Exhibit 10.21b

CONFIDENTIAL TREATMENT REQUESTED

Certain portions of this document have been omitted pursuant to a request for
Confidential Treatment and, where applicable, have been marked with “[***]” to
indicate where omissions have been made. The confidential material has been
filed separately with the Securities and Exchange Commission.

AMENDMENT No. 2 to CREDIT AGREEMENT

This AMENDMENT NO. 2 TO CREDIT AGREEMENT (this “Amendment”) is entered into as
of April 22, 2016, by and among MAKO SOLAR, LLC, a Delaware limited liability
company (the “Borrower”), MAKO SOLAR HOLDINGS, LLC, a Delaware limited liability
company (the “Member”), [***], a Delaware limited liability company (“Fund I
Manager”), [***], a Delaware limited liability company (“Fund II Manager”),
[***], a Delaware limited liability company (“Fund III Manager”), SOLARCITY
CORPORATION, a Delaware corporation solely in its capacity as a limited
guarantor (the “Limited Guarantor”), each lender from time to time party hereto
(collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA,
N.A., as the administrative agent for the Lenders (in such capacity, together
with its successors and assigns, the “Administrative Agent”), as the collateral
agent for the Secured Parties (in such capacity, together with its successors
and assigns, the “Collateral Agent” and together with the Administrative Agent,
the “Agents”), and as a Lender. Capitalized terms used herein but undefined
shall have the meanings set forth in the Credit Agreement.

RECITALS

WHEREAS, the parties entered into that certain Credit Agreement, dated as of
January 15, 2016 (as amended, supplemented or modified from time to time, the
“Credit Agreement”), by and among the Borrower, the Member, Fund I Manager, Fund
II Manager, Fund III Manager, the Limited Guarantor and each lender party
thereto;

WHEREAS, the parties desire to amend Schedule 2.01(c) of the Credit Agreement to
provide for a revised amortization schedule;

WHEREAS, Bank of America, N.A., its successors and assigns, as lender, and the
lenders party hereto constitute the Required Lenders pursuant to Section
10.01(a) of the Credit Agreement.

NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth,
and for other good and adequate consideration, the receipt and sufficiency of
which are hereby acknowledged, the Transaction Parties hereby agree as follows:

Section 1.02Amendment to the Credit Agreement. Schedule 2.01(c) of the Credit
Agreement is amended by deleting it entirely and replacing it with the attached
Annex A.

[***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the
Securities and Exchange Commission.

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Section 1.03.References in all Transaction Documents. To the extent any
Operative Document contains a provision that conflicts with the intent of this
Amendment, the parties agree that the provisions herein shall govern.

Section 1.04.Counterparts. This Amendment may be executed (by facsimile,
electronic mail or otherwise) in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such counterparts shall
constitute but one and the same instrument.

Section 1.05.Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE TRANSACTION PARTIES SHALL BE DETERMINED
IN ACCORDANCE WITH SUCH LAWS.

Section 1.06.Severability of Provisions. If any one or more of the covenants,
agreements, provisions or terms of this Amendment shall be for any reason
whatsoever held invalid, then such covenants, agreements, provisions or terms
shall be deemed severable from the remaining covenants, agreements, provisions
or terms of this Amendment and shall in no way affect the validity or
enforceability of the other provisions of this Amendment.

Section 1.07.Continuing Effect. Except as expressly amended hereby, each
Operative Document shall continue in full force and effect in accordance with
the provisions thereof and each Operative Document is in all respects hereby
ratified, confirmed and preserved.  

Section 1.08.Successors and Assigns. This Amendment shall be binding upon and
inure to the benefit of each party to the Operative Documents, their respective
successors and permitted assigns.

 

[Signature pages follow]

 

2

[***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the
Securities and Exchange Commission.

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IN WITNESS WHEREOF, the parties below have caused this Amendment to be duly
executed by their respective duly authorized officers of the day and year first
above written.

 

MAKO SOLAR, LLC,
a Delaware limited liability company,
as the Borrower

 

By: /s/ Lyndon Rive

Name: Lyndon Rive

Title: President

 

 

 

Agreed solely with respect to Section 10.01

 

SOLARCITY CORPORATION, as Limited Guarantor

 

By: /s/ Lyndon Rive

Name: Lyndon Rive

Title: Chief Executive Officer

 

 

 

bank of america, n.a.,
as Administrative Agent

 

By: /s/ Mollie S. Canup

Name: Mollie S. Canup

Title: Vice President

 

 

 

bank of america, n.a.,
as Collateral Agent

 

By: /s/ Mollie S. Canup

Name: Mollie S. Canup

Title: Vice President

 

 

 

bank of america, n.a.,
as a Lender

 

By: /s/ Sheikh Omer-Farooq

Name: Sheikh Omer-Farooq

Title: Managing Director

 

 

 

keybank National Association,
as a Lender

 

By: /s/ Benjamin C. Cooper

Name: Benjamin C. Cooper

Title: Vice President

 

 

Amendment No. 2 to Credit Agreement

[***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the
Securities and Exchange Commission.

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Silicon Valley Bank
as a Lender

 

By: /s/ Bret Turner

Name: Bret Turner

Title: Managing Director

 

 

 

MAKO SOLAR HOLDINGS, LLC,
a Delaware limited liability company,
as the Member and a Guarantor,

 

By: /s/ Lyndon Rive

Name: Lyndon Rive

Title: President

 

 

 

[***],
a Delaware limited liability company,
as a Borrower Subsidiary Party and a Guarantor,

 

By: /s/ Lyndon Rive

Name: Lyndon Rive

Title: President & CEO

 

 

 

[***],
a Delaware limited liability company,
as a Borrower Subsidiary Party and a Guarantor,

 

By: /s/ Lyndon Rive

Name: Lyndon Rive

Title: President

 

 

 

[***],
a Delaware limited liability company,
as a Borrower Subsidiary Party and a Guarantor,

 

By: /s/ Lyndon Rive

Name: Lyndon Rive

Title: President

 

 

 

Amendment No. 2 to Credit Agreement

[***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the
Securities and Exchange Commission.

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Annex A

SCHEDULE 2.01(c)

Date

Scheduled Principal Payment

Scheduled Bullet Payments

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ANNEX A

[***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the
Securities and Exchange Commission.