FORM OF PREFERRED SECURITIES GUARANTEE AGREEMENT DTE Energy Trust III Dated as of
CROSS REFERENCE TABLE (1)
| Section of Trust | Section of | |
| Indenture Act of 1939, | Preferred Securities | |
| as amended | Guarantee Agreement | |
| 310(a) | 4.1(a) | |
| 310(b) | 2.8 | |
| 310(c) | Inapplicable | |
| 311(a) | 2.2 | |
| 311(b) | 2.2 | |
| 311(c) | Inapplicable | |
| 312(a) | 2.2 | |
| 312(b) | 2.2 | |
| 312(c) | Inapplicable | |
| 313(a) | 2.3 | |
| 313(b) | 2.3 | |
| 313(c) | 2.3 | |
| 313(d) | 2.3 | |
| 314(a) | 2.4 | |
| 314(b) | Inapplicable | |
| 314(c) | 2.5 | |
| 314(d) | Inapplicable | |
| 314(e) | 2.5 | |
| 314(f) | Inapplicable | |
| 315(a) | 3.1(d); 3.2(a) | |
| 315(b) | 2.7(a) | |
| 315(c) | 3.1(c) | |
| 315(d) | 3.1(d) | |
| 316(a) | 2.6; 5.4(a) | |
| 317(a) | 3.1(b) | |
| 318(a) | 2.1(b) |
| (1) | This Cross-Reference Table does not constitute part of the Preferred Securities Guarantee Agreement and shall not have any bearing upon the interpretation of any of its terms or provisions. |
TABLE OF CONTENTS
| PAGE | ||||
| ARTICLE I DEFINITIONS AND INTERPRETATIONS |
||||
SECTION 1.1 Definitions and Interpretations |
1 | |||
| ARTICLE II TRUST INDENTURE ACT |
||||
SECTION 2.1 Trust Indenture Act: Application |
5 | |||
SECTION 2.2 List of Holders of Securities |
5 | |||
SECTION 2.3 Reports by the Preferred Securities Guarantee Trustee |
6 | |||
SECTION 2.4 Periodic Reports to Preferred Securities Guarantee Trustee |
6 | |||
SECTION 2.5 Evidence of Compliance with Conditions Precedent |
6 | |||
SECTION 2.6 Events of Default; Waiver |
6 | |||
SECTION 2.7 Event of Default; Notice |
6 | |||
SECTION 2.8 Conflicting Interests |
7 | |||
| ARTICLE III POWERS, DUTIES AND RIGHTS OF PREFERRED SECURITIES GUARANTEE TRUSTEE |
||||
SECTION 3.1 Powers and Duties of the Preferred Securities Guarantee Trustee |
7 | |||
SECTION 3.2 Certain Rights of Preferred Securities Guarantee Trustee |
9 | |||
SECTION 3.3 Not Responsible for Recitals or Issuance of Guarantee |
12 | |||
| ARTICLE IV PREFERRED SECURITIES GUARANTEE TRUSTEE |
||||
SECTION 4.1 Preferred Securities Guarantee Trustee; Eligibility |
12 | |||
SECTION 4.2 Appointment, Removal and Resignation of Preferred
Securities Guarantee Trustee |
12 | |||
| ARTICLE V GUARANTEE |
||||
SECTION 5.1 Guarantee |
13 | |||
SECTION 5.2 Waiver of Notice and Demand |
14 | |||
SECTION 5.3 Obligations Not Affected |
14 | |||
SECTION 5.4 Rights of Holders |
15 | |||
SECTION 5.5 Guarantee of Payment |
15 | |||
SECTION 5.6 Subrogation |
15 | |||
SECTION 5.7 Independent Obligations |
16 | |||
| PAGE | ||||
| ARTICLE VI LIMITATION OF TRANSACTIONS; RANKING |
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SECTION 6.1 Limitation of Transactions |
16 | |||
SECTION 6.2 Ranking |
17 | |||
| ARTICLE VII TERMINATION |
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SECTION 7.1 Termination |
17 | |||
| ARTICLE VIII INDEMNIFICATION |
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SECTION 8.1 Exculpation |
17 | |||
SECTION 8.2 Indemnification |
18 | |||
SECTION 8.3 Compensation |
18 | |||
| ARTICLE IX MISCELLANEOUS |
||||
SECTION 9.1 Successors and Assigns |
19 | |||
SECTION 9.2 Amendments |
19 | |||
SECTION 9.3 Notices |
19 | |||
SECTION 9.4 Benefit |
20 | |||
SECTION 9.5 Governing Law |
20 | |||
SECTION 9.6 Counterparts |
20 | |||
This GUARANTEE AGREEMENT (the “Preferred Securities Guarantee”), dated as of
, is executed and delivered by DTE Energy Company, a Michigan corporation (the
“Guarantor”), and [The Bank of New York Mellon Trust Company, N.A.], as trustee (the “Preferred
Securities Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to
time of the Preferred Securities (as defined herein) of DTE Energy Trust III, a Delaware statutory
trust (the “Issuer”).
WHEREAS, pursuant to an Amended and Restated Trust Agreement (the “Agreement”), dated as of
, among the trustees of the Issuer named therein, the Guarantor, as sponsor, and the holders from time to time of undivided beneficial interests in the assets of the
Issuer, the Issuer is issuing on the date hereof up to preferred securities,
liquidation amount $ per preferred security, having an aggregate liquidation amount of
$ designated the % preferred securities (the “Preferred
Securities”);
WHEREAS, as incentive for the Holders to purchase the Preferred Securities, the Guarantor
desires irrevocably and unconditionally to agree, to the extent set forth in this Preferred
Securities Guarantee, to pay to the Holders the Guarantee Payments (as defined herein) and to make
certain other payments and fulfill certain other obligations on the terms and conditions set forth
herein; and
WHEREAS, the Guarantor is concurrently herewith executing and delivering a guarantee agreement
(the “Common Securities Guarantee”) with substantially identical terms to this Preferred Securities
Guarantee for the benefit of the holders of the Common Securities (as defined herein), except that
if an Event of Default (as defined in the Agreement), has occurred and is continuing, the rights of
holders of the Common Securities to receive Guarantee Payments under the Common Securities
Guarantee are subordinated to the rights of Holders to receive Guarantee Payments under this
Preferred Securities Guarantee.
NOW, THEREFORE, in consideration of the purchase by each Holder, which purchase the Guarantor
hereby agrees shall benefit the Guarantor, the Guarantor executes and delivers this Guarantee for
the benefit of the Holders.
ARTICLE I
DEFINITIONS AND INTERPRETATIONS
DEFINITIONS AND INTERPRETATIONS
SECTION 1.1 Definitions and Interpretations
In this Preferred Securities Guarantee, unless the context otherwise requires or otherwise
specifies:
(a) capitalized terms used in this Preferred Securities Guarantee but not defined in the
preamble above have the respective meanings assigned to them in this Section 1.1;
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(b) terms defined in the Agreement as at the date of execution of this Preferred Securities
Guarantee have the same meaning when used in this Preferred Securities Guarantee unless otherwise
defined in this Preferred Securities Guarantee;
(c) a term defined anywhere in this Preferred Securities Guarantee, including the recitals,
has the same meaning throughout;
(d) all references to “the Preferred Securities Guarantee” or “this Preferred Securities
Guarantee” are to this Preferred Securities Guarantee as modified, supplemented or amended from
time to time;
(e) all references in this Preferred Securities Guarantee to an Article, Section or other
subdivision are to an Article, Section or other subdivision of this Preferred Securities Guarantee;
(f) a term defined in the Trust Indenture Act has the same meaning when used in this Preferred
Securities Guarantee, unless otherwise defined in this Preferred Securities Guarantee;
(g) a reference to the singular includes the plural and vice versa;
(h) the words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation; and
(i) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to
this Agreement as a whole and not to any particular Article or Section or other subdivision.
“Affiliate” has the same meaning given to that term in Rule 405 of the Securities Act of 1933,
as amended, or any successor rule thereunder.
“Authorized Officer” of a Person means any Person that is authorized to bind such Person.
“Business Day” means any day other than Saturday, Sunday or any day on which banking
institutions in The City of New York are permitted or required by any applicable law or executive
order to close.
“Common Securities” means the securities representing common undivided beneficial interests in
the assets of the Issuer.
“Corporate Trust Office” means the office of the Preferred Securities Guarantee Trustee at
which the corporate trust business of the Preferred Securities Guarantee Trustee shall, at any
particular time, be principally administered, which office at the date of execution of this
Guarantee is located at [700 ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇].
“Covered Person” means any Holder or beneficial owner of Preferred Securities.
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“Debentures” means the series of debt securities of the Guarantor issued under the Indenture
(as defined in the Agreement) held by the Property Trustee (as defined in the Agreement) on behalf
of the Issuer.
“Direction” by a person means a written direction signed: (i) if the Person is a natural
person, by that Person; or (ii) in any other case in the name of such Person by one or more
Authorized Officers of that Person.
“Event of Default” means a default by the Guarantor on any of its payment or other obligations
under this Preferred Securities Guarantee.
“Guarantee Payments” means the following payments or distributions, without duplication, with
respect to the Preferred Securities, to the extent not paid or made by the Issuer:
(i) any accumulated and unpaid Distributions (as defined in the Agreement) that are
required to be paid on such Preferred Securities to the extent the Issuer shall have funds
available therefor,
(ii) the redemption or repayment price, if any, specified in the Agreement, including
all accumulated and unpaid distributions to the date of redemption or repayment (the
“Redemption or Repayment Price”) with respect to Preferred Securities called or submitted
for redemption or repayment, to the extent the Issuer has funds available therefor, and
(iii) upon a voluntary or involuntary dissolution, winding-up or termination of the
Issuer (other than in connection with the distribution of Debentures to the Holders in
exchange for Preferred Securities if so provided in the Agreement), the lesser of (A) the
aggregate of the liquidation amount and all accrued and unpaid Distributions on the
Preferred Securities to the date of payment, to the extent the Issuer shall have funds
available therefor, and (B) the amount of assets of the Issuer remaining available for
distribution to Holders in liquidation of the Issuer (in either case, the “Liquidation
Distribution”).
“Holder” shall mean any holder, as registered on the books and records of the Issuer, of any
Preferred Securities; provided, however, that, in determining whether the Holders of the requisite
percentage of Preferred Securities have given any request, notice, consent or waiver hereunder,
“Holder” shall not include the Guarantor or any Affiliate of the Guarantor.
“Indemnified Person” means the Preferred Securities Guarantee Trustee, including in its
individual capacity, any Affiliate of the Preferred Securities Guarantee Trustee, or any officers,
directors, shareholders, members, partners, employees, representatives, nominees, custodians or
agents of the Preferred Securities Guarantee Trustee.
3
“Officers’ Certificate” means, with respect to (A) the Guarantor, a certificate signed by the
Chairman of the Board, a Vice Chairman, the President or a Vice President, and by the Treasurer, an
Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant
Secretary of the Guarantor and (B) any other Person, a certificate signed by any two Authorized
Officers of such Person. Any Officers’ Certificate delivered with respect to compliance with a
condition or covenant provided for in this Preferred Securities Guarantee shall include:
(i) a statement that the individuals signing the Officers’ Certificate have read the
covenant or condition and the definitions relating thereto;
(ii) a brief statement of the nature and scope of the examination or investigation
upon which the statements or opinions contained in such Officers’ Certificate are based;
(iii) a statement that, in the opinion of each such individual, he or she has made
such examination or investigation as, in such individual’s opinion, is necessary to enable
such individual to express an informed opinion as to whether or not such covenant or
condition has been complied with; and
(iv) a statement as to whether, in the opinion of such individuals, such condition or
covenant has been complied with.
[“Other Document” means any instrument or agreement constituting Trust Property, other than
the Debentures, specified in the Agreement.]
“Person” means a legal person, including any individual, corporation, estate, partnership,
joint venture, association, joint stock company, limited liability company, trust, unincorporated
association or government or any agency or political subdivision thereof, or any other entity of
whatever nature.
“Property Trustee” means [The Bank of New York Mellon Trust Company, N.A.].
“Preferred Securities Guarantee Trustee” means [The Bank of New York Mellon Trust Company,
N.A.], until a Successor Preferred Securities Guarantee Trustee has been appointed and has accepted
such appointment pursuant to the terms of this Preferred Securities Guarantee and thereafter means
each such Successor Preferred Securities Guarantee Trustee.
“Responsible Officer” means, with respect to the Preferred Securities Guarantee Trustee, any
officer within the Corporate Trust Office of the Preferred Securities Guarantee Trustee with direct
responsibility for the Preferred Securities Guarantee Trustee’s obligations under this Preferred
Securities Guarantee and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of that Officer’s knowledge of and familiarity with
the particular subject.
4
“Successor Preferred Securities Guarantee Trustee” means a successor Preferred Securities
Guarantee Trustee possessing the qualifications to act as Preferred Securities Guarantee Trustee
under Section 4.1.
“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.
ARTICLE II
TRUST INDENTURE ACT
TRUST INDENTURE ACT
SECTION 2.1 Trust Indenture Act: Application
(a) This Preferred Securities Guarantee is subject to the provisions of the Trust Indenture
Act that are required to be part of this Preferred Securities Guarantee and shall, to the extent
applicable, be governed by such provisions.
(b) If and to the extent that any provision of this Preferred Securities Guarantee limits,
qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust
Indenture Act, such imposed duties shall control.
SECTION 2.2 List of Holders of Securities
In accordance with Section 312(a) of the Trust Indenture Act, the Guarantor shall provide to
the Preferred Securities Guarantee Trustee:
(a) within 14 days after each of the dates as are determined for the Property Trustee pursuant
to Section 2.2(a)(i) of the Agreement, a list, in such form as the Preferred Securities Guarantee
Trustee may reasonably require, of the names and addresses of the Holders (“List of Holders”) as of
such date, provided that the Guarantor shall not be obligated to provide such List of Holders if
the Preferred Securities Guarantee Trustee is the Registrar or at any time the List of Holders does
not differ from the most recent List of Holders given to the Preferred Securities Guarantee Trustee
by the Guarantor; and
(b) at any other time, within 30 days of receipt by the Guarantor of a written request by the
Preferred Securities Guarantee Trustee for a List of Holders as of a date no more than 14 days
before such List of Holders is given to the Preferred Securities Guarantee Trustee. The Preferred
Securities Guarantee Trustee shall preserve, in as current a form as is reasonably practicable, all
information contained in the List of Holders given to it or which it receives in its capacity as
paying agent or registrar (if acting in such capacity), provided that the Preferred Securities
Guarantee Trustee may destroy any List of Holders previously given to it on receipt of a new List
of Holders.
The Preferred Securities Guarantee Trustee shall comply with its obligations under Sections
311(a), 311(b) and 312(b) of the Trust Indenture Act.
5
SECTION 2.3 Reports by the Preferred Securities Guarantee Trustee
Within 60 days after [ 15] of each year, commencing with the [ 15] that first occurs following
the issuance of the Preferred Securities, the Preferred Securities Guarantee Trustee shall provide
to the Holders such reports as are required by Section 313 of the Trust Indenture Act, if any, in
the form and in the manner provided by Section 313 of the Trust Indenture Act. The Preferred
Securities Guarantee Trustee shall also comply with the requirements of Section 313(d) of the Trust
Indenture Act.
SECTION 2.4 Periodic Reports to Preferred Securities Guarantee Trustee
The Guarantor shall provide to the Preferred Securities Guarantee Trustee such documents,
reports and information as required by Section 314 (if any) and the compliance certificate required
by Section 314 of the Trust Indenture Act in the form, in the manner and at the times required by
Section 314 of the Trust Indenture Act.
SECTION 2.5 Evidence of Compliance with Conditions Precedent
The Guarantor shall provide to the Preferred Securities Guarantee Trustee such evidence of
compliance with any conditions precedent, if any, provided for in this Preferred Securities
Guarantee that relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act.
Any certificate or opinion required to be given by an officer pursuant to Section 314(c)(1) may be
given in the form of an Officers’ Certificate.
SECTION 2.6 Events of Default; Waiver
The Holders of not less than a majority in liquidation amount of Preferred Securities may, by
vote or written consent, on behalf of all Holders, waive any past Event of Default and its
consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured, for every purpose of this Preferred
Securities Guarantee, but no such waiver shall extend to any subsequent or other default or Event
of Default or impair any right consequent thereon.
SECTION 2.7 Event of Default; Notice
(a) The Preferred Securities Guarantee Trustee shall, within 90 days after a Responsible
Officer of the Preferred Securities Guarantee Trustee obtains actual knowledge of the occurrence of
an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all
such Events of Default actually known to such Responsible Officer of the Preferred Securities
Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided,
that, except in the case of default in the payment of any Guarantee Payment or, if applicable, in
the delivery of any cash, securities or other property in exchange for or upon conversion or
redemption of or otherwise in accordance with the terms of, any Debenture [or Other Document] or
the Preferred Securities, the Preferred Securities Guarantee Trustee shall be protected in
withholding such notice if and so long as a Responsible Officer of the Preferred
6
Securities Guarantee Trustee in good faith determines that the withholding of such notice is
in the interests of the Holders.
(b) The Preferred Securities Guarantee Trustee shall not be deemed to have knowledge of any
Event of Default except:
(i) a default in the payment of any Guarantee Payment;
(ii) any failure to deliver any cash, securities or other property in exchange for or
upon conversion or redemption of or otherwise in accordance with the terms of any Debenture
[or Other Document] or the Preferred Securities, if applicable; and
(iii) any default as to which the Preferred Securities Guarantee Trustee shall have
received written notice or of which a Responsible Officer of the Preferred Securities
Guarantee Trustee charged with the administration of this Preferred Securities Guarantee
shall have actual knowledge.
(c) The Guarantor shall file annually within 30 days after [ 15] of each year, commencing with
the [ 15] that first occurs following the issuance of the Preferred Securities, with the Preferred
Securities Guarantee Trustee in accordance with Section 314(a)(4) of the Trust Indenture Act a
certification as to whether or not it is in compliance with all the conditions applicable to it
under this Preferred Securities Guarantee Agreement.
SECTION 2.8 Conflicting Interests
(a) If the Preferred Securities Guarantee Trustee has or shall acquire any “conflicting
interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Preferred Securities
Guarantee Trustee shall in all respects comply with the provisions of Section 310(b) of the Trust
Indenture Act.
(b) The Agreement and the Indenture shall be deemed to be specifically described in this
Preferred Securities Guarantee for the purposes of clause (i) of the first proviso contained in
Section 310(b) of the Trust Indenture Act. [Describe others if applicable]
ARTICLE III
POWERS, DUTIES AND RIGHTS OF
PREFERRED SECURITIES GUARANTEE TRUSTEE
POWERS, DUTIES AND RIGHTS OF
PREFERRED SECURITIES GUARANTEE TRUSTEE
SECTION 3.1 Powers and Duties of the Preferred Securities Guarantee Trustee
(a) This Preferred Securities Guarantee shall be held by the Preferred Securities Guarantee
Trustee for the benefit of the Holders, and the Preferred Securities Guarantee Trustee shall not
transfer this Preferred Securities Guarantee to any Person except a Holder exercising his or her
rights pursuant to Section 5.4(b) or to a Successor
7
Preferred Securities Guarantee Trustee on acceptance by such Successor Preferred Securities
Guarantee Trustee of its appointment to act as Successor Preferred Securities Guarantee Trustee.
The right, title and interest of the Preferred Securities Guarantee Trustee shall automatically
vest in any Successor Preferred Securities Guarantee Trustee, and such vesting and succession of
title shall be effective whether or not conveyancing documents have been executed and delivered
pursuant to the appointment of such Successor Preferred Securities Guarantee Trustee.
(b) If an Event of Default actually known to a Responsible Officer of the Preferred Securities
Guarantee Trustee has occurred and is continuing, the Preferred Securities Guarantee Trustee shall
enforce this Preferred Securities Guarantee for the benefit of the Holders.
(c) The Preferred Securities Guarantee Trustee, before the occurrence of any Event of Default
and after the curing or waiver of all Events of Default that may have occurred, shall undertake to
perform only such duties as are specifically set forth in this Preferred Securities Guarantee, and
no implied covenants or obligations shall be read into this Preferred Securities Guarantee against
the Preferred Securities Guarantee Trustee. In case an Event of Default has occurred (that has not
been cured or waived pursuant to Section 2.6) and is actually known to a Responsible Officer of the
Preferred Securities Guarantee Trustee, the Preferred Securities Guarantee Trustee shall exercise
such of the rights and powers vested in it by this Preferred Securities Guarantee, and use the same
degree of care and skill in its exercise thereof, as a prudent person would exercise or use under
the circumstances in the conduct of his or her own affairs.
(d) No provision of this Preferred Securities Guarantee shall be construed to relieve the
Preferred Securities Guarantee Trustee from liability for its own negligent action, its own
negligent failure to act, its own bad faith or its own willful misconduct, except that:
(i) prior to the occurrence of any Event of Default and after the curing or waiving of
such Events of Default that may have occurred:
(A) the duties and obligations of the Preferred Securities Guarantee Trustee
shall be determined solely by the express provisions of this Preferred Securities
Guarantee, and the Preferred Securities Guarantee Trustee shall not be liable
except for the performance of such duties and obligations as are specifically set
forth in this Preferred Securities Guarantee, and no implied covenants or
obligations shall be read into this Preferred Securities Guarantee against the
Preferred Securities Guarantee Trustee; and
(B) in the absence of bad faith on the part of the Preferred Securities
Guarantee Trustee, the Preferred Securities Guarantee Trustee may conclusively
rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon any certificates or opinions
8
furnished to the Preferred Securities Guarantee Trustee and conforming to the
requirements of this Preferred Securities Guarantee; but in the case of any such
certificates or opinions that by any provision hereof are specifically required to
be furnished to the Preferred Securities Guarantee Trustee, the Preferred
Securities Guarantee Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Preferred Securities
Guarantee;
(ii) the Preferred Securities Guarantee Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer of the Preferred Securities Guarantee
Trustee, unless it shall be proved that the Preferred Securities Guarantee Trustee was
negligent in ascertaining the pertinent facts;
(iii) the Preferred Securities Guarantee Trustee shall not be liable with respect to
any action taken or omitted to be taken by it in good faith in accordance with the
direction of the Holders of not less than a majority in liquidation amount of the Preferred
Securities relating to the time, method and place of conducting any proceeding for any
remedy available to the Preferred Securities Guarantee Trustee, or exercising any trust or
power conferred upon the Preferred Securities Guarantee Trustee under this Preferred
Securities Guarantee; and
(iv) no provision of this Preferred Securities Guarantee shall require the Preferred
Securities Guarantee Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of
its rights or powers, if the Preferred Securities Guarantee Trustee shall have reasonable
grounds for believing that the repayment of such funds or liability is not reasonably
assured to it under the terms of this Preferred Securities Guarantee or if indemnity
reasonably satisfactory to the Preferred Securities Guarantee Trustee against such risk or
liability is not reasonably assured to it.
SECTION 3.2 Certain Rights of Preferred Securities Guarantee Trustee
(a) Subject to the provisions of Section 3.1:
(i) the Preferred Securities Guarantee Trustee may conclusively rely, and shall be
fully protected in acting or refraining from acting upon, any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond,
debenture, note, other evidence of indebtedness or other paper or document believed by it
to be genuine and to have been signed, sent or presented by the proper party or parties;
(ii) any direction or act of the Guarantor contemplated by this Preferred Securities
Guarantee shall be sufficiently evidenced by a Direction or an Officers’ Certificate;
9
(iii) whenever, in the administration of this Preferred Securities Guarantee, the
Preferred Securities Guarantee Trustee shall deem it desirable that a matter be proved or
established before taking, suffering or omitting any action hereunder, the Preferred
Securities Guarantee Trustee (unless other evidence is herein specifically prescribed)
may, in the absence of negligence, bad faith or willful misconduct on its part, request and
conclusively rely upon an Officers’ Certificate which, upon receipt of such request, shall
be promptly delivered by the Guarantor;
(iv) the Preferred Securities Guarantee Trustee shall have no duty to see to any
recording, filing or registration of any instrument (or any rerecording, refiling or
reregistration thereof);
(v) the Preferred Securities Guarantee Trustee may consult with competent legal
counsel or other experts, and the advice or written opinion of such counsel and experts
with respect to legal matters or advice within the scope of such legal counsel’s or
expert’s area of expertise shall be full and complete authorization and protection in
respect of any action taken, suffered or omitted by it hereunder in good faith and in
accordance with such advice or opinion. Such counsel may be counsel to the Guarantor or any
of its Affiliates and may include any of its employees. The Preferred Securities Guarantee
Trustee shall have the right at any time to seek instructions concerning the administration
of this Preferred Securities Guarantee from any court of competent jurisdiction;
(vi) the Preferred Securities Guarantee Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this Preferred Securities Guarantee at
the request or direction of any Holder, unless such Holder shall have provided to the
Preferred Securities Guarantee Trustee such security and indemnity, reasonably satisfactory
to the Preferred Securities Guarantee Trustee, against the reasonable costs, expenses
(including reasonable attorneys’ fees and reasonable expenses and the expenses of the
Preferred Securities Guarantee Trustee, agents, nominees or custodians) and liabilities
that might be incurred by it in complying with such request or direction, including such
reasonable advances as may be requested by the Preferred Securities Guarantee Trustee;
provided that, nothing contained in this Section 3.2(a)(vi) shall be taken to relieve the
Preferred Securities Guarantee Trustee, upon the occurrence of an Event of Default, of its
obligation to exercise the rights and powers vested in it by this Preferred Securities
Guarantee;
(vii) the Preferred Securities Guarantee Trustee shall not be bound to conduct an
investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture,
note, other evidence of indebtedness or other paper or document, but the Preferred
Securities Guarantee Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit;
10
(viii) the Preferred Securities Guarantee Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either directly or by or through agents,
nominees, custodians or attorneys, and the Preferred Securities Guarantee Trustee shall not
be responsible for any misconduct or negligence on the part of any agent or attorney
appointed with due care by it hereunder;
(ix) any action taken by the Preferred Securities Guarantee Trustee or its agents
hereunder shall bind the Holders, and the signature of the Preferred Securities Guarantee
Trustee or its agents alone shall be sufficient and effective to perform any such action,
and no third party shall be required to inquire as to the authority of the Preferred
Securities Guarantee Trustee to so act or as to its compliance with any of the terms and
provisions of this Preferred Securities Guarantee, both of which shall be conclusively
evidenced by the Preferred Securities Guarantee Trustee’s or its agent’s taking such
action;
(x) whenever in the administration of this Preferred Securities Guarantee the
Preferred Securities Guarantee Trustee shall deem it desirable to receive instructions with
respect to enforcing any remedy or right or taking any other action hereunder, the
Preferred Securities Guarantee Trustee (A) may request instructions from the Holders of a
majority in liquidation amount of the Preferred Securities, (B) may refrain from enforcing
such remedy or right or taking such other action until such instructions are received, and
(C) shall be protected in conclusively relying on or acting in accordance with such
instructions;
(xi) except as otherwise expressly provided by this Preferred Securities Guarantee,
the Preferred Securities Guarantee Trustee shall not be under any obligation to take any
action that is discretionary under the provisions of this Preferred Securities Guarantee;
and
(xii) the Preferred Securities Guarantee Trustee shall not be liable for any action
taken, suffered, or omitted to be taken by it in good faith, without negligence, and
reasonably believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Preferred Securities Guarantee.
(b) No provision of this Preferred Securities Guarantee shall be deemed to impose any duty or
obligation on the Preferred Securities Guarantee Trustee to perform any act or acts or exercise any
right, power, duty or obligation conferred or imposed on it in any jurisdiction in which it shall
be illegal, or in which the Preferred Securities Guarantee Trustee shall be unqualified or
incompetent in accordance with applicable law, to perform any such act or acts or to exercise any
such right, power, duty or obligation. No permissive power or authority available to the Preferred
Securities Guarantee Trustee shall be construed to be a duty.
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SECTION 3.3 Not Responsible for Recitals or Issuance of Guarantee
The recitals contained in this Guarantee shall be taken as the statements of the Guarantor,
and the Preferred Securities Guarantee Trustee does not assume any responsibility for their
correctness. The Preferred Securities Guarantee Trustee makes no representation as to the validity
or sufficiency of this Preferred Securities Guarantee.
ARTICLE IV
PREFERRED SECURITIES GUARANTEE TRUSTEE
PREFERRED SECURITIES GUARANTEE TRUSTEE
SECTION 4.1 Preferred Securities Guarantee Trustee; Eligibility
(a) There shall at all times be a Preferred Securities Guarantee Trustee which shall:
(i) not be an Affiliate of the Guarantor; and
(ii) be a corporation organized and doing business under the laws of the United States
of America or any State or Territory thereof or of the District of Columbia, or a
corporation or Person permitted by the Securities and Exchange Commission to act as an
institutional trustee under the Trust Indenture Act, authorized under such laws to exercise
corporate trust powers, having a combined capital and surplus of at least Fifty Million
U.S. Dollars ($50,000,000), and subject to supervision or examination by Federal, State,
Territorial or District of Columbia authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the supervising or
examining authority referred to above, then, for the purposes of this Section 4.1(a)(ii),
the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published.
(b) If at any time the Preferred Securities Guarantee Trustee shall cease to be eligible to so
act under Section 4.1(a), the Preferred Securities Guarantee Trustee shall immediately resign in
the manner and with the effect set out in Section 4.2(c).
SECTION 4.2 Appointment, Removal and Resignation of Preferred Securities Guarantee Trustee
(a) Subject to Section 4.2(b), the Preferred Securities Guarantee Trustee may be appointed or
removed without cause at any time:
(i) until the issuance of any Preferred Securities, by written instrument executed by
the Guarantor;
(ii) unless an Event of Default shall have occurred and be continuing, after the
issuance of any Securities, by the Guarantor; and
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(iii) if an Event of Default shall have occurred and be continuing, after the issuance
of the Preferred Securities, by vote or written consent of the Holders of a majority in
liquidation amount of the Preferred Securities.
(b) The Preferred Securities Guarantee Trustee shall not be removed in accordance with Section
4.2(a) until a Successor Preferred Securities Guarantee Trustee has been appointed and has accepted
such appointment by written instrument executed by such Successor Preferred Securities Guarantee
Trustee and delivered to the Guarantor.
(c) The Preferred Securities Guarantee Trustee appointed to office shall hold office until a
Successor Preferred Securities Guarantee Trustee shall have been appointed or until its removal or
resignation. The Preferred Securities Guarantee Trustee may resign from office (without need for
prior or subsequent accounting) by an instrument in writing executed by the Preferred Securities
Guarantee Trustee and delivered to the Guarantor, which resignation shall not take effect until a
Successor Preferred Securities Guarantee Trustee has been appointed and has accepted such
appointment by instrument in writing executed by such Successor Preferred Securities Guarantee
Trustee and delivered to the Guarantor and the resigning Preferred Securities Guarantee Trustee.
(d) If no Successor Preferred Securities Guarantee Trustee shall have been appointed and
accepted appointment as provided in this Section 4.2 within 60 days after delivery to the Guarantor
of an instrument of removal or resignation, the Preferred Securities Guarantee Trustee resigning or
being removed may petition any court of competent jurisdiction for appointment of a Successor
Preferred Securities Guarantee Trustee. Such court may thereupon, after prescribing such notice,
if any, as it may deem proper, appoint a Successor Preferred Securities Guarantee Trustee.
(e) No Preferred Securities Guarantee Trustee shall be liable for the acts or omissions to act
of any Successor Preferred Securities Guarantee Trustee.
(f) Upon termination of this Preferred Securities Guarantee or removal or resignation of the
Preferred Securities Guarantee Trustee pursuant to this Section 4.2, the Guarantor shall pay to the
Preferred Securities Guarantee Trustee all amounts due to the Preferred Securities Guarantee
Trustee accrued to the date of such termination, removal or resignation.
ARTICLE V
GUARANTEE
GUARANTEE
SECTION 5.1 Guarantee
The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the
Guarantee Payments (without duplication of amounts theretofore paid by the Issuer), as and when
due, regardless of any defense, right of set-off or counterclaim that the Issuer may have or
assert. The Guarantor’s obligation to make a Guarantee Payment may be satisfied by direct payment
of the required amounts by the Guarantor to the Holders or by causing the Issuer to pay such
amounts to the Holders.
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In addition, the Guarantor irrevocably and unconditionally agrees to cause the Issuer to
deliver to the Holders such securities and other property as may be deliverable to them in
accordance with the terms of the Preferred Securities, including as a result of any conversion,
exchange, redemption, liquidation or other provision of the Debentures, [the Other Documents] or
the Preferred Securities.
SECTION 5.2 Waiver of Notice and Demand
The Guarantor hereby waives notice of acceptance of this Preferred Securities Guarantee and of
any liability to which it applies or may apply, presentment, demand for payment, any right to
require a proceeding first against the Issuer or any other Person before proceeding against the
Guarantor, protest, notice of nonpayment, notice of dishonor, notice of redemption and all other
notices and demands.
SECTION 5.3 Obligations Not Affected
The obligations, covenants, agreements and duties of the Guarantor under this Preferred
Securities Guarantee shall in no way be affected or impaired by reason of the happening from time
to time of any of the following:
(a) the release or waiver, by operation of law or otherwise, of the performance or observance
by the Issuer of any express or implied agreement, covenant, term or condition relating to the
Preferred Securities to be performed or observed by the Issuer;
(b) the extension of time for the payment by the Issuer of all or any portion any sums payable
or the performance by the Issuer of any other obligation under, arising out of, or in connection
with, the Preferred Securities (other than an extension of time permitted by the Indenture);
(c) any failure, omission, delay or lack of diligence on the part of the Holders to enforce,
assert or exercise any right, privilege, power or remedy conferred on the Holders pursuant to the
terms of the Preferred Securities, or any action on the part of the Issuer granting indulgence or
extension of any kind;
(d) the voluntary or involuntary liquidation, dissolution, sale of any collateral,
receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization,
arrangement, composition or readjustment of debt of, or other similar proceedings affecting, the
Issuer or any of the assets of the Issuer;
(e) any invalidity of, or defect or deficiency in, the Preferred Securities;
(f) the settlement or compromise of any obligation guaranteed hereby or hereby incurred; or
(g) any other circumstance whatsoever that might otherwise constitute a legal or equitable
discharge or defense of a guarantor, it being the intent of this Section 5.3 that
the obligations of the Guarantor hereunder shall be absolute and unconditional under any and
all circumstances.
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There shall be no obligation of the Holders to give notice to, or obtain the consent of, the
Guarantor with respect to the happening of any of the foregoing.
SECTION 5.4 Rights of Holders
(a) The Holders of a majority in liquidation amount of the Preferred Securities have the right
to direct the time, method and place of conducting of any proceeding for any remedy available to
the Preferred Securities Guarantee Trustee in respect of this Preferred Securities Guarantee or
exercising any trust or power conferred upon the Preferred Securities Guarantee Trustee under this
Preferred Securities Guarantee.
(b) If the Preferred Securities Guarantee Trustee fails to enforce this Preferred Securities
Guarantee, any Holder may institute a legal proceeding directly against the Guarantor to enforce
its rights under this Preferred Securities Guarantee, without first instituting a legal proceeding
against the Issuer, the Preferred Securities Guarantee Trustee or any other Person. Notwithstanding
the foregoing, if the Guarantor has failed to make a Guarantee Payment or to perform any of its
other obligations under Section 5.1, a Holder may directly institute a proceeding in the Holder’s
own name against the Guarantor for enforcement of this Preferred Securities Guarantee for the
portion of such Guarantee Payment or the performance of such other obligation to which such Holder
is entitled. The Guarantor waives any right or remedy to require that any action on this Preferred
Securities Guarantee be brought first against the Issuer or any other person or entity before
proceeding directly against the Guarantor.
SECTION 5.5 Guarantee of Payment
This Preferred Securities Guarantee creates a guarantee of payment and not of collection. This
Preferred Securities Guarantee will not be discharged except by payment of the Guarantee Payments
in full (to the extent not paid by the Issuer) or upon distribution of Debentures to Holders as
provided in the Agreement.
SECTION 5.6 Subrogation
The Guarantor shall be subrogated to all rights, if any, of the Holders against the Issuer in
respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities
Guarantee; provided, however, that the Guarantor shall not (except to the extent required by
mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by
way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of
payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts
are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid or
property delivered to the Guarantor in violation of the preceding sentence, the Guarantor agrees to
hold such amount or property in trust for the Holders and to pay over such amount or deliver such
property to the Holders entitled thereto.
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SECTION 5.7 Independent Obligations
The Guarantor acknowledges that its obligations hereunder are independent of the obligations
of the Issuer with respect to the Preferred Securities, and that the Guarantor shall be liable as
principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this
Preferred Securities Guarantee notwithstanding the occurrence of any event referred to in
subsections (a) through (g), inclusive, of Section 5.3 hereof.
ARTICLE VI
LIMITATION OF TRANSACTIONS; RANKING
LIMITATION OF TRANSACTIONS; RANKING
SECTION 6.1 Limitation of Transactions
So long as any Preferred Securities remain outstanding, the Guarantor shall not:
(a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a
liquidation payment with respect to, any of the Guarantor’s capital stock (which includes common
and preferred stock);
(b) make any payment of principal, interest or premium, if any, on or repay or repurchase or
redeem any debt securities of the Guarantor that rank pari passu with or junior in right of payment
to the Debentures; or
(c) make any guarantee payments with respect to any guarantee by the Guarantor of the debt
securities of any subsidiary thereof or any other party if such guarantee ranks pari passu or
junior in right of payment to the Debentures
(other than (A) dividends or distributions in shares of, or options, warrants or rights to
subscribe for or purchase shares of, common stock of the Guarantor, (B) any declaration of a
dividend in connection with the implementation of a stockholders’ rights plan, or the issuance of
stock under any such plan in the future, or the redemption or repurchase of any such rights
pursuant thereto, (C) payments under the Preferred Securities Guarantee and any Other Documents,
(D) as a result of a reclassification of the Guarantor’s capital stock or the exchange or the
conversion of one class or series of the Guarantor’s capital stock for another class or series of
the Guarantor’s capital stock, (E) the purchase of fractional interests in shares of the
Guarantor’s capital stock pursuant to the conversion or exchange provisions of such capital stock
or the security being converted or exchanged, and (F) purchases of common stock related to the
issuance of common stock or rights under any of the Guarantor’s benefit plans for its directors,
officers or employees or any of the Guarantor’s dividend reinvestment plans) if at such time (i)
there shall have occurred any event of which the Guarantor has actual knowledge that is, or with
the giving of notice or the lapse of time, or both, would be an Event of Default, (ii) the
Guarantor shall be in default with respect to its payment or other obligations under Section 5.1 of
this Preferred Securities Guarantee or (iii) , if the terms of the Debentures provide for the
deferral of the obligation of the Guarantor, as issuer of the Debenture, to pay interest thereon,
whether at the option of the Guarantor or another Person or otherwise, a notice of deferral has
been given and not rescinded or any interest deferral
period shall have commenced and be continuing. [insert or modify the foregoing provision as
appropriate]
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SECTION 6.2 Ranking
This Preferred Securities Guarantee will constitute an unsecured obligation of the Guarantor
and will rank [insert applicable ranking, i.e., equal to Debentures, subordinate, senior or
otherwise]
ARTICLE VII
TERMINATION
TERMINATION
SECTION 7.1 Termination
This Preferred Securities Guarantee shall terminate upon (a) full payment of the Redemption or
Repayment Price of all Preferred Securities, (b) the conversion or exchange of all the Preferred
Securities and the full payment of any related amounts or (c) full payment of the amounts payable
or delivery of securities or other property deliverable upon liquidation of the Issuer, in each
case, in accordance with the terms of the Agreement. Notwithstanding the foregoing, this Preferred
Securities Guarantee will continue to be effective or will be reinstated, as the case may be, if at
any time any Holder must restore payment of any sums paid or other property distributed under the
Preferred Securities or under this Preferred Securities Guarantee.
ARTICLE VIII
INDEMNIFICATION
INDEMNIFICATION
SECTION 8.1 Exculpation
(a) No Indemnified Person shall be liable, responsible or accountable in damages or otherwise
to the Guarantor or any Covered Person for any loss, damage or claim incurred by reason of any act
or omission performed or omitted by such Indemnified Person in good faith in accordance with this
Preferred Securities Guarantee and in a manner that such Indemnified Person reasonably believed to
be within the scope of the authority conferred on such Indemnified Person by this Preferred
Securities Guarantee or by law, except that an Indemnified Person shall be liable for any such
loss, damage or claim incurred by reason of such Indemnified Person’s negligence, bad faith or
willful misconduct with respect to such acts or omissions.
(b) An Indemnified Person shall be fully protected in relying in good faith upon the records
of the Guarantor and upon such information, opinions, reports or statements presented to the
Guarantor by any Person as to matters the Indemnified Person reasonably believes are within such
other Person’s professional or expert competence and who has been selected with reasonable care by
or on behalf of the Guarantor, including information, opinions, reports or statements as to the
value and amount of the assets, liabilities, profits, losses, or any other facts pertinent to the
existence and amount of assets from which Distributions to Holders might properly be paid.
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SECTION 8.2 Indemnification
(a) To the fullest extent permitted by applicable law, the Guarantor agrees to indemnify and
hold harmless each Indemnified Person from and against any loss, damage or claim incurred by such
Indemnified Person by reason of any act or omission performed or omitted by such Indemnified Person
in good faith in accordance with this Preferred Securities Guarantee and in a manner such
Indemnified Person reasonably believed to be within the scope of authority conferred on such
Indemnified Person by this Preferred Securities Guarantee, except that no Indemnified Person shall
be entitled to be indemnified in respect of any loss, damage or claim incurred by such Indemnified
Person by reason of negligence, bad faith or willful misconduct with respect to such acts or
omissions.
(b) To the fullest extent permitted by applicable law, reasonable out-of-pocket expenses
(including reasonable legal fees) incurred by an Indemnified Person in defending any claim, demand,
action, suit or proceeding shall, from time to time, be advanced by the Guarantor prior to the
final disposition of such claim, demand, action, suit or proceeding upon receipt by the Guarantor
of an undertaking by or on behalf of the Indemnified Person to repay such amount if it shall be
determined that the Indemnified Person is not entitled to be indemnified as authorized in Section
8.2(a).
(c) The provisions set forth in this Section 8.2 shall survive the termination of the
Preferred Securities Guarantee and any resignation or removal of the Preferred Securities Guarantee
Trustee.
SECTION 8.3 Compensation
The Guarantor agrees:
(a) to pay to the Preferred Securities Guarantee Trustee from time to time such compensation
as shall be agreed in writing between the Guarantor and the Preferred Securities Guarantee Trustee
for all services rendered by it hereunder (which compensation shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust); and
(b) to reimburse the Preferred Securities Guarantee Trustee upon its request for reasonable
expenses, disbursements and advances incurred or made by the Preferred Securities Guarantee Trustee
in accordance with any provision of this Preferred Securities Guarantee (including the reasonable
compensation and the expenses and advances of its agents and counsel), except any such expense or
advance as may be attributable to its negligence, willful misconduct or bad faith.
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ARTICLE IX
MISCELLANEOUS
MISCELLANEOUS
SECTION 9.1 Successors and Assigns
All guarantees and agreements contained in this Preferred Securities Guarantee shall bind the
successors, assigns, receivers, trustees and representatives of the Guarantor and shall inure to
the benefit of the Holders of the Preferred Securities then outstanding.
SECTION 9.2 Amendments
Except with respect to any changes that do not adversely affect the rights of Holders (in
which case no consent of Holders will be required), this Preferred Securities Guarantee may only be
amended while any Preferred Securities are outstanding with the prior approval of the Holders of at
least a majority in liquidation amount (including the stated amount that would be paid on
redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which
the voting percentages are determined) of all the outstanding Preferred Securities covered by the
Preferred Securities Guarantee. The provisions of Section 12.2 of the Agreement with respect to
meetings of Holders apply to the giving of such approval.
SECTION 9.3 Notices
All notices provided for in this Preferred Securities Guarantee shall be in writing, duly
signed by the party giving such notice, and shall be delivered, telecopied or mailed by registered
or certified mail, as follows:
(a) If given to the Preferred Securities Guarantee Trustee, at the Preferred Securities
Guarantee Trustee’s mailing address set forth below (or such other address as the Preferred
Securities Guarantee Trustee may give notice of to the Holders of the Preferred Securities):
[The Bank of New York Mellon Trust Company, N.A.
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇
▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇
Attention: ]
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇
▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇
Attention: ]
(b) If given to the Guarantor, at the Guarantor’s mailing address set forth below (or such
other address as the Guarantor may give notice of to the Holders):
(c) If given to any Holder, at the address set forth on the books and records of the Issuer.
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All such notices shall be deemed to have been given when received in person, telecopied with
receipt confirmed, or mailed by first class mail, postage prepaid except that if a notice or other
document is refused delivery or cannot be delivered because of a changed address of which no notice
was given, such notice or other document shall be deemed to have been delivered on the date of such
refusal or inability to deliver.
SECTION 9.4 Benefit
This Preferred Securities Guarantee is solely for the benefit of the Holders and, subject to
Section 3.1(a), is not separately transferable from the Preferred Securities.
SECTION 9.5 Governing Law
THIS PREFERRED SECURITIES GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF WITHOUT REGARD TO CONFLICTS OF
LAWS PRINCIPLES THEREOF.
SECTION 9.6 Counterparts.
The parties may sign any number of copies of this Preferred Securities Guarantee. Each signed
copy shall be an original, but all of them together represent the same agreement. Any signed copy
shall be sufficient proof of this Preferred Securities Guarantee.
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THIS PREFERRED SECURITIES GUARANTEE is executed as of the day and year first above written.
| DTE ENERGY COMPANY as Guarantor |
||||||
| By: | ||||||
| Title: | ||||||
| [THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.] as Preferred Securities Guarantee Trustee |
||||||
| By: | ||||||
| Title: | ||||||
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