Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 154

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 7
Chunk 154
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 to borrow up to $1.75 billion from BEPC. Each of the Subordinated Credit Facilities contemplates potential deposit arrangements pursuant to which the lender thereunder would, with the consent of a borrower, deposit funds on a demand basis to such borrower’s account at a reduced rate of interest.

In connection with the Arrangement, BEPC, as borrower, entered into a credit agreement with the partnership, as lender, providing for a ten-year revolving $150 million credit facility to facilitate the movement of cash within our group (the “BEPC Subordinated Credit Facility”). The BEPC Subordinated Credit Facility terminates on December 24, 2034. BEPC has also entered into two deposit agreements with the partnership, one as depositor and one as depositee, pursuant to which the depositor may, with the consent of the depositee, deposits funds on a demand basis to such depositee’s account at a rate of interest equal to CORRA or SOFR, without additional margins.

The Reciprocal Subordinated Credit Facilities and the BEPC Subordinate Credit Facility are available in U. S. or Canadian dollars, and advances are made by way of SOFR, base rate, CORRA or prime rate loans.

Any amendment, modification or waiver to the Reciprocal Subordinated Credit Facility in which BRHC’s subsidiary is the borrower that would reasonably be expected to impact the economic equivalence of a BEPC exchangeable share with a LP unit, requires the affirmative vote of holders of a majority of the outstanding BEPC exchangeable shares not held by Brookfield or its affiliates, voting as a class or, in the event that there is more than one non-overlapping director, the approval of a majority of such non-overlapping directors.

Equity Commitment Agreement

The partnership provides to BRHC an equity commitment in the amount of $1 billion pursuant to an amended and restated equity commitment agreement (the “Equity Commitment Agreement”). The equity commitment may be called by BRHC in exchange for the issuance of a number of class C non-voting shares of BRHC (“ class C shares”) to the partnership, corresponding to the amount of the equity commitment called divided by the fair market value of a class C share. The equity commitment is available in minimum amounts of $10 million and the amount available under the equity commitment will be reduced permanently by the amount so called. Before funds may be called on the equity commitment, a number of conditions precedent must be met, including that the partnership continues to control BEPC and has the