Exhibit 10.10a

October 12, 2012

SolarCity Corporation

3055 Clearview Way

San Mateo, CA 94127

 

  RE: Consent to Revision of Post-Closing Requirements and Schedule 5.21(g)(ii)
of the Revolving Credit Agreement

Ladies and Gentlemen:

Reference is made to that certain Credit Agreement dated as of September 10,
2012 (the “Revolving Credit Agreement”) among SolarCity Corporation, a Delaware
corporation (“Borrower”), the guarantors thereunder, the Lenders thereunder
(“Revolving Lenders”), Bank of America, N.A., as administrative agent (in such
capacity, “Revolving Facility Agent”), and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, as sole lead arranger and sole book manager.

Pursuant to Section 6.18(e) of the Revolving Credit Agreement, Borrower is
required to provide evidence the UCC financing statement recorded with the
Delaware Secretary of State on March 19, 2009 with the filing number 90892031,
naming Duvera Billing Services, LLC as the secured party thereunder and Borrower
as the debtor thereunder (the “Duvera Lien”), has been properly terminated
within 60 days of the Closing Date. Borrower informed Revolving Facility Agent
and the Revolving Lenders that in connection with the Duvera Lien, certain
obligations relating to performance based incentives by the California Solar
Initiative Program remain outstanding and are secured by the Duvera Lien.
Accordingly, Borrower has requested Section 6.18(e) of the Revolving Credit
Agreement be deleted in its entirety.

Pursuant to Section 5.21(g) of the Revolving Credit Agreement, Borrower is
required to list each location where any personal property Collateral is located
at any premises owned or leased by a Loan Party with a Collateral value in
excess of $1,000,000. Borrower identified, in part (D) of Schedule 5.21(g)(ii),
the Cranbury Township warehouse as containing inventory in excess of $1,000,000
but subsequent to the Closing Date determined such warehouse contains inventory
below such threshold. Borrower also informed the Revolving Lenders of additional
corrections to Schedule 5.21(g)(ii). Accordingly, Borrower has requested that
Schedule 5.21(g)(ii) of the Revolving Credit Agreement be deleted in its
entirety and replaced with the Schedule 5.21(g)(ii) attached hereto.

Revolving Facility Agent and Revolving Lenders (by their acceptance and
agreement below) hereby (i) consent and authorize the deletion of
Section 6.18(e) of the Revolving Credit Agreement in its entirety; and
(ii) consent and authorize the deletion of Schedule 5.21(g)(ii) of the Revolving
Credit Agreement in its entirety and replacement with Schedule 5.21(g)(ii)
attached hereto.

The consents set forth above shall be effective only in this specific instance
and for the specific purpose for which it is given, and this consent shall not
entitle Borrower to any other or further

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consent or waiver in any similar or other circumstances. The consent set forth
above shall be limited precisely as written and shall not be deemed to (a) be a
waiver or modification of any other term or condition of the Revolving Credit
Agreement or any other Loan Document (as defined in the Revolving Credit
Agreement) or (b) prejudice any right or remedy which Revolving Facility Agent
or Revolving Lenders may now have or may have in the future under or in
connection with the Revolving Credit Agreement or any Loan Document (as defined
in the Revolving Credit Agreement).

This letter agreement may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so
executed and delivered shall be an original, but all of which shall together
constitute one and the same instrument. Delivery of an executed counterpart of
this letter agreement by telefacsimile or other electronic transmission shall be
equally as effective as delivery of an original executed counterpart of this
letter agreement. Any party delivering an executed counterpart of this letter
agreement by telefacsimile or other electronic transmission shall also deliver
an original executed counterpart of this letter agreement, but the failure to do
so shall not affect the validity, enforceability or binding effect of this
letter agreement.

Please acknowledge your receipt of this letter agreement and acceptance of the
foregoing terms and conditions by signing and dating the enclosed counterpart of
this letter agreement where indicated below and returning the same to the
undersigned as soon as possible.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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If the foregoing is in accordance with your understanding, please sign and
return this letter agreement to us.

 

BANK OF AMERICA, N.A., as

Administrative Agent

By:  

 /s/ Rosanne Parsill

  Rosanne Parsill   Vice President, Agency Management

Consent Letter - Revolving Credit Agreement

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ACCEPTED AND AGREED TO AS OF THE DATE FIRST ABOVE WRITTEN:

BANK OF AMERICA, N.A.,

as Revolving Lender

By:  

 /s/ John R. Dauphin

Name:   John R. Dauphin Title:   Vice President

Consent Letter - Revolving Credit Agreement

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BRIDGE BANK, NATIONAL ASSOCIATION,

as a Revolving Lender

By:  

 /s/ Molly Hendry

Name:   Molly Hendry Title:   Vice President

Consent Letter - Revolving Credit Agreement

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Revolving Lender By:  

 /s/ Bill O’Daly

Name:   Bill O’Daly Title:   Director By:  

 /s/ Tyler R. Smith

Name:   Tyler R. Smith Title:   Associate

Consent Letter - Revolving Credit Agreement

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SOLARCITY CORPORATION By:  

 /s/ Robert Kelly

Name:   Robert Kelly Title:   Chief Financial Officer

Consent Letter - Revolving Credit Agreement

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SCHEDULE 5.21(g)(ii)

Other Properties

(A)

 

Address

  

County

  

Leased or

owned

  

If leased, name of

lessor

  

To the extent owned,

approximate fair market
value of such property

3055 Clearview Way

San Mateo, CA 94402

   San Mateo    Leased    [Lessor]    N/A

2855 Campus Drive

San Mateo, CA 94403

   San Mateo    Leased    [Lessor]    N/A

(B)

 

Location

  

Address

   County    Leased
or owned    If leased, name of
lessor   To the extent owned,
approximate fair
market value of such
property Washington, DC    575 7th Street, NW Suite 400 Washington, DC 20004   
District of Columbia    Leased    [Lessor]   N/A

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(C)

 

Location

  

Address

  

County

  

Leased
or owned

  

If leased, name of
lessor

  

To the extent owned,
approximate fair
market value of such
property

Dewey    3600 State Route 69 Dewey, AZ 86327    Yavapai    Leased    [Lessor]   
N/A Phoenix (North) Deer Valley    1725 West Williams Bldg E, Suites 56-60
Phoenix, AZ 85027    Maricopa    Leased    [Lessor]    N/A Phoenix (South)   

3834 E. Roeser Road

Phoenix, AZ 85040

   Maricopa    Leased    [Lessor]    N/A Phoenix (South)    5401 S. 37th St.
Phoenix, AZ 85040    Maricopa    Leased    [Lessor]    N/A Tucson    4651 S.
Butterfield, Suite 102 Tucson, AZ 85714    Pima    Leased    [Lessor]    N/A
Bakersfield   

5206 Young Street, Suites C & D

Bakersfield, CA 93311

   Kern    Leased    [Lessor]    N/A Berkeley   

1501 Eastshore Frontage Road

Berkeley, CA 94710

   Alameda    Leased    [Lessor]    N/A Foster City   

391 Foster City Blvd

Foster City, CA 94404

   San Mateo    Leased    [Lessor]    N/A Fresno   

2310 N. Larkin Ave

Fresno, CA 93727

   Fresno    Leased    [Lessor]    N/A Los Angeles   

6334 Arizona Place

Los Angeles, CA 90045

   Los Angeles    Leased    [Lessor]    N/A Lancaster (Resi)   

249 East Avenue K8

Bldg 2, Units 109, 111 & 113 Lancaster, CA 93534

   Los Angeles    Leased    [Lessor]    N/A Pomona   

2896 Metropolitan Place

Pomona, CA 91767

   Los Angeles    Leased    [Lessor]    N/A Sacramento    2709 Academy Way,
Suite 300 Sacramento, CA 95815    Sacramento    Leased    [Lessor]    N/A San
Diego   

5183 Mercury Point

San Diego, CA 92111

   San Diego    Leased    [Lessor]    N/A

 

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Location

  

Address

  

County

  

Leased
or owned

  

If leased, name of
lessor

  

To the extent owned,
approximate fair
market value of such
property

Santa Ana   

2165 South Grand Ave

Santa Ana, CA 92705

   Orange    Leased    [Lessor]    N/A Temecula    42345 Avenida Alvarado, Suite
B Temecula, CA 92590    Riverside    Leased    [Lessor]    N/A Torrance   

1347 West Storm Parkway

Suites E and F Torrance, CA 90501

   Los Angeles    Leased    [Lessor]    N/A Denver   

490 East 76th Ave, Unit 3A

Denver, CO 80229

   Adams    Leased    [Lessor]    N/A Parker   

15690 Parkerhouse Road

Parker, CO 80134

   Douglas    Leased    [Lessor]    N/A Rocky Hill   

714 Brook Street

Rocky Hill, CT 06067

   Hartford    Leased    [Lessor]    N/A Wethersfield   

61 Arrow Road, #202

Wethersfield, CT 06109

   Hartford    Leased    [Lessor]    N/A Mililani   

599 Kahelu Ave

Mililani, HI 96789

   Honolulu    Leased    [Lessor]    N/A Marlborough   

24 St. Martin Drive

Building 2, Unit 11 Marlborough, MA 01752

   Middlesex    Leased    [Lessor]    N/A Beltsville    9000 Virginia Manor
Road, # 250 Beltsville, MD 20705    Prince George’s    Leased    [Lessor]    N/A
Silver Spring   

2319 Stewart Ave

Silver Spring, MD 20910

   Montgomery    Leased    [Lessor]    N/A Cherry Hill   

1930 East Marlton Pike

Cherry Hill, NJ 08003

   Camden    Leased    [Lessor]    N/A

 

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Location

  

Address

  

County

  

Leased
or owned

  

If leased, name of
lessor

  

To the extent owned,
approximate fair
market value of such
property

Colonie   

12 Petra Lane

Colonie, NY 12205

   Albany    Leased    [Lessor]    N/A Albany   

6 Vatrano Road

Albany, NY 12205

   Albany    Leased    [Lessor]    N/A Brooklyn   

155 Water St

2nd Floor, Unit 3

Brooklyn, NY 11201

   Kings    Leased    [Lessor]    N/A Portland   

6132 NE 112th Avenue

Portland, OR 97220

   Multnomah    Leased    [Lessor]    N/A Broomall   

800 Parkway Blvd

Broomall, PA 19008

   Delaware    Leased    [Lessor]    N/A Dallas   

10430 Shady Trail, Suite 108

Dallas, TX 75220

   Dallas    Leased    [Lessor]    N/A Mississauga   

6690 Goreway Drive

Mississauga, ON L4V 1S6 Canada

   Ontario (province)    Leased    [Lessor]    Chandler   

235 S. 56th Street

Chandler, AZ 85226

   Maricopa    Leased    [Lessor]    N/A Hayward   

23541 Eichler St

Hayward, CA 94545 2816 W. Winton Hayward, CA 945451

   Alameda    Leased    [Lessor]    N/A Rancho Cucamonga   

12200 Arrow Route

Rancho Cucamonga, CA 91739

   San Bernardino    Leased    [Lessor]    N/A

 

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Location

  

Address

  

County

  

Leased
or owned

  

If leased, name of
lessor

  

To the extent owned,
approximate fair
market value of such
property

Allentown   

7542 Morris Court

Allentown, PA 18106

7566 Morris Court

Allentown, PA 181061

   Lehigh    Leased    [Lessor]    N/A Westchester   

203 Ridgewood Drive

Elmsford, NY 10523

   Westchester    Leased    [Lessor]    N/A Honolulu   

933 N. Nimitz Hwy

Honolulu, HI 96817

   Honolulu    Leased    [Lessor]    N/A Cranbury Township   

9 Corporate Drive

Cranbury Township, NJ 08512

   Middlesex    Leased    [Lessor]    N/A

(D)2

 

Location

  

Address

  

County

  

Leased
or owned

  

If leased, name of
lessor

  

To the extent owned,
approximate fair
market value of such
property

Hayward   

23541 Eichler St

Hayward, CA 94545

2816 W. Winton Hayward, CA 945451

   Alameda    Leased    [Lessor]    N/A Rancho Cucamonga   

12200 Arrow Route

Rancho Cucamonga, CA 91739

   San Bernardino    Leased    [Lessor]    N/A Allentown   

7542 Morris Court

Allentown, PA 18106

7566 Morris Court

Allentown, PA 1810611

   Lehigh    Leased    [Lessor]    N/A Elmsford   

203 Ridgewood Drive

Elmsford, NY 10523

   Westchester    Leased    [Lessor]    N/A Mililani   

599 Kahelu Ave

Mililani, HI 96789

   Honolulu    Leased    [Lessor]    N/A

 

1 

This location is used to hold overflow inventory from the primary location.

2 

Information provided for warehouses that hold more than $1 million in
Collateral.

 

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