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July 25, 2013 /PRNewswire/ -- A group of senior unsecured noteholders of Edison Mission Energy ("EME") delivered a notice of termination (the "Termination Notice") of the Transaction Support Agreement (the "Transaction Support Agreement"), dated
December 16, 2012, by and among Edison International ("EIX"), EME and certain holders of EME's senior unsecured notes (the "Consenting Noteholders"), to EIX and EME.
According to the Termination Notice, the Transaction Support Agreement will automatically terminate and be of no further force and effect as to the Consenting Noteholders, effective as of
August 1, 2013 at
11:59 p.m. (prevailing Eastern Time).
A copy of the Termination Notice is attached as Exhibit A.
Tim LarimerRopes & Gray LLP1211 Avenue of the Americas
New York, New York 10036(212) 596-9414
July 25, 2013BY FACSIMILE AND E-MAILMunger Tolles & Olson LLP355 South Grand Ave.Attn.:
Thomas B. WalperLos Angeles, California 90071Fax: (213) 687-3702Kirkland & Ellis LLP300 North LaSalle Street
Chicago, Illinois 60654Attn:
James H.M. Sprayregen, P.C.
David R. Seligman, P.C.Fax: (312) 862-2200Kirkland & Ellis LLP601 Lexington Avenue
New York, New York 10022Attn.:
Joshua A. SussbergFax: (212) 446-4900
Re: Notice of Termination
Reference is made to that certain Transaction Support Agreement (the "
Transaction Support Agreement"), dated
December 16, 2012, by and among Edison Mission Energy (the "
Company"), Edison International ("
EIX"), and the holders of the Company's senior unsecured notes party thereto (collectively, with their respective permitted successors and assigns, the "
Consenting Noteholders," and each, a "
Consenting Noteholder"). Capitalized terms used herein and not otherwise defined herein shall have the meanings attributed to such terms in the Transaction Support Agreement.
The undersigned Consenting Noteholders hereby deliver this Notice of Required Consenting Noteholder Termination Events pursuant to Section 8 of the Transaction Support Agreement (the "
Among other things, the undersigned Consenting Noteholders hereby notify EIX and the Company of certain Required Consenting Noteholder Termination Events under Section 8 of the July 25, 2013 Transaction Support Agreement have occurred. Pursuant to Section 8(h) of the Transaction Support Agreement, (i) the Parties have not agreed to the terms of the MRA and MRA Agreements within one-hundred fifty (150) calendar days after the Petition Date, and (ii) an order of the Bankruptcy Court approving the Settlement Transaction has not been entered by two-hundred ten (210) days after the Petition Date.