Document:

EX-10.10b

 Exhibit 10.10b 
 November 9, 2012 (the “Effective Date”) 
 SolarCity Corporation 

3055 Clearview Way 
 San Mateo, CA 94127

  

	 	RE:	Consent Regarding Elmsford Landlord Waiver 

Ladies and Gentlemen: 
 Reference is made to
that certain Credit Agreement dated as of September 10, 2012 (the “Revolving Credit Agreement”) among SolarCity Corporation, a Delaware corporation (“Borrower”), the guarantors thereunder, the Lenders
thereunder (“Revolving Lenders”), Bank of America, N.A., as administrative agent (in such capacity, “Revolving Facility Agent”), and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as sole lead arranger
and sole book manager. 
 Pursuant to Section 6.18(a) of the Revolving Credit Agreement, Borrower is required to deliver, within sixty
(60) days of the Closing Date (i.e., on or before November 9, 2012), to Revolving Facility Agent and each Lender, a duly executed landlord waiver (the “Elmsford Landlord Waiver”) for the property located at 203 Ridgewood
Drive, Elmsford, New York 10523 (the “Elmsford Premises”). Borrower has informed Revolving Facility Agent that it will be unable to deliver the Elmsford Landlord Waiver by November 9, 2012. 

Revolving Facility Agent and Revolving Lenders (by their acceptance and agreement below) hereby consent and authorize the Borrower (i) on or before
December 9, 2012, to deliver the Elmsford Landlord Waiver in form and substance reasonably satisfactory to the Revolving Facility Agent; or (ii) on or before December 31, 2012, to provide evidence, in form and substance reasonably
satisfactory to the Revolving Facility Agent, that the aggregate value of the personal property Collateral located at the Elmsford Premises does not exceed $1,000,000. Revolving Facility Agent and Revolving Lenders further agree that such consents
and authorization shall be deemed to have been provided as of the Effective Date. 
 The consents set forth above shall be effective only in
this specific instance and for the specific purpose for which they are given, and such consents shall not entitle Borrower to any other or further consent or waiver in any similar or other circumstances. The consents set forth above shall be limited
precisely as written and shall not be deemed to (a) be a waiver or modification of any other term or condition of the Revolving Credit Agreement or any other Loan Document (as defined in the Revolving Credit Agreement) or (b) prejudice any
right or remedy which Revolving Facility Agent or Revolving Lenders may now have or may have in the future under or in connection with the Revolving Credit Agreement or any Loan Document (as defined in the Revolving Credit Agreement). 

This letter agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of an 

 
executed counterpart of this letter agreement by telefacsimile or other electronic transmission shall be equally as effective as delivery of an original executed counterpart of this letter
agreement. Any party delivering an executed counterpart of this letter agreement by telefacsimile or other electronic transmission shall also deliver an original executed counterpart of this letter agreement, but the failure to do so shall not
affect the validity, enforceability or binding effect of this letter agreement. 
 Please acknowledge your receipt of this letter agreement and
acceptance of the foregoing terms and conditions by signing and dating the enclosed counterpart of this letter agreement where indicated below and returning the same to the undersigned as soon as possible. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 2 

 If the foregoing is in accordance with your understanding, please sign and return this
letter agreement to us. 
  

			
	 Very truly yours,

	
	 BANK OF AMERICA, N.A.,

as Agent

		
	By:	 	  /s/ Dora Brown

		 	Dora Brown
		 	Vice President

  
 Consent
Letter (Landlord Waiver) - Revolving Credit Agreement 

 ACCEPTED AND AGREED TO 
 AS OF THE DATE FIRST ABOVE WRITTEN: 
  

			
	BANK OF AMERICA, N.A.,
	as Revolving Lender
		
	By:	 	  /s/ Thomas R. Sullivan

	Name:	 	Thomas R. Sullivan
	Title:	 	Senior Vice President

  
 Consent
Letter (Landlord Waiver) - Revolving Credit Agreement 

			
	 BRIDGE BANK, NATIONAL ASSOCIATION,

	as a Revolving Lender
		
	By:	 	  /s/ Molly Hendry

	Name:	 	Molly Hendry
	Title:	 	Vice President

  
 Consent
Letter (Landlord Waiver) - Revolving Credit Agreement 

			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
	as a Revolving Lender

			
		
	By:	 	  /s/ Mikhail Faybusovich

	Name: Mikhail Faybusovich
	Title:   Director
		
	By:	 	  /s/ Wei-Jen Yuan

	Name: Wei-Jen Yuan
	Title:   Associate

  
 Consent
Letter (Landlord Waiver) - Revolving Credit Agreement 

			
	SILICON VALLEY BANK,
	as a Revolving Lender

  

			
	By:	 	  /s/ Dan Baldi

	Name: Dan Baldi
	Title:   Deal Team Leader

  
 Consent
Letter (Landlord Waiver) - Revolving Credit Agreement 

			
	SOLARCITY CORPORATION

  

			
	By:	 	  /s/ Robert Kelly

	Name: Robert Kelly
	Title:   Chief Financial Officer

  
 Consent
Letter (Landlord Waiver) - Revolving Credit AgreementEX-10.10c

 Exhibit 10.10c 
 Effective as of December 31, 2012 (the “Effective Date”) 
 SolarCity Corporation

 3055 Clearview Way 
 San Mateo, CA
94127 
  

	 	RE:	Revolving Credit Agreement – Consent in connection with Debt Service Coverage Ratio, National Bank of Arizona Deposit Account, and Elmsford Landlord
Waiver 

 Ladies and Gentlemen: 
 Reference is made to that certain Credit Agreement dated as of September 10, 2012 (the “Revolving Credit Agreement”) among SolarCity Corporation, a Delaware corporation
(“Borrower”), the guarantors thereunder, the Lenders thereunder (“Revolving Lenders”), Bank of America, N.A., as administrative agent (in such capacity, “Revolving Facility Agent,” and together with
the Revolving Lenders signatory hereto and Borrower, collectively, the “Parties”), and Merrill Lynch, Pierce, Fenner & Smith incorporated, as sole lead arranger and sole book manager, as such agreement has been modified
pursuant to letter agreements dated as of September 28, 2012, October 12, 2012, and November 9, 2012, respectively. All capitalized terms used but not defined herein shall have the meanings given to them in the Revolving Credit
Agreement. 
  

	 	A.	In accordance with Section 7.11(a) of the Revolving Credit Agreement, Borrower is required to maintain a Debt Service Coverage Ratio as of the end of any
fiscal quarter of Borrower (including, but not limited to, the fiscal quarter ending March 31, 2013 (the “1Q2013 Test Period”)) of at least 1.25:1.00. The Borrower desires to amend the Revolving Credit Agreement to explicitly
exempt the 1Q2013 Test Period from the requirements of Section 7.11(a) thereof effective as of the Effective Date. Borrower hereby certifies that the information in Exhibit A attached hereto is true and correct in all
material respects. Borrower acknowledges that Revolving Facility Agent and Revolving Lenders are relying on the truth and accuracy of the information in Exhibit A in connection with their consent to amend the Revolving Credit Agreement
to exempt the 1Q2013 Test Period from the requirements of Section 7.11(a) thereof The Parties agree that, upon the execution and delivery of this letter by all Parties, Section 7.11(a) shall be deemed to be so amended, effective as
of the Effective Date. 

  

	 	B.	 In accordance with Section 6.18(c) and Section 6.18(d) of the Revolving Credit Agreement, Borrower was required to provide, on or before
December 31, 2012, a Qualifying Control Agreement for each deposit account maintained by any Loan Party at any financial institution. Borrower informed the Revolving Facility Agent and Revolving Lenders that Borrower’s deposit account
number AC0566015439 at the National Bank of Arizona (such account, the “NBA Account”) is a reserve account securing the Tax Equity Commitment of an Excluded Subsidiary and that Borrower cannot deliver a Qualifying Control Agreement
for the NBA Account without violating the applicable Tax Equity Document. Thus, Borrower desires to amend the Revolving Credit Agreement to 

	 	
explicitly exempt the NBA Account from the requirements of Section 6.18(c) and Section 6.18(d) thereof, effective as of the Effective Date. The Parties agree that, upon the execution
and delivery of this letter by all Parties, Sections 6.18(c) and 6.18(d) shall be deemed to be so amended, effective as of the Effective Date. 

  

	 	C.	In accordance with that certain Consent Regarding Elmsford Landlord Waiver letter agreement dated as of November 9, 2012 by and among the Parties, Borrower was
required to (i) on or before December 9, 2012, deliver a duly executed landlord waiver (the “Elmsford Landlord Waiver”) with respect to the warehouse facility located at 203 Ridgewood Drive, Elmsford, New York 10523 (the
“Elmsford Premises”) in form and substance reasonably satisfactory to the Revolving Facility Agent; or (ii) on or before December 31, 2012, provide evidence, in form and substance reasonably satisfactory to the Revolving
Facility Agent, that the aggregate value of the personal property Collateral located at the Elmsford Premises does not exceed $1,000,000. Borrower informed the Revolving Facility Agent and Revolving Lenders that Borrower is unable to deliver the
Elmsford Landlord Waiver in form reasonably satisfactory to the Revolving Facility Agent. Borrower requested, and by their execution and delivery of this letter, each of the Parties acknowledges, confirms and agrees, to waive the obligation of
Borrower to deliver the Elmsford Landlord Waiver. 

  

	 	D.	For purposes of clarification, by their execution and delivery of this letter, each of the Parties acknowledges, confirms and agrees that to the extent an estoppel
letter, consent or waiver is required to be delivered to the Revolving Facility Agent pursuant to Section 6.14(c) of the Revolving Credit Agreement, the Borrower is required only to use “commercially reasonable efforts” to obtain such
estoppel letters, consents or waivers under Section 6.14(c)(ii)(y)(B) of Revolving Credit Facility. 

 The consents set forth
above shall be effective only in this specific instance and for the specific purpose for which they are given, and such consents shall not entitle Borrower to any other or further consent or waiver in any similar or other circumstances. The consents
set forth above shall be limited precisely as written and shall not be deemed to (a) be a waiver or modification of any other term or condition of the Revolving Credit Agreement or any other Loan Document (as defined in the Revolving Credit
Agreement) or (b) prejudice any right or remedy which Revolving Facility Agent or Revolving Lenders may now have or may have in the future under or in connection with the Revolving Credit Agreement or any Loan Document (as defined in the
Revolving Credit Agreement). 
 This letter agreement may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of this letter agreement by telefacsimile or other
electronic transmission shall be equally as effective as delivery of an original executed counterpart of this letter agreement. Any party delivering an executed counterpart of this letter agreement by telefacsimile or other electronic transmission
shall also deliver an original executed counterpart of this letter agreement, but the failure to do so shall not affect the validity, enforceability or binding effect of this letter agreement. 

  
 2 

 Please acknowledge your acknowledgment, consent and agreement to the requests and statements
herein, please sign this letter agreement where indicated in the space below and return to us. 
  

			
	 Very truly yours,

	
	 BANK OF AMERICA, N.A.,

as Agent

		
	By:	 	  /s/ Dora Brown

	Name: Dora Brown
	Title: Vice President

  
 Consent
Letter 
 (Revolving Facility) 

 
			
	BANK OF AMERICA, N.A.,
	 as Revolving Agent

		
	By:	 	  /s/ Thomas R. Sullivan

	Name: Thomas R. Sullivan
	Title: Senior Vice President
	Date: 5/9/13

  
 Consent
Letter 
 (Revolving Facility) 

 
			
	BRIDGE BANK, NATIONAL ASSOCIATION,
	 as a Revolving Lender

		
	By:	 	  /s/ Molly Hendry

	 Name: Molly Hendry

	 Title: Vice President

	 Date: 5/10/13

  
 Consent
Letter 
 (Revolving Facility) 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
	 as a Revolving Lender

		
	By:	 	  /s/ Mikhail
Faybusovich

 
			
	Name: Mikhail Faybusovich
	Title: Authorized Signatory
	Date:	 	
		
	By:	 	  /s/ Tyler Smith

			
	Name: Tyler Smith
	Title: Authorized Signatory
	Date:	 	

  
 Consent
Letter 
 (Revolving Facility) 

 
			
	SILICON VALLEY BANK,
	as a Revolving Lender
		
	By:	 	  /s/ Mona Maitra

			
	 Name: Mona Maitra

	 Title: Vice President

	 Date: 5/8/13

  
 Consent
Letter 
 (Revolving Facility) 

			
	ACKNOWLEDGED, AGREED AND CONSENT TO:
	
	 SOLARCITY CORPORATION,
 as Borrower

		
	By:	 	  /s/ Robert Kelly

	Name: Robert Kelly
	Title: Chief Financial Officer

  
 Consent
Letter 
 (Revolving Facility)

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