Document:

Exhibit 10.1

  

  

  

  
    
      EXECUTION VERSION

    

     

    MEMBERSHIP INTEREST PURCHASE AGREEMENT

     

    between

    

    

    WGL ENERGY SYSTEMS, INC.,

     

    WGSW, INC.,

     

    

    and

    

    

    TERRAFORM ARCADIA HOLDINGS, LLC

     

    dated as of

    

    

    July 19, 2019

     

    

    
      
        

    

    
    
      Table of Contents

       

    

    	 	
            Page

          
	 	 
	
            ARTICLE I DEFINITIONS

          	
            2

          
	 	
            Section 1.01

          	
            Definitions

          	
            2

          
	
            ARTICLE II PURCHASE AND SALE

          	
            17

          
	 	
            Section 2.01

          	
            Purchase and Sale

          	
            17

          
	 	
            Section 2.02

          	
            Purchase Price

          	
            17

          
	 	
            Section 2.03

          	
            Deposit

          	17
	 	
            Section 2.04

          	
            Working Capital Adjustment to Purchase Price

          	
            18

          
	 	
            Section 2.05

          	
            Effective Date Deliverables

          	
            20

          
	 	
            Section 2.06

          	
            Transactions at the Closing

          	
            20

          
	 	
            Section 2.07

          	
            Closing

          	20
	
            ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER REGARDING THE SELLER AND THE COMPANIES

          	
            21

          
	 	
            Section 3.01

          	
            Organization and Authority of Seller

          	
            21

          
	 	
            Section 3.02

          	
            Organization, Authority and Qualification of the Company

          	21
	 	
            Section 3.03

          	
            Ownership of the Companies

          	22
	 	
            Section 3.04

          	
            Subsidiaries of the Companies

          	
            23

          
	 	
            Section 3.05

          	
            No Conflicts; Consents

          	23
	 	
            Section 3.06

          	
            Financial Statements

          	
            24

          
	 	
            Section 3.07

          	
            Undisclosed Liabilities

          	24
	 	
            Section 3.08

          	
            Absence of Certain Changes

          	24
	 	
            Section 3.09

          	
            Company Contracts

          	
            25

          
	 	
            Section 3.10

          	
            Intellectual Property

          	
            26

          
	 	
            Section 3.11

          	
            Insurance

          	26
	 	
            Section 3.12

          	
            Legal Proceedings; Governmental Orders

          	26
	 	
            Section 3.13

          	
            Compliance with Laws; Permits

          	
            27

          
	 	
            Section 3.14

          	
            Environmental Matters

          	27
	 	
            Section 3.15

          	
            Employment Matters

          	
            28

          
	 	
            Section 3.16

          	
            Taxes

          	28
	 	
            Section 3.17

          	
            Brokers

          	
            30

          
	 	
            Section 3.18

          	
            Affiliate Transactions

          	
            30

          
	 	
            Section 3.19

          	
            Indebtedness

          	30

    

    

    
      i

      
        

    

    
      Table of Contents

        (continued)

       

    

    	 	 	 	
            Page

          
	 	 	 	 
	 	
            Section 3.20

          	
            Regulatory Matters

          	30
	 	
            Section 3.21

          	
            Illegal Payments

          	
            31

          
	 	
            Section 3.22

          	
            Investment Company

          	31
	 	
            Section 3.23

          	
            Specified Credit Support Obligations

          	31
	 	
            Section 3.24

          	
            CFIUS

          	
            32

          
	 	
            Section 3.25

          	
            Interpretation for Certain Sections of Article III

          	
            32

          
	 	
            Section 3.26

          	
            No Other Representations and Warranties

          	32
	
            ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLERS REGARDING THE PROJECTS

          	32
	 	
            Section 4.01

          	
            Projects

          	32
	 	
            Section 4.02

          	
            Project Assets

          	
            33

          
	 	
            Section 4.03

          	
            Permits

          	33
	 	
            Section 4.04

          	
            Project Contracts

          	
            34

          
	 	
            Section 4.05

          	
            Real Property

          	35
	 	
            Section 4.06

          	
            Project Reports

          	36
	 	
            Section 4.07

          	
            Regulatory Status

          	
            36

          
	 	
            Section 4.08

          	
            Interpretation for Certain Sections of Article IV

          	
            37

          
	
            ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER

          	37
	 	
            Section 5.01

          	
            Organization and Authority of Buyer

          	
            37

          
	 	
            Section 5.02

          	
            No Conflicts; Consents

          	
            37

          
	 	
            Section 5.03

          	
            Investment Purpose

          	
            38

          
	 	
            Section 5.04

          	
            Brokers

          	
            38

          
	 	
            Section 5.05

          	
            Sufficiency of Funds

          	
            38

          
	 	
            Section 5.06

          	
            Legal Proceedings

          	
            38

          
	 	
            Section 5.07

          	
            Regulatory Matters

          	
            38

          
	 	
            Section 5.08

          	
            Project Insurance

          	
            38

          
	 	
            Section 5.09

          	
            Independent Investigation

          	
            39

          
	 	
            Section 5.10

          	
            Compliance with Laws

          	39

    

    

    
      ii

      
        

    

    
      Table of Contents

        (continued)

    

    

    

    	 	 	 	
            Page

          
	 	 	 	 
	
            ARTICLE VI COVENANTS

          	39
	 	Section 6.01	
            Conduct of Business Prior to the Closing

          	39
	 	
            Section 6.02

          	
            Access to Information

          	
            41

          
	 	
            Section 6.03

          	
            Supplement to Schedules

          	
            41

          
	 	
            Section 6.04

          	
            Officer, Manager and Director Indemnification

          	
            42

          
	 	
            Section 6.05

          	
            Confidentiality

          	
            43

          
	 	
            Section 6.06

          	
            Governmental Approvals and Other Third-Party Consents

          	
            44

          
	 	
            Section 6.07

          	
            Books and Records

          	
            46

          
	 	
            Section 6.08

          	
            Closing Conditions

          	
            46

          
	 	
            Section 6.09

          	
            Public Announcements

          	
            46

          
	 	
            Section 6.10

          	
            Further Assurances

          	
            47

          
	 	
            Section 6.11

          	
            Delayed Project Transfer

          	
            47

          
	 	
            Section 6.12

          	
            Excluded Assets

          	49
	 	
            Section 6.13

          	
            Return of Support Obligations

          	49
	 	
            Section 6.14

          	
            SFGF II’s Approved Project Company Purchase Obligations

          	
            50

          
	 	
            Section 6.15

          	
            Remediation Expenditures

          	
            51

          
	 	
            Section 6.16

          	
            [RESERVED]

          	
            51

          
	 	
            Section 6.17

          	
            Residential Solar Service Provider

          	
            51

          
	 	
            Section 6.18

          	
            Audit Support

          	
            52

          
	 	
            Section 6.19

          	
            Charter Documents

          	
            52

          
	 	
            Section 6.20

          	
            Project Insurance Claims

          	
            52

          
	 	
            Section 6.21

          	
            Portfolio Economic Benefits

          	
            52

          
	 	
            Section 6.22

          	
            Existing Litigation

          	
            53

          
	 	
            Section 6.23

          	
            Property Tax Appeals

          	
            53

          
	 	
            Section 6.24

          	
            Fuel Cell Project FERC Filing

          	
            53

          
	
            ARTICLE VII TAX MATTERS

          	
            54

          
	 	
            Section 7.01

          	
            Purchase Price Tax Allocation

          	
            54

          
	 	
            Section 7.02

          	
            Tax Covenants

          	
            54

          
	 	
            Section 7.03

          	
            Tax Indemnification

          	
            54

          
	 	
            Section 7.04

          	
            Straddle Period

          	
            55

          
	 	
            Section 7.05

          	
            Contests

          	
            55

          

    

    

    
      iii

      
        

    

    
      Table of Contents

        (continued)

    

    

    

    	 	 	 	
            Page

          
	 	 	 	 
	 	
            Section 7.06

          	
            Tax Refunds and Credits

          	
            55

          
	 	
            Section 7.07

          	
            Cooperation and Exchange of Information

          	
            55

          
	 	
            Section 7.08

          	
            Tax Treatment of Indemnification Payments

          	
            56

          
	 	
            Section 7.09

          	
            Survival

          	
            56

          
	 	
            Section 7.10

          	
            Transfer Taxes

          	
            56

          
	 	
            Section 7.11

          	
            Overlap with Indemnification

          	
            56

          
	
            ARTICLE VIII CONDITIONS TO CLOSING

          	
            56

          
	 	
            Section 8.01

          	
            Conditions to Obligations of All Parties

          	
            56

          
	 	
            Section 8.02

          	
            Conditions to Obligations of Buyer

          	
            57

          
	 	
            Section 8.03

          	
            Conditions to Obligations of Sellers

          	
            59

            

          
	
            ARTICLE IX INDEMNIFICATION

          	
            60

          
	 	
            Section 9.01

          	
            Survival

          	
            60

          
	 	
            Section 9.02

          	
            Indemnification by Sellers

          	
            61

          
	 	
            Section 9.03

          	
            Indemnification by Buyer

          	
            61

          
	 	
            Section 9.04

          	
            Certain Limitations

          	
            61

          
	 	
            Section 9.05

          	
            Indemnification Procedures

          	
            63

          
	 	
            Section 9.06

          	
            Tax Treatment of Indemnification Payments

          	
            64

          
	 	
            Section 9.07

          	
            Exclusive Remedies

          	
            65

          
	
            ARTICLE X TERMINATION

          	
            65

          
	 	
            Section 10.01

          	
            Termination

          	
            65

          
	 	
            Section 10.02

          	
            Termination Fee

          	
            66

          
	 	
            Section 10.03

          	
            Effect of Termination

          	
            67

          
	
            ARTICLE XI MISCELLANEOUS

          	67
	 	
            Section 11.01

          	
            Expenses

          	67
	 	
            Section 11.02

          	
            Notices

          	68
	 	
            Section 11.03

          	
            Interpretation

          	68
	 	
            Section 11.04

          	
            Headings

          	
            69

            

          
	 	
            Section 11.05

          	
            Severability

          	69
	 	
            Section 11.06

          	
            Entire Agreement

          	
            69

          
	 	
            Section 11.07

          	
            Successors and Assigns

          	70

    

    

    
      iv

      
        

    

    
      Table of Contents

        (continued)

       

      

    

    	 	 	 	
            Page

          
	 	 	 	 
	 	
            Section 11.08

          	
            No Third-Party Beneficiaries

          	70
	 	
            Section 11.09

          	
            Amendment and Modification; Waiver

          	70
	 	
            Section 11.10

          	
            Governing Law; Submission to Jurisdiction; Waiver of Jury Trial

          	70
	 	
            Section 11.11

          	
            Specific Performance

          	71
	 	
            Section 11.12

          	
            Counterparts

          	71

          
	 	
            Section 11.13

          	
            Non-Recourse

          	71

    

    

    	
            Annex

          
	
            Annex I

          	
            Additional Closing Deliverables

          
	
            Annex II

          	
            Company Subsidiaries and Projects

          
	
            Annex III

          	
            Base Purchase Price

          
	
            Annex IV

          	
            Allocation of Base Purchase Price by Project

          
	
            Annex V

          	
            ASD Solar Base Purchase Price

          

    

    

    	
            Exhibits

          
	
            Exhibit A

          	
            Form of Membership Interest Assignment Agreement

          
	
            Exhibit B

          	
            Form of Buyer Parent Guaranty

          
	
            Exhibit C

          	
            Form of Seller Parent Guaranty

          
	
            Exhibit D

          	
            Sample Net Working Capital Calculation

          
	
            Exhibit E

          	
            Sellers’ Knowledge Persons

          
	
            Exhibit F

          	
            Arcadia Fuel Cell Project Asset Transfer Agreement

          
	
            Exhibit G-1

          	
            Arcadia Solar Transfer Agreement

          
	
            Exhibit G-2

          	
            Arcadia Solar Ownership Interest Transfer Agreement

          
	
            Exhibit H

          	
            Form of Escrow Agreement

          

    

    

    	
            Seller Schedules

          
	
            Schedule 2.06(a)(iii)

          	
            Seller Cash Collateral

          
	
            Schedule 3.03(e)

          	
            Ownership Matters

          
	
            Schedule 3.04(a)

          	
            Subsidiaries of the Company

          
	
            Schedule 3.04(c)

          	
            Subsidiary Matters

          
	
            Schedule 3.05

          	
            Seller Consents and Notices

          
	
            Schedule 3.07

          	
            Company Liabilities

          
	
            Schedule 3.09(a)

          	
            Company Contracts

          
	
            Schedule 3.09(b)

          	
            Contract Defaults

          
	
            Schedule 3.10(a)

          	
            Company Intellectual Property

          
	
            Schedule 3.10(b)

          	
            Intellectual Property Matters

          
	
            Schedule 3.12(a)

          	
            Legal Proceedings

          

    
      v

      
        

    

    Table of Contents

        (continued) 

    

    

    	 	Page
	 	 
	
            Schedule 3.12(b)

          	
            Governmental Orders

          
	
            Schedule 3.13(a)

          	
            Compliance with Laws

          
	
            Schedule 3.13(b)

          	
            Permit Matters

          
	
            Schedule 3.14

          	
            Environmental Matters

          
	
            Schedule 3.16

          	
            Tax Matters

          
	
            Schedule 3.18

          	
            Affiliate Transactions

          
	
            Schedule 3.19

          	
            Indebtedness

          
	
            Schedule 3.23

          	
            Credit Support Obligations

          
	
            Schedule 4.02(c)

          	
            Project Asset Liens

          
	
            Schedule 4.03

          	
            Permits

          
	
            Schedule 4.04

          	
            Project Contracts

          
	
            Schedule 4.04(e)

          	
            Project Contract Indemnity Claims

          
	
            Schedule 4.05(f)

          	
            Real Property Matters

          
	
            Schedule 4.07

          	
            Regulatory Status

          

    

    

    	
            Buyer Schedules

          	 
	
            Schedule 5.02

          	
            Buyer Consents, Notices and Filings

          

    

    

    	
            Other Schedules

          	 
	
            Schedule 6.04(a)

          	
            Director and Officer Agreements

          
	
            Schedule 6.13

          	
            Unreleased Support Obligations

          
	
            Schedule 6.14(a)

          	
            SFGF II Approved Projects

          
	
            Schedule 6.14(c)

          	
            Incomplete Project

          
	
            Schedule 6.15

          	
            Remediation Expenditures

          
	
            Schedule 7.06

          	
            Property Tax Refund Claims

          

    

    

    
      vi

      
        

    

    MEMBERSHIP INTEREST PURCHASE AGREEMENT

    

    

    This Membership Interest Purchase Agreement (this “Agreement”), dated as of July 19, 2019 (the “Effective

          Date”), is entered into by and among WGL Energy Systems, Inc., a Delaware corporation (“WGL Seller”), WGSW, Inc., a Delaware corporation (“WGSW Seller”, and together with WGL Seller, the “Sellers” and each, a “Seller”) and TerraForm
      Arcadia Holdings, LLC, a Delaware limited liability company (“Buyer”).

    

    

    RECITALS

    

    

    WHEREAS, as of the Effective Date, WGL Seller and WGL Energy Services, Inc. (“WGL Energy Services”), an Affiliate (as defined below) of WGL Seller, own
      one hundred percent (100%) of the issued and outstanding membership interests in the Subsidiaries (as defined below) and the electric energy generating Projects (as defined below) set forth beneath their names on Annex II (collectively, the “Wholly Owned Assets”);

    

    

    WHEREAS, WGL Seller owns one hundred percent (100%) of the issued and outstanding membership interests (the “AS Membership Interests”) of Arcadia Solar, LLC, a Delaware limited liability company (“Arcadia Solar”) which, after giving effect to the Project Asset Transfer and as of the
      Closing Date, owns the solar photovoltaic electric energy generating Projects set forth beneath its name on Annex II;

    

    

    WHEREAS, WGL Seller owns one hundred percent (100%) of the issued and outstanding membership interests (the “AFC Membership Interests”) of Arcadia Fuel Cell, LLC, a Delaware limited liability company (“Arcadia Fuel Cell”) which, after giving effect to the Project Asset Transfer and as
      of the Closing Date, owns the fuel cell energy Projects set forth beneath its name on Annex II;

    

    

    WHEREAS, WGSW Seller owns:

    

    

    (a) one hundred percent (100%) of the issued and outstanding Class B Units (as defined below) (the “SFEE Membership Interests”) of SFEE, LLC, a Delaware limited liability company (“SFEE”) which directly owns the Company Subsidiary (as defined below) and indirectly owns the Project
      set forth beneath its name on Annex II;

    

    

    (b) one hundred percent (100%) of the issued and outstanding Class B Units (the “SFGF Membership

          Interests”) of SFGF, LLC, a Delaware limited liability company (“SFGF”) which directly owns the Company Subsidiary and indirectly owns the Projects set forth beneath its name on Annex
        II;

    

    

    (c) one hundred percent (100%) of the issued and outstanding Class B Units (the “SFGF II Membership

          Interests”) of SFGF II, LLC, a Delaware limited liability company (“SFGF II”) which directly owns the Project Companies (as defined below) and indirectly owns the Projects set forth
      beneath its name on Annex II;

    

    

    
      
        

    

    
    (d) one hundred percent (100%) of the issued and outstanding Class B Membership Interests (as defined below) (the “SFRC Membership Interests”) of SFRC, LLC, a Delaware limited liability company (“SFRC”) which directly owns the Project Companies and indirectly owns the Projects set
      forth beneath its name on Annex II; and

    

    

    (e) one hundred percent (100%) of the issued and outstanding membership interests (the “SF ECHO Membership

          Interests”) of SF ECHO LLC, a Delaware limited liability company (“SF ECHO”) which maintains and operates the residential solar Projects set forth beneath its name on Annex II;

    

    

    WHEREAS, WGL Seller and its Affiliates desire to contribute, pursuant to the Project Asset Transfer Agreements and the terms and conditions set forth in this Agreement, all assets, assign all
      contracts and liabilities and perform other actions necessary to transfer the Wholly Owned Assets to Arcadia Solar and Arcadia Fuel Cell, respectively, prior to Closing (such actions, collectively, the “Project
          Asset Transfer”);

    

    

    WHEREAS, Sellers wish to sell to Buyer, and Buyer wishes to purchase from Sellers, the Membership Interests (as defined below), subject to the terms and conditions set forth herein;

    

    

    NOW, THEREFORE, in consideration of the respective representations, warranties, covenants, agreements, and conditions in this Agreement, and other good and valuable consideration, the sufficiency of
      which is hereby acknowledged, the Parties agree as follows:

    

    

    ARTICLE I

    Definitions

    

    

    Section 1.01          Definitions.  The following capitalized terms shall have the respective meanings set forth below: 

    

    

    “Action” means (i) any litigation, hearing, suit or arbitration, or (ii) any complaint, investigation, proceeding or claim of which the applicable
      Person has received written notice, in each case, by or before any Governmental Authority.

    

    

    “Adjustment Variance” means the absolute value of the difference between: (a) the Working Capital determination made by the Neutral Auditor; minus (b) the Working Capital position of Buyer or Sellers, as applicable.

    

    

    “AFC Membership Interests” has the meaning set forth in the Recitals.

    

    

    
      2

      
        

    

    “Affiliate” of a specified Person means any other Person that, directly or indirectly, through one or more intermediaries,
      controls, is controlled by, or is under common control with, such Person. Notwithstanding the foregoing, each Company and Company Subsidiary shall be considered an Affiliate of Sellers with respect to all periods prior to and at the Closing, and each
      Company and Company Subsidiary shall be considered an Affiliate of Buyer only with respect to periods after the Closing.  The term “control” (including the terms “controlled by” and “under common control with”)
      means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities or its capacity as sole or managing member or general partner,
      by contract or otherwise.  For purposes of this Agreement (i) no Seller shall be deemed an “Affiliate” of the other; and (ii) no entity shall be deemed an “Affiliate” of the Buyer unless it is a direct or indirect subsidiary of TerraForm Power, Inc.

    

    

    “Agreement” has the meaning set forth in the Preamble.

    

    

    “AMA” means, with respect to each Project, the applicable asset management agreement listed on Schedule 4.04.

    

    

    “Arcadia Fuel Cell” has the meaning set forth in the Recitals.

    

    

    “Arcadia Solar” has the meaning set forth in the Recitals.

    

    

    “Arcadia Fuel Cell Project Asset Transfer Agreement” means the Project Asset Transfer Agreement by and among WGL Seller and Arcadia Fuel Cell, which
      shall be substantially in the form of Exhibit F.

    

    

    “Arcadia Solar Transfer Agreement” means either: (a) the Project Asset Transfer Agreement by and between WGL Seller or WGL Energy Services, as
      applicable, and Arcadia Solar; or (b) the Ownership Interest Assignment Agreement by and between WGL Seller and Arcadia Solar, each of which shall be substantially in the form of Exhibit G-1 or Exhibit G-2, as applicable.

    

    

    “AS Membership Interests” has the meaning set forth in the Recitals.

    

    

    “Assignment Agreement” means, with respect to the: (a) AS Membership Interests, AFC Membership Interests and SF ECHO Membership Interests, one or more
      Membership Interest Assignment Agreements, by and between Sellers and Buyer, in each case substantially in the form attached as Exhibit A; (b) SFGF II Membership Interests, a Membership Interest Assignment Agreement in the form attached as
      Exhibit E to the SFGF II LLC Agreement; (c) SFGF Membership Interests, a Membership Interest Assignment Agreement in the form attached as Exhibit F to the SFGF limited liability company agreement; (d) SFEE Membership Interests, a Membership Interest
      Assignment Agreement in the form attached as Exhibit F to the SFEE limited liability company agreement; and (e) SFRC Membership Interests, a Membership Interest Assignment Agreement in a form mutually agreed to among WSGW Seller, Buyer and RBC Tax
      Credit VI, LLC.

    

    

    
      3

      
        

    

    “Base Purchase Price” means the “Base Purchase Price” set forth on Annex III.

    

    

    “Business Day” means a day other than Saturday, Sunday or any day on which banks that are members of the United States Federal
      Reserve System are authorized or obligated to close.

    

    

    “Buyer” has the meaning set forth in the Preamble.

    

    

    “Buyer Fundamental Representations” means the representations and warranties of Buyer contained in Section 5.01.

    

    

    “Buyer Indemnified Parties” has the meaning set forth in Section 9.02.

    

    

    “Buyer Parent Guaranty” means a guaranty agreement in favor of Sellers, substantially in the form attached as Exhibit B executed by TerraForm
      Power Operating, LLC or another Person that either has: (a) a credit rating of “BBB-” or higher by S&P or “Baa3” or higher by Moody’s; or (b) a tangible net worth of at least $350,000,000.

    

    

    “Buyer Related Parties” has the meaning set forth in Section 10.02(b).

    

    

    “Canadian Securities Laws” means the securities acts or similar statutes of each of the provinces of Canada and all rules, regulations, policy
      statements, notices and blanket orders or rulings thereunder.

    

    

    “CFIUS” means the Committee on Foreign Investment in the United States.

    

    

    “Charter Documents” means, with respect to any Person that is an entity, all organizational documents and all limited liability company agreements,
      member agreements or similar Contracts relating to the ownership or governance of such Person.

    

    

    “Claim Threshold” has the meaning set forth in Section 9.04(a).

    

    

    “Class B Membership Interests” has the meaning set forth in the limited liability company agreement of SFRC.

    

    

    “Class B Units” has the meaning set forth in the limited liability company agreement of SFEE, SFGF, SFGF II, and SFRC, as applicable.

    

    

    “Closing” has the meaning set forth in Section 2.07.

    

    

    “Closing Date” has the meaning set forth in Section 2.07.

    

    

    “Closing Payment” has the meaning set forth in Section 2.02.

    

    

    “Code” means the United States Internal Revenue Code of 1986, or any successor statute.

    

    

    
      4

      
        

    

    “Company” and “Companies” means, individually, or collectively, as the context
      requires Arcadia Solar, Arcadia Fuel Cell, SFEE, SFGF, SFGF II, SFRC and SF ECHO.

    

    

    “Company Contracts” has the meaning set forth in Section 3.09(a).

    

    

    “Company Intellectual Property” has the meaning set forth in Section 3.10(a).

    

    

    “Company Subsidiary” means each Subsidiary set forth in Schedule 3.04(a).

    

    

    “Completion Deadline” has the meaning set forth in the SFGF II MPA.

    

    

    “Confidentiality Agreement” means the Letter Agreement Regarding Confidential Treatment of Evaluation Material and Transaction
      Documents, dated as of April 4, 2019 among Buyer’s affiliate, Brookfield Renewable Power Inc., and Sellers, as amended by an addendum executed parties thereto on May 16, 2019.

    

    

    “Contract” means any agreement, purchase order, commitment, mortgage, indenture, security agreement or other instrument or contract, entered into by a
      Person or by which a Person or any of its assets are bound.

    

    

    “DAS Agreements” means, with respect to each Project, the applicable data acquisition systems services agreements set forth on Schedule 4.04.

    

    

    “Data Room” means the virtual data room hosted by Intralinks and titled “Project Arcadia” which Buyer and its Representatives and
      counsel have been given access as such exists up to and until the Closing Date.

    

    

    “Deductible” has the meaning set forth in Section 9.04(b).

    

    

    “Deposit” has the meaning set forth in Section 2.03.

    

    

    “Direct Claim” has the meaning set forth in Section 9.05(c).

    

    

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

    

    

    “Echo Assignment Agreement” means the Assignment and Assumption Agreement, by and between EchoFirst Finance Co., LLC, WSGW Seller, and SF Echo LLC,
      dated as of April 5, 2017.

    

    

    “Echo Master Lease Agreement”
        means the Amended and Restated Master Lease Agreement, by and between WSGW Seller and SF Echo LLC, dated as of April 4, 2017.

    

    

    “Effective Date” has the meaning set forth in the Preamble.

    

    

    “Encumbrance” means any lien, pledge, mortgage, deed of trust, security interest, charge, claim, easement, encroachment,
      restriction, covenant or other similar encumbrance.

    

    

    “Environmental Claim” means any written notice of any claim or Action alleging liability for any actual or alleged violation of any
      Environmental Law.

    

    

    
      5

      
        

    

    “Environmental Law” means all Laws pertaining to: (a) the generation, transport,  storage, disposal, or release of Hazardous
      Materials; (b) protection of human health or safety; or (c) protection of the environment (with respect to air, surface or subsurface land and waters, cultural resources and natural resources), including the Comprehensive Environmental Response,
      Compensation and Liability Act of 1980 (42 U.S.C. § 9601 et seq.), the Emergency Planning and Community Right to Know Act (42 U.S.C. § 11001 et seq.), the Resource
      Conservation and Recovery Act of 1976 (42 U.S.C. § 6901 et seq.), the Clean Air Act (42 U.S.C. § 7401 et seq.), the Federal Water Pollution Control Act (also known as
      the Clean Water Act) (33 U.S.C. § 1251 et seq.), Rivers and Harbors Act of 1899, (33 U.S.C. § 403), the Toxic Substances Control Act (15 U.S.C. § 2601 et seq.), the
      Safe Drinking Water Act (42 U.S.C. § 300f et seq.), the Endangered Species Act (16 U.S.C. § 1531 et seq.), the Oil Pollution Act of 1990 (33 U.S.C. § 2701 et seq.), the Hazardous Materials Transportation Act (49 U.S.C. § 5101 et seq.), the National Environmental Policy Act of 1969 (42 U.S. C. §§4321 – 4370h), and the
      National Historic Preservation Act (54 U.S.C. § 306108.) and any analogous state and local statutes or regulations promulgated thereunder, as each of the foregoing may be amended or supplemented from time to
      time.

    

    

    “EPC Contract” means, with respect to each Project, the applicable engineering, procurement and construction agreement, if any, set forth on Schedule

        4.04.

    

    

    “Escrow Agent” means the Person identified as the “Escrow Agent” pursuant to the Escrow Agreement.

    

    

    “Escrow Agreement” means an agreement between the Buyer, the Sellers, and the Escrow Agent substantially in the form attached hereto as Exhibit H.

    

    

    “Estimated Adjustment Statement” means the statement of the amount of the estimated Working Capital of each Company as of September 1, 2019 consistent
      with the methodology set forth on Exhibit D and of the estimated Portfolio Leakage Amount as of the Closing.

    

    

    “Existing Litigation” means individually or collectively, as the context may require, the matters and circumstances relating to items 1 and 2 on Schedule

        3.12(a) (under the heading “Pending litigation”).

    

    

    “EWG” an “exempt wholesale generator” under PUHCA and the implementing regulations of FERC.

    

    

    “Excluded Assets” means, collectively: (a) all rights, privileges, refunds, adjustments and claims relating to or
        pertaining to the Projects arising under, or related to, the Company Contracts, the Project Contracts, or the Real Property Agreements, as applicable, for the period prior to September 1, 2019 (including, if received or payable on or after
        September 1, 2019); (b) all claims for property tax refunds listed on Schedule 7.06 and all amounts received in respect of any such claims (including
        if received or payable on or after September 1, 2019); and (c) any accounts receivable that are more than forty-five (45) days overdue.  For the avoidance of doubt, amounts included in or adjusted for
        in Working Capital shall not be deemed Excluded Assets.

    

    

    
      6

      
        

    

    “Excluded Project” means any Project that is: (a) (i) not owned by any Company or Company Subsidiary at Closing as a result of (x) any right held by a
      third party as set forth on Schedule 3.03(e), Schedule 3.04(c) or Schedule 4.02(c), or (y) any other circumstance outside of the control of either Seller; or (ii) set forth on Schedule 6.14(a) or Schedule 6.14(c)
      at Closing and (b) not subject to a written agreement among Buyer and the Sellers in accordance with the terms of Section 6.11(c).

    

    

    “FERC” means the Federal Energy Regulatory Commission.

    

    

    “Final Adjustment Statement” has the meaning set forth in Section 2.04(e).

    

    

    “Final Leakage Amount” means the Portfolio Leakage Amount as set forth in the Final Adjustment Statement.

    

    

    “Final Net Working Capital” means the Working Capital as set forth in the Final Adjustment Statement.

    

    

    “Final Purchase Price Adjustment” has the meaning set forth in Section 2.04(f).

    

    

    “Final Reconciliation Disputes” has the meaning set forth in Section 2.04(e).

    

    

    “Financial Statements” has the meaning set forth in Section 3.06.

    

    

    “FPA” means the Federal Power Act.

    

    

    “Fraud” means: (a) a false representation of a material fact by a Person; (b) made with knowledge or belief of its falsity; (c) with the intent of
      inducing another Person to act, or refrain from acting, to such other Person’s detriment; and (d) upon which such other Person acted or did not act in reliance on the representation, with resulting Losses, and which shall expressly exclude any other
      claim of fraud that does not include the elements set forth in this definition, including constructive fraud, negligent misrepresentation or any similar theory.

    

    

    “FUCO” means a “foreign utility company” as such term is defined at 18 C.F.R. Section 366.1.

    

    

    “Fundamental Representations” means, collectively, the Seller Fundamental Representations and the Buyer Fundamental Representations.

    

    

    “GAAP” means United States generally accepted accounting principles in effect from time to time.

    

    

    “Good Utility Practices” means the practices, methods and acts engaged in by a significant portion of the solar energy industry and, to the extent
      applicable, the electric generation industry that, at a particular time, in the exercise of reasonable judgment in light of the facts known or that reasonably should have been known at a time a decision was made, would have been expected to
      accomplish the desired result in a manner consistent with applicable Law and standards relating to reliability, safety, environmental protection, economy and expedition.  Good Utility Practice is not intended to be limited to the optimum practice,
      method or act, to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts that would reasonably be expected to accomplish the desired result.

    

    

    
      7

      
        

    

    “Governmental Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or
      instrumentality of such government or political subdivision, or any arbitrator, court or tribunal, in each case, with legal jurisdiction over the matter or Person in question, including, for the avoidance of doubt, FERC.

    

    

    “Governmental Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with
      any Governmental Authority.

    

    

    “Hazardous Materials” means any substance that is defined, listed, regulated, or designated as a hazardous waste, hazardous
      substance, hazardous material or toxic substance (or words of similar intent or meaning) under any Environmental Law including without limitation any petroleum or petroleum-derived substance, asbestos, or polychlorinated biphenyls.

    

    

    “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

    

    

    “Indebtedness” means, with respect to any Person, without duplication: (a) all obligations of such Person for borrowed money; (b) all obligations of
      such Person evidenced by bonds, debentures, notes or other similar instruments; (c) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable arising in the ordinary course of
      business not overdue for more than sixty (60) days); (d) all capital lease obligations of such Person; (e) all obligations of such Person to reimburse any Person with respect to amounts paid under a letter of credit or similar instrument; (f) all
      obligations of such Person under interest rate hedge agreements; (g) all indebtedness of other Persons secured by an Encumbrance (other than Permitted Encumbrances) on any property of such Person, whether or not such indebtedness is assumed by such
      Person; and (h) all indebtedness of other Persons guaranteed by such Person.  For purposes of this definition, the amount of the obligations of such Person with respect to any interest rate hedge agreement at any time shall be the maximum aggregate
      amount (giving effect to any netting agreements) that such Person would be required to pay if such interest rate hedge agreement were terminated at such time.

    

    

    “Indemnified Party” has the meaning set forth in Section 9.04.

    

    

    “Indemnifying Party” has the meaning set forth in Section 9.04.

    

    

    “Initial Reconciliation Disputes” has the meaning set forth in Section 2.04(d).

    

    

    
      8

      
        

    

    “Intellectual Property” means any and all of the following:  (a) trademarks and service marks, including all applications and
      registrations and the goodwill connected with the use of and symbolized by the foregoing; (b) copyrights, including all applications and registrations related to the foregoing; (c) trade secrets and confidential information; (d) patents and patent
      applications; and (e) other intellectual property and related proprietary rights, interests and protections.

    

    

    “Interconnection Agreements” mean those certain electricity transmission agreements and electricity interconnection agreements and any other Contracts
      that govern the interconnection of the Projects to the utility distribution or transmission system.

    

    

    “IRS” means the U.S. Internal Revenue Service.

    

    

    “ITC” means the “energy credit” available under Section 48 of the Code or any successor provision.

    

    

    “Law” means any and all laws, statutes, rules, regulations, ordinances having the effect of law of any Governmental Authority
      having jurisdiction over Sellers, the Company, a Project or Buyer, as applicable.

    

    

    “Late QF Project Certification Liability” means any refund liability, penalties or other Liability imposed or assessed by FERC or otherwise incurred by
      any Buyer Indemnified Party, Company, Company Subsidiary or Project, relating to or arising out of the wholesale sale of energy, capacity or ancillary services from any Late QF Project prior to the QF self-certification of such Late QF Project.

    

    

    “Late QF Project” means any Project (other than fuel cell energy Projects listed on Annex II) that has a power production capacity greater than
      1 MW applying the method of calculation in 18 C.F.R. §292.204 and for which a QF self-certification was not made prior to the wholesale sale of energy, capacity or ancillary services from any such Project.

    

    

    “Liability” means any liability, of any kind or nature, whether known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued,
      disclosed or undisclosed, liquidated or unliquidated, due or to become due, or determined, determinable or otherwise.

    

    

    “Losses” means actual losses, damages, demands, claims, actions or causes of action, assessments, judgments, settlements,
      penalties, Liabilities, Taxes, costs or expenses, including reasonable attorneys’ fees (incurred with respect thereto and any interest and penalties arising with respect to a third party or Tax claim).  The terms “Loss” and “Losses” shall not include
      any Non-Reimbursable Damages.

    

    

    
      9

      
        

    

    “Material Adverse Effect” means any event, occurrence, fact, condition or change that individually or in the aggregate, is, or
      would reasonably be likely to:  (a) be materially adverse to the assets, Liabilities, business, operation or financial condition of  Sellers, collectively, or the Companies (assuming the Project Asset Transfer has been consummated), collectively, as
      applicable; or (b) materially impair a Seller or its respective Affiliates’ authority, right or ability to consummate the Transactions; provided, however, that “Material Adverse Effect” shall not include any event, occurrence, fact, condition or
      change, directly or indirectly, arising out of or attributable to:  (i) general economic or political conditions; (ii) conditions generally affecting the industries in which a Seller or the Companies, as applicable, operate; (iii) any changes in
      financial, banking or securities markets in general, including any disruption thereof and any decline in the price of any security or any market index or any change in prevailing interest rates; (iv) acts of war (whether or not declared), armed
      hostilities or terrorism, or the escalation or worsening thereof; (v) any action required or permitted by this Agreement or any action taken (or omitted to be taken) with the written consent of or at the written request of Buyer; (vi) any changes in
      applicable Laws or accounting rules (including GAAP); (vii) the announcement, pendency or completion of the Transactions, including Losses or threatened Losses of employees, customers, suppliers, distributors or others having relationships with any
      of a Seller or the Companies, as applicable; or (viii) any failure by a Seller or the Companies, as applicable, to meet any internal or published projections, forecasts or revenue or earnings predictions in and of itself; provided that, in the case
      of each of clauses (i), (ii), (iii), (iv) or (vi) such do not adversely affect a Seller, the Companies or the Company Subsidiaries in a disproportionate manner relative to other similarly situated participants
      in the industry in which such Person operates.

    

    

    “Membership Interests” means, collectively, the AS Membership Interests, the AFC Membership Interests, the SFEE Membership Interests, the SFGF
      Membership Interests, the SFGF II Membership Interests, the SFRC Membership Interests and the SF ECHO Membership Interests.

    

    

    “Moody’s” means Moody’s Investor Service, Inc.

    

    

    “Neutral Auditor” has the meaning set forth in Section 2.04(e).

    

    

    “Non-Reimbursable Damages” has the meaning set forth in Section 9.04(g).

    

    

    “Objective Conditions” has the meaning set forth in Section 6.14(a).

    

    

    “O&M Agreement” means, with respect to each Project, the applicable Operation and Maintenance Agreement set forth on Schedule 4.04.

    

    

    “Outside Termination Date” has the meaning set forth in Section 10.01(b)(i).

    

    

    “Party” means, as applicable, a Seller or Buyer.

    

    

    “Permits” means all permits, licenses, approvals, authorizations and consents issued by Governmental Authorities.

    

    

    “Permitted Encumbrances” means: (a) those restrictions on transfer imposed by applicable securities Laws; (b) restrictions imposed on transfers set
      forth in the Charter Documents of the Companies; and (c) those items disclosed in Schedule 3.04(c).

    

    

    
      10

      
        

    

    “Permitted Liens” means the following:

    

    

    (a)           those items disclosed in Schedule 4.02(c);

    

    

    (b)           liens for Taxes not yet due and payable or are being contested in good faith by appropriate procedures;

    

    

    (c)           mechanics, carriers’, workmen’s, repairmen’s or other like liens arising or incurred in the ordinary course of business and with respect to which no enforcement action has commenced by
      or on behalf of the lien holder;

    

    

    (d)          encumbrances consisting of zoning restrictions, licenses, restrictions on use of property or minor imperfections in title that do not impair the marketability, alienability, or
      financeablity of the Project, the Company’s and Company Subsidiary’s equity, or its rights or interest in any Real Property, and which do not materially interfere with the access, development, construction, operation, interconnection or routine
      maintenance of any Project as contemplated by this Agreement, or materially interfere with or otherwise limit or constrain the sale of electricity or other commodities generated by the Project, materially interfere with or otherwise limit the
      performance of the Company’s and any Company Subsidiary’s obligations under any Contract;

    

    

    (e)           liens arising under original purchase price conditional sales contracts and equipment leases with third parties: (i) that do not encumber any property other than the property purchased
      or leased thereby; (ii) entered into in the ordinary course of business: and (iii) with respect to which no enforcement action has commenced by or on behalf of the lien holder;

    

    

    (f)           license obligations arising under, and any other term and condition of, any Permit, Company Contract or Project Contract; and

    

    

    (g)           other imperfections of title or Encumbrances (other than Permitted Encumbrances), if any, that have not been, and would not reasonably be expected to be material to the applicable
      Company, Company Subsidiary or Project.

    

    

    “Person” means an individual, corporation, partnership, limited liability company, association, trust, unincorporated organization,
      or other entity.

    

    

    “Portfolio Economic Benefits” has the meaning set forth in Section 6.21.

    

    

    “Portfolio Economic Report” means a monthly report with respect to the economics of all of the Project Assets from and after September 1, 2019.

    

    

    “Portfolio Leakage Amounts” has the meaning set forth in Section 6.21.

    

    

    “Power Purchase Agreements” mean those certain power purchase agreements, energy service agreements, electric energy offtake Contracts that relate to
      the purchase and sale of electric energy generated by the Projects, including physical or financial hedge Transactions, contracts for differences and other agreements or instruments that have the effect of fixing the revenues associated with the
      energy generated by a Project.

    

    

    
      11

      
        

    

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

    

    

    “Pre-Closing Taxes” has the meaning set forth in Section 7.03(a).

    

    

    “Project” means each electric generating project listed on Annex II.

    

    

    “Project Assets” means all of the assets, rights, personal properties, claims and Contracts to be owned by the Company or the applicable Company
      Subsidiary (after giving effect to the Project Asset Transfer, if applicable) which are associated with a Project.

    

    

    “Project Asset Transfer” has the meaning set forth in the Recitals.

    

    

    “Project Asset Transfer Agreements” means, individually or collectively, as the context may require, the Arcadia Solar Transfer
      Agreement and the Arcadia Fuel Cell Project Asset Transfer Agreement.

    

    

    “Project Contracts” has the meaning set forth in Section 4.04(a).

    

    

    “Project Insurance” has the meaning set forth in Section 3.11.

    

    

    “Project Reports” shall mean any:  (a) monthly operations reports; (b) final environmental reports, environmental sampling data or environmental site
      assessments; (c) independent engineer reports or other technical due diligence reports; (d) cost segregation reports and appraisals; (e) irradiation reports; (f) insurance reports; and (g) any interconnection or transmission reports, in each case,
      that was or is prepared at the direction of a Seller, a Company or a Company Subsidiary or is otherwise in the possession of a Seller, a Company or Company Subsidiary in connection with a Project.  To the extent more than one version of a Project
      Report has been received by a Seller, a Company, a Company Subsidiary or any applicable Project, the term “Project Report” shall mean the most recent version of such Project Report.

    

    

    “Proposed Adjustment Statement” has the meaning set forth in Section 2.04(c).

    

    

    “PUHCA” means the Public Utility Holding Company Act of 2005.

    

    

    “Purchase Price” has the meaning set forth in Section 2.02.

    

    

    “Purchase Price Tax Allocation Schedule” has the meaning set forth in Section 7.01.

    

    

    “QF” means a “qualifying small power production facility” or a “qualifying cogeneration facility” within, respectively, the meaning of Section 3(17)(C)
      or Section 3(18)(B) of the FPA and the FERC’s regulations thereunder.

    

    

    
      12

      
        

    

    “REC Sale Agreements” means, with respect to each Project, the agreement(s), if any, pursuant to which such Project sells renewable energy credits
      energy, as set forth on Schedule 4.04.

    

    

    “Real Property” means the real property owned, leased, subleased, or used pursuant to a license or easement, however denominated,
      by a Company or Company Subsidiary, or for which a Company or Company Subsidiary holds an option to acquire fee ownership, a lease, sublease, license or easement, together with the Company’s or Company Subsidiary’s respective interests in all
      buildings, structures and facilities located thereon.

    

    

    “Real Property Agreements” means those certain leasehold agreements, easements, licenses, other access or use agreements, deeds, and any other Contracts
      that evidence or relate to a Company’s or Company Subsidiary’s interest in or rights to Real Property.

    

    

    “REC” means any renewable energy credits under any state renewable portfolio standard or federal renewable energy standard, pollution allowances, carbon
      credits and similar environmental allowances or credits and green tag or other reporting rights under Section 1605(b) of The Energy Policy Act of 1992 and any federal, state, or local law, regulation or bill, and subsidies, grants, utility rebates,
      or similar benefits or incentives, but the term does not include any tax rebates, ITCs, production tax credits or other federal, state or local tax benefits.

    

    

    “Recapture Liability” means any reduction in, or any obligation to repay, all or any portion of the ITC or depreciation deductions relating to any
      Project resulting from the breach or violation by Seller of any representations or warranties of the Company, Seller, or an Affiliate of Seller as applicable, in the Company Contracts or the Project Contracts or the violation of any covenant of the
      Seller or an Affiliate of Seller under the Company Contracts or the Project Contracts, in each case attributable to periods prior to or existing as of the Closing, except as a result of: (a) any action or direction of Buyer or any Affiliate of Buyer;
      (b) any tax status or classification of Buyer or any Affiliate of Buyer; or (c) any event or circumstance occurring or arising after the Closing Date with respect to such Project.

    

    

    “Reference Rate” means the rate of interest published in The Wall Street Journal as the prime lending rate or
      “prime rate,” with adjustments in that varying rate to be made on the same date as any change in that rate is so published.

    

    

    “Release” means any release, spill, emission, leaking, pumping, injection, disposal or discharge of any Hazardous Material into the
      environment, to the extent prohibited under applicable Environmental Laws.

    

    

    “Representative” means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors,
      accountants and other agents of such Person.  For the avoidance of doubt, “Representative” shall not include any attorney of a Party.

    

    

    
      13

      
        

    

    “Residential Solar Service Providers” means First Associates Loan Servicing, LLC and Omnidian Inc.

    

    

    “Resolution Period” has the meaning set forth in Section 2.04(e).

    

    

    “S&P” means Standard and Poor’s Corporation.

    

    

    “Schedules” means the schedules delivered by Sellers and Buyer pursuant to this Agreement on the Effective Date, as may be updated
      pursuant to Section 6.03.

    

    

    “Schedule Supplement” has the meaning set forth in Section 6.03.

    

    

    “Seller” and “Sellers” have the meanings set forth in the Preamble and means WGL
      Seller, WGSW Seller, or both, as the context requires.

    

    

    “Seller Cash Collateral” means the cash collateral that, in connection with any Permit, Permit application or Contract, a Seller or any of its
      Affiliates has provided for the benefit of a Project.

    

    

    “Seller Fundamental Representations” means the representations and warranties of each Seller contained in Section 3.01 (Organization and Authority of Seller), Section 3.02 (Organization, Authority and Qualification of the Company), Section 3.03 (Ownership of
        the Company), Section 3.04 (Subsidiaries of the Company), Section 3.17 (“Brokers”) and Section 3.21 (“Illegal

        Payments”).

    

    

    “Seller Indemnified Parties” has the meaning set forth in Section 9.03.

    

    

    “Seller Tax Appeals” means individually or collectively, as the context may require, the matters and circumstances relating to the property tax appeals
      identified as items 3 through 10 on Schedule 3.12(a) (under the headings “Minnesota Solar Production Tax appeals” and “Georgia Business Personal Property Tax appeals”).

    

    

    “Seller’s Knowledge” or any other similar knowledge qualification, means the actual knowledge of those Persons listed on Exhibit

        E, without inquiry.

    

    

    “Sellers Parent Guaranty” means a guaranty agreement in favor of Buyer, substantially in the form attached as Exhibit C executed by AltaGas
      Ltd., or another Person that either has: (a) a credit rating of “BBB-” or higher by S&P or “Baa3” or higher by Moody’s; or (b) a tangible net worth of at least $350,000,000.

    

    

    “SF ECHO” has the meaning set forth in the Recitals.

    

    

    “SF ECHO Membership Interests” has the meaning set forth in the Recitals.

    

    

    “SFEE” has the meaning set forth in the Recitals.

    

    

    
      14

      
        

    

    “SFEE Membership Interests” has the meaning set forth in the Recitals.

    

    

    “SFEE Tax Equity Guaranty” means the “Guaranty”, dated as of November 23, 2016, between WGL Holdings, Inc. (as Guarantor) and SFEE, LLC (as Purchaser)
      in connection with that certain Master Purchase Agreement, dated as of November 23, 2016, as more specifically defined on Schedule 3.09(a)(iii).

    

    

    “SFGF” has the meaning set forth in the Recitals.

    

    

    “SFGF Membership Interests” has the meaning set forth in the Recitals.

    

    

    “SFGF II” has the meaning set forth in the Recitals.

    

    

    “SFGF II LLC Agreement” means the Limited Liability Agreement of SFGF II, LLC, dated as of June 30, 2017, by and between WGSW Seller and G-I Energy
      Investments LLC as amended by Amendment No. 1 to Limited Liability Company Agreement of SFGF II, dated as of November 28, 2017, Amendment No. 2 to Limited Liability Company Agreement of SFGF II, dated as of June 30, 2017, Amendment No. 3 to Limited
      Liability Company Agreement of SFGF II, dated as of December 17, 2018, and Amendment No. 4 to Limited Liability Company Agreement of SFGF II, dated as of January 9, 2019.

    

    

    “SFGF II Membership Interests” has the meaning set forth in the Recitals.

    

    

    “SFGF II MPA” means the Master Purchase Agreement, dated as of June 30, 2017, by and between WGL Energy Systems, Inc. and SFGF II, as amended by
      Amendment No. 1 to Master Purchase Agreement, dated as of November 28, 2017, and Amendment No. 2 to Master Purchase Agreement, dated as of February 16, 2018.

    

    

    “SFRC” has the meaning set forth in the Recitals.

    

    

    “SFRC Membership Interests” has the meaning set forth in the Recitals.

    

    

    “Straddle Period” has the meaning set forth in Section 7.04.

    

    

    “Subsidiary” means with respect to any Person, any other Person of which the securities having a majority of the ordinary voting power in electing the
      board of directors (or other governing body), at the time as of which any determination is being made, are owned by such first Person either directly or indirectly through one or more other Subsidiaries.

    

    

    “Support Obligations” means the letters of credit, deposits, parent company guaranties and other cash or credit support that a Seller or any of its
      Affiliates has provided for the benefit of a Project other than the Tax Equity Guaranties, provided that, for the avoidance of doubt, no letters of credit, deposits, parent company guaranties and other cash or credit support (or insurance of any
      kind) provided by Empower Energies, Inc., or any of its Affiliates shall be considered a “Support Obligation” or a “Tax Equity Guaranty”.

    

    

    “Surviving Obligations” has the meaning set forth in Section 10.03(b).

    

    

    
      15

      
        

    

    “Tax” or “Taxes” means all federal, state, local, foreign and other income, gross
      receipts, sales, use, production, ad valorem, transfer, franchise, registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental, stamp, occupation, premium,
      property (real or personal), real property gains, windfall profits, customs, duties or other fees, assessments, charges or similar taxes, together with any interest, additions or penalties with respect thereto and any interest in respect of such
      additions or penalties.

    

    

    “Tax Claim” has the meaning set forth in Section 7.05.

    

    

    “Tax Equity Document” means documents with respect to the tax equity partnership of each of SFEE, SFGF, SFGF II and SFRC listed on Schedule
        3.09(a)(iii).

    

    

    “Tax Equity Guaranties” means the parent company guaranties provided by the WGL Tax Equity Guarantor in connection with the Tax Equity Documents, each
      as set forth on Schedule 3.09(a)(iii).

    

    

    “Tax Return” means any return, declaration, report, claim for refund, information return or statement or other document required to
      be filed with respect to Taxes, including any schedule or attachment thereto, and including any amendment thereof.

    

    

    “Termination Fee” has the meaning set forth in Section 10.02(a).

    

    

    “Third-Party Claim” has the meaning set forth in Section 9.05(a).

    

    

    “Third Party Rights” has the meaning set forth in Section 6.11(c).

    

    

    “Transactions” means the transactions contemplated by the Transaction Documents.

    

    

    “Transaction Documents” means this Agreement, the Assignment Agreement, the Buyer Parent Guaranty and the Sellers Parent Guaranty.

    

    

    “Transfer Consent” has the meaning set forth in Section 6.13(b).

    

    

    “Transfer Taxes” means all transfer, documentary, sales, use, stamp, registration, value added and other such Taxes and fees (including any penalties
      and interest) incurred in connection with this Agreement (including any real property transfer Tax and any other similar Tax), but excluding any such Taxes and fees associated with the Project Asset Transfer.

    

    

    “Unreleased Support Obligations” has the meaning set forth in Section 6.13.

    

    

    “WGL Energy Services Owned Company Subsidiaries” means each Subsidiary set forth beneath the name of WGL Energy Services on Annex II.

    

    

    “WGL Seller Owned Company Subsidiaries” means each Subsidiary set forth beneath the name of WGL Seller on Annex II.

    

    

    
      16

      
        

    

    “WGL Tax Equity Guarantor” means WGL Holdings, Inc., a Virginia corporation.

    

    

    “Wholly Owned Assets” has the meaning set forth in the Recitals.

    

    

    “Working Capital” means an amount, which may be positive or negative, as of September 1, 2019, equal to:  (a) the applicable current assets of the
      Companies (consistent with Exhibit D); minus (b) applicable current liabilities of the Companies (consistent with Exhibit D)determined without duplication of any amounts, in accordance with
      GAAP applied using the same accounting principles, policies and methods used in preparing the Financial Statements, and without giving effect to the Transactions and the Closing.  For the avoidance of doubt: (i) Seller Cash Collateral shall not be
      deemed Working Capital; and (ii) with respect to SFEE, SFGF, SFGF II and SFRC, only the economic interests inuring to the benefit of the holders of the Class B Membership Interest or the Class B Units, as applicable, shall be taken into account for
      the purposes of determining Working Capital.  Attached as Exhibit D, solely for illustrative purposes, is a sample calculation of Working Capital prepared as of the date of the Financial Statements.

    

    

    ARTICLE II

    Purchase and Sale

    

    

    Section 2.01          Purchase and Sale.  Subject to the terms and conditions set forth herein, at the Closing, Sellers shall sell to Buyer, and Buyer
      shall purchase from Sellers, the Membership Interests in consideration of payment of the Purchase Price. 

    

    

    Section 2.02          Purchase Price. The aggregate purchase price for the Membership Interests shall be the Base Purchase Price, plus the amount of the estimated Working Capital set forth in the Estimated Adjustment Statement, (whether positive or negative) minus the amount of the estimated
      Portfolio Leakage Amount (if any) set forth in the Estimated Adjustment Statement, minus the portion of Base Purchase Price allocated to any Excluded Project as set forth on Annex IV (collectively, the “Closing Payment”), as it may be adjusted pursuant to Section 2.04 (as so adjusted, the “Purchase Price”).  The Base Purchase Price shall be allocated among each Project as set forth on Annex IV.  For all purposes of this Agreement as of the Closing Date, Annex II shall be updated to remove the
      references to any Excluded Projects. 

    

    

    Section 2.03         Deposit.  On the Effective Date, Buyer shall deliver to Sellers an amount equal to $72,000,000 (the “Deposit”) by wire transfer of immediately available funds to an escrow account in a financial institution mutually agreed upon by Seller and Buyer (the “Escrow Agent”).  The Deposit
      (together with all interest accrued thereon) shall be either:  (a) returned to Buyer in accordance with Section 10.02(c); (b) released to Sellers and applied toward the Termination Fee, in accordance with Section 10.02(a);
      or (c) released to Sellers and applied toward the Purchase Price, in accordance with Section 2.06(a)(i). 

    

    

    
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    Section 2.04          Working Capital Adjustment to Purchase Price. 

    

    

    (a)          Within three (3) Business Days prior to the Closing Date, Sellers shall prepare and deliver to Buyer the Estimated Adjustment Statement, together with a calculation of the Purchase Price
      resulting from such calculation and reasonable supporting or underlying documentation (including any and all Portfolio Economic Reports since September 1, 2019) and calculations used in the preparation thereof.  Sellers shall give Buyer a reasonable
      opportunity to review and comment on the Estimated Adjustment Statement, and shall take in consideration in good faith any reasonable comments of Buyer on the Estimated Adjustment Statement.  The existence of any dispute with respect to any such
      Estimated Adjustment Statement calculations shall not delay or otherwise affect the Closing or the obligations of Buyer to make the payments specified in Section 2.06 at the Closing.

    

    

    (b)           The Closing Payment payable by Buyer at Closing shall be adjusted in accordance with Section 2.02 to include the amount of the Working Capital and Portfolio Leakage Amount set
      forth in the Estimated Adjustment Statement.

    

    

    (c)          Within sixty (60) days after the Closing Date, Sellers shall prepare and deliver to Buyer a revised calculation of the Working Capital of the Companies as of September 1, 2019 and
      Portfolio Leakage Amount as of the Closing, together with a calculation of the Purchase Price resulting from such calculation and reasonable supporting or underlying documentation and calculations used in the preparation thereof (the “Proposed Adjustment Statement”).

    

    

    (d)         After receipt of the Proposed Adjustment Statement, Buyer shall review the factual basis, mathematical calculations and accounting methods used therein. On or prior to the date that is
      the sixty (60) days after Buyer’s receipt of the Proposed Adjustment Statement, Buyer shall deliver written notice to Sellers specifying in reasonable detail any disputed items (the “Initial Reconciliation Disputes”)

      and the basis therefor and amount thereof.  If Buyer fails to notify Sellers of any Initial Reconciliation Disputes on or prior to such date, then the calculation and valuation of Working Capital set forth on the Proposed Adjustment Statement shall
      be deemed accepted by Buyer and such Proposed Adjustment Statement shall be final, binding, conclusive and non-appealable for all purposes of this Agreement.

    

    

    
      18

      
        

    

    (e)          If Buyer notifies Sellers of any Initial Reconciliation Disputes in accordance with Section 2.04(d), then Buyer and Sellers shall, over the thirty (30) days following the date of
      such notice (the “Resolution Period”), attempt in good faith to resolve the Initial Reconciliation Disputes, and any written resolution by them as to any disputed item shall be final, binding, conclusive
      and non-appealable for all purposes of this Agreement.  If, at the conclusion of the Resolution Period, Buyer and Sellers have not reached an agreement on the disputed items, then all Initial Reconciliation Disputes then remaining in dispute (the “Final Reconciliation Disputes”) shall be submitted by Sellers and Buyer to a nationally recognized independent auditor that is not the independent auditor for any Party or its respective Affiliates and as to
      which the Parties shall reasonably agree prior to expiration of the Resolution Period (the “Neutral Auditor”).  The Neutral Auditor shall act as an expert and not an arbitrator. The scope and
      determination of the Neutral Auditor shall be based on the terms and conditions of this Agreement and not by independent review. The Neutral Auditor shall make all calculations in accordance with the practices used in preparation of the Proposed
      Adjustment Statement, shall determine only those items remaining in dispute between Buyer and Sellers, and shall only be permitted or authorized to determine an amount with respect to any such disputed item that is either the amount of such disputed
      item as proposed by Buyer in the Proposed Adjustment Statement or the amount of such disputed item as proposed by Sellers in the Estimated Adjustment Statement.  Each of Buyer and Sellers shall: (i) enter into a customary engagement letter with the
      Neutral Auditor at the time such dispute is submitted to the Neutral Auditor and otherwise cooperate with the Neutral Auditor; (ii) have the opportunity to submit a written statement in support of their respective positions with respect to such
      disputed items, to provide supporting material to the Neutral Auditor in defense of their respective positions with respect to such disputed items (which supporting material shall be provided simultaneously to the other Party) and to submit a written
      statement responding to the other Party’s position with respect to such disputed items.  The Neutral Auditor shall be instructed to deliver to Buyer and Sellers a written determination (such determination to include a worksheet setting forth all
      material calculations used in arriving at such determination and to be based solely on information provided to the Neutral Auditor by Buyer and Sellers) of the disputed items within thirty (30) days of receipt of the disputed items, which
      determination shall be final and binding on the parties hereto and not subject to appeal.  The expenses of the Neutral Auditor shall be paid by each Party in proportion to such Party’s Adjustment Variance.  The deemed acceptance by Buyer of the
      Proposed Adjustment Statement pursuant to clause (d) or the resolution of the any Initial Reconciliation Disputes or Final Reconciliation Disputes pursuant to this clause (e) shall be referred to herein as the Final Net Working
      Capital and/or the Final Leakage Amount and shall be evidenced by the “Final Adjustment Statement”.

    

    

    (f)           Within five (5) Business Days after the determination of the Final Adjustment Statement:  (i) if the Final Adjustment Statement would result in a greater Purchase Price than the amount
      reflected in the Estimated Adjustment Statement, Buyer shall pay Sellers the excess amount on a dollar-for-dollar basis to such account as directed by Sellers, by wire transfer of immediately available funds; or (ii) if the Final Adjustment Statement
      would result in a lower Purchase Price than the amount set forth in the Estimated Adjustment Statement, Sellers shall pay Buyer the difference in such amount on a dollar-for-dollar basis to such account as directed by Buyer, by wire transfer of
      immediately available funds, such amount paid pursuant to clause (i) or clause (ii), as applicable, be deemed to be an adjustment to the Purchase Price (the “Final Purchase Price Adjustment”). 

      If any amount due pursuant to this Section 2.04(f) is not paid within such five (5) Business Day period, interest shall accrue on such unpaid amount at an annual rate equal to the Reference Rate plus one

      and one-half percent (1.5%) (but not to exceed the maximum rate of interest permitted by applicable Law), calculated from the date such amount was due until paid.

    

    

    
      19

      
        

    

    Section 2.05          Effective Date Deliverables. 

    

    

    (a)           As of the Effective Date:

    

    

     (i)         Buyer shall provide to Sellers an executed Buyer Parent Guaranty in respect of all the Buyer’s payment obligations under this Agreement;

    

    

     (ii)        Sellers shall provide to Buyer an executed Sellers Parent Guaranty in respect of all the Sellers’ payment obligations under this Agreement;

    

    

     (iii)       Buyer shall provide to Sellers, and Sellers shall provide to Buyer a duly executed counterpart of this Agreement; and

    

    

     (iv)        Buyer shall provide to Sellers, and Sellers shall provide to Buyer a duly executed counterpart of the Escrow Agreement.

    

    

    Section 2.06          Transactions at the Closing. 

    

    

    (a)           At the Closing, Buyer shall deliver to Sellers:

    

    

     (i)         the Closing Payment (less the Deposit and the interest accrued thereon) by wire transfer of immediately available funds to one
      or more accounts designated in writing by Sellers to Buyer no later than three (3) Business Days prior to the Closing Date;

    

    

     (ii)        instructions to the Escrow Agent to release the full amount of the Deposit and the interest accrued thereon to one or more accounts designated in writing by Sellers to
      Buyer no later than three (3) Business Days prior to the Closing Date;

    

    

     (iii)       a payment of immediately available funds in the amount of all Seller Cash Collateral listed on Schedule 2.06(a)(iii) and not returned to the applicable Seller
      by the applicable counterparty at or prior to Closing; and

    

    

     (iv)        all other agreements, documents, instruments or certificates required to be delivered by Buyer at or prior to the Closing pursuant to Section 8.03.

    

    

    (b)           At the Closing, Sellers shall deliver to Buyer all other agreements, documents, instruments or certificates required to be delivered by Sellers at or prior to the Closing pursuant to Section

        8.02.

    

    

    Section 2.07          Closing.  Subject to the terms and conditions of this Agreement, the purchase and sale of the Membership Interests contemplated
      hereby shall take place at a closing (the “Closing”) to be held at the offices of Orrick, Herrington & Sutcliffe LLP, 1152 15th Street N.W., Washington D.C. 20005,
      commencing at 11:00 a.m. prevailing Eastern time, no later than five (5) Business Days after the last of the conditions to Closing set forth in Article VIII have been satisfied or waived (other than conditions which, by their nature, are to
      be satisfied on the Closing Date) or at such other place and time or on such other date as Sellers and Buyer may mutually agree upon (the day on which the Closing takes place being the “Closing
          Date”), provided, that the Closing shall occur no earlier than September 1, 2019 unless mutually agreed by Buyer and Seller.  The Closing shall be deemed effective as of 12:01 a.m. on the Closing Date. 

    

    

    
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    ARTICLE III

    Representations and Warranties of Seller

    Regarding the Seller and the Companies

    

    

    Each Seller hereby represents and warrants to Buyer as to itself only and not as to any other Seller, and solely as to each Company owned by such Seller and the Company Subsidiary(ies), and
      Project(s) directly or indirectly owned by such Seller and WGL Seller represents and warrants as to WGL Energy Services, in each case, as of the Effective Date and the Closing Date (unless otherwise indicated), except as disclosed in the Schedules,
      as follows:

    

    

    Section 3.01          Organization and Authority of Seller.  Seller is a corporation duly incorporated, validly existing and in good standing under the
      Laws of the state of Delaware.  Seller has all necessary corporate power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions.  The execution and delivery by Seller of this Agreement,
      the performance by such Seller of its obligations hereunder and the consummation by such Seller of the Transactions have been duly authorized by all requisite corporate action on the part of such Seller.  This Agreement has been duly executed and
      delivered by Seller, and (assuming due authorization, execution and delivery by Buyer) this Agreement constitutes a valid and binding obligation of such Seller, enforceable against such Seller in accordance with its terms, except as such
      enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity, whether enforcement is sought in a proceeding at law or in equity. 

    

    

    Section 3.02         Organization, Authority and Qualification of the Company.  As of the Closing Date, each Company and each Company Subsidiary is a
      limited liability company duly formed, validly existing and in good standing under the Laws of the state of Delaware.  Each Company and each Company Subsidiary has all necessary limited liability company power and authority to carry on its business
      as it is currently conducted and to own, lease and operate its assets, where such assets are now owned, leased or operated.  Each Company and each Company Subsidiary is duly qualified or licensed to do business in and is in good standing in each
      jurisdiction in which the assets owned, leased or operated by it or the nature of the business conducted by it requires such qualification, license or standing. 

    

    

    
      21

      
        

    

    Section 3.03          Ownership of the Companies. 

    

    

    (a)          WGL Seller owns, and at all times since the formation of each of Arcadia Solar and Arcadia Fuel Cell has owned, of record and beneficially one hundred percent (100%) of the issued and
      outstanding Membership Interests in each of Arcadia Solar and Arcadia Fuel Cell, in each case free and clear of all Encumbrances, other than Permitted Encumbrances.

    

    

    (b)          WGSW Seller owns each of the SFEE Membership Interests, the SFGF Membership Interests, the SFGF II Membership Interests, the SFRC Membership Interests and the SF ECHO Membership
      Interests, in each case free and clear of all Encumbrances, other than Permitted Encumbrances.

    

    

    (c)           As of the Effective Date: (i) WGL Seller owns, and at all times since the formation or acquisition of each WGL Seller Owned Company Subsidiary has owned, of record and beneficially one
      hundred percent (100%) of the issued and outstanding limited liability company membership interest in each WGL Seller Owned Company Subsidiary, in each case free and clear of all Encumbrances, other than Permitted Encumbrances; (ii) WGL Energy
      Services owns, and at all times since the formation or acquisition of each WGL Energy Services Owned Company Subsidiary has owned, of record and beneficially one hundred percent (100%) of the issued and outstanding limited liability company
      membership interest in each WGL Energy Services Owned Company Subsidiary, in each case free and clear of all Encumbrances, other than Permitted Encumbrances; and (iii) all of the limited liability company membership interests in each WGL Seller Owned
      Company Subsidiary and WGL Energy Services Owned Company Subsidiary have been: (A) duly authorized and are validly issued; (B) fully paid and have no requirements for the owner thereof to make additional contributions; and (C) are non-assessable and
      were issued in compliance with applicable Laws.

    

    

    (d)          All Membership Interests have been: (i) duly authorized and are validly issued; (ii) fully paid and have no requirements for the owner thereof to make additional contributions; and (iii)
      are non-assessable and were issued in compliance with applicable Laws.  Upon Closing, Buyer shall acquire beneficially good and valid title to all such Membership Interests, free and clear of any and all Encumbrances, other than Permitted
      Encumbrances.  The Membership Interests constitutes one hundred percent (100%) of (x) the equity interests of each of Arcadia Solar, Arcadia Fuel Cell and SF Echo LLC and (y) the Class B Units of each of SFEE, SFGF, SFGF II and SFRC.

    

    

    (e)         Except as listed on Schedule 3.03(e), there are no outstanding or authorized options, warrants, convertible securities or other rights, agreements, arrangements or commitments of
      any character relating to the Membership Interests or obligating either the applicable Seller or any Company to issue or sell any membership interests, or any other interest in, any Company.  There are no voting trusts, stockholder agreements,
      proxies or other agreements or understandings in effect with respect to the voting or transfer of any of the Membership Interests.

    

    

    
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    Section 3.04          Subsidiaries of the Companies.

    

    

    (a)           Schedule 3.04(a) lists the Company Subsidiaries and the percentage ownership of each by each Company.  Except for the Company Subsidiaries disclosed in Schedule 3.04(a),
      the Company does not own any equity interests in any Person.

    

    

    (b)          As of the Effective Date (except with respect to Arcadia Solar and Arcadia Fuel Cell) and as of Closing Date, all of the outstanding equity interests held by the Company in each Company
      Subsidiary have been: (i) duly authorized, are validly issued and are owned of record and beneficially by the Company, free and clear of all Encumbrances other than Permitted Encumbrances; (ii) fully paid and have no requirements for the owner
      thereof to make additional contributions to the Company; and (iii) are non-assessable and were issued in compliance with applicable Laws.  Upon Closing, Buyer shall acquire beneficially good and valid title to all of such Company Subsidiaries, free
      and clear of any and all Encumbrances, other than Permitted Encumbrances.  The Company’s ownership in each Company Subsidiary constitutes one hundred percent (100%) of the equity interests of each applicable Company Subsidiary.

    

    

    (c)          With respect to the equity interests of each Company Subsidiary, except as disclosed in Schedule 3.04(c), there are no outstanding or authorized options, warrants, convertible
      securities or other rights, agreements, arrangements or commitments of any character relating to such equity interests or obligating the Company to issue or sell any shares of capital stock of, or any other interest in, such Company Subsidiary. 
      Other than and after giving effect to the Project Asset Transfer, there are no voting trusts, stockholder agreements, proxies or other agreements or understandings in effect with respect to the voting or transfer of any of the equity interests of any
      Company Subsidiary.

    

    

    (d)          No Company Subsidiary: (i) owns or has (since the direct or indirect acquisition of such Company Subsidiary by Seller) owned, of record or beneficially, or controls or has (since the
      direct or indirect acquisition of such Company Subsidiary by Seller) controlled, directly or indirectly, any equity interests in any Person (or any option, warrant, security or other right convertible, exchangeable or exercisable therefor); and (ii)
      is not, directly or indirectly, a participant in any joint venture, partnership, trust, association or other Person.

    

    

    Section 3.05         No Conflicts; Consents.  The execution, delivery and performance by Seller of this Agreement, and the consummation of the
      Transactions (including the Project Asset Transfer), do not and will not:  (a) result in a violation of any provision of the certificate of incorporation or bylaws of Seller or WGL Energy Services or the certificate of formation or limited liability
      company agreement of any Company or Company Subsidiary; (b) result in a violation or breach of any provision of any Law or Governmental Order applicable to Seller, WGL Energy Services, or any Company or Company Subsidiary; or (c) except as disclosed
      in Schedule 3.05, require the consent, notice or other action by any Person under, conflict with, result in a default, terminations, or modification under or result in the acceleration of any right or loss of any benefit under any Company
      Contract or Project Contract, except in the case of clause (c), where the violation, breach, conflict, default, acceleration or failure to give notice would not reasonably be expected to be material to the applicable, Company or Company
      Subsidiary.  No consent, approval, Governmental Order, declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Seller, WGL Energy Services or any Company or Company Subsidiary in connection with the
      execution and delivery of this Agreement and the consummation of the Transactions, except for such filings as may be disclosed in Schedule 3.05 and such other consents, approvals, Governmental Orders, declarations, filings or notices which,
      individually or in the aggregate, would not be expected to be material to the applicable Company or Company Subsidiary. 

    

    

    
      23

      
        

    

    
      
        Section 3.06         Financial Statements.  Copies of the internally prepared, audited balance sheets (to the extent available) and statements of income of each Company as of and for the most recent annual period and unaudited balance sheets and
            statements of income of each Company as of and for the most recent quarterly periods since the annual financial statements (the “Financial Statements”) have been made available to Buyer in the Data Room.  The Financial Statements have been prepared from the books and records of Sellers and Companies, as applicable, in accordance with GAAP applied on a consistent
            basis throughout the period involved, subject to normal and recurring year-end adjustments and the absence of notes.  The Financial Statements fairly present in all material respects the financial condition and results of operations of each
            Company as of the date they were prepared. Each Company maintains a system of internal accounting controls which are effective in providing reasonable assurance regarding the reliability of financial reporting and the preparation of financial
            statements, in accordance with GAAP.

         

        Section 3.07          Undisclosed Liabilities.  No Company or Company Subsidiary has any liabilities, obligations or commitments of a type
          required to be reflected on a balance sheet prepared in accordance with GAAP, except:  (a) as set forth on Schedule 3.07; (b) those which are reflected or reserved against in the Financial Statements; (c) those which have been incurred in
          the conduct of a Company’s or Company Subsidiary’s business in the ordinary course of business consistent with past custom and practice (including with respect to quantity and frequency) since the date of the Financial Statements (and do not
          relate to breach of contract, tort or noncompliance with Applicable Law); and (d) those which would not reasonably be expected to be material to the applicable Company or Company Subsidiary.

         

        Section 3.08          Absence of Certain Changes.  Since March 31, 2019, no condition, circumstance, event or change has occurred with regard to
          the Seller or the Companies which, individually or in the aggregate, has had, or would reasonably be expected to have a Material Adverse Effect.

         

        
          24

          
            

        

        Section 3.09          Company Contracts.

         

        (a)          Schedule 3.09(a) contains a list of the following Contracts to which the Company or a Company Subsidiary is a party or by which the Company or a Company Subsidiary is bound,
          in each case, only to the extent that such Contract is in effect or, if not in effect, has any obligations following the Closing, excluding the Real Property Agreements and the Project Contracts, except as would not reasonably be expected to be
          material to the applicable Company or Company Subsidiary (collectively, the “Company Contracts”); provided, however, any Contract listed on Schedule 3.09(a) to which the
          Company or a Company Subsidiary is not a party is being provided for informational purposes only and shall not be deemed a “Company Contract” under this Agreement:

         

         

        

        (i)           all Contracts which provide for aggregate payments by or to a Company or a Company Subsidiary, as applicable, over the stated term of the Contract in excess of
          $250,000 for each individual Contract;

         

        (ii)        except for agreements relating to trade receivables, any Contract under which a Company or a Company Subsidiary, as applicable, has created, incurred, assumed or
          guaranteed (or may create, incur, assume or guarantee) indebtedness for borrowed money for which Seller, the Company, a Company Subsidiary or any of their Affiliates granted an Encumbrance (other than Permitted Encumbrances and Permitted Liens)
          on any applicable Project Asset to secure such indebtedness;

         

        (iii)         any Tax Equity Document relating to a Company or a Company Subsidiary; and

         

        (iv)         any Contract establishing a joint venture relating to any Company or a Company Subsidiary.

         

        (b)          Except as disclosed in Schedule 3.09(b):  (i) neither of the Company, any Company Subsidiary, Seller nor any of their Affiliates is in violation of or default (with or
          without notice or lapse of time or both) under, or has waived or failed to enforce any rights or benefits under, any Company Contract or Project Contract; (ii) to the Seller’s Knowledge, no other party to any Company Contract or Project Contract
          is in violation or default (with or without notice or lapse of time or both) under, or has waived or failed to enforce any rights or benefits under, and there has occurred no event giving to other Persons any right of termination, amendment,
          rescission or cancellation of or defense or counterclaim to, with or without notice or lapse of time or both, any such Company Contract or Project Contract; and (iii) each Company Contract and Project Contract is valid and enforceable, except, in
          the case of each of foregoing clause (i) and clause (ii), for violations, defaults, waivers or failures to enforce benefits that would not, individually or in the aggregate, reasonably be expected to be material to the applicable
          Company or Company Subsidiary.

         

        
          25

          
            

        

        Section 3.10          Intellectual Property.

         

        (a)         Schedule 3.10(a) lists all patents, patent applications, trademark registrations and pending applications for registration, copyright registrations and pending applications
          for registration and internet domain name registrations owned by the Company or any Company Subsidiary (together with all Intellectual Property owned or purported to be owned by the Company or any Company Subsidiary, the “Company Intellectual Property”), except where the failure to list Company Intellectual Property would not reasonably be expected to be material to the applicable Company or Company Subsidiary.  Company
          Intellectual Property is: (i) solely owned by the applicable Company or any Company Subsidiary free of any Encumbrances (other than Permitted Encumbrances), except for the Permitted Liens; and (ii) alienable, valid and enforceable.

         

        (b)          Except as disclosed in Schedule 3.10(b), or as would not reasonably be expected to be material to the applicable Company or Company Subsidiary, to Seller’s Knowledge:  (i)
          the Company’s (and each Company Subsidiary’s) conduct of its business (including any and all Projects) as historically conducted by Sellers and as currently conducted, does not infringe, misappropriate or otherwise violate the Intellectual
          Property of any Person; and (ii) no Person is infringing, misappropriating or otherwise violating any Company Intellectual Property.

         

        Section 3.11          Insurance.  Prior to the Closing Date, Seller, or an Affiliate of Seller, has procured and maintained insurance coverage as it has determined is reasonably required for the Projects (the “Project Insurance”).

         

        Section 3.12          Legal Proceedings; Governmental Orders.

         

        (a)          Except as disclosed in Schedule 3.12(a), no Action is pending, or, to Seller’s Knowledge, threatened, against or by the Company or any Company Subsidiary or affecting any of
          the Projects or Project Assets (or by or against Seller or any Affiliate thereof and relating to any of the Projects or Project Assets), which, in each case, if determined adversely to the Company or any Company Subsidiary (or to Seller or any
          Affiliate thereof):  (i) would materially and adversely alter or delay the Transactions or the obligations of the Parties under other Transaction Documents; (ii) would impose any material legal restraint on or prohibition against or limit the
          ability of the Company or any Company Subsidiary to own any of the Projects or Project Assets in any material manner; or (iii) that is reasonably likely to be material to a Company or Company Subsidiary.

         

        (b)          Except as disclosed in Schedule 3.12(b), there are no outstanding Governmental Orders against or affecting the Company or any Company Subsidiary or any of their respective
          properties or assets which are or would reasonably be expected to be material to the applicable Company or Company Subsidiary.  None of Seller or any of the Companies or any of their respective Affiliates has received notice of any such
          Governmental Order entered or threatened against such Seller, any Company, any of their respective Affiliates or any Project, as applicable.

        
          

          

          
            26

            
              

          

          Section 3.13          Compliance with Laws; Permits.

           

          (a)           Except as disclosed in Schedule 3.13(a) or as would not reasonably be expected to be material to the applicable Company or Company Subsidiary: (i) the Company and each
            Company Subsidiary is in compliance with all Laws (including, without limitation, all consumer leasing and protection laws) applicable to it, the Projects, and the performance of obligations under all Project Contracts, Company Contracts and
            Real Property Agreements; and (ii) none of Seller, WGL Energy Services or any Company or any Company Subsidiary has received any written notification from any Governmental Authority of a violation of, or material non-compliance with, any
            applicable Law (including, without limitation, all consumer leasing and protection laws), with respect to any Company, any Company Subsidiary or the Projects or the Real Property that is occupied by a Company or Company Subsidiary.

           

          (b)          All Permits required for the Company or any Company Subsidiary to conduct its business as presently conducted have been obtained and are valid and in full force and effect except
            where the failure to obtain such Permits would not reasonably be expected to be material to the applicable Company or Company Subsidiary; and except as disclosed in Schedule 3.13(b) the consummation of the transactions contemplated by
            the Transaction Documents will not require any notice or amendment of any Permit or give rise to any right of termination, cancellation, or consent under the terms, conditions or provisions of any Permit.

           

          None of the representations and warranties contained in this Section 3.13 shall be deemed to relate to environmental matters (which are governed by Section

                3.14), employment matters (which are governed by Section 3.15) or tax matters (which are governed by Section 3.16).

           

          Section 3.14        Environmental Matters. Except as disclosed in Schedule 3.14 or as would not reasonably be expected to be material to the applicable Company or Company Subsidiary, to Seller’s Knowledge:  (a)
              the Seller and WGL Energy Services (in either case, in connection with the Projects), the Company, each Company Subsidiary, and each Project is and at all times (since the direct or indirect acquisition of such Person by Seller) has been in
              compliance with all Environmental Laws; (b) neither Seller nor WGL Energy Services (in either case, in connection with the Projects), the Company nor any Company Subsidiary has received written notice of any Environmental Claim that remains
              pending or unresolved, and each of Seller and WGL Energy Services (in either case, in connection with the Projects), Company, and Company Subsidiary is not aware of any facts or circumstances which could reasonably be expected to form the
              basis for any Environmental Claim; (c) there has been no Release by the Seller, WGL Energy Services, the Company or any Company Subsidiary at any Real Property in connection with any Project or resulting from the operations of or in
              connection with any Project for which the Seller, WGL Energy Services, the Company or any Company Subsidiary has any Liability or obligation under Environmental Law; (d) none of the Seller nor WGL Energy Services (in either case, in
              connection with the Projects), Company nor Company Subsidiary has stored, disposed of or transported Hazardous Materials (in connection with a Project) or arranged for the same in a manner that has given, or would reasonably be expected to
              give, rise to any Liability pursuant to any Environmental Law; and (e) all final environmental investigations, studies, audits, tests, reviews sampling, or other environmental reports prepared in relation to the Real Property or any Project
              located thereon, to the extent commissioned by or in the possession of Seller, WGL Energy Services, the Company, or Company Subsidiary have been made available to Buyer.

          

          

          
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          The representations and warranties set forth in this Section 3.14 are Seller’s sole and exclusive representations and warranties regarding environmental matters with respect to the Company and each
            Company Subsidiary, including claims arising under Environmental Law.

           

          Section 3.15         Employment Matters.  The Company and the Company Subsidiaries (i) do not employ and have not since the direct or indirect
            acquisition of such Company or Company Subsidiary by Seller employed any employees (ii) do not have any Liabilities with respect to any employees of Seller or any of its Affiliates or any other individuals (including independent contractors,
            contract workers, leased employees or temporary employees) that have performed work at or in connection with any Project or in connection with the business of the Company, except as would not reasonably be expected to be material to the
            applicable Company or Company Subsidiary.

           

          Section 3.16          Taxes.  Except as disclosed in Schedule 3.16:

           

          (a)          The Company and each Company Subsidiary is treated as an entity disregarded from its regarded owner within the meaning of Treasury Regulation Section 301.7701-3(a) for United
            States federal income tax purposes for all taxable periods since its date of formation, and no election has been filed with respect to the Company or any Company Subsidiary so as to cause it to be treated as an association taxable as a
            corporation for United States federal income tax purposes.

           

          (b)         To Seller’s Knowledge, the Company and each Company Subsidiary has timely filed (taking into account any valid extensions) all material income Tax Returns and material non-income
            Tax Returns required to be filed by the Company or such Company Subsidiary.  Any such Tax Returns are true, complete and correct in all material respects.  The Company and each Company Subsidiary is not currently the beneficiary of any
            extension of time within which to file any material Tax Return other than extensions of time to file Tax Returns obtained in the ordinary course of business.  To Seller’s Knowledge, all material income Taxes and material non-income Taxes due
            and owing by the Company and each Company Subsidiary, whether or not reflected on any Tax Return, have been paid or accrued.

          

          

          
            28

            
              

          

          (c)           To Seller’s Knowledge, no deficiencies for any Taxes have been proposed, asserted or assessed against the Company, any Company Subsidiary, any Project, or with respect to any Tax
            benefits (including the ITC) claimed with respect to the Project Assets.  There are no ongoing Actions, investigations or other legal proceedings by any taxing authority against the Company or any Company Subsidiary.  No notice has been
            received by the Company, any Company Subsidiary, Seller or any Affiliate of Seller that any Tax return of the Company or any Company Subsidiary is under current examination by the IRS or by any state, local or foreign Tax authority or that any
            such examination is threatened or contemplated.

           

          (d)           Neither the Company nor any of the Company Subsidiaries has entered into any “reportable transaction,” as defined in Treasury Regulation Section 1.6011-4(b).

           

          (e)           Each of the Company and Seller is a “United States person” within the meaning of Section 7701(a)(30) of the Code.

           

          (f)           The Company has not nor has any Person acting on behalf the Company applied to the IRS for a private letter ruling with respect to the Company, any Company Subsidiary, any
            Project, or with respect to any Tax benefits (including the ITC) claimed with respect to the Project Assets, including any application for a private letter ruling that has been withdrawn.

           

          (g)          With respect to each of the Company and the Company Subsidiaries, each of the representations and warranties that relate to Taxes and that were made by the Company or the Company
            Subsidiaries in connection with any tax equity financing for such entity were, as of the date that they were made, true and correct in all material respects.

           

          (h)          Each of the Company or the Company Subsidiaries, as applicable, that is characterized as a partnership for U.S. federal income tax purposes has made or will make (to be effective
            for the period including the Closing Date) a valid and effective election under Section 754 of the Code, and each of the Company or the Company Subsidiaries, as applicable, has not commenced any action to revoke any election.

           

          (i)            None of the real property as to which the Company or the Company Subsidiaries, as applicable, is obligated, contractually or by applicable Law, to pay ad valorem taxes: (i) is
            subject to rollback Taxes or Tax penalties; or (ii) except as set forth on Schedule 3.16, has been or is entitled to a preferential or special real estate Tax assessment or Tax treatment.  Any preferential or special real estate Tax
            assessment or Tax treatment set forth on Schedule 3.16 is currently in effect and Seller is not aware of any pending or threatened loss or challenge to such preferential or special real estate Tax assessment or Tax treatment.

           

          (j)          No position has been taken on any Tax return with respect to the Company or any Company Subsidiary that is inconsistent with the characterization of the Echo Master Lease
            Agreement, or any residential solar lease agreement in which SF ECHO (or any Affiliate thereof) is the lessor, as a “true lease” for U.S. federal income tax purposes.  Any payments with respect to the Echo Master Lease Agreement, or any
            residential solar lease agreement in which SF ECHO (or any Affiliate thereof) is the lessor, that is governed by Section 467 of the Code has been reported consistently with the requirements of Section 467 of the Code and the Treasury
            Regulations thereunder.

          

          

          
            29

            
              

          

          Section 3.17         Brokers.  No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in
            connection with the Transactions based upon arrangements made by or on behalf of the Company as to whom Buyer is or will become obligated to pay as a result of the consummation of the Transaction.

           

          Section 3.18         Affiliate Transactions.  Except for the Transaction Documents, or as disclosed in Schedule

              3.18, after giving effect to the Project Asset Transfer, neither Seller nor any of its Affiliates shall be a party to any Contract (including any Intellectual Property license or joint development agreement) with the Company or any
            Company Subsidiary.

           

          Section 3.19         Indebtedness.  Except as set forth on Schedule 3.19 and as reflected in the Working Capital, immediately before the
            Closing: (a) no Company or Company Subsidiary has any Indebtedness; (b) no Company or Company Subsidiary has guaranteed or otherwise become responsible for any Indebtedness or other Liabilities of any Person; and (c) none of any Company’s or
            Company Subsidiary’s Membership Interests or other ownership interests, as applicable, or its assets is encumbered or burdened by any Indebtedness.

           

          Section 3.20         Regulatory Matters.  No approval under Section 2.03(a)(1) of the FPA is required for the Transaction.  Assuming the accuracy
            of the representations in Section 5.07, no approval under Section 203(a)(2) of the FPA is required for the Transaction.  Neither the Company nor any Company Subsidiary is a “public utility” as defined under Section 201 of the FPA.  The purchase
            of the Membership Interests and the consummation of the other transactions contemplated by this Agreement and the other Transaction Documents will not cause Buyer to become subject to or not exempt from:
            (a) rate regulation as a “public utility” under the Federal Power Act; (b) regulation under the Public Utility Regulatory Policies Act of 1978 (other than as with respect to an owner or operator of a qualifying small power production facility); or (c) regulation as an “electric utility company” or a “holding company” under the Public Utility Holding Company Act of 2005 (“PUHCA”); provided, however, ownership
            of the fuel cell energy Projects listed on Annex II may result in Buyer being subject to regulation as a “holding company” under PUHCA.

          
            30

            
              

          

          
            Section 3.21          Illegal Payments.  To Seller’s Knowledge, none of Seller, the Company, any of their respective Company Subsidiaries or
              any officer, manager, employee or agent of and acting on behalf of such Seller or the Company has, with respect to the Companies within the last three (3) years: (a) received notice of a violation of the U.S. Foreign Corrupt Practices Act (15
              U.S.C. §§ 78 dd-1, et seq.), the UK Bribery Act of 2010, or any similar applicable anti-corruption laws and regulations (collectively, the “Anti-Corruption Laws”); (b) offered, made or
              received on behalf of Seller or the Company or any of their respective Company Subsidiaries any payment or contribution of any kind, directly or indirectly, including payments, gifts or gratuities (or promises thereof) of any money or
              anything of value: to (i) any public official in violation of any Anti-Corruption Law or otherwise illegally to any person; (ii) any public official for the purpose of improperly influencing any official act or decision of such official or
              improperly inducing him or her to use his or her influence to affect any act or decision of a governmental authority; or (iii) any political party or official thereof or candidate for political office for the purpose of improperly influencing
              any official act or decision of such party, official or candidate or inducing such party, official or candidate to use his, her or its influence to affect any act or decision of a governmental authority, in the case of the foregoing clauses
              (ii) and (iii) in order to assist Seller, the Company or any of their respective Affiliates to obtain or retain business for, or direct business to, Seller, the Company or any of their respective Affiliates, as applicable (in
              each case as it relates to the Projects); (c) established or maintained any improper unrecorded fund or asset for any purpose or made any false entries on the books and records of Seller or the Company or any of their respective subsidiaries
              for any reason; (d) paid or delivered any fee, commission or any other sum of money or item of property, however characterized, to any finder, agent, government official or other party, in the United States or any other country, which in any
              manner relates to the assets of Seller or the Company or any of their respective subsidiaries, the business or operations of Seller or the Company or any of their respective subsidiaries which was illegal under any Laws of the United States
              or any other country having jurisdiction; or (e) made, requested, accepted, or retained any bribe, rebate, payoff, influence payment, kickback or other unlawful payment of funds in violation of any law, rule or regulation, including
              Anti-Corruption Laws.  To Seller’s Knowledge, since the direct or indirect acquisition of the Company by Seller there have not been any actual or alleged violations, enforcement actions, penalties or threats of penalty, whistleblower reports,
              governmental investigations or audits, voluntary disclosures to a government agency, or threatened or pending litigation relating to Anti-Corruption Laws, involving actual or alleged violations of Seller or the Company, or (to Seller’s
              Knowledge) any employee or agent acting on behalf of Seller or the Company.  Seller, the Company and each of their respective subsidiaries are subject to and currently maintain an anti-corruption compliance program designed to detect and
              prevent violations of Anti-Corruption Laws.

             

            Section 3.22          Investment Company.  None of the Companies or the Company Subsidiaries is an “investment company” or a company controlled
              by an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

             

            Section 3.23          Specified Credit Support Obligations.  The obligations listed on Schedule 3.23: (a) are all of the Support
              Obligations constituting credit support or assurance of any kind that have been provided by, on behalf of, or for the benefit of, each Seller, WGL Energy Services, the Companies or any Company Subsidiaries; or (b) constitute all of the credit
              support or assurance that each Seller and WGL Energy Services (in either case, in connection with the Projects), each of the Companies or any Company Subsidiary is currently required by any Law (including any Governmental Approval) or
              Contract to provide.

             

            

          

          
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            Section 3.24          CFIUS.  None of the Companies nor any of the Company Subsidiaries is, contains, or involves a “pilot program U.S.
              business” within the meaning of 31 C.F.R. § 801.213. 

             

            Section 3.25         Interpretation for Certain Sections of Article III.  Solely for the purposes of the representations and warranties in the
              last sentence of Section 3.05, Section 3.07, Section 3.08, Section 3.09(a), Section 3.09(b), the materiality qualifiers in Section 3.10(a) and Section 3.10(b), Section 3.12(a)(iii), the first sentence of Section 3.12(b), the first sentence of
              Section 3.13(a), Section 3.13(b), Section 3.15 and Section 3.23(i), such representations and warranties are deemed to be made with respect to the applicable Company or Company Subsidiary as if the Project Asset Transfer with respect to the
              applicable Person has been consummated. 

             

            Section 3.26       No Other Representations and Warranties.  Except for the representations and warranties contained in this Article III
              and Article IV, neither of Seller, the Company, any Company Subsidiary nor any other Person has made or makes any other express or implied representation or warranty, either written or oral, on behalf of Seller, the Company or any
              Company Subsidiary, including any representation or warranty as to the accuracy or completeness of any information regarding the Company or any Company Subsidiary furnished or made available to Buyer and its Representatives or as to the
              future revenue, profitability or success of the Company, any Company Subsidiary or any Project, or any representation or warranty arising from statute or otherwise in Law; provided that no representation or warranty is made with regard to:
              (a) any projections or other forward-looking statements provided by or on behalf of Seller, the Company, any Company Subsidiary or any of their respective Affiliates or the Projects; and (b) the tax consequences to the Buyer of owning the
              Membership Interests in the Company except as explicitly set forth in the Transaction Documents. 

             

            ARTICLE IV

            Representations and Warranties of Sellers

            Regarding the Projects

             

            Each Seller hereby represents and warrants to Buyer as to itself only, and as to each Company owned by such Seller and the Company Subsidiary(ies), and Project(s) directly or indirectly owned
              by such Seller and WGL Seller represents and warrants as to WGL Energy Services, in each case, as of the Effective Date and the Closing Date (unless otherwise indicated), except as disclosed in the Schedules, as follows:

             

            Section 4.01          Projects.  Each Project is listed on Annex II. 

             

            
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              Section 4.02          Project Assets. 

            

             

            

            (a)           To Seller’s Knowledge, all Project Assets are free and clear of Encumbrances (other than Permitted Encumbrances) except for Permitted Liens.

             

            (b)          Each of the Project Assets relating to each Project is owned or leased (in the case of real property) by the applicable Company or Company Subsidiary, and each such Company or
              Company Subsidiary, as applicable, has good, valid and marketable title to, has valid rights of use or access (as applicable) to, and is the sole and exclusive owner of all right, title and interest in the applicable Project(s) and Project
              Assets free and clear of all Encumbrances (other than Permitted Encumbrances) other than Permitted Liens.

             

            (c)          As of the Closing Date, all of the respective assets of each Company and Company Subsidiary, as applicable, are in the sole possession and control of the Company or Company
              Subsidiary, as applicable, and, except for Permitted Liens and as set forth on Schedule 4.02(c), no Person (other than the applicable Company or Company Subsidiary) owns or has any interest in, or option or other right (contingent or
              otherwise), including a right of first refusal or a right of first offer, in or on or has any Encumbrance (other than Permitted Encumbrances) on, any Project.

             

            (d)          The assets owned by each Company and Company Subsidiary, as applicable, are all of the material assets used by each such Company or Company Subsidiary, as applicable with respect
              to the Projects and such assets comprise all of the assets, Governmental Approvals, Contracts and rights necessary for the ownership, development, construction, interconnection, operation and maintenance of such Project(s).

             

            Section 4.03         Permits.  The Company and each Company Subsidiary has all Permits required to be held by it under existing Laws for the
              operation and ownership of the Projects as they are currently constructed and operated and for the sale of electric energy therefrom, except to the extent that failure to obtain any such Permit would not reasonably be expected to be material
              to the applicable Project, and all such Project Permits are in full force and effect; provided that no representation is made with respect to Permits that may be required to be obtained by the Buyer with respect to its ownership of interests
              in the Companies or control of the Project Assets.  All Project Permits are listed in Schedule 4.03 and copies of all such Project Permits have been provided in the Data Room except, in each case, for any Project Permit the absence of
              which would not reasonably be expected to be material to the applicable Company, Company Subsidiary or Project.  To Seller’s Knowledge, no event has occurred that would reasonably be expected to result in any material adverse modification,
              revocation or termination of any Permit applicable to a Company, a Company Subsidiary or a Project. 

            

            
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            Section 4.04          Project Contracts. 

             

            (a)           Schedule 4.04 contains a true, complete and correct list of the following Contracts relating to the Projects to which the Company or any Company Subsidiary is a party or
              any of the Project Assets are bound, in each case, only to the extent that such Contract is in effect or, if not in effect, has any obligations following the Closing, other than Real Property Agreements and the Company Contracts, except as
              would not reasonably be expected to be material to the applicable Company or Company Subsidiary (collectively the “Project Contracts”); provided, however, any Contract listed on Schedule

                4.04 to which the Company or a Company Subsidiary is not a party is being provided for informational purposes only  and shall not be deemed a “Project Contract” under this Agreement:

             

            (i)          all Interconnection Agreements for a Project;

             

            (ii)         all Power Purchase Agreements, energy savings agreements or energy services agreements for a Project;

             

            (iii)        any Contract providing a warranty for a Project Asset;

             

            (iv)        any Contract requiring an aggregate capital expenditure of more than $250,000 over the stated term of the Contract in connection with the applicable Project;

             

            (v)         any Contract with an obligation to sell or lease any of the applicable Project Assets with a value in excess of $250,000;

             

            (vi)        any Contract establishing any joint venture relating to the applicable Project;

             

            (vii)       any shared facilities (or similar) agreement relating to the applicable Project;

             

            (viii)      any REC Sale Agreement to which a Company or a Company Subsidiary is party;

             

            (ix)        any AMA, DAS Agreement, or O&M Agreement relating to a Project, Company or Company Subsidiary;

             

            (x)          to the extent that any obligations of the contractor thereunder remain outstanding, any EPC Contract related to a Project, Company or Company Subsidiary; and

             

            (xi)        any local capacity requirement or other revenue or incentive related to the production of energy.

             

            (b)           Each Project Contract is in full force and effect and will not be breached or rendered invalid or unenforceable as a result of the Transactions, except as would not reasonably
              be expected to be material to the applicable Company or Company Subsidiary.

             

            (c)          Neither the Company nor any Company Subsidiary is in violation of or default under (with or without notice of lapse of time or both), or has waived or failed to enforce any
              rights or benefits under any Project Contract, except as would not reasonably be expected to be material to the applicable Company or Company Subsidiary.

             

            
              34

              
                

            

            (d)          Neither Seller, nor any of Seller’s Affiliates, has received any written notice of material breach or default of any Project Contract, except as would not reasonably be expected
              to be material to the applicable Company or Company Subsidiary.

             

            (e)          Except as set forth on Schedule 4.04(e), neither Seller, nor any of Seller’s Affiliates have received a written claim for which the Company or any Company Subsidiary is
              responsible to provide indemnification pursuant to any Project Contract, except for claims which, if the allegations contained therein were accurate, would not be reasonably expected to be material to the applicable Company or Company
              Subsidiary.

             

            (f)            True and complete copies of all Company Contracts and Project Contracts have been made available to Buyer in the Data Room.

             

            Section 4.05          Real Property. 

             

            (a)           True and complete copies of all Real Property Agreements have been made available to Buyer in the Data Room, except as would not reasonably be expected to be material to the
              applicable Company or Company Subsidiary.

             

            (b)           Each Real Property Agreement is in full force and effect and will not be breached or rendered invalid or unenforceable as a result of the Transactions, except as would not
              reasonably be expected to be material to the applicable Company or Company Subsidiary.

             

            (c)           All fees, rents, taxes, premiums, royalties or other payments required to be paid by the Company or any Company Subsidiary to any Person under the applicable Real Property
              Agreement, whether currently due or payable in the future or contingently owed, are reflected in the Real Property Agreements.

             

            (d)          Neither Seller, nor any of Seller’s Affiliates, has received any written notice alleging the Company or any Company Subsidiary to be, in material breach or material default of
              any of its obligations under the Real Property Agreements.  To Seller’s Knowledge, there has been no breach or default by any counterparty to a Real Property Agreement of such counterparty’s obligations under any Real Property Agreement and
              no event or condition exists which requires or permits any counterparty to a Real Property Agreement to cancel, suspend or terminate performance of any of its obligations under any of the Real Property Agreements in accordance with the terms
              and provisions thereof, except as would not reasonably be expected to be material to the applicable Company or Company Subsidiary.

             

            (e)          To Seller’s Knowledge, there is no pending condemnation (or similar) action by a Governmental Authority affecting any Real Property or any portion thereof.  Neither Seller, WGL
              Energy Services, the Company nor any Company Subsidiary has received any written notice of any pending condemnation proceeding against any Real Property.

             

            
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            (f)          There are no Actions pending or, to Seller’s Knowledge, threatened in writing against the Real Property, or in connection with the Real Property Agreements, except as would not
              reasonably be expected to be material to the applicable Company, Company Subsidiary or Project.  Except for such proceedings listed in Schedule 4.05(f), neither Seller, WGL Energy Services, the Company nor any Company Subsidiary has
              received any written notice of any pending Actions against any of the Real Property.

             

            (g)           Each Company Subsidiary has a good and valid leasehold interest in or other right to locate, access, operate and use the applicable Project on the Real Property that is subject
              to applicable Real Property Agreement.

             

            (h)           To Seller’s Knowledge, there are no condemnation, rezoning or taking actions pending respecting any Real Property.

             

            Section 4.06         Project Reports.  All of the Project Reports relating to the Projects in the Company’s or any Company Subsidiary’s or
              their respective Affiliates’ possession have been made available to Buyer in the Data Room that are not subject to a confidentiality or other obligation in favor of a third party, which is not an Affiliate of either Seller, who is unwilling
              to consent to such Project Report being made available to Buyer, except to the extent any failure to make a Project Report available to Buyer would not reasonably be expected to be material to the applicable Company or Company Subsidiary. 

             

            Section 4.07        Regulatory Status.  Except for the fuel cell energy Projects listed on Annex II, each Project is a QF and is
              eligible for the exemptions from regulation as set forth in 18 C.F.R. §§ 292.601(c) (including exemption from FPA Sections 203, 205, and 206), 292.602(b) and 292.602(c).  A QF self-certification filing has been made with respect to each
              Project (other than (a) the fuel cell energy Projects listed on Annex II, and (b) as of the Effective Date, the Projects listed on Schedule 4.07) that has a power production capacity greater than 1 MW applying the method of
              calculation in 18 C.F.R. §292.204; all representations and information in such self-certification filings were and remain true, correct and complete in all material respects; and each such self-certification is in full force and effect.  None
              of any Company, any Company Subsidiary or any Project is subject to regulation by any state utility regulatory commission under applicable Laws as a “utility,” “electric utility,” “public utility,” “electric corporation,” “public service
              company” or similar entity with respect to its rates and finances, obligations to make utility-related filings (including tariff filings) or utility-related obligations to the public, except for any such regulation that would not reasonably
              be expected to be material to the applicable Company, Company Subsidiary or Project. Each fuel cell energy Project listed in Annex II is interconnected directly to the offtaker under the fuel cell Project’s respective Power Purchase
              Agreement, and each fuel cell energy Project sells its electrical output exclusively at retail for use solely by the offtaker under such Power Purchase Agreement (other than through net metering arrangements between the customer and the local
              electric utility as provided in the applicable Power Purchase Agreement). 

             

            
              36

              
                

            

            Section 4.08         Interpretation for Certain Sections of Article IV.  Solely for the purposes of the representations and warrants in Section

                4.02(b), Section 4.02(d), the first sentence of Section 4.03, Section 4.04(a), Section 4.04(b), Section 4.04(c), Section 4.04(d), Section 4.04(e), Section 4.05(a), Section

                4.05(b), Section 4.05(c), the second sentence of Section 4.05(d), the first sentence of Section 4.05(f), Section 4.05(g), Section 4.06 and the third sentence of Section 4.07,  such
              representations and warranties are deemed to be made with respect to the applicable Company or Company Subsidiary as if the Project Asset Transfer with respect to such Person has been consummated. 

             

            ARTICLE V

            Representations and Warranties of Buyer

             

            Buyer hereby represents and warrants to each Seller as of the Effective Date (unless otherwise indicated), as follows:

             

            Section 5.01         Organization and Authority of Buyer.  Buyer is a limited liability company duly organized, validly existing and in good
              standing under the Laws of the state of Delaware. Buyer has all necessary company power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions.  The execution and delivery by
              Buyer of this Agreement, the performance by Buyer of its obligations hereunder and the consummation by Buyer of the Transactions have been duly authorized by all requisite company action on the part of Buyer.  This Agreement has been duly
              executed and delivered by Buyer, and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes a valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms, except as such
              enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity, whether enforcement is sought in a proceeding at law or in equity.
            

             

            Section 5.02         No Conflicts; Consents.  The execution, delivery and performance by Buyer of this Agreement, and the consummation of the
              Transactions, do not and will not:  (a) result in a violation or breach of any provision of the organizational documents of Buyer; (b) result in a violation or breach of any provision of any Law or Governmental Order applicable to Buyer; or
              (c) except as disclosed in Schedule 5.02, require the consent, notice or other action by any Person under, conflict with, result in a violation or breach of, constitute a default under or result in the acceleration of any agreement to
              which Buyer is a party, except in the cases of clause (b) and clause (c), where the violation, breach, conflict, default, acceleration or failure to give notice would not reasonably be expected to materially and adversely
              affect Buyer’s ability to consummate the Transactions.  No consent, approval, Permit, Governmental Order, declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Buyer in connection with the
              execution and delivery of this Agreement and the consummation of the Transactions, except for such filings as disclosed in Schedule 5.02 and such consents, approvals, Permits, Governmental Orders, declarations, filings or notices
              which would not reasonably be expected to materially and adversely affect Buyer’s ability to consummate the Transactions. 

             

            
              37

              
                

            

            Section 5.03          Investment Purpose.  Buyer is acquiring the Membership Interests solely for its own account for investment purposes and
              not with a view to, or for offer or sale in connection with, any distribution thereof.  Buyer acknowledges that the Membership Interests are not registered under the Securities Act of 1933, or any state securities Laws, and that the
              Membership Interests may not be transferred or sold except pursuant to the registration provisions of the Securities Act of 1933, or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as
              applicable.  Buyer is able to bear the economic risk of holding the Membership Interests for an indefinite period (including total loss of its investment), and has sufficient knowledge and experience in financial and business matters so as to
              be capable of evaluating the merits and risk of its investment. 

             

            Section 5.04          Brokers.  No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in
              connection with the Transactions based upon arrangements made by or on behalf of Buyer. 

             

            Section 5.05         Sufficiency of Funds.  As of the Closing Date, Buyer has sufficient cash on hand or other sources of immediately available
              funds to enable it to make payment of the Closing Payment (less the Deposit and the interest accrued thereon) and consummate the Transactions and the Transaction Documents. 

             

            

            Section 5.06          Legal Proceedings.  There are no Actions pending or, to Buyer’s knowledge, threatened in writing against or by Buyer or
              any Affiliate of Buyer that challenge or seek to prevent, enjoin or materially and adversely alter or delay the Transactions. 

             

            Section 5.07          Regulatory Matters.  Buyer is not a “holding company” as defined in PUHCA. 

             

            Section 5.08          Project Insurance. Buyer acknowledges that the Project Insurance will terminate as to the Projects on the Closing Date. 

             

            
              38

              
                

            

            Section 5.09         Independent Investigation.  Buyer has conducted its own independent investigation, review and analysis of the business,
              results of operations, prospects, condition (financial or otherwise) or assets of the Company and acknowledges that it has been provided adequate access to the personnel, properties, assets, premises, books and records, and other documents
              and data of Seller and the Company for such purpose.  Buyer acknowledges and agrees that:  (a) in making its decision to enter into this Agreement, the other Transaction Documents and to consummate the Transactions, Buyer has relied solely
              upon its own investigation and the express representations and warranties of Seller set forth in Article III and Article IV (including the related portions of the Schedules); and (b) neither of Seller or the Company nor any other Person has
              made any representation or warranty as to Seller, the Company or this Agreement, except as expressly set forth in Article III and Article IV (including the related portions of the Schedules). 

             

            Section 5.10          Compliance with Laws.  Buyer is in compliance with all Laws applicable to it or its business, properties or assets,
              except where the failure to be in compliance would not reasonably be expected to materially and adversely affect Buyer’s ability to consummate the Transactions. 

             

            ARTICLE VI

            Covenants

             

            Section 6.01         Conduct of Business Prior to the Closing.  From the Effective Date until the Closing, except: (i) as otherwise provided in
              this Agreement, by Law, pursuant to a Contract in effect as of the Effective Date, or the Project Asset Transfer; (ii) as otherwise consented to in writing by Buyer; or (iii) as necessary to take any action deemed urgent in order to remedy or
              mitigate the effects of an emergency with respect to a Company, a Company Subsidiary or a Project, each Seller shall, and shall cause the Companies and Company Subsidiaries to: 

             

            (a)           conduct the business of such Company and Company Subsidiary and their respective Projects in the ordinary course of business, consistent with past practices in all material
              respects and in accordance with the Good Utility Practices;

             

            (b)           promptly notify Buyer of any default under any Company Contracts, Project Contracts or Real Property Agreements or violation of any Governmental Approval of which it becomes
              aware;

             

            (c)           not enter into, amend or modify in any material respect, assign, or terminate any Company Contracts, Project Contracts or Real Property Agreements;

             

            (d)           not amend or modify in any material respect, or terminate any lease, except with respect to the termination of the Echo Master Lease Agreement;

             

            (e)            not sell, lease, license, assign or transfer (including transfers to either Seller or any of their Affiliates) any assets of any Company or Company Subsidiary, except with
              respect to the Echo Master Lease Agreement;

             

            (f)            not make any material change in the accounting methods used by Sellers for any Company or Company Subsidiary, except as required by GAAP;

             

            

            
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            (g)          not merge or consolidate with any other entity, undertake any recapitalization, adopt any plan of dissolution or liquidation, make any voluntary bankruptcy or insolvency filing
              (or consent to any such involuntary filing) or reorganization, or not maintain its existence as a limited liability company;

             

            (h)           not incur or assume any Indebtedness other than that which is satisfied and released in full prior to the Closing;

             

            (i)           not redeem or repurchase, directly or indirectly, any equity interests of the Company or declare, set aside or pay any dividends or make any other distributions (whether in cash
              or in kind) with respect to the equity interests of the Company, provided that the Company shall be permitted to make cash dividends prior to September 1, 2019;

             

            (j)            not issue, sell, pledge or transfer any equity interests of the Company or enter into any agreement for the sale, voting, registration or repurchase of any equity interests of
              the Company (including any securities convertible into or exchangeable for, or options with respect to, or warrants to purchase or rights to subscribe for, any such equity interests);

             

            (k)           not voluntarily incur, create or assume any Encumbrance (other than Permitted Encumbrances) other than Permitted Liens;

             

            (l)           not make or change any material Tax election, file any material amended Tax Return, enter into any closing agreement, settle any material Tax claim or assessment relating to the
              Company, surrender any right to claim a refund of material Taxes, or consent to any extension or waiver of the limitation period applicable to any material Tax claim or assessment relating to the Company;

             

            (m)          not release, waive, settle or compromise any dispute for amounts over $100,000 or that would restrict the business in any material respect;

             

            (n)           not hire any employees;

             

            (o)           not enter into any transaction or Contract with either Seller or any of their Affiliates other then as contemplated herein;

             

            (p)           not amend the Charter Documents of the Company, except for ministerial amendments;

             

            (q)           not accelerate the collection of accounts receivables, or delay the payment of accounts payables or take any other action that would change the historical working capital
              practices of the Companies; and

             

            (r)            not commit or agree to do any of the foregoing.

             

            
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            Section 6.02         Access to Information.  From the Effective Date until the Closing, Sellers shall, and shall cause the Companies and the
              Company Subsidiaries to use commercially reasonable efforts to:  (a) grant Buyer and its Representatives and counsel reasonable access to and the right to inspect all of the Real Property, properties, assets, premises, books and records,
              contracts, agreements and other documents and data related to the Companies, the Company Subsidiaries and the Projects; (b) furnish Buyer and its Representatives and counsel with such financial, operating and other data and information
              related to the Companies, the Company Subsidiaries and the Projects as Buyer or any of its Representatives and counsel may reasonably request; and (c) instruct the Representatives and counsel of Sellers and the Companies to cooperate with
              Buyer in its investigation of the Companies, the Company Subsidiaries and the Projects; provided, however, that any such investigation shall not:  (i) interfere unreasonably with normal operations of
              (A) a Seller, any Company, any Project or any customer of a Seller or any Company or (B) Sellers’ or their Affiliate’s execution of their respective obligations hereunder; (ii) violate any applicable Laws or safety and security procedures or
              rules of a Seller, any Company, any Project or any customer of a Seller or any Company; or (iii) in the reasonable opinion of counsel, infringe upon any attorney-client work product or like privilege.  All requests by Buyer for access
              pursuant to this Section 6.02 shall be submitted or directed exclusively to Sellers.  Prior to the Closing, without the prior written consent of Sellers, which may be withheld in Sellers’ sole discretion, Buyer shall not contact any
              suppliers to, or customers of, any Seller or any Company, and Buyer shall have no right to perform air, surface, invasive or subsurface investigations of the Real Property or invasive or destructive sampling of any Project Assets.  Buyer
              shall, and shall cause its Representatives and counsel to, abide by the terms of the Confidentiality Agreement with respect to any access or information provided pursuant to this Section 6.02.  Notwithstanding anything to the contrary
              in the Confidentiality Agreement, Buyer agrees to indemnify and hold harmless each Seller, each Company and each of their respective Affiliates, contractors, agents or employees against and from any Loss arising from Buyer’s or any of its
              representatives’ or contractors’ conduct of the due diligence activities permitted by this Section 6.02 or any breach of this Section 6.02. 

             

            Section 6.03         Supplement to Schedules.  From time to time prior to the Closing, but in no event more than once in every seven (7) day
              period, the Sellers shall have the right (but not the obligation) to supplement or amend the Schedules with respect to any matter hereafter arising or of which it becomes aware after the Effective Date (each a “Schedule Supplement”). The Sellers shall deliver any Schedule Supplement no later than three (3) Business Days prior to the Closing Date or, if less than three (3) Business Days prior to the Closing Date, a period prior
              to the Closing Date which Buyer acknowledges in writing was reasonably sufficient to review such information. Any disclosure in any such Schedule Supplement shall not be deemed to have cured any inaccuracy in or breach of any representation
              or warranty contained in this Agreement, including for purposes of the indemnification or termination rights contained in this Agreement or of determining whether or not the conditions set forth in Section 8.02 have been satisfied; provided,
              however, that if Buyer has the right to, but does not elect to, terminate this Agreement pursuant to Section 10.01 or determine the conditions set forth in Section 8.02(q) have not been satisfied within five (5) Business Days of its receipt
              of such Schedule Supplement, then Buyer shall be deemed to have irrevocably waived any right to terminate this Agreement or to determine that the conditions set forth in Section 8.02(q) have not been satisfied with respect to only such matter
              solely based on the facts and circumstance as it was disclosed to Buyer at the time of the Schedule Supplement, taken by itself; provided, however, that the foregoing waiver shall not affect Buyer’s right to terminate this Agreement or to
              determine that the conditions set forth in Section 8.02(q) have not been satisfied if either the facts and circumstances with respect to such matter materially change from those disclosed to the Buyer at the time of the Schedule Supplement or
              additional matters are disclosed in subsequent Schedule Supplements which, when taken together with the matters presently disclosed, would in the aggregate permit the Buyer to terminate this Agreement or to determine that the conditions set
              forth in Section 8.02(q) have not been satisfied.  For avoidance of doubt, no Schedule Supplement shall affect any right of indemnification under this Agreement. 

             

            
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            Section 6.04          Officer, Manager and Director Indemnification. 

             

            (a)           Buyer agrees that all rights to indemnification, advancement of expenses and exculpation by the Company now existing in favor of each Person who is now, or has been at any time
              prior to the Effective Date or who becomes prior to the Closing Date, an officer, manager or director of the Company, as provided in the certificate of formation or the operating agreement of the Company, in each case as in effect on the date
              of this Agreement, or pursuant to any other agreements in effect on the Effective Date and disclosed in Schedule 6.04(a), shall survive the Closing Date and shall continue in full force and effect in accordance with their respective
              terms.

             

            (b)         The obligations of Buyer and the Company under this Section 6.04 shall not be terminated or modified in such a manner as to adversely affect any officer, manager or
              director to whom this Section 6.04 applies without the consent of such affected officer, manager or director (it being expressly agreed that the officers, managers and directors to whom this Section 6.04 applies shall be
              third-party beneficiaries of this Section 6.04, each of whom may enforce the provisions of this Section 6.04).

             

            (c)          In the event Buyer, the Company or any of their respective successors or assigns:  (i) consolidates with or merges into any other Person and shall not be the continuing or
              surviving corporation or entity in such consolidation or merger; or (ii) transfers all or substantially all of its properties and assets to any Person, then, and in either such case, proper provision shall be made so that the successors and
              assigns of Buyer or the Company, as applicable, shall assume all of the obligations set forth in this Section 6.04.

             

            
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            Section 6.05          Confidentiality. 

             

            (a)           This Agreement and all information disclosed to a Party by another Party pursuant to this Agreement shall be governed by the Confidentiality Agreement and the Parties shall
              abide by the provisions of the Confidentiality Agreement; provided that nothing in this Section 6.05 shall limit the disclosure by any Party of any information in connection with any litigation between the Parties (provided that such
              Party has taken all reasonable actions to limit the scope and degree of disclosure in any such litigation).

             

            (b)          After the Closing, each Party agrees to treat and hold as confidential any information concerning the business and affairs of the other Party to which such Closing relates, which
              is not already generally available to the public (the “Confidential Information”), refrain from using any of the Confidential Information other than in accordance with this Agreement, for
              purposes internal to Seller and its Affiliates or as otherwise agreed in writing between Seller or any of its Affiliates and Buyer or any of its Affiliates.  In the event that a Party is requested or required (by oral question or request for
              information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or similar process) to disclose any Confidential Information, such Party shall (to the extent practical given the circumstances) notify the
              other Parties promptly of the request or requirement so that the other Parties may seek an appropriate protective order or waive compliance with the provisions of this Section 6.04(b).  If, in the absence of a protective order or the
              receipt of a waiver hereunder, a Party is, on the advice of counsel, compelled to disclose any Confidential Information to any tribunal, such Party may disclose the Confidential Information to the tribunal; provided that such Party shall use
              commercially reasonable efforts to obtain, at the request and expense of any other Party, an order or other assurance that confidential treatment shall be accorded to such portion of the Confidential Information required to be disclosed as a
              Party shall designate.

             

            (c)           Notwithstanding the foregoing provisions of this Section 6.05 or the Confidentiality Agreement, Buyer agrees that Sellers may, indirectly or directly, through one or
              more intermediaries, furnish this Agreement to any Person in connection with the termination of any other agreement with respect to the acquisition of any of the Projects by such Person.

             

            
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            Section 6.06          Governmental Approvals and Other Third-Party Consents. 

             

            (a)          From the Effective Date through the Closing Date, each Party shall (and shall each cause their respective Affiliates to) use commercially reasonable efforts to make or obtain all
              notices, filings, consents, waivers, confirmations and approvals of Governmental Authorities that any of Seller, Buyer or their respective Affiliates are required to make or obtain before the Closing in order to consummate the Transactions
              and maintain such consents in full force and effect once made or obtained, which shall include to:  (i) make or cause to be made any filings required under any foreign, federal, state or local Laws with respect to the Transactions, in each
              case, as promptly as is reasonably practicable, and to pay any fees due from it in connection with such filings; (ii) cooperate with the other Party and furnish all information in such Party’s possession that is necessary in connection with
              such other Party’s filings; (iii) use commercially reasonable efforts to cause the expiration of the notice or waiting periods under any Laws with respect to the Transactions as promptly as is reasonably practicable; (iv) promptly inform the
              other Party of any communication from or to, and any proposed understanding or agreement with, any Governmental Authority in respect of such filings, and permit the other Party to review in advance any proposed communication by such Party to
              any Governmental Authority to the extent it is reasonably practicable to do so; (v) consult and cooperate with the other Party in connection with any analyses, appearances, presentations, memoranda, briefs, arguments and opinions made or
              submitted by or on behalf of any Party in connection with all meetings, actions and proceedings with Governmental Authorities relating to such filings; (vi) comply, as promptly as reasonably practicable, with any requests received by such
              Party or any of its Affiliates under any Laws for additional information, documents or other materials; (vii) use commercially reasonable efforts to resolve any objections as may be asserted by any Governmental Authority with respect to the
              Transactions; (viii) use commercially reasonable efforts to contest and resist any action or proceeding instituted (or threatened in writing to be instituted) by any Governmental Authority challenging the Transactions as being in violation of
              any Law; (ix) request expedited and, as appropriate, confidential treatment of any such filings; and (x) cooperate in good faith with all Governmental Authorities and not take any action that would reasonably be expected to adversely affect
              the approval of any Governmental Authority of any of the aforementioned filings.

             

            (b)         No Party shall agree to participate in any meeting with any Governmental Authority in respect of any filings, investigation or other inquiry related to the Transactions, unless it
              consults with the other Party in advance and, to the extent permitted by such Governmental Authority, gives the other Party the opportunity to attend and participate at such meeting including with or through the Representatives and counsel of
              the other Party.  Subject to the Confidentiality Agreement and Section 6.05, the Parties shall provide each other with copies of all correspondence, filings or communications between them or any of their Representatives or counsel, on
              the one hand, and any Governmental Authority or members of its staff, on the other hand, with respect to this Agreement and the Transactions; provided, however, that either Party may redact from any filings provided to the other Party
              hereunder, and shall not be required to provide any materials or information hereunder, to the extent such filings, materials or information relate to the providing Party and not to the Company.

             

            (c)          HSR Act.  As promptly as reasonably practicable, but in no event later than fifteen (15) Business Days after the Effective Date, or such other time as mutually agreed upon
              by the Parties, Seller and Buyer shall prepare and file all filings applicable to it in connection with the Transactions that may be required under the HSR Act. Subject to Section 6.06:  (a) each Party shall cooperate in good faith
              with the other Party in the preparation of all necessary filings and shall make its initial HSR Act filing on the same date; and (b) Buyer and each Seller shall and shall cause its respective Affiliates to, use commercially reasonable efforts
              to cause the expiration of any applicable notice or waiting periods under the HSR Act with respect to the Transactions as promptly as is reasonably practicable, including complying with any requests received by Buyer or either Seller or any
              of their respective Affiliates, as applicable, from a Governmental Authority under the HSR Act for additional information, documents or other materials.  Buyer shall pay all fees payable to the United States Government in connection with the
              filings under the HSR Act, if any.

             

            
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            (d)         Buyer shall not contact CFIUS with respect to the Transactions, or file a voluntary notification with CFIUS pursuant to Section 721 of the Defense Production Act of 1950, as
              amended.  In the event that Buyer receives notice that CFIUS has requested a notification or initiated a review of the Transactions pursuant to 31 C.F.R. § 800.401(b) or (c), Buyer shall promptly provide notify Sellers of such notice.  Buyer
              reserves the right to comply with any such request from CFIUS and to cooperate with any review initiated by CFIUS.  Buyer agrees that Sellers shall have no obligation to repurchase any of the Membership Interests in the event that CFIUS
              orders Buyer to divest any of such Membership Interests.

             

            (e)          Notwithstanding the foregoing, solely with respect to approval of a Governmental Authority under the HSR Act or by FERC, Buyer and its Affiliates shall not be required to commit
              to or effect (and Sellers shall not commit to or effect without the consent of Buyer) (i) the sale or disposition of, or prohibition or limitation on the ownership or operation by Buyer or any of its subsidiaries of specific assets or
              categories of assets or businesses; (ii) the amendment or termination of existing contracts, licenses or other relationships; (iii) the entering into of new contracts, licenses or other relationships; and (iv) behavioral commitments limiting
              or modifying Buyer’s or any of its Affiliates’ rights of ownership in, or ability to conduct the business of, one or more of its operations, divisions, businesses, product lines or assets.

             

            (f)           As soon is as practicable, but in any event, prior to the Closing Date, Sellers shall (or shall cause their respective Affiliates to):  (i) file a QF self-certification with
              respect to (A) each Project set forth on Schedule 4.07 and (B) any other Projects (other than the fuel cell energy Projects listed on Annex II) that have a power production capacity greater than 1 MW, applying the method of
              calculation in 18 C.F.R. §292.204, with respect to which such filing has not been made as of the Effective Date; (ii) submit to the FERC Office of Enforcement a self-report related to the wholesale sale of energy, capacity or ancillary
              services from any Late QF Project prior to the QF self-certification of any such Late QF Project; and (iii)  file with FERC a refund report related to the wholesale sale of energy, capacity or
              ancillary services from any Late QF Project prior to the QF self-certification of such Late QF Projects and request from FERC an order accepting the refund report.

             

            
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            Section 6.07          Books and Records. 

             

            (a)           Subject to its confidentiality obligations hereunder and under the terms of the Confidentiality Agreement, Seller shall have the right to retain a copy of all books and records
              delivered to Buyer.

             

            (b)           In order to facilitate the resolution of any claims that may be made by or against or incurred by Buyer or the Company after the Closing, for a period of five (5) years
              following the Closing, Buyer shall:

             

            (i)          retain the books and records (including personnel files) acquired from Seller which relate to any of the Company, the Company Subsidiaries and their operations
              for periods prior to the Closing; and

             

            (ii)         upon reasonable notice, afford the Representatives of Seller or the Company reasonable access (including the right to make, at Buyer’s expense, photocopies),
              during normal business hours, to such books and records.

             

            (c)           Neither Buyer nor Seller shall be obligated to provide the other Party with access to any books or records (including personnel files) pursuant to this Section 6.07
              where such access would violate any Law.

             

            Section 6.08         Closing Conditions.  From the Effective Date until the Closing, each Party shall, and Seller shall cause the Company or
              the Company Subsidiaries, as applicable, to, use commercially reasonable efforts to take such actions as are reasonably necessary to satisfy the closing conditions set forth in Article VIII. 

             

            
              
                Section 6.09         Public Announcements.  Except for statements made or issued:  (a) pursuant to the Securities Act, the Securities Exchange Act of 1934 or
                  any Canadian Securities Laws; (b) pursuant to any listing agreement with any national securities exchange in Canada or the United States or the National Association of Securities Dealers, Inc.; or (c) as otherwise required by applicable
                  Law, no Party shall issue, or permit any agent or Affiliate of such Party to issue, any press releases or otherwise make, or cause any agent or Affiliate of such Party to make, any public statements with respect to this Agreement or the
                  Transactions without the prior written consent of the other Parties, provided that for any disclosures under clauses (a) through (c) above, no Party shall be permitted to disclose any schedules, annexes or exhibits to this
                  Agreement without the prior consent of the other Parties.  The releasing Party shall provide a copy of such proposed press release or statement to the other Party at least two (2) Business Days before releasing it to the public and
                  incorporate any reasonable changes which are suggested by the non-releasing Party prior to releasing or making the statement.  Following the consummation of the Closing, the Parties shall cooperate to prepare a press release with respect
                  to Transactions which shall be in substance mutually acceptable to Buyer and Sellers.

              

            

             

            
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            Section 6.10          Further Assurances. 

             

            (a)           Following the Effective Date, each of the Parties shall, and shall cause their respective Affiliates to, execute and deliver such additional documents, instruments, conveyances
              and assurances, and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the Transactions.

             

            (b)          Promptly following the Closing, Sellers shall request the prompt return or destruction of all non-public information concerning the Companies or the Company Subsidiaries
              theretofore furnished to any Person (other than Buyer) with whom a confidentiality agreement related to the proposed Transaction was entered into at any time within the six (6) month period immediately preceding the Effective Date.

             

            (c)           Within five (5) Business Days following the Closing Date, Seller shall have provided Buyer (including by electronic delivery) with the books and records of the Company, the
              Company Subsidiaries and the Projects relating to periods prior to the Closing Date (in each case, for the immediately preceding three (3) years), to the extent such books are records are reasonably available to the Company or any Company
              Affiliate.

             

            Section 6.11          Delayed Project Transfer. 

             

            (a)           After the Effective Date, Sellers shall use commercially reasonable efforts to complete, and cause their Affiliates to complete, the transactions contemplated by the Project
              Asset Transfer by September 1, 2019.

             

            (b)          Notwithstanding anything to the contrary contained in this Agreement, to the extent that the assignment, transfer, conveyance or delivery or attempted assignment, transfer,
              conveyance or delivery to Arcadia Solar or Arcadia Fuel Cell of any Project or associated Project Asset would require any governmental or third-party authorizations, approvals, consents or waivers (“Transfer

                  Consents”), Sellers shall, and shall direct their Affiliates to use commercially reasonable efforts to obtain such Transfer Consents prior to September 1, 2019, and if not obtained by then, then by Closing, provided that if any
              such Transfer Consents shall not have been obtained prior to the Outside Termination Date, and the conditions to Closing set forth in Article VIII have otherwise all been satisfied or waived, including Section 8.02(k): (i) the
              Closing shall proceed without the assignment, transfer, conveyance or delivery of any such Project; (ii)  Section 6.11(c) shall apply to the Parties with respect to any such Project; and (iii) for the purposes of Sections 3.04(a),
              3.04(b), 3.05, 4.02(b) and 4.02(c) and Article V as of the Closing Date, Annex II shall be updated to remove the references to any Project not being assigned, transferred, conveyed or delivered as of the
              Closing, which shall thereafter be subject to the terms of this Section 6.11.

             

            
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            (c)          This Agreement shall not constitute an agreement to assign or transfer any Project or Project Asset if an attempted assignment or transfer thereof, without the consent of a third
              party (including any Governmental Authority), would constitute a breach or other contravention thereof or a violation of Law or would in any way adversely affect the rights of the Company or any Company Subsidiary.  In the event that any
              Transfer Consents have not been obtained as of Closing as set forth in Section 6.11(b), Sellers, on the one hand, and Buyer, on the other hand, shall negotiate in good faith to enter into a mutually acceptable agreement under which:
              (i) the applicable Project shall be transferred to the Buyer or the Company, as applicable, promptly after the respective Transfer Consent has been obtained; (ii) the Purchase Price paid to the applicable Seller by Buyer on the Closing Date
              shall include the amount as set forth on Annex IV with respect to such Project as if the relevant Transfer Consent had been obtained prior to the Closing Date; (iii) the terms of Sections 3.04(a), 3.04(b), 3.05,
              4.02(b) and 4.02(c) and Article V shall be incorporated into such agreement as applied to such Project; and (iv) (A) Sellers shall deliver a monthly report to Buyer with respect to the economics of such Project from and after
              September 1, 2019 (which Buyer shall have a reasonable opportunity to review and Sellers shall take in consideration good faith any reasonable comments of Buyer), and (B) the applicable Company (which following the Closing shall be owned by
              the Buyer) shall be deemed to, in compliance with Law, obtain the economic benefits and assume the obligations and bear the economic burdens associated with such Project in accordance with this Agreement, including subcontracting,
              sublicensing or subleasing to the Company, or under which the applicable Seller would, at the Company’s expense, enforce for the benefit of the Company any and all of its rights against a third party (including any Governmental Authority)
              associated with such Project, claim, right or benefit (collectively, “Third Party Rights”), and Sellers would promptly pay to the Company when received all economic benefits (less the economic obligations and economic burdens, but including associated Tax benefits and burdens to the applicable Company and/or Seller (assuming a Tax rate equal to the then-highest marginal federal
              income tax rate applicable to U.S. corporations, as in effect from time to time), including any economic burden associated with any drawdown or claim related to any Unreleased Support Obligations related to such Project which results from an
              event occurring on or after September 1, 2019 but prior to the Closing, received (or incurred) by the applicable Seller or any of its Affiliates in connection with such Project until the relevant Transfer Consent is received (at which time
              such Project will be formally transferred and assigned to the Company).  In connection with such an agreement, Buyer shall indemnify and hold harmless Sellers and any of their Affiliates, contractors, agents or employees against and from any
              Loss arising from any Seller’s use or operation of any such Project that is not transferred as of the Closing Date pursuant to such agreement, except to the extent such Loss results from Sellers failure to operate such Project in accordance
              with Good Utility Practices.

             

            (d)           To the extent that, by one hundred eighty (180) days after the Closing Date, any Project subject to an agreement described in Section 6.11(c) has not been assigned, transferred,
              conveyed or delivered to Buyer, Buyer shall then have the option of determining, in its sole discretion, whether to extend the time period for the agreement described in Section 6.11(c) for another one hundred eighty (180) days
              following the termination of the initial period of one hundred eighty (180) days after the Closing Date.  Buyer shall notify Sellers in writing of such determination and (i) if Buyer chooses not to extend the time period, or (ii) it has been
              three hundred sixty (360) days after the Closing Date, Sellers shall promptly (but not later than ten (10) Business Days following the receipt of such notification) pay to Buyer the (X) the sum of (I) amount set forth on Annex IV with respect
              to such Project Asset which was paid by Buyer to Sellers on the Closing Date plus (II) any amount paid by Buyer for indemnification in accordance with Section 6.11(c), minus (Y) any amounts paid by Sellers to Buyer pursuant to Section 6.11(c)(ii).  If the amount paid by Sellers to Buyer pursuant to Section 6.11(c)(ii) exceeds the sum of (x) amount paid by
              Buyer to Sellers as described in Section 6.11(c)(i) plus (y) any amount paid by Buyer for indemnification in accordance with Section 6.11(c), then Buyer shall promptly (but not later
              than ten (10) Business Days following the giving of such notification) pay an amount equal to such difference to Sellers.  Any net payment by Sellers pursuant to this Section 6.11(d) shall be treated by the Parties as an adjustment to
              the Purchase Price for Tax purposes, unless otherwise required by Law.

             

            
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            Section 6.12        Excluded Assets.  Nothing in this Agreement shall be construed as conferring on Buyer, and Buyer is not acquiring pursuant
              to this Agreement, any right, title or interest in, to or under any of the Excluded Assets.  At or prior to the Closing, one or more Affiliates of Sellers shall convey all of the Project’s rights, title and interest, if any, in the Excluded
              Assets to the applicable Seller or an Affiliate of such Seller.  Buyer agrees that any payment received by Buyer or the Company after Closing with respect to an Excluded Asset shall be promptly remitted to Sellers. 

             

            Section 6.13         Return of Support Obligations.  If any Support Obligations listed on Schedule 6.13 (excluding any Seller Cash
              Collateral) remain in effect as of the Closing Date (“Unreleased Support Obligations”), and Sellers nevertheless wish to proceed with Closing, then: 

             

            (a)          Buyer shall diligently seek to cause all such Unreleased Support Obligations to be replaced with letters of credit, guaranties or other security acceptable to the beneficiary
              thereof, as applicable, in accordance with the terms and conditions of the applicable Permit or Contract and, in connection therewith, with respect to any Unreleased Support Obligation represented by a letter of credit or guarantee, Buyer
              shall (or shall cause the applicable beneficiary thereof to) use commercially reasonable efforts to return such Unreleased Support Obligation to the applicable Seller or the applicable issuer of such Unreleased Support Obligation, as
              applicable, together with a cancellation request executed by the applicable beneficiary thereof; and

            

             

            

            
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                  (b)          (i) On and after the Closing Date, if a beneficiary of any Unreleased Support Obligation with respect to which the applicable Seller or its Affiliates (excluding the
                    Companies and the Company Subsidiaries) has not been released draws or collects on any such Unreleased Support Obligation or the applicable Seller and/or its Affiliates (excluding the Companies and the Company Subsidiaries), as
                    applicable, incur a cost or expense on account of any such Unreleased Support Obligation and (ii) the event or condition giving rise to such drawing or demand under any such Unreleased Support Obligation has occurred on or after the
                    Closing Date, Buyer shall, within fifteen (15) days after the applicable Seller notifies Buyer in writing of such drawing or payment, reimburse the applicable Seller and/or such Affiliate thereof, as applicable, for the amount of a
                    drawing or payment under such Unreleased Support Obligation paid or incurred by the applicable Seller and/or such Affiliates, as applicable, in connection with such Unreleased Support Obligation.  Notwithstanding anything to the
                    contrary provided herein, if the event or condition giving rise to such drawing or demand under any such Unreleased Support Obligation has occurred before the Closing Date, Buyer shall not be responsible for any such cost, expense or
                    loss arising under such Unreleased Support Obligation and all such costs, expenses or losses shall be borne solely by the applicable Seller and/or its applicable Affiliates.  To the extent that any such payment or reimbursement is not
                    made as provided above within fifteen (15) days after the applicable Seller notifies Buyer in writing of such drawing or payment recoverable pursuant to the first sentence of this Section 6.13(b), such drawing or payment shall
                    bear interest (y) in respect of any Unreleased Support Obligation that accrues interest, at the rate per annum at which such Unreleased Support Obligation accrues interest or (z) in respect of any Unreleased Support Obligation that does
                    not accrue interest, at a rate equal to Reference Rate plus one and one-half percent (1.5%) per annum, in either case, from the date that Buyer shall have been obligated to reimburse the
                    applicable Seller and/or its Affiliates under this Section 6.13(b) through the date of payment.  Buyer shall indemnify the applicable Seller and/or its applicable Affiliates for any reasonable and documented expenses incurred by
                    the applicable Seller and/or its Affiliates solely in connection with enforcing Buyer’s obligation to make any reimbursement that is required but not timely made pursuant to this Section 6.13(b).

                   

                  Section 6.14          SFGF II’s Approved Project Company Purchase Obligations.

                   

                  (a)           With respect to the Projects listed on Schedule 6.14(a) at Closing, Buyer agrees that, from and after the Closing Date, as owner of one hundred percent (100%) of
                    the SFGF II Membership Interests:  if and to the extent that Buyer determines in good faith that based on the information provided by Sellers, that all conditions precedent to Section 4.1(a) (the “Objective Conditions”) of the SFGF II MPA will be met with respect to any such Project,  in accordance with the terms and conditions set forth in the SFGF II MPA and the SFGF II LLC Agreement, Buyer, as “Managing
                    Member” of SFGF II shall seek the approval of the holders of the SFGF II Class A Units for each such Project to be considered an “Approved Project” such that SFGF II will purchase the “Approved Project Company” under the SFGF II MPA
                    prior to its Completion Deadline.

                   

                  (b)          Buyer agrees that in the event any of the Projects listed on Schedule 6.14(a) at Closing  is not purchased by SFGF II pursuant to Section 6.14(a),
                    notwithstanding that the Objective Conditions have been met with respect to any such Project, as a result of the failure of the holders of the SFGF II Class A Units to provide approval under Section 6.03(x) of the SFGF II LLC Agreement,
                    then Buyer shall, subject to terms and conditions substantially similar to the terms and conditions set forth in the SFGF II MPA  (including (x) that such Project will have only achieved “Interim Completion” (as defined in the SFGF II
                    MPA) at the time of such purchase and (y) that WGL Seller complete such Project on substantially similar terms as set forth in Section 3.1 of the SFGF II MPA) or as otherwise mutually agreed by the Buyer and WGL Seller, purchase such
                    Project from WGL Seller for the price set forth on Schedule 6.14(a); provided that WGL Seller provides Buyer with at least ten (10) Business Days prior written notice.

                   

                  
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                  (c)          With respect to the Project listed on Schedule 6.14(c) at Closing,   Buyer shall, subject to terms and conditions substantially similar to the terms and conditions
                    set forth in the SFGF II MPA (including (x) that such Project will have only achieved “Interim Completion” (as defined in the SFGF II MIPA) at the time of such purchase and (y) that WGL Seller complete such Project on substantially
                    similar terms as set forth in Section 3.1 of the SFGF II MPA) or as otherwise mutually agreed by the Buyer and WGL Seller, purchase such Project from WGL Seller for the price set forth on Schedule 6.14(c); provided that WGL
                    Seller provides Buyer with at least ten (10) Business Days prior written notice.

                   

                  (d)           As of the Closing, Seller shall update (i) Schedule 6.14(a) to remove any Project set forth therein that is already owned by SFGF II at such time and (ii) Schedule

                      6.14(c) to remove the Project set forth therein if such Project is already owned by Arcadia Solar at Closing, provided that, for the sake of clarity, through its purchase and acquisition of Arcadia Solar, the Parties hereby agree
                    that (A) Buyer shall only be required to purchase the Project set forth on Schedule 6.14(c) at Closing subject to substantially similar terms and conditions as set forth in the SFGF II MPA (including (x) that such Project will
                    have only achieved “Interim Completion” (as defined in the SFGF II MIPA) at the time of Closing and (y) that WGL Seller complete such Project on substantially similar terms as set forth in Section 3.1 of the SFGF II MPA) and (B) if the
                    conditions set forth in clause (A) of this Section 6.14(d)(ii) are not met, such Project shall remain on Schedule 6.14(c) at Closing.

                   

                  Section 6.15         Remediation Expenditures.  Seller shall, prior to the Closing of the Transactions, use commercially reasonable
                    efforts to complete all of the remediation projects and other ordinary course repairs and equipment replacements set forth on Schedule 6.15.  If any such remediation is not fully completed as of the Closing, Seller shall
                    reimburse Buyer for all expenses associated with completing such remediation and other repairs and replacements after the Closing.

                   

                  Section 6.16          [RESERVED]

                   

                  Section 6.17          Residential Solar Service Provider.  On or prior to September 15, 2019, if Buyer has not favorably concluded its
                    internal review process with respect each Residential Solar Service Provider, then WGL Seller shall use commercially reasonable efforts to assist Buyer in replacing any Residential Solar Service Provider which does not pass Buyer’s
                    internal review process, under any applicable servicing arrangement or Contract to which such Residential Solar Service Provider is party with either Lease Dimensions Inc. or another service provider acceptable to Buyer.

                   

                  
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                  Section 6.18         Audit Support.  Upon the written request of Buyer, Sellers shall make their Representatives and counsel available to
                    Buyer for the purpose of supporting Buyer in response to any IRS audit of a Company’s or a Company Subsidiary’s Taxes or Tax Returns for taxable periods:  (a) prior to the Closing Date; and (b) taxable year immediately following the
                    year that the Closing is consummated for a service fee payable by Buyer to WGL Seller equal to the market standard rate at the time for equivalent services.

                   

                  Section 6.19        Charter Documents.  Following the Effective Date and prior to the Closing Date, Sellers shall use commercially
                    reasonable efforts to provide to Buyer copies of the Charter Documents of each Company and Company Subsidiary, and to help identify any Company or Company Subsidiary which has a Charter Document under which the day to day management of
                    the Company or Company Subsidiary is delegated to a natural person, and work collaboratively with Buyer to  amend and restate any such Charter Documents effective as of the Closing Date in a manner which is in form and substance
                    reasonably satisfactory to the Buyer and expressly permitted by any required third party approvals.

                   

                  Section 6.20          Project Insurance Claims.  Sellers shall use commercially reasonable efforts: (a) promptly on or following the
                    Effective Date, to deliver to Buyer a list of all claims made under the Project Insurance in the three (3) years prior to the Effective Date; and (b) on or prior to the Closing Date, to update such list of claims to add any claims made
                    under the Project Insurance after the Effective Date and prior to the Closing Date.

                   

                  Section 6.21         Portfolio Economic Benefits.  It is the Parties’ intent that in the event of Closing that occurs after September 1,
                    2019, the Buyer shall be entitled to the economic benefits (less the economic obligations and economic burdens, but including associated Tax benefits and burdens to the applicable Company and/or
                    Seller (assuming a Tax rate equal to the then-highest marginal federal income tax rate applicable to U.S. corporations, as in effect from time to time)) associated with all of the Companies, Company Subsidiaries and Projects, including
                    any economic burden associated with any drawdown or claim related to any Unreleased Support Obligations which results from an event occurring on or after September 1, 2019 but prior to the Closing (the “Portfolio

                        Economic Benefits”), assuming that the Closing had occurred on September 1, 2019.  In the event that the Closing does not occur by September 1, 2019, then if any Portfolio Economic Benefits are not contributed to or
                    retained by the applicable Company during the period from September 1, 2019 until the Closing, they shall be referred to as “Portfolio Leakage Amounts”, and shall be reflected as an
                    adjustment to the Purchase Price in accordance with Section 2.02 and Section 2.04.  In such case, Sellers shall deliver the Portfolio Economic Report to Buyer on a monthly basis from and after September 1, 2019.  The
                    calculation of the Portfolio Economic Benefits shall be made in accordance with the Portfolio Economic Report; provided that Buyer shall have a right to review any Portfolio Economic Report during the adjustment period contemplated by Section

                      2.04.  For the sake of clarity, if the Closing has not occurred by September 1, 2019, Sellers shall deliver a Portfolio Economic Report from and after September 1, 2019 until the earlier of the Closing or a termination of this
                    Agreement under Article X.

                   

                  

                  
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                  Section 6.22        Existing Litigation.  From and following the Effective Date and until the Closing Date, each Seller, as applicable,
                    shall, or shall cause the applicable Company Subsidiary, to diligently pursue the prosecution, settlement or compromise of each Existing Litigation.  From and following the Closing Date, each Seller and Buyer (at their own cost) shall
                    cooperate in good faith to pursue the prosecution, settlement or compromise of the Existing Litigation identified as item 1 on Schedule 3.12(a) (GL Georgia Project Group LLC v. Chief
                      Manufacturing, Inc.), and: (i) the Sellers shall be entitled to the economic benefits  associated with resolution of such Existing Litigation for the period prior to September 1, 2019; and (ii) the Buyer shall be entitled to
                    the economic benefits  associated with resolution of such Existing Litigation for the period from and after September 1, 2019.

                   

                  Section 6.23          Property Tax Appeals.  From and following the Effective Date and until the Closing Date, each Seller, as
                    applicable, shall, or shall cause the applicable Company Subsidiary to diligently pursue the prosecution, settlement or compromise of the applicable Seller Tax Appeals.  From and following the Closing Date, each Seller and Buyer (at
                    their own cost) shall cooperate in good faith to pursue the prosecution, settlement or compromise of each of the Seller Tax Appeals, and: (i) the Sellers shall be entitled to the economic benefits associated with resolution of such
                    Seller Tax Appeals for the period prior to September 1, 2019; and (ii) the Buyer shall be entitled to the economic benefits associated with resolution of such Seller Tax Appeals for the period from and after September 1, 2019.

                   

                  Section 6.24        Fuel Cell Project FERC Filing.  WGL Seller agrees to cooperate with Buyer, at Buyer’s expense, in connection with
                    Buyer’s preparation and submission to FERC of a petition for declaratory order regarding the non-traditional utility status of the fuel cell energy Projects listed in Annex II within ten (10) days following the satisfaction of
                    the condition set forth in Section 8.03(g).

                   

                  
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                  ARTICLE VII

                  Tax Matters

                   

                  Section 7.01          Purchase Price Tax Allocation.  Sellers and Buyer agree that the sale of the Membership Interests pursuant to this Agreement shall be treated for United States federal and state income Tax purposes as a sale to Buyer of all of the assets
                      of the Company and an assumption by Buyer of all of the liabilities of the Company.  No later than ninety (90) days following the Closing Date, Buyer shall deliver to Sellers a preliminary schedule allocating the Purchase Price among
                      the Company’s assets which shall be consistent with the allocation in Annex IV (the “Purchase Price Tax Allocation Schedule”). 

                      Buyer shall permit Sellers thirty (30) days to review and comment on the preliminary Purchase Price Tax Allocation Schedule.  Sellers shall notify Buyer in writing within thirty (30) days of its acceptance of or any dispute of the
                      Purchase Price Tax Allocation Schedule.  If Sellers notify Buyer of a dispute, then the Parties shall negotiate in good faith to resolve any disputed aspects with respect to the preliminary Purchase Price Tax Allocation Schedule. 
                      Sellers and Buyer agree and acknowledge that each shall report the Transactions to the applicable Tax authorities consistent with the final Purchase Price Tax Allocation Schedule mutually agreed upon pursuant to this Section 7.01. 

                      The final Purchase Price Tax Allocation Schedule shall be revised to take into account subsequent adjustments to the Purchase Price, including any indemnification payments.

                   

                  Section 7.02          Tax Covenants.  Each Seller shall prepare, or cause to be prepared, all Tax Returns required to be filed by the applicable Company after the Closing Date with respect to a Tax Return
                      for a period ending on or before the Closing Date.  Any such Tax Return shall be prepared in a manner consistent with past practice (unless otherwise required by Law).  With respect to any Tax Return covering a Straddle Period that is
                      required to be filed after the Closing Date:

                   

                  (a)          Buyer shall cause such Tax Return to be prepared (in a manner consistent with practices followed in prior taxable periods and in compliance with Law except as required by a
                    change in Law or fact) and shall deliver a draft of such Tax Return to Sellers for Sellers’ review and approval at least thirty (30) days prior to the due date (including extensions) for filing such Tax Return;

                   

                  (b)           Sellers and Buyer shall cooperate and consult with each other in order to finalize such Tax Return; and

                   

                  (c)           thereafter, subject to Sellers’ payment to Buyer of any portion of such Tax in compliance with this Section 7.02 with respect to the Straddle Period, Buyer shall
                    cause such Tax Return to be executed and duly and timely filed with the appropriate Tax authority and shall pay all Taxes shown as due and payable on such Tax Return.

                   

                  Section 7.03          Tax Indemnification.

                   

                  (a)          Sellers shall indemnify the Company and Buyer and hold them harmless from and against all Taxes of the Companies for all Pre-Closing Tax Periods (“Pre-Closing Taxes”) and Sellers shall reimburse Buyer for any such Taxes pursuant to this Section 7.03 within thirty (30) days after payment of such Taxes by Buyer or the Company; provided that, Sellers
                    shall not be required to indemnify Buyer for any penalties resulting from Buyer’s failure to timely file any Tax Return.

                   

                  
                    (b)          Buyer shall indemnify Sellers for any Taxes of the Companies or relating to the business of the Companies that are prepaid by Sellers on or before the Closing Date and
                      that are applied to a taxable period after the Closing Date (including to the post-Closing portion of a Straddle Period).

                  

                   

                  

                  
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                  Section 7.04         Straddle Period.  With respect to any Company or Company Subsidiary characterized as a partnership for U.S. federal income tax purposes, Seller and Buyer agree to take into account their varying interests in such partnership
                      using the interim closing of the books method permitted by Treasury Regulation Section 1.706-1(c)(2)(ii).  Otherwise, in the case of Taxes that are payable with respect to a taxable period that begins before and ends after the Closing
                      Date (each such period, a “Straddle Period”), Sellers and Buyer shall determine the Tax attributable to the portion of the Straddle
                      Period that ends on the Closing Date as follows:

                   

                  (a)          in the case of ad valorem or property Taxes, the amount of such Taxes for the entire Straddle Period multiplied by a fraction the numerator of which is the number of days
                    in the Straddle Period ending on the Closing Date and the denominator of which is the number of days in the entire Straddle Period; and

                   

                  (b)           in the case of any other Tax, the amount which would be payable computed on a closing of the books basis as if the relevant Tax period ended as of the close of business on
                    the Closing Date.

                   

                  Section 7.05          Contests.  Buyer agrees to give prompt written notice to Sellers of the receipt of any notice by the Company, Buyer or any of Buyer’s Affiliates which involves the assertion of any claim, or the commencement of any
                      Action, in respect of which an indemnity for which Sellers may be liable pursuant to Section 7.03 (a “Tax Claim”).  Sellers
                      shall control the contest or resolution of any Tax Claim; provided, however, that Buyer shall have the right to attend or participate in respect of any such Tax Claim and Sellers shall obtain the prior written consent of Buyer before
                      entering into any settlement, compromise or commencement of litigation in respect of a Tax Claim.

                   

                  Section 7.06         Tax Refunds and Credits.  Sellers and Buyer each agree to pay to the other Parties any refund or rebate received
                    (whether by payment, credit, offset or otherwise) by it or any of its Affiliates, in respect of any Taxes for which the other Party is liable, within thirty (30) days after receipt of such refund or rebate.  Sellers and Buyer shall
                    cooperate to take any necessary steps to claim any such refund or rebate.  Schedule 7.06 lists each anticipated property tax refund claim.

                   

                  Section 7.07         Cooperation and Exchange of Information.  Sellers and Buyer shall provide each other with such cooperation and information as either of them reasonably may request of the other in determining the Purchase Price Tax Allocation Schedule, filing any
                      Tax Return pursuant to this Article VII, or in connection with any audit or other proceeding in respect of Taxes of the Company.  Such cooperation and information shall include providing copies of relevant Tax Returns or
                      portions thereof, together with accompanying schedules, related work papers and documents relating to rulings or other determinations by Tax authorities.  Each of the Sellers and Buyer shall retain all Tax Returns, schedules and work
                      papers, records and other documents in its possession relating to Tax matters of the Company for six (6) years.  Prior to transferring, destroying or discarding any Tax Returns, schedules and work papers, records and other documents
                      in its possession relating to Tax matters of the Company for any taxable period beginning before the Closing Date, Sellers or Buyer, as applicable, shall provide the other Parties with reasonable written notice and offer the other
                      Party the opportunity to take custody of such materials.  Any unresolved disputes regarding the Purchase Price Tax Allocation Schedule, filing any Tax Return pursuant to this Article VII, or in connection with any audit or
                      other proceeding in respect of Taxes of the Company will be resolved by a nationally recognized independent accounting firm mutually agreed upon by the Parties.  The costs and expenses of such
                      independent accounting firm shall be shared equally by Buyer and Seller.

                   

                  
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                  Section 7.08        Tax Treatment of Indemnification Payments.  Any indemnification payments pursuant to this Article VII shall
                    be treated as an adjustment to the Purchase Price by the Parties for Tax purposes, unless otherwise required by Law in which case such indemnification payments shall be grossed-up and paid on an after-tax basis.

                  

                  

                  Section 7.09           Survival.  Notwithstanding anything in this Agreement to the contrary, the provisions of this Article VII shall survive for the full period of all applicable statutes of limitations (giving effect to any
                      waiver, mitigation or extension thereof) plus sixty (60) days.

                  

                  

                  Section 7.10          Transfer Taxes.  All Transfer Taxes imposed on Buyer, a Seller or a Company by Law as a result of this Agreement
                    shall be paid by Buyer.  Buyer shall timely file all Tax Returns for any Transfer Tax as required by Law and shall notify Seller when such filings have been made.  This Section 7.10 shall not apply to any Transfer Taxes
                    resulting from the Project Asset Transfer, which the applicable Seller shall be solely responsible for paying.

                  

                  

                  Section 7.11          Overlap with Indemnification.  Other than with respect to claims for Recapture Liability which shall be governed by
                    Article IX, to the extent that any obligation or responsibility pursuant to Article IX may overlap with an obligation or responsibility pursuant to this Article VII, the provisions of this Article VII
                    shall govern.

                  

                  

                  ARTICLE VIII

                  Conditions to Closing

                  

                  

                  Section 8.01          Conditions to Obligations of All Parties.  The obligations of each Party to consummate the Transactions shall be
                    subject to the fulfillment (or waiver by each Party), at or prior to the Closing, of each of the following conditions:

                  

                  

                  (a)           No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Governmental Order which is in effect and has the effect of making the
                    Transactions illegal, otherwise restraining or prohibiting consummation of such Transactions or causing any of the Transactions to be rescinded following completion thereof.

                  

                  

                  
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                  (b)           Solely with respect to the Projects, Companies and Company Subsidiaries being directly or indirectly conveyed, assigned or otherwise transferred to Buyer on the Closing
                    Date, Sellers shall have received all consents, authorizations, orders and approvals from the Governmental Authorities and other Persons listed on Schedule 3.05 and Buyer shall have received all consents, authorizations, orders
                    and approvals from the Governmental Authorities listed on Schedule 5.02, in each case, in form and substance reasonably satisfactory to Buyer and Sellers, and no such consent, authorization, order and approval shall have been
                    revoked.

                  

                  

                  (c)           Sellers shall have delivered written notice to Buyer of Sellers’ account or accounts for payment by Buyer of the Closing Payment at least two (2) Business Days prior to
                    the Closing Date.

                  

                  

                  (d)           All HSR Act approvals shall have been obtained or waiting periods shall have expired or been terminated, if applicable with respect to the Transaction.

                  

                  

                  (e)           WGSW Seller and Buyer shall have entered into a mutually agreeable Purchase and Sale Agreement for the sale by WGSW Seller to Buyer of WGSW Seller’s entire ownership
                    interest in the portfolio of residential solar assets owned by ASD Solar, LP as of the Effective Date, with a base purchase price set forth on Annex V, on substantive terms similar to those contained in this Agreement as may be
                    applicable to such ownership interest.

                  

                  

                  Section 8.02          Conditions to Obligations of Buyer.  The obligations of Buyer to consummate the Transactions shall be subject to
                    the fulfillment or waiver by Buyer, at or prior to the Closing, of each of the following conditions:

                  

                  

                  (a)          The representations and warranties of each Seller contained in Article III and Article IV shall be true and correct in all respects (in the case of any
                    representation or warranty qualified by materiality or Material Adverse Effect) or in all material respects (in the case of any representation or warranty not qualified by materiality or Material Adverse Effect), except where the
                    failure of such representations and warranties to be true and correct would not reasonably be expected to have a Material Adverse Effect on the Companies.

                  

                  

                  (b)          Each Seller shall have performed and complied in all material respects with all agreements, covenants and conditions required by this Agreement to be performed or complied
                    with by it prior to or on the Closing Date, except where the failure to perform any such agreements, covenants and conditions would not reasonably be expected to be material to the applicable Company or Company Subsidiary.

                  

                  

                  (c)          Buyer shall have received a certificate, dated the Closing Date and signed by a duly authorized officer of each Seller (in his or her capacity as such, and not in a
                    personal capacity), that each of the conditions set forth in Section 8.02(a) and Section 8.02(b) have been satisfied.

                  

                  

                  
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                  (d)          Buyer shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of each Seller (in his or her capacity as such, and not in a
                    personal capacity) certifying:  (i) that attached thereto are true and complete copies of all resolutions adopted by the board of directors of such Seller authorizing the execution, delivery and performance of this Agreement and the
                    consummation of the Transactions; and (ii) the names and signatures of the officers of such Seller authorized to sign the documents to be delivered hereunder.

                  

                  

                  (e)           Each Seller shall have executed and delivered to Buyer the Transaction Documents to which it is a party.

                  

                  

                  (f)           Each Seller shall have delivered to Buyer written resignations, effective as of the Closing Date, of all officers, managers and directors (if any) of its respective
                    Companies and the respective Company Subsidiaries.

                  

                  

                  (g)           Buyer shall have received releases of liability by Seller and its affiliates of the Company and the Company Subsidiaries, in a form reasonably satisfactory to Buyer.

                  

                  

                  (h)          Buyer shall have received evidence reasonably satisfactory to Buyer that (i) the Echo Master Lease Agreement, each Transaction Document (as defined in the Echo Master Lease
                    Agreement) and all security interests, indebtedness or Encumbrances (other than Permitted Encumbrances) created or granted under or in connection with any such agreement shall have been irrevocably discharged, released or terminated
                    (including by the filing of uniform commercial code termination statements), (ii) all of the Project Assets owned by WGSW Seller as “Lessor” under the Echo Master Lease Agreement as of the Effective Date have been irrevocably
                    transferred to SF Echo, free and clear of all Encumbrances (other than Permitted Encumbrances) other than Permitted Liens; and (iii) any and all intercompany loans on Schedule 3.19 have been irrevocably discharged in full.

                  

                  

                  (i)            Buyer shall have received, in form and substance reasonably satisfactory to Buyer, amendments to or a further amendment and restatement of the Echo Assignment Agreement.

                  

                  

                  (j)            All O&M Agreements, AMAs and DAS Agreements to which a Seller or an Affiliate thereof is a party have been terminated or assigned to Buyer or the applicable Company
                    or Company Subsidiary, as applicable.

                  

                  

                  (k)           The Project Asset Transfer has been completed, other than Projects which represent less than 50 megawatts of capacity.

                  

                  

                  (l)            Buyer shall have received a copy of each Project Asset Transfer Agreement.

                  

                  

                  
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                  (m)          Seller shall have provided Buyer with access (including by electronic delivery) to the books and records of the Company, the Company Subsidiaries and the Projects relating
                    to periods prior to the Closing Date (in each case, for the immediately preceding three (3) years), to the extent such books are records are reasonably available to the Company or any Company Affiliate.

                  

                  

                  (n)           Buyer has received appraisals and cost segregation reports in respect of each applicable Project for which Seller possesses appraisals and cost segregation reports.

                  

                  

                  (o)          With respect to each applicable Project, Buyer has received a detailed breakdown of the costs and expenses incurred by Seller or its Affiliates with respect to each such
                    Project, including: (i) the commercial operation date; and (ii) if applicable, the delivery commencement date.

                  

                  

                  (p)          Except for the SFEE Tax Equity Guaranty, which shall remain in place in its form as of the Effective Date following the Closing Date, each Tax Equity Guaranty shall be
                    amended, amended and restated and/or assigned to Buyer or an Affiliate thereof (in each case, as permitted pursuant to, and in accordance with, the terms and conditions of the applicable
                    limited liability company agreement of SFGF, SFGF II, SFEE and SFRC) such that: (i) the WGL Tax Equity Guarantor remains responsible for and retains the obligations under the applicable WGL Tax Equity Guaranty for all Liabilities
                    relating to or pertaining to the applicable Projects, Company and Company Subsidiaries arising under, or related to, the period prior to the Closing Date and any Recapture Liability; and (ii) Buyer or

                    an Affiliate thereof (in each case, as permitted pursuant to, and in accordance with, the terms and conditions of the applicable limited liability company agreement of SFGF, SFGF II, SFEE and SFRC) assumes the obligations for all
                    Liabilities relating to or pertaining to the applicable Projects, Company and Company Subsidiaries arising under, or related to, the period from and following the Closing Date.

                  

                  

                  (q)           No Material Adverse Effect with respect to the Companies (collectively) shall have occurred after the Effective Date that is continuing.

                  

                  

                  (r)            Sellers have delivered or complied with, as applicable, all the items listed on Annex I.

                  

                  

                  (s)            Buyer shall have received evidence reasonably satisfactory to it that each covenant and agreement set forth in Section 6.06(f) shall have been completed and
                    satisfied in all respects.

                  

                  

                  Section 8.03          Conditions to Obligations of Sellers.  The obligations of Sellers to consummate the Transactions shall be subject
                    to the fulfillment or Seller’s waiver, at or prior to the Closing, of each of the following conditions:

                  

                  

                  
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                  (a)         The representations and warranties of Buyer contained in Article V shall be true and correct in all respects (in the case of any representation or warranty qualified
                    by materiality or Material Adverse Effect) or in all material respects (in the case of any representation or warranty not qualified by materiality or Material Adverse Effect), except where the failure of such representations and
                    warranties to be true and correct would not materially impair Buyer’s authority, right or ability to consummate the Transactions.

                  

                  

                  (b)           Buyer shall have duly performed and complied in all material respects with all agreements, covenants and conditions required by this Agreement to be performed or complied
                    with by it prior to or on the Closing Date.

                  

                  

                  (c)           Sellers shall have received a certificate, dated the Closing Date and signed by a duly authorized officer of Buyer (in his or her capacity as such, and not in a personal
                    capacity), that each of the conditions set forth in Section 8.03(a) and Section 8.03(b) have been satisfied.

                  

                  

                  (d)           Sellers shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of Buyer (in his or her capacity as such, and not in a
                    personal capacity) certifying: (i) that Buyer has all necessary corporate approvals; and (ii) the names and signatures of the officers of Buyer authorized to sign the documents to be delivered hereunder.

                  

                  

                  (e)           Buyer shall have executed and delivered to Sellers the Transaction Documents to which it is a party.

                  

                  

                  (f)            Buyer shall have delivered to Sellers cash in an amount equal to the Closing Payment (less the Deposit and the interest accrued
                    thereon, which shall be transferred from the account held by the Escrow Agent to Sellers pursuant to the Escrow Agreement) by wire transfer in immediately available funds, to an account or accounts designated by Sellers.

                  

                  

                  ARTICLE IX

                  Indemnification

                  

                  

                  Section 9.01         Survival.  Subject to the limitations and other provisions of this Agreement, the representations and warranties contained herein shall survive the Closing and shall remain in full force and effect twelve (12) months after the Closing Date, except for:  (a) the representations and warranties in Section 3.14 (Environmental Representations), which shall survive for three (3) years after the Closing Date, (b) the representations and warranties in Section 3.16 (Tax Representations), which shall survive until the expiration of the applicable statute of limitations plus sixty (60) days, (c) the representations and warranties in Section 4.02(b) (Title Representations), which shall survive for two (2) years after the Closing Date; and (d) the Fundamental Representations, which shall survive for six (6) years after the Closing Date.  None of the covenants or other
                      agreements contained in this Agreement shall survive the Closing Date other than Article VII and those which by their terms contemplate performance after the Closing Date, and each such surviving covenant and agreement shall
                      survive the Closing for the period contemplated by its terms.  Notwithstanding the foregoing, any claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from the
                      non-breaching Party to the breaching Party prior to the expiration date of the applicable survival period shall not thereafter be barred by the expiration of such survival period, and such claims shall survive until finally resolved.

                   

                    

                  
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                  Section 9.02         Indemnification by Sellers.  Subject to the other terms and conditions of this Article IX, each Seller shall severally and not jointly, in proportion to their respective share of the Purchase Price, indemnify Buyer, its
                      Affiliates and their respective shareholders, members, officers, managers, directors, employees, agents, attorneys and representatives and successors and assigns (collectively, the “Buyer Indemnified Parties”) against, and shall hold the Buyer Indemnified Parties harmless from and against, any and all Losses incurred or sustained by, or imposed upon, the Buyer
                      Indemnified Parties based upon, arising out of, with respect to or by reason of: (a) any inaccuracy in or breach of any of the representations or warranties
                      of such Seller contained in this Agreement; (b) any breach or non-fulfillment of any covenant, agreement or obligation to be performed by such Seller pursuant to this Agreement; (c) any Recapture Liability; (d) any deficiencies in the amount of Seller Cash Collateral relative to the amount paid by Buyer pursuant to Section 2.6(a); (e) any claim for Fraud, gross negligence or willful misconduct of Sellers or the Company; and (f) any Late QF Project Certification Liability.

                  

                  

                  Section 9.03          Indemnification by Buyer.  Subject to the other terms and conditions of this Article IX, Buyer shall indemnify each Seller, its Affiliates and their respective shareholders, members, officers, managers, directors, employees,
                      agents, attorneys and representatives and successors and assigns (collectively, the “Seller Indemnified Parties”) against, and shall
                      hold the Seller Indemnified Parties harmless from and against, any and all Losses incurred or sustained by, or imposed upon, the Seller Indemnified Parties based upon, arising out of, with respect to or by reason of: (a) any inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement; or (b) any
                      breach or non-fulfillment of any covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement.

                  

                  

                  Section 9.04        Certain Limitations.  The Party making a claim under this Article IX is referred to as the “Indemnified Party,” and the Party against whom such claims are asserted under this Article IX is referred to as the “Indemnifying Party.”  The indemnification provided for in Section 9.02 and Section 9.03, as applicable, shall be subject to the following limitations:

                  

                  

                  (a)           In no event shall Sellers have any obligation to indemnify any Buyer Indemnified Party for any claim pursuant to Section 9.02(a) (other than: (i) for the Tax
                    Representations and the Fundamental Representations; or (ii) in the case of Fraud) if the Losses incurred by the Buyer Indemnified Party with respect to such claim are less than or equal to $100,000 (the “Claim Threshold”).

                  

                  

                  
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                  (b)          Sellers shall not be liable to any Buyer Indemnified Party for indemnification under Section 9.02(a) (other than: (i) for the Tax Representations and the
                    Fundamental Representations; or (ii) in the case of Fraud) until the aggregate amount of all Losses incurred by the Buyer Indemnified Party, subject to the Claim Threshold, equals or exceeds an amount equal to one-half percent (0.5%) of
                    the Purchase Price (the “Deductible”), in which event Sellers shall be liable for all Losses to the extent
                    such Loss are in excess of the Deductible.

                  

                  

                  (c)           The aggregate amount of all Losses for which Sellers shall be liable to any Buyer Indemnified Party for indemnification under:

                  

                  

                  (i)           Section 9.02(a) (other than: (i) for the Tax Representations, the Title Representations, and the
                    Fundamental Representations; or (ii) in the case of Fraud) shall not exceed an amount equal to ten percent (10%) of the Purchase Price;

                  

                  

                  (ii)          Section 9.02(a) (with respect to any inaccuracy or breach of any Title Representations) shall not
                    exceed the applicable portion of the Purchase Price set forth on Annex IV relating to the Projects affected by such inaccuracy or breach and

                  

                  

                  (iii)         Section 9.02(a) (with respect to any inaccuracy or breach of any Fundamental Representations or Tax
                    Representations), Section 9.02(b), and Section 9.02(d) shall not exceed the Purchase Price;

                  

                  

                  provided, that the aggregate amount which all of the Buyer Indemnified Parties will be entitled to receive with
                      respect to any claims for indemnification arising out of Section 9.02(a) (solely in the case of Fraud), Section 9.02(c), Section 9.02(e) and Section 9.02(f) shall
                      not be capped.

                  

                  

                  (d)           The aggregate amount of all Losses for which Buyer shall be liable to any Seller Indemnified Party for indemnification under:

                  

                  

                  (i)           Section 9.03(a) (other than the Buyer Fundamental Representations) shall not exceed an amount equal to
                    ten percent (10%) of the Purchase Price;

                  

                  

                  (ii)          Section 9.03(a) (with respect to any inaccuracy or breach of any Buyer Fundamental Representations) or Section 9.03(b) shall not exceed
                    the Purchase Price.

                  

                  

                  (e)          Payments by an Indemnifying Party pursuant to Section 9.02 or Section 9.03, as applicable, in respect of any Loss shall be limited to the amount of any
                    liability or damage that remains after deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received or reasonably expected to be received by the Indemnified Party (or the Company) in
                    respect of any such claim; provided, however, the Indemnified Party shall not be obligated to seek recovery under any insurance policies.

                  

                  

                  
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                  (f)           Each Indemnified Party hereby acknowledges its obligations under the common law doctrine of mitigation, as it may apply to any Losses claimed by such Party under this Article

                      IX.

                  

                  

                  (g)          IN NO EVENT SHALL ANY INDEMNIFYING PARTY BE LIABLE TO ANY INDEMNIFIED PARTY FOR ANY PUNITIVE, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY LOSSES OR DAMAGES OF ANY
                    NATURE, OR ANY DAMAGES BASED ON ANY TYPE OF MULTIPLE REGARDLESS OF WHETHER SAID CLAIM IS BASED ON CONTRACT, TORT, STRICT LIABILITY, OR OTHER THEORY OF LAW OR OTHERWISE AND WHETHER OR NOT ARISING FROM THE OTHER PARTY’S OR ANY OF ITS
                    AFFILIATES’ NOR ANY OF THEIR RESPECTIVE REPRESENTATIVES’ SOLE, JOINT OR CONCURRENT NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT (COLLECTIVELY, “NON-REIMBURSABLE DAMAGES”).  THE FOREGOING
                    LIMITATIONS SHALL NOT APPLY TO DAMAGES: (I) THAT ARE ASSERTED BY AN UNAFFILIATED THIRD PARTY FOR WHICH A PARTY IS EXPRESSLY ENTITLED TO INDEMNIFICATION UNDER THIS AGREEMENT; OR (II) RESULTING FROM A CLAIM RELATED TO BUYER’S BREACH OF
                    CONFIDENTIAL INFORMATION OR INTELLECTUAL PROPERTY RIGHTS WITH RESPECT TO THE PROJECTS.

                  

                  

                  Section 9.05          Indemnification Procedures.

                  

                  

                  (a)          Third-Party Claims.  If any Indemnified Party receives notice of the assertion or commencement of any Action or other legal
                    proceeding made or brought by any Person who is not a Party to this Agreement or an Affiliate of a Party to this Agreement or a Representative or counsel of the foregoing (a “Third-Party

                        Claim”) against such Indemnified Party with respect to which the Indemnifying Party is obligated to provide indemnification under this Agreement, the Indemnified Party shall give the Indemnifying Party prompt written
                    notice thereof.  The failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying Party forfeits rights or defenses
                    by reason of such failure.  Such notice by the Indemnified Party shall describe the Third-Party Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if
                    reasonably practicable, of the Loss that has been or may be sustained by the Indemnified Party.  The Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified Party, to assume the defense
                    of any Third-Party Claim at the Indemnifying Party’s sole cost and expense and by the Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such defense; provided, in advance of its exercise of
                    such right, the Indemnifying Party shall deliver to the Indemnified Party an acknowledgement in writing of the unqualified obligation of the Indemnifying Party to indemnify the Indemnified Party for such claim; provided, however, such
                    right of the Indemnifying Party shall not apply to any claims that relate to or involve: (i) alleged violations of criminal law; (ii) any claim seeking specific performance or injunctive relief; or (iii) an amount in controversy that is
                    in excess of the liability limitations for the applicable subject matter in this Agreement.  In the event that the Indemnifying Party assumes the defense of any Third-Party Claim, subject to Section 9.05(b), it shall have the
                    right to take such action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third-Party Claim in the name and on behalf of the Indemnified Party.  The Indemnified Party shall have the
                    right, at its own cost and expense, to participate in the defense of any Third-Party Claim with counsel selected by it subject to the Indemnifying Party’s right to control the defense thereof.  If the Indemnifying Party elects not to
                    compromise or defend such Third-Party Claim or fails to promptly notify the Indemnified Party in writing of its election to defend as provided in this Agreement, the Indemnified Party may, subject to Section 9.05(b), pay,
                    compromise or defend such Third-Party Claim and seek indemnification for any and all Losses based upon, arising from or relating to such Third-Party Claim.  Sellers and Buyer shall cooperate with each other in all reasonable respects in
                    connection with the defense of any Third-Party Claim, including making available (subject to the provisions of Section 6.05) records relating to such Third-Party Claim and furnishing, without expense (other than reimbursement of
                    actual out-of-pocket expenses) to the defending party, management employees of the non-defending party as may be reasonably necessary for the preparation of the defense of such Third-Party Claim.

                   

                    
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                    (b)          Settlement of Third-Party Claims.  Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not
                      enter into settlement of any Third-Party Claim without the prior written consent of the Indemnified Party, except as provided in this Section 9.05(b).  If a firm offer is made to settle a Third-Party Claim without leading to
                      Liability or the creation of a financial or other obligation on the part of the Indemnified Party and provides, in customary form, for the unconditional release of each Indemnified Party from all Liabilities and obligations in
                      connection with such Third-Party Claim and the Indemnifying Party desires to accept and agree to such offer, the Indemnifying Party shall give written notice to that effect to the Indemnified Party.  If the Indemnified Party fails to
                      consent to such firm offer within ten (10) days after its receipt of such notice, the Indemnified Party may continue to contest or defend such Third-Party Claim and in such event, the maximum Liability of the Indemnifying Party as to
                      such Third-Party Claim shall not exceed the amount of such settlement offer.  If the Indemnified Party fails to consent to such firm offer and also fails to assume defense of such Third-Party Claim, the Indemnifying Party may settle
                      the Third-Party Claim upon the terms set forth in such firm offer to settle such Third-Party Claim.  If the Indemnified Party has assumed the defense pursuant to Section 9.05(a), it shall not agree to any settlement without
                      the written consent of the Indemnifying Party.

                    

                    

                    (c)           Direct Claims.  Any claim by an Indemnified Party on account of a Loss which does not result from a Third-Party Claim (a
                      “Direct Claim”) shall be asserted by the Indemnified Party giving the Indemnifying Party prompt written notice thereof.  The failure to give such prompt written
                      notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure.  Such notice by the
                      Indemnified Party shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may
                      be sustained by the Indemnified Party.  The Indemnifying Party shall have thirty (30) days after its receipt of such notice to respond in writing to such Direct Claim, which response may include a statement that the Indemnifying Party
                      intends to attempt to cure the matter giving rise to the Direct Claim.  If the Indemnifying Party states that it intends to cure the matter giving rise to the Direct Claim, the Indemnifying Party shall have a period of thirty (30)
                      days in which to effect a cure (such period shall be automatically extended for a period of up to an additional sixty (60) days if the Indemnifying Party is diligently attempting to effect a cure but needs additional time to do so)
                      (such period, including any extension, the “Cure Period”).  During such thirty (30)-day period following receipt by the Indemnifying Party of the notice of the Direct Claim and during the
                      Cure Period, the Indemnified Party shall provide reasonable access to the Company’s premises and personnel and the right to examine and copy any accounts, documents or records in connection with the Indemnifying Party and its
                      professional advisors’ investigation of the matter or circumstance alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect of the Direct Claim; provided, however, that any such investigation or access shall not:  (i) interfere unreasonably with normal operations of any Indemnifying Party; (ii) violate any applicable Laws or safety and security procedures
                      or rules of any Indemnifying Party; (iii) in the reasonable opinion of counsel, infringe upon any attorney-client work product or like privilege; or (iv) require the Indemnifying Party to disclose any information that it considers in
                      good faith to be confidential or proprietary or that would be adverse to its interests in a legal proceeding.  If the Indemnifying Party does not respond to the notice of Direct Claim within the thirty (30)-day period provided above
                      for such response or does not cure the matter giving rise to the Direct Claim within the Cure Period, the Indemnifying Party shall be deemed to have rejected such claim, in which case the Indemnified Party shall be free to pursue such
                      remedies as may be available to the Indemnified Party on the terms and subject to the provisions of this Agreement.

                    

                    

                    Section 9.06       Tax Treatment of Indemnification Payments.  All indemnification payments made under this Agreement shall be treated
                      by the Parties as an adjustment to the Purchase Price for Tax purposes, unless otherwise required by Law in which case such indemnification payments shall be grossed-up and paid on an after-tax basis.

                    

                    

                    
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                    Section 9.07          Exclusive Remedies.  The Parties acknowledge and agree that their sole and exclusive remedy with respect to any
                      and all claims (other than claims made under Article VII or arising from Fraud on the part of a Party in connection with the Transactions) for any breach of any representation, warranty, covenant, agreement or obligation set
                      forth herein or any claim otherwise relating to the Project Assets or subject matter of this Agreement, shall be pursuant to the indemnification provisions set forth in this Article IX.  In furtherance of the foregoing, each
                      Party hereby waives, to the fullest extent permitted under Law, any and all rights, claims and causes of action for any breach of any representation, warranty, covenant, agreement or obligation set forth herein it may have against the
                      other Party and their Affiliates and each of their respective Representatives and counsel arising under or based upon any Law, except pursuant to the indemnification provisions set forth in Article VII or this Article IX. 

                      Nothing in this Section 9.07 shall limit any Person’s right to seek and obtain any equitable relief to which any Person shall be entitled pursuant to Section 11.11 or to seek any remedy on account of Fraud by any Party.

                    

                    

                    ARTICLE X

                    Termination

                    

                    

                    Section 10.01        Termination.  This Agreement may be terminated at any time prior to the Closing:

                    

                    

                    (a)           by the mutual written consent of Sellers and Buyer;

                    

                    

                    (b)           by Buyer by written notice to Sellers if:

                    

                    

                    (i)          Buyer is not then in material breach of any provision of this Agreement and there has been a material breach, inaccuracy in or failure to perform any
                      representation, warranty, covenant or agreement made by a Seller pursuant to this Agreement that would give rise to the failure of any of the conditions specified in Article VIII and such breach, inaccuracy or failure cannot
                      be cured by such Seller on or before the date that is the later of (A) six (6) months after the Effective Date and (B) three (3) months following receipt of written notice of such breach, inaccuracy or failure, provided, that such
                      cure period shall not extend beyond the later of (x) twelve (12) months after the Effective Date and (y) thirty (30) days following any receipt during the twelfth (12th) month after the Effective Date of written notice of such breach, inaccuracy or failure, unless otherwise agreed in writing by the Parties   (the “Outside Termination Date”);

                    

                    

                    (ii)         any of the conditions set forth in Section 8.01 or Section 8.02 shall not have been fulfilled by the Outside Termination Date, unless
                      such failure shall be due to the failure of Buyer to perform or comply with any of the covenants, agreements or conditions hereof to be performed or complied with by it prior to the Closing; or

                    

                    

                    (c)           by a Seller by written notice to Buyer if:

                    

                    

                    
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                    (i)          Seller is not then in material breach of any provision of this Agreement and there has been a material breach, inaccuracy in or failure to perform any
                      representation, warranty, covenant or agreement made by Buyer pursuant to this Agreement that would give rise to the failure of any of the conditions specified in Article VIII, and such breach, inaccuracy or failure cannot be
                      cured by Buyer on or before the Outside Termination Date, unless otherwise agreed in writing by the Parties; or

                    

                    

                    (ii)         any of the conditions set forth in Section 8.01 or Section 8.03 shall not have been fulfilled by the Outside Termination Date, unless
                      such failure shall be due to the failure of such Seller to perform or comply with any of the covenants, agreements or conditions hereof to be performed or complied with by it prior to the Closing; or

                    

                    

                    (d)           by Buyer or a Seller in the event that:

                    

                    

                    (i)           there shall be any Law that makes consummation of the Transactions illegal or otherwise prohibited; or

                    

                    

                    (ii)         any Governmental Authority shall have issued a Governmental Order (including with respect to the HSR Act, if applicable) restraining or enjoining the
                      Transactions, and such Governmental Order shall have become final and non-appealable.

                    

                    

                    Section 10.02        Termination Fee.

                    

                    

                    (a)          In the event of the termination of this Agreement by a Seller in accordance with Section 10.01(c)(i), Buyer shall immediately pay to Sellers, as liquidated
                      damages in connection with any such termination, a fee in the amount of the Deposit and the interest accrued thereon (the “Termination Fee”); provided, payment of such Termination
                      Fee by Buyer to Sellers shall be satisfied through application of the Deposit and the interest accrued thereon provided by Buyer to Sellers in accordance with Section 2.03.

                    

                    

                    (b)           Upon Sellers’ receipt of the Termination Fee:  (i) no Seller or Affiliate of any Seller shall have any rights or claims against Buyer or any Affiliate of Buyer relating
                      to this Agreement or the other Transaction Documents or any of the Transactions (other than the Surviving Obligations), whether at law, in equity, in contract, in tort or otherwise; and (ii) Buyer shall have no further liability to
                      the Sellers, the Companies or any Affiliate of Sellers with respect to this Agreement or the Transactions (other than the Surviving Obligations).  If Buyer is required to pay the Termination Fee pursuant to this Section 10.02,
                      payment of the Termination Fee shall be the sole and exclusive remedy of the Sellers, the Companies or any of their respective former, current and future Affiliates, directors, officers, employees, incorporators, shareholders,
                      members, managers, partners, agents, attorneys, other representatives, successors and/or assigns against Buyer and any of its respective former, current and future Affiliates, directors, officers, employees, incorporators,
                      shareholders, members, managers, partners, agents, attorneys, other representatives, successors and/or assigns (the “Buyer Related Parties”) for any Losses suffered or incurred as a result of or
                      under this Agreement, the other Transaction Documents or the Transactions, including the failure of the Closing to occur (other than the Surviving Obligations).  The Parties acknowledge and agree that in no event shall Buyer be
                      required to pay the Termination Fee on more than one occasion or, together with the Buyer Related Parties, have any liability in excess of the Termination Fee under this Agreement prior to the Closing under any circumstances.  

                    

                    

                    
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                    (c)           In the event of the termination of this Agreement in accordance with Section 10.01 that does not require payment of the Termination Fee, in accordance with Section

                        10.02(a), Sellers shall return the Deposit and the interest accrued thereon to Buyer.

                    

                    

                    (d)          Buyer and Sellers acknowledge and agree that the agreements contained in this Section 10.02 are an integral part of the Transactions and that, without these
                      agreements, the Sellers and Buyer would not enter into this Agreement.  Each of the Parties further acknowledges that the payment by Buyer of the Termination Fee is not a penalty, but constitutes liquidated damages in a reasonable
                      amount that will compensate the Sellers in the circumstances in which such fee is payable for the efforts and resources expended and the opportunities foregone while negotiating this Agreement and in reliance on this Agreement and on
                      the expectation of the consummation of the Transactions, which amounts would otherwise be impossible to calculate with precision.

                    

                    

                    Section 10.03        Effect of Termination.  In the event of the termination of this Agreement in accordance with this Article X,
                      this Agreement shall forthwith become void and there shall be no liability on the part of any Party except:

                    

                    

                    (a)            as set forth in Section 6.05, Section 6.09, this Article X and Article XI; and

                    

                    

                    (b)            that nothing herein shall relieve any Party from liability for Fraud (clause (a) and clause (b), collectively,
                      the “Surviving Obligations”).

                    

                    

                    ARTICLE XI

                    Miscellaneous

                    

                    

                    Section 11.01        Expenses.  Except as otherwise expressly provided herein (including Section 7.10), all costs and expenses,
                      including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the Transactions shall be paid by the Party incurring such costs and expenses, whether or not the Closing
                      shall have occurred.

                    

                    

                    
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                    Section 11.02        Notices.  All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in
                      writing and shall be deemed to have been given:  (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on
                      the date sent by e-mail (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the
                      date mailed, by certified or registered mail, return receipt requested, postage prepaid.  Such communications must be sent to the respective Parties at the following addresses (or at such other address for a Party as shall be
                      specified in a notice given in accordance with this Section 11.02):

                     

                    

                    If to Sellers:

                    

                    

                    [REDACTED]

                    

                    

                    With a copy to:

                    

                    

                    [REDACTED]

                    

                    

                    If to Buyer:

                    

                    

                     [REDACTED]

                     

                    

                    Section 11.03        Interpretation.  For purposes of this Agreement:

                    

                    

                    (a)           in the event that there is any conflict between this Agreement and the Confidentiality Agreement, the terms of this Agreement shall apply;

                    

                    

                    (b)           the words “include,” “includes” and “including” shall be deemed to be followed by the words “without limitation”;

                    

                    

                    (c)           the use of the word “or” shall be construed as inclusive (e.g., “A or B” means “A or B, or both”);

                    

                    

                    (d)           the words “herein,” “hereof,” “hereby,” and “hereunder” refer to this Agreement as a whole;

                    

                    

                    (e)            references to Persons include their respective successors and permitted assigns and, in the case of Governmental Authorities, Persons succeeding to their respective
                      functions and capacities;

                    

                    

                    (f)            the definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and
                      neuter genders of such terms;

                    

                    

                    
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                    (g)           except where otherwise expressly provided for herein, any consent from a Party contemplated by this Agreement shall not be unreasonably withheld, conditioned or delayed
                      by such Party;

                    

                    

                    (h)           unless the context otherwise requires, references herein:  (i) to Articles, Sections, Schedules and Exhibits mean the Articles and Sections of, and Schedules and
                      Exhibits attached to, this Agreement; (ii) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the
                      provisions thereof; and (iii) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder;

                    

                    

                    (i)            this Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting an instrument or causing
                      any instrument to be drafted;

                    

                    

                    (j)            the Schedules and Exhibits referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent as if they were set forth verbatim
                      herein; and

                    

                    

                    (k)           whenever the deadline for performance of an obligation falls on a day that is not a Business Day, the deadline for performance of such obligation shall be extended to
                      the next Business Day.

                    

                    

                    Section 11.04        Headings.  The headings in this Agreement are for reference only and shall not affect the interpretation of this
                      Agreement.

                    

                    

                    Section 11.05        Severability.  If any term or provision of this Agreement is invalid, illegal or unenforceable in any
                      jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.  Upon such
                      determination that any term or other provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a
                      mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the greatest extent possible.

                    

                    

                    Section 11.06        Entire Agreement.  This Agreement, the other Transaction Documents and the Confidentiality Agreement constitute
                      the sole and entire agreement of the Parties to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous representations, warranties, understandings and agreements,
                      both written and oral, with respect to such subject matter.  In the event of any inconsistency between the statements in the body of this Agreement, the Exhibits and Schedules (other than an exception expressly set forth as such in
                      the Schedules), the statements in the body of this Agreement shall control.

                    

                    

                    
                      69

                      
                        

                    

                    Section 11.07       Successors and Assigns.  This Agreement shall be binding upon and shall inure to the benefit of the Parties and
                      their respective successors and permitted assigns.  No Party may not assign its rights or obligations hereunder without the prior written consent of each other Party in its sole discretion.

                    

                    

                    Section 11.08       No Third-Party Beneficiaries.  Except as provided in Section 6.04, this Agreement is for the sole benefit
                      of the Parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit or remedy of any nature
                      whatsoever under or by reason of this Agreement; provided, that the Buyer Indemnified Parties and Seller Indemnified Parties are express third-party beneficiaries of Article VI.

                    

                    

                    Section 11.09       Amendment and Modification; Waiver.  This Agreement may only be amended, modified or supplemented by an agreement
                      in writing signed by each Party.  No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the Party so waiving.  No waiver by any Party shall operate or be
                      construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver.  No failure to
                      exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
                      hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

                    

                    

                    Section 11.10        Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

                    

                    

                    (a)          THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS BY THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF EXCEPT FOR SECTION
                      5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

                    

                    

                    (b)         ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE TRANSACTIONS MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OF
                      AMERICA IN THE SOUTHERN DISTRICT OF NEW YORK OR THE COURTS OF THE STATE OF NEW YORK IN EACH CASE LOCATED IN THE COUNTY OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT,
                      ACTION OR PROCEEDING.  SERVICE OF PROCESS, SUMMONS, NOTICE OR OTHER DOCUMENT BY MAIL TO SUCH PARTY’S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. 
                      THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT,
                      ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

                    

                    

                    
                      70

                      
                        

                    

                    (c)          EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH
                      SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS.  EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: 
                      (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION; (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF
                      THIS WAIVER; (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.10(C).

                    

                    

                    Section 11.11       Specific Performance.  The Parties agree that irreparable damage would occur if any provision of this Agreement
                      were not performed in accordance with the terms hereof and that the Parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity, subject to Section

                        10.02.

                    

                    

                    Section 11.12        Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all
                      of which together shall be deemed to be one and the same agreement.  A signed copy of this Agreement delivered by facsimile, e‐mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of
                      an original signed copy of this Agreement.

                    

                    

                    Section 11.13        Non-Recourse.  Without limiting the other Transaction Documents, (a) this Agreement may only be enforced against,
                      and any Action or other legal proceeding based upon, arising out of, or related to this Agreement, or the negotiation, execution or performance of this Agreement, may only be brought against the entities that are expressly named as
                      Parties and then only with respect to the specific obligations set forth herein with respect to such Party; and (b) no past, present or future director, officer, employee, incorporator, manager, member, partner, stockholder,
                      Affiliate, agent, attorney or other Representative of any Party or of any Affiliate of any Party, or any of their successors or permitted assigns, shall have any Liability for any obligations or Liabilities of any Party under this
                      Agreement or for any claim or Action based on, in respect of or by reason of the Transactions.

                    

                    

                    [SIGNATURE PAGE FOLLOWS]

                    

                    

                    
                      71

                      
                        

                    

                    IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the date first written above by their respective officers
                      thereunto duly authorized.

                    

                    

                    	 	
                            WGL ENERGY SYSTEMS, INC.

                          
	 	 

                    	 	By

                          	
                            /s/ Peter Ledig

                          

                    
                      	
                               

                            	
                              Name:

                            	
                              Peter Ledig

                            
	
                               

                            	
                              Title:

                            	
                              President

                            

                    

                    

                    

                    	 	
                            WGSW, INC.

                          

                    

                    

                    	 	By

                          	
                            /s/ Peter Ledig

                          

                    	 	Name:	
                            Peter Ledig

                          
	 	Title:	
                            President

                          

                    

                    

                    	 	
                            TERRAFORM ARCADIA 

                            HOLDINGS, LLC

                          

                    

                    

                    	 	By

                          	
                            /s/ William Fyfe

                          

                    	 	Name:	
                            William Fyfe

                          
	 	Title:	
                            General Counsel

                          

                    

                    

                    

                    

                    72EX-4.1

 Exhibit 4.1 

ATARA BIOTHERAPEUTICS, INC. 

FORM OF WARRANT TO PURCHASE COMMON STOCK 

Number of Shares: [    ] (subject to adjustment) 
  

			
	Warrant No. [    ]	  	Original Issue Date: July [    ], 2019

 Atara Biotherapeutics, Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [    ] or its registered assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the
Company up to a total of [    ] shares of common stock, $0.0001 par value per share (the “Common Stock”), of the Company (each such share, a “Warrant Share” and all such shares, the
“Warrant Shares”) at an exercise price per share equal to $0.0001 per share (as adjusted from time to time as provided in Section 9 herein, the “Exercise Price”) upon surrender of this Warrant to Purchase
Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”) at any time and from time to time on or after the date hereof (the “Original Issue
Date”) and through and including 5:30 P.M., New York City time, on the date that is seven (7) years following the Original Issue Date (the “Expiration Date”), subject to the following terms and conditions: 

1. Definitions. For purposes of this Warrant, the following terms shall have the following meanings: 

(a) “Affiliate” means any Person directly or indirectly controlled by, controlling or under common control with, a Holder, as
such terms are used in and construed under Rule 405 under the Securities Act, but only for so long as such control shall continue. 
 (b)
“Commission” means the United States Securities and Exchange Commission. 
 (c) “Closing Sale Price”
means, for any security as of any date, the last trade price for such security on the Principal Trading Market for such security, as reported by Bloomberg L.P., or, if such Principal Trading Market begins to operate on an extended hours basis and
does not designate the last trade price, then the last trade price of such security prior to 4:00 P.M., New York City time, as reported by Bloomberg L.P., or if the security is not listed for trading on a national securities exchange or other
trading market on the relevant date, the last quoted bid price for the security in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc.
(or a similar organization or agency succeeding to its functions of reporting prices). If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such
date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then the Board of Directors of the Company shall use its good
faith judgment to determine the fair market value. The Board of Directors’ determination shall be binding upon all parties absent demonstrable error. All such determinations shall be appropriately adjusted for any stock dividend, stock split,
stock combination or other similar transaction during the applicable calculation period. 
 (d) “Marketable Securities”
means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and is then current in its filing of all required reports and other information under the Securities Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder
in connection with the Fundamental Transaction (as defined below) were Holder to exercise this Warrant on or prior to the closing thereof is then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market, and (iii) following the closing of such Fundamental Transaction, the Holder would not be restricted from publicly
re-selling all of the issuer’s shares and/or other securities that would be received by the Holder in such Fundamental Transaction were the Holder to exercise or convert this Warrant in full on or prior
to the closing of such Fundamental Transaction, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the
closing of such Fundamental Transaction. 
 (e) “Principal Trading Market” means the national securities exchange or other
trading market on which the Common Stock is primarily listed on and quoted for trading, which, as of the Original Issue Date, shall be the Nasdaq Global Select Market. 

 (f) “Registration Statement” means the Company’s Registration
Statement on Form S-3ASR (File No. 333- 223262), that automatically became effective on February 27, 2018. 

(g) “Securities Act” means the Securities Act of 1933, as amended. 

(h) “Trading Day” means any weekday on which the Principal Trading Market is open for trading. If the Common Stock is not
listed or admitted for trading, “Trading Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in New York City are authorized or required
by law or other governmental action to close. 
 (i) “Transfer Agent” means Computershare Trust Company, N.A., the
Company’s transfer agent and registrar for the Common Stock, and any successor appointed in such capacity. 
 2. Issuance of Securities;
Registration of Warrants. The Warrant, as initially issued by the Company, is offered and sold pursuant to the Registration Statement. As of the Original Issue Date, the Warrant Shares are issuable under the Registration Statement. Accordingly,
the Warrant and, assuming issuance pursuant to the Registration Statement or an exchange meeting the requirements of Section 3(a)(9) of the Exchange Act as in effect on the Original Issue Date, the Warrant Shares, are not “restricted
securities” under Rule 144 promulgated under the Securities Act. The Company shall register ownership of this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the
record Holder (which shall include the initial Holder or, as the case may be, any assignee to which this Warrant is assigned hereunder) from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner
hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary. 
 3.
Registration of Transfers. Subject to compliance with all applicable securities laws, the Company shall, or will cause its Transfer Agent to, register the transfer of all or any portion of this Warrant in the Warrant Register, upon surrender
of this Warrant, and payment for all applicable transfer taxes (if any). Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant (any such new warrant, a “New
Warrant”) evidencing the portion of this Warrant so transferred shall be issued to the transferee, and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder.
The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations in respect of the New Warrant that the Holder has in respect of this Warrant. The Company shall, or
will cause its Transfer Agent to, prepare, issue and deliver at the Company’s own expense any New Warrant under this Section 3. Until due presentment for registration of transfer, the Company may treat the registered Holder hereof as the
owner and holder for all purposes, and the Company shall not be affected by any notice to the contrary. 
 4. Exercise and Duration of Warrants. 

(a) All or any part of this Warrant shall be exercisable by the registered Holder in the manner set forth in Section 10 at any time and
from time to time on or after the Original Issue Date and through and including 5:30 P.M., New York City time, on the Expiration Date. 

(b) The Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in the form attached as Schedule 1 hereto
(the “Exercise Notice”), completed and duly signed, and (ii) payment of the Exercise Price for the number of Warrant Shares as to which this Warrant is being exercised (which will take the form of a “cashless
exercise” pursuant to Section 10 below). The date on which such exercise notice is delivered to the Company (as determined in accordance with the notice provisions hereof) is an “Exercise Date.” The Holder shall not be
required to deliver the original Warrant in order to effect an exercise hereunder. Execution and delivery of the Exercise Notice shall have the same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to
purchase the remaining number of Warrant Shares, if any. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof. 

  
 2 

 5. Delivery of Warrant Shares. 

(a) Upon exercise of this Warrant, the Company shall promptly (but in no event later than three (3) Trading Days after the Exercise
Date), upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account with The Depository Trust Company
(“DTC”) through its Deposit Withdrawal Agent Commission system, or if the Transfer Agent is not participating in the Fast Automated Securities Transfer Program (the “FAST Program”) or if the certificates are
required to bear a legend regarding restriction on transferability, issue and dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company’s share register in the name of the Holder
or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise. The Holder, or any natural person or legal entity (each, a “Person”) so designated by the Holder to receive Warrant
Shares, shall be deemed to have become the holder of record of such Warrant Shares as of the Exercise Date, irrespective of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates
evidencing such Warrant Shares, as the case may be. 
 (b) If by the close of the third (3rd) Trading Day after the Exercise Date, the
Company fails to deliver to the Holder a certificate representing the required number of Warrant Shares in the manner required pursuant to Section 5(a) or fails to credit the Holder’s DTC account for such number of
Warrant Shares to which the Holder is entitled, and if after such third (3rd) Trading Day and prior to the receipt of such Warrant Shares, the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in
satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall, within three (3) Trading Days
after the Holder’s request promptly honor its obligation to deliver to the Holder a certificate or certificates representing such Warrant Shares and pay cash to the Holder in an amount equal to the excess (if any) of Holder’s total
purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased in the Buy-In less the product of (A) the number of shares of Common Stock purchased in the Buy-In, times (B) the Closing Sale Price of a share of Common Stock on the Exercise Date. 
 (c) To
the extent permitted by law and subject to Section 5(b), the Company’s obligations to issue and deliver Warrant Shares in accordance with and subject to the terms hereof (including the limitations set forth in Section 11 below) are
absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or
any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance that might otherwise limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Subject to Section 5(b), nothing herein shall limit the Holder’s right to
pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates representing
shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof. 
 6. Charges, Taxes and Expenses. Issuance and
delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense (excluding any applicable stamp duties)
in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the Company shall not be required to pay any tax that may be payable in respect of any transfer
involved in the registration of any certificates for Warrant Shares or the Warrants in a name other than that of the Holder or an Affiliate thereof. The Holder shall be responsible for all other tax liability that may arise as a result of holding or
transferring this Warrant or receiving Warrant Shares upon exercise hereof. 
 7. Replacement of Warrant. If this Warrant is mutilated, lost, stolen
or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of evidence reasonably satisfactory to
the Company of such loss, theft or destruction (in such case) and, in each case, a customary and reasonable indemnity and surety bond, if requested by the Company. Applicants for a New Warrant under such circumstances shall also comply with such
other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe. If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant
to the Company as a condition precedent to the Company’s obligation to issue the New Warrant. 
 8. Reservation of Warrant Shares. The Company
covenants that it will, at all times while this Warrant is outstanding, reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant
Shares upon exercise of this Warrant as herein 

  
 3 

 
provided, the number of Warrant Shares that are initially issuable and deliverable upon the exercise of this entire Warrant, free from preemptive rights or any other contingent purchase rights of
persons other than the Holder (taking into account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares so issuable and deliverable shall, upon issuance and the payment of the applicable Exercise Price
in accordance with the terms hereof, be duly and validly authorized, issued and fully paid and non-assessable. The Company will take all such action as may be reasonably necessary to assure that such shares of
Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common Stock may be listed. The Company further
covenants that it will not, without the prior written consent of the Holder, take any actions to increase the par value of the Common Stock at any time while this Warrant is outstanding. 

9. Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to
time as set forth in this Section 9. 
 (a) Stock Dividends and Splits. If the Company, at any time while this Warrant is
outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock issued and outstanding on the Original Issue Date and in accordance with the terms of such stock on the Original Issue
Date or as amended, as described in the Registration Statement, that is payable in shares of Common Stock, (ii) subdivides its outstanding shares of Common Stock into a larger number of shares of Common Stock, (iii) combines its
outstanding shares of Common Stock into a smaller number of shares of Common Stock or (iv) issues by reclassification of shares of capital stock any additional shares of Common Stock of the Company, then in each such case the Exercise Price
shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately
after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, provided, however,
that if such record date shall have been fixed and such dividend is not fully paid on the date fixed therefor, the Exercise Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Exercise Price shall
be adjusted pursuant to this paragraph as of the time of actual payment of such dividends. Any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or
combination. 
 (b) Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, distributes to all holders
of Common Stock for no consideration (i) evidences of its indebtedness, (ii) any security (other than a distribution of Common Stock covered by the preceding paragraph), (iii) rights or warrants to subscribe for or purchase any security,
or (iv) cash or any other asset (in each case, a “Distribution”), other than a reclassification as to which Section 9(c) applies, then in each such case, the Holder shall be entitled to participate in such Distribution to
the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without
limitation, the ownership limitation set forth in Section 11(a) hereof) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of Common Stock are to
be determined for the participation in such Distribution (provided, however, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the ownership limitation set forth in
Section 11(a) hereof, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any Common Stock as a result of such Distribution to such extent) and the portion of such
Distribution shall be held in abeyance for the benefit of the Holder until the earlier of (i) such time, if ever, as the delivery to such Holder of such portion would not result in the Holder exceeding the ownership limitation set forth in
Section 11(a) hereof and (ii) such time as the Holder has exercised this Warrant. 
 (c) Fundamental Transactions. If, at
any time while this Warrant is outstanding (i) the Company effects any merger or consolidation of the Company with or into another Person, in which the Company is not the surviving entity and in which the stockholders of the Company immediately
prior to such merger or consolidation do not own, directly or indirectly, at least 50% of the voting power of the surviving entity immediately after such merger or consolidation, (ii) the Company effects any sale to another Person of all or
substantially all of its assets in one transaction or a series of related transactions, (iii) pursuant to any tender offer or exchange offer (whether by the Company or another Person), holders of capital stock tender shares representing more
than 50% of the voting power of the capital stock of the Company and the Company or such other Person, as applicable, accepts such tender for payment, (iv) the Company consummates a stock purchase agreement or other business combination
(including, 

  
 4 

 
without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than
the 50% of the voting power of the capital stock of the Company (except for any such transaction in which the stockholders of the Company immediately prior to such transaction maintain, in substantially the same proportions, the voting power of such
Person immediately after the transaction) or (v) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities,
cash or property (other than as a result of a subdivision or combination of shares of Common Stock covered by Section 9(a) above) (in any such case, a “Fundamental Transaction”), then following such Fundamental Transaction the
Holder shall have the right to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately
prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without regard to any limitations on exercise contained herein (the “Alternate Consideration”).
The Company shall not effect any Fundamental Transaction in which the Company is not the surviving entity or the Alternate Consideration includes securities of another Person unless (i) the Alternate Consideration is solely cash and the Company
provides for the simultaneous “cashless exercise” of this Warrant pursuant to Section 10 below or (ii) prior to or simultaneously with the consummation thereof, any successor to the Company, surviving entity or other Person
(including any purchaser of assets of the Company) shall assume the obligation to deliver to the Holder such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be entitled to receive, and the other obligations
under this Warrant. The provisions of this paragraph (c) shall similarly apply to subsequent transactions analogous of a Fundamental Transaction type. Notwithstanding the foregoing, in the event of a Fundamental Transaction where the
consideration payable to holders of Common Stock consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities, then this Warrant shall automatically be deemed to be exercised in full in a “cashless
exercise” pursuant to Section 10 below effective immediately prior to and contingent upon the consummation of such Fundamental Transaction. 

(d) Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to Section 9 (including any
adjustment to the Exercise Price that would have been effected but for the final sentence in this paragraph (d)), the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so
that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment. Notwithstanding the
foregoing, in no event may the Exercise Price be adjusted below the par value of the Common Stock then in effect. 
 (e)
Calculations. All calculations under this Section 9 shall be made to the nearest one-hundredth of one cent or the nearest share, as applicable. 

(f) Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will, at
the written request of the Holder, promptly compute such adjustment, in good faith, in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and
adjusted number or type of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such adjustment is based.
Upon written request, the Company will promptly deliver a copy of each such certificate to the Holder and to the Company’s transfer agent. 

(g) Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other
distribution of cash, securities or other property in respect of its Common Stock, including, without limitation, any granting of rights or warrants to subscribe for or purchase any capital stock of the Company or any subsidiary,
(ii) authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company,
then, except if such notice and the contents thereof shall be deemed to constitute material non-public information, the Company shall deliver to the Holder a notice of such transaction at least ten
(10) days prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with respect to such transaction; provided, however, that the failure to deliver such notice or any
defect therein shall not affect the validity of the corporate action required to be described in such notice. In addition, if while this Warrant is outstanding, the Company authorizes or approves, enters into any agreement contemplating or solicits
stockholder approval for any Fundamental Transaction contemplated by Section 9(c), other than a Fundamental Transaction under clause (iii) of Section 9(c), then, except if such notice and the contents thereof shall be deemed to
constitute material non-public information, the Company shall deliver to the Holder a notice of such Fundamental Transaction at least ten (10) days prior to the date such Fundamental Transaction is
consummated. 

  
 5 

 10. Payment of Cashless Exercise Price. Notwithstanding anything contained herein to the
contrary, this Warrant may only be exercised through a “cashless exercise.” Upon exercise, the Company shall issue to the Holder the number of Warrant Shares in an exchange of securities effected pursuant to Section 3(a)(9) of the
Securities Act as determined as follows: 
 X = Y [(A-B)/A] 

where: 
 “X” equals the
number of Warrant Shares to be issued to the Holder; 
 “Y” equals the total number of Warrant Shares with respect to which this
Warrant is then being exercised; 
 “A” equals the Closing Sale Price per share of Common Stock as of the Trading Day on the date
immediately preceding the Exercise Date; and 
 “B” equals the Exercise Price per Warrant Share then in effect on the Exercise
Date. 
 For purposes of Rule 144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in such a
“cashless exercise” transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued (provided that the
Commission continues to take the position that such treatment is proper at the time of such exercise). 
 In no event will the exercise of this Warrant be
settled in cash. 
 11. Limitations on Exercise. 

(a) Notwithstanding anything to the contrary contained herein, the Company shall not effect any exercise of this Warrant, and the Holder shall
not be entitled to exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which, upon giving effect or immediately prior to such exercise, would cause (i) the aggregate number of shares of Common Stock
beneficially owned by the Holder, its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act to exceed 9.99% (the “Maximum
Percentage”) of the total number of issued and outstanding shares of Common Stock of the Company following such exercise, or (ii) the combined voting power of the securities of the Company beneficially owned by the Holder and its
Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act to exceed 9.99% of the combined voting power of all of the securities of
the Company then outstanding following such exercise. For purposes of this Warrant, in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the
Company’s most recent Form 10-Q or Form 10-K, as the case may be, filed with the Commission prior to the date hereof, (y) a more recent public announcement by
the Company or (z) any other notice by the Company or its transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written request of the Holder, the Company shall within three (3) Trading Days confirm in
writing or by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of
the Company, including this Warrant, by the Holder since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the Holder may from time to time increase or decrease the Maximum
Percentage to any other percentage specified not in excess of 19.99% specified in such notice; provided that any such increase will not be effective until the sixty-first (61st) day after such notice is delivered to the Company. For purposes of this
Section 11(a), the aggregate number of shares of Common Stock or voting securities beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s
for purposes of Section 13(d) of the Exchange Act shall include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock
which would be issuable upon (x) exercise of the remaining unexercised and non-cancelled portion of this Warrant by the Holder and (y) exercise or conversion of the

  
 6 

 
unexercised, non-converted or non-cancelled portion of any other securities of the Company that do not have voting
power (including without limitation any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including without limitation any debt, preferred stock, right, option, warrant or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock), is subject to a limitation on conversion or exercise analogous to the limitation contained herein and is
beneficially owned by the Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act. 

(b) This Section 11 shall not restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to
determine the amount of securities or other consideration that such Holder may receive in the event of a Fundamental Transaction as contemplated in Section 9(c) of this Warrant. 

12. No Fractional Shares. No fractional Warrant Shares will be issued in connection with any exercise of this Warrant. In lieu of any fractional shares
that would otherwise be issuable, the number of Warrant Shares to be issued shall be rounded down to the next whole number and the Company shall pay the Holder in cash the fair market value (based on the Closing Sale Price) for any such fractional
shares. 
 13. Notices. Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice)
shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via confirmed e-mail prior to 5:30 P.M., New York
City time, on a Trading Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via confirmed e-mail on a day that is not a Trading Day or later than
5:30 P.M., New York City time, on any Trading Day, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service specifying next business day delivery, or (iv) upon actual receipt by the
Person to whom such notice is required to be given, if by hand delivery. The addresses and e-mail addresses for such communications shall be: 

If to the Company: 

Atara Biotherapeutics, Inc. 

Attention: SVP, Corporate Strategy and General Counsel 

611 Gateway Blvd., Suite 900 

South San Francisco, CA 94080 

Telephone: [•] 

Email: [•] 

If to the Holder, to its address or e-mail address set forth herein or on the books
and records of the Company. 
 Or, in each of the above instances, to such other address or e-mail address as the
recipient party has specified by written notice given to each other party at least five (5) days prior to the effectiveness of such change. 
 14.
Warrant Agent. The Company shall initially serve as warrant agent under this Warrant. Upon ten (10) days’ notice to the Holder, the Company may appoint a new warrant agent. Any corporation into which the Company or any new warrant
agent may be merged or any corporation resulting from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent transfers substantially all of its corporate
trust or shareholders services business shall be a successor warrant agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to be mailed (by first class mail,
postage prepaid) to the Holder at the Holder’s last address as shown on the Warrant Register. 
 15. Miscellaneous. 

(a) No Rights as a Stockholder. The Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled to
vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this
Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of 

  
 7 

 
stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of
the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon
exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. 

(b) Authorized Shares. Except and to the extent as waived or consented to by the Holder, the Company shall not by any action,
including, without limitation, amending its certificate or articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to
avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights
of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately
prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon
the exercise of this Warrant, and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to
perform its obligations under this Warrant. 
 (c) Successors and Assigns. Subject to compliance with applicable securities laws,
this Warrant may be assigned by the Holder. This Warrant may not be assigned by the Company without the written consent of the Holder, except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the
benefit of the Company and the Holder and their respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder any legal or equitable
right, remedy or cause of action under this Warrant. This Warrant may be amended only in writing signed by the Company and the Holder, or their successors and assigns. 

(d) Amendment and Waiver. Except as otherwise provided herein, this Warrant may be modified or amended or the provisions hereof waived
with the written consent of the Company and the Holder. 
 (e) Acceptance. Receipt of this Warrant by the Holder shall constitute
acceptance of and agreement to all of the terms and conditions contained herein. 
 (f) Governing Law; Jurisdiction. ALL QUESTIONS
CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.
EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
HEREWITH OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY
CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY
MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PERSON AT THE ADDRESS IN EFFECT FOR NOTICES TO IT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS
AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. EACH OF THE COMPANY AND THE HOLDER HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY. 

(g) Headings. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit
or affect any of the provisions hereof. 

  
 8 

 (h) Severability. In case any one or more of the provisions of this Warrant shall be
invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby, and the Company and the Holder will attempt in good faith to agree
upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 9 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its
authorized officer as of the date first indicated above. 
  

					
	ATARA BIOTHERAPEUTICS, INC.
		
	By: 	 	 
		 	Name:	 	Mina Kim
		 	Title:	 	SVP, Corporate Strategy and General Counsel

 SCHEDULE 1 

FORM OF EXERCISE NOTICE 
 [To
be executed by the Holder to purchase shares of Common Stock under the Warrant] 
 Ladies and Gentlemen: 

(1) The undersigned is the Holder of Warrant No. ___ (the “Warrant”) issued by Atara Biotherapeutics, Inc., a Delaware corporation (the
“Company”). Capitalized terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant. 
 (2) The
undersigned hereby exercises its right to purchase ___________ Warrant Shares pursuant to the Warrant. 
 (3) The Holder intends that payment of the
Exercise Price shall be made as a “Cashless Exercise” under Section 10 of the Warrant 
 (4) Pursuant to this Exercise Notice, the Company
shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant. The Warrant Shares shall be delivered to the following DWAC Account Number: 
  

 
 (5) By its delivery of this Exercise
Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under Section 11(a) of the Warrant to which this notice relates. 
  

			
	Dated:	 	 
		
	Name of Holder:	 	 
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

 (Signature must conform in all respects to name of Holder as specified on the face of the Warrant)

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