Document:

Unassociated Document

                                                                                                  Exhibit
    10(o)(16)
    AMENDMENT
      NO. 15

    TO
      

    ALLTEL
      CORPORATION 401(k) PLAN

    (January
      1, 2001 Restatement) 

    

    

    WHEREAS,
      Alltel Corporation (the "Company") maintains the Alltel Corporation 401(k)
      Plan,
      as amended and restated effective January 1, 2001, and as subsequently amended
      (the "Plan"); 

    

    WHEREAS,
      pursuant
      to resolutions dated on September 15, 2006, the Board authorized certain
      amendments to the Plan to generally comply with the Pension Protection Act
      of
      2006
      (the "PPA")

    

    NOW
      THEREFORE, BE IT RESOLVED, that the Company hereby amends the Plan in the
      respects hereinafter set forth:

     

    1.    
Effective
      on or after November 30, 2006, Section 11.08 of the Plan is amended to provide
      as follows:

     

    Section
      11.08  Sub-Accounts

     

    A
      Participant’s Separate Account shall be divided into such Sub-Accounts,
      including but not limited to the Profit Sharing Sub-Account described in Article
      XXXIII, as are necessary or appropriate to reflect a Participant’s interest in
      the Trust Fund. 

     

     

    2.    
Effective
      on or after November 30, 2006, Section 16.01 of the Plan is amended to provide
      as follows:

     

    Section
      16.01  Vesting

     

    A
      Participant shall at all times have a fully vested and nonforfeitable interest
      in his
      Separate
      Account except for the Profit Sharing Sub-Account as provided for Article
      XXXIII. 

    

     

    3.    
Effective
      on or after November 30, 2006, Section 18.01 is amended to provide as
      follows:

     

    18.01  
      Application
      for Loan

     

    A
      Participant who is a party in interest (or any other person with a Separate
      Account under the Plan who is a party in interest) may make written application
      to the Plan Administrator for a loan from the amount of his Separate Account
      except for that portion of his Separate Account which is attributable to his
      Profit

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    Sharing
      Sub-Account as described in Article XXXII. Loans shall be made in accordance
      with a written loan policy prescribed by the Plan Administrator, and which
      policy is hereby incorporated into and made a part of the Plan. As collateral
      for any loan granted hereunder, the Participant shall grant to the Plan a
      security interest in up to 50 percent of his vested interest under the Plan
      determined as of the date as of which the loan is originated in accordance
      with
      Plan provisions and, in the case of a Participant who is an active employee,
      also shall enter into an agreement to repay the loan by payroll withholding.
      No
      loan in excess of 50 percent of the Participant's vested interest under the
      Plan
      shall be made from the Plan. Loans shall not be made available to Highly
      Compensated Employees in an amount greater than the amount made available to
      other employees.

     

    A
      loan
      shall not be granted unless the Participant consents to the charging of his
      Separate Account in accordance with the provisions of Section 18.05 for
      unpaid principal and interest amounts in the event the loan is declared to
      be in
      default. 

     

     

    4.    Effective
      on or after November
      30, 2006,
      Section
      19.01 is amended to provide a new paragraph as follows:

     

    
      	
            	
              k.     

            	
              For
                purposes of this Article XIX, a Participant may withdraw amounts
                from his
                Profit Sharing Sub-Account as provided for in Article
                XXXIII.

            

    

     

     

    5.    Effective
      as of November 30, 2006, a new Article XXXIII is added to the end of the Plan
      to
      provide as follows: 

     

    

    ARTICLE
      XXXIII

    PROFIT
      SHARING SUB-ACCOUNT

    

    
      	 	
              32.01

            	
              Establishment
                of Profit Sharing Sub-Account

            

    

     

    Whereas
      the plan is being amended to allow for the transfer of Alltel Corporation Common
      Stock from the Alltel Corporation Profit Sharing Plan (the “Profit Sharing
      Plan”) on or about November 30, 2006 (the “Profit Sharing Sub-Account”). The
      Profit Sharing Sub-Account shall consist of each Participant’s share of funds,
      if any, transferred from the Profit Sharing Plan to the Plan. 

     

    
      	 	
              32.02  

            	
              Vesting

            

    

     

    A
      Participant shall vest in his Profit Sharing Sub-Account in accordance with
      the
      following schedule:

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              Years
                

              of
                Participation Service 

            	
              Vested

              Percentage

            
	 	 
	
              Less
                than 3

               

            	
              0%

               

            
	
              3
                or more

               

            	
              100%

               

            

    

     

    In
      no
      event shall a Participant’s vested interest in his Profit Sharing Sub-Account be
      less than his vested interest in the Profit Sharing Plan immediately prior
      to
      the transfer described in Section 32.01. 

     

    
      	 	
              32.03  

            	
              Forfeiture
                of Profit Sharing 

            

    

     

    If
      a
      Participant who has a termination of service with an Employer is not 100% vested
      in his Profit Sharing Sub-Account, the non-vested portion of his Profit-Sharing
      Sub-Account shall be forfeited as follows:

     

    a.    If
      the
      Participant has no vested interest in his Profit Sharing Sub-Account, the
      non-vested balance of the Participant's Profit Sharing Sub-Account shall be
      a
      forfeiture at the end of the Plan Year in which his termination of service
      occurs; provided that he has not returned to employment prior to such
      date.

     

    b.    If
      the
      value of a Participant's vested interest in his Separate Account as of the
      date
      of distribution does not exceed $1,000 resulting in his receipt of a single
      sum
      payment pursuant to Section 15.04, the non-vested portion of the Participant's
      Profit Sharing Sub-Account shall be a forfeiture at the end of the Plan Year
      in
      which the single sum payment occurs; provided that he has not returned to
      employment prior to such date; and provided, further, that such distribution
      occurs prior to the end of the second Plan Year beginning on or after the
      Participant's termination of service.

     

    c.    If
      the
      value of a Participant's vested interest in his Separate Account as of the
      date
      of distribution exceeds $1,000 and the Participant is eligible for and consents
      in writing to a single sum payment of his vested interest in his Separate
      Account (including his vested Profit Sharing Sub-Account), the non-vested
      portion of the Participant's Profit Sharing Sub-Account shall be a forfeiture
      at
      the end of the Plan Year in which the single sum payment occurs; provided that
      he has not returned to employment prior to such date; and provided, further,
      that such distribution occurs prior to the end of the second Plan Year beginning
      on or after the Participant's termination of service.

     

    If
      paragraphs (a), (b), and (c) of this Section 32.03 are not applicable, the
      non-vested portion of the Participant's Profit Sharing Sub-Account shall be
      a
      forfeiture at the end of the Plan Year in which the Participant incurs five
      

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    consecutive
      one-year breaks during each of which he does not complete more than 500 Hours
      of
      Service. 

     

    Forfeitures
      shall be used to pay the restoration of certain forfeitures described in Section
      32.04 and, to the extent available, administrative expenses of the Plan. To
      the
      extent forfeitures are not exhausted by payment of the foregoing expenses,
      then
      the forfeitures shall be applied against the Employer Contribution obligations
      of the Employer under the Plan.

     

    32.04  Restoration
      of Certain Forfeitures on Reemployment

     

    If
      a
      Participant who had a termination of service returns to employment prior to
      incurring five one-year breaks during each of which he does not complete more
      than 500 Hours of Service, the amount previously forfeited by him (his
      forfeiture) shall be restored to his Profit Sharing Sub-Account as of the last
      day of the Plan Year in which he returns to employment with an Employer,
      provided he has not had a termination of service prior to such date. The funds
      for such restoration shall come first from forfeitures allocated at the end
      of
      such Plan Year, to the extent available and, if necessary, thereafter from
      additional contributions to the Plan by the Employer.

     

    32.05  Loans
      from Profit Sharing Sub-Account

     

    A
      Participant may not make an application for loan for any portion of his Separate
      Account attributable to his Profit Sharing Sub-Account as described in Article
      XVIII.

     

    32.06  Withdrawal
      from Profit Sharing Sub-Account

     

    A
      Participant may not withdraw amounts from his Separate Account attributable
      to
      his Profit Sharing Sub-Account while still employed by a member of the
      Controlled Group as described in Article XIX. 

     

    

     

    

     

    ALLTEL
      CORPORATION

    

    

    

    By:__/s/
      Scott Ford_______________

    Title:
      President and Chief Executive Officer 

     

    
      
        
        

      

      
        4Purchase and Salae Agreement by Centennial

    
 

    

    

    CENTENNIAL
      POWER, INC. and COLORADO ENERGY MANAGEMENT, LLC

     

    PURCHASE
      AND SALE AGREEMENT

     

    BY
      AND
      BETWEEN

     

    CENTENNIAL
      ENERGY RESOURCES LLC,
      as
      SELLER,

     

    and

     

    MONTANA
      ACQUISITION COMPANY LLC, as BUYER

     

    

    

    

    

    Dated
      as
      of April 25, 2007

     

    

    
      
        
        

        
        

      

      
        
        

        
        

      

      
        
        

        
        

      

    

    TABLE
      OF CONTENTS

     

    

     

     ARTICLE
      I DEFINITIONS

     

    
      	 	
              1.1

            	
              Definitions

            

    

    
      	 	
              1.2

            	
              Certain
                Interpretive Matters

            

    

     

     ARTICLE
      II PURCHASE AND SALE

     

    
      	 	
              2.1

            	
              Transfer
                of Stock and Membership Interests

            

    

    
      	 	
              2.2

            	
              Excluded
                Assets

            

    

    
      	 	
              2.3

            	
              Transfer
                of Excluded Assets and Discharge of Certain
                Liabilities

            

    

    
      	 	
              2.4

            	
              Guarantee
                Liabilities

            

    

     

     ARTICLE
      III THE CLOSING

     

    
      	 	
              3.1

            	
              Closing

            

    

    
      	 	
              3.2

            	
              Payment
                of Purchase Price

            

    

    
      	 	
              3.3

            	
              Purchase
                Price Adjustment

            

    

    
      	 	
              3.4

            	
              Deliveries
                by Seller

            

    

    
      	 	
              3.5

            	
              Deliveries
                by Buyer

            

    

    
      	 	
              3.6

            	
              Mutual
                Delivery

            

    

     

     ARTICLE
      IV REPRESENTATIONS, WARRANTIES AND DISCLAIMERS OF SELLER

     

    
      	 	
              4.1

            	
              Organization;
                Qualification

            

    

    
      	 	
              4.2

            	
              Authority
                Relative to this Agreement

            

    

    
      	 	
              4.3

            	
              Consents
                and Approvals; No Violation

            

    

    
      	 	
              4.4

            	
              Insurance

            

    

    
      	 	
              4.5

            	
              Title
                and Related Matters

            

    

    
      	 	
              4.6

            	
              Real
                Property Leases

            

    

    
      	 	
              4.7

            	
              Labor
                Matters

            

    

    
      	 	
              4.8

            	
              Benefit
                Plans

            

    

    
      	 	
              4.9

            	
              Contracts
                and Leases

            

    

    
      	 	
              4.10

            	
              Legal
                Proceedings, etc. 

            

    

    
      	 	
              4.11

            	
              Tax
                Matters

            

    

    
      	 	
              4.12

            	
              Compliance
                With Laws

            

    

    
      	 	
              4.13

            	
              Undisclosed
                Liabilities

            

    

    
      	 	
              4.14

            	
              Subsidiaries

            

    

    
      	 	
              4.15

            	
              Capitalization

            

    

    
      	 	
              4.16

            	
              Financial
                Statements

            

    

    
      	 	
              4.17

            	
              Absence
                of Certain Changes

            

    

    
      	 	
              4.18

            	
              Bankruptcy

            

    

    
      	 	
              4.19

            	
              Books
                and Records

            

    

    
      	 	
              4.20

            	
              Project
                Companies

            

    

    
      	 	
              4.21

            	
              Disclaimers

            

    

     

     ARTICLE
      V REPRESENTATIONS AND WARRANTIES OF BUYER

     

    
      	 	
              5.1

            	
              Organization

            

    

    
      	 	
              5.2

            	
              Authority
                Relative to this Agreement

            

    

    
      	 	
              5.3

            	
              Consents
                and Approvals; No Violation

            

    

    
      	 	
              5.4

            	
              Legal
                Proceedings

            

    

    
      	 	
              5.5

            	
              Inspections

            

    

    
      	 	
              5.6

            	
              Securities
                Laws

            

    

     

     ARTICLE
      VI COVENANTS OF THE PARTIES

     

    
      	 	
              6.1

            	
              Conduct
                of Business

            

    

    
      	 	
              6.2

            	
              Access
                to Information

            

    

    
      	 	
              6.3

            	
              Public
                Statements

            

    

    
      	 	
              6.4

            	
              Expenses

            

    

    
      	 	
              6.5

            	
              Further
                Assurances

            

    

    
      	 	
              6.6

            	
              Consents
                and Approvals

            

    

    
      	 	
              6.7

            	
              Use
                of Centennial Marks

            

    

    
      	 	
              6.8

            	
              Fees
                and Commissions

            

    

    
      	 	
              6.9

            	
              Tax
                Matters

            

    

    
      	 	
              6.10

            	
              Advice
                of Changes

            

    

    
      	 	
              6.11

            	
              Consents

            

    

    
      	 	
              6.12

            	
              Buyer
                Financial Assurance

            

    

    
      	 	
              6.13

            	
              Financing
                Cooperation

            

    

    
      	 	
              6.14

            	
              Employee
                and Benefit Plans

            

    

    
      	 	
              6.15

            	
              Audited
                Financial Statements

            

    

    
      	 	
              6.16

            	
              Hartwell
                Partnership Distributions

            

    

     

     ARTICLE
      VII CONDITIONS

     

    
      	 	
              7.1

            	
              Conditions
                to Obligations of Buyer

            

    

    
      	 	
              7.2

            	
              Conditions
                to Obligations of Seller

            

    

     

     ARTICLE
      VIII INDEMNIFICATION

     

    
      	 	
              8.1

            	
              Indemnification

            

    

    
      	 	
              8.2

            	
              Defense
                of Claims

            

    

    
      	 	
              8.3

            	
              Survival

            

    

     

     ARTICLE
      IX TERMINATION

     

    
      	 	
              9.1

            	
              Termination

            

    

    
      	 	
              9.2

            	
              Procedure
                and Effect of No-Default
                Termination

            

    

    
      	 	
              9.3

            	
              Termination
                Fee; Letter of Credit

            

    

     

     ARTICLE
      X MISCELLANEOUS PROVISIONS

     

    
      	 	
              10.1

            	
              Amendment
                and Modification

            

    

    
      	 	
              10.2

            	
              Waiver
                of Compliance; Consents

            

    

    
      	 	
              10.3

            	
              Notices

            

    

    
      	 	
              10.4

            	
              Assignment

            

    

    
      	 	
              10.5

            	
              Governing
                Law; Venue; Waiver of Jury Trial

            

    

    
      	 	
              10.6

            	
              Counterparts

            

    

    
      	 	
              10.7

            	
              Interpretation

            

    

    
      	 	
              10.8

            	
              Schedules
                and Exhibits

            

    

    
      	 	
              10.9

            	
              Entire
                Agreement

            

    

    
      	 	
              10.10

            	
              U.S.
                Dollars

            

    

    
 

    PURCHASE
      AND SALE AGREEMENT

     

    PURCHASE
      AND SALE AGREEMENT, dated as of April 25, 2007, by and between Centennial Energy
      Resources LLC, a Delaware limited liability company (“Seller”) and Montana
      Acquisition Company, LLC, a Delaware limited liability company (“Buyer”). Seller
      and Buyer are referred to individually as a “Party,” and collectively as the
“Parties.”

     

    W
      I T N E S S E T H

     

    WHEREAS,
      Seller owns the CPI Stock and the CEM Membership Interests (each as defined
      herein); 

     

    WHEREAS,
      Buyer desires to purchase, and Seller desires to sell, the CPI Stock and the
      CEM
      Membership Interests upon the terms and conditions hereinafter set forth in
      this
      Agreement; and

     

    WHEREAS,
      in order to induce Seller to enter into this Agreement, and as additional
      consideration therefor, concurrently with the execution and delivery hereof,
      Buyer is providing to Seller the Buyer LC (as hereinafter defined) in the form
      attached as Exhibit
      A
      hereto,
      to secure Buyer’s payment of the Termination Fee (as hereinafter
      defined).

     

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

     

     

    ARTICLE
      I  

     

    DEFINITIONS

     

    1.1  Definitions. 
      As
      used
      in this Agreement, the following terms have the meanings specified in this
      Section 1.1.

     

    (1)  “338
      Allocation”
has
      the
      meaning set forth in Section 6.9(a)(ii).

     

    (2)  “338(h)(10)
      Election Entities”
has
      the
      meaning set forth in Section 6.9(a)(i).

     

    (3)  “754
      Allocation Schedule”
has
      the
      meaning set forth in Section 6.9(a)(iii).

     

    (4)  “Adjustment”
has
      the
      meaning set forth in section 3.3(a).

     

    (5)  “Affiliate”
has
      the
      meaning set forth in Rule 12b-2 of the General Rules and Regulations under
      the
      Securities Exchange Act of 1934, as amended.

     

    (6)  “Affiliated
      Group”
means,
      with respect to any entity, a group of entities required or permitted to file
      consolidated, combined or unitary Tax Returns including such
      entity.

     

    (7)  “Agreement”
means
      this Purchase and Sale Agreement together with the Schedules and Exhibits
      hereto, as the same may be from time to time amended.

     

    (8)  “Assumption
      Agreement”
has
      the
      meaning set forth in Section 2.4.

     

    (9)  “AT&T
      CAISO ECN Agreement”
has
      the
      meaning set forth in Section 2.2(i).

     

    (10)  “Audits”
has
      the
      meaning set forth in Section 4.11(iv).

     

    (11)  “Benefit
      Agreements”
has
      the
      meaning set forth in Section 4.8.

     

    (12)  “Benefit
      Plans”
has
      the
      meaning set forth in Section 4.8.

     

    (13)  “BIV
      Generation”
means
      BIV Generation Company, L.L.C., a Delaware limited liability
      company.

     

    (14)  “Brush
      1&3 Project”
means
      that certain 75 megawatt gas-fired facility (consisting of one 50 megawatt
      combined-cycle unit and one 25 megawatt simple-cycle unit) located approximately
      90 miles northeast of Denver, Colorado near Brush, Colorado.

     

    (15)  “Brush
      4D Project”
means
      that certain 138 megawatt gas-fired combined-cycle facility located
      approximately 90 miles northeast of Denver, Colorado near Brush,
      Colorado.

     

    (16)  “Business
      Day”
means
      any day other than Saturday, Sunday and any day on which banking institutions
      in
      the State of New York are authorized by law or other governmental action to
      close.

     

    (17)  “Buyer”
has
      the
      meaning set forth in the Preamble.

     

    (18)  “Buyer
      Fundamental Representations”
means
      the representations and warranties contained in Sections 5.1, 5.2 and
      5.3.

     

    (19)  “Buyer
      Indemnitee”
has
      the
      meaning set forth in Section 8.1(b).

     

    (20)  “Buyer
      LC”
has
      the
      meaning set forth in Section 6.12.

     

    (21)  “Buyer
      Material Adverse Effect”
has
      the
      meaning set forth in Section 5.3(a).

     

    (22)  “Buyer
      Required Regulatory Approvals”
has
      the
      meaning set forth in Section 5.3(b).

     

    (23)  “Buyer
      338 Liability”
has
      the
      meaning set forth in Section 6.9(a)(i).

     

    (24)  “CEM”
means
      Colorado Energy Management, LLC, a Colorado limited liability company and
      wholly-owned subsidiary of Seller.

     

    (25)  “CEM
      Agreements”
means
      each contract, license, agreement or personal property lease to which CEM or
      any
      of its Subsidiaries is a party, other than those which involve expenditures
      by
      CEM or any such Subsidiary of less than $250,000 per year.

     

    (26)  “CEM
      Membership Interests”
means
      all of the issued and outstanding membership interests in CEM.

     

    (27)  “Centennial
      Marks”
means
      the name “CENTENNIAL” and other registered or unregistered trademarks, services
      marks, trade names, logos, designs or color schemes featuring the name
“CENTENNIAL”, or any derivative, abbreviation or variation thereof owned or used
      by Seller.

     

    (28)  “Closing”
has
      the
      meaning set forth in Section 3.1.

     

    (29)  “Closing
      Date”
has
      the
      meaning set forth in Section 3.1.

     

    (30)  “Closing
      Statement”
has
      the
      meaning set forth in Section 3.3(b).

     

    (31)  “Code”
means
      the Internal Revenue Code of 1986, as amended.

     

    (32)  “Commercially
      Reasonable Efforts”
means
      efforts which are reasonably necessary to cause, or assist in, the consummation
      of the transactions contemplated by this Agreement and which do not require
      the
      performing Party to expend funds, incur expenses or assume liabilities other
      than those which are reasonable in nature and amount within the context of
      the
      transactions contemplated by this Agreement in order for the performing Party
      to
      satisfy its obligations hereunder.

     

    (33)  “Confidentiality
      Agreement”
means
      the Confidentiality Agreement, dated January 23, 2007, by and between MDU
      Resources Group, Inc. and CES Acquisition Corp.

     

    (34)  “Continuing
      Employees”
has
      the
      meaning set forth in Section 6.14(a).

     

    (35)  “CPI”
means
      Centennial Power, Inc., a Delaware corporation and wholly-owned subsidiary
      of
      Seller.

     

    (36)  “CPI
      Agreements”
means
      each contract, license, agreement or personal property lease to which CPI or
      any
      of its Subsidiaries (other than the Project Companies) is a party, other than
      those which involve expenditures by CPI or any such Subsidiary of less than
      $250,000 per year.

     

    (37)  “CPI
      Stock”
means
      all of the issued and outstanding shares of common stock, no par value, of
      CPI.

     

    (38)  “CPP”
means
      Colorado Power Partners, a Colorado general partnership.

     

    (39)  “Default
      Interest Rate”
means
      a
      rate of interest payable at the lesser of LIBOR plus 200 basis points, or the
      maximum rate permitted by applicable law.

     

    (40)  “Direct
      Claim”
has
      the
      meaning set forth in Section 8.2(c).

     

    (41)  “Designated
      Independent Accounting Firm”
has
      the
      meaning set forth in Section 3.3(d).

     

    (42)  “Election”
has
      the
      meaning set forth in Section 6.9(a)(i).

     

    (43)  “Environmental
      Claim”
means
      any and all pending and/or threatened administrative or judicial actions, suits,
      orders, claims, liens, notices, notices of violations, investigations,
      complaints, requests for information, proceedings, or other written
      communication, whether criminal or civil, pursuant to or relating to any
      applicable Environmental Law based upon, alleging, asserting, or claiming any
      actual or potential (a) violation of, or liability under any Environmental
      Law,
      (b) violation of any Environmental Permit, or (c) liability for investigatory
      costs, cleanup costs, removal costs, remedial costs, response costs, natural
      resource damages, property damage, personal injury, fines, or penalties arising
      out of, based on, resulting from, or related to the presence, Release, or
      threatened Release of any Hazardous Substances at any site owned, leased or
      operated by CPI, CEM or any of their respective Subsidiaries.

     

    (44)  “Environmental
      Condition”
means
      the presence or Release to
      the
      environment at the site of the Project Facilities of Hazardous Substances,
      including any migration of those Hazardous Substances through air, soil or
      groundwater to or from the site of the Project Facilities.

     

    (45)  “Environmental
      Laws”
means
      all applicable Federal, state and local, civil and criminal laws, regulations,
      rules, ordinances, codes, decrees, judgments, directives, or judicial or
      administrative orders relating to pollution or protection of the environment,
      natural resources or human health and safety, including, without limitation,
      laws relating to Releases or threatened Releases of Hazardous Substances
      (including, without limitation, Releases to ambient air, surface water,
      groundwater, land, surface and subsurface strata) or otherwise relating to
      the
      manufacture, processing, distribution, use, treatment, storage, Release,
      transport, disposal or handling of Hazardous Substances. “Environmental Laws”
include, without limitation, CERCLA, the Hazardous Materials Transportation
      Act
      (49 U.S.C. §§ 1801 et seq.), the Resource Conservation and Recovery Act (42
      U.S.C. §§ 6901 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
      Substances Control Act (15 U.S.C. §§ 2601 et seq.), the Oil Pollution Act (33
      U.S.C. §§ 2701 et seq.), the Emergency Planning and Community Right-to-Know Act
      (42 U.S.C. §§ 11001 et seq.), and all applicable other state laws analogous to
      any of the above.

     

    (46)  “Environmental
      Permit”
has
      the
      meaning set forth in Section 4.20(n)(v).

     

    (47)  “Equity
      Commitment Letter”
has
      the
      meaning set forth in Section 6.12.

     

    (48)  “Excluded
      Assets”
has
      the
      meaning set forth in Section 2.2.

     

    (49)  “Excluded
      Agreements”
means
      the AT&T CAISO ECN Agreement, the Hobbs Agreement, the Intercompany Benefit
      Plans and the Wolcon Closure Agreement.

     

    (50)  “Excluded
      Liabilities”
has
      the
      meaning set forth in Section 8.1(h).

     

    (51)  “Excluded
      Taxes”
has
      the
      meaning set forth in Section 8.1(h)(i).

     

    (52)  “FERC”
means
      the Federal Energy Regulatory Commission or any successor agency
      thereto.

     

    (53)  “Financial
      Statements”
has
      the
      meaning set forth in Section 4.16.

     

    (54)  “GAAP”
means
      United States generally accepted accounting principles as in effect on the
      date
      of this Agreement.

     

    (55)  “Governmental
      Authority”
means
      any federal, state or local governmental, regulatory or administrative agency,
      commission, department or board, court or arbitrating body.

     

    (56)  “Guarantee
      Liabilities”
has
      the
      meaning set forth in Section 2.4.

     

    (57)  “Hardin
      Project”
means
      that certain 120 megawatt (gross) coal-fired facility located approximately
      40
      miles southeast of Billings, Montana and two miles north of the city of Hardin,
      Montana.

     

    (58)  “Hartwell
      Partnership”
means
      Hartwell Energy Limited Partnership, a Delaware limited
      partnership.

     

    (59)  “Hartwell
      Project”
means
      that certain 310 megawatt simple-cycle gas-fired facility located approximately
      100 miles northeast of Atlanta, Georgia near Hartwell, Georgia.

     

    (60)  “Hazardous
      Substances”
means
      (a) any petrochemical or petroleum products, oil, radioactive materials, radon
      gas, asbestos in any form that is or could become friable, urea formaldehyde
      foam insulation and transformers or other equipment that contain dielectric
      fluid which may contain levels of polychlorinated biphenyls; (b) any chemicals,
      materials or substances defined as or included in the definition of “hazardous
      substances,” “hazardous wastes,” “hazardous materials,” “hazardous
      constituents,” “restricted hazardous materials,” “extremely hazardous
      substances,” “toxic substances,” “contaminants,” “pollutants,” “toxic
      pollutants” or words of similar meaning and regulatory effect under any
      applicable Environmental Law; and (c) any other chemical, material or substance,
      exposure to which is prohibited, limited or regulated by any applicable
      Environmental Law.

     

    (61)  “Hobbs
      Agreement”
has
      the
      meaning set forth in Section 2.2(c).

     

    (62)  “HSR
      Act”
means
      the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
      amended.

     

    (63)  “Income
      Tax”
means
      any federal, state or local Tax (a) based upon, measured by or calculated with
      respect to net income, profits or receipts (including, without limitation,
      capital gains Taxes and minimum Taxes) or (b) based upon, measured by or
      calculated with respect to multiple bases (including, without limitation,
      corporate franchise taxes) if one or more of the bases on which such Tax may
      be
      based, measured by or calculated with respect to, is described in clause (a),
      in
      each case together with any interest, penalties, or additions to such
      Tax.

     

    (64)  “Indebtedness”
means,
      without duplication, all obligations of CEM, CPI or its Subsidiaries
      (a) for borrowed money; (b) evidenced by bonds, debentures, notes or
      similar instruments; (c) in respect of the deferred purchase price of property
      or services (excluding accounts payable and other current liabilities incurred
      in the ordinary course of business consistent with past practice which would
      be
      reflected in Working Capital); (d) in respect of capital lease obligations;
      (e) with respect to interest rate and currency cap, collar, hedging or swap
      agreements; (f) conditional sale or other title retention agreements;
      (g) reimbursement obligations with respect to letters of credit, bankers
      acceptances and surety bonds; and (h) under guarantee by CEM, CPI or any
      Subsidiary on account of any of the foregoing types of indebtedness of any
      other
      Person.

     

    (65)  “Indemnifiable
      Loss”
has
      the
      meaning set forth in Section 8.1(a).

     

    (66)  “Indemnifying
      Party”
has
      the
      meaning set forth in Section 8.1(d).

     

    (67)  “Indemnitee”
has
      the
      meaning set forth in Section 8.1(c)(i).

     

    (68)  “Independent
      Accounting Firm”
means
      an independent accounting firm of national reputation.

     

    (69)  “Initial
      Closing Statement”
has
      the
      meaning set forth in Section 3.3(b).

     

    (70)  “Inspection”
means
      all tests, reviews, examinations, inspections, investigations, verifications,
      samplings and similar activities conducted by Buyer or its agents or
      Representatives with respect to the Project Facilities.

     

    (71)  “Intellectual
      Property Rights”
means
      all common law and statutory rights associated with patents and industrial
      designs, copyrights, trademarks, trade names, service marks, service names,
      know-how, processes, trade secrets, inventions, proprietary rights, formulae,
      research, databases and computer programs.

     

    (72)  “Intercompany
      Benefit Plans”
has
      the
      meaning set forth in Section 2.2(g).

     

    (73)  “Investor
      Subsidiaries”
means
      the Persons listed as such in Schedule
      4.14.

     

    (74)  “IRS”
means
      the United States Internal Revenue Service or any successor agency
      thereto.

     

    (75)  “Knowledge”
means
      the actual knowledge of Paul Gatzemeier, Bill Connors, Darcy Neigum, Kari
      Knudson, Jim Nolan, Trevor Hastings or Rodney Bellendir, assuming Commercially
      Reasonable Efforts to acquire such knowledge.

     

    (76)  “LIBOR”
means
      a
      rate per annum (rounded upwards if necessary, to the nearest 1/16th of 1%)
      equal
      to the arithmetic mean of the offered rate for three month deposits in dollars
      in the London Interbank Market at approximately 11:00 a.m. (London time), which
      appears on the Telerate Screen designated as Page 3570 of the Reuters Monitor
      Money Rates Service.

     

    (77)  “Liens”
means
      any mortgages, pledges, liens, security interests, conditional and installment
      sale agreements, activity and use limitations, conservation or other easements,
      restrictive covenants, deed restrictions, leases, licenses, other rights of
      occupancy and any other encumbrances or charges of any kind.

     

    (78)  “Major
      Project Contracts”
means
      all of the Project Contracts, with respect to each Project Company, other that
      those which involve expenditures by such Project Company of less than $250,000
      per year.

     

    (79)  “Material
      Adverse Effect”
means
      any matter that individually or taken as a whole with all other matters that
      has
      had or is reasonably likely to cause a material and adverse change in, or effect
      on, the assets or financial condition of CEM and CPI, or the business or
      operations of CEM and CPI, provided however,
      that
      the term Material Adverse Effect shall not include any state of facts,
      circumstance, change, development, effect, condition or occurrence to the extent
      resulting from: (a) conditions that generally affect the electric generation
      industry or the construction services industry, (b) economic conditions
      affecting the United States securities markets generally and (c) new legal,
      accounting or regulatory requirements or limitations, except to the extent
      such
      matters have an effect on CPI and CEM that is disproportionate in any material
      respect to the effect on other similarly situated participants in their
      respective industry.

     

    (80)  “Material
      Contract”
has
      the
      meaning set forth in Section 6.1.

     

    (81)  “MDU
      Affiliated Group”
has
      the
      meaning set forth in Section 6.9(b)(i).

     

    (82)  “Mountain
      View Project”
means
      that certain 67 megawatt wind power project consisting of 111 wind turbines
      and
      associated equipment located in the San Gorgonio Pass near Palm Springs,
      California.

     

    (83)  “MVPP”
means
      Mountain View Power Partners, LLC, a Delaware limited liability
      company.

     

    (84)  “New
      125 Plan”
has
      the
      meaning set forth in Section 6.14(b).

     

    (85)  “Objection
      Notice”
has
      the
      meaning set forth in Section 3.3(d).

     

    (86)  “Party”
or
      “Parties”
has
      the
      meaning set forth in the Preamble.

     

    (87)  “Permitted
      Liens”
means
      (a) Liens on property existing at the time of the acquisition thereof by a
      Project Company, (b) statutory Liens for taxes and other governmental charges
      not yet due and payable, (c) Liens securing the payment of Taxes that are either
      due but not delinquent or being contested in good faith and for which adequate
      reserves in accordance with GAAP have been established, (d) mechanics’,
      carriers’, workers’, warehouse and other similar Liens arising in the ordinary
      course of business relating to obligations as to which a Project Company is
      not
      in default, (e) zoning, entitlement, conservation restriction and other land
      use
      and environmental regulations by Governmental Authorities, (f) Liens,
      imperfections in title, charges, easements and restrictions which, in the
      aggregate, do not materially detract from the value of the CPI Stock and the
      CEM
      Membership Interests or materially impair the intended use of the property
      subject thereto, and (g) Liens created by or arising by reason of this
      Agreement, the Major Project Contracts, the CEM Agreements, the CPI Agreements
      or the Project Company Agreements.

     

    (88)  “Person”
means
      any individual, partnership, limited liability company, joint venture,
      corporation, trust, unincorporated organization, or governmental entity or
      any
      department or agency thereof.

     

    (89)  “Pre-Closing
      Tax Period”
means
      any Tax period ending on or prior to the Closing Date.

     

    (90)  “Project”
means
      one or all of the following, as the case may require: the Brush 1&3 Project,
      the Brush 4D Project, the Mountain View Project, the Hardin Project, the San
      Joaquin Project, and the Hartwell Project.

     

    (91)  “Project
      Companies”
means
      BIV Generation, CPP, Hartwell Partnership, MVPP, RMP and SJC.

     

    (92)  “Project
      Company Agreement”
means,
      for each of the Project Companies, the limited liability company agreement,
      partnership agreement, by-laws or other organizational document of such Project
      Company.

     

    (93)  “Project
      Company Interests”
means,
      in respect of each Project Company, the ownership interest of each Person listed
      as a direct parent with respect to such Project Company as set forth in
Schedule
      4.14,
      together with all of the rights and obligations of such Person under the Project
      Company Agreement for such Project Company, including without limitation, its
      rights and obligations as a member, shareholder, or general or limited partner,
      as the case may be, under such Project Company Agreement or applicable
      law.

     

    (94)  “Project
      Contracts”
means,
      with respect to a Project Company, all contracts, agreements and commitments,
      including without limitation, mortgages, indentures and loan agreements, to
      which such Project Company is a party.

     

    (95)  “Project
      Facilities”
means
      those facilities, land, fixtures, equipment and other assets owned or leased
      by
      the Project Companies.

     

    (96)  “Project
      Permits”
means,
      with respect to each Project Company, the material permits, licenses, or similar
      authorizations from any Governmental Authority required with respect to the
      business or property of such Project Company as presently conducted or
      owned.

     

    (97)  “Proprietary
      Information”
of
      a
      Party means all information about the Party or its Affiliates, including their
      respective properties or operations, furnished to the other Party or its
      Representatives by the Party or its Representatives regardless of the manner
      or
      medium in which it is furnished, including information provided to a Party
      pursuant to the Confidentiality Agreement. In addition, after the Closing Date,
      Proprietary Information includes any non-public information regarding CEM,
      CPI,
      the Investor Subsidiaries, the Service Subsidiaries, the Project Companies
      or
      the transactions contemplated by this Agreement. Proprietary Information does
      not include information that: (a) is or becomes generally available to the
      public (other than as a result of a disclosure by the other Party or its
      Representatives in violation of a confidentiality agreement); (b) was available
      to the other Party on a nonconfidential basis prior to its disclosure by the
      Party or its Representatives; (c) becomes available to the other Party on a
      nonconfidential basis from a person, other than the Party or its
      Representatives, who is not otherwise bound by a confidentiality agreement,
      or
      is not under any obligation not to transmit the information to the other Party
      or its Representatives; or (d) is independently developed by the other
      Party.

     

    (98)  “Purchase
      Price”
has
      the
      meaning set forth in Section 3.2.

     

    (99)  “Real
      Property Leases”
has
      the
      meaning set forth in Section 4.6.

     

    (100)  “Release”
means
      release, spill, leak, discharge, dispose of, pump, pour, emit, empty, inject,
      leach, dump or allow to escape into or through the environment.

     

    (101)  “Replacement
      PPA”
has
      the
      meaning set forth in Section 6.1(b).

     

    (102)  “Representatives”
of
      a
      Party means its directors, officers, employees, agents, partners, advisors
      (including, without limitation, accountants, counsel, environmental consultants,
      financial advisors and other authorized representatives) and the Party’s
      Affiliates, parents and other controlling persons.

     

    (103)  “RMP”
means
      Rocky Mountain Power, Inc., a Montana corporation.

     

    (104)  “San
      Joaquin Project”
means
      that certain 48 megawatt simple-cycle gas-fired facility located approximately
      73 miles east of San Francisco in Lathrop, California.

     

    (105)  “SEC”
means
      the Securities and Exchange Commission and any successor agency
      thereto.

     

    (106)  “Section 338(h)(10)
      Elections”
has
      the
      meaning set forth in Section 6.9(a)(i).

     

    (107)  “Securities
      Act”
has
      the
      meaning set forth in Section 5.6.

     

    (108)  “Seller”
has
      the
      meaning set forth in the Preamble.

     

    (109)  “Seller
      125 Plan”
has
      the
      meaning set forth in Section 6.14(b).

     

    (110)  “Seller
      401(k) Plan”
has
      the
      meaning set forth in Section 6.14(c).

     

    (111)  “Seller
      Fundamental Representations”
means
      the representations and warranties of Seller contained in Sections 4.1, 4.2,
      4.3, 4.5, 4.9(a)(A), 4.14, 4.15 and 4.20(a)-(d) and (k)(iv).

     

    (112)  “Seller
      Health Plan”
has
      the
      meaning set forth in Section 6.14(a).

     

    (113)  “Seller’s
      Indemnitee”
has
      the
      meaning set forth in Section 8.1(a).

     

    (114)  “Seller’s
      Required Regulatory Approvals”
has
      the
      meaning set forth in Section 4.3(b).

     

    (115)  “Service
      Subsidiaries”
means
      the Persons listed as such on Schedule
      4.14.

     

    (116)  “Shared
      Assets and Services”
means
      (a) any equipment, hardware, software, materials, technologies;
      (b) services, including those required for telecommunications, human
      resources, logistics and accounting; and (c) their related Intellectual
      Property Rights, purchased or licensed by Seller for the benefit of, and/or
      which are shared among, CEM, CPI, Seller and/or any Affiliates or Subsidiaries
      of Seller.

     

    (117)  “SJC”
means
      San Joaquin Cogen, L.L.C, a Delaware limited liability company.

     

    (118)  “Straddle
      Period”
means
      any Tax period beginning on or prior to and ending after the Closing
      Date.

     

    (119)  “Subsidiary”
when
      used in reference to any Person means any entity: (a) of which outstanding
      securities having ordinary voting power to elect a majority of the Board of
      Directors or other Persons performing similar functions of such entity are
      owned
      directly or indirectly by such Person; or (b) that does not have outstanding
      shares or securities but whose ownership interest representing the right to
      manage such entity is now or hereafter owned and controlled by such Person
      directly or indirectly.

     

    (120)  “Target
      Entities”
has
      the
      meaning set forth in Section 6.9(b)(i).

     

    (121)  “Tax
      Contest”
has
      the
      meaning set forth in Section 6.9(d)(i).

     

    (122)  “Taxes”
means
      (a) all taxes, charges, fees, levies, penalties or other assessments imposed
      by
      any federal, state or local taxing authority, including, but not limited to,
      income, excise, real or personal property, sales, transfer, franchise, payroll,
      withholding, social security, gross receipts, license, stamp, occupation,
      employment or other taxes, including any interest, penalties or additions
      imposed with respect thereto, and (b) any transferee liability in respect of
      any
      items described in clause (a) above resulting from a transfer of assets that
      occurred prior to the Closing Date.

     

    (123)  “Tax
      Return”
means
      any return, report, information return, declaration or other document filed
      or
      required to be filed with a taxing authority with respect to Taxes, including
      any schedule or attachment thereto or amendment thereof.

     

    (124)  “Termination
      Date”
has
      the
      meaning set forth in Section 9.1(b).

     

    (125)  “Third
      Independent Accounting Firm”
has
      the
      meaning set forth in Section 3.3(d).

     

    (126)  “Third
      Party Claim”
has
      the
      meaning set forth in Section 8.2(a).

     

    (127)  “Transfer
      Taxes”
has
      the
      meaning set forth in Section 6.9(f).

     

    (128)  “Treasury
      Regulations”
means
      the income tax regulations promulgated by the United States Department of
      Treasury under the Code, including temporary regulations, as such regulations
      may be amended from time to time (including corresponding provisions of
      succeeding regulations).

     

    (129)  “Wolcon
      Closure Agreement”
has
      the
      meaning set forth in Section 2.2(h).

     

    (130)  “Working
      Capital”
means
      the total current assets less total current liabilities, as determined in
      accordance with GAAP, except
      that (a)
      cash and cash equivalents, cash held by CEM for third parties, loan origination
      fees currently being amortized, prepaid insurance that is non-transferable,
      Income Tax assets, accounts receivable related to the sale of Lea Power Partners
      and all intercompany receivables shall be excluded from the calculation of
      current assets and (b) all deferred revenue amounts (billings in excess of
      cost)
      associated with the sale of Lea Power Partners and revenue recognition for
      the
      Hobbs project, Brush 4D deferred revenue (EITF 91-6), third party payables
      associated with third party cash accounts, accrued interest payable on debt,
      current portion of long-term debt due in one year, accrued employee bonuses,
      Income Taxes payable, Taxes payable resulting from any transaction or event
      that
      is not in the ordinary course of business and occurs after the Closing on the
      Closing Date, intercompany payables, SO2
      emission
      credits payable (net of related intangible asset) and accrued allocable payroll
      Taxes and employee benefit costs for Seller’s employees shall be excluded from
      the calculation of current liabilities.

     

    (131)  “Working
      Capital Amount”
has
      the
      meaning set forth in Section 3.3.

     

    1.2  Certain
      Interpretive Matters. 
      In
      this
      Agreement, unless the context otherwise requires, the singular shall include
      the
      plural, the masculine shall include the feminine and neuter, and vice versa.
      The
      term “includes” or “including” shall mean “including without limitation.”
References to a Section, Article, Exhibit or Schedule shall mean a Section,
      Article, Exhibit or Schedule of this Agreement, and reference to a given
      agreement or instrument shall be a reference to that agreement or instrument
      as
      modified, amended, supplemented and restated through the date as of which such
      reference is made.

     

    ARTICLE
      II  

     

    PURCHASE
      AND SALE

     

    2.1  Transfer
      of Stock
      and Membership Interests. 
      Upon
      the
      terms and subject to the satisfaction of the conditions contained in this
      Agreement, at the Closing Seller will sell, assign, convey, transfer and deliver
      to Buyer, and Buyer will purchase and acquire from Seller, free and clear of
      all
      Liens, and subject to Section 2.2 and the other terms and conditions of this
      Agreement, all of Seller’s right, title and interest in and to the CPI Stock and
      the CEM Membership Interests.

     

    2.2  Excluded
      Assets. 
      Notwithstanding
      anything to the contrary in this Agreement, nothing in this Agreement will
      constitute or be construed as conferring on Buyer, and Buyer is not acquiring,
      any right, title or interest in or to the following specific assets of CPI
      and
      CEM and their respective Subsidiaries, which are hereby specifically excluded
      from the sale (the “Excluded Assets”):

     

    (a)  All
      cash
      and cash equivalents, other than cash accounts maintained by CEM for third
      parties, checkbooks, canceled checks and bank deposits; 

     

    (b)  All
      refunds or credits of or against Excluded Taxes or any other Taxes that are
      the
      responsibility of Seller pursuant to this Agreement;

     

    (c)  The
      LLC
      Membership Interest Purchase and Sale Agreement by and between CPI and Hobbs
      Power Funding, LLC, dated October 20, 2006 (the “Hobbs Agreement”), and any and
      all rights of CPI thereunder;

     

    (d)  Any
      and
      all rights of CPI to receive distributions or payments, directly or indirectly,
      from the Hartwell Partnership with respect or to the extent allocable to all
      periods prior to the Closing Date as provided in Section 6.16;

     

    (e)  The
      Centennial Marks;

     

    (f)  The
      assets of any employee benefit plan covering employees of CPI, CEM or any of
      their respective Affiliates, other than the assets of the Seller 125 Plan and
      the Seller 401(k) Plan held for the benefit of employees of CPI or CEM;

     

    (g)  The
      Benefit Plans identified as the MDU Plans and the Payflex Agreement on Schedule
      4.8 (collectively, the “Intercompany Benefit Plans”); 

     

    (h)  The
      Wolcon Closure Agreement between RMP and Wolcon, dated March 28, 2005 (the
“Wolcon Closure Agreement”), and any and all rights of RMP thereunder;

     

    (i)  The
      First
      Amended and Restated Form of Connected Entity Access Services Agreement between
      AT&T Corp. and MVPP, dated July 22, 2004 (the “AT&T CAISO ECN
      Agreement”), and any and all rights of MVPP thereunder;

     

    (j)  All
      Shared Assets and Services;

     

    (k)  The
      assets set forth on Schedule
      2.2(k);
      and

     

    (l)  The
      insurance policies set forth on Schedules
      4.4
      and
4.20(k)(ii).

     

    2.3  Transfer
      of Excluded Assets
      and
      Discharge of Certain Liabilities. 
      Not
      later
      than immediately prior to the Closing, Seller shall cause each of CPI, CEM
      and
      their respective Affiliates, as applicable, to transfer all Excluded Assets,
      except for those portions of the Shared Assets and Services required for
      continued use by CPI or CEM (the terms and use of which the Parties shall agree
      to in good faith prior to the Closing), to Seller or one or more of Seller’s
      Affiliates, and
      Seller shall cause CPI, CEM and their respective Affiliates, as applicable,
      to
      be discharged and released from all liabilities and obligations arising under
      the Excluded Agreements.
      All
      costs and expenses, including Taxes associated with such transfer shall be
      for
      the Seller’s account.

     

    2.4  Guarantee
      Liabilities. 
      Seller
      and Buyer shall use their Commercially Reasonable Efforts to cause the release
      and discharge of Seller and any Affiliate of Seller (other than CEM, CPI, the
      Investor Subsidiaries, the Service Subsidiaries and the Project Companies)
      from
      their obligations under the guarantee or other credit support agreements listed
      on Schedule
      2.4
      (the
“Guarantee Liabilities”) as of the Closing Date. To the extent that Seller or
      any such Affiliate of Seller is not fully released and discharged from its
      obligations under the Guarantee Liabilities, Buyer shall indemnify, defend
      and
      hold harmless Seller and any such Affiliates of Seller from and against any
      and
      all Indemnifiable Losses asserted against or suffered by Seller or any such
      Affiliates of Seller relating to or arising out of the Guarantee Liabilities
      as
      provided in Section 8.1, and at the Closing, Buyer shall deliver to Seller
      an
      Assumption Agreement substantially in the form attached hereto as Exhibit
      B
      (the
“Assumption Agreement”) pursuant to which Buyer shall assume and agree to
      discharge when due each and every obligation and liability arising on or after
      the Closing Date under each of the Guarantee Liabilities.

     

    ARTICLE
      III  

     

    THE
      CLOSING

     

    3.1  Closing. 
      Upon
      the
      terms and subject to the satisfaction of the conditions contained in Article
      VII
      of this Agreement, the sale and delivery of the CPI Stock and the CEM Membership
      Interests to Buyer, the payment of the Purchase Price to Seller, and the
      consummation of the other respective obligations of the Parties contemplated
      by
      this Agreement shall take place at a closing (the “Closing”), to be held at the
      offices of Thelen Reid Brown Raysman & Steiner LLP, 875 Third Avenue, New
      York, New York at 10:00 a.m. local time, or another mutually acceptable time
      and
      location, on the date that is five (5) Business Days (or such later date as
      may
      be provided by Section 6.15 hereof) following the date on which the last of
      the
      conditions precedent to Closing set forth in Article VII of this Agreement
      have
      been either satisfied or waived by the Party for whose benefit such conditions
      precedent exist or such other date as the Parties may mutually agree. The date
      of Closing is hereinafter called the “Closing Date.” The Closing shall be
      effective for all purposes as of 12:01 a.m. on the Closing Date.

     

    3.2  Payment
      of Purchase Price. 
      Upon
      the
      terms and subject to the satisfaction of the conditions contained in this
      Agreement, in consideration of the aforesaid sale, assignment, conveyance,
      transfer and delivery of the CPI Stock and CEM Membership Interests, Buyer
      will
      pay or cause to be paid to Seller at the Closing an aggregate amount of Six
      Hundred Million United States Dollars (U.S. $600,000,000) subject to adjustment
      as provided in Section 3.3 (the “Purchase Price”) by wire transfer of
      immediately available funds denominated in U.S. Dollars or by such other means
      as are agreed upon by Seller and Buyer, as adjusted pursuant to Section
      3.3.

     

    3.3  Purchase
      Price Adjustment.

     

    (a)  The
      Purchase Price is premised upon CEM and CPI having as of the Closing Date and
      delivering to Buyer an aggregate Working Capital of Zero Dollars ($0) (the
      “Working Capital Amount”). Accordingly, the Purchase Price shall be (i)
      increased by the amount, if any, by which the aggregate Working Capital of
      CEM
      and CPI as of the Closing Date is greater than the Working Capital Amount,
      or
      (ii) decreased by the amount, if any, by which the aggregate Working Capital
      of
      CEM and CPI as of the Closing Date is less than the Working Capital Amount.
      Any
      such adjustment to the Purchase Price shall be effected in accordance with
      this
      Section 3.3 (the “Adjustment”).

     

    (b)  Seller
      agrees to prepare and deliver to Buyer at least five (5) Business Days prior
      to
      the Closing Date an unaudited consolidated balance sheet and income statement
      for each of CEM and CPI reflecting the financial condition of each of CEM and
      CPI as of the most recent month end prior to the Closing Date, together with
      a
      statement setting forth (i) the estimated aggregate Working Capital of CEM
      and
      CPI as of the Closing Date and (ii) the Adjustment, if any, pursuant to clauses
      (i) and (ii) of Section 3.3(a), above (the “Initial Closing Statement”). Within
      sixty (60) days after the Closing Date, Buyer shall prepare and deliver to
      Seller an unaudited consolidated balance sheet and income statement reflecting
      the financial condition of each of CEM and CPI as of the Closing Date, together
      with a statement setting forth (i) the aggregate Working Capital of CEM and
      CPI
      as of the Closing Date and (ii) the Adjustment, if any, pursuant to clauses
      (i)
      and (ii) of Section 3.3(a) above (the “Closing Statement”). The Initial Closing
      Statement and the Closing Statement shall be prepared in a manner consistent
      with the application of the accounting principles, practices and procedures
      of
      the Financial Statements and the provisions of this Agreement.

     

    (c)  If
      the
      Initial Closing Statement sets forth an aggregate Working Capital of CEM and
      CPI
      greater than the Working Capital Amount and a corresponding upward adjustment
      to
      the Purchase Price, then the Purchase Price payable on the Closing Date shall
      be
      increased by an amount equal to such Adjustment. If the Initial Closing
      Statement sets forth the aggregate Working Capital of CEM and CPI less than
      the
      Working Capital Amount and a corresponding downward adjustment to the Purchase
      Price, then the Purchase Price payable on the Closing Date shall be decreased
      by
      an amount equal to such Adjustment. If the aggregate Working Capital of CEM
      and
      CPI as set forth on the Closing Statement is different than that included on
      the
      Initial Closing Statement, then (i) to the extent that the Working Capital
      on
      the Closing Statement is greater than the Working Capital on the Initial Closing
      Statement, Buyer shall pay to Seller an amount equal to the absolute value
      of
      such difference, and (ii) to the extent that the Working Capital on the Closing
      Statement is less than the Working Capital on the Initial Closing Statement,
      Seller shall pay to Buyer an amount equal to the absolute value of such
      difference, subject to Section 3.3(d) below. In each case, such payment shall
      be
      made in cash in immediately available funds within twenty (20) days after the
      date the Closing Statement becomes final under Section 3.3(d). The Purchase
      Price shall be deemed to be increased or decreased (as the case may be) by
      the
      amounts calculated under this Section 3.3(c). The Parties agree that for Income
      Tax and all other Tax purposes, the Parties shall and shall cause their
      Affiliates to calculate and timely report such increase or decrease with respect
      to CPI and CEM on a separate entity basis. The Parties shall promptly agree
      upon
      revisions to all of the allocations prepared pursuant to Section 6.9(a) to
      reflect such increase or decrease, and the Parties shall and shall cause their
      Affiliates to not take a position on any Tax Return, with any Tax authority,
      or
      otherwise that is inconsistent with such calculations and revised allocations,
      except to the extent specifically required pursuant to this
      Agreement.

     

    (d)  Each
      Party shall make available to the other Party its work papers used to prepare
      its respective closing statement, and shall cooperate with the other Party
      in
      connection with the preparation thereof. Seller shall notify Buyer in writing
      within twenty (20) days after receipt by Seller of the Closing Statement of
      any
      objection to the items set forth therein, which notice shall include a
      reasonably detailed explanation of the reasons for each objection by Seller
      (an
“Objection Notice”), provided, that the Seller may only object to the items
      contained in the Closing Statement to the extent any such item was not prepared
      in accordance with this Agreement or contains mathematical errors. Any item
      not
      so objected to by Seller shall be conclusively deemed to have been approved
      by
      Seller and shall be conclusive and binding upon the Parties. If the Parties
      are
      unable to resolve such dispute within thirty (30) days after the date of receipt
      by Seller of the Closing Statement, then Buyer and Seller shall agree upon
      and
      designate an Independent Accounting Firm (the “Designated Independent Accounting
      Firm”) and the Designated Independent Accounting Firm shall, within fifteen (15)
      days of its appointment, make a final and binding determination solely of the
      matters that remain in dispute and were properly included in the Objection
      Notice, and, based on such resolution, a final and binding determination of
      the
      Adjustment amount, if any. If Buyer and Seller are unable to agree upon a
      Designated Independent Accounting Firm, then each of the Buyer and Seller shall
      designate one Independent Accounting Firm and the two Independent Accounting
      Firms so selected shall, within ten (10) days after the date on which the later
      of the two Independent Accounting Firms are appointed, appoint a third
      Independent Accounting Firm (the “Third Independent Accounting Firm”) and the
      Third Independent Accounting firm shall, within fifteen (15) days of its
      appointment, make a final and binding determination solely of the matters that
      remain in dispute and were properly included in the Objection Notice, and,
      based
      on such resolution, a final and binding determination of the Adjustment amount,
      if any. The Designated Independent Accounting Firm or the Third Independent
      Accounting Firm, as the case may be, shall act on the following basis: such
      Independent Accounting Firm shall act as an expert and not as an arbitrator;
      its
      terms of reference shall be to determine the appropriate Adjustment within
      fifteen (15) days of its appointment, having strict regard to the application
      of
      the terms of this Agreement to the same (and, for the avoidance of doubt,
      disregarding other means of calculating the same, to the extent that such means
      are inconsistent with or not provided for in this Agreement); Buyer and Seller
      shall each provide such Independent Accounting Firm with all such information
      as
      it reasonably requires and the Independent Accounting Firm shall base its
      decision solely on such written submissions by Buyer and Seller and their
      respective representatives; such Independent Accounting Firm shall not hold
      any
      hearings, hear any oral testimony or otherwise seek or require any other
      evidence and it may not assign a value greater than the greatest value for
      such
      item claimed by either Party or smaller than the smallest value for such item
      claimed by either Party. The final written determination of such Independent
      Accounting Firm shall (in the absence of fraud or manifest error) be conclusive
      and binding on the Parties. The Independent Accounting Firms shall not have
      the
      power to amend or modify any terms of this Agreement. The costs of the
      Independent Accounting Firms shall be borne pro rata by Seller and Buyer in
      proportion to the difference between the Designated Independent Accounting
      Firm’s or the Third Independent Accounting Firm’s, as the case may be, final
      determination of any Adjustment amount and each of Buyer’s and Seller’s
      determination of such Adjustment amount. For example, if Buyer calculated an
      Adjustment amount of $100,000, Seller calculated an Adjustment amount of $50,000
      and the
      Designated Independent Accounting Firm or the Third Independent Accounting
      Firm,
      as the case may be, calculated
      an Adjustment amount of $60,000, Buyer would pay that portion of the Independent
      Accounting Firms’ fees determined by dividing $40,000 ($100,000 - $60,000) by
      $50,000 ($100,000 - $50,000) (i.e.,
      80%)
      and Seller would pay the remaining 20% of such fees.

     

    (e)  Any
      disputed amounts or any amounts not paid within five (5) days of when due and
      owing, plus interest thereon at the Default Interest Rate which shall have
      accrued from the due date until the date of payment, shall be paid in accordance
      with Section 3.3(c) above within ten (10) days after the date the Designated
      Independent Accounting Firm or the Third Independent Accounting Firm, as the
      case may be, provides to both Parties its final written determination pursuant
      to Section 3(d) above. In addition, any amount not paid within ten (10) days
      of
      when due if not disputed in accordance with Section 3.3(d) above shall accrue
      interest at the Default Interest Rate. 

     

    (f)  Each
      of
      the Parties agrees and undertakes to the other to provide all reasonable access,
      necessary data and information, and to assist in the calculations referred
      to in
      this Section 3.3.

     

    3.4  Deliveries
      by Seller. 
      At
      the
      Closing, Seller will deliver, or cause to be delivered, the following to
      Buyer:

     

    (a)  A
      stock
      certificate or certificates representing the CPI Stock accompanied by a stock
      power duly endorsed to Buyer;

     

    (b)  The
      CEM
      ownership ledger marked with appropriate notations evidencing the transfer
      of
      the CEM Membership Interests to Buyer;

     

    (c)  Resignations
      of all directors and officers of CPI, CEM, the Investor Subsidiaries, the
      Service Subsidiaries and the Project Companies (other than the Hartwell
      Partnership) effective upon the Closing, and written resignations of any member
      of the management committee of the Hartwell Partnership designated by Seller
      or
      any Affiliate thereof effective upon the Closing.

     

    (d)  Copies
      of
      any and all governmental and other third party consents, waivers or approvals
      required with respect to the transfer of the CPI Stock, the CEM Membership
      Interests, or the consummation of the transactions contemplated by this
      Agreement;

     

    (e)  The
      opinions of counsel and officer’s certificates contemplated by
      Section 7.1;

     

    (f)  Copies,
      certified by the Secretary or Assistant Secretary of Seller, of corporate
      resolutions authorizing the execution and delivery of this Agreement and all
      of
      the agreements and instruments to be executed and delivered by Seller in
      connection herewith, and the consummation of the transactions contemplated
      hereby;

     

    (g)  A
      certificate of the Secretary or Assistant Secretary of Seller identifying the
      name and title and bearing the signatures of the officers of Seller authorized
      to execute and deliver this Agreement and the other agreements and instruments
      contemplated hereby;

     

    (h)  A
      Certificate of Good Standing with respect to Seller issued by the Secretary
      of
      State of the State of Delaware;

     

    (i)  A
      Certificate of Good Standing with respect to CPI issued by the Secretary of
      State of the State of Delaware;

     

    (j)  A
      Certificate of Good Standing with respect to CEM issued by the Secretary of
      State of the State of Colorado;

     

    (k)  To
      the
      extent available, originals of all CPI Agreements, CEM Agreements, Major Project
      Contracts, Real Property Leases and corporate and limited liability company
      records of CPI and CEM, respectively, and, if not available, true and correct
      copies thereof; 

     

    (l)  Copies
      of
      all Project Permits and Environmental Permits held by the Project Companies;
      and

     

    (m)  Such
      other agreements, documents, instruments and writings as are required to be
      delivered by Seller at or prior to the Closing Date pursuant to this Agreement
      or otherwise reasonably required in connection herewith.

     

    3.5  Deliveries
      by Buyer. 
      At
      the
      Closing, Buyer will deliver, or cause to be delivered, the following to
      Seller:

     

    (a)  The
      Purchase Price by wire transfer of immediately available funds in accordance
      with Seller’s instructions or by such other means as may be agreed to by Seller
      and Buyer;

     

    (b)  The
      opinions of counsel and officer’s certificates contemplated by
      Section 7.2;

     

    (c)  Copies,
      certified by the Secretary or Assistant Secretary of Buyer, of resolutions
      authorizing the execution and delivery of this Agreement, and all of the
      agreements and instruments to be executed and delivered by Buyer in connection
      herewith, and the consummation of the transactions contemplated
      hereby;

     

    (d)  A
      certificate of the Secretary or Assistant Secretary of Buyer, identifying the
      name and title and bearing the signatures of the officers of Buyer authorized
      to
      execute and deliver this Agreement, and the other agreements contemplated
      hereby;

     

    (e)  Copies
      of
      any and all governmental and other third party consents, waivers or approvals
      obtained by Buyer with respect to the transfer of the CPI Stock, the CEM
      Membership Interests or the consummation of the transactions contemplated by
      this Agreement; and

     

    (f)  Such
      other agreements, documents, instruments and writings (including without
      limitation the Assumption Agreement) as are required to be delivered by Buyer
      at
      or prior to the Closing Date pursuant to this Agreement or otherwise reasonably
      required in connection herewith.

     

    3.6  Mutual
      Delivery. 
      At
      the
      Closing, Seller and Buyer shall execute and deliver to Barclays Bank PLC a
      notice of termination of the Buyer LC signed by an authorized officer of each
      of
      Seller and Buyer in the form of Annex B to the Buyer LC.

     

    ARTICLE
      IV  

     

    REPRESENTATIONS,
      WARRANTIES AND DISCLAIMERS OF SELLER

     

    Seller
      represents and warrants to Buyer as follows (each such representation and
      warranty in respect of the Hartwell Partnership being further limited to the
      Knowledge of Seller):

     

    4.1  Organization;
      Qualification. 
      Each
      of
      Seller, CEM, CPI, the Investor Subsidiaries and the Service Subsidiaries is
      a
      corporation or limited liability company duly incorporated or formed, validly
      existing and in good standing under the laws of the jurisdiction under which
      it
      was incorporated or formed as indicated on Schedule
      4.14.
      CEM,
      CPI, and each Investor Subsidiary and Service Subsidiary have all requisite
      corporate or limited liability company power and authority to own, lease, and
      operate their material properties and assets and to carry on their businesses
      as
      is now being conducted. Each of CEM, CPI, the Investor Subsidiaries and Service
      Subsidiaries is duly qualified to do business as a foreign corporation and
      is in
      good standing under the laws of each jurisdiction in which its business, as
      now
      being conducted, shall require it to be so qualified, except where the failure
      to be so qualified has not had, and is not reasonably likely to have,
      individually or in the aggregate, a Material Adverse Effect. Seller has
      heretofore delivered to Buyer true, complete and correct copies of its, CEM’s,
      CPI’s, each Investor Subsidiary’s and each Service Subsidiary’s certificate of
      incorporation and bylaws or certificate of formation and limited liability
      company agreement, as applicable, as currently in effect.

     

    4.2  Authority
      Relative to this Agreement. 
      Seller
      has full limited liability company power and authority to execute and deliver
      this Agreement and to consummate the transactions contemplated by it hereby.
      The
      execution and delivery of this Agreement by Seller and the consummation by
      Seller of the transactions contemplated hereby have been duly and validly
      authorized by all necessary corporate or limited liability company action
      required on the part of Seller and this Agreement has been duly and validly
      executed and delivered by Seller. Subject to the receipt of Seller’s Required
      Regulatory Approvals, this Agreement constitutes the legal, valid and binding
      agreement of Seller, enforceable against Seller in accordance with its terms,
      except that such enforceability may be limited by applicable bankruptcy,
      insolvency, reorganization, fraudulent conveyance, moratorium or other similar
      laws affecting or relating to enforcement of creditors’ rights generally and
      general principles of equity (regardless of whether enforcement is considered
      in
      a proceeding at law or in equity).

     

    4.3  Consents
      and Approvals; No Violation.

     

    (a)  Except
      as
      set forth on Schedule
      4.3(a),
      and
      other than obtaining Seller’s Required Regulatory Approvals, neither the
      execution and delivery of this Agreement by Seller nor the consummation by
      Seller, CEM or CPI of the transactions contemplated hereby will (i) conflict
      with or result in any breach or violation of any provision of the Amended and
      Restated Certificate of Incorporation or Bylaws of CPI or the Certificate of
      Formation or Limited Liability Company Agreement of Seller or CEM, or (ii)
      require any material consent, approval, authorization, waiver of any right
      of
      first refusal, right of first offer or similar preemptive right, or permit
      of,
      or filing with, any Person, or (iii) result in a default (or give rise to any
      right of termination, consent, cancellation or acceleration) under any of the
      terms, conditions or provisions of any material note, bond, mortgage, indenture,
      material agreement or other instrument or obligation to which Seller, CEM,
      CPI,
      any Investor Subsidiary or any Service Subsidiary is a party or by which it
      may
      be bound, or (iv) constitute violations in any material respect of any law,
      regulation, order, judgment or decree applicable to Seller, CEM, CPI or any
      Investor Subsidiary or Service Subsidiary.

     

    (b)  Except
      as
      set forth on Schedule
      4.3(b),
      (the
      filings and approvals referred to in Schedule
      4.3(b)
      are
      collectively referred to as the “Seller’s Required Regulatory Approvals”), no
      consent or approval of, filing with, or notice to, any Governmental Authority
      by
      or for Seller, CEM, CPI, any Investor Subsidiary or any Service Subsidiary
      is
      necessary for the execution and delivery of this Agreement by Seller, or the
      consummation by Seller of the transactions contemplated hereby, other than
      (i)
      such consents, approvals, filings or notices which, if not obtained or made,
      will not prevent Seller, CEM or CPI from performing its material obligations
      hereunder and (ii) such consents, approvals, filings or notices which become
      applicable to Seller, CEM, CPI, any Investor Subsidiary or any Service
      Subsidiary as a result of the specific regulatory status of Buyer (or any of
      its
      Affiliates) or as a result of any other facts that specifically relate to the
      business or activities in which Buyer (or any of its Affiliates) is or proposes
      to be engaged.

     

    4.4  Insurance.  Schedule
      4.4
      lists
      all material policies of fire, liability, workers’ compensation and other forms
      of insurance owned or held by, or on behalf of, Seller, CEM, CPI, any Investor
      Subsidiary or any Service Subsidiary with respect to the business, operations
      or
      employees of CEM, CPI, any Investor Subsidiary or any Service Subsidiary, each
      of which is in full force and effect, all premiums with respect thereto covering
      all periods up to and including the date hereof have been paid (other than
      retroactive premiums which may be payable with respect to comprehensive general
      liability and workers’ compensation insurance policies), and no notice of
      cancellation or termination has been received with respect to any such policy
      which was not replaced on substantially similar terms prior to the date of
      such
      cancellation.

     

    4.5  Title
      and Related Matters. 
      Seller
      has good and valid title to the CPI Stock and the CEM Membership Interests,
      free
      and clear of all Liens. Except as set forth on Schedule
      4.5,
      each
      Person listed on Schedule
      4.14
      as being
      the direct parent of the Investor Subsidiaries and the Service Subsidiaries
      is
      the record and beneficial owner of all of the issued and outstanding shares
      of
      capital stock or membership interests, as applicable, of the such Investor
      Subsidiaries and Service Subsidiaries and has good and valid title to such
      capital stock or membership interests, as applicable, free and clear of all
      Liens. Except as set forth on Schedule
      4.5,
      each
      Person listed on Schedule
      4.14
      as being
      the direct parent of a Project Company is the record and beneficial owner of
      all
      such Project Company Interests free and clear of all Liens.

     

    4.6  Real
      Property Leases.  Schedule
      4.6
      lists,
      as of the date of this Agreement, all real property leases, easements, licenses
      and other rights in real property (collectively, the “Real Property Leases”) to
      which CEM, CPI, any Investor Subsidiary or any Service Subsidiary is a party
      and
      which provide for annual payments of more than $50,000. Except as set forth
      on
Schedule
      4.6,
      all
      such Real Property Leases are valid, binding and enforceable in accordance
      with
      their terms, and are in full force and effect; there are no existing material
      defaults by CEM, CPI or any Investor Subsidiary or Service Subsidiary or, to
      the
      Knowledge of Seller, any other party thereunder; and no event has occurred
      which
      (whether with or without notice, lapse of time or both) would constitute a
      material default by CEM, CPI, any Investor Subsidiary or any Service Subsidiary
      or, to the Knowledge of Seller, any other party thereunder.

     

    4.7  Labor
      Matters. 
      There
      are
      no collective bargaining agreements to which CEM, CPI, any Investor Subsidiary
      or any Service Subsidiary is a party or is subject. With respect to the business
      or operations of CEM, CPI, any Investor Subsidiary or any Service Subsidiary,
      except to the extent set forth on Schedule
      4.7
      and
      except such matters as have not had, and are not reasonably likely to have,
      individually or in the aggregate, a Material Adverse Effect, CEM, CPI, each
      Investor Subsidiary and each Service Subsidiary is in compliance with all
      applicable laws respecting employment and employment practices, terms and
      conditions of employment and wages and hours.

     

    4.8  Benefit
      Plans.  Schedule
      4.8
      lists
      all (i) deferred compensation, profit-sharing, retirement and pension
      plans, including multi-employer plans, and all material bonus, fringe benefit
      and other employee benefit plans or arrangements maintained or with respect
      to
      which contributions are made by CEM or CPI or any of their respective Affiliates
      in respect of the current or former employees of CEM or CPI, any of the Investor
      Subsidiaries, any of the Service Subsidiaries or any of the Project Companies
      connected with the business or operations of CEM and CPI or with respect to
      which any of CEM, CPI, any Investor Subsidiary, any Service Subsidiary or
      Project Company has any actual or contingent liability (“Benefit Plans”) and
      (ii)  each employment, consulting, change in control or severance agreement
      in respect of the employees of CEM, CPI, any Investor Subsidiary, any Service
      Subsidiary or any Project Company and with respect to which CEM, CPI, any
      Investor Subsidiary, any Service Subsidiary or any Project Company may have
      any
      actual or contingent liability (collectively, “Benefit Agreements”). All Benefit
      Plans and Benefit Agreements have been operated in accordance with their terms
      and applicable law in all material respects. True and complete copies of all
      Benefit Agreements have been made available to Buyer.

     

    4.9  Contracts
      and Leases.

     

    (a)  Schedule
      4.9(a)
      lists
      (i) each CEM Agreement and (ii) each CPI Agreement, other than any contract,
      license, agreement or personal property lease which is listed or described
      on
      another Schedule or which is an Excluded Asset or Excluded Agreement. Schedule
      4.9(a) contains a list of all of the following contracts to which CEM, CPI,
      any
      Investor Subsidiary or any Service Subsidiary is a party or by which their
      respective assets are bound:

     

    (A) contracts
      respecting Indebtedness; (B) joint venture agreements, partnership
      agreements, limited liability company agreements and each similar type of
      contract involving a sharing of profits, losses, costs or liabilities with
      any
      other person; (C) contracts not otherwise disclosed herein which materially
      restrict the ability of CEM, CPI or any of their Subsidiaries to engage in
      the
      type of business in which they are currently principally engaged; (D) stock
      option contracts, warrants and convertible securities for the issuance of
      capital stock of CEM, CPI or any of their Subsidiaries; (E) contracts
      restricting the transfer of capital stock of CEM, CPI or any of their
      Subsidiaries, obligating CEM, CPI or any of their Subsidiaries to issue or
      repurchase its capital stock or relating to the voting or the election of
      directors of CEM or CPI; (F) contracts relating to the acquisition or sale
      by CEM, CPI or any of their Subsidiaries of any operating business or the
      capital stock or other ownership interest of any other person under which CEM,
      CPI or any of their Subsidiaries has a continuing liability or obligation;
      (G) contracts under which there is a continuing obligation to pay any
“earnout” payment or deferred or contingent purchase price or any similar
      payment respecting the purchase of any business or assets; (H) contracts
      with Seller, any officer or director of CEM, CPI or any of their Subsidiaries,
      or in the case of any individual any immediate family member of any of the
      foregoing; and (I) contracts which CEM, CPI or any of their Subsidiaries
      guarantees the liabilities or obligations of another person.

     

    (b)  Except
      as
      disclosed in Schedule
      4.9(b),
      each
      CEM Agreement and CPI Agreement listed on Schedule
      4.9(a)
      (i)
      constitutes a legal, valid and binding obligation of CEM, CPI, the Investor
      Subsidiary or the Service Subsidiary party thereto and, to the Knowledge of
      Seller, constitutes a valid and binding obligation of the other parties thereto
      and (ii) is in full force and effect. 

     

    (c)  Except
      as
      set forth on Schedule
      4.9(c),
      there
      are not, under the CEM Agreements or the CPI Agreements, any material defaults
      or events which, with notice or lapse of time or both, would constitute a
      material default on the part of CEM, CPI, any Investor Subsidiary or any Service
      Subsidiary or, to the Knowledge of Seller, any of the other parties
      thereto.

     

    4.10  Legal
      Proceedings, etc. 
      Except
      as
      set forth on Schedule 4.10,
      there
      are no claims, actions, investigations or proceedings pending (or to the
      Knowledge of Seller overtly threatened) against CEM, CPI, any Investor
      Subsidiary or any Service Subsidiary before any court, arbitrator or
      Governmental Authority and to the Knowledge of Seller, there are no facts or
      circumstances that are reasonably expected to give rise to any such claim,
      action, proceeding or investigation which, individually or in the aggregate,
      (a) would reasonably be expected to result, or has resulted, in
      (i) the institution or threat of legal proceedings to prohibit or restrain
      the performance by the Seller of this Agreement or the consummation of the
      transactions contemplated hereby, or (ii) a material impairment of the
      ability of Seller to perform its obligations under this Agreement or
      (iii) a material impairment of Buyer’s ability to own, operate and maintain
      CEM and CPI in the same manner as it is owned, operated and maintained on the
      Closing Date; or (b) would be reasonably likely to result in losses
      exceeding One Million Dollars ($1,000,000). Except as set forth on Schedule 4.10,
      neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary is subject to
      any
      outstanding judgments, rules, orders, writs, injunctions or decrees of any
      court, arbitrator or Governmental Authority which would, individually or in
      the
      aggregate, create a Material Adverse Effect.

     

    4.11  Tax
      Matters. 
      Except
      as
      set forth on Schedule
      4.11:

     

    (a)  CEM,
      CPI,
      each Investor Subsidiary and each Service Subsidiary has duly and timely filed
      (or there has been filed on its behalf) with the appropriate taxing authorities
      all material Tax Returns required to be filed by it (after giving effect to
      any
      valid extension of time in which to make such filings), and all such Tax Returns
      were correct in all material respects at the time of filing;

     

    (b)  CEM,
      CPI,
      each Investor Subsidiary and each Service Subsidiary has, complied in all
      material respects with applicable laws relating to the withholding of Taxes
      on
      payments made to employees, independent contractors, creditors, stockholders,
      members and third parties and the remittance of such withheld amounts to proper
      Governmental Authorities;

     

    (c)  There
      are
      no Liens for Taxes upon the assets or properties of CEM, CPI, any Investor
      Subsidiary or any Service Subsidiary, except for Permitted Liens;

     

    (d)  No
      federal, state or local audits or examinations (“Audits”) have been initiated
      and are currently in progress with regard to any Taxes or Tax Returns of CEM,
      CPI, any Investor Subsidiary or any Service Subsidiary and, to the Knowledge
      of
      Seller, none of such entities has received any notice from any taxing authority
      that any such Audit is currently pending or threatened;

     

    (e)  CEM,
      CPI,
      the Investor Subsidiaries and the Service Subsidiaries are not parties to, are
      not bound by, and have no obligation under, any Tax sharing agreement (other
      than an agreement solely among members of an Affiliated Group the common parent
      of which is MDU Resources Group, Inc.); 

     

    (f)  No
      power
      of attorney has been granted by CEM, CPI, any Investor Subsidiary or any Service
      Subsidiary relating to Taxes of such entities, which power of attorney is
      currently in force;

     

    (g)  CEM,
      CPI,
      each Investor Subsidiary and each Service Subsidiary have fully and timely
      paid
      all material Taxes that are due and payable by such companies to Governmental
      Authorities (whether or not shown on any Tax Return), and have established
      adequate reserves in accordance with GAAP for any material Taxes that are not
      yet due and payable to Governmental Authorities, for all taxable periods, or
      portions thereof, ending on or before the date hereof;

     

    (h)  There
      are
      no outstanding agreements entered into by Seller or any of its Affiliates
      extending or waiving the statutory period of limitations applicable to any
      claim
      for, or the period for the collection or assessment or reassessment of, Taxes
      due from CEM, CPI, any Investor Subsidiary or any Service Subsidiary for any
      taxable period and no request by Seller or any of its Affiliates for any such
      waiver or extension is currently pending;

     

    (i)  None
      of
      CEM, CPI, the Investor Subsidiaries or the Service Subsidiaries has taken any
      reporting position on a Tax Return, which reporting position (i) if not
      sustained would be reasonably likely, absent adequate disclosure in accordance
      with Section 6662(d)(2)(B) of the Code, to subject such entity to a penalty
      for substantial understatement of federal income Tax under Section 6662 of
      the Code, and (ii) has not adequately been disclosed on such Tax Return in
      accordance with Section 6662(d)(2)(B) of the Code;

     

    (j)  None
      of
      CEM, CPI, the Investor Subsidiaries or the Service Subsidiaries has constituted
      a “distributing corporation” or a “controlled corporation” (within the meaning
      of Section 355(a)(1)(A) of the Code) in a distribution of shares described
      in Section 355 of the Code (i) in the two years prior to the date of
      this Agreement or (ii) in a distribution that could otherwise be reasonably
      expected to constitute part of a “plan” or “series of related transactions”
(within the meaning of Section 355(e) of the Code) that includes the
      purchase by Buyer of the CPI Stock and the CEM Membership Interests pursuant
      to
      this Agreement;

     

    (k)  None
      of
      CEM, CPI, the Investor Subsidiaries or the Service Subsidiaries (i) has executed
      or entered into a closing agreement pursuant to Section 7121 of the Code or
      any similar provision of state, local or foreign law that would have continuing
      effect after the Closing Date or (ii) has received any private letter ruling
      of
      the IRS or comparable ruling of any other Governmental Authority, in either
      case
      that would have continuing effect after the Closing Date;

     

    (l)  There
      is
      no contract, agreement, plan, or arrangement to which CEM, CPI, any Investor
      Subsidiary or any Service Subsidiary is a party, covering any employee or former
      employee of any such entity that, individually or collectively, could reasonably
      be expected to give rise to the payment of any amount that would not be
      deductible by Buyer, CEM, CPI, the Investor Subsidiaries or the Service
      Subsidiaries by reason of Section 280G of the Code; 

     

    (m)  The
      Hartwell Partnership has made the election to adjust the basis of its assets
      described in Section 754 of the Code, and such election is currently in effect;
      and

     

    (n)  Schedule
      4.11(n)
      sets
      forth the December 31, 2005 adjusted tax basis for federal income tax purposes
      of CEM, CPI, the Investor Subsidiaries, the Service Subsidiaries and the Project
      Companies.

     

    4.12  Compliance
      With Laws. 
      CEM,
      CPI,
      each Investor Subsidiary and each Service Subsidiary is in compliance with
      all
      applicable laws, rules and regulations with respect to its business or
      operations except where the failure to be in compliance has not had, and is
      not
      reasonably likely to have, individually or in the aggregate, a Material Adverse
      Effect.

     

    4.13  Undisclosed
      Liabilities. 
      Except
      as
      set forth on Schedule
      4.13,
      neither
      CEM nor CPI is subject to any material liability or obligation (whether
      absolute, contingent or otherwise) that has not been accrued or reserved against
      its Financial Statements, except (a) liabilities arising in the ordinary course
      of business under any contract or commitment, (b) those liabilities or
      obligations incurred in the ordinary course of business since December 31,
      2006,
      (c) liabilities that have not had, and are not reasonably likely to have,
      individually or in the aggregate, a Material Adverse Effect and (d) liabilities
      or obligations disclosed on any of the Schedules to this Agreement.

     

    4.14  Subsidiaries. 
      Except
      as
      set forth on Schedule
      4.14,
      none of
      CPI, CEM, any Investor Subsidiary or any Service Subsidiary owns any preferred,
      common or other equity securities of any kind nor any equity or other interests
      in any other business, legal entity or arrangement.

     

    4.15  Capitalization.

     

    (a)  The
      CPI
      Stock, which consists of 1,000 shares of common stock, no par value, constitutes
      all of the issued and outstanding shares of capital stock of CPI and is owned
      beneficially and of record by Seller, free and clear of all Liens. The CPI
      Stock
      has been duly authorized and validly issued, and is fully paid and
      non-assessable. There are no other authorized shares of capital stock of CPI
      other than the 1,000 shares of common stock comprising the CPI Stock. Neither
      Seller nor CPI has any obligation, contingent or otherwise, to issue, sell,
      repurchase, redeem or otherwise acquire any of the CPI Stock or other capital
      stock of CPI or any equity or debt securities of CPI.

     

    (b)  The
      CEM
      Membership Interests constitute 100% of the membership interests of CEM and
      are
      owned beneficially and of record by Seller, free and clear of all Liens. The
      CEM
      Membership Interests have been duly authorized and validly issued, and are
      fully
      paid and non-assessable. There are no other authorized membership interests
      of
      CEM other than the membership interests comprising the CEM Membership Interests.
      Seller has no obligation, contingent or otherwise, to issue, sell, repurchase,
      redeem or otherwise acquire any of the CEM Membership Interests or other
      ownership interests of CEM or any equity or debt securities of CEM.

     

    (c)  None
      of
      the membership interests constituting the CEM Membership Interests nor the
      shares of common stock constituting the CPI Stock have been issued in violation
      of, or is subject to, any preemptive or subscription rights, rights of first
      refusal or offer, options, put or call rights, consent rights, restrictive
      covenants or agreements with any third party other than Buyer. There are no
      outstanding securities convertible into or exchangeable for the capital stock
      of
      CPI or the membership interests of CEM. Except as set forth on Schedule 4.15(c),
      there
      are no outstanding options, warrants or other rights (including conversion
      or
      preemptive rights and rights of first refusal) or agreements for the purchase
      from CEM or CPI of any capital stock or other equity interests.

     

    4.16  Financial
      Statements. 
      Attached
      hereto as Schedule
      4.16
      are the
      unaudited balance sheets and income statements of CEM, CPI, each Project
      Company, each Investor Subsidiary and each Service Subsidiary and the unaudited
      combined statements of cash flows of CEM and CPI as of and for the year ended
      December 31, 2006, and the three-month period ending March 31, 2007
      (collectively, the “Financial Statements”). The Financial Statements have been
      prepared in accordance with GAAP and present fairly the financial condition
      of
      CEM, CPI, each Project Company, each Investor Subsidiary and each Service
      Subsidiary, respectively, as applicable, as of the dates set forth therein
      and
      their respective results of operations for the periods set forth
      therein.

     

    4.17  Absence
      of Certain Changes.  Except
      as
      set forth on Schedule
      4.17,
      since
      December 31, 2006: 

     

    (a)  Neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary has suffered any
      damage, destruction or loss which has not been disclosed to Buyer, whether
      or
      not covered by insurance, which has had a Material Adverse Effect; 

     

    (b)  Without
      limiting any other representation made by Seller herein, to the Knowledge of
      Seller, neither CEM, CPI, any Investor Subsidiary nor any Service Subsidiary
      has
      suffered or experienced any Material Adverse Effect which has not been disclosed
      to Buyer which would constitute a breach of any other representation made by
      Seller herein;

     

    (c)  Neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary has issued or
      agreed to issue any additional common stock, membership interests or general
      or
      limited partnership interests or other equity interests in such
      Person;

     

    (d)  Neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary has encumbered
      any
      of its assets or incurred any Indebtedness, other than unsecured liabilities
      incurred in the ordinary course of business and consistent with past practice
      and Permitted Liens; 

     

    (e)  Neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary has entered into
      any contract or agreement, including, without limitation, new loans or capital
      expenditures, that will bind such Person beyond the Closing and will involve
      aggregate expenditures in excess of $250,000, except the CEM Agreements and
      CPI
      Agreements; 

     

    (f)  Neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary has acquired,
      sold
      or transferred any material asset of any such Person other than in the ordinary
      course of business and consistent with past practice; and

     

    (g)  Neither
      CEM, CPI, any Investor Subsidiary nor any Service Subsidiary has amended or
      changed any of its governing corporate, limited liability company, general
      partnership or limited partnership documents.

     

    4.18  Bankruptcy. 
      There
      are
      no bankruptcy, reorganization, or arrangement proceedings pending against,
      being
      contemplated by, or, to the Knowledge of Seller, threatened against CEM or
      CPI.

     

    4.19  Books
      and Records.  The
      company records of CEM and CPI have been made available to Buyer prior to the
      execution of this Agreement and contain a true and complete records, in all
      material respects, of all material action taken at all meetings and by all
      written consents in lieu of meetings of boards of directors and other similar
      governing bodies of said entities.

     

    4.20  Project
      Companies.

     

    (a)  Organization;
      Good Standing.
      Each of
      the Project Companies is a limited partnership, limited liability company or
      corporation duly organized, validly existing and in good standing under the
      laws
      of the state of its formation or incorporation, is qualified to do business
      and
      is in good standing under the laws of each jurisdiction in which its business
      as
      now being conducted shall require it to be so qualified, except where the
      failure to be so qualified has not had, and is not reasonably likely to have,
      individually or in the aggregate, a Material Adverse Effect.

     

    (b)  Validity
      of Agreement.
      Except
      as set forth on Schedule
      4.20(b),
      the
      execution, delivery and performance of this Agreement, and the consummation
      of
      the transactions contemplated hereby, do not and will not require any material
      consent or waiver by any Person, or give rise to any rights of first refusal
      or
      similar preemptive rights under, conflict with, result in a material breach
      of
      any provision of, constitute a material default under, result in the material
      modification or cancellation of, or give rise to any right of termination or
      acceleration in respect of, any Project Contracts.

     

    (c)  Subsidiaries.
      Except
      as set forth on Schedule
      4.20(c),
      none of
      the Project Companies has any Subsidiaries or otherwise owns or controls,
      directly or indirectly, any equity interest in any corporation, partnership,
      joint venture, limited liability company, association or other business
      entity.

     

    (d)  No
      Options.
      Except
      as set forth on Schedule
      4.20(d),
      there
      are no outstanding options, warrants or other rights (including conversion
      or
      preemptive rights and rights of first refusal) or agreements for the purchase
      from any Project Company of any general or limited partnership interests,
      membership interests, capital stock or other equity interests, other than any
      such rights or agreements, if any, set forth in the Project Company Agreement
      of
      such Project Company.

     

    (e)  Financial
      Statements; Liabilities.
      Except
      as and to the extent (A) shown or provided for in the Financial Statements
      for
      the year ended December 31, 2006 with respect to the Project Companies, (B)
      set forth on Schedule
      4.20(e),
      (C) arising under the Project Contracts, or (D) the existence of which
      would not constitute a breach of any other representation or warranty made
      herein to by the Knowledge of Seller, each of the Project Companies has no
      liabilities or obligations (whether accrued, absolute or contingent) arising
      prior to December 31, 2006 which are or which would reasonably be expected
      to
      become a claim against such Project Company or a Lien, other than a Permitted
      Lien, against any of the assets or properties of such Project Company, in each
      case, that has not had, and is not reasonably likely to have, individually
      or in
      the aggregate, a Material Adverse Effect.

     

    (f)  Absence
      of Certain Changes.
      Except
      as set forth on Schedule
      4.20(f),
      since
      December 31, 2006:

     

    (i)  To
      the
      Knowledge of Seller, none of the Project Companies has suffered any damage,
      destruction or loss which has not been disclosed to Buyer, whether or not
      covered by insurance, which has had a Material Adverse Effect;

     

    (ii)  Without
      limiting any other representation made by Seller herein, to the Knowledge of
      Seller, none of the Project Companies has suffered or experienced any Material
      Adverse Effect which has not been disclosed to Buyer which would constitute
      a
      breach of any other representation made by Seller herein;

     

    (iii)  None
      of
      the Project Companies has issued or agreed to issue any additional common stock,
      membership interests or general or limited partnership interests or other equity
      interests in such Project Company;

     

    (iv)  None
      of
      the Project Companies has encumbered any of its assets or incurred any
      Indebtedness, other than unsecured liabilities incurred in the ordinary course
      of business and Permitted Liens; and

     

    (v)  None
      of
      the Project Companies has entered into any contract or agreement, including,
      without limitation, new loans or capital expenditures, that will bind such
      Project Company beyond the Closing and will involve annual expenditures in
      excess of $250,000, except the Major Project Contracts and the Replacement
      PPA.

     

    (g)  Ownership
      or Lease of Project Facilities and Equipment.
      Each
      Project Company owns, leases or otherwise has the right to use all real
      property, including all fixtures and improvements situated thereon, and owns,
      leases or otherwise has the right to use all equipment and personal property,
      tangible and intangible, in each case which is used in the day to day operations
      of the business of such Project Company and which is necessary to conduct the
      business of such Project Company in the manner in which it is presently
      conducted except where the failure to so own, lease or have the right to use
      would not materially and adversely effect the business or operation of such
      Project Company.

     

    (h)  Taxes.
      Except
      as set forth on Schedule
      4.20(h),
      each of
      the Project Companies has (i) duly and timely filed (or there has been filed
      on
      its behalf) with the appropriate taxing authorities all material Tax Returns
      required to be filed by it, and all such Tax Returns were correct in all
      material respects at the time of filing, and (ii) timely paid or caused to
      have
      been paid on its behalf all Taxes shown as due on filed Tax
      Returns.

     

    (i)  Rights
      of Third Parties.
      Except
      as set forth on Schedule
      4.20(i),
      none of
      the Project Companies has entered into any leases, licenses, easements or other
      agreements, recorded or unrecorded, granting rights to third parties in, or
      with
      respect to, any real or personal property of such Project Company other than
      in
      the ordinary course of business, and no person or entity has any right to
      possession or occupancy of any property of such Project Company, in each case
      except to the extent arising under Permitted Liens, the Major Project Contracts
      or any leases, licenses, easements or other agreements entered into in the
      ordinary course of business.

     

    (j)  Title
      to Properties.

     

    (i)  Except
      as
      set forth on Schedule
      4.20(j)(i),
      each
      Project Company has good and valid title to all of the properties which such
      Project Company owns as reflected in the Financial Statements as of and for
      the
      period ended December 31, 2006 with respect to the Project Companies, and such
      properties are not subject to any Lien, other than Permitted Liens.

     

    (ii)  Except
      as
      set forth on Schedule
      4.20(j)(ii),
      all
      material leases pursuant to which each Project Company leases personal or real
      property are valid and are enforceable against such Project Company and, to
      the
      Knowledge of Seller, enforceable by such Project Company, in each case in
      accordance with their respective terms, except to the extent enforceability
      may
      be limited by applicable bankruptcy, insolvency, reorganization, moratorium
      or
      similar laws now or hereafter in effect, affecting the enforcement of creditors’
rights generally and general equitable principles regardless of whether such
      enforceability is considered in a proceeding at law or in equity.

     

    (k)  Additional
      Information.
      The
      following additional information concerning the Project Companies is set forth
      on Schedule
      4.20(k):

     

    (i)  Major
      Project Contracts.
      A list
      of all of the Major Project Contracts;

     

    (ii)  Insurance.
      A list
      of all of the current insurance policies for each Project Company;

     

    (iii)  Litigation.
      A
      description of all litigation and other administrative, arbitration, grievance
      or other proceedings which, to the Knowledge of Seller, is pending or overtly
      threatened, in each such case in which any Project Company is a party or is
      reasonably likely to become a party, or involving any Project Company, its
      business, its properties, or the Project Company Interests, except actions,
      if
      any, instituted by Buyer or any of its Affiliates;

     

    (iv)  Indebtedness.
      A list
      of all indebtedness for borrowed money of each Project Company in excess of
      $100,000; and

     

    (v)  Project
      Permits.
      A list
      of the Project Permits with respect to each Project Company.

     

    (l)  Insurance.
      The
      insurance policies listed on Schedule
      4.20(k)
      are in
      full force and effect.

     

    (m)  Default.
      Except
      as set forth on Schedule
      4.20(m),
      none of
      the Project Companies nor, to the Knowledge of Seller, any of the other parties
      to the Project Contracts, is in material default under, nor has any event
      occurred which, with notice or the lapse of time or both, would result in a
      material default on the part of any Project Company under, any of the material
      Project Contracts. Except as set forth on Schedule
      4.20(m),
      each of
      the Project Contracts is valid, legally binding and enforceable against the
      Project Company a party thereto and, to the Knowledge of Seller, enforceable
      by
      such Project Company, in each case in accordance with its terms, except to
      the
      extent enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium or similar laws now or hereafter in effect, affecting
      the enforcement of creditors’ rights generally and general equitable principles
      regardless of whether such enforceability is considered in a proceeding at
      law
      or in equity.

     

    (n)  Environmental
      Matters.
      Except
      as set forth on Schedule
      4.20(n):

     

    (i)  To
      the
      Knowledge of Seller, no Releases of Hazardous Substances have occurred at,
      onto,
      from, under or in any of the Project Facilities with respect to which remedial
      action is required by law which has not been completed;

     

    (ii)  To
      the
      Knowledge of Seller, there are no Environmental Conditions at any of the Project
      Facilities for which remedial action is required by law which has not been
      completed;

     

    (iii)  There
      are
      no Environmental Claims against any Project Company or relating to one or more
      of the Project Facilities, which are pending or, to the Knowledge of Seller,
      overtly threatened;

     

    (iv)  To
      the
      Knowledge of Seller, no underground storage tanks are currently located at
      any
      of the Project Facilities;

     

    (v)  All
      material permits, licenses, approvals, consents and orders required under
      Environmental Laws for the operation of the Project Facilities (each an
“Environmental Permit”) as of the date hereof have been obtained, are in effect
      and are being complied with in all material respects; and

     

    (vi)  Seller
      has (A) disclosed, or upon obtaining Knowledge thereof will disclose prior
      to
      Closing, to Buyer all environmental investigation reports of which Seller has
      Knowledge which have been prepared by any third party since January 1, 2004
      relating to environmental conditions at the Project Facilities, and (B)
      provided, or upon obtaining Knowledge thereof will disclose prior to Closing,
      to
      Buyer copies of, and have listed in Schedule
      4.20(n),
      all
      such reports which, to the Knowledge of Seller, are currently in the Project
      Companies’ possession.

     

    (o)  Labor
      Matters.
      There
      are no collective bargaining agreements to which any of the Project Companies
      are subject.

     

    (p)  Legal
      and Regulatory Compliance.
      Except
      (i) as set forth on Schedule 4.20(p),
      each
      Project Company operates its businesses in compliance in all material respects
      with, and the Project Facilities conform to, all applicable federal, state
      and
      local laws and all governmental regulations, and none of the Project Companies
      has received any written notice of noncompliance with any such laws or
      regulations relating to events, conditions or occurrences which if not remedied
      would have a Material Adverse Effect. Except as set forth on Schedule
      4.20(p),
      each
      Project Company holds the Project Permits with respect to such Project Company,
      each Project Permit is in full force and effect, and each Project Company is
      in
      material compliance with the terms and conditions of its respective Project
      Permits. The consummation of the transactions contemplated by this Agreement
      will not give rise to any right of termination, cancellation or consent under
      the terms, conditions or provisions of any Project Permit.

     

    4.21  Disclaimers.  EXCEPT
      FOR THE REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS ARTICLE IV, THE PROJECT
      FACILITIES AND ANY OTHER ASSETS OF CPI, CEM, THE INVESTOR SUBSIDIARIES, THE
      SERVICE SUBSIDIARIES AND THE PROJECT COMPANIES ARE BEING ACQUIRED BY BUYER
“AS
      IS” AND “WHERE IS”, AND EXCEPT FOR SUCH REPRESENTATIONS AND WARRANTIES, SELLER
      EXPRESSLY DISCLAIMS ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE,
      EXPRESS, IMPLIED, AT COMMON LAW, STATUTORY OR OTHERWISE, AS TO LIABILITIES,
      OPERATIONS OF THE PROJECT FACILITIES AND ANY OTHER ASSETS OF CPI, CEM, THE
      INVESTOR SUBSIDIARIES, THE SERVICE SUBSIDIARIES AND THE PROJECT COMPANIES
      (COLLECTIVELY, THE “ACQUIRED ASSETS”), THE TITLE, CONDITION, VALUE OR QUALITY OF
      THE ACQUIRED ASSETS OR THE PROSPECTS (FINANCIAL AND OTHERWISE), RISKS AND OTHER
      INCIDENTS OF THE ACQUIRED ASSETS, AND SELLER SPECIFICALLY DISCLAIMS ANY
      REPRESENTATION OR WARRANTY OF MERCHANTABILITY, USAGE, SUITABILITY OR FITNESS
      FOR
      ANY PARTICULAR PURPOSE WITH RESPECT TO THE ACQUIRED ASSETS, OR ANY PART THEREOF,
      OR AS TO THE WORKMANSHIP THEREOF, OR THE ABSENCE OF ANY DEFECTS THEREIN, WHETHER
      LATENT OR PATENT, OR COMPLIANCE WITH ENVIRONMENTAL REQUIREMENTS, OR THE
      APPLICABILITY OF ANY GOVERNMENTAL REQUIREMENTS, INCLUDING BUT NOT LIMITED TO
      ANY
      ENVIRONMENTAL LAWS, OR WHETHER SELLER POSSESSES SUFFICIENT REAL PROPERTY OR
      PERSONAL PROPERTY TO OPERATE THE PURCHASED ASSETS. EXCEPT FOR THE
      REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS ARTICLE IV, SELLER FURTHER
      SPECIFICALLY DISCLAIMS ANY REPRESENTATION OR WARRANTY REGARDING THE ABSENCE
      OF
      HAZARDOUS SUBSTANCES OR LIABILITY OR POTENTIAL LIABILITY ARISING UNDER
      ENVIRONMENTAL LAWS WITH RESPECT TO THE FOREGOING.

     

    ARTICLE
      V  

     

    REPRESENTATIONS
      AND WARRANTIES OF BUYER

     

    Buyer
      represents and warrants to Seller as follows:

     

    5.1  Organization. Buyer
      is
      a limited liability company,
      duly
      organized, validly existing and in good standing under the laws of the state
      of
      its organization and has all requisite limited liability company power and
      authority to own, lease and operate its properties and to carry on its business
      as is now being conducted. Buyer has heretofore delivered to Seller complete
      and
      correct copies of its operating agreement (or other similar governing documents)
      as currently in effect.

     

    5.2  Authority
      Relative to this Agreement. 
      Buyer
      has
      full organizational power and authority to execute and deliver this Agreement
      and to consummate the transactions contemplated hereby. The execution and
      delivery of this Agreement by Buyer and the consummation by Buyer of the
      transactions contemplated hereby have been duly and validly authorized by all
      necessary limited liability company action required on the part of Buyer. This
      Agreement has been duly and validly executed and delivered by Buyer. Subject
      to
      the receipt of Buyer Required Regulatory Approvals, this Agreement constitutes
      a
      legal, valid and binding agreement of Buyer, enforceable against Buyer in
      accordance with its terms, except that such enforceability may be limited by
      applicable bankruptcy, insolvency, reorganization, fraudulent conveyance,
      moratorium or other similar laws affecting or relating to enforcement of
      creditors’ rights generally and general principles of equity (regardless of
      whether enforcement is considered in a proceeding at law or in
      equity).

     

    5.3  Consents
      and Approvals; No Violation.

     

    (a)  Except
      as
      set forth on Schedule
      5.3(a),
      and
      other than obtaining Buyer Required Regulatory Approvals, neither the execution
      and delivery of this Agreement by Buyer nor the consummation by Buyer of the
      transactions contemplated hereby will (i) conflict with or result in any breach
      or violation of any provision of the operating agreement (or other similar
      governing documents) of Buyer, or (ii) require any consent, approval,
      authorization or permit of, or filing with or notification to, any Governmental
      Authority prior to the Closing, or (iii) result in a default (or give rise
      to
      any right of termination, cancellation or acceleration) under any of the terms,
      conditions or provisions of any note, bond, mortgage, indenture, material
      agreement or other instrument or obligation to which Buyer or any of its
      Subsidiaries is a party or by which any of their respective assets may be bound,
      except for such defaults (or rights of termination, cancellation or
      acceleration) as to which requisite waivers or consents have been obtained
      or
      which do not have, and would not reasonably be expected to have, individually
      or
      in the aggregate, a material adverse effect on the ability of the Buyer to
      consummate the transactions contemplated by this Agreement (“Buyer Material
      Adverse Effect”) or (iv) violate any law, regulation, order, judgment or decree
      applicable to Buyer, which violations, individually or in the aggregate, would
      create a Buyer Material Adverse Effect.

     

    (b)  Except
      as
      set forth on Schedule
      5.3(b)
      (the
      filings and approvals referred to in such Schedule are collectively referred
      to
      as the “Buyer Required Regulatory Approvals”), no consent or approval of, filing
      with, or notice to, any Governmental Authority is necessary for Buyer’s
      execution and delivery of this Agreement, or the consummation by Buyer of the
      transactions contemplated hereby, other than such consents, approvals, filings
      or notices, which, if not obtained or made, will not prevent Buyer from
      performing its obligations under this Agreement.

     

    5.4  Legal
      Proceedings. 
      There
      are
      no actions or proceedings pending against Buyer before any court or arbitrator
      or Governmental Authority, which, individually or in the aggregate, would
      reasonably be expected to create a Buyer Material Adverse Effect. Buyer is
      not
      subject to any outstanding judgments, rules, orders, writs, injunctions or
      decrees of any court, arbitrator or Governmental Authority which would,
      individually or in the aggregate, create a Buyer Material Adverse
      Effect.

     

    5.5  Inspections. 
      Buyer
      acknowledges and agrees that it has, prior to its execution of this Agreement,
      had full opportunity to conduct and has completed to its satisfaction
      Inspections of the Project Facilities. Buyer acknowledges that it is satisfied
      through such review and Inspections that no further investigation and study
      on
      or of the Project Facilities are necessary for the purposes of acquiring the
      CPI
      Stock and the CEM Membership Interests. 

     

    5.6  Securities
      Laws. 
      Buyer
      is
      an experienced and knowledgeable investor in the U.S. power generation and
      development business. Prior to entering into this Agreement, Buyer was advised
      by its counsel, accountants, financial advisors, and such other Persons it
      has
      deemed appropriate concerning this Agreement and has relied solely on Seller’s
      representations and warranties expressly contained herein and an independent
      investigation and evaluation of, and appraisal and judgment with respect to,
      the
      CPI Stock and the CEM Membership Interests and the revenue, price, and expense
      assumptions applicable thereto. Buyer hereby acknowledges that neither the
      CPI
      Stock nor the CEM Membership Interests have been registered under the Securities
      Act of 1933, as amended (the “Securities Act”), or registered or qualified for
      sale under any state securities laws and cannot be resold without registration
      thereunder or exemption therefrom. Buyer is an “accredited investor,” as such
      term is defined in Regulation D of the Securities Act, and will acquire the
      CPI
      Stock and the CEM Membership Interests for its own account and not with a view
      to a sale or distribution thereof in violation of the Securities Act, and the
      rules and regulations thereunder, any applicable state blue sky laws or any
      other applicable securities laws. Buyer has sufficient knowledge and experience
      in financial and business matters to enable it to evaluate the risks of
      investment in the CPI Stock and the CEM Membership Interests and has the ability
      to bear the economic risk of this investment for an indefinite period of
      time.

     

    ARTICLE
      VI  

     

    COVENANTS
      OF THE PARTIES

     

    6.1  Conduct
      of Business.

     

    (a)  From
      the
      date of this Agreement through the Closing Date, except as Buyer may otherwise
      approve (which approval shall not be unreasonably withheld) or as otherwise
      expressly contemplated by this Agreement, CEM and CPI shall, and shall cause
      its
      Subsidiaries to, (a) conduct their businesses in the ordinary course in
      accordance with past practice, (b) use Commercially Reasonable Efforts to
      preserve intact their respective business organizations and goodwill and assets,
      (c) use Commercially Reasonable Efforts to keep available the services
      provided by their respective present officers and key employees, and
      (d) use their Commercially Reasonable Efforts to maintain satisfactory
      relationships with others having business relationships with CEM and CPI and
      their Subsidiaries. Except as described in Schedule 6.1(a)
      or as
      expressly contemplated by this Agreement or to the extent Buyer otherwise
      consents in writing, during the period from the date of this Agreement to the
      Closing Date (which consent shall not be unreasonably withheld), Seller shall
      not cause or permit CPI, CEM, any Investor Subsidiary, and Service Subsidiary
      or
      any Project Company, other than the Hartwell Partnership, to take, and Seller
      shall not cause or permit CPI or any Investor Subsidiary to exercise any rights
      under the Hartwell Partnership’s Project Company Agreement to cause the Hartwell
      Partnership to take, any of the following actions: (i) incur indebtedness
      for borrowed money, (ii) grant any Liens on its assets, other than
      Permitted Liens, (iii) enter into any Material Contract or terminate or
      amend any Material Contract to which any such Person becomes or is a party,
      (iv) dispose of any material assets of any such Person, (v) make any
      distribution in respect of the equity securities of or other ownership interest
      in such Person, except in the ordinary course of business and consistent with
      past practice of such Person, or as required by such Person’s Project Company
      Agreement or other governing documents, or as contemplated by, or required
      to
      effectuate the provisions of, Section 2.2 of this Agreement,
      (vi) revoke any election under Section 754 of the Code,
      (vii) issue any equity or debt securities, (viii) amend its respective
      Project Company Agreement or other governing documents, (ix) waive, compromise,
      or settle any material claim, or (x) voluntarily incur any material
      liability except in the ordinary course of business. For purposes of this
      Section 6.1, a “Material Contract” shall mean any Major Project Contract and any
      contract entered into in the ordinary course of business that (x) requires
      payments by any such Person in excess of $250,000 in the aggregate, or (y)
      does
      not provide, either, that the term thereof is three (3) months or less, or
      that
      it may be terminated without liability on three (3) months or less notice.
      Notwithstanding the foregoing, Seller may, from the date hereof and prior to
      the
      Closing, take or cause to be taken any such action with respect to the Project
      Facilities which Seller in good faith determines is necessary, appropriate
      and
      advisable to respond to emergency or similar conditions or, in accordance with
      prudent utility practice to avoid substantial impairment to the Project
      Facilities. Seller shall give Buyer prompt notice of Seller’s taking any such
      action and, to the extent practicable under the circumstances, advance notice
      thereof. On or prior to the Closing, Seller shall assign or cause to be assigned
      at Seller’s sole cost and expense any Major Project Contracts, CEM Agreements
      and CPI Agreements to which Seller or any Affiliates or Subsidiaries of Seller
      is a party to the appropriate Project Company, CEM or CPI.

     

    (b)  The
      Parties hereby acknowledge and agree that Seller shall be entitled to cause
      and
      permit the Project Companies to enter into a replacement or extension power
      purchase agreement for the Brush 4D Project and the right of first offer
      agreement referred to therein substantially in the form of the drafts thereof
      referenced on Schedule
      6.1(b)
      with
      such changes therein as the Parties shall mutually agree, such agreement not
      to
      be unreasonably withheld or delayed (collectively, the “Replacement
      PPA”).

     

    6.2  Access
      to Information.

     

    (a)  Between
      the date of this Agreement and the Closing Date, Seller will, at reasonable
      times and upon reasonable notice and subject to compliance with all applicable
      laws and, in the case of the Hartwell Partnership, the Hartwell Partnership’s
      Project Company Agreement: (i) give Buyer and its Representatives reasonable
      access to CEM and CPI’s managerial personnel and to all books, records, plans,
      equipment, offices and other facilities and properties of CEM and CPI and the
      Project Facilities; (ii) furnish Buyer with such financial and operating data
      and other information with respect to CEM and CPI as Buyer may from time to
      time
      reasonably request, and permit Buyer to make such reasonable Inspections of
      the
      properties of CEM and CPI and the Project Facilities as Buyer may request;
      (iii)
      furnish Buyer at its request a copy of each material report, schedule or other
      document filed by CEM or CPI or any of their respective Affiliates with respect
      to the business or operations of CEM, CPI and the Project Companies with any
      Governmental Authority; and (iv) furnish Buyer with all such other information
      as shall be reasonably necessary to enable Buyer to verify the accuracy of
      the
      representations and warranties of Seller contained in this Agreement; provided,
      however, that (A) any such Inspections and investigations shall be conducted
      in
      such a manner as not to interfere unreasonably with the business or operations
      of CEM or CPI or any Project Company, (B) Seller shall not be required to take
      any action which would constitute a waiver of the attorney-client privilege,
      and
      (C) Seller need not supply Buyer with any information which Seller is under
      a
      legal or contractual obligation not to supply. Buyer shall not, however, have
      the right to perform or conduct any environmental sampling or testing at, in,
      on
      or underneath any of the Project Facilities. 

     

    (b)  Each
      Party shall, and shall use its best efforts to cause its Representatives to,
      (i)
      keep all Proprietary Information of the other Party confidential and not to
      disclose or reveal any such Proprietary Information to any person other than
      such Party’s Representatives and (ii) not use such Proprietary Information other
      than in connection with the consummation of the transactions contemplated
      hereby. The obligations of the Parties under this Section 6.2(b) shall be in
      full force and effect for two (2) years from the date hereof and will survive
      the termination of this Agreement, the discharge of all other obligations owed
      by the Parties to each other and the closing of the transactions contemplated
      by
      this Agreement.

     

    (c)  For
      a
      period of seven (7) years after the Closing Date (or such longer period as
      may
      be required by applicable law or by any other provision of this Agreement),
      Seller and its Representatives shall have reasonable access to all of the books
      and records of CEM and CPI and/or any of their Subsidiaries, in the possession
      of Buyer to the extent that such access may reasonably be required by Seller
      in
      connection with matters relating to or affected by the business of CEM, CPI
      or
      any of their respective Subsidiaries conducted prior to the Closing Date. Such
      access shall be afforded by Buyer upon receipt of reasonable advance written
      notice and during normal business hours. Seller shall be solely responsible
      for
      any costs or expenses incurred by it or Buyer with respect to such access.
      If
      Buyer shall desire to dispose of any books and records upon or prior to the
      expiration of such seven-year period (or any such longer period), Buyer shall,
      prior to such disposition, give Seller a reasonable opportunity at Seller’s
      reasonable expense, to segregate and remove such books and records as Seller
      may
      select.

     

    (d)  For
      a
      period of seven (7) years after the Closing Date (or such longer period as
      may
      be required by applicable law or by any other provision of this Agreement),
      Buyer and its Representatives shall have reasonable access to all of the books
      and records of Seller and/or any Subsidiaries of Seller, in the possession
      of
      Seller to the extent that such access may reasonably be required by Buyer in
      connection with matters relating to or affected by the business of CEM, CPI
      or
      any of their respective Subsidiaries. Such access shall be afforded by Seller
      upon receipt of reasonable advance written notice and during normal business
      hours. Buyer shall be solely responsible for any costs or expenses incurred
      by
      it or Seller with respect to such access. If Seller shall desire to dispose
      of
      any books and records upon or prior to the expiration of such seven-year period
      (or any such longer period), Seller shall, prior to such disposition, give
      Buyer
      a reasonable opportunity at Buyer’s reasonable expense, to segregate and remove
      such books and records as Buyer may select.

     

    (e)  Notwithstanding
      the terms of Section 6.2(b) above, the Parties agree that prior to the Closing
      Buyer may reveal or disclose Proprietary Information to any other Persons in
      connection with Buyer’s financing of its purchase of the CPI Stock and CEM
      Membership Interests or any equity participation in Buyer’s purchase of the CPI
      Stock and CEM Membership Interests, provided that such Persons are obligated
      to
      maintain the confidentiality of the Proprietary Information in accordance with
      this Agreement.

     

    (f)  Upon
      the
      other Party’s prior written approval (which will not be unreasonably withheld or
      delayed), either Party may provide Proprietary Information of the other Party
      to
      the SEC, FERC or any other Governmental Authority with jurisdiction or any
      stock
      exchange, as may be necessary to obtain Seller’s Required Regulatory Approvals,
      or Buyer Required Regulatory Approvals, respectively, or to comply generally
      with any relevant law or regulation. The disclosing Party will seek confidential
      treatment for the Proprietary Information provided to any Governmental Authority
      and the disclosing Party will notify the other Party as far in advance as is
      practicable of its intention to release to any Governmental Authority any
      Proprietary Information.

     

    (g)  Except
      as
      specifically provided herein or in the Confidentiality Agreement, nothing in
      this Section shall impair or modify any of the rights or obligations of Buyer
      or
      its Affiliates under the Confidentiality Agreement, all of which remain in
      effect until termination of such agreement in accordance with its
      terms.

     

    (h)  Except
      as
      may be permitted in the Confidentiality Agreement, Buyer agrees that, prior
      to
      the Closing Date, it will not contact any vendors, off-takers, suppliers,
      employees, or other contracting parties of CEM, CPI or their respective
      Affiliates with respect to any aspect of the business or operations of CEM,
      CPI
      or any Project Company or the transactions contemplated hereby, without the
      prior written consent of Seller, which consent shall not be unreasonably
      withheld.

     

    (i)  Buyer
      shall not contact any Governmental Authority regarding any pending, threatened
      or potential Environmental Claim or with respect to any Environmental Permit
      relating to the Project Companies without Seller’s prior written
      consent.

     

    (j)  At
      Buyer’s request, prior to the Closing Date, Seller shall permit Buyer to have
      one representative located at each of CPI’s and CEM’s main offices for the
      purpose of observing their business operations. Seller shall cause CPI and
      CEM
      to provide Buyer’s representatives with reasonable use of office space,
      telephone and similar communications and office services and shall provide
      Buyer’s representatives with reasonable access to representatives of CPI and CEM
      in order to assist Buyer in making an orderly transition of CPI and CEM and
      their respective Subsidiaries following the Closing.

     

    6.3  Public
      Statements. 
      Subject
      to the requirements imposed by any applicable law or any Governmental Authority
      or stock exchange, no press release or other public announcement or public
      statement or comment in response to any inquiry relating to the transactions
      contemplated by this Agreement shall be issued or made by any Party without
      the
      prior approval of the other Parties (which approval shall not be unreasonably
      withheld). The Parties agree to cooperate in preparing such
      announcements.

     

    6.4  Expenses. 
      Except
      to
      the extent specifically provided herein, whether or not the transactions
      contemplated hereby are consummated, all costs and expenses incurred in
      connection with this Agreement and the transactions contemplated hereby shall
      be
      borne by the Party incurring such costs and expenses. Notwithstanding anything
      to the contrary herein, Buyer will be responsible for all filing fees under
      the
      HSR Act.

     

    6.5  Further
      Assurances. 
      Subject
      to the terms and conditions of this Agreement, each of the Parties hereto shall
      use its best efforts to take, or cause to be taken, all actions, and to do,
      or
      cause to be done, all things necessary, proper or advisable under applicable
      laws and regulations to consummate and make effective the purchase and sale
      of
      the CPI Stock and the CEM Membership Interests pursuant to this Agreement,
      including without limitation using its best efforts to ensure satisfaction
      of
      the conditions precedent to each Party’s obligations hereunder, including
      obtaining all necessary consents, approvals, and authorizations of third parties
      and Governmental Authorities required to be obtained in order to consummate
      the
      transactions hereunder. Buyer agrees to perform all conditions required of
      Buyer
      in connection with Seller’s Required Regulatory Approvals, other than those
      conditions which would create a Material Adverse Effect on the Buyer or its
      Subsidiaries after giving effect to the transactions contemplated by this
      Agreement. None of the Parties hereto shall, without prior written consent
      of
      the other Party, take or fail to take any action, which might reasonably be
      expected to prevent or materially impede, interfere with or delay the
      transactions contemplated by this Agreement.

     

    6.6  Consents
      and Approvals.

     

    (a)  As
      promptly as practicable after the date of this Agreement, Seller and Buyer,
      as
      applicable, shall each file or cause to be filed with the Federal Trade
      Commission and the United States Department of Justice any notifications
      required to be filed under the HSR Act and the rules and regulations promulgated
      thereunder with respect to the transactions contemplated hereby. The Parties
      shall use their respective Commercially Reasonable Efforts to respond promptly
      to any requests for additional information made by either of such agencies,
      and
      to cause the waiting periods under the HSR Act to terminate or expire at the
      earliest possible date after the date of filing. Buyer will pay all filing
      fees
      under the HSR Act, but each Party will bear its own costs of the preparation
      and
      prosecution of any filing.

     

    (b)  As
      promptly as practicable, and in any case within ten (10) days after the date
      of
      this Agreement, Seller and Buyer, as applicable, shall file or cause to be
      filed
      with the FERC such applications as are necessary to obtain required FERC
      approval for the various transactions contemplated hereby. The Parties shall
      consult with each other regarding such filings and shall consider and
      incorporate in such filings all reasonable comments, if any, submitted by the
      other Party with respect thereto. If appropriate, the Parties will submit a
      joint application to the FERC seeking such required approvals. The Parties
      shall
      respond promptly to any requests for additional information made by the FERC,
      and use their respective best efforts to cause regulatory approval to be
      obtained at the earliest possible date after the date of filing. Each Party
      will
      bear its own costs of the preparation and prosecution of any such
      filing.

     

    (c)  As
      promptly as practicable after the date of this Agreement, Buyer and Seller
      shall
      make all such other filings and applications with Governmental Authorities
      seeking any other approval or authorization as may be required for the
      consummation of the transactions contemplated hereby. The Parties shall respond
      promptly to any requests for additional information made by any such
      Governmental Authority and shall use their respective best efforts to obtain
      any
      such approval at the earliest possible date after the date of the filing. Each
      Party shall bear its own costs of the preparation and prosecution of such
      filings.

     

    6.7  Use
      of
      Centennial Marks.  Effective
      upon the Closing Date, Seller grants Buyer a perpetual, irrevocable,
      royalty-free license to use the name and trademark “CENTENNIAL POWER”. Buyer
      acknowledges and agrees that Seller is the owner of the Intellectual Property
      Rights in the trademark “CENTENNIAL POWER” when used in connection with the
      provision of energy, power and other related services. Buyer further
      acknowledges and agrees that it obtains no Intellectual Property Rights to
      or
      any other right to use the Centennial Marks other than as provided in this
      Section 6.7. Buyer agrees never to challenge Seller’s (or its Affiliates’)
      ownership of the Centennial Marks or any application for registration thereof
      or
      any existing registration thereof or any other rights of Seller or its
      Affiliates therein as a result, directly or indirectly, of Buyer’s ownership of
      the CPI Stock and the CEM Membership Interests. Buyer further agrees never
      to
      apply for, either directly or through its Affiliates and/or successors and
      permitted assigns, any federal or state trademark, service mark or any other
      Intellectual Property Right featuring the term “CENTENNIAL POWER” or any
      variation, deviation, modification or abbreviation thereof. Buyer warrants
      that
      its provision of services or products under the trade name “CENTENNIAL POWER”
shall conform to the quality and standards adhered to by Seller and that Seller
      shall have the right, upon reasonable request, to review and modify, for quality
      assurance purposes, Buyer’s use of the trademark “CENTENNIAL POWER” in Buyer’s
      advertising and marketing. Within sixty (60) days after the Closing Date, Buyer
      shall, except for the trademark “CENTENNIAL POWER”, (i) remove the Centennial
      Marks from the assets of CPI, CEM, the Project Companies, the Investor
      Subsidiaries and the Service Subsidiaries, including signage at the Project
      Facilities, and provide written verification thereof to Seller promptly after
      completing such removal and (ii) return or destroy (with proof of destruction)
      all other assets of CPI, CEM, the Project Companies, the Investor Subsidiaries
      and the Service Subsidiaries that contain any Centennial Marks that are not
      removable. 

     

    6.8  Fees
      and Commissions. 
      Seller,
      on the one hand, and Buyer, on the other hand, represent and warrant to the
      other that, no broker, finder or other Person is entitled to any brokerage
      fees,
      commissions or finder’s fees in connection with the transaction contemplated
      hereby by reason of any action taken by the Party making such representation,
      except that Seller has engaged, and shall bear the liability for the commissions
      and fees of, Goldman, Sachs & Co. in connection with the transactions
      contemplated hereby. Seller, on the one hand, and Buyer, on the other hand,
      will
      pay to the other or otherwise discharge, and will indemnify and hold the other
      harmless from and against, any and all claims or liabilities for all brokerage
      fees, commissions and finder’s fees incurred by reason of any action taken by
      the indemnifying party.

     

    6.9  Tax
      Matters.

     

    (a)  Section
      338(h)(10) Elections.

     

    (i)  Seller
      and Buyer shall jointly make or cause to be made timely and irrevocable
      elections under Section 338(h)(10) of the Code (the “Election”) with
      respect to the sale of each of CPI and CEM and the deemed sale of each of the
      Investor Subsidiaries, the Service Subsidiaries and the Project Companies
      constituting corporations for federal income Tax purposes, except that no such
      elections shall be made with respect to Hartwell Power Company (such entities
      for which elections shall be made, the “338(h)(10) Election Entities”).
In
      addition, Seller and Buyer shall jointly make all elections under state and
      local Tax law comparable to the elections under Section 338(h)(10) or
      Section 338(g) as available, unless such state or locality does not have a
      provision comparable to Section 338(h)(10) or Section 338(g), in which
      case no election shall be made in such state or locality (together with the
      Election, the “Section 338(h)(10) Elections”). Seller
      and Buyer shall and shall cause their respective Subsidiaries and Affiliates
      to
      (i) treat the Section 338(h)(10) Elections as valid, (ii) file all Tax
      Returns in a manner consistent with such Section 338(h)(10) Elections and
      (iii) take no position contrary thereto. Seller
      shall be responsible for and shall timely pay or cause to be timely paid to
      applicable Governmental Authorities all Income Taxes imposed on Seller and
      all
      338(h)(10) Election Entities that are attributable to the making of the Section
      338(h)(10) Elections, provided, however, that for any state or local
      jurisdiction that imposes Income Tax on both the sale (or deemed sale) of the
      stock of a 338(h)(10) Election Entity and the deemed sale of assets of such
      338(h)(10) Election Entity, Seller shall be responsible for only the Income
      Tax
      imposed on the sale (or deemed sale) of the stock of such 338(h)(10) Election
      Entity and Buyer shall be responsible for and shall timely pay or cause to
      be
      timely paid to applicable Governmental Authorities all Income Taxes imposed
      on
      the deemed sale of assets of such 338(h)(10) Election Entity (such Taxes for
      which Buyer is responsible, the “Buyer 338 Liability”).

     

    (ii)  Prior
      to
      the Closing, Buyer shall (A) determine the amount of the adjusted grossed-up
      basis and aggregate deemed sales price with respect to each of the 338(h)(10)
      Election Entities and the allocation of such amounts among the assets of each
      of
      the 338(h)(10) Election Entities on a separate entity basis in accordance with
      Section 338(h)(10) of the Code and applicable Treasury Regulations thereunder
      and (B) deliver a schedule of all such determinations to Seller and provide
      Seller with a reasonable opportunity to review, comment on, and consent to
      such
      schedule prior to the Closing, which consent shall not be unreasonably withheld
      or delayed (the “338 Allocation”). Buyer shall promptly revise the 338
      Allocation to reflect the Adjustment, as finally determined pursuant to Section
      3.3 of the Agreement and Buyer shall promptly forward a draft of the revised
      338
      Allocation to Seller for Seller’s consent, which consent shall not be
      unreasonably withheld or delayed. Seller and Buyer shall take, and shall cause
      their respective Affiliates to take, no action inconsistent with, or fail to
      take any action necessary for the validity of each Section 338(h)(10) Election,
      and shall adopt and utilize, and cause their respective Affiliates to adopt
      and
      utilize, the asset values prescribed in the 338 Allocation (as revised by Seller
      and Buyer) in making such allocations for the purpose of all Tax Returns filed
      by them, and shall not voluntarily take any action inconsistent therewith upon
      examination of any Tax Return, in any refund claim, in any litigation or
      otherwise with respect to such Tax Returns. Buyer and Seller shall notify and
      provide the other with reasonable assistance in the event of an examination,
      audit or other proceeding regarding the agreed upon allocations.

     

    (iii)  The
      Purchase Price allocable to Hartwell Independent Power Partners, Inc. and Hart
      County IPP, Inc. and the share of each such entity of the liabilities of the
      Hartwell Partnership shall be allocated among the assets of the Hartwell
      Partnership as of the Closing Date in accordance with a schedule to be prepared
      in accordance with the rules under Code Sections 743(b), 751, 755 and 1060
      (the
“754 Allocation Schedule”). Buyer shall deliver a draft of the 754 Allocation
      Schedule to Seller and the Hartwell Partnership as soon as practicable after
      the
      date of this Agreement, and Buyer, Seller and the Hartwell Partnership shall
      mutually agree upon the 754 Allocation Schedule at or prior to the Closing.
      Buyer and Seller shall not, and Seller shall use all Commercially Reasonable
      Efforts to cause the Hartwell Partnership to not, unreasonably withhold its
      approval and consent with respect to the 754 Allocation Schedule. Buyer and
      Seller agree that the 754 Allocation Schedule shall be amended to reflect any
      post-Closing adjustments to the allocation that are required by applicable
      federal income Tax law. Unless otherwise required by applicable law, Buyer
      and
      Seller agree to act, and to cause their Affiliates and the Hartwell Partnership
      to act, in accordance with the computations and allocations contained in the
      754
      Allocation Schedule (taking into account any such amendment thereto) in any
      relevant Tax Returns or similar filings (including forms or reports, if any,
      required to be filed pursuant to Code Section 1060), to cooperate in the
      preparation of any such filings, to timely file such filings in the manner
      required by applicable law and to not take any position inconsistent with such
      754 Allocation Schedule in any Tax Return, in any refund claim, in any
      litigation, or otherwise.

     

    (b)  Return
      Filing, Payments, Refunds and Credits.

     

    (i)  Seller
      shall prepare or cause to be prepared and file or cause to be filed all Federal,
      state and local Tax Returns for (x) CEM, CPI, the Investor Subsidiaries, the
      Service Subsidiaries and the Project Companies (other than Hartwell Partnership)
      (the “Target Entities”) for all Pre-Closing Tax Periods of such entities,
      including the consolidated federal income Tax Return of MDU Resources Group,
      Inc. for the Tax period ending on December 31, 2007, and (y) any Affiliated
      Group that includes any of the Target Entities (other than an Affiliated Group
      that has no members other than two or more of the Target Entities) (an “MDU
      Affiliated Group”). Each such Tax Return shall be prepared in a manner
      consistent with past practice. Buyer
      shall not, and shall cause its Affiliates not to, amend, refile, modify or
      revoke such Tax Returns (or any notification or election relating thereto)
      without the prior written consent of Seller, which consent shall not be
      unreasonably withheld or delayed; provided,
      for the avoidance of doubt, that the Seller shall be deemed to have reasonably
      withheld its consent if any such action by Buyer or its Affiliates could
      reasonably be expected to have an adverse impact upon any Taxes or Tax Returns
      (or Tax attribute) of Seller or any of its Affiliates for any Tax period ending
      on or prior to the Closing Date or any Straddle Period. Buyer and Seller shall
      act in good faith to resolve any disputes, but in the event Buyer and Seller
      do
      not resolve any disputed items by agreement, either Buyer or Seller may refer
      such dispute to an Independent Accounting Firm for resolution, and the decision
      of the Independent Accounting Firm shall be final and binding on Buyer and
      Seller and their respective Affiliates. The costs, expenses and fees of the
      Independent Accounting Firm shall be borne equally by Seller, on the one hand,
      and Buyer, on the other hand.
      Buyer
      shall and shall cause its Affiliates to timely provide Seller with all
      information as Seller shall reasonably request in connection with the
      preparation of such Tax Returns. Seller
      and its Affiliates shall be responsible for payment of any Income Taxes, and
      shall be entitled to any refunds or credits of Income Taxes, shown as due on
      such Tax Returns, except that Buyer and its Affiliates shall be responsible
      for
      the timely payment of any Buyer 338 Liability and any Income Taxes resulting
      from any transaction or event that is not in the ordinary course of business
      and
      occurs after the Closing on the Closing Date. Buyer shall timely pay or cause
      to
      be timely paid all Taxes (other than Income Taxes) shown as due on such Tax
      Returns. The income or loss or other items to be reported on the federal income
      Tax Return to be filed for CEM, CPI, the Investor Subsidiaries, the Service
      Subsidiaries and the Project Companies (other than the Hartwell Partnership)
      for
      the period that began on January 1, 2007 and ends on the Closing Date shall
      be
      based upon a closing of the books as of the close of business on the Closing
      Date, consistent with Treasury Regulation Section 1.1502-76(b). Buyer and Seller
      shall use Commercially Reasonable Efforts to cause the Investor Subsidiaries’
distributive shares of the income or loss of the Hartwell Partnership for the
      fiscal year that includes the Closing Date to be reported in the Tax Return
      described in the preceding sentence and determined based upon a hypothetical
      closing of the books of Hartwell Partnership as of the Closing Date, consistent
      with Treasury Regulation Section 1.1502-76(b)(2)(vi)(A). Notwithstanding
      anything in this Agreement to the contrary, Buyer and Seller agree that all
      transactions and events in respect of any of the Target Entities and the
      Hartwell Partnership that are not in the ordinary course of business and occur
      after the Closing on the Closing Date shall be reported on the Tax Return(s)
      of
      Buyer and its Affiliates to the extent required or permitted by Treasury
      Regulation section 1.338-1(d) or 1.1502-76(b)(1)(ii)(B) or other applicable
      federal or state Tax law.

     

    (ii)  Buyer
      shall, except to the extent that such Tax Returns are the responsibility of
      Seller under Section 6.9(b)(i), timely prepare and file or cause to be timely
      prepared and filed all Tax Returns of CEM, CPI, the Investor Subsidiaries,
      the
      Service Subsidiaries and the Project Companies (other than Hartwell
      Partnership). For any Straddle Period Tax Return that is the responsibility
      of
      Buyer under this Section 6.9(b)(ii), Buyer shall, and shall cause its
      Affiliates to, prepare such Tax Return in a manner consistent with past
      practices and with all Tax Returns prepared or caused to be prepared by Seller
      pursuant to Section 6.9(b)(i) with respect to the entity in question, and Buyer
      shall deliver to Seller for its review, comment and approval (which approval
      shall not be unreasonably withheld) a copy of each such proposed Tax Return
      (accompanied, in the case of each Income Tax Tax Return, by an allocation of
      the
      Income Taxes shown to be due on such Tax Return between the portion of such
      Straddle Period ending on the Closing Date and the portion of such Straddle
      Period beginning after the Closing Date) at least thirty Business Days prior
      to
      (a) the due date for filing such Tax Return (giving effect to any validly
      obtained extensions), or (b) if there is no due date for filing, the actual
      filing date thereof. Buyer shall and shall cause its Affiliates to not
      unreasonably fail to reflect any comments received from Seller.
      Buyer
      shall timely pay or cause to be timely paid all Taxes shown as due on such
      Tax
      Returns. Seller shall reimburse Buyer for Income Taxes shown to be due on such
      Tax Returns as filed, to the extent allocable to the portion of such Straddle
      Period ending on the Closing Date, and Buyer shall promptly pay to Seller the
      amount of Income Taxes allocable to the portion of such Straddle Period
      beginning after the Closing Date to the extent such Income Taxes were paid
      on or
      prior to the Closing Date. Buyer shall promptly pay to Seller the amount of
      any
      refunds or credits of Income Taxes allocable to the portion of such Straddle
      Period ending on the Closing Date. For
      purposes of this Agreement, in the case of any Straddle Period, Income Taxes
      allocable to the portion of such Straddle Period ending on the Closing Date
      shall be computed as if the Tax period ended on the Closing Date, except
      that any Buyer 338 Liability and any Income Taxes resulting from any transaction
      or event that is not in the ordinary course of business and occurs after the
      Closing on the Closing Date shall be allocable to the portion of such Straddle
      Period beginning after the Closing Date.
      Buyer
      shall not, and shall cause its Affiliates to not, amend, refile, modify or
      revoke any Straddle Period Tax Return (or any notification or election relating
      thereto) without the prior written consent of Seller, which consent shall not
      be
      unreasonably withheld; provided,
      for the avoidance of doubt, that the Seller shall be deemed to have reasonably
      withheld its consent if any such action by Buyer or its Affiliates could
      reasonably be expected to have an adverse impact upon any Taxes or Tax Returns
      (or Tax attribute) of Seller or any of its Affiliates for any Tax period ending
      on or prior to the Closing Date or any Straddle Period. Buyer and Seller shall
      act in good faith to resolve any disputes, but in the event Buyer and Seller
      do
      not resolve any disputed items by agreement, either Buyer or Seller may refer
      such dispute to an Independent Accounting Firm for resolution, and the decision
      of the Independent Accounting Firm shall be final and binding on Buyer and
      Seller and their respective Affiliates. The costs, expenses and fees of the
      Independent Accounting Firm shall be borne equally by Seller, on the one hand,
      and Buyer, on the other hand.

     

    (iii)  Seller
      and its Affiliates shall be entitled to any refunds or credits of or against
      any
      Excluded Taxes and any other Taxes for which Seller or its Affiliates are
      responsible pursuant to this Agreement. Buyer shall, at Seller's reasonable
      request, file or cause the relevant entity to file for and use Commercially
      Reasonable Efforts to obtain any refund or credit to which Seller and its
      Affiliates are entitled.

     

    (iv)  Buyer
      shall, and shall cause its Affiliates to, promptly forward to Seller and its
      Affiliates or reimburse Seller and its Affiliates for any refunds or credits
      of
      Taxes due Seller and its Affiliates (pursuant to the terms of this Section
      6.9)
      after receipt thereof.

     

    (v)  Buyer
      shall, and shall cause its Affiliates to, elect, where permitted by applicable
      law, to carry forward any item of loss, deduction or credit which arises in
      any
      Tax period beginning after the Closing Date.

     

    (c)  Cooperation
      on Tax Matters.

     

    (i)  Buyer
      and
      Seller shall (and each shall cause CEM, CPI, the Investor Subsidiaries, the
      Service Subsidiaries and the Project Companies to) cooperate fully, as and
      to
      the extent reasonably requested by the other Party, in connection with the
      preparation and filing of Tax Returns pursuant to this Section and in connection
      with any audit, litigation or other proceeding with respect to Taxes for any
      Tax
      period ending on or prior to the Closing Date. Such cooperation shall include
      the retention and (upon the other Party’s request) the provision of records and
      information which are reasonably relevant to any such audit, litigation or
      other
      proceeding and making employees (to the extent such employees were responsible
      for the preparation, maintenance or interpretation of information and documents
      relevant to Tax matters or to the extent required as witnesses in any Tax
      proceedings), available on a mutually convenient basis to provide additional
      information and explanation of any material provided hereunder. The Parties
      agree (A) to retain, and (in the case of Buyer) to cause CEM, CPI, the Investor
      Subsidiaries, the Service Subsidiaries and the Project Companies to retain,
      all
      books and records with respect to Income Tax matters pertinent to CEM, CPI,
      the
      Investor Subsidiaries, the Service Subsidiaries and the Project Companies
      relating to any Tax period beginning before the Closing Date until six months
      after the expiration of the statute of limitations (and, to the extent notified
      by Buyer or Seller, any extensions thereof) of the respective Tax periods,
      and
      to abide by all record retention obligations imposed by law or pursuant to
      agreements entered into with any taxing authority, and (B) to give the
      other Party reasonable written notice prior to transferring, destroying or
      discarding any such books and records and, if the other Party so requests,
      Buyer
      or Seller, as the case may be, shall allow the other Party to take possession
      of
      such books and records.

     

    (ii)  Buyer
      and
      Seller further agree, upon request, to use their best efforts to obtain any
      certificate or other document from any Governmental Authority or any other
      Person as may be necessary to mitigate, reduce or eliminate any Tax that could
      be imposed with respect to the transactions contemplated hereby.

     

    (iii)  At
      Seller's request, Buyer shall cause CEM, CPI, the Investor Subsidiaries, the
      Service Subsidiaries and the Project Companies to make and/or join with Seller
      and any of Seller’s Affiliates in making after Closing any election for which
      such entity’s consent is required for any Tax period (or portion thereof) ending
      on or prior to the Closing Date, if the making of such election does not have
      a
      material adverse impact on Buyer (or any of its Affiliates) for any Tax period
      beginning after the Closing Date.

     

    (d)  Contests.

     

    (i)  Seller
      and Buyer shall notify the other Party in writing within fourteen (14) days
      or
      such shorter period as may be required thereby of receipt by it or any of its
      Affiliates of written notice of any pending or threatened Tax examination,
      audit
      or other administrative or judicial proceeding (a “Tax Contest”) that could
      reasonably be expected to result in an indemnification obligation of such other
      Party pursuant to this Agreement and
      such
      timely notice shall specify in reasonable detail the basis for any claim
      included therein and shall include a copy of the relevant portion of any
      correspondence received from the taxing authority.
      If the
      recipient of such notice of a Tax Contest fails to provide such timely notice
      to
      such other Party, it shall not be entitled to indemnification for any Taxes
      arising in connection with such Tax Contest, but only to the extent, if any,
      that such failure or delay shall have adversely affected the indemnifying
      Party’s ability to defend against, settle, or satisfy any action, suit or
      proceeding against it, or any damage, loss, claim, or demand for which the
      indemnified Party is entitled to indemnification hereunder,
      and the
      indemnifying Party’s indemnity obligations shall be reduced to the extent of any
      Tax or other liability incurred as a result of the delay or failure to receive
      such timely notice.

     

    (ii)  If
      a Tax
      Contest relates to any Taxes for which Seller is liable in full hereunder,
      Seller shall at its expense control the defense and settlement of such Tax
      Contest. If such Tax Contest relates to any Taxes for which Buyer is liable
      in
      full hereunder, Buyer shall at its own expense control the defense and
      settlement of such Tax Contest. The Party not in control of the defense shall
      have the right to observe the conduct of any Tax Contest at its expense,
      including through its own counsel and other professional experts. Buyer and
      Seller shall jointly represent CEM, CPI, any Investor Subsidiary, any Service
      Subsidiary or any Project Company in any Tax Contest relating to Taxes for
      which
      both are liable hereunder, and fees and expenses related to such representation
      shall be paid equally by Buyer and Seller.

     

    (iii)  Notwithstanding
      anything to the contrary in Section 6.9(d)(ii), to the extent that an issue
      raised in any Tax Contest controlled by one Party or jointly controlled could
      materially affect the liability for Taxes of the other Party, the controlling
      Party shall not, and neither Party in the case of joint control shall, enter
      into a final settlement without the consent of the other Party, which consent
      shall not be unreasonably withheld. Where a Party reasonably withholds its
      consent to any final settlement, that Party may continue or initiate further
      proceedings, at its own expense, and the liability of the Party that wished
      to
      settle (as between the consenting and the non-consenting Party) shall not exceed
      the liability that would have resulted from the proposed final settlement
      including interest, additions to Tax, and penalties that have accrued at that
      time, and the non-consenting Party shall indemnify the consenting Party for
      any
      liability in excess of liability that would have resulted from the proposed
      final settlement.

     

    (iv)  Notwithstanding
      any other provision of this Agreement to the contrary, if a Tax Contest results
      in an increase in Income Taxes for which Seller is liable hereunder and such
      increase is attributable to adjustments based on timing differences which will
      reverse in Tax periods ending subsequent to the Closing Date, Buyer shall
      promptly pay to Seller, upon Seller's written request, an amount equal to the
      present value of the reduction in Income Taxes payable by the Buyer and its
      Affiliates in future Tax periods by reason of such reversal, determined by
      using
      a discount rate of 6% and an assumed Tax rate of 40%, and by assuming that
      such
      reduction in Income Taxes will occur in the year or years of
      reversal.

     

    (e)  Tax
      Sharing Agreements.
      Any Tax
      sharing agreement or similar arrangement between Seller or any Affiliate of
      Seller (other than CEM, CPI, the Investor Subsidiaries, the Service Subsidiaries
      and the Project Companies) on the one hand, and any of CEM, CPI, the Investor
      Subsidiaries, the Service Subsidiaries or the Project Companies on the other
      hand shall be terminated with respect to CEM, CPI, the Investor Subsidiaries,
      the Service Subsidiaries and the Project Companies, as applicable, as of the
      Closing Date.

     

    (f)  Certain
      Taxes.
      Notwithstanding anything in this Agreement to the contrary, all transfer,
      documentary, sales, use, stamp, registration and other such Taxes and fees
      (including any penalties and interest) incurred in connection with this
      Agreement, whether imposed upon Seller, Buyer, CEM, CPI, any Investor
      Subsidiary, any Service Subsidiary or any Project Company (“Transfer Taxes”),
      shall be borne 50 percent by Seller and 50 percent by Buyer. Seller and Buyer
      shall, and shall cause their respective Affiliates, to prepare and timely file
      all necessary Tax Returns and other documentation with respect to all such
      Transfer Taxes, and, if required by applicable law, Buyer shall, and shall
      cause
      CEM, CPI, the Investor Subsidiaries, Service Subsidiaries and Project Companies
      to, join in the execution of all such Tax Returns and other documentation.
      All
      costs and expenses incurred in connection with the filing of all such Tax
      Returns and documentation hereunder shall be borne by Buyer.

     

    (g)  Disputes.
      In the
      event that a dispute arises between Seller and Buyer as to the amount of Taxes,
      or indemnification, whether or not attributable to CEM or CPI, the Parties
      shall
      attempt in good faith to resolve such dispute, and any agreed upon amount shall
      be paid to the appropriate Party. If such dispute is not resolved thirty (30)
      days thereafter, the Parties shall submit the dispute to an Independent
      Accounting Firm mutually appointed by Seller and Buyer for resolution, which
      resolution shall be final, conclusive and binding on the Parties.
      Notwithstanding anything in this Agreement to the contrary, the fees and
      expenses of the Independent Accounting Firm in resolving the dispute shall
      be
      borne equally by Seller and Buyer. Any payment required to be made as a result
      of the resolution of the dispute by the Independent Accounting Firm shall be
      made within ten (10) days after such resolution, together with any interest
      determined by the Independent Accounting Firm to be appropriate.

     

    (h)  Alternative
      Structure.
      The
      Parties agree to discuss in good faith alternative structures to complete the
      transactions contemplated by this Agreement, but Buyer acknowledges that
      (x) no such alternatives shall delay the Closing Date or increase the risks
      or costs of the transactions to Seller or decrease the net after-tax proceeds
      received by Seller from the transactions and (y) that Seller shall have no
      obligation to agree to any such alternative structure.

     

    6.10  Advice
      of Changes. 
      Prior
      to
      the Closing, each Party will promptly advise the other in writing with respect
      to any matter arising after execution of this Agreement of which that Party
      obtains knowledge and which, if existing or occurring at the date of this
      Agreement, would have been required to be set forth in this Agreement, including
      any of the Schedules hereto, or of any breach of any representation or warranty
      or of any other condition or circumstance that would excuse a Party of timely
      performance of its obligations hereunder. Subject to Buyer’s consent, Seller may
      cause CEM, CPI, the Investor Subsidiaries, the Service Subsidiaries or the
      Project Companies to amend, substitute or otherwise modify any CEM Agreement,
      CPI Agreement or Project Contract to the extent that any such agreement expires
      by its terms prior to the Closing Date. Nothing contained herein shall relieve
      Seller or Buyer of any breach of representation, warranty or covenant under
      this
      Agreement existing as of the date hereof or any subsequent date as of which
      such
      representation, warranty or covenant shall have been made; provided,
      however,
      that
      Seller shall have no liability to Buyer for any breach of any representation,
      warranty or covenant hereunder which results from Buyer withholding its consent
      under the immediately preceding sentence. Notwithstanding the foregoing, Seller
      shall be entitled to cause BIV Generation and Brush Power, LLC to enter into
      the
      Replacement PPA subject to Section 6.1(b) hereof. 

     

    6.11  Consents.  Seller
      shall use Commercially Reasonable Efforts to obtain all consents and approvals
      for the consummation of the transactions contemplated hereby required under
      any
      CEM Agreement, CPI Agreement or Major Project Contract, and all required waivers
      of any rights of first refusal, rights of first offer, or similar preemptive
      rights with respect to any of the Project Company Interests necessary in order
      to consummate the transactions contemplated by this Agreement. 

     

    6.12  Buyer
      Financial Assurance.
      Simultaneous with the execution and delivery of this Agreement, Buyer is
      providing to Seller (a) an irrevocable standby letter of credit from Barclays
      Bank PLC in the stated amount of $50 million (the “Buyer LC”) which shall
      permit, subject to the terms and conditions of this Agreement, Seller to draw
      up
      to $50 million in payment of the Termination Fee, and (b) an equity commitment
      letter (the “Equity Commitment Letter”) from Natural Gas Partners VIII L.P.
      dated the date hereof, addressed to Buyer confirming the commitment and
      availability of not less than $120 million, which funds will be provided to
      Buyer on or before the Closing Date in order to fund a portion of the payment
      of
      the Purchase Price.

     

    6.13  Financing
      Cooperation.  At
      Buyer’s request, Seller shall, and shall use its reasonable efforts to cause
      CEM, CPI and their respective Subsidiaries to, provide reasonable cooperation
      with Buyer and Buyer’s lenders in connection with Buyer obtaining debt financing
      for the consummation of the transactions contemplated hereby, including making
      representatives of such parties available at reasonable times in connection
      with
      the syndication of such debt financing and related activities.

     

    6.14  Employee
      and Benefit Plans.

     

    (a)  Except
      as
      specifically provided in this Section 6.14, Seller shall, and shall cause,
      CEM,
      CPI, the Investor Subsidiaries, the Service Subsidiaries and the Project
      Companies to take all necessary actions, including compliance with all
      applicable Laws, such that (i) immediately prior to the Closing, none of
      these entities shall sponsor, maintain, participate in, contribute to or have
      an
      obligation to contribute to any Benefit Plan or Benefit Agreement on or after
      the Closing, and (ii) Seller shall retain all Liabilities with respect to the
      Benefit Plans and Benefit Agreements, including but not limited to liability
      for
      all employer contributions required to be made to a Benefit Plan which is a
      cash
      or deferred arrangement qualified under Section 401(a) and 401(k) of the Code.
      As of the Closing Date, Buyer shall waive all pre-existing condition limitations
      under Buyer’s health care plan for employees continuing in employment with Buyer
      on and after the Closing Date (“Continuing Employees”) and covered by the health
      care plan in which CEM, CPI, the Investor Subsidiaries, Service Subsidiaries
      and
      any of the Project Companies participated immediately prior to the Closing
      Date
      (the “Seller Health Plan”), and shall provide such health care coverage
      substantially similar in the aggregate to the Seller Health Plan effective
      as of
      the Closing Date without the application of any eligibility period for coverage.
      In addition, with respect to Continuing Employees, Buyer shall cause its health
      care plan to credit all employee payments toward deductible and co-payment
      obligations limits under the Seller Health Plan for the plan year that includes
      the Closing Date as if such payments had been made for similar purposes under
      Buyer’s health care plan during the plan year that includes the Closing
      Date.

     

    (b)  Notwithstanding
      the provisions of Section 6.14(a), Seller shall spin-off and transfer all of
      the
      obligations and liabilities of any Benefit Plan that is a Section 125 flexible
      spending plan (the “Seller 125 Plan”) attributable to employees of CPI and CEM
      and their dependents and beneficiaries to a Section 125 flexible spending plan
      to be established by CEM (the “New 125 Plan”) immediately prior to the Closing
      Date, and the New 125 Plan shall credit each such employee's flexible spending
      account with the balance so transferred. Each employee eligible to participate
      in the New 125 Plan shall be permitted to continue his or her election in effect
      under the New 125 Plan for the remainder of the calendar year in which the
      Closing shall occur, subject to the limitation on contributions contained in
      the
      Seller 125 Plan, and CEM shall honor any such election, and the New 125 Plan
      shall honor (and shall be solely liable for) any claims incurred by an employee
      in the calendar year, which would otherwise be an eligible expense under the
      Seller 125 Plan, whether or not such expense was incurred before, on or after
      the Closing Date. Seller shall provide Buyer with all information reasonably
      requested by Buyer in order for CEM and the New 125 Plan to satisfy the
      obligations set forth in this Section 6.14(b). As soon as administratively
      practicable following the Closing Date, Seller shall pay to Buyer the balance
      of
      CPI and CEM employees’ accounts under the Seller 125 Plan; provided, however,
      that if the balance of CPI and CEM employees’ accounts under the Seller 125 Plan
      is less than zero, Buyer shall pay to Seller the amount by which such balance
      is
      less than zero.

     

    (c)  Notwithstanding
      the provisions of Section 6.14(a), as soon as practicable following the Closing
      Date, Seller shall fully vest the account balances of each CPI and CEM employee
      who is a participant in the Benefit Plan that is a 401(k) plan (the “Seller
      401(k) Plan”) and shall offer each such participant the opportunity to rollover
      such participant’s account balance to a defined contribution 401(k) plan
      established or maintained by Buyer or CEM that is a qualified tax or deferred
      arrangement under Code Sections 401(a) and 401(k). Such rollover shall be in
      the
      form of a direct rollover in accordance with Section 401(a)(31) of the Code
      and
      other applicable provisions of ERISA and the Code and shall include the
      opportunity for participants to rollover all participant loan accounts and
      liabilities under the Seller 401(k) Plan.

     

    6.15  Audited
      Financial Statements.  Seller
      shall deliver to Buyer the audited balance sheet, income statement and statement
      of cash flows of CEM and CPI as of and for the year ended December 31, 2006,
      (which audited financial statements shall not vary in any material respect
      from
      the Financial Statements), as promptly as possible, but in no event later than
      one (1) Business Day after such audited financial statements are available.
      Seller agrees that Buyer may, upon written request, postpone the Closing Date
      by
      one day for each day beyond May 1, 2007 that Buyer has not received such audited
      financial statements.

     

    6.16  Hartwell
      Partnership Distributions.  Promptly
      (but in any event not later than three (3) Business Days) after Buyer’s receipt
      thereof, Buyer shall remit to Seller by wire transfer in immediately available
      funds, Seller’s share of Hartwell Partnership distributions or payments with
      respect to or to the extent allocable to all periods prior to the Closing Date.
      The Parties agree that Seller’s allocable share of such distributions or
      payments shall be based on the number of days of Seller’s indirect ownership of
      the Hartwell Partnership during the period to which such distribution or payment
      relates divided by the total number of days during such period.

     

    ARTICLE
      VII

      

    CONDITIONS

     

    7.1  Conditions
      to Obligations of Buyer. 
      The
      obligation of Buyer to effect the purchase of the CPI Stock and the CEM
      Membership Interests and the other transactions contemplated by this Agreement
      shall be subject to the fulfillment at or prior to the Closing Date (or the
      waiver in writing by Buyer) of the following conditions:

     

    (a)  The
      waiting period under the HSR Act applicable to the consummation of the sale
      of
      the CPI Stock and the CEM Membership Interests contemplated hereby shall have
      expired or been terminated;

     

    (b)  No
      preliminary or permanent injunction or other order or decree by any federal
      or
      state court or Governmental Authority which prevents the consummation of the
      sale of the CPI Stock and the CEM Membership Interests contemplated herein
      shall
      have been issued and remain in effect (each Party agreeing to use its best
      efforts to have any such injunction, order or decree lifted) and no statute,
      rule or regulation shall have been enacted by any state or federal government
      or
      Governmental Authority which prohibits the consummation of the sale of the
      CPI
      Stock and the CEM Membership Interests;

     

    (c)  Buyer
      shall have received all of Buyer’s Required Regulatory Approvals, and such
      approvals shall be in form and substance reasonably satisfactory (including
      no
      materially adverse conditions) to Buyer;

     

    (d)  Seller
      shall have performed and complied in all material respects with the covenants
      and agreements contained in this Agreement which are required to be performed
      and complied with by Seller on or prior to the Closing Date;

     

    (e)  Each
      of
      the Seller Fundamental Representations shall have been true and correct as
      of
      the date of this Agreement and shall be true and correct as of the Closing
      Date
      as if made at and as of such date (except those representations and warranties
      that address matters only as of a specified date, the truth and correctness
      of
      which shall be determined as of that specified date); and Seller’s other
      representations and warranties made in Article IV (without regard to any
      materiality or Material Adverse Effect qualification therein) shall have been
      true and correct as of the date of this Agreement and shall be true and correct
      on the Closing Date as if made at and as of the Closing Date (except those
      representations and warranties that address matters only as of a specified
      date,
      the truth and correctness of which shall be determined as of that specified
      date), except for such failures to be true and correct which could not
      reasonably be expected to constitute, individually or in the aggregate, a
      Material Adverse Effect;

     

    (f)  Buyer
      shall have received certificates from an authorized officer of Seller, dated
      the
      Closing Date, to the effect that, to such officer’s knowledge, the conditions
      set forth in Section 7.1(d) and (e) have been satisfied by Seller;

     

    (g)  Buyer
      shall have received an opinion from Seller’s counsel reasonably acceptable to
      Buyer, dated the Closing Date and reasonably satisfactory in form and substance
      to Buyer and its counsel, substantially to the effect that:

     

    (i)  Seller
      is
      a limited liability company validly existing and in good standing under the
      laws
      of the State of Delaware and has the limited liability company power and
      authority to execute and deliver the Agreement and to consummate the
      transactions contemplated thereby; and the execution and delivery of the
      Agreement by Seller and the consummation of the sale of the CPI Stock and the
      CEM Membership Interests and the other transactions contemplated thereby have
      been duly and validly authorized by all necessary limited liability company
      action required on the part of Seller;

     

    (ii)  The
      Agreement has been duly and validly executed and delivered by Seller and
      constitutes a legal, valid and binding agreement of Seller enforceable in
      accordance with its terms, except that such enforceability may be limited by
      applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
      moratorium or other similar laws affecting or relating to enforcement of
      creditors’ rights generally and general principles of equity (regardless of
      whether enforcement is considered in a proceeding at law or in
      equity);

     

    (iii)  The
      execution, delivery and performance of the Agreement by Seller does not (A)
      conflict with the Certificate of Formation or Limited Liability Company
      Agreement of Seller or (B) to the knowledge of such counsel, constitute a
      violation of or default under those agreements or instruments set forth on
      a
      schedule attached to the opinion and which have been identified to such counsel
      as all the agreements and instruments which are material to the business or
      financial condition of Seller;

     

    (iv)  No
      consent or approval of, filing with, or notice to, any Governmental Authority
      is
      necessary for the execution and delivery of this Agreement by Seller, or the
      consummation by Seller of the transactions contemplated hereby, other than
      (i)
      such consents, approvals, filings or notices set forth on Schedule
      4.3(b)
      each of
      which have been obtained or made or which, if not obtained or made, will not
      prevent Seller from performing its material obligations hereunder and (ii)
      such
      consents, approvals, filings or notices which become applicable to Seller as
      a
      result of the specific regulatory status of Buyer (or any of its Affiliates)
      or
      as a result of any other facts that specifically relate to the business or
      activities in which Buyer (or any of its Affiliates) is or proposes to be
      engaged; and

     

    (v)  The
      CPI
      Stock and the CEM Membership Interests are owned of record, and to such
      counsel’s knowledge, beneficially by Seller free and clear of all Liens. Each of
      the CPI Stock and the CEM Membership Interests has been duly authorized and
      validly issued, and is fully paid and non-assessable. There are no authorized
      shares of capital stock of CPI other than the 1,000 shares of common stock
      comprising the CPI Stock and there are no other authorized membership interests
      of CEM other than the membership interests comprising the CEM Membership
      Interests. Upon the consummation of the transactions contemplated in the
      Agreement, Buyer will have good and valid title to the CPI Stock and the CEM
      Membership Interests, to such counsel’s knowledge, free and clear of all
      Liens.

     

    In
      rendering the foregoing opinion, Seller’s counsel may rely on opinions of
      in-house counsel and counsel as to local laws reasonably acceptable to
      Buyer.

     

    (h)  Seller
      shall have delivered, or caused to be delivered, to Buyer at the Closing,
      Seller’s closing deliveries described in Section 3.4;

     

    (i)  Since
      the
      date of this Agreement, no Material Adverse Effect shall have occurred and
      be
      continuing; 

     

    (j)  Seller’s
      Required Regulatory Approvals shall contain no conditions or terms which could
      reasonably be expected to have a Material Adverse Effect;

     

    (k)  All
      consents and approvals for the consummation of the transactions contemplated
      hereby required under any CEM Agreement, CPI Agreement or Major Project
      Contract, and all waivers of any rights of first refusal, rights of first offer,
      or similar preemptive rights with respect to any of the Project Company
      Interests arising in connection with the transactions contemplated by this
      Agreement, shall have been obtained; and

     

    (l)  Each
      of
      CPI, CEM and RMP, as applicable, shall have been discharged and released from
      all liabilities and obligations arising under the Excluded
      Agreements.

     

    7.2  Conditions
      to Obligations of Seller. 
      The
      obligation of Seller to effect the sale of the CPI Stock and CEM Membership
      Interests and the other transactions contemplated by this Agreement shall be
      subject to the fulfillment at or prior to the Closing Date (or the waiver by
      Seller) of the following conditions:

     

    (a)  The
      waiting period under the HSR Act applicable to the consummation of the sale
      of
      the CPI Stock and the CEM Membership Interests contemplated hereby shall have
      expired or been terminated;

     

    (b)  No
      preliminary or permanent injunction or other order or decree by any federal
      or
      state court which prevents the consummation of the sale of the CPI Stock and
      the
      CEM Membership Interests contemplated herein shall have been issued and remain
      in effect (each Party agreeing to use its best efforts to have any such
      injunction, order or decree lifted) and no statute, rule or regulation shall
      have been enacted by any state or federal government or Governmental Authority
      in the United States which prohibits the consummation of the sale of the CPI
      Stock and the CEM Membership Interests;

     

    (c)  Seller
      shall have received all of Seller’s Required Regulatory Approvals applicable to
      it, in form and substance reasonably satisfactory (including no materially
      adverse conditions) to Seller;

     

    (d)  All
      consents and approvals for the consummation of the sale of the CPI Stock and
      the
      CEM Membership Interests contemplated hereby required under the terms of any
      note, bond, mortgage, indenture, material agreement or other instrument or
      obligation to which Seller is a party or by which Seller, CEM or CPI may be
      bound, shall have been obtained, other than those which if not obtained, would
      not, individually and in the aggregate, create a Material Adverse
      Effect;

     

    (e)  Buyer
      shall have performed and complied in all material respects with the covenants
      and agreements contained in this Agreement which are required to be performed
      and complied with by Buyer on or prior to the Closing Date;

     

    (f)  Each
      of
      the Buyer Fundamental Representations shall have been true and correct as of
      the
      date of this Agreement and shall be true and correct as of the Closing Date
      as
      if made at and as of such date (except those representations and warranties
      that
      address matters only as of a specified date, the truth and correctness of which
      shall be determined as of that specified date); and Buyer’s other
      representations and warranties made in Article V (without regard to any
      materiality or Material Adverse Effect qualification therein) shall have been
      true and correct as of the date of this Agreement and shall be true and correct
      on the Closing Date as if made at and as of the Closing Date (except those
      representations and warranties that address matters only as of a specified
      date,
      the truth and correctness of which shall be determined as of that specified
      date), except for such failures to be true and correct which could not
      reasonably be expected to constitute, individually or in the aggregate, a
      Material Adverse Effect;

     

    (g)  Seller
      shall have received a certificate from an authorized officer of Buyer, dated
      the
      Closing Date, to the effect that, to such officer’s knowledge, the conditions
      set forth in Sections 7.2(e) and (f) have been satisfied by Buyer;

     

    (h)  Seller
      shall have received an opinion from Buyer’s counsel reasonably acceptable to
      Seller, dated the Closing Date and satisfactory in form and substance to Seller
      and its counsel, substantially to the effect that:

     

    (i)  Buyer
      is
      a Delaware limited liability company duly organized, validly existing and in
      good standing under the laws of the state of its organization and has the full
      limited liability company power and authority to own, lease and operate its
      material assets and properties and to carry on its business as is now conducted,
      and to execute and deliver the Agreement and to consummate the transactions
      contemplated thereby; and the execution and delivery of the Agreement by Buyer
      and the consummation of the transactions contemplated thereby have been duly
      authorized by all necessary corporate action required on the part of
      Buyer;

     

    (ii)  The
      Agreement has been duly and validly executed and delivered by Buyer, and
      constitutes a legal, valid and binding agreement of Buyer, enforceable against
      Buyer, in accordance with its terms, except that such enforceability may be
      limited by applicable bankruptcy, insolvency, reorganization, moratorium,
      fraudulent conveyance or other similar laws affecting or relating to enforcement
      of creditor’s rights generally and general principles of equity (regardless of
      whether enforcement is considered in a proceeding at law or in equity);

     

    (iii)  The
      execution, delivery and performance of the Agreement by Buyer does not (A)
      conflict with the operating agreement (or other organizational documents),
      as
      currently in effect, of Buyer or (B) to the knowledge of such counsel,
      constitute a violation of or default under those agreements or instruments
      set
      forth on a Schedule attached to the opinion and which have been identified
      to
      such counsel as all the agreements and instruments which are material to the
      business or financial condition of Buyer; and

     

    (iv)  No
      consent or approval of, filing with, or notice to, any Governmental Authority
      is
      necessary for Buyer’s execution and delivery of the Agreement, or the
      consummation by Buyer of the transactions contemplated hereby, other than (a)
      Buyer’s Required Regulatory Approvals each of which has been obtained or made
      and (b) such consents, approvals, filings or notices, which, if not obtained
      or
      made, will not prevent Buyer from performing its obligations under the
      Agreement.

     

    (i)  Buyer
      shall have delivered, or caused to be delivered, to Seller at the Closing,
      Buyer’s closing deliveries described in Section 3.5.

     

    ARTICLE
      VIII  

     

    INDEMNIFICATION

     

    8.1  Indemnification.

     

    (a)  Buyer
      shall indemnify, defend and hold harmless Seller, its officers, directors,
      employees, shareholders, Affiliates, their respective successors, permitted
      assigns and agents (each, a “Seller’s Indemnitee”) from and against any and all
      claims, demands, suits, losses, liabilities, damages, obligations, payments,
      costs and expenses (including, without limitation, the costs and expenses of
      any
      and all actions, suits, proceedings, assessments, judgments, settlements and
      compromises relating thereto, costs of investigation and enforcement under
      this
      Article VIII and reasonable attorneys’ fees and reasonable disbursements in
      connection therewith) (each, an “Indemnifiable Loss”), asserted against or
      suffered by any Seller’s Indemnitee relating to, resulting from or arising out
      of (i) any breach by Buyer of any representation, warranty, covenant or
      agreement of Buyer contained in this Agreement
      or in
      any certificate delivered by or on behalf of Buyer pursuant to
      this
      Agreement, (ii) any loss or damages directly resulting from or arising out
      of
      any negligent act or omission or willful misconduct of Buyer or Buyer’s
      Representatives in connection with Buyer’s Inspections, (iii) any Third Party
      Claims against any Seller’s Indemnitee arising out of or in connection with
      Buyer’s ownership or operation of CEM or CPI on or after the Closing Date, (iv)
      any Third Party Claim asserted against any Seller’s Indemnitee by any member or
      partner of any Project Company resulting from or arising out of any deemed
      sale
      or exchange of an interest in such Project Company resulting from any of the
      Section 338(h)(10) Elections made or caused to be made by Seller and Buyer
      pursuant to Section 6.9(a) and (v) the Guarantee Liabilities.

     

    (b)  Seller
      shall indemnify, defend and hold harmless Buyer, its officers, directors,
      employees, shareholders, Affiliates, their respective successors, permitted
      assigns and agents (each, a “Buyer Indemnitee”) from and against any and all
      Indemnifiable Losses asserted against or suffered by any Buyer Indemnitee
      relating to, resulting from or arising out of (i) any breach by Seller of any
      representation, warranty, covenant or agreement of Seller contained in this
      Agreement or in any certificate delivered by or on behalf of Seller pursuant
      to
      this Agreement, (ii) the Excluded Liabilities and (iii) any Third Party Claims
      against a Buyer Indemnitee arising out of or in connection with (x) Seller’s
      ownership or operation of CEM or CPI prior to the Closing Date, (y) CEM, CPI
      or
      Seller’s ownership or operation of the Excluded Assets prior to, on or after the
      Closing Date and (z) the Excluded Liabilities.

     

    (c)  Notwithstanding
      anything to the contrary contained herein:

     

    (i)  Any
      Person entitled to receive indemnification under this Agreement (an
“Indemnitee”) shall use Commercially Reasonable Efforts to mitigate all losses,
      damages and the like relating to a claim under these indemnification provisions,
      including availing itself of any defenses, limitations, rights of contribution,
      claims against third Persons and other rights at law or equity. The Indemnitee’s
      Commercially Reasonable Efforts shall include the reasonable expenditure of
      money to mitigate or otherwise reduce or eliminate any loss or expenses for
      which indemnification would otherwise be due, and the Indemnitor shall reimburse
      the Indemnitee for the Indemnitee’s reasonable expenditures in undertaking the
      mitigation; and

     

    (ii)  Any
      Indemnifiable Loss shall be net of (A) the dollar amount of any insurance or
      other proceeds, net of any reasonable expenses, actually received by the
      Indemnitee or any of its Affiliates with respect to the Indemnifiable Loss,
      and
      (B) Tax benefits to the Indemnitee or any of its Affiliates, to the extent
      realized or reasonably expected to be realized by the Indemnitee or any of
      its
      Affiliates. Any Party seeking indemnity hereunder shall use Commercially
      Reasonable Efforts to seek coverage (including both costs of defense and
      indemnity) under applicable insurance policies with respect to any such
      Indemnifiable Loss and the reasonable costs of such Commercially Reasonable
      Efforts shall be an indemnifiable claim under this Agreement.

     

    (d)  The
      expiration or termination of any representation, warranty or covenant or
      agreement shall not affect the Parties’ obligations under this Section 8.1 if
      the Indemnitee provided the Person required to provide indemnification under
      this Agreement (the “Indemnifying Party”) with proper notice of the claim or
      event for which indemnification is sought prior to such expiration, termination
      or extinguishment.

     

    (e)  Except
      to
      the extent otherwise provided in Article IX, the rights and remedies of Seller
      and Buyer under this Article VIII are exclusive and in lieu of any and all
      other
      rights and remedies which Seller and Buyer may have under this Agreement or
      otherwise for monetary relief, with respect to (i) any breach of or failure
      to
      perform any covenant, agreement, or representation or warranty set forth in
      this
      Agreement, after the occurrence of the Closing, or (ii) liabilities of CEM
      or
      CPI being assumed by Buyer or the Excluded Liabilities, as the case may be;
      provided, however, that the provisions of this Section 8.1(e) shall not
      prevent or limit (i) a claim of, or a cause of action arising from, fraud
      or (ii) a cause of action to obtain equitable remedies. The indemnification
      obligations of the Parties set forth in this Article VIII apply only to
      matters arising out of this Agreement. 

     

    (f)  Notwithstanding
      anything to the contrary herein, no Party (including an Indemnitee) shall be
      entitled to recover from any other Party (including an Indemnifying Party)
      for
      any liabilities, damages, obligations, payments losses, costs, or expenses
      under
      this Agreement any amount in excess of the actual compensatory damages, court
      costs and reasonable attorney’s and other advisor fees suffered by such Party.
      Buyer and Seller waive any right to recover punitive, incidental, special,
      exemplary and consequential damages arising in connection with or with respect
      to this Agreement. The provisions of this Section 8.1(f) shall not apply to
      (i)
      a claim of or cause of action arising from fraud or (ii) indemnification for
      a
      Third Party Claim or (iii) with respect to the Guarantee
      Liabilities.

     

    (g)  Notwithstanding
      anything to the contrary herein, (i) except as provided in (ii) -
      (iv) below, neither Party shall be liable to the other Party for
      Indemnifiable Losses relating to, resulting from or arising out of a breach
      of
      representation or warranty (other than the Seller Fundamental Representations
      and the Buyer Fundamental Representations), unless and until the amount of
      such
      Indemnifiable Losses exceeds Two Hundred Fifty Thousand Dollars ($250,000),
      in
      the aggregate, in which event the respective Party shall then only be liable
      for
      the amount of such excess, but only up to the aggregate amount of 5% of the
      Purchase Price, provided that such Party’s liability and obligation must be
      asserted by the other Party within the applicable survival period specified
      in
      Section 8.3, (ii) Seller’s liability and obligation to Buyer for an
      Indemnifiable Loss relating to, resulting from or arising out of a breach of
      representation or warranty with respect to (A) Sections 4.11 (Tax Matters)
      and
      4.20(h) (Taxes) and (B) Section 4.8 (Benefit Plans) shall not be limited in
      amount but must be asserted by Buyer on or before the termination of the related
      survival period set forth in Section 8.3; (iii) Buyer’s liability and
      obligation for Indemnifiable Losses arising out of the Guarantee Liabilities
      shall not be limited in either amount or the time when Seller may assert a
      claim
      with respect thereto; and (iv) and Seller’s liability and obligation for
      Indemnifiable Losses arising out of the Excluded Liabilities shall not be
      limited in either amount or the time when Buyer may assert a claim with respect
      thereto.

     

    (h)  “Excluded
      Liabilities” means

     

    (i)  Any
      liabilities or obligations in respect of (A) Income Taxes of CEM, CPI, or any
      of
      the Investor Subsidiaries, Service Subsidiaries or Project Companies for Tax
      periods (or portions thereof) beginning before and ending on or before the
      Closing Date, determined
      in a manner consistent with the provisions of Section 6.9(b) (other than
      Buyer 338 Liability and Income Taxes resulting from any transaction or event
      that occurs after the Closing on the Closing Date and is not in the ordinary
      course of business), (B)  Income Taxes payable by CEM, CPI, any Investor
      Subsidiary, any
      Service Subsidiary
      or any Project Company solely by reason of being severally liable for the Income
      Tax of Seller or any MDU Affiliated Group pursuant to Treasury Regulation
      Section 1.1502-6 or any analogous state or local Tax law, (C) any Income
      Taxes arising out of the deemed sale of assets resulting from the
      Section 338(h)(10) Elections (other
      than Buyer 338 Liability), (D) Transfer Taxes for which Seller is responsible
      pursuant to Section 6.9(f), and (E) Taxes (other than Income Taxes and Transfer
      Taxes) of CEM, CPI, or any of the Investor Subsidiaries, Service Subsidiaries,
      or Project Companies for Tax periods (or portions thereof) beginning before
      and
      ending on or before the Closing Date, which in the case of any Straddle Period,
      shall be deemed to be the amount of
      such
      Tax for the entire Straddle Period multiplied by a fraction, the numerator
      of
      which is the number of days during the portion of the Straddle Period ending
      on
      the Closing Date and the denominator of which is the total number of days in
      the
      Straddle Period, (F) any
      losses incurred by Buyer based upon CEM, CPI or any of their Subsidiaries being
      affiliated under Code Section 414 or ERISA Section 4001(a)(14) on or prior
      to the Closing Date with Seller and/or any Affiliates or Subsidiaries of
      Seller;
      provided, however, that in the case of clauses (D) and (E), such liability
      or
      obligation only to the extent that it exceeds the accrual for such Taxes
      reflected as a liability in Working Capital, as finally determined pursuant
      to
      Section 3.3 (collectively, “Excluded Taxes”) and (G) any liability or obligation
      with respect to Indebtedness of CEM, CPI or any of their Subsidiaries, on the
      one hand, to their Affiliates, on the other hand (other than Affiliates which
      are either Investor Subsidiaries, Project Companies or Service
      Subsidiaries);

     

    (ii)  Any
      fines, penalties or costs imposed by a Governmental Authority resulting from
      (A)
      an investigation, proceeding, request for information or inspection before
      or by
      a Governmental Authority either pending prior to or arising after the Closing
      Date but only regarding acts which occurred prior to the Closing Date, or (B)
      illegal acts, willful misconduct or gross negligence of CEM or CPI prior to
      the
      Closing Date; and

     

    (iii)  Liabilities
      and obligations arising at anytime under the Excluded Agreements.

     

    (i)  For
      purposes of determining the amount of Indemnifiable Losses arising from a breach
      of any representation, warranty, covenant or obligation of the Parties to this
      Agreement, but not for purposes of determining whether any such representation,
      warranty, covenant or obligation has been breached or is inaccurate, limitations
      or qualifications as to dollar amount, materiality or Material Adverse Effect
      (or similar concept) set forth in such representation, warranty, covenant or
      obligation shall be disregarded. 

     

    8.2  Defense
      of Claims.

     

    (a)  If
      any
      Indemnitee receives notice of the assertion of any claim or of the commencement
      of any claim, action, or proceeding made or brought by any Person who is not
      a
      party to this Agreement or any Affiliate of a Party to this Agreement (a “Third
      Party Claim”) with respect to which indemnification is to be sought from an
      Indemnifying Party, the Indemnitee shall give such Indemnifying Party reasonably
      prompt written notice thereof, but in any event such notice shall not be given
      later than ten (10) calendar days after the Indemnitee’s receipt of written
      notice of such Third Party Claim. Such notice shall describe the nature of
      the
      Third Party Claim in reasonable detail and shall indicate the estimated amount,
      if practicable, of the Indemnifiable Loss that has been or may be sustained
      by
      the Indemnitee. The Indemnifying Party will have the right to participate in
      or,
      by giving written notice to the Indemnitee, to elect to assume the defense
      of
      any Third Party Claim at such Indemnifying Party’s expense and by such
      Indemnifying Party’s own counsel, provided that the counsel for the Indemnifying
      Party who shall conduct the defense of such Third Party Claim shall be
      reasonably satisfactory to the Indemnitee. The Indemnitee shall cooperate in
      good faith in such defense at such Indemnitee’s own expense. If an Indemnifying
      Party elects not to assume the defense of any Third Party Claim, the Indemnitee
      may compromise or settle such Third Party Claim over the objection of the
      Indemnifying Party, which settlement or compromise shall conclusively establish
      the Indemnifying Party’s liability pursuant to this Agreement.

     

    (b)  If,
      within ten (10) calendar days after an Indemnitee provides written notice to
      the
      Indemnifying Party of any Third Party Claims, the Indemnitee receives written
      notice from the Indemnifying Party that such Indemnifying Party has elected
      to
      assume the defense of such Third Party Claim as provided in Section 8.2(a),
      the
      Indemnifying Party will not be liable for any legal expenses subsequently
      incurred by the Indemnitee in connection with the defense thereof for so long
      as
      the Indemnifying Party shall continue the diligent defense of such Third Party
      Claim. Without the prior written consent of the Indemnitee, the Indemnifying
      Party shall not enter into any settlement of any Third Party Claim which would
      lead to liability or create any financial or other obligation or restriction
      on
      the part of the Indemnitee. If a firm offer is made to settle a Third Party
      Claim would not lead to liability or the creation of a financial or other
      obligation or restriction on the part of the Indemnitee and the Indemnifying
      Party desires to accept and agree to such offer, the Indemnifying Party shall
      give written notice to the Indemnitee to that effect. If the Indemnitee fails
      to
      consent to such firm offer within ten (10) calendar days after its receipt
      of
      such notice, the Indemnifying Party shall be relieved of its obligations to
      defend such Third Party Claim and the Indemnitee may contest or defend such
      Third Party Claim. In such event, the maximum liability of the Indemnifying
      Party as to such Third Party Claim will be the amount of such settlement offer
      plus reasonable costs and expenses paid or incurred by Indemnitee up to the
      date
      of said notice.

     

    (c)  Any
      claim
      by an Indemnitee on account of an Indemnifiable Loss which does not result
      from
      a Third Party Claim (a “Direct Claim”) shall be asserted by giving the
      Indemnifying Party reasonably prompt written notice thereof, stating the nature
      of such claim in reasonable detail and indicating the estimated amount, if
      practicable, but in any event such notice shall not be given later than ten
      (10)
      calendar days after the Indemnitee becomes aware of such Direct Claim, and
      the
      Indemnifying Party shall have a period of thirty (30) calendar days within
      which
      to respond to such Direct Claim. If the Indemnifying Party does not respond
      within such thirty (30) calendar day period, the Indemnifying Party shall be
      deemed to have accepted such claim. If the Indemnifying Party fails to accept
      such claim, the Indemnitee will be free to seek enforcement of its right to
      indemnification under this Agreement.

     

    (d)  If
      the
      amount of any Indemnifiable Loss, at any time subsequent to the making of an
      indemnity payment in respect thereof, is reduced by recovery, settlement or
      otherwise under or pursuant to any insurance coverage, or pursuant to any claim,
      recovery, settlement or payment by, from or against any other entity, the amount
      of such reduction, less any costs, expenses or premiums incurred in connection
      therewith (together with interest thereon from the date of payment thereof
      at
      the publicly announced prime rate then in effect as published in the Wall Street
      Journal shall promptly be repaid by the Indemnitee to the Indemnifying
      Party.

     

    (e)  A
      failure
      to give timely notice as provided in this Section 8.2 shall not affect the
      rights or obligations of any Party hereunder except if, and only to the extent
      that, as a result of such failure, the Party which was entitled to receive
      such
      notice was actually prejudiced as a result of such failure.

     

    (f)  Notwithstanding
      the foregoing, the Parties agree and acknowledge that (i) Seller shall be
      entitled exclusively to control, defend and settle any litigation,
      administrative or regulatory proceeding arising out of or related to any
      Excluded Liabilities, and Buyer agrees to cooperate fully at Seller’s expense in
      connection therewith and (ii) Buyer shall be entitled exclusively to control,
      defend and settle any litigation, administrative or regulatory proceeding,
      arising out of or related to any Guarantee Liabilities, and Seller agrees to
      cooperate fully at Buyer’s expense in connection therewith.

     

    8.3  Survival. 
      The
      representations and warranties given or made by any Party to this Agreement
      or
      in any certificate or other writing furnished in connection herewith shall
      survive the Closing for a period of 575 days after the Closing Date and shall
      thereafter terminate and be of no further force or effect, except that (i)
      the
      Seller Fundamental Representations and the Buyer Fundamental Representations
      shall survive indefinitely, (ii) all representations and warranties relating
      to
      Sections 4.11 and 4.20(h) shall survive the Closing for a period of thirty
      (30)
      days following the applicable statutes of limitation taking into account any
      extensions or waivers thereof, and (iii) the representations and warranties
      in
      Section 4.20(n) shall survive the Closing for a period of 36 months after the
      Closing Date.

     

    The
      covenants and obligations of Seller and Buyer set forth in this Agreement,
      including without limitation the indemnification obligations of the Parties
      under Article VIII hereof, shall survive the Closing indefinitely, and each
      Party shall be entitled to the full performance thereof by the other Party
      hereto without limitation as to time or amount (except as otherwise specifically
      set forth herein).

     

    ARTICLE
      IX  

     

    TERMINATION

     

    9.1  Termination.

     

    (a)  This
      Agreement may be terminated at any time prior to the Closing Date by mutual
      written consent of Seller and Buyer.

     

    (b)  This
      Agreement may be terminated by Seller or Buyer if (i) any Federal or state
      court
      of competent jurisdiction shall have issued an order, judgment or decree
      permanently restraining, enjoining or otherwise prohibiting the Closing, and
      such order, judgment or decree shall have become final and nonappealable or
      (ii)
      any statute, rule, order or regulation shall have been enacted or issued by
      any
      Governmental Authority which, directly or indirectly, prohibits the consummation
      of the Closing; or (iii) the Closing contemplated hereby shall have not occurred
      on or before the day which is 120 days from the date of this Agreement (the
      “Termination Date”), provided, however, that so long as such Party has complied
      with Section 6.5 of this Agreement, the Termination Date (x) may be extended
      by
      Buyer for up to thirty (30) days if any of Buyer Required Regulatory Approvals
      shall not have been obtained and (y) may be extended by Seller for up to thirty
      (30) days if any of Seller Required Regulatory Approvals shall not have been
      obtained; and provided, further, that the right to terminate this Agreement
      under this Section 9.1(b)(iii) shall not be available to any Party whose failure
      to fulfill any obligation under this Agreement has been the cause of, or
      resulted in, the failure of the Closing to occur on or before such
      date.

     

    (c)  So
      long
      as such Party has complied with Section 6.5 of this Agreement, this Agreement
      may be terminated by Buyer if any of Buyer Required Regulatory Approvals, the
      receipt of which is a condition to the obligation of Buyer to consummate the
      Closing as set forth in Section 7.1(c), shall have been denied (and a petition
      for rehearing or refiling of an application initially denied without prejudice
      shall also have been denied) or shall have been granted but contains terms
      or
      conditions which do not satisfy the closing condition in Section 7.1(c).

     

    (d)  So
      long
      as such Party has complied with Section 6.5 of this Agreement, this Agreement
      may be terminated by Seller, if any of Seller’s Required Regulatory Approvals,
      the receipt of which is a condition to the obligation of Seller to consummate
      the Closing as set forth in Section 7.2(c), shall have been denied (and a
      petition for rehearing or refiling of an application initially denied without
      prejudice shall also have been denied) or shall have been granted but contains
      terms or conditions which do not satisfy the closing condition in Section
      7.2(c).

     

    (e)  This
      Agreement may be terminated by Buyer if there has been a material violation
      or
      breach by Seller of any covenant, representation or warranty contained in this
      Agreement which has resulted in a Material Adverse Effect and such violation
      or
      breach is not cured by the earlier of the Closing Date or the date thirty (30)
      days after receipt by Seller of notice specifying particularly such violation
      or
      breach, and such violation or breach has not been waived by Buyer.

     

    (f)  This
      Agreement may be terminated by Seller, if there has been a material violation
      or
      breach by Buyer of any covenant, representation or warranty contained in this
      Agreement and such violation or breach is not cured by the earlier of the
      Closing Date or the date thirty (30) days after receipt by Buyer of notice
      specifying particularly such violation or breach, and such violation or breach
      has not been waived by Seller.

     

    (g)  This
      Agreement may be terminated by Seller if either the Equity Commitment Letter
      or
      the Buyer LC shall no longer remain in full force and effect.

     

    9.2  Procedure
      and Effect of No-Default Termination. 
      In
      the
      event of termination of this Agreement by either or both of the Parties pursuant
      to Section 9.1, written notice thereof shall forthwith be given by the
      terminating Party to the other Party, whereupon, if this Agreement is terminated
      pursuant to any of Sections 9.1(a) through (d), the liabilities of the Parties
      hereunder will terminate, except as otherwise expressly provided in this
      Agreement, and thereafter neither Party shall have any recourse against the
      other by reason of this Agreement.

     

    9.3  Termination
      Fee; Letter of Credit. 
      Seller
      may immediately draw upon the Buyer LC in an amount equal to $50 million (the
      “Termination Fee”) if this Agreement is terminated by Seller pursuant to
      Sections 9.1(b)(iii), 9.1(f) or 9.1(g); provided, that Seller shall not be
      in
      breach of this Agreement in such a manner that would entitle Buyer to terminate
      this Agreement in accordance with Section 9.1(e), and provided further, that
      in
      the case of termination pursuant to Section 9.1(b)(iii), the failure of the
      Closing Date to occur was due to the breach by Buyer of its obligations to
      complete the transactions contemplated hereby when required to do so in
      accordance with this Agreement. The Parties acknowledge and agree that if Seller
      shall terminate this Agreement as provided immediately above, Seller’s damages
      would be difficult or impossible to quantify with reasonable certainty, and
      accordingly the payment provided for in this Section 9.3 is a payment of
      liquidated damages (and not penalties) which is a based on the Parties’ estimate
      of the damages Seller will suffer or incur as a result of the event giving
      rise
      to such payment and the resultant termination of this Agreement. Buyer
      irrevocably waives any right it may have to raise as a defense that any such
      liquidated damages are excessive or punitive. For greater certainty, the Parties
      agree that the right to receive payment of the amount determined pursuant to
      this Section 9.3 in the manner provided herein is the sole and exclusive remedy
      of Seller. There shall be no liability of any shareholder, partner, member,
      director, officer, employee, advisor or representative of Buyer or Seller or
      any
      Affiliate thereof, whether to Buyer or Seller, as the case may be, or any other
      Person (including any shareholder, partner, member, director, officer, employee,
      advisor or representative thereof) in connection with any liability or other
      obligation of Buyer or Seller or any Affiliate thereof, whether hereunder or
      otherwise in connection with the transactions contemplated hereby.

     

    ARTICLE
      X  

     

    MISCELLANEOUS
      PROVISIONS

     

    10.1  Amendment
      and Modification. 
      Subject
      to applicable law, this Agreement may be amended, modified or supplemented
      only
      by written agreement of Seller and Buyer.

     

    10.2  Waiver
      of Compliance; Consents. 
      Except
      as
      otherwise provided in this Agreement, any failure of any of the Parties to
      comply with any obligation, covenant, agreement or condition herein may be
      waived by the Party entitled to the benefits thereof only by a written
      instrument signed by the Party granting such waiver, but such waiver of such
      obligation, covenant, agreement or condition shall not operate as a waiver
      of,
      or estoppel with respect to, any subsequent failure to comply
      therewith.

     

    10.3  Notices. 
      All
      notices and other communications hereunder shall be in writing and shall be
      deemed given if delivered personally or by facsimile transmission, or mailed
      by
      overnight courier or registered or certified mail (return receipt requested),
      postage prepaid, to the recipient Party at its address (or at such other address
      or facsimile number for a Party as shall be specified by like notice;
provided,
      however,
      that
      notices of a change of address shall be effective only upon receipt
      thereof):

     

    (a)  If
      to
      Seller, to:

     

    Centennial
      Energy Resources LLC

    1200
      West
      Century Avenue

    Bismarck,
      North Dakota 58503

    Attention:
      General Counsel

    Facsimile:
      (701) 530-1731

     

    with
      a
      copy to:

    

    Thelen
      Reid Brown Raysman & Steiner LLP

    875
      Third
      Avenue

    New
      York,
      New York 10022

    Attention:
      Douglas E. Davidson, Esq.

    Facsimile:
      (212) 603-2001

     

    (b)  if
      to
      Buyer, to:

     

    c/o
      CES
      Acquisition Corp.

    575
      Broadway, 3rd
      Floor

    New York,
      New York 10012

    Attention:
      Christopher L. Ryan

    Facsimile:
      (212) 343-9949

     

    with
      a
      copy to:

     

    National
      Gas Partners

    125
      East
      John Carpenter Freeway, Suite 600

    Irving,
      Texas 75062

    Attention:
      Christopher Ray

    Facsimile:
      (972) 432-1441

     

    and

     

    Paul,
      Weiss, Rifkind, Wharton & Garrison LLP

    1285
      Avenue of the Americas

    New York,
      New York 10019-6064

    Attention:
      Carl L. Reisner, Esq.

    Facsimile:
      (212) 492-0017

    

    10.4  Assignment. 
      This
      Agreement and all of the provisions hereof shall be binding upon and inure
      to
      the benefit of the Parties hereto and their respective successors and permitted
      assigns, but neither this Agreement nor any of the rights, interests or
      obligations hereunder shall be assigned by either Party hereto, including by
      operation of law, without the prior written consent of the other Party.
      Notwithstanding the foregoing, Buyer may (i) assign its rights pursuant to
      this Agreement to its Affiliates, (ii) designate one or more of its
      Affiliates to perform its obligations hereunder with the prior written consent
      of Seller (which consent shall not be unreasonably withheld) and
      (iii) assign its rights, but not its obligations, under this Agreement to
      any of its financing sources without the consent of the Seller. This Agreement
      is not intended to confer upon any other Person except the Parties hereto any
      rights, interests, obligations or remedies hereunder. No provision of this
      Agreement shall create any third party beneficiary rights in any employee or
      former employee of Seller (including any beneficiary or dependent thereof)
      in
      respect of continued employment or resumed employment, and no provision of
      this
      Agreement shall create any rights in any such Persons in respect of any benefits
      that may be provided, directly or indirectly, under any employee benefit plan
      or
      arrangement except as expressly provided for thereunder.

     

    10.5  Governing
      Law;
      Venue; Waiver of Jury Trial. 
      This
      Agreement shall be governed by and construed in accordance with the law of
      the
      State of New York (without giving effect to conflict of law principles) as
      to
      all matters, including but not limited to matters of validity, construction,
      effect, performance and remedies. THE PARTIES HERETO AGREE THAT VENUE IN ANY
      AND
      ALL ACTIONS AND PROCEEDINGS RELATED TO THE SUBJECT MATTER OF THIS AGREEMENT
      SHALL BE IN THE STATE AND FEDERAL COURTS IN AND FOR NEW YORK COUNTY, NEW YORK,
      WHICH COURTS SHALL HAVE EXCLUSIVE JURISDICTION FOR SUCH PURPOSE, AND THE PARTIES
      HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS AND
      IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF
      ANY
      SUCH ACTION OR PROCEEDING. SERVICE OF PROCESS MAY BE MADE IN ANY MANNER
      RECOGNIZED BY SUCH COURTS. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ITS
      RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY
      DISPUTE IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
      HEREBY.

     

    10.6  Counterparts. 
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

     

    10.7  Interpretation. 
      The
      articles, section and schedule headings contained in this Agreement are solely
      for the purpose of reference, are not part of the agreement of the parties
      and
      shall not in any way affect the meaning or interpretation of this
      Agreement.

     

    10.8  Schedules
      and Exhibits. 
      Except
      as
      otherwise provided in this Agreement, all Exhibits and Schedules referred to
      herein are intended to be and hereby are specifically made a part of this
      Agreement. Each Schedule to this Agreement shall be deemed to include and
      incorporate all disclosures made on the other Schedules to this
      Agreement.

     

    10.9  Entire
      Agreement. 
      This
      Agreement and the Confidentiality Agreement, including the Exhibits, Schedules,
      documents, certificates and instruments referred to herein or therein, embody
      the entire agreement and understanding of the Parties hereto in respect of
      the
      transactions contemplated by this Agreement. There are no restrictions,
      promises, representations, warranties, covenants or undertakings, other than
      those expressly set forth or referred to herein or therein. It is expressly
      acknowledged and agreed that there are no restrictions, promises,
      representations, warranties, covenants or undertakings contained in any material
      made available to Buyer pursuant to the terms of the Confidentiality Agreement
      including, without limitation, the Confidential Information Memorandum dated
      January 2007. This Agreement supersedes all prior agreements and understandings
      between the Parties (other than the Confidentiality Agreement) with respect
      to
      such transactions.

     

    10.10  U.S.
      Dollars. 
      Unless
      otherwise stated, all dollar amounts set forth herein are United States (U.S.)
      dollars.

    IN
      WITNESS WHEREOF, Seller and Buyer have caused this Agreement to be signed by
      their respective duly authorized officers as of the date first above
      written.

     

    
      	
              CENTENNIAL
                ENERGY RESOURCES LLC

            	
              MONTANA
                ACQUISITION COMPANY LLC

            
	
               

               

               

              By:
                /s/
                Paul Gatzemeier

              Name: Paul
                Gatzemeier

              Title: President
                and CEO

            	
               

               

               

              By:
                /s/
                Paul B. Prager

              Name: Paul
                B. Prager

              Title: President

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