This excerpt taken from the PWER 8-K filed May 8, 2009.
Amendment to Pledge Agreement
In connection with the Supplemental Indenture, the Company entered into a First Amendment to the Pledge and Security Agreement dated as of May 8, 2009 (the Pledge Amendment) among the Company and certain subsidiaries of the Company party thereto (the Pledgors) in favor of
The Bank Of New York Mellon Trust Company, N.A., a national banking association (the Collateral Agent), amending the Pledge and Security Agreement dated as of June 17, 2008 (the Pledge Agreement) among the Company, the Pledgors and the Collateral Agent. The Pledge Amendment amends the Pledge Agreement to permit, among other things, the pledging of additional security interests against the collateral securing the 8% Notes and to also allow certain dispositions by the Company of the collateral, in each case, consistent with the terms of the 8% Notes Indenture as modified by the Supplemental Indenture.
The foregoing description of the Pledge Amendment is qualified in its entirety by reference to the Pledge Amendment attached hereto as Exhibit 10.2 and incorporated herein by reference.
Descriptions of the agreements and instruments referenced in this Item 1.01 are not complete and investors should review the exhibits referred to and incorporated herein for a more complete understanding of those documents.