Document:

EX-10.9

 Exhibit 10.9 

BROOKFIELD RENEWABLE ENERGY L.P. 

FORM OF SEVENTH AMENDMENT TO THE THIRD AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT 

THIS SEVENTH AMENDMENT (the “Amendment”) to the Third Amended and Restated Limited Partnership
Agreement dated February 11, 2016 (the “Agreement”) of Brookfield Renewable Energy L.P. (the “Partnership”) is made as of the ∎ day of ∎, 2020 by the undersigned. Capitalized terms used but not
defined herein shall have the meanings set forth in the Agreement. 
 WHEREAS, on ∎, 2020, the board of
directors of the General Partner’s general partner approved a special distribution (the “Special Distribution”) of class A exchangeable subordinate voting shares (“BEPC Shares”) of Brookfield Renewable
Corporation (“BEPC”) to the holders of equity units of Brookfield Renewable Partners L.P. (“BEP”) to be completed on the date hereof; 

AND WHEREAS, the BEPC Shares will be structured with the intention of providing holders with an economic return
equivalent to limited partnership units of BEP (“BEP Units”), including identical distributions, and be exchangeable for BEP Units on a one-for-one
basis (subject to adjustment) (or for the cash equivalent, at the election of BEPC) in accordance with the terms of the BEPC Shares; 

AND WHEREAS, in connection with the Special Distribution, the Partnership will distribute BEPC Shares to all holders of
its Equity Units, which includes BEP; 
 AND WHEREAS, from time to time the BREP Group may wish to establish other
entities whose securities (collectively with the BEPC Shares, “Exchangeable Securities”) are also structured with the intention of providing holders with an economic return equivalent to BEP Units, including identical distributions,
and be exchangeable or redeemable for BEP Units; 
 AND WHEREAS, upon an exchange or redemption of Exchangeable
Securities for BEP Units, BEP will be issued, subscribe for or purchase the same number of additional Class A Units (the “Related Class A Issuance”), thereby increasing the number of Equity Units outstanding;

 AND WHEREAS, it is desirable to amend the Agreement in connection with the Special Distribution to adjust
the First Distribution Threshold and Second Distribution Threshold and to reflect the Special Distribution and the economic equivalence of the Exchangeable Securities that are the economic equivalent of BEP Units that may be issued from time to
time; 
 AND WHEREAS, as of May 3, 2016, BEP changed its name from Brookfield Renewable Energy Partners L.P. to
Brookfield Renewable Partners L.P. (the “Name Change”); 
 AND WHEREAS, it is desirable to amend the
Agreement to reflect the Name Change; 
 AND WHEREAS, pursuant to Section 17.1 of the Agreement, subject
to compliance with the requirements of the Limited Partnership Act and the Exempted Partnerships Act, the General Partner (pursuant to its powers of attorney from the Limited Partners), without the approval of any Limited Partner, may make any
amendment that in the sole discretion of the General Partner is necessary or appropriate to reflect and account for the formation of the Partnership of, or its investment in, any Person, as otherwise permitted by the Agreement and any amendment that
the 

 
General Partner determines in its sole discretion does not adversely affect the Limited Partners considered as a whole (including any particular class of Partnership Interest as compared to other
classes of Partnership Interests) in any material respect; 
 AND WHEREAS, the General Partner desires to amend the
Agreement as set out herein; 
 NOW THEREFORE, 

 

	1.	 Amendments to Article 1 

Section 1.1 is hereby amended by adding the following definitions: 

1.1.43.1 “Equivalent Security” means any Security (as such term is defined in the Master Services Agreement)
that is determined by the General Partner to be the economic equivalent of a BEP Unit; 
 1.1.43.2 “Equivalent
Security Amount” means the additional amount that would have been payable to the General Partner pursuant to clause (ii) of either Section 5.2.2.4 or Section 5.2.2.5 if any Equivalent Security outstanding on the last day of
the applicable Quarter had been exchanged or redeemed for BEP Units and the Related Class A Issuance had taken place immediately prior to the last day of the applicable Quarter less any Incentive Distribution paid by any member of the BEP Group
to any member of the Brookfield Group in respect of the Equivalent Security in respect of the applicable Quarter; 

1.1.115.1 “Related Class A Issuance” means, upon an exchange or redemption of Equivalent
Securities for BEP Units, the issuance to, subscription for or purchase by BEP of the same number of additional Class A Units; 

Section 1.1.50 is hereby deleted in its entirety and replaced with the following: 

“First Distribution Threshold” means $0.300 per Unit per Quarter (pro rated for any Quarter in which
(i) a Unit is not Outstanding for the entire Quarter or (ii) the Capital Amount in respect of a Unit is adjusted pursuant to Section 3.4.3); 

Section 1.1.119 is hereby deleted in its entirety and replaced with the following: 

“Second Distribution Threshold” means $0.338 per Unit per Quarter (pro rated for any Quarter in which
(i) a Unit is not Outstanding for the entire Quarter or (ii) the Capital Amount in respect of a Unit is adjusted pursuant to Section 3.4.3); 
  

	2.	 Amendments to Article 5 

Section 5.4.2 is hereby deleted in its entirety and replaced with the following: 

5.4.2    Notwithstanding anything to the contrary in this Article 5, any amounts otherwise payable to the
General Partner pursuant to clause (ii) of either Section 5.2.2.4 or Section 5.2.2.5 shall, subject to Section 5.4.3, (a) be reduced by (but will not be less than zero) any amount in the Incentive Distribution Account at the time
of the distribution (any such amount, once applied to reduce amounts otherwise payable, is referred to as an 

  
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“Applied Incentive Amount”) and (b) be increased by the Equivalent Security Amount (if positive) in respect of such Quarter. 

 

	3.	 Amendments Relating to the Name Change 

Both references on the cover page of the Agreement to “Brookfield Renewable Energy Partners L.P.” are hereby deleted, and the first
instance is replaced with “Brookfield Renewable Partners L.P.”. 
 The reference to “Brookfield Renewable Energy Partners
L.P.” on page 1 of the Agreement is hereby deleted and is replaced with “Brookfield Renewable Partners L.P. (formerly Brookfield Renewable Energy Partners L.P.)”. 

All references in the Agreement to “BREP” are hereby deleted and replaced with “BEP”. 

 

	4.	 Effective Date 

This Amendment shall be effective upon the date first written above. 
  

	5.	 Governing Law 

This Amendment shall be governed by and construed in accordance with the laws of Bermuda. 

 

	6.	 General 

  

	 	(a)	 Except as modified herein, all terms and conditions of the Agreement shall remain in full force and effect.

  

	 	(b)	 This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an
original and all of which shall be construed together as one agreement. 

 [Remainder of this page left blank
intentionally.] 

  
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 IN WITNESS WHEREOF, the General Partner has executed this Amendment
as of the date first above written. 
  

			
	GENERAL PARTNER:
	
	BREP HOLDING L.P., by its general partner, BRP BERMUDA GP LIMITED 
		
	By:	 	          

	Name:	 	
	Title:EX-10.11

 Exhibit 10.11 

BROOKFIELD RENEWABLE PARTNERS L.P. 

FORM OF FIRST AMENDMENT TO THE THIRD AMENDED AND RESTATED MASTER SERVICES AGREEMENT 

THIS AMENDMENT (the “Amendment”) to the Third Amended and Restated Master Services Agreement, dated as
of May 11, 2020 (the “Agreement”) among Brookfield Asset Management Inc. (“BAM”), Brookfield Renewable Partners L.P. (“BEP”) and others is made as of the ∎th day of ∎, 2020 by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement. 

WHEREAS, on ∎, 2020, the board of directors of the general partner of BEP approved a special distribution (the
“Special Distribution”) of class A exchangeable subordinate voting shares (“BEPC Shares”) of Brookfield Renewable Corporation (“BEPC”) to the holders of limited partnership units of BEP
(“Units”) to be completed on the date hereof; 
 AND WHEREAS, the BEPC Shares will be structured
with the intention of providing holders with an economic return equivalent to the Units, including identical distributions, and be exchangeable for Units on a
one-for-one basis (subject to adjustment) (or for the cash equivalent, at the election of BEPC) in accordance with the terms of the BEPC Shares; 

AND WHEREAS, the parties desire to amend the Agreement in connection with the Special Distribution to reflect
the addition of BEPC as a Holding Entity and make certain other amendments to the terms and conditions of the Agreement as set out herein; 

NOW THEREFORE, 
  

	1.	 Amendments to Article 1 

Section 1.1 is hereby amended by adding the following definitions: 

1.1.15.1    “BEPC” means Brookfield Renewable Corporation; 

1.1.31.1    “Exchangeable Shares” means exchangeable subordinate voting shares of BEPC;

 1.1.65.1    “Rights Agreement” has the meaning assigned thereto in
Section 7.5.3; 
 Section 1.1.39 is hereby deleted in its entirety and replaced with the following: 

“Holding Entities” means Brookfield BRP Holdings (Canada) Inc., BRP Bermuda Holdings I
Limited, Brookfield BRP Canada Corp., Brookfield BRP Holdings (US) Inc., Brookfield BRP Europe Holdings (Bermuda) Limited, Brookfield Renewable Investments Limited, Brookfield Renewable Power Preferred Equity Inc., Brookfield Renewable Partners ULC,
BEPC and any direct wholly-owned Subsidiary of BRELP created or acquired on or after the date of the Agreement, excluding, for greater certainty, any Operating Entities; 

	2.	 Amendments to Article 7 

Article 7 is hereby amended by adding the following provision after Section 7.5.2: 

7.5.3     BEP will reimburse Brookfield for any and all amounts actually paid to the rights agent
(i) pursuant to the Rights Agreement between Brookfield and Wilmington Trust, National Association, dated as of ∎, 2020 (the “Rights Agreement”), including, but not limited to, in respect of services rendered, out-of-pocket expenses, counsel fees and other disbursements incurred in the administration and execution of the Rights Agreement and the exercise and performance of the
rights agent’s duties thereunder, and (ii) in respect of any indemnification provided to the rights agent pursuant to the Rights Agreement. 
  

	3.	 Amendments to Article 8 

Article 8 is hereby deleted in its entirety and replaced with the following: 

ARTICLE 8 

BROOKFIELD’S OBLIGATION AND CONSENT RIGHT 

8.1     Provision of Services to the Service Recipients 

Brookfield’s sole obligation pursuant to this Agreement shall be to cause the members of the Service
Provider Group to provide Services to the Service Recipients in accordance with the terms of this Agreement. 

8.2    Consent to Issuance of Class A Shares 

8.2.1    Except as set forth in Section 8.2.2, prior to the issuance by BEPC of any
Exchangeable Shares, BEPC shall obtain the written consent of Brookfield, which consent shall be provided or withheld in Brookfield’s sole discretion, provided that Brookfield shall deliver its written decision on whether or not to provide such
consent within 10 Business Days of receiving a written request from BEPC, in respect of such issuance. Brookfield shall be entitled to such consent right for as long as Brookfield is a party to the Rights Agreement. 

8.2.2    Notwithstanding Section 8.2.1, Brookfield’s consent right does not apply
to the issuance by BEPC of any Exchangeable Shares in satisfaction of BEPC’s restricted stock unit awards. 
  

	4.	 Amendments to Article 13 

Article 13 is hereby amended by adding the following provision after Section 13.5.1: 

13.5.1.1 if to BEPC: 

Brookfield Renewable Corporation 

Brookfield Place 

250 Vesey Street, 15th Floor 

  
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 New York, NY 10281-1023 

USA 

Attention:    Secretary 

Telecopier number: 212-417-7196 

 

	5.	 Effective Date 

This Amendment shall be effective upon the date first written above. 
  

	6.	 Governing Law 

This Amendment shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada
applicable therein. 
  

	7.	 General 

  

	 	(a)	 Except as modified herein, all terms and conditions of the Agreement shall remain in full force and effect.

  

	 	(b)	 This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an
original and all of which shall be construed together as one agreement. 

 [Remainder of this page left blank
intentionally.] 

  
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 IN WITNESS WHEREOF, the parties have executed this Amendment as of
the date first above written. 
  

			
	BROOKFIELD ASSET MANAGEMENT INC.

  
			
		
	By:	 	
                     
                                        

  
			
	Name:	 	
	Title:	 	
	
	BROOKFIELD RENEWABLE PARTNERS L.P., by its general partner, BROOKFIELD RENEWABLE PARTNERS LIMITED

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	
	BROOKFIELD RENEWABLE ENERGY L.P., by its general partner, BREP HOLDING L.P., by its general partner, BRP BERMUDA GP LIMITED

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	BRP ENERGY GROUP L.P., by its general partner, BROOKFIELD RENEWABLE ENERGY GROUP G.P. INC.
		
	By:	 	
                     
                                    

	Name:	 	
	Title:	 	
	
	BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER (CANADA), L.P., by its general partner, BROOKFIELD PRIVATE FUNDS HOLDINGS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD RENEWABLE ENERGY GROUP (BERMUDA) LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	

  
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	BROOKFIELD GLOBAL RENEWABLE ENERGY ADVISOR LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD PRIVATE CAPITAL (DIFC) LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD BRP HOLDINGS (CANADA) INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BRP BERMUDA HOLDINGS I LIMITED
		
	By:	 	
                     
                                         
       

	Name:	 	
	Title:	 	

  
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	BROOKFIELD BRP CANADA CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD BRP HOLDINGS (US) INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD BRP EUROPE HOLDINGS (BERMUDA) LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD RENEWABLE INVESTMENTS LIMITED
		
	By:	 	
                     
                                         
       

	Name:	 	
	Title:	 	

  
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	BROOKFIELD RENEWABLE POWER PREFERRED EQUITY INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD RENEWABLE ENERGY PARTNERS ULC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BROOKFIELD RENEWABLE CORPORATION
		
	By:	 	
                     
                                         
       

	Name:	 	
	Title:	 	

  
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