[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.
Exhibit 10.3

CONSENT AND SECOND AMENDMENT TO
SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND FOURTH AMENDMENT TO AMENDED AND
RESTATED CASH DIVERSION AND COMMITMENT FEE GUARANTY

This CONSENT AND SECOND AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT
AGREEMENT AND FOURTH AMENDMENT TO AMENDED AND RESTATED CASH DIVERSION AND
COMMITMENT FEE GUARANTY, dated as of August 22, 2018 (this “Amendment”), is
entered into among the undersigned in connection with (a) that certain Second
Amended and Restated Credit Agreement, dated as of March 27, 2018, among Sunrun
Hera Portfolio 2015-A, LLC, a Delaware limited liability company, as Borrower
(the “Borrower”), the financial institutions as Lenders from time to time party
thereto (the “Lenders”), and Investec Bank PLC, as Administrative Agent for the
Lenders (in such capacity, the “Administrative Agent”) and as Issuing Bank (in
such capacity, the “Issuing Bank”) (as in effect prior to the date hereof, the
“Credit Agreement” and as amended by this Amendment, the “Amended Credit
Agreement”) and (b) the Cash Diversion and Commitment Fee Guaranty (as in effect
prior to the date hereof, the “Guaranty” and as amended by this Amendment, the
“Amended Guaranty”). Capitalized terms which are used but not otherwise defined
herein shall have the meanings ascribed to such terms in the Amended Credit
Agreement and the rules of construction set forth in Section 1.02 of the Credit
Agreement apply to this Amendment.
W I T N E S S E T H
WHEREAS, the Borrower wishes to obtain, and the Administrative Agent and the
Required Lenders wish to provide, consent to the acquisition by the Borrower of
Sunrun Sirius Manager 2018, LLC, a Delaware limited liability company and a Tax
Equity Holdco (such acquisition, the “Tax Equity Holdco Acquisition”); and
WHEREAS, the Borrower and the Sponsor also wish to make, and the undersigned
also wish to agree to make, certain additional amendments to the Credit
Agreement and the Guaranty as provided herein.
NOW, THEREFORE, in consideration of the mutual agreements, provisions and
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
I.Amendments to the Credit Agreement. Subject to the satisfaction of the
conditions set forth in Article IV below, the following amendments to the Credit
Agreement are hereby accepted and agreed by the parties hereto:

[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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1.    Amendments to Section 1.01.
(a)    The definition of “Eligible Project” in Section 1.01 of the Credit
Agreement is hereby amended by (i) deleting “and” at the end of clause (ix),
(ii) replacing the period at the end of clause (x) with the text “; and” and
(iii) inserting the following as a new clause (xi):
“(xi) with respect to each Project located in the Commonwealth of Puerto Rico,
the designation of such Project as an Eligible Project does not result in the
Portfolio Value attributable to Projects located in the Commonwealth of Puerto
Rico exceeding [***] percent ([***]%) of the Portfolio Value.”
(b)    The following defined term in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety as follows:
““Project State” shall mean each state of the United States of America,
Washington, D.C. or the Commonwealth of Puerto Rico, to the extent approved
under the applicable Tax Equity Documents.”
(c)    The following are hereby added as new defined terms to Section 1.01 of
the Credit Agreement in the appropriate alphabetical order:
““Sirius 2018 LLC Agreement” shall mean that certain Amended and Restated
Limited Liability Company Agreement of Sunrun Sirius Owner 2018, LLC, dated as
of June 28, 2018, entered into by and between Sunrun Sirius Manager 2018, LLC
and [***].”
““Sirius 2018 Purchase Agreement” shall mean that certain Master Purchase
Agreement, dated as of June 28, 2018, entered into between Sponsor and Sunrun
Sirius Owner 2018, LLC.”
2.    Amendment to Section 6.13(h). The first sentence of Section 6.13(h) of the
Credit Agreement is hereby amended and restated in its entirety as follows:
“On an annual basis, not later than (i) solely with respect to calendar year
2018, October 15, 2018, and (ii) otherwise, forty-five (45) days before renewal
of the Borrower’s property insurance policies, the Borrower shall cause a
nationally recognized insurance or other applicable expert to perform and
deliver, with a copy to the Administrative Agent, a probable maximum loss
analysis (or analyses) with respect to the properties of the Borrower and the
Relevant Parties.”
3.    New Section 7.22. Article VII of the Credit Agreement is hereby amended by
inserting the following as a new Section 7.22:
“The Borrower shall not cause or otherwise permit any [***] Project (as defined
in the Sirius 2018 Purchase Agreement) to be treated as an Eligible Project.”

[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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4.    New Section 7.23. Article VII of the Credit Agreement is hereby amended by
inserting the following as a new Section 7.23:
“The Borrower shall not cause or otherwise permit any New Home Project (as
defined in the Sirius 2018 Purchase Agreement) to be treated as an Eligible
Project unless and until (i) the Customer Agreement for such New Home Project
has been transferred by the home builder the homebuyer, (ii) such Former New
Home Project meets the conditions set forth in the definition of “Eligible
Project” and (iii) there has occurred an inspection of the residential structure
or building associated with such New Home Project conducted by an official of
the applicable Governmental Authority when such structure or building is
completed and ready for occupancy.”
II.    Amendment to the Cash Diversion and Commitment Fee Guaranty. Subject to
the satisfaction of the conditions set forth in Article IV below, the definition
of “Cash Diversion” in Section 1.01 of the Guaranty is hereby amended by
(i) deleting “and” at the end of clause (w), (ii) deleting the period at the end
of clause (x) and (iii) inserting the following as a new clause (y) and (z) :
“(y) if, for any quarterly period preceding a Calculation Date, expenses,
including, without limitation, operations and maintenance expenses and payments
under any production guarantee, incurred in connection with any and all [***]
Projects (as defined in the Sirius 2018 Purchase Agreement) exceed aggregate
revenues from such [***] Projects, in the amount of such excess; and
(z) the failure of Sunrun or the Class B Member (as such are terms defined in
the Sirius 2018 LLC Agreement) to contribute any or all amounts required
pursuant to the proviso in Section 5.06(b) of the Sirius 2018 LLC Agreement.”
III.    Limited Consent. At the request of the Borrower and subject to the
satisfaction of the conditions set forth in Article IV below, the Administrative
Agent and each of the undersigned Lenders hereby consents and agrees to the Tax
Equity Holdco Acquisition, for which consent of the Administrative Agent and the
Required Lenders is required pursuant to Section 2.05(b)(iii) of the Amended
Credit Agreement (the “Consent”). The Consent granted pursuant to this Article
III is limited precisely as written and shall not extend to any other provision
of the Credit Agreement or the Amended Credit Agreement.
IV.    Conditions Precedent to Effectiveness. The amendments contained in
Articles I and II and the Consent contained in Article III shall not be
effective until the date (such date, the “Amendment Effective Date”) that:
1.    the Administrative Agent shall have received copies of this Amendment
executed by the Borrower, the Sponsor and the Lenders, and acknowledged by the
Administrative Agent; and
2.    the Borrower shall have paid all fees, costs and expenses of the
Administrative Agent and the Lenders incurred in connection with the execution
and delivery of this Amendment

[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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(including third-party fees and out-of-pocket expenses of the Lenders’ counsel
and other advisors or consultants retained by the Administrative Agent).
V.    Representations and Warranties. Each of the Borrower and, as applicable,
the Sponsor represents and warrants to each Agent and each Lender Party that the
following statements are true, correct and complete in all respects as of the
Amendment Effective Date:
1.    Power and Authority; Authorization. Each of the Borrower and the Sponsor
has all requisite power and authority to execute, deliver and perform its
obligations under this Amendment and the Borrower has all requisite power and
authority to perform its obligations under the Amended Credit Agreement and the
Sponsor has all requisite power and authority to perform its obligations under
the Amended Guaranty. Each of the Borrower and the Sponsor has duly authorized,
executed and delivered this Amendment.
2.    Enforceability. Each of this Amendment and the Amended Credit Agreement is
a legal, valid and binding obligation of the Borrower, enforceable against the
Borrower in accordance with its terms, except to the extent that enforceability
may be limited by (i) applicable bankruptcy, insolvency, moratorium,
reorganization or other similar laws affecting the enforcement of creditors’
rights, (ii) the effect of general equitable principles (regardless of whether
such enforceability is considered in a proceeding in equity or at law) or
(iii) implied covenants of good faith and fair dealing. Each of this Amendment
and the Amended Guaranty is a legal, valid and binding obligation of the
Sponsor, enforceable against the Sponsor in accordance with its terms, except to
the extent that enforceability may be limited by (i) applicable bankruptcy,
insolvency, moratorium, reorganization or other similar laws affecting the
enforcement of creditors’ rights, (ii) the effect of general equitable
principles (regardless of whether such enforceability is considered in a
proceeding in equity or at law) or (iii) implied covenants of good faith and
fair dealing.
3.    Credit Agreement and Guaranty Representations and Warranties. Each of the
representations and warranties set forth in the Credit Agreement (with respect
to the Borrower) and the Guaranty (with respect to the Sponsor) is true and
correct in all respects both before and after giving effect to this Amendment,
except to the extent that any such representation and warranty relates solely to
any earlier date, in which case such representation and warranty is true and
correct in all respects as of such earlier date.
4.    Defaults. No event has occurred or is continuing as of the date hereof, or
will result from the transactions contemplated hereby as of the date hereof,
that would constitute an Event of Default or a Default.
VI.    Limited Amendment. Except as expressly set forth herein, this Amendment
shall not, by implication or otherwise, limit, impair, constitute a waiver of or
otherwise affect the rights and remedies of the Lenders or the other Secured
Parties under the Credit Agreement or any other Loan Document, and shall not
alter, modify, amend or in any way affect any of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement or any
other provision of the Credit Agreement or any other Loan Document, and each of
the Borrower and the Sponsor acknowledges and agrees that each of the Loan
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

[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

--------------------------------------------------------------------------------

enforceable and shall not be impaired or limited by the execution or
effectiveness of this Amendment. From and after the Amendment Effective Date,
all references to (i) the Credit Agreement in any Loan Document shall, unless
expressly provided otherwise, refer to the Amended Credit Agreement and (ii) the
Guaranty in any Loan Document shall, unless expressly provided otherwise, refer
to the Amended Guaranty.
VII.    Miscellaneous.
1.    Counterparts. This Amendment may be executed in one or more duplicate
counterparts and by facsimile or other electronic delivery and by different
parties on different counterparts, each of which shall constitute an original,
but all of which shall constitute a single document and when signed by all of
the parties listed below shall constitute a single binding document.
2.    Severability. In case any one or more of the provisions contained in this
Amendment should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby, and the parties hereto shall enter into
good faith negotiations to replace the invalid, illegal or unenforceable
provision.
3.    Governing Law, etc.. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
UNDER, THE LAWS OF THE STATE OF NEW YORK. The provisions in Sections 12.08(b)
through (d) and Section 12.09 of the Amended Credit Agreement shall apply,
mutatis mutandis, to this Amendment and the parties hereto.
4.    Loan Document. This Amendment shall be deemed to be a Loan Document for
all purposes of the Amended Credit Agreement and each other Loan Document.
5.    Headings. Paragraph headings have been inserted in this Amendment as a
matter of convenience for reference only and it is agreed that such paragraph
headings are not a part of this Amendment and shall not be used in the
interpretation of any provision of this Amendment.
6.    Execution of Documents. The undersigned Lenders hereby authorize and
instruct the Administrative Agent to execute and deliver this Amendment.

[Signature Pages Follow]

[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their duly authorized officers as of the day and year
first above written.
SUNRUN HERA PORTFOLIO 2015-A, LLC,
as Borrower
By: Sunrun Hera Portfolio 2015-B, LLC
Its: Sole Member
By: Sunrun Hera Holdco 2015, LLC
Its: Sole Member
By: Sunrun Inc.
Its: Sole Member

By:     /s/ Robert Komin, Jr.    
Name: Robert Komin, Jr.
Title: Chief Financial Officer

SUNRUN INC.,
as Guarantor

By:     /s/ Robert Komin, Jr.    
Name: Robert Komin, Jr.
Title: Chief Financial Officer

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

--------------------------------------------------------------------------------

INVESTEC BANK PLC,
as Administrative Agent

By:      /s/ Oliver Fricot    
Name: Oliver Fricot
Title: Authorised Signatory

By:      /s/ James Haggie    
Name: James Haggie
Title: Authorised Signatory

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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INVESTEC BANK PLC,
as Issuing Bank

By:      /s/ Oliver Fricot     
Name: Oliver Fricot
Title: Authorised Signatory

By:      /s/ James Haggie    
Name: James Haggie
Title: Authorised Signatory

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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INVESTEC BANK PLC,
as Lender

By:      /s/ Oliver Fricot     
Name: Oliver Fricot
Title: Authorised Signatory

By:      /s/ James Haggie    
Name: James Haggie
Title: Authorised Signatory

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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KEYBANK NATIONAL ASSOCIATION,
as Lender

By:     /s/ Lisa A. Ryder    
Name: Lisa A. Ryder
Title: Senior Vice President

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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SUNTRUST BANK,
as Lender

By:      /s/ Nina Johnson    
Name: Nina Johnson
Title: Director

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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SILICON VALLEY BANK,
as Lender

By:      /s/ Tai Pimputkar    
Name: Chaitali (“Tai”) Pimputkar
Title: Vice President II

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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DEUTSCHE BANK AG, NEW YORK BRANCH,
as Lender

By:      /s/ Nicole Byrns    
Name: Nicole Byrns
Title: Director

DEUTSCHE BANK AG, NEW YORK BRANCH,
as Lender

By:      /s/ Kyle Hatzes    
Name: Kyle Hatzes
Title: Vice President

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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ING CAPITAL LLC,
as Lender

By:      /s/ Thomas Cantello    
Name: Thomas Cantello
Title: Managing Director

By:      /s/ Stefano Palombo    
Name: Stefano Palmbo
Title: Vice President

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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SUNRUN GAIA PORTFOLIO 2016-A, LLC,
as Lender
By: Sunrun Gaia Holdco 2016, LLC
Its: Sole Member
By: Sunrun Inc.
Its: Sole Member

By:      /s/ Robert Komin, Jr.    
Name: Robert Komin, Jr.
Title: Chief Financial Officer

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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MIGDAL MAKEFET PENSION AND PROVIDENT FUNDS LTD.,
as Lender

By:     /s/ Asaf Shoman and Ruth Levy    
Name: Asaf Shoman and Ruth Levy
Title: CIO and Head of Credit

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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MIGDAL INSURANCE COMPANY LTD,
as Lender

By:      /s/ Asaf Shoham and Ruth Levy    
Name: Asaf Shoham and Ruth Levy
Title: CIO and Head of Credit

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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ABN AMRO CAPITAL USA LLC,
as Lender

By:      /s/ Paul Snow    
Name: Paul Snow
Title: Vice President

By:      /s/ Javier Ramirez    
Name: Javier Ramirez
Title: Director

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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BANKUNITED, N.A.,
as Lender

By:      /s/ Justin Albright    
Name: Justin Albright
Title: Senior Vice President

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.

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EAST WEST BANK,
as Lender

By:      /s/ Christopher Simeone    
Name: Christopher Simeone
Title: First Vice President

[Signature Page to Consent and Second Amendment (2nd A&R AF Credit Agreement)]
[***] = Certain confidential information contained in this document, marked by
brackets, is filed with the Securities and Exchange Commission pursuant to Rule
406 of the Securities Act of 1933, as amended.