Document:

Operation and Maintenance Agreement Dated as of August 31, 2008

 Exhibit 10.4 
 EXECUTION VERSION 
  
  
 OPERATION AND MAINTENANCE AGREEMENT 
 BY AND BETWEEN 
 Thermo No. 1 BE-01, LLC 
 AS OWNER 
 AND 
 Raser Power Systems, LLC 
 AS OPERATOR 
  
  
 Dated as of 
 August 31, 2008 
 Operation and
Maintenance Agreement 

 TABLE OF CONTENTS 
  

							
	 	  	Page
	 ARTICLE I DEFINITIONS
	  	1
				
		  	 SECTION 1.1
	    	DEFINED TERMS	  	1
		  	 SECTION 1.2
	    	INTERPRETATION	  	1
		
	 ARTICLE II RESPONSIBILITIES OF OPERATOR
	  	2
				
		  	 SECTION 2.1
	    	SCOPE OF SERVICES	  	2
		  	 SECTION 2.2
	    	STANDARDS FOR MAINTENANCE OF THE O&M SERVICES	  	9
		  	 SECTION 2.3
	    	FACILITY OBJECTIVES; MAINTENANCE STANDARDS	  	9
		  	 SECTION 2.4
	    	CONFIRMATION OF OPERATOR	  	9
		  	 SECTION 2.5
	    	PERSONNEL STANDARDS	  	10
		  	 SECTION 2.6
	    	[RESERVED]	  	10
		  	 SECTION 2.7
	    	REPORTS	  	10
		  	 SECTION 2.8
	    	NO LIENS OR ENCUMBRANCES	  	12
		  	 SECTION 2.9
	    	EMERGENCY ACTION	  	12
		  	 SECTION 2.10
	    	O&M MANUAL	  	13
		  	 SECTION 2.11
	    	NO ACTION	  	13
		  	 SECTION 2.12
	    	COOPERATION	  	13
		  	 SECTION 2.13
	    	AFFILIATE CONTRACTS	  	13
		
	 ARTICLE III RESPONSIBILITIES OF OWNER
	  	14
				
		  	 SECTION 3.1
	    	GENERAL	  	14
		  	 SECTION 3.2
	    	O&M MANUAL	  	14
		  	 SECTION 3.3
	    	FACILITY	  	14
		  	 SECTION 3.4
	    	CONTRACTOR-SUPPLIED ITEMS	  	14
		  	 SECTION 3.5
	    	TECHNICAL INFORMATION AND MANUALS	  	14
		
	 ARTICLE IV REPRESENTATIVES OF THE PARTIES
	  	15
				
		  	 SECTION 4.1
	    	REPRESENTATIVE OF OPERATOR	  	15
		  	 SECTION 4.2
	    	REPRESENTATIVE OF OWNER	  	15
		
	 ARTICLE V LIMITATIONS ON AUTHORITY
	  	15
				
		  	 SECTION 5.1
	    	GENERAL LIMITATIONS	  	15
		  	 SECTION 5.2
	    	EXECUTION OF DOCUMENTS	  	17
		
	 ARTICLE VI PLANS, PROCEDURES AND REPORTING
	  	17
				
		  	 SECTION 6.1
	    	ANNUAL OPERATING PLAN AND BUDGET	  	17
		  	 SECTION 6.2
	    	AVAILABILITY OF OPERATING DATA AND RECORDS	  	19
		  	 SECTION 6.3
	    	BOOKS AND RECORDS	  	19
		
	 ARTICLE VII REIMBURSABLE COSTS AND COMPENSATION TO OPERATOR
	  	19
				
		  	 SECTION 7.1
	    	REIMBURSABLE COSTS	  	19
		  	 SECTION 7.2
	    	BASE FEE	  	23
		  	 SECTION 7.3
	    	LATE PAYMENT	  	23
		  	 SECTION 7.4
	    	PAYMENT FOR OWNER SUPPLIED MAINTENANCE	  	23
		  	 SECTION 7.5
	    	PAYMENT FOR AMOUNTS DUE UNDER SITE DOCUMENTS	  	24
		  	 SECTION 7.6
	    	PAYMENTS FOR OTHER AMOUNTS DUE FROM OWNER	  	24
		
	 ARTICLE VIII TERMINATION
	  	25
				
		  	 SECTION 8.1
	    	TERM	  	25
		  	 SECTION 8.2
	    	TERMINATION BY OWNER	  	25

 Operation and Maintenance Agreement 
  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

							
		  	 SECTION 8.3
	    	TERMINATION BY OPERATOR	  	26
		  	 SECTION 8.4
	    	SUSPENSION BY OPERATOR	  	27
		  	 SECTION 8.5
	    	FACILITY CONDITION AT END OF TERM	  	27
		
	 ARTICLE IX FORCE MAJEURE
	  	28
				
		  	 SECTION 9.1
	    	FORCE MAJEURE	  	28
		  	 SECTION 9.2
	    	BURDEN OF PROOF	  	28
		
	 ARTICLE X INDEMNIFICATION
	  	28
				
		  	 SECTION 10.1
	    	OPERATOR’S INDEMNIFICATION	  	28
		  	 SECTION 10.2
	    	OWNER’S INDEMNIFICATION	  	29
		  	 SECTION 10.3
	    	RECOVERY	  	29
		  	 SECTION 10.4
	    	NOTICE	  	29
		  	 SECTION 10.5
	    	DEFENSE OF THIRD PARTY CLAIMS	  	30
		
	 ARTICLE XI LIABILITIES OF THE PARTIES
	  	30
				
		  	 SECTION 11.1
	    	LIMITATIONS OF LIABILITY	  	30
		  	 SECTION 11.2
	    	[RESERVED]	  	31
		  	 SECTION 11.3
	    	LIMITATION OF OPERATOR’S LIABILITY	  	31
		  	 SECTION 11.4
	    	NO WARRANTIES OR GUARANTEES	  	31
		  	 SECTION 11.5
	    	EXCLUSIVE REMEDIES	  	31
		  	 SECTION 11.6
	    	DAMAGES UNDER OWNER MAINTENANCE AGREEMENTS	  	32
		
	 ARTICLE XII TITLE, DOCUMENTS AND DATA
	  	32
				
		  	 SECTION 12.1
	    	MATERIALS AND EQUIPMENT	  	32
		  	 SECTION 12.2
	    	DOCUMENTS	  	32
		  	 SECTION 12.3
	    	REVIEW BY OWNER	  	32
		
	 ARTICLE XIII MISCELLANEOUS PROVISIONS
	  	32
				
		  	 SECTION 13.1
	    	ACCESS	  	32
		  	 SECTION 13.2
	    	ASSIGNMENTS	  	33
		  	 SECTION 13.3
	    	GOVERNING LAW, JURISDICTION	  	33
		  	 SECTION 13.4
	    	SEVERABILITY	  	33
		  	 SECTION 13.5
	    	NOTICES	  	33
		  	 SECTION 13.6
	    	ARTICLE AND SECTION HEADINGS	  	34
		  	 SECTION 13.7
	    	SURVIVAL	  	35
		  	 SECTION 13.8
	    	REMEDIES	  	35
		  	 SECTION 13.9
	    	ENTIRE AGREEMENT	  	35
		  	 SECTION 13.10
	    	AMENDMENTS; WAIVERS.	  	35
		  	 SECTION 13.11
	    	FINANCING DOCUMENTS	  	35
		  	 SECTION 13.12
	    	NO THIRD PARTY RIGHTS	  	35
		  	 SECTION 13.13
	    	OWNER’S OBLIGATIONS NON-RECOURSE	  	36
		  	 SECTION 13.14
	    	RELATIONSHIP OF THE PARTIES	  	36
		  	 SECTION 13.15
	    	COUNTERPARTS	  	36
		  	 SECTION 13.16
	    	DISPUTE RESOLUTION	  	36
		  	 SECTION 13.17
	    	FURTHER ASSURANCES	  	37
		  	 SECTION 13.18
	    	CONFIDENTIALITY	  	37
		  	 SECTION 13.19
	    	DELIVERY OF REPORTS, NOTICES, CERTIFICATES AND OTHER
DOCUMENTS	  	37

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

 LIST OF SCHEDULES 
  

			
	Schedule A:	 	Owner Maintenance Documents
	Schedule B:	 	Insurance Requirements
	Schedule C:	 	Performance Criteria
	Schedule D:	 	Dispute Resolution
	Schedule E:	 	Confidentiality Agreement
	Schedule Z:	 	Definitions

 LIST OF EXHIBITS 
  

			
	Exhibit A:	 	Form of Annual Operating Plan and Budget
	Exhibit B:	 	Form of O&M Funding Request
	Exhibit C:	 	Form of O&M Payment Request
	Exhibit Z-A:	 	Form of Schedule Z Amendment

  

 iii 

 OPERATION AND MAINTENANCE AGREEMENT 
 OPERATION AND MAINTENANCE AGREEMENT (this “Agreement”), dated as of August 31, 2008 (the “Effective Date”), by and
between THERMO NO. 1 BE-01, LLC, a Delaware limited liability company (“Owner”), and RASER POWER SYSTEMS, LLC, a Delaware limited liability company (the “Operator”). 
 RECITALS 
 WHEREAS, pursuant to
the Construction Documents, Owner is developing and constructing the Facility for the purpose of generating and selling power generated therefrom; and 
 WHEREAS, Owner hereby agrees to retain the services of the Operator for the operation and maintenance of the Facility, among other matters specified herein, and the Operator hereby agrees to provide such
services, in each case, upon the terms and subject to the conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration
of the premises and the mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1 Defined Terms. 
 1.1.1 Unless the context otherwise requires, capitalized terms used but not otherwise defined herein shall have the respective meanings specified in Schedule Z attached hereto. 
 1.1.2 The Parties hereto agree that Schedule Z attached hereto shall be deemed amended upon entering into an amendment agreement in the form
attached hereto as Exhibit Z-A, whereupon execution of which by each Party hereto and thereto in connection with the amendment, modification, revision or restatement of any Schedule Z Document; Schedule Z attached hereto shall be
removed and replaced by such amended, modified, revised or restated form of Schedule Z.  
 Section 1.2 Interpretation. 
 1.2.1 The words “Operation and Maintenance Agreement”, “this Agreement”, “herein”, “hereunder”,
“hereof”, “hereby”, or other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision hereof. 
 1.2.2 Unless the context requires otherwise, in this Agreement (a) words singular or plural in number shall be deemed to include the other and
pronouns having a masculine, feminine or neuter gender shall be deemed to include the other, (b) any reference to any Person shall include its permitted successors and assigns, (c) any reference to Governmental 

  

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Authority shall include any Person succeeding to its functions and capacities, (d) any reference to any Article, Section, Exhibit or Schedule shall mean
and refer to the Article or Section contained in or the Exhibit or Schedule attached to this Agreement, (e) Exhibits and Schedules attached hereto are part of this Agreement, (f) all the agreements, documents, exhibits, schedules and other
instruments defined or referenced herein shall mean such agreements, documents, exhibits, schedules and other instruments as the same may from time to time be amended, revised, modified or supplemented or the terms and conditions thereof waived to
the extent permitted by, and in accordance with the terms thereof and of the other Operative Documents, (g) the words “include” and “including” shall mean to include, without limitation, (h) all times are Eastern
Standard Time or Eastern Daylight Time, as the case may be, and (i) all amounts to be paid hereunder are referenced in Dollars and are to be paid by wire transfer in immediately available funds. 
 ARTICLE II 
 RESPONSIBILITIES OF
OPERATOR 
 Section 2.1 Scope of Services. 
 2.1.1 Operation and Maintenance Services. From and after the O&M Commencement Date, subject to the terms and conditions of this Agreement and subject to the authority of Owner to control all aspects of the
Facility, Operator shall have care, custody and control over the Facility and sole and exclusive responsibility for the operation and maintenance of the Facility on behalf of Owner including with respect to the following activities to be performed,
in each case, in the name and on behalf of Owner: 
 2.1.1.1 Personnel. Operator shall hire, retain, train, qualify,
certify, dismiss or otherwise manage all employees as may be necessary or appropriate to provide or perform any O&M Services hereunder; 
 2.1.1.2 Maintenance and Overhauls. Operator shall provide or perform all routine, normal and customary maintenance and overhaul services, whether scheduled or unscheduled, as may be necessary or appropriate in
connection with the operation and maintenance of the Facility and the Facility Site, including the implementation, monitoring and enforcement of policies and procedures relating to the foregoing; 
 2.1.1.3 Inspections. Operator shall provide or perform all routine, normal and customary inspection services, whether scheduled or
unscheduled, as may be necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site, including the implementation, monitoring and enforcement of policies and procedures relating to the foregoing;

 2.1.1.4 Repair and Replacement. Operator shall provide or perform all routine, normal and customary repair and
replacement services, regardless of cause, as may be necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site, including the implementation, monitoring and enforcement of policies and procedures
relating to the foregoing; 
  

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 2.1.1.5 Testing. Operator shall provide or perform all routine, normal and
customary testing services, whether scheduled or unscheduled, as may be necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site, including the implementation, monitoring and enforcement of
policies and procedures relating to the foregoing; 
 2.1.1.6 Environmental. Operator shall provide or perform all
routine, normal and customary environmental services as may be necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site, including the implementation, monitoring and enforcement of policies and
procedures relating to the foregoing; 
 2.1.1.7 Remedial Actions. Operator shall recommend to Owner any remedial
action that Operator considers necessary or appropriate to correct any operational and maintenance deficiencies of the Facility and the Facility Site revealed by analysis of any inspection or test results or that are otherwise discovered in
connection with the operation and maintenance of the Facility; 
 2.1.1.8 Improvements and Modifications. Operator
shall make all improvements, alterations or other modifications to the Facility and the Facility Site as may be directed by Owner from time to time; 
 2.1.1.9 Emergency Services and Procedures. Operator shall provide, or cause to be provided, any normal and customary fire, safety, emergency response and security and monitoring services that are necessary or
appropriate in connection with the operation and maintenance of the Facility, including the implementation, monitoring and enforcement of policies and procedures relating to the foregoing; 
 2.1.1.10 Procurement. Operator shall procure or otherwise obtain all Equipment and Materials and services necessary and appropriate
in connection with the operation and maintenance of the Facility and the Facility Site, using commercially reasonable efforts to procure or otherwise obtain, in good faith, all such Equipment and Materials at the price and cost which are both
reasonable and competitive in the industry with regard to the functional life of service of the Facility and the Facility Site, taking into account quality, performance and safety; 
 2.1.1.11 Storage and Related Matters. Operator shall oversee, manage or provide for the transportation, receipt, storage,
expediting and maintenance of any Equipment and Materials, including any Hazardous Materials, in connection with the provision or performance of any O&M Services hereunder as necessary or appropriate; 
 2.1.1.12 Sale and Delivery of Power. Operator shall manage and implement the sale and delivery to applicable interconnect
facilities of electricity produced at the Facility, including performing all forecasting, dispatch, scheduling and balancing services and obligations as may be necessary or 

  

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appropriate in connection with the operation and maintenance of the Facility and the Facility Site, including in connection with all power purchase and
interconnection agreements; 
 2.1.1.13 Support. Operator shall provide any and all Support, including temporary
facilities, utilities, tools, machinery or other items, necessary or appropriate in connection with any of the foregoing; 
 2.1.1.14 Wellfield Maintenance. Operator shall provide or perform all routine, normal and customary testing and maintenance services, as updated or amended from time to time pursuant to the Annual Operating Plan and Budget, whether
scheduled or unscheduled, as may be necessary or appropriate in connection with the testing and maintenance of the Wellfield, including the implementation, monitoring and enforcement of policies and procedures relating to the foregoing; and

 2.1.1.15 Other Services. As part of the O&M Services, Operator shall perform or provide any other O&M
Services, Equipment and Materials or any Support, including any actions or items not specifically described in this Agreement, if it reasonably may be inferred in accordance with applicable standards hereunder that such additional work or item
is contemplated as part of this Agreement or is necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site. 
 2.1.2 Administrative Services. From and after the O&M Commencement Date, subject to the terms and conditions of this Agreement and subject to the authority of Owner to control all aspects of the Facility,
Operator shall have sole and exclusive responsibility to administer and manage the Facility on behalf of Owner, including with respect to the following activities to be performed, in each case, in the name and on behalf of Owner: 
 2.1.2.1 Service Providers. Operator shall identify, engage, manage, oversee, direct, negotiate and communicate with engineers,
architects, accountants, suppliers, brokers, contractors, consultants and other service providers as may be necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site and in order to provide any
and all O&M Services hereunder; 
 2.1.2.2 Governmental Authorities. Operator shall negotiate and communicate on
behalf of Owner with all Governmental Authorities and other Persons necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site and in order to provide any and all O&M Services hereunder;

 2.1.2.3 Governmental Approvals. Operator shall obtain, if not previously obtained and maintain, for itself and on
behalf of Owner, any and all Governmental Approvals (and any renewals or replacements of the same) required or otherwise necessary or appropriate in connection with the operation 

  

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and maintenance of the Facility and the Facility Site, including the provision or performance of the O&M Services, and which may otherwise be necessary
or appropriate in connection with the transactions contemplated by this Agreement. All such Governmental Approvals shall, to the extent permitted by Applicable Law, be in the name of Owner, and otherwise Operator shall take all action and do all
things necessary or appropriate to permit the prompt transfer of all such Governmental Approvals to Owner in the event this Agreement is terminated or Operator is otherwise limited or prohibited from providing, performing or otherwise satisfying its
obligations hereunder. Operator shall provide copies of all such Governmental Approvals (and any renewals or replacements of the same) to Owner promptly upon obtaining them; 
 2.1.2.4 Applicable Law. Operator (a) shall comply and (b) shall initiate and maintain reasonable policies, procedures and
precautions that are necessary or appropriate to cause the Facility, the Facility Site and the O&M Services provided and performed hereunder to comply, in each case, with applicable provisions of all Applicable Laws, including Environmental Laws
and those related to prevention of injury to persons or damage to property at the Facility or Facility Site; 
 2.1.2.5
Warranties on New Equipment and Materials and Services. Operator shall, in connection with the procurement of all Equipment and Materials and the O&M Services hereunder, obtain and maintain, in full force and effect, and enforce, in each
case, on behalf of Owner, all warranties (including extended warranties applicable upon repair or replacement) provided by suppliers or vendors thereof. All such warranties shall, to the extent permitted by Applicable Law, be in the name of Owner or
the Facility, and otherwise Operator shall take all action and do all things necessary or appropriate to permit the prompt transfer of all such warranties to Owner in the event this Agreement is terminated or Operator is otherwise limited or
prohibited from providing, performing or otherwise satisfying its obligations hereunder. Operator shall provide copies of all such warranties, licenses and approvals (and any renewals or replacements of the same) to Owner promptly upon obtaining
them. 
 2.1.2.6 Original Warranties. Operator shall maintain, in full force and effect, and enforce, in each case, on
behalf of Owner, all warranties (including extended warranties applicable upon repair or replacement) provided pursuant to any of the Construction Documents with respect to the Facility or any component thereof. All such warranties shall, to the
extent permitted by Applicable Law, be in the name of Owner or the Facility, and otherwise Operator shall take all action and do all things necessary or appropriate to permit the prompt transfer of all such warranties to Owner in the event this
Agreement is terminated or Operator is otherwise limited or prohibited from providing, performing or otherwise satisfying its obligations hereunder. Operator shall provide copies of all such warranties, licenses and approvals (and any renewals or
replacements of the same) to Owner promptly upon obtaining them; 
  

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 2.1.2.7 Owner Maintenance Agreements. 
 2.1.2.7.1 In General; Nature of Maintenance Contracts. Operator acknowledges that Owner has or shall directly enter into the Owner
Maintenance Agreements for the performance and provision of Owner-Supplied Maintenance Services. Nonetheless, Operator further acknowledges and agrees that the subject matter of the Owner Maintenance Agreements is, or shall be deemed, “O&M
Services” to be provided or performed by Operator hereunder and, therefore, Operator and Owner agree that, except as expressly stated herein or as Owner otherwise directs, the Operator shall act as Owner with respect to all Owner Maintenance
Agreements to the same extent as if such Owner Maintenance Agreements were subcontracts with Operator for all purposes hereunder. Operator shall ensure that any O&M Services performed or provided in connection with such Owner Maintenance
Agreements shall be provided or performed in compliance with all requirements applicable to O&M Services provided or performed hereunder; 
 2.1.2.7.2 Execution and Delivery of Owner Maintenance Agreements. As of the date hereof, the Owner Maintenance Agreements that have been duly executed and delivered by the parties thereto are set forth in
Schedule A attached hereto; such Owner Maintenance Agreements have been reviewed and negotiated at Owner’s direction by the Operator. On and after the date hereof, Owner hereby grants Operator the continuing authority to negotiate, on
Owner’s behalf, all other Owner Maintenance Agreements, or any amendment thereto or replacement thereof, with respect to the Owner-Supplied Maintenance Services; provided, that (i) Operator shall negotiate such Owner Maintenance
Agreements, or amendments or replacements thereto, in good faith and exercise reasonable care in connection with the foregoing, (ii) Operator shall negotiate such Owner Maintenance Agreements, or amendment or replacements thereto, bearing in
mind the Annual Operating Plan and Budget, and (iii) all Owner Maintenance Agreements, or amendments or replacements thereto, shall be executed and delivered by Owner once fully negotiated by Operator; provided, that, upon entry into a
new Owner Maintenance Agreement or upon the amendment, replacement or expiration of an Owner Maintenance Agreement, Schedule A attached hereto shall be deemed amended to reflect such action; 
 2.1.2.7.3 Responsibilities and Rights under Owner Maintenance Agreements. Operator shall, on behalf of Owner, fully perform all
duties, responsibilities and obligations and exercise all rights, including with respect to rights to damages and warranties, of the Owner under the Owner Maintenance Agreements, except for obligations of the Owner to make payments due thereunder;
provided, that Operator shall act in good faith and exercise reasonable care in connection with the foregoing. Operator shall administer and direct payments under the Owner 

  

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Maintenance Agreements as provided in Article VII hereof. If Operator fails to perform any duties, responsibilities or obligations or exercise any
rights under the Owner Maintenance Agreements as may be reasonably necessary or appropriate in connection with the O&M Services, then Owner reserves the right to perform such duties, responsibilities or obligations or exercise such rights. For
the avoidance of doubt, subject to Owner’s reimbursement obligations hereunder, any and all amounts paid to or received, including constructive receipt by means of setoff or retention of payments owed by Owner, with respect to the exercise of
Owner’s rights under any Owner Maintenance Agreement shall be the sole and exclusive property of Owner; 
 2.1.2.7.4
Consideration for Obligations. Operator hereby acknowledges and agrees that the Base Fee to be paid by the Owner to the Operator encompasses adequate and full consideration for Operator’s obligations hereunder with respect to any Owner
Maintenance Agreements, including with respect to those obligations set forth in this Section 2.1.2.7; 
 2.1.2.7.5 Cooperation. Operator and Owner will cooperate with each other (i) to ensure that each of the Operator and Owner has correct and complete copies of all Owner Maintenance Agreements and all other information relating to
the Owner-Supplied Maintenance Services, and (ii) without limiting the obligations of Operator hereunder, in the performance of all duties, responsibilities and obligations and exercise of all rights under the Owner Maintenance Agreements;

 2.1.2.7.6 Operator Authority. Owner hereby grants to Operator authority to act on behalf of Owner, as agent, in
connection with performing any obligation under or exercising any rights, including with respect to rights to damages and warranties, with respect to the Owner Maintenance Agreements as required pursuant to this Section 2.1.2.7;
provided, that such authority, including the nature and extent thereof, shall solely be that which is necessary or appropriate for the purpose of performing Operator’s obligations with respect to the Owner Maintenance Agreements
hereunder; provided, further, that, upon and during the continuance of any Operator Event of Default, Owner may, at any time and in its sole discretion, revoke or otherwise limit such authority of Operator granted hereby; 

2.1.2.8 Insurance. Operator shall obtain and maintain, for itself and on behalf of Owner, in full force and effect during the
term of this Agreement (or for such longer term as may be required under Schedule B) and enforce all insurance in accordance with, and meeting the requirements set forth in Schedule B, and in all instances naming Owner as the insured
Person and the Administrative Agent on behalf of the Lenders as an additional insured Persons, except as provided in Schedule B. Operator will cause information concerning any reduction, change or 

  

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cancellation of coverage to be promptly furnished to Owner and the Administrative Lender. Operator shall provide copies of all such insurance policies (and
any renewals or replacements of the same) to Owner promptly upon obtaining them. Operator shall take such actions or omit taking such actions that may restrict or limit the coverage of or the ability to make claims with respect to any insurance
required to be obtained and maintained hereunder; 
 2.1.2.9 Taxes. Operator shall direct Owner to pay all Taxes due by
Owner, and Operator shall prepare and file or cause to be filed all returns, certificates, applications or other documents relating thereto, in connection with the Facility and the Facility Site, including those relating to the energy produced and
sold by the Facility and the provision and performance of any and all O&M Services hereunder; provided, that, for the avoidance of doubt, Operator shall be solely responsible for any Taxes levied or otherwise imposed on it in connection
with the provision or performance of O&M Services hereunder. Operator shall provide copies of all such filings, certificates or other documents relating to the payment of Taxes on Owner’s behalf (and any amendments or replacements of the
same) to Owner promptly upon obtaining them; 
 2.1.2.10 Utilities. Operator shall obtain and maintain, and pay or
cause to be paid, all utility services, including communications, that are necessary or appropriate in connection with the operation and maintenance of the Facility and the Facility Site, including all utilities required in connection with any of
the Project Documents or pursuant to any warranties. All such utilities shall, to the extent permitted by Applicable Law, be in the name of Owner, and otherwise Operator shall take all action and do all things necessary or appropriate to permit the
prompt transfer of all such utilities to Owner in the event this Agreement is terminated or Operator is otherwise limited or prohibited from performing or otherwise satisfying its obligations hereunder; 
 2.1.2.11 [RESERVED] 
 2.1.2.12 General Services. Operator shall perform and provide all accounting, human resource, information technology and other similar administrative services that are necessary or appropriate in connection
with the operation and maintenance of the Facility and the Facility Site and the provision and performance of any and all O&M Services hereunder; 
 2.1.2.13 Accounting and Operating Records and Logs. Operator shall maintain accounting and operating records and logs necessary to perform the O&M Services hereunder, including the preparation of reports as
described herein; and 
 2.1.2.14 Other Services. Operator shall provide any and all other routine, normal and
customary administrative on behalf of itself and the Owner that are necessary or appropriate in connection with the operation and 

  

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maintenance of the Facility and the Facility Site, the provision and performance of any and all O&M Services hereunder. 
 2.1.3 Notwithstanding anything contained in this Section 2.1 the Operator shall not be obligated to perform or provide O&M Services in
excess of those supported by the Annual Operating Plan and Budget; provided, that the foregoing shall not relieve Operator of its obligations to perform or provide the O&M Services in conformity with the Annual Operating Plan and Budget
and otherwise in accordance with the requirements hereof. 
 Section 2.2 Standards for Maintenance of the O&M Services. 
 2.2.1 Operator shall be responsible for operation and maintenance means, methods, techniques, sequences, procedures and safety and security programs in
connection with the performance of the O&M Services. Operator shall perform, or cause to be performed, all O&M Services in accordance and in compliance, in all respects, with the Maintenance Standards. 
 2.2.2 Operator shall retain care, custody and control of and bear the responsibility to repair or correct any loss, destruction or damage of or to the
Facility or any component thereof until termination of this Agreement; provided, that in connection with any Casualty Event, Owner shall make available to Operator the proceeds or funds available for Restoration Work in accordance with the
Credit Agreement to the extent that such Casualty Event does not result in the termination of this Agreement. Owner shall not be liable for losses to any of Operator’s materials, equipment or supplies as a result of any event other than
the gross negligence or direct action of Owner. 
 2.2.3 Notwithstanding anything else to the contrary herein, Operator shall perform or
provide, or cause to be performed or provided, all O&M Services in a manner and with the purpose, and take all action and do all things necessary or appropriate, so as to permit the prompt transfer of care, custody and control of the Facility
(in operating condition), the Facility Site, Subcontracts and any Government Approvals held in the name of Operator to Owner in the event this Agreement is terminated or Operator is otherwise limited or prohibited from providing, performing or
otherwise satisfying its obligations hereunder, including with respect to insurance, utilities, leases of any real or personal property, warranties, Governmental Approvals or any other matter. 
 Section 2.3 Facility Objectives; Maintenance Standards. 
 Subject to the occurrence of a Force Majeure Event and normal interruptions arising in connection with routine, normal and customary inspection, maintenance, service, repair and testing, Operator shall provide or perform any and all O&M
Services (i) with the purpose of causing the Facility to achieve the Facility Objectives and (ii) with the purpose of satisfying the Maintenance Standards. 
 Section 2.4 Confirmation of Operator. 
 Operator has received and reviewed the EPC
Agreement and the documents related thereto, including the Project Design Book, the Owner Construction Agreements, the Subcontracts and the Facility Objectives and has also reviewed the terms and conditions of this 

  

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Agreement and the documents related hereto, and, based on the foregoing, hereby confirms and agrees that it has not identified any design, engineering,
scheduling, operating, maintenance, performance or other deficiencies that may adversely affect the ability of Operator to perform or provide the O&M Services in accordance with the Maintenance Standards or to achieve the Facility Objectives.

 Section 2.5 Personnel Standards. 
 Operator shall provide and make available as necessary or appropriate, in accordance with the requirements of the Annual Operating Plan and Budget, the Maintenance Standards and the Facility Objectives, all such labor and professional,
administrative, technical, information technology, engineering, repair, supervisory, managerial or other personnel as are required to perform the O&M Services hereunder. Such personnel shall be qualified, certified and experienced in the duties
to which they are assigned and the O&M Services for which they are to perform or provide hereunder. All individuals employed by Operator in the performance of the obligations under this Agreement shall be the employees of Operator or its
Affiliates, and, without prejudice to the Parties’ rights and obligations with respect to the Annual Operating Plan and Budget, their working hours, rates of compensation and all other matters relating to their employment shall be the
responsibility of Operator and determined solely by Operator. Operator shall retain sole authority, control and responsibility with respect to its employment policy in connection with the performance of its obligations hereunder. 
 Section 2.6 [RESERVED]. 
 Section 2.7 Reports.

 2.7.1 No later than the tenth (10th) day of each month, commencing with the first full calendar month occurring immediately after the O&M Commencement Date, Operator shall provide Owner the following reports
applicable to the prior month, based on the best data available at the time of preparation of such report and subject to revision based on acquisition of more accurate data: 
 2.7.1.1 monthly production reports, supported with appropriate documentation, showing the quantity of electricity generated and sold by
the Facility; 
 2.7.1.2 monthly operational reports on Facility uptime, major repairs, key operating parameters, and other
operational details materially affecting plant operations; 
 2.7.1.3 monthly income and operating expense reports, including
(insofar as is reasonably practicable given Operator’s current reporting capabilities) a line-by-line comparison of actual income and expenses to the Annual Operating Plan and Budget; 
 2.7.1.4 monthly safety reports, summarizing the safety record for the month and for the Operating Year to date, as required by Applicable
Laws; 
  

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 2.7.1.5 monthly environmental reports on environmental incidents, including spills and
releases where reported, or required to be reported, to a Governmental Authority, including Operating Year to date data, with respect to the Facility, the Facility Site, the O&M Services provided hereunder, Operator or the Owner; 
 2.7.1.6 monthly reports concerning disputes, allegations, inspections, inquiries, citations, notices of violation, penalties assessed or
issued and similar actions by or with any Governmental Authority with respect to the Facility, the Facility Site, the O&M Services provided hereunder, Operator or the Owner; 
 2.7.1.7 monthly reports on litigation or third party claims, disputes, or actions, or notice of intent to sue, threatened or filed, with
respect to the Facility, the Facility Site, the O&M Services provided hereunder, Operator or the Owner; 
 2.7.1.8 monthly
reports on any warranty claims with respect to the Facility or Equipment and Materials comprising the Facility; 
 2.7.1.9
monthly reports updating the status of any item or matter reported pursuant to Section 2.7.2 or 2.7.3 which is not otherwise encompassed by any of the foregoing monthly report; 
 2.7.1.10 monthly reports concerning disputes or other disagreement with respect to any of the Project Documents or any other agreement
relating to the Facility or the Facility Site; and 
 2.7.1.11 monthly reports as to any material information concerning any
new or significant aspect, event or circumstance with respect to the Facility, the Facility Site, the O&M Services provided hereunder or Operator or the Owner. 
 2.7.2 In addition to the reports described in Section 2.7.1, from and after the O&M Commencement Date, Operator shall provide Owner with written reports detailing any of the following events within
fifteen (15) days of such event: 
 2.7.2.1 incident reports with respect to any matter, event or circumstance giving
rise to a reportable item under Section 2.7.1.5, 2.7.1.6 or 2.7.1.7; and 
 2.7.2.2 incident reports
with respect to any other material information concerning any new or significant aspect, event or circumstance with respect to the Facility, the Facility Site, the O&M Services provided hereunder or Operator or the Owner. 
 2.7.3 In addition to the reports described in Sections 2.7.1 and 2.7.2, from and after the O&M Commencement Date, Operator shall report
to Owner any of the following events immediately or as soon as practical, but not more than eight hours after occurrence of such event: 
  

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 2.7.3.1 any incident involving significant injury or death of an employee, contractor or
other Person on the Facility Site or during the course of providing O&M Services hereunder: 
 2.7.3.2 any event or
circumstance with respect to the Facility, the Facility Site, the O&M Services provided hereunder or Operator or the Owner that results or could likely result in material noncompliance with any Applicable Laws; and 
 2.7.3.3 any significant event (not included in Section 2.7.3.1 or 2.7.3.2 above) with respect to the Facility, the
Facility Site, the O&M Services provided hereunder or Operator or the Owner that results or could likely result in (a) Owner having promptly to file a report with or otherwise give notice to any Governmental Authority of such an event,
(b) Owner suffering or incurring a material loss or liability or (c) the Facility or Facility Site suffering a material Casualty Event. 
 2.7.4 As soon as available, and in any event within sixty (60) days after the end of each Operating Year, Operator shall provide to Owner an annual operating report, addressing the matters set forth in Section 2.7.1 above,
for such Operating Year. 
 2.7.5 Operator shall prepare reports, certificates and other documents that may from time to time be required by
Owner, pursuant to any Project Documents or pursuant to any Financing Documents. 
 2.7.6 Owner may, from time to time, request reasonable
changes to the format of any report required under this Section 2.7. If not unduly burdensome or inconsistent with Operator’s operations, the relevant revised format shall be adopted by Operator as soon as Operator is able to
reasonably accommodate such changes. 
 Section 2.8 No Liens or Encumbrances. 
 From and after the O&M Commencement Date, Operator shall keep and maintain the Facility free and clear of all Liens resulting from the action of
Operator or the O&M Subcontractors or work done at the request of Operator, including the provision or performance of any of the O&M Services hereunder, except for any Liens arising by operation of Applicable Laws for amounts not yet due
under this Agreement and any Liens relating to undisputed amounts due and payable to Operator under this Agreement that have not been properly paid. 
 Section 2.9 Emergency Action. 
 Upon the occurrence of an Emergency Condition occurring from and after the O&M
Commencement Date, Operator shall promptly notify Owner of such Emergency Condition by telephone, facsimile transmission or in person, with confirmation in writing to be provided to Owner within one (1) Business Day describing in reasonable
detail the nature and extent of the Emergency Condition, the steps taken by Operator in response to such Emergency Condition and the anticipated duration of such Emergency Condition. Operator shall take prompt action in the exercise of its
reasonable judgment to minimize the effect or remove the existence of such 

  

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Emergency Condition in accordance with Applicable Laws, the Maintenance Standards and Prudent Practices; provided, however, that if alternative
actions are available with respect to responding to any Emergency Condition, Operator shall take such action that would, in its reasonable judgment, have the least adverse effect on the Facility and the Facility Site. 
 Section 2.10 O&M Manual. 
 Operator shall
maintain and periodically update the O&M Manual in accordance with the requirements of the Project Documents, Applicable Laws, the Maintenance Standards and Prudent Practices. 
 Section 2.11 No Action. 
 Operator shall not take any action that would (i) invalidate any
warranty or service contract that runs to Owner under any Project Document or other agreement relating to the Facility, (ii) release any contractor or supplier from its obligations under any such agreement, (iii) give rise to any claim by
any contractor or supplier against Owner not otherwise available to such contractor or supplier, or (iv) waive any right of Owner under any Project Document or other agreement relating to the Facility, other than in the best interest of the
Owner; provided, however, that any action by Operator taken in accordance with Applicable Laws or Prudent Practices in connection with or in response to an Emergency Condition in accordance with Section 2.9 shall not be
deemed to be a violation of this Section 2.11. 
 Section 2.12 Cooperation. 
 From and after the O&M Commencement Date and during the provision or performance of any O&M Services hereunder, Operator shall, or shall cause any
employee, service provider or other Person acting at its direction or under its supervision to, cooperate with Contractor for the purpose of achieving Final Completion under the EPC Agreement in accordance with the requirements thereof, and
shall otherwise cooperate with any Person providing or performing Work or other services pursuant to any Construction Document. In accordance with the foregoing, Operator shall not do, or cause to be done, any action or omit to take any action that
would have the effect of hindering or otherwise adversely affecting the obligations of the Contractor under the EPC Agreement, or any other Person under any Construction Document, in connection with achieving Final Completion in accordance
with the requirements thereof. 
 From and after the O&M Commencement Date and during the provision or performance of any O&M
Services hereunder, and notwithstanding anything else to the contrary herein, Operator shall, or shall cause any employee, service provider or other Person acting at its direction or under its supervision to, cooperate with any Person performing or
providing any services with respect to the Facility or the Facility Site under any Maintenance Document or any other agreement relating to the operation and maintenance of the Facility or the Facility Site. 
 Section 2.13 Affiliate Contracts. 
 With regards
to the provision or performance of any O&M Services, Operator shall not enter into any contract, agreement or other obligation whether written or oral, with any Affiliate of Operator unless such contract, agreement or other obligation
(i) contains market terms, (ii)

  

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provides for payment obligations thereunder, including as to indemnification or any other liability, only for reasonable out-of-pocket fees, costs and
expenses incurred in connection with performing or providing O&M Services in accordance with this Agreement and (iii) otherwise does not contain any payment obligation that would result in a profit for such Affiliate or any other Person.

 ARTICLE III 
 RESPONSIBILITIES OF OWNER 
 Section 3.1 General. 
 Owner shall furnish, or cause to be furnished, to Operator, at Owner’s expense, the information, services, materials and other items described in
this Article III. All such items shall be made available at such times and in such manner as may be reasonably required for the expeditious and orderly performance of O&M Services by Operator hereunder. 
 Section 3.2 O&M Manual. 
 Owner shall provide
to Operator the O&M Manual on or promptly after receipt thereof from the Contractor pursuant to the EPC Agreement. 
 Section 3.3
Facility. 
 Upon the O&M Commencement Date, Owner shall grant to Operator unrestricted access to the Facility and Facility site
subject to the terms and conditions of this Agreement. 
 Section 3.4 Contractor-Supplied Items. 
 Owner shall make available to Operator such information and services relating to operation and maintenance of the Facility and Facility Site as have been
or are furnished to Owner pursuant to any Construction Documents, including training and training manuals related to the operation and maintenance of the Facility. 
 Section 3.5 Technical Information and Manuals. 
 Owner shall deliver to Operator, as soon as practicable, copies of any
equipment manuals, system descriptions, system operating instructions, equipment maintenance instructions and pertinent design documentation, including the Project Design Book, developed by any contractor or supplier with respect to the Facility,
that have been or are provided to Owner pursuant to any Construction Documents. At all times after the O&M Commencement Date, such materials shall be under the care and custody of Operator; provided, however, that (i) Operator
shall update such materials as may be necessary or appropriate from time to time, (ii) Operator shall maintain such materials in as good a condition as when such materials are delivered to Operator, subject to normal wear and tear, and
(iii) Owner and its employees and contractors shall have access at all reasonable times to such materials in the possession of Operator. 
  

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 ARTICLE IV 
 REPRESENTATIVES OF THE PARTIES 
 Section 4.1 Representative of Operator. 
 4.1.1 Appointment. Prior to the commencement of the first Operating Year, Operator shall appoint an individual, such individual to be approved in
writing by Owner, which approval shall not be unreasonably withheld, conditioned or delayed, which individual will direct, oversee and manage Operator’s resources and have full responsibility for the provision and performance of all O&M
Services hereunder and all Facility operations and administration and shall be authorized and empowered to act for and on behalf of Operator on all matters concerning this Agreement and its obligations hereunder, other than any amendments,
modifications or waivers of the terms and conditions of this Agreement (the “Plant Manager”). Operator shall notify Owner in writing of any proposed replacement of the Plant Manager, and such replacement Plant Manager shall be
subject to the prior written approval of Owner, which approval shall not be unreasonably withheld or delayed. The Operator shall, when proposing any Plant Manager to Owner, provide reasonable information about the proposed Plant Manager’s
qualifications, certifications and experience. 
 4.1.2 Removal of Plant Manager. Owner may require Operator to remove and replace the
Plant Manager at any time and from time to time if Owner determines in its reasonable discretion that cause exists for such removal, which cause shall be specified in reasonable detail to Operator. 
 Section 4.2 Representative of Owner. 
 Prior to
the commencement of the first Operating Year, Owner shall appoint an individual, who shall be authorized and empowered to act for and on behalf of Owner on all matters concerning this Agreement and its obligations hereunder, other than any
amendments, modifications of the terms and conditions of this Agreement (the “Asset Manager”). Owner shall notify Operator in writing following appointment of the Asset Manager and any replacement Asset Manager. 
 ARTICLE V 
 LIMITATIONS ON
AUTHORITY 
 Section 5.1 General Limitations. 
 Notwithstanding any provision in this Agreement to the contrary, unless (i) previously approved in the Annual Operating Plan and Budget, (ii) performed in compliance with the requirements of the O&M
Manual and the Maintenance Standards, or (iii) otherwise previously approved in writing by Owner, Operator shall not (and shall cause any employees, personnel or other Persons acting pursuant to or under the direction, oversight or management
of the Operator not to): 
 5.1.1 Disposition of Assets. Sell, lease, pledge, mortgage, encumber, convey, or make any license, exchange
or other transfer or disposition of any Equipment and Materials or any other property or assets of Owner, including any Equipment and Materials comprising the 

  

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Facility or for which Owner has provided payment with respect thereto or which otherwise are intended to be the property of the Owner in connection with the
O&M Services provided or performed hereunder. 
 5.1.2 Liens. Take any action or do any thing to (i) create, or cause the
creation or imposition of, any Lien on any property or assets of the Owner except in accordance with the Financing Documents, or (ii) release, or cause the release or waiver of, any Lien created with respect to the property and assets of the
Owner in favor of the Administrative Agent pursuant to the Financing Documents. 
 5.1.3 Expenditures. (i) Incur a Reimbursable
Cost or (ii) acquire on a Reimbursable Cost basis any Equipment and Materials, in each case, except in conformity with the Annual Operating Plan and Budget; provided, however, that the foregoing restriction shall not apply if
(x) in the reasonable judgment of Operator, such incurrence or acquisition was reasonably necessary to minimize or mitigate the effect, or remove the existence, of an Emergency Condition as required by Section 2.9, or (y) the
aggregate amount of all Reimbursable Costs made with respect to any Operating Year does not exceed by one hundred and ten percent (110%) the total stated amount of the Annual Operating Plan and Budget with respect to such Operating Year.

 5.1.4 Lawsuits and Settlements. Settle, compromise, assign, pledge, transfer, release or consent to the settlement, compromise,
assignment, pledge, transfer or release of, any Claim, suit, debt, demand or judgment against or due by, Owner or Operator, the cost of which, in the case of Operator, would be a Reimbursable Cost hereunder, or submit any such Claim, dispute or
controversy to arbitration or judicial process, or stipulate in respect thereof to judgment, or consent to the same. 
 5.1.5 Transactions
on Behalf of Owner. Engage in any other transaction on behalf of Owner except as expressly permitted hereby. 
 5.1.6 Changes in
Configuration. Other than in response to an Emergency Condition (which shall be undertaken in accordance with Section 2.9), modify, alter or otherwise change the Facility or any component thereof in a manner that adversely affects,
in any material respect, the Facility Objectives or causes the Facility to fail to comply with the Maintenance Standards. 
 5.1.7 Other
Actions. Except as otherwise expressly permitted hereunder (or with the prior written consent of the Owner), take, or agree to take, do, or agree to do, or otherwise direct or cause, either directly or indirectly, the taking of any action that,
either individually or in conjunction with any other actions, events or circumstances, (i) could reasonably be expected to have a material adverse affect on the business, operations or financing condition of the Owner or the Facility,
(ii) does not comply or otherwise departs from the applicable Annual Operating Plan and Budget, Applicable Law, the Maintenance Standards, Prudent Practices or the Facility Objectives, or (iii) is not in the best interests of the Owner or
the Facility. 
  

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 Section 5.2 Execution of Documents. 
 Except as expressly permitted hereunder (or with the prior written consent of the Owner), Operator shall not have the power and authority to execute any
agreement, contract or other document, or waive, amend, modify or terminate any existing contract or document, in the name of Owner or as Owner’s agent, and Operator shall not represent to any other Person that it has such power or authority,
and any agreement, contract or other document so entered into by Operator, whether or not the benefit therefrom runs to the Owner, shall not bind Owner and shall be the sole responsibility of the Owner, including as to cost and expenses thereunder.

 ARTICLE VI 
 PLANS,
PROCEDURES AND REPORTING 
 Section 6.1 Annual Operating Plan and Budget. 
 Subject to Section 6.1.6, Operator and Owner shall prepare and agree upon an Annual Operating Plan and Budget for each Operating Year during
the term of this Agreement as follows: 
 6.1.1 Adoption. 
 6.1.1.1 Subject to Sections 6.1.4 and 6.1.5, not less than ninety (90) days prior to the beginning of each Operating
Year, Operator shall prepare and submit to Owner, with a copy to the Administrative Lender, a proposed Annual Operating Plan and Budget, comprised of the Facility Plan and Budget and the Wellfield Plan and Budget, and, for informational purposes
only, a three (3) year projection on an annual basis of such Annual Operating Plan and Budget. Owner shall promptly review Operator’s proposed Annual Operating Plan and Budget upon submission to the Owner and may, by written request,
propose changes, additions, deletions and modifications. Operator and Owner will then meet and, in good faith, attempt to agree upon, subject to the requirements of Sections 6.1.4 and 6.1.5, a final Annual Operating Plan and Budget
with respect to the applicable Operating Year by the date which is forty-five (45) days prior to the commencement of such Operating Year. Such final Annual Operating Plan and Budget shall remain in effect throughout the applicable Operating
Year, subject to updates and adjustments as provided in this Agreement and to such other updating, revision and amendment as may be proposed by either Party and consented to in writing by the other Party in accordance with this Agreement.

 6.1.1.2 Any actions proposed under the Annual Operating Plan and Budget, including any update, revision or amendment
thereto, shall be consistent with the O&M Manual and Operator’s obligations as set forth in this Agreement, including those relating to Maintenance Standards and the Facility Objectives, and subject to the requirements of Sections
6.1.4 and 6.1.5. Operator shall notify Owner as soon as reasonably possible of any material deviations or discrepancies from the projections contained in the Annual Operating Plan and Budget. 
  

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 6.1.1.3 Following the occurrence of a Force Majeure Event that results in increased costs
to Operator, Operator shall be entitled to a reasonable adjustment to the Annual Operating Plan and Budget, which adjustment shall be made as soon as reasonably practicable under the circumstances, reflecting the reasonable value of any such
increased costs from such event. In the event of Force Majeure that results in decreased costs to Operator, Owner shall be entitled to a reasonable adjustment in the Annual Operating Plan and Budget, which adjustment shall be made as soon as
reasonably practicable under the circumstances, reflecting the reasonable value of any such decreased costs from such event. 
 6.1.1.4 Each Annual Operating Plan and Budget shall include an annual maintenance program for the relevant Operating Year and, for informational purposes only, a three (3) year projection of the maintenance program. Such annual
maintenance program portion of the Annual Operating Plan and Budget shall be subject to review and approval of Owner as provided in this Section 6.1. 
 6.1.2 Failure to Adopt. If, forty-five (45) calendar days prior to the commencement of any Operating Year, the Parties are unable to reach agreement or the requirements of Sections 6.1.4 and
6.1.5 are not satisfied concerning all or any portion of the Annual Operating Plan and Budget with respect to such Operating Year as to which agreement has not been reached or for which approval has not been provided pursuant to Sections
6.1.4 or 6.1.5 (i.e., the specific sections, components or line items thereof), then all or such portion shall be determined by the Owner, subject to the consent of the Administrative Lender; provided, that if all or any
portion of the Annual Operating Plan and Budget with respect to any Operating Year is not finally determined in accordance with the requirements hereof upon commencement of such Operating Year, then such portions shall be, until final determination
can be achieved in accordance with the requirements, hereof, determined by reference to the corresponding portion of the immediately preceding Annual Operating Plan and Budget, with the relevant portion therein adjusted to reflect the CPI Adjustment
and shall be effective for any purpose hereunder commencing on the first day of such Operating Year. 
 6.1.3 Notice of Excessive
Costs. If, at any time during the performance of its obligations, Operator becomes aware that the aggregate amount of all Reimbursable Costs, with respect to any Operating Year, exceeds or will exceed the amount specified in the Annual Operating
Plan and Budget, with respect to such Operating Year, by greater than ten percent (10%), Operator shall promptly provide Owner notice of such event with detail and explanation. 
 6.1.4 Consent of Independent Engineer. Prior to adoption with respect to any Operating Year or any update or amendment thereto, the Annual
Operating Plan and Budget shall be submitted to the Independent Engineer for the Independent Engineer’s prior written consent with respect to the portion of the Annual Operating Plan and Budget comprised of the Facility Plan and Budget, which
consent shall not be unreasonably withheld, conditioned or delayed. 
  

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 6.1.5 Consent of Geothermal Engineer. Prior to adoption with respect to any Operating Year or any
update or amendment thereto, the Annual Operating Plan and Budget shall be submitted to the Geothermal Engineer for the Geothermal Engineer’s prior written consent with respect to the portion of the Annual Operating Plan and Budget comprised of
the Wellfield Plan and Budget, which consent shall not be unreasonably withheld, conditioned or delayed. 
 6.1.6 First Annual Operating
Plan and Budget. Notwithstanding anything else herein to the contrary, the Annual Operating Plan and Budget(s) with respect to the one or more Operating Years (or any portion thereof) occurring from and after the O&M Commencement Date to and
including December 31, 2009 shall be the Annual Operating Plan and Budget attached hereto as Exhibit D in writing, in part, and electronically, in part; provided, that such Annual Operating Plan and Budget shall be adjusted by
Owner, subject to the consent of the Administrative Lender, to reflect the Actual Facility Characteristics if the Target Facility Characteristics are not achieved by Final Completion. 
 Section 6.2 Availability of Operating Data and Records. 
 Operator shall make data prepared and
maintained pursuant to Section 3.5 available to Owner and, at Owner’s request, its designee (i) as may be required under the Transaction Documents, and (ii) upon any reasonable request at any time by Owner, on any Business
Day during regular business hours, and, at any time during an Emergency Condition. 
 Section 6.3 Books and Records. 
 6.3.1 Operator shall maintain complete and accurate financial and accounting books and records, including receipts, notes, and records that are pertinent
to the performance of the O&M Services and the operation and maintenance of the Facility. 
 6.3.2 Operator shall retain all such books
and records for a minimum of three years following the end of the Operating Year to which such books and records apply. 
 ARTICLE VII 

 REIMBURSABLE COSTS AND COMPENSATION TO OPERATOR 
 Subject to the other terms and conditions hereof, Owner shall pay Reimbursable Costs incurred on behalf of the Facility and the Owner and pursuant to the O&M Services hereunder in accordance with the terms of
Section 7.1.2 below. Additionally, as compensation to Operator for the performance of the O&M Services hereunder, subject to the other terms and conditions hereof, Owner shall pay Operator, in the manner and at the times specified in
Section 7.2, the Base Fee. All O&M Covered Costs shall be borne and paid by Operator for its own account. 
 Section 7.1 Reimbursable
Costs. 
 Subject to Section 7.1.2, Owner shall pay Reimbursable Costs directly from its own accounts or shall reimburse
Operator for Reimbursable Costs paid for by Operator on behalf of Owner. 
  

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 7.1.1 Subject to Section 2.13, “Reimbursable Costs” are, with respect to any
Operating Year, those actual out-of-pocket (without mark-up) fees, costs and expenses, other than O&M Covered Costs, incurred in connection with Operator’s performance of the O&M Services with respect to such Operating Year, which are
not to exceed without the consent of the Owner one hundred ten percent (110%) of the aggregate budget set forth in the Annual Operating Plan and Budget for such Operating Year, and generally include the following: 
 7.1.1.1 Payroll and Related Personnel Costs. Payroll costs and payroll expenses, other than O&M Covered Costs, incurred by
Operator and Operator’s Affiliates for employees providing or performing O&M Services hereunder in accordance with its established personnel policies, including all salaries and wages (including any bonuses and other incentives) of
personnel involved directly in the performance of the O&M Services hereunder, and all employee benefits and allowances for housing, vacation, sick leave, holidays, and company portion of employee insurance, social security and retirement
benefits at Operator’s then current established rates and all payroll taxes, premiums for public liability and property damage liability insurance, workers’ compensation and employer’s liability insurance and all other insurance
premiums measured by payroll costs, and other contributions and benefits imposed by any Applicable Laws. Prior to the commencement of each Operating Year, Operator shall notify Owner of its established rate for payroll expenses for personnel for the
following Operating Year. Operator’s established rate for payroll expenses is intended to cover all employee benefits and allowances for housing, vacation, sick leave, holidays, company portion of employee insurance, social security and
retirement benefits, and payroll taxes, premiums for public liability and property damage liability insurance, workers’ compensation and employer’s liability insurance, and any other insurance premiums measured by payroll costs, and other
employee contributions and benefits imposed by any Applicable Laws. 
 7.1.1.2 Other Reimbursable Costs. All other
fees, costs and expenses incurred in the performance of the O&M Services hereunder, regardless of whether those O&M Services are rendered at the Facility or at Operator’s home office, including such fees, costs and expenses as:

 7.1.1.2.1 actual costs incurred or reimbursed to employees for travel and subsistence of personnel engaged in the
performance of the O&M Services hereunder; 
 7.1.1.2.2 the cost of all Equipment and Materials and Support used or
consumed in the performance of the O&M Services hereunder; 
 7.1.1.2.3 the cost of Equipment and Materials installed in
the Facility (x) in accordance with the requirements of this Agreement or (y) as recommended by Operator and approved by Owner; 
 7.1.1.2.4 the cost of computer equipment and associated voice and data communication at the Facility; 
  

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 7.1.1.2.5 telephone costs for calls originating from locations other than the home
office; 
 7.1.1.2.6 all costs associated with consultants, subcontracts, and other outside services as recommended by
Operator and approved by Owner; 
 7.1.1.2.7 all Taxes incurred with respect to the Facility or the O&M Services rendered
hereunder, other than Taxes based upon the gross or net income (including, but not limited to, income tax withholding and franchise taxes) of Operator; 
 7.1.1.2.8 the cost of insurance premiums for policies obtained or maintained by Operator pursuant to Section 2.1.2 of this Agreement and, except as otherwise provided in Section 11.3, any
deductibles relating thereto; 
 7.1.1.2.9 all costs associated with records management, including preparation of materials,
equipment, photocopying and operator time, at Operator’s established rates; and 
 7.1.1.2.10 any and all other
Reimbursable Costs not specifically set forth herein incurred by Operator in connection with the performance of the O&M Services hereunder. 
 All costs referenced in subsections 7.1.1.2.4, 7.1.1.2.5 and 7.1.1.2.9 shall be subject to adjustment in accordance with Operator’s established policies and procedures, upon approval of Owner, which approval shall
not be unreasonably withheld, conditioned or delayed. 
 7.1.2 Payment for O&M Services. 
 7.1.2.1 O&M Funding Request. Upon the O&M Commencement Date and, thereafter, no fewer than three (3) Business Days
prior to each Quarterly Transfer Date, commencing with the Full Revenue QTD, Operator shall prepare and submit to Owner an O&M Funding Request for the Reimbursable Costs (or reasonable estimates thereof) and Base Fee, as applicable, that, with
respect to the O&M Funding Request submitted on the O&M Commencement Date, have been incurred or that are expected to be incurred thereafter and, with respect to any other subsequent O&M Funding Request, are expected to be incurred
during the calendar quarter to which such other Quarterly Transfer Date relates; provided, that with respect to the O&M Funding Request submitted on the O&M Commencement Date, such O&M Funding Request shall relate to the period
from and including the O&M Commencement Date to but excluding the anticipated Full Revenue QTD. On the O&M Commencement Date, with respect to the O&M Funding Request submitted on the O&M Commencement Date, and within three
(3) Business Days from receipt of any O&M Funding Request, with respect to any subsequent O&M Funding Request, Owner shall make funds available to 

  

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pay such Reimbursable Costs and Base Fee as specified in the applicable O&M Funding Request in accordance with the terms and conditions of Account and
Security Agreement. 
 7.1.2.2 O&M Payment Request. Subject to the other terms and conditions hereof, upon the
O&M Commencement Date and, thereafter, no fewer than three (3) Business Days prior to any date upon which Reimbursable Costs and/or the Base Fee shall become due and payable, Operator shall submit Owner an O&M Payment Request setting
forth (i) the Reimbursable Costs to be paid by the Owner, (ii) the Base Fee to be paid by the Owner, (iii) reasonably detailed description of the components and items comprising the Reimbursable Costs, associating such component or
item to the corresponding line item of the Annual Operating Plan and Budget, and (iv) instructions for payment of such amounts to the Operator. Subject to the other terms and conditions hereof and the Account and Security Agreement,
Owner shall pay, or cause the payment of, any Reimbursable Costs and Base Fee pursuant to an O&M Payment Request, with respect to the O&M Payment Request submitted on the O&M Commencement Date, on the O&M Commencement Date and, with
respect to any other O&M Payment Request, within three (3) Business Days of Operator’s submission of such other O&M Payment Request. 
 7.1.3 Disputed Invoices. 
 7.1.3.1 Prior to making payment as required by this
Section 7.1, Owner may take written exception to any O&M Payment Request rendered by Operator for any expenditure or any part thereof, on the ground that the same was not properly a Reimbursable Cost and, in such event, Owner may
deduct the amount to which exception has been taken from the amount payable pursuant to the relevant invoice. 
 7.1.3.2 If
the amount as to which such written exception is taken, or any part thereof, is ultimately determined in accordance with Section 7.1.1 to be a Reimbursable Cost, such amount or portion thereof (as the case may be) shall be payable by
Owner to Operator together with interest as provided in Section 7.3 during the period from the date on which the Reimbursable Cost was incurred by Operator to the date of actual payment by Owner. 
 7.1.3.3 Notwithstanding the payment of any Reimbursable Cost pursuant to this Section 7.1, Owner shall remain entitled to
conduct a subsequent audit and review of all Reimbursable Costs paid or reimbursed by Owner pursuant to this Agreement for a period of two (2) years from and after the close of the calendar year in which such costs were incurred. If Owner
determines that any amount previously paid by Owner did not constitute a due and payable item of Reimbursable Costs (it being understood that any standard rates and allowances on which such Reimbursable Costs are based shall not be subject to review
or dispute), Owner may submit a claim to Operator indicating the amount and reason the Reimbursable Costs is believed not to be due and payable hereunder. If 

  

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Operator agrees with Owner, Operator will remit the amount to Owner within thirty (30) days together with interest thereon at the Late Payment Date for
the period from the date on which payment by Owner was made to Operator that was not otherwise due and payable hereunder and the date of actual repayment by Operator to Owner. 
 7.1.3.4 Operator shall keep and maintain complete and accurate books, records and receipts (in accordance with the generally accepted
accounting principles consistently applied) of all costs and expenses incurred by it in connection with this Agreement and the performance of its obligations hereunder and shall, to the extent available, obtain receipts for all expenditures in
connection with the O&M Services. Operator shall, upon request of Owner, make its books, records and receipts of such costs and expenses available to Owner, and Owner shall have the right, upon reasonable advance notice, to audit and make
copies, at its own expense, of such books, records and receipts for purposes of verifying the Reimbursable Costs and other costs and expenses reported by Operator, and to make such information available to Owner’s personnel or its advisors on a
confidential basis for the purpose of evaluating the information. 
 Section 7.2 Base Fee. 
 Commencing with the first Operating Year, Owner shall pay Operator for O&M Services performed under this Agreement an annual fee (the “Base
Fee”) equal to $90,000 per year (prorated for partial Operating Years), payable in arrears in equal quarterly installments on the O&M Due Date immediately following the applicable quarter during each Operating Year. 
 Section 7.3 Late Payment. 
 From and after the
date upon which the Owner fails to pay any amount to Operator required to be paid pursuant to Section 7.1.2 by the due date for such amount, such unpaid amount shall accrue interest each calendar day at the Late Payment Rate from the due
date, or, in the case of a Reimbursable Cost, the date on which such cost was incurred by Operator, until such amount (plus accrued interest) is paid in full; provided, that this provision shall not be applicable prior to the Financing
Expiration Date or Financing Conversion Date. 
 Section 7.4 Payment for Owner Supplied Maintenance. 
 In any O&M Funding Request submitted by Operator to Owner, Operator shall set forth payments (or reasonable estimates thereof) that, with respect to
the O&M Funding Request submitted on the O&M Commencement Date, have become due and been paid or that are expected to become due thereafter and, with respect to any other subsequent O&M Funding Request, are to become due under any Owner
Maintenance Agreement during the calendar quarter to which such other O&M Funding Request relates. On the O&M Commencement Date, with respect to the O&M Funding Request submitted on the O&M Commencement Date, and within three
(3) Business Days from receipt of any O&M Funding Request, with respect to any other subsequent O&M Funding Request, Owner shall make funds available to pay such amounts in accordance with the terms and conditions of the Account and
Security Agreement. 
  

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 Upon the O&M Commencement Date and, thereafter, no fewer than three (3) Business Days prior to
any amount becoming due under any Owner Maintenance Agreement, Operator shall submit to Owner an O&M Payment Request setting forth (i) the amount to be paid by Owner (the “Owner Maintenance Agreement Payment”),
(ii) the Owner Maintenance Agreement to which such Owner Maintenance Agreement Payment relates, (iii) the services performed under such Owner Maintenance Agreement relating to such payment, and (iv) instructions for payment of such
amounts directly to the counterparty under such Owner Maintenance Agreement. Subject to the other terms and conditions hereof and the Account and Security Agreement, Owner shall pay any Owner Maintenance Agreement Payment in accordance with
the corresponding O&M Payment Request directly to the counterparty. 
 Section 7.5 Payment for Amounts Due Under Site Documents. 

In any O&M Funding Request submitted by Operator to Owner for the periods occurring after the O&M Commencement Date, Operator shall set forth
payments (or reasonable estimates thereof) that, with respect to the O&M Funding Request submitted on the O&M Commencement Date, have become due and been paid or that are expected to become due thereafter and, with respect to any other
subsequent O&M Funding Request, are to become due under any Site Documents during the calendar quarter to which such O&M Funding Request relates. On the O&M Commencement Date, with respect to the O&M Funding Request submitted on the
O&M Commencement Date, and within three (3) Business Days from receipt of any O&M Funding Request, with respect to any other subsequent O&M Funding Request, Owner shall make funds available to pay such amounts in accordance with the
terms and conditions of the Account and Security Agreement. 
 Upon the O&M Commencement Date and, thereafter, no fewer than three
(3) Business Days prior to any amount becoming due under any Owner Maintenance Agreement, Operator shall submit to Owner an O&M Payment Request setting forth (i) the amount to be paid by Owner (the “O&M Site Document
Payment”), (ii) the Site Document to which such payment relates, and (iii) instructions for payment of such amounts directly to the counterparty under such Site Document. Subject to the other terms and conditions hereof and the
Account and Security Agreement, Owner shall pay any O&M Site Document Payment in accordance with the corresponding O&M Payment Request directly to the counterparty under such O&M Site Document. 
 Section 7.6 Payments for Other Amounts Due From Owner. 
 In any O&M Funding Request submitted by Operator to Owner, Operator shall set forth payments (or reasonable estimates thereof) that, with respect to the O&M Funding Request submitted on the O&M Commencement Date, have become due
and been paid or are expected to become due thereafter and, with respect to any other subsequent O&M Funding Request, are to become due under any other document or agreement relating to the operation and maintenance of the Facility and the
Facility Site, which are otherwise specifically contemplated in the Annual Operating Plan and Budget, during the calendar quarter to which such O&M Funding Request relates. On the O&M Commencement Date, with respect to the O&M Funding
Request submitted on the O&M Commencement Date, and within three (3) Business Days from receipt of any O&M Funding Request, with respect to any other subsequent O&M Funding Request, 

  

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Owner shall make funds available to pay such amounts in accordance with the terms and conditions of the Account and Security Agreement. 
 Upon the O&M Commencement Date and, thereafter, no fewer than three (3) Business Days prior to any amount becoming due under such document or
agreement, Operator shall submit to Owner an O&M Payment Request setting forth (i) the amount to be paid by Owner (the “O&M Other Payment”), (ii) the document or agreement to which such payment relates, and
(iii) instructions for payment of such amounts directly to the counterparty under such other document or agreement. Subject to the other terms and conditions hereof and the Account and Security Agreement, Owner shall pay any O&M
Other Payment in accordance with the corresponding O&M Payment Request directly to the counterparty under such other document or agreement. 
 ARTICLE VIII 
 TERMINATION 
 Section 8.1 Term. 
 The initial term of this Agreement shall commence on the Effective Date and continue through the
Final Maturity Date (the “Initial Expiration Date”). This Agreement shall be automatically extended for additional five (5) year terms following the Initial Expiration Date (the last day of any such extension period being
referred to as the “Extended Expiration Date”), unless terminated by either Party by written notice at least ninety (90) days prior to the applicable Initial Expiration Date or Extended Expiration Date, as the case may be.
Notwithstanding the foregoing, this Agreement is subject to earlier termination pursuant to Sections 8.2 and 8.3. 
 Section 8.2
Termination by Owner. 
 8.2.1 Termination for Owner’s Convenience. Owner shall have the right to terminate this Agreement
or any part hereof for its sole convenience at any time by giving sixty (60) days prior written notice thereof to Operator; provided, that the Required Lenders shall have provided their written consent with respect thereto. 

8.2.2 Termination by Owner for Cause. If an Operator Event of Default occurs, then Owner may, without prejudice to any other right or remedy
Owner may have hereunder, at any time terminate this Agreement, such termination becoming effective upon notice to Operator. For purposes hereof, an “Operator Event of Default” will be deemed to have occurred if: 
 8.2.2.1 Operator suspends or abandons the Work; 
 8.2.2.2 any Bankruptcy of Operator; 
 8.2.2.3 (i) Operator consolidates or amalgamates with, or merges with or into, or transfers all or substantially all of its assets to another entity; or (ii) the consummation of any transaction the result of
which is that any Person becomes 

  

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the beneficial owner, directly or indirectly, of more than fifty percent of (50%) Operator’s capital stock; 
 8.2.2.4 Operator fails to make payment to O&M Subcontractors or any other third party to whom payment is due and payable in connection
with the O&M Services after Operator has received payment hereunder related to such O&M Services; 
 8.2.2.5 default
by Operator of the payment of any undisputed amount due to Owner hereunder that is not cured within thirty (30) days after receipt by Operator of written notice from Owner of such default; 
 8.2.2.6 Operator breaches any obligation under this Agreement and such breach continues beyond any cure period therefor specified herein,
or if no such period is specified in connection therewith, thirty (30) days; or 
 8.2.2.7 Operator incurs the maximum
liability under Section 11.3 for two (2) consecutive years or for three (3) years in any five (5) consecutive year period. 
 8.2.3 Termination by Owner for Casualty Event. If a Casualty Event occurs that is a Total Loss as determined in accordance with Section 2.6.1.2(2) of the Credit Agreement, then this Agreement
shall automatically terminate upon payment by Owner of the Redemption Amount, in full, in accordance with Section 2.6 of the Credit Agreement. 
 8.2.4 Termination by Owner upon Change of Control. Owner shall have the right to terminate this Agreement upon or within sixty (60) calendar days after the date (i) that the parent entity of Operator
consolidates or amalgamates with, or merges with or into, or transfers all or substantially all of its assets to another entity or (ii) upon which a transaction is consummated, the result of which is that any Person becomes the beneficial
owner, directly or indirectly, of more than fifty percent (50%) of the capital stock of Operator’s parent entity. 
 Section 8.3
Termination by Operator. 
 8.3.1 Operator shall be permitted at any time terminate this Agreement, such termination becoming effective
upon notice to Owner, upon the occurrence of any of the following events: 
 8.3.1.1 any Bankruptcy of Owner; 
 8.3.1.2 default by Owner of the payment of any undisputed amount due to Operator hereunder (other than the Base Fee) that is not cured
within thirty (30) days after receipt by Owner of written notice from Operator of such default; 
 8.3.1.3 default by
Owner of the payment of any undisputed amount of the Base Fee due to Operator hereunder that is not cured within thirty (30) days after receipt by Owner of written notice from Operator of such default; or 
  

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 8.3.1.4 Owner breaches any obligation under this Agreement and such breach continues
beyond any cure period therefor specified herein, or if no such period is specified in connection therewith, thirty (30) days. 
 8.3.2
In the event of a termination by Operator under Section 8.3.1 anytime on or after the O&M Commencement Date, Owner shall pay Operator the O&M Termination Payment. The payment of the O&M Termination Payment shall be
Operator’s sole and exclusive remedy for any termination hereof pursuant to this Section 8.3. 
 Section 8.4 Suspension by
Operator. 
 8.4.1 Without prejudice to any other rights of Operator hereunder, including pursuant to Section 8.3, Operator
shall be entitled to suspend performance of the O&M Services under this Agreement (without giving rise to any right of Owner to terminate this Agreement) upon thirty (30) Business Days’ notice to Owner in the event that Owner fails to
pay the Base Fee when due and payable in accordance with this Agreement. 
 8.4.2 If sufficient funds (other than the Base Fee) are not made
available to Operator from Owner to perform the O&M Services, then Operator shall be excused from performance (and relieved of any liability resulting from such failure to perform) only in respect of the O&M Services directly related to, or
directly affected by, such non-payment only until such funds are made available to Operator. 
 Section 8.5 Facility Condition at End of Term.

 Upon expiration or termination of this Agreement, Operator shall remove its personnel from the Facility. Operator shall leave the Facility
in good condition, reasonable wear and tear excepted. All tools, improvements, inventory of supplies, spare parts, safety equipment, O&M Manual (in each case as provided to or obtained by or provided by Operator during the term of this
Agreement) and any other items furnished on a Reimbursable Cost basis under this Agreement will be left at the Facility and will become or remain the property of Owner without additional charge. Operator shall provide that, at the expiration or
termination of this Agreement, Owner shall have the ability to assume, at Owner’s option, any contracts or obligations entered into by Operator for the performance of the O&M Services. Operator shall execute all documents and take all other
reasonable steps requested by Owner that may be required to assign to and vest in Owner all rights, benefits, interests and title in connection with such contracts or obligations at no further cost or expense, including complying with its
obligations pursuant to Section 2.2. 
  

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 ARTICLE IX 
 FORCE MAJEURE 
 Section 9.1 Force Majeure. 
 If either Party is rendered wholly or partly unable to perform its obligations under this Contract because of a Force Majeure Event, that Party will be
excused from whatever performance hereunder is affected by the Force Majeure Event to the extent so affected; provided, that: 
 9.1.1
the affected Party, within thirty-six (36) hours after knowing of the occurrence of the Force Majeure Event, gives the other Party written notice describing the particulars of the occurrence; 
 9.1.2 the suspension of performance is of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event; 

9.1.3 no obligations of either Party that arose before the occurrence causing the suspension of performance are excused as a result of the occurrence;

 9.1.4 the affected Party uses reasonable efforts to overcome or mitigate the effects of such occurrence and promptly provides information
regarding its recovery plan to the other Party as reasonably requested; and 
 9.1.5 at the earliest possible time that the non-performing
Party is able to resume performance of its obligations hereunder, that Party shall give the other Party written notice to that effect and shall promptly resume such performance. 
 Section 9.2 Burden of Proof. 
 The Party claiming that a Force Majeure event has occurred will
have the burden of proof as to whether such Force Majeure event has occurred. 
 ARTICLE X 
 INDEMNIFICATION 
 Section 10.1
Operator’s Indemnification. 
 Notwithstanding anything else to the contrary herein, Operator hereby assumes liability for, and
shall indemnify, defend and hold harmless Owner Indemnitees from and against all Claims of every kind and nature, including reasonable attorneys’ fees and expenses that may be imposed on, incurred by or asserted by against any Owner Indemnitee
and in any way relating to, arising out of or in connection with (i) the negligence, recklessness or willful misconduct by Operator’s Personnel or the performance or provision of the O&M Services, (ii) the breach by Operator of
any of representations, warranties, covenants or other agreements contained in this Agreement, (iii) any violation of Applicable Law or Governmental Approvals by Operator’s Personnel, (iv) the injury or death of natural Persons or
Casualty Event or the physical loss of or damage to any Property of any Person, including Owner, due to the negligence, recklessness or 

  

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willful misconduct of Operator’s Personnel in the performance or provision of the O&M Services, (iv) any Environmental Claim directly or
indirectly relating to, arising out of or in connection with the actual or alleged existence, generation, use, collection, treatment, storage, transportation, recovery, removal, disposal or Release of any Hazardous Materials at or from the Facility,
Facility Site or other adjacent area, in each case, due to the negligence, recklessness or willful misconduct of Operator’s Personnel or the performance or provision of the O&M Services. It is understood and agreed by the Parties that any
costs or expenses incurred by Operator pursuant to its indemnity obligations under this Section 10.1 shall not constitute Reimbursable Costs under this Agreement. 
 Section 10.2 Owner’s Indemnification. 
 Notwithstanding anything else to the contrary
herein, Owner hereby assumes liability for, and shall indemnify, defend and hold harmless Operator Indemnitees from and against all Claims of every kind and nature, including reasonable attorneys’ fees and expenses that may be imposed on,
incurred by or asserted by against any Operator Indemnitee and in any way relating to, arising out of or in connection with Operator’s entry into and performance of this Agreement; provided, that such Claims do not relate to or otherwise
give rise to a right of indemnification by Operator Indemnitees pursuant to Section 10.1. 
 Section 10.3 Recovery. 
 10.3.1 Insurance. Each Party hereby agrees that with respect to any Claim for which insurance required to be obtained hereunder would be
applicable, it shall use commercially reasonable efforts to recover insurance proceeds with respect thereto. 
 10.3.2 No Double
Recovery. To prevent double recovery hereunder, (i) if an indemnified Party previously has been indemnified by an indemnifying Party hereunder and, thereafter, the indemnified Party actually receives the proceeds of any judgment, insurance,
bond, surety or other recovery, then the indemnified Party shall reimburse the indemnifying Party for payments or costs incurred by the indemnifying Party to the extent that the proceeds of any such judgment, insurance, bond, surety or other
recovery by the indemnified Party would cause the indemnified Party to receive double recovery with respect to the Claim giving rise to the indemnifying Party’s obligations hereunder and (ii) if an indemnified Party has not yet been
indemnified by an indemnifying Party hereunder (or has been indemnified only in part) and the indemnified Party actually receives the proceeds of any judgment, insurance, bond, surety or other recovery, then the aggregate amount of indemnification
for which an indemnifying Party shall be liable for hereunder (or the remaining amount of indemnification for which the indemnifying Party shall be liable) shall be reduced to the extent that the proceeds of any such judgment, insurance, bond,
surety or other recovery by the indemnified Party would cause the indemnified Party to receive double recovery with respect to the Claim giving rise to the indemnifying Party’s obligations hereunder. 
 Section 10.4 Notice. 
 Each Party shall promptly
notify the other Party of any Claims, including Third Party Claims, in respect of which it is or may be entitled to indemnification under this Article X. Such 

  

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notice shall be given as soon as reasonably practicable after the relevant Party becomes aware of such Claims. 
 Section 10.5 Defense of Third Party Claims. 
 10.5.1 The indemnifying Party shall be entitled, in its sole discretion, to assume and control the defense of any Third Party Claim with counsel of its selection; provided, that (a) such Party gives prompt notice of its
intention to do so to the indemnified Party and reimburses the relevant indemnitees for the reasonable costs and expenses incurred by such indemnitees prior to the assumption by the indemnifying Party of such defense and (b) such counsel is
reasonably acceptable to the indemnitees. 
 10.5.2 Unless and until the indemnifying Party acknowledges in writing its obligation to
indemnify the relevant indemnitees and assumes control of the defense of any Third Party Claim in accordance with this Section 10.5, the indemnitees shall have the right, but not the obligation, to contest, defend and litigate, with
counsel of its own selection, any Third Party Claim alleged or asserted against the indemnitees in respect of, resulting from, related to or arising out of any matter for which it is entitled to be indemnified hereunder, and the reasonable costs
thereof shall be subject to the indemnification obligations of the indemnifying Party hereunder. 
 10.5.3 Following the acknowledgement of
the indemnification and the assumption of the defense by the indemnifying Party, the relevant indemnitees shall have the right to employ separate counsel and such counsel may participate in the proceeding or resolution of such Third Party Claim, but
the fees and expenses of such counsel shall be at the sole cost and expense of such indemnitees, when and as incurred, unless (a) the employment of counsel by such indemnitees has been authorized in writing by the indemnifying Party,
(b) the indemnitees shall have reasonably concluded that there is a potential conflict of interest between the indemnifying Party and the indemnitees in the conduct of the defense of such action, (c) the indemnitees shall have concluded
that counsel selected by the indemnifying Party is not reasonably acceptable or (d) the indemnitees shall have reasonably concluded and specifically notified the indemnifying Party either that there may be specific defenses available to it that
are different from or additional to those available to the indemnifying Party or that such Third Party Claim creates an inherent or potential conflict of interest. 
 ARTICLE XI 
 LIABILITIES OF THE PARTIES 
 Section 11.1 Limitations of Liability. 
 Except
in cases of fraud or willful conduct: (i) notwithstanding anything else herein to the contrary, neither Party nor its Affiliates, nor any of their respective shareholders, partners, members, officers, directors, agents, contractors,
subcontractors, vendors or employees, shall be liable hereunder for consequential or indirect loss or damage, including loss of profit, cost of capital, loss of goodwill or any other special, indirect or incidental damages, it being expressly
understood that the Parties’ indemnification obligations under Article X are not and shall not be construed as covering or otherwise related to any of the foregoing, and (ii) the Parties further 

  

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agree that the waivers and disclaimers of liability, indemnities, releases from liability and limitations on liability expressed in this Agreement shall
survive termination, cancellation or expiration of this Agreement, and shall apply at all times and with respect to any matter, whether in contract, equity, tort or otherwise, regardless of the fault, negligence (in whole or in part), strict
liability, breach of contract or breach of warranty of the Party indemnified, released or whose liabilities are limited, and shall extend to the partners, members, principals, shareholders, directors, officers, employees, agents of each Party and
its Affiliates. 
 Section 11.2 [RESERVED]. 
 Section 11.3 Limitation of Operator’s Liability. 
 Except in respect of the gross negligence, fraud, willful
misconduct or willful breach of Operator or its Affiliates (or the employees, agents, contractors or subcontractors of any of them), Claims for intellectual property infringement and indemnifiable liability of Operator with respect to Environmental
Claims as provided hereunder, Operator’s aggregate liability in connection with any Claim relating to Section 10.1(i), (ii) and (iii) arising during any Operating Year shall in no event exceed an amount equal
to the sum of (i) O&M Liability Cap with respect to such Operating Year, plus (ii) the insurance deductible, if any, relating to any insurance claim with respect to such Claim; provided, that the calculation of
Operator’s total aggregate liability incurred under or in connection with this Agreement with respect to any Operating Year shall not, for purposes of determining whether the O&M Liability Cap has been reached, include the proceeds of any
insurance recovery, if any; provided, further, that Operator acknowledges and agrees that Operator’s failure to (x) obtain and maintain, in full force and effect, and fully enforce any insurance as required pursuant to
Section 2.1.2.8 and (y) fully enforce Owner’s rights under the UTC Services Agreement, in each case, shall be considered gross negligence. 
 Section 11.4 No Warranties or Guarantees. 
 EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY
WARRANTIES OR GUARANTEE TO THE OTHER, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICES OR ANY OTHER SUBJECT MATTER OF THIS AGREEMENT, AND BOTH PARTIES DISCLAIM AND WAIVE ANY IMPLIED WARRANTIES OR WARRANTIES IMPOSED BY LAW INCLUDING
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 Section 11.5 Exclusive Remedies. 
 The remedies expressly provided under this Agreement in respect of or in consequence of any breach of contract, any negligent act or omission, death or
personal injury, loss of or damage to any property and any other matter relating to or arising out of this Agreement or the services provided hereunder shall be to the exclusion of any other remedy that either Party may have against the other under
Applicable Laws or otherwise; provided, however, that, in the case of any gross negligence, fraud, willful misconduct or willful breach by either Party, the other Party hereto may, in addition to any remedies available hereunder,
pursue any other remedies available to it at law or in equity. 
  

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 Section 11.6 Damages Under Owner Maintenance Agreements. 
 Notwithstanding the foregoing or anything else herein to the contrary, none of the foregoing limitations or disclaimers contained in this Article
XI shall apply to Operator’s obligations under Section 2.1.2.7 with respect Owner Maintenance Agreement, including the UTC Services Agreement; provided, that (i) Owner shall not be entitled to recover damages from
Operator hereunder in duplication of any other damages recovered by Owner pursuant to any Owner Maintenance Agreement from a counterparty thereto, and (ii) if the subject matter of a Claim for damages hereunder is also the basis for a Claim by
Owner under any Owner Maintenance Agreement, Owner shall not be entitled to recover damages from Operator hereunder until Owner (or Operator acting on behalf of Owner pursuant to Section 2.1.2.7) has exercised its rights under such Owner
Maintenance Agreement to recover damages thereunder until the maximum amount of such damages has been paid or set off. 
 ARTICLE XII 

 TITLE, DOCUMENTS AND DATA 
 Section 12.1 Materials and Equipment. 
 Title to all Equipment and Materials and all other items procured or obtained by
Operator on a Reimbursable Cost basis hereunder shall pass immediately to and vest in Owner upon the passage of title from the vendor or supplier thereof; provided, however, that such transfer of title shall in no way affect any other
obligations of Operator hereunder. 
 Section 12.2 Documents. 
 All materials and documents prepared or developed by Operator or its employees, representatives or contractors in connection with the Facility or the performance of the O&M Services hereunder, including all
manuals, data, designs, drawings, plans, specifications, reports and accounts, shall become the property of Owner when prepared. All such materials and documents, together with any materials and documents furnished to Operator or to its contractors
by Owner, shall be delivered to Owner upon expiration or termination of this Agreement and concurrent with final payment made to Operator; provided, however, that Operator may retain and use copies of all such materials and documents
prepared by Operator. 
 Section 12.3 Review by Owner. 
 In addition, all such materials and documents shall be available for review by Owner and its designees at all reasonable times during the term of this Agreement. 
 ARTICLE XIII 
 MISCELLANEOUS
PROVISIONS 
 Section 13.1 Access. 
 13.1.1 Owner. Owner and its employees, agents and representatives shall have access, upon the delivery of prior written notice by Owner to Operator, at all times to the Facility, all Facility operations and any documents, materials
and records and accounts relating 

  

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to the Facility operations for purposes of inspection and review. Upon the reasonable request of Owner, Operator shall make available to such Persons and
provide them with access to any operating data and all operating logs. 
 13.1.2 Cooperation. During any such inspection or review of
the Facility, Owner, its employees, agents and representatives shall comply with all of Operator’s safety and security procedures, and Owner, its employees, agents and representatives shall conduct such inspection and reviews in such a manner
as to cause minimum interference with Operator’s activities. Operator also shall cooperate with Owner in allowing other visitors access to the Facility under conditions mutually agreeable to the Parties. 
 Notwithstanding the foregoing, Owner shall have the right to maintain one employee, agent, or representative at the Facility at all times. 
 Section 13.2 Assignments. 
 It is
expressly understood and agreed that this Agreement is personal to Operator, and that Operator will have no right, power or authority to assign or delegate this Agreement or any portion thereof, either voluntarily or involuntarily, or by operation
of law, without the prior written consent of Owner. Owner may make a collateral assignment of this Agreement to the Collateral Agent in connection with the financing of the Project. Owner shall have the right to assign this Agreement as collateral
for any financing or refinancing of the Project, in connection with any financing or refinancing of the Project by Owner. Any purported assignment hereof in violation of the foregoing shall be void ab initio.  

Section 13.3 Governing Law, Jurisdiction. 
 This Agreement shall in all respects be governed by and construed in accordance with the laws the State of New York, without giving effect to any choice of law rules thereof which may permit or require the application of the laws of another
jurisdiction. The Parties hereby irrevocably submit to the jurisdiction of the courts of the State of New York in the county of New York or of the United States of America in the Southern District of New York and hereby waive, to the fullest extent
permitted by law, any objection that it may now or hereafter have to the laying of venue in an such action or proceeding in any such court. 
 Section 13.4 Severability. 
 If any provision of this Agreement shall be held void, voidable, invalid or inoperative, no
other provision of this Agreement shall be affected as a result thereof, and, accordingly, the remaining provisions of this Agreement shall remain in full force and effect as though such void, voidable, invalid or inoperative provision had not been
contained herein. 
 Section 13.5 Notices. 
 All notices permitted or required to be given under this Agreement shall be in writing and shall be deemed duly given when sent by confirmed facsimile transmission, by overnight courier or by personal delivery. All notices shall be
delivered or sent to the Parties at their respective 

  

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address(es) or number(s) shown below or to such other address(es) or number(s) as a Party may designate by prior written notice given in accordance with this
provision to the other Party: 
 If to Owner, to: 
 Thermo No. 1 BE-01, LLC 
 5152 North Edgewood Drive 
 Provo, Utah 84604 
 Attention: Steven R. Brown

 Facsimile No.: 801-374-3314 
 Confirmation No.: 801-765-1200 
 with a copy to: 
 Thermo No. 1 BE-01, LLC 
 5152 North Edgewood Drive 
 Provo, Utah 84604 
 Attention: Dick Clayton,
General Counsel 
 Facsimile No.: 801-374-3314 
 Confirmation No.: 801-765-1200 
 If to Operator, to: 
 Raser Power Systems, LLC 
 5152 North Edgewood
Drive 
 Provo, Utah 84604 
 Attention: Brent M. Cook, CEO 
 Facsimile No.: 801-374-3314 
 Confirmation No.: 801-765-1200 
 with a copy
to: 
 Raser Power Systems, LLC 
 5152 North Edgewood Drive 
 Provo, Utah 84604 
 Attention: Dick Clayton, General Counsel 
 Facsimile No.: 801-374-3314 
 Confirmation No.: 801-765-1200 
 Section 13.6 Article
and Section Headings. 
 The Article and Section headings herein have been inserted for convenience of reference only and shall not in any
manner affect the construction, meaning or effect of anything herein contained nor govern the rights and liabilities of the Parties. 
  

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 Section 13.7 Survival. 
 The terms and provisions set forth in Articles VIII, X, XI and XIII shall survive any termination of this Agreement. 
 Section 13.8 Remedies. 
 Except as expressly set forth herein, each Party shall be free to pursue
all its rights at law or in equity or otherwise to enforce its rights under the Agreement. 
 Section 13.9 Entire Agreement. 
 This Agreement contains the entire agreement between the Parties with respect to the subject matter hereof, and supersedes any and all prior and
contemporaneous written and oral agreements, proposals, negotiations, understandings and representations pertaining to the subject matter hereof. 
 Section 13.10 Amendments; Waivers. 
 No term, provision or condition of this Agreement may be amended, modified or
waived except by an instrument duly executed and delivered by a duly authorized officer of the Party against which enforcement is sought. The waiver of any term, condition or provision hereof shall be limited to, unless expressly stated otherwise,
specific facts or circumstances for which waiver shall have been granted and such waiver shall not be construed as, or otherwise constitute, a general waiver of any term, condition or provision hereof. Except as may be specifically agreed in
writing, the failure of Owner or Contractor to insist in any one or more instances upon the strict performance of any one or more of the provisions of this Agreement or to exercise any right herein contained or provided hereunder, shall not be
construed as, or constitute in any way, whether express or implied, a waiver, modification or relinquishment of the performance of such provision or right(s), or of the right to subsequently demand such strict performance or exercise such right(s),
and such rights shall continue unchanged and remain in full force and effect. 
 Section 13.11 Financing Documents. 
 Operator hereby acknowledges and agrees for the benefit of the Lenders that it understands and is aware of the restrictions or limitations on Owner’s
rights hereunder, and Operator further acknowledges and agrees that any action taken by Owner hereunder in violation of the requirements of the Financing Documents or hereof shall be void or voidable ab initio. If in connection with any
assignment hereof any Financing Party requests Operator to consent to or acknowledge in writing such an assignment, Operator shall do so promptly, with such acknowledgment and consent agreement to include such terms and conditions as are mutually
and reasonably agreed upon by Operator, Owner and the Financing Parties. 
 Section 13.12 No Third Party Rights. 
 Except with respect to the rights of the Administrative Lender on behalf of the Lenders, as provided for herein, this Agreement and all rights hereunder
are intended for the sole benefit 

  

 - 35 - 

 
of the Parties and, to the extent expressly provided, for the benefit of the Owner Indemnitees and Operator Indemnitees, and shall not imply or create any
rights on the part of, or obligations to, any other Person. 
 Section 13.13 Owner’s Obligations Non-Recourse. 
 The Parties acknowledge that Owner has entered into this Agreement entirely on its own behalf, and in no manner on behalf of its Affiliates, and that
Operator agrees that it shall not have any recourse against any of Owner’s Affiliates, partners, parents, members, joint venturers, vendors, shareholders, creditors officers or directors with respect to Owner’s obligations or other
liability arising hereunder. 
 Section 13.14 Relationship of the Parties. 
 13.14.1 Independent Contractor. Except with respect to Operator’s obligations pursuant to Section 2.1.2.7, Operator has been
retained by Owner as an independent contractor to operate and maintain the Facility on behalf of Owner, as more specifically described herein. 
 13.14.2 No Partnership. Nothing contained or implied in this Agreement shall: 
 13.14.2.1 constitute or be
deemed to constitute either Party to this Agreement as the partner of the other Party for any purpose whatsoever; or 
 13.14.2.2 create or be deemed to create any partnership between either Party and the other Party. 
 13.14.3 No Affiliate
Status. Notwithstanding the foregoing, neither Owner nor Operator shall be deemed to be an Affiliate of the other for purposes of this Agreement. 
 13.14.4 Power to Bind. Except as expressly set forth in this Agreement or as otherwise agreed to in writing by the Parties from time to time, neither Owner nor Operator shall by virtue of this Agreement have
the power or authority to enter into any agreement or undertaking for or to act on behalf of or otherwise to bind the other Party as to any matter or thing to be done in relation to the Facility or to the performance or provision of the O&M
Services. 
 Section 13.15 Counterparts. 
 This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 Section 13.16 Dispute Resolution  
 The Parties hereby agree to that all disputes arising from
this Agreement shall be resolved in accordance with the terms and conditions provided for in Schedule D attached hereto. 
  

 - 36 - 

 Section 13.17 Further Assurances. 
 The Parties shall execute and deliver such documents and take such additional action as may be required in good faith to carry out the purposes of this
Agreement and preserve the rights and benefits of the Parties as contemplated herein. 
 Section 13.18 Confidentiality. 
 The Parties agree to comply with the terms of the confidentiality agreement attached hereto as Schedule E. 
 Section 13.19 Delivery of Reports, Notices, Certificates and Other Documents. 
 For any purpose hereunder, no report, notice or certificate, a form of which is attached as an Exhibit in any Operative Document, shall be deemed provided hereunder unless such report, notice or certificate is
substantially in the form required thereby and duly executed by each signatory thereto. 
 [Remainder of Page Intentionally Left Blank]

  

 - 37 - 

 IN WITNESS WHEREOF, each Party has caused this Agreement to be signed on its behalf as of the date
first written above. 
  

					
	THERMO NO. 1 BE-01, LLC, a Delaware limited liability company, as Owner

  

					
	By:	 	Intermountain Renewable Power, LLC
	Its:	 	Managing Member
			
		 	By:	 	 /s/ Richard D. Clayton

		 	Name:	 	Richard D. Clayton
		 	Title:	 	Manager

  

					
	RASER POWER SYSTEMS, LLC, a Delaware limited liability company, as Operator

  

					
	By:	 	Raser Technologies, Inc.
	Its:	 	Sole Member
			
		 	By:	 	 /s/ Richard D. Clayton

		 	Name:	 	Richard D. Clayton
		 	Title:	 	Manager

 Operation and Maintenance Agreement Signature Page 

 Final Version 
 SCHEDULE Z 
 Unless the context otherwise requires, the following terms shall have the
following respective meanings for all purposes, and the following definitions are equally applicable both to the singular and plural forms and the feminine, masculine and neuter forms of the terms defined. Any term defined below by reference to any
Operative Document shall have such meaning whether or not such Operative Document has been terminated or otherwise remains in effect on the date of usage. This Schedule Z is comprised of three parts: (i) General Definitions; (ii) Parties;
and (iii) Documents. 
 GENERAL DEFINITIONS 
 “Account(s)” means all “accounts” as defined in Article 9 of the UCC. [ASA, CA] 
 “Account Bank” means Deutsche Bank Trust Company Americas, in its capacity as bank with respect to the Deposit
Accounts and within the meaning of Section 9-102 of the UCC. [ASA] 
 “Account Debtor” means
each Person who is obligated on a Receivable or any Supporting Obligation related thereto. [ASA] 
 “Accounting
Firm” means any of Company’s primary independent accounting firm which shall be Hein & Associates LLP or such other nationally or regionally recognized firm certified public accountants, in each case, selected by the
Manager and approved by a Class Majority Vote. [LLCA] 
 “Actual Availability Rating” means the net electrical
output of the Facility during full operation, represented as a percentage of the Actual Capacity Rating, demonstrated pursuant to the Availability Prove-Out and set forth on the Notice of Facility Substantial Completion. [EPC, Schedule Z]

 “Actual Capacity Rating” means lesser of (i) Demonstrated Operational Capacity and (ii) Demonstrated
Geothermal Capacity. [EPC, Schedule Z] 
 “Actual Debt Investment” means the amount identified as “Term
Loan” in the Recalculated Equity Base Case Model. [Schedule Z] 
 “Actual Efficiency” means the
product of (i) the Actual Capacity Rating, multiplied by (ii) the Actual Availability Rating, reflected as a numerical value. [Schedule Z] 
 Schedule Z 

 “Actual Equity Investment” means the amount identified as “Tax Equity
Prepayment” in the Recalculated Equity Base Case Model. [Schedule Z] 
 “Actual Facility Characteristics”
means the following characteristics actually achieved by the Facility upon Facility Substantial Completion: (i) the Actual Capacity Rating, (ii) the Actual Availability Rating, and (iii) the Actual PIS Turbines. [EPC]

 “Actual PIS Turbines” means the number of Turbines comprising the Facility that achieve Turbine Substantial
Completion on or before the Required Turbine Substantial Completion Date. [EPC, Schedule Z] 
 “Additional Operative
Document” means (a) any agreement replacing or superseding an existing Operative Document, (b) any agreement for the sale of energy, capacity or ancillary services, or (c) any other agreement (i) relating to
obligations in excess of $500,000 for any single fiscal year and $2,000,000 over the term of such agreement, and (ii) relating to the development of the Project entered into by the Company and any other Person subsequent to the Effective Date.
[CA] 
 “Adjusted Capital Account” means the Capital Account of a Member (a) increased by the amount of
potential deficit that the Member is deemed obligated to restore, calculated as described in the last sentence of Treasury Regulation Section 1.704-2(g)(1) and the last sentence of Treasury Regulation Section 1.704-2(i)(5) and
(b) decreased by expected items described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6). [LLCA] 
 “Administrative Agent’s Account” means a non-interest bearing trust account established by the Administrative Agent on behalf of the Lenders for the purpose of receiving Debt Service payments from the Company
for the further payment to the Agents and the Lenders. [CA] 
 “Advance” has the meaning specified in
Section 2.1 of the Credit Agreement. [ASA, CA, Schedule Z] 
 “Advance Date” means the time
and Business Day on which all the conditions precedent set forth in Section 3.1 and 3.2 of the Credit Agreement are satisfied or waived and the Company receives an Advance under the Credit Agreement. [CA]

 “Advance Request” has the meaning specified in Section 2.2.1 of the Credit Agreement. [ASA,
CA] 
 “Affected Lender” has the meaning specified in Section 2.12.3. of the Credit Agreement.
[CA] 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through
one or more intermediaries, Controls, is Controlled by or is under common Control with such Person. For purposes of any Transaction Document, (i) the Company shall not be deemed to be an Affiliate of the Lenders or the Lenders’ Affiliates
and (ii) solely for purposes of Section 9.1.2 of the Credit Agreement, the Company shall not be deemed an Affiliate of Raser and Raser’s Affiliates. The Company shall be deemed to be an Affiliate of IRP prior to the
Closing 

  

 - 2 - 

 
(for purposes of representations and warranties in the Equity Capital Contribution Agreement), but shall not be deemed to be an Affiliate of any
Member from and after the Closing. [ASA, CA ECCA, EPC, LLCA, O&M, Schedule Z] 
 “After-Tax Payout” means
(A) the Class A Investors reaching an Internal Rate of Return equal to the Target IRR on the same date as in the Equity Base Case Model originally agreed when the Equity Capital Contribution Agreement was signed, (B) the
Class A Investors reaching a pre-tax return through the assumed 20- year useful life of the Project of at least 2%, treating the Production Tax Credits the Class A Investors are expected to be allocated as equivalent to cash
(the “Target Pre-Tax Return”), and (C) the allocations and distributions of the Class A Investors after the Flip Date decreasing to no less than 5% or such greater percentage as is necessary for the Class A
Investors to achieve the Target Pre-Tax Return. [Schedule Z]  
 “Agent Parties” has the meaning specified in
Section 14.3 of the Credit Agreement. [CA] 
 “Agents” means, collectively, the
Administrative Agent and the Collateral Agent, as applicable, together with their successors and assigns to the extent permitted by the terms of the Credit Agreement. [ASA, CA, Schedule Z] 
 “Agreement” means, as used in any agreement, instrument or other document, such agreement, instrument or other document. [ASA,
CA, ECCA, EPC, LLCA, O&M Schedule Z] 
 “Annual Operating Plan and Budget” means the Facility Plan and Budget
and Wellfield Plan and Budget; provided, that with respect to the Annual Operating Plan and Budget for any period occurring on or before December 31, 2009, Annual Operating Plan and Budget means the Annual Operating Plan and Budget
referenced in Section 6.1.6 of the O&M Agreement. Where “Annual Operating Plan and Budget” is referenced as a numerical quantity, it shall equal the sum of the total budgets set forth in the Facility Plan and
Budget and Wellfield Plan and Budget. [ASA, CA, LLCA, O&M, Schedule Z] 
 “Anti-Terrorism Order” means
Executive Order No. 13,224 of September 24, 2001, Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended. [CA] 
 “Applicable Law” means, as used in any Transaction Document or with respect to any Party to such Transaction Document, means all
common laws, customary laws, constitutional laws, statutes, directives, codes, resolutions, enactments, treaties, ordinances, judgments, decrees, injunctions, writs and orders of any Governmental Authority and rules, regulations, orders,
interpretations and Governmental Approvals of any Governmental Authority, in each case, having jurisdiction over or with respect to such Transaction Document, such Party or the transactions contemplated thereby and the performance thereunder.
[ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Applied Drilling Escrow Amount” has the meaning set forth
in Section 3.8 of the Account and Security Agreement. [ASA, EPC] 
  

 - 3 - 

 “Appraisal Method” means an appraiser selected jointly by the Class A
Investors and the Class B Investors. However, if they cannot agree on an appraiser within 15 days of a party invoking the procedure described in this definition, then the Class A Investors and the Class B Investors will each appoint
its own appraiser; provided, that if either the Class A Investors or the Class B Investors fail to appoint an appraiser within five days after the end of such fifteen (15) day period, the determination of the appraiser appointed by
the other class of Members (if so appointed within such period) shall be conclusive and binding on the Members. If the appraisers appointed by the Class A Investors and the Class B Investors are unable to agree upon the fair market value
within 30 days after the appointment of the second of such appraisers, the fair market value will be the average of the market values reported by each appraiser. The fair market value determined by this Appraisal Method will be conclusive and
binding on the Members. [LLCA] 
 “Appraisal Notice” has the meaning set forth in Section 9.7 of
the LLC Operating Agreement. [LLCA] 
 “Approved Reserve Letter of Credit” means a letter of credit
issued by a bank or other financial institution and containing terms and conditions satisfactory to the Required Lenders in their sole discretion, which letter of credit shall at all times be in the stated amount equal to at least the Minimum Debt
Service Reserve and shall not expire until the Final Maturity Date (giving effect to any automatic renewal periods contained therein). [Schedule Z] 
 “Approved Transferee” means, in the case of a Transfer of a Class A Interest, any Person that is (i) either (A) an Affiliate of such transferring Class A Investors,
(B) an institutional investor with a tangible net worth of at least $50,000,000 at the time of such Transfer, or (C) a Person whose obligations under this Agreement are guaranteed by an institutional investor with a tangible net worth of
at least $50,000,000 at the time of such Transfer, (ii) not a Competitor, and (iii) not a Disqualified Transferee; and, in the case of a Transfer of a Class B Interest, any Person that is (i) an experienced geothermal company
with a national or international reputation with experience owning and operating commercial geothermal plants with an aggregate capacity of at least 50 megawatts (or undertakes to engage such an experienced geothermal company to manage the Company),
(ii) either (A) an Affiliate of such transferring Class B Investors, or (B) a Person with a tangible net worth of at least $50,000,000 or whose obligations as Class B Investors are guaranteed by an entity having such a tangible
net worth, and (iii) is not a Disqualified Transferee. [LLCA] 
 “ASA Intellectual Property” means,
collectively, the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses, the Trademarks, the Trademark Licenses, the Trade Secrets, and the Trade Secret Licenses. [ASA, Schedule Z] 
 “Asset Manager” has the meaning set forth in Section 4.2 of the O&M Agreement. [O&M]

 “Assets” means all right, title and interest of the Company in land, properties, buildings, improvements,
fixtures, foundations, assets and rights of any kind, whether tangible or intangible, real, personal or mixed, including contracts, equipment, systems, books, data, reports, studies and records, proprietary rights, intellectual property, the
Leases, Interconnection Asset, 

  

 - 4 - 

 
easements, Licenses and Permits, rights under or pursuant to all warranties, representations and guarantees, cash, accounts receivable, deposits and prepaid
expenses, including the Project and any and all of the foregoing pertaining thereto. [LLCA, Schedule Z] 
 “Assigned
Agreements” means all agreements and contracts to which (a) the Company is a party as of the effective date of the Credit Agreement, including, without limitation, each Project Document and each Operative Document, or to
which (b) the Company becomes a party after the effective date of the Credit Agreement, as each such agreement may be amended, supplemented or otherwise modified from time to time to the extent permitted by the terms of the Credit
Agreement. [ASA, Schedule Z] 
 “Authorized Representative” means, as used in any Agreement, the natural
Person appointed by each Party to such Agreement pursuant to the terms thereof to act on such Party’s behalf with respect to such Party’s rights and obligations under such Agreement. [EPC, LLCA, O&M] 
 “Availability Period” means the period beginning on the Effective Date of the Credit Agreement and ending on the Final
Completion Date. [CA] 
 “Availability Prove-Out” has the meaning set forth in Section 7.1 of the
EPC Agreement. [EPC, Schedule Z] 
 “Available Contingency Amount” means, as of any date, the
sum of (i) the product of (x) the Contingency Amount, multiplied by (y) the result of (A) the aggregate amount of Milestone Payments requested prior to and including on such date, divided by
(B) the Contract Price, minus (ii) the aggregate amount of the Contingency Amount paid to Contractor by Owner pursuant to Section 5.1.3 of the EPC Agreement prior to such date. [EPC] 
 “Bankruptcy” means, with respect to any Person, a situation in which (i) such Person shall file a voluntary petition in
bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file any petition or answer or consent seeking any reorganization, arrangement, moratorium, composition, readjustment, liquidation, dissolution or similar relief for itself under
any present or future Applicable Laws relating to bankruptcy, insolvency or other relief for debtors, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver, conservator or liquidator of such Person or of all or any
substantial part of its properties (the term “acquiesce”, as used in this definition, includes the failure to file a petition or motion to vacate or discharge any order, judgment or decree within fifteen (15) calendar days
after entry of such order, judgment or decree); (ii) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed against such Person seeking a reorganization, arrangement, moratorium, composition,
readjustment, liquidation, dissolution or similar relief under any present or future Applicable Laws relating to bankruptcy, insolvency or other relief for debtors, and such Person shall acquiesce and such decree shall remain unvacated and unstayed
for an aggregate period of sixty (60) calendar days (whether or not consecutive) from the date of entry thereof, or a trustee, receiver, conservator or liquidator of such Person shall be appointed with the consent or acquiescence of such Person
and such appointment shall remain unvacated and unstayed for an aggregate period of sixty (60) calendar days, whether or not consecutive; (iii) such Person shall admit in writing its inability to pay its debts as they mature;
(iv) such Person 

  

 - 5 - 

 
shall give notice to any Governmental Authority of insolvency or pending insolvency, or suspension or pending suspension of operations; or (v) such
Person shall make a general assignment for the benefit of creditors or take any other similar action for the protection or benefit of creditors. [ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Bankruptcy Code” means Title 11 of the United States Code, as in effect from time to time. [ASA, Schedule Z] 

“Base Fee” has the meaning set forth in Section 7.2 of the O&M Agreement. [O&M, Schedule Z]

 “Board” means the Board of Governors of the Federal Reserve System of the United States of America or any
successor Governmental Authority. [CA, Schedule Z] 
 “Bonus Payments” means bonus, incentive or similar
special payments required to be made by the Company under the EPC Agreement, O&M Agreement or any other Project Document (other than payments with respect to a Borrower Indemnification Event). 
 “Book-Entry Security” means a security maintained in the form of entries (including, without limitation, the security
entitlements in, and the financial assets based on, such security) in the commercial book-entry system of the Federal Reserve System. [ASA, Schedule Z] 
 “Borrower Indemnification Event” means any event or occurrence or directly related series of events or occurrences giving rise to the obligation of the Company to make payments in respect of
damages or indemnifications under any of the Project Documents. [Schedule Z] 
 “Budget Commitment” means the
amount identified as the “Budget Commitment” on Schedule E to the EPC Agreement. [EPC, Schedule Z] 
 “Business Day” means any calendar day, except Saturdays, Sundays and days on which the Federal Reserve Bank in New York are closed or authorized to be closed. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z]

 “Buy-Down CA Redemption Amount” means the sum of (i) the Buy-Down Debt Overage, plus
(ii) any interest accrued but unpaid under the Credit Agreement, as of the Guaranteed Final Completion Date, applicable to an aggregate principal amount of Advances equal to the Buy-Down Debt Overage, plus (iii) the Make-Whole
Amount with respect to an aggregate principal amount of Advances equal to the Buy-Down Debt Overage. [CA, Schedule Z] 
 “Buy-Down Debt Overage” means the sum of (i) the Target Debt Investment, minus (ii) the Actual Debt Investment. [CA, Schedule Z] 
 “Buy-Down Equity Overage” means the sum of (i) the Target Equity Investment, minus (ii) the Actual Equity
Investment. [ECCA, Schedule Z] 
 “Buy-Down Liquidated Damages” means the sum of (i) the Buy-Down
CA Redemption Amount, plus (ii) the Buy-Down LLC Redemption Amount. [ASA, EPC]  
  

 - 6 - 

 “Buy-Down LLC Redemption Amount” means the sum of (i) the Buy-Down
Equity Overage, plus, (ii) an amount sufficient to achieve the After-Tax Payout on an amount of Class A Interests equal to the Buy-Down Equity Overage for the period to the Guaranteed Final Completion Date, plus (iii) 2%
of the Buy-Down Equity Overage. [LLCA, Schedule Z]  
 “Buy-Down Trigger Event” has the meaning set forth in
Section 6.4.1 of the EPC Agreement. [ASA, CA, EPC, Schedule Z] 
 “Called Principal” means,
with respect to any Advance, the principal amount of such Advance that is to be prepaid pursuant to Section 2.5 or 2.6 of the Credit Agreement or has become or is declared to be immediately due and payable pursuant to
Section 8 of the Credit Agreement, as the context requires. [Schedule Z] 
 “Capacity
Prove-Out” has the meaning set forth in Section 7.2 of the EPC Agreement. [EPC, Schedule Z]  
 “Capital Account” means an account for each Member established and maintained as described in Section 4.2 of the LLC Operating Agreement. [LLCA] 
 “Capital Contribution” means, with respect to any Member, the amount of money and the initial Gross Asset Value of any property
contributed to the Company with respect to the Interests in the Company held or acquired by such Member. [ECCA, Schedule Z] 
 “Capital Contribution Commitment” means, with respect to the Class A Investors, $24,500,000. [ECCA, Schedule Z] 
 “Capital Investment Proceeds” means the proceeds received by Owner in connection with the sale of equity to Contractor or other capital investments made by Contractor to Owner in connection
with Contractor’s membership interests therein. [EPC] 
 “Capital Leases” means, in respect of any
Person, all leases which shall have been, or should have been, in accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder. [CA, Schedule
Z] 
 “Cash Equivalent Investments” means, at any time, (a) any evidence of Debt, maturing not more than one
year after the acquisition thereof, issued or guaranteed by the United States Government, or any agency thereof, (b) any evidence of Debt, maturing not more than one year after the acquisition thereof, issued or guaranteed by any state, any
political subdivision thereof, or any public instrumentality thereof, rated at least A-l by Standard & Poor’s Ratings Group or P-l by Moody’s Investors Service, Inc., (c) commercial paper, or corporate demand notes, in each
case (unless issued by a Lender or its holding company) rated at least A-l by Standard & Poor’s Ratings Group or P-l by Moody’s Investors Service, Inc., (d) any certificate of deposit (or time deposit represented by a
certificate of deposit) or banker’s acceptance maturing not more than one year after the acquisition thereof, or any overnight Federal Funds transaction that is issued or sold by any Lender (or by a commercial banking institution that is a
member of the Federal Reserve System and has a combined capital and surplus and undivided profits of not less than $500,000,000), (e) any repurchase agreement with a term of not more than seven (7) days 

  

 - 7 - 

 
entered into with any Lender (or commercial banking institution of the nature referred to in clause (d) above) which (i) is secured by a fully
perfected security interest in any obligation of the type described in any of clauses (a) through (d) above, and (ii) has a market value at the time such repurchase agreement is entered into of not less than 100% of the repurchase
obligation of such Lender (or other commercial banking institution) thereunder and (f) money market accounts or mutual funds which invest exclusively in assets in securities of the types described in clauses (a) through (e) above.
[ASA, CA] 
 “Cash Difference” has the meaning set forth in Section 6.5(d) of the LLC Operating
Agreement. [LLCA] 
 “Cash Proceeds” means, collectively, all proceeds of any Collateral received by the
Company consisting of cash, checks and other near-cash items. [ASA] 
 “Casualty Event” means any loss,
casualty or other damage to, or any nationalization, taking under power of eminent domain or by condemnation or similar proceeding of, any Property of the Company. [ASA, CA, EPC, O&M, Schedule Z] 
 “Certificate of Formation” has the meaning set forth in the preliminary statements of the LLC Operating Agreement.
[LLCA] 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the Effective Date,
(b) any change in any Applicable Law or in the interpretation or application thereof by any Governmental Authority after the Effective Date, or (c) a request, guideline or directive (whether or not having the force of law) of a
Governmental Authority made or issued after the Effective Date which requires compliance by the affected Party. [CA] 
 “Change of Control” means the occurrence of any of the following events: 
 (a) before the Facility
Substantial Completion Date: 
 (i) the consummation of a merger or consolidation of Raser with any other company, other than a merger or
consolidation which would result in the voting securities of Raser outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty
percent (50%) of the total voting power represented by the voting securities of Raser or such surviving entity outstanding immediately after such merger or consolidation; 
 (ii) the consummation of a plan of liquidation of Raser; 
 (iii) the consummation of the sale or disposition by Raser of all or substantially all of Raser’s assets; 
 (iv) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becoming the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or
indirectly, of securities of Raser representing more than fifty percent (50%) of the total voting power represented by Raser’s then outstanding voting securities; 
  

 - 8 - 

 (v) Raser shall cease to own, directly or indirectly, 100% of the Equity Interests of IRP; 
 (vi) Raser shall cease to possess, directly or indirectly, the power to Control and direct the management of the Company pursuant to the LLC Operating
Agreement; provided, however, no Change of Control shall be deemed to occur under this clause (vi) if (A) (1) the Class A Investors replace IRP as the managing member pursuant to the exercise of remedies by such
Class A Investors under the LLC Operating Agreement and (2) the Class A Investors have and continue to have experience reasonably acceptable to the Required Lenders in the management of entities owning geothermal energy
generating facilities in the United States or retain the services of an Affiliate or Person to act as managing member having and continuing to have such experience; provided that in the case of a Person which is not an Affiliate of the
Class A Investors, such Person shall be reasonably acceptable to the Required Lenders, (B) solely as a result of the Class A Investors having exercised their cure rights under Section 4.4 under the LLC Operating
Agreement and receiving Class C Interests in accordance with the LLC Operating Agreement, or (C) solely as a result of UTC exercising its rights to direct Raser and Company in accordance with Section 2 of the UTC Step-In
Agreement; or 
 (b) before or after the Facility Substantial Completion Date: 
 (i) IRP shall cease to own, directly or indirectly, one hundred percent (100%) of the Class B Interests, except in the case of a transfer to an
Approved Transferee or a transferee that has been approved by the Class A Investors and, in each case which transferee has executed and delivered a pledge agreement substantially in the form of the Class B Pledge Agreement, or as otherwise
acceptable to the Required Lenders, and, after giving effect to such transfer, IRP shall own, directly or indirectly, at least fifty percent (50%) of the Class B Interests; or 
 (ii) IRP shall cease to possess the power, directly or indirectly, to Control and direct the management of the Company pursuant to the LLC Operating
Agreement; provided, however, no Change of Control shall be deemed to occur under this clause (ii) if (A) (1) the Class A Investors replace IRP as the managing member pursuant to the exercise of remedies by such
Class A Investors under the LLC Operating Agreement and (2) the Class A Investors have and continue to have experience reasonably acceptable to the Required Lenders in the management of entities owning geothermal energy
generating facilities in the United States or retain the services of an Affiliate or Person to act as managing member having and continuing to have such experience; provided that in the case of a Person which is not an Affiliate of the
Class A Investors, such Person shall be reasonably acceptable to the Required Lenders or (B) solely as a result of the Class A Investors having exercised their cure rights under Section 4.4 under the LLC Operating
Agreement and receiving Class C Interests in accordance with the LLC Operating Agreement. [CA] 
 “Change of
Member Control” means with respect to any Member, an event (such as a transfer of voting securities, liquidation or merger) that causes such Member to cease to be Controlled by such Member’s Parent; provided, however,
that an event that causes a Member’s Parent to be Controlled by another Person is not a Change of Member Control unless such event causes a termination of the Company pursuant to Section 708(b)(1)(B) of the Code or could 

  

 - 9 - 

 
require the Company to pay the Redemption Amount under Section 2.6.2 of the Credit Agreement. [LLCA]  
 “Chattel Paper” means all “chattel paper” as defined in Article 9 of the UCC. [ASA, Schedule Z] 
 “Claims” means, with respect to any Person, any and all suits, actions, sanctions, notices of violation, legal proceedings,
claims, losses, judgments, settlements, demands, injury, obligation, liabilities, out-of-pocket costs, direct damages, liquidated damages, expenses, fines and penalties of whatsoever kind or character, including reasonable attorneys’ fees,
civil fines or penalties or other expenses incurred, assessed, asserted or sustained by or against such Person, whether based on contract, warranty, guarantee, indemnity, tort (including negligence), strict liability, breach of statute or otherwise.
[ASA, EPC, O&M, Schedule Z] 
 “Class A Interests” means membership interests in the Company that are
held initially by MLE and have the rights described in the LLC Operating Agreement. [ECCA, EPC, LLCA, Schedule Z] 
 “Class B Interests” means membership interests in the Company that are held initially by IRP and have the rights described in the LLC Operating Agreement. [ECCA, LLCA, Schedule Z] 
 “Class C Interests” means membership interests in the Company that initially are authorized, but not issued, and that may be
issued to MLE in exchange for additional Capital Contributions as described in Section 4.4 of the LLC Operating Agreement. [LLCA, Schedule Z] 
 “Class Majority Vote” means approval by a majority of the Class A Investors and the Class B Investors, with each voting separately as a class. [LLCA, Schedule Z] 
 “Closing” means the time at which all the conditions precedent set forth in Section 3.1 of the Credit
Agreement are satisfied or waived in accordance with the terms of the Credit Agreement and the initial Advance has been made to the Company. [CA, Schedule Z] 
 “Closing Date” means the date on which Closing occurs or has occurred, as the case may be. [CA, Schedule Z] 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor statute. [CA, ECCA, EPC, LLCA,
Schedule Z] 
 “Collateral Parcels” has the meaning specified in Article XI of the Account and Security
Agreement. [ASA] 
 “Collateral” has the meaning assigned in Section 4.1 of the Account and
Security Agreement. [ASA, CA, Schedule Z] 
  

 - 10 - 

 “Collateral Assignment Agreements” means the Class A Consent, Class B
Consent, Class B Guarantor Consent, PPA Consent, Raser Consent, Raser Power Consent, SITLA Consent and UTC Consent. [ASA] 
 “Collateral Support” means all property (real or personal) assigned, hypothecated or otherwise securing any Collateral and shall include any security agreement or other agreement granting a lien or security interest
in such real or personal property. [ASA, Schedule Z] 
 “Commercial Tort Claims” means all “commercial
tort claims” as defined in Article 9 of the UCC, including, without limitation, all commercial tort claims listed on Schedule 6.7 of the Account and Security Agreement (as such schedule may be amended or supplemented from time to
time). [ASA] 
 “Commitment” means, with respect to each Lender, the commitment of such Lender to make the
Advances, as such commitment may be modified from time to time pursuant to assignments by or to such Lender pursuant to Section 16 of the Credit Agreement. [CA] 
 “Commodities Accounts” (a) means all “commodity accounts” as defined in Article 9 of the UCC and
(b) includes, without limitation, all of the accounts listed on Schedule 6.4 of the Account and Security Agreement under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to
time). [ASA, Schedule Z] 
 “Communications” has the meaning specified in Section 14.2 of the
Credit Agreement. [CA] 
 “Company Items” has the meaning set forth in Section 7.10(b) of
the LLC Operating Agreement. [LLCA] 
 “Company Minimum Gain” means the amount of minimum gain there is
in connection with nonrecourse liabilities of the Company, calculated in the manner described in Treasury Regulation Sections 1.704-2(b)(2) and 1.704-2(d). [LLCA] 
 “Competitor” means any Person that directly or indirectly, through one or more subsidiaries, Affiliates or joint ventures,
actively operates, manages or develops geothermal power plants or other renewable energy projects with an aggregate capacity of more than 50 MW in the geographic area of the regional transmission organizations or the NERC control area, or their
equivalent, in which the Facility participates; provided, that notwithstanding the foregoing, banks, insurance companies and other financial institutions and Affiliates or joint ventures thereof (i) regularly involved in making passive
investments in alternative energy facilities similar to an investment in the Class A Interest or (ii) that do not regularly actively operate, manage or develop geothermal power plants, shall not be deemed a “Competitor.”
[ECCA, LLCA] 
 “Completion Certificate” means a Facility Substantial Completion Certificate or a Final
Completion Certificate. [EPC, Schedule Z] 
 “Compliance Certificate” means a Compliance Certificate
substantially in the form of Exhibit 5.1.3 of the Credit Agreement. [ASA, CA] 
  

 - 11 - 

 “Consent of the Class A Investors” means the consent or approval of the
Class A Investors who own in the aggregate more than fifty percent (50%) of the Class A Interests in the Company. [LLCA] 
 “Consents” means, collectively, the SITLA Consent, UTC Consent and the PPA Consent. [CA, LLCA] 
 “Consistent Return” has the meaning set forth in Section 7.9 of the LLC Agreement. [LLCA] 
 “Contingency Amount” means the amount identified as the “Contingency Amount” in Schedule E of the EPC Agreement. [EPC, Schedule Z]  
 “Contract Price” means the sum of the Milestone Payments paid and to be paid pursuant to the EPC Agreement. [EPC,
Schedule Z]  
 “Contractor Event of Default” has the meaning set forth in Section 13.1.2 of the
EPC Agreement. [EPC] 
 “Contractor Indemnitees” means, collectively, Contractor and its respective
shareholders, partners, Affiliates, employees, Subcontractors, representatives and agents, together with their successors and assigns. [EPC] 
 “Contractor Termination Payment” has the meaning set forth in Section 13.2.2 of the EPC Agreement. [EPC] 
 “Contractor’s Personnel” means, collectively, Contractor, its employees, agents, Affiliates, any Person acting under or at the direction of the Contractor and any Subcontractors and their
respective employees, agents and subcontractors, together with their successors and assigns. [EPC] 
 “Contractor’s
Taxes” has the meaning set forth in Section 2.2.13 of the EPC Agreement. [EPC] 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or
otherwise. For the purposes of this definition, and without limiting the generality of the foregoing, any Person that owns directly or indirectly 50% (provided, that with respect to Section 6.14 of the Credit Agreement,
Section 3.2.1.5, Section 3.2.1.6 and Section 3.2.2.5 of the Account and Security Agreement and the definition of Required Lenders, 10%) or more of the Equity Interests having ordinary voting power for the
election of the directors or other governing body of a Person (other than as a limited partner of such other Person) will be deemed to “control” such other Person. “Controlling” and
“Controlled” have meanings correlative thereto. [CA, Schedule Z] 
 “Controlled Foreign
Corporation” means “controlled foreign corporation” as defined in the United States Internal Revenue Code of 1986, as amended from time to time. [ASA] 
  

 - 12 - 

 “Consultation” or “Consult” means to confer with, and
reasonably consider and take into account the reasonable suggestions, comments or opinions of another Person. [LLCA] 
 “Consistent Return” shall have the meaning specified in Section 7.9 of the LLC Operating Agreement. [LLCA] 
 “Construction Account” means the Construction Account set forth in Section 2.1.1 of the Account and Security Agreement. [ASA, Schedule Z] 
 “Copyright Licenses” means any and all agreements providing for the granting of any right in or to Copyrights (whether the
Company is licensee or licensor thereunder) including, without limitation, each agreement referred to in Schedule 6.6 of the Account and Security Agreement (as amended or supplemented from time to time). [ASA, Schedule Z]

 “Copyrights” means all United States, state and foreign copyrights, all mask works fixed in semi-conductor chip
products (as defined under 17 U. S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, now or hereafter in force throughout the world, all registrations and applications therefore including, without limitation, the applications
referred to in Schedule 6.6 of the Account and Security Agreement (as amended or supplemented from time to time), all rights corresponding thereto throughout the world, all extensions and renewals of any thereof, the right to sue for
past, present and future infringements of any of the foregoing, and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit. [ASA, Schedule Z] 
 “Cost Overrun” means, as of the Termination Payment Date, the amount by which (i) the sum of (w) the Budget
Commitment, plus (x) the Contract Price, plus (y) the aggregate amount of any Contingency Amounts requested and received by Contractor pursuant to Section 5.1.3 of the EPC Agreement, plus
(z) the aggregate amount of all other capitalized fees, costs and expenses of constructing and completing the Facility (without duplication of any amounts), in each case, as of such date, exceeds (ii) the Project Budget.
[EPC] 
 “CPI” means the nonseasonally adjusted Consumer Price Index for urban wage earners and clerical
workers as published by the United States Bureau of Labor Statistics. [Schedule Z] 
 “CPI Adjustment” means
the sum of: (i) one; plus (ii) the percentage change (expressed in decimal form) from the prior year in the CPI or such other equivalent index as may be mutually agreed upon by the parties from time to time. [O&M,
LLC] 
 “Credit Agreement Default” means an event or condition the occurrence or existence of which would, with
the lapse of time or the giving of notice or both, becomes a Credit Agreement Event of Default; provided, that to the extent that such event or condition expressly provides for a specified period of time or time for performance or
completion under the Credit Agreement (excluding any grace periods), such event or condition shall not be a Credit Agreement Default until such specified time period has expired or time has passed. [ASA, CA, ECCA, Schedule Z]

 “Credit Agreement Event of Default” has the meaning specified in Section 7 of the Credit
Agreement. [ASA, CA, Schedule Z] 
  

 - 13 - 

 “Curative Flip Allocation” has the meaning set forth in
Section 6.5(e) of the LLC Operating Agreement. [LLCA] 
 “Debt” means, for any Person, the
sum of the following (without duplication): (a) all obligations of such Person for borrowed money or evidenced by bonds, bankers’ acceptances, debentures, notes or other similar instruments; (b) all obligations of such Person (whether
contingent or otherwise) in respect of letters of credit, surety or other bonds and similar instruments; (c) all accounts payable and all accrued expenses, liabilities or other obligations of such Person to pay the deferred purchase price of
Property or services; (d) all obligations under Capital Leases; (e) all obligations under Synthetic Leases; (f) all Debt (as defined in the other clauses of this definition) of others secured by (or for which the holder of such Debt
has an existing right, contingent or otherwise, to be secured by) a Lien on any Property of such Person, whether or not such Debt is assumed by such Person; (g) all Debt (as defined in the other clauses of this definition) of others guaranteed
by such Person or in which such Person otherwise assures a creditor against loss of the Debt (howsoever such assurance shall be made) to the extent of the lesser of the amount of such Debt and the maximum stated amount of such guarantee or assurance
against loss; (h) all obligations or undertakings of such Person to maintain or cause to be maintained the financial position or covenants of others or to purchase the Debt or Property of others (other than purchases of materials and equipment
in the ordinary course of business); (i) obligations to deliver commodities, goods or services in consideration of one or more advance payments; (j) any Debt (as defined in other clauses of this definition) of a partnership for which such
Person is liable either by agreement, by operation of law or by requirement of a Governmental Authority but only to the extent of such liability; (k) Disqualified Capital Stock; and (l) any purchase money security interest in any property,
or interest therein created or; assumed contemporaneously with the purchase of such property, or interest therein, to secure or provide for the payment or financing of any part of the purchase price thereof. The Debt of any Person shall include all
obligations of such Person of the character described above to the extent such Person remains legally liable in respect thereof notwithstanding that any such obligation is not included as a liability of such Person under GAAP. [ASA, CA, EPC,
LLCA, Schedule Z] 
 “Debt Service” means, with respect to any measurement period, the aggregate amount of
scheduled principal, interest and fees required to be paid on or in connection with the Obligations during such measurement period. [ASA, CA, Schedule Z] 
 “Debt Service Account” means the Debt Service Account set forth in Section 2.1.1 of the Account and Security Agreement. [ASA, Schedule Z] 
 “Debt Service Reserve Account” means the Debt Service Reserve Account set forth in Section 2.1.1 of the Account
and Security Agreement. [ASA, Schedule Z] 
 “Default Rate” has the meaning specified in
Section 2.9 of the Credit Agreement. [CA] 
 “Defense Election” has the meaning set forth
in Section 7.3(b) of the Equity Capital Contribution Agreement. [ECCA] 
  

 - 14 - 

 “Delivery” or “Delivering” means delivery in a form and
manner pursuant to which the intended recipient thereof is capable of readily receiving, distributing or otherwise utilizing the subject matter of such delivery for its intended purpose. [CA, EPC, Schedule Z] 
 “Delivery Point” means the PacifiCorp substation at Mona, Utah or such other location where the electric energy generated by the
Facility is to be Delivered in order for the Facility to generate revenues. [EPC, Schedule Z] 
 “Demonstrated Geothermal
Capacity” means the lesser of 10.35 and the maximum generating capacity of the Facility (measured in MW) as supported by a Geothermal Resource and Energy Assessment Certificate. [Schedule Z] 
 “Demonstrated Operational Capacity” means the greatest amount of aggregate net MW of electrical output demonstrated by the
Facility during full operation pursuant to the Capacity Prove-Out and set forth on the Notice of Facility Substantial Completion. [Schedule Z] 
 “Deposit Accounts” (a) means all “deposit accounts” as defined in Article 9 of the UCC and (b) includes, without limitation, all of the accounts listed on Schedule
6.4 of the Account and Security Agreement under the heading “Deposit Accounts” (as such schedule may be amended or supplemented from time to time). [ASA, Schedule Z] 
 “Development Account” means the Development Account set forth in Section 2.1.1 of the Account and Security
Agreement. [ASA, CA, Schedule Z] 
 “Development Account Overage” means, as of any date, the amount by
which the balance of the Development Account as of such date exceeds the Development Account Minimum Balance. [EPC] 
 “Development Account Minimum Balance” means the Development Account Target Balance; provided, that if a Buy-Down Trigger Event occurs, then Development Account Minimum Balance shall mean the product of
(i) the Development Account Target Balance, multiplied by (ii) a fraction, the numerator of which is the Actual Efficiency and the denominator of which is 9.614. [ASA, Schedule Z] 
 “Development Account Target Balance” means $5,000,000. [Schedule Z] 
 “Discounted Value” means, with respect to the Called Principal of any Advance, the amount obtained by discounting all Remaining
Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the
same periodic basis as that on which interest on the Obligations is payable) equal to the Reinvestment Yield with respect to such Called Principal. [Schedule Z]  
  

 - 15 - 

 “Disputes” has the meaning specified in the applicable Agreement in which such
term is used. [EPC, O&M] 
 “Disqualified Capital Stock” means any Equity Interest that, by its terms (or
by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event, matures or is mandatorily redeemable for any consideration other than other Equity Interests (which would not constitute
Disqualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is convertible or exchangeable for Debt or redeemable for any consideration other than other Equity Interests (which would not constitute Disqualified Capital Stock)
at the option of the holder thereof, in whole or in part, on or prior to the date that is one year after the earlier of (a) the Final Maturity Date and (b) the date on which there are no obligations outstanding under the Credit
Agreement. [CA, Schedule Z] 
 “Disqualified Transferee” means any Person, which is, or whose Affiliate
is, then (a) a party adverse in any pending or threatened action, suit or proceeding to the Company or any Member or an Affiliate thereof, if (i) the Company (with the Consent of the Members) or such Member (in its sole and absolute
discretion), as applicable, shall not have consented to the Transfer to such Person and (ii) the matter at stake in such action, suit or proceeding is material to the Company or Member, as applicable, or (b) a Person to whom electricity is
sold prior to the end of the PTC Period or is not an Unrelated Person. [LLCA] 
 “Distributable Cash” means,
as of any date, all cash, cash equivalents and liquid investments (excluding Capital Contributions) held by the Company as of such date less all reserves that, in the reasonable judgment of the Managing Member, are necessary or appropriate for the
operation of the Company or the Facility consistently with the Annual Operating Plan and Budget and Prudent Practices, less amounts necessary to repay Working Capital Loans, and less the Management Fee. Reasonable reserves shall consist of any
combination of the following reserves as reasonably determined by the Managing Member: (i) necessary for payment of expenses included in the Annual Operating Plan and Budget, (ii) necessary to prevent or mitigate an emergency
situation, (iii) established with the prior written consent of the Members (by Class Majority Vote), (iv) necessary to allow the Company to meet expenses that are clearly identified and expected with reasonable certainty to become
due, but that are not included in the Annual Operating Plan and Budget, or (v) necessary to ensure sufficient spare parts or the payment of operational and maintenance costs for the Facility. [LLCA] 
 “Distribution Conditions” means: 
 (a) no Credit Agreement Default or Credit Agreement Event of Default has occurred and is continuing; 
 (b)
the Final Completion Date has occurred; 
 (c) (x) the Debt Service Reserve Account is funded in an amount not less than the Minimum
Debt Service Reserve and (y) the Maintenance Reserve Account is funded in an amount not less than the Maintenance Reserve Required Balance; and 
 (d) the Historical DSCR that corresponds to the Payment Quarterly Transfer Date on which such distribution is being contemplated under Section 3.2.1.8 of the Account and 

  

 - 16 - 

 
Security Agreement (as calculated under Section 5.2 of the Credit Agreement) is no less than the Minimum DSCR; and provided,
however, that the Distribution Conditions set forth in clause (d) and (e) above shall not be deemed to have been satisfied if the Company has exercised the option to make an equity payment pursuant to
Section 5.2.2 of the Credit Agreement. [ASA, CA] 
 “Distribution Date” means dates
selected by the Managing Member at least monthly. [LLCA] 
 “Documents” means all “documents” as defined in
Article 9 of the UCC. [ASA, EPC, LLCA, O&M, Schedule Z] 
 “Dollars” or “$” refers
to the lawful currency of the United States of America. [CA, EPC, O&M] 
 “Drilling Account” means the
Drilling Account set forth in Section 2.2.3 of the Account and Security Agreement. [ASA, CA, EPC, LLCA]  
 “Drilling Deposit” means the Capital Contributions as required under Section 2.2.3 of the Equity Capital Contribution Agreement and as may be made pursuant to Section 4.4 of the LLC
Operating Agreement. [ASA, CA] 
 “Drilling Reserve Target” means, as of any date, the greater of
(i) the amount identified as the “Required Drilling Escrow” set forth in the most recent Drilling Plan and Budget as of such date in accordance with Section 4.3 of the Equity Capital Contribution Agreement, and
(ii) the amount identified as the “Drilling Reserve Amount” set forth in the most recently issued Drilling Escrow Certificate as of such date in accordance with Section 4.4 of the Equity Capital Contribution
Agreement. [Schedule Z] 
 “Drilling Services” means all Services that are necessary or appropriate for
the purpose of production and reinjection of the geothermal resource to be obtained and maintained in connection with the operation of the Facility. [EPC, Schedule Z] 
 “Drilling Shortfall” means, as of any date, the amount by which (i) the Drilling Reserve Target as of such date,
exceeds (ii) the aggregate amount of capital contributions made by the Class B Investors immediately prior to such date. [ECCA] 
 “DSCR” means for any period, the ratio of (a) Gross Project Revenues received by the Company during such period, less the aggregate amount of the sum of (i)Reimbursable Costs, plus
(ii) Base Fee, plus (iii) Owner Maintenance Agreement Payments, plus (iv) O&M Site Document Payments, plus (v) O&M Other Payments, during such period to (b) Fixed Charges required to be paid
during such period. [CA, LLCA, Schedule Z] 
 “Effective Date” means, as used in any Agreement, the Effective
Date as defined in such Agreement. [ASA, ECCA, EPC, LLCA, O&M, Schedule Z, CA] 
  

 - 17 - 

 “Effective Date Capital Contributions” means the capital contributions by the
Class A Investors on the Effective Date, as determined in accordance with Section 2.1 of the Equity Capital Contribution Agreement. [CA, LLCA] 
 “EHS Permits” has the meaning specified in Section 4.6.2 of the Credit Agreement. [CA, ECCA]

 “Eligible Assignee” means (a) any Lender, and any Affiliate of any Lender; (b) a Person that is
(i) a commercial bank organized under the laws of the United States of America, or any state thereof, and having a combined capital and surplus of at least $100,000,000, (ii) a commercial bank organized under the laws of any other country
which is a member of the Organization for Economic Cooperation and Development (the “OECD”), or a political subdivision of any such country, and having a combined capital and surplus of at least $100,000,000; provided, that
such bank is acting through a branch or agency located in the United States, (iii) a finance company, insurance company or other financial institution or fund which is engaged in making, purchasing or otherwise investing in commercial loans for
its own account in the ordinary course of business, (iv) a Person (other than a natural person) that is engaged in the business of commercial banking or lending and that is (A) a Subsidiary of a Lender, (B) a Subsidiary of a Person of
which a Lender is a Subsidiary, (C) a Person of which a Lender is a Subsidiary or (v) that is administered or managed by (A) a Lender, (B) an Affiliate of a Lender or (C) an entity or an Affiliate of an entity that
administers or manages a Lender; provided, that notwithstanding any of the foregoing, none of the Company nor any of its Affiliates shall qualify as an Eligible Assignee under this definition. In addition, unless an Credit Agreement Event of
Default has occurred and is continuing, no Energy Company may be an Eligible Assignee unless approved by the Company (which approval shall not be unreasonably withheld, conditioned or delayed). [CA, Schedule Z] 
 “Eligible Facility” means an “eligible facility” as that term has the meaning set forth under 18 C.F.R.
§ 366.1 (2007). [ECCA]  
 “Emergency Condition” means the occurrence or significant risk of
imminent occurrence of an event that materially adversely affects the safety or protection of Persons or materially adversely affects, in whole or in part, the Facility, the Facility Site or other property located at or adjacent to the Facility Site
or materially adversely affects, in whole or in part, any natural resources located on or adjacent to the Facility Site. [O&M] 
 “Energy Company” means any Person, including such Person’s Affiliates and Subsidiaries that is engaged in the development, ownership, operation or management of renewable energy production and facilities.
[Schedule Z] 
 “Environmental Claim” means, with respect to any Person, any and all Claims by or against such
Person arising under, pursuant to or with respect to any violation, including alleged violations, of an Environmental Law or the Release, or alleged Release, of any Hazardous Material. [CA, EPC, O&M] 
 “Environmental Law” means any Applicable Laws, including all rules and regulations, relating to the environment, pollution,
protection of life, health or safety as affected by the 

  

 - 18 - 

 
environment or natural resources or any Hazardous Material, in each case, as may be in effect from time to time, including the Comprehensive Environmental
Response, Compensation and Liability Act, 42 U.S.C. § 9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq.; the Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq.; the Clean Air Act, 42 U.S.C.
§ 7401 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. § 1471 et seq.; the Toxic Substances Control Act, 15 U.S.C. §§ 2601 et seq.; the Oil Pollution Act, 33 U.S.C. § 2701 et seq.; the Emergency Planning and
Community Right-to-Know Act, 42 U.S.C. § 11001 et seq.; the Safe Drinking Water Act, 42 U.S.C. §§ 300f through 300j-26; the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq. [CA, ECCA, O&M, Schedule Z]

 “EPC Assets” means all Equipment and Materials comprising the Facility, satisfying the technical specifications
set forth in the Project Design Book with respect thereto, other than the Owner-Supplied Assets; provided, that if any Equipment and Materials could be deemed to be both EPC Assets and Owner-Supplied Assets, such Equipment and Materials shall
be deemed EPC Assets for any purposes under the EPC Agreement. [EPC, Schedule Z] 
 “EPC Other Payment”
has the meaning set forth in Section 5.2.3 of the EPC Agreement. [EPC]  
 “EPC Site Document
Payment” has the meaning set forth in Section 5.2.2 of the EPC Agreement. [EPC]  
 “Equipment” means: (a) all “equipment” as defined in the UCC, (b) all machinery, manufacturing equipment, data processing equipment, computers, office equipment, furnishings, furniture,
appliances, fixtures and tools (in each case, regardless of whether characterized as equipment under the UCC) and (c) all accessions or additions thereto, all parts thereof, whether or not at any time of determination incorporated or installed
therein or attached thereto, and all replacements therefor, wherever located, now or hereafter existing, including any fixtures. [ASA, EPC, Schedule Z] 
 “Equipment and Materials” means all equipment, machinery, apparatus, materials, articles, components, raw materials, supplies, parts, systems, structures and any other equipment or items
comprising or otherwise necessary or appropriate to be incorporated or integrated into, based on the design, engineering, construction, development, operation and maintenance of, as applicable, a geothermal power plant facility of a similar nature,
size and complexity as the Facility, in each case, based on the technical specifications and requirements set forth in the Project Design Book. [EPC, O&M, Schedule Z] 
 “Equity Base Case Model” means the Original Equity Base Case Model; provided, that if a Buy-Down Trigger Event occurs,
then “Equity Base Case Model” means the Recalculated Equity Base Case Model. [ECCA, EPC, LLCA, Schedule Z] 
 “Equity Interests” means shares of capital stock in a corporation, partnership interests in a partnership, membership interests in a limited liability company, beneficial interests in a trust or other equity
ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest. [CA, ECCA, Schedule Z] 
  

 - 19 - 

 “Equity Investors” means collectively, the Class A Investors, the
Class B Investors and the Class C Investor. [O&M, Schedule Z] 
 “Equity Transactions” the
transactions contemplated by the Equity Capital Contribution Agreement. [ECCA] 
 “ERISA” means the
Employee Retirement Income Security Act of 1974, as amended, and any successor statute. [CA, LLCA, Schedule Z] 
 “ERISA
Affiliate” means each trade or business (whether or not incorporated) which together with the Company would be deemed to be a “single employer” within the meaning of section 4001(b)(1) of ERISA or subsections (b), (c),
(m) or (o) of section 414 of the Code. [Schedule Z, CA] 
 “ERISA Event” means (a) a
“Reportable Event” described in section 4043 of ERISA and the regulations issued thereunder, except for any such events for which the 30-day notice to the PBGC has been waived, (b) the withdrawal of the Company or any ERISA Affiliate
from a Plan during a plan year in which it was a “substantial employer” as defined in section 4001(a)(2) of ERISA, (c) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under
section 4041 of ERISA, (d) the institution of proceedings to terminate a Plan by the PBGC, (e) receipt of a notice of withdrawal liability pursuant to section 4202 of ERISA or (f) any other event or condition which is likely to result
in the termination of, or the appointment of a trustee to administer, any Plan under section 4042 of ERISA. [CA] 
 “Event
of Abandonment” means the cessation of operation of the Project or abandonment of development and/or construction of the Project for more than thirty (30) consecutive days, (which period (a) shall be measured from the first
occurrence of a work stoppage and continuing until work of a substantial nature is resumed and thereafter diligently continued and (b) shall be extended to the extent any cessation of operations or other abandonment results from any Force
Majeure Event, a Casualty Event, Prudent Practice or pursuant to Section 4.3 or Section 4.4 of the EPC Agreement). [CA] 
 “Excepted Liens” means: (a) Liens for Taxes, assessments or other governmental charges or levies which are not delinquent or which are being contested in accordance with the requirements
of the Credit Agreement; (b) Liens in connection with workers’ compensation, unemployment insurance or other social security, old age pension or public liability obligations which are not delinquent or which are being contested in
good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (c) statutory landlord’s liens, operators’, vendors’, carriers’, warehousemen’s, repairmen’s,
mechanics’, suppliers’, workers’, materialmen’s, construction or other like Liens arising by operation of law in the ordinary course of business each of which is in respect of obligations that are not delinquent or which are
being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP and are bonded or pledged or enforcement of which could not reasonably be expected to have a Material Adverse Effect;
(d) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies and burdening only deposit accounts or other funds maintained with a creditor
depository institution; provided, that no such deposit 

  

 - 20 - 

 
account is a dedicated cash collateral account or is subject to restrictions against access by the depositor in excess of those set forth by regulations
promulgated by the Board and no such deposit account is intended by the Company to provide collateral to the depository institution; (e) easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any
Property of the Company for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of gas, oil, coal, geothermal water or steam or other minerals or timber, and other like purposes, or for the
joint or common use of real estate, rights of way, facilities and equipment, that do not secure any monetary obligations and which in the aggregate do not materially impair the use of such Property for the purposes of which such Property is held by
the Company or materially impair the value of such Property subject thereto; (f) Liens on cash or securities pledged to secure performance of tenders, surety and appeal bonds, government contracts, performance and return of money bonds, bids,
trade contracts, leases, statutory obligations, regulatory obligations and other obligations of a like nature incurred in the ordinary course of business; (g) judgment and attachment Liens not giving rise to a Credit Agreement Event of Default;
(h) matters identified in that certain title policy as such policy has been approved by the Required Lenders, and (i) Capital Leases to the extent permitted by Section 6.1.7 of the Credit Agreement; provided, that
any appropriate legal proceedings which may have been duly initiated for the review of such judgment shall not have been finally terminated or the period within which such proceeding may be initiated shall not have expired and no action to enforce
such Lien has been commenced; provided, further, that Liens described in clauses (a) through (d) shall remain “Excepted Liens” only for so long as no action to enforce such Lien has been commenced. [ASA, CA]

 “Excess Distributable Cash” means Distributable Cash for any given quarter (before taking into account the
Management Fee Bonus for such quarter) above the amount of Distributable Cash set forth for said quarter in Schedule Y to the LLC Operating Agreement. 
 “Excluded Taxes” means, with respect to any Lender or any other recipient of any payment to be made by or on account of any obligation of the Company hereunder or under any Financing Document,
(a) sales, capital gain, income or franchise taxes imposed on it by the United States of America or such other jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any
Lender, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which the Company is located, and (c) in the case of a
Foreign Lender, any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to the Credit Agreement (or designates a new lending office) or is attributable to such Foreign
Lender’s failure to comply with Section 2.13.7 of the Credit Agreement except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment),
to receive additional amounts with respect to such withholding tax pursuant to Section 2.13 of the Credit Agreement. [CA, Schedule Z] 
 “Expert” has the meaning set forth in Section 6.5.2 of the EPC Agreement. [EPC, LLCA] 
 “Extended Expiration Date” has the meaning set forth in Section 8.1 of the O&M Agreement. [O&M, Schedule Z] 
  

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 “Facility” means a
geothermal electricity generating plant with a net nameplate capacity rating of at least the Minimum Capacity Rating and all components related thereto, including fifty (50) PureCycle© 225 System geothermal power system turbines, components for the extraction and gathering of geothermal resources used in the operation of the Facility and components for the Delivery of electricity generated by the
Facility to the Delivery Point. For the avoidance of doubt, the Facility shall be comprised of the Equipment and Materials included within the EPC Assets and the Owner-Supplied Assets. [CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Facility Objectives” means (i) having at all times, in all material respects, the capacity and functional ability to
perform, on a continuing basis, the functions for which the Facility was designed and in accordance with the Project Design Book and Prudent Practices, (ii) satisfying the performance criteria set forth on Schedule C to the O&M
Agreement, as may be amended from time to time, (iii) having, procuring or otherwise obtaining the geothermal resources necessary to operate the Facility in accordance with the performance criteria set forth on Schedule C to the
O&M Agreement, and (iv) Delivering the electric energy generated by the Facility to the Delivery Point. [O&M] 
 “Facility Plan and Budget” means, with respect to the applicable Operating Year, an annual operating budget and capital budget, broken down on a monthly basis, setting forth in detail the following matters related to
the Facility: (A) anticipated operations, repairs and capital improvements (including any teardowns and major overhauls as separate budget items), (B) routine maintenance and overhaul schedules (including major maintenance),
(C) procurement (including equipment acquisitions and spare parts and consumable inventories indicating a breakdown of capital items and expense items), (D) staffing, personnel and labor activities (including unit rates for labor, hourly
rates for consultants who are not employees of the Operator or its Affiliates, and holidays to be observed), (E) administrative activities, and (F) data regarding other work proposed to be undertaken by Operator, together with an itemized
estimate, in detail reasonably acceptable to Owner, of all Reimbursable Costs to be incurred in connection therewith, together an annual operating plan setting forth underlying assumptions and implementation plans. [O&M] 
 “Facility Site” means the Permanent Parcels. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Facility Substantial Completion” has the meaning set forth in Section 6.2.1 of the EPC Agreement. [ASA,
CA, EPC, Schedule Z] 
 “Facility Substantial Completion Certificate” means the certificate substantially in the
form attached to the EPC Agreement as Exhibit D, as may be amended, restated or supplemented from time to time. [EPC, Schedule Z] 
 “Facility Substantial Completion Date” means the date upon which Facility Substantial Completion occurs in accordance with the requirements of the EPC Agreement. [CA, EPC, Schedule Z]
 
  

 - 22 - 

 “Federal Book-Entry Regulations” means (a) the federal regulations contained
in Subpart B (“Treasury/Reserve Automated Debt Entry System (TRADES)” governing Book-Entry Securities consisting of U.S. Treasury bonds, notes and bills) and Subpart D (“Additional Provisions”) of 31 C.F.R. Part 357, 31 C.F.R.
§ 357.10 through § 357.14 and § 357.41 through § 357.44 (including related defined terms in 31 C.F.R. § 357.2); and (b) to the extent substantially identical to the federal regulations referred to in clause
(a) above (as in effect from time to time), the federal regulations governing other Book-Entry Securities. [ASA] 
 “Federal Funds Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System
arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if that rate is not so published for any day that is a Business Day, Deutsche Bank Trust Company Americas Federal funds
broker rate of recognized standing selected by it. [CA] 
 “FERC” means the Federal Energy Regulatory
Commission or any successor thereto. [ECCA, LLCA, Schedule Z, CA] 
 “Final Completion” has the meaning set
forth in Section 6.3.1 of the EPC Agreement. [ASA, ECCA, EPC, O&M, Schedule Z, CA] 
 “Final
Completion Certificate” means the certificate substantially in the form attached to the EPC Agreement as Exhibit E, as may be amended, restated or supplemented from time to time. [EPC, Schedule Z] 
 “Final Completion Date” means the date upon which Final Completion occurs in accordance with the requirements of the EPC
Agreement. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Final Development Account Distribution
Date” has the meaning assigned in Section 3.9.3.5 of the Account and Security Agreement. [ASA, CA] 
 “Final Maturity Date” means December 31, 2026 or such earlier date on which a Credit Agreement Event of Default occurs and the Obligations are accelerated pursuant to Section 8.1 of the Credit
Agreement. [CA, Schedule Z] 
 “Financial Officer” means, for any Person, the chief financial officer,
principal accounting officer, treasurer or controller of such Person. Unless otherwise specified, all references in the Credit Agreement to a Financial Officer means a Financial Officer of the Company. [CA, Schedule Z] 
 “Financing Conversion Date” means the date on which the Lenders obtain all right, title and interest of the Class B Investors in
the membership interests of the Company pursuant to the Class B Investors Pledge Agreement. [EPC, O&M] 
 “Financing Expiration Date” means (a) when used in the EPC Agreement and the O&M Agreement, the later of (i) the date on which the aggregate principal amount, together with any accrued and
unpaid interest thereon, and any other amount due and payable under the 

  

 - 23 - 

 
Credit Agreement has been repaid in accordance with the terms and conditions thereof and the Commitments and the Financing Documents have been
terminated and (ii) the Flip Date and (b) when used in the Financing Documents, the date on which the aggregate principal amount, together with any accrued and unpaid interest thereon, and any other amount due and payable under the
Credit Agreement has been repaid in accordance with the terms and conditions thereof and the Commitments. [ASA, EPC, O&M] 
 “Fiscal Quarter” means any of the fiscal quarterly accounting periods of the Company, ending March 31, June 30, September 30, and December 31. [CA, Schedule Z] 
 “Fixed Charges” means, for any period, the sum, for the Company, of the following items during such period: (a) Interest
Expense to the extent actually paid in cash, (b) scheduled payments of principal of Debt, including under the Credit Agreement and (c) the portion of payments, other than optional payments, made under Capital Leases that should be
treated as payment of principal in accordance with GAAP. [Schedule Z] 
 “Fixed Tax Assumptions” means the
following assumptions: (1) the Class A Investors are and will be fully taxable at a thirty five percent (35%) federal income tax rate (and any state, local, foreign or other income taxes are inapplicable) and will be able to utilize
fully all regular federal income tax benefits allocated to them from the Company, (2) the Company is and will be the sole owner of the Project for federal income tax purposes, (3) the applicable depreciation periods, methods and
conventions are as set forth in the Equity Base Case Model; provided that such depreciation periods, methods and conventions shall not include the amounts allocated to particular assets, (4) the Company is classified as a partnership for
federal income tax purposes for all periods after the Effective Date, (5) so long as it is still a Member, the Class A Investors will be treated as partners for federal income tax purposes for all periods after the Effective Date and will
be subject to tax as partners, under Code Section 702 and subchapter K of Chapter 1 of the Code, upon their distributive shares of Company income, gain, loss, deduction and credit, and (6) the allocation of items of income, gain, loss,
deduction and credit among the Members shall be respected for federal income tax purposes; provided that this is an assumption only that the allocations in Article V of the LLCA will be respected under subchapter K of the Code and not
an assumption about the actual amounts and timing of income, gain, loss, deduction and credit, not an assumption about the opening Capital Account balances of the Members, not an assumption about how payments or distributions by the Company will be
characterized for tax purposes and their resulting effects on the Capital Accounts and outside bases of the Members, and not an assumption about the proper book recovery methods in cases where there is a book-tax disparity. [LLCA] 

“Flip Date” means the last day of the month in which the Class A Investors achieve an Internal Rate of Return equal to or
greater than the Target IRR. [LLCA] 
 “Flip Purchase Option” means the purchase option under
Section 9.7 of the LLC Operating Agreement. 
 “Force Majeure” or “Force Majeure
Event” means, with respect to any Agreement, an event or circumstance that affects a Party’s ability to perform its obligations under such Agreement to the extent such event or circumstance (a) intentionally omitted,
(b) was beyond the 

  

 - 24 - 

 
reasonable control of such Party, (c) the effects of which are incapable of being prevented, overcome or mitigated by the reasonable efforts of such
Party and (d) did not result from the fault or negligence of the Party claiming Force Majeure. Such events or circumstances may include, but are not limited to, action or inaction of a governmental authority, acts of nature, drought, flood,
earthquake, tornado, hurricane, storm, fire, lightning, or other unusually severe weather, epidemic, war, riot, civil disturbance, unavailability of or disruption to transportation or transportation systems, or other natural disasters, embargo,
blockade, sabotage, terrorism, or the threat of such acts, explosions, strikes, boycotts, work slowdowns, or other labor disputes (it is understood that a strike, boycott, work slowdown, or other labor dispute directed at a Party shall not be deemed
a Force Majeure Event with respect to such Party), the existence of Hazardous Substance not caused by the Party claiming Force Majeure (which existence is not otherwise a violation or breach of such Agreement, including a breach of the
representations and warranties made herein), order or judgments of any governmental authority (other than the granting of Governmental Approvals), the absence, suspension, termination, interruption, delay, denial, or failure of renewal of any
Governmental Approval the procurement of which was or is not the responsibility of the Party claiming Force Majeure or for which application was duly and timely made by the responsible Party and in respect of which the affected Party is otherwise in
compliance, if applicable, a change of Applicable Law that materially prevents the affected Party from performing its obligations under the relevant Agreements, or other similar event, which, in each case, to the extent that such event materially
adversely affects or prevents a Party’s ability to perform its obligations under such Agreement and was not reasonably preventable or in the control of the Party claiming Force Majeure. Force Majeure Event includes, but is not limited to, the
failure of a contractor or supplier (other than the Contractor) to furnish labor, services, materials, or equipment in accordance with its contractual obligations; provided, that such failure is itself due to a Force Majeure Event. In no
instance shall any of the following be considered or constitute a Force Majeure Event: (i) availability of, or price levels or fluctuations with respect to labor, materials, services, supplies, equipment or other components related to items to
be procured, supplied or constructed by Contractor; (ii) economic hardship; (iii) lightning strikes that adversely affect the operation of Equipment and Materials powered by electricity; (iv) any delay or failure of Contractor to
obtain supplies, materials, equipment or other components for the Facility due to the delay or failure of any Person to perform any obligation owed to Contractor, unless such delay or failure is caused by an event of Force Majeure materially
adversely affecting such Person; (v) equipment failure unless such failure is caused by an independent event of Force Majeure; (vi) domestic and/or foreign transportation delays unless such delays are caused by an independent event of
Force Majeure, or (vii) Excluded Changes of Law. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Foreign
Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Company is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia
shall be deemed to constitute a single jurisdiction. [CA, Schedule Z] 
 “Former Real Property” has the
meaning specified in Section 4.6.1 of the Credit Agreement. [CA] 
 “Full Revenue QTD”
means the first Quarterly Transfer Date immediately following the first full Fiscal Quarter occurring after the Final Completion Date. [ASA] 
  

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 “Funding Failure” means the failure of the Lenders to make Advances in
non-compliance with the Credit Agreement. [EPC] 
 “FPA” means the Federal Power Act and the
regulations of the FERC thereunder. [ECCA, LLCA] 
 “GAAP” means generally accepted accounting principles in
the United States of America as in effect from time to time subject to the terms and conditions set forth in Section 1.3 of the Credit Agreement. [CA, ECCA, LLCA, Schedule Z] 
 “General Intangibles” (a) means all “general intangibles” as defined in Article 9 of the UCC and
(b) includes, without limitation, all interest rate or currency protection or hedging arrangements, all tax refunds, all licenses, permits, concessions and authorizations, all Assigned Agreements, all ASA Intellectual Property and all Payment
Intangibles (in each case, regardless of whether characterized as general intangibles under the UCC). [ASA, Schedule Z] 
 “Geothermal Resource and Energy Assessment Certificate” means a certificate issued by the Geothermal Engineer substantially in the form attached to the EPC Agreement as Exhibit C, as may be amended,
restated or supplemented from time to time by the Geothermal Engineer. [EPC] 
 “Goods” (a) means all
“goods” as defined in Article 9 of the UCC and (b) includes, without limitation, all Inventory and Equipment and any computer program embedded in the goods and any supporting information provided in connection with such program if
(x) the program is associated with the goods in such a manner that is customarily considered part of the goods or (y) by becoming the owner of the goods, a Person acquires a right to use the program in connection with the goods (in each
case, regardless of whether characterized as goods under the UCC). [ASA] 
 “Governmental Approval” as used in
any Agreement means any license, consent, permit, authorization, requirement, environmental plan, certificate, waiver, franchise, variance, order, decision, registration, ruling and other approval or permission necessary or appropriate, including as
to zoning, environmental protection, pollution, sanitation, energy regulation, safety, siting or building, to be obtained from any Governmental Authority having jurisdiction over or with respect to the applicable Party to such Agreement, the
transactions contemplated by such Agreement and the performance of the Parties thereunder. [CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Governmental Authority” as used in any Agreement means, with respect to any matter, any federal, state or local government or any political subdivision thereof, taxing authority, instrumentality, regulatory body,
agency, instrumentality, authority, department, commission, board or bureau thereof or any federal, state or local court, tribunal or arbitrator, including but not limited to any environmental agency, in each case, having jurisdiction over or with
respect to the applicable Party to such Agreement, the transactions contemplated by such Agreement and the performance of the Parties thereunder. [CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
  

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 “Gross Asset Value” means, with respect to any asset, the asset’s adjusted
tax basis for federal income tax purposes, except as follows: 
 (a) the initial Gross Asset Value of any asset contributed by a Member to the
Company will be the Gross Fair Market Value of such asset as of the date of contribution; provided, that the initial Gross Asset Value of the assets deemed contributed to the Company by IRP on the Effective Date will be the value agreed to by
IRP and MLE and reflected in Schedule 4.2(d) to the LLC Operating Agreement; 
 (b) the Gross Asset Values of all Company
assets shall be adjusted to equal their respective fair market values at the times listed in Section 4.2(c) of the LLC Operating Agreement; 
 (c) the Gross Asset Value of any item of Company assets distributed to any Member shall be adjusted to equal the Gross Fair Market Value of such asset on the date of distribution; 
 (d) the Gross Asset Values of all Company assets shall be adjusted to reflect any adjustments to the adjusted basis of such assets pursuant to
Sections 734(b) or 743(b) of the Code, but only to the extent that such adjustments are required to be taken into account in determining Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m); provided,
however, that Gross Asset Values shall not be adjusted pursuant to this subsection (d) to the extent that the Managing Member determines that an adjustment pursuant to subsection (b) is necessary or appropriate in connection with a
transaction that would otherwise result in an adjustment pursuant to this subsection (d); and 
 (e) if the Gross Asset Value of an
asset has been determined or adjusted pursuant to subsection (a), (b) or (d) above, such Gross Asset Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset. [LLCA] 
 “Gross Project Revenues” means all payments to the benefit of the Company (determined on an actual receipts basis), including
(a) all payments made under the Project Documents, (b) interest, dividend and other income in respect of sums standing to the credit of the Security Accounts, (c) any proceeds of any business interruption, delay-in-start-up or loss of
profit insurance, (d) any refunds of tax of any kind, and (e) any other income, receipts or gains (including any such income, receipts or gains as are of a non-recurring or extraordinary nature) from whatever source (other than pursuant to
the Financing Documents except as provided in clause (b) hereof) and whether or not attributable to the Project; provided, that notwithstanding the foregoing, (i) interest, dividends and other income paid or deposited into the
Distribution Account shall not constitute “Gross Project Revenues”, and (ii) equity investments in the Company other than (A) the Capital Contribution Commitment and (B) equity investments made in accordance with the proviso
of Section 5.2.2 of the Credit Agreement shall not constitute “Gross Project Revenues.” [ASA, CA, Schedule Z] 
 “Guaranteed Final Completion Date” means the earlier of (i) one hundred and eighty (180) calendar days after the Facility Substantial Completion Date and (ii) June 15, 2009. [ASA, CA,
EPC, O&M, Schedule Z] 
  

 - 27 - 

 “Hazardous Material” means any petroleum or petroleum product (including but not
limited to waste petroleum), contaminant, chemical product or intermediate, chemical by-product, flammable material, explosive, radioactive substances, asbestos in any form, urea formaldehyde foam insulation, polychlorinated biphenyls, or other
chemicals defined in Environmental Laws as hazardous substances, hazardous wastes, extremely hazardous wastes, solid wastes, toxic substances, pollutants or contaminants. [CA, ECCA, EPC, O&M, Schedule Z, CA] 
 “Highest Lawful Rate” means, with respect to each Lender, the maximum nonusurious interest rate, if any, that at any time or from
time to time may be contracted for, taken, reserved, charged or received on the Obligations under laws applicable to such Lender which are presently in effect or, to the extent allowed by law, under such Applicable Laws which may hereafter be in
effect and which allow a higher maximum nonusurious interest rate than Applicable Laws allow as of the Effective Date. [CA] 
 “Historical DSCR” means, with respect to any Quarterly Transfer Date, the
DSCR for the four Fiscal Quarter periods ending on the last day of the full Fiscal Quarter immediately preceding such Quarterly Transfer Date; provided, that (a) for the first full Fiscal Quarter occurring after the Final Completion
Date, “DSCR” shall mean the “DSCR” for such Fiscal Quarter then ending multiplied by four, (b) for the second full Fiscal Quarter occurring after the Final Completion Date, “DSCR” shall mean the “DSCR”
for such two Fiscal Quarters then ending multiplied by 2, and (c) for the third full Fiscal Quarter after the Final Completion Date, “DSCR” shall mean the “DSCR” for such three Fiscal Quarters then ending multiplied by  4/3. [CA, Schedule Z] 
 “Indemnified Claims” has the meaning set forth in Section 7.1 of the Equity Capital Contribution Agreement. [ECCA] 
 “Indemnification Notice” has the meaning set forth in Section 7.3(a) of the Equity Capital Contribution
Agreement. [ECCA] 
 “Independent Accounting Firm” means an accounting firm that is acceptable to a
majority of the Class A Investors and the Class B Investors. 
 “Independent Engineer Reports” means the
reports and certifications delivered by the Independent Engineer pursuant to Article VI of the EPC Agreement. [CA] 
 “Initial Expiration Date” has the meaning set forth in Section 8.1 of the O&M Agreement. [O&M, Schedule Z] 
 “Instruments” means all “instruments” as defined in Article 9 of the UCC. [ASA] 
 “Insurance” means: (a) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral
Agent is the loss payee thereof) and (b) any key man life insurance policies. [ASA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Insurance Consultant’s Report” means the report of the Insurance Consultant which confirms that the insurance coverages for both the construction and operation periods of the 

  

 - 28 - 

 
Project comply with the insurance requirements of Section 5.12 of the Credit Agreement. [Schedule Z] 
 “Intellectual Property” means, as to the Company, the Company’s now owned and hereafter arising or acquired: patents, patent
rights, patent applications, copyrights, works which are the subject matter of copyrights, copyright applications, copyright registrations, trademarks, servicemarks, trade names, trade styles, trademark and service mark applications, and licenses
and rights to use any of the foregoing and all applications, registrations and recordings relating to any of the foregoing as may be filed in the United States Copyright Office, the United States Patent and Trademark Office or in any similar office
or agency of the United States, any State thereof, any political subdivision thereof or in any other country or jurisdiction, together with all rights and privileges arising under Applicable Law with respect to the Company’s use of any of the
foregoing; all extensions, renewals, reissues, divisions, continuations, and continuations-in-part of any of the foregoing; all rights to sue for past, present and future infringement of any of the foregoing; inventions, trade secrets, formulae,
processes, compounds, drawings, designs, blueprints, surveys, reports, manuals, and operating standards; goodwill (including any goodwill associated with any trademark or servicemark, or the license of any trademark or servicemark); customer and
other lists in whatever form maintained; trade secret rights, copyright rights, rights in works of authorship; software and contract rights relating to computer software programs, in whatever form created or maintained. [ASA, CA, ECCA, Schedule
Z] 
 “Interconnection Assets” has the meaning set forth in Article XI of the Account and Security Agreement.
[ASA] 
 “Interest” means the interest of a Member in the Company, including rights to distributions
(liquidating or otherwise), allocations, and to vote, consent or approve, if any. [CA] 
 “Interest Expense”
means, for any period, the aggregate interest expense for the Company. [Schedule Z] 
 “Internal Rate of
Return” means the discount rate that sets A equal to B, where A is the present value of (a) the Production Tax Credits allocated to the Class A Investors, plus (b) the tax savings from tax losses or deductions
allocated to the Class A Investors (excluding any such losses or deductions that are suspended under section 704(d) of the Code but only for the period that the losses or deductions are suspended), plus (c) the cash distributed to
the Class A Investors, including any Buy-Down LLC Redemption Amount, plus (d) any indemnity payments by IRP to MLE under Article VII of the Equity Capital Contribution Agreement that compensate for loss of any item
listed in the foregoing clauses (a), (b) and (c), minus (e) the tax detriment from any taxable income or gain allocated to the Class A Investors by the Company and from any gain recognized by the Class A Investors under
section 731(a) of the Code (including after a deemed cash distribution caused by a shift in how liabilities are shared in the outside bases of the Members on the Flip Date), and B is the present value of the Capital Contributions made by MLE on the
both the Effective Date and the Second Funding Date. However, if the Flip Purchase Option is exercised, when the parties calculate the minimum Purchase Price the Class A Investors require to reach or maintain the Target IRR, the tax detriment
taken into account under clause (e) will include taxes on gain on the sale of the Class 

  

 - 29 - 

 
A Interests. Section 6.5(c) of the LLC Operating Agreement has a list of other assumptions and conventions that will be used when
calculating the Internal Rate of Return. [LLCA, Schedule Z] 
 “Inventory” means, with respect to the Company:
(a) all “inventory” as defined in the UCC and (b) all goods held for sale or lease or to be furnished under contracts of service or so leased or furnished, all raw materials, work in process, finished goods, and materials used or
consumed in the manufacture, packing, shipping, advertising, selling, leasing, furnishing or production of such inventory or otherwise used or consumed in the Company’s business; all goods in which the Company has an interest in mass or a joint
or other interest or right of any kind; and all goods which are returned to or repossessed by the Company, all computer programs embedded in any goods and all accessions thereto and products thereof (in each case, regardless of whether characterized
as inventory under the UCC). [ASA, Schedule Z] 
 “Investment” means, for any Person: (a) the acquisition
(whether for cash, Property, services or securities or otherwise) of Equity Interests of any other Person or any agreement to make any such acquisition (including, without limitation, any “short sale” or any sale of any securities at a
time when such securities are not owned by the Person entering into such short sale); (b) the making of any deposit with (other than deposits to Deposit Accounts in the ordinary course of business), or advance, loan or capital contribution to,
assumption of Debt of, purchase or other acquisition of any other Debt or equity participation or interest in, or other extension of credit to, any other Person (including the purchase of Property from another Person subject to an understanding or
agreement, contingent or otherwise, to resell such Property to such Person, but excluding any such advance, loan or extension of credit having a term not exceeding ninety (90) days representing the purchase price of inventory or supplies sold
by such Person in the ordinary course of business); (c) the purchase or acquisition (in one or a series of transactions) of Property of another Person that constitutes a business unit or (d) the entering into of any guarantee of, or other
contingent obligation (including the deposit of any Equity Interests to be sold) with respect to, Debt or other liability of any other Person and (without duplication) any amount committed to be advanced, lent or extended to such Person. [ASA,
CA, EPC, Schedule Z] 
 “Investment Related Property” means: (a) all “investment property” (as
such term is defined in Article 9 of the UCC) and (b) all of the following (regardless of whether classified as investment property under the UCC): all Pledged Equity Interests, Pledged Debt, the Collateral Account, Securities Accounts,
Commodities Accounts, Deposit Accounts and certificates of deposit. [ASA, Schedule Z] 
 “IRS” means the
Internal Revenue Service or any successor agency. [ECCA, LLCA, Schedule Z] 
 “Knowledge” of Raser, IRP or the
Company means the actual knowledge of Brent M. Cook, Martin F. Petersen, Richard D. Clayton and Sean McBride. [ECCA] 
 “kW” means kilowatt, a unit of measurement of electric energy output that is equivalent to one-thousand watts. 
 “Late Payment Rate” means the Prime Rate plus 2.0%. [O&M] 
  

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 “Leases” means, collectively as of any date, the Permanent Parcels, the
Collateral Parcels and the Resource Support Parcels, but excluding the Released Assets as of such date. [ECCA, Schedule Z] 
 “Lender Indemnitees” means, collectively, Lenders and their respective shareholders, partners, Affiliates, employees, representatives and agents, together with their successors and assigns. [CA] 
 “Lenders” means each of the lenders that is an initial signatory to the Credit Agreement or that, pursuant to
Section 16.2 of the Credit Agreement, becomes a “Lender” under the Credit Agreement. [ASA, CA, ECCA, O&M, Schedule Z] 
 “Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Lending Office” opposite its name on Schedule A to the Credit Agreement
or in the Assignment and Acceptance pursuant to which it became a Lender, or such other office of such Lender as such Lender may from time to time specify to the Company and the Administrative Agent. [CA] 
 “Letter of Credit Right” has the meaning specified in Article 9 of the UCC. [ASA] 
 “Liability” means, with respect to any Person, any liability, expense or obligation of such Person of any kind, character or
description, whether known or unknown, absolute or contingent, accrued or unaccrued, disputed or undisputed, liquidated or unliquidated, secured or unsecured, joint or several, due or to become due, vested or unvested, executory, determined,
determinable or otherwise. [ECCA, LLCA, O&M] 
 “Lien” means any security interest, community or other
material property interest, pledge, mortgage, option, lien (including environmental and Tax liens), assessment, lease, charge, encumbrance, claim, preferential arrangement, condition, equitable interest, license, right-of-way, easement,
encroachment, right of first refusal, buy/sell agreement or any other restriction of any kind, including any restriction or covenant with respect to, or condition governing, the use, voting, transfer, receipt of income or other exercise of any
attributes of ownership. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “LLC Act” means the Delaware
Limited Liability Company Act, 6 Del. Code §§ 18.101 et. seq., as amended from time to time, and any successor to such Act. [ECCA, LLCA] 
 “Loss Proceeds” means (a) any proceeds from insurance (other than business interruption, delay-in-startup or loss of profit insurance) or other funds paid to compensate the Company for
damage or loss to the Project or any portion thereof including, without limitation , in connection with any Casualty Event. [ASA, CA] 
 “Loss Proceeds Withdrawal Request” has the meaning specified in Section 2.6.1.2(7) of the Credit Agreement. [CA] 
 “Maintenance Reserve Account” means the Maintenance Reserve Account set forth Section 2.1.1 of the Account and
Security Agreement. [ASA]. 
  

 - 31 - 

 “Maintenance Reserve Required Balance” means in respect of a Fiscal Quarter, the
amount corresponding to such Fiscal Quarter as set forth on Schedule 2B of the Account and Security Agreement. [ASA, Schedule Z] 
 “Maintenance Reserve Withdrawal Request” means a Maintenance Reserve Withdrawal Request substantially in the form of Exhibit I of the Account and Security Agreement, duly executed
and delivered by all required signatories thereto. [ASA] 
 “Maintenance Standards” means with respect to any
O&M Services (i) compliance with all terms and conditions of the O&M Agreement and the Project Documents, including the warranty provisions relating to the Facility and the components thereof, (ii) compliance with the
Annual Operating Plan and Budget, (iii) compliance with all Applicable Laws, including Environmental Laws, and Governmental Approvals, (iv) the provision and performance all O&M Services in conformity with Prudent Practices and causing
the Facility to be in good working order in compliance with Prudent Practices, (v) compliance with the O&M Manual and all technical and operational guidelines and specifications relating to the Facility and the components thereof,
(vi) compliance with the terms and conditions of all insurance policies relating to the Facility and the Facility Site, (vii) performing such O&M Services in a manner to cause the Facility to be in at least as good a condition and
working order upon termination of the O&M Agreement as when the Facility and Facility Site were delivered to Operator under the O&M Agreement, ordinary wear and tear excepted, (viii) performing such O&M Services in a
manner to optimize of the useful life of the Facility, (ix) minimization of damage to the Facility and Facility downtime, (x) performing such O&M Services in a manner to minimize Reimbursable Costs under the O&M Agreement
and (xi) performing such O&M Services in the best interests of Owner and the Facility Objectives. [O&M] 
 “Major Decisions” means: 
 With respect to the Pre-Flip Period, any of the following: 
  

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 (a) Except for Debt under the Financing Document and customary unsecured trade payables incurred in the
ordinary course of business, incurring in any single transaction or in any series of related transactions Debt (including any Working Capital Loans made pursuant to Section 4.5 of the LLC Operating Agreement) such that the amount
of such Debt (excluding Debt under the Financing Documents and customary unsecured trade payables incurred in the ordinary course of business) outstanding at any point of time is in excess of $2,500,000; 
 (b) Entering into any (i) transaction between the Company and any Member or any Affiliate of a Member, other than any such transaction expressly
provided for in any of the Operative Documents, or (ii) amendment, modification or termination of any transaction between the Company and any Member, or any Affiliate of a Member provided for in any Operative Document; 

	(c)	Appointment of a new Managing Member or Operator; 

 (d)
Approving any Annual Operating Plan and Budget or any amendments or modifications thereto as provided in Section 6.1 of the O&M Agreement or as required pursuant to Section 7.2 of the LLC Operating
Agreement; 
 (e) Approving expenditures of more than $50,000 in the aggregate in a calendar year under the O&M Agreement, or
other similar agreement, that are not otherwise provided for in the Annual Operating Plan and Budget; 
 (f) Initiating any litigation or
arbitration, or settling claims, litigation or arbitration by or with respect to the Company if, as a result of such settlement, the Company would be obligated to pay more than $100,000, in the aggregate; 
 (g) Assuming, guaranteeing or becoming obligated for the payment of money or the performance of any contract or other obligation of any Person in excess
of $250,000 in the aggregate; 
 (h) Making any tax election, except as expressly provided for in the LLC Operating Agreement;

 (i) Causing the Company to be treated other than as a partnership for United States federal income tax purposes (including by electing
under Treasury Regulations Section 301.7701-3 to be classified as an association); 
 (j) Entering into (i) any material amendment,
modification, waiver, termination or replacement of the Company’s Certificate of Formation or of any Operative Document (other than this Agreement which requires the consent of all of the Members) or failing to enforce any provision of any
Operative Document if such amendment, modification, termination or failure would have a Material Adverse Effect on the Company or the Class A Investors; (ii) any additional Operative Document; or (iii) any new agreement with an
Affiliate of a Member or amending any economic provision of any existing contract with any such Affiliate; 
 (k) Permitting
(i) possession of property of the Company by any Member (unless such action is taken pursuant to the express terms of any Operative Document), (ii) the assignment, 

  

 - 33 - 

 
transfer or pledge of rights of the Company in specific property of the Company for other than a Company purpose or other than for the benefit of the
Company, or (iii) any commingling of the funds of the Company with the funds of any other Person; 
 (l) Amending, modifying,
terminating or permitting the expiration of, any material license and permit required for the operation, ownership, management or maintenance of the Facility or the sale or transmission of power therefrom; 
 (m) Making any distribution to any Member except as specified in the LLC Operating Agreement; 
 (n) Making any advance payment of compensation or other consideration to the Managing Member or any of its Affiliates; 
 (o)(i) Merging or consolidating the Company with any Member or other Person, (ii) changing the Company’s legal form; or recapitalizing,
liquidating, winding up or dissolve the Company, (iii) agreeing to an exchange of interests with any other Person, or (iv) acquiring all or substantially all of the assets or stock of any other Person; 
 (p) Admitting any additional Member of the Company except as permitted under Article IX of the LLC Operating Agreement; 
 (q) Except as otherwise specified in LLC Operating Agreement, causing the Company to (i) sell or issue any interest, or any option, warrant
or similar right to acquire any interest, of any kind in the Company, or (ii) distribute any Assets of the Company or redeem, purchase or otherwise acquire any interest in the Company, 
 (r) Causing the Company to engage in any business or activity that is not within the purpose of the Company, as described in Section 2.3 of
the LLC Operating Agreement, or to change such purpose; 
 (s) Allowing any Turbine to be modified or replaced or well to be shut
down; 
 (y) Causing or permitting the Company to receive or use any grant, tax-exempt financing, subsidized energy financing, or other
federal credits, each within the meaning of Section 45(b)(3) of the Code; 
 (t) Causing the Company to file a voluntary petition in
bankruptcy, or file any petition or answer or consent seeking any reorganization, arrangement, moratorium, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future Applicable Laws relating to
bankruptcy, insolvency or other relief for debtors, or seek or consent to the appointment of any trustee, receiver, conservator or liquidator of such Person or of all or any substantial part of its properties; 
 (u) Causing the Company (i) to admit in writing its inability to pay its debts as they mature, (ii) to give notice to any Governmental
Authority of insolvency or pending insolvency, or suspension or pending suspension of operations or (iii) to make a general assignment for the benefit of creditors or take any other similar action for the protection or benefit of creditors;

  

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 (v) Selling, leasing or otherwise voluntarily disposing of assets of the Company with an aggregate fair
market value in excess of $2,500,000 during any 12-month period, other than sales of energy and related environmental attributes under approved contracts or as part of an approved course of conduct; 
 (w) Causing or permitting any Encumbrance or grant of any Encumbrance on the assets or rights of the Company, other than Permitted Liens; 
 (x) Changing the method of tax accounting used by the Company to the extent any such change would have an adverse effect on eligibility to claim
Production Tax Credits or on the timing or amount of depreciation allowances; 
 (y) Causing or permitting the Company to hire any employees
or establish or participate in any employee benefit plans; 
 (z) Causing or permitting the Company to make loans to third parties; and

 (aa) Causing or permitting the Company to engage in any speculative energy trading, including trading of financial contracts, such as
swaps or derivatives that may be subject to FAS 133 accounting rules. 
 With respect to the period following the Flip Date, the matters in
paragraphs (o), (q), (t) and (v) above. [LLCA] 
 “Majority Vote” shall have the meaning set
forth in Section 3.2(f) of the LLC Operating Agreement. [LLCA] 
 “Make-Whole Amount”
means, with respect to any Advance, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Advance over the amount of such Called Principal; provided,
that the Make-Whole Amount may in no event be less than zero. [ASA, CA, Schedule Z] 
 “Management Fee” means
a quarterly fee payable to the Managing Member pursuant to Section 8.3 of the LLC Operating Agreement which will be payable at the end of each quarter in a Fiscal Year to the extent of available funds before any distribution of
Distributable Cash for such quarter and cumulative from quarter to quarter. The Management Fee shall be calculated as the sum of: (i) $500,000 per Fiscal Year for the initial Fiscal Year commencing on the Effective Date of the LLC Operating
Agreement (or prorated portion thereof if such initial Fiscal Year is less than twelve months), and escalating thereafter by two and a half percent (2.5%) per year; and (ii) the Management Fee Bonus. [ASA, CA, LLCA] 

“Management Fee Bonus” the Management Fee Bonus shall be paid to the Managing Member to provide an incentive to the Manager to
increase the megawatts generated at the Facility and to decrease the expenses of operating the Facility. The Management Fee Bonus shall be the lesser of (i) $1,000,000 per Fiscal Year or (ii) the sum of (A) the positive difference (if
any) between the amount set forth for property taxes on Schedule Y of the LLC Operating Agreement in any given year and the amount of actual property taxes paid for such year, which 

  

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amount shall be payable in one sum in the quarter in which property taxes are paid or would have been paid had there been a property tax burden; and
(B) 75% of the Excess Distributable Cash. 
 “Material Adverse Effect” means, with respect to the Company, a
material adverse change in, or material adverse effect on (a) the business, operations, Property, liabilities (actual or contingent) or financial condition of the Company, (b) the ability of the Company to perform any of its obligations
under any Financing Document or Project Document to which it is a party, (c) the validity or enforceability of any Financing Document, (d) the rights and remedies of or benefits available to any Lender under any Financing Document or
(e) completion of the Project on a timely basis as contemplated by the Project Budget and the Project Schedule. [CA, ECCA, Schedule Z] 
 “Material Indebtedness” means Debt (other than the Obligations) of the Company in an aggregate principal amount exceeding $250,000. [CA, ECCA] 
 “Material Project Party” means any party to an Operative Document, but only, in each case, upon or prior to the expiration or
early termination of the relevant Operative Document; provided, however, that the Lenders, Administrative Agent, Class A Investors, Class C Investor and the Collateral Agent shall not be Material Project Parties. [CA, ECCA]
 
 “Material Receivable” means any Receivable with an aggregate value in excess of $100,000. [CA]

 “Member Nonrecourse Debt” means “partner nonrecourse debt” as defined in Treasury Regulation
Section 1.704-2(b)(4). An example is where a Member or a person related to the Member makes a loan on a nonrecourse basis to the Company. [LLCA] 
 “Membership Interests” means the Class A Interests, the Class B Interests and the Class C Interests. [LLCA] 
 “Milestone(s)” means each event or condition identified as a “Milestone” in the Project Schedule attached as
Schedule F to the EPC Agreement. [CA, EPC, Schedule Z] 
 “Milestone Payment” means each payment
amount associated with each Milestone set forth in Schedule F to the EPC Agreement. [EPC, Schedule Z] 
 “Milestone Payment Request” has the meaning set forth in Section 5.1.2 of the EPC Agreement. [EPC] 
 “Milestone Payment Schedule” means the integrated schedule setting forth Milestones and the portion of the Contract Price payable with respect thereto, as set forth in Schedule F of the
EPC Agreement. [EPC] 
 “Milestone Progress Report” means a progress report containing the information
required by Section 2.3.2 of the EPC Agreement and submitted substantially in the form attached as Exhibit B of the EPC Agreement. [EPC] 
 “Minimum Capacity Rating” means 6.0 MW. [EPC, Schedule Z] 
  

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 “Minimum Debt Service Reserve” means, as of the date of determination, an amount
equal to the maximum projected debt service payments for the Project over the next immediately succeeding six (6) month period, which amount may be funded by an Approved Reserve Letter of Credit. [ASA, Schedule Z] 
 “Minimum DSCR” is 1.20:1.0. [CA, Schedule Z] 
 “Minimum Gain Attributable to Member Nonrecourse Debt” means the amount of minimum gain there is in connection with a Member
Nonrecourse Debt, calculated in the manner described in Treasury Regulation Section 1.704(i)(3). [LLCA] 
 “MLE
Indemnified Costs” has the meaning set forth in Section 9.1 of the Equity Capital Contribution Agreement. [ECCA] 
 “MLE Indemnified Parties” has the meaning set forth in Section 9.1 of the Equity Capital Contribution Agreement. [ECCA] 
 “Money” means “money” as defined in the UCC. [ASA] 
 “Moody’s” means Moody’s Investor Services, Inc. [Schedule Z] 
 “Multiemployer Plan” means a Plan which is a multiemployer plan as defined in section 3(37) or 4001 (a)(3) of ERISA. [CA]

 “MW” means megawatt, a unit of measurement for electric energy output that is equivalent to one million watts.
[EPC, ECCA, Schedule Z] 
 “Net Cash Flow” means, with respect to any measurement period, Gross Project
Revenues for such measurement period, less (i) Reimbursable Costs (excluding any Special Project Document Payments), Base Fee, the Owner Maintenance Agreement Payments, O&M Site Document Payments, and O&M Other Payments, for such
measurement period, less (ii) Debt Service for such measurement period. [Schedule Z] 
 “Non-Interference
Certificate” means the certificate substantially in the form attached to the LLC Agreement as Exhibit F, as may be amended, restated or supplemented from time to time. [LLCA] 
 “Nonrecourse Deduction” means a deduction for spending that is funded out of nonrecourse borrowing by the Company or that is
otherwise attributable to a “nonrecourse liability” of the Company within the meaning of Treasury Regulation Section 1.704-2. [LLCA] 
 “Note” means a promissory note evidencing the indebtedness owed to a Lender under the Credit Agreement. [CA] 
 “Notice” has the meaning set forth in Section 11.1 of the LLC Operating Agreement. [ASA, CA, LLCA,
O&M] 
  

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 “Notice of Dispute” has the meaning set forth in Section 9.7 of the
LLC Operating Agreement. [LLCA] 
 “Notice of Facility Substantial Completion” means the notice
substantially in the form attached to the EPC Agreement in Exhibit F, as may be amended, restated or supplemented from time to time. [EPC] 
 “Notice of Final Completion” means the notice substantially in the form attached to the EPC Agreement in Exhibit G, as may be amended, restated or supplemented from time to time.
[EPC] 
 “O&M Commencement Date” means the earlier of (i) the Facility Substantial Completion Date
and (ii) the Required Turbine Substantial Completion Date. [O&M]  
 “O&M Covered Costs” means
those fees, costs and expenses customarily attributed to overhead relating to the Operator’s conduct of its business of operating facilities similar to the Facility, including fees, costs and expenses relating to employees of the Operator that
are primarily engaged in business and activities other than on the Facility Site or with respect to the Facility. [O&M] 
 “O&M Due Date” means the date that is the 15th day of each February, May, August and November, unless such day is not a Business Day, then the Business Day next following commencing with the first O&M
Due Date occurring after the O&M Commencement Date. [O&M] 
 “O&M Liability Cap” means, with
respect to any Operating Year, an amount equal to the Base Fee for such Operating Year. [O&M] 
 “O&M
Manual” has the meaning set forth in Section 2.2.24 of the EPC Agreement. [CA, EPC, Schedule Z] 
 “O&M Other Payment” has the meaning set forth in Section 7.6 of the O&M Agreement. [O&M] 
 “O&M Services” mean all services and other obligations required to be provided by Operator under the O&M Agreement as described in Section 2.1 of the O&M
Agreement. [O&M] 
 “O&M Site Document Payment” has the meaning set forth in
Section 7.5 of the O&M Agreement. [O&M] 
 “O&M Subcontract” means any contract
for the provision or performance of any part of the O&M Services or the supply of any supplies, equipment, materials or other components in connection with the same, other than the O&M Agreement. [O&M, Schedule Z]

 “O&M Subcontractor” means each counterparty to an O&M Subcontract other than the Operator. [O&M,
Schedule Z] 
  

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 “O&M Termination Payment” means $90,000. [O&M] 
 “Obligations” means, without double counting, all present and future obligations and liabilities of the Company to the Agents and
the Lenders at any time and from time to time of every kind, nature and description, direct or indirect, secured or unsecured, joint and several, absolute or contingent, due or to become due, matured or unmatured, now existing or hereafter arising,
contractual or tortious, liquidated or unliquidated, in each case arising under any of the Financing Documents, including, without limitation, interest, all applicable fees, charges and expenses or all amounts paid or advanced by the Agents or the
Lenders on behalf of or for the benefit of the Company for any reason at any time, including in each case obligations of performance as well as obligations of payment and interest that accrue after the commencement of any proceeding under any Debtor
Relief Law by or against any such Person or its properties. [ASA, CA, EPC, O&M, Schedule Z] 
 “Officers”
has the meaning set forth in Section 8.7 of the LLC Operating Agreement. [LLCA] 
 “Operating
Year” means (i) in the case of the calendar year in which the O&M Commencement Date occurs, the period from and including the O&M Commencement Date to and including December 31st of such year, (ii) in the case of
each succeeding calendar year, the period from and including January 1st of each such calendar year to and including December 31st of each such succeeding calendar year and (iii) in the case of the calendar year in which termination
or expiration of the O&M Agreement occurs, the period from and including January 1st of such calendar year to the date upon which the O&M Agreement terminates or expires. [CA, O&M, Schedule Z] 
 “Operations Report” means the reports described in Section 2.7 of the O&M Agreement. [LLCA]

 “Operator Event of Default” shall have the meaning set forth in Section 8.2 of the O&M
Agreement. [O&M] 
 “Operator Indemnitees” means, collectively, Operator and its respective
shareholders, partners, Affiliates, employees, representatives and agents, together with their successors and assigns. [O&M] 
 “Operator’s Personnel” means, collectively, Operator, its employees, agents, Affiliates, any Person acting under or at the direction of the Operator and any O&M Subcontractors and their respective employees,
agents and subcontractors, together with their successors and assigns. [O&M] 
 “Ordinary Cash Trap
Amount” means, with respect to a Quarterly Transfer Date, the amount of Net Cash Flow set forth in the below chart: [ASA, CA] 
  

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	 Level
	  	 DSCR Range (for historic and projected DSCR)
	  	 Ordinary Cash Trap Amount

	Level I	  	Less than 1.40:1.00, but greater than 1.30:1.00	  	50% of Net Cash Flow for the Fiscal Quarter immediately preceding such Quarterly Transfer Date
			
	Level II	  	Less than or equal to 1.30:1.00, but greater than 1.20:1.00	  	75% of Net Cash Flow for the Fiscal Quarter immediately preceding such Quarterly Transfer Date
			
	Level III	  	Less than or equal to 1.20:1.00	  	100% of Net Cash Flow for the Fiscal Quarter immediately preceding such Quarterly Transfer Date

 “Ordinary Cash Trap Period” means any Fiscal Quarter after Final
Completion for which (a) the Historical DSCR that corresponds to the Quarterly Transfer Date occurring during such Fiscal Quarter (as calculated under Section 5.2 of the Credit Agreement) is less than the Target DSCR, or
(b) the Projected DSCR that corresponds to the Quarterly Transfer Date occurring during such Fiscal Quarter (as calculated under Section 5.2 of the Credit Agreement) is less than the Target DSCR, and for each consecutive
Fiscal Quarter thereafter for which any of the conditions set forth in clauses (a) or (b) are in effect. [ASA, CA, Schedule Z] 
 “Original Equity Base Case Model” means the Equity Base Case Model attached as Schedule I to the EPC Agreement as of the Effective Date in electronic form. [Schedule Z] 
 “Organizational Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the
bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and
(c) with respect to any partnership, joint venture, trust or other form of business entity, 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 of such
entity. [CA, ECCA] 
 “Other Taxes” has the meaning specified in Section 2.13.2 of the Credit
Agreement. [CA] 
 “Owner Construction Agreements” means all documents, agreements or other arrangements
relating to the provision, procurement or construction of any Owner-Supplied Assets, as the same may be amended, modified, supplemented or restated from time to time in 

  

 - 40 - 

 
accordance with their terms, which Owner Construction Agreements entered into as of the Effective Date of the EPC Agreement are set forth on
Schedule C of the EPC Agreement; provided, that the EPC Agreement shall not be deemed an Owner Construction Agreement for any purpose hereunder. [EPC, O&M, Schedule Z] 
 “Owner Construction Agreement Payment” has the meaning set forth in Section 5.2.1 of the EPC Agreement.
[EPC] 
 “Owner Construction Agreement Shortfall” means, prior to Final Completion, the amount by which the
aggregate amount then due and payable as of such date under all of the Owner Construction Agreements (other than with respect to indemnity and liability obligations thereunder for which Owner has procured insurance) exceeds the Budget
Commitment. [EPC] 
 “Owner Indemnitees” means, collectively, Owner and its respective shareholders, partners,
Affiliates, employees, representatives and agents, together with their successors and assigns. [EPC, O&M] 
 “Owner
Maintenance Agreements” means those documents, agreements or other arrangements relating to the performance and provision of Owner-Supplied Maintenance Services which Owner enters into directly with the provider thereof, as the same may
be amended, modified, supplemented or restated from time to time in accordance with their terms, which Owner Maintenance Agreements are identified on Schedule A to the O&M Agreement, as such schedule may be amended from time to
time in accordance with the O&M Agreement; provided, that the O&M Agreement shall not be deemed an Owner Maintenance Contract for any purpose hereunder. [O&M, Schedule Z] 
 “Owner Maintenance Agreement Payment” has the meaning set forth in Section 7.4 of the O&M Agreement.
[O&M] 
 “Owner-Supplied Assets” means all Services and Equipment and Materials identified or otherwise
described in Exhibit C to the EPC Agreement. [EPC, O&M, Schedule Z] 
 “Owner-Supplied Maintenance
Services” means all services relating to the operation, maintenance and administration of the Facility performed or provided pursuant to Owner Maintenance Agreements; provided, that the services provided under the O&M
Agreement shall not be deemed Owner-Supplied Maintenance Services for any purpose hereunder. [O&M, Schedule Z] 
 “Owner Termination Payment” has the meaning set forth in Section 13.2.1 of the EPC Agreement. [EPC] 
 “Parent” means, if applicable to a Member, the Person or Persons that directly or indirectly control such Member. [Schedule Z] 
 “Party” means, with respect to any Agreement as used therein, each signatory to such Agreement, together with its successors and
assigns. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
  

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 “Patent Licenses” means all agreements providing for the granting of any right in
or to Patents (whether the Company is licensee or licensor) including, without limitation, each agreement referred to in Schedule 6.6(D) of the Account and Security Agreement (as amended or supplemented from time to time). [ASA,
Schedule Z] 
 “Patents” means all United States, state and foreign patents and applications for letters patent
throughout the world, including, but not limited to each patent and patent application referred to in Schedule 6.6(C) of the Account and Security Agreement (as amended or supplemented from time to time), all reissues, divisions,
continuations, continuations-in-part, extensions, renewals, and reexaminations of any of the foregoing, all rights corresponding hereto throughout the world, and all proceeds of the foregoing including, without limitation, licenses, royalties,
income, payments, claims, damages, and proceeds of suit and the right to sue for past, present and future infringements of any of the foregoing. [ASA, Schedule Z] 
 “Payment Intangible” has the meaning specified in Article 9 of the UCC. [ASA, Schedule Z] 
 “Percentage Interest” means the Capital Account of a Member as a percentage of the sum of all Capital Accounts of the Members in the same membership class. [LLCA] 
 “Permanent Parcels” has the meaning set forth in Article XI of the Account and Security Agreement; provided, that
if the Development Account Release Certificate is not delivered to the Geothermal Engineer within 36 months of the Effective Date of the Account and Security Agreement, then Permanent Parcels shall also include the Resource Support Parcels.
[ASA] 
 “Permitted Liens” has the meaning specified in Section 6.2 of the Credit
Agreement. [ASA, CA, ECCA] 
 “Person” means any individual, corporation, partnership, limited liability
company, association, joint stock company, trust, unincorporated organization, joint venture, government or political subdivision or agency thereof. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Placed in Service” means, with respect to a Turbine, that such Turbine qualifies for production tax credits under section 45 of
the Code. [EPC, Schedule Z] 
 “Plan” means any employee pension benefit plan, as defined in section 3(2) of
ERISA, which (a) is currently or hereafter sponsored, maintained or contributed to by the Company or an ERISA Affiliate or (b) was at any time during the six calendar years preceding the Effective Date, sponsored, maintained or contributed
to by the Company or an ERISA Affiliate. [CA, Schedule Z] 
 “Plant Manager” has the meaning set forth in
Section 4.1.1 of the O&M Agreement. [O&M] 
 “Platform” has the meaning specified
in Section 14.2 of the Credit Agreement. [CA] 
  

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 “Pledge Supplement” means any supplement to the Account and Security
Agreement in substantially the form of Exhibit A of the Account and Security Agreement. [ASA] 
 “Pledged
Debt” means, with respect to the Company, all Debt owed to the Company, including, without limitation, all Debt described on Schedule 6.4 of the Account and Security Agreement under the heading “Pledged Debt” (as
such schedule may be amended or supplemented from time to time), issued by the obligors named therein, the instruments evidencing such Debt, and all interest, cash, instruments and other property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such Debt. [ASA, Schedule Z] 
 “Pledged Equity
Interests” means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and Pledged Trust Interests. [ASA, Schedule Z] 
 “Pledged LLC Interests” means, with respect to the Company, all interests in any limited liability company including, without limitation, all limited liability company interests listed on
Schedule 6.4 of the Account and Security Agreement under the heading “Pledged LLC Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such limited
liability company interests and any interest of the Company on the books and records of such limited liability company or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash,
warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such limited liability company interests. [ASA,
Schedule Z] 
 “Pledged Partnership Interests” means, with respect to the Company, all interests in any general
partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 6.4 of the Account and Security Agreement under the heading “Pledged
Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of the Company on the books and records of such partnership or on
the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such partnership interests. [ASA, Schedule Z] 
 “Pledged Stock” means, with respect to the Company, all shares of capital stock owned by the Company, including, without limitation, all shares of capital stock described on Schedule 6.4 of the Account and
Security Agreement under the heading “Pledged Stock” (as such schedule may be amended or supplemented from time to time), and the certificates, if any, representing such shares and any interest of the Company in the entries on the
books of the issuer of such shares or on the books of any securities intermediary pertaining to such shares, and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares. [ASA, Schedule Z] 
  

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 “Pledged Trust Interests” means, with respect to the Company, all interests in a
Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 6.4 of the Account and Security Agreement under the heading “Pledged Trust Interests” (as such schedule may be
amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of the Company on the books and records of such trust or on the books and records of any securities intermediary pertaining
to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of
such trust interests. [ASA, Schedule Z] 
 “Pre-Completion Interest Payment Date” means the last Business Day
of each December, March, June and September occurring before or on the Final Completion Date. [CA] 
 “Pre-Flip
Period” means the period commencing on the Effective Date and ending on the Flip Date. [Schedule Z] 
 “Prime
Rate” means, for any day, the “PRIME RATE” as published from time to time in ‘The Money Rates’ section of the Wall Street Journal (U.S. Edition), as such “PRIME RATE” may change from time to time. In
the event the Wall Street Journal ceases to publish the “PRIME RATE,” then the Parties shall agree as to a substitute reference which represents the base rate on corporate loans posted by major banks having one or more lending
offices in New York, New York. [EPC, Schedule Z] 
 “Pro Forma Basis” means for purposes of calculating the
financial covenant set forth in Section 5.2 of the Credit Agreement in connection with any event or transaction, or proposed event or transactions, such event or transaction shall be deemed to have occurred as of the first day of
the most recent twelve (12) month period preceding the date of such event or transaction for which the Administrative Agent has received financial statements pursuant to Section 5.1.1 or Section 5.1.2 of the Credit
Agreement, and including (a) with respect to the sale or other disposition of assets, (i) income statement and cash flow statement items (whether positive or negative) attributable to the assets disposed of shall be excluded to the
extent relating to any period occurring prior to the date of such transaction and (ii) Obligations which are retired shall be excluded and deemed to have been retired as of the first day of the applicable period and (b) with respect to any
acquisition, (i) income statement items attributable to the Person or property acquired shall be included to the extent relating to any period applicable in such calculations to the extent (A) such items are not otherwise included in such
income statement items for the Company and its Subsidiaries in accordance with GAAP or in accordance with any defined terms set forth in the Credit Agreement and (B) such items are supported by financial statements or other information
reasonably satisfactory to the Administrative Lender (it being understood that the Administrative Lender’s reasonable satisfaction shall apply only to the inclusion of the income statement items attributable to the Person or property acquired,
including applicable adjustments and synergies, and not to the acquisition itself) and (ii) any Obligation incurred or assumed by the Company (including the Person or property acquired) in connection with such transaction and any Obligation of
the Person or property acquired which is not retired in connection with such transaction (A) shall be deemed to have been incurred as of the first day of the applicable period and (B) if such Obligation has a floating or formula rate,
shall have an average rate of interest for the applicable period for purposes of this definition. [CA] 
  

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 “Pro-Forma Owner’s Policy” means the Pro-Forma Owner’s Policy in the
form attached hereto as Schedule 3.19. [Schedule Z] 
 “Proceeds” means: (a) all
“proceeds” as defined in Article 9 of the UCC, (b) payments or distributions made with respect to any Investment Related Property and (c) whatever is receivable or received when Collateral or proceeds are sold, exchanged,
collected or otherwise disposed of, whether such disposition is voluntary or involuntary. [ASA] 
 “Production Tax
Credits” or “PTC” means production tax credits under Section 45 of the Internal Revenue Code as in effect from time-to-time during the Term or any successor or other provision providing for a federal tax
credit determined by reference to renewable electric energy produced from geothermal or other renewable energy resources for which the Facility is eligible. [EECA, LLCA] 
 “Project” means, collectively, the design, engineering, drilling, excavating, permitting, procurement, construction, civil works,
installation, integration, commissioning, start-up, testing, completion and any items or matters similar to any of the foregoing, all of which as are necessary and appropriate for the construction, testing and commissioning of the Facility. [CA,
EPC, O&M, Schedule Z] 
 “Project Budget” shall means the amount set forth in Schedule F of the EPC
Agreement. [ASA, CA, EPC, Schedule Z] 
 “Project Costs” means, without duplication all (a) amounts
payable to Contractor under the EPC Agreement; (b) amounts payable under any Owner Construction Agreement; (c) costs related to the Lease Agreements, rights of way and other real estate rights necessary for the Project before
Facility Substantial Completion; (d) insurance costs related to the design, development, construction, start-up, testing and commissioning of the Project; (e) all taxes, assessments or charges payable by the Company under Applicable Law
with respect to the Project; and (f) all fees, commissions and out-of-pocket expenses payable by the Company to all professional advisors, consultants and other experts in relation to the Project and all other costs relating to the design,
development, engineering, procurement, construction, permitting, installation, start-up, testing and commissioning of the Project. [CA, Schedule Z] 
 “Project Design Book” means, collectively, the diagrams, drawings, documents and other information setting forth in detail the comprehensive engineering, construction and technical and
operational specifications for engineering, designing, developing, constructing and operating all Equipment and Materials comprising the Facility on the Facility Site, including as to transmission, wells and Wellfield components, as the same may be
amended, modified, supplemented or restated from time to time in accordance with its terms, which diagrams, drawings, documents and other information are set forth in Schedule H to the EPC Agreement. [EPC, O&M, Schedule Z]

 “Project Objectives” means (i) achieving Turbine Substantial Completion by the December 31, 2008, and
(ii) achieving Facility Substantial Completion and Final Completion by the Guaranteed Final Completion Date, in each case, in accordance with the terms and conditions of the EPC Agreement. [EPC, Schedule Z] 
  

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 “Project Party” means each Person (other than an Agent, a Lender or the Company)
from time to time a party to a Project Document. [CA] 
 “Project Schedule” means the Project Schedule set
forth in Schedule B to the EPC Agreement. [ASA, CA, EPC, O&M, Schedule Z] 
 “Project
Standards” means, with respect to any Work or Services to be performed in accordance with the EPC Agreement or O&M Agreement, as applicable, such Work and Services are performed: (i) in a professional, prudent,
good and workmanlike manner, (ii) only with supplies, materials and equipment that are new (or refurbished but which otherwise comply with Prudent Practices), operating properly and of utility-grade quality, (iii) in accordance
with the Project Design Book, including applicable engineering, environmental, construction, safety, and electrical generation codes and standards as required under or listed in the Project Design Book, (iv) in the best interests of the
Owner (which shall not be construed as creating a fiduciary obligation) (v) with the purpose of successfully achieving the Project Objectives, (vi) in a manner that is approved as to form, use and content by public entities authorized
under Applicable Laws to administer or enforce any building or construction code or standard and whose approval of the final design of the Facility, or any portion thereof, is necessary for the design, engineering and construction and operation of
the Facility in accordance with the Project Standards; and (vii) in compliance with Applicable Laws, Governmental Approvals and Prudent Practices and exercising the professional care and skill to be expected of a qualified contractor
experienced in the engineering, design and construction of facilities of a similar nature, size and complexity of the Facility. [EPC] 
 “Projected DSCR” means, with respect to any Quarterly Transfer Date, the DSCR projected for the four Fiscal Quarter periods beginning on the first day of the Fiscal Quarter in which such Quarterly Transfer Date
occurs. [CA, Schedule Z] 
 “Property” means any interest in any kind of property or asset, whether real,
personal or mixed, or tangible or intangible, including, without limitation, cash, securities, accounts and contract rights. [CA, ECCA, EPC, O&M, Schedule Z] 
 “Prove-Out” means the Availability Prove-Out and the Capacity Prove-Out which are set forth on Schedule D of the EPC Agreement. [EPC, Schedule Z] 
 “Prudent Electric Power Industry Practices” means the practices, methods, techniques and standards that (i) are generally
accepted in the electric power industry in the United States for use in connection with the design, procurement, engineering, construction, testing, operation and maintenance of geothermal power stations of the same or similar size and type as the
Facility all in a manner consistent with Applicable Laws, Governmental Approvals, Prudent Electrical Practices, reliability, safety, environmental protection, economy and expediency and (ii) conform in all material respects to the
manufacturer’s design, engineering, construction, testing, operation and maintenance guidelines applicable to the equipment in question. Prudent Electric Power Industry Practices are not limited to the optimum practice or method to the
exclusion of others, but rather refer to commonly used and reasonable practices and methods. [Schedule Z] 
  

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 “Prudent Electrical Practices” means those practices, methods, standards, and
equipment commonly used, from time to time, in electrical engineering and operations to operate electrical equipment with safety, dependability and efficiency and in accordance with the National Electrical Safety Code, the National Electrical Code
and the standards of the Institute of Electrical and Electronic Engineers, the National Electrical Manufacturers Association, the North American Electric Reliability Council, and the American National Standards Institute and any other applicable
statutes, codes, regulations and/or standards. [Schedule Z] 
 “Prudent Practices” means, collectively,
Prudent Electric Power Industry Practices and Prudent Electrical Practices. [CA, O&M, Schedule Z] 
 “PTC
Period” means the Tax Years during which the Facility generates electrical energy that qualifies for PTC”s under Section 45 of the Code. [LLCA] 
 “PUHCA” means the Public Utility Holding Company Act of 2005, 42 U.S.C. sec. 16451 et seq. (2006) and the regulations
of the FERC thereunder. [ECCA, LLCA] 
 “Punch-List” means the list prepared by Owner and Contractor, which
shall list all items of work that remain to be performed after achieving Facility Substantial Completion in order to ensure that the Facility achieves Final Completion and fully complies with all of the standards and requirements set forth in the
EPC Agreement. The Punch List shall not include any items of work, alone or in the aggregate, the noncompletion of which prevents the Facility from reaching Facility Substantial Completion and being legally, safely and reliably placed in
commercial operation in accordance with Applicable Laws and Governmental Approvals. [EPC] 
 “Purchase Option
Notice” has the meaning set forth in Section 9.7 of the LLC Operating Agreement. [LLCA] 
 “Purchase Price” has the meaning set forth in Section 9.7 of the LLC Operating Agreement. [LLCA] 
 “PURPA” means the Public Utility Regulatory Policies Act of 1978 and all rules and regulations adopted thereunder. [Schedule Z] 
 “Qualifying Facility” or “Qualifying Facilities” means a facility which is a qualifying facility within
the meaning of PURPA and which meets the criteria defined in Title 18, Code of Federal Regulations, Section 292.201 through 292.207. [CA, LLCA] 
 “Quarterly Disbursement Request” means a quarterly disbursement request substantially in the form of Exhibit J of the Account and Security Agreement, duly executed and delivered
by all required signatories thereto. [ASA, CA] 
 “Quarterly Transfer Date” means the last Business Day in
each January, April, July, and October occurring after the Final Completion Date. [ASA, Schedule Z] 
 “Real Estate
Rights” means all rights in or to real estate or sub-surface mineral rights (including title to or other rights to use or access the Facility Site, leases, contracts, permits, 

  

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easements, licenses, and rights of way) required to be obtained or maintained in connection with construction of the Facility on the Facility Site,
performance of the Work, or operation of the Facility (including the transportation of all necessary materials, equipment and other items to the Facility Site, access for the construction, and the startup and testing of the Facility). [EPC]

 “Recalculated Equity Base Case Model” means the Equity Base Case Model, as recalculated in accordance with
Section 6.4 of the EPC Agreement. [EPC, Schedule Z] 
 “Receivables” shall mean, with
respect to the Company, all rights to payment, whether or not earned by performance, for goods or other property sold, leased, licensed, assigned or otherwise disposed of, or services rendered or to be rendered, including, without limitation all
such rights constituting or evidenced by any Account, Chattel Paper, Instrument, General Intangible or Investment Related Property together with all of the Company’s rights, if any, in any goods or other property giving rise to such right to
payment and all Collateral Support and Supporting Obligations related thereto and all Receivables Records. [ASA, CA, Schedule Z] 
 “Receivables Records” shall mean, with respect to the Company, (a) all original copies of all documents, instruments or other writings or electronic records or other records evidencing the Receivables,
(b) all books, correspondence, credit or other files, records, ledger sheets or cards, invoices, and other papers relating to Receivables, including, without limitation, all tapes, cards, computer tapes, computer discs, computer runs, record
keeping systems and other papers and documents relating to the Receivables, whether in the possession or under the control of the Company or any computer bureau or agent from time to time acting for the Company or otherwise, (c) all evidences
of the filing of financing statements and the registration of other instruments in connection therewith, and amendments, supplements or other modifications thereto, notices to other creditors or secured parties, and certificates, acknowledgments, or
other writings, including, without limitation, lien search reports, from filing or other registration officers, (d) all credit information, reports and memoranda relating thereto, and (e) all other written or non-written forms of
information related in any way to the foregoing or any Receivable. [ASA, Schedule Z] 
 “Record” has the
meaning specified in Article 9 of the UCC or any successor provision thereto. [Schedule Z] 
 “Redemption”
means with respect to any Debt, the repurchase, redemption, prepayment, repayment, or defeasance or any other acquisition or retirement for value (or the segregation of funds with respect to any of the foregoing) of such Debt.
“Redeem” has the correlative meaning thereto. [CA] 
 “Redemption Amount” means
(a) aggregate outstanding principal amount of all Advances, plus (b) any interest accrued but unpaid under the Credit Agreement to the date of the prepayment, plus (c) in the case of prepayment under
Section 2.6.2 of the Credit Agreement, the Make-Whole Amount in respect of all Advances not previously prepaid. [CA] 
 “Register” has the meaning specified in Section 16.2.4 of the Credit Agreement. [CA] 
 “Regulated Holder” means any holder of membership interests that is (or that is a subsidiary of a bank holding company that is) subject to the various provisions of Regulation Y 

  

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of the Board of Governors of the Federal Reserve Systems, 12 C.F.R., Part 225 (or any successor to Regulation Y). [LLCA] 
 “Regulatory Problem” means, with respect to the Class A Investors, (i) any set of facts or circumstances wherein it has
been asserted by any Governmental Authority (or the Class A Investors reasonably believe based on advice of their counsel or regulators that there is a reasonable risk of such assertion) that such Person (or any bank holding company or other
regulated bank entity that controls such Person) is not entitled to hold, or exercise any material right with respect to, all or any portion of the membership interests of the Company that such Person holds or (ii) such Person
and its Affiliates does or would own, control or have power (including voting rights) over a greater quantity of membership interests of the Company than is permitted under any law or regulation or any requirement of any Governmental
Authority applicable to such Person or to which such Person is subject. [LLCA] 
 “Reimbursable Costs”
means those costs described as such in Sections 7.1.1.1 and 7.1.1.2 of the O&M Agreement. [ASA, CA, O&M, Schedule Z] 
 “Reinvestment Yield” means, with respect to the Called Principal of any Advance, 50 basis points above the yield to maturity as quoted on the Reference Page of actively traded U.S. Treasury Notes or Bonds three
(3) Business Days before the Settlement Date with a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. [Schedule Z] 
 “Related Fund” means, with respect to any Lender, any fund or entity that (a) invests in securities or bank loans, and (b) is advised or managed by such Lender, the same investment
advisor as such Lender or by an Affiliate of such Lender or such investment advisor. [CA] 
 “Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors (including attorneys, accountants and experts) of such Person and such Person’s Affiliates.
[CA] 
 “Release” means any release, spill, emission, discharge, leaking, pumping, injection, deposit,
disposal, dispersal, leaching or migration into the indoor or outdoor environment (including ambient air, surface water, groundwater and surface or subsurface strata) of Hazardous Materials in, at, on or under the property, including the movement of
Hazardous Materials through or in the air, soil, surface water, groundwater or real property. [CA, EPC, O&M, Schedule Z] 
 “Released Assets” means, as of any date, those parcels or assets permitted to be released as of such date in accordance with Article XI of the Account and Security Agreement. [Schedule Z] 

 “Remaining Average Life” means, with respect to any Called Principal, the number of years (calculated to the
nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to
such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with 

  

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respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. [Schedule Z] 
 “Remaining Scheduled Payments” means, with respect to the Called Principal of any Advance, all payments of such Called Principal
and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date; provided, that if such Settlement Date is not a date on
which interest payments are due to be made under the terms of the Credit Agreement, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be
paid on such Settlement Date pursuant to Section 2.5, 2.6 or Section 8 of the Credit Agreement. [Schedule Z] 
 “Remedial Work” has the meaning specified in Section 5.15.1 of the Credit Agreement. [CA] 
 “Replacement Lender” has the meaning specified in Section 2.12.3 of the Credit Agreement. [CA] 
 “Reports” means, collectively, the Independent Engineer’s Report and the Insurance Consultant’s Report. [ECCA,
Schedule Z] 
 “Representatives” means, with respect to any Person, the managing member(s), the officers,
directors, employees, representatives or agents (including investment bankers, financial advisors, attorneys, accountants, brokers and other advisors) of such Person, to the extent that such officer, director, employee, representative or agent of
such Person is acting in his or her capacity as an officer, director, employee, representative or agent of such Person. [LLCA] 
 “Required Lenders” means, at any time, the Lenders comprising at least 51% of the Commitments (exclusive of Commitments held by the Company or any of its Affiliates) or, if the Commitments have terminated, Lenders
comprising at least 51% of the outstanding principal amount of the Advances. [ASA, CA, Schedule Z] 
 “Required Turbine
Substantial Completion Date” means December 31, 2008 or such other date permitted by Applicable Law by which the Turbines may still qualify as Placed in Service. [EPC, Schedule Z] 
 “Requisite Expert Consultation” means, with respect to any matter, such Consultation (which may be oral or in writing) with the
Independent Engineer, the Insurance Consultant, or such other expert advisors as may be engaged in connection with such matter as the Administrative Agent or the Administrative Lender shall reasonably deem appropriate under the particular
circumstances. In the event that the Administrative Lender shall reasonably require a written report of the Independent Engineer, the Insurance Consultant, the Geothermal Engineer or any such other expert advisor with respect to any matter that
requires a determination, consent or approval of the Administrative Lender shall not make such determination or delivery such consent or approval until such report or reports have been delivered and approved by the Administrative Lender. [CA]

  

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 “Resource Period” means the period commencing on the Effective Date and ending on
the 20th anniversary thereof. [Schedule Z] 
 “Resource Support Parcels” has the meaning set forth in
Article XI of the Account and Security Agreement. [ASA] 
 “Responsible Officer” means as to any
Person, the Chief Executive Officer, the President, any Financial Officer or any Vice President of such Person. Unless otherwise specified, all references to a Responsible Officer in the Credit Agreement shall mean a Responsible Officer of
the Company. [CA, Schedule Z] 
 “Restoration Plan” has the meaning specified in
Section 2.6.1.2(5) of the Credit Agreement. [CA] 
 “Restoration Work” means any repair or
restoration (including, but not limited to, designing, engineering, constructing and completing such repair or restoration) of affected Property following any Casualty Event. [CA, ASA] 
 “Restore” has the meaning specified in Section 2.6.1.2(3) of the Credit Agreement. [CA] 
 “Restricted Payment” means (a) any dividend or other distribution (whether in cash, securities or other Property) with
respect to any Equity Interests in the Company, or any payment (whether in cash, securities or other Property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any such Equity Interests in the Company or any option, warrant or other right to acquire any such Equity Interests in the Company, or (b) any payment of a development, management, advisory consulting or similar fee, or the
payment of any expenses or other amounts of or to, the Company or its Affiliates other than fees payable under the O&M Agreement. [CA] 
 “Revenue Account” means the Revenue Account set forth in Section 2.1.1 of the Account and Security Agreement. [ASA, CA] 
 “Sales Tax” means all sales and use taxes that are properly payable by Contractor in connection with the Work. [EPC]

 “SEC” means the United States Securities and Exchange Commission and any successor thereto. [ASA]

 “Second Funding Date” means the earlier of: (i) the date upon which the balance of funds in the Construction
Account is less than $1 million and all Advances under the Credit Agreement have been drawn, (ii) the date upon which a EPC Funding Request has been made and Advances under the Credit Agreement are insufficient to satisfy the amount stated
therein, (iii) the Facility Substantial Completion Date, (iv) December 15, 2008 and (v) the date upon which a Credit Agreement Event of Default occurs. [ECCA, LLCA, Schedule Z]  
  

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 “Second Funding Date Capital Contributions” means the capital contributions by
the Class A Investors on the Second Funding Date, as determined in accordance with Section 2.2 of the Equity Capital Contribution Agreement. [ASA] 
 “Secured Obligations” has the meaning assigned in Section 5.1 of the Account and Security Agreement.
[ASA] 
 “Secured Parties” means the Agents, the Security Agent, the Account Bank, the Securities Intermediary
and the Lenders and shall include, without limitation, all former Agents and Lenders to the extent that any Obligations owing to such Persons were incurred while such Persons were Agents and Lenders and such Obligations have not been paid or
satisfied in full. [ASA, LLCA]  
 “Securities Accounts” (i) means all “securities accounts” as
defined in Article 9 of the UCC and (ii) includes, without limitation, all of the accounts listed on Schedule 6.4 of the Account and Security Agreement under the heading “Securities Accounts” (as such schedule may be
amended or supplemented from time to time). [ASA, Schedule Z] 
 “Securities Act” means the Securities Act of
1933, as amended from time to time. [ASA, ECCA] 
 “Security Accounts” has the meaning assigned in
Section 2.1.1 of the Account and Security Agreement. [ASA] 
 “Security Instruments” means,
collectively, (a) the Account and Security Agreement, (b) the Class A Investors Pledge Agreement and Class B Investors Pledge Agreement, (c) the Leasehold Mortgage(s), (d) the UCC-1 financing statements required to be
filed under the terms of any of the foregoing documents, (e) each other collateral, account control agreement, pledge, security, mortgage, deed of trust, assignment of leasehold mortgage or guaranty agreement and any and all other agreements,
instruments, consents or certificates now or hereafter executed and delivered by the Company or any other Person (other than participation or similar agreements between any Lender and any other lender or creditor with respect to any Obligation
pursuant to the Credit Agreement) as security for the payment or performance of the Obligations or the Credit Agreement, as such agreements may be amended, modified, supplemented or restated from time to time. [CA, ECCA, Schedule
Z] 
 “Services” means all engineering, design, drilling, Wellfield development, excavating, installation, civil
works, procurement, construction, permitting, management, manufacturing and administrative services and any other services similar to the foregoing, which is or may be necessary or appropriate for the design, engineering, construction, development,
operation and maintenance, as applicable, of a geothermal power plant facility and all components relating thereto, including as to procurement of geothermal resources and transmission of electric energy generated thereby, of a similar nature, size
and complexity as the Facility, in each case, based on the technical specifications and requirements set forth in the Project Design Book. [EPC, Schedule Z] 
 “Settlement Date” means with respect to the Called Principal of any Obligation, the date on which such Called Principal is to be prepaid pursuant to Section 2.5 or
Section 2.6 of the 

  

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Credit Agreement or has become or is declared to be immediately due and payable pursuant to Section 8 of the Credit Agreement, as
the context requires. [Schedule Z] 
 “Special Project Document Payments” means payments due with respect to
any Borrower Indemnification Event(s). [ASA] 
 “Subcontract” means any contract for the provision or
performance of any part of the Work or the supply of any supplies, equipment, materials or other components in connection with the EPC Assets, other than the EPC Agreement. [EPC, O&M, Schedule Z] 
 “Subcontractor” means each counterparty to a Subcontract other than the Contractor. [EPC, O&M, Schedule Z] 

“Subject” has the meaning specified in Section 7.6 of the Credit Agreement. [CA] 
 “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of
which a majority of the outstanding Equity Interests is at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. [Schedule Z]

 “Support” means the provision of labor, utilities, machinery, tools, equipment, materials, supplies,
transportation, shipping, freighting, storage, waste disposal or any other support similar to the foregoing, whether temporary or permanent and including facilities relating thereto, which is or may be necessary or appropriate for the design,
engineering, construction, development, operation and maintenance, as applicable, of a geothermal power plant facility and all components relating thereto, including as to procurement of geothermal resources and transmission of electric energy
generated thereby, of a similar nature, size and complexity as the Facility, in each case, based on the technical specifications and requirements set forth in the Project Design Book. [EPC, O&M, Schedule Z] 
 “Supporting Obligation” means all “supporting obligations” as defined in Article 9 of the UCC. [ASA, Schedule Z]

 “Synthetic Leases” means, in respect of any Person, all leases which shall have been, or should have been, in
accordance with GAAP, treated as operating leases on the financial statements of the Person liable (whether contingently or otherwise) for the payment of rent thereunder and which were properly treated as indebtedness for borrowed money for purposes
of U.S. federal income taxes, if the lessee in respect thereof is obligated to either purchase for an amount in excess of, or pay upon early termination an amount in excess of, 80% of the residual value of the Property subject to such operating
lease upon expiration or early termination of such lease. [Schedule Z] 
 “Target Availability Rating” means
net electrical output from the Facility during full operation equaling at least 92% of the Target Capacity Rating, as demonstrated pursuant to the Availability Prove-Out. [EPC, Schedule Z] 
  

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 “Target Capacity Rating” means a net electrical output of the Facility during
full operation equaling at least 10.35 MW, as demonstrated pursuant to the Capacity Prove-Out. [ECCA, EPC, Schedule Z] 
 “Target Debt Investment” means $31,175,092, as indicated in the Original Equity Base Case Model. [Schedule Z] 
 “Target Economics” means, with respect to the Equity Base Case Model, the intent of the Parties to the Financing Documents and the Tax Equity Documents to achieve the following objectives:
(i) that the Flip Date occur on the Target Flip Date, (ii) that the Class A Investors receive the After-Tax Payout, and (iii) that the DSCR equal Target DSCR. [EPC, Schedule Z]  
 “Target Equity Investment” means $24,500,000, as indicated in the Original Equity Base Case Model. [Schedule Z]

 “Target Facility Characteristics” means the following characteristics to be achieved by the Facility upon Facility
Substantial Completion: (i) the Target Capacity Rating, (ii) the Target Availability Rating, and (iii) the Target Turbine Substantial Completion Quantity. [EPC, Schedule Z] 
 “Target Flip Date” means December 31, 2018. [Schedule Z]  
 “Target Turbine Substantial Completion Quantity” means 50. [EPC, Schedule Z] 
 “Target DSCR” means a DSCR of 1.5:1.0. [LLCA, Schedule Z] 
 “Target IRR” means an Internal Rate of Return of fifteen percent (15%). [ECCA, LLCA] 
 “Target Pre-Tax Return” has the meaning set forth in Section 2.3(c) of the Equity Capital Contribution
Agreement. [ECCA, LLCA] 
 “Tax Matters Member” means the Member that is designated as the “tax
matters partner” as defined in Section 6231 of the Code. [ECCA] 
 “Tax Matters Partner” has the
meaning set forth in Section 7.10(a) of the LLC Operating Agreement. [LLCA] 
 “Tax
Returns” means any return, report, statement, information return or other document (including any amendments thereto and any related or supporting information) filed or required to be filed with any Governmental Authority in connection
with the determination, assessment, collection or administration of any taxes or the administration of any laws, regulations or administrative requirements relating to any taxes, including after the Closing any IRS Form K-1 issued to Members by
the Company, information return, claim for refund, amended return or declaration of estimated tax. [ECCA, LLCA] 
 “Taxes” means all taxes, charges, fees and levies imposed under Applicable Law by any Governmental Authority, including any gross or net income, gross receipts, capital gains, 

  

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franchise, premium, retaliatory or reciprocal, profits, sales, use, value-added, transfer, employment or payroll, ad valorem, environmental, excise, license,
occupation, real or personal property, intangible property, minimum, alternative minimum, severance, stamp, withholding, or windfall profits tax, guaranty fund assessments, custom duty or other charge, fee or tax, together with any interest, charge,
penalty, addition to tax or additional amount related thereto. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z]  
 “Tax
Year” means the calendar year or such other year the Company is required by Section 706 of the Code to use as its tax year. [LLCA] 
 “Term” means the period from the Closing Date through the Termination Date. [LLCA, Schedule Z] 
 “Termination Date” has the meaning set forth in Section 2.4 of the LLC Operating Agreement. [ASA, LLCA, Schedule Z] 
 “Termination Payment Date” has the meaning set forth in Section 13.2.6.1 of the EPC Agreement. [EPC]

 “Third Party Claims” means, with respect to any Agreement, any claim, action, cause of action or suit,
litigation, controversy, assessment, arbitration, investigation, inquiry, hearing, charge, complaint, demand, notice or proceeding initiated by any Person other than a Party to such Agreement by or before any Governmental Authority. [EPC, ECCA,
O&M] 
 “Three-Month LIBOR” shall have the meaning specified in Exhibit D of the LLC Operating
Agreement. [LLCA] 
 “Total Loss” has the meaning specified in Section 2.6.1.2(2) of the Credit
Agreement. [CA] 
 “Trade Secret Licenses” means any and all payments providing for the granting of any
right in or to Trade Secrets (whether the Company is licensee or licensor thereunder) including, without limitation, each agreement referred to in Schedule 6.6(G) of the Account and Security Agreement (as amended or supplemented from
time to time). [ASA] 
 “Trade Secrets” means, with respect to the Company, all trade secrets and all other
confidential or proprietary information and know-how now or hereafter owned or used in, or contemplated at any time for use in, the business of the Company (all of the foregoing being collectively called a “Trade Secret”), whether or not
such Trade Secret has been reduced to a writing or other tangible form, including all documents and things embodying, incorporating, or referring in any way to such Trade Secret, the right to sue for past, present and future infringement of any
Trade Secret, and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit. [Schedule Z] 
 “Trademark Licenses” means any and all agreements providing for the granting of any right in or to Trademarks (whether the
Company is licensee or licensor thereunder) including, 

  

 - 55 - 

 
without limitation, each agreement referred to in Schedule 6.6(F) of the Account and Security Agreement (as amended or supplemented from time
to time). [ASA, Schedule Z] 
 “Trademarks” means all United States, state and foreign trademarks, trade
names, corporate names, company names, business names, fictitious business names, internet domain names, trade styles, service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles
of a like nature, all registrations and applications for any of the foregoing including, but not limited to the registrations and applications referred to in Schedule 6.6(E) of the Account and Security Agreement (as amended or
supplemented from time to time), all extensions or renewals of any of the foregoing, all of the goodwill of the business connected with the use of and symbolized by the foregoing, the right to sue for past, present and future infringement or
dilution of any of the foregoing or for any injury to goodwill, and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit. [ASA, Schedule Z] 
 “Transaction Expenses” means (i) the reasonable legal fees, expenses and disbursements of the Lenders, the Company and IRP
incurred in connection with the Equity Capital Contribution Agreement and the transactions contemplated hereby; (ii) other reasonable, documented out of pocket expenses of the Company and IRP incurred in connection with the Equity
Capital Contribution Agreement and the transactions contemplated hereby; (iii) intentionally omitted; (v) the reasonable fees, out-of-pocket costs and expenses of the Class A Investors (including reimbursement of any such amounts
previously paid) incurred in connection with the Equity Capital Contribution Agreement and the transactions contemplated hereby, including the reasonable fees and expenses of counsel and consultants to the Class A Investors; and
(vi) the reasonable fees and out of pocket expenses of the Independent Engineer, the Geothermal Engineer and the Insurance Consultant incurred in connection with the preparation of the Reports. [ECCA]  
 “Transactions” means, with respect to the Company, the execution, delivery and performance by the Company of each Transaction
Document to which it is a Party, the use of the proceeds thereof and otherwise the consummation of the transactions contemplated thereby, and the granting by the Company of any Liens pursuant to the provisions of the Security Instruments. [CA,
ECCA, O&M, Schedule Z] 
 “Transfer” has the meaning set forth in Section 9.1 of the LLC
Operating Agreement. [LLCA]  
 “Transfer Taxes” has the meaning set forth in Section 6.2 of
the Equity Capital Contribution Agreement. [ECCA] 
 “Transmission Line” has the meaning specified in
Article XI of the Account and Security Agreement. [ASA] 
 “Treasury Regulations” means
regulations written by the IRS interpreting the Code. [LLCA]  
  

 - 56 - 

 “Turbine” means each
PureCycle© 225 System geothermal heat-to-electricity power system turbine generator contemplated to be sold to the Company pursuant to the UTC Purchase Contract. [ECCA, EPC, LLCA]

 “Turbine Substantial Completion” has the meaning set forth in Section 6.1.1 of the EPC
Agreement. [EPC] 
 “Turnover Package” means the documentation (including the Project Design Book,
start-up procedures, log sheets, settings, and other items) in content, form and substance reasonably acceptable to Owner, submitted by Contractor to Owner that demonstrates that the Project has met Facility Substantial Completion in accordance with
the EPC Agreement and may be operated safely in accordance with the O&M Manual and for its intended purposes. [EPC] 
 “UCC” means the Uniform Commercial Code in effect from time to time in the State of New York or, when the context requires, the Uniform Commercial Code as en effect from time to time in any other applicable
jurisdiction. [ASA, CA, LLCA, Schedule Z] 
 “Underrun Bonus” has the meaning set forth in
Section 5.7 of the EPC Agreement. [ASA, EPC] 
 “Unrelated Persons” means a Person that is
not “related,” within the meaning of Section 45(e)(4) of Code, to any Person to whom the Company sells electricity during the period the Company is entitled to Production Tax Credits on such electricity. 
 “USA Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. [ASA, CA] 
 “Warranty” has the meaning set forth in Section 9.1 of the EPC Agreement. [EPC] 
 “Warranty Claim” has the meaning set forth in Section 9.3 of the EPC Agreement. [EPC] 
 “Warranty Period” has the meaning set forth in Section 9.2 of the EPC Agreement. [EPC] 
 “Wellfield” means the array of extraction and injection wells, together with interconnected piping and related materials,
providing geothermal resources to the Facility. [Schedule Z] 
 “Wellfield Plan and Budget” means, with
respect to the applicable Operating Year, an annual operating budget and capital budget, broken down on a monthly basis, setting forth in detail the following matters with respect to the wells and Wellfield: (A) anticipated operations
(including the drilling of new wells), (B) routine maintenance on existing wells (including major maintenance), (C) procurement (including equipment acquisitions and spare parts indicating a breakdown of capital items and expense items),
(D) staffing, personnel and labor activities 

  

 - 57 - 

 
(including unit rates for labor, hourly rates for consultants who are not employees of the Operator or its Affiliates, and holidays to be observed),
(E) administrative activities, and (F) data regarding other work proposed to be undertaken by Operator, together with an itemized estimate, in detail reasonably acceptable to Owner, of all Reimbursable Costs to be incurred in connection
therewith, together an annual operating plan setting forth underlying assumptions and implementation plans. [O&M] 
 “Work” has the meaning set forth in Section 2.2 of the EPC Agreement. [EPC, LLCA, O&M, Schedule Z] 
 “Working Capital Loan” has the meaning set forth in Section 4.5 of the LLC Operating Agreement. 
  

 - 58 - 

 PARTIES 
 “Account Bank” means Deutsche Bank Trust Company Americas and its permitted successors and assigns. [ASA, Schedule Z] 
 “Administrative Agent” means Deutsche Bank Trust Company Americas, together with its successors and assigns to the extent
permitted by the Credit Agreement. [CA, ASA, ECCA, O&M, Schedule Z] 
 “Administrative Lender”
means Merrill Lynch Credit Products, LLC or any successor as may be appointed in accordance with Section 15.8 of the Credit Agreement provided that in no event shall there be more than one Administrative Lender at any given time.
[ASA, CA, O&M, EPC, Schedule Z] 
 “Anaheim” means the City of Anaheim, California, a municipal
corporation organized and existing under the laws of the State of California. [CA, Schedule Z] 
 “Class A
Investors” means one or more Members holding one or more Class A Interests. Initially the Class A Investors will be MLE. [CA, ASA, LLCA, Schedule Z] 
 “Class B Investors” means one or more Members holding one or more Class B Interests. Initially the Class B Investors
will be IRP. [ASA, CA, ECCA, LLCA, Schedule Z] 
 “Class C Investor” means a Member holding one or more
Class C Interests. [LLCA] 
 “Collateral Agent” means Deutsche Bank Trust Company Americas, together with
its successors and assigns to the extent permitted by the Account and Security Agreement. [ASA, CA, ECCA, Schedule Z] 
 “Company” means Thermo No. 1 BE-01, LLC, a Delaware limited liability company, together with its successors and assigns. [ASA, CA, ECCA, LLCA, Schedule Z] 
 “Contractor” means Raser Technologies, Inc., a Delaware corporation, together with its successors and assigns. [ASA, CA, ECCA,
EPC, LLCA, O&M, Schedule Z] 
 “Financing Parties” means, collectively, the Lenders, the Administrative Agent
and the Collateral Agent under the Financing Documents. 
 “GE” means GE Consumer & Industrial,
together with its successors and assigns. [Schedule Z] 
 “Geothermal Engineer” means, initially, GeothermEx,
or, if no longer GeothermEx, such geothermal engineers as may be selected by the Class A Investors from time to time, subject to the prior written consent of the Company, so long as the Company is not subject to a Credit Agreement Event
of Default, and the Administrative Lender, such consent not to be unreasonably withheld, conditioned or delayed, in each case, as the geothermal engineer for the Project and any successors and assigns thereto. [ASA, CA, ECCA, EPC, LLCA, O&M,
Schedule Z]  
  

 - 59 - 

 “Goulds” means ITT Corporation, an Indiana Corporation, together with its
successors and assigns. [Schedule Z] 
 “Independent Engineer” means initially, R.W. Beck, or, if no longer R.
W. Beck, such independent engineers as may be selected by the Class A Investors from time to time, subject to the prior written consent of the Company , so long as the Company is not subject to a Credit Agreement Event of Default, and the
Administrative Lender, such consent not to be unreasonably withheld, conditioned or delayed, in each case, as the independent engineer for the Project and any successors and assigns thereto. [ASA, CA, EPC, O&M, Schedule Z] 
 “Insurance Consultant” means Moore-McNeill, LLC, or, if no longer Moore-McNeill, LLC, such insurance consultant as may be
selected by the Class A Investors from time to time, subject to the prior written consent of the Company, so long as the Company is not subject to a Credit Agreement Event of Default, and the Administrative Lender, such consent not to be
unreasonably withheld, conditioned or delayed, in each case, as the insurance consultant for the Project and any successors and assigns thereto. [CA, ECCA, Schedule Z] 
 “Interconnection Construction Provider” means Pine Valley, together with its successors and assigns. [Schedule Z]

 “Interconnection Service Provider” means PacifiCorp, together with its successors and assigns. [EPC, Schedule
Z] 
 “IRP” means Intermountain Renewable Power, LLC, a Delaware limited liability company, together with its
successors and assigns. [ECCA, LLCA] 
 “Managing Member” has the meaning set forth in Section 8.1
of the LLC Operating Agreement. [LLCA, Schedule Z] 
 “Member(s)” means any Person who owns an equity
interest in the Company. [ECCA, LLCA] 
 “Minersville” means Minersville Land and Livestock Company, together
with its successors and assigns. [Schedule Z] 
 “MLE” means Merrill Lynch L.P. Holdings Inc., a Delaware
Corporation, together with its successors and assigns. [ECCA, LLCA, Schedule Z] 
 “Operator” means the
operator of the Facility and a party to the O&M Agreement, or any successor thereto. [ECCA, LLCA, O&M, Schedule Z] 
 “Owner” means Thermo No. 1 BE-01, LLC, a Delaware limited liability company, together with its successors and assigns. [ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Parent” means, if applicable to a Member, the Person or Persons that directly control such Member. [ECCA, Schedule Z]

  

 - 60 - 

 “Patterson” means Patterson-UTI Drilling Company, LP, LLP, together with its
successors and assigns. [Schedule Z] 
 “PBGC” means the Pension Benefit Guaranty Corporation, together with
its successors and assigns. [CA, Schedule Z] 
 “Pine Valley” means Pine Valley Power, Inc., a Utah
corporation, together with its successors and assigns. [Schedule Z] 
 “Raser” means Raser Technologies, Inc.,
a Delaware corporation, together with its successors and assigns. [CA, ECCA, EPC, LLCA, Schedule Z] 
 “Raser
Entities” means Owner, Raser, Raser Power and IRP. [CA]  
 “Raser Power” means Raser Power
Systems, LLC, a Delaware limited liability company, together with its successors and assigns. [Schedule Z] 
 “Securities
Intermediary” means Deutsche Bank Trust Company Americas, in its capacity as securities intermediary with respect to the Security Accounts and within the meaning of Article 8 of the UCC. [ASA, Schedule Z] 
 “Security Agent” means Deutsche Bank Trust Company Americas. 
 “SITLA” means the State of Utah, acting by and through the School and Institutional Trust Lands Administration. [Schedule
Z] 
 “SPX” means SPX Cooling Technologies, Inc, a Delaware corporation, together with its successors and
assigns. [Schedule Z] 
 “UTC” means UTC Power Corporation, together with its successors and assigns. [ASA,
ECCA, EPC, O&M, Schedule Z] 
  

 - 61 - 

 DOCUMENTS 
 “Account and Security Agreement” means the Account and Security Agreement, dated as of the Closing Date, entered into by and between Owner and the Collateral Agent, as the same may be
amended, modified, supplemented or restated from time to time in accordance with its terms. [ASA, CA, ECCA, EPC, LLCA] 
 “Ancillary Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

 “Assignment and Acceptance” means an assignment and acceptance entered into by a Lender and an Eligible Assignee
(with the consent of any party whose consent is required by Section 16.2 of the Credit Agreement or by the definition of “Eligible Assignee”), and accepted by the Administrative Agent, in accordance with
Section 16.2 of the Credit Agreement and in substantially the form of Exhibit 16 to the Credit Agreement or any other form approved by the Administrative Agent. [CA] 
 “Assignment of SITLA Lease” means the Partial Assignment of State Lands Lease, dated as of August 27, 2008, entered into by
and between IRP and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Class A Consent” means the Consent and Agreement, dated as of the Effective Date, by and between MLE and the Administrative Agent. 
 “Class A Investors Pledge Agreement” means the Pledge and Security Agreement, dated as of the Effective Date, by and between the Class A Investors and the Collateral Agent.

 “Class B Consent” means the Consent and Agreement, dated as of the Effective Date, by and between IRP and the
Administrative Agent. 
 “Class B Guaranty” means that certain guaranty issued by Raser dated as of the
Effective Date of the Equity Capital Contribution Agreement. 
 “Class B Guarantor Consent” means the
Consent and Agreement, dated as of the Effective Date, by and between Raser, and the Administrative Agent. 
 “Class B
Investors Pledge Agreement” means the Pledge and Security Agreement, dated as of the Effective Date, by and between each of the Class B Investors and the Collateral Agent. 
 “Condensing Water Pump Contract” means the Purchase Order for an ITT Goulds Model #3180XL, amongst other items, dated as of
March 20, 2008, entered into by and between Goulds and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Conditional Lien Waiver” means the Conditional Lien Waiver substantially in the form attached to the EPC Agreement as
Exhibit A-2. 
  

 - 62 - 

 “Construction Disbursement Request” means the EPC Payment Request. 
 “Construction Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached
hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Cooling Tower Purchase
Contract” means the Purchase Order, dated as of March 20, 2008, entered into by and between SPX and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 

“Credit Agreement” means the Credit Agreement, dated as of the Closing Date, entered into by and between Owner, the
Lenders and the Administrative Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Development Account Release Certificate” means a certificate substantially in the form of Exhibit K of the Account and Security Agreement, duly executed and delivered by all
required signatories thereto. 
 “Drilling Contract” means the Drilling Bid Proposal and Daywork Drilling Contract
– U.S., dated as of April 8, 2008, entered into by and between Patterson and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Drilling Escrow Certificate” means the Drilling Escrow Certificate substantially in the form attached to the Equity Capital
Contribution Agreement as Exhibit B. 
 “Drilling Plan and Budget” means the Drilling Plan and Budget
described in Section 4.3 of the Equity Capital Contribution Agreement. 
 “Drilling Reserve Disbursement
Request” means a Drilling Reserve Disbursement Request substantially in the form of Exhibit H of the Account and Security Agreement, duly executed and delivered by all required signatories thereto. 
 “EPC Agreement” means the Engineering, Procurement and Construction Agreement by and between Contractor and Owner, dated as of
the Closing Date, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “EPC Funding Request” means the EPC Funding Request substantially in the form attached to the EPC Agreement as Exhibit H, duly executed and delivered by the signatories thereto. 
 “EPC Payment Request” means the EPC Payment Request substantially in the form attached to the EPC Agreement as Exhibit
I, duly executed and delivered by the signatories thereto. 
 “Equity Commitment Letters” means that certain
letter agreement dated January 16, 2008 by and between Merrill, Lynch, Pierce, Fenner and Smith, Inc. and Raser. 
  

 - 63 - 

 “Equity Capital Contribution Agreement” means the Equity Capital Contribution
Agreement, dated as of the Closing Date, entered into by and among Owner, the Class A Investors and the Class B Investors, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms.
 
 “Final Lien Release” means the Final Lien Release substantially in the form attached to the EPC
Agreement as Exhibit A-3. 
 “Financing Documents” means those agreements, instruments or other documents
identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Forbearance Agreement” means an agreement among the Administrative Agent, the Company and the Class A Investors in which the Administrative Agent, on behalf of the Lenders, agrees to, among other things,
forbear from foreclosing on the Class A Interests before the end of the PTC Period. 
 “Independent Engineer Funding
Certificate” means the Independent Engineering Funding Certificate substantially in the form attached to the EPC Agreement as Exhibit J, duly executed and delivered by the signatories thereto. 
 “Independent Engineer Payment Certificate” means the Independent Engineering Payment Certificate substantially in the form
attached to the EPC Agreement as Exhibit K, duly executed and delivered by the signatories thereto. 
 “Interconnection Agreement” means the Interconnection Agreement, dated as of June 17, 2008, entered into by and between PacifiCorp and IRP, as the same may be amended, modified, supplemented or restated from
time to time in accordance with its terms. 
 “Leasehold Mortgage” means the Leasehold Deed of Trust, Security
Agreement, Financing Statement, Fixture Filing and Assignment of Production, dated as of August 31, 2008, entered into by the Owner in favor of the Collateral Agent, as the same may be amended, modified, supplemented or restated from time to
time in accordance with its terms. 
 “Letter Agreement concerning Deposits” means the Letter Agreement, dated as of
August 31, 2008, entered into by and between Contractor and UTC, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Lien Release” means the Lien Release substantially in the form attached to the EPC Agreement as Exhibit A-1.

 “LLC Operating Agreement” means the LLC Operating Agreement, dated as of September 1, 2006, entered into by
Owner, as sole member, as amended by the Amended and Restated Limited Liability Company Agreement, dated as of August 31, 2008, entered into by and between Owner and the Class A Investors, as the same may be amended, modified, supplemented
or restated from time to time in accordance with its terms. 
  

 - 64 - 

 “Maintenance Documents” means those agreements, instruments or other documents
identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Minersville Lease” means the Geothermal Resources Lease, dated as of September 25, 2007, entered into by and between Minersville and IRP, as the same may be amended, modified, supplemented or restated from time
to time in accordance with its terms. 
 “O&M Agreement” means the Operation and Maintenance Agreement, dated as
of August 31, 2008, entered into by and between Raser Power and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. [CA, LLCA] 
 “O&M Funding Request” means the O&M Funding Request substantially in the form attached to the O&M Agreement as
Exhibit B. 
 “O&M Payment Request” means the O&M Payment Request substantially in the form attached
to the O&M Agreement as Exhibit C, duly executed and delivered by the signatories thereto. 
 “Off-Take
Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Operative Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached
hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Original Operating
Agreement” has the meaning set forth in the preliminary statements of the LLC Operating Agreement.  
 “Power Purchase Agreement” means the Renewable Power Purchase and Sale Agreement, dated as of March 10, 2008, entered into by and between Anaheim and Owner, as the same may be amended, modified, supplemented or
restated from time to time in accordance with its terms. 
 “Powerhouse Contract” means the Purchase Order for a
custom powerhouse, amongst other items, dated as of March 20, 2008, entered into by and between GE and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “PPA Consent” means the Collateral Assignment Agreement, dated as of August 31, 2008, entered into by and between Anaheim,
the Collateral Agent and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Project Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

  

 - 65 - 

 “Raser Consent” means the Consent and Agreement, dated as of August 31,
2008, entered into by and between Contractor, Owner and the Collateral Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Raser Power Consent” means the Consent and Agreement, dated as of August 31, 2008, entered into by and between Raser Power,
the Collateral Agent and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Schedule Z Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

 “Site Documents” means those agreements, instruments or other documents identified as such on Exhibit A
attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “SITLA Consent”
means the Certificate, Consent and Agreement, dated as of August 31, 2008, entered into by and between SITLA and the Collateral Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with its
terms. [Schedule Z] 
 “SITLA Lease” means the Utah State Mineral Lease Form – Geothermal Energy Lease,
dated as of July 1, 2007, entered into by and between SITLA and IRP, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. [Schedule Z] 
 “Switchboard Contract” means the Purchase Order for a transformer switchboard, dated as of March 20, 2008, entered into by
and between GE and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Tax Equity Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

 “Transaction Documents” means those agreements, instruments or other documents identified as such on Exhibit
A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Transformer
Contract” means the Purchase Order for GE Prolec 2000 KVA substation transformers, dated as of March 20, 2008, entered into by and between GE and Owner, as the same may be amended, modified, supplemented or restated from time to
time in accordance with its terms. 
 “Transmission Construction Agreement” means the Engineering, Procurement and
Construction Contract, dated as of April 7, 2008, entered into by and between Pine Valley and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
  

 - 66 - 

 “UTC Consent” means the Consent and Agreement, dated as of August 31, 2008,
entered into by and between UTC, the Collateral Agent and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “UTC Intercreditor Agreement” means the Intercreditor Agreement, dated as of August 31, 2008, entered into by and between
the Administrative Agent, on behalf of the Lenders, Owner and UTC, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “UTC Purchase Contract” means the Purchase Contract, dated as of August 31, 2008, entered into by and between Owner and UTC,
as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. [EPC, ASA] 
 “UTC Services Agreement” means the Amended and Restated Services Agreement, dated as of August 31, 2008, entered into by and between UTC and Owner, as the same may be amended, modified, supplemented or restated
from time to time in accordance with its terms. [O&M] 
 “UTC Step-In Agreement” means the side letter
between Owner and UTC, dated August 31, 2008. [EPC] 
  

 - 67 -Credit Agreement Dated as of August 31, 2008

 Exhibit 10.5 
 EXECUTION VERSION 
  
  
 CREDIT AGREEMENT 
 AMONG 
 Thermo No. 1 BE-01, LLC 
 AS COMPANY, 
 The Lenders, 
 AND 
 Deutsche Bank
Trust Company Americas 
 AS ADMINISTRATIVE AGENT AND COLLATERAL
AGENT 
  
  
 Dated as of 
 August 31, 2008 

Credit Agreement 

 TABLE OF CONTENTS 
  

									
	 	 	 	 	 	 	 	  	Page
			
	ARTICLE I.	 	DEFINITIONS AND CONSTRUCTION	  	1
					
		 	SECTION 1.1.	 		 	DEFINITIONS	  	1
		 	SECTION 1.2.	 		 	OTHER INTERPRETIVE PROVISIONS	  	1
		 	SECTION 1.3.	 		 	ACCOUNTING TERMS	  	2
			
	ARTICLE II.	 	AMOUNTS AND TERMS OF TERM LOAN ADVANCES	  	3
					
		 	SECTION 2.1.	 		 	THE ADVANCES	  	3
		 	SECTION 2.2.	 		 	MAKING THE ADVANCES	  	3
		 	SECTION 2.3.	 		 	REPAYMENT OF ADVANCES	  	4
		 	SECTION 2.4.	 		 	TERMINATION OR REDUCTION OF THE COMMITMENTS	  	5
		 	SECTION 2.5.	 		 	OPTIONAL PREPAYMENT	  	5
		 	SECTION 2.6.	 		 	MANDATORY PREPAYMENTS	  	5
		 	SECTION 2.7.	 		 	INDEMNITY FOR RETURNED PAYMENTS	  	11
		 	SECTION 2.8.	 		 	INTEREST	  	11
		 	SECTION 2.9.	 		 	DEFAULT INTEREST	  	11
		 	SECTION 2.10.	 		 	FEES	  	11
		 	SECTION 2.11.	 		 	PAYMENTS AND COMPUTATIONS	  	12
		 	SECTION 2.12.	 		 	INCREASED COSTS, ETC	  	13
		 	SECTION 2.13.	 		 	TAXES	  	15
		 	SECTION 2.14.	 		 	SHARING OF PAYMENTS, ETC	  	16
		 	SECTION 2.15.	 		 	EVIDENCE OF DEBT	  	17
			
	ARTICLE III.	 	CONDITIONS TO CLOSING	  	18
					
		 	SECTION 3.1.	 		 	CONDITIONS TO CLOSING AND FIRST ADVANCE	  	18
		 	SECTION 3.2.	 		 	CONDITIONS TO ALL ADVANCES	  	21
			
	ARTICLE IV.	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	23
					
		 	SECTION 4.1.	 		 	ORGANIZATION; POWERS	  	23
		 	SECTION 4.2.	 		 	AUTHORITY; ENFORCEABILITY	  	23
		 	SECTION 4.3.	 		 	APPROVALS; NO CONFLICTS	  	23
		 	SECTION 4.4.	 		 	FINANCIAL CONDITION; NO MATERIAL ADVERSE EFFECT	  	24
		 	SECTION 4.5.	 		 	LITIGATION AND OTHER GOVERNMENTAL PROCEEDINGS	  	24
		 	SECTION 4.6.	 		 	ENVIRONMENTAL MATTERS	  	25
		 	SECTION 4.7.	 		 	COMPLIANCE WITH LAWS AND AGREEMENTS; PERMITS; NO CREDIT
AGREEMENT DEFAULTS	  	25
		 	SECTION 4.8.	 		 	INVESTMENT COMPANY ACT	  	26
		 	SECTION 4.9.	 		 	TAXES	  	26
		 	SECTION 4.10.	 		 	ERISA	  	26
		 	SECTION 4.11.	 		 	DISCLOSURE; NO MATERIAL MISSTATEMENTS	  	27
		 	SECTION 4.12.	 		 	INSURANCE	  	27
		 	SECTION 4.13.	 		 	RESTRICTIONS ON LIENS	  	27
		 	SECTION 4.14.	 		 	EQUITY INTERESTS, ETC	  	27
		 	SECTION 4.15.	 		 	LOCATION OF BUSINESS AND OFFICES	  	27
		 	SECTION 4.16.	 		 	PROPERTIES; TITLE, ETC	  	28
		 	SECTION 4.17.	 		 	MAINTENANCE OF PROPERTIES	  	28
		 	SECTION 4.18.	 		 	ACCESS TO UTILITIES, ROADS, ETC	  	28
		 	SECTION 4.19.	 		 	USE OF PROCEEDS	  	29
		 	SECTION 4.20.	 		 	SOLVENCY	  	29
		 	SECTION 4.21.	 		 	LABOR MATTERS	  	29
		 	SECTION 4.22.	 		 	OPERATIVE DOCUMENTS	  	29
		 	SECTION 4.23.	 		 	FOREIGN ASSET CONTROL REGULATIONS, ETC	  	30

  

 i 

									
	TABLE OF CONTENTS
	(continued)
					
	 	 	 	 	 	 	 	  	Page
			
	ARTICLE V.	 	AFFIRMATIVE COVENANTS	  	30
					
		 	SECTION 5.1.	 		 	FINANCIAL STATEMENTS; OTHER REPORTING AND INFORMATION REQUIREMENTS	  	30
		 	SECTION 5.2.	 		 	DEBT SERVICE COVERAGE RATIO AND PROJECT CAPACITY FACTOR
CALCULATIONS	  	33
		 	SECTION 5.3.	 		 	NOTICE OF MATERIAL EVENTS	  	33
		 	SECTION 5.4.	 		 	EXISTENCE; CONDUCT OF BUSINESS	  	34
		 	SECTION 5.5.	 		 	OPERATIVE DOCUMENTS	  	34
		 	SECTION 5.6.	 		 	PAYMENT OF OBLIGATIONS	  	34
		 	SECTION 5.7.	 		 	PERFORMANCE OF OBLIGATIONS UNDER FINANCING DOCUMENTS	  	35
		 	SECTION 5.8.	 		 	PROJECT CONSTRUCTION	  	35
		 	SECTION 5.9.	 		 	OPERATION AND MAINTENANCE OF PROPERTIES	  	35
		 	SECTION 5.10.	 		 	QF STATUS	  	35
		 	SECTION 5.11.	 		 	ANNUAL OPERATING PLAN AND BUDGET	  	35
		 	SECTION 5.12.	 		 	INSURANCE	  	36
		 	SECTION 5.13.	 		 	BOOKS AND RECORDS; INSPECTION RIGHTS	  	36
		 	SECTION 5.14.	 		 	COMPLIANCE WITH LAWS	  	36
		 	SECTION 5.15.	 		 	ENVIRONMENTAL MATTERS	  	36
		 	SECTION 5.16.	 		 	ERISA COMPLIANCE	  	37
		 	SECTION 5.17.	 		 	SENIOR STATUS	  	37
		 	SECTION 5.18.	 		 	FURTHER ASSURANCES	  	38
		 	SECTION 5.19.	 		 	COMPLETION; PERFORMANCE TESTS	  	38
			
	ARTICLE VI.	 	NEGATIVE COVENANTS	  	38
					
		 	SECTION 6.1.	 		 	DEBT	  	38
		 	SECTION 6.2.	 		 	LIENS	  	39
		 	SECTION 6.3.	 		 	RESTRICTED PAYMENTS, ETC	  	39
		 	SECTION 6.4.	 		 	INVESTMENTS, LOANS AND ADVANCES	  	39
		 	SECTION 6.5.	 		 	NATURE OF BUSINESS	  	40
		 	SECTION 6.6.	 		 	RECEIVABLES	  	40
		 	SECTION 6.7.	 		 	PREPAYMENTS	  	40
		 	SECTION 6.8.	 		 	PROCEEDS OF THE ADVANCES	  	40
		 	SECTION 6.9.	 		 	ERISA COMPLIANCE	  	40
		 	SECTION 6.10.	 		 	MERGERS, ETC	  	41
		 	SECTION 6.11.	 		 	[RESERVED]	  	41
		 	SECTION 6.12.	 		 	TERRORISM SANCTIONS REGULATIONS	  	42
		 	SECTION 6.13.	 		 	NEGATIVE PLEDGE AGREEMENTS	  	42
		 	SECTION 6.14.	 		 	TRANSACTIONS WITH AFFILIATES	  	42
		 	SECTION 6.15.	 		 	[RESERVED]	  	42
		 	SECTION 6.16.	 		 	AMENDMENT, ETC OF OPERATIVE DOCUMENTS	  	42
		 	SECTION 6.17.	 		 	AMENDMENT OF ORGANIZATIONAL DOCUMENTS	  	42
		 	SECTION 6.18.	 		 	FOREIGN ASSETS CONTROL REGULATIONS, ETC	  	43
		 	SECTION 6.19.	 		 	NO EMPLOYEES	  	43
		 	SECTION 6.20.	 		 	CHANGE OF CONTROL	  	43
		 	SECTION 6.21.	 		 	ASSET DISPOSITIONS	  	43
			
	ARTICLE VII.	 	CREDIT AGREEMENT EVENTS OF DEFAULT	  	43
					
		 	SECTION 7.1.	 		 	FAILURE TO MAKE PAYMENTS	  	43
		 	SECTION 7.2.	 		 	MISSTATEMENTS	  	44
		 	SECTION 7.3.	 		 	BREACH OF TERMS OF AGREEMENT OR BREACH OF OTHER
FINANCING DOCUMENTS	  	44

  

 ii 

									
	TABLE OF CONTENTS
	(continued)
	 	 	 	 	 	 	 	  	Page
		 	SECTION 7.4.	 		 	FINANCING DOCUMENTS	  	45
		 	SECTION 7.5.	 		 	MATERIAL INDEBTEDNESS	  	45
		 	SECTION 7.6.	 		 	BANKRUPTCY; INSOLVENCY	  	45
		 	SECTION 7.7.	 		 	JUDGMENTS	  	46
		 	SECTION 7.8.	 		 	ERISA	  	46
		 	SECTION 7.9.	 		 	[RESERVED]	  	46
		 	SECTION 7.10.	 		 	LOSS OF QUALIFYING FACILITY STATUS OR GOVERNMENT APPROVALS	  	46
		 	SECTION 7.11.	 		 	FACILITY SUBSTANTIAL COMPLETION	  	46
		 	SECTION 7.12.	 		 	[RESERVED.]	  	46
		 	SECTION 7.13.	 		 	DEFAULT IN OPERATIVE DOCUMENTS	  	46
		 	SECTION 7.14.	 		 	INVALIDITY OF OPERATIVE DOCUMENTS	  	47
		 	SECTION 7.15.	 		 	LOSS OF LEASEHOLD OR TITLE	  	47
		 	SECTION 7.16.	 		 	EVENT OF ABANDONMENT	  	47
			
	ARTICLE VIII.	 	REMEDIES ON DEFAULT, ETC	  	47
					
		 	SECTION 8.1.	 		 	ACCELERATION	  	47
		 	SECTION 8.2.	 		 	OTHER REMEDIES	  	48
		 	SECTION 8.3.	 		 	RESCISSION	  	48
		 	SECTION 8.4.	 		 	NO WAIVERS OR ELECTION OF REMEDIES, EXPENSES, ETC	  	48
			
	ARTICLE IX.	 	EXPENSES, TAXES, ETC	  	49
					
		 	SECTION 9.1.	 		 	EXPENSES; INDEMNITY; DAMAGE WAIVER	  	49
		 	SECTION 9.2.	 		 	[RESERVED]	  	50
			
	ARTICLE X.	 	SURVIVAL; REVIVAL; REINSTATEMENT; ENTIRE AGREEMENT	  	50
					
		 	SECTION 10.1.	 		 	SURVIVAL	  	50
		 	SECTION 10.2.	 		 	REVIVAL AND REINSTATEMENT	  	51
		 	SECTION 10.3.	 		 	ENTIRE AGREEMENT	  	51
			
	 ARTICLE XI.
	 	AMENDMENT AND WAIVER	  	51
					
		 	 SECTION 11.1.
	 		 	WAIVERS BY THE COMPANY	  	51
		 	 SECTION 11.2.
	 		 	AMENDMENTS; WAIVERS	  	51
		 	 SECTION 11.3.
	 		 	PRESERVATION OF RIGHTS	  	52
		 	 SECTION 11.4.
	 		 	BINDING EFFECT, ETC	  	53
		 	 SECTION 11.5.
	 		 	COMMITMENTS HELD BY COMPANY, ETC	  	53
			
	 ARTICLE XII.
	 	REPRODUCTION OF DOCUMENTS	  	53
			
	 ARTICLE XIII.
	 	CONFIDENTIAL INFORMATION	  	53
			
	 ARTICLE XIV.
	 	NOTICES	  	55
					
		 	 SECTION 14.1.
	 		 	NOTICE INFORMATION	  	55
		 	 SECTION 14.2.
	 		 	DISCLOSURE	  	55
		 	 SECTION 14.3.
	 		 	PLATFORM	  	56
		 	 SECTION 14.4.
	 		 	COMMUNICATIONS	  	56
			
	 ARTICLE XV.
	 	ADMINISTRATIVE AGENT AND ADMINISTRATIVE LENDER	  	56
					
		 	 SECTION 15.1.
	 		 	APPOINTMENT; POWERS	  	56
		 	 SECTION 15.2.
	 		 	DUTIES AND OBLIGATIONS OF ADMINISTRATIVE AGENT AND ADMINISTRATIVE
LENDER	  	57
		 	 SECTION 15.3.
	 		 	ACTION BY ADMINISTRATIVE AGENT OR ADMINISTRATIVE LENDER	  	58
		 	 SECTION 15.4.
	 		 	LIEN RELEASE	  	58

  

 iii 

									
		 	TABLE OF CONTENTS
		 	(continued)
	 	 	 	 	 	 	 	  	Page
				
		 	SECTION 15.5.	 	LENDER’S DIRECTION	  	59
		 	SECTION 15.6.	 		 	RELIANCE	  	59
		 	SECTION 15.7.	 		 	SUBAGENTS	  	59
		 	SECTION 15.8.	 		 	RESIGNATION OR REMOVAL OF ADMINISTRATIVE AGENT OR ADMINISTRATIVE
LENDER	  	59
		 	SECTION 15.9.	 		 	ADMINISTRATIVE AGENT AS A LENDER	  	60
		 	SECTION 15.10.	 		 	NO RELIANCE	  	60
		 	SECTION 15.11.	 		 	LIMITATION ON DAMAGES	  	61
		 	SECTION 15.12.	 		 	FORCE MAJEURE	  	61
				
	ARTICLE XVI.	 		 	MISCELLANEOUS	  	61
					
		 	SECTION 16.1.	 		 	SUCCESSORS AND ASSIGNS	  	61
		 	SECTION 16.2.	 		 	ASSIGNMENTS AND PARTICIPATIONS	  	61
		 	SECTION 16.3.	 		 	SEVERABILITY	  	64
		 	SECTION 16.4.	 		 	CONSTRUCTION	  	64
		 	SECTION 16.5.	 		 	COUNTERPARTS	  	64
		 	SECTION 16.6.	 		 	USA PATRIOT ACT NOTICE	  	64
		 	SECTION 16.7.	 		 	INTEREST RATE LIMITATION	  	64
		 	SECTION 16.8.	 		 	GOVERNING LAW; JURISDICTION; SERVICE OF PROCESS	  	65
		 	SECTION 16.9.	 		 	LIMITATION ON RECOURSE	  	67
		 	SECTION 16.10.	 		 	DELIVERY OF REPORTS, NOTICES, CERTIFICATES AND OTHER
DOCUMENTS	  	67

  

 iv 

			
	LIST OF SCHEDULES
		
	Schedule A:	 	Lender Commitments and Notice Information
	Schedule Z:	 	Defined Terms
	Schedule 2.2(b)(i):	 	Project Budget
	Schedule 2.2(b)(ii):	 	Project Schedule
	Schedule 2.3:	 	Amortization Schedule
	Schedule 4.5:	 	Litigation and other Governmental Proceedings
	Schedule 4.7:	 	Permits
	Schedule 4.14:	 	Equity Interests
	Schedule 4.15:	 	The Company’s Organizational Data
	Schedule 5.12:	 	Insurance
	Schedule 6.14:	 	Transactions with Affiliates
	Schedule 6.20:	 	Change of Control
	
	LIST OF EXHIBITS
		
	Exhibit 1:	 	Project Description
	Exhibit 2.2:	 	Form of Quarterly Advance Request
	Exhibit 2.15:	 	Form of Note
	Exhibit 3.1.17(b):	 	Forms of Security Instruments
	Exhibit 3.1.17(c):	 	Form of Consent and Agreement
	Exhibit 3.2.1:	 	Budget and Schedule Certificate
	Exhibit 5.1.3:	 	Form of Compliance Certificate
	Exhibit 16:	 	Form of Assignment and Acceptance
	Exhibit Z-A:	 	Form of Schedule Z Amendment

  

 v 

 CREDIT AGREEMENT 
 This CREDIT AGREEMENT dated as of August 31, 2008 among Thermo No. 1 BE-01, LLC, a Delaware limited liability company (the
“Company”), the Lenders, and Deutsche Bank Trust Company Americas, as administrative agent (together with any successor administrative agent appointed pursuant to Article XV, the “Administrative Agent”) for
the Lenders (as this credit agreement may be amended, modified or otherwise supplemented from time to time in accordance with its terms, this “Agreement”). 
 PRELIMINARY STATEMENTS: 
 (1) The Company intends to design, develop, construct, install, finance,
test, start-up, commission, operate and maintain the Project. 
 (2) The Company has requested that the Lenders make loans to the Company for the purpose of
financing certain costs for the design, development, construction, installation, financing, testing, start-up and commissioning of the Project in an aggregate principal amount not exceeding $31,175,092. The Lenders have indicated their willingness
to lend such amounts on the terms and conditions of this Agreement and in the other Financing Documents. 
 NOW, THEREFORE, in consideration
of the premises and of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree as follows: 
 ARTICLE I. 
 DEFINITIONS AND
CONSTRUCTION 
 Section 1.1. Definitions. Capitalized terms used in this Agreement but not otherwise defined herein shall have the
meanings specified therefor on Schedule Z. The Parties hereto agree that Schedule Z attached hereto shall be deemed amended upon any amendment, modification, revisions or restatement thereof pursuant to any Schedule Z Document,
whereupon Schedule Z shall be removed and replaced by such amended, modified, revised or restated form of Schedule Z without any further action required by the Parties hereto; provided, however, that no such amendment,
modification, revisions or restatement thereof shall be effective as against any Party unless such Party has provided its prior written consent to such amendment, modification, revision or restatement, such consent not to be unreasonably withheld,
conditioned or delayed. 
 Section 1.2. Other Interpretive Provisions. With reference to this Agreement and each other Financing Document, unless
otherwise specified herein or in such other Financing Document: 
 1.2.1. The definitions of terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed
to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (a) any definition of or
reference to any agreement, instrument or other document (including any Organizational Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or 

  

 1 

 
otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Financing Document),
(b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of similar import when used in any
Financing Document, shall be construed to refer to such Financing Document in its entirety and not to any particular provision thereof, (d) all references in a Financing Document to Sections, Exhibits and Schedules shall be construed to refer
to Sections of, and Exhibits and Schedules to, the Financing Document in which such references appear, (e) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such
law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, (f) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all real and personal property and tangible and intangible assets and properties, including cash, securities, accounts and contract rights, (h) all times are Eastern Standard
Time or Eastern Daylight Time, as the case may be, and (i) all amounts to be paid hereunder are referenced in Dollars and are to be paid by wire transfer in immediately available funds. 
 1.2.2. In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and
including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” Unless otherwise specified herein, reference to any time period measured in
days for the purpose of notice hereunder or the satisfaction of any obligation herein shall mean calendar days. 
 1.2.3. Section headings
herein and in the other Financing Documents are included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Financing Document. 
 Section 1.3. Accounting Terms. 
 1.3.1. Generally. Except as otherwise specifically
prescribed herein, all accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to
this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the audited financial statements. 
 1.3.2. Changes in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any
Financing Document, and either the Company, on the one hand, or the Administrative Agent or the Administrative Lender, on the other hand, shall so reasonably request, the Administrative Agent, the Required Lenders and the Company shall negotiate in
good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP; provided that, until so amended, (a) such ratio or requirement shall continue to be computed in accordance with GAAP
prior to such change therein, and (b) the Company shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a
reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 
  

 2 

 1.3.3. Calculations. Notwithstanding the above, the Parties hereto acknowledge and agree that all
calculations of the financial covenants in Section 5.2 shall be made on a Pro Forma Basis. 
 1.3.4. Rounding. Any
financial ratios required to be maintained by the Company pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such
ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 1.3.5. Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 
 ARTICLE II. 
 AMOUNTS AND TERMS OF TERM LOAN ADVANCES 
 Section 2.1. The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, an
“Advance”) to the Company on Advance Dates during the Availability Period in an aggregate amount not to exceed such Lender’s Commitment at such time; provided that without the written consent of the Required Lenders, no
more than one Advance may be made in any Fiscal Quarter. Amounts borrowed under this Section 2.1 and repaid or prepaid may not be reborrowed. 
 Section 2.2. Making the Advances. 
 2.2.1. Each Advance shall be made on written notice (an “Advance
Request”) given by the Company to the Administrative Agent not later than 12:00 Noon on the fifth (5th) Business Day prior to the date of the proposed Advance, provided that the first Advance shall be made on the fifth
(5th) Business Day following the Closing Date, unless an earlier date is otherwise approved by the Required Lenders, in accordance with the Advance Request delivered by the Company not later than 10:00 a.m. on the Closing Date. The
Administrative Agent shall give to each Lender prompt notice of an Advance Request by telecopier. Each such Advance Request shall be in writing and substantially in the form of Exhibit 2.2, specifying therein the requested (i) date of
such an Advance, and (ii) aggregate amount of such an Advance. Each Lender shall, before 11:00 a.m. on the date of such Advance, make available for the account of its Lending Office to the Administrative Agent at the Administrative Agent’s
Account, in same day funds, such Lender’s ratable portion of such Advance in accordance with the respective Commitments of such Lender and the other Lenders. After the Administrative Agent’s receipt of such funds and upon fulfillment of
the applicable conditions set forth in Article III, the Administrative Agent will make such funds available to the Company by crediting the Construction Account (as identified in the Account and Security Agreement). 
 2.2.2. Anything in subsection (a) above to the contrary notwithstanding, each Advance shall (i) relate solely to the current or immediately
succeeding Fiscal Quarter, (ii) be in an amount consistent with the Project Budget attached hereto as Schedule 2.2(b)(i) and Project Schedule attached hereto as Schedule 2.2(b)(ii) as certified by a Responsible Officer of the
Company including a separate certification from the Independent Engineer pursuant to Section 

  

 3 

 
3.2.1, and (iii) be in an aggregate principal amount of not less than $1,000,000 or integral multiples of $500,000 in excess thereof, unless such
Advance is for the remaining amount of the Commitment, in which case the remaining amount of the Commitment may be drawn notwithstanding this clause (iii). 
 2.2.3. Each Advance Request shall be irrevocable and binding on the Company. The Company shall indemnify each Lender against any actual out-of-pocket loss, cost or expense (other than consequential or other indirect
damages) incurred by such Lender as a result of any failure of the Company to fulfill the applicable conditions set forth in Article III on or before the date specified in any Advance Request or its failure to draw the Advance as set forth in
the Advance Request for any other reason, including the actual costs incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Advance (or any portion thereof) to be made by such Lender if
such Advance is not made on such date as a result of any such failure. 
 2.2.4. Unless the Administrative Agent shall have received written
notice from a Lender prior to the date of any Advance that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Advance, the Administrative Agent may (but shall have no obligation to) assume that
such Lender has made such portion available to the Administrative Agent on the date of such Advance in accordance with Section 2.2.1 and the Administrative Agent may, in reliance upon such assumption, make available to the Company on
such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to the Administrative Agent, such Lender and the Company severally agree to repay or pay to the Administrative Agent
forthwith on demand such corresponding amount and to pay interest thereon, for each day from the date such amount is made available to the Company until the date such amount is repaid or paid to the Administrative Agent, at (i) in the case of
the Company, the interest rate applicable at such time under Section 2.8, and (ii) in the case of such Lender, two percent (2%). If such Lender shall pay to the Administrative Agent such corresponding amount, such amount so paid
shall constitute such Lender’s portion of such Advance for all purposes; provided that, to the extent the Company has paid interest thereon to the Administrative Agent pursuant to clause (i), the interest thereon shall not be payable to
such Lender for such period. 
 2.2.5. The failure of any Lender to make the Advance to be made by it hereunder shall not relieve any other
Lender of its obligation, if any, hereunder to make its Advance on the date required hereby, but no Lender shall be responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date required hereby.

 Section 2.3. Repayment of Advances. The Company shall repay to the Administrative Agent for the ratable account of the Lenders the aggregate
outstanding principal amount of the Advances on the dates and in the amounts set forth in the amortization schedule attached as Schedule 2.3 (which amounts shall be reduced as a result of the application of prepayments in accordance with
Sections 2.5 and 2.6); provided, however, that the final principal installment shall be repaid on the Final Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of the Advances
outstanding on such date. 
  

 4 

 Section 2.4. Termination or Reduction of the Commitments. The Company shall not be permitted to terminate or
reduce the Commitments in whole or in part. The aggregate unused portion of the Commitments shall terminate at the end of the Availability Period pro rata as to each Lender, and the Administrative Agent shall update the Register as of such date to
reflect the Commitments and Advances as of the Final Completion Date. 
 Section 2.5. Optional Prepayment. The Company may not optionally prepay
all or any portion of the Advances until a date that is on or after the seventh (7th) anniversary of the Facility Substantial Completion Date. The Company may, at any time and from time to time on or after the seventh (7th) anniversary of
the Facility Substantial Completion Date, upon written notice received by the Administrative Agent on or before 12:00 Noon on the fifth (5th) Business Day prior to the proposed date of such prepayment, stating the proposed date and aggregate
principal amount of the prepayment, and if such notice is given, the Company shall, prepay all or a portion of the outstanding aggregate principal amount of the Advances, together with (a) accrued interest to the date of such prepayment on the
aggregate principal amount prepaid and (b) the Make-Whole Amount. Each such prepayment of any Advances pursuant to this Section 2.5 shall be applied to the remaining scheduled repayments for the Advances in the inverse order of
maturity. 
 Section 2.6. Mandatory Prepayments. 
 2.6.1. Casualty Event. 
 2.6.1.1. Notice of Casualty Event. As soon as
practicable, but in any event within five (5) Business Days following the occurrence of any Casualty Event, the Company shall notify the Administrative Agent, the Administrative Lender, the Collateral Agent and the Independent Engineer in
writing of such Casualty Event. Within thirty (30) days of such Casualty Event, the Company shall provide written notice to the Administrative Agent and the Administrative Lender of the Company’s reasonable determination, with confirmation
from the Independent Engineer, of the damage to the Project resulting from such Casualty Event. If (a) the damages to the Project are not reasonably expected to exceed $1,000,000, and (b) the Company has delivered to the Administrative
Agent, the Administrative Lender, the Collateral Agent and the Independent Engineer a certificate stating that such Casualty Event is not material to the Project and its operation, the Company may elect within forty-five (45) days of providing
notice of such Casualty Event to either (i) apply any Loss Proceeds received in connection therewith to Restoration Work, as set forth in Section 2.6.1.2(3) below, or (ii) deem any such Loss Proceeds as Gross Project Revenues.

 2.6.1.2. Restoration; Loss Proceeds. 
  

	 	(1)	 All Loss Proceeds of any Casualty Event received by the Company or the Administrative Agent in respect of all or any part of the Project will be deposited in the
Loss Proceeds Account established pursuant to the Account and Security Agreement. If (i) such Loss Proceeds are less than or equal to $1,000,000 for any single Casualty Event and the Company has elected, in accordance with
Section 2.6.1.1 above, to treat such 

  

 5 

	 	 
Loss Proceeds as Gross Project Revenues such Loss Proceeds shall be deposited in the Revenue Account, and (ii) in all other cases, such amounts will be
applied as provided in this Section 2.6.1.2. 

  

	 	(2)	If such Casualty Event is a Total Loss, all such Loss Proceeds shall be applied toward the mandatory payment of the Redemption Amount; provided that if the Company makes a
determination that it will restore the Project following a Casualty Event constituting a Total Loss, so long as the Obligations have been indefeasibly paid in full and the Financing Documents terminated by satisfaction of the requirements of a
payoff letter from the Administrative Agent the terms of which shall be provided to the Administrative Agent by the Administrative Lender on behalf of all the Lenders, detailing the outstanding Obligations owed to the Lenders under the Financing
Documents within thirty (30) days after the Administrative Agent’s receipt of such Loss Proceeds, such Loss Proceeds (or any remaining portion thereof not applied to the indefeasible repayment of the Obligations) shall be promptly released
to the Company after written direction from the Company or as directed by a court of competent jurisdiction. “Total Loss” means a casualty event the aggregate net insurance proceeds for which equal or exceed fifty percent
(50%) of the total replacement value of the Project. 

  

	 	(3)	If such Casualty Event is not a Total Loss and the aggregate amount of such Loss Proceeds is equal to or less than $1,000,000 for any single Casualty Event, and the Company has
elected, pursuant to Section 2.6.1.1 to apply such Loss Proceeds to Restoration Work pursuant to a Restoration Plan, such amounts will be made available to the Company from time to time at its request to be applied by the Company to
rebuild, repair, restore or replace (“Restore”) the affected Property. 

  

	 	(4)	 If such Casualty Event is not a Total Loss and the aggregate amount of Loss Proceeds exceeds $1,000,000 for any single Casualty Event, and the Company proposes to
Restore the affected Property, then the Company shall as promptly as practicable (but in no event longer than seventy-five (75) days after such Casualty Event) deliver to the Administrative Lender, the Lenders, as the case may be, and the
Independent Engineer a Restoration Plan (as defined below). Upon receipt of such Restoration Plan, if the Loss Proceeds are in excess of $1,000,000 for any single Casualty Event, but less than $5,000,000, the Administrative Lender (or if $5,000,000
or 

  

 6 

	 	 
more, the Required Lenders) shall have thirty (30) days from receipt to either approve (which approval shall not be unreasonably withheld or delayed) or
reject such plan after Requisite Expert Consultation; provided that if such proposed Restoration Plan is not reasonably satisfactory to the Administrative Lender or the Required Lenders, as the case may be, after Requisite Expert
Consultation, the Administrative Lender shall notify the Company of the reasons therefor and the Company will have an additional thirty (30) days to propose additional changes to the proposed Restoration Plan, which proposed changes will be
reviewed by the Administrative Lender or the Required Lenders, as applicable, after Requisite Expert Consultation. If the Administrative Lender or the Required Lenders, as applicable, ultimately approve any proposed Restoration Plan, the Company
shall immediately commence and diligently pursue the Restoration Work in accordance with such Restoration Plan. If the Administrative Lender or the Required Lenders, as the case may be, reject such proposed Restoration Plan, the aggregate amount of
Loss Proceeds received in respect of such Casualty Event shall be applied in accordance with Section 2.6.1.2(6) below. 

  

	 	(5)	 “Restoration Plan” means a plan, developed by the Company and certified by an authorized officer of the Company, separately reviewed and certified
by the Independent Engineer, for the restoration of the affected Property, demonstrating in reasonable detail that: (i) the expected DSCR of the Project after the proposed Restoration Work will meet the Minimum DSCR, (ii) the aggregate
amounts of Loss Proceeds in respect of such Casualty Event deposited in the Loss Proceeds Account plus any other amounts deposited or to be deposited in the Loss Proceeds Account by the Company or any other Persons are anticipated to be sufficient
to restore the affected Property at least to the condition prior to the occurrence of such Casualty Event, such condition to be in accordance with the requirements of any applicable Operative Documents, (iii) the plans and specifications and
the schedule for the Restoration Work provide for restoration work that is technically feasible, and can be completed in accordance with all Applicable Laws, (iv) if such Casualty Event occurs prior to the Facility Substantial Completion Date,
the Restoration Work will be completed in a timeframe to permit the Facility Substantial Completion Date to occur on or before the Guaranteed Final Completion Date, (v) if such Casualty Event occurs (A) after the Final Completion Date,
sufficient funds will be available during the Restoration Work to pay Debt Service and other 

  

 7 

	 	 
costs and expenses of the Project and the Company or (B) before the Final Completion Date, sufficient funds will be available to complete construction,
(vi) all Governmental Approvals required for the Restoration Work have been obtained or can reasonably be expected to be obtained in due course and do not or are expected not to include any conditions for the operation of the Project as a
result of the Casualty Event that would require additional funding for such conditions in excess of available Loss Proceeds or other funds available therefor, (vii) neither the Casualty Event nor the performance of Restoration Work will result
in a breach, termination, cancellation, revocation or other invalidity or impairment of any Governmental Approval or any Operative Document then in effect that could, individually or in the aggregate, be expected to have a Material Adverse Effect,
and (viii) if approval of the Administrative Lender or the Required Lenders is required, such other matters as the Administrative Lender or the Required Lenders, as applicable, may reasonably request. In addition, any documents or agreements to
be entered into by the Company with respect to any Restoration Plan must be approved (which approval shall not be unreasonably withheld) by the Required Lenders. 

  

	 	(6)	If the Casualty Event is not a Total Loss, but the Company elects not to Restore the affected Property, or, if approval of a Restoration Plan is required and such Restoration Plan
is not approved by the Administrative Lender or Required Lenders, as the case may be, or does not qualify as a Restoration Plan, the Loss Proceeds will be applied to the mandatory prepayment of the Redemption Amount upon the later of (i) the
receipt of Loss Proceeds, (ii) the determination that the proposed Restoration Plan does not qualify as a Restoration Plan, and (iii) one hundred thirty-five (135) days after the occurrence of the Casualty Event.

  

	 	(7)	 Funds on deposit in the Loss Proceeds Account will be used to pay for the Restoration Work, and will be disbursed as follows: the Company will submit to the
Administrative Lender and the Collateral Agent a request for payment together with all relevant invoices for the Restoration Work for which the Company seeks payment and a certificate of a Responsible Officer of the Company, including a separate
certificate by the Independent Engineer as to the matters set forth in parts (i) through (iv) and (vi) below, (a “Loss Proceeds Withdrawal Request”), stating that (i) the Restoration Work done to date has been
done in a good and workmanlike manner and in compliance with the Restoration Plan, (ii) the sum requested is 

  

 8 

	 	 
required to pay for reasonable costs incurred in connection with such Restoration Work (including a description of the services and materials provided in
connection with such Restoration Work and amounts paid or incurred in respect thereof), (iii) the sum requested, when added to all amounts with respect to the relevant Casualty Event previously paid out from the Loss Proceeds Account, does not
exceed the aggregate amount then due and payable with respect to the Restoration Work as of the date of such certificate, (iv) the amount of net insurance proceeds with respect to the Casualty Event remaining in the Loss Proceeds Account,
together with any other amounts deposited in the Loss Proceeds Account by the Company or funded into an escrow account by any other Person (such escrow account to be established pursuant to an escrow agreement among the Administrative Agent, the
Company and such Person) are anticipated to be sufficient to complete the Restoration Work in accordance with the Restoration Plan, (v) no Credit Agreement Default or Credit Agreement Event of Default has occurred and is continuing on such date
(other than any such Credit Agreement Default or Credit Agreement Event of Default as would be cured by the application of funds on deposit in the Loss Proceeds Account to complete the Restoration Work), and (vi) no mechanics’,
materialmen’s or similar liens on the Collateral exist as a result of any Restoration Work, or if such liens exist, they will be fully discharged with proceeds of the requested disbursements from the Loss Proceeds Account (and the Company will
attach to such Loss Proceeds Withdraw Request duly executed acknowledgments of payments and releases of mechanics’ and materialmen’s liens, in form reasonably satisfactory to the Administrative Lender, from all contractors, subcontractors
and materialmen, for all work, services and materials, including equipment or fixtures of any kind, previously performed or furnished for the Project in respect of such Restoration Work). 

  

	 	(8)	Within three (3) Business Days after receipt of such Loss Proceeds Withdrawal Request, the Collateral Agent shall (upon written instruction from the Administrative Lender)
disburse funds on deposit in the Loss Proceeds Account in accordance with such certificate, for application to the Restoration Work as provided in such certificate. 

  

	 	(9)	 If the Company has not commenced the Restoration Work on the Project within sixty (60) days after (i) in the case of Restoration Work pursuant to
Section 2.6.1.2(3), deposit of the aggregate Loss Proceeds in the Loss Proceeds Account or (ii) in the case of Restoration Work pursuant to Section 2.6.1.2(4), 

  

 9 

	 	 
approval of the Restoration Plan, then, at the written direction of the Administrative Lender, such aggregate Loss Proceeds shall be applied to the mandatory
prepayment of the Redemption Amount, which payment shall be made in accordance with Section 2.11. 

  

	 	(10)	Any excess Loss Proceeds, plus any interest or gain thereon, remaining in the Loss Proceeds Account after completion of all Restoration Work will be applied in prepayment of the
Advances. 

 2.6.2. Change of Control. If a Change of Control occurs, the Company shall within three (3) Business
Days thereafter pay the Redemption Amount to the Administrative Agent, which payment shall be made in accordance with Section 2.11. 
 2.6.3. Ordinary Cash Trap Prepayment. The Company shall prepay the Advances in an amount equal to the Ordinary Cash Trap Amount on deposit in the OCT Suspension Account (as identified in the Account and Security Agreement at
the time and in the aggregate amount requested to be distributed therefrom by the Required Lenders pursuant to Section 3.6 of the Account and Security Agreement. 
 2.6.4. Development Account Prepayment. Upon the disbursement of any monies in the Development Account pursuant to Section 3.9.3.6 of
the Account and Security Agreement to repay Advances such funds shall be applied to repay the maximum principal amount of the Advances taking into account the accrued and unpaid interest and Make-Whole Amount which would be payable with
respect to the principal amount of the Advances proposed to be prepaid. 
 2.6.5. Mandatory Capacity Buy-Down. Upon the occurrence of
a Buy-Down Trigger Event, the Company shall prepay the Obligations on the Guaranteed Final Completion Date in an amount equal to the Buy-Down CA Redemption Amount as such amount may be reduced in accordance with Section 6.4 of the EPC
Agreement. The Buy-Down CA Redemption Amount shall be applied, first, to pay the principal amount of the Advances in an amount equal to the Buy-Down Debt Overage, second, to accrued and unpaid interest on the principal amount of the Advances
being repaid, third, to the Make-Whole Amount payable on the principal amount of the Advances being repaid, and, finally, to the Development Account. 
 2.6.6. [RESERVED] 
 2.6.7. Maturity, etc. In the case of each payment or prepayment of the Advances
pursuant to Section 2.5 or 2.6, the principal amount of each Advance to be paid or prepaid shall mature and become due and payable on the date fixed for such payment or prepayment, together with accrued unpaid interest (if any) on
such principal amount being paid or prepaid to such date. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with prepayment or Redemption Amount, including the Make-Whole Amount,
if applicable, and the interest as aforesaid, interest (if any) on such principal amount shall cease to accrue. Any prepayment pursuant to this Section 2.6 

  

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shall be applied to the remaining scheduled repayments of the Advances in the inverse order of maturity. 
 Section 2.7. Indemnity for Returned Payments. If after receipt of any payment which is applied to the payment of all or any part of the Obligations, the
Administrative Agent or any Lender is for any reason compelled by any Governmental Authority to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside,
determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason, then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall
continue in full force as if such payment or proceeds had not been received by the Administrative Agent or Lender and the Company shall be liable to pay to the Administrative Agent and such Lender, and the Company hereby indemnifies the
Administrative Agent and such Lender and holds the Administrative Agent and the Lenders harmless for the amount of such payment or proceeds surrendered. The provisions of this Section 2.7 shall be and remain effective notwithstanding any
contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds, and any such contrary action so taken shall be without prejudice to the Administrative Agent’s and the
Lenders’ rights under this Agreement and shall be deemed to have been conditioned upon such payment or application of proceeds having become final and irrevocable. The provisions of this Section 2.7 shall survive the termination of
this Agreement. 
 Section 2.8. Interest. The outstanding principal amount of each Advance shall bear interest from the date of such Advance
until such principal amount shall be paid in full at a fixed rate of interest of 7.00% per annum, but in no event to exceed the Highest Lawful Rate. Interest on each Advance shall be paid only in cash in Dollars on each Pre-Completion Interest
Payment Date and each Quarterly Transfer Date by wire transfer of immediately available funds as required by Section 2.11. 
 Section 2.9.
Default Interest. If a Credit Agreement Event of Default has occurred and is continuing, or if any principal of or interest on any Advance or any fee or other amount payable by the Company hereunder or under any other Financing Document is
not paid when due, whether at stated maturity, upon acceleration or otherwise, then the principal amount of the Advances then outstanding, in the case of a Credit Agreement Event of Default, and such overdue amount, in the case of a failure to pay
amounts when due, shall bear interest, from the date of the occurrence of the related Credit Agreement Default in the case of a Credit Agreement Event of Default, after as well as before judgment, at an additional fixed interest rate of two percent
(2%) per annum, but in no event to exceed the Highest Lawful Rate (the “Default Rate”). All default interest shall be due and payable upon demand from the Administrative Agent. 
 Section 2.10. Fees. 
 2.10.1. Commitment
Fee. The Company shall pay to the Administrative Agent for the account of the Lenders a commitment fee, from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to
which it became a Lender in the case of each other Lender until the final day of the Availability Period, payable in arrears on the Effective Date and thereafter on each Quarterly Transfer Date, 

  

 11 

 
and on the final day of the Availability Period (prior to the termination of the Commitments), at the rate of .50% per annum on the average daily unused
portion of each Lender’s Commitment during such quarter. Should any Lender fail to fund its portion of an Advance, such unfunded amount shall be deemed to be funded on the funding date specified pursuant to Section 2.2 for purposes
of calculating the average daily unused portion of such Lender’s Commitment for such quarter. 
 2.10.2. Agents’ Fees. The
Company shall pay to each Agent for its own account such fees as agreed to in the Fee Letter dated as of August 12, 2008. 
 Section 2.11.
Payments and Computations. 
 2.11.1. Subject to Section 2.8, the Company shall make each payment hereunder or under any
other Financing Document, irrespective of any right of counterclaim or set-off, not later than 11:00 A.M. on the day when due in Dollars to the Administrative Agent at the Administrative Agent’s Account at Deutsche Bank Trust Company Americas,
SWIFT: BKTRUS33, ABA: 021-001-033, A/C: 01419647, Account: Corporate Trust, FFC: Thermo No. 1 Admin Agent Account 66209, in same day funds, with payments received by the Administrative Agent after such time being deemed to have been received on
the next succeeding Business Day. The Administrative Agent will promptly thereafter cause like funds to be distributed (a) if such payment by the Company is in respect of principal, interest, commitment fees or any other Obligation
(provided, that in respect of other Obligations such payments shall be evidenced in a written direction to the Administrative Agent from the Administrative Lender), then payable hereunder or under any other Financing Document to more than one
Lender, to such Lenders for the account of their respective Lending Offices ratably in accordance with the amounts of such respective Obligations then payable to such Lenders, and (b) if such payment by the Company is in respect of any
Obligation then payable hereunder or under any other Financing Document to one Lender, to such Lender for the account of its Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon its acceptance of an
Assignment and Acceptance and recording of the information contained therein in the Register pursuant to Section 16.2.1(d), from and after the effective date of such Assignment and Acceptance, the Administrative Agent shall make all
payments hereunder and under the Advances in respect of the interest assigned thereby to the assignee thereunder, and the parties to such Assignment and Acceptance shall make all appropriate adjustments in such payments for periods prior to such
effective date directly between themselves. 
 2.11.2. The Company hereby authorizes each Lender and each of its Affiliates, if and to the
extent payment owed to such Lender is not made when due hereunder or under any other Financing Document, to charge from time to time, to the fullest extent permitted by law, against any or all of the Company’s accounts with such Lender or such
Affiliate any amount so due. 
 2.11.3. All computations of interest and fees shall (i) include the first day of such period and exclude
the last day of such period, (ii) be computed on the basis of a 360-day year comprised of twelve (12) months of thirty (30) days each, (iii) be calculated, accrued and payable in arrears as specified in Section 2.8,
and (iv) be calculated and collected until (but 

  

 12 

 
excluding) the date the payment is actually received by the Administrative Agent in accordance with the terms of this Agreement. 
 2.11.4. Whenever any payment hereunder or under any other Financing Document shall be stated to be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be. 
 2.11.5. Unless the Administrative Agent shall have received written notice from the Company prior to the date on which any payment is due to any Lender
hereunder or under any other Financing Document that the Company will not make such payment in full, the Administrative Agent may assume that the Company has made such payment in full to the Administrative Agent on such date and the Administrative
Agent may (but shall not be obligated to), in reliance upon such assumption, cause to be distributed to each such Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Company shall not have so made
such payment in full to the Administrative Agent, each such Lender shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is
distributed to such Lender until the date such Lender repays such amount to the Administrative Agent, at a rate per annum equal to the Federal Funds Rate for the first three (3) Business Days and thereafter at the rate of interest that would be
payable by the Borrower on such amount if such amount constituted an Advance under this Agreement. 
 2.11.6. If the Administrative Agent
receives funds for application to the Obligations of the Company under or in respect of this Agreement or under any other Financing Document under circumstances for which this Agreement or under any other Financing Document does not specify the
Advances to which, or the manner in which, such funds are to be applied, the Administrative Agent may, but shall not be obligated to, elect to distribute such funds for application to such principal repayment installments thereof, as the Required
Lenders shall direct in writing. 
 2.11.7. Unless otherwise agreed among the Lenders (and evidenced in writing to the Company prior to the
payment date), principal and interest payments shall be apportioned ratably among the Lenders, as set forth in Schedule A (as modified by the Register) and this Section 2.11. All cash payments received in respect of the Advances
shall be applied (to the extent thereof) as follows: (a) first, to all costs and expenses of the Lenders and the Agents, and any fees due to any Lender or the Agents, in each case, that are payable by the Company hereunder,
(b) second, to accrued and unpaid interest on the Advances, (c) third, to the Make-Whole Amount due, if any, and (d) fourth, to the payment of the then outstanding principal balance of the Advances. 
 Section 2.12. Increased Costs, Etc. 
 2.12.1. If,
on or after the date hereof, due to either (i) the introduction of, or any change in or in the interpretation of, any law or regulation or (ii) the compliance with any guideline or request from any central bank or other governmental
authority (whether or not having the force of law), there shall be any increase in the cost to any Lender of agreeing to 

  

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make or of making, funding or maintaining the Advances (excluding, for purposes of this Section 2.12, any such increased costs resulting from
(A) Taxes or Other Taxes (as to which Section 2.13 shall govern) and (B) changes in the basis of taxation of overall net income or overall gross income by any applicable federal, state, local or foreign jurisdiction or any
political subdivision thereof, under the laws of which such Lender is organized, in which it carries on business, or has its Lending Office, then the Company shall from time to time, upon demand by such Lender (with a copy of such demand to the
Administrative Agent), pay to the Administrative Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost; and provided, however, that any Lender claiming additional amounts
under this Section 2.12.1 agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate a different Lending Office if the making of such a designation would avoid the need for,
or reduce the amount of, such increased cost that may thereafter accrue and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. Such Lender shall provide a certificate as to such increased cost amounts
submitted to the Company by such Lender showing how such amounts were calculated, such certificate shall be prima facie evidence thereof. 
 2.12.2. If due to either (i) the introduction of or any change in or in the interpretation of any law or regulation after the date hereof or (ii) the compliance with any guideline or request from any central bank or other
governmental authority (whether or not having the force of law), there shall be any increase in the amount of capital required or expected to be maintained by any Lender or any corporation controlling such Lender as a result of or based upon the
existence of such Lender’s commitment to lend the Advances, then, upon demand by such Lender or such corporation (with a copy of such demand to the Administrative Agent), the Company shall pay to the Administrative Agent for the account of such
Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender in the light of such circumstances, to the extent that such Lender reasonably determines such increase in capital is the result of the
existence of such Lender’s Commitment to lend the Advances hereunder. Such Lender shall provide a certificate as to such amounts submitted to the Company by such Lender showing how such amounts were calculated, which certificate shall be prima
facie evidence thereof. 
 2.12.3. In the event that a Lender demands any payment from the Company under this Section 2.12, the
Administrative Agent shall, so long as no Credit Agreement Default or Credit Agreement Event of Default has occurred and is continuing, upon the written request of the Company, replace such Lender (the “Affected Lender”) with
another Lender (the “Replacement Lender”), satisfying the requirements of an Eligible Assignee under Section 16.2, by having the Affected Lender sell and assign all of its rights and obligations under this Agreement and
the Financing Documents to the Replacement Lender pursuant to Section 16.2; provided, however, that neither the Administrative Agent nor any Lender shall have any obligation to identify or locate a Replacement Lender for
the Company (it being expressly agreed that in such circumstances it is the Company’s obligation to identify or locate a Replacement Lender that is an Eligible Assignee and is acceptable to the Administrative Lender). 
  

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 Section 2.13. Taxes. 
 2.13.1. Any and all payments by the Company to or for the account of any Lender or any Agent hereunder or under any other Financing Document shall be made, in accordance with Section 2.11, free and clear
of and without deduction for any and all present or future Taxes (other than Excluded Taxes). If a law becomes effective after the date on which any Lender becomes a party to this Credit Agreement requiring the Company to deduct any Taxes
from or in respect of any sum payable hereunder or under any other Financing Document to such Lender or any Agent, (a) the sum payable by the Company shall be increased as may be necessary so that after the Company and the Administrative Agent
have made all required deductions (including deductions applicable to additional sums payable under this Section 2.13) such Lender or such Agent, as the case may be, receives an amount equal to the sum it would have received had no such
deductions been made, (b) the Company shall make all such deductions, and (c) the Company shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with Applicable Law. 
 2.13.2. In addition, the Company shall pay any present or future stamp, documentary, excise, property, intangible, mortgage recording or similar taxes,
charges or levies that arise from any payment made by the Company hereunder or under any other Financing Document or from the execution, delivery or registration of, performance under, or otherwise with respect to, this Agreement or under any other
Financing Document (hereinafter referred to as “Other Taxes”). 
 2.13.3. The Company shall indemnify each Lender and each
Agent for and hold them harmless against the full amount of Taxes payable under Section 2.13.1 and Other Taxes payable under Section 2.13.2 (including, for greater clarity, Taxes imposed directly on a Lender in lieu of
withholding taxes), and for the full amount of Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section 2.13, imposed on or paid by such Lender or such Agent (as the case may be) and any
liability (including penalties, Taxes or Other Taxes, interest and expenses) arising therefrom or with respect thereto. This indemnification shall be made within thirty (30) days from the date such Lender or such Agent (as the case may be)
makes written demand therefor, accompanied by a certificate describing such Taxes or Other Taxes or other amounts for which indemnification is sought. 
 2.13.4. Within thirty (30) days after the date of any payment of Taxes, the Company shall furnish to the Administrative Agent, at its address referred to in Article XIV, the original or a certified copy of
a receipt evidencing such payment, to the extent such a receipt is issued therefor, or other written proof of payment thereof that is reasonably satisfactory to the Administrative Agent. 
 2.13.5. In the event that an additional payment is made under Section 2.13.1 or Section 2.13.2 for the account of any Lender and
such Lender, in its sole discretion, determines that it has finally and irrevocably received or been granted a credit against or release or remission for, or repayment of, any tax paid or payable by it in respect of or calculated with reference to
the deduction or withholding or tax imposed directly on the Lender giving rise to such payment, such Lender shall, to the extent that it determines that it can do so without prejudice to the retention of the amount of such credit, relief, remission
or repayment, pay to the Company such 

  

 15 

 
amount as such Lender shall, in its sole discretion, have determined to be attributable to such deduction or withholding or tax imposed directly on the
Lender and which will leave such Lender (after such payment) in no worse position than it would have been in if the Company had not been required to make such deduction or withholding or to pay to such Lender an amount on account of a tax imposed
directly on such Lender. Nothing herein contained shall interfere with the right of a Lender to arrange its tax affairs in whatever manner it thinks fit nor oblige any Lender to claim any tax credit or to disclose any information relating to its tax
affairs or any computations in respect thereof or require any Lender to do anything that would prejudice its ability to benefit from any other credits, reliefs, remissions or repayments to which it may be entitled. 
 2.13.6. If any Lender requests compensation under Section 2.12, or if the Company is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 2.13, then such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate a different Lending
Office for funding or booking its Advances hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or
reduce amounts payable pursuant to Section 2.12 or 2.13 and (ii) in each case, would not, in the sole judgment of such Lender, be otherwise disadvantageous to such Lender. The Company hereby agrees to pay all reasonable costs
and expenses incurred by any Lender in connection with any such designation or assignment. 
 2.13.7. Any Foreign Lender that is entitled to
an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Company is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement or any other Financing Document
shall deliver to the Company, at the time or times prescribed by Applicable Law, such properly completed and executed documentation prescribed by Applicable Law or reasonably requested by the Company as will permit such payments to be made without
withholding or at a reduced rate. 
 2.13.8. In the event that a Lender demands any payment from the Company under this
Section 2.13, the Administrative Agent shall, so long as no Credit Agreement Default or Credit Agreement Event of Default has occurred and is continuing, upon the written request of the Company, replace the Affected Lender with a
Replacement Lender, satisfying the requirements of an Eligible Assignee under Section 16.2, by having the Affected Lender sell and assign all of its rights and obligations under this Agreement and the Financing Documents to the
Replacement Lender pursuant to Section 16.2; provided, however, that neither the Administrative Agent nor any Lender shall have any obligation to identify or locate a Replacement Lender for the Company (it being expressly
agreed that in such circumstances it is the Company’s obligation to identify or locate a Replacement Lender that is an Eligible Assignee and is acceptable to the Administrative Lender). 
 Section 2.14. Sharing of Payments, Etc. If any Lender shall obtain at any time any payment (whether voluntary, involuntary, through the exercise of any right
of set-off, or otherwise, other than as a result of an assignment pursuant to Section 16.2.1) on account of (a) Obligations due and payable to such Lender hereunder or under any other Financing Document at such time in 

  

 16 

 
excess of its ratable share (according to the proportion of (i) the amount of such Obligations due and payable to such Lender at such time to
(ii) the aggregate amount of the Obligations due and payable to all Lenders hereunder and/or under any other Financing Document at such time) of payments on account of the Obligations due and payable to all Lenders hereunder and/or under the
other Financing Documents at such time obtained by all the Lenders at such time or (b) Obligations owing (but not due and payable) to such Lender hereunder or under any other Financing Document at such time in excess of its ratable share
(according to the proportion of (i) the amount of such Obligations owing to such Lender at such time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to all Lenders hereunder and/or under the other Financing
Documents at such time) of payments on account of the Obligations owing (but not due and payable) to all Lenders hereunder and/or under the other Financing Documents at such time obtained by all of the Lenders at such time, such Lender shall
forthwith purchase from the other Lenders such interests or participating interests in the Obligations due and payable or owing to them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment ratably
with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each other Lender shall be rescinded and such other Lender shall repay to
the purchasing Lender the purchase price to the extent of such Lender’s ratable share (according to the proportion of (i) the purchase price paid to such Lender to (ii) the aggregate purchase price paid to all Lenders) of such
recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (i) the amount of such other Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of
any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. The Company agrees that any Lender so purchasing an interest or participating interest from another Lender pursuant to this
Section 2.14 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such interest or participating interest, as the case may be, as fully as if such Lender were
the direct creditor of the Company in the amount of such interest or participating interest, as the case may be. 
 Section 2.15. Evidence of
Debt. 
 2.15.1. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of
the Company to such Lender resulting from each Advance owing to such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. The Company agrees that upon notice by any
Lender to the Company (with a copy of such notice to the Administrative Agent) to the effect that a promissory note or other evidence of indebtedness is required or appropriate in order for such Lender to evidence (whether for purposes of pledge,
enforcement or otherwise) the Advances owing to, or to be made by, such Lender, the Company shall promptly execute and deliver to such Lender, with a copy to the Administrative Agent, a Note in substantially the form of Exhibit 2.15 payable
to the order of such Lender in a principal amount equal to the Commitment of such Lender. All references to Notes in the Financing Documents shall mean Notes, if any, to the extent issued hereunder. 
 2.15.2. The Register maintained by the Administrative Agent pursuant to Section 16.2.4 shall include a control account ledger, and a
subsidiary account ledger for each Lender, in which account ledgers (taken together) shall be recorded (i) the date and amount of 

  

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each Advance made hereunder, (ii) the terms of each Assignment and Acceptance delivered to and accepted by it, (iii) the amount of any principal or
interest due and payable or to become due and payable from the Company to each Lender hereunder, and (iv) the amount of any sum received by the Administrative Agent from the Company hereunder and each Lender’s share thereof. 
 Entries made in good faith by the Administrative Agent in the Register pursuant to subsection (b) above, and by each Lender in its account or
accounts pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Company to, in the case of the Register, each Lender and, in the case of such
account or accounts, such Lender, under this Agreement, absent manifest error; provided, however, that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register
or such account or accounts shall not limit or otherwise affect the obligations of the Company under this Agreement. 
 ARTICLE III.

 CONDITIONS TO CLOSING 
 This Agreement, the Commitments, the obligations of the Lenders to fund each Advance hereunder shall not become effective, and the Effective Date shall not be deemed to have occurred, until the date on which each of the following conditions
is satisfied (or waived in accordance with Article XI hereof): 
 Section 3.1. Conditions to Closing and First Advance. In addition to the
conditions to each Advance specified in Section 3.2 below, the Effective Date shall not be deemed to have occurred, until each of the following conditions is satisfied (or waived in accordance with Article XI hereof): 

3.1.1. Operative Documents. Each of the Operative Documents shall have been executed and delivered by the Parties thereto, shall be in full
force and effect and no event of default or, to the knowledge of the Company, no default shall exist thereunder and the Administrative Lender shall have received copies of such Operative Documents certified by a Responsible Officer of the Company to
be correct and complete. 
 3.1.2. Certificates as to Resolutions, etc. The Administrative Lender shall have received a certificate of
a Responsible Officer of the managing member, board of directors, the general partner or other governing body of each Raser Entity setting forth (a) resolutions of its board of directors, managing member, general partner or other governing body
with respect to the authorization of such Person to execute and deliver the Financing Documents to which it is a party and to enter into the transactions contemplated in those documents, (b) the officers of such Raser Entity (i) who are
authorized to sign the Financing Documents to which such Raser Entity is a party and (ii) who will, until replaced by another officer or officers duly authorized for that purpose, act as its representative for the purposes of signing documents
and giving notices and other communications in connection with this Agreement and the transactions contemplated hereby, (c) specimen signatures of such authorized officers, and (d) the constitutive documents of such Raser Entity certified
as being true and complete. The Lenders may conclusively rely on 

  

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each such certificate from a Raser Entity until the Lenders receive notice in writing from such Raser Entity to the contrary. 
 3.1.3. Government Approvals. The Administrative Lender shall have received evidence that the Company has obtained all applicable Government
Approvals necessary for construction, ownership and operation of the Project and execution, delivery and performance of the Financing Documents and Operative Documents, including but not limited to, grant of Liens, environmental permits, site
leases, and licenses satisfactory in form and in substance to the Administrative Lender in its sole discretion. 
 3.1.4. Geothermal
Resource Analysis. The Administrative Lender shall have received a geothermal resource analysis issued by the Geothermal Engineer, which such analysis shall be satisfactory to the Administrative Lender in its sole discretion. 
 3.1.5. Title Insurance; Survey. The Administrative Lender shall have received a title opinion or certificate of title insurance and a plat of
survey in respect of the Facility Site in form and substance satisfactory to the Administrative Lender in its sole discretion. 
 3.1.6.
Independent Engineer Reports. The Administrative Lender shall have received the final reports of the Independent Engineer as to the Project, in form and with results satisfactory to the Administrative Lender in its sole discretion.

 3.1.7. Environmental Review. The Administrative Lender shall have received a copy of the environmental review or assessment of the
Facility Site in a form and with results satisfactory to the Administrative Lender in its sole discretion. 
 3.1.8. Consent to Service of
Process. The Administrative Lender shall have received evidence of the Company’s and each other Raser Entity’s appointment of an agent reasonably acceptable to the Administrative Lender to accept service of process in New York relating
to the Financing Documents governed by New York law. 
 3.1.9. Project Budget and Project Schedule. The Administrative Lender shall
have received a copy of the Project Budget and Project Schedule, all available work schedules provided for in the EPC Agreement, and a draw down schedule, all of which shall be satisfactory to the Administrative Lender in its sole discretion.

 3.1.10. Financial Information. The Administrative Lender shall have received evidence of the Company’s unaudited financial
statements (to the extent audited financial statements of the Company are not available) or opening balances for the most recent year ended and the most recent quarter ended or opening balances, as appropriate, (a) that are in accordance with
the books and records of the Company, which have been maintained in such manner as to permit the preparation of financial statements in accordance with GAAP; (b) have been prepared in conformity with GAAP, subject in the case of unaudited
financial statements only to year-end adjustments and the absence of footnote disclosures; and (c) fairly present in all material respects the financial condition and results of operation of the Company as of the date thereof and for the period
covered thereby. 
  

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 3.1.11. Recordation of all Security Instruments Required to be Recorded. (a) Any UCC
financing statements and other Security Instruments required to create, in favor of the Lenders and the Administrative Agent as security for the Obligations, a valid and perfected Lien on all of the Collateral described therein shall have been duly
executed, if necessary, and delivered to the Administrative Lender for filing or recording in all applicable jurisdictions and (b) the Administrative Lender shall have received UCC search certificates from the jurisdictions in which UCC
financing statements are to be filed pursuant to this Section 3.1.11 reflecting no other financing statements or filings which evidence Liens of other Persons in the Collateral which are prior to the Liens granted to the Collateral Agent
in this Agreement, the Security Instruments and the other Financing Documents, except for any such prior Liens (a) which are expressly permitted by this Agreement to be prior or (b) for which the Administrative Lender has received a
termination statement. 
 3.1.12. Payment of Fees and Expenses of the Transaction. The Lenders and the Administrative Agent shall have
received or shall receive simultaneously with Closing all fees and other amounts due and payable to the Lenders and the Administrative Agent on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all
out-of-pocket expenses required to be reimbursed or paid by the Company hereunder in full. 
 3.1.13. Due Diligence. The
Administrative Lender shall have completed its due diligence in respect of the Company and the Project (including, without limitation, due diligence related to corporate, legal, accounting, tax, environmental, engineering, insurance and technical
matters) with results satisfactory to the Administrative Lender in its sole discretion. 
 3.1.14. Litigation. The absence of material
litigation, arbitration or union issues related to the Project, the Company or the Obligations. 
 3.1.15. Insurance. The
Administrative Lender shall have received certificates of insurance and lender loss payable endorsements evidencing the Company’s compliance with Section 5.12 in form and substance satisfactory to the Administrative Lender in its
sole discretion. 
 3.1.16. Financial Modeling. The Administrative Lender shall be satisfied in its sole discretion with the Equity
Base Case Model. 
 3.1.17. Financing Documents. The Administrative Lender shall have received the following documents duly executed
by the Persons required to be a party thereto and each of the following documents shall be in full force and effect: (a) this Agreement, (b) the Security Instruments, (c) the Consents, and (d) all other Financing Documents
required herein or hereby to be delivered at the Closing Date, all of which shall be satisfactory to the Administrative Lender in its sole discretion. 
 3.1.18. Legal Opinions. The Administrative Lender and, with respect to subpart (i), the Administrative Agent shall have received (i) customary legal opinions from counsel to the Company regarding the
Project (including authorization, enforceability, perfection, permitting and capitalization matters) and (ii) a tax opinion from the Administrative Lender’s counsel regarding such aspects of the tax equity structure as requested by 

  

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Administrative Lender, all of which opinions shall be satisfactory to the Administrative Lender in its sole discretion. 
 3.1.19. Good Standing Certificates, etc. The Administrative Lender shall have received certificates of the appropriate governmental agencies with
respect to the existence, qualification and good standing of the Company. 
 3.1.20. Drilling. The Class B Investors shall have made
the initial Drilling Deposit in an amount equal to $7,106,000 to the Drilling Account as set forth in the Account and Security Agreement. 
 3.1.21. Class A Investors Contribution. Evidence satisfactory to the Administrative Lender that the Class A Investors shall have contributed $3,675,000 (representing the Effective Date Capital Contributions), which
contribution shall have been deposited in the Construction Account as set forth in the Account and Security Agreement. 
 3.1.22.
Additional Documents. Such other papers and documents regarding the Company or the Project as the Administrative Lender may reasonably require. 
 Section 3.2. Conditions to All Advances. In addition to the fulfillment of the conditions to the first Advance, it shall be a condition to each Advance (other than the initial Advance with respect to Section 3.2.1)
that each of the following shall have been satisfied or waived on or before the date of such Advance (as evidenced by a written acknowledgment of the Administrative Lender to the Administrative Agent): 
 3.2.1. Project Budget and Project Schedule Certifications. The Administrative Lender shall have received certification substantially in the form of
Exhibit 3.2.1 executed by the Independent Engineer. 
 3.2.2. Government Approvals. All applicable Government Approvals
necessary for construction, ownership and operation of the Project that are required to be obtained as of such date, environmental permits, site leases, and licenses shall be in full force and effect. 
 3.2.3. Litigation. The absence of material litigation, arbitration or union issues related to the Project, the Company or the Obligations.

 3.2.4. Representations and Warranties. The representations and warranties of the Company set forth in this Agreement and in the
other Financing Documents shall be true and correct in all material respects on and as of each Advance Date (except for representations and warranties expressly made as of a specified date, which shall be true and correct in all material respects as
of such date); provided that the Company shall be permitted to update such representations and warranties with respect to any Advance made under this Credit Agreement, after the initial Advance, to the extent such update has been disclosed in
writing by the Company to the Administrative Agent and the Administrative Lender and approved in writing by the Required Lenders. 
  

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 3.2.5. Receipt Permitted by Applicable Law, etc. On the Closing Date, (a) the Lenders’
receipt of the Notes shall (i) be permitted by the laws and regulations of each jurisdiction to which the Lenders are 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, (ii) 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 (iii) not subject the Lenders 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, and (b) no litigation by or
against Raser, the Company or any of their respective Affiliates shall be pending or threatened, which does or, with respect to any threatened litigation, seeks to, enjoin, prohibit or restrain, the making or repayment of any Advance or the
consummation of the transactions contemplated by any Financing Document. 
 3.2.6. Default. At the time of and immediately after
giving effect to the funding of the Advance, no Credit Agreement Default shall have occurred and be continuing. 
 3.2.7. Advance
Request. At least five (5) Business Days before the funding date for such Advance, the Administrative Agent shall have received a duly completed Advance Request. 
 3.2.8. Material Adverse Effect. At the time of and immediately after giving effect to the funding of the Advance, no event, development or circumstance shall have occurred or shall then exist that (a) has
resulted in, or could reasonably be expected to have, a Material Adverse Effect or (b) constitutes a material adverse change to the financial condition, business, properties, prospects or operations of any Material Project Party since the date
of this Agreement which could reasonably be expected to adversely affect the performance of such Material Project Party under any Operative Document. 
 3.2.9. Proceedings and Documents. All corporate, limited liability company, partnership, limited partnership and other organizational proceedings of the Company and the other Raser Entities in connection with
the transactions contemplated by this Agreement and the other Financing Documents and all documents and instruments incident to all such transactions shall be reasonably satisfactory to the Administrative Lender, and the Administrative Lender shall
have received all such counterpart originals or certified or other copies of such documents as the Lenders may request (such request to be made through the Administrative Lender or the Administrative Agent). 
 3.2.10. Work and Liens. All work that has been done on the Project has been done in a good and workmanlike manner and in accordance with the
EPC Agreement and there has not been filed with or served on or with respect to the Company or the Project notice of any Lien, claim of Lien or attachment upon or claim affecting the right to receive payment of any of the moneys payable to
any of the Persons named on such request which has not been released, other than Permitted Liens. To the extent required under the EPC Agreement, the Company shall have delivered to the Collateral Agent duly executed acknowledgments of
payments and releases of mechanics’ and materialmen’s liens, in form satisfactory to the Collateral Agent, from the Contractor and all other contractors, subcontractors and materialmen, for all work, 

  

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services and materials, including equipment or fixtures of any kind, previously performed or furnished for the Project. 
 3.2.11. Insurance Matters. If at the time of making the Advance a Casualty Event shall have occurred with respect to the Project, the Agents shall
have received insurance proceeds or money or other assurances reasonably satisfactory to the Administrative Lender, the Insurance Consultant and the Independent Engineer to assure restoration and the achievement of Facility Substantial Completion
before the Guaranteed Final Completion Date. 
 The submission by the Company to the Administrative Agent of each Advance Request shall be
deemed to be a representation and warranty by the Company as of the date thereof that: (i) the representations and warranties of the Company set forth in this Agreement and in the other Financing Documents shall be true and correct in all
material respects as of the date of such request (except for representations and warranties expressly made as of a specified date, which shall be true and correct in all material respects as of such date); (ii) no Credit Agreement Default has
occurred and is continuing, (iii) all of the Financing Documents and Operative Documents are in full force and effect, and (iv) no event, development or circumstance shall have occurred or shall then exist that has resulted in, or could
reasonably be expected to have, a Material Adverse Effect. The making of any Advance hereunder shall not be deemed an approval or acceptance by any Agent or Lender of any work, labor, supplies, materials or equipment furnished or supplied with
respect to the Project. 
 ARTICLE IV. 
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 The Company represents and warrants to the
Lenders and the Administrative Agent that: 
 Section 4.1. Organization; Powers. The Company is duly organized, validly existing and in good
standing under the laws of the State of Delaware, has all requisite power and authority, and has all material Government Approvals necessary to own its assets and to carry on its business as now conducted, and is qualified to do business in, and is
in good standing in, every jurisdiction where such qualification is required. 
 Section 4.2. Authority; Enforceability. The Transactions are
within the Company’s limited liability company powers and have been duly authorized by all necessary limited liability company action and, if required, member action (including, without limitation, any action required to be taken by any class
of members of the Company or any other Person, whether interested or disinterested, in order to ensure the due authorization of the Transactions). Each Financing Document to which the Company is a party and Operative Document to which the Company is
a party has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, as applicable, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity and public policy, regardless of whether considered in a proceeding in equity or at law. 
 Section 4.3. Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action
by, any Governmental Authority or 

  

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any other third Person (including members, partners directors or stockholders, whether interested or disinterested, of the Company or any other Person), nor
is any such consent, approval, registration, filing or other action necessary for the validity or enforceability of any Financing Document, Operative Document or the consummation of the Transactions contemplated thereby, except (i) such as have
been obtained or made and are in full force and effect, are not yet required to be obtained or could not reasonably be expected to have a Material Adverse Effect, and (ii) the recording and filing of the Security Instruments as required to
perfect the Collateral Agent’s Liens; (b) will not violate any Applicable Law or regulation or the Organizational Documents of the Company or any order of any Governmental Authority; (c) will not violate or result in a default under
any indenture, agreement or other instrument binding upon the Company or its Properties, or give rise to a right thereunder to require any payment to be made by the Company; and (d) will not result in the creation or imposition of any Lien on
any Property of the Company (other than the Liens created by the Financing Documents). 
 Section 4.4. Financial Condition; No Material Adverse
Effect. 
 4.4.1. The financial statements for the Company which have been delivered pursuant to either Section 3.1.10 or
Section 5.1 (a) are in accordance with the books and records of the Company, which have been maintained in such manner as to permit the preparation of financial statements in accordance with GAAP; (b) have been prepared in
conformity with GAAP, subject in the case of unaudited financial statements only to year-end adjustments and the absence of footnote disclosures; and (c) fairly present in all material respects the financial condition and results of operation
of the Company as of the date thereof and for the period covered thereby. 
 4.4.2. The Company has no material obligations or liabilities
that are not reflected in the financial statements that have been delivered to the Lenders. 
 4.4.3. Since December 31, 2007, there has
been no event, development or circumstance that has had or could reasonably be expected to have a Material Adverse Effect. 
 4.4.4. The
Company has not on the date hereof and on the date of each of the Advances incurred any Debt or any contingent liabilities, off-balance sheet liabilities or partnerships, liabilities for taxes, unusual forward or long-term commitments or unrealized
or anticipated losses from any unfavorable commitment, except as permitted by Section 6.1. 
 Section 4.5. Litigation and other Governmental
Proceedings. Except as set forth on Schedule 4.5, there are no actions, suits, investigations or proceedings by or before any arbitrator or Governmental Authority pending against or, to the best knowledge of the Company, threatened
against or affecting the Company (a) that could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, or (b) that involve any Financing Document, Operative Document or the Transactions. To the
best knowledge of the Company, there are no actions, suits, investigations or proceedings by or before any arbitrator or Governmental Authority pending or threatened against or affecting any Project Party that could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect. 
  

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 Section 4.6. Environmental Matters. 
 4.6.1. The Company and its Subsidiaries comply and at all times have complied with all Environmental Laws applicable to the operations associated with its
business, each of its owned or leased real properties, and each of the real properties formerly owned, operated and/or leased by it (each a “Former Real Property”); 
 4.6.2. The Company has obtained or has taken appropriate steps to obtain all environmental, health and safety permits, consents, licenses and other
authorizations necessary for the operation of its respective businesses and the ownership and/or operation of each real property leased, owned or operated by it as are required by Environmental Laws (collectively, “EHS Permits”),
all EHS Permits are in good standing, and the Company and its Subsidiaries are currently and have at all times been in compliance with all terms and conditions of EHS Permits. No material change in the facts or circumstances reported or assumed in
the applications for or the granting of the EHS Permits exists. There are no proceedings pending or, to the knowledge of the Company, threatened in writing which would jeopardize the validity of any of the EHS Permits; 
 4.6.3. The Company is not subject to any pending investigation or, to the knowledge of the Company, any investigation threatened in writing, or any
judicial or administrative proceeding, notice, order, judgment, decree or settlement, alleging or addressing in connection with the Company’s operations, its business, its real property or Former Real Property, (a) any violation of any
Environmental Laws, (b) any Remedial Work, (c) any liabilities and costs arising from a Release or threatened Release at its real property, Former Real Property or any other location, or (d) any liabilities and costs for personal
injury or threatened personal injury related to exposure to Hazardous Materials, or injury or threatened injury to property or natural resources related to the Release or disposal of Hazardous Materials; 
 4.6.4. None of the Company, any of its Subsidiaries or, to the knowledge of the Company, any other Person (provided that with respect to such
other person the Company has received written notice) has ever caused or allowed any Hazardous Material to be constructed, deposited, Released, stored, or disposed onto or underneath any real property owned, leased or operated by the Company, or
Former Real Property in violation of any applicable Environmental Laws or in a manner that could give rise to any remedial or corrective action by the Company or its Subsidiaries pursuant to applicable Environmental Laws; and 
 Section 4.7. Compliance with Laws and Agreements; Permits; No Credit Agreement Defaults. 
 4.7.1. The Company is in compliance with all Applicable Law applicable to it or its Property and all agreements and other instruments binding upon it or
its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its business other than where non-compliance or non-possession
could not reasonably be expected to have a Material Adverse Effect. 
 4.7.2. There are no permits under existing law as the Project is
currently designed that are or will become Governmental Approvals other than the permits described in 

  

 25 

 
Schedule 4.7. Each permit described in Schedule 4.7 is either (a) in full force and effect and is not subject to any appeals or further
proceedings or to any unsatisfied condition that may allow material modification or revocation, in the case of those permits listed in Part I of Schedule 4.7 or (b) of a type that is routinely granted on application and that would not
normally be obtained before the commencement of a construction or reconstruction in the case of those Permits listed in Part II of Schedule 4.7. The Company has no reason to believe that any material permit so indicated on Part II of
Schedule 4.7 will not be obtained before or at the time it becomes a Governmental Approval. 
 4.7.3. Each of the Project Parties
possesses all licenses, permits, franchise, patents, copyrights, trademarks and trade names, or rights thereto necessary to perform its duties under the Operative Documents to which it is a party and such Project Party is not in violation of any
valid rights of others with respect to any of the foregoing; provided that this representation shall be to the knowledge of the Company for all Project Parties other than the Company and the Raser Entities. 
 4.7.4. The Company is not in default nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the
giving of notice, or both, would constitute a default or would require the Company to Redeem or make any offer to Redeem under any indenture, note, credit agreement or instrument pursuant to which any Material Indebtedness is outstanding or by which
the Company or any of its Properties is bound, except where, in each case, such default or event or circumstance, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 4.7.5. No Credit Agreement Default or Credit Agreement Event of Default has occurred and is continuing. 
 Section 4.8. Investment Company Act. The Company is not an “investment company” or a company “controlled” by an “investment
company,” within the meaning of, or subject to regulation under, the Investment Company Act of 1940, as amended. 
 Section 4.9. Taxes. The
Company has timely filed or caused to be filed all Tax returns, reports, certifications and disclosures required to have been filed by it and all such filings are complete and accurate in all respects and has paid or caused to be paid all Taxes
required to have been paid by it, except Taxes that are being contested in good faith by appropriate proceedings and for which the Company has set aside on its books adequate reserves in accordance with GAAP. All other charges, accruals and reserves
on the books of the Company in respect of Taxes are, in the reasonable opinion of the Company, adequate. No Liens for Taxes have been filed against the Company and, to the knowledge of the Company, no claim is being asserted with respect to any such
Tax. No claim has been made against the Company by a tax authority in a jurisdiction where the Company does not file tax returns that the Company is or may be subject to taxes in such jurisdiction. 
 Section 4.10. ERISA. The Company does not have and does not employ any employees and has no plans to hire or employ any employees. The Company has not and
does not maintain any Plan. 
  

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 Section 4.11. Disclosure; No Material Misstatements. The Company has disclosed to each Lender all agreements,
instruments and corporate or other restrictions to which it is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. None of the other reports,
financial statements, certificates or other information furnished (other than financial projections and estimates) by or on behalf of the Company to any Lender or any of their Affiliates hereunder or under any other Financing Document (as modified
or supplemented by other information so furnished) taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were
made, not materially misleading. The Company has prepared the Project Budget and Project Schedule and the Equity Base Case Model and has developed in good faith the assumptions, projections and estimates on which the Project Budget and Project
Schedule and the Equity Base Case Model are based. The Project Budget and Project Schedule and the Equity Base Case Model (a) are, to the best of the Company’s knowledge as of the Effective Date and the date of each Advance, based on
reasonable assumptions, (b) are consistent with the Operative Documents and (c) indicate that the estimated Project Costs will not exceed funds available to pay Project Costs. As of the date hereof and the date of each Advance, there are
no material construction costs known to the Company that are not included in the Project Budget. 
 Section 4.12. Insurance. The Company has all
insurance policies required under Section 5.12 hereof. 
 Section 4.13. Restrictions on Liens. The Company is not a party to any
agreement or arrangement (other than Capital Leases creating Permitted Liens, but then only on the Property subject of such Capital Lease), or subject to any order, judgment, writ or decree, which, in each case, either restricts or purports to
restrict its ability to grant Liens to the Lenders on or in respect of its Properties to secure the Obligations and the Financing Documents. 
 Section 4.14. Equity Interests, etc. Set forth on Schedule 4.14 is a complete and accurate description of the authorized Equity Interests of the Company, by class, and, as of the Closing Date, a description of the number
of shares, interests, units or other Equity Interests of each such class that are issued and outstanding and the record owner or holder thereof. Other than as described on Schedule 4.14, there are no subscriptions, options, warrants, or calls
granted by the Company relating to any shares of any such Person’s Equity Interests, including any right of conversion or exchange under any outstanding security or other instrument. Except as otherwise set forth on Schedule 4.14, the
Company is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its Equity Interests or any security convertible into or exchangeable for any of its Equity Interests. All of the
outstanding Equity Interests of the Company have been validly issued and are fully paid and non-assessable. The Company has no Subsidiaries. 
 Section 4.15. Location of Business and Offices. The Company’s jurisdiction of organization, its name as listed in the public records of its jurisdiction of organization and its organizational identification number for such
jurisdiction is as set forth on Schedule 4.15 hereto (or, in each case, as set forth in a notice delivered to each Lender pursuant to Article XIV in accordance with Section 5.1.8. The Company’s principal place of
business and chief executive offices are located 

  

 27 

 
at the address specified in Article XIV (or as set forth in a notice delivered pursuant to Article XIV and Section 5.1.8).

 Section 4.16. Properties; Title, etc. 
 4.16.1. The Company has good, marketable and indefeasible title to the Project and all its Properties (including the Collateral), in each case, free and clear of all Liens except Permitted Liens. 
 4.16.2. All leases and agreements necessary for the conduct of the business of the Company are valid and subsisting, in full force and effect, and, to
the Company’s knowledge, no default or event or circumstance which with the giving of notice or the passage of time or both would give rise to a default under any such lease or leases exists. 
 4.16.3. The rights and Properties presently owned, leased or licensed by the Company including, without limitation, all easements and rights of way,
include all rights and Properties necessary to permit the Company to conduct its business in all material respects in the same manner as its business has been conducted prior to the date hereof and as contemplated to be conducted. 
 4.16.4. The Company owns, is licensed or otherwise has the right to use, all trademarks, tradenames, copyrights, patents and other Intellectual Property
material to its business, and the use thereof by the Company does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect. The Company either owns or has valid licenses or other rights to use all technical information used in its businesses as presently conducted, subject to the limitations contained in the agreements governing the use of the same, which
limitations are customary for companies engaged in the business similar to that of the Company. 
 Section 4.17. Maintenance of Properties. As of
the Closing Date, the Company represents and warrants that (a) the Properties of the Company have been maintained, operated and developed in a good and workmanlike manner and in conformity with all Applicable Laws in all material respects and
in conformity with the provisions of all contracts related to such Properties in all material respects and (b) all Property owned in whole or in part by the Company that are necessary to conduct normal operations of the Company are being
maintained in a state adequate to conduct such normal operations. As of any other date, the Company represents and warrants that the Company has complied with Section 5.9 in all respects. 
 Section 4.18. Access to Utilities, Roads, etc. All utility services necessary for the construction and the operation of the Project for its intended purposes
are or, prior to Final Completion, will be available at the Facility Site. All roads necessary for the construction and full utilization of the Project for its intended purpose under the Operative Documents have either been completed or the
necessary rights of way therefor have been acquired. All necessary easements, rights of way, agreements and other rights for the construction, interconnection and utilization of the interconnection lines have been acquired. 
  

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 Section 4.19. Use of Proceeds. 
 4.19.1. The Company shall use the proceeds of the Advances solely to pay Project Costs and Debt Service. 
 4.19.2. The Company is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of
Regulation T, U or X of the Board). No part of the proceeds of the Advances will be used, directly or indirectly, by the Company for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board (12 CFR 221), or
for the purpose of buying or carrying or trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of the Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of the
Board (12 CFR 220). Margin stock does not constitute any of the value of the consolidated assets of the Company and the Company does not have any present intention that margin stock will constitute any of the value of such assets. As used in this
Section 4.19.2, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 
 Section 4.20. Solvency. After giving effect to the transactions contemplated hereby, (a) the aggregate assets (after giving effect to amounts that could reasonably be received by reason of indemnity,
offset, insurance or any similar arrangement), at a fair valuation, of the Company, taken as a whole, will exceed the aggregate Debt of the Company on a consolidated basis, as the Debt becomes absolute and matures, (b) the Company will not have
incurred or intended to incur, and will not believe that it will incur, Debt beyond its ability to pay such Debt (after taking into account the timing and amounts of cash to be received by the Company and the amounts to be payable on or in respect
of its liabilities, and giving effect to amounts that could reasonably be received by reason of indemnity, offset, insurance or any similar arrangement) as such Debt becomes absolute and matures, and (c) the Company will not have (and will have
no reason to believe that it will have thereafter) unreasonably small capital for the conduct of its business. 
 Section 4.21. Labor Matters. No
labor dispute with the employees of the Company exists or, to the knowledge of the Company, is imminent. 
 Section 4.22. Operative Documents.
The Company has delivered true, correct and complete copies of all Operative Documents to the Administrative Agent. To the Company’s knowledge, as of the Closing Date, the representations and warranties of the other Project Parties contained in
the Operative Documents are true, correct and complete in all material respects. Other than those that can be reasonably expected to be commercially available when and as required, the services to be performed, the materials to be supplied and the
real property interests, and other rights granted pursuant to the Operative Documents (a) comprise all of the property interests necessary to secure any right material to the acquisition, leasing, development, construction, installation,
completion, operation and maintenance of the Project in accordance with all Applicable Law, all without reference to any propriety information not owned by the Company or available to the Company under the Operative Documents, (b) are
sufficient to enable the Project to be located, constructed and operated on the Facility Site, and (c) provide adequate ingress and egress for any reasonable purpose in connection with the construction and operation 

  

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of the Project under the Operative Documents. There are no material services, materials or rights required for the construction or operation of the Project
other than those held by the Company available under the Operative Documents. 
 Section 4.23. Foreign Asset Control Regulations, etc.

 4.23.1. The Company’s use of the proceeds of the Advances will not violate the Trading with the Enemy Act, as amended, or any of the
foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto. 
 4.23.2. The Company (a) is not a Person described or designated in the Specially Designated Nationals and Blocked Persons List of the Office of
Foreign Assets Control or in Section 1 of the Anti-Terrorism Order, or (b) does not engage in any dealings or transactions with any such Person. The Company is in compliance, in all material respects, with the USA Patriot Act. 

4.23.3. No part of the proceeds of the Advances will be used, directly or indirectly, by the Company for any payments to any governmental official or
employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United
States Foreign Corrupt Practices Act of 1977, as amended, assuming in all cases that such Act applies to the Company. 
 ARTICLE V. 

 AFFIRMATIVE COVENANTS 
 Until the Obligations have expired or been terminated and the principal of and accrued interest with respect to the Obligations and all fees payable hereunder and all other amounts payable under the Financing Documents shall have been paid
in full, the Company covenants and agrees with the Lenders that: 
 Section 5.1. Financial Statements; Other Reporting and Information
Requirements. The Company will furnish (or cause to be furnished) to the Administrative Agent (except as otherwise specified herein): 
 5.1.1. Annual Financial Statements. As soon as available, but in any event in accordance with then Applicable Law and not later than one hundred twenty (120) days after the end of each fiscal year of the Company, commencing with
the fiscal year ending December 31, 2008, the Company’s audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in
comparative form, the figures for the previous fiscal year, all reported on by Hein & Associates LLP or other independent public accountants of recognized national or regional standing (without a “going concern” or like
qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations
of the Company on a consolidated basis in accordance with GAAP consistently applied. 
  

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 5.1.2. Quarterly Financial Statements. As soon as available, but in any event in accordance with
then Applicable Law and not later than sixty (60) days after the end of each of the first three Fiscal Quarters of each fiscal year of the Company, the Company’s consolidated balance sheet and related statements of operations,
stockholders’ equity and cash flows as of the end of and for such Fiscal Quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the
case of the balance sheet, as of the end of) the previous fiscal year and for the relevant Annual Operating Plan and Budget, all certified by one of the Company’s Financial Officers as presenting fairly in all material respects the financial
condition and results of operations of the Company on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 
 5.1.3. Quarterly and Annual Compliance Certificate. Concurrently with any delivery of financial statements under Section 5.1.1 or
Section 5.1.2, a Compliance Certificate executed by a Financial Officer of the Company. 
 5.1.4. Monthly Reporting. As
soon as available, but in any event not later than thirty (30) days after the last day of each of month: 
 5.1.4.1. [RESERVED]

 5.1.4.2. Before each of the Facility Substantial Completion Date and the Final Completion Date, a report in respect of such
month executed by a Responsible Officer of the Company setting out in reasonable detail progress made against the schedule set forth in the Project Budget and Project Schedule, the reason for any material delays or cost overruns, and expenditure
against the Project Budget and Project Schedule, together with an explanation for any material deviations therefrom. 
 5.1.4.3. (i) By no later than thirty (30) days after the end of each month after the Final Completion Date, (A) a report documenting the operation and maintenance of the Project and the operating performance data of the
Project for such month with a comparison to the comparable period during the previous year, pursuant to the terms of the O&M Agreement and (B) an income statement of the Company on a consolidated basis in accordance with GAAP,
consistently applied, and (ii) by no later than sixty (60) days after the end of each Operating Year, an annual report, pursuant to the terms of the O&M Agreement. The Company will revise such reports to include additional
information that the Administrative Agent or Administrative Lender reasonably requests. 
 5.1.5. Quarterly Disbursement Request. Not
less than five (5) Business Days before each Quarterly Transfer Date, the Company shall deliver to the Administrative Agent a Quarterly Disbursement Request for the applicable quarterly transfers to be made under the Account and Security
Agreement; provided that the Company shall deliver concurrently to the Administrative Agent and Administrative Lender any Quarterly Disbursement Request for any quarter in which an Ordinary Cash Trap Period (as determined by the Company
in such Quarterly Disbursement Request) has been triggered and the Administrative Lender shall promptly notify each Lender of such occurrence. 
  

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 5.1.6. Other Accounting Reports. Promptly upon receipt thereof, a copy of each other report or
letter submitted to the Company by independent accountants in connection with any annual, interim or special audit made by them of the books of the Company, and a copy of any response by the Company, or the governing body of the Company, to such
letter or report. 
 5.1.7. Notice of Casualty Events or Other Mandatory Prepayment Events. Prompt written notice to the
Administrative Agent, and in any event within three (3) Business Days, after the occurrence of (a) any Casualty Event or the commencement of any action or proceeding that could reasonably be expected to result in a Casualty Event, or
(b) any other event that gives rise to mandatory prepayment obligations under Section 2.6. 
 5.1.8. Information
Regarding the Company. Prompt written notice (and in any event within thirty (30) days prior thereto) to the Administrative Agent and Collateral Agent of any change (a) in the Company’s corporate name or in any trade name used to
identify such Person in the conduct of its business or in the ownership of its Properties, (b) in the location of the Company’s chief executive office or principal place of business, (c) in the Company’s identity or corporate
structure or in the jurisdiction in which such Person is incorporated or formed, (d) in the Company’s jurisdiction of organization or such Person’s organizational identification number in such jurisdiction of organization, and
(e) in the Company’s federal taxpayer identification number. 
 5.1.9. Organizational Documents and Operative Documents.
Promptly, but in any event within five (5) Business Days after the execution thereof, deliver to the Administrative Lender, Administrative Agent and Collateral Agent copies of any Additional Operative Document or any amendment, modification or
supplement to any Additional Operative Document, Organizational Document of the Company or Operative Document. 
 5.1.10. Other
Information. Promptly upon the request of the Administrative Agent or the Administrative Lender, such other documents or information related to (a) the Company’s performance, financial or otherwise, or (b) the Project’s
performance as the Administrative Lender shall reasonably request. 
 5.1.11. Update of Representations and Warranties. On each of
(a) the date of delivery of the monthly financial statements pursuant to Section 5.1.4.3 prior to the Final Completion Date, (b) the Facility Substantial Completion Date, and (c) six months after the Final Completion Date,
in addition to any other requirements under the Financing Documents, the Company shall be deemed to represent and warrant as of such date that: (i) the representations and warranties of the Company set forth in this Agreement and in the other
Financing Documents shall be true and correct in all material respects as of the date of such submission or delivery (except for representations and warranties expressly made as of a specified date, which shall be true and correct in all material
respects as of such date); in each case as updated after the date of the initial Advance and disclosed by the Company to the Administrative Agent and the Administrative Lender in writing and approved in writing by the Required Lenders; (ii) no
Credit Agreement Default has occurred and is continuing, (iii) all of the Financing Documents and Operative Documents are in full force and effect, and (iv) no event, development or circumstance shall have occurred or shall then exist that
has resulted in, or could reasonably be expected to have, a Material Adverse Effect. 
  

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 Section 5.2. Debt Service Coverage Ratio and Project Capacity Factor Calculations. 
 5.2.1. The Company shall calculate and deliver to the Administrative Lender in the Quarterly Disbursement Request that corresponds with each Quarterly
Transfer Date, the calculation of the Historical DSCR and the Projected DSCR. The Administrative Lender may notify the Company in writing of any suggested corrections, changes or adjustments which should be made to such DSCR calculations. The
Company shall incorporate all such corrections, changes or adjustments as the Administrative Lender reasonably deems appropriate and consistent with the terms of this Agreement. The Administrative Lender’s reasonable determinations with respect
to these matters shall be final and binding on the Company absent manifest error. 
 5.2.2. The Historical DSCR for any measurement period
shall not be below the Minimum DSCR; provided, however, that solely for the purpose of compliance with this Section 5.2.2, Raser may elect to make an equity contribution to the Company by depositing such equity contribution
in the Revenue Account on or before such Quarterly Transfer Date and treat the net proceeds of such equity contribution as Gross Project Revenue received by the Company prior to the last day of the full Fiscal Quarter immediately preceding such
Quarterly Transfer Date for purposes of calculating the Historical DSCR and if, after giving effect thereto, the Company shall be in compliance with this Section 5.2.2, the Company shall be deemed to have satisfied the requirements of
this Section 5.2.2 as of the relevant dates of determination with the same effect as though no failure to comply with this Section 5.2.2 during such dates had occurred, and the applicable breach or default of
Section 7.3.1 which had occurred shall be deemed cured for all purposes of this Agreement; provided, further, that notwithstanding anything herein to the contrary, in no event shall the Company be entitled to avail itself
of the preceding proviso on more than three (3) occasions in the aggregate during the term of this Agreement, (a) more than twice during any period of eight (8) consecutive fiscal quarters, or (b) in consecutive fiscal quarters.
The Company’s cure right outlined above is only applicable to cure compliance with the requirements of this Section 5.2.2 and shall not be deemed Gross Project Revenue for any other purpose, including, but not limited to,
calculation of the Historical DSCR in the Distribution Conditions. 
 Section 5.3. Notice of Material Events. The Company will deliver to the
Administrative Agent and Administrative Lender written notice promptly (but in any event within five (5) Business Days) after the occurrence of any of the following: 
 5.3.1. the occurrence of any Credit Agreement Default or Credit Agreement Event of Default; 
 5.3.2. the
occurrence of any default or event of default under any loan, security purchase, financing, intercreditor or other agreement entered into in respect of any Debt in excess of $100,000 of the Company; 
 5.3.3. the filing or commencement of, or the threat in writing of, any action, suit, proceeding, investigation or arbitration by or before any arbitrator
or Governmental Authority against or affecting the Company or any Affiliate thereof not previously disclosed in writing to the Lenders or any material adverse development in any action, suit, proceeding, 

  

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investigation or arbitration (whether or not previously disclosed to the Lenders) that, in either case could reasonably be expected to result in liability in
excess of $1,000,000; 
 5.3.4. the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred,
could reasonably be expected to result in liability of the Company in an aggregate amount exceeding $1,000,000; 
 5.3.5. any other
development that results in, or could reasonably be expected to result in, a Material Adverse Effect; 
 5.3.6. the Contractor asserts in
writing that the Facility Substantial Completion Date or the Final Completion Date have occurred under the EPC Agreement or that the Facility Substantial Completion Date or Final Completion Date will be delayed beyond the date contemplated in
the EPC Agreement; 
 5.3.7. the Facility Substantial Completion Date; and 
 5.3.8. the Final Completion Date. 
 Each notice delivered
under this Section 5.3 shall be accompanied by a statement of a Responsible Officer of the Company setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect
thereto. 
 Section 5.4. Existence; Conduct of Business. The Company will do or cause to be done all things necessary to preserve, renew and keep
in full force and effect its legal existence and the material rights, licenses, permits, consents, privileges and franchises material to the conduct of its business and maintain its qualification to do business in each other jurisdiction in which
its Properties are located or the ownership of its Properties requires such qualification when the failure to be so qualified could reasonably be expected to have a Material Adverse Effect. 
 Section 5.5. Operative Documents. The Company will (a) observe and perform in all material respects all of the terms, covenants, conditions and
provisions of the Operative Documents to be observed and performed by it, (b) not do, permit or refrain from doing anything that could reasonably be expected to result in a default under or breach by the Company of any of the terms of any
Operative Document or give rise to a right by the counterparty to terminate or suspend such Operative Document, (c) give the Administrative Agent prompt written notice of any material breach of any obligation, or any default, by the Company, or
the knowledge of by the Company of any other party, under any Operative Document, and deliver to the Administrative Agent a copy of each notice of default, and (d) promptly enforce against the relevant counterparty each material term, covenant,
condition and provision of such Operative Document in accordance with its terms. 
 Section 5.6. Payment of Obligations. The Company will pay its
obligations, including Tax liabilities of the Company before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the Company has
set aside on its books adequate reserves with respect thereto in accordance with GAAP, and (c) the failure to make payment pending such contest could not reasonably be 

  

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expected to result in a Material Adverse Effect or result in the seizure or levy of any Property of the Company. 
 Section 5.7. Performance of Obligations under Financing Documents. The Company will pay the Obligations, and the Company will do and perform every act and
discharge all of the obligations to be performed and discharged by it under the Financing Documents, including, without limitation, this Agreement, at the time or times and in the manner specified. 
 Section 5.8. Project Construction. The Company will cause the Project to be constructed and completed substantially in accordance with the terms of the
EPC Agreement. 
 Section 5.9. Operation and Maintenance of Properties. The Company, at its own expense, shall: 
 5.9.1. maintain and operate all Property material to the conduct of its business or cause such Properties to be maintained and operated in a prudent and
efficient manner in accordance with the practices of the industry (including Prudent Practices, where applicable) and in compliance in all material respects with all applicable contracts and agreements and in compliance in all material respects with
all Applicable Laws, including, without limitation, applicable pro ration requirements and Environmental Laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the business of the Company.

 5.9.2. keep and maintain or cause to be kept and maintained all Property material to the conduct of its business in good working order and
condition (ordinary wear and tear excepted), preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its other material Properties, including, without limitation, all equipment, machinery and
facilities. 
 5.9.3. maintain or cause to be kept and maintained an adequate supply of spare parts and maintenance equipment as required to
maintain the Project in accordance with Prudent Practices. 
 Section 5.10. QF Status. The Project is a Qualifying Facility eligible for the
exemptions set forth in 18 C.F.R. Part 292, Subpart F and the Company has filed a valid certification with FERC that the Project is a Qualifying Facility. The Company will take or cause to be taken all necessary or appropriate actions so that on and
after the first date of delivery of electrical energy to any other Person, the Project is, and will at all times while any Obligations remain outstanding maintain its status as, a Qualifying Facility eligible for the exemptions set forth in 18
C.F.R. Part 292, Subpart F, unless a Change in Law would cause the Project to lose its status as a Qualifying Facility without resulting in a Material Adverse Effect and the Company is not able to requalify the Project as a Qualifying Facility.

 Section 5.11. Annual Operating Plan and Budget. Not later than ten (10) days prior to the commencement of any Operating Year, the Company
shall deliver to the Administrative Agent and the Administrative Lender an Annual Operating Plan and Budget as prepared in accordance with the O&M Agreement and such Annual Operating Plan and Budget shall have been approved (such approval
not to be unreasonably withheld, conditioned, or delayed) by the Administrative Lender, in consultation with the Independent Engineer. 
  

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 Section 5.12. Insurance. The Company will have all insurance policies sufficient for the compliance by it
with all material Applicable Laws and all material agreements, but in no event less than the limits and coverage provisions set forth in Schedule 5.12 hereto unless otherwise waived by the Required Lenders on the advice of the Insurance
Consultant. The Company shall ensure that the Agents and the Lenders are listed as additional insureds on all liability policies except workers compensation and professional liability and are listed as additional insureds and that the Collateral
Agent is endorsed as first loss payee on the Builders Risk and Transit policy and sole loss payee on the Delay in Start Up during construction and then as sole loss payee under the operational first party insurance policies (including without
limitation Property All Risk and Business Interruption procured in connection with the Project). In addition, the Company shall ensure that each policy of insurance required hereunder and all endorsements to such policies shall require the insurer
to give not less than thirty (30) days prior written notice to the Administrative Agent and Collateral Agent, on behalf of each Lender, in the event of cancellation, non-renewal or material alteration of the policy for any reason. On an annual
basis and not more than 10 Business Days following each policy’s anniversary, the Company shall furnish the Administrative Agent and Collateral Agent with a reasonably detailed certification of all required insurance held by the Company. Such
certification shall be executed by each insurer or by an authorized representative of each insurer where it is not practical for such insurer to execute the certificate itself. 
 Section 5.13. Books and Records; Inspection Rights. The Company will keep proper books of record and account in accordance with generally accepted accounting practices. The Company will permit a
representative designated by the Administrative Lender, the Agents or the Required Lenders, upon at least five (5) Business Day’ prior written notice (made through the Administrative Lender) prior to the occurrence and continuance of a
Credit Agreement Event of Default, full and free access during normal business hours to all the books, correspondence and records of the Company, and the Administrative Lender, the Agents, the Required Lenders or their representatives may examine
the same, take extracts therefrom and make photocopies thereof (subject to confidentiality requirements as provided herein), and the Company agrees to render to the Administrative Lender, the Agents or the Required Lenders or their designated
representatives such clerical and other assistance as may be reasonably requested with regard thereto. The representative designated by the Agents, Administrative Lender or the Required Lenders (which may include one or more Lenders) shall at all
reasonable times and upon not less than five (5) Business Days’ prior written notice (made through the Administrative Lender) prior to the occurrence and continuance of a Credit Agreement Event of Default also have the right to enter any
premises of the Company and inspect any Property of the Company and to discuss its affairs, finances and conditions with its officers and independent accountants; provided that any such inspections shall only be conducted no more than two
times per year prior to the occurrence and continuance of a Credit Agreement Event of Default. 
 Section 5.14. Compliance with Laws. The Company
will comply with all Applicable Laws (including ERISA, USA Patriot Act, and Environmental Laws) in all material respects. 
 Section 5.15.
Environmental Matters. 
 5.15.1. The Company shall at its sole expense: (a) comply, and shall cause its Properties and operations
to comply, with all applicable Environmental Laws, (b) not dispose of 

  

 36 

 
or otherwise Release any Hazardous Material on, under, about or emanating from any of the Company’s Properties or any other Property to the extent
caused by the Company’s operations except in compliance with applicable Environmental Laws; (c) timely obtain or file all notices, permits, or other authorizations and associated renewals, if any, required under applicable Environmental
Laws to be obtained or filed in connection with the operation or use of the Company’s Properties, (d) promptly commence and diligently prosecute to completion any assessment, evaluation, investigation, monitoring, containment, cleanup,
removal, repair, restoration, remediation or other remedial obligations (collectively, the “Remedial Work”) in the event any Remedial Work is required by any Governmental Authority to be performed by the Company under applicable
Environmental Laws in connection with any Property of the Company; and (e) establish and implement such procedures as may be necessary to continuously determine and assure that the Company’s obligations under this
Section 5.15.1 are timely and fully satisfied. 
 5.15.2. The Company will promptly, but in no event later than five
(5) Business Days after the occurrence of a triggering event, notify the Administrative Agent and the Administrative Lender in writing of any threatened action, investigation or inquiry made in writing by any Governmental Authority or any
threatened demand or lawsuit made in writing by any landowner or other third party against the Company or their respective applicable Properties, in each case of which the Company has knowledge in connection with any Environmental Laws (excluding
routine testing and corrective action) if the Company reasonably anticipates that such action will result in liability (whether individually or in the aggregate) in excess of $250,000. 
 Section 5.16. ERISA Compliance. The Company will promptly furnish and will cause any ERISA Affiliate to promptly furnish to each Lender (a) promptly after the filing thereof with the United States
Secretary of Labor, the Internal Revenue Service or the PBGC, copies of each annual and other report with respect to each Plan or any trust created thereunder, (b) immediately upon becoming aware of the occurrence of any ERISA Event or of any
“prohibited transaction,” as described in section 406 of ERISA or in section 4975 of the Code, in connection with any Plan or any trust created thereunder, in each case, such as is reasonably likely to result in a material liability to the
Company, a written notice specifying the nature thereof, what action the Company or such ERISA Affiliate is taking or proposes to take with respect thereto, and, when known, any action taken or proposed by the Internal Revenue Service, the
Department of Labor or the PBGC with respect thereto, and (c) immediately upon receipt thereof, copies of any notice of the PBGC’s intention to terminate or to have a trustee appointed to administer any Plan. With respect to each Plan
(other than a Multiemployer Plan), the Company will, and will cause each ERISA Affiliate to, (i) satisfy in full and in a timely manner, without incurring any late payment or underpayment charge or penalty and without giving rise to any lien,
all of the contribution and funding requirements of section 412 of the Code (determined without regard to subsection (c) thereof) and of section 302 of ERISA (determined without regard to subsection (c) thereof), and (ii) pay, or
cause to be paid, to the PBGC in a timely manner, without incurring any late payment or underpayment charge or penalty, all premiums required pursuant to sections 4006 and 4007 of ERISA. 
 Section 5.17. Senior Status. The Company shall ensure that the Obligations shall be senior to all of the other Debt of the Company, other than in respect of Debt permitted by the terms hereof to be senior
or pari passu with to the Obligations. 
  

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 Section 5.18. Further Assurances. 
 5.18.1. The Company at its sole expense will promptly execute and deliver to the Agents all such other documents, agreements, Financing Statements,
continuation statements and amendments thereto, and instruments reasonably requested by the Agents to comply with, cure any defects or accomplish the conditions precedent, covenants and agreements of the Company, as the case may be, in the Financing
Documents or to further evidence and more fully describe the Collateral intended as security for the Obligations, or to correct any omissions in this Agreement or the Security Instruments, or to state more fully the obligations secured therein, or
to perfect, protect or preserve any Liens created pursuant to this Agreement or any of the Security Instruments or the priority thereof, or to make any recordings, file any notices or obtain any consents, all as may be required by law or reasonably
necessary or appropriate, in the sole discretion of the Agents, in connection therewith. 
 5.18.2. The Company hereby authorizes the Agents
to file one or more financing or continuation statements, and amendments thereto, relative to all or any part of the Collateral covered by the Security Instruments without the signature of the Company where permitted by law; provided,
however, that the Company shall always have the primary obligation to make such filings. A carbon, photographic or other reproduction of the Security Instruments or any financing statement covering such Collateral or any part thereof shall be
sufficient as a financing statement where permitted by law. 
 Section 5.19. Completion; Performance Tests. The Company shall deliver to the
Administrative Agent and the Administrative Lender copies of (a) each of the notices required to be delivered by the Company under the EPC Agreement and (b) each of the notices delivered to the Company under the EPC
Agreement. 
 ARTICLE VI. 
 NEGATIVE COVENANTS 
 Until the Commitments have expired or been terminated and the principal of and interest on the
Obligations and all fees payable hereunder and all other amounts payable under the Financing Documents have been paid in full, the Company covenants and agrees with the Lenders and the Agents that: 
 Section 6.1. Debt. The Company will not incur, create, assume or suffer to exist any Debt, except: 
 6.1.1. The Obligations. 
 6.1.2. Accounts
payable and accrued expenses, liabilities or other obligations to pay the deferred purchase price of Property or services, from time to time incurred in the ordinary course of business which are not greater than ninety (90) days past the due
date of invoice or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP. 
  

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 6.1.3. Debt associated with bonds or surety obligations required by Applicable Laws or Operative
Documents in connection with the operation of the Properties of the Company in an aggregate amount not to exceed $100,000. 
 6.1.4.
Endorsements of negotiable instruments for collection in the ordinary course of business. 
 6.1.5. Debt expressly permitted by the Annual
Operating Plan and Budget. 
 6.1.6. [RESERVED] 
 6.1.7. Unsecured intercompany Debt plus any Capital Leases not to exceed $250,000 (in the aggregate) which, in the case of the intercompany Debt, has been subordinated to the Obligations in form and substance
satisfactory to the Administrative Lender. 
 Section 6.2. Liens. The Company will not create, incur, assume or permit to exist any Lien on any
of its Properties (now owned or hereafter acquired), except: 
 6.2.1. Liens securing the payment of the Obligations arising under the
Financing Documents; and 
 6.2.2. Excepted Liens. 
 The Liens permitted under this Section 6.2 shall be referred to herein as the “Permitted Liens.” 
 Section 6.3.
Restricted Payments, etc. The Company will not declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, return any capital to its stockholders or make any distribution of its Property to its Equity Interest
holders, except (a) the Company may declare and pay dividends with respect to its Equity Interests payable solely in additional shares of its Equity Interests (other than Disqualified Capital Stock) to the holders of such existing Equity
Interests, (b) the Company may make payments from the Distribution Account if no Credit Agreement Default or Credit Agreement Event of Default is continuing and the Distribution Conditions have been satisfied, (c) the Company may pay the
Management Fee payable under the LLC Operating Agreement if no Credit Agreement Default or Credit Agreement Event of Default is continuing, and (d) the Company may make payments as provided in the Account and Security Agreement.

 Section 6.4. Investments, Loans and Advances. The Company will not make or permit to remain outstanding any Investments in or to any Person,
except that the foregoing restriction shall not apply to: 
 6.4.1. accounts receivable arising in the ordinary course of business;

 6.4.2. Cash Equivalent Investments; and 
 6.4.3. advances of expenses to employees in the ordinary course of business not to exceed $100,000 in the aggregate outstanding at any time. 
  

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 Section 6.5. Nature of Business. The Company will not engage in any business other than the development,
construction, ownership, operation and maintenance of the Project. 
 Section 6.6. Receivables. The Company will not amend, modify, terminate or
waive any provision of any (a) Receivable in any manner which could reasonably be expected to have a Material Adverse Effect without the consent of the Required Lenders, or (b) Material Receivable in any manner which could reasonably be
expected to have a material adverse effect on the value of such Material Receivable without the consent of the Administrative Lender. Following and during the continuance of a Credit Agreement Event of Default, the Company will not (w) grant
any extension or renewal of the time of payment of any Receivable, (x) compromise or settle any dispute, claim or legal proceeding with respect to any Receivable for less than the total unpaid balance thereof, (y) release, wholly or
partially, any Person liable for the payment thereof or (z) allow any credit or discount thereon, in each case without the consent of the Required Lenders. 
 Section 6.7. Prepayments. The Company will not: 
 6.7.1. optionally prepay, redeem, defease, purchase, or otherwise
acquire any Debt of the Company, other than the Obligations in accordance with this Agreement; or 
 6.7.2. make any payment on account of
Debt that has been contractually subordinated in right of payment to the Obligations if such payment is not permitted at such time under the subordination terms and conditions. 
 Section 6.8. Proceeds of the Advances. The Company will not permit the proceeds of the Advances to be used for any purpose other than those permitted by Section 4.19. Neither the Company nor
any Person acting on behalf of the Company has taken or will take any action which might cause any of the Financing Documents to violate Regulations T, U or X or any other regulation of the Board or to violate Article VII of the Securities Exchange
Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect. If requested by the Administrative Lender, the Company will furnish to each Lender a statement to the foregoing effect in
conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be. 
 Section 6.9. ERISA Compliance. The Company will not, at any time, where, singly or cumulatively, the following event or events could reasonably be expected to result in a Material Adverse Effect: 
 6.9.1. Engage in, or permit any ERISA Affiliate to engage in, any transaction in connection with which the Company or any ERISA Affiliate could be
subjected to either a civil penalty assessed pursuant to subsections (c), (i) or (l) of section 502 of ERISA or a tax imposed by Chapter 43 of Subtitle D of the Code. 
 6.9.2. Terminate, or permit any ERISA Affiliate to terminate, any Plan in a manner, or take any other action with respect to any Plan, which could result
in any liability of the Company or any ERISA Affiliate to the PBGC. 
  

 40 

 6.9.3. Fail to make, or permit any ERISA Affiliate to fail to make, full payment when due of all amounts
which, under the provisions of any Plan, agreement relating thereto or Applicable Laws, the Company or any ERISA Affiliate is required to pay as contributions thereto. 
 6.9.4. Permit to exist, or allow any ERISA Affiliate to permit to exist, whether or not waived, with respect to any Plan, any shortfall in the Minimum Funding Standard requirements within the meaning of section 302 of
ERISA or section 412 of the Code. 
 6.9.5. Permit, or allow any ERISA Affiliate to permit, the actuarial present value of the benefit
liabilities under any Plan maintained by the Company or any ERISA Affiliate which is regulated under Title IV of ERISA to exceed the current value of the assets (computed on a plan termination basis in accordance with Title IV of ERISA) of such Plan
allocable to such benefit liabilities. The term “actuarial present value of the benefit liabilities” shall have the meaning specified in section 4041 of ERISA. 
 6.9.6. Contribute to or assume an obligation to contribute to, or permit any ERISA Affiliate to contribute to or assume an obligation to contribute to, any Multiemployer Plan. 
 6.9.7. Acquire, or permit any ERISA Affiliate to acquire, an interest in any Person that causes such Person to become an ERISA Affiliate with respect to
the Company or with respect to any ERISA Affiliate of the Company if such Person sponsors, maintains or contributes to, or at any time in the six year period preceding such acquisition has sponsored, maintained, or contributed to (a) any
Multiemployer Plan, or (b) any other Plan that is subject to Title IV of ERISA under which the actuarial present value of the benefit liabilities under such Plan exceeds the current value of the assets (computed on a plan termination basis in
accordance with Title IV of ERISA) of such Plan allocable to such benefit liabilities. 
 6.9.8. Incur, or permit any ERISA Affiliate to
incur, a liability to or on account of a Plan under sections 515, 4062, 4063, 4064, 4201 or 4204 of ERISA. 
 6.9.9. Contribute to or assume
an obligation to contribute to, or permit any ERISA Affiliate to contribute to or assume an obligation to contribute to, any employee welfare benefit plan, as defined in section 3(1) of ERISA, including, without limitation, any such plan maintained
to provide benefits to former employees of such entities, that may not be terminated by such entities in their sole discretion at any time without any material liability other than health plan continuation coverage required by federal, state or
local law. 
 Section 6.10. Mergers, etc. The Company will not merge into or with or consolidate with any other Person, or permit any other
Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or any substantial portion of its Property to any other Person (whether now owned or
hereafter acquired), or liquidate or dissolve. 
 Section 6.11. [RESERVED]. 
  

 41 

 Section 6.12. Terrorism Sanctions Regulations. The Company will not become a Person described or designated
in the Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of the Anti-Terrorism Order or knowingly engage in any dealings or transactions with any such Person. 
 Section 6.13. Negative Pledge Agreements. The Company will not create, incur, assume or suffer to exist any contract, agreement or understanding (other than
this Agreement or the Security Instruments or with respect to Permitted Liens) which in any way prohibits or restricts (a) the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Lenders, or which
requires the consent of or notice to other Persons in connection therewith, (b) the entry into Operative Documents, Additional Operative Documents, the Financing Documents or the amendment or waiver of any of the foregoing, (c) the sale or
transfer of any of its Property, (d) the incurrence of Debt or the amendment or waiver thereof, or (e) the declaration or making of any Restricted Payment. 
 Section 6.14. Transactions with Affiliates. Except for the Operative Documents or as disclosed on Schedule 6.14, the Company will not enter into any transaction, including, without limitation, any
purchase, sale, lease or exchange of Property or the rendering of any service, with any Affiliate unless such transactions are otherwise permitted under this Agreement and are upon fair and reasonable terms no less favorable to it than it would
obtain in a comparable arm’s length transaction with a Person not an Affiliate. 
 Section 6.15. [RESERVED]. 
 Section 6.16. Amendment, etc. of Operative Documents. Except as permitted by Section 6.6, the Company will not suspend, cancel or terminate any
Operative Document or consent to or accept any cancellation, suspension or termination thereof, amend, modify or change in any manner any term or condition of an Operative Document or give any consent, waiver or approval thereunder, waive any
default under or any breach of any term or condition of an Operative Document or in connection with an Operative Document, sell, assign or otherwise dispose of (by operation of law or otherwise) any of its interests under the Operative Documents or
initiate any legal or arbitral proceedings in respect of any of the Operative Documents without the approval of the Required Lenders, such approval not to be unreasonably withheld, conditioned or delayed. The Company shall not enter into any
Additional Operative Document without the approval of the Administrative Lender, such approval not to be unreasonably withheld, conditioned or delayed. 
 Section 6.17. Amendment of Organizational Documents. The Company will not, without the prior written consent of the Administrative Lender, amend, modify or otherwise change its Organizational Documents, as applicable, including,
without limitation, entering into any new agreement with respect to any of its Equity Interests, except for amendments, modifications or other changes that do not affect the rights and privileges of the Company and do not affect the ability of the
Company to amend, modify, renew or supplement the terms of this Agreement or any of the other Financing Documents, or otherwise affect the interests of the Agents and so long as at the time of any such amendment, modification or change, no Credit
Agreement Event of Default shall exist or have occurred and be continuing. 
  

 42 

 Section 6.18. Foreign Assets Control Regulations, etc. 
 6.18.1. The Company’s use of the proceeds of the Advances will not violate the Trading with the Enemy Act, as amended, or any of the foreign assets
control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto. 
 6.18.2. The Company shall not engage in any dealings or transactions with any such Person. The Company shall comply, in all material respects, with the USA Patriot Act. 
 6.18.3. No part of the proceeds of the Advances will be used, directly or indirectly, by the Company for any payments to any governmental official or
employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United
States Foreign Corrupt Practices Act of 1977, as amended. 
 Section 6.19. No Employees. The Company will not, at any time, have, hire or employ
any employees. 
 Section 6.20. Change of Control. The Company will not create, incur, assume or suffer to exist any material contract, agreement
or understanding (other than this Agreement, the Security Instruments and the documents listed on Schedule 6.20) wherein a Change of Control of the Company will result in the right of the counterparty to amend, modify, terminate, accelerate
or change the terms of such contract, agreement or understanding. 
 Section 6.21. Asset Dispositions. Other than as expressly provided for in
Article XI of the Account and Security Agreement with respect to Released Assets, the Company will not directly or indirectly, sell, lease, convey, transfer, lease, assign or otherwise dispose of any Property, whether now owned or
hereafter acquired, or enter into any agreement to do any of the foregoing, except for sales or other dispositions by the Company of surplus, damaged, worn or obsolete equipment in the ordinary course of its business; provided that, to the
extent such equipment constituted Collateral, the net proceeds thereof shall be reinvested in Property owned (or to be owned) by the Company having a fair market value at least equal to the amount of such net proceeds and any Property purchased with
such net proceeds shall be mortgaged or pledged, as the case may be, to the Collateral Agent, for the benefit of the Agents and the Lenders, in accordance with the Account and Security Agreement. 
 ARTICLE VII.  
 CREDIT
AGREEMENT EVENTS OF DEFAULT 
 One or more of the following events shall constitute a “Credit Agreement Event of
Default” hereunder: 
 Section 7.1. Failure to Make Payments. 
 7.1.1. The Company shall fail to pay any principal of any Advance when and as the same shall become due and payable, whether at the due date thereof or at
a date fixed for prepayment thereof, by acceleration or otherwise. 
  

 43 

 7.1.2. The Company shall fail to pay any interest on any Obligation or any fee or any other amount (other
than an amount referred to in Section 7.1.1) payable under any Financing Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days. 
 Section 7.2. Misstatements. Any representation or warranty made by or on behalf of the Company in or in connection with any Financing Document or any
amendment or modification of any Financing Document or waiver under such Financing Document, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Financing Document or any amendment or
modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made and is not capable of being corrected or, if capable of being corrected and if such correction is being sought diligently, such
misrepresentation is not corrected within thirty (30) days after the Company becoming aware thereof. 
 Section 7.3. Breach of Terms of
Agreement or Breach of other Financing Documents. 
 7.3.1. The Company shall fail to observe or perform any covenant, condition or
agreement contained in Section 5.2.2, Section 5.3, Section 5.5(c) and (d), Section 5.8, Section 5.11, Section 5.15.2, Section 5.17, Section 6.1,
Section 6.2, Section 6.3, Section 6.4, Section 6.5, Section 6.6, Section 6.7, Section 6.8, Section 6.10, Section 6.12,
Section 6.13, Section 6.14, Section 6.16, Section 6.17, or Section 6.20. 
 7.3.2. The Company shall fail to observe or perform any covenant, condition or agreement contained in (a) Section 5.2.1, and such failure, if capable of being remedied, shall continue unremedied for a period of three
(3) Business Days or (b) in Section 5.4, or Section 5.5(a) and (b), and such failure, if capable of being remedied, shall continue unremedied for a period of fifteen (15) days after, in each case, the earlier
to occur of (x) written notice thereof from any Lender to the Company or (y) a Responsible Officer of the Company otherwise becomes aware of such failure. 
 7.3.3. The Company shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in Section 7.1.1, Section 7.1.2,
Section 7.3.1, Section 7.3.2, or Section 7.4) or any other Financing Document, and such failure, if capable of being remedied, shall continue unremedied for a period of thirty (30) days after the earlier to
occur of (a) written notice thereof from any Lender to the Company or (b) a Responsible Officer of the Company (i) with reasonable inquiry, should have become aware of such failure or (ii) otherwise becomes aware of such failure;
provided, however, that if such failure cannot by its nature be cured within the thirty (30) day period or cannot after diligent attempts by the Company be cured within such thirty (30) day period, and such failure has not
caused and could not reasonably be expected to cause a Material Adverse Effect during such period and is capable of being cured within a reasonable time, then the Company shall have an additional reasonable period (which shall not in any case exceed
sixty (60) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed a Credit Agreement Event of Default unless during such period, the Company shall cease to be
diligently pursuing such cure or such failure causes a Material Adverse Effect or could reasonably be expected to cause a Material Adverse Effect. 
  

 44 

 Section 7.4. Financing Documents. (a) The Financing Documents after delivery thereof shall for any
reason, except to the extent permitted by the terms thereof, cease to be in full force and effect and valid, binding and enforceable in accordance with their terms against the Company that is party thereto or shall be repudiated by any of them, or
cease to create a valid and perfected Lien of the priority required thereby on any of the Collateral purported to be covered thereby, except to the extent permitted by the terms of this Agreement, or (b) the Company or any of its Affiliates
shall make a written statement to the effect of any matter described in clause (a). 
 Section 7.5. Material Indebtedness. 
 7.5.1. The Company shall fail to make any payment of an amount in excess of $100,000 (whether of principal or interest or other amount) in respect of any
Material Indebtedness, when and as the same shall become due and payable, and such failure shall continue beyond any applicable grace period. 
 7.5.2. Any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders
of such Material Indebtedness or any trustee or agent on its or their behalf to cause such Material Indebtedness to become due, or to require the Redemption thereof or any offer to Redeem to be made in respect thereof, prior to its scheduled
maturity or require the Company to make an offer in respect thereof. 
 Section 7.6. Bankruptcy; Insolvency. 
 7.6.1. An involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (a) liquidation, reorganization or other relief
in respect of the Company or the Company’s debts, or of a substantial part of the Company’s assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, or (b) the
appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Company or for a substantial part of the Company’s assets, and, in any such case, such proceeding or petition shall continue undismissed for
forty-five (45) days or an order or decree approving or ordering any of the foregoing shall be entered. 
 7.6.2. The Company shall
(a) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(b) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in Section 7.6.1, (c) apply for or consent to the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for the Company or for a substantial part of the Company’s assets, (d) file an answer admitting the material allegations of a petition filed against the Company in any such proceeding,
(e) make a general assignment for the benefit of creditors, or (f) take any action for the purpose of effecting any of the foregoing. 
 7.6.3. The Company shall fail generally to pay its debts as they become due or shall admit in writing its inability to pay its debts generally as they become due. 
 7.6.4. An involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (a) liquidation, reorganization or other
relief in respect of Anaheim 

  

 45 

 
or, prior to Final Completion, the Contractor (Anaheim and Contractor together referred to in this Section 7.6 as the “Subject”) or the
Subject’s debts, or of a substantial part of the Subject’s assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, or (b) the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Subject or for a substantial part of the Subject’s assets, and, in any such case, such proceeding or petition shall continue undismissed for forty-five (45) days or an order
or decree approving or ordering any of the foregoing shall be entered. 
 7.6.5. The Subject shall (a) voluntarily commence any
proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (b) consent to the institution of, or fail
to contest in a timely and appropriate manner, any proceeding or petition described in Section 7.6.1, (c) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for
the Subject or for a substantial part of the Subject’s assets, (d) file an answer admitting the material allegations of a petition filed against the Subject in any such proceeding, (e) make a general assignment for the benefit of
creditors, or (f) take any action for the purpose of effecting any of the foregoing. 
 Section 7.7. Judgments. (a) One or more
judgments for the payment of money in an aggregate amount in excess of $250,000 for which the Company is not insured, or (b) one or more non-monetary judgments that have, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect, in the case of the foregoing clauses (a) or (b), shall be rendered against the Company and the same shall remain undischarged for a period of forty-five (45) consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Company to enforce any such judgment which enforcement has not been effectively stayed. 
 Section 7.8. ERISA. An ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events that
have occurred, could reasonably be expected to result in liability of the Company in an aggregate amount exceeding (a) $250,000 in any year or (b) $500,000 for all periods. 
 Section 7.9. [RESERVED] 
 Section 7.10. Loss of Qualifying Facility Status or Government Approvals.
The revocation, termination, withdrawal of the Project’s status as a Qualifying Facility or any Governmental Approval required for the ownership, construction or operation of the Project, which revocation, termination or withdrawal is
reasonably likely to result in a Material Adverse Effect. 
 Section 7.11. Facility Substantial Completion. The Facility Substantial Completion
Date shall not have occurred before the Guaranteed Final Completion Date or as such date may be extended upon the occurrence of a Force Majeure Event in accordance with Article XI of the EPC Agreement. 
 Section 7.12. [RESERVED.] 
 Section 7.13. Default in
Operative Documents. (a) Any Material Project Party or the Company shall default in the payment when due of any payment or payments payable pursuant to any 

  

 46 

 
Operative Document and such default shall continue unremedied for the cure period provided therein, if any, or (b) any Project Party or the Company
shall default in the performance of any of its other obligations or any representation made in any Operative Document to which it is a party shall prove to have been inaccurate when made and such default or inaccuracy shall continue unremedied for
the cure period as is provided, if any, in the Operative Document in question and such default or inaccuracy in the case of (a) and (b) above has had, or could reasonably be expected to have, a Material Adverse Effect. 
 Section 7.14. Invalidity of Operative Documents. (a) Any Operative Document shall at any time for any reason cease to be valid and binding or in full
force and effect or shall be impaired (in each case, except in connection with its expiration in accordance with its terms in the ordinary course (and not related to any default thereunder) or in the case of the O&M Agreement upon the
termination for convenience of such agreement with the consent of the Required Lenders) and such impairment could reasonably be expected to result in a Material Adverse Effect with respect to the Company, (b) any Material Project Party shall be
in default under any Operative Document or Consent(s) executed by it or (c) other than as provided for in clause (b) above, any shall be in default under any Operative Document or Consent and in the case of any such event set forth in
clause (c), such event could reasonably be expected to result in a Material Adverse Effect; provided that no Event of Default shall have occurred pursuant to this Section 7.14 if (A) in the case of an impairment under clause
(a) above, such impairment is capable of being remedied within the lesser of thirty (30) days and the cure period permitted under the applicable Operative Document with respect to such impairment and such impairment is cured within such
time period, (B) in the case of an occurrence of an event under clause (b) or (c) above, such default is cured by the relevant Project Party within the lesser of thirty (30) days and the cure period permitted under the applicable
Operative Document or Consent with respect to such default, or (C) in the case of an occurrence of any of the events set forth in clause (a), (b) or (c) above, the Company replaces the applicable Operative Document within forty-five
(45) days with a new Operative Document or other arrangement reasonably satisfactory to the Required Lenders. 
 Section 7.15. Loss of Leasehold
or Title. The loss of (a) a valid and indefeasible leasehold estate in the Facility Site, easements or fixtures, or (b) good title to other material Collateral. 
 Section 7.16. Event of Abandonment. An Event of Abandonment occurs. 
 ARTICLE VIII.

 REMEDIES ON DEFAULT, ETC. 
 Section 8.1. Acceleration. 
 8.1.1. If a Credit Agreement Event of Default with respect to the Company described in
Section 7.6.1, Section 7.6.2 or Section 7.6.3 has occurred, the Commitments shall immediately terminate, and all the Obligations then outstanding shall automatically become immediately due and payable. 

8.1.2. If any other Credit Agreement Event of Default has occurred and is continuing, the Required Lenders may at any time, at their option, by
written notice or notices to 

  

 47 

 
the Administrative Agent and the Company, terminate the Commitments and/or declare all the Obligations then outstanding to be immediately due and payable.

 8.1.3. Upon any Obligations becoming due and payable under this Article VIII, whether automatically or by declaration, such
Obligations will forthwith mature and the (a) aggregate outstanding principal amount of all Advances, plus (b) any interest accrued but unpaid hereunder, plus (c) the Make-Whole Amount in respect of all Obligations not
previously prepaid, shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. 
 8.1.4. All proceeds received by the Agents or the Lenders from the Company or otherwise in respect of the Obligations after maturity of the Obligations,
whether by acceleration or otherwise, shall be applied in accordance with the Account and Security Agreement: 
 Section 8.2. Other
Remedies. If any Credit Agreement Event of Default has occurred and is continuing, and irrespective of whether any Obligations have become or have been declared immediately due and payable under Section 8.1 the Administrative Agent
may proceed to protect and enforce its rights and the rights of the other Lenders by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein, or for an injunction
against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise. 
 Section 8.3. Rescission. At any time after any Obligations have been declared due and payable pursuant to Section 8.1.2, the Required Lenders, by written notice to the Administrative Agent and the Company, may
rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Obligations, all principal of any Obligations that is due and payable and is unpaid other than by reason of such declaration,
and all interest on such overdue principal and (to the extent permitted by Applicable Law) overdue interest in respect of the Obligations, at the Default Rate, (b) all Credit Agreement Events of Default and Credit Agreement Defaults, other than
non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Article XI, and (c) no judgment or decree has been entered for the payment of any monies due pursuant
hereto or to the Obligations. No rescission and annulment under this Section 8.3 will extend to or affect any subsequent Credit Agreement Event of Default or Default or impair any right consequent thereon. 
 Section 8.4. No Waivers or Election of Remedies, Expenses, etc. No course of dealing and no delay on the part of the Administrative Agent or any Lender in
exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such Lender’s rights, powers or remedies. No right, power or remedy conferred by this Agreement upon the Administrative Agent or any Lender thereof
shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the Company under Article IX, the Company will
pay to the Administrative Agent and each Lender on demand such further amount as shall be sufficient to cover all costs and expenses of such Lender incurred in any enforcement or collection under this 

  

 48 

 
Article VIII, including, without limitation, reasonable attorneys’ fees, expenses and disbursements. 
 ARTICLE IX. 
 EXPENSES, TAXES,
ETC. 
 Section 9.1. Expenses; Indemnity; Damage Waiver. 
 9.1.1. Expenses. The Company shall reimburse each Agent for any reasonable costs and out-of-pocket expenses (including reasonable attorneys’ fees) paid or incurred by each Agent in connection with the
preparation, negotiation, execution, delivery, distribution (including, without limitation, via the internet or through a service such as Intralinks), review, amendment, modification, and administration of the Financing Documents. The Company also
agrees to reimburse each Agent and the Lenders for any costs and out-of-pocket expenses paid or incurred by each Agent or any Lender in connection with the collection and enforcement of the Financing Documents. 
 9.1.2. Indemnification. The Company hereby further agrees to indemnify each Agent, each Lender and Deutsche Bank Trust Company Americas in its
capacity as Security Agent, Account Bank and Securities Intermediary, their respective Affiliates, and each of their directors, officers and employees and agents (collectively, the “Lender Indemnitees”) against all losses, claims,
damages, penalties, judgments, liabilities and expenses (including, without limitation, reasonable attorneys fees and disbursements) which any of them pays or incurs arising out of or relating to: (a) this Agreement or the other Financing
Documents or the transactions contemplated hereby, thereby or related hereto or thereto, including the application or proposed application of the proceeds hereunder, except to the extent that they are determined in a final non-appealable judgment by
a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of the party seeking indemnification, (but excluding any claim, action, proceeding or investigation brought directly by the Company or any
of its Affiliates), (b) any Environmental Claim, and (c) reimbursement of each Lender Indemnitee on demand for all legal and other expenses incurred in connection with investigating or defending any of the foregoing; provided,
however, that nothing contained in this Section 9.1.2 shall obligate the Company to protect, indemnify, defend or hold harmless any Lender Indemnitee against any claim to the extent arising out of the gross negligence, bad faith
or willful misconduct of such Lender Indemnitee or between and among Lender Indemnitees. Upon receiving knowledge of any suit, claim or demand that an Agent or the Lenders believe is covered by this indemnity, such Agent or such Lender shall give
the Company written notice of the matter and such Agent or such Lender may select its own counsel or request that the Company defend such suit, claim or demand, with legal counsel satisfactory to such Agent or such Lender as the case may be, at the
Company’s sole cost and expense; provided, however, that such Agent or such Lender shall have the right to defend, at the Company’s sole cost and expense, any such matter that is in connection with a formal proceeding
instituted against any business of an Agent or a Lender or its Affiliates by any Governmental Authority having authority to regulate or oversee such business; provided further, that if the Company accepts the defense, it shall be
authorized to select its own counsel and, in which event, the Company shall not be obligated to pay any additional costs of such Agent’s or any Lender’s separate counsel, but the Company shall be required to coordinate with and keep such
Agent, the Lenders, and/or 

  

 49 

 
their counsel informed as to the progress of the defense; provided that any settlement of any such suit, Claim, or demand shall not be entered into
unless the Lender Indemnitees have been fully released therefrom or have otherwise consented to such settlement. Such Agent or such Lender may also require the Company to defend the matter. Any failure or delay of an Agent, any Lender or Deutsche
Bank Trust Company Americas in its capacity as Security Agent, Account Bank or Securities Intermediary to notify the Company of any such suit, claim or demand shall not relieve the Company of its obligations under this Section 9.1.2 but
shall reduce such obligations to the extent of any increase in those obligations caused solely by any such failure or delay which is unreasonable. The obligations of the Company under this Section 9.1.2 shall survive the payment and
performance of the Obligations, the resignation or removal of the Administrative Agent and the termination of this Agreement. Notwithstanding the foregoing provisions, the Lender Indemnitees will be entitled to employ counsel separate from counsel
for the Company and for any other party in such action if any such Lender Indemnitee reasonably determines that a conflict of interest or other reasonable basis exists which makes representation by counsel chosen by the Company not advisable, all at
the Company’s expense; provided that the Company shall not be obligated to pay for more than one primary counsel and one local counsel for the Agents, the Lenders and Deutsche Bank Trust Company Americas in its capacity as Security
Agent, Account Bank or Securities Intermediary respectively (separate from and in addition to the Company’s counsel) in connection with the same action. 
 9.1.3. To the extent permitted by Applicable Law, the Company shall not assert, and hereby waives, any claim against any Lender Indemnitee, on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Financing Document or any agreement or instrument contemplated hereby or thereby, the Transactions, or the use of the
proceeds thereof. 
 9.1.4. Notwithstanding the foregoing, the Company shall not be liable to the Lender Indemnitees for any special,
indirect, consequential or punitive damages, except to the extent such special, indirect, consequential or punitive damages arise under a claim against a Lender Indemnitee for which such Lender Indemnitee is entitled to indemnification pursuant to
Section 9.1.2, and except to the extent specifically provided for in the Financing Documents. 
 All amounts due under this
Section 9.1 shall be payable not later than ten (10) days after written demand therefor. 
 Section 9.2. [RESERVED]. 

ARTICLE X. 
 SURVIVAL; REVIVAL;
REINSTATEMENT; ENTIRE AGREEMENT 
 Section 10.1. Survival. All covenants, agreements, representations and warranties made by the Company
herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Financing Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution
and delivery of this Agreement, regardless of any investigation made by any such other party or on its behalf and notwithstanding that any Lender may have had notice or knowledge of any Credit Agreement 

  

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Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the
principal of or any accrued interest on any Obligation or any fee or any other amount payable under this Agreement is outstanding and unpaid. The provisions of Article IX shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of the Obligations, or the termination of this Agreement, any other Financing Document or any provision hereof or thereof. 
 Section 10.2. Revival and Reinstatement. To the extent that any payments on the Obligations are subsequently invalidated, declared to be fraudulent or
preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver or other Person under any bankruptcy law, common law or equitable cause, then to such extent, the Obligations so satisfied shall be revived and continue as
if such payment or proceeds had not been received and the Lenders’ Liens, security interests, rights, powers and remedies under this Agreement and each Financing Document shall continue in full force and effect. In such event, each Financing
Document shall be automatically reinstated and the Company shall take such action as may be reasonably requested by any Lender to effect such reinstatement. 
 Section 10.3. Entire Agreement. THIS AGREEMENT AND THE OTHER FINANCING DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO 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. 
 ARTICLE XI. 
 AMENDMENT AND WAIVER 
 Section 11.1.
Waivers by the Company. Except as otherwise provided for in this Agreement, the other Financing Documents or by Applicable Law, the Company waives: (a) presentment, demand and protest and notice of presentment, dishonor, notice of intent
to accelerate, notice of acceleration, protest, default, nonpayment, maturity, and release at any time held by any Agent on which the Company may in any way be liable, and hereby ratifies and confirms whatever any Agent may do in this regard,
(b) all rights to notice and a hearing prior to any Agent’s taking possession or control of, or to any Agent’s replevy, attachment or levy upon, the Collateral or any bond or security that might be required by any court prior to
allowing any Agent to exercise any of its remedies, and (c) the benefit of all valuation, appraisal, marshaling and exemption laws. 
 Section 11.2. Amendments; Waivers. 
 11.2.1. Subject to the provisions of this Article XI, no amendment, waiver
or modification of any provision of this Agreement (including Schedule Z) or any other Financing Document, and no consent with respect to any departure by the Company therefrom, shall be effective unless the same shall be in writing and
signed by the Required Lenders, the Agents and the Company. The waiver of any term, condition or provision hereof shall be limited to, unless expressly stated otherwise, specific facts or circumstances for which waiver shall have been 

  

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granted and such waiver shall not be construed as, or otherwise constitute, a general waiver of any term, condition or provision hereof. 
 11.2.2. Notwithstanding Section 11.2.1 above, without the consent of each affected Lender, an amendment, supplement, waiver or other
modification with respect to this Agreement shall not (with respect to Obligations held by a non-consenting Lender): 
 11.2.2.1. reduce the principal amount, fees, or any premium of or for the Obligations; 
 11.2.2.2. extend the Final
Maturity Date or the final maturity date for any portion of the Obligations; 
 11.2.2.3. reduce the rate of Interest on any
Obligation; 
 11.2.2.4. increase the Commitment of a Lender; 
 11.2.2.5. postpone any date scheduled for any payment of principal of, or interest on, the Obligations, or any date fixed for any payment
of fees hereunder in each case payable to a Lender; 
 11.2.2.6. change the definition of the term “Required
Lenders” or any provision contained herein specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each
Lender; 
 11.2.2.7. after a Change of Control has occurred, reduce the mandatory prepayment obligations of the Company or
alter any other provisions relating to the mandatory prepayment obligations of the Advances upon the occurrence of a Change of Control as required by Section 2.6.2; 
 11.2.2.8. permit the Company to assign its rights under this Agreement; 
 11.2.2.9. release any Collateral from the Lien of any of the Security Instruments or allow release of any funds from any Account otherwise
than in accordance with the terms of the Financing Documents; 
 11.2.2.10. make any changes to the provisions of this
Section 11.2. 
 No amendment of any provision of this Agreement relating to the Agents shall be effective without the written
consent of the Agents. 
 Section 11.3. Preservation of Rights. No delay or omission of the Lenders or the Administrative Agent to exercise any
right under the Financing Documents shall impair such right or be construed to be a waiver of any Credit Agreement Event of Default or an acquiescence therein. Any single or partial exercise of any such right shall not preclude other or further
exercise thereof or the exercise of any other right, and no waiver, amendment or other variation of the terms, conditions or provisions of the Financing Documents whatsoever shall be 

  

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valid unless in writing signed by the Lenders required pursuant to Section 11.2 (or as otherwise set forth herein), and then only to the extent
in such writing specifically set forth. All remedies contained in the Financing Documents or by law afforded shall be cumulative and all shall be available to the Agents and the Lenders until the Obligations have been paid in full. 
 Section 11.4. Binding Effect, etc. Any amendment or waiver consented to as provided in this Article XI applies equally to all Lenders and is binding
upon them and upon each future Lender and upon the Company. No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Credit Agreement Default or Credit Agreement Event of Default not expressly amended or waived or
impair any right consequent thereon. No course of dealing between any Company, on the one hand, and any Agent or any Lender, on the other, nor any delay in exercising any rights hereunder shall operate as a waiver of any rights of any Agent or
Lender. 
 Section 11.5. Commitments held by Company, etc. Solely for the purpose of determining whether the Lenders of the requisite percentage
of the aggregate principal amount of the Advances then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement or the Advances, or have directed the taking of any action provided herein or in the
Advances to be taken upon the direction of the Lenders of a specified percentage of the aggregate principal amount of Advances then outstanding, Advances directly or indirectly owned by the Company or any of the Company’s Affiliates shall be
deemed not to be outstanding. 
 ARTICLE XII. 
 REPRODUCTION OF DOCUMENTS 
 This Agreement and all documents relating thereto, including,
without limitation, (a) consents, waivers and modifications that may hereafter be executed, (b) documents received by the Lenders and the Raser Entities at the Closing Date, and (c) financial statements, certificates and other
information previously or hereafter furnished to the Raser Entities or to each Lender, may be reproduced by such Raser Entity or such Lender by any photographic, photostatic, microfilm, microcard, miniature photographic or other similar process and
such Raser Entity or such Lender may destroy any original document so reproduced. The Company and the Lenders agree and stipulate that, to the extent permitted by Applicable Law, any such reproduction shall be admissible in evidence as the original
itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by such Lender in the regular course of business) and any enlargement, facsimile or further reproduction
of such reproduction shall likewise be admissible in evidence. This Article XII shall not prohibit the Company or any Lender from contesting any such reproduction to the same extent that it could contest the original, or from introducing
evidence to demonstrate the inaccuracy of any such reproduction. 
 ARTICLE XIII. 
 CONFIDENTIAL INFORMATION 
 Each
Lender agrees to hold any confidential information which it may receive from or on behalf of the Company in connection with this Agreement in confidence and such confidential 

  

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information shall be used only in connection with the transactions contemplated hereby, except for disclosure (a) to its Affiliates and to other Lenders
and their respective Affiliates, (b) to legal counsel, accountants, and other professional advisors to such Lender (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such
information and be obligated to keep such information confidential) or to any Eligible Assignee or potential Eligible Assignee that is (i) considering purchasing a participation herein or under any Advance or (ii) entering into an
Assignment and Acceptance Agreement, provided that such Eligible Assignee or potential Eligible Assignee shall execute a confidentiality agreement requiring the recipient to maintain the confidentiality of the information to the same extent
as required hereunder, (c) to regulatory officials to the extent disclosure is required by law (including applicable securities law), regulation, subpoena or judicial order or process (provided that written notice of such requirement or
order shall be promptly furnished to the Company unless such notice is legally prohibited) or requested or required by bank, securities, insurance or investment company regulators or auditors or any administrative body or commission (including the
Securities Valuation Office of the National Association of Insurance Commissioners) to whose jurisdiction such Lender may be subject, (d) to any Person to the extent required by law, regulation, or legal process (provided that written
notice of such requirement or order shall be promptly furnished to the Company unless such notice is legally prohibited), (e) to any Person in connection with any legal proceeding to which such Lender is a party and in which the Company, the
Facility, the Project or the Obligations are at issue (provided that written notice of such requirement or order shall be promptly furnished to the Company unless such notice is legally prohibited), (f) permitted by Article XVI,
(g) to rating agencies if requested or required by such agencies in connection with a rating relating to the purchase of the Advances hereunder, and (h) to the extent required to protect, enforce or defend such Lender’s rights with
respect to the Obligations. Without limiting Section 10.3, the Company agrees that the terms of this Article XIII shall set forth the entire agreement between the Company and each Lender (including the Administrative Agent) with
respect to any confidential information previously or hereafter received by such Lender in connection with this Agreement, and this Article XIII shall supersede any and all prior confidentiality agreements entered into by such Lender with
respect to such confidential information. Notwithstanding anything herein to the contrary, confidential information shall not include, and each party to any of the Financing Documents and their respective Affiliates (and the respective partners,
directors, officers, employees, advisors, representatives and other agents of each of the foregoing and their Affiliates) may disclose to any and all Persons, without limitation of any kind, (i) any information with respect to the U.S. federal
and state income tax treatment of the transactions contemplated hereby and any facts that may be relevant to understanding such tax treatment, which facts shall not include for this purpose the names of the parties or any other Person named herein,
or information that would permit identification of the parties or such other Persons, or any pricing terms or other nonpublic business or financial information that is unrelated to such tax treatment or facts, and (ii) all materials of any kind
(including opinions or other tax analyses) relating to such tax treatment or facts that are provided to any of the Persons referred to above, and it is hereby confirmed that each of the Persons referred to above has been authorized to make such
disclosures since the commencement of discussions regarding the transactions contemplated hereby. Information disclosed to or generally known in the industry or obtained or developed by any Lender based on information received from Persons (other
than the Raser Entities) who had a right to disclose the same to the Lenders shall not be deemed confidential or proprietary information. 
  

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 ARTICLE XIV.  
 NOTICES 
 Section 14.1. Notice Information. All notices and other communications provided for
hereunder shall be either (a) in writing (including telecopy) and telecopied or delivered by recognized overnight courier, or (b) except with respect to the Agents, as and to the extent set forth in Section 14.2 and in the
proviso to this Section 14.1, in an electronic medium and delivered as set forth in Section 14.2, if to the Company, at its address at 5152 North Edgewood Drive, Provo, Utah 84604, Attention: General Counsel, with a copy to
Hunton & Williams, 1900 K Street, N.W., Washington, District of Columbia 20006, Attention: Audrey C. Louison, Esq., at such address as notified by the Company to the Administrative Agent from time to time; if to any Initial Lender, at its
Lending Office; if to any other Lender, at its Lending Office specified in the Assignment and Acceptance pursuant to which it became a Lender with a copy to McDermott Will & Emery LLP, 227 West Monroe Street, Chicago, Illinois 60606,
Attention: Michael L. Boykins, Esq., Fax: 312-984-7700; and if to the Administrative Agent, at its address at 60 Wall Street, MS NYC 60-2710, New York, New York 10005, Attention: Deal Manager-Project Finance Team, Fax: 732-578-4636; or, as to any
party, at such other address as shall be designated by such party in a written notice to the other parties; provided, however, that materials and information described in Section 14.2 shall be delivered to the
Administrative Agent in accordance with the provisions thereof or as otherwise specified to the Company in writing by the Administrative Agent. All such notices and other communications shall, when telecopied or deposited with a recognized overnight
courier, be effective when transmitted by telecopier or deposited with such recognized overnight courier, respectively, except that notices and communications to any Agent pursuant to Article II, Article III or Article XV shall
not be effective until received by such Agent. The Agent shall be deemed to have received such notice or other communication when delivered if sent by recognized overnight courier or upon electronic confirmation of receipt if delivered by
telecopier. Delivery by telecopier of an executed counterpart of a signature page to any amendment or waiver of any provision of this Agreement shall be effective as delivery of an original executed counterpart thereof. 
 Section 14.2. Disclosure. The Company hereby agrees that it will provide to the Administrative Agent all information, documents and other materials that it
is obligated to furnish to the Administrative Agent pursuant to the Financing Documents, including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such
communication that (a) relates to a request for a new Advance (including any election of an interest rate or interest period relating thereto), (b) relates to the payment of any principal or other amount due under this Agreement prior to
the scheduled date therefor, (c) provides notice of any Credit Agreement Default or Credit Agreement Event of Default under this Agreement, or (d) is required to be delivered to satisfy any condition precedent to the effectiveness of this
Agreement and/or any Advance (all such non-excluded communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium in a format acceptable to the
Administrative Agent to an electronic mail address specified by the Administrative Agent in writing to the Company. In addition, the Company agrees to continue to provide the Communications to the Administrative Agent in the manner specified in the
Financing Documents but only to the extent requested in writing by the Administrative Agent. The Company further agrees that the Administrative Agent may make the 

  

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Communications available to the Lenders by posting the Communications on IntraLinks or a substantially similar electronic transmission system (the
“Platform”). 
 Section 14.3. Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED
OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE AGENT PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR
THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES (COLLECTIVELY, “AGENT PARTIES”) HAVE ANY LIABILITY TO
THE COMPANY, ANY LENDER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF THE COMPANY’S
OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY AGENT PARTY IS FOUND IN A FINAL NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY
FROM SUCH AGENT PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 
 Section 14.4. Communications. The Administrative Agent agrees that the
receipt of the Communications by the Administrative Agent at its e-mail address set forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Financing Documents. Each Lender agrees that
notice to it (as provided in the next sentence) specifying that the Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Financing Documents. Each Lender agrees
to notify the Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and that the foregoing notice may be
sent to such e-mail address. Nothing herein shall prejudice the right of the Administrative Agent or any Lender to give any notice or other communication pursuant to any Financing Document in any other manner specified in such Financing Document.

 ARTICLE XV.  
 ADMINISTRATIVE AGENT AND ADMINISTRATIVE LENDER 
 Section 15.1. Appointment; Powers. 
 15.1.1. Appointment of Administrative Agent. Each of the Lenders hereby irrevocably appoints the Administrative Agent as its agent and authorizes
the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms of the Security Instruments and the other Financing 

  

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Documents, together with such actions and powers as are reasonably incidental thereto. All Agents and Deutsche Bank Trust Company Americas in its capacity as
Security Agent, Account Bank, and the Securities Intermediary shall have the rights and protections set forth herein with respect to the Administrative Agent. 
 15.1.2. Appointment of Administrative Lender. Each of the Lenders hereby designates the Administrative Lender to act as specified herein. Each Lender shall be deemed irrevocably to authorize the Administrative
Lender to take such action on its behalf under the provisions of the Agreement and any other Financing Document and to exercise such powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of the
Administrative Lender by the terms hereof and thereof and such other powers as are reasonably incidental thereto. The Administrative Lender may perform any of its duties hereunder by or through its agents or employees. 
 Section 15.2. Duties and Obligations of Administrative Agent and Administrative Lender. Neither the Administrative Agent nor Administrative Lender shall have
any duties or obligations except those expressly set forth in the Financing Documents. The Administrative Agent shall forward information received by it from the Company pursuant to this Agreement to each of the Lenders; provided that if the
Company also delivers such information to each of the Lenders then the Administrative Agent shall not be obligated to deliver such information received. Without limiting the generality of the foregoing, (a) neither the Administrative Agent nor
Administrative Lender shall be subject to any fiduciary or other implied duties, regardless of whether a Credit Agreement Default has occurred and is continuing, (b) neither the Administrative Agent nor Administrative Lender shall have any duty
to take any discretionary action or exercise any discretionary powers, and (c) except as expressly set forth in the Financing Documents, neither the Administrative Agent nor Administrative Lender shall have any duty to disclose, and shall not
be liable for the failure to disclose, any information relating to the Company that is communicated to or obtained by the Person serving as the Administrative Agent, Administrative Lender or any of their respective Affiliates in any capacity. The
Administrative Agent and Administrative Lender shall be deemed not to have knowledge of any Credit Agreement Default unless and until written notice thereof is given to the Administrative Agent or Administrative Lender (as applicable) by the Company
or a Lender, and shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Financing Document, (ii) the contents of
any certificate, report or other document delivered hereunder or under any other Financing Document or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set
forth herein or in any other Financing Document, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Financing Document or any other agreement, instrument or document, (v) the satisfaction of any
condition set forth in Article III or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or Administrative Lender (as applicable), (vi) the existence, value, perfection
or priority of any Collateral security or the financial or other condition of the Company or any other obligor or guarantor, or (vii) any failure by the Company or any other Person (other than itself) to perform any of its obligations hereunder
or under any other Financing Document or the performance or observance of any covenants, agreements or other terms or conditions set forth herein or therein. 
  

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 Section 15.3. Action by Administrative Agent or Administrative Lender. Neither the Administrative Agent nor
Administrative Lender shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that each of the Administrative Agent and Administrative Lender is
required to exercise in writing as directed by the Required Lenders and in all cases the Administrative Agent and Administrative Lender shall be fully justified in failing or refusing to act hereunder or under any other Financing Documents unless it
shall (a) receive written instructions from the Required Lenders or the Lenders, as applicable, specifying the action to be taken and (b) be indemnified to its satisfaction by the Lenders against any and all liability and expenses which
may be incurred by it by reason of taking or continuing to take any such action. The instructions as aforesaid and any action taken or failure to act pursuant thereto by the Administrative Agent or Administrative Lender shall be binding on all of
the Lenders. If a Credit Agreement Default has occurred and is continuing, then the Administrative Agent and Administrative Lender shall take such action with respect to such Credit Agreement Default as shall be directed by the Required Lenders in
accordance with Article VIII in the written instructions (with indemnities) described in this Section 15.3, provided that, unless and until the Administrative Agent shall have received such directions, the Administrative
Agent and Administrative Lender may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Credit Agreement Default as it shall deem advisable in the best interests of the Lenders. In no event,
however, shall the Administrative Agent or Administrative Lender be required to take any action which exposes the Administrative Agent or Administrative Lender to personal liability or which is contrary to this Agreement, the Financing Documents or
Applicable Law nor shall the Administrative Agent be required to use or risk its own funds or otherwise incur any liability in the performance of its obligations or duties except to the extent such liability is the result of the Administrative
Agent’s gross negligence, willful misconduct or bad faith. Neither the Administrative Agent nor Administrative Lender shall be liable to the Lenders for any action taken or not taken by it with the consent or at the request of the Required
Lenders or the Lenders, and otherwise neither the Administrative Agent nor Administrative Lender shall be liable to the Lenders for any action taken or not taken by it in its capacity as Administrative Agent or Administrative Lender, respectively,
hereunder or under any other Financing Document or under any other document or instrument referred to or provided for herein or therein or in connection herewith or therewith including its own ordinary negligence, except for its own gross negligence
or willful misconduct. 
 Section 15.4. Lien Release. 
 15.4.1. The Lenders hereby irrevocably authorize the Collateral Agent to release any Lien granted to or held by the Collateral for the benefit of itself and the Lenders upon any property covered by the Financing
Documents (a) upon termination of this Agreement and payment and satisfaction in full of all Obligations (other than any indemnity obligations under the Financing Documents that are not then due and payable or for which any events or claims
that would give rise thereto are not then pending); (b) constituting property being sold or disposed of if the Company certifies to the Administrative Agent that the sale or disposition is made in compliance with the provisions of the Financing
Documents (and the Administrative Agent may rely in good faith conclusively on any such certificate, without further inquiry); or (c) constituting property leased to the Company under a lease which has expired or been terminated in a
transaction permitted under this Agreement or is about to expire and which has not been, and 

  

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is not intended by the Company to be, renewed or extended. Additionally, so long as no Credit Agreement Default or Credit Agreement Event of Default Exists,
the Lenders hereby irrevocably authorize the Collateral Agent to release any Lien on the Released Assets in accordance with Article XI of the Account and Security Agreement. 
 15.4.2. Promptly, but in any event within five (5) Business Days of a written request from the Company, the Collateral Agent shall, upon agreement
of the Company to pay all cost and expenses relating thereto (including all legal fees and costs) acceptable to the Collateral Agent and without recourse, and without any representation or warranty of any kind, express or implied, execute and
deliver to the Company any documents or instruments reasonably necessary or appropriate, in the Company’s sole discretion, to effect the provisions of Section 15.4.1. 
 Section 15.5. Lenders’ Direction. The Lenders have read the Security Instruments and Financing Documents and are familiar with their terms. By execution and delivery of this Agreement, each Lender
authorizes and directs the Agents and Deutsche Bank Trust Company Americas in its capacity as Security Agent, Account Bank, and the Securities Intermediary to execute and deliver each such document on its behalf. 
 Section 15.6. Reliance. Each of the Administrative Agent and Administrative Lender shall be entitled to rely upon, and shall not incur any liability for
relying or taking any action upon, any notice, request, certificate, consent, statement, instrument, document or other writing reasonably believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent and
Administrative Lender also may rely upon any statement made to it orally or by telephone and reasonably believed by it to be made by the proper Person, and shall not incur any liability for relying thereon and each of the Company and each Lender
hereby waives the right to dispute the record of such statement made by the Administrative Agent or Administrative Lender (as applicable), except in the case of gross negligence or willful misconduct by the Administrative Agent or Administrative
Lender (as applicable). The Administrative Agent or Administrative Lender may consult with legal counsel (who may be counsel for the Company), independent accountants and other experts selected by it, and shall not be liable for any action taken or
not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 Section 15.7. Subagents. The Administrative Agent
or Administrative Lender may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents which it appoints. The Administrative Agent, Administrative Lender and any such sub-agent may perform any and all
its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding Sections of this Article XV shall apply to any such sub-agent and to the Related Parties of the Administrative
Agent or Administrative Lender and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 Section 15.8. Resignation or Removal of Administrative Agent or Administrative Lender. Subject to the appointment and acceptance of a successor
Administrative Agent or Administrative Lender as provided in this Section 15.8, the Administrative Agent or 

  

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Administrative Lender may resign at any time by notifying the Lenders and the Company, and the Administrative Agent or Administrative Lender may be removed
at any time upon written notice with or without cause by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the right to appoint a successor Administrative Agent or Administrative Lender, provided
that, so long as no Credit Agreement Event of Default then exists and is continuing, the Company shall have the right to approve such successor Administrative Agent, which approval shall not be unreasonably withheld or delayed. If no successor shall
have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent or Administrative Lender gives notice of its resignation or removal of the retiring
Administrative Agent or Administrative Lender, then the retiring Administrative Agent or Administrative Lender may, on behalf of the Lenders, appoint (or petition a court of competent jurisdiction to appoint) a successor Administrative Agent or
Administrative Lender which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent or Administrative Lender hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent or Administrative Lender, and the retiring Administrative Agent or Administrative Lender shall be discharged from its duties
and obligations hereunder. After the Administrative Agent’s or Administrative Lender’s resignation hereunder, the provisions of this Article XV and Article IX shall continue in effect for the benefit of such retiring
Administrative Agent or Administrative Lender, their respective sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent or Administrative
Lender. 
 Section 15.9. Administrative Agent as a Lender. Each Person serving as Administrative Agent hereunder shall have the same rights and
powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business
with the Company or other Affiliate thereof as if it were not the Administrative Agent hereunder. 
 Section 15.10. No Reliance. Each Lender
acknowledges that it has, independently and without reliance upon the Administrative Agent, Administrative Lender or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Agreement and each other Financing Document to which it is a party. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent, Administrative Lender or any other Lender and based
on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Financing Document, any related agreement or any
document furnished hereunder or thereunder. Neither the Administrative Agent nor Administrative Lender (as such) shall be required to keep itself informed as to the performance or observance by the Company of this Agreement, the Financing Documents
or any other document referred to or provided for herein or to inspect the Properties or books of the Company. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the Administrative
Agent under the Financing Documents, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the affairs, financial 

  

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condition or business of the Company (or any of its Affiliates) which may come into the possession of the Administrative Agent or any of its Affiliates.

 Section 15.11. Limitation on Damages. In no event shall the Administrative Agent, Collateral Agent and/or Administrative Lender be liable for
any indirect, special, punitive or consequential loss or damage of any kind whatsoever, including, but not limited to, lost profits, even if has been advised of the likelihood of such loss or damage and regardless of the form of action. 

Section 15.12. Force Majeure. In no event shall the Administrative Agent and/or Collateral Agent be liable for any failure or delay in the performance of
its obligations hereunder because of circumstances beyond its control, including, but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, strikes, work stoppages, civil or military disturbances, nuclear or natural
catastrophes, fire, riot, embargo, loss or malfunctions of utilities, communications or computer (software or hardware) services, government action, including any laws, ordinances, regulations, governmental action or the like which delay, restrict
or prohibit the providing of the services contemplated by this Agreement. 
 ARTICLE XVI. 
 MISCELLANEOUS 
 Section 16.1. Successors
and Assigns. All covenants and other agreements contained in this Agreement by or on behalf of any of the Parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent
Lender) whether so expressed or not. 
 Section 16.2. Assignments and Participations. 
 16.2.1. Each Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment, the Advances owing to it, and the Note or Notes held by it, if any); provided, however, that (a) each such assignment shall be of a uniform, and not a varying, percentage of all rights and obligations
under and in respect of the Commitment, (b) except in the case of an assignment to a Person that, immediately prior to such assignment, was a Lender, an Affiliate of any Lender or an assignment of all of a Lender’s rights and obligations
under this Agreement, the aggregate amount of the Commitment being assigned to such Eligible Assignee pursuant to such assignment (determined as of the date of the Assignment and Acceptance with respect to such assignment) shall in no event be less
than $2,000,000; provided, that Related Funds shall be combined for purposes of determining compliance with such minimum assignment amounts, (c) each such assignment shall be to an Eligible Assignee, (d) the parties to each such
assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance and an administrative questionnaire and tax form, together with any Note or Notes (if any) subject to
such assignment and a processing and recordation fee of $3,500 (for the account of the Administrative Agent), and (e) no assignment hereunder shall be or shall be deemed to be a discharge, rescission, extinguishment, novation or substitution of
any Advance or Commitment, and any Advance assigned or Commitment assumed shall continue to be the same obligation and not a new obligation. 
  

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 16.2.2. Upon such execution, delivery, acceptance and recording, from and after the effective date
specified in such Assignment and Acceptance, (a) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and
obligations of a Lender hereunder, and (b) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights (other than its
rights under Sections 2.12, Section 2.13 and Article IX to the extent any claim thereunder relates to an event arising prior to such assignment) and be released from its obligations under this Agreement (and, in the case of
an Assignment and Acceptance covering all of the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). 
 16.2.3. By executing and delivering an Assignment and Acceptance, each Lender assignor thereunder and each assignee thereunder confirm to and agree with
each other and the other parties thereto and hereto as follows: (a) other than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with any Financing Document or the execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the perfection or priority of any lien or security interest
created or purported to be created under or in connection with, any Financing Document or any other instrument or document furnished pursuant thereto; (b) such assigning Lender makes no representation or warranty and assumes no responsibility
with respect to the financial condition of the Company or the performance or observance by the Company of any of its obligations under any Financing Document or any other instrument or document furnished pursuant thereto; (c) such assignee
confirms that it has received a copy of this Agreement, has been given the opportunity to review the financial statements referred to in Section 5.1 and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into such Assignment and Acceptance; (d) such assignee will, independently and without reliance upon any Agent, such assigning Lender or any other Lender and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (e) such assignee confirms that it is an Eligible Assignee; (f) such assignee appoints and authorizes each
Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Financing Documents as are delegated to such Agent by the terms hereof and thereof, together with such powers and discretion as are reasonably
incidental thereto; and (g) such assignee agrees that it will perform in accordance with their terms all of the obligations that by the terms of this Agreement and the other Financing Documents are required to be performed by it as a Lender.

 16.2.4. The Administrative Agent shall maintain at its address referred to in Article XIV a copy of each Assignment and Acceptance
delivered to and accepted by it and a register for the recordation of the names and addresses of the Lenders and the Commitment of, and principal amount of the Advances owing to, each Lender from time to time (the “Register”). The
entries in the Register shall be prima facie evidence thereof, and the Company, the Agents and the Lenders shall treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be
available for inspection by 

  

 62 

 
the Company or any Agent or any Lender at any reasonable time and from time to time upon reasonable prior notice. 
 16.2.5. Upon its receipt of the processing and recordation fee and an Assignment and Acceptance executed by an assigning Lender and an assignee, together
with any Note or Notes (if any) subject to such assignment, the Administrative Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit 16 hereto, (a) accept such Assignment and
Acceptance, (b) record the information contained therein in the Register, and (c) give prompt written notice thereof to the Company and each other Agent. In the case of any assignment by a Lender, within five (5) Business Days after
its receipt of such notice, the Company, at its own expense, shall execute and deliver to such Eligible Assignee with a copy to the Administrative Agent in exchange for the surrendered Note or Notes (if any) a new Note to the order of such Eligible
Assignee in an amount equal to the Commitment assumed by it pursuant to such Assignment and Acceptance and evidencing the assigned Advance (or portion thereof) and, if any assigning Lender that had a Note or Notes prior to such assignment has
retained a Commitment hereunder, a new Note to the order of such assigning Lender in an amount equal to the Commitment retained by it hereunder and evidencing the retained Advance (or portion thereof). Such new Note or Notes shall be dated the
effective date of such Assignment and Acceptance and shall otherwise be in substantially the form of Exhibit 2.15. Any surrendered Note shall immediately be marked “Canceled” and returned to the Company. 
 16.2.6. Each Lender may sell participations to one or more Persons (other than the Company or any of its Affiliates) in or to all or a portion of its
rights and obligations under this Agreement (including all or a portion of its Commitment, the Advances owing to it and the Note or Notes (if any) held by it); provided, however, that (a) such Lender’s obligations under this
Agreement (including its Commitment) shall remain unchanged, (b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (c) such Lender shall remain the holder of any such Note for
all purposes of this Agreement, (d) the Company, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and (e) no
participant under any such participation shall have any right to approve any amendment or waiver of any provision of any Financing Document, or any consent to any departure by the Company therefrom, except to the extent that such amendment, waiver
or consent would reduce the principal of, or interest on, the Advances or any fees or other amounts payable hereunder, in each case to the extent subject to such participation, postpone any date fixed for any payment of principal of, or interest on,
the Advances or any fees or other amounts payable hereunder, in each case to the extent subject to such participation, or release all or substantially all of the Collateral. 
 16.2.7. Any Lender may, in connection with any participation or proposed participation pursuant to this Article XVI, disclose to the participant
or proposed participant any information relating to the Company furnished to such Lender by or on behalf of the Company; provided, however, that, prior to any such disclosure, the participant or proposed participant shall agree to
preserve the confidentiality of any confidential information received by it from such Lender on terms consistent with Article XIII. 
 16.2.8. Notwithstanding any other provision set forth in this Agreement, any Lender may at any time create a security interest in all or any portion of its rights under this 

  

 63 

 
Agreement (including the Advances owing to it and the Note or Notes (if any) held by it) in favor of any Federal Reserve Bank in accordance with Regulation A
of the Board of Governors of the Federal Reserve System. 
 Section 16.3. 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 (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 16.4. Construction. Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant
shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall
be applicable whether such action is taken directly or indirectly by such Person. 
 Section 16.5. Counterparts. This Agreement may be executed
in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the
Parties hereto. This Agreement may be delivered by facsimile. 
 Section 16.6. USA Patriot Act Notice. Each Lender hereby notifies the Company
that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies the Company, which information includes the name and address of the Company and other information that will allow such
Lender to identify the Company in accordance with the USA Patriot Act. In addition, the Parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act, Deutsche Bank Trust Company Americas, like all financial institutions
and in order to assist with anti-terrorism and anti-money laundering initiatives, is required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship or opens an account. The Parties to
this Agreement agree that they will provide Deutsche Bank Trust Company Americas with such information as it may reasonably request in order for Deutsche Bank Trust Company Americas to satisfy the requirements of the USA Patriot Act. 
 Section 16.7. Interest Rate Limitation. It is the intention of the Parties hereto that each Lender shall conform strictly to usury laws applicable to it.
Accordingly, if the transactions contemplated hereby would be usurious as to any Lender under laws applicable to it (including the laws of the United States of America or any other jurisdiction whose laws may be mandatorily applicable to such Lender
notwithstanding the other provisions of this Agreement), then, in that event, notwithstanding anything to the contrary in any of the Financing Documents or any agreement entered into in connection with or as security for the Obligations, it is
agreed as follows: (a) the aggregate of all consideration which constitutes interest under law applicable to any Lender that is contracted for, taken, reserved, charged or received by such Lender under any of the Financing Documents or
agreements or otherwise in connection with the Obligations shall under no circumstances exceed the maximum amount allowed by such Applicable Law, and any excess shall be canceled automatically and if theretofore paid shall be credited by such Lender

  

 64 

 
on the principal amount of the Obligations (or, to the extent that the principal amount of the Obligations shall have been or would thereby be paid in full,
refunded by such Lender to the Company); and (b) in the event that the maturity of the Obligations is accelerated by reason of an election of the Lender thereof resulting from any Credit Agreement Event of Default under this Agreement or
otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under law applicable to any Lender may never include more than the maximum amount allowed by such Applicable Law, and excess
interest, if any, provided for in this Agreement or otherwise shall be canceled automatically by such Lender as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Lender on the principal amount of the
Obligations (or, to the extent that the principal amount of the Obligations shall have been or would thereby be paid in full, refunded by such Lender to the Company). All sums paid or agreed to be paid to any Lender for the use, forbearance or
detention of sums due hereunder shall, to the extent permitted by law applicable to such Lender, be amortized, prorated, allocated and spread throughout the stated term of the loans evidenced by the Obligations until payment in full so that the rate
or amount of interest on account of any loans hereunder does not exceed the maximum amount allowed by such Applicable Law. If at any time and from time to time (x) the amount of interest payable to any Lender on any date shall be computed at
the Highest Lawful Rate applicable to such Lender pursuant to this Section 16.7 and (y) in respect of any subsequent interest computation period the amount of interest otherwise payable to such Lender would be less than the amount
of interest payable to such Lender computed at the Highest Lawful Rate applicable to such Lender, then the amount of interest payable to such Lender in respect of such subsequent interest computation period shall continue to be computed at the
Highest Lawful Rate applicable to such Lender until the total amount of interest payable to such Lender shall equal the total amount of interest which would have been payable to such Lender if the total amount of interest had been computed without
giving effect to this Section 16.7. 
 Section 16.8. GOVERNING LAW; JURISDICTION; SERVICE OF PROCESS. 
 16.8.1. THIS AGREEMENT AND THE OBLIGATIONS SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK EXCEPT TO THE EXTENT
THAT UNITED STATES FEDERAL LAW PERMITS ANY LENDER TO CONTRACT FOR, CHARGE, RECEIVE, RESERVE OR TAKE INTEREST AT THE RATE ALLOWED BY THE LAWS OF THE STATE WHERE SUCH LENDER IS LOCATED. 
 16.8.2. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THE FINANCING DOCUMENTS SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW
YORK CITY OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY ACCEPTS FOR ITSELF AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS PROPERTY, GENERALLY AND
UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE BRINGING OF ANY SUCH 

  

 65 

 
ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. THIS SUBMISSION TO JURISDICTION IS NON-EXCLUSIVE AND DOES NOT PRECLUDE A PARTY FROM OBTAINING
JURISDICTION OVER ANOTHER PARTY IN ANY COURT OTHERWISE HAVING JURISDICTION. 
 16.8.3. THE COMPANY HEREBY IRREVOCABLY DESIGNATES, APPOINTS
AND EMPOWERS AND HEREBY CONFERS AN IRREVOCABLE SPECIAL POWER, AMPLE AND SUFFICIENT, TO CT CORPORATION SYSTEM, WITH OFFICES ON THE DATE HEREOF AT 111 8TH AVENUE, NEW YORK, NY, 10011, AS ITS DESIGNEE, APPOINTEE AND AGENT WITH RESPECT TO ANY SUCH
ACTION OR PROCEEDING IN NEW YORK TO RECEIVE, ACCEPT AND ACKNOWLEDGE FOR AND ON ITS BEHALF, AND IN RESPECT OF ITS PROPERTY, SERVICE OF ANY AND ALL LEGAL PROCESS, SUMMONS, NOTICES AND DOCUMENTS WHICH MAY BE SERVED IN ANY SUCH PROCEEDING AND AGREES
THAT THE FAILURE OF SUCH AGENT TO GIVE ANY ADVICE OF ANY SUCH SERVICE OF PROCESS TO THE COMPANY SHALL NOT IMPAIR OR AFFECT THE VALIDITY OF SUCH SERVICE OR OF ANY CLAIM BASED THEREON. IF FOR ANY REASON SUCH DESIGNEE, APPOINTEE AND AGENT SHALL CEASE
TO BE AVAILABLE TO ACT AS SUCH, THE COMPANY AGREES TO DESIGNATE A NEW DESIGNEE, APPOINTEE AND AGENT IN NEW YORK CITY REASONABLY SATISFACTORY TO THE ADMINISTRATIVE LENDER ON THE TERMS AND FOR THE PURPOSES OF THIS PROVISION. EACH PARTY IRREVOCABLY
CONSENTS TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO IT AT THE ADDRESS SPECIFIED IN ARTICLE XIV OR SUCH
OTHER ADDRESS AS IS SPECIFIED PURSUANT TO ARTICLE XIV, SUCH SERVICE TO BECOME EFFECTIVE THIRTY (30) DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF A PARTY OR ANY LENDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY
LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANOTHER PARTY IN ANY OTHER JURISDICTION. 
 EACH PARTY HEREBY
(a) IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER FINANCING DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN;
(b) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES; (c) CERTIFIES THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OR AGENT OF COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVERS, AND (d) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT, THE FINANCING DOCUMENTS AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS
SECTION 16.8. 
  

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 Section 16.9. Limitation on Recourse. All obligations in connection with the Financing Documents and the
transactions contemplated hereby shall be obligations solely of the Company, and the Agents and the Lenders shall have recourse only to the Collateral with respect thereto. Neither the Agents nor the Lenders shall have any claim against or recourse
to Raser, or its Affiliates or directors, officers or employees of any of them or their Controlling Persons or the Affiliates or directors, officers or employees of the Company, by operation of law or otherwise (other than claims against and
recourse to the Company or any other Person executing and delivering any other Financing Document to the extent set forth therein), such recourse hereby being expressly waived by the Agents and the Lenders. 
 Section 16.10. Delivery of Reports, Notices, Certificates and Other Documents. For any purpose hereunder, no report, notice or certificate, a form of which
is attached as an Exhibit in any Operative Document, shall be deemed provided hereunder unless such report, notice or certificate is substantially in the form required thereby and duly executed by each signatory thereto. 
 [Signature Pages Follow] 
  

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 IN WITNESS WHEREOF, the Parties hereto have executed this Credit Agreement as of the date first
set forth above. 
 THERMO NO. 1 BE-01, LLC, a Delaware limited liability company, as Company 
  

			
	 By:
	 	Intermountain Renewable Power, LLC
	 Its:
	 	Managing Member
		
	By:	 	 /s/ Richard D. Clayton

	Name:	 	Richard D. Clayton
	Title:	 	Manager

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent 
  

			
	By:	 	 /s/ Wanda Camacho

	Name:	 	Wanda Camacho
	Title:	 	Vice President
		
	By:	 	 /s/ Annie Jaghatspanyan

	Name:	 	Annie Jaghatspanyan
	Title:	 	Assistant Vice President

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral Agent 
  

			
	By:	 	 /s/ Wanda Camacho

	Name:	 	Wanda Camacho
	Title:	 	Vice President
		
	By:	 	 /s/ Annie Jaghatspanyan

	Name:	 	Annie Jaghatspanyan
	Title:	 	Assistant Vice President

 Credit Agreement Signature Page 

 MERRILL LYNCH CREDIT PRODUCTS, LLC, a Delaware limited liability Company, as Lender and Administrative Lender

  

			
	By:	 	 /s/ Nicholas Renwick

	Name:	 	Nicholas Renwick
	Title:	 	Vice President

 Credit Agreement Signature Page 

 Final Version 
 SCHEDULE Z 
 Unless the context otherwise requires, the following terms shall have the
following respective meanings for all purposes, and the following definitions are equally applicable both to the singular and plural forms and the feminine, masculine and neuter forms of the terms defined. Any term defined below by reference to any
Operative Document shall have such meaning whether or not such Operative Document has been terminated or otherwise remains in effect on the date of usage. This Schedule Z is comprised of three parts: (i) General Definitions; (ii) Parties;
and (iii) Documents. 
 GENERAL DEFINITIONS 
 “Account(s)” means all “accounts” as defined in Article 9 of the UCC. [ASA, CA] 
 “Account Bank” means Deutsche Bank Trust Company Americas, in its capacity as bank with respect to the Deposit
Accounts and within the meaning of Section 9-102 of the UCC. [ASA] 
 “Account Debtor” means
each Person who is obligated on a Receivable or any Supporting Obligation related thereto. [ASA] 
 “Accounting
Firm” means any of Company’s primary independent accounting firm which shall be Hein & Associates LLP or such other nationally or regionally recognized firm certified public accountants, in each case, selected by the
Manager and approved by a Class Majority Vote. [LLCA] 
 “Actual Availability Rating” means the net electrical
output of the Facility during full operation, represented as a percentage of the Actual Capacity Rating, demonstrated pursuant to the Availability Prove-Out and set forth on the Notice of Facility Substantial Completion. [EPC, Schedule Z]

 “Actual Capacity Rating” means lesser of (i) Demonstrated Operational Capacity and (ii) Demonstrated
Geothermal Capacity. [EPC, Schedule Z] 
 “Actual Debt Investment” means the amount identified as “Term
Loan” in the Recalculated Equity Base Case Model. [Schedule Z] 
 “Actual Efficiency” means the
product of (i) the Actual Capacity Rating, multiplied by (ii) the Actual Availability Rating, reflected as a numerical value. [Schedule Z] 
 Schedule Z 

 “Actual Equity Investment” means the amount identified as “Tax Equity
Prepayment” in the Recalculated Equity Base Case Model. [Schedule Z] 
 “Actual Facility Characteristics”
means the following characteristics actually achieved by the Facility upon Facility Substantial Completion: (i) the Actual Capacity Rating, (ii) the Actual Availability Rating, and (iii) the Actual PIS Turbines. [EPC]

 “Actual PIS Turbines” means the number of Turbines comprising the Facility that achieve Turbine Substantial
Completion on or before the Required Turbine Substantial Completion Date. [EPC, Schedule Z] 
 “Additional Operative
Document” means (a) any agreement replacing or superseding an existing Operative Document, (b) any agreement for the sale of energy, capacity or ancillary services, or (c) any other agreement (i) relating to
obligations in excess of $500,000 for any single fiscal year and $2,000,000 over the term of such agreement, and (ii) relating to the development of the Project entered into by the Company and any other Person subsequent to the Effective Date.
[CA] 
 “Adjusted Capital Account” means the Capital Account of a Member (a) increased by the amount of
potential deficit that the Member is deemed obligated to restore, calculated as described in the last sentence of Treasury Regulation Section 1.704-2(g)(1) and the last sentence of Treasury Regulation Section 1.704-2(i)(5) and
(b) decreased by expected items described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6). [LLCA] 
 “Administrative Agent’s Account” means a non-interest bearing trust account established by the Administrative Agent on behalf of the Lenders for the purpose of receiving Debt Service payments from the Company
for the further payment to the Agents and the Lenders. [CA] 
 “Advance” has the meaning specified in
Section 2.1 of the Credit Agreement. [ASA, CA, Schedule Z] 
 “Advance Date” means the time
and Business Day on which all the conditions precedent set forth in Section 3.1 and 3.2 of the Credit Agreement are satisfied or waived and the Company receives an Advance under the Credit Agreement. [CA]

 “Advance Request” has the meaning specified in Section 2.2.1 of the Credit Agreement. [ASA,
CA] 
 “Affected Lender” has the meaning specified in Section 2.12.3. of the Credit Agreement.
[CA] 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through
one or more intermediaries, Controls, is Controlled by or is under common Control with such Person. For purposes of any Transaction Document, (i) the Company shall not be deemed to be an Affiliate of the Lenders or the Lenders’ Affiliates
and (ii) solely for purposes of Section 9.1.2 of the Credit Agreement, the Company shall not be deemed an Affiliate of Raser and Raser’s Affiliates. The Company shall be deemed to be an Affiliate of IRP prior to the
Closing 

  

 - 2 - 

 
(for purposes of representations and warranties in the Equity Capital Contribution Agreement), but shall not be deemed to be an Affiliate of any
Member from and after the Closing. [ASA, CA ECCA, EPC, LLCA, O&M, Schedule Z] 
 “After-Tax Payout” means
(A) the Class A Investors reaching an Internal Rate of Return equal to the Target IRR on the same date as in the Equity Base Case Model originally agreed when the Equity Capital Contribution Agreement was signed, (B) the
Class A Investors reaching a pre-tax return through the assumed 20- year useful life of the Project of at least 2%, treating the Production Tax Credits the Class A Investors are expected to be allocated as equivalent to cash
(the “Target Pre-Tax Return”), and (C) the allocations and distributions of the Class A Investors after the Flip Date decreasing to no less than 5% or such greater percentage as is necessary for the Class A
Investors to achieve the Target Pre-Tax Return. [Schedule Z]  
 “Agent Parties” has the meaning specified in
Section 14.3 of the Credit Agreement. [CA] 
 “Agents” means, collectively, the
Administrative Agent and the Collateral Agent, as applicable, together with their successors and assigns to the extent permitted by the terms of the Credit Agreement. [ASA, CA, Schedule Z] 
 “Agreement” means, as used in any agreement, instrument or other document, such agreement, instrument or other document. [ASA,
CA, ECCA, EPC, LLCA, O&M Schedule Z] 
 “Annual Operating Plan and Budget” means the Facility Plan and Budget
and Wellfield Plan and Budget; provided, that with respect to the Annual Operating Plan and Budget for any period occurring on or before December 31, 2009, Annual Operating Plan and Budget means the Annual Operating Plan and Budget
referenced in Section 6.1.6 of the O&M Agreement. Where “Annual Operating Plan and Budget” is referenced as a numerical quantity, it shall equal the sum of the total budgets set forth in the Facility Plan and
Budget and Wellfield Plan and Budget. [ASA, CA, LLCA, O&M, Schedule Z] 
 “Anti-Terrorism Order” means
Executive Order No. 13,224 of September 24, 2001, Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended. [CA] 
 “Applicable Law” means, as used in any Transaction Document or with respect to any Party to such Transaction Document, means all
common laws, customary laws, constitutional laws, statutes, directives, codes, resolutions, enactments, treaties, ordinances, judgments, decrees, injunctions, writs and orders of any Governmental Authority and rules, regulations, orders,
interpretations and Governmental Approvals of any Governmental Authority, in each case, having jurisdiction over or with respect to such Transaction Document, such Party or the transactions contemplated thereby and the performance thereunder.
[ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Applied Drilling Escrow Amount” has the meaning set forth
in Section 3.8 of the Account and Security Agreement. [ASA, EPC] 
  

 - 3 - 

 “Appraisal Method” means an appraiser selected jointly by the Class A
Investors and the Class B Investors. However, if they cannot agree on an appraiser within 15 days of a party invoking the procedure described in this definition, then the Class A Investors and the Class B Investors will each appoint
its own appraiser; provided, that if either the Class A Investors or the Class B Investors fail to appoint an appraiser within five days after the end of such fifteen (15) day period, the determination of the appraiser appointed by
the other class of Members (if so appointed within such period) shall be conclusive and binding on the Members. If the appraisers appointed by the Class A Investors and the Class B Investors are unable to agree upon the fair market value
within 30 days after the appointment of the second of such appraisers, the fair market value will be the average of the market values reported by each appraiser. The fair market value determined by this Appraisal Method will be conclusive and
binding on the Members. [LLCA] 
 “Appraisal Notice” has the meaning set forth in Section 9.7 of
the LLC Operating Agreement. [LLCA] 
 “Approved Reserve Letter of Credit” means a letter of credit
issued by a bank or other financial institution and containing terms and conditions satisfactory to the Required Lenders in their sole discretion, which letter of credit shall at all times be in the stated amount equal to at least the Minimum Debt
Service Reserve and shall not expire until the Final Maturity Date (giving effect to any automatic renewal periods contained therein). [Schedule Z] 
 “Approved Transferee” means, in the case of a Transfer of a Class A Interest, any Person that is (i) either (A) an Affiliate of such transferring Class A Investors,
(B) an institutional investor with a tangible net worth of at least $50,000,000 at the time of such Transfer, or (C) a Person whose obligations under this Agreement are guaranteed by an institutional investor with a tangible net worth of
at least $50,000,000 at the time of such Transfer, (ii) not a Competitor, and (iii) not a Disqualified Transferee; and, in the case of a Transfer of a Class B Interest, any Person that is (i) an experienced geothermal company
with a national or international reputation with experience owning and operating commercial geothermal plants with an aggregate capacity of at least 50 megawatts (or undertakes to engage such an experienced geothermal company to manage the Company),
(ii) either (A) an Affiliate of such transferring Class B Investors, or (B) a Person with a tangible net worth of at least $50,000,000 or whose obligations as Class B Investors are guaranteed by an entity having such a tangible
net worth, and (iii) is not a Disqualified Transferee. [LLCA] 
 “ASA Intellectual Property” means,
collectively, the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses, the Trademarks, the Trademark Licenses, the Trade Secrets, and the Trade Secret Licenses. [ASA, Schedule Z] 
 “Asset Manager” has the meaning set forth in Section 4.2 of the O&M Agreement. [O&M]

 “Assets” means all right, title and interest of the Company in land, properties, buildings, improvements,
fixtures, foundations, assets and rights of any kind, whether tangible or intangible, real, personal or mixed, including contracts, equipment, systems, books, data, reports, studies and records, proprietary rights, intellectual property, the
Leases, Interconnection Asset, 

  

 - 4 - 

 
easements, Licenses and Permits, rights under or pursuant to all warranties, representations and guarantees, cash, accounts receivable, deposits and prepaid
expenses, including the Project and any and all of the foregoing pertaining thereto. [LLCA, Schedule Z] 
 “Assigned
Agreements” means all agreements and contracts to which (a) the Company is a party as of the effective date of the Credit Agreement, including, without limitation, each Project Document and each Operative Document, or to
which (b) the Company becomes a party after the effective date of the Credit Agreement, as each such agreement may be amended, supplemented or otherwise modified from time to time to the extent permitted by the terms of the Credit
Agreement. [ASA, Schedule Z] 
 “Authorized Representative” means, as used in any Agreement, the natural
Person appointed by each Party to such Agreement pursuant to the terms thereof to act on such Party’s behalf with respect to such Party’s rights and obligations under such Agreement. [EPC, LLCA, O&M] 
 “Availability Period” means the period beginning on the Effective Date of the Credit Agreement and ending on the Final
Completion Date. [CA] 
 “Availability Prove-Out” has the meaning set forth in Section 7.1 of the
EPC Agreement. [EPC, Schedule Z] 
 “Available Contingency Amount” means, as of any date, the
sum of (i) the product of (x) the Contingency Amount, multiplied by (y) the result of (A) the aggregate amount of Milestone Payments requested prior to and including on such date, divided by
(B) the Contract Price, minus (ii) the aggregate amount of the Contingency Amount paid to Contractor by Owner pursuant to Section 5.1.3 of the EPC Agreement prior to such date. [EPC] 
 “Bankruptcy” means, with respect to any Person, a situation in which (i) such Person shall file a voluntary petition in
bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file any petition or answer or consent seeking any reorganization, arrangement, moratorium, composition, readjustment, liquidation, dissolution or similar relief for itself under
any present or future Applicable Laws relating to bankruptcy, insolvency or other relief for debtors, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver, conservator or liquidator of such Person or of all or any
substantial part of its properties (the term “acquiesce”, as used in this definition, includes the failure to file a petition or motion to vacate or discharge any order, judgment or decree within fifteen (15) calendar days
after entry of such order, judgment or decree); (ii) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed against such Person seeking a reorganization, arrangement, moratorium, composition,
readjustment, liquidation, dissolution or similar relief under any present or future Applicable Laws relating to bankruptcy, insolvency or other relief for debtors, and such Person shall acquiesce and such decree shall remain unvacated and unstayed
for an aggregate period of sixty (60) calendar days (whether or not consecutive) from the date of entry thereof, or a trustee, receiver, conservator or liquidator of such Person shall be appointed with the consent or acquiescence of such Person
and such appointment shall remain unvacated and unstayed for an aggregate period of sixty (60) calendar days, whether or not consecutive; (iii) such Person shall admit in writing its inability to pay its debts as they mature;
(iv) such Person 

  

 - 5 - 

 
shall give notice to any Governmental Authority of insolvency or pending insolvency, or suspension or pending suspension of operations; or (v) such
Person shall make a general assignment for the benefit of creditors or take any other similar action for the protection or benefit of creditors. [ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Bankruptcy Code” means Title 11 of the United States Code, as in effect from time to time. [ASA, Schedule Z] 

“Base Fee” has the meaning set forth in Section 7.2 of the O&M Agreement. [O&M, Schedule Z]

 “Board” means the Board of Governors of the Federal Reserve System of the United States of America or any
successor Governmental Authority. [CA, Schedule Z] 
 “Bonus Payments” means bonus, incentive or similar
special payments required to be made by the Company under the EPC Agreement, O&M Agreement or any other Project Document (other than payments with respect to a Borrower Indemnification Event). 
 “Book-Entry Security” means a security maintained in the form of entries (including, without limitation, the security
entitlements in, and the financial assets based on, such security) in the commercial book-entry system of the Federal Reserve System. [ASA, Schedule Z] 
 “Borrower Indemnification Event” means any event or occurrence or directly related series of events or occurrences giving rise to the obligation of the Company to make payments in respect of
damages or indemnifications under any of the Project Documents. [Schedule Z] 
 “Budget Commitment” means the
amount identified as the “Budget Commitment” on Schedule E to the EPC Agreement. [EPC, Schedule Z] 
 “Business Day” means any calendar day, except Saturdays, Sundays and days on which the Federal Reserve Bank in New York are closed or authorized to be closed. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z]

 “Buy-Down CA Redemption Amount” means the sum of (i) the Buy-Down Debt Overage, plus
(ii) any interest accrued but unpaid under the Credit Agreement, as of the Guaranteed Final Completion Date, applicable to an aggregate principal amount of Advances equal to the Buy-Down Debt Overage, plus (iii) the Make-Whole
Amount with respect to an aggregate principal amount of Advances equal to the Buy-Down Debt Overage. [CA, Schedule Z] 
 “Buy-Down Debt Overage” means the sum of (i) the Target Debt Investment, minus (ii) the Actual Debt Investment. [CA, Schedule Z] 
 “Buy-Down Equity Overage” means the sum of (i) the Target Equity Investment, minus (ii) the Actual Equity
Investment. [ECCA, Schedule Z] 
 “Buy-Down Liquidated Damages” means the sum of (i) the Buy-Down
CA Redemption Amount, plus (ii) the Buy-Down LLC Redemption Amount. [ASA, EPC]  
  

 - 6 - 

 “Buy-Down LLC Redemption Amount” means the sum of (i) the Buy-Down
Equity Overage, plus, (ii) an amount sufficient to achieve the After-Tax Payout on an amount of Class A Interests equal to the Buy-Down Equity Overage for the period to the Guaranteed Final Completion Date, plus (iii) 2%
of the Buy-Down Equity Overage. [LLCA, Schedule Z]  
 “Buy-Down Trigger Event” has the meaning set forth in
Section 6.4.1 of the EPC Agreement. [ASA, CA, EPC, Schedule Z] 
 “Called Principal” means,
with respect to any Advance, the principal amount of such Advance that is to be prepaid pursuant to Section 2.5 or 2.6 of the Credit Agreement or has become or is declared to be immediately due and payable pursuant to
Section 8 of the Credit Agreement, as the context requires. [Schedule Z] 
 “Capacity
Prove-Out” has the meaning set forth in Section 7.2 of the EPC Agreement. [EPC, Schedule Z]  
 “Capital Account” means an account for each Member established and maintained as described in Section 4.2 of the LLC Operating Agreement. [LLCA] 
 “Capital Contribution” means, with respect to any Member, the amount of money and the initial Gross Asset Value of any property
contributed to the Company with respect to the Interests in the Company held or acquired by such Member. [ECCA, Schedule Z] 
 “Capital Contribution Commitment” means, with respect to the Class A Investors, $24,500,000. [ECCA, Schedule Z] 
 “Capital Investment Proceeds” means the proceeds received by Owner in connection with the sale of equity to Contractor or other capital investments made by Contractor to Owner in connection
with Contractor’s membership interests therein. [EPC] 
 “Capital Leases” means, in respect of any
Person, all leases which shall have been, or should have been, in accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder. [CA, Schedule
Z] 
 “Cash Equivalent Investments” means, at any time, (a) any evidence of Debt, maturing not more than one
year after the acquisition thereof, issued or guaranteed by the United States Government, or any agency thereof, (b) any evidence of Debt, maturing not more than one year after the acquisition thereof, issued or guaranteed by any state, any
political subdivision thereof, or any public instrumentality thereof, rated at least A-l by Standard & Poor’s Ratings Group or P-l by Moody’s Investors Service, Inc., (c) commercial paper, or corporate demand notes, in each
case (unless issued by a Lender or its holding company) rated at least A-l by Standard & Poor’s Ratings Group or P-l by Moody’s Investors Service, Inc., (d) any certificate of deposit (or time deposit represented by a
certificate of deposit) or banker’s acceptance maturing not more than one year after the acquisition thereof, or any overnight Federal Funds transaction that is issued or sold by any Lender (or by a commercial banking institution that is a
member of the Federal Reserve System and has a combined capital and surplus and undivided profits of not less than $500,000,000), (e) any repurchase agreement with a term of not more than seven (7) days 

  

 - 7 - 

 
entered into with any Lender (or commercial banking institution of the nature referred to in clause (d) above) which (i) is secured by a fully
perfected security interest in any obligation of the type described in any of clauses (a) through (d) above, and (ii) has a market value at the time such repurchase agreement is entered into of not less than 100% of the repurchase
obligation of such Lender (or other commercial banking institution) thereunder and (f) money market accounts or mutual funds which invest exclusively in assets in securities of the types described in clauses (a) through (e) above.
[ASA, CA] 
 “Cash Difference” has the meaning set forth in Section 6.5(d) of the LLC Operating
Agreement. [LLCA] 
 “Cash Proceeds” means, collectively, all proceeds of any Collateral received by the
Company consisting of cash, checks and other near-cash items. [ASA] 
 “Casualty Event” means any loss,
casualty or other damage to, or any nationalization, taking under power of eminent domain or by condemnation or similar proceeding of, any Property of the Company. [ASA, CA, EPC, O&M, Schedule Z] 
 “Certificate of Formation” has the meaning set forth in the preliminary statements of the LLC Operating Agreement.
[LLCA] 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the Effective Date,
(b) any change in any Applicable Law or in the interpretation or application thereof by any Governmental Authority after the Effective Date, or (c) a request, guideline or directive (whether or not having the force of law) of a
Governmental Authority made or issued after the Effective Date which requires compliance by the affected Party. [CA] 
 “Change of Control” means the occurrence of any of the following events: 
 (a) before the Facility
Substantial Completion Date: 
 (i) the consummation of a merger or consolidation of Raser with any other company, other than a merger or
consolidation which would result in the voting securities of Raser outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty
percent (50%) of the total voting power represented by the voting securities of Raser or such surviving entity outstanding immediately after such merger or consolidation; 
 (ii) the consummation of a plan of liquidation of Raser; 
 (iii) the consummation of the sale or disposition by Raser of all or substantially all of Raser’s assets; 
 (iv) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becoming the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or
indirectly, of securities of Raser representing more than fifty percent (50%) of the total voting power represented by Raser’s then outstanding voting securities; 
  

 - 8 - 

 (v) Raser shall cease to own, directly or indirectly, 100% of the Equity Interests of IRP; 
 (vi) Raser shall cease to possess, directly or indirectly, the power to Control and direct the management of the Company pursuant to the LLC Operating
Agreement; provided, however, no Change of Control shall be deemed to occur under this clause (vi) if (A) (1) the Class A Investors replace IRP as the managing member pursuant to the exercise of remedies by such
Class A Investors under the LLC Operating Agreement and (2) the Class A Investors have and continue to have experience reasonably acceptable to the Required Lenders in the management of entities owning geothermal energy
generating facilities in the United States or retain the services of an Affiliate or Person to act as managing member having and continuing to have such experience; provided that in the case of a Person which is not an Affiliate of the
Class A Investors, such Person shall be reasonably acceptable to the Required Lenders, (B) solely as a result of the Class A Investors having exercised their cure rights under Section 4.4 under the LLC Operating
Agreement and receiving Class C Interests in accordance with the LLC Operating Agreement, or (C) solely as a result of UTC exercising its rights to direct Raser and Company in accordance with Section 2 of the UTC Step-In
Agreement; or 
 (b) before or after the Facility Substantial Completion Date: 
 (i) IRP shall cease to own, directly or indirectly, one hundred percent (100%) of the Class B Interests, except in the case of a transfer to an
Approved Transferee or a transferee that has been approved by the Class A Investors and, in each case which transferee has executed and delivered a pledge agreement substantially in the form of the Class B Pledge Agreement, or as otherwise
acceptable to the Required Lenders, and, after giving effect to such transfer, IRP shall own, directly or indirectly, at least fifty percent (50%) of the Class B Interests; or 
 (ii) IRP shall cease to possess the power, directly or indirectly, to Control and direct the management of the Company pursuant to the LLC Operating
Agreement; provided, however, no Change of Control shall be deemed to occur under this clause (ii) if (A) (1) the Class A Investors replace IRP as the managing member pursuant to the exercise of remedies by such
Class A Investors under the LLC Operating Agreement and (2) the Class A Investors have and continue to have experience reasonably acceptable to the Required Lenders in the management of entities owning geothermal energy
generating facilities in the United States or retain the services of an Affiliate or Person to act as managing member having and continuing to have such experience; provided that in the case of a Person which is not an Affiliate of the
Class A Investors, such Person shall be reasonably acceptable to the Required Lenders or (B) solely as a result of the Class A Investors having exercised their cure rights under Section 4.4 under the LLC Operating
Agreement and receiving Class C Interests in accordance with the LLC Operating Agreement. [CA] 
 “Change of
Member Control” means with respect to any Member, an event (such as a transfer of voting securities, liquidation or merger) that causes such Member to cease to be Controlled by such Member’s Parent; provided, however,
that an event that causes a Member’s Parent to be Controlled by another Person is not a Change of Member Control unless such event causes a termination of the Company pursuant to Section 708(b)(1)(B) of the Code or could 

  

 - 9 - 

 
require the Company to pay the Redemption Amount under Section 2.6.2 of the Credit Agreement. [LLCA]  
 “Chattel Paper” means all “chattel paper” as defined in Article 9 of the UCC. [ASA, Schedule Z] 
 “Claims” means, with respect to any Person, any and all suits, actions, sanctions, notices of violation, legal proceedings,
claims, losses, judgments, settlements, demands, injury, obligation, liabilities, out-of-pocket costs, direct damages, liquidated damages, expenses, fines and penalties of whatsoever kind or character, including reasonable attorneys’ fees,
civil fines or penalties or other expenses incurred, assessed, asserted or sustained by or against such Person, whether based on contract, warranty, guarantee, indemnity, tort (including negligence), strict liability, breach of statute or otherwise.
[ASA, EPC, O&M, Schedule Z] 
 “Class A Interests” means membership interests in the Company that are
held initially by MLE and have the rights described in the LLC Operating Agreement. [ECCA, EPC, LLCA, Schedule Z] 
 “Class B Interests” means membership interests in the Company that are held initially by IRP and have the rights described in the LLC Operating Agreement. [ECCA, LLCA, Schedule Z] 
 “Class C Interests” means membership interests in the Company that initially are authorized, but not issued, and that may be
issued to MLE in exchange for additional Capital Contributions as described in Section 4.4 of the LLC Operating Agreement. [LLCA, Schedule Z] 
 “Class Majority Vote” means approval by a majority of the Class A Investors and the Class B Investors, with each voting separately as a class. [LLCA, Schedule Z] 
 “Closing” means the time at which all the conditions precedent set forth in Section 3.1 of the Credit
Agreement are satisfied or waived in accordance with the terms of the Credit Agreement and the initial Advance has been made to the Company. [CA, Schedule Z] 
 “Closing Date” means the date on which Closing occurs or has occurred, as the case may be. [CA, Schedule Z] 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor statute. [CA, ECCA, EPC, LLCA,
Schedule Z] 
 “Collateral Parcels” has the meaning specified in Article XI of the Account and Security
Agreement. [ASA] 
 “Collateral” has the meaning assigned in Section 4.1 of the Account and
Security Agreement. [ASA, CA, Schedule Z] 
  

 - 10 - 

 “Collateral Assignment Agreements” means the Class A Consent, Class B
Consent, Class B Guarantor Consent, PPA Consent, Raser Consent, Raser Power Consent, SITLA Consent and UTC Consent. [ASA] 
 “Collateral Support” means all property (real or personal) assigned, hypothecated or otherwise securing any Collateral and shall include any security agreement or other agreement granting a lien or security interest
in such real or personal property. [ASA, Schedule Z] 
 “Commercial Tort Claims” means all “commercial
tort claims” as defined in Article 9 of the UCC, including, without limitation, all commercial tort claims listed on Schedule 6.7 of the Account and Security Agreement (as such schedule may be amended or supplemented from time to
time). [ASA] 
 “Commitment” means, with respect to each Lender, the commitment of such Lender to make the
Advances, as such commitment may be modified from time to time pursuant to assignments by or to such Lender pursuant to Section 16 of the Credit Agreement. [CA] 
 “Commodities Accounts” (a) means all “commodity accounts” as defined in Article 9 of the UCC and
(b) includes, without limitation, all of the accounts listed on Schedule 6.4 of the Account and Security Agreement under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to
time). [ASA, Schedule Z] 
 “Communications” has the meaning specified in Section 14.2 of the
Credit Agreement. [CA] 
 “Company Items” has the meaning set forth in Section 7.10(b) of
the LLC Operating Agreement. [LLCA] 
 “Company Minimum Gain” means the amount of minimum gain there is
in connection with nonrecourse liabilities of the Company, calculated in the manner described in Treasury Regulation Sections 1.704-2(b)(2) and 1.704-2(d). [LLCA] 
 “Competitor” means any Person that directly or indirectly, through one or more subsidiaries, Affiliates or joint ventures,
actively operates, manages or develops geothermal power plants or other renewable energy projects with an aggregate capacity of more than 50 MW in the geographic area of the regional transmission organizations or the NERC control area, or their
equivalent, in which the Facility participates; provided, that notwithstanding the foregoing, banks, insurance companies and other financial institutions and Affiliates or joint ventures thereof (i) regularly involved in making passive
investments in alternative energy facilities similar to an investment in the Class A Interest or (ii) that do not regularly actively operate, manage or develop geothermal power plants, shall not be deemed a “Competitor.”
[ECCA, LLCA] 
 “Completion Certificate” means a Facility Substantial Completion Certificate or a Final
Completion Certificate. [EPC, Schedule Z] 
 “Compliance Certificate” means a Compliance Certificate
substantially in the form of Exhibit 5.1.3 of the Credit Agreement. [ASA, CA] 
  

 - 11 - 

 “Consent of the Class A Investors” means the consent or approval of the
Class A Investors who own in the aggregate more than fifty percent (50%) of the Class A Interests in the Company. [LLCA] 
 “Consents” means, collectively, the SITLA Consent, UTC Consent and the PPA Consent. [CA, LLCA] 
 “Consistent Return” has the meaning set forth in Section 7.9 of the LLC Agreement. [LLCA] 
 “Contingency Amount” means the amount identified as the “Contingency Amount” in Schedule E of the EPC Agreement. [EPC, Schedule Z]  
 “Contract Price” means the sum of the Milestone Payments paid and to be paid pursuant to the EPC Agreement. [EPC,
Schedule Z]  
 “Contractor Event of Default” has the meaning set forth in Section 13.1.2 of the
EPC Agreement. [EPC] 
 “Contractor Indemnitees” means, collectively, Contractor and its respective
shareholders, partners, Affiliates, employees, Subcontractors, representatives and agents, together with their successors and assigns. [EPC] 
 “Contractor Termination Payment” has the meaning set forth in Section 13.2.2 of the EPC Agreement. [EPC] 
 “Contractor’s Personnel” means, collectively, Contractor, its employees, agents, Affiliates, any Person acting under or at the direction of the Contractor and any Subcontractors and their
respective employees, agents and subcontractors, together with their successors and assigns. [EPC] 
 “Contractor’s
Taxes” has the meaning set forth in Section 2.2.13 of the EPC Agreement. [EPC] 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or
otherwise. For the purposes of this definition, and without limiting the generality of the foregoing, any Person that owns directly or indirectly 50% (provided, that with respect to Section 6.14 of the Credit Agreement,
Section 3.2.1.5, Section 3.2.1.6 and Section 3.2.2.5 of the Account and Security Agreement and the definition of Required Lenders, 10%) or more of the Equity Interests having ordinary voting power for the
election of the directors or other governing body of a Person (other than as a limited partner of such other Person) will be deemed to “control” such other Person. “Controlling” and
“Controlled” have meanings correlative thereto. [CA, Schedule Z] 
 “Controlled Foreign
Corporation” means “controlled foreign corporation” as defined in the United States Internal Revenue Code of 1986, as amended from time to time. [ASA] 
  

 - 12 - 

 “Consultation” or “Consult” means to confer with, and
reasonably consider and take into account the reasonable suggestions, comments or opinions of another Person. [LLCA] 
 “Consistent Return” shall have the meaning specified in Section 7.9 of the LLC Operating Agreement. [LLCA] 
 “Construction Account” means the Construction Account set forth in Section 2.1.1 of the Account and Security Agreement. [ASA, Schedule Z] 
 “Copyright Licenses” means any and all agreements providing for the granting of any right in or to Copyrights (whether the
Company is licensee or licensor thereunder) including, without limitation, each agreement referred to in Schedule 6.6 of the Account and Security Agreement (as amended or supplemented from time to time). [ASA, Schedule Z]

 “Copyrights” means all United States, state and foreign copyrights, all mask works fixed in semi-conductor chip
products (as defined under 17 U. S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, now or hereafter in force throughout the world, all registrations and applications therefore including, without limitation, the applications
referred to in Schedule 6.6 of the Account and Security Agreement (as amended or supplemented from time to time), all rights corresponding thereto throughout the world, all extensions and renewals of any thereof, the right to sue for
past, present and future infringements of any of the foregoing, and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit. [ASA, Schedule Z] 
 “Cost Overrun” means, as of the Termination Payment Date, the amount by which (i) the sum of (w) the Budget
Commitment, plus (x) the Contract Price, plus (y) the aggregate amount of any Contingency Amounts requested and received by Contractor pursuant to Section 5.1.3 of the EPC Agreement, plus
(z) the aggregate amount of all other capitalized fees, costs and expenses of constructing and completing the Facility (without duplication of any amounts), in each case, as of such date, exceeds (ii) the Project Budget.
[EPC] 
 “CPI” means the nonseasonally adjusted Consumer Price Index for urban wage earners and clerical
workers as published by the United States Bureau of Labor Statistics. [Schedule Z] 
 “CPI Adjustment” means
the sum of: (i) one; plus (ii) the percentage change (expressed in decimal form) from the prior year in the CPI or such other equivalent index as may be mutually agreed upon by the parties from time to time. [O&M,
LLC] 
 “Credit Agreement Default” means an event or condition the occurrence or existence of which would, with
the lapse of time or the giving of notice or both, becomes a Credit Agreement Event of Default; provided, that to the extent that such event or condition expressly provides for a specified period of time or time for performance or
completion under the Credit Agreement (excluding any grace periods), such event or condition shall not be a Credit Agreement Default until such specified time period has expired or time has passed. [ASA, CA, ECCA, Schedule Z]

 “Credit Agreement Event of Default” has the meaning specified in Section 7 of the Credit
Agreement. [ASA, CA, Schedule Z] 
  

 - 13 - 

 “Curative Flip Allocation” has the meaning set forth in
Section 6.5(e) of the LLC Operating Agreement. [LLCA] 
 “Debt” means, for any Person, the
sum of the following (without duplication): (a) all obligations of such Person for borrowed money or evidenced by bonds, bankers’ acceptances, debentures, notes or other similar instruments; (b) all obligations of such Person (whether
contingent or otherwise) in respect of letters of credit, surety or other bonds and similar instruments; (c) all accounts payable and all accrued expenses, liabilities or other obligations of such Person to pay the deferred purchase price of
Property or services; (d) all obligations under Capital Leases; (e) all obligations under Synthetic Leases; (f) all Debt (as defined in the other clauses of this definition) of others secured by (or for which the holder of such Debt
has an existing right, contingent or otherwise, to be secured by) a Lien on any Property of such Person, whether or not such Debt is assumed by such Person; (g) all Debt (as defined in the other clauses of this definition) of others guaranteed
by such Person or in which such Person otherwise assures a creditor against loss of the Debt (howsoever such assurance shall be made) to the extent of the lesser of the amount of such Debt and the maximum stated amount of such guarantee or assurance
against loss; (h) all obligations or undertakings of such Person to maintain or cause to be maintained the financial position or covenants of others or to purchase the Debt or Property of others (other than purchases of materials and equipment
in the ordinary course of business); (i) obligations to deliver commodities, goods or services in consideration of one or more advance payments; (j) any Debt (as defined in other clauses of this definition) of a partnership for which such
Person is liable either by agreement, by operation of law or by requirement of a Governmental Authority but only to the extent of such liability; (k) Disqualified Capital Stock; and (l) any purchase money security interest in any property,
or interest therein created or; assumed contemporaneously with the purchase of such property, or interest therein, to secure or provide for the payment or financing of any part of the purchase price thereof. The Debt of any Person shall include all
obligations of such Person of the character described above to the extent such Person remains legally liable in respect thereof notwithstanding that any such obligation is not included as a liability of such Person under GAAP. [ASA, CA, EPC,
LLCA, Schedule Z] 
 “Debt Service” means, with respect to any measurement period, the aggregate amount of
scheduled principal, interest and fees required to be paid on or in connection with the Obligations during such measurement period. [ASA, CA, Schedule Z] 
 “Debt Service Account” means the Debt Service Account set forth in Section 2.1.1 of the Account and Security Agreement. [ASA, Schedule Z] 
 “Debt Service Reserve Account” means the Debt Service Reserve Account set forth in Section 2.1.1 of the Account
and Security Agreement. [ASA, Schedule Z] 
 “Default Rate” has the meaning specified in
Section 2.9 of the Credit Agreement. [CA] 
 “Defense Election” has the meaning set forth
in Section 7.3(b) of the Equity Capital Contribution Agreement. [ECCA] 
  

 - 14 - 

 “Delivery” or “Delivering” means delivery in a form and
manner pursuant to which the intended recipient thereof is capable of readily receiving, distributing or otherwise utilizing the subject matter of such delivery for its intended purpose. [CA, EPC, Schedule Z] 
 “Delivery Point” means the PacifiCorp substation at Mona, Utah or such other location where the electric energy generated by the
Facility is to be Delivered in order for the Facility to generate revenues. [EPC, Schedule Z] 
 “Demonstrated Geothermal
Capacity” means the lesser of 10.35 and the maximum generating capacity of the Facility (measured in MW) as supported by a Geothermal Resource and Energy Assessment Certificate. [Schedule Z] 
 “Demonstrated Operational Capacity” means the greatest amount of aggregate net MW of electrical output demonstrated by the
Facility during full operation pursuant to the Capacity Prove-Out and set forth on the Notice of Facility Substantial Completion. [Schedule Z] 
 “Deposit Accounts” (a) means all “deposit accounts” as defined in Article 9 of the UCC and (b) includes, without limitation, all of the accounts listed on Schedule
6.4 of the Account and Security Agreement under the heading “Deposit Accounts” (as such schedule may be amended or supplemented from time to time). [ASA, Schedule Z] 
 “Development Account” means the Development Account set forth in Section 2.1.1 of the Account and Security
Agreement. [ASA, CA, Schedule Z] 
 “Development Account Overage” means, as of any date, the amount by
which the balance of the Development Account as of such date exceeds the Development Account Minimum Balance. [EPC] 
 “Development Account Minimum Balance” means the Development Account Target Balance; provided, that if a Buy-Down Trigger Event occurs, then Development Account Minimum Balance shall mean the product of
(i) the Development Account Target Balance, multiplied by (ii) a fraction, the numerator of which is the Actual Efficiency and the denominator of which is 9.614. [ASA, Schedule Z] 
 “Development Account Target Balance” means $5,000,000. [Schedule Z] 
 “Discounted Value” means, with respect to the Called Principal of any Advance, the amount obtained by discounting all Remaining
Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the
same periodic basis as that on which interest on the Obligations is payable) equal to the Reinvestment Yield with respect to such Called Principal. [Schedule Z]  
  

 - 15 - 

 “Disputes” has the meaning specified in the applicable Agreement in which such
term is used. [EPC, O&M] 
 “Disqualified Capital Stock” means any Equity Interest that, by its terms (or
by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event, matures or is mandatorily redeemable for any consideration other than other Equity Interests (which would not constitute
Disqualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is convertible or exchangeable for Debt or redeemable for any consideration other than other Equity Interests (which would not constitute Disqualified Capital Stock)
at the option of the holder thereof, in whole or in part, on or prior to the date that is one year after the earlier of (a) the Final Maturity Date and (b) the date on which there are no obligations outstanding under the Credit
Agreement. [CA, Schedule Z] 
 “Disqualified Transferee” means any Person, which is, or whose Affiliate
is, then (a) a party adverse in any pending or threatened action, suit or proceeding to the Company or any Member or an Affiliate thereof, if (i) the Company (with the Consent of the Members) or such Member (in its sole and absolute
discretion), as applicable, shall not have consented to the Transfer to such Person and (ii) the matter at stake in such action, suit or proceeding is material to the Company or Member, as applicable, or (b) a Person to whom electricity is
sold prior to the end of the PTC Period or is not an Unrelated Person. [LLCA] 
 “Distributable Cash” means,
as of any date, all cash, cash equivalents and liquid investments (excluding Capital Contributions) held by the Company as of such date less all reserves that, in the reasonable judgment of the Managing Member, are necessary or appropriate for the
operation of the Company or the Facility consistently with the Annual Operating Plan and Budget and Prudent Practices, less amounts necessary to repay Working Capital Loans, and less the Management Fee. Reasonable reserves shall consist of any
combination of the following reserves as reasonably determined by the Managing Member: (i) necessary for payment of expenses included in the Annual Operating Plan and Budget, (ii) necessary to prevent or mitigate an emergency
situation, (iii) established with the prior written consent of the Members (by Class Majority Vote), (iv) necessary to allow the Company to meet expenses that are clearly identified and expected with reasonable certainty to become
due, but that are not included in the Annual Operating Plan and Budget, or (v) necessary to ensure sufficient spare parts or the payment of operational and maintenance costs for the Facility. [LLCA] 
 “Distribution Conditions” means: 
 (a) no Credit Agreement Default or Credit Agreement Event of Default has occurred and is continuing; 
 (b)
the Final Completion Date has occurred; 
 (c) (x) the Debt Service Reserve Account is funded in an amount not less than the Minimum
Debt Service Reserve and (y) the Maintenance Reserve Account is funded in an amount not less than the Maintenance Reserve Required Balance; and 
 (d) the Historical DSCR that corresponds to the Payment Quarterly Transfer Date on which such distribution is being contemplated under Section 3.2.1.8 of the Account and 

  

 - 16 - 

 
Security Agreement (as calculated under Section 5.2 of the Credit Agreement) is no less than the Minimum DSCR; and provided,
however, that the Distribution Conditions set forth in clause (d) and (e) above shall not be deemed to have been satisfied if the Company has exercised the option to make an equity payment pursuant to
Section 5.2.2 of the Credit Agreement. [ASA, CA] 
 “Distribution Date” means dates
selected by the Managing Member at least monthly. [LLCA] 
 “Documents” means all “documents” as defined in
Article 9 of the UCC. [ASA, EPC, LLCA, O&M, Schedule Z] 
 “Dollars” or “$” refers
to the lawful currency of the United States of America. [CA, EPC, O&M] 
 “Drilling Account” means the
Drilling Account set forth in Section 2.2.3 of the Account and Security Agreement. [ASA, CA, EPC, LLCA]  
 “Drilling Deposit” means the Capital Contributions as required under Section 2.2.3 of the Equity Capital Contribution Agreement and as may be made pursuant to Section 4.4 of the LLC
Operating Agreement. [ASA, CA] 
 “Drilling Reserve Target” means, as of any date, the greater of
(i) the amount identified as the “Required Drilling Escrow” set forth in the most recent Drilling Plan and Budget as of such date in accordance with Section 4.3 of the Equity Capital Contribution Agreement, and
(ii) the amount identified as the “Drilling Reserve Amount” set forth in the most recently issued Drilling Escrow Certificate as of such date in accordance with Section 4.4 of the Equity Capital Contribution
Agreement. [Schedule Z] 
 “Drilling Services” means all Services that are necessary or appropriate for
the purpose of production and reinjection of the geothermal resource to be obtained and maintained in connection with the operation of the Facility. [EPC, Schedule Z] 
 “Drilling Shortfall” means, as of any date, the amount by which (i) the Drilling Reserve Target as of such date,
exceeds (ii) the aggregate amount of capital contributions made by the Class B Investors immediately prior to such date. [ECCA] 
 “DSCR” means for any period, the ratio of (a) Gross Project Revenues received by the Company during such period, less the aggregate amount of the sum of (i)Reimbursable Costs, plus
(ii) Base Fee, plus (iii) Owner Maintenance Agreement Payments, plus (iv) O&M Site Document Payments, plus (v) O&M Other Payments, during such period to (b) Fixed Charges required to be paid
during such period. [CA, LLCA, Schedule Z] 
 “Effective Date” means, as used in any Agreement, the Effective
Date as defined in such Agreement. [ASA, ECCA, EPC, LLCA, O&M, Schedule Z, CA] 
  

 - 17 - 

 “Effective Date Capital Contributions” means the capital contributions by the
Class A Investors on the Effective Date, as determined in accordance with Section 2.1 of the Equity Capital Contribution Agreement. [CA, LLCA] 
 “EHS Permits” has the meaning specified in Section 4.6.2 of the Credit Agreement. [CA, ECCA]

 “Eligible Assignee” means (a) any Lender, and any Affiliate of any Lender; (b) a Person that is
(i) a commercial bank organized under the laws of the United States of America, or any state thereof, and having a combined capital and surplus of at least $100,000,000, (ii) a commercial bank organized under the laws of any other country
which is a member of the Organization for Economic Cooperation and Development (the “OECD”), or a political subdivision of any such country, and having a combined capital and surplus of at least $100,000,000; provided, that
such bank is acting through a branch or agency located in the United States, (iii) a finance company, insurance company or other financial institution or fund which is engaged in making, purchasing or otherwise investing in commercial loans for
its own account in the ordinary course of business, (iv) a Person (other than a natural person) that is engaged in the business of commercial banking or lending and that is (A) a Subsidiary of a Lender, (B) a Subsidiary of a Person of
which a Lender is a Subsidiary, (C) a Person of which a Lender is a Subsidiary or (v) that is administered or managed by (A) a Lender, (B) an Affiliate of a Lender or (C) an entity or an Affiliate of an entity that
administers or manages a Lender; provided, that notwithstanding any of the foregoing, none of the Company nor any of its Affiliates shall qualify as an Eligible Assignee under this definition. In addition, unless an Credit Agreement Event of
Default has occurred and is continuing, no Energy Company may be an Eligible Assignee unless approved by the Company (which approval shall not be unreasonably withheld, conditioned or delayed). [CA, Schedule Z] 
 “Eligible Facility” means an “eligible facility” as that term has the meaning set forth under 18 C.F.R.
§ 366.1 (2007). [ECCA]  
 “Emergency Condition” means the occurrence or significant risk of
imminent occurrence of an event that materially adversely affects the safety or protection of Persons or materially adversely affects, in whole or in part, the Facility, the Facility Site or other property located at or adjacent to the Facility Site
or materially adversely affects, in whole or in part, any natural resources located on or adjacent to the Facility Site. [O&M] 
 “Energy Company” means any Person, including such Person’s Affiliates and Subsidiaries that is engaged in the development, ownership, operation or management of renewable energy production and facilities.
[Schedule Z] 
 “Environmental Claim” means, with respect to any Person, any and all Claims by or against such
Person arising under, pursuant to or with respect to any violation, including alleged violations, of an Environmental Law or the Release, or alleged Release, of any Hazardous Material. [CA, EPC, O&M] 
 “Environmental Law” means any Applicable Laws, including all rules and regulations, relating to the environment, pollution,
protection of life, health or safety as affected by the 

  

 - 18 - 

 
environment or natural resources or any Hazardous Material, in each case, as may be in effect from time to time, including the Comprehensive Environmental
Response, Compensation and Liability Act, 42 U.S.C. § 9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq.; the Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq.; the Clean Air Act, 42 U.S.C.
§ 7401 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. § 1471 et seq.; the Toxic Substances Control Act, 15 U.S.C. §§ 2601 et seq.; the Oil Pollution Act, 33 U.S.C. § 2701 et seq.; the Emergency Planning and
Community Right-to-Know Act, 42 U.S.C. § 11001 et seq.; the Safe Drinking Water Act, 42 U.S.C. §§ 300f through 300j-26; the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq. [CA, ECCA, O&M, Schedule Z]

 “EPC Assets” means all Equipment and Materials comprising the Facility, satisfying the technical specifications
set forth in the Project Design Book with respect thereto, other than the Owner-Supplied Assets; provided, that if any Equipment and Materials could be deemed to be both EPC Assets and Owner-Supplied Assets, such Equipment and Materials shall
be deemed EPC Assets for any purposes under the EPC Agreement. [EPC, Schedule Z] 
 “EPC Other Payment”
has the meaning set forth in Section 5.2.3 of the EPC Agreement. [EPC]  
 “EPC Site Document
Payment” has the meaning set forth in Section 5.2.2 of the EPC Agreement. [EPC]  
 “Equipment” means: (a) all “equipment” as defined in the UCC, (b) all machinery, manufacturing equipment, data processing equipment, computers, office equipment, furnishings, furniture,
appliances, fixtures and tools (in each case, regardless of whether characterized as equipment under the UCC) and (c) all accessions or additions thereto, all parts thereof, whether or not at any time of determination incorporated or installed
therein or attached thereto, and all replacements therefor, wherever located, now or hereafter existing, including any fixtures. [ASA, EPC, Schedule Z] 
 “Equipment and Materials” means all equipment, machinery, apparatus, materials, articles, components, raw materials, supplies, parts, systems, structures and any other equipment or items
comprising or otherwise necessary or appropriate to be incorporated or integrated into, based on the design, engineering, construction, development, operation and maintenance of, as applicable, a geothermal power plant facility of a similar nature,
size and complexity as the Facility, in each case, based on the technical specifications and requirements set forth in the Project Design Book. [EPC, O&M, Schedule Z] 
 “Equity Base Case Model” means the Original Equity Base Case Model; provided, that if a Buy-Down Trigger Event occurs,
then “Equity Base Case Model” means the Recalculated Equity Base Case Model. [ECCA, EPC, LLCA, Schedule Z] 
 “Equity Interests” means shares of capital stock in a corporation, partnership interests in a partnership, membership interests in a limited liability company, beneficial interests in a trust or other equity
ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest. [CA, ECCA, Schedule Z] 
  

 - 19 - 

 “Equity Investors” means collectively, the Class A Investors, the
Class B Investors and the Class C Investor. [O&M, Schedule Z] 
 “Equity Transactions” the
transactions contemplated by the Equity Capital Contribution Agreement. [ECCA] 
 “ERISA” means the
Employee Retirement Income Security Act of 1974, as amended, and any successor statute. [CA, LLCA, Schedule Z] 
 “ERISA
Affiliate” means each trade or business (whether or not incorporated) which together with the Company would be deemed to be a “single employer” within the meaning of section 4001(b)(1) of ERISA or subsections (b), (c),
(m) or (o) of section 414 of the Code. [Schedule Z, CA] 
 “ERISA Event” means (a) a
“Reportable Event” described in section 4043 of ERISA and the regulations issued thereunder, except for any such events for which the 30-day notice to the PBGC has been waived, (b) the withdrawal of the Company or any ERISA Affiliate
from a Plan during a plan year in which it was a “substantial employer” as defined in section 4001(a)(2) of ERISA, (c) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under
section 4041 of ERISA, (d) the institution of proceedings to terminate a Plan by the PBGC, (e) receipt of a notice of withdrawal liability pursuant to section 4202 of ERISA or (f) any other event or condition which is likely to result
in the termination of, or the appointment of a trustee to administer, any Plan under section 4042 of ERISA. [CA] 
 “Event
of Abandonment” means the cessation of operation of the Project or abandonment of development and/or construction of the Project for more than thirty (30) consecutive days, (which period (a) shall be measured from the first
occurrence of a work stoppage and continuing until work of a substantial nature is resumed and thereafter diligently continued and (b) shall be extended to the extent any cessation of operations or other abandonment results from any Force
Majeure Event, a Casualty Event, Prudent Practice or pursuant to Section 4.3 or Section 4.4 of the EPC Agreement). [CA] 
 “Excepted Liens” means: (a) Liens for Taxes, assessments or other governmental charges or levies which are not delinquent or which are being contested in accordance with the requirements
of the Credit Agreement; (b) Liens in connection with workers’ compensation, unemployment insurance or other social security, old age pension or public liability obligations which are not delinquent or which are being contested in
good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (c) statutory landlord’s liens, operators’, vendors’, carriers’, warehousemen’s, repairmen’s,
mechanics’, suppliers’, workers’, materialmen’s, construction or other like Liens arising by operation of law in the ordinary course of business each of which is in respect of obligations that are not delinquent or which are
being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP and are bonded or pledged or enforcement of which could not reasonably be expected to have a Material Adverse Effect;
(d) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies and burdening only deposit accounts or other funds maintained with a creditor
depository institution; provided, that no such deposit 

  

 - 20 - 

 
account is a dedicated cash collateral account or is subject to restrictions against access by the depositor in excess of those set forth by regulations
promulgated by the Board and no such deposit account is intended by the Company to provide collateral to the depository institution; (e) easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any
Property of the Company for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of gas, oil, coal, geothermal water or steam or other minerals or timber, and other like purposes, or for the
joint or common use of real estate, rights of way, facilities and equipment, that do not secure any monetary obligations and which in the aggregate do not materially impair the use of such Property for the purposes of which such Property is held by
the Company or materially impair the value of such Property subject thereto; (f) Liens on cash or securities pledged to secure performance of tenders, surety and appeal bonds, government contracts, performance and return of money bonds, bids,
trade contracts, leases, statutory obligations, regulatory obligations and other obligations of a like nature incurred in the ordinary course of business; (g) judgment and attachment Liens not giving rise to a Credit Agreement Event of Default;
(h) matters identified in that certain title policy as such policy has been approved by the Required Lenders, and (i) Capital Leases to the extent permitted by Section 6.1.7 of the Credit Agreement; provided, that
any appropriate legal proceedings which may have been duly initiated for the review of such judgment shall not have been finally terminated or the period within which such proceeding may be initiated shall not have expired and no action to enforce
such Lien has been commenced; provided, further, that Liens described in clauses (a) through (d) shall remain “Excepted Liens” only for so long as no action to enforce such Lien has been commenced. [ASA, CA]

 “Excess Distributable Cash” means Distributable Cash for any given quarter (before taking into account the
Management Fee Bonus for such quarter) above the amount of Distributable Cash set forth for said quarter in Schedule Y to the LLC Operating Agreement. 
 “Excluded Taxes” means, with respect to any Lender or any other recipient of any payment to be made by or on account of any obligation of the Company hereunder or under any Financing Document,
(a) sales, capital gain, income or franchise taxes imposed on it by the United States of America or such other jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any
Lender, in which its applicable lending office is located, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which the Company is located, and (c) in the case of a
Foreign Lender, any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to the Credit Agreement (or designates a new lending office) or is attributable to such Foreign
Lender’s failure to comply with Section 2.13.7 of the Credit Agreement except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment),
to receive additional amounts with respect to such withholding tax pursuant to Section 2.13 of the Credit Agreement. [CA, Schedule Z] 
 “Expert” has the meaning set forth in Section 6.5.2 of the EPC Agreement. [EPC, LLCA] 
 “Extended Expiration Date” has the meaning set forth in Section 8.1 of the O&M Agreement. [O&M, Schedule Z] 
  

 - 21 - 

 “Facility” means a
geothermal electricity generating plant with a net nameplate capacity rating of at least the Minimum Capacity Rating and all components related thereto, including fifty (50) PureCycle© 225 System geothermal power system turbines, components for the extraction and gathering of geothermal resources used in the operation of the Facility and components for the Delivery of electricity generated by the
Facility to the Delivery Point. For the avoidance of doubt, the Facility shall be comprised of the Equipment and Materials included within the EPC Assets and the Owner-Supplied Assets. [CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Facility Objectives” means (i) having at all times, in all material respects, the capacity and functional ability to
perform, on a continuing basis, the functions for which the Facility was designed and in accordance with the Project Design Book and Prudent Practices, (ii) satisfying the performance criteria set forth on Schedule C to the O&M
Agreement, as may be amended from time to time, (iii) having, procuring or otherwise obtaining the geothermal resources necessary to operate the Facility in accordance with the performance criteria set forth on Schedule C to the
O&M Agreement, and (iv) Delivering the electric energy generated by the Facility to the Delivery Point. [O&M] 
 “Facility Plan and Budget” means, with respect to the applicable Operating Year, an annual operating budget and capital budget, broken down on a monthly basis, setting forth in detail the following matters related to
the Facility: (A) anticipated operations, repairs and capital improvements (including any teardowns and major overhauls as separate budget items), (B) routine maintenance and overhaul schedules (including major maintenance),
(C) procurement (including equipment acquisitions and spare parts and consumable inventories indicating a breakdown of capital items and expense items), (D) staffing, personnel and labor activities (including unit rates for labor, hourly
rates for consultants who are not employees of the Operator or its Affiliates, and holidays to be observed), (E) administrative activities, and (F) data regarding other work proposed to be undertaken by Operator, together with an itemized
estimate, in detail reasonably acceptable to Owner, of all Reimbursable Costs to be incurred in connection therewith, together an annual operating plan setting forth underlying assumptions and implementation plans. [O&M] 
 “Facility Site” means the Permanent Parcels. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Facility Substantial Completion” has the meaning set forth in Section 6.2.1 of the EPC Agreement. [ASA,
CA, EPC, Schedule Z] 
 “Facility Substantial Completion Certificate” means the certificate substantially in the
form attached to the EPC Agreement as Exhibit D, as may be amended, restated or supplemented from time to time. [EPC, Schedule Z] 
 “Facility Substantial Completion Date” means the date upon which Facility Substantial Completion occurs in accordance with the requirements of the EPC Agreement. [CA, EPC, Schedule Z]
 
  

 - 22 - 

 “Federal Book-Entry Regulations” means (a) the federal regulations contained
in Subpart B (“Treasury/Reserve Automated Debt Entry System (TRADES)” governing Book-Entry Securities consisting of U.S. Treasury bonds, notes and bills) and Subpart D (“Additional Provisions”) of 31 C.F.R. Part 357, 31 C.F.R.
§ 357.10 through § 357.14 and § 357.41 through § 357.44 (including related defined terms in 31 C.F.R. § 357.2); and (b) to the extent substantially identical to the federal regulations referred to in clause
(a) above (as in effect from time to time), the federal regulations governing other Book-Entry Securities. [ASA] 
 “Federal Funds Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System
arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if that rate is not so published for any day that is a Business Day, Deutsche Bank Trust Company Americas Federal funds
broker rate of recognized standing selected by it. [CA] 
 “FERC” means the Federal Energy Regulatory
Commission or any successor thereto. [ECCA, LLCA, Schedule Z, CA] 
 “Final Completion” has the meaning set
forth in Section 6.3.1 of the EPC Agreement. [ASA, ECCA, EPC, O&M, Schedule Z, CA] 
 “Final
Completion Certificate” means the certificate substantially in the form attached to the EPC Agreement as Exhibit E, as may be amended, restated or supplemented from time to time. [EPC, Schedule Z] 
 “Final Completion Date” means the date upon which Final Completion occurs in accordance with the requirements of the EPC
Agreement. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Final Development Account Distribution
Date” has the meaning assigned in Section 3.9.3.5 of the Account and Security Agreement. [ASA, CA] 
 “Final Maturity Date” means December 31, 2026 or such earlier date on which a Credit Agreement Event of Default occurs and the Obligations are accelerated pursuant to Section 8.1 of the Credit
Agreement. [CA, Schedule Z] 
 “Financial Officer” means, for any Person, the chief financial officer,
principal accounting officer, treasurer or controller of such Person. Unless otherwise specified, all references in the Credit Agreement to a Financial Officer means a Financial Officer of the Company. [CA, Schedule Z] 
 “Financing Conversion Date” means the date on which the Lenders obtain all right, title and interest of the Class B Investors in
the membership interests of the Company pursuant to the Class B Investors Pledge Agreement. [EPC, O&M] 
 “Financing Expiration Date” means (a) when used in the EPC Agreement and the O&M Agreement, the later of (i) the date on which the aggregate principal amount, together with any accrued and
unpaid interest thereon, and any other amount due and payable under the 

  

 - 23 - 

 
Credit Agreement has been repaid in accordance with the terms and conditions thereof and the Commitments and the Financing Documents have been
terminated and (ii) the Flip Date and (b) when used in the Financing Documents, the date on which the aggregate principal amount, together with any accrued and unpaid interest thereon, and any other amount due and payable under the
Credit Agreement has been repaid in accordance with the terms and conditions thereof and the Commitments. [ASA, EPC, O&M] 
 “Fiscal Quarter” means any of the fiscal quarterly accounting periods of the Company, ending March 31, June 30, September 30, and December 31. [CA, Schedule Z] 
 “Fixed Charges” means, for any period, the sum, for the Company, of the following items during such period: (a) Interest
Expense to the extent actually paid in cash, (b) scheduled payments of principal of Debt, including under the Credit Agreement and (c) the portion of payments, other than optional payments, made under Capital Leases that should be
treated as payment of principal in accordance with GAAP. [Schedule Z] 
 “Fixed Tax Assumptions” means the
following assumptions: (1) the Class A Investors are and will be fully taxable at a thirty five percent (35%) federal income tax rate (and any state, local, foreign or other income taxes are inapplicable) and will be able to utilize
fully all regular federal income tax benefits allocated to them from the Company, (2) the Company is and will be the sole owner of the Project for federal income tax purposes, (3) the applicable depreciation periods, methods and
conventions are as set forth in the Equity Base Case Model; provided that such depreciation periods, methods and conventions shall not include the amounts allocated to particular assets, (4) the Company is classified as a partnership for
federal income tax purposes for all periods after the Effective Date, (5) so long as it is still a Member, the Class A Investors will be treated as partners for federal income tax purposes for all periods after the Effective Date and will
be subject to tax as partners, under Code Section 702 and subchapter K of Chapter 1 of the Code, upon their distributive shares of Company income, gain, loss, deduction and credit, and (6) the allocation of items of income, gain, loss,
deduction and credit among the Members shall be respected for federal income tax purposes; provided that this is an assumption only that the allocations in Article V of the LLCA will be respected under subchapter K of the Code and not
an assumption about the actual amounts and timing of income, gain, loss, deduction and credit, not an assumption about the opening Capital Account balances of the Members, not an assumption about how payments or distributions by the Company will be
characterized for tax purposes and their resulting effects on the Capital Accounts and outside bases of the Members, and not an assumption about the proper book recovery methods in cases where there is a book-tax disparity. [LLCA] 

“Flip Date” means the last day of the month in which the Class A Investors achieve an Internal Rate of Return equal to or
greater than the Target IRR. [LLCA] 
 “Flip Purchase Option” means the purchase option under
Section 9.7 of the LLC Operating Agreement. 
 “Force Majeure” or “Force Majeure
Event” means, with respect to any Agreement, an event or circumstance that affects a Party’s ability to perform its obligations under such Agreement to the extent such event or circumstance (a) intentionally omitted,
(b) was beyond the 

  

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reasonable control of such Party, (c) the effects of which are incapable of being prevented, overcome or mitigated by the reasonable efforts of such
Party and (d) did not result from the fault or negligence of the Party claiming Force Majeure. Such events or circumstances may include, but are not limited to, action or inaction of a governmental authority, acts of nature, drought, flood,
earthquake, tornado, hurricane, storm, fire, lightning, or other unusually severe weather, epidemic, war, riot, civil disturbance, unavailability of or disruption to transportation or transportation systems, or other natural disasters, embargo,
blockade, sabotage, terrorism, or the threat of such acts, explosions, strikes, boycotts, work slowdowns, or other labor disputes (it is understood that a strike, boycott, work slowdown, or other labor dispute directed at a Party shall not be deemed
a Force Majeure Event with respect to such Party), the existence of Hazardous Substance not caused by the Party claiming Force Majeure (which existence is not otherwise a violation or breach of such Agreement, including a breach of the
representations and warranties made herein), order or judgments of any governmental authority (other than the granting of Governmental Approvals), the absence, suspension, termination, interruption, delay, denial, or failure of renewal of any
Governmental Approval the procurement of which was or is not the responsibility of the Party claiming Force Majeure or for which application was duly and timely made by the responsible Party and in respect of which the affected Party is otherwise in
compliance, if applicable, a change of Applicable Law that materially prevents the affected Party from performing its obligations under the relevant Agreements, or other similar event, which, in each case, to the extent that such event materially
adversely affects or prevents a Party’s ability to perform its obligations under such Agreement and was not reasonably preventable or in the control of the Party claiming Force Majeure. Force Majeure Event includes, but is not limited to, the
failure of a contractor or supplier (other than the Contractor) to furnish labor, services, materials, or equipment in accordance with its contractual obligations; provided, that such failure is itself due to a Force Majeure Event. In no
instance shall any of the following be considered or constitute a Force Majeure Event: (i) availability of, or price levels or fluctuations with respect to labor, materials, services, supplies, equipment or other components related to items to
be procured, supplied or constructed by Contractor; (ii) economic hardship; (iii) lightning strikes that adversely affect the operation of Equipment and Materials powered by electricity; (iv) any delay or failure of Contractor to
obtain supplies, materials, equipment or other components for the Facility due to the delay or failure of any Person to perform any obligation owed to Contractor, unless such delay or failure is caused by an event of Force Majeure materially
adversely affecting such Person; (v) equipment failure unless such failure is caused by an independent event of Force Majeure; (vi) domestic and/or foreign transportation delays unless such delays are caused by an independent event of
Force Majeure, or (vii) Excluded Changes of Law. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Foreign
Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Company is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia
shall be deemed to constitute a single jurisdiction. [CA, Schedule Z] 
 “Former Real Property” has the
meaning specified in Section 4.6.1 of the Credit Agreement. [CA] 
 “Full Revenue QTD”
means the first Quarterly Transfer Date immediately following the first full Fiscal Quarter occurring after the Final Completion Date. [ASA] 
  

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 “Funding Failure” means the failure of the Lenders to make Advances in
non-compliance with the Credit Agreement. [EPC] 
 “FPA” means the Federal Power Act and the
regulations of the FERC thereunder. [ECCA, LLCA] 
 “GAAP” means generally accepted accounting principles in
the United States of America as in effect from time to time subject to the terms and conditions set forth in Section 1.3 of the Credit Agreement. [CA, ECCA, LLCA, Schedule Z] 
 “General Intangibles” (a) means all “general intangibles” as defined in Article 9 of the UCC and
(b) includes, without limitation, all interest rate or currency protection or hedging arrangements, all tax refunds, all licenses, permits, concessions and authorizations, all Assigned Agreements, all ASA Intellectual Property and all Payment
Intangibles (in each case, regardless of whether characterized as general intangibles under the UCC). [ASA, Schedule Z] 
 “Geothermal Resource and Energy Assessment Certificate” means a certificate issued by the Geothermal Engineer substantially in the form attached to the EPC Agreement as Exhibit C, as may be amended,
restated or supplemented from time to time by the Geothermal Engineer. [EPC] 
 “Goods” (a) means all
“goods” as defined in Article 9 of the UCC and (b) includes, without limitation, all Inventory and Equipment and any computer program embedded in the goods and any supporting information provided in connection with such program if
(x) the program is associated with the goods in such a manner that is customarily considered part of the goods or (y) by becoming the owner of the goods, a Person acquires a right to use the program in connection with the goods (in each
case, regardless of whether characterized as goods under the UCC). [ASA] 
 “Governmental Approval” as used in
any Agreement means any license, consent, permit, authorization, requirement, environmental plan, certificate, waiver, franchise, variance, order, decision, registration, ruling and other approval or permission necessary or appropriate, including as
to zoning, environmental protection, pollution, sanitation, energy regulation, safety, siting or building, to be obtained from any Governmental Authority having jurisdiction over or with respect to the applicable Party to such Agreement, the
transactions contemplated by such Agreement and the performance of the Parties thereunder. [CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Governmental Authority” as used in any Agreement means, with respect to any matter, any federal, state or local government or any political subdivision thereof, taxing authority, instrumentality, regulatory body,
agency, instrumentality, authority, department, commission, board or bureau thereof or any federal, state or local court, tribunal or arbitrator, including but not limited to any environmental agency, in each case, having jurisdiction over or with
respect to the applicable Party to such Agreement, the transactions contemplated by such Agreement and the performance of the Parties thereunder. [CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
  

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 “Gross Asset Value” means, with respect to any asset, the asset’s adjusted
tax basis for federal income tax purposes, except as follows: 
 (a) the initial Gross Asset Value of any asset contributed by a Member to the
Company will be the Gross Fair Market Value of such asset as of the date of contribution; provided, that the initial Gross Asset Value of the assets deemed contributed to the Company by IRP on the Effective Date will be the value agreed to by
IRP and MLE and reflected in Schedule 4.2(d) to the LLC Operating Agreement; 
 (b) the Gross Asset Values of all Company
assets shall be adjusted to equal their respective fair market values at the times listed in Section 4.2(c) of the LLC Operating Agreement; 
 (c) the Gross Asset Value of any item of Company assets distributed to any Member shall be adjusted to equal the Gross Fair Market Value of such asset on the date of distribution; 
 (d) the Gross Asset Values of all Company assets shall be adjusted to reflect any adjustments to the adjusted basis of such assets pursuant to
Sections 734(b) or 743(b) of the Code, but only to the extent that such adjustments are required to be taken into account in determining Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m); provided,
however, that Gross Asset Values shall not be adjusted pursuant to this subsection (d) to the extent that the Managing Member determines that an adjustment pursuant to subsection (b) is necessary or appropriate in connection with a
transaction that would otherwise result in an adjustment pursuant to this subsection (d); and 
 (e) if the Gross Asset Value of an
asset has been determined or adjusted pursuant to subsection (a), (b) or (d) above, such Gross Asset Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset. [LLCA] 
 “Gross Project Revenues” means all payments to the benefit of the Company (determined on an actual receipts basis), including
(a) all payments made under the Project Documents, (b) interest, dividend and other income in respect of sums standing to the credit of the Security Accounts, (c) any proceeds of any business interruption, delay-in-start-up or loss of
profit insurance, (d) any refunds of tax of any kind, and (e) any other income, receipts or gains (including any such income, receipts or gains as are of a non-recurring or extraordinary nature) from whatever source (other than pursuant to
the Financing Documents except as provided in clause (b) hereof) and whether or not attributable to the Project; provided, that notwithstanding the foregoing, (i) interest, dividends and other income paid or deposited into the
Distribution Account shall not constitute “Gross Project Revenues”, and (ii) equity investments in the Company other than (A) the Capital Contribution Commitment and (B) equity investments made in accordance with the proviso
of Section 5.2.2 of the Credit Agreement shall not constitute “Gross Project Revenues.” [ASA, CA, Schedule Z] 
 “Guaranteed Final Completion Date” means the earlier of (i) one hundred and eighty (180) calendar days after the Facility Substantial Completion Date and (ii) June 15, 2009. [ASA, CA,
EPC, O&M, Schedule Z] 
  

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 “Hazardous Material” means any petroleum or petroleum product (including but not
limited to waste petroleum), contaminant, chemical product or intermediate, chemical by-product, flammable material, explosive, radioactive substances, asbestos in any form, urea formaldehyde foam insulation, polychlorinated biphenyls, or other
chemicals defined in Environmental Laws as hazardous substances, hazardous wastes, extremely hazardous wastes, solid wastes, toxic substances, pollutants or contaminants. [CA, ECCA, EPC, O&M, Schedule Z, CA] 
 “Highest Lawful Rate” means, with respect to each Lender, the maximum nonusurious interest rate, if any, that at any time or from
time to time may be contracted for, taken, reserved, charged or received on the Obligations under laws applicable to such Lender which are presently in effect or, to the extent allowed by law, under such Applicable Laws which may hereafter be in
effect and which allow a higher maximum nonusurious interest rate than Applicable Laws allow as of the Effective Date. [CA] 
 “Historical DSCR” means, with respect to any Quarterly Transfer Date, the
DSCR for the four Fiscal Quarter periods ending on the last day of the full Fiscal Quarter immediately preceding such Quarterly Transfer Date; provided, that (a) for the first full Fiscal Quarter occurring after the Final Completion
Date, “DSCR” shall mean the “DSCR” for such Fiscal Quarter then ending multiplied by four, (b) for the second full Fiscal Quarter occurring after the Final Completion Date, “DSCR” shall mean the “DSCR”
for such two Fiscal Quarters then ending multiplied by 2, and (c) for the third full Fiscal Quarter after the Final Completion Date, “DSCR” shall mean the “DSCR” for such three Fiscal Quarters then ending multiplied by  4/3. [CA, Schedule Z] 
 “Indemnified Claims” has the meaning set forth in Section 7.1 of the Equity Capital Contribution Agreement. [ECCA] 
 “Indemnification Notice” has the meaning set forth in Section 7.3(a) of the Equity Capital Contribution
Agreement. [ECCA] 
 “Independent Accounting Firm” means an accounting firm that is acceptable to a
majority of the Class A Investors and the Class B Investors. 
 “Independent Engineer Reports” means the
reports and certifications delivered by the Independent Engineer pursuant to Article VI of the EPC Agreement. [CA] 
 “Initial Expiration Date” has the meaning set forth in Section 8.1 of the O&M Agreement. [O&M, Schedule Z] 
 “Instruments” means all “instruments” as defined in Article 9 of the UCC. [ASA] 
 “Insurance” means: (a) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral
Agent is the loss payee thereof) and (b) any key man life insurance policies. [ASA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Insurance Consultant’s Report” means the report of the Insurance Consultant which confirms that the insurance coverages for both the construction and operation periods of the 

  

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Project comply with the insurance requirements of Section 5.12 of the Credit Agreement. [Schedule Z] 
 “Intellectual Property” means, as to the Company, the Company’s now owned and hereafter arising or acquired: patents, patent
rights, patent applications, copyrights, works which are the subject matter of copyrights, copyright applications, copyright registrations, trademarks, servicemarks, trade names, trade styles, trademark and service mark applications, and licenses
and rights to use any of the foregoing and all applications, registrations and recordings relating to any of the foregoing as may be filed in the United States Copyright Office, the United States Patent and Trademark Office or in any similar office
or agency of the United States, any State thereof, any political subdivision thereof or in any other country or jurisdiction, together with all rights and privileges arising under Applicable Law with respect to the Company’s use of any of the
foregoing; all extensions, renewals, reissues, divisions, continuations, and continuations-in-part of any of the foregoing; all rights to sue for past, present and future infringement of any of the foregoing; inventions, trade secrets, formulae,
processes, compounds, drawings, designs, blueprints, surveys, reports, manuals, and operating standards; goodwill (including any goodwill associated with any trademark or servicemark, or the license of any trademark or servicemark); customer and
other lists in whatever form maintained; trade secret rights, copyright rights, rights in works of authorship; software and contract rights relating to computer software programs, in whatever form created or maintained. [ASA, CA, ECCA, Schedule
Z] 
 “Interconnection Assets” has the meaning set forth in Article XI of the Account and Security Agreement.
[ASA] 
 “Interest” means the interest of a Member in the Company, including rights to distributions
(liquidating or otherwise), allocations, and to vote, consent or approve, if any. [CA] 
 “Interest Expense”
means, for any period, the aggregate interest expense for the Company. [Schedule Z] 
 “Internal Rate of
Return” means the discount rate that sets A equal to B, where A is the present value of (a) the Production Tax Credits allocated to the Class A Investors, plus (b) the tax savings from tax losses or deductions
allocated to the Class A Investors (excluding any such losses or deductions that are suspended under section 704(d) of the Code but only for the period that the losses or deductions are suspended), plus (c) the cash distributed to
the Class A Investors, including any Buy-Down LLC Redemption Amount, plus (d) any indemnity payments by IRP to MLE under Article VII of the Equity Capital Contribution Agreement that compensate for loss of any item
listed in the foregoing clauses (a), (b) and (c), minus (e) the tax detriment from any taxable income or gain allocated to the Class A Investors by the Company and from any gain recognized by the Class A Investors under
section 731(a) of the Code (including after a deemed cash distribution caused by a shift in how liabilities are shared in the outside bases of the Members on the Flip Date), and B is the present value of the Capital Contributions made by MLE on the
both the Effective Date and the Second Funding Date. However, if the Flip Purchase Option is exercised, when the parties calculate the minimum Purchase Price the Class A Investors require to reach or maintain the Target IRR, the tax detriment
taken into account under clause (e) will include taxes on gain on the sale of the Class 

  

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A Interests. Section 6.5(c) of the LLC Operating Agreement has a list of other assumptions and conventions that will be used when
calculating the Internal Rate of Return. [LLCA, Schedule Z] 
 “Inventory” means, with respect to the Company:
(a) all “inventory” as defined in the UCC and (b) all goods held for sale or lease or to be furnished under contracts of service or so leased or furnished, all raw materials, work in process, finished goods, and materials used or
consumed in the manufacture, packing, shipping, advertising, selling, leasing, furnishing or production of such inventory or otherwise used or consumed in the Company’s business; all goods in which the Company has an interest in mass or a joint
or other interest or right of any kind; and all goods which are returned to or repossessed by the Company, all computer programs embedded in any goods and all accessions thereto and products thereof (in each case, regardless of whether characterized
as inventory under the UCC). [ASA, Schedule Z] 
 “Investment” means, for any Person: (a) the acquisition
(whether for cash, Property, services or securities or otherwise) of Equity Interests of any other Person or any agreement to make any such acquisition (including, without limitation, any “short sale” or any sale of any securities at a
time when such securities are not owned by the Person entering into such short sale); (b) the making of any deposit with (other than deposits to Deposit Accounts in the ordinary course of business), or advance, loan or capital contribution to,
assumption of Debt of, purchase or other acquisition of any other Debt or equity participation or interest in, or other extension of credit to, any other Person (including the purchase of Property from another Person subject to an understanding or
agreement, contingent or otherwise, to resell such Property to such Person, but excluding any such advance, loan or extension of credit having a term not exceeding ninety (90) days representing the purchase price of inventory or supplies sold
by such Person in the ordinary course of business); (c) the purchase or acquisition (in one or a series of transactions) of Property of another Person that constitutes a business unit or (d) the entering into of any guarantee of, or other
contingent obligation (including the deposit of any Equity Interests to be sold) with respect to, Debt or other liability of any other Person and (without duplication) any amount committed to be advanced, lent or extended to such Person. [ASA,
CA, EPC, Schedule Z] 
 “Investment Related Property” means: (a) all “investment property” (as
such term is defined in Article 9 of the UCC) and (b) all of the following (regardless of whether classified as investment property under the UCC): all Pledged Equity Interests, Pledged Debt, the Collateral Account, Securities Accounts,
Commodities Accounts, Deposit Accounts and certificates of deposit. [ASA, Schedule Z] 
 “IRS” means the
Internal Revenue Service or any successor agency. [ECCA, LLCA, Schedule Z] 
 “Knowledge” of Raser, IRP or the
Company means the actual knowledge of Brent M. Cook, Martin F. Petersen, Richard D. Clayton and Sean McBride. [ECCA] 
 “kW” means kilowatt, a unit of measurement of electric energy output that is equivalent to one-thousand watts. 
 “Late Payment Rate” means the Prime Rate plus 2.0%. [O&M] 
  

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 “Leases” means, collectively as of any date, the Permanent Parcels, the
Collateral Parcels and the Resource Support Parcels, but excluding the Released Assets as of such date. [ECCA, Schedule Z] 
 “Lender Indemnitees” means, collectively, Lenders and their respective shareholders, partners, Affiliates, employees, representatives and agents, together with their successors and assigns. [CA] 
 “Lenders” means each of the lenders that is an initial signatory to the Credit Agreement or that, pursuant to
Section 16.2 of the Credit Agreement, becomes a “Lender” under the Credit Agreement. [ASA, CA, ECCA, O&M, Schedule Z] 
 “Lending Office” means, with respect to any Lender, the office of such Lender specified as its “Lending Office” opposite its name on Schedule A to the Credit Agreement
or in the Assignment and Acceptance pursuant to which it became a Lender, or such other office of such Lender as such Lender may from time to time specify to the Company and the Administrative Agent. [CA] 
 “Letter of Credit Right” has the meaning specified in Article 9 of the UCC. [ASA] 
 “Liability” means, with respect to any Person, any liability, expense or obligation of such Person of any kind, character or
description, whether known or unknown, absolute or contingent, accrued or unaccrued, disputed or undisputed, liquidated or unliquidated, secured or unsecured, joint or several, due or to become due, vested or unvested, executory, determined,
determinable or otherwise. [ECCA, LLCA, O&M] 
 “Lien” means any security interest, community or other
material property interest, pledge, mortgage, option, lien (including environmental and Tax liens), assessment, lease, charge, encumbrance, claim, preferential arrangement, condition, equitable interest, license, right-of-way, easement,
encroachment, right of first refusal, buy/sell agreement or any other restriction of any kind, including any restriction or covenant with respect to, or condition governing, the use, voting, transfer, receipt of income or other exercise of any
attributes of ownership. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “LLC Act” means the Delaware
Limited Liability Company Act, 6 Del. Code §§ 18.101 et. seq., as amended from time to time, and any successor to such Act. [ECCA, LLCA] 
 “Loss Proceeds” means (a) any proceeds from insurance (other than business interruption, delay-in-startup or loss of profit insurance) or other funds paid to compensate the Company for
damage or loss to the Project or any portion thereof including, without limitation , in connection with any Casualty Event. [ASA, CA] 
 “Loss Proceeds Withdrawal Request” has the meaning specified in Section 2.6.1.2(7) of the Credit Agreement. [CA] 
 “Maintenance Reserve Account” means the Maintenance Reserve Account set forth Section 2.1.1 of the Account and
Security Agreement. [ASA]. 
  

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 “Maintenance Reserve Required Balance” means in respect of a Fiscal Quarter, the
amount corresponding to such Fiscal Quarter as set forth on Schedule 2B of the Account and Security Agreement. [ASA, Schedule Z] 
 “Maintenance Reserve Withdrawal Request” means a Maintenance Reserve Withdrawal Request substantially in the form of Exhibit I of the Account and Security Agreement, duly executed
and delivered by all required signatories thereto. [ASA] 
 “Maintenance Standards” means with respect to any
O&M Services (i) compliance with all terms and conditions of the O&M Agreement and the Project Documents, including the warranty provisions relating to the Facility and the components thereof, (ii) compliance with the
Annual Operating Plan and Budget, (iii) compliance with all Applicable Laws, including Environmental Laws, and Governmental Approvals, (iv) the provision and performance all O&M Services in conformity with Prudent Practices and causing
the Facility to be in good working order in compliance with Prudent Practices, (v) compliance with the O&M Manual and all technical and operational guidelines and specifications relating to the Facility and the components thereof,
(vi) compliance with the terms and conditions of all insurance policies relating to the Facility and the Facility Site, (vii) performing such O&M Services in a manner to cause the Facility to be in at least as good a condition and
working order upon termination of the O&M Agreement as when the Facility and Facility Site were delivered to Operator under the O&M Agreement, ordinary wear and tear excepted, (viii) performing such O&M Services in a
manner to optimize of the useful life of the Facility, (ix) minimization of damage to the Facility and Facility downtime, (x) performing such O&M Services in a manner to minimize Reimbursable Costs under the O&M Agreement
and (xi) performing such O&M Services in the best interests of Owner and the Facility Objectives. [O&M] 
 “Major Decisions” means: 
 With respect to the Pre-Flip Period, any of the following: 
  

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 (a) Except for Debt under the Financing Document and customary unsecured trade payables incurred in the
ordinary course of business, incurring in any single transaction or in any series of related transactions Debt (including any Working Capital Loans made pursuant to Section 4.5 of the LLC Operating Agreement) such that the amount
of such Debt (excluding Debt under the Financing Documents and customary unsecured trade payables incurred in the ordinary course of business) outstanding at any point of time is in excess of $2,500,000; 
 (b) Entering into any (i) transaction between the Company and any Member or any Affiliate of a Member, other than any such transaction expressly
provided for in any of the Operative Documents, or (ii) amendment, modification or termination of any transaction between the Company and any Member, or any Affiliate of a Member provided for in any Operative Document; 

	(c)	Appointment of a new Managing Member or Operator; 

 (d)
Approving any Annual Operating Plan and Budget or any amendments or modifications thereto as provided in Section 6.1 of the O&M Agreement or as required pursuant to Section 7.2 of the LLC Operating
Agreement; 
 (e) Approving expenditures of more than $50,000 in the aggregate in a calendar year under the O&M Agreement, or
other similar agreement, that are not otherwise provided for in the Annual Operating Plan and Budget; 
 (f) Initiating any litigation or
arbitration, or settling claims, litigation or arbitration by or with respect to the Company if, as a result of such settlement, the Company would be obligated to pay more than $100,000, in the aggregate; 
 (g) Assuming, guaranteeing or becoming obligated for the payment of money or the performance of any contract or other obligation of any Person in excess
of $250,000 in the aggregate; 
 (h) Making any tax election, except as expressly provided for in the LLC Operating Agreement;

 (i) Causing the Company to be treated other than as a partnership for United States federal income tax purposes (including by electing
under Treasury Regulations Section 301.7701-3 to be classified as an association); 
 (j) Entering into (i) any material amendment,
modification, waiver, termination or replacement of the Company’s Certificate of Formation or of any Operative Document (other than this Agreement which requires the consent of all of the Members) or failing to enforce any provision of any
Operative Document if such amendment, modification, termination or failure would have a Material Adverse Effect on the Company or the Class A Investors; (ii) any additional Operative Document; or (iii) any new agreement with an
Affiliate of a Member or amending any economic provision of any existing contract with any such Affiliate; 
 (k) Permitting
(i) possession of property of the Company by any Member (unless such action is taken pursuant to the express terms of any Operative Document), (ii) the assignment, 

  

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transfer or pledge of rights of the Company in specific property of the Company for other than a Company purpose or other than for the benefit of the
Company, or (iii) any commingling of the funds of the Company with the funds of any other Person; 
 (l) Amending, modifying,
terminating or permitting the expiration of, any material license and permit required for the operation, ownership, management or maintenance of the Facility or the sale or transmission of power therefrom; 
 (m) Making any distribution to any Member except as specified in the LLC Operating Agreement; 
 (n) Making any advance payment of compensation or other consideration to the Managing Member or any of its Affiliates; 
 (o)(i) Merging or consolidating the Company with any Member or other Person, (ii) changing the Company’s legal form; or recapitalizing,
liquidating, winding up or dissolve the Company, (iii) agreeing to an exchange of interests with any other Person, or (iv) acquiring all or substantially all of the assets or stock of any other Person; 
 (p) Admitting any additional Member of the Company except as permitted under Article IX of the LLC Operating Agreement; 
 (q) Except as otherwise specified in LLC Operating Agreement, causing the Company to (i) sell or issue any interest, or any option, warrant
or similar right to acquire any interest, of any kind in the Company, or (ii) distribute any Assets of the Company or redeem, purchase or otherwise acquire any interest in the Company, 
 (r) Causing the Company to engage in any business or activity that is not within the purpose of the Company, as described in Section 2.3 of
the LLC Operating Agreement, or to change such purpose; 
 (s) Allowing any Turbine to be modified or replaced or well to be shut
down; 
 (y) Causing or permitting the Company to receive or use any grant, tax-exempt financing, subsidized energy financing, or other
federal credits, each within the meaning of Section 45(b)(3) of the Code; 
 (t) Causing the Company to file a voluntary petition in
bankruptcy, or file any petition or answer or consent seeking any reorganization, arrangement, moratorium, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future Applicable Laws relating to
bankruptcy, insolvency or other relief for debtors, or seek or consent to the appointment of any trustee, receiver, conservator or liquidator of such Person or of all or any substantial part of its properties; 
 (u) Causing the Company (i) to admit in writing its inability to pay its debts as they mature, (ii) to give notice to any Governmental
Authority of insolvency or pending insolvency, or suspension or pending suspension of operations or (iii) to make a general assignment for the benefit of creditors or take any other similar action for the protection or benefit of creditors;

  

 - 34 - 

 (v) Selling, leasing or otherwise voluntarily disposing of assets of the Company with an aggregate fair
market value in excess of $2,500,000 during any 12-month period, other than sales of energy and related environmental attributes under approved contracts or as part of an approved course of conduct; 
 (w) Causing or permitting any Encumbrance or grant of any Encumbrance on the assets or rights of the Company, other than Permitted Liens; 
 (x) Changing the method of tax accounting used by the Company to the extent any such change would have an adverse effect on eligibility to claim
Production Tax Credits or on the timing or amount of depreciation allowances; 
 (y) Causing or permitting the Company to hire any employees
or establish or participate in any employee benefit plans; 
 (z) Causing or permitting the Company to make loans to third parties; and

 (aa) Causing or permitting the Company to engage in any speculative energy trading, including trading of financial contracts, such as
swaps or derivatives that may be subject to FAS 133 accounting rules. 
 With respect to the period following the Flip Date, the matters in
paragraphs (o), (q), (t) and (v) above. [LLCA] 
 “Majority Vote” shall have the meaning set
forth in Section 3.2(f) of the LLC Operating Agreement. [LLCA] 
 “Make-Whole Amount”
means, with respect to any Advance, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Advance over the amount of such Called Principal; provided,
that the Make-Whole Amount may in no event be less than zero. [ASA, CA, Schedule Z] 
 “Management Fee” means
a quarterly fee payable to the Managing Member pursuant to Section 8.3 of the LLC Operating Agreement which will be payable at the end of each quarter in a Fiscal Year to the extent of available funds before any distribution of
Distributable Cash for such quarter and cumulative from quarter to quarter. The Management Fee shall be calculated as the sum of: (i) $500,000 per Fiscal Year for the initial Fiscal Year commencing on the Effective Date of the LLC Operating
Agreement (or prorated portion thereof if such initial Fiscal Year is less than twelve months), and escalating thereafter by two and a half percent (2.5%) per year; and (ii) the Management Fee Bonus. [ASA, CA, LLCA] 

“Management Fee Bonus” the Management Fee Bonus shall be paid to the Managing Member to provide an incentive to the Manager to
increase the megawatts generated at the Facility and to decrease the expenses of operating the Facility. The Management Fee Bonus shall be the lesser of (i) $1,000,000 per Fiscal Year or (ii) the sum of (A) the positive difference (if
any) between the amount set forth for property taxes on Schedule Y of the LLC Operating Agreement in any given year and the amount of actual property taxes paid for such year, which 

  

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amount shall be payable in one sum in the quarter in which property taxes are paid or would have been paid had there been a property tax burden; and
(B) 75% of the Excess Distributable Cash. 
 “Material Adverse Effect” means, with respect to the Company, a
material adverse change in, or material adverse effect on (a) the business, operations, Property, liabilities (actual or contingent) or financial condition of the Company, (b) the ability of the Company to perform any of its obligations
under any Financing Document or Project Document to which it is a party, (c) the validity or enforceability of any Financing Document, (d) the rights and remedies of or benefits available to any Lender under any Financing Document or
(e) completion of the Project on a timely basis as contemplated by the Project Budget and the Project Schedule. [CA, ECCA, Schedule Z] 
 “Material Indebtedness” means Debt (other than the Obligations) of the Company in an aggregate principal amount exceeding $250,000. [CA, ECCA] 
 “Material Project Party” means any party to an Operative Document, but only, in each case, upon or prior to the expiration or
early termination of the relevant Operative Document; provided, however, that the Lenders, Administrative Agent, Class A Investors, Class C Investor and the Collateral Agent shall not be Material Project Parties. [CA, ECCA]
 
 “Material Receivable” means any Receivable with an aggregate value in excess of $100,000. [CA]

 “Member Nonrecourse Debt” means “partner nonrecourse debt” as defined in Treasury Regulation
Section 1.704-2(b)(4). An example is where a Member or a person related to the Member makes a loan on a nonrecourse basis to the Company. [LLCA] 
 “Membership Interests” means the Class A Interests, the Class B Interests and the Class C Interests. [LLCA] 
 “Milestone(s)” means each event or condition identified as a “Milestone” in the Project Schedule attached as
Schedule F to the EPC Agreement. [CA, EPC, Schedule Z] 
 “Milestone Payment” means each payment
amount associated with each Milestone set forth in Schedule F to the EPC Agreement. [EPC, Schedule Z] 
 “Milestone Payment Request” has the meaning set forth in Section 5.1.2 of the EPC Agreement. [EPC] 
 “Milestone Payment Schedule” means the integrated schedule setting forth Milestones and the portion of the Contract Price payable with respect thereto, as set forth in Schedule F of the
EPC Agreement. [EPC] 
 “Milestone Progress Report” means a progress report containing the information
required by Section 2.3.2 of the EPC Agreement and submitted substantially in the form attached as Exhibit B of the EPC Agreement. [EPC] 
 “Minimum Capacity Rating” means 6.0 MW. [EPC, Schedule Z] 
  

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 “Minimum Debt Service Reserve” means, as of the date of determination, an amount
equal to the maximum projected debt service payments for the Project over the next immediately succeeding six (6) month period, which amount may be funded by an Approved Reserve Letter of Credit. [ASA, Schedule Z] 
 “Minimum DSCR” is 1.20:1.0. [CA, Schedule Z] 
 “Minimum Gain Attributable to Member Nonrecourse Debt” means the amount of minimum gain there is in connection with a Member
Nonrecourse Debt, calculated in the manner described in Treasury Regulation Section 1.704(i)(3). [LLCA] 
 “MLE
Indemnified Costs” has the meaning set forth in Section 9.1 of the Equity Capital Contribution Agreement. [ECCA] 
 “MLE Indemnified Parties” has the meaning set forth in Section 9.1 of the Equity Capital Contribution Agreement. [ECCA] 
 “Money” means “money” as defined in the UCC. [ASA] 
 “Moody’s” means Moody’s Investor Services, Inc. [Schedule Z] 
 “Multiemployer Plan” means a Plan which is a multiemployer plan as defined in section 3(37) or 4001 (a)(3) of ERISA. [CA]

 “MW” means megawatt, a unit of measurement for electric energy output that is equivalent to one million watts.
[EPC, ECCA, Schedule Z] 
 “Net Cash Flow” means, with respect to any measurement period, Gross Project
Revenues for such measurement period, less (i) Reimbursable Costs (excluding any Special Project Document Payments), Base Fee, the Owner Maintenance Agreement Payments, O&M Site Document Payments, and O&M Other Payments, for such
measurement period, less (ii) Debt Service for such measurement period. [Schedule Z] 
 “Non-Interference
Certificate” means the certificate substantially in the form attached to the LLC Agreement as Exhibit F, as may be amended, restated or supplemented from time to time. [LLCA] 
 “Nonrecourse Deduction” means a deduction for spending that is funded out of nonrecourse borrowing by the Company or that is
otherwise attributable to a “nonrecourse liability” of the Company within the meaning of Treasury Regulation Section 1.704-2. [LLCA] 
 “Note” means a promissory note evidencing the indebtedness owed to a Lender under the Credit Agreement. [CA] 
 “Notice” has the meaning set forth in Section 11.1 of the LLC Operating Agreement. [ASA, CA, LLCA,
O&M] 
  

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 “Notice of Dispute” has the meaning set forth in Section 9.7 of the
LLC Operating Agreement. [LLCA] 
 “Notice of Facility Substantial Completion” means the notice
substantially in the form attached to the EPC Agreement in Exhibit F, as may be amended, restated or supplemented from time to time. [EPC] 
 “Notice of Final Completion” means the notice substantially in the form attached to the EPC Agreement in Exhibit G, as may be amended, restated or supplemented from time to time.
[EPC] 
 “O&M Commencement Date” means the earlier of (i) the Facility Substantial Completion Date
and (ii) the Required Turbine Substantial Completion Date. [O&M]  
 “O&M Covered Costs” means
those fees, costs and expenses customarily attributed to overhead relating to the Operator’s conduct of its business of operating facilities similar to the Facility, including fees, costs and expenses relating to employees of the Operator that
are primarily engaged in business and activities other than on the Facility Site or with respect to the Facility. [O&M] 
 “O&M Due Date” means the date that is the 15th day of each February, May, August and November, unless such day is not a Business Day, then the Business Day next following commencing with the first O&M
Due Date occurring after the O&M Commencement Date. [O&M] 
 “O&M Liability Cap” means, with
respect to any Operating Year, an amount equal to the Base Fee for such Operating Year. [O&M] 
 “O&M
Manual” has the meaning set forth in Section 2.2.24 of the EPC Agreement. [CA, EPC, Schedule Z] 
 “O&M Other Payment” has the meaning set forth in Section 7.6 of the O&M Agreement. [O&M] 
 “O&M Services” mean all services and other obligations required to be provided by Operator under the O&M Agreement as described in Section 2.1 of the O&M
Agreement. [O&M] 
 “O&M Site Document Payment” has the meaning set forth in
Section 7.5 of the O&M Agreement. [O&M] 
 “O&M Subcontract” means any contract
for the provision or performance of any part of the O&M Services or the supply of any supplies, equipment, materials or other components in connection with the same, other than the O&M Agreement. [O&M, Schedule Z]

 “O&M Subcontractor” means each counterparty to an O&M Subcontract other than the Operator. [O&M,
Schedule Z] 
  

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 “O&M Termination Payment” means $90,000. [O&M] 
 “Obligations” means, without double counting, all present and future obligations and liabilities of the Company to the Agents and
the Lenders at any time and from time to time of every kind, nature and description, direct or indirect, secured or unsecured, joint and several, absolute or contingent, due or to become due, matured or unmatured, now existing or hereafter arising,
contractual or tortious, liquidated or unliquidated, in each case arising under any of the Financing Documents, including, without limitation, interest, all applicable fees, charges and expenses or all amounts paid or advanced by the Agents or the
Lenders on behalf of or for the benefit of the Company for any reason at any time, including in each case obligations of performance as well as obligations of payment and interest that accrue after the commencement of any proceeding under any Debtor
Relief Law by or against any such Person or its properties. [ASA, CA, EPC, O&M, Schedule Z] 
 “Officers”
has the meaning set forth in Section 8.7 of the LLC Operating Agreement. [LLCA] 
 “Operating
Year” means (i) in the case of the calendar year in which the O&M Commencement Date occurs, the period from and including the O&M Commencement Date to and including December 31st of such year, (ii) in the case of
each succeeding calendar year, the period from and including January 1st of each such calendar year to and including December 31st of each such succeeding calendar year and (iii) in the case of the calendar year in which termination
or expiration of the O&M Agreement occurs, the period from and including January 1st of such calendar year to the date upon which the O&M Agreement terminates or expires. [CA, O&M, Schedule Z] 
 “Operations Report” means the reports described in Section 2.7 of the O&M Agreement. [LLCA]

 “Operator Event of Default” shall have the meaning set forth in Section 8.2 of the O&M
Agreement. [O&M] 
 “Operator Indemnitees” means, collectively, Operator and its respective
shareholders, partners, Affiliates, employees, representatives and agents, together with their successors and assigns. [O&M] 
 “Operator’s Personnel” means, collectively, Operator, its employees, agents, Affiliates, any Person acting under or at the direction of the Operator and any O&M Subcontractors and their respective employees,
agents and subcontractors, together with their successors and assigns. [O&M] 
 “Ordinary Cash Trap
Amount” means, with respect to a Quarterly Transfer Date, the amount of Net Cash Flow set forth in the below chart: [ASA, CA] 
  

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	 Level
	  	 DSCR Range (for historic and projected DSCR)
	  	 Ordinary Cash Trap Amount

	Level I	  	Less than 1.40:1.00, but greater than 1.30:1.00	  	50% of Net Cash Flow for the Fiscal Quarter immediately preceding such Quarterly Transfer Date
			
	Level II	  	Less than or equal to 1.30:1.00, but greater than 1.20:1.00	  	75% of Net Cash Flow for the Fiscal Quarter immediately preceding such Quarterly Transfer Date
			
	Level III	  	Less than or equal to 1.20:1.00	  	100% of Net Cash Flow for the Fiscal Quarter immediately preceding such Quarterly Transfer Date

 “Ordinary Cash Trap Period” means any Fiscal Quarter after Final
Completion for which (a) the Historical DSCR that corresponds to the Quarterly Transfer Date occurring during such Fiscal Quarter (as calculated under Section 5.2 of the Credit Agreement) is less than the Target DSCR, or
(b) the Projected DSCR that corresponds to the Quarterly Transfer Date occurring during such Fiscal Quarter (as calculated under Section 5.2 of the Credit Agreement) is less than the Target DSCR, and for each consecutive
Fiscal Quarter thereafter for which any of the conditions set forth in clauses (a) or (b) are in effect. [ASA, CA, Schedule Z] 
 “Original Equity Base Case Model” means the Equity Base Case Model attached as Schedule I to the EPC Agreement as of the Effective Date in electronic form. [Schedule Z] 
 “Organizational Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the
bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and
(c) with respect to any partnership, joint venture, trust or other form of business entity, 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 of such
entity. [CA, ECCA] 
 “Other Taxes” has the meaning specified in Section 2.13.2 of the Credit
Agreement. [CA] 
 “Owner Construction Agreements” means all documents, agreements or other arrangements
relating to the provision, procurement or construction of any Owner-Supplied Assets, as the same may be amended, modified, supplemented or restated from time to time in 

  

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accordance with their terms, which Owner Construction Agreements entered into as of the Effective Date of the EPC Agreement are set forth on
Schedule C of the EPC Agreement; provided, that the EPC Agreement shall not be deemed an Owner Construction Agreement for any purpose hereunder. [EPC, O&M, Schedule Z] 
 “Owner Construction Agreement Payment” has the meaning set forth in Section 5.2.1 of the EPC Agreement.
[EPC] 
 “Owner Construction Agreement Shortfall” means, prior to Final Completion, the amount by which the
aggregate amount then due and payable as of such date under all of the Owner Construction Agreements (other than with respect to indemnity and liability obligations thereunder for which Owner has procured insurance) exceeds the Budget
Commitment. [EPC] 
 “Owner Indemnitees” means, collectively, Owner and its respective shareholders, partners,
Affiliates, employees, representatives and agents, together with their successors and assigns. [EPC, O&M] 
 “Owner
Maintenance Agreements” means those documents, agreements or other arrangements relating to the performance and provision of Owner-Supplied Maintenance Services which Owner enters into directly with the provider thereof, as the same may
be amended, modified, supplemented or restated from time to time in accordance with their terms, which Owner Maintenance Agreements are identified on Schedule A to the O&M Agreement, as such schedule may be amended from time to
time in accordance with the O&M Agreement; provided, that the O&M Agreement shall not be deemed an Owner Maintenance Contract for any purpose hereunder. [O&M, Schedule Z] 
 “Owner Maintenance Agreement Payment” has the meaning set forth in Section 7.4 of the O&M Agreement.
[O&M] 
 “Owner-Supplied Assets” means all Services and Equipment and Materials identified or otherwise
described in Exhibit C to the EPC Agreement. [EPC, O&M, Schedule Z] 
 “Owner-Supplied Maintenance
Services” means all services relating to the operation, maintenance and administration of the Facility performed or provided pursuant to Owner Maintenance Agreements; provided, that the services provided under the O&M
Agreement shall not be deemed Owner-Supplied Maintenance Services for any purpose hereunder. [O&M, Schedule Z] 
 “Owner Termination Payment” has the meaning set forth in Section 13.2.1 of the EPC Agreement. [EPC] 
 “Parent” means, if applicable to a Member, the Person or Persons that directly or indirectly control such Member. [Schedule Z] 
 “Party” means, with respect to any Agreement as used therein, each signatory to such Agreement, together with its successors and
assigns. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
  

 - 41 - 

 “Patent Licenses” means all agreements providing for the granting of any right in
or to Patents (whether the Company is licensee or licensor) including, without limitation, each agreement referred to in Schedule 6.6(D) of the Account and Security Agreement (as amended or supplemented from time to time). [ASA,
Schedule Z] 
 “Patents” means all United States, state and foreign patents and applications for letters patent
throughout the world, including, but not limited to each patent and patent application referred to in Schedule 6.6(C) of the Account and Security Agreement (as amended or supplemented from time to time), all reissues, divisions,
continuations, continuations-in-part, extensions, renewals, and reexaminations of any of the foregoing, all rights corresponding hereto throughout the world, and all proceeds of the foregoing including, without limitation, licenses, royalties,
income, payments, claims, damages, and proceeds of suit and the right to sue for past, present and future infringements of any of the foregoing. [ASA, Schedule Z] 
 “Payment Intangible” has the meaning specified in Article 9 of the UCC. [ASA, Schedule Z] 
 “Percentage Interest” means the Capital Account of a Member as a percentage of the sum of all Capital Accounts of the Members in the same membership class. [LLCA] 
 “Permanent Parcels” has the meaning set forth in Article XI of the Account and Security Agreement; provided, that
if the Development Account Release Certificate is not delivered to the Geothermal Engineer within 36 months of the Effective Date of the Account and Security Agreement, then Permanent Parcels shall also include the Resource Support Parcels.
[ASA] 
 “Permitted Liens” has the meaning specified in Section 6.2 of the Credit
Agreement. [ASA, CA, ECCA] 
 “Person” means any individual, corporation, partnership, limited liability
company, association, joint stock company, trust, unincorporated organization, joint venture, government or political subdivision or agency thereof. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Placed in Service” means, with respect to a Turbine, that such Turbine qualifies for production tax credits under section 45 of
the Code. [EPC, Schedule Z] 
 “Plan” means any employee pension benefit plan, as defined in section 3(2) of
ERISA, which (a) is currently or hereafter sponsored, maintained or contributed to by the Company or an ERISA Affiliate or (b) was at any time during the six calendar years preceding the Effective Date, sponsored, maintained or contributed
to by the Company or an ERISA Affiliate. [CA, Schedule Z] 
 “Plant Manager” has the meaning set forth in
Section 4.1.1 of the O&M Agreement. [O&M] 
 “Platform” has the meaning specified
in Section 14.2 of the Credit Agreement. [CA] 
  

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 “Pledge Supplement” means any supplement to the Account and Security
Agreement in substantially the form of Exhibit A of the Account and Security Agreement. [ASA] 
 “Pledged
Debt” means, with respect to the Company, all Debt owed to the Company, including, without limitation, all Debt described on Schedule 6.4 of the Account and Security Agreement under the heading “Pledged Debt” (as
such schedule may be amended or supplemented from time to time), issued by the obligors named therein, the instruments evidencing such Debt, and all interest, cash, instruments and other property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such Debt. [ASA, Schedule Z] 
 “Pledged Equity
Interests” means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and Pledged Trust Interests. [ASA, Schedule Z] 
 “Pledged LLC Interests” means, with respect to the Company, all interests in any limited liability company including, without limitation, all limited liability company interests listed on
Schedule 6.4 of the Account and Security Agreement under the heading “Pledged LLC Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such limited
liability company interests and any interest of the Company on the books and records of such limited liability company or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash,
warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such limited liability company interests. [ASA,
Schedule Z] 
 “Pledged Partnership Interests” means, with respect to the Company, all interests in any general
partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 6.4 of the Account and Security Agreement under the heading “Pledged
Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of the Company on the books and records of such partnership or on
the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such partnership interests. [ASA, Schedule Z] 
 “Pledged Stock” means, with respect to the Company, all shares of capital stock owned by the Company, including, without limitation, all shares of capital stock described on Schedule 6.4 of the Account and
Security Agreement under the heading “Pledged Stock” (as such schedule may be amended or supplemented from time to time), and the certificates, if any, representing such shares and any interest of the Company in the entries on the
books of the issuer of such shares or on the books of any securities intermediary pertaining to such shares, and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares. [ASA, Schedule Z] 
  

 - 43 - 

 “Pledged Trust Interests” means, with respect to the Company, all interests in a
Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 6.4 of the Account and Security Agreement under the heading “Pledged Trust Interests” (as such schedule may be
amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of the Company on the books and records of such trust or on the books and records of any securities intermediary pertaining
to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of
such trust interests. [ASA, Schedule Z] 
 “Pre-Completion Interest Payment Date” means the last Business Day
of each December, March, June and September occurring before or on the Final Completion Date. [CA] 
 “Pre-Flip
Period” means the period commencing on the Effective Date and ending on the Flip Date. [Schedule Z] 
 “Prime
Rate” means, for any day, the “PRIME RATE” as published from time to time in ‘The Money Rates’ section of the Wall Street Journal (U.S. Edition), as such “PRIME RATE” may change from time to time. In
the event the Wall Street Journal ceases to publish the “PRIME RATE,” then the Parties shall agree as to a substitute reference which represents the base rate on corporate loans posted by major banks having one or more lending
offices in New York, New York. [EPC, Schedule Z] 
 “Pro Forma Basis” means for purposes of calculating the
financial covenant set forth in Section 5.2 of the Credit Agreement in connection with any event or transaction, or proposed event or transactions, such event or transaction shall be deemed to have occurred as of the first day of
the most recent twelve (12) month period preceding the date of such event or transaction for which the Administrative Agent has received financial statements pursuant to Section 5.1.1 or Section 5.1.2 of the Credit
Agreement, and including (a) with respect to the sale or other disposition of assets, (i) income statement and cash flow statement items (whether positive or negative) attributable to the assets disposed of shall be excluded to the
extent relating to any period occurring prior to the date of such transaction and (ii) Obligations which are retired shall be excluded and deemed to have been retired as of the first day of the applicable period and (b) with respect to any
acquisition, (i) income statement items attributable to the Person or property acquired shall be included to the extent relating to any period applicable in such calculations to the extent (A) such items are not otherwise included in such
income statement items for the Company and its Subsidiaries in accordance with GAAP or in accordance with any defined terms set forth in the Credit Agreement and (B) such items are supported by financial statements or other information
reasonably satisfactory to the Administrative Lender (it being understood that the Administrative Lender’s reasonable satisfaction shall apply only to the inclusion of the income statement items attributable to the Person or property acquired,
including applicable adjustments and synergies, and not to the acquisition itself) and (ii) any Obligation incurred or assumed by the Company (including the Person or property acquired) in connection with such transaction and any Obligation of
the Person or property acquired which is not retired in connection with such transaction (A) shall be deemed to have been incurred as of the first day of the applicable period and (B) if such Obligation has a floating or formula rate,
shall have an average rate of interest for the applicable period for purposes of this definition. [CA] 
  

 - 44 - 

 “Pro-Forma Owner’s Policy” means the Pro-Forma Owner’s Policy in the
form attached hereto as Schedule 3.19. [Schedule Z] 
 “Proceeds” means: (a) all
“proceeds” as defined in Article 9 of the UCC, (b) payments or distributions made with respect to any Investment Related Property and (c) whatever is receivable or received when Collateral or proceeds are sold, exchanged,
collected or otherwise disposed of, whether such disposition is voluntary or involuntary. [ASA] 
 “Production Tax
Credits” or “PTC” means production tax credits under Section 45 of the Internal Revenue Code as in effect from time-to-time during the Term or any successor or other provision providing for a federal tax
credit determined by reference to renewable electric energy produced from geothermal or other renewable energy resources for which the Facility is eligible. [EECA, LLCA] 
 “Project” means, collectively, the design, engineering, drilling, excavating, permitting, procurement, construction, civil works,
installation, integration, commissioning, start-up, testing, completion and any items or matters similar to any of the foregoing, all of which as are necessary and appropriate for the construction, testing and commissioning of the Facility. [CA,
EPC, O&M, Schedule Z] 
 “Project Budget” shall means the amount set forth in Schedule F of the EPC
Agreement. [ASA, CA, EPC, Schedule Z] 
 “Project Costs” means, without duplication all (a) amounts
payable to Contractor under the EPC Agreement; (b) amounts payable under any Owner Construction Agreement; (c) costs related to the Lease Agreements, rights of way and other real estate rights necessary for the Project before
Facility Substantial Completion; (d) insurance costs related to the design, development, construction, start-up, testing and commissioning of the Project; (e) all taxes, assessments or charges payable by the Company under Applicable Law
with respect to the Project; and (f) all fees, commissions and out-of-pocket expenses payable by the Company to all professional advisors, consultants and other experts in relation to the Project and all other costs relating to the design,
development, engineering, procurement, construction, permitting, installation, start-up, testing and commissioning of the Project. [CA, Schedule Z] 
 “Project Design Book” means, collectively, the diagrams, drawings, documents and other information setting forth in detail the comprehensive engineering, construction and technical and
operational specifications for engineering, designing, developing, constructing and operating all Equipment and Materials comprising the Facility on the Facility Site, including as to transmission, wells and Wellfield components, as the same may be
amended, modified, supplemented or restated from time to time in accordance with its terms, which diagrams, drawings, documents and other information are set forth in Schedule H to the EPC Agreement. [EPC, O&M, Schedule Z]

 “Project Objectives” means (i) achieving Turbine Substantial Completion by the December 31, 2008, and
(ii) achieving Facility Substantial Completion and Final Completion by the Guaranteed Final Completion Date, in each case, in accordance with the terms and conditions of the EPC Agreement. [EPC, Schedule Z] 
  

 - 45 - 

 “Project Party” means each Person (other than an Agent, a Lender or the Company)
from time to time a party to a Project Document. [CA] 
 “Project Schedule” means the Project Schedule set
forth in Schedule B to the EPC Agreement. [ASA, CA, EPC, O&M, Schedule Z] 
 “Project
Standards” means, with respect to any Work or Services to be performed in accordance with the EPC Agreement or O&M Agreement, as applicable, such Work and Services are performed: (i) in a professional, prudent,
good and workmanlike manner, (ii) only with supplies, materials and equipment that are new (or refurbished but which otherwise comply with Prudent Practices), operating properly and of utility-grade quality, (iii) in accordance
with the Project Design Book, including applicable engineering, environmental, construction, safety, and electrical generation codes and standards as required under or listed in the Project Design Book, (iv) in the best interests of the
Owner (which shall not be construed as creating a fiduciary obligation) (v) with the purpose of successfully achieving the Project Objectives, (vi) in a manner that is approved as to form, use and content by public entities authorized
under Applicable Laws to administer or enforce any building or construction code or standard and whose approval of the final design of the Facility, or any portion thereof, is necessary for the design, engineering and construction and operation of
the Facility in accordance with the Project Standards; and (vii) in compliance with Applicable Laws, Governmental Approvals and Prudent Practices and exercising the professional care and skill to be expected of a qualified contractor
experienced in the engineering, design and construction of facilities of a similar nature, size and complexity of the Facility. [EPC] 
 “Projected DSCR” means, with respect to any Quarterly Transfer Date, the DSCR projected for the four Fiscal Quarter periods beginning on the first day of the Fiscal Quarter in which such Quarterly Transfer Date
occurs. [CA, Schedule Z] 
 “Property” means any interest in any kind of property or asset, whether real,
personal or mixed, or tangible or intangible, including, without limitation, cash, securities, accounts and contract rights. [CA, ECCA, EPC, O&M, Schedule Z] 
 “Prove-Out” means the Availability Prove-Out and the Capacity Prove-Out which are set forth on Schedule D of the EPC Agreement. [EPC, Schedule Z] 
 “Prudent Electric Power Industry Practices” means the practices, methods, techniques and standards that (i) are generally
accepted in the electric power industry in the United States for use in connection with the design, procurement, engineering, construction, testing, operation and maintenance of geothermal power stations of the same or similar size and type as the
Facility all in a manner consistent with Applicable Laws, Governmental Approvals, Prudent Electrical Practices, reliability, safety, environmental protection, economy and expediency and (ii) conform in all material respects to the
manufacturer’s design, engineering, construction, testing, operation and maintenance guidelines applicable to the equipment in question. Prudent Electric Power Industry Practices are not limited to the optimum practice or method to the
exclusion of others, but rather refer to commonly used and reasonable practices and methods. [Schedule Z] 
  

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 “Prudent Electrical Practices” means those practices, methods, standards, and
equipment commonly used, from time to time, in electrical engineering and operations to operate electrical equipment with safety, dependability and efficiency and in accordance with the National Electrical Safety Code, the National Electrical Code
and the standards of the Institute of Electrical and Electronic Engineers, the National Electrical Manufacturers Association, the North American Electric Reliability Council, and the American National Standards Institute and any other applicable
statutes, codes, regulations and/or standards. [Schedule Z] 
 “Prudent Practices” means, collectively,
Prudent Electric Power Industry Practices and Prudent Electrical Practices. [CA, O&M, Schedule Z] 
 “PTC
Period” means the Tax Years during which the Facility generates electrical energy that qualifies for PTC”s under Section 45 of the Code. [LLCA] 
 “PUHCA” means the Public Utility Holding Company Act of 2005, 42 U.S.C. sec. 16451 et seq. (2006) and the regulations
of the FERC thereunder. [ECCA, LLCA] 
 “Punch-List” means the list prepared by Owner and Contractor, which
shall list all items of work that remain to be performed after achieving Facility Substantial Completion in order to ensure that the Facility achieves Final Completion and fully complies with all of the standards and requirements set forth in the
EPC Agreement. The Punch List shall not include any items of work, alone or in the aggregate, the noncompletion of which prevents the Facility from reaching Facility Substantial Completion and being legally, safely and reliably placed in
commercial operation in accordance with Applicable Laws and Governmental Approvals. [EPC] 
 “Purchase Option
Notice” has the meaning set forth in Section 9.7 of the LLC Operating Agreement. [LLCA] 
 “Purchase Price” has the meaning set forth in Section 9.7 of the LLC Operating Agreement. [LLCA] 
 “PURPA” means the Public Utility Regulatory Policies Act of 1978 and all rules and regulations adopted thereunder. [Schedule Z] 
 “Qualifying Facility” or “Qualifying Facilities” means a facility which is a qualifying facility within
the meaning of PURPA and which meets the criteria defined in Title 18, Code of Federal Regulations, Section 292.201 through 292.207. [CA, LLCA] 
 “Quarterly Disbursement Request” means a quarterly disbursement request substantially in the form of Exhibit J of the Account and Security Agreement, duly executed and delivered
by all required signatories thereto. [ASA, CA] 
 “Quarterly Transfer Date” means the last Business Day in
each January, April, July, and October occurring after the Final Completion Date. [ASA, Schedule Z] 
 “Real Estate
Rights” means all rights in or to real estate or sub-surface mineral rights (including title to or other rights to use or access the Facility Site, leases, contracts, permits, 

  

 - 47 - 

 
easements, licenses, and rights of way) required to be obtained or maintained in connection with construction of the Facility on the Facility Site,
performance of the Work, or operation of the Facility (including the transportation of all necessary materials, equipment and other items to the Facility Site, access for the construction, and the startup and testing of the Facility). [EPC]

 “Recalculated Equity Base Case Model” means the Equity Base Case Model, as recalculated in accordance with
Section 6.4 of the EPC Agreement. [EPC, Schedule Z] 
 “Receivables” shall mean, with
respect to the Company, all rights to payment, whether or not earned by performance, for goods or other property sold, leased, licensed, assigned or otherwise disposed of, or services rendered or to be rendered, including, without limitation all
such rights constituting or evidenced by any Account, Chattel Paper, Instrument, General Intangible or Investment Related Property together with all of the Company’s rights, if any, in any goods or other property giving rise to such right to
payment and all Collateral Support and Supporting Obligations related thereto and all Receivables Records. [ASA, CA, Schedule Z] 
 “Receivables Records” shall mean, with respect to the Company, (a) all original copies of all documents, instruments or other writings or electronic records or other records evidencing the Receivables,
(b) all books, correspondence, credit or other files, records, ledger sheets or cards, invoices, and other papers relating to Receivables, including, without limitation, all tapes, cards, computer tapes, computer discs, computer runs, record
keeping systems and other papers and documents relating to the Receivables, whether in the possession or under the control of the Company or any computer bureau or agent from time to time acting for the Company or otherwise, (c) all evidences
of the filing of financing statements and the registration of other instruments in connection therewith, and amendments, supplements or other modifications thereto, notices to other creditors or secured parties, and certificates, acknowledgments, or
other writings, including, without limitation, lien search reports, from filing or other registration officers, (d) all credit information, reports and memoranda relating thereto, and (e) all other written or non-written forms of
information related in any way to the foregoing or any Receivable. [ASA, Schedule Z] 
 “Record” has the
meaning specified in Article 9 of the UCC or any successor provision thereto. [Schedule Z] 
 “Redemption”
means with respect to any Debt, the repurchase, redemption, prepayment, repayment, or defeasance or any other acquisition or retirement for value (or the segregation of funds with respect to any of the foregoing) of such Debt.
“Redeem” has the correlative meaning thereto. [CA] 
 “Redemption Amount” means
(a) aggregate outstanding principal amount of all Advances, plus (b) any interest accrued but unpaid under the Credit Agreement to the date of the prepayment, plus (c) in the case of prepayment under
Section 2.6.2 of the Credit Agreement, the Make-Whole Amount in respect of all Advances not previously prepaid. [CA] 
 “Register” has the meaning specified in Section 16.2.4 of the Credit Agreement. [CA] 
 “Regulated Holder” means any holder of membership interests that is (or that is a subsidiary of a bank holding company that is) subject to the various provisions of Regulation Y 

  

 - 48 - 

 
of the Board of Governors of the Federal Reserve Systems, 12 C.F.R., Part 225 (or any successor to Regulation Y). [LLCA] 
 “Regulatory Problem” means, with respect to the Class A Investors, (i) any set of facts or circumstances wherein it has
been asserted by any Governmental Authority (or the Class A Investors reasonably believe based on advice of their counsel or regulators that there is a reasonable risk of such assertion) that such Person (or any bank holding company or other
regulated bank entity that controls such Person) is not entitled to hold, or exercise any material right with respect to, all or any portion of the membership interests of the Company that such Person holds or (ii) such Person
and its Affiliates does or would own, control or have power (including voting rights) over a greater quantity of membership interests of the Company than is permitted under any law or regulation or any requirement of any Governmental
Authority applicable to such Person or to which such Person is subject. [LLCA] 
 “Reimbursable Costs”
means those costs described as such in Sections 7.1.1.1 and 7.1.1.2 of the O&M Agreement. [ASA, CA, O&M, Schedule Z] 
 “Reinvestment Yield” means, with respect to the Called Principal of any Advance, 50 basis points above the yield to maturity as quoted on the Reference Page of actively traded U.S. Treasury Notes or Bonds three
(3) Business Days before the Settlement Date with a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. [Schedule Z] 
 “Related Fund” means, with respect to any Lender, any fund or entity that (a) invests in securities or bank loans, and (b) is advised or managed by such Lender, the same investment
advisor as such Lender or by an Affiliate of such Lender or such investment advisor. [CA] 
 “Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors (including attorneys, accountants and experts) of such Person and such Person’s Affiliates.
[CA] 
 “Release” means any release, spill, emission, discharge, leaking, pumping, injection, deposit,
disposal, dispersal, leaching or migration into the indoor or outdoor environment (including ambient air, surface water, groundwater and surface or subsurface strata) of Hazardous Materials in, at, on or under the property, including the movement of
Hazardous Materials through or in the air, soil, surface water, groundwater or real property. [CA, EPC, O&M, Schedule Z] 
 “Released Assets” means, as of any date, those parcels or assets permitted to be released as of such date in accordance with Article XI of the Account and Security Agreement. [Schedule Z] 

 “Remaining Average Life” means, with respect to any Called Principal, the number of years (calculated to the
nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to
such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with 

  

 - 49 - 

 
respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. [Schedule Z] 
 “Remaining Scheduled Payments” means, with respect to the Called Principal of any Advance, all payments of such Called Principal
and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date; provided, that if such Settlement Date is not a date on
which interest payments are due to be made under the terms of the Credit Agreement, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be
paid on such Settlement Date pursuant to Section 2.5, 2.6 or Section 8 of the Credit Agreement. [Schedule Z] 
 “Remedial Work” has the meaning specified in Section 5.15.1 of the Credit Agreement. [CA] 
 “Replacement Lender” has the meaning specified in Section 2.12.3 of the Credit Agreement. [CA] 
 “Reports” means, collectively, the Independent Engineer’s Report and the Insurance Consultant’s Report. [ECCA,
Schedule Z] 
 “Representatives” means, with respect to any Person, the managing member(s), the officers,
directors, employees, representatives or agents (including investment bankers, financial advisors, attorneys, accountants, brokers and other advisors) of such Person, to the extent that such officer, director, employee, representative or agent of
such Person is acting in his or her capacity as an officer, director, employee, representative or agent of such Person. [LLCA] 
 “Required Lenders” means, at any time, the Lenders comprising at least 51% of the Commitments (exclusive of Commitments held by the Company or any of its Affiliates) or, if the Commitments have terminated, Lenders
comprising at least 51% of the outstanding principal amount of the Advances. [ASA, CA, Schedule Z] 
 “Required Turbine
Substantial Completion Date” means December 31, 2008 or such other date permitted by Applicable Law by which the Turbines may still qualify as Placed in Service. [EPC, Schedule Z] 
 “Requisite Expert Consultation” means, with respect to any matter, such Consultation (which may be oral or in writing) with the
Independent Engineer, the Insurance Consultant, or such other expert advisors as may be engaged in connection with such matter as the Administrative Agent or the Administrative Lender shall reasonably deem appropriate under the particular
circumstances. In the event that the Administrative Lender shall reasonably require a written report of the Independent Engineer, the Insurance Consultant, the Geothermal Engineer or any such other expert advisor with respect to any matter that
requires a determination, consent or approval of the Administrative Lender shall not make such determination or delivery such consent or approval until such report or reports have been delivered and approved by the Administrative Lender. [CA]

  

 - 50 - 

 “Resource Period” means the period commencing on the Effective Date and ending on
the 20th anniversary thereof. [Schedule Z] 
 “Resource Support Parcels” has the meaning set forth in
Article XI of the Account and Security Agreement. [ASA] 
 “Responsible Officer” means as to any
Person, the Chief Executive Officer, the President, any Financial Officer or any Vice President of such Person. Unless otherwise specified, all references to a Responsible Officer in the Credit Agreement shall mean a Responsible Officer of
the Company. [CA, Schedule Z] 
 “Restoration Plan” has the meaning specified in
Section 2.6.1.2(5) of the Credit Agreement. [CA] 
 “Restoration Work” means any repair or
restoration (including, but not limited to, designing, engineering, constructing and completing such repair or restoration) of affected Property following any Casualty Event. [CA, ASA] 
 “Restore” has the meaning specified in Section 2.6.1.2(3) of the Credit Agreement. [CA] 
 “Restricted Payment” means (a) any dividend or other distribution (whether in cash, securities or other Property) with
respect to any Equity Interests in the Company, or any payment (whether in cash, securities or other Property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any such Equity Interests in the Company or any option, warrant or other right to acquire any such Equity Interests in the Company, or (b) any payment of a development, management, advisory consulting or similar fee, or the
payment of any expenses or other amounts of or to, the Company or its Affiliates other than fees payable under the O&M Agreement. [CA] 
 “Revenue Account” means the Revenue Account set forth in Section 2.1.1 of the Account and Security Agreement. [ASA, CA] 
 “Sales Tax” means all sales and use taxes that are properly payable by Contractor in connection with the Work. [EPC]

 “SEC” means the United States Securities and Exchange Commission and any successor thereto. [ASA]

 “Second Funding Date” means the earlier of: (i) the date upon which the balance of funds in the Construction
Account is less than $1 million and all Advances under the Credit Agreement have been drawn, (ii) the date upon which a EPC Funding Request has been made and Advances under the Credit Agreement are insufficient to satisfy the amount stated
therein, (iii) the Facility Substantial Completion Date, (iv) December 15, 2008 and (v) the date upon which a Credit Agreement Event of Default occurs. [ECCA, LLCA, Schedule Z]  
  

 - 51 - 

 “Second Funding Date Capital Contributions” means the capital contributions by
the Class A Investors on the Second Funding Date, as determined in accordance with Section 2.2 of the Equity Capital Contribution Agreement. [ASA] 
 “Secured Obligations” has the meaning assigned in Section 5.1 of the Account and Security Agreement.
[ASA] 
 “Secured Parties” means the Agents, the Security Agent, the Account Bank, the Securities Intermediary
and the Lenders and shall include, without limitation, all former Agents and Lenders to the extent that any Obligations owing to such Persons were incurred while such Persons were Agents and Lenders and such Obligations have not been paid or
satisfied in full. [ASA, LLCA]  
 “Securities Accounts” (i) means all “securities accounts” as
defined in Article 9 of the UCC and (ii) includes, without limitation, all of the accounts listed on Schedule 6.4 of the Account and Security Agreement under the heading “Securities Accounts” (as such schedule may be
amended or supplemented from time to time). [ASA, Schedule Z] 
 “Securities Act” means the Securities Act of
1933, as amended from time to time. [ASA, ECCA] 
 “Security Accounts” has the meaning assigned in
Section 2.1.1 of the Account and Security Agreement. [ASA] 
 “Security Instruments” means,
collectively, (a) the Account and Security Agreement, (b) the Class A Investors Pledge Agreement and Class B Investors Pledge Agreement, (c) the Leasehold Mortgage(s), (d) the UCC-1 financing statements required to be
filed under the terms of any of the foregoing documents, (e) each other collateral, account control agreement, pledge, security, mortgage, deed of trust, assignment of leasehold mortgage or guaranty agreement and any and all other agreements,
instruments, consents or certificates now or hereafter executed and delivered by the Company or any other Person (other than participation or similar agreements between any Lender and any other lender or creditor with respect to any Obligation
pursuant to the Credit Agreement) as security for the payment or performance of the Obligations or the Credit Agreement, as such agreements may be amended, modified, supplemented or restated from time to time. [CA, ECCA, Schedule
Z] 
 “Services” means all engineering, design, drilling, Wellfield development, excavating, installation, civil
works, procurement, construction, permitting, management, manufacturing and administrative services and any other services similar to the foregoing, which is or may be necessary or appropriate for the design, engineering, construction, development,
operation and maintenance, as applicable, of a geothermal power plant facility and all components relating thereto, including as to procurement of geothermal resources and transmission of electric energy generated thereby, of a similar nature, size
and complexity as the Facility, in each case, based on the technical specifications and requirements set forth in the Project Design Book. [EPC, Schedule Z] 
 “Settlement Date” means with respect to the Called Principal of any Obligation, the date on which such Called Principal is to be prepaid pursuant to Section 2.5 or
Section 2.6 of the 

  

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Credit Agreement or has become or is declared to be immediately due and payable pursuant to Section 8 of the Credit Agreement, as
the context requires. [Schedule Z] 
 “Special Project Document Payments” means payments due with respect to
any Borrower Indemnification Event(s). [ASA] 
 “Subcontract” means any contract for the provision or
performance of any part of the Work or the supply of any supplies, equipment, materials or other components in connection with the EPC Assets, other than the EPC Agreement. [EPC, O&M, Schedule Z] 
 “Subcontractor” means each counterparty to a Subcontract other than the Contractor. [EPC, O&M, Schedule Z] 

“Subject” has the meaning specified in Section 7.6 of the Credit Agreement. [CA] 
 “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of
which a majority of the outstanding Equity Interests is at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. [Schedule Z]

 “Support” means the provision of labor, utilities, machinery, tools, equipment, materials, supplies,
transportation, shipping, freighting, storage, waste disposal or any other support similar to the foregoing, whether temporary or permanent and including facilities relating thereto, which is or may be necessary or appropriate for the design,
engineering, construction, development, operation and maintenance, as applicable, of a geothermal power plant facility and all components relating thereto, including as to procurement of geothermal resources and transmission of electric energy
generated thereby, of a similar nature, size and complexity as the Facility, in each case, based on the technical specifications and requirements set forth in the Project Design Book. [EPC, O&M, Schedule Z] 
 “Supporting Obligation” means all “supporting obligations” as defined in Article 9 of the UCC. [ASA, Schedule Z]

 “Synthetic Leases” means, in respect of any Person, all leases which shall have been, or should have been, in
accordance with GAAP, treated as operating leases on the financial statements of the Person liable (whether contingently or otherwise) for the payment of rent thereunder and which were properly treated as indebtedness for borrowed money for purposes
of U.S. federal income taxes, if the lessee in respect thereof is obligated to either purchase for an amount in excess of, or pay upon early termination an amount in excess of, 80% of the residual value of the Property subject to such operating
lease upon expiration or early termination of such lease. [Schedule Z] 
 “Target Availability Rating” means
net electrical output from the Facility during full operation equaling at least 92% of the Target Capacity Rating, as demonstrated pursuant to the Availability Prove-Out. [EPC, Schedule Z] 
  

 - 53 - 

 “Target Capacity Rating” means a net electrical output of the Facility during
full operation equaling at least 10.35 MW, as demonstrated pursuant to the Capacity Prove-Out. [ECCA, EPC, Schedule Z] 
 “Target Debt Investment” means $31,175,092, as indicated in the Original Equity Base Case Model. [Schedule Z] 
 “Target Economics” means, with respect to the Equity Base Case Model, the intent of the Parties to the Financing Documents and the Tax Equity Documents to achieve the following objectives:
(i) that the Flip Date occur on the Target Flip Date, (ii) that the Class A Investors receive the After-Tax Payout, and (iii) that the DSCR equal Target DSCR. [EPC, Schedule Z]  
 “Target Equity Investment” means $24,500,000, as indicated in the Original Equity Base Case Model. [Schedule Z]

 “Target Facility Characteristics” means the following characteristics to be achieved by the Facility upon Facility
Substantial Completion: (i) the Target Capacity Rating, (ii) the Target Availability Rating, and (iii) the Target Turbine Substantial Completion Quantity. [EPC, Schedule Z] 
 “Target Flip Date” means December 31, 2018. [Schedule Z]  
 “Target Turbine Substantial Completion Quantity” means 50. [EPC, Schedule Z] 
 “Target DSCR” means a DSCR of 1.5:1.0. [LLCA, Schedule Z] 
 “Target IRR” means an Internal Rate of Return of fifteen percent (15%). [ECCA, LLCA] 
 “Target Pre-Tax Return” has the meaning set forth in Section 2.3(c) of the Equity Capital Contribution
Agreement. [ECCA, LLCA] 
 “Tax Matters Member” means the Member that is designated as the “tax
matters partner” as defined in Section 6231 of the Code. [ECCA] 
 “Tax Matters Partner” has the
meaning set forth in Section 7.10(a) of the LLC Operating Agreement. [LLCA] 
 “Tax
Returns” means any return, report, statement, information return or other document (including any amendments thereto and any related or supporting information) filed or required to be filed with any Governmental Authority in connection
with the determination, assessment, collection or administration of any taxes or the administration of any laws, regulations or administrative requirements relating to any taxes, including after the Closing any IRS Form K-1 issued to Members by
the Company, information return, claim for refund, amended return or declaration of estimated tax. [ECCA, LLCA] 
 “Taxes” means all taxes, charges, fees and levies imposed under Applicable Law by any Governmental Authority, including any gross or net income, gross receipts, capital gains, 

  

 - 54 - 

 
franchise, premium, retaliatory or reciprocal, profits, sales, use, value-added, transfer, employment or payroll, ad valorem, environmental, excise, license,
occupation, real or personal property, intangible property, minimum, alternative minimum, severance, stamp, withholding, or windfall profits tax, guaranty fund assessments, custom duty or other charge, fee or tax, together with any interest, charge,
penalty, addition to tax or additional amount related thereto. [ASA, CA, ECCA, EPC, LLCA, O&M, Schedule Z]  
 “Tax
Year” means the calendar year or such other year the Company is required by Section 706 of the Code to use as its tax year. [LLCA] 
 “Term” means the period from the Closing Date through the Termination Date. [LLCA, Schedule Z] 
 “Termination Date” has the meaning set forth in Section 2.4 of the LLC Operating Agreement. [ASA, LLCA, Schedule Z] 
 “Termination Payment Date” has the meaning set forth in Section 13.2.6.1 of the EPC Agreement. [EPC]

 “Third Party Claims” means, with respect to any Agreement, any claim, action, cause of action or suit,
litigation, controversy, assessment, arbitration, investigation, inquiry, hearing, charge, complaint, demand, notice or proceeding initiated by any Person other than a Party to such Agreement by or before any Governmental Authority. [EPC, ECCA,
O&M] 
 “Three-Month LIBOR” shall have the meaning specified in Exhibit D of the LLC Operating
Agreement. [LLCA] 
 “Total Loss” has the meaning specified in Section 2.6.1.2(2) of the Credit
Agreement. [CA] 
 “Trade Secret Licenses” means any and all payments providing for the granting of any
right in or to Trade Secrets (whether the Company is licensee or licensor thereunder) including, without limitation, each agreement referred to in Schedule 6.6(G) of the Account and Security Agreement (as amended or supplemented from
time to time). [ASA] 
 “Trade Secrets” means, with respect to the Company, all trade secrets and all other
confidential or proprietary information and know-how now or hereafter owned or used in, or contemplated at any time for use in, the business of the Company (all of the foregoing being collectively called a “Trade Secret”), whether or not
such Trade Secret has been reduced to a writing or other tangible form, including all documents and things embodying, incorporating, or referring in any way to such Trade Secret, the right to sue for past, present and future infringement of any
Trade Secret, and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit. [Schedule Z] 
 “Trademark Licenses” means any and all agreements providing for the granting of any right in or to Trademarks (whether the
Company is licensee or licensor thereunder) including, 

  

 - 55 - 

 
without limitation, each agreement referred to in Schedule 6.6(F) of the Account and Security Agreement (as amended or supplemented from time
to time). [ASA, Schedule Z] 
 “Trademarks” means all United States, state and foreign trademarks, trade
names, corporate names, company names, business names, fictitious business names, internet domain names, trade styles, service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles
of a like nature, all registrations and applications for any of the foregoing including, but not limited to the registrations and applications referred to in Schedule 6.6(E) of the Account and Security Agreement (as amended or
supplemented from time to time), all extensions or renewals of any of the foregoing, all of the goodwill of the business connected with the use of and symbolized by the foregoing, the right to sue for past, present and future infringement or
dilution of any of the foregoing or for any injury to goodwill, and all proceeds of the foregoing, including, without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit. [ASA, Schedule Z] 
 “Transaction Expenses” means (i) the reasonable legal fees, expenses and disbursements of the Lenders, the Company and IRP
incurred in connection with the Equity Capital Contribution Agreement and the transactions contemplated hereby; (ii) other reasonable, documented out of pocket expenses of the Company and IRP incurred in connection with the Equity
Capital Contribution Agreement and the transactions contemplated hereby; (iii) intentionally omitted; (v) the reasonable fees, out-of-pocket costs and expenses of the Class A Investors (including reimbursement of any such amounts
previously paid) incurred in connection with the Equity Capital Contribution Agreement and the transactions contemplated hereby, including the reasonable fees and expenses of counsel and consultants to the Class A Investors; and
(vi) the reasonable fees and out of pocket expenses of the Independent Engineer, the Geothermal Engineer and the Insurance Consultant incurred in connection with the preparation of the Reports. [ECCA]  
 “Transactions” means, with respect to the Company, the execution, delivery and performance by the Company of each Transaction
Document to which it is a Party, the use of the proceeds thereof and otherwise the consummation of the transactions contemplated thereby, and the granting by the Company of any Liens pursuant to the provisions of the Security Instruments. [CA,
ECCA, O&M, Schedule Z] 
 “Transfer” has the meaning set forth in Section 9.1 of the LLC
Operating Agreement. [LLCA]  
 “Transfer Taxes” has the meaning set forth in Section 6.2 of
the Equity Capital Contribution Agreement. [ECCA] 
 “Transmission Line” has the meaning specified in
Article XI of the Account and Security Agreement. [ASA] 
 “Treasury Regulations” means
regulations written by the IRS interpreting the Code. [LLCA]  
  

 - 56 - 

 “Turbine” means each
PureCycle© 225 System geothermal heat-to-electricity power system turbine generator contemplated to be sold to the Company pursuant to the UTC Purchase Contract. [ECCA, EPC, LLCA]

 “Turbine Substantial Completion” has the meaning set forth in Section 6.1.1 of the EPC
Agreement. [EPC] 
 “Turnover Package” means the documentation (including the Project Design Book,
start-up procedures, log sheets, settings, and other items) in content, form and substance reasonably acceptable to Owner, submitted by Contractor to Owner that demonstrates that the Project has met Facility Substantial Completion in accordance with
the EPC Agreement and may be operated safely in accordance with the O&M Manual and for its intended purposes. [EPC] 
 “UCC” means the Uniform Commercial Code in effect from time to time in the State of New York or, when the context requires, the Uniform Commercial Code as en effect from time to time in any other applicable
jurisdiction. [ASA, CA, LLCA, Schedule Z] 
 “Underrun Bonus” has the meaning set forth in
Section 5.7 of the EPC Agreement. [ASA, EPC] 
 “Unrelated Persons” means a Person that is
not “related,” within the meaning of Section 45(e)(4) of Code, to any Person to whom the Company sells electricity during the period the Company is entitled to Production Tax Credits on such electricity. 
 “USA Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. [ASA, CA] 
 “Warranty” has the meaning set forth in Section 9.1 of the EPC Agreement. [EPC] 
 “Warranty Claim” has the meaning set forth in Section 9.3 of the EPC Agreement. [EPC] 
 “Warranty Period” has the meaning set forth in Section 9.2 of the EPC Agreement. [EPC] 
 “Wellfield” means the array of extraction and injection wells, together with interconnected piping and related materials,
providing geothermal resources to the Facility. [Schedule Z] 
 “Wellfield Plan and Budget” means, with
respect to the applicable Operating Year, an annual operating budget and capital budget, broken down on a monthly basis, setting forth in detail the following matters with respect to the wells and Wellfield: (A) anticipated operations
(including the drilling of new wells), (B) routine maintenance on existing wells (including major maintenance), (C) procurement (including equipment acquisitions and spare parts indicating a breakdown of capital items and expense items),
(D) staffing, personnel and labor activities 

  

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(including unit rates for labor, hourly rates for consultants who are not employees of the Operator or its Affiliates, and holidays to be observed),
(E) administrative activities, and (F) data regarding other work proposed to be undertaken by Operator, together with an itemized estimate, in detail reasonably acceptable to Owner, of all Reimbursable Costs to be incurred in connection
therewith, together an annual operating plan setting forth underlying assumptions and implementation plans. [O&M] 
 “Work” has the meaning set forth in Section 2.2 of the EPC Agreement. [EPC, LLCA, O&M, Schedule Z] 
 “Working Capital Loan” has the meaning set forth in Section 4.5 of the LLC Operating Agreement. 
  

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 PARTIES 
 “Account Bank” means Deutsche Bank Trust Company Americas and its permitted successors and assigns. [ASA, Schedule Z] 
 “Administrative Agent” means Deutsche Bank Trust Company Americas, together with its successors and assigns to the extent
permitted by the Credit Agreement. [CA, ASA, ECCA, O&M, Schedule Z] 
 “Administrative Lender”
means Merrill Lynch Credit Products, LLC or any successor as may be appointed in accordance with Section 15.8 of the Credit Agreement provided that in no event shall there be more than one Administrative Lender at any given time.
[ASA, CA, O&M, EPC, Schedule Z] 
 “Anaheim” means the City of Anaheim, California, a municipal
corporation organized and existing under the laws of the State of California. [CA, Schedule Z] 
 “Class A
Investors” means one or more Members holding one or more Class A Interests. Initially the Class A Investors will be MLE. [CA, ASA, LLCA, Schedule Z] 
 “Class B Investors” means one or more Members holding one or more Class B Interests. Initially the Class B Investors
will be IRP. [ASA, CA, ECCA, LLCA, Schedule Z] 
 “Class C Investor” means a Member holding one or more
Class C Interests. [LLCA] 
 “Collateral Agent” means Deutsche Bank Trust Company Americas, together with
its successors and assigns to the extent permitted by the Account and Security Agreement. [ASA, CA, ECCA, Schedule Z] 
 “Company” means Thermo No. 1 BE-01, LLC, a Delaware limited liability company, together with its successors and assigns. [ASA, CA, ECCA, LLCA, Schedule Z] 
 “Contractor” means Raser Technologies, Inc., a Delaware corporation, together with its successors and assigns. [ASA, CA, ECCA,
EPC, LLCA, O&M, Schedule Z] 
 “Financing Parties” means, collectively, the Lenders, the Administrative Agent
and the Collateral Agent under the Financing Documents. 
 “GE” means GE Consumer & Industrial,
together with its successors and assigns. [Schedule Z] 
 “Geothermal Engineer” means, initially, GeothermEx,
or, if no longer GeothermEx, such geothermal engineers as may be selected by the Class A Investors from time to time, subject to the prior written consent of the Company, so long as the Company is not subject to a Credit Agreement Event
of Default, and the Administrative Lender, such consent not to be unreasonably withheld, conditioned or delayed, in each case, as the geothermal engineer for the Project and any successors and assigns thereto. [ASA, CA, ECCA, EPC, LLCA, O&M,
Schedule Z]  
  

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 “Goulds” means ITT Corporation, an Indiana Corporation, together with its
successors and assigns. [Schedule Z] 
 “Independent Engineer” means initially, R.W. Beck, or, if no longer R.
W. Beck, such independent engineers as may be selected by the Class A Investors from time to time, subject to the prior written consent of the Company , so long as the Company is not subject to a Credit Agreement Event of Default, and the
Administrative Lender, such consent not to be unreasonably withheld, conditioned or delayed, in each case, as the independent engineer for the Project and any successors and assigns thereto. [ASA, CA, EPC, O&M, Schedule Z] 
 “Insurance Consultant” means Moore-McNeill, LLC, or, if no longer Moore-McNeill, LLC, such insurance consultant as may be
selected by the Class A Investors from time to time, subject to the prior written consent of the Company, so long as the Company is not subject to a Credit Agreement Event of Default, and the Administrative Lender, such consent not to be
unreasonably withheld, conditioned or delayed, in each case, as the insurance consultant for the Project and any successors and assigns thereto. [CA, ECCA, Schedule Z] 
 “Interconnection Construction Provider” means Pine Valley, together with its successors and assigns. [Schedule Z]

 “Interconnection Service Provider” means PacifiCorp, together with its successors and assigns. [EPC, Schedule
Z] 
 “IRP” means Intermountain Renewable Power, LLC, a Delaware limited liability company, together with its
successors and assigns. [ECCA, LLCA] 
 “Managing Member” has the meaning set forth in Section 8.1
of the LLC Operating Agreement. [LLCA, Schedule Z] 
 “Member(s)” means any Person who owns an equity
interest in the Company. [ECCA, LLCA] 
 “Minersville” means Minersville Land and Livestock Company, together
with its successors and assigns. [Schedule Z] 
 “MLE” means Merrill Lynch L.P. Holdings Inc., a Delaware
Corporation, together with its successors and assigns. [ECCA, LLCA, Schedule Z] 
 “Operator” means the
operator of the Facility and a party to the O&M Agreement, or any successor thereto. [ECCA, LLCA, O&M, Schedule Z] 
 “Owner” means Thermo No. 1 BE-01, LLC, a Delaware limited liability company, together with its successors and assigns. [ECCA, EPC, LLCA, O&M, Schedule Z] 
 “Parent” means, if applicable to a Member, the Person or Persons that directly control such Member. [ECCA, Schedule Z]

  

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 “Patterson” means Patterson-UTI Drilling Company, LP, LLP, together with its
successors and assigns. [Schedule Z] 
 “PBGC” means the Pension Benefit Guaranty Corporation, together with
its successors and assigns. [CA, Schedule Z] 
 “Pine Valley” means Pine Valley Power, Inc., a Utah
corporation, together with its successors and assigns. [Schedule Z] 
 “Raser” means Raser Technologies, Inc.,
a Delaware corporation, together with its successors and assigns. [CA, ECCA, EPC, LLCA, Schedule Z] 
 “Raser
Entities” means Owner, Raser, Raser Power and IRP. [CA]  
 “Raser Power” means Raser Power
Systems, LLC, a Delaware limited liability company, together with its successors and assigns. [Schedule Z] 
 “Securities
Intermediary” means Deutsche Bank Trust Company Americas, in its capacity as securities intermediary with respect to the Security Accounts and within the meaning of Article 8 of the UCC. [ASA, Schedule Z] 
 “Security Agent” means Deutsche Bank Trust Company Americas. 
 “SITLA” means the State of Utah, acting by and through the School and Institutional Trust Lands Administration. [Schedule
Z] 
 “SPX” means SPX Cooling Technologies, Inc, a Delaware corporation, together with its successors and
assigns. [Schedule Z] 
 “UTC” means UTC Power Corporation, together with its successors and assigns. [ASA,
ECCA, EPC, O&M, Schedule Z] 
  

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 DOCUMENTS 
 “Account and Security Agreement” means the Account and Security Agreement, dated as of the Closing Date, entered into by and between Owner and the Collateral Agent, as the same may be
amended, modified, supplemented or restated from time to time in accordance with its terms. [ASA, CA, ECCA, EPC, LLCA] 
 “Ancillary Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

 “Assignment and Acceptance” means an assignment and acceptance entered into by a Lender and an Eligible Assignee
(with the consent of any party whose consent is required by Section 16.2 of the Credit Agreement or by the definition of “Eligible Assignee”), and accepted by the Administrative Agent, in accordance with
Section 16.2 of the Credit Agreement and in substantially the form of Exhibit 16 to the Credit Agreement or any other form approved by the Administrative Agent. [CA] 
 “Assignment of SITLA Lease” means the Partial Assignment of State Lands Lease, dated as of August 27, 2008, entered into by
and between IRP and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Class A Consent” means the Consent and Agreement, dated as of the Effective Date, by and between MLE and the Administrative Agent. 
 “Class A Investors Pledge Agreement” means the Pledge and Security Agreement, dated as of the Effective Date, by and between the Class A Investors and the Collateral Agent.

 “Class B Consent” means the Consent and Agreement, dated as of the Effective Date, by and between IRP and the
Administrative Agent. 
 “Class B Guaranty” means that certain guaranty issued by Raser dated as of the
Effective Date of the Equity Capital Contribution Agreement. 
 “Class B Guarantor Consent” means the
Consent and Agreement, dated as of the Effective Date, by and between Raser, and the Administrative Agent. 
 “Class B
Investors Pledge Agreement” means the Pledge and Security Agreement, dated as of the Effective Date, by and between each of the Class B Investors and the Collateral Agent. 
 “Condensing Water Pump Contract” means the Purchase Order for an ITT Goulds Model #3180XL, amongst other items, dated as of
March 20, 2008, entered into by and between Goulds and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Conditional Lien Waiver” means the Conditional Lien Waiver substantially in the form attached to the EPC Agreement as
Exhibit A-2. 
  

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 “Construction Disbursement Request” means the EPC Payment Request. 
 “Construction Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached
hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Cooling Tower Purchase
Contract” means the Purchase Order, dated as of March 20, 2008, entered into by and between SPX and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 

“Credit Agreement” means the Credit Agreement, dated as of the Closing Date, entered into by and between Owner, the
Lenders and the Administrative Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Development Account Release Certificate” means a certificate substantially in the form of Exhibit K of the Account and Security Agreement, duly executed and delivered by all
required signatories thereto. 
 “Drilling Contract” means the Drilling Bid Proposal and Daywork Drilling Contract
– U.S., dated as of April 8, 2008, entered into by and between Patterson and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Drilling Escrow Certificate” means the Drilling Escrow Certificate substantially in the form attached to the Equity Capital
Contribution Agreement as Exhibit B. 
 “Drilling Plan and Budget” means the Drilling Plan and Budget
described in Section 4.3 of the Equity Capital Contribution Agreement. 
 “Drilling Reserve Disbursement
Request” means a Drilling Reserve Disbursement Request substantially in the form of Exhibit H of the Account and Security Agreement, duly executed and delivered by all required signatories thereto. 
 “EPC Agreement” means the Engineering, Procurement and Construction Agreement by and between Contractor and Owner, dated as of
the Closing Date, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “EPC Funding Request” means the EPC Funding Request substantially in the form attached to the EPC Agreement as Exhibit H, duly executed and delivered by the signatories thereto. 
 “EPC Payment Request” means the EPC Payment Request substantially in the form attached to the EPC Agreement as Exhibit
I, duly executed and delivered by the signatories thereto. 
 “Equity Commitment Letters” means that certain
letter agreement dated January 16, 2008 by and between Merrill, Lynch, Pierce, Fenner and Smith, Inc. and Raser. 
  

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 “Equity Capital Contribution Agreement” means the Equity Capital Contribution
Agreement, dated as of the Closing Date, entered into by and among Owner, the Class A Investors and the Class B Investors, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms.
 
 “Final Lien Release” means the Final Lien Release substantially in the form attached to the EPC
Agreement as Exhibit A-3. 
 “Financing Documents” means those agreements, instruments or other documents
identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Forbearance Agreement” means an agreement among the Administrative Agent, the Company and the Class A Investors in which the Administrative Agent, on behalf of the Lenders, agrees to, among other things,
forbear from foreclosing on the Class A Interests before the end of the PTC Period. 
 “Independent Engineer Funding
Certificate” means the Independent Engineering Funding Certificate substantially in the form attached to the EPC Agreement as Exhibit J, duly executed and delivered by the signatories thereto. 
 “Independent Engineer Payment Certificate” means the Independent Engineering Payment Certificate substantially in the form
attached to the EPC Agreement as Exhibit K, duly executed and delivered by the signatories thereto. 
 “Interconnection Agreement” means the Interconnection Agreement, dated as of June 17, 2008, entered into by and between PacifiCorp and IRP, as the same may be amended, modified, supplemented or restated from
time to time in accordance with its terms. 
 “Leasehold Mortgage” means the Leasehold Deed of Trust, Security
Agreement, Financing Statement, Fixture Filing and Assignment of Production, dated as of August 31, 2008, entered into by the Owner in favor of the Collateral Agent, as the same may be amended, modified, supplemented or restated from time to
time in accordance with its terms. 
 “Letter Agreement concerning Deposits” means the Letter Agreement, dated as of
August 31, 2008, entered into by and between Contractor and UTC, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Lien Release” means the Lien Release substantially in the form attached to the EPC Agreement as Exhibit A-1.

 “LLC Operating Agreement” means the LLC Operating Agreement, dated as of September 1, 2006, entered into by
Owner, as sole member, as amended by the Amended and Restated Limited Liability Company Agreement, dated as of August 31, 2008, entered into by and between Owner and the Class A Investors, as the same may be amended, modified, supplemented
or restated from time to time in accordance with its terms. 
  

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 “Maintenance Documents” means those agreements, instruments or other documents
identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Minersville Lease” means the Geothermal Resources Lease, dated as of September 25, 2007, entered into by and between Minersville and IRP, as the same may be amended, modified, supplemented or restated from time
to time in accordance with its terms. 
 “O&M Agreement” means the Operation and Maintenance Agreement, dated as
of August 31, 2008, entered into by and between Raser Power and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. [CA, LLCA] 
 “O&M Funding Request” means the O&M Funding Request substantially in the form attached to the O&M Agreement as
Exhibit B. 
 “O&M Payment Request” means the O&M Payment Request substantially in the form attached
to the O&M Agreement as Exhibit C, duly executed and delivered by the signatories thereto. 
 “Off-Take
Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Operative Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached
hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Original Operating
Agreement” has the meaning set forth in the preliminary statements of the LLC Operating Agreement.  
 “Power Purchase Agreement” means the Renewable Power Purchase and Sale Agreement, dated as of March 10, 2008, entered into by and between Anaheim and Owner, as the same may be amended, modified, supplemented or
restated from time to time in accordance with its terms. 
 “Powerhouse Contract” means the Purchase Order for a
custom powerhouse, amongst other items, dated as of March 20, 2008, entered into by and between GE and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “PPA Consent” means the Collateral Assignment Agreement, dated as of August 31, 2008, entered into by and between Anaheim,
the Collateral Agent and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Project Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

  

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 “Raser Consent” means the Consent and Agreement, dated as of August 31,
2008, entered into by and between Contractor, Owner and the Collateral Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Raser Power Consent” means the Consent and Agreement, dated as of August 31, 2008, entered into by and between Raser Power,
the Collateral Agent and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Schedule Z Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

 “Site Documents” means those agreements, instruments or other documents identified as such on Exhibit A
attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “SITLA Consent”
means the Certificate, Consent and Agreement, dated as of August 31, 2008, entered into by and between SITLA and the Collateral Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with its
terms. [Schedule Z] 
 “SITLA Lease” means the Utah State Mineral Lease Form – Geothermal Energy Lease,
dated as of July 1, 2007, entered into by and between SITLA and IRP, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. [Schedule Z] 
 “Switchboard Contract” means the Purchase Order for a transformer switchboard, dated as of March 20, 2008, entered into by
and between GE and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “Tax Equity Documents” means those agreements, instruments or other documents identified as such on Exhibit A attached hereto, as the same may be amended, modified, supplemented or restated from time to time.

 “Transaction Documents” means those agreements, instruments or other documents identified as such on Exhibit
A attached hereto, as the same may be amended, modified, supplemented or restated from time to time. 
 “Transformer
Contract” means the Purchase Order for GE Prolec 2000 KVA substation transformers, dated as of March 20, 2008, entered into by and between GE and Owner, as the same may be amended, modified, supplemented or restated from time to
time in accordance with its terms. 
 “Transmission Construction Agreement” means the Engineering, Procurement and
Construction Contract, dated as of April 7, 2008, entered into by and between Pine Valley and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
  

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 “UTC Consent” means the Consent and Agreement, dated as of August 31, 2008,
entered into by and between UTC, the Collateral Agent and Owner, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “UTC Intercreditor Agreement” means the Intercreditor Agreement, dated as of August 31, 2008, entered into by and between
the Administrative Agent, on behalf of the Lenders, Owner and UTC, as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. 
 “UTC Purchase Contract” means the Purchase Contract, dated as of August 31, 2008, entered into by and between Owner and UTC,
as the same may be amended, modified, supplemented or restated from time to time in accordance with its terms. [EPC, ASA] 
 “UTC Services Agreement” means the Amended and Restated Services Agreement, dated as of August 31, 2008, entered into by and between UTC and Owner, as the same may be amended, modified, supplemented or restated
from time to time in accordance with its terms. [O&M] 
 “UTC Step-In Agreement” means the side letter
between Owner and UTC, dated August 31, 2008. [EPC] 
  

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