Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO 
 LOAN AND
LEASE AGREEMENT 
 This First Amendment to Loan and Lease Agreement is entered into as of December 17, 2014 (the
“Amendment”) by and between ESSEX CAPITAL CORPORATION (“Essex”) and REVANCE THERAPEUTICS, INC. (“Company”). 

RECITALS 
 Company and Essex are
parties to that certain Loan and Lease Agreement dated as of December 20, 2013, as amended from time to time (the “Agreement”). Acceptance of the Ima Life Equipment (as defined in the Agreement) has been delayed. As a result, the
parties desire to amend the Agreement in accordance with the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. Unless otherwise defined, all initially capitalized terms used in this Amendment shall be as defined in the Agreement. 

2. The parties hereby confirm that: (a) the Initial Advance was timely requested by Company and was made in full by Essex on
December 24, 2013; (b) the Second Advance was timely requested by Company and was made in full by Essex on January 27, 2014; (c) Company properly delivered Warrants to Essex in connection with the Initial Advance and the Second
Advance; (d) Company sold the Seidenader Equipment to, and leased the Seidenader Equipment back from, Essex on May 28, 2014; (e) there is no remaining Seidenader Equipment to be sold or leased back under the Agreement; (f) the
Notes currently outstanding from Company in favor of Essex are the Amended and Restated Secured Promissory Note dated May 28, 2014 (AR-EPN-0 I) and the Secured Promissory Note dated September 25, 2014 (Replacement Note EPN-02) (the
“Existing Notes”); and (g) the aggregate principal amount of the Existing Notes is $3,904,610.61. 
 3. The payment date for
the principal amount and all accrued interest outstanding under the Existing Notes is December 20, 2014. On that date, Company will repay the entire principal balance and all accrued interest on such Notes. No further Advances will be made
under the Agreement. 
 4. The description of the Ima Life Equipment set forth on Exhibit A-1 and Schedule 1 to the Agreement is updated in
its entirety to read as set forth on Schedule I to this Amendment. Company represents and warrants that it has not yet made its first functional use of the Ima Life Equipment, but that all of such Ima Life Equipment will be fully accepted and
installed prior to March 16, 2015. 
 5. On March 16, 2015, Company will sell, and Essex will purchase all of such Ima Life
Equipment. The purchase price for the Ima Life Equipment (the “Purchase Price”) shall be equal to the total aggregate agreement amount invoiced to Company by Ima Life and actually paid by Company to Ima Life with respect to such Ima Life
Equipment; provided, however, that such Purchase Price shall not exceed $9,704,610.61. Essex shall pay the Purchase Price by delivering good funds via wire transfer. Except as modified hereby, the terms and conditions of the Agreement shall apply
with respect to the sale of the Ima Life Equipment. 
 6. Upon receipt of the Purchase Price by Company, Essex shall lease back such Ima
Life Equipment to the Company in accordance with the lease terms of the Agreement; provided, however, that at Essex’s election, the Ima Life Equipment shall be divided into separate subsets (each a “Tranche”). The details with respect
to the composition of each such Tranche will be determined by the mutual agreement of the parties in good faith. Anything in the Agreement to the contrary notwithstanding, the parties agree that they will enter into separate leases for each of the
Tranches. Thelma Life Equipment shall not be divided into more than ten Tranches without Company’s prior written consent. 
 7.
Concurrently with the execution of this Amendment, Company is issuing to Essex that Certain Warrant to Purchase Capital Stock (No. EPW-03), which entitles the holder to purchase up to 44,753 shares of Company’s Common Stock. 

8. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is
ratified and confirmed in all respects. 

  
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 9. Company represents and warrants that the representations and warranties contained in the
Agreement are true and correct in all material respects as of the date of this Amendment, and that, upon execution and delivery of this Amendment, no Event of Default has occurred and is continuing. 

10. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one instrument. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original hereof. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.] 

  
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 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	REVANCE THERAPEUTICS, INC.
		
	By:	 	 /s/ L. Daniel Browne

	Name:	 	L. Daniel Browne
	Title:	 	President and Chief Executive Officer
	
	ESSEX CAPITAL CORPORATION
		
	By:	 	 /s/ Ralph T. Iannelli

	Name:	 	Ralph T. Iannelli
	Title:	 	President

 SCHEDULE I 

UPDATED DESCRIPTION OF IMA LIFE EQUIPMENT 
  

							
	 Equipment
	  	Manufacturer	  	Serial Number	  	Revance ID #
	 Vega 6 Intemal Vial Washer
	  	IMA LIFE	  	L7DO14	  	01-VWAS-001
	 Hygra 300 External Vial Washer
	  	IMA LIFE	  	L3Z047	  	01 -VW AS-002
	 CLU Compact Loading/Unloading System #1
	  	IMA LIFE	  	EK2054	  	01-LOAD-001
	 CLU Compact Loading/Unloading System #2
	  	IMA LIFE	  	EK2055	  	01-LOAD-002
	 Lyomax 17 (Lyophilizer 1)
	  	IMA LIFE	  	900EEF1028	  	01-LYOP-002
	 Lyomax 17 (Lyophilizer 2)
	  	IMA LIFE	  	900EEF1029	  	01-LYOP-003
	 Xtrema 2000 Fill Machine
	  	IMA LIFE	  	SL1028	  	01-VFIL-002
	 ALU 400 Capping Machine
	  	IMA LIFE	  	SA3069	  	01-VCAP-002
	 Sensitive AV Vial Labeler Machine
	  	IMA LIFE	  	L1D061	  	01-LABL-00 I
	 V-300 Tray Loading Machine
	  	IMA LIFE	  	L5A042	  	01-TRAY-001Exhibit 10.1

 

INITIAL PORTFOLIO PURCHASE AGREEMENT

 

This INITIAL PORTFOLIO PURCHASE AGREEMENT (this “Agreement”), dated as of [    ], 2014, is entered into by and between Sol-Wind, LLC, a Delaware limited liability company (“Sol-Wind”), Sol-Wind Holdings, LLC, a Delaware limited liability company and wholly-owned subsidiary of Sol-Wind (“Holdings” and, together with Sol-Wind, the “Sellers” and each a “Seller”), and Sol-Wind JV SWP LLC, a Delaware limited liability company (“Purchaser”).

 

WHEREAS, pursuant to the Purchase Agreements, each Seller has acquired the Interests in the Project Companies set forth under its name on Schedule I hereto (with respect to each Seller, the “Applicable Project Companies”) from the applicable Development Sellers (as such capitalized terms are hereinafter defined); and

 

WHEREAS, pursuant to this Agreement, (i) each Seller desires to sell to Purchaser, and Purchaser desires to purchase from each Seller, all of the Interests in the Applicable Project Companies and (ii) each Seller desires to sell and assign to Purchaser, and Purchaser desires to assume from each Seller, all of the rights and obligations of such Seller under the Purchase Agreements for the Applicable Project Companies, in each case upon the terms and subject to the conditions hereinafter set forth.

 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

ARTICLE I—CERTAIN DEFINITIONS

 

Section 1.1                                   Certain Definitions.  As used in this Agreement, the following terms have the respective meanings set forth below.

 

“Affiliate” means, with respect to any Person, any other Person who directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with, such Person.  The term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlled” and “controlling” have meanings correlative thereto.

 

“Assignment and Assumption Agreements” shall mean agreements providing for the Sellers’ assignment to Purchaser, and Purchaser’s assumption of, all rights and obligations of the Sellers under the Purchase Agreements in a form reasonably acceptable to the Sellers and Purchaser.

 

“Business Day” means a day, other than a Saturday or Sunday, on which commercial banks in New York City are open for the transaction of general business.

 

“Development Sellers” means the sellers of the Interests in the Project Companies pursuant to Purchase Agreements identified on Schedule I hereto.

 

 

“Governing Documents” means the legal document(s) by which any Person (other than an individual) establishes its legal existence or which govern its internal affairs.

 

“Governmental Authority” means the government of the United States of America and any state, commonwealth, territory, possession, county or municipality thereof, or the government of any political subdivision of any of the foregoing, the government or agency of any foreign country, or any entity, authority, agency, ministry or other similar body exercising executive, legislative, judicial, regulatory or administrative authority or functions of or pertaining to government, including any authority or other quasi-governmental entity established to perform any of such functions.

 

“Interests” means, collectively, the interests in the Project Companies that the Sellers have agreed to acquire from the Development Sellers pursuant to the Purchase Agreements.  The number and type of Interests in each Project Company that the Sellers have agreed to acquire are set forth opposite the name of such Project Company under the heading “Interests” on Schedule I hereto.

 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien, charge, assessment, lease, levy or other encumbrance of any kind, or any conditional sale contract, title retention contract or other contract to give any of the foregoing.

 

“Person” means an individual, partnership, corporation, limited liability company, joint stock company, unincorporated organization or association, trust, joint venture, association or other organization, whether or not a legal entity, or a Governmental Authority.

 

“Project Companies” means the companies in which the Sellers have agreed to acquire Interests pursuant to the Purchase Agreements, which companies are identified on Schedule I hereto.

 

“Purchase Agreements” means the agreements pursuant to which the Sellers have agreed to acquire the Interests in the Project Companies from the Development Sellers, which agreements are identified on Schedule I hereto.

 

“Purchase Price” means, with respect to Sol-Wind, [         ] and, with respect to Holdings, [         ].

 

Section 1.2                                   Interpretive Provisions.  Unless otherwise indicated to the contrary herein by the context or use thereof:  (i) the words, “herein,” “hereto,” “hereof” and words of similar import refer to this Agreement as a whole and not to any particular Section or paragraph hereof; (ii) the word “including” means “including, but not limited to”; (iii) masculine gender shall also include the feminine and neutral genders, and vice versa; and (iv) words importing the singular shall also include the plural, and vice versa.

 

ARTICLE II—PURCHASE AND SALE

 

Section 2.1                                   Purchase and Sale and Assignment and Assumption.  Upon the execution of this Agreement,

 

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(a)                                 Each Seller shall sell, and Purchaser shall purchase from each Seller, the Interests in the Applicable Project Companies free and clear of all Liens.

 

(b)                                 Each Seller shall assign, and Purchaser shall assume, all rights and obligations of such Seller under the Purchase Agreements for the Applicable Project Companies.

 

Section 2.2                                   Closing.

 

(a)                                 The closing of the sale and purchase of the Interests (the “Closing”) will take place upon the execution of this Agreement (the “Closing Date”) at the offices of Milbank, Tweed, Hadley & McCloy LLP, One Chase Manhattan Plaza, New York, New York 10005.

 

(b)                                 At the Closing:

 

(i)                                     Each Seller shall deliver to Purchaser, (A) in the case of Interests that are represented by certificates, the certificates representing the Interests in the Applicable Project Companies, free and clear of all Liens, duly endorsed in blank or accompanied by membership interest transfer powers or other instruments of transfer duly executed in blank, and, (B) in the case of Interests that are not represented by certificates, membership interest transfer powers or other instruments of transfer for the Applicable Project Companies duly executed in blank, in either case together with any required transfer tax stamps affixed thereto;

 

(ii)                                  Each Seller and Purchaser shall duly execute and deliver to the other an Assignment and Assumption Agreement with respect to each Applicable Project Company; and

 

(iii)                               Purchaser shall pay or cause to be paid the applicable Purchase Price to each Seller by wire transfer of immediately available funds to such account as shall be designated by such Seller prior to the Closing.

 

ARTICLE III—REPRESENTATIONS AND WARRANTIES OF SELLER

 

The Sellers hereby jointly and severally represent and warrant to Purchaser as follows:

 

Section 3.1                                   Organization, Good Standing, Qualification and Power.  Each Seller is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware and has all limited liability company power and authority to own, lease and operate its properties and to carry on its business as now being conducted.

 

Section 3.2                                   Authority.  Each Seller has the requisite limited liability company power and authority to execute and deliver this Agreement and to perform its obligations hereunder, all of which have been duly authorized by all requisite limited liability company action on the part of each such Seller.  Each Seller has duly executed and delivered this Agreement.  This Agreement is, or upon its execution and delivery will be (assuming that this Agreement has been duly and validly authorized, executed and delivered by Purchaser), a valid and binding agreement of each Seller, enforceable against each such Seller in accordance with its terms, except as the enforceability hereof or thereof may be limited by (a) applicable bankruptcy,

 

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insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally or (b) applicable equitable principles (whether considered in a proceeding at law or in equity).

 

Section 3.3                                   Non-Contravention. Neither the execution and delivery of this Agreement nor the fulfillment of and the performance by either Seller of its obligations hereunder will (a) contravene any provision contained in such Seller’s Governing Documents or (b) conflict with, violate or result in a breach (with or without the lapse of time, the giving of notice or both) of, or constitute a default (with or without the lapse of time, the giving of notice or both) under (i) any material contract, agreement, commitment, indenture, mortgage, lease, pledge, note, bond, license, permit or other instrument or obligation to which such Seller is a party or by which such Seller is bound or to which such Seller’s assets or properties are subject or (ii) any judgment, order, decree, statute, law, rule or regulation or other restriction of any Governmental Authority to which such Seller is a party or by which such Seller is bound or to which such Seller’s assets or properties are subject; provided, that no representation or warranty is made in the foregoing clause (b) with respect to matters that, individually or in the aggregate, would not reasonably be expected to materially impair such Seller’s ability to consummate the transactions and perform its obligations contemplated hereby.

 

Section 3.4                                   Interests.  At the time of the Closing, each Seller will own of record and beneficially all of the Interests in the Applicable Project Companies.  The delivery of instruments of transfer by each Seller in the manner provided in Section 2.2 will transfer to Purchaser good and valid title to the Interests in the Applicable Project Companies, free and clear of all Liens.

 

Section 3.5                                   Consents.  No notice to, filing with, or authorization, registration, consent or approval of any Governmental Authority or other Person is necessary for the execution, delivery or performance of this Agreement or the consummation of the transactions contemplated hereby by the Sellers other than those that have previously been obtained.

 

Section 3.6                                   Investigation by Sellers; Non-Reliance.  Each Seller is a sophisticated investor with respect to the Interests in the Applicable Project Companies and has received all the information such Seller considers necessary or appropriate for deciding whether to sell the Interests in the Applicable Project Companies.  Each Seller has consulted with its own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent such Seller has deemed necessary and has made its own investment decisions based upon its own judgment and upon any advice from such advisers as it has deemed necessary and not upon, and without reliance upon, any view expressed by Purchaser, the Applicable Project Companies or any other person.

 

Section 3.7                                   Brokers.  No Person is or will be entitled to broker’s, finder’s, investment banker’s, financial advisor’s or similar fees from the Sellers in connection with this Agreement or any of the transactions contemplated hereby.

 

Section 3.8                                   Termination of Factoring Agreements.  At the time of the Closing, each Seller will terminate any and all factoring agreements it has entered into with respect to the Applicable Project Companies.

 

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ARTICLE IV—REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser hereby represents and warrants to the Sellers as follows:

 

Section 4.1                                   Organization.  Purchaser is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite limited liability company power and authority to own, operate and lease its properties and to carry on its business as now being conducted.

 

Section 4.2                                   Authorization.  Purchaser has the requisite limited liability company power and authority to execute and deliver this Agreement and to perform its obligations hereunder, all of which have been duly and validly authorized by all requisite limited liability company action.  Purchaser has duly executed and delivered this Agreement.  The Agreement is, or upon its execution and delivery will be (assuming that this Agreement has been duly and validly authorized, executed and delivered by the Sellers), a valid and binding agreement of Purchaser, enforceable against Purchaser in accordance with its terms, except as the enforceability hereof or thereof may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally or (b) applicable equitable principles (whether considered in a proceeding at law or in equity).

 

Section 4.3                                   Non-contravention.  Neither the execution and delivery of this Agreement nor the fulfillment of and the performance by Purchaser of its obligations hereunder will (a) contravene any provision contained in Purchaser’s Governing Documents or (b) conflict with, violate or result in a breach (with or without the lapse of time, the giving of notice or both) of, or constitute a default (with or without the lapse of time, the giving of notice or both) under (i) any material contract, agreement, commitment, indenture, mortgage, lease, pledge, note, bond, license, permit or other instrument or obligation to which Purchaser is a party or by which Purchaser is bound or to which Purchaser’s assets or properties are subject or (ii) any judgment, order, decree, statute, law, rule or regulation or other restriction of any Governmental Authority to which Purchaser is a party or by which Purchaser is bound or to which Purchaser’s assets or properties are subject; provided, that no representation or warranty is made in the foregoing clause (b) with respect to matters that, individually or in the aggregate, would not reasonably be expected to materially impair Purchaser’s ability to consummate the transactions and perform its obligations contemplated hereby.

 

Section 4.4                                   Consents.  No notice to, filing with, or authorization, registration, consent or approval of any Governmental Authority or other Person is necessary for the execution, delivery or performance of this Agreement or the consummation of the transactions contemplated hereby by Purchaser other than those that have previously been obtained.

 

Section 4.5                                   Brokers.  No Person is or will be entitled to broker’s, finder’s, investment banker’s, financial advisor’s or similar fees from Purchaser in connection with this Agreement or any of the transactions contemplated hereby.

 

Section 4.6                                   Investment Purpose.  Purchaser will be purchasing the Interests for the purpose of investment and not with a view to, or for resale in connection with, the distribution

 

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thereof in violation of applicable federal, state or provincial securities laws.  Purchaser acknowledges that the sale of the Interests hereunder has not been registered under the Securities Act of 1933 (the “Securities Act”) or any state securities laws, and that the Interests may not be sold, transferred, offered for sale, pledged, hypothecated, or otherwise disposed of without registration under the Securities Act, pursuant to an exemption from the Securities Act or in a transaction not subject thereto.  Purchaser represents that it is an “Accredited Investor” as that term is defined in Rule 501 of Regulation D of the Securities Act.

 

ARTICLE V—COVENANTS AND AGREEMENTS

 

Section 5.1                                   Further Assurances.  Following the Closing, each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and the documents to be delivered hereunder.

 

ARTICLE VI—MISCELLANEOUS

 

Section 6.1                                   Notices.  All notices or other communications required or permitted hereunder shall be in writing and shall be delivered personally, by reputable overnight courier, by facsimile, by electronic mail or sent by certified, registered or express air mail, postage prepaid, and shall be deemed given when so delivered personally, or if sent by overnight courier, one Business Day after deposit with such courier, or if by facsimile or electronic mail, on the day received, if prior to 5:00 pm local time of the recipient on a Business Day or, if not, on the next Business Day, or if mailed, four Business Days after the date of mailing, as follows:

 

If to the Sellers:

 

[         ]

 

If to Purchaser:

 

[         ]

 

or to such other address as either party hereto shall notify the other party hereto (as provided above) from time to time.

 

Section 6.2                                   Expenses.  Except as otherwise expressly set forth in the Agreement, each party hereto shall pay its own expenses incident to this Agreement and the transactions contemplated hereby.

 

Section 6.3                                   Governing Law.  All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York.  In furtherance of the foregoing, the internal law of the State of New York shall control the

 

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interpretation and construction of this Agreement, even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply.

 

Section 6.4                                   Jurisdiction and Venue; Expenses.  Each of the parties submits to the exclusive general jurisdiction of any state or federal court within the Borough of Manhattan, the City of New York, New York (the “Court”) and any state or federal appellate court therefrom located within the State of New York (or, only if the Court declines to accept jurisdiction over a particular matter, any state or federal court within the State of New York) in any action or proceeding arising out of or relating to this Agreement, agrees that all claims in respect of the action or proceeding may be heard and determined in the Court and agrees not to bring any action or proceeding arising out of or relating to this Agreement in any court other than the Court.  Each of the parties waives any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other security that might be required of any other party with respect thereto.  Each party agrees that a final, non-appealable judgment in any action or proceeding so brought shall be conclusive and may be enforced by suit on the judgment or in any other manner provided by law.

 

Section 6.5                                   Waiver of Jury Trial.  EACH OF THE PARTIES HERETO WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, ORAL OR WRITTEN STATEMENT OR ACTION OF EITHER PARTY HERETO.

 

Section 6.6                                   Assignment; Successors and Assigns.  Except as otherwise provided herein, this Agreement may not, without the prior written consent of the other party hereto, be assigned by either party, by operation of law or otherwise, and any attempted assignment shall be null and void.  Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, permitted assigns and legal representatives.

 

Section 6.7                                   Counterparts.  This Agreement may be executed in one or more counterparts for the convenience of the parties hereto, each of which shall be deemed an original and all of which together will constitute one and the same instrument.  Delivery of an executed counterpart of a signature page to this Agreement by facsimile shall be effective as delivery of a mutually executed counterpart to this Agreement.

 

Section 6.8                                   Entire Agreement.  This Agreement (including the Schedule hereto) constitutes the entire agreement between the parties with respect to the matters covered hereby and supersedes all previous written, oral or implied understandings between them with respect to such matters.

 

Section 6.9                                   Severability.  The invalidity of any portion hereof shall not affect the validity, force or effect of the remaining portions hereof.  If it is ever held that any restriction hereunder is too broad to permit enforcement of such restriction to its fullest extent, such restriction shall be enforced to the maximum extent permitted by law.

 

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Section 6.10                            No Strict Construction.  Each of the parties hereto acknowledges that this Agreement has been prepared jointly by the parties hereto, and shall not be strictly construed against either party.

 

Section 6.11                            Specific Performance. The Sellers and Purchaser acknowledge that the rights of each party to consummate the transactions contemplated hereby are unique and recognize and affirm that in the event of a breach of this Agreement by either party, money damages may be inadequate and the non-breaching party may have no adequate remedy at law.  Accordingly, the parties agree that such non-breaching party shall have the right, in addition to any other rights and remedies existing in their favor at law or in equity, to enforce their rights and the other party’s obligations not only hereunder but also by an action or actions for specific performance, injunctive and/or other equitable relief (without posting of bond or other security).

 

Section 6.12                            Amendments.  This Agreement (including the provisions of this Section 6.12) may not be amended or modified except by an instrument in writing signed on behalf of the Sellers and Purchaser.

 

* * * * * * *

 

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

 

	
 
    	
SOL-WIND,   LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SOL-WIND   HOLDINGS, LLC
    
	
 
    	
by Sol-Wind, LLC, its sole member
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SOL-WIND   JV SWP LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

 

SCHEDULE I

 

Sol-Wind, LLC

 

	
Project
   Company
    	
 
    	
Interests
    	
 
    	
Development
   Seller
    	
 
    	
Purchase Agreement
    
	
OCI Solar San Antonio 2 LLC
    	
 
    	
100 Class B Member Interests (100%) of OCI   Solar San Antonio 2 LLC
    	
 
    	
OCI Solar Power LLC
    	
 
    	
Membership Interest Purchase Agreement by and   between Sol-Wind, LLC and OCI Solar Power LLC, dated as of February 19,   2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
GLT Cloverdale Solar, LLC
    	
 
    	
100 Class B Member Interests (100%) of GLT   Cloverdale Solar, LLC
    	
 
    	
Greenleaf-TNX Clear Skies IV, LLC
    	
 
    	
Class B Membership Interest Purchase Agreement   by and between Greenleaf-TNX Clear Skies IV, LLC and Sol-Wind, LLC, dated as   of June 18, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PRCC Solar Holding LLC
    	
 
    	
100 Class B Member Interests (100%) of PRCC   Solar Holding LLC
    	
 
    	
GASNA 18 LLC
    	
 
    	
Membership Interest Purchase Agreement by and   between GASNA 18 LLC and Sol-Wind, LLC, dated as of March 27, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
The following eight project entities (each, a “Company” and   together, the “Companies”):

 

·             Greenleaf-TNX Sikh Solar LLC
    ·             SunE GLT Ironwood Solar, LLC
    ·             NLH1 Solar, LLC
    ·             GLT SC1 Solar, LLC
    ·             GLT COMM1 Solar, LLC
    ·             SunE GLT Patton Solar, LLC
    ·             SunE GLT Chuckawalla Solar, LLC
    ·             GLT SLO Solar, LLC
    	
 
    	
100% of the issued and outstanding limited liability   company membership interests in each of the Companies
    	
 
    	
Greenleaf-TNX Clear Skies I, LLC;
   Greenleaf-TNX Clear Skies IV, LLC;
   Greenleaf-TNX Management, LLC; and
   Sunpeak Universal Holdings, Inc.
    	
 
    	
Membership Interest Purchase Agreement by and   between Greenleaf-TNX Clear Skies I, LLC; Greenleaf-TNX Clear Skies IV, LLC;   Greenleaf-TNX Management, LLC; and Sunpeak Universal Holdings, Inc. and   Sol-Wind, LLC, dated as of May 2, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Renewable Energy Project LLC
    	
 
    	
Option to purchase 100 Class B Member Interests   (100%) of Renewable Energy Project LLC
    	
 
    	
South Park US 1, LLC
    	
 
    	
Membership Interest Purchase Option by and between   South Park US 1, LLC and Sol-Wind, LLC, dated as of July 11, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Renewable Energy Project II LLC
    	
 
    	
100 Class B Interests (100%) of Renewable
    	
 
    	
South Park US 2, LLC
    	
 
    	
Class B Membership Interest Purchase Agreement   by and between South Park US 2, LLC and Sol-Wind, LLC, dated
    

 

 

	
Project
   Company
    	
 
    	
Interests
    	
 
    	
Development
   Seller
    	
 
    	
Purchase Agreement
    
	
 
    	
 
    	
Energy Project II LLC
    	
 
    	
 
    	
 
    	
as of October 14, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SAH Holdings LLC
    	
 
    	
100 limited liability company membership interests   (100%) of SAH Holdings LLC
    	
 
    	
Solar Asset Holdings LLC;
   Centaurus Capital LP;
   Goldhill Investments LP;
   Jeffrey McMahon; and
   P&CMB, LLC
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, each of the persons listed on Exhibit A thereto, SAH   Holdings LLC and Solar Asset Holdings LLC, as Seller and as Sellers’   Representative, dated as of August 8, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SunRay Power OPCO I, LLC
    	
 
    	
1,000 limited liability company membership interests (100%) of   SunRay Power OPCO I, LLC
    	
 
    	
Robert Koltun;
   Zor Rothman;
   Paul & Zina Rothman;
   David Khasidy;
   GreenFutures Capital, LLC;
   SunRay Power Management, LLC; and
   SunRay Power, LLC
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, each of the persons listed on Exhibit A thereto, Sunray   Power OPCO I, LLC and Sunray Power LLC, as Seller and as Sellers’   Representative, dated as of August 8, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SunRay Power OPCO II, LLC
    	
 
    	
85,100 limited liability company membership   interests (100%) of SunRay Power OPCO II, LLC
    	
 
    	
24 Persons listed in Exhibit A of the Purchase   Agreement
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, each of the persons listed on Exhibit A thereto, Sunray   Power OPCO II, LLC and Sunray Power LLC, as Seller and as Sellers’   Representative, dated as of August 8, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Palmer Solar Holdings LLC
    	
 
    	
100 Class B Member Interests (100%) of Palmer   Solar Holdings LLC
    	
 
    	
Solar Asset Holdings LLC;
   Centaurus Capital LP;
   Solventerra, LLC;
   Goldhill Investments LP;
   Jeffrey McMahon; and
   P&CMB, LLC
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, each of the persons listed on Exhibit A thereto, Palmer   Solar Holdings LLC and Solar Asset Holdings LLC, as Seller and as Sellers’   Representative, dated as of August 8, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SR Acquisitions Solar LLC
    	
 
    	
1 limited liability company membership interest   (100%) of SR Acquisitions Solar LLC
    	
 
    	
Gregg Wasser
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, each of the persons listed on Exhibit A thereto, SR   Acquisitions Solar, LLC and Gregg Wasser, as Seller and as Sellers’   Representative, dated as of August 8, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SunRay Joint Venture Solar LLC
    	
 
    	
100% of the issued and outstanding limited liability   company
    	
 
    	
Gregg Wasser; and
   SunRay Power, LLC
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, each of the persons listed on
    

 

2

 

	
Project
   Company
    	
 
    	
Interests
    	
 
    	
Development
   Seller
    	
 
    	
Purchase Agreement
    
	
 
    	
 
    	
membership interests of SunRay Joint Venture Solar   LLC
    	
 
    	
 
    	
 
    	
Exhibit A thereto, Sunray Joint Venture Solar   LLC and Gregg Wasser, as Seller and as Sellers’ Representative, dated as of   August 8, 2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Foundation CA Fund VII Manager, LLC
    	
 
    	
100% of the issued and outstanding limited liability   company membership interests of Foundation CA Fund VII Manager, LLC
    	
 
    	
Foundation HA Energy Generation, LLC
    	
 
    	
Membership Interest Purchase Agreement by and among   Sol-Wind, LLC, Foundation HA Energy Generation, LLC and for the purposes of   Section 5.7 as Guarantor, Foundation Windpower, LLC dated as of   August 12, 2014
    

 

3

 

Sol-Wind Holdings, LLC

 

	
Project
   Company
    	
 
    	
Interests
    	
 
    	
Development
   Seller
    	
 
    	
Purchase Agreement
    
	
Solar Eclipse Fund Holding IX, LLC
    	
 
    	
100 Class B Member Interests (100%) of Solar   Eclipse Fund Holding IX, LLC
    	
 
    	
Double Backflip, Inc.
    	
 
    	
Class B Membership Interest Purchase Agreement   by and between Double Backflip, Inc. and Sol-Wind Holdings, LLC, dated   as of July 10, 2014
    

 

4

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