Document:

Exhibit 10.27

 

JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT (this
 “Joinder Agreement”) is entered into as of December 22, 2020, by the undersigned (“Additional
Loan Party”), in favor of TEXAS CAPITAL BANK, NATIONAL ASSOCIATION, for the benefit of the Secured Parties, in its capacity
as administrative agent (in such capacity, “Administrative Agent”) under that certain Credit Agreement dated
as of February 8, 2019 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among Flex Leasing Power & Service LLC (“Company”, and together with
the Additional Loan Party and any other Subsidiary of Company that becomes a party thereto from time to time, each a “Borrower”
and collectively, “Borrowers”), the other Loan Parties from time to time party thereto, the Administrative Agent
and the Lenders from time to time party thereto. All capitalized terms used herein and not otherwise defined herein shall have the meanings
set forth in the Credit Agreement.

 

The Additional Loan Party and Administrative Agent,
for the benefit of the Secured Parties, hereby agree as follows:

 

1.            Additional
Guarantor. The Additional Loan Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the
Additional Loan Party will be deemed to be a party to the Credit Agreement as a “Guarantor” for all purposes of the Credit
Agreement (including any Guaranty), and shall have all of the obligations of a Guarantor thereunder as if it had executed the Credit Agreement.
The Additional Loan Party hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions
applicable to Guarantors contained in the Credit Agreement. Without limiting the generality of the foregoing terms of this Section 1,
the Additional Loan Party hereby, jointly and severally with the other Guarantors, unconditionally, absolutely and irrevocably guarantees
to the Secured Parties, as provided in the Guaranty, the due and punctual payment at maturity, whether by acceleration or otherwise, and
the due fulfillment and performance of the Obligations. The Additional Loan Party is jointly and severally liable for the full payment
and performance of the Obligations as a primary obligor.

 

2.            Additional
Borrower. The Additional Loan Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the
Additional Loan Party will be deemed to be a party to the Credit Agreement as a “Borrower” for all purposes of the Credit
Agreement, and shall have all of the obligations of a Borrower thereunder as if it had executed the Credit Agreement. The Additional Loan
Party hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to Borrowers
contained in the Credit Agreement.

 

3.            Joinder
Documents. In accordance with Section 6.13 of the Credit Agreement, the Additional Loan Party is, simultaneously with the execution
of this Joinder Agreement, (a) executing and delivering such Security Documents (or joinders or assumptions thereto) as requested
by Administrative Agent in accordance with the Credit Agreement and (b) delivering such other documents and instruments as Administrative
Agent may require in its sole discretion, including appropriate favorable opinions of counsel to the Additional Loan Party in form, content
and scope reasonably satisfactory to Administrative Agent.

 

     

     

    

 

4.            Address
for Notice Purposes. The address of the Additional Loan Party for purposes of all notices and other communications is set forth on
the signature page hereof.

 

5.            Waiver
of Acceptance. The Additional Loan Party hereby waives acceptance by Administrative Agent and the Lenders of the guaranty by the Additional
Loan Party under the Guaranty upon the execution of this Joinder Agreement by the Additional Loan Party.

 

6.            Representations
and Warranties. The Additional Loan Party hereby represents and confirms that the representations and warranties set forth in the
Loan Documents which are applicable to the Guarantors and Borrowers are true and correct with respect to the Additional Loan Party on
and as of the date hereof (and after giving effect hereto), as if set forth herein in their entirety.

 

7.            Severability.
Any provision of this Joinder Agreement held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate
the remainder of this Joinder Agreement and the effect thereof shall be confined to the provision held to be invalid or illegal.

 

8.            Counterparts.
This Joinder Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. This Joinder Agreement shall become effective when it shall have been executed by Administrative
Agent and when Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of
the other parties hereto. Delivery of an executed counterpart of a signature page of this Joinder Agreement by facsimile or other
electronic transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart
of this Joinder Agreement.

 

9.            Governing
Law. This Joinder Agreement and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based
upon, arising out of or relating to this Joinder Agreement and the transactions contemplated hereby and thereby shall be governed by,
and construed in accordance with, the Law of the State of Texas (without reference to applicable rules of conflicts of laws).

 

10.          Loan
Document. This Joinder Agreement is a Loan Document for all purposes and each reference in any Loan Document to the Credit Agreement
or the Guaranty shall mean the Credit Agreement or the Guaranty, as applicable, as supplemented by this Joinder Agreement.

 

11.          ENTIRE
AGREEMENT. THIS JOINDER AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES.

 

[Remainder of page intentionally left blank.
Signature pages follow.]

 

    2

     

    

 

IN WITNESS WHEREOF, the undersigned
Additional Loan Party and Administrative Agent have executed this Joinder Agreement as of the date first above written.

 

	 	ADDITIONAL LOAN PARTY:
	 	 
	 	Flex
    Leasing Power and Service ULC, an Alberta
    unlimited liability corporation
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	Address for notices:
	 	 
	 	 
	 	Attn:	 
	 	Facsimile:	 
	 	E-mail:	                

 

[Signature
Page to Joinder Agreement –

Flex
Leasing Power and Service ULC]

 

     

     

    

 

	 	ACCEPTED BY:
	 	 
	 	TEXAS
    CAPITAL BANK, NATIONAL ASSOCIATION, as Administrative Agent
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	         

 

[Signature
Page to Joinder Agreement –

Flex
Leasing Power and Service ULC]Exhibit 10.28

 

JOINDER AGREEMENT AND AMENDMENT TO SUBORDINATION
AND

INTERCREDITOR AGREEMENT

 

This JOINDER AGREEMENT AND
AMENDMENT TO SUBORDINATION AND INTERCREDITOR AGREEMENT dated as of December 22, 2020 (this "Agreement"), is executed
by FLEX LEASING POWER AND SERVICE ULC, an Alberta unlimited liability corporation (the "New Subsidiary"), in favor
of TEXAS CAPITAL BANK, NATIONAL ASSOCIATION, in its capacity as Agent ("Agent"), and acknowledged and accepted
by Agent, the existing Loan Parties and the Subordinated Lenders, as defined in and pursuant to, that certain Subordination and Intercreditor
Agreement dated as of February 8, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the "Intercreditor
Agreement"), among Agent, the Subordinated Lenders from time to time party thereto, FlexEnergy Power Solutions, LLC, a Delaware
limited liability company, as Parent, Flex Leasing Power & Service LLC, a Delaware limited liability company, as Company, and
each of the other Loan Parties from time to time party thereto. All capitalized terms used herein and not otherwise defined shall have
the meanings set forth in the Intercreditor Agreement.

 

Section 1. Amendment
to Intercreditor Agreement.

 

Section 1 of the Intercreditor
Agreement is hereby amended by amending and replacing the definition of "Loan Parties" in its entirety to read as follows:

 

"Loan Parties"
shall mean the Company and each Subsidiary of the Company that is now or hereafter becomes a party to any Senior Debt Document. All references
in this Agreement to any Loan Party shall include such Loan Party as a debtor-in-possession and any receiver or trustee for such Loan
Party in any Proceeding.

 

Section 2. Joinder
to Intercreditor Agreement.

 

(a)          The
New Subsidiary, for the benefit of Agent, hereby agrees as follows: The New Subsidiary hereby acknowledges the Intercreditor Agreement
and acknowledges, agrees and confirms that, by its execution of this Agreement, the New Subsidiary will be deemed to be a "Loan
Party" under the Intercreditor Agreement and shall have all of the obligations of a Loan Party thereunder as if it had executed
the Intercreditor Agreement. The New Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms,
provisions and conditions contained in the Intercreditor Agreement.

 

(b)          The
address of the New Subsidiary for purposes of Section 13 of the Intercreditor Agreement is as follows:

 

6400 S. Fiddlers Green Circle, Suite 900,

Greenwood Village, CO 80111

Attention:     Doug Baltzer

Fax:               (303)
694-0344

E-Mail:          doug.baltzer@flexleasingpower.com

 

Section 3. Miscellaneous.

 

(a)          Continuing
Effect. Except as specifically provided herein, each party hereto confirms and agrees that the Intercreditor Agreement shall remain in
full force and effect in accordance with its terms and is hereby ratified and confirmed in all respects.

 

     

     

    

 

(b)          Governing
Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE NEW SUBSIDIARY HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS.

 

(c)         Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate 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.

 

(d)         Counterparts.
This Agreement may be executed in any number of counterparts, each of which counterparts when 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 Agreement by fax or
other electronic transmission shall be equally effective as delivery of a manually executed counterpart.

 

(e)           Headings.
Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this
Agreement for any other purpose.

 

(f)            Binding
Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the Agent, the Senior Secured Parties and the Subordinated
Lenders and their respective successors and assigns.

 

(g)          Entire
Agreement. This Agreement constitutes the entire agreement and understanding among the parties hereto with respect to the subject matter
hereof and supersedes any prior agreements, written or oral, with respect thereto.

 

[Signature Pages Follow]

 

[Signature
Page to Joinder and Amendment to Subordination and Intercreditor Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the New
Subsidiary has caused this Agreement to be duly executed by its authorized officer, as of the day and year first above written.

 

	 	FLEX LEASING POWER AND SERVICE ULC, an Alberta unlimited liability
    company

 

	 	By:	 

	 	Name:	 

	 	Title:	 

 

[Signature
Page to Joinder and Amendment to Subordination and Intercreditor Agreement]

 

     

     

    

 

	 	ACKNOWLEDGED AND AGREED TO BY:

 

	 	SUBORDINATED LENDERS:

 

	 	RNS FLEX, LLC

 

	 	By: RNS Management, LLC, its Manager

 

	 	By:	 

	 	 	Name:

	 	 	Title:

 

	 	ENERGY SPECIAL SITUATIONS FUND II, L.P.,

 

	 	By: Energy Special Situations Fund Management II, LLC, its general partner

 

		By:	 

	 	 	Name:

	 	 	Title:

 

	 	ESS PARTICIPATION FUND II, L.P.,

 

	 	By: Energy Special Situations Fund Management II, LLC, its general partner

 

	 	By:	 

	 	 	Name:

	 	 	Title:

 

	 	TRF PLATFORM HOLDINGS, LLC

 

	 	By: Intervale Capital Fund III, L.P., its manager

	 	By: Intervale Capital GP III, L.P., its general partner

	 	By: Intervale Capital Associates III LLC, its general partner

 

	 	By:	 

	 	 	Name:

	 	 	Title:

 

[Signature Page to Joinder and Amendment to Subordination and Intercreditor Agreement]

 

     

     

    

 

	 	PARENT:

 

	 	FLEXENERGY POWER SOLUTIONS, LLC,

	 	a Delaware limited liability company

 

	 	By	

	 	Name:	Wes Kimmel

	 	Title:	Chief Financial Officer  

 

	 	LOAN PARTIES:

 

	 	FLEX LEASING POWER & SERVICE LLC,

	 	a Delaware limited liability company  

 

	 	By	

	 	Name:	Darin Romine

	 	Title:	Vice President–Finance

 

	 	FLEX POWER CO.,

	 	a Delaware corporation

 

		By	

	 	Name:	Darin Romine

	 	Title:	Vice President–Finance

 

[Signature Page to Joinder and Amendment to Subordination and Intercreditor Agreement]

 

     

     

    

 

	 	AGENT: 

 

	 	TEXAS CAPITAL BANK, NATIONAL ASSOCIATION, as Agent

 

		By:	 

	 	Name:	 

	 	Title:	 

 

[Signature Page to Joinder and Amendment to Subordination and Intercreditor Agreement]

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