Document:

Subordination Agreement - CYRQ ENERGY, Lightning Dock Geothermal, Ormat Nevada

 Exhibit 10.24.2 
 EXECUTION COPY 
  
  

 
 SUBORDINATION AGREEMENT

 Dated as of January 11, 2012 
 among 
 CYRQ ENERGY, INC., 

LIGHTNING DOCK GEOTHERMAL HI-01, LLC, 
 and 
 ORMAT NEVADA INC. 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE 1        DEFINITIONS
	  	 	1	  
			
	 SECTION 1.1
	  	 Definitions
	  	 	1	  
		
	 ARTICLE 2        SUBORDINATION
	  	 	2	  
			
	 SECTION 2.1
	  	 Subordination
	  	 	2	  
			
	 SECTION 2.2
	  	 Priority and Payment Over Upon Insolvency and Dissolution
	  	 	2	  
			
	 SECTION 2.3
	  	 Priority and Payment Over Upon Acceleration of the Subordinated Debt
	  	 	3	  
			
	 SECTION 2.4
	  	 Payments on Subordinated Debt
	  	 	4	  
			
	 SECTION 2.5
	  	 Obligation to Pay Subordinated Debt Not Impaired; Provisions to Define Relative Rights
	  	 	5	  
		
	 ARTICLE 3        IN FURTHERANCE OF SUBORDINATION
	  	 	5	  
			
	 SECTION 3.1
	  	 Restriction on Assignment of Subordinated Debt
	  	 	5	  
			
	 SECTION 3.2
	  	 Reliance on Subordination
	  	 	5	  
			
	 SECTION 3.3
	  	 Actions Against the Company
	  	 	5	  
			
	 SECTION 3.4
	  	 Subrogation
	  	 	6	  
			
	 SECTION 3.5
	  	 Proofs of Claim
	  	 	6	  
			
	 SECTION 3.6
	  	 Certain Proceedings
	  	 	7	  
		
	 ARTICLE 4        MISCELLANEOUS
	  	 	7	  
			
	 SECTION 4.1
	  	 Changes
	  	 	7	  
			
	 SECTION 4.2
	  	 Continued Effectiveness
	  	 	8	  
			
	 SECTION 4.3
	  	 Notices
	  	 	8	  
			
	 SECTION 4.4
	  	 No Waivers
	  	 	9	  
			
	 SECTION 4.5
	  	 Amendments and Waivers
	  	 	9	  
			
	 SECTION 4.6
	  	 Severability
	  	 	9	  
			
	 SECTION 4.7
	  	 Headings
	  	 	10	  
			
	 SECTION 4.8
	  	 Successors and Assigns
	  	 	10	  
			
	 SECTION 4.9
	  	 Governing Law
	  	 	10	  
			
	 SECTION 4.10
	  	 Counterparts; Effectiveness
	  	 	11	  
			
	 SECTION 4.11
	  	 Agents and Attorneys-in-Fact
	  	 	11	  

  
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 SUBORDINATION AGREEMENT 
 This SUBORDINATION AGREEMENT (as amended,
modified or supplemented from time to time, this “Agreement”) dated as of January 11, 2012, is entered into by and among Lightning Dock Geothermal HI-01, LLC, a Delaware limited liability company (the
“Company”), Ormat Nevada Inc., a Delaware corporation (“Ormat”) and Cyrq Energy, Inc., a Delaware corporation (the “Junior Creditor”). 

W I T N E S S E T H: 

WHEREAS, the Company is developing a geothermal power plant in Hidalgo County, New Mexico with a planned generation capacity of
approximately fourteen and seventy five hundredths (14.75) MW (net) (the “Project”); 
 WHEREAS, the
Company and Ormat have entered into that certain Engineering, Procurement and Construction Contract, dated as of November 21, 2011 (the “EPC Contract”), pursuant to which Ormat and the Company have agreed, inter alia,
that Ormat will provide engineering, design, procurement, construction and related services and to supply equipment for the construction of that power plant on a lump-sum, fixed price, turnkey basis, all subject to and in accordance with the terms
and conditions set forth in the EPC Contract; 
 WHEREAS, the Company and Ormat have entered into that certain Credit Agreement,
dated as of November 21, 2011 (the “Credit Agreement”), pursuant to which the Company and Ormat have agreed, inter alia, that the Company will repay the Advance Amount (as defined in the Credit Agreement) to Ormat in
satisfaction of amounts owed by the Company to Ormat pursuant to the EPC Contract, subject to the terms and conditions set forth in the Credit Agreement; 
 WHEREAS, the Junior Creditor wishes to make a subordinated loan to the Company in connection with the costs and expenses associated with the Project; and 

WHEREAS, Ormat has agreed to permit such loan to be made so long as the Junior Creditor and the Company agree to the terms and conditions
set forth in this Agreement. 

  
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 A G R E E M E N T

 NOW THEREFORE, for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Junior Creditor, the Company and Ormat hereby agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 SECTION
1.1 Definitions. 
 All capitalized terms used herein and not otherwise defined herein have the meanings assigned to them in
the Credit Agreement and the principles of construction set forth therein shall apply hereto. The following additional terms, as used herein, have the following meanings: 
 “Senior Debt” shall mean (a) all principal and interest now or hereafter payable by the Company to Ormat on or in respect of the Financing Documents (including any interest accruing
on the Credit Agreement after the filing of a petition initiating any proceeding referred to in Article VII (g) or (h) of the Credit Agreement whether or not such is an allowed claim enforceable against the Company in a bankruptcy case
under Title 11 of the Bankruptcy Code) when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (b) all fees, expenses, indemnities and expense reimbursement obligations of the Company under
the Financing Documents, (c) all other Secured Obligations, monetary or otherwise , or liabilities now or hereafter payable by the Company pursuant to the Credit Agreement or any other Financing Document and (d) all other indebtedness,
obligations and liabilities of the Company to Ormat under the Financing Documents, now existing or hereafter arising, whether or not evidenced by notes or other instruments, and whether such indebtedness, obligations and liabilities are direct or
indirect, fixed or contingent, liquidated or unliquidated, due or to become due, secured or unsecured, joint, several or joint and several, similar or dissimilar to the indebtedness arising out of or in connection with the Credit Agreement or of the
same or a different class of indebtedness as the indebtedness arising out of the Credit Agreement, including loans or advances to the Company after the commencement by or against the Company of a bankruptcy case under Title 11 of the Bankruptcy
Code, any overdrafts in any deposit accounts maintained by the Company including any deposit account maintained pursuant to the Accounts Agreement, together with all renewals, amendments, restatements, modifications, extensions, increases or
rearrangements thereof; and 
 “Subordinated Debt” means all indebtedness of the Company to the Junior Creditor
pursuant to that certain Credit Agreement, dated as of January 11, 2012, by and between the Company and the Junior Creditor, as lender. 
 ARTICLE 2 
 SUBORDINATION 

SECTION 2.1 Subordination. 
 Notwithstanding any provision to the contrary in any instrument governing the Subordinated Debt, the Company, the Junior Creditor and each holder from time to time of the Subordinated Debt by its
acceptance thereof each agrees that all payments of the Subordinated Debt shall be subordinate and subject in right of payment to the prior indefeasible payment in full in cash of all Senior Debt and to any security held or to be held by under the
Financing Documents for the payment of the Senior Debt; provided that payments in respect of the Subordinated Debt may be made under and in accordance with Section 3.01(d) of the Accounts Agreement. 

SECTION 2.2 Priority and Payment Over Upon Insolvency and Dissolution. 
 In the event of (a) any insolvency or bankruptcy case or proceeding or any receivership, liquidation, reorganization or similar case or proceeding in connection therewith relative to the Company or
its creditors as such or to its assets, or (b) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit
of creditors or other marshalling 

  
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of assets and liabilities of the Company, then and in any such event the holders of the Senior Debt shall be entitled to receive payment in full in cash of all amounts due or to become due on or
in respect of all Senior Debt before the holders of the Subordinated Debt shall be entitled to receive and retain any payment on account of the principal, interest or other amounts due or to become due on the Subordinated Debt, and to that end the
holders of the Senior Debt shall be entitled to receive, for application to the payment of the Senior Debt, any payment or distribution of any kind or character, whether in cash, property or securities, including any such payment or distribution
which may be payable or deliverable by reason of the payment of any other indebtedness of the Company which is subordinated to the payment of the Subordinated Debt, which may be payable or deliverable in respect of the Subordinated Debt in any such
case, proceeding, dissolution, liquidation or other winding up or event. Accordingly, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, which would otherwise have been made to the
holders of the Subordinated Debt but for the provisions of this Section 2.2 shall instead be made by the Company or by the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or
distribution of assets of the Company directly to the holders of the Senior Debt for application to the payment of all Senior Debt remaining unpaid to the extent necessary to pay all Senior Debt in full in cash after giving effect to any concurrent
payment or distribution to or for the benefit of the holders of the Senior Debt. 
 If, notwithstanding the foregoing provisions
of this Section 2.2, any holder of the Subordinated Debt shall have received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, including any such payment or distribution
which may be payable or deliverable by reason of the payment of any other indebtedness of the Company which is subordinated to the payment of the Subordinated Debt, before all amounts due (or to become due under the EPC Contract) on or in respect of
all Senior Debt have been indefeasibly paid in full in cash, then and in such event such payment or distribution shall be received in trust for the holders of the Senior Debt and shall be forthwith paid over or delivered by the holder of the
Subordinated Debt receiving the same directly to the holders of the Senior Debt or, to the extent legally required, to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making such payment or
distribution of assets of the Company, for application to the payment of all Senior Debt remaining unpaid to the extent necessary to pay all Senior Debt in full in cash after giving effect to any concurrent payment or distribution to or for the
holders of the Senior Debt. 
 For purposes of this Agreement only, the words “cash, property or securities” shall not
be deemed to include shares of stock of, membership interests, or partnership interests in, the Company as reorganized or readjusted or unsecured debt securities of the Company or any other corporation provided for by a plan of reorganization or
readjustment which are subordinated in right of payment to all Senior Debt which may at the time be outstanding to the same or a greater extent than the Subordinated Debt is subordinated as provided for in this Agreement. 

SECTION 2.3 Priority and Payment Over Upon Acceleration of the Subordinated Debt. 

If any Subordinated Debt is declared due and payable before the date specified therein as the fixed date on which the principal thereof is
due and payable, then and in such event the holders of the Senior Debt shall be entitled to receive indefeasible payment in full in cash of all 

  
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amounts due or to become due on or in respect of the Senior Debt before the holders of the Subordinated Debt shall be entitled to receive and retain any payment (including any such payment which
may be payable by reason of the payment of any other indebtedness of the Company which is subordinated to the payment of the Subordinated Debt) by the Company on account of the principal of, interest on or any other amount due or to become due on
the Subordinated Debt or on account of the purchase or other acquisition of the Subordinated Debt. Accordingly, any payment by the Company of any amount which the holders of the Subordinated Debt would have been entitled to receive and retain but
for the provisions of this Section 2.3 shall instead be made by the Company directly to the holders of the Senior Debt for application to the payment of all Senior Debt remaining unpaid to the extent necessary to pay all Senior Debt in full in
cash after giving effect to any concurrent payment or distribution to or for the holders of the Senior Debt. 
 If,
notwithstanding the foregoing provisions of this Section 2.3, any holder of the Subordinated Debt shall have received any payment, including any payment which may be payable by reason of the payment of any other indebtedness of the Company
which is subordinated to the payment of the Subordinated Debt, before all amounts due on or in respect of the Senior Debt have been paid in full in cash, then and in such event such payment shall be received in trust for the holders of the Senior
Debt and shall be forthwith paid over by the holder of the Subordinated Debt receiving such payment to the holders of the Senior Debt for application to the payment of all Senior Debt remaining unpaid to the extent necessary to pay all Senior Debt
in full in cash after giving effect to any concurrent payment or distribution to or for the holders of the Senior Debt. 
 The
provisions of this Section 2.3 above shall not apply to any payment or distribution with respect to which Section 2.2 would be applicable. 
 SECTION 2.4 Payments on Subordinated Debt. 
 The Junior Creditor and the
Company hereby agree and acknowledge that until the indefeasible payment in full in cash of the Senior Debt, no payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Company which is
subordinated to the payment of the Subordinated Debt) shall be made by the Company on account of the principal of or interest on the Subordinated Debt or on account of the purchase or other acquisition by it of the Subordinated Debt other than as
permitted by the terms of the Accounts Agreement. Any contrary provision of this Agreement notwithstanding, the Company and Ormat acknowledge and agree that any interest relating to the Subordinated Debt that is not paid when due under the
subordinated credit agreement will be capitalized and added to the principal amount of the Subordinated Debt in accordance with the subordinated credit agreement. 
 If, notwithstanding the foregoing provisions of this Section 2.4, the Company shall make any payment or distribution on or with respect to any Subordinated Debt prohibited by the foregoing provisions
of this Section 2.4, then and in every such event such payment or distribution shall be forthwith paid over or delivered by the holders of the Subordinated Debt to Ormat. 

  
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 The provisions of this Section 2.4 shall not apply to any payment with respect of
which Section 2.2 or 2.3 would be applicable. 
 SECTION 2.5 Obligation to Pay Subordinated Debt Not Impaired; Provisions to Define
Relative Rights. 
 Except as provided in this Article 2, the provisions of this Agreement are and are intended solely
for the purpose of defining the relative rights of the holders of the Subordinated Debt on the one hand and the holders of the Senior Debt on the other hand. It is and shall be the intent of the parties that this Agreement shall constitute a present
assignment by the holders of the Subordinated Debt of their rights to receive payments or distributions of cash, property and securities of the Company otherwise payable to the holders of the Subordinated Debt as and to the extent set forth in
Sections 2.2, 2.3 and 2.4. Nothing contained in this Agreement, except as set forth in this Article 2, shall (a) impair or affect, as among the Company, its creditors (other than the holders of the Senior Debt) and the holders of the
Subordinated Debt, the obligation of the Company to pay the holders of the Subordinated Debt the principal of and interest on the Subordinated Debt as of when the same shall become due and payable in accordance with their terms, or (b) affect
the relative rights against the Company of the holders of the Subordinated Debt and the creditors of the Company (other than the holders of the Senior Debt as set forth herein). 

ARTICLE 3 

IN FURTHERANCE OF SUBORDINATION 
 SECTION 3.1 Restriction on Assignment of Subordinated Debt. 
 The Junior
Creditor and each holder of the Subordinated Debt by its acceptance thereof agrees not to sell, assign or transfer all or any part of the Subordinated Debt while any Senior Debt remains unpaid unless such sale, assignment or transfer is made
expressly subject to this Agreement. The Junior Creditor represents that no other subordination of the Subordinated Debt is in existence on the date hereof, and the Junior Creditor agrees that the Subordinated Debt will not be subordinated to any
indebtedness owed to any Person other than Ormat. 
 SECTION 3.2 Reliance on Subordination. 

The Junior Creditor and each holder of the Subordinated Debt by its acceptance thereof consents and agrees that all Senior Debt shall be
deemed to have been made or incurred in reliance upon the subordination of the Subordinated Debt pursuant to this Agreement. 
 SECTION 3.3
Actions Against the Company. 
 No holder of the Subordinated Debt will (a) commence any action or proceeding against
the Company to recover all or any part of such Subordinated Debt or (b) join with any creditor in bringing any proceeding against the Company under Title 11 of the Bankruptcy Code or any other state or federal insolvency statute and until, in
each case, the Senior Debt shall have been indefeasibly paid in full in cash (provided that holders of the Subordinated Debt may so file concurrently with or after the holders of the Senior Debt). The Junior Creditor and each other holder of the
Subordinated Debt will not, except as permitted under the Accounts Agreement, 

  
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ask, demand, sue for, take or receive from the Company, directly or indirectly, in cash, property or securities or other property or by set-off or in any other manner (including, from or by way
of collateral), payment of all or any part of the Subordinated Debt unless and until all Senior Debt shall have been indefeasibly paid in full in cash or the benefits of this sentence waived by or on behalf of the holder or holders of the Senior
Debt. 
 SECTION 3.4 Subrogation. 
 Subject to the indefeasible payment in full in cash of all Senior Debt, the holders of the Subordinated Debt shall be subrogated to the extent of the payments or distributions made to the holders of the
Senior Debt pursuant to the provisions of this Agreement (equally and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company substantially to the extent that the
Subordinated Debt is subordinated hereunder and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until
the principal of and interest on the Subordinated Debt and all other obligations, monetary or otherwise, or liabilities now or hereafter arising related to the Subordinated Debt shall be paid in full in cash. For purposes of such subrogation, no
payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the holders of the Subordinated Debt would be entitled but for the provisions of this Agreement, and no payments over, pursuant to the
provisions of Section 2.2, 2.3 or 2.4, to the holders of the Senior Debt by the holders of the Subordinated Debt shall, as among the Company, its creditors (other than the holders of Senior Debt) and the holders of the Subordinated Debt, be
deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 
 SECTION 3.5 Proofs of Claim. 

The Junior Creditor may file such proofs of claim and other papers or documents or may be necessary or advisable in order to have the
claims of the Junior Creditor allowed in any judicial proceedings relative to the Company (or any other obligor on the Subordinated Debt, including any guarantor), its creditors or its property. If the Junior Creditor files any claim, proof of claim
or similar instrument in any judicial proceeding referred to above and all Senior Debt has not been indefeasibly paid in full in cash, the Junior Creditor shall (a) file such claim, proof of claim or similar instrument on behalf of Ormat as it
or such other holder’s or holders’ interests may appear and (b) take all such other actions as may be appropriate to insure that all payments and distributions made in respect of any such proceedings are made to Ormat as its interests
may appear. 
 Any term or provision of this Section 3.5 to the contrary notwithstanding, if any judicial proceeding
referred to above is commenced by or against the Company, and so long as all Senior Debt has not been paid in full in cash: (a) except in connection with any proceedings arising from claims of the Company against Ormat under the EPC Contract,
Ormat is hereby irrevocably authorized and empowered (in its own name or in the name of the Junior Creditor or otherwise), but shall have no obligation, to demand, sue for, collect and receive every payment or distribution received in respect of any
such proceeding and give acquittance therefor and to file claims and proofs of claims and (b) the Junior Creditor shall duly and promptly take, for the account of Ormat, such reasonable action as Ormat may request (i) to collect all
amounts payable 

  
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by the Company in respect of the Subordinated Debt and to file the appropriate claims or proofs of claim in respect of the Subordinated Debt, (ii) to execute and deliver to Ormat such
assignments or other instruments as Ormat may request in order to enable Ormat to enforce any and all claims with respect to all amounts payable in respect of the Subordinated Debt and (iii) to collect and receive any and all payments with
respect to all amounts payable in respect of the Subordinated Debt. Until the Senior Debt has been paid in full in cash, no holder of the Subordinated Debt will (in any proceeding of the type described in Section 2.2) discharge all or any
portion of the obligations of the Company in respect of the Subordinated Debt, whether by forgiveness, receipt of capital stock, exercise of conversion privileges or otherwise, without the prior consent of the holders of the Senior Debt. 

SECTION 3.6 Certain Proceedings. 
 Each holder of the Subordinated Debt agrees that, as between themselves and the holders of the Senior Debt, the latter shall be deemed to be the “holders” of all claims in respect of the
Subordinated Debt in any proceeding or activity of the type contemplated by clause (a), (b) or (c) of Section 2.2 (each, a “Bankruptcy Proceeding”). To the extent not deemed to be “not in good faith” within
the meaning of 11 U.S.C. Section 1126(e), each holder of the Subordinated Debt agrees to vote to accept a plan of reorganization or dissolution in respect of the Company which the holders of the Senior Debt have accepted or have notified the
holders of the Subordinated Debt of their intent to accept. If such acceptance by the holders of the Subordinated Debt is or might (in the sole judgment of the holders of the Senior Debt) cause the claims of the holders of the Subordinated Debt to
be designated under 11 U.S.C. Section 1126(e), then, each holder of the Subordinated Debt agrees not to vote against a plan of reorganization or dissolution which the holders of the Senior Debt have accepted or have notified the holders of
the Subordinated Debt of their intent to accept. Any such vote for any plan or abstention from voting against any plan pursuant to the immediately two preceding sentences shall be enforceable by the holders of the Senior Debt against the holders of
the Subordinated Debt regardless of whether such plan allows a class subordinated to the claims of the Subordinated Debt to retain an interest in the Company or whether the holders of the Subordinated Debt will receive or retain under such plan on
account of their claims in respect of the Subordinated Debt property having value less than the amount that such holders would receive or retain if the Bankruptcy Proceeding were under Chapter 7 of the federal Bankruptcy Code. 

ARTICLE 4 

MISCELLANEOUS 
 SECTION
4.1 Changes. 
 Ormat may at any time, and from time to time, without the consent of or notice to the Junior Creditor or to
any other holder of the Subordinated Debt, without incurring responsibility to the Junior Creditor or such holder, and without impairing or releasing any of Ormat’s rights, or any of the obligations of the Junior Creditor or other holders of
the Subordinated Debt hereunder: 
 (a) change the time, amount, manner, place or terms of payment, or change or
extend the time of payment of, or renew or otherwise alter, the Credit Agreements or any other Financing Document or any instrument or agreement evidencing any Senior Debt or securing payment thereof or relating to the Senior Debt in any manner;

  
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 (b) sell, exchange, release or otherwise deal with any collateral for
all or any of the Senior Debt (whether or not in a commercially reasonable manner); 
 (c) release anyone liable
in any manner for the payment or collection of any Senior Debt; 
 (d) exercise or refrain from exercising any
rights against the Company or others (including the Junior Creditor); 
 (e) apply any sums received by it, by
whomsoever paid and however realized, to the payment of the Senior Debt in such manner as Ormat, in its sole discretion, shall deem appropriate; and 
 (f) take any other action which might otherwise constitute a defense available to, or a discharge of, the Junior Creditor in respect of the Subordinated Debt in respect of these provisions. 

SECTION 4.2 Continued Effectiveness. 
 The terms of this Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by Ormat
upon the insolvency, bankruptcy or reorganization of the Company or otherwise, all as though such payment had been due but not made at such time. 
 SECTION 4.3 Notices. 
 All notices, requests and other communications
provided for in this Agreement (including any modifications of, or waivers or consents under, this Agreement) shall be (i) in writing (including facsimile) and (ii) sent by facsimile or overnight courier (if for inland delivery) or
international courier (if for overseas delivery) to a party hereto at its address and contact number specified below, or at such other address and contact number as is designated by such party in a written notice to the other parties hereto:

  

			
	If to the Company:	  	
		
		  	 Lightning Dock Geothermal HI-01, LLC
 136 South Main Street, Suite 600
 Salt Lake City, Utah 84101

Attention: Nicholas Goodman
 Fax: (801)
374-3314

  
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	If to Ormat:	  	
		
		  	 Ormat Nevada Inc.
 6225 Neil
Road
 Reno, Nevada 89511-1136
 Attn:
President
 Telephone: (775) 356-9029

Facsimile: (775) 356-9039

		
	If to the Junior Creditor:	  	
		
		  	 Cyrq Energy, Inc.
 136 South
Main Street, Suite 600
 Salt Lake City, Utah 84101
 Attention: John Perry
 Fax: (801) 374-3314

 All notices and communications shall be effective when received by the addressee thereof during business
hours on a Business Day in such Person’s location as indicated by such Person’s address above, or at such other address as is designated by such Person in a written notice to the other parties hereto. 

SECTION 4.4 No Waivers. 

No failure or delay by Ormat in exercising any right, power or privilege hereunder or under the Credit Agreements or any other instrument
evidencing or securing any Secured Obligation 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 4.5 Amendments and
Waivers. 
 The terms of this Agreement may be amended, supplemented, waived or otherwise modified only by an instrument in
writing duly executed by the parties. Any such amendment, supplement, waiver or modification shall be binding upon the parties. Any waiver shall be effective only in the specific instance and for the specified purpose for which it was given.

 SECTION 4.6 Severability 
 If any provision of this Agreement shall be held or deemed to be or shall, in fact, be illegal, inoperative or unenforceable, the same shall not affect any other provision or provisions herein contained
or render the same invalid, inoperative or unenforceable to any extent whatever. 

  
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 SECTION 4.7 Headings 
 The headings of the various articles, sections and paragraphs of this Agreement are for convenience of reference only, do not constitute a part hereof and shall not affect the meaning or construction of
any provision hereof. 
 SECTION 4.8 Successors and Assigns. 
 Subject to Section 3.1, the provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto and their respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 SECTION 4.9 Governing Law; Jurisdiction; Etc. 
 (a) Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York, without regard to principles of conflicts of law thereof that would result
in the application of the laws of any other jurisdiction. It is the intent and purpose of the parties hereto that the provisions of Section 5-1401 of the General Obligations Law of the State of New York shall apply to this Agreement.

 (b) Submission to Jurisdiction. Any legal action or proceeding with respect to this Agreement shall be brought in the
courts of (i) the State of New York in the County of New York, (ii) the United States for the Southern District of New York, (iii) the State of New Mexico in the county of Hidalgo or (iv) the United States for the District of New
Mexico and, by execution and delivery of this Agreement, each party hereto hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each party hereto agrees that a
judgment, after exhaustion of all available appeals, in any such action or proceeding shall be conclusive and binding upon it, and may be enforced in any other jurisdiction, including by a suit upon such judgment, a certified copy of which shall be
conclusive evidence of the judgment. 
 (c) Waiver of Venue. Each party hereto hereby irrevocably waives any objection
that it may now have or hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement brought in the courts of the Supreme Court of the State of New York, County of New York, the United
States District Court for the Southern District of New York, the State of New Mexico in the county of Hidalgo or the United States for the District of New Mexico and hereby further irrevocably waives any claim that any such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum. 
 (d) Service of Process. Each of
Company and Junior Creditor irrevocably appoints CT Corporation System (the “Company/Junior Creditor Process Agent”), with an office on the date hereof at 111 Eighth Avenue, New York, N.Y. 10011 and Ormat irrevocably appoints HIQ
Corporate Services, Inc. (the “Ormat Process Agent”), with an office on the date hereof at One Commerce Plaza, 99 Washington Ave., Suite 805A, Albany, NY 12210-2822, as

  
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its agent and true and lawful attorney-in-fact in its name, place and stead to accept on behalf of such party and its property and revenues service of copies of the summons and complaint and any
other process which may be served in any suit, action or proceeding brought in the State of New York in connection with this Agreement, and each party agrees that the failure of the Company/Junior Creditor Process Agent or Ormat Process Agent, as
applicable, to give any notice of any such service of process to a party shall not impair or affect the validity of such service or, to the extent permitted by applicable law, the enforcement of any judgment based thereon. Each party hereto
irrevocably consents to the service of process in the manner provided for notices in Section 4.3. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

 (e) Waiver of Jury Trial. THE PARTIES HERETO HEREBY EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING,
AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND THE PARTIES HERETO HEREBY AGREE AND CONSENT THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY
FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 SECTION 4.10 Counterparts; Effectiveness. 
 This Agreement may be executed
in any number of counterparts, each of which when so executed and delivered shall be an original, but all the counterparts together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any
such counterpart. This Agreement shall become effective when signed by all of the parties hereto. 
 SECTION 4.11 Agents and
Attorneys-in-Fact 
 Ormat may employ agents and attorneys-in-fact in connection herewith and shall not be responsible for
the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of
the day and year first above written. 
  

					
	THE COMPANY:
	
	LIGHTNING DOCK GEOTHERMAL HI-01, LLC
		
	By:	 	 /s/    Nicholas Goodman

		 	Name:    Nicholas Goodman
		 	Title:      CEO

  

LIGHTNING DOCK SUBORDINATION AGREEMENT 

SIGNATURE PAGE 

			
	ORMAT:
	
	ORMAT NEVADA INC.
		
	By:	 	 /s/    Connie Stechman

		 	Name:    Connie Stechman
		 	Title:      Assistant Secretary

  

LIGHTNING DOCK SUBORDINATION AGREEMENT 

SIGNATURE PAGE 

			
	THE JUNIOR CREDITOR:
	
	CYRQ ENERGY, INC.
		
	By:	 	 /s/ Nicholas Goodman

		 	Name: Nicholas Goodman
		 	Title:   CEO
	
	 136 South Main Street, Suite 600
 Salt Lake City, Utah 84101

  

LIGHTNING DOCK SUBORDINATION AGREEMENT 

SIGNATURE PAGEAccounts Agreement - Lightning Dock Geothermal, Ormat Nevada, Wells Fargo Bank

 Exhibit 10.24.3 

 
  

 
 ACCOUNTS AGREEMENT 

among 
 LIGHTNING
DOCK GEOTHERMAL HI-01, LLC, 
 ORMAT NEVADA INC., 
 and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Depositary 

Dated as of January [    ], 2012 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	  
	 Section 1.01
	  	 Capitalized Terms; Rules of Construction
	  	 	2	  
	 Section 1.02
	  	 Additional Definitions
	  	 	2	  
	 Section 1.03
	  	 Uniform Commercial Code
	  	 	4	  
		
	 ARTICLE II APPOINTMENT OF DEPOSITARY; ESTABLISHMENT OF COLLATERAL ACCOUNTS
	  	 	4	  
	 Section 2.01
	  	 Appointment of Depositary
	  	 	4	  
	 Section 2.02
	  	 Establishment of Collateral Accounts and Sub-Accounts
	  	 	4	  
	 Section 2.03
	  	 Security Interests
	  	 	5	  
	 Section 2.04
	  	 Accounts Maintained as UCC “Securities Accounts”
	  	 	6	  
	 Section 2.05
	  	 Control
	  	 	6	  
	 Section 2.06
	  	 Jurisdiction of Depositary
	  	 	7	  
	 Section 2.07
	  	 Degree of Care; Liens
	  	 	7	  
	 Section 2.08
	  	 Subordination of Lien; Waiver of Set-Off
	  	 	7	  
	 Section 2.09
	  	 No Other Agreements
	  	 	7	  
	 Section 2.10
	  	 Notice of Adverse Claims
	  	 	8	  
	 Section 2.11
	  	 Termination
	  	 	8	  
		
	 ARTICLE III THE COLLATERAL ACCOUNTS
	  	 	8	  
	 Section 3.01
	  	 Revenue Account
	  	 	8	  
	 Section 3.02
	  	 Operating Account
	  	 	10	  
	 Section 3.03
	  	 Prepayment Account
	  	 	10	  
	 Section 3.04
	  	 Proceeds Account
	  	 	11	  
	 Section 3.05
	  	 Reserve Account
	  	 	13	  
	 Section 3.06
	  	 Investment of Accounts
	  	 	13	  
	 Section 3.07
	  	 Disposition of Accounts Upon Termination Date
	  	 	14	  
	 Section 3.08
	  	 Collateral Account Balance Statements
	  	 	14	  
		
	 ARTICLE IV DEPOSITARY
	  	 	14	  
	 Section 4.01
	  	 Powers and Immunities
	  	 	14	  
	 Section 4.02
	  	 Reliance by Depositary
	  	 	15	  
	 Section 4.03
	  	 Court Orders
	  	 	16	  
	 Section 4.04
	  	 Resignation or Removal
	  	 	16	  
		
	 ARTICLE V EXPENSES; INDEMNIFICATION; FEES
	  	 	17	  
	 Section 5.01
	  	 Expenses and Taxes
	  	 	17	  
	 Section 5.02
	  	 Indemnification
	  	 	18	  
	 Section 5.03
	  	 Fees
	  	 	18	  
		
	 ARTICLE VI MISCELLANEOUS
	  	 	18	  
	 Section 6.01
	  	 Amendments; Etc.
	  	 	18	  
	 Section 6.02
	  	 Addresses for Notices
	  	 	18	  

  
 i 

							
	 Section 6.03
	  	 Governing Law
	  	 	19	  
	 Section 6.04
	  	 Headings
	  	 	19	  
	 Section 6.05
	  	 No Third Party Beneficiaries
	  	 	19	  
	 Section 6.06
	  	 No Waiver
	  	 	19	  
	 Section 6.07
	  	 Severability
	  	 	20	  
	 Section 6.08
	  	 Successors and Assigns
	  	 	20	  
	 Section 6.09
	  	 Execution in Counterparts
	  	 	20	  
	 Section 6.10
	  	 Consequential Damages
	  	 	20	  
	 Section 6.11
	  	 Jurisdiction, Etc.
	  	 	20	  
	 Section 6.12
	  	 Process Agent
	  	 	21	  
	 Section 6.13
	  	 Limited Recourse
	  	 	22	  
	 Section 6.14
	  	 U.S.A. Patriot Act
	  	 	22	  
	 Section 6.15
	  	 Force Majeure
	  	 	22	  
		
	 SCHEDULE I TO WITHDRAWAL CERTIFICATE
	  	 	4	  

 APPENDICES AND SCHEDULES 
  

			
	 APPENDIX A -
	 	FORM OF RESTORATION REQUISITION
	 APPENDIX B -
	 	FORM OF WITHDRAWAL CERTIFICATE AND
	 APPENDIX C
	 	FORM OF CONTROL NOTICE

  
 ii 

 ACCOUNTS AGREEMENT 

This ACCOUNTS AGREEMENT (this “Agreement”) dated as of January [    ], 2012, among Lightning Dock
Geothermal HI-01, LLC, a Delaware limited liability company (the “Company”), Ormat Nevada Inc., a Delaware corporation (“Ormat”) and Wells Fargo Bank, National Association, a national banking association (together
with its successors and permitted assigns, the “Depositary”). 
 RECITALS 

WHEREAS, the Company is developing a geothermal power plant at Hidalgo County, New Mexico with a planned generation capacity of
approximately fourteen and seventy-five hundredths (14.75) MW (net); 
 WHEREAS, the Company and Ormat have entered into
that certain Engineering, Procurement and Construction Contract, dated as of November 21, 2011 (the “EPC Contract”), pursuant to which Ormat and the Company have agreed, inter alia, that Ormat will provide engineering,
design, procurement, construction and related services and supply equipment for the construction of that power plant on a lump-sum, fixed price, turnkey basis, all subject to and in accordance with the terms and conditions set forth in the EPC
Contract; 
 WHEREAS, the Company and Ormat have also entered into that certain Credit Agreement, dated as of November 21,
2011 (the “Credit Agreement”), pursuant to which the Company and Ormat have agreed, inter alia, that the Company will repay the Advance Amount (as defined in the Credit Agreement) to Ormat in satisfaction of amounts owed by
the Company to Ormat pursuant to the EPC Contract, subject to the terms and conditions set forth in the Credit Agreement; 

WHEREAS, Ormat and the Company desire to appoint the Depositary, as the depositary to hold and administer money deposited in the various
accounts established pursuant to this Agreement and funded with, among other things, revenues received by the Company from the Project (as defined in the Credit Agreement) and proceeds of insurance and condemnation and other similar events, as set
forth in the Credit Agreement; 
 WHEREAS, Ormat has entered into the EPC Contract and the Credit Agreement in reliance upon the
revenues anticipated to be generated by the Project; and 
 WHEREAS, it is a condition precedent under the Credit Agreement that
this Agreement shall have been executed and delivered by each of the parties hereto. 
 AGREEMENT 

In consideration of the premises and for other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows: 

  
 1 

 ARTICLE I 
 DEFINITIONS 
 Section 1.01 Capitalized Terms; Rules of Construction 

Each initially-capitalized term defined in the Credit Agreement and used herein without definition has the meaning assigned to such term
in the Credit Agreement. The principles of construction and interpretation set forth in Sections 1.02 and 1.03 of the Credit Agreement shall apply to, and are hereby incorporated by reference into, this Agreement. 

Section 1.02 Additional Definitions 
 In addition, as used herein, the following terms will have the meanings assigned below: 
 “Account Collateral” has the meaning set forth in Section 2.03(a). 
 “Administrative Costs” means all of the Company’s obligations, now or hereafter existing, to pay administrative fees, costs and expenses to Ormat or the Depositary pursuant to the
Financing Documents (including the reasonable fees and expenses of counsel, agents and experts as and to the extent provided in Section 8.03(a) of the Credit Agreement and the corresponding provisions of the other Financing Documents).

 “Collateral Accounts” has the meaning set forth in Section 2.02. 

“Company” has the meaning set forth in the preamble. 

“Control Notice” means a notice given to Depositary by Ormat (with a copy to the Company) substantially in the form of
Appendix C and signed (or purportedly signed) by an officer of Ormat. 
 “Control Period” means a period
beginning with Depositary’s receipt of a Control Notice and ending on the date Depositary receives notice from Ormat that it is no longer exercising control. 
 “Credit Agreement” has the meaning set forth in the recitals. 

“Depositary” has the meaning set forth in the preamble. 

“Disbursement Date” means a date on which monies are withdrawn or transferred from a Collateral Account for the purposes
set forth in a Restoration Requisition, Officer’s Certificate or a Withdrawal Certificate. 
 “Disposition Proceeds
Sub-Account” means the Collateral Account of such name established pursuant to Section 2.02. 

“EPC Contract” has the meaning set forth in the recitals. 

“Funding Date” means any Business Day occurring between the 26th and the 30th day of each month, as determined by the
Company in a Withdrawal Certificate received by the 

  
 2 

 
Depositary at least three (3) Business Days prior to such Funding Date, or if no earlier date is so determined, then the last Business Day of each month; provided that there shall
only be a single Funding Date for any month. 
 “Funding Period” means a period commencing on a Funding Date
and ending on the next succeeding Funding Date. 
 “Indemnified Depositary Party” has the meaning set forth in
Section 5.02. 
 “Loss Limit Amount” means Two Million Dollars ($2,000,000). 

“Officer’s Certificate” means a certificate signed by an Authorized Representative of the Company. 

“Operating Account” means the Collateral Account of such name established pursuant to Section 2.02(b).

 “Permitted Local Operating Account” means a demand deposit account (other than the Collateral Accounts)
established by the Company with an FDIC-insured bank or financial institution with prior notice to Ormat; provided that, from and after the Phase Two Date, each such demand deposit account is subject to a control agreement in form and
substance satisfactory to Ormat. 
 “Prepayment Account” means the Collateral Account of such name established
pursuant to Section 2.02(c). 
 “Proceeds Account” means the Collateral Account of such name
established pursuant to Section 2.02(e). 
 “Reserve Account” means the Collateral Account of such
name established pursuant to Section 2.02(d). 
 “Restoration Budget” has the meaning set forth in
Section 3.04(b)(i). 
 “Restoration Progress Payment Schedule” has the meaning set forth in
Section 3.04(b)(i). 
 “Restoration Requisition” has the meaning set forth in
Section 3.04(b)(ii)(A). 
 “Restoration Sub-Account” means the Collateral Account of such name
established pursuant to Section 2.02. 
 “Revenue Account” means the Collateral Account of such
name established pursuant to Section 2.02(a). 
 “Secured Obligations” has the meaning set forth in
the Security Agreement. 
 “Security Agreement” has the meaning set forth in the Credit Agreement. 

“Transfer Date” has the meaning set forth in Section 3.01(c). 

  
 3 

 “Trigger Event Date” has the meaning set forth in
Section 3.09(a). 
 “UCC” means the Uniform Commercial Code as in effect from time to time in the
State of New York; provided that, to the extent that the perfection or the effect of perfection or non-perfection of the security interests granted to Ormat pursuant to this Agreement is governed by the Uniform Commercial Code as in
effect in a jurisdiction of the United States other than New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction. 
 “Withdrawal Certificate” means a certificate in substantially the form attached as Appendix B, signed by an Authorized Representative of the Company regarding withdrawal of funds
from the Collateral Accounts. 
 Section 1.03 Uniform Commercial Code 

All terms defined in the UCC shall have the respective meanings given to those terms in the UCC, except where the context otherwise
requires. 
 ARTICLE II 
 APPOINTMENT OF DEPOSITARY; ESTABLISHMENT OF COLLATERAL ACCOUNTS 
 Section 2.01
Appointment of Depositary 
 (a) Ormat and the Company hereby appoint and authorize Wells Fargo Bank, National
Association, to act as Depositary hereunder, with such powers as are expressly delegated to the Depositary by the terms of this Agreement, together with such powers as are reasonably incidental thereto. The Depositary hereby agrees to act as such
and as a “securities intermediary” (within the meaning of Section 8-102(a)(14) of the UCC) and, whenever required under this Agreement, as a “bank” (within the meaning of Section 9.102(a)8 of the UCC) and to accept all
cash, payments, other amounts and Permitted Investments to be delivered to or held by the Depositary pursuant to the terms of this Agreement. The Depositary shall hold and safeguard the Collateral Accounts and the property on deposit therein or
credited thereto in accordance with the provisions of this Agreement. 
 (b) Until the Termination Date and except during any
Control Period, the Company shall have the right to receive or make requisitions of monies held in the Collateral Accounts, and to direct the investment of monies held in the Collateral Accounts, solely as, and to the extent, permitted by this
Agreement. 
 Section 2.02 Establishment of Collateral Accounts and Sub-Accounts 

The Depositary hereby establishes the following accounts and sub-accounts (the “Collateral Accounts”) in the form of
non-interest bearing trust collateral accounts and sub-accounts thereof, which shall be maintained at all times until the termination of this Agreement: 
 (a) a Collateral Account entitled “Lightning Dock Geothermal Revenue Account” (the “Revenue Account”); 

  
 4 

 (b) a Collateral Account entitled “Lightning Dock Geothermal Operating Account”
(the “Operating Account”); 
 (c) a Collateral Account entitled “Lightning Dock Geothermal Prepayment
Account” (the “Prepayment Account”); 
 (d) a Collateral Account entitled “Lightning Dock Geothermal
Reserve Account” (the “Reserve Account”); and 
 (e) a Collateral Account entitled “Lightning Dock
Geothermal Proceeds Account” (the “Proceeds Account”). 
 The following sub-accounts are hereby
established and created within the Proceeds Account: 
 (i) Restoration Sub-Account; and 

(ii) Disposition Proceeds Sub-Account. 
 For administrative purposes, additional sub-accounts within the Collateral Accounts may be established and created by the Depositary from time to time in accordance with this Agreement as separate trust
accounts and each such sub-account shall be a Collateral Account. 
 Section 2.03 Security Interests 

(a) Pursuant to the Security Agreement, as collateral security for the performance and the payment in full when due (whether at stated
maturity, by acceleration or otherwise) of the Secured Obligations, the Company has pledged to Ormat and has granted to Ormat a security interest in all of the Company’s right, title and interest in, to and under (i) each Collateral
Account, (ii) all cash, instruments, investment property, securities and other financial assets at any time on deposit in or credited to any Collateral Account, including all income, earnings and distributions thereon, (iii) all
“security entitlements” (as defined in Section 8-102(a)(17) of the UCC) with respect to financial assets on deposit in or credited to the Collateral Accounts, and (iv) and all proceeds, products and accessions of and to any and
all of the foregoing, including whatever is received or receivable upon any collection, exchange, sale or other disposition of any of the foregoing and any property into which any of the foregoing is converted, whether cash or non-cash proceeds, and
any and all other amounts paid or payable under or in connection with any of the foregoing (collectively, the “Account Collateral”). 
 (b) The Depositary is the agent of Ormat and the Company, for the purpose of receiving payments contemplated hereunder and for the purpose of perfecting the Lien of Ormat, in and to the Collateral
Accounts and the other Account Collateral; provided that the Depositary shall not be responsible for taking any action to perfect such Lien except through the performance of its express obligations hereunder or upon the written direction of
Ormat, complying with this Agreement. 

  
 5 

 Section 2.04 Accounts Maintained as UCC “Securities Accounts” 

(a) The Depositary hereby agrees and confirms that it has established the Collateral Accounts as set forth and defined in this Agreement.
The Depositary agrees that: (i) each such Collateral Account established by it is and will be maintained as a “securities account” (within the meaning of Section 8-501 of the UCC); (ii) the Company is an “entitlement
holder” (within the meaning of Section 8-102(a)(7) of the UCC) in respect of the “financial assets” (within the meaning of Section 8-102(a)(9) of the UCC) credited to such Collateral Accounts; (iii) all financial assets
in registered form or payable to or to the order of and credited to any such Collateral Account shall be registered in the name of, payable to or to the order of, or specially endorsed to, the Depositary or in blank, or credited to another
securities account maintained in the name of the Depositary, and in no case will any financial asset credited to any such Collateral Account be registered in the name of, payable to or to the order of, or endorsed to, the Company except to the
extent the foregoing have been subsequently endorsed by the Company to the Depositary or in blank; and (iv) each and every item of Property (including any security, security entitlement, investment property, instrument, share, participation,
interest, cash or other property whatsoever) credited to any Collateral Account shall be treated as a financial asset; and (v) until this Agreement shall terminate in accordance with the terms hereof, Ormat shall have “control”
(within the meaning of Section 8-106(d) of the UCC) of the Collateral Accounts and all “security entitlements” (within the meaning of Section 8-102(a)(17) of the UCC) of the Company with respect to the financial assets credited
to the Collateral Accounts. The Depositary shall promptly credit to the Collateral Accounts all Property delivered to the Depositary pursuant to this Agreement. The Depositary shall not change the name or account number of any Collateral Account
without the prior written consent of Ormat. 
 (b) If and to the extent that any of the Collateral Accounts are deemed not to be
securities accounts under the UCC, such Collateral Accounts will be deemed to be, and the Depositary agrees that it will maintain such Collateral Accounts as, “deposit accounts” (within the meaning of Section 9-102(a)(29) of the UCC)
maintained by the Company with the Depositary acting as a “bank” (within the meaning of Section 9-102(a)(8) of the UCC). The Depositary shall credit such Collateral Accounts with all Property received by it pursuant to this Agreement,
including all receipts of interest, dividends and other income received on the Property held in the Collateral Accounts. The Depositary shall administer and manage the Collateral Accounts in strict compliance with all of the terms applicable to the
Collateral Accounts pursuant to this Agreement. 
 Section 2.05 Control 

(a) The Company hereby irrevocably directs, and the Depositary hereby agrees, that the Depositary will comply with instructions and orders
(including entitlement orders within the meaning of Section 8-102(a)(8) of the UCC and instructions directing disposition of funds within the meaning of Section 9-104(a)(2) of the UCC) regarding each Collateral Account, any financial asset
held therein or credited thereto and any funds on deposit therein originated by Ormat without further consent by the Company or any other Person. 
 (b) Upon Depositary’s receipt of a Control Notice and during the Control Period initiated by such Control Notice, the Depositary will comply only with instructions and orders

  
 6 

 
originated by Ormat. In the case of a conflict during a Control Period between any instruction or order originated by Ormat and any instruction or order originated by any other Person other than
a court of competent jurisdiction, the instruction or order originated by Ormat shall prevail. Within three (3) Business Days after initiation of a Control Period, the Depositary shall render an accounting of all monies in the Collateral
Accounts as of the beginning of such Control Period to Ormat and the Company. 
 Section 2.06 Jurisdiction of Depositary 

The Company, Ormat and the Depositary agree that, for purposes of the UCC, notwithstanding anything to the contrary contained in any other
agreement relating to the establishment and operation of the Collateral Accounts, the laws of the State of New York govern the establishment and operation of the Collateral Accounts, and the State of New York shall be (i) the “securities
intermediary’s jurisdiction” (within the meaning of Section 8-110(e) of the UCC) of the Depositary with respect to the Collateral Accounts that are securities accounts and all related security entitlements and (ii) the
“bank’s jurisdiction” (within the meaning of Section 9-304(b) of the UCC) of the Depositary with respect to the Collateral Accounts that are deposit accounts. 
 Section 2.07 Degree of Care; Liens 
 The Depositary shall exercise the same
degree of care in administering the funds held in the Collateral Accounts and the investments purchased with such funds in accordance with the terms of this Agreement as Depositary exercises in the ordinary course of its day-to-day business in
administering other funds and investments for its own account and as required by Applicable Law. The Depositary is not party to, and shall not execute and deliver, or otherwise become bound by, any agreement under which the Depositary agrees with
any Person other than Ormat or the Company to comply with entitlement orders or instructions originated by such Person relating to any of the Collateral Accounts and the other Account Collateral that are the subject of this Agreement. 

Section 2.08 Subordination of Lien; Waiver of Set-Off 
 In the event that the Depositary has or subsequently obtains by agreement, operation of law or otherwise a Lien in any Collateral Account or in any Account Collateral, the Depositary agrees that such Lien
shall (except to the extent provided in the last sentence of this Section 2.08) be subordinate to any Lien of Ormat granted pursuant to the Financing Documents. The financial assets standing to the credit of the Collateral Accounts will
not be subject to deduction, set-off, banker’s lien, or any other right in favor of any Person other than Ormat (except to the extent of returned items and chargebacks either for uncollected checks or other items of payment and transfers
previously credited to one or more of the Collateral Accounts, and the Company and Ormat hereby authorize the Depositary to debit the relevant Collateral Account(s) for such amounts). 
 Section 2.09 No Other Agreements 
 None of the Depositary, Ormat or the
Company have entered or will enter into any agreement with respect to any Collateral Account or any security entitlements or any financial assets carried in or credited to any Collateral Account, other than this Agreement and the other Financing
Documents. 

  
 7 

 Section 2.10 Notice of Adverse Claims 

The Depositary hereby represents that, except for the claims and interests of Ormat and the Company in each of the Collateral Accounts,
the Depositary, (a) as of the date hereof, has no knowledge of, and has received no notice of, and (b) as of each date on which any Collateral Account is established pursuant to this Agreement, has received no notice of, any claim to, or
interest in, any Collateral Account or in any other Account Collateral. If any Person asserts any Lien (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against any Collateral Account or any other
Account Collateral, the Depositary, upon obtaining actual knowledge thereof, will promptly notify Ormat and the Company thereof. 
 Section 2.11
Termination 
 This Agreement shall remain in full force and effect until the Termination Date. 

ARTICLE III 

THE COLLATERAL ACCOUNTS 

Section 3.01 Revenue Account 
 (a) The Company shall cause the following amounts to be deposited into the Revenue Account directly, or if received by the Company, as soon as practicable upon receipt, in either case in accordance with
this Section 3.01(a): 
 (i) all Project Revenues; and 

(ii) all amounts required to be transferred to the Revenue Account from any other Collateral Account as contemplated in
accordance with this Agreement. 
 If any of the foregoing amounts required to be deposited with the Depositary in accordance with the terms of
this Agreement are received by the Company (or any Affiliate of the Company), the Company shall (or shall cause any such Affiliate to) hold such payments in trust for the Depositary and shall promptly remit such payments to the Depositary for
deposit into the Revenue Account, in the form received, with any necessary endorsements. 
 (b) In the event the Depositary
receives monies without adequate instruction with respect to the proper Collateral Account into which such monies are to be deposited, the Depositary shall deposit such monies into the Revenue Account and segregate such monies from all other amounts
on deposit in the Revenue Account and notify the Company of the receipt of such monies. Upon receipt of written instructions from the Company, so long as no Default or Event of Default shall have occurred and is continuing, the Depositary shall
transfer such monies from the Revenue Account to the Collateral Account specified by such instructions. 
 (c) The Company
hereby irrevocably authorizes the Depositary to make withdrawals and transfers of monies on each date specified in Sections 3.01(c) below on which monies need 

  
 8 

 
to be applied (the “Transfer Date”) (via wire transfer or by internal transfer between Collateral Accounts, if applicable) to the extent then available in the Revenue Account and
not segregated in a separate sub-account thereof or otherwise for any specific purpose, upon the receipt of a Withdrawal Certificate of the Company by the Depositary three (3) Business Days prior to the Transfer Date, setting forth the amounts
to be withdrawn from the Revenue Account and the amounts to be transferred pursuant to this Section 3.01(c) pursuant to the terms of this Agreement in the following order of priority, all in accordance with such Withdrawal Certificate:

 (1) First, on each Funding Date, to the Operating Account, the following amounts as set forth in the Withdrawal
Certificate delivered at least three (3) Business Days prior to such Funding Date: (x) the amounts certified in the Withdrawal Certificate to be the Operating and Maintenance Expenses then due and payable, or the good faith estimate of the
amounts reasonably anticipated to be due and payable, by the Company for Operating and Maintenance Expenses during the Funding Period commencing on such Funding Date but prior to the next Funding Date, plus (y) any Administrative Costs then due
and payable or reasonably anticipated to be due and payable during the Funding Period commencing on such Funding Date but prior to the next Funding Date (as specified in the Withdrawal Certificate) to each of the Depositary and Ormat and
minus (z) the amounts anticipated to be on deposit in the Operating Account on such Funding Date; 
 (2)
Second, on each Funding Date, to the Reserve Account, the amounts as set forth in the Withdrawal Certificate delivered at least three (3) Business Days prior to such Funding Date, in respect of taxes, insurance and other amounts set
forth in the Withdrawal Certificate and included in the then applicable Operating Budget: 
 (3) Third, during the
Company Cash Sweep Period, on each Funding Date, an amount sufficient to pay amounts then due and owing, if any, under the EPC Contract to Ormat (it being understood that payments in respect of the Advance Amount (and the corresponding amount under
the EPC Contract) or any interest thereon shall not be required to be made by the Company during the Company Cash Sweep Period); 
 (4) Fourth, on each Funding Date during the Company Cash Sweep Period, after making each applicable withdrawal and transfer specified in Sections 3.01(c)(1), (2) and (3) above, to
the Company, an amount equal to the amount (if any) that remains in the Revenue Account on such Funding Date; provided that (X) no amounts that have been transferred into the Revenue Account from the Loss Proceeds Account during the Company
Cash Sweep Period shall be transferred to the Company pursuant to this clause Fourth and (Y) no amounts shall be transferred to the Company pursuant to this clause Fourth during the continuance of a Step in Event (Grant) under the
Credit Agreement; 
 (5) Fifth, during the Interest Payment Period, as set forth in a notice from Ormat to Depositary
delivered at least one (1) Business Day prior to such Transfer Date, to Ormat, an amount which equals the interest on the Advance Amount becoming due and payable on such Transfer Date; and 

(5) Sixth, on each Funding Date during the Interest Payment Period, after making each applicable withdrawal and transfer specified
in Sections 3.01(c)(1) through (5) above, to the Prepayment Account, the amount (if any) that remains in the Revenue Account on such Funding Date. 

  
 9 

 Section 3.02 Operating Account 

Upon receipt by the Depositary of a Withdrawal Certificate detailing the amounts to be paid, the Depositary shall transfer funds in the
Operating Account to (i) the Permitted Local Operating Account or any Person identified by the Company to whom a payment is due in respect of Operating and Maintenance Expenses and (ii) the Depositary and Ormat for the Administrative Costs
then due and payable to each of them. Any amount to be transferred pursuant to clause (i) above shall be set forth in such Withdrawal Certificate and shall be certified therein to be (a) amounts then due and payable for the
Operating and Maintenance Expenses of the Company or (b) the good faith estimate of amounts reasonably anticipated to be due and payable for Operating and Maintenance Expenses of the Company within the remainder of the Funding Period during
which such Withdrawal Certificate is submitted (less in each case the available amounts on deposit in or credited to the Permitted Local Operating Account other than amounts against which outstanding checks have been drawn and mailed or delivered
but have not been cashed). Notwithstanding anything to the contrary herein, (1) any payment in respect of any single item of Operating and Maintenance Expenses which individually exceeds One Hundred Fifty Thousand Dollars ($150,000) shall be
made solely from the Operating Account and (2) the Company shall not request the Depositary to transfer any amounts from the Operating Account to the Permitted Local Operating Account in order to pay any such item of Operating and Maintenance
Expense. Funds, upon receipt by the Depositary of a Withdrawal Certificate, may be distributed from the Operating Account as frequently as necessary to pay Operating Expenses which are, or will be, due and payable during each relevant Funding
Period. 
 Section 3.03 Prepayment Account 
 The Prepayment Account shall be funded from (a) Cash Grant Proceeds, (b) the Net Available Amount of proceeds of Project Document Claims, (c) certain proceeds received in connection with a
Disposition or Event of Loss (as specified in the Financing Documents) and (d) amounts in the Revenue Account in accordance with Section 3.01(c). The funds on deposit in the Prepayment Account shall be used (a) during the
Company Cash Sweep Period, to pay first, any amounts, other than the Advance Amount, due to Ormat under the EPC Contract and second to prepay the Advance Amount in accordance with Section 2.04 of the Credit Agreement and (b) on or after
the Interest Payment Period, to prepay the Advance Amount in accordance with Section 2.04 of the Credit Agreement; provided that (X) if either Ormat or the Company has notified the Depositary that the Minimum Capacity Requirement (as
defined in the EPC Contract) has not occurred, the Depositary shall cause the Cash Grant Proceeds to be retained in the Prepayment Account until receipt of a notice from either Ormat or the Company that the Minimum Capacity Requirement has occurred
and (Y) no prepayment of the Advance Amount shall be made with Cash Grant Proceeds until the “Performance Guarantee (Buy Down)” (as defined in, and in accordance with, the EPC Contract) is achieved. All Cash Grant Proceeds shall be
deposited directly in the Prepayment Account. All proceeds received in connection with an Event of Loss or a Disposition initially shall be deposited in the Proceeds Account and the Net Available Amount of such proceeds will be transferred to the
Prepayment Account if not used to repair or replace the Project or to make Capital Expenditures or to otherwise reinvest the 

  
 10 

 
same in assets of the Company, as permitted under Section 3.04 hereof, and applied first to pay any amounts, other than the Advance Amount, due to Ormat under the EPC Contract and
second to prepay the Advance Amount. 
 Section 3.04 Proceeds Account 

(a) Loss Proceeds. The Company shall cause all Loss Proceeds received to be deposited into the Proceeds Account subject to
disbursement for repair or replacement of the assets affected, or otherwise, as follows: 
 (i) If the Company certifies to the
Depositary that (X) the affected portion of the Project is not capable of being rebuilt or replaced to permit operation on a commercially reasonable basis, or (Y) the Loss Proceeds, together with any other amounts available for such
rebuilding or replacement, are not sufficient to permit such rebuilding or replacement, and in each case if the aggregate Loss Proceeds are in excess of the Loss Limit Amount, the Depositary will transfer the Net Available Amount of such Loss
Proceeds to the Prepayment Account and the amount representing the Collection Expenses shall be transferred to the Revenue Account. If such Loss Proceeds are equal to or less than the Loss Limit Amount, all such amounts shall be transferred to the
Revenue Account for application in accordance with the terms hereof. 
 (ii) If the Company certifies to the Depositary that it
has determined not to rebuild, repair or restore all or a portion of the Project and if the aggregate Loss Proceeds are in excess of the Loss Limit Amount, the Depositary shall withdraw and transfer to the Prepayment Account the Net Available Amount
of the Loss Proceeds and the amount representing the Collection Expenses shall be transferred to the Revenue Account. If the Company certifies to the Depositary that only a portion of the Project is capable of being rebuilt or replaced, and if the
aggregate Loss Proceeds are in excess of the Loss Limit Amount, the Depositary shall transfer the Net Available Amount of the Loss Proceeds in excess of the cost of repairing or replacing the Project to the Prepayment Account and the amount
representing the Collection Expenses shall be transferred to the Revenue Account. If such Loss Proceeds are equal to or less than the Loss Limit Amount, all such amounts shall be transferred to the Revenue Account for application in accordance with
the terms hereof. 
 (iii) If the Company shall not have provided any of the certifications described in Sections 3.04(a)(i)
and (ii) above or has not provided the Officer’s Certificate described in Section 3.04(b) below within thirty (30) days following the receipt of any Loss Proceeds, the Depositary shall withdraw and transfer to the
Prepayment Account the Net Available Amount of the Loss Proceeds and the amount representing the Collection Expenses shall be transferred to the Revenue Account. 
 (b) Restoration. 
 (i) In the event that the Company has determined to
rebuild, repair or restore all or a portion of the Project, upon delivery to the Depositary of an Officer’s Certificate, delivered no later than thirty (30) days following the relevant Event of Loss, certifying that all or a portion, as
applicable, of the Project will be rebuilt, repaired or restored on a commercially reasonable basis and the Net Available Amount of the Loss Proceeds, together with any other 

  
 11 

 
amounts available to the Company for such rebuilding, repair or restoration are sufficient to permit such rebuilding, repair or restoration, the Depositary shall transfer the Net Available Amount
of such Loss Proceeds to the Restoration Sub-Account. Amounts held in the Restoration Sub-Account shall be applied solely for the payment of the costs of rebuilding, restoration or repair of the Project as set forth below or as otherwise
contemplated herein; provided that the approval of Ormat shall be required for any transfer to the Restoration Sub-Account if the aggregate amount requested to be transferred to the Restoration Sub-Account together with any other amounts
transferred to the Restoration Sub-Account in any consecutive twelve (12) month period with respect to any Event of Loss exceeds the Loss Limit Amount. If the amount deposited in the Restoration Sub-Account with respect to any Event of Loss
exceeds the Loss Limit Amount per Event of Loss, the Company shall deliver to the Depositary and Ormat (x) a restoration budget (as amended, modified or supplemented from time to time, the “Restoration Budget”) prepared by the
Company and subject to the approval of Ormat (acting in its reasonable discretion), identifying all categories and approximate amounts reasonably anticipated to be incurred in connection with the rebuilding, restoration or repair, together with a
statement of uses of proceeds of the Restoration Sub-Account and any other monies necessary to complete the rebuilding, restoration or repair and (y) a restoration progress payment schedule (as amended, modified or supplemented from time to
time, the “Restoration Progress Payment Schedule”) determined by the Company for the projected requisitions to be made from the Restoration Sub-Account. The Depositary shall have no obligation to review the Restoration Budget or the
Restoration Progress Payment Schedule, but shall hold such documents for the benefit of Ormat. 
 (ii) Before any withdrawal or
transfer shall be made from the Restoration Sub-Account, there shall be filed with the Depositary with respect to each Disbursement Date: 
 (A) a requisition from the Company substantially in the form attached hereto as Appendix A (a “Restoration Requisition”), dated not more than three (3) Business Days prior to
such Disbursement Date, as set forth therein, signed by an Authorized Representative of the Company; 
 (B) if
the aggregate amount requested to be withdrawn or transferred from the Restoration Sub-Account in any consecutive twelve (12)-month period with respect to any Event of Loss exceeds the Loss Limit Amount, such Restoration Requisition shall be subject
to the approval of Ormat (acting in its reasonable discretion); and 
 (C) if clause (B) above does
not apply, the Restoration Requisition shall so state. 
 (iii) On the Disbursement Date referred to in
Section 3.04(b)(i) or as soon thereafter as practicable following receipt of a complete Restoration Requisition as contemplated by Section 3.04(b)(ii) above, the Depositary shall withdraw and transfer from the Restoration
Sub-Account and shall pay to the Company or to Persons directed by it in writing the amounts set forth in the Restoration Requisition. 

  
 12 

 (iv) Upon completion of any rebuilding, restoration or repair of all or a portion of the
Project, the Company shall file with the Depositary an Officer’s Certificate certifying that the completion of the rebuilding, restoration or repair has been performed in accordance with standard industry practices and the amount, if any,
required in its opinion to be retained in the Restoration Sub-Account for the payment of any remaining costs of rebuilding, restoration or repair not then due and payable or the liability for payment of which is being contested or disputed by the
Company and for the payment of reasonable contingencies following completion of the rebuilding, restoration or repair. Upon receipt of such Officer’s Certificate, the Depositary shall transfer first the amount remaining in the Restoration
Sub-Account in excess of the amounts to remain in the Restoration Sub-Account as stated in such Officer’s Certificate, to the Company or to Persons directed by it in writing to the extent of any amounts which have been expended by such Persons,
if any, in connection with such rebuilding, restoration or repair (as set forth in such Officer’s Certificate) and not previously reimbursed and second, segregate the remaining excess in the Restoration Sub-Account from any other amounts
therein. If such remaining excess exceeds the Loss Limit Amount, the Depositary shall transfer all of such monies in the Restoration Sub-Account to the Prepayment Account for application pursuant to Section 3.03. If such remaining excess
is equal to or less than the Loss Limit Amount, the Depositary shall transfer all of such monies in the Restoration Sub-Account to the Revenue Account. Thereafter, upon receipt of an Officer’s Certificate certifying payment of all costs of
rebuilding, restoration or repair of the Project, the Depositary shall transfer any amounts remaining in the Restoration Sub-Account to the Revenue Account. 
 (c) Disposition. The Company shall cause all proceeds of any Disposition to be deposited in the Disposition Proceeds Sub-Account subject to disbursement for repair or replacement of the assets
affected, or otherwise, as follows: 
 (i) In the event that the Net Available Amount in respect of any Disposition or any
related series of Dispositions is One Hundred Fifty Thousand Dollars ($150,000) or less, such amounts shall be deposited into the Revenue Account. 
 (ii) In the event that Net Available Amount in respect of any Disposition or any related series of Dispositions is greater than One Hundred Fifty Thousand Dollars ($150,000), the Depositary will transfer
the Net Available Amount of the proceeds of such Disposition to the Prepayment Account and the amount representing the Collection Expenses shall be transferred to the Revenue Account. 
 Section 3.05 Reserve Account 
 The Reserve Account shall be funded from
transfers from the Revenue Account under Section 3.01(c)(2). Funds in the Reserve Account shall be transferred by the Depositary in the amounts and to the Person specified in a written notice from the Company to the Depositary from time
to time, in each case in accordance with the terms and conditions of this Agreement. 
 Section 3.06 Investment of Accounts 

Amounts deposited in the Collateral Accounts under this Agreement shall, at the Company’s written request and direction or, at any
time when a Control Period is in effect, at 

  
 13 

 
Ormat’s written request and direction be invested by the Depositary in Permitted Investments. If the Company fails to select a Permitted Investment, all amounts in the Collateral Accounts
will be held as cash. Such investments will generally mature in such amounts and not later than such times as may be necessary to provide monies when needed to make payments from such monies as provided in this Agreement. Except as otherwise
provided herein, net interest or gain received, if any, from such investments shall be deposited into the Revenue Account. Any loss shall be charged to the applicable Collateral Account. Absent written instructions from the Company or, during a
Control Period, from Ormat, the Depositary shall invest the amounts held in the Collateral Accounts under this Agreement in Permitted Investments described in clause (iii) of such definition. 

If investment instructions are received after 11 a.m. (Eastern Time), the amounts will be invested on the next Business Day. The
Depositary shall have no liability for any fees, taxes, charges or investment losses, including without limitation any market loss on any investment liquidated prior to maturity in order to make a payment required hereunder. Ormat and the Company
shall provide the Depositary with a certified tax identification number. Ormat and the Company understand that, in the event tax identification numbers are not certified to the Depositary, the Internal Revenue Code, as amended from time to time, may
require withholding by the Depositary of a portion of any interest or other income earned on the investment of the amounts held in the Collateral Accounts. 
 Section 3.07 Disposition of Accounts Upon Termination Date 
 In the event
that the Depositary shall have received a certificate from Ormat, or a final, non-appealable court order from a court of competent jurisdiction, stating that the Termination Date shall have occurred, all amounts remaining in the Collateral Accounts
and any letters of credit or guaranties held by the Depositary shall be remitted to or as directed by the Company in writing. Ormat agrees to provide the certificate referred to in the preceding sentence promptly following the occurrence of the
Termination Date. 
 Section 3.08 Collateral Account Balance Statements 

The Depositary shall, on a monthly basis and at such other times as Ormat or the Company may from time to time reasonably request, provide
to Ormat and the Company, fund balance statements in respect of each of the Collateral Accounts and amounts segregated in any of the Collateral Accounts. Such balance statement shall also include the amounts of all deposits, receipts, withdrawals
and transfers from and to any Collateral Account, the net investment income or gain received and collected, all disbursements and the amount then available in each such Collateral Account. 

ARTICLE IV 

DEPOSITARY 
 Section 4.01
Powers and Immunities 
 The Depositary shall not have any duties or responsibilities except those expressly set forth in
this Agreement and no implied duties or covenants shall be read against the Depositary. Notwithstanding anything to the contrary contained herein, the Depositary shall not be required 

  
 14 

 
to take any action which is contrary to this Agreement or Applicable Law. Neither the Depositary nor any of its Affiliates shall be responsible to Ormat for any recitals, statements,
representations or warranties made by the Company contained in any Transaction Document or in any certificate or other document referred to or provided for in, or received by Ormat under, any Transaction Document for the value, validity,
effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Transaction Document or any other document referred to or provided for herein or therein or for any failure by the Company to perform its obligations hereunder
or thereunder. The Depositary shall not be required to ascertain or inquire as to the performance by the Company of any of its obligations under any Transaction Document or any other document or agreement contemplated hereby or thereby. The
Depositary shall not be (a) required to initiate or conduct any litigation or collection proceeding hereunder or under any other Security Document or (b) responsible for any action taken or omitted to be taken by it hereunder (except for
its own gross negligence, bad faith or willful misconduct) or in connection with any other Security Document. Except as otherwise provided under this Agreement, the Depositary shall take action under this Agreement only as it shall be directed in
writing. Whenever in the administration of this Agreement the Depositary shall deem it necessary or desirable that a factual matter be proved or established in connection with the Depositary taking, suffering or omitting to take any action
hereunder, such matter (unless other evidence in respect thereof is herein specifically prescribed) may be deemed to be conclusively proved or established by a certificate of a Authorized Representative of the Company or Ormat, if appropriate. The
Depositary shall have the right at any time to seek written instructions concerning the administration of this Agreement from Ormat, the Company or any court of competent jurisdiction. The Depositary shall have no obligation to expend or risk its
own funds or otherwise incur any financial liability in the performance of any of its duties hereunder. The Depositary shall not be liable for any error of judgment made in good faith by an officer or officers of the Depositary, unless it shall be
conclusively determined by a court of competent jurisdiction that the Depositary was grossly negligent or acted in bad faith in ascertaining the pertinent facts. The Depositary may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents, attorneys, custodians or nominees appointed with due care, and shall not be responsible for any willful misconduct or gross negligence on the part of, or for the supervision of, any agent, attorney,
custodian or nominee so appointed. Neither the Depositary nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted under this Agreement or in connection therewith except to the extent caused by the
Depositary’s gross negligence, bad faith or willful misconduct, as determined by the final judgment of a court of competent jurisdiction, no longer subject to appeal or review. The Depositary shall not be deemed to have knowledge of a Default
or Event of Default or any acceleration of the Advance Amount unless an Authorized Representative of the Depositary shall have received written notice thereof. 
 Section 4.02 Reliance by Depositary 
 The Depositary shall be entitled to
conclusively rely upon and shall not be bound to make any investigation into the facts or matters stated in any certificate, certificate of an Authorized Representative of the Company, Ormat’s certificate or any other notice or other document
(including any telecopy) believed by it to be genuine and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice and statement of legal counsel, independent accountants and other experts selected by the
Depositary and shall have no liability 

  
 15 

 
for its actions taken thereupon, unless due to the Depositary’s willful misconduct, bad faith or gross negligence. Without limiting the foregoing, the Depositary shall be required to make
payments to Ormat and/or the Company only as set forth herein. The Depositary shall be fully justified in failing or refusing to take any action under this Agreement (i) if such action would, in the reasonable opinion of the Depositary, be
contrary to Applicable Law or the terms of this Agreement, (ii) if such action is not specifically provided for in this Agreement, it shall not have received any such advice or concurrence of Ormat as it deems appropriate or (iii) if, in
connection with the taking of any such action that would constitute an exercise of remedies under this Agreement (whether such action is or is intended to be an action of the Depositary or Ormat), it shall not first be indemnified to its
satisfaction by Ormat (other than Ormat (in its individual capacity)) against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The Depositary shall in all cases be fully
protected in acting, or in refraining from acting, under this Agreement in accordance with a request of Ormat, and such request and any action taken or failure to act pursuant thereto shall be binding upon Ormat. The Depositary shall not be
responsible for the filing of any UCC-1s or UCC-3s, if necessary. 
 Section 4.03 Court Orders 

The Depositary is hereby authorized, in its exclusive discretion, to obey and comply with all writs, orders, judgments or decrees issued
by any court or administrative agency affecting any money, documents or things held by the Depositary. The Depositary shall not be liable to either of the parties hereto or their successors, heirs or personal representatives by reason of the
Depositary’s compliance with such writs, orders, judgments or decrees, notwithstanding such writ, order, judgment or decree is later reversed, modified, set aside or vacated. 
 Section 4.04 Resignation or Removal 
 Subject to the appointment and
acceptance of a successor Depositary as provided below, the Depositary may resign at any time by giving thirty (30) days’ prior written notice thereof to Ormat and the Company. The Depositary may be removed at any time with or without
cause by Ormat. So long as no Default or Event of Default shall have then occurred and be continuing, the Company shall have the right to remove the Depositary for cause upon sixty (60) days’ written notice to the Depositary and Ormat. In
the event that the Depositary shall decline to take any action without first receiving adequate indemnity from the Company or Ormat and, having received an indemnity, shall continue to decline to take such action, the Company and Ormat shall be
deemed to have sufficient cause to remove the Depositary. Notwithstanding anything to the contrary, no resignation or removal of the Depositary shall be effective until: (i) a successor Depositary is appointed in accordance with this
Section 4.04, (ii) the resigning or removed Depositary has transferred to its successor all of its rights and obligations in its capacity as the Depositary under this Agreement and the other Transaction Documents, and (iii) the
successor Depositary has executed and delivered an agreement to be bound by the terms hereof (or other terms acceptable to Ormat and the Company) and the other Transaction Documents to which such Depositary is intended to be a party and perform all
duties required of the Depositary hereunder and under the other Transaction Documents. Within thirty (30) days of receipt of a written notice of any resignation or removal of the Depositary, so long as no Default or Event of Default shall have
then occurred and be continuing, the Company shall appoint a successor 

  
 16 

 
Depositary reasonably acceptable to Ormat; provided, that if Ormat do not confirm such acceptance or reject such appointee in writing within thirty (30) days following selection of
such successor by the Company, then they shall be deemed to have given acceptance thereof and such successor shall be deemed appointed as the Depositary hereunder. If no successor Depositary shall have been appointed by the Company and no successor
Depositary shall have accepted such appointment within thirty (30) days after the retiring Depositary’s giving of notice of resignation or the removal of the retiring Depositary or if a Default or Event of Default shall have then occurred
and be continuing, then the retiring Depositary may apply to a court of competent jurisdiction at the expense of the Company to appoint a successor Depositary, which shall be (i)(A) a bank or trust company that has an office in New York, New York
and that has a combined capital surplus of at least One Billion Dollars ($1,000,000,000) or (B) a wholly owned subsidiary of a bank or trust company described in clause (i)(A) above so long as such subsidiary has a combined capital
surplus of at least One Billion Dollars ($1,000,000,000) and (ii) reasonably acceptable to Ormat; provided, that if Ormat does not confirm such acceptance or reject such appointee in writing within thirty (30) days following
selection of such successor by the retiring Depositary, then they shall be deemed to have given acceptance thereof and such successor shall be deemed appointed as the Depositary hereunder. Upon the acceptance of any appointment as Depositary
hereunder by the successor Depositary, (a) such successor Depositary shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Depositary, and the retiring Depositary shall be discharged
from its duties and obligations hereunder arising after the date of acceptance by the successor Depositary of its appointment and (b) the retiring Depositary shall promptly transfer all monies and Permitted Investments within its possession or
control to the possession or control of the successor Depositary and shall execute and deliver such notices, instructions and assignments as may be necessary or desirable to transfer the rights of the Depositary with respect to the monies and
Permitted Investments to the successor Depositary. After the retiring Depositary’s resignation or removal hereunder as Depositary, the provisions of this Article IV and of Article V shall continue in effect for its benefit in
respect of any actions taken or omitted to be taken by it while it was acting as Depositary. Any corporation into which the Depositary may be merged or converted or with which it may be consolidated or any corporation resulting from any merger,
conversion or consolidation to which the Depositary shall be a party, or any corporation succeeding to the business of the Depositary shall be the successor of the Depositary hereunder without the execution or filing of any paper with any party
hereto or any further act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding. 

ARTICLE V 

EXPENSES; INDEMNIFICATION; FEES 
 Section 5.01 Expenses and Taxes 
 Subject to the terms of the agreement
referenced in Section 5.03, the Company agrees to pay or reimburse all reasonable out-of-pocket expenses of the Depositary (including reasonable fees and expenses for legal services) in respect of, or incident to, the administration or
enforcement of any of the provisions of this Agreement or in connection with any amendment, waiver or consent relating to this Agreement. The Company shall be responsible for the payment of all taxes, levies and similar liabilities attributable to
interest, gains and other earnings on any amounts held in any Collateral Account or other account or sub-account maintained pursuant to this Agreement. 

  
 17 

 Section 5.02 Indemnification 
 The Company agrees to indemnify the Depositary in its capacity as such and, in their capacity as such, its officers, directors, shareholders, controlling persons, employees, agents and servants (each an
“Indemnified Depositary Party”) from and against any and all claims, losses, liabilities and expenses (including the reasonable fees and expenses of counsel) arising out of or resulting from this Agreement (including performance
under or enforcement of this Agreement, but excluding any such claims, losses or liabilities resulting from the Indemnified Depositary Party’s gross negligence, bad faith or willful misconduct). This indemnity shall survive the termination of
this Agreement, and the resignation or removal of the Depositary. 
 Section 5.03 Fees 

On the Effective Date, and on each anniversary of the Effective Date up to and including the Termination Date, the Company shall pay the
Depositary an annual fee in an amount mutually agreed upon in a separate agreement between the Company and the Depositary. The Depositary shall invoice the Company who will pay such invoice. 

ARTICLE VI 

MISCELLANEOUS 
 Section
6.01 Amendments; Etc. 
 No amendment or waiver of any provision of this Agreement nor consent to any departure by the
Company herefrom shall in any event be effective unless the same shall be in writing and signed by each of the parties hereto. Any such amendment, waiver or consent shall be effective only in the specific instance and for the specified purpose for
which given. 
 Section 6.02 Addresses for Notices 
 All notices and other communications provided for hereunder or thereunder shall be (i) in writing (including facsimile and electronic mail) and (ii) sent by facsimile, electronic mail or
overnight courier (if for inland delivery) or international courier (if for overseas delivery) to a party hereto at its address and contact number specified in below, or at such other address and contact number as is designated by such party in a
written notice to the other parties hereto: 
  

			
	Company:	  	 Lightning Dock Geothermal HI-01, LLC
 136 South Main Street, Suite 600
 Salt Lake City, Utah 84101

Attention: Nicholas Goodman
 Fax: (801)
374-3314

  
 18 

			
	Ormat:	  	 Ormat Nevada Inc.
 6225 Neil
Road
 Reno, Nevada 89511-1136
 Attn:
President
 Telephone: (775) 356-9029

Facsimile: (775) 356-9039

		
	 Depositary and

Securities Intermediary:
	  	 Wells Fargo Bank, National Association
 45 Broadway, 14th Floor
 New York, NY 10006
 Tel: (212) 515-1570
 Fax: (212) 515-1589
 Attention: Corporate Trust Services

 All notices and communications shall be effective when received by the addressee thereof during business hours on a
Business Day at such Person’s location as indicated by such Person’s address above, or at such other address as is designated by such Person in a written notice to the other parties hereto. 

Section 6.03 Governing Law 
 This Agreement, including all matters of construction, validity, performance and the creation, validity, enforcement or priority of the lien of, and security interests created by, this Agreement in or
upon the Collateral Accounts and other Account Collateral shall be governed by the laws of the State of New York, without reference to conflicts of law that would cause the application of the laws of another jurisdiction. It is the intent and
purpose of the parties hereto that the provisions of Section 5-1401 of the General Obligations Law of the State of New York shall apply to this Agreement. 
 Section 6.04 Headings 
 Headings used in this Agreement are for convenience
of reference only and do not constitute part of this Agreement for any purpose. 
 Section 6.05 No Third Party Beneficiaries 

The agreements of the parties hereto are solely for the benefit of the Depositary, the Company and Ormat and their respective successors
and assigns, and no Person (other than the parties hereto) shall have any rights hereunder. 
 Section 6.06 No Waiver 

No failure on the part of the Depositary or any of Ormat, the Company or any of their nominees or representatives to exercise, and no
course of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by the Depositary, the Company or any of Ormat or any of their nominees
or representatives of any right, power or remedy hereunder preclude any other or future exercise thereof or the exercise of any other right, power or remedy, nor shall any waiver 

  
 19 

 
of any single Default or Event of Default or other breach or default be deemed a waiver of any other Default or Event of Default or other breach or default theretofore or thereafter occurring.
All remedies either under this Agreement or by law or otherwise afforded to Ormat and/or the Company shall be cumulative and not alternative. 

Section 6.07 Severability 

If any provision of this Agreement or the application thereof shall be invalid or unenforceable to any extent in any jurisdiction,
(a) the remainder of this Agreement and the application of such remaining provisions shall not be affected thereby, (b) each such remaining provision shall be enforced to the greatest extent permitted by law and (c) such invalid or
unenforceable provision shall be enforced to the greatest extent permitted by law in every other jurisdiction. 
 Section 6.08 Successors and
Assigns 
 All covenants, agreements, representations and warranties in this Agreement by each party hereto shall bind and,
to the extent permitted hereby, shall inure to the benefit of and be enforceable by their respective successors and permitted assigns, whether so expressed or not. 
 Section 6.09 Execution in Counterparts 
 This Agreement may be executed in
any number of counterparts, each of which when so executed and delivered shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. Executed counterparts transmitted by facsimile or
electronic means shall be binding on the party delivering the same. 
 Section 6.10 Consequential Damages 

In no event (other than with respect to its own gross negligence, bad faith or willful misconduct) shall any party to this Agreement be
liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including lost profits), even if such Person has been advised of the likelihood of such loss or damage and regardless of the form of action. 

Section 6.11 Jurisdiction, Etc. 
 (a) Submission to Jurisdiction. Any legal action or proceeding with respect to this Agreement shall be brought in (i) the State of New York courts in the County of New York, (ii) the
United States District Court for the Southern District of New York, (iii) the State of New Mexico First Judicial District Court or the Second Judicial District Court, or (iv) the United States District Court for the District of New Mexico,
and, by execution and delivery of this Agreement, each party hereto hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each party hereto agrees that a
judgment, after exhaustion of all available appeals, in any such action or proceeding shall be conclusive and binding upon it, and may be enforced in any other jurisdiction, including by a suit upon such judgment, a certified copy of which shall be
conclusive evidence of the judgment. 

  
 20 

 (b) Waiver of Venue. Each party hereto hereby irrevocably waives any objection that
it may now have or hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Financing Document to which it is a party brought in the courts of the State of New York, County
of New York, the United States for the Southern District of New York, the State of New Mexico in the County of Hidalgo, or the United States for the District of New Mexico, and hereby further irrevocably waives any claim that any such suit, action
or proceeding brought in any such court has been brought in an inconvenient forum. 
 (c) WAIVER OF JURY TRIAL. EACH
PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY FINANCING DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES
HERETO OR ANY OF THEM WITH RESPECT TO ANY FINANCING DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND
CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 (e) Service of Process. Each party
hereto irrevocably consents to the service of process in the manner provided for notices in Section 6.02. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by
law. 
 Section 6.12 Process Agent 
 The Company irrevocably appoints CT Corporation System (the “Company Process Agent”), with an office on the date hereof at 111 Eighth Avenue, New York, N.Y. 10011 and at 123 East Marcy,
Santa Fe, NM 87501 and Ormat irrevocably appoints HIQ Corporate Services, Inc. (the “Ormat Process Agent”), with an office on the date hereof at One Commerce Plaza, 99 Washington Ave., Suite 805A, Albany, NY
12210-2822 and at 1012 Marquez Place Ste 106b, Santa Fe, NM 87501, as its agent and true and lawful attorney-in-fact in its name, place and stead to accept on behalf of such party and its property and revenues service of copies of the summons
and complaint and any other process which may be served in any suit, action or proceeding brought in the State of New York or the State of New Mexico, respectively, in connection with this Agreement, and each party agrees that the failure of the
Company Process Agent or Ormat Process Agent, as applicable, to give any notice of any such service of process to a party shall not impair or affect the validity of such service or, to the extent permitted by applicable law, the enforcement of any
judgment based thereon. Each party hereto irrevocably consents to the service of process in the manner provided for notices in Section 6.02. Nothing in this Agreement will affect the right of any party to this Agreement to serve process
in any other manner permitted by law. 

  
 21 

 Section 6.13 Limited Recourse 

The provisions of Section 8.15 of the Credit Agreement shall apply, mutatis mutandis, to this Agreement. Such provisions shall
survive the termination of this Agreement and by enforceable by any Non-Recourse Party, and are a material inducement for the parties’ execution of this Agreement and the other Financing Documents. 

Section 6.14 U.S.A. Patriot Act 
 The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Depositary, like all financial institutions and in order to help fight the funding of terrorism and
money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Depositary. The parties to this Agreement agree that they will provide
the Depositary with such information as it may request in order for the Depositary to satisfy the requirements of the U.S.A. Patriot Act. 

Section 6.15 Force Majeure 
 In no event shall the Depositary be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its
control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services; it being understood that the Depositary shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under
the circumstances. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 22 

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

			
	LIGHTNING DOCK GEOTHERMAL HI-01, LLC
		
	By:	 	 /s/ Nicholas Goodman

		 	Name: Nicholas Goodman
		 	Title:   President

  
 23 

 
			
	ORMAT NEVADA INC.
		
	By:	 	 /s/ Connie Stechman

		 	Name: Connie Stechman
		 	Title:   Assistant Secretary

  
 24 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Julius R. Zamora

		 	 Name: Julius R. Zamora
 Title:
  Vice President

  
 25 

 APPENDIX A 
 FORM OF RESTORATION REQUISITION 
 RESTORATION REQUISITION 

No.              

[Date] 
 Depositary 

under the Agreement 
 referred to below 
 Wells Fargo Bank, National Association 

45 Broadway, 14th Floor 
 New York, NY 10006

 Tel: (212) 515-1570 
 Fax:
(212) 515-1589 
 Attention: Corporate Trust Services 
  

	Re:	ACCOUNTS AGREEMENT (as amended, modified or otherwise supplemented from time to time, the “Agreement”) dated as of January     ,
2012, among Lightning Dock Geothermal HI-01, LLC., a Delaware limited liability company, Ormat Nevada Inc., a Delaware corporation and Wells Fargo, National Association, as the Depositary and Securities Intermediary. 

Ladies and Gentlemen: 
 This
requisition (this “Restoration Requisition”) is delivered to you pursuant to Section 3.04(b)(ii) of the Agreement. Initially-capitalized terms used and not otherwise defined herein shall have the meanings assigned
thereto in the Agreement. The Company hereby requests, and represents, warrants and certifies, as follows: 
  

	 	1.	The aggregate amount requested to be withdrawn from the Restoration Sub-Account in accordance with this Restoration Requisition is
$                    . 

  

	 	2.	The Disbursement Date on which the withdrawals and transfers pursuant to this Restoration Requisition are to be made is
            ,         . 

  

	 	3.	Set forth on Schedule I attached hereto is the name of each Person to whom any payment is to be made, the aggregate amount incurred on or prior to the
Disbursement Date or reasonably anticipated to be incurred within the thirty (30) day period following the Disbursement Date by such Person and a summary description of the work performed, services rendered, materials, equipment or supplies
delivered or any other purpose for which each payment was or is to be made. 

	 	4.	The proceeds of this Restoration Requisition withdrawn from the Restoration Sub-Account shall be used to pay the costs of rebuilding, restoration or repair of the
affected portion of the Project in accordance with the Restoration Budget and the Restoration Progress Payment Schedule, and the Depositary may properly charge such costs against the Restoration Sub-Account. 

 

	 	5.	The rebuilding, restoration, or repair costs which have been paid or for which payment is requested under this Restoration Requisition are in accordance with the
Restoration Budget and the Restoration Progress Payment Schedule. 

  

	 	6.	The costs of rebuilding, restoration or repair for which payment is requested under this Restoration Requisition from the Restoration Sub-Account have not been the
basis for any prior requisition by the Company. 

  

	 	7.	As of the date hereof, the undersigned has not received any written notice of any Lien, right to Lien or attachment upon, or claim affecting the right of the
undersigned to receive any portion of the amount of this Restoration Requisition (other than in respect of Permitted Liens), or in the event that the undersigned has received notice of any such Lien, attachment or claim (other than a Permitted
Lien), such Lien, attachment or claim has been released or discharged as of the date hereof or is expected to be released or discharged upon payment of the costs for which payment is requested under this Restoration Requisition.

  

	 	8.	 [Clause B of Section 3.04(b)(ii)] of the Agreement does not apply.]1 

  

			
	LIGHTNING DOCK GEOTHERMAL HI-01, LLC
		
	By:	 	  

		 	 Name:

Title:

  

	1 	 To be inserted in the event that the aggregate amount requested to be withdrawn or transferred from the Restoration Sub-Account in any consecutive
twelve (12)-month period with respect to any Event of Loss does not exceed the Loss Limit Amount in the aggregate. 

 Accepted and Agreed: 2 
  

			
	ORMAT NEVADA INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

	2 	 To be inserted in the event that the aggregate amount requested to be withdrawn or transferred from the Restoration Sub-Account in any consecutive
twelve (12)-month period with respect to any Event of Loss exceeds the Loss Limit Amount in the aggregate. 

  

					
	 Name
	  	Amount of Payment	  	Purpose
		  		  	

 PAYMENT INSTRUCTIONS 

 

	(i)	All payments in respect of the EPC Contract or the Advance Amount shall be paid to Ormat to: 

 

									
	 NAME OF BANK:
	  	 	[                    ]	  	  		  	
	 CITY, STATE, ZIP CODE:
	  	 	[                    ]	  	  		  	
	 ABA NUMBER:
	  	 	[                    ]	  	  		  	
	 ACCOUNT NAME:
	  	 	[                    ]	  	  		  	
	 ACCOUNT NUMBER:
	  	 	[                    ]	  	  		  	
	 FOR FURTHER CREDIT:
	  	 	[                    ]	  	  		  	
	 ATTN:
	  	 	[                    ]	  	  		  	

 APPENDIX B 
 FORM OF WITHDRAWAL CERTIFICATE 
 WITHDRAWAL CERTIFICATE No.
             
 [Date] 

Depositary 
 under the Agreement

 referred to below 

Wells Fargo Bank, National Association 
 45
Broadway, 14th Floor 
 New York, NY 10006 
 Tel: (212) 515-1570 
 Fax: (212) 515-1589 

Attention: Corporate Trust Services 
  

	Re:	ACCOUNTS AGREEMENT (as amended, modified or otherwise supplemented from time to time, the “Agreement”) dated as of January     ,
2012, among Lightning Dock Geothermal HI-01, LLC, a Delaware limited liability company (the “Company”), Ormat Nevada Inc., a Delaware corporation and Wells Fargo, National Association, as the Depositary and Securities Intermediary.

 Ladies and Gentlemen: 
 This withdrawal certificate (this “Withdrawal Certificate”) is delivered to you pursuant to Section 3.04(b)(ii) of the Agreement. Initially-capitalized terms used and not
otherwise defined herein shall have the meanings assigned thereto in the Agreement. 
 The Company hereby requests that the
transfers from the Revenue Account described on Schedule I attached hereto, in the order set forth on Schedule I, be made by the Depositary on
                    , 20    , a Funding Date. 
 The Company certifies that the amounts set forth in Schedule I hereto are, as applicable, due and payable or reflect the good faith estimate of amounts reasonably anticipated to be due and payable.
The Company agrees to provide reasonably detailed documents in support of any such amounts upon the request of Ormat. 

 The Company has caused this Withdrawal Certificate to be executed and delivered by its duly
authorized signatory this              day of                     ,
20    . 
  

			
	LIGHTNING DOCK GEOTHERMAL H1-01, LLC
		
	By	 	  

	Name
	Title

 SCHEDULE I TO WITHDRAWAL CERTIFICATE 

Section references are to the applicable section in the Accounts Agreement 

Monthly Date:                     

  

			
	 (1) FIRST – Section 3.01(c)(1)
	  	 Transfers to:

		
	 (a)     Operating and Maintenance Expenses
	  	 [List payees and amounts]
  

[May include Local Account]

		
	 (b)     Administrative Costs
	  	 [List payees or accounts and amounts]

		
	 (2) SECOND – Section 3.01(c)(2)
	  	
	  

(a)     Taxes

 

(b)     Insurance

 
 (c)     [List
other]
	  	 Revenue Account

		
	 (3) THIRD – Section 3.01(c)(3)
	  	
		
	 (a)     amounts then due and owing under the EPC Contract (during Company Cash Sweep Period
only)
	  	 [List payees and amounts]

		
	 (4) FOURTH – Section 3.01(c)(4)
	  	
		
	 All amounts remaining to the Company (during Company Cash Sweep Period only) unless Step in Event (Grant) occurring
	  	 [List amount]

		
	 (5) FIFTH – Section 3.01(c)(5)
	  	
		
	 (a)     Interest on Advance Amount
	  	 [List amount – or reference “amount to be calculated by Ormat as contemplated by Section
3.01(c)(5)”]

			
	 (6) SIXTH – Section 3.01(c)(6)
	  	
		
	 All amounts remaining
	  	 To Ormat as previously notified in writing by Ormat

 [Attach a schedule showing wire instructions for each account or payee] 

 APPENDIX C 
 FORM OF CONTROL NOTICE 
 To: 

Wells Fargo Bank, National Association 
 45 Broadway, 14th Floor 
 New York, NY 10006 

Tel: (212) 515-1570 
 Fax: (212) 515-1589 
 Attention: Corporate Trust Services 

 

	 	Re:	Lightning Dock Geothermal HI-01, LLC 

 Ladies and Gentlemen: 
 Reference is made to the Accounts Agreement dated as of
January     , 2012 among Lightning Dock Geothermal HI-01, LLC, Ormat Nevada Inc. and you. In accordance with Section 2.05 of the Agreement we hereby give you notice of our exercise of control of each Collateral Account.

  

			
	Ormat Nevada Inc.
		
	By:	 	  

 

			
	Title:	 	  

  

	 	cc:	Lightning Dock Geothermal HI-01, LLC 

 136 South Main Street, Suite 600 
 Salt Lake City, Utah 84101 

Attention: Nicholas Goodman 
 Fax: (801) 374-3314

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