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Exhibit 10.3 FOURTH AMENDMENT TO CREDIT AND GUARANTY AGREEMENT THIS FOURTH
AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”) is dated as of
March 30, 2016 and is entered into by and among TERRAFORM POWER OPERATING, LLC,
a Delaware limited liability company (“Borrower’’), the other Credit Parties
party hereto, BARCLAYS BANK PLC (“Barclays”), as a Lender and as Administrative
Agent (“Administrative Agent”) and the other Lenders party hereto, and is made
with reference to that certain CREDIT AND GUARANTY AGREEMENT dated as of January
28, 2015 (as amended through the date hereof, the “Credit Agreement”) by and
among Borrower, TERRAFORM POWER, LLC, a Delaware limited liability company, the
subsidiaries of Borrower named therein, the Lenders, the Administrative Agent,
Collateral Agent and the other Agents named therein. Capitalized terms used
herein without definition shall have the same meanings herein as set forth in
the Credit Agreement after giving effect to this Amendment. RECITALS WHEREAS,
the Credit Parties have requested that the Requisite Lenders and Administrative
Agent agree to amend certain provisions of the Credit Agreement as provided for
herein; and WHEREAS, subject to certain conditions, the Requisite Lenders and
Administrative Agent are willing to agree to such amendments relating to the
Credit Agreement. NOW, THEREFORE, in consideration of the premises and the
agreements, provisions and covenants herein contained, the parties hereto agree
as follows: SECTION I. AMENDMENTS TO CREDIT AGREEMENT A. Section 5.1(c) of the
Credit Agreement is hereby amended to insert the following proviso immediately
following the phrase “in accordance with generally accepted auditing
standards);” appearing therein: “provided that, notwithstanding anything herein
to the contrary, the financial statements and accompanying report delivered
pursuant to this Section 5.1(c) with respect to the Fiscal Year ending December
31, 2015 shall be delivered on or before April 30, 2016;” B. Section 9 of the
Credit Agreement shall be amended to add Section 9.11 thereto in applicable
numerical sequence as follows: “9.11. Engagement of Financial Consultant by
Administrative Agent. Administrative Agent or its counsel may, at Administrative
Agent’s sole discretion, engage one or more financial or other advisors or
consultants satisfactory to Administrative Agent, to advise and assist
Administrative Agent, Administrative Agent’s counsel, and Lenders with their on-
going assessment of Borrower’s financial performance and its ability to repay
the Obligations. Each Credit Party will, and will cause each of its Subsidiaries
to, permit any such advisor or consultant to visit and inspect any of the
properties of any Credit Party and any of its respective Subsidiaries, to
inspect, copy and take extracts from its and their financial and accounting
records, and to discuss its and their affairs, finances and accounts with its
and their officers and independent public accountants, all upon reasonable
notice and at such reasonable times during normal business hours and as often as
may reasonably be requested. Such financial or other

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Exhibit 10.3 2 advisors or consultants shall comply with the Section 10.17
(Confidentiality) of the Credit Agreement as if such advisor or consultant were
a Lender. Administrative Agent and Lenders may elect to maintain the
confidentiality of any conclusions reached or reports prepared by any such
advisor or consultant and may also provide that any such advisor’s or
consultant’s conclusions shall be covered by the attorney work-product
privilege. Each Credit Party agrees to reimburse Administrative Agent for any
and all reasonable fees and expenses of any such advisor or consultant in
accordance with Section 10.3 of the Credit Agreement.” SECTION II. CONDITIONS TO
EFFECTIVENESS This Amendment shall become effective as of the date hereof only
upon the satisfaction of all of the following conditions precedent (the date of
satisfaction of such conditions being referred to herein as the “Fourth
Amendment Effective Date”): A. Execution. Administrative Agent shall have
received a counterpart signature page of this Amendment duly executed by each of
the Credit Parties, the Administrative Agent, the Collateral Agent and the
Requisite Lenders. B. Representations and Warranties. The representations and
warranties contained in Section III hereof and in Sections 4.1, 4.2, 4.3, 4.4,
4.5, 4.6, and 4.25 of the Credit Agreement shall be true and correct in all
material respects on and as of the date hereof to the same extent as though made
on and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case such representations and
warranties shall have been true and correct in all material respects on and as
of such earlier date; provided that, in each case, such materiality qualifier
shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof. C. Default. As of the
date hereof, no event shall have occurred and be continuing or would result from
the effectiveness of this Amendment that would constitute an Event of Default or
a Default. D. Consulting Services Engagement Letter. Administrative Agent shall
have received a counterpart signature page of the consulting services engagement
letter (the “Engagement Letter”), dated on or about the date hereof, duly
executed by each of Zolfo Cooper, LLC (“ZC”), Latham & Watkins LLP, the
Administrative Agent and Parent and its subsidiaries. E. Fees. The
Administrative Agent shall have received, or shall have received satisfactory
confirmation of payment of, all fees and other amounts due and payable on or
prior to the Fourth Amendment Effective Date, including (i) the retainer payable
to ZC pursuant to the Engagement Letter and (ii) to the extent invoiced, all
out-of-pocket expenses required to be reimbursed or paid by the Borrower
hereunder or under any other Credit Document. SECTION III. REPRESENTATIONS AND
WARRANTIES In order to induce Administrative Agent and the Requisite Lenders to
enter into this Amendment and to amend the Credit Agreement in the manner
provided herein, each Credit Party party hereto represents and warrants to
Administrative Agent that the following statements are true and correct in all
respects: A. Corporate Power and Authority. Each Credit Party party hereto has
all requisite power and authority to enter into this Amendment and to carry out
the transactions contemplated by, and

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Exhibit 10.3 3 perform its obligations under, the Credit Agreement as amended by
this Amendment (the “Amended Agreement”) and the other Credit Documents. B.
Authorization of Agreements. The execution and delivery of this Amendment and
the performance of the Amended Agreement and the other Credit Documents have
been duly authorized by all necessary action on the part of each Credit Party.
C. No Conflict. The execution and delivery by each Credit Party of this
Amendment and the performance by each Credit Party of the Amended Agreement and
the other Credit Documents do not and will not (i) violate (A) any provision of
any law, statute, rule or regulation, or of the certificate or articles of
incorporation or partnership agreement, other constitutive documents or by-laws
of Borrower or any Credit Party or (B) any applicable order of any court or any
rule, regulation or order of any Governmental Authority, (ii) be in conflict
with, result in a breach of or constitute (alone or with notice or lapse of time
or both) a default under any Contractual Obligation of the applicable Credit
Party, where any such conflict, violation, breach or default referred to in
clause (i) or (ii) of this Section III.C., individually or in the aggregate
could reasonably be expected to have a Material Adverse Effect, (iii) except as
permitted under the Amended Agreement, result in or require the creation or
imposition of any Lien upon any of the properties or assets of any Credit Party
(other than any Liens created under any of the Credit Documents in favor of
Collateral Agent on behalf of Lenders), or (iv) require any approval of
stockholders or partners or any approval or consent of any Person under any
Contractual Obligation of any Credit Party, except for such approvals or
consents which will be obtained on or before the date hereof and except for any
such approvals or consents the failure of which to obtain will not have a
Material Adverse Effect. D. Governmental Consents. No action, consent or
approval of, registration or filing with or any other action by any Governmental
Authority is or will be required in connection with the execution and delivery
by each Credit Party of this Amendment and the performance by each Credit Party
of the Amended Agreement and the other Credit Documents, except for such
actions, consents and approvals the failure to obtain or make which could not
reasonably be expected to result in a Material Adverse Effect or which have been
obtained and are in full force and effect. E. Binding Obligation. This Amendment
and the Amended Agreement have been duly executed and delivered by each of the
Credit Parties party hereto and thereto and each constitutes a legal, valid and
binding obligation of such Credit Party, to the extent a party hereto and
thereto, enforceable against such Credit Party in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency, moratorium,
reorganization or other similar laws affecting creditors’ rights generally and
except as enforceability may be limited by general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law). F. Incorporation of Representations and Warranties from
Credit Agreement. The representations and warranties contained in Sections 4.1,
4.2, 4.3, 4.4, 4.5, 4.6, and 4.25 of the Amended Agreement are and will be true
and correct in all material respects on and as of the date hereof to the same
extent as though made on and as of that date, except to the extent such
representations and warranties specifically relate to an earlier date, in which
case they were true and correct in all material respects on and as of such
earlier date; provided that, in each case, such materiality qualifier shall not
be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof. G. Absence of Default. No event
has occurred and is continuing or will result from the consummation of the
transactions contemplated by this Amendment that would constitute an Event of
Default or a Default.

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Exhibit 10.3 4 SECTION IV. ACKNOWLEDGMENT AND CONSENT; REAFFIRMATION Each Credit
Party hereby acknowledges that it has reviewed the terms and provisions of the
Credit Agreement and this Amendment and consents to the amendment of the Credit
Agreement effected pursuant to this Amendment. Each Credit Party hereby confirms
and reaffirms that each Credit Document to which it is a party or otherwise
bound and all Collateral encumbered thereby will continue to guarantee or
secure, as the case may be, to the fullest extent possible in accordance with
the Credit Documents the payment and performance of all “Obligations” and
“Secured Obligations”, as applicable, under each of the Credit Documents to
which it is a party (in each case as such terms are defined in the applicable
Credit Document). Each Credit Party acknowledges and agrees that, after giving
effect to this Amendment, any of the Credit Documents to which it is a party or
otherwise bound shall continue in full force and effect and that all of its
obligations thereunder shall be valid and enforceable and shall not be impaired
or limited by the execution or effectiveness of this Amendment. As of the Fourth
Amendment Effective Date, each Credit Party reaffirms each Lien it granted to
the Collateral Agent for the benefit of the Secured Parties, and any Liens that
were otherwise created or arose under each of the Credit Documents to which such
Credit Party is party and reaffirms the guaranties made in favor of each Secured
Party under each of the Credit Documents to which such Credit Party is party,
which Liens and guaranties shall continue in full force and effect during the
term of the Credit Agreement and any amendments, amendments and restatements,
supplements or other modifications thereof and shall continue to secure the
Obligations of the Borrower and the other Credit Parties under any Credit
Document, in each case, on and subject to the terms and conditions set forth in
the Credit Agreement and the Credit Documents. Each Guarantor acknowledges and
agrees that (i) notwithstanding the conditions to effectiveness set forth in
this Amendment, such Guarantor is not required by the terms of the Credit
Agreement or any other Credit Document to consent to the amendments to the
Credit Agreement effected pursuant to this Amendment and (ii) nothing in the
Credit Agreement, this Amendment or any other Credit Document shall be deemed to
require the consent of such Guarantor to any future amendments to the Credit
Agreement. SECTION V. MISCELLANEOUS A. Reference to and Effect on the Credit
Agreement and the Other Credit Documents. (i) On and after the Fourth Amendment
Effective Date, each reference in the Credit Agreement to “this Agreement”,
“hereunder”, “hereof”, “herein” or words of like import referring to the Credit
Agreement, and each reference in the other Credit Documents to the “Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement shall mean and be a reference to the Credit Agreement as
amended by this Amendment. (ii) Except as specifically amended by this
Amendment, the Credit Agreement and the other Credit Documents shall remain in
full force and effect and are hereby ratified and confirmed. (iii) The
execution, delivery and performance of this Amendment shall not constitute a
waiver of any provision of, or operate as a waiver of any right, power or remedy
of any Agent or Lender under, the Credit Agreement or any of the other Credit
Documents.

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Exhibit 10.3 5 B. Headings. Section headings herein are included herein for
convenience of reference only and shall not constitute a part hereof for any
other purpose or be given any substantive effect. C. Applicable Law. THIS
AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING,
WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT
OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO
POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY
LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. D. Counterparts. This Amendment
may be executed in any number of counterparts, each of which when so executed
and delivered shall be deemed an original, but all such counterparts together
shall constitute but one and the same instrument. Delivery of an executed
counterpart of a signature page of this Amendment by facsimile or in electronic
format (i.e., “pdf” or “tif”) shall be effective as delivery of a manually
executed counterpart of this Amendment. E. Credit Document. This Amendment shall
constitute a Credit Document. [Remainder of this page intentionally left blank.]

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above. TERRAFORM POWER, LLC By: /s/
Rebecca Cranna Name: Rebecca Cranna Title: Executive Vice President and Chief
Financial Officer TERRAFORM POWER OPERATING, LLC By: TERRAFORM POWER, LLC, its
Sole Member and Sole Manager By: /s/ Rebecca Cranna Name: Rebecca Cranna Title:
Executive Vice President and Chief Financial Officer

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] SUNEDISON CANADA YIELDCO MASTER HOLDCO, LLC SUNEDISON YIELDCO CHILE
MASTER HOLDCO, LLC SUNEDISON YIELDCO DG–VIII MASTER HOLDCO, LLC SUNEDISON
YIELDCO UK HOLDCO 3 MASTER HOLDCO, LLC SUNEDISON YIELDCO UK HOLDCO 2 MASTER
HOLDCO, LLC SUNEDISON YIELDCO NELLIS MASTER HOLDCO, LLC SUNEDISON YIELDCO
REGULUS MASTER HOLDCO, LLC SUNEDISON YIELDCO ACQ1 MASTER HOLDCO, LLC SUNEDISON
YIELDCO ACQ2 MASTER HOLDCO, LLC SUNEDISON YIELDCO ACQ3 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ9 MASTER HOLDCO, LLC SUNEDISON YIELDCO ACQ4 MASTER HOLDCO,
LLC SUNEDISON YIELDCO ACQ5 MASTER HOLDCO, LLC SUNEDISON YIELDCO ENFINITY MASTER
HOLDCO, LLC SUNEDISON YIELDCO DGS MASTER HOLDCO, LLC SUNEDISON YIELDCO ACQ7
MASTER HOLDCO, LLC SUNEDISON YIELDCO ACQ8 MASTER HOLDCO, LLC SUNEDISON YIELDCO
ACQ6 MASTER HOLDCO, LLC TERRAFORM POWER IVS I MASTER HOLDCO, LLC TERRAFORM LPT
ACQ MASTER HOLDCO, LLC TERRAFORM SOLAR MASTER HOLDCO, LLC SUNEDISON YIELDCO DG
MASTER HOLDCO, LLC TERRAFORM CD ACQ MASTER HOLDCO, LLC TERRAFORM REC ACQ MASTER
HOLDCO, LLC TERRAFORM SOLAR XVII ACQ MASTER HOLDCO, LLC TERRAFORM FIRST WIND ACQ
MASTER HOLDCO, LLC By: TERRAFORM POWER OPERATING, LLC, its Sole Member and Sole
Manager By: TERRAFORM POWER, LLC, its Sole Member and Sole Manager By: /s/
Rebecca Cranna Name: Rebecca Cranna Title: Executive Vice President and Chief
Financial Officer

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] BARCLAYS BANK PLC, as Administrative Agent, Collateral Agent, Swing
Line Lender and as a Lender By: __/s/ Matthew Cybul_________________ Matthew
Cybul Authorized Signatory

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] BANK OF AMERICA, N.A., as a Lender By: ___/s/ Mark Godfriaux
____________________ Mark Godfriaux Vice President

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] CITIBANK, N.A., as a Lender By: ___/s/ Carl Cho____________________
Carl Cho Authorized Signatory Vice President

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] GOLDMAN SACHS BANK USA, as a Lender By: ___/s/ Authorized
Signatory_______________ Authorized Signatory

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] MIHI LLC, as a Lender By: ___/s/ Ayesha Farooqi____________________
Ayesha Farooqi Authorized Signatory MIHI LLC, as a Lender By: ___/s/ Michael
Barrish_______________ Michael Barrish Authorized Signatory

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] UBS AG, Stamford Branch, as a Lender By: ___/s/ Darlene
Arias____________________ Darlene Arias Director By: ___/s/ Houssem
Daly_______________ Houssem Daly Associate Director

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] KEY BANK NATIONAL ASSOCIATION, as a Lender By: ___/s/ Authorized
Signatory _______________ Authorized Signatory

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] ROYAL BANK OF CANADA, as a Lender By: ___/s/ H. Christopher
DeCotiis_____________ H. Christopher DeCotiis Attorney-in-fact

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] MORGAN STANLEY BANK, N.A., as a Lender By: ___/s/ Authorized
Signatory _______________ Authorized Signatory

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] MORGAN STANLEY SENIOR FUNDING, INC., as a Lender By: ___/s/
Authorized Signatory _______________ Vice President

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Exhibit 10.3 [Signature Page to Fourth Amendment to Credit and Guaranty
Agreement] SANTANDER BANK, N.A., as a Lender By: ___/s/ William
Maag_______________ William Maag Managing Director

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