Document:

EX-10.5

 Exhibit 10.5 

EXECUTION VERSION 
 BOND
PURCHASE AGREEMENT 
 dated September 30, 2015, 

by and among 
 HASI SYB TRUST
2015-1, 
 as Issuer 
 HA
LAND LEASE HOLDINGS, LLC, 
 as Depositor 

and 
 THE PURCHASERS NAMED
HEREIN 
 HASI SYB TRUST 2015-1A-$100,500,000, CLASS A BONDS 

 The Persons named on Schedule 1 hereto (“Purchasers” and each, individually, a
“Purchaser”) September 30, 2015 
 Ladies and Gentlemen: 

Section 1. Introduction. HASI SYB TRUST 2015-1, a Delaware statutory trust (the “Issuer”), has duly
authorized the issuance and sale of U.S.$ 100,500,000.00 principal aggregate amount of HASI SYB TRUST 2015-1A Class A Bonds (the “Bonds”) to the Purchasers named above pursuant to this Bond Purchase Agreement (this
“Agreement”). 
 The Bonds will be authorized, issued and authenticated pursuant to an Indenture, dated as of
September 30, 2015 (the “Indenture”), by and among the Issuer, Hannon Armstrong Capital, LLC, a Maryland limited liability company, as servicer (in such capacity, the “Servicer”), and The Bank of New York
Mellon, as trustee (in such capacity, the “Indenture Trustee”). Payments and transfers of the Bonds will be subject to the terms and conditions of the Indenture. Capitalized terms used but not otherwise defined herein shall have the
respective meanings set forth in the Indenture or the Contribution and Sale Agreement, as applicable, a copy of which has been provided to you. Any reference in this Agreement to “herein”, “hereto”, “hereunder” or terms
of similar import shall refer collectively to this Agreement and all schedules, exhibits and other attachments to this Agreement. The Bonds purchased by you hereunder will be represented by certificated Bonds in definitive, fully registered form.

 HA Land Lease Holdings, LLC, a Delaware limited liability company (the “Depositor”) will sell certain assets to the
Issuer pursuant to a Contribution and Sale Agreement, dated as of September 30, 2015, by and among the Issuer and the Depositor (the “Sale Agreement”). 

This Agreement and all other Transaction Documents are dated as of the date hereof (the “Closing Date”) and the sale and
purchase of the Bonds contemplated hereby is occurring on the Closing Date. 
 For good and valuable consideration, the Issuer hereby agrees
with each Purchaser as follows: 
 Section 2. Purchase, Sale, Payment and Delivery of the Bonds. The sale and purchase of
the Bonds to be purchased by each Purchaser is occurring on the date hereof at the offices of Akin Gump Strauss Hauer & Feld LLC, One Bryant Park, New York, New York 10024, at 10:00 a m., New York City time. On the date hereof, the Issuer
will deliver to each Purchaser the Bonds to be purchased by such Purchaser in the form of a single Bond (or such greater number of Bonds in denominations of at least $250,000 as such Purchaser may request) dated the Closing Date and registered in
such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Issuer or its order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for
the account of the Issuer to account number              at The Bank of New York Mellon, 101 Barclay Street - 7W, New York, NY 10286, ABA# 021-000-018, account name: HASI SYB Tr 2015 1
Collection Acc. If on the Closing Date the Issuer shall fail to tender such Bonds to any Purchaser as provided above in this Section 2, or any of the conditions specified in Section 6 shall not have been fulfilled to such
Purchaser’s satisfaction or waived by such Purchaser, such Purchaser shall, at its election, be relieved of all further obligations under this Agreement without thereby waiving any rights such Purchaser may have by reason of any of the
conditions specified in Section 6 not having been fulfilled to such Purchaser’s satisfaction or such failure by the Issuer to tender such Bonds. Schedule 1 hereto sets forth the name of each Purchaser, its address, the principal
amount of Bonds being purchased by such Purchaser and the purchase price being paid therefor by wire transfer on the date hereof. 

Section 3. Representations, Warranties and Covenants of the Issuer. The Issuer represents, warrants, covenants and agrees
with each Purchaser that, as of the Closing Date: 
 (a) The Issuer is a statutory trust duly formed, organized and existing under the laws
of the state of Delaware and has the full legal right, power and authority to (i) adopt the resolutions authorizing the issuance of the Bonds, (ii) enter into the Transaction Documents (defined below) to which it is a party and to carry
out the terms thereof, (iii) issue, sell and deliver the Bonds to Purchasers as provided herein and (iv) carry out and consummate the transactions as to the Bonds on its part contemplated by the Transaction Documents to which it is a
party. 

 (b) All necessary official action has been taken by the Issuer with respect to, and the Issuer
has duly authorized and approved the adoption or execution and delivery by the Issuer of, and the performance by the Issuer of its obligations under, the Transaction Documents to which it is a party, and the related authorizing resolutions and such
authorizations and approvals are in full force and effect and have not been amended, modified or rescinded. The Bonds have been duly authorized by the Issuer and, when the Bonds are authenticated, delivered and paid for pursuant to this Agreement,
such Bonds will have been duly executed, authenticated, issued and delivered and will constitute valid and legally binding obligations of the Issuer entitled to the benefits provided by the Indenture, and enforceable in accordance with terms and
conditions therein, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting the enforcement of creditors rights in general, and except as such
enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). When executed and delivered by the Issuer, each of the Transaction Documents to which it is a party will constitute the legal, valid
and binding obligation of the Issuer enforceable in accordance with its terms, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting the enforcement of
creditors rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). 

(c) Assuming that the representations, warranties and covenants of each Purchaser contained in this Agreement are true and correct in all
material respects and have been and will be complied with in all material respects and that the Bonds are offered and sold in accordance with the final Private Placement Memorandum (including the Appendices thereto), dated as of September 29,
2015 (the “Final PPM”), and the applicable Transaction Documents (as defined below), no registration of the Bonds under the Securities Act is required for the offer, sale and delivery of the Bonds at the time and in the manner
contemplated by this Agreement and the Indenture. 
 (d) All of the representations and warranties made by the Issuer in the Transaction
Documents to which Issuer is a party are true and correct in all material respects as of the Closing Date. 
 Section 4.
Representations, Warranties and Covenants of the Depositor, made on behalf of the Issuer. The Depositor, on behalf of the Issuer, represents, warrants, covenants and agrees with each Purchaser that, on the Closing Date: 

(a) The Issuer is not in breach of or in default under any applicable constitutional provision, law or administrative rule or regulation, or
any agency or department, or its organizational or corporate documents, or any applicable judgment or decree or any trust agreement, loan agreement, indenture, bond, note, resolution, ordinance, agreement or other instrument to which the Issuer is a
party or to which the Issuer or any of its properties or other assets is otherwise subject, and no event has occurred and is continuing which, with the passage of time or the giving of notice, or both, would constitute a default or event of default
under any such instrument which breach, default or event could have an adverse effect on the Issuer’s ability to perform its obligations under the Transaction Documents; and, as of such times, the authorization, execution and delivery of the
Transaction Documents and compliance by the Issuer with the obligations on its part to be performed in each of such agreements or instruments does not and will not conflict with or constitute a breach of or default under any applicable
constitutional provision, law or administrative rule or regulation of the State of Delaware or the United States of America, or any agency or department of either, or the Issuer’s organizational documents, or any applicable judgment, decree,
license, permit, trust agreement, loan agreement, indenture, bond, note, resolution, ordinance, agreement or other instrument to which the Issuer (or any of its officers in their respective capacities as such) is subject, or by which it or any of
its properties is bound, nor will any such authorization, execution, delivery or compliance result in the creation or imposition of any lien, charge or other security interest or encumbrance of any nature whatsoever upon any of its assets or
properties or under the terms of any such law, regulation or instrument, except as may be provided by the Transaction Documents. 
 (b) The
Issuer, through its agent, Hannon Armstrong Capital, LLC, has delivered to each Purchaser a copy of the Final PPM (the Final PPM, together with the Transaction Documents, the “Offering 

  
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Materials”), relating to the securitization transaction contemplated by the Transaction Documents. The Offering Materials fairly describe, in all material respects, the general nature
of the business and principal assets of the LLE Subsidiaries of the Issuer. The Offering Materials, taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading. 
 (c) Schedule 2 hereto contains (except as noted therein)
a complete and correct list of all of the Issuer’s subsidiaries, showing, as to each Land Lease Entity, the name thereof, the jurisdiction of its organization, and the percentage of shares of each class of its capital stock or similar equity
interests outstanding owned by the Issuer and, as to the Issuer, the Issuer’s directors and senior officers. Each Land Lease Entity is wholly-owned directly by the Issuer. There are no outstanding contracts, options, warrants, instruments,
documents or agreements binding upon the Depositor or Issuer granting to any Person or group of Persons any right to purchase or acquire equity interests in any Land Lease Entity. 

(d) All of the outstanding equity interests of each Land Lease Entity shown in Schedule 2 hereto have been contributed and sold to the
Issuer, free and clear of any Lien other than Permitted Liens. 
 (e) There is no action, suit or proceeding at law or in equity, before or
by any court, government agency, public board or body (collectively and individually, an “Action”) pending with respect to which the Issuer has been served with process or, to the knowledge of the Issuer, threatened, which Action
(i) in any way questions the corporate existence of the Issuer or the titles of the officers of the Issuer to their respective offices, (ii) affects, contests or seeks to prohibit, restrain or enjoin any of the transactions contemplated by
the Transaction Documents, or the payment or collection of any amounts pledged or to be pledged to pay the principal of and interest on the Bonds, or in any way contests or affects the validity or enforceability of the Transaction Documents or the
consummation of the transactions on the part of the Issuer contemplated thereby, or (iii) may result in any material adverse change in the business, properties, other assets or financial condition of the Issuer; and as of the time of acceptance
hereof, to the knowledge of the Issuer, there is no basis for any action, suit or proceeding of the nature described in clauses (i) through (iii) of this sentence. 

(f) No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority required for the due
execution, delivery or performance by the Issuer of any Transaction Document to which it is a party remains unobtained or unfiled or unrecorded except such as may be required under state securities or blue sky laws in any jurisdiction in connection
with the purchase and sale of the Bonds by a Purchaser. All official action of the Issuer relating to the Transaction Documents taken as of the date hereof pertaining to the Bonds shall be in full force and effect and shall not have been amended,
modified or supplemented, except as may have been agreed to in writing by the Purchasers. The Issuer is in compliance in all material respects with the requirements of all applicable laws, rules, regulations, and orders of all Governmental
Authorities. 
 (g) The Issuer is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock,
and no proceeds from the transactions contemplated hereby, directly or indirectly, will be used for a purpose that violates, or would be inconsistent with, Regulations T, U and X promulgated by the Federal Reserve Board from time to time. As used in
this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 

(h) All Third-Party Diligence Reports are, as among the parties to this Agreement, deemed to have been obtained by the Issuer pursuant to Rule
15Ga-2 and Rule 17g-10 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and all legal obligations with respect to any such Third-Party Diligence Report have been timely complied with and will continue to be
timely complied with to the satisfaction of the Purchasers. “Third-Party Diligence Report” means any report generated by a third party with respect to due diligence services obtained by the Issuer or the Depositor within the meaning
of Rule 15Ga-2 and Rule 17g-10 of the Exchange Act. 
 (i) Neither of the Issuer nor the Depositor has requested (or caused any person to
request) any third party due diligence services, other than the third party due diligence services relating to the Third-Party Diligence Report(s) set forth on Schedule 3 hereto, each of which has been provided to Purchasers prior to the
furnishing or filing of such report or portion thereof with the U.S. Securities and Exchange Commission or on its 17g-5 website, as applicable. 

  
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 (j) (i) The Issuer is the owner of the membership interests contributed and sold to it by the
Depositor free and clear of all liens other than Permitted Liens. All assets included in the Trust Estate are free and clear of all Liens other than Permitted Liens. Any and all financing statements and other documents or instruments necessary to
perfect the Indenture Trustee’s Lien on the Trust Estate have been filed in each filing office necessary for such purpose, and all filing fees and taxes, if any, payable in connection with such filings have been paid in full; and 

(ii) The Indenture creates a valid Grant of a security interest to the Indenture Trustee for the benefit of the Bondholders in all right,
title and interest of the Issuer in the Trust Estate. To the extent the UCC does not apply to the perfection of such security interest, all notices, filings and other actions required by all applicable law have been taken to perfect such security
interest and lien in the assets of the Trust Estate subject to Permitted Liens. 
 (k) (i) The Issuer is not responsible for income or
franchise tax. 
 (ii) Immediately after giving effect to the initial purchase of the Bonds, the Issuer will be solvent. 

(l) The Issuer has no Indebtedness other than Indebtedness incurred pursuant to the Transaction Documents. 

(m) The Issuer has not agreed nor consented to cause or permit any of its property, whether now owned or hereafter acquired, to be subject to
a Lien or to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien other than Permitted Liens. 

(n) The Issuer is not an “investment company” required to register under the Investment Company Act of 1940, as amended. 

(o) Issuer is not (i) a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons published by the
Office of Foreign Assets Control, United States Department of the Treasury (“OFAC”) (an “OFAC Listed Person”) (ii) an agent, department, or instrumentality of, or is otherwise beneficially owned by, controlled
by or acting on behalf of, directly or indirectly, (x) any OFAC Listed Person or (y) any Person, entity, organization, foreign country or regime that is subject to any OFAC Sanctions Program, or (iii) otherwise blocked, subject to
sanctions under or engaged in any activity in violation of other United States economic sanctions, including but not limited to, the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Comprehensive Iran Sanctions,
Accountability and Divestment Act or any similar law or regulation with respect to Iran or any other country, the Sudan Accountability and Divestment Act, any OFAC Sanctions Program, or any economic sanctions regulations administered and enforced by
the United States or any enabling legislation or executive order relating to any of the foregoing (collectively, “U.S. Economic Sanctions”) (each OFAC Listed Person and each other Person, entity, organization and government of a
country described in clause (i), clause (ii) or clause (iii), a “Blocked Person”). Issuer has not been notified that its name appears or may in the future appear on a state list of Persons that engage in investment or other
commercial activities in Iran or any other country that is subject to U.S. Economic Sanctions. 
 (p) No part of the proceeds from the sale
of the Bonds hereunder constitutes or will constitute funds obtained on behalf of any Blocked Person or will otherwise be used by the Issuer, directly or indirectly, (i) in connection with any investment in, or any transactions or dealings
with, any Blocked Person, or (ii) otherwise in violation of U.S. Economic Sanctions. 
 (q) Issuer (i) has not been found in
violation of, charged with, or convicted of, money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes under the Currency and Foreign Transactions Reporting Act of 1970 (otherwise known as the Bank
Secrecy Act), the USA PATRIOT Act or any other United States law or regulation governing such activities (collectively, “Anti-Money Laundering Laws”) or any U.S. Economic Sanctions violations, (ii) to the Issuer’s
knowledge after making due 

  
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inquiry, is not under investigation by any Governmental Authority for possible violation of Anti-Money Laundering Laws or any U.S. Economic Sanctions violations, (iii) has not been assessed
civil penalties under any Anti-Money Laundering Laws or any U.S. Economic Sanctions, or (iv) has not had any of its funds seized or forfeited in an action under any Anti-Money Laundering Laws. The Issuer has established procedures and controls
which it reasonably believes are adequate (and otherwise comply with applicable law) to ensure that the Issuer is and will continue to be in compliance with all applicable current and future Anti-Money Laundering Laws and U.S. Economic Sanctions.

 (r) (a) Issuer (i) has not been charged with, or convicted of bribery or any other anti-corruption related activity under any
applicable law or regulation in a U.S. or any non-U.S. country or jurisdiction, including but not limited to, the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010 (collectively, “Anti-Corruption Laws”), (ii) to
the Issuer’s knowledge after making due inquiry, is not under investigation by any U.S. or non-U.S. Governmental Authority for possible violation of Anti-Corruption Laws, (iii) has not been assessed civil or criminal penalties under any
Anti-Corruption Laws or (iv) has been or is the target of sanctions imposed by the United Nations or the European Union; and (b) To the Issuer’s knowledge after making due inquiry, Issuer has not, within the last five years, directly
or indirectly offered, promised, given, paid or authorized the offer, promise, giving or payment of anything of value to a Governmental Authority official or a commercial counterparty for the purposes of: (i) influencing any act, decision or
failure to act by such Governmental Authority official in his or her official capacity or such commercial counterparty, (ii) inducing a Governmental Authority official to do or omit to do any act in violation of the Governmental Authority
official’s lawful duty, or (iii) inducing a Governmental Authority official or a commercial counterparty to use his or her influence with a government or instrumentality to affect any act or decision of such government or entity; in each
case in order to obtain, retain or direct business or to otherwise secure an improper advantage in violation of any applicable law or regulation or which would cause any holder to be in violation of any law or regulation applicable to such holder.

 (s) No part of the proceeds from the sale of the Bonds hereunder will be used, directly or indirectly, for any improper payments,
including bribes, to any Governmental Authority official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage. The Issuer has established procedures and controls which it reasonably believes are
adequate (and otherwise comply with applicable law) to ensure that the Issuer is and will continue to be in compliance with all applicable current and future Anti-Corruption Laws. 

(t) The principal corporate office of the Issuer where the Issuer’s records are kept (unless then held by the Indenture Trustee) is care
of the Owner Trustee at the Corporate Trust Office (as defined in the Trust Agreement). 
 (u) No proceeds of any Bonds will be used by the
Issuer to acquire any security in any transaction which is subject to Sections 13 or 14 of the Exchange Act. 
 (v) All of the
representations and warranties made by the Depositor, herein, on behalf of the Issuer, are true and correct in all material respects. 

Section 5. Representations, Warranties and Covenants of Purchasers. Each Purchaser represents and warrants to, and agrees
with the Issuer, on the Closing Date, that: 
 (a) Each Purchaser has the requisite power and authority to execute and deliver this
Agreement, and to purchase the Bonds in accordance herewith, has duly authorized such execution, delivery and purchase, and has duly executed and delivered this Agreement. 

(b) Each Purchaser is acquiring the Bonds as principal for its own account (or for one or more accounts each holder of which is both a
Qualified Purchaser (defined below) and an Institutional Accredited Investor (defined below), and with respect to which accounts such Purchaser has sole investment discretion) for investment and not for sale in connection with any distribution
thereof. 

  
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 (c) Each Purchaser understands that the Bonds have not been and will not be registered under the
Securities Act, and, if in the future it decides to offer, resell, pledge or otherwise transfer the Bonds, such Bonds may be offered, resold, pledged or otherwise transferred only in accordance with applicable state and federal securities laws, the
provisions of the Indenture and the legends on such Bonds, including without limitation the requirement for written certifications. In particular, it understands that the Bonds may be transferred only to a person that is a Qualified Purchaser (as
defined below), with respect to the Issuer and an Institutional Accredited Investor (defined below). It acknowledges that no representation is made as to the availability of any exemption under the Securities Act or any state securities laws for
resale of the Bonds. 
 (d) In connection with its purchase of the Bonds, each Purchaser has received the Offering Materials. 

(e) Each Purchaser has a properly completed and signed Internal Revenue Service Form W-9, Form W-8BEN, W-8BEN-E, W-ECI, or W-8IMY, as
applicable (or applicable successor form) and delivered it to the Issuer and the Indenture Trustee. By the purchase of the Bonds or its acceptance of a beneficial interest therein, each Purchaser acknowledges that interest on the Bonds will be
treated as United States source interest, and, as such, United States withholding tax may apply. 
 (f) Each Purchaser is a “qualified
purchaser” as defined in Section 2(a)(51) of the Investment Company Act of 1940 (“Qualified Purchaser”) and an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities
Act (“Institutional Accredited Investor”). 
 (g) Each Purchaser severally represents and warrants that the funds being
used to pay the purchase price for the Bonds are not “plan assets” of one or more “Benefit Plan Investors” (as defined in United States Department of Labor Regulation Section 2510.3-101(f)(2)), and that Purchaser’s
acquisition, holding and disposition of the Bonds does not and will not constitute or give rise to a non-exempt prohibited transaction under ERISA, Section 4975 of the Internal Revenue Code or any similar law of any jurisdiction. 

Section 6. Conditions Precedent. The performance by the parties hereto of their respective obligations hereunder are
(unless waived in writing by the party or parties for which such condition is included herein) subject to the satisfaction of the following conditions precedent: 

(a) all representations and warranties made by the Issuer and Depositor herein are, as of the Closing Date, true and correct in all material
respects; 
 (b) all representations and warranties made by the respective Purchasers herein are, as of the Closing Date, true and correct
in all material respects; 
 (c) each Purchaser shall have tendered payment of the purchase price for the Bonds in accordance with
Section 2; 
 (d) payment shall have been tendered for the Class B Bonds pursuant to the Bond Purchase Agreement for the Class B
Bonds; 
 (e) on the Closing Date, each of the following documents and instruments (the “Transaction Documents”) shall have
been duly authorized, executed and delivered in form and substance satisfactory to the Purchasers and, with respect to the Bonds, authenticated by the parties thereto, and shall be in full force and effect and no default shall exist thereunder: 

 

	 	(i)	this Agreement; 

  

	 	(ii)	the Indenture; 

  

	 	(iii)	the Contribution and Sale Agreement; 

  
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	 	(iv)	the Bonds; 

  

	 	(v)	the Class B Bond Purchase Agreement; 

  

	 	(vi)	the LLE Collateral Assignment; 

  

	 	(vii)	the Administration Agreement; 

  

	 	(viii)	the Direction Letters; and 

  

	 	(ix)	the HASI Indemnity. 

 (f) Each Purchaser shall have received opinions in form and substance
satisfactory to such Purchaser, dated the date hereof from both (a) in house counsel and (b) outside counsel to the applicable parties to the Transaction Documents, covering the matters set forth in Exhibit A and covering such other
matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request. 
 (g) the Bonds shall not
have received a lower rating by the Rating Agency than that upon which the Bonds were marketed; 
 (h) each of the conditions precedent to
the sale of the Bonds shall have been satisfied; 
 (i) The Issuer shall have performed and complied with all agreements and conditions
contained in this Agreement required to be performed or complied with by it prior to or on the Closing Date. Before and after giving effect to the issue and sale of the Bonds (and the application of the proceeds thereof as contemplated by
Section 16), no Default or Event of Default shall have occurred and be continuing. 
 (j) The Issuer shall have delivered to
each Purchaser a certificate, dated the date hereof, certifying that the conditions specified in this Section (other than clauses (b), (c), (d), (k), (n) and (p), have been fulfilled. 

(k) The Issuer shall have delivered to each Purchaser a certificate, dated the date hereof, certifying as to (i) the resolutions attached
thereto and other trust proceedings relating to the authorization, execution and delivery of the Bonds, this Agreement and the Indenture and (ii) the Issuer’s organizational documents as then in effect. 

(l) On the Closing Date each Purchaser’s purchase of Bonds shall (a) be permitted by the laws and regulations of each jurisdiction
to which such Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment,
(b) not violate any applicable law or regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or liability under or
pursuant to any applicable law or regulation, which law or regulation was not in effect on the date hereof. If requested by a Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such
Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted. 
 (m) a private placement
number issued by CUSIP service bureau shall have been obtained for the Class A Bonds; 
 (n) The Issuer or Depositor, on behalf of the
Issuer, shall have paid on the Closing Date the reasonable fees, charges and disbursements of the Purchasers’ counsel to the extent reflected in a statement of such counsel rendered to the Issuer at least one Business Day prior to the Closing
Date, as contemplated in Section 8 hereof; 
 (o) Purchasers shall be reasonably satisfied with their due diligence review; 

  
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 (p) The certificates evidencing the Membership Interests along with a stock power, executed in
blank, shall have been delivered to the Indenture Trustee; 
 (q) Each Lessee in a Standard Lease Transaction which does not require such
Lessee’s consent to the collateral assignment of the related lease shall have been sent a notice of the collateral assignment of the related Land Lease Entity’s rights thereunder to the Indenture Trustee pursuant to the LLE Collateral
Assignment; 
 (r) Payment directions letters shall have been sent to the Lessees or Operators instructing them to make payments to the
Servicer Account; 
 (s) A deposit account control agreement with Citizens as depository covering the Servicer Account has been executed by
all parties thereto and delivered to the Indenture Trustee; 
 (t) Purchasers shall have received each of the items listed on Exhibit
B hereto (and not otherwise delivered pursuant to clauses (a) through (s) of this Section 6), each of which items shall be dated the Closing Date except as otherwise noted and in form and substance mutually agreed upon by
Purchasers and Issuer (and their respective counsel); and 
 (u) All corporate and other proceedings in connection with the transactions
contemplated by this Agreement and all documents and instruments incident to such transactions shall be satisfactory to each Purchaser and its special counsel, and such Purchaser and its special counsel shall have received all such counterpart
originals or certified or other copies of such documents as such Purchaser or such special counsel may reasonably request. 

Section 7. Limited Recourse. The obligations of the Issuer under this Agreement (including, without limitation, any claims
arising under this Agreement) shall be limited in recourse to the proceeds of the Trust Estate (as defined in and applied in accordance with the Indenture) and to the extent such proceeds are insufficient to meet the obligations of the Issuer under
this Agreement in full, the Issuer shall have no further liability and any outstanding obligations of the Issuer and all claims against the Issuer shall be extinguished. Following the Closing Date, all payments under this Agreement are subject to
the Priority of Payments as specified in Section 3.07 of the Indenture. The obligations of the Issuer and the respective Purchasers under this Agreement shall be solely the obligations of the Issuer and the respective Purchaser, respectively,
and no such Person shall have any recourse with respect to such obligations to any other Person, including without limitation the directors, officers, managers, shareholders, incorporators, partners, members, settlors, trustees or affiliates of the
other party hereto with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with the transactions contemplated hereby. This Section 7 shall survive any termination of this Agreement. 

Section 8. Transaction Expenses. Whether or not the transaction contemplated hereby is consummated, the Issuer or
Depositor, on behalf of the Issuer, will pay all reasonable third party costs and expenses (including attorneys’ fees of a special counsel retained by the Purchasers in connection with the negotiation of this Agreement and the other Transaction
Documents and the closing of the transaction contemplated by the Transaction Documents). 
 Section 9. SURVIVAL OF
REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. All representations and warranties contained herein are as of the Closing Date and shall survive the execution and delivery of this Agreement and the issuance of Bonds contemplated hereby. This
Agreement, the Bonds and the other Transaction Document embody the entire agreement and understanding between each Purchaser and the Issuer and supersede all prior agreements and understandings relating to the subject matter hereof. 

Section 10. Notice. All communications provided for or permitted hereunder shall be in writing and shall be deemed to have
been duly given if personally delivered, sent by overnight courier or mailed by registered mail, postage prepaid and return receipt requested, or transmitted by telex, telegraph or telecopier and confirmed by a similar mailed writing, if to a
Purchaser, addressed to such Purchaser at the address set forth on Schedule 1 hereto, or to such other address as such Purchaser may designate in writing to the Issuer, and if to the Issuer, addressed to the Issuer at the address set forth on
Schedule 1 hereto, or to such other address as the Issuer may designate in writing to the Purchasers. 

  
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 Section 11. Successors. This Agreement (a) shall inure to the benefit of
and shall be binding upon the Issuer, the Purchasers and their respective successors and assigns and (b) shall inure to the benefit of the Indenture Trustee. The Indenture Trustee (x) is intended as, and shall be, a third-party beneficiary
of the Issuer under this Agreement and (y) shall be entitled to enforce its rights, remedies and claims hereunder directly against the other parties as though it were a signatory of this Agreement, but shall not be deemed to have, or to have
assumed, any obligation or liability hereunder; provided, however, that notwithstanding anything contained herein to the contrary, the Issuer may not assign any of its rights or delegate any of its duties hereunder or under any of the other
Transaction Documents to which it is a party except as permitted pursuant to the terms thereof. Nothing expressed herein is intended or shall be construed to give any person (other than the persons referred to in the preceding two sentences, in each
case, to the extent provided therein or elsewhere in this Agreement) any legal or equitable right, remedy or claim under or in respect of this Agreement or any other agreement or instrument or against any party hereto or thereto or beneficiary
hereof or thereof. 
 Section 12. Applicable Law; Submission to Jurisdiction, Etc. 

(a) This Agreement shall be governed by, and construed in accordance with, and all matters arising out of or in any way related to this
Agreement (whether in contract, tort or otherwise), shall be governed by, the law of the State of New York without regard to conflict of laws rules. 

(b) Each party hereto hereby irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the
Borough of Manhattan in The City of New York in any action or proceeding arising out of or relating to this Agreement, and each party hereto hereby irrevocably agrees that all claims in respect of such action or proceeding may be heard and
determined in such New York State or federal court. Each party hereto hereby irrevocably waives, to the fullest extent that it may legally do so, the defense of an inconvenient forum to the maintenance of such action or proceeding. Each party hereto
irrevocably consents to the service of any and all process in any action or proceeding by the mailing or delivery of copies of such process to it at such party’s address set forth on Schedule 1 hereto. Each party hereto agrees that a
final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

(c) EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 13. Amendments. No amendment, modification,
supplement, or waiver of any provision of this Agreement shall in any event be effective unless the same shall be in writing and signed by the Issuer and the Purchasers. 

Section 14. Severability of Provisions. Any covenant, provision, agreement or term of this Agreement that is prohibited or
is held to be void or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability, without in any way invalidating, affecting or impairing the remaining provisions hereof.

 Section 15. Counterparts. This Agreement may be executed in any number of counterparts, and by each party hereto in
several counterparts, each of which counterpart when so executed shall be deemed to be an original, and all such counterparts together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page of this
Agreement by telecopier, facsimile or by electronic portable document format (“pdf”) shall be as effective as delivery of a manually executed counterpart of this Agreement. 

Section 16. Use of Proceeds. The Issuer shall use the proceeds of the Bonds to (i) pay the costs related to the
issuance of the Bonds and the Class B Bonds and (ii) acquire the equity interests in the Land Lease Entities. 

  
 9 

 Section 17. Owner Trustee. It is expressly understood and agreed by the
parties hereto that (a) this Bond Purchase Agreement is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and
vested in it pursuant to the Trust Agreement, (b) each of the representations, undertakings and agreements herein made by the Issuer is made and intended not as personal representations, undertakings and agreements by BNY Mellon Trust of
Delaware but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any covenant either
expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall BNY Mellon Trust of Delaware
be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Bond Purchase Agreement or
any other related documents. 
 If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to us the
enclosed duplicate hereof, whereupon this Agreement will become a binding agreement between the undersigned in accordance with its terms. 

[Signature Pages Follow.] 

  
 10 

 
											
	Very truly yours,
		
		 	HASI SYB TRUST 2015-1,
		 		 	 a Delaware statutory trust,
 as
Issuer

				
		 		 	By:	 	BNY MELLON TRUST OF DELAWARE,
		 		 		 	not in its individual capacity, but solely as
		 		 		 	Owner Trustee
					
		 		 		 	By	 	 /s/ JoAnn C. DiOssi

		 		 		 		 	Name:	 	JoAnn C. DiOssi
		 		 		 		 	Title:	 	Vice President
		
		 	HA LAND LEASE HOLDINGS, LLC
		 		 	 a Delaware limited liability company,

as Depositor

					
		 		 		 	By	 	 /s/ Jeffrey W. Eckel

		 		 		 		 	Name:	 	Jeffrey W. Eckel
		 		 		 		 	Title:	 	President and Chief Executive Officer

 The foregoing Bond Purchase Agreement is hereby confirmed and accepted: 

 

					
	[ REDACTED ],
	as Purchaser
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 [ REDACTED ],
 as
Purchaser

		
	By:	 	[ REDACTED ],
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 [ REDACTED ],
 as
Purchaser

		
	By:	 	[ REDACTED ],
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 SCHEDULE 1 
  

	1.	Purchasers 

  

	2.	Issuer 

  

	3.	Depositor 

 SCHEDULE 2 
  

	 	1.	Issuer Subsidiaries 

  

	 	2.	Issuer Directors and Senior Officers 

 SCHEDULE 3 

Third Party Diligence Reports 

 EXHIBIT A 

Opinions 

 EXHIBIT B 

Excerpts from Closing ChecklistEX-10.6

 Exhibit 10.6 

Execution Copy 

CONTRIBUTION AND SALE AGREEMENT 

by and between 
 HASI
SYB TRUST 2015-1 
 as Purchaser 

and 
 HA LAND LEASE
HOLDINGS LLC 
 as Seller 

Dated as of September 30, 2015 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 ARTICLE I. DEFINITIONS
	  	 	1	  
	 Section 1.01.
	  	 Definitions
	  	 	1	  
	 Section 1.02.
	  	 Other Definitional Provisions
	  	 	5	  
		
	 ARTICLE II. CONVEYANCE OF MEMBERSHIP INTERESTS
	  	 	6	  
	 Section 2.01.
	  	 Conveyance of Membership Interests
	  	 	6	  
	 Section 2.02.
	  	 Further Assurances
	  	 	6	  
		
	 ARTICLE III. REPRESENTATIONS AND WARRANTIES OF SELLER
	  	 	7	  
	 Section 3.01.
	  	 Organization and Good Standing
	  	 	7	  
	 Section 3.02.
	  	 Due Qualification
	  	 	7	  
	 Section 3.03.
	  	 Power and Authority
	  	 	7	  
	 Section 3.04.
	  	 Binding Obligation
	  	 	7	  
	 Section 3.05.
	  	 No Violation
	  	 	7	  
	 Section 3.06.
	  	 No Proceedings
	  	 	8	  
	 Section 3.07.
	  	 Approvals
	  	 	8	  
	 Section 3.08.
	  	 Membership Interests
	  	 	8	  
	 Section 3.09.
	  	 Indebtedness
	  	 	9	  
	 Section 3.10.
	  	 Principal Place of Business
	  	 	9	  
	 Section 3.11.
	  	 Title
	  	 	9	  
	 Section 3.12.
	  	 Solvency
	  	 	9	  
	 Section 3.13.
	  	 Land Lease Entities and Land Lease Assets
	  	 	9	  
		
	 ARTICLE IV. COVENANTS OF THE SELLER
	  	 	13	  
	 Section 4.01.
	  	 Corporate Existence
	  	 	13	  
	 Section 4.02.
	  	 Delivery of Payments
	  	 	14	  
	 Section 4.03.
	  	 Notice of Liens
	  	 	14	  
	 Section 4.04.
	  	 Compliance with Law
	  	 	14	  
	 Section 4.05.
	  	 Covenants Related to Bonds, Membership Interests
	  	 	14	  
	 Section 4.06.
	  	 Protection of Title
	  	 	15	  
	 Section 4.07.
	  	 Nonpetition Covenant
	  	 	15	  
	 Section 4.08.
	  	 Certain Limitations
	  	 	15	  
		
	 ARTICLE V. LIABILITY OF THE SELLER
	  	 	15	  
	 Section 5.01.
	  	 Liability of Seller; Indemnities
	  	 	15	  
	 Section 5.02.
	  	 Limitation on Liability of Seller and Others
	  	 	17	  
		
	 ARTICLE VI. REPURCHASE OBLIGATION
	  	 	17	  
	 Section 6.01.
	  	 Repurchase Obligation
	  	 	17	  
		
	 ARTICLE VII. MISCELLANEOUS PROVISIONS
	  	 	18	  
	 Section 7.01.
	  	 Amendment
	  	 	18	  
	 Section 7.02.
	  	 Notices
	  	 	19	  
	 Section 7.03.
	  	 Assignment
	  	 	20	  
	 Section 7.04.
	  	 Limitations on Rights of Third Parties
	  	 	20	  
	 Section 7.05.
	  	 Severability
	  	 	20	  
	 Section 7.06.
	  	 Separate Counterparts
	  	 	20	  
	 Section 7.07.
	  	 Headings
	  	 	20	  
	 Section 7.08.
	  	 Governing Law
	  	 	20	  
	 Section 7.09.
	  	 Collateral Assignment to Indenture Trustee
	  	 	20	  

  
 2 

			
	SCHEDULES	  	
		
	SCHEDULE 3.01	  	Seller Directors and Senior Officers
		
	SCHEDULE 3.06	  	Legal Proceedings
		
	SCHEDULE 3.10	  	Seller Principal Place of Business
		
	SCHEDULE 3.13(c)	  	Taxes
		
	SCHEDULE 3.13(d)	  	Land Lease Entities
		
	SCHEDULE 3.13(e)(i)	  	Land Lease Asset Documents and Title Policies/Surveys for Project Properties
		
	SCHEDULE 3.13(e)(i)(A)	  	Project Properties for which Title Policies and/or Surveys were not listed in Schedule 3.13(e)(i)
		
	SCHEDULE 3.13(e)(ii)	  	Breaches under Land Lease Asset Documents
		
	SCHEDULE 3.13(f)(i)	  	List of Estates/Interests in Project Property Owned or Held by each Land Lease Entity
		
	SCHEDULE 3.13(f)(ii)	  	Options/ROFOs/Other Rights Granted with respect to Project Properties
		
	SCHEDULE 3.13(i)	  	Certain Hybrid Lease Transactions
		
	EXHIBITS	  	
		
	EXHIBIT A	  	Data Tape
		
	EXHIBIT B	  	Financial Model
		
	EXHIBIT C	  	Form of Lessee Payment Direction Notice

  
 3 

 This CONTRIBUTION AND SALE AGREEMENT, dated as of September 30, 2015, is entered into by and
between HASI SYB TRUST 2015-1, a Delaware statutory trust (the “Purchaser” or “Issuer”), and HA LAND LEASE HOLDINGS LLC, a Delaware limited liability company (together with its successors in interest to the extent
permitted hereunder, the “Seller”). 
 RECITALS 

WHEREAS, the Purchaser desires to purchase the Membership Interests (as defined herein) from Seller, on the terms and subject to conditions
set forth herein; and 
 WHEREAS, the Seller is willing to sell and assign the Membership Interests to the Purchaser, on the terms and
subject to conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the
parties hereto agree as follows: 
 ARTICLE I. DEFINITIONS 

Section 1.01. Definitions. Whenever used in this Agreement, the following words and phrases shall have the following meanings:

 “Action” has the meaning specified in Section 3.06. 

“Agreement” means this Contribution and Sale Agreement, as amended and supplemented from time to time. 

“Back-Up Security Interest” has the meaning specified in Section 2.01. 

“Charter Documents” means with respect to any Person, (a) to the extent such Person is a corporation, the certificate or
articles of incorporation and the by-laws of such Person, (b) to the extent such Person is a limited liability company, the certificate of formation or articles of formation or organization and operating or limited liability company agreement
of such Person and (c) to the extent such Person is a partnership, joint venture, trust or other form of business, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing
or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or
organization or formation of such Person. 
 “Claim” means any demand, claim, action, investigation, legal proceeding or
arbitration. 
 “Data Tape” means the AWCC Data Tape, prepared by or on behalf of the Seller and attached hereto as
Exhibit A. 
 “Date of Breach” means with respect to the Repurchase Obligation, the date of the occurrence of the
related Material Breach that triggers such Repurchase Obligation. To the extent a Material Breach is based on two or more cumulative breaches, the Date of Breach will be the date of the last breach giving rise to a Material Breach. 

  
 1 

 “Environmental Law” means any Law concerning pollution or protection of the
environment, natural resources or exposure to Hazardous Material, including those Laws relating to the presence, use, generation, handling, transportation, treatment, storage, disposal, distribution, labeling, testing, processing, discharge,
release, threatened release, control or cleanup of Hazardous Material. 
 “Grant” means mortgage, pledge, collaterally
assign and grant a lien upon and a security interest in. A Grant of any agreement or instrument shall include all rights, powers and options (but none of the obligations) of the Granting Person thereunder, the immediate and continuing right to claim
for, collect, receive and give receipts for payments in respect of and all other monies payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring
proceedings in the name of the Granting Person or otherwise, and generally to do and receive anything that the Granting Person is or may be entitled to do or receive thereunder with respect thereto. 

“Governmental Authority” means any court, tribunal, arbitrator, authority, agency, commission, official or other
instrumentality of the United States, any foreign country or any domestic or foreign state, county, city or other political subdivision or similar governing entity. 

“HASI” means Hannon Armstrong Sustainable Infrastructure Capital, Inc., a Maryland corporation, and its successors and
permitted assigns. 
 “HASI Indemnity Agreement” means the Indemnity Agreement, dated as of September 30, 2015, made
by HASI in favor of the Indenture Trustee for the benefit of the Bondholders, as such agreement may be amended, supplemented, restated or otherwise modified from time to time with the prior written consent of the Required Bondholders. 

“Hazardous Material” means any petroleum or petroleum products, flammable explosives, radioactive materials, asbestos,
asbestos containing materials, polychlorinated biphenyls, and any chemicals or other materials or substances which are defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous
materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “toxic substances,” “toxic pollutants” or words of similar import under any Environmental Law. 

“Hybrid Lease Transaction” means a transaction where a Land Lease Entity does not own fee title to the Project Property upon
which a Project has been developed or is being developed (except, in most cases, a nominal tenancy-in-common in such Project Property), but instead holds a leasehold, easement, royalty or other interest in a Project Property, and the correlative
payment rights deriving directly or indirectly from the related Operator. 
 “Indemnified Person” has the meaning specified
in Section 5.01(c). 
 “Indenture” means the Indenture, dated as of September 30, 2015, by and among the
Issuer, the Servicer, the Backup Servicer and the Indenture Trustee, as amended and supplemented from time to time. 

  
 2 

 “Issuer” has the meaning set forth in the preamble of this Agreement. 

“Knowledge of Seller” means the actual knowledge (as opposed to any constructive, imputed or similar concept of knowledge) of
any officer of Seller, after having made due inquiry given the circumstances. 
 “Land Lease Asset” means any fee,
easement, leasehold or other real property interest and any royalty, equity or other interest, including payment rights derived from a Project Property and all related Land Lease Asset Documents, and all rents, revenues, royalties and proceeds
derived therefrom, owned or held by a Land Lease Entity. 
 “Land Lease Asset Documents” means, with respect to any Land
Lease Asset, (i) with respect to any Standard Lease Transaction, the ground lease entered into between the related Lessee and the related Land Lease Entity that is the Lessor thereunder in connection with such transaction and (ii) with
respect to any Hybrid Lease Transaction, the royalty agreement, lease assignment agreement or other related agreements entered into between the related Lessee and the related Land Lease Entity that is the Lessor thereunder in connection with such
transaction. 
 “Land Lease Entities” means those certain direct subsidiaries of Seller who own certain Land Lease Assets
and/or who hold or have rights under certain Land Lease Asset Documents. A “Land Lease Entity” is any one of the Land Lease Entities. A complete list of all Land Lease Entities is set forth in Schedule 3.13(d). 

“Laws” means all laws, statutes, rules, regulations, ordinances, common law, judgments, decrees, orders or any requirements
of any Governmental Authority, each as the foregoing may be amended or supplemented from time to time. 
 “Lessee” means,
with respect to any Land Lease Asset, the lessee, grantee or, in certain limited cases, the Operator under the applicable Land Lease Asset Documents. 

“Lessor” with respect to any Land Lease Asset, the lessor, grantor or, in certain limited cases, the royalty assignee or
other payee under the applicable Land Lease Asset Documents, each of which is a Land Lease Entity. 
 “Losses” has the
meaning specified in Section 5.01(c). 
 “Material Adverse Effect”, with respect to a specified Person or
Persons, means any change or changes after the date of this Agreement that is, or in the aggregate are, materially adverse to the business, results of operations, assets, revenues, or financial condition of such Person or Persons, taken as a whole,
other than (i) any change in conditions affecting any of the industries or markets in which any such entity operates, including the commercial real estate industry, the renewable power generation industry, or the United States economy
generally; (ii) any change resulting from acts of terrorism, acts of war or the escalation of hostilities; (iii) any change in interest rates or financial, banking or securities markets (including any disruption thereof and any decline in
the price of any security or any market index); (iv) any change in GAAP; (v) any change in any Law after the date hereof; (vi) any action taken by a party hereto in accordance with this Agreement; (vii) the ability of the
Purchaser to perform its obligations under this 

  
 3 

 
Agreement; and (viii) any existing event, occurrence, or circumstance with respect to which the Purchaser has knowledge as of the date hereof. The completion of the transactions contemplated
by this Agreement shall not be taken into account in determining whether a Material Adverse Effect has occurred or would reasonably be expected to occur. 

“Material Breach” means a breach by Seller of any one or more (on a cumulative basis) representations and warranties (without
regard to any knowledge qualifications set forth therein) set forth in Section 3.13 hereof that results in a material adverse effect on a particular Land Lease Asset, each on an individual basis. 

“Membership Interests” has the meaning specified in Section 2.01. 

“Model” means the financial model set forth in Exhibit B. 

“Officer’s Certificate” means a certificate signed by an authorized officer of the Seller. 

“Operator” means the owner/operator of a Project related to a Hybrid Lease Transaction. 

“Opinion of Counsel” means one or more written opinions of counsel who may be an employee of or counsel to the party
providing such opinion of counsel, which counsel shall be reasonably acceptable to the party receiving such opinion of counsel. 

“Permitted Liens” means any of the following: (i) statutory Liens of carriers, warehousemen, mechanics, repairmen,
workmen and materialmen, and other similar Liens imposed by law, in each case incurred in the ordinary course of business (x) for amounts not yet overdue or (y) for amounts that are overdue, if being contested in good faith by appropriate
proceedings, provided that Seller (1) in good faith contests or disputes the claim or claims of the lienholder and the validity of such Lien, (2) promptly commences appropriate action to remove such Lien and (3) furnishes to Purchaser
a bond or other acceptable security in an amount sufficient to discharge all such contested Liens; (ii) Liens for taxes if obligations with respect to such taxes are being contested in good faith by appropriate proceedings, provided that Seller
(1) in good faith contests or disputes the claim or claims of the lienholder and the validity of such Lien, (2) promptly commences appropriate action to remove such Lien and (3) furnishes to Purchaser a bond or other acceptable
security in an amount sufficient to discharge all such contested Liens; (iii) Liens incurred in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of social security, or to
secure the performance of tenders, statutory obligations, surety and appeal bonds, bids, leases, government contracts, trade contracts, performance and return-of-money bonds and other similar obligations (exclusive of obligations for the payment of
borrowed money or other indebtedness), so long as no foreclosure, sale or similar proceedings have been commenced with respect to any portion of the Project Property or the Land Lease Asset Documents; (iv) easements (including utility easements
and similar accommodations and environmental conservation easements), leases, rights-of-way, restrictions, encroachments, and defects or irregularities in title, in each case which do not and will not interfere in any material respect with the
ordinary conduct of operations of the Project or otherwise result in a breach or default under the Land Lease Asset Documents; (v) any zoning or similar law or right reserved to or vested in any governmental office or agency to control or
regulate the use of any real property; (vi) any options, repurchase rights or similar rights granted to any Lessor’s counterparties under any Land Lease Asset Documents; and (vii) any Liens Granted pursuant to the Transaction
Documents. 

  
 4 

 “Project” means a solar or wind energy generation facility developed,
constructed and operated on the Project Property. 
 “Project Property” means the real property upon which a Project has
been or is being constructed and is or will be operated pursuant to the terms of the applicable Land Lease Asset Documents. 

“Purchaser” has the meaning set forth in the preamble of this Agreement. 

“Rating Agency” means KBRA. 

“Repurchase Date” means the date that is sixty (60) days after the Date of Breach. 

“Repurchase Obligation” has the meaning specified in Section 6.01(a). 

“Repurchase Price” has the meaning specified in Section 6.01(a). 

“Seller” has the meaning set forth in the preamble of this Agreement. 

“Standard Lease Transaction” means a transaction where a Land Lease Entity owns fee title to the Project Property and leases
the Project Property to a Lessee pursuant to a long-term ground lease or similar Land Lease Asset Document. 
 “Tax” means
any federal, state, local or foreign taxes, and other assessments of a similar nature, together with any interest, penalties, additions to tax or additional amounts imposed with respect thereto, in each case imposed by a Governmental Authority,
including all income, gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, customs duties, capital stock, ad valorem, value added, inventory, franchise, profits, withholding, social security
(or similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, alternative or add-on minimum or estimated taxes. 

“Tax Return” means any return, declaration, report, statement or other document filed or required to be filed with a
Governmental Authority in connection with the assessment or collection of any Tax, together with any schedule or attachment thereto and any amendment thereof. 

“UCC” means the Uniform Commercial Code (or any comparable law) in effect in any relevant jurisdiction the laws of which
govern the perfection of security interests rendered hereunder. 
 Section 1.02. Other Definitional Provisions. 

(a) Unless otherwise defined herein, terms defined in the Indenture and used herein shall have the meanings specified in the Indenture. 

  
 5 

 (b) All capitalized terms used in any certificate or other document made or delivered pursuant
hereto shall have the respective meanings specified herein, unless otherwise defined therein. 
 (c) The words “hereof,”
“herein,” “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; Section, Schedule and Exhibit references contained in
this Agreement are references to Sections, Schedules and Exhibits in or to this Agreement unless otherwise specified; the conjunction “or” is not exclusive; and the term “including” shall mean “including without
limitation”. 
 (d) The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such
terms. 
 ARTICLE II. CONVEYANCE OF MEMBERSHIP INTERESTS 

Section 2.01. Conveyance of Membership Interests. In consideration of the Purchaser’s delivery to or upon the order of the
Seller of the fair market value of the Membership Interests as of the Closing Date, the Seller does hereby irrevocably sell, transfer, assign, set over and otherwise convey to the Purchaser, WITHOUT RECOURSE OR WARRANTY, except as specifically set
forth herein, all right, title and interest of the Seller in and to the membership interests in each Land Lease Entity (collectively, the “Membership Interests”). Such sale, transfer, assignment, setting over and conveyance is
hereby expressly stated to be a sale and, shall be treated as an absolute transfer and true sale of all of the Seller’s right, title and interest in and to (as in a true sale), and not as a pledge or secured transaction relating to, or other
financing of, the Membership Interests. To the extent that the cash purchase price paid to the Seller for the Membership Interests is less than the fair market value of the Membership Interests as of the Closing Date, the difference will be deemed
to be a capital contribution made by the Seller to the Purchaser. If the transfer of the Membership Interests is held by any court of competent jurisdiction not to be a true sale or contribution, then such transfer shall be treated as the creation
of a security interest in the Membership Interests and, without prejudice to its position that it has absolutely transferred all of its right, title and interest in and to the Membership Interests to the Purchaser, the Seller hereby Grants to the
Purchaser a first priority security interest in the Membership Interests to secure a payment obligation incurred by the Seller in respect of the amount paid by the Purchaser to the Seller pursuant to this Agreement (the “Back-Up Security
Interest”). A UCC-1 financing statement will be filed in order to perfect the Back-Up Security Interest. Such transfer of the Membership Interests includes the right to use the Seller’s computer software system to access and create
copies of all books and records related to the Membership Interests. 
 Section 2.02. Further Assurances. 

(a) Promptly upon the request of Purchaser, Seller shall without further consideration execute and deliver such other instruments of sale,
transfer, conveyance and assignment, and take such other action as may be reasonably necessary to vest in Purchaser, and its successors and assigns, good, clear and merchantable title to the Membership Interests. 

  
 6 

 (b) If, notwithstanding the notice provided in Section 4.02, any amounts due with
respect to Membership Interests are paid to Seller other than to the account specified in Section 4.03, then Seller shall immediately deposit such amounts into the account specified in Section 4.03. 

(c) Seller (or Servicer, on behalf of Seller, as applicable) shall promptly provide Purchaser with copies of all notices, correspondences,
demands, complaints and reports provided by the Lessee under the Land Lease Asset Documents, including computations of any amounts due with respect to Membership Interests and supporting documentation in respect thereof. 

ARTICLE III. REPRESENTATIONS AND WARRANTIES OF SELLER 

The Seller makes the following representations and warranties, as of the date hereof, on which the Purchaser has relied in acquiring the
Membership Interests. 
 Section 3.01. Organization and Good Standing. The Seller is duly organized and validly existing as a
limited liability company in good standing under the laws of the State of Delaware, with the requisite limited liability company power and authority to own its properties as such properties are currently owned and to conduct its business as such
business is now conducted by it, and has the requisite limited liability company power and authority to own the Membership Interests. Schedule 3.01 lists the Seller’s current directors and senior officers as of the date hereof. 

Section 3.02. Due Qualification. The Seller is duly qualified to do business as a foreign limited liability company in good
standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications, licenses or approvals (except where the failure to so
qualify or obtain such licenses and approvals would not be reasonably likely to have a Material Adverse Effect with respect to the Seller). 

Section 3.03. Power and Authority. The Seller has the requisite limited liability company power and authority to execute and
deliver this Agreement and to carry out its terms; and the execution, delivery and performance of this Agreement have been duly authorized by all necessary limited liability company action on the part of the Seller. 

Section 3.04. Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of the Seller enforceable
against it in accordance with its terms, subject to applicable insolvency, reorganization, moratorium, fraudulent transfer and other Laws relating to or affecting creditors’ or secured parties’ rights generally from time to time in effect
and to general principles of equity (including concepts of materiality, reasonableness, good faith and fair dealing), regardless of whether considered in a proceeding in equity or at law. 

Section 3.05. No Violation. The execution, delivery and consummation of the transactions contemplated by this Agreement and the
fulfillment of the terms hereof do not: (i) conflict with or result in any breach of any of the terms and provisions of, nor constitute (with or without notice or lapse of time) a default under, the certificate of formation, operating agreement
or other organizational documents of the Seller, or any material indenture, agreement or other 

  
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instrument to which the Seller is a party or by which it is bound; (ii) result in the creation or imposition of any Lien upon any of the Seller’s properties pursuant to the terms of any
such indenture, agreement or other instrument (other than the Back-Up Security Interest); or (iii) violate any existing law or any existing order, rule or regulation applicable to the Seller of any federal or state court or regulatory body,
administrative agency or other governmental instrumentality having jurisdiction over the Seller or its properties. 
 Section 3.06.
No Proceedings. Except as set forth on Schedule 3.06, there is no action, suit or proceeding, at law or in equity, before or by any court, government agency, public board or body (collectively and individually, an
“Action”) pending with respect to which the Seller or any Land Lease Entity has been served with process or to the Knowledge of the Seller threatened, which Action (i) seeks to prohibit, restrain or enjoin any of the
transactions contemplated by the Transaction Documents or (ii) may result in any material adverse change in the business, properties, other assets or financial condition of the Seller or any Land Lease Entity; and as of the date hereof, to the
Knowledge of the Seller, there is no basis for any action, suit or proceeding of the nature described in clauses (i) and (ii) of this sentence. 

Section 3.07. Approvals. No approval, authorization, consent, order or other action of, filing with or notice to, any Governmental
Authority is required in connection with the execution and delivery by the Seller of this Agreement or any other Transaction Document to which it is a party, the performance by the Seller of the transactions contemplated hereby or thereby or the
fulfillment by the Seller of the terms hereof or thereof, except for those that have been obtained or made prior to the date hereof. The Seller is in compliance, in all material respects, with the requirements of all applicable Laws of all
Governmental Authorities. 
 Section 3.08. Membership Interests. 

(a) Absolute Transfer. It is the intention of the parties hereto that the transfer and assignment herein contemplated constitute a sale
of the Membership Interests from the Seller to the Purchaser and that no interest in, or title to, the Membership Interests shall be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under
any bankruptcy law. No portion of the Membership Interests has been sold, transferred, assigned or pledged by the Seller to any Person other than the Purchaser. The Seller owns the Membership Interests free and clear of all Liens, except for
Permitted Liens. On the date hereof, immediately upon the sale hereunder, the Seller has contributed, transferred, sold and conveyed the Membership Interests to the Purchaser, free and clear of all Liens, except for Permitted Liens. There are no
outstanding contracts, options, warrants, instruments, documents or agreements binding upon the Depositor or Issuer granting to any Person or group of Persons any right to purchase or acquire equity interests of any Land Lease Entity. 

(b) Transfer Filings. On the date hereof, immediately upon the sale hereunder, the Membership Interests have been validly transferred,
sold and contributed to the Purchaser, the Purchaser owns the Membership Interests free and clear of all Liens (except for Permitted Liens) and all filings to be made by the Seller necessary in any jurisdiction to give the Purchaser a valid,
perfected ownership interest (subject to Permitted Liens) in the Membership Interests have been made. All filings have also been made to the extent required in any jurisdiction to perfect the Back-Up Security Interest as a first priority security
interest (subject to Permitted Liens). No further action is required to maintain such ownership interest or such Back-Up 

  
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Security Interest (in each case, subject to Permitted Liens). Each Land Lease Entity has amended or modified its membership registry and/or operating agreement reflecting the transfer of the
subject Membership Interests and that Purchaser is the sole owner of such Membership Interests. 
 Section 3.09. Indebtedness.
The Seller has no Indebtedness. The Seller is not in default and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of the Seller and no event or condition exists with respect to any
Indebtedness of the Seller that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled
dates of payment. 
 Section 3.10. Principal Place of Business. The principal place of business and chief executive office of
the Seller is located at the address indicated on Schedule 3.10 hereto or at such other location designated by the Seller in a notice given to the Indenture Trustee, and the offices where the Seller keeps all its records are located at the
address indicated on Schedule 3.10 or such other locations notified to the Indenture Trustee. 
 Section 3.11. Title. The
Seller has good and sufficient title to its properties that individually or in the aggregate are material, in each case free and clear of Liens, except for Permitted Liens. 

Section 3.12. Solvency. The Seller was not prior to the transfer of the Membership Interests to the Purchaser, and is not after
giving effect to such transfer, insolvent. 
 Section 3.13. Land Lease Entities and Land Lease Assets. 

(a) Organization, Standing and Power. Each Land Lease Entity is a limited liability company, duly organized and validly existing, and
has all requisite power and authority to conduct its business as it is now being conducted and to own, lease and operate its assets. Each Land Lease Entity is in good standing under the Laws of the jurisdiction of its formation. Each Land Lease
Entity is duly qualified or licensed to do business as a foreign limited liability company in good standing in each jurisdiction in which the ownership or operation of its assets make such qualification or licensing necessary, except in those
jurisdictions where the failure to be so duly qualified or licensed would not reasonably be expected to result in a Material Adverse Effect on the Land Lease Entities determined on an individual basis. 

(b) Restrictions on Dividends and Distributions. No Land Lease Entity is subject to any legal, regulatory, contractual or other
restriction (other than the customary limitations imposed by corporate law or similar statutes) restricting the ability of such Land Lease Entity to pay dividends out of profits or make any other similar distributions of profits to the Seller. 

(c) Taxes; Assessments. Except as set forth in Schedule 3.13(c): 

(i) To the Knowledge of the Seller, there are no Liens for Taxes upon the Land Lease Assets of any Land Lease Entity other than Permitted
Liens; 
 (ii) No Land Lease Entity is a party to any “tax sharing”, tax indemnity or similar agreement; and 

(iii) All Taxes and other outstanding governmental charges (including, without limitation, water and sewage charges), or installments
thereof, in each case, with respect to the Land Lease Assets, have been paid by the applicable Land Lease Entity (if it is required to pay such Taxes and other charges pursuant to the terms of the applicable Land Lease Asset Documents) or, to the
Knowledge of Seller, by the Lessee or counterparty under the applicable Land Lease Asset Documents (if the applicable Land Lease Entity is not required to pay such Taxes and other charges pursuant to the terms of the applicable Land Lease Asset
Documents). 

  
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 (d) Land Lease Entities. Schedule 3.13(d) contains a listing of all of the Land
Lease Entities and the jurisdiction of their organization. Seller has no other subsidiaries other than the Land Lease Entities listed on Schedule 3.13(d). No Land Lease Entity has any subsidiaries. 

(e) Land Lease Asset Documents. 

(i) Schedule 3.13(e)(i) contains a listing of all documents described in clauses (A) through (D) below (copies of which have
been delivered to the Indenture Trustee), including all Land Lease Asset Documents to which, as of the date hereof, any Land Lease Entity is a party, and is true and correct in all material respects as of the date hereof: 

(A) copies of each title policy and survey for each Project Property, except for the Project Properties set forth on
Schedule 3.13(e)(i)(A); 
 (B) Each Land Lease Asset Document respecting a Standard Lease Transaction; 

(C) Each Land Lease Asset Document respecting a Hybrid Lease Transaction; and 

(D) Each joint venture agreement, partnership agreement or limited liability company agreement to which any Land Lease
Entity is a party (other than such party’s Charter Documents); 
 (ii) Each Land Lease Asset Document is in full force and effect and
constitutes a legal, valid and binding agreement, enforceable in accordance with its terms, of the Land Lease Entity party thereto and, to the Knowledge of Seller, of each other party thereto, except as the same may be limited by bankruptcy,
insolvency, reorganization, arrangement, moratorium or other similar Laws relating to or affecting the rights of creditors generally, or by general equitable principles. Except as set forth on Schedule 3.13(e)(ii), all payments and
performance required of the applicable Land Lease Entity under such Land Lease Asset Documents through the date hereof have been made, and neither the applicable Land Lease Entity, nor, to the Knowledge of Seller, any other party to the Land Lease
Asset Documents, was, as of the date hereof, in violation or breach of or default under such Land Lease Asset Documents (or with notice or lapse of time or both, would have been in violation or breach of or default under any such Land Lease Asset
Document). To the Knowledge of Seller, no payment obligation under a Land Lease Asset Document has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments, and as of the date hereof, no Land
Lease Asset Document is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments as of the date hereof. 

  
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 (iii) Each Lessee under the Land Lease Asset Documents to which a Land Lease Entity is a party
has agreed in writing in such Land Lease Asset Documents that the terms of such Land Lease Asset Documents may not be amended or modified, or canceled or terminated without the written consent or approval of the Land Lease Entity party thereto. 

(iv) The Land Lease Asset Documents to which a Land Lease Entity is a party provide that (A) no casualty event creates a termination
right by the subject Lessee without the consent of the Land Lease Entity and (B) upon a casualty event the subject Lessee must continue to make all scheduled payments due the subject Land Lease Entity under the related Land Lease Asset
Documents. 
 (v) Each Land Lease Asset Document to which a Land Lease Entity is a party in respect of each Standard Lease Transaction
provides that (A) the Land Lease Asset Document does not terminate upon a partial condemnation of the affected Project Property, but that rent or other payments due under such Land Lease Asset Document may be reduced as a result of partial
condemnation in proportion to the property that is condemned, and (B) upon any termination of the Land Lease Asset Document as a result of a complete or full condemnation, and with respect to any partial condemnation, the Land Lease Entity is
entitled to seek and receive a condemnation award with respect to its interest in the subject Project Property that has been condemned. 

(vi) Except as disclosed in writing to the Purchaser, since the execution of each Land Lease Asset Document (i) the material terms of
such Land Lease Asset Document have not been waived, impaired, modified, altered, satisfied, canceled or subordinated or rescinded in any material respect and (ii) the related Lessee has not been released by the related Land Lease Entity from
its obligations under such Land Lease Asset Document. 
 (f) Project Property. 

(i) Schedule 3.13(f)(i) lists all estates and interests in Project Property owned or held by each Land Lease Entity. Since
December 31, 2014 and as of the date hereof, no Land Lease Entity has (A) transferred any of its Project Property or (B) otherwise subjected any of its Project Property to any Lien, except for Permitted Liens. To the Knowledge of the
Seller, there has been no material adverse change with respect to any Project Property since the date of the title policy and survey referred to in Section 3.13(e)(i)(A). 

(ii) With respect to each parcel of Project Property: (A) to the Knowledge of Seller, as of the date hereof, there are no pending or
threatened proceedings for the total or partial condemnation relating to such Project Property that would have a material adverse effect on the value, use or operation of any Land Lease Asset; (B) except as set forth on Schedule
3.13(f)(ii), and as of the date hereof, the applicable Land Lease Entity that owns such Project Property has not granted (x) any options or rights of first refusal to purchase or lease the Project Property, or any portion thereof or
interest therein, or (y) any leases, subleases, licenses, occupancy agreements, use agreements, concessions or agreements or arrangements which, in the case of either of the foregoing clauses (x) or (y), would materially adversely affect
the operation of the applicable Project thereon, other than Permitted Liens. 
 (iii) Each Land Lease Entity owning any Project Property
has marketable title (or with respect to Project Property in the State of Texas, indefeasible title) to its Project Property, free and clear of all Liens, except for Permitted Liens. 

  
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 (g) Environmental Matters. 

(i) The Seller has not received any notice of any claim, and, to the Knowledge of Seller, there is no claim or proceeding instituted or
threatened, against any Land Lease Entity or any of the real property or other assets now or formerly owned, leased or operated by any Land Lease Entity, alleging any damage to the environment or violation of any Environmental Laws, except, in each
case, such as could not reasonably be expected to result in a Material Adverse Effect on the Land Lease Entities determined on an individual basis. 

(ii) To the Knowledge of Seller, other than the construction and operation of any Lessee’s Project on a Project Property, there are no
facts which would give rise to any claim, public or private, of violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to any of the real property now or formerly owned, leased or operated by
any of the Land Lease Entities, except, in each case, such as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect on the Land Lease Entities determined on an individual basis. 

(iii) No Land Lease Entity has stored any Hazardous Materials on any of the real property now or, to the Knowledge of Seller, formerly owned,
leased or operated by such Land Lease Entity in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect on the Land Lease Entities determined on
an individual basis. 
 (iv) No Land Lease Entity has disposed of any Hazardous Materials in a manner which is contrary to any
Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect on the Land Lease Entities determined on an individual basis. 

(h) Improvements. No Land Lease Entity owns any improvements, other than only de minimis improvements (such as roads or wells),
on the related Project Property. The applicable Land Lease Asset Documents provide that any improvements on the related Project Property, whether installed by the Lessee or owned by a Land Lease Entity, shall be maintained by the applicable Lessee
during the term of the applicable Land Lease Asset Documents. The Seller has not received notice of any material damage to any improvement on the Project Property that is related to any Land Lease Entity. 

(i) Access; Utilities; Separate Tax Lots. Each Project Property that is subject to a Standard Lease Transaction or subject to the
Hybrid Lease Transactions listed on Schedule 3.13(i) hereto (A) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress
and egress to/from a public road and (B) is served by or has uninhibited access to rights to public or private water and sewer (or well and septic) and all required utilities, to the extent all 

  
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are appropriate for the current use of such Project Property. With respect to a Project Property subject to a Standard Lease Transaction, except for transmission, communications, access and
similar easement parcels, such Project Property constitutes one or more separate tax parcels which do not include any property which is not part of such Project Property. 

(j) Local Law Compliance. With respect to the improvements located on or forming part of any Project Property, there are no violations
of applicable zoning ordinances, building codes and land laws other than those which would not have a material adverse effect on the value, operation or net operating income of the related Land Lease Asset. 

(k) Title. Each Land Lease Entity has good and sufficient title to its properties that individually or in the aggregate are material,
in each case free and clear of Liens, except for Permitted Liens. 
 (l) Model. The Model, to the Knowledge of Seller, is based upon
reasonable assumptions in light of the conditions existing at the time of delivery. 
 (m) Data Tape. The Data Tape is based upon
reasonable assumptions in light of the conditions existing at the time of delivery. 
 (n) Bankruptcy. As of the date hereof, neither
any Project Property, nor any portion thereof, is the subject of, and neither any Land Lease Entity nor, to the Knowledge of Seller, any Lessee is a debtor in state or federal bankruptcy, insolvency or similar proceeding. 

(o) Solvency. Immediately prior to the date hereof each Land Lease Entity was, and after giving effect to the transactions occurring on
the date hereof as contemplated by the Transaction Documents each Land Lease Entity is, solvent. 
 (p) Indebtedness. The Land Lease
Entities have no Indebtedness. No Land Lease Entity is in default and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of any Land Lease Entity and no event or condition exists with respect
to any Indebtedness of any Land Lease Entity that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its
regularly scheduled dates of payment. 
 ARTICLE IV. COVENANTS OF THE SELLER 

Section 4.01. Corporate Existence. So long as any of the Bonds are outstanding, except as provided under Section 5.02,
the Seller (a) will keep in full force and effect its existence, rights and franchises as a limited liability company under the laws of the jurisdiction of its organization and (b) will obtain and preserve its qualification to do business,
in each case to the extent that in each such jurisdiction such existence or qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the other Transaction Documents to which the Seller is a party and each
other instrument or agreement to which the Seller is a party necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby. 

  
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 Section 4.02. Delivery of Payments. The Seller has sent a notice substantially in the
form of Exhibit C hereto to each Lessee under the Land Lease Asset Documents directing such Lessee to deliver all amounts due, including, but not limited to lease payments, royalty payments, condemnation proceeds, insurance proceeds,
termination payments and prepayments, in respect of the subject Land Lease Asset Documents to Servicer’s account No.              at Citizens, National Association (the
“Payment Account”), and shall take such further actions as may be necessary to ensure that such payments are made to the Payment Account or any replacement account. Seller shall direct, or have the subject Land Lease Entity,
Servicer or any sub-servicer direct, all Lessees to deposit all cash flow with respect to the Land Lease Asset Documents, including, but not limited to lease payments, royalty payments, condemnation proceeds, insurance proceeds, termination payments
and prepayments, into the Payment Account; provided that if the Seller receives any such amounts with respect to the Land Lease Asset Documents it shall immediately deposit, or cause to be deposited, such amounts into the Payment Account.

 Section 4.03. Notice of Liens. The Seller shall notify the Purchaser and the Indenture Trustee promptly after becoming aware
of any Lien Granted on any of the Membership Interests, other than the conveyances hereunder or any Permitted Lien. 
 Section 4.04.
Compliance with Law. The Seller hereby agrees to comply with its Charter Documents and all Laws applicable to it, except to the extent that failure to so comply would not adversely affect the Purchaser or the Indenture Trustee’s
interests in the Membership Interests or under any of the other Transaction Documents to which the Seller is party or the Seller’s performance of its obligations hereunder or under any of the other Transaction Documents to which it is party.

 Section 4.05. Covenants Related to Bonds, Membership Interests. 

(a) So long as any of the Bonds are outstanding, the Seller shall treat the Bonds as debt of the Purchaser and not of the Seller, except for
financial accounting or tax reporting purposes. 
 (b) So long as any of the Bonds are outstanding, the Seller shall indicate in its
financial statements (if any) that it is not the owner of the Membership Interests and shall disclose the effects of all transactions between the Seller and the Purchaser in accordance with GAAP. 

(c) The Seller agrees that, upon the transfer and sale by the Seller of the Membership Interests to the Purchaser pursuant to this Agreement,
to the fullest extent permitted by law, the Purchaser shall have all of the rights originally held by the Seller with respect to the Membership Interests, including all rights of Seller (subject to the terms of the Indenture), as owner of the Land
Lease Entities, to cause such Land Lease Entities to exercise any and all rights and remedies to collect any amounts payable in respect of their respective Land Lease Assets in accordance with the related Land Lease Asset Documents. 

(d) So long as any of the Bonds are outstanding, (i) the Seller shall not make any statement or reference in respect of the Membership
Interests that is inconsistent with the ownership thereof by the Purchaser (other than for financial accounting or tax reporting purposes), and (ii) the Seller shall not take any action in respect of the Membership Interests except as otherwise
contemplated by the Transaction Documents. 

  
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 Section 4.06. Protection of Title. The Seller shall execute and file such filings,
including UCC filings, and cause to be executed and filed such filings, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the ownership interest of the Purchaser in the Membership Interests and
the Purchaser’s Back-Up Security Interest, including all filings required under the applicable UCC relating to the transfer of the ownership interest in the Membership Interests by the Seller to the Purchaser and the Grant of the Back-Up
Security Interest, and the continued perfection of such ownership interest and Back-Up Security Interest. The Seller shall deliver (or cause to be delivered) to the Purchaser file-stamped copies of, or filing receipts for, any document filed as
provided above, as soon as available following such filing. The Seller’s obligations pursuant to this Section 4.07 shall survive and continue following the date hereof (it being understood that the Seller may be required to advance
its own funds to satisfy its obligations hereunder). 
 Section 4.07. Nonpetition Covenant. Notwithstanding any prior
termination of this Agreement or the Bonds, and notwithstanding any bankruptcy, reorganization or other insolvency proceedings with respect to the Seller, the Seller solely in its capacity as a creditor of the Purchaser shall not, prior to the date
which is one year and one day after the termination of the Indenture, petition or otherwise invoke or cause the Purchaser to invoke the process of any court or government authority for the purpose of commencing or sustaining an involuntary case
against the Purchaser under any Federal or state bankruptcy, insolvency or similar law, appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Purchaser or any substantial part of the property
of the Purchaser, or, to the fullest extent permitted by law, ordering the winding up or liquidation of the affairs of the Purchaser. 

Section 4.08. Certain Limitations. 

(a) The Seller makes the covenants in Sections 2.5, 2.6 and 2.7 of its Amended and Restated Limited Liability Company
Agreement, which covenants are hereby incorporated into and made a part of this Agreement. 
 (b) The Seller shall not conduct or promote
any activities except as set forth in Section 2.5 of its Amended and Restated Limited Liability Company Agreement. 
 ARTICLE V.
LIABILITY OF THE SELLER 
 Section 5.01. Liability of Seller; Indemnities. 

(a) The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this
Agreement. 
 (b) The Seller shall indemnify and hold harmless the Purchaser from and against any and all Taxes that may at any time be
imposed on or asserted against the Purchaser under existing Laws as of the date hereof as a result of the sale of the Membership Interests to the Purchaser, including any sales, gross receipts, general corporation, tangible personal property,
privilege or license taxes, and all costs and expenses incurred in defending against such taxes. 

  
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 (c) (i) The Seller shall indemnify and hold harmless the Purchaser, the Indenture Trustee,
the Owner Trustee and any of their respective affiliates, officials, officers, directors, employees and agents (each, an “Indemnified Person”) from and against any and all liabilities, obligations, losses, actions, suits, claims,
damages, payments, costs or expenses of any kind whatsoever (collectively, “Losses”) that may be imposed on, incurred by or asserted against any of such Indemnified Persons as a result of (x) the Seller’s willful
misconduct or gross negligence in the performance of its duties or observance of its covenants under this Agreement or (y) subject to Section 6.01, the Seller’s breach of any of its representations and warranties contained in
this Agreement, except in the case of both clauses (x) and (y) to the extent of Losses either resulting from the willful misconduct or gross negligence of such Indemnified Person or resulting from a breach of a representation and warranty
made by such Indemnified Person in any of the Transaction Documents that gives rise to the Seller’s breach. 
 (ii) The indemnification
obligations of the Seller under Sections 5.01(b) and 5.01(c) shall survive the termination of the Transaction Documents. 

(iii) Promptly after receipt by an Indemnified Person of notice of its involvement in any action, proceeding or investigation, such
Indemnified Person shall, if a claim for indemnification in respect thereof is to be made against the Seller under Section 5.01(b) or 5.01(c), notify the Seller in writing of such involvement. Failure by an Indemnified Person to
so notify the Seller shall relieve the Seller from the obligation to indemnify and hold harmless such Indemnified Person under Sections 5.01(b) and 5.01(c) only to the extent that the Seller suffers actual prejudice as a result of such
failure. 
 (iv) With respect to any action, proceeding or investigation brought by a third party for which indemnification may be sought
under Sections 5.01(b) and 5.01(c), the Seller shall be entitled to assume the defense of any such action, proceeding or investigation. Upon assumption by the Seller of the defense of any such action, proceeding or investigation, the
Indemnified Person shall have the right to participate in such action or proceeding and to retain its own counsel. 
 (v) The Seller shall
be entitled to appoint counsel of the Seller’s choice at the Seller’s expense to represent the Indemnified Person in any action, proceeding or investigation for which a claim of indemnification is made against the Seller under
Section 5.01(b) or 5.01(c) (in which case the Seller shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the Indemnified Person except as set forth below); provided,
however, that such counsel shall be reasonably satisfactory to the Indemnified Person. Notwithstanding the Seller’s election to appoint counsel to represent the Indemnified Person in an action, proceeding or investigation, the
Indemnified Person shall have the right to employ separate counsel (including local counsel), and the Seller shall bear the reasonable fees, costs and expenses of such separate counsel if (1) the use of counsel chosen by the Seller to represent
the Indemnified Person would present such counsel with a conflict of interest, (2) the actual or potential defendants in, or targets of, any such action include both the Indemnified Person and the Seller and the Indemnified Person shall have
reasonably concluded that there may be legal defenses available to it that are different from or additional to those available to the Seller, (3)

  
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the Seller shall not have employed counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person within a reasonable time after notice of the institution of such
action or (4) the Seller shall authorize the Indemnified Person to employ separate counsel at the expense of the Seller. Notwithstanding the foregoing, the Seller shall not be obligated to pay for the fees, costs and expenses of more than one
separate counsel for the Indemnified Persons other than local counsel. 
 (vi) The Seller will not, without the prior written consent of the
Indemnified Person, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification may be sought under Sections 5.01(b) and
5.01(c) (whether or not the Indemnified Person is an actual or potential party to such claim or action) unless such settlement, compromise or consent includes an unconditional release of the Indemnified Person from all liability arising out
of such claim, action, suit or proceeding. The Seller shall not be required to indemnify an Indemnified Person for any amount paid or payable by such Indemnified Person in the settlement of any action, proceeding or investigation without the written
consent of the Seller, which consent shall not be unreasonably withheld. 
 (d) Indemnification under Sections 5.01(b) and
5.01(c) shall include reasonable fees and out-of-pocket expenses of investigation and litigation (including reasonable attorneys’ fees and expenses), except as otherwise provided in this Agreement. 

(e) The remedies of the Purchaser and the other Indemnified Persons (and thus the Bondholders) provided in this Agreement are each such
Person’s sole and exclusive remedies against the Seller for breach of its representations and warranties in this Agreement. 

Section 5.02. Limitation on Liability of Seller and Others. The Seller and any director, officer, manager, employee or agent of
the Seller may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person, respecting any matters arising hereunder. 

ARTICLE VI. REPURCHASE OBLIGATION 

Section 6.01. Repurchase Obligation. 

(a) In the event of a breach by the Seller that constitutes a Material Breach, either (1) the Seller shall pay or, if the Seller fails to
pay, HASI shall pay (pursuant to the HASI Indemnity Agreement) to the Issuer a stipulated damages amount equal to the aggregate Asset Value for the Land Lease Asset affected by the Material Breach as of the Repurchase Date, plus the Make Whole
Amount payable to the Bondholders in connection with the payment of such aggregate Asset Value (the “Repurchase Price”) or (2) the Seller shall deliver to the Indenture Trustee, or if the Seller fails to do so, HASI (pursuant
to the HASI Indemnity Agreement) shall deliver to the Indenture Trustee, Substitute Collateral to defease the Membership Interest relating to the affected Land Lease Asset as provided in Article VIII of the Indenture (the foregoing in clause
(1) or clause (2), the “Repurchase Obligation”); provided, however, that neither the Seller nor HASI shall be obligated to pay the Repurchase Price or to complete such defeasance if, prior to the Repurchase Date,
such Material Breach is cured to the reasonable satisfaction of the Required Bondholders or the Seller takes remedial action such that there is not and will not be a 

  
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Material Breach; provided, further, for the avoidance of doubt, that no Material Breach that has been so cured shall be taken into account in determining whether a subsequent
Material Breach has occurred. Upon (i) payment of the Repurchase Price or (ii) (A) receipt by the Indenture Trustee of the Substitute Collateral and (B) compliance with the other defeasance conditions set forth in Article VIII of
the Indenture, as applicable, the Membership Interest relating to the affected Land Lease Asset and the interest, if any of the Indenture Trustee or the Issuer in such Land Lease Asset shall cease to be part of the Trust Estate, and the Purchaser
shall convey and transfer such Membership Interest to the Seller or any Person designated by the Seller, in each case in accordance with the terms of the Indenture. 

(b) Notwithstanding any other provision of this Agreement, the Repurchase Obligation or the delivery of Substitute Collateral in the case of a
Material Breach shall be the sole and exclusive remedy available to the Purchaser, the Indenture Trustee on behalf of Bondholders or Bondholders with respect to a breach of any representation and warranty set forth in Section 3.13
hereof. Upon (i) the payment of a Repurchase Price or (ii) (A) receipt by the Indenture Trustee of the Substitute Collateral and (B) compliance with the other defeasance conditions set forth in Article VIII of the Indenture, as
applicable, pursuant to Section 6.01(a), the related Material Breach and each breach giving rise thereto shall be deemed cured and neither the Issuer nor any other Person shall have any claims, rights or remedies against the Seller with
respect to such Material Breach or any breach of representation and warranty which gave rise to such Material Breach. 
 (c) With respect to
any representations and warranties contained in Section 3.13 hereof which are made to the Knowledge of the Seller, if it is discovered that any representation and warranty is inaccurate and results in a material adverse effect on a
particular Land Lease Asset, on an individual basis, then notwithstanding Seller’s lack of knowledge of the accuracy of such representation and warranty at the time such representation or warranty was made, such inaccuracy shall be deemed a
Material Breach for purposes of the Repurchase Obligation. 
 ARTICLE VII. MISCELLANEOUS PROVISIONS 

Section 7.01. Amendment. This Agreement may be amended by the Seller and the Purchaser, with (a) ten (10) Business
Days’ prior written notice given to the Rating Agency, (b) the prior written consent of the Indenture Trustee, and (c) if any amendment would adversely affect in any material respect the interests of any Bondholder, the prior written
consent of such Bondholder. 
 It shall not be necessary for the consent of a Bondholder pursuant to this Section 7.01 to
approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. 

Prior to the execution of any amendment to this Agreement, the Indenture Trustee shall be entitled to receive and rely upon an Opinion of
Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and all conditions precedent have been satisfied. The Indenture Trustee may, but shall not be obligated to, enter into any such amendment which affects
the Indenture Trustee’s own rights, duties or immunities under this Agreement or otherwise. 

  
 18 

 The Purchaser shall provide a copy of any amendment to this Agreement to the Indenture Trustee
and the Rating Agency promptly after the execution thereof. 
 Section 7.02. Notices. Unless otherwise specifically provided
herein, all notices, directions, consents and waivers required under the terms and provisions of this Agreement shall be in English and in writing, and any such notice, direction, consent or waiver may be given by United States mail, courier
service, facsimile transmission or electronic mail (confirmed by telephone, United States mail or courier service in the case of notice by facsimile transmission or electronic mail) or any other customary means of communication, and any such notice,
direction, consent or waiver shall be effective when delivered, or if mailed, three days after deposit in the United States mail with proper postage for ordinary mail prepaid: 

(a) if to the Seller, to: 
 HA
Land Lease Holdings LLC 
 c/o Hannon Armstrong Sustainable Infrastructure Capital, Inc. 

1906 Towne Centre Blvd., Suite 370 

Annapolis, MD 21401 
 Attention:
General Counsel 
 Facsimile: (410) 571-6199 

Telephone: (410) 571-9860 

E-mail: Generalcounsel@hannonarmstrong.com 

(b) if to the Purchaser, to: 

HASI SYB Trust 2015-1 
 c/o BNY
Mellon Trust of Delaware 
 301 Bellevue Parkway, 3rd Floor 

Wilmington, Delaware 19809 

Attention: Corporate Trust 

Telephone: 302-791-3610 
 (c) if
to the Indenture Trustee, to: 
 The Bank of New York Mellon 

101 Barclay Street, Floor 7W East 

New York, New York 10286 

Attention: Asset Backed Securities Unit 

Facsimile: (212) 815-3883 

Telephone: (212) 815-8159 

(d) if to the Rating Agency, to: 

Kroll Bond Rating Agency, Inc. 

845 Third Ave., 4th Floor 
 New
York, New York 10022 
 Attention: ABS Surveillance 

e-mail: abssurveillance@kbra.com 

Facsimile: (212) 702-4500 

Telephone: (212) 702-0707 

(e) as to each of the foregoing, at such other address as shall be designated by written notice to the other parties. 

  
 19 

 Section 7.03. Assignment. Notwithstanding anything to the contrary contained herein,
except as provided in Section 5.02, this Agreement may not be assigned by the Seller. 
 Section 7.04. Limitations on
Rights of Third Parties. The provisions of this Agreement are solely for the benefit of the Seller, the Purchaser, the Bondholders, the Indenture Trustee, the Owner Trustee and the other Persons expressly referred to herein, and such Persons
shall have the right to enforce the relevant provisions of this Agreement, except that the Bondholders shall be entitled to enforce their rights against the Seller under this Agreement solely through a cause of action brought for their benefit by
the Indenture Trustee. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Membership Interests or under or in respect of this Agreement or any
covenants, conditions or provisions contained herein. 
 Section 7.05. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 7.06. Separate
Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument.

 Section 7.07. Headings. The headings of the various Articles and Sections herein are for convenience of reference only and
shall not define or limit any of the terms or provisions hereof. 
 Section 7.08. Governing Law. This Agreement shall be
construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws. 

Section 7.09. Collateral Assignment to Indenture Trustee. The Seller hereby acknowledges and consents to the Grant of a security
interest and collateral assignment by the Purchaser to the Indenture Trustee pursuant to the Indenture for the benefit of the Bondholders and the Indenture Trustee of all right, title and interest of the Purchaser in, to and under the Membership
Interests and the proceeds thereof and all other property included in the Trust Estate (including, without limitation, all of the Purchaser’s rights hereunder). 

[SIGNATURE PAGE FOLLOWS] 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have caused this Contribution and Sale Agreement to be
duly executed by their respective officers as of the day and year first above written. 
  

			
	HASI SYB TRUST 2015-1, as Purchaser
	
	By: BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee, on behalf of Purchaser
		
	By:	 	 /s/ JoAnn C. DiOssi

	Name:	 	JoAnn C. DiOssi
	Title:	 	Vice President
	
	HA LAND LEASE HOLDINGS LLC, as Seller
		
	By:	 	 /s/ Jeffrey W. Eckel

	Name:	 	Jeffrey W. Eckel
	Title:	 	President

 [Signature Page to Contribution and Sale Agreement] 

 SCHEDULE 3.01 

Seller Directors and Senior Officers 

  
 1 

 SCHEDULE 3.06 

Legal Proceedings 

 SCHEDULE 3.10 

Seller Principal Place of Business 

 SCHEDULE 3.13(c) 

Taxes 

 SCHEDULE 3.13(d) 

Land Lease Entities 

 SCHEDULE 3.13(e)(i) 

Land Lease Asset Documents and Title Policies/Surveys for Project Properties 

 SCHEDULE 3.13(e)(i)(A) 

Project Properties for which Title Policies and/or Surveys were not listed in Schedule 3.13(e)(i) 

 SCHEDULE 3.13(e)(ii) 

Breaches under Land Lease Asset Documents 

 SCHEDULE 3.13(f)(i) 

List of Estates/Interests in Project Property Owned or Held by each Land Lease Entity 

 SCHEDULE 3.13(f)(ii) 

Options/ROFOs/Other Rights Granted with respect to Project Properties 

 SCHEDULE 3.13(i) 

Certain Hybrid Lease Transactions 

 EXHIBIT A 

Data Tape 

 EXHIBIT B 

Financial Model 

 EXHIBIT C 

Form of Lessee Payment Direction Notice (Standard Lease Transactions) 

 Form of Lessee Payment Direction Notice (Hybrid Lease Transactions)

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