Document:

Document

CONSENT AND FIFTH AMENDMENT
TO 
LOAN AND SECURITY AGREEMENT

This Consent and Fifth Amendment to Loan and Security Agreement (this “Amendment”) is entered into this 30th day of June, 2017, by and between (i) SILICON VALLEY BANK (“Bank”) and (ii) WORKIVA INC., a Delaware corporation (f/k/a Workiva LLC, “Workiva”) and WORKIVA INTERNATIONAL LLC, a Delaware limited liability company (“International”, and together with Workiva, each and together, jointly and severally, “Borrower”) whose address is 55 West Monroe Street, Suite 3490, Chicago, Illinois 60603.

RECITALS

A. Bank and Borrower have entered into that certain Loan and Security Agreement dated as of August 22, 2014, as affected by a First Amendment to Loan and Security Agreement, dated as of October 16, 2014, as further affected by a Second Amendment to Loan and Security Agreement dated as of November 25, 2014, as further affected by a Third Amendment to Loan and Security Agreement dated as of February 26, 2015, and as further affected by a Consent and Fourth Amendment to Loan and Security Agreement dated April 5, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”).

B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.

C. Borrower has requested that Bank amend the Loan Agreement to make certain revisions to the Loan Agreement as more fully set forth herein.

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

AGREEMENT

        NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

1. Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

2. Amendments to Loan Agreement.

2.1 Section 3.2 (Conditions Precedent to all Credit Extensions).
Subsections (a) and (b) of Section 3.2 are amended in their entirety and replaced with the following:

“(a) timely receipt of the Credit Extension request and any materials and documents required by Section 3.4; 

(b) the representations and warranties in this Agreement shall be true, accurate, and complete in all material respects on the date of the proposed Credit Extension and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Event of Default shall have occurred and be continuing or result from the Credit Extension.  Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement remain true, accurate, and complete in all material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; and”

2.2 Section 3.4 (Procedures for Borrowing).  Section 3.4 is amended in its entirety and replaced with the following:

“3.4 Procedures for Borrowing. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance (other than Advances under Sections 2.2.2) set forth in this Agreement, to obtain an Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail by 2:00 p.m. Eastern time on the Funding Date of the Advance.  Such notice shall be made by Borrower through Bank’s online banking program, provided, however, if Borrower is not utilizing Bank’s online banking program, then such notice shall be in a written format acceptable to Bank that is executed by an Authorized Signer.  As to any Authorized Signer providing such notices and requesting Advances, Bank shall rely on the Borrower’s Borrowing Resolution last delivered to Bank by Borrower.  In connection with any such notification, Borrower must promptly deliver to Bank by electronic mail or through Bank’s online banking program such reports and information as Bank may request in its sole discretion.  Bank shall credit proceeds of an Advance to the Designated Deposit Account.  Bank may make Advances under this Agreement based on instructions from an Authorized Signer or without instructions if the Advances are necessary to meet Obligations which have become due.”

2.3 Section 6.2 (Financial Statements, Reports, Certificates).  Subsection (a) of Section 6.2 is amended in its entirety and replaced with the following:

“(a) a Borrowing Base Report (and any schedules related thereto and including any other information requested by Bank with respect to Borrower’s Accounts, including, 

without limitation, details of Annualized Customer Retention Rate, Borrowing Base, Quarterly Churn and Recurring Revenue) (i) with each request for an Advance, and (ii) within forty-five (45) days after the end of each fiscal quarter (thirty (30) days after the end of each month when there are Credit Extensions outstanding);”

2.4 Section 6.2(k) (Financial Statements, Reports, Certificates).  The following new subsection (k) is hereby inserted in Section 6.2 immediately following subsection (j) thereof:

“(k) within ten (10) days after the end of each fiscal quarter, account statements from Bankers Trust as of the end of each month in the immediately preceding fiscal quarter in respect of the Controlled Cash Collateral Account and all other Collateral Accounts in the name of the Borrower maintained at Bankers Trust.”

2.5 Section 6.3 (Accounts Receivable).  Subsection (c) of Section 6.3 is amended in its entirety and replaced with the following:

“(c) Collection of Accounts.  Borrower shall have the right to collect all Accounts unless and until a Default or an Event of Default has occurred and is continuing.  Borrower shall direct Account Debtors to deliver or transmit all proceeds of Accounts into a lockbox account, or such other “blocked account” subject to a Control Agreement in form and substance reasonably satisfactory to Bank, including, without limitation, the Deposit Accounts subject to the Bankers Trust DACA (such accounts, the “Controlled Cash Collateral Account”).  Whether or not an Event of Default has occurred and is continuing, Borrower shall deliver all payments on and proceeds of Accounts to the Controlled Cash Collateral Account.  Borrower shall maintain at all times a “blocked account” at Bank (the “SVB Cash Collateral Account”).  Following the occurrence and continuance of an Event of Default, Bank shall have the right to apply the funds in the Controlled Cash Collateral Account or the SVB Cash Collateral Account pursuant to Section 9.4.  Borrower hereby authorizes Bank to transfer to the SVB Cash Collateral Account amounts, if any, received by Bank that Bank reasonably determines are proceeds of the Accounts (provided that Bank is under no obligation to do so and this allowance shall in no event relieve Borrower of its obligations hereunder).”

2.6 Section 6.3 (Accounts Receivable).  Subsection (e) of Section 6.3 is deleted in its entirety and replaced with the following:

“(e) Verifications; Confirmations; Credit Quality; Notifications.  Bank may (i) prior to the occurrence and continuance of an Event of Default, verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and upon the occurrence and during the continuance of an Event of Default, notify any Account Debtor of Bank’s security interest in such Account and/or (ii) upon the occurrence and during the 

continuance of an Event of Default, conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit.”

2.7 Section 6.14 (Online Banking).  Section 6.14 is hereby inserted immediately following Section 6.14:

“6.14 Online Banking.  Utilize Bank’s online banking platform for all matters requested by Bank which shall include, without limitation (and without request by Bank for the following matters), uploading information pertaining to Accounts and Account Debtors, requesting approval for exceptions, and requesting Credit Extensions (provided, that Borrowing Base Reports, Monthly Financial Statements, Compliance Certificates, and certain other financial reports required to be delivered pursuant to Section 6.2 of this Agreement shall be delivered to Bank by electronic mail).”

2.8 Section 8.2(a) (Covenant Default).  Section 8.2(a) is amended in its entirety and replaced with the following:

“(a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.5, 6.7, 6.8, 6.9, 6.10(b), 6.12, 6.13, or violates any covenant in Section 7; or”

2.9 Section 13 (Definitions).  The following new terms and their definitions are inserted alphabetically in Section 13.1:
 
“Bankers Trust DACA” means that certain Deposit Account Control Agreement dated as of November 24, 2014, as such agreement may be amended, modified, amended and restated, or replaced from time to time, by and among Borrower, Bank, and Bankers Trust with respect to Borrower’s accounts identified therein.

“Borrowing Base Report” is that certain report of the value of certain Collateral in the form attached hereto as Exhibit C.

“Controlled Cash Collateral Account” has the meaning set forth in Section 6.3(c).

“SVB Cash Collateral Account” has the meaning set forth in Section 6.3(c).

2.10 Section 13 (Definitions).  The following defined terms set forth in Section 13.1 are deleted in their entirety:

“Cash Collateral Account” is defined in Section 6.3(c).

“Transaction Report” is that certain report of transactions and schedule of collections on the Bank’s standard form.

2.11 Compliance Certificate (Exhibit B).  The Compliance Certificate 

attached to the Loan Agreement as Exhibit B is amended in its entirety and replaced with the Compliance Certificate in the form of Exhibit B attached hereto.

2.12 Borrowing Base Report (Exhibit C).  The Borrowing Base Report in the form of Exhibit C attached hereto is inserted in the Loan Agreement immediately following Exhibit B thereof.

3. Consent to Transactions.  Borrower has notified Bank that Borrower has formed Workiva Holdings Limited, a company formed under the laws of England and Wales with registration number 10739503 (“UK Holdco”), and a wholly-owned Subsidiary of Workiva (the “Subsidiary Formation”).  Borrower has also notified Bank that Workiva intends to transfer all of its ownership interest in each of Workiva Canada ULC, Workiva Netherlands B.V., and Workiva UK Limited, to UK Holdco whereupon each such entity will be a wholly-owned subsidiary of UK Holdco (collectively, the “Transfer”).  In addition, Borrower has notified Bank that it intends to dissolve Workiva Brasil Relatorios Empresarias Online LTDA, a wholly-owned Subsidiary of Workiva, and transfer its assets to a Borrower (the “Dissolution”; the Subsidiary Formation, the Transfer and the Dissolution are collectively referred to as the “Transactions”).  Borrower acknowledges that the Transactions are prohibited under the terms of the Loan Agreement and require Bank consent.  Accordingly, notwithstanding anything to the contrary contained in Section 6.12 (Formation or Acquisition of Subsidiaries), Section 7.1 (Dispositions), or Section 7.7 (Distributions; Investments) of the Loan Agreement, subject to the terms and conditions set forth in Section 10 of this Agreement, Bank consents to the Transactions; provided, however, as a condition to such consent, (i) no Default or Event of Default shall have occurred prior to or immediately after the consummation of the Transactions; and (ii) Borrower shall provide Bank with evidence of the Dissolution, and in connection therewith, the transfer of assets to a Borrower.  The following consent applies only to the Transactions and is not a consent to or waiver of any subsequent application of the same provisions of the Loan Agreement, nor is it a waiver of any breach of any other provision of the Loan Agreement and the other Loan Documents.  The foregoing consent does not establish a course of dealing upon which Borrower may rely on in the future.

4. Limitation of Amendments.

4.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.

4.2 This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.

5. Representations and Warranties.  To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:

5.1 Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing;

5.2 Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;

5.3 The organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

5.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 

5.5 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

5.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on either Borrower, except as already has been obtained or made; and

5.7 This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.

6. Ratification of Perfection Certificate.  Except as affected by the terms of the Transaction, Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of April 5, 2016, and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate have not changed, as of the date hereof.

7. No Defenses of Borrower.  Borrower hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with respect to the 

Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder.

8. Integration.  This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements.  All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.

9. Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

10. Effectiveness.  This Amendment shall be deemed effective upon the following:

10.1 the due execution and delivery to Bank of this Amendment by each party hereto;

10.2 an amendment to that certain Amended and Restated Stock Pledge Agreement dated as of the Effective Date to incorporate the pledge by Borrower of the equity interests of the UK Holdco owned by Workiva, together with the original share certificate issued to Workiva and a stock power or similar instrument in connection therewith; 

10.3 Borrower’s payment of Bank’s legal fees and expenses incurred in connection with this Amendment; and

10.4 such other documents as Bank may reasonably request.

[Signature page follows.]
 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above.

																								
	BANK 				BORROWER 			
	Silicon Valley Bank 				Workiva Inc. 			
								
	By: /s/ Heather LaFreniere 
				By:  /s/ Martin J. Vanderploeg 
			
	Name: Heather LaFreniere 
				Name: Martin J. Vanderploeg 
			
	Title: Director 
				Title: Chief Operating Officer 
			
								
				 	Workiva International LLC 			
								
					By:  /s/ Martin J. Vanderploeg 
			
					Name: Martin J. Vanderploeg 
			
				 	Title: Vice President 
			

 

[Signature page to Consent and Fifth Amendment to Loan and Security Agreement]

 

 

EXHIBIT B
COMPLIANCE CERTIFICATE

TO:  SILICON VALLEY BANK     Date:  
__________________   
FROM:   WORKIVA INC. and WORKIVA INTERNATIONAL LLC

The undersigned authorized officer of Workiva Inc. and Workiva International LLC (each and together, jointly and severally, “Borrower”) certifies that under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (as amended, the “Agreement”), (1) Borrower is in complete compliance for the period ending _______________ with all required covenants except as noted below, (2) there are no Events of Default, (3) all representations and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, (4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the Agreement, and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries, if any, relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank.  Attached are the required documents supporting the certification.  The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes.  The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered.  Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement.

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	Please indicate compliance status by circling Yes/No under “Complies” column. 		
	 	 	 
	Reporting Covenant 	Required 	Complies 
	 	 	 
	Quarterly financial statements with  Compliance Certificate 	Quarterly within 45 days 	Yes   No 
	Annual financial statement (CPA Audited) + CC 	FYE within 150 days 	Yes   No 
	10-Q, 10-K and 8-K	Within 5 days after filing with SEC 	Yes   No 
	A/R & A/P Agings & Deferred Revenue 	Quarterly within 45 days 	Yes   No 
	Borrowing Base Report 	Monthly within 30 days (Quarterly within 45 days if no outstanding  Credit Extensions) 	Yes   No 
	Projections 	FYE within 60 days 	Yes   No 
	 		
	The following Intellectual Property was registered after the Effective Date (if no registrations, state “None”)______________________________________________________________________ 		

												
	Financial Covenant 	Required 	Actual 	Complies 
	 	 	 	 
	Maintain as indicated: 	 	 	 
	Minimum Liquidity 	$	5,000,000 	$ 	Yes   No 
	Minimum Recurring Revenue 	See Sec 6.9(b) 	$ 	Yes   No 

        The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”)

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

									
	WORKIVA INC. 		BANK USE ONLY  
	WORKIVA INTERNATIONAL LLC 		Received by: _____________________ 
	 		                           AUTHORIZED SIGNER 
	 		Date:    _________________________ 
	By:         _________________________ 		 
	Name:    _________________________ 		Verified: ________________________ 
	Title:      _________________________ 		                           AUTHORIZED SIGNER 
			Date:    _________________________ 
			 
			Compliance Status:   Yes     No 

 

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Schedule 1 to Compliance Certificate

Financial Covenants of Borrower

In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern.

I. Liquidity (Section 6.9(a))

Required: $5,000,000

									
	A. 	Unrestricted cash and Cash Equivalents at Bank or in Deposit Accounts or Securities Accounts subject to a Control Agreement in favor of Bank 	$_ 
			
	B. 	Availability Amount 	$_ 
			
	C. 	Liquidity (line A plus line B) 	$_ 

Is line C equal to or greater than $5,000,000?

_______ No, not in compliance     _______ Yes, in compliance

 

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II. Minimum Recurring Revenue to Plan (Section 6.9 (b))

Required: As of the last day of each quarter on a trailing three (3) month basis, Borrower’s and its Subsidiaries’ consolidated Recurring Revenue for such quarter shall not be less than the greater of (i) eighty percent (80%) of Borrower’s and its Subsidiaries’ consolidated Recurring Revenue for such quarter as outlined in Borrower’s business plan approved by its board of directors or (ii) Borrower’s and its Subsidiaries’ consolidated Recurring Revenue for the prior quarter.

Actual:

									
	A. 	Recurring Revenue 	$_ 

Is the value of line A at least equal to the greater of (i) eighty percent (80%) of the value projected for consolidated Recurring Revenue in Borrower’s and its Subsidiaries business plan or (ii) Borrower’s and its Subsidiaries’ consolidated Recurring Revenue for the prior quarter?

_______ No, not in compliance     _______ Yes, in compliance
 

 

 

EXHIBIT C

Form of Borrowing Base Report

[To be provided by Bank]EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 AMENDMENT
NO. 6 TO AMENDED & RESTATED LOAN AGREEMENT PF 
 THIS AMENDMENT NO. 6 TO AMENDED & RESTATED LOAN
AGREEMENT (PF) (this “Sixth Amendment”), dated as of June 8, 2017, is by and among (i) HASI CF I Borrower LLC, a Delaware limited liability company (“Borrower HASI”), HAT
CF I Borrower LLC, a Delaware limited liability company (“Borrower HAT I”) and HAT CF II Borrower LLC, a Delaware limited liability company (“Borrower HAT II”, and
together with Borrower HASI and Borrower HAT I, the “Borrowers”), (ii) Bank of America, N.A., in its capacity as lender under the A&R Loan Agreement (as defined below) (in such capacity, the
“Lender”), (iii) Bank of America, N.A., in its capacity as administrative agent under the A&R Loan Agreement (in such capacity, the “Administrative Agent”), and (iv) for purposes of Section 3
only, Bank of America, N.A., in its capacity as administrative agent under the Other Loan Agreement (in such capacity, the “Other Administrative Agent”). 

WHEREAS, the Borrowers, the Lender, and the Administrative Agent are parties to an Amended & Restated Loan Agreement (PF)
dated as of August 12, 2014 (as amended, amended and restated, or otherwise modified from time to time, the “A&R Loan Agreement”); 

WHEREAS, (a) the Borrowers, the Lender, and the Administrative Agent have agreed to amend certain provisions of the A&R Loan
Agreement as more specifically set forth herein and (b) the Other Administrative Agent has agreed to consent to such amendments as more specifically set forth herein. 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto
hereby agree as follows: 
 SECTION 1. Definitions. 

Capitalized terms used in this Sixth Amendment but not defined herein shall have the meanings ascribed thereto in the A&R Loan Agreement. 

SECTION 2. Required Lender. 
 The Lender holds 100% of
the Outstanding Amount and the aggregate unused Commitments under the A&R Loan Agreement and thus constitutes the Required Lender for purposes of the A&R Loan Agreement and this Sixth Amendment. 

SECTION 3. A&R Loan Agreement Amendment. 
 In
accordance with Section 15.1.1 of the A&R Loan Agreement and, with respect to the Administrative Agent and the Other Administrative Agent, Section 2.4(c)(i) of the A&R Intercreditor
Agreement, and in each case subject to the terms set forth herein, as of the date hereof, the Required Lender, the Administrative Agent, the Other Administrative Agent and each Borrower hereby agree to amend the A&R Loan Agreement as follows:

 . 

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement 
  

	 	i.	Section 2.6 of the A&R Loan Agreement is amended by deletion of clause (b) in its entirety and replacement with the following: 

“(b) the date on which the aggregate principal amount of all Advances made under the Loan Facility since July 19, 2013 (without
regard to any prepayment or repayments hereunder), is equal to or greater than $1,000,000,000 (the “Maximum Advance Limitation”), and”. 

SECTION 4. Sixth Amendment as Loan Document; Representations. 
  

	 	i.	For the avoidance of doubt, the parties hereto agree that this Sixth Amendment shall be deemed to be a Loan Document under the A&R Loan Agreement. 

 

	 	ii.	The parties hereto agree that the total aggregate amount of all Advances made under the Loan Facility (without regard to any prepayment or repayments thereunder) as of the date of this Sixth Amendment is
$872,779,621.29. 

  

	 	iii.	Each Borrower represents and warrants, as to itself and each Related Borrower Party, to each Agent and the Lender, as of the date hereof, that the following statements are true and correct: 

 

	 	a.	The execution, delivery and performance by such Borrower of this Sixth Amendment, and the consummation of the transactions contemplated hereby do not and will not (i) violate in any material respect (A) any
provision of any Applicable Law with respect to such Related Borrower Party, (B) any of the Organizational Documents of any Related Borrower Party, or (C) any order, judgment or decree of any court or other agency of government binding on
any Related Borrower Party; (ii) conflict with, result in a breach of or constitute (immediately or upon the giving of notice) a default in any material respect under any Contractual Obligation of any Related Borrower Party; (iii) result
in or require the creation or imposition of any material Lien upon any of the properties or assets of any Related Borrower Party (other than any Liens permitted by or created under any of the Loan Documents in favor of Collateral Agent, on behalf of
the Secured Parties); or (iv) require any approval of stockholders, members or partners or any approval or consent of any Person under any Contractual Obligation of any Related Borrower Party; 

 

	 	b.	Such Borrower is duly authorized to execute, deliver and perform its obligations under this Sixth Amendment. The execution, delivery and performance of this Sixth Amendment has been duly authorized by all necessary
corporate, limited liability company or partnerships, as applicable, action on the part of such Borrower; and 

  

	 	c.	This Sixth Amendment is a legal, valid and binding obligation of such Borrower, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the
enforcement of creditors’ rights generally. 

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement 
  

2 

	 	iv.	For purposes of determining withholding Taxes imposed under the Foreign Account Tax Compliance Act (FATCA), from and after the effective date of this Sixth Amendment, each Borrower and each Agent shall treat (and the
Lender hereby authorizes the Agents to treat) the A&R Loan Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

 SECTION 5. Effect of Sixth Amendment. 

The amendment set forth herein is limited as written, is effective only in the specific instance and for the specific purpose for which given, and shall not
be deemed to be a waiver of or consent to, or modification of in any respect, any other term or condition in the A&R Loan Agreement or any of the documents referred to herein or therein. The terms and provisions set forth in each Loan Document
are hereby ratified and confirmed by each Borrower in all respects. Each Borrower acknowledges and agrees that the execution, delivery and performance of this Sixth Amendment by the Administrative Agent and of the Lender does not and shall not
create (nor shall Borrowers or any Related Borrower Subsidiary rely upon the existence of or claim or assert that there exists) any obligation of the Lender and the Administrative Agent to consider or agree to any amendment of or waiver or consent
with respect to any of the Loan Documents, or any other instrument or agreement to which the Administrative Agent or the Lender is a party (collectively an “Amendment or Consent”), and in the event that the Administrative Agent or
the Lender subsequently agrees to consider any requested Amendment or Consent, neither the existence of this Sixth Amendment, nor any other conduct of the Administrative Agent or the Lender related hereto, shall be of any force or effect on the
Administrative Agent’s or the Lender’s consideration or decision with respect to any such requested Amendment or Consent, and the Administrative Agent and the Lender shall not have any obligation whatsoever to consider or agree to any such
Amendment or Consent. 
 SECTION 6. Governing Law. 

This Sixth Amendment shall be governed by the laws of the State of New York. 

SECTION 7. Severability. 
 Wherever possible, each
provision of this Sixth Amendment shall be interpreted in such manner as to be valid under Applicable Law. If any provision is found to be invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining
provisions of this Sixth Amendment shall remain in full force and effect. 
 SECTION 8. Counterparts; Electronic Signatures. 

This Sixth Amendment may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a
single contract. Delivery of a signature page of this Sixth Amendment by telecopy or other electronic means shall be effective as delivery of a manually executed counterpart thereof. 

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement 
  

3 

 SECTION 9. Amendment Fee. 

In accordance with Sections 3.2.4 and 15.1.4 of the A&R Loan Agreement, as a condition precedent to the execution and delivery by the
Administrative Agent and Lenders of this Sixth Amendment, the Borrowers shall pay or cause to be paid to the Administrative Agent, the amendment fee set forth in Section 9 of that certain Amendment No. 6 to Amended and Restated Loan
Agreement (G&I), dated as of the date hereof by and among the parties hereto. 
 [Signatures Appear on Next Pages] 

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement 
  

4 

 IN WITNESS WHEREOF, the parties hereto have caused this Sixth Amendment to be executed and
delivered by their respective officers or representatives hereunto duly authorized as of the date first written above. 
  

			
	Borrowers
	
	HASI CF I BORROWER LLC, as a Borrower
		
	By:	 	 /s/ Nathaniel J. Rose

	Name:  Nathaniel J. Rose
	Title:    Authorized Signatory
	
	HAT CF I BORROWER LLC, as a Borrower
		
	By:	 	 /s/ Nathaniel J. Rose

	Name:  Nathaniel J. Rose
	Title:    Authorized Signatory
	
	HAT CF II BORROWER LLC, as a Borrower
		
	By:	 	 /s/ Nathaniel J. Rose

	Name:  Nathaniel J. Rose
	Title:    Authorized Signatory

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement 
  

			
	Lender
	
	BANK OF AMERICA, N.A., as Lender
		
	By:	 	 /s/ Claudia Welch

		 	Name: Claudia Welch
		 	Title: Director

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement 
  

					
	ACKNOWLEDGED AND AGREED:	  	
		
	BANK OF AMERICA, N.A., as Administrative Agent	  	
			
	By:	 	 /s/ Maria McClain
	  	
		 	Name: Maria McClain	  	
		 	Title: Vice President, Agency Management	  	
		
	For purposes of Section 3 only:	  	
		
	BANK OF AMERICA, N.A., as Other Administrative Agent	  	
			
	By:	 	 /s/ Maria McClain
	  	
		 	Name: Maria McClain	  	
		 	Title: Vice President, Agency Management	  	

  
 Project Moon (PF)

 Amendment No. 6 to A&R Loan Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}]]