Document:

Exhibit

Exhibit 10.12
Executed Version

EXCHANGE AGREEMENT

This letter agreement (“Agreement”) sets forth the terms and conditions upon which Bill Barrett Corporation, a Delaware corporation (the “Company”), will issue the number of shares (the “Shares”) of Company’s Common Stock, par value $0.001 per share (“Common Stock”), indicated on the signature page hereof to each holder indicated on the signature page hereof (each, a “Holder”), in exchange for the aggregate principal amount of the Company’s debt securities, including all related guarantees (the “Exchanged Notes”) identified on the signature page hereof.

The Company intends to commence consent solicitations on or about December 7, 2017 pursuant to which it will solicit consents from each registered holder of the Company’s 7% Senior Notes due 2022 and 8.75% Senior Notes due 2025, to, among other things, amend the defined term “Change of Control” in each of the indentures relating to such notes to provide that the Company’s planned transaction with Fifth Creek Energy, LLC and transactions relating thereto will not constitute a Change of Control thereunder and, to the extent such consent solicitations are successful, to enter into supplemental indentures to give effect to such amendments (the “Supplemental Indentures”). 

SECTION 1. Exchange. On the terms and subject to the conditions of this Agreement and in reliance upon the representations, warranties and agreements contained herein, each Holder agrees to exchange the Exchange Notes with the Company in consideration of and in exchange for the transfer by the Company to such Holder of the Shares. The closing date for the exchange (the “Closing Date”) shall occur two business days following the date on which (x) each of the Supplemental Indentures are executed and effective, (y) each of the conditions to closing set forth in Section 2 below are satisfied, and (z) the New York Stock Exchange has approved the listing of the Shares. Effective as of the Closing Date, each Holder shall deliver the Exchanged Notes on behalf of the Company to Deutsche Bank Trust Company Americas (“Trustee”) by means of the book-entry transfer procedures of The Depositary Trust Company, as depositary for the Notes, or by other due and proper agreements or instruments of transfer reasonably acceptable to the Company and its legal counsel. No adjustment shall be made or Shares issued for interest accrued on any Exchanged Note. Effective as of the Closing Date, the Company shall cause (i) the transfer agent for the Common Stock to issue and deliver the Shares through the facilities of The Depository Trust Company to the account of each Holder set forth on the signature page hereof and (ii) cash representing all accrued but unpaid interest in respect of the Exchanged Notes up to but not including the Closing Date by wire transfer of immediately available funds in accordance with wire instructions delivered in writing to the Company by each Holder prior to the Closing Date.

1

SECTION 2. Conditions to Closing. The obligations of the Company and each Holder hereunder to consummate the transactions contemplated by this Agreement are subject to the satisfaction of each of the following conditions: 

(a)Each of the representations and warranties of the Company and each Holder contained in Section 4 and Sections 3 and 5, respectively, of this Agreement shall be true and correct in all material respects on and as of the Closing Date with the same effect as though such representations and warranties had been made on and as of the Closing Date.

(b)Each of the Company and each Holder shall in all material respects have performed, satisfied and complied with all of its respective covenants, agreements and conditions contained in this Agreement that are required to be performed, satisfied or complied with by it on or before the Closing Date.

SECTION 3. Representations And Warranties Of Holder. Each Holder, severally and not jointly, represents and warrants to the Company, as of the date hereof and as of the date of delivery of the Exchanged Notes that:

(a)Such Holder is duly organized, validly existing and in good standing in its jurisdiction of organization and the execution, delivery and performance by such Holder of this Agreement, and the consummation of the transactions contemplated hereby, are within the powers of such Holder and have been or will have been duly authorized by all necessary action on the part of such Holder, and this Agreement constitutes a valid and binding agreement of such Holder, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement or creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

(b)The execution, delivery and performance by such Holder of this Agreement and the consummation of the transactions contemplated hereby require no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official on the part of Holder.

(c)The execution, delivery and performance by such Holder and the Company of this Agreement, and the consummation of the transactions contemplated by this Agreement, do not and will not (i) violate the certificate of incorporation (or similar constituent document) or bylaws of such Holder, (ii) violate any material agreement to which such Holder is a party or by which such Holder or any of its property or assets is 

2

bound, or (iii) violate any material law, rule, regulation, judgment, injunction, order or decree applicable to such Holder.

(d)Such Holder has good and valid title to the Exchanged Notes and owns and holds the entire legal and beneficial right, title, and interest in and to the Exchanged Notes (including, without limitation, accrued and unpaid interest thereon), free and clear of any liens, claims or encumbrances (other than those arising as a result of this Agreement) and the Exchanged Notes are not subject to any contract, agreement, arrangement, commitment or understanding restricting or otherwise relating to the disposition of the Exchanged Notes; good and valid title to the Exchanged Notes (including, without limitation, accrued and unpaid interest thereon) will pass to the Company upon consummation of the transaction contemplated hereby and all claims of such Holder relating to the Exchanged Notes, including any accrued and unpaid interest thereon, shall be released.

(e)Such Holder has such knowledge, sophistication and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares. Such Holder acknowledges that it understands the risks inherent in an investment in the Shares and that it has the financial ability to bear the economic risk of, and to afford the entire loss of, its investment in the Shares.

(f)Such Holder has made its own independent inquiry as to the legal, tax and accounting aspects of the transactions contemplated by this Agreement, and such Holder has not relied on the Company, the Company's legal counsel or the Company's accounting or financial advisors for legal, tax or accounting advice in connection with the transactions contemplated by this Agreement. Such Holder has had such opportunity as it has deemed adequate to obtain from Company such information as is necessary to permit such Holder to evaluate the merits and risks of the transactions contemplated hereby.

(g)Such Holder acknowledges that (i) it has reviewed Company's filings with the Securities and Exchange Commission (the “SEC”).

(h)Such Holder acknowledges that Company is in possession of nonpublic information (the "Non-Public Information"). The Non-Public Information may (or may not) be considered material by such Holder with respect to the exchange of its Exchanged Notes for the Shares. Such Holder has determined that it is in such Holder's best interests to effectuate and close the exchange of Exchanged Notes for the Shares without the Company's disclosure to such Holder, and without such Holder's knowledge of, the Non-Public Information. Such Holder has actual knowledge that it may presently have and may have at or after the time of the Closing Date, claims against the Company and the Company's directors, officers, employees, agents, attorneys, representatives, affiliates, 

3

predecessors, successors and assigns, arising from the Company's nondisclosure of the Non-Public Information in connection with the transactions contemplated by this Agreement. Such Holder hereby, on its behalf and on behalf of any and all of its directors, officers, employees, agents, attorneys, representatives, limited partners or other investors, affiliates, predecessors, successors and assigns, unconditionally, irrevocably and absolutely releases and discharges the Company and its directors, officers, employees, agents, attorneys, representatives, affiliates, predecessors, successors and assigns from any and all causes of action, claims, demands, damages or liabilities whatsoever, both in law and in equity, in contract, tort or otherwise, which they may now have or may have at or after the Closing Date arising from the Company's nondisclosure of the Non-Public Information in connection with the transactions contemplated by this Agreement, in each case to the maximum extent permitted by law.

(i)Such Holder covenants that neither it nor any person acting on behalf of or pursuant to any understanding with it will engage in any transactions in the securities of the Company (including "short sales," as defined in Rule 200 of Regulation SHO under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) prior to the later of the time that the transactions contemplated by this Agreement are publicly disclosed by the Company and the conclusion of the period over which the number of Shares is to be determined (the “Pricing Period”), and represents that no such person has engaged or will engage in such a short sale of, or stock pledge, forward sale or other transaction or arrangement with an effect similar to such a short sale with respect to, Common Stock from the date the parties commenced the negotiations leading to the execution of this Agreement and end of the Pricing Period. Such Holder has maintained, and covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company such Holder will maintain, the confidentiality of any disclosures made to it in connection with this transaction (including the existence and terms of this transaction).

(j)There is no investment banker, broker, finder or other intermediary which has been retained by, will be retained by or is authorized to act on behalf of such Holder who might be entitled to any fee or commission from the Company or such Holder upon consummation of the transactions contemplated by this Agreement.

SECTION 4. Representations And Warranties Of the Company. The Company 
represents and warrants to each Holder, as of the date hereof and as of the date of delivery of the Shares, that:

(a)The Company is duly organized, validly existing and in good standing in the State of Delaware and the execution, delivery and performance by Company of this Agreement, and the consummation of the transactions contemplated hereby, are within 

4

the corporate powers of the Company and have been or will have been duly authorized by all necessary action on the part of the Company, and this Agreement constitutes a valid and binding agreement of the Company, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement or creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

(b)The execution, delivery and performance by the Company of this Agreement and the consummation of the transactions contemplated hereby require no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official on the part of Company except such consents, approvals, authorizations, filings or registrations (x) as are specifically contemplated by this Agreement or (y) required by applicable law or other regulatory authority.

(c)The execution, delivery and performance by each Holder and the Company of this Agreement, and the consummation of the transactions contemplated by this Agreement, do not and will not violate (i) the certificate of incorporation or bylaws of the Company, (ii) any material agreement to which the Company is a party or by which the Company or any of its property or assets is bound, or (iii) any material law, rule, regulation, judgment, injunction, order or decree applicable to the Company.

(d)The Shares, when issued in exchange for the Exchanged Notes in accordance with this Agreement, will be duly and validly authorized and issued, fully-paid and non-assessable, free and clear of all encumbrances, liens, equities or claims. On or before the date of issuance of the Shares, the Shares shall have been authorized for listing on the New York Stock Exchange. The Shares will be freely tradeable and will be fungible in all respects with the Company’s existing shares of Common Stock and will not contain any restrictive legends.

(e)There is no investment banker, broker, finder or other intermediary which has been retained by, will be retained by or is authorized to act on behalf of the Company who would be entitled to any fee or commission from the Company or each Holder for soliciting the exchange upon consummation of the transactions contemplated by this Agreement.

SECTION 5. Exempt Transaction. 

(a)Each Holder understands that the exchange of the Exchanged Notes for the Shares hereby is intended to be exempt from registration under Section 3(a)(9) of the 

5

Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), which exemption depends upon, among other things, the accuracy of the such Holder’s representations expressed herein, and such Holder is not aware of any reason why such exemption is not available.

(b)Each Holder represents and warrants to the Company that it did not purchase the Exchanged Notes with a view to, or for sale in connection with, any distribution of the Shares issuable upon exchange of the Exchanged Notes. 

(c)Each Holder represents and warrants to Company that (i) to the knowledge of such Holder, no commission or other remuneration has been or will be paid or given, directly or indirectly, for soliciting the transactions contemplated hereby and (ii) the Company did not, and to the knowledge of such Holder, no person acting on behalf of the Company did, solicit such Holder with respect to this disposition of the Exchanged Notes. 

(d)Each Holder represents and warrants to Company that the Exchanged Notes do not constitute “restricted securities” as defined in Rule 144(a)(3) under the Securities Act.

(e)Each Holder understands that the Shares have not been registered under the Securities Act, and are being issued hereunder in reliance upon a specific exemption from the registration provisions of the Securities Act afforded by Section 3(a)(9) of the Securities Act. Under current interpretations of the SEC, securities that are obtained in a Section 3(a)(9) exchange assume the same character (i.e., restricted or unrestricted) as the securities that have been surrendered. To the extent that the Exchanged Notes are unrestricted securities, the Shares will be unrestricted securities. 

(f)Each Holder represents and warrants to the Company that such Holder is not, as of the date hereof, and was not at any time during the three-month period preceding the date hereof, a director or executive officer of the Company or a subsidiary of the Company, a beneficial owner of 5% or more of the Common Stock, a holder of 5% or more of the voting power outstanding of the Company, or an affiliate of such director, executive officer, beneficial owner or holder, and such Holder did not otherwise have a relationship relating to the Company described in Rule 312.03(b) of the New York Stock Exchange Listed Company Manual.

SECTION 6. Notices. All notices, requests and other communications to any party hereunder shall be in writing (including electronic mail) and shall be given, 

if to a Holder, as indicated on the signature page hereto,

6

if to Company to:

Bill Barrett Corporation
1099 18th Street, Suite 2300
Denver, Colorado 80202
Attention:
William M. Crawford (bcrawford@billbarrettcorp.com)
Kenneth A. Wonstolen (kwonstolen@billbarrettcorp.com)

with a copy to:

Davis Graham & Stubbs LLP
1550 17th Street, Suite 500
Denver, Colorado 80202
Attention:
John Elofson (john.elofson@dgslaw.com)

or to such other address and with such other copies as such party may hereafter specify for the purpose of notice. All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5 p.m. in the place of receipt and such day is a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding business day in the place of receipt.

SECTION 7. Confidentiality. Each of the Company and each Holder represents that it has not disclosed any information regarding discussions relating to this Agreement except to persons who have a need to know such information and are subject to requirements not to disclose any such information. Except as may be required by applicable law or regulatory requirement, no Holder shall disclose the existence or terms of this Agreement or any of the provisions contained herein without the prior written consent of the Company until the earlier of (x) the Closing Date, (y) five business days after the date of this Agreement or (z) public disclosure by the Company. Company shall provide each Holder a draft of any Form 8-K pursuant to which a copy of this Agreement will be attached as an exhibit in advance of such filing to give each Holder a reasonable amount of time to review and comment on the Form 8-K and shall consider any such comments in good faith.

SECTION 8. Amendments and Waivers. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by 

7

any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

SECTION 9. Expenses. All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense.

SECTION 10. Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that no party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of each other party hereto.

SECTION 11. Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of New York. 

SECTION 12. Jurisdiction; WAIVER OF JURY TRIAL. Each of the parties hereto (a) consents to submit itself to the personal jurisdiction of any federal or state court located in the Borough of Manhattan in The City of New York, New York in the event any dispute arises out of this Agreement, (b) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (c) agrees that it will not bring any action relating to this Agreement in any court other than a Federal or state court located in the Borough of Manhattan in The City of New York, New York. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

SECTION 13. Counterparts; Third Party Beneficiaries. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed by the other party hereto. No provision of this Agreement shall confer upon any person other than the parties hereto any rights or remedies hereunder.

SECTION 14. Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.

8

SECTION 15. Captions. The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.

SECTION 16. Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of this Agreement shall be interpreted as if such provision were so excluded and shall be enforced in accordance with its terms to the maximum extent permitted by law.

[Signature Page Follows]

9

If the foregoing is acceptable to you, please acknowledge your agreement by signing below in the space provided for your signature and returning an original copy hereof.

	
			
	DATE:
	December 4, 2017

	 
	 
	 

	BILL BARRETT CORPORATION

	 
	 
	 

	 
	 
	 

	By:
	 
	 

	 
	Name:
	William M. Crawford

	 
	Title:
	Senior Vice President—Treasury
and Finance

THE FOREGOING IS AGREED TO AN ACKNOWLEDGED BY:

	
			
	Franklin Custodian Funds - Franklin Income Fund

	 
	 
	 

	By: Franklin Advisers, Inc., as investment adviser

	 
	 
	 

	 
	 
	 

	 
	 
	 

	Name:
	Edward Perks
	 

	Title:
	E.V.P., Portfolio Manager
	 

Address for Notices to Holder pursuant Section 6:
One Franklin Parkway
San Mateo, CA 94403
Attention: Ed Perks - ed.perks@franklintempleton.com and Christopher Chen - chris.chen@franklintempleton.com

Title of debt securities ("Exchange Notes"):
CUSIP: 06846NAD6

Holder: Franklin Custodian Funds - Franklin Income Fund

Principal amount of Exchange Notes: $50,000,000.00

Number of shares of Common Stock to be issued in exchange: An amount equal to the Principal amount of Exchange Notes multiplied by 1.02 divided by the VWAP (as reported on Bloomberg) of BBG on December 6, 2017. Accrued but unpaid interest up to but not including the Closing Date, assuming a Closing Date of December 15, 2017.

10EXHIBIT 10.1 

 

 

 

  

PURCHASE
and Sale AGREEMENT 

 

 

by and between

 

PATTERN ENERGY
GROUP INC.,

Purchaser

 

and

 

PATTERN ENERGY
GROUP LP,

Seller

 

 

Dated as
of

 

February
26, 2018

 

 

 

Interests

 

in

 

green
power tsugaru GK

 

 

 

    

    

    

 

list
of APPENDICES

 

	Appendix A-1	General Definitions
	 	 
	Appendix A-2	Rules of Construction
	 	 
	Appendix B	Transaction Terms and Conditions
	 	 
	Appendix C	Acquired Interests; Ownership Structure; and Project Information
	 	 
	Appendix D	Documents and Key Counterparties
	 	 
	Appendix E	Affiliate Transactions

 

    

    

    

 

PURCHASE
and Sale AGREEMENT

 

THIS
PURCHASE and Sale AGREEMENT (this “Agreement”), dated
as of February 26, 2018, is made by and between Pattern Energy Group Inc., a Delaware
corporation (“Purchaser”), and Pattern Energy Group LP, a Delaware limited partnership (the “Seller”).
Capitalized terms used in this Agreement shall have the respective meanings specified in Appendix A-1 attached hereto.

 

RECITALS

 

WHEREAS,
Seller owns, indirectly through Pattern Development Japan Holdings LLC, a Delaware limited liability company (the “Subsidiary
Transferor”), among other things, 100% of the membership interests in Tsugaru Holdings LLC, a Delaware limited liability
company ( “HoldCo”, as described on Part I of Appendix C attached hereto) which owns 95%
of the membership interests in Green Power Tsugaru GK, a Japanese godo kaisha, (“Project Company”,
as described on Part I of Appendix C), which owns and operates the wind project (the “Project”,
as described on Part II of Appendix C);

 

WHEREAS,
pursuant to that certain Purchase and Sale Agreement by and between Purchaser and Green Power Investment Corporation, a Japanese
corporation (“GPI”), dated as of the date hereof (the “GPI PSA”), Purchaser
agreed to acquire, indirectly through Pattern US Finance Company LLC, a Delaware limited liability company, 100% of the equity
interests in Green Power Tsugaru Holdings GK, a Japanese godo kaisha;

 

WHEREAS,
immediately following consummation of the transactions set forth in the GPI PSA, Purchaser desires to cause Green Power Tsugaru
Holdings GK, a Japanese godo kaisha (the “Subsidiary Purchaser”), to purchase, and Seller desires
to cause the Subsidiary Transferor to sell to the Subsidiary Purchaser, the Acquired Interests defined and described in Part
I of Appendix C attached hereto (the “Acquired Interests”).

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual terms, conditions and agreements set forth herein, and for
other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound, the parties hereby agree as follows:

 

ARTICLE
1

PURCHASE AND SALE OF THE ACQUIRED INTERESTS

 

1.1  Agreement
to Sell and Purchase. Subject to the satisfaction or waiver (by the party for whose benefit such condition exists) of the conditions
set forth in Article ‎5 and the other terms and conditions of this Agreement, at the Closing (a) Seller shall sell,
assign, transfer and convey (or, if applicable, cause the applicable Subsidiary Transferor to sell, assign, transfer and convey)
the Acquired Interests to Purchaser (or, if applicable, the Subsidiary Purchaser), and (b) the Purchaser shall (or shall cause
the applicable Subsidiary Purchaser to) purchase the Acquired Interests from Seller (or, if applicable, the Subsidiary Transferor),
for the Purchase Price set forth in Part I of Appendix B (subject to the adjustments set forth therein) (the “Purchase
Price”).

 

    

    

    

 

1.2  Signing
Date Deliverables. On or prior to the date of this Agreement, Seller has delivered or is delivering to Purchaser the Financial
Model for the Project Company as of the date hereof. On the date of this Agreement each of Seller and Purchaser shall deliver
to the other party the deliverables set forth in Part II of Appendix B.

 

1.3  Purchase
Price. The purchase price payable by the Purchaser (or, if applicable, the Subsidiary Purchaser) to Seller (or, if applicable,
the Subsidiary Transferor) for the Acquired Interests at Closing shall be the Initial Purchase Price. The Initial Purchase Price
shall be subject to adjustment by the Purchase Price Adjustment (if any) and/or the Post-Closing Adjustment (if any) and/or the
Deferred Purchase Price (if any), each as set forth in Part I of Appendix B. All payments of the Initial Purchase
Price, any Purchase Price Adjustment and any Post-Closing Adjustment with respect thereto and any Deferred Purchase Price shall
be paid by wire transfer of same day funds in the applicable Currency to the applicable accounts set forth in Part I of
Appendix B.

 

1.4  The
Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) will take
place on the date and at the location specified in Part III of Appendix B or such other time and place as the parties
hereto shall mutually agree (including Closing by facsimile or “PDF” electronic mail transmission exchange of executed
documents or signature pages followed by the exchange of originals as soon thereafter as practicable), and will be effective as
of 12:01 a.m. Eastern Time on the day the Closing occurs.

 

1.5  Conduct
of Closing.

 

(a)  At
or prior to the Closing, Seller shall deliver, or cause to be delivered, to the Purchaser:

 

		(i)	the
                                         original certificates representing the Acquired Interests duly endorsed for transfer
                                         by Seller (or, if applicable, the Subsidiary Transferor) to the Purchaser (or, if applicable,
                                         the Subsidiary Purchaser) or with appropriate powers with respect thereto duly endorsed
                                         by Seller (or, if applicable, such Subsidiary Transferor); provided, that if the Acquired
                                         Interests are not in certificated form, Seller shall deliver to the Purchaser a duly
                                         executed assignment agreement or other instrument conveying such Acquired Interests to
                                         the Purchaser in form and substance reasonably acceptable to the Purchaser;

 

		(ii)	any
                                         other documents and certificates contemplated by Article ‎4 and Article
                                         ‎5 hereof to be delivered by or on behalf of Seller, including the certificate
                                         referred to in Section ‎5.2(d);

 

		(iii)	not
                                         less than five (5) Business Days prior to its delivery of a Closing Notice, Seller shall
                                         deliver to the Purchaser (A) an updated Financial Model for the Project, which shall
                                         be revised pursuant to Part I of Appendix B and which shall be used to
                                         determine the Purchase Price Adjustment applicable to the Initial Payment; and

 

    2 

    

    

 

(B)
a detailed calculation of the proposed Purchase Price Adjustment applicable to the Initial Payment. The Purchaser shall have a
period of two (2) Business Days to review and confirm the updates to the Financial Model and the calculation of the Purchase Price
Adjustment applicable to the Initial Payment. If the Purchaser disapproves of such updates to the Financial Model and/or the calculation
of the Purchase Price Adjustment applicable to the Initial Payment, the parties shall have a further period of two (2) Business
Days to negotiate same. In the event that the parties cannot agree on such updates to the Financial Model and/or calculation of
the Purchase Price Adjustment applicable to the Initial Payment (acting reasonably) following such two (2) Business Day period,
(x) the parties shall resolve any dispute in accordance with the procedures set forth in Section ‎7.4 (which,
for the avoidance of doubt, shall not delay the Closing Date) and (y) the amount in dispute shall be retained by the Purchaser
until the dispute is resolved as aforesaid. Subject to the foregoing, Seller shall deliver to Purchaser a signed direction containing
the final determination of the Initial Purchase Price (less any disputed amount) for the Purchaser not less than two (2) Business
Days prior to the Closing Date; and

 

		(iv)	any
                                         other Closing deliverables set forth in Appendix B-1.

 

(b)  At
or prior to the Closing, the Purchaser shall deliver to Seller:

 

		(i)	the
                                         documents and certificates contemplated by Article ‎4 and Article ‎5
                                         hereof to be delivered by or on behalf of the Purchaser, including the certificate
                                         referred to in Section ‎5.3(d); and

 

		(ii)	any
                                         other Closing deliverables set forth in Appendix B-2.

 

1.6  Withholding.
Notwithstanding any provision contained herein to the contrary, Purchaser shall be entitled to deduct and withhold from the Purchase
Price or any payment otherwise payable to any Person pursuant to this Agreement such amounts as it is required to deduct and withhold
under any provision of applicable Laws. If Purchaser so withholds, the amounts withheld shall be treated for all purposes of this
Agreement as having been paid to the Person in respect of whom Purchaser made such deduction or withholding.

 

ARTICLE
2

REPRESENTATIONS AND WARRANTIES OF SELLER

 

Except
as set forth in, or qualified by any matter set forth in, the Schedules attached hereto, Seller hereby represents and warrants
to Purchaser as set forth in this Article ‎2 as of (a) the date hereof and (b) if the Closing Date is not the
date of this Agreement, the Closing Date, in each case, unless otherwise specified in the representations and warranties below,
in which case the representation and warranty is made as of such date. Whether or not a particular

 

    3 

    

    

 

Section
of this Article ‎2 refers to a specific, numbered Schedule, such Section shall, to the extent applicable, be subject
to the exceptions, qualifications, and other matters set forth in the Schedules to the extent that the relevance of such exceptions,
qualifications or other matters is reasonably apparent on the face thereof.

 

2.1  Organization
and Status. Each of Seller and each Subsidiary Transferor (a) is duly formed, validly existing and in good standing under
the laws of the jurisdiction of its formation as set forth in the preamble to this Agreement or Part I of Appendix C,
as applicable, (b) is duly qualified, authorized to do business and in good standing (or the equivalent under Japan law)
in each other jurisdiction where the character of its properties or the nature of its activities makes such qualification necessary,
and (c) has all requisite power and authority to own or hold under lease the property it purports to own or hold under lease
and to carry on its business as now being conducted. Seller has made available to Purchaser complete and correct copies of the
Organization Documents for Seller, each Subsidiary Transferor, HoldCo and each of its Subsidiaries. Part I of Appendix
C sets forth a list of each Subsidiary of HoldCo and for each Subsidiary: (a) its name, (b) the number and type (as applicable)
of its outstanding equity interests and a list of the holders thereof and (c) its jurisdiction of organization. Holdco and each
Subsidiary of HoldCo is a legal entity duly formed, validly existing and in good standing (or the equivalent under Japan law)
under the Laws of the jurisdiction of its formation and has all requisite organizational power and authority to own, lease and
operate its properties and to carry on its business as it is now being conducted, and is duly qualified, registered or licensed
to do business as a foreign entity and is in good standing (or the equivalent under Japan law) in each jurisdiction in which the
property owned, leased or operated by such Person or the nature of the business conducted by such Person makes such qualification
necessary, except where the failure to be so duly qualified, registered or licensed and in good standing (or the equivalent under
Japan law) would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

2.2  Power;
Authority; Enforceability. Each of Seller and each Subsidiary Transferor has the legal capacity and power to enter into, deliver
and perform its obligations under this Agreement and has been duly authorized, in accordance with its Organization Documents,
to enter into, deliver and perform its obligations under this Agreement. This Agreement has been duly executed and delivered by
Seller and constitutes the legal valid and binding obligation of Seller, enforceable against it in accordance with its terms,
except as may be limited by applicable bankruptcy, insolvency, moratorium, reorganization and similar laws affecting the enforcement
of creditors’ rights generally and subject to general principles of equity regardless of whether enforceability is considered
in a proceeding in equity or at law.

 

2.3  No
Violation. The execution, delivery and performance by Seller of its obligations under this Agreement, and the performance
by each Subsidiary Transferor of this Agreement, in each case including without limitation the sale of the Acquired Interests
to the Purchaser, do not, and will not, (a) violate any Governmental Rule to which Seller, any Subsidiary Transferor, HoldCo
or any of its Subsidiaries is subject or the Organization Documents of Seller, any Subsidiary Transferor, HoldCo or any of its
Subsidiaries, (b) result in the creation or imposition of any Lien (other than a Permitted Lien) upon the Acquired Interests,
HoldCo or any of its Subsidiaries, (c) conflict with, result in a breach of, constitute a default under, result in the acceleration
of, create in any party the right to accelerate, terminate, modify

 

    4 

    

    

 

or
cancel or require any notice under any agreement, contract, lease, license, instrument or other arrangement to which Seller, any
Subsidiary Transferor, HoldCo or any of its Subsidiaries is a party or by which any such Person is bound, (d) other than
as set forth in Part VII of Appendix B, conflict with, result in a breach of, constitute a default under, result
in the acceleration of, or create in any party the right to accelerate, terminate, modify or cancel or require any Consent under
any Material Contract or (e) other than as set forth in Part VII of Appendix B, require any notice under any Material
Contract, except in the case of this clause (e), as would not reasonably be expected to be material in the context of the Project
or otherwise prevent or materially impair or materially delay the consummation of the transactions contemplated by this Agreement.

 

2.4  No
Litigation.

 

(a)  None
of Seller, the Subsidiary Transferor or any of its Subsidiaries is a party to or has received written notice of any pending or,
to the Knowledge of Seller, threatened litigation, action, suit, proceeding or governmental investigation against Seller, the
Subsidiary Transferor or any of its Subsidiaries which would reasonably be expected to be material to the ownership of the Acquired
Interests or which seeks the issuance of an order restraining, enjoining, altering or materially delaying the consummation of
the transactions contemplated by this Agreement.

 

(b)  None
of HoldCo or any of its Subsidiaries is a party to or has received written notice of any pending or, to the Knowledge of Seller,
threatened litigation, action, suit, proceeding or governmental investigation which would reasonably be expected to be material
to HoldCo or any of its Subsidiaries or the Project or which seeks the issuance of an order restraining, enjoining, altering or
materially delaying the consummation of the transactions contemplated by this Agreement.

 

(c)  There
are no material disputes with any counterparty to a Material Contract, nor has HoldCo or any of its Subsidiaries made any material
warranty claim under any Material Contract.

 

2.5  Consents
and Approvals. Except as set forth on Part VII of Appendix B, no Consent of any Governmental Authority is required
by or with respect to Seller, the Subsidiary Transferor, HoldCo or any of its Subsidiaries in connection with the execution and
delivery of this Agreement by Seller, or the consummation by Seller or any Subsidiary Transferor of the transaction contemplated
hereby, except for any Consents which if not obtained or made prior to the Closing would not reasonably be expected to prevent
or impair or delay the consummation of the transactions contemplated by this Agreement and which can be reasonably expected to
be obtained or made in the ordinary course after the Closing.

 

2.6  Acquired
Interests. Seller owns indirectly through the Subsidiary Transferor, of record and beneficially one hundred percent (100%)
of the equity interests of HoldCo. As of immediately prior to the Closing, HoldCo will own, of record and beneficially, the Acquired
Interests in the Project Company specified in Part I of Appendix C. Part I of Appendix C sets forth
the equity capitalization (or proposed equity capitalization) of HoldCo and each of its Subsidiaries. All of the interests described
in Part I of Appendix C have been duly authorized, validly issued and are fully-paid and non-assessable and, except
as set forth on Part I of

 

    5 

    

    

 

Appendix
C, there are no outstanding (i) equity interests or voting securities of HoldCo or any of its Subsidiaries, (ii) securities
of HoldCo or any of its Subsidiaries convertible into or exchangeable for any equity interests or voting securities of HoldCo
or any of its Subsidiaries or (iii) options or other rights to acquire from HoldCo or any of its Subsidiaries, or other obligation
of HoldCo or any of its Subsidiaries to issue, any equity interests or voting securities or securities convertible into or exchangeable
for equity interests or voting securities of HoldCo or any of its Subsidiaries, or any obligations of HoldCo or any of its Subsidiaries
to repurchase, redeem or otherwise acquire any of the foregoing. The Seller (or, if applicable, each Subsidiary Transferor) has
good and valid title to, and has, or will have, full power and authority to convey, the Acquired Interests, as of the Closing
Date. The Acquired Interests have been, or will be, validly issued, and are, or will be, fully paid and non-assessable. No Person
other than Purchaser has any written or oral agreement or option or any right or privilege, whether by law, pre-emptive or contractual,
capable of becoming an agreement or option for the purchase or acquisition from Seller or any Subsidiary Transferor of any of
the Acquired Interests. On the Closing Date, Seller (or, if applicable, the Subsidiary Transferor) will convey to Purchaser good
and valid title to the Acquired Interests free and clear of all Liens other than any obligations imposed under the Organization
Documents of HoldCo or its Subsidiaries or restrictions arising under applicable securities laws.

 

2.7  Solvency.
There are no bankruptcy, reorganization or arrangement proceedings pending against, being contemplated by or, to the Knowledge
of Seller, threatened against, Seller or any Subsidiary Transferor, HoldCo or any of its Subsidiaries. None of Seller, any Subsidiary
Transferor, HoldCo or any of its Subsidiaries (a) has had a receiver, receiver and manager, liquidator, sequestrator, trustee
or other officer with similar powers appointed over all or part of its business or its assets, and to the Knowledge of Seller,
no application therefor is pending or threatened, (b) is insolvent or presumed to be insolvent under any law or is unable
to pay its debts as and when they fall due, (c) has made a general assignment for the benefit of its creditors, or (d) has
taken any action to approve any of the foregoing.

 

2.8  Compliance
with Law.

 

(a)  There
has been no actual violation by Seller or any Subsidiary Transferor of, or failure by Seller or any Subsidiary Transferor to comply
with, any Governmental Rule that is applicable to it, or allegation by any Governmental Authority of such a violation, that would
reasonably be expected to prevent or materially impair or delay the consummation of the transactions contemplated by this Agreement.

 

(b)  To
the Knowledge of Seller, there has been no actual violation by HoldCo or any of its Subsidiaries of or failure by HoldCo or any
of its Subsidiaries to comply with any Governmental Rule that is applicable to it, or allegation by any Governmental Authority
of such a violation, that would reasonably be expected to be material and relates to the Project or would otherwise reasonably
be expected to prevent or materially impair or delay the consummation of the transactions contemplated by this Agreement.

 

2.9  Taxes.

 

    6 

    

    

 

(a)  HoldCo
has been, at all times since its formation, a partnership or a disregarded entity for U.S. federal income tax purposes. The Project
Company has been, at all times since August 1, 2014, a partnership or a disregarded entity for U.S. federal income tax purposes.

 

(b)  The
Project Company has been, at all times since its formation, taxable as a corporation for Japanese tax purposes.

 

(c)  With
respect to HoldCo and its Subsidiaries, no jurisdiction or authority in or with which such entity does not file Tax Returns has
alleged that it is required to file Tax Returns, and there is no claim, audit, action, suit, proceeding or investigation now pending
or threatened against or with respect to any such entity.

 

(d)  Each
of HoldCo and its Subsidiaries has timely filed all Tax Returns that it is required to file, has timely paid or has caused to
be timely paid all Taxes it is required to pay to the extent due (other than those Taxes that it is contesting in good faith and
by appropriate proceedings, with adequate and segregated reserves established for such Taxes) and, to the extent such Taxes are
not due, has established or caused to be established reserves that are adequate for the payment thereof as required by GAAP.

 

(e)   None
of HoldCo and its Subsidiaries has been a member of an affiliated, consolidated, combined or unitary group for any Tax purposes
other than one of which HoldCo or its Subsidiaries was the common parent, or made any election or participated in any arrangement
whereby any Tax liability or any Tax asset of HoldCo or its Subsidiaries was determined or taken into account for Tax purposes
with reference to or in conjunction with any Tax liability or any Tax asset of any other Person.

 

(f)  Each
of HoldCo and its Subsidiaries has withheld from each payment made to any Person, all amounts required by applicable Laws to be
withheld, and has remitted such withheld amounts within the prescribed periods to the appropriate Governmental Authorities.

 

(g)  Each
of HoldCo and its Subsidiaries has charged, collected and remitted on a timely basis all Taxes as required under applicable Laws
on any sale, supply or delivery whatsoever, made by it.

 

(h)  Each
of HoldCo and its Subsidiaries has maintained and continues to maintain at its place of business all records and books of account
required to be maintained under applicable Laws, including Laws relating to sales and use Taxes.

 

(i)  With
respect to each of HoldCo and its Subsidiaries, (i) no reassessments of the Taxes of it have been issued and are outstanding,
(ii) none of Seller, the Subsidiary Transferor or HoldCo has received any indication from any Governmental Authority that an assessment
or reassessment of it is proposed in respect of any Taxes, regardless of its merits, and (iii) it has not executed or filed with
any Governmental Authority any agreement or waiver extending the period for assessment, reassessment or collection of any Taxes.

 

    7 

    

    

 

(j)  None
of HoldCo or any of its Subsidiaries will be required to include for any Post-Closing Tax Period (i) any adjustment in taxable
income pursuant to Section 481 of the Code (or any corresponding or similar provision of state, local or non-U.S. Tax Laws) or
(ii) taxable income attributable to any prepaid amount received on or prior to the Closing Date or income economically realized
in any Pre-Closing Tax Period, including any distributions in a Pre-Closing Tax Period from an entity that is fiscally transparent
for Tax purposes and any income that would be includible in a Post-Closing Tax Period as a result of the installment method.

 

(k)  HoldCo
has not participated in a “reportable transaction” within the meaning of United States Treasury Regulations Section
1.6011-4.

 

2.10  Unregistered
Securities. It is not necessary in connection with the sale of the Acquired Interests, under the circumstances contemplated
by this Agreement, to register such Acquired Interests under the Securities Act of 1933 (the “Securities Act”),
or under any other applicable securities laws.

 

2.11  Broker’s
Fees. None of Seller, any Subsidiary Transferor, HoldCo or any of its Subsidiaries has any liability or obligation for any
fees or commissions to any broker, finder or agent with respect to the transactions contemplated by this Agreement.

 

2.12  Material
Contracts. Parts I, III, IV and V of Appendix D set forth, collectively, a list of all
Material Contracts. At or prior to the date hereof (or, in the case of Material Contracts included in any Updated Disclosure Schedules,
at or prior to the date such Updated Disclosure Schedules are delivered) Seller has provided Purchaser with, or access to, copies
of all Material Contracts. To the extent any obligations of or for the benefit of HoldCo or any of its Subsidiaries are outstanding
under such Material Contracts as of the Closing Date, each Material Contract is in full force and effect and constitutes the legal,
valid, binding and enforceable obligation of HoldCo or its Subsidiaries, as applicable, and, to the Knowledge of Seller, each
other party thereto, in accordance with its terms, except as such terms may be limited by (i) applicable bankruptcy, insolvency,
moratorium, reorganization or similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles
of equity, whether considered in a proceeding in equity or at law. None of HoldCo nor any of its Subsidiaries, or to the Knowledge
of Seller, any other party thereto (i) is in breach of or default in any material respect under a Material Contract and, to the
Knowledge of Seller, no event has occurred and continuing which, with notice or the lapse of time or both, would constitute a
material breach of or default under a Material Contract or would give rise to any right of termination, cancellation, acceleration,
amendment, suspension or revocation of a Material Contract, or (ii) has received any written notice of termination or suspension
of any Material Contract, and to the Knowledge of Seller, no action is being taken by any Person to terminate or suspend any Material
Contract.

 

2.13  Real
Property.

 

(a)  Except
as set forth in Part V of Appendix D, none of HoldCo or any of its Subsidiaries owns any real property. To the Knowledge
of Seller, no Governmental Authority has commenced the exercise of any eminent domain or similar power with respect to any Project
Company Real Property owned by HoldCo or any of its Subsidiaries, and there are no pending

 

    8 

    

    

 

or,
to the Knowledge of Seller, threatened condemnation or eminent domain proceedings that affect any such Project Company Real Property.

 

(b)   HoldCo
and/or its Subsidiaries has good and valid title to or, subject to the terms and conditions of the Material Leases, the right
to use all Project Company Real Property, free and clear of all Liens other than Permitted Liens. With respect to the Project
Company Real Property it leases or on which it was granted servitudes or superficies pursuant to the Material Leases, HoldCo or
its Subsidiaries, as applicable, have peaceful and undisturbed nonexclusive possession under all Material Leases, servitudes or
superficies under which they are leasing or occupying property in accordance with the terms and conditions of the relevant Material
Leases, servitude or superficies and subject to the Permitted Liens. All rents and other payments under the Material Leases have
been paid in full to the extent due.

 

(c)  Except
as set forth in Schedule 2.13, the Project Company Real Property is sufficient to provide HoldCo and its Subsidiaries with continuous,
uninterrupted and, together with public roads, contiguous access to the Project sufficient for the operation and maintenance of
the Project as currently conducted. All utility services necessary for the construction and operation of the Project for its intended
purposes are available or are reasonably expected to be so available as and when required upon commercially reasonable terms.

 

2.14  Permits.
Appendix C-1 sets forth a list of all material Permits acquired or held by HoldCo or its Subsidiaries in connection with
the operation of the Project.  HoldCo or its Subsidiaries (i) holds in full force and effect all Permits required for the
construction, operation, ownership and maintenance of the Project or, (ii) in the case of such Permits that are not, as of the
date hereof or as of the Closing Date, required for the then-present stage of development of the Project, reasonably expects such
Permits to be obtained in due course on commercially reasonable terms and conditions when needed, in each case, other than those
Permits required in connection with certain construction and maintenance activities which are ministerial in nature and can reasonably
be expected to be obtained in due course on commercially reasonable terms and conditions as and when needed.  Neither HoldCo
nor any of its Subsidiaries is in material default or material violation, and, to the Knowledge of Seller, no event has occurred
and continuing which, with notice or the lapse of time or both, would constitute a material default or material violation of,
or would give rise to any right of termination, cancellation, acceleration, amendment, suspension or revocation under, any of
the terms, conditions or provisions of any Permits held by HoldCo or its Subsidiaries.  There are no legal proceedings pending
or, to the Knowledge of Seller, threatened in writing, relating to the suspension, revocation or modification of any Permits held
by HoldCo or any of its Subsidiaries.

 

2.15  Environmental
Matters. Except as set forth in Part II of Appendix D, (i) HoldCo and its Subsidiaries, the Project Company
Real Property and the Project are in material compliance with all Environmental Laws, (ii) neither HoldCo nor any of its
Subsidiaries has caused or contributed to the release of any Hazardous Substances in any material respect, and (iii) neither Seller
nor HoldCo has received written notice from any Governmental Authority of any material Environmental Claim, or any written notice
of any investigation, or any written request for information, in each case, under any Environmental Law. None of Seller, each
Subsidiary Transferor, HoldCo or any of its Subsidiaries has given any release or waiver of liability that would waive or impair
any material claim based on the presence of Hazardous

 

    9 

    

    

 

Substances
in, on or under any real property, against a previous owner of any real property or against any Person who may be potentially
responsible for the presence of Hazardous Substances in, on or under any such real property.

 

2.16  Insurance.
The Insurance Consultant’s Report defined and described on Part II of Appendix D sets forth a list of all
material insurance maintained by or on behalf of HoldCo or any of its Subsidiaries (the “Insurance Policies”).
All Insurance Policies are now in full force and effect. All premiums with respect to the Insurance Policies covering all periods
to and including the date hereof have been paid and, with respect to premiums due and payable prior to Closing, will be so paid.
None of these Insurance Policies have lapsed and, to the Knowledge of Seller, there are no circumstances that have rendered such
insurance unenforceable, void or voidable. None of Seller, any Subsidiary Transferor, HoldCo or any of its Subsidiaries has received
any written notice in the past 12 months from the insurer under any Insurance Policies disclaiming coverage, reserving rights
with respect to a particular claim or such Insurance Policy in general or canceling or materially amending any such Insurance
Policy. Each of HoldCo and each of its Subsidiaries’ assets and properties are insured in amounts no less than as required
by applicable Law, applicable Permits or any Material Contract to which HoldCo or such Subsidiary is a party or by which its assets
or properties are bound.

 

2.17  Financial
Model. The Financial Model has been prepared in good faith based on reasonable assumptions as to the estimates set forth therein
and is consistent in all material respects with the provisions of the Material Contracts.

 

2.18  Financial
Statements; No Undisclosed Liabilities; No Material Adverse Effect. The Financial Statements have been prepared in accordance
with GAAP applied on a consistent basis with prior periods, are correct and complete in all material respects and present fairly
in accordance with GAAP the assets, liabilities, financial condition and results of operations of HoldCo as at their respective
dates for the periods covered by the respective Financial Statements. None of HoldCo or any of its Subsidiaries has Indebtedness
other than (i) as disclosed in the Financial Statements or pursuant to the Material Contracts, (ii) incurred since the date of
the Financial Statements and disclosed on Appendix D, (iii) incurred after the date hereof in accordance with this Agreement,
including Section ‎4.1(a), and (iv) interest and fees accrued on any Indebtedness referred to in clause (i) after the
date of the Financial Statements. Except as set forth in the Financial Statements, neither HoldCo nor any of its Subsidiaries
has any liabilities that would be required to be disclosed on a balance sheet prepared in accordance with GAAP, other than any
liabilities incurred in the ordinary course of business since the date of the most recent balance sheet included in the Financial
Statements and any liabilities contained in the Material Contracts, other than liabilities thereunder arising from contractual
breach. Since the date of the most recent balance sheet included in the Financial Statements, no Material Adverse Effect has occurred.

 

2.19  Personal
Property. HoldCo or the Project Company has good and valid title to (or a valid leasehold interest in) the Personal Property
currently owned or used by HoldCo or the Project Company in the operation of the Project (other than Personal Property that individually
and in the aggregate are immaterial to such operations), and such title or leasehold interests are free and clear of Liens other
than Permitted Liens. All Personal Property that is material to the

 

    10 

    

    

 

operation
of the Project is in good operating condition and repair, subject to normal wear and maintenance, and is usable in the ordinary
course of business.

 

2.20  Employees.
None of HoldCo or any of its Subsidiaries has, or has ever had, any employees.

 

2.21  Employee
Benefits. None of HoldCo or any of its Subsidiaries has, or has ever had, any employee benefit plan (as such term is defined
in Section 3(3) of ERISA and/or under similar provisions of Japanese laws).

 

2.22  Labor
Matters. None of HoldCo or any of its Subsidiaries is a party to any collective bargaining agreement with a labor union or
organization or any other Contract with any labor union or other employee representative of a group of employees.

 

2.23  Intellectual
Property. HoldCo or its Subsidiaries own, license or can acquire on reasonable terms the Intellectual Property necessary to
operate the Project. To the Knowledge of Seller, no Intellectual Property required to operate the Project infringes upon or otherwise
violates any intellectual property rights of any third party. There are no unresolved pending or, to the Knowledge of Seller,
threatened actions or claims that allege that HoldCo or any of its Subsidiaries has infringed or otherwise violated any material
intellectual property rights of any third party. To the Knowledge of Seller, no third party is infringing, misappropriating or
otherwise violating rights in any material respect any Intellectual Property of HoldCo or any of its Subsidiaries.

 

2.24  Affiliate
Transactions. Except as disclosed on Appendix E, there are no transactions, contracts or liabilities between or among
(a) HoldCo or its Subsidiaries on the one hand, and (b) Seller, or any of Seller’s Affiliates, any direct or indirect investor
in the Project Company, or, to the Knowledge of Seller, any current representative of HoldCo or its Subsidiaries, Seller or its
Affiliates, or any member of the immediate family of any such representative, on the other hand.

 

2.25  Antisocial
Forces. None of Seller nor any employee, director, executive officer or equivalent person who executes business on behalf
of Seller, any Subsidiary Transferor, HoldCo or its Subsidiaries constitutes Antisocial Forces or, themselves or through third
parties, is engaged in Antisocial Activities.

 

ARTICLE
3

REPRESENTATIONS AND WARRANTIES OF Purchaser

 

Except
as set forth in, or qualified by any matter set forth in, the Schedules attached hereto, the Purchaser hereby represents and warrants
to Seller as set forth in this Article ‎3 as of (A) the date hereof and (B) if the Closing Date is not the date
of this Agreement, the Closing Date, in each case, unless otherwise specified in the representations and warranties below, in
which case the representation and warranty is made as of such date. Whether or not a particular Section of this Article ‎3
refers to a specific, numbered Schedule, such Section shall, to the extent applicable, be subject to the exceptions, qualifications,
and other matters set forth in the Schedules to the extent that the relevance of such exceptions, qualifications or other matters
is reasonably apparent on the face thereof.

 

    11 

    

    

 

3.1  Organization
and Status. The Purchaser (a) is duly formed, validly existing and in good standing under the laws of the jurisdiction
of its formation as set forth in the preamble to this Agreement, (b) is duly qualified, authorized to do business and in
good standing in each other jurisdiction where the character of its properties or the nature of its activities makes such qualification
necessary, and (c) has all requisite power and authority to own or hold under lease the property it purports to own or hold
under lease and to carry on its business as now being conducted. The Purchaser has made available to Seller complete and correct
copies of the Organization Documents for the Purchaser.

 

3.2  Power;
Authority; Enforceability. The Purchaser has the legal capacity and power to enter into and perform its obligations under
this Agreement and has been duly authorized, in accordance with its Organization Documents, to enter into and perform its obligations
under this Agreement. This Agreement has been duly executed and delivered by the Purchaser and constitutes the legal valid and
binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except as may be limited
by applicable bankruptcy, insolvency, moratorium, reorganization and similar laws affecting the enforcement of creditors’
rights generally and subject to general principles of equity regardless of whether enforceability is considered in a proceeding
in equity or at law.

 

3.3  No
Violation. The execution, delivery and performance by the Purchaser of its obligations under this Agreement, including without
limitation the purchase of the Acquired Interests from Seller or the Subsidiary Transferor, do not, and will not, (a) violate
any Governmental Rule to which the Purchaser is subject or the Organization Documents of the Purchaser, or (b) conflict with,
result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate,
terminate, modify or cancel or require any notice under any agreement, contract, lease, license, instrument or other arrangement
to which the Purchaser is a party or by which the Purchaser is bound.

 

3.4  No
Litigation. The Purchaser is not a party to and has not received written notice of any pending or, to the Knowledge of the
Purchaser, threatened litigation, action, suit, proceeding or governmental investigation against the Purchaser, which, in either
case, would reasonably be expected to materially impair or delay the ability of the Purchaser to perform its obligations under
this Agreement or which seeks the issuance of an order restraining, enjoining, altering or materially delaying the consummation
of the transactions contemplated by this Agreement.

 

3.5  Consents
and Approvals. Except as set forth in Part VII of Appendix B, no Consent of any Governmental Authority or any other
Person, is required by or with respect to the Purchaser in connection with the execution and delivery of this Agreement by the
Purchaser, or the consummation by the Purchaser of the transaction contemplated hereby, except for any consents which if not obtained
would not reasonably be expected to materially impair or delay the ability of the Purchaser to perform its obligations under this
Agreement.

 

3.6  Solvency.
There are no bankruptcy, reorganization or arrangement proceedings pending against, being contemplated by or, to the Knowledge
of the Purchaser, threatened against the Purchaser. The Purchaser (a) has not had a receiver, receiver and manager, liquidator,
sequestrator, trustee or other officer with similar powers appointed over all or part of

 

    12 

    

    

 

its
business or assets, and to the Knowledge of the Purchaser, no application therefor is pending or threatened, (b) is not insolvent
or presumed to be insolvent under any Law and is able to pay its debts as and when they fall due, (c) has not made a general
assignment for the benefit of its creditors, and (d) has not taken any action to approve any of the foregoing.

 

3.7  Compliance
with Law. To the Knowledge of the Purchaser, there has been no actual violation by the Purchaser of or failure of the Purchaser
to comply with any Governmental Rule that is applicable to it, or allegation by any Governmental Authority of such a violation,
that would reasonably be expected to prevent or materially impair or delay the consummation of the transactions contemplated by
this Agreement.

 

3.8  Investment
Intent. The Purchaser is acquiring the Acquired Interests for its own account, for investment and with no view to the distribution
thereof in violation of the Securities Act or the securities laws of any state of the United States or any other jurisdiction.

 

3.9  Accredited
Investor. The Purchaser is an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3), (7) or
(8) of the Securities Act, and is able to bear the economic risk of losing its entire investment in the Acquired Interests.

 

3.10  Broker’s
Fee. The Purchaser has no liability or obligation for any fees or commissions payable to any broker, finder or agent with
respect to the transactions contemplated by this Agreement.

 

3.11  Antisocial
Forces. None of Purchaser nor any employee, director, executive officer or equivalent person who executes business on behalf
of Purchaser or any Subsidiary Purchaser constitutes Antisocial Forces or, themselves or through third parties, is engaged in
Antisocial Activities.

 

ARTICLE
4

COVENANTS; OTHER OBLIGATIONS

 

4.1  Covenants
Between Signing and Closing. If the Closing Date is not the date of this Agreement, the provisions of this Section ‎4.1
shall apply during the period from the date hereof to the earlier of the Closing Date and the termination of this Agreement
pursuant to Section ‎5.4:

 

(a)  Project
Specific Pre-Closing Covenants of Seller. Seller shall use commercially reasonable efforts to conduct the business, operations
and affairs of the Project Company only in the ordinary and normal course of business, subject to the following provisions with
respect to any proposed entry into any Material Contract or any proposed amendment, termination or waiver (in whole or in part)
of any Material Contract (each such proposal, a “Material Contract Change”):

 

		(i)	Seller
                                         shall give prior written notice to Purchaser of, and shall to the extent practicable
                                         consult in good faith with Purchaser regarding, any Material Contract Change that would
                                         reasonably be expected to materially and adversely affect the Project or any applicable
                                         HoldCo; and

 

    13 

    

    

 

		(ii)	Seller
                                         may, but shall not be obligated to, seek by written notice the approval of the Purchaser
                                         to any Material Contract Change. During the twenty calendar-day period following delivery
                                         of any such notice, Seller shall provide to the Purchaser promptly any information within
                                         Seller’s possession regarding such Material Contract Change as the Purchaser reasonably
                                         requests. The Purchaser shall, by the end of such twenty calendar-day period, notify
                                         Seller whether it approves (acting reasonably) such Material Contract Change. If Purchaser
                                         does not approve such Material Contract Change, Seller may (A) abstain from proceeding
                                         with such Material Contract Change, (B) proceed with such Material Contract Change (in
                                         which case the Purchaser retains its right to assert a failure of a condition precedent
                                         to Closing, if applicable), or (C) terminate this Agreement. If Purchaser fails to complete
                                         the Closing as a result of a proposed Material Contract Change, then the Seller must
                                         proceed with such Material Contract Change, or notify the Purchaser and provide the Purchaser
                                         with the opportunity to complete the Closing.

 

(b)  Access,
Information and Documents. Subject to the next sentence, Seller will give to the Purchaser and to the Purchaser’s counsel,
accountants and other representatives reasonable access during normal business hours to all material Books and Records and the
Project (subject to all applicable safety and insurance requirements and any limitations on Seller’s rights to, or right
to provide others with, access) and will furnish to the Purchaser all such documents and copies of documents and all information,
including operational reports, with respect to the affairs of HoldCo and its Subsidiaries, the Project Company and the Project
as the Purchaser may reasonably request. If, by reason of any confidentiality obligations imposed on Seller by any counterparty
to a Contract who deals at arm’s length with Seller, Seller is unable to comply with the foregoing covenant, Seller and
the Purchaser shall use commercially reasonable efforts to obtain all necessary consents or waivers required to make the disclosure
(which, in the case of the Purchaser, may include the requirement to enter into a reasonable confidentiality or non-disclosure
agreement). The Purchaser agrees to comply with any confidentiality obligations which would be applicable to it under any such
Contracts received from Seller hereunder.

 

(c)  Updating
of Disclosure Schedules. Seller shall notify Purchaser in writing of any material changes, additions, or events occurring
after the date of this Agreement which require a representation and warranty of Seller (other than any representations or warranties
in Sections ‎2.6, ‎2.7 and ‎2.11, which, for clarity, may not be updated by Seller) to be
supplemented with a new Schedule or cause any material change in or addition to a Schedule promptly after Seller becomes aware
of the same by delivery of such new Schedule or appropriate updates to any such Schedule (each, an “Updated Disclosure
Schedule”) to Purchaser. Each Updated Disclosure Schedule shall (i) expressly state that it is being made pursuant
to this Section ‎4.1(c), (ii) specify the representations and warranties to which it applies and (iii) describe in
reasonable detail the changes, additions or events to which it relates. No Updated Disclosure Schedule delivered pursuant to this
Section ‎4.1(c) shall be deemed to cure any breach of any representation or warranty made to the Purchaser unless the
Purchaser specifically agrees thereto in writing or, as provided in and subject to Article ‎5, consummates the Closing
under this Agreement after

 

    14 

    

    

 

receipt
of such written notification, nor shall any such Updated Disclosure Schedule be considered to constitute or give rise to a waiver
by either of the Purchaser of any condition set forth in this Agreement, unless the Purchaser specifically agrees thereto in writing
or consummates the Closing under this Agreement after receipt of such written notification.

 

(d)  Further
Assurances. Each of the parties hereto shall use commercially reasonable efforts to take, or cause to be taken, all actions
and to do, or cause to be done, all things necessary, proper or advisable to consummate the transactions contemplated hereby as
soon as practicable.

 

(e)  Tax.
Without the prior written consent of Purchaser, none of Seller, each Subsidiary Transferor, Holdco, the Project Company and their
respective Subsidiaries shall, to the extent it may affect Holdco, the Project Company and their respective Subsidiaries and/or
the owners of any such entity, make or change any Tax election, change any annual Tax accounting period, adopt or change any method
of Tax accounting, file any amended Tax Return, settle any Tax claim or assessment, surrender any right to claim a Tax refund,
offset or other reduction in Tax liability.

 

(f)  Distributions.
Without the prior written consent of Purchaser, none of Seller or any of its Affiliates shall cause HoldCo or any of HoldCo’s
Subsidiaries to make any distributions of cash or assets to Seller or any of its Affiliates.

 

4.2  Other
Covenants

 

(a)  Costs,
Expenses. Except as may be specified elsewhere in this Agreement, the Purchaser shall pay all costs and expenses, including
legal fees and the fees of any broker, environmental consultant, insurance consultant, independent engineer, and title company
retained by the Purchaser for its due diligence and its negotiation, performance of and compliance with this Agreement. Seller
shall pay all costs and expenses (including in connection with any reports, studies or other documents listed in Part II
of Appendix D, unless specifically noted in Part II of Appendix D), including legal fees and the fees of
any broker of Seller or its Affiliates, relating to or resulting from the negotiation, performance of and compliance with this
Agreement by Seller.

 

(b)  Public
Announcement; Confidentiality. No party hereto shall make or issue, or cause to be made or issued, any public announcement
or written statement concerning this Agreement or the transactions contemplated hereby without the prior written consent of the
other parties, except to the extent required by law (including any disclosure which, in the reasonable judgment of the disclosing
party, is necessary or appropriate to comply with Governmental Rules and standards governing disclosures to investors) or in accordance
with the rules, regulations and orders of any stock exchange. Seller shall not, and shall cause its Affiliates and directors,
officers, employees, agents, consultants advisors and partners not to, disclose any confidential information in or relating to
this Agreement other than (i) to its Affiliates and its and their directors, officers, employees, agents, consultants, advisors
and partners, provided in each case that such recipient is bound by reasonable confidentiality obligations, (ii) as
required by applicable law or regulation or (iii) with the prior consent of Purchaser. Seller shall not use, and shall not
enable any third party to use, any confidential

 

    15 

    

    

 

information
in or relating to this Agreement that constitutes material non-public information regarding Purchaser in a manner that is prohibited
by the U.S. securities laws.

 

(c)  Regulatory
Approvals. Each party shall use its commercially reasonable efforts to obtain all required regulatory approvals (including
the required Governmental Approvals set forth in Part VII of Appendix B) as promptly as possible and, in any event,
prior to the Closing Date. To that end, each of the parties shall make, or cause to be made, all other filings and submissions,
and submit all other documentation and information that in the reasonable opinion of the Purchaser is required or advisable, to
obtain the regulatory approvals, and will use its commercially reasonable efforts to satisfy all requests for additional information
and documentation received under or pursuant to those filings, submissions and the applicable legislation and any orders or requests
made by any Governmental Authority. Notwithstanding any other provision of this Agreement, the Purchaser will not be required
to (i) propose or agree to accept any undertaking or condition, enter into any consent agreement, make any divestiture or accept
any operational restriction or other behavioral remedy, (ii) take any action that, in the reasonable judgment of the Purchaser,
could be expected to limit the right of the Purchaser to own or operate all or any portion of the business or assets of HoldCo
or any of its Subsidiaries, or of the Purchaser or any of its Affiliates, or to conduct their respective affairs in a manner consistent
with how they each conduct their affairs as of the date of this Agreement, or (iii) contest or defend any judicial or administrative
proceeding brought by any Governmental Authority seeking to prohibit, prevent, restrict or unwind the consummation of all or a
part of the transaction contemplated herein.

 

(d)  Consents.
Except in respect of regulatory approvals, which shall be governed by Section ‎4.2(c), as promptly as possible and,
in any event, prior to the Closing Date, Seller shall use commercially reasonable efforts to (i) make or cause to be made all
filings required by Law to be made by it in order to consummate the transaction contemplated hereby; and (ii) seek and obtain
all Consents required pursuant to Part VII of Appendix B.

 

(e)  Other
Obligations of Seller and Purchaser. The parties mutually covenant as follows:

 

		(i)	to
                                         use all reasonable efforts in good faith to obtain promptly the satisfaction of the conditions
                                         to Closing of the transactions contemplated herein;

 

		(ii)	to
                                         furnish to the other parties and to the other parties’ counsel all such information
                                         as may be reasonably required in order to effectuate the foregoing actions, including
                                         draft regulatory filings and submissions, provided that such information may be
                                         redacted to render illegible any commercially sensitive portions thereof, and in such
                                         event the parties will meet in good faith to agree on protective measures to allow disclosure
                                         of such redacted information to counsel in a manner that affords the maximum protection
                                         to such commercially sensitive information as is reasonable in the circumstances; and

 

    16 

    

    

 

		(iii)	to
                                         advise the other parties promptly if any party determines that any condition precedent
                                         to its obligations hereunder will not be satisfied in a timely manner.

 

(f)  Allocation
of Partnership Income and Loss. With respect to the income or loss of the Project Company for the fiscal year in which the
Closing occurs, the Purchaser shall cause the Project Company to allocate income or loss of the Project Company with respect to
the Acquired Interests for the period up to and including the Closing Date to the Seller, and to allocate income or loss of the
Project Company with respect to the Acquired Interests for the period after the Closing Date to Purchaser.

 

4.3  Tax
Covenants.

 

(a)  Seller
shall prepare or cause to be prepared and file or cause to be filed (i) all Tax Returns for HoldCo and its Subsidiaries that do
not include any Post-Closing Tax Period and (ii) all Tax Returns that the HoldCo and its Subsidiaries file jointly with the Seller
or any of its Affiliates. Seller shall permit Purchaser to review, comment and consent on each such Tax Return prior to filing
it and shall reasonably and in good faith consider such revisions to such Tax Returns as are requested by Purchaser. To the extent
that any Taxes shown as due and payable on any such Tax Return were not included in the calculation of the Purchase Price, such
Taxes shall be paid by Seller.

 

(b)  Except
as set forth in Section 4.03(c), Purchaser shall prepare or cause to be prepared and file or cause to be filed all Tax Returns
for HoldCo and its Subsidiaries. Purchaser shall permit Seller to review and comment on each such Tax Return that relates to a
Pre-Closing Tax Period prior to filing it, to the extent that such Tax Return could result in a Tax liability for which Seller
would be responsible under this Agreement, and Purchaser shall reasonably and in good faith consider such revisions to such Tax
Returns as are requested by Seller. Any Covered Taxes for any Tax Period with respect to which such Tax Returns were filed shall
be promptly paid to Purchaser or, at Purchaser’s request, to the applicable Governmental Authority, to the extent not included
in the calculation of the Purchase Price.

 

(c)  For
purposes of the determination of Covered Tax in respect of a Straddle Tax Period, (i) in the case of any Taxes other than gross
receipts, sales or use Taxes and Taxes based upon or related to income, the definition of Covered Tax shall be deemed to include
the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the
Tax period ending on and including the Closing Date and the denominator of which is the number of days in the entire Tax period,
and (ii) in the case of any Tax based upon or related to income and any gross receipts, sales or use Tax, the definition of Covered
Tax shall be deemed to include the amount that would be payable if the relevant Tax period ended on and included the Closing Date.

 

(d)  All
transfer (including real property transfer), stamp, issuance, sales, use, filing, recording, documentary, value added, ad valorem
or similar taxes or governmental fees or assessments (collectively, and including any penalties and interest, “Transfer
Taxes”) incurred in connection with the transactions contemplated by this Agreement shall be borne in equal parts
by Purchaser and Seller. The party that is required by applicable Law to file any Tax Return

 

    17 

    

    

 

with
respect to Transfer Taxes shall do so, and the other party shall reasonably cooperate with respect thereto. If either party may
file any such required Tax Return, Seller shall file the Tax Return and Purchaser agrees to reasonably cooperate with Seller with
respect thereto.

 

ARTICLE
5

CONDITIONS TO CLOSING; TERMINATION

 

5.1  Conditions
Precedent to Each Party’s Obligations to Close. The obligations of the parties to proceed with the Closing under this
Agreement are subject to the fulfillment prior to or at Closing of the following conditions (any one or more of which may be waived
in whole or in part by all parties in their sole discretion):

 

(a)  No
Violations. The consummation of the transactions contemplated hereby shall not violate any applicable Governmental Rule.

 

(b)  No
Adverse Proceeding. No order of any court or administrative agency shall be in effect which restrains or prohibits the transactions
contemplated hereby, and there shall not have been threatened, nor shall there be pending, any action or proceeding by or before
any court or Governmental Authority challenging any of the transactions contemplated by this Agreement or seeking monetary relief
by reason of the consummation of such transactions.

 

(c)  No
Termination. This Agreement shall not have been terminated pursuant to Section ‎5.4.

 

(d)  Other
Conditions Precedent to Closing to Each Party’s Obligations. The conditions precedent, if any, set forth on Appendix
B-3 shall have been satisfied (any one or more of which may be waived in whole or in part by all parties in their sole discretion).

 

5.2  Conditions
Precedent to Obligations of Purchaser to Close. The obligations of the Purchaser to proceed with the Closing under this Agreement
with respect to the purchase of the Acquired Interests are subject to the fulfillment prior to or at Closing of the following
conditions (any one or more of which may be waived in whole or in part by the Purchaser in its sole discretion):

 

(a)  Representations
and Warranties. The representations and warranties of Seller set forth in Sections ‎2.1 to ‎2.7 (inclusive)
and ‎2.11 shall be true and correct as of the Closing Date as if made at and as of such date. All other representations
and warranties of Seller set forth in Article 2 shall be true and correct at and as of the Closing Date as if made at and
as of such date (other than any representations or warranties that are qualified by materiality, including by reference to Material
Adverse Effect, which shall be true in all respects) as though such representations and warranties were made on and as of the
Closing Date, except to the extent that (i) such representations and warranties expressly relate to an earlier date, in which
case as of such earlier date and (ii) the failure of such representations and warranties to be true and correct, taken in
the aggregate, would not have a Material Adverse Effect.

 

(b)  Performance
and Compliance. Seller shall have performed, in all material respects, all of the covenants and complied with all of the provisions
required by this Agreement to be performed or complied with by it on or before the Closing.

 

    18 

    

    

 

(c)  Consents.
All necessary Consents shall have been obtained, including those set forth in Part VII of Appendix B.

 

(d)  Certificate
of Seller. The Purchaser shall have received a certificate of Seller dated the date of the Closing confirming the matters
set forth in Sections ‎5.2(a) and ‎(b) in a form reasonably acceptable to the Purchaser.

 

(e)  Good
Standing Certificate. The Purchaser shall have received a good standing certificate of Seller, each Subsidiary Transferor,
HoldCo and each of its Subsidiaries, in each case issued by the secretary of state or equivalent local Governmental Authority
of the state or local jurisdiction of its formation; provided that in the case of any entities formed under the laws of
Japan, documents which are customary delivered for Japanese entities which evidence the equivalent shall be delivered in lieu
of a good standing certificate.

 

(f)  Satisfactory
Instruments. All instruments and documents reasonably required on the part of Seller to effectuate and consummate the transactions
contemplated hereby shall be delivered to the Purchaser and shall be in form and substance reasonably satisfactory to the Purchaser.

 

(g)  Material
Contracts. Absence of any amendment to, entry into, termination or waiver (in whole or in part) of any Material Contract (except
any such amendment, termination or waiver that has been approved by the Purchaser) that would reasonably be expected to materially
and adversely affect the Project and/or the HoldCo.

 

(h)  Other
Conditions Precedent of Purchaser to Close. The conditions precedent, if any, set forth on Appendix B-4 shall have
been satisfied or waived in whole or in part by Purchaser in Purchaser’s sole discretion.

 

5.3  Conditions
Precedent to the Obligations of Seller to Close. Subject to Section ‎5.5, the obligations of Seller to proceed
with the Closing hereunder with respect to Seller’s sale of the Acquired Interests are subject to the fulfillment prior
to or at Closing of the following conditions (any one or more of which may be waived in whole or in part by Seller in its sole
discretion):

 

(a)  Purchase
Price. The Purchaser shall have transferred in immediately available funds the Initial Purchase Price pursuant to, in accordance
with and into the account or accounts designated in, Part I of Appendix B.

 

(b)  Representations
and Warranties. The representations and warranties set forth in Article ‎3 shall be true and correct at and as
of the Closing Date as if made at and as of such date (other than any representations or warranties that are made as of a specific
date, which shall be true and correct as of such date).

 

(c)  Performance
and Compliance. The Purchaser shall have performed, in all material respects, all of the covenants and complied with all the
provisions required by this Agreement to be performed or complied with by it on or before the Closing.

 

    19 

    

    

 

(d)  Certificate
of Purchaser. Seller shall have received a certificate of the Purchaser dated the date of the Closing confirming the matters
set forth in Sections ‎5.3(b) and ‎(c) in a form reasonably acceptable to Seller.

 

(e)  Satisfactory
Instruments. All instruments and documents required on the part of the Purchaser to effectuate and consummate the transactions
contemplated hereby shall be delivered to Seller and shall be in form and substance reasonably satisfactory to Seller.

 

(f)  Other
Conditions Precedent to Seller’s Obligation to Close. The conditions precedent, if any, set forth on Appendix B-5
shall have been satisfied or waived in whole or in part by Seller in Seller’s sole discretion.

 

5.4  Termination.
If the Closing Date is not the date of this Agreement, the following termination provisions shall be applicable:

 

(a)  By
the Parties. This Agreement may be terminated at any time by mutual written consent of Purchaser and Seller.

 

(b)  By
Either Party. This Agreement may be terminated at any time prior to the Closing by either Seller or the Purchaser, if (i)
a Government Approval required to be obtained as set forth on Part VII of Appendix B shall have been denied and
all appeals of such denial have been taken and have been unsuccessful, (ii) one or more courts of competent jurisdiction in the
United States, or any state or any other applicable jurisdiction has issued an order permanently restraining, enjoining, or otherwise
prohibiting the Closing, and such order has become final and non-appealable, or (iii) the Closing has not occurred by the Outside
Closing Date, but if such failure to close by the Outside Closing Date is due to any breach of this Agreement by any party, such
party shall not have any right to terminate this Agreement pursuant to this clause (iii).

 

(c)  Other
Termination Rights. This Agreement may be terminated at any time prior to the Closing by the applicable party if and to the
extent permitted in Part V of Appendix B.

 

(d)  Termination
Procedure. In the event of termination of this Agreement by any or all parties pursuant to this Section ‎5.4, written
notice thereof will forthwith be given by the terminating party to the other parties and this Agreement will terminate and the
transactions contemplated hereby will be abandoned, without further action by any party. If this Agreement is terminated as permitted
by this Section ‎5.4, such termination shall be without liability of any party (or any stockholder, shareholder, director,
officer, employee, agent, consultant or representative of such party) to the other parties to this Agreement; provided
that (i) the foregoing will not relieve any party for any liability for willful and intentional material breaches of its
obligations hereunder occurring prior to such termination and (ii) except as specifically set forth herein, nothing in this
Agreement shall derogate from the provisions of the Purchase Rights Agreements, which agreements shall remain in full force and
effect after termination of this Agreement.

 

5.5  Closing
Notice. Upon the satisfaction of the conditions set forth in Sections ‎5.1 and ‎5.2, Seller shall deliver
a notice to Purchaser scheduling the date of the Closing (a “Closing 

 

    20 

    

    

 

Notice”),
which shall be at least ten (10) Business Days after the date of delivery of the Closing Notice.

 

ARTICLE
6

REMEDIES FOR BREACHES OF THIS AGREEMENT

 

6.1  Indemnification.

 

(a)  By
Seller. Subject to Part VI of Appendix B and the limitations set forth in this Article ‎6 and Section
‎7.14, from and after the Closing, Seller agrees to indemnify and hold harmless the Purchaser and its Affiliates together
with their respective directors, officers, managers, employees and agents (each a “Purchaser Indemnified Party”)
from and against any and all Losses that any Purchaser Indemnified Party incurs by reason of or in connection with any of the
following circumstances:

 

		(i)	any
                                         breach by Seller of any representation or warranty made by it in Article ‎2
                                         (subject to any Updated Disclosure Schedules delivered pursuant to Section ‎4.1(c)
                                         that are deemed to cure a breach of any representation or warranty in accordance
                                         with the last sentence of Section ‎4.1(c)) or any breach or violation of any
                                         covenant, agreement or obligation of Seller contained herein;

 

		(ii)	Covered
                                         Taxes; and

 

		(iii)	as
                                         set forth in Part VI of Appendix B.

 

(b)  By
Purchaser. Subject to Part VI of Appendix B and the limitations set forth in this Article ‎6
and Section ‎7.14, from and after the Closing, the Purchaser agrees to indemnify and hold harmless Seller and Seller’s
Affiliates together with their respective directors, officers, managers, employees and agents (each a “Seller Indemnified
Party”) from and against any and all Losses that any Seller Indemnified Party incurs by reason of or in connection
with any of the following circumstances:

 

		(i)	any
                                         breach by the Purchaser of any representation or warranty made by it in Article ‎3
                                         or any breach or violation of any covenant, agreement or obligation of the Purchaser
                                         contained herein; and

 

		(ii)	as
                                         set forth in Part VI of Appendix B.

 

6.2  Limitations
on Seller’s or Purchaser’s Indemnification.

 

(a)  Minimum
Limit on Claims. A party required to provide indemnification under this Article ‎6 (an “Indemnifying
Party”) shall not be liable under this Article ‎6 to an Indemnified Party for any Claim for breach of
any representation or warranty unless and until the aggregate amount of all Claims for which it would, in the absence of this
provision, be liable exceeds the Basket Amount, and in such event the Indemnified Party will be liable for the amount of all Claims,
including the Basket Amount; provided that the foregoing limitation shall

 

    21 

    

    

 

not
apply in the case of actual fraud or willful misrepresentation by the Indemnifying Party or, for the avoidance of doubt, to Covered
Taxes.

 

(b)  Maximum
Limit on Claims.

 

		(i)	Limitation
                                         on Seller’s Liability. Seller’s maximum aggregate liability for Claims
                                         for breaches of representations and warranties under this Agreement is limited to Seller’s
                                         Maximum Liability set forth in Part VI of Appendix B; provided that
                                         the Seller’s Maximum Liability will not apply to any Claim based on (A) actual
                                         fraud or willful misrepresentation, (B) any breach of the representations and warranties
                                         set forth in Sections ‎2.1, ‎2.2, ‎2.3,
                                         ‎2.5, ‎2.6, 2.9, ‎2.11
                                         and ‎2.18 (solely with respect to the Indebtedness of HoldCo and its Subsidiaries)
                                         or (C) for the avoidance of doubt, Covered Taxes.

 

		(ii)	Limitation
                                         on Purchaser’s Liability. The Purchaser’s maximum aggregate liability
                                         for Claims for breaches of representations and warranties under this Agreement is limited
                                         to the Purchaser’s Maximum Liability set forth in Part VI of Appendix
                                         B; provided that the Purchaser’s Maximum Liability will not apply to
                                         any Claim based on (A) actual fraud or willful misrepresentation or (B) any breach of
                                         the representations and warranties set forth in Sections ‎3.1, ‎3.2,
                                         ‎3.3, ‎3.5 and ‎3.10.

 

(c)  Time
Limit for Claims. No Indemnified Party may make a Claim for indemnification under Section ‎6.1 in respect of any
Claim unless notice in writing of the Claim, incorporating a statement setting out in reasonable detail the grounds on which the
Claim is based, has been given by the Indemnified Party prior to the expiration of the applicable Survival Period as set forth
in Part VI of Appendix B.

 

6.3  Reimbursements;
Refunds.

 

(a)  Right
of Reimbursement. Subject to Part VI of Appendix B, the amount of Losses payable under Section ‎6.1
by an Indemnifying Party shall be net of any amounts recovered by the Indemnified Party under applicable insurance policies or
from any other Person responsible therefor. If the Indemnified Party receives any amounts under applicable insurance policies,
or from any other Person responsible for any Losses subsequent to an indemnification payment by the Indemnifying Party and such
amounts would result in a duplicative recovery, then such Indemnified Party shall promptly reimburse the Indemnifying Party for
any payment made or expense incurred by such Indemnifying Party in connection with providing such indemnification payment up to
the amount received by the Indemnified Party, net of any expenses incurred by such Indemnified Party in collecting such amount.

 

(b)  Other
Refund Obligations. In addition to the obligations set forth in Section ‎6.3(a), the applicable Indemnified Party
shall be obligated to reimburse or refund to the

 

    22 

    

    

 

Indemnifying
Party for payments made by it to such Indemnified Party under this Article ‎6 as set forth in Part VI of Appendix
B.

 

6.4  Right
to Control Proceedings for Third Party Claims.

 

(a)  If
a third party shall notify any party with respect to any matter that may give rise to a Claim (a “Third Party Claim”),
the Indemnified Party must give notice to the Indemnifying Party of the Third Party Claim (a “Third Party Claim Notice”)
within twenty (20) Business Days after it becomes aware of the existence of the Third Party Claim and that it may constitute a
Third Party Claim. The Indemnified Party’s failure to give a Third Party Claim Notice in compliance with this Section
‎6.4(a) of any Third Party Claim which may give rise to a right of indemnification hereunder shall not relieve the Indemnifying
Party of any liability which it may have to the Indemnified Party unless, and solely to the extent that, the failure to give such
notice materially and adversely prejudiced the Indemnifying Party.

 

(b)  The
Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified Party, to assume control
of the defense of any Third Party Claim with the Indemnifying Party’s own counsel, in each case at the Indemnifying Party’s
own cost and expense (provided that prior to assuming control of such defense, the Indemnifying Party must acknowledge its indemnity
obligations under this Article ‎6), and the Indemnified Party shall cooperate in good faith in such defense. The Indemnified
Party shall have the right, at its own cost and expense, to participate in the defense of any Third Party Claim with separate
counsel selected by it, subject to the Indemnifying Party’s right to control the defense thereof; provided that in
such event the Indemnifying Party shall pay the fees and expenses of such separate counsel (i) incurred by the Indemnified Party
prior to the date the Indemnifying Party assumes control of the defense of the Third Party Claim, (ii) if such Third Party Claim
would reasonably be expected to be materially detrimental to the business, reputation or future prospects of any Indemnified Party
or (iii) if representation of both the Indemnifying Party and the Indemnified Party by the same counsel would create a conflict
of interest. If the Indemnifying Party (i) fails to promptly notify the Indemnified Party in writing of its election to defend
or fails to acknowledge its indemnity obligations under this Article ‎6 as provided in this Agreement, (ii) elects
not to defend (or compromise at its sole cost and expense) such Third Party Claim, (iii) has elected to defend such Third Party
Claim but fails to promptly and diligently pursue the defense such Third Party Claim, (iv) otherwise breaches any of its obligations
under this Article ‎6 or (v) if the Third Party Claim is reasonably expected by the Indemnified Party to result in
a payment obligation on the Indemnified Party in an amount that exceeds the maximum indemnification then available to the Indemnified
Party pursuant to this Article ‎6, then the Indemnifying Party shall not be entitled to assume or maintain control
of the defense of such Third Party Claim and the Indemnified Party may (by written notice to the Indemnifying Party) assume control
of such defense (in which case the Indemnifying Party shall pay the fees and expenses of counsel retained by the Indemnified Party)
and/or compromise such Third Party Claim and seek indemnification for any and all Losses based upon, arising from or relating
to such Third Party Claim. The parties shall cooperate with each other in all reasonable respects in connection with the defense
of any Third Party Claim.

 

(c)  Notwithstanding
any other provision of this Agreement, the Indemnifying Party shall not enter into any settlement of any Third Party Claim without
the prior written

 

    23 

    

    

 

consent
of the Indemnified Party (which consent shall not be unreasonably withheld or delayed), except as provided in this Section
‎6.4(c). If a firm offer is made to settle a Third Party Claim that (i) does not (A) result in any liability or create
any financial or other obligation on the part of the Indemnified Party and (B) result in the loss of any right or benefit on the
part of any Indemnified Party, (ii) does not impose injunctive or other equitable relief against any Indemnified Party, and (iii)
provides, in customary form, for the unconditional release of each Indemnified Party from all liabilities and obligations in connection
with such Third Party Claim, and the Indemnifying Party desires to accept and agree to such firm offer, then the Indemnifying
Party shall give written notice to that effect to the Indemnified Party. If the Indemnified Party fails to consent to such firm
offer within twenty (20) days after its receipt of such notice, the Indemnified Party may continue to contest or defend such Third
Party Claim and in such event, the maximum liability of the Indemnifying Party as to such Third Party Claim shall not exceed the
amount of such settlement offer. If the Indemnified Party fails to consent to such firm offer within such twenty (20) day period
and also fails to assume defense of such Third Party Claim, the Indemnifying Party may settle the Third Party Claim upon the terms
set forth in such firm offer to settle such Third Party Claim. If the Indemnified Party has assumed the defense pursuant to Section
‎6.4(b), it may settle the Third Party Claim; provided that if the settlement is made without the prior written
consent of the Indemnifying Party (which consent shall not be unreasonably withheld or delayed), the Indemnifying Party shall
have no indemnity obligation pursuant to this Article ‎6 with respect to such Third Party Claim.

 

6.5  Mitigation;
Treatment of Indemnification.

 

(a)  The
Indemnified Party shall use commercially reasonable efforts to mitigate all Losses relating to a Claim for which indemnification
is sought under this Article ‎6.

 

(b)  All
indemnification payments under this Article ‎6 shall be deemed adjustments to the Purchase Price.

 

6.6  Exclusive
Remedy. Seller and Purchaser acknowledge and agree that, should the Closing occur, and excluding liability for actual fraud
or willful misrepresentation, the foregoing indemnification provisions of this Article ‎6 and the provisions of Section
‎7.15 shall be the sole and exclusive remedy of Seller and Purchaser with respect to any misrepresentation, breach of
warranty, covenant or other agreement (other than any Purchase Price Adjustment set forth in Part I of Appendix B)
or other claim arising out of this Agreement or the transactions contemplated hereby. Without limiting the generality of the foregoing,
effective as of the Closing each of the Purchaser and Seller covenants to the other party that in respect of any matters under
or contemplated in this Agreement, it will not make any Claim whatsoever against any Affiliate of the other party or the directors,
officers, managers, shareholders, member, controlling persons, employees and agents of any of the foregoing, in each case in their
capacities as such, and its rights in respect of any such Claim for breach of any provision of this Agreement are limited solely
to such rights as it may have against Seller or Purchaser, as the case may be, under this Agreement.

 

    24 

    

    

 

ARTICLE
7

MISCELLANEOUS

 

7.1  Entire
Agreement. This Agreement and the Exhibits, Schedules and Appendices hereto, each of which is hereby incorporated herein,
set forth all of the promises, covenants, agreements, conditions, undertakings, representations and warranties between the parties
hereto with respect to the subject matter hereof and supersede all prior and contemporaneous agreements and understandings, inducements
or conditions, express or implied, oral or written.

 

7.2  Notices.
All notices, requests, demands and other communications hereunder shall be in writing (including facsimile transmission and electronic
mail (“email”) transmission and shall be deemed to have been duly given if personally delivered, telefaxed
(with confirmation of transmission), e-mailed (so long as confirmation of receipt is requested and received) or, if mailed, when
mailed by first-class (for United States post only), certified or registered mail, postage prepaid, or by any international or
national overnight delivery service, to the other party at the addresses as set forth in Part VII of Appendix B
(or at such other address as shall be given in writing by any party to the other). All such notices, requests, demands and other
communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5 p.m. in the place
of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall
be deemed not to have been received until the next succeeding Business Day in the place of receipt.

 

7.3  Successors
and Assigns.

 

(a)       No
party shall assign this Agreement or any of its rights or obligations herein without the prior written consent of the other parties,
in their sole discretion, except as provided herein and except that any party may assign this Agreement or any of its rights or
obligations herein to an Affiliate of such party but the assigning party shall continue to be liable for all of its obligations
hereunder following any such assignment. Subject to the foregoing, this Agreement, and all rights and powers granted hereby, will
bind and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

(b)       Notwithstanding
Section ‎7.3(a), each of Seller and Purchaser may assign this Agreement without the consent of the other parties as
specified in Part VII of Appendix B.

 

7.4  Jurisdiction;
Service of Process; Waiver of Jury Trial.

 

(a)       EACH
OF THE PARTIES HERETO WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT,
TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(b)       Any
and all claims, counterclaims, demands, causes of action, disputes, controversies, and other matters in question arising out of
or relating to this Agreement, or the alleged breach hereof, or in any way relating to the subject matter of this Agreement or
the relationship between the parties created by this Agreement (hereafter, a “Dispute”), except for
any claims for specific performance as set forth in Section ‎7.15, shall be finally resolved by binding arbitration
administered by the American Arbitration Association (“AAA”) under the

 

    25 

    

    

 

AAA
Commercial Arbitration Rules, including the Procedures for Large, Complex Commercial Disputes (the “Rules”)
then in force to the extent such Rules are not inconsistent with the provisions of this Agreement. The party or parties commencing
arbitration shall deliver to the other party or parties a written notice of intent to arbitrate (a “Demand”)
in accordance with Rule R-4. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§1 et seq.

 

		(i)	Selection
                                         of Arbitrators. Disputes shall be resolved by a panel of three independent and impartial
                                         arbitrators, (the “Arbitrators”). The party or parties initiating
                                         the arbitration shall appoint an arbitrator in its or their Demand; the responding party
                                         or parties shall appoint an arbitrator in its or their answering statement, which is
                                         due thirty (30) days after receipt of the Demand. If any party fails or refuses to timely
                                         nominate an arbitrator within the time permitted, such arbitrator shall be appointed
                                         by the AAA from individuals with significant experience in renewable energy projects
                                         from its Large, Complex Commercial Case Panel. Within thirty (30) days of the appointment
                                         of the second arbitrator, the two party-appointed arbitrators shall appoint the third
                                         arbitrator, who shall act as the chair of the arbitration panel. If the two party-appointed
                                         arbitrators fail or refuse to appoint the third arbitrator within such thirty (30)-day
                                         period, the third arbitrator shall be appointed by the AAA from individuals with significant
                                         experience in renewable energy projects from its Large, Complex Commercial Case Panel
                                         in accordance with Rule R-12. The Arbitrators, acting by majority vote, shall resolve
                                         all Disputes.

 

		(ii)	Confidentiality.
                                         To the fullest extent permitted by law, the arbitration proceedings and award shall be
                                         maintained in confidence by the parties.

 

		(iii)	Place
                                         of Arbitration. The place of arbitration shall be New York, New York. Any action
                                         in connection therewith shall be brought in the United States District Court for the
                                         Southern District of New York or, if that court does not have jurisdiction, any New York
                                         state court in New York County. Each party consents to the exclusive jurisdiction of
                                         such courts in any such suit, action or proceeding, and irrevocably waives, to the fullest
                                         extent permitted by law, any objection which it may now or hereafter have to the laying
                                         of the venue of any such suit, action or proceeding in any such court or that any such
                                         suit, action or proceeding which is brought in any such court has been brought in an
                                         inconvenient forum. Each party further agrees to accept service of process out of any
                                         of the before mentioned courts in any such dispute by registered or certified mail addressed
                                         to the party at the address set forth in Part VII of Appendix B.

 

    26 

    

    

 

		(iv)	Conduct
                                         of the Arbitration. The arbitration shall be conducted in accordance with the Rules
                                         and in a manner that effectuates the parties’ intent that Disputes be resolved
                                         expeditiously and with minimal expense. The Arbitrators shall endeavor to commence the
                                         arbitration hearing within one hundred and eighty (180) days of the third arbitrator’s
                                         appointment.

 

		(v)	Interim
                                         Relief. Any party may apply to the Arbitrators seeking injunctive relief until the
                                         arbitration award is rendered or the controversy is otherwise resolved. Any party also
                                         may, without waiving any remedy under this Agreement, seek from any court having jurisdiction
                                         any interim or provisional relief that is necessary to protect the rights or property
                                         of that party, pending the establishment of the arbitral tribunal (or pending the Arbitrators’
                                         determination of the merits of the controversy).

 

		(vi)	Discovery.
                                         The Arbitrators, upon a showing of good cause, may require and facilitate such limited
                                         discovery as it shall determine is appropriate in the circumstances, taking into account
                                         the needs of the parties, the burden on the parties, and the desirability of making discovery
                                         limited, expeditious, and cost-effective. The Arbitrators shall issue orders to protect
                                         the confidentiality of proprietary information, trade secrets and other sensitive information
                                         disclosed in discovery.

 

		(vii)	Arbitration
                                         Award. The Arbitrators shall endeavor to issue a reasoned, written award within thirty
                                         (30) days of the conclusion of the arbitration hearing. The Arbitrators shall have the
                                         authority to assess some or all of the costs and expenses of the arbitration proceeding
                                         (including the Arbitrators’ fees and expenses) against any party. The Arbitrators
                                         shall also have the authority to award attorneys’ fees and expenses to the prevailing
                                         party or parties. In assessing the costs and expenses of the arbitration and/or awarding
                                         attorneys’ fee and expenses, the Arbitrators shall consider the relative extent
                                         to which each party has prevailed on the disputed issues and the relative importance
                                         of those issues. The limitations of Section ‎7.14 shall apply to any award by
                                         the Arbitrators.

 

7.5  Headings;
Construction; and Interpretation. The headings preceding the text of the sections and subsections hereof are inserted solely
for convenience of reference and shall not constitute a part of this Agreement, nor shall they affect its meaning, construction
or effect. Except as otherwise expressly provided, the rules of construction set forth in Appendix A-2 shall apply to this
Agreement. The parties agree that any rule of law or any legal decision that would require interpretation of any claimed ambiguities
in this Agreement against the party that drafted it has no application and is expressly waived.

 

    27 

    

    

 

7.6  Further
Assurances. Each party shall cooperate and take such action as may be reasonably requested by the other party in order to
carry out the provisions and purposes of this Agreement and the transactions contemplated hereby.

 

7.7  Amendment
and Waiver. The parties may by mutual agreement amend this Agreement in any respect, and any party, as to such party, may
(a) extend the time for the performance of any of the obligations of any other party, (b) waive any inaccuracies in
representations by any other party, (c) waive compliance by any other party with any of the agreements contained herein and
performance of any obligations by such other party, and (d) waive the fulfillment of any condition that is precedent to the
performance by such party of any of its obligations under this Agreement. To be effective, any such amendment or waiver must be
in writing and be signed by the party against whom enforcement of the same is sought.

 

7.8  No
Other Beneficiaries. This Agreement is being made and entered into solely for the benefit of Purchaser and Seller, and neither
Purchaser nor Seller intends hereby to create any rights in favor of any other Person as a third party beneficiary of this Agreement
or otherwise.

 

7.9  Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the jurisdiction specified in Part
VII of Appendix B.

 

7.10  Schedules.
References to a Schedule shall include any disclosure expressly set forth on the face of any other Schedule even if not specifically
cross-referenced to such other Schedule to the extent that the relevance of such matter is reasonably apparent on the face thereof.
The fact that any item of information is contained in a disclosure schedule shall not be construed as an admission of liability
under any Governmental Rule, or to mean that such information is material. Such information shall not be used as the basis for
interpreting the term “material”, “materially” or any similar qualification in this Agreement.

 

7.11  Limitation
of Representations and Warranties. The Purchaser acknowledges that except as expressly provided in Article 2 of this
Agreement, Seller has not made, and Seller hereby expressly disclaims and negates, and the Purchaser hereby expressly waives,
any other representation or warranty, express, implied, at Law or otherwise relating to the Acquired Interests, Seller or Seller’s
Affiliates, the Project Company, the Project or this Agreement.

 

7.12  Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but which together shall
constitute one and the same instrument. A facsimile or electronically imaged version of this Agreement may be executed by one
or more parties hereto and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile or “PDF”
electronic mail pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall
be considered valid, binding and effective for all purposes.

 

7.13  Severability.
If any provision of this Agreement or any other agreement entered into pursuant hereto is contrary to, prohibited by or deemed
invalid under applicable law or regulation, such provision shall be inapplicable and deemed omitted to the extent so contrary,
prohibited or invalid, but the remainder hereof shall not be invalidated thereby and shall be given

 

    28 

    

    

 

full
force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner
materially adverse to any party. Upon such a determination, the parties shall negotiate in good faith to modify this Agreement
so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the fullest extent possible.

 

7.14  Limit
on Damages. Each party hereto acknowledges and agrees that neither party shall be liable to the other party for any punitive
damages (except to the extent paid to a third party in respect of a Third Party Claim) or damages that were not reasonably foreseeable.

 

7.15  Specific
Performance. The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent breaches
of this Agreement or to enforce specifically the performance of the terms and provisions hereof in any court of competent jurisdiction,
in addition to any other remedy to which they are entitled at law or in equity.

 

[SIGNATURE
PAGE FOLLOWS]

 

    29 

    

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Purchase and Sale Agreement as of the day and year first above written.

 

 

 

	PATTERN
ENERGY GROUP INC.

                            

        /s/ Dyann Blaine

        By: Dyann Blaine

Its: Vice President
	 

 

    [Signature Page to Tsugaru LP1 Purchase and Sale Agreement]

    

    

 

	PATTERN
ENERGY GROUP LP

                            

        /s/ Daniel M. Elkort

        By: Daniel M. Elkort

Its: Vice President
	 

 

    [Signature Page to Tsugaru LP1 Purchase and Sale Agreement]

    

    

 

APPENDIX
A-1: GENERAL DEFINITIONS

(as applicable and to the extent used in the final Agreement)

 

“AAA”
shall have the meaning set forth in Section ‎7.4(b).

 

“Acquired
Interests” shall have the meaning set forth in the recitals, as more fully described in Part I of Appendix
C.

 

“Affiliate”
means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, controls,
is controlled by or is under common control with the Person specified, or who holds or beneficially owns 50% or more of the equity
interest in the Person specified or 50% or more of any class of voting securities of the Person specified; provided that
notwithstanding the foregoing (a) Purchaser and their respective Subsidiaries shall not be deemed to be Affiliates of Seller and
(b) Seller and its Affiliates (other than Purchaser and their respective Subsidiaries) shall not be deemed to be Affiliates of
the Purchaser.

 

“Agreement”
shall have the meaning set forth in the preamble to this Agreement.

 

“Antisocial
Activities” means, collectively, (i) making violent demands; (ii) making wrongful demands beyond legal liability;
(iii) engaging in threatening or violent behavior in relation to transactions; (iv) damaging the trust of parties to a transaction
or obstructing business by spreading rumors or using fraudulent means or force; and (v) any other actions equivalent to items
(i) through (iv).

 

“Antisocial
Forces” means entities or persons that are (i) gangster crime groups (“bouryokudan” as defined
under Article 2(ii) of the Act on Prevention of Unjust Acts by Organized Crime Group Members (Act No. 77 of 1991, including subsequent
revisions; hereinafter, the “Act on Prevention of Unjust Acts by Organized Crime Group Members”)); (ii)
members of gangster crime groups (“bouryokudan in” as defined under Article 2(vi) of the Act on Prevention
of Unjust Acts by Organized Crime Group Member; hereinafter the same) or former gangster crime groups members for whom fewer than
five years having passed since separation; (iii) associate members of gangster crime groups; (iv) companies affiliated with gangster
crime groups; (v) extortionist (soukaiya) racketeer groups; (vi) groups conducting criminal activities under the pretext
of social campaigns; (vii) crime groups specialized in intellectual crimes; (viii) other entities equivalent to items (i) through
(vii); (ix) companies whose management is influenced by a person to which any of items (i) through (viii) apply (hereinafter,
“Gang Members”); (x) companies whose management materially involves Gang Members; (xi) persons who wrongfully
engage Gang Members for the purpose of gaining unjust profit for themselves, their company or a third party or for the purpose
of harming a third party; (xii) persons who provide funds or assistance to or are otherwise involved with Gang Members; and (xiii)
companies whose directors or other persons materially involved in their management have socially unacceptable relationships with
Gang Members.

 

“Arbitrators”
shall have the meaning set forth in Section ‎7.4(b).

 

“Basket
Amount” shall have the meaning set forth in Part VI of Appendix B.

 

    App. A-1 - 1

    

    

 

“Books
and Records” means books, Tax Returns, contracts, commitments, and records of a Person.

 

“Business
Day” means any day other than a Saturday, a Sunday or any other day on which banks are authorized to be closed in
New York, New York.

 

“Claim”
means a claim by an Indemnified Party for indemnification pursuant to Section ‎6.1.

 

“Closing”
shall have the meaning set forth in Section ‎1.4.

 

“Closing
Date” shall mean the date a Closing occurs.

 

“Closing
Notice” shall have the meaning set forth in Section ‎5.5.

 

“Code”
shall mean the United States Internal Revenue Code of 1986, as amended.

 

“Consent”
means any consent, approval, order or Permit of or from, or registration, declaration or filing with or exemption by any Person,
including a Governmental Authority.

 

“Contract”
means any agreement, lease, license, obligation, plan, arrangement, purchase order, commitment, evidence of indebtedness, mortgage,
indenture, security agreement or other contract (whether written or oral) entered into by a Person or by which a Person or any
of its assets are bound.

 

“Covered
Tax” means any (a) Tax of Holdco and its Subsidiaries related to a Pre-Closing Tax Period and (b) liability for
the payment of any amount of Tax as a result of being or having been before the Closing a member of an affiliated, consolidated,
combined or unitary group, or a party to any agreement or arrangement, as a result of which liability of Holdco or any of its
Subsidiaries is determined or taken into account with reference to the activities of any other Person.

 

“Demand”
shall have the meaning set forth in Section ‎7.4(b).

 

“Dispute”
shall have the meaning set forth in Section ‎7.4(b).

 

“Dollars”
or “$” means the lawful currency of the United States of America.

 

“Environmental
Claim” means any suit, action, demand, directive, claim, Lien, written notice of noncompliance or violation, allegation
of liability or potential liability, or proceeding made or brought by any Person in each case (a) alleging any liability under
or violation of or noncompliance with any applicable Environmental Law, (b) with respect to the release of or exposure to Hazardous
Substances, or (c) with respect to noise pollution or visual impacts, including shadow flicker.

 

“Environmental Law” means any Law pertaining
to the environment, natural resources, human health and safety in connection with exposure to Hazardous Substances, and physical
and biological natural resources, including but not limited to the Soil Contamination

 

    App. A-1 - 2

    

    

 

Countermeasures
Act of Japan (Act No. 53 of May 29, 2002) and Waste Management and Public Cleansing Act (Law No. 137 of 1970).

 

“ERISA”
means the Employment Retirement Income Security Act of 1974, as amended.

 

“Financial
Model” means the financial model for the Project.

 

“Financial
Statements” means the annual unaudited consolidated statement of operations of HoldCo and its Subsidiaries for the
year ended December 31, 2017 and the related balance sheet as at December 31, 2017 prepared in accordance with GAAP.

 

“GAAP”
means generally accepted accounting principles used by the Project Company or HoldCo to prepare the Financial Statements, consistently
applied throughout the specified period.

 

“Governmental
Authority” means any federal or national, state, county, municipal or local government or regulatory or supervisory
department, body, political subdivision, commission, agency, instrumentality, ministry, court, judicial or administrative body,
taxing authority, or other authority thereof (including any corporation or other entity owned or controlled by any of the foregoing)
having jurisdiction over the matter or Person in question, including the Ministry of Economy, Trade and Industry of Japan and
the Bank of Japan.

 

“Governmental
Rule” means, with respect to any Person, any applicable law, statute, treaty, rule, regulation, ordinance, order,
code, judgment, decree, protocol, operating guide, injunction or writ issued by any Governmental Authority.

 

“Hazardous
Substances” means all substances, materials, chemicals, wastes or pollutants that are defined, regulated, listed
or prohibited under Environmental Law, including without limitation, (i) asbestos or asbestos containing materials, radioactive
materials, lead, and polychlorinated biphenyls, any petroleum or petroleum product, solid waste, mold, mycotoxin, urea formaldehyde
foam insulation and radon gas; (ii) any waste or substance that is listed, defined, designated or classified as, or otherwise
determined by any Environmental Law to be, ignitable, corrosive, radioactive, dangerous, toxic, explosive, infectious, radioactive,
mutagenic or otherwise hazardous; (iii) any pollutant, contaminant, waste, chemical, deleterious substances or other material
or substance (whether solid, liquid or gas) that is defined as a “solid waste,” “hazardous waste,” “hazardous
material,” “hazardous substance,” “extremely hazardous waste,” “restricted hazardous waste,”
“pollutant,” “contaminant,” “hazardous constituent,” “special waste,” “toxic
substance,” or a word, term, or phrase of similar meaning or regulatory effect under any Environmental Law.

 

“HoldCo”
shall have the meaning set forth in Part I of Appendix C.

 

“Indebtedness”
means all obligations of a Person (a) for borrowed money (including principal, accrued and unpaid interest, fees due, and any
other amounts due), whether or not contingent, (b) evidenced by notes, bonds, debentures, mortgages or similar instruments or
debt securities, (c) for the deferred purchase price of property, goods or services (other than trade payables or accruals incurred
in the ordinary course of business and not past due), including all seller notes and “earn out” payments, (d) under
capital leases, (e) secured by a Lien on the assets of such

 

    App. A-1 - 3

    

    

 

Person,
whether or not such obligation has been assumed by such Person, (f) with respect to reimbursement obligations for letters of credit,
performance bonds and other similar instruments (whether or not drawn), (g) under any interest rate, currency or other hedging
agreement (including collars) or commitment therefor, (h) to repay deposits or other amounts advanced by and owing to third parties,
(i) under conditional sale or other title retention agreements relating to property purchased by such Person, (j) in the nature
of guaranties of the obligations described in clauses (a) through (i) above of any other Person or as to which such Person has
an obligation substantially the economic equivalent of a guaranty, or (k) in respect of any other amount properly characterized
as indebtedness in accordance with GAAP.

 

“Indemnified
Party” means either a Purchaser Indemnified Party or a Seller Indemnified Party, as the case may be.

 

“Indemnifying
Party” shall have the meaning set forth in Section ‎6.2(c).

 

“Initial
Purchase Price” shall have the meaning set forth in Part I of Appendix B.

 

“Intellectual
Property” means all intellectual property rights, including, without limitation, (a) patents, patent applications,
patent disclosures and inventions, (b) Internet domain names, trademarks, trade names, service marks, trade dress, trade names,
logos and corporate names and registration and applications for registration of any item listed in clause (b), together with all
of the goodwill associated therewith, (c) copyrights (registered or unregistered), works of authorship and copyrightable works,
and registrations and applications for registration of any item in this clause (c), (d) computer software (whether in source code,
object code or other form), data, databases and any documentation related to any item listed in this clause, (e) trade secrets
and other confidential information (including confidential and proprietary know how, ideas, formulas, compositions, recipes, inventions
(whether patentable or unpatentable and whether or not reduced to practice), manufacturing and production processes, procedures
and techniques, research and development information, drawings, blueprints, specifications, designs, plans, proposals, technical
data, financial and marketing plans and customer and supplier lists and information), (f) all rights of privacy and publicity,
(g) other intellectual property rights and (h) copies and tangible embodiments thereof (in whatever form or medium).

 

“Knowledge”
means (a) with respect to Seller, the actual knowledge of the persons identified in Part VII of Appendix B, which
shall include at a minimum (i) the senior developer responsible for the Project, (ii) the construction manager responsible for
the Project, (iii) the transaction counsel responsible for the financing of the Project and (iv) the finance manager responsible
for the financing of the Project and (b) with respect to the Purchaser, the actual knowledge of the persons identified in Part
VII of Appendix B opposite the name of the Purchaser.

 

“Laws”
means all common law, laws, by-laws, statutes, treaties, rules, Orders, rulings, decisions, judgments, injunctions, awards, decrees,
codes, ordinances, standards, regulations, restrictions, official guidelines, policies, directives, interpretations, Permits or
like action having the effect of law of any Governmental Authority.

 

“Lease”
means a lease, ground lease, sublease, license, concession, easement, right of way, encroachment agreement, municipal right of
way agreements, and road user agreements or other

 

    App. A-1 - 4

    

    

 

written
agreement, including any option relating thereto, in each case, governing real property, to which HoldCo or any of its Subsidiaries
is a party or by which any of their respective assets is bound.

 

“Lien”
on any asset means any mortgage, deed of trust, lien, hypothec, pledge, charge, security interest, restrictive covenant, right
of first refusal, right of first offer, easement or encumbrance of any kind in respect of such asset, whether or not filed, recorded
or otherwise perfected or effective under applicable law, as well as the interest of a vendor or lessor under any conditional
sale agreement, capital lease or other title retention agreement relating to such asset.

 

“Loss”
means any and all losses (including loss of profit and loss of expected profit), claims, actions, liabilities, damages, expenses,
diminution in value or deficiencies of any kind or character including all interest and other amounts payable to third parties,
all liabilities on account of Taxes and all reasonable legal fees and expenses and other expenses reasonably incurred in connection
with investigating or defending any claims or actions, whether or not resulting in any liability.

 

“Material
Adverse Effect” means any circumstance, matter, condition, development, change, event, occurrence, state of affairs,
or effect that, individually or in the aggregate, is or would reasonably be expected to have a material adverse effect on (a)
the business, results of operations, assets or liabilities, financial condition or properties of HoldCo and its Subsidiaries,
taken as a whole, or (b) the ability of Seller to consummate the transactions contemplated by this Agreement or otherwise perform
any of its obligations under this Agreement; provided, however, none of the following shall be deemed (either alone
or in combination) to constitute, and none of the following shall be taken into account in determining whether there has been,
a Material Adverse Effect:

 

(a)       any
change in general economic, political or business conditions;

 

(b)       changes
resulting from acts of war or terrorism or any escalation or worsening of any such acts of war or terrorism threatened or underway
as of the date of this Agreement;

 

(c)       changes
or developments generally affecting the power services industry;

 

(d)       any
changes in accounting requirements or principles imposed by GAAP after the date of this Agreement;

 

(e)       any
changes in applicable Law after the date of this Agreement; or

 

(f)       changes
in the wind power industry that, in each case, generally affect companies in such industry;

 

provided
that the incremental extent of any disproportionate change, event, occurrence, development, effect, condition, circumstance
or matter described in clauses (a) through (f) with respect to HoldCo and its Subsidiaries, taken as a whole, relative to other
similarly situated businesses in the wind power industry may be considered and taken into account in determining whether there
has been a Material Adverse Effect.

 

    App. A-1 - 5

    

    

 

“Material
Contract” (i) any Material Lease, (ii) the Contracts set forth on Part I, III, IV and V
of Appendix D and (iii) any other Contract to which HoldCo or any of its Subsidiaries is a party or by which any such
Person, or any of their respective assets, is bound (A) providing for past or future payments by or to such HoldCo or any of its
Subsidiaries in excess of $500,000 (or its Japanese Yen equivalent) annually or $1,000,000 (or its Japanese Yen equivalent) in
the aggregate, (B) relating to any partnership, joint venture or other similar arrangement, (C) relating to any Indebtedness,
(D) limiting the freedom of HoldCo or any of its Subsidiaries to compete in any line of business or with any Person or in
any area or granting “most favored nation” or similar status, (E) with either Seller or any of such Seller’s
Affiliates, (F) with Purchaser or any of its Affiliates, (G) relating to the acquisition or disposition of any business or material
portion thereof (whether by merger, sale of stock, sale of assets or otherwise), (H) that was not entered into in the ordinary
course of business of HoldCo and its Subsidiaries, or (I) the loss of which would result in a Material Adverse Effect.

 

“Material
Contract Change” shall have the meaning set forth in Section ‎4.1(a).

 

“Material
Leases” means all Leases related to the Project (i) the loss of which would result in a reduction in production
of the Project or in its ability to deliver energy to the point of interconnection or would otherwise result in a Material Adverse
Effect, or (ii) that are otherwise material to the operations of the Project.

 

“Order”
means any writ, judgment, injunction, ruling, decision, order or similar direction of any Governmental Authority, whether preliminary
or final.

 

“Organization
Documents” means, with respect to (a) any corporation, its articles or certificate of incorporation and by-laws,
(b) any limited partnership, its certificate or declaration of limited partnership and its partnership agreement, (c) any limited
liability company, its articles or certificate of organization or formation and its operating agreement, members agreement or
limited liability company agreement, or (d) any other Person, documents of similar substance.

 

“Outside
Closing Date” shall have the meaning set forth in Part III of Appendix B.

 

“Permitted
Lien” means any of the following: (a) Liens for Taxes either not yet due and payable or being contested in good
faith through appropriate proceedings and for which adequate reserves have been established in the Project Company’s balance
sheet in accordance with GAAP; (b) inchoate mechanics’ and materialmen’s Liens for construction in progress and workmen’s,
repairmen’s, warehousemen’s and carrier’s Liens arising in the ordinary course of business either for amounts
not yet due or which have not been perfected, filed or registered in accordance with applicable Law against HoldCo or any of its
Subsidiaries, the Project or the Project Company Real Property; (c) as to any Project Company Real Property, title defects, easements,
rights of first refusal, restrictions, irregularities, encumbrances (other than for borrowed money), encroachments, servitudes,
rights of way and statutory Liens that do not or would not reasonably be expected to materially impair the value or use by HoldCo
or any of its Subsidiaries of the Project Company Real Property and (d) security given to a public utility or any Governmental
Authority when required by such utility or authority in connection with the operations of HoldCo or any of its Subsidiaries in
the ordinary course of business.

 

    App. A-1 - 6

    

    

 

“Permit”
means filings, registrations, licenses, permits, notices, technical assistance letters, decrees, certificates, approvals, consents,
waivers, Orders, authorizations, agreements, directions, instructions, grants, easements, exemptions, exceptions, variances and
authorizations to or from any Governmental Authority.

 

“Person”
means any individual, corporation, partnership, limited partnership, limited liability partnership, trust, business trust, estate,
joint venture, unincorporated association, limited liability company, cooperative, Governmental Authority or other entity.

 

“Personal
Property” means all office equipment, machinery, equipment, supplies, vehicles, tractors, trailers, tools, spare
parts, production supplies, furniture and fixtures and other items of tangible personal property owned by HoldCo or any of its
Subsidiaries used primarily in connection with ownership, maintenance or operation of the Project.

 

“Post-Closing
Adjustment” shall have the meaning set forth in Part I of Appendix B.

 

“Post-Closing
Tax Period” means, with respect to the applicable Closing Date, any Tax period beginning after the Closing Date;
and, with respect to a Straddle Tax Period, the portion of such Tax period beginning after the Closing Date.

 

“Pre-Closing
Tax Period” means, with respect to the applicable Closing Date, any Tax period ending on or before the Closing Date;
and, with respect to a Straddle Tax Period, the portion of such Tax period ending on the Closing Date.

 

“Project”
shall have the meaning set forth in the recitals to this Agreement, and is more particularly described in Part II
of Appendix C of the Agreement.

 

“Project
Company” shall have the meaning set forth in the recitals to this Agreement, and is more particularly described
in Part I of Appendix C of the Agreement.

 

“Project
Company Real Property” means all real property of HoldCo and its Subsidiaries, together with all buildings, structures,
improvements and fixtures of the Project thereon, (i) held pursuant to a Material Lease or (ii) required to be set forth on Part
II of Appendix C.

 

“Purchase
Price” shall have the meaning set forth in Section ‎1.1, and is more particularly described in Part
I of Appendix B.

 

“Purchase
Price Adjustment” shall have the meaning set forth in Part I of Appendix B.

 

“Purchase
Rights Agreements” means that certain Amended and Restated Purchase Rights Agreement dated as of June 16, 2017 by
and among Seller, Pattern Energy Group Inc. and, solely with respect to Article IV thereof, Pattern Energy Group Holdings LP and
Pattern Energy GP LLC, as such agreement is amended, modified or supplemented in accordance with its terms.

 

“Purchaser”
shall have the meaning set forth in the preamble to this Agreement.

 

“Purchaser
Indemnified Party” shall have the meaning set forth in Section ‎6.1(a).

 

    App. A-1 - 7

    

    

 

“Purchaser
Subsidiary” shall have the meaning set forth in the recitals to this Agreement, and is more particularly described
in Part II of Appendix C of the Agreement.

 

“Purchaser’s
Maximum Liability” shall have the meaning set forth in Part VI of Appendix B.

 

“Rules”
shall have the meaning set forth in Section ‎7.4(b).

 

“Securities
Act” shall have the meaning set forth in Section ‎2.10.

 

“Seller”
shall have the meaning set forth in the preamble to this Agreement.

 

“Seller
Indemnified Party” shall have the meaning set forth in Section ‎6.1(b).

 

“Seller’s
Maximum Liability” shall have the meaning set forth in Part VI of Appendix B.

 

“Straddle
Tax Period” means, with respect to the Closing Date, a Tax period that begins on or before the Closing Date and
ends thereafter.

 

“Subsidiary”
means, with respect to any Person, any entity of which securities or other ownership interests having ordinary voting power to
elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly
owned by such Person.

 

“Subsidiary
Transferor” shall have the meaning set forth in Part I of Appendix C.

 

“Survival
Period” shall have the meaning set forth in Part VI of Appendix B.

 

“Tax”
or “Taxes” means, collectively all federal, state and local or foreign income, estimated, payroll, withholding,
excise, sales, goods and services, harmonized, value-added, use, real and personal property, corporation, use and occupancy, business
and occupation, mercantile, transfer, capital stock and franchise or other taxes, levies, duties, assessments, reassessments or
other charges of any kind whatsoever (including interest, additions and penalties thereon), whether disputed or not.

 

“Tax
Return” means any return, declaration, notice, form, report, claim for refund or information return or statement
relating to the determination, assessment, collection or payment of Taxes or to the administration, implementation or enforcement
of or compliance with any legal requirement pertaining to Taxes, including, for greater certainty, any schedule or attachment
thereto.

 

“Third
Party Claim” shall have the meaning set forth in Section ‎6.4(a).

 

“Third
Party Claim Notice” shall have the meaning set forth in Section ‎‎‎6.4(a).

 

    App. A-1 - 8

    

    

 

APPENDIX
A-2: RULES OF CONSTRUCTION

 

		1.	The
                                         singular includes the plural and the plural includes the singular.

 

		2.	The
                                         word “or” is not exclusive.

 

		3.	A reference
                                         to a Governmental Rule includes any amendment or modification to such Governmental Rule,
                                         and all regulations, rulings and other Governmental Rules promulgated under such Governmental
                                         Rule.

 

		4.	A reference
                                         to a Person includes its successors and permitted assigns.

 

		5.	Accounting
                                         terms have the meanings assigned to them by GAAP, as applied by the accounting entity
                                         to which they refer.

 

		6.	The
                                         words “include,” “includes” and “including” are not
                                         limiting and shall be deemed to mean “include, without limitation”, “includes,
                                         without limitation” or “including, without limitation”.

 

		7.	A reference
                                         to an Article, Section, Exhibit, Schedule or Appendix is to the Article, Section, Exhibit,
                                         Schedule or Appendix of this Agreement unless otherwise indicated.

 

		8.	Any
                                         reference to “this Agreement”, “hereof,” “herein”
                                         and “hereunder” and words of similar import used in this Agreement shall
                                         refer to this Agreement as a whole and not to any particular provision of this Agreement.

 

		9.	Any
                                         reference to another agreement or document shall be construed as a reference to that
                                         other agreement or document as the same may have been, or may from time to time be, varied,
                                         amended, supplemented, substituted, novated, assigned or otherwise transferred.

 

		10.	References
                                         to “days” shall mean calendar days, unless the term “Business Days”
                                         shall be used. References to a time of day shall mean such time in New York, New York,
                                         unless otherwise specified.

 

		11.	This
                                         Agreement is the result of negotiations among, and has been reviewed by, Seller, Purchaser,
                                         and their respective counsel. Accordingly, this Agreement shall be deemed to be the product
                                         of the parties thereto, and no ambiguity shall be construed in favor of or against either
                                         Seller or Purchaser.

 

		12.	The
                                         words “will” and “shall” shall be construed to have the same
                                         meaning and effect.

 

    App. A-2 - 1

    

    

 

APPENDIX
B: Transaction Terms and Conditions

 

	Tsugaru
    Transaction – LP1
	I.       Purchase
        Price

         

	“Purchase
    Price”:	An
amount equal to the aggregate of:

         

        (a)       $41,526,105,
        which amount shall be payable on the Closing Date (the “Initial Purchase Price”); and

         

        (b)       ¥11,425,042,000,
        which amount shall be payable on the date (the “Final Completion Date”) on which the term conversion
        of the construction loan to a term loan is consummated or, if there shall be no such term conversion, the date on which
        commercial operations of the Project Company commences (the “Deferred Purchase Price” and, together
        with the Initial Purchase Price, the “Purchase Price”).

         

	Currency:	US
    Dollars, or when otherwise provided, Japanese Yen.
	“Purchase
        Price Adjustment”:

         
	To
    the extent that after the date hereof and prior to the Closing, Seller contributes any additional equity capital to HoldCo
    or any of its Subsidiaries (excluding any capital contribution through Green Power Investment Corporation (“GPI”)),
    the Initial Purchase Price will be increased on a dollar-for-dollar basis to reflect such additional contributed capital.
	Post-Closing
    Adjustment:	At
        and after the Closing, the Deferred Purchase Price will be adjusted as follows:

         

        (A)  If
        the Final Project Costs for the Project at the point of term conversion of the construction loan are less than or equal
        to the Construction Budget, the Deferred Purchase Price will be increased by an amount equal to the lesser of (i) nine
        hundred sixty nine million Japanese Yen (¥969,000,000) and (ii) the product of (1) 95.00% and (2) the amount by which
        the Construction Budget exceeds the Final Project Costs (disregarding this clause (2) if it is a negative number).

         

        (B)  If
        the Final Project Costs for the Project at the point of term conversion of the construction loan exceed the Construction
        Budget, then the Deferred Purchase Price will be reduced by an amount equal the lesser of (i) nine hundred sixty nine
        million Japanese Yen (¥969,000,000) and (ii) the product of (1) 95.00% and (2)(x) the Final Project Costs less
        (y) the Construction Budget.

         

        (C)  On
the Final Completion Date, the Deferred Purchase Price will be adjusted to reflect the Financial Model Adjustment as follows:

 

    1

    

    

 

	 	If
        the Financial Model Adjustment is positive, the Deferred Purchase Price payable by Purchaser to Seller on the Final Completion
        Date will be increased by an amount equal to the product of (x) 95.00% and (y) the Financial Model Adjustment.

         

        If
        the Financial Model Adjustment is negative, the Deferred Purchase Price payable by Purchaser to Seller on the Final Completion
        Date will be decreased by an amount equal to the product of (x) 95.00% and (y) the Financial Model Adjustment.

         

        “Construction
        Budget” means the final amount of the construction budget as defined in the Tsugaru Credit Agreement, less
        any GE Inclusion Amount.

         

        “Final
        Project Costs” means the actual incurred or accrued (in the case of interest during construction) costs
        to construct the Project, including all of the costs outlined in the Construction Budget, which have actually been incurred,
        and excluding the GE Inclusion Amount.

         

        “GE
        Inclusion Amount” is equal to the yen amount (if any) that the lenders under the Tsugaru Credit Agreement
        agree to include as Project Costs in the final, executed version of the Tsugaru Credit Agreement, which is expected to
        be Japanese Yen 1,276,000,000.

         

        “Project
        Costs” means (i) the final amount of the Project Costs as defined in the Tsugaru Credit Agreement, less
        (ii) the GE Inclusion Amount, if any; provided that if there are any material changes to the definitions of “Project
        Costs” or “Construction Budget” (including material changes to any of the defined terms used therein)
        set forth in the Tsugaru Credit Agreement, then the parties will cooperate in good faith to make any appropriate changes
        to the definitions of “Project Costs” or “Construction Budget,” as applicable, as such term is
        used herein.

         

        “Tsugaru
        Credit Agreement” means that certain draft credit agreement dated January 10, 2018, to be entered into by
        and among the Project Company as Borrower, the Bank of Tokyo-Mitsubishi UFJ, Ltd. as Administrative Agent and the other
        parties thereto.

         

        Financial
        Model Adjustment

         

        “Financial
Model Adjustment” means an increase or decrease, as the case may be, in the Deferred Purchase Price payable at the
Final Completion Date necessary to maintain under the updated Financial Model contemplated by paragraphs (1) and (2) below the
20 year after tax IRR of the Purchaser (which shall be denominated in Japanese Yen) (the “Purchaser’s Return”)
on a basis consistent with the calculations in the Financial Model. The Financial Model Adjustment shall be determined as follows:

 

    2

    

    

 

	 	(1)
        In lieu of the updated Financial Model delivered pursuant to Section 1.5(a)(iii) of the Agreement, not less than five
        (5) Business Days prior to the Final Completion Date the Purchaser shall deliver to the Seller (A) an updated Financial
        Model for the Project reflecting the adjustments specified in paragraph (2) below; and (B) a detailed calculation of the
        proposed Purchase Price Adjustment applicable to the Deferred Purchase Price. The Seller shall have a period of two (2)
        Business Days to review and confirm the updates to the Financial Model and the calculation of the Purchase Price Adjustment
        applicable to the Deferred Purchase Price. If the Seller disapproves of such updates to the Financial Model and/or the
        calculation of the Purchase Price Adjustment applicable to the Deferred Purchase Price, the parties shall have a further
        period of two (2) Business Days to negotiate the same. In the event that the parties cannot agree on such updates to the
        Financial Model and/or calculation of the Purchase Price Adjustment applicable to the Deferred Purchase Price (acting
        reasonably) following such two (2) Business Day period, (x) the parties shall resolve any dispute in accordance with the
        procedures set forth in Section 1.5(a)(iii) (which, for the avoidance of doubt, shall not delay the Final Completion
        Date) and (y) the amount in dispute shall be retained by the Purchaser until the dispute is resolved as aforesaid. Subject
        to the foregoing, Purchase shall deliver to Seller a signed direction containing the final determination of the Deferred
        Purchase Price (less any disputed amount) for the Seller not less than two (2) Business Days prior to the Final Completion
        Date.

         

        (2)
        The updated Financial Model delivered pursuant to paragraph (1) shall reflect any changes since the date of this Agreement
        through the Final Completion Date that could reasonably be expected to impact the Purchaser’s Return but solely
        to the extent relating to:

         

        (A)       changes
        in the final financing terms for the Project (including the terms of any project debt financing);

         

        (B)       changes
        to reflect amendments to or new Material Contracts that have an economic impact on the Project;

         

        (C)       changes
        in the amounts and timing of material acquired assets and liabilities not associated with operating the Project in the
        ordinary course, including consumption tax reimbursements, system upgrades and warranty claims;

         

        (D)       changes
        to the Final Completion Date from the expected Final Completion Date;

         

        (E)       changes
        in the timing of Closing, the amount and timing of payment of the Initial Purchase Price, the Deferred Purchase Price
        and any Purchase Price Adjustments, and the amount and date of the initial distribution to the Purchaser (considering
        any distributions received by the Seller prior to Closing, and with the Seller leaving a reasonable amount of working
        capital in the project to fund near term payables);

         

        (F)        manifest
        errors; and

         

        (G)       changes
to the net capacity factor (NCF) directly attributable to any changes to as-built conditions.

 

    3

    

    

 

	Deferred
    Purchase Price:	See
    definition in Part I above
	Payment
        Mechanics and Payee Information:

         
	Seller

                                                                               

        Bank: 

        ABA: 

        Account
#: 

        Account
Name: 

        SWIFT: 

         

	II.       Signing
        Date Deliverables

         

	Seller’s
        Signing Date Deliverables:

         
	Duly
executed copies of:

        ·     Purchase
and Sale Agreement by and between Purchaser and Seller related to Purchaser’s acquisition of the membership interests of
GK Green Power Kanagi, GK Green Power Otsuki and GK Green Power Futtsu (the “Kanagi, Ohorayama and Futtsu LP1 PSA”),
as of the date hereof; and

        ·     Deferred
Payment Agreement by and between Purchaser and Seller (the “Deferred Payment Agreement”), as of the date hereof.

	Purchaser’s
    Signing Date Deliverables:	Duly
executed copies of:

        ·     the
Kanagi, Ohorayama and Futtsu LP1 PSA;

        ·     Purchase
and Sale Agreement by and between Purchaser and GPI related to the Project Company (the “Tsugaru GPI PSA”),
as of the date hereof;

        ·     Purchase
and Sale Agreement by and between Purchaser and GPI related to Purchaser’s acquisition of membership interest of GK Green
Power Kanagi, GK Green Power Otsuki and Otsuki Wind Power Corporation (the “Kanagi, Ohorayama and Otsuki GPI PSA”),
as of the date hereof; and

        ·     the
Deferred Payment Agreement.

	III.       Closing

         

	Closing
        Location:

         
	At
the offices of Purchaser:

        Pier
1, Bay 3

        San
        Francisco, CA 94111

         

	Expected
    Closing Date:	March  5,
    2018
	Outside
        Closing Date:

         
	June
    30, 2018
	IV.       Closing
Deliverables & Conditions Precedent to Closing

 

    4

    

    

 

	Additional
    Closing Deliverables of Seller: 	In
        addition to the closing deliverables set forth in Section 1.5(a) of the Agreement, Seller shall deliver, or cause
        to be delivered, to Purchaser the additional closing deliverables set forth in Appendix B-1.

         

	Additional
    Closing Deliverables of Purchaser: 	In
        addition to the closing deliverables set forth in Section 1.5(b) of the Agreement, Purchaser shall deliver, or
        cause to be delivered, to Seller the additional closing deliverables set forth in Appendix B-2.

         

	Additional
    Conditions Precedent to Each Party’s Obligations to Close:	In
        addition to the conditions precedent set forth in Section 5.1 of the Agreement, the obligation of Purchaser and
        Seller to Close is subject to the additional conditions precedent set forth in Appendix B-3.

         

	Additional
    Conditions Precedent to Purchaser’s Obligations to Close:	In
        addition to the conditions precedent set forth in Section 5.2 of the Agreement, the obligation of Purchaser to
        Close is subject to the additional conditions precedent set forth in Appendix B-4.

         

	Additional
    Conditions Precedent to Seller’s Obligations to Close:	In
        addition to the conditions precedent set forth in Section 5.3 of the Agreement, the obligation of Seller to Close
        is subject to the additional conditions precedent set forth in Appendix B-5.

         

	V.       Additional
        Termination Rights

         

	By
        Either Purchaser or Seller:

         
	N/A

         

	By
        Purchaser:

         
	Purchaser
shall have the right to terminate this Agreement without any liability or payment, at any time prior to the occurrence of the
Closing hereunder, if:

        ·     any
of the Kanagi, Ohorayama and Futtsu LP1 PSA, the Kanagi, Ohorayama and Otsuki GPI PSA or the Tsugaru GPI PSA are terminated for
any reason prior to the closing of the Acquisitions (as defined therein) contemplated thereby; or

        ·     one
or more circumstances, developments, changes or events has occurred since the date hereof that, individually or in the aggregate,
could reasonably be expected to result in the failure of a condition to closing the financing with respect to the Project contemplated
under the Tsugaru Credit Agreement.

	By
        Seller:

         
	N/A

         

	VI.       Indemnification
        Provisions

         

	Additional
        Seller Indemnity Obligations:

         
	None
	Additional
        Purchaser Indemnity Obligations:

         
	None

         

 

    5

    

    

 

	Survival
        Period:

         
	Until
    the date that is 12 months after the Closing, except for (i) the representations and warranties in Sections 2.1, 2.2, 2.3(a),
    2.6 and 2.11 and any claim for any breach of any representation or warranty involving actual fraud or willful misrepresentation,
    which shall survive until the expiration of the relevant statute of limitations, (ii) the representation and warranty in Section
    2.18 with respect to the Indebtedness of HoldCo and its Subsidiaries, which shall survive until the date that is the later
    of: (A) 6 months after the Closing; and (B) 3 months following the completion of the Project Company’s first annual
    audited financial statements for a fiscal year ending after the Closing, and (iii) the representations and warranties in Section
    2.9, which shall survive until the date that is 60 days after the expiration of the period, if any, during which an assessment,
    reassessment or other form of recognized written demand assessing liability for Tax, interest or penalties under applicable
    Law in respect of any taxation year to which such representations and warranties relate could be issued to HoldCo or any of
    its Subsidiaries (the “Survival Period”). 
	Allocation
    of Indemnification Payments:	With
        respect to any indemnification payments to be made by the Seller under this Agreement with respect to (i) any Tsugaru
        Representations and/or (ii) any covenants contained in Article 4 of this Agreement to the extent relating to the Project
        Company and its Subsidiaries (“Project Level Indemnity Obligations”), the following shall apply: (x)
        the amount of any Losses shall be determined as if the Seller had indirectly owned and sold to Purchaser both (i) the
        Acquired Interests under this Agreement and (ii) the Acquired Interests (as defined in the GPI PSA) and (y) the aggregate
        amount of such indemnification payments shall be made severally and not jointly by GPI and Seller in the following proportions:
        5.00% by GPI and 95.00% by Seller; provided, further that the foregoing allocation shall not apply to any
        actual fraud or willful misrepresentation by either GPI or Seller, and each of GPI and Seller shall remain fully liable
        for its own actual fraud or willful misrepresentation as and to the extent provided for in this Agreement (in the case
        of Seller) and the GPI PSA (in the case of GPI).

         

        “Tsugaru
        Representations” means the representations and warranties with respect to the Project and the Project Company
        and its Subsidiaries.

         

	Limitation
    on Liability:	“Basket
        Amount”:

         
	1.00%
        of the Aggregate Tsugaru Purchase Price; provided that any amounts paid by GPI with respect to Project Level Indemnity
        Obligations relating to breaches of Tsugaru Representations shall be deemed to have been paid by Seller for purposes of
        applying the Basket Amount.

         

        “Aggregate
Tsugaru Purchase Price” means the sum of (i) the Purchase Price under this Agreement plus (ii) the purchase price set
forth in the GPI PSA; provided that with respect to any matters that are not Project Level Indemnity Obligations, the Basket
Amount and Seller’s Maximum Liability shall be determined with reference to the amount in clause (i) above only without
including the amount in clause (ii).

 

    6

    

    

 

		“Seller’s Maximum Liability”

	11.00%
        of the Aggregate Tsugaru Purchase Price; provided that any amounts paid by GPI with respect to Project Level Indemnity
        Obligations shall be deemed to have been paid by Seller for purposes of applying the Basket Amount.

         

	 	“Purchaser’s
        Maximum Liability”:

         
	11.00%
        of the Purchase Price.

         

	Additional
        Refund or Reimbursement Obligations:

         
	By
Purchaser or Purchaser Indemnified Party: None

                                                                                           

        By
either Seller or any Seller Indemnified Party: None

         

	Set-off	Purchaser
    shall have the right to set off any indemnification payments to be made by Seller, on a dollar-for-dollar basis, against any
    amounts payable to Seller pursuant to the Post-Closing Adjustment in Part I of Appendix B and/or the Deferred
    Purchase Price and/or that certain Deferred Payment Agreement dated as of the date hereof between Pattern Energy Group Inc.
    and Pattern Energy Group LP. 
	VII.       Additional
        Transaction Terms

         

	Required
    Governmental Approvals:	1.     Subsidiary
Purchaser to submit a prior notification to give consent to change the business purpose of the Project Company with the Form 3.

        2.     Pattern
US Finance Company LLC to submit to Bank of Japan a prior notification of inward direct investment (tainai chokusetsu toshi)
in regard to the investment in Subsidiary Purchaser pursuant to the Foreign Exchange and Foreign Trade Act of Japan.

        3.     Subsidiary
Purchaser to submitt to Bank of Japan a prior notification of inward direct investment (tainai chokusetsu toshi) in regard
to the investment in the Project Company pursuant to the Foreign Exchange and Foreign Trade Act of Japan.

	Persons
    with Knowledge:	Purchaser’s
        Persons with Knowledge: Esben Pedersen, Mike Lyon and Dyann Blaine

         

        Seller’s
        Persons with Knowledge: Mark Anderson, Christopher McCune, Liz Krall, Yukitake Hayashi, Yoshiyuki Mitsuhashi, Kevin Deters
        and Frank Davis

         

	Additional
        Assignment Rights:

         
	Assignment
Rights of Seller: None

                                                                                           

        Assignment
Rights of Purchaser: None

         

	Governing
    Law:	New
        York

         

 

    7

    

    

 

	Notice
    Information:	To
        Purchaser:

         
	Pier
1, Bay 3

        San
Francisco, CA 94111

        Attention:
General Counsel

        Phone:
415-283-4000

        Fax:
        415-362-7900

         

	To
        Seller:

         
	Pier
1, Bay 3

        San
Francisco, CA 94111

        Attention:
General Counsel

        Phone:
415-283-4000

        Fax:
415-362-7900

         

 

    8

    

    

 

APPENDIX
B-1:

 

ADDITIONAL
CLOSING DELIVERABLES OF Seller

 

		1.	A
                                         properly executed Assignment and Assumption Agreement between Subsidiary Transferor and
                                         Subsidiary Purchaser transferring 100% of the equity interests in HoldCo.

 

    9

    

    

 

APPENDIX
B-2:

 

Additional
Closing Deliverables of purchaser

 

Copies or originals
of the following documents, each dated as of or prior to the Closing Date:

 

		1.	A
                                         properly executed Assignment and Assumption Agreement between Subsidiary Transferor and
                                         Subsidiary Purchaser transferring 100% of the equity interests in HoldCo.

 

    10

    

    

 

APPENDIX
B-3:

 

Additional
Conditions Precedent to 

Each
Party’s Obligations to Close

 

		1.	Receipt of the required Governmental
                                         Approvals (excluding the post-closing items) identified in Part VII of Appendix
                                         B.

 

		2.	The Project Company shall have
                                         negotiated the final, execution version of the Tsugaru Credit Agreement (or a replacement
                                         financing with institutional lenders) substantially on the terms of such draft; provided
                                         that any material changes from the Tsugaru Credit Agreement shall require the mutual
                                         approval of Purchaser and Seller, each acting reasonably and in good faith. The proposed
                                         lenders thereto shall be ready and willing to execute and deliver such financing.

 

		3.	Neither Purchaser or Seller
                                         shall have obligation to consummate the Closing if, after the date hereof and prior to
                                         the Closing, Seller or an Affiliate thereof has made equity capital contributions to,
                                         including payments on behalf of, HoldCo or any of its Subsidiaries (other than GPI),
                                         and the Financial Model, after giving effect to the Purchase Price Adjustment corresponding
                                         to such additional equity capital contributions set forth in Part I of Appendix B, would
                                         result in a negative Purchase Price.

 

		4.	The Subsidiary Purchaser shall
                                         have negotiated the final, execution version of an equity back leverage loan (the “EBL”)
                                         in form and substance reasonably satisfactory to Purchase, and proposed lenders thereunder
                                         shall be ready and willing to execute and deliver such financing.

 

    11

    

    

 

appendix
B-4:

 

ADDITIONAL
CONDITIONS PRECEDENT TO 

PURCHASER’S
OBLIGATIONS TO CLOSE

 

		1.	The
                                         closing under the Tsugaru GPI PSA shall occur immediately prior to the Closing hereunder.

 

    12

    

    

 

appendix
B-5:

 

Additional
Conditions Precedent to 

SELLER’S
Obligations to Close

 

None.

 

    13

    

    

 

appendix
C: Acquired Interests; Ownership Structure; 

and
Project Information

 

	TSUGARU
    TRANSACTION – LP1
	I.Acquired
    Interests & Ownership Structure
	Project
    Company:	Green
    Power Tsugaru GK, a Japanese godo kaisha
	Holding
    Company (“HoldCo”):	Tsugaru
    Holdings LLC, a Delaware limited liability company
	Subsidiaries
    of HoldCo	Project
    Company
	Subsidiaries
    of Project Company	None
	Subsidiary
    Purchaser	Green
Power Tsugaru Holdings GK, a Japanese godo kaisha.

        Immediately
prior to Closing under this Agreement, Purchaser will cause its Subsidiary, Pattern US Finance Company LLC, a Delaware limited
liability company, to purchase 100% of the membership interests in Green Power Tsugaru Holdings GK from the selling entity pursuant
to the Tsugaru GPI PSA

	Subsidiary
    Transferor	Pattern
    Development Japan Holdings LLC, a Delaware limited liability company
	Percentage
    of Project Company Acquired by Purchaser:	95.00%
    
	Percentage
    Retained by Seller:	0.00%

         

	Acquired
    Interests:	100%
    of Seller’s membership interests in HoldCo (the “Acquired Interests”).

 

    14

    

    

 

	Direct
    or Indirect Co-Owners of Project Company:	Structure
        Immediately Prior to the Closing

         

        

         

 

    15

    

    

 

	Direct
    or Indirect Co-Owners of Project Company (cont.):	Structure
        Immediately Following the Closing

         

        

         

	II.Project
    Information
	Project:	Nameplate
capacity: 121.6 MW

        Location:
Aomori Prefecture, Japan

        Wind turbine
type and manufacturer: General Electric 3.2-103

	Commercial
    Operation Date of Project:	 Mid-2020 (estimate)

 

    16

    

    

 

	Permits
    & Governmental Approvals:	See
    attached Appendix C-1.
	Legal
    description of Project site (i.e., real property description):	See
    attached Appendix C-2.

 

    17

    

    

 

APPENDIX
C-1: PERMITS & GOVERNMENTAL APPROVALS

PERMITS

 

	 	Document
	1.	Environmental
Impact Assessment Act and Prefecture Ordinance:

        (a)
Submission and public notice of environmental impact assessment report (hyoukasho);

        (b)
Receipt of confirmatory notice from METI (kakutei tsuchi); and

        (c)
Submission of notice of commencement of construction works to Aomori prefecture (chakko todoke).

	2.	FIT
Law:

        (a) Approval
(setsubi nintei) by Minister of Economy, Trade and Industry of Japan.

        (b) Notice
regarding Deemed FIT Business Plan Approval (minashi nintei ikou tetsuzuki kanryo no oshirase)

	3.	Forest
Act:

        (a)
Permit for activities in protecting forest (hoanrin nai sagyou kyoka) by the chief of Northwest Branch Office of Aomori
Prefecture.

        (b)
Notification of felling in forest (bassai todoke) to the Mayor of Tsugaru City.

	4.	Non-Legal
Public Property Management Regulations:

        Permits
for use of non-legal public properties (houtei-gai koukyoubutsu shiyou kyoka) from the following municipalities:

        (a)
Tsugaru City

        (b)
Tsuruta Town

	5.	Soil
Contamination Countermeasures Act:

        Notifications
to and acceptances by Aomori Prefecture regarding changes to land character.

	6.	Factory
Location Act:

        (a)
Notification related to new construction of designated factories and application for shortening of the restricted period to the
Mayor of Tsugaru City.

        (b) Permit
for shortening the restricted period by the Mayor of Tsugaru City.

	7.	Construction
Waste Recycling Act:

        Notification
of demolition and new construction work of a certain scale to Aomori Prefecture.

	8.	Act
on Promoting Generation of Electricity from Renewable Energy Sources Harmonized with Sound Development of Agriculture, Forestry
and Fisheries:

        Application
to and approval by the Mayor of Tsugaru City for the facility construction plan (setsubi seibi keikaku).

	9.	Agricultural
Land Act:

        Permits
for temporary conversion of agricultural lands by the governor of Aomori Prefecture.

	10.	Act
on Establishment of Agricultural Promotion Regions:

        Permit
to change the area of Agricultural Promotion Area.

	11.	Aomori
Prefecture Landscape Ordinance

        Notification
to and acceptance notice by the Governor of Aomori Prefecture for a large-scale development.

 

    18

    

    

 

	12.	Road
Act:

        (a)
Road occupancy permission from the following municipalities:

        (i)
Tsugaru City

        (ii)
Aomori Prefecture

        (iii)
Tsuruta Town

        (b)
Approval for road construction (douro kouji sekou shounin) by the following municipalities:

        (i)
Tsugaru City

        (ii)
Aomori Prefecture

        (iii)
Tsuruta Town

	13.	Tsugaru
City Financial Regulations:

        Permit
for use of administrative assets by the Mayor of Tsugaru City.

	14.	Cultural
Assets Preservation Act:

        Notifications
of digging to the Tsugaru City Board of Education.

	15.	River
Act:

        River crossing
permits for Iwaki-gawa River (a national river) and Yamada-gawa River (a prefectural river) (currently under application).

	16.	Electricity
Business Act:

        (a)
 Submission of Project Safety Conditions (hoan kitei) to the manager of Kanto Tohoku Industrial Safety and Inspection Department.

        (b)
 Notifications of construction plan (kouji keikaku no todokede) to the manager of Kanto Tohoku Industrial Safety and Inspection
Department.

        (c)
 Notification of appointment of chief electrical engineer (denki shunin gijutsusha sen-nin no todokede) to the manager of
Kanto Tohoku Industrial Safety and Inspection Department.

        (d)
 Filing of power producer (hatsuden jigyousha) to the chief of Tohoku Bureau of Economy, Trade and Industry.

        (e)
 Notification of supply plan (kyoukyu keikaku todokede) to the Minister of Economy, Trade and Industry of Japan.

	17.	Wire
Telecommunications Act:

        Notification
of installation of wire telecommunications equipment to the Minister of the Internal Affairs and Communications.

	18.	Industrial
Safety and Health Act:

        Notification
of construction plan to Goshogawara Labor Standards Supervision Office.

 

    19

    

    

 

	19.	Land
Improvement Act:

        Permits
for use of land improvement assets (tochi kairyou zaisan) from the following Land Improvement Districts and municipalities:

        (a)
Byobusan Land Improvement District

        (b)
Nishi Tsugaru Land Improvement District

        (c)
Aomori Prefecture

        (d)
Edagawa Tsuruta Land Improvement District

        (e)
Goshogawara Hokubu Land Improvement District

	20.	Road
Traffic Act:

        Road use permission.

 

    20

    

    

 

APPENDIX
C-2: LEGAL DESCRIPTION OF PROJECT SITE

 

The
real estate documents listed in Article V (Real Estate Documents) of Appendix D (Documents & Key Counterparties)
are incorporated herein by reference.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    21

    

    

 

APPENDIX
D: Documents & Key Counterparties1

 

	Tsugaru
    Transaction
	I.Material
    Project Agreements & Key Counterparties
	Contract
    for the Sale of Power Generation Equipment and Related Services	Date:
October 19, 2017

        General Electric
International Inc.

	Balance
    of Plant Contract for Tsugaru Wind Farm	Date:
July 10, 2017

        Kajima Corporation
Tohoku Branch

	Limited
    Notice to Proceed No. 1	Date:
December 1, 2016

        Kajima Corporation
Tohoku Branch

	Limited
    Notice to Proceed No. 2	Date:
April 5, 2017

        Kajima Corporation
Tohoku Branch

	Limited
    Notice to Proceed No. 3	Date:
June 1, 2017

        Kajima Corporation
Tohoku Branch

	Limited
    Notice to Proceed No. 4	Date:
June 1, 2017 (as amended)

        Kajima Corporation
Tohoku Branch

	Scope
    Change Order No. 1 to Limited Notice to Proceed No. 1, 2 and 3	Date:
August 9, 2017

        Kajima Corporation
Tohoku Branch

	Limited
    Notice to Proceed No. 5	Date:
September 1, 2017

        Kajima Corporation
Tohoku Branch

	Limited
    Notice to Proceed No. 6	Date:
October 16, 2017 (as amended)

        Kajima Corporation
Tohoku Branch

	Agreement
    (for construction of transmission line)	Date:
December 27, 2017

        East Japan
Railway Company

	Full
    Service Agreement	Date:
October 19, 2017

        General Electric
International, Inc. (Japan Branch)

	Management,
    Operation, and Maintenance Services Agreement	Date:
To be executed in conjunction with the project financing

        Green Power
Operation GK

	Project
    Administration Agreement	Date:
To be executed in conjunction with the project financing

        Green Power
Operation GK

	General
    Electric Company Parent Guaranty Agreement - Turbine Supply Agreement	Date:
February 1, 2018

        General Electric
International Inc.

	General
    Electric Company Parent Guaranty Agreement - Full Service Agreement	Date:
February 1, 2018

        General Electric
International Inc.

	Insurance
    Policy (DSU)	Date:
February 7, 2018

        Swiss
Re International SE, Japan Branch

	Insurance
    Policy (EAR)	Date:
February 7, 2018

        Swiss
Re International SE, Japan Branch

	Power
    Purchase Agreement	Date:
March 31, 2017(amended on January 26, 2018)

        Tohoku
Electric Power Company

	Notice
    of Interconnection, Invoice for Contribution in Aid of Construction Cost	Date:
December 27, 2017

        Tohoku
Electric Power Company

 

1
Certain documents and agreements listed in Appendix D have not been executed
and are in form substantially consistent with the terms described to Purchaser on or prior to the date hereof.

 

    22

    

    

 

	II.Reports,
    Other Deliverables and Consultants
	Independent
    Engineer:	Mott
    MacDonald Japan KK
	Independent
    Engineer’s Report:	Tsugaru
    Wind Farm Lenders’ Technical Advisor Final Report, dated September 23, 2017
	Insurance
    Consultant:	JLT
    Japan Limited
	Insurance
    Consultant’s Report:	Tsugaru
    Wind Farm Insurance Advisory Report, dated February 5, 2018
	Independent
    Financial Model Advisor:	Tokyo
    Kyodo Accounting Office
	Independent
    Financial Model Advisor’s
    Report:	Draft
    Report on the Results of the Agreed Procedure regarding Wind Power Project, dated February 8, 2018
	Wind
    Consultant:	DNV
    GL AS Japan Branch
	Wind
    Consultant’s Report:	Report
    Ref. 195057-JPYO-R-01-E, dated October 20, 2017
	III.Financing
    Arrangements & Key Counterparties
	Tsugaru
    Credit Agreement	Under
    negotiation with lenders.
	IV.Equity
    and Co-Ownership Arrangements & Key Counterparties
	Members’
    Agreement	Date:
May 27, 2014

        Green
Power Tsugaru Holdings GK and Tsugaru Holdings LLC

	Amendment
    to Members’ Agreement	Date:
January 31, 2018

        Green
Power Tsugaru Holdings GK and Tsugaru Holdings LLC

	Contribution
    Agreement	None
	Development
    Fee Agreement	Date:
November 21, 2017

        Green
Power Tsugaru GK, Green Power Investment Corporation, Green Power Tsugaru Holdings GK and Tsugaru Holdings LLC

	GPI
    Development Service Agreement 	Date:
May 27, 2014

        Green
Power Tsugaru GK and Green Power Investment Corporation

	GPI
    Development Service Agreement amendment	March
31, 2016

        Green
Power Tsugaru GK and Green Power Investment Corporation

	PEGLP
    Development Service Agreement 	Date:
May 27, 2014

        Green
Power Tsugaru GK and Pattern Development Japan GK

	PEGLP
    Development Service Agreement amendment	Date:
March 31, 2016

        Green
Power Tsugaru GK and Pattern Development Japan GK

	PEGLP
    Development Loan Agreement 	May
27, 2014

        Green
Power Tsugaru GK and Tsugaru Holdings LLC

	V.Real
    Estate Documents 
	Real
    Property Agreement	Land
    Plots
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 29, 2017 by and between Go Sasaki and Green Power Tsugaru
    GK	Washinosawa
    443-2, 443-1
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 18, 2017 by and between Hitoshi Kudo and Green Power Tsugaru
    GK	Washinosawa
    444-1, 444-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 29, 2017 by and between Go Sasaki and Green Power
    Tsugaru GK	Washinosawa
    443-2; 443-1
	 	 	 

    23

    

    

 

	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 18, 2017 by and between Hitoshi Kudo and Green Power
    Tsugaru GK	Washinosawa
    444-2; 444-1, 445, 446
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 18, 2017 by and between Manabu Narumi and Green Power
    Tsugaru GK	Washinosawa
    440-1, 440-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Haruo Narumi and Green Power Tsugaru
    GK	Washinosawa
    439
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 18, 2017 by and between Manabu Narumi and Green
    Power Tsugaru GK	Washinosawa
    440-2; 440-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Haruo Narumi and Green Power Tsugaru GK	Washinosawa
    439
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 20, 2017 by and between Fusashi Kudo and Green Power Tsugaru GK	Washinosawa
    430
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 11, 2017 by and between Yukiko Hirayama and Green
    Power Tsugaru GK	Washinosawa
    436-1, 436-2, 437
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 18, 2017 by and between Tokio Kudo and Green Power Tsugaru
    GK	Washinosawa
    438
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 19, 2017 by and between Yukiko Hirayama and Green
    Power Tsugaru GK	Washinosawa
    436-2; 436-1, 437
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 18, 2017 by and between Hideo Narumi and Green Power Tsugaru GK	Washinosawa
    433
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 4, 2017 by and between Takeyoshi Kudo and Green Power Tsugaru GK	Washinosawa
    432
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Kyoichi Kudo and Green Power Tsugaru
    GK	Washinosawa
    605-1, 605-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Kazuichi Kudo and Green Power
    Tsugaru GK	Washinosawa
    606
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 25, 2017 by and between Kyoichi Kudo and Green Power
    Tsugaru GK	Washinosawa
    605-2; 605-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Tsuyoshi Kudo and Green Power Tsugaru GK	Washinosawa
    604
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Kazuichi Kudo and Green Power Tsugaru GK	Washinosawa
    606
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Kazuichi Kudo and Green Power
    Tsugaru GK	Washinosawa
    600-1, 600-2, 601-1, 601-2

 

    24

    

    

 

	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 19, 2017 by and between Kazuichi Kudo and Green
    Power Tsugaru GK	Washinosawa
    600-2, 601-2; 600-1, 601-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Hideo Kudo and Green Power Tsugaru GK	Washinosawa
    599
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 2, 2017 by and between Masami Kudo and Green Power Tsugaru
    GK	Washinosawa
    596-1, 596-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 4, 2017 by and between Hideyuki Sonoda and Green Power
    Tsugaru GK	Washinosawa
    597
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 2, 2017 by and between Masami Kudo and Green Power
    Tsugaru GK	Washinosawa
    596-2; 596-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 4, 2017 by and between Hideyuki Sonoda and Green Power Tsugaru GK	Washinosawa
    597
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 4, 2017 by and between Masanori Otaka and Green Power Tsugaru GK	Washinosawa
    595
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 7, 2017 by and between Futoshi Sato and Green Power Tsugaru
    GK	Washinosawa
    189-1, 189-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 7, 2017 by and between Futoshi Sato and Green Power
    Tsugaru GK	Washinosawa
    189-2; 189-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Yukimori Ito and Green Power Tsugaru GK	Washinosawa
    186
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Ikuo Matsuhashi and Green Power Tsugaru GK	Washinosawa
    185-1, 185-2
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 18, 2017 by and between Chikara Era and Green Power Tsugaru GK	Washinosawa
    191
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 4, 2017 by and between Koichi Sato and Green Power Tsugaru
    GK	Washinosawa
    184-4, 184-8
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 11, 2017 by and between Ikuo Matsuhashi and Green Power
    Tsugaru GK	Washinosawa
    184-3
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 4, 2017 by and between Koichi Sato and Green Power
    Tsugaru GK	Washinosawa
    184-8; 184-4
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Ikuo Matsuhashi and Green Power Tsugaru GK	Washinosawa
    184-3
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of August 21, 2017 by and between Koichi Sato and Green
    Power Tsugaru GK	Washinosawa
    184-4

 

    25

    

    

 

	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 19, 2017 by and between Ikuo Matsuhashi and Green Power Tsugaru
    GK	Washinosawa
    184-3
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Susumu Narumi and Green Power
    Tsugaru GK	Washinosawa
    500, 501-1, 501-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 25, 2017 by and between Susumu Narumi and Green
    Power Tsugaru GK	Washinosawa
    501-2; 500, 501-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Yuzo Noro and Green Power Tsugaru GK	Washinosawa
    502
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Kazuo Kudo and Green Power Tsugaru
    GK	Washinosawa
    486-1, 486-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Ryoko Sakamoto and Green Power
    Tsugaru GK	Washinosawa
    485
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 19, 2017 by and between Kazuo Kudo and Green Power
    Tsugaru GK	Washinosawa
    486-2; 486-1, 487
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Ryoko Sakamoto and Green Power Tsugaru GK	Washinosawa
    485
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Tomoko Kudo and Green Power Tsugaru
    GK	Washinosawa
    638-1, 638-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Kenichi Sasaki and Green Power
    Tsugaru GK	Washinosawa
    639
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 19, 2017 by and between Tomoko Kudo and Green Power
    Tsugaru GK	Washinosawa
    638-2; 638-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Kenichi Sasaki and Green Power Tsugaru GK	Washinosawa
    639
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 18, 2017 by and between Chikara Era and Green Power Tsugaru GK	Washinosawa
    637
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Kazuhiro Narumi and Green Power
    Tsugaru GK	Washinosawa
    630-1, 630-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Takeshi Kudo and Green Power Tsugaru
    GK	Washinosawa
    629
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 25, 2017 by and between Kazuhiro Narumi and Green
    Power Tsugaru GK	Washinosawa
    630-2; 630-1, 631
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Takeshi Kudo and Green Power Tsugaru GK	Washinosawa
    629

 

    26

    

    

 

	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of August 21, 2017 by and between Kazuhiro Narumi and
    Green Power Tsugaru GK	Washinosawa
    630-1, 631
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 13, 2017 by and between Fumio Kudo and Green Power Tsugaru
    GK	Washinosawa
    218-1, 218-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 18, 2017 by and between Shigeru Oyama and Green Power
    Tsugaru GK	Washinosawa
    219
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 13, 2017 by and between Fumio Kudo and Green Power
    Tsugaru GK	Washinosawa
    218-2; 218-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 18, 2017 by and between Shigeru Oyama and Green Power Tsugaru GK	Washinosawa
    219
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 7, 2017 by and between Yuji Kajiura and Green Power Tsugaru
    GK	Washinosawa
    214-1, 214-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 7, 2017 by and between Yuji Kajiura and Green Power
    Tsugaru GK	Washinosawa
    214-2; 214-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Ryoichi Sato and Green Power Tsugaru GK	Washinosawa
    215
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 7, 2017 by and between Kousei Sato and Green Power Tsugaru
    GK	Washinosawa
    209-1, 209-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 7, 2017 by and between Kousei Sato and Green Power
    Tsugaru GK	Washinosawa
    209-2; 209-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Kenji Ono and Green Power Tsugaru GK	Washinosawa
    196
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 21, 2017 by and between Norimasa Masuda and Green Power
    Tsugaru GK	Washinosawa
    536-1, 536-2, 537
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 21, 2017 by and between Norimasa Masuda and Green
    Power Tsugaru GK	Washinosawa
    536-2, 536-1, 537
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of December 27, 2017 by and between  Ushigata Neighborhood Association
    and Green Power Tsugaru GK	Washinosawa
    180-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 22, 2017 by and between Norimasa Masuda and Green Power Tsugaru
    GK	Washinosawa
    536-1
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 18, 2017 by and between Tokiharu Sasaki and Green Power
    Tsugaru GK	Washinosawa
    525-1, 525-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 18, 2017 by and between Tokiharu Sasaki and Green
    Power Tsugaru GK	Washinosawa
    525-2; 525-1, 526

 

    27

    

    

 

	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 18, 2017 by and between Toko Kanazawa and Green Power Tsugaru GK	Washinosawa
    524
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Tetsuo Sasaki and Green Power
    Tsugaru GK	Washinosawa
    660-1, 660-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Katsuo Sasaki and Green Power
    Tsugaru GK	Washinosawa
    659
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 19, 2017 by and between Tetsuo Sasaki and Green
    Power Tsugaru GK	Washinosawa
    660-2; 660-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Katsuo Sasaki and Green Power Tsugaru GK	Washinosawa
    659
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Shinya Sasaki and Green Power Tsugaru GK	Washinosawa
    551
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of December 27, 2017 by and between Ushigata Neighborhood Association and
    Green Power Tsugaru GK	Washinosawa
    181-2, 128-3, 129-52
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of December 4, 2017 by and between Shimo Ushigata Neighborhood
    Association and Green Power Tsugaru GK	Washinosawa
    182-1, 182-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of December 4, 2017 by and between Shimo Ushigata Neighborhood
    Association and Green Power Tsugaru GK	Washinosawa
    182-2; 182-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 6, 2017 by and between Hitoshi Mitsuhashi and Green Power Tsugaru
    GK	Washinosawa
    656
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 6, 2017 by and between Ikuo Kudo and Green Power Tsugaru GK	Washinosawa
    667
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 19, 2017 by and between Seiichi Era and Green Power Tsugaru
    GK	Washinosawa
    254-1, 254-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 19, 2017 by and between Seiichi Era and Green Power
    Tsugaru GK	Washinosawa
    254-2;  253, 254-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Ikuo Matsuhashi and Green Power Tsugaru GK	Washinosawa
    262
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 21, 2017 by and between Yatsue Masuda and Green Power
    Tsugaru GK	Washinosawa
    246-1, 246-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Eiichi Kudo and Green Power Tsugaru
    GK	Washinosawa
    245-1, 245-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 21, 2017 by and between Yatsue Masuda and Green
    Power Tsugaru GK	Washinosawa
    246-2;  246-1

 

    28

    

    

 

	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 25, 2017 by and between Eiichi Kudo and Green Power
    Tsugaru GK	Washinosawa
    245-2; 245-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 19, 2017 by and between Takeshi Kudo and Green Power Tsugaru GK	Washinosawa
    247
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Tsuyoshi Sasaki and Green Power Tsugaru GK	Washinosawa
    249
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of December 21, 2017 by and between Yatsue Masuda and Green Power Tsugaru
    GK	Washinosawa
    246-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of December 18, 2017 by and between Eiichi Kudo and Green Power Tsugaru GK	Washinosawa
    245-1
	Tateoka
    Property Ward Property Lease Agreement (Tateoka zaisanku-yu- zaisan chintaishaku keiyakusho) dated as of November 30, 2017
    by and between Tateoka Property Ward and Green Power Tsugaru GK	Kamisawabe
    141-12
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 13, 2017 by and between Katsuhiro Kudo and Green Power
    Tsugaru GK	Kamisawabe
    177, 178-1, 178-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Matsuko Miura and Green Power
    Tsugaru GK	Kamisawabe
    176
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 13, 2017 by and between Katsuhiro Kudo and Green
    Power Tsugaru GK	Kamisawabe
    178-2; Kamisawabe 178-1, 177
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 6, 2017 by and between SK Farm KK and Green Power Tsugaru GK	Kamisawabe
    179
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Matsuko Miura and Green Power Tsugaru GK	Kamisawabe
    176
	Tateoka
    Property Ward Property Lease Agreement (Tateoka zaisanku-yu-zaisan chintaishaku keiyakusho) dated as of November 30, 2017
    by and between Tateoka Property Ward and Green Power Tsugaru GK	Kamisawabe
    142-24
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 11, 2017 by and between Hisashi Noro and Green Power
    Tsugaru GK	Kamisawabe
    142-185, 142-48
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 13, 2017 by and between Shozo Echigodani and Green Power
    Tsugaru GK	Kamisawabe
    142-45, 142-46, 142-47, 142-182
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of September 11, 2017 by and between Hisashi Noro and Green
    Power Tsugaru GK	Kamisawabe
    142-185; Kamisawabe 142-48
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of June 13, 2017 by and between Shozo Echigodani and Green Power Tsugaru
    GK	Kamisawabe
    142-46, 142-47, 142-53

 

    29

    

    

 

	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of September 11, 2017 by and between Hisashi Noro and
    Green Power Tsugaru GK	Kamisawabe
    142-48
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 29, 2017 by and between Hidemaro Noro and Green Power
    Tsugaru GK	Kamisawabe
    153-1, 153-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 11, 2017 by and between Nobu Sato and Green Power
    Tsugaru GK	Kamisawabe
    154-1, 154-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 29, 2017 by and between Hidemaro Noro and Green
    Power Tsugaru GK	Kamisawabe
    153-2; Kamisawabe 153-1
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 13, 2017 by and between Nobu Sato and Green Power
    Tsugaru GK	Kamisawabe
    154-2; Kamisawabe 154-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 19, 2017 by and between Katsuji Sato and Green Power Tsugaru
    GK	Kamisawabe
    142-15
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Setsuo Noro and Green Power Tsugaru GK	Kamisawabe
    142-107
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Tsumie Noro and Green Power Tsugaru GK	Kamisawabe
    142-13, 142-111
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Kyokichi Tonuma and Green Power Tsugaru GK	Kamisawabe
    142-12, 142-14, 142-109, 142-113
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Shingo Kannari and Green Power Tsugaru GK	Kamisawabe
    155
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Mayumi Noro and Green Power Tsugaru GK	Nozaki
    3-5
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of June 21, 2017 by and between Akihito Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    190-1, 190-2, 191
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of June 21, 2017 by and between Akihito Niioka and Green
    Power Tsugaru GK	Kijimorionuma
    190-2; Kirjimorionuma 188-1, 188-2, 189, 190-1, 191
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 7, 2017 by and between Eichi Mikami and Green Power Tsugaru GK	Kijimorionuma
    197, 198
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 4, 2017 by and between Tomoharu Niioka and Green Power Tsugaru GK	Kijimorionuma
    196
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 11, 2017 by and between Yuji Sato and Green Power Tsugaru GK	Kijimorionuma
    48
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Sumie Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    227, 228-1, 228-3

 

    30

    

    

 

	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 2, 2017 by and between Sumie Niioka and Green
    Power Tsugaru GK	Kijimorionuma
    228-3; 227, 228-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 15, 2017 by and between Ryo Niioka and Green Power Tsugaru GK	Kijimorionuma
    209-1, 209-2, 209-3
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 19, 2017 by and between Sumie Niioka and Green Power Tsugaru
    GK	Kijimorionuma
    228-1, 227
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Tetsumi Nagauchi and Green Power
    Tsugaru GK	Kijimoridaira
    113-1, 113-2, 113-6, 113-3, 113-5
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 8, 2017 by and between Kimue Nagauchi and Green Power
    Tsugaru GK	Kijimorionuma
    244-1, 244-2
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 2, 2017 by and between Tetsumi Nagauchi and Green
    Power Tsugaru GK	Kijimoridaira
    113-6; 113-1, 113-2, 113-3, 113-5
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 8, 2017 by and between between Kinue Nagauchi and Green Power
    Tsugaru GK	Kijimoridaira
    134-17, Kijimorionuma 244-1, 244-2
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of September 22, 2017 by and between Tetsumi Nagauchi
    and Green Power Tsugaru GK	Kijimoridaira  113-5
	Agreement
    to blades in airspace above irrigation channels (yoakusuiro tou joku ni hane ga kakaru kotoni kansuru doui) dated as of July
    20, 2017 by and between the Dekishima Hojo Seibi Kumiai and Green Power Tsugaru GK	T32:
    Kijimorionuma 467, 468, 471, 472; T33: Kijimorionuma 471, 483, 485
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 7, 2017 by and between Akimitsu Niioka and Green
    Power Tsugaru GK	Kijimorionuma
    288-1, 288-2, 289
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of September 7, 2017 by and between Akimitsu Niioka and
    Green Power Tsugaru GK	Kijimorionuma
    288-2; Kijimorionuma 288-1, 289
	Lease
    Agreement (tsugaru-shi dekishima zaisankuyu zaisan chintaishaku keiyakusho) dated as of December 28, 2017 by and between Tsugaru-shi
    Dekishima Property Ward and Green Power Tsugaru GK	Kijimorionuma
    146-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 7, 2017 by and between Akimitsu Niioka and Green Power Tsugaru
    GK	Kijimorionuma
    288-1
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Saiko Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    327-1, 327-2, 328-1, 328-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Nori Niioka and Green Power Tsugaru
    GK	Kijimorionuma
    326-1, 326-2
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of December 28, 2017 by and between Saiko Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    327-1

 

    31

    

    

 

	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of December 28, 2017 by and between Nori Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    326-1
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 2, 2017 by and between Saiko Niioka and Green
    Power Tsugaru GK	Kijimorionuma
    327-2, 328-2; Kijimorionuma 327-1, 328-1
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 2, 2017 by and between Nori Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    326-2; Kijimorionuma 326-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 29, 2017 by and between Hiroki Niioka and Green Power Tsugaru GK	Kijimoridaira
    144-2
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 21, 2017 by and between Takeharu Saito and Green Power Tsugaru
    GK	Kijimorionuma
    339, 340, 341
	Lease
    Agreement (tsugaru-shi dekishima zaisankuyu zaisan chintaishaku keiyakusho) dated as of December 28, 2017 by and between Tsugaru-shi
    Dekishima Property Ward and Green Power Tsugaru GK	Kijimorionuma
    146-66
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Toyozou Kimura and Green Power
    Tsugaru GK	Kijimoridaira
    188-1, 188-3
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 11, 2017 by and between Takasue Nagauchi and Green Power
    Tsugaru GK	Kijimoridaira
    189-1, 189-3
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 4, 2017 by and between Noriko Niioka and Green Power
    Tsugaru GK	Kijimoridaira
    190-1
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 11, 2017 by and between Hideyuki Niioka and Green
    Power Tsugaru GK	Kijimoridaira
    186
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 2, 2017 by and between Toyozou Kimura and Green
    Power Tsugaru GK	Kijimoridaira
    188-3; Kijimoridaira 188-1
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 11, 2017 by and between Takasue Nagauchi and Green
    Power Tsugaru GK	Kijimoridaira
    189-3; Kijimoridaira 189-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 4, 2017 by and between Noriko Niioka and Green Power Tsugaru GK	Kijimoridaira
    187, 190-1, 190-2
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 11, 2017 by and between Hideyuki Niioka and Green Power Tsugaru
    GK	Kijimoridaira
    186
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Yoshimichi Narita and Green
    Power Tsugaru GK	Miyoshino
    125-51, 125-264, 125-236
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of September 6, 2017 by and between Yoshimichi Narita and
    Green Power Tsugaru GK	Miyoshino
    125-264; Miyoshino 125-51, 125-237
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Keiko Narita and Green Power Tsugaru GK	Miyoshino
    125-50, 125-52

 

    32

    

    

 

	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 29, 2017 by and between Yu Niioka and Green Power Tsugaru GK	Miyoshino
    125-74
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of September 6, 2017 by and between Yoshimichi Narita
    and Green Power Tsugaru GK	Miyoshino
    125-51, 125-236
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 22, 2017 by and between Yoshimichi Narita and Green Power Tsugaru
    GK	Miyoshino
    125-237, 125-51, 125-236
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 21, 2017 by and between Ryoko Hanada and Green Power
    Tsugaru GK	Miyoshino
    125-96, 125-260
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Katsuichi Niioka and Green
    Power Tsugaru GK	Miyoshino
    125-95
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Hironori Tsushima and Green Power
    Tsugaru GK	Miyoshino
    125-97
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 21, 2017 by and between Ryoko Hanada and Green
    Power Tsugaru GK	Miyoshino
    125-260; Miyoshino 125-96
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 6, 2017 by and between Katsuichi Niioka and Green Power Tsugaru
    GK	Miyoshino
    125-95
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Hironori Tsushima and Green Power Tsugaru
    GK	Miyoshino
    125-97
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Keiko Narita and Green Power Tsugaru GK	Miyoshino
    125-54, 125-55
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of August 21, 2017 by and between Ryoko Hanada and Green
    Power Tsugaru GK	Miyoshino
    125-96
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 25, 2017 by and between Fujiyuki Hasegawa and Green Power
    Tsugaru GK	Miyoshino
    75, 125-149, 15-263
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Kako Hasegawa and Green Power
    Tsugaru GK	Miyoshino
    125-150
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of July 25, 2017 by and between Fujiyuki Hasegawa and Green
    Power Tsugaru GK	Miyoshino
    125-263; Miyoshino 125-149
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Sachie Sato and Green Power Tsugaru GK	Miyoshino
    76, 85
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Katsumi Kimura and Green Power Tsugaru GK	Miyoshino
    77
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 25, 2017 by and between Mitsuyuki Hasegawa and Green Power Tsugaru
    GK	Miyoshino
    125-148

 

    33

    

    

 

	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Kako Hasegawa and Green Power Tsugaru GK	Miyoshino
    125-150
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of August 21, 2017 by and between Fujiyuki Hasegawa
    and Green Power Tsugaru GK	Miyoshino
    125-149
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 19, 2017 by and between Shinobu Tamura and Green
    Power Tsugaru GK	Miyoshino
    125-125, 125-261
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of September 29, 2017 by and between Shinobu Tamura and
    Green Power Tsugaru GK	Miyoshino
    125-261; Miyoshino 125-125
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 29, 2017 by and between Satoshi Kimura and Green Power Tsugaru
    GK	Miyoshino
    125-123
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 29, 2017 by and between Toshiko Hasegawa and Green Power Tsugaru
    GK	Miyoshino
    125-111
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of September 19, 2017 by and between Shinobu Tamura
    and Green Power Tsugaru GK	Miyoshino
    125-125
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 19, 2017 by and between Shinobu Tamura and Green Power Tsugaru
    GK	Miyoshino
    125-125
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Yu Niioka and Green Power Tsugaru
    GK	Miyoshino
    125-193, 125-262, 125-190
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of July 31, 2017 by and between Takatoshi Niioka and Green Power
    Tsugaru GK	Miyoshino
    125-192
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of August 29, 2017 by and between Yu Niioka and Green Power
    Tsugaru GK	Miyoshino
    125-262; Miyoshino 125-190, 125-193
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 2, 2017 by and between Motoshi Sato and Green Power Tsugaru GK	Miyoshino
    125-197
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 29, 2017 by and between Shoichi Niioka and Green Power Tsugaru
    GK	Miyoshino
    125-198, 125-199
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of July 31, 2017 by and between Takatoshi Niioka and Green Power Tsugaru
    GK	Miyoshino
    125-192
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of October 5, 2017 by and between Kouji Chida and Green Power Tsugaru GK	Miyoshino
    125-196
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Hiroshi Niioka and Green Power
    Tsugaru GK	Miyoshino
    124-36, 124-93, 124-94
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 15, 2017 by and between Yoshinori Kudo and Green Power
    Tsugaru GK	Miyoshino
    34-1

 

    34

    

    

 

	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 21, 2017 by and between Ryuichi Kimura and Green Power
    Tsugaru GK	Miyoshino
    195
	Superficies
    and Easement Agreement (chijouken tou settei keiyakusho) dated as of September 6, 2017 by and between Hiroshi Niioka and Green
    Power Tsugaru GK	Miyoshino
    124-93; Miyoshino 124-36, 124-37, 124-94
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 15, 2017 by and between Yoshinori Kudo and Green Power Tsugaru
    GK	Miyoshino
    34-1
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 21, 2017 by and between Ryuichi Kimura and Green Power Tsugaru
    GK	Miyoshino
    195
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 4, 2017 by and between Soeji Osanai and Green Power Tsugaru GK	Miyoshino
    66, 192
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of August 4, 2017 by and between Hiroyuki Kimura and Green Power Tsugaru
    GK	Miyoshino
    124-35
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of December 11, 2017 by and between Byobusan Land Improvement Ward and Green
    Power Tsugaru GK	Washinosawa

        T1:
671, 690, 691

        T2:
688

        T3:
684,

        T4:
861, 862

        T5:
854, 855, 856, 857, 858, 859, 860, 861, 862, 916

        T6:
853, 854, 855

        T7:
290, 291, 292, 293, 294, 296, 297, 361

        T8:
282, 283

        T9:
732, 733

        T10:
720, 721

        T11:
906, 907

        T12:
901, 902

        T13:
330, 331, 332

        T14:
324, 330, 331, 336, 338, 339, 361

        T15:
299, 316, 317

        T16:
762, 794, 795, 796, 799

        T17:
771, 772, 773

        T18:
773, 949, 950, T19: 962, 963

        T20:
381, 382, 383, 388, 391, 394, 395

        T21:
373, 374

        T23:
318, 319, 320, 322, 323, 324, 342

	Superficies
    Agreement (chijouken settei keiyakusho) dated as of June 13, 2017 by and between Katsuhiro Kudo and Green Power Tsugaru GK	Wakakusa
    5-1
	Superficies
    Agreement (chijouken settei keiyakusho) dated as of May 26, 2017 by and between Nobuyuki Nara and Green Power Tsugaru GK	Moritacho
    Shimo Aino Noda 11 
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of October 12, 2017 by and between Masaya Suginomori and Green
    Power Tsugaru GK	Moritacho
    Shimo Aino Noda 17

 

    35

    

    

 

	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 11, 2017 by and between Shoji Sakamoto and Green
    Power Tsugaru GK	Kitatsugaru-gun
    Tsuruta-machi Kowamaki Oyanagi 160-1, 161-1
	Easement
    of Access Agreement (tsukou chiekiken tou settei keiyakusho) dated as of October 12, 2017 by and between Masaya Suginomori
    and Green Power Tsugaru GK	Moritacho
    Shimo Aino Noda 17
	Easement
    Agreement (chiekiken settei keiyakusho) dated as of September 11, 2017 by and between Shoji Sakamoto and Green Power Tsugaru
    GK	Kitatsugaru-gun
    Tsuruta-machi Kowamaki Oyanagi 160-1, 161-1
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 4, 2017 by and between Takeyoshi Kudo and Green Power
    Tsugaru GK	Washinosawa
    432
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Teruo Narumi and Green Power
    Tsugaru GK	Washinosawa
    481, 482
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 29, 2017 by and between Tomeharu Ohta and Green Power
    Tsugaru GK	Washinosawa
    495
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 29, 2017 by and between Susumu Narumi and Green Power
    Tsugaru GK	Washinosawa
    494
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 21, 2017 by and between Norimasa Masuda and Green Power
    Tsugaru GK	Washinosawa
    527
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Tokiharu Sasaki and Green
    Power Tsugaru GK	Washinosawa
    526
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Mutsuo Kudo and Green Power
    Tsugaru GK	Washinosawa
    544
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Katsunori Narumi and Green
    Power Tsugaru GK	Washinosawa
    545
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Manabu Narumi and Green Power
    Tsugaru GK	Washinosawa
    627
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Tsunemi Kudo and Green Power
    Tsugaru GK	Washinosawa
    636
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Chikara Era and Green Power
    Tsugaru GK	Washinosawa
    637
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 29, 2017 by and between Kyoichi Kudo and Green Power
    Tsugaru GK	Washinosawa
    644
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 4, 2017 by and between Tsuneaki Kudo and Green Power
    Tsugaru GK	Washinosawa
    258, 259
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Setsuko Kudo and Green Power
    Tsugaru GK	Washinosawa
    666

 

    36

    

    

 

	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 21, 2017 by and between Ryuji Chida and Green Power
    Tsugaru GK	Miyoshino
    125-86, 273-5
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Masaki Kudo and Green Power Tsugaru
    GK	Washinosawa
    206
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 15, 2017 by and between Toshikazu Suto and Green Power
    Tsugaru GK	Washinosawa
    222
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 4, 2017 by and between Shoji Sato and Green Power Tsugaru
    GK	Washinosawa
    226
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Kyokichi Tonuma and Green Power
    Tsugaru GK	Kamisawabe
    142-108
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Setsuo Noro and Green Power
    Tsugaru GK	Kamisawabe
    142-106
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Fumitake Kodate and Green
    Power Tsugaru GK	Kamisawabe
    203
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Keiko Nishikubo and Green Power
    Tsugaru GK	Kamisawabe
    275
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Hidemaro Noro and Green Power
    Tsugaru GK	Kamisawabe
    276
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of September 6, 2017 by and between Tamiharu Noro and Green Power
    Tsugaru GK	Kamisawabe
    136-108, 143-90
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Akio Noro and Green Power Tsugaru
    GK	Miyoshino
    125-134
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 2, 2017 by and between Emi Kimura and Green Power Tsugaru
    GK	Miyoshino
    125-141
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Hiroshi Niioka and Green Power
    Tsugaru GK	Miyoshino
    124-37
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Hiroyuki Niioka and Green Power
    Tsugaru GK	Kijimorionuma
    292
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of August 29, 2017 by and between Kaneharu Narita and Green Power
    Tsugaru GK	Kijimorionuma
    338
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Katsuo Hanada and Green Power
    Tsugaru GK	Miyoshino
    125-185, 125-188
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Yu Hasegawa and Green Power
    Tsugaru GK	Miyoshino
    125-186

 

    37

    

    

 

	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Yoshinori Hasegawa and Green
    Power Tsugaru GK	Miyoshino
    125-187
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Toshiaki Kimura and Green Power
    Tsugaru GK	Miyoshino
    125-189
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Yu Niioka and Green Power Tsugaru
    GK	Miyoshino
    125-190
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Akio Noro and Green Power Tsugaru
    GK	Miyoshino
    125-134
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Seiji Sato and Green Power
    Tsugaru GK	Miyoshino
    125-146
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Fujiyuki Hasegawa and Green
    Power Tsugaru GK	Miyoshino
    125-138
	Lease
    Agreement (tochi no shiyou tou nitsuite no onegai) dated as of November 1, 2017 by and between Shigeru Kimura and Green Power
    Tsugaru GK	Miyoshino
    125-143, 125-142

  

    38

    

    

 

APPENDIX
E: AFFILIATE TRANSACTIONS

 

	1. Management, Operation, and
    Maintenance Services Agreement
	Execution
    Date	To
    be executed in conjunction with the project financing
	Parties	Project
    Company and Green Power Operation GK
	Term	Initial Term: 20 years
        from the date 6 months prior to the Anticipated COD

         

        Project Company may request
        to extend the Term for 5 years or less

         

	Fee	JPY
    70,445,000 as fixed annual fee, plus Reimbursable Expenses and Reimbursable Expenses Fee 
	Payment
    Term	Monthly
    payment in arrears
	Termination	In
    addition to typical causes of termination, the Project Company may terminate the agreement for convenience at any time after
    the end of second year after the COD with 180 days prior written notice by paying the Termination Fee.
	Services	Operation,
    maintenance and management of the Wind Plant

 

	2. Project Administration Agreement
	Execution
    Date	To
    be executed in conjunction with the project financing
	Parties	Project
    Company and Green Power Operation GK
	Term	Initial Term: 20 years
        from the date 6 months prior to the Anticipated COD

         

        Project Company may request
        to extend the Term for 5 years or less

         

	Fee	JPY
    36,415,000 as fixed annual fee, plus Reimbursable Expenses and Reimbursable Expenses Fee 
	Payment
    Term	Monthly
    payment in arrears
	Termination	In
    addition to typical causes of termination, the Project Company may terminate the agreement for convenience at any time after
    the end of second year after the COD with 180 days prior written notice by paying the Termination Fee.
	Services	Administrative
    services of the Project Company and Wind Plant

 

		3.	Project Administration Agreement
                                         to be entered into between Green Power Operation GK and HoldCo upon the execution of
                                         the EBL.

 

		4.	Master Services Agreement to
                                         be entered into between the Project Company and GPI at the closing of the project financing.

 

		5.	Development Fee Agreement between
                                         the Project Company, GPI, HoldCo and Green Power Tsugaru Holdings GK dated as of November
                                         21, 2017.

 

		6.	Development Services Agreement
                                         between the Project Company and Pattern Development Japan GK dated as of May 27, 2014
                                         (as amended on March 31, 2016).

 

		7.	Development Services Agreement
                                         between the Project Company and GPI dated as of May 27, 2014 (as amended on March 31,
                                         2016).

 

		8.	Development Loan Agreement between
                                         the Project Company and Tsugaru Holdings LLC dated as of May 27, 2014.

 

    39

    

    

 

		9.	The intercompany loan between
                                         GPI and Green Power Tsugaru Holdings GK, a Japanese godo kaisha, to be fully paid
                                         off at Closing.

 

    40

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]