Document:

Suspension of Rights & Amendment Agreement

 Exhibit 10.1 
  
 EXECUTION VERSION 
  
 SUSPENSION OF RIGHTS AND AMENDMENT AGREEMENT 
  
 among 
  
 UNION POWER PARTNERS, L.P., 
 a Delaware limited partnership 
 (El Dorado Borrower) 
  
 PANDA GILA RIVER, L.P., 
 a Delaware limited partnership 
 (Gila River Borrower) 
  
 TECO ENERGY, INC., 
 a Florida corporation 
 (TECO) 
  
 CITIBANK, N.A. 
 (Administrative Agent for the Banks) 
  
 and 
  
 SOCIETE GENERALE, 
 (LC Bank) 
  

  
 TABLE OF CONTENTS

  

	 	  	 	  	Page

		
	 ARTICLE 1 DEFINITIONS
	  	3
		
	 ARTICLE 2 SUSPENSION OF RIGHTS/ AMENDMENTS TO CREDIT AGREEMENTS AND TECO GUARANTY DOCUMENTS
	  	3
			
	 2.1
	  	 Suspended Rights
	  	3
	 2.2
	  	 Amendments to Credit Agreements
	  	4
		
	 ARTICLE 3 ADDITIONAL AGREEMENTS
	  	5
			
	 3.1
	  	 No Reimbursements of Equity Contributions/Undertakings Payments
	  	5
	 3.2
	  	 Consultant Fees/Oral Report
	  	5
	 3.3
	  	 Energy Management Evaluation Process Reports
	  	6
	 3.4
	  	 Bank Meeting
	  	6
		
	 ARTICLE 4 REPRESENTATIONS AND WARRANTIES
	  	6
			
	 4.1
	  	 Remake of Representations and Warranties by each Borrower
	  	6
	 4.2
	  	 Remake of Representations and Warranties by TECO
	  	6
		
	 ARTICLE 5 CONDITIONS PRECEDENT TO THE EFFECTIVENESS OF THIS AGREEMENT
	  	6
			
	 5.1
	  	 Execution and Delivery of Documents
	  	6
	 5.2
	  	 Bank Fee
	  	7
	 5.3
	  	 PA Consulting Fees
	  	7
		
	 ARTICLE 6 MISCELLANEOUS
	  	7
			
	 6.1
	  	 Effect of this Agreement
	  	7
	 6.2
	  	 Waiver
	  	7
	 6.3
	  	 Counterparts; Integration; Successors and Assigns
	  	8
	 6.4
	  	 Agreement Controls
	  	8
	 6.5
	  	 Governing Law
	  	8
	 6.6
	  	 Headings
	  	8
	 6.7
	  	 Additional Financing
	  	8
	 6.8
	  	 Waiver of Jury Trial
	  	8

  
 THIS SUSPENSION OF RIGHTS
AND AMENDMENT AGREEMENT, dated as of October 22, 2003 (this “Agreement”), is made by and among UNION POWER PARTNERS, L.P., a Delaware limited partnership (“El Dorado Borrower”), PANDA GILA RIVER, L.P., a Delaware
limited partnership (“Gila River Borrower” and, together with El Dorado Borrower, the “Borrowers”), TECO ENERGY, INC., a Florida corporation (“TECO”), SOCIETE GENERALE, as LC Bank (as defined below)
and CITIBANK, N.A., as the Administrative Agent (as defined below) on behalf of the financial institutions party to the Credit Agreements. 
  
 RECITALS 
  
 A. El Dorado Borrower is party to that certain Union Power Project Credit Agreement, dated as of May 31, 2001 (as amended, the “El Dorado Credit
Agreement”), by and among El Dorado Borrower, Citibank, N.A. as administrative agent (the “El Dorado Administrative Agent”), Société Générale, as issuer of the letters of credit thereunder
(“El Dorado LC Bank”), and the financial institutions set forth therein (the “El Dorado Banks”), pursuant to which the El Dorado Banks agreed to provide, subject to the terms and conditions set forth therein, the
construction, term and letter of credit facilities necessary to enable El Dorado Borrower to construct and own or lease the Project and the Pipeline referred to therein. 
  
 B. Gila River Borrower is party to that certain Gila River Project Credit Agreement, dated as of May 31, 2001 (as amended,
the “Gila River Credit Agreement” and, together with the El Dorado Credit Agreement, the “Credit Agreements”), by and among Gila River Borrower, Citibank, N.A. as administrative agent (the “Gila River
Administrative Agent” and, together with the El Dorado Administrative Agent, the “Administrative Agent”), Société Générale, as issuer of the letters of credit thereunder (“Gila River LC
Bank” and, together with El Dorado LC Bank, “LC Bank”), and the financial institutions set forth therein (the “Gila River Banks” and, together with the El Dorado Banks, the “Banks”),
pursuant to which the Gila River Banks agreed to provide, subject to the terms and conditions set forth therein, the construction, term and letter of credit facilities necessary to enable Gila River Borrower to construct and own the Project referred
to therein. 
  
 C. TECO is a party to that certain Amended and
Restated Construction Contract Undertaking, dated as of May 14, 2002 (as amended, the “El Dorado Undertaking”), by TECO in favor of El Dorado Borrower and the El Dorado Administrative Agent, pursuant to which TECO undertook to,
among other things, perform the obligations of National Energy Production Corporation, a Delaware corporation (“NEPCO”), under that certain turnkey construction contract entered into between NEPCO and El Dorado Borrower referred to
therein. 
  
 D. TECO is a party to that certain Amended and
Restated Construction Contract Undertaking, dated as of May 14, 2002 (as amended, the “Gila River Undertaking” and, together with the El Dorado Undertaking, the “Undertakings”), by TECO in favor of Gila River
Borrower and the Gila River Administrative Agent, pursuant to which TECO undertook to, among other things, perform the obligations of NEPCO under that certain turnkey construction contract entered into between NEPCO and Gila River Borrower referred
to therein. 
  

 1 

 E. TECO is a party to that certain Equity Contribution Guaranty, dated as of May 31, 2001 (the
“El Dorado Equity Contribution Guaranty”), by TECO in favor of the El Dorado Administrative Agent for the benefit of the El Dorado Banks, pursuant to which TECO guaranteed certain equity contribution obligations of the partners of
El Dorado Borrower under an equity contribution agreement entered into by such partners as required by the terms of the El Dorado Credit Agreement. 
  
 F. TECO is a party to that certain Equity Contribution Guaranty, dated as of May 31, 2001 (the “Gila River Equity Contribution Guaranty”
and, together with the El Dorado Equity Contribution Guaranty, the “Equity Contribution Guaranties”), by TECO in favor of the Gila River Administrative Agent for the benefit of the Gila River Banks, pursuant to which TECO guaranteed
certain equity contribution obligations of the partners of Gila River Borrower under an equity contribution agreement entered into by such partners as required by the terms of the Gila River Credit Agreement. 
  
 G. TECO is a party to that certain Contingent Equity Contribution Guaranty,
dated as of May 31, 2001 (as amended, the “Gila River Contingent Equity Contribution Guaranty” and, together with the Equity Contribution Guaranties and the Undertakings, the “TECO Guaranty Documents”), by TECO in
favor of the Gila River Administrative Agent for the benefit of the Gila River Banks, pursuant to which TECO guaranteed certain contingent equity contribution obligations of the partners of Gila River Borrower under a contingent equity contribution
agreement entered into by such partners as required by the terms of the Gila River Credit Agreement. 
  
 H. It is the intention of the Banks, TECO and the Borrowers to preserve the status quo as of September 30, 2003 with respect to the matters that are the
subject of the Suspended Rights (as defined herein) during the Suspension Period (as defined herein). 
  
 I. In furtherance of the foregoing, the Borrowers and TECO have requested that the Administrative Agent, LC Bank and the Banks (i) amend the Credit
Agreements and each of the TECO Guaranty Documents as set forth herein and (ii) suspend certain of their rights as further set forth herein. 
  
 J. The Administrative Agent, LC Bank and the Banks are willing to agree to such amendments and such suspension of rights as set forth herein upon the
terms and subject to the conditions set forth herein. 
  

 2 

 AGREEMENT 
  

NOW, THEREFORE, in consideration of the promises and the mutual agreements herein contained and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 
  
 ARTICLE 1 
 DEFINITIONS 
  
 Unless the context shall otherwise require, capitalized terms used in this
Agreement shall have the meanings set forth in Exhibit A to the applicable Credit Agreement or Article I of the applicable TECO Guaranty Document and, except as otherwise expressly provided herein, the rules of interpretation set forth
in Exhibit A to the applicable Credit Agreement shall apply to this Agreement. In addition, unless the context shall otherwise require, as used herein the following terms shall have the following meanings: 
  
 “Interest Ratio Covenants” means the consolidated EBITDA to
consolidated adjusted interest expense covenant set forth in Section 4.12(b) of each of the TECO Guaranty Documents. 
  
 “Suspended Rights” has the meaning given in Section 2.1.3. 
  
 “Suspension Period” means the period from the Agreement Effective Date through the earliest to occur of (a)
January 31, 2004, (b) the occurrence of an Event of Default under, and as defined in, the Credit Agreements (other than any Event of Default relating to the matters that are the subject of the Suspended Rights), (c) a breach by either Borrower or
TECO of any of the terms set forth herein and (d) the effectiveness of definitive agreements among the parties hereto resolving the matters that are the subject of the Suspended Rights, which agreements by their respective terms state that they are
intended to resolve all matters relating to the Suspended Rights. 
  
 ARTICLE 2 
 SUSPENSION OF RIGHTS/ 
 AMENDMENTS TO CREDIT AGREEMENTS AND TECO GUARANTY DOCUMENTS 
  
 2.1 SUSPENDED RIGHTS. 
  
 2.1.1 Interest Ratio Covenants. 
  
 (a) Notwithstanding anything to the contrary in Section 4.12 or any other provision of the TECO Guaranty Documents, during the Suspension
Period, TECO shall not be obligated to calculate, measure or report on its compliance with the Interest Ratio Covenant under any of the TECO Guaranty Documents for the calendar quarter periods ending on September 30, 2003 and December 31, 2003 (nor
shall any calculation, measurement or reporting of such Interest Ratio Covenant by TECO for any purpose be deemed a calculation, measurement or reporting of TECO’s compliance with such Interest Ratio Covenant under any of the TECO Guaranty
Documents for the calendar quarter periods ending on September 30, 2003 and December 31, 2003). 
  
 (b) Notwithstanding the foregoing, upon the expiration of the Suspension Period (unless otherwise expressly provided in the definitive
agreements referred to in clause (d) of the definition of “Suspension Period”) (a) TECO shall immediately (and in any event within 24 hours) report in writing to the Administrative Agent a calculation and measurement of the Interest Ratio
Covenant under each of the TECO Guaranty Documents as of 

  

 3 

 
September 30, 2003 and December 31, 2003 and (b) the Banks shall be entitled to immediately exercise their respective rights and remedies under the Credit
Agreements and other Credit Documents arising as a consequence of a violation by TECO of the Interest Ratio Covenants existing as of either September 30, 2003 or December 31, 2003, notwithstanding TECO’s subsequent compliance with the Interest
Ratio Covenants at any time after, as applicable, September 30, 2003 or December 31, 2003, and notwithstanding any occurrence of the Substitute Guarantor Date after September 30, 2003 or December 31, 2003, as applicable. 
  
 2.1.2 Substitute Guarantor Date.
Notwithstanding anything to the contrary in Section 6.13 or any other provision of the Undertakings, during the Suspension Period, TECO covenants and agrees that it shall not assert that a “Substitute Guarantor Date” has occurred under
either Undertaking. At any time after the expiration of the Suspension Period, TECO shall be entitled to assert that a “Substitute Guarantor Date” has occurred; provided that, unless otherwise agreed by the Required Banks, any
assertion that the Substitute Guarantor Date has occurred on or before September 30, 2003 shall be based solely upon the documentation evidencing such occurrence of the Substitute Guarantor Date existing as of, and entered into prior to, September
30, 2003 (such documentation having been posted to the Banks on September 26, 2003). 
  
 2.1.3 Suspended Rights. The rights and remedies of the Banks and the rights and remedies of TECO and the Borrowers referred
to in Sections 2.1.1 and 2.1.2 hereof are collectively referred to herein as the “Suspended Rights”). 
  
 2.1.4 No Prejudice. During the Suspension Period, each of the Banks, TECO and the Borrowers reserve their respective
Suspended Rights and are abstaining from taking action to enforce such Suspended Rights. Upon the expiration of the Suspension Period, each of the Banks, TECO and the Borrowers shall be entitled to exercise and enforce the Suspended Rights without
any prejudice under the applicable Operative Documents arising as a consequence of any lapse of time occurring during the Suspension Period. 
  
 2.2 AMENDMENTS TO CREDIT AGREEMENTS. 
  
 2.2.1 Additional Conditions to
Term-Conversion. In addition to satisfaction of each of the conditions precedent to Term-Conversion set forth in the Credit Agreements (it being understood that Section 3.3.7 of the Credit Agreements shall be satisfied as modified by Section
2.2.2 of this Agreement), Term-Conversion shall not occur under either Credit Agreement unless (a) the calendar year 2004 Annual Operating Budgets referred to below have been submitted by the Borrowers to, and have been approved by, the
Administrative Agent in accordance with the terms of Section 2.2.2 of this Agreement and Section 5.15 of the Credit Agreements (as amended below) and (b) the Suspension Period has expired in accordance with the terms of this Agreement. 

 
 2.2.2 Annual Operating Budgets.
Notwithstanding anything to the contrary in Section 5.15 or any other provision of the Credit Agreements, effective as of October 1, 2003: 
  
 (a) the calendar year 2004 Annual Operating Budgets (including Major Maintenance through 2005) required to be prepared by the Borrowers
pursuant to Section 5.15.2 

  

 4 

 
of each Credit Agreement shall be adopted by the Borrowers and submitted to the Administrative Agent on or before October 31, 2003; and 
  
 (b) the final calendar year 2004 Annual Operating Budget
(including Major Maintenance through 2005) shall be finalized by the Borrowers and submitted to the Administrative Agent on or before January 5, 2004, all pursuant to Section 5.15.2 of each Credit Agreement. 
  
 ARTICLE 3 
 ADDITIONAL AGREEMENTS 
  
 3.1 NO REIMBURSEMENTS OF EQUITY CONTRIBUTIONS/UNDERTAKINGS PAYMENTS. Notwithstanding
anything to the contrary in the Credit Agreements, any other Credit Document or the Undertakings, until Term-Conversion has occurred or all Obligations of each Borrower under the applicable Credit Agreement have been paid and all of the Commitments
in respect thereof have been terminated, each of Gila River Borrower, El Dorado Borrower and TECO covenants and agrees that no funds shall be paid by or on behalf of a Borrower (or otherwise disbursed from any Account of a Borrower) to TECO, any
partner of such Borrower, or any other person or entity, which funds would reimburse or repay (a) any payment made by TECO to (or on behalf of) a Borrower pursuant to Sections 2.1(c) and (d) of the applicable Undertaking or (b) any equity
contribution (including any contribution of Shortfall Equity) made by any partner of a Borrower or TECO (or any of their respective affiliates) to, or for the benefit of, a Borrower or a Project. The Administrative Agent (on behalf of the Banks)
hereby acknowledges that the partners of the Borrowers have contributed the full amount of the Shortfall Equity required to be contributed by each such partner pursuant to the terms of the applicable Credit Documents on or before September 30, 2003.

  
 3.2 CONSULTANT
FEES/ORAL REPORT. 
  
 3.2.1 Fees. Each Borrower agrees to pay to the Administrative Agent an aggregate amount up to $175,000 ($350,000 total) to reimburse the Administrative Agent for certain fees and expenses paid or payable
by the Administrative Agent to PA Consulting Group, Inc. (“PA”) in connection with PA’s performance on behalf of the Administrative Agent and its counsel of that certain scope of work set forth in Exhibit A attached
hereto (the “Scope of Work”). In furtherance of the foregoing, each Borrower shall deposit (or cause to be deposited) an aggregate amount equal to $150,000 ($300,000 total) in the account of the Administrative Agent described in
Section 5.3. The Administrative Agent shall hold such amount in trust and from time to time apply the amounts on deposit in such account to the payment of the fees and expenses of PA. Upon completion of the Scope of Work by PA, any funds remaining
in such account shall be returned to the Borrowers on a pro rata basis. 
  
 3.2.2 Oral Report. Upon completion of the Scope of Work by PA and the receipt by the Administrative Agent of PA’s written report relating to the same, the Administrative Agent will arrange a meeting
between representatives of PA and representatives of the Borrowers. Such meeting shall be held in the presence of counsel to the Borrowers and the Administrative Agent. The PA representatives will provide the Borrowers’ representatives with an
oral report summarizing (a) PA’s analysis of the operating performance of each Project 

  

 5 

 
through the date of the written report referred to above and (b) PA’s analysis of each Borrower’s financial model, budget and business plan through
the end of the 2004 calendar year. Each of the Borrowers and TECO acknowledges and agrees that such oral report will not include (and PA shall not be obligated to disclose) any attorney-client communication or attorney work product and that such
oral report shall not be construed as a waiver of any privileges related thereto that the Administrative Agent or its counsel may have with respect to any work performed by PA with respect to a Project. 
  
 3.3 ENERGY MANAGEMENT
EVALUATION PROCESS REPORTS. Unless otherwise agreed by the parties, (a) on a bi-weekly basis at a time to be reasonably determined by the Administrative Agent, the Borrowers shall
provide to the Administrative Agent (and, if requested by the Administrative Agent, the steering committee) an informal oral update on the status of the energy management evaluation process and (b) on a monthly basis commencing on November 1, 2003,
the Borrowers shall provide to the Administrative Agent a formal written update detailing the status of the energy management evaluation process. 
  
 3.4 BANK MEETING. On or before November 14, 2003, representatives of each Borrower and TECO shall meet
with the Banks’ representatives to present to the Banks’ representatives the calendar year 2004 Annual Operating Budget (including Major Maintenance through 2005) for each Project and to discuss in detail the business plan for each
Project. 
  
 ARTICLE 4 
 REPRESENTATIONS AND WARRANTIES 
  
 4.1 REMAKE OF REPRESENTATIONS AND WARRANTIES BY
EACH BORROWER. As of the Agreement Effective Date and after giving effect to the execution, delivery and effectiveness of this Agreement, Borrower hereby remakes to the Administrative Agent and each
Bank the representations and warranties of Borrower contained in Article IV of each Credit Agreement. 
  
 4.2 REMAKE OF REPRESENTATIONS AND WARRANTIES BY
TECO. As of the Agreement Effective Date and after giving effect to the execution, delivery and effectiveness of this Agreement, TECO hereby remakes to the Administrative Agent and each Bank the representations and
warranties of TECO contained in the Article III of each of the TECO Guaranty Documents. 
  
 ARTICLE 5 
 CONDITIONS PRECEDENT TO THE 
 EFFECTIVENESS OF THIS AGREEMENT 
  
 The effectiveness of this Agreement shall be subject to waiver by the Administrative Agent, or the fulfillment of each of the following conditions precedent (the date on which each such condition precedent shall have
been satisfied or waived by the Administrative Agent (in consultation with the Required Banks) shall be referred to herein as the “Agreement Effective Date”): 
  
 5.1 EXECUTION AND DELIVERY OF
DOCUMENTS. The Administrative Agent shall have received an original executed version of this Agreement by the parties hereto. 
  

 6 

 5.2 BANK FEE. The Borrowers shall have paid to (or
deposited with) the Administrative Agent a fee equal to 0.00075 times the aggregate amount funded by the Banks voting in favor of, or consenting to the terms of, this Agreement under the Credit Agreements, with such fee to be distributed to such
Banks pro rata based upon the amount actually funded by the applicable Bank under the Credit Agreements. 
  
 5.3 PA CONSULTING FEES. The Borrowers shall have deposited with the Administrative Agent in the
following account, Account Number 3041-9849, the amounts required by Section 3.2.1 hereof. 
  
 ARTICLE 6 
 MISCELLANEOUS 
  
 6.1 EFFECT OF THIS AGREEMENT. This
Agreement shall be construed as an amendment to the Credit Agreements and, during the Suspension Period, the TECO Guaranty Documents. On and after the date hereof, each reference in any Operative Document to (a) the “Credit Agreement,”
“Union Power Project Credit Agreement”, “El Dorado Credit Agreement”, “Gila River Project Credit Agreement”, “Gila River Credit Agreement” shall mean the Credit Agreements as amended hereby and (b) during the
Suspension Period, any of the TECO Guaranty Documents shall mean the TECO Guaranty Documents as amended hereby. This Agreement is made in amendment and modification of, but not extinguishment of, the obligations set forth in the Credit Agreements,
the other Credit Documents and the TECO Guaranty Documents and, except as specifically modified pursuant to the terms of this Agreement, the terms and conditions of the Credit Agreements, the other Credit Documents and the TECO Guaranty Documents
remain in full force and effect and are hereby ratified and affirmed. Except for the modifications to the Interest Ratio Covenants contained in Section 2.1.1(a) of this Agreement, the provisions of this Agreement shall survive the expiration of the
Suspension Period. 
  
 6.2
WAIVER. The amendments and the suspension of rights set forth herein are limited strictly to their respective terms, shall not extend to or effect any of the other obligations of the Borrowers or TECO under any
Operative Document and shall not impair any rights consequent thereon. TECO’s entry into this Agreement shall not give rise to any liability as a “Borrower” under the Credit Agreements, and shall not limit or expand its rights or
obligations under the Operative Documents except as specifically set forth in this Agreement. Neither the Administrative Agent nor the Banks shall have any obligation to issue any other or further amendment, consent or waiver with respect to the
matters addressed herein or any other matter. Each of El Dorado Borrower, Gila River Borrower and TECO hereby (a) affirms and ratifies all of its obligations under the Operative Documents, except as specifically modified pursuant to the terms of
this Agreement, (b) stipulates, acknowledges and agrees that this Agreement and all documents executed in connection herewith do not constitute, except as expressly set forth herein, a waiver, forbearance or other indulgence with respect to any
Event of Default, Non-Fundamental Project Default, Inchoate Default, Non-Fundamental Project Inchoate Default, Material Adverse Effect or Combined Material Adverse Effect existing or hereafter arising, (c) stipulates, acknowledges, and agrees that
the stipulations, consents, and acknowledgements granted herein are limited solely to the express terms of such stipulation, consent or acknowledgement, and (d) agrees that nothing contained in this Agreement shall be deemed to constitute a waiver
of any other rights or remedies the Administrative Agent, any Bank, TECO 

  

 7 

 
or either Borrower may have under the Credit Agreements, any other Credit Document, the TECO Guaranty Documents or under Applicable Law. 
  
 6.3 COUNTERPARTS; INTEGRATION;
SUCCESSORS AND ASSIGNS. 
  
 6.3.1 This Agreement may be executed in counterparts (and by different parties on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile shall be as effective as delivery of a manually executed
counterpart of this Agreement. 
  
 6.3.2
This Agreement and any agreements referred to herein constitute the entire contract among the parties hereto relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the
subject matter hereof. 
  
 6.3.3 This
Agreement shall be binding upon and inure to the benefit of the parties hereto and, subject to and in accordance with Section 12.17 of the Credit Agreements, their respective successors and assigns. 
  
 6.4 AGREEMENT CONTROLS.
To the extent that there are any inconsistencies between any of the Operative Documents and this Agreement or the intent of this Agreement and the intent of any of the Operative Documents, this Agreement and its provisions shall control. Each of the
parties hereto waives any claims it may have based upon such inconsistencies. 
  
 6.5 GOVERNING LAW. THIS AGREEMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO THE EXTENT NOT OTHERWISE EXPRESSLY PROVIDED FOR THEREIN), SHALL BE GOVERNED
BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  
 6.6 HEADINGS. Paragraph headings have been inserted in this Agreement as a matter of
convenience for reference only and it is agreed that such paragraph headings are not a part of this Agreement and shall not be used in the interpretation of any provision of this Agreement. 
  
 6.7 ADDITIONAL FINANCING.
The parties hereto acknowledge that as of the date hereof the Banks have made no agreement or commitment to provide any financing except as set forth in the Credit Agreements. 
  
 6.8 WAIVER OF JURY TRIAL. THE
ADMINISTRATIVE AGENT, LC BANK, THE BANKS, EACH BORROWER AND TECO HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION
WITH, THIS AGREEMENT OR ANY OTHER OPERATIVE DOCUMENT OR ANY OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, OR ANY COURSE OR CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), OR ACTIONS OF THE ADMINISTRATIVE AGENT, LC BANK,

  

 8 

 
THE BANKS, EITHER BORROWER OR TECO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE BANKS TO ENTER INTO THIS AGREEMENT. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 9 

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

	 UNION POWER PARTNERS, L.P.,
 a
Delaware limited partnership

		
	By:	 	 Union Power I, LLC
 a Delaware limited liability company
 its General Partner

			
	 	 	 By:
	 	  

	 	 	 	 	 Name:
 Title:

	 	 	 	 	 
	
	 PANDA GILA RIVER, L.P.,
 a
Delaware limited partnership

		
	By:	 	 Panda Gila River I, LLC
 a Delaware limited liability company
 its General Partner

			
	 	 	 By:
	 	

	 	 	 	 	 Name:
 Title:

  

 [SUSPENSION OF RIGHTS AND AMENDMENT AGREEMENT 
 SIGNATURE PAGE] 
 S-1 

	 TECO ENERGY, INC.,
 a Florida
corporation

		
	By:	 	  

	 	 	 Name:
 Title:

  

 [SUSPENSION OF RIGHTS AND AMENDMENT AGREEMENT 
 SIGNATURE PAGE] 
 S-2 

	 CITIBANK, N.A.,
 as
Administrative Agent

		
	By:	 	  

	 	 	 Name:
 Title:

  

 [SUSPENSION OF RIGHTS AND AMENDMENT AGREEMENT 
 SIGNATURE PAGE] 
 S-3 

	 SOCIETE GENERALE,
 as LC
Bank

		
	By:	 	  

	 	 	 Name:
 Title:

		
	By:	 	  

	 	 	 Name:
 Title:

  

 [SUSPENSION OF RIGHTS AND AMENDMENT AGREEMENT 
 SIGNATURE PAGE] 
 S-4 

 EXHIBIT A 
  
 PA SCOPE OF WORK 
  

	1.	Analysis of Operating Performance to Date 

  

	2.	Analysis of each Borrower’s Financial Model/Review of Budget/Business Plan 

  

	3.	Development of Independent Cash Flow Model 

  

	4.	Valuation 

  

	5.	Certain additional work as requested by the Administrative Agent or the Administrative Agent’s counsel regarding financial performance of the projects and their present and
future prospects. 

  

 iPrepared by R.R. Donnelley Financial -- Amended & Restated Consulting Agreement dated 08/05/2003

 Exhibit 10.37 
  
 RITA MEDICAL SYSTEMS, INC. 
  

AMENDED AND RESTATED CONSULTING AGREEMENT 
  
 This Amended and Restated Consulting Agreement (the “Agreement”) is entered into by and between RITA Medical Systems, Inc. (the
“Company”), a Delaware corporation and Randy D. Lindholm (“Consultant”). 
  
 WHEREAS, Consultant and the Company have previously entered into that certain Consulting Agreement (the “Original Consulting Agreement”)
effective as of April 25, 2003 (the “Effective Date”); and 
  
 WHEREAS, Consultant and the Company now desire to amend and restate the terms of the Original Consulting Agreement and to supersede it in its entirety with the terms set forth herein. 
  
 NOW THEREFORE, in consideration of the mutual promises contained herein,
Company and Consultant agree as follows: 
  
 1.    Consulting Relationship.    During the term of this Agreement, Consultant will provide consulting services (the “Services”) to the Company as described on
Exhibit A attached to this Agreement. Consultant represents that Consultant is duly licensed (as applicable) and has the qualifications, the experience and the ability to properly perform the Services. Consultant shall use Consultant’s
best efforts to perform the Services such that the results are satisfactory to the Company. Consultant shall be available to the Company upon the Company’s reasonable request in accordance with the schedule set forth on Exhibit B
attached to this Agreement. 
  
 2.    Fees.    As consideration for the Services to be provided by Consultant and other obligations, the Company shall pay to Consultant the amounts specified in Exhibit B
attached to this Agreement in the manner and at the times specified therein. 
  
 3.    Expenses.    Consultant shall not be authorized to incur on behalf of the Company any expenses, without the prior consent of the either a member of the
Company’s Board of Directors or the Company’s Chief Executive Officer, which consent shall be evidenced in writing for any expenses in excess of $1,000.00. As a condition to receipt of reimbursement, Consultant shall be required to submit
to the Company reasonable evidence that the amount involved was expended and related to Services provided under this Agreement. 
  
 4.    Term and Termination.    Consultant shall serve as a consultant to the Company for a period
commencing on the Effective Date and terminating on June 30, 2004; provided, however, that the Consulting Relationship shall terminate prior to such date if at any time after July 24, 2003, the Company desires to terminate this
Agreement. Such termination shall be effective upon ten days’ prior written notice to Consultant, which notice shall be executed by the Chairman of the Company’s Board of Directors. In the event that this Agreement is terminated by the
Company, Consultant shall receive a termination fee (the “Termination Fee”) equal to the greater of (i) the amount owed to Consultant for the remaining term of this Agreement or (ii) the amount owed to Consultant for the provision
of an additional three months of Services, each in accordance with the schedule set forth on Exhibit B attached to this Agreement. The Termination Fee shall be paid to Consultant in a lump sum payment. In the event that this Agreement is
terminated by Consultant, Consultant shall be paid for any portion of the Services that have been performed prior to the date of such termination. 

 5.    Independent Contractor.    Consultant’s
relationship with the Company will be that of an independent contractor and not that of an employee. 
  
 (a)    Method of Provision of Services:    Consultant shall be solely responsible
for determining the method, details and means of performing the Services. Consultant may, at Consultant’s own expense, employ or engage the service of such employees or subcontractors as Consultant deems necessary to perform the Services
required by this Agreement (the “Assistants”). Such Assistants are not the employees of the Company and Consultant shall be wholly responsible for the professional performance of the Services by his Assistants such that the results
are satisfactory to the Company. Consultant shall expressly advise the Assistants of the terms of this Agreement, and shall require each Assistant to execute a Confidential Information and Invention Assignment Agreement substantially in the form
attached to this Agreement as Exhibit C (the “Confidentiality Agreement”). 
  
 (b)    No Authority to Bind Company.    Neither Consultant, nor any partner, agent
or employee of Consultant, has authority to enter into contracts that bind the Company or create obligations on the part of the Company without the prior written authorization of the Company. 
  
 (c)    No
Benefits.    Consultant acknowledges and agrees that Consultant (or Consultant’s employees, if Consultant is an entity) will not be eligible for any Company employee benefits and, to the extent Consultant (or
Consultant’s employees, if Consultant is an entity) otherwise would be eligible for any Company employee benefits but for the express terms of this Agreement, Consultant (on behalf of itself and its employees) hereby expressly declines to
participate in such Company employee benefits. 
  
 (d)    Withholding; Indemnification.    Consultant shall have full responsibility for applicable withholding taxes for all compensation paid to Consultant, its partners, agents or its
employees under this Agreement, and for compliance with all applicable labor and employment requirements with respect to Consultant’s self-employment, sole proprietorship or other form of business organization, and Consultant’s partners,
agents and employees, including state worker’s compensation insurance coverage requirements and any US immigration visa requirements. Consultant agrees to indemnify, defend and hold the Company harmless from any liability for, or assessment of,
any claims or penalties with respect to such withholding taxes, labor or employment requirements, including any liability for, or assessment of, withholding taxes imposed on the Company by the relevant taxing authorities with respect to any
compensation paid to Consultant or Consultant’s partners, agents or its employees. 
  
 6.    Supervision of Consultant’s Services.    All of the Services to be performed by Consultant, including but not limited to the Services, will be as agreed
between Consultant and the Chairman of the Company’s Board of Directors. Consultant will be required to report to the Chairman of the Company’s Board of Directors concerning the Services performed under this Agreement. The nature and
frequency of these reports will be left to the discretion of the Chairman of the Company’s Board of Directors. 
  

 -2- 

 7.    Consulting or Other Services for
Competitors.    Consultant represents and warrants that Consultant does not presently perform or intend to perform, during the term of the Agreement, consulting or other services for, or engage in or intend to engage in
an employment relationship with, companies who businesses or proposed businesses in any way involve products or services which would be competitive with the Company’s products or services, or those products or services proposed or in
development by the Company during the term of the Agreement (except for those companies, if any, listed on Exhibit D attached hereto). If, however, Consultant decides to do so, Consultant agrees that, in advance of accepting such work,
Consultant will promptly notify the Company in writing, specifying the organization with which Consultant proposes to consult, provide services, or become employed by and to provide information sufficient to allow the Company to determine if such
work would conflict with the terms of this Agreement, including the terms of the Confidentiality Agreement, the interests of the Company or further services which the Company might request of Consultant. If the Company determines that such work
conflicts with the terms of this Agreement, the Company reserves the right to terminate this Agreement immediately. 
  
 8.    Confidentiality Agreement.    Consultant shall sign, or has signed, a Confidential Information
and Invention Assignment Agreement substantially in the form attached to this Agreement as Exhibit C (the “Confidentiality Agreement”), on or before April 25, 2003. In the event that Consultant is an entity or otherwise will
be causing individuals in its employ or under its supervision to participate in the rendering of the Services, Consultant warrants that it shall cause each of such individuals to execute a Confidentiality Agreement in the form attached as Exhibit
C. 
  
 9.    Conflicts with this
Agreement.    Consultant represents and warrants that neither Consultant nor any of Consultant’s partners, employees or agents is under any pre-existing obligation in conflict or in any way inconsistent with the
provisions of this Agreement. Consultant represents and warrants that Consultant’s performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by Consultant in confidence
or in trust prior to commencement of this Agreement. Consultant warrants that Consultant has the right to disclose and/or or use all ideas, processes, techniques and other information, if any, which Consultant has gained from third parties, and
which Consultant discloses to the Company or uses in the course of performance of this Agreement, without liability to such third parties. Notwithstanding the foregoing, Consultant agrees that Consultant shall not bundle with or incorporate into any
deliveries provided to the Company herewith any third party products, ideas, processes, or other techniques, without the express, written prior approval of the Company. Consultant represents and warrants that Consultant has not granted and will not
grant any rights or licenses to any intellectual property or technology that would conflict with Consultant’s obligations under this Agreement. Consultant will not knowingly infringe upon any copyright, patent, trade secret or other property
right of any former client, employer or third party in the performance of the Services required by this Agreement. 
  

 -3- 

 10.    Miscellaneous. 
  
 (a)    Amendments and
Waivers.    Any term of this Agreement may be amended or waived only with the written consent of the parties. 
  
 (b)    Sole Agreement.    This Agreement, including the Exhibits hereto, constitutes
the sole agreement of the parties and supersedes all oral negotiations and prior writings with respect to the subject matter hereof. 
  
 (c)    Notices.    Any notice required or permitted by this Agreement shall be in
writing and shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, 48 hours after being deposited in the regular mail as certified or registered mail (airmail if sent
internationally) with postage prepaid, if such notice is addressed to the party to be notified at such party’s address or facsimile number as set forth below, or as subsequently modified by written notice. 
  
 (d)    Choice of
Law.    The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, without giving effect to the principles of conflict of laws. 
  
 (e)    Severability.    If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In
the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision
were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms. 
  
 (f)    Counterparts.    This Agreement may be executed in counterparts, each of
which shall be deemed an original, but all of which together will constitute one and the same instrument. 
  
 (g)    Arbitration.    Any dispute or claim arising out of or in connection with any
provision of this Agreement will be finally settled by binding arbitration in Santa Clara County, California, in accordance with the rules of the American Arbitration Association by one arbitrator appointed in accordance with said rules. The
arbitrator shall apply California law, without reference to rules of conflicts of law or rules of statutory arbitration, to the resolution of any dispute. Judgment on the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof. Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance with this paragraph, without breach of this
arbitration provision. This Section 10(g) shall not apply to the Confidentiality Agreement. 
  
 (h)    Advice of Counsel.    EACH PARTY ACKNOWLEDGES THAT, IN EXECUTING THIS
AGREEMENT, SUCH PARTY HAS HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND HAS READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT SHALL NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE
DRAFTING OR PREPARATION HEREOF. 
  
 [Signature Page Follows]

  

 -4- 

 The parties have executed this Agreement on the respective dates set forth below. 
  

	RITA MEDICAL SYSTEMS, INC.
		
	 By:
	 	/S/    VINCENT BUCCI        
	 	 	

		
	 Title:
	 	Chairman of the Board
	 	 	

		
	 Address:
	 	 
	 	 	

	
	Date:  August 5, 2003

  
  

	RANDY D. LINDHOLM
	
	/S/    RANDY LINDHOLM        
	

	 Signature

		
	 Address:
	 	 
	 	 	

	
	Date:  August 5, 2003

 EXHIBIT A 
  

DESCRIPTION OF CONSULTING SERVICES 
  
 Description of Services 
  
 Consultant shall provide advice to the Company in his field of expertise and shall introduce the Company to potential employees, consultants, customers and partners. 

 EXHIBIT B 
  

CONSULTING SCHEDULE AND COMPENSATION 
  
 Consultant shall perform the Services upon the Company’s reasonable request in accordance with the following schedule: 
  

	 Period

	 	 Schedule

	 	 Fee

	4/25/03-7/24/03	 	An average of three days per week	 	$125,000
	7/25/03-9/30/03	 	Two days per month	 	$10,000 per month ($5,000 per day)
	10/01/03-12/31/03	 	Two days per month	 	$6,000 per month ($3,000 per day)
	1/01/03-6/30/04	 	One day per month	 	$3,000 per day

  
 All amounts due hereunder shall be
paid to Consultant monthly in advance (the “Advance”). In the event that the Company requests that Consultant provide additional Services, Consultant shall be paid a fee of $5,000 per day for the provision of such Services. Any
additional amount owed to Consultant for the prior month shall be included in the next Advance paid to Consultant. 
  
 The Company will recommend that the Board grant Consultant a non-qualified option to purchase 25,000 shares of the Company’s Common Stock (the “Initial
Shares”), at an exercise price equal to the fair market value of the Company’s Common Stock on the date of grant, and which will vest and become exercisable as follows: 1/48th of the Initial Shares will vest each month following the grant date. 
  

In addition, the Company will recommend that the Board grant Consultant a non-qualified option to purchase 10,000 shares of the Company’s Common Stock (the
“Subsequent Shares”), at an exercise price equal to the fair market value of the Company’s Common Stock on the date of grant, and which will vest and become exercisable as follows: 1/24th of the Subsequent Shares will vest each month following the grant date. 

 EXHIBIT C 
  

CONFIDENTIAL INFORMATION AND 
 INVENTION
ASSIGNMENT AGREEMENT 

 EXHIBIT D 
  

LIST OF COMPANIES 
 EXCLUDED UNDER SECTION
7 
  
 ____ No conflicts 
  
 ____ Additional Sheets Attached 
  
 Signature of Consultant: _______________________________________ 
  
 Print Name of Consultant: _______________________________________ 
  
 Date:

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