Document:

Document

Exhibit 10.1

AMENDMENT NO. 1

This AMENDMENT NO. 1 (this “Agreement”) dated as of August 3, 2020, is among USA COMPRESSION PARTNERS, LP, a Delaware limited partnership (the “Borrower”), each of the Guarantors and Lenders party hereto and JPMORGAN CHASE BANK, N.A., as an LC Issuer and as the Agent.
Recitals
A. WHEREAS, the Borrower, each of the guarantors from time to time party thereto (each, a “Guarantor” and, collectively, the “Guarantors”), each of the lenders from time to time party thereto (each, a “Lender” and, collectively, the “Lenders”) and JPMorgan Chase Bank, N.A., as the administrative agent (in such capacity, the “Agent”) and as an LC Issuer are parties to that certain Sixth Amended and Restated Credit Agreement dated as of April 2, 2018 (as in effect immediately prior to the execution hereof, the “Existing Credit Agreement”; and the Existing Credit Agreement, as amended, restated, amended and restated, supplemented or otherwise modified from time to time, including, without limitation, as amended by this Agreement, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the Borrower.
B. WHEREAS, the Borrower has requested that certain amendments and modifications be made to the Credit Agreement.
C. WHEREAS, subject to the terms and conditions of this Agreement, the Borrower, the Guarantors, the Lenders party hereto, which constitute at least the Required Lenders, and the Agent have agreed to enter into this Agreement in order to effectuate such amendments and modifications to the Credit Agreement, in each case as set forth herein.
D. NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, which include the Required Lenders, agree as follows:
Section 1.Defined Terms.  Each capitalized term which is defined in the Credit Agreement, but which is not defined in this Agreement, shall have the meaning ascribed such term in the Credit Agreement. 
Section 2.Amendments.  On the Amendment No. 1 Effective Date, the following amendments shall become effective.
2.1 Amendments to Section 1.1.
(a) Section 1.1 of the Existing Credit Agreement is hereby amended by inserting the following defined terms in appropriate alphabetical order:
“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.
“Amendment No. 1 Effective Date” means August 3, 2020.
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“Bankruptcy Event” means, with respect to any Person, such Person becomes the subject of a voluntary or involuntary bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment or has had any order for relief in such proceeding entered in respect thereof; provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such ownership interest results in or provides such Person 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 permits such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.
“BHC Act Affiliate” of a party means an ‘affiliate’ (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Covenant Relief Period” means the period beginning on the Amendment No. 1 Effective Date and ending on the last day of the Fiscal Quarter ending December 31, 2021.
“Covered Entity” means any of the following:
(a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);
(b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or
(c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“Covered Party” has the meaning given to such term in Section 17.3.
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“Electronic Signature” has the meaning given to such term in Article XIV.
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).
“QFC Credit Support” has the meaning given to such term in Section 17.3.
“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.
“Supported QFC” has the meaning given to such term in Section 17.3.
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“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.
“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
“U.S. Special Resolution Regimes” has the meaning given to such term in Section 17.3.
(b) The following terms defined in Section 1.1 of the Existing Credit Agreement are hereby amended and restated in their entirety to read as follows:
“Bail-In Legislation” means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom,  Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).
“Defaulting Lender” means any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Loan Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified the Borrower or any Loan Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by a Loan Party, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations as of the date of certification) to fund prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon 
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such Loan Party’s receipt of such certification in form and substance satisfactory to it and the Agent, or (d) has become the subject of (A) a Bankruptcy Event or (B) a Bail-In Action.
“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution  or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that Person or any other Person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
(c) The definition of “Bail-In Action” in Section 1.1 of the Existing Credit Agreement is hereby amended by removing the first occurrence of “EEA” therein and replacing the defined term “EEA Financial Institution” therein with “Affected Financial Institution”.
(d) The definition of “EEA Financial Institution” in Section 1.1 of the Existing Credit Agreement is hereby amended by replacing “institution” in clause (a) thereof with “credit institution or investment firm” and by adding “financial” immediately after “any” in clause (c) thereof. 
(e) The definition of “Eligible Accounts” in Section 1.1 of the Existing Credit Agreement is hereby amended by replacing the defined term “Borrower” in subsection (e) thereof with “Loan Parties”.
(f) The definition of “Eligible Inventory” in Section 1.1 of the Existing Credit Agreement is hereby amended by renumbering subsections (w) through (mm) as subsections (a) through (q).
(g) The definition of “Guarantor” in Section 1.1 of the Existing Credit Agreement is hereby amended as follows:
(i)Clause (vi) is re-lettered to (vii).
(ii)A new clause (vi) is added to read in its entirety as follows:
“(vi) with respect to the Obligations of Loan Parties and their Subsidiaries (but excluding Obligations of the Borrower) under Banking Services Obligations and Rate Management Obligations, the Borrower and”
2.2 Amendment to Article I. Article I is hereby amended by adding the following Section 1.6 at the end of such Article I:
1.6 Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event 
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under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Capital Stock at such time.
2.3 Amendments to Section 6.13(a). Section 6.13(a) of the Existing Credit Agreement is hereby amended as follows:
(a) Section 6.13(a)(iii)(C) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
(C) immediately prior to and after giving effect to such Restricted Payment, the  Borrower shall have excess Availability of at least $100,000,000; provided, that during the Covenant Relief Period, the Borrower shall have excess Availability of at least $250,000,000,
(b) Section 6.13(a)(vi)(C) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
(C) immediately prior to and after giving effect to such Restricted Payment, the  Borrower shall have excess Availability of at least $100,000,000; provided, that during the Covenant Relief Period, the Borrower shall have excess Availability of at least $250,000,000;
2.4 Amendment to Section 6.23(a)(iii)(C). Section 6.23(a)(iii)(C) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:  
(C) the Borrower shall have excess Availability of at least $100,000,000; provided, that during the Covenant Relief Period, the Borrower shall have excess Availability of at least $250,000,000.
2.5 Amendment to Section 6.25.2.  Section 6.25.2 of the Existing Credit Agreement is hereby amended and restated to read in its entirety as follows:
        6.25.2 Leverage Ratio. The Borrower will not permit the Leverage Ratio on a consolidated basis, determined as of the last day of each Fiscal Quarter to be greater than the ratio set forth in the table below for the corresponding Fiscal Quarter; provided that, beginning with the fiscal quarter ending September 30, 2021, if a Specified Acquisition occurs during any Fiscal Quarter, the Borrower may increase its applicable Leverage Ratio threshold set forth below by 0.50 for the Fiscal Quarter in which such Specified Acquisition occurs and the two (2) immediately succeeding Fiscal Quarters, but in no event shall the maximum Leverage Ratio exceed 5.50 to 1.0 for any Fiscal Quarter as a result of such increase.
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	Fiscal Quarter Ending		Leverage Ratio
	March 31, 2020		5.00 to 1.0
	June 30, 2020		5.00 to 1.0
	September 30, 2020		5.75 to 1.0
	December 31, 2020		5.75 to 1.0
	March 31, 2021		5.50 to 1.0
	June 30, 2021		5.50 to 1.0
	September 30, 2021		5.25 to 1.0
	December 31, 2021		5.25 to 1.0
	March 31, 2022, and each Fiscal Quarter thereafter		5.00 to 1.0

2.6 Amendment to Section 6.25.3. Section 6.25.3 of the Existing Credit Agreement is hereby amended by adding the following after the first instance of “EBITDA” appearing in such Section 6.25.3:
“, after giving effect to any annualization thereof,”
2.7 Amendment to Section 9.13. Section 9.13 of the Existing Credit Agreement is hereby amended and restated to read in its entirety as follows:
        9.13 Acknowledgment and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document may be subject to the Write-Down and Conversion Powers of a Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and
(b) the effects of any Bail-In Action on any such liability, including, if applicable:
(i) a reduction in full or in part or cancellation of any such liability;
(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or
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(iii) the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.
2.8 Amendment to Article X.  Article X is hereby amended by adding the following Section 10.19 at the end of such Article X:
10.19 Credit Bidding. The Secured Parties hereby irrevocably authorize the Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations (including by accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar laws in any other jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Agent (whether by judicial action or otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid by the Agent at the direction of the Required Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that shall vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) for the asset or assets so purchased (or for the Capital Stock or debt instruments of the acquisition vehicle or vehicles that are issued in connection with such purchase). In connection with any such bid, (i) the Agent shall be authorized to form one or more acquisition vehicles and to assign any successful credit bid to such acquisition vehicle or vehicles, (ii) each of the Secured Parties’ ratable interests in the Obligations which were credit bid shall be deemed without any further action under this Agreement to be assigned to such vehicle or vehicles for the purpose of closing such sale, (iii) the Agent shall be authorized to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Agent with respect to such acquisition vehicle or vehicles, including adopting documents providing for governance and any disposition of the assets or Capital Stock thereof, shall be governed, directly or indirectly, by, and the governing documents shall provide for, control by the vote of the Required Lenders or their permitted assignees under the terms of this Agreement or the governing documents of the applicable acquisition vehicle or vehicles, as the case may be, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in Sections 8.2 and 8.3 of this Agreement), (iv) the Agent on behalf of such acquisition vehicle or vehicles shall issue to each of the Secured Parties, ratably on account of the relevant Obligations which were credit bid, interests, whether as equity, partnership interests, limited partnership interests or membership interests, in any such acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the need for any Secured Party or acquisition vehicle to take any further action, and (v) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations 
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assigned to the acquisition vehicle exceeds the amount of Obligations credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Secured Parties pro rata with their original interest in such Obligations and the Capital Stock and/or debt instruments issued by any acquisition vehicle on account of such Obligations shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action. Notwithstanding that the ratable portion of the Obligations of each Secured Party are deemed assigned to the acquisition vehicle or vehicles as set forth in clause (ii) above, each Secured Party shall execute such documents and provide such information regarding the Secured Party (and/or any designee of the Secured Party which will receive interests in or debt instruments issued by such acquisition vehicle) as the Agent may reasonably request in connection with the formation of any acquisition vehicle, the formulation or submission of any credit bid or the consummation of the transactions contemplated by such credit bid.
2.9 Amendment to Article XIV.  Article XIV is hereby amended by replacing the first sentence thereof with the following:
This Agreement may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Agreement that is an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (an “Electronic Signature”) transmitted by telecopy, emailed pdf or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that, without limiting the foregoing, upon the request of the Agent, any electronic signature shall be promptly followed by such manually executed counterpart (in such number as may be reasonably requested by the Agent).
2.10 Amendment to Article XVII.  Article XVII is hereby amended by adding the following Section 17.3 at the end of such Article XVII:
17.3 Acknowledgement Regarding Any Supported QFCs.  To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Rate Management Transactions or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in 
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respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):
In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.
2.11 Additional Amendments to the Existing Credit Agreement.  The term “Equity Interest” (whether or not capitalized) is hereby replaced with the defined term “Capital Stock” wherever such term is used in (a) the definition of “Compression Acquisition”, (b) Section 4.1, (c) Section 6.17, (d) Section 6.18, and (e) Section 6.19, in each case of the Existing Credit Agreement.
2.12 Amendment to Schedule B. Schedule B of the Existing Credit Agreement is hereby amended and restated in its entirety as set forth in Exhibit A hereto.
Section 3. Conditions Precedent.  This Agreement shall become effective on the date (such date, the “Amendment No. 1 Effective Date”) when each of the following conditions is satisfied (or waived in accordance with Sections 8.2 and 8.3 of the Credit Agreement): 
3.1 The Agent shall have received from the Borrower, the Guarantors and Lenders constituting the Required Lenders counterparts of this Agreement signed on behalf of such Persons.
3.2 Both before and immediately after giving effect to this Agreement, no Default or Unmatured Default shall have occurred and be continuing.
3.3 The Agent shall have received (a) a consent fee payable to the Agent for the account of each Lender that executes and delivers a signed counterpart of this Agreement on or prior to 12:00 pm Houston time on July 31, 2020 (each such Lender, a “Consenting Lender”) in an amount equal to 0.20% of each such Consenting Lender’s pro rata share of the Existing Commitment (it being understood that such fee shall be funded on the Amendment No. 1 Effective Date by (i) a Borrowing 
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deemed made on the Amendment No. 1 Effective Date in the amount of such fee or (ii) a debit in the amount of such fee from Deposit Accounts of the Borrower maintained with the Agent) and (b) to the extent invoiced at least three (3) Business Days prior to August 3, 2020, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Credit Agreement.
Each party hereto hereby authorizes and directs the Agent to declare this Agreement to be effective (and the Amendment No. 1 Effective Date shall occur) when it has received documents confirming or certifying, to the reasonable satisfaction of the Agent, compliance with the conditions set forth in this Section 3. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes.
This Agreement shall terminate and the amendments and other agreements contemplated hereby shall be null and void if the Amendment No. 1 Effective Date has not occurred by August 4, 2020 because of the failure to satisfy the conditions set forth in this Section 3.
Section 4. Miscellaneous.
4.1 Confirmation.  The provisions of the Credit Agreement shall remain in full force and effect following the Amendment No. 1 Effective Date and nothing herein shall act as a waiver of any of the Agent’s or Lenders’ rights, powers or remedies under the Credit Agreement, as amended.
4.2 Ratification and Affirmation; Representations and Warranties. Each Loan Party hereby (i) acknowledges and agrees to the terms of this Agreement, (ii) represents and warrants to the Lenders that as of the Amendment No. 1 Effective Date, after giving effect to the terms of this Agreement: (a) all of the representations and warranties contained in each Loan Document are true and correct in all material respects (without duplication of materiality), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct in all material respects (without duplication of materiality) as of such specified earlier date and (b) no Default or Unmatured Default has occurred and is continuing and (iii) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document.  
4.3 Counterparts.  This Agreement may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Agreement that is an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (an “Electronic Signature”) transmitted by telecopy, emailed pdf or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that, without limiting the foregoing, upon the request of the Agent, any electronic signature shall be promptly followed by such manually executed counterpart (in such number as may be reasonably requested by the Agent).
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4.4 No Oral Agreement.  This Agreement, the Credit Agreement and the other Loan Documents executed in connection herewith and therewith 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 between the parties.
4.5 GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
4.6 Jurisdiction; Consent to Service of Process; Waiver of Jury Trial. The express terms of Sections 16.2, 16.3 and 16.4 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.
4.7 Payment of Expenses.  Subject to Section 9.5 of the Credit Agreement, the Borrower agrees to pay or reimburse the Agent for all of its reasonable and documented out-of-pocket expenses incurred in connection with this Agreement, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees, charges and disbursements of counsel to the Agent.
4.8 Severability.  Any provision of this Agreement or any other Loan Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof or thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.
4.9 Successors and Assigns.  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 by the Credit Agreement.
4.10 Loan Documents.  This Agreement is a Loan Document.
 [Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed effective as of the Amendment Effective Date.
BORROWER:

USA COMPRESSION PARTNERS, LP

By: USA Compression GP, LLC,
its General Partner

By: /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer

GUARANTORS:

USAC OPCO 2, LLC

By: /s/ Eric D. Long 
Name: Eric D. Long
Title:   President and Chief Executive Officer

USAC LEASING 2, LLC

By: /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer

USA COMPRESSION PARTNERS, LLC

By: /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer

         

Amendment No. 1
Signature Page

         

USAC LEASING, LLC

By: /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer

USA COMPRESSION FINANCE CORP.

By:  /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer

CDM RESOURCE MANAGEMENT LLC
        

By:  /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer
        
        
CDM ENVIRONMENTAL & TECHNICAL SERVICES LLC
        

By:  /s/ Eric D. Long 
Name: Eric D. Long
Title: President and Chief Executive Officer

Amendment No. 1
Signature Page

         

LENDERS:

JPMORGAN CHASE BANK, N.A.,
as Agent, Lender, LC Issuer and Swingline Lender

By: /s/ Anca Loghin 
Name: Anca Loghin
Title: Authorized Officer

Amendment No. 1
Signature Page

         

BARCLAYS BANK PLC, 
as a Lender

By: /s/ Sydney G. Dennis 
Name: Sydney G. Dennis
Title: Director  

Amendment No. 1
Signature Page

REGIONS BANK, 
as a Lender

By: /s/ Dennis M. Hansen 
Name: Dennis M. Hansen
Title: Managing Director  

         

Amendment No. 1
Signature Page

ROYAL BANK OF CANADA, 
as a Lender

By: /s/ Jay T. Sartain 
Name: Jay T. Sartain
Title: Authorized Signatory  

Amendment No. 1
Signature Page

WELLS FARGO BANK, N.A.
as a Lender

        By: /s/ Michael G. Janak   
        Name: Michael G. Janak
        Title: Director
Amendment No. 1
Signature Page

MUFG UNION BANK, N.A.,
        as a Lender

        By: /s/ Adrian Avalos   
        Name: Adrian Avalos
        Title: Director
        
Amendment No. 1
Signature Page

TRUST BANK, SUCCESSOR BY MERGER  TO SUNTRUST BANK, 
         as a Lender

        By: /s/ Brian O’Fallon   
         Name: Brian O’Fallon
         Title: Director
Amendment No. 1
Signature Page

THE BANK OF NOVA SCOTIA, HOUSTON  BRANCH,
        as a Lender

        By: /s/ Scott Nickel   
        Name: Scott Nickel
        Title: Director

Amendment No. 1
Signature Page

         

PNC Bank, National Association,
        as a Lender

        By: /s/ Brad Miller   
        Name: Brad Miller
        Title: Vice President

Amendment No. 1
Signature Page

BMO Harris Bank, N.A.
        as a Lender

        By: /s/ Mike Ehlert   
        Name: Mike Ehlert
        Title: Managing Director
Amendment No. 1
Signature Page

CATERPILLAR FINANCIAL SERVICES CORPORATION
        as a Lender

        By: /s/ Landon Gracey   
        Name: Landon Gracey
        Title: Global Credit & Operations Manager
Amendment No. 1
Signature Page

Fifth Third Bank, National Association
        as a Lender

By: /s/ William Kane   
Name: William Kane
Title: Vice President
Amendment No. 1
Signature Page

NATIXIS, NEW YORK BRANCH, 
as a Lender

By:  /s/ Ben Halperin    
Name: Ben Halperin
Title: Managing Director

By: /s/ Alejandro Campos    
Name: Alejandro Campos
Title: Director
Amendment No. 1
Signature Page

NYCB SPECIALTY FINANCE COMPANY, LLC, a wholly owned subsidiary of New York Community Bank, as Lender
        

        By: /s/ William D. Dickerson, Jr.   
        Name: William D. Dickerson, Jr.
        Title: Senior Vice President
Amendment No. 1
Signature Page

             Sumitomo Mitsui Banking Corporation,
        as a Lender

        By: /s/ Kenji Irie   
        Name: Kenji Irie
        Title: Managing Director
Amendment No. 1
Signature Page

CIT Bank, N.A.,
        as a Lender

        By: /s/ Marc Theisinger   
        Name: Marc Theisinger
        Title: Managing Director
Amendment No. 1
Signature Page

CITIZENS BANK, N.A.,
        as a Lender

        By: /s/ Kelly Graham   
        Name: Kelly Graham
        Title: Vice President 
        
Amendment No. 1
Signature Page

THE PRUDENTIAL INSURANCE COMPANY 
OF AMERICA, as a Lender

        By: /s/ Jennifer L. Riffle   
        Name: Jennifer L. Riffle
        Title: Vice President 

PRUDENTIAL LEGACY INSURANCE COMPANY OF NEW JERSEY, as a Lender

        By;  PGIM, INC., 
         as investment manager

        By: /s/ Jennifer L. Riffle   
        Name: Jennifer L. Riffle
        Title: Vice President 
Amendment No. 1
Signature Page

Siemens Financial Services, Inc.,
        as a Lender

        By: /s/ Maria Levy   
        Name: Maria Levy
        Title: Vice President 

        By: /s/ WD Jentsch  
        Name: WD Jentsch
        Title: Vice President
Amendment No. 1
Signature Page

Raymond James Bank, NA,
        as a Lender

        By: /s/ John Harris   
        Name: John Harris
        Title: Managing Director 
Amendment No. 1
Signature Page

Webster Business Credit Corp.,
        as a Lender

        By: /s/ Julian Vigder   
        Name: Julian Vigder
        Title: Vice President 
Amendment No. 1
Signature Page

Sterling National Bank, as successor in interest to Woodforest National Bank, 
        as a Lender

        By: /s/ Greg Gentry   
        Name: Greg Gentry
        Title: Senior Managing Director 

Amendment No. 1
Signature Page

EXHIBIT A

SCHEDULE B
PRICING SCHEDULE
									
	Leverage Ratio
(annualized trailing three months)
	Applicable Margin	
		Revolver
Eurodollar
Margin
	Revolver
ABR
Margin

	> 5.00 to 1.00	2.75%	1.75%
	≤ 5.00 to 1.00 but > 4.00 to 1.00	2.50%	1.50%
	≤ 4.00 to 1.00 but > 3.00 to 1.00	2.25%	1.25%
	≤ 3.00 to 1.00	2.00%	1.00%

Notwithstanding the foregoing, during the Covenant Relief Period the following table shall apply:
									
	Leverage Ratio
(annualized trailing three months)
	Applicable Margin	
		Revolver
Eurodollar
Margin
	Revolver
ABR
Margin

	> 5.00 to 1.00	3.00%	2.00%
	≤ 5.00 to 1.00 but > 4.00 to 1.00	2.75%	1.75%
	≤ 4.00 to 1.00 but > 3.00 to 1.00	2.50%	1.50%
	≤ 3.00 to 1.00	2.25%	1.25%

“Financials” means the annual or quarterly financial statements of the Borrower delivered pursuant to Section 6.1 of this Agreement.
The applicable margins shall be determined in accordance with the foregoing table based on the Borrower’s most recent Financials commencing with the Financials for the period ending December 31, 2017. Adjustments, if any, to the applicable margins shall be effective five (5) Business Days after the Agent has received the applicable Financials. If the Borrower fails to deliver the Financials to the Agent at the time required pursuant to this Credit Agreement, then the applicable margins shall be the highest applicable margins set forth in the foregoing table until five (5) days after such Financials are so delivered. Without limitation of any other provision of this Agreement or any other remedy available to Agent or Lenders hereunder, to the extent that any financial statements or any information contained in any Compliance Certificate delivered hereunder shall be incorrect in any manner and the Borrower shall deliver to the Agent or the Lenders corrected financial statements or other corrected information in a Compliance Certificate (or otherwise), the Agent may recalculate the Applicable Margin based upon such corrected financial statements or such other corrected information and, upon written notice thereof to the Borrower, the Loans shall bear interest based upon such recalculated Applicable Margin retroactively from the date of delivery of the erroneous financial statements or other erroneous information in question; it being understood that the Borrower shall promptly pay any additional interest that would have been due but for such incorrect information, and such payment shall result in any Default or Unmatured Default that would have occurred as a result of a failure to pay such interest to be automatically waived without any further action by the Agent or any Lender.EX-10.1

Table of Contents

 Exhibit 10.1 

BROOKFIELD ASSET MANAGEMENT INC. 

- and - 
 BROOKFIELD
RENEWABLE CORPORATION 
 - and – 

BROOKFIELD RENEWABLE PARTNERS L.P. 
  

 
 REGISTRATION RIGHTS AGREEMENT

  
  

July 30, 2020 

Table of Contents

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 INTERPRETATION
	  	 	1	 
		
	 1.1  Definitions
	  	 	1	 
		
	 1.2  Headings and Table of Contents
	  	 	5	 
		
	 1.3  Interpretation
	  	 	5	 
		
	 1.4  Invalidity of Provisions
	  	 	6	 
		
	 1.5  Entire Agreement
	  	 	6	 
		
	 1.6  Waiver, Amendment
	  	 	7	 
		
	 1.7  Governing Law
	  	 	7	 
		
	 ARTICLE 2 REGISTRATION RIGHTS
	  	 	7	 
		
	 2.1  Demand Registration
	  	 	7	 
		
	 2.2  Piggyback Registrations
	  	 	10	 
		
	 2.3  Short-Form Filings
	  	 	12	 
		
	 2.4  Registration Procedures
	  	 	12	 
		
	 2.5  Suspension of Dispositions
	  	 	17	 
		
	 2.6  Registration Expenses
	  	 	17	 
		
	 2.7  Indemnification
	  	 	18	 
		
	 2.8  Transfer of Registration
Rights
	  	 	21	 
		
	 2.9  Current Public Information
	  	 	21	 
		
	 2.10 Preservation of Rights
	  	 	22	 
		
	 2.11 Obligations of BEP
	  	 	22	 
		
	 ARTICLE 3 TERMINATION
	  	 	22	 
		
	 3.1  Termination
	  	 	22	 
		
	 ARTICLE 4 MISCELLANEOUS
	  	 	23	 
		
	 4.1  Enurement
	  	 	23	 
		
	 4.2  Notices
	  	 	23	 
		
	 4.3  Authority
	  	 	24	 
		
	 4.4  Further Assurances
	  	 	24	 
		
	 4.5  Counterparts
	  	 	24	 

  
 - i - 

Table of Contents

 REGISTRATION RIGHTS AGREEMENT 

THIS AGREEMENT made as of the 30 day of July, 2020 

B E T W E E N: 

BROOKFIELD ASSET MANAGEMENT INC. (“Brookfield”) 

- and - 

BROOKFIELD RENEWABLE CORPORATION (“BEPC”) 

- and - 

BROOKFIELD RENEWABLE PARTNERS L.P. (“BEP”) 

RECITALS: 

WHEREAS, BEPC desires to provide the Holders (as defined herein) with the registration rights specified in this
Agreement with respect to Registrable Shares (as defined herein) on the terms and subject to the conditions set forth herein. 

NOW THEREFORE in consideration of the premises, mutual covenants and agreements contained in this Agreement and other
good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties covenant and agree, each with the other, as follows: 

ARTICLE 1 

INTERPRETATION 
  

	1.1	 Definitions 

The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary, applied to the terms
used in this Agreement. 
 1.1.1    “Adverse Effect” has the meaning assigned to such
term in Section 2.1.5; 
 1.1.2    “Advice” has the meaning assigned to such term
in Section 2.5; 
 1.1.3    “Affiliate” means, with respect to a Person, any other
Person that, directly or indirectly, through one or more intermediaries, Controls or is Controlled by such Person, or is under common Control of a third Person; 

1.1.4    “Agreement” means this Registration Rights Agreement; 

Table of Contents

 1.1.5    “BEP” has the meaning assigned
to such term in the preamble; 
 1.1.6    “BEPC” has the meaning assigned to such term
in the preamble; 
 1.1.7    “Brookfield” has the meaning assigned to such term in the
preamble; 
 1.1.8    “Business Day” means every day except a Saturday or Sunday, or a
day which is a statutory or civic holiday in the Province of Ontario or the State of New York; 

1.1.9    “Canadian Commissions” means the securities commissions or other
securities regulatory authorities in each of the provinces and territories of Canada and any successor regulatory authorities having similar powers and, to the extent applicable, in any such province or territory, a federal securities commission or
similar regulatory authority; 
 1.1.10    “Canadian Securities Laws” means,
collectively, the applicable securities legislation, regulations, rules, policies, blanket rulings, decisions and orders of each of the provinces and territories of Canada and the Canadian Commissions; 

1.1.11    “Control” means the control by one Person of another Person in accordance with
the following: a Person (“A”) controls another Person (“B”) where A has the power to determine the management and policies of B by contract or status (for example, the status of A being the general partner of B) or
by virtue of the beneficial ownership of or control over a majority of the voting interests in B; and, for greater certainty and without limitation, if A owns or has control over shares or other securities to which are attached more than 50% of the
votes permitted to be cast in the election of directors to the Governing Body of B, or A is the general partner of B, a limited partnership, then in each case A Controls B for this purpose; and the term “Controlled” has the
corresponding meaning; 
 1.1.12    “Demand Registration” has the meaning assigned to
such term in Section 2.1.1(a); 
 1.1.13    “Demand Request” has the meaning
assigned to such term in Section 2.1.1(a); 
 1.1.14    “Demanding Shareholders”
has the meaning assigned to such term in Section 2.1.1(a); 

1.1.15    “Effective” means, in the case of a Registration Statement, a declaration by
the SEC that such registration statement is effective, and in the case of a Prospectus, the issuance by the applicable Canadian Commission of a receipt for the final prospectus; 

1.1.16    “Effective Date” means the date a Registration Statement or Prospectus becomes
Effective; 

  
 2 

Table of Contents

 1.1.17    “Excluded Registration” means
a registration of (i) securities pursuant to one or more Demand Registrations pursuant to Section 2.1 hereof, (ii) securities registered under the U.S. Securities Act on Form S-8,
(iii) securities registered to effect the acquisition of, or combination with, another Person and (iv) securities pursuant to an exchange offer or any employee benefit or dividend reinvestment plan; 

1.1.18    “FINRA” means Financial Industry Regulatory Authority, Inc.; 

1.1.19    “Governing Body” means (i) with respect to a corporation or limited
company, the board of directors of such corporation or limited company, (ii) with respect to a limited liability company, the manager(s), director(s) or managing partner(s) of such limited liability company, (iii) with respect to a
partnership, the board, committee or other body of each general partner or managing partner of such partnership that serves a similar function (or if any such general partner or managing partner is itself a partnership, the board, committee or other
body of such general or managing partner’s general or managing partner that serves a similar function), and (iv) with respect to any other Person, the body of such Person that serves a similar function, and in the case of each of
(i) through (iv) includes any committee or other subdivision of such body and any Person to whom such body has delegated any power or authority, including any officer or managing director; 

1.1.20    “Holder” means (i) Brookfield, (ii) any subsidiary of Brookfield holding
Registrable Shares, and (iii) any direct or indirect transferee of Brookfield or any of its subsidiaries who shall become a party to this Agreement in accordance with Section 2.8 and has agreed in writing to be bound by the terms of this
Agreement, provided that “Holder” shall not include BEPC and its subsidiaries; 

1.1.21    “Inspectors” has the meaning assigned to such term in Section 2.4(m); 

1.1.22    “Person” means any natural person, partnership, limited partnership, limited
liability partnership, joint venture, syndicate, sole proprietorship, company or corporation (with or without share capital), limited liability company, unlimited liability company, joint stock company, unincorporated association, trust, trustee,
executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency, authority or entity however designated or constituted and pronouns have a similarly extended meaning; 

1.1.23    “Piggyback Registration” has the meaning assigned to such term in
Section 2.2.1; 
 1.1.24    “POP Issuer” means an issuer eligible to use the POP
System or equivalent system established from time to time by the Canadian Commissions; 

1.1.25    “POP System” means the prompt offering prospectus qualification system under
National Instrument 44-101 of the Canadian Securities Administrators entitled “Short Form Prospectus Distributions”; 

  
 3 

Table of Contents

 1.1.26    “Prospectus” means a
prospectus (including a Shelf Prospectus), including any amendment or supplement thereto, prepared in accordance with applicable Canadian Securities Laws for the purpose of qualifying securities for distribution to the public in any province or
territory of Canada; 
 1.1.27    “Records” has the meaning assigned to such term in
Section 2.4(m); 
 1.1.28    “register,” “registered” and
“registration” refers to (i) a registration effected by preparing and filing a registration statement in compliance with the U.S. Securities Act, and the declaration or ordering of the effectiveness of such registration
statement, and (ii) a qualification for distribution under Canadian Securities Laws effected by preparing and filing a Prospectus; 

1.1.29    “Registrable Shares” means the Shares owned by Holders from time to time,
including Shares issuable to Holders on the conversion of securities convertible, exchangeable or exercisable into Shares owned by a Holder, together with any securities owned by Holders issued with respect to such Shares by way of dividend or split
or in connection with a combination of shares, recapitalization, merger, consolidation, amalgamation, arrangement or other reorganization; provided, however, that Shares that, pursuant to Section 3.1, no longer have registration rights
hereunder shall not be considered Registrable Shares; 
 1.1.30    “Registration
Statement” means a registration statement under the U.S. Securities Act (which includes any preliminary prospectus, prospectus, prospectus supplement or free writing prospectus used in connection therewith); 

1.1.31    “Requesting Holders” shall mean any Holder(s) requesting to have its (their)
Registrable Shares included in any Demand Registration or Shelf Registration; 

1.1.32    “Required Filing Date” has the meaning assigned to such term in
Section 2.1.1(b); 
 1.1.33    “SEC” means the U.S. Securities and Exchange
Commission or any other federal agency at the time administering the U.S. Securities Act; 

1.1.34    “Securities Laws” means Canadian Securities Laws and/or U.S. Securities Laws,
as applicable; 
 1.1.35    “Seller Affiliates” has the meaning assigned to such term
in Section 2.7.1; 
 1.1.36    “Shares” means class A subordinate voting shares of
BEPC; 
 1.1.37    “Shelf Prospectus” means a shelf prospectus of BEPC filed with the
Canadian Commissions under Canadian Securities Laws for offers and secondary sales of Registrable Shares on a continuous basis; 

  
 4 

Table of Contents

 1.1.38    “Shelf Registration” means a
registration of the Registrable Shares under a registration statement pursuant to Rule 415 under the U.S. Securities Act; 

1.1.39    “Suspension Notice” has the meaning assigned to such term in Section 2.5;

 1.1.40     “U.S. Exchange Act” means the United States Securities Exchange
Act of 1934, as amended, or any similar federal statute, and the rules and regulations promulgated by the SEC thereunder; 

1.1.41    “U.S. Securities Act” means the United States Securities Act of 1933, as
amended, or any similar federal statute and the rules and regulations promulgated by the SEC thereunder; and 

1.1.42    “U.S. Securities Laws” means, collectively, the securities laws of the United
States, including the U.S. Exchange Act, the U.S. Securities Act, state securities or “blue sky” laws within the United States, and all rules, regulations and ordinances promulgated thereunder. 

 

	1.2	 Headings and Table of Contents 

The inclusion of headings and a table of contents in this Agreement are for convenience of reference only and will not affect
the construction or interpretation hereof. 
  

	1.3	 Interpretation 

In this Agreement, unless the context otherwise requires: 

1.3.1    words importing the singular shall include the plural and vice versa, words importing gender
shall include all genders or the neuter, and words importing the neuter shall include all genders; 

1.3.2    the words “include”, “includes”, “including”, or any variations
thereof, when following any general term or statement, are not to be construed as limiting the general term or statement to the specific items or matters set forth or to similar items or matters, but rather as referring to all other items or matters
that could reasonably fall within the broadest possible scope of the general term or statement; 

1.3.3    references to any Person include such Person’s successors and permitted assigns; 

1.3.4    except as otherwise provided in this Agreement, any reference in this Agreement to a statute,
regulation, policy, rule or instrument shall include, and shall be deemed to be a reference also to, all rules and regulations made under such statute, in the case of a statute, all amendments made to such statute, regulation, policy, rule or
instrument and to any statute, regulation, policy, rule or instrument 

  
 5 

Table of Contents

 
that may be passed which has the effect of supplementing or superseding the statute, regulation, policy, rule or instrument so referred to; 

1.3.5    any reference to this Agreement or any other agreement, document or instrument shall be construed
as a reference to this Agreement or, as the case may be, such other agreement, document or instrument as the same may have been, or may from time to time be, amended, varied, replaced, amended and restated, supplemented or otherwise modified; 

1.3.6    in the event that any day on which any amount is to be determined or any action is required to be
taken hereunder is not a Business Day, then such amount shall be determined or such action shall be required to be taken at or before the requisite time on the next succeeding day that is a Business Day; and 

1.3.7    except where otherwise expressly provided, all amounts in this Agreement are stated and shall be
paid in U.S. currency. 
  

	1.4	 Invalidity of Provisions 

Each of the provisions contained in this Agreement is distinct and severable and a declaration of invalidity or
unenforceability of any such provision or part thereof by a court of competent jurisdiction will not affect the validity or enforceability of any other provision hereof. To the extent permitted by applicable law, the parties waive any provision of
law which renders any provision of this Agreement invalid or unenforceable in any respect. The parties will engage in good faith negotiations to replace any provision which is declared invalid or unenforceable with a valid and enforceable provision,
the economic effect of which comes as close as possible to that of the invalid or unenforceable provision which it replaces. 
  

	1.5	 Entire Agreement 

This Agreement constitutes the entire agreement between the parties pertaining to the subject matter of this Agreement. There
are no warranties, conditions, or representations (including any that may be implied by statute) and there are no agreements in connection with such subject matter except as specifically set forth or referred to in this Agreement. No reliance is
placed on any warranty, representation, opinion, advice or assertion of fact made either prior to, contemporaneous with, or after entering into this Agreement, or any amendment or supplement hereto, by any party to this Agreement or its directors,
officers, employees or agents, to any other party to this Agreement or its directors, officers, employees or agents, except to the extent that the same has been reduced to writing and included as a term of this Agreement, and none of the parties to
this Agreement has been induced to enter into this Agreement or any amendment or supplement by reason of any such warranty, representation, opinion, advice or assertion of fact. Accordingly, there will be no liability, either in tort or in contract,
assessed in relation to any such warranty, representation, opinion, advice or assertion of fact, except to the extent contemplated above. 

  
 6 

Table of Contents

	1.6	 Waiver, Amendment 

Except as expressly provided in this Agreement, no waiver of this Agreement will be binding unless executed in writing by the
party to be bound thereby. No waiver of any provision of this Agreement will constitute a waiver of any other provision nor will any waiver of any provision of this Agreement constitute a continuing waiver unless otherwise expressly provided. A
party’s failure or delay in exercising any right under this Agreement will not operate as a waiver of that right. A single or partial exercise of any right will not preclude a party from any other or further exercise of that right or the
exercise of any other right. This Agreement may not be amended or modified in any respect except by a written agreement signed by BEPC, BEP and Brookfield (so long as Brookfield owns any Shares) and the Holders of a majority of the then outstanding
Registrable Shares. 
  

	1.7	 Governing Law 

This Agreement will be governed by and interpreted and enforced in accordance with the laws of the Province of Ontario and the
federal laws of Canada applicable therein. Each party irrevocably attorns and submits to the non-exclusive jurisdiction of the Ontario courts situated in the City of Toronto and waives objection to the venue
of any proceeding in such court or any argument that such court provides an inconvenient forum. 
 ARTICLE 2

 REGISTRATION RIGHTS 
  

	2.1	 Demand Registration 

2.1.1    Request for Registration 

 

	 	(a)	 Commencing on the date hereof, any Holder shall have the right to require BEPC to file a Registration
Statement and/or a Prospectus for a public offering of all or part of its Registrable Shares (a “Demand Registration”), by delivering to BEPC written notice stating that such right is being exercised, naming the Holders whose
Registrable Shares are to be included in such registration (collectively, the “Demanding Shareholders”), specifying the number of each such Demanding Shareholder’s Registrable Shares to be included in such registration and,
subject to Section 2.1.3 hereof, describing the intended method of distribution thereof (a “Demand Request”). 

  

	 	(b)	 Each Demand Request shall specify the aggregate number of Registrable Shares proposed to be sold. Subject to
Section 2.1.6, BEPC shall file a Registration Statement and/or Prospectus in respect of a Demand Registration as soon as practicable and, in any event, within forty-five (45) days after receiving a Demand Request (the “Required
Filing Date”) and 

  
 7 

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shall use reasonable best efforts to cause the same to be declared Effective as promptly as practicable after such filing; provided, however, that: 

 

	 	(i)	 BEPC shall not be obligated to file a Registration Statement or a Prospectus in respect of a Demand
Registration pursuant to Section 2.1.1(a) within sixty (60) days after the Effective Date of a previous Demand Registration, other than a Shelf Registration pursuant to this Article 2; and 

 

	 	(ii)	 BEPC shall not be obligated to file a Registration Statement or a Prospectus in respect of a Demand
Registration pursuant to Section 2.1.1(a) unless the Demand Request is for (A) a number of Registrable Shares with a market value that is equal to at least $50,000,000 as of the date of such Demand Request, or (B) all of the
Registrable Shares then held by the Demanding Shareholder. 

 2.1.2    Shelf
Registration. With respect to any Demand Registration, the Requesting Holders may request BEPC to file a Shelf Prospectus or effect a Shelf Registration, provided that BEPC is permitted to do so under Canadian Securities Laws and/or U.S.
Securities Laws, as applicable. 
 2.1.3    Selection of Underwriters. At the request of a
Requesting Holder, the offering of Registrable Shares pursuant to a Demand Registration shall be in the form of a “firm commitment” underwritten offering. The Requesting Holder shall select the investment banking firm or firms to manage
the underwritten offering; provided that such selection shall be subject to the consent of BEPC, which consent shall not be unreasonably withheld or delayed. No Holder may participate in any registration pursuant to Section 2.1.1 unless such
Holder (a) agrees to sell such Holder’s Registrable Shares on the basis provided in any underwriting arrangements described above and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such underwriting arrangements; provided, however, that no such Holder shall be required to make any representations or warranties in connection with any such registration other
than representations and warranties as to (i) such Holder’s ownership of Registrable Shares to be transferred free and clear of all liens, claims, and encumbrances, (ii) such Holder’s power and authority to effect such transfer,
and (iii) such matters pertaining to compliance with Securities Laws as may be reasonably requested; provided, further, however, that the obligation of such Holder to indemnify pursuant to any such underwriting arrangements shall be several,
not joint and several, among such Holders selling Registrable Shares, and the liability of each such Holder will be in proportion thereto, and provided, further, that such liability will be limited to the net amount received by such Holder from the
sale of its Registrable Shares pursuant to such registration. 
 2.1.4    Rights of Non-Requesting Holders. Upon receipt of any Demand Request, BEPC shall promptly (but in any event within ten (10) days) give written notice of 

  
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such proposed Demand Registration to all other Holders, who shall have the right, exercisable by written notice to BEPC within twenty (20) days of their receipt of BEPC’s notice, to
elect to include in such Demand Registration such portion of their Registrable Shares as they may request. All Holders requesting to have their Registrable Shares included in a Demand Registration in accordance with the preceding sentence and all
Demanding Shareholders shall be deemed to be “Requesting Holders” for purposes of this Section 2.1. BEPC shall also have the right to issue and sell Shares in such Demand Registration, subject to Section 2.1.5. 

2.1.5    Priority on Demand Registrations. No securities to be sold for the account of any Person
(including BEPC) other than a Requesting Holder shall be included in a Demand Registration unless the managing underwriter or underwriters shall advise the Requesting Holders in writing that the inclusion of such securities will not adversely affect
the price, timing or distribution of the offering or otherwise adversely affect its success (an “Adverse Effect”). Furthermore, if the managing underwriter or underwriters shall advise the Requesting Holders that, even after
exclusion of all securities of other Persons (including BEPC) pursuant to the immediately preceding sentence, the amount of Registrable Shares proposed to be included in such Demand Registration by Requesting Holders is sufficiently large to cause
an Adverse Effect, the Registrable Shares of the Requesting Holders to be included in such Demand Registration shall equal the number of Registrable Shares which the Requesting Holders are so advised can be sold in such offering without an Adverse
Effect and such Registrable Shares shall be allocated pro rata among the Requesting Holders on the basis of the number of Registrable Shares requested to be included in such registration by each such Requesting Holder. 

2.1.6    Deferral of Filing. BEPC may defer the filing (but not the preparation) of a Registration
Statement or Prospectus, as applicable, required by Section 2.1 until a date not later than ninety (90) days after the Required Filing Date if (a) at the time BEPC receives the Demand Request, BEPC is engaged in confidential
negotiations or other confidential activities, disclosure of which would be required in such Registration Statement or Prospectus, as applicable (but would not be required if such Registration Statement or Prospectus, as applicable, were not filed),
and the Board of Directors of BEPC determines in good faith that such disclosure would be materially detrimental to BEPC and its shareholders, (b) prior to receiving the Demand Request, BEPC had determined to effect a registered underwritten
public offering of BEPC’s securities for BEPC’s account and BEPC has taken substantial steps (including, but not limited to, selecting a managing underwriter for such offering) and is proceeding with reasonable diligence to effect such
offering, or (c) at the time BEPC receives the Demand Request, BEPC is currently engaged in a self-tender or exchange offer and the filing of a Registration Statement or Prospectus, as applicable, would cause a violation of applicable
Securities Laws. A deferral of the filing of a Registration Statement or Prospectus, as applicable, pursuant to this Section 2.1.6 shall be lifted, and the requested Registration Statement or Prospectus, as applicable, shall be filed forthwith,
if, in the case of a deferral pursuant to clause (a) of the preceding sentence, the negotiations or other activities are disclosed, otherwise become publicly known, or are terminated, or, in 

  
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the case of a deferral pursuant to clause (b) of the preceding sentence, the proposed registration for BEPC’s account is abandoned. In order to defer the filing of a Registration
Statement or Prospectus, as applicable, pursuant to this Section 2.1.6, BEPC shall promptly (but in any event within ten (10) days), upon determining to seek such deferral, deliver to the Requesting Holders a certificate signed by an
officer of BEPC or the Board of Directors of BEPC stating that BEPC is deferring such filing pursuant to this Section 2.1.6 and a general statement of the reason for such deferral and an approximation of the anticipated delay. Within twenty
(20) days after receiving such certificate, the Requesting Holder may withdraw such Demand Request by giving notice to BEPC; if withdrawn, the Demand Request shall be deemed not to have been made for all purposes of this Agreement. BEPC may
defer the filing of a particular Registration Statement or Prospectus, as applicable, pursuant to this Section 2.1.6 only once. 
  

	2.2	 Piggyback Registrations 

2.2.1    Right to Piggyback. Each time BEPC proposes to (a) register any of its equity
securities (other than pursuant to an Excluded Registration) under Canadian Securities Laws or U.S. Securities Laws for sale to the public (whether for the account of BEPC or the account of any securityholder of BEPC) or (b) sell any of its
equity securities (other than pursuant to an Excluded Registration) and with respect to which a Shelf Registration or Shelf Prospectus is expressly being utilized to effect such sale, (clause (a) and (b) are each referred to as a
“Piggyback Registration”), BEPC shall give prompt written notice to each Holder of Registrable Shares, which notice shall offer each such Holder the opportunity to include any or all of its Registrable Shares in such Registration
Statement, Shelf Registration or Prospectus, as applicable, subject to the limitations contained in Section 2.2.2 hereof. Each Holder who desires to have its Registrable Shares included in such Registration Statement, Shelf Registration or
Prospectus, as applicable, shall so advise BEPC in writing (stating the number of Registrable Shares desired to be registered) within three (3) days after the date of such notice from BEPC (or within one (1) Business Day in the case of a
“bought deal” financing). Any Holder shall have the right to withdraw such Holder’s request for inclusion of such Holder’s Registrable Shares in any Registration Statement, Shelf Registration or Prospectus, as applicable,
pursuant to this Section 2.2.1 by giving written notice to BEPC of such withdrawal provided, however, that such request is made prior to the execution of an underwriting agreement (or similar agreement) with respect to such offering. Subject to
Section 2.2.2 below, BEPC shall include in such Registration Statement, Shelf Registration or Prospectus, as applicable, all such Registrable Shares so requested to be included therein; provided, however, that BEPC may at any time withdraw or
cease proceeding with any such registration or sale if it shall at the same time withdraw or cease proceeding with the registration or sale of all other equity securities originally proposed to be registered or sold. Each Holder shall protect and
maintain the confidentiality of all information communicated to it by BEPC concerning a proposed Piggyback Registration pursuant to this Section 2.2.1 until such information becomes available in the public domain. 

  
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 2.2.2    Priority on Piggyback Registrations 

 

	 	(a)	 If a Piggyback Registration is an underwritten offering, and if the managing underwriter advises BEPC that
the inclusion of Registrable Shares requested to be included in a Registration Statement, Shelf Registration or Prospectus, as applicable, would cause an Adverse Effect, BEPC shall only be required to include such number of Registrable Shares in
such Registration Statement, Shelf Registration or Prospectus, as applicable, as such underwriter advises in writing would not cause an Adverse Effect, with priority given as follows: (i) first, the securities BEPC proposes to sell,
(ii) second, the Registrable Shares requested to be included in such Registration Statement, Shelf Registration or Prospectus, pro rata among the Holders of such Registrable Shares on the basis of the number of Registrable Shares owned by each
such Holder, and (iii) third, any other securities requested to be included in such Registration Statement, Shelf Registration or Prospectus. If as a result of the provisions of this Section 2.2.2(a) any Holder shall not be entitled to
include all Registrable Shares in a Registration Statement, Shelf Registration or Prospectus that such Holder has requested to be so included, such Holder may withdraw such Holder’s request to include Registrable Shares in such Registration
Statement, Shelf Registration or Prospectus, as applicable. 

  

	 	(b)	 No Holder may participate in any Registration Statement, Shelf Registration or Prospectus, as applicable, in
respect of a Piggyback Registration hereunder unless such Holder (i) agrees to sell such Holder’s Registrable Shares on the basis provided in any underwriting arrangements approved by BEPC and (ii) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and other documents, each in customary form, reasonably required under the terms of such underwriting arrangements; provided, however, that no such Holder shall be required to
make any representations or warranties in connection with any such registration other than representations and warranties as to (A) such Holder’s ownership of Registrable Shares to be sold or transferred free and clear of all liens,
claims, and encumbrances, (B) such Holder’s power and authority to effect such transfer, and (C) such matters pertaining to compliance with applicable Securities Laws as may be reasonably requested; provided, further, however, that
the obligation of such Holder to indemnify pursuant to any such underwriting arrangements shall be several, not joint and several, among such Holders selling Registrable Shares, and the liability of each such Holder will be in proportion thereto,
and provided, further, that such liability will be limited to the net amount received by such Holder from the sale of its Registrable Shares pursuant to such Registration Statement, Shelf Registration or Prospectus. 

  
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	2.3	 Short-Form Filings 

 

	 	(a)	 Shelf Registration Statement. BEPC shall use its reasonable best efforts to cause Demand
Registrations in the United States to be registered on a shelf registration statement on an appropriate form (including, but not limited to, Form F-10, Form F-3 or Form S-3, as may be applicable, or their successor forms, but excluding Form S-8, Form S-4 or Form
F-4, or their successor forms, or any other form for a similar purpose) once BEPC becomes eligible to use any such form, and BEPC shall use its reasonable best efforts to remain so eligible to use any such
form. 

  

	 	(b)	 Short-Form Prospectus. BEPC shall use its reasonable best efforts to cause Demand Registrations in
Canada to be qualified by way of a short-form Prospectus prepared pursuant to the POP System if, at the time of such Demand Registration, BEPC is a POP Issuer and is able to do so in all of the provinces and territories in which the Demand
Registration is to be effected. For greater certainty, it is acknowledged that in the event that BEPC is not a POP Issuer or is unable to utilize the POP System in one or more Canadian provinces or territories in which the Demand Registration is to
be effected, BEPC shall proceed by way of long-form Prospectus. 

  

	2.4	 Registration Procedures 

Whenever any Holder has requested that any Registrable Shares be registered pursuant to this Agreement, BEPC will use its
reasonable best efforts to effect the registration and the sale of such Registrable Shares in accordance with the intended method of disposition thereof as promptly as is practicable, and pursuant thereto BEPC will as expeditiously as possible: 

 

	 	(a)	 prepare and file, pursuant to Section 2.1.1(b) with respect to any Demand Registration, subject to
Section 2.3, a Registration Statement or Prospectus, as applicable, with respect to such Registrable Shares and use its reasonable best efforts to cause such Registration Statement or Prospectus, as applicable, to become Effective; provided
that as far in advance as practicable before filing such Registration Statement or Prospectus, as applicable, or any amendment or supplement thereto, BEPC will furnish to the selling Holders copies of reasonably complete drafts of all such documents
prepared to be filed (including exhibits), and any such Holder shall have the opportunity to object to any information contained therein and BEPC will make corrections reasonably requested by such Holder with respect to such information prior to
filing any such Registration Statement or Prospectus, as applicable, or any amendment or supplement thereto; 

  

	 	(b)	 except in the case of a Shelf Registration or Shelf Prospectus, prepare and file with the SEC or the
applicable Canadian Commissions, such amendments, post-effective amendments and supplements to such Registration Statement or Prospectus, as applicable, as may be necessary to 

  
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keep such Registration Statement or Prospectus, as applicable, effective for a period of not less than one hundred eighty (180) days (or such lesser period as is necessary for the
underwriters in an underwritten offering to sell unsold allotments) and comply with the provisions of the applicable Securities Laws with respect to the disposition of all securities covered by such Registration Statement or Prospectus, as
applicable, during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement or Prospectus, as applicable; 

 

	 	(c)	 in the case of a Shelf Registration or Shelf Prospectus, prepare and file with the SEC or the applicable
Canadian Commissions, as applicable, such amendments and supplements to such Shelf Registration or Shelf Prospectus, as applicable, as may be necessary to keep such Shelf Registration or Shelf Prospectus, as applicable, effective and to comply with
the provisions of the applicable Securities Laws with respect to the disposition of all Registrable Shares subject thereto for a period ending on the earlier of (i) twenty four (24) months after the Effective Date and (ii) the date on
which all the Registrable Shares subject thereto have been sold pursuant to such Shelf Registration or Shelf Prospectus, as applicable; 

  

	 	(d)	 furnish to each seller of Registrable Shares and the underwriters of the securities being registered such
number of copies of such Registration Statement, Shelf Registration or Prospectus, as applicable (in the English language and, if required, the French language), each amendment and supplement thereto, any documents incorporated by reference therein
and such other documents as such seller or underwriters may reasonably request in order to facilitate the disposition of the Registrable Shares owned by such seller or the sale of such securities by such underwriters (it being understood that,
subject to Section 2.5 and the requirements of the applicable Securities Laws, BEPC consents to the use of the Registration Statement, Shelf Registration and Prospectus, as applicable, and any amendment or supplement thereto by each seller and
the underwriters in connection with the offering and sale of the Registrable Shares covered by the Registration Statement, Shelf Registration or Prospectus, as applicable); 

 

	 	(e)	 use its reasonable best efforts to register or qualify such Registrable Shares under such other securities
or “blue sky” laws of such jurisdictions as the managing underwriter reasonably requests (or, in the event the Registration Statement, Shelf Registration or Prospectus, as applicable, does not relate to an underwritten offering, as the
holders of a majority of such Registrable Shares may reasonably request); use its reasonable best efforts to keep each such registration or qualification (or exemption therefrom) effective during the period in which such Registration Statement,
Shelf Registration or Prospectus, as applicable, is required to be kept effective; and do any and all other acts and things which may be reasonably necessary or advisable to enable each seller to consummate the disposition of the Registrable Shares
owned by such seller in such jurisdictions (provided, however, that BEPC 

  
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will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (ii) subject itself to
taxation in any such jurisdiction, or (iii) consent to general service of process in any such jurisdiction); 

  

	 	(f)	 notify each seller of Registrable Shares and each underwriter and (if requested by any such Person) confirm
such notice in writing (i) when any supplement or amendment to the Registration Statement, Shelf Registration or Prospectus, as applicable, has been filed following the Effective Date, and when the same has become effective, (ii) of the
issuance by any state securities or other regulatory authority of any order suspending the qualification or exemption from qualification of any of the Registrable Shares under state securities or “blue sky” laws or the initiation of any
proceedings for that purpose, and (iii) of the happening of any event which makes any statement made in the Registration Statement, Shelf Registration or Prospectus, as applicable, untrue or which requires the making of any changes in such
Registration Statement, Shelf Registration or Prospectus, as applicable, or documents so that they will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading, and, as promptly as practicable thereafter, prepare and file with the SEC and the applicable Canadian Commissions (as applicable) and furnish a supplement or amendment to such Registration Statement, Shelf
Registration or Prospectus, as applicable, so that, as thereafter deliverable to the purchasers of such Registrable Shares, such Registration Statement, Shelf Registration or Prospectus, as applicable, will not contain any untrue statement of a
material fact or omit a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; 

  

	 	(g)	 permit any selling Holder, which in such Holder’s sole and exclusive judgment, might reasonably be
deemed to be an underwriter or a controlling person of BEPC, to participate in the preparation of such Registration Statement, Shelf Registration or Prospectus, as applicable, and to require the insertion therein of material, furnished to BEPC in
writing, which in the reasonable judgment of such Holder and its counsel should be included; 

  

	 	(h)	 make reasonably available personnel, as selected by the Holders of a majority of the Registrable Shares
included in such registration, for assistance in the selling effort relating to the Registrable Shares covered by such registration, including, but not limited to, the participation of such members of BEPC’s management in road show
presentations; 

  

	 	(i)	 otherwise use its reasonable best efforts to comply with all applicable Securities Laws, and make generally
available to BEPC’s securityholders an earnings statement satisfying the provisions of Section 11(a) of the U.S. Securities Act no later than thirty (30) days after the end of the twelve (12)

  
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month period beginning with the first day of BEPC’s first fiscal quarter commencing after the Effective Date, which earnings statement shall cover said twelve (12) month period, and
which requirement will be deemed to be satisfied if BEPC timely files complete and accurate information on Forms 20-F and 6-K under the Exchange Act which otherwise
complies with Rule 158 under the U.S. Securities Act; 

  

	 	(j)	 if requested by the managing underwriter or any seller of Registrable Shares, promptly incorporate in a
prospectus supplement or post-effective amendment such information as the managing underwriter or any seller reasonably requests to be included therein, including, without limitation, with respect to the Registrable Shares being sold by such seller,
the purchase price being paid therefor by the underwriters and with respect to any other terms of the underwritten offering of the Registrable Shares to be sold in such offering, and promptly make all required filings of such prospectus supplement
or post-effective amendment; 

  

	 	(k)	 after filing of any document which is incorporated by reference into the Registration Statement or
Prospectus, as applicable (in the form in which it was incorporated), deliver a copy of each such document to each seller of Registrable Shares; 

  

	 	(l)	 cooperate with the sellers of Registrable Shares and the managing underwriter to facilitate the timely
preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law) representing securities sold under any Registration Statement or Prospectus, as applicable, and enable such securities to be
in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to BEPC’s transfer agent prior to the Effective Date a supply of such certificates;

  

	 	(m)	 make available for inspection by any seller of Registrable Shares, any underwriter participating in any
disposition pursuant to any Registration Statement or Prospectus, as applicable, and any attorney, accountant or other agent or representative retained by any such seller or underwriter (collectively, the “Inspectors”), all
financial and other records, pertinent corporate documents and properties of BEPC (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause BEPC’s
officers, directors and employees to supply all information requested by any such Inspector in connection with such Registration Statement or Prospectus, as applicable; provided, however, that, unless the disclosure of such Records is necessary to
avoid or correct a misstatement or omission in the Registration Statement or Prospectus, as applicable, or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, BEPC shall not be
required to provide any information under 

  
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this subparagraph (m) if (i) BEPC believes, after consultation with counsel for BEPC, that to do so would cause BEPC to forfeit an attorney-client privilege that was applicable to such
information or (ii) if either (x) BEPC has requested and been granted from the SEC or a Canadian Commission confidential treatment of such information contained in any filing with the SEC or a Canadian Commission or documents provided
supplementally or otherwise or (y) BEPC reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing, unless prior to furnishing any such information with respect to clause (ii) such
Holder of Registrable Shares requesting such information agrees to enter into a confidentiality agreement in customary form and subject to customary exceptions; and provided, further, that each Holder of Registrable Shares agrees that it will, upon
learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to BEPC and allow BEPC, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential;

  

	 	(n)	 furnish to each seller of Registrable Shares and underwriter a signed counterpart of (i) an opinion or
opinions of counsel to BEPC, (ii) a comfort letter or comfort letters from BEPC’s independent auditors, addressed to the underwriters, each in customary form and covering such matters of the type customarily covered by opinions or comfort
letters, as the case may be, as the managing underwriter reasonably requests, and (iii) if a Prospectus is filed in Quebec, opinions of Quebec counsel to BEPC and the auditors of BEPC addressed to the Holder and the underwriter or underwriters
of such distribution relating to the translation of the Prospectus; 

  

	 	(o)	 cause the Registrable Shares included in any Prospectus or Registration Statement, as applicable, to be
listed on the Toronto Stock Exchange and on the New York Stock Exchange; 

  

	 	(p)	 provide and cause to be maintained a transfer agent and registrar for all Registrable Shares registered
hereunder; 

  

	 	(q)	 cooperate with each seller of Registrable Shares and each underwriter participating in the disposition of
such Registrable Shares and their respective counsel in connection with any filings required to be made with FINRA; 

  

	 	(r)	 during the period when the Registration Statement or Prospectus, as applicable, is required to be delivered
under the applicable Securities Laws, promptly file all documents required to be filed with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act or with the Canadian Commissions pursuant to Canadian Securities Laws;

  

	 	(s)	 notify each seller of Registrable Shares promptly of any request by the SEC or a Canadian Commission for the
amending or supplementing of such 

  
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Registration Statement or Prospectus, as applicable, or for additional information; 

  

	 	(t)	 enter into such agreements (including underwriting agreements in the managing underwriter’s customary
form) as are customary in connection with an underwritten registration; and 

  

	 	(u)	 advise each seller of such Registrable Shares, promptly after it shall receive notice or obtain knowledge
thereof, of the issuance of any stop order or ruling by the SEC or a Canadian Commission suspending the effectiveness of such Registration Statement or Prospectus, as applicable, or the initiation or threatening of any proceeding for such purpose
and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal at the earliest possible moment if such stop order should be issued. 

 

	2.5	 Suspension of Dispositions 

Each Holder agrees by acquisition of any Registrable Shares that, upon receipt of any notice (a “Suspension
Notice”) from BEPC of the happening of any event of the kind described in Section 2.4(f)(iii) such Holder will forthwith discontinue disposition of Registrable Shares until such Holder’s receipt of the copies of the supplemented
or amended Registration Statement or Prospectus, as applicable, or until it is advised in writing (the “Advice”) by BEPC that the use of the Registration Statement or Prospectus, as applicable, may be resumed, and has received
copies of any additional or supplemental filings which are incorporated by reference in the Registration Statement or Prospectus, as applicable, and, if so directed by BEPC, such Holder will deliver to BEPC all copies, other than permanent file
copies then in such Holder’s possession, of the Registration Statement or Prospectus, as applicable, covering such Registrable Shares current at the time of receipt of such notice. In the event BEPC shall give any such notice, the time period
regarding the effectiveness of Registration Statements or Prospectuses, as applicable, set forth in Sections 2.4(b) and 2.4(c) hereof shall be extended by the number of days during the period from and including the date of the giving of the
Suspension Notice to and including the date when each seller of Registrable Shares covered by such Registration Statement or Prospectus, as applicable, shall have received the copies of the supplemented or amended Registration Statement or
Prospectus, as applicable, or the Advice. BEPC shall use its reasonable best efforts and take such actions as are reasonably necessary to render the Advice as promptly as practicable. 

 

	2.6	 Registration Expenses 

All fees and expenses incident to any registration including, without limitation, BEPC’s performance of or compliance
with this Article 2, all registration and filing fees, all fees and expenses associated with filings required to be made with FINRA (including, if applicable, the reasonable fees and expenses of any “qualified independent underwriter” and
of its counsel), as may be required by the rules and regulations of FINRA, fees and expenses of compliance with securities or “blue sky” laws (including 

  
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reasonable fees and disbursements of counsel in connection with “blue sky” qualifications of the Registrable Shares), rating agency fees, printing expenses (including expenses of
printing certificates for the Registrable Shares and of printing prospectuses), messenger and delivery expenses, the fees and expenses incurred in connection with any listing or quotation of the Registrable Shares, fees and expenses of counsel for
BEPC and its independent auditors (including the expenses of any special audit or “cold comfort” letters required by or incident to such performance), the fees and expenses of any special experts retained by BEPC in connection with such
registration, and the fees and expenses of other persons retained by BEPC, will be borne by BEPC (unless paid by a security holder that is not a Holder for whose account the registration is being effected) whether or not any Registration Statement
or Prospectus becomes Effective; provided, however, that any underwriting discounts, commissions, or fees attributable to the sale of the Registrable Shares will be borne by the Holders pro rata on the basis of the number of Shares so registered and
the fees and expenses of any counsel, accountants, or other persons retained or employed by any Holder will be borne by such Holder. 
  

	2.7	 Indemnification 

2.7.1    BEPC agrees to indemnify and reimburse, to the fullest extent permitted by law, each seller of
Registrable Shares, and each of its employees, advisors, agents, representatives, partners, officers, and directors and each Person who Controls such seller and any agent or investment advisor thereof (collectively, the “Seller
Affiliates”) (a) against any and all losses, claims, damages, liabilities, and expenses, joint or several (including, without limitation, reasonable attorneys’ fees and disbursements except as limited by Section 2.7.3) based
upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus or any amendment thereof or supplement thereto, or any omission or alleged omission of
a material fact required to be stated therein or necessary to make the statements therein not misleading, (b) against any and all loss, liability, claim, damage, and expense whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or
alleged untrue statement or omission, and (c) against any and all costs and expenses (including reasonable fees and disbursements of counsel) as may be reasonably incurred in investigating, preparing, or defending against any litigation, or
investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission,
or violation of the Securities Laws, to the extent that any such expense or cost is not paid under subparagraph (a) or (b) above; except insofar as any such statements are made in reliance upon and in strict conformity with information
furnished in writing to BEPC by such seller or any Seller Affiliate for use therein or arise from such seller’s or any Seller Affiliate’s failure to deliver a copy of the Registration Statement or Prospectus or any amendments or
supplements thereto after BEPC has furnished such seller or Seller Affiliate with a sufficient number of copies of the same. The 

  
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reimbursements required by this Section 2.7.1 will be made by periodic payments during the course of the investigation or defense, as and when bills are received or expenses incurred. 

2.7.2    In connection with any Registration Statement or Prospectus in which a seller of Registrable
Shares is participating, each such seller will furnish to BEPC and/or BEP in writing such information and affidavits as BEPC and/or BEP reasonably requests for use in connection with any such Registration Statement or Prospectus, as applicable,
and, to the fullest extent permitted by law, each such seller will indemnify BEPC, BEP and each of their respective employees, advisors, agents, representatives, partners, officers and directors and each Person who Controls BEPC or BEP, as
applicable (excluding such seller or any Seller Affiliate) and any agent or investment advisor thereof against any and all losses, claims, damages, liabilities, and expenses (including, without limitation, reasonable attorneys’ fees and
disbursements except as limited by Section 2.7.3) resulting from any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or Prospectus, as applicable, or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or alleged untrue statement or omission or
alleged omission is contained in any information or affidavit so furnished in writing by such seller or any of its Seller Affiliates specifically for inclusion in the Registration Statement or Prospectus, as applicable; provided that the obligation
to indemnify will be several, not joint and several, among such sellers of Registrable Shares, and the liability of each such seller of Registrable Shares will be in proportion to, and will be limited to, the net amount received by such seller from
the sale of Registrable Shares pursuant to such Registration Statement or Prospectus, as applicable; provided, however, that such seller of Registrable Shares shall not be liable in any such case to the extent that prior to the filing of any such
Registration Statement or Prospectus, as applicable, or amendment thereof or supplement thereto, such seller has furnished in writing to BEPC and/or BEP information expressly for use in such Registration Statement or Prospectus, as applicable, or
any amendment thereof or supplement thereto which corrected or made not misleading information previously furnished to BEPC and/or BEP. 

2.7.3    Any Person entitled to indemnification hereunder will (a) give prompt written notice to the
indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give such notice shall not limit the rights of such Person) and (b) unless in such indemnified party’s reasonable judgment a
conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided,
however, that any person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such person unless
(i) the indemnifying party has agreed to pay such fees or 

  
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expenses, (ii) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person, or (iii) such counsel has been
retained due to a conflict as described below. If such defense is not assumed by the indemnifying party as permitted hereunder, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its
consent (but such consent will not be unreasonably withheld or delayed). If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim
unless (A) such settlement or compromise contains a full and unconditional release of the indemnified party without any admission of liability on the part of such indemnified party or (B) the indemnified party otherwise consents in
writing. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to
such claim (together with appropriate local counsel), unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim,
in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels. 

2.7.4    Each party hereto agrees that, if for any reason the indemnification provisions contemplated by
Section 2.7.1 or Section 2.7.2 are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities, or expenses (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, liabilities, or expenses (or actions in respect thereof) in such proportion as is appropriate to reflect the relative
fault of the indemnifying party and the indemnified party in connection with the actions which resulted in the losses, claims, damages, liabilities or expenses as well as any other relevant equitable considerations. The relative fault of such
indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information
supplied by such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just
and equitable if contribution pursuant to this Section 2.7.4 were determined by pro rata allocation (even if the Holders or any underwriters or all of them were treated as one entity for such purpose) or by any other method of allocation which
does not take account of the equitable considerations referred to in this Section 2.7.4. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities, or expenses (or actions in respect thereof)
referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or, except as provided in Section 2.7.3, defending any such action or claim.
Notwithstanding the provisions of this Section 2.7.4, no Holder shall be required to contribute an 

  
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amount greater than the dollar amount by which the net proceeds received by such Holder with respect to the sale of any Registrable Shares exceeds the amount of damages which such Holder has
otherwise been required to pay by reason of any and all untrue or alleged untrue statements of material fact or omissions or alleged omissions of material fact made in any Registration Statement or Prospectus, as applicable, or any amendment thereof
or supplement thereto related to such sale of Registrable Shares. No person guilty of fraudulent misrepresentation shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Holders’
obligations in this Section 2.7.4 to contribute shall be several in proportion to the amount of Registrable Shares registered by them and not joint. 

2.7.5    If indemnification is available under this Section 2.7, the indemnifying parties shall
indemnify each indemnified party to the full extent provided in Section 2.7.1 and Section 2.7.2 without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration provided for in
Section 2.7.4 subject, in the case of the Holders, to the limited dollar amounts set forth in Section 2.7.2. 

2.7.6    The indemnification and contribution provided for under this Agreement will remain in full force
and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director, or controlling Person of such indemnified party and will survive the transfer of securities. 

 

	2.8	 Transfer of Registration Rights 

The rights of each Holder under this Agreement may, in the Holder’s discretion, be assigned, in whole or in part, to any
direct or indirect transferee of all or any portion of such Holder’s Registrable Shares who agrees in writing to be subject to and bound by all the terms and conditions of this Agreement. For greater certainty, in the case of a transfer of less
than all of such Holder’s Registrable Shares, no such assignment will limit or otherwise impair the transferor’s rights under this Agreement. 
  

	2.9	 Current Public Information 

BEPC will file the reports required to be filed by it under applicable Securities Laws (or, if BEPC is not required to file
such reports, will, upon the request of the Holders, make publicly available other information) and will take such further action as any of the Holders may reasonably request, all to the extent required from time to time to enable the Holders to
sell Registrable Securities without registration under, and subject to the limitations of, applicable Securities Laws. Upon the reasonable request of any Holder, BEPC will deliver to such parties a written statement as to whether it has complied
with such requirements and will, at its expense, forthwith upon the request of any such Holder, deliver to such Holder a certificate, signed by an officer, stating (a) BEPC’s name, address and telephone number (including area code),
(b) BEPC’s Internal Revenue Service identification number and Business Number issued by the Canada Revenue Agency, (c) BEPC’s SEC and SEDAR file numbers, (d) the number of 

  
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Shares outstanding as shown by the most recent report or statement published by BEPC, and (e) whether BEPC has filed the reports required to be filed under the applicable Securities Laws for
a period or at least ninety (90) days prior to the date of such certificate and in addition has filed the most recent annual report required to be filed thereunder. 
  

	2.10	 Preservation of Rights 

BEPC will not directly or indirectly (a) grant any registration rights to third parties which are more favorable than or
inconsistent with the rights granted hereunder or (b) enter into any agreement, take any action, or permit any change to occur, with respect to its securities that violates or subordinates the rights expressly granted to the Holders in this
Agreement. 
  

	2.11	 Obligations of BEP 

Whenever any Holder has requested that any Registrable Shares be registered in accordance with the terms of this Agreement,
BEP shall (i) cooperate with BEPC to satisfy BEPC’s obligations pursuant to this Agreement and participate in the preparation, as necessary, of a Registration Statement and/or Prospectus by BEPC and (ii) take any and all such actions
as may be required under this Agreement and/or applicable Securities Laws to register the underlying limited partnership units of BEP that may be issued upon an exchange, redemption or purchase of Shares, or as a result of the liquidation,
dissolution or winding up of BEPC or BEP. The provisions of the registration rights agreement between BEP and Brookfield Renewable Energy Partners L.P. dated November 28, 2011 (as amended, the
“BEP-BRELP Registration Rights Agreement”), other than sections 2.1.1(b)(i) and 2.1.1(b)(ii) thereof, shall apply to the registration of any underlying limited partnership units of BEP that
may be delivered by Brookfield to a holder of Shares upon an exchange of Shares, mutatis mutandis, and the preparation of a Registration Statement and/or Prospectus by BEP in connection therewith shall be deemed to be a “Demand
Registration” under the BEP-BRELP Registration Rights Agreement without the need for Brookfield to take any further action thereunder. 

ARTICLE 3 

TERMINATION 
  

	3.1	 Termination 

The Holders may exercise the registration rights granted hereunder in such manner and proportions as they shall agree among
themselves. The registration rights hereunder shall cease to apply to any particular Registrable Shares when: (a) a Registration Statement or Prospectus, as applicable, with respect to the sale of such Shares (or other securities) shall have
become Effective and such Shares shall have been disposed of in accordance with such Registration Statement or Prospectus, as applicable; (b) such Shares (or other securities) shall have been sold to the public pursuant to an exemption under
applicable Securities Laws; (c) such Shares (or other securities) shall 

  
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have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have been delivered by BEPC and subsequent public distribution of them shall not
require registration under applicable Securities Laws; (d) such Shares (or other securities) shall have ceased to be outstanding; or (e) such Registrable Shares are eligible for sale pursuant to Rule 144(b)(1) (without the requirement
for BEPC to be in compliance with the current public information required under Rule 144) under the U.S. Securities Act. BEPC shall promptly upon the request of any Holder furnish to such Holder evidence of the number of Registrable Shares then
outstanding. 
 ARTICLE 4 

MISCELLANEOUS 
  

	4.1	 Enurement 

This Agreement will enure to the benefit of and be binding upon the parties hereto and their respective successors and
permitted assigns. 
  

	4.2	 Notices 

Any notice or other communication required or permitted to be given hereunder will be in writing and will be given by prepaid
first-class mail, by facsimile or other means of electronic communication, including e-mail, or by hand-delivery as hereinafter provided. Any such notice or other communication, if mailed by prepaid
first-class mail at any time other than during a general discontinuance of postal service due to strike, lockout or otherwise, will be deemed to have been received on the fourth Business Day after the post-marked date thereof, or if sent by
facsimile or other means of electronic communication, will be deemed to have been received on the Business Day following the sending, or if delivered by hand will be deemed to have been received at the time it is delivered to the applicable address
noted below either to the individual designated below or to an individual at such address having apparent authority to accept deliveries on behalf of the addressee. Notice of change of address will also be governed by this section. In the event of a
general discontinuance of postal service due to strike, lock-out or otherwise, notices or other communications will be delivered by hand or sent by facsimile or other means of electronic communication and will
be deemed to have been received in accordance with this section. Notices and other communications will be addressed as follows: 

4.2.1    if to Brookfield: 

Brookfield Asset Management Inc. 

Brookfield Place, 181 Bay Street 

Suite 300, P.O. Box 762 

Toronto, Ontario M5J 2T3 

Attention:    Chief Legal Officer 

  
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 4.2.2    if to BEPC: 

Brookfield Renewable Corporation 

250 Vesey Street, 15th Floor 

New York, NY 10281-1023 

Attention:    Chief Financial Officer 

4.2.3    if to BEP: 

Brookfield Renewable Partners L.P. 

73 Front Street, 5th Floor 

Hamilton HM12, Bermuda 

Attention:    Chief Financial Officer 

or to such other addresses as a party may from time to time notify the other in accordance with this Section 4.2. 

If to any other Holder, the address indicated for such Holder in BEPC’s stock transfer records with copies, so long as
Brookfield owns any Registrable Shares, to Brookfield as provided above. 
  

	4.3	 Authority 

Each of the parties hereto represents to the other that (a) it has the corporate power and authority to execute, deliver
and perform this Agreement, (b) the execution, delivery and performance of this Agreement by it has been duly authorized by all necessary corporate action and no such further action is required, (c) it has duly and validly executed and
delivered this Agreement, and (d) this Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting creditors’ rights generally and general equity principles. 
  

	4.4	 Further Assurances 

Each of the parties hereto will promptly do, make, execute or deliver, or cause to be done, made, executed or delivered, all
such further acts, documents and things as the other party hereto may reasonably require from time to time for the purpose of giving effect to this Agreement and will use commercially reasonable efforts and take all such steps as may be reasonably
within its power to implement to their full extent the provisions of this Agreement. 
  

	4.5	 Counterparts 

This Agreement may be signed in counterparts and each of such counterparts will constitute an original document and such
counterparts, taken together, will constitute one and the same instrument. 

  
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 [NEXT PAGE IS SIGNATURE PAGE] 

  
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 IN WITNESS WHEREOF the parties have executed this Agreement as of the day and year
first above written. 
  

					
	 BROOKFIELD ASSET MANAGEMENT INC.

		
	 By:
	 	 /s/ Jessica Diab

		 	 Name:
	 	 Jessica Diab

		 	 Title:
	 	 Vice President

  

					
	 BROOKFIELD RENEWABLE CORPORATION

		
	 By:
	 	 /s/ Jennifer Mazin

		 	 Name:
	 	 Jennifer Mazin

		 	 Title:
	 	 General Counsel and Corporate Secretary

  

					
	BROOKFIELD RENEWABLE PARTNERS L.P., by its general partner, BROOKFIELD RENEWABLE PARTNERS LIMITED
		
	 By:
	 	 /s/ Jane Sheere

		 	 Name:
	 	 Jane Sheere

		 	 Title:
	 	 Secretary

  
 [Signature page to Registration
Rights Agreement]

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