Document:

EX-10.17

 Exhibit 10.17 
  

 
 CREDIT AGREEMENT 

Dated as of April 1, 2015 

among 
 SUNRUN INC., 

AEE SOLAR, INC., 
 SUNRUN SOUTH
LLC 
 and 
 SUNRUN INSTALLATION
SERVICES INC. 
 as the Borrowers, 

THE SUBSIDIARIES OF THE BORROWERS PARTY HERETO, 

as the Guarantors, 
 CREDIT SUISSE
AG, CAYMAN ISLANDS BRANCH, 
 as Administrative Agent, 

SILICON VALLEY BANK, 
 as
Collateral Agent 
 THE LENDERS PARTY HERETO 

and 
 CREDIT SUISSE SECURITIES
(USA) LLC, 
 as Sole Lead Arranger and Sole Book Runner 
  

 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 TABLE OF CONTENTS 

 

							
	 		 		Page	 
	ARTICLE I     DEFINITIONS AND ACCOUNTING TERMS		 	1	 
			
	 Section 1.01
		Defined Terms		 	1	 
	 Section 1.02
		Other Interpretive Provisions		 	46	 
	 Section 1.03
		Accounting Terms		 	47	 
	 Section 1.04
		Rounding		 	47	 
	 Section 1.05
		Times of Day		 	48	 
	 Section 1.06
		Letter of Credit Amounts		 	48	 
	 Section 1.07
		UCC Terms		 	48	 
		
	ARTICLE II     COMMITMENTS AND CREDIT EXTENSIONS		 	48	 
			
	 Section 2.01
		Loans		 	48	 
	 Section 2.02
		Borrowings, Conversions and Continuations of Loans		 	49	 
	 Section 2.03
		Letters of Credit		 	51	 
	 Section 2.04
		Prepayments		 	60	 
	 Section 2.05
		Termination or Reduction of Commitments		 	61	 
	 Section 2.06
		Repayment of Loans		 	62	 
	 Section 2.07
		Interest and Default Rate		 	62	 
	 Section 2.08
		Fees		 	63	 
	 Section 2.09
		Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate		 	63	  
	 Section 2.10
		Evidence of Debt		 	64	 
	 Section 2.11
		Payments Generally; Administrative Agent’s Clawback		 	64	 
	 Section 2.12
		Sharing of Payments by Lenders.		 	66	 
	 Section 2.13
		Cash Collateral		 	67	 
	 Section 2.14
		Defaulting Lenders		 	68	 
	 Section 2.15
		Increase in Facility		 	70	 
	 Section 2.16
		Joint and Several Liability		 	72	 
		
	ARTICLE III     TAXES, YIELD PROTECTION AND ILLEGALITY		 	72	 
			
	 Section 3.01
		Taxes		 	72	 
	 Section 3.02
		Illegality		 	77	 
	 Section 3.03
		Inability to Determine Rates		 	78	 
	 Section 3.04
		Increased Costs; Reserves on Eurodollar Rate Loans		 	78	 
	 Section 3.05
		Compensation for Losses		 	80	 
	 Section 3.06
		Mitigation Obligations; Replacement of Lenders		 	80	 
	 Section 3.07
		Survival		 	81	 
		
	ARTICLE IV     CONDITIONS PRECEDENT TO CLOSING DATE AND CREDIT EXTENSIONS		 	81	 
			
	 Section 4.01
		Conditions Precedent to Closing Date		 	81	 
	 Section 4.02
		Conditions to all Credit Extensions		 	85	 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 i 

							
	 ARTICLE V     REPRESENTATIONS AND WARRANTIES
		 	86	 
			
	 Section 5.01
		Existence, Qualification and Power		 	86	 
	 Section 5.02
		Authorization; No Contravention		 	87	 
	 Section 5.03
		Governmental Authorization; Other Consents		 	87	 
	 Section 5.04
		Binding Effect		 	87	 
	 Section 5.05
		Financial Statements; No Material Adverse Effect		 	87	 
	 Section 5.06
		Litigation		 	88	 
	 Section 5.07
		No Default or Borrowing Base Deficiency		 	88	 
	 Section 5.08
		Ownership of Property		 	88	 
	 Section 5.09
		Environmental Compliance		 	89	 
	 Section 5.10
		Insurance		 	89	 
	 Section 5.11
		Taxes		 	90	 
	 Section 5.12
		ERISA Compliance		 	90	 
	 Section 5.13
		Margin Regulations; Investment Company Act		 	91	 
	 Section 5.14
		Disclosure		 	91	 
	 Section 5.15
		Compliance with Laws		 	91	 
	 Section 5.16
		Solvency		 	92	 
	 Section 5.17
		Casualty, Etc.		 	92	 
	 Section 5.18
		Sanctions Concerns		 	92	 
	 Section 5.19
		Responsible Officers		 	92	 
	 Section 5.20
		Subsidiaries; Equity Interests; Loan Parties		 	92	 
	 Section 5.21
		Collateral Representations		 	93	 
	 Section 5.22
		Intellectual Property; Licenses, Etc.		 	95	 
	 Section 5.23
		Labor Matters		 	95	 
	 Section 5.24
		[Reserved]		 	95	 
	 Section 5.25
		Immaterial Subsidiaries		 	95	 
	 Section 5.26
		Government Regulation		 	95	 
	 Section 5.27
		Anti-Terrorism Laws		 	96	 
	 Section 5.28
		PATRIOT Act		 	96	 
	 Section 5.29
		No Ownership/Use by Disqualified Persons		 	97	 
	 Section 5.30
		Partnerships and Joint Ventures		 	97	 
	 Section 5.31
		Consumer Protection		 	97	 
	 Section 5.32
		Hawaii Tax Credits		 	97	 
	 Section 5.33
		Host Customer Agreements		 	97	 
	 Section 5.34
		Permits		 	98	 
	 Section 5.35
		Senior Indebtedness		 	98	 
		
	ARTICLE VI     AFFIRMATIVE COVENANTS		 	98	 
			
	 Section 6.01
		Financial Statements		 	98	 
	 Section 6.02
		Certificates; Other Information		 	99	 
	 Section 6.03
		Notices		 	102	 
	 Section 6.04
		Payment of Obligations		 	103	 
	 Section 6.05
		Preservation of Existence, Etc.		 	103	 
	 Section 6.06
		Maintenance of Properties		 	104	 
	 Section 6.07
		Maintenance of Insurance		 	104	 
	 Section 6.08
		Compliance with Laws		 	105	 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 ii 

							
	 Section 6.09
		Books and Records		 	105	 
	 Section 6.10
		Inspection Rights		 	105	 
	 Section 6.11
		Use of Proceeds		 	106	 
	 Section 6.12
		[Reserved]		 	106	 
	 Section 6.13
		Covenant to Guarantee Obligations		 	106	 
	 Section 6.14
		Covenant to Give Security		 	107	 
	 Section 6.15
		Further Assurances		 	108	 
	 Section 6.16
		Compliance with Environmental Laws		 	109	 
	 Section 6.17
		Title		 	109	 
	 Section 6.18
		Compliance with Anti-Terrorism Laws		 	109	 
		
	ARTICLE VII   NEGATIVE COVENANTS		 	110	 
			
	 Section 7.01
		Liens		 	110	 
	 Section 7.02
		Indebtedness		 	112	 
	 Section 7.03
		Investments		 	114	 
	 Section 7.04
		Fundamental Changes		 	115	 
	 Section 7.05
		Dispositions		 	116	 
	 Section 7.06
		Restricted Payments		 	117	 
	 Section 7.07
		Change in Nature of Business		 	117	 
	 Section 7.08
		Transactions with Affiliates		 	118	 
	 Section 7.09
		Burdensome Agreements		 	118	 
	 Section 7.10
		Margin Stock		 	118	 
	 Section 7.11
		Financial Covenants		 	118	 
	 Section 7.12
		Amendments of Organization Documents and Material Contracts; Fiscal Year; Legal Name, State of Formation; Form of Entity and Accounting Changes		 	119	 
	 Section 7.13
		Sale and Leaseback Transactions		 	119	 
	 Section 7.14
		Disqualified Person		 	119	 
	 Section 7.15
		Amendments to Host Customer Agreements, Back-Log Spreadsheets or Take-Out Spreadsheets		 	119	 
	 Section 7.16
		[Reserved]		 	120	 
	 Section 7.17
		[Reserved]		 	120	 
	 Section 7.18
		Partnerships and Joint Ventures		 	120	 
	 Section 7.19
		ERISA		 	120	 
	 Section 7.20
		Secured Hedge Agreements		 	120	 
		
	 ARTICLE VIII     EVENTS OF DEFAULT AND REMEDIES
		 	120	 
			
	 Section 8.01
		Events of Default		 	120	 
	 Section 8.02
		Remedies upon Event of Default		 	123	 
	 Section 8.03
		Application of Funds		 	123	 
		
	 ARTICLE IX     ADMINISTRATIVE AGENT; COLLATERAL AGENT
		 	125	 
			
	 Section 9.01
		Appointment and Authority		 	125	 
	 Section 9.02
		Rights as a Lender		 	125	 
	 Section 9.03
		Exculpatory Provisions		 	126	 
	 Section 9.04
		Reliance by Administrative Agent and Collateral Agent		 	127	 
	 Section 9.05
		Delegation of Duties		 	128	 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 iii 

							
	 Section 9.06
		Resignation of Administrative Agent or Collateral Agent		 	128	 
	 Section 9.07
		Non-Reliance on Administrative Agent and Other Lenders		 	130	 
	 Section 9.08
		No Other Duties, Etc.		 	130	 
	 Section 9.09
		Administrative Agent May File Proofs of Claim; Credit Bidding		 	130	 
	 Section 9.10
		Collateral and Loan Party Guarantee Matters		 	132	 
	 Section 9.11
		Secured Cash Management Agreements and Secured Hedge Agreements		 	133	 
	 Section 9.12
		Field Examinations		 	133	 
		
	ARTICLE X     CONTINUING GUARANTY		 	133	 
			
	 Section 10.01
		Loan Party Guarantee		 	133	 
	 Section 10.02
		Rights of Lenders		 	134	 
	 Section 10.03
		Certain Waivers		 	134	 
	 Section 10.04
		Obligations Independent		 	134	 
	 Section 10.05
		Subrogation		 	135	 
	 Section 10.06
		Termination; Reinstatement		 	135	 
	 Section 10.07
		Stay of Acceleration		 	135	 
	 Section 10.08
		Condition of Borrowers		 	135	 
	 Section 10.09
		Appointment of Borrowers		 	136	 
	 Section 10.10
		Right of Contribution		 	136	 
	 Section 10.11
		Keepwell		 	136	 
		
	ARTICLE XI     MISCELLANEOUS		 	136	 
			
	 Section 11.01
		Amendments, Etc.		 	136	 
	 Section 11.02
		Notices; Effectiveness; Electronic Communications		 	139	 
	 Section 11.03
		No Waiver; Cumulative Remedies; Enforcement		 	141	 
	 Section 11.04
		Expenses; Indemnity; Damage Waiver		 	142	 
	 Section 11.05
		Payments Set Aside		 	144	 
	 Section 11.06
		Successors and Assigns		 	144	 
	 Section 11.07
		Treatment of Certain Information; Confidentiality		 	149	 
	 Section 11.08
		Right of Setoff		 	151	 
	 Section 11.09
		Interest Rate Limitation		 	151	 
	 Section 11.10
		Counterparts; Integration; Effectiveness		 	151	 
	 Section 11.11
		Survival of Representations and Warranties		 	152	 
	 Section 11.12
		Severability		 	152	 
	 Section 11.13
		Replacement of Lenders		 	152	 
	 Section 11.14
		Governing Law; Jurisdiction; Etc.		 	153	 
	 Section 11.15
		Waiver of Jury Trial		 	154	 
	 Section 11.16
		Subordination		 	155	 
	 Section 11.17
		No Advisory or Fiduciary Responsibility		 	155	 
	 Section 11.18
		Electronic Execution of Assignments and Certain Other Documents		 	156	 
	 Section 11.19
		USA PATRIOT Act Notice		 	156	 
	 Section 11.20
		Time of the Essence		 	156	 
	 Section 11.21
		No Novation		 	157	 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 iv 

			
	BORROWER PREPARED SCHEDULES
		
	Schedule 1.01(c)		Authorized Officers
	Schedule 1.01(d)		Existing Letters of Credit
	Schedule 4.01(t)		No Litigation
	Schedule 5.06		Litigation
	Schedule 5.10		Insurance
	Schedule 5.20(a)		Subsidiaries, Partnerships and Other Equity Investments
	Schedule 5.20(b)		Loan Parties
	Schedule 5.21(c)		Documents, Instrument, and Tangible Chattel Paper
	Schedule 5.21(d)(i)		Deposit Accounts & Securities Accounts
	Schedule 5.21(d)(ii)		Electronic Chattel Paper & Letter-of-Credit Rights
	Schedule 5.21(e)		Commercial Tort Claims
	Schedule 5.21(f)		Pledged Equity Interests
	Schedule 5.21(g)(i)		Mortgaged Properties
	Schedule 5.21(g)(ii)		Other Properties
	Schedule 5.21(h)		Material Contracts
	Schedule 6.14(d)(i)(D)		Excluded Deposit Accounts
	Schedule 7.01		Existing Liens
	Schedule 7.02		Existing Indebtedness
	Schedule 7.03		Existing Investments
	
	ADMINISTRATIVE AGENT PREPARED SCHEDULES
		
	Schedule 1.01(a)		Certain Addresses for Notices
	Schedule 1.01(b)		Initial Commitments and Applicable Percentages
	Schedule 1.01(e)		Mortgaged Property Support Documentation
	
	EXHIBITS
		
	Exhibit A		Form of Administrative Questionnaire
	Exhibit B		Form of Assignment and Assumption
	Exhibit C		Form of Compliance Certificate
	Exhibit D		Form of Joinder Agreement
	Exhibit E		Form of Loan Notice
	Exhibit F		Form of Permitted Acquisition Certificate
	Exhibit G		Form of Revolving Note
	Exhibit H		Form of Secured Party Designation Notice
	Exhibit I		Form of Solvency Certificate
	Exhibit J		Form of Officer’s Certificate
	Exhibit K		Forms of U.S. Tax Compliance Certificates
	Exhibit L		Form of Funding Indemnity Letter
	 Exhibit M-1
 Exhibit M-2
		 Form of Bailee Agreement
 Form of Landlord
Waiver

	Exhibit N		Form of Financial Condition Certificate
	Exhibit O		Form of Authorization to Share Insurance Information

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 v 

			
	Exhibit P		Form of Borrowing Base Certificate
	Exhibit Q		Form of Back-Log Spreadsheet
	Exhibit R		Form of Take-Out Spreadsheet
	Exhibit S		Form of Financial Covenants Certificate

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 vi 

 CREDIT AGREEMENT 

This CREDIT AGREEMENT is entered into as of April 1, 2015, by and among SUNRUN INC., a Delaware corporation
(“Sunrun”), AEE SOLAR, INC., a California corporation (“AEE Solar”), SUNRUN SOUTH LLC, a Delaware limited liability company, and SUNRUN INSTALLATION SERVICES INC., a Delaware corporation (“Sunrun
Installation Services”) (each, a “Borrower” and, collectively, the “Borrowers”), the Guarantors (defined herein), the Lenders (defined herein), CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH (“Credit
Suisse”), as the Administrative Agent, SILICON VALLEY BANK, as the Collateral Agent, and CREDIT SUISSE SECURITIES (USA) LLC, as the Lead Arranger and Book Runner. 

PRELIMINARY STATEMENTS: 

WHEREAS, the Borrowers have requested that the Lenders make loans and other financial accommodations to the Borrowers in an aggregate
amount of up to $205,000,000. 
 WHEREAS, the Lenders have agreed to make such loans and other financial accommodations to the
Borrowers on the terms and subject to the conditions set forth herein; 
 NOW THEREFORE, in consideration of the mutual conditions
and agreements set forth in this Agreement, and for good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 
 DEFINITIONS
AND ACCOUNTING TERMS 
 Section 1.01    Defined Terms. 

As used in this Agreement, the following terms shall have the respective meanings set forth below: 

“Account Debtor” shall mean the party who is obligated on or under any Account. 

“Accounts” shall mean all presently existing and hereafter arising accounts, contract rights, payment intangibles and all
other forms of obligations owing to a Borrower, a Guarantor or an Excluded Subsidiary, as applicable, including, without limitation, (a) Customer Prepayments, (b) obligations of the State of Hawaii to make payments to a Borrower or Project
Fund in lieu of granting a Hawaii Tax Credit, or (c) accounts or accounts receivable as defined under the UCC, including without limitation, with respect to any Person, any right of such Person to payment for goods sold or leased or for
services rendered. 
 “Acquisition” means the acquisition, whether through a single transaction or a series of related
transactions, of (a) majority of the Voting Stock or other controlling ownership interest in another Person (including the purchase of an option, warrant or convertible or similar type security to acquire such a controlling interest at the time
it becomes exercisable by the holder thereof), whether by purchase of such equity or other ownership interest or upon the exercise of 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 
an option or warrant for, or conversion of securities into, such equity or other ownership interest, or (b) assets of another Person which constitute all or substantially all of the assets
of such Person or of a division, line of business or other business unit of such Person. 
 “Additional Secured
Obligations” means (a) all obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including
the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that
accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims
in such proceeding; provided that, Additional Secured Obligations of a Loan Party shall exclude any Excluded Swap Obligations with respect to such Loan Party. 

“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, in its capacity as sole administrative agent under any
of the Loan Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means the
Administrative Agent’s address and, as appropriate, account as set forth on Schedule 1.01(a), or such other address or account as the Administrative Agent may from time to time notify the Borrowers and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit A or
any other form approved by the Administrative Agent. 
 “Affiliate” means, with respect to a specified Person, another
Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Aggregate Commitments” means the Commitments of all the Lenders. 

“Agreement” means this Credit Agreement. 

“Anti-Terrorism Laws” means any Federal laws of the United States of America relating to terrorism, money laundering,
bribery, corruption or sanctions, including Executive Order 13224, FCPA, the PATRIOT Act and the regulations administered by OFAC. 

“Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place)
of the Facility represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section 2.14. If the Commitment of all of the Lenders to make Revolving Loans and the obligation of the L/C Issuer to make L/C
Credit Extensions have been terminated pursuant to Section 8.02, or if the Commitments have expired, then the Applicable Percentage of each Lender in respect of the Facility shall be determined based on the Applicable Percentage of such Lender
in respect of the Facility most recently in effect, giving effect to any subsequent assignments. The Applicable Percentage of each Lender in respect of the Facility is set forth opposite the name of such Lender on Schedule 1.01(b) or in
the Assignment and Assumption pursuant to which such Lender becomes a party hereto, or in any documentation executed by such Lender pursuant to Section 2.15, as applicable. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 2 

 “Applicable Permit” means any Permit, including any Environmental Permit or
zoning, FERC, any state public utility commission, safety, siting or building Permit (a) that is material and necessary at any given time to (i) design, construct, operate, maintain, repair, own or use any Project as contemplated by the
Loan Documents or the Host Customer Agreements, (ii) sell electric energy, capacity, or ancillary services, or renewable energy credits, “green tags,” or other like environmental credits or benefits therefrom, or (iii) consummate
any transaction contemplated by the Loan Documents or the Host Customer Agreements, or (b) that is necessary so that (i) none of the Administrative Agent, the Collateral Agent, any Lender, or any Affiliate of any of them may be deemed by
any Governmental Authority to be subject to regulation under the FPA or PUHCA or under any state laws or regulations respecting the rates or the financial or organizational regulation of electric utilities solely as a result of the construction or
operation of any such Project or the sale of electricity or renewable energy credits, “green tags” or other like environmental credits or benefits therefrom, or (ii) neither the Borrowers nor any of their Affiliates may be deemed by
any Governmental Authority to be subject to, or not exempted from, regulation under the FPA, PUHCA (other than Section 1265 thereof or any regulation applicable to “exempt wholesale generators” or “foreign utility companies”
under Section 1262(6) of PUHCA), as applicable, or state laws or regulations respecting the rates or the financial or organizational regulation of electric utilities. 

“Applicable Rate” means, for (a) Revolving Loans that are Base Rate Loans, 2.25%, (b) Revolving Loans that are
Eurodollar Rate Loans, 3.25%, (c) the Letter of Credit Fee, 3.25%, and (d) the Commitment Fee, 0.50%. 
 “Applicable
Revolving Percentage” means with respect to any Lender at any time, such Lender’s Applicable Percentage in respect of the Facility at such time. 

“Appraisal” means the appraisal acquired by the Borrowers every quarter which (i) is from a nationally recognized
third-party appraiser that (A) is qualified to appraise independent electric generating businesses and (B) (x) has been engaged in the appraisal or business valuation and consulting business for no fewer than three (3) years or
(y) is otherwise acceptable to the Collateral Agent, and (ii) (A) is approved by the applicable Tax Equity Investor and (B) shows the fair market value of new residential photovoltaic systems in each of the States of the United
States in which Projects are being Tranched, in each case expressed in terms of dollars per watt of installed capacity. 

“Appropriate Lender” means, at any time, (a) with respect to the Facility, a Lender that has a Commitment or holds a
Revolving Loan at such time, and (b) with respect to the Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if any Letters of Credit have been issued pursuant to Section 2.03, the Lenders. 

“Approved Fund” means any Fund 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. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 3 

 “Arranger” means Credit Suisse Securities (USA) LLC, in its capacity as
sole lead arranger and sole book runner, or any successor arranger and book runner. 
 “ARRA” means the American Recovery
and Reinvestment Act of 2009, Pub. L. No. 111-5, as amended. 
 “Assignment and Assumption” means an assignment
and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit B or any
other form (including electronic documentation generated by MarkitClear or other electronic platform) approved by the Administrative Agent. 

“Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the capitalized
amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease or similar payments under
the relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other agreement or instrument were accounted for as a Capitalized
Lease. 
 “Audited Financial Statements” means the audited Consolidated balance sheet of Sunrun and its Subsidiaries for
the fiscal year ended December 31, 2014, and the related Consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of Sunrun and its Subsidiaries, including the notes thereto. 

“Availability Period” means in respect of the Facility, the period from and including the Closing Date to the earliest of
(i) the Maturity Date for the Facility, (ii) the date of termination of the Commitments pursuant to Section 2.05, and (iii) the date of termination of the Commitment of each Lender to make Revolving Loans and of the obligation of
the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02. 
 “Available Take-Out” means, as of a given
date of determination, the sum of (a) the aggregate amount of each Tax Equity Investor’s undrawn Tax Equity Commitment plus all drawn but unused amounts under such Tax Equity Commitment, (b) the aggregate amount of committed and
undrawn Backlever Financing, in each case as set forth in the Take-Out Spreadsheet and (c) the aggregate amount of committed and undrawn financings acceptable to the Collateral Agent and the Required Lenders (and not otherwise covered by
(a) or (b)); provided that any such Tax Equity Commitment or Backlever Financing not existing as of the Closing Date shall have been approved for inclusion in the Borrowing Base pursuant to Section 2.01(b). 

“Backlever Financing” means Indebtedness for borrowed money incurred by an Excluded Subsidiary where (i) such
Indebtedness is made pursuant to an accounts receivable financing, a factoring facility or other similar financing; (ii) such Indebtedness is incurred only with respect to Projects that have been Tranched; (iii) any of the Loan Parties
does not guaranty the payment of debt service for such Indebtedness; and (iv) the Person providing the financing for such Indebtedness maintains no interest in, right or title to any Available Take-Out (other than a Backlever Financing). 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 4 

 “Back-Log Spreadsheet” means a spreadsheet for Projects, substantially in the
form attached hereto as Exhibit Q, providing for the status and amount of Project Back-Log. 
 “Base Rate”
means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Administrative Agent as its prime
rate (the “Prime Rate”) and (c) the Eurodollar Rate plus 1.00%. The Prime Rate is a rate set by the Administrative Agent based upon various factors including the Administrative Agent’s costs and desired return,
general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in the Prime Rate announced by the Administrative Agent shall take effect
at the opening of business on the day specified in the announcement of such change. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Rate or the Eurodollar Rate shall be effective on the effective date of such change
in the Prime Rate, the Federal Funds Rate or the Eurodollar Rate, as the case may be. 
 “Base Rate Loan” means a Revolving
Loan that bears interest based on the Base Rate. 
 “Borrower” and “Borrowers” have the meaning specified
in the introductory paragraph hereto. 
 “Borrower Materials” has the meaning specified in Section 6.02. 

“Borrowing” means a Revolving Borrowing. 

“Borrowing Base” means, as of any date of determination, the sum of the following: 

(a) the least of (i) [***] of the appraised fair market value of Eligible Project Back-Log (net of terminated contracts,
which will be calculated as reported on the monthly Borrowing Base Certificate) for Projects (less cash sale Projects accounted for in clause (e) below), (ii) [***] of Eligible Take-Out less Backlever Financing required to collateralize
clause (b) and (iii) [***] of Net Retained Value; plus 
 (b) [***] of committed but undrawn Backlever Financing
proceeds for Projects that have been sold or contributed to a Project Fund or a Tax Equity Investor (and removed from Eligible Project Back-Log in clause (a)); plus 

(c) [***] of the Eligible Hawaii Tax Credit Receivables expected to be received on Projects that have achieved Milestone One,
up to a maximum of [***]; plus 
 (d) [***] of the Eligible Customer Upfront Payment Receivables expected to be received on
Projects that have achieved Milestone One; plus 
 (e) [***] of the estimated final sale value of direct cash sale Projects
in the Project Back-Log as of a given date of determination (regardless of whether the payment is made directly by the consumer or a lender or financing party on behalf of the consumer); plus 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 5 

 (f) [***] of the Eligible Trade Accounts of the Borrowing Base Obligors; plus

 (g) [***] of Eligible Inventory for sale to third parties held by the Borrowing Base Obligor that is AEE Solar as of a
given date of determination, up to a maximum of [***]; 
 provided that (w) the components of the formula for calculation of the Borrowing Base
set forth above (including eligibility criteria) shall be determined by a field examination conducted on behalf of the Collateral Agent prior to the Closing Date with results reasonably satisfactory to the Collateral Agent, and Eligible Inventory
comprising the components of clause (g) of such formula shall be subject to appraisal at the request of the Collateral Agent with results reasonably satisfactory to the Collateral Agent; (x) the components of clauses (c) and
(d) of formula for calculation of the Borrowing Base set forth above shall be factually supportable and reasonably expected to be received on the applicable Projects in the good faith judgment of the Borrowers, (y) the Borrowing Base shall
be determined on the basis of the most current Borrowing Base Certificate required or permitted to be submitted hereunder, and (z) if the Collateral Agent, at the direction or with the concurrence of the Required Lenders, in their good faith
business judgment based on events, conditions, contingencies or risks reasonably determines that the foregoing amounts and percentages, if left unchanged, would reasonably be expected to result in a material overvaluation of the Collateral, then the
Collateral Agent shall give the Borrowers written notice of suggested amendments to the Borrowing Base calculation and the justification for such changes and the Parties shall work in good faith to revise such amounts and percentages. For purposes
of this provision, if the Collateral is overvalued by 5% or more, such overvaluation shall be deemed to be a material overvaluation of the Collateral. 

“Borrowing Base Certificate” means a certificate substantially in the form of Exhibit P. 

“Borrowing Base Deficiency” means, at any time of determination, the failure of the Borrowing Base to exceed the Total
Outstandings. Such determination shall be made based on the most recently delivered Borrowing Base Certificate and Total Outstandings as reflected in the Register. 

“Borrowing Base Obligors” shall mean AEE Solar and Sunrun Installation Services, and “Borrowing Base
Obligor” shall mean any of them, as the context shall indicate. 
 “Business Day” means any day other than a
Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan,
means any such day that is also a London Banking Day. 
 “CAD Project” means, at any time, any Project (i) the PV
System related to which has not been installed as of such time, (ii) with respect to which a Loan Party has (A) entered into a Host Customer Agreement and (B) completed a system design, in each case, at such time, (iii) with
respect to which the Loan Parties have not received all necessary permits from any Governmental Authority required to be obtained prior to installation of the related PV System and (iv) that has not been Tranched as of such time. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 6 

 “Capital Expenditures” means, with respect to any Person for any period, any
expenditure in respect of the purchase or other acquisition of any fixed or capital asset (excluding (i) acquisitions of PV Systems made in the ordinary course of business and (ii) normal replacements and maintenance which are properly
charged to current operations). 
 “Capitalized Leases” means all leases that have been or should be, in accordance with
GAAP, recorded as capitalized leases. 
 “Cash Collateral Account” means a blocked, non-interest bearing deposit account of
one or more of the Loan Parties at a bank acceptable to the Administrative Agent, in the name of the Collateral Agent and under the sole dominion and control of the Collateral Agent, and otherwise established in a manner satisfactory to the
Collateral Agent. 
 “Cash Collateralize” means, to pledge and deposit with or deliver to the Collateral Agent, for the
benefit of one or more of the L/C Issuers or the Lenders, as collateral for L/C Obligations, the Obligations, or obligations of the Revolving Lenders to fund participations in respect of L/C Obligations, (a) cash or deposit account balances,
(b) backstop letters of credit entered into on terms, from issuers and in amounts satisfactory to the Collateral Agent and the applicable L/C Issuer, and/or (c) if the Collateral Agent and the applicable L/C Issuer shall agree, in their
sole discretion, other credit support, in each case, in Dollars and pursuant to documentation in form and substance satisfactory to the Collateral Agent and such L/C Issuer. “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such Cash Collateral and other credit support. 
 “Cash Consideration” means,
with respect to any Acquisition, as at the date of consummation of such Acquisition, the amount of any cash and fair market value or other property including earnout payments (excluding Equity Consideration and the unpaid principal amount of any
debt instrument) given as consideration in connection with such Acquisition. 
 “Cash Equivalents” means any of the
following types of investments, to the extent owned by the Borrowers or any of their Subsidiaries free and clear of all Liens (other than Permitted Liens): 

(a) readily marketable obligations issued or directly and fully guaranteed or insured by the United States or any agency or
instrumentality thereof having maturities of not more than three hundred sixty days (360) days from the date of acquisition thereof; provided that, the full faith and credit of the United States is pledged in support thereof; 

(b) time deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that
(i) (A) is a Lender or (B) is organized under the laws of the United States, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States,
any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (c) of this definition and (iii) has combined
capital and surplus of at least $1,000,000,000, in each case with maturities of not more than one hundred eighty (180) days from the date of acquisition thereof; 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 7 

 (c) commercial paper issued by any Person organized under the laws of any state
of the United States and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, in each case with maturities of not more than one hundred eighty
(180) days from the date of acquisition thereof; and 
 (d) Investments, classified in accordance with GAAP as current
assets of the Borrowers or any of their Subsidiaries, in money market investment programs registered under the Investment Company Act, which are administered by financial institutions that have the highest rating obtainable from either Moody’s
or S&P, and the portfolios of which are limited solely to Investments of the character, quality and maturity described in clauses (a), (b) and (c) of this definition. 

“Cash Management Agreement” means any agreement that is not prohibited by the terms hereof to provide treasury or cash
management services, including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated clearinghouse, zero balance accounts, returned check concentration,
controlled disbursement, lockbox, account reconciliation and reporting and trade finance services and other cash management services. 

“Cash Management Bank” means any Person in its capacity as a party to a Cash Management Agreement that, (a) at the time
it enters into a Cash Management Agreement with a Loan Party, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes a Lender, is a party to a Cash Management Agreement with a Loan Party, in each case in its
capacity as a party to such Cash Management Agreement (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided, however, that for any of the foregoing to be included as a “Secured
Cash Management Agreement” on any date of determination by the Administrative Agent, the applicable Cash Management Bank (other than the Administrative Agent or an Affiliate of the Administrative Agent) must have delivered a Secured Party
Designation Notice to the Administrative Agent prior to such date of determination. 
 “CEE” means Clean Energy Experts
LLC, a California limited liability company, as existing prior to the Closing Date, which has been merged into LH Merger Sub 2 as of the Closing Date (with LH Merger Sub 2 being the surviving entity). 

“CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended. 

“CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information System maintained by the
U.S. Environmental Protection Agency. 
 “CFC” means a Person that is a controlled foreign corporation under
Section 957 of the Code. 
  
 [***] Confidential treatment has been requested for
the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 8 

 “Change in Law” means the occurrence, after the Closing Date, of any of the
following: (a) the adoption or taking effect of any Law, (b) any change in any Law or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or issuance of any
request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection
Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law,” regardless of the date enacted, adopted
or issued. 
 “Change of Control” means an event or series of events by which: 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange
Act, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is
exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 35% or more of the Equity Interests of any Borrower entitled to vote for members of the board of directors or
equivalent governing body of such Borrower on a fully-diluted basis (and taking into account all such securities that such “person” or “group” has the right to acquire pursuant to any option right); or 

(b) during any period of twelve (12) consecutive months, a majority of the members of the board of directors or other
equivalent governing body of any Borrower ceases to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent
governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that
board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body. 

“Closing Date” means the date hereof. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means all of the “Collateral” and “Mortgaged Property” referred to in the
Collateral Documents and all of the other property that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Collateral Agent for the benefit of the Secured Parties. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 9 

 “Collateral Agent” means Silicon Valley Bank in its capacity as sole collateral
agent under any of the Loan Documents, or any successor collateral agent. 
 “Collateral Access Agreement” shall mean a
bailee agreement, landlord waiver or other collateral access agreement in form and substance satisfactory to the Collateral Agent in its sole discretion (it being acknowledged and agreed that any bailee agreement substantially in the form of
Exhibit M-1 or any landlord waiver substantially in the form of Exhibit M-2 is satisfactory to the Collateral Agent), pursuant to which a mortgagee or lessor of real property on which over $1,000,000 worth of Collateral is stored or
otherwise located, including the premises located at 1 Chestnut Street, Suite 222, Nashua, New Hampshire 03060 or at 1227 Striker Avenue, Suite 260, Sacramento, California 95834, containing inventory or other Collateral owned by any Borrower or
Guarantor, or a warehouseman, processor or other bailee of over $1,000,000 worth of inventory or other property owned by any Borrower or Guarantor, acknowledges the Liens under the Collateral Documents and subordinates or waives any Liens held by
such Person on such property, and such other agreements with respect to the Collateral as the Collateral Agent may require in its reasonable discretion, as the same may be amended, restated or otherwise modified from time to time. 

“Collateral Documents” means, collectively, the Security Agreement, the Mortgages, the Collateral Access Agreements, any
related Mortgaged Property Support Documents, each Joinder Agreement, each of the mortgages, collateral assignments, security agreements, pledge agreements or other similar agreements delivered to the Collateral Agent pursuant to Section 6.14,
and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Collateral Agent for the benefit of the Secured Parties. 

“Commitment” means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to
Section 2.01(b) and (b) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01(b) under the
caption “Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 

“Commitment Fee” has the meaning set forth in Section 2.08(a). 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any
successor statute. 
 “Competitor” means any Person that is primarily in the business of developing, owning, installing,
constructing or operating solar equipment and providing solar electricity from such solar equipment to residential customers located in jurisdictions where the Loan Parties are then doing business, primarily through power purchase agreements,
customer service or lease agreements or capital loan products and not through direct sales of solar panels or any Affiliate of such a Person, but shall not include any back-up servicer or any Person engaged in the business of making loans in respect
of, or passive ownership or tax equity investments in, such solar equipment and associated businesses so long as such Person has in place procedures to prevent the distribution of confidential information that is prohibited under the Loan Documents;

  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 10 

 
provided that (x) the Administrative Agent shall have no duties or responsibilities for monitoring or enforcing prohibitions on assignments to Competitors or have any liability with
respect to or arising out of any assignment of Loans, or disclosure of confidential information, to any Competitor, (y) in no event shall any bank or other financial institution (other than any venture capital or private equity firm that owns
any interest in one or more Competitors) be deemed a Competitor and (z) in no event shall any debt fund Affiliate of a Competitor (i.e. a debt fund Affiliate of a venture capital or private equity firm) be deemed a Competitor; provided,
further, that in the case of (z), such debt fund Affiliate has in place procedures to prevent the distribution of confidential information that is prohibited under the Loan Documents. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit C. 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or
that are franchise Taxes or branch profits Taxes. 
 “Consolidated” means, when used with reference to financial statements
or financial statement items of any Person, such statements or items on a consolidated basis in accordance with the consolidation principles of GAAP. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“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 ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Cost of Acquisition” means, with respect to any Acquisition, as at the date of entering into any agreement therefor, the sum
of the following (without duplication): (a) Equity Consideration, (b) Cash Consideration, (c) the amount (determined by using the face amount or the amount payable at maturity, whichever is greater) of any Indebtedness incurred,
assumed or acquired by any Borrower or any Subsidiary thereof in connection with such Acquisition, (d) a reasonable estimate of all additional purchase price amounts in the form of earn outs and other contingent obligations that should be
recorded on the financial statements of the Borrowers and their Subsidiaries in accordance with GAAP in connection with such Acquisition, (e) a reasonable estimate of all amounts paid in respect of covenants not to compete, consulting
agreements that should be recorded on the financial statements of the Borrowers and their Subsidiaries in accordance with GAAP, and other affiliated contracts in connection with such Acquisition, and (f) the aggregate fair market value of all
other consideration given by any Borrower or any Subsidiary thereof in connection with such Acquisition. 
 “Credit
Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 
 “Credit
Suisse” has the meaning specified in the introductory paragraph hereto. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 11 

 “Customer Lease Agreement” means a lease agreement entered into by a Borrower
(which may subsequently be transferred to an Excluded Subsidiary or Tax Equity Investor) and its customer, pursuant to which such customer agrees to lease a PV System from such Borrower in the ordinary course of business. 

“Customer Prepayments” shall mean those initial lump-sum prepayments owing from a customer to any Borrower or an Excluded
Subsidiary pursuant to the applicable Host Customer Agreement. 
 “Debtor Relief Laws” means the Bankruptcy Code of the
United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other
applicable jurisdictions from time to time in effect. 
 “Default” means any event or condition that constitutes an Event
of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default
Rate” means (a) with respect to any Obligation for which a rate is specified, a rate per annum equal to two percent (2.0%) in excess of the rate otherwise applicable thereto and (b) with respect to any Obligation for which a
rate is not specified or available, a rate per annum equal to the Base Rate plus the Applicable Rate for Revolving Loans that are Base Rate Loans plus two percent (2%), in each case, to the fullest extent permitted by applicable Law. 

“Defaulting Lender” means, subject to Section 2.14(b), any Lender that (a) has failed to (i) fund all or any
portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrowers in writing that such failure is the result of such
Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the
Administrative Agent, the L/C Issuer or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two (2) Business Days of the date when due, (b) has
notified the Borrowers, the Administrative Agent or the L/C Issuer in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to
such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be
specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrowers, to confirm in writing to the
Administrative Agent and the Borrowers that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written
confirmation by the Administrative Agent and the Borrowers), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver,
custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or
federal regulatory authority acting in such a capacity; 
  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 12 

 
provided that, a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company
thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on
its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under
any one or more of clauses (a) through (d) above, and the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.14(b)) as
of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrowers, the L/C Issuer and each other Lender promptly following such
determination. 
 “Deposit Account” has the meaning set forth in the UCC. 

“Designated Jurisdiction” means any country or territory to the extent that such country or territory is the subject of any
Sanction. 
 “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition
(including any Sale and Leaseback Transaction) of any property (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts
receivable or any rights and claims associated therewith. 
 “Disqualified Person” means: 

 

	 	(a)	a Person that is a “tax-exempt entity” or a “tax-exempt controlled entity” within the meaning of Section 168(h) of the Code; 

 

	 	(b)	an entity described in Sections 46(e), 46(f) or 46(g) of the Code, in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990; or 

 

	 	(c)	a Person that is for U.S. federal income tax purposes an entity disregarded as separate from its owner or a partnership a direct or indirect owner of a beneficial interest in which is a Person described in
(a) or (b) above, unless such Person holds its interest through a taxable C Corporation (as defined in the Code) that either (i) is not a “tax-exempt controlled entity” within the meaning of Section 168(h) of the Code
or (ii) is not treated as a “tax-exempt controlled entity” under Section 168(h)(6)(F) of the Code because it has made an election under Section 168(h)(6)(F)(ii) of the Code; 

provided that a Person will not be treated as a Disqualified Person if it is demonstrated to the satisfaction of the Administrative Agent and the
Lenders that a loss or recapture of ITC will not occur as a result of such Person owning a direct or indirect interest in the Borrowers. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 13 

 “Dollar” and “$” mean lawful money of the United States. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 11.06 (subject to such
consents, if any, as may be required under Section 11.06(b)(iii)). 
 “Eligible Customer Upfront Payment Receivables”
means those Accounts consisting of Customer Prepayment obligations under the Host Customer Agreements that (a) are due and owing to a Borrower, either directly or by assignment from an Excluded Subsidiary, pursuant to the Host Customer
Agreement as a result of the applicable Project achieving Milestone One, (b) arise in the ordinary course of such Borrower or Excluded Subsidiary’s business, (c) comply with all of the related representations and warranties set forth
in Section 5.33 of this Agreement, (d) will be paid into an account permitted by the Loan Documents or into a deposit account maintained by a Project Fund, and (e) are not subject to any Backlever Financing or other financing
arrangement, except to the extent approved by the Collateral Agent. Unless otherwise agreed to by the Collateral Agent, Eligible Customer Upfront Payment Receivables shall not include Accounts with respect to an Account Debtor that have not been
paid (a) within 120 days of achievement of Milestone One, if Milestone Three has not been achieved during such 120-day period, or (b) within 180 days of achievement of Milestone Three. 

“Eligible Hawaii Tax Credit Receivables” means those Accounts consisting of obligations of the State of Hawaii to make
payments to a Project Fund in lieu of Hawaii Tax Credits, which Accounts, with respect to a particular Project Fund, (i) arise in the ordinary course of business of such Project Fund after Milestone One has been achieved, (ii) comply with
all of the related representations and warranties set forth in Section 5.32 of this Agreement, (iii) have been assigned by such Project Fund to a Borrower and (iv) are not subject to any Backlever Financing or other financing
arrangement, except to the extent approved by Collateral Agent; provided that at the time of the initial Credit Extension based on a Borrowing Base Certificate that includes Eligible Hawaii Tax Credit Receivables, (a) the State of Hawaii
meets the Minimum Credit Rating Requirement, (b) the Hawaii Tax Credit Program is in full force and effect and there has not occurred, and there is not reasonably likely to occur, a material change in the Hawaii Tax Credit Program that could
reasonably be expected to result in the ineligibility, restriction or other impediment to any Project Fund, any other applicable Excluded Subsidiary or any Borrower (directly or indirectly from a Project Fund) receiving such payments in lieu of
Hawaii Tax Credits; provided, however, that a reduction in the amount of the Hawaii Tax Credit that a Project Fund is eligible for or in the amount of the Eligible Hawaii Tax Credit Receivable that a Project Fund is entitled to shall
not be deemed to be a material change in the Hawaii Tax Credit program so long as any such reduction results in a corresponding reduction in the amount of the Eligible Hawaii Tax Credit Receivable, and (c) the Borrowers have demonstrated to the
Collateral Agent that the applicable Project Funds, the other applicable Excluded Subsidiaries and the Borrowers are not and could not reasonably be expected to be subject to any Hawaii Income Taxes assessed by the State of Hawaii for the period for
which such payment in lieu of the Hawaii Tax Credit applies. Unless otherwise agreed to by the Collateral Agent, “Eligible Hawaii Tax Credit Receivables” shall not include Accounts with respect to an Account Debtor that have not been paid
within [***] months of the last day of the calendar year in which Milestone Three was achieved; provided that an Account shall be deemed an “Eligible Hawaii Tax Credit Receivable” if (i) the applicable system of a Project
Fund related to such Account has 
  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 14 

 
achieved Milestone Two on or prior to December 31, 2014, (ii) such system achieves Milestone Three on or prior to December 31, 2015 and (iii) such Account does not remain
unpaid beyond fifteen (15) months following the calendar year ending December 31, 2015. 
 “Eligible Inventory”
shall mean Inventory, valued at the lower of cost or market value, of any Borrowing Base Obligor which meets each of the following requirements on the date that such Inventory is included in the applicable Borrowing Base Certificate: 

(a) it (i) is subject to a first priority perfected Lien in favor of the Collateral Agent and (ii) is not subject to
any other Liens; 
 (b) it is in saleable condition; 

(c) it (i) is stored and held in locations owned by a Borrowing Base Obligor or, if such locations are not so owned, the
Collateral Agent is, beginning on June 30, 2015 (or such later date as agreed to by the Collateral Agent) and at any time thereafter, in possession of a Collateral Access Agreement or other similar waiver or acknowledgment agreements (but only
to the extent such location has over $1,000,000 worth of Inventory or is the premises holding Inventory located at 1 Chestnut Street, Suite 222, Nashua, New Hampshire 03060 or at 1227 Striker Avenue, Suite 260, Sacramento, California 95834, pursuant
to which the applicable lessor, warehouseman, processor or bailee provides satisfactory lien waivers and access rights to the Inventory and (ii) has not been identified or otherwise set aside for use by a Project in the Project Back-Log; 

(d) it is not Inventory produced in violation of the Fair Labor Standards Act and subject to the “hot goods”
provisions contained in Title 29 U.S.C. §215; 
 (e) it is located in the United States or in any territory or
possession of the United States that has adopted Article 9 of the UCC; 
 (e)(i) it is not “in transit” to any
Borrowing Base Obligor and (ii) it is not held by any Borrowing Base Obligor on consignment; 
 (f) it is not subject to
any agreement which would restrict the Collateral Agent’s ability to sell or otherwise dispose of such Inventory; 
 (h)
it is not work-in-progress Inventory, unfinished goods, sample Inventory or spare Inventory; 
 (i) it is not Inventory that
has been aged twelve (12) months or longer; 
 (j) it is not stored or held in a location for which the value of all
Inventory of the Borrowing Base Obligors stored or held at such location is less than $100,000 in the aggregate; and 
 (k)
the Collateral Agent shall not have determined in its reasonable discretion following a field inspection to be unacceptable due to age, type and/or quality. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 15 

 Inventory which is at any time Eligible Inventory but which subsequently fails to meet any of the foregoing
requirements shall forthwith cease to be Eligible Inventory. 
 “Eligible Project Back-Log” means the Project Back-Log
except for the following, which shall be deemed ineligible: 
 (a) An incremental % of Projects for which the period of time
during which the applicable customer can terminate the Host Customer Agreement has not yet expired, which incremental % shall be equal to the % which, when combined with the cancelled Projects previously excluded from the Project Backlog, would
result in an overall cancellation rate of [***] of the total value of Projects that have achieved Sunrun Sign-Off over the prior twelve (12) months; 

(b) Projects which are purchased in cash by a customer (to the extent included in Project Back-Log); 

(c) Projects which are subject to any Lien other than (i) Liens in favor of the Collateral Agent and (ii) Liens
thereon permitted under Section 7.01; 
 (d) Projects in which any Person other than a Loan Party shall have any
ownership interest or any other interest or title, other than (i) any such interest or title of any customer pursuant to the Host Customer Agreement related thereto and (ii) Liens thereon permitted under Section 7.01; 

(e) Projects that are not Tax Credit Eligible Projects; 

(f) Projects the PV Systems related to which use solar photovoltaic panels or inverters that were obtained from, or are a
product of, a manufacturer that has not been approved by any Tax Equity Investor or provider of Backlever Financing; 
 (g)
Projects located in a state or locality that has not been approved by any Tax Equity Investor or provider of Backlever Financing; 

(h) Projects for which any manufacturer’s warranty related to the photovoltaic panels and inverters related thereto is not
in full force or effect or cannot be enforced by a Loan Party; 
 (i) Inactive Projects; 

(j) to the extent applicable, Projects specifically identified to be Tranched in order to cure the True-Up Liability; and 

(k) a Project which has been identified for Tranching using Available Take-Out which is not Eligible Take-Out. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 16 

 “Eligible Take-Out” means the Available Take-Out except for the following, which
shall be deemed ineligible: 
 (a) Available Take-Out provided by any Person (i) that has provided written notice that
it disputes its obligation to fund such Available Take-Out, (ii) that generally made statements that it is unable to satisfy its funding obligations, or (iii) for which any Person may have any valid and asserted claim, demand, or liability
whether by action, suit, counterclaim or otherwise against such Available Take-Out; 
 (b) the Person providing such
Available Take-Out is the subject of any action or proceeding of a type described in Section 8.01(f); 
 (c) Available
Take-Out provided by a Person who has the right of offset with respect to any amounts owed to such Person by any Borrower or its Subsidiaries; provided, that ineligibility shall be limited to the amount of such set-off; and 

(d) Any Available Take-Out with respect to which a Loan Party or any Subsidiary has given or received formal written notice
that a default or event of default has occurred and is continuing under the documents governing the applicable Tax Equity Commitments or Backlever Financing, or has knowledge of the occurrence and continuation of such default or event of default but
has not given such formal written notice; provided that this clause (d) shall not apply to the extent that (x) any default that has not become an event of default thereunder has been cured within the applicable cure period
thereunder and (y) no Material Adverse Effect has resulted from such default; and provided, further, that this clause (d) shall be operative solely to the extent that the Tax Equity Investor or the provider of Backlever
Financing would, as a result of the continuation of such default or event of default, have the right to cease funding (unless such right to cease funding has been waived). 

“Eligible Trade Accounts” shall mean an Account as to which the following is true and accurate as of the date that such
Account is included in the applicable Borrowing Base Certificate: 
 (a) such Account arose in the ordinary course of the
business of a Borrowing Base Obligor out of either (i) a bona fide sale of Inventory by such Borrowing Base Obligor, and in such case such Inventory has in fact been shipped to the applicable Account Debtor or the Inventory has otherwise been
accepted by the applicable Account Debtor, or (ii) services performed by such Borrowing Base Obligor under an enforceable contract (written or oral), and in such case such services have in fact been performed for the applicable Account Debtor
and accepted by such Account Debtor; 
 (b) such Account represents a legally valid and enforceable claim which is due and
owing to a Borrowing Base Obligor by the applicable Account Debtor and for such amount as is represented by the Borrowers to the Collateral Agent in the applicable Borrowing Base Certificate; 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 17 

 (c) such Account is evidenced by an invoice dated not later than three
(3) Business Days after the date of the delivery or shipment of the related Inventory giving rise to such Account, not more than sixty (60) days have passed since the due date corresponding to such Account and not more than one hundred
twenty (120) days have passed since the invoice date corresponding to such Account; 
 (d) the unpaid balance of such
Account (or portion thereof) that is included in the applicable Borrowing Base Certificate is not subject to any defense or counterclaim that has been asserted by the applicable Account Debtor, or any setoff, contra account, credit, allowance or
adjustment by the Account Debtor because of returned, inferior or damaged Inventory or services, or for any other reason, except for customary discounts allowed by the applicable Borrowing Base Obligor in the ordinary course of business for prompt
payment, and, to the extent there is any agreement between the applicable Borrowing Base Obligor, the related Account Debtor and any other Person, for any rebate, discount, concession or release of liability in respect of such Account, in whole or
in part, the amount of such rebate, discount, concession or release of liability shall be excluded from the Borrowing Base; 

(e) the applicable Borrowing Base Obligor has granted to the Collateral Agent pursuant to or in accordance with the Collateral
Documents (except to the extent not required to do so thereunder) a first priority perfected security interest in such Account prior in right to all other Persons and such Account has not been sold, transferred or otherwise assigned or encumbered by
such Borrowing Base Obligor, as applicable, to or in favor of any Person other than pursuant to or in accordance with the Collateral Documents or this Agreement; 

(f) such Account is not owing by any Account Debtor who, as of the date of determination, has failed to pay twenty-five percent
(25%) or more of the aggregate amount of its Accounts owing to any Borrowing Base Obligor within sixty (60) days since the due date corresponding to such Accounts and within one hundred twenty (120) days since the original invoice
date corresponding to such Accounts; 
 (g) it is not an Account owing by any Account Debtor which when aggregated with all
other Accounts owing by such Account Debtor would cause the Borrowing Base Obligors’ Accounts owing from such Account Debtor to exceed an amount equal to twenty five percent (25%) of the Borrowing Base Obligors’ aggregate Eligible
Trade Accounts owing from all Account Debtors (the “Concentration Limit”); provided that to the extent that the aggregate outstanding amount of otherwise eligible Accounts due from any Account Debtor exceeds the Concentration
Limit, only the amount of such excess shall be ineligible; 
 (h) such Account is not represented by any note, trade
acceptance, draft or other negotiable instrument or by any chattel paper, except to the extent any such note, trade acceptance, draft, other negotiable instrument or chattel paper has been endorsed and delivered by any Borrowing Base Obligor
pursuant to or in accordance with the Collateral Documents or this Agreement and/or otherwise in a manner satisfactory to the Collateral Agent on or prior to such Account’s inclusion in any applicable Borrowing Base Certificate; 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 18 

 (i) the Borrowing Base Obligors have not received, with respect to such Account,
any notice of the dissolution, liquidation, termination of existence, insolvency, business failure, appointment of a receiver for any part of the property of, assignment for the benefit of creditors by, or the filing of a petition in bankruptcy or
the commencement of any proceeding under any bankruptcy or insolvency laws by or against, such Account Debtor; 
 (j) it is
not an account billed in advance, payable on delivery, for consigned goods, for guaranteed sales, for unbilled sales, payable at a future date, bonded or insured by a surety company or subject to a retainage or holdback by the Account Debtor; 

(k) the Account Debtor on such Account is not: 
  

	 	(i)	an Affiliate of any Loan Party; 

  

	 	(ii)	the United States of America, or any department, agency, or instrumentality thereof (unless the applicable Borrowing Base Obligor has assigned its right to payment of such Account to the Agent in a manner satisfactory
to the Agent so as to comply with the provisions of the Federal Assignment of Claims Act); 

  

	 	(iii)	a citizen or resident of any jurisdiction other than one of the United States or Canada, unless such Account is secured by a letter of credit issued by a bank acceptable to the Agent which letter of credit shall be in
form and substance acceptable to the Collateral Agent; or 

  

	 	(iv)	an Account Debtor whose Accounts the Collateral Agent, acting in its reasonable credit judgment, has deemed not to constitute Eligible Trade Accounts because the collectability of such Accounts is or is reasonably
expected to be impaired; 

 (l) such Account is not an Account in respect of which Credit Extensions are
available under any other component of the Borrowing Base. 
 Any Account, which is at any time an Eligible Trade Account but which
subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be an Eligible Trade Account. 

“Environmental Laws” means any and all Laws (including common laws) pertaining to protected animal and plant species,
navigation, human health, safety or the environment, or to the presence, treatment, transport, storage, use, management, disposal or Release of any Hazardous Materials or to property damage or personal injury as a result of Hazardous Materials,
including, without limitation, the Clean Air Act, as amended, CERCLA, the Federal Water Pollution Control Act, as amended, the Resource Conservation and Recovery Act of 1976, as amended (“RCRA”), the Safe Drinking Water Act, as
amended, the Toxic Substances Control Act, as amended, the Superfund Amendments and Reauthorization Act of 1986, as amended, Section 10 of the Rivers and Harbors Act of 1899, as amended, the Endangered Species Act, as amended, 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 19 

 
the Migratory Bird Treaty Act, as amended, and any other federal, state, regional or local environmental conservation, environmental protection, health or safety Laws as each may from time to
time be amended or supplemented. 
 “Environmental Liability” means any costs, losses or liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of any Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, or treatment of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any
Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which costs or liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Permit” means any permit, approval, consent, identification number, license, exemption, authorization or other
form of permission required to be issued or obtained under any Environmental Law. 
 “Equity Consideration” means, with
respect to any Acquisition, as at the date of consummation of such Acquisition, the ratio, stated as a percentage, of (i) the Equity Interests of any Borrower or any Subsidiary thereof to be transferred in connection with such Acquisition, to
(ii) the total Equity Interests of such Borrower, plus the Equity Interests of such Borrower or any Subsidiary thereof to be transferred in connection with such Acquisition. For purposes of determining the Equity Consideration for any
transaction, the Equity Interests of a Borrower shall be valued in accordance with GAAP. 
 “Equity Interests” means, with
respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or
acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such
shares, warrants, options, rights or other interests are outstanding. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended. 
 “ERISA Affiliate” means any Person, trade or business (whether or not
incorporated) under common control with any Borrower within the meaning of Section 414(b), (c), (m) or (o) of the Code or Section 4001(b) of ERISA. 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of any Borrower or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated
as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by any Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 20 

 
reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the
institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan;
(g) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or
(h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Borrower or any ERISA Affiliate. 

“Eurodollar Rate” means: 

(a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank Offered
Rate (“LIBOR”), or a comparable or successor rate which rate is approved by the Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may
be designated by the Administrative Agent from time to time) (in such case, the “LIBOR Rate”) at or about 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period, for Dollar
deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and 
 (b)
for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the LIBOR Rate, at or about 11:00 a.m., London time, two (2) Business Days prior to such date for Dollar deposits with a term of one
(1) month commencing that day; 
 in each case, times the Statutory Reserves; provided that, to the extent a comparable or
successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further, that to the extent such market practice is not
administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent; and provided, further, that the Eurodollar Rate shall at no time be
less than 0.00%. 
 “Eurodollar Rate Loan” means a Revolving Loan that bears interest at a rate based on clause (a) of
the definition of “Eurodollar Rate.” 
 “Event of Default” has the meaning specified in Section 8.01. 

“Exchange Act” means the Securities Exchange Act of 1934, including all amendments thereto and regulations promulgated
thereunder. 
 “Excluded Property” means, with respect to any Loan Party, (a) any owned or leased real property which
is located outside of the United States, (b) any Intellectual Property, (c) the Equity Interests of or in any Excluded Subsidiary and (d) any SREC. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 21 

 “Excluded Subsidiaries” means (i) those direct or indirect subsidiaries of
Sunrun (a) in which Sunrun owns Equity Interests of less than fifty-one percent (51%), (b) that own, lease or finance (or any Subsidiary that is formed for such purpose) no assets other than specific Projects and related assets that are
financed as a pool in a manner that is non-recourse to any of the Loan Parties (other than with respect to Guarantees of certain limited obligations of the Excluded Subsidiaries to which such Excluded Subsidiaries are party and which are not in
respect of Indebtedness for borrowed money), (c) whose sole assets consist of Equity Interests in Excluded Subsidiaries of the type described in the foregoing clause (b), or (d) created for or encumbered by transactions involving the
sale of SREC’s, in each case, where either (A) committed financing or equity contribution proceeds are included in the calculation of Available Take-Out or (B) Tax Equity Commitments have been fully deployed and which Tax Equity
Commitments are no longer included in the calculation of Available Take-Out, or (ii) any existing or future acquired or formed Immaterial Subsidiary. 

“Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a
portion of the Loan Party Guarantee of such Guarantor of, or the grant by such Guarantor of a Lien to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act (or the application or official
interpretation thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act (determined after giving effect to Section 10.11 and any other
keepwell, support or other agreement for the benefit of such Guarantor and any and all guarantees of such Guarantor’s Swap Obligations by other Loan Parties) at the time the Loan Party Guarantee of such Guarantor, or grant by such Guarantor of
a Lien, becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a Master Agreement governing more than one Swap Contract, such exclusion shall apply only to the portion of such Swap Obligation that is attributable
to Swap Contracts for which such Loan Party Guarantee or Lien is or becomes excluded in accordance with the first sentence of this definition. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes; (b) in the case of a
Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires
such interest in the Loan or Commitment (other than pursuant to an assignment request by any Borrower under Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to
Sections 3.01(a)(ii), or 3.01(a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its
Lending Office; (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e); and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 22 

 “Existing Credit Agreement” means that certain Amended and Restated Credit
Agreement, dated as of December 31, 2014, by and among the Borrowers, Comerica Bank, as administrative agent, sole lead arranger and sole book runner, Silicon Valley Bank, as documentation agent, and various lenders party thereto, as further
amended, restated or otherwise modified from time to time. 
 “Existing Letters of Credit” means each letter of credit set
forth on Schedule 1.01(d) that was previously issued for the account of any Borrower by Comerica Bank under the Existing Credit Agreement that is outstanding on the Closing Date. 

“Facility” means, at any time, the aggregate amount of the Lenders’ Commitments at such time. 

“Facility Termination Date” means the date as of which all of the following shall have occurred: (a) the Aggregate
Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other
arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made). 
 “FASB
ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 
 “FATCA” means
Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or
official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code. 
 “FCPA”
means Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations promulgated thereunder. 
 “Federal
Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by
the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding
Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a
whole multiple of 1/100 of 1%) charged to the Administrative Agent on such day on such transactions as determined by the Administrative Agent. 

“Fee Letter” means the Commitment Letter, dated February 19, 2015, by and among Sunrun, the Administrative Agent and the
Arranger. 
 “FERC” means the Federal Energy Regulatory Commission and its successors. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 23 

 “Flood Hazard Property” means any Mortgaged Property that is in an area
designated by the Federal Emergency Management Agency as having special flood or mudslide hazards. 
 “Foreign Lender”
means (a) if any Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if any Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which
such Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“FPA” means the Federal Power Act, as amended, and FERC’s regulations promulgated thereunder. 

“FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Fronting Exposure” means, at any time there is a Defaulting Lender that is a Lender, with respect to the L/C Issuer, such
Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in
accordance with the terms hereof. 
 “Fund” means any Person (other than a natural Person) that is (or will be) engaged in
making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“Funding Indemnity Letter” means a funding indemnity letter, substantially in the form of Exhibit L. 

“GAAP” means generally accepted accounting principles in the United States set forth from time to time in the opinions and
pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions of comparable stature and
authority within the accounting profession) including, without limitation, the FASB ASC, that are applicable to the circumstances as of the date of determination, consistently applied and subject to Section 1.03. 

“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining
to government (including any supra-national bodies such as the European Union or the European Central Bank), including FERC and any designated regional reliability entity, a state public utilities commission or state public service commission or
similar agency, or a designated regional transmission organization, independent system operator or balancing authority. 

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having
the economic effect of guaranteeing any Indebtedness of the kind described in clauses (a) through (g) of the definition thereof or other obligation payable or 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 24 

 
performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such
Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow
of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the
payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness of the kind described in clauses (a) through
(g) of the definition thereof or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed or expressly undertaken by such Person (or any right, contingent or otherwise, of any holder of such
Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if
not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guaranteed Obligations” has the meaning set forth in Section 10.01. 

“Guarantors” means, collectively, (a) all existing or future acquired or formed Subsidiaries of Sunrun (other than
Excluded Subsidiaries) as are or may from time to time become parties to this Agreement pursuant to Section 6.13, and (b) with respect to Additional Secured Obligations owing by any Loan Party (other than the Borrowers) and any Swap
Obligation of a Specified Loan Party (determined before giving effect to Sections 10.01 and 10.11) under the Loan Party Guarantee, the Borrowers. 

“Hawaii Income Taxes” shall mean (a) any income (or similar) tax, that is, has been or may in the future be imposed,
assessed or collected by or under the authority of the State of Hawaii (or a political subdivision thereof), and (b) each liability for the payment of any amounts of the type described in clause (a) as a result of any express or implied
obligation to pay directly, indemnify or otherwise assume or succeed to the liability of any other Person. 
 “Hawaii Tax
Credit” shall mean tax credits available to the Borrowers under Hawaii Rev Stat. § 235-12.5 (Renewable energy technologies; income tax credit). 

“Hazardous Materials” means any hazardous substances, pollutants, contaminants, wastes, or materials (including petroleum
(including crude oil or any fraction thereof), petroleum wastes, radioactive material, hazardous wastes, toxic substances, or asbestos or any materials containing asbestos) designated, regulated, or defined under or with respect to which any
requirement or liability may be imposed pursuant to any Environmental Law. 
  
 [***]
Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 25 

 “Hedge Bank” means any Person in its capacity as a party to a Swap Contract
that, (a) at the time it enters into a Swap Contract not prohibited under Article VI or VII, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes a Lender, is a party to a Swap Contract not
prohibited under Article VI or VII, in each case, in its capacity as a party to such Swap Contract (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided, in the case of a Secured
Hedge Agreement with a Person who is no longer a Lender (or Affiliate of a Lender), such Person shall be considered a Hedge Bank only through the stated termination date (without extension or renewal) of such Secured Hedge Agreement; and
provided, further, that for any of the foregoing to be included as a “Secured Hedge Agreement” on any date of determination by the Administrative Agent, the applicable Hedge Bank (other than the Administrative Agent or an
Affiliate of the Administrative Agent) must have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date of determination. 

“Honor Date” has the meaning set forth in Section 2.03(c). 

“Host Customer Agreements” means the Power Purchase Agreements and Customer Lease Agreements. 

“Immaterial Subsidiary” means each Subsidiary of Sunrun which at no time after the Closing Date holds more than $2,500,000 of
assets in accordance with GAAP for a trailing twelve (12) month period; provided, that at no time shall the aggregate assets held by all such Subsidiaries exceed $10,000,000 in accordance with GAAP for a trailing twelve (12) month
period. 
 “Inactive Project” means any Project that (a) remains a CAD Project for more than 180 days after such
Project was first included in the Eligible Project Back-Log as a CAD Project or (b) remains a Permitted Project for more than 180 days after such Project was first included in the Eligible Project Back-Log as a Permitted Project. 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not
included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for borrowed money and
all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 
 (b)
the maximum amount of all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 

(c) net obligations of such Person under any Swap Contract; 

(d) all obligations (including, without limitation, earnout obligations) of such Person to pay the deferred purchase price of
property or services (other than trade accounts payable in the ordinary course of business and remain unpaid for more than one-hundred twenty (120) days after the date on which such trade account was created); 

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person
(including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 26 

 (f) all Attributable Indebtedness in respect of Capitalized Leases and Synthetic
Lease Obligations of such Person and all Synthetic Debt of such Person; 
 (g) all obligations of such Person to purchase,
redeem, retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at
the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and 
 (h) all
Guarantees of such Person in respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the
Indebtedness of any partnership in which such Person is a general partner, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap
Termination Value thereof as of such date. 
 “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed
on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Indemnitees” has the meaning specified in Section 11.04(b). 

“Information” has the meaning specified in Section 11.07. 

“Intellectual Property” has the meaning set forth in the Security Agreement. 

“Intercompany Debt” has the meaning specified in Section 7.02. 

“Interest Charges” means, for any period of measurement, the sum of (a) all interest, premium payments, debt discount,
fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, (b) all
interest paid or payable with respect to discontinued operations, and (c) the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP which is to be paid in cash, in each case, of or by any Borrower
for such period of measurement. 
 “Interest Coverage Ratio” means, as of any date of determination, with respect to the
Borrowers, the ratio of (a) to (b), where: 
 (a) is the sum of, for the prior trailing twelve month period then ended
(i) Operating income (measured in accordance with GAAP) plus depreciation and amortization included in COGS, plus (ii) [***] percent of general and administrative costs (G&A, as measured in accordance with GAAP), plus (iii) [***]
percent of sales and marketing costs (S&M as measured in accordance with GAAP), plus (iv) [***] percent of research and development costs (R&D as measured in accordance with GAAP); and 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 27 

 (b) is, for the prior trailing twelve month period then ended, the aggregate cash
Interest Charges of the Borrowers and their Subsidiaries, other than Excluded Subsidiaries (which Interest Charges shall not be determined on a consolidated basis). 

“Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of each Interest Period applicable to
such Loan and the Maturity Date of the Facility under which such Loan was made; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three (3) months, the respective dates that fall every three
(3) months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date of the Facility under
which such Loan was made. 
 “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the date
such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one (1), two (2), three (3) or six (6) months thereafter, as selected by the Borrowers in its Loan Notice, or such other
period that is twelve (12) months or less requested by the Borrowers and consented to by all the Appropriate Lenders; provided that: 

(a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding
Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c) no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made. 

“Inventory” shall mean any inventory as defined under the UCC. 

“Inverted Lease Structure” means a tax equity investment structure in which the Borrowers contribute PV Systems and assign
the affiliated Host Customer Agreements to an Excluded Subsidiary, which Excluded Subsidiary then leases such PV Systems to a Tax Equity Investor or a partnership between an Excluded Subsidiary and a Tax Equity Investor pursuant to a lease
agreement. 
 “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person,
whether by means of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other
Indebtedness or interest in, another Person (including any partnership or joint venture equity interest in such other Person and any arrangement pursuant to which the investor guaranties Indebtedness of such other Person), or (c) the purchase
or other acquisition (in one transaction or a series of transactions) of assets of another Person which constitute all or substantially all of the assets of such Person or of a division, line of business or other business unit of such Person. For
purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 28 

 “Investment Company Act” means the Investment Company Act of 1940, as
amended. 
 “IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document,
agreement and instrument entered into by the L/C Issuer and any Borrower (or any Subsidiary thereof) or in favor of the L/C Issuer and relating to such Letter of Credit. 

“ITC” means any investment tax credit under Title 26, Section 48 of the United States Code or any successor or
other similar provision, including any similar provision concerning a refundable tax credit that replaces such investment tax credit program. 

“Joinder Agreement” means a joinder agreement substantially in the form of Exhibit D executed and delivered in
accordance with the provisions of Sections 6.13 and 6.14. 
 “Laws” means, collectively, all international,
foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, and binding guidance, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, and agreements with any Governmental Authority. 

“L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in
accordance with its Applicable Revolving Percentage. 
 “L/C Borrowing” means an extension of credit resulting from a
drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Borrowing. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date
thereof, or the increase of the amount thereof. 
 “L/C Issuer” means, as the context may require, (a) Silicon Valley
Bank, acting through any of its Affiliates or branches, in its capacity as the issuer of Letters of Credit hereunder, (b) Comerica Bank, acting through any of its Affiliates or branches, in its capacity as the issuer of Letters of Credit
hereunder and as the issuer of each Existing Letter of Credit, and (c) any other Lender that may become an L/C Issuer pursuant to Section 2.03(k) or 11.06(f), with respect to Letters of Credit issued by such Lender. Each L/C Issuer may, in
its discretion, arrange for one or more Letters of Credit to be issued by Affiliates or branches of such L/C Issuer, in which case the term “L/C Issuer” shall include any such Affiliate or branch with respect to Letters of Credit issued by
such Affiliate or branch. 
  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 29 

 “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such
Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the
operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” means each of the Persons identified as a “Lender” on the signature pages hereto, each other Person that
becomes a “Lender” in accordance with this Agreement and their successors and assigns. 
 “Lending Office” means,
as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrowers and the Administrative Agent. 

“Letter of Credit” means any letter of credit issued hereunder (including any Existing Letter of Credit). A Letter of Credit
may be a commercial letter of credit or a standby letter of credit. 
 “Letter of Credit Application” means an application
and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “Letter
of Credit Expiration Date” means the day that is five (5) Business Days prior to the Maturity Date then in effect for the Facility (or, if such day is not a Business Day, the next preceding Business Day). 

“Letter of Credit Fee” has the meaning specified in Section 2.03(h). 

“Letter of Credit Sublimit” means an amount equal to the lesser of (a) $25,000,000 and (b) the Facility. The Letter
of Credit Sublimit is part of, and not in addition to, the Facility. 
 “LH Merger Sub 2” means LH Merger Sub 2, LLC, a
California limited liability company and wholly owned Subsidiary of Sunrun, into which CEE has merged as of the Closing Date and which shall change its name to Clean Energy Experts LLC following the Closing Date. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or
otherwise), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any
easement, right of way or other encumbrance on title to real property and any financing lease having substantially the same economic effect as any of the foregoing). 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 30 

 “Loan” means an extension of credit by a Lender to any Borrower under
Article II in the form of a Revolving Loan. 
 “Loan Documents” means, collectively, (a) this Agreement,
(b) the Revolving Notes, (c) the Loan Party Guarantee, (d) the Collateral Documents, (e) the Fee Letter, (f) each Issuer Document, (g) each Joinder Agreement and (h) any agreement creating or perfecting rights in
Cash Collateral pursuant to the provisions of Section 2.13 (but specifically excluding any Secured Hedge Agreement or any Secured Cash Management Agreement). 

“Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or
(c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit E. 

“Loan Parties” means, collectively, the Borrowers and each Guarantor. 

“Loan Party Guarantee” means, collectively, the Guarantee made by the Guarantors under Article X in favor of the Secured
Parties, together with each other guaranty delivered pursuant to Section 6.13. 
 “London Banking Day” means any day
on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market. 
 “Master
Agreement” has the meaning set forth in the definition of “Swap Contract.” 
 “Material Adverse Effect”
means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties, liabilities (actual or contingent), financial condition of the Loan Parties taken as a whole; (b) a material impairment of the
rights and remedies of the Administrative Agent or any Lender under any Loan Document, or of the ability of any Loan Party to perform its obligations under any Loan Document to which it is a party; (c) a material adverse effect upon the
legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party; or (d) a material adverse effect on the Collateral or the Liens in favor of the Collateral Agent (for its benefit and for
the benefit of the other Secured Parties) on the Collateral or the priority of such Liens, in each case of this clause (d), when taken as a whole. 

“Material Contract” means, with respect to any Loan Party, each contract or agreement to which such Person would be required
to disclose pursuant to reporting obligations under the Exchange Act if such person were subject to the Exchange Act, even if such Person is not currently subject to the Exchange Act. 

“Maturity Date” means the date that is three (3) years after the Closing Date; provided, however, if such
date is not a Business Day, the Maturity Date shall be the next proceeding Business Day. 
 “Milestone One” means, with
respect to any Project, the day on which each of the following has occurred (in each case as certified by the Borrowers in a Borrowing Base Certificate): (a) the occurrence of Sunrun Sign-Off, (b) delivery to the construction contractor
for such Project of a duly executed notice to proceed, and (c) if applicable, assignment to a 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 31 

 
construction site or tagged to a specific Project in a warehouse of building materials necessary to construct the Project, including evidence (to the extent available) of the same if requested by
the Collateral Agent. 
 “Milestone Three” means, with respect to any Project, the day on which the “permission to
operate” notification for such Project is executed (as certified by the Borrowers in a Borrowing Base Certificate). 

“Milestone Two” means, with respect to any Project, the day on which the following has occurred (as certified by the
Borrowers in a Borrowing Base Certificate): the Project has reached Substantial Completion. 
 “Minimum Collateral Amount”
means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during any period when a Lender constitutes a Defaulting Lender, an amount equal to 105% of
the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time, (b) with respect to Cash Collateral consisting of cash or deposit account balances provided in accordance with the provisions of
Section 2.13(a)(i), (a)(ii), (a)(iii) or (a)(iv), an amount equal to 105% of the Outstanding Amount of all L/C Obligations, and (c) otherwise, an amount determined by the Collateral Agent and the L/C Issuer in their sole discretion. 

“Minimum Credit Rating Requirement” means the state general bond obligation rating of at least AA from Standard and
Poor’s Rating Group, Aa2 from Moody’s, and AA from Fitch Ratings, or such other general bond obligation rating satisfactory to the Administrative Agent in its sole discretion. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Mortgage” or “Mortgages” means, individually and collectively, as the context requires, each of the fee or
leasehold mortgages, deeds of trust and deeds executed by a Loan Party that purport to grant a Lien to the Collateral Agent (or a trustee for the benefit of the Collateral Agent) for the benefit of the Secured Parties in any Mortgaged Properties, in
form and substance satisfactory to the Collateral Agent. 
 “Mortgaged Property” means any owned property of a Loan Party
listed on Schedule 5.21(g)(i) and any other owned real property of a Loan Party that is or will become encumbered by a Mortgage in favor of the Collateral Agent in accordance with the terms of this Agreement. 

“Mortgaged Property Support Documents” means with respect to any real property subject to a Mortgage, the deliveries and
documents described on Schedule 1.01(e) attached hereto. 
 “Multiemployer Plan” means any employee benefit
plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been obligated to make
contributions. 
  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 32 

 “Multiple Employer Plan” means a Plan which has two or more contributing
sponsors (including any Borrower or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 

“Net Retained Value” means, as of a given date of determination, the present value, discounted at six percent (6%), of all
remaining customer cash flows under a Host Customer Agreement, reduced by: 
 (a) For Tax Equity Partnerships subject to HLBV
accounting (i.e., Partnership Flip Structures and complex Inverted Lease Structures), estimated future cash distributions to the Tax Equity Investor; 

(b) Estimated operating expenses; 

(c) Estimated major maintenance expenses; 

(d) For simple Inverted Lease Structures, the GAAP financing liability recorded on the most recent (i) Audited Financial
Statements or (ii) quarterly unaudited financial statements of Sunrun (reduced by investor cash on deposit in the Tax Equity Partnership, if any, and ITCs from assets funded but not in service); and 

(e) The GAAP carrying value of all non-recourse or unsecured Indebtedness recorded on the most recent (i) Audited
Financial Statements or (ii) quarterly unaudited financial statements of Sunrun; provided, that any additional Indebtedness shall be calculated on a Pro Forma Basis. 

Net Retained Value will only be comprised of Projects that are deployed to Tax Equity Partnerships. No value will be ascribed to either
customer renewal value or Projects in the Project Back-Log. 
 Customer cash flows under Host Customer Agreements shall include the sum of
the remaining contracted cash payments that customers are expected to pay over the initially contracted term of such Host Customer Agreements for systems installed or placed into a Project Fund as of the measurement date. This amount shall include
Customer Prepayments contractually owing to the Borrowers, an Excluded Subsidiary or a Project Fund but uncollected. Operating expenses and major maintenance expenses shall be estimated consistent with the most recent engineering report issued and
relied upon in connection with a non-recourse debt financing of Sunrun. 
 “New Lenders” has the meaning specified in
Section 2.15(c). 
 “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment
that (a) requires the approval of all Lenders or all affected Lenders in accordance with the terms of Section 11.01 and (b) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 33 

 “NPL” means the National Priorities List under CERCLA. 

“Obligations” means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party
arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of
counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or
against any Loan Party or any Affiliate thereof pursuant to any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding;
provided that Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“Organization 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
or limited liability company agreement (or equivalent or comparable documents with respect to any non-U.S. jurisdiction); (c) with respect to any partnership, trust or other form of business entity, the partnership or other applicable
agreement of formation or organization (or equivalent or comparable documents with respect to any non-U.S. jurisdiction) and (d) with respect to all entities, 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 (or equivalent or comparable documents with respect to any non-U.S. jurisdiction). 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising solely from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06). 

“Outstanding Amount” means (a) with respect to Revolving Loans on any date, the aggregate outstanding principal amount
thereof after giving effect to any borrowings and prepayments or repayments of Revolving Loans occurring on such date; and (b) with respect to 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 34 

 
any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate
amount of the L/C Obligations as of such date, including as a result of any reimbursements by any Borrower of Unreimbursed Amounts. 

“Participant” has the meaning specified in Section 11.06(d). 

“Participant Register” has the meaning specified in Section 11.06(d). 

“Partnership Flip Structure” means a tax equity investment structure in which the Tax Equity Partnership or a subsidiary of
such Tax Equity Partnership purchases PV Systems and takes assignment of Host Customer Agreements from any Borrower or any of its Subsidiaries pursuant to a purchase agreement. In a Partnership Flip Structure, the membership interests in the Tax
Equity Partnership changes (or “flips”) in respect to the members of such Tax Equity Partnership upon fulfillment of specified conditions in the Organization Documents of such Tax Equity Partnership, but in no event earlier than five years
from the date of the purchase of the PV Systems and assignment of the Host Customer Agreements. 
 “PATRIOT Act” has the
meaning specified in Section 5.28. 
 “PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006, as amended. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is
maintained or is contributed to by any Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 

“Permit” means any action, approval, consent, certificate, notice, filing, registration, waiver, exemption, variance,
franchise, order, permit, authorization, right or license with, by, of or from a Governmental Authority. 
 “Permitted
Acquisition” means (i) an Acquisition with a Cost of Acquisition of less than $5,000,000 by a Loan Party of a Target that meets the conditions set forth in clauses (a), (c) and (f) below, (iii) an Acquisition with a
Cost of Acquisition of less than $15,000,000 but greater than or equal to $5,000,000, by a Loan Party of a Target that meets the conditions set forth in clauses (a), (c), (d)(i), (d)(iv), (e) and (f) below, or (iii) an
Acquisition with a Cost of Acquisition in excess of $15,000,000 by a Loan Party of a Target that meets all of the following conditions: 

(a) no Default or Event of Default shall then exist or would exist after giving effect thereto; 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 35 

 (b) the Loan Parties shall demonstrate to the reasonable satisfaction of the
Administrative Agent that, after giving effect to the Acquisition on a Pro Forma Basis, the Loan Parties are in compliance with (x) each of the financial covenants set forth in Section 7.11 and (y) the most recently delivered
Borrowing Base Certificate; 
 (c) the Collateral Agent, on behalf of the Secured Parties, shall have received (or shall
receive in connection with the closing of such Acquisition) a first priority perfected security interest in all property (including, without limitation, Equity Interests) acquired with respect to the Target in accordance with the terms of
Section 6.14 and the Target, if a Person, shall have executed a Joinder Agreement in accordance with the terms of Section 6.13, unless, in either case, such Target becomes an Excluded Subsidiary immediate after such Acquisition; 

(d) the Administrative Agent and the Lenders shall have received (i) a description of the material terms of such
Acquisition, (ii) audited financial statements (or, if unavailable, management-prepared financial statements) of the Target for its two most recent fiscal years, (iii) unaudited financial statements of the Target for any fiscal quarters
ended within the fiscal year to date, to extent available and (iv) not less than five (5) Business Days prior to the consummation of any Permitted Acquisition, a certificate substantially in the form of Exhibit F, executed by a
Responsible Officer of the Borrowers certifying that such Permitted Acquisition complies with the requirements of this Agreement (other than with respect to the Acquisition of CEE, for which the Borrowers shall provide such relevant information to
the Administrative Agent and the Lenders prior to the Closing Date); 
 (e) such Acquisition shall not be a
“hostile” Acquisition and shall have been duly authorized by the board of directors (or equivalent) and/or shareholders (or equivalent) of the applicable Loan Party and the Target, in each case where such authorization is required; and

 (f) with respect to the Cost of Acquisition paid by the Loan Parties and their Subsidiaries for all Acquisitions made
after the Closing Date and during the term of this Agreement, on a fully diluted basis with respect to all such Acquisitions, the aggregate Cost of Acquisition (excluding Equity Consideration) shall not exceed [***]. 

“Permitted Dispositions” means (a) Dispositions of Inventory, equipment and Host Customer Agreements (including
residential Customer Lease Agreements and solar services agreements), including Tranching of Inventory, equipment and Host Customer Agreements (including any warranties arising in connection therewith) (i) to an Excluded Subsidiary pursuant to
an Inverted Lease Structure, Sale-Leaseback Structure or Partnership Flip Structure on an arm’s length basis or (ii) to the Borrowers’ customers or other third parties pursuant to a cash sale for fair market value or on an arm’s
length basis, or sale of Projects pursuant to a customer’s purchase right under its applicable Host Customer Agreement; (b) Dispositions of property to any Borrower or any Subsidiary thereof; provided, that if the transferor of such
property is a Loan Party then the transferee thereof must be a Loan Party; (c) Dispositions of accounts receivable in connection with the collection or compromise thereof; (d) licenses, sublicenses, leases or subleases granted to others
not interfering in any material respect with the business of the Borrowers and their Subsidiaries; (e) Dispositions of Cash Equivalents for fair market value; (f) Dispositions of Equity Interests in accordance with the terms herein; and
(g) Dispositions of SREC’s. 
  
 [***] Confidential treatment has been
requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 36 

 “Permitted Liens” has the meaning specified in Section 7.01. 

“Permitted Project” means, at any time, any Project (i) the PV System related to which has not been installed as of such
time, (ii) with respect to which a Loan Party has (A) entered into a Host Customer Agreement and (B) completed a system design, in each case, at such time, (iii) with respect to which the Loan Parties have received all necessary
permits from Governmental Authorities required to be obtained prior to installation of the related PV System and (iv) that has not been Tranched as of such time. 

“Person” means any natural person, corporation, limited liability company, trust, association, company, partnership,
Governmental Authority or other entity. 
 “Plan” means any employee benefit plan within the meaning of Section 3(3)
of ERISA (including a Pension Plan), maintained for employees of any Borrower or any ERISA Affiliate or any such Plan to which any Borrower or any ERISA Affiliate is required to contribute on behalf of any of its employees. 

“Platform” has the meaning specified in Section 6.02. 

“Pledged Equity” has the meaning specified in the Security Agreement. 

“Power Purchase Agreements” means a power purchase agreement entered into by any Borrower (which may subsequently be
transferred to an Excluded Subsidiary or Tax Equity Investor) and a customer, pursuant to which such customer agrees to purchase electricity from such Borrower, Excluded Subsidiary or Tax Equity Investor generated by a PV System installed on the
customer’s property. 
 “Prime Rate” has the meaning specified in the definition of “Base Rate”. 

“Pro Forma Basis” and “Pro Forma Effect” means, for any Disposition of all or substantially all of a line of
business, for any Acquisition or for the incurrence of any Indebtedness, in each instance whether actual or proposed, each such transaction or proposed transaction shall be deemed to have occurred on and as of the first day of the relevant
measurement period, and the following pro forma adjustments shall be made: 
 (a) in the case of an actual or proposed
Disposition, all income statement items (whether positive or negative) attributable to the line of business or the Person subject to such Disposition shall be excluded from the results of any Borrower and its Subsidiaries for such measurement
period; 
 (b) in the case of an actual or proposed Acquisition, income statement items (whether positive or negative)
attributable to the property, line of business or the Person subject to such Acquisition shall be included in the results of any Borrower and its Subsidiaries for such measurement period; 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 37 

 (c) interest accrued during the relevant measurement period on, and the principal
of, any Indebtedness repaid or to be repaid or refinanced in such transaction shall be excluded from the results of any Borrower and its Subsidiaries for such measurement period; and 

(d) any Indebtedness actually or proposed to be incurred or assumed in such transaction shall be deemed to have been incurred
as of the first day of the applicable measurement period, and interest thereon shall be deemed to have accrued from such day on such Indebtedness at the applicable rates provided therefor (and in the case of interest that does or would accrue at a
formula or floating rate, at the rate in effect at the time of determination) and shall be included in the results of any Borrower and its Subsidiaries for such measurement period. 

“Project” means a PV System together with all associated real property rights, rights under the applicable Host Customer
Agreement, and all other related rights to the extent applicable thereto, including without limitation, all parts and manufacturers’ warranties and rights to access customer data. 

“Project Back-Log” means, as of a given date of determination, all originated Projects (excluding cash sale Projects) that
have achieved Sunrun Sign-off as of such date of determination, as set forth in the Back-Log Spreadsheet; provided that Projects shall be removed from the Project Back-Log once Tax Equity Commitments have been drawn for that Project and the
Project is sold to a Tax Equity Partnership. 
 “Project Funds” shall mean (a) as of the date hereof, each of the
entities listed on Schedule 5.20(a) and (b) any additional Tax Equity Partnerships, Subsidiaries or other limited liability companies, partnerships or similar entities created after the date hereof by a Borrower or its respective
Subsidiaries in connection with Tax Equity Documents. 
 “Public Lender” has the meaning specified in Section 6.02.

 “Public Offering” means a public offering of the Equity Interests of any Borrower pursuant to an effective registration
statement under the Securities Act. 
 “PUHCA” means the Public Utility Holding Company Act of 2005, and FERC’s
regulations promulgated thereunder. 
 “PURPA” means the Public Utility Regulatory Policies Act of 1978, as amended,
and FERC’s regulations promulgated thereunder. 
 “PV Systems” means a photovoltaic system, including photovoltaic
panels, racks, wiring and other electrical devices, conduit, weatherproof housings, hardware, one or more inverters, remote monitoring equipment, connectors, meters, disconnects and over current devices. 

“PV System Value” means for PV Systems which are to be installed on residential property, the appraised value of a PV System
(based on the national appraisal or the state appraisals, as applicable, in each case as set forth in the most recent Appraisal). 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 38 

 “QF” means a qualifying small power production facility pursuant to PURPA and
FERC’s regulations thereunder, including at 18 C.F.R. §§ 292.203(a) and 292.204. 
 “Qualified ECP
Guarantor” means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify
as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

“Qualifying Control Agreement” means an agreement, among a Loan Party, a depository institution or securities intermediary
and the Collateral Agent, which agreement is in form and substance acceptable to the Collateral Agent and which provides the Collateral Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or
securities account(s) described therein. 
 “Recipient” means the Administrative Agent, the Collateral Agent, any Lender,
the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder. 

“Register” has the meaning specified in Section 11.06(c). 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, members, shareholders,
directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Release” or “Released” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging,
injecting, escaping, leaching, dumping, or disposing of any Hazardous Materials. 
 “Reportable Event” means any of the
events set forth in Section 4043(c) of ERISA. 
 “Request for Credit Extension” means (a) with respect to a
Borrowing, conversion or continuation of Revolving Loans, a Loan Notice and, (b) with respect to an L/C Credit Extension, a Letter of Credit Application. 

“Required Lenders” means, at any time, at least two (2) Lenders having Total Credit Exposures representing more
than 50% of the Total Credit Exposures of all Lenders. The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time; provided that, the Unreimbursed Amounts that such Defaulting
Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the L/C Issuer in making such determination. 

“Resignation Effective Date” has the meaning set forth in Section 9.06(a). 

“Responsible Officer” means the chief executive officer, chief financial officer, chief operations officer, chief revenue
officer or controller of a Loan Party and, solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the general counsel, the secretary or any assistant secretary of a Loan Party or any other officer of such Loan
Party designated as a Responsible Officer on a certificate executed by one of the aforementioned 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 39 

 
individuals. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate,
partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. To the extent requested by the Administrative Agent, each Responsible Officer will
provide an incumbency certificate, in form and substance satisfactory to the Administrative Agent. 
 “Restricted Payment”
means (a) any dividend or other distribution, direct or indirect, on account of any shares (or equivalent) of any class of Equity Interests of any Borrower or any of its Subsidiaries, now or hereafter outstanding, except such dividends or
distributions made by an Excluded Subsidiary in the ordinary course of business pursuant to and as permitted by the terms of the Tax Equity Commitments, Backlever Financing or System Refinancing, (b) any redemption, retirement, sinking fund or
similar payment, purchase or other acquisition for value, direct or indirect, of any shares (or equivalent) of any class of Equity Interests of any Borrower or any other Loan Party, now or hereafter outstanding, (c) any payment made to retire,
or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of Equity Interests of any Loan Party or any of its Subsidiaries, now or hereafter outstanding and (d) equity grants made in the
ordinary course of business in connection with any Loan Party’s stock option plan. 
 “Revolving Borrowing” means a
borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01(b). 

“Revolving Exposure” means, as to any Lender at any time, the aggregate principal amount at such time of its outstanding
Revolving Loans and such Lender’s participation in L/C Obligations at such time. 
 “Revolving Increase Effective
Date” has the meaning specified in Section 2.15(d). 
 “Revolving Loan” has the meaning specified in
Section 2.01(b). 
 “Revolving Note” means a promissory note made by the Borrowers in favor of a Lender evidencing
Revolving Loans made by such Lender, substantially in the form of Exhibit G. 
 “S&P” means
Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc., and any successor thereto. 

“Sale and Leaseback Transaction” means, with respect to any Loan Party or any Subsidiary thereof, any arrangement, directly
or indirectly, with any Person whereby such Loan Party or such Subsidiary shall sell or transfer any property used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that
it intends to use for substantially the same purpose or purposes as the property being sold or transferred. For the avoidance of doubt, a Sale and Leaseback Transaction does not include “operating leases” (as such term is defined in FASB
ASC 13). 
  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 40 

 “Sale-Leaseback Structure” means a tax equity investment structure in which a
Borrower either sells PV Systems to a Tax Equity Investor or contributes PV Systems to an Excluded Subsidiary, which entity then sells such PV Systems to a Tax Equity Investor or a partnership between an Excluded Subsidiary and a Tax Equity Investor
pursuant to a purchase agreement, which such entity subsequently leases back the same PV Systems to an Excluded Subsidiary. 

“Sanction(s)” means any international economic sanction administered or enforced by the United States Government (including,
without limitation, OFAC), the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Cash Management Agreement” means any Cash Management Agreement between the any Loan Party and any
Cash Management Bank. 
 “Secured Hedge Agreement” means any interest rate, currency, foreign exchange, or commodity Swap
Contract permitted under Article VI or VII between any Loan Party and any Hedge Bank. 
 “Secured Obligations” means
all Obligations and all Additional Secured Obligations. 
 “Secured Parties” means, collectively, the Administrative Agent,
the Collateral Agent, the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, the Indemnitees, each co-agent or sub-agent appointed by the Administrative Agent or the Collateral Agent from time to time pursuant to Section 9.05.

 “Secured Party Designation Notice” means a notice from any Lender or an Affiliate of a Lender substantially in the form
of Exhibit H. 
 “Securities Act” means the Securities Act of 1933, including all amendments thereto and
regulations promulgated thereunder. 
 “Security Agreement” means the Security and Pledge Agreement, dated as of the date
hereof, executed in favor of the Collateral Agent by each of the Loan Parties. 
 “Solvency Certificate” means a solvency
certificate in substantially in the form of Exhibit I. 
 “Solvent” and “Solvency” mean, with
respect to any Person on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair
saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not
believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a
transaction, for which such Person’s property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course
of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or
matured liability. 
  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 41 

 “Specified Loan Party” means any Loan Party that is not an “eligible
contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 10.11 hereof). 

“SREC” means Solar Renewable Energy Certificates or any other similar credit or certificate issued by a governmental entity
and all associated reporting rights. 
 “Statutory Reserves” shall mean a fraction (expressed as a decimal), the numerator
of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the FRB and
any other banking authority, domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D
of the FRB). Eurodollar Loans shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the FRB) and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be
available from time to time to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Subordinated Debt” shall mean any unsecured Indebtedness of any Borrower and its Subsidiaries under the Subordinated Debt
Documents and any other Indebtedness of such Borrower and its Subsidiaries which has been subordinated in right of payment and priority to the Indebtedness arising under this Agreement and the other Loan Documents, all on terms and conditions
satisfactory to the Administrative Agent. 
 “Subordinated Debt Documents” shall mean and include any documents evidencing
any Subordinated Debt, in each case, as the same may be amended, modified, supplemented or otherwise modified from time to time in compliance with the terms of this Agreement. 

“Subsidiary” of a Person means a corporation, partnership, limited liability company or other business entity of which a
majority of the shares of Voting Stock 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. Unless otherwise specified, all
references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Loan Parties. 

“Substantial Completion” shall mean a performed meter test (pursuant to which a PV System produces electricity and
communicates with a utility meter) and receipt of a closed out building permit from a local inspector. 
 “Sunrun Sign-off”
means, for a given Project, full execution of a Host Customer Agreement. 
  
 [***]
Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 42 

 “Supermajority Lenders” means, as of any date of determination, Lenders having
more than 66 2/3% of the Total Credit Exposures of all Lenders. The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Supermajority Lenders at any time; provided that, the Unreimbursed Amounts that such
Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the L/C Issuer in making such determination. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions,
interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

“Swap Obligations” means with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or
transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 
 “Swap
Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap
Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s)
for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Synthetic Debt” means, with respect to any Person as of any date of determination thereof, all obligations of such Person in
respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds but are not otherwise included in the definition of “Indebtedness” or as a liability on the Consolidated balance sheet of
such Person and its Subsidiaries in accordance with GAAP. 
 “Synthetic Lease Obligation” means the monetary obligation of
a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including Sale and Leaseback Transactions), in each case, creating obligations that do not
appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 43 

 “System Refinancing” means Indebtedness for borrowed money incurred by an
Excluded Subsidiary in connection with (i) the purchase of a Tax Equity Investor’s interest in a Partnership Flip Structure, Sale-Leaseback Structure or Inverted Lease Structure or (ii) the refinancing of any Backlever Financing or
financing described in clause (i), in each case, so long as (x) no Loan Party has an obligation to pay debt service under such Indebtedness and (y) the Tax Equity Commitment or Backlever Financing of such Excluded Subsidiary and its
partially or wholly owned Subsidiaries are no longer included in the calculation of Available Take-Out and the exclusion of such Tax Equity Commitments or Backlever Financings from the calculation of Available Take-Out does not result in a Borrowing
Base Deficiency. 
 “Take-Out Spreadsheet” means a spreadsheet for Projects, substantially in the form attached hereto as
Exhibit R, providing for the amount of Available Take-Out. 
 “Target” means a Person or division, line of
business or other business unit or asset of such Person who is to be acquired or purchased by a Loan Party. 
 “Tax Credit”
means (i) ITC, and (ii) other tax credits established by the IRS or a state of the United States for the purchase, lease or other acquisition of PV Systems. 

“Tax Credit Eligible Project” means a Project (or a PV System to which such Project relates) that satisfies the eligibility
requirements for a Tax Credit. 
 “Tax Equity Commitment” means, with respect to a given Tax Equity Investor, such Tax
Equity Investor’s (i) in the case of an Inverted Lease Structure, commitment to prepay rent, (ii) in the case of a Sale Leaseback Structure, commitment to pay the purchase price (excluding any long-term payment of a deferred purchase
price or any other payment that does not constitute a payment received for Tranching), (iii) in the case of a Partnership Flip Structure, commitment to contribute to the partnership for the payment of the purchase price, and (iv) in the
case of any other tax structure, commitment to fund Tranching. 
 “Tax Equity Document” means any agreements entered into
by any Borrower, its Subsidiaries or an Excluded Subsidiary and Tax Equity Investors relating to, arising under or in connection with a Tax Equity Commitment. 

“Tax Equity Investor” means an investor that has entered into agreements with any Borrower or its Subsidiaries to provide a
commitment to purchase, lease or otherwise finance PV System projects installed or to be installed pursuant to a Host Customer Agreement, which projects are eligible for a Tax Credit. 

“Tax Equity Partnership” means a special purpose entity whose membership interests are held by any Borrower or an Excluded
Subsidiary, as the managing member, and a Tax Equity Investor or a Subsidiary of such Tax Equity Investor, as the investor member, and whose members are obligated to advance capital contributions to purchase PV Systems from any Borrower or its
Subsidiaries in accordance with the Partnership Flip Structure. 
  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 44 

 “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Threshold Amount” means [***]. 

“Total Credit Exposure” means, as to any Lender at any time, the unused Commitments and Revolving Exposure of such Lender at
such time. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Revolving Loans and L/C Obligations. 

“Tranching” means the sale, lease, assignment, contribution or other transfer of Projects by any Borrower or its Subsidiaries
to an Excluded Subsidiary or Tax Equity Investor pursuant to an Inverted Lease Structure, Sale-Leaseback Structure or Partnership Flip Structure transaction. 

“True-Up Liability” means any Borrower’s liability to any Tax Equity Investor (as measured in Dollars) due to a
reduction of fair market value of Projects already Tranched with such Tax Equity Investor, as set forth in such Borrower’s financial statements and as may be reduced from time to time by the Tranching of such Projects pursuant to the applicable
Tax Equity Documents. 
 “Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurodollar Rate Loan.

 “UCC” means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection
or the effect of perfection or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means
the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

“UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits,
International Chamber of Commerce (“ICC”) Publication No. 600 (or such later version thereof as may be in effect at the time of issuance). 

“Unencumbered Liquidity” means the sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of
each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts maintained at a bank reasonably acceptable to the Administrative Agent, in which the Collateral Agent has obtained a perfected
first priority Lien subject to no other Liens. 
 “Unencumbered Liquidity Certificate” means a certificate substantially in
the form of Exhibit S. 
 “United States” and “U.S.” mean the United States of America. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
 45 

 “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 

“U.S. Loan Party” means any Loan Party that is organized under the laws of one of the states of the United States and
that is not a CFC. 
 “U.S. Person” means any Person that is a “United States Person” as defined in
Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning specified in
Section 3.01(e)(ii)(B)(3). 
 “Voting Stock” means, with respect to any Person, Equity Interests issued by such Person
the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even though the right to so vote has been suspended by the happening of
such contingency. 
 Section 1.02 Other Interpretive Provisions. 

With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a) 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, (i) any definition of or reference to any agreement, instrument or other document (including the
Loan Documents and any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, modified, extended, restated, replaced or supplemented from time to time (subject to any
restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words
“hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision
thereof, (iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the Loan
Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory rules, regulations, orders and 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, extended, restated, replaced or supplemented from time to time, and (vi) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

(b) 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.” 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 46 

 (c) Section headings herein and in the other Loan Documents are included for convenience of
reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 Section 1.03 Accounting Terms.

 (a) Generally. 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, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation
of any financial covenant) contained herein, Indebtedness of the Borrowers and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities
shall be disregarded. 
 (b) 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 Loan Document, and either the Borrowers or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrowers shall negotiate in good faith to amend such ratio or requirement to preserve
the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to
such change therein and (ii) the Borrowers 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. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the
Audited Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above. 

(c) Pro Forma Treatment. Each Disposition of all or substantially all of a line of business, and each Acquisition, by any Borrower and
its Subsidiaries that is consummated during any measurement period shall, for purposes of determining compliance with the financial covenants set forth in Section 7.11, be given Pro Forma Effect as of the first day of such measurement period.

 Section 1.04 Rounding. 

Any financial ratios required to be maintained by the Borrowers 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).

  
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 Section 1.05 Times of Day. 

Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).

 Section 1.06 Letter of Credit Amounts. 

Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of
Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount
thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 

Section 1.07 UCC Terms. 

Terms defined in the UCC in effect on the Closing Date and not otherwise defined herein shall, unless the context otherwise indicates, have the
meanings provided by those definitions. Subject to the foregoing, the term “UCC” refers, as of any date of determination, to the UCC then in effect. 

ARTICLE II 
 COMMITMENTS
AND CREDIT EXTENSIONS 
 Section 2.01 Loans. 

(a) Revolving Borrowings. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such
loan, a “Revolving Loan”) to the Borrowers, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment;
provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Outstandings shall not exceed the lesser of the Facility and the Borrowing Base, and (ii) the Revolving Exposure of any Lender shall not
exceed such Lender’s Commitment; and provided, further, that the requested date of any Borrowing shall not be later than five (5) Business Days prior to the Maturity Date of the Facility. Within the limits of each
Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow Revolving Loans, prepay such Loans under Section 2.04, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans
or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless
the Borrowers deliver a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing. 
  

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 (b) Borrowing Base. 

(i) Eligible Project Back-Log. If at any time during the Availability Period, the Collateral Agent conducts a field examination in
accordance with Section 6.10 and determines based on the results of such field examination, after consulting with the Borrowers, that in the Collateral Agent’s commercially reasonable judgment, the eligibility criteria for Eligible Project
Back-Log need to be revised, the Borrowers shall work in good faith with the Collateral Agent to revise the components of Eligible Project Back-Log and such agreed upon revisions shall be deemed to revise the definition of Eligible Project Back-Log
accordingly and the Borrowing Base shall be calculated thereafter using such revised definition. 
 (ii) Eligible Take-Out. During
the Availability Period, within five (5) Business Days after the closing of a new Tax Equity Commitment or Backlever Financing, the Borrowers shall provide to counsel to the Administrative Agent and the Collateral Agent (subject to the
restrictions set forth in Section 6.10) (i) a copy of the operative documents for such new Tax Equity Commitment or Backlever Financing, as the case may be, and (ii) a written summary of operative terms of such Tax Equity Commitment
or Backlever Financing. Counsel to the Administrative Agent and the Collateral Agent shall review such documents and report its results to the Administrative Agent and the Collateral Agent. If based on such report or a field examination conducted in
accordance with Section 6.10, the Collateral Agent determines, after consulting with the Borrowers, that in its commercially reasonable judgment, that such Tax Equity Commitment or Backlever Financing is ineligible, the Borrowing Base shall be
calculated without reference to such Tax Equity Commitment or Backlever Financing. If the Borrowers do not receive notice from the Collateral Agent that any new Tax Equity Commitment or Backlever Financing is to be ineligible under this
clause (b)(ii) within twenty (20) days after the delivery of the applicable documents as set forth above, such Tax Equity Commitments or Backlever Financing, as the case may be, shall be deemed eligible subject to the then existing
eligibility conditions set forth herein. 
 Section 2.02 Borrowings, Conversions and Continuations of Loans. 

(a) Notice of Borrowing. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate
Loans shall be made upon the Borrowers’ irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three
(3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of
Base Rate Loans; provided, however, that if the Borrower wishes to request Eurodollar Rate Loans having an Interest Period other than one (1), two (2), three (3) or six (6) months in duration as provided in the definition of
“Interest Period”, the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. four (4) Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the
Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., three (3) Business Days before the
requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Borrowers (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all 

 
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the Lenders. Each telephonic notice by the Borrowers pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrowers. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof.
Except as provided in Sections 2.03(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall
specify (A) the Facility and whether the Borrowers are requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Loans, as the case may be, under such Facility, (B) the requested date of the Borrowing,
conversion or continuation, as the case may be (which shall be a Business Day), (C) the principal amount of Loans to be borrowed, converted or continued, (D) the Type of Loans to be borrowed or to which existing Loans are to be converted,
(E) if applicable, the duration of the Interest Period with respect thereto and (F) which of the Borrowers is or are making the request in the Loan Notice. If the Borrowers fail to specify a Type of Loan in a Loan Notice or if the
Borrowers fail to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of
the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrowers request a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice, but fail to specify an Interest
Period, it will be deemed to have specified an Interest Period of one (1) month. 
 (b) Advances. Following receipt of a Loan
Notice for the Facility, the Administrative Agent shall promptly notify each Appropriate Lender of the amount of its Applicable Percentage under such Facility of the applicable Loans, and if no timely notice of a conversion or continuation is
provided by the Borrowers, the Administrative Agent shall notify each Appropriate Lender of the details of any automatic conversion to Base Rate Loans described in Section 2.02(a). In the case of a Borrowing, each Appropriate Lender shall make
the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the
applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension to be made on the Closing Date, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrowers in
like funds as received by the Administrative Agent either by (i) crediting the account of the Borrowers on the books of a bank acceptable to the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in
each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrowers; provided, however, that if, on the date a Loan Notice with respect to a Revolving Borrowing is given by the
Borrowers, there are L/C Borrowings outstanding, then the proceeds of such Revolving Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to the Borrowers as provided
above. 
 (c) Eurodollar Rate Loans. Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only
on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders, and the Required
Lenders may demand that any or all of the outstanding Eurodollar Rate Loans be converted immediately to Base Rate Loans. 
  

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 (d) Notice of Interest Rates. The Administrative Agent shall promptly notify the Borrowers
and the Lenders of the interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrowers and the
Lenders of any change in the Prime Rate used in determining the Base Rate promptly following the announcement of such change. 
 (e)
Interest Periods. After giving effect to all Revolving Borrowings, all conversions of Revolving Loans from one Type to the other, and all continuations of Revolving Loans as the same Type, there shall not be more than eight (8) Interest
Periods in effect in respect of the Facility. 
 Section 2.03 Letters of Credit. 

(a) The Letter of Credit Commitment. 

(i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Lenders set
forth in this Section, (1) from time to time on any Business Day during the period from the Closing Date until thirty (30) days prior to the Maturity Date, to issue Letters of Credit in Dollars for the account of any Borrower, and to amend
Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of
any Borrower and any drawings thereunder; provided that, after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Facility, (y) the Revolving Exposure of
any Lender shall not exceed such Lender’s Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by any Borrower for the issuance or amendment of a Letter of Credit
shall be deemed to be a representation by such Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions
hereof, any Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly such Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn
upon and reimbursed. Each Existing Letter of Credit is deemed to be a Letter of Credit issued hereunder for all purposes of this Agreement and the other Loan Documents. 

(ii) The L/C Issuer shall not issue any Letter of Credit if: 

(A) the initial expiry date of the requested Letter of Credit would occur more than twelve (12) months after the date of issuance,
unless the Required Lenders have approved such expiry date; or 
 (B) the expiry date of the requested Letter of Credit would occur after
the Letter of Credit Expiration Date; 
  
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 in each case, provided, however, that any Letter of Credit may provide for renewal thereof for
additional periods of up to twelve (12) months (which in no event shall extend beyond the date referred to in clause (B) above). 

(iii) Any issuance of a Letter of Credit is subject to satisfaction of the conditions set forth in Section 4.02, and the L/C Issuer shall
not be under any obligation to issue any Letter of Credit if: 
 (A) any order, judgment or decree of any Governmental Authority or
arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental
Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the L/C Issuer with respect to the
Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which
was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 
 (B) the issuance of the Letter of
Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally; 
 (C) except as otherwise agreed by
the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial stated amount less than $100,000, in the case of a commercial Letter of Credit, or $100,000, in the case of a standby Letter of Credit; 

(D) the Letter of Credit is to be denominated in a currency other than Dollars; or 

(E) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash
Collateral, satisfactory to the L/C Issuer (in its sole discretion) with any Borrower or such Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.14(a)(iv)) with respect to the
Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole
discretion. 
 (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue the
Letter of Credit in its amended form under the terms hereof. 
 (v) The L/C Issuer shall be under no obligation to amend any Letter of
Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to the
Letter of Credit. 
  
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 (vi) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit
issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the L/C
Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included the L/C
Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 
 (vii) In no
event shall the Administrative Agent be required to issue commercial or trade Letters of Credit. 
 (viii) Letters of Credit shall be used
solely to support payment obligations incurred in the ordinary course of business by any Borrower and its Subsidiaries. 
 (b) Procedures
for Issuance and Amendment of Letters of Credit; Auto Extension Letters of Credit. 
 (i) Each Letter of Credit shall be issued or
amended, as the case may be, upon the request of any Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of such
Borrower. Such Letter of Credit Application may be sent by fax transmission, by United States mail, by overnight courier, by electronic transmission using the system provided by the L/C Issuer, by personal delivery or by any other means acceptable
to the L/C Issuer. Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two (2) Business Days (or such later date and time as the Administrative Agent and the
L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit
Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof;
(D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any
drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of
Credit Application shall specify in form and detail satisfactory to the L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed
amendment; and (4) such other matters as the L/C Issuer may require. Additionally, such Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit
issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may require. 
 (ii) Promptly after
receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from such Borrower and, if
not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan Party, at 

 
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least one (1) Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall
not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of such Borrower or enter into the applicable amendment, as the case may be, in each case
in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C
Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Revolving Percentage times the amount of such Letter of Credit. 

(iii) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or
to the beneficiary thereof, the L/C Issuer will also deliver to such Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 

(iv) If such Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole discretion, agree to issue a
standby Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that, any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension
at least once in each twelve (12) month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each
such twelve (12) month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, such Borrower shall not be required to make a specific request to the L/C Issuer for any such extension.
Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of
Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter
of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in
writing) on or before the day that is seven (7) Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative
Agent, any Lender or such Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 

(v) Notwithstanding the terms of any Letter of Credit Application for a commercial Letter of Credit, in no event may any Borrower extend the
time for reimbursing any drawing under a commercial Letter of Credit by obtaining a bankers’ acceptance from the L/C Issuer. With respect to commercial Letters of Credit, the L/C Issuer may issue sight and/or deferred payment Letters of Credit
only. 
  
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 (c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify the Borrower and the Administrative Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), such Borrower shall reimburse the L/C
Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of
the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Revolving Percentage thereof. In such event, such Borrower shall be deemed to have requested a Revolving Borrowing of Base Rate
Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the
unutilized portion of the Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given
by telephone if immediately confirmed in writing; provided that, the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply Cash
Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Revolving Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day
specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to such Borrower in such amount. The
Administrative Agent shall remit the funds so received to the L/C Issuer. 
 (iii) With respect to any Unreimbursed Amount that is not fully
refinanced by a Revolving Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, such Borrower shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the
amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to the Administrative
Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation
obligation under this Section. 
 (iv) Until each Lender funds its Revolving Loan or L/C Advance pursuant to this Section 2.03(c) to
reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Revolving Percentage of such amount shall be solely for the account of the L/C Issuer. 

(v) Each Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of
Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have
against the L/C Issuer, any Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default; or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing;
provided, however, that each 
  
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Lender’s obligation to make Revolving Loans pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by any Borrower of a Loan
Notice). If, on any date of determination, a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, each Lender shall remain obligated to reimburse the L/C Issuer
for any drawings made during the period after the expiry date of such Letter of Credit even if such Letter of Credit is extended beyond the Maturity Date of the Facility. No such making of an L/C Advance shall relieve or otherwise impair the
obligation of any Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi) If any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid by
such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such
Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum
equal to the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in
connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing or L/C Advance in respect of the
relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest error.

 (d) Repayment of Participations. 

(i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender’s L/C
Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from
any Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Revolving Percentage thereof in the same funds as those received by
the Administrative Agent. 
 (ii) If any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to
Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Lender shall pay to the Administrative
Agent for the account of the L/C Issuer its Applicable Revolving Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum
equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

 
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 (e) Obligations Absolute. The obligation of any Borrower to reimburse the L/C Issuer for
each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document; 

(ii) the existence of any claim, counterclaim, setoff, defense or other right that such Borrower or any Subsidiary thereof may have at any
time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement or by such
Letter of Credit, the transactions contemplated hereby or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, endorsement, certificate or other document presented under or in connection with such Letter of Credit proving to be
forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such
Letter of Credit; 
 (iv) waiver by the L/C Issuer of any requirement that exists for the L/C Issuer’s protection and not the
protection of such Borrower or any waiver by the L/C Issuer which does not in fact materially prejudice such Borrower; 
 (v) honor of a
demand for payment presented electronically even if such Letter of Credit requires that demand be in the form of a draft; 
 (vi) any
payment made by the L/C Issuer in respect of an otherwise complying item presented after the date specified as the expiration date of, or the date by which documents must be received under such Letter of Credit if presentation after such date is
authorized by the UCC, the ISP or the UCP, as applicable; 
 (vii) any payment by the L/C Issuer under such Letter of Credit against
presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy,
debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under
any Debtor Relief Law; or 
 (viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing,
including any other circumstance that might otherwise constitute a defense available to, or a discharge of, such Borrower or any of its Subsidiaries. 

Such Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of
any claim of noncompliance with such Borrower’s instructions or other irregularity, such Borrower will immediately notify the L/C Issuer. Such Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its
correspondents unless such notice is given as aforesaid. 
  
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 (f) Role of L/C Issuer. Each Lender and each Borrower agree that, in paying any drawing
under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight or time draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the
validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or
assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted
in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. Each Borrower hereby assumes all
risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude such Borrower’s pursuing such
rights and remedies as any of them may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or
assignee of the L/C Issuer shall be liable or responsible for any of the matters described in Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, any Borrower may have a claim against
the L/C Issuer, and the L/C Issuer may be liable to such Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by such Borrower which such Borrower proves, as determined by a final
nonappealable judgment of a court of competent jurisdiction, were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the
beneficiary of a sight or time draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to
be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring, endorsing or
assigning or purporting to transfer, endorse or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. The L/C Issuer may send a Letter of
Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially reasonable means of communicating
with a beneficiary. 
 (g) Applicability of ISP and UCP; Limitation of Liability. Unless otherwise expressly agreed by the L/C Issuer
and any Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the
L/C Issuer shall not be responsible to such Borrower for, and the L/C Issuer’s rights and remedies against such Borrower shall not be impaired by, any action or inaction of the L/C Issuer required or permitted under any law, order, or practice
that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where the L/C Issuer 
  

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or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the
Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 

(h) Letter of Credit Fees. Each Borrower shall pay to the Administrative Agent for the account of each Lender, subject to
Section 2.14, in proportion to its Applicable Revolving Percentage, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Section 2.03 equal to the Applicable Rate times the
aggregate face amount available to be drawn under such Letter of Credit. For purposes of computing the aggregate face amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. Letter of Credit Fees shall be due and payable quarterly in arrears on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such
Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. 
 (i) Fronting Fee and Documentary and Processing
Charges Payable to L/C Issuer. Each Borrower shall pay directly to the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate equal to 0.25% per annum, computed on the amount of
such Letter of Credit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between such Borrower and the L/C
Issuer, computed on the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate equal to 0.25% per annum, computed on the aggregate face amount
available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable quarterly in arrears on the first Business Day after the end of each March, June, September and December, commencing with
the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of
such Letter of Credit shall be determined in accordance with Section 1.06. In addition, each Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other
standard costs and charges, of the L/C Issuer as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 

(j) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the
terms hereof shall control. 
 (k) Additional L/C Issuers. The Borrowers may, at any time and from time to time with the consent of
the Administrative Agent (which consent shall not be unreasonably withheld or delayed) and such Lender, designate one or more additional Lenders to act as an L/C Issuer under the terms of this Agreement, subject to reporting requirements reasonably
satisfactory to the Administrative Agent with respect to issuances, amendments, extensions and terminations of Letters of Credit by such additional L/C Issuer. Any Lender designated as an L/C Issuer pursuant to this paragraph (k) shall be
deemed to be an “L/C Issuer” (in addition to being a Lender) in respect of Letters of Credit issued or to be issued by such Lender, and, with respect to such Letters of Credit, such term shall thereafter apply to the other L/C Issuer and
such Lender. 
  
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 Section 2.04 Prepayments. 

(a) Optional. 
 (i) The
Borrowers may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans in whole or in part without premium or penalty; provided that, (A) such notice must be received by the
Administrative Agent not later than 11:00 a.m. (1) three (3) Business Days prior to any date of prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurodollar Rate
Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or,
in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest
Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable Percentage in
respect of the relevant Facility). If such notice is given by the Borrowers, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of principal
shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.14, such prepayments shall be paid to the Lenders in accordance with their
respective Applicable Percentages in respect of the Facility. 
 (b) Mandatory. 

(i) Revolving Outstandings. If for any reason a Borrowing Base Deficiency exists in an amount in excess of twenty percent (20%) of
the Borrowing Base at any time of determination, the Borrowers shall immediately on demand prepay Revolving Loans and/or L/C Borrowings (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in an
aggregate amount equal to such excess, and if a Borrowing Base Deficiency exists in an amount in excess of twenty percent (20%) of the Borrowing Base Collateral Agent shall have the right to have a field examination conducted on behalf of the
Collateral Agent in accordance with Section 6.10 with results reasonably satisfactory to the Collateral Agent. If for any reason a Borrowing Base Deficiency exists in an amount equal to or less than twenty percent (20%) of the Borrowing
Base at any time of determination, the Borrowers shall, within forty-five (45) days of demand, prepay Revolving Loans and/or L/C Borrowings (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in
an aggregate amount equal to such excess; provided that, if such Borrowing Base Deficiency exists, at such time and at any time during which such Borrowing Base Deficiency exists, the Borrowers do not have at least $100,000,000 in
unrestricted cash and deposit account balances with respect to which the Collateral Agent has obtained a perfected first priority Lien subject to no other Liens, the reference to forty-five (45) days in this sentence shall be deemed to
reference three (3) Business Days; and provided, further, that, at any time during 
  

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which such Borrowing Base Deficiency exists, the Borrowers shall notify the Administrative Agent immediately in the event that the Borrowers have less than $100,000,000 in unrestricted cash.
Notwithstanding the foregoing, in the event of any Borrowing Base Deficiency, the Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.04(b)(i) unless, after the prepayment of the Revolving Loans,
a Borrowing Base Deficiency continues to exist. 
 (ii) Certain Indebtedness. If any Borrower is required to make a payment or
contribution in connection with Indebtedness incurred pursuant to Section 7.02(i) and the conditions in clauses (x) and (y) of Section 7.02(i)(ii), after giving effect to such payment or contribution on a Pro Forma Basis,
are not satisfied, the Borrowers shall immediately on demand prepay Revolving Loans and/or L/C Borrowings (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in an aggregate amount sufficient to
cause the Loan Parties to be in compliance with such conditions. 
 (iii) Application of Other Payments. Except as otherwise provided
in Section 2.14, prepayments of the Facility made pursuant to this Section 2.04(b), first, shall be applied ratably to the L/C Borrowings, second, shall be applied to the outstanding Revolving Loans, and, third, shall
be used to Cash Collateralize the remaining L/C Obligations. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without any further action by or notice to or from the
Borrowers or any other Loan Party or any Defaulting Lender that has provided Cash Collateral) to reimburse the L/C Issuer or the Lenders, as applicable. 

Within the parameters of the applications set forth above, prepayments pursuant to this Section 2.04(b) shall be applied first to Base
Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.04(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by
interest on the principal amount prepaid to the date of prepayment. 
 Section 2.05 Termination or Reduction of Commitments. 

(a) Optional. The Borrowers may, upon notice to the Administrative Agent, terminate the Facility or the Letter of Credit Sublimit, or
from time to time permanently reduce the Facility or the Letter of Credit Sublimit; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five (5) Business Days prior to the
date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrowers shall not terminate or reduce (A) the
Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Facility or (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C
Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit. If after giving effect to any reduction or termination of Commitments under this Section 2.05, the Letter of Credit Sublimit exceeds the Facility at
such time, the Letter of Credit Sublimit shall be automatically reduced by the amount of such excess. 
  

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 (b) Application of Commitment Reductions; Payment of Fees. 

The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Letter of Credit Sublimit or the Commitments
under this Section 2.05. Upon any reduction of the Commitments, the Commitment of each Lender shall be reduced by such Lender’s Applicable Revolving Percentage of such reduction amount, the Facility shall be reduced as to such amount and
any Commitment Fees accruing with respect thereto shall be calculated based on the reduced Facility. All fees in respect of the Facility accrued until the effective date of any termination of the Facility shall be paid on the effective date of such
termination. 
 Section 2.06 Repayment of Loans. 

The Borrowers shall repay to the Lenders on the Maturity Date for the Facility the aggregate principal amount of all Revolving Loans
outstanding on such date. 
 Section 2.07 Interest and Default Rate. 

(a) Interest. Subject to the provisions of Section 2.07(b), (i) each Eurodollar Rate Loan under the Facility shall bear
interest on the outstanding principal amount thereof for each Interest Period from the applicable borrowing date at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate for such Facility; and (ii) each
Base Rate Loan under the Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for such Facility. 

(b) Default Rate. 
 (i) If
any amount of principal of any Loan is not paid when due, whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws. 
 (ii) If any amount (other than principal of any Loan) payable by the Borrowers under any
Loan Document is not paid when due, whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) Upon the request of the Required Lenders, while any Event of
Default exists, outstanding Obligations (including Letter of Credit Fees) may accrue at a fluctuating rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

 
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 (c) Interest Payments. Interest on each Loan shall be due and payable in arrears on each
Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any
proceeding under any Debtor Relief Law. 
 Section 2.08 Fees. 

In addition to certain fees described in Section 2.03: 

(a) Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of each Lender in accordance with its
Applicable Revolving Percentage, a commitment fee (the “Commitment Fee”) equal to the Applicable Rate times the actual daily amount by which the Facility exceeds the sum of (i) the Outstanding Amount of Revolving Loans and
(ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.14. The Commitment Fee shall accrue at all times during the Availability Period, including at any time during which one or more of the
conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last
day of the Availability Period for the Facility. 
 (b) Other Fees. 

(i) The Borrowers shall pay to the Administrative Agent and the Arranger for its own account fees in the amounts and at the times specified in
the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 (ii) The Borrowers shall
pay to the Lenders (x) an upfront fee equal to 1.00% of the Aggregate Commitments on the Closing Date and (y) such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever. 
 Section 2.09 Computation of Interest and Fees; Retroactive
Adjustments of Applicable Rate. 
 (a) Computation of Interest and Fees. All computations of interest for Base Rate
Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis of a year of three hundred sixty-five (365) or three hundred sixty-six (366) days, as the case may be, and actual days elapsed. All
other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a three hundred sixty-five
(365) day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that, any Loan that is
repaid on the same day on which it is made shall, subject to Section 2.11(a), bear interest for one (1) day. All computations of interest and fees in respect of the Facility shall be calculated on the basis of the full stated principal
amount of the Facility. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

 
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 Section 2.10 Evidence of Debt. 

(a) Maintenance of Accounts. The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained
by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made
by the Lenders to the Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any amount owing with respect to
the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall
control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrowers shall execute and deliver to such Lender (through the Administrative Agent) a Revolving Note, which shall evidence such
Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Revolving Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

(b) Maintenance of Records. In addition to the accounts and records referred to in Section 2.10(a), each Lender and the
Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event of any conflict between the accounts and records
maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

Section 2.11 Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrowers shall be made free and clear of and without condition or deduction for any
counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed,
at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage in respect
of the relevant Facility (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be
deemed received on the next succeeding Business Day (in the Administrative Agent’s sole discretion) and any applicable interest or fee shall continue to accrue. Subject to Section 2.06 and as otherwise specifically provided for in this
Agreement, if any payment to be made by the Borrowers shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the
case may be. 
 (b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received
notice from a Lender prior to the proposed date of any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior 
  

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to 12:00 noon on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by
Section 2.02) and may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then
the applicable Lender and the Borrowers severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is
made available to the Borrowers to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent
in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be
made by the Borrowers, the interest rate applicable to Base Rate Loans. If the Borrowers and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the
Borrowers the amount of such interest paid by the Borrowers for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such
Borrowing. Any payment by the Borrowers shall be without prejudice to any claim the Borrowers may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii) Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the
Borrowers prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrowers will not make such payment, the Administrative Agent may assume that the Borrowers have
made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if the Borrowers have not in fact made such
payment, then each of the Appropriate Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds
with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation. 
 A notice of the Administrative Agent to any Lender or the
Borrowers with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error. 
 (c) Failure to
Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the
Borrowers by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like
funds as received from such Lender) to such Lender, without interest. 
  
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 (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Revolving Loans, to fund participations in Letters of Credit and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment under
Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase
its participation or to make its payment under Section 11.04(c). 
 (e) Funding Source. Nothing herein shall be deemed to
obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

Section 2.12 Sharing of Payments by Lenders. 

If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations in
respect of any of the Facility due and payable to such Lender hereunder and under the other Loan Documents at such time in 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 in respect of the Facility due and payable to all Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations in respect of the
Facility due and payable to all Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or (b) Obligations in respect of any of the Facility owing (but not due and payable) to such Lender
hereunder and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing (but not due and payable) to such Lender at such time to (ii) the aggregate
amount of the Obligations in respect of the Facility owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations in respect of the Facility owing (but not due
and payable) to all Lenders hereunder and under the other Loan Documents at such time obtained by all of the Lenders at such time, then, in each case under clauses (a) and (b) above, the Lender receiving such greater proportion shall
(A) notify the Administrative Agent of such fact, and (B) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations of the other Lenders, or make such other adjustments as shall be equitable, so
that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of Obligations in respect of the Facility then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as
the case may be, provided that: 
 (1) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

 
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 (2) the provisions of this Section shall not be construed to apply to
(x) any payment made by or on behalf of the Borrowers pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (y) the application of
Cash Collateral provided for in Section 2.13, or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or subparticipations in L/C Obligations to any assignee or
participant, other than an assignment to any Loan Party or any Affiliate thereof (as to which the provisions of this Section shall apply). 

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such
participation. 
 Section 2.13 Cash Collateral. 

(a) Certain Credit Support Events. If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit
and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Loan Parties shall be required to provide Cash Collateral pursuant to
Section 2.04 or 8.02(c), or (iv) there shall exist a Defaulting Lender, the Loan Parties shall immediately (in the case of clause (iii) above) or within one (1) Business Day (in all other cases) following any request by the
Collateral Agent or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to
Section 2.14(a)(iv) and any Cash Collateral provided by the Defaulting Lender. 
 (b) Grant of Security Interest. The Loan
Parties hereby grant to (and subjects to the control of) the Collateral Agent, for the benefit of the Secured Parties, and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all
other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.13(c). If at any time the Collateral Agent
determines that Cash Collateral is subject to any right or claim of any Person other than the Collateral Agent or the L/C Issuer as herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the
Loan Parties will, promptly upon demand by the Collateral Agent, pay or provide to the Collateral Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency. All Cash Collateral (other than credit support not constituting
funds subject to deposit) shall be maintained in one or more Cash Collateral Accounts. The Loan Parties shall pay on demand therefor from time to time all customary account opening, activity and other administrative fees and charges in connection
with the maintenance and disbursement of Cash Collateral. 
  
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 (c) Application. Notwithstanding anything to the contrary contained in this Agreement,
Cash Collateral provided under any of this Section 2.13 or Sections 2.03, 2.04, 2.14 or 8.02 in respect of Letters of Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to fund
participations therein (including, as to Cash Collateral provided by a Lender that is a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application
of such property as may be provided for herein. 
 (d) Release. Cash Collateral (or the appropriate portion thereof) provided to
reduce Fronting Exposure or to secure other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender
status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the determination by the Collateral Agent and the L/C Issuer that there exists excess Cash Collateral;
provided, however, (A) any such release shall be without prejudice to, and any disbursement or other transfer of Cash Collateral shall be and remain subject to, any other Lien conferred under the Loan Documents and the other
applicable provisions of the Loan Documents, and (B) the Person providing Cash Collateral and the L/C Issuer may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other
obligations. 
 Section 2.14 Defaulting Lenders. 

(a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then,
until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 
 (i) Waivers and
Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 11.01.

 (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at
such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of
any amounts owing by such Defaulting Lender to the L/C Issuer hereunder; third, to Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.13; fourth, as the
Borrowers may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the Borrowers, to be held in a deposit account and released pro rata in order to (A) satisfy such Defaulting Lender’s potential future funding obligations with respect
to Loans under this Agreement and (B) Cash Collateralize the L/C Issuer’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with
Section 2.13; sixth, to the payment of any amounts owing to the Lenders or the L/C Issuer as a result of any judgment of a court of competent jurisdiction obtained by any Lender or the L/C Issuer against such Defaulting Lender as a
result 
  
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of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the
Borrowers as a result of any judgment of a court of competent jurisdiction obtained by the Borrowers against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to
such Defaulting Lender or as otherwise as may be required under the Loan Documents in connection with any Lien conferred thereunder or directed by a court of competent jurisdiction; provided that, if (1) such payment is a payment of the
principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share, and (2) such Loans were made or the related Letters of Credit were issued at a time when the conditions set
forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C
Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to
Section 2.14(a)(v). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.14(a)(ii)
shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 
 (iii) Certain Fees.

 (A) Fees. No Defaulting Lender shall be entitled to receive any fee payable under Section 2.08 for any period during which
that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(B) Letter of Credit Fees. Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period during which that
Lender is a Defaulting Lender only to the extent allocable to its Applicable Revolving Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.13. 

(C) Defaulting Lender Fees. With respect to any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to
clause (A) or (B) above, the Borrowers shall (1) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in L/C Obligations
that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (2) pay to the L/C Issuer the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s
Fronting Exposure to such Defaulting Lender, and (3) not be required to pay the remaining amount of any such fee. 
 (iv)
Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in L/C Obligations shall be reallocated among the Non-Defaulting Lenders in accordance with their
respective Applicable Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (A) the conditions set forth in Section 4.02 are satisfied at the time of such reallocation
(and, unless the Borrowers shall have otherwise notified the Administrative Agent at 
  

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such time, the Borrowers shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (B) such reallocation does not cause the aggregate Revolving
Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender
having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(v) Cash Collateral. If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrowers
shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, Cash Collateralize the L/C Issuer’s Fronting Exposure in accordance with the procedures set forth in Section 2.13. 

(b) Defaulting Lender Cure. If the Borrowers, the Administrative Agent and the L/C Issuer agree in writing that a Lender is no longer a
Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash
Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and
unfunded participations in Letters of Credit to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.14(a)(iv)), whereupon such Lender will cease to be a Defaulting
Lender; provided that, no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrowers while that Lender was a Defaulting Lender; and provided, further, that except to the
extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 Section 2.15 Increase in Facility. 

(a) Request for Increase. Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the
Lenders), the Borrowers may from time to time, request an increase in the Facility (“Incremental Facility”) so long as the Facility, after taking into account all such requests, does not exceed an aggregate principal amount of
$250,000,000; provided that (i) any such request for an Incremental Facility shall be in a minimum aggregate principal amount of $10,000,000 and in increments of $5,000,000 in excess thereof, and (ii) the Borrowers may make a
maximum of three (3) such requests. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond. 

(b) Lender Elections to Increase. Each Lender shall elect to participate in the Incremental Facility its sole discretion and shall
notify the Administrative Agent within such time period whether or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Revolving Percentage of such requested increase. Any
Lender not responding within such time period shall be deemed to have declined to increase its Commitment. 
  

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 (c) Notification by Administrative Agent; Additional Lenders. The Administrative Agent
shall notify the Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative Agent and the L/C Issuer (which approvals
shall not be unreasonably withheld), the Borrowers may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement (“New Lenders”) in form and substance satisfactory to the Administrative Agent and
its counsel. 
 (d) Effective Date and Allocations. If the Facility is increased in accordance with this Section, the Administrative
Agent and the Borrowers shall determine the effective date (the “Revolving Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify the Borrowers, the Lenders and the New
Lenders of the final allocation of such increase and the Revolving Increase Effective Date. 
 (e) Conditions to Effectiveness of
Increase. As a condition precedent to such increase, the Borrowers shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Revolving Increase Effective Date (in sufficient copies for each Lender) signed by a
Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (ii) in the case of each Borrower, certifying that, immediately before and after
giving effect to the Incremental Facility, (A) the representations and warranties contained in Article V and the other Loan Documents are, (x) with respect to representations and warranties that contain a materiality qualification,
true and correct in all respects, and (y) with respect to representations and warranties that do not contain a materiality qualification, true and correct in all material respects, in each case, on and as of the Revolving Increase Effective
Date (or if such representations and warranties expressly relate to an earlier date, as of such earlier date), and except that, for purposes of this Section 2.15, the representations and warranties contained in subsections (a) and
(b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, (B) no Default exists, (C) all financial covenants would be satisfied
on a Pro Forma Basis on the Revolving Increase Effective Date and for the most recent determination period, after giving effect to any such Incremental Facility (and assuming such Incremental Facility were fully drawn), (D) the maturity date of
the Loans in respect of any portion of such Incremental Facility shall be no earlier than the Maturity Date of the Facility, (E) the average life to maturity of the Loans in respect of such Incremental Facility shall be no shorter than the
remaining average life to maturity of the Facility, and (F) all fees and expenses owing in respect of such increase to the Administrative Agent and the Lenders shall have been paid. The Borrowers shall deliver or cause to be delivered any other
customary documents (including, without limitation, legal opinions) as reasonably requested by the Administrative Agent in connection with any Incremental Facility. The Borrowers shall prepay any Revolving Loans outstanding on the Revolving Increase
Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Applicable Revolving Percentages arising from any nonratable increase in
the Commitments under this Section. 
 (f) Conflicting Provisions. This Section shall supersede any provisions in Section 2.12
or 11.01 to the contrary. 
  
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 (g) Incremental Facility. Except as otherwise specifically set forth herein, all of the
other terms and conditions applicable to such Incremental Facility shall be identical to the terms and conditions applicable to the Facility, including, without limitation, having the same Guarantees as the Facility and being secured on a pari
passu basis by the same Collateral securing the Facility. 
 Section 2.16 Joint and Several Liability. 

It is the intent of the parties hereto that the Borrowers shall be jointly and severally obligated hereunder, as co-borrowers under this
Agreement, in respect of the principal of and interest on, and all other amounts owing in respect of, the Credit Extensions. In that connection, each Borrower hereby (i) jointly and severally and irrevocably and unconditionally accepts, not
merely as a surety but also as a co-debtor, joint and several liability with the other Borrowers with respect to the payment and performance of all of the obligations hereunder, it being the intention of the parties hereto that all such obligations
shall be the joint and several obligations of each Borrower without preferences or distinction among them and that the obligations of each Borrower hereunder shall be unconditional irrespective of any circumstance whatsoever that might otherwise
constitute a legal or equitable discharge or defense of a guarantor or surety, and (ii) further agrees that, if any of such obligations are not paid in full when due (whether at stated maturity, as a mandatory prepayment or cash
collateralization, by acceleration or otherwise), the Borrowers will, jointly and severally, promptly pay the same, without any demand or notice whatsoever. All Borrowers acknowledge and agree that the delivery of funds to any Borrower under this
Agreement shall constitute valuable consideration and reasonably equivalent value to all Borrowers for the purpose of binding them and their assets on a joint and several basis for the obligations hereunder. 

ARTICLE III 
 TAXES,
YIELD PROTECTION AND ILLEGALITY 
 Section 3.01 Taxes. 

(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. 

(i) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or
withholding for any Taxes, except as required by applicable Laws. If any applicable Laws (as determined in the good faith discretion of the Administrative Agent) require the deduction or withholding of any Tax from any such payment by the
Administrative Agent or a Loan Party, then the Administrative Agent or such Loan Party shall be entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e)
below. 
 (ii) If any Loan Party or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes, including both
United States federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are determined by the Administrative Agent to be required based upon the information
and documentation it has received pursuant to subsection (e) below, (B) the 
  

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Administrative Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the Code, and (C) to the extent that the withholding or
deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all required deductions (including deductions applicable to
additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 

(iii) If any Loan Party or the Administrative Agent shall be required by any applicable Laws other than the Code to withhold or deduct any
Taxes from any payment, then (A) such Loan Party or the Administrative Agent, as required by such Laws, shall withhold or make such deductions as are determined by it to be required based upon the information and documentation it has received
pursuant to subsection (e) below, (B) such Loan Party or the Administrative Agent, to the extent required by such Laws, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with such
Laws, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all
required deductions (including deductions applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 

(b) Payment of Other Taxes by the Loan Parties. Without limiting the provisions of subsection (a) above, the Loan Parties shall
timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(c) Tax Indemnifications. 

(i) Each of the Loan Parties shall, and does hereby, jointly and severally indemnify each Recipient, and shall make payment in respect thereof
within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or
required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted
by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf
or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. Each of the Loan Parties shall also, and does hereby, jointly and severally indemnify the Administrative Agent, and shall make payment in respect thereof within
ten (10) days after demand therefor, for any amount which a Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to Section 3.01(c)(ii) below. 

(ii) Each Lender and the L/C Issuer shall, and does hereby, severally indemnify and shall make payment in respect thereof within ten
(10) days after demand therefor, (A) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the 
  

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L/C Issuer (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to
do so), (B) the Administrative Agent and the Loan Parties, as applicable, against any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register
and (C) the Administrative Agent and the Loan Parties, as applicable, against any Excluded Taxes attributable to such Lender or the L/C Issuer, in each case, that are payable or paid by the Administrative Agent or a Loan Party in connection
with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing
to such Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii). 

(d) Evidence of Payments. Upon request by the Borrowers or the Administrative Agent, as the case may be, after any payment of Taxes by
any Loan Party or by the Administrative Agent to a Governmental Authority as provided in this Section 3.01, the Borrowers shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrowers, as the case may be,
the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrowers or
the Administrative Agent, as the case may be. 
 (e) Status of Lenders; Tax Documentation. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to the Borrowers and the Administrative Agent, at the time or times reasonably requested by the Borrowers or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrowers or the
Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrowers or the Administrative Agent, shall deliver such other
documentation prescribed by applicable Law or reasonably requested by the Borrowers or the Administrative Agent as will enable the Borrowers or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.01(e)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the
legal or commercial position of such Lender. 
  
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 (ii) Without limiting the generality of the foregoing, in the event that any Borrower is a
U.S. Person, 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to
the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), properly completed and executed originals of IRS Form W-9 certifying
that such Lender is exempt from U.S. federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally
entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to
time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, properly completed and executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the
“interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, properly completed and executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of,
U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2) properly completed and executed originals of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of
the Code, (x) a certificate substantially in the form of Exhibit K-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent
shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance
Certificate”) and (y) properly completed and executed originals of IRS Form W-8BEN; or 
 (4) to the
extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY from the Foreign Lender, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of
Exhibit K-2 or Exhibit K-3, properly completed and executed originals of IRS Form W-9 and/or IRS Form W 8IMY, and/or other required documents from each intermediary and direct or indirect beneficial owner, as
applicable; provided that, if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance
Certificate substantially in the form of Exhibit K-4 on behalf of each such direct and indirect partner; 
  

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the Securities and Exchange Commission. 

  
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 (C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the
Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such
supplementary documentation as may be prescribed by applicable Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such
Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent
at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)
and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of
this Agreement. 
 (iii) The Administrative Agent and each Lender agrees that if any form or certification it previously delivered pursuant
to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall provide a new form or certification on or before the next Interest Payment Date or promptly notify the Borrowers and the Administrative Agent, as the case
may be, in writing of its legal inability to do so. 
 (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no
time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds paid
for the account of such Lender or the L/C Issuer, as the case may be. If any Recipient determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified by any Loan Party or
with respect to which any Loan Party has paid additional amounts pursuant to this Section 3.01, it shall pay to such Loan Party an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by
such Loan Party under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, as the case may be, and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund); provided that, each Loan Party, upon the request of the Recipient, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other
charges imposed by 
  
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 the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund
to such Governmental Authority. Notwithstanding anything to the contrary in this subsection, in no event will the applicable Recipient be required to pay any amount to such Loan Party pursuant to this subsection the payment of which would place the
Recipient in a less favorable net after-Tax position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or
additional amounts with respect to such Tax had never been paid. This subsection shall not be construed to require the Recipient to make available its tax returns (or any other information relating to its taxes that it deems confidential) to any
Loan Party or any other Person. 
 (g) Survival. Each party’s obligations under this Section 3.01 shall survive the
resignation or replacement of the Administrative Agent or the Collateral Agent or any assignment of rights by, or the replacement of, a Lender or the L/C Issuer, the termination of the Commitments and the repayment, satisfaction or discharge of all
other Obligations. 
 Section 3.02 Illegality. 

If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender
or its Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrowers through the Administrative Agent, (a) any obligation of
such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended, and (b) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest
rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without
reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrowers that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice,
(i) the Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such
Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully
continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (ii) if such notice asserts the illegality of such Lender determining or charging
interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the Administrative
Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrowers shall also pay accrued interest on
the amount so prepaid or converted. 
  
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 Section 3.03 Inability to Determine Rates. 

If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or
continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not
exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest
Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrowers and each Lender. Thereafter, (i) the
obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, and (ii) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization
of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrowers may revoke
any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

Section 3.04 Increased Costs; Reserves on Eurodollar Rate Loans. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e)) or the L/C Issuer; 

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through
(d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 (iii) impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting this Agreement
or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing shall be to
increase the cost to such Lender of making, converting to, continuing or maintaining any Loan the interest on which is determined by reference to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost
to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by
such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrowers will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or
amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered. 
  

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 (b) Capital Requirements. If any Lender or the L/C Issuer determines that any Change in
Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of
return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or
participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved
but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the
Borrowers will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction
suffered. 
 (c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts
necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the Borrowers shall be conclusive absent manifest error. The Borrowers
shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing
provisions of this Section 3.04 shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation; provided that, the Borrowers shall not be required to compensate a Lender or the L/C Issuer
pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine (9) months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Borrowers of the
Change in Law giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the nine (9) month period referred to above shall be extended to include the period of retroactive effect thereof). 

(e) Reserves on Eurodollar Rate Loans. The Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain
reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal
to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan;
provided the Borrowers shall have received at least ten (10) days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice ten (10) days prior to the
relevant Interest Payment Date, such additional interest shall be due and payable ten (10) days from receipt of such notice. 
  

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 Section 3.05 Compensation for Losses. 

Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrowers shall promptly compensate such Lender for
and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 
 (a) any continuation, conversion, payment or
prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b) any failure by the Borrowers (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert
any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrowers; or 
 (c) any assignment of a Eurodollar Rate
Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrowers pursuant to Section 11.13; 
 including
any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrowers
shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. 
 For purposes of calculating amounts payable by
the Borrowers to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank
eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. 

Section 3.06 Mitigation Obligations; Replacement of Lenders. 

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 3.04, or requires the Borrowers to
pay any Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to
Section 3.02, then at the request of the Borrowers, such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01
or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. Each Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any
such designation or assignment. 
  
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 (b) Replacement of Lenders. If any Lender requests compensation under Section 3.04,
or if the Borrowers are required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is unable to
designate a different lending office in accordance with Section 3.06(a), the Borrowers may replace such Lender in accordance with Section 11.13. 

Section 3.07 Survival. 

All of the Borrowers’ obligations under this Article III shall survive termination of the Aggregate Commitments, repayment of all
other Obligations hereunder, resignation of the Administrative Agent and the Facility Termination Date. 
 ARTICLE IV 

CONDITIONS PRECEDENT TO CLOSING DATE AND CREDIT EXTENSIONS 

Section 4.01 Conditions Precedent to Closing Date. 

The occurrence of the Closing Date and the obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder on the
Closing Date, if applicable, is subject to the prior satisfaction of the following conditions precedent (unless waived in writing by the Administrative Agent (and, if expressly indicated hereunder, the Collateral Agent) and the Lenders in their sole
and absolute discretion: 
 (a) Execution of Credit Agreement; Loan Documents. The Administrative Agent shall have received
(i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, the Collateral Agent, the Arranger and each other party hereto, (ii) for the account of each Lender
requesting a Revolving Note, a Revolving Note executed by a Responsible Officer of the Borrowers, (iii) counterparts (or reaffirmations, as applicable) of the Security Agreement, each Mortgage and any related Mortgaged Property Support Document
(if applicable) and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other party thereto, as applicable, and (iv) counterparts (or reaffirmations, as
applicable) of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other party thereto. Each Loan Document shall be satisfactory in form and substance to the Administrative
Agent, the Collateral Agent, the Arranger and the Lenders and shall have been duly authorized, executed and delivered by the parties thereto. 

(b) Officer’s Certificate. The Administrative Agent shall have received a certificate of a Responsible Officer of each Loan Party
(in substantially the form of Exhibit J attached hereto) dated the Closing Date, attaching and certifying as true, correct and complete: (i) the Organization Documents of each Loan Party (which, to the extent filed with a
Governmental Authority, shall be certified as of a recent date by such Governmental Authority), (ii) the resolutions or other authorizations of the governing body of each Loan Party certified as being in full force and effect on the Closing
Date, authorizing the execution, delivery and performance of this Agreement and the other Loan Documents (to the extent such documents are to be executed 
  

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as of the Closing Date) and any instruments or agreements required hereunder or thereunder, (iii) a certificate of good standing, existence or its equivalent of each Loan Party certified as
of a recent date by the appropriate Governmental Authority and (iv) the incumbency (including specimen signatures) of the Responsible Officers of each Loan Party. 

(c) Legal Opinions of Counsel. The Administrative Agent shall have received an opinion or opinions of counsel for the Loan Parties,
dated the Closing Date and addressed to the Administrative Agent and the Lenders, in form and substance acceptable to the Administrative Agent. 

(d) Personal Property Collateral. The Collateral Agent shall have received, in form and substance satisfactory to the Collateral Agent
and, in the case of clause (i)(C) of this Section 4.01(d), in form and substance reasonably satisfactory to the Collateral Agent: 

(i) (A) searches of UCC filings of a recent date before the Closing Date in the jurisdiction of incorporation or formation, as applicable, of
each Loan Party and each jurisdiction where a filing would need to be made in order to perfect the Collateral Agent’s security interest in the Collateral, copies of the financing statements on file in such jurisdictions, evidence that no Liens
exist other than Permitted Liens and evidence that all Liens contemplated by the Collateral Documents to be created and perfected in favor of the Collateral Agent as of the Closing Date shall have been perfected, recorded and filed in the
appropriate jurisdictions and shall have a first priority interest in such Collateral, subject to Permitted Liens that, pursuant to the applicable Laws, are entitled to a higher priority than the Lien of the Collateral Agent, (B) lien and
bankruptcy searches of a recent date before the Closing Date and (C) judgment searches of a recent date before the Closing Date; and 

(ii) to the extent required to be delivered pursuant to the terms of the Collateral Documents, all instruments, documents and chattel paper in
the possession of any of the Loan Parties, together with allonges or assignments as may be necessary or appropriate to perfect the Collateral Agent’s and the Lenders’ security interest in the Collateral. 

(e) Liability, Property, Terrorism and Business Interruption Insurance. The Administrative Agent shall have received copies of
insurance policies (with premiums, rates and other proprietary information redacted), declaration pages as they become available, certificates, and endorsements of insurance or insurance binders (with premiums, rates and other proprietary
information redacted) in cases where insurance policies evidencing the Loan Parties’ most recent insurance programs are not yet available, evidencing liability, casualty, property, terrorism and business interruption insurance meeting the
requirements set forth herein or in the Collateral Documents or as required by the Administrative Agent. The Loan Parties shall have delivered to the Administrative Agent and the Collateral Agent an Authorization to Share Insurance Information in
substantially the form of Exhibit O (or such other form as required by each of the Loan Parties’ insurance companies). 

(f) Solvency Certificate. The Administrative Agent shall have received a Solvency Certificate signed by a Responsible Officer that is
the chief financial officer of the Borrowers, or any other financial officer of the Borrowers having substantially the same authority and responsibility as a chief financial officer, as to the financial condition, solvency and related matters of the
Borrowers and their Subsidiaries on a Consolidated basis, after giving effect to the initial borrowings under the Loan Documents and the other transactions contemplated hereby. 

 
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 (g) Financial Condition Certificate. The Administrative Agent shall have received a
certificate or certificates executed by a Responsible Officer of the Borrowers as of the Closing Date, as to certain financial and other matters, substantially in the form of Exhibit N. 

(h) Material Contracts. The Administrative Agent or its counsel shall have received true and complete copies, certified by a
Responsible Officer of the Borrowers as true and complete, of all Material Contracts, together with all exhibits and schedules. 
 (i)
Loan Notice. The Administrative Agent shall have received a Loan Notice with respect to any Loans to be made on the Closing Date. 

(j) Existing Indebtedness. All of the existing Indebtedness for borrowed money of the Borrowers and their Subsidiaries (other than
Excluded Subsidiaries), including the Existing Credit Agreement and other than Indebtedness permitted to exist pursuant to Section 7.02, shall be repaid in full with the proceeds of the Facility, all commitments (if any) in respect thereof
shall be terminated and all guarantees (if any) thereof and all security interests related thereto shall be terminated on or prior to the Closing Date, and the Administrative Agent shall have received evidence reasonably satisfactory to it of the
same. After giving effect to the foregoing and the initial borrowings under this Agreement, the Borrowers and their Subsidiaries (other than the Excluded Subsidiaries) shall have outstanding no Indebtedness other than (x) the Credit Extensions
under the Facility and (y) other Indebtedness permitted to exist under this Agreement. 
 (k) Consents. All consents and
approvals of the governing bodies and equity owners of the Loan Parties, Governmental Authorities and third parties necessary in connection with the entering into of this Agreement and the other Loan Documents shall have been obtained. 

(l) Fees and Expenses. The Administrative Agent, the Collateral Agent, the Lenders and their respective counsel and consultants shall
have received all fees and expenses (including, but not limited to, the fees pursuant to the Fee Letter and Section 2.08) required to be paid to or deposited with such parties hereunder, and under any other separate agreement with such parties,
and all taxes, fees and other costs payable in connection with the execution, delivery and filing of the documents and instruments required to be filed as a condition precedent pursuant to this Section 4.01, shall have been paid, or will be
paid concurrently on the Closing Date, in full, or, in connection with such taxes, fees (other than fees payable to the Lenders, the Administrative Agent or the Collateral Agent) and costs, the Borrowers shall have made other arrangements acceptable
to the Administrative Agent, the Collateral Agent or the Lenders in their respective sole discretion. 
 (m) Borrowing Base
Certificate. The Administrative Agent, the Collateral Agent and the Lenders shall have received a completed Borrowing Base Certificate together with a Back-Log Spreadsheet and a Take-Out Spreadsheet and other supporting information, each
prepared as of the Closing Date, duly certified by the chief executive officer, chief financial officer, treasurer or controller of the Borrowers or other such Responsible Officer authorized in writing to execute the Borrowing Base Certificate by
one of the aforementioned Persons. 
  
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 (n) Financial Statements. The Administrative Agent and the Lenders shall have received
(i) U.S. GAAP audited Consolidated balance sheets of Sunrun and related statements of income, stockholders’ equity and cash flows for the 2012, 2013 and 2014 fiscal years (and, to the extent available, the related unaudited consolidating
financial statements) and (ii) U.S. GAAP unaudited consolidated and (to the extent available) consolidating balance sheets of Sunrun and related statements of income, stockholders’ equity and cash flows for each subsequent fiscal quarter
ended at least forty-five (45) days before the Closing Date, which financial statements, in each case, shall be in form and substance satisfactory to the Administrative Agent and the Lenders and shall not be materially inconsistent with the
financial statements or forecasts previously provided to the Administrative Agent. 
 (o) PATRIOT Act. The Administrative Agent and
the Lenders shall have received, at least five (5) Business Days prior to the Closing Date, all such documentation and information requested by each of them that is necessary (including the name and addresses of the Loan Parties, taxpayer
identification forms, name of officers/board members, documents and copies of government-issued identification of the Loan Parties or owners thereof) for the Administrative Agent and the Lenders to identify the Loan Parties in accordance with the
requirements of the PATRIOT Act (including the “know your customer” and similar regulations thereunder). 
 (p) FPA and PUHCA
Litigation. No action, suit, proceeding or investigation shall have been instituted or, to the Loan Parties’ knowledge, threatened in writing, nor shall any order, judgment or decree have been issued or, to the Loan Parties’ knowledge,
proposed to be issued by any Governmental Authority that, solely as a result of entering into the Loan Documents, would cause or deem (i) the Administrative Agent, the Collateral Agent or any Lender or any Affiliate of any of them to be subject
to, or not exempted from, regulation under the FPA or PUHCA, any financial, organizational or rate regulation as a “public utility” under relevant state laws, or under any other state laws and regulations respecting the rates or the
financial or organizational regulation of electric utilities; or (ii) the Borrowers to be subject to, or not exempted from, regulation under the FPA, any financial, organizational or rate regulation as a “public utility” under
relevant state laws, under any other state laws and regulations respecting the rates or the financial or organizational regulation of electric utilities and under PUHCA, other than regulation under Section 1265 of PUHCA and regulations
applicable to “exempt wholesale generators” or “foreign utility companies” under Section 1262(6) of PUHCA. 
 (q)
No Material Adverse Effect. There shall not have occurred since December 31, 2013 any event or condition that has had or could be reasonably expected, either individually or in the aggregate, to have a Material Adverse Effect. 

(r) Representations and Warranties. Each representation and warranty set forth in Article V is true and correct in all respects on
the Closing Date (unless such representation or warranty relates solely to an earlier date, in which case it shall have been true and correct in all respects as of such earlier date). 

(s) No Default. No Default has occurred and is continuing. 

(t) No Litigation. Other than as set forth on Schedule 4.01(t), no action, suit, proceeding or investigation that could
reasonably be expected to have a Material Adverse Effect shall have been instituted or, to the knowledge of the Loan Parties, threatened in writing against any of the Loan Parties in any court or before any arbitrator or Governmental Authority. 

 
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 (u) Other Documents. Such other documents as the Administrative Agent, the Collateral
Agent and the Lenders shall reasonably request, in form and substance satisfactory to the Administrative Agent, the Collateral Agent and the Lenders, if the Administrative Agent, the Collateral Agent or the Lenders have a reasonable concern that any
condition precedent in this Section 4.01 has not been satisfied, including a breach of any covenant or representation and warranty in this Agreement. 

Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the conditions
specified in this Section, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 

Section 4.02 Conditions to all Credit Extensions. 

The obligation of each Lender and the L/C Issuer to honor any Request for Credit Extension is subject to the following conditions precedent:

 (a) Representations and Warranties. The representations and warranties of the Borrowers and each other Loan Party contained in
this Agreement or any other Loan Document, shall (i) with respect to representations and warranties that contain a materiality qualification, be true and correct in all respects, and (ii) with respect to representations and warranties that
do not contain a materiality qualification, be true and correct in all material respects, in each case, on and as of the date of such Credit Extension (or if such representations and warranties expressly relate to an earlier date, as of such earlier
date), and except that for purposes of this Section 4.02, the representations and warranties contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and
(b), respectively. The Loan Parties shall have delivered to the Administrative Agent a Schedule (updated for changes since the last such Schedule delivered to the Administrative Agent), with any material and adverse modifications to such previously
delivered Schedule subject to the approval of the Administrative Agent. For all purposes of this Agreement, including for purposes of determining whether the conditions in Article IV have been fulfilled, the Schedules shall be deemed to include only
that information contained therein on the date hereof and shall be deemed to exclude all information contained in any supplement or amendment to the Schedules, but if acknowledged by the Administrative Agent, then all matters disclosed pursuant to
any such supplement or amendment at the applicable date of acknowledgement shall be waived and none of the Secured Parties shall be entitled to make a claim thereon pursuant to the terms of this Agreement. 

(b) Default; Borrowing Base Deficiency. No Default or Borrowing Base Deficiency shall exist as of the date of such Credit Extension, or
would result from such proposed Credit Extension or from the application of the proceeds thereof. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
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 (c) Request for Credit Extension. The Administrative Agent and, if applicable, the L/C
Issuer shall have received a Request for Credit Extension in accordance with the requirements hereof. 
 (d) Collateral. To the
extent not previously delivered to the Collateral Agent in connection with the Closing Date or a prior Credit Extension, as the case may be, duly executed additional Collateral Documents, if any, in connection with the requested Credit Extension
shall be delivered to the Collateral Agent. All Liens contemplated by such Collateral Documents to be created and perfected in favor of the Collateral Agent shall have been perfected, recorded and filed in the appropriate jurisdictions. 

(e) Material Adverse Effect. Both immediately prior to the making of any Credit Extension and also after giving effect to, and to the
intended use of, such Credit Extension, no Material Adverse Effect shall have occurred or is continuing since the date of the last Audited Financials. 

(f) Field Examination. A field examination shall have been conducted on behalf of the Collateral Agent with results reasonably
satisfactory to the Collateral Agent. 
 Each Request for Credit Extension submitted by the Borrowers shall be deemed to be a representation and warranty
that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

Each Loan Party represents and warrants to the Administrative Agent, the Collateral Agent and the Lenders, as of the date made or deemed made,
that: 
 Section 5.01 Existence, Qualification and Power. 

Each Loan Party (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction
of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute,
deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.
The copy of the Organization Documents of each Loan Party provided to the Administrative Agent pursuant to the terms of this Agreement is a true and correct copy of each such document, each of which is valid and in full force and effect. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 Section 5.02 Authorization; No Contravention. 

The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is or is to be a party have been duly
authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) cause conflict with, or result in any breach or contravention
of, any Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries that could reasonably be expected to have a Material Adverse Effect; (c) result in the creation
of any Lien under, or require any payment to be made under, (i) any Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any order, injunction,
writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (d) violate any Law. 

Section 5.03 Governmental Authorization; Other Consents. 

No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other
Person is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, (b) the grant by any Loan Party of the Liens granted by
it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the first priority nature thereof) or (d) the exercise by the Administrative Agent or any Lender of
its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents, other than (i) authorizations, approvals, actions, notices and filings which have been duly obtained and (ii) filings to
perfect the Liens created by the Collateral Documents. 
 Section 5.04 Binding Effect. 

This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party
that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principals of equity. 

Section 5.05 Financial Statements; No Material Adverse Effect. 

(a) Audited Financial Statements. The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrowers and their Subsidiaries as of the date thereof and their results of operations for the period
covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the
Borrowers and their Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
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 (b) Quarterly Financial Statements. The most recently delivered unaudited Consolidated and
consolidating balance sheets of Sunrun, and the related Consolidated and consolidating statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with
GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the Borrowers and their Subsidiaries as of the date thereof and their results of
operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c) Undisclosed Liabilities. No Borrower or any Subsidiary thereof has any direct or contingent material liabilities that are required
to be disclosed pursuant to GAAP, except as has been disclosed in the financial statements described in this Section 5.05(a) and (b) or otherwise disclosed in writing to the Administrative Agent prior to the date hereof. 

(d) Material Adverse Effect. Since the date of the Audited Financial Statements (and, in addition, after delivery of the most recent
annual audited financial statements of Sunrun in accordance with the terms hereof, since the date of such annual audited financial statements), there has been no event or circumstance, either individually or in the aggregate, that has had or could
reasonably be expected to have a Material Adverse Effect. 
 Section 5.06 Litigation. 

Except as set forth on Schedule 5.06, there are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the
Loan Parties after due inquiry, threatened or contemplated, at law, in equity, in court or arbitration or before any Governmental Authority, by or against any Borrower or any Subsidiary thereof or against any of their properties or revenues that
(a) purport to materially affect this Agreement or any other Loan Document or any of the transactions contemplated hereby, or (b) either individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. 

Section 5.07 No Default or Borrowing Base Deficiency. 

Neither any Borrower nor any Subsidiary thereof is in default under or with respect to, or a party to, any Contractual Obligation that could,
either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan
Document. No Borrowing Base Deficiency exists or would result from the consummation of the transactions contemplated by this Agreement. 

Section 5.08 Ownership of Property. 

Each Loan Party has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in
the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 Section 5.09 Environmental Compliance. 

(a) The Borrowers and their respective Subsidiaries conduct in the ordinary course of business a review of the effect of existing Environmental
Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Borrowers and their Subsidiaries have concluded that such
Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b)
(i) None of the properties currently or formerly owned or operated by any Borrower or any of its Subsidiaries is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such
property; (ii) there are no and never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on
any property currently owned or operated by any Borrower or any of its Subsidiaries or, to the knowledge of the Loan Parties, on any property formerly owned or operated by any Borrower or any of its Subsidiaries; (iii) there is no asbestos or
asbestos-containing material on any property currently owned or operated by any Borrower or any of its Subsidiaries; and (iv) Hazardous Materials have not been Released on, under, in or from any property currently or formerly owned or operated
by any Borrower or any of its Subsidiaries. 
 (c) Neither any Borrower nor any of its Subsidiaries is undertaking, or has completed, either
individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened Release, of Hazardous Materials at any site, location or operation that would
reasonably be expected to have a Material Adverse Effect; all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Borrower or any of its
Subsidiaries have been disposed of in a manner not reasonably expected to result in material liability to any Borrower or any of its Subsidiaries; and Borrower or any of its Subsidiaries have not received any request for information pursuant to
Section 104(e) of CERCLA. 
 Section 5.10 Insurance. 

The properties of the Loan Parties are insured with an independent third-party insurer that is rated at least “A” by A.M. Best
Company , in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar
properties in localities where the applicable Loan Party operates. The general liability, casualty and property insurance coverage of the Loan Parties as in effect on the Closing Date, and as of the last date such Schedule was required to be updated
in accordance with Section 6.07, is outlined as to carrier, policy number, expiration date, type, amount and deductibles on Schedule 5.10 and such insurance coverage complies with the requirements set forth in this Agreement and the
other Loan Documents. 
  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 Section 5.11 Taxes. 

Each Loan Party has filed all federal, state and other material tax returns and filings required to be filed and has paid all federal, state
and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings
diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no proposed tax assessment against any Loan Party that would, if made, have a Material Adverse Effect, nor is there any tax sharing agreement
applicable to the Loan Parties that could reasonably be expected to result in a Material Adverse Effect. 
 Section 5.12 ERISA
Compliance. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and
other federal or state laws. Each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter or is subject to a favorable opinion letter from the IRS to the effect that the form
of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an application for such
a letter is currently being processed by the IRS. To the knowledge of the Loan Parties, nothing has occurred that would prevent or cause the loss of such tax-qualified status. 

(b) There are no pending or, to the knowledge of the Loan Parties, threatened claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could
reasonably be expected to result in a Material Adverse Effect. 
 (c) (i) No ERISA Event has occurred, and no Loan Party nor any ERISA
Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Loan Parties and each ERISA Affiliate have met all applicable
requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any
Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and no Loan Party or any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause
the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) no Loan Party or any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and
there are no premium payments which have become due that are unpaid; (v) neither the Loan Parties nor any ERISA Affiliate have engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and
(vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of
ERISA to terminate any Pension Plan. 
  
 [***] Confidential treatment has been
requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 (d) Neither the Loan Parties nor any ERISA Affiliate sponsors, maintains, participates in,
contributes to, or has any unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan or Multiemployer Plan. 

Section 5.13 Margin Regulations; Investment Company Act. 

(a) Margin Regulations. The Loan Parties are not engaged and will not engage, principally or as one of their important activities, in
the business of purchasing or carrying margin stock (within the meaning of Regulations T, U or X issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each
Borrowing or drawing under each Letter of Credit, not more than 25% of the value of the assets (either of the Borrowers only or of the Borrowers and their Subsidiaries on a Consolidated basis) subject to the provisions of Section 7.01 or
Section 7.05 or subject to any restriction contained in any agreement or instrument between any Loan Party and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of Section 8.01(e) will be margin stock.

 (b) Investment Company Act. None of the Borrowers, any Person Controlling the Borrowers, or any Subsidiary of the Borrowers is or
is required to be registered as an “investment company” under the Investment Company Act. 
 Section 5.14 Disclosure.

 The Loan Parties have disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other
restrictions to which it or any of its Subsidiaries or any other Loan Party 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. No report,
financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of
this Agreement or delivered hereunder or under any other Loan Document (in each case as modified or supplemented by other information so furnished) 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 misleading; provided that, with respect to projected financial information, each Loan Party represents only that such information was prepared in good faith
based upon assumptions believed to be reasonable at the time. 
 Section 5.15 Compliance with Laws. 

Each Borrower and each Subsidiary thereof is in compliance with the requirements of all Laws, including, without limitation, all Anti-Terrorism
Laws and Environmental Laws, and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good
faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 Section 5.16 Solvency. 

The Borrowers, together with their Subsidiaries, on a Consolidated basis are Solvent. 

Section 5.17 Casualty, Etc. 

Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire, explosion, accident, strike,
lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could reasonably be expected to have
a Material Adverse Effect. 
 Section 5.18 Sanctions Concerns. 

No Borrower, or any Subsidiary thereof, or, to the knowledge of the Borrowers and their Subsidiaries, any director, officer, employee, agent,
Affiliate or representative thereof, is an individual or entity currently the subject of any Sanctions, nor is any Borrower or any Subsidiary thereof located, organized or resident in a Designated Jurisdiction. 

Section 5.19 Responsible Officers. 

Set forth on Schedule 1.01(c) are the Responsible Officers of the Loan Parties, holding the offices indicated next to their
respective names, as of the Closing Date and as updated thereafter to reflect the resignation of any Responsible Officer or the appointment of any replacement or additional Responsible Officer subsequent thereto. Such Responsible Officers are the
duly elected and qualified officers of such Loan Party and are duly authorized to execute and deliver, on behalf of the respective Loan Party, this Agreement, the Revolving Notes and the other Loan Documents. 

Section 5.20 Subsidiaries; Equity Interests; Loan Parties. 

(a) Subsidiaries, Partnerships and Equity Investments. Set forth on Schedule 5.20(a) is the following information which is
true and complete in all respects as of the Closing Date and as updated thereafter to reflect the formation or acquisition of any additional Subsidiary, Project Fund, Excluded Subsidiary, partnership or other equity investment of the Loan Parties
subsequent thereto: (i) a complete and accurate list of all Subsidiaries, Project Funds, Excluded Subsidiaries, partnerships and other equity investments of the Loan Parties, (ii) the number of shares of each class of Equity Interests in
each Subsidiary outstanding, (iii) the number and percentage of outstanding shares of each class of Equity Interests owned by the Loan Parties and their Subsidiaries and (iv) the class or nature of such Equity Interests (e.g., voting,
non-voting, preferred, etc.). The outstanding Equity Interests in all Subsidiaries are validly issued, fully paid and non-assessable and are owned free and clear of all Liens. There are no outstanding subscriptions, options, warrants, calls, rights
or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying shares) of any nature relating to the Equity Interests of any Loan Party, except as contemplated in connection with the
Loan Documents. 
  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 (b) Loan Parties. Set forth on Schedule 5.20(b) is a complete and accurate
list of all Loan Parties, showing as of the Closing Date, and as updated thereafter to reflect the formation or acquisition of any additional Loan Party subsequent thereto, (as to each Loan Party) (i) the exact legal name, (ii) any former
legal names of such Loan Party in the four (4) months prior to the Closing Date or update, as applicable, (iii) the jurisdiction of its incorporation or organization, as applicable, (iv) the type of organization, (v) the
jurisdictions in which such Loan Party is qualified to do business, (vi) the address of its chief executive office, (vii) the address of its principal place of business, (viii) its U.S. federal taxpayer identification number or,
in the case of any non-U.S. Loan Party that does not have a U.S. taxpayer identification number, its unique identification number issued to it by the jurisdiction of its incorporation or organization, (ix) the organization
identification number, (x) ownership information (e.g., publicly held or if private or partnership, the owners and partners of each of the Loan Parties) and (xi) the industry or nature of business of such Loan Party. 

Section 5.21 Collateral Representations. 

(a) Collateral Documents. The provisions of the Collateral Documents and the filings of any necessary UCC filings are collectively
effective to create in favor of the Collateral Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Permitted Liens) on all right, title and interest of the respective Loan Parties in the
Collateral described therein. Except for filings completed prior to the Closing Date and as contemplated hereby and by the Collateral Documents, no filing or other action will be necessary to perfect or protect such Liens to the extent such Liens
can be perfected by filing of a UCC filing. 
 (b) [Reserved]. 

(c) Documents, Instrument, and Tangible Chattel Paper. Set forth on Schedule 5.21(c), as of the Closing Date and as updated
thereafter to reflect the acquisition of Collateral subsequent thereto, is a description of all Documents (as defined in the UCC), Instruments (as defined in the UCC), and Tangible Chattel Paper (as defined in the UCC) of the Loan Parties (including
the Loan Party owning such Document, Instrument and Tangible Chattel Paper and such other information as reasonably requested by the Administrative Agent), in each case, with a face amount in excess of $1,000,000. 

(d) Deposit Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, and Securities Accounts. 

(i) Set forth on Schedule 5.21(d)(i), as of the Closing Date and as updated thereafter to reflect the acquisition of Collateral
subsequent thereto, is a description of all Deposit Accounts (as defined in the UCC) and Securities Accounts (as defined in the UCC) of the Loan Parties, including the name of (A) the applicable Loan Party, (B) in the case of a Deposit
Account, the depository institution and average amount held in such Deposit Account and whether such account is a ZBA account or a payroll account, and (C) in the case of a Securities Account, the Securities Intermediary (as defined in the UCC)
or issuer and the average aggregate market value held in such Securities Account, as applicable. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
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 (ii) Set forth on Schedule 5.21(d)(ii), as of the Closing Date and as updated
thereafter to reflect the acquisition of Collateral subsequent thereto, is a description of all Electronic Chattel Paper and Letter of Credit Rights of the Loan Parties, including the name of (A) the applicable Loan Party, (B) in the case
of Electronic Chattel Paper, the account debtor and (C) in the case of Letter-of-Credit Rights, the issuer or nominated person, as applicable. 

(e) Commercial Tort Claims. Set forth on Schedule 5.21(e), as of the Closing Date and as updated thereafter to reflect the
acquisition of Collateral subsequent thereto, is a description of all Commercial Tort Claims (as defined in the UCC) for which the Loan Parties are a claimant (detailing such Commercial Tort Claim in such detail as reasonably requested by the
Administrative Agent). 
 (f) Pledged Equity Interests. Set forth on Schedule 5.21(f), as of the Closing Date and as
updated thereafter to reflect the acquisition of Collateral subsequent thereto, is a list of (i) all Pledged Equity and (ii) all other Equity Interests required to be pledged to the Collateral Agent pursuant to the Collateral Documents (in
each case, detailing the Grantor (as defined in the Security Agreement), the Person whose Equity Interests are pledged, the number of shares of each class of Equity Interests, the certificate number and percentage ownership of outstanding shares of
each class of Equity Interests and the class or nature of such Equity Interests (e.g., voting, non-voting, preferred, etc.). 
 (g)
Properties. Set forth on Schedule 5.21(g)(i), as of the Closing Date and as updated thereafter to reflect the acquisition of Collateral subsequent thereto, is a list of all Mortgaged Properties (including (i) the name of the
Loan Party owning such Mortgaged Property, (ii) the number of buildings located on such Mortgaged Property, (iii) the property address, and (iv) the city, county, state and zip code which such Mortgaged Property is located). Set forth
on Schedule 5.21(g)(ii), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02, is a list of (A) each headquarter location of the Loan Parties, (B) each
other location where any significant administrative or governmental functions are performed, (C) each other location where the Loan Parties maintain any books or records (electronic or otherwise) and (D) each location where any personal
property Collateral is located at any premises owned or leased by a Loan Party with a Collateral value in excess of $1,000,000 (in each case, including (1) an indication if such location is leased or owned, (2), if leased, the name of the
lessor, and if owned, the name of the Loan Party owning such property, (3) the address of such property (including, the city, county, state and zip code) and (4) to the extent owned, the approximate fair market value of such property).

 (h) Material Contracts. Set forth on Schedule 5.21(h), as of the Closing Date and as updated thereafter to reflect the
entering into of any Material Contract subsequent thereto, is a complete and accurate list of all Material Contracts of the Borrowers and their Subsidiaries. 

(i) Borrowing Base Certificate. All information and calculations set forth on each Borrowing Base Certificate delivered to the
Administrative Agent and the Collateral Agent pursuant to Section 6.02(m) are true and correct as of the date reflected therein. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
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 Section 5.22 Intellectual Property; Licenses, Etc. 

Each Loan Party owns, or possesses the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights,
franchises, licenses and other Intellectual Property rights that are necessary for the operation of their respective businesses, without conflict with the rights of any other Person. To the knowledge of the Loan Parties, no slogan or other
advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by any Loan Party infringes upon any rights held by any other Person. 

Section 5.23 Labor Matters. 

There are no collective bargaining agreements or Multiemployer Plans covering the employees of the Borrowers or any of their Subsidiaries as of
the Closing Date and the Borrowers and their Subsidiaries have not suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last five (5) years preceding the Closing Date, which has resulted in a Material
Adverse Effect. 
 Section 5.24 [Reserved]. 

Section 5.25 Immaterial Subsidiaries. 

Each of the Borrowers’ Immaterial Subsidiaries has no material assets or material liabilities. 

Section 5.26 Government Regulation. 

(a) None of the Administrative Agent, the Collateral Agent, the Lenders or any affiliate of any of them will, solely as a result of the
execution, delivery and performance by them of the Loan Documents, be subject to, or not exempt from, regulation under the FPA or PUHCA, or financial, organizational or rate regulation as a “public utility,” an “electric
utility,” a “holding company” or similar term(s) under any applicable state law or any other laws and regulations respecting the rates or the financial or organizational regulation of electric utilities; provided that
(A) the exercise of any remedy provided for in such Loan Documents that would result in a direct or indirect change in ownership of or control over either any Loan Party or its respective FERC jurisdictional facilities may require prior
approval by FERC under Section 203 of the FPA; and (B) following such change in ownership or control, an entity that directly or indirectly owns or controls such Loan Party, or owns or operates one or more of the Projects, may be subject
to regulation under the FPA, PUHCA, or to state law or regulation as a “public utility”. 
 (b) None of the Loan Parties is and
will not, solely as a result of the ownership or operation of the Projects, the sale of electricity therefrom or the entering into any Loan Document or any transaction contemplated hereby or thereby, be or become subject to, or not exempt from,
regulation as a (A) a “public utility” under the FPA, or (B) a “holding company” within the meaning of Section 1262(8) of PUHCA other than as a “holding company” of one or more QFs, “exempt wholesale
generators” or “foreign utility companies” under Section 1262(6) of PUHCA. None of the Loan Parties is subject to regulation under any Law as to securities, 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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rates or financial or organizational matters of electric utilities that would preclude the incurrence or repayment of the principal of or interest on any Loans, or the incurrence by the Loan
Parties of any of the Obligations or the execution, delivery and performance by such Person of the Loan Documents to which it is party. None of the Loan Parties is subject to financial, organizational or rate regulation as a “public
utility,” “electric utility,” or similar term, by public utilities commissions or similar agencies in the relevant state. No authorization, approval, certification, notice or filing is required by or with FERC or the public utility
commissions or similar agencies in the relevant state for the execution and delivery of the Loan Documents, the consummation of the transactions contemplated by the Loan Documents or the performance of obligations under the Loan Documents, except
for any filings with or approvals by FERC required to obtain or maintain the QF status of a Project, and except as may be required as the result of the exercise of remedies under the Loan Documents. 

Section 5.27 Anti-Terrorism Laws. 

None of the Borrowers and their Subsidiaries and, to the knowledge of the Borrowers and their Subsidiaries, any director, officer, employee,
agent, Affiliate or representative thereof (i) is named on any list of persons, entities, and governments issued by OFAC pursuant to Executive Order 13224 – Blocking Property and Prohibiting Transactions with Persons Who Commit,
Threaten to Commit, or Support Terrorism, as in effect on the date hereof, or any similar list issued by OFAC (collectively, the “OFAC Lists”); (ii) is a person or entity determined by the Secretary of the Treasury pursuant to
Executive Order 13224 to be owned by, controlled by, acting for or on behalf of, providing assistance, support, sponsorship, or services of any kind to, or otherwise associated with any of the persons or entities referred to or described in the
OFAC Lists. None of the Borrowers and their Subsidiaries, to each of their knowledge, has conducted business with or engaged in any transaction with any person or entity identified in clause (i) or (ii) of the preceding sentence or
otherwise in violation of any Anti-Terrorism Laws. 
 Section 5.28 PATRIOT Act. 

None of the transactions contemplated hereby will violate (i) the United States Trading with the Enemy Act (12 U.S.C. 95a and 12
U.S.C. 95b, as amended), (ii) any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto (as
amended, the “Department of Treasury Rule”), (iii) Executive Order No. 13,224, 66 Fed Reg 49,079 (2001), issued by the President of the United States (Executive Order Blocking Property and Prohibiting Transactions with
Persons Who Commit, Threaten to Commit or Support Terrorism) (as amended, the “Terrorism Order”) or (iv) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT
ACT) Act of 2001, Public Law 107-56 (October 26, 2001), as amended (the “PATRIOT Act”); (ii) none of the Borrowers and their Subsidiaries and Affiliates is a “blocked person” as described in
Section 1 of the Terrorism Order or a Person described in the Department of the Treasury Rule; and (iii) none of the Borrowers and their Subsidiaries and Affiliates knowingly engages in any dealings or transactions, or is otherwise
associated, with any such “blocked person” or any such Person described in the Department of Treasury Rule. 
  

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the Securities and Exchange Commission. 

  
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 Section 5.29 No Ownership/Use by Disqualified Persons. 

No Borrower or any of its Subsidiaries that directly or indirectly holds an interest in a Project for which an ITC or accelerated depreciation
is included in the Borrowing Base is a Disqualified Person. No Project for which an ITC or accelerated depreciation is included in the Borrowing Base will be used within the meaning of Section 168(h) or Section 50 of the Code by a person
described in Section 168(h)(2) of the Code (including by virtue of Section 168(h)(6)(F) of the Code) or Section 50(b)(3) or (4) of the Code. 

Section 5.30 Partnerships and Joint Ventures. 

None of the Loan Parties is a general partner or a limited partner in any general or limited partnership, a joint venturer in any joint venture
or a member in any limited liability company other than any other Loan Party or Excluded Subsidiary. 
 Section 5.31 Consumer
Protection. 
 All required disclosures, consents, approvals, filings and permissions relating to consumer finance
transactions and required of any Loan Party shall have been made or obtained with respect to each Project, except for those which would not individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.32 Hawaii Tax Credits. 

The Hawaii Tax Credit is in full force and effect or all amounts in respect of Hawaii Tax Credit have been excluded from the Borrowing Base.
The related Excluded Subsidiary, Tax Equity Investor, Borrower or other Subsidiary is the entity that is entitled to claim the Hawaii Tax Credit with respect to each of the Projects and solar installations for which a Credit Extension is requested
hereunder. There is no Law, Contractual Obligation or provision contained in any applicable constitutional document that prohibits any Excluded Subsidiary, Project Fund or Tax Equity Investor from directing the proceeds of such rebates or tax
credits to any Borrower (by distribution or otherwise) or, upon the occurrence and during the continuance of an Event of Default, to the Administrative Agent, and any related Account identified by a Borrower as an Eligible Hawaii Tax Credit
Receivable is not (a) subject to any known defenses, disputes, offsets, contra accounts or counterclaims, (b) subject to any Lien or any transfer or other restrictions which could reasonably be expected to prohibit, hinder or delay
distribution of the amounts represented by such Account to a Borrower or (c) excluded as ineligible by virtue of one or more of the excluding criteria (other than any Administrative Agent-discretionary criteria) set forth in the definition of
Eligible Hawaii Tax Credit Receivables. 
 Section 5.33 Host Customer Agreements. 

As to each Account that is identified by a Borrower as an Eligible Customer Upfront Payment Receivable in a Borrowing Base Certificate
submitted to the Administrative Agent and the Collateral Agent, such Account is (a) to the knowledge of such Borrower, a bona fide existing payment obligation of the applicable Account Debtor created pursuant to an enforceable Host Customer
Agreement in the ordinary course of business, (b) owed to the applicable Excluded Subsidiary without any known defenses, disputes, offsets, contra accounts, 
  

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counterclaims, or rights of return or cancellation, (c) subject to no Liens and to no transfer or other restrictions which could reasonably be expected to prohibit, hinder or delay
distribution of the amounts represented by such Account to a Borrower and (d) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Collateral Agent-discretionary criteria) set forth in the definition of
Eligible Customer Upfront Payment Receivables, except for those which would not individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.34 Permits. 

All Applicable Permits necessary for each Project are either (i) in full force and effect or (ii) of a type that are readily obtained
before such Applicable Permit is required. The Loan Parties do not have any reason to believe that any material permit of the type referred to in clause (ii) above will not be obtained in due course before it becomes an Applicable Permit. None
of the Loan Parties is in violation of any Applicable Permit which violation could reasonably be expected to (A) have a Material Adverse Effect on the Loan Parties or a Project or (B) constitute a default under a Host Customer Agreement.
To each Loan Party’s knowledge, after due inquiry, each counterparty to a Host Customer Agreement possesses all permits, or rights thereto necessary to perform its duties under such Host Customer Agreement to which it is a party, other than
those of the type that are routinely granted on application and that would not normally be obtained before the commencement of a construction or reconstruction, and, to each Loan Party’s knowledge, such party is not in violation of any valid
rights of others with respect to any of the foregoing. 
 Section 5.35 Senior Indebtedness. 

The Secured Obligations constitute senior debt and sole designated senior debt under all Subordinated Debt Documents. 

ARTICLE VI 
 AFFIRMATIVE
COVENANTS 
 Each of the Loan Parties hereby covenants and agrees that on the Closing Date and thereafter until the Facility Termination
Date, such Loan Party shall, and shall cause each of their Subsidiaries to: 
 Section 6.01 Financial Statements. 

Deliver to the Administrative Agent for distribution to each Lender, in form and detail satisfactory to the Administrative Agent and the
Lenders: 
 (a) Audited Financial Statements. As soon as available, but in any event within one hundred twenty (120) days after
the end of each fiscal year of Sunrun, a Consolidated balance sheet of Sunrun as at the end of such fiscal year, and the related Consolidated statements of income or operations, changes in shareholders’ equity and cash flows of Sunrun for such
fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such Consolidated statements to be 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
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audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Administrative Agent, which report and
opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit. 

(b) Quarterly Financial Statements. As soon as available, but in any event within sixty (60) days after the end of each fiscal
quarter of Sunrun (including the fourth fiscal quarter of each fiscal year): 
 (i) A Consolidated and consolidating balance sheet of Sunrun
as at the end of such fiscal quarter, and the related Consolidated and consolidating statements of income or operations, changes in shareholders’ equity and, only in connection with such Consolidated statements, cash flows for such fiscal
quarter and for the portion of Sunrun’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal
year, all in reasonable detail and prepared in accordance with GAAP and including management discussion and analysis of operating results inclusive of operating metrics in comparative form, such Consolidated statements to be certified by the chief
executive officer, chief financial officer, treasurer or controller who is a Responsible Officer of Sunrun as fairly presenting the financial condition, results of operations, shareholders’ equity and cash flows of Sunrun, subject only to
normal year-end audit adjustments and the absence of footnotes and such consolidating statements to be certified by the chief executive officer, chief financial officer, treasurer or controller that is a Responsible Officer of Sunrun to the effect
that such statements are fairly stated in all material respects when considered in relation to the Consolidated financial statements of Sunrun. 

(c) Megawatts Booked, Installed, Inspected and Terminated. As soon as available, but in any event within sixty (60) days after the
end of each of the fiscal quarters of each fiscal year of the Borrowers, (i) an internally prepared income statement, reflecting megawatts booked, installed and inspected for such fiscal quarter and (ii) a report of megawatts terminated
for such fiscal quarter. 
 As to any information contained in materials furnished pursuant to Section 6.02(g), the Borrowers shall not be separately
required to furnish such information under Section 6.01(a) or (b), provided that the materials furnished pursuant to Section 6.02(g) are delivered to the Administrative Agent within the times specified in Section 6.01(a) or (b), as
applicable. 
 Section 6.02 Certificates; Other Information. 

Deliver to the Administrative Agent for distribution to each Lender (and, in the case of Section 6.02(m), to the Collateral Agent), in
form and detail satisfactory to the Administrative Agent and the Required Lenders (and, in the case of Section 6.02(m), the Collateral Agent): 

(a) Accountants’ Certificate. Concurrently with the delivery of the financial statements referred to in Section 6.01(a), a
certificate of its independent certified public accountants certifying such financial statements. 
  

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 (b) Compliance Certificate. Concurrently with the delivery of the financial statements
referred to in Sections 6.01(a) and (b), (i) a duly completed Compliance Certificate signed by the chief executive officer, chief financial officer, treasurer or controller which is a Responsible Officer of Sunrun, and in the event of any
change in generally accepted accounting principles used in the preparation of such financial statements, Sunrun shall also provide, if necessary for the determination of compliance with Section 7.11, a statement of reconciliation conforming
such financial statements to GAAP, and (ii) a copy of management’s discussion and analysis with respect to such financial statements. 

(c) [Reserved]. 
 (d)
Calculations. Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(b) required to be delivered with the financial statements referred to in Section 6.01(a), a certificate from the Borrowers (which
may be included in such Compliance Certificate) including the amount of all Restricted Payments, Investments (including Permitted Acquisitions), Dispositions and Capital Expenditures that were made during the prior fiscal year. 

(e) Changes in Corporate Structure. Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(b),
the Borrowers will provide notice of any change in corporate structure of any Loan Party (including by merger, consolidation, dissolution or other change in corporate structure) to the Administrative Agent, along with such other information as
reasonably requested by the Administrative Agent. Provide notice to the Administrative Agent, not less than ten (10) days prior (or such extended period of time as agreed to by the Administrative Agent) of any change in any Loan Party’s
legal name, state of organization, or organizational existence. 
 (f) [Reserved]. 

(g) Annual Reports; Etc. Promptly after the same are available, copies of each annual report, proxy or financial statement or other
report or communication sent to the stockholders of Sunrun, and copies of all annual, regular, periodic and special reports and registration statements which Sunrun may file or be required to file with the SEC under Section 13 or 15(d) of
the Exchange Act, or with any national securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto. 

(h) Debt Securities Statements and Reports. Promptly after the furnishing thereof, copies of any statement or report furnished to any
holder of debt securities of any Loan Party pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this Section. 

(i) [Reserved]. 
 (j)
Notices. Not later than five (5) Business Days after receipt thereof by any Loan Party, copies of all notices, requests and other documents (including amendments, waivers and other modifications) so received under or pursuant to any
instrument, indenture, loan or credit or similar agreement of any Loan Party regarding or related to any breach or default by any party thereto or any other event that could materially impair the value of the interests or the rights of 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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any Loan Party or otherwise have a Material Adverse Effect and, from time to time upon request by the Administrative Agent, such information and reports regarding such instruments, indentures and
loan and credit and similar agreements as the Administrative Agent may reasonably request. 
 (k) [Reserved]. 

(l) Additional Information. Subject to Section 6.10(b), promptly, such additional information regarding the business, financial,
legal or corporate affairs of any Borrower or any Subsidiary thereof, or compliance with the terms of the Loan Documents, as the Administrative Agent, the Collateral Agent or any Lender may from time to time reasonably request. 

(m) Borrowing Base Certificate. 

(i) As soon as available, but in any event within twenty (20) days after the end of each month, a Borrowing Base
Certificate, together with a Back-Log Spreadsheet and a Take-Out Spreadsheet, providing, as of the end of the prior month, (A) megawatts installed, (B) megawatts added, (C) net megawatts backlog, (D) megawatts terminated,
(E) the Borrowing Base, (F) the Total Outstandings, (G) the Unencumbered Liquidity, (H) any contracts that are ineligible for Tranching under any open Tax Equity Partnership (including the number, face value and reasons for
rejection) and (I) such other supporting information as reasonably requested by the Administrative Agent, the Collateral Agent or the Lenders, each prepared as at the end of such month, duly certified by a Responsible Officer that is the chief
executive officer, chief financial officer, treasurer or controller of the Borrowers. Notwithstanding the foregoing, in the event of a Borrowing Base Deficiency, for the period during which the Borrowing Base Deficiency exists, the Loan Parties
shall deliver to the Administrative Agent, the Collateral Agent and the Lenders such Borrowing Base Certificate on a bi-weekly basis. 

(ii) Within twenty (20) days after the end of each month, together with the Borrowing Base Certificate delivered pursuant
to Section 6.02(m)(i) above, or more frequently as requested by the Administrative Agent, the Collateral Agent or the Required Lenders, (A) the monthly aging of the accounts receivable and accounts payable of the Loan Parties, (B) an
aged listing of accounts related to the Eligible Hawaii Tax Credit Receivables, the Eligible Customer Upfront Payment Receivables, the Eligible Trade Accounts and the Eligible Project Back-Log and (C) an Inventory report. 

(n) Unencumbered Liquidity. As soon as available, but in any event within fifteen (15) days after the end of each month, an
Unencumbered Liquidity Certificate, prepared as at the end of such month, duly certified by the chief executive officer, chief financial officer, treasurer or controller that is a Responsible Officer of the Borrowers. 

Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(g) (to the extent any such documents are included in
materials otherwise filed with the SEC) may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (a) on which the Borrowers post such documents, or provide a link thereto on the Borrowers’
website on the Internet at the website address listed on Schedule 1.01(a); or (b) on which such 
  

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documents are posted on the Borrowers’ behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party
website, related to an SEC filing or whether sponsored by the Administrative Agent); provided that: (i) the Borrowers shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the
Borrowers to deliver such paper copies and (ii) the Borrowers shall notify the Administrative Agent and each Lender (by fax transmission or other e-mail transmission) of the posting of any such documents. The Administrative Agent shall have no
obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrowers with any such request by a Lender for delivery, and each
Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 
 The Borrowers hereby acknowledge that
(A) the Administrative Agent and/or an Affiliate thereof may, but shall not be obligated to, make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrowers hereunder (collectively,
“Borrower Materials”) by posting the Borrower Materials on Debt Domain, IntraLinks, Syndtrak or another similar electronic system (the “Platform”) and (B) certain of the Lenders (each, a “Public
Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrowers or their Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to such Persons’ securities. The Borrowers hereby agree that so long as any Borrower is the issuer of any outstanding debt or Equity Interests that are registered or issued pursuant to a private offering
or is actively contemplating issuing any such securities it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (1) all such Borrower Materials shall
be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (2) by marking Borrower Materials “PUBLIC,” such Borrower
shall be deemed to have authorized the Administrative Agent, any Affiliate thereof, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and
proprietary) with respect to such Borrower or its securities for purposes of United States federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated
as set forth in Section 11.07); (3) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (4) the Administrative Agent
and any Affiliate thereof and the Arranger shall treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” Notwithstanding
the foregoing, (i) the Borrowers shall be under no obligation to mark any Borrower Materials “PUBLIC” and (ii) any materials furnished pursuant to Section 6.02(g) may be treated by the Administrative Agent and the Lenders as
if the same had been marked “PUBLIC” in accordance herewith. 
 Section 6.03 Notices. 

(a) Promptly, but in any event within three (3) Business Days of obtaining knowledge thereof, notify the Administrative Agent and each
Lender of the occurrence of any Default; and 
  
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 (b) Promptly, but in any event within four (4) Business Days of obtaining knowledge thereof,
notify the Administrative Agent and each Lender of: 
 (i) any matter that has resulted or could reasonably be expected to result in a
Material Adverse Effect; and 
 (ii) any time that a Loan Party or any Subsidiary has given to, or received from, a counterparty to a Tax
Equity Commitment or Backlever Financing formal written notice under the documents governing the applicable Tax Equity Commitments or Backlever Financing stating that a default or event of default has occurred and is continuing thereunder, or has
knowledge of the occurrence and continuation of such default or event of default but has not given such formal written notice; provided that such counterparty would have the right to cease funding, and has not waived such right to cease
funding, if such default or event of default remains uncured. 
 Each notice pursuant to this Section 6.03 shall be accompanied by a
statement of a Responsible Officer of the applicable Borrower setting forth details of the occurrence referred to therein and to the extent applicable, stating what action such Borrower has taken and proposes to take with respect thereto. Each
notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 

Section 6.04 Payment of Obligations. 

Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities,
assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained
by the Borrowers or any Subsidiary thereof; (b) all lawful claims which, if unpaid, would by law become a Lien upon any of their property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions
contained in any instrument or agreement evidencing such Indebtedness; except, in each case, to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

Section 6.05 Preservation of Existence, Etc. 

(a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its
organization except in a transaction permitted by Section 7.04 or 7.05, except to the extent that failure to do so could not reasonably be expected to adversely affect the Administrative Agent or the Secured Parties; 

(b) take all reasonable action to obtain and maintain all rights, privileges, Permits, licenses and franchises necessary or desirable in the
normal conduct of its business, including all Applicable Permits, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and 

 
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 (c) register or cause to be registered (to the extent not already registered) those registrable
Intellectual Property rights now owned or hereafter developed or acquired by the Loan Parties, to the extent that Loan Parties, in their reasonable business judgment, deem it appropriate to so protect such Intellectual Property rights, and preserve
or renew all of its registered patents, trademarks, trade names, service marks and other Intellectual Property rights, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 

Section 6.06 Maintenance of Properties. 

(a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working
order and condition, ordinary wear and tear excepted; 
 (b) make all necessary repairs thereto and renewals and replacements thereof except
where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and 
 (c) use the standard of care typical
in the industry in the operation and maintenance of its facilities. 
 Section 6.07 Maintenance of Insurance. 

(a) Maintenance of Insurance. With respect to the Loan Parties, maintain with an independent third-party insurer that is rated at least
“A” by A.M. Best Company, reasonably satisfactory insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and
in such amounts as are customarily carried under similar circumstances by such other Persons, including, without limitation, (i) property terrorism insurance and (ii) flood hazard insurance on all Mortgaged Properties that are Flood Hazard
Properties, on such terms and in such amounts as required by the National Flood Insurance Reform Act of 1994 or as otherwise required by the Administrative Agent. 

(b) Evidence of Insurance. With respect to the Loan Parties, cause the Collateral Agent to be named as lenders’ loss payable, loss
payee or mortgagee, as its interest may appear, and/or additional insured with respect of any such insurance providing liability coverage or coverage in respect of any Collateral, and cause, unless otherwise agreed to by the Administrative Agent,
each provider of any such insurance to agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to the Administrative Agent that it will give the Administrative Agent thirty (30) days prior written
notice before any such policy or policies shall be altered or cancelled (or ten (10) days prior notice in the case of cancellation due to the nonpayment of premiums). Annually, upon expiration of current insurance coverage, the Loan Parties
shall provide, or cause to be provided, to the Administrative Agent, such evidence of insurance as required by the Administrative Agent, including, but not limited to: (i) certified copies of such insurance policies, (ii) evidence of such
insurance policies (including, without limitation and as applicable, ACORD Form 28 certificates (or similar form of insurance certificate), and ACORD Form 25 certificates (or similar form of insurance certificate)), (iii) declaration
pages for each insurance policy and (iv) lenders’ loss payable endorsement if the Collateral Agent for the benefit of the Secured Parties is not on the declarations page for such policy. As requested by the Administrative Agent, the Loan
Parties 
  
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portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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agree to deliver to the Administrative Agent and the Collateral Agent an Authorization to Share Insurance Information in substantially the form of Exhibit O (or such other form as
required by each of the Loan Parties’ insurance companies). 
 (c) Redesignation. Promptly notify the Administrative Agent of
any Mortgaged Property that is, or becomes, a Flood Hazard Property. 
 Section 6.08 Compliance with Laws. 

Comply with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except
in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be
expected to have a Material Adverse Effect. 
 Section 6.09 Books and Records. 

(a) Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be
made of all financial transactions and matters involving the assets and business of such Loan Party or such Subsidiary thereof, as the case may be; and 

(b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having
regulatory jurisdiction over such Loan Party or such Subsidiary thereof, as the case may be. 
 Section 6.10 Inspection Rights.

 (a) In addition to any field examinations, permit representatives of the Collateral Agent, or an independent third-party examiner
acceptable to the Collateral Agent, at least once a calendar year to visit and inspect any of the Loan Parties’ properties, to examine its and their Subsidiaries’ corporate, financial and operating records, and make copies thereof or
abstracts therefrom (subject to the limitation set forth in clause (b) below), and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Loan Parties and at
such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Loan Parties; provided, however, subject to clause (c) below, prior to an Event of Default, the
Collateral Agent shall not conduct more than one such inspection during any calendar year; and provided, further, however, that when an Event of Default exists the Collateral Agent (or any of its representatives or independent
third-party examiners) may do any of the foregoing at the expense of the Loan Parties at any time during normal business hours and without advance notice. 

(b) Each inspection shall include a review of the Loan Parties’ books and records and other documentation to such extent as determined by
the Collateral Agent to be adequate to confirm contract compliance, Tranching criteria, Project Back-Log eligibility, Available Take-Out eligibility and other information requested by the Collateral Agent. Any inspection of the Material Contracts or
any other agreement affiliated with a Tax Equity Commitment shall be limited to review by the counsel of the Administrative Agent and the Collateral Agent. Such Material Contracts will not be copied, sent by mail, fax, e-mail or any other
transmission, or distributed to any Lender or its counsel without the express written consent of the Borrowers. 
  

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 (c) Subject to the second proviso in clause (a) above and in addition to any field
examinations, the Collateral Agent may (and at the direction of a Lender shall) conduct an additional inspection during any calendar year beyond the inspection set forth in the first proviso in clause (a) above so long as (i) the results
of such inspection will not result in the exercise of the Collateral Agent’s discretion as set forth in Sections 2.01(b)(i) and (ii), (ii) such inspection shall be at the cost and expense of Lenders if at the time of such inspection
no Event of Default exists, and (iii) the Collateral Agent designates such inspection as an “Additional Inspection”. 
 Section 6.11
Use of Proceeds. 
 Use the proceeds of the Credit Extensions for general corporate purposes not in contravention of any
Law, including any Anti-Terrorism Law, or of any Loan Document. 
 Section 6.12 [Reserved]. 

Section 6.13 Covenant to Guarantee Obligations. 

The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event
within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement;
provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties
shall give notice to the Administrative Agent within thirty (30) days (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any
other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01
and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEE, the Loan Parties shall cause LH
Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this
Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities
accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). 
  

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 Section 6.14 Covenant to Give Security. 

Except with respect to Excluded Property: 

(a) Equity Interests and Personal Property. 

(i) Each Loan Party will cause the Pledged Equity and all of its tangible and intangible personal property now owned or
hereafter acquired by it to be subject at all times to a first priority, perfected Lien (subject to Permitted Liens to the extent permitted by the Loan Documents) in favor of the Collateral Agent for the benefit of the Secured Parties to secure the
Secured Obligations pursuant to the terms and conditions of the Collateral Documents. Each Loan Party shall provide stock or membership certificates evidencing any Pledged Equity and undated stock or transfer powers duly executed in blank, opinions
of counsel and any filings and deliveries reasonably necessary in connection with such Pledged Equity to perfect the security interests therein, all in form and substance reasonably satisfactory to the Collateral Agent. 

(ii) Each Loan Party shall (A) provide to the Collateral Agent stock or membership certificates evidencing the Pledged
Equity listed on Schedule 5.21(f) as of the Closing Date, and undated stock or transfer powers duly executed in blank in connection therewith, no later than fourteen (14) days after the Closing Date, or within such longer period of time
after the Closing Date as reasonably requested by the Loan Parties and approved by the Administrative Agent, and (B) deliver to the Administrative Agent an opinion of counsel for the Loan Parties, addressed to the Administrative Agent and the
Lenders, in connection with matters relating to such stock or membership certificates and in form and substance acceptable to the Administrative Agent, no later than twenty (20) days after the Closing Date, or within such longer period of time
after the Closing Date as reasonably requested by the Loan Parties and approved by the Administrative Agent. 
 (b) Real Property. If
any Loan Party intends to acquire a fee ownership interest in any real property (“Real Estate”) after the Closing Date and such Real Estate has a fair market value in excess of $1,000,000, it shall provide to the Collateral Agent
within sixty (60) days (or such extended period of time as agreed to by the Collateral Agent) a Mortgage and such Mortgaged Property Support Documents as the Collateral Agent may request to cause such Real Estate to be subject at all times to a
first priority, perfected Lien (subject in each case to Permitted Liens) in favor of the Collateral Agent for the benefit of the Secured Parties to secure the Secured Obligations pursuant to the terms and conditions of the Collateral Documents. 

(c) Collateral Access Agreements. In the case of (i) any personal property Collateral located at any other premises containing
personal property Collateral with a value in excess of $1,000,000 and (ii) the premises located at 1 Chestnut Street, Suite 222, Nashua, New Hampshire 03060 or at 1227 Striker Avenue, Suite 260, Sacramento, California 95834, containing personal
property Collateral, the Loan Parties will provide the Collateral Agent with Collateral Access Agreements within ninety (90) days of the later of the Closing Date and the date the Loan Party acquires its interest in such premises to the extent
(A) requested by the Collateral Agent and (B) the Loan Parties are able to secure such Collateral Access Agreement, or within such longer period of time as reasonably requested by the Loan Parties and approved by the Collateral Agent. 

 
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 (d) Account Control Agreements. 

(i) Each of the Loan Parties shall not open, maintain or otherwise have any deposit or other accounts (including securities
accounts) at any bank or other financial institution, or any other account where money or securities are or may be deposited or maintained with any Person, other than (A) deposit accounts that are maintained at all times with depositary
institutions as to which the Collateral Agent shall have received a Qualifying Control Agreement; (B) securities accounts that are maintained at all times with financial institutions as to which the Collateral Agent shall have received a
Qualifying Control Agreement; (C) deposit accounts established solely as payroll and other zero balance accounts and such accounts are held at a bank acceptable to the Administrative Agent; (D) deposit accounts listed on Schedule
6.14(d)(i)(D) over which the Collateral Agent shall not have a Lien; and (E) other deposit accounts, so long as at any time the balance in any such account does not exceed $10,000 and the aggregate balance in all such other deposit accounts
does not exceed $100,000. 
 (ii) The Loan Parties shall (A) provide the Collateral Agent with Qualifying Control
Agreements satisfactory to the Collateral Agent with respect to all deposit accounts and securities accounts listed on Schedule 5.21(d)(i) as of the Closing Date, but excluding the deposit accounts listed on Schedule 6.14(d)(i)(D) over
which the Collateral Agent shall not have a Lien, and (B) deliver to the Administrative Agent an opinion of counsel for the Loan Parties, addressed to the Administrative Agent and the Lenders, in connection with matters relating to such
Qualifying Control Agreements and in form and substance acceptable to the Administrative Agent, in each case, no later than twenty (20) days after the Closing Date, or within such longer period of time after the Closing Date as reasonably
requested by the Loan Parties and approved by the Administrative Agent. 
 Section 6.15 Further Assurances. 

Promptly upon request by the Administrative Agent, the Collateral Agent, or any Lender through the Administrative Agent, (a) correct any
material defect or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any
and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent, the Collateral Agent, or any Lender through the Administrative Agent, may reasonably require from time to time in order to (i) carry
out more effectively the purposes of the Loan Documents, (ii) to the fullest extent permitted by applicable Law, subject any Loan Party’s or any of its Subsidiaries’ properties, assets, rights or interests to the Liens now or
hereafter intended to be covered by any of the Collateral Documents, (iii) perfect and maintain the validity, effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created thereunder and
(iv) assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any
other instrument executed in connection with any Loan Document to which any Loan Party or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries to do so. 

 
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 Section 6.16 Compliance with Environmental Laws. 

Comply, and cause all lessees and other Persons (other than the customer under the Host Customer Agreements) in all material respects, with all
applicable Environmental Laws and Environmental Permits; obtain, maintain and renew all Environmental Permits necessary for its operations and properties; and conduct any investigation, study, sampling and testing, and undertake any cleanup,
removal, remedial or other action necessary to prevent, remove and clean up all Hazardous Materials from any of its properties, in accordance with the requirements of all Environmental Laws; provided, however, that neither the
Borrowers nor any of their Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves
are being maintained with respect to such circumstances in accordance with GAAP. 
 Section 6.17 Title. 

The Loan Parties shall, and shall cause each of their Subsidiaries to, maintain good title to, or a valid leasehold, easement or other interest
in, all of its properties and assets, including those related to each Project, subject only to Permitted Liens. 
 Section 6.18 Compliance with
Anti-Terrorism Laws.  
 (a) Each Loan Party hereby covenants and agrees that it will not conduct and will not permit any
other Loan Party or any of the Borrowers’ Subsidiaries to conduct business with or engage in any transaction with any person or entity named on any of the OFAC Lists or any persons or entities determined and publicly announced by the Secretary
of the Treasury pursuant to Executive Order 13224 to be owned by, controlled by, acting for or on behalf of, providing assistance, support, sponsorship, or services of any kind to, or otherwise associated with any of the persons or entities
referred to or described in the OFAC Lists; provided that such Loan Party or Subsidiary shall not have any liability under this provision arising out of the transactions with the Administrative Agent, the Lenders or its agents contemplated by
this Agreement. Each Loan Party hereby covenants and agrees that it will comply at all times with the requirements of all Anti-Terrorism Laws. 

(b) Each Loan Party hereby covenants and agrees that if it obtains knowledge or receives any written notice that any of the Borrowers’
Subsidiaries or Affiliates is named on any of the OFAC Lists (such occurrence, an “OFAC Violation”), such Loan Party will immediately (i) give written notice to the Administrative Agent of such OFAC Violation and (ii) comply with
all applicable Laws with respect to such OFAC Violation (regardless of whether the party included on any of the OFAC Lists is located within the jurisdiction of the United States of America), including, without limitation, the Anti-Terrorism Laws,
and such Loan Party hereby authorizes and consents to the Administrative Agent’s taking any and all steps it deems necessary, in its sole discretion, to comply with all applicable Laws with respect to any such OFAC Violation, including, without
limitation, the requirements of the Anti-Terrorism Laws (including the “freezing” and/or “blocking” of assets). 
  

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 (c) Upon the Administrative Agent’s request from time to time during the term of this
Agreement, each Loan Party agrees to deliver a certification confirming its compliance with the covenants set forth in this Section 6.18. 

(d) Each Loan Party shall comply with the PATRIOT Act by promptly informing the Administrative Agent (by written notice) (i) if it is not
or ceases to be the beneficiary of the Loans made or to be made hereunder and (ii) of any new beneficiary of the Loans made or to be made hereunder, which notice shall include such new beneficiary’s name and address. 

ARTICLE VII 
 NEGATIVE
COVENANTS 
 Each of the Borrowers hereby covenants and agrees that on the Closing Date and thereafter until the Facility Termination
Date, no Borrower shall, nor shall it permit any Loan Party or any of its Subsidiaries (but specifically excluding Excluded Subsidiaries except to the extent referenced below) to, directly or indirect do the following. 

Section 7.01 Liens. 

Create, incur, assume or suffer to exist any Lien upon the Collateral and any of its other property, assets or revenues, whether now owned or
hereafter acquired, except for the following (the “Permitted Liens”): 
 (a) Liens pursuant to any Loan Document; 

(b) Liens existing on the Closing Date and listed on Schedule 7.01 and any renewals or extensions thereof; provided that
(i) the property, assets or revenues covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by Section 7.02(b), (iii) the direct or any contingent obligor with respect
thereto is not changed, and (iv) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.02(b); 

(c) Liens for Taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate
reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 
 (d) statutory Liens such as
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than thirty (30) days or which are being
contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; provided that, a reserve or other appropriate provision shall have
been made therefor; 
  
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 (e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (f) deposits to secure
the performance of bids, trade contracts and leases (other than Indebtedness) that is not Indebtedness permitted under Section 7.02, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature
incurred in the ordinary course of business; 
 (g) easements, rights-of-way, restrictions and other similar encumbrances affecting real
property which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable
Person; 
 (h) Liens securing judgments for the payment of money (or appeal or other surety bonds relating to such judgments) not
constituting an Event of Default under Section 8.01(h); 
 (i) Liens securing Indebtedness permitted under Section 7.02(c);
provided that (i) such Liens do not at any time encumber any property, assets or revenues other than the property, assets or revenues financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost
or fair market value at the time of the acquisition, whichever is lower, of the property being acquired on the date of acquisition; 
 (j)
Liens (i) securing Indebtedness permitted under Section 7.02(g) on the property, assets and revenues of Excluded Subsidiaries and (ii) securing obligations of the Excluded Subsidiaries pursuant to the Tax Equity Documents, in each
case so long as such Liens do not attach to the net proceeds of any Available Take-Out; 
 (k) Liens securing Indebtedness permitted under
Section 7.02(h) so long as such Liens attach only to the vehicles or computer systems financed thereby; 
 (l) Liens securing
Indebtedness permitted under Section 7.02(j) so long as such Liens attach only to the assets financed thereby; 
 (m) bankers’
Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposit in one or more accounts maintained by the Borrowers or any of their Subsidiaries, in each case in the ordinary course of business in
favor of the bank or banks with which such accounts are maintained, securing solely the customary amounts owing to such bank with respect to cash management and operating account arrangements; provided, that in no case shall any such Liens
secure (either directly or indirectly) the repayment of any Indebtedness; 
 (n) Liens arising out of judgments or awards not resulting in
an Event of Default; provided the applicable Loan Party or Subsidiary shall in good faith be prosecuting an appeal or proceedings for review; 
  

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 (o) Any interest or title of a lessor, licensor or sublessor under any lease, license or sublease
entered into by any Loan Party or any Subsidiary thereof in the ordinary course of business and covering only the assets so leased, licensed or subleased; 

(p) Liens of a collection bank arising under Section 4-210 of the UCC on items in the course of collection; 

(q) Any zoning, building or similar laws or rights reserved to or vested in any Governmental Authority; 

(r) Liens on property, assets and revenues of Excluded Subsidiaries securing Indebtedness incurred under Section 7.02(m); 

(s) Liens on SRECs or Liens in connection with any contract or agreement for the sale of SRECs; and 

(t) other Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $10,000,000; provided that no such
Lien shall extend to or cover any Collateral. 
 Section 7.02 Indebtedness. 

Create, incur, assume or suffer to exist, or prepay, redeem or repurchase, any Indebtedness, except: 

(a) Indebtedness under the Loan Documents; 

(b) Indebtedness outstanding on the date hereof and listed on Schedule 7.02 and any refinancings, refundings, renewals or
extensions thereof; provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees
and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder and the direct or any contingent obligor with respect thereto is not changed, as a result of or in
connection with such refinancing, refunding, renewal or extension; and, still further, that the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination, standstill and related terms (if any), and other
material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the
Loan Parties or the Lenders than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended and the interest rate applicable to any such refinancing, refunding, renewing or extending
Indebtedness does not exceed the then applicable market interest rate; 
 (c) Indebtedness in respect of Capitalized Leases, Synthetic Lease
Obligations and purchase money obligations for fixed or capital assets within the limitations set forth in Section 7.01(i); provided, however, that the aggregate principal amount of all Indebtedness of the Loan Parties incurred in
reliance on this clause (c) and clause (o) below at any time outstanding shall not exceed $25,000,000; 
  

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 (d) Unsecured Indebtedness of a Subsidiary of any Borrower owed to such Borrower or a Subsidiary
of such Borrower, which Indebtedness shall (i) to the extent required by the Administrative Agent, be evidenced by promissory notes which shall be pledged to the Collateral Agent as Collateral for the Secured Obligations in accordance with the
terms of the Security Agreement, (ii) be on terms (including subordination terms) reasonably acceptable to the Administrative Agent and (iii) be otherwise permitted under the provisions of Section 7.03 (“Intercompany
Debt”); 
 (e) Guarantees of any Borrower or any Subsidiary thereof in respect of Indebtedness otherwise permitted hereunder of
such Borrower or any Guarantor; 
 (f) obligations (contingent or otherwise) existing or arising under any Swap Contract; provided
that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with fluctuations in interest rates or foreign exchange rates and (ii) such Swap
Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party; 

(g) Backlever Financing; 
 (h)
Existing vehicle financing and other Indebtedness incurred for the acquisition or lease of vehicles or computer systems (so long as the amount of the Indebtedness does not exceed the purchase price of the vehicles or computer systems purchased with
the proceeds thereof and sole recourse with respect to such Indebtedness is the vehicle or computer systems purchased with the proceeds thereof) and any refinancing of such other Indebtedness (so long as the amount of the Indebtedness is not
increased in connection with such refinancing); 
 (i) any Borrower’s limited guarantees, indemnification obligations and obligations
to make capital contributions to or repurchase assets of the Excluded Subsidiaries (including Equity Interests of Excluded Subsidiaries) as required under the documents evidencing the Tax Equity Commitments, Backlever Financing or System
Refinancing, as the case may be, so long as (i) such indemnification and capital contribution obligations are not made in respect of obligations to repay debt for borrowed money and, (ii) if any Borrower is required to make a payment or
contribution in connection with such obligations, after giving effect to such payment or contribution on a Pro Forma Basis, (x) the Loan Parties shall be in compliance with each of the financial covenants set forth in Section 7.11 and
(y) no Borrowing Base Deficiency shall exist. 
 (j) vendor financing for the acquisition of Inventory incurred in the ordinary course
of the Borrowers or any of their Subsidiaries’ business and secured solely by the Inventory purchased with the proceeds thereof; 
 (k)
Obligations of reimbursement owed to the issuers of surety bonds (including, without limitation, payment and performance bonds, operation and maintenance bonds, contractor license bonds, bid bonds, energy broker bonds, prevailing wage bonds,
sweepstake bonds, permit bonds, electrical license bonds, notary public bonds and other similar bonds) to the extent such surety bonds are procured in the ordinary course of business; 

 
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 (l) Indebtedness evidenced by warrants issued by the Borrowers in connection with their Equity
Interests and stock options in the Borrowers, in each case issued in the ordinary course of business, so long as such Indebtedness is not for borrowed money; 

(m) System Refinancing; 
 (n)
Indebtedness incurred in accordance with the applicable Tax Equity Documents in the ordinary course of business; and 
 (o) other unsecured
Indebtedness not contemplated by the above provisions, together with the aggregate principal amount of all Indebtedness incurred in reliance on clause (c) above at any time outstanding, in an aggregate principal amount not to exceed $25,000,000
at any time outstanding. 
 Section 7.03 Investments. 

Make or hold any Investments, except: 

(a) Investments held by the Borrowers and their Subsidiaries (i) in the form of cash or Cash Equivalents, and (ii) pursuant to the
investment policy of the Borrowers; 
 (b) loans from any Loan Party to any officer, director and/or employee of the Borrowers and
Subsidiaries thereof in an aggregate amount not to exceed [***]; 
 (c) (i) Investments by the Borrowers and their Subsidiaries in their
respective Subsidiaries outstanding on the date hereof, (ii) Investments by the Borrowers and their Subsidiaries in Loan Parties, (iii) Investments by Excluded Subsidiaries in other Excluded Subsidiaries and (iv) so long as no Default
has occurred and is continuing or would result from such Investment, additional Investments (other than Investments made under clause 7.03(j) below) by the Loan Parties in Excluded Subsidiaries in an aggregate amount invested from the date
hereof together with any Investments made under clause 7.03(i) below not to exceed [***]; 
 (d) Investments consisting of extensions
of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account
debtors to the extent reasonably necessary in order to prevent or limit loss; 
 (e) Guarantees permitted by Section 7.02; 

(f) Investments existing on the date hereof (other than those referred to in Section 7.03(c)(i)) and set forth on
Schedule 7.03; 
 (g) Permitted Acquisitions (other than of CFCs and Subsidiaries held directly or indirectly by a CFC which
Investments are covered by Section 7.03(c)(iv)); 
 (h) Investments (including debt obligations) received in connection with the
bankruptcy or reorganization of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; 

 
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 (i) Investments in Excluded Subsidiaries (x) in accordance with the applicable Tax Equity
Documents, Backlever Financing or System Refinancing, as the case may be, in the ordinary course of business, (y) of PV Systems which are in operation as collateral to secure accounts receivable financing in which the net proceeds (after
deduction of reasonable fees and expenses) are distributed to any Borrower and (z) pursuant to any repurchase of assets permitted by Section 7.02(i); and 

(j) other Investments not contemplated by the above provisions not exceeding [***] in the aggregate invested from the date hereof after taking
into account Investments under clause 7.03(c)(iv) above. 
 Section 7.04 Fundamental Changes. 

Merge, dissolve, liquidate, consolidate with or into another Person, Dispose of (whether in one transaction or in a series of transactions) all
or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, or reorganize in a foreign jurisdiction, except: 

(a) any Loan Party may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrowers or to
another Loan Party, so long as no Default exists or would result therefrom; 
 (b) any Excluded Subsidiary may (i) dispose of all or
substantially all its assets (including any Disposition that is in the nature of a liquidation) as set forth in Section 7.05(e), or (ii) so long as no Default exists or would result therefrom, merge into or consolidate with any other
Person or permit any other Person to merge into or consolidate with it, in each case so long as the Tax Equity Commitments or Backlever Financings of such Excluded Subsidiary are not included in the calculation of Available Take-Out and the
exclusion of such Tax Equity Commitments or Backlever Financings from the calculation of Available Take-Out does not result in a Borrowing Base Deficiency; 

(c) in connection with any Permitted Acquisition, any Subsidiary of any Borrower may merge into or consolidate with any other Person or permit
any other Person to merge into or consolidate with it; provided that (i) the Person surviving such merger shall be a wholly-owned Subsidiary of such Borrower and (ii) in the case of any such merger to which any Loan Party (other
than any Borrower) is a party, such Loan Party is the surviving Person; 
 (d) so long as no Default has occurred and is continuing or would
result therefrom, each of the Borrowers and any Loan Party may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided, however, that in each case, immediately after
giving effect thereto (i) in the case of any such merger to which any Borrower is a party, such Borrower is the surviving Person and (ii) in the case of any such merger to which any Loan Party (other than any Borrower) is a party, such
Loan Party is the surviving Person; 
  
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 (e) any (i) initial Public Offering of Equity Interests in any Borrower, (ii) follow-on
offerings thereafter, or (iii) private offerings of Equity Interests of any Borrower which are acceptable to the Administrative Agent and any other activities in connection therewith, so long as such offerings and activities described in clause
(iii) could not be reasonably expected to have Material Adverse Effect or result in a Change of Control; and 
 (f) Disposition of
Equity Interests in or assets of Excluded Subsidiaries as permitted by Section 7.05(e). 
 Section 7.05 Dispositions. 

Make any Disposition or enter into any agreement to make any Disposition, except: 

(a) Permitted Dispositions; provided that, upon any Permitted Disposition described in the clause (a) of the definition of such
term, so long as no Default or Borrowing Base Deficiency shall have occurred and be continuing, or would occur after giving effect to such Permitted Disposition, any Lien on such Project(s) pursuant to the Loan Documents shall be released without
the need for further action by any Person in accordance with such reborrowing and repayment mechanics with such setoff as provided hereunder (and the Collateral Agent shall execute and deliver any release and termination documents with respect to
any Liens on any such Project(s) at the cost of and as reasonably requested by the Loan Parties); 
 (b) Dispositions of obsolete or worn
out property, whether now owned or hereafter acquired, in the ordinary course of business; 
 (c) Dispositions of equipment or real property
to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement
property; 
 (d) Dispositions permitted by Section 7.04; 

(e) Dispositions of Equity Interests in, or assets of, Excluded Subsidiaries so long as (i) the Tax Equity Commitments or Backlever
Financing of such Excluded Subsidiary and its partially or wholly owned subsidiaries, if any, are not included in the calculation of Available Take-Out and the exclusion of such Tax Equity Commitments or Backlever Financing from the calculation of
Available Take-Out does not result in a Borrowing Base Deficiency, (ii) consideration received for such Disposition is in cash or Cash Equivalents, and (iii) the net proceeds (after deduction of reasonable fees and expenses), if any, are
distributed directly to the Borrowers; 
 (f) other Dispositions so long as (i) the consideration paid in connection therewith shall be
cash or Cash Equivalents paid contemporaneously with consummation of the transaction and shall be in an amount not less than the fair market value of the property disposed of, (ii) such transaction does not involve the Disposition of Equity
Interests in any Subsidiary, (iii) such transaction does not involve a Disposition of receivables other than receivables owned by or attributable to other property concurrently being disposed of in a transaction otherwise permitted under this
Section, and (iv) the aggregate net book value of all of the assets sold or otherwise disposed of by the Loan Parties and their Subsidiaries in all such transactions in any fiscal year of the Borrowers shall not exceed [***]; 

 
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 (g) Disposition of assets of an Excluded Subsidiary as a result of a foreclosure of a Permitted
Lien in connection with a Backlever Financing or System Refinancing so long as such foreclosure does not result in a Borrowing Base Deficiency; and 

(h) Dispositions made in the ordinary course of business in accordance with the applicable Tax Equity Documents. 

Section 7.06 Restricted Payments. 

Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so
long as no Default or Borrowing Base Deficiency shall have occurred and be continuing at the time of any action described below or would result therefrom: 

(a) each Subsidiary may make Restricted Payments to any Person that owns Equity Interests in such Subsidiary, ratably according to their
respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made; 
 (b) the Borrowers and each
Subsidiary (including Excluded Subsidiaries) thereof may declare and make dividend payments or other distributions payable solely in common Equity Interests of such Person; 

(c) the exercise of stock repurchase rights of the Borrowers in connection with shareholder’s right of first refusal as set forth in
Borrowers’ stock option plan; 
 (d) the Borrowers may make other Restricted Payments in an aggregate amount during any fiscal year of
the Borrowers not to exceed [***] (with unused amounts in any fiscal year being carried over to succeeding fiscal years subject to a maximum of $10,000,000 in any fiscal year); 

(e) notwithstanding the foregoing, even if a Default or Borrowing Base Deficiency has occurred and is continuing, the Borrowers may make
equity grants in the ordinary course of business in connection with the Borrowers’ stock option plan; and 
 (f) the Borrowers may pay
earnouts in connection with a Permitted Acquisition; provided, that, at any time a Default or Borrowing Base Deficiency exists, the Borrowers may only pay earnouts in Equity Interests of the Borrowers; provided, further, that, a
Default set forth in Section 8.01(k) shall not be existing after giving effect to the payment of any such earnout in Equity Interests. 

Section 7.07 Change in Nature of Business. 

Engage in any material line of business substantially different from those lines of business conducted by the Borrowers and their Subsidiaries
on the date hereof or any business substantially related or incidental thereto which could reasonably be expected to have a Material Adverse Effect. 
  

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 Section 7.08 Transactions with Affiliates. 

Enter into or permit to exist any transaction or series of transactions with any officer, director or Affiliate of such Person other than
(a) advances of working capital to any Loan Party, (b) transfers of cash and assets to any Loan Party, (c) intercompany transactions expressly permitted by this Agreement, (d) normal and reasonable compensation (including grant
of stock options in accordance with Borrowers’ stock option plan) and reimbursement of expenses of officers and directors, (e) except as otherwise specifically limited in this Agreement, other transactions which are entered into in the
ordinary course of such Person’s business, (f) transactions contemplated by the Tax Equity Documents, Backlever Financings or System Refinancings, and (g) transactions approved by the board of directors of the Borrowers or any
authorized committee thereof; provided that such approval shall have included a determination by the board of directors or such committee, as the case may be, that such transaction is fair to, and in the best interest of, the Borrowers, in
each case, on fair and reasonable terms and conditions substantially as favorable to such Person as would be obtainable by it in a comparable arm’s length transaction with a Person other than an officer, director or Affiliate. 

Section 7.09 Burdensome Agreements. 

Other than in respect of any Backlever Financing, enter into, or permit to exist, any Contractual Obligation (except for this Agreement and the
other Loan Documents) that (a) restricts the ability of any such Loan Party or its Subsidiaries (other than Excluded Subsidiaries, except with respect to clause (ii) below) (i) to act as a Loan Party; (ii) make Restricted
Payments to any Loan Party, (iii) pay any Indebtedness or other obligation owed to any Loan Party, (iv) make loans or advances to any Loan Party, or (v) create any Lien upon any of their properties or assets, whether now owned or
hereafter acquired, except, in the case of clause (a)(v) only, for any document or instrument governing Indebtedness incurred pursuant to Section 7.02(c), provided that any such restriction contained therein relates only to the
asset or assets constructed or acquired in connection therewith, (b) requires the grant of any Lien on property for any obligation if a Lien on such property is given as security for the Secured Obligations or (c) restricts the ability of
an Excluded Subsidiary to make Restricted Payments to any Loan Party. 
 Section 7.10 Margin Stock. 

Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or
carry margin stock (within the meaning of Regulations T, U or X of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund Indebtedness originally incurred for such purpose. 

Section 7.11 Financial Covenants. 

(a) Unencumbered Liquidity. Permit the Unencumbered Liquidity of the Borrowers to be less than $25,000,000, measured monthly as of the
last day of each month; provided, that an Event of Default shall not be deemed to have occurred solely as a result of Borrower’s failure 
  

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to maintain an Unencumbered Liquidity of at least $25,000,000 as of any month end unless its Unencumbered Liquidity is less than such amount on two (2) consecutive measurement dates;
further provided, that Unencumbered Liquidity shall not be less than $20,000,000 as of the last day of any month; and 
 (b)
Minimum Interest Coverage Ratio. Permit an Interest Coverage Ratio below 2.0:1.0, measured quarterly as of the last day of each quarter. 

Section 7.12 Amendments of Organization Documents and Material Contracts; Fiscal Year; Legal Name, State of Formation; Form of Entity and
Accounting Changes. 
 (a) Amend any of its Organization Documents or Material Contracts in a manner that could reasonably be
expected to lead to a Material Adverse Effect; 
 (b) change its fiscal year; 

(c) without providing thirty (30) days prior written notice to the Administrative Agent (or such extended period of time as agreed to by
the Administrative Agent), change its name, state of formation, form of entity or principal place of business; or 
 (d) make any change in
accounting policies or reporting practices, except in accordance with GAAP or as required by the Loan Parties’ external auditors. 

Section 7.13 Sale and Leaseback Transactions. 

Enter into any Sale and Leaseback Transaction other than (i) a Sale and Leaseback Transaction of vehicles pursuant to any existing vehicle
financing, (ii) a Sale and Leaseback Transaction of office and computer equipment in the ordinary course of business, and (iii) a Sale and Leaseback Transaction for the sale of PV Systems in the ordinary course of the Borrowers’
business pursuant to a Sale-Leaseback Structure. 
 Section 7.14 Disqualified Person. 

Permit any Borrower or any of its Subsidiaries that directly or indirectly holds an interest in an Project for which an ITC or accelerated
depreciation is included in the Borrowing Base to become a Disqualified Person, or permit any Project for which an ITC or accelerated depreciation is included in the Borrowing Base to be used within the meaning of Section 168(h) or
Section 50 of the Code by a person described in Section 168(h)(2) of the Code (including by virtue of Section 168(h)(6)(F) of the Code) or Section 50(b)(3) or (4) of the Code. 

Section 7.15 Amendments to Host Customer Agreements, Back-Log Spreadsheets or Take-Out Spreadsheets. 

Make any amendments to its forms of Host Customer Agreements as disclosed to the Administrative Agent on the Closing Date, except to the extent
that such amendments could not negatively affect compliance with applicable consumer law or could not reasonably be expected to have a Material Adverse Effect, or any amendments to any Back-Log Spreadsheet or Take-Out Spreadsheet delivered with any
Borrowing Base Certificate, except to the extent that such amendments could not reasonably be expected to have a Material Adverse Effect. 
  

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 Section 7.16 [Reserved]. 

Section 7.17 [Reserved]. 

Section 7.18 Partnerships and Joint Ventures. 

Become, or cause or permit any Loan Party to become, a general or limited partner in any partnership or a joint venturer in any joint venture
other than a Project Fund or Excluded Subsidiary. 
 Section 7.19 ERISA. 

Sponsor, maintain, participate in, contribute to, or have any unsatisfied obligation to contribute to, or liability under, any active or
terminated Pension Plan or Multiemployer Plan. 
 Section 7.20 Secured Hedge Agreements. 

Enter into any Secured Hedge Agreements unless reasonably satisfactory to, and approved by, the Administrative Agent. 

ARTICLE VIII 
 EVENTS OF
DEFAULT AND REMEDIES 
 Section 8.01 Events of Default. 

Any of the following shall constitute an “Event of Default”: 

(a) Non-Payment. The Borrowers or any other Loan Party fail to pay (i) when and as required to be paid herein, any amount of
principal of any Loan or any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) within three (3) days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due
hereunder, or (iii) within five (5) days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 

(b) Specific Covenants. (i) Any Loan Party fails to perform or observe any term, covenant or agreement contained in any of
Section 6.01, 6.02, 6.03(a), 6.05, 6.14(a)(ii), 6.14(d)(ii) or 6.16, Article VII or Article X or (ii) any of the Loan Parties fails to perform or observe any term, covenant or agreement contained in the Security Agreement; or

 (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in
Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days; or 
  

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 (d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of the Borrowers or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading when made or deemed
made; or 
 (e) Cross-Default. (i) Any Loan Party (A) fails to make any payment when due (whether by scheduled maturity,
required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or
available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such
Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, in each case having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all
creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the
beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be
repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or Cash Collateral in
respect thereof to be demanded; (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party thereof is the
Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value
owed and unpaid by such Loan Party as a result thereof is greater than the Threshold Amount; or 
 (f) Insolvency Proceedings, Etc.
Any Loan Party institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian,
conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or
consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted
without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or 

(g) Inability to Pay Debts; Attachment. (i) Any Loan Party becomes unable or admits in writing its inability or fails generally to
pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded
within thirty (30) days after its issue or levy; or 
  
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 (h) Judgments. There is entered against any Loan Party (i) one or more final
judgments or orders for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer is rated at least
“A” by A.M. Best Company, has been notified of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of ten (10) consecutive days during which a stay of enforcement
of such judgment, by reason of a pending appeal or otherwise, is not in effect; or 
 (i) ERISA. (i) An ERISA Event occurs with
respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in
excess of the Threshold Amount, or (ii) any Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of
ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or 
 (j) Invalidity of Loan Documents.
Any provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all Obligations arising under the Loan Documents, ceases to be
in full force and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any
provision of any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan Document; or 
 (k) Change of
Control. There occurs any Change of Control of the Borrowers (except in connection with a Public Offering of the Borrowers); or 
 (l)
Uninsured Loss. Any uninsured damage to or theft or destruction of any assets of the Loan Parties or any of their Subsidiaries shall occur that is in excess of $10,000,000 (excluding customary deductible thresholds established in accordance
with historical past practices); or 
 (m) Subordination. The validity, binding effect or enforceability of any subordination
provisions relating to any Subordinated Debt of any Loan Party shall be contested by any Person party thereto (other than any Lender, the Administrative Agent or the Collateral Agent), or such subordination provisions shall fail to be enforceable by
the Administrative Agent, the Collateral Agent and the Lenders in accordance with the terms thereof, or the Indebtedness shall for any reason not have the priority contemplated by this Agreement or such subordination provisions. 

Without limiting the provisions of Article IX, if a Default shall have occurred under the Loan Documents, then such Default will continue
to exist until it either is cured (to the extent specifically permitted) in accordance with the Loan Documents or is otherwise expressly waived by Administrative Agent (with the approval of requisite Appropriate Lenders (in their sole 

 
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discretion) as determined in accordance with Section 11.01; and once an Event of Default occurs under the Loan Documents, then such Event of Default will continue to exist until it is
expressly waived by the requisite Appropriate Lenders or by the Administrative Agent with the approval of the requisite Appropriate Lenders, as required hereunder in Section 11.01. 

Section 8.02 Remedies upon Event of Default. 

If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required
Lenders, take any or all of the following actions: 
 (a) declare the Commitment of each Lender to make Loans and any obligation of the L/C
Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b) declare the
unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or
other notice of any kind, all of which are hereby expressly waived by the Loan Parties; 
 (c) require that the Loan Parties Cash
Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto); and 
 (d) exercise on behalf
of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under the Loan Documents or applicable Law or equity; 

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Loan Parties under the
Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest
and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Loan Parties to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the
Administrative Agent or any Lender. 
 For the avoidance of doubt, if any Event of Default occurs and is continuing, the Collateral Agent
may take any or all of the remedial actions described in the Collateral Documents. 
 Section 8.03 Application of Funds. 

After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and
the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02) or if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all Secured
Obligations then due hereunder, any amounts received on account of the Secured Obligations shall, subject to the provisions of Sections 2.13 and 2.14, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Secured Obligations constituting fees, indemnities, expenses and other amounts (including
fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

 
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 Second, to payment of that portion of the Secured Obligations constituting fees,
indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer arising under the
Loan Documents and amounts payable under Article III, ratably among them in proportion to the respective amounts described in this clause Second payable to them; 

Third, to payment of that portion of the Secured Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the
Loans, L/C Borrowings and other Secured Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Secured Obligations constituting unpaid principal of the Loans, L/C Borrowings and Secured
Obligations then owing under Secured Hedge Agreements and Secured Cash Management Agreements, ratably among the Lenders, the L/C Issuer, the Hedge Banks and the Cash Management Banks in proportion to the respective amounts described in this
clause Fourth held by them; 
 Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that
portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Loan Parties pursuant to Sections 2.03 and 2.13; and 

Last, the balance, if any, after all of the Secured Obligations have been indefeasibly paid in full, to the Loan Parties or as
otherwise required by Law. 
 Subject to Sections 2.03(c) and 2.13, amounts used to Cash Collateralize the aggregate undrawn
amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been
fully drawn or expired, such remaining amount shall be applied to the other Secured Obligations, if any, in the order set forth above. Excluded Swap Obligations with respect to any Guarantor shall not be paid with amounts received from such
Guarantor or its assets, but appropriate adjustments shall be made with respect to payments from other Loan Parties to preserve the allocation to Secured Obligations otherwise set forth above in this Section. 

Notwithstanding the foregoing, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall be
excluded from the application described above if the Administrative Agent has not received a Secured Party Designation Notice, together with such supporting documentation as the Administrative Agent may request, 

 
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from the applicable Cash Management Bank or Hedge Bank, as the case may be. Each Cash Management Bank or Hedge Bank not a party to this Agreement that has given the notice contemplated by the
preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX for itself and its Affiliates as if a “Lender” party hereto. 

ARTICLE IX 

ADMINISTRATIVE AGENT; COLLATERAL AGENT 

Section 9.01 Appointment and Authority. 

Each of the Lenders and the L/C Issuer hereby irrevocably appoints, designates and authorizes Credit Suisse to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents 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 hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. Each of the Lenders, the Administrative Agent and the L/C Issuer hereby irrevocably appoints, designates and authorizes Silicon Valley Bank to act on its behalf as the
Collateral Agent hereunder and under the other Loan Documents and authorizes the Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to the Collateral Agent by the terms hereof or thereof, together with
such actions and powers as are reasonably incidental thereto. Without limiting the generality of the foregoing, each of the Administrative Agent and the Collateral Agent is hereby expressly authorized to (i) execute any and all documents
(including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this Agreement and the other Loan Documents and (ii) negotiate, enforce
or the settle any claim, action or proceeding affecting the Lenders in their capacity as such, at the direction of the Required Lenders, which negotiation, enforcement or settlement will be binding upon each Lender. The provisions of this Article
are solely for the benefit of the Administrative Agent, the Collateral Agent, the Lenders and the L/C Issuer, and neither the Borrowers nor any other Loan Party shall have rights as a third party beneficiary of any of such provisions. It is
understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent or the Collateral Agent is not intended to connote any fiduciary or other
implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

Section 9.02 Rights as a Lender. 

The Person serving as the Administrative Agent or the Collateral 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 the Administrative Agent or the Collateral Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context
otherwise requires, include the Person serving as the Administrative Agent or the Collateral Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial
advisor or in any other advisory 
  
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capacity for and generally engage in any kind of banking, trust, financial, advisory, underwriting or other business with any Loan Party or any Subsidiary or other Affiliate thereof as if such
Person were not the Administrative Agent or the Collateral Agent hereunder and without any duty to account therefor to the Lenders or to provide notice to or consent of the Lenders with respect thereto. 

Section 9.03 Exculpatory Provisions. 

Neither the Administrative Agent nor the Collateral Agent shall have any duties or obligations except those expressly set forth herein and in
the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, none of the Administrative Agent, the Collateral Agent and their respective Related Parties: 

(a) shall be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

(b) shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent or the Collateral Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
expressly provided for herein or in the other Loan Documents), provided that neither the Administrative Agent nor the Collateral Agent shall be required to take any action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent or the Collateral Agent to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that
may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; 
 (c) shall,
except as expressly set forth herein and in the other Loan Documents, have any duty or responsibility to disclose, and shall be liable for the failure to disclose, any information relating to any Borrower or any of its Subsidiaries or Affiliates
that is communicated to or obtained by the Person serving as the Administrative Agent or the Collateral Agent or any of its Affiliates in any capacity; and 

(d) shall be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number
or percentage of the Lenders as shall be necessary under the circumstances as provided herein or in the other Loan Documents) or in the absence of its own gross negligence or willful misconduct. 

None of the Administrative Agent, the Collateral Agent or any of their respective Related Parties shall be liable for any action taken or not
taken by the Administrative Agent or the Collateral Agent under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby or thereby (i) with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary), or as the Administrative Agent or the Collateral Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 11.01
and 8.02) or (ii) in the absence of its own 
  
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gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. Any such action taken or failure to act pursuant to the foregoing
shall be binding on all Lenders. Each of the Administrative Agent and the Collateral Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given in writing to the Administrative Agent or the
Collateral Agent by any Borrower, a Lender or the L/C Issuer. 
 None of the Administrative Agent, the Collateral Agent or any of their
respective Related Parties shall be responsible for, or have any duty or obligation to any Lender or any other Person to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any
other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder 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 therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the
creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere
herein or in any other Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or the Collateral Agent. 

Section 9.04 Reliance by Administrative Agent and Collateral Agent. 

Each of the Administrative Agent and the Collateral Agent shall be entitled to rely upon, and shall be fully protected in relying and shall not
incur any liability for relying upon, any notice, request, certificate, communication, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent also may rely upon any statement made to it orally or by telephone and believed by it to
have been made by the proper Person, and shall be fully protected in relying and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal
or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the
Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. Each of the Administrative Agent and the Collateral Agent may consult with
legal counsel (who may be counsel for the Loan Parties), 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. For purposes of determining compliance with the conditions specified in Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other
matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent or the Collateral Agent shall have received notice from such Lender prior to the proposed Closing Date specifying
its objections. 
  
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portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  
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 Section 9.05 Delegation of Duties. 

Each of the Administrative Agent and the Collateral Agent may perform any and all of its duties and exercise its rights and powers hereunder or
under any other Loan Document by or through any one or more sub-agents appointed by it. Each of the Administrative Agent, the Collateral Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and the Collateral Agent and any such sub-agent, and shall apply to their
respective activities in connection with the syndication of the Facility as well as activities as Administrative Agent or Collateral Agent. Neither the Administrative Agent nor the Collateral Agent shall be responsible for the negligence or
misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent or the Collateral Agent acted with gross negligence or willful misconduct in the
selection of such sub-agents. 
 Section 9.06 Resignation of Administrative Agent or Collateral Agent. 

(a) Notice. Each of the Administrative Agent or the Collateral Agent may at any time give notice of its resignation to the Lenders, the
L/C Issuer and the Borrowers. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrowers, to appoint a successor, which shall be a bank with an office in the United States, or an
Affiliate of any such bank with an office in the United States. If no such 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 the Collateral Agent gives notice of its resignation (or such earlier days as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent or the Collateral Agent may (but
shall not be obligated to) on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent or Collateral Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall
become effective in accordance with the notice on the Resignation Effective Date. If no successor Administrative Agent or Collateral Agent has been appointed by the Resignation Effective Date, the Required Lenders shall thereafter perform all the
duties of the Administrative Agent or Collateral Agent hereunder and/or under any other Loan Document until such time, if any, as the Required Lenders appoint a successor Administrative Agent and/or Collateral Agent, as the case may be. 

(b) Defaulting Lender. If the Person serving as Administrative Agent or Collateral Agent is a Defaulting Lender pursuant to
clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable Law, by notice in writing to the Borrowers and such Person remove such Person as Administrative Agent or Collateral Agent and, in consultation
with the Borrowers, appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days (or such earlier day as shall be agreed by the Required Lenders)
(the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. 
  

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 (c) Effect of Resignation or Removal. Any such resignation by the Administrative Agent or
the Collateral Agent hereunder shall also constitute, to the extent applicable, its resignation as an L/C Issuer, in which case such resigning Administrative Agent or Collateral Agent (x) shall not be required to issue any further Letters of
Credit hereunder and (y) shall maintain all of its rights as L/C Issuer with respect to any Letters of Credit issued by it prior to the Resignation Effective Date. With effect from the Resignation Effective Date or the Removal Effective Date
(as applicable) (i) the retiring or removed Administrative Agent or Collateral Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by
the Collateral Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring or removed Collateral Agent shall continue to hold such collateral security until such time as a successor Collateral Agent is appointed
and shall continue to receive its current level of remuneration for such continuation of service) and (ii) except for any indemnity payments or other amounts then owed to the retiring or removed Administrative Agent or Collateral Agent, all
payments, communications and determinations provided to be made by, to or through the Administrative Agent or the Collateral Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time, if any, as the Required
Lenders appoint a successor Administrative Agent or Collateral Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent or Collateral Agent hereunder, such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent or Collateral Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed
to the retiring or removed Administrative Agent or Collateral Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent or Collateral Agent shall be discharged from all
of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrowers to a successor Administrative Agent or Collateral Agent shall be the
same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor. After the retiring or removed Administrative Agent’s or Collateral Agent’s resignation or removal hereunder and under the other Loan
Documents, the provisions of this Article and Section 11.04 shall continue in effect for the benefit of such retiring or removed Administrative Agent or Collateral Agent, its sub agents and their respective Related Parties in respect of any
actions taken or omitted to be taken by any of them while the retiring or removed Administrative Agent or Collateral Agent was acting as Administrative Agent or Collateral Agent. 

(d) L/C Issuer. Any resignation by Silicon Valley Bank as Collateral Agent pursuant to this Section shall also constitute its
resignation as L/C Issuer. If Silicon Valley Bank or Comerica Bank resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit issued by it outstanding as
of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to
Section 2.03(c). Upon the appointment by the Borrowers of a successor L/C Issuer hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender and shall be subject to the consent of the Administrative Agent (which
consent shall not be unreasonably withheld or delayed) and such Lender), (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring 

 
  
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L/C Issuer, (ii) the retiring L/C Issuer shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents, and (iii) the successor L/C Issuer shall
issue letters of credit in substitution for the Letters of Credit issued by the retiring L/C Issuer, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the
obligations of the retiring L/C Issuer with respect to such Letters of Credit. 
 Section 9.07 Non-Reliance on Administrative Agent and Other
Lenders. 
 Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the
Administrative Agent, the Collateral Agent, any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent, the Collateral Agent, any other Lender or any of their Related Parties 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 Loan Document or any related agreement or any document furnished hereunder or thereunder. 

Section 9.08 No Other Duties, Etc. 

Anything herein to the contrary notwithstanding, none of the titles listed on the cover page hereof shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, the Collateral Agent, a Lender or the L/C Issuer hereunder. Notwithstanding any other provision of this
Agreement or any provision of any other Loan Document, the Arranger is named as such for recognition purposes only, and in its capacity as such shall have no duties, responsibilities or liabilities with respect to this Agreement or any other Loan
Document; it being understood and agreed that the Arranger shall be entitled to all indemnification and reimbursement rights in favor of the Administrative Agent and the Collateral Agent provided herein and in the other Loan Documents. Without
limitation of the foregoing, the Arranger in its capacity as such shall not, by reason of this Agreement or any other Loan Document, have any fiduciary relationship in respect of any Lender, Loan Party or any other Person. 

Section 9.09 Administrative Agent May File Proofs of Claim; Credit Bidding. 

(a) In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the
Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any
demand on the Borrowers) shall be entitled and empowered, by intervention in such proceeding or otherwise: 
 (i) to file and prove a claim
for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Secured Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order 

 
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to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C
Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(h) and (i), 2.08, and 11.04) allowed in such judicial
proceeding; and 
 (ii) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.08
and 11.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent or the Collateral Agent to authorize or
consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Secured Obligations or the rights of any Lender or the L/C Issuer or to authorize the
Administrative Agent or the Collateral Agent to vote in respect of the claim of any Lender or the L/C Issuer or in any such proceeding. 

(b) The Loan Parties and the Secured Parties hereby irrevocably authorize the Collateral Agent, based upon the instruction of the Required
Lenders, to (a) credit bid and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral at any sale thereof conducted under the provisions of the Bankruptcy Code of the United
States, including under Section 363 of the Bankruptcy Code of the United States or any similar Laws in any other jurisdictions to which a Loan Party is subject, or (b) credit bid and in such manner purchase (either directly or through one
or more acquisition vehicles) all or any portion of the Collateral at any other sale or foreclosure conducted by (or with the consent or at the direction of) the Collateral Agent (whether by judicial action or otherwise) in accordance with
applicable Law. In connection with any such credit bid and purchase, the Secured Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Secured Obligations with respect to contingent or
unliquidated claims being estimated for such purpose if the fixing or liquidation thereof would not unduly delay the ability of the Collateral Agent to credit bid and purchase at such sale or other disposition of the Collateral and, if such claims
cannot be estimated without unduly delaying the ability of the Collateral Agent to credit bid, then such claims shall be disregarded, not credit bid, and not entitled to any interest in the asset or assets purchased by means of such credit bid) and
the Secured Parties whose Secured Obligations are credit bid shall be entitled to receive interests (ratably based upon the proportion of their Secured Obligations credit bid in relation to the aggregate amount of Secured Obligations so credit bid)
in the asset or assets so purchased (or in the Equity Interests of the acquisition vehicle or vehicles that are used to consummate such purchase). Except as provided above and otherwise expressly provided for herein or in the other Collateral
Documents, the Collateral Agent will not execute and deliver a 
  
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release of any Lien on any Collateral. Upon request by the Collateral Agent or the Borrowers at any time, the Secured Parties will confirm in writing the Collateral Agent’s authority to
release any such Liens on particular types or items of Collateral pursuant to this Section 9.09. 
 Section 9.10 Collateral and Loan Party
Guarantee Matters. 
 Each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential
Hedge Bank) and the L/C Issuer irrevocably authorize the Collateral Agent, at its option and in its discretion, 
 (a) to release any Lien
on any property granted to or held by the Collateral Agent under any Loan Document (i) upon the Facility Termination Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with
any sale or other disposition permitted hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders in accordance with Section 11.01; 

(b) to subordinate any Lien on any property granted to or held by the Collateral Agent under any Loan Document to the holder of any Lien on
such property that is permitted by Section 7.01(i); 
 (c) to release any Guarantor from its obligations under the Loan Party Guarantee
if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents or if such person becomes an Excluded Subsidiary; 

(d) to release any Lien on the assets or Equity Interests of a Subsidiary that becomes an Excluded Subsidiary. 

Upon request by the Collateral Agent at any time, the Required Lenders will confirm in writing the Collateral Agent’s authority to
release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Loan Party Guarantee pursuant to this Section 9.10. In each case as specified in this Section 9.10,
the Collateral Agent will, at the Borrowers’ expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security
interest granted under the Collateral Documents or to subordinate its interest in such item, or to release such Guarantor from its obligations under the Loan Party Guarantee, in each case in accordance with the terms of the Loan Documents and this
Section 9.10. 
 Neither the Administrative Agent nor the Collateral Agent shall be responsible for or have a duty to ascertain or
inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Loan Party in
connection therewith, nor shall the Administrative Agent or the Collateral Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

 
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 Section 9.11 Secured Cash Management Agreements and Secured Hedge Agreements. 

Except as otherwise expressly set forth herein, no Cash Management Bank or Hedge Bank that obtains the benefit of the provisions of
Section 8.03, the Loan Party Guarantee or any Collateral by virtue of the provisions hereof or any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other
Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) (or to notice of or to consent to any amendment, waiver or modification of the provisions hereof or of the Loan Party Guarantee or any
Collateral Document) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall
not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements except to the extent expressly
provided herein and unless the Administrative Agent has received a Secured Party Designation Notice of such Secured Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management
Bank or Hedge Bank, as the case may be. The Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management
Agreements and Secured Hedge Agreements in the case of the Facility Termination Date. 
 Section 9.12 Field Examinations. 

After any field examination is conducted by or on behalf of the Collateral Agent, within ten (10) days of sign-off from the Collateral
Agent on the results of such field examination, the Collateral Agent shall deliver a report of the results of such field examination to the Administrative Agent for distribution to each Lender. 

ARTICLE X 
 CONTINUING
GUARANTY 
 Section 10.01 Loan Party Guarantee. 

Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as a guaranty of payment and performance and not merely
as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Obligations and Additional Secured Obligations (for each
Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that liability of each Guarantor individually with respect to this Loan Party Guarantee shall be limited to an aggregate amount equal
to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. The Administrative Agent’s
books and records showing the amount of the Secured Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured
Obligations. This Loan 
  
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Party Guarantee shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or
by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the
Guarantors, or any of them, under this Loan Party Guarantee, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing. 

Section 10.02 Rights of Lenders. 

Each Guarantor consents and agrees that the Secured Parties may, at any time and from time to time, without notice or demand, and without
affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Secured Obligations or any part thereof; (b) take,
hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Loan Party Guarantee or any Secured Obligations; (c) apply such security and direct the order or manner of sale thereof
as the Collateral Agent, the L/C Issuer and the Lenders in their sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of the Secured Obligations. Without limiting the generality of
the foregoing, each Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Guarantor under this Loan Party Guarantee or which, but for this provision, might operate as a
discharge of such Guarantor. 
 Section 10.03 Certain Waivers. 

Each Guarantor waives (a) any defense arising by reason of any disability or other defense of the Borrowers or any other Guarantor, or the
cessation from any cause whatsoever (including any act or omission of any Secured Party) of the liability of the Borrowers or any other Loan Party; (b) any defense based on any claim that such Guarantor’s obligations exceed or are more
burdensome than those of the Borrowers or any other Loan Party; (c) the benefit of any statute of limitations affecting any Guarantor’s liability hereunder; (d) any right to proceed against the Borrowers or any other Loan Party,
proceed against or exhaust any security for the Secured Obligations, or pursue any other remedy in the power of any Secured Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter held by any Secured
Party; and (f) to the fullest extent permitted by law, any and all other defenses or benefits that may be derived from or afforded by applicable Law limiting the liability of or exonerating guarantors or sureties. Each Guarantor expressly
waives all setoffs and counterclaims and all presentments, demands for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature
whatsoever with respect to the Secured Obligations, and all notices of acceptance of this Loan Party Guarantee or of the existence, creation or incurrence of new or additional Secured Obligations. 

Section 10.04 Obligations Independent. 

The obligations of each Guarantor hereunder are those of primary obligor, and not merely as surety, and are independent of the Secured
Obligations and the obligations of any other guarantor, and a separate action may be brought against each Guarantor to enforce this Loan Party Guarantee whether or not the Borrowers or any other person or entity is joined as a party. 

 
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 Section 10.05 Subrogation. 

No Guarantor shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it
makes under this Loan Party Guarantee until all of the Secured Obligations and any amounts payable under this Loan Party Guarantee have been indefeasibly paid and performed in full and the Commitments and the Facility are terminated. If any amounts
are paid to a Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Secured Parties to reduce the amount of the Secured Obligations,
whether matured or unmatured. 
 Section 10.06 Termination; Reinstatement. 

This Loan Party Guarantee is a continuing and irrevocable guaranty of all Secured Obligations now or hereafter existing and shall remain in
full force and effect until the Facility Termination Date. Notwithstanding the foregoing, this Loan Party Guarantee shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Borrowers or a
Guarantor is made, or any of the Secured Parties exercises its right of setoff, in respect of the Secured Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required (including pursuant to any settlement entered into by any of the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor
Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Secured Parties are in possession of or have released this Loan Party Guarantee and regardless of any prior revocation,
rescission, termination or reduction. The obligations of each Guarantor under this paragraph shall survive termination of this Loan Party Guarantee. 

Section 10.07 Stay of Acceleration. 

If acceleration of the time for payment of any of the Secured Obligations is stayed, in connection with any case commenced by or against a
Guarantor or the Borrowers under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by each Guarantor, jointly and severally, immediately upon demand by the Secured Parties. 

Section 10.08 Condition of Borrowers. 

Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrowers and any
other Guarantor such information concerning the financial condition, business and operations of the Borrowers and any such other Guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not
relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrowers or any other Guarantor (each Guarantor waiving any duty on the part of the Secured Parties to
disclose such information and any defense relating to the failure to provide the same). 
  

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 Section 10.09 Appointment of Borrowers. 

Each of the Guarantors hereby appoints the Borrowers to act as its agent for all purposes of this Agreement and the other Loan Documents and
agrees that (a) the Borrowers may execute such documents on behalf of such Guarantor as the Borrowers deem appropriate in its sole discretion and each Guarantor shall be obligated by all of the terms of any such document executed on its behalf,
(b) any notice or communication delivered by the Administrative Agent, the Collateral Agent or the Lenders to the Borrowers shall be deemed delivered to each Guarantor and (c) the Administrative Agent, the Collateral Agent or the Lenders
may accept, and be permitted to rely on, any document, instrument or agreement executed by the Borrowers on behalf of each Guarantor. 

Section 10.10 Right of Contribution. 

The Guarantors agree among themselves that, in connection with payments made hereunder, each Guarantor shall have contribution rights against
the other Guarantors as permitted under applicable Law. 
 Section 10.11 Keepwell. 

Each Loan Party that is a Qualified ECP Guarantor at the time the Loan Party Guarantee or the grant of a Lien under the Loan Documents, in each
case, by any Specified Loan Party becomes effective with respect to any Swap Obligation, hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such funds or other support to each Specified Loan Party with
respect to such Swap Obligation as may be needed by such Specified Loan Party from time to time to honor all of its obligations under the Loan Documents in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such
liability that can be hereby incurred without rendering such Qualified ECP Guarantor’s obligations and undertakings under this Article X voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for
any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Section shall remain in full force and effect until the Secured Obligations have been indefeasibly paid and performed in full. Each Loan Party intends
this Section to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations of, and a “keepwell, support, or other agreement” for the benefit of, each Specified Loan Party for all purposes of the Commodity
Exchange Act. 
 ARTICLE XI 

MISCELLANEOUS 
 Section 11.01
Amendments, Etc. 
 No amendment or waiver of any provision of this Agreement or any other Loan Document (other than such
amendments or waivers which are administrative or ministerial in nature), and no consent to any departure by the Borrowers or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrowers or
the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided,
however, that no such amendment, waiver or consent shall: 
 (a) waive any condition set forth in Section 4.01, or, in the case
of the initial Credit Extension, Section 4.02, without the written consent of each Lender; 
  

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 (b) without limiting the generality of clause (a) above, waive any condition set forth in
Section 4.02 as to any Credit Extension without the written consent of the Required Lenders; 
 (c) extend or increase the Commitment
of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the written consent of such Lender (it being understood and agreed that a waiver of any condition precedent in Section 4.02 or of any Default or a
mandatory reduction in Commitments is not considered an extension or increase in Commitments of any Lender); 
 (d) postpone any date fixed
by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal, interest, fees, reimbursement obligations or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document
without the written consent of each Lender entitled to such payment; 
 (e) reduce the principal of, or the rate of interest specified
herein on, any Loan or L/C Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees or other amounts payable or required to be reimbursed hereunder or under any other Loan Document without the written
consent of each Lender entitled to such amount; provided, however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Loan Parties to
pay interest or Letter of Credit Fees at the Default Rate; 
 (f) change any provision of Section 11.06 in a manner that imposes any
additional restriction on any Lender’s ability to assign any of its rights or obligations hereunder without the written consent of such Lender; 

(g) change Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of
each Lender; 
 (h) change any provision of this Section 11.01 or the definition of “Required Lenders” or any other provision
of any Loan Document specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or thereunder or make any determination or grant any consent hereunder, without the written consent of each Lender;

 (i) release all or substantially all of the Collateral in any transaction or series of related transactions (except with respect to
Permitted Dispositions and Investments permitted under Section 7.03), without the written consent of each Lender; 
 (j) release all or
substantially all of the value of the Loan Party Guarantee, without the written consent of each Lender, except to the extent the release of any Guarantor from the Loan Party Guarantee is permitted pursuant to Section 9.10 (in which case such
release may be made by the Administrative Agent acting alone); 
  
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 (k) release the Loan Parties from any of its obligations under this Agreement or the other Loan
Documents, or permit the Loan Parties to assign or transfer any of their rights or obligations under this Agreement or the other Loan Documents, without the consent of each Lender; 

(l) change the percentages of the formula for calculation of the Borrowing Base as set forth in the definition of “Borrowing Base”
in a manner that is intended to increase the availability under the Borrowing Base in any material respect, without the written consent of the Supermajority Lenders; provided that this clause (l) shall not limit the ability of the
Collateral Agent and the Borrowers to revise the amounts and percentages of the formula for calculation of the Borrowing Base as described in clause (z) of the definition of the term “Borrowing Base”; or 

(m) change or otherwise modify the eligibility criteria, eligible asset classes, reserves or sublimits in respect of the Borrowing Base, or
add new asset categories to the Borrowing Base, including “Eligible Project Back-Log” and “Eligible Take-Out”, if such change, modification or addition is intended to increase availability under the Borrowing Base, in each case
without the written consent of the Supermajority Lenders; provided that this clause (m) shall not limit the ability of the Collateral Agent and the Borrowers to revise the amounts and percentages of the formula for calculation of the
Borrowing Base as described in clause (z) of the definition of the term “Borrowing Base”; 
 and provided, further, that
(i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any
Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Collateral Agent in addition to the Lenders required above, affect the rights or duties of the Collateral Agent under
this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any
other Loan Document; and (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, (A) no Defaulting Lender shall have
any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender, or all Lenders or each affected Lender under the
Facility, may be effected with the consent of the applicable Lenders other than Defaulting Lenders, except that (1) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (2) any
waiver, amendment or modification requiring the consent of all Lenders or each affected Lender, or all Lenders or each affected Lender under the Facility, that by its terms affects any Defaulting Lender disproportionately adversely relative to other
affected Lenders shall require the consent of such Defaulting Lender; (B) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of
Section 1126(c) of the Bankruptcy Code of the United States supersedes the unanimous consent provisions set forth herein; and (C) the Required Lenders shall determine whether or not to allow a Loan Party to use cash collateral in the
context of a bankruptcy or insolvency proceeding and such determination shall be binding on all of the Lenders. 
  

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 Notwithstanding anything to the contrary herein the Administrative Agent may, with the prior written consent of
the Borrowers only, amend, modify or supplement this Agreement or any of the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency. 

Notwithstanding any provision herein to the contrary, this Agreement may be amended with the written consent of the Required Lenders, the Administrative Agent
and the Borrowers (I) to add one or more additional revolving credit or term loan facilities to this Agreement and to permit the extensions of credit and all related obligations and liabilities arising in connection therewith from time to time
outstanding to share ratably (or on a basis subordinated to the existing facilities hereunder) in the benefits of this Agreement and the other Loan Documents with the obligations and liabilities from time to time outstanding in respect of the
existing facilities hereunder, and (II) in connection with the foregoing, to permit, as deemed appropriate by the Administrative Agent and approved by the Required Lenders, the Lenders providing such additional credit facilities to obtain
comparable tranche voting rights with respect to each such new facility and to participate in any required vote or action required to be approved by the Required Lenders or by any other number, percentage or class of Lenders hereunder. 

If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the consent of each Lender
and that has been approved by the Required Lenders, the Borrowers may replace such Non-Consenting Lender in accordance with Section 11.13; provided that, such amendment, waiver, consent or release can be effected as a result of the
assignment contemplated by such Section (together with all other such assignments required by the Borrowers to be made pursuant to this paragraph). 

Section 11.02 Notices; Effectiveness; Electronic Communications. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax transmission
or e-mail transmission as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to any Borrower or any other Loan Party, the Administrative Agent, the Collateral Agent or the L/C Issuer, to the address, facsimile
number, e-mail address or telephone number specified for such Person on Schedule 1.01(a); and 
 (ii) if to any other Lender, to
the address, facsimile number, e-mail address or telephone number specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in
effect for the delivery of notices that may contain material non-public information relating to the Borrowers). 
  

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 Notices and other communications sent by hand or overnight courier service, or mailed by
certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by (fax transmission or e-mail transmission shall be deemed to have been given when sent (except that, if not given during normal
business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in
subsection (b) below shall be effective as provided in such subsection (b). 
 (b) Electronic Communications. Notices and
other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail address and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent;
provided that, the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving
notices under such Article by electronic communication. The Administrative Agent, the Collateral Agent, the L/C Issuer or any Loan Party may each, in its discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it; provided that, approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail address or other written acknowledgement), and (ii) notices or
communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication
is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or
communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 
 (c) The
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 BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY
DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. 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 ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent, the Collateral Agent or any of their respective Related Parties
(collectively, the “Agent Parties”) have any liability to the Loan Parties, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of any Borrower’s, any Loan Party’s, the Administrative Agent’s or the Collateral Agent’s transmission of Borrower Materials or any other Information through the Internet, telecommunications, electronic or other
information transmission systems. 
  
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 (d) Change of Address, Etc. Each of the Loan Parties, the Administrative Agent, the
Collateral Agent and the L/C Issuer may change its address, facsimile number or telephone number or e-mail address for notices and other communications hereunder by notice to the other parties hereto. Each Lender may change its address, facsimile
number or telephone number or e-mail address for notices and other communications hereunder by notice to the Loan Parties, the Administrative Agent, the Collateral Agent and the L/C Issuer. In addition, each Lender agrees to notify the
Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and e-mail address to which notices and other communications may be sent and
(ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one (1) individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or
similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States federal and
state securities Laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrowers or
their securities for purposes of United States federal or state securities laws. 
 (e) Reliance by Administrative Agent, Collateral
Agent, L/C Issuer and Lenders. The Administrative Agent, the Collateral Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic or electronic Loan Notices and Letter of Credit Applications)
purportedly given by or on behalf of any Loan Party even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms
thereof, as understood by the recipient, varied from any confirmation thereof. The Loan Parties shall indemnify the Administrative Agent, the Collateral Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses,
costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of a Loan Party. All telephonic notices to and other telephonic communications with the Administrative Agent or the
Collateral Agent may be recorded by the Administrative Agent or the Collateral Agent, and each of the parties hereto hereby consents to such recording. 

Section 11.03 No Waiver; Cumulative Remedies; Enforcement. 

No failure by any Lender, the L/C Issuer, the Administrative Agent or the Collateral Agent to exercise, and no delay by any such Person in
exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under any other Loan
Document preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything to the contrary contained herein or in
any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions 

 
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and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all
the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as
Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer) hereunder and under the other Loan Documents,
(c) any Lender from exercising setoff rights in accordance with Section 11.08 (subject to the terms of Section 2.12), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the
pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then
(i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso
and subject to Section 2.12, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

Section 11.04 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Loan Parties shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent,
the Arranger, the Collateral Agent and the L/C Issuer and their respective Affiliates (including the reasonable fees, charges and disbursements of counsel for such Persons, subject to the cap on such expenses set forth in the Fee Letter), in
connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the
provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated); (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or
extension of any Letter of Credit or any demand for payment thereunder; and (iii) all out-of-pocket expenses incurred by the Administrative Agent, the Arranger, the Collateral Agent, any Lender or the L/C Issuer and their respective Affiliates
(including the reasonable fees, charges and disbursements of any counsel for such Persons) (x) in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its
rights under this Section, or (B) in connection with Loans made or Letters of Credit issued hereunder, including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or
Letters of Credit, and (y) in connection with any documentary taxes associated with the Facility. 
 (b) Indemnification by the Loan
Parties. The Loan Parties shall indemnify the Administrative Agent and the Collateral Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each Related Party, successor and assign of any of the foregoing Persons (each such
Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the reasonable fees, charges and disbursements of counsel, which
shall include the fees of one firm of counsel for all Indemnitees, taken as a whole (and, if necessary, the fees of a single firm of local counsel in each appropriate jurisdiction for all Indemnitees, taken as a whole (and, in the case of an actual
or perceived conflict of interest, the fees of another firm of counsel (and local counsel, if 
  

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applicable) for such affected Indemnitee))), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrowers or any other Loan Party) arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations
hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other
Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment
under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous Materials on or from any property
owned or operated by a Loan Party or any of its Subsidiaries or related to any of the Projects, or any Environmental Liability related in any way to a Loan Party or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by any Borrower or any other Loan Party or any of such Borrower’s or such Loan Party’s
Affiliates, directors, equity holders or creditors, and regardless of whether any Indemnitee is a party thereto; provided that, such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted primarily from the gross negligence or willful misconduct of such Indemnitee. Without limiting the provisions of
Section 3.01(c), this Section 11.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c) Reimbursement by Lenders. To the extent that the Loan Parties for any reason fail to indefeasibly pay any amount required under
subsection (a) or (b) of this Section to be paid by it to the Administrative Agent or the Collateral Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent or the Collateral Agent (or any such sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity
payment is sought based on each Lender’s share of the Total Credit Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment to be made severally among them based
on such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), provided, further that, the unreimbursed expense or indemnified loss, claim, damage,
liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent or the Collateral Agent (or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the
foregoing acting for the Administrative Agent or the Collateral Agent (or any such sub-agent) or the L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of
Section 2.11(d). 
 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, no Loan Party
shall assert, and each Loan Party hereby waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory 
  

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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
Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be
liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems
in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a
final and nonappealable judgment of a court of competent jurisdiction. 
 (e) Payments. All amounts due under this Section shall be
payable not later than ten (10) Business Days after demand therefor. 
 (f) Survival. The agreements in this Section and the
indemnity provisions of Section 11.02(e) shall survive the resignation of the Administrative Agent, the Collateral Agent and the L/C Issuer, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment,
satisfaction or discharge of all the other Obligations. 
 Section 11.05 Payments Set Aside. 

To the extent that any payment by or on behalf of the Loan Parties is made to the Administrative Agent, the Collateral Agent, the L/C Issuer or
any Lender, or the Administrative Agent, the Collateral Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the Collateral Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if
such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent or the Collateral Agent upon demand its applicable share (without duplication) of any
amount so recovered from or repaid by the Administrative Agent or the Collateral Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in
effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement. 

Section 11.06 Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure to
the benefit of the parties hereto and thereto and their respective successors and assigns permitted hereby, except neither the Borrowers nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the
prior written consent of the Administrative Agent and no 
  
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Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section,
(ii) by way of participation in accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and
any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and
assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the L/C Issuer and
the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any
Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment(s) and the Loans (including for purposes of this
subsection (b), participations in L/C Obligations) at the time owing to it); provided that (in each case with respect to the Facility), any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment under the Facility and/or the Loans
at the time owing to it (in each case with respect to the Facility) or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the aggregate or in the case of an
assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 
 (B) in any case not
described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment
and Assumption, as of the Trade Date, shall not be less than $5,000,000 (and shall be in an amount of an integral multiple of $1,000,000), in the case of any assignment in respect of the Facility, unless each of the Administrative Agent and, so long
as no Event of Default has occurred and is continuing, the Borrowers otherwise consent (each such consent not to be unreasonably withheld or delayed). 

(ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender’s rights and obligations under this Agreement and the other Loan Documents with respect to the Loans and/or the Commitment assigned. 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B) of
this Section and, in addition: 
  
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 (A) the consent of the Borrowers (such consent not to be unreasonably withheld or delayed) shall
be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that, (i) in no event shall
any such assignment be made to any Competitor of the Loan Parties and (ii) the Borrowers shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five
(5) Business Days after having received notice thereof; 
 (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of any Commitment if such assignment is to a Person that is not a Lender with a Commitment in respect of the applicable Facility, an Affiliate of such Lender or an
Approved Fund with respect to such Lender; and 
 (C) the consent of the L/C Issuer (such consent not to be unreasonably withheld or
delayed) shall be required for any assignment in respect of the Facility. 
 (iv) Assignment and Assumption. The parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole
discretion, elect to waive or reduce such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and all applicable tax forms. 

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to any Borrower or any of the Borrowers’
Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to a natural
Person. 
 (vi) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender
hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrowers and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in full all
payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer or any Lender hereunder (and interest accrued thereon) and (B) acquire (and fund as appropriate) its full pro rata share of all Loans and
participations in Letters of Credit in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable
Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

 
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 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this
Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05
and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment); provided that, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender
will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Upon request, each Borrower (at its expense) shall execute and deliver a Revolving Note to the assignee Lender.
Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations
in accordance with subsection (d) of this Section. 
 (c) Register. The Administrative Agent, acting solely for this purpose as
an agent of the Borrowers (and such agency being solely for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent thereof in electronic form) and a
register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrowers, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrowers and any Lender, at any reasonable time and from time to time upon reasonable prior notice. Upon its receipt of, and
consent to, a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, an Administrative Questionnaire completed in respect of the assignee (unless the assignee shall already be a Lender hereunder), the processing
and recordation fee referred to in paragraph (b) above, if applicable, and the written consent of the Administrative Agent and the L/C Issuer and, if required, the Borrowers, to such assignment and any applicable tax forms, the Administrative
Agent shall (i) accept such Assignment and Assumption and (ii) promptly record the information contained therein in the Register. No assignment shall be effective unless it has been recorded in the Register as provided in this paragraph
(c). 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrowers, the Administrative Agent
or the L/C Issuer, sell participations to any Person (other than a natural Person, a Defaulting Lender or the Borrowers or any of the Borrowers’ Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such
Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans 
  

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(including such Lender’s participations in L/C Obligations) owing to it); provided that, (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrowers, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this Agreement; and provided, further, that in no event shall any such participation be sold to any Competitor of the Loan Parties. For the
avoidance of doubt, each Lender shall be responsible for the indemnity under Section 11.04(c) without regard to the existence of any participations. 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that, such agreement or instrument may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, waiver or other modification described in clauses (c), (d), (e), (i) and (j) of the first proviso to Section 11.01 that affects such Participant. The Borrowers agree that each Participant shall be entitled to
the benefits of Sections 3.01, 3.04 and 3.05, subject to the requirements and limitations herein, including the requirements under Section 3.01(e) (it being understood that the documentation required under Section 3.01(e) shall
be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that, such Participant (A) agrees to
be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04, with
respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after
the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrowers’ request and expense, to use reasonable efforts to cooperate with the Borrowers to effectuate the provisions of
Section 3.06 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it were a Lender; provided that, such Participant agrees to be subject
to Section 2.12 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers, maintain a register on which it enters the name and address of each Participant
and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that, no Lender shall have any obligation
to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan
Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

 
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 (e) Certain Pledges. Any Lender may at any time, without consent of the Loan Parties or
the Administrative Agent, pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Revolving Note or Revolving Notes, if any) to secure obligations of such Lender, including any pledge or
assignment to secure obligations, to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto. 
 (f) Resignation as L/C Issuer after Assignment. Notwithstanding anything to the contrary contained herein, if at any time
a Lender assigns all of its Commitment and Revolving Loans pursuant to subsection (b) above, such Lender may, (i) upon ten (10) days’ notice to the Borrowers and the Lenders, resign as L/C Issuer. In the event of any such
resignation as L/C Issuer, the Borrowers shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder with the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed) and such Lender;
provided, however, that no failure by the Borrowers to appoint any such successor shall affect the resignation of such Lender as L/C Issuer. If such Lender resigns as L/C Issuer, it shall retain all the rights, powers, privileges and
duties of the L/C Issuer hereunder with respect to all Letters of Credit issued by such Lender outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the
Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor L/C Issuer, (A) such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring L/C Issuer, (B) the retiring L/C Issuer shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents and (C) the successor L/C Issuer shall issue
letters of credit in substitution for the Letters of Credit issued by the retiring L/C Issuer, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the
obligations of the retiring L/C Issuer with respect to such Letters of Credit. 
 Section 11.07 Treatment of Certain Information;
Confidentiality. 
 (a) Treatment of Certain Information. Each of the Administrative Agent, the Collateral Agent, the
Lenders and the L/C Issuer agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (i) to its Affiliates and to its Related Parties (it being understood that the Persons to whom
such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (ii) to the extent required or requested by any regulatory authority having jurisdiction over such
Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (iii) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process,
(iv) to any other party hereto, (v) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (vi) subject to an agreement containing provisions substantially the same as those of this Section, to (A) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and
obligations under this Agreement or (B) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to 

 
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any Borrower and its obligations, this Agreement or payments hereunder, (vii) on a confidential basis to (1) the CUSIP Service Bureau or any similar agency in connection with the
issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder or (2) any administration, management or settlement service providers, (viii) with the consent of the Borrowers
or to the extent such Information (1) becomes publicly available other than as a result of a breach of this Section or (2) becomes available to the Administrative Agent, the Collateral Agent, any Lender, the L/C Issuer or any of their
respective Affiliates on a nonconfidential basis from a source other than the Borrowers or any Subsidiary thereof. For purposes of this Section, “Information” means all information received from the Borrowers or any Subsidiary thereof
relating to the Borrowers or any Subsidiary thereof or any of their respective businesses, other than any such information that is available to the Administrative Agent, the Collateral Agent, any Lender or the L/C Issuer on a nonconfidential basis
prior to disclosure by any Borrower or any Subsidiary thereof; all information received from any Borrower or any Subsidiary thereof relating to any Borrower or any Subsidiary thereof or any of their respective businesses shall be deemed
“Information” for purposes of this Section 11.07(a) unless marked “Public.” Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

(b) Non-Public Information. Each of the Administrative Agent, the Collateral Agent, the Lenders and the L/C Issuer acknowledges that
(i) the Information may include material non-public information concerning a Loan Party or a Subsidiary thereof, as the case may be, (ii) it has developed compliance procedures regarding the use of material non-public information and
(iii) it will handle such material non-public information in accordance with applicable Law, including United States federal and state securities Laws. 

(c) Press Releases. The Loan Parties and their Affiliates agree that they will not in the future issue any press releases or other
public disclosure using the name of the Administrative Agent, the Collateral Agent or any Lender or their respective Affiliates or referring to this Agreement or any of the Loan Documents without the prior written consent of the Administrative
Agent, unless (and only to the extent that) the Loan Parties or such Affiliates are required to do so under law and then, in any event the Loan Parties or such Affiliates will consult with such Person before issuing such press release or other
public disclosure. 
 (d) Customary Advertising Material. The Loan Parties consent to the publication by the Administrative Agent,
the Collateral Agent or any Lender of customary advertising material relating to the transactions contemplated hereby using the name, product photographs, logo or trademark of the Loan Parties; provided that, if any such advertising materials
include Borrowers’ results of operating or other non-public Information that is to be treated as confidential under this Section 11.07, the Borrowers’ consent shall be required prior to use of such Information. 

 
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 Section 11.08 Right of Setoff. 

If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other
obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrowers or any other Loan Party against any and all of the obligations of the Borrowers or such
Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer or their respective Affiliates, irrespective of whether or not such Lender, the L/C Issuer or Affiliate shall have made any demand
under this Agreement or any other Loan Document and although such obligations of the Borrowers or such Loan Party may be contingent or unmatured, secured or unsecured, or are owed to a branch, office or Affiliate of such Lender or the L/C Issuer
different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided that, in the event that any Defaulting Lender shall exercise any such right of setoff, (a) all amounts so set off shall be
paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.14 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust
for the benefit of the Administrative Agent, the L/C Issuer and the Lenders, and (b) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Secured Obligations owing to such
Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such
Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrowers or such Loan Party and the Administrative Agent promptly after any such setoff and application; provided that, the
failure to give such notice shall not affect the validity of such setoff and application. 
 Section 11.09 Interest Rate Limitation.

 Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan
Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the
excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrowers. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender
exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects
thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

Section 11.10 Counterparts; Integration; Effectiveness. 

This Agreement and each of the other Loan Documents may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which taken together shall constitute a single contract. This Agreement, the other Loan Documents, and any separate letter agreements with respect to fees payable to the
Administrative Agent, the Collateral Agent or the L/C Issuer, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous 

 
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agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been
executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature
page of this Agreement or any other Loan Document, or any certificate delivered thereunder, by fax transmission or other e-mail transmission (e.g., “pdf” or “tif”) shall be effective as delivery of an original executed
counterpart of this Agreement or such other Loan Document or certificate. Without limiting the foregoing, to the extent an original executed counterpart is not specifically required to be delivered under the terms of any Loan Document, upon the
request of any party, such fax transmission or e-mail transmission shall be promptly followed by delivery of such original executed counterpart. 

Section 11.11 Survival of Representations and Warranties. 

All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in
connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by
the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and
effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

Section 11.12 Severability. 

If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity
and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or
unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be
limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent or the L/C Issuer, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 

Section 11.13 Replacement of Lenders. 

If the Borrowers are entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting Lender or a
Non-Consenting Lender or if any other circumstance exists hereunder that gives the Borrowers the right to replace a Lender as a party hereto, then the Borrowers may, at their sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in 
  
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accordance with and subject to the restrictions contained in, and consents required by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant to
Sections 3.01 and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment);
provided that: 
 (a) the Borrowers shall have paid to the Administrative Agent the assignment fee (if any) specified in
Section 11.06(b); 
 (b) such Lender shall have received payment of an amount equal to 100% of the outstanding principal of its
Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee (to the extent of such outstanding
principal and accrued interest and fees) or the Borrowers (in the case of all other amounts); 
 (c) in the case of any such assignment
resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d) such assignment does not conflict with applicable Laws; and 

(e) in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the
applicable amendment, waiver or consent. 
 A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a
result of a waiver by such Lender or otherwise, the circumstances entitling the Borrowers to require such assignment and delegation cease to apply. 

Section 11.14 Governing Law; Jurisdiction; Etc. 

(a) GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN)
AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH
THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) SUBMISSION TO JURISDICTION. THE BORROWERS AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREE THAT IT WILL NOT COMMENCE
ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE 
  
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TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF
NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE
HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE
AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, ANY LENDER
OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWERS OR ANY OTHER LOAN PARTY OR THEIR PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. THE BORROWERS AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS
SECTION 11.14. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

Section 11.15 Waiver of Jury Trial. 

EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE 

 
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FOREGOING WAIVER AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.15. 
 Section 11.16 Subordination. 

Each Loan Party (a “Subordinating Loan Party”) hereby subordinates the payment of all obligations and indebtedness of any
other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any obligation of any such other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such Subordinating
Loan Party’s performance under this Loan Party Guarantee, to the indefeasible payment in full in cash of all Obligations. If the Secured Parties so request, any such obligation or indebtedness of any such other Loan Party to the Subordinating
Loan Party shall be enforced and performance received by the Subordinating Loan Party as trustee for the Secured Parties and the proceeds thereof shall be paid over to the Secured Parties on account of the Secured Obligations, but without reducing
or affecting in any manner the liability of the Subordinating Loan Party under this Agreement. Without limitation of the foregoing, so long as no Default has occurred and is continuing, the Loan Parties may make and receive payments with respect to
Intercompany Debt; provided, that in the event that any Loan Party receives any payment of any Intercompany Debt at a time when such payment is prohibited by this Section, such payment shall be held by such Loan Party, in trust for the
benefit of, and shall be paid forthwith over and delivered, upon written request, to the Administrative Agent. 
 Section 11.17 No Advisory or
Fiduciary Responsibility. 
 In connection with all aspects of each transaction contemplated hereby (including in connection
with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrowers and each other Loan Party acknowledge and agree, and acknowledge their respective Affiliates’ understanding, that: (a) (i) the
arranging and other services regarding this Agreement provided by the Administrative Agent and any Affiliate thereof, the Arranger and the Lenders are arm’s-length commercial transactions between the Borrowers, each other Loan Party and their
respective Affiliates, on the one hand, and the Administrative Agent and its Affiliates (including the Arranger), the L/C Issuer and its Affiliates, the Collateral Agent and its Affiliates and the Lenders and their Affiliates , on the other hand,
(ii) each of the Borrowers and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrowers and each other Loan Party are capable of
evaluating, and understand and accept, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b) (i) the Administrative Agent and its Affiliates (including the Arranger), the L/C Issuer
and its Affiliates, the Collateral Agent and its Affiliates and each Lender and its Affiliates each are and have been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, have not been, are not, and will
not be acting as an advisor, agent or fiduciary, for the Borrowers, any other Loan Party or any of their respective Affiliates, or any other Person and (ii) none the Administrative Agent and any of its Affiliates (including the Arranger), the
L/C Issuer and any of its Affiliates, the Collateral Agent and any of its Affiliates, or any Lender and any of its Affiliates has any obligation to the Borrowers, any other Loan Party or any of their respective Affiliates with respect to the 

 
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transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) the Administrative Agent and its Affiliates (including the
Arranger), the L/C Issuer and its Affiliates, the Collateral Agent and its Affiliates, and the Lenders and their Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrowers, the other
Loan Parties and their respective Affiliates, and none the Administrative Agent and any of its Affiliates (including the Arranger), the L/C Issuer and any of its Affiliates, the Collateral Agent and any of its Affiliates, or any Lender and any of
its Affiliates has any obligation to disclose any of such interests to the Borrowers, any other Loan Party or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrowers and each other Loan Party hereby waives
and releases any claims that it may have against the Administrative Agent and any of its Affiliates (including the Arranger), the L/C Issuer and any of its Affiliates, the Collateral Agent and any of its Affiliates, or any Lender and any of its
Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transactions contemplated hereby. 

Section 11.18 Electronic Execution of Assignments and Certain Other Documents. 

The words “execute,” “execution,” “signed,” “signature,” and words of like import in any Assignment and
Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by
the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may
be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the
Uniform Electronic Transactions Act. 
 Section 11.19 USA PATRIOT Act Notice. 

Each Lender that is subject to the PATRIOT Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the
Borrowers and the other Loan Parties that pursuant to the requirements of PATRIOT Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and
other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the PATRIOT Act. The Borrowers and the other Loan Parties agree to, promptly following a request by the
Administrative Agent or any Lender and no later than five (5) Business Days prior to the Closing Date, provide all such other documentation and information that the Administrative Agent or such Lender requests in order to comply with its
ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act. 

Section 11.20 Time of the Essence. 

Time is of the essence of the Loan Documents. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 156 

 Section 11.21 No Novation. 

The Loan Parties, the Administrative Agent and the Lenders hereby agree that, effective upon the execution and delivery of this Agreement by
each such party, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, restated and superseded in their entirety by the terms and provisions of this Agreement. Nothing herein contained shall be construed as a
substitution or novation of the obligations of the Loan Parties outstanding under the Existing Credit Agreement or instruments securing the same, which obligations shall remain in full force and effect, except to the extent that the terms thereof
are modified hereby or by instruments executed concurrently herewith. Nothing expressed or implied in this Agreement shall be construed as a release or other discharge of the Loan Parties, or any guarantor from any of its obligations or liabilities
under the Existing Credit Agreement or any of the notes, security agreements, pledge agreements, mortgages, guaranties or other loan documents executed in connection therewith. The Loan Parties hereby (i) confirm and agree that each Loan
Document to which it is a party is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that on and after the Closing Date all references in any such Loan Document to “the Credit
Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Existing Credit Agreement shall mean the Existing Credit Agreement as amended and restated by this Agreement; and
(ii) confirm and agree that to the extent that the Existing Credit Agreement or any Loan Document executed in connection therewith purports to assign or pledge to the Administrative Agent, for the benefit of Lenders, or to grant to
Administrative Agent, for the benefit of the Lenders, a security interest in or lien on, any collateral as security for the Obligations of the Loan Parties from time to time existing in respect of the Existing Credit Agreement, such pledge,
assignment or grant of the security interest or lien is hereby ratified and confirmed in all respects and shall remain effective as of the first date it became effective. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.] 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

  
 157 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as
of the date first above written. 
  

							
	BORROWERS:				 SUNRUN INC.,
 a
Delaware corporation

				
					By:		 /s/ Mina Kim

					Name:		Mina Kim
					Title:		General Counsel
			
					 AEE SOLAR, INC.,
 a
California corporation

				
					By:		 /s/ Mina Kim

					Name:		Mina Kim
					Title:		General Counsel
			
					 SUNRUN SOUTH LLC, 

a Delaware limited liability company

				
					By:		 /s/ Mina Kim

					Name:		Mina Kim
					Title:		General Counsel
			
					 SUNRUN INSTALLATION SERVICES INC., 

a Delaware corporation

				
					By:		 /s/ Mina Kim

					Name:		Mina Kim
					Title:		General Counsel

  
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 
 [Signature Page to Credit Agreement] 

 
			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as Administrative Agent

		
	By:		 /s/ Mikhail Faybusovich

	Name:		Mikhail Faybusovich
	Title:		Authorized Signatory
		
	By:		 /s/ Samuel Miller

	Name:		Samuel Miller
	Title:		Authorized Signatory

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 CREDIT SUISSE SECURITIES (USA) LLC,

as Arranger

		
	By:		 /s/ Ted Michaels

	Name:		Ted Michaels
	Title:		Director

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 SILICON VALLEY BANK,

as Collateral Agent

		
	By:		 /s/ Jordan Kanis

	Name:		Jordan Kanis
	Title:		Vice President

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as a Lender

		
	By:		 /s/ Mikhail Faybusovich

	Name:		Mikhail Faybusovich
	Title:		Authorized Signatory
		
	By:		 /s/ Samuel Miller

	Name:		Samuel Miller
	Title:		Authorized Signatory

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 GOLDMAN SACHS BANK USA,

as a Lender

		
	By:		 /s/ Rebecca Kratz

	Name:		Rebecca Kratz
	Title:		Authorized Signatory

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 MORGAN STANLEY SENIOR FUNDING, INC.,

as a Lender

		
	By:		 /s/ Michael King

	Name:		Michael King
	Title:		Vice President

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 ROYAL BANK OF CANADA,

as a Lender

		
	By:		 /s/ Mary Elizabeth Mandanas

	Name:		Mary Elizabeth Mandanas
	Title:		Authorized Signatory

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 COMERICA BANK,
 as a
Lender

		
	By:		 /s/ Robert Hernandez

	Name:		Robert Hernandez
	Title:		Senior Vice President

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 KEYBANK NATIONAL ASSOCIATION,

as a Lender

		
	By:		 /s/ Lisa A. Ryder

	Name:		Lisa A. Ryder
	Title:		Vice President

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 
			
	 SILICON VALLEY BANK,

as a Lender

		
	By:		 /s/ Jordan Kanis

	Name:		Jordan Kanis
	Title:		Vice President

  
 [***] Confidential treatment has been requested
for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

[Signature Page to Credit Agreement] 

 EXECUTION VERSION 

SCHEDULE 1.01(a) 

Certain Addresses for Notices 

Borrowers: 
 Sunrun Inc. 

595 Market Street, 29th Floor 
 San Francisco, CA 94105 

Attn: General Counsel 
 Phone: 415-580-6900 

Email: legalteam@sunrun.com 
 Facsimile: 415-727-3500 

AEE Solar, Inc. 
 595 Market Street, 29th Floor 

San Francisco, CA 94105 
 Attn: General Counsel 

Phone: 415-580-6900 
 Email: legalteam@sunrun.com 

Facsimile: 415-727-3500 
 Sunrun Installation Services Inc. 

595 Market Street, 29th Floor 
 San Francisco, CA 94105 

Attn: General Counsel 
 Phone: 415-580-6900 

Email: legalteam@sunrun.com 
 Facsimile: 415-727-3500 

Sunrun South LLC 
 595 Market Street, 29th Floor 

San Francisco, CA 94105 
 Attn: General Counsel 

Phone: 415-580-6900 
 Email: legalteam@sunrun.com 

Facsimile: 415-727-3500 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 Guarantors: 

LH Merger Sub 2, LLC1 

Administrative Agent: 
 Credit Suisse, US Agency 

Administrative Agent’s Wire Instructions: 
 Name of
Bank: Bank of New York 
 Collateral Agent: 
  

			
	Silicon Valley Bank		
	3003 Tasman Drive		
	Santa Clara, CA 95054		
		
	Primary		Secondary
	Attn: Jordan Kanis		Attn: Ben Fargo

  

	1 	The company plans to change its name to Clean Energy Experts LLC shortly following the Closing Date. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 L/C Issuers: 
  

			
	Silicon Valley Bank		
	3003 Tasman Drive		
	Santa Clara, CA 95054		
		
	Primary		Secondary
	Attn: Honeylynn Garcia		Attn: Sherry Balceta
		
	Comerica Bank		
	 250 Lytton Avenue, 3rd Floor
 Palo Alto, CA.
94301
		
		
	Primary		Secondary
	Attn: Robert Hernandez		Attn: Marissa De Guzman
	Facsimile: 650-462-6049		Facsimile: 650-462-6049

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 1.01(b) 

Initial Commitments and Applicable Percentages 
  

									
	 Lender
	  	Commitment	 	 	Applicable Percentage	 
	 Credit Suisse AG, Cayman Islands Branch
	  	$	[***	] 	 	 	[***]	% 
	 Morgan Stanley Senior Funding, Inc.
	  	$	[***	] 	 	 	[***]	% 
	 Goldman Sachs Bank USA
	  	$	[***	] 	 	 	[***]	% 
	 KeyBank National Association
	  	$	[***	] 	 	 	[***]	% 
	 Silicon Valley Bank
	  	$	[***	] 	 	 	[***]	% 
	 Royal Bank of Canada
	  	$	[***	] 	 	 	[***]	% 
	 Comerica Bank
	  	$	[***	] 	 	 	[***]	% 
		  	  
	  
	 	 	  
	  
	 
	 Total
		$	[***	] 		 	100.000000000	% 
		  	  
	  
	 	 	  
	  
	 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 1.01(c) 

Authorized Officers 
  

			
	 Name
	  	 Title

	Lynn Jurich	  	Chief Executive Officer
	Edward Fenster	  	Chairman of the Board
	Mina Kim	  	General Counsel
	Bob Komin	  	Chief Financial Officer

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Schedule 1.01(d) 

Existing Letters of Credit 
  

									
	 Letter of Credit No.
	  	Amount	 	 	Beneficiary	 
	 661266
	  	$	[***	] 	 	 	[***	] 
	 660497
	  	$	[***	] 	 	 	[***	] 
	 660496
	  	$	[***	] 	 	 	[***	] 
	 662146
	  	$	[***	] 	 	 	[***	] 
	 655547
	  	$	[***	] 	 	 	[***	] 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 1.01(e) 

Mortgaged Property Support Documentation 

“Mortgaged Property Support Documents” means the following, all in form and substance satisfactory to the Collateral Agent: 

Mortgages and Assignment of Leases and Rents. Fully executed and notarized Mortgages and, to the extent required by the Collateral Agent, Assignment of
Leases and Rents for each property required to become a Mortgaged Property pursuant to the terms of the Loan Documents. 
 Mortgage Policies. Fully
paid American Land Title Association Lender’s Extended Coverage title insurance policies in form and substance reasonably acceptable to the Collateral Agent (the “Mortgage Policies”), with endorsements and in amounts acceptable
to the Collateral Agent, issued, coinsured and reinsured by title insurers acceptable to the Collateral Agent, insuring the Mortgages to be valid first and subsisting Liens on the property described therein, free and clear of all defects (including,
but not limited to, mechanics’ and materialmen’s Liens) and encumbrances, excepting only Permitted Liens, and providing for such other affirmative insurance (including endorsements for future advances under the Loan Documents, for
mechanics’ and materialmen’s Liens and for zoning of the applicable property) and such coinsurance and direct access reinsurance as the Collateral Agent may deem necessary or desirable. Further, each Loan Party agrees to provide or obtain
any customary affidavits and indemnities as may be required or necessary to obtain title insurance satisfactory to the Collateral Agent. 
 Survey.
American Land Title Association/American Congress on Surveying and Mapping form as-built surveys, for which all necessary fees (where applicable) have been paid, and dated, certified to the Collateral Agent and the issuer of the Mortgage Policies
(the “Title Insurance Company”) in a manner satisfactory to each of the Collateral Agent and the Title Insurance Company by a land surveyor duly registered and licensed in the States in which the property described in such surveys
is located and acceptable to each of the Collateral Agent and the Title Insurance Company, showing all buildings and other improvements, any off-site improvements, the location of any easements, parking spaces, rights of way, building set-back lines
and other dimensional regulations and the absence of encroachments, either by such improvements or on to such property, and other defects, other than encroachments and other defects acceptable to the Collateral Agent. 

Flood Hazard Information. (i) Flood hazard certificates and evidence of flood insurance, both as required by The National Flood Insurance Reform
Act of 1994, as amended, and as required by the Collateral Agent. (ii) The information required to be delivered pursuant to Schedule 5.21(g)(i) no later than fifteen (15) days prior to the Closing Date (or, with respect to any
Person to be joined as a Loan Party, such joinder date). 
 Insurance. Evidence of the insurance required by the terms of the Mortgages and the Loan
Documents. 
  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Appraisal. An appraisal of each of the properties described in the Mortgages complying with the
requirements of the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989, which appraisals shall be in form and substance reasonably satisfactory to the Collateral Agent and from a Person acceptable to the Collateral Agent.

 Legal Opinions. To the extent requested by the Collateral Agent, favorable opinions of counsel to the Loan Parties for each jurisdiction in which
the Mortgaged Properties are located which opinions shall be in form and substance reasonably acceptable to Collateral Agent and its counsel. 
 Property
Reports. Satisfactory third-party engineering, soils, environmental reports/reviews and other reports of all owned Mortgaged Properties, and to the extent requested by the Collateral Agent, all leased Mortgaged Properties, from professional
firms acceptable to the Collateral Agent, including, but not limited to Phase I environmental assessments, together with reliance letters in favor of the Lenders. 

Leased Real Property Documents. To the extent requested by the Collateral Agent, all lease agreements between the applicable leasing entity and each of
the lessors of the leased real properties listed on Schedule 5.21(g)(i) and Schedule 5.21(g)(ii) (as applicable) and estoppel and consent agreements executed by each of the lessors of the leased real properties listed on Schedule
5.21(g)(i) and Schedule 5.21(g)(ii) (as applicable), along with (i) a memorandum of lease in recordable form with respect to such leasehold interest, executed and acknowledged by the owner of the affected real property, as lessor, or
(ii) evidence that the applicable lease with respect to such leasehold interest or a memorandum thereof has been recorded in all places necessary or desirable, in the Collateral Agent’s reasonable judgment, to give constructive notice to
third-party purchasers of such leasehold interest, or (iii) if such leasehold interest was acquired or subleased from the holder of a recorded leasehold interest, the applicable assignment or sublease document, executed and acknowledged by such
holder, in each case in form sufficient to give such constructive notice upon recordation and otherwise in form and substance reasonably satisfactory to the Collateral Agent. 

Estoppels and SNDA. To the extent requested by the Collateral Agent, as to owned properties, copies of the leases listed on
Schedule 5.21(g)(i) and Schedule 5.21(g)(ii) (as applicable), along with (i) estoppel certificates, from the lessees for such leased properties and (ii) subordination, non-disturbance and attornment agreements in form
and substance reasonably satisfactory to the Collateral Agent from those tenants of such leased properties. 
 Other Real Property Information. The
Collateral Agent shall have received such other certificates, documents and information as are reasonably requested by the Lenders, including, without limitation, landlord agreements/waivers, engineering and structural reports, permanent
certificates of occupancy and evidence of zoning compliance, each in form and substance reasonably satisfactory to the Collateral Agent. 
 Collateral /
Further Assurances / Additional Evidence. At any time, and from time to time, upon reasonable request by the Collateral Agent or any Lender, each Loan Party will, at such Loan Party’s expense, (i) correct any defect, error or omission
which may be discovered in the form or content of any of the Loan Documents, and (ii) make, execute, deliver and record, or cause to be 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 
made, executed, delivered and recorded, any and all further instruments, certificates and other documents as may, in the reasonable opinion of Collateral Agent or any Lender, be necessary or
desirable in order to complete, perfect or continue and preserve the Liens and security interests of the Mortgages. Upon any failure by such Loan Party to do so, the Collateral Agent may make, execute and record any and all such instruments,
certificates and other documents for and in the name of such Loan Party, all at the sole expense of such Loan Party, and such Loan Party hereby appoints the Collateral Agent the agent and attorney-in-fact of such Loan Party to do so, this
appointment being coupled with an interest and being irrevocable. Without limitation of the foregoing, each Loan Party irrevocably authorizes the Collateral Agent at any time and from time to time to file any financing statements, amendments thereto
and continuation statements deemed necessary or desirable by the Collateral Agent to establish or maintain the validity, perfection and priority of the Liens and security interests granted in the Mortgages, and each Loan Party ratifies any such
filings made by the Collateral Agent prior to the date hereof. From and after the time any Mortgage is recorded and encumbers a Mortgaged Property pursuant to the terms hereof, such Loan Party shall promptly deliver to the Collateral Agent a copy of
each such instrument and evidence of its proper filing or recording, as necessary. From and after the time any Mortgage is recorded and encumbers a Mortgaged Property pursuant to the terms hereof, such Loan Party will cause all of the applicable
Collateral to be subject at all times to first priority, perfected Liens in favor of the Collateral Agent for the benefit of the Lenders to secure the Secured Obligations pursuant to the terms and conditions of the Loan Documents. Further, Borrower
shall provide such other assurances, certificates, documents, consents or opinions as Collateral Agent or any Lender may reasonably require. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 4.01(t) 

No Litigation 
 See
attached. 
 Litigation Schedule 
 As of
March 31, 2015 
 [***] 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.06 

Litigation 
 See Schedule
4.01(t). 
  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.10 

Insurance 
 See attached.

  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.10 

Insurance 
  

 Property 

General Requirements. Lessee shall, without cost to Lessor, maintain or cause to be maintained in effect at all times on and after the Effective
Date until all obligations of the Lessee pursuant to this Agreement have been fully discharged, the types of insurance required by the following provisions together with any other types of insurance required hereunder or any Customer Agreement with
respect to the System in each Project, in such form reasonably acceptable to Lesser, with insurance companies rated “A-” or better, with a minimum size rating of “VT” as determined by A.M. Best (or an equivalent rating by another
nationally recognized insurance rating agency of similar standing if A.M. Best ratings shall no longer be published) or other companies reasonably satisfactory to the Company: 

All-Risk Property / Electrical Breakdown. “All-Risk” property insurance (as such term is used in the insurance
industry), including coverage for electrical breakdown or “electrical arcing” plus resulting or ensuing damage arising out of design error or faulty workmanship, the perils of flood, named windstorm, hail, lightning, strike, riot and civil
commotion, sabotage, damage caused by freezing or ice, vandalism and malicious mischief, subject to terms that are consistent with current industry practice, insuring all real and personal property included in each Project once such Project has
become a Leased Project pursuant to and in accordance with the Agreement. Coverage shall be maintained in an amount that is not less than the total replacement cost value of the Systems at all Project locations. 

Sublimits are permitted with respect to coverages customarily sub-limited and/or aggregated or restricted in amounts consistent with current
industry practice with respect to similar risks, including, without limitation, extra expense, expediting expense and ordinance or law coverage (including the increased cost of construction to comply with the enforcement of any law that regulates
the construction or repair of damaged property including the cost to demolish undamaged portions of the Systems of any Project), debris removal, pollutant cleanup, and professional fees. 

Such policy shall provide: (i) an automatic reinstatement of limits following each loss but excepting the perils of flood and earthquake
(if provided) and pollution cleanup only for which annual aggregate sublimits may be provided in accordance with the terms of this Exhibit, (ii) a replacement cost valuation endorsement with no deduction for depreciation and no coinsurance
clauses (or a waiver thereof); and (iii) coverage for physical damage that is not covered by warranty or guaranty to the extent normally insured. 

  
  

1 of 3  |  Page 

 [***] Confidential treatment has been requested for bracketed portions. The confidential redacted portion
has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.10 

Insurance 
  

 Liability 

Commercial General Liability. Commercial general liability insurance for operations of each Project (including Systems in each
Project), written on “occurrence” policy forms, including coverage for premises/operations, products/completed operations, broad form property damage, blanket contractual liability, and personal injury, with no exclusions for explosion,
collapse and underground perils, or fire with primary coverage limits of no less than $1,000,000 per occurrence and $2,000,000 annual aggregate for injuries or death to one or more persons or damage to property resulting from any one occurrence, and
a products and completed operations liability aggregate limit of not less than $2,000,000. The commercial general liability policy shall also include a severability of interest clause with no exclusions or limitations on cross liability. Deductibles
in excess of $25,000 shall be subject to review and approval by Lessor. 
 Automobile Liability. If at any time Lessee owns or
leases any automobile, or uses any non-owned automobile to carry out its operations, automobile liability insurance, including coverage for owned, non-owned and hired automobiles (as applicable) for both bodily injury and property damage in
accordance with statutory legal requirements, with combined single limits of no less than $1,000,000 per accident with respect to bodily injury, property damage or death. Automobile liability may be obtained through endorsement to the general
liability policy required in Section 1.1(c) above. Deductibles in excess of $10,000 shall be subject to review and approval by Lessor in consultation with its insurance consultant. 

Workers Compensation. If at any time Lessee has direct employees, workers compensation insurance in accordance with statutory
requirements, including coverage for employer’s liability with a limit of not less than $1,000,000 and such other forms of insurance which Lessee is required by law to provide for loss resulting from injury, sickness, disability or death of the
employees of Lessee. Deductibles in excess of $10,000 shall be subject to review and approval by Lessor in consultation with its insurance consultant. 

Umbrella or Excess. Umbrella or excess liability insurance of not less than $20,000,000 per occurrence and $20,000,000 in the
annual aggregate following the Placed in Service date of each Project (inclusive of the requirements and limits in Sections 1.1(c), (d) and (e)). Such coverage shall be on a per occurrence or claims made basis and over and above coverage
provided by the policies described in Sections 1.1(c), (d) and (e) with respect to employer’s liability. If the policy or policies provided under this Section 1.1(f) contain(s) aggregate limits, and such limits are reduced by
more than $10,000,000 during the applicable policy term by any one or more incidents, occurrences, claims, settlements or judgments against such insurance which has caused the insurer to establish a reserve, the Service Provider shall, within
(10) Business Days after obtaining knowledge of such event inform Lessor and Lessee, and within thirty (30) Business Days thereafter, purchase an additional umbrella/excess liability insurance policy satisfying the requirements of this
Section 1.1(f), unless waived by Lessor in consultation with its insurance consultant. Deductibles in excess of $10,000 shall be subject to review and approval by Lessor in consultation with its insurance consultant. 

  
  

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 [***] Confidential treatment has been requested for bracketed portions. The confidential redacted portion
has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.10 

Insurance 
  

 Special Provisions 

Named Insured / Loss Payable Provisions. Lessee shall cause all property related policies of insurance required to be maintained
pursuant Sections 1.1(a) of this Exhibit to be placed by Service Provider with Lessee as the First Named Insured and Service Provider as the loss payee for all losses relevant to Systems in the Projects. 

Non-Vitiation. Service Provider shall cause all property related policies of insurance required to be maintained pursuant to
Sections 1.1(a) of this Exhibit to insure the interests of Lessee regardless of any breach or violation by Service Provider or its Affiliates of any warranties, declarations or conditions contained in such policies, or any action or inaction (the
foregoing may be accomplished by the use of an approved severability of interest or multiple insureds clause). 
 Notice of
Cancellation. All policies of insurance required in Section 1.1 of this Exhibit shall provide thirty (30) days written notice of cancellation to Lessee, with the exception of ten (10) days’ notice for nonpayment of
premium. To the extent an endorsement of the required policies to provide such written notice of cancellation or material change to Lessor is not commercially available Lessee shall be obligated to provide the required written notice of cancellation
or material change to Lessor within 5 days of receipt from the insurance company. 
 Certification of Compliance. Lessee (or, to the extent
Services Provider maintains such policy under the O&M Agreement, Services Provider) shall deliver to Lessor on or before the Effective Date, and annually thereafter with respect to the renewal date of each insurance policy required to be
maintained by it pursuant to this Exhibit I, certificates of insurance executed by the insurer or its duly authorized representative indicating the types, amounts, deductibles and terms and conditions required herein, accompanied by a letter from
Lessee’s (or, to the extent Services Provider maintains such policy under the O&M Agreement, Service Provider’s) insurance broker certifying to Lessor that the proposed renewal policy (or policies) satisfies the requirements of this
Exhibit I, coverage is in full force and effect and all premiums then due have been paid or are not in arrears. Complete copies of any policies required pursuant to this Exhibit I shall be supplied to Lessor upon request (to the extent available at
that time). 

  
  

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 [***] Confidential treatment has been requested for bracketed portions. The confidential redacted portion
has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.20(a)  

Subsidiaries, Partnerships and Other Equity Investments 
  

									
	 Entity Name
	  	 Jurisdiction
	  	 Registered Owner
	  	Percentage of
Ownership	 
	 Sunrun South LLC
	  	Delaware	  	Sunrun Inc.	  	 	100	% 
				
	 AEE Solar, Inc.
	  	California	  	Sunrun South, LLC	  	 	100	% 
				
	 Sunrun Installation Services, Inc.
	  	Delaware	  	Sunrun South, LLC	  	 	100	% 
				
	 LH Merger Sub 2, LLC4
	  	California	  	Sunrun Inc.	  	 	100	% 
				
	 Sunrun Aurora Holdco 2014, LLC
	  	Delaware	  	Sunrun Inc.	  	 	100	% 
				
	 Sunrun Aurora Portfolio 2014-A, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-B, LLC1	  	 	100	% 
				
	 Sunrun Aurora Portfolio 2014-B, LLC
	  	Delaware	  	Sunrun Aurora Holdco 2014, LLC, managed by its sole member Sunrun Inc.	  	 	100	% 
				
	 Sunrun Aurora Manager 2014, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-A, LLC2	  	 	100	% 
				
	 SunRun Solar Owner I, LLC
	  	California	  	Sunrun Aurora Manager 2014, LLC3	  	 	100	% 
				
	 SunRun Solar Owner II, LLC
	  	California	  	Sunrun Aurora Manager 2014, LLC3 	  	 	100	% 
				
	 SunRun Solar Owner III, LLC
	  	California	  	Sunrun Aurora Manager 2014, LLC3 	  	 	100	% 
				
	 SunRun Solar Tenant I, LLC
	  	California	  	Sunrun Aurora Manager 2014, LLC3 	  	 	100	% 
				
	 SunRun Solar Tenant II, LLC
	  	California	  	Sunrun Aurora Manager 2014, LLC3 	  	 	100	% 
				
	 SunRun Solar Tenant III, LLC
	  	California	  	Sunrun Aurora Manager 2014, LLC3 	  	 	100	% 
				
	 SunRun Solar Owner Holdco VIII, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-A, LLC2	  	 	100	% 
				
	 Sunrun Solar Owner Holdco XI, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC2	  	 	100	% 

  

	1 	Sunrun Aurora Portfolio 2014-B, LLC is managed by its sole member Sunrun Aurora Holdco, LLC which is managed by its sole member Sunrun Inc. 

	2 	Sunrun Aurora Portfolio 2014-A, LLC is managed by its sole member, Sunrun Aurora Portfolio 2014-B, LLC which is managed by its sole member Sunrun Aurora Holdco 2014, LLC which is managed by its sole member Sunrun Inc.

	3 	Sunrun Aurora Manager 2014, LLC is managed by its sole member, Sunrun Aurora Portfolio 2014-A, LLC which is managed by its sole member, Sunrun Aurora Portfolio 2014-B, LLC which is managed by its sole member Sunrun
Aurora Holdco 2014, LLC which is managed by its sole member Sunrun Inc. 

	4	The company plans to change its name to Clean Energy Experts LLC shortly following the Closing Date. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

									
				
	 Sunrun Solar Owner Holdco XII, LLC
		Delaware		Sunrun Aurora Portfolio 2014-A, LLC2		 	100	% 
				
	 Sunrun Solar Owner Holdco XVII, LLC
		Delaware		Sunrun Aurora Portfolio 2014-A, LLC2		 	100	% 
				
	 Sunrun Solar Owner Holdco XVIII, LLC
		Delaware		Sunrun Aurora Portfolio 2014-A, LLC2		 	100	% 
				
	 SunRun Solar Owner VIII, LLC
		Delaware		JPM Capital Corporation		 	Variable	  
					SunRun Solar Owner Holdco VIII, LLC		 	Variable	  
				
	 SunRun Solar Owner XVIII, LLC
		Delaware		JPM Capital Corporation		 	Variable	  
					Sunrun Solar Owner Holdco XVIII, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC2		 	Variable	  
				
	 SunRun Solar Owner XI, LLC
		California		SunRun Solar Tenant XI, LLC, managed by its sole member Sunrun Solar Owner Holdco XI, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC2		 	49.99	  
					Sunrun Solar Owner Holdco XI, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC2		 	50.01	  
				
	 SunRun Solar Owner XII, LLC
		Delaware		Antrim Corporation		 	Variable	  
					Sunrun Solar Owner Holdco XII, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC2		 	Variable	  
				
	 SunRun Solar Owner XVII, LLC
		Delaware		Antrim Corporation		 	Variable	  
					Sunrun Solar Owner Holdco XVII, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC2		 	Variable	  
				
	 SunRun Solar Tenant XI, LLC
		California		Firstar Development, LLC		 	99.99	% 
					Sunrun Solar Owner Holdco XI, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC2		 	0.01	% 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

									
				
	 Sunrun Solar Owner Holdco XVI, LLC
		Delaware		Sunrun Inc.		 	100	% 
				
	 Sunrun Solar Owner XVI, LLC
		Delaware		Sunrun Solar Owner Holdco XVI, LLC		 	51	% 
					Sunrun Solar Tenant XVI, LLC		 	49	% 
				
	 Sunrun Solar Tenant XVI, LLC
		Delaware		Sunrun Solar Owner Holdco XVI, LLC		 	1	% 
					Firstar Development, LLC		 	99	% 
				
	 Sunrun Holdco XIV, LLC
		Delaware		Sunrun Inc.		 	100	% 
				
	 Sunrun Solar Owner Holdco XIV, LLC
		Delaware		Sunrun Holdco XIV, LLC		 	100	% 
				
	 SunRun Solar Owner VI, LLC
		California		Sunrun Solar Owner Holdco XIV, LLC		 	50.01	% 
					SunRun Solar Tenant VI, LLC		 	49.99	% 
				
	 SunRun Solar Tenant VI, LLC
		California		Sunrun Solar Owner Holdco XIV, LLC		 	0.01	% 
					Firstar Development, LLC		 	99.99	% 
				
	 SunRun Solar Owner IV, LLC
		California		Sunrun Solar Owner Holdco XIV, LLC		 	50.01	% 
					SunRun Solar Tenant IV, LLC		 	49.99	% 
				
	 SunRun Solar Tenant IV, LLC
		California		Sunrun Solar Owner Holdco XIV, LLC		 	0.01	% 
					SunRun IV Investment Fund, LLC		 	99.99	% 
				
	 SunRun Pacific Solar, LLC
		Delaware		Sunrun Solar Owner Holdco XIV, LLC		 	Variable	  
					Pacific Energy Capital, LLC		 	Variable	  
				
	 SunRun Solar Owner V, LLC
		California		Sunrun Inc.		 	100	% 
				
	 SunRun Solar Owner VII, LLC
		California		Sunrun Inc.		 	100	% 
				
	 SR Lease Co II, LLC
		Delaware		Stanton Equity Trading Delaware, LLC		 	90	% 
					Sunrun Inc.		 	10	% 
				
	 Sunrun Solar Owner Holdco XV, LLC
		Delaware		Sunrun Inc.		 	100	% 
				
	 SunRun Solar Owner XV, LLC
		Delaware		Sunrun Solar Owner Holdco XV, LLC		 	100	% 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

									
				
	 Sunrun Solar Owner IX, LLC
		Delaware		Sunrun Inc.		 	100	% 
				
	 Sunrun Solar Owner Holdco XIX, LLC
		Delaware		Sunrun Inc.		 	100	% 
				
	 Sunrun Solar Owner XIX, LLC
		Delaware		Sunrun Solar Owner Holdco XIX, LLC		 	100	% 
				
	 SunRun Solar SLB I, LLC
		California		Sunrun Inc.		 	100	% 
				
	 SunRun OBS Owner I, LLC
		California		Sunrun Inc.		 	100	% 
				
	 Sunrun Environmental Holdings LLC
		Delaware		Sunrun Inc.		 	100	% 
				
	 Sunrun EH 2014-A, LLC
		Delaware		Sunrun Environmental Holdings LLC		 	100	% 

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.20(b) 

Loan Parties 
  

																					
	 Legal Name
	 	 Former

Name
	 	 Jurisdiction
	 	 Type
	 	
Jurisdictions
Qualified to do
Business
	 	 Registered

Address
	 	 Principal Place of
Business
	 	 EIN
	 	 Corporate
ID
	 	 Public /
Private
	 	 Business

	Sunrun Inc.	 	 SunRun, Inc.
  

SunRun Generation, LLC
	 	Delaware	 	Corp.	 	AZ, CA, CO, CT, DC, HI, FL, MA, MD, NJ, NV, NY, OR, PA, TX	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 		 		 	Private	 	Provision of solar energy services
											
	AEE Solar, Inc.	 	Renewable Energy Assets, Inc.	 	California	 	Corp.	 	CA	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 	775 Fiero Lane, Suite 200, San Luis Obispo, CA 93401	 		 		 	Private	 	Provision of solar energy services
											
	Sunrun Installation Services Inc.	 	 REC Solar, Inc.
  

Renewable Energy Concepts, Incorporated
	 	Delaware	 	Corp.	 	AZ, CA, CO, CT, DE, FL, HI, KY, ME, MD, MA, MN, MO, NV, NJ, NY, NM, NC, OH, OR, PA, PR, RI, TX, UT, VA, WA	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 	775 Fiero Lane, Suite 200, San Luis Obispo, CA 93401	 		 		 	Private	 	Provision of solar energy services
											
	Sunrun South LLC	 	MS Energy Surviving LLC	 	Delaware	 	LLC	 	CA, NJ	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 	775 Fiero Lane, Suite 200, San Luis Obispo, CA 93401	 		 		 	Private	 	Provision of solar energy services

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

																					
	 Legal Name
	 	 Former

Name
	 	 Jurisdiction
	 	 Type
	 	
Jurisdictions
Qualified to do
Business
	 	 Registered

Address
	 	 Principal Place of
Business
	 	 EIN
	 	 Corporate
ID
	 	 Public /
Private
	 	 Business

	LH Merger Sub 2, LLC5	 	 LH Merger Sub 1, Inc.
  

Clean Energy Experts LLC
	 	California	 	LLC	 	CA	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 	595 Market Street, 29th Floor, San Francisco, CA 94105	 		 		 	Private	 	Generation of solar energy customer leads

  

	5 	The company plans to change its name to Clean Energy Experts LLC shortly following the Closing Date. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(c) 

Documents, Instruments, and Tangible Chattel Paper 

NONE 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(d)(i)  

Deposit Accounts & Securities Accounts 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(d)(ii)  

Electronic Chattel Paper & Letter of Credit Rights 

NONE 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(e)  

Commercial Tort Claims 

NONE 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(f) 

Pledged Equity Interests 
  

													
	 Grantor
	  	Percentage of
Shares Pledged	 	 	 Certificate

Number
	  	Percentage
Ownership of
Outstanding
Shares	 	 	 Class of Shares

	 Sunrun Inc.
	  	 	N/A	  	 	N/A	  	 	N/A	  	 	N/A
					
	 AEE Solar, Inc.
	  	 	100	% 	 	Uncertificated	  	 	100	% 	 	Voting
					
	 Sunrun Installation Services Inc.
	  	 	100	% 	 	Uncertificated	  	 	100	% 	 	Voting
					
	 Sunrun South LLC
	  	 	100	% 	 	Uncertificated	  	 	100	% 	 	Membership Interests
					
	 LH Merger Sub 2, LLC6
	  	 	100	% 	 	Uncertificated	  	 	100	% 	 	Membership Interests

  

	6 	The company plans to change its name to Clean Energy Experts LLC shortly following the Closing Date. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(g)(i) 

Mortgaged Properties 
 NONE

  
 [***] Confidential treatment has been requested for the bracketed
portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 SCHEDULE 5.21(g)(ii)  

Other Properties 
 No Mortgaged Properties
exist. 
 Locations of Loan Parties are as follows: 
  

					
	 Loan Party
	  	 Registered Address
	  	 Principal Place of Business

	Sunrun Inc.	  	595 Market Street, 29th Floor, San Francisco, CA 94105	  	595 Market Street, 29th Floor, San Francisco, CA 94105
			
	AEE Solar, Inc.	  	595 Market Street, 29th Floor, San Francisco, CA 94105	  	775 Fiero Lane, Suite 200, San Luis Obispo, CA 93401
			
	Sunrun Installation Services Inc.	  	595 Market Street, 29th Floor, San Francisco, CA 94105	  	775 Fiero Lane, Suite 200, San Luis Obispo, CA 93401
			
	Sunrun South LLC	  	595 Market Street, 29th Floor, San Francisco, CA 94105	  	775 Fiero Lane, Suite 200, San Luis Obispo, CA 93401
			
	LH Merger Sub 2, LLC7	  	595 Market Street, 29th Floor, San Francisco, CA 94105	  	595 Market Street, 29th Floor, San Francisco, CA 94105

 Location of personal property Collateral with value in excess of $1,000,000: 

 

					
	 Address
	  	 Leased or Owned
	  	 Lessor Name

	1 Chestnut Street, Suite 222, Nashua, NH 03060	  	Leased	  	AEE Solar, Inc.
			
	1227 Striker Avenue, Suite 260, Sacramento, CA 95834	  	Leased	  	Sunrun Installation Services Inc.

  

	7 	The company plans to change its name to Clean Energy Experts LLC shortly following the Closing Date. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 5.21(h)  

Material Contracts 
 Sunrun Inc. and VISA
U.S.A. Inc. entered into an Agreement of Sublease dated April 1, 2013, as amended, modified and supplemented from time to time, for the property located at 595 Market Street, 28, 29, and 30th
floors, San Francisco, California 94105. 
  
 [***] Confidential treatment has been
requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Schedule 6.14(d)(i)(D) 

Excluded Deposit Accounts 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 7.01 

Existing Liens 
 Sunrun Inc. 

 

	 	•	 	LEAF Capital Funding, LLC UCC-1 filing: related to copiers, toner and printers file number 127314575378 filed on May 23, 2012, in California 

 

	 	•	 	Union Leasing Corp. UCC-1 filing: for storage equipment, software licenses and support services file number 1797739 filed on May 9, 2012, in Delaware 

Sunrun Installation Services Inc. 
  

	 	•	 	Toyota Motor Credit Corporation UCC-1 filing: Four branch operations use forklifts in their warehouse; file number 2014 33115645, filed on August 18, 2014, in Delaware; file number 2014 4104345, filed on
October 13, 2014, in Delaware; file number 2014 5063102, filed on December 12, 2014, in Delaware; file number 2015 0811041, filed on February 26, 2015, in Delaware 

Sunrun South LLC 
  

	 	•	 	AT&T Capital Services, Inc. UCC-1 filings: AT&T financed the equipment purchase for the new corporate telephone system; file number 2014 0961961, filed on March 12, 2014, in Delaware and amended on
May 6, 2014; file number 2014 2918399, filed on July 23, 2014, in Delaware 

  

	 	•	 	Gelco Fleet Trust UCC-1 filings: related to certain leased Isuzu box trucks and used to carry equipment and materials to job sites; file number 2014 2703866, filed on July 9, 2014, in Delaware; file number
2014 3166857, filed on August 7, 2014, in Delaware; file number 2014 3531803, filed on September 4, 2014, in Delaware; file number 2014 3944774, filed on October 1, 2014, in Delaware 

AEE Solar, Inc. 
  

	 	•	 	Raymond Leasing Corporation UCC-1 filings: warehouse equipment/forklifts used in our Sacramento warehouse; file number 11-7257283541, filed on January 1, 2011, in California; file number 11-7263125826, filed on
March 11, 2011, in California; file number 11-7274934462, filed on June 28, 2011, in California; file number 12-7308327962, filed on April 11, 2012, in California 

 

	 	•	 	Fronius USA, LLC UCC-1 filing: Fronius is an ongoing supplier of PV inverters that we buy and sell in the ordinary course of business; file number 14-7404035533, filed on March 20, 2014, in California

 LH Merger Sub 2, LLC8 

 

	 	•	 	None 

  

	8 	The company plans to change its name to Clean Energy Experts LLC shortly following the Closing Date. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 7.02  

Existing Indebtedness 

NONE 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 SCHEDULE 7.03 

Existing Investments 
 Sunrun Inc. holds
an undilutable minority interest in LGCY Power, LLC (“LGCY”) pursuant to that certain Amended and Restated Limited Liability Company Agreement of LGCY, dated August 27, 2014. Sunrun does not have rights to either direct the
daily operation of LGCY or to take profit distributions from ongoing operations. Sunrun’s interest affords it a right of first refusal and a distribution right upon the sale of LGCY, as well as certain veto rights over financing and major
business decisions of LGCY. 
  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT A 

TO CREDIT AGREEMENT 

Form of 
 Administrative
Questionnaire 
 See attached. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 EXHIBIT B 

TO CREDIT AGREEMENT 

Form of 
 Assignment and
Assumption 
 This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and
is entered into by and between [the][each]9 Assignor identified in item 1 below ([the] [each, an] “Assignor”) and [the]
[each]10 Assignee identified in item 2 below ([the] [each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the Assignees]11 hereunder are several and not joint.]12 Capitalized terms used but not defined herein shall have the meanings given to them in the below defined
Credit Agreement (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, [the] [each] Assignor hereby
irrevocably sells and assigns to [the Assignee] [the respective Assignees], and [the] [each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and
Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (a) all of [the Assignor’s] [the respective Assignors’] rights and obligations in [its capacity as a
Lender][their respective capacities as Lenders] under the Credit Agreement and any other Loan Documents in the amount[s] and equal to the percentage interest[s] identified below of all the outstanding rights and obligations under the respective
facilities identified below (including, without limitation, the Letters of Credit included in such facilities) and (b) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the
Assignor (in its capacity as a Lender)] [the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other Loan Documents or the
loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the
rights and obligations sold and assigned pursuant to clause (a) above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (a) and (b) above being referred to herein
collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by
[the] [any] Assignor. 
  

	9 	For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose
the second bracketed language. 

	10 	For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the
second bracketed language. 

	11 	Select as appropriate. 

	12 	Include bracketed language if there are either multiple Assignors or multiple Assignees. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

									
		 	1.	 	Assignor[s]:	  	  
	  	
					
		 		 		  	  
	  	
					
		 	2.	 	Assignee[s]:	  	  
	  	
					
		 		 		  	  
	  	
			
		 		 	[for each Assignee, indicate [Affiliate] [Approved Fund] of [identify Lender]]
				
		 	3.	 	Borrowers:	  	Sunrun Inc., a Delaware corporation
		 		 		  	AEE Solar, Inc., a California corporation
		 		 		  	Sunrun South LLC, a Delaware limited liability company
		 		 		  	Sunrun Installation Services Inc., a Delaware corporation

  

	 	4.	Administrative Agent: Credit Suisse AG, Cayman Islands Branch, as the Administrative Agent under the Credit Agreement 

  

	 	5.	Collateral Agent: Silicon Valley Bank, as the Collateral Agent under the Credit Agreement 

  

	 	6.	Credit Agreement: Credit Agreement, dated as of April 1, 2015, by and among the Borrowers, the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley
Bank, as Collateral Agent 

  

	 	7.	Assigned Interest: 

  

																			
	 Assignor[s]13
	  	Assignee[s]14	  	Facility
Assigned15	  	Aggregate
Amount of
Commitment/ Loans
for all Lenders16	 	  	Amount of
Commitment/
Loans
Assigned	 	  	Percentage
Assigned of
Commitment/
Loans17	 	 	CUSIP
Number
		  		  		  	$	            	  	  	$	            	  	  	 	    	% 	 	
		  		  		  	$	            	  	  	$	            	  	  	 	    	% 	 	
		  		  		  	$	            	  	  	$	            	  	  	 	    	% 	 	

  

	13 	List each Assignor, as appropriate. 

	14 	List each Assignee, as appropriate. 

	15 	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g., “Revolving Commitment,” etc.). 

	16 	Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

	17 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

									
			[7.				Trade Date:                     ]18
				
							Effective Date:             , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.]

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

	18 	To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:		  

	Name:		  

	Title:		  

	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:		  

	Name:		  

	Title:		  

  

			
	[Consented to and]19 Accepted:
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent
		
	By:		  

	Name:		  

	Title:		  

	
	[Consented to:]20
		
	By:		  

	Name:		  

	Title:		  

  

	19 	To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	20 	To be added only if the consent of the Borrowers and/or other parties (e.g., L/C Issuer) is required by the terms of the Credit Agreement. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

Standard Terms and Conditions for Assignment and Assumption 

1. Representations and Warranties. 

1.1. Assignor. [The] [Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of [the] [the
relevant] Assigned Interest, (ii) [the] [such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this
Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrowers, any of their Subsidiaries or
Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrowers, any of their Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan
Document. 
 1.2. Assignee. [The][Each] Assignee (a) represents and warrants that (i) it has full power and authority, and
has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee
under the terms of the Credit Agreement (subject to such consents, if any, as may be required under the terms of the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement and the
other Loan Documents as a Lender thereunder and, to the extent of [the] [the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type
represented by [the] [such] Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the
Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to the terms of the Credit Agreement, and such other documents and information as it deems
appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the] [such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent 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 Assignment and Assumption and to purchase [the] [such] Assigned Interest, and (vii) if it is a Foreign
Lender, attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without
reliance upon the Administrative Agent, [the][any] Assignor 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 the
Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of [the] [each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Effective Date and to [the][the relevant]
Assignee for amounts which have accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption
shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.
Delivery of an executed counterpart of a signature page of this Assignment and Assumption by fax transmission or other electronic mail transmission (e.g., “pdf’ or “tiff’) shall be effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 
  

[***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with
the Securities and Exchange Commission. 

 EXHIBIT C 

TO CREDIT AGREEMENT 

Form of 
 Compliance
Certificate 
 Financial Statement Date:
[            ,        ] 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc. (“Sunrun”), a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun
Installation Services Inc., a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as
amended, modified, extended, restated, replaced or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

The undersigned Responsible Officer1 hereby certifies as of the date hereof that [he/she]
is the [                                        ]
of Sunrun, and that, as such, [he/she] is authorized to execute and deliver this Compliance Certificate (this “Certificate”) to the Administrative Agent on the behalf of Sunrun and the other Loan Parties, and that: 

[Use following paragraph 1 for fiscal year-end financial statements] 

1. The Loan Parties have delivered the year-end audited financial statements required by Section 6.01(a) of the Credit Agreement for the
fiscal year of Sunrun ended as of the above date, together with the report and opinion of an independent certified public accountant required by Section 6.01(a) of the Credit Agreement. 

[Use following paragraph 1 for fiscal quarter-end financial statements] 

1. The Loan Parties have delivered the unaudited financial statements required by Section 6.01(b)(i) of the Credit Agreement for the
fiscal quarter of Sunrun ended as of the above date, which Consolidated financial statements fairly present the financial condition, results of operations, shareholders’ equity and cash flows of Sunrun in accordance with GAAP 

 

	1 	This Certificate should be from the chief executive officer, chief financial officer, treasurer or controller of the Borrowers, as applicable. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
as of such date and for such period, subject only to normal year-end audit adjustments and the absence of footnotes and such consolidating statements are fairly stated in all material respects
when considered in relation to the Consolidated financial statements of Sunrun. 
 2. The undersigned has reviewed and is familiar with the
terms of the Credit Agreement and has made, or has caused to be made under [his/her] supervision, a detailed review of the transactions and condition (financial or otherwise) of Sunrun and its Subsidiaries during the accounting period covered by
such financial statements. 
 3. A review of the activities of Sunrun and its Subsidiaries during such fiscal period has been made under the
supervision of the undersigned with a view to determining whether during such fiscal period Sunrun and each of the other Loan Parties performed and observed all their obligations under the Loan Documents, and 

[select one:] 
 [to the
best knowledge of the undersigned, during such fiscal period each of the Loan Parties performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 

—or— 
 [to the best
knowledge of the undersigned, the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:] 

4. The representations and warranties of the Borrowers and each other Loan Party contained in Article V of the Credit Agreement or any other
Loan Document, or which are contained in any document furnished at any time under or in connection therewith are (i) with respect to representations and warranties that contain a materiality qualification, true and correct in all respects on
and as of the date hereof and (ii) with respect to representations and warranties that do not contain a materiality qualification, true and correct in all material respects on and as of the date hereof, and except that for purposes of this
Compliance Certificate, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and
(b), respectively, of Section 6.01 of the Credit Agreement, including the statements in connection with which this Compliance Certificate is delivered. 

5. The financial covenant analyses and information set forth on Schedule A attached hereto are true and accurate on and as of the date
of this Certificate. 
 Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other electronic
mail transmission (e.g., “pdf’ or “tiff’) shall be effective as delivery of a manually executed counterpart of this Certificate. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Schedule A 

Financial Statement Date:
[            ,        ] (“Statement Date”) 

to the Compliance Certificate 
 ($
in 000’s) 
  

	I.	Section 7.11(a) — Unencumbered Liquidity 

  

	 	A.	Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which
the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $         

Compliance 
 The Borrowers
[are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $        1, which has been measured as of
the last day of the month ended [            , 201  ], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] required as of
such month end.2 
  

	II.	Section 7.11(b) — Interest Coverage Ratio 

  

									
	A.		Numerator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available):		
					
					i.		Operating income (measured in accordance with GAAP) plus depreciation and amortization included in COGS		$            
					
					ii.		[***] of general and administration costs (G&A, as measured in accordance with GAAP)		$            
					
					iii.		[***] percent of sales and marketing costs (S&M, as measured in accordance with GAAP)		$            
					
					iv.		[***] percent of research and development costs (R&D, as measured in accordance with GAAP)		$            
					
					v.		Sum of Line II.A.i + Line II.A.ii + Line II.A.iii + Line II.A.iv		$            

  

	1 	Insert Line I.A. 

	2 	Pursuant to Section 7.11(a), an Event of Default shall not be deemed to have occurred solely as a result of the Borrowers’ failure to maintain an Unencumbered Liquidity of at least $25,000,000 as of any month
end unless its Unencumbered Liquidity is less then such amount on two consecutive measurement dates; provided that Unencumbered Liquidity shall not be less than $20,000,000 as of the last day of any month. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

									
	B.		Denominator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available, which is to be paid in cash, in each case, of or by the Borrowers and their Subsidiaries, other than
Excluded Subsidiaries, for such period of measurement):		
					
					i.		all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the
extent treated as interest in accordance with GAAP		$            
					
					ii.		all interest paid or payable with respect to discontinued operations		$            
					
					iii.		the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP		$            
					
					iv.		Aggregate cash Interest Charges of the Borrowers and their Subsidiaries, other than Excluded Subsidiaries (which Interest Charges shall not be determined on a Consolidated basis): Sum of Line II.B.i + Line II.B.ii + Line
II.B.iii		$            
			
	C.		Interest Coverage Ratio (Line II.A.iii ÷ Line II.B.iv):		     to 1.00
			
			Compliance		
		
			The Borrowers [are] [are not] in compliance with Section 7.11(b) of the Credit Agreement as the Interest Coverage Ratio of     3 to 1.00
[is][is not] greater than or equal to the minimum permitted Interest Coverage Ratio of 2.00 to 1.00.

  

	3 	Insert Line II.C. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT D 

TO CREDIT AGREEMENT 

Form of 
 Joinder
Agreement 
 THIS JOINDER AGREEMENT (this “Agreement”), dated as of
[            ], [        ], is by and among
[                                        ,
a                                        ] (the
“Subsidiary Guarantor”), Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc., a Delaware corporation
(collectively, the “Borrowers”), Credit Suisse AG, Cayman Islands Branch, in its capacity as administrative agent (in such capacity, the “Administrative Agent”), and Silicon Valley Bank, in its capacity as
collateral agent (in such capacity, the “Collateral Agent”) under that certain Credit Agreement, dated as of April 1, 2015 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the
“Credit Agreement”), by and among the Borrowers, the Guarantors, the Lenders, the Administrative Agent and the Collateral Agent. Capitalized terms used but not otherwise defined herein shall have the meaning provided in the Credit
Agreement. 
 The Subsidiary Guarantor is an additional Loan Party, and, consequently, the Loan Parties are required by Section 6.13 of
the Credit Agreement to cause the Subsidiary Guarantor to become a “Guarantor” thereunder. 
 Accordingly, the Subsidiary
Guarantor and the Borrowers hereby agree as follows with the Administrative Agent and the Collateral Agent, for the benefit of the Lenders: 

1. The Subsidiary Guarantor hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Subsidiary Guarantor will
be deemed to be a party to and a “Guarantor” under the Credit Agreement and shall have all of the obligations of a Guarantor thereunder as if it had executed the Credit Agreement. The Subsidiary Guarantor hereby ratifies, as of the date
hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the applicable Loan Documents, including, without limitation (a) all of the representations and warranties set forth in Article V of the Credit
Agreement and (b) all of the affirmative and negative covenants set forth in Articles VI and VII of the Credit Agreement. Without limiting the generality of the foregoing terms of this Paragraph 1, the Subsidiary Guarantor hereby guarantees,
jointly and severally together with the other Guarantors, the prompt payment of the Secured Obligations in accordance with Article X of the Credit Agreement. 

2. Each of the Subsidiary Guarantor and the Borrowers hereby agrees that all of the representations and warranties contained in Article V of
the Loan Agreement and each other Loan Document to which it is a party are true and correct as of the date hereof. 
 3. The Subsidiary
Guarantor hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Subsidiary Guarantor will be deemed to be a party to the Security Agreement, and shall have all the rights and obligations of a “Grantor” (as
such term is 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
defined in the Security Agreement) thereunder as if it had executed the Security Agreement. The Subsidiary Guarantor hereby ratifies, as of the date hereof, and agrees to be bound by, all of the
terms, provisions and conditions contained in the Security Agreement. Without limiting the generality of the foregoing terms of this Paragraph 3, the Subsidiary Guarantor hereby grants, pledges and assigns to the Collateral Agent, for the benefit of
the Lenders, a continuing security interest in, and a right of set off, to the extent applicable, against any and all right, title and interest of the Subsidiary Guarantor in and to the Collateral (as such term is defined in Section 2 of the
Security Agreement) of the Subsidiary Guarantor. 
 4. The Subsidiary Guarantor acknowledges and confirms that it has received a copy of the
Credit Agreement and the schedules and exhibits thereto and each Collateral Document and the schedules and exhibits thereto. The information on the schedules to the Credit Agreement and the Collateral Documents are hereby supplemented (to the extent
permitted under the Credit Agreement or Collateral Documents) to reflect the information shown on the attached Schedule A. 
 5. The
Borrowers confirm that the Credit Agreement is, and upon the Subsidiary Guarantor becoming a Guarantor, shall continue to be, in full force and effect. The parties hereto confirm and agree that immediately upon the Subsidiary Guarantor becoming a
Guarantor the term “Obligations,” as used in the Credit Agreement, shall include all obligations of the Subsidiary Guarantor under the Credit Agreement and under each other Loan Document to which it is a party. 

6. Each of the Borrowers and the Subsidiary Guarantor agrees that at any time and from time to time, upon the written request of the
Administrative Agent or the Collateral Agent, it will execute and deliver such further documents and do such further acts as the Administrative Agent or the Collateral Agent may reasonably request in accordance with the terms and conditions of the
Credit Agreement and the other Loan Documents in order to effect the purposes of this Agreement. 
 7. This Agreement may be executed in any
number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Agreement by fax transmission or other electronic mail transmission (e.g., “pdf’ or “tif’)
shall be effective as delivery of a manually executed counterpart of this Agreement. 
 8. This Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York. The terms of Sections 11.14 and 11.15 of the Credit Agreement are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 IN WITNESS WHEREOF, each of the Borrowers and the Subsidiary Guarantor has caused this Agreement
to be duly executed by its authorized officer, and each of the Administrative Agent and the Collateral Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written.

  

							
	SUBSIDIARY GUARANTOR:				[SUBSIDIARY GUARANTOR]
				
					By:		  

					Name:		  

					Title:		  

			
	BORROWERS:				 SUNRUN INC., 
 a Delaware
corporation

				
					By:		  

					Name:		  

					Title:		  

			
					 AEE SOLAR, INC., 
 a
California corporation

				
					By:		  

					Name:		  

					Title:		  

			
					 SUNRUN SOUTH LLC, 
 a
Delaware limited liability company

				
					By:		  

					Name:		  

					Title:		  

			
					 SUNRUN INSTALLATION SERVICES INC., 

a Delaware corporation

				
					By:		  

					Name:		  

					Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

			
	Acknowledged, accepted and agreed:
	
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

as Administrative Agent

		
	By:		  

	Name:		  

	Title:		  

  

			
	 SILICON VALLEY BANK,
 as
Collateral Agent

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Schedule A 

Schedules to Credit Agreement and Collateral Documents 

[TO BE COMPLETED BY BORROWERS] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT E 

TO CREDIT AGREEMENT 

Form of 
 Loan Notice

  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  

 
 The undersigned hereby requests
(select one): 
  

					
		
	 ̈		A Borrowing of the Revolving Loan
		
	 ̈		A [conversion] or [continuation] of Revolving Loans

  

 
  

					
	1.		    On                      (the “Credit Extension Date”)
		
	2.		    In the amount of $        
			
	3.		    Comprised of:		 ̈    Base Rate Loans
			
					 ̈    Eurodollar Rate Loans
		
	4.		    For Eurodollar Rate Loans: with an Interest Period of      months

 The Revolving Borrowing requested herein complies with the proviso to the first sentence of
Section 2.01(a) of the Credit Agreement. 
 Each of the Borrowers hereby represents and warrants that the conditions specified in
Section 4.02 of the Credit Agreement shall be satisfied on and as of the Credit Extension Date. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Delivery of an executed counterpart of a signature page of this notice by fax transmission or
other electronic mail transmission (e.g., “pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this notice. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT F 

TO CREDIT AGREEMENT 

Form of 
 Permitted
Acquisition Certificate 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

[Loan Party] intends to make an Acquisition of
[                    ] (the “Target”). The undersigned Responsible Officer of [Loan Party] hereby certifies that: 

(a) The Acquisition is an acquisition of a type of business (or assets used in a type of business) permitted to be engaged in by the Borrowers
and their Subsidiaries pursuant to the terms of the Credit Agreement. 
 (b) No Default or Event of Default exists or would exist after
giving effect to the Acquisition. 
 (c) [After giving effect to the Acquisition on a Pro Forma Basis, the Loan Parties are in compliance
with (x) each of the financial covenants set forth in Section 7.11 of the Credit Agreement (as demonstrated on Schedule A attached hereto) and (y) the most recently delivered Borrowing Base Certificate.]1 
 (d) The Loan Parties have complied with Sections 6.13 and 6.14 of the Credit Agreement,
to the extent required to do so thereby. 
 (e) [Attached hereto as Schedule B is a description of the material terms of the
Acquisition (including a description of the business and the form of consideration).]2 

 

	1 	Only applicable to Acquisitions with a Cost of Acquisition in excess of $15,000,000. 

	2 	Only applicable to Acquisitions with a Cost of Acquisition greater than or equal to $5,000,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 (f) [Attached hereto as Schedule C are the [audited financial statements]
[management-prepared financial statements3] of the Target for its two most recent fiscal years] 4 

(g) [Attached hereto as Schedule D are the unaudited financial statements of the Target for any fiscal quarters ended within the fiscal
year to date.]5 
 (j) [The Acquisition is not a “hostile” Acquisition and
has been duly authorized by the board of directors (or equivalent) and/or shareholders (or equivalent) of the applicable Loan Party and the Target, in each case where such authorization is
required.]6 
 (k) With respect to the Cost of Acquisition paid by the Loan Parties and
their Subsidiaries for all Acquisitions made after the Closing Date and during the term of the Credit Agreement, on a fully diluted basis with respect to all such Acquisitions, the aggregate Cost of Acquisition (excluding Equity Consideration) shall
not exceed $[***]. 
  

	3 	Audited financial statements are to be provided unless unavailable, in which case management prepared financial statements can be provided. 

	4 	Only applicable to Acquisitions with a Cost of Acquisition in excess of $15,000,000. 

	5 	Only applicable to Acquisitions with a Cost of Acquisition in excess of $15,000,000. 

	6 	Only applicable to Acquisitions with a Cost of Acquisition greater than or equal to $5,000,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Delivery of an executed counterpart of a signature page of this Certificate by fax transmission
or other electronic mail transmission (e.g., “pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this Certificate. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 [Schedule A]1 

Financial Covenant Calculations 

Financial Statement Date:
[            ,        ] (“Statement Date”) 

to the Compliance Certificate 
 ($
in 000’s) 
  

	I.	Section 7.11(a) — Unencumbered Liquidity 

  

					
	A.		Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral
Agent has obtained a perfected first priority Lien subject to no other Lien:		$            
			
			Compliance		
			
			The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $        2,
which has been measured as of the last day of the month ended [            , 201  ], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of
$25,000,000 required as of such month end.3		

  

	II.	Section 7.11(b) — Interest Coverage Ratio 

  

									
	A.		Numerator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available):		
					
					i.		Operating income (measured in accordance with GAAP) plus depreciation and amortization included in COGS		$            
					
					ii.		[***] of general and administration costs (G&A, as measured in accordance with GAAP)		$            
					
					iii.		[***] percent of sales and marketing costs (S&M, as measured in accordance with GAAP)		$            
					
					iv.		[***] percent of research and development costs (R&D, as measured in accordance with GAAP)		$            
					
					v.		Sum of Line II.A.i + Line II.A.ii + Line II.A.iii + Line II.A.iv		$            

  

	1 	Only applicable to Acquisitions with a Cost of Acquisition in excess of $5,000,000. 

	2 	Insert Line I.A. 

	3 	Pursuant to Section 7.11(a), an Event of Default shall not be deemed to have occurred solely as a result of the Borrowers’ failure to maintain an Unencumbered Liquidity of at least $25,000,000 as of any month
end unless its Unencumbered Liquidity is less then such amount on two consecutive measurement dates; provided that Unencumbered Liquidity shall not be less than $20,000,000 as of the last day of any month. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

									
	B.		Denominator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available, which is to be paid in cash, in each case, of or by the Borrowers and their Subsidiaries, other than
Excluded Subsidiaries, for such period of measurement):		
					
					i.		all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the
extent treated as interest in accordance with GAAP		$            
					
					ii.		all interest paid or payable with respect to discontinued operations		$            
					
					iii.		the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP		$            
					
					iv.		Aggregate cash Interest Charges of the Borrowers and their Subsidiaries, other than Excluded Subsidiaries (which Interest Charges shall not be determined on a Consolidated basis): Sum of Line II.B.i + Line II.B.ii + Line
II.B.iii		$            
			
	C.		Interest Coverage Ratio (Line II.A.iii ÷ Line II.B.iv):		     to 1.00
			
			Compliance		
		
			The Borrowers [are] [are not] in compliance with Section 7.11(b) of the Credit Agreement as the Interest Coverage Ratio of     4 to 1.00
[is][is not] greater than or equal to the minimum permitted Interest Coverage Ratio of 2.00 to 1.00.

  

	4 	Insert Line II.C. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 [Schedule B] 

Description of Material Terms 

[TO BE COMPLETED BY BORROWERS]1 

 

	1 	Only applicable to Acquisitions with a Cost of Acquisition greater than or equal to $500,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 [Schedule C] 

[Audited Financial Statements] [Management-Prepared Financial Statements] 

[TO BE COMPLETED BY BORROWERS]1 

 

	1 	Only applicable to Acquisitions with a Cost of Acquisition in excess of $5,000,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 [Schedule D] 

Consolidated Projected Income Statements 

[TO BE COMPLETED BY BORROWERS]1 

 

	1 	Only applicable to Acquisitions with a Cost of Acquisition in excess of $5,000,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT G 

TO CREDIT AGREEMENT 

Form of 
 Revolving Note

 [            ,        ] 

FOR VALUE RECEIVED, the undersigned (collectively, the “Borrowers”), hereby jointly and severally promise to pay to
[                    ] or its registered assigns (the “Lender”), in accordance with the provisions of the Credit Agreement (as
hereinafter defined), the principal amount of each Revolving Loan from time to time made by the Lender to the Borrowers under that certain Credit Agreement, dated as of April 1, 2015 (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Credit Agreement;” capitalized terms being used but undefined herein as therein defined), by and among the Borrowers, the Guarantors, the Lenders from time to time party thereto, Credit
Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent. 
 The Borrowers jointly and
severally promise to pay interest on the unpaid principal amount of each Revolving Loan from the date of such Revolving Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Credit Agreement.
All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder,
such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Credit Agreement. 

This Revolving Note is one of the Revolving Notes referred to in the Credit Agreement, and the holder is entitled to the benefits thereof.
Revolving Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Revolving Note and endorse thereon the date,
amount and maturity of its Revolving Loans and payments with respect thereto. 
 Each Borrower, for itself, its successors and assigns,
hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Revolving Note. 

Delivery of an executed counterpart of a signature page of this Revolving Note by fax transmission or other electronic mail transmission
(e.g., “pdf’ or “tiff’) shall be effective as delivery of a manually executed counterpart of this Revolving Note. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT H 

TO CREDIT AGREEMENT 

Form of 
 Secured Party
Designation Notice 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

[Name of Cash Management Bank/Hedge Bank] (the “Secured Party”) hereby notifies you, pursuant to the terms of the Credit
Agreement, that the Secured Party meets the requirements of a [Cash Management Bank] [Hedge Bank] under the terms of the Credit Agreement and is a [Cash Management Bank] [Hedge Bank] under the Credit Agreement and the other Loan Documents. 

Delivery of an executed counterpart of a signature page of this notice by fax transmission or other electronic mail transmission (e.g.,
“pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this notice. 
 A duly authorized
officer of the undersigned has executed this notice as of the day and year set forth above. 
  

					
			,
	as a [Cash Management Bank] [Hedge Bank]		
			
	By:		  
		
	Name:		  
		
	Title:		  
		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT I 

TO CREDIT AGREEMENT 

Form of 
 Solvency
Certificate 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

The undersigned Responsible Officer of the Borrowers is familiar with the properties, businesses, assets and liabilities of the Borrowers and
their Subsidiaries and is duly authorized to execute this certificate on behalf of the Borrowers and their Subsidiaries. 
 The undersigned
certifies that [he/she] has made such investigation and inquiries as to the financial condition of the Borrowers and their Subsidiaries as the undersigned deems necessary and prudent for the purpose of providing this Solvency Certificate (this
“Certificate”). The undersigned acknowledges that the Administrative Agent and the Lenders are relying on the truth and accuracy of this Certificate in connection with the making of Credit Extensions and the other transactions
contemplated under the Credit Agreement. 
 The undersigned certifies that the financial information, projections and assumptions which
underlie and form the basis for the representations made in this Certificate were reasonable when made and were made in good faith and continue to be reasonable as of the date hereof. 

BASED ON THE FOREGOING, the undersigned certifies that, both before and after giving effect to the transactions contemplated by the Credit
Agreement: 
 (a) The fair value of the property of each Borrower, individually and together with its Subsidiaries on a Consolidated basis,
is greater than the total amount of liabilities, including contingent liabilities, of such Borrower, individually and together with its Subsidiaries on a Consolidated basis. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 (b) The present fair salable value of the assets of each Borrower, individually and together with
its Subsidiaries on a Consolidated basis, is not less than the amount that will be required to pay the probable liability of such Borrower, individually and together with its Subsidiaries on a Consolidated basis, on their debts as they become
absolute and matured. 
 (c) Each Borrower, individually and together with its Subsidiaries on a Consolidated basis, does not intend to, and
does not believe that it will, incur debts or liabilities beyond such Person’s individual or consolidated ability to pay such debts and liabilities as they mature. 

(d) Neither any Borrower nor any of its Subsidiaries is engaged in business or a transaction, or is about to engage in business or a
transaction, for which such Borrower’s or Subsidiary’s property would constitute an unreasonably small capital. 
 (e) Each
Borrower, individually and together with its Subsidiaries on a Consolidated basis, is able to pay its individual and consolidated debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business.

 (f) The amount of contingent liabilities at any time have been computed as the amount that, in the light of all the facts and
circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other electronic mail transmission (e.g.,
“pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this Certificate. 
 [REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT J 

TO CREDIT AGREEMENT 

Form of 
 Officer’s
Certificate 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

The undersigned Responsible Officer of [LOAN PARTY] (the “Company”) hereby certifies as follows: 

1. Attached hereto as Exhibit A is a true and complete copy of the [articles of incorporation] [certificate of formation] [certificate
of limited partnership] of the Company, and all amendments thereto, as in effect on the date hereof certified as a recent date by the appropriate Governmental Authority of the state of [incorporation] [formation] [organization] of the Company. 

2. Attached hereto as Exhibit B is a true and complete copy of the [bylaws] [operating agreement] [partnership agreement] of the
Company, and all amendments thereto, as in effect on the date hereof. 
 3. Attached hereto as Exhibit C is a true and complete copy
of resolutions duly adopted by the [board of directors] [members] [managers] [partners] of the Company on [                    ]. Such resolutions
have not in any way been rescinded or modified and have been in full force and effect since their adoption to and including the date hereof, and such resolutions are the only corporate proceedings of the Company now in force relating to or affecting
the matters referred to therein. 
 4. Attached hereto as Exhibit D are true and complete copies of the certificates of good
standing, existence or its equivalent of the Company certified as of a recent date by the appropriate Governmental Authority of the state of [incorporation] [formation] [organization] of the Company and each other state in which the failure to so
qualify and be in good standing could reasonably be expected to have a Material Adverse Effect. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 5. The following persons listed on Annex A attached hereto are the duly elected and
qualified officers of the Company, holding the offices appearing next to their names on the date hereof, and the signatures appearing opposite the names of the officers below are their true and genuine signatures, and each of such officers is duly
authorized to execute and deliver, on behalf of the Company, the Credit Agreement, the Notes, the other Loan Documents and such other documents, agreements, deeds, certificates and instruments as specified or contemplated by the Loan Documents. 

Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other electronic mail transmission (e.g.,
“pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this Certificate. 
 [REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 IN WITNESS WHEREOF, the undersigned has executed this Officer’s Certificate as of the date
set forth above. 
  

			
	By:		  

			[Name]
			[Title]

 The undersigned, the duly appointed, qualified and acting
[                    ] of the Company, hereby certifies that the signature immediately above is the true, correct and genuine signature of
[                    ], the duly appointed, qualified and acting
[                    ] of the Company. 
  

			
	By:		  

			[Name]
			[Title]

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 ANNEX A  

INCUMBENCY FOR COMPANY 
  

					
	 Name
	 	 Title
	 	 Signature

			
		 		 	  

			
		 		 	  

			
		 		 	  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT K-1 

TO CREDIT AGREEMENT 

Form of 
 U.S. Tax
Compliance Certificate 
 (For Foreign Lenders That Are Not Partnerships 

For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar,
Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc., a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG,
Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”). Pursuant to the provisions
of Section 3.01 of the Credit Agreement, the undersigned hereby certifies that (a) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this
certificate, (b) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (c) it is not a ten percent shareholder of any of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code, and (d) it is
not a controlled foreign corporation related to any of the Borrowers as described in Section 881(c)(3)(C) of the Code. 
 The
undersigned has furnished the Administrative Agent and the Borrowers with a certificate of its non-U.S. Person status on a properly completed and executed original of IRS Form W-8BEN. By executing this certificate, the undersigned agrees that
(a) if the information provided on IRS Form W-8BEN changes, the undersigned shall so inform the Borrowers and the Administrative Agent by providing a newly completed and executed original of IRS Form W-8BEN with the updated information no later
than the date of the next interest payment on the Loan, and (b) the undersigned shall have at all times furnished the Borrowers and the Administrative Agent with a properly completed and currently effective IRS Form W-8BEN in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, capitalized terms used herein shall have the meaning given to them in the Credit Agreement. 

 

			
	[NAME OF FOREIGN LENDER]
		
	By:		  

	Name:		  

	Title:		  

		
	Date:		                 ,         

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT K-2 

TO CREDIT AGREEMENT 

Form of 
 U.S. Tax
Compliance Certificate 
 (For Foreign Participants That Are Not Partnerships 

For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar,
Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc., a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG,
Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”). Pursuant to the provisions
of Section 3.01 of the Credit Agreement, the undersigned hereby certifies that (a) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (b) it is not a bank within the
meaning of Section 881(c)(3)(A) of the Code, (c) it is not a ten percent shareholder of any of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code, and (d) it is not a controlled foreign corporation related to
any of the Borrowers as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with a
certificate of its non-U.S. Person status on a properly completed and executed original of IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (a) if the information provided on IRS Form W-8BEN changes, the undersigned
shall so inform such Lender by providing a newly completed and executed original of IRS Form W-8BEN with the updated information no later than the date of the next interest payment on the Loan, and (b) the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective IRS Form W-8BEN in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, capitalized terms used herein shall have the meaning given to them in the Credit Agreement. 

 

			
	[NAME OF PARTICIPANT]
		
	By:		  

	Name:		  

	Title:		  

		
	Date:		                 ,        

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT K-3 

TO CREDIT AGREEMENT 

Form of 
 U.S. Tax
Compliance Certificate 
 (For Foreign Participants That Are Partnerships 

For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar,
Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc., a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG,
Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”). Pursuant to the provisions
of Section 3.01 of the Credit Agreement, the undersigned hereby certifies that (a) it is the sole record owner of the participation in respect of which it is providing this certificate, (b) its direct or indirect partners or members
are the sole beneficial owners of such participation, (c) with respect to such participation, neither the undersigned nor any of its direct or indirect partners or members is a bank extending credit pursuant to a loan agreement entered into in
the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (d) none of its direct or indirect partners or members is a ten percent shareholder of any of the Borrowers within the meaning of
Section 871(h)(3)(B) of the Code, and (e) none of its direct or indirect partners or members is a controlled foreign corporation related to any of the Borrowers as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a properly completed and executed original of IRS Form W-8IMY, a withholding
statement as described in the regulations under section 1441 of the Code, and one of the following forms from each of its partners or members that is claiming the portfolio interest exemption: (a) a properly completed and executed original of
IRS Form W-8BEN or (b) a properly completed and executed IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s or member’s beneficial owners that is claiming the portfolio interest exemption (or if one of
such partner’s or member’s beneficial owners is itself a partnership (“Upper-Tier Partnership”), then a properly completed and executed original of IRS Form W-8IMY from the Upper-Tier Partnership accompanied by a
properly completed and executed original of IRS Form W-8BEN from each of the Upper-Tier Partnership’s partners or members that is claiming the portfolio interest exemption, and so on). By executing this certificate, the undersigned agrees that
(i) if the information provided on IRS Form W-8IMY and accompanying documentation changes, the undersigned shall so inform such Lender by providing newly completed and executed originals of IRS Form W-8IMY or any of the accompanying
documentation (as appropriate) with the updated information no later than the date of the next interest payment on the Loan and (ii) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective
IRS Form W-8IMY and accompanying documentation in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Unless otherwise defined herein, capitalized terms used herein shall have the meaning given to
them in the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:		  

	Name:		  

	Title:		  

		
	Date:		                 ,         

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT K-4 

TO CREDIT AGREEMENT 

Form of 
 U.S. Tax
Compliance Certificate 
 (For Foreign Lenders That Are Partnerships 

For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar,
Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc., a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG,
Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”). Pursuant to the provisions
of Section 3.01 of the Credit Agreement, the undersigned hereby certifies that (a) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate,
(b) its direct or indirect partners or members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (c) with respect to the extension of credit pursuant to the Credit Agreement or any other Loan
Document, neither the undersigned nor any of its direct or indirect partners or members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (d) none of its direct or indirect partners or members is a ten percent shareholder of any of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code and (e) none of its direct or
indirect partners or members is a controlled foreign corporation related to any of the Borrowers as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrowers with a properly completed and executed original of IRS Form W-8IMY, a
withholding statement as described in the regulations under section 1441 of the Code, and one of the following forms from each of its partners or members that is claiming the portfolio interest exemption: (a) a properly completed and executed
original of IRS Form W-8BEN or (b) a properly completed and executed original of IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s or member’s beneficial owners that is claiming the portfolio interest
exemption (or if one of such partner’s or member’s beneficial owners is itself a partnership (“Upper-Tier Partnership”), then a properly completed and executed original of IRS Form W-8IMY from the Upper-Tier Partnership
accompanied by a properly completed and executed original of IRS Form W-8BEN from each of the Upper-Tier Partnership’s partners or members that is claiming the portfolio interest exemption, and so on). By executing this certificate, the
undersigned agrees that (i) if the information provided on IRS Form W-8IMY or the accompanying documentation changes, the undersigned shall so inform the Borrowers and the Administrative Agent by providing newly completed and executed
originals of IRS Form W-8IMY or any of the accompanying documentation (as appropriate) with the updated information no later than the date of the next interest payment on the Loan, and (ii) the undersigned shall have at all times

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
furnished the Borrowers and the Administrative Agent with a properly completed and currently effective IRS Form W-8IMY and accompanying documentation in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined
herein, capitalized terms used herein shall have the meaning given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:		  

	Name:		  

	Title:		  

		
	Date:		                 ,        

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT L 

TO CREDIT AGREEMENT 

Form of 
 Funding
Indemnity Letter 
  

			
	TO:		 Credit Suisse AG, Cayman Islands Branch, as Administrative Agent

Lenders to the Credit Agreement

		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”)
		
	DATE:		[Date]

 This letter is delivered in anticipation of the closing of the above-referenced Credit Agreement. Capitalized
terms used and not otherwise defined herein shall have the meaning assigned to them in the most recent draft of the Credit Agreement circulated to the Borrowers and the Lenders. 

The Borrowers anticipate that all conditions precedent to the effectiveness of the Credit Agreement will be satisfied on April 1, 2015
(the “Effective Date”). The Borrowers wish to borrow the initial Revolving Loans, described in the Loan Notice delivered in connection with this letter agreement, on the Effective Date as Eurodollar Rate Loans (the
“Effective Date Eurodollar Rate Loans”). 
 The Borrowers acknowledge that (a) in order to accommodate the foregoing
request, the Lenders are making funding arrangements for value on the Effective Date, (b) there can be no assurance that the Credit Agreement will become effective as of the Effective Date, (c) the Lenders will not make such Effective Date
Eurodollar Rate Loans unless the Credit Agreement has been fully executed and the requirements set forth in Article IV of the Credit Agreement are satisfied (the “Funding Requirements”), and (d) if the Funding Requirements are
not satisfied on or before the Effective Date, the Lenders may sustain funding losses as a result of such failure to close on such date. 

In order to induce the Lenders to make the funding arrangements necessary to make the Effective Date Eurodollar Rate Loans on the Effective
Date, the Borrowers agree promptly upon demand to compensate each Lender and hold each Lender harmless from any loss, cost or expense (including the cost of counsel) which such Lender may incur (a) as a consequence of any failure to
(i) satisfy the Funding Requirements or (ii) borrow the Effective Date Eurodollar Rate Loans on the Effective Date from such Lender for any reason whatsoever (including the failure of the Credit Agreement to become effective) or
(b) in connection with the 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
preparation, administration or enforcement of, or any dispute arising under, this Funding Indemnity Letter. For purposes of calculating amounts payable by the Borrowers to any Lender under this
paragraph, the provisions of Section 3.05 of the Credit Agreement shall apply as if the Credit Agreement were in effect with respect to the Effective Date Eurodollar Rate Loans (regardless of whether the Credit Agreement ever becomes
effective). 
 This letter agreement may be executed in any number of counterparts, which together shall constitute one instrument. Delivery
of an executed counterpart of a signature page of this letter agreement by fax transmission or other electronic mail transmission (e.g., “pdf’ or “tiff’) shall be effective as delivery of a manually executed counterpart of this
letter agreement. This letter agreement shall be governed by, and construed in accordance with, the law of the State of New York. 

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT M-1 

TO CREDIT AGREEMENT 

Form of 
 Bailee Agreement 

BAILEE AGREEMENT 
 THIS
BAILEE AGREEMENT is entered into as of                     , by and among SILICON VALLEY BANK, in its capacity as collateral agent for the
Lenders (in such capacity, the “Collateral Agent”),                      (“Custodian”), and SUNRUN INC., a Delaware
corporation, AEE SOLAR, INC., a California corporation, SUNRUN SOUTH LLC, a Delaware limited liability company, and SUNRUN INSTALLATION SERVICES INC., a Delaware corporation (collectively, the “Borrowers”). 

WHEREAS, Custodian has warehouse facilities at
                     (“Warehouse”), in which it stores or handles inventory of the Borrowers (“Inventory”) from
time to time; and from time to time pursuant to that certain [describe applicable agreement], dated as of [                 ], 20[    ]
(the “Custodian Agreement”), between Custodian and the Borrowers; 
 WHEREAS, pursuant to that certain Credit
Agreement, dated as of April 1, 2015 (as amended, modified, extended, restated, replaced, or supplemented from time to time, “Credit Agreement”), by and among the Borrowers, the guarantors from time to time party thereto, the
lenders and other financial institutions from time to time party thereto (the “Lenders”), Credit Suisse AG, Cayman Islands Branch, in its capacity as administrative agent for the Lenders (in such capacity, the
“Administrative Agent”), and the Collateral Agent, the Administrative Agent and the Lenders have agreed to provide advances and other financial accommodations to the Borrowers, and the Administrative Agent and the Lenders agree to
provide such financing only if Custodian and the Borrowers agree upon the storage and handling of the Inventory as set forth herein; and 

WHEREAS, as security for the payment and performance of the Obligations (as defined in the Credit Agreement), the Borrowers have
granted a security interest to the Collateral Agent in certain of the inventory that will be stored at the Warehouse (together with all additions, substitutions, replacements and improvements to, and proceeds of, the foregoing, collectively, the
“Collateral Agent Collateral”); 
 NOW, THEREFORE, for valuable consideration hereby acknowledged, the parties agree
as follows: 
  

	 	1.	 Custodian is hereby notified that Collateral Agent has a security interest in the Collateral Agent Collateral. Custodian agrees not to claim any
ownership of any Collateral Agent Collateral, agrees not to encumber, lease, transfer or otherwise dispose of any Collateral Agent Collateral except as permitted hereunder or otherwise instructed in writing by Collateral Agent, and agrees that it
holds all Collateral Agent Collateral as agent for Collateral Agent for the purpose of 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

	 	
perfecting Collateral Agent’s security interest therein. Custodian hereby subordinates all of its present and future rights of levy, distraint, demand, lien, encumbrance or seizure with
respect to such Collateral Agent Collateral, to Collateral Agent’s security interest and rights in the Collateral Agent Collateral. 

  

	 	2.	Custodian shall institute, supervise, control and maintain records and procedures in order to control the receipt, storage and delivery of the Collateral Agent Collateral. Custodian shall fully supervise, control and
protect, the Collateral Agent Collateral and its records of same at the Warehouse and shall sufficiently label such Collateral Agent Collateral so as to be identifiable as being Collateral Agent Collateral. 

 

	 	3.	Custodian shall allow Collateral Agent at its discretion, from time to time during normal business hours, to examine the Collateral Agent Collateral, to verify that all Collateral Agent Collateral has been properly
accounted for and that Custodian and Borrowers are in compliance with this Agreement, and to obtain copies of Custodian’s records relating to the Collateral Agent Collateral and this Agreement. Custodian agrees to give Collateral Agent at least
20 days advance written notice of any change in address or location of the Warehouse. 

  

	 	4.	Custodian will be bonded at all times, which bond shall be issued by a company and on terms reasonably acceptable to Collateral Agent. Custodian will at all times keep the Collateral Agent Collateral insured for full
value against all insurable risks, on terms acceptable to Collateral Agent. Custodian will notify Collateral Agent in writing at least 10 days before changing or canceling any such insurance. 

 

	 	5.	Custodian shall report to Collateral Agent immediately, or as soon as is reasonably possible, if any Inventory is missing, lost, damaged or destroyed, or if Custodian receives notice of any attachment, lien or other
claim affecting the Collateral Agent Collateral. 

  

	 	6.	Custodian acknowledges and agrees that the Collateral Agent Collateral shall at all times be moveable personal property. From time to time, Collateral Agent may enter the Warehouse to enforce its rights in and to the
Collateral Agent Collateral, and Custodian will not interfere with any such actions; provided that Collateral Agent is escorted by an employee or agent of Custodian at all times while in the Warehouse. 

 

	 	7.	 If Borrowers are ever in material default under the Custodian Agreement, Custodian will promptly notify Collateral Agent in writing and provide at
least 30 days thereafter for Collateral Agent to cure such default. If, as a result of any default by Borrowers or otherwise, Custodian decides to terminate the Custodian Agreement, then Custodian shall so notify Collateral Agent in writing and
Collateral Agent shall have 30 days after receipt of such notice to remove Collateral Agent Collateral from the Warehouse, prior to any exercise of rights by Custodian. Notwithstanding anything herein to the contrary, in no event shall

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

	 	
Collateral Agent be responsible for any obligations of Borrowers to Custodian under the Custodian Agreement or otherwise, unless Collateral Agent specifically agrees in writing to accept same.

  

	 	8.	Upon Collateral Agent’s request, Custodian will promptly provide to Collateral Agent a copy of Borrowers’ monthly statement of charges. 

 

	 	9.	Custodian agrees not to issue any warehouse receipts or other document of title relating to Collateral Agent Collateral. 

  

	 	10.	This Agreement shall remain in full force and effect until all obligations of Borrowers owing to Collateral Agent have been indefeasibly paid or performed in full, or until all Collateral Agent Collateral has been
removed from the Warehouse. Any notices or other communications under this Agreement shall be made to the notice address the recipient party has set forth on the signature page hereto or such other notice address as the recipient party shall
hereafter designate in writing to the other parties and shall be deemed given when received if delivered personally, via electronic mail or by facsimile transmission with completed transmission acknowledgment, or when delivered or when delivery is
refused if mailed by overnight delivery via a nationally recognized courier or registered or certified first class mail (return receipt requested), postage prepaid. 

 

	 	11.	This Agreement shall be governed by and construed in accordance with the laws of the State of [California]38, and may be modified only in writing signed by both
parties. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors and assigns. 

[Signature Pages Follow] 

 

	38 	Insert warehouse location. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 IN WITNESS WHEREOF, the parties have executed this Bailee Agreement as of the date set
forth above. 
  

									
	Notice address:				COLLATERAL AGENT:
			
	 3003 Tasman Drive
 Santa Clara, CA
95054
 Attn: Jordan Kanis
				SILICON VALLEY BANK 
							By:		  

									Name:
									Title:
			
	Notice address:				CUSTODIAN:
			
	  
				  

	  
				
	Attn:		  
						
							By:		  

									Name:
									Title:
			
	Notice address:				BORROWERS:
				
							SUNRUN INC.
	595 Market Street, 29th Floor						
	San Francisco, CA 94105						
	Attn: General Counsel						
							By:		  

									Name:
									Title:
				
							AEE SOLAR, INC.
	595 Market Street, 29th Floor						
	San Francisco, CA 94105						
	Attn: General Counsel						
							By:		  

									Name:
									Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

									
	Notice address:				BORROWERS:
			
					SUNRUN SOUTH LLC
	595 Market Street, 29th Floor						
	San Francisco, CA 94105						
	Attn: General Counsel						
							By:		  

									Name:
									Title:
				
							SUNRUN INSTALLATION SERVICES INC.
	595 Market Street, 29th Floor						
	San Francisco, CA 94105						
	Attn: General Counsel						
							By:		  

									Name:
									Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT M-2 

TO CREDIT AGREEMENT 

Form of 
 Landlord Waiver

 Drawn by and return to: 
 Silicon Valley Bank 

3003 Tasman Drive 
 Santa Clara, CA 95054 

Attn: Jordan Kanis 
 THIS LANDLORD AGREEMENT
(this “Agreement”) is entered as of this [    ] day of [            , 20    ] by and between
[                    ], a [                    ]
(“Landlord”), the owner of certain real property, buildings and improvements located in [                    ], and Silicon Valley
Bank, in its capacity as collateral agent (the “Collateral Agent”) for the lenders (the “Lenders”) providing certain credit facilities pursuant to that certain Credit Agreement, dated as of April 1, 2015 (as
amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement), by and
among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc., a Delaware corporation (collectively, the
“Borrowers”), the guarantors from time to time party thereto (the “Guarantors” and, together with the Borrowers, the “Loan Parties”), the Lenders, the Collateral Agent and Credit Suisse AG, Cayman
Islands Branch, in its capacity as administrative agent. 
 Recitals: 

A. The Lenders have agreed to provide the Borrowers with certain loan facilities and other financial accommodations (the “Loan
Facilities”) under the terms and conditions of the Credit Agreement, which Loan Facilities are guaranteed by the Guarantors. The Loan Parties have secured the repayment of the Loan Facilities and certain other obligations (collectively, the
“Secured Obligations”) by granting the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in all of the Loan Parties’ personal property, whether now owned or hereafter acquired, including all
proceeds of any of the foregoing (collectively, the “Collateral”). 
 B. Whereas Landlord is the lessor under the lease
described in Exhibit A attached hereto (the “Lease”) with [                    ] (the “Tenant”) as lessee
pursuant to which Landlord has leased certain premises to Tenant located at [                    ] (the “Premises”). 

C. As a condition to extending the Loan Facilities, the Lenders and the Collateral Agent have requested that the Loan Parties obtain, and
cause the Landlord to provide, a waiver and subordination, pursuant to the terms of this Agreement, of all of its rights against any of the Collateral until the Facility Termination Date. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 NOW, THEREFORE, in consideration of the foregoing, and the mutual benefits accruing to the
Collateral Agent and Landlord as a result of the Loan Facilities provided by the Lenders pursuant to the Credit Agreement, the sufficiency and receipt of such consideration being hereby acknowledged, the parties hereto agree as follows: 

1. Landlord hereby subordinates in favor of the Collateral Agent, for the benefit of the Secured Parties, any and all rights or interests that
Landlord, or its successors and assigns, may now or hereafter have in or to the Collateral, including, without limitation, any lien, claim, charge or encumbrance of any kind or nature, arising by statute, contract, common law or otherwise. 

2. Landlord hereby agrees that the liens and security interests existing in favor of the Collateral Agent, for the ratable benefit of the
Secured Parties, shall be prior and superior to (a) any and all rights of distraint, levy, and execution which Landlord may now or hereafter have against the Collateral, (b) any and all liens and security interests which Landlord may now
or hereafter have on and in the Collateral, and (c) any and all other rights, demands and claims of every nature whatsoever which Landlord may now or hereafter have on or against the Collateral for any reason whatsoever, including, without
limitation, rent, storage charge, or similar expense, cost or sum due or to become due Landlord by Tenant under the provisions of any lease, storage agreement or otherwise, and Landlord hereby subordinates all of its foregoing rights and interests
in the Collateral to the security interest of the Collateral Agent in the Collateral. Landlord deems the Collateral to be personal property, not fixtures. 

3. Upon the advance written notice from the Collateral Agent that an event of default has occurred and is continuing under the Credit
Agreement, Landlord agrees that the Collateral Agent or its delegates or assigns may enter upon the Premises at any time or times, during normal business hours, to inspect or remove the Collateral, or any part thereof, from the Premises, without
charge, either prior to or subsequent to the termination of the Lease; provided that in any event such removal shall occur no later than forty-five (45) days after the termination of the Lease. The Collateral Agent shall repair or pay
reasonable compensation to Landlord for damage, if any, to the Premises caused by the removal of the Collateral. In addition to the above removal rights, the Landlord will permit the Collateral Agent to remain on the Premises for forty-five
(45) days after the Collateral Agent gives the Landlord notice of its intention to do so and to take such action as the Collateral Agent deems necessary or appropriate in order to liquidate the Collateral; provided that the Collateral
Agent shall pay to the Landlord the basic rent due under the Lease pro-rated on a per diem basis determined on a 30-day month (provided, that such rent shall exclude any rent adjustments, indemnity payments or similar amounts payable under the Lease
for default, holdover status or similar charges). 
 4. Landlord represents and warrants: (a) that it has not assigned its claims for
payment, if any, nor its right to perfect or assert a lien of any kind whatsoever against Tenant’s Collateral; (b) that it has the right, power and authority to execute this Agreement; (c) that it holds legal title to the Premises;
(d) that it is not aware of any breach or default by the Tenant of its obligations under the Lease with respect to the Premises; and (e) the Lease, together with all 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
assignments, modifications, supplementations and amendments set forth in Exhibit A, represents, as of the date hereof, the entire agreement between the parties with respect to the lease of
the Premises. Landlord further agrees to provide the Collateral Agent with prompt written notice in the event that Landlord sells the Premises or any portion thereof. 

5. The Landlord shall send to the Collateral Agent (in the manner provided herein) a copy of any notice or statement sent to the Tenant by the
Landlord asserting a default under the Lease. Such copy shall be sent to the Collateral Agent at the same time such notice or statement is sent to the Tenant. Notices shall be sent to the Collateral Agent by prepaid, registered or certified mail,
addressed to the Collateral Agent at the following address, or such other address as the Collateral Agent shall designate to the Landlord in writing: 
  

			
			Silicon Valley Bank, as Collateral Agent
			 3003 Tasman Drive
 Santa Clara, CA 95054

Attn: Jordan Kanis

 6. The Landlord shall not terminate the Lease or pursue any other right or remedy under the Lease by reason of
any default of the Tenant under the Lease, until the Landlord shall have given a copy of such written notice to the Collateral Agent as provided above and, in the event any such default is not cured by the Tenant within any time period provided for
under the terms and conditions of the Lease, the Landlord will allow the Collateral Agent (a) thirty (30) days from the expiration of the Tenant’s cure period under the Lease within which the Collateral Agent shall have the right, but
shall not be obligated, to remedy such act, omission or other default and Landlord will accept such performance by the Collateral Agent and (b) up to an additional sixty (60) days to occupy the Premises; provided that during such period of
occupation the Collateral Agent shall pay to the Landlord the basic rent due under the Lease pro-rated on a per diem basis determined on a thirty (30) day month (provided that such rent shall exclude any rent adjustments, indemnity payments or
similar amounts payable under the Lease for default, holdover or similar charge). 
 7. The undersigned will notify all successor owners,
transferees, purchasers and mortgagees of the Premises of the existence of this Agreement. The agreements contained herein may not be modified or terminated orally and shall be binding upon the successors, assigns and personal representatives of the
undersigned, upon any successor owner or transferee of the Premises, and upon any purchasers, including any mortgagee, from the undersigned. 

8. This Agreement shall continue in effect during the term of the Credit Agreement, and any extensions, renewals or modifications thereof and
any substitutions therefor, shall be binding upon the successors, assigns and transferees of Landlord, and shall inure to the benefit of the transferees of Landlord, and shall inure to the benefit of the Collateral Agent, each Secured Party and
their respective successors and assigns. Landlord hereby waives notice of the Collateral Agent’s acceptance of and reliance on this Agreement. 

9. This Agreement may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Agreement by fax transmission or other electronic mail transmission (e.g., “pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 10. This Agreement shall be governed by, and construed and interpreted in accordance with, the
law of the State of New York. All judicial proceedings brought by the Landlord, the Collateral Agent or the Tenant with respect to this Agreement may be brought in any state or federal court of competent jurisdiction in the State of New York, and,
by execution and delivery of this Agreement, each of the Landlord, the Collateral Agent and the Tenant accepts, for itself and in connection with its properties, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts
and irrevocably agrees to be bound by any final judgment rendered thereby in connection with this Agreement from which no appeal has been taken or is available. 

11. This Agreement represents the agreement of the Landlord, the Collateral Agent and the Tenant with respect to the subject matter hereof,
and there are no promises, undertakings, representations or warranties by the Landlord, the Collateral Agent and the Tenant relative to the subject matter hereof not expressly set forth or referred to herein. 

12. This Agreement may not be amended, modified or waived except by a written amendment or instrument signed by each of the Landlord, the
Collateral Agent and the Tenant. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 IN WITNESS WHEREOF, Landlord, Tenant and the Collateral Agent have each caused this Agreement to
be duly executed by their respective authorized representatives as of the date first above written. 
  

			
	                                    
                                         
          ,
	as Landlord
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

			
	Acknowledged and Agreed
	                                    
                                         
     ,
	as Tenant
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

			
	Acknowledged and Agreed
	
	 SILICON VALLEY BANK,
 as Collateral
Agent

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Exhibit A to Landlord Waiver 

Lease 
 [TO BE ATTACHED]

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT N 

TO CREDIT AGREEMENT 

Form of 
 Financial
Condition Certificate 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

 Pursuant to the terms of Section 4.01(g) of the Credit Agreement, a Responsible Officer of the Borrowers
hereby certifies on behalf of the Loan Parties and not in any individual capacity that, as of the date hereof, the statements below are accurate and complete in all respects: 

(a) There does not exist any pending, ongoing or, to the knowledge of the Loan Parties, threatened action, suit, investigation, litigation or
proceeding that could reasonably be expected to have a Material Adverse Effect in any court or before any arbitrator or Governmental Authority (i) affecting the Credit Agreement or the other Loan Documents, that has not been settled, dismissed,
vacated, discharged or terminated prior to the Closing Date or (ii) that purports to affect any Loan Party or any transaction contemplated by the Loan Documents and has not been settled, dismissed, vacated, discharged or terminated prior to the
Closing Date. 
 (b) Immediately after giving effect to the Credit Agreement, the other Loan Documents and all transactions contemplated by
the Credit Agreement to occur on the Closing Date, (i) no Default or Event of Default exists, (ii) all representations and warranties contained in the Credit Agreement and in the other Loan Documents that contain a materiality
qualification are true and correct in all respects, and all representations and warranties contained in the Credit Agreement and in the other Loan Documents that do not contain a materiality qualification are true and correct in all material
respects, in each case, on and as of the Closing Date (or if such representations and warranties expressly relate to an earlier date, as of such earlier date), and (iii) the Borrowers are in pro forma compliance with each of the initial
financial covenants set forth in Section 7.11 of the Credit Agreement, as demonstrated by the financial covenant calculations set forth on Schedule A attached hereto, as of the last day of the month ending at least twenty (20) days
preceding the Closing Date. 
 (c) Immediately after giving effect to the Credit Agreement, the other Loan Documents and all transactions
contemplated by the Credit Agreement to occur on the Closing Date, each of the conditions precedent in Section 4.01 have been satisfied. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Delivery of an executed counterpart of a signature page of this Certificate by fax transmission
or other electronic mail transmission (e.g., “pdf’ or “tiff’) shall be effective as delivery of a manually executed counterpart of this Certificate. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Financial Condition Certificate 

 Schedule A 

Financial Covenant Calculations 

Financial Statement Date: [            ,
        ] (“Statement Date”) 
 to the Compliance Certificate 

($ in 000’s) 
  

													
	 I.
		Section 7.11(a) — Unencumbered Liquidity				
				
			 A.
		Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which
the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien:		$	            	  
			
			 Compliance
				
			
			The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $            1, which has been measured as of the last day of the month ended [        , 201    ], [is] [is not] greater than or equal to the minimum
permitted Unencumbered Liquidity amount of $25,000,000 required as of such month end.2				
			
	 II.
		 Section 7.11(b) — Interest Coverage Ratio
				
				
			 A.
		Numerator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available):				
						
							 i.
		Operating income (measured in accordance with GAAP) plus depreciation and amortization included in COGS		$	            	  
						
							 ii.
		[***] of general and administration costs (G&A, as measured in accordance with GAAP)		$	            	  

  

	1 	Insert Line I.A. 

	2 	Pursuant to Section 7.11(a), an Event of Default shall not be deemed to have occurred solely as a result of the Borrowers’ failure to maintain an Unencumbered Liquidity of at least $25,000,000 as of any month
end unless its Unencumbered Liquidity is less then such amount on two consecutive measurement dates; provided that Unencumbered Liquidity shall not be less than $20,000,000 as of the last day of any month. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

													
							iii.		[***] percent of sales and marketing costs (S&M, as measured in accordance with GAAP)		$	            	  
						
							iv.		[***] percent of research and development costs (R&D, as measured in accordance with GAAP)		$	            	  
						
							v.		Sum of Line II.A.i + Line II.A.ii + Line II.A.iii + Line II.A.iv		$	            	  
				
			B.		Denominator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available, which is to be paid in cash, in each case, of or by the Borrowers and their Subsidiaries, other than
Excluded Subsidiaries, for such period of measurement):				
						
							i.		all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the
extent treated as interest in accordance with GAAP		$	            	  
						
							ii.		all interest paid or payable with respect to discontinued operations		$	            	  
						
							iii.		the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP		$	            	  
						
							iv.		Aggregate cash Interest Charges of the Borrowers and their Subsidiaries, other than Excluded Subsidiaries (which Interest Charges shall not be determined on a Consolidated basis): Sum of Line II.B.i + Line II.B.ii + Line
II.B.iii		$	            	  
				
			C.		Interest Coverage Ratio				
					(Line II.A.iii ÷ Line II.B.iv):		 	     to 1.00	  
				
					Compliance				
				
					The Borrowers [are] [are not] in compliance with Section 7.11(b) of the Credit Agreement as the Interest Coverage Ratio of     3 to 1.00 [is][is
not] greater than or equal to the minimum permitted Interest Coverage Ratio of 2.00 to 1.00.				

  

	3 	Insert Line II.C. 

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT O 

TO CREDIT AGREEMENT 

Form of 
 Authorization
to Share Insurance Information 
  

			
	TO:		Insurance Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

 

			
	Grantors:		Sunrun Inc., AEE Solar, Inc., Sunrun South LLC and Sunrun Installation Services Inc. (collectively, the “Grantors”)
		
	Administrative Agent:		 Credit Suisse AG, Cayman Islands Branch, as Administrative Agent for the Secured Parties, I.S.A.O.A., A.T.I.M.A.* (the “Administrative Agent”)
 c/o Credit Suisse, US Agency

7033 Louis Stephens Drive
 Research Triangle Park, NC 27560

Attn: Rachel Cooper

		
	Collateral Agent:		 Silicon Valley Bank,
 as Collateral Agent for
the Secured Parties,
 I.S.A.O.A., A.T.I.M.A. (the “Collateral Agent”)

Silicon Valley Bank
 3003 Tasman Drive

Santa Clara, CA 95054
 Attn: Jordan Kanis

		
	Policy Number:		See attached Exhibit 1.

  

	*	I.S.A.O.A. stands for “its successors and/or assigns.” A.T.I.M.A. stands for “as their interest may appear.” 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

			
	Insurance Company/Agent:		See attached Exhibit 1.
		
	Insurance Company Address:		See attached Exhibit 1.
		
	Insurance Company Telephone No.:		See attached Exhibit 1.
		
	Insurance Company Fax No.:		See attached Exhibit 1.

 The Grantors hereby authorize the Insurance Agent to send evidence of all insurance to the Administrative Agent and the
Collateral Agent, as may be requested by the Administrative Agent or the Collateral Agent, together with requested insurance policies, certificates of insurance, declarations and endorsements. 

Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other electronic mail transmission (e.g., “pdf”
or “tif”) shall be effective as delivery of a manually executed counterpart of this Certificate. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 
  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Authorization to Share Insurance Information 

 Exhibit 1 to 

Authorization to Share Insurance Information 

See attached. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT P 

TO CREDIT AGREEMENT 

Form of 
 Borrowing Base
Certificate 
  

			
	TO:		 Credit Suisse AG, Cayman Islands Branch, as Administrative Agent

Silicon Valley Bank, as Collateral Agent

		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

This Borrowing Base Certificate (this “Certificate”) is submitted pursuant to Section 6.02(m) of the Credit Agreement.
Pursuant to the Collateral Documents, the Collateral Agent has been granted a security interest in all of the Collateral referred to in this Certificate and has a valid perfected first priority security interest in the Collateral, subject to
Permitted Liens. The undersigned certifies as follows: 
  

	 	1.	Exhibit A attached hereto sets forth a true and accurate calculation of the Borrowing Base as of the close of business for the fiscal month ended
[            ], 20[    ]. 

  

	 	2.	Attached hereto as Exhibit B is a Back-Log Spreadsheet as of the close of business for the fiscal month ended [            ],
20[    ]. 

  

	 	3.	Attached hereto as Exhibit C is a Take-Out Spreadsheet as of the close of business for the fiscal month ended [            ],
20[    ]. 

  

	 	4.	The following is true and accurate as of the close of business for the fiscal month ended [            ], 20[    ]. 

 

			
	 (a)    Borrowing Base
		$            
		
	 (b)    Facility
		$            
		
	 (c)    Aggregate Outstanding Amount of Revolving Loans
		$            
		
	 (d)    Aggregate Outstanding Amount of L/C Obligations
		$            

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

			
	 (e)    Sum of Item (c) plus Item (d)
		$            
		
	 (f)     Difference of Item (b) minus Item (e)
		$            
		
	 (g)    Borrowing Availability (lesser of Item (a) and Item (f))
		$            

  

	 	5.	[A Borrowing Base Deficiency exists in an amount [in excess of] [equal to] [less than] twenty percent (20%) of the Borrowing Base, as set forth below. 

 

			
	 (h)    Difference of Item (e) minus Item (a)
		$            
		
	 (i)     Product of 20% and Item (a)
		$            ]42

  

	 	6.	[As of the close of business for the fiscal month ended [            ], 20[    ], the Borrowers have
$[        ] in unrestricted cash and deposit account balances with respect to which the Collateral Agent has obtained a perfected first priority Lien subject to no other Liens.]43 

  

	 	7.	As of the close of business for the fiscal month ended [            ], 20[    ], (i) megawatts installed were
[                    ], (ii) megawatts added were
[                    ], (iii) net megawatts backlog was
[                    ], and (iv) megawatts terminated were
[                    ]. 

  

	 	8.	As of the close of business for the fiscal month ended [            ], 20[    ], the Unencumbered Liquidity was
$[            ]. 

  

	 	9.	Attached hereto as Exhibit D is a listing, as of the close of business for the fiscal month ended [            ], 20[    ], of any
contracts that have become ineligible for Tranching under any open Tax Equity Partnership (including the number, face value and reasons for rejection). 

  

	 	10.	As of the closing of business for the fiscal month ended [            ], 20[    ], no Default or Event of Default has occurred or is
continuing. 

 Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other
electronic mail transmission (e.g., “pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this Certificate. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

	42 	Only applicable if Item (e) is greater than Item (a). 

	43 	Only applicable if a Borrowing Base Deficiency exists in an amount equal to or less than twenty percent (20%) of the Borrowing Base. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Exhibit A 

CALCULATION OF THE BORROWING BASE 
  

			
	 1.    Eligible Project Back-Log (appraised fair market value) (see Attachment 1 hereto)
		$            
		
	 2.    Product of [***] and Item 1
		$            
		
	 3.    Eligible Take-Out (see Attachment 2 hereto)
		$            
		
	 4.    Backlever Financing required to collateralize Item 10
		$            
		
	 5.    Difference of Item 3 minus Item 4
		$            
		
	 6.    Product of [***] and Item 5
		$            
		
	 7.    Net Retained Value
		$            
		
	 8.    Product of [***] and Item 7
		$            
		
	 9.    Least of Item 2, Item 6 and Item 8
		$            
		
	 10. Committed but undrawn Backlever Financing proceeds for Projects that have been sold or contributed to a Project Fund or a Tax
Equity Investor (and removed from Eligible Project Back-Log in Item 1)
		$            
		
	 11. Product of [***] and Item 10
		$            
		
	 12. Eligible Hawaii Tax Credit Receivables expected to be received on Projects that have achieved Milestone One
		$            
		
	 13. Product of [***] and Item 1244
		$            
		
	 14. Eligible Customer Upfront Payment Receivables expected to be received on Projects that have achieved Milestone One
		$            
		
	 15. Product of [***] and Item 14
		$            
		
	 16. Estimated final sale value of direct cash sale Projects in the Project Back-Log
		$            

 

	44 	Up to a maximum of $40,000,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

			
	 17. Product of [***] and Item 16
		$            
		
	 18. Eligible Trade Accounts of AEE and SIS
		$            
		
	 19. Product of [***] and Item 18
		$            
		
	 20. Eligible Inventory for sale to third parties held by AEE
		$            
		
	 21. Product of [***] and Item 2045
		$            
		
	 22. Borrowing Base (sum of Item 9 plus Item 11 plus Item 13 plus Item 15 plus Item 17 plus
Item 19 plus Item 21)
		$            

  

	45 	Up to a maximum of $40,000,000. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 ATTACHMENT 1 

CALCULATION OF ELIGIBLE PROJECT BACK-LOG 
  

							
	 1.      
		Project Back-Log (see Back-Log Spreadsheet)				$            
				
			1(a).    Terminated contracts for Projects 		$            		
				
			1(b).    Cash sale Projects 		$            		
				
	 2.      
		An incremental % of Projects for which the period of time during which the applicable customer can terminate the Host Customer Agreement has not yet expired, which incremental % shall be equal to the % which, when combined with the
cancelled Projects previously excluded from the Project Backlog, would result in an overall cancellation rate of [***]% of the total value of Projects that have achieved Sunrun Sign-Off over the prior twelve (12) months				$            
				
	 3.      
		Projects which are purchased in cash by a customer (to the extent included in Project Back-Log)				$            
				
	 4.      
		Projects which are subject to any Lien other than (i) Liens in favor of the Collateral Agent and (ii) Liens thereon permitted under Section 7.01 of the Credit Agreement				$            
				
	 5.      
		Projects in which any Person other than a Loan Party shall have any ownership interest or any other interest or title, other than (i) any such interest or title of any customer pursuant to the Host Customer Agreement related thereto
and (ii) Liens thereon permitted under Section 7.01 of the Credit Agreement				$            
				
	 6.      
		Projects that are not Tax Credit Eligible Projects				$            
				
	 7.      
		Projects the PV Systems related to which use solar photovoltaic panels or inverters that were obtained from, or are a product of, a manufacturer that has not been approved by any Tax Equity Investor or provider of Backlever
Financing				$            
				
	 8.      
		Projects located in a state or locality that has not been approved by any Tax Equity Investor or provider of Backlever Financing				$            
				
	 9.      
		Projects for which any manufacturer’s warranty related to the photovoltaic panels and inverters related thereto is not in full force or effect or cannot be enforced by a Loan Party				$            

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

							
	 10.
		 Inactive Projects
		$	            	  
			
	 11.
		 To the extent applicable, Projects specifically identified to be Tranched in order to cure the True-Up Liability
		$	            	  
			
	 12.
		 Projects which have been identified for Tranching using Available Take-Out which is not Eligible Take-Out
		$	            	  
			
	 13.
		 Sum of Item 2 through Item 12
		$	            	  
			
	 14.
		 Eligible Project Back-Log (difference of Item 1 minus Item 13)
		$	            	  

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 ATTACHMENT 2 

CALCULATION OF ELIGIBLE TAKE-OUT 
  

							
	 1.
		The aggregate amount of each Tax Equity Investor’s undrawn Tax Equity Commitment plus all drawn but unused amounts under such Tax Equity Commitment (see Take-Out Spreadsheet)		$	            	  
			
	 2.
		The aggregate amount of committed and undrawn Backlever Financing (see Take-Out Spreadsheet)		$	            	  
			
	 3.
		The aggregate amount of committed and undrawn financings acceptable to the Collateral Agent and the Required Lenders (and not otherwise covered by Items 1 and 2) (see Take-Out Spreadsheet)		$	            	  
			
	 4.
		Sum of Item 1 through Item 3		$	            	  
			
	 5.
		The aggregate amount of Available Take-Out provided by any Person (i) that has provided written notice that it disputes its obligation to fund such Available Take-Out, (ii) that generally made statements that it is unable to satisfy
its funding obligations, or (iii) for which any Person may have any valid and asserted claim, demand, or liability whether by action, suit, counterclaim or otherwise against such Available Take-Out		$	            	  
			
	 6.
		The aggregate amount of Available Take-Out provided by a Person who is the subject of any action or proceeding of a type described in Section 8.01(f) of the Credit Agreement		$	            	  
			
	 7.
		The aggregate amount of set-off with respect to any Available Take-Out provided by a Person who has the right of offset with respect to any amounts owed to such Person by any Borrower or its Subsidiaries		$	            	  
			
	 8.
		The aggregate amount of any Available Take-Out with respect to which a Loan Party or any Subsidiary has given or received formal written notice that a default or event of default has occurred and is continuing under the documents
governing the applicable Tax Equity Commitments or Backlever Financing, or has knowledge of the occurrence and continuation of such default or event of default but has not given such formal written notice; provided that this amount shall not
include such Available Take-Out to the extent that (x) any default that has not become an event of default there under has been cured				

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

							
			within the applicable cure period thereunder and (y) no Material Adverse Effect has resulted from such default; and provided, further, that this amount shall include such Available Take-Out solely to the extent that
the Tax Equity Investor or the provider of Backlever Financing would, as a result of the continuation of such default or event of default, have the right to cease funding (unless such right to cease funding has been waived)		$	            	  
			
	 9.
		 Sum of Item 5 through Item 8
		$	            	  
			
	 10.
		Eligible Take-Out (difference of Item 4 minus Item 9)		$	            	  

  
 [***] Confidential treatment has been requested for the
bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Exhibit B 

Form of 
 Back-Log
Spreadsheet 
  

					
	Project Back-Log
	Total PV
System Size
(in kW)	  	Average PV
System FMV (in
$/W)1	  	Total PV System
Value (in $)
		  		  	

 1 - Insert amount as determined by the definition of PV System Value in the Credit Agreement 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Exhibit C 

Form of 
 Take-Out
Spreadsheet 
  

													
	 Available Take-Out

	 Fund
	  	Investor /
Backlever
Financing
Provider	  	Close Date	  	Commitment
Amount	  	Total
Investor
Contributions	  	Total
Unused
Contributions	  	Remaining
Undrawn
Commitment
		  		  		  		  		  		  	
		  	  
	  	  
	  	  
	  	  
	  	  
	  	  

							
	 Total
												

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Exhibit D 

[Listing of any contracts that have become ineligible for Tranching under any open Tax Equity Partnership (including the number, face value
and reasons for rejection)] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT Q 

TO CREDIT AGREEMENT 

Form of 
 Back-Log
Spreadsheet 
  

					
	Available Backlog
	Total PV
System Size
(in kW)	  	Average PV
System FMV (in
$/W)1	  	Total PV System
Value (in $)
		  		  	
		  		  	
		  		  	

 1 - Insert amount as determined by the definition of PV System Value in the Credit Agreement 

 
 [***] Confidential treatment has been requested for the bracketed portions. The
confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT R 

TO CREDIT AGREEMENT 

Form of 
 Take-Out
Spreadsheet 
  

													
	 Available Take-Out

	 Fund
	  	Investor /
Backlever
Financing
Provider	  	Close Date	  	Commitment
Amount	  	Total
Investor
Contributions	  	Total
Unused
Contributions	  	Remaining
Undrawn
Commitment
		  		  		  		  		  		  	
		  	  
	  	  
	  	  
	  	  
	  	  
	  	  

							
	 Total
												

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXHIBIT S 

TO CREDIT AGREEMENT 

Form of 
 Financial
Covenants Certificate 
  

			
	TO:		Credit Suisse AG, Cayman Islands Branch, as Administrative Agent
		
	RE:		Credit Agreement, dated as of April 1, 2015, by and among Sunrun Inc., a Delaware corporation, AEE Solar, Inc., a California corporation, Sunrun South LLC, a Delaware limited liability company, and Sunrun Installation Services Inc.,
a Delaware corporation (collectively, the “Borrowers”), the Guarantors, the Lenders, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, and Silicon Valley Bank, as Collateral Agent (as amended, modified, extended,
restated, replaced, or supplemented from time to time, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Credit Agreement)
		
	DATE:		[Date]

  
  

The undersigned Responsible Officer of the Borrowers hereby certifies as follows: 
  

											
	I.		Section 7.11(a) — Unencumbered Liquidity		
				
			A.		Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which
the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien:		$            
					  
 Compliance
		
					  
 The Borrowers [are] [are not] in compliance with
Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $        46, which has been measured as of the last day of the month ended
[            , 201    ], [is][is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $25,000,000 required as of such month end.47    
		

  

	46 	Insert Line I.A. 

	47 	Pursuant to Section 7.11(a), an Event of Default shall not be deemed to have occurred solely as a result of the Borrowers’ failure to maintain an Unencumbered Liquidity of at least $25,000,000 as of any month
end unless its Unencumbered Liquidity is less then such amount on two consecutive measurement dates; provided that Unencumbered Liquidity shall not be less than $20,000,000 as of the last day of any month. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

											
	II.		Section 7.11(b) — Interest Coverage Ratio		
				
			 A.
		Numerator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available):		
						
							 i.
		Operating income (measured in accordance with GAAP) plus depreciation and amortization included in COGS		$            
						
							 ii.
		[***] of general and administration costs (G&A, as measured in accordance with GAAP)		$            
						
							 iii.
		[***] percent of sales and marketing costs (S&M, as measured in accordance with GAAP)		$            
						
							 iv.
		[***] percent of research and development costs (R&D, as measured in accordance with GAAP)		$            
						
							 v.
		Sum of Line II.A.i + Line II.A.ii + Line II.A.iii + Line II.A.iv		$            
				
			B.		Denominator (for the prior trailing 12-month period then ending on the most recent fiscal quarter end available, which is to be paid in cash, in each case, of or by the Borrowers and their Subsidiaries, other than
Excluded Subsidiaries, for such period of measurement):		
						
							i.		all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the
extent treated as interest in accordance with GAAP		$            
						
							ii.		all interest paid or payable with respect to discontinued operations		$            
						
							iii.		the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP		$            
						
							iv.		Aggregate cash Interest Charges of the Borrowers and their Subsidiaries, other than Excluded Subsidiaries (which Interest Charges shall not be determined on a Consolidated basis): Sum of Line II.B.i + Line II.B.ii + Line
II.B.iii		$            
				
			C.		Interest Coverage Ratio (Line II.A.iii ÷ Line II.B.iv):		     to 1.00
					  
 Compliance

 
 The Borrowers [are] [are not] in compliance with Section 7.11(b) of the Credit
Agreement as the Interest Coverage Ratio of     48 to 1.00 [is][is not] greater than or equal to the minimum permitted Interest Coverage Ratio of 2.00 to 1.00.
		

  

	48 	Insert Line II.C. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other
electronic mail transmission (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Certificate. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	 SUNRUN INC.,
 a Delaware
corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 AEE SOLAR, INC.,
 a
California corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN SOUTH LLC,
 a Delaware
limited liability company, as Borrower

		
	By:		  

	Name:		  

	Title:		  

	
	 SUNRUN INSTALLATION SERVICES INC.,

a Delaware corporation, as Borrower

		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.EX-10.18

 Exhibit 10.18 

Execution Version 

CREDIT AGREEMENT 
 among 

SUNRUN AURORA PORTFOLIO 2014-A, LLC, 

as Borrower, 
 INVESTEC BANK PLC,

 as Administrative Agent, 

KEYBANK NATIONAL ASSOCIATION, 
 as
Issuing Bank, 
 and 
 The
Lenders From Time to Time Party Hereto 
 dated as of December 31, 2014 

 
  

INVESTEC BANK PLC 
 Sole
Bookrunner 
 INVESTEC BANK PLC, KEYBANK NATIONAL ASSOCIATION, ROYAL BANK OF CANADA AND SUNTRUST ROBINSON HUMPHREY, INC. 

Joint Lead Arrangers 
 KEYBANK
NATIONAL ASSOCIATION 
 Syndication Agent 

ROYAL BANK OF CANADA AND SUNTRUST ROBINSON HUMPHREY, INC. 

Documentation Agents 
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 

 Table of Contents 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	2	  
			
	 Section 1.01
	 	 Definitions
	  	 	2	  
			
	 Section 1.02
	 	 Rules of Construction
	  	 	45	  
			
	 Section 1.03
	 	 Time of Day
	  	 	46	  
			
	 Section 1.04
	 	 Class of Loan
	  	 	46	  
		
	 ARTICLE II THE Loans
	  	 	46	  
			
	 Section 2.01
	 	 The Initial Term Loans
	  	 	46	  
			
	 Section 2.02
	 	 Delayed Draw Term Loans
	  	 	48	  
			
	 Section 2.03
	 	 Working Capital Loans
	  	 	49	  
			
	 Section 2.04
	 	 Letters of Credit
	  	 	51	  
			
	 Section 2.05
	 	 Computation of Interest and Fees
	  	 	57	  
			
	 Section 2.06
	 	 Evidence of Debt
	  	 	58	  
		
	 ARTICLE III Increase of Loan Facilities
	  	 	58	  
			
	 Section 3.01
	 	 Request for Increase
	  	 	58	  
			
	 Section 3.02
	 	 Lender Expressions of Interest
	  	 	59	  
			
	 Section 3.03
	 	 Conditions to Effectiveness of Increase
	  	 	59	  
			
	 Section 3.04
	 	 Amendment of the Loan Documents
	  	 	60	  
		
	 ARTICLE IV ACCOUNTS AND RESERVES
	  	 	61	  
			
	 Section 4.01
	 	 Deposits to Collections Account
	  	 	61	  
		
	 ARTICLE V ALLOCATION OF COLLECTIONS; PAYMENTS TO LENDERS
	  	 	62	  
			
	 Section 5.01
	 	 Payments
	  	 	62	  
			
	 Section 5.02
	 	 Optional Prepayments
	  	 	63	  
			
	 Section 5.03
	 	 Mandatory Principal Payments
	  	 	63	  
			
	 Section 5.04
	 	 Application of Prepayments
	  	 	64	  
			
	 Section 5.05
	 	 Payments of Interest and Principal
	  	 	65	  
			
	 Section 5.06
	 	 Fees
	  	 	66	  
			
	 Section 5.07
	 	 Expenses, etc.
	  	 	67	  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	i	 	

							
			
	 Section 5.08
		 Indemnification
		 	69	  
			
	 Section 5.09
		 Taxes
		 	71	  
			
	 Section 5.10
		 Mitigation Obligations; Replacement of Lenders
		 	76	  
			
	 Section 5.11
		 Change of Circumstances
		 	78	  
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES
		 	80	  
			
	 Section 6.01
		 Organization, Powers, Capitalization, Good Standing, Business
		 	80	  
			
	 Section 6.02
		 Authorization of Borrowing, etc.
		 	81	  
			
	 Section 6.03
		 Title to Membership Interests
		 	82	  
			
	 Section 6.04
		 Governmental Authorization; Compliance with Laws
		 	83	  
			
	 Section 6.05
		 Solvency
		 	83	  
			
	 Section 6.06
		 Use of Proceeds and Margin Security; Governmental Regulation
		 	84	  
			
	 Section 6.07
		 Defaults; No Material Adverse Effect
		 	84	  
			
	 Section 6.08
		 Financial Statements; Books and Records
		 	85	  
			
	 Section 6.09
		 Indebtedness
		 	85	  
			
	 Section 6.10
		 Litigation; Adverse Facts
		 	85	  
			
	 Section 6.11
		 Taxes
		 	85	  
			
	 Section 6.12
		 Performance of Agreements
		 	86	  
			
	 Section 6.13
		 Employee Benefit Plans
		 	86	  
			
	 Section 6.14
		 Insurance
		 	86	  
			
	 Section 6.15
		 Investments
		 	86	  
			
	 Section 6.16
		 Environmental Compliance
		 	87	  
			
	 Section 6.17
		 Project Permits
		 	87	  
			
	 Section 6.18
		 Representations Under Other Loan Documents
		 	87	  
			
	 Section 6.19
		 Broker’s Fee
		 	87	  
			
	 Section 6.20
		 Taxes and Tax Status
		 	87	  
			
	 Section 6.21
		 Sanctions; Anti-Money Laundering and Anti-Corruption
		 	88	  
			
	 Section 6.22
		 Property Rights
		 	89	  
			
	 Section 6.23
		 Portfolio Documents
		 	89	  
			
	 Section 6.24
		 Security Interests
		 	91	  
			
	 Section 6.25
		 Intellectual Property
		 	92	  
			
	 Section 6.26
		 Full Disclosure
		 	92	  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			ii		

							
		
	 ARTICLE VII AFFIRMATIVE COVENANTS
		 	93	  
			
	 Section 7.01
		 Financial Statements and Other Reports
		 	93	  
			
	 Section 7.02
		 Notice of Events of Default
		 	99	  
			
	 Section 7.03
		 Maintenance of Books and Records
		 	99	  
			
	 Section 7.04
		 Litigation
		 	99	  
			
	 Section 7.05
		 Existence; Qualification
		 	100	  
			
	 Section 7.06
		 Taxes
		 	100	  
			
	 Section 7.07
		 Operation and Maintenance
		 	101	  
			
	 Section 7.08
		 Preservation of Rights; Maintenance of Projects; Warranty Claims; Security
		 	101	  
			
	 Section 7.09
		 Compliance with Laws; Environmental Laws
		 	103	  
			
	 Section 7.10
		 Energy Regulatory Laws
		 	103	  
			
	 Section 7.11
		 Interest Rate Hedging
		 	103	  
			
	 Section 7.12
		 Payment of Claims
		 	103	  
			
	 Section 7.13
		 Maintenance of Insurance
		 	104	  
			
	 Section 7.14
		 Inspection
		 	108	  
			
	 Section 7.15
		 Cooperation
		 	108	  
			
	 Section 7.16
		 Collateral Accounts; Collections
		 	108	  
			
	 Section 7.17
		 Performance of Agreements
		 	109	  
			
	 Section 7.18
		 Customer Agreements and REC Contracts
		 	109	  
			
	 Section 7.19
		 Management Agreement
		 	109	  
			
	 Section 7.20
		 Use of Proceeds
		 	110	  
			
	 Section 7.21
		 Project Expenditures
		 	110	  
			
	 Section 7.22
		 Tax Equity Opco Matters
		 	110	  
			
	 Section 7.23
		 Recapture
		 	110	  
			
	 Section 7.24
		 Termination of Servicer
		 	110	  
			
	 Section 7.25
		 Prepaid Customer Agreements
		 	111	  
			
	 Section 7.26
		 Post-Closing Covenants
		 	111	  
		
	 ARTICLE VIII NEGATIVE COVENANTS
		 	112	  
			
	 Section 8.01
		 Indebtedness
		 	112	  
			
	 Section 8.02
		 No Liens
		 	112	  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			iii		

							
			
	 Section 8.03
		 Restriction on Fundamental Changes
		 	113	  
			
	 Section 8.04
		 Bankruptcy, Receivers, Similar Matters
		 	113	  
			
	 Section 8.05
		 ERISA
		 	113	  
			
	 Section 8.06
		 Restricted Payments
		 	114	  
			
	 Section 8.07
		 Limitation on Investments
		 	114	  
			
	 Section 8.08
		 Sanctions and Anti-Corruption
		 	115	  
			
	 Section 8.09
		 No Other Business; Leases
		 	115	  
			
	 Section 8.10
		 Portfolio Documents
		 	115	  
			
	 Section 8.11
		 Taxes
		 	116	  
			
	 Section 8.12
		 Expenditures; Collateral Accounts; Structural Changes
		 	116	  
			
	 Section 8.13
		 REC Contracts and Transfer Instructions
		 	117	  
			
	 Section 8.14
		 Speculative Transactions
		 	117	  
			
	 Section 8.15
		 Voting on Major Decisions
		 	118	  
			
	 Section 8.16
		 Transactions with Affiliates
		 	118	  
			
	 Section 8.17
		 Limitation on Restricted Payments
		 	118	  
		
	 ARTICLE IX SEPARATENESS
		 	118	  
			
	 Section 9.01
		 Separateness
		 	118	  
		
	 ARTICLE X CONDITIONS PRECEDENT
		 	120	  
			
	 Section 10.01
		 Conditions of Initial Borrowing
		 	120	  
			
	 Section 10.02
		 Conditions of Subsequent Term Loan Borrowings
		 	127	  
			
	 Section 10.03
		 Conditions of Working Capital Loans
		 	131	  
			
	 Section 10.04
		 Conditions of Letter of Credit Issuance
		 	131	  
		
	 ARTICLE XI EVENTS OF DEFAULT; REMEDIES
		 	132	  
			
	 Section 11.01
		 Events of Default
		 	132	  
			
	 Section 11.02
		 Acceleration and Remedies
		 	135	  
		
	 ARTICLE XII ADMINISTRATIVE AGENT
		 	136	  
			
	 Section 12.01
		 Appointment and Authority
		 	136	  
			
	 Section 12.02
		 Rights as a Lender
		 	137	  
			
	 Section 12.03
		 Exculpatory Provisions
		 	137	  
			
	 Section 12.04
		 Reliance by Administrative Agent
		 	138	  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			iv		

							
			
	 Section 12.05
		 Delegation of Duties
		 	138	  
			
	 Section 12.06
		 Resignation of Administrative Agent
		 	138	  
			
	 Section 12.07
		 Non-Reliance on Administrative Agent and Other Lenders
		 	139	  
			
	 Section 12.08
		 Administrative Agent May File Proofs of Claim
		 	139	  
			
	 Section 12.09
		 Appointment of Collateral Agent and Depositary Agent
		 	140	  
			
	 Section 12.10
		 Joint Lead Arrangers
		 	140	  
		
	 ARTICLE XIII MISCELLANEOUS
		 	141	  
			
	 Section 13.01
		 Waivers; Amendments
		 	141	  
			
	 Section 13.02
		 Notices; Copies of Notices and Other Information
		 	142	  
			
	 Section 13.03
		 No Waiver; Cumulative Remedies;
		 	144	  
			
	 Section 13.04
		 Effect of Headings and Table of Contents
		 	144	  
			
	 Section 13.05
		 Successors and Assigns
		 	144	  
			
	 Section 13.06
		 Severability
		 	149	  
			
	 Section 13.07
		 Benefits of Agreement
		 	149	  
			
	 Section 13.08
		 Governing Law
		 	149	  
			
	 Section 13.09
		 WAIVER OF JURY TRIAL
		 	151	  
			
	 Section 13.10
		 Counterparts; Integration; Effectiveness
		 	151	  
			
	 Section 13.11
		 Confidentiality
		 	151	  
			
	 Section 13.12
		 USA PATRIOT ACT
		 	153	  
			
	 Section 13.13
		 Corporate Obligation
		 	153	  
			
	 Section 13.14
		 Non-Recourse
		 	153	  
			
	 Section 13.15
		 Administrative Agent’s Duties and Obligations Limited
		 	153	  
			
	 Section 13.16
		 Entire Agreement
		 	154	  
			
	 Section 13.17
		 Right of Setoff
		 	154	  
			
	 Section 13.18
		 Interest Rate Limitation
		 	154	  
			
	 Section 13.19
		 Survival of Representations and Warranties
		 	154	  
			
	 Section 13.20
		 No Advisory or Fiduciary Responsibility
		 	154	  
			
	 Section 13.21
		 Electronic Execution of Assignments and Certain Other Documents
		 	155	  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			v		

 Execution Version 

CREDIT AGREEMENT, dated as of December 31, 2014 (this “Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC, a
Delaware limited liability company (the “Borrower”), the financial institutions as Lenders from time to time party hereto (each individually a “Lender” and, collectively, the “Lenders”), Investec
Bank PLC, as Administrative Agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the “Administrative Agent”) and KeyBank National Association, as Issuing Bank (in such capacity, and
together with its successors and permitted assigns, the “Issuing Bank”). 
 RECITALS 

WHEREAS, Sunrun Inc., a Delaware corporation (the “Sponsor”), owns 100% of the membership interests in Sunrun Aurora Holdco
2014, LLC (“Intermediate Holdco”); 
 WHEREAS, Intermediate Holdco owns 100% of the membership interests in Sunrun Aurora
Portfolio 2014-B, LLC (“Pledgor”); 
 WHEREAS, Pledgor owns 100% of the Borrower Membership Interests; 

WHEREAS, the Borrower owns 100% of the membership interests in each of (i) SunRun Solar Owner I, LLC, a California limited liability
company, SunRun Solar Owner II, LLC, a California limited liability company, SunRun Solar Owner III, LLC, a California limited liability company (together with SunRun Solar Owner I, LLC and SunRun Solar Owner II, LLC, the “Owner
Companies”), (ii) SunRun Solar Tenant I, LLC, a California limited liability company, SunRun Solar Tenant II, LLC, a California limited liability company, SunRun Solar Tenant III, LLC, a California limited liability company (together
with SunRun Solar Tenant I, LLC and SunRun Solar Tenant II, LLC, the “Tenant Companies”), and (iii) SunRun Solar Owner Holdco VIII, LLC, a Delaware limited liability company (“Holdco VIII”), Sunrun Solar
Owner Holdco XI, LLC, a California limited liability company (“Holdco XI”), Sunrun Solar Owner Holdco XII, LLC, a Delaware limited liability company (“Holdco XII”), Sunrun Solar Owner Holdco XVII, LLC, a
Delaware limited liability company (“Holdco XVII”), Sunrun Solar Owner Holdco XVIII, LLC, a Delaware limited liability company (“Holdco XVIII” and, together with Holdco VIII, Holdco XI, Holdco XII, Holdco XVII and
the Owner Companies and the Tenant Companies, collectively, the “Guarantors”). 
 WHEREAS, Holdco VIII owns 100% of the
class B membership interests in SunRun Solar Owner VIII, LLC, a Delaware limited liability company (“Owner VIII”); 

WHEREAS, Holdco XI owns 100% of the managing member interests of each of Sunrun Solar Owner XI, LLC (“Owner XI”) and
Sunrun Solar Tenant XI, LLC (“Tenant XI”); 
 WHEREAS, Holdco XII owns 100% of the class B membership interests in Sunrun
Solar Owner XII, LLC, a Delaware limited liability company (“Owner XII”); 
 WHEREAS, Holdco XVII owns 100% of the class B
membership interests in Sunrun Solar Owner XVII, LLC, a Delaware limited liability company (“Owner XVII”); 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 WHEREAS, Holdco XVIII owns 100% of the class B membership interests in Sunrun Solar Owner XVIII,
LLC, a Delaware limited liability company (“Owner XVIII” and collectively with Owner VIII, Owner XI, Tenant XI, Owner XII, Owner XVII and the Guarantors, the “Subsidiaries”); 

WHEREAS, each of the Subsidiaries (other than Holdco VIII, Holdco XI, Holdco XII, Holdco XVII and Holdco XVIII) owns or leases certain
residential photovoltaic systems that are the subject of a Customer Agreement, whereby the Customer thereunder either purchases Energy produced by the system or leases the system; and 

WHEREAS, the Borrower desires that the Term Lenders make one or more loans in an aggregate principal amount equal to the Term Loan Commitment,
and the other Lenders and Issuing Bank hereto provide the other financial accommodation contemplated herein, secured and supported by, among other things, the Cash Diversion Guaranty, a guaranty from each of the Guarantors, Customer Agreements and
all other assets of the Guarantors and Membership Interests of the Subsidiaries, as set forth herein and in the other Loan Documents 
 NOW,
THEREFORE, in consideration of the premises and the respective representations, warranties, covenants, agreements, and conditions hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Borrower, the Administrative Agent and the Lenders hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. Except as otherwise specified in this Agreement or as the context may otherwise require, the
following terms have the respective meanings set forth below for all purposes of this Agreement (including in the recitals hereto). 

“Acceptable Bank” means any bank, trust company or other financial institution which is organized or licensed under the
applicable Laws of the United States of America or Canada or any state, province or territory thereof which has a tangible net worth of at least five hundred million Dollars ($500,000,000) and has outstanding unguaranteed and unsecured long-term
indebtedness from at least two of the following Credit Ratings: “A-” or better by S&P, “A3” or better by Moody’s and “A-” or better by Fitch. 

“Acceptable DSR Letter of Credit” has the meaning given to it in the Depository Agreement. 

“Account Bank” shall mean [***]. 

“Account Control Agreement” shall mean (i) each blocked account control agreement, dated as of the Closing Date, among
the relevant Tenant Company, the Collateral Agent and [***] in substantially the form of part I of Exhibit E hereto and (ii) each blocked account control agreement, dated as of the Closing Date, among the relevant Tenant Company, the
Collateral Agent and [***] in substantially the form of part II of Exhibit E hereto. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			2		TLA CREDIT AGREEMENT

 “Accounting Consultant” shall mean [***] 

“Additional Expenses” shall mean indemnification payments to the Administrative Agent, the Lenders, the Depositary Agent, and
certain other persons related to the same as described under the Loan Documents. For the avoidance of doubt, Additional Expenses shall not include Service Fees or amounts payable to the Manager under the Management Agreement. 

“Administrative Agent” shall have the meaning given to it in the preamble hereto, and include any successor Administrative
Agents pursuant to Section 12.06. 
 “Administrative Agent DSCR Comments” has the meaning given to it in
Section 7.01(a)(v). 
 “Administrative Agent’s Office” shall mean the Administrative Agent’s address
and, as appropriate, account as set forth on Schedule IV, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders. 

“Administrative Questionnaire” shall mean an administrative questionnaire in the form furnished by the Administrative Agent.

 “Affiliate” shall mean, with respect to any specified Person, any other Person controlling or controlled by or under
common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person shall mean the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” shall have meanings correlative to the foregoing. For the avoidance of doubt, each of the
Relevant Parties shall be an Affiliate of the other Relevant Parties and the Sponsor. In no event shall (i) the Administrative Agent be considered an Affiliate of another Person solely because any Loan Document contemplates that it shall act at
the instruction of any such Person or such Person’s Affiliate, or (ii) any Tax Equity Member be considered an Affiliate of a Relevant Party. 

“Affiliated Lender” has the meaning given to it in Section 13.05(b)(vii). 

“Affiliate Transaction” has the meaning given to it in Section 8.16. 

“Agent” means, collectively, the Administrative Agent, the Collateral Agent and the Depositary Agent. 

“Agreement” shall have the meaning given to it in the preamble hereto. 

“Amortization Schedule” shall have the meaning given to it in Section 5.05(d). 

“Annual Tracking Model” has the meaning given to it in Section 7.01(c)(i). 

“Anti-Corruption Laws” shall have the meaning given to it in Section 6.21(c). 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			3		TLA CREDIT AGREEMENT

 “Anti-Money Laundering Laws” shall have the meaning given to it in
Section 6.21(b). 
 “Applicable Margin” shall mean from the Closing Date through (but excluding) the fourth
anniversary of the Closing Date, 2.75% per annum and, from and after fourth anniversary of the Closing Date, 3.00% per annum. 

“Approved Fund” shall mean any Person (other than a natural person) that is engaged in making, purchasing, holding or
investing in bank loans and similar extensions of credit in the ordinary course of its business and 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. 
 “Approved Manufacturer” shall mean: 

(a) with respect to each Project owned or leased by an Opco other than Owner XVII or Owner XVIII, the manufacturer of panels used in the
original installation of each Project owned by the relevant Opco; 
 (b) with respect to each Project purchased by Owner XVII or Owner
XVIII, each panel manufacturer listed as an “Approved Manufacturer” in the schedule to the applicable Master Purchase Agreement provided to the Administrative Agent; provided, that, solely with respect to Projects purchased after
the Closing Date, [***]; 
 (c) with respect to warranty replacements of panels of each Project, the original manufacturer of the panel(s)
being replaced; and 
 (d) with respect to non-warranty replacements of panels of each Project, any manufacturer on the Approved Vendor
List; provided, however, that up to 10% of such replaced panels may be manufactured by a manufacturer not on the Approved Vendor List. 

“Approved Vendor List” means a list of approved panel manufacturers approved by the Administrative Agent in consultation with
the Independent Engineer, which may be modified from time to time subject to the approval of the Administrative Agent in consultation with the Independent Engineer. 

“Assets” shall mean, with respect to any Person, all right, title and interest of such Person 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 and records, proprietary rights, intellectual property, Permits, rights under
or pursuant to all warranties, representations and guarantees, cash, accounts receivable, deposits and prepaid expenses. 

“Assignment and Assumption” shall mean an assignment and assumption entered into by a Lender and an assignee lender (with the
consent of any party whose consent is required by Section 13.05), and accepted by the Administrative Agent, in substantially the form of Exhibit B or any other form approved by the Administrative Agent. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			4		TLA CREDIT AGREEMENT

 “Authorized Officer” shall mean in relation to any Relevant Party or the Sponsor
(as applicable) (i) for so long as the Management Agreement is in full force and effect, any officer of the Manager who is authorized to act for the Manager in matters relating to the Borrower and the Subsidiaries and to be acted upon by the
Manager pursuant to the Management Agreement, and who is identified on the list of Authorized Officers delivered by the Borrower to the Administrative Agent on the Closing Date (as such list may be modified or supplemented from time to time
thereafter by delivery to the Administrative Agent of a duly executed Officer’s Certificate and an incumbency certificate of the Borrower) and (ii) any director, member or officer who is a natural Person authorized to act for or on behalf
of the applicable Relevant Party or Sponsor (as applicable) in matters relating to such Relevant Party or Sponsor (as applicable) and who is identified on the list of Authorized Officers delivered by such Relevant Party or Sponsor (as applicable) to
the Administrative Agent on the Closing Date (as such list may be modified or supplemented from time to time thereafter by delivery to the Administrative Agent of a duly executed Officer’s Certificate and an incumbency certificate of such
Relevant Party). 
 “Availability Period” shall mean the period beginning on the Closing Date and ending on June 30,
2016. 
 “Back-Up Servicer” shall mean [***], and its successors and assigns as Back-Up Servicer under each Back-Up
Servicing Agreement and Partnership Flip Back-Up Servicing Agreement. 
 “Back-Up Servicing Agreement” shall mean,
collectively, (i) the Wholly Owned Opco Back-Up Servicing Agreement (from and following the date that such agreement becomes effective) and (ii) the Inverted Lease Back-Up Servicing Agreement (from and following the date that such
agreement becomes effective). 
 “Bankruptcy Code” shall mean Title 11 of the United States Code, as amended from time to
time, and all rules and regulations promulgated thereunder. 
 “Base Case Model” shall mean the comprehensive long-term
financial model attached as Exhibit I to this Agreement, reflecting among other things (i) quarterly payment periods ending on each Payment Date and (ii) the Cash Available for Debt Service from the Eligible Projects and Debt
Service after giving effect to the transactions contemplated by the Transaction Documents and the making of the Loans, covering the period from the Closing Date until the Deemed Full Amortization Date. The Base Case Model shall be updated in
accordance with Section 10.02(c), in a form and substance reasonably satisfactory to the Administrative Agent and with such assumptions and formulae as the initial model except to the extent required to be updated for any change
affecting Cash Available for Debt Service. 
 “Blocked Person” means any Person that is: (i) listed on, or owned
or controlled by a person listed on, a Sanctions List, (ii) a government of a Sanctioned Country, (iii) an agency or instrumentality of, or an entity directly or indirectly owned or controlled by, a government of a Sanctioned Country,
(iv) resident or located in, operating from, or incorporated under the laws of, a Sanctioned Country or (v) to the Knowledge of the Borrower (acting with due care and inquiry), otherwise a target of Sanctions. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			5		TLA CREDIT AGREEMENT

 “Borrower” shall have the meaning given to it in the preamble. 

“Borrower Membership Interests” shall mean all of the outstanding limited liability company interests issued by the Borrower
(including all Economic Interests and Voting Rights). 
 “Borrowing Notice” shall mean a request for a Loan by the Borrower
substantially in the form of Exhibit A. 
 “Business Day” shall mean any day other than (i) a Saturday,
(ii) a Sunday, (iii) a legal holiday in London, the state of New York or California or the jurisdiction where the Administrative Agent’s Office is located or (iv) any day on which commercial banks and the U.S. Federal Reserve
Bank are authorized or required to be closed in any of the foregoing states. 
 “Calculation Date” shall mean each
March 31, June 30, September 30 and December 31 of each year falling after the date hereof. 

“Capital Stock” means: 

(a) in the case of a corporation, corporate stock; 

(b) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (c) in the case of a partnership or limited liability company, partnership interests
(whether general or limited) or membership interests; and 
 (d) any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the issuing Person including, all warrants, options or other rights to acquire any of the foregoing. 

“Cash Available for Debt Service” means, in respect of any period, the amount of Operating Revenues received during such
period less Operating Expenses paid during such period. 
 “Cash Collateralize” means, in respect of the Letter of Credit,
the deposit of immediately available funds into a cash collateral account maintained with (or on behalf of) the Collateral Agent on terms satisfactory to the Administrative Agent and Issuing Bank, in an amount equal to one hundred three percent
(103%) of the Stated Amount of such Letter of Credit. 
 “Cash Diversion Guaranty” shall mean the Cash Diversion
Guaranty executed by the Sponsor on the Closing Date in favor of the Collateral Agent for the benefit of the Secured Parties. 

“Cash Flows” has the meaning given to the term “Cash Flows” in the applicable Limited Liability Company Agreement
of a Partnership Flip Tax Equity Opco. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			6		TLA CREDIT AGREEMENT

 “Change of Control” shall occur if, after giving effect to the Distribution and
Contribution Transactions, the (a) the Sponsor ceases to indirectly beneficially own and control at least 51% of the Borrower Membership Interests; (b) the Borrower ceases to directly or indirectly beneficially own and control 100% of the
outstanding Owner Membership Interests, Tenant Membership Interests and Holdco Membership Interests, (c) Holdco VIII ceases to beneficially own and control 100% of the outstanding Owner VIII Membership Interests, (d) Holdco XI ceases to
beneficially own and control 100% of the outstanding Owner XI Membership Interests and Tenant XI Membership Interests, (e) Holdco XII ceases to beneficially own and control 100% of the outstanding Owner XII Membership Interests, (f) Holdco
XVII ceases to beneficially own and control 100% of the outstanding Owner XVII Membership Interests, (g) Holdco XVIII ceases to beneficially own and control 100% of the outstanding Owner XVIII Membership Interests or (h) the Pledgor ceases
to directly beneficially own and control 100% of the outstanding Borrower Membership Interests. 
 Notwithstanding the foregoing, any Change
of Control occurring solely as a result of the exercise of remedies by the Other Lenders (or the Other Collateral Agent on their behalf) under the Other Loan Documents, including in connection with a foreclosure (whether judicial or non-judicial)
on, or other sale of, all of the Capital Stock in the Pledgor, shall not be considered a “Change of Control” for purposes of this definition; provided that (i) exercise of such remedies is permitted under the Tax Equity
Documents (including pursuant to the [***] Consent), (ii) any transfer of the Capital Stock in the Pledgor is to the Other Collateral Agent, an Other Lender or a Lender Controlled Transferee (each, a “Foreclosure Transferee”)
and (iii) such transferee has contracted with a financially capable replacement Operator who has the Relevant Experience to the extent the Projects are not operated by a Person with the Relevant Experience. 

A “Change of Control” shall be deemed to occur (A) on any subsequent transfer of the Capital Stock in the Pledgor by a
Foreclosure Transferee to a third party or (B) if the Other Lenders, in the aggregate, shall otherwise fail to indirectly beneficially own and control at least 51% of the Borrower Membership Interests; provided, that no Change of Control
shall be deemed to have occurred pursuant to this paragraph if (i) such transfer is permitted under the Tax Equity Documents (including pursuant to a the [***] Consent) and (ii) the Person other than the Other Lenders maintaining such
interests in the Pledgor is a Qualified Owner. 
 “Change of Law” means the occurrence, after the date of this Agreement,
of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary,
(x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank
for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change of Law”, regardless of the date enacted, adopted or issued. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			7		TLA CREDIT AGREEMENT

 “Claims” shall have the meaning given to it in Section 7.12(a). 

“Class” has the meaning set forth in Section 1.04 of the Agreement. 

“Closing” shall mean the funding of the Term Loans on the Closing Date pursuant to Section 2.01. 

“Closing Date” shall mean the date on which all conditions precedent set forth in Section 10.01 have been
satisfied or waived in writing by the Administrative Agent (acting on the instructions of all Lenders and the Issuing Bank). 

“Closing Date Funds Flow Memorandum” has the meaning given to it in the Depository Agreement. 

“Code” shall mean the United States Internal Revenue Code of 1986, and the regulations promulgated thereto, all as amended or
as may be amended from time to time. 
 “Collateral” shall have the meaning given to the terms “Collateral”,
“Depository Collateral”, “Collateral Account” and “Pledged Collateral”, as applicable, in the Collateral Documents all of which collectively constitute the “Collateral”. 

“Collateral Accounts” shall have the meaning given to it in the Depository Agreement. 

“Collateral Agency Agreement” shall mean the Collateral Agency and Intercreditor Agreement dated as of the Closing Date,
among the Borrower, the Administrative Agent, the Collateral Agent and each other Secured Party party thereto from time to time. 

“Collateral Agent” shall mean OneWest Bank N.A., and its successors and assigns in such capacity. 

“Collateral Documents” shall mean, collectively, the Pledge Agreement, the Pledge and Security Agreement, the Cash Diversion
Guaranty, the Guaranty and Security Agreements, the Guaranty and Pledge Agreement, the Collateral Agency Agreement, the Depository Agreement, the Account Control Agreements, the [***] Consent, the Management Consent Agreement, each Tenant Company
Standing Instruction and each other collateral document, pledge agreement or standing instruction delivered to the Administrative Agent pursuant to Section 7.08 and Section 10.01(a), any other document or agreement that
creates or purports to create a Lien in favor of the Collateral Agent for the benefit of the Lender Parties and all UCC or other financing statements, instruments or perfection and other filings, recordings and registrations required to be filed or
made in respect of any of the foregoing. 
 “Collections” shall mean without duplication (i) with respect to the
Wholly Owned Opcos, the related (A) Rents and PBI Payments, including all scheduled payments and prepayments under any Customer Agreement or PBI Document, (B) pending assumption of a Customer Agreement relating to a Project, payments of
Rent relating to such Project by lenders with respect to, or subsequent owners of, the property where such Project has been installed, (C)

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			8		TLA CREDIT AGREEMENT

 
proceeds of the sale, assignment or other disposition of any Collateral, (D) insurance proceeds and proceeds of any warranty claims arising from manufacturer, installer and other warranties,
in each case, with respect to any Projects, (E) all recoveries including all amounts received in respect of litigation settlements and work-outs, (F) all purchase and lease prepayments received from a Customer with respect to any Project,
and (G) all other revenues, receipts and other payments to such Wholly Owned Opcos of every kind whether arising from their ownership, operation or management of the Projects, but excluding the Excluded Property, (ii) with respect to any
Holdco, all distributions with respect to the Managing Member Membership Interests, but excluding Excluded Property, (iii) amounts contributed or otherwise paid by Sponsor to Borrower (including under the Cash Diversion Guaranty) and
(iv) interest earned on amounts deposited in the Collateral Accounts during the relevant period. 
 “Collections
Account” shall have the meaning given to it in the Depository Agreement. 
 “Commitment” shall mean, as to each
Lender, the aggregate of such Lender’s Initial Term Loan Commitment, Delayed Draw Commitment, LC Commitment and Working Capital Loan Commitment. 

“Competitor” means a Person that is in the business of developing, owning, installing, constructing or operating solar
equipment and providing solar electricity from such solar equipment to residential customers located in jurisdictions where the Sponsor or any Subsidiary are then doing business, primarily through power purchase agreements, customer service or lease
agreements or capital loan products and not through direct sales of solar panels or any Affiliate of such a Person, but shall not include any back-up servicer (including [***]) or any Person engaged in the business of making passive ownership or tax
equity investments in such solar equipment and associated businesses so long as such Person has in place procedures to prevent the distribution of confidential information that is prohibited under this Agreement. 

“Confidential Information” shall have the meaning given to it in Section 13.11. 

“Consequential Losses” shall have the meaning given to it in Section 5.07(e). 

“Contribution Parties” means Intermediate Holdco, Pledgor, Sunrun Solar Owner Holdco XIII, Sunrun Holdco XIII, LLC, Sunrun
Solar Owner Holdco X, LLC, the Sponsor and the Borrower, provided, that, for the purposes of any representations, warranties, covenants or obligations that relate to any date that follows the Closing Date, this definition of
“Contribution Parties” shall be deemed not to include Sunrun Solar Owner Holdco XIII, Sunrun Holdco XIII, LLC or Sunrun Solar Owner Holdco X, LLC as such entities are contemplated to be and are expressly permitted hereunder to be dissolved
on any date following the consummation of Distribution and Contribution Transactions on the Closing Date. 
 “Credit
Rating” means, with respect to any Person, the rating by S&P, Moody’s, Fitch or any other rating agency agreed to by the Parties then assigned to such Person’s unsecured, senior long-term debt obligations (not supported by
third party credit enhancements) 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			9		TLA CREDIT AGREEMENT

 
or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such Person as an issuer rating by S&P, Moody’s, Fitch or any other
rating agency agreed by the Parties. 
 “Credit Requirements” means, with respect to any Person, that such Person has at
least one of the following Credit Ratings: (a) “Baa2” or higher from Moody’s or (b) “BBB” or higher from S&P. 

“Customer” shall mean a Person party to a Customer Agreement who leases, or agrees to purchase Energy produced by, a Project.

 “Customer Agreement” shall mean those power purchase agreements or customer lease agreements (together with all
ancillary agreements and documents related thereto, including any assignment agreement to a replacement Customer) with respect to a Project between an Opco, as owner or lessor, and a Customer, whereby the Customer agrees to purchase the Energy
produced by the related Project for a fixed fee per kWh, or agrees to lease the Project for monthly lease payments, as applicable, in each case for a specified term of years. 

“Customer Prepayment Event” means: 

(i) a Project experiences an Event of Loss and is not repaired, restored, replaced or rebuilt to substantially the same
condition as existed immediately prior to the Event of Loss within 120 days of such Event of Loss (an “Event of Loss Project”); 

(ii) the early termination of any Customer Agreement (including, but not limited to, as a result of the occurrence of a
default thereunder) without a replacement Customer Agreement being entered into in respect of such Project, regardless of whether or not any Relevant Party is entitled to or actually receives a termination payment from the Customer in connection
with such termination; 
 (iii) in respect of any Project [***] (a “Defaulted Project”); 

(iv) a Payment Facilitation Agreement is entered into; 

(v) the elective prepayment by the Customer of any future amounts due under a Customer Agreement; 

(vi) the purchase of any Project by a Customer in accordance with the terms of the applicable Customer Agreement; and 

(vii) an Ineligible Customer Reassignment. 

“Customer Prepayment Event Certificate” means a certificate from an Authorized Officer in the form attached to a Transfer
Date Certificate, containing (i) a comprehensive report of each Customer Prepayment Event occurring during the quarterly period ending on the 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			10		TLA CREDIT AGREEMENT

 
applicable Calculation Date and (ii) the Borrower’s good faith, detailed calculation of the Customer Prepayment Event Prepayment, together with such changes thereto as the
Administrative Agent may from time to time reasonably request for the purpose of monitoring the Borrower’s compliance with Section 5.03(b). 

“Customer Prepayment Event Prepayment” means, in respect of any Payment Date, the mandatory prepayment payable on such
applicable Payment Date in accordance with Section 5.03(b). 
 “Debt Service” means, for any period, the
aggregate amount of all principal, interest, payments in the nature of interest (including default interest and net payments under an Interest Rate Hedging Agreement), margin, letter of credit and guarantee fees, commitment fees, rent under finance
leases or any other recurrent analogous costs and damages (including gross-ups and increased cost payments) payable pursuant to any Loan Document. 

“Debt Service Coverage Ratio” means, for any calculation period, the ratio of 

(a) the Cash Available for Debt Service for such period; to 

(b) the Debt Service for such period (excluding mandatory prepayments in respect of the Loans payable during such period
pursuant to Section 5.03 of this Agreement). 
 “Debt Service Coverage Ratio Certificate” means a certificate
from an Authorized Officer in the form of Exhibit J, containing its good faith, detailed calculation of its Debt Service Coverage Ratio for the twelve-month period ending on the immediately preceding Calculation Date. 

“Debt Service Reserve Account” shall have the meaning given to it in the Depository Agreement. 

“Debt Sizing Parameters” shall mean the following criteria, in each case as demonstrated by the Base Case Model: 

(viii) [***]; and 

(ix) [***]. 

“Debt Termination Date” means the date on which the (a) the Commitments have expired or been terminated, (b) the
principal of and interest on each Loan and all fees payable hereunder shall have been paid indefeasibly paid in cash in full and all Letters of Credit shall have expired or terminated and all Drawing Payments shall have been reimbursed (unless the
outstanding amount of the LC Exposure related thereto has been Cash Collateralized) and (c) all other Obligations (other than any inchoate indemnification or expense reimbursement Obligations that expressly survive termination of the Agreement)
shall have indefeasibly paid in cash in full. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			11		TLA CREDIT AGREEMENT

 “Debtor Relief Laws” shall mean the Bankruptcy Code of the United States, and
all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions
from time to time in effect. 
 “Deemed Full Amortization Date” means December 31, [***]. 

“Default” shall mean any event, occurrence or circumstance that is, or with notice or the lapse of time or both would become,
an Event of Default. 
 “Default Rate” shall mean a rate of 2.00% per annum in excess of the rate otherwise applicable
to any Loan or other Obligation, which rate shall apply in accordance with Section 5.05(b). 
 “Defaulted
Project” has the meaning given to it in the definition of Customer Prepayment Event. 
 “Defaulting Lender” shall
mean a Lender that (i) has defaulted in its obligations to fund any Loan or otherwise failed to comply with its obligations under Section 2.01, Section 2.02, Section 2.03 or Section 2.04, unless
(x) such default or failure is no longer continuing or has been cured within ten (10) days after such default or failure or (y) such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result
of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, (ii) has
notified the Borrower and/or the Administrative Agent that it does not intend to comply with its obligations under Section 2.01, Section 2.02, Section 2.03 or Section 2.04 has made a public statement
to that effect unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent
shall be specifically identified in such writing) has not been satisfied or (iii) has, or has a direct or indirect parent company that, (x) has become the subject of a proceeding under any Debtor Relief Laws, or (y) had appointed for
it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any
other state or federal regulatory authority acting in such a capacity; provided that, for the avoidance of doubt, a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender
or any direct or indirect parent company thereof by a Governmental Authority. 
 “Delayed Draw Commitment” shall mean, as
to each Lender, its obligation to make a Term Loan to the Borrower pursuant to Section 2.02 in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule
2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement; provided, that the aggregate principal
amount of the Lenders’ Delayed Draw Commitments shall not exceed $48,520,000 unless all the Lenders have agreed to an Incremental Loan Commitment in accordance with Section 3.04. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			12		TLA CREDIT AGREEMENT

 “Delayed Draw Loan Commitment Fee” shall mean an amount equal to the product of
1.0% per annum and the average undrawn Delayed Draw Commitment (regardless of whether any conditions for drawing could then be met and determined as of the close of business on any date of determination), for each day from the Closing Date
through the expiration or earlier termination of the Availability Period. 
 “Delayed Draw Term Loan” shall mean an
extension of credit by a Lender to the Borrower under Section 2.02. 
 “Depository Agreement” shall mean the
Depository Agreement dated as of the Closing Date, among the Borrower, the Administrative Agent, the Collateral Agent and each the Depository Bank. 

“Depository Bank” shall mean OneWest Bank N.A., and its successors and assigns in such capacity in accordance with the
Depository Agreement. 
 “Distribution and Contribution Transactions” means the distribution and contribution transactions
contemplated under the Omnibus Distribution and Contribution Agreement such that the Holdco Membership Interests, Managing Member Membership Interests, Owner Membership Interests and Tenant Membership Interests are all under the ownership of the
Borrower. 
 “Distribution Trap” shall have the meaning given to it in the Depository Agreement. 

“Distribution Trap Account” shall have the meaning given to it in the Depository Agreement. 

“Dollars” shall mean U.S. dollars. 

“Drawing” shall mean a drawing on a Letter of Credit by the beneficiary thereof. 

“Drawing Payment” shall mean a payment in U.S. Dollars by the Issuing Bank of all or any part of the Stated Amount in
conjunction with a Drawing under any Letter of Credit. 
 “Early Amortization Period” has the meaning given to it in the
Depository Agreement. 
 “Economic Interest” means the direct or indirect ownership by one Person of Capital Stock in
another Person. A Person who directly holds all of the Capital Stock of another Person is understood to hold an Economic Interest of one hundred percent (100%) in such other Person. For purposes of determining the Economic Interest of one
Person in another Person where there are one or more other Persons in the chain of ownership, the Economic Interest of the first Person in the second Person shall be deemed proportionately diluted by Economic

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			13		TLA CREDIT AGREEMENT

 
Interests of less than one hundred percent (100%) held by such other Persons in the chain of ownership. For example, if Company A owns eighty percent (80%) of the Capital Stock of
Company B, which in turn owns eighty percent (80%) of the partnership interests in Partnership C, which in turn owns fifty percent (50%) of the Capital Stock in Company D, then Company A would have an Economic Interest in Company D of
thirty-two percent (32%). 
 “Eligible Assignee” shall mean any Person that is a commercial bank, insurance company,
investment or mutual fund or other Person that is an “accredited investor” (as defined in Regulation D of the Securities Act of 1933, as amended) or otherwise has a tangible net worth not less than five hundred million Dollars
($500,000,000). 
 “Eligible Customer Agreement” shall mean a Customer Agreement in the form of one of the agreements
attached hereto as Exhibit G or such other form of agreement as approved by the Administrative Agent (acting on the instructions of the Required Lenders) in writing, which forms may be modified in a manner permitted under the Tax Equity Documents to
(i) comply with Law or to qualify for an applicable solar incentive program (provided such changes do not reallocate risk to the Opco, Holdco or any of its Affiliates and otherwise could not reasonably be expected to have a Material Adverse
Effect or a material adverse effect on compliance by any Opco with consumer leasing and protection Law), (ii) incorporate nonsubstantive or immaterial changes reasonably agreed with a Customer or (iii) incorporate such changes as approved
by the Administrative Agent acting on the instructions of the Required Lenders). 
 “Eligible Project” means a Project
which is owned or leased by a Opco, which (i) has been Placed in Service, (ii) is not the subject of any Customer Prepayment Event described in clauses (i), (ii), (iii), (vi) and (vii) of the definition thereof, and
(iii) met the qualification requirement for the purchase of the Projects as of the time of sale to the applicable Opco pursuant to the applicable Master Purchase Agreement (except to the extent of any departure in accordance with Prudent
Industry Practices for which a waiver was given by the applicable Tax Equity Member and where the applicable impact thereof has been incorporated into the Base Case Model in a manner reasonably acceptable to the Administrative Agent). 

“Employee Benefit Plan” shall mean any employee pension benefit plan within the meaning of Section 3(2) of ERISA
(excluding any Multiemployer Plan) which is subject to Title IV of ERISA or to section 412 of the Code. 
 “Energy” shall
mean physical electric energy, expressed in megawatt hours (“MWh”) or kilowatt hours (“kWh”), of the character that passes through transformers and transmission wires, where it eventually becomes alternating current
electric energy delivered at nominal voltage. 
 “Environmental Laws” shall mean all present and future statutes,
ordinances, codes, orders, decrees, Laws, rules or regulations of any Governmental Authority pertaining to or imposing liability or standards of conduct concerning environmental protection (including, without limitation, regulations concerning
health and safety to the extent relating to human exposure to Hazardous Materials), contamination or clean-up or the use, handling, generation, 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			14		TLA CREDIT AGREEMENT

 
release, discharge, disposal or storage of Hazardous Material affecting the Projects, including, without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of
1980, as amended, the Resource Conservation and Recovery Act, as amended, the Emergency Planning and Community Right-to-Know Act of 1986, as amended, the Hazardous Substances Transportation Act, as amended, the Solid Waste Disposal Act, as amended,
the Clean Water Act, as amended, the Clean Air Act, as amended, the Toxic Substances Control Act, as amended, the Safe Drinking Water Act, as amended, the Occupational Safety and Health Act, as amended (to the extent relating to human exposure to
Hazardous Materials), any state superlien and environmental clean-up statutes and all regulations adopted in respect of the foregoing Laws whether now or hereafter in effect. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended or as may be amended from time to time.

 “ERISA Affiliate” shall mean, in relation to any Person, any other Person under common control with the first Person,
within the meaning of Section 4001(a)(14) of ERISA. 
 “Event of Default” shall have the meaning given to it in
Section 11.01. 
 “Event of Loss” means (a) an event which causes all or a portion of an Asset of a
Relevant Party to be damaged, destroyed or rendered unfit for normal use for any reason whatsoever (including any covered loss under a casualty insurance policy) and (b) any compulsory transfer or taking, or transfer under threat of compulsory
transfer, of any Asset of a Relevant Party pursuant to the power of eminent domain, condemnation or otherwise. 
 “Event of Loss
Project” has the meaning given to it in the definition of Customer Prepayment Event. 
 “Excluded Property” shall
mean: 
 (i) all prepayment amounts due by Customers under any prepaid Customer Agreement to the extent paid at commencement of construction
of the applicable Projects, inclusive of deposits paid at the signing of any Customer Agreement; 
 (ii) all cash proceeds from any upfront
solar energy incentive programs, including proceeds pursuant to the California Solar Initiative (which are not subject to state income tax), or any other state or local solar power incentive program which provides incentives that are substantially
similar to those provided under the California Solar Initiative (and which are similarly not subject to state income tax); 
 (iii) all cash
proceeds from any state income tax credit, including proceeds pursuant to the refundable Hawaii Energy Tax Credits; 
 (iv) all RECs sold
pursuant to an Excluded REC Contract and the proceeds of any Excluded REC Sales. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			15		TLA CREDIT AGREEMENT

 “Excluded REC Contract” means any REC Contract (including any spot sale of RECs)
entered into by a Tax Equity Opco or an Owner Company with a REC Purchaser for the sale of RECs; provided that (i) the RECs sold under such Excluded REC Contract shall be limited to the RECs actually produced by the Projects owned by such
Subsidiary and shall not include any RECs contracted to be sold under any other REC Contract, (ii) the RECs sold under such Excluded REC Contract shall be subject to an irrevocable forward transfer (or other equivalent transfer) in favor of the
REC Purchaser, (iii) such Excluded REC Contract shall not include any liquidated damages provisions or provisions for the posting of collateral or other security, (iv) the recourse of the applicable REC Purchaser to such Subsidiary shall
be expressly limited to the RECs sold under such Excluded REC Contract and the proceeds thereof, (v) any Excluded REC Contract entered into after the date of this Agreement shall include a covenant from the REC Purchaser not to petition for the
bankruptcy of the applicable Subsidiary and (vi) other than in respect of any spot sale of RECs entered into in the ordinary course of business, no Default or Event of Default has occurred and is continuing at the time such Excluded REC
Contract is entered into. 
 “Excluded REC Sales” shall mean any sale, transfer or other disposition of RECs pursuant to
any Excluded REC Contract. 
 “Excluded Taxes” shall mean any of the following Taxes imposed on or with respect to any
Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such
Recipient being organized under the Laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other
Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date
after the Closing Date on which (i) such Lender acquires such interest in the Loan or Commitment or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 5.09(a)(ii) or
5.09(e), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes
attributable to such Recipient’s failure to comply with Section 5.09(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA. 

“Executive Officer” shall mean, with respect to any corporation or limited liability company, the Chief Executive Officer,
Chief Operating Officer, Chief Financial Officer, Secretary or Treasurer of such corporation or limited liability company and, with respect to any partnership, any individual general partner thereof or, with respect to any other general partner, any
executive officer of the general partner. 
 “Exempt Customer Agreements” shall mean (i) any Customer Agreement which
has unpaid Rents that are 120 days or more past due, (ii) any Customer Agreement where (A) the Customer’s interest in the underlying host property for the applicable Project has been sold or otherwise transferred without either the
Customer purchasing the Project or the new owner assuming such Customer Agreement and (B) the applicable Operator reasonably determines that 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			16		TLA CREDIT AGREEMENT

 
the current Customer will not make any purchase payment due under the Customer Agreement and the new owner will refuse to assume such Customer Agreement but for a Payment Facilitation Agreement
in respect thereof, (iii) any Customer Agreement subject to a dispute between the Borrower and the Customer which, in light of the facts and circumstances known at the time of such dispute, the Operator reasonably determines the Customer under
such Customer Agreement could reasonably be expected to stop making Rent payments due under the Customer Agreement but for a Payment Facilitation Agreement, or (iv) any Customer Agreement which has a Customer that has become eligible for and is
receiving an income-qualified discount on his or her electricity rate from the applicable local utility. 
 “Existing Backleverage
Facilities” shall mean the credit facilities pursuant to (a) that certain Credit Agreement, dated as of June 7, 2013, by and between Sunrun Solar Owner Holdco X, LLC, Ares Capital Corporation and the financial institutions as
lenders from time to time party thereto, as amended by that certain Amendment to Credit Agreement thereto, dated as of October 30, 2013, and (b) that certain Credit Agreement, dated as of November 27, 2013, by and between Sunrun Solar
Owner Holdco XIII, LLC, Ares Capital Corporation and the financial institutions as lenders from time to time party thereto. 

“Expiration Date” shall mean, with respect to any Letter of Credit, the date of the expiration set forth therein. 

“Facility” means each of (a) the Term Commitments and the Term Loans made hereunder (the “Term
Facility”), (b) the Working Capital Loan Commitments and the Working Capital Loans made hereunder (the “Working Capital Facility”) and (c) the LC Commitments and the LC Exposure hereunder (the “LC
Facility”). 
 “FATCA” shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any
amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code. 
 “Federal Funds Rate” shall mean, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding
such day; provided that if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day. 

“Fee Letter” shall mean, collectively, each fee letter between the Borrower and a Lender Party and the fee letter between the
Sponsor, Investec Bank plc and Investec USA Holdings Corp. dated as of September 22, 2014. 
 “FERC” shall mean the
Federal Energy Regulatory Commission, and any successor authority. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			17		TLA CREDIT AGREEMENT

 “FICO® Score” means in respect of any Customer, a credit score obtained from
(a) Experian Information Solutions, Inc., (b) Transunion, LLC or (c) Equifax Inc., in each case, as the context requires. 

“Financial Statements” shall mean in relationship to any Person, its consolidated statements of operations and members’
equity, statements of cash flow and balance sheets. 
 [***] 

“Fitch” shall mean Fitch, Inc. 

“Flip Point” has the meaning given to the term “Flip Point” in the applicable Limited Liability Company Agreement
of a Partnership Flip Tax Equity Opco. 
 “Flip Point Deficit” means, as of any Calculation Date in respect of a Tracking
Model for the applicable Partnership Flip Tax Equity Opco, if such Tracking Model (taking all prior and projected Cash Flows into account) reflects that the Flip Point will not occur by the Target Flip Date, the amount by which the: 

(i) cash (taking into account all other projected Cash Flows) that the Tracking Model demonstrates is required to be distributed by the
Partnership Flip Tax Equity Opco to a Tax Equity Member for the Flip Point to occur by no later than the Target Flip Date, is in excess of  

(ii) cash (taking into account all other projected Cash Flows) that is actually projected under the Tracking Model to be distributed by the
Partnership Flip Tax Equity Opco to such Tax Equity Member between the Calculation Date and the Target Flip Date. 
 “Flip Reserve
Account” has the meaning given to it in the Depository Agreement. 
 “Foreign Lender” shall mean a Lender that is
not a U.S. Person. 
 “FPA” shall mean the Federal Power Act, as amended, and FERC’s regulations thereunder. 

“Funding Account” has the meaning given to it in the Depository Agreement. 

“GAAP” shall mean United States Generally Accepted Accounting Principles. 

“General Account” shall mean one or more deposit accounts that is segregated from each other account of Operator and held by
an Operator with an Acceptable Bank: 
 (i) which are under the exclusive dominion and control of the Sponsor, Manager or an Operator,
subject to such Operator’s agreement (A) to segregate the amounts in each such account from its own funds as trustee for the beneficiaries of the funds deposited therein and (B) not to grant a Lien over such account or the amounts
deposited therein; 
 (ii) which are not subject to any Lien of a third party; and 

(iii) into which Customers have made payment of non-recurring ACH and credit card payments. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			18		TLA CREDIT AGREEMENT

 “Governmental Authority” shall mean with respect to any Person, any federal or
state or local government or other political subdivision thereof or any entity, including any regulatory or administrative authority or court, exercising executive, legislative, judicial, regulatory or administrative or quasi-administrative
functions of or pertaining to government. 
 “Grant” means a cash grant under section 1603 of the American Recovery and
Reinvestment Act of 2009, as amended. 
 “Guarantors” shall have the meaning set forth in the recitals. 

“Guaranty and Pledge Agreement” shall mean the Guaranty and Pledge Agreement executed by each of the Holdcos on the Closing
Date in favor of the Administrative Agent for the benefit of the Lenders. 
 “Guaranty and Security Agreement” shall mean
the Guaranty and Security Agreement dated as of the Closing Date executed by each Wholly Owned Opco in favor of the Administrative Agent for the benefit of the Lenders. 

“Hazardous Material” shall mean all or any of the following: (i) substances, materials, compounds, wastes, products,
emissions and vapors that are defined or listed in, regulated by, or otherwise classified pursuant to, or for which liability could be imposed under, any applicable Environmental Laws, including any so defined, listed, regulated or classified as
“hazardous substances”, “hazardous materials”, “hazardous wastes”, “toxic substances”, “pollutants”, “contaminants”, or any other formulation intended to regulate, define, list or classify
substances by reason of deleterious, harmful or dangerous properties; (ii) waste oil, oil, petroleum or petroleum derived substances, natural gas, natural gas liquids or synthetic gas and drilling fluids, produced waters and other wastes
associated with the exploration, development or production of crude oil, natural gas or geothermal resources; (iii) any flammable substances or explosives or any radioactive materials; (iv) asbestos or asbestos-containing materials in any
form; (v) electrical or hydraulic equipment which contains any oil or dielectric fluid containing polychlorinated biphenyls; (vi) radon; (vii) toxic mold; or (viii) urea formaldehyde, provided, however, such
definition shall not include cleaning materials and other substances commonly used in the ordinary course of the business of the Borrower, its Subsidiaries, or any of their respective Administrative Agents, which materials exist in reasonable
quantities and are stored, contained, transported, used, released, and disposed of in accordance with all applicable Environmental Laws. 

“Holdco Membership Interests” shall mean the Holdco VIII Membership Interests, the Holdco XI Membership Interests, the Holdco
XII Membership Interests, the Holdco XVII Membership Interests and the Holdco XVIII Membership Interests. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			19		TLA CREDIT AGREEMENT

 “Holdcos” shall mean each of Holdco VIII, Holdco XI, Holdco XII, Holdco XVII and
Holdco XVIII. 
 “Holdco VIII” has the meaning given to it in the Recitals. 

“Holdco VIII Membership Interests” shall mean all of the outstanding limited liability company interests issued by
Holdco VIII (including all Economic Interests and Voting Rights). 
 “Holdco XI” has the meaning given to it in the
Recitals. 
 “Holdco XI Membership Interests” shall mean all of the outstanding limited liability company interests issued
by Holdco XI (including all Economic Interests and Voting Rights). 
 “Holdco XII” has the meaning given to it in the
Recitals. 
 “Holdco XII Membership Interests” shall mean all of the outstanding limited liability company interests issued
by Holdco XII (including all Economic Interests and Voting Rights). 
 “Holdco XVII” has the meaning given to it in
the Recitals. 
 “Holdco XVII Membership Interests” shall mean all of the outstanding limited liability company interests
issued by Holdco XVII (including all Economic Interests and Voting Rights). 
 “Holdco XVIII” has the meaning given to
it in the Recitals. 
 “Holdco XVIII Membership Interests” shall mean all of the outstanding limited liability company
interests issued by Holdco XVIII (including all Economic Interests and Voting Rights). 
 “IG Investigation” means the
investigation being conducted by the Inspector General of the US Department of the Treasury and the Department of Justice in respect of the valuation of solar power systems submitted for a Grant by the Sponsor or its Affiliates, in connection with
which the Sponsor received a subpoena in July of 2012. 
 “Incremental Loan Amendment Documentation” shall have the meaning
given to it in Section 3.02. 
 “Incremental Loan Commitment” shall have the meaning given to it in
Section 3.01. 
 “Incremental Loan Commitment Increase Notice” shall have the meaning given to it in
Section 3.01. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			20		TLA CREDIT AGREEMENT

 “Incremental Loan Expression of Interest” shall have the meaning given to it in
Section 3.02. 
 “Incremental Loan Increase Date” shall have the meaning given to it in
Section 3.01. 
 “Indebtedness” shall mean, for any Person, without duplication: (i) all indebtedness of
such Person for borrowed money, for amounts drawn under a letter of credit, or for the deferred purchase price of property for which such Person or its assets is liable, (ii) all unfunded amounts under a loan agreement, letter of credit, surety
bond or other similar instrument (unless secured in full by cash), or other credit facility for which such Person would be liable if such amounts were advanced thereunder, (iii) all amounts required to be paid by such Person as a guaranteed
payment to partners or a preferred or special dividend, including any mandatory redemption of shares or interests and any other payment required to be made in respect of any equity interests in any Person or rights or options to acquire any equity
interests in any Person, but excluding any distributions required to be made (A) in respect of the outstanding class A membership interests issued by the Tax Equity Opcos or (B) to Borrower or any Subsidiary in respect of the outstanding
Managing Member Membership Interests, Owner Membership Interests, Tenant Membership Interests or Holdco Membership Interests, (iv) all obligations (including all amounts to be capitalized) under leases that constitute capital leases for which
such Person is liable, (v) all obligations of such Person under interest rate swaps, caps, floors, collars and other interest hedge agreements, in each case whether such Person is liable contingently or otherwise, as borrower, guarantor or
otherwise, or in respect of which obligations such Person otherwise assures a creditor against loss, (vi) all obligations of such Person under conditional sale or other title retention agreements relating to property or assets acquired by such
Person (even though the rights of the seller or lender thereunder may be limited in recourse), and (vi) all guarantees of such Person in respect of any of the foregoing. The Indebtedness of a Person shall include the Indebtedness of any
partnership in which such Person is a general partner, other than to the extent that the instrument or agreement evidencing such Indebtedness expressly limits the liability of such Person in respect thereof. 

“Indemnified Amounts” shall have the meaning given to it in Section 5.08(a). 

“Indemnified Taxes” shall mean (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by
or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitee” shall have the meaning given to it in Section 5.08(a). 

“Independent” shall mean, when used with respect to any specified Person, that such Person (a) is in fact independent of
each of the Relevant Parties and any Affiliate thereof, (b) does not have any direct financial interest or any material indirect financial interest in any of the Relevant Parties or any Affiliate thereof and (c) is not connected with any
of the Relevant Parties or any Affiliate thereof as an officer, employee, member, manager, contractor, promoter, underwriter, trustee, partner, director or person performing similar functions. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			21		TLA CREDIT AGREEMENT

 “Independent Engineer” shall mean [***]. 

“Ineligible Customer Reassignment” means a Customer Agreement has been assigned to a new Customer [***]. 

“Information” shall have the meaning given to it in Section 6.26(a). 

“Initial Term Loan” shall mean an extension of credit by a Lender to the Borrower under Section 2.01. 

“Initial Term Loan Commitment” shall mean, as to each Lender, its obligation to make a Term Loan to the Borrower on the
Closing Date pursuant to Section 2.01 in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01; provided, that the aggregate principal
amount of the Lenders’ Initial Term Loan Commitments (which, for the avoidance of doubt, is exclusive of the Delayed Draw Commitments) shall not exceed $109,980,000. 

“Insurance Consultant” shall mean [***]. 

“Insurance Policies” shall have the meaning given to it in Section 7.13(a). 

“Interest Period” shall mean, for each Payment Date, the period from and including the preceding Payment Date (or, with
respect to the initial such period, the Closing Date) to but excluding such Payment Date. 
 “Interest Rate Determination
Date” shall mean the second LIBOR Business Day preceding the first day of each Interest Period. 
 “Interest Rate Hedging
Agreement” shall mean any Swap Agreement entered into by the Borrower in the ordinary course of business and not for speculative purposes in order to effectively cap, collar or exchange interest rates (from floating to fixed rates) with
respect to any interest-bearing liability or investment of the Borrower. 
 “Intermediate Holdco” has the meaning given to
it in the Recitals. 
 “Inverted Lease Back-Up Servicing Agreement” shall mean the Back-Up Servicing Agreement, to be
entered into in form and substance reasonable satisfactory to the Administrative Agent, between the Operator under the Operation and Maintenance Agreement dated as of June 13, 2013, by and between Tenant XI and Operator, the Borrower, the
Collateral Agent, the Other Collateral Agent and the Back-Up Servicer and each replacement for such agreement in a form and substance acceptable to the Administrative Agent entered into with a replacement back-up servicer in accordance with the
terms and conditions hereof and the Inverted Lease Back-Up Servicing Agreement (from and following the date that such agreement becomes effective). 

“Inverted Lease O&M Agreement” shall mean the Operation and Maintenance Agreement dated as of June 13, 2013, by and
between Tenant XI and Operator each replacement 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			22		TLA CREDIT AGREEMENT

 
for such agreement in a form and substance acceptable to the Administrative Agent entered into with an Operator in accordance with the terms and conditions hereof, the Inverted Lease Back-Up
Servicing Agreement (from and following the date that such agreement becomes effective) and the other Tax Equity Documents. 

“Inverted Lease Tax Equity Opco” shall mean, collectively, Tenant XI and Owner XI. 

“Inverter Review Information” has the meaning given to it in Section 7.01(f). 

“Investment Company Act” shall mean the United States Investment Company Act of 1940, as amended or as may be amended from
time to time. 
 “Involuntary Bankruptcy” shall mean any involuntary case under the Bankruptcy Code or any applicable
bankruptcy, insolvency or other similar Law now or hereafter in effect, in which Sponsor or any Relevant Party is a debtor or any Assets of any such entity is property of the estate therein. 

“IRS Audit” means the audit being conducted by the Internal Revenue Service as of the Closing Date in respect of tax returns
submitted by Sponsor and/or affiliated Persons. 
 “Issuing Bank” shall mean (a) KeyBank National Association and
(b) each other LC Lender as the Borrower may from time to time select as an Issuing Bank hereunder (provided that such LC Lender meets the Credit Requirements, shall be reasonably acceptable to the Administrative Agent and has agreed to
be an Issuing Bank hereunder in a writing satisfactory to the Administrative Agent), each in its capacity as an issuer of Letters of Credit hereunder, in either case together with its permitted successors and assigns in such capacity;
provided, that there shall be no more than one Issuing Bank at any time. 
 “ITC” means the 30% investment tax
credit under section 48 of the Code. 
 “Joint Lead Arrangers” means Investec Bank plc as sole bookrunner and joint lead
arranger with respect to the Commitments, KeyBank National Association as syndication agent and joint lead arranger with respect to the Commitments, Royal Bank of Canada as documentation agent and joint lead arranger with respect to the Commitments
and SunTrust Robinson Humphrey, Inc. as documentation agent and joint lead arranger with respect to the Commitments. 
 “[***]
Amendment I” means an amendment to be entered into in respect of the Limited Liability Company Agreement of Owner VIII by and between Holdco VIII and [***], a Delaware corporation, in substantially the form attached as Exhibit F
with modifications (other than in respect of the applicable Tax Equity Opco and Holdco and the [***] Class B Member Note). 

“[***] Amendment II” means an amendment to be entered into in respect of the Limited Liability Company Agreement of
Owner XVIII by and between Holdco XVIII and [***], a Delaware corporation, in substantially the form attached as Exhibit F. 

“[***] Class B Member Note” means the “Class B Member Note” under and as defined in the Limited Liability
Company Agreement of Owner XVIII. 
 “Knowledge” whenever used in this Agreement or any of the Loan Documents, or in
any document or certificate executed pursuant to this Agreement or any of the Loan Documents, (whether by use of the words “knowledge” or “known”, or other words of similar 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			23		TLA CREDIT AGREEMENT

 
meaning, and whether or not the same are capitalized), shall mean, with respect to the Sponsor or any Relevant Party: (i) actual knowledge (which shall be deemed to include knowledge that
would have been discovered after reasonable inquiry) of the Chief Executive Officer, Chief Financial Officer, and General Counsel of the Sponsor or any Authorized Officer of a Relevant Party, and (ii) actual knowledge (which shall be deemed to
include knowledge that would have been discovered after reasonable inquiry) of those officers, employees or other persons of the Manager responsible for the day-to-day administration of the Projects or charged with effecting the duties on behalf of
the Manager set forth in the Management Agreement, and the individuals who have responsibility for any policy making, major decisions or financial affairs, or primary management or supervisory responsibilities, of the Sponsor or any Relevant Party.
The Borrower shall cause each Subsidiary and the Manager to promptly notify it of any event or circumstance that would require the Borrower to provide notice to a Lender Party under the Loan Documents upon Knowledge of the Borrower. Any notice
delivered to the Sponsor or any Relevant Party (including to the Manager as their agent) by a Secured Party shall provide such Person with Knowledge of the facts included therein. 

“Laws” shall mean, collectively, all international, foreign, Federal, state and local statutes, common law, treaties, rules,
guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration
thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

“LC Application”: means an application and agreement for the issuance or amendment of a Letter of Credit in the form from
time to time in use by the applicable Issuing Bank, together with a Notice of LC Activity. 
 “LC Availability Period”
shall mean the period from the Closing Date to 30 days prior to the Maturity Date. 
 “LC Commitment” shall mean, as to
each LC Lender, its obligation to make a LC Loan to the Borrower pursuant to Section 2.04 in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule
2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement; provided, that the aggregate principal
amount of the LC Lenders’ LC Commitments shall not exceed $7,900,000. 
 “LC Documents” means, as to any Letter of
Credit, each LC Application and any other document, agreement and instrument entered into by the applicable Issuing Bank and the Borrower or in favor of such Issuing Bank and relating to such Letter of Credit. 

“LC Exposure” shall mean, with respect to any LC Lender as of the date of determination, the sum of the aggregate amount of
all participations by that Lender in (a) the Stated Amount of all Letters of Credit issued and outstanding at such time that have not been 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			24		TLA CREDIT AGREEMENT

 
Cash Collateralized, plus (b) the aggregate amount of all unreimbursed Drawing Payments made in respect of Letters of Credit at such time, plus (c) the aggregate
outstanding principal amount of all LC Loans at such time. 
 “LC Facility” has the meaning given in the definition of
“Facility”. 
 “LC Lender” shall mean a Lender with a LC Commitment, which as of the Closing Date is as set forth
on Schedule 2.01. 
 “LC Loan” has the meaning set forth in Section 2.04(c)(ii) of the Agreement.

 “Lender” shall have the meaning given to it in the preamble and shall include any Term Lender, LC Lender and Working
Capital Lender (other than any Person that has ceased to be a party hereto pursuant to an Assignment and Assumption) and any other Person that shall have become a party hereto as a Lender pursuant to an Assignment and Assumption. 

“Lender Controlled Transferee” means a Person who is transferred the Capital Stock in the Pledgor and is wholly owned, either
directly or indirectly, by the Other Lenders or an agent on their behalf. 
 “Lender Parties” shall mean the Administrative
Agent, each Lender and the Issuing Bank. 
 “Lending Office” shall mean, with respect to each Lender, such Lender’s
address and, as appropriate, account on file with the Administrative Agent, or such other address or account as such Lender may from time to time notify to the Administrative Agent. 

“Letter of Credit” shall mean a standby letter of credit substantially in the form of Exhibit C-1 governed by the
laws of the State of New York and issued by the Issuing Bank under the total aggregate LC Commitment pursuant to Section 2.04(a)(i). 

“LIBOR” shall mean with respect to each Interest Rate Determination Date, the rate for United States dollar deposits,
rounded, if necessary, to the nearest 0.00001%, appearing on the Bloomberg Screen US0001M Index Page as the London interbank offered rate for three-month United States dollar deposits at approximately 11:00 a.m., London time, on such Interest Rate
Determination Date. If, on any Interest Rate Determination Date, such rate does not appear on the Bloomberg Screen US00001M Index Page, LIBOR shall be the arithmetic mean of the offered quotations of the Reference Banks to prime banks in the London
interbank market for three-month United States dollar deposits in Europe by reference to requests for quotations to the Reference Banks as of approximately 11:00 a.m. (London time) on the Interest Rate Determination Date. If, on any Interest Rate
Determination Date, at least two of the Reference Banks provide such quotations, LIBOR shall equal such arithmetic mean of such quotations. The Administrative Agent shall determine LIBOR on each Interest Rate Determination Date and the determination
of LIBOR by the Administrative Agent shall be binding absent manifest error. “Reference Banks” shall mean leading banks engaged in transactions in Eurodollar deposits in the international Eurocurrency market (i) with an
established place of business in London, and 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			25		TLA CREDIT AGREEMENT

 
(ii) which have been designated as such by the Administrative Agent and are able and willing to provide such quotations to the Administrative Agent for each Interest Rate Determination Date; and
“Bloomberg Screen US0001M Index Page” shall mean the display designated as page US0001M Index Page on the Bloomberg Financial Markets Commodities News (or such other pages as may replace such page on that service for the purpose of
displaying LIBOR quotations of major banks). Notwithstanding the foregoing in no circumstance shall LIBOR be less than 0.00% per annum. 

“LIBOR Business Day” shall mean any day on which commercial banks are open in New York, New York and London, England for
international business (including dealings in United States dollar deposits). 
 “Lien” shall mean, with respect to any
property or assets, any lien, hypothecation, encumbrance, assignment for security, charge, mortgage, pledge, security interest, conditional sale or other title retention agreement or similar lien. 

“Limited Liability Company Agreement” shall mean the respective limited liability company agreement or operating agreement of
each Tax Equity Opco. 
 “Loan Documents” shall mean, collectively, this Agreement, the Notes, if any, each Fee Letter, the
Collateral Documents, the Secured Interest Rate Hedging Agreements, each Back-Up Servicing Agreement, the Omnibus Distribution and Contribution Agreement and all other documents, agreements or instruments executed in connection with the Obligations.
For the avoidance of doubt, the term “Loan Documents” shall not include the Portfolio Documents. 
 “Loan
Parties” shall mean the Borrower, Pledgor and each Guarantor. 
 “Loans” shall mean the Term Loans, Working
Capital Loans and the LC Loans. 
 “Loss Proceeds” means all amounts and proceeds (including instruments) from an Event of
Loss received by the Loan Parties, including, without limitation, insurance proceeds or other amounts actually received, except proceeds of business interruption insurance. 

[***] 
 “Major
Decision” means, as to each Tax Equity Opco, any of the decisions contemplated to be made in any of the Limited Liability Company Agreements which require a vote by or the consent or approval of all or a supermajority or majority of the
members or the Tax Equity Members of the applicable Tax Equity Opco. 
 “Management Agreement” shall mean the Management
Agreement between the Manager and the Borrower dated as of the Closing Date and each renewal or replacement for such agreement in a form and substance acceptable to the Administrative Agent entered into with a Manager in accordance with the terms
and conditions hereof and the Wholly Owned Back-Up Servicing Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			26		TLA CREDIT AGREEMENT

 “Management Consent Agreement” means the Management Consent and Agreement dated
as of the Closing Date by and among the Manager, the Borrower and the Collateral Agent. 
 “Manager” shall mean Sponsor or
a replacement manager as may hereafter be charged with management of the Borrower and the Subsidiaries in accordance with the terms and conditions hereof and the other Loan Documents. 

“Managing Member Membership Interests” shall mean the Owner VIII Membership Interests, the Owner XI Membership Interests, the
Tenant XI Membership Interests, the Owner XII Membership Interests, the Owner XVII Membership Interests and the Owner XVIII Membership Interests. 

“Market Disruption Event” shall have the meaning given to it in Section 5.11(a)(iii). 

“Master Leases” shall mean the master leases (i) between each of the Owner Companies and its related Tenant Company, as
amended and restated as of the date of this Agreement or (ii) between the Inverted Lease Tax Equity Opcos. 
 “Master Purchase
Agreements” shall mean individually and collectively, as the context requires, (i) the Owner VIII Master Purchase Agreement, (ii) the Owner XII Master Purchase Agreement, (iii) the Owner XVII Master Purchase Agreement,
(iv) the Owner XVIII Master Purchase Agreement, (v) that Master Purchase Agreement dated as of October 15, 2010 between Sponsor and SunRun Solar Owner III, LLC, (vi) that Master Purchase Agreement dated as of December 1,
2009 between Sponsor and SunRun Solar Owner II, LLC, as amended by Amendment No. 1 thereto dated as of February 11, 2010 and by the First Amendment thereto dated on or around December 22, 2010, (vi) that Second Amended and
Restated Master Purchase Agreement dated as of February 28, 2009 between Sponsor and SunRun Solar Owner I, LLC, as amended by Amendment No 1 thereto dated November 25, 2009 and (vii) that Master Purchase Agreement dated as of June 13,
2013 between Sponsor and SunRun Solar Owner XI, LLC. 
 “Master Turnkey Installation Agreement” shall mean, with respect to
a Project, the master turnkey installation agreement executed in respect of such Project by Sponsor and an installer, the rights as to which are assigned to a Subsidiary with respect to a specific Project. 

“Material Adverse Effect” shall mean, (i) a material adverse effect upon the business, operations, property, assets or
condition (financial or otherwise) of the Borrower or any Loan Party, or (ii) the material impairment of the ability of any Loan Party or the Sponsor to perform its obligations under any Loan Document, (iii) a material adverse effect on
the legality, validity or enforceability of any of the (A) Loan Documents or the rights and remedies of any Secured Party under any of the Loan Documents (including the validity, perfection or priority of the Collateral Agent’s Liens on
the Collateral) or (B) Limited Liability Company Agreements or Sponsor Guaranties, or (iv) a material adverse effect on the use, value or operation of the Projects owned or leased by the Opcos taken as a whole. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			27		TLA CREDIT AGREEMENT

 “Maturity Date” shall mean December 31, 2021. 

“Maximum Rate” shall have the meaning given to it in Section 13.18. 

“Membership Interests” shall mean the Borrower Membership Interests, the Owner Membership Interests, the Tenant Membership
Interests, Managing Member Membership Interests and the Holdco Membership Interests. 
 [***] 

“Moody’s” shall mean Moody’s Investors Service, Inc. 

“Multiemployer Plan” shall mean a “multiemployer plan” as defined in Section 3(37) or Section 4001(a)(3)
of ERISA. 
 “Net Available Amount” means, with respect to (i) any Asset sale by a Relevant Party, (ii) any Event
of Loss, or (iii) the issuance or incurrence of any Indebtedness by any Relevant Party, the sale proceeds, Loss Proceeds, debt proceeds or other amounts received in connection therewith net of any (A) such sale proceeds, Loss Proceeds,
debt proceeds or other amounts required to be allocated to a Tax Equity Member pursuant to a Tax Equity Document and (B) reasonable and documented transaction or collection expenses (as applicable). 

“Non-Consenting Lender” shall mean any Lender that does not approve any consent, waiver or amendment that (i) requires
the approval of all Lenders or all affected Lenders in accordance with the terms of Section 13.01 and (ii) otherwise has been approved by the Required Lenders. 

“Non-Covered Services” has the meaning given to such term is defined in each applicable O&M Agreement. 

“Note” shall have the meaning given to it in Section 2.06. 

“Notice of LC Activity” has the meaning set forth in Section 2.04(b). 

“O&M Agreements” shall mean, collectively, (i) the Tenant O&M Agreement and (ii) each Tax Equity Opco
O&M Agreement. 
 “Obligations” shall mean the principal amount of the Loans, accrued interest thereon and all advances
to, fees, costs, expenses and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document (including the Secured Hedging Obligations, any premium, reimbursements, Drawing Payments, damages, expenses,
fees, costs, charges, disbursements, indemnities, and other liabilities) or otherwise with respect to any Loan, Letter of Credit or Secured Interest Rate Hedging Agreement, in each case whether direct or indirect (including those acquired by
assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest that would accrue on any of the foregoing during the pendency of any bankruptcy or related proceeding with respect to any Loan Party.

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			28		TLA CREDIT AGREEMENT

 “Officer’s Certificate” shall mean a certificate signed by any Authorized
Officer of the Borrower and delivered to the Administrative Agent. 
 “OID” shall have the meaning given to it in
Section 5.09(g). 
 “Omnibus Distribution and Contribution Agreement” shall mean the Omnibus Distribution and
Contribution Agreement dated the date hereof among the Borrower, Sponsor, Intermediate Holdco, Pledgor, Sunrun Solar Owner Holdco X, LLC, a Delaware limited liability company, Sunrun Solar Owner Holdco XIII, LLC, a Delaware limited liability company
and Sunrun Holdco XIII, LLC, a Delaware limited liability company. 
 “Opco” means, collectively, each Tax Equity Opco and
each Wholly Owned Opco. 
 “Operating Budget” means the operating budget for the Relevant Parties set out under
Section 7.01(e)(i) and as approved when required by the Administrative Agent. 
 “Operating Expenses” means for
any applicable period, all expenses and other amounts in the nature of expenses incurred by the Borrower, the Wholly Owned Opcos and, except where used in the definition of Cash Available for Debt Service, the Tax Equity Opcos during that period on
a cash basis, including (without duplication) (i) payments under the Management Agreement, Back-Up Servicing Agreement, the O&M Agreements and the other Project Documents (including, without duplication, all Service Fees and costs and
expenses for Non-Covered Services and capital expenditures), (ii) payments to comply with Laws (including Environmental Laws), (iii) insurance premiums to the extent not covered in the Service Fees under the O&M Agreements,
(iv) Taxes (including payments in lieu of taxes), and (v) any other fee, cost and expense incurred in connection with (x) ownership, leasing and operation of the Projects held by the Wholly Owned Opcos and, except where used in the
definition of Cash Available for Debt Service, the Tax Equity Opcos and (y) the ownership of the Membership Interests (including Additional Expenses and fees, costs, indemnities and expenses payable to the Secured Parties pursuant to
Section 4.02(b)(i) of the Depository Agreement), but excluding (A) Debt Service and (B) expenses and amounts in the nature of expenses which are paid with the proceeds of Excluded Property or a contribution by or on behalf of the
Sponsor or Pledgor as required pursuant to the Cash Diversion Guaranty. 
 “Operating Revenues” means for any applicable
period, all Collections, received by the Borrower from the Opcos during that period on a cash basis but excluding (without duplication): 

(i) any capital contribution or any other amounts contributed to the Relevant Parties by Sponsor, Pledgor or their Affiliates; 

(ii) the proceeds of the Loans or any other Indebtedness incurred by a Relevant Party; 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			29		TLA CREDIT AGREEMENT

 (iii) any net payments to the Borrower under an Interest Rate Hedging Agreement; 

(iv) the proceeds of the sale, assignment or other disposition of any Collateral or other Asset of a Relevant Party (other than
(A) ordinary course sales of power or the leasing of a photovoltaic system pursuant to the Customer Agreements and (B) PBI Payments); 

(v) proceeds of any Customer Prepayment Event, including any termination payment, elective prepayment or purchase payments; 

(vii) Loss Proceeds and any other insurance proceeds (other than business interruption proceeds) and proceeds of any warranty claims arising
from manufacturer, installer and other warranties; 
 (ix) any other proceeds or other amounts that are required to be mandatorily prepaid
pursuant to Section 5.03 of this Agreement; and 
 (x) any Excluded Property and the proceeds thereof. 

“Operator” shall mean (i) in respect of the Tenant O&M Agreement, the Sponsor or any replacement operator appointed
in accordance with the terms and conditions herein and in the Wholly Owned Back-Up Servicing Agreement and (ii) in respect of any Tax Equity Opco O&M Agreement, the Sponsor or any replacement operator appointed in accordance with the terms
and conditions herein and in the applicable Tax Equity Opco Back-Up Servicing Agreement. 
 “Other Connection Taxes” shall
mean, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising solely from such Recipient having executed, delivered,
become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or
Loan Document). 
 “Other Depository Agreement” shall mean the Depository Agreement dated as of the Closing Date, among
Pledgor as borrower, Investec Bank plc, as Administrative Agent for the Other Lenders and OneWest Bank N.A. as collateral agent for the secured parties referred to therein and as Depository Bank. 

“Other Collateral Agent” has the meaning given to the term “Collateral Agent” in the Other Credit Agreement. 

“Other Credit Agreement” shall mean that certain Credit Agreement, dated as of the Closing Date, between Pledgor, as
borrower, the financial institutions as lenders from time to time party thereto and Investec Bank plc, as Administrative Agent for the lenders. 

“Other Lenders” has the meaning given to the term “Lenders” in the Other Credit Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			30		TLA CREDIT AGREEMENT

 “Other Loan Documents” shall mean the “Loan Documents” as such term is
defined in the Other Credit Agreement. 
 “Other Taxes” shall mean all present or future stamp, court or documentary,
intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect
to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 5.10(b)). 

“Owner Companies” shall have the meaning given to it in the Recitals. 

“Owner Membership Interests” shall mean all of the outstanding membership interests issued by the Owner Companies (including
all Economic Interests and Voting Rights). 
 [***] 

“Owner VIII” shall have the meaning given to it in the Recitals. 

“Owner VIII Master Purchase Agreement” shall mean that Master Purchase Agreement effective as of October 26, 2012
between Sponsor and Owner VIII. 
 “Owner VIII Membership Interests” shall mean all of the outstanding class B membership
interests issued by Owner VIII (including all Economic Interests and Voting Rights applicable to the managing member). 
 “Owner
XI” shall have the meaning given to it in the Recitals. 
 “Owner XI Membership Interests” shall mean all of the
outstanding ownership interests issued by Owner XI to its managing member in accordance with the variable percentage interests under Schedule A of the Limited Liability Company Agreement of Owner XI (including all such Economic Interests and Voting
Rights applicable to the managing member). 
 “Owner XII” shall have the meaning given to it in the Recitals. 

“Owner XII Master Purchase Agreement” shall mean that Master Purchase Agreement effective as of October 23, 2013 between
Sponsor and Owner XII. 
 “Owner XII Membership Interests” shall mean all of the outstanding class B membership interests
issued by Owner XII (including all Economic Interests and Voting Rights applicable to the managing member). 
 “Owner XVII”
shall have the meaning given to it in the Recitals. 
 “Owner XVII Master Purchase Agreement” shall mean that Master
Purchase Agreement effective as of May 31, 2014 between Sponsor and Owner XVII. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			31		TLA CREDIT AGREEMENT

 “Owner XVII Membership Interests” shall mean all of the outstanding class B
interests issued by Owner XVII (including all Economic Interests and Voting Rights applicable to the managing member). 
 “Owner
XVIII” shall have the meaning given to it in the Recitals. 
 “Owner XVIII Master Purchase Agreement” shall mean
that Master Purchase Agreement effective as of August 6, 2014, between Sponsor and Owner XVIII. 
 “Owner XVIII Membership
Interests” shall mean all of the outstanding class B membership interests issued by Owner XVIII (including all Economic Interests and Voting Rights applicable to the managing member). 

“Participant” shall have the meaning given to it in Section 13.05(d)(i). 

“Participant Register” shall have the meaning given to it in Section 13.05(d)(ii). 

“Partnership Flip Tax Equity Opco” shall mean, collectively, Owner VIII, Owner XII, Owner XVII and Owner XVIII. 

“Partnership Flip Back-Up Servicing Agreement” shall mean collectively, (a) that certain Back-Up Servicing Agreement,
dated as of October 26, 2012, by and between Owner VIII, the Back-Up Servicer and the Operator under the applicable Tax Equity Opco O&M Agreement, (b) that certain Back-Up Servicing Agreement, dated as of October 23, 2013, by and
between Owner XII, the Back-Up Servicer and the Operator under the applicable Tax Equity Opco O&M Agreement, (c) that certain Back-Up Servicing Agreement, dated as of May 31, 2014, by and between Owner XVII, the Back-Up Servicer and
the Operator under the applicable Tax Equity Opco O&M Agreement, (d) that certain Back-Up Servicing Agreement, dated as of August 6, 2014, by and between Owner XVIII, the Back-Up Servicer and the Operator under the applicable Tax
Equity Opco O&M Agreement and (e) each replacement for such agreement in a form and substance acceptable to the Administrative Agent entered into with a replacement back-up servicer in accordance with the terms and conditions hereof and the
Tax Equity Documents. 
 “PATRIOT Act” shall have the meaning given to it in Section 13.12. 

“Payment Date” shall mean each January 31 (except in 2015, as set forth in the proviso below),
April 30, July 31 and October 31 of each year falling after the date hereof, or if any such day is not a Business Day, the immediately preceding Business Day, provided, that, for the avoidance of doubt, the first
Payment Date shall occur on April 30, 2015. 
 “Payment Facilitation Agreement” has the meaning given to it in
Section 8.10(a). 
 “PBI Documents” means, with respect to a Project located in Connecticut or Colorado,
(i) all applications, forms and other filings required to be submitted to a PBI Obligor in connection with the performance based incentive program maintained by such PBI Obligor and the procurement of PBI Payments and (ii) all approvals,
agreements and other writings evidencing (a) that all conditions to the payment of PBI Payments by the PBI Obligor have been met, (b) that the PBI Obligor is obligated to pay PBI Payments and (c) the rate and timing of such PBI
Payments. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			32		TLA CREDIT AGREEMENT

 “PBI Obligor” means Xcel Energy Inc., in relation to Projects located in
Colorado, and the Clean Energy Finance and Investment Authority, in relation to Projects located in Connecticut. 
 “PBI
Payments” means, with respect to a Project located in Connecticut or Colorado and the related PBI Documents, all payments due by the related PBI Obligor under or in respect of such PBI Documents 

“Permits” shall mean any and all franchises, licenses, leases, permits, approvals, notifications, certifications,
registrations, authorizations, exemptions, qualifications, easements, rights of way, Liens and other rights, privileges and approvals required to be obtained from a Governmental Authority under any Law, rule or regulation (including those required
to interconnect a Project to the applicable transmission grid). 
 “Permitted Indebtedness” shall have the meaning given to
it in Section 8.01. 
 “Permitted Liens” shall mean: 

(a) Liens imposed by any Governmental Authority for taxes, assessments or other governmental charges (i) that are not yet due or
(ii) that are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted (and enforcement of such Lien shall have been stayed) so long as (x) such proceeding shall not involve any material risk of
the sale, forfeiture or loss of any part of any Project and shall not interfere with the use or disposition of any Project and (y) the payment thereof is fully covered by adequate reserves in accordance with GAAP, bonds or other security. 

(b) mechanics’, materialmen’s, repairmen’s and other similar liens arising in the ordinary course of business or incident to
the construction, improvement or restoration of a Project in respect of obligations (i) that are not yet due or (ii) that are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted (and
enforcement of such Lien shall have been stayed) so long as (x) such proceedings shall not involve any material risk of forfeiture, sale or loss of any part of such Project and shall not interfere with the use or disposition of any Project, and
(y) the payment thereof is fully covered by adequate reserves in accordance with GAAP, bonds or other security; 
 (c) minor defects,
easements, rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business and that are not incurred to secure Indebtedness and encumbrances, licenses, restrictions on the use of property or minor imperfections
in title that do not materially impair the property affected thereby for the purpose for which title was acquired or interfere with the operation and maintenance of a Project; 

(d) judgment Liens that (i) do not involve any material risk of the sale, forfeiture or loss of any part of any Project and do not
interfere with the use or disposition of any 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			33		TLA CREDIT AGREEMENT

 
Project, (ii) within ten Business Days of their existence or after the entry thereof, are being contested in good faith and by appropriate appeal or review proceedings (and execution thereof
is stayed pending such appeal or review), (iii) for which the payment thereof is fully covered by adequate reserves in accordance with GAAP, bonds or other security and (iv) which could not reasonably be expected to result in an Event of
Default; 
 (e) deposits or pledges required to secure the performance of statutory obligations, appeals, supersedes and other bonds in
connection with judicial or administrative proceedings and other obligations of a like nature not in excess of $50,000 in the aggregate; 

(f) zoning, entitlement, conservation restrictions and other land use and environmental regulations by Governmental Authorities that do not
involve any material risk of the sale, forfeiture or loss of any part of any Project and do not interfere with the use or disposition of any Project, and provided that the relevant owner of legal title to a Project is not in violation thereof; 

(g) statutory Liens of banks (and rights of set off) not securing Indebtedness and incurred in the ordinary course of business; 

(h) Liens created pursuant to the Loan Documents; 

(i) Liens incurred to secure the obligations of an Opco under an Excluded REC Contract, solely to the extent such Liens are limited to the
RECs sold under such Excluded REC Contract which are actually produced and the proceeds thereof; and 
 (j) in respect of the Tax Equity
Opcos only, Liens permitted under the terms of the Tax Equity Documents to the extent not included in clauses (a) through (i) of this definition of “Permitted Liens” that have either (i) been approved in writing by the
Administrative Agent or (ii) subject to Section 8.15, when taken together, could not reasonably be expected to result in a material adverse effect upon the business, operations, assets or condition (financial or otherwise) of any
individual Tax Equity Opco. 
 “Person” shall mean any individual, corporation, estate, partnership, joint venture,
association, joint stock company, limited liability company, trust (including any beneficiary thereof), unincorporated organization, or government or any agency or political subdivision thereof. 

“Placed in Service” means, in respect of a Project, that it has been placed in service for U.S. federal tax purposes,
including that it has been placed in a condition or state of readiness and availability for its specifically assigned function of generating electricity from solar energy and specifically that (i) all necessary permits and licenses for
operating such Project have been obtained (including permission to operate from the applicable local utility), (ii) all critical tests necessary for proper operation of such Project have been performed, (iii) legal title to such Project is
held by a Subsidiary (and title and control of such Project has been handed over by the installer under the applicable installation agreement), (iv) initial synchronization of such Project to the grid has occurred and (v) daily operation
of such Project has begun. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			34		TLA CREDIT AGREEMENT

 “Plan” shall mean an “employee benefit plan” within the meaning of
section 3(3) of ERISA which is subject to Title I of ERISA; a plan, individual retirement account or other arrangement that is subject to section 4975 of the Code or provisions under any Similar Laws; and an entity whose underlying assets are
considered to include “plan assets” of any such plan, account or arrangement. 
 “Pledge Agreement” shall mean
that certain pledge agreement dated as of the Closing Date by and between the Pledgor and the Collateral Agent for the benefit of the Lenders, with respect to the Borrower Membership Interests. 

“Pledge and Security Agreement” shall mean that certain pledge and security agreement dated as of the Closing Date by and
between the Borrower and the Collateral Agent for the benefit of the Lenders. 
 “Pledgor” has the meaning given to it in
the Recitals. 
 “Pledgor Collections Account” shall have the meaning given to it in the Other Depository Agreement. 

“Portfolio Documents” shall mean (a) the Project Documents, (b) the Tax Equity Documents, (c) the Wholly Owned
Documents and (d) the Management Agreement. 
 “Prepaid Customer Agreement” shall mean a Customer Agreement with
respect to which the all amounts due from the Customer over the term of such Customer Agreement in respect of the delivery of Energy have been prepaid. 

“Project” means a residential photovoltaic system including photovoltaic panels, racking systems, wiring and other electrical
devices, conduit, weatherproof housings, hardware, inverters, remote operating equipment, connectors, meters, disconnects, over current devices and battery storage (including any replacement or additional parts included from time to time) and,
unless the context otherwise requires a reference to such residential photovoltaic system only, shall include the applicable Customer Agreement and PBI Documents related to such photovoltaic system and all other related rights, Permits and
manufacturer, installer and other warranties applicable thereto. 
 “Project Documents” shall mean (a) each Customer
Agreement (including any Payment Facilitation Agreement), (b) all PBI Documents and (c) each Master Turnkey Installation Agreement. 

“Project Information” means the information listed on Schedule A. 

“Project Pool” means a series of Eligible Projects sold to Owner XVII or Owner XVIII in accordance with the applicable Master
Purchase Agreement each of which has been Placed in Service and which has not been incorporated into the Base Case Model prior to the Subsequent Advance Date for such series of Eligible Projects. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			35		TLA CREDIT AGREEMENT

 “Project State” means each state of the United States of America listed under
Schedule 6.23(n). 
 “Prudent Industry Practices” shall mean, with respect to any Project, those practices, methods,
acts, equipment, specifications and standards of safety and performance, as they may change from time to time, that (a) are commonly used to own, manage, repair, operate, maintain and improve distributed solar energy generating facilities and
associated facilities of the type that are similar to such Project, safely, reliably, prudently and efficiently and in material compliance with applicable requirements of Law and manufacturer, installer and other warranties and (b) are
consistent with the exercise of the reasonable judgment, skill, diligence, foresight and care expected of a distributed solar energy generating facility operator or manager in order to accomplish the desired result in material compliance with
applicable safety standards, applicable requirements of Law, manufacturer, installer and other warranties and the applicable Customer Agreement, in each case, taking into account the location of such Project, including climatic, environmental and
general conditions. “Prudent Industry Practices” are not intended to be limited to certain practices or methods to the exclusion of others, but are rather intended to include a broad range of acceptable practices, methods, equipment
specifications and standards used in the photovoltaic solar power industry during the relevant time period. 
 “PUHCA”
shall mean the Public Utility Holding Company Act of 2005, as amended, and FERC’s regulations thereunder. 
 “Qualified
Owner”: any Person that [***] 
 “Qualifying Facility” shall mean a “qualifying facility” as defined in
the regulations of FERC at 18 C.F.R. § 292.101(b)(1) that also qualifies for the regulatory exemptions from the FPA set forth at 18 C.F.R. § 292.601(c), including the exemption from regulation under Sections 205 and 206 of the FPA set
forth at 18 C.F.R. § 292.601(c)(1), the regulatory exemptions from PUHCA set forth at 18 C.F.R. § 292.602(b) and the exemptions from certain state laws and regulations set forth at 18 C.F.R. § 292.602(c). 

“Quotation Day” means the Interest Rate Determination Date, unless market practice differs in the London interbank market, in
which case the Quotation Day will be determined by the Administrative Agent in accordance with market practice in the London interbank market (and if quotations would normally be given by leading banks in the London interbank market on more than one
day, the Quotation Day will be the last of those days). 
 “REC” shall mean any credits, credit certificates, green tags or
similar environmental or green energy attributes (such as those for greenhouse reduction or the generation of green power or renewable energy) created by a Governmental Authority and/or independent certification board or group generally recognized
in the electric power generation industry, and generated by or associated with any Project or electricity produced therefrom, but specifically excluding any and all production tax credits, investment tax credits, grants in-lieu of tax credits and
other tax benefits and any performance based incentives paid under a program maintained or administered by a utility or federal, state or local Governmental Authority. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			36		TLA CREDIT AGREEMENT

 “REC Contract” shall mean a contract for the purchase of RECs and/or the related
Reporting Rights. 
 “REC Purchaser” shall mean the purchaser of RECs and/or the related Reporting Rights under a REC
Contract. 
 “Recapture Period” shall mean the period from the Closing Date through the fifth anniversary of the date that
the Project is Placed in Service. 
 “Recipient” means (a) an Agent, (b) any Lender, (c) the Issuing Bank or
(d) any other Secured Party, as applicable. 
 “Reference Banks” has the meaning given to it in the definition of
LIBOR. 
 “Register” shall have the meaning given to it in Section 13.05(c). 

“Reimbursement Date” has the meaning set forth in Section 2.04(c)(ii) of the Agreement. 

“Related Party” shall mean, with respect to any Person, each of such Person’s Affiliates and the partners, directors,
officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Relevant Experience” shall mean at least three (3) years of experience (either directly or accessed under contract
through such Person’s direct or indirect parent or a third party provider) as (i) the owner or manager or (ii) the operator or manager of, not less than two hundred (200) MWs of solar generation facilities in the United States,
which shall be inclusive, in part, of experience with residential distributed generation solar assets. 
 “Relevant Party”
shall mean each of the Loan Parties and the Tax Equity Opcos. 
 “Rents” shall mean the monies owed to the applicable
Relevant Party by the Customers pursuant to the Customer Agreements, including any lease payments under any solar lease agreement and power purchase payments under any solar power service agreement or solar power purchase agreement that is a
Customer Agreement. 
 “Replaced Hedge Provider” shall have the meaning given to it in Section 5.10(b). 

“Replacement Hedge Provider” shall have the meaning given to it in Section 5.10(b). 

“Reporting Right” shall mean the right of a Person that owns a REC to report that it owns such REC (i) to any
Governmental Authority or other Person under any emissions trading or reporting program, public or private, having jurisdiction over, or otherwise charged with overseeing or reviewing the activities of, such Person in respect of such REC, and
(ii) to Customers or potential customers for the purposes of marketing and advertising. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			37		TLA CREDIT AGREEMENT

 “Required Debt Service Reserve Amount” shall have the meaning given to it in the
Depository Agreement. 
 “Required Facility Lenders” shall mean, with respect to any Facility, at least two Lenders (or all
Lenders if there is only one Lender), other than Defaulting Lenders, representing more than 50% of the Commitments, Loans and LC Exposure, as the case may be, outstanding under such Facility. 

“Required Lenders” shall mean at least two Lenders (or all Lenders if there is only one Lender), other than Defaulting
Lenders, representing more than 50% of the aggregate amount of (and for the avoidance of doubt, taken together) Commitments, Loans and LC Exposure outstanding. 

“Resignation Effective Date” shall have the meaning given to it in Section 12.06(a). 

“Restricted Payment” means any dividend or make any distribution (by reduction of capital or otherwise), whether in cash,
property, securities or a combination thereof, to an owner of a beneficial interest in such Person or otherwise with respect to any ownership or equity interest or security in or of such Person. 

“Revenue Account” shall have the meaning given to it in the Depository Agreement. 

“Sanctioned Country” means any country or other territory subject to a general export, import, financial or investment
embargo under any Sanctions, which, as of the date of this Agreement, include Cuba, Iran, North Korea, North Sudan and Syria. 

“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by
any Sanctions Authority. 
 “Sanctions Authority” means (i) the United States, (ii) the United Nations Security
Council, (iii) the European Union, (iv) the United Kingdom or (v) the respective governmental institutions of any of the foregoing including, without limitation, Her Majesty’s Treasury, the Office of Foreign Assets Control of the
US Department of the Treasury, the US Department of Commerce, the US Department of State and any other agency of the US government 

“Sanctions List” means any of the lists of specifically designated nationals or designated or sanctioned individuals or
entities (or equivalent) issued by any Sanctions Authority, each as amended, supplemented or substituted from time to time (including any the list of Specially Designated Nationals and Blocked Persons published by the Office of Foreign Assets
Control, United States Department of the Treasury). 
 “Secured Hedge Provider” has the meaning given to it in the
Collateral Agency Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			38		TLA CREDIT AGREEMENT

 “Secured Hedging Obligations” means the obligations of the Borrower under the
Secured Interest Rate Hedging Agreements. 
 “Secured Interest Rate Hedging Agreement” means each Interest Rate Hedging
Agreement entered into by the Borrower with a Secured Hedge Provider. 
 “Secured Party” has the meaning given to such term
in the Collateral Agency Agreement. 
 “Service Fees” shall have the meaning given to such term in the O&M Agreements.

 “Serial Defect” shall have the meaning given to such term in the Depository Agreement. 

“Servicer Termination Event” means 

(a) failure by Operator, Manager or Sponsor to make any payment, transfer or deposit (including payments from the General Account and payments
to the Collections Account) required to be made under terms of Section 4.01, an O&M Agreement or the Management Agreement within three (3) Business Days of the date required; 

(b) failure by the Manager to deliver the Manager’s report referred to in Section 7.01(a)(iii) or the Operator to deliver the
Operator’s reports referred to in Section 7.01(a)(iv) within five (5) Business Days of date required to be delivered; 

(c) an event of default (howsoever described) or right or cause to remove the Operator or Manager arises under the O&M Agreement or
Management Agreement; 
 (d) an event described in Section 11.01(e) or 11.01(f) occurs with respect to the Operator or Manager; 

(e) any (i) representation or warranty made by the Operator or Manager in the O&M Agreements or Management Agreement, or any
Financial Statement or certificate, report or other writing furnished pursuant thereto, or (ii) certificate, report, any Financial Statement or other writing made or prepared by, under the control of or on behalf of the Operator or Manager
shall prove to have been untrue or misleading in any material respect as of the date made; provided, however, that if any such misstatement is capable of being remedied and has not caused a Material Adverse Effect, the Operator or
Manager (as applicable may correct such misstatement by curing such misstatement (or the effect thereof) and delivering a written correction of such misstatement, in a form and substance satisfactory to the Administrative Agent, within thirty
(30) days of (x) obtaining Knowledge of such misstatement or (y) receipt of written notice from a Relevant Party or the Administrative Agent of such default; 

(f) the Operator or Manager ceases to be in business of monitoring or maintaining energy equipment of a type comparable to the Projects; 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			39		TLA CREDIT AGREEMENT

 (g) at all times that the Sponsor is an Operator or Manager, an Event of Default shall have
occurred and is continuing; 
 (h) the Debt Service Coverage Ratio is less than 1.05 to 1.00 on any Calculation Date; and

 (i) Termination of an O&M Agreement by a Tax Equity Opco (including the Tax Equity Member on its behalf) other than at its normal
expiry date in accordance with its terms. 
 “Similar Law” shall mean the provisions under any federal, state, local,
non-U.S. or other Laws or regulations that are similar to the fiduciary responsibility provisions of Title I of ERISA or prohibited transaction provisions of Title I of ERISA or section 4975 of the Code. 

“S&P” shall mean Standard & Poor’s Financial Services, LLC, a subsidiary of the McGraw-Hill Companies, Inc.

 “Sponsor” shall have the meaning given to it in the Recitals. 

“Sponsor Guaranty” means each of (i) the guaranty dated as of August 6, 2014 issued by Sponsor , as guarantor in
favor of Owner XVIII and the “Class A Member” (as defined in Owner XVIII’s Limited Liability Agreement), (ii) the guaranty dated as of October 26, 2012 issued by Sponsor, as guarantor in favor of Owner VIII and the
“Class A Member” (as defined in Owner VIII’s Limited Liability Agreement), (iii) the guaranty dated as of October 23, 2013 issued by Sponsor, as guarantor in favor of Owner XII and the “Class A Member” (as defined
in Owner XII’s Limited Liability Agreement), (iv) the guaranty dated as of May 31, 2014 issued by Sponsor, as guarantor in favor of Owner XVII and the “Class A Member” (as defined in Owner XVII’s Limited Liability
Agreement) and (v) the guaranty dated as of June 13, 2013 issued by Sponsor, as guarantor in favor of Tenant XI, Owner XI and [***], a Delaware limited liability company. 

“Standard Rate” shall mean for any Interest Period, a rate per annum equal to LIBOR plus the Applicable Margin, calculated as
of the relevant Interest Rate Determination Date. 
 “Stated Amount” shall mean, with respect to any Letter of Credit at
any time, the total amount in U.S. Dollars available to be drawn under such Letter of Credit (as reflected on Schedule 1 to such Letter of Credit) at such time. 

“[***] Amendment” means, collectively, the [***] Amendment I and the [***] Amendment II. 

“[***] Amendment I” means an amendment to be entered into in respect of the Limited Liability Company Agreement of
Owner XII by and between Holdco XII and [***] Corporation, a Delaware corporation, in form and substance reasonably satisfactory to the Administrative Agent. 

“[***] Amendment II” means an amendment to be entered into in respect of the Limited Liability Company Agreement of
Owner XVII by and between Holdco XVII and [***] Corporation, a Delaware corporation, in form and substance reasonably satisfactory to the Administrative Agent. 

“Subsequent Advance Date” has the meaning given to it in Section 2.02(c). 

“Subsidiaries” shall have the meaning given to it in the Recitals. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			40		TLA CREDIT AGREEMENT

 “Swap Agreement”: any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic,
financial or pricing risk or value or any similar transaction or any combination of these transactions. 
 [***] 

“Tax Equity Account Agreement” shall mean, collectively, (a) that certain Blocked Account Control Agreement, dated as of
October 26, 2012, by and between Owner VIII, Holdco VIII, [***] and the Tax Equity Depository Bank, (b) that certain Blocked Account Control Agreement, dated as of October 23, 2013, by and between Owner XII, Holdco XII, [***] and the
Tax Equity Depository Bank, (c) that certain Blocked Account Control Agreement, dated as of May 31, 2014, by and between Owner XVII, Holdco XVII, [***] and the Tax Equity Depository Bank and (d) that certain Blocked Account Control
Agreement, dated as of August 6, 2014, by and between Owner XVIII, Holdco XVIII, [***] and the Tax Equity Depository Bank. 

“Tax Equity Depository Bank” means [***]. 

“Tax Equity Documents” shall mean, for each Tax Equity Opco, the applicable Limited Liability Company Agreement, Master
Purchase Agreement, Master Lease, Tax Equity Opco O&M Agreement, each Tax Equity Account Agreement, each Partnership Flip Back-Up Servicing Agreement, each Sponsor Guaranty, and any other documents reflecting an agreement between Sponsor (or any
Affiliate or Sponsor) and any of the Tax Equity Members relating to such Tax Equity Members’ investment in a Project or Tax Equity Opco. 

“Tax Equity Member” shall mean, with respect to any Tax Equity Opco, a member of such Tax Equity Opco other than a Holdco.

 “Tax Equity Opco” shall mean, collectively, each Inverted Lease Tax Equity Opco and each Partnership Flip Tax Equity
Opco. 
 “Tax Equity Opco Back-Up Servicing Agreement” shall mean, collectively, the Inverted Lease Back-Up Servicing
Agreement (from and following the date that such agreement becomes effective) and each Partnership Flip Back-Up Servicing Agreement. 

“Tax Equity Opco O&M Agreement” shall mean, collectively, (i) the Master Operation, Maintenance and Administration
Agreement dated as of October 26, 2012, by and between Owner VIII and Operator, (ii) the Master Operation, Maintenance and Administration Agreement dated as of October 23, 2013, by and between Owner XII and Operator, (iii) the
Master Operation, Maintenance and Administration Agreement dated as of May 31, 2014, by and between Owner XVII and Operator, (iv) the Master Operation, Maintenance and Administration Agreement dated as of August 6, 2014, by and between
Owner XVIII and Operator, (v) each replacement for such agreements in a form and substance acceptable to the Administrative Agent entered into with an Operator in accordance with the terms and conditions hereof, the applicable Tax Equity Opco
Back-Up Servicing Agreement and the other Tax Equity Documents and (vi) the Inverted Lease O&M Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			41		TLA CREDIT AGREEMENT

 “Tax Equity Opco Representations” means the representations set forth in Part 1
of Annex B. 
 “Tax Exempt Person” shall mean (a) (a) the United States, any state or political subdivision
thereof, any possession of the United States or any agency or instrumentality of any of the foregoing, (b) any organization which is exempt from tax imposed by the Code (including any former tax-exempt organization within the meaning of section
168(h)(2)(E) of the Code), (c) any Person who is not a United States Person, (d) any Indian tribal government described in section 7701(a)(40) of the Code and (e) any “tax-exempt controlled entity” under section
168(h)(6)(F) of the Code; provided, however, that any such Person shall not be considered a Tax-Exempt Person to the extent that (i) the exception under section 168(h)(1)(D) of the Code applies with respect to the income from the
Borrower for that Person, (ii) the Person is described within clause (c) of this definition, and the exception under section 168(h)(2)(B)(i) of the Code applies with respect to the income from the Borrower for that Person, or
(iii) such Person avoids being a “tax-exempt controlled entity” under section 168(h)(6)(F) of the Code by making an election under section 168(h)(6)(F)(ii) of the Code. A Person shall cease to be a Tax Exempt Person if (i) such
Person ceases to be a “tax-exempt entity” within the meaning of section 168(h)(2) of the Code or any successor provision thereto, by virtue of a change in such section or provision of the Code; or (ii) such Person ceases to be a
“tax-exempt controlled entity” within the meaning of section 168(h)(6)(F) of the Code or any successor provision thereto, by virtue of a change in such section or provision of the Code. 

“Taxes” shall mean all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup
withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Tenant XI” shall have the meaning given to it in the Recitals. 

“Tenant XI Membership Interests” shall mean all of the outstanding ownership interests issued by Tenant XI to its managing
member in accordance with the variable percentage interests under Schedule A of the Limited Liability Company Agreement of Tenant XI (including all such Economic Interests and Voting Rights applicable to the managing member). 

“Tenant Company Accounts” shall mean the Tenant Company ACH Accounts and the Tenant Company Deposit Accounts. 

“Tenant Company ACH Accounts” shall mean those accounts subject to an Account Control Agreement pursuant to clause
(ii) of the definition of Account Control Agreement. 
 “Tenant Company Deposit Accounts” shall mean those accounts
subject to an Account Control Agreement pursuant to clause (i) of the definition of Account Control Agreement. 

  
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			42		TLA CREDIT AGREEMENT

 “Tenant Company Standing Instructions” has the meaning given to it in
Section 4.01(e). 
 “Tenant Companies” shall have the meaning given to it in the Recitals. 

“Tenant Membership Interests” shall mean all of the outstanding membership interests issued by the Tenant Companies. 

“Tenant O&M Agreement” shall mean the Master Operation and Maintenance Agreement by and among each of the Tenant
Companies and Operator, and dated as of the date hereof and each replacement for such agreement in a form and substance acceptable to the Administrative Agent entered into with an Operator in accordance with the terms and conditions hereof and the
Wholly Owned Back-Up Servicing Agreement (from and following the date that such agreement becomes effective). 
 “Term
Commitment” shall mean, as to each Lender, the aggregate of such Lender’s Initial Term Loan Commitment and Delayed Draw Commitment. 

“Term Facility” has the meaning given in the definition of “Facility”. 

“Term Lender” shall mean a Lender with a Term Commitment, which as of the Closing Date is as set forth on
Schedule 2.01. 
 “Term Loan” means, individually and collectively, an Initial Term Loan and a Delayed Draw
Term Loan (if any). The Initial Term Loans and Delayed Draw Term Loans shall have the same terms and shall be “Term Loans” for all purposes of this Agreement and shall constitute one tranche with, and be the same Class as each other. 

“Tracking Model” has, in respect of a Partnership Flip Tax Equity Opco, the meaning given to such term in the Limited
Liability Company Agreement for such Partnership Flip Tax Equity Opco. 
 “Trade Date” shall have the meaning given to it
in Section 13.05(b)(i)(B). 
 “Transaction Document” means, collectively, each Loan Document and each Portfolio
Document. 
 “Transfer Date Certificate” shall have the meaning given to “Executed Withdrawal/Transfer
Instructions” in the Depository Agreement. 
 “UCC” shall mean the Uniform Commercial Code as in effect from time to
time in the State of New York. 
 “[***] Consent” means the multi-party agreement dated as of the date hereof, by and among the
Collateral Agent, the Other Collateral Agent, Borrower, Pledgor, Holdco XI, Owner XI, Tenant XI and [***]. 
 “U.S. Person”
shall mean any Person that is a “United States Person” as defined in section 7701(a)(30) of the Code. 

  
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			43		TLA CREDIT AGREEMENT

 “U.S. Tax Compliance Certificate” shall have the meaning given to it in
Section 5.09(e)(ii)(B)(II). 
 “Voting Rights” means the right, directly or indirectly, to vote on or cause the
direction of the management and policies of a Person in ordinary and extraordinary matters through the ownership of voting securities; provided, however, that a Person shall not be deemed to hold Voting Rights if by contract or by
order, decree or regulation of any Governmental Authority, such Person has effectively ceded or been divested of the power to exercise such vote on, or cause the direction of, such management and policies. 

“Wholly Owned Documents” shall mean the (i) Third Amended and Restated Operating Agreement, dated as of
December 31, 2014, by the Borrower, as the sole member of SunRun Solar Tenant I, LLC, a California limited liability company, (ii) Amended and Restated Operating Agreement, dated as of December 31, 2014, by the Borrower, as the sole
member of SunRun Solar Tenant II, LLC, a California limited liability company, (iii) Operating Agreement, dated as of December 31, 2014, by the Borrower, as the sole member of SunRun Solar Tenant III, LLC, a California limited liability
company, (iv) the Third Amended and Restated Operating Agreement, dated as of December 31, 2014, by the Borrower, as sole member of SunRun Solar Owner I, LLC, a California limited liability company, (v) Amended and Restated Operating
Agreement, dated as of December 31, 2009, by the Borrower, as sole member of SunRun Solar Owner II, LLC, a California limited liability company, (vi) Amended and Restated Operating Agreement, dated as of December 31, 2014, by the
Borrower, as sole member of SunRun Solar Owner III, LLC, a California limited liability company, (vii) Tenant O&M Agreement, (viii) Omnibus Sale And Contribution Agreement, dated as of June 7, 2013, by and between Sponsor and
SunRun Solar Owner Holdco X, LLC, a Delaware limited liability Company, (ix) Omnibus Termination Agreement, dated as of June 7, 2013, by and between Sponsor, SunRun Solar Owner I, LLC, a California limited liability company, and SunRun
Solar Tenant I, LLC, a California limited liability company, (x) Omnibus Termination Agreement, dated as of June 7, 2013, by and between Sponsor, SunRun Solar Owner II, LLC, a California limited liability company, and SunRun Solar Tenant
II, LLC, a California limited liability company, (xi) Omnibus Termination Agreement, dated as of June 7, 2013, by and between Sponsor, SunRun Solar Owner III, LLC, a California limited liability company, and SunRun Solar Tenant III, LLC, a
California limited liability company, (xii) Amended and Restated Master Lease, dated as of June 7, 2013, by and between SunRun Solar Tenant I, LLC, a California limited liability company, and SunRun Solar Owner I, LLC, a California limited
liability company, as amended by that certain First Amendment to Sunrun I Solar Program Amended and Restated Master Lease dated as of December 31, 2014, (xiii) Amended and Restated Master Lease, dated as of June 7, 2013, by and
between SunRun Solar Tenant II, LLC, a California limited liability company, and SunRun Solar Owner II, LLC, a California limited liability company, as amended by that certain First Amendment to Sunrun II Solar Program Amended and Restated Master
Lease dated as of December 31, 2014 (xiv) Amended and Restated Master Lease, dated as of June 7, 2013, by and between SunRun Solar Tenant III, LLC, a California limited liability company, and SunRun Solar Owner III, LLC, a California
limited liability company, as amended by that certain First Amendment to Sunrun III Solar Program Amended and Restated Master Lease dated as of December 31, 2014, (xv) Omnibus Assignment and Assumption Agreement, dated as of June 7,
2013, by and between [***] and Sponsor, and (xvi) Purchase and Sale Agreement, dated as of June 7, 2013 by and between [***] and Sponsor. 

  
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			44		TLA CREDIT AGREEMENT

 “Wholly Owned Opco Back-Up Servicing Agreement” shall mean the Back-Up Servicing
Agreement, to be entered into in form and substance reasonable satisfactory to the Administrative Agent, among Back-Up Servicer, Borrower, Sunrun Inc. as Sponsor and Operator, the Collateral Agent and the Other Collateral, and each replacement for
such agreement in a form and substance acceptable to the Administrative Agent entered into with a replacement back-up servicer in accordance with the terms and conditions hereof and the Wholly Owned Back-Up Servicing Agreement (from and following
the date that such agreement becomes effective). 
 “Wholly Owned Limited Liability Company Agreement” shall mean the
respective limited liability company agreement or operating agreement of each Wholly Owned Opco. 
 “Wholly Owned Opcos”
means the Owner Companies and the Tenant Companies. 
 “Wholly Owned Opco Representations” means the representations set
forth in Part 2 of Annex B. 
 “Working Capital Facility” has the meaning given in the definition of “Facility”.

 “Working Capital Lender” shall mean a Lender with a Working Capital Loan Commitment, which as of the Closing Date is as
set forth on Schedule 2.01. 
 “Working Capital Loan” has the meaning set forth in Section 2.03(a)
of the Agreement. 
 “Working Capital Loan Commitment” shall mean, as to each Working Capital Lender, its obligation to
make a Working Capital Loan to the Borrower pursuant to Section 2.03 in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the
Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement; provided, that the aggregate principal amount of the Working
Capital Lenders’ Working Capital Loan Commitments shall not exceed $5,000,000. 
 “Working Capital Loan Commitment
Fee” shall mean an amount equal to the product of 1.0% per annum and the average undrawn Working Capital Loan Commitment (regardless of whether any conditions for drawing could then be met and determined as of the close of business on
any date of determination), for each day from the Closing Date through the Maturity Date. 
 Section 1.02 Rules of
Construction. Unless the context otherwise requires: 
 (a) a term has the meaning assigned to it; 

  
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			45		TLA CREDIT AGREEMENT

 (b) an accounting term not otherwise defined herein and accounting terms partly defined herein,
to the extent not defined, shall have the respective meanings given to them under GAAP as in effect from time to time; 
 (c)
“or” is not exclusive; 
 (d) “including” shall mean including without limitation; 

(e) words in the singular include the plural and words in the plural include the singular; 

(f) all references to “$” are to United States dollars unless otherwise stated; 

(g) any agreement, instrument or statute defined or referred to in this Agreement or in any instrument or certificate delivered in connection
herewith means such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein;
references to a Person are also to its successors and permitted assigns; and 
 (h) the words “hereof”, “herein” and
“hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless
otherwise specified. 
 Section 1.03 Time of Day. Unless otherwise specified, all references herein to times of day shall
be references to Eastern time (daylight or standard, as applicable). 
 Section 1.04 Class of Loan. For purposes of this
Agreement, Loans may be classified and referred to by class (“Class”). The “Class” of a Loan refers to whether such Loan is a Term Loan, Working Capital Loan or an LC Loan and, when used in reference to any Commitment,
refers to whether such Commitment is a Term Loan Commitment, a LC Loan Commitment or an Working Capital Loan Commitment. 
 ARTICLE II

 THE LOANS 

Section 2.01 The Initial Term Loans.

(a) Subject to the terms and conditions set forth herein, each Term Lender agrees severally, and not jointly, to make a single Initial Term
Loan to the Borrower on the Closing Date in a principal amount equal to its Initial Term Loan Commitment. In no event shall the aggregate principal amount of the Initial Term Loans outstanding on the Closing Date exceed the total aggregate Initial
Term Loan Commitments of all Term Lenders. Each Term Lender’s Initial Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to any funding of such Term Lender’s Initial Term
Loan Commitment on such date. 

  
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			46		TLA CREDIT AGREEMENT

 (b) The Borrower may only make one borrowing under the Initial Term Loan Commitments, which
shall be on the Closing Date. The Borrower shall deliver a Borrowing Notice to the Administrative Agent no later than 10:00 a.m. at least three (3) Business Days in advance of the Closing Date (or such shorter timeframe as may be agreed by the
Administrative Agent in its sole discretion). The Borrowing Notice shall be irrevocable, shall be signed by and Authorized Officer of the Borrower and shall specify the following information in compliance with this Section 2.01: 

(i) the aggregate amount of the requested Term Loan; 

(ii) the proposed Closing Date, which shall be a Business Day; 

(iii) the account(s) to which the proceeds of such Term Loan are to be disbursed (if applicable). 

(c) The Borrower shall use the proceeds of the Initial Term Loan borrowed under this Section 2.01 solely (i) to consummate
the Distribution and Contribution Transactions under Omnibus Distribution and Contribution Agreement and pay-off the Indebtedness under the Existing Backleverage Facilities, (ii) except to the extent funded with a Letter of Credit, to fund the
Debt Service Reserve Account in an amount equal to the Required Debt Service Reserve Amount, (iii) to pay fees due pursuant to each Fee Letter and the Loan Documents and costs and expenses incurred pursuant to the Loan Documents or otherwise in
connection with this financing, (iv) for the general corporate purposes of the Relevant Parties and a distribution to the Sponsor and (v) to pay in full all existing Indebtedness of the Subsidiaries that is not Permitted Indebtedness, in
each case, consistent with the Closing Date Funds Flow Memorandum. 
 (d) Subject to the terms and conditions set forth herein (including
the prior satisfaction or waiver of the applicable conditions precedent under ARTICLE X), each Term Lender shall make the amount of its Initial Term Loan available to the Administrative Agent (or if directed by the Administrative Agent, the
Depository Bank, pursuant to the Closing Date Funds Flow Memorandum) not later than 11:00 a.m. (New York City time) on the Closing Date by wire transfer of same day funds, in Dollars to the account specified in the Closing Date Funds Flow
Memorandum. Except as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, the Administrative Agent shall, in accordance with the Closing Date Funds Flow Memorandum, make the proceeds of such Initial Term Loans
available to the Borrower on the Closing Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Initial Term Loans received into such account from the Term Lenders by 11:00 a.m. (New York City time) on the Closing
Date to be credited to the account of the Borrower designated in the Borrowing Notice delivered pursuant to Section 2.01(b). Amounts borrowed under this Section 2.01 and subsequently repaid or prepaid may not be reborrowed.

  
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			47		TLA CREDIT AGREEMENT

 Section 2.02 Delayed Draw Term Loans.

(a) No more than once a month during the Availability Period, the Borrower may request a Delayed Draw Term Loan in respect of a Project Pool
in an aggregate amount not to exceed the total aggregate Delayed Draw Commitment of all Term Lenders by submitting a Borrowing Notice to the Administrative Agent in accordance with Section 2.02(c). Subject to the terms and conditions set
forth herein, each Term Lender agrees severally, and not jointly, to make such Delayed Draw Term Loan to the Borrower in an aggregate principal amount not to exceed its Delayed Draw Commitment. Any Delayed Draw Term Loan made under this
Section 2.02 shall be made by the Term Lenders ratably in proportion to their respective share of the aggregate Delayed Draw Commitments; provided that (i) the disbursement of such Delayed Draw Term Loans shall not result in the
aggregate principal amount of the Delayed Draw Term Loans borrowed under this Section 2.02 exceeding the total aggregate Delayed Draw Commitments of all Term Lenders on the date of such borrowing and (ii) the disbursement of such
Delayed Draw Term Loans on any Subsequent Advance Date shall not result in the aggregate principal outstanding under the Term Loans exceeding the maximum principal amount that would permit compliance with the Debt Sizing Parameters under the revised
Base Case Model delivered pursuant to Section 10.02(c). Each Term Lender’s Delayed Draw Commitment shall expire on the last day of the Availability Period after giving effect to any funding of such Term Lender’s Delayed Draw
Commitment on such date. 
 (b) Notwithstanding any provision to the contrary, the terms of the Delayed Draw Term Loans to be made
hereunder on any Subsequent Advance Date shall be the same as the terms of the Initial Term Loans and other Delayed Draw Term Loans outstanding at such time and such Delayed Draw Term Loans shall be “Term Loans” for all purposes of this
Agreement and shall constitute one tranche with, and be the same Class as, the Initial Term Loans made on the Closing Date pursuant to Section 2.01 and any other Delayed Draw Term Loans made on a Subsequent Advance Date pursuant to this
Section 2.02. 
 (c) The Borrower shall deliver a Borrowing Notice to the Administrative Agent no later than 10:00 a.m. (New
York City time) at least three (3) Business Days in advance of the proposed funding date. Each such Borrowing Notice shall be irrevocable, shall be signed by and Authorized Officer of the Borrower and shall specify the following information in
compliance with this Section 2.02: 
 (i) the aggregate amount of the requested Delayed Draw Term Loan, which
shall be in an aggregate minimum amount of $2,500,000 and integral multiples of $100,000 in excess of that amount or the amount of the outstanding Delayed Draw Commitment; 

(ii) the applicable funding date of such Term Loan (a “Subsequent Advance Date”), which shall be a Business
Day; and 
 (iii) the account(s) to which the proceeds of such Term Loan are to be disbursed (if applicable). 

(d) Provided the Administrative Agent shall have received the applicable Borrowing Notice by no later than 10:00 a.m. (New York City time) on
a Business 

  
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			48		TLA CREDIT AGREEMENT

 
Day, the Administrative Agent shall advise each Term Lender of its pro rata share of the applicable Delayed Draw Term Loan (determined as the percentage which such Term Lender’s Delayed Draw
Commitment then constitutes of the aggregate Delayed Draw Commitments) no later than 2:00 p.m. (New York City time) on the Business Day immediately following the Administrative Agent’s receipt of such Borrowing Notice. 

(e) The Borrower shall use the proceeds of the Delayed Draw Term Loans borrowed under this Section 2.02 solely (i) to pay a
distribution to the Sponsor in reimbursement of the Sponsor for capital costs associated with the deployment of the applicable Project Pool, (ii) to fund the Debt Service Reserve Account in an amount equal to the Required Debt Service Reserve
Amount, (iii) to pay the fees due pursuant to each Fee Letter and the Loan Documents and costs and expenses incurred pursuant to the Loan Documents or otherwise in connection with this financing and (iv) for the general corporate purposes
of the Relevant Parties. 
 (f) Subject to the terms and conditions set forth herein (including the prior satisfaction or waiver of the
applicable conditions precedent under ARTICLE X), each Term Lender shall make the amount of its Term Loan available to the Administrative Agent (or such Person or account directed by the Administrative Agent) not later than 11:00 a.m. (New York City
time) on the applicable funding date by wire transfer of same day funds, in Dollars to such account specified by the Administrative Agent (which may include the Funding Account). Except as provided herein, upon satisfaction or waiver of the
conditions precedent specified herein, the Administrative Agent shall make the proceeds of such Term Loans available to the Borrower on the applicable funding date by causing an amount of same day funds in Dollars equal to the proceeds of all such
Term Loans received into such account from the Term Lenders by 11:00 a.m. (New York City time) on such date to be credited to the account of the Borrower designated in the Borrowing Notice delivered pursuant to Section 2.02(c). Amounts
borrowed under this Section 2.02 and repaid or prepaid may not be reborrowed. 
 Section 2.03 Working Capital
Loans. (a) Following the Closing Date, but prior to the Maturity Date, the Borrower may request a loan (a “Working Capital Loan”) in an aggregate amount not to exceed the total aggregate Working Capital Loan Commitment of
all Working Capital Lenders by submitting a Borrowing Notice to the Administrative Agent in accordance with Section 2.03(b). Subject to the terms and conditions set forth herein, each Working Capital Lender agrees severally, and not
jointly, to make such Working Capital Loan to the Borrower in an aggregate principal amount not to exceed its Working Capital Loan Commitment. Any Working Capital Loan made under this Section 2.03 shall be made by the Working Capital
Lenders ratably in proportion to their respective share of the aggregate Working Capital Commitments; provided that the disbursement of such Working Capital Loans shall not result in the aggregate principal amount of the Working Capital Loans
borrowed under this Section 2.03 exceeding the total aggregate Working Capital Loan Commitments of all Working Capital Lenders on the date of such borrowing. Each Working Capital Lender’s Working Capital Loan Commitment shall expire
on the Maturity Date. 
 (b) The Borrower shall deliver a Borrowing Notice to the Administrative Agent for its approval (acting on the
instructions of the Required Lenders) no 

  
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			49		TLA CREDIT AGREEMENT

 
later than 10:00 a.m. (New York City time) at least five (5) Business Days in advance of the proposed funding date. Each such Borrowing Notice shall be signed by and Authorized Officer of
the Borrower and shall specify the following information in compliance with this Section 2.03: 
 (i) the proposed use
of the proceeds of such Working Capital Loan; 
 (ii) the aggregate amount of the requested Working Capital Loan, which
shall be in an aggregate minimum amount of $100,000 and integral multiples of $100,000 in excess of that amount or the amount of the outstanding Working Capital Loan Commitment; 

(iii) the applicable funding date of such Working Capital Loan, which shall be a Business Day; and 

(iv) the account(s) to which the proceeds of such Working Capital Loan are to be disbursed (if applicable). 

(c) Provided that (i) the proposed use of the proceeds of the Working Capital Loan have been approved by the Administrative Agent
(acting on the instructions of the Required Lenders) in accordance with Section 2.03(d) and (ii) the Administrative Agent shall have received the applicable Borrowing Notice by no later than 10:00 a.m. (New York City time) on a
Business Day, the Administrative Agent shall advise each Working Capital Lender of its pro rata share of the applicable Working Capital Loan (determined as the percentage which such Working Capital Lender’s Working Capital Loan Commitment then
constitutes of the aggregate Working Capital Loan Commitments) no later than 2:00 p.m. (New York City time) on the Business Day immediately following the Administrative Agent’s receipt of such Borrowing Notice. 

(d) The Borrower shall use the proceeds of the Working Capital Loans borrowed under this Section 2.03 only for lawful purposes
that have been approved in writing by the Administrative Agent (acting on the instructions of the Required Lenders). Once a Borrowing Notice in respect of a Working Capital Loan has been approved by the Administrative Agent in writing it shall be
irrevocable. 
 (e) Subject to the terms and conditions set forth herein (including the prior satisfaction or waiver of the applicable
conditions precedent under ARTICLE X), each Working Capital Lender shall make the amount of its Working Capital Loan available to the Borrower not later than 11:00 a.m. (New York time) on the applicable funding date by wire transfer of same day
funds, in Dollars to be credited to the Flip Reserve Account. Amounts borrowed under this Section 2.03 may be prepaid and reborrowed. 

  
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			50		TLA CREDIT AGREEMENT

 Section 2.04 Letters of Credit.

(a) Issuance. 

(i) Subject to and upon the terms and conditions set forth herein, the Borrower may request the issuance of, and the Issuing
Bank hereby agrees to issue Letters of Credit, for the Borrower’s account, at any time during the LC Availability Period solely for the purposes of satisfying the Required Debt Service Reserve Amount (and the Issuing Bank shall refuse to issue
a Letter of Credit for any other purpose). Letters of Credit issued hereunder shall constitute utilization of the total aggregate LC Commitment and at any time the LC Exposure of all LC Lenders at such time shall not exceed the total aggregate LC
Commitment of all LC Lenders. The Issuing Bank will make available to the beneficiary thereof the original of the Letter of Credit issued by it hereunder. 

(ii) Immediately upon the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof)
by the Issuing Bank and without any further action on the part of the Issuing Bank or the LC Lenders, each LC Lender shall be deemed to have purchased, and hereby agrees to irrevocably purchase, from the Issuing Bank a participation in such Letter
of Credit and any drawings honored thereunder in an amount equal to such LC Lender’s pro rata share (determined as the percentage which such LC Lender’s LC Commitment then constitutes of the aggregate LC Commitments) of the Stated Amount
under such Letter of Credit. 
 (iii) Each Letter of Credit (A) shall be denominated in Dollars, (B) expire no
later than the earlier of (x) the 7th anniversary of its date of issuance and (y) the Maturity Date and (B) be issued subject to “Uniform Customs and Practice for Documentary
Credits” (2007 Revision), International Chamber of Commerce, Publication No. 600 or “International Standby Practices 1998”, International Chamber of Commerce, Publication No. 590, as mutually agreed between the Borrower, the
Administrative Agent and the applicable Issuing Bank. 
 (b) Notice of LC Activity. 

(i) Subject to Section 2.04(d), the Borrower may request (A) the issuance or extension of any Letter of
Credit and (B) any decrease or increase in the Stated Amount thereof by delivering to the Administrative Agent and the Issuing Bank an irrevocable written notice in the form of Exhibit C-2, appropriately completed (a “Notice
of LC Activity”), which shall specify, among other things: the particulars of the Letter of Credit to be issued, extended or amended, including the (1) the proposed issuance, extension or amendment date of the requested Letter of
Credit (which shall be a Business Day); (2) the requested Stated Amount of the Letter of Credit or the amount by which such Stated Amount is to be decreased or increased (as applicable), (3) the expiry date thereof; (4) the name and
address of the beneficiary thereof; (5) the documents to be presented by such beneficiary in case of any drawing thereunder; (6) the full text of any certificate to be presented by such beneficiary in case of any drawing

  
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			51		TLA CREDIT AGREEMENT

 
thereunder; and (7) and, in the case of an amendment, the Letter of Credit to be amended, the nature of the amendment and the written confirmation of the beneficiary of such Letter of Credit
confirming a decrease or increase in the Stated Amount of such Letter of Credit; provided, however, that in no instance may any request for a Letter of Credit or the increase in the Stated Amount of a Letter of Credit cause the LC
Exposure of all LC Lenders to exceed the total aggregate LC Commitment. The Borrower shall deliver the Notice of LC Activity to the Administrative Agent (with a copy to the Issuing Bank) by 11:00 a.m. at least five (5) Business Days before the
date of issuance, extension, increase or decrease of the Stated Amount of the Letter of Credit. Additionally, the Borrower shall furnish to the applicable Issuing Bank and the Administrative Agent such other documents and information pertaining to
such requested Letter of Credit issuance, extension or amendment, including any LC Documents, as such Issuing Bank or the Administrative Agent may reasonably require. 

(ii) Promptly after receipt of any LC Application, the applicable Issuing Bank will confirm with the Administrative Agent that
the Administrative Agent has received a copy of such LC Application from the Borrower and, if not, such Issuing Bank will provide the Administrative Agent with a copy thereof. Upon receipt by such Issuing Bank of confirmation from the Administrative
Agent that the requested issuance or amendment is permitted in accordance with the terms hereof, then, upon (x) the amendment date, in the case of a requested increase or decrease of the Stated Amount under a Letter of Credit, or (y) the
date specified as being the date requested for issuance or extension, in the case of the issuance or extension of a Letter of Credit, in each case as the applicable date is specified in such Notice of LC Activity, subject to the terms and conditions
set forth in this Agreement (including Section 2.04(d) and the applicable conditions precedent set forth in Section 10.04), the Issuing Bank shall, by amendment to the Letter of Credit, adjust the Stated Amount thereof
downward or upward, as applicable, to reflect the decrease or increase, as applicable, or issue or extend the Letter of Credit, in each case as specified in such Notice of LC Activity. Upon the issuance of any Letter of Credit by the Issuing Bank or
amendment or modification to a Letter of Credit, (1) the Issuing Bank shall promptly notify the Administrative Agent of such issuance, extension or amendment and (2) the Administrative Agent shall then promptly notify each applicable LC
Lender of such issuance, extension or amendment and each such notice shall be accompanied by a copy of such Letter of Credit or amendment or modification to a Letter of Credit and the amount of each applicable LC Lender’s respective
participation in such Letter of Credit. 
 (c) Drawing Payment, Funding of Participations, Funding LC Loans and Reimbursement. 

(i) The Issuing Bank shall, within a reasonable time following its receipt thereof, examine all documents purporting to
represent a demand for payment under a Letter of Credit so as to ascertain whether such documents 

  
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			52		TLA CREDIT AGREEMENT

 
appear on their face to be in accordance with the terms and conditions of such Letter of Credit. Any Drawing Payment with respect to a Letter of Credit shall reduce the Stated Amount thereof
dollar for dollar. As between Borrower and Issuing Bank, Borrower assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by Issuing Bank, by the respective beneficiaries of such Letters of Credit. In furtherance
and not in limitation of the foregoing, Issuing Bank shall not be responsible for: (i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for and
issuance of any such Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring or assigning or
purporting to transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (iii) failure of the beneficiary of any such
Letter of Credit to comply fully with any conditions required in order to draw upon such Letter of Credit; (iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or
otherwise, whether or not they be in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any such Letter of Credit or of
the proceeds thereof; (vii) the misapplication by the beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or (viii) any consequences arising from causes beyond the control of Issuing Bank,
including any acts or omissions by any Governmental Authority; none of the above shall affect or impair, or prevent the vesting of, any of Issuing Bank’s rights or powers hereunder. Without limiting the foregoing and in furtherance thereof, any
action taken or omitted by Issuing Bank under or in connection with the Letters of Credit or any documents and certificates delivered thereunder, if taken or omitted in good faith, shall not give rise to any liability on the part of Issuing Bank to
Borrower. Notwithstanding anything to the contrary contained in this Section 2.04(c)(i), Borrower shall retain any and all rights it may have against Issuing Bank for any liability arising solely out of the gross negligence or willful
misconduct of Issuing Bank as determined by a final, non-appealable judgment of a court of competent jurisdiction. 
 (ii)
If the Issuing Bank shall make any Drawing Payment, it shall provide notice thereof to the Borrower and the Administrative Agent by telephone (confirmed telecopy) (provided that the failure to deliver such notice shall not relieve Borrower of
its obligation to reimburse the Issuing Bank in accordance with this Agreement), that such Drawing Payment has been made and the Borrower shall reimburse the Issuing Bank in respect of such Drawing Payment by paying to the Administrative Agent an
amount equal to such Drawing Payment and any interest accrued pursuant to Section 2.04(g) not later than 11:00 a.m., on the Business Day (the “Reimbursement Date”) that is one Business Day following the date on which the
Drawing Payment is made; provided, anything 

  
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			53		TLA CREDIT AGREEMENT

 
contained herein to the contrary notwithstanding, unless Borrower shall have notified Administrative Agent and the Issuing Bank prior to 12:00 p.m. (New York City time) on the date such Drawing
Payment is made that Borrower intends to reimburse the Issuing Bank for the amount of such Drawing Payment with funds other than the proceeds of LC Loans, Borrower shall be deemed to have requested on the date that such Drawing Payment is made that
its obligation to reimburse such Drawing Payment be financed by the LC Lenders through a borrowing of LC Loans on the Reimbursement Date in an amount in Dollars equal to the amount of such Drawing Payment and, subject to no Event of Default having
occurred, each LC Lender shall, on the Reimbursement Date with respect to such Drawing Payment make loans (“LC Loans”) ratably (based on the percentage which such LC Lender’s LC Commitment then constitutes of the total
aggregate LC Commitments) in an aggregate amount equal to such Drawing Payment, the proceeds of which shall be applied directly by Administrative Agent to reimburse the Issuing Bank for the amount of such honored drawing; and provided
further, if for any reason proceeds of LC Loans are not received by the Issuing Bank on the date of such Drawing Payment in an amount equal to the amount of such Drawing Payment, Borrower shall reimburse the Issuing Bank, on demand, in an amount
in same day funds equal to the excess of the amount of such Drawing Payment over the aggregate amount of such applicable LC Loans, if any, which are so received. All such Loans shall be secured by the Collateral Documents as if made directly to the
Borrower. 
 (iii) Immediately upon the issuance of each Letter of Credit, each LC Lender shall be deemed to have purchased,
and hereby agrees to irrevocably purchase, from Issuing Bank a participation in such Letter of Credit and any drawings honored thereunder in an amount equal to such LC Lender’s pro rata share (determined as the percentage which such LC
Lender’s LC Commitment then constitutes of the aggregate LC Commitments) of the maximum amount which is or at any time may become available to be drawn thereunder. In the event that the Borrower shall fail for any reason to reimburse the
Issuing Bank as provided in clause (ii) above on the applicable Reimbursement Date, the (A) Issuing Bank shall promptly notify the Administrative Agent of the unreimbursed amount of such Drawing Payment with respect to a Letter of
Credit and each LC Lender’s respective participation therein and (B) then the Administrative Agent shall promptly notify each LC Lender of the unreimbursed amount of such Drawing Payment with respect to a Letter of Credit and such LC
Lender’s respective participation therein. Each LC Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such LC Lender’s pro rata share (determined as the percentage
which such LC Lender’s LC Commitment then constitutes of the aggregate LC Commitments) of each such Drawing Payment on a Letter of Credit within one Business Day after receiving notice. Each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. In the event that any LC Lender fails to make available to Issuing Bank on such 

  
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			54		TLA CREDIT AGREEMENT

 
business day the amount of such LC Lender’s participation in such Letter of Credit as provided in this Section 2.04(c)(iii), Issuing Bank shall be entitled to recover such amount
on demand from such Lender together with interest thereon for three Business Days at the rate customarily used by Issuing Bank for the correction of errors among banks and thereafter at LIBOR. Nothing in this Section 2.04(c)(iii) shall
be deemed to prejudice the right of any LC Lender to recover from Issuing Bank any amounts made available by such LC Lender to Issuing Bank pursuant to this Section 2.04(c)(iii) in the event that the payment with respect to a Letter of
Credit in respect of which payment was made by such LC Lender constituted gross negligence or willful misconduct on the part of Issuing Bank. In the event Issuing Bank shall have been reimbursed by other LC Lenders pursuant to this
Section 2.04(c)(iii) for all or any portion of any drawing honored by Issuing Bank under a Letter of Credit, such Issuing Bank shall distribute to each LC Lender which has paid all amounts payable by it under this
Section 2.04(c)(iii) with respect to such honored drawing such LC Lender’s pro rata share (determined as the percentage which such LC Lender’s participation in the reimbursed Drawing Payment then constitutes of the aggregate
reimbursed Drawing Payment) of all payments subsequently received by Issuing Bank from Borrower in reimbursement of such honored drawing when such payments are received. Any such distribution shall be made to an LC Lender at its primary address set
forth below its name on Appendix B or at such other address as such Lender may request. 
 In the event the Issuing Bank shall have been reimbursed by the
applicable LC Lenders pursuant to this Section 2.04(c)(iii) for all or any portion of any Drawing Payment, the Issuing Bank shall distribute to each applicable LC Lender which has paid all amounts payable by it under this
Section 2.04(c)(iii) such LC Lender’s pro rata share (determined as the percentage which such LC Lender’s participation in the reimbursed Drawing Payment then constitutes of the aggregate reimbursed Drawing Payment) of all
payments subsequently received by the Issuing Bank from Borrower in reimbursement of such applicable Drawing Payment when such payments are received. 

(d) Other Reductions of Stated Amount; Cancellation or Return. 

(i) The Borrower may, from time to time upon five (5) Business Days’ notice and the delivery of a Notice of LC
Activity pursuant to clause (b) above to the Administrative Agent, the Issuing Bank and the LC Lenders, (1) permanently reduce the total aggregate LC Commitment or (2) the Stated Amount of any Letter of Credit, in each case by
the amount of $50,000, or an integral multiple thereof, or, the Borrower may, from time to time upon five (5) Business Days’ prior notice to the Administrative Agent, the Issuing Bank and the LC Lenders, cancel any Letter of Credit in its
entirety; provided, however, that (x) so long as any Obligations remain outstanding, the Administrative Agent shall be satisfied that no reduction or cancellation would result in the amounts available under the Debt Service
Reserve Account being less than the Required Debt Service Reserve Amount at such time or cause a violation of any provision of this 

  
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			55		TLA CREDIT AGREEMENT

 
Agreement or a breach of any provision of any other Loan Document and (y) in respect of a reduction or cancelation of an issued Letter of Credit, the Administrative Agent shall have received
written notice from the applicable beneficiary of such Letter of Credit, confirming such reduction or cancellation. The total aggregate LC Commitment shall not be reduced if the effect thereof would be to cause the LC Exposure of all LC Lenders to
exceed the total aggregate LC Commitment. Upon the expiration or cancelation of a Letter of Credit, the Stated Amount in respect of such Letter of Credit shall be permanently reduced to zero. 

(ii) Once reduced or cancelled solely pursuant to clause (i) above, the total aggregate LC Commitment may not be
increased. 
 (iii) Any reductions to the total aggregate LC Commitment shall be applied ratably to each applicable LC
Lender’s Commitment. 
 (iv) The Letters of Credit shall expire on their respective Expiration Dates, or on such
earlier date if canceled pursuant to the terms of the Agreement or the applicable Letter of Credit. 
 (e) Commercial Practices;
Obligations Absolute. The Borrower assumes all risks of the acts or omissions of beneficiary or transferee of any Letter of Credit with respect to the use of such Letter of Credit. The obligations of the Borrower to reimburse the Issuing Bank
for any Drawing Payments and to repay any Loans made by the applicable LC Lenders pursuant to Section 2.04(c) and the obligations of the applicable LC Lenders under Section 2.04(c) shall be unconditional and irrevocable and
shall be paid strictly in accordance with the terms hereof under all circumstances regardless of: (i) the use which may be made of the Letters of Credit or for any acts or omissions of any beneficiary or transferee in connection therewith;
(ii) any reference which may be made to the Agreement or to the Letters of Credit in any agreements, instruments or other documents; (iii) the validity, sufficiency or genuineness of documents (including the Agreement) other than the
Letters of Credit, or of any endorsement(s) thereon, which appear on their face to be valid, sufficient or genuine, as the case may be, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or
forged or any statement therein prove to be untrue or inaccurate in any respect whatsoever; (iv) payment by the Issuing Bank against presentation of documents which do not strictly comply with the terms of the Letters of Credit, including
failure of any documents to bear any reference or adequate reference to such Letters of Credit so long as such documents substantially comply with the terms of the Letter of Credit; (v) any amendment or waiver of or any consent to departure
from all or any terms of any of the Loan Documents; (vi) the existence of any claim, setoff, defense or other right which the Borrower may have at any time against any beneficiary or transferee of any Letter of Credit (or any Persons for whom
any such beneficiary or transferee may be acting), the Administrative Agent, the Issuing Bank, any Lender or any other Person, whether in connection with the Agreement, the transactions contemplated herein or in the other Loan Documents, or in any
unrelated transaction; (vii) any breach of contract or dispute among or between the Borrower, the Administrative Agent, the Issuing Bank, any Lender, or any other Person; (viii) any demand, statement, certificate, draft or other document
presented under the 

  
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			56		TLA CREDIT AGREEMENT

 
Letters of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (ix) any extension of time for
or delay, renewal or compromise of or other indulgence or modification to a Drawing Payment or a Loan granted or agreed to by the Administrative Agent, the Issuing Bank, or any applicable Lender in accordance with the terms of the Agreement;
(x) any failure to preserve or protect any Collateral, any failure to perfect or preserve the perfection of any Lien thereon, or the release of any of the Collateral securing the performance or observance of the terms of this the Agreement or
any of the other Loan Documents; or (xi) any other circumstances whatsoever in making or failing to make payment under the Letters of Credit, except that, in each case, payment by Issuing Bank under the applicable Letter of Credit shall not
have constituted gross negligence or willful misconduct of Issuing Bank under the circumstances in question as determined by a final, non-appealable judgment of a court of competent jurisdiction. 

(f) Indemnification. Without duplication of any obligation of Borrower under Section 5.06, in addition to amounts payable
as provided herein, Borrower hereby agrees to protect, indemnify, pay and save harmless Issuing Bank from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable fees, expenses and
disbursements of counsel) which Issuing Bank may incur or be subject to as a consequence, direct or indirect, of (i) the issuance of any Letter of Credit by Issuing Bank, other than as a result of (1) the gross negligence or willful
misconduct of Issuing Bank as determined by a final, non-appealable judgment of a court of competent jurisdiction or (2) the wrongful dishonor by Issuing Bank of a proper demand for payment made under any Letter of Credit issued by it, or
(ii) the failure of Issuing Bank to honor a drawing under any such Letter of Credit as a result of any act or omission by any Governmental Authority. 

(g) Interim Interest. If the Issuing Bank shall make any Drawing Payment, then, unless Borrower shall reimburse such Drawing Payment
in full on the date such Drawing Payment is made, the unpaid amount thereof shall bear interest, for each day from and including the date such Drawing Payment is made to but excluding the date that the Borrower reimburses such Drawing Payment in
full, at a rate equal to LIBOR, in effect from time to time, plus the Applicable Margin; provided that, if Borrower fails to reimburse such Drawing Payment on the Reimbursement Date applicable thereto pursuant to
Section 2.04(c)(ii) through the conversion to an LC Loan, or otherwise, then such overdue amount shall bear interest (after as well as before judgment) at a rate equal to the LIBOR, in effect from time to time, plus the Applicable
Margin, plus 2% per annum. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank. 

Section 2.05 Computation of Interest and Fees. All computations of interest shall be made on the basis of a year of 360 days
and actual days elapsed. Interest shall accrue on each Loan at an interest rate per annum equal to the Standard Rate from the day on which the Loan is made until, but not including the day on which the Loan is paid, provided that any Loan
that is repaid on the same day on which it is made shall, subject to Section 5.01(b), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all
purposes, absent manifest error. 

  
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			57		TLA CREDIT AGREEMENT

 Section 2.06 Evidence of Debt. The Loans made by each Lender shall be evidenced
by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error
of the amount of the Loans made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any
amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the
Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a promissory note
substantially in the form of Exhibit H-1 (in the case of a Term Loan), Exhibit H-2 (in the case of a Working Capital Loan) and Exhibit H-3 (in the case of a LC Loan), (each, a “Note”), which shall evidence such
Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 

ARTICLE III 
 INCREASE OF
LOAN FACILITIES 
 Section 3.01 Request for Increase. The Borrower may seek expressions of interest from the Lenders
to provide on a pro rata basis new Delayed Draw Commitments (each an “Incremental Loan Commitment”) from time to time by delivery of an updated Base Case Model (in accordance with Section 3.03(b)) and written notice to
the Administrative Agent (such notice, an “Incremental Loan Commitment Increase Notice”); provided, that: 

(i) any request for an Incremental Loan Commitment shall be in a minimum principal amount of $10,000,000 and a maximum
principal amount equal to the lesser of (A) an amount that would result in the updated Base Case Model showing pro forma compliance with the Debt Sizing Parameters and (B) $75,000,000; provided, that the amount of any Incremental
Loan Commitment approved by the Lenders shall be determined by each of them in their sole discretion; 
 (ii) no request for
an Incremental Loan Commitment may be made after the end of the Availability Period; 
 (iii) the Borrower shall provide to
the Administrative Agent such information that is reasonably requested by the Administrative Agent or any Lender to evaluate the request for an Incremental Loan Commitment; 

(iv) on the date of any request by the Borrower for an Incremental Loan Commitment, the conditions set forth in
Section 3.03(a), (b), (c) and (d) shall have been satisfied. 

  
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			58		TLA CREDIT AGREEMENT

 An Incremental Loan Commitment Increase Notice shall set out (A) the amount of the Incremental Loan
Commitment requested, (B) the date on which such Incremental Loan Commitments are requested to be effective (each an “Incremental Loan Increase Date”), which shall not be less than sixty (60) days nor more than one hundred
and twenty (120) days after the date of such notice and (C) the requested maturity date, upfront fees, margin, commitment fees and other terms applicable in respect of such Incremental Loan Commitment and the Delayed Draw Term Loans
contemplated to be made in respect of such Incremental Loan Commitment. 
 Section 3.02 Lender Expressions of
Interest. Upon receipt of an Incremental Loan Commitment Increase Notice pursuant to Section 3.01, the Lenders shall have thirty (30) days to provide expressions of interest in participating in a requested Incremental Loan
Commitment by delivering to the Administrative Agent an expression of interest (each, an “Incremental Loan Expression of Interest”). No Incremental Loan Expression of Interest shall be construed to be a commitment or offer to lend
money or otherwise extend, arrange or underwrite credit and any such commitment is expressly subject to the receipt of final credit approvals, satisfactory due diligence, finalization of satisfactory definitive documentation as may be required by
the Lenders and the Issuing Bank in connection with the Incremental Loan Commitment, including in respect of this Agreement and the Cash Diversion Guaranty (the “Incremental Loan Amendment Documentation”) and other conditions
precedent required by all the Lenders and the Issuing Bank in their sole discretion, including those set out in Section 3.03 below and in the Incremental Loan Amendment Documentation. Each Lender and the Issuing Bank reserves the right
in its sole discretion to determine, for any reason, not to participate in the Incremental Loan Commitment and any agreement to include an Incremental Loan Commitment under this Agreement shall be subject to the consent of all Lenders and the
Issuing Bank (including non-participating Lender Parties) which may be given in their sole discretion. 
 Section 3.03 Conditions
to Effectiveness of Increase. Without limitation to any other conditions as may be required by the Lenders in their sole discretion under the Incremental Loan Amendment Documentation, any Incremental Loan Commitment would be subject to the
occurrence of the Closing Date and the satisfaction of each of the following conditions on such Incremental Loan Increase Date in a manner satisfactory to the Administrative Agent (acting on the instructions of all Lenders and the Issuing Bank, and
unless waived in writing by the Administrative Agent with the consent of all Lenders and the Issuing Bank): 
 (a) no Default or Event of
Default shall have occurred and be continuing; 
 (b) immediately before and after giving effect to the Incremental Loan Commitment, the
Borrower is or would be in pro forma compliance with the Debt Sizing Parameters, as evidenced by delivery of an updated Base Case Model incorporating proposed new Relevant Parties and assuming the Incremental Loan Commitment is fully drawn pursuant
to an agreed disbursement schedule; 

  
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			59		TLA CREDIT AGREEMENT

 (c) the Borrower shall have provided true and complete copies of all Portfolio Documents
associated with any proposed new Relevant Parties; 
 (d) no Distribution Trap is then in effect; 

(e) executed counterparts of the Incremental Loan Amendment Documentation and any other Transaction Documents and amendments to the existing
Transaction required in connection with such Incremental Loan Commitment; 
 (f) favorable opinions in connection with the Incremental Loan
Amendment Documentation and the Incremental Loan Commitment; 
 (g) the Lenders shall have completed their due diligence in respect of the
proposed new Relevant Parties, their Portfolio Documents and the Incremental Loan Commitment and shall have received final credit committee approvals with respect to such Incremental Loan Commitment; 

(h) since the Closing Date, no Material Adverse Effect shall have occurred or be continuing; 

(i) the representations and warranties set forth in Article VI and in each other Loan Document (including the Incremental Loan
Amendment Documentation) shall be true and correct in all material respects as of the Incremental Loan Increase Date (unless such representation or warranty relates solely to an earlier date, in which case it shall have been true and correct in all
material respects as of such earlier date); 
 (j) the Administrative Agent shall have received a duly executed Incremental Loan Commitment
Increase Notice and any fee letters entered into in connection with such Incremental Loan Commitment; 
 (k) the Administrative Agent shall
have received for its own account, and for the account of each Incremental Loan Lender entitled thereto, all fees due and payable as of the Incremental Loan Increase Date pursuant to any fee letter, and all costs and expenses, including costs, fees
and expenses of legal counsel, for which invoices have been presented; provided that costs, fees and expenses of legal counsel may be subject to caps as agreed to between the Borrower and the relevant party; 

(l) the Borrower shall deliver to the Administrative Agent a certificate of the Borrower dated as of the Incremental Loan Increase Date
signed by an Authorized Officer of the Borrower certifying that each of the conditions set forth in this Section 3.03 (and such other conditions as are required by the Lenders pursuant to the Incremental Loan Amendment Documentation) have
been met as of the Incremental Loan Increase Date; 
 (m) The Lender Parties have received all documentation and other information required
by regulatory authorities under the applicable “know your customer” and Anti-Money Laundering Laws, including the PATRIOT Act, to be delivered to financial institutions in connection with a transaction such as those contemplated by the
Incremental Loan Amendment Documentation; and 
 (n) all the lenders under the Other Credit Agreement have provided their express written
consent to the terms of the Incremental Loan Amendment Documentation and the incurrence of the Incremental Loan Commitment by the Borrower. 

Section 3.04 Amendment of the Loan Documents. The Incremental Loan Amendment Documentation and any other Transaction
Documents and amendments to the existing Transaction Documents shall be in a form and substance satisfactory to each Lender. 

  
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			60		TLA CREDIT AGREEMENT

 ARTICLE IV 

ACCOUNTS AND RESERVES 

Section 4.01 Deposits to Collections Account.

(a) The Borrower shall cause the Manager to transfer any Collections consisting of checks representing recurring payments to a Tenant Company
into the applicable Tenant Company Deposit Account no later than the third (3rd) Business Day following receipt; provided, that if a Customer payment is unable to be identified through no
fault of the Manager exercising commercially reasonable efforts, such check shall be deposited with the applicable Tenant Company Deposit Account, no later than three (3) Business Days following the identification of such Customer payment. 

(b) The Borrower shall cause the Manager to deposit any Collections consisting of non-recurring Customer ACH or credit card payments into a
General Account. The Borrower shall cause the Manager to use commercially reasonable efforts to identify the payor of any non-recurring Customer ACH or credit card payments as soon as reasonably practicable and shall cause all payments that have
been identified as being payable to the Wholly Owned Opco to be deposited into the applicable Tenant Company Deposit Account no less frequently than twice monthly. 

(c) The Borrower shall cause the Manager to deposit any Collections consisting of recurring Customer ACH or debit card payments into the
applicable Tenant Company ACH Account upon receipt of such payments. 
 (d) The Borrower shall cause the Manager to deposit all Collections
consisting of checks representing PBI Payments received on or after the Closing Date into the applicable Tenant Company Deposit Account no later than thirty (30) days following the receipt of such checks by or on behalf of the Manager. 

  
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			61		TLA CREDIT AGREEMENT

 (e) Pursuant to standing instructions in a form reasonably acceptable to the Administrative
Agent (the “Tenant Company Standing Instructions”), the Borrower shall cause the Manager to transfer any amounts deposited into a Tenant Company Deposit Account on a daily basis into the Collections Account, subject to a maximum
retention amount of: 
 (i) $5,000, for the Tenant Company Deposit Account held by SunRun Solar Tenant I, LLC; 

(ii) $5,000, for the Tenant Company Deposit Account held by SunRun Solar Tenant II, LLC; and 

(iii) $5,000, for the Tenant Company Deposit Account held by SunRun Solar Tenant III, LLC. 

(f) The Borrower shall cause the Manager to transfer any amounts deposited into a Tenant Company ACH Account on a daily basis into the
Collections Account, subject to a maximum retention amount of: 
 (i) $5,000, for the Tenant Company ACH Account held by
SunRun Solar Tenant I, LLC; 
 (ii) $10,000, for the Tenant Company ACH Account held by SunRun Solar Tenant II, LLC; and

 (iii) $8,000, for the Tenant Company ACH Account held by SunRun Solar Tenant III, LLC. 

(g) The Borrower shall cause the Holdcos to deposit all Collections consisting of distributions in respect of the Managing Member Membership
Interests directly into the Revenue Account (other that any distributions received in respect of the proceeds of Excluded Property, as evidenced by documentation reasonably acceptable to the Administrative Agent). 

(h) The Borrower shall cause all amounts from the Collection Account to be swept into the Revenue Account on each Calculation Date (and if
such Calculation Date is not a Business Day, then on the next succeeding Business Day). 
 (i) The Borrower shall maintain the Collateral
Accounts with an Acceptable Bank, and shall cause (i) each Operator to maintain any General Account with an Acceptable Bank and (ii) the Wholly Owned Opcos to maintain all Tenant Company Deposit Accounts and Tenant Company ACH Accounts
with an Acceptable Bank. 
 ARTICLE V 

ALLOCATION OF COLLECTIONS; PAYMENTS TO LENDERS 

Section 5.01 Payments.

(a) At least three (3) Business Days prior to each Payment Date, the Borrower shall deliver, or cause Manager to deliver, to the
Administrative Agent, Collateral Agent and Depository Bank, a Transfer Date Certificate in the form attached as Exhibit B to the Depository Agreement. All withdrawals and transfers will be made based upon the information provided in the Transfer
Date Certificate. 

  
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			62		TLA CREDIT AGREEMENT

 (b) Payments Generally. All payments to be made by the Borrower shall be made free and
clear of any Liens and without restriction, condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise provided below, all payments made with respect to the Loans on each Payment Date shall be made to the
Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 12:00 p.m. on the date specified herein. The
Administrative Agent will promptly distribute to each Lender its pro rata share of the principal amount paid according to the outstanding principal amounts of the applicable Loan held by the Lenders (or other applicable share of such payment as
expressly provided herein) in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 12:00 p.m. shall be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected
in computing interest or fees, as the case may be. 
 Section 5.02 Optional Prepayments. The Borrower (or Sponsor on
Borrower’s behalf) may, upon irrevocable written notice to the Administrative Agent at any time or from time to time, voluntarily prepay Loans in whole or in part in minimum amounts of not less than $1,000,000 (or, in the case of Working
Capital Loans, such lesser amount as may be outstanding); provided that such notice must be received by the Administrative Agent not later than 11:00 a.m. five (5) Business Days (or such shorter period as is acceptable to the
Administrative Agent) prior to any date of prepayment. Each such notice shall specify the date and amount of such prepayment. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such
Lender’s pro rata share of such prepayment. Upon giving of the notice, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Loan
shall be accompanied by all accrued but unpaid interest on the principal amount prepaid. Each prepayment shall be paid to the Lenders in accordance with their respective pro rata share of the outstanding principal amount of such Loan. 

Section 5.03 Mandatory Principal Payments. The Borrower shall make the following mandatory prepayments on the Loans: 

(a) On the date of receipt thereof, the Borrower shall apply towards the mandatory prepayment of the Loans in accordance with
Section 5.04, 100% of the Net Available Amount of all proceeds in cash and cash equivalents (including any cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when
so received) to the Borrower or any other Loan Party from: 
 (i) without limitation to Article XI, the issuance or
incurrence of any Indebtedness by any Relevant Party (other than as permitted to be incurred pursuant to Section 8.01 of this Agreement); 

  
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			63		TLA CREDIT AGREEMENT

 (ii) all Loss Proceeds received in connection with any Event of Loss (other than
Loss Proceeds in respect of any Project, which shall be applied in accordance with Section 5.03(b) below); and 

(iii) the sale, assignment or other disposition of any Asset of a Relevant Party (other than (A) ordinary course sales of
power or the leasing of a photovoltaic system pursuant to the Customer Agreements, (B) PBI Payments, (C) the sale of Excluded Property or (D) a sale or assignment of an Asset that is a Customer Prepayment Event). 

(b) On each Payment Date, the Borrower shall apply towards the mandatory prepayment of the Loans in accordance with Section 5.04,
an amount determined by multiplying [***] by the present value of the reduction of future Collections resulting from or attributable to each Customer Prepayment Event occurring during the calendar quarter ending on the immediately prior Calculation
Date (disregarding any proceeds received in respect of such Customer Prepayment Event and assuming that no future Collections will be received in respect of any Event of Loss Project, Defaulted Project or a Project in respect of which an Ineligible
Customer Reassignment has occurred) discounted at a rate of [***] per annum; provided that, notwithstanding anything to the contrary herein, the Sponsor may, but shall not be required to, contribute capital to the Borrower to satisfy its
prepayment obligations under this clause Section 5.03(b). 
 (c) On each Payment Date during an Early Amortization Period, the
Borrower shall apply towards the mandatory prepayment of the Loans in accordance with Section 5.04, 100% of the amounts deposited in and standing to the credit of the Revenue Account and the Distribution Trap Account after giving effect
to all prior withdrawals and transfers pursuant to Section 4.02(b) of the Depository Agreement. 
 (d) Concurrently with any
prepayment of the Loans pursuant to Section 5.03(a), Borrower shall deliver to Administrative Agent a certificate of an Authorized Officer demonstrating the calculation of the amount of the applicable net cash proceeds or other amounts
to be prepaid, as the case may be. In the event that Borrower shall subsequently determine that the actual amount received exceeded the amount set forth in such certificate, Borrower shall promptly make an additional prepayment of the Loans in
an amount equal to such excess, and Borrower shall concurrently therewith deliver to Administrative Agent a certificate of an Authorized Officer demonstrating the derivation of such excess. 

(e) At the same time as a Transfer Date Certificate is provided prior to each Payment Date, Borrower shall provide to Administrative Agent a
Customer Prepayment Event Certificate. The Administrative Agent may notify the Borrower in writing of any suggested corrections, changes or adjustments to a Customer Prepayment Event Certificate that are not inconsistent with the terms of this
Agreement. 
 Section 5.04 Application of Prepayments. Amounts prepaid pursuant to Section 5.02 or
Section 5.03 shall be applied (1) first, on a pro rata basis to (A) the outstanding Term Loans to be applied pro rata to remaining scheduled installments thereof and 

  
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			64		TLA CREDIT AGREEMENT

 
(B) all early termination payments due and payable to the Hedge Providers on any partial early termination of an Interest Rate Hedging Agreement required to be made in connection with such
prepayment and (2) second, on a pro rata basis, to prepay any outstanding Working Capital Loans and LC Loans. Any Letter of Credit outstanding after payment of the Loans in full and cancellation of the Commitments shall be cancelled.

 Section 5.05 Payments of Interest and Principal.

(a) Subject to the provisions of Section 5.05(b) below, each Loan shall bear interest on the outstanding principal amount thereof
for the Interest Period at a rate per annum equal to the Standard Rate for the Interest Period. 
 (b) If (i) any amount payable by
the Borrower under any Loan Document is not paid when due, whether at stated maturity, by acceleration or otherwise, (ii) an Event of Default occurs pursuant to Section 11.01(e) or Section 11.01(f) or (iii) the
Borrower is in default of its obligations under Section 7.26, all outstanding Obligations shall thereafter bear interest (including post-petition interest in any proceeding under any Debtor Relief Law), payable on demand, at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws until such defaulted amount shall have been paid in full or such failure to comply with Section 7.26 shall have
been waived (as applicable). Payment or acceptance of the increased rates of interest provided for in this Section 5.05(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or
otherwise prejudice or limit any rights or remedies of any Secured Party. 
 (c) Interest on each Loan shall be due and payable in arrears
(i) on each Payment Date, (ii) on the Maturity Date, (iii) upon prepayment of any Loans in accordance with Section 5.03 and (iv) at maturity (whether by acceleration or otherwise), provided, that interest payable
pursuant to Section 5.05(b) shall be payable on demand. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor
Relief Law. 
 (d) On each Payment Date, the Borrower shall pay principal then due on the Loans. The principal due in respect of the Term
Loans on each Payment Date are set forth on Annex A, as such Annex is amended from time to time in accordance with the terms of this Agreement (the “Amortization Schedule”). The Amortization Schedule (a) shall be updated
(i) on the date of any funding of any Delayed Draw Term Loan pursuant to Section 2.02 and (ii) as necessary on or prior to each Payment Date to take into account the reduction of principal in connection with any voluntary
prepayment or mandatory prepayment on the Term Loans pursuant to Section 5.02 or Section 5.03 occurring since the last Payment Date and (b) any such updated Amortization Schedule shall be delivered to the Borrower within
five (5) Business Days of the date of (A) any date of funding of any such Delayed Draw Term Loan or (B) any such voluntary prepayment or mandatory prepayment of Term Loans, as applicable. The Borrower shall have not more than five
(5) Business Days following receipt of the updated Amortization Schedule to (i) notify Administrative Agent of any corrections that are not inconsistent with the terms of this Agreement or (ii) confirm in writing the accuracy of such
updated Amortization Schedule. Once the Borrower has confirmed in writing the accuracy of the updated 

  
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			65		TLA CREDIT AGREEMENT

 
Amortization Schedule (inclusive of any corrections suggested by Borrower pursuant to the immediately previous sentence), the Administrative Agent shall send such updated Amortization Schedule to
each of the Lenders, provided, that, Borrower shall be deemed to have confirmed the accuracy of any such updated Amortization Schedule if it does not notify the Administrative Agent of any corrections within five (5) Business Days of initial
receipt of the updated Amortization Schedule. 
 (e) To the extent not previously paid, the Borrower shall repay to the Administrative
Agent, for the account of the Term Lenders, each Term Loan in full, together with all accrued and unpaid interest thereon and fees and costs and other amounts due and payable under the Loan Documents with respect to such Term Loans, on the Maturity
Date. 
 (f) The Borrower shall repay to the Administrative Agent, for the account of the Working Capital Lenders, each Working Capital
Loan in full, together with all accrued and unpaid interest thereon and fees and costs and other amounts due and payable under the Loan Documents with respect to such Working Capital Loans, (i) at least once each calendar year, such that there
is zero principal outstanding under the Working Capital Loans for at least five (5) consecutive Business Days in any calendar year and (ii) on the Maturity Date. 

(g) To the extent not previously paid from cash applied on a Payment Date pursuant to the Depository Agreement, the Borrower shall repay to
the Administrative Agent, for the account of the LC Lenders, each LC Loan in full, together with all accrued and unpaid interest thereon and fees and costs and other amounts due and payable under the Loan Documents with respect to such LC Loans, on
the Maturity Date. 
 Section 5.06 Fees.

(a) The Borrower agrees to pay to the Administrative Agent, for the account of each Lender pro rata to their Delayed Draw Commitments, the
Delayed Draw Loan Commitment Fee, payable quarterly in arrears on (i) each Payment Date and (ii) the final day of the Availability Period. 

(b) The Borrower agrees to pay to the Administrative Agent, for the account of each Working Capital Lender pro rata to their Working Capital
Loan Commitments, the Working Capital Loan Commitment Fee, payable quarterly in arrears on (i) each Payment Date and (ii) the Maturity Date. 

(c) The Borrower agrees to pay to the Administrative Agent, for the account of each LC Lender pro rata to their participation in any Letter of
Credit, letter of credit fees equal to (1) the Applicable Margin times (2) the average aggregate daily maximum amount available to be drawn under all such Letters of Credit (regardless of whether any conditions for drawing could
then be met and determined as of the close of business on any date of determination), payable quarterly in arrears on (i) each Payment Date and (ii) the last day of the LC Availability Period. 

(d) The Borrower agrees to pay directly to Issuing Bank, for its own account, such documentary and processing charges for any issuance,
amendment, transfer or payment of 

  
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			66		TLA CREDIT AGREEMENT

 
a Letter of Credit as are in accordance with Issuing Bank’s standard schedule for such charges and as in effect at the time of such issuance, amendment, transfer or payment, as the case may
be. 
 (e) The Borrower agrees to pay the Lender the fees in accordance with the Fee Letters. 

(f) In addition to any of the foregoing fees, the Borrower agrees to pay to Agents such other fees in the amounts and at the times separately
agreed upon between the Borrower and the applicable Agent. 
 Section 5.07 Expenses, etc..

(a) The Borrower agrees to pay to the Secured Parties (i) all reasonable and documented out-of-pocket costs and expenses in connection
with the preparation, execution, and delivery of this Agreement and the other documents to be delivered hereunder or in connection herewith, including the reasonable and documented third-party fees and out-of-pocket expenses of its counsel, its
insurance consultant, any independent engineers and other advisors or consultants retained by it), (ii) all reasonable and documented costs and expenses in connection with any actual or proposed amendments of or modifications of or waivers or
consents under this Agreement or the other Loan Documents, including in each case the reasonable and documented fees and out-of-pocket expenses of counsel with respect thereto; provided, that, at the request of the Borrower, the
Administrative Agent shall consult with the Borrower at its request regarding the estimated amount of expenses that would be incurred, (iii) all costs and expenses (including fees and expenses of counsel) incurred by any Secured Party (for the
account of such Secured Party), if any, in connection with the enforcement of this Agreement or any of the other Loan Documents or the transactions contemplated thereby or any restructuring or workout proceedings (whether or not consummated) and
Taxes contemplated thereto, and the other documents delivered thereunder or in connection therewith, and (iv) all Additional Expenses. 

(b) The Borrower agrees to timely pay in accordance with applicable Law any and all present or future stamp, transfer, recording, filing,
court, documentary and other similar Taxes payable in connection with the execution, delivery, filing, recording of, from the receipt or perfection of a security interest under, or otherwise with respect to, any of the Loan Documents, and agrees to
save the Lenders and the Administrative Agent harmless from and against any liabilities with respect to or resulting from any delay in paying or any omission to pay such Taxes, in each case, as the same are incurred. 

(c) Once paid, all fees or other amounts or any part thereof payable under this Agreement, the other Loan Documents or the transactions
contemplated hereby or thereby shall not be refundable under any circumstances, regardless of whether any such transactions are consummated. All fees and other amounts payable hereunder shall be paid in Dollars and in immediately available funds.

  
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			67		TLA CREDIT AGREEMENT

 (d) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to
indefeasibly pay any amount required under Section 5.07(a) or Section 5.08 to be paid by it to the Administrative Agent (or any sub-Administrative Agent thereof) or any Related Party, and without limitation of the obligations
of the Borrower and such Related Parties to pay such amounts, each Lender severally agrees to pay to the Administrative Agent (or any such sub-Administrative Agent) or such Related Party, as the case may be, such Lender’s pro rata share
(determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on such Lender’s percentage of the Commitments, Loans and LC Exposure outstanding) of such unpaid amount (including any such unpaid amount
in respect of a claim asserted by such Lender), provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the
Administrative Agent (or any such sub-Administrative Agent) in its capacity as such, or against any Related Party, acting for the Administrative Agent (or any such sub-Administrative Agent) in connection with such capacity. The obligations of the
Lenders hereunder to make payments pursuant to this Section 5.07(d) are several and not joint. The failure of any Lender to make any payment under this Section 5.07(d) on any date required hereunder shall not relieve any
other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its payment under this Section 5.07(d). 

(e) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, neither the Borrower, any Secured Party
nor any of their respective Affiliates shall assert, and each of them hereby waives and acknowledges, that no other Person shall have any claim against any Indemnitee, the Borrower or any of the Borrower’s Affiliates on any theory of liability,
for (i) any special, indirect, consequential or punitive losses or damages (as opposed to direct or actual losses or damages) or (ii) any loss of profit, business, or anticipated savings (such losses and damages set out in the foregoing
clauses (i) and (ii), collectively, the “Consequential Losses”), in each case arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby,
the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof; provided that nothing contained in this Section 5.07(e) shall limit the Borrower’s indemnity and reimbursement obligations under
Section 5.08 in respect of any third party claims made against any Indemnitee with respect to Consequential Losses of such third party, Section 5.09 and Section 5.11. No Indemnitee shall be liable for any damages
arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through internet, telecommunications, electronic or other information transmission systems in connection
with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for any such damages resulting from any material breach by such Indemnitee of this Agreement or the other Loan Documents or that otherwise
results from the gross negligence or willful misconduct of such Indemnitee as determined by a final judgment of a court of competent jurisdiction which has become non-appealable. 

(f) Payments. All amounts due under this Section 5.07 or Section 5.08 shall be payable on the immediately
succeeding Payment Date after demand therefor. 

  
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 Section 5.08 Indemnification. Without limiting any other rights which any such
Person may have hereunder or under applicable Law, the Borrower hereby agrees to indemnify the Agents, the Lenders, each other Secured Party and each Related Party of any of the foregoing Persons (each of the foregoing Persons being individually
called an “Indemnitee”), from and against any and all damages, losses, claims, liabilities and related costs and expenses (other than any Taxes expressly addressed elsewhere in this Agreement), including, but not limited to,
reasonable and documented attorneys’ fees and disbursements (all of the foregoing being collectively called “Indemnified Amounts”) arising out of or relating to: 

(i) any transaction financed or to be financed in whole or in part, directly or indirectly with the proceeds of the Loans,
including in connection with the repayment of the Indebtedness under the Existing Backleverage Facilities or the Distribution and Contribution Transactions; 

(ii) the execution or delivery of this Agreement, any other Loan Document or any Transaction Document or any agreement or
instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby; 

(iii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Issuing
Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit); 

(iv) the grant to the Administrative Agent or the Collateral Agent for the benefit of, or to any of, the Secured Parties of any
Lien on the Collateral or in any other Property of the Borrower or any other Person or any membership, partnership or equity interest in the Borrower or any other Person and the exercise by the Agents (or the other Secured Parties) of their rights
and remedies (including foreclosure) under any Collateral Document; 
 (v) the breach of any representation or warranty made
by or on behalf of any Relevant Party, any Contribution Party or the Manager (to the extent that the Manager is an Affiliate of the Borrower) set forth in this Agreement or the other Loan Documents, or in any other report or certificate delivered by
any Relevant Party or the Manager or any of their Affiliates pursuant hereto or thereto, which shall have been false or incorrect in any material respect when made or deemed made; 

(vi) the failure by any Relevant Party, a Contribution Party or the Manager (to the extent that the Manager is an Affiliate of
the Borrower) to comply in any material manner with any of the Loan Documents or any applicable Law, or the non-conformity of any Project with any such applicable Law; 

(vii) the failure of the Operator and the Manager (to the extent that the Operator or Manager, as applicable, is an Affiliate
of the Borrower), as applicable, to 

  
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operate the Projects in accordance with the applicable standard set forth in the O&M Agreement or the Management Agreement, as applicable, or to perform its duties in a good and workmanlike
manner consistent with Prudent Industry Practice; 
 (viii) any dispute, claim, offset or defense (other than discharge in
bankruptcy) of a Relevant Party, Contribution Party or a counterparty to a Portfolio Document to any payment under any Portfolio Document based on such Portfolio Document not being a legal, valid and binding obligation of such Relevant Party or
counterparty, as applicable, enforceable against it in accordance with its terms; 
 (ix) any investigation, proceeding,
claim or action commenced or brought by or before any Governmental Authority or related to any Transaction Document; 
 (x)
the failure of any Relevant Party or any of their Affiliates to comply with all consumer leasing and protection Laws applicable to any of the Projects or Portfolio Documents; 

(xi) any and all broker’s or finder’s fees claimed to be due in connection with the issuance of the Loans; 

(xii) any recapture of a Grant or ITC, inclusive of any penalties, interest or other premiums due in respect thereof; 

(xiii) any amounts required to be repaid or returned by a Relevant Party in respect of any Excluded Property, inclusive of any
penalties, interest or other premiums due in respect thereof; 
 (xiv) any of the items listed in Schedule 6.10 or
Schedule 6.11 (including the IG Investigation and the IRS Audit); 
 (xv) any release of Hazardous Materials by a Loan
Party or with respect to a Project; 
 (xvi) any claims by a Tax Equity Member against the applicable Holdco or Tax Equity
Opco or any other Person (including under an indemnity); 
 (xvii) the Existing Backleverage Facilities and the Indebtedness
thereunder; or 
 (xviii) any claim that the Distribution and Contribution Transactions do not constitute an absolute
transfer of the Owner Membership Interests, the Tenant Membership Interests, the Managing Member Membership Interests and the Holdco Membership Interests under the ownership of the Borrower; 

but excluding Indemnified Amounts to the extent finally determined by a judgment of a court of competent jurisdiction that has become non-appealable to have
resulted from gross negligence or 

  
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willful misconduct on the part of such Indemnitee; provided, that notwithstanding the foregoing, the Borrower shall not be required to indemnify any Indemnitee for legal fees or expenses
of more than one counsel, plus any additional local counsel that may be required or any other additional counsel that may be required due to an actual or potential conflict of interest, the availability of other defenses or the risk of criminal
liability (including criminal fines or penalties) being incurred, to such Indemnitee. 
 (b) The Borrower shall not, without the prior
written consent of any Indemnitee, effect any settlement of any pending or threatened proceeding in respect of which such Indemnitee is or could have been a party and indemnity could have been sought hereunder by such Indemnitee, unless such
settlement (i) seeks only monetary damages and does not seek any injunctive or other relief against an Indemnitee, (ii) includes an unconditional release of such Indemnitee from all liability or claims that are the subject matter of such
proceeding and (iii) does not include a statement as to or an admission of fault, culpability, or a failure to act by or on behalf of such Indemnitee. 

Section 5.09 Taxes.

(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. 

(i) Any and all payments by or on account of any obligation of the Borrower under any Loan Document shall be made without
deduction or withholding for any Taxes, except as required by applicable Law (which, for purposes of this Section 5.09, shall include FATCA). If any applicable Law (as determined in the good faith discretion of the Administrative Agent
or the Borrower, as applicable, taking into account the information and documentation delivered pursuant to Section 5.09(e) below) requires the deduction or withholding of any Tax from any such payment by the Administrative Agent or the
Borrower, then the Administrative Agent or the Borrower shall be entitled to make such deduction or withholding. 
 (ii) If
the Administrative Agent or the Borrower are required to deduct or withhold any Tax described in Section 5.09(a)(i) and must timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the
applicable Law, and if the Tax is an Indemnified Tax, then, the sum payable by the Borrower shall be increased as necessary so that after the deduction or withholding (including deductions or withholdings applicable to additional sums payable under
this Section 5.09) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made. 

(b) Payment of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the Borrower shall timely
pay to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

  
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 (c) Tax Indemnifications. (i)The Borrower shall and does hereby indemnify each Recipient,
and shall make payment in respect thereof within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this
Section 5.09(c)) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not
such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent),
or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. The Borrower shall and does hereby indemnify the Administrative Agent, and shall make payment in respect thereof within ten
(10) days after demand therefor, for any amount which a Lender for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to Section 5.09(c)(ii) below. 

(ii) Each Lender shall and does hereby severally indemnify, and shall make payment in respect thereof within ten
(10) days after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified
Taxes and without limiting the obligation of the Borrower to do so), (y) the Administrative Agent and the Borrower, as applicable, against any Taxes attributable to such Lender’s failure to comply with the provisions of
Section 13.05(d) relating to the maintenance of a Participant Register and (z) the Administrative Agent and the Borrower, as applicable, against any Excluded Taxes attributable to such Lender, in each case, that are payable or paid
by the Administrative Agent or the Borrower in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and
apply any and all amounts at any time owing to such Lender, as the case may be, under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii). 

(d) Evidence of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by
the Borrower or by the Administrative Agent to a Governmental Authority as provided in this Section 5.09, the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may
be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrower
or the Administrative Agent, as the case may be. 

  
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 (e) Status of Lenders; Tax Documentation. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any
Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation as will permit such payments to be
made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested
by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. 

(ii) Without limiting the generality of the foregoing, each Lender agrees that on the Closing Date or any other date after the
Closing Date such Lender becomes a party to this Agreement, and from time to time thereafter upon reasonable request, it will deliver to each of the Borrower and the Administrative Agent either: 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S.
federal backup withholding tax; 
 (B) any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to (a) the Closing Date or (b) such other date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent), in the case of clause (b) to the extent it is legally entitled to do so, whichever of the following is applicable: 

(I) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, an executed original of IRS Form W-8BEN or IRS Form W-8BEN-E (whichever is applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to
the “interest” article of such tax treaty, and/or (y) with respect to any other applicable payments under any Loan Document, an executed original of IRS Form W-8BEN or IRS Form W-8BEN-E (whichever is applicable) establishing an

  
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exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(II) an executed originals of IRS Form W-8ECI; 

(III) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of
the Code, (x) an executed certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Lender is not a “bank” within the meaning of section 881(c)(3)(A) of the Code, a “10 percent shareholder”
of the Borrower within the meaning of section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) an executed
original of IRS Form W-8BEN or IRS Form W-8BEN-E (whichever is applicable); or 
 (IV) to the extent a Foreign Lender is not
the beneficial owner, (x) an executed original of IRS Form W-8IMY, accompanied by one or more of the following executed forms from each of the Foreign Lender’s direct or indirect partners/members, or Participants, or any Participant’s
direct or indirect partners/ members, as appropriate: IRS Form W-8ECI, IRS Form W-8BEN, or IRS Form W-8BEN-E (whichever is applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2 or Exhibit D-3, IRS Form
W-8IMY, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable, and (y) a withholding statement to the extent one is required by the Code; provided that if the Foreign Lender is a partnership for
U.S. federal income tax purposes and one or more direct or indirect partners/members of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender shall provide a U.S. Tax Compliance Certificate substantially in the form
of Exhibit D-4; 
 (C) any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number
of copies as shall be requested by the recipient) on or prior to (a) the Closing Date or (b) such other date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request
of the Borrower or the Administrative Agent), in the case of clause (b) to the extent it is legally entitled to do so, executed originals of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in
U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and

  
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			74		TLA CREDIT AGREEMENT

 (D) if a payment made to a Lender under any Loan Document would be subject to
U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver
to the Borrower and the Administrative Agent at the time or times prescribed by Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed
by section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include
any amendments made to FATCA after the Closing Date. 
 (iii) Each Lender agrees that if any form or certification it
previously delivered pursuant to this Section 5.09 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal
inability to do so. 
 (f) Treatment of Certain Refunds. Unless required by applicable Law, at no time shall the Administrative
Agent have any obligation to file for or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld or deducted from funds paid for the account of such Lender. If any Recipient determines, in
its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 5.09,
it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 5.09 with respect to the Taxes giving rise to such refund),
net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Borrower, upon the
request of the Recipient, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such
refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 5.09(f), in no event will the applicable Recipient be required to pay any amount to the Borrower pursuant to this Section 5.09(f)
the payment of which would place the Recipient in a less favorable net after-Tax position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise

  
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			75		TLA CREDIT AGREEMENT

 
imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 5.09(f) shall not be construed to require any Recipient to
make available its tax returns (or any other information relating to its Taxes that it deems confidential) to the Borrower or any other Person. 

(g) OID. The Borrower and the Lenders agree (i) that the Loans are to be treated as indebtedness of the Borrower for U.S. federal
income tax purposes, (ii) to the extent that the Borrower or a Governmental Authority determines that the Loans were made with original issue discount (“OID”) for U.S. federal income tax purposes, to report such OID as interest
expense and interest income, respectively, in accordance with sections 163(e)(1) and 1272(a)(1) of the Code, (iii) not to file any tax return, report or declaration inconsistent with the foregoing, and (iv) any OID shall constitute
principal for all purposes under this Agreement. The inclusion of this Section 5.09(g) is not an admission by any Lender that it is subject to United States taxation. 

(h) Survival. Each party’s obligations under this Section 5.09 shall survive the resignation or replacement of the
Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 

Section 5.10 Mitigation Obligations; Replacement of Lenders.

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 5.11(d), or requires the
Borrower to pay any Indemnified Taxes or additional amounts to any Lender, or any Governmental Authority for the account of any Lender, pursuant to Section 5.09, then at the request of the Borrower such Lender shall, as applicable, use
reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender,
such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 5.09 or Section 5.11(d) (as the case may be), in the future, and (ii) in each case, would not subject such Lender to
any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) Replacement of Lenders. If any Lender requests compensation under Section 5.11(d), or requires the Borrower to pay any
Indemnified Taxes or additional amounts to any Lender, or any Governmental Authority for the account of any Lender, pursuant to Section 5.09 and, in each case, such Lender has declined or is unable to designate a different lending office
in accordance with Section 5.10(a), or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender
to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 13.05), all of its interests, rights (other than its existing rights to payments pursuant to
Section 5.11 or Section 5.09) and obligations under this Agreement and the related Loan Documents (other than any Secured Interest Rate Hedging Agreement) to an Eligible Assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment); provided that: 
 (i) the Borrower shall have
paid to the Administrative Agent the assignment fee (if any) specified in Section 13.05; 

  
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			76		TLA CREDIT AGREEMENT

 (ii) such Lender shall have received payment of an amount equal to the
outstanding Obligations owed (including all principal of its Loans, accrued interest thereon, accrued fees and all other amounts) to it hereunder and under the other Loan Documents (including any amounts under Section 5.11(f)) from the assignee
(to the extent of such Obligations) or the Borrower (in the case of all other amounts); 
 (iii) in the case of any such
assignment resulting from a claim for compensation under Section 5.11(d) or payments required to be made pursuant to Section 5.09, such assignment will result in a reduction in such compensation or payments thereafter; 

(iv) such assignment does not conflict with applicable Law; and 

(v) in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have
consented to the applicable amendment, waiver or consent. 
 In the event the replaced Lender (or an Affiliate of such Lender) is party to any Secured
Interest Rate Hedging Agreement, then the replaced Lender (or Affiliate of such Lender) (the “Replaced Hedge Provider”) under such Secured Interest Rate Hedging Agreement may elect to (A) terminate such Secured Interest Rate
Hedge Agreement in accordance with its terms or (B) require the Borrower to cause the novation of such Secured Interest Rate Hedging Agreement so that the entire notional amount set forth in the original Secured Interest Rate Hedging Agreement
is subject to the novated Secured Interest Rate Hedging Agreements with the Eligible Assignee referred to above (or an Affiliate of such Eligible Assignee) (the “Replacement Hedge Provider); provided, however, that in the
event of any novation the Replacement Hedge Provider and transaction documentation must be acceptable to the Replaced Hedge Provider in its sole discretion and the Borrower shall be responsible for all additional costs resulting from any assignment
or novation of any Secured Interest Rate Hedging Agreement under this clause (b), including any fees or additional credit or other margins (such costs, fees and margins to be reasonably acceptable to the Administrative Agent) and, to the
extent of any mark-to-market payment, the Replaced Hedge Provider shall determine any amounts payable to or by it in respect of the assignment as if an “Additional Termination Event” occurred under the Secured Interest Rate Hedging
Agreement with the Borrower as the sole Affected Party (as defined therein). 
 A Lender shall not be required to make any such assignment or delegation if,
prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

  
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 Section 5.11 Change of Circumstances.

(a) Market Disruption. 

(i) If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on each
Lender’s participation in that Loan for that Interest Period shall be the percentage rate per annum which is the sum of: 

(A) the Applicable Margin; and 

(B) the percentage rate per annum notified to the Administrative Agent by that Lender, as soon as practicable and in any event
not later than five (5) Business Days before interest is due to be paid in respect of that Interest Period (or such later date as may be acceptable to the Administrative Agent), as the cost to that Lender of funding its participation in that
Loan from whatever source(s) it may reasonably select. 
 (ii) In relation to a Market Disruption Event under paragraph
(iii)(B) below, if the percentage rate per annum notified by a Lender pursuant to paragraph (i)(B) above shall be less than LIBOR or if a Lender shall fail to notify the Administrative Agent of any such percentage rate per annum, the cost to that
Lender of funding its participation in the relevant Loan for the relevant Interest Period shall be deemed, for the purposes of paragraph (i) above, to be LIBOR. 

(iii) In this Agreement “Market Disruption Event” means (A) at or about noon (London time) on the
Quotation Day for the relevant Interest Period, LIBOR is to be determined by reference to the Reference Banks and none or only one of the Reference Banks supplies a rate to the Administrative Agent to determine LIBOR for dollars for the relevant
Interest Period, or (B) at 5 p.m. on the Business Day immediately following the Quotation Day for the relevant Interest Period, the Administrative Agent receives notifications from a Lender or Lenders (whose participations in the relevant Loan
exceed thirty-five percent (35%) of that Loan) that the cost to it of obtaining matching deposits in the London interbank market would be in excess of LIBOR. 

(iv) If a Market Disruption Event shall occur, the Administrative Agent shall promptly notify the Lenders and the Borrower
thereof. 
 (b) Alternative basis of interest or funding. If a Market Disruption Event occurs and the Administrative Agent or the
Borrower so requires, the Administrative Agent and the Borrower shall enter into negotiations (for a period of not more than thirty days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed
pursuant to the immediately preceding sentence shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties. In the event that no substitute basis is agreed at the end of the thirty day period, the rate of interest
shall continue to be determined in accordance with the terms of this Agreement (including Section 5.11(a)). 

  
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			78		TLA CREDIT AGREEMENT

 (c) Illegality. If, at any time, any Lender shall have determined (which determination
shall be final and conclusive and binding upon all parties hereto) that the making, maintaining or continuation of its Loans has become unlawful as a result of compliance by such Lender in good faith with any law, treaty, governmental rule,
regulation, guideline or order (or would conflict with any such treaty, governmental rule, regulation, guideline or order not having the force of law even though the failure to comply therewith would not be unlawful), (i) that Lender shall
promptly notify the Administrative Agent upon becoming aware of that event, (ii) upon the Administrative Agent notifying the Borrower, the Commitment of that Lender will be immediately cancelled, and (iii) the Borrower shall repay that
Lender’s participation in the Loan on the last day of the Interest Period occurring after the Administrative Agent has notified the Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Administrative Agent
(being no earlier than the last day of any applicable grace period permitted by law). 
 (d) Increased Costs. If any Change of Law
shall: 
 (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender or any Issuing Bank; 

(ii) subject any Recipient to any Taxes (other than Indemnified Taxes and Excluded Taxes) on its loans, loan principal,
letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or 

(iii) impose on any Lender or any Issuing Bank or the London interbank market any other condition, cost or expense (other than
Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing
shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender, such Issuing Bank or
such other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender,
Issuing Bank or other Recipient hereunder (whether of principal, interest or any other amount) then, upon request of such Lender, Issuing Bank or other Recipient, the Borrower will pay to such Lender, Issuing Bank or other Recipient, as the case may
be, such additional amount or amounts as will compensate such Lender, Issuing Bank or other Recipient, as the case may be, for such additional costs incurred or reduction suffered. 

  
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			79		TLA CREDIT AGREEMENT

 (e) Capital Requirements. If any Lender or Issuing Bank determines that any Change of Law
affecting such Lender or Issuing Bank or any lending office of such Lender or such Lender’s or Issuing Bank’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return
on such Lender’s or Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations
in Letters of Credit held by, such Lender, or the Letters of Credit issued by any Issuing Bank, to a level below that which such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company could have achieved but for such
Change of Law (taking into consideration such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding company with respect to capital adequacy), then from time to time the Borrower will pay
to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company for any such reduction suffered. 

(f) Compensation for Breakage or Non-Commencement of Interest Periods. Borrower shall
compensate each Lender Party, upon written request by such Lender Party (which request shall set forth the basis for requesting such amounts), for all losses, expenses and liabilities (including any interest paid or payable by such Lender to lenders
of funds borrowed by it to make or carry its Loans and any loss, expense or liability sustained by such Lender in connection with the liquidation or re-employment of such funds but excluding loss of anticipated profits) which such Lender may
sustain: (i) if for any reason (whether as a result of the failure to satisfy any applicable conditions or otherwise other than a default by such Lender) a borrowing of any Loan does not occur on a date specified therefor in a Borrowing Notice;
(ii) if any prepayment or other principal payment of any of its Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Loans is not made on any date specified in
a notice of prepayment given by Borrower. 
 ARTICLE VI 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent and each Lender Party that the statements set forth in this Article VI
are true, correct and complete in all respects as of (i) the Closing Date, (ii) the date of each borrowing of Delayed Draw Term Loans under Section 2.02, (iii) the date of each issuance, extension or increase of the Stated
Amount of the Letter of Credit during the Availability Period pursuant to Section 2.04, or (iv) the date of each borrowing of Working Capital Loans under Section 2.03. 

Section 6.01 Organization, Powers, Capitalization, Good Standing, Business.

(a) Organization and Powers. Each Relevant Party and each Contribution Party is duly organized, validly existing and in good standing
under the Laws of its state of formation. Each Relevant Party and each Contribution Party has all requisite power and authority to own and operate its properties, to carry on its businesses as now conducted and proposed to be conducted. Each
Relevant Party and each Contribution Party has all requisite power and authority to enter into each Transaction Document to which it is a party and to perform the terms thereof. 

(b) Qualification. Each Relevant Party and each Contribution Party is duly qualified and in good standing in each state or territory
where necessary to carry on its present businesses and operations, except in jurisdictions in which the failure to be qualified and in good standing could not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 6.02 Authorization of Borrowing, etc.

(a) Authority. The Borrower has the power and authority to incur, and the Loan Parties have the power and authority to guarantee, the
Indebtedness represented by the Loans, the Secured Hedging Obligations and the Loan Documents. The execution, delivery and performance by each Loan Party and each Contribution Party of the Loan Documents to which it is a party and the consummation
of the transactions contemplated thereby have been duly authorized by all necessary limited liability company or other action, as the case may be, on behalf of such Loan Party or Contribution Party. 

(b) No Conflict. The execution, delivery and performance by each Relevant Party and each Contribution Party of the Transaction
Documents to which it is a party and the consummation of the transactions contemplated thereby do not and will not: (1) conflict with or result in a violation or breach of the terms of (x) its certificate of formation, limited liability
company agreement, operating agreement or other organizational documents, as the case may be; (y) any provision of material Law applicable to it or (z) any order, judgment or decree of any Governmental Authority binding on it or any of its
material properties; (2) result in a material breach of or constitute (with due notice or lapse of time or both) a material default under the Transaction Documents or any other material contractual obligation binding upon a Relevant Party or
its material properties; or (3) result in or require the creation or imposition of any Lien upon its assets (other than the Liens created under the Collateral Documents). 

(c) Consents. The execution and delivery by each Relevant Party and each Contribution Party of the Transaction Documents to which it
is a party, and the consummation of the transactions contemplated thereby, do not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority or any other Person
(including any Tax Equity Member or Comerica, Inc. and their Affiliates) which has not been obtained or made, and each such consent or approval is in full force and effect, in each case, other than consents, approvals, registrations, notices or
other action which, if not obtained or made, could not reasonably be expected to have a Material Adverse Effect. 
 (d) Binding
Obligations. Each of the Transaction Documents to which a Relevant Party or Contribution Party is a party has been duly executed and delivered by such Relevant Party or Contribution Party thereto and is the legally valid and binding obligation
of such Relevant Party or Contribution Party, enforceable against it, in accordance with its respective terms, subject to bankruptcy, insolvency, moratorium, reorganization and other similar Laws affecting creditor’s rights. 

  
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			81		TLA CREDIT AGREEMENT

 Section 6.03 Title to Membership Interests 

(a) Upon the consummation of the Distribution and Contribution Transactions on the Closing Date, the Borrower shall be the sole member of
each of the Wholly Owned Opcos and the Holdcos, and shall have good and valid legal and beneficial title to all of the Membership Interests issued by such entities, free and clear of all Liens other than Permitted Liens. All of such issued and
outstanding Membership Interests have been duly authorized and validly issued and, upon the consummation of the Distribution and Contribution Transactions on the Closing Date, are owned of record and beneficially by the Borrower and were not issued
in violation of any preemptive right. There are no voting agreements or other similar agreements with respect to the Membership Interests. 

(b) [Reserved] 
 (c) Each
Holdco has good and valid legal and beneficial title to all of the Managing Member Membership Interests in the applicable Tax Equity Opco held by it, free and clear of all Liens other than Permitted Liens. All of the issued and outstanding Managing
Member Membership Interests have been duly authorized and validly issued and, as of the Closing Date, are owned of record and beneficially by the Holdco identified in the Recitals and were not issued in violation of any preemptive right. There are
no voting agreements or other similar agreements with respect to the Managing Member Membership Interests. 
 (d) The Pledgor is the sole
member of the Borrower and has good and valid legal and beneficial title to all of the Borrower Membership Interests, free and clear of all Liens other than Permitted Liens. All of the issued and outstanding Borrower Membership Interests have been
duly authorized and validly issued and, as of the Closing Date, are owned of record and beneficially by Pledgor and were not issued in violation of any preemptive right. There are no voting agreements or other similar agreements with respect to the
Borrower Membership Interests. 
 (e) Other than pursuant to the Omnibus Distribution and Contribution Agreement, there are no outstanding
options, warrants or rights for conversion into or acquisition, purchase or transfer of any of the Membership Interests. Except for (i) the call rights of the Holdcos under the Tax Equity Documents, with respect to the membership interests of
the Tax Equity Members in the Tax Equity Opcos and (ii) the withdrawal right of [***] to Holdco XI under the Tax Equity Documents, in respect of [***] membership interests in Tenant XI, there are no outstanding options, warrants or rights for
conversion into or acquisition, purchase or transfer of any of the membership interests in a Tax Equity Opco. There are no agreements or arrangements for the issuance by any Relevant Party of additional equity interests. 

(f) Prior to the consummation of the Distribution and Contribution Transactions on the Closing Date, Schedule 6.03(f) accurately sets
forth the ownership structure of the Relevant Parties underneath the Sponsor. 
 (g) After the consummation of the Distribution and
Contribution Transactions on the Closing Date, Schedule 6.03(g) accurately sets forth the ownership structure of the Relevant Parties underneath the Sponsor. The Borrower has no subsidaries other than as shown on Schedule 6.03(g). 

(h) Schedule 6.03(h) sets forth the name and jurisdiction of incorporation or formation of each Loan Party and the Tax Equity Opcos
and the percentage of each class of Capital Stock owned by any Loan Party. 

  
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 Section 6.04 Governmental Authorization; Compliance with Laws.

(a) No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other
Person is necessary or required in connection with (i) the execution, delivery or performance by, or enforcement against, any Relevant Party or any Contribution Party of this Agreement or any other Transaction Document, (ii) the grant by
any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (iii) the perfection or maintenance of the Liens created under the Collateral Documents or (iv) the exercise by the Administrative Agent or any Lender of its
rights under the Loan Documents or the remedies in respect of the Collateral pursuant to this Agreement or the Collateral Documents, except for the authorizations, approvals, actions, notices and filings listed on Schedule 6.04, all of which
have been duly obtained, taken, given or made and are in full force and effect as of the Closing Date. 
 (b) Each of the Sponsor and the
Relevant Parties is, and the business and operations of each such Person and its development, construction and operation of the Projects are, and always have been, conducted in all respects in compliance with all material Laws (including, without
limitation, laws with respect to consumer leasing and protection but not including Environmental Laws which are addressed under Section 6.16), and none of Sponsor or any Relevant Party has received written notice from any Governmental
Authority of an actual or potential violation of any such Laws, except as does not constitute or could not reasonably be expected to constitute a Material Adverse Effect. 

Section 6.05 Solvency. No Loan Party or Contribution Party has entered into any Loan Document with the actual intent to
hinder, delay, or defraud any creditor. After giving effect to the issuance of the Loans (and the use of proceeds thereof), the fair saleable value of the Loan Parties’ assets, taken as a whole, exceeds and will, immediately following the
making of any Loans, exceed the Loan Parties’ total liabilities, including, without limitation, subordinated, unliquidated, disputed and contingent obligations. The fair saleable value of the Loan Parties’ assets, taken as a whole, is and
will, immediately following the making of any Loans (and the use of proceeds thereof), be greater than the Loan Parties’ probable liabilities, including the maximum amount of its contingent obligations on its debts as such debts become absolute
and matured. The Loan Parties’ Assets, taken as a whole, do not and, immediately following the making of any Loans (and the use of proceeds thereof) will not, constitute unreasonably small capital to carry out the business of the Loan Parties
as conducted or as proposed to be conducted. The Borrower does not intend for it or any Subsidiary to, and does not believe that any such Person will, incur Indebtedness and liabilities beyond its ability to pay such Indebtedness and liabilities as
they mature (taking into account the timing and amounts of cash to be received by the Loan Parties and the amounts to be payable on or in respect of obligations of the Loan Parties). 

  
 [***] Confidential treatment has
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 Section 6.06 Use of Proceeds and Margin Security; Governmental Regulation.

(a) No portion of the proceeds from the making of the Loans will be used by the Borrower, a Loan Party, a Contribution Party or any other
Person in any manner that might cause the borrowing or the application of such proceeds to violate Regulation T, Regulation U or Regulation X or any other regulation of the Board of Governors of the Federal Reserve System. Nor is Borrower engaged
principally, or as one of its principal activities in the business of extending credit for the purpose of purchasing or carrying margin stock (as defined or used in Regulation T, U or X of the Federal Reserve Board). 

(b) Each of the Projects is a Qualifying Facility. 

(c) The Borrower and each of the Subsidiaries are either not subject to, or are exempt from, regulation (i) as a “public
utility” or a “holding company” under the FPA, or (ii) under PUHCA. 
 (d) The Borrower and each of the Subsidiaries
are either not subject to, or are exempt from, regulation as a “public utility,” an “electric utility,” “electric corporation,” or a “holding company,” or similar terms, under the relevant State’s laws or
regulations, including state laws and regulations respecting the rates of electric utilities and the financial and organizational regulations of electric utilities. 

(e) None of the Borrower or any Subsidiary is an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act. 
 (f) None of the Borrower or any Subsidiary is subject to regulation
under any federal or state statute or regulation that limits their ability to incur indebtedness for borrowed money. 
 (g) Solely as the
result of the execution and delivery of the Loan Documents, the consummation of the transactions contemplated by the Loan Documents, or the performance of obligations under the Loan Documents, none of the Lenders will become subject to regulation
(i) as a “public utility” or a “holding company” under the FPA, (ii) under PUHCA, or (iii) as a “public utility,” an “electric utility,” “electric corporation,” or a “holding
company,” or similar terms, under the relevant State’s laws or regulations. 
 Section 6.07 Defaults; No Material Adverse
Effect.
 (a) No Default or Event of Default has occurred and is continuing. 

(b) Since the later of (i) the Closing Date and (ii) the last date any Delayed Draw Term Loans were advanced pursuant to
Section 2.02, no event, condition or circumstance has occurred which has resulted in, or could reasonably be expected to result in, a Material Adverse Effect. 

  
 [***] Confidential treatment has
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 Section 6.08 Financial Statements; Books and Records.

(a) Except as set forth on Schedule 6.08, all Financial Statements which have been furnished by or on behalf of any Relevant Party,
the Sponsor or any of their Affiliates to the Administrative Agent in connection with the Loan Documents have been prepared in accordance with GAAP, consistently applied and present fairly in all material respects the financial condition of the
Persons covered thereby as of the respective dates thereof, subject, in the case of any such unaudited Financial Statements, to changes resulting from audit and normal year-end adjustments, including the absence of footnotes and subject to
validation of individual capital accounts in calculating net loss attributable to noncontrolling interests in conformity with GAAP. 
 (b)
All books, accounts and files of each Relevant Party are accurate and complete in all material respects, and Borrower has access to all such books and records and the authority to grant access to such books and records to the Secured Parties. 

Section 6.09 Indebtedness. The Borrower and the Subsidiaries have no outstanding Indebtedness other than (i) the
Obligations and other Permitted Indebtedness and (ii) solely on the Closing Date, the Indebtedness under the Existing Backleverage Facilities which will be directly repaid in full on the Closing Date from the disbursement of the proceeds of the
Initial Term Loans. The Obligations under the Loan Documents constitute Indebtedness of the Borrower and the Subsidiaries secured by a first ranking priority security interest in the Collateral. As of the Closing Date, no other Indebtedness of the
Borrower or the Subsidiaries ranks senior in priority to the Obligations. 
 Section 6.10 Litigation; Adverse Facts. There
are no judgments outstanding against the Sponsor or any Relevant Party, or affecting any of the Projects or any other property of any Relevant Party, nor to the Relevant Parties’ Knowledge is there any action, charge, claim, demand, suit,
proceeding, petition, governmental investigation or arbitration now pending or threatened against the Sponsor or any Relevant Party, respectively, or any of the Projects that relates to the legality, validity or enforceability of any of the
Transaction Documents, the ability of a Secured Party to exercise any of its rights in respect of the Collateral or the Collateral Documents or, other than as set forth in Schedule 6.10, that could reasonably be expected to result in a
Material Adverse Effect. 
 Section 6.11 Taxes. All U.S. federal, state, local tax returns and reports, and all other
material tax returns or reports, of the Relevant Parties required to be filed have been timely filed (or any such Person has timely filed for a valid extension and such extension has not expired), and all material taxes, assessments, fees and other
governmental charges (including any payments in lieu of taxes) upon such Persons and upon their properties, assets, income, profits, businesses and franchises which are due and payable have been timely paid except to the extent the same are being
contested in accordance with Section 7.06, and/or adequate reserves under GAAP are maintained, as listed on Schedule 6.11. There are no Liens 

  
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for Taxes (other than Liens for Taxes not yet due and payable) on any assets of any Relevant Party, no unresolved written claim has been asserted with respect to any Taxes of any Relevant Party,
no waiver or agreement by any Relevant Party is in force for the extension of time for the assessment or payment of any Tax, and no request for any such extension or waiver is currently pending. Except as set forth on Schedule 6.11, there is
no pending or, to the Knowledge of the Borrower, threatened audit or investigation by any Governmental Authority of any Relevant Party with respect to Taxes. No Relevant Party is a party to or bound by any tax sharing arrangement with any Person
(including any Affiliate of a Relevant Party). No Relevant Party has engaged in any “listed transaction” as defined in Treasury Regulation section 1.6011-4 or made any disclosure under Treasury Regulation section 1.6011-4. With respect to
each Project that is leased for federal income tax purposes by a Relevant Party to a Customer, to the Knowledge of the Borrower, the Customer is not a tax exempt entity within the meaning of section 168(h)(2) of the Code, except as could not
reasonably be expected to have a Material Adverse Effect, when combined with other similar Projects. All Projects are currently exempt from real property taxes. All personal property, sales and use taxes imposed upon the Energy produced by a Project
are fully reimbursable by the Customers or have been timely paid by the Manager. 
 Section 6.12 Performance of
Agreements. None of the Relevant Parties or the Contribution Parties are in default in the performance, observance or fulfillment of the Loan Documents, Wholly Owned Documents or the Management Agreement. None of the Relevant Parties or the
Contribution Parties are in material default in the performance, observance or fulfillment of the other Transaction Documents to which they are a party or any of the other obligations, covenants or conditions contained in any material contracts of
any such Persons and, to the Knowledge of the Relevant Parties and the Contribution Parties, no condition exists under such Transaction Documents that, with the giving of notice or the lapse of time or both, would constitute such a material default,
other than with respect to the Customer Agreements or the Master Turnkey Installation Agreements where such condition (itself or when coupled with other defaults or conditions under such agreements) could not reasonably be expected to have a
Material Adverse Effect. 
 Section 6.13 Employee Benefit Plans. None of the Borrower or any Relevant Parties, or any of
their respective ERISA Affiliates, maintains or contributes to, or has any obligation under, any Employee Benefit Plans or Multiemployer Plans. 

Section 6.14 Insurance. Set forth on Schedule 6.14 is a description of all policies of insurance for the Relevant
Parties, including those policies of the Sponsor for the benefit of the Relevant Parties which are required to be maintained pursuant to a Transaction Document, that are in effect as of the Closing Date. Such Insurance Policies conform to the
requirements of Section 7.13 and have been paid in full or are not in arrears. No notice of cancellation has been received with respect to such policies and the Relevant Parties and the Sponsor are in compliance in all material respects
with all conditions contained in such policies. 
 Section 6.15 Investments. Except as permitted under
Section 8.07, the Relevant Parties have no direct or indirect equity interest in any Person which is not also a Relevant Party, including any stock, partnership interest or other equity securities of any other Person. 

  
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 Section 6.16 Environmental Compliance. Each Project is, and has been developed,
constructed and operated, in material compliance with all applicable Environmental Laws and Permits; no notice of violation of such Environmental Laws has been issued by any Governmental Authority with respect to any Project which has not been
resolved; there is no pending or, to the Borrower’s Knowledge, threatened action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration in respect of any Environmental Laws against any Relevant Party or
with respect to any Project; there has been no release of, or exposure to, any Hazardous Material on or from any Project that has resulted in or could reasonably be expected to result in any material liability or material obligation for any Relevant
Party; and no action has been taken by any Relevant Party that would cause any Project not to be in material compliance with all applicable Environmental Laws or Permits pertaining to Hazardous Materials. 

Section 6.17 Project Permits. No Permits are required for the operation of any Project in the ordinary course following the
date that it is Placed in Service. 
 Section 6.18 Representations Under Other Loan Documents. Each of the Relevant
Parties’ and the Contribution Parties’ representations and warranties set forth in the (i) other Loan Documents are true, correct and complete in all material respects and (ii) Limited Liability Company Agreements, Wholly Owned
Limited Liability Company Agreement and Master Purchase Agreements are true, correct and complete in all material respects when made. 

Section 6.19 Broker’s Fee. Except as disclosed in Schedule 6.19, no broker’s fee or finder’s fee,
commission or similar compensation will be payable by or pursuant to any contract or other obligation of any Contribution Party or Relevant Party with respect to the making of the Loans or any of the other transactions contemplated by the
Transaction Documents. 
 Section 6.20 Taxes and Tax Status. (a) Each Relevant Party (other than Holdco XVII) is
treated for U.S. federal income tax purposes either as disregarded as an entity, separate from its owner (as described in U.S. Treasury Regulations section 301.7701-2(c)(2)(i)) or as a partnership (and not a publicly traded partnership as defined in
section 7704(b) of the Code), and each such owner for this purpose is a U.S. Person and not a Tax Exempt Person (if the owner for this purpose is a partnership, then each direct or indirect owner of the owner is a U.S. Person, and no direct or
indirect owner of the owner is a Tax Exempt Person, unless it owns its interest through an entity taxable as a corporation for U.S. federal income tax purposes that is not a “tax-exempt controlled entity” within the meaning of section
168(h)(6)(F) of the Code). No Relevant Party (other than Holdco XVII) has elected to be treated as an association taxable as a corporation for federal income tax purposes. 

(b) Each of the Relevant Party and each Contribution Party have timely filed or caused to be filed all material tax returns, information
statements and reports 

  
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required to have been filed by it, and each Relevant Party and each Contribution Party have paid or caused to be paid all material Taxes, assessments, fines or penalties required to have been
paid by it, except taxes, assessments, fines or penalties that are being contested in good faith and by appropriate proceedings and for which such Person has set aside segregated cash reserves that are adequate for the payment thereof as required by
GAAP. All such tax returns are complete and accurate in all material respects. Except for Permitted Liens, no tax lien has been filed and no claim is being asserted with respect to any such Taxes, assessments, charges or fees. Holdco XVII is not
party to any tax sharing agreement and is not liable for Taxes of any Person (excluding Owner XVII) other than the Sponsor under Treasury Regulations section 1.1502-6 (or any analogous provision of state, local or non-US law) or otherwise. 

Section 6.21 Sanctions; Anti-Money Laundering and Anti-Corruption. (a) Neither the Relevant Parties nor any of their
Affiliates, nor, to the Knowledge of the Borrower, any director, officer, agent, employee, affiliate or other person acting on behalf of a Relevant Party or their Affiliates (i) is a Blocked Person (ii) has been engaged in any transaction,
activity or conduct that could reasonably be expected to result in its being designated as a Blocked Person; and/or (iii) has received notice of, or is otherwise aware of, any claim, action, suit, proceedings or investigation involving it with
respect to Sanctions. 
 (b) The operations of the Relevant Parties and each of their Affiliates have been conducted at all times in
compliance with applicable anti-money laundering statutes of all applicable jurisdictions including, without limitation, all money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes under the
Currency and Foreign Transactions Reporting Act of 1970 (otherwise known as the Bank Secrecy Act), the USA PATRIOT Act or any other United States Law or regulation governing such activities (collectively, “Anti-Money Laundering
Laws”) and no action, suit or proceeding by or before any court or other Governmental Authority involving a Relevant Party or any Affiliate with respect to the Anti-Money Laundering Laws is pending, or to the Knowledge of the Borrower,
threatened. 
 (c) Neither the Relevant Parties nor any of their Affiliates, nor, to the Knowledge of the Borrower, any director, officer,
agent, employee, affiliate or other person acting on behalf of a Relevant Party or their Affiliates is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of any other anti-corruption related
activity under any applicable Law or regulation in a U.S. or any non-U.S. country or jurisdiction, including but not limited to, the U.S. Foreign Corrupt Practices Act of 1977, as amended and the U.K. Bribery Act 2010, as amended, and the rules and
regulations thereunder (collectively, “Anti-Corruption Laws”), including, without limitation, using any corporate funds for any unlawful contribution, gift, entertainment or other unlawful payment to any foreign or domestic
government official or employee from corporate funds, and making any bribe, rebate, payoff, influence payment, kickback or other unlawful payment, (ii) is under investigation by any U.S. or non-U.S. Governmental Authority for possible violation
of Anti-Corruption Laws, or (iii) has been assessed civil or criminal penalties under any Anti-Corruption Laws. 
 (d) No proceeds of
any Loan shall be directly or indirectly for business activities in violation of, and none of the transactions contemplated by the Transaction Document will violate, Anti-Money Laundering Laws, Anti-Corruption Laws or applicable Sanctions. 

  
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 Section 6.22 Property Rights. Each Opco owns or leases each photovoltaic system
included in a Project acquired by it and owns or leases, or has a contractual right to use or shall have on the date it acquires a Project, ownership of or a leasehold interest in or a contractual right to use, all equipment and facilities necessary
for the operation of each Project. All equipment and facilities included in the Projects are (or are reasonably expected to be when acquired, leased or contracted for) in good repair an operating condition subject to ordinary wear and tear and
casualty and are suitable for the purposes for which they are employed, and, to the Knowledge of Borrower, there was and is no material defect, hazard or dangerous condition existing with respect to any such equipment or facilities. Each Opco has
the requisite real property rights and licenses under the Customer Agreements to which it is party to access, install, operate, maintain, repair, improve and remove its respective Projects and evidence of such real property rights and licenses has
been provided to the Administrative Agent. No Relevant Party is the title owner of any real property. 
 Section 6.23 Portfolio
Documents.
 (a) No Relevant Party is party to any agreement or contract other than (i) the Transaction Documents to which it is a
party, (ii) in the case of any Opco, any Excluded REC Contract entered into by it and (iii) any contract or agreement incidental or necessary to the operation of its business that does not allocate material risk to any Relevant Party and
have a term of less than one year or that has a value over its term not exceeding $100,000. 
 (b) All rights to receive the PBI Payments
and the related PBI Documents in respect of the Eligible Projects have been assigned by the Sponsor to the applicable Opco and all conditions to payment by the PBI Obligor under such PBI Documents have been satisfied and such payments are not
subject to any offset. Xcel Energy, Inc. meets the Credit Requirements. 
 (c) Each Customer Agreement to which an Opco is a party is an
Eligible Customer Agreement. 
 (d) Each Customer Agreement and the origination thereof and the installation of the related Project, in
each case, was in compliance in all material respects with applicable Law (including without limitation, all consumer leasing and protection Law) at the time such Customer Agreement was originated and executed and such Project was installed. 

(e) Each Eligible Customer Agreement requires the applicable Customer to maintain homeowner’s insurance for all damage to the property
on which the related Project is installed, including damage caused by the Project or the installation or maintenance thereof (other than damage resulting from the gross negligence of the Manager). 

  
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 (f) Other than, solely in respect of Projects acquired by the Opcos prior to the Closing Date,
no greater than [***]% of Customers who do not have a FICO® Score or were approved as exceptions to the credit policy of the Sponsor, (i) the Customers party to the Eligible Customer Agreements owned by any individual Subsidiary had a
minimum FICO® Score of at least [***] from a nationally-recognized consumer rating agency and (ii) the average FICO® Score of all Customers party to a Customer Agreement with any individual Opco is no less than [***] from
nationally-recognized consumer rating agencies, in each case, based on a FICO® Score obtained as of the time each Customer’s credit score in respect of an Eligible Project was obtained by the applicable Relevant Party in connection with the
Eligible Customer Agreement being entered into by, or assigned to, the current Customer. 
 (g) Except as set forth on Schedule
6.23(g), all Portfolio Documents when provided to Administrative Agent (in each case, including all schedules, exhibits, attachments, supplements and amendments thereto and any related protocols or side letters) are (or will be when provided)
true, correct and complete copies of such Portfolio Documents, and as of the Closing Date, each Portfolio Document (i) has been duly executed and delivered by Sponsor and each Relevant Party thereto (as applicable) and, to the Knowledge of
Borrower and the Subsidiaries, the other parties thereto, (ii) is in full force and effect and is enforceable against each Sponsor and each Relevant Party (as applicable) and, to the Knowledge of Borrower and the Subsidiaries, each other party
thereto as of such date, (iii) neither the Sponsor nor any Relevant Party or, to the Knowledge of Borrower and each Subsidiary, no other party to such document is or, but for the passage of time or giving of notice or both, would be in breach
of any material obligation thereunder, except solely with respect to the Project Documents, where such breach (itself or when coupled with other breaches under such Project Documents) could not reasonably be expected to have a Material Adverse
Effect, (iv) has no event of force majeure existing thereunder except solely with respect to the Project Documents, where such event of force majeure (itself or when coupled with other events of force majeure under such Project Documents) could
not reasonably be expected to have a Material Adverse Effect and (v) all conditions precedent to the effectiveness of such documents have been satisfied or waived in writing. 

(h) Borrower maintains in its or the relevant Relevant Party’s books and records a copy of all documentation ancillary to the Customer
Agreements, including, with respect to each completed Project: (i) a copy of or access to all of such Project’s manufacturer, installer or other warranties; (ii) copies of all PBI Documents and completed and submitted documentation in
respect of rebates, if applicable, including the applicable confirmation letters; (iii) a copy of the Project’s completed inspection certificate issued by the applicable Governmental Authority; (iv) evidence of permission to operate
from the applicable local utility; and (v) evidence that the installer of such Project has been paid in full. 
 (i) The insurance
described in Section 7.13 satisfies all insurance requirements set forth in the Portfolio Documents. 
 (j) Each Eligible
Project is comprised of panels from an Approved Manufacturer. 

  
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 (k) The Sponsor and Relevant Parties have taken all action in accordance with Prudent Industry
Practices to ensure that the manufacturer warranties relating to an Eligible Project are in full force and effect and can be enforced by the applicable Opco and, to the Knowledge of the Borrower and except to the extent the applicable manufacturer
is no longer honoring its warranties generally, all manufacturer warranties are in full force and effect. 
 (l) In respect of each
Eligible Project with respect to which a Customer Agreement was prepared for execution on and from January 6, 2014, a fixture filing has been recorded against each Customer and the applicable property in respect of such Eligible Project in the
filing office designated by Section 9-501 of the applicable Uniform Commercial Code (as adopted in the applicable jurisdiction of installation) prior to, or within, the period required under Section 2-A-309 of the applicable Uniform
Commercial Code in order to perfect a first priority security interest following the delivery of any photovoltaic system components to a site for installation. 

(m) In respect of each Eligible Project in California with respect to which a Customer Agreement has been entered into, a filing in respect
of such Eligible Project (pursuant to and in compliance with Cal. Pub. Util. Code §§ 2868-2869) was made in the applicable local filing office where the Eligible Project is located. 

(n) Each Eligible Project is located in a Project State listed in Schedule 6.23(n). 

(o) With respect to each Tax Equity Opco, each of the Tax Equity Opco Representations is true, complete and correct. 

(p) With respect to each Wholly Owned OpCo, each of the Wholly Owned Opco Representations is true, complete and correct. 

Section 6.24 Security Interests.

(a) The Collateral Documents create, as security for the Obligations, valid, enforceable, and, upon the filing of documents and instruments
in the proper places and the taking of other required actions (including, without limitation, possession), which have been filed or taken on or prior to the Closing Date, perfected first-priority Liens in the Collateral, in favor of the Collateral
Agent, for the benefit of the Secured Parties, subject to no Liens other than Permitted Liens. All consents and approvals necessary or desirable to create and perfect such Liens have been obtained. 

(b) The descriptions of the Collateral set forth in the Collateral Documents are true, complete, and correct in all material respects and are
adequate for the purpose of creating, attaching, and perfecting the Liens in the Collateral granted or purported to be granted in favor of the Collateral Agent for the benefit of the Secured Parties. 

(c) All filings, registrations, recordings, notices, and other actions that are necessary or required as of the Closing Date (including
delivery to the Collateral Agent of the 

  
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certificates evidencing the Membership Interests or giving the Collateral Agent control or possession of the Collateral) to perfect the Collateral Agent’s Lien on the Collateral have been
made or taken or will be made or taken on the Closing Date. 
 Section 6.25 Intellectual Property. Each Subsidiary owns or
holds a valid and enforceable agreement, license, permit, certificate, franchise or other authorization or right to use the technology and intellectual property rights necessary to own, lease, operate, maintain and repair the Projects, and no
actions by any Subsidiary that have been performed or are expected to be performed under the Portfolio Documents infringe upon or misappropriate the intellectual property rights of any other Person. 

Section 6.26 Full Disclosure.

(a) All written information, including any information contained in any Officer’s Certificate, Loan Document (including all schedule,
exhibit annexes and other attachments), documents, reports or other written information pertaining to the Sponsor, the Relevant Parties, the Portfolio Documents and the Projects (other than any projections or forward-looking statements), together
with all written updates of such information from time to time (collectively, the “Information”), that have been furnished by or on behalf of the Borrower to any Secured Party or its advisors or consultants are, as of the date such
Information was so furnished (it being understood, without limitation, that the disclosures under the schedules to this Agreement are furnished as of the Closing Date) and taken as a whole, true and correct in all material respects and do not
contain any material misstatement of fact or omit to state a material fact or any fact necessary to make the statements contained therein not materially misleading in light of the circumstances in which they were made. 

(b) The projections and forward-looking statements, including the Base Case Model, prepared by or as directed by the Borrower that have been
made available to any Secured Party (i) have been prepared in good faith based upon assumptions believed by the Borrower to be reasonable as and when such projections or forward-looking statements were prepared and as of the Closing Date
(ii) other than with respect variances to the assumptions as agreed by the Administrative Agent and the Borrower, are generally consistent with each financial model provided to the Tax Equity Members as and when such projections or
forward-looking statements were prepared and (iii) do not include any cash flows from any Project that is not an Eligible Project. 

  
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 ARTICLE VII 

AFFIRMATIVE COVENANTS 
 The
Borrower covenants and agrees that until the Debt Termination Date, it shall perform and comply with all covenants in this Article VII applicable to such Person. 

Section 7.01 Financial Statements and Other Reports.

(a) Financial Statements and Operating Reports. 

(i) Annual Reporting. Within one-hundred twenty (120) days after the end of each fiscal year of the Sponsor (or
one-hundred fifty (150) days in the case of Financial Statements delivered in respect of the 2014 fiscal year), the Borrower shall furnish, or cause to be furnished, to the Administrative Agent and each Lender (on a consolidated basis for the
Sponsor and its subsidiaries) copies of the Financial Statements of the Sponsor, and Borrower; provided, that for the 2014 fiscal year only a balance sheet and income statement shall be provided. In the case of the Financial Statements of the
Borrower, the Financial Statements for the subsidiary Opcos shall be scheduled as “Other Financial Information” except that the Financial Statements of Owner XI and Tenant XI shall be provided as consolidated into Holdco XI. At
all times after any initial public offering of the Sponsor, such Financial Statements shall of the Sponsor shall comply with the requirements of, and be provided no later than, as required by and in any manner permitted by the Securities and
Exchange Commission and applicable Law and listing rules in lieu of the requirements set forth in the first sentence of this Section 7.01(a)(i). All such Financial Statements shall be prepared in accordance with GAAP consistently applied
and, other than in respect of the Financial Statements delivered in respect of the 2014 fiscal year, shall be audited by an Independent certified public accounting firm of national standing, and shall be accompanied by an unqualified report of such
accountants on such Financial Statements which states that such Financial Statements present fairly in all material respects the financial position of the applicable Person and its consolidated subsidiaries for the period covered by such Financial
Statements. All such Financial Statements shall also be accompanied by a certification executed by the applicable Person’s chief executive officer or chief financial officer (or other officer with similar duties) to the effect set
forth in Section 7.01(a)(vi). 
 (ii) Quarterly Reporting. Within sixty (60) days after the end of
each of the first three (3) fiscal quarters in each fiscal year of the applicable Person, commencing with the fiscal quarter ended March 31, 2015, the Borrower shall provide to the Administrative Agent and each Lender (on a consolidated
basis for the applicable Person and its subsidiaries) copies of the unaudited Financial Statements of each of the Sponsor, the Borrower and each Opco for each such quarter, together with a certification executed by each respective chief executive
officer or chief financial officer (or other officer with similar duties) to the effect set forth in Section 7.01(a)(vi). At all times after any initial public offering of the Sponsor, such Financial Statements of the Sponsor shall
comply with the requirements of, and be provided no later than, as required by and in any manner permitted by the Securities and Exchange Commission and applicable Law and listing rules in lieu of the requirements set forth in the first
sentence of this Section 7.01(a)(ii). The Financial Statements of Owner XI and Tenant XI shall be consolidated into Holdco XI. 

  
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 (iii) Portfolio Reporting. The Borrower shall cause the Manager to
provide to the Administrative Agent and the Independent Engineer the quarterly Manager’s report (as defined in the Management Agreement), no later than forty five (45) days after the end of the fiscal quarter of the Borrower in the form
attached as Exhibit B to the Management Agreement. The Borrower shall cause the Manager and its employees and officers to make themselves available at the request of the Administrative Agent or the Independent Engineer to discuss any information
disclosed in a Manager’s report, including with respect to the tracking of expected flip dates under each Limited Liability Company Agreement and inverter failure rates. 

(iv) Operator Reporting. The Borrower shall cause the Operators to provide to the Administrative Agent and the
Independent Engineer all reports required pursuant to O&M Agreements at such time and in such manner as provided therein. The Borrower shall cause each Operator and its employees and officers to make themselves available at the request of the
Administrative Agent or the Independent Engineer to discuss any information disclosed in such reports, including with respect to inverter failure rates. 

(v) Debt Service Coverage Ratio Certificate. No later than ten (10) Business Days prior to each Payment Date,
Borrower shall provide to Administrative Agent a Debt Service Coverage Ratio Certificate. The Administrative Agent (including on the instructions of any Lender) may notify the Borrower in writing of any suggested corrections to a Debt Service
Coverage Ratio Certificate (the “Administrative Agent DSCR Comments”) that are not inconsistent with the terms of this Agreement, no later than five (5) Business Days following receipt of a Debt Service Coverage Ratio
Certificate. The Borrower shall incorporate into the Debt Service Coverage Ratio Certificate all Administrative Agent DSCR Comments that are consistent with the terms of this Agreement and deliver to the Administrative Agent a revised Debt Service
Coverage Ratio Certificate no later than three (3) Business Days following the date of the Borrower’s receipt of the Administrative Agent DSCR Comments. The calculations of the Debt Service Coverage Ratios and other information provided in
respect of Debt Service Coverage Ratio Certificate hereunder shall be used in determining deposits to and releases from the Revenue Account or the Distribution Trap Account, as applicable, to the Pledgor Collections Account pursuant to the
Depository Agreement. If the Borrower fails to produce the information and calculations relating to the Debt Service Coverage Ratios and Debt Service Coverage Ratio Certificate required to be produced pursuant to this Agreement, then, until such
time as such information and calculations are provided, no funds shall be released to the Pledgor Collections Account on a Payment Date. 

(vi) Certifications of Financial Statements and Other Documents. Together with the Financial Statements provided to the
Administrative Agent pursuant to Sections 7.01(a)(i) and (ii), the Borrower shall 

  
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also furnish to the Administrative Agent certifications upon which the Administrative Agent may conclusively rely in the form of Exhibit K, executed by the respective chief executive officer or
chief financial officer (or other officer with similar duties) of the Sponsor and applicable Relevant Party (as applicable) certifying that such Financial Statements fairly present the financial condition and results of operations of the Sponsor and
applicable Relevant Party (as applicable) on a consolidated basis for the period(s) covered thereby in accordance with GAAP (subject, in the case of any such unaudited Financial Statements, to changes resulting from audit and normal year-end
adjustments, including the absence of footnotes and subject to validation of individual Subsidiary capital accounts in calculating net loss attributable to noncontrolling interests in conformity with GAAP). 

(vii) Fiscal Year. The Borrower shall not, and shall not permit any Subsidiary to, change its fiscal year end from
December 31. 
 (b) Material Notices. The Borrower shall promptly, but in no event later than three (3) Business Days
after the earlier of its or any Subsidiary’s receipt or Knowledge thereof, deliver, or cause to be delivered, to the Administrative Agent: 

(i) copies of all notices given or received with respect to a default or any event of default under any term or condition of
or related to any Permitted Indebtedness; 
 (ii) copies of any and all notices of a default, breach or termination by any
party under (A) any Transaction Document (other than a Project Document) or (B) any Project Document, which default, breach or termination under any Project Document (itself or when coupled with other breaches under any Project Document)
could reasonably be expected to have a Material Adverse Effect; 
 (iii) notice of the occurrence of any event or
circumstance that has, or could reasonably be expected to have, a Material Adverse Effect; 
 (iv) notice of any
(i) fact, circumstance, condition or occurrence at, on, or arising from, any Project, that results or could reasonably be expected to result in material noncompliance with or a material liability or material obligation under any Environmental
Law, (ii) release of Hazardous Materials on or from any Project that has resulted in or could reasonably be expected to result in personal injury or material property damage, or (iii) pending or, to the Borrower’s Knowledge,
threatened action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration in respect of any Environmental Laws against it or arising in connection with occupying or conducting operations on or at any Project
therefor; 

  
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			95		TLA CREDIT AGREEMENT

 (v) copies of all material notices, documents or reports received or sent by the
Borrower, the Sponsor or any other Relevant Party pursuant to any Tax Equity Document, which shall include (without limitation) any project purchase and sale confirmation notice, bill of sale and notices, documents or reports in relation to
(A) any call, withdrawal or put option, (B) the achievement of any flip or cash reversion dates under a Limited Liability Company Agreement, (C) true-up requirements (including, without limitation, any interim and final true-ups or
other updates to the financial model in respect of any Tax Equity Opco as delivered to the Tax Equity Members), (D) the transfer of membership interests, (E) claims against the Sponsor or any Relevant Party under any indemnity,
(F) the threatened or actual removal of any Holdco as a managing member, (G) any updates to financial models prepared by or in respect of a Tax Equity Opco, (H) stop deployment events, any deficient class or otherwise in relation to
Projects owned by Owner XVII being Placed in Service or material correspondence on other eligibility criteria in the Tax Equity Documents for any Tax Equity Opco and (I) dispute resolution or independent review under the terms of any Tax
Equity Document (including, without limitation, in relation to any Tracking Model, Projects being Placed in Service and any material dispute in relation to Tax matters and ITCs); 

(vi) notice of any event which would require a mandatory prepayment under Section 5.03(a); 

(vii) notice that any insurance required to be maintained pursuant to the Tax Equity Documents or Loan Documents has been, or
is threatened to be, cancelled; 
 (viii) any proposed amendment, supplement, modification or waiver to, or assignment or
transfer in respect of, a Portfolio Document (other than any Customer Agreement or Master Turnkey Installation Agreement) or the organizational documents of a Relevant Party at least five (5) Business Days prior to entry thereto; 

(ix) copies of any amendment, supplement, waiver or other modification to a Portfolio Document or the organizational documents
of a Relevant Party (provided that such documents in respect of the Customer Agreements may be provided on a quarterly basis but no later than forty-five (45) days after the end of March, June, September and December); and 

(x) each recall notice issued in respect of, or any other material communications related to an actual or potential Serial
Defect from any manufacturer of any inverter included in an Eligible Project. 

  
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			96		TLA CREDIT AGREEMENT

 (c) Tracking Models. In respect of a Partnership Flip Tax Equity Opco at all times prior
to the date when the Flip Point for that Partnership Flip Tax Equity Opco is finally determined to have occurred pursuant to the applicable Limited Liability Company Agreement: 

(i) the Borrower shall deliver at the same time delivered to the Tax Equity Members of any Partnership Flip Tax Equity Opco,
but in no event later than as required under the applicable Limited Liability Company Agreement whether delivered to the applicable Tax Equity Member or not and without any extension or waiver unless consented to by the Required Lenders, copies of
the applicable Tracking Model, together with such exhibits or supplemental information as are delivered to the Tax Equity Member and are otherwise reasonably requested to demonstrate the basis of the calculation of Tax Equity Payout and a
certification executed by the applicable Holdco’s Authorized Officer that the Tracking Model has been prepared in good faith in accordance with calculation rules and conventions under the applicable Limited Liability Company Agreement (such
Tracking Model, together with the applicable exhibits or supplemental information, the “Annual Tracking Model”); 

(ii) the Borrower shall deliver at the same time delivered to the Tax Equity Members of any Partnership Flip Tax Equity Opco,
each update to the Tracking Model made to calculate whether the Flip Point has occurred during the preceding calendar quarter; and 

(iii) upon the aggregate Flip Point Deficit for all Partnership Tax Equity Opcos shown under the Annual Tracking Models being
equal to or more than [***] on any Calculation Date, then the Borrower shall thereafter deliver, within forty-five (45) days after the end of each March, June, September and December, an update to the Tracking Model in respect of each
Partnership Flip Tax Equity Opco showing actual results through the end of the calendar quarter and demonstrating an updated calculation of Tax Equity Payout, together with such exhibits or supplemental information as are reasonably requested to
demonstrate the basis of the calculation of Tax Equity Payout and a certification executed by the applicable Holdco’s Authorized Officer that the Tracking Model has been prepared in good faith in accordance with calculation rules and
conventions under the applicable Limited Liability Company Agreement. 
 The Borrower shall cause the applicable Holdco and the Manager to make themselves
available at the request of the Administrative Agent (acting on the instructions of the Required Lenders) to discuss the basis for such calculations, including the interpretation and application of the calculation rules, conventions and procedures
under the Limited Liability Company Agreement. [***] 
 (d) Major Decisions. The Borrower shall promptly, but in no event later than
five (5) Business Days prior to any vote or approval in respect of a Major Decision, deliver, or cause to be delivered, to the Administrative Agent written notice describing the issue to be decided by vote or approved together with copies of
all correspondence received and sent with respect to that Major Decision. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			97		TLA CREDIT AGREEMENT

 (e) Operating Budgets.

(i) The Borrower shall prepare, or cause to be prepared, for each fiscal year of the Borrower and each Wholly Owned Opco an
operating and capital expense budget setting forth the anticipated revenues, and Operating Expenses (including expenses for Non-Covered Services) of each such Relevant Party for such fiscal year. The initial operating budget for 2015 is attached as
Exhibit L hereto. For each succeeding fiscal year (commencing with 2016), the Borrower shall, not later than forty-five (45) days prior to the end of the current fiscal year (commencing in 2015), submit such Operating Budget to the
Administrative Agent for its approval (acting on the instructions of the Required Lenders); provided that the approval of the Administrative Agent shall be deemed to be given if (A) the Operating Expenses set forth in the Operating
Budget do not exceed the greater of (x) 20% in the aggregate over the amount budgeted for such Operating Expenses of the Borrower and the Wholly Owned Opcos in the then-current Base Case Model for the applicable year and (y) $125,000 and
(B) such Operating Budget is otherwise consistent with the then-current Base Case Model for the applicable year. 

(ii) The Borrower shall, and shall cause each Holdco to, deliver to the Administrative Agent (i) each Operating Budget
submitted to the Tax Equity Members in respect of a Tax Equity Opco, at the same time as delivered to such Tax Equity Member but in no event later than as required under the applicable Limited Liability Company Agreement and (ii) when
available, any amendments to such Operating Budget, together with all notices or correspondence regarding the approval of such Operating Budget (if applicable) by the Tax Equity Member; provided that the approval of the Administrative Agent
(acting on the instructions of the Required Lenders) shall be required (such approval not to be unreasonably withheld or delayed but notwithstanding any permitted variances in any operating budgets approved by a Tax Equity Member) if (A) the
aggregate Non-Covered Services included in such Operating Budgets collectively exceed the greater of (x) 20% in the aggregate over the amount budgeted for Operating Expenses in respect of the Tax Equity Opcos in the then-current Base Case Model
for the applicable year and (y) $500,000 and (B) such Operating Budgets are otherwise consistent with the then-current Base Case Model for the applicable year. 

(f) Inverter Reporting. On or prior to the Calculation Date ending December 31, 2015, and annually thereafter, the Borrower shall
submit to the Independent Engineer a list of all inverter manufacturers and models, together with the distribution of such equipment across each Opco and inverter failure rates and warranty information, for an annual review of which the Borrower has
Knowledge (together, the “Inverter Review Information”). The Borrower shall make itself and its officers and employees available to the Independent Engineer at its request to discuss the Inverter Review Information. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			98		TLA CREDIT AGREEMENT

 (g) Other Information. As soon as practicable upon request, the Borrower shall, deliver,
or cause to be delivered, such other information in relation to the business, operations, property, assets or condition (financial or otherwise) of the Borrower and any Relevant Party as the Administrative Agent or any Lender may from time to time
reasonably request. 
 (h) Data Site. Notwithstanding anything contained to the contrary herein, all reporting and notice
obligations of Borrower under this Section 7.01 may be satisfied by posting any applicable reports, notices or other materials to an Intralinks data site or such other data site designated by Borrower that is reasonably acceptable to the
Administrative Agent and the Required Lenders and to which the Administrative Agent, the Lenders and the Independent Engineer shall be granted access. 

Section 7.02 Notice of Events of Default. The Borrower shall give the Administrative Agent prompt written notice of
(i) each Default of which it obtains Knowledge and each Event of Default hereunder and (ii) each default on the part of any party to the other Transaction Documents (other than the (i) Customer Agreements where such breach (itself or
when coupled with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect) and (ii) Master Turnkey Installation Agreements where such breach (itself or when coupled with other breaches under such
agreements) could not reasonably be expected to have a Material Adverse Effect). 
 Section 7.03 Maintenance of Books and
Records. The Borrower shall, and shall cause the Subsidiaries to, maintain and implement, administrative and operating procedures reasonably necessary in the performance of their obligations hereunder and the Borrower shall, and shall cause
the Subsidiaries to, keep and maintain at all times, or cause to be kept and maintained at all times, all documents, books, records, accounts and other information reasonably necessary or advisable for the performance of their obligations hereunder
to the extent required under applicable Law. 
 Section 7.04 Litigation. Notice promptly upon the Borrower or any Relevant
Party receiving or obtaining: 
 (i) notice of any pending or threatened (in writing) litigation, investigation, action or
proceeding of or before any court arbitrator or Governmental Authority affecting the Sponsor, Borrower or any Relevant Party that, if adversely determined, could reasonably be expected to result in: 

(A) liability to the Borrower or a Relevant Party in an aggregate amount exceeding $1,000,000, or an aggregate amount with all
other such claims exceeding $3,000,000; 
 (B) injunctive, declaratory or similar relief against the Borrower or a Relevant
Party; or 
 (C) a Material Adverse Effect; 

  
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			99		TLA CREDIT AGREEMENT

 (ii) Knowledge of any material development in any action, suit, proceeding,
governmental investigation or arbitration at any time which is disclosed under Schedule 6.10 or which is otherwise pending against or affecting the Sponsor, Borrower or any Relevant Party and could reasonably be expected to have a Material
Adverse Effect; or 
 (iii) any materially substantive written communication from the Inspector General, Department of
Justice, Internal Revenue Service or any other Governmental Authority to the Sponsor or any Relevant Party in respect of the IG Investigation or IRS Audit, which such notice shall include a copy of such communication; provided, that
(i) the disclosure of such information to the Administrative Agent is not prohibited by Law and (ii) such information is not required to be kept confidential by written request of the Inspector General, Department of Justice, Internal
Revenue Service or such other Governmental Authority; provided further, that nothing contained in this Section 7.04 shall be interpreted to require the Sponsor or any Relevant Party to waive the attorney-client or other similar
legal privilege. 
 Section 7.05 Existence; Qualification. The Borrower shall, and shall cause each other Subsidiary to,
at all times preserve and keep in full force and effect its existence as a limited liability company and all rights and franchises material to its business, including its qualification to do business in each state where it is required by Law to so
qualify, except to the extent that the failure to be so qualified could not reasonably be expected to have a Material Adverse Effect. 

Section 7.06 Taxes. The Borrower shall, and shall cause each of the Subsidiaries to, maintain its status for U.S. federal
income tax purposes as represented in Section 6.20 of this Agreement and shall not recognize any transfer of an ownership interest in the Borrower if the direct owner is not a U.S. Person that is not a Tax Exempt Person. The Borrower
shall, and shall cause each of the Subsidiaries to, pay, or cause to be paid, as and when due and prior to delinquency, all material Taxes, assessments and governmental charges of any kind that may at any time be lawfully due or levied against or
with respect to such Person or any Project (including, in each case, all material Taxes, assessments and charges lawfully made by any Governmental Authority for public improvements that may be secured by a Lien on such Project); provided,
however that the Borrower may, by appropriate proceedings, contest or cause to be contested in good faith any such Taxes, assessments and other charges and, in such event, may, if permitted by applicable Laws, permit the Taxes, assessments or other
charges so contested to remain unpaid during any period, including appeals, when the Borrower is in good faith contesting or causing to be contested the same by appropriate proceedings, so long as (i) reserves in accordance with GAAP have been
established on the Borrower’s or its relevant Subsidiary’s books in an amount sufficient to pay any such Taxes, assessments or other charges, accrued interest thereon and potential penalties or other costs relating thereto, or other
provision for the payment thereof reasonably satisfactory to the Administrative Agent shall have been made, (ii) enforcement of the contested Tax, assessment or other charge is effectively stayed pursuant to applicable Laws for the entire
duration of such contest and (iii) any Tax, assessment or other charge determined to be due, together with any interest or penalties thereon, is promptly paid after resolution of such contest. 

  
 [***] Confidential treatment has
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			100		TLA CREDIT AGREEMENT

 Section 7.07 Operation and Maintenance. The Borrower shall, and shall cause
each Opco and the applicable Operator to, keep each Project in good operating condition consistent in all material respects with the applicable Portfolio Documents, all other agreements with respect to the Project (including any provisions of any
manufacturer, installer or other warranties), Prudent Industry Practices and requirements of Law, and make or cause to be made all repairs necessary to keep such Projects in such condition (ordinary wear and tear excepted). With respect to
replacements of panels of any Project, the Borrower shall, and shall cause each Opco and the applicable Operator to, use solar panels manufactured by an Approved Manufacturer. 

Section 7.08 Preservation of Rights; Maintenance of Projects; Warranty Claims; Security.

(a) The Borrower shall, and shall cause each Subsidiary to (i) perform and observe its material obligations under the Portfolio
Documents, and to which such Relevant Party is a party and (ii) preserve, protect and defend its (or its Subsidiary’s) material rights, under such Portfolio Documents, including prosecution of suits to enforce any right of such Relevant
Party thereunder and enforcement of any claims with respect thereto. The Borrower and each Subsidiary shall cause the applicable Operator to maintain any Permits as may be required in connection with the maintenance, repair or removal of any
Project. 
 (b) Borrower and each Subsidiary shall, or shall cause the Manager or Operator (as appropriate) to, on behalf of the applicable
Subsidiary, pursue warranty claims related to a Project’s photovoltaic panels, inverters or other material components in accordance with the terms of the applicable warranty, unless the Administrative Agent waives such requirement in writing.

 (c) The Borrower shall, and shall cause each Loan Party to, execute and deliver from time to time such other documents as shall be
necessary or advisable, or that the Administrative Agent or Collateral Agent may reasonably request, in connection with the rights and remedies of the Secured Parties granted by or provided for in the Loan Documents and to perform the transactions
contemplated therein. 
 (d) The Borrower shall, and shall cause each Loan Party to (i) take all actions as may be necessary or
advisable, or that the Administrative Agent may reasonably request, to establish, maintain, protect, perfect and continue the perfection or the first-priority status (subject to Permitted Liens) of the security interests created (or purported to be
created) by the Collateral Documents and (ii) furnish timely notice of the necessity of any such action together with such instruments, in execution form (if applicable), and such other information as may be required or reasonably requested to
enable any appropriate Person to effect any such action. Without limiting the generality of the foregoing, the Borrower shall, at its own expense, (A) execute and deliver or cause to be executed and delivered, acknowledge or cause to be
acknowledged, file or cause to be filed or record or register or cause to be recorded or registered, 

  
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			101		TLA CREDIT AGREEMENT

 
or take any other action or cause any other action to be taken with respect to, such notices, statements, instruments and other documents (including any memorandum of lease or other agreement,
UCC financing statement or amendment or continuation statement, certificate of title or estoppel certificate, fixture filings and mortgages or deeds of trust) in all places necessary or advisable to establish, maintain, protect and perfect, and
ensure the priority of, such security interests and in all other places that the Administrative Agent or any Lender shall reasonably request, (B) discharge all other Liens (other than Permitted Liens) or other claims adversely affecting the
rights of the Secured Parties in the Collateral or the pledged interests and (C) deliver or publish all notices to third parties that may be required to establish or maintain the validity, perfection or priority of any Lien created pursuant to
this Agreement or the Collateral Documents. 
 (e) Without limiting its obligations under the foregoing clauses (c) and (d), the
Borrower shall, and shall cause each Loan Party to, do everything necessary or advisable (including filing, registering and recording all necessary instruments and documents and paying all fees, taxes, levies, imposts and periodic expenses in
connection therewith), or that the Administrative Agent may reasonably request, to (i) create security arrangements, including, as applicable, the establishment of a pledge or the perfection of any Lien or, as applicable, the enforceability of
a Lien as against such Subsidiary and any subsequent lienor (including a judgment lienor), holder of a charge, or transferee for or not for value, in bulk, by operation of Law, or otherwise, in each case granted, with respect to all future assets in
accordance with the requirements of all applicable Laws, or the Law of any other jurisdiction, as applicable, (ii) maintain the security and pledges created by this Agreement and the Collateral Documents in full force and effect at all times
(including, as applicable, the priority thereof) and (iii) preserve and protect the Collateral and Membership Interests and protect and enforce its rights and title, and the rights and title of the Secured Parties, to the security created by
this Agreement and the Collateral Documents. 
 (f) The Borrower shall take all reasonable actions under to maintain the fixture filings
referenced in Section 6.23(l) and Section 6.23(m) pursuant to applicable Laws. If, in any Project State, a Change of Law occurs which in the opinion of the Administrative Agent makes it more likely that any residential
photovoltaic system installed in such Project State would be determined to be a fixture then, at the Administrative Agent’s request, the Borrower shall, and shall cause each Subsidiary, to use their best efforts to cause a fixture filing to be
recorded against each Customer and the applicable property in such Project State in respect of each Project that does not have a current fixture filing. 

(g) Without limitation to Section 7.22, simultaneously with the purchase of the outstanding “class A” membership
interests of a Tax Equity Opco or any membership interests held by a Tax Equity Member in such Tax Equity Opco (whether pursuant to purchase, call, put or withdrawal option), the Borrower shall, and shall cause the applicable Holdco and Tax Equity
Opco to, deliver such new and amended Collateral Documents and standing instructions and associated amendments to the Loan Documents as requested by the Administrative Agent (including a security agreement over all assets of the Tax Equity Opco,
standing instructions for the deposit of the revenues of such Tax Equity Opco into the Collections Account and amendments to reflect such Tax Equity Opco as a wholly owned subsidiary of the Borrower) in a form and of substance reasonably acceptable
to it. 

  
 [***] Confidential treatment has
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			102		TLA CREDIT AGREEMENT

 Section 7.09 Compliance with Laws; Environmental Laws. The Borrower shall, and
shall cause each Subsidiary to (a) comply in all material respects with, and conduct its business and operations in compliance in all material respects with, all applicable Laws (including Environmental Laws, consumer leasing and protection Law
and any federal, state or local regulatory Laws) and Permits and shall exercise commercially reasonable efforts to make such alterations to the Projects as may be required for such compliance, and (b) procure, maintain and comply in all
material respects with all Permits by the date such Permit is necessary or required to have been obtained under applicable Law. 

Section 7.10 Energy Regulatory Laws. The Borrower shall, and shall cause each Subsidiary to, take all necessary actions to
maintain (a) the status of each Project as a Qualifying Facility, and (b) the Borrower’s and each Subsidiary’s exemptions from (i) the FPA, as provided in FERC’s regulations at 18 C.F.R. § 292.601(c), including the
exemption from regulation under Sections 205 and 206 of the FPA as provided in § 292.601(c)(1), (ii) PUHCA, as provided in FERC’s regulations at 18 C.F.R. § 292.602(b), and (iii) certain state laws and regulations respecting
the rates of electric utilities and the financial and organizational regulations of electric utilities, as provided in FERC’s regulations at 18 C.F.R. § 292.602(c). 

Section 7.11 Interest Rate Hedging. By no later than thirty (30) days after the Closing Date, the Borrower shall enter
into and thereafter maintain Interest Rate Hedging Agreements with one or more Secured Hedge Providers (in each case, documented pursuant to ISDA agreements reasonably satisfactory to the Administrative Agent) to the extent necessary to provide that
at least 75% but in no event greater than 100% of the aggregate principal amount of Term Loans outstanding or projected to be outstanding are subject to either a fixed interest rate or interest rate protection through the Maturity Date. The Borrower
may maintain or enter Interest Rate Hedging Agreements with one or more Secured Hedge Providers (in each case, documented pursuant to ISDA agreements reasonably satisfactory to the Administrative Agent) in order to obtain fixed interest rate or
interest rate protection in respect of up to 100% of the aggregate principal amount of Term Loans outstanding or projected to be outstanding for a period from and after the Maturity Date through the Deemed Full Amortization Date. 

Section 7.12 Payment of Claims.

(a) Except for those matters being contested pursuant to clause (b) below, the Borrower shall, and shall cause the Subsidiaries to, pay
(i) all claims (including claims for labor, services, materials and supplies) for sums that have become due and payable and that by Law have or may become a Lien upon any of its properties or assets (hereinafter referred to as the
“Claims”) and (ii) all U.S. federal, state, local and non-U.S. income Taxes, sales Taxes, excise Taxes and all other Taxes and assessments of the Relevant Parties on their businesses, income, profits, franchises or assets, in
each instance before any penalty or fine is incurred with respect thereto; provided that, without limiting the Sponsors obligations under the 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			103		TLA CREDIT AGREEMENT

 
Cash Diversion Guaranty, the foregoing shall not be deemed to require that a Subsidiary pay any such Tax or other liability that is imposed on a Customer or that such Customer is contractually
obligated to pay, and the term “Claims” shall be construed accordingly. 
 (b) The Borrower shall not be required to pay,
discharge or remove any Claim relating to any Project that it is otherwise obligated to pay, discharge or remove so long as the Borrower contests (or cause to be contested) in good faith such Claim or the validity, applicability or amount thereof by
an appropriate legal proceeding which operates to prevent the collection of such amounts and the sale of the applicable Project, so long as no Event of Default shall have occurred and be continuing and the Borrower has provided the Administrative
Agent with security or cash reserves in an amount sufficient to pay, discharge or remove such Claim. 
 Section 7.13 Maintenance of
Insurance.
 (a) Until the Debt Termination Date, the Borrower shall, at its sole cost and expense, procure and maintain, or cause to
be procured and maintained by the Operators and the Manager pursuant to the Portfolio Documents, and provide the Administrative Agent with acceptable evidence (in form and substance reasonably satisfactory to the Administrative Agent) of the
existence of, the types and amounts of insurance listed below with respect to the activities of its representatives in connection with this Agreement (collectively, the “Insurance Policies”) with reputable insurers rated at least
A-, X by A.M. Best and “A” or higher by S&P or otherwise acceptable to the Administrative Agent, acting reasonably. In addition, Borrower and the Relevant Parties shall take all necessary action to maintain any insurance that each such
Relevant Party or Sponsor is required to maintain pursuant to the terms and conditions of the Transaction Documents. The following terms and conditions apply with respect to property and liability insurance maintained by or on behalf of the Borrower
or the Relevant Parties with respect to the Projects: 
 (i) Property insurance - to provide against loss and damage by all
risks of physical loss or damage covering Assets and other personal property, in amounts not less than the full insurable replacement value of all personal property from time to time, subject to usual and customary sublimits acceptable to the
Administrative Agent, including coverage on a replacement cost and/or agreed amount basis with no deduction for depreciation and no co-insurance provisions (or a waiver thereof). 

(ii) Automobile Liability - to provide coverage for non-owned and hired automobiles for both bodily injury and property damage
(if applicable). 
 (iii) Commercial General Liability - to provide coverage on an “occurrence” basis,
including coverage for premises/operations explosion, collapse and underground hazards, products/completed operations, broad form property damage, blanket contractual liability for written contracts, independent contractors and personal injury. 

(iv) Excess/Umbrella Liability - in excess of the Automobile Liability and Commercial General Liability limits indicated above
on a following-form basis with drop-down provisions applying. 

  
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			104		TLA CREDIT AGREEMENT

 (b) With respect to all property insurance (including any excess or difference in conditions
policies, if applicable) required pursuant to Section 7.13(a) 
 (i) Borrower, the Relevant Parties and each of their
members shall be included as an additional “named insured”. 
 (ii) Borrower hereby waives, and shall cause the
Relevant Parties and each of their members to waive, any rights of subrogation against the Secured Parties and shall cause any such property Insurance Policies to include or be endorsed to include a waiver of subrogation in favor of the Secured
Parties. 
 (iii) Such property insurance shall include the following severability of interest and non-vitiation wording (or
such other similar wording acceptable to the Administrative Agent): 
 “This Policy shall apply as if a separate policy had been issued
to each insured provided that the total liability of the insurer to all parties collectively shall not exceed the sums insured and limits and sublimits of liability specified in the Schedule, elsewhere in the Policy, or endorsed thereto. A vitiating
act committed by one insured party shall not prejudice the right to indemnity of any other insured party who has an insurable interest and who has not committed a vitiating act.” 

(iv) The Secured Parties shall be included as additional “named” insureds on all such Insurance Polices insuring
Wholly Owned Opcos. 
 (v) Collateral Agent shall be named as the “sole” loss payee on all such Insurance Polices
insuring Wholly Owned Opcos pursuant to a lender loss payable endorsement acceptable to the Collateral Agent. 
 (vi) To the
extent commercially available, such Insurance Policies shall be endorsed to provide at least thirty (30) days’ prior written notice (or ten days’ prior notice if such cancellation is due to failure to pay premiums) of cancellation to
the Administrative Agent. If such endorsement for notice of cancellation shall not be commercially available, the Borrower shall be obligated to provide the required written notice of cancellation to the Administrative Agent. 

(vii) All such Insurance Policies shall have limits and sublimits at least equal to those contained in the policies listed in
Schedule 6.14. 
 (viii) Such Insurance Policies shall have deductibles in accordance with Prudent Industry
Practices, the Portfolio Documents and the policies listed in Schedule 6.14. 

  
 [***] Confidential treatment has
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			105		TLA CREDIT AGREEMENT

 (c) With respect to all liability insurance required pursuant to Section 7.13(a):

 (i) To the extent commercially available, such Insurance Policies shall be endorsed to provide at least thirty
(30) days’ prior written notice (or ten days’ prior notice if such cancellation is due to failure to pay premiums) of cancellation to the Administrative Agent. If such endorsement for notice of cancellation shall not be commercially
available, the Borrower shall be obligated to provide the required written notice of cancellation to the Administrative Agent. 

(ii) Such Insurance Policies shall include Borrower, the Relevant Parties and each of their members as an additional
“named insured”. 
 (iii) Such Insurance Policies shall include an endorsement to the policy naming (or providing
via blanket endorsements as required by written contract) the Administrative Agent, and the Lenders, and their respective permitted successors, assigns, members, directors, officers, employees, lenders, investors, representatives and Administrative
Agents as additional insureds on a primary and non-contributory basis. 
 (iv) Borrower hereby waives, and shall cause the
Relevant Parties and each of their members to waive, any rights of subrogation against the Secured Parties and shall cause any such liability Insurance Policies to include or be endorsed to include a waiver of subrogation in favor of the Secured
Parties. 
 (v) Such Insurance Policies shall include a severability of interest or separation of insureds clause with no
material exclusions for cross-liability clause. 
 (vi) All such Insurance Policies shall have limits and sublimits at least
equal to those contained in the policies listed in Schedule 6.14. 
 (vii) All such Insurance Policies shall have
deductibles in accordance with Prudent Industry Practices, the Portfolio Documents and the policies listed in Schedule 6.14. 
 (d)
The Borrower shall be responsible for covering the costs of all insurance premiums and deductibles associated with the Insurance Policies. 

(e) Borrower and the Relevant Parties shall be obligated to provide written notice of material change to the Administrative Agent unless such
notice is otherwise provided by endorsement of the required Insurance Policies. [***] 

  
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			106		TLA CREDIT AGREEMENT

 (f) Prior to the Closing Date and on each anniversary of the Closing Date thereafter, the
Borrower and Relevant Parties shall provide detailed evidence of insurance (in a form acceptable to the Administrative Agent) including certificates of insurance and copies of applicable insurance binders and policies (if requested), as well as a
statement from the Borrower and/or its authorized insurance representative confirming that such insurance is in compliance with the terms and conditions of this Section 7.13, is in full force and effect and all premiums then due have
been paid or are not in arrears. 
 (g) No provision of this Agreement shall impose on the Administrative Agent or any other Secured Party
any duty or obligation to verify the existence or adequacy of the insurance coverage maintained by or on behalf of the Borrower, the Relevant Parties or their members, nor shall the Administrative Agent or any other Secured Party be responsible for
any representations or warranties made by or on behalf of the Borrower, the Relevant Parties, their members or any other Person to any insurance agent or broker, insurance company or underwriter. 

(h) On an annual basis, not later than sixty (60) days before the end of the Borrower’s fiscal year, the Borrower shall cause a
nationally recognized insurance or other applicable expert to perform and deliver, with a copy to the Administrative Agent, a probable maximum loss analysis with respect to the properties of the Borrower and the Relevant Parties. [***] The
Administrative Agent, the Borrower and each Relevant Parties shall review such probable maximum loss analysis and, the Borrower and the Relevant Parties shall make appropriate adjustments (in consultation with, and with the prior written approval
of, the Administrative Agent) to the types and amounts of insurance they maintain pursuant to Section 7.13(a) to reflect the results of such probable maximum loss analysis. 

(i) [***] 
 (j) If at any time
the Borrower determines in its reasonable judgment that any insurance (including the limits or deductibles thereof) required to be maintained by this Section 7.13 is not available on commercially reasonable terms due to prevailing
conditions in the commercial insurance market at such time, then upon the written request of the Borrower together with a written report of the Borrower’s insurance broker or another independent insurance broker of nationally-recognized
standing in the insurance industry (i) certifying that such insurance is not available on commercially reasonable terms (and, in any case where the required maximum coverage is not reasonably available, certifying as to the maximum amount which
is so available), (ii) explaining in detail the basis for such broker’s conclusions, and (iii) containing such other information as the Administrative Agent (in consultation with the Insurance Consultant) may reasonably request, the
Administrative Agent may (after consultation with the Insurance Consultant) temporarily waive such requirement and only to the extent that the Borrower can demonstrate that such temporary waiver will not cause the Borrower or the Relevant Parties to
be out of compliance with the Portfolio Documents or that a similar waiver has been obtained under such Portfolio Documents; provided, however, that the Administrative Agent, may in its sole judgment, decline to waive any such
insurance requirement. At any time after the granting of any temporary waiver pursuant to this Section 7.13 but not more than once in any year, the Administrative Agent may request, and the Borrower shall furnish to the

  
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			107		TLA CREDIT AGREEMENT

 
Administrative Agent within thirty (30) days after such request, an updated insurance report reasonably acceptable to the Administrative Agent (in consultation with the Insurance Consultant)
from the Company’s independent insurance broker. Any waiver granted pursuant to this Section 7.13 shall expire, without further action by any party, immediately upon (A) such waived insurance requirement becoming available on
commercially reasonable terms, as reasonably determined by the Administrative Agent, (in consultation with the Insurance Consultant and the Company) or (B) failure of the Borrower to deliver an updated insurance report pursuant to clause
(ii) above. 
 Section 7.14 Inspection.

(a) The Borrower agrees that, with reasonable prior notice, it will permit, and cause each Subsidiary to permit, any representatives and
consultants of the Lender Parties, during the applicable Relevant Party’s normal business hours, to examine on-site all the books of account, records, reports and other papers of the Relevant Parties, to make copies and extracts therefrom, and
the Borrower further agrees to discuss their affairs, finances and accounts with the officers, employees, Independent certified public accountants and other consultants of such Lender Parties, all at such reasonable times and at the Borrower’s
expense; provided that except during the continuation of an Event of Default, such examinations may occur no more frequently than two times per calendar year. The Borrower shall promptly deliver copies of any Portfolio Documents as may be
requested by Administrative Agent from time to time. 
 (b) The Borrower will permit, and shall cause each Subsidiary to permit, the
Administrative Agent to conduct, in each case, at the sole cost and expense of the Borrower, field audits and examinations of the Projects, and appraisals of the Projects; provided, that, (i) such field audits and examinations and
appraisals may be conducted not more than once per any twelve-month period (except, during the existence and continuance of an Event of Default, there shall be no limit on the number of additional field audits and examinations and appraisals
that shall be permitted at the Borrowers’ expense) and (ii) except during the continuance of an Event of Default, the Administrative Agent shall consult with the Borrower regarding the costs and expenses of such field audits and
examinations and appraisals. 
 Section 7.15 Cooperation. The Borrower shall, and shall cause its Subsidiaries to,
cooperate and provide reasonable information and other assistance in connection with any proposed assignment or participation of a Loan permitted by Section 13.05(b). 

Section 7.16 Collateral Accounts; Collections.

(a) The Borrower shall maintain, and shall cause to its Subsidiaries to maintain, in full force and effect each of the Collateral Accounts
and each Tenant Company Standing Instruction in accordance with the terms of the Loan Documents. 
 (b) The Borrower shall, and shall cause
each Relevant Party to, ensure that at all times each counterparty to a Project Document is directed to pay all Rents, PBI Payments or other payments due to a Relevant Party under such Project Document in accordance with the terms of the Loan
Documents. 
 (c) Borrower shall, and shall cause each Loan Party to, remit any amounts received by it or received by third parties (other
than pursuant to the terms of the Loan Documents) on its behalf to the appropriate Collateral Account for deposit in accordance with the terms of the Loan Documents. 

  
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			108		TLA CREDIT AGREEMENT

 Section 7.17 Performance of Agreements. Borrower shall, and shall cause the
Subsidiaries to, duly and punctually perform, observe and comply in all material respects with all of the terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with hereunder and under the other
Loan Documents to which it is a party. The Borrower shall, and shall cause the Subsidiaries to, prudently exercise and enforce their rights, authorities and discretions under the Portfolio Documents to which they are a party. 

Section 7.18 Customer Agreements and REC Contracts. 

(a) Each Customer Agreement entered into following the Closing Date shall be an Eligible Customer Agreement. 

(b) The Borrower shall ensure that the Sponsor assigns to the applicable Opco all rights to receive the PBI Payments and the related PBI
Documents in respect of each Eligible Project. 
 (c) Each Customer Agreement shall require the applicable Customer to maintain
homeowner’s insurance for all damage to the property on which the related Project is installed. 
 (d) No later than thirty
(30) days after the Closing Date, the Borrower shall provide to the Administrative Agent (i) fully executed copies of the balance of the Customer Agreements not provided to the Administrative Agent on the Closing Date which shall be
Eligible Customer Agreements and (ii) evidence that the evidence of installer payment referred to in Section 6.23(h) includes lien waiver language consistent with the prescribed form of unconditional waiver and release on final
payment for California from the Contractors State License Board (or the applicable form in the relevant Project State), accompanied by an Officer’s Certificate of the Borrower in a form and substance reasonably satisfactory to the
Administrative Agent. 
 Section 7.19 Management Agreement. The Borrower shall, and shall cause the Manager and each
Relevant Party to, (i) perform and observe all of the material terms, covenants and conditions of the Management Agreement on the part of Manager and such Relevant Party to be performed and observed and (ii) promptly notify the
Administrative Agent of any notice to Borrower of any material default under the Management Agreement. If the Borrower shall default in the performance or observance of any material term, covenant or condition of the Management Agreement to be
performed or observed by it, then, without 

  
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			109		TLA CREDIT AGREEMENT

 
limiting the Administrative Agent’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Manager or any Relevant Party from any of its
obligations under the Loan Documents or the Borrower under the Management Agreement, the Borrower grants the Administrative Agent on its behalf the right, upon prior written notice to the Borrower, to pay any sums and to perform any act as may be
reasonably appropriate to cause such material conditions of the Management Agreement on the part of the Borrower to be performed or observed; provided, however, that the Administrative Agent will not be under any obligation to pay such sums or
perform such acts. 
 Section 7.20 Use of Proceeds. The Borrower shall apply the proceeds of the Loans exclusively as set
permitted pursuant to Section 2.01, Section 2.02, Section 2.03 and Section 2.04. 

Section 7.21 Project Expenditures. The Borrower shall, and shall cause the Relevant Parties, Manager and Operators to,
operate and maintain the Projects pursuant to the then-current Operating Budget, the O&M Agreements, the Portfolio Documents, all other agreements with respect to the Project (including any provisions of any manufacturer, installer or other
warranties), Prudent Industry Practices and applicable Law. 
 Section 7.22 Tax Equity Opco Matters.

(a) Any capital contribution or loan required to be made by any Holdco to any Tax Equity Opco pursuant to such Tax Equity Opco’s Limited
Liability Company Agreement or any other Tax Equity Document shall be made solely from the proceeds of Excluded Property (it being understood that repayments on any such loan shall not be Excluded Property and shall be paid directly into the Revenue
Account by the applicable Holdco). 
 (b) The Borrower shall, and shall cause each Holdco to, enforce their rights under the Tax Equity
Documents to ensure that each Relevant Party shall make and apply the maximum distributions to the managing members in accordance with the Tax Equity Documents and, without limitation, shall not agree to the maintenance of any cash reserve within
any Opco without the consent of the Administrative Agent (acting on the instructions of the Required Lenders). 
 Section 7.23
Recapture. Each Relevant Party will take all reasonable actions to avoid (i) any liability to repay any portion of any payment it received with respect to a Project from the U.S. Treasury under section 1603 of the American Recovery
and Reinvestment Act of 2009, as amended, or (ii) any disallowance or recapture of all or part of any tax credit under section 48 of the Code with respect to a Project. 

Section 7.24 Termination of Servicer.

(a) In the event that a Servicer Termination Event occurs, the Administrative Agent or Collateral Agent (each acting on the instructions of
the Required Lenders) may, in its sole discretion, deliver notice to the Operator under the Tenant O&M Agreement and to the Back-Up Servicer under the Wholly Owned Opco Back-Up Servicing 

  
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			110		TLA CREDIT AGREEMENT

 
Agreement, terminating the appointment of such Operator and triggering the transition to the Back-Up Servicer as successor Operator under the applicable O&M Agreements. The Borrower shall,
and shall cause each Subsidiary to, immediately take all such action necessary (including the delivery of notice) to terminate the Operator and transition to the Back-Up Servicer. 

(b) In the event that a Tax Equity Opco or a Holdco has the right to terminate an O&M Agreement or the Operator pursuant to the terms of
such O&M Agreement, the Administrative Agent (acting on the instructions of the Required Lenders) may, in its sole discretion, deliver notice to the Borrower requiring it to cause the applicable Holdco to terminate the appointment of the
Operator and trigger the transition to the Back-Up Servicer as successor Operator under such O&M Agreement. The Borrower shall, and shall cause the applicable Holdco to, immediately take all such action necessary (including the delivery of
notice) to terminate the Operator and transition to the Back-Up Servicer. 
 Section 7.25 Prepaid Customer
Agreements. Borrower shall cause all Projects subject to Prepaid Customer Agreements to be transferred to an Affiliate of the Sponsor that is not a direct or indirect subsidiary of Borrower: 

(i) in the case of such Projects owned by any Owner Company, by no later than the third anniversary of the Closing Date; and

 (ii) in the case of such Projects owned by Owner XI, by no later than 30 days following the date that the call option set
forth in the Limited Liability Company Agreement of Owner XI becomes exercisable; 
 in each case at the sole cost and expense of the Sponsor or Affiliate
of the Sponsor (other than a Relevant Party). 
 Section 7.26 Post-Closing Covenants.

(a) Borrower shall, within ninety (90) days following the Closing Date, deliver to the Administrative Agent fully executed copies of the
Inverted Lease Back-Up Servicing Agreement and the Wholly Owned Back-Up Servicing Agreement together with evidence the the “Initial Acceptance Fee” payable to the Back-Up Servicer pursuant to the Inverted Lease Back-Up Servicing Agreement
and the Wholly Owned Back-Up Servicing Agreement has been paid. 
 (b) The Borrower shall use commercially reasonable efforts to make an
amendment to the Limited Liability Company Agreement of Owner XVIII within ninety (90) days of the Closing Date, in a form and substance reasonably satisfactory to the Administrative Agent, in respect of the automatic reduction of the [***]
Class B Member Note in connection with capital contribution and true up obligations of Holdco XVIII. 
 (c) Borrower shall, within
five (5) Business Days following the Closing Date, deliver to the Administrative Agent fully executed copies of the [***] Amendment I and the [***] Amendment II. 

  
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			111		TLA CREDIT AGREEMENT

 ARTICLE VIII 

NEGATIVE COVENANTS 

Section 8.01 Indebtedness. The Borrower shall not, and shall not permit the Subsidiaries to, create, incur, assume,
guarantee, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness except for the following (collectively, “Permitted Indebtedness”): 

(a) the Obligations (including the Secured Hedging Obligations); 

(b) unsecured trade payables which are not evidenced by a note or are otherwise indebtedness for borrowed money and which arise out of
purchases of goods or services in the ordinary course of business; provided, however, (1) such trade payables are payable not later than 90 days after the original invoice date and are not overdue by more than 30 days and
(2) the aggregate amount of such trade payables outstanding does not, at any time, exceed $1,000,000 in the aggregate for the Borrower and the Subsidiaries; 

(c) loans made by a (i) Holdco to a Tax Equity Opco solely to the extent made with the proceeds of Excluded Property in accordance with
Section 7.22(a) or (ii) Owner XVII to Holdco XVII under the Contribution Note (as defined in the Limited Liability Company Agreement of Owner XVII) provided it is repaid or deemed repaid or reduced in full on or before
March 31, 2015 solely from (A) capital contributed by the Sponsor and/or (B) a reduction of the outstanding amount in accordance with Section 4.01(g)(ii) of the Limited Liability Company Agreement of Owner XVII and
(iii) Owner XVIII to Holdco XVIII under the [***], provided it is repaid or deemed repaid or reduced in full on or before June 30, 2015 solely from (x) capital contributed by the Sponsor and/or (y) a reduction of the outstanding
amount (other than by capital contribution) in accordance with Section 4.01(c) of the Limited Liability Company Agreement of Owner XVIII; and 

(d) to the extent constituting Indebtedness, obligations or liabilities of a Tenant Company, Owner Company or Tax Equity Opco arising under
any Excluded REC Contract or any guarantee in respect thereof (other than any obligation or liability constituting indebtedness for borrowed money). 

In no event shall any Indebtedness other than the Obligations be secured, in whole or in part, by the Collateral or other Assets or any
portion thereof or interest therein and any proceeds of any of the foregoing. 
 Section 8.02 No Liens. The Borrower shall
not, and shall not permit the Subsidiaries to, create, incur, assume or permit to exist any Lien on any asset now owned or hereafter acquired by it except Permitted Liens. 

  
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			112		TLA CREDIT AGREEMENT

 Section 8.03 Restriction on Fundamental Changes. The Borrower shall not, and
shall not permit the Subsidiaries to, without the prior written consent of the Administrative Agent (acting on the instructions of the Required Lenders), (i) merge or consolidate with another Person, (ii) sell, assign, transfer or dispose
of any part of the Collateral other than (x) sales, assignments, transfers or dispositions of obsolete, worn-out or replaced property or assets not used or useful in its business, (y) sales of Projects to Customers pursuant to the express
terms of the Customer Agreements (provided that the proceeds thereof received by the Relevant Parties are applied in accordance with Section 5.02) or (z) otherwise as expressly permitted by this Agreement, (iii) liquidate,
wind-up or dissolve any Subsidiary or (iv) withdraw or resign from any Subsidiary (including in the capacity as managing member). 

Section 8.04 Bankruptcy, Receivers, Similar Matters. Borrower shall not, and shall not permit any Subsidiary to, apply for,
consent to, or aid, solicit, support, or otherwise act, cooperate or collude to cause the appointment of or taking possession by, a receiver, trustee or other custodian for all or a substantial part of the Assets of any Relevant Party. Borrower
shall not, and shall not permit any Subsidiary to, file a petition for, consent to the filing of a petition for, or aid, solicit, support, or otherwise act, cooperate or collude to cause the filing of a petition for an Involuntary Bankruptcy. In any
Involuntary Bankruptcy of any Relevant Party, the Borrower shall not, and shall not permit any Subsidiary to, without the prior written consent of the Administrative Agent (acting on the instructions of the Required Lenders), consent to the entry of
any order, file any motion, or support any motion (irrespective of the subject of the motion), and the Borrower shall not, and shall not permit any Subsidiary to file or support any plan of reorganization. In any Involuntary Bankruptcy of a Relevant
Party, Borrower shall, and shall cause the Subsidiaries to, do all things reasonably requested by the Administrative Agent (acting on the instructions of the Required Lenders) to assist the Administrative Agent in obtaining such relief as the
Administrative Agent shall seek, and shall in all events vote as directed by the Administrative Agent (acting on the instructions of the Required Lenders). Without limitation of the foregoing, Borrower shall, and shall cause the Subsidiaries to, do
all things reasonably requested by the Administrative Agent (acting on the instructions of the Required Lenders) to support any motion for relief from stay or plan of reorganization proposed or supported by the Administrative Agent (acting on the
instructions of the Required Lenders). 
 Section 8.05 ERISA.

(a) No ERISA Plans. The Borrower shall not, and shall not permit any Loan Party to, establish any Employee Benefit Plan or
Multiemployer Plan, or commence making contributions to (or become obligated to make contributions to) any Employee Benefit Plan or Multiemployer Plan. 

(b) Compliance with ERISA. The Borrower shall not, and shall not permit any Subsidiary to engage in any non-exempt prohibited
transaction under section 406 of ERISA or section 4975 of the Code; provided that if Borrower is in default of this covenant under subsection (i), Borrower shall be deemed not to be in default if such default results solely because
(x) any portion of the Loans have been, or will be, funded with plan assets of any Plan and (y) the purchase or holding of such portion of the Loans by such Plan constitutes a non-exempt prohibited transaction under section 406 of ERISA or
section 4975 of the Code or a violation of applicable Similar Law. 
 (c) The Borrower shall not, and shall not permit the Subsidiaries to,
hire or maintain any employees. 

  
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			113		TLA CREDIT AGREEMENT

 Section 8.06 Restricted Payments. The Borrower shall not, and shall not permit
any Subsidiary to make, directly or indirectly any Restricted Payment other than: 
 (a) distributions by the Tax Equity Opcos to their
members in accordance with the terms of the respective Limited Liability Company Agreements; 
 (b) distributions by the Relevant Parties
to the Borrower; 
 (c) distributions from the Borrower to the Pledgor Collections Account to the extent permitted under the Depository
Agreement; 
 (d) the Borrower and Subsidiaries may distribute to their members any and all proceeds of Excluded REC Sales; 

(e) distributions of Loan proceeds in accordance with the express provisions of ARTICLE II and the Distribution and Contribution
Agreement; and 
 (f) distributions of any amounts distributed by Tax Equity Opcos to Holdcos on January 15, 2015 to the Sponsor, in
an amount not to exceed $2,000,000, in accordance with the Account Collateral Agreement (provided, that at the time of such distribution evidence is provided to the Administrative Agent of the amounts actually distributed by the Tax Equity
Opcos to the Holdcos on January 15, 2015); 
 The Borrower shall not (i) redeem, purchase, retire or otherwise acquire for value any of its
ownership or equity interests or securities or (ii) set aside or otherwise segregate any amounts for any such purpose. The Borrower shall not, directly or indirectly, make payments to or distributions from the Collateral Accounts except in
accordance with the Depository Agreement. The Borrower shall ensure that no Holdco exercises any right of offset or set-off against its right to distributions from an Opco. 

Section 8.07 Limitation on Investments. The Borrower shall not, and shall not permit any Subsidiary to, after the date
hereof, form, or cause to be formed, any subsidiaries, make or suffer to exist any loans or advances to, or extend any credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or
performance on any obligation or capability of so doing or otherwise (other than (i) pursuant to a Loan Document or (ii) the guarantee from an Owner Company or Owner XI of the obligations of the applicable Tenant Company or Tenant XI,
respectively, in respect of REC sales)), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of any other Person (except by the endorsement of checks in the ordinary course
of business), or, except as expressly permitted under any Loan Document, make any investments (by way of transfer of property, contributions to capital, purchase of stock or securities or evidences of indebtedness, acquisition of the business or
assets, or otherwise) in, any Affiliate or any other Person. 

  
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			114		TLA CREDIT AGREEMENT

 Section 8.08 Sanctions and Anti-Corruption. Borrower shall not, and shall not
permit any Relevant Party, Contribution Party or other Affiliate to (a) become (including by virtue of being owned or controlled by a Blocked Person), own or control a Blocked Person, or (b) contribute or otherwise make available all or
any part of the proceeds of the Loans, directly or indirectly, to, or for the benefit of, any Person (whether or not an Affiliate of the Borrower) for the purpose of financing the activities or business of, other transactions with, or investments
in, any Blocked Person or in violation of any Anti-Corruption Laws, (c) directly or indirectly fund all or part of any repayment or prepayment of the Loans out of proceeds derived from any transaction with or action involving a Blocked Person
or in violation of Anti-Corruption Laws or (d) engage in any transaction, activity or conduct that would violate Sanctions or Anti-Corruption Laws, that would cause any Secured Party to be in breach of any Sanctions or that could reasonably be
expected to result in it or its Affiliates or any Secured Party being designated as a Blocked Person. 
 Section 8.09 No Other
Business; Leases. Borrower shall not, and shall not permit any Subsidiary to: (i) engage in any business other than the acquisition, ownership, leasing, construction, financing, operation and maintenance of the Projects in accordance with
and as contemplated by the Transaction Documents and other activities incidental thereto, including the sale of RECs under the Excluded REC Contracts, or (ii) change its name without the consent of the Administrative Agent. 

(b) Borrower shall not, and shall not permit any Subsidiary to, enter into any agreement or arrangement to lease the use of any Asset or
Project of any kind (including by sale-leaseback, operating leases, capital leases or otherwise), except any Master Lease or pursuant to the terms of the Eligible Customer Agreements. 

Section 8.10 Portfolio Documents. 

(a) The Borrower shall not, and shall not permit any Subsidiary to, amend, modify or terminate any Portfolio Document, or waive any material
breach under, or material breach of, any Portfolio Document, without the prior written consent of the Administrative Agent (acting on the instructions of the Required Lenders); provided, that the Subsidiaries shall be permitted to enter into
an agreement to amend or modify (i) the electricity or lease rate, annual escalator or term of any Exempt Customer Agreement only (such agreement, a “Payment Facilitation Agreement”), so long as such amendment or modification
is (A) permitted under the applicable Tax Equity Documents and (B) made in good faith for a commercially reasonable purpose and is intended to maximize the long-term economic value of the Customer Agreement as against its value if the
Payment Facilitation Agreement had not been entered into (as reasonably determined by the Sponsor in good faith and in light of the facts and circumstances known at the time of such amendment or modification) and (ii) a Master Turnkey
Installation Agreements to the extent that such amendment or modification could not reasonably be expected to have a Material Adverse Effect. 

  
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			115		TLA CREDIT AGREEMENT

 (b) The Borrower shall not, and shall not permit any Subsidiary to, enter into any new agreement
or contract, other than the Transaction Documents and the Excluded REC Contracts or any contract or agreement incidental or necessary to the operation of its business that do not allocate material risk to any Relevant Party and have a term of less
than one year or that has a value over its term not exceeding $100,000, without the prior written consent of the Administrative Agent (acting on the instructions of the Required Lenders). 

(c) The Borrower shall not, and shall not permit any Subsidiary to, assign, novate or otherwise transfer or consent to an assignment,
novation or any other transfer of a Project Document other than (i) pursuant to the Collateral Documents, (ii) transfers of an interest in an Opco which are permitted in accordance with clause (d) below and Section 7.08(g)
and (iii) assignments of a Customer Agreement to a replacement Customer in accordance with the terms of the Customer Agreement and applicable Law (including consumer leasing and protection Law). 

(d) No Holdco shall exercise any option to purchase the outstanding “class A” membership interests of a Tax Equity Opco or any
membership interests held by a Tax Equity Member in such Tax Equity Opco without the prior written consent of the Administrative Agent (acting on the instructions of the Required Lenders); provided that, upon obtaining such consent and
notwithstanding anything to the contrary in this Agreement, Sponsor may make a capital contribution to the applicable Holdco for the purchase of such membership interests. 

Section 8.11 Taxes. The Borrower shall not, and shall not permit any Relevant Party to, take any action or position that
would result in a Project being determined to have been Placed in Service prior to the date it was sold to the relevant Relevant Party. The Borrower shall not, and shall not permit any Subsidiary to, claim a tax credit under section 48 of the Code
for any Project with respect to which a Relevant Party has received a Grant. The Borrower shall not, and shall not permit any Relevant Party to, cause or permit any property that is part of a Project to be subject to the alternative depreciation
system under section 168(g) of the Code. 
 Section 8.12 Expenditures; Collateral Accounts; Structural Changes.

(a) The Borrower shall not, and shall not permit any Subsidiary to, incur Operating Expenses or otherwise pay the Manager, Operator and
Back-Up Servicer in the aggregate amounts in excess of the greater of: 
 (i) the budgeted amounts shown for Operating
Expenses in the applicable Operating Budget for such year; 
 (ii) 20% in the aggregate over the amount budgeted for
Operating Expenses in the then-current Base Case Model for the applicable year; and 

  
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			116		TLA CREDIT AGREEMENT

 (iii)(A) $125,000 in the aggregate for the Wholly Owned Opcos and
(B) $500,000 in the aggregate for the Tax Equity Opcos, 
 without the prior written consent of the Administrative Agent (acting on the instructions of
the Required Lenders and with such consent in respect of the Tax Equity Opcos not to be unreasonably withheld or delayed). 
 (b) The
Borrower shall not, and shall not permit any Subsidiary to, acquire or own any material asset other than the Projects, Portfolio Documents, Excluded REC Contracts, the Membership Interests and the proceeds thereof. 

(c) The Borrower shall not maintain, or permit any Relevant Party to maintain, any bank accounts other than (A) the Collateral Accounts
maintained by the Borrower, (B) the bank accounts of the Pledgor maintained pursuant to the Other Depository Agreement, (C) the bank accounts of each Tax Equity Opco maintained pursuant to the Tax Equity Account Agreements and (D) the
Tenant Company Accounts maintained by the Tenant Companies. 
 (d) The Borrower shall not, and shall not permit any Subsidiary to,
materially amend, modify or waive, or permit any material amendment, modification or waiver of (i) its organizational documents (except (A) for non-substantive or immaterial changes to organizational documents other than a Limited
Liability Company Agreement or Wholly Owned Limited Liability Company Agreement which, for the avoidance of doubt, shall not include any amendments that relate to corporate powers, corporate separateness or single-purpose entity provisions set forth
herein or therein or (B) as may be required by applicable Law, provided, that, any such change required by applicable Law shall be made only with prior notice to and consultation with the Administrative Agent) (ii) its legal
form or its capital structure (including the issuance of any options, warrants or other rights with respect thereto) or (iii) change its fiscal year, in each case without the consent of the Administrative Agent. 

(e) The Borrower shall not use any proceeds of any Loan except as permitted by applicable Law and for the purposes permitted in
Section 2.01, Section 2.02, Section 2.03 or Section 2.04. 
 Section 8.13 REC
Contracts and Transfer Instructions. Without limitation to Section 8.10(a), the Borrower shall not permit, and shall cause each Relevant Party not to, amend the Limited Liability Company Agreement or Wholly Owned Limited Liability
Company Agreement of any Opco to remove provisions (to the extent included therein) providing for the automatic transfer of RECs sold pursuant to an Excluded REC Contract. Without limiting Section 8.10(b), the Borrower shall not, and
shall not permit and Subsidiary to, enter into any REC Contract other than a Excluded REC Contract. 
 Section 8.14 Speculative
Transactions. The Borrower shall not, and shall cause each Relevant Party not to, engage in any Swap Agreement other than the Excluded REC Contracts and the Interest Rate Hedging Agreements. 

  
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 Section 8.15 Voting on Major Decisions. The Borrower shall ensure that no Loan Party
exercises its rights, authorities and discretions under any Tax Equity Document to consent to, approve, ratify, vote in favor of, or submit to the Tax Equity Member for such consent, approval, ratification or vote, any matter which requires approval
as a Major Decision, other than with the prior written consent of the Administrative Agent (acting on the instructions of the Required Lenders); provided, that, the Borrower shall not be restricted from communicating with any Tax
Equity Member in the ordinary course so long as such communications do not cause a Major Decision to be made without the Administrative Agent’s consent. 

Section 8.16 Transactions with Affiliates. The Borrower shall not, and shall ensure each Subsidiary shall not, make or cause any
payment to, or sell, lease, transfer or otherwise dispose of any of its Assets to, or purchase any Assets from, or enter into or make, replace, terminate or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with,
or for the benefit of, the Sponsor or its Affiliates or any of the Affiliates of the Borrower and each of their respective members and principals (each, an “Affiliate Transaction”), unless the Affiliate Transaction is upon terms and
conditions that are intrinsically fair, commercially reasonable and on terms no less favorable to such Relevant Party than those that would be available on an arms-length basis with an unrelated Person (other than (i) Restricted Payments
permitted to be made under Section 8.06 and (ii) the Transaction Documents in existence as at the Closing Date). 

Section 8.17 Limitation on Restricted Payments. Without limiting Section 8.10, the Borrower shall not, and shall
ensure each Subsidiary shall not, enter into any agreement, instrument or other undertaking that (i) restricts the ability of any Subsidiary to make a Restricted Payment (including pursuant to any reallocation of distribution percentages) or
(ii) restricts or limits the ability of any Loan Party to create, incur, assume or suffer to exist Liens on the property of such Person for the benefit of the Secured Parties with respect to the Obligations, except to the extent set out in the
Tax Equity Documents as of the Closing Date. 
 ARTICLE IX 

SEPARATENESS 

Section 9.01 Separateness. The Borrower acknowledges that the Administrative Agent and the Lender Parties are entering into
this Agreement in reliance upon each Relevant Party’s identity as a legal entity that is separate from any other Person. Therefore, from and after the Closing Date, the Borrower shall take all reasonable steps to maintain each Relevant
Party’s identity as a separate legal entity from each other Person and to make it manifest to third parties that the Relevant Parties are separate legal entities. Without limiting the generality of the foregoing, the Borrower agrees that it
shall not, and shall not permit any Subsidiary to: 
 (a) fail to hold all of its assets in its own name; 

  
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			118		TLA CREDIT AGREEMENT

 (b) except for payments made to a General Account governed by the terms of the Management
Agreement, commingle its assets with the assets of any of its members, Affiliates, principals or any other Person; 
 (c) maintain books,
records and agreements as official records and separate from those of the members, principals and Affiliates or any other Person; 
 (d)
maintain its bank accounts separate from the members, principals and Affiliates of any other Person; 
 (e) other than the Transaction
Documents and as otherwise expressly permitted by Section 8.16, enter into any Affiliate Transaction; 
 (f) fail to maintain
separate Financial Statements from those of its general partners, members, principals, Affiliates or any other Person; provided, however, that the Relevant Parties financial position, assets, liabilities, net worth and operating
results may be included in the consolidated Financial Statements of Sponsor, provided that (i) appropriate notation shall be made on such consolidated Financial Statements to indicate the separateness of each Relevant Party and the
Sponsor, to indicate that the Sponsor and each Relevant Party maintain separate books and records and to indicate that none of the Relevant Parties’ Assets and credit are not available to satisfy the debts and other obligations of the Sponsor
or any other Person and (ii) such Assets and liabilities shall be listed on each Relevant Party’s own separate balance sheet; 

(g) fail to promptly correct any known or suspected misunderstanding regarding its separate identity; 

(h) maintain its Assets in such a manner that it will be costly or difficult to segregate, ascertain or identify its individual assets from
those of any other Person; 
 (i) guarantee or become obligated, or hold itself as responsible, for the debts of any other Person, except
under the Guaranty and Security Agreement or the Guaranty and Pledge Agreement; 
 (j) hold out its credit as being available to satisfy
the obligations of any other Person, except under the Guaranty and Security Agreement or the Guaranty and Pledge Agreement; 
 (k) make any
loans or advances to any third party, including any member, principal or Affiliate of the Borrower, or any member, principal or Affiliate thereof, except as expressly permitted by the Loan Documents; 

(l) pledge its assets for the benefit of any other Person, except as expressly permitted under the Loan Documents; 

(m) identify itself or hold itself out as a division of any other Person or conduct any business in another name; 

  
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			119		TLA CREDIT AGREEMENT

 (n) fail to maintain adequate capital in light of its current and contemplated business
operations; 
 (o) acting solely in its own limited liability company name and not of any other Person, any of its officers or any of their
respective Affiliates, and at all times using its own stationery, invoices and checks separate from those of any other Person, any of its officers or any of their respective Affiliates; 

(p) acquire obligations or securities of its members, shareholders of other Affiliates, as applicable; 

(q) take any action that knowingly shall cause any Relevant Party to become insolvent; 

(r) fail to keep minutes of the actions of the member of any Relevant Party and observe all limited liability company and other
organizational formalities; 
 (s) fail to cause its members, managers, directors, officers, agents and other representatives to act at all
times with respect to each Relevant Party consistently and in furtherance of the foregoing and in the best interests of each Relevant Party; 

(t) fail to pay its own liabilities and expenses (including, as applicable, shared personnel and overhead expenses) only out of its own
funds, except as expressly provided under by the Loan Documents in respect of the Wholly Owned Opcos; or 
 (u) fail at any time to have an
independent director of Borrower or Pledgor (as defined in the applicable limited liability company agreement of the Borrower or Pledgor, as applicable). 

ARTICLE X 
 CONDITIONS
PRECEDENT 
 Section 10.01 Conditions of Initial Borrowing. The obligation of each Lender to make Loans and the
obligation of the Issuing Bank to issue the Letter of Credit on the Closing Date hereunder is subject to satisfaction of the following conditions precedent each in form and substance reasonably satisfactory to the Administrative Agent (acting on the
instructions of all Lenders and the Issuing Bank): 
 (a) The Administrative Agent’s receipt of the following, each of which shall be
originals or executed electronic copies (followed promptly by originals) unless otherwise specified, each properly executed by an Authorized Officer of the Borrower, each dated the Closing Date (or, in the case of certificates of governmental
officials, a recent date before the Closing Date): 
 (i) a Borrowing Notice in accordance with the requirements of
Section 2.01; 

  
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			120		TLA CREDIT AGREEMENT

 (ii) a Notice of LC Activity in accordance with the requirements of
Section 2.04 together with completed LC Application duly executed by the Borrower for the benefit of the Administrative Agent and submitted to the Issuing Bank (together with such other LC Documents applicable thereto) with a copy to the
Administrative Agent; 
 (iii) executed counterparts of this Agreement, together with all Exhibits and Schedules thereto,
sufficient in number for distribution to the Administrative Agent, each Lender and the Borrower; 
 (iv) the Cash Diversion
Guaranty; 
 (v) the Collateral Agency Agreement; 

(vi) the Depository Agreement; 

(vii) a Note executed by the Borrower in favor of each Lender requesting a Note; 

(viii) [***] Consent; 

(ix) the Management Consent Agreement; 

(x) the Omnibus Distribution and Contribution Agreement; 

(xi) all other Loan Documents; 

(xii) evidence satisfactory to the Administrative Agent that all warranties relating to the Projects will inure to the benefit
of, and be enforceable by, the Relevant Party following the purchase of such Projects; 
 (xiii) the Pledge Agreement; the
Pledge and Security Agreement; the Guaranty and Pledge Agreement; and the Guaranty and Security Agreement, in each case, duly executed by the applicable Relevant Party, together with: 

(A) certificates representing the pledged equity referred to therein (in the form required by the applicable limited liability
company agreement) accompanied by undated stock powers executed in blank and instruments evidencing any pledged debt indorsed in blank; 

(B) proper Financing Statements in form appropriate for filing under the applicable Uniform Commercial Code in order to
perfect the Liens created under the Collateral Documents (covering the Collateral described therein); 
 (C) evidence that
all other action that the Administrative Agent may deem necessary or desirable in order to perfect 

  
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			121		TLA CREDIT AGREEMENT

 
the Liens created under the Collateral Documents has been taken or will be taken on the Closing Date such that such Liens shall each constitute a first priority security interest; and 

(D) the results of a recent lien search in each of the jurisdictions in which UCC financing statement or other filings or
recordations should be made to evidence or perfect security interests in all assets of the Borrower, the Relevant Parties and the Contribution Parties and such search shall reveal no Liens on any of the assets of the Borrower, the Relevant Parties,
the Contribution Parties or otherwise on the Collateral, other than Permitted Liens and, in the case of the Contribution Parties, Liens arising in respect of the Indebtedness under the Existing Backleverage Facilities that shall be released on the
Closing Date pursuant to UCC-3 termination statements, payoff letters and other documentation reasonably satisfactory to the Administrative Agent); 

(xiv) fully executed copies of all Portfolio Documents on the Closing Date (other than Customer Agreements, of which at least
80% shall have been provided prior to the Closing Date) and the Project Information, together with such amendments to the Wholly Owned Documents as required by the Administrative Agent and the [***] Amendments, accompanied by an Officer’s
Certificate certifying: (A) that each such copy provided to the Administrative Agent is a true, correct and complete copy of such document (and includes all schedules, exhibits, attachments, supplements and amendments thereto and any related
protocols or side letters), (B) each such Portfolio Document (i) has been duly executed and delivered by the Sponsor and each Relevant Party party thereto and, to the Knowledge of Sponsor, Borrower and the Subsidiaries, the other parties
thereto, (ii) is in full force and effect and is enforceable against each the Sponsor, Relevant Party party thereto and, to the Knowledge of Sponsor, Borrower and the Subsidiaries, each other party thereto as of such date, (C) neither the
Sponsor nor any Relevant Party thereto nor, to the Knowledge of Sponsor, Borrower and each Subsidiary, any other party to such document is or, but for the passage of time or giving of notice or both, will be in breach of any material obligation
except, solely with respect to (i) Customer Agreements, where such breach (itself or when coupled with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect and (ii) Master Turnkey
Installation Agreements, where such breach (itself or when coupled with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect, (D) no Portfolio Document has an event of force majeure existing
thereunder except solely with respect to the Project Documents, where such event of force majeure (itself or when coupled with other events of force majeure under such Project Documents) could not reasonably be expected to have a Material Adverse
Effect and (E) all conditions precedent to the effectiveness of such documents have been satisfied or waived in writing; 

  
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			122		TLA CREDIT AGREEMENT

 (xv) correct and complete certified copies of the (i) audited Financial
Statements of Sponsor for the calendar year ended 2013 and (ii) unaudited Financial Statements of Sponsor and each Opco for the calendar quarter ended September 30, 2014, accompanied by the certifications contemplated by
Section 7.01(a)(i), (ii) and (vi). 
 (xvi) evidence, including customary insurance
certificates, that all insurance required to be obtained and maintained pursuant to the Loan Documents has been obtained and all premiums thereon have been paid in full; 

(xvii) a copy of the certificate of formation, limited liability company agreement, operating agreement or other organizational
documents of each Relevant Party and the Contribution Parties, together with such amendments to the organizational documents of the Loan Parties as required by the Administrative Agent, certified by the secretary of such Person as being true,
correct and complete copy of such document (and includes all schedules, exhibits, attachments, supplements and amendments thereto and any related protocols or side letters); 

(xviii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Authorized
Officers of the Relevant Parties and the Contribution Parties as the Administrative Agent may require authorizing, as applicable, the Loans and the guarantees given by the Loan Parties, the granting of the Liens under the Collateral Documents, the
consummation of the Contribution Transactions, the appointment of the Borrower as managing member of the Wholly Owned Opcos and the execution delivery and performance of this Agreement and the other Transaction Documents and evidencing the identity,
authority and capacity of each Authorized Officer thereof authorized to act as an Authorized Officer in connection with this Agreement and the other Loan Documents to which a Contribution Party or any Relevant Party is a party or is to be a party,
in each case, certified by the secretary of such Person; 
 (xix) such documents and certifications as the Administrative
Agent may reasonably require to evidence that each Relevant Party and each Contribution Party is duly formed, validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(xx) favorable opinions of counsel to the Relevant Parties and the Contribution Parties in relation to the Loan Documents, the
Tenant O&M Agreement and the Management Agreement, addressed to the Administrative Agent and each Secured Party from: 

  
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			123		TLA CREDIT AGREEMENT

 (A) Wilson Sonsini Goodrich & Rosati P.C., counsel for the Relevant
Parties and the Contribution Parties, including opinions regarding the attachment, perfection of security interests in Collateral and corporate matters (including, without limitation, enforceability, no consents, no conflicts with the Limited
Liability Company Agreements, Master Lease between the Inverted Lease Tax Equity Opcos and the Comerica Bank financing, and Investment Company Act matters); 

(B) an in-house opinion from counsel of the Sponsor, including opinions regarding corporate matters and no conflicts with
organizational documents, and other material contracts binding on the Relevant Parties and the Contribution Parties (including the Existing Backleverage Facilities); 

(xxi) a certificate of an Authorized Officer of each Relevant Party and each Contribution Party, either (A) attaching
copies of all consents, licenses and approvals required in connection with the Loans and the guarantees given by the Loan Parties, the granting of the Liens under the Collateral Documents, the consummation of the Distribution and Contribution
Transactions, the appointment of the Borrower as managing member of the Wholly Owned Opcos and the execution delivery and performance of this Agreement and the other Transaction Documents and the validity against the Sponsor and each Relevant Party
of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect and not subject to appeal, or (B) certifying that no such consents, licenses or approvals are so required; 

(xxii) a certificate signed by an Authorized Officer of the Borrower certifying (A) that the conditions specified in
Sections 10.01(h), 10.01(i), 10.01(j), 10.01(l) and 10.01(s) have been satisfied, (B) as to the solvency of the Borrower and the Subsidiaries, and (C) that there has been no event or circumstance since
December 31, 2013 that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect; 

(xxiii) the Closing Date Funds Flow Memorandum outlining the use of the Loans (including the repayment of the Indebtedness
under the Existing Backleverage Facilities) which shall be in compliance with Section 2.01(c); 
 (xxiv) the
then-current financial models for the Partnership Flip Tax Equity Opcos and the then-current financial model for the Inverted Lease Tax Equity Opcos; and 

(xxv) each other certificate or document as the Administrative Agent shall reasonably request. 

  
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			124		TLA CREDIT AGREEMENT

 (b) The Administrative Agent has received the Base Case Model demonstrating compliance with the
Debt Sizing Parameters, and [***]. 
 (c) The Administrative Agent has received a report from the Accounting Consultant addressed to the
Administrative Agent and the Lenders. 
 (d) Each Lender Party has received the initial Operating Budget required pursuant to
Section 7.01(e)(i). 
 (e) The Lender Parties have received all documentation and other information required by regulatory
authorities under the applicable “know your customer” and Anti-Money Laundering Laws, including the PATRIOT Act. 
 (f) 

(i) All fees required to be paid to the Agents and the Depositary Agent on or before the Closing Date, shall have been paid or
shall be, contemporaneously with the Closing, paid. 
 (ii) All fees required to be paid to the Lenders and the Joint Lead
Arrangers on or before the Closing Date pursuant to the Fee Letters, shall have been paid or shall be, contemporaneously with the Closing, paid. 

(iii) All Additional Expenses due and payable as of the Closing Date shall have been paid in full by the Borrower. 

(iv) All other costs and expenses required to be paid pursuant to Section 5.07 for which evidence has been
presented (including third-party fees and out-of-pocket expenses of lenders counsel, the Insurance Consultant, Independent Engineer, Accounting Consultant, [***] and other advisors or consultants retained by the Administrative Agent) on or before
the Closing Date. 
 (v) The payment of all fees, costs and expenses to be paid on the Closing Date will be reflected in the
Closing Date Funds Flow Memorandum and funding instructions given by the Borrower to the Administrative Agent and the Depository Bank prior to the Closing Date. 

(g) The Borrower has established the Collateral Accounts and, except to the extent to be funded with a Letter of Credit on the Closing Date,
has deposited, or shall contemporaneously with the Closing deposit, into the Debt Service Reserve Account the Required Debt Service Reserve Amount. To the extent applicable, the funding of the Debt Service Reserve Account will be reflected in the
Closing Date Funds Flow Memorandum and funding instructions given by the Borrower to the Administrative Agent and the Depository Bank prior to the Closing Date. 

  
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			125		TLA CREDIT AGREEMENT

 (h) The representations and warranties of the Sponsor and the Relevant Parties contained in
Article VI or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the Closing Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date. 

(i) No action or proceeding has been instituted or threatened in writing by any Governmental Authority against the Sponsor or any Relevant
Party that seeks to impair, restrain prohibit or invalidate the transactions contemplated by this Agreement and the other Loan Documents or regarding the effectiveness or validity of any required Permits. 

(j) No Default or Event of Default shall exist, or would result from the borrowing or from the application of the proceeds thereof. 

(k) The Administrative Agent shall have received technical reports on the Projects to be owned by the Subsidiaries prepared by the
Independent Engineer and addressed to the Administrative Agent and the Lenders. 
 (l) The Cash Available for Debt Service included under
the Base Case Model does not include cash flows from any Project that is not an Eligible Project and takes into account the impact on Operating Revenues and Operating Expenses from each waiver provided by a Tax Equity Member. Taking into account all
Projects proposed to be included in the Collateral as of the Closing Date, each Eligible Project (i) met the requirements for the purchase of the Projects at the time of sale pursuant to such applicable Master Purchase Agreement or
(ii) those requirements in Schedule 3 of the applicable Master Purchase Agreement were amended or waived and notice of any such waiver or amendment has been provided to the Administrative Agent. 

(m) The Administrative Agent shall have received (i) an insurance report from the Insurance Consultant addressed to the Administrative
Agent and the Lenders and (ii) an insurance certificate from the Borrower’s insurance broker identifying the underwriters, types of insurance, applicable insurance limits and policy terms consistent with such insurance report. 

(n) [Reserved] 
 (o) Evidence
reasonably satisfactory to the Administrative Agent that Manager has directed the Account Bank to sweep any amounts deposited into the blocked accounts subject to the Account Control Agreements to the Collections Account immediately upon receipt
thereof, or that Manager has undertaken such obligation pursuant to Section 4.01(f), including that the Tenant Company Standing Instruction shall have been duly executed and delivered to each applicable Account Bank. 

(p) Prior to or, pursuant to a closing protocol acceptable to the Administrative Agent, contemporaneously with the occurrence of the Closing
Date: 

  
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			126		TLA CREDIT AGREEMENT

 (i) all conditions to the consummation of the Distribution and Contribution
Transactions set forth in the Omnibus Distribution and Contribution Agreement shall have been satisfied or the fulfillment of any such conditions shall have been waived with the consent of Administrative Agent (acting on the instructions of the
Required Lenders) such that the Distribution and Contribution Transactions shall become effective in accordance with the terms of the Omnibus Distribution and Contribution Agreement; and 

(ii) the Omnibus Distribution and Contribution Agreement shall be in full force and effect and no provision thereof shall have
been modified or waived, in each case without the consent of Administrative Agent (acting on the instructions of all Lenders). 
 (q) Prior
to or, pursuant to a closing protocol acceptable to the Administrative Agent, contemporaneously with the occurrence of the Closing Date, the Relevant Parties and the Sellers shall have (i) repaid in full all Indebtedness under the Existing
Backleverage Facilities, (ii) terminated any commitments to lend or make other extensions of credit thereunder, (iii) delivered to Administrative Agent all documents or instruments necessary to release all Liens on the Collateral securing
any Indebtedness (other than Permitted Liens) and the Indebtedness under the Existing Backleverage Facilities on the Closing Date (including receipt of duly executed payoff letters, UCC-3 termination statements and consent agreements) and
(iv) made arrangements satisfactory to Administrative Agent with respect to the cancellation of any letters of credit outstanding thereunder. 

(r) 
 (i) The
Other Loan Documents have been duly executed and are in full force and effect. 
 (ii) Contemporaneously with the occurrence
of the Closing Date, the conditions precedent to the “Initial Term Loans” under the Other Credit Agreement shall have been satisfied or waived with the consent of the Administrative Agent (acting on the instructions of all Lenders) such
that they shall be funded on the Closing Date pursuant to a closing protocol acceptable to the Administrative Agent. 
 (s) No Holdco has
been removed as managing member under the Limited Liability Company Agreement for any Tax Equity Opco, nor has any Holdco given or received written notice of an action, claim or threat of such removal. 

Section 10.02 Conditions of Subsequent Term Loan Borrowings. The obligation of each Lender to make Loans under
Section 2.02 in respect of a Project Pool is subject to satisfaction of the following conditions precedent each in form and substance reasonably satisfactory to the Administrative Agent (acting on the instructions of all Lenders and the
Issuing Bank): 

  
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			127		TLA CREDIT AGREEMENT

 (a) The Closing Date shall have occurred and the Borrower shall have delivered a Borrowing
Notice in accordance with the requirements of Section 2.02. 
 (b) The Administrative Agent’s receipt of the following,
each of which shall be originals or electronic copies (followed promptly by originals to the extent extant) unless otherwise specified, each properly executed by an Authorized Officer of the signing Borrower, each dated as of the date of such
borrowing (or, in the case of certificates of governmental officials, a recent date before such date of borrowing): 
 (i) a
Note executed by the Borrower in favor of each Lender requesting a Note; 
 (ii) the Borrower shall have entered into the
Secured Interest Rate Hedging Agreements; 
 (iii) evidence satisfactory to the Administrative Agent that all warranties
relating to the Projects in the Project Pool inure to the benefit of, and are enforceable by, the relevant Subsidiary; 

(iv) a certificate signed by an Authorized Officer of the Borrower certifying (A) that the conditions specified in
Sections 10.02(d) and 10.02(e), 10.02(f), 10.02(g), 10.02(h), 10.02(j) and 10.02(n) have been satisfied and (B) that there has been no event or circumstance since the later of the Closing Date
and the making of the last Loans pursuant to this Section 10.02 that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect; 

(v) a copy of fully executed copies of all Project Documents and other Portfolio Documents entered into in connection with the
Project Pool together with the Project Information relating to each Eligible Project in the Project Pool, accompanied by an Officer’s Certificate certifying: (A) that each such copy provided to the Administrative Agent is a true, correct
and complete copy of such document (and includes all schedules, exhibits, attachments, supplements and amendments thereto and any related protocols or side letters), (B) each such Portfolio Document (i) has been duly executed and delivered
by the Sponsor and each Relevant Party party thereto and, to the Knowledge of Sponsor, Borrower and the Subsidiaries, the other parties thereto, (ii) is in full force and effect and is enforceable against the Sponsor and each Relevant Party
party thereto and, to the Knowledge of Sponsor, Borrower and the Subsidiaries, each other party thereto as of such date, (C) neither the Sponsor nor any Relevant Party party thereto nor, to the Knowledge of Sponsor, Borrower and each
Subsidiary, any other party to such document is or, but for the passage of time or giving of notice or both, will be in breach of any material obligation except, solely with respect to (i) Customer Agreements, where such breach (itself or when
coupled with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect and (ii) Master Turnkey Installation Agreements, 

  
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			128		TLA CREDIT AGREEMENT

 
where such breach (itself or when coupled with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect, (D) no Portfolio Document has an
event of force majeure existing thereunder except solely with respect to the Project Documents, where such event of force majeure (itself or when coupled with other events of force majeure under such Project Documents) could not reasonably be
expected to have a Material Adverse Effect and (E) all conditions precedent to the effectiveness of such documents have been satisfied or waived in writing; 

(vi) evidence, including customary insurance certificates, that all insurance required to be obtained and maintained pursuant
to the Loan Documents has been obtained and all premiums thereon have been paid in full; 
 (vii) a copy of the purchase and
sale confirmation delivered under the applicable Master Purchase Agreement in respect of the Projects in the Project Pool, including any subsequent confirmations provided to Owner XVII, Owner XVIII or their applicable Tax Equity Members that the
Projects in the Project Pool have been Placed in Service; 
 (viii) the then-current true-up financial models for Owner XVII
and Owner XVIII; 
 (c) Each Lender Party has received the Base Case Model, demonstrating compliance with the Debt Sizing Parameters and
updated to reflect the borrowing made on such date. A revised Amortization Schedule has been delivered to the Borrower and each Lender in respect of the funding of the Delayed Draw Loans and has been confirmed by all parties. 

(d) The representations and warranties of the Borrower and each other Loan Party contained in Article VI or any other Loan Document,
or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all material respects (without duplication of any materiality qualifier contained therein) on and as of such
borrowing date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (without duplication of any materiality qualifier contained
therein) as of such earlier date. 
 (e) No action or proceeding has been instituted or threatened in writing by any Governmental Authority
against the Sponsor or any Relevant Party that seeks to impair, restrain prohibit or invalidate the transactions contemplated by this Agreement and the other Loan Documents or regarding the effectiveness or validity of any required Permits. 

(f) No Default or Event of Default shall exist, or would result from the borrowing or from the application of the proceeds thereof. 

  
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			129		TLA CREDIT AGREEMENT

 (g) The Cash Available for Debt Service included under the Base Case Model from the Project Pool
does not include cash flows from any Project that is not an Eligible Project and takes into account the impact on Operating Revenues and Operating Expenses from each waiver provided by a Tax Equity Member. Taking into account all Projects owned by
Owner XVII, Owner XVIII and proposed to be included in the Collateral as of such date: (i) each of the fund constraints set forth in the related Master Purchase Agreement has been satisfied, (ii) the minimum systems in service requirement
set forth in such Master Purchase Agreement shall have been achieved, and (iii) each Project met the “Qualifications of Projects” requirements at the time of sale pursuant to such Master Purchase Agreement or, such requirements
referenced in clauses (i), (ii) and/or (iii) were waived or amended and a copy of any such waiver or amendment has been provided to the Administrative Agent. 

(h) Each of the Projects in the Project Pool is an Eligible Project. 

(i) Except to the extent funded with a Letter of Credit, the Debt Service Reserve Account is fully funded with the Required Debt Service
Reserve Amount as of such date. 
 (j) No Distribution Trap shall have occurred and be continuing. 

(k) Contemporaneously with the occurrence of the Closing Date, the conditions precedent to the applicable “Delayed Draw Term Loans”
under the Other Credit Agreement shall have been satisfied or waived with the consent of Administrative Agent (acting on the instructions of all Lenders) such that they shall be funded on the Closing Date pursuant to a closing protocol acceptable to
the Administrative Agent. 
 (l) All Additional Expenses due and payable as of such date shall have been paid in full by the Borrower and
all other costs and expenses required to be paid per Section 5.07 for which evidence has been presented (including third-party fees and out-of-pocket expenses of lenders counsel, the Insurance Consultant, Independent Engineer, Accounting
Consultant, [***] and other advisors or consultants retained by the Administrative Agent) on or before the Subsequent Advance Date. The payment of all fees, costs and expenses to be paid on the Subsequent Advance Date will be reflected in the
Transfer Date Certificate and/or funding instructions given by the Borrower to the Administrative Agent and the Depository Bank prior to the Subsequent Advance Date. 

(m) The Administrative Agent has not received any reliable and verifiable information subsequent to the Closing Date in respect of the IG
Investigation or the IRS Audit that could reasonably be expected to have a Material Adverse Effect. 
 (n) No Holdco has been removed as
managing member under the Limited Liability Company Agreement for any Tax Equity Opco, nor has any Holdco given or received written notice of an action, claim or threat of such removal. 

  
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			130		TLA CREDIT AGREEMENT

 Section 10.03 Conditions of Working Capital Loans. The obligation of each
Lender to make Working Capital Loans under Section 2.03 is subject to satisfaction of the following conditions precedent each in form and substance reasonably satisfactory to the Administrative Agent (acting on the instructions of all
the Working Capital Lenders): 
 (a) The Closing Date shall have occurred and the Borrower shall have delivered a Borrowing Notice and the
Administrative Agent (acting on the instructions of the Required Lenders) shall have approved the purpose for which the Working Capital Loan is to be applied in accordance with the requirements of Section 2.03. 

(b) The Administrative Agent’s receipt of the following, each of which shall be originals or electronic copies (followed promptly by
originals to the extent extant) unless otherwise specified, each properly executed by an Authorized Officer of the signing Borrower, each dated as of the date of such borrowing (or, in the case of certificates of governmental officials, a recent
date before such date of borrowing): 
 (i) a Note executed by the Borrower in favor of each Lender requesting a Note; 

(ii) a certificate signed by an Authorized Officer of the Borrower certifying (A) that the conditions specified in
Sections 10.03(c) and 10.03(d) have been satisfied; 
 (c) The representations and warranties of the Borrower and each other
Loan Party contained in Article VI or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all material respects (without duplication
of any materiality qualifier contained therein) on and as of such borrowing date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material
respects (without duplication of any materiality qualifier contained therein) as of such earlier date. 
 (d) No Default or Event of
Default shall exist, or would result from the borrowing or from the application of the proceeds thereof. 
 (e) All Additional Expenses due
and payable as of such date shall have been paid in full by the Borrower and all other costs and expenses required to be paid per Section 5.07 for which evidence has been presented (including third-party fees and out-of-pocket expenses
of lenders counsel, the Insurance Consultant, Independent Engineer, Accounting Consultant, [***] and other advisors or consultants retained by the Administrative Agent) on or before the funding date. 

Section 10.04 Conditions of Letter of Credit Issuance. The obligation of the Issuing Bank to issue, extend or increase the
Stated Amount of the Letter of Credit under Section 2.04 is subject to satisfaction of the following conditions precedent each in form and substance reasonably satisfactory to the Administrative Agent (acting on the instructions of the
Issuing Bank and all the LC Lenders): 

  
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			131		TLA CREDIT AGREEMENT

 (a) The conditions precedent under Section 10.01 shall have been satisfied or waived
Borrower shall have delivered a Notice of LC Activity in accordance with the requirements of Section 2.04. 
 (b) The
Administrative Agent and the Issuing Bank shall have received a certificate signed by an Authorized Officer of the Borrower certifying that the conditions specified in Sections 10.04(c) and 10.04(d) have been satisfied, which shall be
an original or an electronic copy (followed promptly by originals to the extent extant) unless otherwise specified, each properly executed by an Authorized Officer of the signing Borrower, each dated as of the date of such issuance. 

(c) During the Availability Period, the representations and warranties of the Borrower and each other Loan Party contained in Article
VI or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all material respects (without duplication of any materiality qualifier
contained therein) on and as of such borrowing date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (without duplication of
any materiality qualifier contained therein) as of such earlier date. 
 (d) No Default or Event of Default shall exist, or would result
from the borrowing or from the application of the proceeds thereof. 
 ARTICLE XI 

EVENTS OF DEFAULT; REMEDIES 

Section 11.01 Events of Default. Any of the following shall constitute an event of default (“Event of
Default”) hereunder: 
 (a) Principal and Interest. Failure of a Loan Party to pay in accordance with the terms of this
Agreement, (i) any interest on any Loan within three (3) Business Days after the date such sum is due, (ii) any principal with respect to any Loan when such sum is due, or (iii) any other fee, cost, charge or other sum due under
this Agreement or any other Loan Document within five (5) Business Days after the date such sum is due; 
 (b) Misstatements.
Any (i) representation or warranty made by the Sponsor or the Relevant Parties in the Loan Documents, or any Financial Statement furnished pursuant thereto, or (ii) certificate or any Financial Statement made or prepared by, under the
control of or on behalf of the Sponsor or the Relevant Parties and furnished to the Administrative Agent or any Lender pursuant to this Agreement or any other Loan Document (including, without limitation, in a certificate of an Authorized Officer
delivered pursuant to the Loan Documents) shall prove to have been untrue or misleading in any material respect as of the date made; provided, however, that if any such misstatement is capable of being remedied and has not caused a
Material Adverse Effect, the Borrower may correct such misstatement by curing such misstatement (or the effect thereof) and delivering a written correction of such misstatement to the Administrative Agent, in the form and substance satisfactory to
the Administrative Agent, within thirty (30) days of (x) obtaining Knowledge of such misstatement or (y) receipt by the Borrower of written notice from the Administrative Agent of such default; 

  
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			132		TLA CREDIT AGREEMENT

 (c) Automatic Defaults. Any default by any Relevant Party in the observance and
performance of or compliance with Section 7.02, Section 7.05, Section 7.11, Section 7.24(a), Section 7.25, Section 7.26 and ARTICLE VIII. Any failure by the Sponsor to
pay any amount due and payable under the Cash Diversion Guaranty. 
 (d) Other Defaults. Any default by the Sponsor, Borrower or any
Relevant Party in the observance and performance of or compliance with any other covenant or agreement contained in this Agreement or any other Loan Document, a Tenant O&M Agreement or the Management Agreement (other than as provided in
paragraphs (a) through (c) of this Section 11.01), which default shall continue unremedied for a period of (i) 10 days with respect to a breach of Section 7.13, (ii) 5 Business Days with respect to a
breach of Section 4.01(f) and (iii) 30 days for any other covenant to be performed or observed by it under this Agreement or any other Loan Document and not otherwise specifically provided for elsewhere in this Article XI, in
each case, after the earlier of (x) receipt by the Borrower of written notice from the Administrative Agent of such default or (y) obtaining Knowledge of any such default; provided that the thirty (30) day period referred to in
clause (ii) above may be extended by an additional forty-five (45) days, in the event that such default has not been cured within the initial thirty (30) day period, such default remains capable of being cured within the additional
forty-five (45) day period, no Material Adverse Effect has resulted from such default and Borrower continues to diligently pursue cure of such default. 

(e) Involuntary Bankruptcy; Appointment of Receiver, etc. (i) A court enters a decree or order for relief with respect to Sponsor
or any Relevant Party in an Involuntary Bankruptcy, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state Law; (ii) the occurrence and continuation of any of the following events for
sixty (60) days unless dismissed or discharged within such time: (w) an involuntary case under the Bankruptcy Code or any applicable bankruptcy, insolvency or other similar Law now or hereafter in effect, is commenced, in which Sponsor or
any Relevant Party is a debtor or any portion of the Collateral or any Membership Interest is property of the estate therein, (x) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or
other officer having similar powers over Sponsor or any Relevant Party, over all or a substantial part of its property, is entered, (y) an interim receiver, trustee or other custodian is appointed without the consent of Sponsor or any Relevant
Party for all or a substantial part of the property of such Person or (z) a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Sponsor or any Relevant Party; 

(f) Voluntary Bankruptcy; Appointment of Receiver, etc. (i) An order for relief is entered with respect to Sponsor or any
Relevant Party, or Sponsor or any Relevant Party commences a voluntary case under the Bankruptcy Code or any applicable bankruptcy, insolvency or other similar Law now or hereafter in effect, or consents to the entry of an order for relief in an
involuntary case or to the conversion of an involuntary case to a voluntary case under any such Law or consents to the appointment of or taking possession by a receiver, trustee or other custodian for Sponsor or any Relevant Party, for all or a
substantial part of the property 

  
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			133		TLA CREDIT AGREEMENT

 
of Sponsor or any Relevant Party; (ii) Sponsor or any Relevant Party makes any assignment for the benefit of creditors; (iii) Sponsor or any Relevant Party shall be unable, or shall
fail generally, or shall admit in writing its inability, to pay its debts as such debts become due or (iv) the board of directors or other governing body of Sponsor or any Relevant Party adopts any resolution or otherwise authorizes action to
approve any of the actions referred to in this Section 11.01(f); 
 (g) Material Judgment. Any final money judgment,
writ or warrant of attachment or similar process involving, individually or in aggregate at any time, an amount in excess of $1,000,000 (to the extent not adequately covered by insurance as to which a solvent, reputable and Independent insurance
company, which at least meets the Credit Requirements, has acknowledged coverage in writing to the Borrower and such acknowledgment is provided to the Administrative Agent) shall be entered or filed against the Borrower or any of the other Relevant
Parties or any of their respective Assets and shall remain undischarged, unvacated, unbonded or unstayed for a period of thirty (30) days (or in any event later than five (5) days prior to the date of any proposed sale thereunder). 

(h) Impairment of Loan Documents. At any time after the execution and delivery thereof, (i) this Agreement or any other Loan
Document ceases to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms hereof or thereof or on the Debt Termination Date) or shall be declared null and void, or the Administrative Agent or any
Lender shall not have or shall cease to have a valid and perfected Lien in any Collateral or the Membership Interests purported to be covered by the Loan Documents with the priority required by the relevant Loan Document or (ii) the Borrower,
Sponsor or any Relevant Party thereto shall contest the validity or enforceability of any Loan Document in writing or deny in writing that it has any further liability, including with respect to future advances by any Lender, under any Loan Document
to which it is a party. 
 (i) ERISA. The Borrower, any Loan Party or, except as would not result in a Material Adverse Effect, any
of their respective ERISA Affiliates establishes any Employee Benefit Plan or Multiemployer Plan, or commences making contributions to (or becomes obligated to make contributions to) any Employee Benefit Plan or Multiemployer Plan. 

(j) Change of Control. Any Change of Control shall have occurred. 

(k) Removal of Managing Member. 

(i) Any Holdco shall have been removed as the “managing member” of any Project Company. The receipt of any written
notice, claim or threat of removal from the Tax Equity Member shall be a “Default” for all purposes hereunder until rescinded in writing by such Tax Equity Member and such event shall mature into an “Event of Default” if the
Holdco default that is the subject of such written notice, claim or threat is not cured within the applicable period prior to effectiveness of removal provided under the Limited Liability Company Agreement. 

  
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			134		TLA CREDIT AGREEMENT

 (ii) The Sponsor shall have been removed as the “Operator” of any Tax
Equity Opco O&M Agreement. The receipt of any written notice, claim or threat of removal from any Tax Equity Opco shall be a “Default” for all purposes hereunder until rescinded in writing by such Tax Equity Opco and such event shall
mature into an “Event of Default” if the Operator default that is the subject of such written notice, claim or threat is not cured within the applicable period prior to effectiveness of removal provided under the applicable Tax Equity Opco
O&M Agreement. 
 (l) Abandonment of Servicing. (i) The transition to a successor Operator to perform the “Project
Services” (as defined within an O&M Agreement) is not complete within thirty (30) days after termination of an Operator, (ii) the transition to a successor Manager under a Management Agreement is not complete within thirty
(30) days after termination of the Manager, (iii) a replaced Operator or Manager fails to comply with its transition requirements under a Back-Up Servicing Agreement or (iv) an O&M Agreement is not renewed on its expiry date in
accordance with its terms or otherwise in a form and substance acceptable to the Administrative Agent (acting on the instructions of the Required Lenders). 

Section 11.02 Acceleration and Remedies. (a) Upon the occurrence and during the continuance of any Event of Default and
at any time thereafter during the continuance of such Event of Default, the Administrative Agent shall, at the request of the Required Lenders, take any or all of the following actions, at the same or different times: (i) terminate any
outstanding Commitments, and thereupon any such outstanding Commitments shall terminate immediately; (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and
payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall
become due and payable immediately, and the Borrower shall Cash Collateralize the LC Exposure, and (iii) make a demand on any Acceptable DSR Letter of Credit provided with respect to the Debt Service Reserve Account, in each case, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any Event of Default described in Section 11.01(e) or (f), any outstanding Commitments shall automatically
terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower, shall automatically become due and payable, and the Cash Collateralization of the LC Exposure shall
automatically be required, in each case, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. Upon the occurrence and during the continuance of any Event of Default, in addition to the
exercise of remedies set forth in clauses (i), (ii) and (iii) above, each Secured Party shall be, subject to the terms of the Collateral Agency Agreement, entitled to exercise the rights and remedies available to such Secured Party
under and in accordance with the provisions of the other Financing Documents to which it is a party or any Applicable Law. 
 (b) Upon the
occurrence and during the continuation of an Event of Default, all or any one or more of the rights, powers, privileges and other remedies available to the Administrative Agent against the Borrower under this Agreement or any of the other Loan

  
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			135		TLA CREDIT AGREEMENT

 
Documents, or at Law or in equity, may be exercised by the Administrative Agent (acting on the instructions of the Required Lenders) at any time and from time to time, whether or not all or any
of the Obligations shall be declared due and payable, and whether or not the Administrative Agent shall have commenced any foreclosure proceeding or other action for the enforcement of its rights and remedies under any of the Loan Documents with
respect to the Collateral and the proceeds from any of the foregoing. Any such actions taken by the Administrative Agent shall be cumulative and concurrent and may be pursued independently, singly, successively, together or otherwise, at such time
and in such order as the Administrative Agent may determine in its sole discretion, to the fullest extent permitted by Law, without impairing or otherwise affecting the other rights and remedies of the Administrative Agent permitted by Law, equity
or contract or as set forth herein or in the other Loan Documents. Without limiting the generality of the foregoing, if an Event of Default is continuing (i) to the fullest extent permitted by Law, the Administrative Agent shall not be subject
to any “one action” or “election of remedies” Law or rule, and (ii) all liens and other rights, remedies or privileges provided to the Administrative Agent shall remain in full force and effect until the Administrative Agent
has exhausted all of its remedies against the Collateral and the proceeds from any of the foregoing or the Obligations have been paid in full. 

(c) The rights and remedies set forth in this Section 11.02 are in addition to, and not in limitation of, any other right or
remedy provided for in this Agreement or any other Loan Document. 
 (d) Anything herein to the contrary notwithstanding, if and for so
long as a Lender is a Tax Exempt Person, such Lender shall not succeed to the rights of any Holdco or the Borrower as a direct or indirect owner of any Tax Equity Opco, a Wholly Owned Opco, or an assignee of any such Person, until after the
Recapture Period for the last Project Placed in Service with respect to the Person(s) of which the Lender would become a direct or indirect owner, regardless whether or not exists an Event of Default. 

ARTICLE XII 

ADMINISTRATIVE AGENT 

Section 12.01 Appointment and Authority. 

(a) Each of the Lenders hereby irrevocably appoints Investec Bank plc to act on its behalf as the Administrative Agent hereunder and under
the other Loan Documents 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 hereof or thereof, together with such actions and powers as are
reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Lender Parties and no Relevant Party nor the Sponsor shall have rights of a third party beneficiary of any of such provisions. It is understood and
agreed that the use of the term “Administrative Agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express)
obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

  
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			136		TLA CREDIT AGREEMENT

 Section 12.02 Rights as a Lender. The Person serving as the 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 the Administrative Agent and the term “Lender” or “Lenders” shall, unless
otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own
securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any Relevant Party or their Affiliates as if such Person were not the Administrative Agent hereunder and without any
duty to account therefor to the Lenders. 
 Section 12.03 Exculpatory Provisions. The Administrative Agent shall not have
any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

(b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for
herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary
to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law; and 

(c) shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 

The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the
Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 13.03 and 11.02)
or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice
describing such Default is given in writing to the Administrative Agent by the Borrower or a Lender. 
 The Administrative Agent 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 Loan Document, (ii) the contents of any certificate, report or

  
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			137		TLA CREDIT AGREEMENT

 
other document delivered hereunder or thereunder 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 therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction
of any condition set forth in Article X or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

Section 12.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur
any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine
and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur
any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, which by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is
satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower),
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 12.05 Delegation of Duties.

The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document
by or through any one or more sub Administrative Agents appointed by the Administrative Agent. The Administrative Agent and any such sub Administrative Agent may perform any and all of its duties and exercise its rights and powers by or through
their respective Related Parties. The exculpatory provisions of this Article XII shall apply to any such sub Administrative Agent and to the Related Parties of the Administrative Agent and any such sub Administrative 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. The Administrative Agent shall not be responsible for the negligence or misconduct of any
sub-Administrative Agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such
sub-Administrative Agents. 
 Section 12.06 Resignation of Administrative Agent.

(a) The Administrative Agent may at any time give notice of its resignation to the Lenders, the Depositary Agent, and the Borrower. Upon
receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Borrower (not to be unreasonably withheld or delayed), unless a Default or an Event of Default shall have

  
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			138		TLA CREDIT AGREEMENT

 
occurred and is continuing, in which case the consent of the Borrower shall not be required, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of
any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its
resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders, appoint a
successor Administrative Agent meeting the qualifications set forth above. Such resignation shall become effective in accordance with such notice on the Resignation Effective Date and upon acceptance by the successor Administrative Agent. 

(b) With effect from the Resignation Effective Date (1) the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder and under the other Loan Documents and (2) except for any indemnity payments or other amounts then owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or
through the Administrative Agent shall instead be made by or to each Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Administrative Agent (other than as provided in Section 5.09(h) and
other than any rights to indemnity payments or other amounts owed to the retiring Administrative Agent as of the Resignation Effective Date), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder
or under the other Loan Documents (if not already discharged therefrom as provided above in this Section 12.06). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article XII and Sections 5.07 and
5.08 shall continue in effect for the benefit of such retiring Administrative Agent, its sub Administrative Agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring
Administrative Agent was acting as Administrative Agent. 
 Section 12.07 Non-Reliance on Administrative Agent and Other
Lenders. Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties 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 Loan Document or any related agreement or any document
furnished hereunder or thereunder. 
 Section 12.08 Administrative Agent May File Proofs of Claim. In case of the pendency
of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the 

  
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			139		TLA CREDIT AGREEMENT

 
principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the
Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole
amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the
Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective Administrative Agents and counsel and all other amounts due the Lenders
and the Administrative Agent under Sections 5.06, 5.07 and 5.08) allowed in such judicial proceeding; and 
 (b) to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver,
assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent
to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its Administrative Agents and counsel,
and any other amounts due the Administrative Agent under Sections 5.06, 5.07 and 5.08. 
 Nothing contained herein
shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender to
authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 
 Section 12.09
Appointment of Collateral Agent and Depositary Agent. The Issuing Bank and each Lender hereby consents and agrees to the appointment of the Collateral Agent and the Depositary Agent respectively in accordance with the Collateral Agency
Agreement and the Depository Agreement and authorize each such Agent in such capacity to take such action on its behalf under the provisions of the Collateral Documents and to exercise such powers and perform such duties as are expressly delegated
to it by the terms of the Collateral Documents, together with such other powers as are reasonably incidental thereto. The Collateral Agent and Depository Bank shall each be an express third party beneficiary of Section 13.01(b)(vii),
Section 5.07 and Section 5.08. 
 Section 12.10 Joint Lead Arrangers. The Joint Lead Arrangers
shall not have any duties or responsibilities hereunder in their capacities as such. 

  
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			140		TLA CREDIT AGREEMENT

 ARTICLE XIII 

MISCELLANEOUS 

Section 13.01 Waivers; Amendments. 

(a) No Deemed Waivers; Remedies Cumulative. No failure or delay by the Administrative Agent or any Lender in exercising any right or
power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or
the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by Section 13.01(b), and then such waiver or consent shall be effective only in the specific instance and
for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge
of such Default at the time. 
 (b) Amendments. No amendment, supplement, modification or waiver of any provision of this Agreement
or any other Loan Document, and no consent to any departure by the Borrower therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower, as the case may be, and acknowledged by the Administrative Agent, and each
such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such waiver and no such amendment, supplement or modification shall: 

(i) increase the amount or extend the expiration date of any Commitment without the written consent of the Issuing Bank and
each Lender adversely affected thereby; 
 (ii) reduce or forgive the principal amount or extend the final scheduled date of
maturity of any Loan, extend the scheduled date of any amortization payment in respect of any Loan, reduce the stated rate of any interest or fee payable under this Agreement (except in connection with the waiver of applicability of any post-default
increase in interest rates (which waiver shall be effective with the consent of the Required Facility Lenders of each adversely affected Facility)) or extend the scheduled date of any payment thereof, in each case, without the written consent of the
Issuing Bank and each Lender adversely affected thereby; 
 (iii) amend, modify or waive any provision of ARTICLE V in
a manner that would alter the pro rata sharing of payments required thereunder, without the written consent of each Lender or amend Section 13.17 without the written consent of each Lender Party adversely affected thereby; 

  
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 (iv) change the voting rights of the Issuing Bank or the Lenders under this of
this Section 13.01(b) or the definition of the term “Required Lenders” or “Required Facility Lenders” or any other provision hereof specifying the number or percentage of Lenders or other Secured Parties 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 and the Issuing Bank; or 

(v) release all or a material portion of the Collateral, or any Loan Party from their obligations under the Collateral
Documents or any Membership Interests without the written consent of the Issuing Bank and each Lender, in each case, other than in connection with a disposition permitted hereunder; and provided that no such agreement shall amend, modify or
otherwise affect the rights or duties of any Lender Party hereunder without the prior written consent of such Lender Party; 

(vi) amend, modify or waive any provision of Article XII or any other provision of any Loan Document that would
adversely affects the Administrative Agent without the written consent of the Administrative Agent; 
 (vii) amend, modify or
waive any provision of the Collateral Agency Agreement or the Depository Agreement or any other provision of any Loan Document that would adversely affect the Collateral Agent or Depositary Agent without the written consent of such affected Agent;

 (viii) amend, modify or waive any provision of Section 2.04 (or any other provision of this Agreement or any
other Loan Document that specifically provides for rights and obligations of the Issuing Bank) without the written consent of the Issuing Bank; 

(ix) change the order of priority of payments set forth in Section 4.02(b) of the Depository Agreement or
Section 2.03 of the Collateral Agency Agreement without the written consent of each Lender Party directly affected thereby; 

(x) amend, modify or waive any provision of this Agreement in a manner that would adversely affect the Term Lenders, the
Revolving Lenders or the LC Lenders disproportionately to any Lenders in respect of any other Class of Loan without the consent of all the Required Facility Lenders of the adversely affected Facility; and 

(xi) amend, modify or waive any provision of ARTICLE III without the written consent of each Lender Party. 

Section 13.02 Notices; Copies of Notices and Other Information.

  
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 (a) Any request, demand, authorization, direction, notice, consent, waiver or other documents
provided or permitted by this Agreement shall be in writing and if such request, demand, authorization, direction, notice, consent or waiver is to be made upon, given or furnished to or filed with: 

(i) the Administrative Agent by any Lender or by the Borrower shall be sufficient for every purpose hereunder if made, given,
furnished or filed in writing to or with the Administrative Agent at its Administrative Agent’s Office; or 
 (ii) the
Borrower by the Administrative Agent, or by any Lender shall be sufficient for every purpose hereunder if in writing and mailed first-class, postage prepaid and by facsimile to the Borrower addressed to: 595 Market St., 29th Floor, San Francisco, CA
94105, Fax: 415.727.3500, Attn: General Counsel, or at any other address previously furnished in writing to the Administrative Agent by the Borrower. The Borrower shall promptly transmit any notice received by them from the Lenders to the
Administrative Agent. 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be
deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at
the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in Section 13.02(b) below, shall be effective as provided in
Section 13.02(b). 
 (b) Electronic Communications. Notices and other communications to the Administrative Agent or the
Lenders hereunder may be delivered or furnished by electronic communication (including e mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to
notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may each, in its
discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications.

 Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement) and (ii) notices or
communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication
is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or
communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

  
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 (c) Change of Address, Etc. Each of the Borrower and the Administrative Agent may change
its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile or telephone number for notices and other communications hereunder
by notice to the Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone
number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. 

(d) Reliance by Administrative Agent and Lenders. The Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices (including telephonic or electronic Borrowing Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other
form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify each Indemnitee from all losses, costs, expenses and liabilities resulting from the
reliance by such Person on each notice purportedly given by or on behalf of the Borrower, other than those resulting from the gross negligence or willful misconduct of such Person. All telephonic notices to and other telephonic communications with
the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

Section 13.03 No Waiver; Cumulative Remedies;. No failure by any Lender or the Administrative Agent to exercise, and no
delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive
of any rights, remedies, powers and privileges provided by Law. 
 Section 13.04 Effect of Headings and Table of
Contents. The Article and Section headings in this Agreement and the Table of Contents are for convenience only and shall not affect the construction hereof or thereof. 

Section 13.05 Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or 

  
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otherwise transfer any of their rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer any
of its rights or obligations hereunder except (i) to an assignee in accordance with Section 13.05(b), (ii) by way of participation in accordance Section 13.05(d), or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of Section 13.05(f) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section 13.05(d) and, to the extent expressly contemplated hereby, the Related Parties of
each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations
under this Agreement upon prior notice to the Administrative Agent and the Borrower; provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitments and/or the Loans at
the time owing to it or contemporaneous assignments to related Approved Funds that equal at least the amount specified in clause (b)(i)(B) below in the aggregate, or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved
Fund, no minimum amount need be assigned; and 
 (B) in any case not described in clause (b)(i)(A) above, the aggregate
amount of the Commitments (which for this purpose includes Loans outstanding thereunder) or, if the applicable Commitments are not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment
(determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be
less than $1,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 

(ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; 

  
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 (iii) Required Consents. The consent of the Administrative Agent, the
Borrower (such consent in each case not to be unreasonably withheld or delayed) and, with respect to the assignment of any LC Exposure, the Issuing Bank shall be required for any assignment pursuant to this Section 13.05(b) other than
(A) at any time prior to the end of the Availability Period, assignments to a Lender or an Eligible Assignee and (B) at any time after the Availability Period, assignments to a Lender, an Affiliate of a Lender, an Eligible Assignee or an
Approved Fund; provided that, in each case, no consent of the Borrower shall be required if a Default or Event of Default has occurred and is continuing and the Borrower’s consent shall be deemed to have been given if the Borrower has
not responded within ten (10) Business Days of an assignment request. No other consent shall be required for any such assignment except to the extent required by clause (b)(i)(B) above. 

(iv) Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an
Assignment and Assumption, together with a processing fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing fee in the case of any assignment. The
assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 
 (v)
Prohibited Assignments. No assignment of any Loans or Commitments shall be made to (A) a Competitor, (B) any Defaulting Lender or any of its Affiliates in this Section 13.05(b)(v), (C) to a natural Person or
(D) to any Affiliated Lender if, in the case of this subclause (D), after giving effect to such assignment, the Affiliated Lenders would, in the aggregate, own or hold in excess of 25% of the Commitments, Loans and LC Exposure outstanding under
the Facilities (calculated as of the date of such purchase). 
 (vi) Certain Additional Payments. In connection with
any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such
additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating
actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund
as appropriate) its full pro rata share of all Loans. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with
the provisions of this clause (vii), then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

  
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 (vii) Assignment to an Affiliated Lender. In the event that the Borrower
or any Affiliate thereof (including the Sponsor) is an assignee under this Section 13.05(b) (an “Affiliated Lender”), (A) such Affiliated Lender shall be a Non-Voting Lender (as defined in the Collateral Agency
Agreement) and its Commitments or Delayed Draw Commitments shall not be included in any calculation for purposes of determining whether a requisite number or percentage of Lenders, as applicable, have voted to take an action hereunder and
(B) the Affiliated Lender, in its capacity as a Lender, shall not have any right (1) to consent to any amendment, modification, waiver, consent or other such action with respect to any of the terms of this Agreement or any other Loan
Document, (2) to require the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to this Agreement or any other Loan Document, (3) to otherwise vote on any matter related to this
Agreement or any other Loan Document, (4) to attend any meeting or conference call with the Administrative Agent or any Lender or receive any information from the Administrative Agent or any Lender or (5) to make or bring any claim, in its
capacity as a Lender, against the Administrative Agent or any Lender or with respect to the duties and obligations of such Person under the Loan Documents; provided, that no amendment, modification or waiver shall (I) deprive the
Affiliated Lender, in its capacity as a Lender, of its share of any payments which Lenders are entitled to share on a pro rata basis hereunder or (II) affect the Affiliated Lender, or any of them, in its capacity as Lender, in a manner that is
materially disproportionate to the effect of such amendment or other modification on other Lenders; provided, further, no amendment, modification or waiver expressly requiring the consent of all Lenders pursuant to
Section 13.01(b) shall be effective without the consent of the Affiliated Lender, in its capacity as a Lender. 
 Subject to acceptance and
recording thereof by the Administrative Agent pursuant to Section 13.05(c), from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of
the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall
continue to be entitled to the benefits of Sections 5.06, 5.07, 5.08, 5.09 and 5.11 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided that except to the
extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with Section 13.05(d). 

  
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 (c) Register. The Administrative Agent, acting solely for this purpose as an
Administrative Agent of the Borrower, shall maintain at one of its offices in New York City a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments
and Delayed Draw Commitments of, and principal amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). Upon its receipt of, and consent to, a duly completed Assignment and
Assumption executed by an assigning Lender and an assignee lender, administrative details information with respect to such assignee lender (unless the assignee lender shall already be a Lender hereunder), the processing and recordation fee referred
to in clause (b)(iv) above, if applicable, and the written consent of the Administrative Agent to such assignment and any applicable tax forms, the Administrative Agent shall promptly record each assignment made in accordance with this
Section 13.05(c) in the Register. No assignment shall be effective unless it has been recorded in the Register as provided in this Section 13.05(c). The entries in the Register shall be conclusive absent manifest error, and
the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for
inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (d)
Participations. (i) Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural Person or the Borrower or any of the Borrower’s
Affiliates) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitments, Delayed Draw Commitments and/or the Loans owing to it); provided
that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrower, the
Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. 

(ii) Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall
retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of
the Participant, agree to any amendment, modification or waiver requiring the consent of all Lenders, as set forth in first proviso in Section 13.01 that affects such Participant. The Borrower agree that each Participant shall be
entitled to the benefits of Sections 5.08, 5.09 and 5.10 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 13.05(b); provided that such Participant agrees to be
subject to the provisions of Section 5.09 as if it were an assignee under Section 13.05(b). To the extent permitted by Law, each Participant also shall be entitled to the benefits of Section 5.11 as though it were
a 

  
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Lender; provided that such Participant agrees to be subject to Section 5.10 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this
purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans, Commitments or other rights or
obligations under the Loan Documents (each such register, a “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of any Participant Register to any Person (including the
identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans or other rights or obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such
Commitment, Loan or other right or obligation is in registered form under section 5f.103-1(c) of the U.S. Treasury Regulations. The entries in a Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person
whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under
Section 5.09 that the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior
written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 5.09 unless the Borrower is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Sections 5.09 and 5.10 as though it were a Lender. 
 (f) Certain
Pledges. Any Lender or the Administrative Agent may at any time pledge or assign a security interest in all or any portion of its rights under the Loan Documents to secure obligations of such Lender or the Administrative Agent, including any
pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender or the Administrative Agent from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender or the Administrative Agent as a party hereto. 
 Section 13.06 Severability. In case any
provision in this Agreement shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 13.07 Benefits of Agreement. Nothing in this Agreement, express or implied, shall give to any Person, other than the
parties hereto, the Administrative Agent and their successors hereunder, the Lender Parties, each Indemnitee and any other Person with an ownership interest in any part of the Collateral, any benefit or any legal or equitable right, remedy or claim
under this Agreement. 
 Section 13.08 Governing Law.

  
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 (a) GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS,
CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (b) SUBMISSION TO JURISDICTION. EACH PARTY HERETO IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, OR ANY RELATED
PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES
DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY
SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION,
LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 

(c) WAIVER OF VENUE. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (b) OF THIS SECTION. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION
13.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

  
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 Section 13.09 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, ADMINISTRATIVE AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13.09. 
 Section 13.10 Counterparts; Integration;
Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and thereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject
matter hereof and thereof. This Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of
each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging means (e.g. “pdf”, “tif”, “jpg” or “jpeg”) shall be
effective as delivery of a manually executed counterpart of this Agreement. 
 Section 13.11 Confidentiality.

(a) Each party to this Agreement agrees to maintain the confidentiality of the Confidential Information (as defined below), except that
Confidential Information may be disclosed (i) to its Affiliates, and to its and its Affiliates’ directors, officers, employees, trustees and Administrative Agents, including accountants, legal counsel and other Administrative Agents and
advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential and any failure of such
Persons acting on behalf of such party to comply with this Section shall constitute a breach of this Section by the relevant party, as applicable), (ii) to the extent requested by any regulatory authority or self-regulatory authority, required
by applicable Law or by any subpoena or similar legal process; provided that solely to the extent permitted by law and other than in connection with audits and reviews by regulatory and self-regulatory authorities, each party shall notify the other
parties hereto as promptly as practicable of any such requested or required disclosure in connection with any legal or regulatory proceeding; provided further that in no event shall any party hereto be obligated or required to return any materials
furnished by any other party hereto, (iii) to any other party to this Agreement or under the other Loan Documents, (iv) in connection with the exercise of any 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			151		TLA CREDIT AGREEMENT

 
remedies hereunder or any suit, action or proceeding relating to this Agreement or the other Loan Documents or the enforcement of rights hereunder or thereunder, (v) on a confidential basis
to (A) any rating agency in connection with rating the Borrower or its Subsidiaries or the Facilities or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to
the Facilities, (vi) subject to an agreement containing confidentiality undertakings substantially similar to those of this Section, to (A) any assignee of or Participant in, or any prospective assignee of or Participant in, any
Lender’s rights or obligations under this Agreement, (B) any actual or prospective counterparty (or its advisors) to any interest rate cap contract or derivative transaction relating to any Relevant Party or the Sponsor and its obligations
under the Loan Documents, or (C) any pledgee of a Lender referred to in Section 13.05, or (vii) to the extent such Confidential Information (x) becomes publicly available other than as a result of a breach of this Section or
(y) becomes available to such party or its Affiliates on a nonconfidential basis from a source other than Sponsor or the Borrower. For the purposes hereof, “Confidential Information” shall mean (1) with respect to
Borrower, all information received by the Administrative Agent or the Lenders from Sponsor, the Borrower or any Subsidiary relating to Sponsor, the Borrower, any other Subsidiary or their business, other than any such information that is available
to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by Sponsor, the Borrower or any Subsidiary, and (2) with respect to the Administrative Agent or the Lenders, all information received by any Relevant Party
or the Sponsor from the Administrative Agent or any Lender relating to the Administrative Agent or any Lender or its business, including information relating to fees, other than any such information that is available to such Relevant Party or the
Sponsor on a nonconfidential basis prior to disclosure by the Administrative Agent or such Lender; provided that, in the case of information received from Sponsor, the Borrower or any Subsidiary after the Closing Date, such information is
clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Confidential Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person
has exercised the same degree of care to maintain the confidentiality of such Confidential Information as such Person would accord to its own confidential information. 

(b) EACH PARTY HERETO ACKNOWLEDGES THAT CONFIDENTIAL INFORMATION AS DEFINED IN SECTION 13.11(a) FURNISHED TO IT PURSUANT TO THIS AGREEMENT
MAY INCLUDE MATERIAL NON-PUBLIC CONFIDENTIAL INFORMATION CONCERNING SUCH OTHER PARTIES HERETO AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC
CONFIDENTIAL INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC CONFIDENTIAL INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 

(c) ALL CONFIDENTIAL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE AGENT
PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT, WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC CONFIDENTIAL INFORMATION 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			152		TLA CREDIT AGREEMENT

 
ABOUT SPONSOR, THE BORROWER, THE RELEVANT PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT
IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE CONFIDENTIAL INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC CONFIDENTIAL INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW, INCLUDING
FEDERAL AND STATE SECURITIES LAWS. 
 Section 13.12 USA PATRIOT ACT. Each Lender that is subject to the PATRIOT Act and
the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “PATRIOT
Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as
applicable, to identify the Borrower in accordance with the PATRIOT Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or
such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and Anti-Money Laundering Laws, including the PATRIOT Act. 

Section 13.13 Corporate Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the
Borrower or the Administrative Agent, in each of their capacities hereunder, under this Agreement or any certificate or other writing delivered in connection herewith, against (i) the Administrative Agent in its individual capacity, or
(ii) any partner, member, owner, beneficiary, Administrative Agent, officer, director, employee or Administrative Agent of the Administrative Agent in its individual capacity, any holder of equity in the Borrower or the Administrative Agent or
in any successor or assign of the Administrative Agent in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Administrative Agent has no such obligations in its individual capacity), and except
that any such partner, owner or equity holder shall be fully liable, to the extent provided by applicable Law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 

Section 13.14 Non-Recourse. No claims may be brought against any of the Borrower’s directors or officers for any
Obligations, except in the case of fraud or actions taken in bad faith by such Persons. 
 Section 13.15 Administrative
Agent’s Duties and Obligations Limited. The duties and obligations of the Administrative Agent, in its various capacities hereunder, shall be limited to those expressly provided for in their entirety in this Agreement (including any
exhibits to this Agreement). Any references in this Agreement (and in the exhibits to this Agreement) to duties or obligations of the Administrative Agent in its various capacities hereunder, that purport to arise pursuant to the provisions of any
of the Loan Documents shall only be duties and obligations of the Administrative Agent if the Administrative Agent is a signatory to any such Loan Documents. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			153		TLA CREDIT AGREEMENT

 Section 13.16 Entire Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

Section 13.17 Right of Setoff. Subject to Article IV of the Collateral Agency Agreement, if an Event of Default shall
have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or the account of the Borrower against any and all of the
obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or its Affiliates, irrespective of whether or not such Lender or Affiliate shall have made any demand under this Agreement or any
other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender different from the branch, office or Affiliate holding such deposit or obligated on such
indebtedness. The rights of each Lender and its Affiliates under this Section 13.17 are in addition to other rights and remedies (including other rights of setoff) that such Lender or its Affiliates may have. Each Lender agrees to notify
the Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application. 

Section 13.18 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the
interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive
interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged,
or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest,
(b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

Section 13.19 Survival of Representations and Warranties. All representations and warranties made hereunder and in any
document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the making thereof and the termination of this Agreement. 

Section 13.20 No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated
hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A)

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			154		TLA CREDIT AGREEMENT

 
the arranging and other services regarding this Agreement provided by the Joint Lead Arrangers, the Lender Parties and their Affiliates are arm’s-length commercial transactions between the
Borrower and their respective Affiliates, on the one hand, and the Joint Lead Arrangers, the Lender Parties and their Affiliates, on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the
extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and understand and accept, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Joint
Lead Arrangers, the Lender Parties and their Affiliates are and have been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, Administrative
Agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) neither the Joint Lead Arrangers, the Lender Parties nor their Affiliates have any obligation to the Borrower or any of its Affiliates with respect to the
transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Joint Lead Arrangers, the Lender Parties and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Borrower and their respective Affiliates, and neither the Joint Lead Arrangers, the Lender Parties nor their Affiliates have any obligation to disclose any of such interests to the
Borrower or any of its Affiliates. To the fullest extent permitted by Law, the Borrower hereby waives and releases any claims that it may have against the Joint Lead Arrangers, the Lender Parties and their Affiliates with respect to any breach or
alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 
 Section 13.21
Electronic Execution of Assignments and Certain Other Documents. The words “execute,” “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in any
amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative
Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and
as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state Laws based on the Uniform Electronic
Transactions Act. 
 [Signature Pages Follow] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			155		TLA CREDIT AGREEMENT

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

			
	BORROWER:
	
	SUNRUN AURORA PORTFOLIO 2014-A, LLC
		
	By:    		  

			Name:
			Title:

 Signature Page to Credit Agreement 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	INVESTEC BANK PLC, as Administrative Agent
		
	By:    		  

			Name:
			Title:

 Signature Page to Credit Agreement 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	[INVESTEC BANK PLC], as Lender
		
	 By:    
		  

			Name:
			Title:

 Signature Page to Credit Agreement 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	[INSERT], as [Lender][insert Lender capacity]
		
	By:    		  

			Name:
			Title:

 Signature Page to Credit Agreement 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 
			
	KEYBANK NATIONAL ASSOCIATION, as Issuing Bank
		
	By:    		  

			Name:
			Title:

 Signature Page to Credit Agreement 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

 EXECUTION VERSION 

Exhibit A 
 Form of Borrowing
Notice 
 [LETTERHEAD OF BORROWER] 

BORROWING NOTICE 

[            ], 20    1 
 Investec Bank plc 

as Administrative Agent 
 2 Gresham Street 

London, EC2V 7QP 
 United Kingdom 

Attn: Shelagh Kirkland 
  

	Re:	Sunrun Aurora Portfolio 2014-A, LLC 

 Ladies and Gentlemen: 

This Borrowing Notice (this “Notice”) is delivered to you pursuant to Section
[2.01(b)]2[2.02(b)]3[2.03(b)]4 of that certain Credit Agreement, dated as of
December 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company (the
“Borrower”), the financial institutions as Lenders from time to time party thereto (each individually a “Lender” and, collectively, the “Lenders”), Investec Bank PLC, as administrative agent for the
Lenders (in such capacity, and together with its successors and permitted assigns, the “Administrative Agent”) and KeyBank National Association, as Issuing Bank. Capitalized terms used herein and not otherwise defined herein have
the meanings given to them in the Credit Agreement. 
 The Borrower hereby gives irrevocable notice to the Administrative Agent, pursuant to Section
[2.01(b)]2 [2.02(b)]3 [2.03(b)]4 of the Credit Agreement, that the undersigned
Authorized Officer hereby requests a [Term Loan]5[Working Capital Loan]4 under the Credit Agreement on behalf of the Borrower. 

In connection with such request, the undersigned Authorized Officer certifies that such person is an Authorized Officer and sets forth below the following
information as required by Section [2.01]2 [2.02]3 [2.03]4 of the
Credit Agreement: 
  

	(1)	The proposed funding date for the [Term Loan]5 [Working Capital Loan]4 is
                    , which day is a Business Day not earlier than three (3) Business Days following the date hereof [and which is no later than
June 30, 2016]3 [and which is no later than the date that is [one (1) day] prior to the Maturity Date]4. 

 

	1 	The Borrower shall deliver a Borrowing Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed funding date. 

	2 	To be included only if this Notice is delivered in connection with the borrowing of Initial Term Loans. 

	3 	To be included only if this Notice is delivered in connection with a borrowing of Delayed Draw Term Loans. 

	4 	To be included only if this Notice is delivered in connection with a borrowing of Working Capital Loans. 

	5 	To be included only if this Notice is delivered in connection with a borrowing of Initial Term Loans or Delayed Draw Term Loans. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit A-1		Exhibits to TLA Credit Agreement

	(2)	[The principal amount of the requested Initial Term Loan is $        , which, when taken together with all other Initial Term Loans made under Section 2.01 of the
Credit Agreement, does not exceed the total aggregate Initial Term Loan Commitments of all Term Lenders on the Closing Date.]2 

OR 
 [The principal amount of the requested
Delayed Draw Term Loan is $        , which, when taken together with all other Delayed Draw Term Loans made under Section 2.02 of the Credit Agreement, does not exceed the total aggregate Delayed
Draw Commitments of all Term Lenders on the proposed funding date.]3 
 OR 

[The principal amount of the requested Working Capital Loan is $        , which, when taken together
with all other Working Capital Loans made under Section 2.03 of the Credit Agreement, does not exceed the total aggregate Working Capital Loan Commitments of all Working Capital Lenders on the proposed funding date.]4  
  

	(3)	The proceeds of the [Term Loan]5 [Working Capital Loan]4 shall be credited to the account of the Borrower as
designated in writing to the Administrative Agent. 

 The undersigned certifies as of the date hereof on behalf of the Borrower and not in
such person’s individual capacity that, as of the proposed funding date, all of the conditions precedent set forth in Section [10.01]2 [10.02]3 [10.03]4 of the Credit Agreement will be satisfied or waived in accordance with the terms of the Credit Agreement. 

Delivery of an executed counterpart of this Borrowing Notice by telephonic, facsimile or other electronic means will be effective as delivery of any original
executed counterpart of this Borrowing Notice. 
 [remainder of page intentionally blank] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit A-2		Exhibits to TLA Credit Agreement

 IN WITNESS WHEREOF, the Borrower has caused this Borrowing Notice to be duly executed and
delivered as of the date first written above. 
  

			
	BORROWER
	
	SUNRUN AURORA PORTFOLIO 2014-A, LLC
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit A-3		Exhibits to TLA Credit Agreement

 Exhibit B 

Assignment and Assumption 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between the Assignor identified in item 1 below (the “Assignor”) and the Assignee identified in item 2 below (the “Assignee”). Capitalized terms used but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably
purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the
Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of
such outstanding rights and obligations of the Assignor under the respective facilities identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or
in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and
assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the Assignor to the Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Each such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

	1.	Assignor:
                                         
                    

[Assignor [is] [is not] a Defaulting Lender] 
  

	2.	Assignee:
                                         
                    

 [as
[Lender] or [Affiliate][Approved Fund] of [identify Lender]]1 
  

	3.	Borrower: Sunrun Aurora Portfolio 2014-A, LLC 

  

	4.	Administrative Agent: Investec Bank PLC, as administrative agent on behalf of the Lenders under the Credit Agreement 

 

	1 	Indicate the appropriate option only if the Assignee is a Lender, an Affiliate of a Lender or an Approved Fund of a Lender. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit B-1		Exhibits to TLA Credit Agreement

	5.	Credit Agreement: Credit Agreement, dated as of December 31, 2014, among Sunrun Aurora Portfolio 2014-A, LLC (the “Borrower”), the financial institutions as Lenders from time to time party
thereto (each individually a “Lender” and, collectively, the “Lenders”), Investec Bank PLC, as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the
“Administrative Agent”) and KeyBank National Association, as Issuing Bank 

  

	6.	Assigned Interest: 

  

															
	 Assignor
	  	Assignee	  	Aggregate
Amount of
Commitment/Loans
for Lender2	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage3
Assigned of
Commitment/Loans	 
		  		  	$	            	  	  	$	            	  	  	 	            	% 

  

	[7.	Trade Date:                     ]4 

 

	8.	Effective Date:             , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.] 

  

	9.	The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain
material non-public information about the Borrower, the Lenders and their Affiliates or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and
applicable Laws, including Federal and state securities laws.5 

  

	2 	Amounts in this column and in the column immediately to the right to be adjusted by the counterparty to take into account any payments or prepayments made between the Trade Date and the Effective Date.

	3 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	4 	To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. 

	5 	Insert if Assignee is not already a Lender. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit B-2	 	 Exhibits to TLA Credit Agreement

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR6
	[NAME OF ASSIGNOR]
		
	By:		  

	Name:		  

	Title:		  

	
	ASSIGNEE7
	[NAME OF ASSIGNEE]
		
	By:		  

	Name:		  

	Title:		  

  

	6 	Include both Fund/Pension Plan and manager making the trade (if applicable). 

	7 	Include both Fund/Pension Plan and manager making the trade (if applicable). 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit B-3		 Exhibits to TLA Credit Agreement

 

 [Consented to and]8 Accepted: 

 

			
	INVESTEC BANK PLC, as Administrative Agent
		
	By:		  

	Name:		  

	Title:		  

 [Consented to:]9 

 

			
	KEYBANK NATIONAL ASSOCIATION, as Issuing Bank
		
	By:		  

	Name:		  

	Title:		  

  

	8 	To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	9 	To be added only if the consent of the Issuing Bank is required by the terms of the Credit Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit B-4		Exhibits to TLA Credit Agreement

 [Consented to:]10 

 

			
	SUNRUN AURORA PORTFOLIO 2014-A, LLC, as Borrower
		
	By:		  

	Name:		  

	Title:		  

  

	10 	To be added only if the consent of the Borrower is required by the terms of the Credit Agreement. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit B-5		Exhibits to TLA Credit Agreement

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is not a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in
or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates, the Sponsor, any other Loan Party or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or
Affiliates, the Sponsor, any other Loan Party or any other Person of any of their respective obligations under any Loan Document. 
 1.2.
Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated
hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 13.05(b)(iii) and (v) of the Credit Agreement (subject to such consents, if any, as may be
required under Section 13.05(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest,
shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision
to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial
statements delivered pursuant to Section 7.01(a)(i) or (ii) thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment
and Assumption and to purchase the Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent 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 Assignment and Assumption and to purchase the Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it pursuant to the terms of
the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative Agent, the Assignor 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 the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the
terms of the Loan Documents are required to be performed by it as a Lender. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit B-6		 Exhibits to TLA Credit Agreement

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued
from and after the Effective Date. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Effective Date to the Assignee. 

3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and permitted assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York
without reference to its conflict of laws other than Section 5-1401 of the New York General Obligations Law. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit B-7		 Exhibits to TLA Credit Agreement

 Exhibit C-1 

Form of Letter of Credit 
 See attached. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-1		Exhibits to TLA Credit Agreement

 FORM OF DSR LETTER OF CREDIT 

[Letterhead of KeyBank] 

IRREVOCABLE TRANSFERABLE STANDBY LETTER OF CREDIT NO. [            ] 

Dated: [                    ] 

ACCOUNT PARTY: 
 Sunrun Aurora Portfolio 2014-A, LLC 

595 Market St., 29th Floor 

San Francisco, CA 94105 
 Attn: General Counsel 

BENEFICIARY: 
 OneWest Bank N.A. 

as Collateral Agent 
 2450 Broadway Ave., Suite 400 

Santa Monica, CA 90404 
 Attn: Stephen Sung / Matthew Exter 

Dear Beneficiary: 
 At the request of and for
the account of Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company (“Account Party”), we, KeyBank National Association (“KeyBank”), hereby establish in your favor, pursuant to that certain Credit Agreement,
dated as of December 31, 2014 (as amended, restated, amended and restated, or otherwise modified, supplemented or replaced, the “Credit Agreement”), by and among the Account Party, the financial institutions from time to time party
thereto as lenders (collectively, the “Lenders”), and Investec Bank plc, as Administrative Agent for the Lenders (in such capacity, together with its successors and permitted assigns, the “Administrative Agent”), our Irrevocable
Transferable Standby Letter of Credit No. [                    ] (this “Letter of Credit”) whereby, subject to the terms and conditions
contained herein, you are hereby irrevocably authorized to draw on KeyBank National Association, by your draft or drafts at sight, up to an aggregate amount not to exceed the Dollar amount for the relevant time period set forth on Schedule 1 hereto,
which amount shall not exceed $7,900,000.00 (Seven Million Nine Hundred Thousand and 00/100 United States Dollars) (such amount, as it may be reduced in accordance with the terms hereof, the “Stated Amount”). 

This Letter of Credit shall be effective immediately and shall expire on the Expiration Date (as hereinafter defined). Partial drawings on
this Letter of Credit are permitted up to the Stated Amount available for drawing for the relevant period as set forth on Schedule 1, attached hereto. 

The Stated Amount available for drawing under this Letter of Credit shall be immediately reduced by the amount of any paid drawing hereunder.

 You may draw upon this Letter of Credit at any time on or prior to the Expiration Date by presenting (a) a sight draft in the form
of Exhibit A (a “Sight Draft”), appropriately completed and executed by your authorized officer and (b) a certificate in the form of Exhibit B (a “Certificate”), appropriately completed and executed by your authorized
officer. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-2		 Exhibits to TLA Credit Agreement

 Presentation of any Sight Draft and Certificate shall be made at our office located at KeyBank
National Association, Standby Letter of Credit Services, Mail Code: OH-01-49-1003, 4900 Tiedeman Road, Cleveland, Ohio 44144-2302. We hereby agree with you that any Sight Draft and Certificate drawn under and in compliance with the terms of this
Letter of Credit shall be duly honored by us upon delivery, if presented on or before our close of business on the Expiration Date at our office specified above. 

Provided that a compliant drawing is presented by 12:00 p.m., Eastern Standard time, on any Business Day, payment shall be made to you of the
amount specified in the applicable Sight Draft, not to exceed the Stated Amount, in immediately available funds, not later than 11:00 a.m., Eastern Standard time, on the second following Business Day. A compliant drawing presented after
12:00 p.m, Eastern Standard time on any Business Day, will be paid on the third following Business Day. 
 As used herein,
“Business Day” shall mean any day other than a Saturday, Sunday or day on which banking institutions are authorized or required to be closed in the states of New York and Ohio. 

If any drawing presented under this Letter of Credit does not comply with the terms and conditions hereof, we will advise you of same by
facsimile transmission to [            ] within one (1) Business Day and give the reasons for such non-compliance. Upon being notified that your drawing was not effected, you may
attempt to correct any such non-compliant drawing if, and to the extent that you are entitled and able to do so on or before the Expiration Date. 

This Letter of Credit shall expire on
[                    ] (“Expiration Date”).1 

This Letter of Credit is transferable in its entirety, but not in part, to any transferee who has succeeded you as Collateral Agent. Transfer
of this Letter of Credit is subject to our receipt of instruction in the form attached hereto as Exhibit C (“Transfer Credit In Entirety Form”), accompanied by this original Letter of Credit and any amendments hereto. Transfer charges are
for the account of the Account Party. This Letter of Credit may not be transferred to any person or entity with which U.S. persons are prohibited from doing business under U.S. foreign assets control regulations or other applicable U.S. laws and
regulations. 
 Only you as the Beneficiary may draw upon this Letter of Credit. Upon the earliest of (i) the honoring by us of the
final drawing available to be made hereunder, (ii) our receipt of this outstanding Letter of Credit and all amendments hereto, and a written certificate signed by your authorized officer, in the form of Exhibit D (“Early Cancellation
Authority”) appropriately completed stating that this Letter of Credit is no longer required by you and may be cancelled prior to the Expiration Date or (iii) the Expiration Date, this Letter of Credit shall automatically terminate and be
delivered to us by the Beneficiary for cancellation. 
 This Letter of Credit sets forth in full our undertaking, and such undertaking shall
not in any way be modified, amended, amplified or limited by reference to any document, instrument or agreement referred to herein and any such reference shall not be deemed to incorporate herein by reference any document, instrument or agreement.

 This Letter of Credit is issued subject to the Uniform Customs and Practice for Documentary Credits, 2007 Revision, International Chamber
of Commerce Publication No. 600 (the “UCP”). However, Article 32 of the UCP shall not apply to this Letter of Credit. The laws of the State of New York shall apply to matters not governed by the UCP. 

 

	1 	Insert the date that is the earlier of the seventh anniversary of the date of this letter of credit and December 31, 2021. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-3		Exhibits to TLA Credit Agreement

 
					
	Very truly yours,
	
	 KEYBANK NATIONAL ASSOCIATION

		
	By:		  

			Name:		
			Title:		
		
	By:		  

			Name:		
			Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-4		Exhibits to TLA Credit Agreement

					
					 Schedule 1
 to Letter of Credit

No.             

 Schedule 1 
 The
current Stated Amount available for drawing in accordance with the Amortization Schedule (which may be revised from time to time) delivered to the Borrower and each Lender in respect of the funding of the Draw Loans under this Letter of Credit is as
follows: 
 Current Stated Amount: $[        ], through and including
[        ] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-5		Exhibits to TLA Credit Agreement

					
					 Exhibit A
 to Letter of Credit

No.             

 SIGHT DRAFT 

[Date] 
 KeyBank National Association 

Standby Letter of Credit Services 
 Mail Code: OH-01-49-1003 

4900 Tiedeman Road 
 Cleveland, Ohio 44144-2302 

Facsimile: (216) 813-3719 
 Re:
Irrevocable Transferable Standby Letter of Credit No. [                    ] 

At Sight 
 Pay to
[                    ], as Collateral Agent, in immediately available funds
                     Dollars ($        ), pursuant to Irrevocable Transferable Standby Letter of Credit
No.                    . 
  

					
	
[                          
                                  ],

as Collateral Agent

		
	By:		  

			Name:		
			Title:		

 Please wire draw proceeds per the following instructions: 

 

					
	TO:		  
		
			  
		
			  
		
	ABA or ROUTING #:		  
		
	ATTN:		  
		
			  
		
	REFERENCE:		  
		
	CREDIT ACCOUNT:		  
		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-6		Exhibits to TLA Credit Agreement

					
					 Exhibit B
 to Letter of Credit

No.             

 CERTIFICATE 

[Date] 
 KeyBank National Association 

Standby Letter of Credit Services 
 Mail Code: OH-01-49-1003 

4900 Tiedeman Road 
 Cleveland, Ohio 44144-2302 

Facsimile: (216) 813-3719 
  

	 	Re:	Irrevocable Transferable Standby Letter of Credit No. [                    ] 

Ladies/Gentlemen: 
 This certificate is
presented in accordance with the terms of your Irrevocable Transferable Standby Letter of Credit No. [            ] held by us (the “Letter of Credit”). 

We hereby certify that: 
 1. In
connection with the Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated, modified, supplemented or replaced from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio
2014-A, LLC, the financial institutions from time to time party thereto as lenders (the “Lenders”), Investec Bank plc, as Administrative Agent for the Lenders, KeyBank National Association, as a Lender and the Issuing Bank (each as
defined therein), the Beneficiary is making a demand for payment under the Letter of Credit in the sum of US$        , which amount, together with all previous drawings honored pursuant to the Letter of
Credit, does not exceed the current Stated Amount of the Letter of Credit; and 
 2. [Beneficiary to make one of the following statements in
this paragraph 2:] 
 [Pursuant to the terms of that certain Collateral Agency, Intercreditor and Depositary Agreement, dated as of
December 31, 2014 (as amended, restated, amended and restated, modified, supplemented or replaced from time to time, the “Collateral Account Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC, as Borrower, Investec Bank
plc, as Administrative Agent, OneWest Bank N.A., as Collateral Agent and Depositary Agent, and each Secured Party from time to time party thereto, (i) the funds in the Debt Service Reserve Account are insufficient to meet the Debt Payment
Deficiency after application of Section 3.03(c)(ii)(A) of the Collateral Account Agreement, (ii) such insufficient amount is at least in an amount equal to this drawing and (iii) the proceeds of such drawing will be applied to the
payment of such insufficient amount.] 
 or 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-7		Exhibits to TLA Credit Agreement

 [Issuing Bank has failed to maintain at least two of the following credit ratings
(a)“Baa2” or higher from Moody’s, (b) “BBB” or higher from S&P, and (c) “BBB” or higher from Fitch with respect to its unsecured and unguaranteed senior long-term debt obligations and thirty
(30) days have elapsed since the Issuing Bank failed to maintain such ratings.] 
 or 

[This Letter of Credit will expire within ten (10) days and the Collateral Agent has not received written evidence from the Issuing Bank
or the Company that this Letter of Credit will be extended or replaced upon or prior to its stated expiration date.] 
 3. The amount
demanded hereby has been calculated in accordance with the terms of the Credit Agreement. 
 4. You are hereby directed to pay the amount so
demanded to: 
 [Insert wire transfer instructions for the Debt Service Reserve Account] 

This certificate has been executed and delivered by a duly authorized officer of the undersigned on the date first above written. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-8		Exhibits to TLA Credit Agreement

 
					
	
[                          
                                  ],

as Collateral Agent

		
	By:		  

			Name:		
			Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-9		Exhibits to TLA Credit Agreement

					
					 Exhibit C
 to Letter of Credit

No.            

 TRANSFER CREDIT IN ENTIRETY FORM 

[Date] 
 KeyBank National Association 

Standby Letter of Credit Services 
 Mail Code: OH-01-49-1003 

4900 Tiedeman Road 
 Cleveland, Ohio 44144-2302 

Facsimile: (216) 813-3719 
  

	 	Re:	Irrevocable Transferable Standby Letter of Credit No. [                    ] 

Ladies/Gentlemen: 
 This is a transfer
certificate presented in accordance with your Irrevocable Transferable Standby Letter of Credit No. [            ] held by us (the “Letter of Credit”). 

The undersigned, as beneficiary under the Letter of Credit, hereby irrevocably transfers to
             [insert name and address of transferee] all rights of the undersigned beneficiary to draw under the Letter of Credit. Transferee is successor
Collateral Agent under that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated, modified, supplemented or replaced from time to time, the “Credit Agreement”), among Sunrun Aurora
Portfolio 2014-A, LLC, the financial institutions from time to time party thereto as lenders (the “Lenders”), Investec Bank plc, as Administrative Agent for the Lenders, KeyBank National Association, as Issuing Bank (each as defined
therein). 
 By this transfer, all rights of the undersigned beneficiary in the Letter of Credit are transferred to the transferee and the
transferee shall hereafter have the sole rights of the undersigned as beneficiary thereof. 
 The Letter of Credit and all amendments are
returned herewith and ask you to endorse the within transfer on the reverse thereof and forward directly to the Transferee with your customary notice of transfer. 

This certificate has been executed and delivered by a duly authorized officer of the undersigned on the date first above written. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-10		Exhibits to TLA Credit Agreement

 
					
	
[                          
                                  ],

as Collateral Agent

		
	By:		  

			Name:		
			Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-11		Exhibits to TLA Credit Agreement

					
					 Exhibit D
 to Letter of Credit

No.            

 EARLY CANCELLATION AUTHORITY 

[Date] 
 KeyBank National Association 

Standby Letter of Credit Services 
 Mail Code: OH-01-49-1003 

4900 Tiedeman Road 
 Cleveland, Ohio 44144-2302 

Facsimile: (216) 813-3719 
 Ladies/Gentlemen: 

This certificate is presented in accordance with your Irrevocable Transferable Standby Letter of Credit No.
[            ] held by us (the “Letter of Credit”). 
 The
undersigned, as beneficiary under the Letter of Credit, hereby confirms that it is no longer required by us and may be cancelled prior to the Expiration Date. The original Letter of Credit and any amendments thereto, accompany this certificate. 

This certificate has been executed and delivered by a duly authorized officer of the undersigned on the date first above written 

 

					
	
[                          
                                  ],

as Collateral Agent

		
	By:		  

			Name:		
			Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-1-12		Exhibits to TLA Credit Agreement

 Exhibit C-2 

Form of Notice of LC Activity 
 See attached. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-2-1 		Exhibits to TLA Credit Agreement

 FORM OF NOTICE OF LC ACTIVITY 

(Delivered pursuant to Section 2.04(b) 

of the Credit Agreement) 
 Date:
                    1 

KeyBank National Association 
 Standby Letter of Credit Services

 Mail Code: OH-01-27-0623 
 127 Public Square 

Cleveland, Ohio 44144 
 Attn: Lisa A. Ryder 

Re: Sunrun Aurora Portfolio 2014-A, LLC 

Ladies and Gentlemen: 
 This irrevocable Notice
of LC Activity (this “Certificate”) is delivered to you pursuant to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”), among SUNRUN AURORA PORTFOLIO 2014-A, LLC, a Delaware limited liability company (the “Borrower”), the financial institutions as Lenders from time to time party thereto (each
individually a “Lender” and, collectively, the “Lenders”), INVESTEC BANK PLC, as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the
“Administrative Agent”), and KEYBANK NATIONAL ASSOCIATION, as Issuing Bank. Capitalized terms used and not defined herein shall have the meanings set forth in Section 1.01 of the Credit Agreement. 

1. We request that [the [Insert description of Letter of Credit] (the “Letter of Credit”) be
[issued][extended][amended] as provided herein][Schedule 1 of the [Insert description of Letter of Credit] (the “Letter of Credit”) be replaced as provided herein]. The Stated Amount of the [requested][current] Letter of
Credit is the [insert dollar amount] Dollar amount for the relevant time period set forth on Schedule 1 hereto (such amount not to exceed $7,900,000.00). 

[Paragraph 2 to be added in the case of a request for decrease in the Stated Amount of a Letter of Credit] 

2. We request that the Stated Amount of the Letter of Credit be decreased. 

[Paragraph 3 to be added in the case of a request for increase in the Stated Amount of a Letter of Credit] 

 

	1 	The Notice of LC Activity shall be delivered by 11:00 a.m. (New York City time) at least five (5) Business Days before the proposed date of such issuance, extension, increase in Stated Amount or decrease in Stated
Amount of the Letter of Credit. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			 Exhibit C-2-2
		Exhibits to TLA Credit Agreement

 3. We request that the Stated Amount of the Letter of Credit be increased. 

[Paragraph 4 to be added in the case of a request for the replacement of Schedule 1] 

4. We request that Schedule 1 of the Letter of Credit be replaced with Schedule 1 attached hereto. 

[Paragraph 5 to be added in the case of a request for extension of a Letter of Credit] 

5. We request the Expiration Date of the Letter of Credit be extended from
                     to                     , and
such requested Expiration Date does not extend beyond the expiration date in Section 2.04(a)(iii)(B) of the Credit Agreement 
 [Paragraph 6 to be
added in the case of a request for reinstatement of a Letter of Credit] 
 6. The proposed date of the requested
[issuance][extension][amendment][increase in the Stated Amount][decrease in the Stated Amount][replacement of Schedule 1] of the Letter of Credit is
[                    ].2 

7. The Expiration Date of the Letter of Credit is
                    . 

8. The Issuing Bank is instructed to deliver the [Letter of Credit][amended Letter of Credit]3 / [notice of [decrease][increase] in the Stated Amount of the Letter of Credit]4 / [Letter of Credit with the replaced Schedule
1] to [Insert beneficiary of the Letter of Credit], at [Insert address of beneficiary of the Letter of Credit]. 

Borrower hereby certifies to Administrative Agent, the Issuing Bank and the Lenders that the following statements are accurate, true and
complete as of the date hereof, and will be accurate, true and complete on and as of the proposed date of the requested[issuance][extension][amendment][decrease in the Stated Amount][increase in the Stated Amount][replacement of Schedule 1] of the
Letter of Credit: 
 A. The Letter of Credit requested or modified hereby shall only be used in the manner and for the purposes specified
and permitted by the Credit Agreement. 
 B. Each of the applicable conditions set forth in Section 2.04 and other applicable Sections
of the Credit Agreement has been satisfied or waived in accordance with the terms thereof. 
  

	2 	The proposed date of such issuance, extension, increase in Stated Amount, or decrease in Stated Amount shall be no less than five (5) Business Days after the date of this Notice of LC Activity and shall be a
Business Day. 

	3 	Insert in case of amendment, issuance, increase or extension of a Letter of Credit. 

	4 	Insert in case of decrease or increase in the Stated Amount of a Letter of Credit. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-2-3		Exhibits to TLA Credit Agreement

 [In the case of a decrease in the Stated Amount, or the replacement of Schedule 1, of a Letter
of Credit, add the following, as applicable: 
 C. Attached hereto is a written confirmation of [Insert beneficiary of the
Letter of Credit] confirming the [decrease in the Stated Amount of the Letter of Credit][ [the information set forth in the Schedule 1 attached hereto]]. 

[SIGNATURE PAGE FOLLOWS] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-2-4		Exhibits to TLA Credit Agreement

 
			
	Sincerely,
	
	 SUNRUN AURORA PORTFOLIO 2014-A, LLC,

a Delaware limited liability company

		
	By:		  

			Name:
			Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-2-5		Exhibits to TLA Credit Agreement

					
					 Schedule 1
 to Notice of

LC Activity

 Schedule 1 

Schedule 1 
 The current Stated Amount available
for drawing in accordance with the Amortization Schedule (which may be revised from time to time) delivered to the Borrower and each Lender in respect of the funding of the Draw Loans under this Letter of Credit is as follows: 

Current Stated Amount: $[        ], through and including [        ] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Exhibit C-2-6		Exhibits to TLA Credit Agreement

 Exhibit D-1 

Form of U.S. Tax Compliance Certificate 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC (the “Borrower”), the financial institutions as Lenders from time to time party thereto (each
individually a “Lender” and, collectively, the “Lenders”), Investec Bank plc, as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the
“Administrative Agent”) and KeyBank National Association, as Issuing Bank. Capitalized terms used herein and not otherwise defined herein have the meanings given to them in the Credit Agreement. 

Pursuant to the provisions of Section 5.09 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it
is not a ten percent shareholder of the Borrower or any other Loan Party within the meaning of Section 881(c)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower or any other Loan Party as
described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with a
withholding certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E (whichever is applicable). By executing this withholding certificate, the undersigned agrees that (1) if the information provided on this withholding
certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent and shall provide them with a new withholding certificate with the correct information, and (2) the undersigned shall have at all times
furnished the Borrower and the Administrative Agent with a properly completed and currently effective IRS Form W-8BEN or IRS Form W-8BEN-E (whichever is applicable) in either the calendar year in which each payment is to be made to the undersigned,
or in either of the two calendar years preceding such payments. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                    ,
20     

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit D-1-1	 	Exhibits to TLA Credit Agreement

 Exhibit D-2 

Form of U.S. Tax Compliance Certificate 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC (the “Borrower”), the financial institutions as Lenders from time to time party thereto (each
individually a “Lender” and, collectively, the “Lenders”), Investec Bank plc, as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the
“Administrative Agent”) and KeyBank National Association, as Issuing Bank. Capitalized terms used herein and not otherwise defined herein have the meanings given to them in the Credit Agreement. 

Pursuant to the provisions of Section 5.09 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the
Borrower or any other Loan Party within the meaning of Section 881(c)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower or any other Loan Party as described in Section 881(c)(3)(C) of the
Code. 
 The undersigned has furnished its participating Lender with a withholding certificate of its non-U.S. Person status on IRS Form
W-8BEN or IRS Form W-8BEN-E (whichever is applicable). By executing this withholding certificate, the undersigned agrees that (1) if the information provided on this withholding certificate changes, the undersigned shall promptly so inform such
Lender in writing and shall provide it with a new withholding certificate with the correct information, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective IRS Form W-8BEN or
IRS Form W-8BEN-E (whichever is applicable)in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                    ,
20     

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit D-2-1	 	Exhibits to TLA Credit Agreement

 Exhibit D-3 

Form of U.S. Tax Compliance Certificate 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC (the “Borrower”), the financial institutions as Lenders from time to time party thereto (each
individually a “Lender” and, collectively, the “Lenders”), Investec Bank plc, as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the
“Administrative Agent”) and KeyBank National Association, as Issuing Bank. Capitalized terms used herein and not otherwise defined herein have the meanings given to them in the Credit Agreement. 

Pursuant to the provisions of Section 5.09 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the
undersigned nor any of its direct or indirect partners/members that are claiming the portfolio interest exemption is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning
of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower or any other Loan Party within the meaning of Section 881(c)(3)(B) of the Code, and (v) none
of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower or any other Loan Party as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following withholding certificates from
each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E (whichever is applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E
(whichever is applicable) from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing its withholding certificate, the undersigned agrees that (1) if the information provided
on its withholding certificate changes, the undersigned shall promptly so inform such Lender and shall provide it with a new withholding certificate with such correct information and (2) the undersigned shall have at all times furnished such
Lender with a properly completed and currently effective withholding certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                    ,
20     

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit D-3-1	 	Exhibits to TLA Credit Agreement

 Exhibit D-4 

Form of U.S. Tax Compliance Certificate 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC (the “Borrower”), the financial institutions as Lenders from time to time party thereto (each
individually a “Lender” and, collectively, the “Lenders”), Investec Bank plc, as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the
“Administrative Agent”) and KeyBank National Association, as Issuing Bank. Capitalized terms used herein and not otherwise defined herein have the meanings given to them in the Credit Agreement. 

Pursuant to the provisions of Section 5.09 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any
Note(s) evidencing such Loan(s)) and (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members that are claiming the
portfolio interest exemption is (x) a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (y) a ten percent
shareholder of the Borrower or any other Loan Party within the meaning of Section 881(c)(3)(B) of the Code or (z) a controlled foreign corporation related to the Borrower or any other Loan Party as described in Section 881(c)(3)(C) of
the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-BEN-E (whichever is applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS
Form W-BEN-E (whichever is applicable) from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing its withholding certificate, the undersigned agrees that (1) if the
information provided on its withholding certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent and shall provide them with a new withholding certificate with the correct information, and (2) the
undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective withholding certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                    ,
20     

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit D-4-1	 	Exhibits to TLA Credit Agreement

 Exhibit E-1 

[***] 
 [***] 

 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit E-1-1	 	Exhibits to TLA Credit Agreement

 Exhibit E - 2 

[***] 
 ARTICLE XIV 

[***] 
  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit E-2-1	 	Exhibits to TLA Credit Agreement

 Exhibit F 

[***] 
 See attached. 

 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit F-1	 	Exhibits to TLA Credit Agreement

 [***] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit F-2	 	Exhibits to TLA Credit Agreement

 Exhibit G 

Form of Eligible Customer Agreements 

[to be separately attached] 
  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit G-1	 	Exhibits to TLA Credit Agreement

 Exhibit H-1 

Form of Term Loan Note 
 FORM
OF TERM LOAN NOTE 
 No. [        ] 

New York, New York 

[                    ],
20[    ] 
 For value received, the undersigned, SUNRUN AURORA PORTFOLIO 2014-A, LLC, a Delaware limited liability
company (“Borrower”), unconditionally promises to pay to [            ], or its permitted assigns (the “Lender”), the principal amount of
[            DOLLARS ($            )], or if less, the aggregate unpaid and outstanding principal amount of this Term Loan Note
advanced by the Lender to Borrower pursuant to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Borrower, the financial institutions as Lenders from time to time party thereto, INVESTEC BANK PLC, as administrative agent, and KEYBANK NATIONAL ASSOCIATION, as Issuing Bank, and all other amounts owed by Borrower to the
Lender hereunder. 
 Payments of principal of, and interest on, this Term Loan Note are to be made to the Administrative Agent, for the
account of the Lender, in lawful money of the United States of America. 
 This is one of the Term Loan Notes referred to in
Section 2.06 of the Credit Agreement and is entitled to the benefits thereof and is subject to all terms, provisions and conditions thereof. Capitalized terms used and not defined herein shall have the meanings set forth in Section 1.01 of
the Credit Agreement. 
 This Term Loan Note is made in connection with and is secured by, among other instruments, the provisions of the
Collateral Documents. Reference is hereby made to the Credit Agreement and the Collateral Documents for the provisions, among others, with respect to the custody and application of the Collateral, the nature and extent of the security provided
thereunder, the rights, duties and obligations of Borrower and the rights of the holder of this Term Loan Note. 
 The principal amount
hereof is payable in accordance with the Credit Agreement, and such principal amount may be prepaid solely in accordance with the Credit Agreement. 

Borrower authorizes the Lender to record on the schedule annexed to this Term Loan Note the date and amount of each Term Loan made by the
Lender and each payment or prepayment of principal thereunder and agrees that all such notations shall constitute prima facie evidence of the accuracy of the matters noted. Borrower further authorizes the Lender to attach to and make a part
of this Term Loan Note continuations of the schedule attached thereto as necessary. No failure to make any such notations, nor any errors in making any such notations, shall affect the validity of Borrower’s obligations to repay the full unpaid
principal amount of the Term Loans. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-1-1	 	Exhibits to TLA Credit Agreement

 Borrower further agrees to pay, in lawful money of the United States of America and in
immediately available funds, interest from the date hereof on the unpaid and outstanding principal amount hereof until such unpaid and outstanding principal amount shall become due and payable (whether at stated maturity, by acceleration or
otherwise) at the rates of interest and at the times set forth in the Credit Agreement, and Borrower agrees to pay other fees and costs as stated in the Credit Agreement at the times specified in, and otherwise in accordance with, the Credit
Agreement. 
 If any payment due on this Term Loan Note becomes due and payable on a date which is not a Business Day, such payment shall be
made on the next succeeding Business Day, in accordance with the Credit Agreement. 
 Upon the occurrence of any one or more Events of
Default, all amounts then remaining unpaid on this Term Loan Note may become or be declared to be immediately due and payable as provided in the Credit Agreement and other Loan Documents, without notice of default, presentment or demand for payment,
protest or notice of nonpayment or dishonor, or notices or demands of any kind, all of which are expressly waived by Borrower. 
 Borrower
agrees to pay all costs and expenses, including without limitation reasonable attorneys’ fees, incurred in connection with the interpretation or enforcement of this Term Loan Note, at the times specified in, and otherwise in accordance with,
the Credit Agreement. 
 Except as permitted by the Credit Agreement, this Term Loan Note or the indebtedness evidenced hereby may not be
assigned by Lender to any other Person. Transfer of this Term Loan Note may be effected only by a surrender of the Term Loan Note by Lender and either reissuance of the Term Loan Note or issuance of a new Term Loan Note by the Borrower to the new
lender. 
 THIS TERM LOAN NOTE SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-1-2	 	Exhibits to TLA Credit Agreement

 
			
	 SUNRUN AURORA PORTFOLIO 2014-A, LLC,

	a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-1-3	 	Exhibits to TLA Credit Agreement

							
	 Date
	  	Advance	  	Prepayment or
Repayment	  	Outstanding
Balance
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-1-4	 	Exhibits to TLA Credit Agreement

 Exhibit H-2 

Form of Working Capital Loan 

FORM OF WORKING CAPITAL LOAN NOTE 

No. [        ] 

New York, New York 

[                    ],
20[    ] 
 For value received, the undersigned, SUNRUN AURORA PORTFOLIO 2014-A, LLC, a Delaware limited liability
company (“Borrower”), unconditionally promises to pay to [            ], or its permitted assigns (the “Lender”), the principal amount of
[            DOLLARS ($            )], or if less, the aggregate unpaid and outstanding principal amount of this Working Capital
Loan Note advanced by the Lender to Borrower pursuant to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Borrower, the financial institutions as Lenders from time to time party thereto, INVESTEC BANK PLC, as administrative agent, and KEYBANK NATIONAL ASSOCIATION, as Issuing Bank, and all other amounts owed by Borrower to the
Lender hereunder. 
 Payments of principal of, and interest on, this Term Loan Note are to be made to the Administrative Agent, for the
account of the Lender, in lawful money of the United States of America. 
 This is one of the Working Capital Loan Notes referred to in
Section 2.06 of the Credit Agreement and is entitled to the benefits thereof and is subject to all terms, provisions and conditions thereof. Capitalized terms used and not defined herein shall have the meanings set forth in Section 1.01 of
the Credit Agreement. 
 This Working Capital Loan Note is made in connection with and is secured by, among other instruments, the
provisions of the Collateral Documents. Reference is hereby made to the Credit Agreement and the Collateral Documents for the provisions, among others, with respect to the custody and application of the Collateral, the nature and extent of the
security provided thereunder, the rights, duties and obligations of Borrower and the rights of the holder of this Working Capital Loan Note. 

The principal amount hereof is payable in accordance with the Credit Agreement, and such principal amount may be prepaid solely in accordance
with the Credit Agreement. 
 Borrower authorizes the Lender to record on the schedule annexed to this Working Capital Loan Note the date
and amount of each Working Capital Loan made by the Lender and each payment or prepayment of principal thereunder and agrees that all such notations shall constitute prima facie evidence of the accuracy of the matters noted. Borrower further
authorizes the Lender to attach to and make a part of this Working Capital Loan Note 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-2-1	 	Exhibits to TLA Credit Agreement

 
continuations of the schedule attached thereto as necessary. No failure to make any such notations, nor any errors in making any such notations, shall affect the validity of Borrower’s
obligations to repay the full unpaid principal amount of the Working Capital Loans. 
 Borrower further agrees to pay, in lawful money of
the United States of America and in immediately available funds, interest from the date hereof on the unpaid and outstanding principal amount hereof until such unpaid and outstanding principal amount shall become due and payable (whether at stated
maturity, by acceleration or otherwise) at the rates of interest and at the times set forth in the Credit Agreement, and Borrower agrees to pay other fees and costs as stated in the Credit Agreement at the times specified in, and otherwise in
accordance with, the Credit Agreement. 
 If any payment due on this Working Capital Loan Note becomes due and payable on a date which is
not a Business Day, such payment shall be made on the next succeeding Business Day, in accordance with the Credit Agreement. 
 Upon the
occurrence of any one or more Events of Default, all amounts then remaining unpaid on this Working Capital Loan Note may become or be declared to be immediately due and payable as provided in the Credit Agreement and other Loan Documents, without
notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor, or notices or demands of any kind, all of which are expressly waived by Borrower. 

Borrower agrees to pay all costs and expenses, including without limitation reasonable attorneys’ fees, incurred in connection with the
interpretation or enforcement of this Working Capital Loan Note, at the times specified in, and otherwise in accordance with, the Credit Agreement. 

Except as permitted by the Credit Agreement, this Working Capital Loan Note or the indebtedness evidenced hereby may not be assigned by Lender
to any other Person. Transfer of this Working Capital Loan Note may be effected only by a surrender of the Working Capital Loan Note by Lender and either reissuance of the Working Capital Loan Note or issuance of a new Working Capital Loan Note by
the Borrower to the new lender. 
 THIS WORKING CAPITAL LOAN NOTE SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-2-2	 	Exhibits to TLA Credit Agreement

 
			
	SUNRUN AURORA PORTFOLIO 2014-A, LLC,
	a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-2-3	 	Exhibits to TLA Credit Agreement

							
	 Date
	  	Advance	  	Prepayment or
Repayment	  	Outstanding
Balance
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-2-4	 	Exhibits to TLA Credit Agreement

 Exhibit H-3 

Form of LC Loan Note 
 FORM
OF LC LOAN NOTE 
 No. [        ] 

New York, New York 

[                    ],
20[    ] 
 For value received, the undersigned, SUNRUN AURORA PORTFOLIO 2014-A, LLC, a Delaware limited liability
company (“Borrower”), unconditionally promises to pay to [            ], or its permitted assigns (the “Lender”), the principal amount of
[            DOLLARS ($            )], or if less, the aggregate unpaid and outstanding principal amount of this LC Loan Note
advanced by the Lender to Borrower pursuant to that certain Credit Agreement, dated as of December 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Borrower, the financial institutions as Lenders from time to time party thereto, INVESTEC BANK PLC, as administrative agent, and KEYBANK NATIONAL ASSOCIATION, as Issuing Bank, and all other amounts owed by Borrower to the
Lender hereunder. 
 Payments of principal of, and interest on, this Term Loan Note are to be made to the Administrative Agent, for the
account of the Lender, in lawful money of the United States of America. 
 This is one of the LC Loan Notes referred to in Section 2.06
of the Credit Agreement and is entitled to the benefits thereof and is subject to all terms, provisions and conditions thereof. Capitalized terms used and not defined herein shall have the meanings set forth in Section 1.01 of the Credit
Agreement. 
 This LC Loan Note is made in connection with and is secured by, among other instruments, the provisions of the Collateral
Documents. Reference is hereby made to the Credit Agreement and the Collateral Documents for the provisions, among others, with respect to the custody and application of the Collateral, the nature and extent of the security provided thereunder, the
rights, duties and obligations of Borrower and the rights of the holder of this LC Loan Note. 
 The principal amount hereof is payable in
accordance with the Credit Agreement, and such principal amount may be prepaid solely in accordance with the Credit Agreement. 
 Borrower
authorizes the Lender to record on the schedule annexed to this LC Loan Note the date and amount of each LC Loan made by the Lender and each payment or prepayment of principal thereunder and agrees that all such notations shall constitute prima
facie evidence of the accuracy of the matters noted. Borrower further authorizes the Lender to attach to and make a part of this LC Loan Note continuations of the schedule attached thereto 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-3-1	 	Exhibits to TLA Credit Agreement

 
as necessary. No failure to make any such notations, nor any errors in making any such notations, shall affect the validity of Borrower’s obligations to repay the full unpaid principal
amount of the LC Loans. 
 Borrower further agrees to pay, in lawful money of the United States of America and in immediately available
funds, interest from the date hereof on the unpaid and outstanding principal amount hereof until such unpaid and outstanding principal amount shall become due and payable (whether at stated maturity, by acceleration or otherwise) at the rates of
interest and at the times set forth in the Credit Agreement, and Borrower agrees to pay other fees and costs as stated in the Credit Agreement at the times specified in, and otherwise in accordance with, the Credit Agreement. 

If any payment due on this LC Loan Note becomes due and payable on a date which is not a Business Day, such payment shall be made on the next
succeeding Business Day, in accordance with the Credit Agreement. 
 Upon the occurrence of any one or more Events of Default, all amounts
then remaining unpaid on this LC Loan Note may become or be declared to be immediately due and payable as provided in the Credit Agreement and other Loan Documents, without notice of default, presentment or demand for payment, protest or notice of
nonpayment or dishonor, or notices or demands of any kind, all of which are expressly waived by Borrower. 
 Borrower agrees to pay all
costs and expenses, including without limitation reasonable attorneys’ fees, incurred in connection with the interpretation or enforcement of this LC Loan Note, at the times specified in, and otherwise in accordance with, the Credit Agreement.

 Except as permitted by the Credit Agreement, this LC Loan Note or the indebtedness evidenced hereby may not be assigned by Lender to any
other Person. Transfer of this LC Loan Note may be effected only by a surrender of the LC Loan Note by Lender and either reissuance of the LC Loan Note or issuance of a new LC Loan Note by the Borrower to the new lender. 

THIS LC LOAN NOTE SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO CONFLICTS OF
LAWS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-3-2	 	Exhibits to TLA Credit Agreement

 
			
	SUNRUN AURORA PORTFOLIO 2014-A, LLC,
	a Delaware limited liability company
		
	By:	 	  

		 	Name:
		 	Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-3-3	 	Exhibits to TLA Credit Agreement

							
	 Date
	  	Advance	  	Prepayment or
Repayment	  	Outstanding
Balance
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit H-3-4	 	Exhibits to TLA Credit Agreement

 Exhibit I 

Form of Base Case Model 
 [to be
separately attached] 
  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit I-1	 	Exhibits to TLA Credit Agreement

 Exhibit J 

Form of Debt Service Coverage Ratio Certificate 

DEBT SERVICE COVERAGE RATIO CERTIFICATE 

[            ], 20     

Investec Bank plc 
 2 Gresham Street 

London, EC2V 7QP 
 United Kingdom 

Attn: Shelagh Kirkland 
  

	Re:	Sunrun Aurora Portfolio 2014-A, LLC 

 Ladies and Gentlemen: 

This certificate (this “Certificate”) is delivered to you pursuant to Section 7.01(a)(v) of that certain Credit Agreement, dated
as of December 31, 2014 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company
(the “Borrower”), the financial institutions as Lenders from time to time party thereto (each individually a “Lender” and, collectively, the “Lenders”), Investec Bank plc, as administrative agent for the
Lenders (in such capacity, and together with its successors and permitted assigns, the “Administrative Agent”) and KeyBank National Association, as Issuing Bank. Capitalized terms used herein and not otherwise defined herein have
the meanings given to them in the Credit Agreement. 
 The Borrower hereby certifies to the Administrative Agent that, as of the date hereof, attached
hereto as Appendix A are calculations showing the Debt Service Coverage Ratio for the twelve-month period ending on the Calculation Date immediately preceding this Certificate (or, if less than twelve months have elapsed since the Closing Date to
such Calculation Date, the period from the Closing Date and ending on such Calculation Date), and otherwise calculated in good faith and a manner consistent in all material respects with and supported by the Base Case Model. 

[remainder of page intentionally blank] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit J-1	 	Exhibits to TLA Credit Agreement

 IN WITNESS WHEREOF, the Borrower has caused this Certificate to be duly executed and delivered as
of the date first written above. 
  

							
		 		 	 BORROWER:
  

SUNRUN AURORA PORTFOLIO 2014-A, LLC

				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit J-2	 	Exhibits to TLA Credit Agreement

 Appendix A to Debt Service Coverage Ratio Certificate 

Debt Service Coverage Ratio Calculations 
 See
attached. 
  
  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit J-3	 	Exhibits to TLA Credit Agreement

 Exhibit K 

Form of Financial Statement Certificate 

OFFICER’S CERTIFICATE 

December [    ], 2014 

The undersigned officer of Sunrun Inc., a Delaware corporation and the sole member (“Sponsor”) of Sunrun Aurora Holdco 2014,
LLC, a Delaware limited liability company (“Intermediate Holdco”), which in turn is the sole member of Sunrun Aurora Portfolio 2014-B, LLC, a Delaware limited liability company (“Pledgor”), and which in turn is the
sole member of Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company (“Borrower”), hereby delivers this Officer’s Certificate pursuant to Section 7.01(a)(vi) of that certain Credit Agreement,
dated as of the date hereof (“Credit Agreement”), among the Borrower, the financial institutions as Lenders from time to time party hereto (each individually a “Lender” and, collectively, the
“Lenders”), Investec Bank PLC, as Administrative Agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the “Administrative Agent”) and KeyBank National Association, as
Issuing Bank (in such capacity, and together with its successors and permitted assigns, the “Issuing Bank”). Capitalized terms used herein which are not otherwise defined herein shall have the meanings assigned to such terms in the
Credit Agreement. 
 The undersigned hereby certifies as of the date hereof on behalf of the Sponsor and each Opco and not in such
person’s individual capacity that the [audited Financial Statements of Sponsor and the Borrower (on a consolidated basis for the applicable Person and its subsidiaries) for the calendar year ended [    ],] [unaudited
Financial Statements of each of the Sponsor, the Borrower and each Opco (on a consolidated basis for the applicable Person and its subsidiaries) for the calendar quarter ended [    ]], provided to the Administrative Agent
pursuant to Section 7.01(a)(vi) of the Credit Agreement, fairly present the financial condition and results of operations of the Sponsor and the applicable Relevant Party on a consolidated basis for the period covered thereby in
accordance with GAAP (subject, in the case of any such unaudited Financial Statements, to changes resulting from audit and normal year-end adjustments, including the absence of footnotes and subject to validation of individual Subsidiary capital
accounts in calculating net loss attributable to noncontrolling interests in conformity with GAAP). 
 [remainder of page intentionally
blank] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit K-1	  	Exhibits to TLA Credit Agreement

 IN WITNESS WHEREOF, the undersigned has executed and delivered this Officer’s Certificate
and caused it to be delivered as of the date first written above. 
  

							
	 SUNRUN AURORA PORTFOLIO 2014-A, LLC

			
		 	 By:
	 	Sunrun Aurora Portfolio 2014-B, LLC
		 	Its:	 	Sole Member

  

							
				
		 		 	By:	 	Sunrun Aurora Holdco 2014, LLC
		 		 	Its:	 	Sole Member

  

									
		 		 		 	By:	 	Sunrun Inc.
		 		 		 	Its:	 	Sole Member

  

			
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	SUNRUN INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit L-2	 	Exhibits to TLA Credit Agreement

 
			
	SUNRUN INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit L-3	 	Exhibits to TLA Credit Agreement

 Exhibit L 

Initial Budget 
 See attached. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Exhibit L-1	 	Exhibits to TLA Credit Agreement

 Schedule IV 

Administrative Agent’s Office 

Administrative Agent Address 
 Administrative Agent
Account Information 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Schedules to TLA Credit Agreement		

 Schedule 2.01 

Lenders’ Commitments 
  

					
	 TERM LENDERS
	 	 Initial Term Loan Commitment
	  	 Delayed Draw Commitment

			
	 [***]
	 	[***]	  	[***]
			
	 [***]
	 	[***]	  	[***]
			
	 [***]
	 	[***]	  	[***]
			
	 [***]
	 	[***]	  	[***]
			
	 [***]
	 	[***]	  	[***]
			
	 [***]
	 	[***]	  	[***]
			
	 Total
	 	[***]	  	[***]
			
	 LC LENDER
	 	 LC Commitment
	  	 
			
	 [***]
	 	[***]	  	
			
	 WORKING CAPITAL LENDER
	 	 Working Capital Commitment
	  	 
			
	 [[***]
	 	[***]	  	

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.03(f) 

Pre-Closing Organizational Structure 

[See attached] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Schedules to TLA Credit Agreement		

 Schedule 6.03(f) 

Pre-Closing Organizational Structure 

[***] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Schedules to TLA Credit Agreement		

 Schedule 6.03(g) 

Post-Closing Organizational Structure 

[See attached] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.03(g) 

Post-Closing Organizational Structure 

[***] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.03(h) 

Subsidiaries 
  

							
	 Entity Name
	  	 Jurisdiction
	  	 Registered Owner
	  	Percentage of
Ownership
	 Sunrun Aurora Holdco 2014, LLC
	  	Delaware	  	Sunrun Inc.	  	100%
	 Sunrun Aurora Portfolio 2014-A, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-B, LLC+	  	100%
	 Sunrun Aurora Portfolio 2014-B, LLC
	  	Delaware	  	Sunrun Aurora Holdco 2014, LLC, managed by its sole member Sunrun Inc.	  	100%
	 SunRun Solar Owner I, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 SunRun Solar Owner II, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 SunRun Solar Owner III, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 SunRun Solar Tenant I, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 SunRun Solar Tenant II, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 SunRun Solar Tenant III, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 SunRun Solar Owner Holdco VIII, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 Sunrun Solar Owner Holdco XI, LLC
	  	California	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 Sunrun Solar Owner Holdco XII, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 Sunrun Solar Owner Holdco XVII, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%
	 Sunrun Solar Owner Holdco XVIII, LLC
	  	Delaware	  	Sunrun Aurora Portfolio 2014-A, LLC*	  	100%

  

	+ 	Sunrun Aurora Portfolio 2014-B, LLC is managed by its sole member Sunrun Aurora Holdco, LLC which is managed by its sole member Sunrun Inc. 

	*	Sunrun Aurora Portfolio 2014-A, LLC is managed by its sole member, Sunrun Aurora Portfolio 2014-B, LLC which is managed by its sole member Sunrun Aurora Holdco 2014, LLC which is managed by its sole member Sunrun Inc.

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Schedules to TLA Credit Agreement	 	

							
	 Entity Name
	  	 Jurisdiction
	    	 Registered Owner
	  	 Percentage of
Ownership

		  		    	LLC*	  	
				
	 SunRun Solar Owner VIII, LLC
	  	Delaware	    	[***]	  	Variable
	  	    	SunRun Solar Owner Holdco VIII, LLC	  	Variable
				
	 SunRun Solar Owner XVIII, LLC
	  	Delaware	    	[***]	  	Variable
	  	    	Sunrun Solar Owner Holdco XVIII, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC*	  	Variable
				
	 SunRun Solar Owner XI, LLC
	  	California	    	SunRun Solar Tenant XI, LLC, managed by its sole member Sunrun Solar Owner Holdco XI, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC*	  	49.99
	  	    	Sunrun Solar Owner Holdco XI, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC*	  	50.01
				
	 SunRun Solar Owner XII, LLC
	  	Delaware	    	[***]	  	Variable
	  	    	Sunrun Solar Owner Holdco XII, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC*	  	Variable
				
	 SunRun Solar Owner XVII, LLC
	  	Delaware	    	[***]	  	Variable
	  	    	Sunrun Solar Owner Holdco XVII, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC*	  	Variable
				
	 SunRun Solar Tenant XI, LLC
	  	California	    	[***]	  	99.99%
		  		    	Sunrun Solar Owner Holdco XI, LLC, managed by its sole member Sunrun Aurora Portfolio 2014-A, LLC*	  	0.01%

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	Schedules to TLA Credit Agreement	 	

 Schedule 6.04 

Governmental Authorization; Compliance with Laws 

Loan and Security Agreement, dated as of August 31, 2010 (as amended, amended and restated or otherwise modified from time to time), by and between
Comerica Bank and Sunrun Inc. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.08 

Financial Statement Exceptions 

None 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.10 

Litigation; Adverse Facts 

[* * *] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.11 

Taxes 
 None 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.14 

Insurance 
 [***]

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.19 

Brokers 
 None 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.23(g) 

Portfolio Document Exceptions 

[***] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule 6.23(n) 

Project States 
 State of Arizona 

State of California 
 State of Colorado 

State of Connecticut 
 State of Delaware 

State of Hawaii 
 State of Maryland 

Commonwealth of Massachusetts 
 State of Nevada 

State of New Jersey 
 State of New York 

State of Oregon 
 Commonwealth of Pennsylvania 

District of Columbia 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Schedule A 

Project Information 
 [To
be separately attached] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 Execution Version 1 

WAIVER AND FIRST AMENDMENT TO CREDIT AGREEMENT 

This WAIVER AND FIRST AMENDMENT TO THE CREDIT AGREEMENT, dated as of March [_], 2015 (this “Amendment”), is entered into
among the undersigned in connection with that certain Credit Agreement, dated as of December 31, 2014 (the “Credit Agreement”), by and among Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company as Borrower,
Investec Bank PLC, as Administrative Agent, KeyBank, N.A., as Issuing Bank, and the financial institutions party thereto as Lenders from time to time. Terms which are capitalized in this Amendment and not otherwise defined shall have the meanings
ascribed to such terms in the Credit Agreement. 
 W I T N E S S E T H 

WHEREAS, the Borrower wishes to make certain amendments to its reporting requirements under Section 7.01(a) of the Credit Agreement, and
the Administrative Agent and the Lenders party hereto wish to agree to make such amendments; and 
 WHEREAS, the Borrower also wishes to
receive certain waivers from the Administrative Agent and the Lenders party hereto in connection with certain of its reporting requirements under Section 7.01(c) of the Credit Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 I. Amendments. Subject to the
satisfaction of the conditions set forth in Article III below, the following amendments are hereby accepted and agreed by the parties hereto: 

1. Section 7.01(a)(iii) of the Credit Agreement is hereby amended by deleting the first sentence in its entirety and replacing it with
the following: 
 “The Borrower shall cause the Manager to provide to the Administrative Agent and the Independent Engineer the
quarterly Manager’s report (as defined in the Management Agreement), no later than forty five (45) days after the end of the fiscal quarter of the Borrower, commencing with the fiscal quarter ended March 31, 2015, in the form attached
as Exhibit B to the Management Agreement.”. 
 2. Section 7.01(a)(iv) of the Credit Agreement is hereby amended by deleting the
first sentence in its entirety and replacing it with the following: 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Schedules to TLA Credit Agreement		

 “The Borrower shall cause the Operators to provide to the Administrative Agent and the
Independent Engineer all reports required pursuant to O&M Agreements at such time and in such manner as provided therein; provided that any reports in respect of a fiscal quarter shall commence with the fiscal quarter ended March 31,
2015 and any reports in respect of a fiscal year shall commence with the fiscal year ended December 31, 2015.”. 
 II. Waiver. At the
request of Borrower , subject to the satisfaction of the conditions set forth in Article III below, the Administrative Agent and each Lender party hereto hereby waives the obligation of the Borrower, in accordance with the requirements under
Section 7.01(c) of the Credit Agreement, to deliver an Annual Tracking Model for the 2014 fiscal year in respect of Owner XVII and Owner XVIII (collectively, the “Waiver”). 

III. Conditions Precedent to Effectiveness. The amendments contained in Article I and the Waiver shall not be effective unless each of the
following conditions precedent is satisfied (the date on which all such conditions have been satisfied being referred to herein as the “First Amendment Effective Date”): 

1. Execution by the Borrower, the Administrative Agent and each Lender party hereto of this Amendment; and 

2. Payment by the Borrower of the fees, costs and expenses of the Administrative Agent and the Lenders party hereto incurred in connection
with the execution and delivery of this Amendment (including third-party fees and out-of-pocket expenses of lenders counsel, the [* * *] and other advisors or consultants retained by the Administrative Agent). 

IV. Representations and Warranties. The Borrower represents and warrants to the Administrative Agent and each Lender party hereto: 

(a) Power and Authority; Authorization. The Borrower has all requisite power and authority to execute, deliver and perform its
obligations under this Amendment and the Borrower has all requisite power and authority to perform its obligations under the Credit Agreement, as amended by this Amendment (as so amended, the “Amended Credit Agreement”). The
Borrower has duly authorized, executed and delivered this Amendment. 
 (b) Enforceability. Each of this Amendment and the Amended
Credit Agreement is a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except to the extent that enforceability may be limited by (i) applicable bankruptcy, insolvency,
moratorium, reorganization or other similar laws affecting the enforcement of creditors’ rights, (ii) the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law)
or (iii) implied covenants of good faith and fair dealing. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-2-		

 (c) Credit Agreement Representations and Warranties. Each of the representations and
warranties set forth in the Credit Agreement and applicable to the Loan Parties is true and correct both before and after giving effect to this Amendment, except to the extent that any such representation and warranty relates solely to any earlier
date, in which case such representation and warranty is true and correct as of such earlier date. 
 (d) Defaults. No event has
occurred or is continuing as of the date hereof, or will result from the transactions contemplated hereby on the date hereof, that would constitute an Event of Default or a Default after giving effect to the Waiver. 

V. Limited Amendment. The amendments set forth in Article I of this Amendment shall be effective only in the specific instances described herein
and nothing herein shall be construed to limit or bar any rights or remedies of the Lenders. For the avoidance of doubt and without limiting the generality of the foregoing, the parties agree that no other change, amendment or consent with respect
to the terms and provisions of any of the Loan Documents is intended or contemplated hereby (which terms and provisions remain unchanged and in full force and effect other than as expressly set forth herein). From and after the effective date of
this Agreement, all references to the Credit Agreement in any Loan Document shall, unless expressly provided otherwise, refer to the Amended Credit Agreement. 

VI. Miscellaneous. 
 1.
Counterparts. This Amendment may be executed in one or more duplicate counterparts and by facsimile or other electronic delivery and by different parties on different counterparts, each of which shall constitute an original, but all of which
shall constitute a single document and when signed by all of the parties listed below shall constitute a single binding document. 
 2.
Severability. In case any one or more of the provisions contained in this Amendment should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby, and the parties hereto shall enter into good faith negotiations to replace the invalid, illegal or unenforceable provision. 

3. Governing Law, etc.. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK. THE PROVISIONS IN
SECTIONS 13.08(b) THROUGH (d) AND SECTION 13.09 of the Credit Agreement shall apply, mutatis mutandis, to this Amendment and the parties hereto. 

4. Loan Document. This Amendment shall be deemed to be a Loan Document for all purposes of the Credit Agreement and each other Loan
Document. 
 5. Headings. Paragraph headings have been inserted in this Amendment as a matter of convenience for reference only and
it is agreed that such paragraph headings are not a part of this Amendment and shall not be used in the interpretation of any provision of this Amendment. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-3-		

 [Signature Pages Follow] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-4-		

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their duly
authorized officers as of the day and year first above written. 
  

			
	SUNRUN AURORA PORTFOLIO 2014-A, LLC,
	 as Borrower

		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

Schedules to TLA Credit Agreement 

 
			
	INVESTEC BANK PLC,
	 as Administrative Agent

		
	By:		  

			Name:
			Title:
		
	By:		  

			Name:
			Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

-2- 

 
			
	INVESTEC BANK PLC,
	as Lender
		
	By:		  

			Name:
			Title:
		
	By:		  

			Name:
			Title:

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

-3- 

 
			
	[KEYBANK NATIONAL ASSOCIATION,
	as Lender]
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-4-		

			
	[ONEWEST BANK N.A.,
	as Lender]
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-5-		

			
	[ROYAL BANK OF CANADA,
	as Lender]
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-6-		

			
	[SUNTRUST BANK,
	as Lender]
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-7-		

			
	[SILICON VALLEY BANK,
	as Lender]
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-8-		

 Execution Version 

CONSENT, ACKNOWLEDGEMENT AND SECOND AMENDMENT TO CREDIT AGREEMENT 

This CONSENT, ACKNOWLEDGEMENT AND SECOND AMENDMENT TO THE CREDIT AGREEMENT, dated as of April 27, 2015 (this
“Amendment”), is entered into among the undersigned in connection with that certain Credit Agreement, dated as of December 31, 2014, by and among Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company, as
Borrower, Investec Bank PLC, as Administrative Agent, KeyBank, N.A., as Issuing Bank, and the financial institutions party thereto as Lenders from time to time, as amended by that certain Waiver and First Amendment to the Credit Agreement, dated as
of March 25, 2015, by and among the Borrower, the Administrative Agent and the Lenders party thereto (the “Credit Agreement”). Terms which are capitalized in this Amendment and not otherwise defined shall have the meanings
ascribed to such terms in the Credit Agreement. 
 W I T N E S S E T H 

WHEREAS, the Borrower wishes to make certain amendments to the Credit Agreement, and the Lender Parties and the Secured Hedge Providers wish
to agree to make such amendments; 
 WHEREAS, in connection with and in order to implement certain of the amendments to the Credit
Agreement, the Borrower wishes to obtain consent from the Lender Parties and the Secured Hedge Providers to (i) take a contribution of and hold all of the membership interests in Sunrun Aurora Manager 2014, LLC, a Delaware limited liability
company (“Wholly Owned Holdco”), (ii) enter into the Contribution Agreement attached hereto as Exhibit J (the “Contribution Agreement”), which will change the ownership structure of the Relevant Parties
as set forth therein and (iii) amend and restate the operating agreements of each Wholly Owned Opco in order to reflect Wholly Owned Holdco as the sole member thereof (collectively, the “Restructuring”); 

WHEREAS, in connection with and in order to implement the Restructuring, Borrower wishes (i) the Lender Parties and the Secured Hedge
Providers to authorize (the “Authorization”) the Collateral Agent to release its security interests in the Owner Membership Interests and the Tenant Membership Interests (collectively, the “Wholly Owned Opco Membership
Interests”) and (ii) the Collateral Agent to implement such release of the Wholly Owned Opco Membership Interests (the “Release”) upon the effectiveness of this Amendment, at which point (A) a new pledge of the
Wholly Owned Opco Membership Interests will be effectuated by the execution of and delivery of the pledge agreement in the form attached hereto as Exhibit K (the “Wholly Owned Holdco Guaranty and Pledge Agreement”) together
with delivery to the Collateral Agent of new membership interests certificates and blank transfers powers for the Wholly Owned Opcos reflecting Wholly Owned Holdco as the sole member of each such entity and (B) the Pledge and Security Agreement
will be amended and restated in the form attached hereto as Exhibit L (the “A&R Pledge and Security Agreement”) together with delivery to the Collateral Agent of membership interests certificates and blank transfers
powers for Wholly Owned Holdco reflecting Borrower as the sole member of such entity. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			Schedules to TLA Credit Agreement		

 WHEREAS, the Borrower also wishes to obtain consent from the Lender Parties and the Secured Hedge
Providers in respect of: (i) an amendment to the Limited Liability Company Agreement of Owner XII in the form attached hereto as Exhibit A (the “Owner XII LLC Agreement Amendment”; (ii) an amendment to the Limited
Liability Company Agreement of Tenant XI in the form attached hereto as Exhibit B (the “Tenant XI LLC Agreement Amendment”); (iii) an amendment to the Limited Liability Company Agreement of Owner XI in the form attached
hereto as Exhibit C (the “Owner XI LLC Agreement Amendment”); (iv) an amendment to the Inverted Lease O&M Agreement in the form attached hereto as Exhibit D (the “Inverted Lease O&M Agreement
Amendment”); (v) an amendment to the Master Lease by and between the Inverted Lease Tax Equity Opcos in the form attached hereto as Exhibit F (the “Inverted Lease Master Lease Amendment”); (vi) an amendment
to the Limited Liability Company Agreement of Owner XVII in the form attached hereto as Exhibit G (the “Owner XVII LLC Agreement Amendment”); (vii) an amendment to the Owner XVII Master Purchase Agreement in the form
attached hereto as Exhibit H (the “Owner XVII Master Purchase Agreement Amendment”); (viii) an amendment to the Contribution Note (as defined in the Limited Liability Company Agreement of Owner XVII) in the form attached
hereto as Exhibit I (the “Owner XVII Contribution Note Amendment” and, together with the Owner XII LLC Agreement Amendment, the Tenant XI LLC Agreement Amendment, the Owner XI LLC Agreement Amendment, the Inverted Lease
O&M Agreement Amendment, the Inverted Lease Master Lease Amendment, the Owner XVII LLC Agreement Amendment, and the Owner XVII Master Purchase Agreement Amendment the “Tax Equity Documents Amendments”); and (vi) the
Inverted Lease Back-Up Servicing Agreement in the form attached hereto as Exhibit E pursuant to Section 7.26(a) of the Credit Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 I. Amendments. Subject to the
satisfaction of the conditions set forth in Article III below, the following amendments are hereby accepted and agreed by the parties hereto: 

1. Inverted Lease Back-up Servicer Amendments. The defined term for “Inverted Lease Back-up Servicing Agreement” in
Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 
 ““Inverted
Lease Back-Up Servicing Agreement” shall mean that certain Back-up Servicing Agreement, dated as of March 31, 2015, by and among the Back-up Servicer, Tenant XI and the Operator under the Operation and Maintenance Agreement dated as of
[***], by and between Tenant XI and Operator, and each replacement for such agreement in a form and substance 

  
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acceptable to the Administrative Agent entered into with a replacement back-up servicer in accordance with the terms and conditions hereof and the Inverted Lease Back-Up Servicing
Agreement.”. 
 2. New Intermediate Holding Company. 

(a) The fourth Recital to the Credit Agreement is hereby deleted in its entirety and replaced with the following: 

“WHEREAS, the Borrower owns 100% of the membership interests in each of SunRun Solar Owner Holdco VIII, LLC, a Delaware limited liability
company (“Holdco VIII”), Sunrun Solar Owner Holdco XI, LLC, a California limited liability company (“Holdco XI”), Sunrun Solar Owner Holdco XII, LLC, a Delaware limited liability company (“Holdco
XII”), Sunrun Solar Owner Holdco XVII, LLC, a Delaware limited liability company (“Holdco XVII”), Sunrun Solar Owner Holdco XVIII, LLC, a Delaware limited liability company (“Holdco XVIII”), and Sunrun
Aurora Manager 2014, LLC, a Delaware limited liability company (“Wholly Owned Holdco”).”. 
 (b) The following new
recital is added to the Recitals in the Credit Agreement immediately after the fourth Recital: 
 “WHEREAS, Wholly Owned Holdco owns
100% of (i) SunRun Solar Owner I, LLC, a California limited liability company, SunRun Solar Owner II, LLC, a California limited liability company, SunRun Solar Owner III, LLC, a California limited liability company (together with SunRun Solar
Owner I, LLC and SunRun Solar Owner II, LLC, the “Owner Companies”) and (ii) SunRun Solar Tenant I, LLC, a California limited liability company, SunRun Solar Tenant II, LLC, a California limited liability company, SunRun Solar
Tenant III, LLC, a California limited liability company (together with SunRun Solar Tenant I, LLC and SunRun Solar Tenant II, LLC, the “Tenant Companies” and, together with the Owner Companies, the Wholly Owned Holdco, Holdco VIII,
Holdco XI, Holdco XII, Holdco XVII and Holdco XVIII, collectively, the “Guarantors”)”. 
 (c) The following new
defined term “Amendment No. 2” is hereby added to Section 1.01 of the Credit Agreement (in proper alphanumeric order): 

“‘Amendment No. 2’” shall mean that certain Consent, Acknowledgment and Second Amendment to the Credit
Agreement, dated as of April 27, 2015, by and among the Borrower, the Administrative Agent, the Issuing Bank and the Lenders and Secured Hedge Providers party thereto.”. 

  
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 (d) The defined term for “Base Case Model” in Section 1.01 of the Credit Agreement
is hereby deleted in its entirety and replaced with the following: 
 “‘Base Case Model’ shall mean the comprehensive
long-term financial model attached as Exhibit I to this Agreement, as updated in accordance with Amendment No. 2, reflecting among other things (i) quarterly payment periods ending on each Payment Date and (ii) the Cash
Available for Debt Service from the Eligible Projects and Debt Service after giving effect to the transactions contemplated by the Transaction Documents and the making of the Loans, covering the period from the Closing Date until the Deemed Full
Amortization Date. The Base Case Model shall be further updated in accordance with Section 10.02(c), in a form and substance reasonably satisfactory to the Administrative Agent, and with such assumptions and formulae as the initial model
except to the extent required to be updated for any change affecting Cash Available for Debt Service.”. 
 (e) The defined term for
“Change of Control” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 

“‘Change of Control’ shall occur if, after giving effect to the Distribution and Contribution Transactions and the
Contribution Transactions, (a) the Sponsor ceases to indirectly beneficially own and control at least 51% of the Borrower Membership Interests; (b) the Borrower ceases to directly or indirectly beneficially own and control 100% of the
outstanding Owner Membership Interests, Tenant Membership Interests and Holdco Membership Interests, (c) Holdco VIII ceases to beneficially own and control 100% of the outstanding Owner VIII Membership Interests, (d) Holdco XI ceases to
beneficially own and control 100% of the outstanding Owner XI Membership Interests and Tenant XI Membership Interests, (e) Holdco XII ceases to beneficially own and control 100% of the outstanding Owner XII Membership Interests, (f) Holdco
XVII ceases to beneficially own and control 100% of the outstanding Owner XVII Membership Interests, (g) Holdco XVIII ceases to beneficially own and control 100% of the outstanding Owner XVIII Membership Interests, (h) Wholly Owned Holdco
ceases to beneficially own and control 100% of the outstanding Owner Membership Interests and 100% of the outstanding Tenant Membership Interests or (i) the Pledgor ceases to directly beneficially own and control 100% of the outstanding
Borrower Membership Interests. 
 Notwithstanding the foregoing, any Change of Control occurring solely as a result of the exercise of
remedies by the Other Lenders (or the Other Collateral Agent on their behalf) under the Other Loan Documents, including in connection with a foreclosure (whether judicial or non-judicial) on, or other

  
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sale of, all of the Capital Stock in the Pledgor, shall not be considered a “Change of Control” for purposes of this definition; provided that (i) exercise of such remedies
is permitted under the Tax Equity Documents (including pursuant to the [***] Consent), (ii) any transfer of the Capital Stock in the Pledgor is to the Other Collateral Agent, an Other Lender or a Lender Controlled Transferee (each, a
“Foreclosure Transferee”) and (iii) such transferee has contracted with a financially capable replacement Operator who has the Relevant Experience to the extent the Projects are not operated by a Person with the Relevant
Experience. 
 A “Change of Control” shall be deemed to occur (A) on any subsequent transfer of the Capital Stock in the
Pledgor by a Foreclosure Transferee to a third party or (B) if the Other Lenders, in the aggregate, shall otherwise fail to indirectly beneficially own and control at least 51% of the Borrower Membership Interests; provided, that no
Change of Control shall be deemed to have occurred pursuant to this paragraph if (i) such transfer is permitted under the Tax Equity Documents (including pursuant to a the [***] Consent) and (ii) the Person other than the Other Lenders
maintaining such interests in the Pledgor is a Qualified Owner.”. 
 (f) The defined term for “Collateral Documents “ in
Section 1.01 of the Credit Agreement is hereby amended by replacing the reference to “Guaranty and Pledge Agreement” with a reference to “Guaranty and Pledge Agreements”. 

(g) The following new defined term “Contribution Agreement” is hereby added to Section 1.01 of the Credit Agreement (in proper
alphanumeric order): 
 “‘Contribution Agreement” shall mean the Contribution Agreement dated the date hereof among
the Borrower, Sponsor, Intermediate Holdco, Pledgor and Wholly Owned Holdco.”. 
 (h) The following new defined term “Contribution
Transactions” is hereby added to Section 1.01 of the Credit Agreement (in proper alphanumeric order): 
 “Contribution
Transactions” shall mean the contribution transactions contemplated under the Contribution Agreement such that the Owner Membership Interests and Tenant Membership Interests are all under the ownership of Wholly Owned Holdco.”. 

(i) The defined term for “Guaranty and Pledge Agreement” in Section 1.01 of the Credit Agreement is hereby deleted in its
entirety and replaced with the following: 

  
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 “‘Guaranty and Pledge Agreement’ shall mean each of (a) the Guaranty
and Security Agreement executed by each of the Holdcos on the Closing Date in favor of the Collateral Agent for the benefit of the Secured Parties and (b) the Wholly Owned Holdco Guaranty and Pledge Agreement.”. 

(j) The defined term for “Guaranty and Security Agreement” in Section 1.01 of the Credit Agreement is hereby deleted in its
entirety and replaced with the following: 
 “‘Guaranty and Security Agreement” shall mean the Guaranty and Security
Agreement dated as of the Closing Date executed by each Wholly Owned Opco in favor of the Collateral Agent for the benefit of the Secured Parties.”. 

(k) The defined term for “Holdco Membership Interests” in Section 1.01 of the Credit Agreement is hereby deleted in its
entirety and replaced with the following: 
 “‘Holdco Membership Interests’ shall mean the Holdco VIII Membership
Interests, the Holdco XI Membership Interests, the Holdco XII Membership Interests, the Holdco XVII Membership Interests, the Holdco XVIII Membership Interests and the Wholly Owned Holdco Membership Interests.”. 

(l) The defined term for “Holdcos” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with
the following: 
 “‘Holdcos’ shall mean each of Holdco VIII, Holdco XI, Holdco XII, Holdco XVII, Holdco XVIII and
Wholly Owned Holdco.”. 
 (m) The following new defined term “LC Commitment Fee” is hereby added to Section 1.01 of the
Credit Agreement (in proper alphanumeric order): 
 “‘LC Commitment Fee’ shall mean an amount equal to the product of
1.0% per annum and the average unused LC Commitment (regardless of whether any conditions for issuance, extension or increase of the Stated Amount of a Letter of Credit could then be met and determined as of the close of business on any date of
determination), for each day from the Closing Date through the expiration or earlier termination of the LC Availability Period.”. 

(n) The defined term for “Pledge and Security Agreement” in Section 1.01 of the Credit Agreement is hereby deleted in its
entirety and replaced with the following: 
 “‘Pledge and Security Agreement’ shall mean that certain amended and
restated pledge and security agreement dated as of April 27, 2015 by and between the Borrower and the Collateral Agent for the benefit of the Secured Parties.”. 

  
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 (o) The defined term for “Project Pool” in Section 1.01 of the Credit Agreement is
hereby deleted in its entirety and replaced with the following: 
 “‘Project Pool’ means a series of Eligible Projects
sold to Owner XVII or Owner XVIII in accordance with the applicable Master Purchase Agreement each of which has been Placed in Service and which has not been incorporated into the Base Case Model prior to the Subsequent Advance Date for such series
of Eligible Projects; provided that the Project Pool in respect of the first borrowing to occur after Amendment No. 2 may incorporate those Eligible Projects which are included within the “Amendment Project Pool” as defined in
Amendment No. 2.”. 
 (p) The following new defined term “Wholly Owned Holdco” is hereby added to Section 1.01 of
the Credit Agreement (in proper alphanumeric order): 
 “‘Wholly Owned Holdco” has the meaning given to it in the
Recitals.”. 
 (q) The following new defined term “Wholly Owned Holdco Guaranty and Pledge Agreement” is hereby added to
Section 1.01 of the Credit Agreement (in proper alphanumeric order): 
 “‘Wholly Owned Holdco Guaranty and Pledge
Agreement’ shall mean that certain Guaranty and Security Agreement dated as of April 27, 2015 executed by the Wholly Owned Holdco in favor of the Collateral Agent for the benefit of the Secured Parties.”. 

(r) The following new defined term “Wholly Owned Holdco Membership Interests” is hereby added to Section 1.01 of the Credit
Agreement (in proper alphanumeric order): 
 “‘Wholly Owned Holdco Membership Interests’ shall mean all of the
outstanding limited liability company interests issued by Wholly Owned Holdco (including all Economic Interests and Voting Rights).”. 

(s) A new Section 5.06(f) is included in the Credit Agreement as follows (such that the existing Section 5.06(f) is renumbered as
Section 5.06(g)): 
 (g) The Borrower agrees to pay to the Administrative Agent, for the account of each LC Lender pro rata to their LC
Commitments, the LC Commitment Fee, payable quarterly in arrears on (i) each Payment Date and (ii) the final day of the LC Availability Period. 

(t) Section 6.03(a) of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 

  
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 “Upon the consummation of the Distribution and Contribution Transactions on the Closing
Date, the Borrower shall be the sole member of each of the Wholly Owned Opcos and the Holdcos, and shall have good and valid legal and beneficial title to all of the Membership Interests issued by such entities, free and clear of all Liens other
than Permitted Liens. All of such issued and outstanding Membership Interests have been duly authorized and validly issued and, upon the consummation of the Distribution and Contribution Transactions on the Closing Date, are owned of record and
beneficially by the Borrower and were not issued in violation of any preemptive right. There are no voting agreements or other similar agreements with respect to the Membership Interests. Upon the consummation of the Contribution Transactions on
April 27, 2015, Wholly Owned Holdco shall be the sole member of the Wholly Owned Opcos and shall have good and valid legal and beneficial title to all of the Membership Interests issued by such entities, free and clear of all Liens other than
Permitted Liens. All of such issued and outstanding Membership Interests have been duly authorized and validly issued and, upon the consummation of the Contribution Transactions on April 27, 2015, are owned of record and beneficially by Wholly
Owned Holdco and were not issued in violation of any preemptive right. There are no voting agreements or other similar agreements with respect to the Membership Interests issued by the Wholly Owned Opcos.”. 

(u) Section 6.03(c) of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 

“Each Holdco (other than Wholly Owned Holdco) has good and valid legal and beneficial title to all of the Managing Member Membership
Interests in the applicable Tax Equity Opco held by it, and Wholly Owned Holdco has good and beneficial title to all of the Owner Membership Interests and the Tenant Membership Interests, in each case free and clear of all Liens other than Permitted
Liens. All of the issued and outstanding Managing Member Membership Interests, Owner Membership Interests and Tenant Membership Interests have been duly authorized and validly issued and, as of the Closing Date, are owned of record and beneficially
by the Holdco identified in the Recitals and were not issued in violation of any preemptive right. There are no voting agreements or other similar agreements with respect to the Managing Member Membership Interests, Owner Membership Interests or
Tenant Membership Interests.”. 
  

  
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 (v) Section 6.03(e) of the Credit Agreement is hereby deleted in its entirety and replaced
with the following: 
 “Other than (i) as of the Closing Date, pursuant to the Omnibus Distribution and Contribution Agreement and
(ii) as of April 27, 2015, pursuant to the Contribution Agreement, there are no outstanding options, warrants or rights for conversion into or acquisition, purchase or transfer of any of the Membership Interests. Except for (i) the
call rights of the Holdcos (other than Wholly Owned Holdco) under the Tax Equity Documents, with respect to the membership interests of the Tax Equity Members in the Tax Equity Opcos and (ii) the withdrawal right of [***] to Holdco XI under the
Tax Equity Documents, in respect of [***] membership interests in Tenant XI, there are no outstanding options, warrants or rights for conversion into or acquisition, purchase or transfer of any of the membership interests in a Tax Equity Opco. There
are no agreements or arrangements for the issuance by any Relevant Party of additional equity interests.”. 
 (w) Section 6.03(g)
of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 
 “After the consummation of the
Distribution and Contribution Transactions on the Closing Date and the Contribution Transactions on April 27, 2015, Schedule 6.03(g) accurately sets forth the ownership structure of the Relevant Parties underneath the Sponsor. The
Borrower has no subsidiaries other than as shown on Schedule 6.03(g).”. 
 (x) Schedule 6.03(g) (Post-Closing Organizational
Structure) to the Credit Agreement is hereby deleted in its entirety and replaced with the Schedule 6.03(g) attached to this Amendment. 

(y) Schedule 6.03(h) (Subsidiaries) to the Credit Agreement is hereby deleted in its entirety and replaced with the Schedule
6.03(h) attached to this Amendment. 
 (z) Section 7.01(a)(i) of the Credit Agreement is hereby amended such that the text “,
and the Financial Statements of the Wholly Owned Opcos shall be provided as consolidated into Wholly Owned Holdco” is added after the text: “except that the Financial Statements of Owner XI and Tenant XI shall be provided as consolidated
into Holdco XI”. 
 (aa) Section 7.01(a)(ii) of the Credit Agreement is hereby amended such that the text “, and the
Financial Statements of the Wholly Owned Opcos shall be provided as consolidated into Wholly Owned Holdco” is added after the text: “The Financial Statements of Owner XI and Tenant XI shall be consolidated into Holdco XI”. 

(bb) Section 8.01(c)(ii) of the Credit Agreement is hereby amended such that the text “March 31, 2015” is deleted and replaced
with “May 31, 2015”. 

  
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 (cc) Section 9.01(i) of the Credit Agreement is hereby amended by replacing the reference to
“Guaranty and Pledge Agreement” with a reference to “Guaranty and Pledge Agreements”. 
 (dd) Section 9.01(j) of
the Credit Agreement is hereby amended by replacing the reference to “Guaranty and Pledge Agreement” with a reference to “Guaranty and Pledge Agreements”. 

(ee) Section 10.02(c) of the Credit Agreement is hereby amended by inserting the following words before the period at the end of the
paragraph “; which revised Amortization Schedule shall among other things be consistent with an updated Base Case Model that shows (i) an increase in the total principal amount of the Loans amortized under such updated Base Case Model
prior to the Maturity Date and (ii) (A) the balloon payment of the outstanding principal on the Maturity Date shown under the updated Base Case Model, expressed as a percentage of the aggregate Term Loans made pursuant to Sections 2.01 and
2.02 after giving effect to the borrowing, to be less than or equal to (B) the balloon payment of the outstanding principal on the Maturity Date shown under the case of the Closing Date Base Case Model showing the Projects projected to be owned
by Owner XVII and Owner XVIII as fully deployed and demonstrating the Term Loans as fully drawn, expressed as a percentage of aggregate Term Commitments on the Closing Date (for the avoidance of doubt, such percentage is equal to [***])”. 

3. LIBOR Amendment. The defined term for “LIBOR” in Section 1.01 of the Credit Agreement is hereby amended by replacing
each reference to “US0001M” with a reference to “US0003M”. 
 II. Consents and Agreements. At the request of
Borrower, and in accordance with the requirements under Section 13.01(b) of the Credit Agreement, subject to the satisfaction of the conditions set forth in Article III below, each Lender Party, each Secured Hedge Provider and the
Collateral Agent hereby consents and agrees as follows: 
 1. Restructuring Consent. Notwithstanding the restrictions set forth in
Section 8.03 and 8.16 of the Credit Agreement, each Lender Party, each Secured Hedge Provider and the Collateral Agent hereby consents and agrees to the Authorization, the Release, the Restructuring and the execution and delivery of the Wholly
Owned Holdco Guaranty and Pledge Agreement and the A&R Pledge and Security Agreement by each of the parties to each such agreement (collectively, the “Restructuring Consent”). 

2. Consent to Amending Certain Tax Equity Documents. Notwithstanding the restrictions set forth in Section 8.10 of the Credit
Agreement, each Lender Party hereby consents and agrees to the applicable Relevant Parties entering into the Tax Equity Documents Amendments (collectively, the “Tax Equity Documents Amendments Consent”). 

  
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 3. Consent to Execution and Delivery of the Inverted Lease Back-Up Servicing Agreement.
Each Lender Party hereby consents and agrees to the execution and delivery of the Inverted Lease Back-Up Servicing Agreement in the form attached hereto as Exhibit E as required to be delivered pursuant to Section 7.26(a) of the Credit
Agreement (the “Inverted Lease Back-Up Servicing Agreement Consent”, and together with the Restructuring Consent and the Tax Equity Documents Amendments Consent, the “Consents”). 

III. Conditions Precedent to Effectiveness. The amendments contained in Article I and the Consents shall not be effective unless
each of the following conditions precedent is satisfied in a form and substance reasonably satisfactory to the Administrative Agent (the date on which all such conditions have been satisfied being referred to herein as the “Second Amendment
Effective Date”): 
 1. Execution by the Loan Parties, the Administrative Agent, the Collateral Agent, the Issuing Bank, each
Lender and each Secured Hedge Provider of this Amendment; 
 2. the Administrative Agent’s receipt of: 

(a) a fully executed Contribution Agreement; 

(b) a fully executed Wholly Owned Holdco Guaranty and Pledge Agreement; 

(c) a fully executed A&R Pledge and Security Agreement; 

(d) (i) any corporate approval requested from Sponsor in connection with the matters addressed in this Amendment and (ii) an omnibus
resolution from all Loan Parties with regard to the matters addressed in this Amendment; 
 (e) a copy of the certificate of formation and
limited liability company agreement of Wholly Owned Holdco, together with an incumbency for the Wholly Owned Holdco and the amendments to the organizational documents of the Wholly Owned Opcos, certified by the secretary of such Persons as being
true, correct and complete copies of each such document (and includes all schedules, exhibits, attachments, supplements and amendments thereto and any related protocols or side letters); 

(f) a Delaware good standing certificate for Wholly Owned Holdco; 

(g) the UCC-1 financing statement to be filed in connection with the Wholly Owned Holdco Guaranty and Pledge Agreement together with lien
searches in respect of the Wholly Owned Holdco; 
 (h) opinions of counsel to the Loan Parties in relation to this Amendment, the Credit
Agreement (after giving effect to this Amendment), the A&R Pledge and Security Agreement, the Wholly Owned Holdco Guaranty and Pledge Agreement and the Contribution Agreement, addressed to the Administrative Agent and each Secured Party from
(A) Wilson Sonsini Goodrich & Rosati P.C., counsel for the Relevant Parties and (B) in-house counsel of the Sponsor; 

  
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 (i) an updated Base Case Model reflecting (A) the Tax Equity Documents Amendments [***]
(B) the Cash Available for Debt Service from Eligible Projects sold to Owner XVII or Owner XVIII in accordance with the applicable Master Purchase Agreement and each of which has been Placed in Service as of March 31, 2015, and which have
not previously been incorporated into the Base Case Model (the “Amendment Project Pool”) and (C) the interest rate protection obtained under the Interest Rate Hedging Agreements entered into in accordance with Section 7.11
of the Credit Agreement; 
 (j) the Cash Available for Debt Service included under the Base Case Model from the Amendment Project Pool does
not include cash flows from any Project that is not an Eligible Project and takes into account the impact on Operating Revenues and Operating Expenses from each waiver provided by a Tax Equity Member (including the Owner XVII Master Purchase
Agreement Amendment). Taking into account all Projects owned by Owner XVII, Owner XVIII and in respect of which the Cash Available for Debt Service is proposed to be included in the Base Case Model as of such date: (i) each of the fund
constraints set forth in the related Master Purchase Agreement has been satisfied, (ii) the minimum systems in service requirement set forth in such Master Purchase Agreement shall have been achieved, and (iii) each Project met the
“Qualifications of Projects” requirements at the time of sale pursuant to such Master Purchase Agreement or, such requirements referenced in clauses (i), (ii) and/or (iii) were waived or amended and a copy of any such waiver or
amendment has been provided to the Administrative Agent; 
 (k) each of the Projects in the Amendment Project Pool is an Eligible Project;

 (l) a copy of fully executed copies of all Project Documents (other than Customer Agreements entered into in relation to Eligible
Projects that were Placed In Service after March 17, 2015 and through March 31, 2015, collectively the “Deferred Customer Agreements”) and other Portfolio Documents entered into in connection with the Amendment Project
Pool together with the Project Information relating to each Eligible Project in the Amendment Project Pool, accompanied by an Officer’s Certificate certifying: (A) that each such copy provided to the Administrative Agent is a true, correct
and complete copy of such document (and includes all schedules, exhibits, attachments, supplements and amendments thereto and any related protocols or side letters), (B) each such Portfolio Document (i) has been duly executed and delivered
by the Sponsor and each Relevant Party party thereto and, to the Knowledge of Sponsor, Borrower and the Subsidiaries, the other parties thereto, (ii) is in full force and effect and is enforceable against the Sponsor and each Relevant Party
party thereto and, to the Knowledge of Sponsor, Borrower and the Subsidiaries, each other party thereto as of such date, (C) neither the Sponsor nor any Relevant Party party thereto nor, to the Knowledge of Sponsor, Borrower and each
Subsidiary, any other party to such document is or, but for the passage of time or giving of notice or both, will be in breach of any material obligation except, solely with respect to (i) Customer Agreements, where such breach (itself or when
coupled 

  
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with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect and (ii) Master Turnkey Installation Agreements, where such breach (itself or
when coupled with other breaches under such agreements) could not reasonably be expected to have a Material Adverse Effect, (D) no Portfolio Document has an event of force majeure existing thereunder except solely with respect to the Project
Documents, where such event of force majeure (itself or when coupled with other events of force majeure under such Project Documents) could not reasonably be expected to have a Material Adverse Effect, (E) all conditions precedent to the
effectiveness of such documents have been satisfied or waived in writing and (F) that the conditions specified in Sections III.2.(j) and (k) have been satisfied; 

(m) a copy of the purchase and sale confirmation delivered under the applicable Master Purchase Agreement in respect of the Projects in the
Amendment Project Pool, including any subsequent confirmations provided to Owner XVII, Owner XVIII or their applicable Tax Equity Members that the Projects in the Amendment Project Pool have been Placed in Service; and 

(n) the Borrower shall have paid (i) the fees, costs and expenses of Lender Parties and the Collateral Agent incurred in connection with
the execution and delivery of this Amendment [***] and (ii) the “initial acceptance fee” under the Inverted Lease Back-Up Servicing Agreement. 

IV. Representations and Warranties; Covenants. 

1. The Loan Parties represent and warrant to the Administrative Agent, Collateral Agent, each Lender Party and each Secured Hedge Provider:

 (a) Power and Authority; Authorization. Each of the Loan Parties has all requisite power and authority to execute, deliver and
perform its obligations under this Amendment and the Borrower has all requisite power and authority to perform its obligations under the Credit Agreement, as amended by this Agreement (as so amended, the Amended Credit Agreement”). Each of the
Loan Parties has duly authorized, executed and delivered this Amendment. 
 (b) Enforceability. Each of this Amendment and the
Amended Credit Agreement is a legal, valid and binding obligation of each of the Loan Parties, enforceable against any of the Loan Parties, as applicable, in accordance with its terms, except to the extent that enforceability may be limited by
(i) applicable bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting the enforcement of creditors’ rights, (ii) the effect of general equitable principles (regardless of whether such enforceability is
considered in a proceeding in equity or at law) or (iii) implied covenants of good faith and fair dealing. 
 2. The Borrower
represents and warrants to the Administrative Agent, Collateral Agent, each Lender Party and each Secured Hedge Provider: 
 (a) Credit
Agreement Representations and Warranties. Each of the representations and warranties set forth in the Credit Agreement and applicable to the Loan Parties is 

  
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true and correct both before and after giving effect to this Amendment, except to the extent that any such representation and warranty relates solely to any earlier date, in which case such
representation and warranty is true and correct as of such earlier date. 
 (b) Defaults. No event has occurred or is continuing as
of the date hereof, or will result from the transactions contemplated hereby on the date hereof, that would constitute an Event of Default or a Default after giving effect to the Consents. 

3. Immediately after the Contribution Transactions become effective, the Borrower shall deliver to Administrative Agent the membership
interest certificates and blank transfer powers for Wholly Owned Holdco and replacement membership interest certificates and blank transfer powers for each of the Wholly Owned Opcos. 

4. [***] 
 5. The Borrower shall
provide to the Administrative Agent fully executed copies of all Deferred Customer Agreements accompanied by an Officer’s Certificate in a form and substance reasonably acceptable to the Administrative Agent by no later than two weeks after the
date of this Amendment. 
 V. Limited Amendment and Acknowledgement. Except as expressly set forth herein or therein, none of this
Amendment, the A&R Pledge and Security Agreement, the Wholly Owned Holdco Guaranty and Pledge Agreement and the Contribution Agreement (collectively, the “Amendment Loan Documents”) by implication or otherwise limit, impair,
constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the other Secured Parties under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document, and each Loan Party acknowledges and agrees that each of the Loan Documents to which it is
a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment. Each and every
term, condition, obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect, as amended by this Amendment and the
A&R Pledge and Security Agreement. Each Loan Party reaffirms its obligations under the Loan Documents to which it is party and the validity of the Liens granted by it pursuant to the Collateral Documents. Each Guarantor hereby ratifies and
confirms its respective guarantee under the Guaranty and Pledge Agreement or Guaranty and Security Agreement, as applicable, and acknowledges and agrees that such guarantee applies by its terms to all Obligations under the Credit Agreement (as
amended by and provided in this Amendment and the other Amendment Loan Documents). From and after the effective date of this Agreement, all references to the Credit Agreement in any Loan Document shall, unless expressly provided otherwise, refer to
the Amended Credit Agreement and all 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-14-		

 
references to the Pledge and Security Agreement in any Loan Document shall, unless expressly provided otherwise, refer to the A&R Pledge and Security Agreement. For the avoidance of doubt, it
is acknowledged and agreed that the Amortization Schedule is not being updated in connection with this Amendment. 
 VI.
Miscellaneous. 
 1. Counterparts. This Amendment may be executed in one or more duplicate counterparts and by facsimile or other
electronic delivery and by different parties on different counterparts, each of which shall constitute an original, but all of which shall constitute a single document and when signed by all of the parties listed below shall constitute a single
binding document. 
 2. Severability. In case any one or more of the provisions contained in this Amendment should be invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, and the parties hereto shall enter into good faith negotiations to replace the
invalid, illegal or unenforceable provision. 
 3. Governing Law, etc.. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE
LAWS OF THE STATE OF NEW YORK. THE PROVISIONS IN SECTIONS 13.08(b) THROUGH (d) AND SECTION 13.09 of the Credit Agreement shall apply, mutatis mutandis, to this Amendment and the parties hereto. 

4. Loan Document. This Amendment and each Amendment Loan Document shall each be deemed to be a Loan Document for all purposes of the
Credit Agreement and each other Loan Document. 
 5. Headings. Paragraph headings have been inserted in this Amendment as a matter of
convenience for reference only and it is agreed that such paragraph headings are not a part of this Amendment and shall not be used in the interpretation of any provision of this Amendment. 

[Signature Pages Follow] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-15-		

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their duly
authorized officers as of the day and year first above written. 
  

			
	SUNRUN AURORA PORTFOLIO 2014-A, LLC,
	as Borrower
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	INVESTEC BANK PLC,
	as Administrative Agent
		
	By:		  

	Name:		
	Title:		
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	KEYBANK NATIONAL ASSOCIATION,
	as Issuing Bank
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

 
			
	ONEWEST BANK N.A.,
	as Collateral Agent
		
	 By:
		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

	
	

 
			
	INVESTEC BANK PLC,
	as Lender
		
	By:		  

	Name:		
	Title:		
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	KEYBANK NATIONAL ASSOCIATION,
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	ONEWEST BANK N.A.,
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	ROYAL BANK OF CANADA,
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	SUNTRUST BANK,
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

			
	SILICON VALLEY BANK,
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

 
			
	INVESTEC BANK PLC,
	as Secured Hedge Provider
		
	By:		  

			Name:
			Title:
		
	By:		  

			Name:
			Title:

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

	
	

 
			
	KEYBANK NATIONAL ASSOCIATION,
	as Secured Hedge Provider
		
	By:		  

			Name:
			Title:

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

	
	

 
			
	SUNTRUST BANK,
	as Secured Hedge Provider
		
	By:		  

			Name:
			Title:

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	ROYAL BANK OF CANADA,
	as Secured Hedge Provider
		
	By:		  

			Name:
			Title:

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	ACCEPTED AND AGREED
	Solely in respect of Article V, as of the date first above written:
	
	SUNRUN AURORA PORTFOLIO 2014-B, LLC,
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER I, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER II, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER III, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR TENANT I, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR TENANT II, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR TENANT III, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER HOLDCO VIII, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER HOLDCO XI, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER HOLDCO XII, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER HOLDCO XVII, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 
			
	SUNRUN SOLAR OWNER HOLDCO XVIII, LLC,
		
	By:		Sunrun Aurora Portfolio 2014-A, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential
treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

 CONSENT AND THIRD AMENDMENT TO CREDIT AGREEMENT 

This CONSENT AND THIRD AMENDMENT TO THE CREDIT AGREEMENT, dated as of May [    ], 2015 (this
“Amendment”), is entered into among the undersigned in connection with that certain Credit Agreement, dated as of December 31, 2014, by and among Sunrun Aurora Portfolio 2014-A, LLC, a Delaware limited liability company, as
Borrower, Investec Bank PLC, as Administrative Agent, KeyBank, N.A., as Issuing Bank, and the financial institutions party thereto as Lenders from time to time, as amended by that certain Waiver and First Amendment to the Credit Agreement, dated as
of March 25, 2015, by and among the Borrower, the Administrative Agent and the Lenders party thereto and as further amended by that certain Consent, Acknowledgement and Second Amendment to the Credit Agreement, dated as of April 28, 2015,
by and among the Loan Parties, the Lenders party thereto, the Administrative Agent, the Secured Hedge Providers, the Issuing Bank and the Collateral Agent (the “Credit Agreement”). Terms which are capitalized in this Amendment and
not otherwise defined shall have the meanings ascribed to such terms in the Credit Agreement. 
 W I T N E S S E T H 

WHEREAS, the Borrower wishes to make certain amendments to the Credit Agreement, and the Administrative Agent and the Lenders party hereto
wish to agree to make such amendments; and 
 WHEREAS, the Borrower also wishes to obtain consent from the Administrative Agent and the
Lenders party hereto in respect of: (i) an amendment to the Limited Liability Company Agreement of Owner XVIII in the form attached hereto as Exhibit A (the “Owner XVIII LLC Agreement Amendment”; (ii) an amendment
to the Owner XVIII Master Purchase Agreement in the form attached hereto as Exhibit B (the “Owner XVIII Master Purchase Agreement Amendment”); and (iii) an amendment to the [***] Class B Member Note in the form attached
hereto as Exhibit C (the “[***] Class B Member Note Amendment” and, together with the Owner XVIII LLC Agreement Amendment and the Owner XVIII Master Purchase Agreement Amendment, the “Tax Equity Documents
Amendments”). 
 NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 I. Amendment.
Subject to the satisfaction of the conditions set forth in Article III below, the following amendment is hereby accepted and agreed by the parties hereto: 

1. Section 8.01(c)(iii) of the Credit Agreement is hereby amended such that the text “June 30, 2015” is deleted and replaced
with “September 30, 2015”. 
 II. Consent and Agreement. At the request of Borrower, and in accordance with the requirements under
Section 13.01(b) of the Credit Agreement, subject to the satisfaction of the conditions set forth in Article III below, each Lender party hereto and the Administrative Agent, 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

 
notwithstanding the restrictions set forth in Section 8.10 of the Credit Agreement, hereby consents and agrees to the applicable Relevant Parties entering into the Tax Equity Documents
Amendments (collectively, the “Consent”). 
 III. Conditions Precedent to Effectiveness. The amendment contained in Article I
and the Consent shall not be effective unless each of the following conditions precedent is satisfied in a form and substance reasonably satisfactory to the Administrative Agent (the date on which all such conditions have been satisfied being
referred to herein as the “Third Amendment Effective Date”): 
 1. Execution by the Borrower, the Administrative Agent and
each Lender party hereto of this Amendment; and 
 2. Payment by the Borrower of the fees, costs and expenses of the Administrative Agent
and the Lenders party hereto incurred in connection with the execution and delivery of this Amendment [***] 
 IV. Representations and Warranties;
Covenants. 
 1. The Borrower represents and warrants to the Administrative Agent and each Lender party hereto: 

(a) Power and Authority; Authorization. The Borrower has all requisite power and authority to execute, deliver and perform its
obligations under this Amendment and the Borrower has all requisite power and authority to perform its obligations under the Credit Agreement, as amended by this Agreement (as so amended, the “Amended Credit Agreement”). The
Borrower has duly authorized, executed and delivered this Amendment. 
 (b) Enforceability. Each of this Amendment and the Amended
Credit Agreement is a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except to the extent that enforceability may be limited by (i) applicable bankruptcy, insolvency,
moratorium, reorganization or other similar laws affecting the enforcement of creditors’ rights, (ii) the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law)
or (iii) implied covenants of good faith and fair dealing. 
 (c) Credit Agreement Representations and Warranties. Each of the
representations and warranties set forth in the Credit Agreement and applicable to the Loan Parties is true and correct both before and after giving effect to this Amendment, except to the extent that any such representation and warranty relates
solely to any earlier date, in which case such representation and warranty is true and correct as of such earlier date. 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-2-		

 (d) Defaults. No event has occurred or is continuing as of the date hereof, or will result
from the transactions contemplated hereby on the date hereof, that would constitute an Event of Default or a Default after giving effect to the Consent. 

V. Limited Amendment and Acknowledgement. The amendment set forth in Article I of this Amendment shall be effective only in the
specific instances described herein and nothing herein shall be construed to limit or bar any rights or remedies of the Lenders. For the avoidance of doubt and without limiting the generality of the foregoing, the parties agree that no other change,
amendment or consent with respect to the terms and provisions of any of the Loan Documents is intended or contemplated hereby (which terms and provisions remain unchanged and in full force and effect other than as expressly set forth herein). From
and after the effective date of this Agreement, all references to the Credit Agreement in any Loan Document shall, unless expressly provided otherwise, refer to the Amended Credit Agreement. 

VI. Miscellaneous. 
 1.
Counterparts. This Amendment may be executed in one or more duplicate counterparts and by facsimile or other electronic delivery and by different parties on different counterparts, each of which shall constitute an original, but all of which
shall constitute a single document and when signed by all of the parties listed below shall constitute a single binding document. 
 2.
Severability. In case any one or more of the provisions contained in this Amendment should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby, and the parties hereto shall enter into good faith negotiations to replace the invalid, illegal or unenforceable provision. 

3. Governing Law, etc.. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK. THE PROVISIONS IN
SECTIONS 13.08(b) THROUGH (d) AND SECTION 13.09 of the Credit Agreement shall apply, mutatis mutandis, to this Amendment and the parties hereto. 

4. Loan Document. This Amendment shall be deemed to be a Loan Document for all purposes of the Credit Agreement and each other Loan
Document. 
 5. Headings. Paragraph headings have been inserted in this Amendment as a matter of convenience for reference only and
it is agreed that such paragraph headings are not a part of this Amendment and shall not be used in the interpretation of any provision of this Amendment. 

[Signature Pages Follow] 

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-3-		

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their duly authorized officers as of the day and year first above written. 
  

			
	SUNRUN AURORA PORTFOLIO 2014-A, LLC,
	as Borrower
		
	By:		Sunrun Aurora Portfolio 2014-B, LLC
	Its:		Sole Member
		
	By:		Sunrun Aurora Holdco 2014, LLC
	Its:		Sole Member
		
	By:		Sunrun Inc.
	Its:		Sole Member
		
	By:		  

	Name:		  

	Title:		  

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
					

 
			
	INVESTEC BANK PLC,
	as Administrative Agent
		
	By:		  

	Name:		
	Title:		
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-2-		

 
			
	[INVESTEC BANK PLC],
	as Lender
		
	By:		  

	Name:		
	Title:		
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-3-		

			
	[KEYBANK NATIONAL ASSOCIATION],
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-4-		

			
	[ONEWEST BANK N.A.],
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-5-		

			
	[ROYAL BANK OF CANADA],
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-6-		

 
			
	[SUNTRUST BANK],
	 as Lender

		
	 By:
		  

	 Name:
		
	 Title:
		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-7-		

			
	[SILICON VALLEY BANK],
	as Lender
		
	By:		  

	Name:		
	Title:		

  
 [***] Confidential treatment has
been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. 

  

					
			-8-

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