Document:

Exhibit 10.2

 

Execution Version

 

Certain portions of this Exhibit have been redacted pursuant
to Item 601(b)(10) of Regulation S-K and, where applicable, have been marked with “[***]” to indicate where redactions
have been made. The marked information has been redacted because it is both (i) not material and (ii) would likely cause competitive
harm to the Company if publicly disclosed.

 

FIRST AMENDMENT TO MEMBERSHIP INTEREST PURCHASE
AGREEMENT

 

This First Amendment to Membership
Interest Purchase Agreement (this “Amendment”) is entered into as of December 29, 2021 (the “Amendment
Effective Date”), by and among Lighthouse Renewable Class A LLC, a Delaware limited liability company (“Purchaser”)
and Clearway Renew LLC, a Delaware limited liability company (“Seller”). Purchaser and Seller are each referred to
herein individually as a “Party” and, jointly, the “Parties”.

 

PRELIMINARY STATEMENTS

 

A.           Purchaser
and Seller are parties to that certain Membership Interest Purchase Agreement (the “MIPA”), dated as of December 21,
2020 with respect to Black Rock Wind Holding LLC.

 

B.            Purchaser
and Seller desire to amend the MIPA as set forth herein.

 

NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Section 1.              DEFINITIONS.

 

Unless otherwise defined in
this Amendment, each capitalized term used herein has the meaning assigned to such term in the MIPA.

 

Section 2.              AMENDMENTS
TO MIPA.

 

The Agreement is hereby amended
to reflect each of the changes on the redline of the Agreement attached hereto as Exhibit A.

 

Section 3.              UPDATES
TO DISCLOSURE SCHEDULES.

 

3.1           The
Parties agree that the ten (10) Business Day period in Section 5.03 of the MIPA shall not be applicable to the modifications,
supplements and amendments to the Disclosure Schedules attached hereto as Exhibit B (the “Schedule Updates”) and, notwithstanding
Section 5.03 of the MIPA, from and after the date hereof, the Disclosure Schedules to the MIPA shall accordingly be deemed modified,
supplemented and amended by the Schedule Updates in accordance with, and subject to, the other provisions of Section 5.03 of the
MIPA.

 

Section 4.              REPRESENTATIONS.

 

4.1           In
order to induce the other Party to execute and deliver this Amendment, each Party hereby represents and warrants to the other Party that
this Amendment is duly authorized, executed and delivered by it and assuming due authorization, execution and delivery by the other Party,
constitutes the legally valid and binding obligation of it, enforceable against it in accordance with its terms, except as limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting enforcement of creditors rights generally and
equitable principles (whether considered in a proceeding at equity or at law).

 

     

     

    

 

Section 5.              MISCELLANEOUS.

 

.1             Effect
of Amendment. Except as specifically amended hereby, the MIPA shall continue in full force and effect in accordance with its original
terms. Reference to this specific Amendment need not be made in the MIPA or any other instrument or document executed in connection therewith,
or in any certificate, letter or communication issued or made pursuant to or with respect to the MIPA, any reference in any of such items
to the MIPA being sufficient to refer to and mean the MIPA as amended hereby.

 

5.2           PDF
Signature; Counterparts. This Amendment may be executed by PDF signature in any number of counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument.

 

5.3           Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. Sections 8.12, 8.13 and 8.14 of the MIPA are hereby incorporated herein by reference
and apply mutatis mutandis to this Amendment.

 

5.4           Effectiveness.
This Amendment shall be effective as of the Amendment Effective Date.

 

5.5           Severability.
If any provision of this Amendment is held to be illegal, invalid or unenforceable under any present or future Law, and if the rights
or obligations of any Party under this Amendment shall not be materially and adversely affected thereby, (a) such provision shall
be fully severable, (b) this Amendment shall be construed and enforced as if such illegal, invalid or unenforceable provision had
never comprised a part hereof and (c) the remaining provisions of this Amendment shall remain in full force and effect and shall
not be affected by the illegal, invalid or unenforceable provision or by its severance here from.

 

[SIGNATURE PAGE TO FOLLOW]

 

    	 	2	 

     

    

 

This First Amendment to Membership
Interest Purchase Agreement is entered into as of the date and year first above written.

 

	 	CLEARWAY
    RENEW LLC
	 	 
	 	By:	/s/ Craig Cornelius
	 	 	Name:
    Craig Cornelius
	 	 	Title:
    President

 

[Signature Page to First Amendment to
Membership Interest Purchase Agreement]

 

    	 	 	 

     

    

 

	 	LIGHTHOUSE RENEWABLE CLASS A LLC
	 	 
	 	By:	/s/ Christopher S. Sotos
	 	 	Name: Christopher S. Sotos
	 	 	Title: President

 

[Signature Page to First Amendment to
Membership Interest Purchase Agreement]

 

    	 	 	 

     

    

 

EXHIBIT A

 

Redline Changes to MIPA

 

[See attached.]

 

    	 	 	 

     

    

 

CONFIDENTIALExecution
Version

Akin
Gump Draft 12/21/20

 

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

with respect to

 

Black Rock Wind Holding LLC

 

by and between

 

Clearway Renew LLC, as Seller

 

and

 

Lighthouse Renewable Class A LLC, as Purchaser

 

dated as of December 21, 2020

 

 

    	 	 	 

     

    

 

TABLE OF CONTENTS

 

Page

 

	ARTICLE 1 DEFINITIONS AND PRINCIPLES OF INTERPRETATION	12
	 	1.01.	Definitions	12
	 	1.02.	Rules of Interpretation	1314
	ARTICLE 2 SALE OF MEMBERSHIP INTERESTS AND CLOSING	1314
	 	2.01.	Purchase and Sale	1314
	 	2.02.	Payment of Purchase Price	14
	 	2.03.	Closing	1415
	 	2.04.	Adjusted Purchase Price Amount[Reserved]	15
	 	2.05.	Post-Closing Additional Turbine Adjustments	16
	 	2.06.	Certain Proceeds	1516
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES	1517
	 	3.01.	Representations and Warranties with respect to Seller, the Company and the Black Rock Entities	1517
	 	3.02.	Representations and Warranties with Respect to Purchaser	27
	ARTICLE 4 CONDITIONS PRECEDENT	2729
	 	4.01.	Closing Date Conditions Precedent	2729
	 	4.02.	Second Closing Date Conditions Precedent	30
	ARTICLE 5 CERTAIN COVENANTS	2831
	 	5.01.	Regulatory and Other Permits	2831
	 	5.02.	Access to Information	32
	 	5.03.	Notification of Certain Matters	32
	 	5.04.	Conduct of Business	2933
	 	5.05.	Fulfillment of Conditions	35
	 	5.06.	Further Assurances	35
	 	5.07.	Purchaser’s Substitute Support Obligations	3235
	 	5.08.	Tax Matters	3336
	 	5.09.	No Solicitation	3437
	 	5.10.	[***]	3437
	 	5.11.	Purchaser Parent Guaranty	38
	 	5.12.	Post-Execution Date Documents	38
	ARTICLE 6 INDEMNIFICATION	3538
	 	6.01.	Indemnification by Seller	3538
	 	6.02.	Indemnification by Purchaser	3538
	 	6.03.	Survival of Representations, Warranties, Covenants and Agreements	39

 

    	 	 i	 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

	 	6.04.	Limitations on Claims	3639
	 	6.05.	Procedure for Indemnification of Third Party Claims	39
	 	6.06.	Rights of the Indemnifying Party in the Defense of Third Party Claims	3740
	 	6.07.	Direct Claims	40
	 	6.08.	Exclusive Remedy	3841
	 	6.09.	Mitigations	3841
	 	6.10.	Indemnity Treatment	     3842
	ARTICLE 7 TERMINATION	42
	 	7.01.	Termination	42
	 	7.02.	Effect of Termination	3943
	ARTICLE 8 GENERAL PROVISIONS	4043
	 	8.01.	Notices	4043
	 	8.02.	Entire Agreement	4044
	 	8.03.	Specific Performance	4044
	 	8.04.	Time of the Essence	4144
	 	8.05.	Expenses	4144
	 	8.06.	Confidentiality; Disclosures	4145
	 	8.07.	Waiver	4145
	 	8.08.	Amendment	4145
	 	8.09.	No Third Party Beneficiary	4145
	 	8.10.	Assignment	4145
	 	8.11.	Severability	4245
	 	8.12.	Governing Law	4245
	 	8.13.	Consent to Jurisdiction	4246
	 	8.14.	Waiver of Jury Trial	4246
	 	8.15.	Limitation on Certain Damages	4246
	 	8.16.	Disclosures	4347
	 	8.17.	PDF Signature; Counterparts	4347

 

    	 	 ii	 

     

    

 

TABLE OF CONTENTS

(continued)

 

Exhibits:

 

	Exhibit A	Base Case Model
	Exhibit B	Officer’s Certificate of Seller
	Exhibit C	Secretary’s Certificate of Seller
	Exhibit D	Officer’s Certificate of Purchaser
	Exhibit E	Secretary’s Certificate of Purchaser
	Exhibit F	Assignment of Membership Interests
	Exhibit G	Form of Purchaser Parent Guaranty
	Exhibit H	Form of Build-Out Agreement
	Exhibit I	Form of Drop Down Assignment and Assumption Agreement
	Exhibit J	Certain Seller Proceeds Agreement[Intentionally Omitted]
	Exhibit K	Second Closing Date Officer’s Certificate of Seller
	Exhibit L	Second Closing Date Officer’s Certificate of
	 	 
	Purchaser	 
	Schedules:
	 	 
	Schedule 1.02	Land Options
	Schedule 1.03	Ancillary Documents
	Schedule 4.01(m)	Agreement to be Amended
	Schedule 5.04(b)	Conduct of Business
	Schedule 6.01(b)	Certain Indemnification Matters
	 	 
	Disclosure Schedules:
	 	 
	Schedule 1.01	Permitted Liens
	Schedule 3.01(c)	Seller Consents
	Schedule 3.01(e)	Seller Approvals
	Schedule 3.01(f)	Legal Proceedings
	Schedule 3.01(g)	Brokers
	Schedule 3.01(i)	Permitted Business Jurisdictions
	Schedule 3.01(i)(ii)	Permitted Equity Encumbrances
	Schedule 3.01(i)(iii)	Directors and Officers
	Schedule 3.01(i)(v) 	Permitted Options
	Schedule 3.01(i)(vi)	Permitted Additional Investments
	Schedule 3.01(i)(vii)	Permitted Additional Business Operations
	Schedule 3.01(i)(ix)	Liens on Acquired Interests
	Schedule 3.01(j)	Liabilities
	Schedule 3.01(k)	Taxes
	Schedule 3.01(m)(i)	Company Contracts
	Schedule 3.01(m)(iii)	Company Contracts Defaults
	Schedule 3.01(n)(i)	Land
	Schedule 3.01(n)(ii)	Permitted Real Property Agreements
	Schedule 3.01(n)(iii)	Real Property Rights
	Schedule 3.01(p)(i)	Environmental Law Non-Compliance
	Schedule 3.01(p)(iii)	Environmental Permits
	Schedule 3.01(p)(iv)	Release of Hazardous Substances

 

    	 	 iii	 

     

    

 

TABLE OF CONTENTS

(continued)

 

	Schedule 3.01(q)(i)	Permits
	Schedule 3.01(q)(ii)	Regulatory Noncompliance
	Schedule 3.01(r)	Affiliate Transactions
	Schedule 3.01(s)(i)	Intellectual Property
	Schedule 3.01(t)	Insurance
	Schedule 3.01(v)	Absence of changes
	Schedule 3.01(w)	Bank Accounts
	Schedule 3.01(y)	Support Obligations
	Schedule 3.02(c)	Purchaser Consents
	Schedule 3.02(e)	Permits
	Schedule 3.02(h)	Brokers
	Schedule 3.02(i)	Purchaser Approvals
	Schedule 5.04(b)	Conduct of Business

 

    	 	 iv	 

     

    

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

THIS MEMBERSHIP INTEREST PURCHASE
AGREEMENT (this “Agreement”), dated as of December 21, 2020 (the “Execution Date”), is entered
into by and between Clearway Renew LLC, a Delaware limited liability company (“Seller”), and Lighthouse Renewable Class A
LLC, a Delaware limited liability company (“Purchaser”). Purchaser and Seller are referred to, collectively, as the
 “Parties” and each, individually, as a “Party.” Capitalized terms not otherwise defined herein shall
have the meaning given them in Section 1.01 of this Agreement.

 

RECITALS:

 

1.             Seller
owns one hundred percent (100%) of the Class B membership interests (the “Class B Units”) of Black Rock Wind
Holding LLC, a Delaware limited liability company (the “Company”), and Apex Clean Energy Holdings, LLC (the “Class A
Member”) owns one hundred percent (100%) of the Class A membership interests of the Company.

 

2.             The
Company is the sole member and one hundred percent (100%) owner of Black Rock Class B Holdco LLC, a Delaware limited liability company
(“Class B Holdco”), and Class B Holdco is the sole member and one hundred percent (100%) owner of Black Rock
TE Holdco LLC, a Delaware limited liability company (“TE Holdco”).

 

3.             TE
Holdco is the sole member and one hundred percent (100%) owner of Black Rock Wind Force, LLC, a Delaware limited liability company (“Project
Company” and, together with Class B Holdco and TE Holdco, the “Black Rock Entities” and each a “Black
Rock Entity”).

 

4.             The
Project Company is developing an approximately 110 MW wind power project and associated infrastructure located in Mineral County and Grant
County, West Virginia (the “Project”) and sells electric power therefrom.

 

5.             On
the Closing Date, subject to the satisfaction or waiver of the applicable conditions precedent set forth herein, fifty and one one-hundredth
percent (50.01%) of the Class B Units (the “Acquired Interests”) will be sold to Purchaser for the Base
Purchase Price (as modified to the Adjusted Base Purchase Price) as
provided herein.

 

6.             Purchaser
and HASI have agreed that, as sole shareholders of Lighthouse Renewable HoldCo LLC (the
 “Master JV HoldCo”), they shall, immediately upon the Closing, contribute their respective Class B Units to the
Master JV HoldCo and cause Master JV HoldCo to be admitted as the Class B Member of the Company (the “Drop Down”).

 

7.             At
least ninety-one (91) days after the Tax Equity Funding Date Seller will purchase from,  the Class A Member, one hundred
percent (100%) of the Class A membership interests of the Company (the “Class A Units”) pursuant to the Apex
Purchase Agreement (the “Class A Transfer”).

 

8.             Immediately
following the Class A Transfer and subject to the satisfaction or waiver of the applicable conditions precedent set forth herein,
fifty and one one-hundredth percent (50.01%) of the Class A Units (the “Class A Interests”) will be sold
to Purchaser for the Class A Purchase Price as provided herein.

 

9.             Purchaser
and HASI have agreed that they shall, immediately upon the Second Closing, contribute their respective Class A Units to the
Master JV HoldCo and cause Master JV HoldCo to be the sole member of the Company.

 

    	 	 	 

     

    

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the mutual
agreements, covenants, representations and warranties set forth herein, and intending to be legally bound hereby, the Parties agree as
follows:

 

ARTICLE 1

DEFINITIONS AND PRINCIPLES OF INTERPRETATION

 

1.01.       Definitions.
As used in this Agreement, the following defined terms have the meanings indicated below:

 

“Acquired Interests” has the meaning set
forth in the recitals to this Agreement.

 

“Acquisition Proposal” has the meaning set forth in Section 5.09.

 

“Action or Proceeding” means any
action, suit, proceeding, arbitration or investigation by or before any Governmental Authority.

 

“Additional Turbine” has the meaning set
forth in the Tax Equity Agreement.

 

“Additional
Turbine Amount” means, with respect to each Additional Turbine, an amount of money that is equal to the
Additional Turbine Holdback Amount divided by the number of Additional Turbines.

 

“Additional Turbine Deadline”
means the earlier of (a) the date on which the final Additional Turbine is Placed in Service and (b) the Outside
Date.

 

“Additional
Turbine Holdback Amount” means an amount of money that is equal to (a) the Base Purchase Price (as
adjusted pursuant to Section 2.04) multiplied by (b) the fraction that is the result
of (i) the total number of Additional Turbines as
of the Closing Date, divided by (ii) 23.

 

“Adjusted Purchase
Price Amount” has the meaning set forth in Section 2.04(c).

 

“Adjusted Purchase Price
Model” means the Base Case Model, with the following updated by Seller prior to the Closing Date, in each case on the basis
of the Pricing Adjustments:

 

(a)
Tab D - TE, Input Reference J75;

 

 (b) Tab Inputs, Input Reference C24:C25;

 

 (c) Tab Scenario, Input Reference I8;

 

 (d) Tab TE Depr, Input Reference G106-AT106

 

 (e) Tab Inputs, Input Reference C185, C188, C199, and C202;

 

 (f) Tab Inputs, Input Reference P45:WQ45, P47:AZ47, C11 and C43:C54;

 

 (g) Tab Inputs, Input Reference G143:G181 and H143:H181;

 

 (h) Tab Inputs, Input Reference E456:E491;

 

    2

     

    

 

 (i) Tab Inputs, Input Reference G456:G491 and P508:AX508; and

 

 (j) Tab Inputs, Input Reference C389:C390.

 

provided,
that such calculations shall assume that any expected Additional Turbines will be Placed in Service on the Outside Date.

 

“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 the Person specified. For the purposes of this Agreement, Clearway Energy Group LLC and its direct or
indirect subsidiaries, including Seller, the Company and the Black Rock Entities shall not be considered “Affiliates” of Clearway
Energy, Inc. and its direct or indirect subsidiaries, including Purchaser.

 

“Ancillary Document”
means (a) each of the documents set forth on Schedule 1.03 and (b) any Financing Document,
in each case, other than the Financing Agreement and the Tax Equity Agreement.

 

“Apex
Purchase Agreement” means the membership interest purchase agreement pursuant to which Seller will acquire 100% of the
Class A Units in the Company.

 

“Apportioned Obligations” has the meaning
set forth in Section 5.08(b).

 

“Assignment of Membership
Interests” means the Assignment and Assumption Agreement, in substantially the form of Exhibit F attached hereto.

 

“Balance Sheet” has
the meaning set forth in Section 3.01(u).

 

“Balance Sheet Date” has the meaning set forth in Section 3.01(u).

 

“Base Case Model”
means the financial projections with respect to the Project in file “Black Rock
Financial Model – CE Vehicle – External CWEN 12142020Funding_v10.xlsb”,
and attached as Exhibit A.

 

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

 

“Black Rock Entity” or “Black
Rock Entities” has the meaning set forth in the recitals to this Agreement.

 

“Build-Out Agreement”
means that certain Build-Out Agreement, to be dated as of the Closing Date, by and among the Project Company, TE HoldCo, Clearway Energy
Operating LLC, and each subsequent party that may become a party thereto substantially in the form and to the effect of Exhibit H.

 

“Business Day”
means a day other than Saturday, Sunday or any day on which banks located in the State of New York or the State of New Jersey are authorized
or obligated to close.

 

“Cap” has the meaning set forth in Section 6.04(b).

 

“Certain
Seller Proceeds Agreement” means that certain Seller Proceeds Agreement, to be entered into by and between Seller and the Master
JV HoldCo, substantially in the form of Exhibit J attached hereto.

 

“Class A
Interests” has the meaning set forth in
the recitals to this Agreement.

 

    3

     

    

 

“Class A
Member” has the meaning set forth in the recitals to this Agreement.

 

“Class A
Purchase Price” means $1,065,332.89.

 

“Class A
Transfer” has the meaning set forth in the recitals to this Agreement.

 

“Class A MemberUnits”
has the meaning set forth in the recitals to this Agreement.

 

“Class B Holdco” has the meaning set
forth in the recitals to this Agreement.

 

“Class B Units” has the meaning set forth in the recitals to this Agreement.

 

“Closing” has the meaning set forth in Section 2.03(a).

 

“Closing Date” has the meaning set forth
in Section 2.03(a).

 

“Closing Date Schedule Supplement” has the
meaning set forth in Section 5.03.

 

“Code” means
the Internal Revenue Code of 1986 and the rules and regulations promulgated thereunder.

 

“Company” has the meaning set forth in the
recitals to this Agreement.

 

“Company Contracts”
means all material Contracts and amendments, modifications and supplements thereto, to which the Company or the Black Rock Entities is
a party or by which the Company, the Black Rock Entities or any of their assets or properties are bound.

 

“Consequential Damages” has the meaning
set forth in Section 8.15.

 

“Constitutive Documents”
means the certificate of formation and the limited liability company agreement or partnership agreement of a Person.

 

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

 

“Control”
of a Person means the power, directly or indirectly, to direct or cause the direction of the management or policies of such Person (whether
through ownership of securities or partnership or other ownership interests, by contract or otherwise).

 

“Deductible” has the meaning set forth in
Section 6.04(a).

 

“Disclosure Schedules”
means the schedules to Seller’s and Purchaser’s representations and warranties of even date herewith delivered in connection
with the execution and delivery of this Agreement.

 

“Drop Down” has the meaning set forth in
the recitals to this Agreement.

 

“Drop Down Assignment &
Assumption Agreement” means the assignment of the Acquired Interests or
the Class A Interests, as applicable, to be executed by Purchaser and the Master JV HoldCo immediately upon the Closing
or the Second Closing, as applicable, in the form attached hereto
as Exhibit I.

 

    4

     

    

 

 

“Employee Plan”
means any “employee benefit plan,” as such term is defined in Section 3(3) of ERISA, that is (or when in effect
was) subject to any provision of ERISA, including Title IV of ERISA, and is or was sponsored, maintained or contributed to by Seller,
the Company or the Black Rock Entities or any ERISA Affiliate.

 

“Environmental Attributes”
means all environmental air quality credits, green credits, carbon credits, emissions reduction credits, certificates, tags, offsets,
allowances, or similar products or rights, howsoever entitled, (a) resulting from the avoidance of the emission of any gas, chemical
or other substance, including mercury, nitrogen oxide, sulfur dioxide, carbon dioxide, carbon monoxide, particulate matter or similar
pollutants or contaminants of air, water, or soil, gas, chemical, or other substance, and (b) attributable to the generation, purchase,
sale or use of renewable energy generated or use of renewable generation technologies by the Project, or otherwise attributable to the
Project, including any renewable energy credits (“RECs”).

 

“Environmental Laws”
means all applicable Laws relating to the environment, or the handling, storage, transportation, emissions, discharges, Releases or threatened
emissions, discharges or Releases of Hazardous Substances into the environment, including ambient air, surface water, ground water or
land, or otherwise relating to the manufacture, processing, distribution, use, treatment or disposal of any Hazardous Substances, including
the Clean Air Act, the Federal Water Pollution Control Act (including the Clean Water Act and the Oil Pollution Act), the Safe Drinking
Water Act, the Federal Solid Waste Disposal Act (including the Resource Conservation and Recovery Act of 1976), the Comprehensive Environmental
Response, Compensation, and Liability Act, the Toxic Substances Control Act, the Federal Insecticide, Fungicide and Rodenticide Act, the
Emergency Planning and Community Right-to-Know Act, the Occupational Safety and Health Act (to the extent relating to human exposure to
Hazardous Substances), and any other federal, state or local Laws now or hereafter existing relating to any of the foregoing.

 

“ERISA” means the Employee Retirement Income
Security Act of 1974.

 

“ERISA Affiliate”
means any entity, trade or business that is a member of a group described in Section 414(b), (c), (m) or (o) of the Code
or Section 4001(b)(1) of ERISA that includes Seller, the Company or the Black Rock Entities or that is a member of the same
 “controlled group” as Seller pursuant to Section 4001(a)(14) of ERISA; provided, however, that the Company
and the Black Rock Entities shall not be considered to be ERISA Affiliates from and after the Closing Date.

 

“Execution Date” has the meaning set forth
in the preamble to this Agreement.

 

“Exempt Wholesale Generator” or “EWG”
has the meaning given to such term in PUHCA.

 

“FERC” means the Federal Energy Regulatory Commission.

 

“Final Completion” has the meaning set forth
in the Tax Equity Agreement.

 

“Final Completion Date” means the date on which Final Completion occurs.

 

“Financing Agreement”
means that certain Financing Agreement to be entered into by and among Class B Holdco, as borrower, [***], and the other lenders
party thereto, in the form delivered by Seller to Purchaser prior to the Execution Date or as modified from such form pursuant to the
terms and subject to the conditions of Section 5.12(a).

 

    5

     

    

 

“Financing Documents” means, collectively,
(a) the Financing Documents (as defined in the Financing Agreement) and (b) the Tax Equity Agreement.

 

“FPA” means the
Federal Power Act and all rules and regulations adopted thereunder.

 

“Fraudulent Action” means, with respect
to the applicable Party, any fraud, intentional breach, intentional misrepresentation (excluding negligent misrepresentation) or
intentional omission by such Party or any Representative of such Party in connection with this Agreement.

 

“GAAP” means generally accepted
accounting principles in the United States, consistently applied throughout the relevant periods.

 

“Governmental Approval”
means any consent or approval required by any Governmental Authority.

 

“Governmental
Authority” means any federal, state, local or municipal governmental body, any governmental, quasi-governmental,
regulatory or administrative agency, commission, body or other authority exercising or entitled to exercise any administrative,
executive, judicial, legislative, policy, regulatory or taxing authority or power, including NERC, FERC, PJM, and each Regional
Entity, or any court or governmental tribunal.

 

“HASI” means HA Lighthouse LLC, a Delaware limited liability
company.

 

“HASI Purchase Agreement”
means the membership interest purchase and sale agreement pursuant to which HASI will acquire the remaining (a) 49.99%
of the Class B Units from the Seller simultaneously with the Closing,
and (b) 49.99% of the Class A Units from Seller simultaneously with the Second Closing.

 

“Hazardous Substances”
means any substance, element, compound or mixture, whether solid, liquid or gaseous: (a) which is defined as “hazardous
waste” or “hazardous substance” or “pollutant” or “contaminant” under any Environmental Law;
(b) which is otherwise hazardous and is subject to regulation by any Governmental Authority; (c) petroleum hydrocarbons
(other than naturally occurring petroleum hydrocarbons); (d) polychlorinated biphenyls (PCBs); (e) asbestos-containing
materials (other than naturally occurring asbestos); or (f) radioactive materials (other than naturally occurring radioactive
materials).

 

“Indebtedness”
means all obligations of a Person (a) for borrowed money, (b) evidenced by notes, bonds, debentures or similar
instruments, (c) for the deferred purchase price of goods or services (other than trade payables or accruals incurred in the
ordinary course of business and not past due), (d) under capital leases, (e) secured by a Lien on the assets of
such Person, whether or not such obligation has been assumed by such Person, (f) with respect to reimbursement obligations
for letters of credit and other similar instruments (whether or not drawn), (g) in the nature of guaranties of the obligations
described in clauses (a) through (f) above of any other Person or as to which such Person has an obligation substantially the
economic equivalent of a guaranty, (h) for unpaid interest, prepayment penalties, premiums, costs and fees that would arise
or become due as a result of the prepayment of any of the obligations referred to in the foregoing clauses (a) through (g), or (i) in
respect of any other amount properly characterized as indebtedness in accordance with GAAP.

 

“Indemnified Party” means any Person claiming
indemnification under any provision of Article 6.

 

    6

     

    

 

“Indemnifying Party”
means any Person against whom a claim for indemnification is being asserted under any provision of Article 6.

 

“Interconnection Agreement”
has the meaning set forth on Schedule 3.01(m)(i) of the Disclosure Schedules.

 

“Interim Period” has the meaning set forth
in Section 5.02.

 

“Knowledge”
means the actual knowledge of [***], after reasonable inquiry of their direct reports.

 

“Land” has the meaning set forth in Section 3.01(n)(i).

 

“Land Option Schedule Supplement” has the
meaning set forth in Section 5.03.

 

“Land Options”
means the put options exercisable by each of the counterparties to the Contracts set forth on Schedule 1.02.

 

“Law” means
all laws, statutes, treaties, rules, injunctions, judgments, decrees, writs, orders, codes, ordinances, standards, regulations, restrictions,
executive orders, official guidelines, policies, directives, interpretations, permits or other pronouncements, in each case, having the
effect of law of any Governmental Authority.

 

“Liabilities”
means any liability, Indebtedness, obligation, commitment, or expense, in each case, requiring either (a) the payment
of a monetary amount, or (b) any type or fulfillment of an obligation, and in each case whether accrued, absolute, contingent,
asserted, matured, unmatured, secured or unsecured.

 

“Lien” means
any lien, mortgage, pledge, security interest, charge or encumbrance of any kind (including, without limitation, any conditional sale
or other title retention agreement, any lease in the nature thereof, and any agreement to give any lien or security interest).

 

“Losses”
means any and all claims, damages, losses, Liabilities, costs, fines, penalties assessed by any Governmental Authority and expenses (including
settlement costs and any reasonable legal, accounting or other expenses for investigating or defending any actions or threatened actions),
and excluding any consequential, incidental, indirect, special, exemplary or punitive damages.

 

“Major Project Change”
means a (a) delay in the construction of the Project that is reasonably likely to result in a material delay in achieving
commercial operations, (b) material increase in the costs of, or liability to, the Project that will not be borne by Seller
or otherwise paid, extinguished or fully satisfied as of the Closing Date or (c) to the extent not taken into account in the
Base Case Model, fact, event, circumstance, condition or change that has a material adverse effect on the expected generation or operating
cost of the Project.

 

“Master JV HoldCo”
has the meaning set forth in the recitals to this Agreement.

 

    7

     

    

 

“Material Adverse
Effect” means any fact, event, circumstance, condition, change or effect that has, or would reasonably be expected to
have, individually or in the aggregate, a materially adverse effect on the assets, properties, liabilities, financial condition or
results of operations of the Project, the Company or the Black Rock Entities, individually or taken as a whole; provided, however,
that none of the following shall be or will be at the Closing Date deemed to constitute and shall not be taken into account in
determining the occurrence of a Material Adverse Effect: any fact, event, circumstance, condition, change or effect resulting from
(a) any economic change generally affecting the international, national or regional (i) electric generating
industry or (ii) wholesale markets for electric power; (b) any economic change in markets for commodities or
supplies, including electric power, as applicable, used in connection with the Company or the Black Rock Entities;
(c) any change in general regulatory or political conditions, including any engagements of hostilities, acts of war or
terrorist activities, natural disasters or weather- related events or changes imposed by a Governmental Authority associated with
additional security; (d) any change in any Laws (including Environmental Laws), industry standards generally affecting
the industry or markets in which the Company or the Black Rock Entities operate or GAAP; (e) any change in the financial
condition of the Company or the Black Rock Entities caused by the transactions contemplated by this Agreement; (f) any
change in the financial, banking, or securities markets (including any suspension of trading in, or limitation on prices for,
securities on the New York Stock Exchange, American Stock Exchange or Nasdaq Stock Market) or any change in the general national or
regional economic or financial conditions; (g) any actions to be taken pursuant to or in accordance with this Agreement;
or (h) the announcement or pendency of the transactions contemplated hereby, including any labor union activities or
disputes; provided, however, that any fact, event, circumstance, condition, change or effect resulting from clauses
(a) through (f) shall nonetheless be taken into consideration in determining whether a Material Adverse Effect has
occurred to the extent such changes, events, effects or occurrences have a materially disproportionate impact on the Company or the
Black Rock Entities, taken as whole, as compared to similarly situated businesses in the same industry and in the same geographical
area, which shall be deemed to include the State of West Virginia.

 

“MBR Authorization”
means an order issued by FERC (a) authorizing the wholesale sale of electric energy, capacity and specified ancillary services
at market-based rates pursuant to Section 205 of the FPA, (b) accepting a tariff pertaining to such sales and (c) granting
waivers of regulations and blanket authorizations customarily granted by FERC to an entity that makes wholesale sales of electric energy,
capacity and specified ancillary services at market-based rates, including blanket approval for the issuance of securities and assumption
of liabilities under Section 204 of the FPA.

 

“MW” means megawatt (alternating current).

 

“NERC” means the North American Electric
Reliability Corporation.

 

“Option”
with respect to any Person means any security, right, subscription, warrant, option, “phantom” stock right or other Contract
that gives the right to (i) purchase or otherwise receive or be issued any shares of capital stock or other security or equity interest
of such Person or any security or right of any kind convertible into or exchangeable or exercisable for any shares of capital stock or
other security or equity interest of such Person, or (ii) receive or exercise any benefits or rights similar to any rights enjoyed
by or accruing to the holder of shares of capital stock (or any other equity interest or security) of such Person, including any rights
to participate in the equity or income of such Person or to participate in or direct the election of any directors or officers (or similar
positions) of such Person or the manner in which any shares of capital stock (or any other security or equity interest) of such Person
are voted.

 

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

 

“Outside Date” has the meaning set forth
onin Section 7.01(ba)(ii).

 

“Party” or “Parties”
has the meaning set forth in the preamble to this Agreement.

 

    8

     

    

 

“Permit” means all licenses, permits,
consents, authorizations, approvals, ratifications, certifications, exemptions, variances, exceptions and similar consents granted
or issued by or from, and filings and registrations with or delivered to, any Governmental Authority.

 

“Permitted
Equity Encumbrances” means (a) those restrictions on transfer imposed by applicable securities laws, (b) Liens
or restrictions imposed on transfers set forth in the Constitutive Documents of the Company, (c) any Lien in favor of Purchaser
arising under or created by this Agreement, and (d) any Lien created by, through or under Purchaser or its Representatives.

 

“Permitted Exceptions” means, with respect
to the Real Property Rights, the following:

 

(a)           all
Liens for Taxes, which are not due and payable as of the Closing Date or, if due, are (i) not delinquent or (ii) being
contested in good faith through appropriate proceedings and set forth on Schedule 1.01 of the Disclosure Schedules and as to which
adequate reserves in accordance with GAAP have been taken on the books of the Company or the Black Rock Entities;

 

(b)           all
building codes and zoning ordinances and other Laws of any Governmental Authority heretofore, now or hereafter enacted, made or issued
by any such Governmental Authority affecting the Real Property Rights;

 

(c)           all
easements, rights-of-way, covenants, conditions, restrictions, reservations, licenses, agreements, and other similar matters which would
not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use and enjoyment of the Real Property Rights;

 

(d)           all
encroachments, overlaps, boundary line disputes, shortages in area, drainage and other easements, cemeteries and burial grounds and other
similar matters which would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use and enjoyment of
the Real Property Rights;

 

(e)           all
electric, telephone, gas, sanitary sewer, storm sewer, water and other utility lines, pipelines, service lines and facilities of any nature
now located on, over or under the Real Property Rights, and all licenses, easements, rights-of-way and other similar agreements relating
thereto which would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use and enjoyment of the Real
Property Rights;

 

(f)            all
existing public and private roads and streets (whether dedicated or undedicated), and all railroad lines and rights-of-way affecting the
Real Property Rights which would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use and enjoyment
of the Real Property Rights;

 

(g)           all
rights with respect to the ownership, mining, extraction and removal of minerals of whatever kind and character (including, without limitation,
all coal, iron ore, oil, gas, sulfur, methane gas in coal seams, limestone and other minerals, metals and ores) that have been granted,
leased, excepted or reserved prior to the date hereof which would not, in the aggregate, reasonably be expected to have a Material Adverse
Effect on the use and enjoyment of the Real Property Rights; and

 

(h)           inchoate
mechanic’s and materialmen’s liens for construction in progress and workmen’s, repairmen’s, warehousemen’s
and carrier’s liens arising in the ordinary course of business of the Company or the Black Rock Entities (i) as to which
there is no existing default on the part of the Company or the Black Rock Entities or (ii) that are being contested in good
faith through appropriate proceedings and as set forth on Schedule 1.01 of the Disclosure Schedules and as to which adequate reserves
in accordance with GAAP have been taken on the books of the Company or the Black Rock Entities.

 

    9

     

    

 

“Permitted
Lien” means any (a) mechanic’s, laborer’s, workmen’s, repairmen’s and carrier’s
Liens, including all statutory Liens (i) relating to obligations as to which there is no existing default on the part of
the Company or the Black Rock Entities or (ii) that Seller is contesting in good faith through appropriate proceedings
and set forth on Schedule 1.01 of the Disclosure Schedules and as to which adequate reserves in accordance with GAAP have
been taken on the books of the Company or the Black Rock Entities, as applicable; (b) Liens for Taxes, assessments and
other governmental charges not yet due and payable or, if due, (i) not delinquent or (ii) being contested in
good faith through appropriate proceedings and set forth on Schedule 1.01 of the Disclosure Schedules and as to which
adequate reserves in accordance with GAAP have been taken on the books of the Company or the Black Rock Entities;
(c) good faith deposits in connection with bids, tenders, leases, contracts or other agreements, including rent security
deposits; (d) pledges or deposits to secure public or statutory obligations or appeal bonds; (e) in the case of
personal property owned or held by the Company or the Black Rock Entities, covenants and other restrictions in the Company
Contracts; (f) any Liens relating to or arising from the Financing Documents; and (g) any other Liens set
forth on Schedule 1.01 of the Disclosure Schedules.

 

“Person”
means any natural person, corporation, limited liability company, general partnership, limited partnership, proprietorship, other business,
entity, organization, trust, union, association or Governmental Authority.

 

“PJM” means PJM Interconnection, L.L.C.

 

“Placed in Service” has the meaning set
forth in the Tax Equity Agreement.

 

“Pricing Adjustments” means:

 

[***]

 

“Project” has the meaning set forth in the
recitals to this Agreement.

 

“Project Company” has the meaning set forth
in the recitals to this Agreement.

 

“Project
Parameters” means the number of Wind Turbines that have been Placed In Service and the date that each Wind Turbine was Placed
In Service.

 

“Projections” has the meaning set forth
in Section 3.01(aa).

 

“Prudent Industry Practices”
means those practices, methods, standards and procedures as are commonly used by a significant portion of those providing operating services
on wind facilities of a type and size similar to the Project, which in the exercise of reasonable judgment and in the light of the facts
known at the time the decision was made, are considered good, safe and prudent practice in connection with the design, manufacture and
construction and use of electrical and other equipment, facilities, equipment and improvements, with commensurate standards of safety,
performance, dependability, efficiency and economy.

 

“PSC” means the Public Service Commission
of West Virginia.

 

“PUHCA” means
the Public Utility Holding Company Act of 2005 and the implementing regulations of the FERC thereunder.

 

    10

     

    

 

“Purchase Price”
has the meaning set forth in Section 2.02.means
the Class A Purchase Price plus (a) prior to the update to the Base
Purchase Price pursuant to Section 2.05, the Base Purchase
Price and (b) following the update to the Base Purchase
Price pursuant to Section 2.05, the Adjusted Base Purchase
Price.

 

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

 

    11

     

    

 

“Purchaser Indemnified Parties”
means Purchaser, its successors and permitted assigns, and each of their Representatives.

 

“Purchaser Parent Guaranty”
means the Purchaser Parent Guaranty in the form of Exhibit G.

 

“Purchaser
Second Closing Representations” has the meaning set forth in Section 3.02.

 

“Real Property Rights”
means all real property rights and interests of the Company or the Black Rock Entities, including all options, leases, easements, land
use rights, access easements, transmission line easements, rights to ingress and egress, any and all bids, grants, awards, applications,
rights to negotiate, and all other rights relating to the Land.

 

“Regional Entity” means ReliabilityFirst
Corporation.

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, deposit, disposal, emptying, escaping, discharge, dispersal,
dumping, leaching or migration of Hazardous Substances into or upon any land, water, or air, including the movement of Hazardous Substances
through or in any land, water, or air, including the Land.

 

“Reports”
means (a) the Independent Engineer’s Report, (b) the Environmental Report (as defined in the Tax Equity
Agreement), (c) the Wind Resource Report (as defined in the Tax Equity Agreement), (d) the Insurance Consultant’s
Report (as defined in the Tax Equity Agreement), (e) the Transmission Consultant’s Report and (f) the Cost
Seg Report, including any bring downs of such reports delivered pursuant to the Tax Equity Agreement as of the Closing Date.

 

“Representatives”
means with respect to any Person, the officers, directors, employees, counsel, accountants, financing advisors, consultants and agents
of such Person.

 

“Retained Support Obligation” has the meaning
set forth in Section 5.07(b).

 

“Second Closing”
has the meaning set forth in Section 2.03(a).

 

“Second
Closing Date” has the meaning set forth in Section 2.03(a).

 

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

 

“Seller Approvals” has the meaning set forth in Section 3.01(e).

 

“Seller
Consents” has the meaning set forth in Section 3.01(c).

 

“Seller Fundamental Representations” has
the meaning set forth in Section 6.03.

 

“Seller Indemnified Parties” means
Seller, its successors and permitted assigns, and each of their Representatives.

 

“Seller
Second Closing Representations” has the meaning set forth in Section 3.01.

 

“Substitute Support Obligations” has the
meaning set forth in Section 5.07(a).

 

“Support Obligations” has the meaning set forth in Section 5.07(a).

 

    12

     

    

 

“Tax” or
 “Taxes” means any income, profits, gross or net receipts, property, sales, use, capital gain, transfer, excise, license,
production, franchise, employment, social security, occupation, payroll, registration, capital, governmental pension or insurance, withholding,
royalty, severance, stamp or documentary, value added, goods and services, business or occupation or other tax, charge, assessment, duty,
levy, unclaimed property or escheat obligation, compulsory loan or fee of any kind (including any interest, additions to tax, or civil
or criminal penalties thereon) of the United States or any state or local jurisdiction therein, or of any other nation or any jurisdiction
therein, together with any obligations for the Taxes of any other Person whether as successor, a member of a group, indemnitor, or otherwise.

 

“Tax Equity Agreement”
means that certain Equity Capital Contribution Agreement to be entered into by and between TE Holdco and Tax Equity Investor, that, with
respect to the form of such agreement delivered by Seller to Purchaser prior to the Execution Date, is (a) the same in all
respects as to those certain conditions to the obligations of the Tax Equity Investor set forth in Section 5.2 of such form of Tax
Equity Agreement, and (b) otherwise in all other respect the same or, to the extent modified, so modified pursuant to the
terms and subject to the conditions of Section 5.12(a).

 

“Tax Equity Funding Date”
means the Funding Date (as defined in the Tax Equity Agreement).

 

“Tax
Equity Guaranty” means the Guaranty Agreement dated on or
about the date hereof by Clearway Energy Operating LLC on behalf
of TE Holdco granted to [***].

 

“Tax Equity Investor” means [***].

 

“Tax Return”
means any report, form, return, statement or other information (including any amendments) supplied to or filed with, or required to be
supplied to or filed with a Governmental Authority by a Person with respect to Taxes, including information returns, any amendments thereof
or schedule or attachment thereto and any documents with respect to or accompanying requests for the extension of time in which to file
any such report, form, return, statement or other information.

 

“TE Holdco” has the
meaning set forth in the recitals to this Agreement. “Title Company” means Old Republic National Title Insurance Company.

 

“Title Policy”
means the ALTA 2006 extended coverage owner’s policy of title insurance, issued by the Title Company in favor of the Project Company,
subject only to the exceptions set forth in the Title Proforma or otherwise in a form reasonably acceptable to Purchaser.

 

“Title
Proforma” has the meaning set forthmeans
the Title Policy Pro Forma (as defined in the Tax Equity Agreement).

 

“Transfer Taxes” has the meaning set forth
in Section 5.08(a).

 

“Treasury Regulations”
means the final and temporary regulations promulgated by the U.S. Department of Treasury under the Code.

 

“Wind Turbine” has the meaning set forth
in the Tax Equity Agreement.

 

[***]

 

    13

     

    

 

		1.02.	Rules of Interpretation.

 

(a)           Construction.
As used herein, the singular shall include the plural, the masculine gender shall include the feminine and neuter and the neuter gender
shall include the masculine and feminine unless the context otherwise indicates.

 

(b)           References.
References to Articles and Sections are intended to refer to Articles and Sections of this Agreement, and all references to Annexes, Exhibits
and Schedules are intended to refer to Annexes, Exhibits and Schedules attached to this Agreement, each of which is made a part of this
Agreement for all purposes. The terms “include,” “includes” and “including” mean “including,
without limitation” and “including but not limited to”. Any date specified for action that is not a Business Day shall
mean the first Business Day after such date. Any reference to a Person shall be deemed to include such Person’s successors and permitted
assigns. Any reference to any document or documents shall be deemed to refer to such document or documents as amended, modified, supplemented
or replaced from time to time in accordance with the terms of this Agreement. References to laws refer to such laws as they may be amended
from time to time, and references to particular provisions of a Law include any corresponding provisions of any succeeding Law. The words
 “herein,” “hereof” and “hereunder” and words of similar import shall refer to this Agreement as a
whole and not to any particular section or subsection of this Agreement. References to money refer to legal currency of the United States
of America.

 

(c)           Accounting
Terms. As used in this Agreement and in any certificate or other documents made or delivered pursuant hereto, accounting terms not
defined in this Agreement or in any such certificate or other document, and accounting terms partly defined in this Agreement or in any
such certificate or other document to the extent not defined, will have the respective meanings given to them under GAAP. To the extent
that the definitions of accounting terms in this Agreement or in any such certificate or other document are inconsistent with the meanings
of such terms under GAAP, the definitions contained in this Agreement or in any such certificate or other document will control.

 

ARTICLE 2 

SALE OF MEMBERSHIP INTERESTS AND CLOSING

 

2.01.       Purchase
and Sale. Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, all of the right, title and interest
of Seller in and to (a) the
Acquired Interests at the Closing, and
(b) the Class A Interests at the Second Closing, in each case, on the terms and subject to the conditions
set forth in this Agreement.

 

2.02.       Payment
of Purchase Price. Upon the terms and subject to the conditions hereinafter set forth, in consideration of the delivery by Seller
of (a) the
Acquired Interests, Purchaser, by wire transfer of immediately available United States funds, shall pay to Seller at the Closing an amount
equal to Sixty-Five Million One Hundred Twenty-Five Thousand Six Hundred Ten Dollars and Ninety-Six
Cents ($65,125,610.96sixty
one million five hundred sixty five thousand three hundred fourteen dollars and forty four cents ($61,565,314.44) (the “Base
Purchase Price” and, as adjusted pursuant to Section 2.04 and Section 2.05,
the “)
less the Additional Turbine Holdback Amount,
and (b) the Class A Interests, Purchaser, by wire transfer of immediately available United States funds, shall pay to Seller
at the Second Closing the Class A Purchase Price”).

 

    14

     

    

 

		2.03.	Closing.

 

(a)           Subject
to the terms and conditions of this Agreement, the closing of the transactions described in Section 2.01(a) (the
 “Closing”) willand Section 2.01(b) (the
 “Second Closing”) will each take place remotely via the electronic exchange of documents and
signatures no later than (ai) in respect
of the Closing, two (2) Business Days following the fulfillment or waiver of the conditions set forth in Article 4Section 4.01 (other
than those conditions that by their nature are to be satisfied on the Closing Date) or (b) such
other time as may be determined by mutual agreement of Seller and Purchaser (the day on which the Closing takes place being the
 “Closing Date”). ,
and (ii) in respect of the Second Closing, two (2) Business Days following the Class A Transfer and the
fulfillment or waiver of the conditions set forth in Section 4.02 (other than those conditions that by their nature are
to be satisfied on the Second Closing Date) or such other time as may be determined by mutual agreement of Seller and Purchaser (the
day on which the Second Closing takes place being the “Second Closing Date”).

 

		(b)	At the Closing, the following shall occur:

 

(i)            Purchaser
shall pay the Base Purchase Price less
the Additional Turbine Holdback Amount by wire transfer of immediately available funds to Seller’s account,
which account shall be communicated by Seller to Purchaser in writing no later than two (2) Business Days prior to the Closing;

 

(ii)           The
Parties shall deliver, or cause to be delivered, to the other Party the certificates and other deliverables pursuant to Article 4Section 4.01;

 

(iii)          The
execution by both Parties of the Assignment of Membership Interests and all other agreements, documents, instruments or certificates required
to be delivered at or prior to the Closing pursuant to Article 4Section 4.01;
and

 

(iv)          Seller
shall deliver to Purchaser a certificate or certificates representing the Acquired Interests, duly endorsed for transfer to Purchaser
or accompanied by one or more membership interests powers duly endorsed for transfer to Purchaser.

 

		(c)	At the Second Closing, the following shall occur:

 

(i)            Purchaser
shall pay the Class A Purchase Price by wire transfer of immediately available funds to Seller’s account, which account shall
be communicated by Seller to Purchaser in writing no later than two (2) Business Days prior to the Second Closing;

 

(ii)           The
execution by both Parties of the Assignment of Membership Interests and all other agreements, documents, instruments or certificates required
to be delivered at or prior to the Second Closing pursuant to Section 4.02; and

 

(iii)          Seller
shall deliver to Purchaser a certificate or certificates representing the Class A Interests, duly endorsed for transfer to Purchaser
or accompanied by one or more membership interests powers duly endorsed for transfer to Purchaser.

 

		2.04.	Adjusted Purchase Price Amount[Reserved].

 

(a)           No
less than five (5) Business Days prior to the Closing Date, Seller shall provide to Purchaser an Adjusted Purchase Price Model for
purposes of calculating the Adjusted Purchase Price Amount.

 

(b)           If
the Adjusted Purchase Price Amount is positive, then the Base Purchase Price
shall be increased by the Adjusted Purchase Price Amount. If the Adjusted Purchase Price Amount is
negative, then the Base Purchase Price shall be decreased by the
absolute value of the Adjusted Purchase Price Amount. Any adjustment made under this Section 2.04 will be treated as an
adjustment to the Base Purchase Price for Tax
purposes.

 

    15

     

    

 

(c)           “Adjusted
Purchase Price Amount” shall equal the number set forth in cell PP Adj Table Cell T9 of the Adjusted Purchase Price Model.

 

2.05.       Post-Closing
Additional Turbine Adjustments.
Promptly following the Additional Turbine Deadline, the Parties shall, acting reasonably, update the Base Case Model (the
 “Post-Closing Model Update”) to account for differences between the existing Project Parameters as of the
Additional Turbine Deadline and the Project Parameters assumed in
the Base Case Model as
of the Closing Date (ignoring any impacts indemnified, satisfied or otherwise mitigated by Seller or its Affiliates without recourse
to, or impact on, the Project continuing after the Additional Turbine Deadline). In the event that less than [***] Wind Turbines
are Placed in Service before the Outside Date has passed, the Parties shall engage in good faith to revise the operations and
maintenances expenses in
the Base Case Model commensurate
with the total number of Wind Turbines actually Placed in Service as of the Outside Date and the
Base Purchase Price shall be adjusted
accordingly. The Base
Purchase Price shall be updated
[***]. On the date that is five (5) Business Days after the Post-Closing Model Update, the Purchaser shall pay to the Seller
an amount equal to the difference between the Adjusted Base Purchase Price and the amounts paid to Seller pursuant to
Section 2.02(a).

 

(a) If
at the Closing Date there are no Additional Turbines, then the Base Purchase Price shall not be adjusted by this Section 2.05.

 

 (b) If at the Closing Date there are any Additional Turbines, then:

 

(i) The
Base Purchase Price shall be decreased by an amount equal to the Additional Turbine Holdback Amount; and

 

(ii) If
(A) there has been an adjustment to the Base Purchase Price pursuant to
Section 2.05(b)(i) above and (B) there
are any Additional Turbines that have been Placed in Service during the period between the Closing Date and the Additional Turbine Deadline,
Purchaser shall calculate the Additional Turbine Funding Amount and, within five (5) Business Days after the Additional Turbine Deadline,
Purchaser shall pay to Seller the Additional Turbine Funding Amount.

 

(c) The
 “Additional Turbine Funding Amount” shall be an amount of money that is equal to the product of the Additional Turbine
Amount multiplied by the number of Additional Turbines Placed in Service by the Additional Turbine Deadline.

 

2.06.       Certain
Proceeds. Notwithstanding anything herein to the contrary, in the event that anytime following the Final Completion Date,
Purchaser (if Purchaser receives any such payment separately and not from the Company or a Black Rock Entity) or the Company or any
Black Rock Entity receives any payment with respect to any amounts released from any completion escrow account or any amounts
released from adequate reserves established at or prior to the Closing Date in accordance with GAAP by the Company or any Black Rock
Entity, Purchaser and Seller agree that such amount shall be retained by, or immediately refunded to, Seller.

 

    16

     

    

 

ARTICLE 3

REPRESENTATIONS AND
WARRANTIES

 

3.01.       Representations
and Warranties with respect to Seller, the Company and the Black Rock Entities. Seller hereby represents and warrants to Purchaser,
as of the Execution Date and the,
the Closing Date and, solely with respect to Section 3.01(a) (Existence), Section 3.01(b) (Authority),
Section 3.01(c) (No Consent), Section 3.01(d)(i), 3.01(d)(iii) and 3.01(d)(iv) (No Conflicts),
Section 3.01(e) (Regulatory Matters), Section 3.01(f) (Legal Proceedings), Section 3.01(g) (Brokers),
Sections 3.01(i)(x), 3.01(i)(xi) and 3.01(i)(xii) (Company and the Black Rock Entities) and Section 3.01(cc)
(No Other Warranties) (collectively, the “Seller Second Closing Representations”), the Second Closing
Date, as follows; provided that any representation and warranty set forth in this Section 3.01 and expressly stated
to be made only as of a specified date shall be made solely as of such date:;
provided further that in respect of each of the Seller Second Closing Representations, references to the Company and the Black
Rock Entities shall be disregarded and deemed deleted.

 

(a)           Existence.
Seller is a limited liability company duly formed, validly existing and in good standing under the Laws of the State of Delaware. Seller
has full power and authority to execute and deliver this Agreement and any other agreements to be executed and delivered by Seller hereunder,
and to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby.

 

(b)           Authority.
All actions or proceedings necessary to authorize the execution and delivery by Seller of this Agreement and the performance by Seller
of its obligations hereunder have been duly and validly taken. This Agreement has been duly and validly executed and delivered by Seller
and constitutes the legal, valid and binding obligations of Seller enforceable against Seller in accordance with its terms, except as
the same may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, arrangement, moratorium or other similar Laws
relating to or affecting the rights of creditors generally, or by general equitable principles.

 

(c)           No
Consent. Except as set forth on Schedule 3.01(c) of the Disclosure Schedules (the “Seller Consents”),
and except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, or would not reasonably
be expected to adversely affect the ability of Seller to consummate the transactions contemplated by this Agreement or to perform its
obligations hereunder, the execution, delivery and performance by Seller of this Agreement does not require Seller to obtain any consent,
approval or action of or give any notice to any Person as a result or under any terms, conditions or provisions of any Contract or Permit
by which it is bound.

 

(d)           No
Conflicts. The execution, delivery and performance of this Agreement by Seller does not and will not (i) conflict with,
result in a breach of, or constitute a default under, the Constitutive Documents of Seller or the Company or any material Contract to
which Seller, or Company Contract to which the Company or the Black Rock Entities, is a party; (ii) result in the creation
of any Lien upon any of the Acquired Interests
or, solely on the Second Closing Date, the Class A Interests or assets or properties of the Company or the Black Rock
Entities; (iii) accelerate or modify, or give any party the right to accelerate or modify, the time within which, or the
terms under which, any duties or obligations are to be performed by Seller, the Company or the Black Rock Entities or any rights or benefits
are to be received by any Person, under any Contract to which Seller, the Company or the Black Rock Entities is a party; or 

		(i)	violate in any material respect any applicable Law.

 

    17

     

    

 

(e)           Regulatory
Matters. Except as set forth on Schedule 3.01(e) of the Disclosure Schedules (“Seller Approvals”),
no Governmental Approval is required on the part of Seller, the Company or the Black Rock Entities in connection with the execution, delivery
and performance of this Agreement or the consummation of the transactions contemplated by this Agreement.

 

(f)            Legal
Proceedings. Except as set forth in Schedule 3.01(f) of the Disclosure Schedules, and except for Actions or Proceedings
in respect of Environmental Laws that are governed exclusively by Section 3.01(p)(ii), there are no Actions or Proceedings
pending or, to the Knowledge of Seller, threatened, as of the date of this Agreement against Seller, the Company or the Black Rock Entities
that (i) affect Seller, the Company or the Black Rock Entities or any of their assets or properties (including the Project),
except, solely in respect of Seller, which would not reasonably be expected to have a material adverse effect on Seller’s ability
to perform under this Agreement or (ii) would reasonably be expected to result in the issuance of an Order restraining, enjoining
or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated by this Agreement. None of Seller,
the Company or the Black Rock Entities is subject to any Order which materially restricts the operation of its business or which would
reasonably be expected to have a Material Adverse Effect.

 

(g)           Brokers.
Except as set forth on Schedule 3.01(g) of the Disclosure Schedules, no Person has any claim against the Seller, the Company
or the Black Rock Entities for a finder’s fee, brokerage commission or similar payment directly or indirectly in connection with
the transactions contemplated by this Agreement.

 

(h)           Compliance
with Laws. Neither Seller, the Company nor the Black Rock Entities is or, to the Knowledge of Seller, has been in the past six (6) years
in material violation of any material Law or Order applicable to the Company, the Black Rock Entities or the Project or by which any of
the Acquired Interests are bound or subject. Notwithstanding the foregoing, compliance with Environmental Laws is exclusively and solely
governed by Section 3.01(p) hereof. None of Seller, the Company nor the Black Rock Entities has received notice from
any Governmental Authority of any material violation of any such Law.

 

		(i)	Company and the Black Rock Entities.

 

(i)           The
Company and the Black Rock Entities are limited liability companies validly existing and in good standing under the Laws of Delaware,
and each has full power and authority to conduct its business as and to the extent now conducted and to own, use and lease its assets.
The Company and the Black Rock Entities are duly qualified, licensed or admitted to do business and are in good standing in those jurisdictions
specified in Schedule 3.01(i) of the Disclosure Schedules, which are the only jurisdictions in which the ownership, use or
leasing of the Company’s assets and the Black Rock Entities’ assets, or the conduct or nature of their business, makes such
qualification, licensing or admission necessary, except in those jurisdictions where the failure to be so qualified, licensed or admitted
to do business would not reasonably be expected to result in a Material Adverse Effect.

 

(ii)           All
of the issued and outstanding Acquired Interests are owned directly, beneficially and of record by Seller free and clear of all
Liens, except as set forth on Schedule 3.01(i)(ii) of the Disclosure Schedules. Except as set forth on Schedule
3.01(i)(ii) of the Disclosure Schedules and for the ownership by the Tax Equity Investor following the consummation of the
transactions contemplated by the Tax Equity Agreement, all of the issued and outstanding equity interests of the Black Rock Entities
are owned directly or indirectly, beneficially and of record by the Company, free and clear of all Liens except as set forth in Schedule
3.01(i)(ii) of the Disclosure Schedules. All of the equity interests of the Company and the Black Rock Entities have been
duly authorized, validly issued and are fully paid and non-assessable and have been issued in compliance with federal and state
securities laws.

 

    18

     

    

 

(iii)          The
name of each director and officer (or similar positions) of the Company and the Black Rock Entities, and the position with the Company
or the Black Rock Entities held by each, are listed in Schedule 3.01(i)(iii) of the Disclosure Schedules.

 

(iv)          Seller
has, prior to the execution of this Agreement, delivered to Purchaser true and complete copies of the Constitutive Documents of the Company
and the Black Rock Entities as in effect on the date hereof.

 

(v)           Except
as set forth in Part I of Schedule 3.01(i)(v) of the Disclosure Schedules, there are no outstanding Options issued
or granted by, or binding upon, the Company or the Black Rock Entities for any Person to purchase or sell or otherwise acquire or dispose
of any equity interest or other security or interest in the Company or the Black Rock Entities other than as set forth under this Agreement.
Except as set forth in Part II of Schedule 3.01(i)(v) of the Disclosure Schedules, none of the Acquired Interests or
the membership interests of the Black Rock Entities are subject to any voting trust or voting trust agreement, voting agreement, pledge
agreement, buy- sell agreement, right of first refusal, preemptive right or proxy.

 

(vi)          Except
as set forth in Section 3.01(i)(ii) and as set forth on Schedule 3.01(i)(vi) of the Disclosure Schedules,
neither the Company nor the Black Rock Entities have any subsidiaries, equity interests, interests in joint ventures or general or limited
partnerships or other investment or portfolio assets of a similar nature.

 

(vii)         Except
as set forth on Schedule 3.01(i)(vii) of the Disclosure Schedules, neither the Company nor the Black Rock Entities conduct
(i) any business other than the development, ownership, operation and management of the Project or (ii) any operations
other than those incidental to the ownership, operation, and management of the Project.

 

(viii)        The
books and records of the Company and the Black Rock Entities are (i) in all material respects, accurate and complete and have
been maintained in accordance with good business practices and (ii) state in reasonable detail and accurately and fairly reflect
the activities and transactions of the Company and the Black Rock Entities.

 

(ix)           The
(A) execution and delivery by Seller of the Assignment of Membership Interests and (B) if applicable, the delivery
of certificates representing the Acquired Interests, duly endorsed for transfer to Purchaser or accompanied by one or more membership
interest powers duly endorsed for transfer to Purchaser, will transfer to Purchaser good, valid and marketable title to the Acquired Interests,
free and clear of all Liens, except as set forth in Schedule 3.01(i)(ix) of the Disclosure Schedules.

 

(x)           As
of the Second Closing Date, all of the issued and outstanding Class A Interests are owned directly, beneficially and of record by
Seller free and clear of all Liens, except Permitted Equity Encumbrances.

 

(xi)          Except
as set forth in Part II of Schedule 3.01(i)(v) of the Disclosure Schedules, as of the Second Closing Date, none of the Class A
Interests are subject to any voting trust or voting trust agreement, voting agreement, pledge agreement, buy-sell agreement, right of
first refusal, preemptive right or proxy.

 

    19

     

    

 

(xii)         The
(A) execution and delivery by Seller of the Assignment of Membership Interests and (B) if applicable, the delivery
of certificates representing the Class A Interests, duly endorsed for transfer to Purchaser or accompanied by one or more membership
interest powers duly endorsed for transfer to Purchaser, will transfer to Purchaser good, valid and marketable title to the Class A
Interests, free and clear of all Liens, except Permitted Equity Encumbrances.

 

(j)           No
Undisclosed Liabilities. Neither the Company nor the Black Rock Entities has any liability or obligation that would be required to
be disclosed on a balance sheet prepared in accordance with GAAP, except for the liabilities and obligations of the Company or the Black
Rock Entities (i) incurred in the ordinary course of business consistent with past practice, (ii) that do not
and are not individually or in the aggregate reasonably expected to have a Material Adverse Effect, (iii) that constitute
amounts payable under the Company Contracts expressly provided for under existing Company Contracts that have not arisen from a breach
thereof or thereunder or (iv) as set forth in Schedule 3.01(j) of the Disclosure Schedules.

 

(k)           Taxes.
Except as disclosed on Schedule 3.01(k) of the Disclosure Schedules, since the date of formation of the Company and each of
the Black Rock Entities, as applicable:

 

(i)            All
federal and all other material Tax Returns required to be filed by or with respect to the Company or the Black Rock Entities (or income
attributable thereto) have been timely filed with the appropriate Governmental Authorities in all jurisdictions in which such Tax Returns
are required to be filed. Such Tax Returns are true, correct and complete in all material respects, to the extent such Tax Returns relate
to the Company or the Black Rock Entities (or income attributable thereto), and Seller, Affiliates of Seller, the Company and the Black
Rock Entities have paid, or made adequate provisions for the payment of, all Taxes, assessments and other charges due or claimed to be
due (regardless of whether shown on any Tax Return) from the Company or the Black Rock Entities or for which the Company, Black Rock Entities
or the Purchaser could be held liable.

 

(ii)           There
are no (i) Actions or Proceedings currently pending or threatened in writing against the Company or the Black Rock Entities or related
to their business operations, by any Governmental Authority for the assessment or collection of Taxes, (ii) audits or other examinations
of any Tax Return of the Company or the Black Rock Entities (or income attributable thereto) in progress nor has Seller, any Affiliate
of Seller, the Company or the Black Rock Entities been notified in writing of any request for examination with respect to the Company
or the Black Rock Entities, (iii) claims for assessment or collection of Taxes that have been asserted in writing against Seller
or any Affiliate of Seller with respect to the Company or the Black Rock Entities, the Company or the Black Rock Entities (or the income
attributable thereto) or (iv) matters under discussion with any Governmental Authority regarding claims for assessment or collection
of Taxes against the Company or the Black Rock Entities (or income attributable thereto). There are no outstanding agreements, waivers
or consents extending the statutory period of limitations applicable to any Tax of the Company or the Black Rock Entities, and, except
as set forth on Schedule 3.01(k) of the Disclosure Schedules, neither the Company nor the Black Rock Entities has requested
any extensions of time within which to file any Tax Return. There are no Liens for unpaid or delinquent Taxes, assessments or other charges
or deposits with respect to the Acquired Interests or, as of the Second Closing
Date, the Class A Interests, other than Liens for Taxes not yet due or delinquent or being contested in good faith by
appropriate proceedings and for which adequate reserves on financial statements have been established.

 

    20

     

    

 

(iii)          The
Company and the Black Rock Entities have been properly classified for federal and state income Tax purposes as disregarded entities or
partnerships under Treasury Regulations Section 301.7701-2 and -3 and neither Seller nor any Affiliate of Seller has made or caused
to be made any election for any Tax purposes to classify the Company or the Black Rock Entities as other than a disregarded entity or
partnership.

 

(iv)          Neither
the Company nor the Black Rock Entities is a party to any Tax allocation, Tax sharing or other similar agreement, other than customary
Tax indemnification or other provisions contained in any credit or other ordinary course commercial agreements the primary purpose of
which does not relate to Taxes.

 

(v)           The
Company has never entered into or been a party to any “listed transaction,” as defined in Section 1.6011-4(b)(2) of
the Treasury Regulations.

 

(vi)          None
of the property owned by either the Company or the Black Rock Entities is “tax exempt use property” within the meaning of
Section 168(h) of the Code or “tax exempt bond financed property” within the meaning of Code Section 168(g)(5).

 

(l)           Employees.
Neither the Company nor the Black Rock Entities has, nor has ever had, any employees or any liability, actual or contingent, with respect
to any Employee Plan.

 

		(m)	Company Contracts.

 

(i)           Schedule
3.01(m)(i) of the Disclosure Schedules contains a true, correct and complete list of all Company Contracts as of the Execution
Date, which includes as of such Execution Date:

 

(A)          all
Contracts for the purchase, exchange or sale of electric power, capacity, ancillary services or Environmental Attributes;

 

		(B)	all Contracts for the transmission of electric power;

 

		(C)	all interconnection Contracts for electricity;

 

(D)          all
Contracts with Seller, HASI or any of their respective Affiliates; and

 

(E)           all
Contracts relating to the Acquired Interests, solely as of the Second Closing
Date, the Class A Interests or membership interests of the Company or the Black Rock Entities.

 

(ii)           Seller
has provided Purchaser with, or access to, true, correct and complete copies of all the Company Contracts required to be disclosed on
Schedule 3.01(m)(i) of the Disclosure Schedules and the agreements described on Schedule 3.01(y) of the Disclosure
Schedules, and all amendments, modifications and supplements thereto. Each Company Contract constitutes the legal, valid, binding and
enforceable obligation of the Company or the Black Rock Entities party thereto and to the Knowledge of Seller, the other parties thereto,
except as may be limited by (i) bankruptcy, insolvency, reorganization, moratorium and other similar laws of general application
affecting the rights and remedies of creditors, and (ii) general principles of equity (regardless of whether such enforcement
is considered in a proceeding in equity or at law). Each Company Contract is in full force and effect.

 

    21

     

    

 

(iii)          Except
as disclosed on Schedule 3.01(m)(iii) of the Disclosure Schedules, neither the Company nor the Black Rock Entities or, to
the Knowledge of Seller, the other parties thereto, is in material violation or material breach of or material default under any Company
Contract to which it is a party.

 

(iv)          None
of Seller, the Company or any of the Black Rock Entities has given or received notice or other written communication regarding any actual,
alleged, possible or potential material violation or material breach with respect to any material provision of, or any material default
under, or intent to cancel or terminate, any Company Contract, which violation, breach or default has not been remedied, cured or waived
or for which any such intent to cancel or terminate has been withdrawn.

 

		(n)	Real Property.

 

(i)           Schedule
3.01(n)(i) of the Disclosure Schedules lists all Real Property Rights of the Company and the Black Rock Entities, the real property
in which the Company and the Black Rock Entities have Real Property Rights, and appurtenances thereto (collectively, the “Land”).
The Land is free and clear of all Liens except (A) for Permitted Exceptions and (B) as disclosed in the Title
Proforma.

 

(ii)           Except
as set forth on Schedule 3.01(n)(ii) of the Disclosure Schedules, neither the Company nor the Black Rock Entities has entered
into any assignment, lease, license, sublease, easement or other agreement granting to any Person any right to the possession, use, occupancy
or enjoyment of the Land.

 

(iii)          Neither
the Company nor the Black Rock Entities has caused or suffered to exist any easement, right-of-way, covenant, condition, restriction,
reservation, license, agreement or other similar matter that would materially interfere with the operation of the Project or the business
of the Company or the Black Rock Entities in respect of the Real Property Rights, except as set forth on Part I of Schedule 3.01(n)(iii) of
the Disclosure Schedules or in the Title Proforma.

 

(iv)          Except
as set forth on Part II of Schedule 3.01(n)(iii) of the Disclosure Schedules, the Real Property Rights are all the real
property rights necessary for the Company and the Black Rock Entities to develop, construct, own and operate the Project.

 

(v)           None
of Seller, the Company or the Black Rock Entities has received any written notice of (A) condemnation, eminent domain or similar
governmental proceeding materially affecting, individually or in the aggregate, the Project or (B) zoning, ordinance, building,
fire, health, or safety code violations materially affecting the Project.

 

(o)           Title
Policy. As of the Closing Date, Seller has provided to Purchaser a true and correct copy of the Title Policy covering the Real Property
Rights. The Real Property Rights are subject only to (i) Permitted Exceptions, (ii) matters disclosed in the Title
Policy and (iii) matters consented to in writing by Purchaser.

 

 (p)           Environmental.

 

(i)            Except
as set forth on Schedule 3.01(p)(i) of the Disclosure Schedules, the Company and the Black Rock Entities are in
compliance with all Environmental Laws, except to the extent that any such material non-compliance would not reasonably be expected
to have a Material Adverse Effect. There is no material violation of any Environmental Law or other material liability arising under
any Environmental Law with respect to the Project or the Land.

 

    22

     

    

 

(ii)           There
are no Actions or Proceedings pending or, to the Knowledge of Seller, threatened, as of the date of this Agreement against Seller (solely
in respect of the Project, the Company or the Black Rock Entities), the Company or the Black Rock Entities relating to any material violation
of Environmental Law. None of Seller, the Company or the Black Rock Entities has received written notice from any Governmental Authority
of any material violation of any Environmental Law in respect of the Project, the Company or the BlackRockBlack
Rock Entities (other than those violations that have been resolved or remedied).

 

(iii)          Schedule
3.01(p)(iii) of the Disclosure Schedules sets forth all material Permits required pursuant to any Environmental Law to be acquired
or held by or for the benefit of Seller, the Company or the Black Rock Entities for the development, construction, ownership, use or operation
of the Land or the business of the Company and the Black Rock Entities as currently conducted. Except as set forth in Schedule 3.01(p)(iii) of
the Disclosure Schedules, such Permits have been obtained in a timely manner and are presently maintained in full force and effect in
the name of the Company or the Black Rock Entities.

 

(iv)          Except
as set forth on Schedule 3.01(p)(iv) of the Disclosure Schedules, to the Knowledge of Seller, there has been no Release of
Hazardous Substances at or from the Project in violation of Environmental Laws or Permits required by or issued pursuant to any Environmental
Law for the development, construction, ownership, use or operation of the Land or the business of the Company and the Black Rock Entities
as currently conducted that would be reasonably expected to trigger any obligation of Seller, the Company or the Black Rock Entities under
Environmental Laws to report, investigate, remove or remediate such Release.

 

(v)           Seller
has made available to Purchaser all material environmental reports, assessments and documents that are in the possession of Seller, the
Company or the Black Rock Entities and that relate to actual or potential material liabilities or obligations under Environmental Laws
with respect to the Project or the Land.

 

		(q)	Permits.

 

(i)           Schedule
3.01(q)(i) of the Disclosure Schedules sets forth all material Permits required pursuant to any Law to be acquired or held by
or for the benefit of Seller, the Company or the Black Rock Entities in connection with the development, construction, ownership, maintenance,
or operation of the Project, except for those required by the Environmental Laws, which are exclusively and solely governed by Section 3.01(p) hereof,
or those of a type that are routinely granted on application and for which none of Seller, the Company or the Black Rock Entities has
reason to believe will not be obtained in due course. Except as set forth in Schedule 3.01(q)(i) of the Disclosure Schedules,
such Permits have been obtained in a timely manner and are presently maintained in full force and effect in the name of the Company or
the Black Rock Entities.

 

(ii)           Except
as set forth on Schedule 3.01(q)(ii) of the Disclosure Schedules, and except as relates to compliance with Environmental
Laws which is exclusively and solely governed by Section 3.01(p) hereof, Seller, the Company and the Black Rock
Entities are in material compliance with each such Permit, and in compliance with the FPA and PUHCA, except where the failure to so
comply would not reasonably be expected to have a Material Adverse Effect, and have received no written notice of violation or
noncompliance from any Governmental Authority which violation or noncompliance has not been remedied or any written notice or claim
asserting or alleging that any such Permit (i) is not in full force and effect, or (ii) is subject to any
Action or Proceeding or unsatisfied condition, in each case of clause (i) and (ii) which has not been remedied or
resolved.

 

    23

     

    

 

(iii)          There
are no proceedings pending or, to the Knowledge of Seller, threatened which would reasonably be expected to result in the modification,
revocation or termination of any material Permit set forth in Schedule 3.01(q)(i) of the Disclosure Schedules.

 

(r)           Affiliate
Transactions. Except (i) for transactions (A) disclosed on Schedule 3.01(r) of the Disclosure
Schedules, (B) under Company Contracts disclosed on Schedule 3.01(m)(i) of the Disclosure Schedules, or (C) under
Company Contracts entered into pursuant to the terms and subject to the conditions of Section 5.12(a), and (ii) for
this Agreement, there are no existing or pending transactions, Contracts or Liabilities between or among the Company or the Black Rock
Entity on the one hand, and Seller or any of Seller’s Affiliates on the other hand.

 

 (s)           Intellectual Property.

 

(i)           To
the Knowledge of Seller, except as set forth in Schedule 3.01(s)(i) of the Disclosure Schedules, there is not now and has
not been during the past three (3) years any infringement or misappropriation by Seller of any valid patent, trademark, trade name,
servicemark, copyright, trade secret or similar intellectual property which relates to the Acquired Interests or the assets of the Company
or the Black Rock Entities and which is owned by any third party, and there is not now any existing or, to the Knowledge of Seller, threatened
claim against Seller of infringement or misappropriation of any patent, trademark, trade name, servicemark, copyright trade secret or
similar intellectual property which directly relates to the Acquired Interests or the assets of the Company or the Black Rock Entities
and which is owned by any third party and which, in each case, would reasonably be expected to have a Material Adverse Effect.

 

(ii)           The
Company and each of the Black Rock Entities owns or has the valid right to use pursuant to license, sublicense, agreement or permission,
in each case free and clear of all Liens other than Permitted Liens, any intellectual property necessary for it to conduct its business
as currently conducted, other than such intellectual property the absence of which ownership or the right to use would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(iii)          There
is no pending or, to the Knowledge of Seller, threatened claim by Seller against others for infringement or misappropriation of any trademark,
trade name, servicemark, copyright, trade secret or similar intellectual property owned by Seller and which is utilized in the conduct
of the business of the Company or the Black Rock Entities that would reasonably be expected to have a Material Adverse Effect.

 

(t)           Insurance. Schedule
3.01(t) of the Disclosure Schedules contains a true, correct and complete list of all insurance policies as of the date of
this Agreement that insure the assets and properties and business of the Company or the Black Rock Entities or affect or relate to
the ownership of any of the assets and properties the Company or the Black Rock Entities. Seller has delivered to Purchaser detailed
summaries of all the insurance policies set forth on Schedule 3.01(t) of the Disclosure Schedules, all of which are in
full force and effect. None of Seller, the Company or the Black Rock Entities has received any notice with respect to the assets and
properties and business of the Company or the Black Rock Entities from any insurer under any insurance policy applicable to the
assets and properties and business of the Company or the Black Rock Entities disclaiming coverage, reserving rights with respect to
a particular claim or such policy in general or canceling any such policy. All premiums due and payable under all such policies have
been paid and the terms of such policies have been complied with by Seller, the Company and the Black Rock Entities, as applicable,
in all material respects. The insurance maintained by or on behalf of the Company or the Black Rock Entities is adequate to comply
with all Laws and Company Contracts. Except as set forth on Schedule 3.01(t) of the Disclosure Schedules, there are no
pending insurance claims. Seller expects insurance coverage for property damage and business interruption for the Project as
described in the property and casualty policies set forth on Schedule 3.01(t) of the Disclosure Schedules to continue in
all material respects after the Closing Date. Furthermore, at the expiration of such policies, Seller expects the aforementioned
policies to be renewed with terms substantially identical to those described in the policies above.

 

    24

     

    

 

 

(u)          Balance
Sheet. Seller has previously delivered to Purchaser true, correct and complete copies of the most recent unaudited balance sheet (the
 “Balance Sheet”) of the Company and the Black Rock Entities on a consolidated basis for the quarter ended November 30,
2020 (the “Balance Sheet Date”). The Balance Sheet (i) fairly presents, in all material respects, the consolidated
financial position and consolidated results of operations of the Company and the Black Rock Entities, as of the Balance Sheet Date, (ii) has
been prepared in accordance with GAAP consistently applied during the period(s) involved except as otherwise noted therein, subject
to normal and recurring year-end adjustments that have not been and are not expected to be material in amount, and (iii) has
been prepared from the books and records of the Company and the Black Rock Entities.

 

(v)          Absence
of Changes. Except as set forth on Schedule 3.01(v) of the Disclosure Schedules, since the Balance Sheet Date (except
as otherwise indicated in subparagraph (vii) below) until the date of this Agreement, there has not been:

 

(i)           any
repurchase, redemption or other acquisition of any equity interests of the Company or the Black Rock Entities or any interests convertible
into equity interests of the Company or the Black Rock Entities or any other change in the capitalization or ownership of the Company
or the Black Rock Entities, other than as permitted pursuant to the terms and subject to the conditions of Section 5.12(a);

 

(ii)           any
merger of the Company or the Black Rock Entities into or with any other Person, consolidation of the Company or the Black Rock Entities
with any other Person or acquisition by the Company or the Black Rock Entities of all or substantially all of the business or assets of
any Person;

 

(iii)          any
action by the Company or the Black Rock Entities or any commitment entered into by any member of the Company or the Black Rock Entities
with respect to or in contemplation of any liquidation, dissolution, recapitalization, reorganization or other winding up of its business
or operations;

 

(iv)          any
material change in accounting policies or practices (including any change in depreciation or amortization policies) of the Company or
the Black Rock Entities, except as required under GAAP;

 

(v)           any
sale, lease (as lessor), transfer or other disposal of (including any transfers to any of its Affiliates), or mortgage or pledge, or imposition
of any Lien on, any of its assets or properties, or interests therein, other than (x) inventory and personal property sold or otherwise
disposed of in the ordinary course of business, and (y) Permitted Liens;

 

    25

     

    

 

(vi)          any
creation, incurrence, assumption or guarantee, or agreement to create, incur, assume or guarantee any Indebtedness for borrowed money
or entry into any “keep well” or other agreement to maintain the financial condition of another Person into any arrangement
having the economic effect of any of the foregoing (including entering into, as lessee, any capitalized lease obligations as defined in
Statement of Financial Accounting Standards No. 13), other than as permitted pursuant to the terms and subject to the conditions
of Section 5.12(a); or

 

(vii)         any
event, circumstance, condition or change relating or with respect to the Company or the Black Rock Entities that would reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect.

 

(w)         Bank
Accounts. Schedule 3.01(w) of the Disclosure Schedules sets forth the names and locations of banks, trust companies and
other financial institutions at which the Company or the Black Rock Entities maintain bank accounts or safe deposit boxes, in each case
listing the type of account, the account number, and the names of all Persons authorized to draw thereupon or who have access thereto.

 

 (x)          Regulatory Status.

 

(i)           The
Project Company is an “exempt wholesale generator,” as such term is defined in PUHCA. As an “exempt wholesale generator,”
the Project Company is exempt from PUHCA to the extent provided for in 18 C.F.R. § 366.7(e).

 

(ii)           Company
and each of the Black Rock Entities other than the Project Company will become a “holding company,” as defined in PUHCA, solely
with respect to its direct or indirect, as applicable, ownership of the Project Company and, therefore, Company and each of the Black
Rock Entities other than the Project Company is entitled to the exemptions and waivers set forth in at 18 C.F.R. § 366.3(a). The
Project Company is not a “holding company.”

 

(iii)          As
of the Closing Date, Purchaser, solely by virtue of its indirect ownership of the Project Company, will not be subject to, or will not
lose the exemption from, (A) FERC regulation as an “electric utility company,” a “public-utility company,”
or a “holding company,” or an “affiliate” or “subsidiary company” as defined under PUHCA, (B) as
 “public utility” under the FPA, and (C) PSC regulation as a “public utility”.

 

(iv)          Neither
the Company nor any of the Black Rock Entities is subject to regulation as a “public utility” as that term is defined under
FPA Section 201(e), provided, however, that the Project Company shall become a “public utility” under the
FPA upon the effectiveness of its MBR Authorization.

 

(y)          Support
Obligations. Schedule 3.01(y) of the Disclosure Schedules sets forth a true and complete list of all the Support Obligations.

 

(z)           Disclosures.
To the Knowledge of Seller, no representation or warranty by Seller contained in this Agreement, and no statement contained in the Disclosure
Schedules or any other document, certificate or other instrument delivered to or to be delivered by or on behalf of Seller, the Company
or the Black Rock Entities contains, or will contain any untrue statement of a material fact or omits or will omit to state any material
fact necessary, in light of the circumstances under which it was or will be made, in order to make the statements herein or therein not
misleading when taken as a whole.

 

(aa)        Reports.
Seller has made available to Purchaser true, complete and correct copies of all Reports delivered pursuant to the Tax Equity Agreement
as of the Execution Date. As of the Closing Date, Seller has made available to Purchaser true, correct and complete
copies of all Reports that were not made available to Purchaser on the Execution Date.

 

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(bb)        Projections. Seller
has prepared the financial projections for the Company and the Black Rock Entities, which are reflected in the Base Case Model (the “Projections”),
in good faith. To the Knowledge of Seller, the Projections (i) are based on reasonable assumptions, (ii) are consistent
in all material respects with Prudent Industry Practices, and (iii) reflect all material payments to be made by the Company
or the Black Rock Entities to Sellers or its Affiliates.

 

(cc)        No Other Warranties.
EXCEPT FOR THE WARRANTIES SET FORTH HEREIN, THE ACQUIRED INTERESTS AND
THE CLASS A INTERESTS ARE BEING SOLD HEREUNDER ON AN “AS IS,” “WHERE IS” BASIS. THE WARRANTIES
SET FORTH HEREIN ARE EXCLUSIVE AND ARE IN LIEU OF ALL OTHER WARRANTIES, WHETHER STATUTORY, WRITTEN OR ORAL, EXPRESS OR IMPLIED; SELLER
PROVIDES NO OTHER WARRANTIES WITH RESPECT TO THE ACQUIRED INTERESTS, THE
CLASS A INTERESTS, THE COMPANY, THE PROJECT, THE BLACK ROCK ENTITIES, THE ASSETS OF THE COMPANY, OR THE ASSETS OF THE
BLACK ROCK ENTITIES, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND WARRANTIES ARISING
FROM COURSE OF DEALING OR USAGE OF TRADE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 3.01,
SELLER MAKES NO REPRESENTATION OR WARRANTY TO PURCHASER WITH RESPECT TO ANY FINANCIAL PROJECTIONS, FORECASTS OR FORWARD LOOKING STATEMENTS
OF ANY KIND OR NATURE WHATSOEVER RELATING TO THE COMPANY, THE PROJECT, THE BLACK ROCK ENTITIES, THE ASSETS OF THE COMPANY, THE ASSETS
OF THE BLACK ROCK ENTITIES,
THE CLASS A INTERESTS OR THE ACQUIRED INTERESTS.

 

3.02.      Representations
and Warranties with Respect to Purchaser. Purchaser hereby represents to Seller as of the Execution Date and,
the Closing Date and, solely with respect to Section 3.02(a) (Existence),
Section 3.02(b) (Authority), Section 3.02(g) (Purchase for Investment) and Section 3.02(k) (Due
Diligence) (collectively, the “Purchaser Second Closing Representations”), the Second Closing Date, as follows;
provided that any representation and warranty set forth in this Section 3.02 and expressly stated to be made only as
of a specified date shall be made solely as of such date:

 

(a)          Existence.
Purchaser is a limited liability company duly formed, validly existing and in good standing under the Laws of the State of Delaware.
Purchaser has full power and authority to execute and deliver this Agreement and each other agreement required to be executed by it pursuant
to the terms hereof, to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby
and to own or lease its assets and properties and to carry on its business as currently conducted.

 

(b)          Authority.
All actions or proceedings necessary to authorize the execution and delivery by Purchaser of this Agreement, and the performance by
Purchaser of its obligations hereunder, have been duly and validly taken. This Agreement has been duly and validly executed and delivered
by Purchaser and constitutes legal, valid and binding obligation of Purchaser enforceable against Purchaser in accordance with its terms,
except as the same may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, arrangement, moratorium or other similar
Laws relating to or affecting the rights of creditors generally, or by general equitable principles.

 

(c)          No
Consent. Except as disclosed on Schedule 3.02(c) of the Disclosure Schedules, and except as would not, individually
or in the aggregate, reasonably be expected to adversely affect the ability of Purchaser to consummate the transactions contemplated by
this Agreement or to perform its obligations hereunder, the execution, delivery
and performance by Purchaser of this Agreement does not require Purchaser to obtain any consent, approval or action of or give any notice
to any Person as a result or under any terms, conditions or provisions of any Contract by which it is bound.

 

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(d)           No
Conflicts. The execution, delivery and performance of this Agreement by Purchaser does not and will not (i) conflict
with, result in a breach of, or constitute a default under, Purchaser’s Constitutive Documents, or any material Contract to which
Purchaser is a party, (ii) result in the creation of any Lien upon any of the assets or properties of Purchaser or (iii) accelerate
or modify, or give any party the right to accelerate or modify, the time within which, or the terms under which, any duties or obligations
are to be performed by Purchaser, or any rights or benefits are to be received by any Person, under any material Contract to which Purchaser
is a party.

 

(e)           Permits
and Filings. Except as disclosed on Schedule 3.02(e) of the Disclosure Schedules, no Permit is required on the part of
Purchaser in connection with the execution, delivery and performance of this Agreement, the consummation of the transactions contemplated
hereby or thereby or any borrowing or other action by Purchaser or any of its Affiliates in connection with obtaining or maintaining sufficient
financing to provide the payment of the Purchase Price.

 

(f)            Legal
Proceedings. There are no Actions or Proceedings pending or, to the knowledge of Purchaser, threatened as of the date of this Agreement
against Purchaser that affects Purchaser or any of its assets or properties which would reasonably be expected to result in the issuance
of an Order restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated
by this Agreement.

 

(g)           Purchase
for Investment. Purchaser (i) is acquiring the Acquired Interests and
as of the Second Closing Date, the Class A Interests, for its own account and not with a view to distribution, (ii)
is an “accredited investor” as such term is defined in Rule 501(a) under the Securities Act of 1933,
(iii) has sufficient knowledge and experience in financial
and business matters so as to be able to evaluate the merits and risk of an investment in the Acquired Interests and the
Class A Interests and is able financially to bear the risks thereof, and (iv) understands that the
Acquired Interests and
the Class A Interests will, upon purchase, be characterized as “restricted securities” under state and
federal securities laws and that under such laws and applicable regulations the Acquired Interests and
the Class A Interests may be resold without registration under such laws only in certain limited circumstances.
Purchaser agrees that it will not sell, convey, transfer or dispose of the Acquired Interests or
the Class A Interests, unless such transaction is made pursuant to an effective registration statement under
applicable federal and state securities laws or an exemption from registration requirements of such securities laws.

 

(h)           Brokers.
Except as set forth on Schedule 3.02(h) of the Disclosure Schedules, no Person has any claim against Purchaser for a finder’s
fee, brokerage commission or similar payment directly or indirectly in connection with the transactions contemplated by this Agreement.

 

(i)            Governmental
Approvals. Except as set forth on Schedule 3.02(i) of the Disclosure Schedules or which have already been obtained, no
Governmental Approval is required on the part of Purchaser in connection with the execution, delivery and performance of this Agreement
or the consummation of the transactions contemplated hereby.

 

(j)            Compliance
with Laws. Purchaser is not in material violation of any Law except where any such material violation would not in the aggregate reasonably
be expected to have a material adverse effect on Purchaser’s ability to satisfy its obligations under this Agreement.

 

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(k)           Due
Diligence. Purchaser, or its Representatives, have had the opportunity to conduct all such due diligence investigations of the Acquired
Interests, the Class A Interests, the Company, the Black Rock
Entities and the Project as they deemed necessary or advisable in connection with entering into this Agreement and the related documents
and the transactions contemplated hereby and thereby. PURCHASER HAS RELIED SOLELY ON ITS INDEPENDENT INVESTIGATION AND THE REPRESENTATIONS
AND WARRANTIES MADE BY SELLER IN SECTION 3.01 IN MAKING ITS DECISION TO ACQUIRE THE ACQUIRED INTERESTS AND
THE CLASS A INTERESTS AND HAS NOT RELIED ON ANY OTHER STATEMENTS OR ADVICE FROM SELLER OR ITS REPRESENTATIVES.

 

ARTICLE 4 

CONDITIONS PRECEDENT

 

4.01.      Closing
Date Conditions Precedent. The obligations of the Parties to sell and purchase, respectively, the Acquired Interests are subject
to the fulfillment (or waiver by the applicable Party), at or before the Closing, by the applicable Party of each of the following conditions:

 

(a)           Tax
Equity Funding. The Tax Equity Funding Date shall have occurred.

 

(b)           Approvals/Consents.
All consents of Purchaser specified on Schedule 3.02(c) of the Disclosure Schedules and all approvals of Purchaser specified
in Schedule 3.02(i) of the Disclosure Schedules shall have been obtained by the Purchaser; and all Seller Approvals and Seller
Consents shall have been obtained by the Seller and shall in each case be in full force and effect.

 

(c)           Litigation.
No Order shall have been entered which restrains, enjoins or otherwise prohibits or makes illegal the consummation of any of the transactions
contemplated by this Agreement and no Action or Proceeding shall have been instituted before any Governmental Authority of competent jurisdiction
seeking to restrain, enjoin or otherwise prohibit or make illegal the consummation of any of the transactions contemplated by this Agreement.

 

(d)           Seller
Representations and Warranties. The representations and warranties made by Seller in this Agreement shall be true and correct in all
material respects (except for any of such representations and warranties that are qualified by materiality, including by reference to
Material Adverse Effect, which shall be true and correct in all respects) on and as of the Closing Date as though such representations
and warranties were made on and as of the Closing Date, except to the extent such representations and warranties expressly relate to an
earlier date, in which case as of such earlier date.

 

(e)           Seller
Covenants. The covenants and obligations required by this Agreement to be performed or complied with by Seller at or before the Closing
Date have been duly performed or complied with in all material respects.

 

(f)            Material
Adverse Effect. There will not exist on the Closing Date any condition or fact that, individually or in the aggregate, has or would
reasonably be expected to result in a Material Adverse Effect.

 

(g)           Purchaser
Representations and Warranties. The representations and warranties made by Purchaser in this Agreement shall be true and correct in
all material respects (except for any of such representations and warranties that are qualified by materiality, which shall be true and
correct in all respects) on and as of the Closing Date as though such representations and warranties were made on and as of the Closing
Date, except to the extent such representations and warranties expressly relate to an earlier date, in which case as of such earlier date.

 

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(h)           Purchaser
Covenants. The covenants and obligations required by this Agreement to be performed or complied with by Purchaser at or before the
Closing Date have been duly performed or complied with in all material respects.

 

(i)            Withholding
Certificate. Seller shall have delivered to the Purchaser a certificate in form and substance reasonably satisfactory to the Purchaser,
certifying that the transactions contemplated by this Agreement are exempt from withholding under Code Sections 1445 and 1446(f).

 

(j)            HASI
Purchase Agreement. HASI shall, simultaneously with or prior to the Closing, have closed the acquisition of the Class B Units
(other than the Acquired Interests) pursuant to the HASI Purchase Agreement.

 

(k)           Drop-Down
Assignment. Each of Purchaser and the Master JV HoldCo shall have delivered executed counterparts to the Drop Down Assignment &
Assumption Agreement, to be held in escrow and released immediately following the Closing.

 

(l)            [***]

 

(m)          [Reserved].

 

(n)           Certificates;
Other Ancillary Documents. Seller shall have delivered to Purchaser (i) a certificate, dated as of the Closing Date and
executed by an authorized officer of Seller substantially in the form and to the effect of Exhibit B; (ii) a certificate,
dated as of the Closing Date and executed by the Secretary of Seller substantially in the form and to the effect of Exhibit C;
(iii) a duly executed counterpart to the Certain Seller Proceeds Agreement,
to be held in escrow and released immediately following the Drop Down;[intentionally
omitted] (iv) the Title Policy consistent with the Title Proforma in all material respects; and (v) copies
of all recorded documents referred to, or listed as exceptions to title in, the Title Policy and a copy of all other material documents
affecting the Real Property Rights. Purchaser shall have delivered to Seller (A) a certificate, dated as of the Closing Date
and executed by an authorized officer of Purchaser substantially in the form and to the effect of Exhibit D; (B) a
certificate, dated as of the Closing Date and executed by the Secretary of Purchaser substantially in the form and to the effect of Exhibit E;
(C) an executed counterpart to the Build-Out Agreement executed by the Project Company, TE HoldCo, and Clearway Energy Operating
LLC, to be held in escrow and released immediately following the Closing; and (D) an executed
counterpart to the Certain Seller Proceeds Agreement, executed by [intentionally
omitted].

 

4.02.      Second
Closing Date Conditions Precedent. The obligations of the
Parties to sell and purchase, respectively, the Class A Interests are subject to the fulfillment (or waiver by the applicable Party),
at or before the Second Closing, by the applicable Party of each of the following conditions:

 

(a)           Litigation.
No Order shall have been entered which restrains, enjoins or otherwise prohibits or makes illegal the consummation of the Second Closing
and no Action or Proceeding shall have been instituted before any Governmental Authority of competent jurisdiction seeking to restrain,
enjoin or otherwise prohibit or make illegal the consummation of the Second Closing.

 

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(b)           Seller
Representations and Warranties. The Seller Second Closing Representations shall be true and correct in all material respects (except
for any of such representations and warranties that are qualified by materiality, including by reference to Material Adverse Effect, which
shall be true and correct in all respects) on and as of the Second Closing Date as though such representations and warranties were made
on and as of the Second Closing Date, except to the extent such representations and warranties expressly relate to an earlier date, in
which case as of such earlier date.

 

(c)           Purchaser
Representations and Warranties. The Purchaser Second Closing Representations shall be true and correct in all material respects (except
for any of such representations and warranties that are qualified by materiality, which shall be true and correct in all respects) on
and as of the Second Closing Date as though such representations and warranties were made on and as of the Second Closing Date, except
to the extent such representations and warranties expressly relate to an earlier date, in which case as of such earlier date.

 

(d)           Apex
Purchase Agreement. Seller shall, on or prior to the Second Closing Date, have closed the acquisition of the Class A Units pursuant
to the Apex Purchase Agreement.

 

(e)           HASI
Purchase Agreement. HASI shall, simultaneously with or prior to the Second Closing, have closed the acquisition of the Class A
Units (other than the Class A Interests) pursuant to the HASI Purchase Agreement.

 

(f)           Drop-Down
Assignment. Each of Purchaser and the Master JV HoldCo shall
have delivered executed counterparts to the Drop Down Assignment & Assumption Agreement, to be held in escrow and
released immediately following the Drop DownSecond
Closing.

 

(g)           [***]

 

(h)           Certificates;
Other Ancillary Documents. Seller shall have delivered to Purchaser a certificate, dated as of the Second Closing Date and executed
by an authorized officer of Seller substantially in the form and to the effect of Exhibit K. Purchaser shall have delivered
to Seller a certificate, dated as of the Second Closing Date and executed by an authorized officer of Purchaser substantially in the form
and to the effect of Exhibit L.

 

ARTICLE 5

 CERTAIN COVENANTS

 

5.01.      Regulatory
and Other Permits. Seller shall, or shall cause the Company and the Black Rock Entities to, as promptly as practicable, use
commercially reasonable efforts to make all filings with all Governmental Authorities and other Persons required by Seller or its
Affiliates to consummate the transactions contemplated hereby and shall use commercially reasonable efforts to obtain as promptly as
practicable all Permits and all consents, approvals or actions of all Governmental Authorities and other Persons necessary to
consummate the transactions contemplated hereby, including the Seller Approvals and Seller Consents. Without limiting the generality
of the foregoing, prior to the first sale of test power from the Project, Project Company shall have obtained MBR Authorization and
EWG status. Seller shall promptly provide Purchaser with a copy of any filing, order or other document delivered to or received from
any Governmental Authority or other Person relating to the obtaining of any such Permits, consents, approvals, or actions of
Governmental Authorities and other Persons. Seller shall provide a status report to Purchaser upon the reasonable request of
Purchaser. Seller shall use commercially reasonable efforts not to cause its Representatives, or the Company, the Black Rock
Entities or other Affiliates of Seller or any of their respective Representatives, to take any action which would reasonably be
expected to materially and adversely affect the likelihood of any approval or consent required to consummate the transactions
contemplated hereby. Seller shall bear its own costs and legal fees contemplated by this Section 5.01.

 

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5.02.       Access
to Information. From the Execution Date and continuing until the earlier of the termination of this Agreement or the Closing Date
(the “Interim Period”), Seller shall at all reasonable times and upon reasonable prior notice during regular business
hours make the properties, assets, books and records pertaining to the Company and the Black Rock Entities, the Acquired Interests or
the Project reasonably available for examination, inspection and review by Purchaser and its Representatives; provided, however,
that (a) Purchaser and its Representatives shall be subject to customary confidentiality undertakings with respect to any
such information or access made available, (b) for any site visit or access, Purchaser and its Representatives will agree
to comply with all safety and other policies and procedures disclosed to it while conducting such visit or access, and (c) Purchaser’s
and its Representatives’ inspections and examinations shall not unreasonably disrupt the normal operations of Seller, the Company,
the Black Rock Entities or the Project and shall be at Purchaser’s sole cost and expense; and provided further that neither
Purchaser, nor any of its Affiliates or Representatives, shall conduct any intrusive environmental site assessment or activities with
respect to the Company or the Black Rock Entities or their properties without the prior written consent of Seller.

 

5.03.       Notification
of Certain Matters. Seller shall have the right (but not the obligation) to deliver to Purchaser, not later than ten (10) Business
Days prior to the Closing Date, a supplement to the Disclosure Schedules (the “Closing Date Schedule Supplement”) to
disclose any matter arising after the date hereof, that, if existing at or arising prior to the date hereof, would have been required
to be set forth in the Disclosure Schedules for the representations and warranties of Seller set forth herein to be true and correct as
of the date hereof, and the Disclosure Schedules shall be deemed to be modified, supplemented and amended to include the items listed
in the Closing Date Schedule Supplement for all purposes hereunder, other than to cure any breach or inaccuracy of any representation
or warranty of Seller contained in this Agreement for purposes of Article 6; provided, that upon the exercise of any
Land Option by the applicable counterparty, Seller shall be entitled to supplement Schedule 3.01(n)(i) of the Disclosure Schedules
with respect to the Real Property Right Seller acquired in accordance with such Land Option (each such update, a “Land Option
Schedule Supplement”), and the Disclosure Schedules shall be deemed to be modified, supplemented and amended to include the
items listed in such Land Option Schedule Supplement for all purposes hereunder. If any item set forth in the Closing Date Schedule Supplement
discloses any event, circumstance or development that, individually or in the aggregate when taken together with other previously disclosed
events, circumstances or developments, would prevent any of the conditions set forth in Section 4.01 (other than those conditions
related to the bring-down of representations and warranties) to be satisfied, then Purchaser may terminate this Agreement by delivering
notice of termination to Seller within ten (10) Business Days of its receipt of the Closing Date Schedule Supplement; provided
that if Purchaser does not deliver such notice within such ten (10) Business Day period, then Purchaser shall be deemed to have
irrevocably waived its right to terminate this Agreement with respect to such item and its right to not consummate the transactions contemplated
hereby with respect to such item, in each case, after giving effect to such item under any of the conditions set forth in Section 4.01,
but shall not be deemed to have irrevocably waived its right to indemnification under Section 6.01 with respect to such item.

 

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5.04.      Conduct of Business.

 

(a)          During
the Interim Period, Seller shall cause the Company and each Black Rock Entity to operate and carry on its business in the ordinary
course and substantially as operated prior to the date of this Agreement. Without limiting the foregoing, Seller shall cause the
Company and each Black Rock Entity to perform in all material respects the Company Contracts to which the Company or such Black Rock
Entity is a party and use commercially reasonable efforts consistent with good business practice to preserve the goodwill of the
suppliers, contractors, lenders, Governmental Authorities, licensors, customers, distributors and others having business relations
with the Company and the Black Rock Entities.

 

(b)          Without
limiting Section 5.04(a), except (x) as set forth on Schedule 5.04(b) of the Disclosure Schedules,
(y) as would not be reasonably likely to cause a Major Project Change (with respect to clauses (vi), (vii), (ix) and
(xiv) of this Section 5.04(b) only) or (z) with the express written approval of Purchaser, such approval
not to be unreasonably withheld or delayed, during the Interim Period, Seller shall cause the Company and each Black Rock Entity not to:

 

(i)           transfer
any of the Acquired Interests to any Person or create or suffer to exist any Lien upon the Acquired Interests other than Permitted Liens
set forth in clauses (f) and

 

(g) of the definition thereof;

 

(ii)           issue,
grant, deliver or sell or authorize or propose to issue, grant, deliver or sell, or purchase or propose to purchase, any of its equity
securities (other than the sale and delivery of the Acquired Interests pursuant to this Agreement and the issuance of membership interests
in TE Holdco pursuant to the Tax Equity Agreement), options, warrants, calls, rights, exchangeable or convertible securities, commitments
or agreements of any character, written or oral, obligating it to issue, deliver, sell, repurchase or redeem, or cause to be issued, delivered,
sold, repurchased or redeemed, any of its equity securities (other than this Agreement and the Tax Equity Agreement);

 

(iii)          declare,
set aside or pay any dividends on or make any other distributions in respect of the Acquired Interests, or combine, split or reclassify
any of the Acquired Interests or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution
for any of the Acquired Interests, other than a distribution by the Company to Seller of up to Thirty- Six Million Dollars ($36,000,000)
from the proceeds received by Class B HoldCo from the closing of the debt financing under the Financing Agreement;

 

(iv)          take
any action or enter into any commitment with respect to or in contemplation of any liquidation, dissolution, recapitalization, reorganization,
or other winding up of business or operations;

 

 (v)           open or establish any new accounts with financial institutions;

 

(vi)          make
any material change in its business or operations, except such changes as may be required to comply with any applicable Law;

 

(vii)         make
any material capital expenditures (or enter into any Contracts in respect of material capital expenditures) other than as contemplated
by the Company Contracts;

 

(viii)        merge
Company or any Black Rock Entity into or with any other Person or consolidate Company or any Black Rock Entity with any other Person;

 

(ix)          enter
into any Contract for the purchase of real property or any interests therein (other than upon the exercise of a Land Option by the applicable
counterparty);

 

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(x)           acquire,
or enter into any Contract for any acquisitions (by merger, consolidation, or acquisition of stock or assets or any other business combination),
of any Person or business or any division thereof;

 

(xi)          sell,
lease (as lessor), transfer or otherwise dispose of (including any transfers to any of its Affiliates), or mortgage or pledge, or impose
or suffer to be imposed any Lien on, any of its assets or properties, other than (x) inventory and personal property sold or otherwise
disposed of in the ordinary course of business, and (y) Permitted Liens;

 

(xii)         create,
incur, assume or guarantee, or agree to create, incur, assume or guarantee any Indebtedness for borrowed money or enter into any “keep
well” or other agreement to maintain the financial condition of another Person into any arrangement having the economic effect of
any of the foregoing (including entering into, as lessee, any capitalized lease obligations as defined in Statement of Financial Accounting
Standards No. 13), other than any Indebtedness arising from the Financing Agreement or any of the Financing Documents;

 

(xiii)        make
any loans or advances to any Person, except in the ordinary course of business consistent with past practice;

 

(xiv)        enter
into any Contract that would constitute a Company Contract or amend, modify, grant a waiver in respect of, cancel or consent to the termination
of any Company Contract other than any amendment, modification or waiver which is not material to such Company Contract and is otherwise
in the ordinary course of business;

 

(xv)         enter
into or adversely amend, modify or waive any rights under, in each case, in any material respect, any material Contract (or series of
related Contracts) with Seller or any Affiliate of Seller other than the entry into or amendment, modification, or waiver of any such
Contracts on an arms’ length basis which are not in the aggregate materially adverse to the business of Company or any Black Rock
Entity;

 

(xvi)        make
any material change in accounting policies or practices (including any change in depreciation or amortization policies) of Company or
any Black Rock Entity, except as required under Seller’s GAAP or revalue any of the Company’s or any Black Rock Entity’s
assets;

 

(xvii)       make
or change any material Tax election, change an annual accounting period, adopt or change any accounting method with respect to Taxes,
file any amended Tax Return, enter into any closing agreement, settle or compromise any proceeding with respect to any Tax claim or assessment,
surrender any right to claim a refund of Taxes, consent to any extension or waiver of the limitation period applicable to any material
Tax claim or assessment relating to Company or the Black Rock Entities, or take any other similar action relating to the filing of any
Tax Return or the payment of any Tax;

 

(xviii)      submit
a self-report or mitigation plan to FERC, NERC or the applicable Regional Entity in connection with the violation or possible violation
of an applicable NERC reliability standard without first notifying Purchaser and providing information regarding the violation or possible
violation;

 

(xix)        pay,
discharge, settle or satisfy any claims, liabilities or obligations prior to the same being due in excess of $50,000 in the aggregate
other than as due and payable in the ordinary course under material Contracts;

 

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 (xx)         hire any employees or adopt any Employee Plans;

 

 (xxi)        enter into any joint venture;

 

(xxii)       fail
to maintain insurance coverage substantially equivalent to its insurance coverage as in effect on the date hereof; or

 

 (xxiii)      otherwise make any commitment to do any of the foregoing in this

 

Section 5.04.

 

Notwithstanding the foregoing,
(a) Seller may permit the Black Rock Entities to take commercially reasonable actions with respect to emergency situations so long
as Seller shall, upon receipt of notice of any such actions, promptly inform Purchaser of any such actions taken outside the ordinary
course of business and (b) upon the exercise of a Land Option by the applicable counterparty, Seller may permit or cause one or more
of the Black Rock Entities to enter into a Contract with such counterparty to acquire the applicable Real Property Right in accordance
with the terms of the Land Option.

 

(c)           Notwithstanding anything
to the contrary in this Section 5.04, an action taken by Seller or any of the Black Rock Entities in accordance with Section 5.12
shall in no event be deemed a breach of this Section 5.04.

 

5.05.      Fulfillment
of Conditions. Each Party shall take all commercially reasonable steps necessary or desirable, and proceed diligently and in good
faith to satisfy each other condition to the obligations of the other Party contained in this Agreement.

 

5.06.      Further
Assurances. During the Interim PeriodFrom
the Execution Date until the earlier of the termination of this Agreement or the Second Closing Date, each Party shall use
its commercially reasonable efforts to execute and deliver, or cause to be executed and delivered, all such documents and instruments
and shall take, or cause to be taken, all such further or other actions as may be necessary to consummate the transactions contemplated
by this Agreement, including such actions at its expense as are necessary in connection with obtaining or providing any third-party consents
or notices and all Governmental Approvals required to be obtained by Seller. During the Interim PeriodFrom
the Execution Date until the earlier of the termination of this Agreement or the Second Closing Date, each Party shall cooperate
with the other Party and provide any information regarding such Party necessary to assist the other Party in making any filings or applications
or providing notices required to be made with any Governmental Authority. Notwithstanding anything to the contrary contained in this Section 5.06,
if the Parties are in an adversarial relationship in litigation or arbitration, the furnishing of any documents or information in accordance
herewith shall be solely subject to applicable rules relating to discovery and the remainder of this Section 5.06 shall
not apply.

 

5.07.      Purchaser’s Substitute Support
Obligations.

 

(a)           Purchaser
acknowledges that Seller and certain Affiliates have provided certain credit support pursuant to the support obligations and related agreements
described on Schedule 3.01(y) of the Disclosure Schedules (the “Support Obligations”). From the Execution
Date and continuing until the earlier of the termination of this Agreement or the replacement and/or release of each Support Obligation,
Purchaser shall use commercially reasonable efforts to negotiate a replacement of each Support Obligations (each, a “Substitute
Support Obligation”) with the beneficiary thereof and/or to effect the complete and unconditional release of such Support Obligation
in a manner reasonably satisfactory to Purchaser, Seller and the beneficiary thereof, including by means of a letter of credit, escrow,
posting a bond or cash deposit or other arrangements. The effective date of the Substitute Support
Obligations shall be no earlier than the Closing Date.

 

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(b)           From
the Execution Date and continuing until the earlier of (i) the termination of this Agreement, (ii) the effective
date of the applicable Substitute Support Obligation, and (iii) the date such Support Obligation is no longer required to
be maintained under the applicable Company Contract, Seller shall, and shall cause its Affiliates to, (x) maintain each Support
Obligation in full force and effect in accordance with the requirements under the applicable Company Contract, (y) perform
all of its obligations under each Support Obligation and (z) not amend, modify, grant a waiver in respect of, cancel or consent
to the termination of such Support Obligation; provided, however, that solely to the extent that a Support Obligation cannot
be released, terminated or replaced by Purchaser at or prior to the Closing (a “Retained Support Obligation”), subject
to Section 5.07(c) below, Seller shall, and shall cause its Affiliates to, perform its obligations with respect to such
Retained Support Obligation.

 

(c)           To
the extent there is a Retained Support Obligation, Purchaser shall (i) indemnify and hold harmless Seller and its Affiliates
(as applicable) from and against any and all Losses that may be suffered, incurred or sustained by any of them or to which any of them
become subject, resulting from a claim on any such Retained Support Obligation after the Closing Date and arising out of or relating to
the business, operations, properties, assets or obligations of the Company or the Black Rock Entities conducted, existing or arising after
the Closing (including as a result of any draw or demand for or making of any payment by Seller or any such Affiliate of Seller under
any Support Obligation), (ii) diligently continue to seek the release, termination and replacement of such Support Obligation,
and (iii) reimburse Seller or its Affiliates (as applicable) for the actual out-of-pocket costs of, and fees paid by, Seller
or its Affiliates in maintaining such Retained Support Obligation accruing at any time after the Closing and until such time as such Retained
Support Obligation is replaced; provided that Purchaser’s indemnification obligations under clause (i) shall not affect
Seller’s indemnification obligations under Section 5.07(d) or Section 6.01.

 

(d)           Following
the replacement of a Support Obligation by Purchaser for the Project pursuant to a Substitute Support Obligation, Seller shall indemnify
and hold harmless Purchaser and its Affiliates (as applicable) from and against any and all Losses that may be suffered, incurred or sustained
by any of them or to which any of them become subject, resulting from a claim on any such Substitute Support Obligation and arising out
of or relating to the business, operations, properties, assets or obligations of the Company or the Black Rock Entities conducted, existing
or arising at or prior to the Closing (including as a result of any draw or demand for or making of any payment by Purchaser or any such
Affiliate of Purchaser under any Substitute Support Obligation).

 

5.08.      Tax Matters.

 

(a)           All
sales, use transfer, controlling interest transfer, recording, stock transfer, real property transfer, value-added and other similar Taxes
and fees (“Transfer Taxes”), if any, arising out of or in connection with the consummation of the transactions contemplated
by this Agreement shall be shared equally by Purchaser and Seller. Tax Returns that must be filed in connection with such Transfer Taxes
shall be prepared and filed by the Party primarily or customarily responsible under applicable local Law for filing such Tax Returns,
and such Party will use commercially reasonable efforts to provide such Tax Returns to the other Party at least ten (10) business
days prior to the date such Tax Returns are due to be filed.

 

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(b)           All
real property Taxes, personal property Taxes and similar obligations of the Company and Black Rock Entities imposed by any
Governmental Authority that are due or become due for Tax periods within which the Closing Date occurs shall be apportioned between
Seller for the pre-Closing Date period (which shall include the Closing Date), on the one hand, and the Company (or the applicable
Black Rock Entity) for the post-Closing Date period, on the other hand, as of the Closing Date, based upon the actual number of days
of the Tax period that have elapsed before and after the Closing Date, and any income Taxes imposed on the Company and the Black
Rock Entities shall be allocated between the pre- Closing Date period and the post-Closing Date period as though a taxable year of
the Company and the Black Rock Entities (as applicable) has ended on (and includes) the Closing Date (collectively, the
 “Apportioned Obligations”). Seller shall be responsible for the portion of such Apportioned Obligations
attributable to the period ending on (and including) the Closing Date. The Company (or the applicable Black Rock Entity) shall be
responsible for the portion of such Apportioned Obligations attributable to the period beginning after the Closing Date. Each Party
shall cooperate in assuring that Apportioned Obligations that are the responsibility of Seller pursuant to the preceding sentences
are paid by Seller, and that Apportioned Obligations that are the responsibility of the Company (or the applicable Black Rock
Entity) pursuant to the preceding sentence shall be paid by the Company (or the applicable Black Rock Entity). If any refund, rebate
or similar payment is received by the Company or the Black Rock Entities for any real property Taxes, personal property Taxes or
similar obligations referred to above that are Apportioned Obligations, such refund shall be apportioned between Seller and the
Company (or the applicable Black Rock Entity) as aforesaid on the basis of the obligations of the Company and the Black Rock
Entities during the applicable Tax period. Any refund, rebate or similar payment received by the Company or a Black Rock Entity for
any income Tax or Transfer Tax (other than Transfer Taxes governed under Section 5.08(a)) attributable to the
pre-Closing Date period, as determined above, shall be for the benefit of Seller; and any such refund, rebate or similar payment
attributable to the post-Closing Date period, as determined above, shall be for the benefit of the Company (or the applicable Black
Rock Entity).

 

(c)           For
any Taxes with respect to which the taxable period of the Company or the Black Rock Entities (as applicable) ends on or before the Closing
Date, Seller shall, at its sole cost and expense, timely prepare and file with the appropriate authorities all Tax Returns required to
be filed by the Company and the Black Rock Entities (as applicable), and pay or cause to be paid all Taxes shown to be due thereon. After
the Closing Date, the Company shall, at its sole cost and expense, timely prepare and file, or cause to be timely prepared and filed,
with the appropriate authorities all other Tax Returns required to be filed by the Company and the Black Rock Entities, as applicable,
and pay all Taxes shown to be due thereon.

 

(d)           Seller
and Purchaser shall reasonably cooperate, and shall cause their respective Affiliates, employees and agents reasonably to cooperate, in
preparing and filing all Tax Returns of the Company and applicable Black Rock Entities, including maintaining and making available to
each other all records that are necessary for the preparation of any Tax Returns that the Party is required to file under this Section 5.08,
and in resolving all Actions or Proceedings, and audits or examinations with respect to such Tax Returns.

 

5.09.      No
Solicitation. Until the Closing, Seller shall not, and shall not authorize or permit the Company, the Black Rock Entities, any
of its or their Affiliates or any of its or their Representatives to, directly or indirectly, (a) encourage, solicit, initiate,
facilitate or continue inquiries regarding an Acquisition Proposal, (b) enter into discussions or negotiations with, or provide
any information to, any Person concerning a possible Acquisition Proposal or (c) enter into any agreements or other instruments
(whether or not binding) regarding an Acquisition Proposal. Seller shall immediately cease and cause to be terminated, and shall cause
the Company, the Black Rock Entities, any of its and their Affiliates and all of its and their Representatives to immediately cease and
cause to be terminated, all existing discussions or negotiations with any Persons conducted heretofore with respect to, or that could
lead to, an Acquisition Proposal. For purposes hereof, “Acquisition Proposal” shall mean (other than with respect to
the transactions contemplated by the Tax Equity Agreement, the Financing Documents and the HASI Purchase Agreement) any inquiry, proposal
or offer from any Person concerning (i) a merger, consolidation, liquidation, recapitalization, share exchange or other business
combination transaction involving the Company or the Black Rock Entities, (ii) the
issuance or acquisition of equity securities of the Company or the Black Rock Entities, or (iii) the sale, lease, exchange
or other disposition of any significant portion of the Company’s or the Black Rock Entities’ properties or assets.

 

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5.10.      [***]

 

5.11.      Purchaser
Parent Guaranty. Purchaser shall, concurrently with the execution and delivery of this Agreement, cause to be executed and delivered
to Seller the Purchaser Parent Guaranty.

 

5.12.      Post-Execution Date Documents.

 

(a)          As
soon as practicable (but, with respect to the Financing Documents, in no event later than January 29, 2021), Seller shall (or shall
cause the Company and/or applicable Black Rock Entity to) enter into the Financing Documents and the Ancillary Documents on the following
terms and conditions:

 

(i)           With respect to the
Financing Agreement and the Tax Equity Agreement: (A) to the extent such Financing Document is in a form that deviates
in any material respect from the latest form of such Financing Document provided to Purchaser prior to the Execution Date (provided
that, for the avoidance of doubt, any deviation in those certain conditions to the obligations of the Tax Equity Investor set forth
in Article V of such form of Tax Equity Agreement shall be deemed a material deviation), enter into such Financing Document
only upon the prior written consent of Purchaser; or (B) to the extent such Financing Document is not otherwise subject
to the terms and conditions of the foregoing clause (A), enter into such Financing Document without the necessity of
Purchaser’s prior consent in any respect; and

 

(ii)           With
respect to each Ancillary Document: (A) to the extent such Ancillary Document is (1) material to the Company and/or
applicable Black Rock Entity and a form of such Ancillary Document has
not been provided to Purchaser prior to the Execution Date or (2) in a form thatis
not designated with an asterisk on Schedule 1.03 or (2) has been designated with an asterisk but deviates
in any material respect from the latest form of such Ancillary Document provided to Purchaser prior to the Execution Date, enter into
such Ancillary Document only upon the prior written consent of Purchaser (which consent shall not be unreasonably withheld or delayed);
or (B) to the extent such Ancillary Document is not subject to the terms and conditions of the foregoing clause (A), enter
into such Ancillary Document without the necessity of Purchaser’s consent in any respect.

 

(b)          Following
entry into any Financing Document or Ancillary Document, Seller shall promptly provide to Purchaser a true, complete and correct copy
of such Contract or document.

 

ARTICLE 6

 INDEMNIFICATION

 

6.01.      Indemnification
by Seller. Seller hereby indemnifies and holds harmless the Purchaser Indemnified Parties in respect of, and holds each of them
harmless from and against, any and all Losses suffered, incurred or sustained by any of them or to which any of them become subject, resulting
from, arising out of or related to: (a) any breach of any representation, warranty, covenant,
agreement or obligation
made by Seller in this Agreement or any certificate delivered by Seller pursuant to this Agreement; or
(b) the matters referenced on Schedule 6.01(b); provided, however, that the foregoing indemnity shall
not apply to Losses to the extent caused by the gross negligence or willful misconduct of Purchaser Indemnified Parties or their agents,
officers, employees or contractors.

 

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6.02.      Indemnification
by Purchaser. Purchaser hereby indemnifies and holds harmless the Seller Indemnified Parties in respect of, and holds each of
them harmless from and against, any and all Losses suffered, incurred or sustained by any of them or to which any of them become subject,
resulting from, arising out of or relating to any breach by Purchaser of any representation, warranty, covenant, agreement or obligation
made by Purchaser in this Agreement or any certificate delivered by Purchaser pursuant to this Agreement; provided, however,
that the foregoing indemnity shall not apply to Losses to the extent caused by the gross negligence or willful misconduct of Seller Indemnified
Parties or their agents, officers, employees or contractors.

 

6.03.      Survival
of Representations, Warranties, Covenants and Agreements. The representations, warranties, covenants, agreements and obligations
of Seller and Purchaser contained in this Agreement are material, were relied on by such Parties, and will survive the Closing Date and
the Second Closing Date as provided in this Section 6.03. Subject to the limitations and other provisions of this
Agreement, (a) the
representations and warranties contained herein and
made as of the Execution Date or the Closing Date shall survive the Closing for twelve (12) months after the Closing Date;
provided that (i) the representations and warranties contained in Section 3.01(a) (Existence), Section 3.01(b) (Authority),
Section 3.01(g) (Brokers), and
Sections 3.01(i)(i), (ii), (v) and (ix) (Company and Black Rock Entities),
given
on the Closing Date (collectively, the “Seller Closing Date Fundamental Representations”) and Section 3.02(a) (Existence),
Section 3.02(b) (Authority) and Section 3.02(h) (Brokers) (the “Seller
Fundamental Representations”) shall survive the Closing for five (5) years after the Closing Date and
(ii) the representations and warranties in Section 3.01(k) (Taxes) shall survive the Closing until thirty
(30) days after the expiration of the applicable Tax statute of limitations.;
and (b) the representations and warranties contained herein and made as of the Second Closing Date shall survive the Second Closing
for twelve (12) months after the Second Closing Date; provided that the representations and warranties contained in Section 3.01(a) (Existence),
Section 3.01(b) (Authority), Section 3.01(g) (Brokers), Sections 3.01(i)(x), 3.01(i)(xi) and
3.01(i)(xii) (Company and Black Rock Entities) given on the Second Closing Date (collectively, the “Seller Second
Closing Date Fundamental Representations” and, together with the Seller Closing Date Fundamental Representations, the “Seller
Fundamental Representations”) and Section 3.02(a) (Existence) and Section 3.02(b) (Authority)
shall survive the Closing for five (5) years after the Second Closing Date. The covenants, agreements and obligations
in this Agreement to be performed shall survive until the date on which they have been fully performed. No claim under this Agreement
may be made unless such Party shall have delivered, with respect to any claim under Section 6.01 or Section 6.02,
a written notice of claim prior to the applicable survival expiration date; provided that, if written notice for a claim of indemnification
has been provided by the Indemnified Party pursuant to Section 6.04(a) on or prior to the applicable survival expiration
date, then the obligation of the Indemnifying Party to indemnify the Indemnified Party pursuant to this Article 6 shall survive
with respect to such claim until such claim is finally resolved.

 

6.04.      Limitations
on Claims.

 

(a)          An
Indemnifying Party shall have no obligation to indemnify an Indemnified Party until the aggregate amount of all Losses incurred that are
subject to indemnification by such Indemnifying Party pursuant to this Article 6 equal or exceed [***] of the portion
of the Purchase Price paid by Purchaser as of such date (the
 “Deductible”) in which event the Indemnifying Party shall be liable for Losses only to the extent they are in excess
of the Deductible; provided that the Deductible shall not apply to Losses resulting from, arising out of or relating to (i) any
Fraudulent Action or (ii) the matters referenced on Schedule 6.01(b).

 

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(b)           The
aggregate liability of the Seller Indemnifying Parties and the Purchaser Indemnifying Parties under this Article 6 resulting
from any claims under any breaches of representations or warranties herein and in any certificates delivered pursuant hereto, shall be
limited to an amount equal to [***] of the portion of the Purchase
Price paid by Purchaser as of such date (the “Cap”);
provided that the Cap shall not apply to Losses resulting from, arising out of or relating to (i) any Fraudulent Action or
(ii) a breach of the Seller Fundamental Representations; provided, further, that the aggregate liability of the Seller
Indemnifying Parties resulting from the Seller Fundamental Representations plus any other Losses resulting from any claims under
breaches of representations or warranties herein and in any certificates delivered pursuant hereto shall be limited to an amount equal
to the portion of the Purchase Price paid
by Purchaser as of such date. For the avoidance of doubt, the foregoing limitation will not apply to Losses resulting from,
arising out of or relating to (i) any breach of any covenant, agreement or obligation made herein or any certificate delivered
pursuant hereto or (ii) the matters referenced on Schedule 6.01(b).

 

(c)           The
amount of any claim pursuant to this Article 6 will be reduced by the amount of any insurance proceeds actually recovered
(less the cost to collect the proceeds of such insurance and the amount, if any, of any retroactive or other premium adjustments reasonably
attributable thereto) and the amount of any Tax benefit (which for this purpose means any reduction in cash Taxes payable that would otherwise
be due or the receipt of a refund of Taxes by the Indemnified Parties (or, in the case of an Indemnified Party that is either a disregarded
entity, partnership or other pass-through entity for U.S. federal income tax purposes, the ultimate taxpayer(s) with respect to such
entity), in each case only with respect to the taxable year in which the Loss was incurred or paid) to the Indemnified Party in respect
of such claim or the facts or events giving rise to such indemnity obligation. If the Indemnified Party realizes such Tax benefit after
the date on which an indemnity payment has been made to the Indemnified Party, the Indemnified Party shall promptly make payment to the
Indemnifying Party in an amount equal to such Tax benefit; provided that such payment shall not exceed the amount of the indemnity
payment.

 

6.05.      Procedure for Indemnification of
Third Party Claims.

 

(a)           Notice.
Whenever any claim by a third party shall arise for indemnification under this Article 6, the Indemnified Party shall promptly
notify the Indemnifying Party of the claim and, when known, the facts constituting the basis for such claim and, if known, the notice
shall specify the amount or an estimate of the amount of the liability arising therefrom. The Indemnified Party shall provide to the Indemnifying
Party copies of all material notices and documents (including court papers) received or transmitted by the Indemnified Party relating
to such claim. The failure or delay of the Indemnified Party to deliver prompt written notice of a claim shall not affect the indemnity
obligations of the Indemnifying Party hereunder, except to the extent the Indemnifying Party was actually disadvantaged by such failure
or delay in delivery of notice of such claim.

 

(b)           Settlement
of Losses. If the Indemnified Party has assumed the defense of any claim by a third party which may give rise to indemnity hereunder
pursuant to Section 6.06(c), the Indemnified Party shall not settle, consent to the entry of a judgment of or compromise such
claim without the prior written consent (which consent shall not be unreasonably withheld or delayed) of the Indemnifying Party.

 

6.06.      Rights of the
Indemnifying Party in the Defense of Third Party Claims.

 

(a)           Right
to Assume the Defense. In connection with any claim by a third party which may give rise to indemnity hereunder, the Indemnifying
Party shall have thirty (30) days after the date the Indemnifying Party is notified of such claim by the Indemnified Party to assume the
defense of any such claim, which defense shall be prosecuted by the Indemnifying Party to a final conclusion or settlement in accordance
with the terms hereof.

 

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(b)           Procedure.
If the Indemnifying Party assumes the defense of any such claim, the Indemnifying Party shall (i) select counsel reasonably
acceptable to the Indemnified Party to conduct the defense of such claim and (ii) take all steps necessary in the defense
or settlement thereof, at its sole cost and expense. The Indemnified Party shall be entitled to participate in (but not control) the defense
of any such claim, with its own counsel and at its sole cost and expense; provided that, if the claim includes allegations for
which the Indemnifying Party both would and would not be obligated to indemnify the Indemnified Party, the Indemnifying Party and the
Indemnified Party shall in that case jointly assume the defense thereof. The Indemnified Party and the Indemnifying Party shall fully
cooperate with each other and their respective counsel in the defense or settlement of such claim. The Party in charge of the defense
shall keep the other Party appraised at all times as to the status of the defense or any settlement negotiations with respect thereto.

 

(c)           Settlement
of Losses. The Indemnifying Party shall not consent to a settlement of or the entry of any judgment arising from, any such claim or
legal proceeding, without the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld or delayed).

 

(d)           Decline
to Assume the Defense. The Indemnified Party may defend against any such claim, at the sole cost and expense of the Indemnifying Party,
in such manner as it may deem reasonably appropriate, including settling such claim in accordance with the terms hereof if (i) the
Indemnifying Party does not assume the defense of any such claim resulting therefrom within thirty (30) days after the date the Indemnifying
Party is notified of such claim by the Indemnified Party or (ii) the Indemnified Party reasonably concludes that the Indemnifying
Party is (A) not diligently defending the Indemnified Party, (B) not contesting such claim in good faith through
appropriate proceedings or (C) has not taken such action (including the posting of a bond, deposit or other security) as may
be necessary to prevent any action to foreclose a Lien against or attachment of any asset or property of the Indemnified Party for payment
of such claim; provided that in the case of this clause (ii), the Indemnified Party will provide written notice to the Indemnifying
Party of Indemnified Party’s conclusion, and Indemnifying Party shall have failed to take the applicable actions within thirty (30)
days of such written notice.

 

6.07.      Direct
Claims. In the event that any Indemnified Party has a claim against any Indemnifying Party which may give rise to indemnity
hereunder that does not involve a claim brought by a third party, the Indemnified Party shall promptly notify the Indemnifying Party
of the claim and the facts constituting the basis for such claim and, if known, the amount or an estimate of the amount of the
liability arising therefrom. If the Indemnifying Party does not notify the Indemnified Party within thirty (30) days from receipt of
such claim notice that the Indemnifying Party disputes such claim, the amount of such claim shall be conclusively deemed a liability
of the Indemnifying Party hereunder; provided, however, if the Indemnifying Party does notify the Indemnified Party
that it disputes such claim within the required thirty (30) day period, the Parties shall attempt in good faith to agree upon the
rights of the respective Parties with respect to such claim. If the Parties should so agree, a memorandum setting forth such
agreement shall be prepared and signed by both Parties. If such Parties shall not agree, the Indemnified Party shall be entitled to
take any action in law or in equity as such Indemnified Party shall deem necessary to enforce the provisions of this Article 6 against
the Indemnifying Party.

 

6.08.      Exclusive
Remedy. Absent any Fraudulent Action, the indemnities set forth in this Article 6 shall be the exclusive remedies
of Purchaser and Seller and their respective members, officers, directors, employees, agents and Affiliates due to misrepresentation,
breach of warranty, nonfulfillment or failure to perform any covenant or agreement contained in this Agreement, and the Parties shall
not be entitled to a rescission of this Agreement or to any further indemnification rights or claims of any nature whatsoever in respect
thereof, all of which the Parties hereto hereby waive.

 

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6.09.      Mitigations.

 

(a)          Each
of the Parties agrees to take all commercially reasonable steps to mitigate their respective Losses upon and after becoming aware of any
event or condition which would reasonably be expected to give rise to any Losses that are indemnifiable hereunder.

 

(b)          Upon
making any payment to the Indemnified Party for any indemnification claim pursuant to this Article 6, the Indemnifying Party
shall be subrogated, to the extent of such payment, to any rights which the Indemnified Party may have against any third parties with
respect to the subject matter underlying such indemnification claim and the Indemnified Party shall assign any such rights to the Indemnifying
Party.

 

6.10.      Indemnity Treatment.
Any amount of indemnification payable pursuant to the provisions of this Article 6 shall, to the extent permitted by law,
be treated as an adjustment to the Purchase Price (as determined for all relevant Tax purposes).

 

ARTICLE 7 

TERMINATION

 

7.01.      Termination.
This Agreement may be terminated at any time prior to the Closing Date as follows:

 

(a)          This
Agreement may be terminated at any time prior to the
Closing Date as follows:

 

(i)           (a) by
mutual written consent of Seller and Purchaser;

 

(ii)           (b) by
either Party if the Closing has not occurred on or before MarchJanuary 31,
2022 (;
provided, however, that so long as the Seller is using commercially reasonable efforts to continue commissioning Additional
Turbines as of such date, such deadline shall be extended to March 2, 2022, provided further that so long as the Seller is
using commercially reasonable efforts to continue commissioning Additional Turbines as of such date, such deadline shall be extended
to April 1, 2022 (such date, the “Outside Date”), and the failure to reach the Closing Date was not
caused by a breach of this Agreement by the terminating Party;

 

(iii)          (c) by
Purchaser if there has been a breach by Seller of any representation, warranty, covenant or agreement contained in this Agreement that
(i) would result in a failure of a condition set forth in Section 4.01, as applicable, and (ii) either
(x) is a breach of Seller’s obligations to transfer the Acquired Interests at Closing in accordance with this Agreement or
(y) such breach has not been cured, or by its nature cannot be cured, within thirty (30) days following written notification thereof;
provided, however, that if, at the end of such thirty (30) day period, Seller is endeavoring in good faith, and proceeding
diligently, to cure such breach, Seller shall have an additional thirty (30) days in which to effect such cure;

 

(iv)          (d) by
Seller if there has been a breach by Purchaser of any representation, warranty, covenant or agreement contained in this Agreement that
(i) would result in a failure of a condition set forth in Section 4.01, as applicable, and (ii) such
breach has not been cured, or by its nature cannot be cured, within 30 days following written notification thereof; provided, however,
that if, at the end of such thirty (30) day period, Purchaser is endeavoring in good faith, and proceeding diligently, to cure such breach,
Purchaser shall have an additional thirty (30) days in which to effect such cure; and

 

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(v)           (e) by
Purchaser if there has been a breach by Seller of its covenant in Section 5.12(a) with respect to the Financing Documents;
provided, that such breach was not caused by a breach by Purchaser of the terms and conditions with respect to its granting of
consent under Section 5.12(a), as applicable.

 

(b)          This
Agreement may be terminated, solely with respect to Purchaser’s obligations to purchase the Class A Interests from Seller for
the Class A Purchase Price and subsequently contribute such Class A Interests to the Master JV HoldCo, at any time prior to
the Second Closing Date, by either Party if the Second Closing has not occurred on or before the Outside Date, and the failure to reach
the Second Closing Date was not caused by a breach of this Agreement by the terminating Party.

 

7.02.      Effect of Termination.

 

(a)          If
this Agreement is validly terminated pursuant to Section 7.01, this Agreement will forthwith become null and void, and there
will be no liability or obligation on the part of either Purchaser or Seller (or any of their respective Representatives or Affiliates)
in respect of this Agreement, except that the applicable portions of this Section 7.02, and the entirety of Article 6
and Article 8 will continue to apply following any termination; provided, however, that nothing in this
Section 7.02 shall release any Party from liability for any breach of this Agreement by such Party prior to the termination
of this Agreement (and any attempted termination by the breaching Party shall be void).

 

(b)          If
Purchaser’s obligations to purchase the Class A Interests from Seller for the Class A Purchase Price and subsequently
contribute such Class A Interests to the Master JV HoldCo are validly terminated pursuant to Section 7.01(b), such obligations
will forthwith become null and void, and there will be no liability or obligation on the part of either Purchaser or Seller (or any of
their respective Representatives or Affiliates) in respect of such obligations, except that the applicable portions of this Section 7.02,
and the entirety of Article 6 and Article 8 will continue to apply following any termination.

 

(c)          (b) Upon
termination of this Agreement by a Party for any reason, (i) Purchaser shall return all documents and other materials of Seller relating
to the Company and the Black Rock Entities, the assets or properties of the Company and the Black Rock Entities and the transactions contemplated
hereby, and (ii) Seller shall return all documents and other materials of Purchaser relating to the transactions contemplated hereby.
Each Party shall also return to the other Party any information relating to the Parties to this Agreement furnished by one Party to the
other, whether obtained before or after the execution of this Agreement. All information received by each Party with respect to the Company,
the Black Rock Entities, the assets of the Company, the assets of the Black Rock Entities or the other Party shall remain subject to the
provisions of Section 8.06.

 

ARTICLE 8 

GENERAL PROVISIONS

 

8.01.      Notices.
All notices, requests and other communications hereunder must be in writing and will be deemed to have been duly given only if delivered
personally, by email, by reputable national overnight courier service or by registered or certified mail (postage prepaid) to the Parties
at the following addresses or email addresses, as applicable:

 

		If to Purchaser, to:	Lighthouse Renewable
Class A LLC 

c/o Clearway Energy, Inc.

300 Carnegie Center Drive, Suite 300

Princeton, NJ 08540

Attn: Christopher Sotos and Kevin Malcarney

Email: christopher.sotos@clearwayenergy.com and kevin.malcarney@clearwayenergy.com

 

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		With a copy to:	Perkins Coie LLP

 700 13th St. NW

Washington, DC 20005

Attn: Eric Dodson Greenberg

Email: egreenberg@perkinscoie.com

 

		If to Seller, to:	Clearway Renew LLC

4900 N Scottsdale Road, Suite 5000

Scottsdale, AZ 85251

Attention: Chief Operating Officer E-mail: am@clearwayenergy.com

 

		With a copy to:	Clearway Renew LLC

 5780 Fleet St., Suite 130

Carlsbad, CA 92008 Attention: General Counsel

E-mail: legal@clearwayenergy.com

 

Notices, requests and other communications
will be deemed given upon the first to occur of such item having been (a) delivered personally (or refusal of delivery)
to the address provided in this Section 8.01, (b) delivered by confirmed email transmission to the email address
provided in this Section 8.01 or (c) delivered
(or refusal of such delivery) by registered or certified mail (postage prepaid) or by reputable national overnight courier service
in the manner described above to the address provided in this Section 8.01 (in each case regardless of whether such
notice, request or other communication is received by any other Person to whom a copy of such notice, request or other communication
is to be delivered pursuant to this Section 8.01). Any Party from time to time may change its address, email address or
other information for the purpose of notices to that Party by giving notice specifying such change to the other Party.

 

8.02.      Entire
Agreement. This Agreement and the documents referenced herein supersede all prior discussions and agreements, whether oral or
written, between the Parties with respect to the subject matter hereof, and contains the entire agreement between the Parties with respect
to the subject matter hereof.

 

8.03.      Specific
Performance. The Parties to this Agreement agree that if any of the provisions of this Agreement were not performed in accordance
with their specific terms or were otherwise breached, irreparable damage would occur and money damages may not be a sufficient remedy.
In addition to any other remedy at law or in equity, each of Purchaser and Seller shall be entitled to specific performance by the other
Party of its obligations under this Agreement and immediate injunctive relief, without the necessity of proving the inadequacy of money
damages as a remedy.

 

8.04.     Time
of the Essence. Time is of the essence with regard to all duties and time periods set forth in this Agreement.

 

8.05.      Expenses.
Except as otherwise expressly provided in this Agreement, whether or not the transactions contemplated hereby are consummated, each Party
will pay its own costs and expenses incurred in connection with the negotiation, execution and performance of this Agreement.

 

    44

     

    

 

8.06.      Confidentiality;
Disclosures. This Agreement is confidential, and neither Party shall disclose the terms and conditions of this Agreement to any
other Person (other than such Party’s Affiliates and its and their respective officers, directors, employees, representatives, agents
and advisors) or issue, or permit any of its Affiliates to issue, any press release or otherwise make any public statements or announcements
regarding this Agreement or the transactions contemplated by this Agreement without the prior written consent (which consent will not
be unreasonably withheld, conditioned or delayed) of the other Party, except as otherwise determined to be necessary or appropriate to
comply with applicable Law or any rules or regulations of any supervisory authority, regulatory authority or other Governmental Authority
having jurisdiction over it or any of its Affiliates (including the Securities and Exchange Commission and the New York Stock Exchange),
in which case, the Party required to make such disclosure or issue such press release or public announcement shall use reasonable efforts
to provide the other Party a reasonable opportunity to comment on such disclosure, press release or public announcement in advance thereof.
Notwithstanding the foregoing, nothing contained in this Agreement shall limit either Party’s (or either Party’s respective
Affiliates’) rights to disclose the existence of this Agreement and the general nature of the transactions described herein on any
earnings call or in similar discussions with financial media or analysts, stockholders and other members of the investment community.

 

8.07.      Waiver.
Any term or condition of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver
shall be effective unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term or condition
and delivered pursuant to Section 8.01. No waiver by any Party of any term or condition of this Agreement, in any one or more
instances, shall be deemed to be or construed as a waiver of the same or any other term or condition of this Agreement on any future occasion.
All remedies, either under this Agreement or by Law or otherwise afforded, will be cumulative and not alternative.

 

8.08.      Amendment.
This Agreement may be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each Party.

 

8.09.      No
Third Party Beneficiary. The terms and provisions of this Agreement are intended solely for the benefit of each Party and their
respective successors or permitted assigns, and it is not the intention of the Parties to confer third party beneficiary rights upon any
other Person other than any Person entitled to indemnity under Article 6.

 

8.10.      Assignment.
The obligations of the Parties under this Agreement are not assignable without the prior written consent of the other Party, which such
Party may withhold in its discretion; provided that Purchaser may assign this Agreement, including the right to acquire the Acquired
Interests or the Class A Interests, without the prior written
consent of Seller, to (a) any Affiliate of Purchaser, or (b) any financial institution providing purchase money or other financing
to Purchaser from time to time as collateral security for such financing, in each case so long as Purchaser remains fully liable for its
obligations under this Agreement.

 

8.11.      Severability.
If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present or future Law, and if the rights
or obligations of any Party under this Agreement shall not be materially and adversely affected thereby, (a) such provision
shall be fully severable, (b) this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable
provision had never comprised a part hereof and (c) the remaining provisions of this Agreement shall remain in full force
and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance here from.

 

8.12.      Governing
Law. THIS AGREEMENT AND ALL DISPUTES AND CONTROVERSIES ARISING HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ALL RESPECTS
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF EXCEPT FOR
SECTIONS 5-1401 AND 5- 1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

 

    45

     

    

 

8.13.      Consent to Jurisdiction.

 

(a)          For
all purposes of this Agreement, and for all purposes of any Action or Proceeding arising out of or relating to the transactions contemplated
hereby or for recognition or enforcement of any judgment, each Party hereto submits to the personal jurisdiction of the courts of the
State of New York and the federal courts of the United States sitting in New York County, and hereby irrevocably and unconditionally agrees
that any such Action or Proceeding may be heard and determined in such New York court or, to the extent permitted by law, in such federal
court. Each Party hereto agrees that a final judgment in any such Action or Proceeding may be enforced in any other jurisdiction by suit
on the judgment or in any other manner provided by Law. Nothing in this Agreement shall affect any right that any Party may otherwise
have to bring any Action or Proceeding relating to this Agreement against the other Party or its properties in the courts of any jurisdiction.

 

(b)          Each
Party hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so:

 

(i)           any
objection which it may now or hereafter have to the laying of venue of any Action or Proceeding arising out of or relating to this Agreement
or any related matter in any New York state or federal court located in New York County, and

 

(ii)           the
defense of an inconvenient forum to the maintenance of such Action or Proceeding in any such court.

 

(c)          Each
Party hereto irrevocably consents to service of process by registered mail, return receipt requested, as provided in Section 8.01.
Nothing in this Agreement will affect the right of any Party hereto to serve process in any other manner permitted by Law.

 

8.14.      Waiver
of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY LEGAL ACTION
TO ENFORCE OR INTERPRET THE PROVISIONS OF THIS AGREEMENT OR THAT OTHERWISE RELATES TO THIS AGREEMENT.

 

8.15.      Limitation
on Certain Damages. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, NO PARTY SHALL BE LIABLE TO ANY OTHER PARTY FOR
ANY CONSEQUENTIAL, SPECIAL, INDIRECT, SPECULATIVE, EXEMPLARY, OR PUNITIVE DAMAGES (COLLECTIVELY, “CONSEQUENTIAL DAMAGES”)
FOR ANY REASON WITH RESPECT TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT, WHETHER BASED ON STATUTE, CONTRACT, TORT OR OTHERWISE
AND WHETHER OR NOT ARISING FROM THE OTHER PARTY’S SOLE, JOINT OR CONCURRENT NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT; PROVIDED,
HOWEVER, THAT ANY LOSSES ARISING OUT OF THIRD PARTY CLAIMS FOR WHICH A PARTY IS ENTITLED TO INDEMNIFICATION UNDER THIS AGREEMENT
SHALL NOT CONSTITUTE CONSEQUENTIAL DAMAGES. FOR THE AVOIDANCE OF DOUBT, AN ACTION FOR THE PAYMENT OF THE PURCHASE PRICE SHALL NOT BE CONSIDERED
CONSEQUENTIAL DAMAGES.

 

    46

     

    

 

8.16.      Disclosures.
Seller or Purchaser may, at its option, include in the Disclosure Schedules items that are not material in order to avoid any misunderstanding,
and any such inclusion, or any references to dollar amounts, shall not be deemed to be an acknowledgment or representation that such
items are material, to establish any standard of materiality or to define further the meaning of such terms for purposes of this Agreement.
In no event shall the inclusion of any matter in the Disclosure Schedules be deemed or interpreted to broaden Seller’s or Purchaser’s
representations, warranties, covenants or agreements contained in this Agreement. Neither the specification of any dollar amount in any
representation nor the mere inclusion of any item in a schedule or in the Disclosure Schedules as an exception to a representation or
warranty shall be deemed an admission by a Party that such item represents a material fact, event or circumstance or that such item is
reasonably likely to result in a Material Adverse Effect on, the Company, the Black Rock Entities or Purchaser.

 

8.17.      PDF
Signature; Counterparts. This Agreement may be executed by PDF signature in any number of counterparts, each of which will
be deemed an original, but all of which together will constitute one and the same instrument.

 

[Signature Page Follows]

 

    47

     

    

 

IN WITNESS WHEREOF, the Parties have caused this
Membership Interest Purchase Agreement to be executed and delivered by their duly authorized officers as of the date first above written.

 

	 	Seller:
	 	 	 	 
	 	CLEARWAY RENEW LLC,
	 	a Delaware limited liability company
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page –
Black Rock MIPA]

 

    	 	 	 

     

    

 

	 	Purchaser:
	 	 	 	 
	 	LIGHTHOUSE RENEWABLE CLASS A LLC, 
	 	a Delaware limited liability company
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page –
Black Rock MIPA]EX-10.10

 Exhibit 10.10 

 

			
		 	Lease. No.: C-011955
		 	CustNo.: GLBC30
		 	DOC NAME: GLBC11955

 LEASE AGREEMENT BETWEEN MIAMI-DADE COUNTY, FLORIDA, AS LESSOR, AND  

GLOBAL CROSSING AIRLINES LLC., INC. AS LESSEE, MIAMI INTERNATIONAL AIRPORT 

THIS LEASE AGREEMENT (“Agreement”), is made and entered into as of the 20 day of December, 2021, by and between MIAMI-DADE COUNTY, a political
subdivision of the State of Florida (“County”) and GLOBAL CROSSING AIRLINES LLC, a Florida limited liability (“Lessee”). 

WITNESSETH: 
 For and in
consideration of the premises and of the mutual covenants and agreements herein contained, the parties hereto agree as follows: 
 ARTICLE
1 
 Term and Premises 

1.01 Term: The County hereby leases to the Lessee, and the Lessee hereby leases from the County, for a term of month to month, not to
exceed two years, commencing on November 1, 2021, and terminating on October 31, 2023, the premises described in Article 1.02 (Premises) hereof, for the purposes and uses set forth in Article 2 (Use of Premises) hereof. This Lease may be
cancelled by either party upon 60 days advance written notice to the other party. 
 1.02 Premises: The premises leased herein are
located in Building 919 on the Northside Area of Miami International Airport (“Airport”), and are more particularly described as follows and as shown on Exhibit A (Building 919) dated November 1, 2021, Exhibit D, dated
November 1, 2021, and Exhibit P dated November 1, 2021, attached hereto, and made a part hereof (“Premises”): 

Building 919: 
  

							
	 	  	 BUILDING 919:
	  	 	  	 
	 EXHIBIT
	  	 PARCEL ID
	  	 DESCRIPTION
	  	 AREA (SQ. FT.)

	 A
	  	#89191106	  	A/C First Floor Office Space	  	2,234
	 A
	  	#149191105	  	Loading Platform 1,644 sq. ft. (50%) Utilization	  	822
	 A
	  		  	Land	  	3,056
	 D
	  	#8919470	  	Mezzanine A/C 4th Floor Offices	  	9,902

  
 1 

							
	 D
	  	#8919475	  	 Mezzanine A/C 4th Floor Offices
	  	1,147
	 D
	  	#8919477	  	 Mezzanine A/C 4th Floor Offices
	  	1,029
	 D
	  	#8919473	  	 Mezzanine A/C 4th Floor Offices
	  	638
	 D
	  	#8919473 b	  	 Mezzanine A/C 4th Floor offices
	  	346
	 D
	  	#8919471	  	 Mezzanine A/C 4th Floor offices
	  	249
	 D
	  	#8918440	  	 Mezzanine A/C 4th Floor offices
	  	3,822
	 P
	  	#22-27S11	  	 Ramp Space-J Overflow
	  	3,000

 1.03 Suitability of Premises: The Lessee acknowledges that the Premises are suitable for the
Lessee’s proposed use and that the County has no obligation to perform or cause to be performed any maintenance, repairs, clean-ups, painting, or the like. The Lessee’s obligation under this
Agreement, such as in Article 6.01(E) (Permits and Licenses), to obtain all operating permits required of the Lessee, shall not require the County to take any action or perform any tasks within the Premises to enable the Lessee to obtain such
permits, including, but not limited to, certificates of occupancy, which shall remain the Lessee’s exclusive obligation to perform in order to obtain such permits. 

1.04 Relocation of Premises: The Premises are subject to relocation, modification, or deletion, at the sole discretion of the Aviation
Department of the County (“Department”) and this Agreement may be administratively revised to reflect such relocation, modification, or deletion upon 30 days written notice to the Lessee by the Department. Relocated space may not be
similar in size, configuration or location to the Premises leased herein. 
 ARTICLE 2 

Use of Premises 
 2.01
Authorized Use of Premises (as applicable): The Lessee shall use the Premises for the following purposes only: The Premises shall be used for administrative offices as related to
Lessee’s business activities. The Lessee shall not perform any freight and/or maintenance functions on the leased Premises, including the handling or storage of freight and/or mechanical parts. The Lessee shall have no right under this
Agreement to use the Airside Operations Area (“AOA”) of the Airport. 
 2.02 Common Use Aircraft Parking Positions:
Intentionally Omitted 
 2.03 Other Uses: Intentionally Omitted 

  
 2 

 ARTICLE 3 

Rentals and Payments 
 3.01
Annual Rental: As annual rental for the lease of the Premises, the Lessee shall pay to the County, commencing on November 1, 2021, the sum of $278,904.00 payable in twelve equal monthly installments of $23,242.00, in U.S.
funds, on the first day of each and every month in advance and without billing, at the offices of the Department as set forth in Article 3.06 (Address for Payments). Said rental is computed as follows: 

TABLE 1 
  

																			
	 BUILDING 919:
	  	 	  	 	 	  	 	 	  	 	 	  	 	 
	 DESCRIPTION
	  	PARCEL ID	  	AREA
(SQ. FT.)	 	  	RATE	 	  	ANNUAL	 	  	MONTHLY	 
	 A/C First Floor Office Space
	  	#89191106	  	 	2,234	 	  	$	13.50	 	  	$	30,159.00	 	  	$	2,513.25	 
	 Loading Platform 1,644 sq. ft (50%) Utilization
	  	#149191105	  	 	822	 	  	$	1.75	 	  	$	1,438.50	 	  	$	119.88	 
		  	Land	  	 	3,056	 	  	$	2.25	 	  	$	6,876.00	 	  	$	573.00	 
	 Mezzanine A/C 4th Floor Offices
	  	#8919470	  	 	9,902	 	  	$	13.50	 	  	$	133,677.00	 	  	$	11,139.75	 
	 Mezzanine A/C 4th Floor Offices
	  	#8919475	  	 	1,147	 	  	$	13.50	 	  	$	15,484.50	 	  	$	1,290.38	 
	 Mezzanine A/C 4th Floor Offices
	  	#8919477	  	 	1,029	 	  	$	13.50	 	  	$	13,891.50	 	  	$	1,157.63	 
	 Mezzanine A/C 4th Floor Offices
	  	#8919473	  	 	638	 	  	$	13.50	 	  	$	8,613.00	 	  	$	717.75	 
	 Mezzanine A/C 4th Floor Office
	  	#8919473b	  	 	346	 	  	$	13.50	 	  	$	4,671.00	 	  	$	389.25	 
	 Mezzanine A/C 4th Floor Office
	  	#8919471	  	 	249	 	  	$	13.50	 	  	$	3,361.50	 	  	$	280.13	 
	 Mezzanine A/C 4th Floor Office
	  	#8918440	  	 	3,832	 	  	$	13.50	 	  	$	51,732.00	 	  	$	4,311.00	 
	 22-27S-11
	  	Land Zone 1	  	 	3,000	 	  	$	2.25	 	  	$	6,750.00	 	  	$	562.50	 
		  	Airside Pavement	  	 	3,000	 	  	$	.75	 	  	$	2,250	 	  	$	187.50	 
		  		  				  				  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  		  				  				  	$	278,904.00	 	  	$	23,242.00	 
		  		  				  				  	  
	  
	 	  	  
	  
	 

 Plus, applicable state sales taxes as required by law. 

Rental rate includes basic usage levels of electricity, water and sewer and janitorial 

  
 3 

 3.03 Security Deposit: Prior to occupancy of the Premises, the Lessee shall pay to
the County and amount equal to two times the required total monthly rental as determined pursuant to Article 3.01 above, plus applicable State sales tax thereon, as security for the payment of the Lessee’s obligations hereunder.
Said Security Deposit shall be in addition to any rental payments required hereunder, and the Department shall be entitled to apply such payment to any debt of the Lessee to the Department that may then exist, as permitted by law, including but not
limited to the rent required hereunder. In lieu of the Security Deposit being made in cash, the Department, in its sole discretion, may authorize the Lessee to provide an irrevocable Letter of Credit, in a form provided by the Department, in like
amount. The amount of the Security Deposit is subject to adjustment by the Department at any time there is a change in the annual or monthly rentals pursuant to the terms of this Agreement; provided further, that the Department shall have the right
to demand an increase in the Security Deposit requirement of up to an additional four months rental to provide the Department with adequate assurance of the Lessee’s payment of its obligations, if such assurance is reasonably required because
of the Lessee’s defaults in the timely payment of rents, fees and charges due hereunder, or because the Department has reason to believe, based on published reports, that the Lessee’s future ability to pay such rentals, fees and charges,
on a timely basis, is in jeopardy. 
 3.04 Common Use Service Charges: In addition to the monthly rentals required herein, the Lessee
shall pay each month during the term of this Agreement an applicable portion of the costs incurred by the County in providing certain common use services for the benefit of the Lessee, including, but not necessarily limited to, security, servicing
of dumpsters provided by the Department pursuant to Article 4.02 (Removal of Trash), compressed air, emergency power, and industrial waste system, as applicable and actually used by or provided to the Lessee. Such costs, including administrative
costs, shall be determined by the Department and billed periodically. These service charges shall be adjusted and billed retroactively from time to time based on changes in usages and in costs to the County. 

3.05 Rental Rate Review: In the event the Lessee is in possession of the Premises by virtue of this Agreement on October 01, 2021 (and
each annual anniversary thereafter), the rental rates stated in Article 3.01 (Annual Rental) above shall be subject to review and adjustment as set forth hereafter. When such rental rate adjustments are approved by the Board of County Commissioners,
and new or revised rental rates applicable in whole or in part to the Premises and to all other similarly situated tenants at the airport are established by said Board, the Department shall notify the Lessee in writing of such rates and this
Agreement shall be considered and deemed to have been administratively amended to incorporate the revised rental rates effective as of such October 1 date. Payments for any retroactive rental adjustments shall be due upon billing by the
Department and payable within ten calendar days of same. 
 3.06 Double Rental: In the event that the Lessee remains in possession of
the Premises beyond the expiration or termination of this Agreement, the Lessee shall be bound by all of the terms and conditions of this Agreement to the same extent as if this Agreement were in full force and effect during the time beyond the
expiration date of this Agreement. However, during any such possession of the Premises as a holdover tenant after the County has demanded the return of the Premises, the Lessee shall be liable for double rentals for so long as the Lessee remains in
possession after such demand, such rentals to be based upon the rental rates applicable from time to time in whole or in part to the Premises. The parties acknowledge that the Lessee was not a holdover tenant with respect to the Prior Lease. 

  
 4 

 3.07 Address for Payments: The Lessee shall pay, by anyone of the methods described
in this article, all rentals, fees and charges required by this Agreement to the following: 
 By mail: 

Miami-Dade County Aviation Department 

Accounting Division 
 P.O. Box
526624 
 Miami, Florida 33152-6624 

By hand delivery to the offices of the Department during normal working hours to the following: 

Miami-Dade County Aviation Department 

4200 N.W. 36 Street 
 Miami,
Florida 33122 
 By electronic funds transfer for immediate credit via wire transfer to: 

Bank: Bank of America 
 Miami,
Florida 
 ABA Number: 026009593 

Swift Code Number: BofAUS3N 

Account Name: Miami-Dade Aviation Department 

Bank Account Number: 001180000120 
  

	 	Note:	       Transaction must include the Aviation Department invoice number(s) of
charges to be paid. 

 By electronic funds transfer for next day credit via the ACH (Automatic Clearing House) to: 

Bank: Bank of America 
 Miami,
Florida 
 ABA Number: 063100277 

Account Number: Miami-Dade Aviation Department 

Bank Account Number: 001180000120 

Note: Transaction must include the Aviation Department invoice number(s) of charges to be paid. 

3.08 Late Payment Charge: In the event the Lessee fails to make any payments, as required to be paid under the provisions of this
Agreement, within ten days after same shall become due, interest at the rates established from time to time by the Board of County Commissioners of Miami-Dade County, Florida (currently set at 11⁄2% per month), shall accrue against the delinquent payment(s) from the original due date until the Department actually receives payment. Such interest rate shall apply unless the Board of County Commissioners has
established a different rate or a specific provision of federal or state law requires otherwise. The right of the County to require payment of such interest and the obligation of the Lessee to pay same shall be in addition to and not in lieu of the
right of the County to enforce other provisions herein, including termination of this Agreement, and to pursue other remedies provided by law. 

  
 5 

 3.09 Dishonored Check or Draft: In the event that the Lessee delivers a dishonored
check or draft to the County in payment of any obligation arising under the terms of this Agreement, the Lessee shall incur and pay a service fee of TWENTY-FIVE DOLLARS, if the face value of the dishonored check or draft is $50.00 or less, THIRTY
DOLLARS, if the face value of the dishonored check or draft is more than $50.00 and less than $300.00, or FORTY DOLLARS, if the face value of the dishonored check or draft is $300.00 or more, or Five Percent of the face value of such dishonored
check or draft, whichever is greater. Further, in such event, the Department may require that future payments required pursuant to this Agreement be made by cashier’s check or other means acceptable to the Department. 

3.09 Utilities: Unless the Premises are separately metered and billed directly to the Lessee by the utility company or included in the
rental rates and noted in Article 3.01, the Lessee hereby agrees to pay monthly, upon billing by the Department, for utility consumption in the Premises. This monthly charge will be based on a survey conducted by or on behalf of the Department of
the utility consumption by the Lessee and/or current nondiscriminatory rates charged others at the Airport. This monthly charge may also be adjusted and billed retroactively, from time to time, based on the changes in consumption and rates. The
Lessee shall pay for all utilities used by it. In the event the Premises are metered and billed to the Department, the Lessee shall pay for utility consumption based on the metered charge. The County shall have no obligation to provide utilities to
the Premises other than those existing as of the effective date of this Agreement. 
 3.10 Gross Revenues: Intentionally Omitted 

ARTICLE 4 
 Maintenance
And Repair by Lessee 
 4.01 Cleaning: The Lessee shall, at its sole cost and expense, perform or cause to be performed, services
which will at all times keep the Premises clean, neat, orderly, sanitary and presentable. 
 4.02 Removal of Trash: The Lessee shall,
at its sole cost and expense, remove from the Premises all trash and refuse which might accumulate and arise from its use of the Premises and the business operations of the Lessee under this Agreement. Such trash and refuse shall be disposed of only
in the common use dumpsters provided by the Department or in such other manner approved by the Department. 
 4.03 Maintenance and
Repairs: The Lessee shall repair and maintain in good condition the Premises and all improvements or alterations thereto, as described in Appendix 4.03 (Maintenance Responsibility List), except for those items for which the County is responsible
pursuant to Article 5 (Maintenance by County). Such repair and maintenance shall include, but not be limited to, painting, floor coverings, doors, windows, pavement (landside and airside), dock levelers, protection bumpers attached to building,
equipment, furnishings, fixtures, appurtenances, replacement of light bulbs, ballasts and tubes and the replacement of all broken glass, and shall at all times be based on a standard of care reflecting prudent property management. Maintenance and
repairs shall be in quality and class equal to or better than the original work to preserve the Premises in good order and condition. The Lessee shall repair all damage caused by the Lessee and its employees, agents, independent contractors,
patrons, servants or invitees. Prior 

  
 6 

 
to or at termination of this Agreement, injury done by the installation or removal of furniture and personal property of the Lessee shall be repaired so as to restore the Premises to their
original state, except as the Premises may have been altered by the Lessee with the approval of the Department pursuant to Article 7.01 (Alteration), and to quit and surrender up the Premises in the same good order and condition as it was at the
commencement of this Agreement, reasonable wear and tear and damage caused by an Act of God excepted; provided however, that such return of the Premises under this Article 4.03 shall not relieve the Lessee of its obligations for damages to the
Premises that may be specifically provided elsewhere in this Agreement. 
 4.04 Modifications or Access to Roof: The Lessee covenants
that it shall not install, attach, suspend or in any manner modify the roof, its members or structures nor shall it permit any person to walk on the roof or its members without the prior written consent of the Department. In the event the Lessee
violates this covenant, the County shall not have any responsibility for any damages to the property of the Lessee or others inside the leased Premises caused by rain or other hazard in any way related to the roof. 

4.05 Inspections: The Department and/or its designated representatives shall have the right, during normal working hours, to inspect the
Premises to identify those items of maintenance, repair, replacement, modification and refurbishment required of the Lessee or the County, pursuant to Article 5 (Maintenance by County), to keep the Premises in good order and condition. The Lessee
shall perform all corrective work required of it, identified in such inspection(s) within 30 days of receipt of written notice from the Department, or if such corrective work cannot reasonably be completed within such 30 day period, Lessee shall
commence such work within 30 days of receipt of written notice and complete such work as expeditiously thereafter as reasonably possible. Trash and debris problems shall be corrected within 24 hours following receipt of either oral or written notice
from the Department. 
 4.06 Failure to Maintain: If it is determined by the Department that the Lessee has failed to properly clean,
remove trash and refuse, maintain, repair, replace and refurbish the Premises as required by this Article 4 (Maintenance and Repair by Lessee), the Department shall provide to the Lessee a list of deficiencies, reflecting the amount of time to be
reasonably allowed for the Lessee to correct same. If the Lessee fails to correct such deficiencies within the time allowed and has not registered an objection as to its obligation to do so, the Department, following 10 days further notice to the
Lessee, may enter upon the Premises and perform all work, which, in the judgment of the Department, may be necessary, and the County shall add the cost of such work, plus 25% for administrative costs, to the rent due hereunder on the first day of
the month following the date of such work, and such cost shall be and constitute a part of the rent. Subsequent to receipt of the further notice of intent to perform repairs or cleanup from the Department, the Lessee shall not undertake performance
of such repairs or cleanup without specific prior written authorization from the Department, not to be unreasonably withheld if the Department has not yet contracted for or commenced the needed repairs or cleanup. 

ARTICLE 5 
 Maintenance
by County 
 5.01 County Maintenance: The County shall operate and maintain in good condition all components of the existing
water, sanitary sewerage and storm water drainage facilities that lie outside the boundaries of the Premises. The County shall maintain the roof, its structural supports and exterior walls of the building. The County shall maintain all common areas
including parking areas, hallways, restrooms, elevators, landscaping, irrigation system and the Building’s central air conditioning system. The County shall have no maintenance responsibility within the Premises including for doors or windows.
If any of such facilities are damaged or destroyed by the operations of the Lessee, the Department shall make the necessary repairs or replacements and shall bill the Lessee for the costs of same, plus 25% for administrative costs, in the manner
specified in Article 4.06 (Failure to Maintain) hereof. 

  
 7 

 5.02 County Maintenance Subject to Certain Conditions: Such maintenance by the County
may be subject to interruption caused by repairs, strikes, lockouts, labor controversies, inability to obtain, fuel, power or parts, accidents, breakdowns, catastrophes, national or local emergencies, acts of God, and other conditions beyond the
control of the County. Upon any such happening, the Lessee shall have no claim for damages for the County’s failure to furnish or to furnish in a timely manner any such maintenance; provided, however, that the Department, in its sole
discretion, may provide a rent abatement for that portion of the Premises rendered unusable for the period of time that the County is unable to make the repairs required by Article 5.01 (County Maintenance). The County shall exercise reasonable
diligence to remedy and/or cure any such interruptions; to the extent such interruptions are within the County’s control. 
 ARTICLE
6 
 Regulations, Licenses and Permits 

6.01 Rules and Regulations - General: 
  

	A)	 

  

	 	(1)	 The Lessee shall comply with all Ordinances of the County, including the Rules and Regulations of the
Department, Chapter 25, Code of Miami-Dade County, Florida, as the same may be amended from time to time, Operational Directives issued thereunder, all additional laws, statutes, ordinances, regulations and rules of the Federal, State and County
Governments, and any and all plans and programs developed in compliance therewith, which may be applicable to its operations or activities under this Agreement, specifically including, without limiting the generality hereof, Federal air and safety
laws and regulations and Federal, State and County environmental laws. 

  

	 	(2)	 During the repair/renovation period of the work to be performed by Lessee hereunder, and at any time Lessee
performs any work on the Premises, Lessee shall comply with all design and construction requirements of MDAD, including, but not limited to, MDAD’s Tenant Airport Construction (Reimbursable or
Non-Reimbursable) requirements (“TAC”), as they may be amended from time to time. (Exhibit Y) 

All design and construction work must be approved in advance by MDAD, to the extent set forth in such TAC. 

 

	B)	 Compliance with Responsible Wages and Benefits for County Construction Contracts (Implementing Order #3-24): 

  

	 	Lessee is aware of the policy of Miami-Dade County that in all leases of County-owned land which provide for privately funded construction improvements thereon whose construction costs are greater than or equal to
$5 million dollars, or construction improvements where any portion of which are financed by any federal, state or local governmental entity or by bonds issued by such entities, including the Industrial Development Authority (IDA), the Lessee
shall include the requirements of the Responsible Wages Ordinance codified as Section 2-11.16 of the Miami-Dade County Code, as well as Implementing Order #3-24 in
all applicable construction contracts. Lessee agrees to comply with all applicable provisions of such ordinance and implementing order. 

  
 8 

	C)	 Other Programs: 

  

	 	To the extent required by the current terms of the County’s Community Business Enterprise (CBE) Program applicable to architects and engineers under Section 2-10,4.01 of
Miami-Dade County’s Code, the Community Small Business Enterprise (CSBE) Program for construction activities under Section 10-33.02, the Living Wage Ordinance under
Section 2-8.9, the Art in Public Places (AIPP) Program under Section 2-11.15, the ordinance referred to as the “Little Davis-Bacon Ordinance” under Section 2-11.16, and any other program of the County made applicable to the Lessee’s activities hereunder, as such programs, ordinances, or code provisions may be amended from time to time, Lessee agrees
to comply with such applicable provisions as well as any Implementing Orders and other directives issued by the County relating to such Programs. 

  

	D)	 Art in Public Places: 

 

	 	Art in Public Places (“APP”) provisions of the Miami-Dade County Code and Administrative Order, as managed by the Miami-Dade County Department of Cultural Affairs (“Department of Cultural Affairs”)
pursuant to Procedure 358 in the Miami-Dade County Procedures Manual (“Procedures Manual”). The Lessee/Developer shall transmit 1.5% of the Project costs for all development on County land (as outlined in the Procedures Manual) to the
Miami-Dade Aviation Department to be deposited in the Aviation Art in Public Places Trust Account for the implementation of the APP program. The Lessee/Developer is required to work collaboratively with the Department of Cultural Affairs on the
implementation of the APP program pursuant to the requirements of said program. The referenced documents can be accessed at: 

https://library.municode.com/fl/miami - dade county/codes/code of ordinances http://www.miamidade.gov/ao/home.asp?Process=alphalist
http://intra.miamidade.gov/managementandbudget/library/procedures/358.pdf 
  

	E)	 Permits and Licenses: 

 

	 	(1)	 The Lessee, at its sole cost and expense, shall be liable and responsible for obtaining, paying for,
maintaining on a current basis, and fully complying with, any and all permits, licenses and other governmental authorizations, however designated, as may be required, at any time throughout the entire term of this Agreement, by any Federal, State,
or County governmental entity or any judicial body having jurisdiction over the Lessee or the Lessee’s operations and activities, for any activity of the Lessee conducted on the Premises and for any and all operations conducted by the Lessee,
including insuring that all legal requirements, permits and licenses necessary for or resulting, directly or indirectly, from the Lessee’s operations and activities on the Premises have been obtained and are being fully complied with.

  
 9 

	 	(2)	 Such permits and licenses shall include, but not be limited to, a Certificate of Use and Occupancy and any
required Industrial Waste or Operating Permits from Department of Regulatory and Economic Resources. At the inception of this Agreement, the Lessee shall provide to the Department evidence that it has obtained the Certificate of Use and Occupancy
and, as applicable, the appropriate operating Waste Permit(s). Upon written request of the Department, the Lessee shall provide to the Department copies of any permits and licenses, and applications therefor, which the Department may request.

  

	F)	 Violations of Rules and Regulations: 

Subject to the County’s obligations as confirmed in Article 8 (Environmental Compliance), Lessee agrees to pay on behalf of the County any
penalty, assessment or fine issued against the County, or to defend in the name of the County any claim, assessment or civil action, which may be presented or initiated by any agency or officer of the Federal, State or County governments, based upon
a claim or allegation that the Lessee, its agents, employees, invitees, or trespassers have violated any law, ordinance, regulation, rule or directive described in Article 6.01 above or any plan or program developed in compliance therewith. The
Lessee further agrees that the substance of this Article 6.01 (Rules and Regulations - General) above shall be included in every sublease, contract and other agreement, which the Lessee may enter into related to its operations and activities under
this Agreement and that any such sublease, contract and other agreement shall specifically provide that “Miami-Dade County, Florida is a third party beneficiary of this and related provisions.” This provision shall not constitute a waiver
of any other conditions of this Agreement prohibiting or limiting assignments, subletting or subcontracting. 
 6.02 Aircraft Noise
Abatement Regulations Compliance: The Lessee hereby specifically acknowledges its awareness that the noise generated by aircraft, while on the ground and in flight, may cause annoyance to residential areas in proximity to the Airport and/or
under or near flight corridors serving the Airport and that the County, as proprietor of the Airport, may, therefore, from time to time adopt certain lawful policies, procedures and/or regulations, not inconsistent with the Airport Noise and
Capacity Act of 1990, unless otherwise approved by the Federal Aviation Administration, and not inconsistent with aircraft safety or the Lessee’s rights hereunder, intended to abate the effects of aircraft noise. Said policies, procedures
and/or regulations may deal with, but are not necessarily limited to, nighttime engine run-ups, preferential runway usage, aircraft arrival and departure patterns, use of displaced runway thresholds, and the
like. The Lessee specifically understands and agrees that a violation of such noise abatement policies, procedures and/or regulations may result in the arrest or citation of the offending party, with the imposition of fines, and that a violation of
same shall constitute a material breach hereunder and may result in termination of this Agreement pursuant to the provisions hereof. 

  
 10 

 ARTICLE 7 

Alteration of Premises and Erection of Signs 

7.01 Alteration: The Lessee shall not alter the Premises in any manner whatsoever without the prior written approval of the Department.
In the event the Lessee is given approval to make any alterations to the Premises, the Lessee shall fully comply with the terms and conditions of the approval document, the applicable Tenant Airport Construction (TAC) requirements (Exhibit Y), as
may be amended from time to time, of the Department’s TAC Program in effect, and Article 6 (Regulations, Licenses and Permits). Such programs may include, but shall not be limited to: (i) the County’s Community Business Enterprise
(CBE) Program applicable to architects and engineers under Section 2-10.4.01 of Miami-Dade County’s Code; (ii) the Community Small Business Enterprise (CSBE) Program for construction activities
under Section 10-33.02; (iii) the Living Wage Ordinance under Section 2-8.9; the Art in Public Places (AIPP) Program under
Section 2-11.15; (iv) the Responsible Wages Ordinance under Section 2-11.16; (v) Residents First Training and Employment Program under Section 2-11.7; (vi) Employ Miami-Dade under Administrative Order (AO) 3-6; and any other program of the County applicable to the Lessee’s alteration activities
hereunder, as such programs, ordinances, or code provisions may be amended from time to time. 
 The Lessee shall comply with such applicable provisions as
well as any Administrative and/or implementing Orders and other directives issued by the County relating to such Programs. The Lessee’s failure to do so shall constitute a default pursuant to Article 13.03 (Other Defaults) hereof. 

All repair/renovation work on the leased premises shall be in accordance with (i) all applicable Federal, State and County laws, statutes, ordinances,
rules and regulations and (ii) MDAD’s Tenant Airport Construction (TAC) procedures, attached hereto as Exhibit Y 
 7.02
Signage: The Lessee shall not erect, maintain or display any identifying signs or any advertising matter, of any type or kind, which is visible to the public, without prior written approval of the Department. In the event the Department
changes the graphics system for the identification of lessees at the Airport, the Lessee agrees, if required by the Department, to change, at its sole cost, any of its identification signs necessary to comply with such graphics system. 

  
 11 

 ARTICLE 8 

Environmental Compliance 

8.01 Definitions: For purposes of this Agreement, the following additional definitions apply: 

 

	 	(A)	 “Baseline Environmental Conditions” means the presence or release of Hazardous Materials, at, on,
under, or from the Premises prior to Lessee’s Occupancy Date, the presence or release of which was not caused by Lessee or Lessee’s agents, employees, contractors, invitees or Trespassers. Solely for purposes of this Agreement, it shall be
presumed that the Baseline Environmental Conditions consist of the conditions identified in any existing (as of the date of this Agreement) Miami-Dade County maintained records, including contamination assessment reports and any other technical
reports, data bases, remedial action plans, the Baseline Audit or the presence, discharge, disposal or release of any other Hazardous Materials originating prior to the Occupancy Date that comes to be located on the Premises and not caused by Lessee
or Lessee’s agents, employees, contractors, invitees or Trespassers. 

  

	 	(B)	 “Environmental Claim” means any investigative, enforcement, cleanup, removal, containment, remedial
or other private, governmental or regulatory action at any time threatened, instituted or completed pursuant to any applicable Environmental Requirement, against Lessee with respect to its operations at Miami International Airport or against or with
respect to the Premises or any condition, use or activity on the Premises (including any such action against County), and any claim at any time threatened or made by any person against Lessee with respect to its operations at Miami International
Airport or against or with respect to the Premises or any condition, use or activity on the Premises (including any such claim against County), relating to damage, contribution, cost recovery, compensation, loss or injury resulting from or in any
way arising in connection with any Hazardous Material or any applicable Environmental Requirement. 

  

	 	(C)	 “Environmental Law” means any applicable federal, state or local law, statute, ordinance, code, rule,
or regulation, or license, authorization, decision, order, injunction, or decree, any of which may be issued by a judicial or regulatory body of competent jurisdiction, or rule of common law including, without limitation, actions in nuisance or
trespass, and any judicial or agency interpretation of any of the foregoing, which pertains to health, safety, any Hazardous Material, or the environment (including but not limited to ground or air or water or noise pollution or contamination, and
underground or aboveground tanks) and shall include without limitation, the Solid Waste Disposal Act, 42 U.S.C. § 6901 et seq.; the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C § 9601 et
seq. (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (“SARA”); the Hazardous Materials Transportation Act 49 U.S.C. § 1801 et seq.; the Federal Water Pollution Control Act, 33
U.S.C.§ 1251 et seq.; the Clean Air Act 42 U.S.C. § 7401 et seq.; the Toxic Materials Control Act 15 U.S.C. § 2601 et seq.; the Safe Drinking Water Act, 42 U.S.C. § 300f et seq.; Chapters 403, 376 and
373, Florida Statutes; Chapters 24 and 25 of Miami-Dade County Code, and any other applicable local, state or federal environmental statutes, codes, or ordinances, and all rules, regulations, orders and decrees now or hereafter promulgated under any
of the foregoing, as any of the foregoing now exist or may be changed or amended or come into effect in the future. 

  

	 	(D)	 “Environmental Requirement” means any Environmental Law, or any agreement or restriction entered into
or applicable by law (including but not limited to any condition or requirement imposed by any insurance or surety company), as the same now exists or may be changed or amended or come into effect in the future, which pertains to health, safety, any
Hazardous Material, or the environment, including but not limited to ground or air or water or noise pollution or contamination, and underground or aboveground tanks. 

  
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 With regard to any environmental agreements or restrictions entered into by MDAD, MDAD
agrees to use reasonable efforts to apprise the Miami Airport Affairs Committee (the “MAAC”), which represents the interests of the airlines at the Airport, of any such agreements or restrictions and to obtain the MAAC’s input into
such items. 
  

	 	(E)	 “Hazardous Material” means any substance, whether solid, liquid or gaseous, which is listed, defined
or regulated as a hazardous substance, a hazardous waste or pesticide, or otherwise classified as hazardous or toxic, in or pursuant to any applicable Environmental Requirement; or which is or contains asbestos, radon, any polychlorinated biphenyl,
urea formaldehyde foam insulation, explosive or radioactive material, or motor fuel or other petroleum hydrocarbons; or which causes or poses a threat to cause contamination or a nuisance on the Premises, any adjacent Premises or a hazard to the
environment or to the health or safety of persons on the Premises or Other Airport Property. 

  

	 	(F)	 “Initial Construction Period” means for any lease which contemplates construction or renovation for
Premises not previously occupied in whole or in part by Lessee under this Agreement and/or any previous Agreement, a period of time not to exceed six (6) months commencing with the date on which Lessee breaks ground on the Premises for
construction of foundations or commences such renovation. 

  

	 	(G)	 “Occupancy Date” means the date Lessee first entered, occupied or took possession of the Premises
under any written or verbal agreement. 

  

	 	(H)	 “On” or “in” when used with respect to the Premises or any premises adjacent to the
Premises, means “on, in, under, above or about.” 

  

	 	(I)	 “Other Airport Property” means property on the Airport occupied or used by Lessee, or upon which
Lessee performs operations, but which is not subject to a lease, sublease or other legal agreement governing the terms of Lessee’s occupation, use or operations at such property. 

 

	 	(J)	 “Recognized Environmental Condition” shall have the meaning set forth in ASTM E 1527-05, Section 1.1.1, as such provision may be amended or superseded from time to time. 

  

	 	(K)	 “Release” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting,
escaping, leaching, dumping or disposing into the environment. 

  

	 	(L)	 “Remediation” means any investigation, clean-up, removal
action, remedial action, restoration, repair, response action, corrective action, monitoring, sampling and analysis, installation, reclamation, closure, or post-closure in connection with the suspected, threatened or actual release of Hazardous
Materials. 

  
 13 

	 	(M)	 “Trespassers” means third parties who have entered the Premises and whose actions while on the
Premises have resulted in Release of Hazardous Materials directly onto the Premises or onto other Airport Property accessed by such persons through the Premises. Notwithstanding the foregoing, for purposes of this Agreement, Trespassers shall not
include those third parties whose actions took place off of the Premises and which resulted in the presence of Hazardous Materials on the Premises due to the migration of Hazardous Materials from that
off-Premises location. 

 8.02 Lessee’s Industrial Classification:
Lessee represents and warrants to County that Lessee’s Standard Industrial Classification (“SIC”) code number, as published in the most recent SIC Manual from the United States Office of Management and Budget, and as used on
Lessee’s Federal Tax Return is                        . 

8.03 Lessee’s Acceptance of the Risks and Condition of Premises As-Is: Lessee agrees that
the Premises shall be leased and delivered to Lessee in its current “as-is/with all faults” condition (but it is not intended by this provision that County be relieved from its duties expressly set
forth in this Agreement or any other applicable agreement). Lessee hereby, warrants, covenants, agrees, and acknowledges that: 
  

	 	(A)	 Hazardous Materials may be present on the Premises and Other Airport Property. The County is currently engaged
in a significant environmental remediation program at MIA. 

  

	 	(B)	 Under Article 8.06 below, Lessee is provided the opportunity to conduct an independent investigation of the
Premises and the physical condition thereof, including the potential presence of any Hazardous Materials on or about the Premises. Lessee’s report on the investigation, if any such report has been prepared, has been provided to the County and
is listed in Exhibit K-08 attached to this Agreement. Whether Lessee has conducted such an investigation or not, Lessee is willing to proceed with this Agreement notwithstanding the environmental conditions of
the premises or the properties surrounding the premises, subject to Lessee’s right to terminate this Agreement as otherwise provided herein. 

  

	 	(C)	 Because of the possible presence of environmental contaminants on the Premises or other Airport property,
County has made no express, implied, or other representations of any kind with respect to the suitability or usability of the Premises or other Airport Property, or any improvements appurtenant thereto, including, without limitation, the suitability
or usability of any building materials, building systems, soils or groundwater conditions (due to the presence of Hazardous Materials in, on, under, or about the Premises or other Airport property), for Lessee’s proposed or intended use, and
Lessee has relied solely on Lessee’s own inspection and examination of such matters. 

  

	 	(D)	 Except as to County’s obligations set forth in this Article or elsewhere in this Agreement, Lessee
expressly assumes the risk that Hazardous Materials that are or may be present on the Premises at the commencement of this Agreement may affect the suitability or usability of the Premises for Lessee’s proposed or intended use. Lessee agrees
that, except to the extent of County’s Remediation obligations provided in this Article 8, or any other discharge, disposal or release of Hazardous Materials or violation of Environmental Requirements, caused by County, its agents, employees or
contractors and except with respect to Baseline Environmental Conditions, County shall have no responsibility or liability with respect to any Hazardous Materials on the Premises. Notwithstanding the foregoing, in no event shall County be liable to
Lessee for damages relating to physical or personal injury, business interruptions relocation costs or any other cost (other than a cost for which County is liable under this Article 8) resulting from the presence of Hazardous Materials on the
Premises at any time during this Agreement. 

  
 14 

 8.04 Responsibilities for Hazardous Materials: 

 

	 	(A)	 Unless the parties agree otherwise in writing, the County shall conduct response actions mandated by existing
Environmental Requirements applicable to the County for (i) Hazardous Materials disclosed in the Lessee Audit to the extent required by Article 8.06 and (ii) Baseline Environmental Conditions, provided however that: 

 

	 	(B)	 County’s responsibility for Remediation under this Article 8.04 shall be limited to the Recognized
Environmental Conditions required to be remediated under applicable Environmental Requirements. If County is permitted to leave any Hazardous Material in place under applicable Environmental Requirements, County shall have the option of so doing,
unless a governmental authority requires at any time the removal of Hazardous Materials for Lessee to be able to continue with construction or occupancy of the Premises. The County shall notify Lessee of any such decision to leave Hazardous Material
in place. 

  

	 	(C)      (1)	 To the extent they exist, the County has made available to Lessee a listing of contamination assessment reports
and remedial action plans regarding any soil and groundwater contamination at the Premises. Such list is found on Exhibit K to this Agreement. The County may have already installed or may have plans to install remediation systems to clean up the
contamination described in such reports to the extent they exist. Lessee agrees that during the term of the Agreement, County’s authorized representatives shall have the right to enter the Premises in order to operate, inspect, maintain,
relocate and replace any such installed systems. Without limiting the generality of the foregoing, the County shall have the right to: (a) install, use, monitor, remove (or, in connection with monitoring wells, abandon in place in accordance
with applicable governmental regulations) soil borings, treatment systems, pumps, monitoring wells, and associated equipment; (b) construct, maintain, and ultimately remove various mechanical devices designed to aid in the monitoring and
remediating effort; and (c) undertake such related activities as the Aviation Department or other governmental authorities may require or recommend, utilizing such methods as the Aviation Department or the applicable governmental authorities
may elect in order to remediate the contamination described in any such reports. 

  
 15 

	 	(2)	 County shall utilize reasonable efforts to minimize any disturbance of the Lessee’s use of the Premises
caused by any Remediation it undertakes and shall provide Lessee prior written notice of such Remediation. Lessee agrees that it shall not unreasonably interfere with or obstruct such Remediation. County and Lessee each agree to take such action as
may be reasonable to coordinate their operations so as to minimize any interference with the other party. If vehicles, equipment, or materials belonging to the Lessee have to be temporarily relocated to permit the Remediation to be performed, the
Lessee will effect such relocation at no expense to the County. Attached to Exhibit K is a site sketch of the Premises describing any existing or currently planned Remediation equipment and depicting the current and proposed future location of such
equipment. 

  

	 	(3)	 If Remediation equipment or materials need to be temporarily stored in a secure location on the Premises, the
Lessee will provide reasonable storage inside the building on the Premises for such equipment and materials at no expense to the County, provided, however, that Lessee shall bear no liability and otherwise shall have no responsibility for any theft
of and/or damage to such equipment or materials so stored, to the extent Lessee took reasonable measures to prevent, such theft and/or damage and such theft and/or damage was not caused by Lessee or Lessee’s employees. To the extent that water
and electrical service within the Premises are not metered and the Lessee does not pay for such services directly, the Lessee will provide the County with water and electrical service from the Premises in connection with the Remediation, without
charge. The Lessee acknowledges the Remediation may be conducted at the locations depicted on the site sketch attached to Exhibit K at any time during the term of the Agreement and may continue until such time as a no further action letter is
obtained from the appropriate regulatory authorities. 

 8.05 Baseline Audit: The County has provided Lessee with a
copy of an environmental audit of the Premises, conducted to identify any Recognized Environmental Conditions associated with the Premises, which audit may include analyses of soil and groundwater samples (the initial “Baseline Audit”).
Except to the extent Lessee previously occupied the Premises, the County shall be responsible for any Recognized Environmental Conditions within the meaning of ASTM E 1527-05, or most recent version, disclosed
by the Baseline Audit. Except to the extent Lessee previously occupied the Premises, Lessee may terminate this Agreement within sixty (60) days of receipt of the Baseline Audit if Lessee, in its sole discretion, determines that the Recognized
Environmental Conditions disclosed in such Baseline Audit are unacceptable. To the extent Lessee previously occupied the Premises, Lessee, subject to its right to invoke the dispute resolution provision of 8.16, shall be responsible for all
Recognized Environmental Conditions disclosed in the Baseline Audit, which are not otherwise Baseline Environmental Conditions, unless Lessee demonstrates to the County’s satisfaction that the Recognized Environmental Conditions originated from
(1) a discharge, disposal or release outside of the Premises, unless such discharge, disposal or release was caused by Lessee, Lessee’s agents employees, contractors or invitees or Trespassers; or (2) a discharge, disposal or release
of Hazardous Material on the Premises prior to Lessee’s first occupancy of the Premises and not caused by Lessee, Lessee’s agents, employees, contractors or invitees. 

  
 16 

 8.06 Lessee Audit: Lessee, at its sole cost and expense, shall have the right to
conduct, within sixty (60) days from the receipt of the Baseline Audit, an environmental inspection of the Premises (the “Lessee Audit”), through an independent environmental consultant approved in writing by County, such approval not
to be unreasonably withheld or delayed. If Lessee elects to conduct a Lessee Audit, it shall furnish County a copy of the Lessee Audit within thirty (30) days of Lessee’s receipt of the Lessee Audit. The purpose of the Lessee Audit is to
determine whether there are present on the Premises any Recognized Environmental Conditions not identified in the Baseline Audit, any previous audits, or any contamination assessment reports or remedial action plans, to the extent any such documents
exist. Within thirty (30) days of receipt of such Lessee Audit, the County shall notify Lessee if it disputes the Recognized Environmental Conditions or the delineation of any subsurface conditions described in the Lessee Audit. If the Lessee
Audit reveals any Recognized Environmental Conditions or delineates any subsurface contamination not disclosed in any contamination assessment reports, remedial action plans, or the Baseline Audit, and which are not otherwise considered Baseline
Environmental Conditions under the terms of this Agreement, then, except to the extent that Lessee previously occupied the Premises, the County, at its option, shall: (i) allow Lessee to terminate the Agreement, without penalty, within sixty
(60) days of receipt of such notice of dispute from the County; or (ii) notify Lessee that it has agreed to be responsible for such Recognized Environmental Conditions and delineated subsurface contamination to the same extent as the
County is responsible for the Recognized Environmental Conditions and subsurface contamination disclosed in any contamination assessment reports, remedial action plans and the Baseline Audit. If the County allows Lessee to terminate the Agreement
and Lessee elects not to terminate, Lessee’s failure to terminate shall constitute a waiver of 1) Lessee’s rights to terminate its obligations under this Agreement as to any findings in such Lessee Audit, except as to its right to cancel
the lease on thirty (30) days notice under Article 1.01 (B) and, 2) as provided in Article 8.04, any claim it may have against the County with respect either to Recognized Environmental Conditions and subsurface contamination disclosed in such
Lessee Audit. To the extent the Lessee previously occupied the Premises, Lessee shall be responsible for all Recognized Environmental Conditions disclosed in the Lessee Audit that are not Baseline Environmental Conditions unless Lessee demonstrates
to the satisfaction of Aviation Department Management by written notice setting forth Lessee’s explanation why the Recognized Environmental Conditions originated from (1) a discharge, disposal or release outside of the Premises, unless
such discharge, disposal or release was caused by Lessee, Lessee’s agents, employees, contractors, or invitees; (2) a discharge, disposal or release of Hazardous Material on the Premises prior to the Occupancy Date and not caused by Lessee
or Lessee’s agents, employees, contractors or invitees ; or (3) a discharge, disposal or release caused by County or third party. Should the Aviation Department determine that such a demonstration has not been made to Aviation
Department’s satisfaction, Lessee may invoke the dispute resolution provision of 8.16 Until such time as the parties reach an agreement or until such time as the dispute is otherwise resolved, responsibility for such Recognized Environmental
Condition shall remain with Lessee. 
 8.07 Environmental Maintenance of Premises: Except for the obligations of the County under this
Article 8, Lessee shall, at its sole cost and expense, keep, maintain and use the Premises, and operate within the Premises at all times, in compliance with all applicable Environmental Laws, and shall maintain the Premises in good and sanitary
order, condition, and repair. 
 8.08 Lessee’s Use of Hazardous Materials: Exhibit K-08
is a complete list of all Hazardous Materials which Lessee currently intends to use on the Premises or Other Airport Property during the term of the Agreement which have been approved by the County, and the use, storage and transportation of which
on or about the Premises shall not be subject to County’s approval or objections. Except for those Hazardous Materials listed on Exhibit K-08, Lessee shall not use, store, generate, treat, transport, or
dispose of any Hazardous Material on the Premises or Other Airport Property without first 

  
 17 

 
providing the County thirty (30) days written notice prior to bringing such Hazardous Material upon the premises. To the extent certain Hazardous Materials are be needed to be used by Lessee
on a non-routine basis, such as for emergency repairs, Lessee may provide such notice within twenty-four (24) hours of bringing such Hazardous Material upon the premises. Notwithstanding the foregoing,
County may object to the use of any previously approved Hazardous Material should County reasonably determine that the continued use of the Hazardous Material by Lessee presents a material increased risk of site contamination, damage or injury to
persons, Premises, resources on or near the Premises or Other Airport Property, or noncompliance due to a change in regulation of such Hazardous Material under applicable Environmental Law. Upon County’s objection, Lessee shall immediately
remove the Hazardous Material from the site. This section 8.08 shall not apply to Hazardous Materials which are not used, generated, treated or disposed of by Lessee but which are otherwise transported by Lessee solely in the course of Lessee’s
business, such as cargo operations, provided, however, Lessee shall remain responsible under Article 8.14 and 8.15 for such transported Hazardous Materials. County’s objection or failure to object to the use, storage, generation, treatment,
transportation, or disposal of Hazardous Material under this paragraph, or the exclusion of certain Hazardous Materials under this paragraph, shall not limit or affect Lessee’s obligations under this Agreement, including Lessee’s duty to
remedy or remove releases or threatened releases; to comply with applicable Environmental Law and/or Environmental Requirements relating to the use, storage, generation, treatment, transportation, and/or disposal of any such Hazardous Materials; or
to indemnify County against any harm or damage caused thereby. Lessee shall promptly and completely answer periodic questionnaires from the County concerning Lessee’s practices regarding the generation, use, storage, and disposal of Hazardous
Materials under this Agreement. 
 8.09 Entry by County: 
  

	 	(A)	 Notwithstanding any other right of entry granted to County under this Agreement, and subject to the
requirements set forth in Article 8.09(B), MDAD shall have the right, at its own expense and upon reasonable notice, to enter the Premises or to have consultants enter the Premises throughout the Term of this Agreement for the purposes of:
(1) determining whether the Premises are in conformity with applicable Environmental Law; (2) conducting an environmental review or investigation of the Premises; (3) determining whether Lessee has complied with the applicable
environmental requirements of this Agreement; (4) determining the corrective measures, if any, required of Lessee to ensure the safe use, storage, and disposal of Hazardous Materials; or (5) removing Hazardous Materials (except to the
extent used, stored, generated, treated, transported, or disposed of by Lessee in compliance with applicable Environmental Requirements and the terms of this Agreement). Lessee agrees to provide access and reasonable assistance for such inspections.
MDAD shall use its best efforts to reasonably minimize interruptions of business operations on the Premises. 

  

	 	(B)	 Such inspections may include, but are not limited to, entering the Premises or adjacent property with drill
rigs or other machinery for the purpose of obtaining laboratory samples of environmental conditions or soil or groundwater conditions. Lessee shall have the right to collect split samples of any samples collected by MDAD, MDAD shall not be limited
in the number of such inspections during the Term of this Agreement MDAD will conduct such inspections during Lessee’s normal business hours, but MDAD may conduct such inspections in other than normal business hours

  
 18 

	 	
if the circumstances so require. For inspections conducted by MDAD, MDAD agrees to provide Lessee with reasonable notice (not less than twenty four (24) hours) prior to inspecting the
Premises; provided however, that such notice period shall not apply under circumstances in which MDAD reasonably determines that there exists an immediate threat to the health, safety, or welfare of any persons. Based on the results of such
inspections, should MDAD reasonably determine that Hazardous Materials have been released, discharged, stored, or used on the Premises in violation of the terms of this Agreement, Lessee shall, in a timely manner, at its expense, remove such
Hazardous Materials in a manner not inconsistent with applicable Environmental Law and otherwise comply with the reasonable recommendations of MDAD and any regulatory authorities related to the results of such inspections. The right granted to MDAD
herein to inspect the Premises shall not create a duty on MDAD’s part to inspect the Premises, nor liability of MDAD for Lessee’s use, storage, or disposal of Hazardous Materials, it being understood that Lessee shall be solely responsible
for all liability in connection therewith. MDAD shall provide the results of such inspections to the Lessee in a timely manner if requested to do so in writing. Nothing herein shall be construed to limit, restrain, impair or interfere with
County’s regulatory authority to conduct inspections and/or the manner in which it conducts such inspections. Lessee shall not be liable or otherwise responsible for any property damage to the Premises or injury to any person caused by County,
its agents or consultants during County’s inspection under this Section 8.09. 

 8.10 Permits and Licenses:
The Lessee warrants that it will secure at the times required by issuing authorities all applicable permits or approvals that are required by any governmental authority having lawful jurisdiction to enable Lessee to conduct its obligations under
this Agreement. Upon written request, Lessee shall provide to County copies of all permits, licenses, certificates of occupancy, approvals, consent orders, or other authorizations issued to Lessee under applicable Environmental Requirements, as they
pertain to the Lessee’s operations on or use of the Premises or Other Airport Property. 
 8.11 Notice of Discharge to County:

  

	 	(A)	 In the event of: (i) the happening of any material event involving the spill, release, leak, seepage,
discharge or clean-up of any Hazardous Material on the Premises or Other Airport Property in connection with Lessee’s operation thereon; or (ii) any written Environmental Claim affecting Lessee from
any person or entity resulting from Lessee’s use of the Premises or Other Airport Property, then Lessee shall immediately notify County orally within twenty-four (24) hours and in writing within three (3) business days of said notice.
If County is reasonably satisfied that Lessee is not promptly commencing the response to either of such events. County shall have the right but not the obligation to enter onto the Premises or to take such other actions as it shall deem reasonably
necessary or advisable to clean up, remove, resolve or minimize the impact of or otherwise deal with any such Hazardous Material or Environmental Claim following receipt of any notice from any person or any entity having jurisdiction asserting the
existence of any Hazardous Material or an Environmental Claim pertaining to the Premises, which if true, could result in an order, suit or other action against the County. If Lessee is unable to resolve such action in a manner which results in no
liability on the part of County, all reasonable costs and expenses incurred by County shall be deemed additional rent due County under this Agreement and shall be payable by Lessee upon demand, except to the extent they relate to a Baseline
Environmental Condition. 

  
 19 

	 	(B)	 With regard to any reporting obligation arising out of Lessee’s operations or during the Agreement, Lessee
shall timely notify the State of Florida Department of Environmental Protection, all Miami-Dade County pertinent regulatory agencies, and the United States Environmental Protection Agency, as appropriate, with regard to any and all applicable
reporting obligations while simultaneously providing written notice to County. 

  

	 	(C)	 Within sixty (60) days of execution of this Agreement, Lessee shall submit to County an emergency action
plan/contingency plan setting forth in detail Lessee’s procedures for responding to spills, releases, or discharges of Hazardous Materials. The emergency action plan/contingency plan shall identify Lessee’s emergency response coordinator
and Lessee’s emergency response contractor. 

 8.12 Reports to County: For any year in which any Hazardous
Materials have been used, generated, treated, stored, transported or otherwise been present on or in the Premises, (or on or in other Airport property for purposes related to Lessee’s operations on the Premises), Lessee shall provide County
with a written report listing: the Hazardous Materials which were present on the Premises or other Airport property; all releases of Hazardous Material that occurred or were discovered on the Premises or other Airport property and which were
required to be reported to regulatory authorities under applicable Environmental Laws; all enforcement actions related to such Hazardous Materials, including all, consent agreements or other non-privileged
documents relating to such enforcement actions during that time period. In addition, Lessee shall provide County with copies of any reports filed in accordance with the Emergency Planning and Community Right to Know Act (EPCRA) and shall make
available for review upon request by County copies of all manifests for hazardous wastes generated from operations on the Premises. Lessee shall provide the report required under this section to the County by April 1 of each year for the
preceding calendar year. 
 8.13 Periodic Environmental Audits: Lessee shall establish and maintain, at its sole expense, a system to
assure and monitor its continued compliance on the Premises with all applicable Environmental Laws, which system shall include, no less than once each year a detailed review of such compliance (the “Environmental Audit”) by such consultant
or consultants as County may approve, which approval shall not be unreasonably withheld, delayed or conditioned. Alternatively, if the Aviation Department approves, which approval shall not be unreasonably withheld, delayed, or conditioned, such
Environmental Audit may be conducted by Lessee’s personnel but in either case Lessee shall provide County with a copy or summary of its report of its annual Environmental Audit, which shall be consistent with ASTM’s “Practice for
Environmental Regulatory Compliance Audits” which shall include in its scope the items listed in Exhibit E hereto or other recognized format approved by County. If the Environmental Audit indicates any unresolved violation of any applicable
Environmental Law and/or Environmental Requirements, Lessee shall, at the request of County, provide a detailed review of the status of any such violation within thirty (30) days of the County’s request. 

  
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 8.14 Remediation of Hazardous Material Releases: If Lessee or Lessee’s agents,
employees, contractors, invitees or trespassers cause any Hazardous Materials to be released, discharged, or otherwise located on or about the Premises or Other Airport Property during the term of this Agreement (“Hazardous Material
Release”), Lessee shall promptly take all actions, at its sole expense and without abatement of rent, as are reasonable and necessary to return the affected portion of the Premises or Other Airport Property and any other affected soil or
groundwater to their condition existing prior to the Hazardous Material Release in a manner not inconsistent with applicable Environmental Law. County shall have the right to approve all such remedial work, including, without limitation:
(i) the selection of any contractor or consultant Lessee proposes to retain to investigate the nature or extent of such Hazardous Material Release or to perform any such remedial work; (ii) any reports or disclosure statements to be
submitted to any governmental authorities prior to the submission of such materials; and (iii) any proposed remediation plan or any material revision thereto prior to submission to any governmental authorities. The County’s approvals shall
not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, County’s prior consent shall not be necessary if a Hazardous Material Release poses an immediate threat to the health, safety, or welfare of any persons and,
despite Lessee’s best efforts, it is not practicable to obtain County’s consent before taking remedial action to abate such immediate threat, provided that: (a) Lessee shall notify County as soon as possible and shall thereafter
obtain County’s consent as otherwise provided in this paragraph; and (b) Lessee shall take only such action as may be necessary or appropriate to abate such immediate threat and shall otherwise comply with the provisions of this paragraph.
In addition to any rights reserved by County in this Agreement, County shall have the right, but not the obligation, to participate with Lessee, Lessee’s consultants and Lessee’s contractors in any meetings with representatives of the
governmental authorities and Lessee shall provide County reasonable notice of any such meetings. All remedial work shall be performed in compliance with all applicable Environmental Laws. The County’s consent to any remedial activities
undertaken by Lessee shall not be withheld so long as County reasonably determines that such activities will not cause any material adverse long-term or short-term effect on the Premises, or other adjoining property owned by County. Lessee’s
obligations in this section do not apply to Baseline Environmental Conditions. 
 8.15 Indemnity: Lessee shall indemnify, defend (with
counsel reasonably satisfactory to County), and hold County, its directors, officers, employees, agents, assigns, and any successors to County’s interest in the Premises, harmless from and against any and all loss, cost, damage, expense
(including reasonable attorneys’ fees), claim, cause of action, judgment, penalty, fine, or liability, directly or indirectly, relating to or arising from the use, storage, release, discharge, handling, or presence of Hazardous Materials on,
under, or about the Premises or Other Airport Property and caused by Lessee, Lessee’s agents, employees, contractors, invitees or Trespassers. This indemnification shall include without limitation: (a) personal injury claims; (b) the
payment of liens; (c) diminution in the value of the Premises or Other Airport Property; (d) damages for the loss or restriction on use of the Premises or Other Airport Property; (e) sums paid in settlement of claims;
(f) reasonable attorneys’ fees, consulting fees, and expert fees, (g) the cost of any investigation of site conditions, and (h) the cost of any repair, cleanup, remedial, removal, or restoration work or detoxification if required
by any governmental authorities or deemed necessary in County’s reasonable judgment, but shall not extend to such claims, payment, diminution, damages, sums, fees or costs to the extent caused (i) solely by an act of God or (ii) by
the negligent or willful misconduct of the County, its officers, employees, contractors or agents. For any legal proceedings or actions initiated in connection with the Hazardous Materials Release, County shall have the right at its expense but not
the obligation to join and participate in such proceedings or actions in which the County is a named party, and control that portion of the proceedings in which it is a named party. County may also negotiate, defend, approve, and appeal any action
in which County is named as a party taken or issued by any applicable governmental authorities with regard to a Hazardous Materials Release; provided, however, claims for which Lessee may be liable pursuant to this Article 8.15 shall not be settled
without 

  
 21 

 
Lessee’s consent. Any costs or expenses incurred by County for which Lessee is responsible under this paragraph or for which Lessee has indemnified County: (i) shall be paid to County
on demand, during the term of this Agreement as additional rent; and (ii) from and after the expiration or earlier termination of the Agreement shall be reimbursed by Lessee on demand. Lessee’s obligations pursuant to the foregoing
indemnity shall survive the expiration or termination of this Agreement and shall bind Lessee’s successors and assignees and inure to the benefit of County’s successors and assignees. Notwithstanding any other provision of this Agreement,
this section 8.15 does not apply to Baseline Environmental Conditions or a discharge, disposal or release caused by the County, its officers, employees, contractors or agents. 
  

	 	(A)	 This indemnity specifically includes the direct obligation of Lessee to perform, at its sole cost and expense,
any remedial or other activities required or ordered by court or agency having competent jurisdiction over the subject matter, or otherwise necessary to avoid or minimize injury or liability to any person, or to prevent the spread of Hazardous
Materials. 

  

	 	(B)	 In addition, because costs of Hazardous Materials discharges are passed on to airlines through the residual
rate charging mechanism at Miami International Airport and the charges to Lessee will be increased to offset such costs. Lessee agrees in order to minimize its obligations in this regard to use best efforts to assist the Aviation Department in
responding to Hazardous Materials spills in or Airport property reasonably close the Premises used by Lessee by making Lessee’s remediation equipment and personnel available for such emergency remediation activity. However, Lessee may provide
such assistance only at the direct request of the Aviation Department and only if Lessee’s remediation equipment is intended to be utilized for the Hazardous Material spill at issue and only if Lessee’s personnel have been trained to
respond to the Hazardous Material spill at issue. If Lessee is directed to perform any remedial work under this Article 8.15(B) for which it is later determined that Lessee is not responsible, the Aviation Department shall reimburse Lessee for all
costs associated with or arising out of Lessee’s performance of such remedial work. Lessee shall cooperate with the Aviation Department in any subsequent effort by the Aviation Department to recover from the responsible parties all costs
involved with the remediation effort that utilized Lessee’s equipment and personnel. Lessee shall perform all such work in its own name in accordance with applicable laws. Lessee acknowledges that the County’s regulatory power in this
regard is independent of the County’s contractual undertakings herein, and nothing herein shall affect the County’s right in its regulatory capacity to impose its environmental rules, regulations, and authorities upon the Lessee in
accordance with the law. 

  

	 	(C)	 In the event Lessee fails to perform its obligations in Article 8.15(A) above, and without waiving its rights
hereunder, County may, at its option, perform such remedial work as described in Article 8.15(A) above, and thereafter seek reimbursement for the costs thereof. In accordance with this Article 8, Lessee shall permit County or its designated
representative access to the Premises areas to perform such remedial activities. 

  

	 	(D)	 Whenever County has incurred costs described in this section as a result of the failure of Lessee to perform
its obligations hereunder, Lessee shall, within thirty (30) days of receipt of notice thereof, reimburse County for all such expenses together with interest at the rate of 1 1⁄2 % per month on the outstanding balance commencing on the thirty-first date following Lessee’s receipt of such notice until the date of payment. 

  
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	 	(E)	 To the extent of Lessee’s responsibility under this Article and without limiting its obligations under any
other paragraph of this Agreement, and except to the extent of County’s responsibility for environmental conditions set forth in this Article 8, Lessee shall be solely and completely responsible for responding to and complying with any
administrative notice, order, request or demand, or any third party claim or demand relating to potential or actual Hazardous Materials contamination on the Premise. Lessee’s responsibility under this paragraph includes but is not limited to
responding to such orders on behalf of County and defending against any assertion of County’s financial responsibility or individual duty to perform under such orders. Lessee shall assume, pursuant to the indemnity provision set forth in this
Article 8, any liabilities or responsibilities which are assessed against County in any action described under this paragraph. 

8.16 Dispute Resolution: County and Lessee agree that any dispute between them relating to this Article 8 will first be submitted, by
written notice, to a designated representative of both County and Lessee who will meet at County’s place of business or other mutually agreeable location, or by teleconference, and confer in an effort to resolve such dispute. Any decision of
the representatives will be final and binding on the parties. In the event the representatives are unable to resolve any dispute within ten (10) days after submission to them, either party may refer the dispute to mediation, or institute any
other available legal or equitable proceeding in order to resolve the dispute. 
 8.17 Waiver and Release: Lessee, on behalf of itself
and its heirs, successors and assigns, hereby waives, releases, acquits and forever discharges County, its principals, officers, directors, employees, agents, representatives and any other person acting on behalf of the County, and the successors
and assigns of any of the preceding, of and from any and all claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which Lessee or any
its heirs, successors, or assigns now has or which may arise in the future on account of or in any way related to or in connection with any past, present or future physical characteristic or condition of the Premises, including, without limitation,
any Hazardous Material in, at, on, under or related to the Premises, or any violation or potential violation of any Environmental Law applicable thereto; provided, however, this Article 8.17 shall not constitute a waiver or release of any obligation
of County under this Article 8. Lessee acknowledges that County would not enter into this Agreement without Lessee’s agreement to the waiver and release provided herein. 

8.18 No Waiver of Rights Causes of Actions or Defenses. Notwithstanding any language in this Agreement, including without limitation
Articles 8.03, 8.04, 8.05, 8.06, 8.14, 8.15 and 8.16, Lessee does not agree to waive or release any rights, causes of action or defenses it may have against Miami-Dade County or any other party related to allegations made by the County in
(i) Case No. 01-8758 CA 25 which has been filed by the County in the Florida Circuit Court of the Eleventh Judicial Circuit, and (ii) a letter dated April 9, 2001, to Lessee and others (who
are referred to as “responsible parties” or “RPs”). Nothing herein shall be construed to limit or expand upon any releases previously granted to or exchanged between the parties as a result of judgments or settlements obtained in
proceedings between the parties, including, without limitation, settlements in bankruptcy or settlements entered under Case No. 01-8758 CA 25 which has been filed by the County in the Florida Circuit
Court of the Eleventh Judicial Circuit. 

  
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 8.19 Surrender of Premises: Lessee shall surrender the Premises used by Lessee to
County upon the expiration or earlier termination of this Agreement free of debris, waste, and Hazardous Materials used, stored, or disposed of by Lessee or its agents, employees, contractors, invitees or Trespassers, or otherwise discharged on the
Premises or Other Airport Property for which Lessee is responsible during the term of this Agreement. The Premises shall be surrendered in a condition that complies with all applicable Environmental Requirements, and such other reasonable
environmental requirements as may be imposed by County. Lessee shall not be responsible under this section 8.19 to the extent of County’s obligations under this Article 8. 

8.20 Breach: Any breach by Lessee of any provision of this Article 8 shall, after notice and a reasonable opportunity for Lessee to
cure, constitute a default of the Agreement and shall entitle County to exercise any and all remedies provided in the Agreement, or as otherwise permitted by law. 

8.21 Survivability of Terms: the terms and conditions of this Article 8, including the indemnity, waiver, and release, shall survive the
termination of this Agreement. 
 8.22 Right to Regulate: As provided for in Article 20.12 of this Agreement, nothing within this
Article 8 shall be construed to waive or limit, restrain, impair or interfere with the County’s regulatory authority. 
 ARTICLE 9

 Indemnification and Hold Harmless 

Lessee shall indemnify and hold harmless the County and its officers, employees, agents and instrumentalities from any and all liability,
losses or damages, including attorneys’ fees and costs of defense, which the County or its officers, employees, agents or instrumentalities may incur as a result of claims, demands, suits, causes of actions or proceedings of any kind or nature
arising out of, relating to or resulting from the performance of this Agreement by the Lessee or its employees, agents, servants, partners, principals, contractors or subcontractors, except to the extent attributable to the gross negligence or
willful misconduct of the County or its agents and trespassers. Lessee shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits or actions of any kind or nature in the name of the County, where
applicable, including appellate proceedings, and shall pay costs, judgments and attorney’s fees which may issue thereon. Lessee expressly understands and agrees that any insurance protection required by this Agreement or otherwise provided by
Lessee shall in no way limit the responsibility to indemnify, keep and save harmless and defend the County or its officers, employees, agents and instrumentalities as herein provided. 

ARTICLE 10 
 Assignment
and Subletting 
 The Lessee shall not assign, transfer, pledge or otherwise encumber this Agreement, or sublet all or any portion of
the Premises, or allow others to use the Premises without the express prior written consent of the Department. 

  
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 ARTICLE 11 

Insurance 
 11.01
Insurance Required: In addition to such insurance as may be required by law, the Lessee shall maintain, without lapse or material change, for so long as it occupies the Premises, the following insurance: 

 

	 	(A)	 Commercial General Liability Insurance on a comprehensive basis, including Contractual Liability, to cover the
Lessee’s Premises and Operations, in an amount not less than $1,000,000 combined single limit per occurrence for bodily injury and property damage. The County must be shown as an additional insured with respect to this coverage

  

	 	(B)	 Automobile Liability Insurance covering all owned, non-owned and hired
vehicles used by the Lessee in connection with its operations under this Agreement in an amount not less than: 

  

	 	(1)	 $1,000,000 combined single limit per occurrence for bodily injury and property damage. 

 

	 	(2)	 $300,000 combined single limit per occurrence for bodily injury and property damage covering vehicles when
being used by the Lessee off of the AOA. 

  

	 	(C)	 Workers’ Compensation as required by Chapter 440, Florida Statutes. 

The insurance coverages required shall include those classifications, as listed in standard liability insurance manuals, which most nearly
reflect the operations of the Lessee under this Agreement. All insurance policies required pursuant to the terms of this Agreement shall be issued in companies approved to do business under the laws of the State of Florida. Such companies must be
rated no less than “A-” as to management, and no less than “VII” as to strength in accordance with the latest edition of “Best’s Insurance Guide”, published by A.M. Best
Company, Inc., or its equivalent, subject to approval of the County Risk Management Division. 
 11.02 Insurance Certificates
Required: Prior to the commencement of operations hereunder and annually thereafter, the Lessee shall furnish or cause to be furnished certificates of insurance to the Department which certificates shall clearly indicate that: 

 

	 	(A)	 The Lessee has obtained insurance in the types, amounts and classifications as required for strict compliance
with this Article; 

  

	 	(B)	 The policy cancellation notification provisions specify at least 30 days advance written notice of cancellation
to the County, except with respect to war and allied perils coverage which shall be 7 days or such lesser period as is customarily available; and 

  

	 	(C)	 The County is named as an additional insured with respect to the Lessee’s commercial general liability
policies. 

 On said insurance certificates, unless specifically shown to be excluded thereon, commercial general
liability coverage shall include contractual liability, and notification of cancellation shall include notification of material changes in the policies. 

The County reserves the right to require the Lessee to provide such reasonably amended insurance coverage as it deems necessary or desirable,
upon issuance of notice in writing to the Lessee, which notice shall automatically amend this Agreement effective 30 days after such notice. 

  
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 11.03 Compliance: Compliance with the requirements of this Article 11 (Insurance)
shall not relieve the Lessee of its liability under any other portion of this Agreement or any other agreement between the County and the Lessee. 

11.04 Right to Examine: The Department reserves the right, upon reasonable notice, to examine the original or true copies of policies of
insurance (including but not limited to binders, amendments, exclusions, riders and applications) to determine the true extent of coverage. The Lessee agrees to permit such inspection at the offices of the Department. 

11.05 Personal Property: Any personal property of the Lessee or of others placed in the Premises and Airport shall be at the sole risk
of the Lessee or the owners thereof, and the County shall not be liable for any loss or damage, except to the extent such loss or damage was caused by the sole active negligence of the County, as limited by Section 768.28, Florida Statutes.

 ARTICLE 12 
 Use of
Public Facilities 
 The County grants to the Lessee, in common with all others desiring to use the Airport, and only to the extent
necessary or reasonably desirable, so long as such use does not conflict with the County’s operation of the Airport, to carry out the rights granted the Lessee hereunder, the nonexclusive privilege to use the runways, taxiways, roads of egress
and ingress, service roads and such other facilities and improvements as may be now in existence or hereafter constructed for the use of persons lawfully using the Airport; provided, however, that such usage shall, to the extent not included as part
of the Rent, be subject to the payment of nondiscriminatory fees and other charges established by the County. Nothing herein contained shall grant to the Lessee the right to use any leasable space or area improved or unimproved which is leased to a
third party, or which the County has not leased herein. 
 ARTICLE 13 

Termination 
 13.01
Payment Defaults: Failure of the Lessee to make all payments of rentals, fees and charges required to be paid herein when due shall constitute a default, and the County may, at its option terminate this Agreement after seven calendar days
notice in writing to the Lessee unless the default be cured within the notice period. 
 13.02 Insurance Defaults: The County shall
have the right, upon seven calendar days written notice to the Lessee, to terminate this Agreement if the Lessee fails to provide evidence of insurance coverage in strict compliance with Article 11 hereof prior to commencement of operations, or
fails to provide a renewal of said evidence upon its expiration; provided, however, that such termination shall not be effective if the Lessee provides the required evidence of insurance coverage within the notice period. 

13.03 Other Defaults: The County shall have the right, upon 30 calendar days written notice to the Lessee, to terminate this Agreement
upon the occurrence of any one or more of the following, unless the same shall have been corrected within such period, or, if correction cannot reasonably be completed within such 30 day period, in the reasonable discretion of the Department, the
Lessee has commenced substantial corrective steps within such 30 day period and diligently pursues same to completion: 

  
 26 

	 	(A)	 Failure of the Lessee to comply with any covenants of this Agreement, other than the covenants to pay rentals,
fees and charges when due, and the covenants to provide required evidence of insurance coverage. 

  

	 	(B)	 The conduct of any business, the performance of any service, or the merchandising of any product or service not
specifically authorized herein, by the Lessee. 

  

	 	(C)	 Failure of the Lessee to comply with any Environmental Law or Environmental Requirement as those terms are
defined in Article 8.01 of this Agreement. 

 13.04 Habitual Default: Notwithstanding the foregoing, in the event
that the Lessee has frequently, regularly or repetitively defaulted in the performance of or breached any of the terms, covenants and conditions required herein to be kept and performed by the Lessee, in the reasonable opinion of the County and
regardless of whether the Lessee has cured each individual condition of breach or default as provided in Articles 13.01 Payment Defaults), 13.02 (Insurance Defaults) and 13.03 (Other Defaults) hereinabove, the Lessee shall be determined by the
Director to be an “habitual violator.” At the time that such determination is made, the Department shall issue to the Lessee a written notice advising of such determination and citing the circumstances therefor. Such notice shall also
advise Lessee that there shall be no further notice or grace periods to correct any subsequent breach (es) or default(s) and that any subsequent breach (es) or default(s), of whatever nature, taken with all previous breaches and defaults, shall be
considered cumulative and, collectively, shall constitute a condition of noncurable default and grounds for immediate termination of this Agreement. In the event of any such subsequent breach or default, the County may cancel this Agreement upon the
giving of written notice of termination to the Lessee, such termination to be effective upon the tenth day following the date of receipt thereof and all payments due hereunder shall be payable to said date, and the Lessee shall have no further
rights hereunder. 
 13.05 Termination by Abandonment: This Agreement shall be automatically terminated upon the abandonment by the
Lessee of the Premises or the voluntary discontinuance of operations at the Airport for any period of time exceeding 15 consecutive calendar days, unless such abandonment or discontinuance has been caused by strike, labor disturbance, acts of God,
civil disturbance or governmental order that prevents the Lessee’s use of the Premises for the purposes authorized in Article 2 (Use of Premises) hereof. Such termination shall not relieve the Lessee of its rental payment obligation for the
remaining term of the agreement nor does it constitute a waiver by the Lessor of its rights to recover damages for rental payments for the remaining term of the agreement and loss of future rentals. 

13.06 Actions at Termination: 
  

	 	(A)	 The Lessee shall vacate, quit, surrender up and deliver the Premises to the County on or before the termination
date of this Agreement, whether by lapse of time or otherwise. The Lessee shall surrender the Premises in the condition required under Article 4.03 (Maintenance and Repairs) herein, reasonable wear and tear accepted. All repairs for which the Lessee
is responsible shall be completed prior to surrender. The Lessee shall deliver to the Department all keys to the Premises upon surrender. On or before the termination date of this Agreement, except in the instance of termination pursuant to Article
13.05 (Termination for Abandonment), in which event the Lessee shall be allowed up to five calendar days from date of termination, 

  
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and provided that the Lessee is not in default in the payment of any rentals, fees or charges required to be paid herein, the Lessee shall remove all of its personal property from the Premises.
Any personal property of the Lessee not removed in accordance with this Article may be removed by the Department for storage at the cost of the Lessee. Failure on the part of the Lessee to reclaim its personal property within 30 days from the date
of termination shall constitute a gratuitous transfer of title thereof to the County for whatever disposition is deemed to be in the best interest of the County. 

  

	 	(B)	 The Lessee shall, at its expense, take all actions required by Federal, State and local laws, regulations or
codes to remove from the Premises any hazardous substance or environmental contaminant, whether stored in drums, or found in vats, containers, distribution pipe lines, or the like. All such substances and contaminants shall be removed by the Lessee
in a manner approved and authorized by such Federal, State or local laws, regulations or codes. 

  

	 	(C)	 If the County advises the Lessee that it has reasonable grounds to believe that any hazardous substance or
environmental contaminant has been released within the Premises or into the ground under the Premises, during the term of this Agreement or during the terms of any prior leases between the Lessee and the County for the same or substantially the same
Premises, then the Lessee at its expense shall retain an approved environmental consultant to perform whatever environmental assessment may be required to determine the extent of such release. The Lessee shall comply with the recommendations and
conclusions, contingent upon County approval, of such consultant regarding environmental cleanup efforts that may be required, and shall comply with any other clean up requirements imposed on the Lessee by Federal, State or local law, regulations or
codes. 

 13.07 Lien Upon Personal Property: In the event of termination for default or upon termination of this
Agreement by its term, the County shall have a lien upon all personal property of the Lessee to secure the payment of any unpaid rentals, fees and charges accruing under the terms of this Agreement. 

13.08 Right to Show Premises: At any time after the Lessee has been given notice of termination or default, pursuant to this Article 13
(Termination) or other applicable provisions of this Agreement, the County shall have the right to enter on the Premises for the purpose of showing the Premises to prospective tenants or users. 

13.09 County Defaults: This Agreement shall be subject to termination by the Lessee in the event of a default by the County in the
performance of any covenant or agreement herein required to be performed by the County and the failure of the County to remedy same within a reasonable period of time following receipt of written notice from the Lessee of such default. 

13.10 Other Terminations: This Agreement shall be subject to termination by the County or the Lessee in the event of any one or more of
the following: 
  

	 	(A)	 The permanent abandonment of the Airport. 

  
 28 

	 	(B)	 The lawful assumption by the United States Government or any authorized agency thereof, of the operation,
control or use of the Airport, or any substantial part or parts thereof, in such a manner as to substantially restrict the Lessee from operating therefrom for a period in excess of 90 consecutive days, provided that nothing contained herein shall be
deemed to constitute a waiver by the Lessee of any right it may have against the United States to just compensation in the event of any such assumption. 

  

	 	(C)	 The issuance by any court of competent jurisdiction of any injunction in any way substantially preventing or
restraining the use of the Airport, and the remaining in force of such injunction for a period in excess of 90 days. 

ARTICLE 14 
 Special
Conditions 
 14.01 Quality of Services: The Lessee shall furnish the services required and authorized, pursuant to Article 2
(Use of Premises) hereof, on a good, prompt and efficient basis and on a fair, equal and not unjustly discriminatory basis to all users thereof. 

14.02 Nondiscriminatory Prices: The Lessee shall charge fair, reasonable, customary and not unjustly discriminatory prices for each unit
of sale or service; provided, however, that the Lessee may make reasonable, customary and nondiscriminatory discounts, rebates or similar types of price reductions to volume purchasers of the Lessee’s services. 

14.03 County’s Obligations: The Lessee, in recognition of the County’s obligation, pursuant to Section 22 of Part V of
the Federal Aviation Administration’s standard grant assurances, to enforce the provisions of Articles 14.01 (Quality of Service) and 14.02 (Nondiscriminatory Prices) above, agrees that the Department may, from time to time, promulgate
standards, methods and procedures for and monitor and test the provision of services hereunder and may require the Lessee to provide copies of schedules of service charges and the bases for discounts, rebates and similar types of price reductions.
Should the Department determine that the Lessee is not in compliance with the provisions of Articles 14.01 (Quality of Service) and 14.02 (Nondiscriminatory Prices) above, the first such occurrence shall be considered a curable default, pursuant to
Article 13.03 (Other Defaults) hereof, and subsequent occurrence(s) shall be considered a material breach of this Agreement, entitling the County to the remedies provided in this Agreement or by law. 

ARTICLE 15 
 Equal
Employment Opportunity, Nondiscrimination and Affirmative Action 
 15.01 Equal Employment Opportunity: In accordance with Title
14 Code of Federal Regulation (CFR) Part 152 (Affirmative Action Employment Program), the Lessee shall not discriminate against any employee or applicant for employment because of age, sex, race, color, religion, marital status, place of birth or
national origin, ancestry, in accordance with the Americans with Disabilities Act, discriminate against any otherwise qualified employees or applicants for employment with disabilities who can perform the essential functions of the job with or
without reasonable accommodation. The Lessee shall take affirmative actions’ to ensure that applicants are employed and that employees are treated during their employment without regard to age, sex, race, color, religion, marital status, place
of birth or national origin, ancestry, or disability. Such actions include, but not limited to, the following: Employment, upgrading, transfer or demotion, recruitment advertising, layoff or termination, rates of pay or other forms of compensation,
selection for training including apprenticeship. 

  
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 The Lessee agrees to post in conspicuous places, available to employees and applicants for employment,
notices to be provided by the County setting forth the provisions of this equal Employment Opportunity clause. The Lessee shall comply with all applicable provisions of the Civil Rights Act of 1964; Executive Order 11246 issued September 24,
1965, as amended by Executive Order 113155, revised Order No. 4 issued December 1, 1951, as amended, and the Americans with Disabilities Act. The Age Discrimination in Employment Act effective June 12, 1968, Executive Order 13166
issued August 11, 2000, Improving Access to Services for persons with Limited English Proficiency (LEP), the rules, regulations and relevant orders of the Secretary of Labor, Florida Statues § 112.041, §112.042, §112.043 and the
Miami-Dade County Code, Section 11A1 through 13A1, Articles 3 and 4. 
 The Lessee shall assign responsibility to one of its officials to develop
procedures that will assure that the policies of Equal Employment Opportunity and Affirmative Action are understood and implemented. 
 15.02
Nondiscriminatory Access to Premises: The Lessee, for itself, its sub-lessees, successors in interest, assigns, and contractors (herein collectively for this Section 15.02 the “Lessee”), as part of the consideration hereof,
does hereby covenant and agree that (1) no person on the ground of race, color, or national origin, will be excluded from participation in, denied the benefits of, or be otherwise subject to discrimination, in, the use of the premises and
improvements hereunder, (2) that in the construction of any improvements on, over, or under the Premises hereunder, and the furnishing of services herein or thereon, no person on the ground of race, color, or national origin, will be excluded
from participation in, denied the benefits of, or otherwise be subjected to discrimination, (3) that the lessee will use the Premises and improvements in compliance with all other requirements imposed by or pursuant to the FAA List of
Nondiscrimination Acts and Authorities attached hereto as Exhibit R-02. 
 15.03: Breach of
Nondiscrimination Covenants: In the event it has been determined that the Lessee has breached any enforceable nondiscrimination covenants contained in Section 15.01 Equal Employment Opportunity and Section 15.02 Nondiscriminatory
Access to premises above, pursuant to the complaint procedures contained in the applicable Federal Regulations, and the Lessee fails to comply with the sanctions and/or remedies which have been prescribed, the County shall have the right to
terminate this Agreement pursuant to the Termination of the Agreement section hereof. 
 15.04 Nondiscrimination: During the
performance of this Agreement, the Lessee agrees as follows: The Lessee shall, in all solicitations or advertisements for employees placed by or on behalf of the Lessee, state that all qualified applicants will receive consideration for employment
without regard to age, sex, race, color, religion, marital status, place of birth or national origin, ancestry physical handicap or disability. The Lessee shall furnish all information and reports required by Executive Order 11246 issued
September 24, 1965, as amended by Executive Order 113155, and by rules, regulations, and orders of the Secretary of Labor, or pursuant thereto, and will permit access to the Lessee books, records, accounts by the County and Compliance Review
Agencies for purposes of investigation to ascertain by the compliance with such rules, regulations, and orders. In the event of the Lessee’s noncompliance with the nondiscrimination clauses of this Agreement or with any of the said rules,
regulations, and orders, this Agreement may be canceled, terminated, or suspended in whole or in part in accordance with the Termination of Agreement section hereof and the Lessee may be declared ineligible for further contracts in accordance with
procedures authorized in Executive Order 11246 of September 24, 1965, as amended by Executive Order 113155 and such sanctions as may be imposed and remedies invoked as provided in Executive Order 113155 and such sanctions as may be imposed and
remedies invoked as provided in Executive Order 11246 as amended or by rules, regulations, and orders of the Secretary of Labor, or as otherwise provided by law. 

  
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 The Lessee will include Section 15.01 Equal Employment Opportunity and
Section 15.02 Nondiscriminatory Access to Premises of this Article in the Lessee sub-contracts in excess of $10,000.00, unless exempted by rules, regulations or orders of the Secretary of Labor issued
pursuant to Section 204 of Executive Order 11246 issued September 24, 1965, as amended by Executive Order 113155, so that such provisions will be binding upon each sub-consultant. The Lessee shall
take such action with respect to any sub-contract as the County may direct as a means of enforcing such provisions, including sanctions for noncompliance; provided, however, that in the event the Lessee becomes involved in, or is threatened with,
litigation with a sub-consultant as the result of such direction by the County or by the United States, the Lessee may request the United States to enter into such litigation to protect the interests of the
United States. 
 15.05 Disability Nondiscrimination Affidavit: By entering into this Agreement with the County and signing the
Disability Nondiscrimination Affidavit, the Lessee attests that this is not in violation of the Americans with Disabilities Act of 1990 (and related Acts) or Miami-Dade County Resolution No. R-385-95. If the Lessee or any owner, subsidiary or other firm affiliated with or related to the Lessee is found by the responsible enforcement officer of the Courts or the County to be in violation of the
Act or the Resolution, such violation shall render this Contract terminable in accordance with the Termination of Agreement section hereof. This Contract shall be void if the Lessee submits a false affidavit pursuant to this Resolution or the Lessee
violated the Act or the Resolution during the term of this Contract, even if the Lessee was not in violation at the time it submitted its affidavit. 

15.06 Affirmative Action/Nondiscrimination of Employment Promotion and Procurement Practices: (County Code Section 2-8.1.5): In accordance with the requirements of County Code Section 2-8.1.5, all firms with annual gross revenues in excess of $5 million seeking to
contract with Miami-Dade County shall, as a condition of award, have a written Affirmative Action Plan and Procurement Policy on file with the County’s Department of Procurement Management. Said firms must also submit, as a part of their Lease
to be filed with the Clerk of the Board, an appropriately completed and signed Affirmative Action Plan/Procurement Policy Affidavit. 

Firms whose Boards of Directors are representative of the population make-up of the nation are exempt
from this requirement and must submit, in writing, a detailed listing of their Boards of Directors, showing the race or ethnicity of each board member, to the County’s Department of Procurement Management. Firms claiming exemption must submit,
as part of their Lease to be filed with the Clerk of the Board, an appropriately completed and signed Exemption Affidavit in accordance with the County Code Section 2-8.1.5. These submittals shall be
subject to periodic reviews to assure that the entities do not discriminate in their employment and procurement practices against minorities and women/owned businesses. 

It will be the responsibility of each firm to provide verification of their gross annual revenues to determine the requirement for compliance
with the County Code Section. Those firms that do not exceed $5 million annual gross revenues must clearly state so in their Lease. 

  
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 15.07 Title VI Clauses Applicable to this Agreement: 

 

	 	(A)	 The Lessee, for itself, its successors in interest, and assigns, as a part of the consideration hereof, does
hereby covenant and agree, as a covenant running with the land, that (1) no person on the ground of race, color, or national origin, will be excluded from participation in, denied the benefits of, or be otherwise subjected to discrimination in
the use of said facilities, (2) that in the construction of any improvements on, over, or under such land, and the furnishing of services thereon, no person on the ground of race, color, or national origin, will be excluded from participation
in, denied the benefits of, or otherwise be subjected to discrimination, (3) that the Lessee will use the premises in compliance with all other requirements imposed by or pursuant to the Title VI List of Pertinent Nondiscrimination Acts and
Authorities in Article 15.08. 

  

	 	(B)	 With respect to licenses, leases, permits, etc., in the event of breach of any of the above Nondiscrimination
covenants, the County will have the right to terminate the Lease and to enter, re-enter, and repossess said lands and facilities thereon, and hold the same as if the Lease had never been made or issued.

  

	 	15.08	 Title VI List of Pertinent Nondiscrimination Acts and Authorities: 

During the performance of this Lease, the Lessee agrees to comply with the following nondiscrimination statutes and authorities; including but
not limited to: 
  

	 	•	 	 Title VI of the Civil Rights Act of 1964 (42 U.S.C. § 2000d et seq., 78 stat. 252), (prohibits
discrimination on the basis of race, color, national origin); 

  

	 	•	 	 49 CFR part 21 (Non-discrimination In Federally-Assisted Programs of The
Department of Transportation—Effectuation of Title VI of The Civil Rights Act of 1964); 

  

	 	•	 	 The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, (42 U.S.C. § 4601),
(prohibits unfair treatment of persons displaced or whose property has been acquired because of Federal or Federal-aid programs and projects); 

 

	 	•	 	 Section 504 of the Rehabilitation Act of 1973, (29 U.S.C. § 794 et seq.), as amended, (prohibits
discrimination on the basis of disability); and 49 CFR part 27; 

  

	 	•	 	 The Age Discrimination Act of 1975, as amended, (42 U.S.C. § 6101 et seq.), (prohibits discrimination
on the basis of age); 

  

	 	•	 	 Airport and Airway Improvement Act of 1982, (49 USC § 471, Section 47123), as amended, (prohibits
discrimination based on race, creed, color, national origin, or sex); 

  

	 	•	 	 The Civil Rights Restoration Act of 1987, (PL 100-209), (Broadened the
scope, coverage and applicability of Title VI of the Civil Rights Act of 1964, The Age Discrimination Act of 1975 and Section 504 of the Rehabilitation Act of 1973, by expanding the definition of the terms “programs or activities” to
include all of the programs or activities of the Federal-aid recipients, sub-recipients and Lessees, whether such programs or activities are Federally funded or not);

  

	 	•	 	 Titles II and III of the Americans with Disabilities Act of 1990, which prohibit discrimination on the basis of
disability in the operation of public entities, public and private transportation systems, places of public accommodation, and certain testing entities (42 U.S.C. §§ 12131 - 12189) as implemented by Department of Transportation regulations
at 49 CFR parts 37 and 38; 

  
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	 	•	 	 The Federal Aviation Administration’s Non-discrimination statute (49
U.S.C. § 47123 (prohibits discrimination on the basis of race, color, national origin, and sex); 

  

	 	•	 	 Executive Order 12898, Federal Actions to Address Environmental Justice in Minority Populations and Low-Income Populations, which ensures non-discrimination against minority populations by discouraging programs, policies, and activities with disproportionately high and adverse human health or environmental effects
on minority and low-income populations; 

  

	 	•	 	 Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, and resulting
agency guidance, national origin discrimination includes discrimination because of limited English proficiency (LEP). To ensure compliance with Title VI, Lessee must take reasonable steps to ensure that LEP persons have meaningful access to its
programs (70 Fed. Reg. at 74087 to 74100); 

  

	 	•	 	 Title IX of the Education Amendments of 1972, as amended, which prohibits Lessee from discriminating because of
sex in education programs or activities (20 U.S.C. 1681 et seq). 

 ARTICLE 16 

Security and Special Provisions 

16.01 Security: The Lessee acknowledges and accepts full responsibility for (i) the security and protection of the Premises, any
improvements thereon, its equipment and property on the Airport and (ii) all breaches of federal and Lessor security requirements by Lessee’s employees or those persons for whom Lessee has responsibility under Article 16.02, and
(iii) control of access to the AOA through the Premises by persons and vehicles. The Lessee fully understands and acknowledges that any security measures deemed necessary by the Lessee for the protection of said Premises, equipment and property
shall be the sole responsibility of the Lessee and shall involve no cost to the County. Lessee is responsible for compliance by its employees and all others for whom it is responsible with applicable security requirements relating to access, through
Lessee’s Premises or otherwise, to the AOA or any Security Identification Display Area (“SIDA”). All such security measures by the Lessee shall be in accordance with FAR 107, 49 CFR Part 1542 and the Airport Security Plan. 

16.02 Security Identification Display Areas Access - Identification Badges: The Lessee shall be responsible for (i) assuring that
all of Lessee’s employees, and all employees and persons of entities using the Premises or a SIDA on behalf of Lessee (collectively herein, the “SIDA Users”), have appropriate SIDA Identification Badges and comply with all federal and
Lessor security requirements applicable to the Premises and SIDAs, (ii) immediately reporting to MDAD all lost or stolen ID badges of a SIDA User, and (iii) immediately returning the ID badges of any SIDA User that is transferred from the
Airport or terminated from the employ of the Lessee or upon termination of this Agreement. Each employee must complete the SIDA training program conducted by the Department, before an ID badge is issued. The Lessee shall pay, or cause to be paid, to
the Department any fines or penalties imposed on Lessor for a violation of the security requirements by a SIDA User as well as such nondiscriminatory charges, as may be established from time to time, for lost or stolen ID badges and those not
returned to the Department in accordance with this Article. The Department shall have the right to require the Lessee to conduct background investigations and to furnish certain data on such employees before the issuance of ID badges, which data may
include the fingerprinting of employee applicants for the badges. 

  
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 16.03 AOA - Driver Training: Before the Lessee shall permit any employee to operate a
motor vehicle of any kind or type on the AOA, the Lessee shall require such employee to attend and successfully complete the AOA Driver Training Course conducted from time to time by the Department. The privilege of a person to operate a motor
vehicle on the AOA may be withdrawn by the Department for any violation of AOA driving rules. Notwithstanding the above, the Lessee shall be responsible for ensuring that all such vehicle operators possess current, valid, appropriate Florida
driver’s licenses. 
 16.04 Alcohol and Drug Testing: The Lessee acknowledges that the County, as a public agency sponsor under
the provisions of the Airport and Airway Improvement Act of 1982, as amended (the “Act”), has the obligation to establish a drug free workplace and to establish policies and programs to ensure airport safety and security. The Lessee
acknowledges that the Department, on behalf of the County, has the right to require users of the Airport (Lessees, Permittees, Licensees, etc.) to establish reasonable programs to further the achievement of the objectives described herein.
Accordingly, the Lessee shall establish programs for pre-employment alcohol and drug screening for all candidates for employment at the Airport who will as a part of their duties (a) be present on the
AOA; (b) operate a motor vehicle of any type on the AOA; or (c) operate any equipment, motorized or not, on the AOA and for the same or similar screening based upon a reasonable suspicion that an employee, while on duty on the AOA, may be
under the influence of alcohol or drugs. Notwithstanding the above, the Lessee specifically acknowledges that the County, acting through the Department, has the right and obligation to deny access to the AOA and to withdraw AOA driving privileges
from any person who it has a reasonable suspicion to believe is under the influence of alcohol or drugs. 
 16.05 Drug-Free Workplace
Default: The Lessee acknowledges it has provided to the County a Drug-Free Workplace Affidavit certifying that it is providing a drug-free workplace for its employees, as required by County Ordinance
No. 92-15, adopted on March 17, 1992 as amended from time to time (“Ordinance”). Based on the provisions of said Ordinance, the County shall have the right, upon 30 days written notice to
the Lessee, to terminate this Agreement in the event the Lessee fails to provide, as of each anniversary of the effective date of this Agreement, the annual re-certification affidavit as required by the
Ordinance; provided, however, that such termination shall not be effective if the Lessee submits the required Affidavit within the notice period. 

Further, this Agreement shall be terminated upon not less than fifteen calendar days written notice to the Lessee and without liability to the
County, if the Department or the County Manager determines any of the following: 
  

	 	(A)	 That the Lessee has made a false certification in its execution of the Affidavit submitted or in its annual re-certification as required by the Ordinance; 

  

	 	(B)	 That the Lessee has violated its original or renewal certification by failing to carry out any of the specific
requirements of the Ordinance, other than the annual re-certification; or 

  

	 	(C)	 That such a number of employees of the Lessee have been convicted of violations occurring in its workplace(s)
as to indicate that the Lessee has failed to make a good faith effort to provide a drug-free workplace as required by the Ordinance. 

16.06 Special Programs: The Lessee shall ensure that all employees so required participate in such safety, security and other training
and instructional programs, as the Department or appropriate Federal agencies may from time to time require. 

  
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 16.07 Vehicle Permit and Company Identification: Motor vehicles and equipment of the
Lessee operating on the AOA must have an official motor vehicle identification permit issued pursuant to Operational Directives of the Department. In addition, company identification must be conspicuously displayed thereon. 

16.08 Federal Agencies Right to Consent: The Lessee understands and agrees that all persons entering and working in or around arriving
international aircraft and facilities used by the various Federal Inspection Services agencies may be subject to the consent and approval of such agencies. Persons not approved or consented to by the Federal Inspection Services agencies shall not be
employed by the Lessee in areas under the jurisdiction or control of such federal inspection agencies. 
 16.09 AOA - Right to Search:
The Lessee agrees that its vehicles, cargo, goods and other personal property are subject to being searched when attempting to enter or leave and while on the AOA. The Lessee further agrees that it shall not authorize any employee or agent to enter
the AOA unless and until such employee or agent has executed a written consent-to-search form acceptable to the Department. Persons not executing such consent-to-search form shall not be employed by the Lessee at the Airport, in any job requiring access to the AOA. 

It is further agreed that the Department has the right to prohibit an individual, agent or employee of the Lessee from entering the AOA based
upon facts which would lead a person of reasonable prudence to believe that such individual might be inclined to engage in theft, cargo tampering, aircraft sabotage or other unlawful activities. Any person denied access to the AOA or whose prior
authorization has been revoked or suspended on such grounds shall be entitled to a hearing before the Director of the Department or his authorized designee within a reasonable time. Prior to such hearing, the person denied access to the AOA shall be
advised, in writing, of the reasons for such denial. 
 The Lessee acknowledges and understands that these provisions are for the protection
of all users of the AOA and are intended to reduce the incidence of thefts, cargo tampering, aircraft sabotage and other unlawful activities at the Airport. 

16.10 Right of Flight: There is hereby reserved to the County, its successors and assigns, for the use and benefit of the County and the
public, a right of flight for the passage of aircraft in the air space above the surface of the premises herein leased, together with the right to cause in said air space such noise as may be inherent in the operation of aircraft, now known or
hereafter used for navigation of or flight in the air, using said air space for landing at, taking off from or operating on Miami International Airport. 

16.11 Height Restrictions: The Lessee expressly agrees for itself, its successors and assigns, to restrict the height of structures,
objects of natural growth and other obstructions on the leased premises to such a height so as to comply with Federal Aviation Regulations, Part 77 and with the Code of Miami-Dade County, whichever is more restrictive. 

ARTICLE 17 
 Control of
Employees 
 17.01 Control of Employees: Lessee shall properly control the actions of its employees at all times that said
employees are working on the Airport, ensuring that they present a neat appearance and discharge their duties in a courteous and efficient manner and that they maintain a high standard of service to the public. 

  
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 17.02 Lessee’s Responsibility for Employee’s Violations: In the event the
Lessee is in default of the covenants of Article 17.01 (Control of Employees) for failure to properly control its employees or by permitting its employees to improperly use the facilities by the County, the Department shall have the right to require
the Lessee to conduct an investigation into any claimed violation of the covenants; if such investigation substantiates a violation, Lessee agrees to administer the appropriate discipline up to and including discharge of the offending employee. 

ARTICLE 18 
 Civil
Actions 
 18.01 Governing Law; Venue: This Agreement shall be governed and construed in accordance with the laws of the State of
Florida. The venue of any action on this Agreement shall be laid in Miami-Dade County, Florida, and any action to determine the rights or obligations of the parties hereto shall be brought in the courts of the State of Florida. 

18.02 Notice of Commencement of Civil Action: In the event that the County or the Lessee commence a civil action where such action is
based in whole or in part on an alleged breach of this Agreement, the County and the Lessee agree the service of process shall be made pursuant to the rules of Civil Procedure in the court in which the action has been filed. 

18.03 Registered Office/Agent; Jurisdiction: Notwithstanding the provisions of Article 18.02 (Notice of Commencement of Civil Action),
and in addition thereto, the Lessee, if a corporation, shall designate a registered office and a registered agent, as required by Section 48.091, Florida Statutes, such designations to be filed with the Florida Department of State in accordance
with Section 607.0501, Florida Statutes. If the Lessee is a natural person, he and his personal representative hereby submit themselves to the jurisdiction of the Courts of this State for any cause of action based in whole or in part on an
alleged breach of this Agreement. 
 ARTICLE 19 

Trust Agreement 
 19.01
Incorporation of Trust Agreement by Reference: Notwithstanding any of the terms, provisions and conditions of this Agreement, it is understood and agreed by the parties hereto that, to the extent of any inconsistency with or ambiguity
relating to the terms and conditions of this Agreement, and the level of rents, fees or charges required hereunder and their periodic modification or adjustment as may be required by the Amended and Restated Trust Agreement dated as of
December 15, 2002, by and among the County and the JP Morgan Chase Bank as Trustee and the Wachovia Bank, National Association as Co-trustee (the “Trust Agreement”), shall prevail and govern at
all times during the term of this Agreement. Copies of the Trust Agreement are available for inspection in the offices of the Department during normal working hours. 

19.02 Adjustment of Terms and Conditions: If, at any time during the term of this Agreement, a Federal agency or court of competent
jurisdiction shall determine that any of the terms and conditions of this Agreement, including the rentals, fees and charges required to be paid hereunder to the County by the Lessee or by other Lessees under other Agreements of the County for the
lease or use of facilities used for similar purposes, are unjustly discriminatory, the County shall have the right to modify such terms and conditions and to increase or otherwise adjust the rentals, fees and charges required to be paid under this
Agreement in such a manner as the County shall determine is 

  
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necessary and reasonable so that the rentals, fees and charges payable by the Lessee and others shall not thereafter be unjustly discriminatory to any user of like facilities and shall not result
in any violation of the Trust Agreement or in any deficiency in revenues necessary to comply with the covenants of the Trust Agreement. In the event the County has modified the terms and conditions of this Agreement, including any adjustment of the
rentals, fees and charges required to be paid to the County pursuant to this provision, this Agreement shall be amended to incorporate such modification of the terms and conditions including the adjustment of rentals, fees and charges upon the
issuance of written notice from the Department to the Lessee. 
 19.03 Lessee Right to Terminate: In the event the terms and
conditions of this Agreement, including the rentals, fees and charges payable hereunder, have been substantially modified pursuant to Article 19.02 (Adjustment of Terms and Conditions) above, the Lessee, at any time within one year following the
effective date of such modification may terminate this Agreement by giving ninety days written notice to the County, without liability by any party to any other party. 

ARTICLE 20 
 Other
Provisions 
 20.01 No Representation: The County makes no representation, warranty, guarantee, or averment of any nature
whatsoever concerning the physical condition of the Premises, and it is agreed that the County will not be responsible for any loss, damage or costs which may be incurred by the Lessee by reason of any such physical condition, except as to costs
agreed to be reimbursed by County under Article 5.03. 
 20.02 Headings: Any headings preceding the text of any articles, paragraphs
or sections of this Agreement shall be solely for convenience of reference and shall not constitute a part of this Agreement, nor shall they affect its meaning, construction or effect. 

20.03 Interference: The Lessee further expressly agrees to prevent any use of the Premises which would interfere with or adversely
affect the operation or maintenance of the Airport or otherwise constitute an airport hazard. 
 20.04 Authorized Uses Only: The
Lessee shall not use or permit the use of the Airport for any illegal or unauthorized purpose or for any purpose which would increase the premium rates paid by the County on, or invalidate, any insurance policies of the County or any policies of
insurance written on behalf of the Lessee under this Agreement. 
 20.05 Binding Effect: The terms, conditions and covenants of this
Agreement shall inure to the benefit of and be binding upon the parties hereto and their successors and assigns. This provision shall not constitute a waiver of any conditions prohibiting assignment or subletting. 

20.06 Federal Subordination: This Agreement shall be subordinate to the provisions of any existing or future agreements between the
County and the United States of America relative to the operation and maintenance of the Airport, the execution of which has been or may be required as a condition precedent to the expenditure of Federal funds for the development of the Airport. All
provisions of this Agreement shall be subordinate to the right of the United States of America to lease or otherwise assume control over the Airport, or any part thereof, during time of war or national emergency for military or naval use and any
provisions of this Agreement inconsistent with the provisions of such lease to, or assumption of control by, the United States of America shall be suspended. 

  
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 20.07 Notices: All notices required or permitted to be given under the terms and
provisions of this Agreement by either party to the other shall be in writing and shall be hand delivered or sent by registered or certified mail, return receipt requested, to the parties as follows: 

As to the County or Aviation Department: 

Director 
 Miami-Dade County
Aviation Department 
 Post Office Box 025504 

Miami, Florida 33152-5504 
 As to
the Lessee: 
 President: 

Global Crossing Airlines LLC 

600 Brickell Avenue, 19th Floor 

Miami, FL 33131 
 or to such other address as
may hereafter be provided by the parties in writing. Notices by registered or certified mail shall be deemed received on the delivery date indicated by the U.S. Postal Service on the return receipt. Hand delivered notices shall be deemed received by
the Lessee when presented to the local management representative of the Lessee. 
 20.08 Rights Reserved: Rights not specifically
granted the Lessee by this Agreement are reserved to the County. 
 20.09 Rights of County at Airport: The County shall have the
absolute right, without limitation, to make any repairs, alterations and additions to any structures and facilities at the Airport. The County shall, in the exercise of such right, be free from any and all liability to the Lessee for business
damages occasioned during the making of such repairs, alterations and additions, except those occasioned by the sole active negligence of the County, its employees, or agents. 

20.10 Rights to be Exercised by Department: Wherever in this Agreement rights are reserved to the County, such rights may be exercised
by the Department. 
 20.11 No Waiver: There shall be no waiver of the right of either party to demand strict performance of any of
the provisions, terms and covenants of this Agreement nor shall there be any waiver of any breach, default or non-performance hereof by either party, unless such waiver is explicitly made in writing by the
other party. Any previous waiver or course of dealing shall not affect the right of either party to demand strict performance of the provisions, terms and covenants of this Agreement with respect to any subsequent event or occurrence of any
subsequent breach, default or non-performance hereof by the other party. 
 20.12 Right to Regulate: Nothing in this Agreement shall
be construed to waive or limit the governmental authority of the County, as a political subdivision of the State of Florida, to regulate the Lessee or its operations. Notwithstanding any provision of this Agreement, nothing herein shall bind or
obligate the County, the Zoning Appeals Board, the Building and Zoning Department (as it may be renamed from time to time), the Planning Department, or any department, board or agency of the County, to agree to any specific request of the Lessee
that is related in any way to the regulatory or quasi-judicial power of the County; and the County shall be released and held harmless by the Lessee from any liability, responsibility, claims, consequential damages or other damages, or losses
resulting from the denial or withholding of such requests; provided, however, that this provision shall not preclude any appeal from County action wherein the sole remedy sought is reversible of the County’s action or injunctive relief; nor
shall it preclude any action based on the County’s bad faith, capricious behavior or arbitrary action. 

  
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 20.13 Severability: If any provision of this Agreement or the application thereof to
either party to this Agreement is held invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions of this Agreement which can be given effect without the invalid provision, and to this end, the provisions of this
Agreement are severable. 
 20.14 Inspections: The authorized employees and representatives of the County and of any applicable
Federal or State agency having jurisdiction hereof shall have the right of access to the Premises at all reasonable times for the purposes of inspection and testing to determine compliance with the provisions of this Agreement. This right of
inspection and testing shall impose no duty on the County to inspect and shall impart no liability upon the County should it not make any such inspections. 

20.15 Payment of Taxes: The Lessee shall pay all taxes and other costs lawfully assessed against its leasehold interests in the
Premises, its improvements and its operations under this Agreement; provided, however, the Lessee shall not be deemed to be in default of its obligations hereunder for failure to pay such taxes pending the outcome of any legal proceedings instituted
to determine the validity of such taxes. Failure to pay the taxes upon the adverse ultimate conclusion of such legal proceedings against the Lessee shall constitute a default pursuant to Article 13.03 (Other Defaults). 

20.16 Quiet Enjoyment: The Lessee shall control the actions of its employees, agents, invitees and those doing business with it, so as
to not annoy, disturb or be offensive to others and to provide the service hereunder so as to not unreasonably create a nuisance or thing which may disturb the quiet enjoyment of any other users of the Airport. 

20.17 Radon Disclosure: In accordance with Section 404.056, Florida Statutes, the following disclosure is hereby made: 

Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient
quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be
obtained from your county public health unit. 
 20.18 Force Majeure: The terms and conditions of the Agreement (with the exception of
the obligation of the Lessee to pay the amounts required by the terms of this Agreement) shall be subject to “Force Majeure”. Neither the County nor the Lessee shall be considered in default in the performance of its obligations hereunder,
if such performance is prevented or delayed because of unforeseen circumstances due to war, hostilities, revolution, civil commotion, strike, lock-out, epidemic, fire, wind, flood, hurricane, tornado,
lightning, wind damage, or because of any law, order, proclamation, regulation or ordinance of any government or of any subdivision thereof because of any act of god or any other cause whether of similar or dissimilar nature beyond the reasonable
control of the party affected, provided that notice of such force majeure is given by the affected party to the other within ten (10) days of the beginning of said force majeure. Should one or both of the parties be prevented from fulfilling
their contractual obligation by a state of force majeure lasting continuously for a period of six (6) months, the parties shall consult with each other regarding the implementation of the Agreement. Notwithstanding the foregoing, the prevention
or delay of performance caused by the coronavirus disease 2019 (COVID-19) shall in no way be deemed by Lessee as a condition subject to Force Majeure. 

  
 39 

 20.19 Destruction of Premises: In the event the Premises shall be destroyed or so
damaged or injured by fire, windstorm, flood or other casualty (and in each such event the Lessee was not at fault in whole or in part) during the life of this Agreement that the Premises or any portion thereof are rendered untenantable, the County
shall have the right, but not the obligation, to render said Premises or damaged portion thereof tenantable by repairs completed within a reasonable period of time. 
  

	 	(A)	 Total Destruction: In the event the County elects not to render the Premises tenantable, if destroyed or
damaged in their entirety, the Lessee shall be so notified in writing by the Department, and this Agreement shall be deemed terminated as of the date of the casualty, with the Lessee being liable only for payment of rentals on a pro rata basis as to
whatever portion(s) of the Premises which were tenantable and used by the Lessee following the casualty. In such event, the Department shall endeavor to find adequate replacement premises for the Lessee in existing facilities on the Airport.

  

	 	(B)	 If the damaged portion of the Premises is not rendered tenantable by the County within a reasonable period of
time, and the Lessee shall determine that: 1) the loss of the damaged portion of the Premises shall have a materially adverse impact on the ability of the Lessee to utilize the Premises for the purposes described in Article 2; or 2) would require
the Lessee to obtain other space off the Premises in order to substantially conduct the operations of the Lessee originally conducted within the Premises, then, in either such event, upon written notice to the County, the Lessee may cancel this
Agreement as of a date which shall be not later than one year from the giving of such notice, if the repairs are not completed within 90 days following such written notice of intent to cancel, or if the repairs cannot be reasonably completed within
such 90-day period the County has not commenced repairs within such time. In the event of cancellation, the rent for the untenantable portion of the Premises shall be paid only to the date of such fire,
windstorm, flood, or other casualty. If the Agreement is not canceled following any such casualty, the rent shall be abated as to the portion of the Premises rendered untenantable. If the casualty was caused in whole or in part by the Lessee, its
officers, employees, agents, contractors or Trespassers, then the Lessee shall not have the right to terminate this Agreement and shall be responsible under other provisions of this Agreement for payment to the County of all damage to the Premises,
plus the loss of rentals attributable to the damaged or destroyed premises. 

 20.20 Quiet Enjoyment: Subject to the
terms of this Agreement, specifically including, but not limited to, environmental remediation steps to be taken under Article 8, the County’s right and obligation to make certain repairs, alterations, and additions under Articles 5
(Maintenance by County) and 20.09 (Rights of County at Airport), which, for purposes of this clause, includes any and all demolition, in whole or in part, of buildings and runways, and roadway systems on or off the Airport, and the reservation of
easement rights to the airspace under Article 16.10 (Right of Flight), all of which provisions and others in this Agreement, the Lessee acknowledges may cause disruption and disturbance to the Lessee, and upon the observance by the Lessee of all the
terms, provisions, covenants, and conditions imposed upon the Lessee hereunder, the Lessee shall peaceably and quietly hold and enjoy the Premises for the term of this Agreement; provided, however, that the County shall not be liable for any
violation of this clause or for any disturbance or disruption in or to the Lessee’s business, for acts or omissions of tenants, users of the Airport, third parties or when any department or agency of the County is acting in its governmental
capacity or by Acts of God. 

  
 40 

 20.21 Interpretation of Agreement: This Agreement is the result of negotiation
between the parties hereto and has been typed/printed by one party for the convenience of both parties, and the parties covenant that this Agreement shall not be construed in favor of or against any of the parties hereto. 

20.22 Entirety of Agreement: The parties hereto agree that this Agreement sets forth the entire agreement between the parties, and there
are no promises or understandings other than those stated herein. None of the provisions, terms and conditions contained in this Agreement may be added to, modified, superseded or otherwise altered, except as may be specifically authorized herein or
by written instrument executed by the parties hereto. 

  
 41 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
appropriate officials as of the date first above written. 
  
 

 
 BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA Date: 12/1/21 By: Deputy Aviation Director Date: 12/20/21 ATTEST: Harvey
Ruvin, Clerk By: LESSEE: Global Crossing Airlines, LLC. Date: Oct. 29, 2021 Approved as to form By: President Print Name Assistant County Attorney ATTEST: Corporate Secretary Print Name 

  
 42 

 (ARTICLE 8.08) 

Pursuant to Section 8.08, the tenant intends to use the following hazardous materials in the operations within their leasehold, which are subject to
approval from the Miami-Dade Aviation Department (MDAD). Note this exhibit, including MDAD’s approval, shall be part of the final Lease Agreement documentation. 

PRODUCT
NAME                                        
                                         
                                         
                                         
            
  

	 	•	 	 NAME OF
MANUFACTURER                                       
                                         
                                         
                          

  

	 	•	 	 CHEMICAL ABSTRACTS SERVICE (CAS) REGISTRY NUMBER (IF AVAILABLE) FOR EACH HAZARDOUS INGREDIENT IN THE PRODUCT

  

                       
                                         
                                         
                                         
                           

MDAD APPROVAL (CIVIL ENVIRONMENTAL ENGINEERING DIVISION) 

                       
                                        
                                         
                                        
                     

  
 43 

 EXHIBIT – K-13 

(ARTICLE 8.13: Periodic Environmental Audits) 

Miami-Dade Aviation Department 

Civil Environmental Engineering Division 

TENANT AUDIT SUMMARY MINIMUM REQUIREMENTS 

Environmental Compliance Audit: 
 The audits shall conform
with the most current ASTM standard E-2107. At a minimum the audit scope shall include the areas listed below, detailed visual inspection of the tenant leasehold and operations; a review of documents made
available by the facility; interviews with knowledgeable site representatives; the completion of a detailed compliance audit questionnaire; photographic documentation of selected site conditions; and any
follow-up visits. 
 Areas of Concern: 

 

	 	•	 	 Environmental Management Systems 

 

	 	•	 	 Air Emissions 

  

	 	•	 	 Asbestos and Polychlorinated Biphenyls (PCBs) 

 

	 	•	 	 Hazardous Materials and Waste 

 

	 	•	 	 Oil Pollution Management 

 

	 	•	 	 Pesticides 

  

	 	•	 	 Solid Waste 

  

	 	•	 	 Storage Tanks 

  

	 	•	 	 Water Supply and Wastewater 

Documentation: 
  

	 	•	 	 Permits, Licenses, Certifications, etc. 

 

	 	•	 	 All regulatory activities by any environmental agency. 

 

	 	•	 	 Standard Operating Procedures (SOPs) 

 

	 	•	 	 Best Management Practices (BMPs) 

 

	 	•	 	 Emergency Response (spills, etc.) 

 

	 	•	 	 SPCC Plan, if required 

 

	 	•	 	 Dangerous Goods 

  

	 	•	 	 Employees Training Programs and Records. 

  
 44 

 EXHIBIT R-02 

FAA List of non-discrimination federal statutes 

(ARTICLE 15.02) 
  

	 	A6.3.6	 Title VI List of Pertinent Nondiscrimination Acts and Authorities 

Title VI List of Pertinent Nondiscrimination Acts and Authorities 

During the performance of this contract, the contractor, for itself, its assignees, and successors in interest (hereinafter referred to as the
“contractor”) agrees to comply with the following non-discrimination statutes and authorities; including but not limited to: 
  

	 	•	 	 Title VI of the Civil Rights Act of 1964 (42 U.S.C. § 2000d et seq., 78 stat. 252), (prohibits discrimination on the basis of race, color, national origin); 

  

	 	•	 	 49 CFR part 21 (Non-discrimination In Federally-Assisted Programs of The
Department of Transportation—Effectuation of Title VI of The Civil Rights Act of 1964); 

  

	 	•	 	 The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, (42 U.S.C. § 4601),
(prohibits unfair treatment of persons displaced or whose property has been acquired because of Federal or Federal-aid programs and projects); 

 

	 	•	 	 Section 504 of the Rehabilitation Act of 1973, (29 U.S.C. § 794 et seq.), as amended,
(prohibits discrimination on the basis of disability); and 49 CFR part 27; 

  

	 	•	 	 The Age Discrimination Act of 1975, as amended, (42 U.S.C. § 6101 et seq.), (prohibits discrimination
on the basis of age); 

  

	 	•	 	 Airport and Airway Improvement Act of 1982, (49 USC § 471, Section 47123), as amended, (prohibits
discrimination based on race, creed, color, national origin, or sex); 

  

	 	•	 	 The Civil Rights Restoration Act of 1987, (PL 100-209), (Broadened the
scope, coverage and applicability of Title VI of the Civil Rights Act of 1964, The Age Discrimination Act of 1975 and Section 504 of the Rehabilitation Act of 1973, by expanding the definition of the terms “programs or activities” to
include all of the programs or activities of the Federal-aid recipients, sub-recipients and contractors, whether such programs or activities are Federally funded or not); 

 

	 	•	 	 Titles II and III of the Americans with Disabilities Act of 1990, which prohibit discrimination on the basis of
disability in the operation of public entities, public and private transportation systems, places of public accommodation, and certain testing entities (42 U.S.C. §§ 12131 - 12189) as implemented by Department of Transportation regulations
at 49 CFR parts 37 and 38; 

  

	 	•	 	 The Federal Aviation Administration’s Non-discrimination statute (49
U.S.C. § 47123) (prohibits discrimination on the basis of race, color, national origin, and sex); 

  

	 	•	 	 Executive Order 12898, Federal Actions to Address Environmental Justice in Minority Populations and Low-Income Populations, which ensures non-discrimination against minority populations by discouraging programs, policies, and activities with disproportionately high and
adverse human health or environmental effects on minority and low-income populations; 

  

	 	•	 	 Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, and resulting
agency guidance, national origin discrimination includes discrimination because of limited English proficiency (LEP). To ensure compliance with Title VI, you must take reasonable steps to ensure that LEP persons have meaningful access to your
programs (70 Fed. Reg. at 74087 to 74100); 

  

	 	•	 	 Title IX of the Education Amendments of 1972, as amended, which prohibits you from discriminating because of sex
in education programs or activities (20 U.S.C. 1681 et seq). 

  

 

					
	Required Contact Provisions	  	Issued on January 29, 2016	  	Page 23
	AIP Grants and Obligated Sponsors	  	Airports (ARP)	  	

  
 45 

 

 
 BLDG.# 919—Fourth Floor key map Q CODE: SPACE CLASS SQ. FT. MIAMI DADE 13,311 AVIATION DEPARTMENT A/C Office space 13,311 MIAMI
INTERNATIONAL AIRPORT EXHIBIT D GLOBAL CROSSING 

 

 
 3,311 AIRLINES INC 
SCALE: 1/32” = 1-0” FILE#: 8436 DATE: 11/01/2021 
D#89191106 
2,234 S.F 
| 822S.F. 
BLDG.# 519—First Floor 
CODE: SPACE CLASS SQ. FT. MIAMI DADE 
A/C Office space 2 234 AVIATION DEPARTMENT 
MI INTERNATIONAL AIRPORT 
Loading Platform space 822     
EXHIBIT A 
GLOBAL CROSSING 
3,056 AIRLINES INC 
SCALE: 1/32” =1-0” FILE#: 14994 DATE: 11/01/2021 

 

 
 ID#22-27S11

Airfield Al 
CODE: SPACE CLASS SQ. FT. MIAMI DADE 
sisraei 3 000 AVIATION DEPARTMENT 
AlrSide Vehlcuiar Pavemeni 3,000 MIAMI
INTERNATIONAL AIRPORT 
EXHIBIT P 
GLOBAL CROSSING 
3000 AIRLINES INC 
SCALE: N.T.S. FILE#: 15179 DATE: 11/01/2021

 

 
 BLDG.# 918—Fourth Floor 
CODE: SPACE CLASS SQ.
FT. MIAMI DADE 
3 832 AVIATION DEPARTMENT 
ZZz| A/C Office space 3,832 MIAMI
INTERNATIONAL AIRPORT 
EXHIBIT D 
GLOBAL CROSSING 
3,832 AIRLINES INC 
SCALE: 1/32” = 1’-0”
FILE#: 15505 DATE: 11/01/2021     
  

 EXHIBIT Y 
  

			
	MIAMI-DADE COUNTY, FLORIDA	  	AVIATION DEPARTMENT – FACILITIES DIVISION

  

 TENANT AIRPORT CONSTRUCTION NON-REIMBURSABLE (TAC-N) PROJECTS 
 PURPOSE 

To provide details for the initiation and management of a Tenant Airport Construction Program non-reimbursable project. 

 

			
	DEFINITIONS
	FAA	  	Federal Aviation Administration
	A/E	  	Tenant’s State Registered Architect or Engineer responsible for the design of the project.
	BCC	  	Board of County Commissioners
	GSA	  	General Services Administration
	MARC	  	Miscellaneous Asbestos Recovery Contract
	MCC/TAC	  	Miscellaneous Construction Contract/Tenant Airport Construction
	MDAD	  	Miami Dade Airport Aviation
	NTP	  	Notice to Proceed
	PM	  	Project Manager
	TAC-N	  	Tenant Airport Construction Non-Reimbursable Project
	Tenant	  	Business Partner, Lessee

 GENERAL INFORMATION 

Summary of Department Process for Design and Construction of TAC-N Projects 

When an airport tenant wishes to improve or expand a leasehold area, the tenant must contact the MDAD Manager, Properties and Commercial
Operations to discuss the proposed improvement or expansion. The Manager, Properties and Commercial Operations or designee determines whether the proposed design and construction will be a reimbursable or a
non-reimbursable project. 
 If the determination is that the proposed design and construction are non-reimbursable, the tenant must submit a letter to MDAD requesting approval to design and construct the project, detailing the proposed construction and providing a proposed schedule and cost estimate. 

The Manager, Properties and Commercial Operations or designee prepares a Quick Check Form and forwards it to the MDAD Manager, Planning, the
MDAD Design Chief, the MDAD Manager, Maintenance Engineering, the MDAD Manager, Terminal Facilities, and others as appropriate, for review and approval. The following documents, at a minimum, are attached to the form: 

 

	 	•	 	 Tenant’s Letter to MDAD requesting MDAD to approve the project shall include the following attachments:

  

	 	•	 	 Conceptual drawings/sketches 

 

	 	•	 	 Completed Tenant Project Information Sheet providing the following information: 

 

	 	•	 	 Project Name 

  

	 	•	 	 Scope of Work (project description) 

 

	 	•	 	 Project Cost (tenant’s estimate) broken down between design and construction 

 

	 	•	 	 Tenant’s Name and Contact Person’s name and telephone numbers 

 

	 	•	 	 A/E of Record Name and Contact Person’s name and telephone numbers 

 

	 	•	 	 Contractor Name and Contact Person’s name and telephone numbers 

 

	 	•	 	 Verification that the Tenant has been instructed on insurance responsibilities and MDAD TAC-N procedures and requirements 

  
  

			
	FD0-111-P 9/02 (Revised 7/19)	  	Page 1 of 6

 EXHIBIT Y 
  

			
	MIAMI-DADE COUNTY, FLORIDA	  	AVIATION DEPARTMENT – FACILITIES DIVISION

  

 The Manager, Planning ensures that the project is assigned a Project Number in accordance
with Facilities Division Procedure FD1-020. 
 If the listed Managers or designees approve the Quick
Check Form and the project does not require approval by the Miami-Dade Board of County Commissioners (BCC), the Manager, Properties and Commercial Operations issues a Concept Approval Letter to the tenant, advising the tenant to proceed with the
project and addressing compliance with the MDAD Design Guidelines as applicable and compliance with the TAC-N design and construction procedures. The Manager, Properties and Commercial Operations forwards
copies of the letter to the Assistant Aviation Director, Facilities Development, the Manager, Planning, and the MCC/TAC Chief, copying all attachments to the MCC/TAC Chief. 

If the project requires approval by the Miami-Dade Board of County Commissioners (BCC), the Manager, Properties and Commercial Operations
prepares the necessary documentation for presentation to the BCC requesting an amendment to the existing lease and to authorize the project. 

Upon approval by the BCC, the Manager, Properties and Commercial Operations will send a letter, attaching copies of the executed lease
amendment, the County Manager’s memorandum, and the BCC resolution to the tenant advising the tenant to proceed with the project in accordance with the terms of the lease as approved by the BCC. The letter will constitute the Hand Off to the
Facilities Division. 
 PROCEDURES for DESIGN and CONSTRUCTION 

Upon receipt of the copy of the letter from Properties to the tenant, the MCC/TAC Chief shall prepare a New Project Memorandum providing
details and requirements of the project and designating a TAC-N Project Manager. 
  

	1.	 The TAC-N Project Manager shall contact the tenant to review the design and construction process.

  

	2.	 It is the responsibility of the tenant through its Architect/Engineer (A/E) and/or Contractor to:

  

	 	•	 	 Obtain copies of relevant as-built drawings from MDAD Technical Support
Division (305-876-7057) 

  

	 	•	 	 Verify field conditions, including but not limited to electrical, mechanical, HVAC, plumbing, water, sewer,
structural, and connecting points for all utilities, HVAC, fire protection, and smoke evacuation systems. 

  

	 	•	 	 Ensure that if the project is located at the MIA Terminal Complex, the design is in compliance with the MDAD
Design Guidelines Manual (found at www.miami-airport.com). Exception: projects in the cargo areas and at the General Aviation Airports need only meet civil work Design Guidelines or as noted as per the terms of the lease.

  

	 	•	 	 Obtain an MDAD Miscellaneous Asbestos Recovery Contract Status Report for the project from MDAD Environmental
Engineering Division (305-876-8326). 

  

	 	•	 	 Coordinate schedules and locations for material deliveries to MIA with MDAD Landside Operations Division (305-876-7086). 

  

	 	•	 	 Coordinate schedules and construction activities at MIA with MDAD Terminal Operations Division (305-876-7082). 

  

	 	•	 	 Coordinate airside access at MIA with MDAD Airside Operations Division (305-876-7482). 

  

	 	•	 	 Coordinate MIA identification badging and security orientation requirements with MDAD Safety and Security
Operations Division (306-876-4028). 

  

	 	•	 	 Coordinate utility information and issues, including shutdown procedures, with MDAD Maintenance Engineering (305-876-7477). 

  
  

			
	FD0-111-P 9/02 (Revised 7/19)	  	Page 2 of 6

 EXHIBIT Y 
  

			
	MIAMI-DADE COUNTY, FLORIDA	  	AVIATION DEPARTMENT – FACILITIES DIVISION

  

	 	•	 	 Coordinate requirements and specific procedures for obtaining Miami-Dade Department of Environmental Resources
Management (DERM) and Florida Department of Environmental Protection (DEP) permits and for dewatering, excavating, trenching, stockpiling, maintenance and disposal of contaminated material activities with the MDAD Environment and Airport Engineering
Division (305-869-1063). 

  

	 	•	 	 Each sheet of the construction plans shall be identified with a title box that includes the following
information: 

  

					
	PROPERTY OWNER:                     MIAMI-DADE AVIATION
DEPARTMENT                                        

	ADDRESS:                                   
          P O. BOX 592075, MIAMI, FLORIDA
33159-2075                             
	TAC-N PROJECT
MANAGER:                                       
                                         
                                         
 
	TAC-N PROJECT MANAGER PHONE:
                                        
    FAX
No.                                       
              
	PROJECT
OWNER/LESSEE:                                       
                                         
                                         
   
	ADDRESS:                                   
                                         
                                         
                                       
	TENANT PROJECT MANAGER:
                                         
                                         
                                   
	TENANT PROJECT
MANAGER                                        
                                         
                                      
	PHONE:                                   
                                         
                  FAX No.
                                         
             

  

	3.	 The TAC-N Project Manager shall determine at what design phase how many
sets of construction documents shall be submitted for review. 

  

	4.	 The tenant or its A/E shall submit the required number of sets of documents to the TAC-N Project Manager. 

  

	5.	 The TAC-N Project Manager shall forward document sets to pre-determined reviewers. The documents shall be attached to a TAC-N Design Review Memorandum (Facilities Division Form FD3-061). The
memorandum shall identify at what percent completion the drawings are and by what date review comments must be returned. 

  

	6.	 Concurrently to sending the review package the TAC-N Project Manager
shall forward by email to the reviewers Chief a Design Review Transmittal (Facilities Division Form FD3-009), notifying them of the review process. 

 

	7.	 The TAC-N Project Manager shall submit the sets of Construction
Documents to Consultants and MDAD staff for in-house Design Review. This process has a duration of fourteen (14) calendar days. The Reviewers will fax any issues/comments directly to the tenants’ A/E
of Record and to the TAC—N Project manager within (14) calendar days of receipt of the plans. The tenant or tenants’ A/E shall confirm receipt of all Review Comments with the TAC-N Project
Manager. 

  

	8.	 The TAC-N Project Manager shall ensure that comments and issues
introduced by reviewers are discussed and resolved. 

  

	9.	 The tenant must submit for back-check, three sets of 100% construction documents with all reviewer- required
changes incorporated. One of these sets must have the A/E of Record’s signature and seal on every design sheet. 

  

	10.	 The 100% construction drawings submitted for back-check must be accompanied with notarized letter to the TAC-N Project Manager on the A/E’s company’s letterhead requesting a TAC-N Letter of Concurrence to be provided to the tenant (Facilities Division Form FD5-017). The A/E’s letter must contain the following two paragraphs verbatim: 

This letter will serve as our request for the issuance of your TAC-N Letter of Concurrence for the
above referenced project that will allow the tenant to apply for a Building Permit. 

  
  

			
	FD0-111-P 9/02 (Revised 7/19)	  	Page 3 of 6

 EXHIBIT Y 
  

			
	MIAMI-DADE COUNTY, FLORIDA	  	AVIATION DEPARTMENT – FACILITIES DIVISION

  

 As the tenant’s Architect/Engineer of Record, we have satisfied all comments and issues
originating from the TAC-N Design Review process by means of revisions to the 100% Construction Documents. These revisions will produce a project in compliance with all MDAD and FAA requirements. Further, we
realize that the final responsibility for the design and compliance with all applicable codes, standards, and ordinances rests solely with the tenant’s Architect/Engineer of Record. 

 

	11.	 The TAC-N Project Manager shall advise the tenant of the Miami-Dade
General Services Administration (GSA) Risk Management Division insurance requirements. Prior to the issuance of the MDAD Letter of Concurrence to the tenant, execution of contract documents by the tenant and its contractor, the tenant shall provide
copies of all of the contractor’s certificates of insurance to the TAC-N Project Manager who shall request MDAD Risk Management to review them. Upon satisfactory review and compliance with item thirteen
(13) below, the MDAD Letter of Concurrence will be issued, unless there are more requirements as identified in item fourteen (14) below. 

  

	12.	 The TAC-N Project Manager shall review the submitted documents. The
reviewers will be asked to sign a TAC-N Design Review 100% Back Check Form (Facilities Division Form FD3-062) indicating that their comments have been complied with and
incorporated into the revised 100% final documents. It is the responsibility of the tenant’s Consultants to obtain the reviewer’s signature on the 100% back-check form. 

 

	13.	 For those TAC-N projects that require an amended Lease Agreement and as
per the terms of the lease, the following documents must be submitted prior to the issuance of the Letter of Concurrence and prior to construction. 

  

	 	a)	 Performance and Payment Bonds in compliance with the terms of the Lease 

 

	 	b)	 Copy of the Building Permit 

 

	 	c)	 The Environmental Insurance Policy, as applicable. 

 

	 	d)	 A check in the amount that represents 1% of the budgeted construction hard costs for reimbursement of MDAD
Building Department fees. 

  

	 	e)	 Contract completion bond as applicable. 

 

	 	f)	 Insurance required. 

  

	14.	 Once all reviewers have signed the TAC-N Design Review 100% Back Check,
the MCC/TAC Chief shall issue a Letter of Concurrence (Facilities Division Form FD5-017) enabling the tenant to apply for a building permit. Absent the signature of the 100% back-check form indicating
incorporation of the reviewer’s comments in the back-check drawings, and all the requirements as listed in items twelve (12) thirteen (13) and fourteen (14), the Letter of Concurrence will not be issued. The Letter of
Concurrence will be valid for sixty (60) calendar days from date of issue. If the tenant or A/E of Record has not applied for a building permit within sixty (60) calendar days, a new Letter of Concurrence will have to be issued. The tenant
must request the new Letter of Concurrence from the TAC-N Project Manager. 

  

	15.	 The tenant shall complete a Building Permit Application and submit it to the Miami-Dade Building Department
Satellite Office on the First Floor of Miami International Airport Building 3030 (4331 NW 22 Street, Suite B-130, Miami FL 33159). The Letter of Concurrence, a copy of the Miscellaneous Asbestos Recovery
Contract (MARC) report, if required, and two (2) signed and sealed permit sets of the project 100% construction documents must be attached to the application. The Satellite Office may be reached at 305-869-1081. 

  

	16.	 The tenant shall select a contractor to perform the work. 

  
  

			
	FD0-111-P 9/02 (Revised 7/19)	  	Page 4 of 6

 EXHIBIT Y 
  

			
	MIAMI-DADE COUNTY, FLORIDA	  	AVIATION DEPARTMENT – FACILITIES DIVISION

  

	17.	 The TAC-N Project Manager shall complete a Wrap-Up Insurance Program Notification of Contract Award (Facilities Division Form FD5-031, if applicable) and forward it to the
Wrap-Up Insurance Program Broker, the Manager, Properties and Commercial Operations, MDAD Risk Management, Thereafter the TAC-N Project Manager issues a Notice to
Proceed. 

  

	18.	 Prior to commencement of construction, the tenant shall submit copies of the Construction Schedule, the Design
and Construction Budget, and the Building Permit to the TAC-N Project Manager. The tenant must also provide any revisions to these documents to the TAC-N Project Manager
as they are issued. 

  

	19.	 The TAC-N Project Manager shall determine, based on the complexity and
magnitude of the project, if a pre-construction meeting should be held and if regularly scheduled construction meetings are required. If required, the frequency of construction meetings will be based on the
complexity and duration of the project. The tenant’s A/E and contractor, the TAC-N Project Manager, or designee, and others, as may be required, will attend the construction meetings.

  

	20.	 The TAC-N Project Manager, or designee, shall periodically visit the
jobsite. The permit set of drawings must be available on the construction site at all times. 

  

	21.	 Depending on a project’s complexity, at project completion a walk-through may be scheduled and coordinated
by the TAC-N Project Manager. 

  

	22.	 Unless otherwise agreed, the tenant must submit to the TAC-N Project
Manager copies of the following documents at project completion: 

  

	 	•	 	 Signed off Building Permit Inspection (within twenty-four hours of issue) 

 

	 	•	 	 Certificate of Occupancy or Certificate of Completion (within twenty-four hours of issue) 

 

	 	•	 	 Warranties, manuals, instructions, etc. for any equipment that will be maintained by MDAD 

 

	 	•	 	 As-Built drawings (record drawings) on bond paper, signed and sealed by
the tenant’s Architect of Record within thirty (30) days from issue of the Certificate of Occupancy or Completion. Depending on the size or complexity of the project, the tenant may be requested to provide the as-builts as mylar drawings, 35mm aperture cards, or digital files. 

  

	23.	 When the Certificate of Occupancy has been issued and all As-Built
Records have been transferred to MDAD Technical Support Division, the TAC-N Project Manager and tenant shall close the project. 

COUNTY REQUIRED CONSTRUCTION CODES TENANT MUST ADHERE TO (IF APPLICABLE): 

Sec. 2-11.15.- Works of art in public places: 

Art in Public Places (“APP”) provisions of the Miami-Dade County Code and Administrative Order, as managed by the Miami-Dade County
Department of Cultural Affairs (“Department of Cultural Affairs”) pursuant to Procedure 358 in the Miami-Dade County Procedures Manual (“Procedures Manual”) provides that the Tenant/Developer shall transmit 1.5% of the Project
costs for all development on County land (as outlined in the Procedures Manual) to the Miami-Dade Aviation Department to be deposited in the Aviation Art in Public Places Trust Account for the implementation of the APP program. The Tenant/Developer
is required to work collaboratively with the Department of Cultural Affairs on the implementation of the APP program pursuant to the requirements of said program. 

  
  

			
	FD0-111-P 9/02 (Revised 7/19)	  	Page 5 of 6

 EXHIBIT Y 
  

			
	MIAMI-DADE COUNTY, FLORIDA	  	AVIATION DEPARTMENT – FACILITIES DIVISION

  

 Sec. 2-11.16. - County construction contracts:

 Lessee is aware of the policy of Miami-Dade County that in all leases of County-owned land which provide for privately funded construction
improvements thereon whose construction costs are greater than or equal to $5 million dollars, or construction improvements where any portion of 

which are financed by any federal, state or local governmental entity or by bonds issued by such entities, including the Industrial
Development Authority (IDA), the Tenant shall include the requirements of the Responsible Wages Ordinance codified as Section 2-11.16 of the Miami-Dade County Code, as well as Implementing Order #3-24 in all applicable construction contracts. Lessee agrees to comply with all applicable provisions of such ordinance and implementing order. 

Sec. 2-11.17. - Residents First Training and Employment Program: 

In accordance with this section of the Miami-Dade County Code, all contractors/subcontractors of any tier performing on a contract for
(i) the construction, demolition, alteration and/or repair of public buildings or public works valued in excess of $1,000,000 funded completely or partially by Miami-Dade County, or (ii) privately funded projects or leases valued in excess
of $1,000,000 for the construction, demolition, alteration or repair of buildings or improvements located on County-owned land, and which are subject to Section 2-11.16 of the Code of
Miami-Dade County shall comply with the requirements of the Resident First and Employment Program. 
  

	 	i.	 Prior to working on the project, all persons employed by the contractor/subcontractor to perform construction
shall have completed, the OSHA 10 Hour safety training course established by the Occupational Safety & Health Administration of the United States Department of Labor. Such training does not need to be completed at the time of bidding but
shall be completed prior to the date persons are employed on the project. 

  

	 	ii.	 The contractor/subcontractor will make its best reasonable efforts to promote employment opportunities for
local residents and seek to achieve a project goal of having fifty-one percent (51%) of all Construction Labor hours performed by Miami-Dade County residents. To verify workers’ residency, firms shall
require each worker to produce a valid driver’s license or other form of government-issued identification. 

  

					
	ASSOCIATED FORMS
			
	1.	  	Facilities Division Form FD3-009	  	Design Review Transmittal
			
	2.	  	Facilities Division Form FD3-061	  	TAC-N Design Review Memorandum
			
	3.	  	Facilities Division Form FD3-062	  	TAC-N 100% Back Check Sign-off Sheet
			
	4.	  	Facilities Division Form FD5-017	  	TAC-N Concurrence Letter
			
	5.	  	Facilities Division Form FD5-031	  	Wrap-Up Insurance Program Notification of Contract Award

  
  

			
	FD0-111-P 9/02 (Revised 7/19)	  	Page 6 of 6

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