Document:

bdco_ex101.htm

Exhibit 10.1

 

AMENDMENT NO. 2 TO OPERATING AGREEMENT

THIS AMENDMENT NO. 2 to the OPERATING AGREEMENT (the "Amendment"), is made this 1st  day of June, 2015 (the "Effective Date") by and among Lazarus Energy Holdings, LLC, a Delaware limited liability company ("LEH"), Blue Dolphin Energy Company, a Delaware corporation ("Blue Dolphin"), and Lazarus Energy, LLC, a Delaware limited liability company ("LE").  LEH, Blue Dolphin, and LE are sometimes referred to herein as the "Parties," and individually as a "Party".

WHEREAS, on February 15, 2012, LEH, Blue Dolphin, and LE entered into that certain Management Agreement (the "Existing Agreement") to engage LEH to manage Blue Dolphin and all of its subsidiaries and operate all of Blue Dolphin' s assets, including the Refinery;

WHEREAS, on May 12, 2014, LEH, Blue Dolphin, and LE entered into that certain Amendment NO. 1 to the Existing Agreement to: (i) delete the words "Management Agreement" and replace in lieu thereof the words "Operating Agreement"; and (ii) amend Paragraph 6(a)(ii) by deleting the words “the expiration of the ‘Initial Term’ provided for in the Joint Marketing Agreement, which is August 12, 2014” and replacing in lieu thereof the words “August 12, 2015”; and

WHEREAS the Parties desire to further amend the Existing Agreement to read as set forth herein.

NOW, THEREFORE, in consideration of the foregoing, which are incorporated herein as though set forth in full, and Ten and No/ 100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree to further amend the Existing Agreement to read as follows:

1.           Definitions. Capitalized terms used and not defined in this Amendment have the respective meanings assigned to them in the Existing Agreement.

2.           Amendments to the Existing Agreement. As of the Effective Date, the Existing Agreement is hereby further amended or modified as follows:

(a) Paragraph 5(d) of the Existing Agreement is hereby amended by deleting all existing text in its entirety and replacing in lieu thereof “Blue Dolphin shall reimburse LEH at cost for all reasonable Blue Dolphin expenses incurred while performing the Services.  Amounts payable to LEH by Blue Dolphin for expenses incurred in a calendar month shall be paid as incurred.

(b) Paragraph 5 of the Existing Agreement is hereby amended by adding sub-paragraph (e), which shall read as follows:  “Management services as defined under Services in the Existing Agreement shall exclude the payment of property taxes, property insurance, principal and interest on loans, turnaround expenses, capital expenditures, environmental and regulatory compliance matters (including the purchase of related equipment and supplies), product dyes, chemicals, propane, fuel and other items as determined from time to time by Blue Dolphin’s board of directors, at their sole discretion.”

(c) Paragraph 6(a)(ii) of the Existing Agreement is hereby amended by deleting the words “August 12, 2015” and replacing in lieu thereof the words "August 12, 2018".

3.           Date of Effectiveness: Limited Effect. This Amendment will become effective on the Effective Date. Except as expressly provided in this Amendment, all of the terms and provisions of the Existing Agreement are and will remain in full force and effect and are hereby ratified and confirmed by the Parties.

 

4.           Miscellaneous.

(a) This Amendment is governed by, and construed in accordance with, the laws of the State of Texas, without regard to the conflict of law provisions of such State.

(b) This Amendment shall inure to the benefit of and be binding upon each of the Parties and each of their respective permitted successors and permitted assigns.

(c) The headings in this Amendment are for reference purposes only and do not affect the interpretation of this Amendment.

(d) This Amendment may be executed in counterparts, each of which is deemed an original, but all of which constitutes one and the same agreement. Delivery of an executed counterpart of this Amendment electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Amendment.

(e) This Amendment constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter.

[Remainder of page intentionally left blank; signature page to follow.]

 

  

  

  

 

IN WITNESS WHEREOF, the Parties have executed this Amendment as of the Effective Date.

 

	LAZARUS ENERGY HOLDINGS, LLC	 	BLUE DOLPHIN ENERGY COMPANY	 
	 	 	 	 	 	 
	By:	
/s/ JONATHAN P. CARROLL

	 	By:	
/s/ TOMMY L. BYRD

	 
	 	
Jonathan P. Carroll

	 	 	
Tommy L. Byrd

	 
	 	

Director

	 	 	

Interim Chief Financial Officer

	 
	 	 	 	 	 	 
	

LAZARUS ENERGY, LLC

	 	 	 	 
	 	 	 	 	 	 
	By:	

/s/ JONATHAN P. CARROLL

	 	 	 	 
	 	Jonathan P. Carroll	 	 	 	 
	 	

Director

	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

 

 

 

2cafd-ex101_6.htm

 

Exhibit 10.1

AMENDMENT NO. 1

TO

OMNIBUS AGREEMENT

This AMENDMENT NO. 1 TO OMNIBUS AGREEMENT (this “Amendment”), dated as of August 11, 2015 is made and entered into among 8point3 Operating Company, LLC, a Delaware limited liability company (the “Operating Company”), 8point3 General Partner, LLC, a Delaware limited liability company (the “YieldCo General Partner”), 8point3 Holding Company, LLC, a Delaware limited liability company (“Holdings”), 8point3 Energy Partners LP, a Delaware limited partnership (the “Partnership”), First Solar, Inc., a Delaware corporation (“First Solar”) and SunPower Corporation, a Delaware corporation (“SunPower” and, together with First Solar, each a “Sponsor” and collectively, the “Sponsors”).  The above-named entities are sometimes referred to in this Amendment as a “Party” and collectively as the “Parties.

WITNESSETH 

WHEREAS, the Parties entered into that certain Omnibus Agreement on June 24, 2015 (the “Agreement”); and

WHEREAS, the Parties desire to amend the Agreement to reflect the Parties’ agreement as to certain matters set forth below. 

NOW, THEREFORE, in consideration of the mutual covenants set forth in this Amendment and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

Section 1.01   Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings ascribed to such terms in the Agreement. 

Section 1.02   Amendments. 

(a)   Section 1.1 of the Agreement shall be amended by adding the following defined terms, each in its appropriate alphabetical position:

““Final Network Upgrades Invoice” means, for each LGIA Project under its respective LGIA, the final invoice setting forth the construction costs of “Network Upgrades” (as defined in such LGIA) delivered by the “Participating TO” (as defined in such LGIA) pursuant to Section 12.2 of such LGIA.

“LGIA” means, for each LGIA Project, any Large Generator Interconnection Agreement entered into by the Contributed Company that directly owns such LGIA Project, the California Independent System Operator Corporation and the “Participating TO” (as defined in such LGIA).

 

 

 

 

“LGIA Project” means either the Quinto project and the North Star project, each as identified on Schedule I, as applicable.

“Modeled Network Upgrade Costs” means (a) in the case of the Quinto project, $41,177,000, and (b) in the case of the North Star project, $20,813,000.

“Network Upgrade Costs” means, with respect to any LGIA, the construction costs of “Network Upgrades” (as defined in such LGIA).

“Network Upgrade Cost Differential” means, with respect to each LGIA Project, the positive difference (if any) between (a) the Modeled Network Upgrade Costs in respect of such LGIA Project less (b) the aggregate amount of all Network Upgrades Costs paid by or on behalf of the Contributed Company that directly owns such LGIA Project pursuant to its LGIA.”

(b)   The following text shall be added after the last sentence of Section 2.2(b) of the Agreement:

“In addition, with respect to any LGIA Project, the Sponsor that, directly or indirectly, contributed such LGIA Project to the Operating Company shall pay to the Operating Company, no later than the 30th day after COD for such LGIA Project, the amount of any Network Upgrade Cost Differential (calculated based upon the Final Network Upgrades Invoice for such LGIA Project); provided, if the Final Network Upgrades Invoice has not been delivered prior to such 30th day after COD, (I) such payment shall become due on the earlier of (x) January 15, 2016 and (y) five (5) Business Days following receipt of such Final Network Upgrades Invoice, (II) the Network Upgrade Cost Differential shall be calculated based upon all invoices delivered under such LGIA prior to the date of such payment, and (III) following receipt of the Final Network Upgrades Invoice, the Operating Company shall reimburse such Sponsor the positive difference (if any) between (x) the amount of such payment and (y) the Network Upgrade Cost Differential calculated based upon the Final Network Upgrades Invoice.”

(c)   The following text shall be added to Part B of Schedule II:

“The “Master Lease,” as defined in the Termination of Agreements, dated as of January 23, 2015, among SPWR Lease Co I, LLC, SunPower SolarProgram II, LLC, SunPower Corporation, Systems, a Delaware corporation, SunPower Capital, LLC and SunPower Corporation (the “Citi/CS Termination Agreement”), and any other agreements related thereto (including the Citi/CS Termination Agreement).

The “Master Lease,” as defined in the Termination of Agreements, dated as of January 29, 2015, among Catania Solar, LLC, SunPower SolarProgram I, LLC, SunPower Corporation, Systems, a Delaware corporation, SunPower Capital, LLC and SunPower Corporation (the “Catania Termination Agreement”), and any other agreements related thereto (including the Catania Termination Agreement).”

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Section 1.03   Continuity.  Except as expressly modified hereby, the terms and provisions of the Agreement and all instruments, agreements or other documents executed and delivered in connection therewith shall continue in full force and effect. Whenever the “Agreement” is referenced in the Agreement or any of the instruments, agreements or other documents executed and delivered in connection therewith, such references shall be deemed to mean the Agreement as modified hereby.

Section 1.04   Parties in Interest.  This Amendment is binding upon and is for the benefit of the Parties hereto and their respective successors and permitted assigns.  This Amendment is not made for the benefit of any Person not a party hereto, and no Person other than the Parties hereto and their respective successors and permitted assigns will acquire or have any benefit, right, remedy or claim under or by virtue of this Amendment.

Section 1.05   Severability.  Whenever possible each provision and term of this Amendment will be interpreted in a manner to be effective and valid.  If any term or provision of this Amendment or the application of any such term or provision to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, the remaining provisions hereof, or the application of such term or provision to Persons or circumstances other than those as to which it has been held invalid, illegal or unenforceable, will remain in full force and effect and will in no way be affected, impaired or invalidated thereby.  If any term or provision of this Amendment is held to be prohibited or invalid, then such term or provision will be ineffective only to the extent of such prohibition or invalidity without invalidating or affecting in any manner whatsoever the remainder of such term or provision or the other terms and provisions of this Amendment.  Upon determination that any other term or provision of this Amendment is invalid, void, illegal, or unenforceable, a court of competent jurisdiction will modify such term or provision so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the fullest extent possible under the Law.

Section 1.06   Facsimile; Counterparts.  Any Party may deliver executed signature pages to this Amendment by facsimile transmission to the other Parties, which facsimile copy shall be deemed to be an original executed signature page.   This Amendment may be executed in one or more counterparts, each of which will be deemed an original, but all of which together will constitute a single instrument.

Section 1.07   GOVERNING LAW.  THIS AMENDMENT, INCLUDING THE FORMATION, BREACH, TERMINATION, VALIDITY, INTERPRETATION AND ENFORCEMENT THEREOF, AND ALL TRANSACTIONS CONTEMPLATED BY THIS AMENDMENT, SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO PRINCIPLES OR RULES OF CONFLICT OF LAWS, TO THE EXTENT SUCH PRINCIPLES OR RULES WOULD PERMIT OR REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.  FOR THE AVOIDANCE OF DOUBT, IT IS INTENDED THAT 6 DEL. C. § 2708, WHICH PROVIDES FOR ENFORCEMENT OF DELAWARE CHOICE OF LAW WHETHER OR NOT THERE ARE OTHER RELATIONSHIPS WITH DELAWARE, SHALL APPLY.

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[Remainder of Page Intentionally Left Blank; Signature Page Follows]

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IN WITNESS WHEREOF, each of the Parties has caused this Amendment to be executed as of the date first above written and delivered in their names by their respective duly authorized officers or representatives.

 

	
8point3 Energy Partners LP

	
 
	
 
	
 

	
By: 8point3 General Partner, LLC, its general partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Charles D. Boynton

	
 
	
 
	
Name: Charles D. Boynton

	
 
	
 
	
Title: Chief Executive Officer

	
 
	
 
	
 

	
8point3 General Partner, LLC

	
 
	
 
	
 

	
By:
	
 
	
/s/ Charles D. Boynton

	
 
	
 
	
Name: Charles D. Boynton

	
 
	
 
	
Title: Chief Executive Officer

	
 
	
 
	
 

	
8point3 Operating Company, LLC

	
 
	
 
	
 

	
By: 8point3 Energy Partners LP, its managing member

	
 
	
 
	
 

	
By: 8point3 General Partner, LLC, its general partner

	
 
	
 
	
 

	
By:
	
 
	
/s/ Charles D. Boynton

	
 
	
 
	
Name: Charles D. Boynton

	
 
	
 
	
Title: Chief Executive Officer

[Signature Page to Amendment No. 1 to Omnibus Agreement]

 

	
8point3 Holding Company, LLC

	
 
	
 
	
 

	
By: First Solar 8point3 Holdings, LLC, its member

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark Widmar

	
 
	
 
	
Name: Mark Widmar

	
 
	
 
	
Title: Authorized Signatory

	
 
	
 
	
 

	
By: SunPower YC Holdings, LLC, its member

	
 
	
 
	
 

	
By:
	
 
	
/s/ Charles D. Boynton

	
 
	
 
	
Name: Charles D. Boynton

	
 
	
 
	
Title: Manager

	
 
	
 
	
 

	
First Solar, Inc.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark R. Widmar

	
 
	
 
	
Name: Mark R. Widmar

	
 
	
 
	
Title: Chief Financial Officer

	
 
	
 
	
 

	
SunPower Corporation

	
 
	
 
	
 

	
By:
	
 
	
/s/ Charles D. Boynton

	
 
	
 
	
Name: Charles D. Boynton

	
 
	
 
	
Title: Executive Vice President, Chief Financial Officer and Assistant Secretary

 

[Signature Page to Amendment No. 1 to Omnibus Agreement]

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