Document:

EX-10.8a

 Exhibit 10.8a 
 October 12, 2012 
 SolarCity Corporation 

3055 Clearview Way 
 San Mateo, CA 94127

  

	 	RE:	Consent to Revision of Schedule 7.01 to the Term Credit Agreement 

 Ladies and Gentlemen: 
 Reference is made to that certain Credit Agreement dated as of
March 8, 2012 (“Term Credit Agreement”) among SolarCity Corporation, a Delaware corporation (“Borrower”), the Lenders thereunder (“Term Lenders”), Bank of America, N.A., as administrative agent
(in such capacity, “Term Facility Agent”), and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as sole lead arranger and sole book manager. 
 Pursuant to Section 7.01 of the Term Credit Agreement, Borrower is not permitted to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, except for
Permitted Liens. As a result of a filing error by the Delaware Secretary of State, as of the Closing Date, Borrower was unaware of a UCC financing statement recorded with the Delaware Secretary of State on March 19, 2009 with the filing number
90892031, naming Duvera Billing Services, LLC as the secured party thereunder and Borrower as the debtor thereunder (the “Duvera Lien”). Subsequent to the Closing Date, Borrower learned of and informed Term Lenders and Term Facility
Agent of the existence of the Duvera Lien. Borrower now requests the Duvera Lien be added to Schedule 7.01 of the Term Credit Agreement. 
 Term
Facility Agent and Term Lenders (by their acceptance and agreement below) hereby consent and authorize the deletion of Schedule 7.01 of the Term Credit Agreement in its entirety and replacement with the Schedule 7.01 attached hereto, effective as of
the Closing Date. 
 The consent set forth above shall be effective only in this specific instance and for the specific purpose for which it is
given, and this consent shall not entitle Borrower to any other or further consent or waiver in any similar or other circumstances. The consent set forth above shall be limited precisely as written and shall not be deemed to (a) be a waiver or
modification of any other term or condition of the Term Credit Agreement or any other Loan Document (as defined in the Term Credit Agreement) or (b) prejudice any right or remedy which Term Facility Agent or Term Lenders may now have or may
have in the future under or in connection with the Term Credit Agreement or any Loan Document (as defined in the Term Credit Agreement). 
 This
letter agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same
instrument. Delivery of an executed counterpart of this letter agreement by telefacsimile or other electronic transmission shall be equally as effective as delivery of an original executed counterpart of this letter agreement. Any party delivering
an executed counterpart of this letter agreement by telefacsimile or other electronic transmission shall also deliver an original executed counterpart of this letter agreement, but the failure to do so shall not affect the validity, enforceability
or binding effect of this letter agreement. 

 Please acknowledge your receipt of this letter agreement and acceptance of the foregoing terms and
conditions by signing and dating the enclosed counterpart of this letter agreement where indicated below and returning the same to the undersigned as soon as possible. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 2 

 If the foregoing is in accordance with your understanding, please sign and return this
letter agreement to us. 
  

			
	 BANK OF AMERICA, N.A.,
 as Administrative Agent

		
	By:	 	 /s/ Rosanne Parsill

		 	Rosanne Parsill
		 	Vice President, Agency Management

 Consent Letter - Term Credit Agreement 

			
	 ACCEPTED AND AGREED TO
 AS OF THE DATE FIRST ABOVE WRITTEN:

	
	 BANK OF AMERICA, N.A.,
 as Term Lender

		
	By:	 	 /s/ John R. Dauphin

	Name:	 	John R. Dauphin
	Title:	 	Vice President

 Consent Letter - Term Credit Agreement 

			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
 as a Term Lender

		
	By:	 	 /s/ BILL O’DALY

	Name:	 	 BILL O’DALY

	Title:	 	 DIRECTOR

		
	By:	 	 /s/ Tyler R. Smith

	Name:	 	 Tyler R. Smith

	Title:	 	 Associate

 Consent Letter - Term Credit Agreement 

			
	 GOLDMAN SACHS BANK USA,
 as a Term Lender

		
	By:	 	 /s/ Michelle Latzoni

	Name:	 	 Michelle Latzoni

	Title:	 	 Authorized Signatory

 Consent Letter - Term Credit Agreement 

			
	SOLARCITY CORPORATION
		
	By:	 	 /s/ Robert Kelly

	Name:	 	Robert Kelly
	Title:	 	Chief Financial Officer

 Consent Letter - Term Credit Agreement 

 SCHEDULE 7.01 

Existing Liens 
  

	(1)	Lien on specific computer equipment and peripherals in favor of Dell Financial Services, L.P.; 

 

	(2)	Lien on specific computer equipment in favor of FPC Funding II, LLC; 

  

	(3)	Lien on lien on specific software in favor of IBM Credit LLC; 

  

	(4)	Liens on specific equipment in favor of Wells Fargo Bank, N.A.; 

  

	(5)	Lien on specific equipment in favor of MB Financial Bank, N.A.; 

  

	(6)	Lien on specific equipment in favor of NMHG Financial Services, Inc.; 

  

	(7)	Lien on specific office equipment in favor of CIT Technology Financing Services, Inc.; 

 

	(8)	Liens on specific equipment in favor of CIT Finance LLC; 

  

	(9)	Lien on specific installed modules and inverters in favor of National Bank of Arizona; 

 

	(10)	Liens on specific equipment in favor of De Lage Landen Financial Services, Inc.; 

 

	(11)	Liens on certain equipment leases in favor of Landlord 2008-A, LLC; 

  

	(12)	Liens on certain equipment leases in favor of USB SolarCity Owner 2009, LLC; 

 

	(13)	Liens on certain equipment leases in favor of USB SolarCity Owner 2009-2010, LLC; 

 

	(14)	Liens on certain equipment leases in favor of USB SolarCity Owner III, LLC; 

 

	(15)	Liens on certain equipment in favor of Canon Financial Services; 

  

	(16)	The lien on all assets (except the Collateral) securing the obligations of the Borrower under that certain revolving credit facility contemplated by the Revolving
Credit Agreement, dated as of April 1, 2011, among the Borrower, the lenders parties thereto and U.S. Bank National Association, as agent, as supplemented by that certain Promissory Note, dated April 15, 2011, by Borrower for the benefit
Bridge Bank, National Association, for an amount equal to $10,000,000, as more particularly described therein. 

  

	(17)	The lien on certain vehicles securing the obligations of the Borrower under that certain Term Loan Agreement, dated as of January 24, 2011, by and between Borrower
and U.S. Bank National Association, as more particularly described therein. 

  

	(18)	Liens on certain vehicles purchased with the proceeds of various auto-loans used to finance the purchase of vehicles with auto dealerships, securing the obligations of
the Borrower. 

  

	(19)	The lien on all Performance Based Incentive Rebates in connection with the Otay Mesa Border Station 247 pursuant to the Purchase Agreement dated May 31, 2008 in
favor of Duvera Billing Services, LLC.EX-10.8b

 Exhibit 10.8b 
 Effective as of December 31, 2012 (the “Effective Date”) 
 SolarCity
Corporation 
 3055 Clearview Way 
 San
Mateo, CA 94127 
 RE: Term Loan Agreement – Consent in Connection with Debt Service Coverage Ratio

 Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement dated as of March 8, 2012 (the “Term Loan Agreement”) among SolarCity
Corporation, a Delaware corporation (“Borrower”), the Lenders thereunder (“Term Lenders”), Bank of America, N.A., as administrative agent (in such capacity, “Term Facility Agent” and together with
the Term Lenders signatory hereto and Borrower, collectively, the “Parties”), and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as sole lead arranger and sole book manager, as such agreement has been modified pursuant
to a letter agreement dated as of October 12, 2012. All capitalized terms used but not defined herein shall have the meanings given to them in the Term Loan Agreement. 
 In accordance with Section 8.03 of the Term Loan Agreement, Borrower is required to maintain a Debt Service Coverage Ratio as of the end of any fiscal quarter of Borrower (including, but not
limited to, the fiscal quarter ending March 31, 2013 (the “102013 Test Period”)) of at least 1.25:1.00. The Borrower desires to amend the Term Loan Agreement to explicitly exempt the 1Q2013 Test Period from the requirements of
Section 8.03 thereof, effective as of the Effective Date. Borrower hereby certifies that the information in Exhibit A attached hereto is true and correct in all material respects. Borrower acknowledges that Term Loan Agent and
Term Lenders are relying on the truth and accuracy of the information in Exhibit A in connection with their consent to amend the Term Loan Agreement to exempt the 1Q2013 Test Period from the requirements of Section 8.03 thereof.
The Parties agree that, upon the execution and delivery of this letter by all Parties, Section 8.03 shall be deemed to be so amended, effective as of the Effective Date. 
 The consent set forth above shall be effective only in this specific instance and for the specific purpose for which it is given, and such consent shall not entitle Borrower to any other or further
consent or waiver in any similar or other circumstances. The consent set forth above shall be limited precisely as written and shall not be deemed to (a) be a waiver or modification of any other term or condition of the Term Loan Agreement or
any other Loan Document (as defined in the Term Loan Agreement) or (b) prejudice any right or remedy which Term Loan Agent or Term Lenders may now have or may have in the future under or in connection with the Term Loan Agreement or any Loan
Document (as defined in the Term Loan Agreement). 
 This letter agreement is a Loan Document and the provisions of the Term Loan Agreement with
respect to governing law, submission to jurisdiction, venue and waiver of jury trial are applicable hereto and incorporated herein. This letter agreement may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the 

 
same instrument. Delivery of an executed counterpart of this letter agreement by telefacsimile or other electronic transmission shall be equally as effective as delivery of an original executed
counterpart of this letter agreement. Any party delivering an executed counterpart of this letter agreement by tele facsimile or other electronic transmission shall also deliver an original executed counterpart of this letter agreement, but the
failure to do so shall not affect the validity, enforceability or binding effect of this letter agreement. 
 [Signature Pages
Follow] 

 Please acknowledge your acknowledgment, consent and agreement to the requests and statements
herein, please sign this letter agreement where indicated in the space below and return to us. 
  

			
	Very truly yours,
	
	 BANK OF AMERICA, N.A.,
 as Agent

		
	By:	 	 /s/ Dora Brown

	Name:	 	Dora Brown
	Title:	 	Vice President

 Consent Letter 
 (Term Loan) 

 
			
	 BANK OF AMERICA, N.A.,
 as Term Lender

		
	By:	 	 /s/ Thomas R. Sullivan

	Name:	 	Thomas R. Sullivan
	Title:	 	Senior Vice President

 Consent Letter 
 (Term Loan) 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
	as a Term Lender
		
	By:	 	 /s/ MIKHAIL FAYBUSOVICH

	Name:	 	 MIKHAIL FAYBUSOVICH

	Title:	 	 AUTHORIZED SIGNATORY

		
	By:	 	 /s/ TYLER SMITH

	Name:	 	 TYLER SMITH

	Title:	 	 AUTHORIZED SIGNATORY

 Consent Letter 
 (Term Loan) 

 
			
	GOLDMAN SACHS BANK USA,
	as a Term Lender
		
	By:	 	 /s/ Barbara Fabbri

	Name:	 	Barbara Fabbri
	Title:	 	Authorized Signatory

 Consent Letter 
 (Term Loan) 

			
	ACKNOWLEDGED, AGREED AND CONSENT TO:
	
	 SOLARCITY CORPORATION,
 as Borrower

		
	By:	 	 /s/ Robert Kelly

	Name:	 	Robert Kelly
	Title:	 	Chief Financial Officer

 Consent Letter 
 (Term Loan)

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