Document:

Exhibit 4.17

 

Translation

 

SUPPLEMENTARY AGREEMENT (22) TO POLYSILICON SUPPLY CONTRACT

 

Party A’s Contract No.: TCZ-A1130-0803-CGC-120-2014-S0

 

Party B’s Contract No.: SSC000119

 

This Agreement is entered into by and between the following two parties in Changzhou, China on January 27, 2014:

 

Party A: Changzhou Trina Solar Energy Co., Ltd.

Address: No.2 Tianhe Road, Trina PV Industrial Park, Xinbei District, Changzhou, Jiangsu

 

Party B: Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd.

Address: No.66 Yangshan Road, Xuzhou Economic Development Zone, Jiangsu

 

Whereas, Party A and Party B signed a Polysilicon Supply Contract regarding the purchase of silicon and reached a number of supplementary agreements thereafter (see Appendix I for details, the foregoing contract and agreements hereinafter collectively referred to as the “Original Contract”), and both parties wish to seek further and full-spectrum cooperation in terms of joint development of solar energy business. Both parties hereby enter into the following supplementary agreement (this “Agreement”) regarding such matters as the prices, quantities, offset of advance payment, etc. of the silicon to be purchased for mutual compliance:

 

Clause 1.                                             Arrangements for Purchase of Silicon

 

Party A and Party B agree to reach the following latest arrangements in terms of the quantities and offset of advance payment for the silicon to be purchased in 2014:

 

1.1.                            Arrangements for the Purchase Quantities

 

1.1.1.                  The annual quantity of silicon to be purchased by Party A from Party B in 2014 is 1000 tons.

 

Based on the annual purchase quantity, both parties have reached the following agreement on the revision of monthly purchase quantities (the “Annual Purchase Schedule”) through equal and voluntary consultation:

 

	
Year 2014
    	
 
    	
Jan
    	
 
    	
Feb
    	
 
    	
Mar
    	
 
    	
Apr
    	
 
    	
May
    	
 
    	
Jun
    	
 
    	
Jul
    	
 
    	
Aug
    	
 
    	
Sep
    	
 
    	
Oct
    	
 
    	
Nov
    	
 
    	
Dec
    	
 
    	
Total
    
	
Quantity of   polysilicon (ton)
    	
 
    	
80
    	
 
    	
80
    	
 
    	
80
    	
 
    	
100
    	
 
    	
100
    	
 
    	
80
    	
 
    	
80
    	
 
    	
80
    	
 
    	
80
    	
 
    	
80
    	
 
    	
80
    	
 
    	
80
    	
 
    	
1000
    

 

1.1.2.                  Party A shall, based on the Annual Purchase Schedule, provide Party B with a written purchase plan for the following month before the 24th day of each month (inclusive, and in case such day falls on a national holiday or weekend, such day can be postponed to the first working day thereafter), following the principal that the monthly purchase quantity shall be proportionately apportioned to each week. The annual total purchase quantity shall not be lower than the purchase quantity set out in Clause 1 of this Agreement. Party A agrees that, in absence of any clarification of weekly purchase quantity in the monthly purchase plan, Party B can make the weekly delivery in a quantity evenly apportioned from the monthly purchase quantity. For avoidance of any dispute, both parties agree that, if Party A fails to provide Party B with the purchase plan as provided or agreed in this clause before the 24th day of each month, Party B will be entitled to:

 

(1)                                 deliver the goods in such monthly purchase quantity as set out in Clause 1.1.1, and Party A shall not reject such delivery;

 

(2)                                 suspend any delivery of goods to Party A if Party A still fails to provide the purchase plan before the last five days of the following month (regardless whether or not such day is a working day), and Party A will be deemed to reject the delivery of goods in such quantity to

 

 

be purchased for this month as set out in Clause 1.1.1 (i.e. Party A is deemed to reject to take the delivery of goods).

 

1.2.                            Arrangements for Offset of Advance Payment

 

1.2.1.                  Prior to the date of this Agreement. i.e. by December 31, 2013, pursuant to the Original Contract signed by Party A and Party B, the balance of the advance payment for silicon made by Party A to Party B that is yet to be offset is RMB [****]† (RMB [****]†). Starting from January 2014, a monthly amount of RMB [****]† (RMB [****]†) shall be offset against the purchase prices payable for the monthly purchase quantity of the current month until the advance payment is offset to zero.

 

1.2.2.                  The monthly offset from the advance payment shall be conditional upon Party A’s completion of the purchase quantity for such month as agreed in this Agreement and payment of the price for such order within the agreed timeframe (Note: for the purpose of monthly offset from the advance payment, both parties confirm that ‘the payment of the price” as mentioned in the last sentence shall refer that Party A completes the payment equaling “the purchase price for the current month minus the amount to be offset from the advance payment for the current month” within the agreed timeframe).

 

1.2.3.                  If the purchase quantity of any month is lower than the delivery quantity as provided in the Annual Purchase Schedule in Clause 1.1.1, or if the purchase price for such month is not paid in full, then no offset can be made from the advance payment for such month. Notwithstanding the foregoing provisions, if Party A increases its purchase quantity in any month of 2014, making the aggregate purchase quantity by such month meet the aggregate purchase quantity as provided in Clause 1.1.1 of this Contract for the same period, Party A shall be deemed to meet the purchase quantity by that month and is entitled to offset the full amount with the advance payment by such month. If the annual quantity of silicon purchased by Party A throughout 2014 reaches the total delivery quantity as provided in the Annual Purchase Schedule in Clause 1.1.1, Party B shall allow Party A to offset the purchase prices from the full amount of advance payment for 2014, i.e. RMB [****]† (RMB [****]†) in total.

 

To further specify the provisions of this clause, an example is set out as below:

 

If Party A only purchases 40 tons in January 2014, then Party A will not be allowed to offset the purchase price with the advance payment; but if Party A purchases 120 tons in February 2014, making the aggregate purchase amount for January and February reach 160 tons and satisfying the threshold purchase quantity for two months, then Party A will be entitled to offset the purchase prices for January and February with the advance payment in February, and so on.

 

1.3.                            Price Negotiation Mechanism

 

1.3.1.                  The prices of silicon: Both parties shall negotiate the monthly purchase price on a monthly basis. If both parties have reached an agreement on the price, then the price shall remain unchanged, provided that Party B ensures that it is the most favorable price for similar products during the same period. If both parties fail to reach an agreement on the purchase price for the current month five days before delivery, Party B shall implement the order for the current month at “the most favorable price” for the similar product that is offered to its top three customers (which do not include Party B’s affiliated companies) in the previous month (if the most favorable price is different, the exercisable price for the current month shall be the lowest price of the three customers under the same conditions or the average price of the three customers), and Party B shall offer such price to Party A. If Party A has any objection to the aforementioned price, both parties may jointly select a third party with audit qualifications in Shanghai, the PRC to audit and determine such “most favorable prices”, whose conclusion shall be binding upon both parties. Such audit agency shall keep the information submitted by Party B confidential. If there are more transactions of other types of silicon between both parties, the same pricing method as provided herein shall apply.

 

†                                         This portion of the Supplementary Agreement (22) to Polysilicon Supply Contract has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 24b-2 under the Exchange Act of 1934.

 

2

 

1.3.2.                  Any failure to reach agreement on the purchase price within the prescribed timeframe or any objection of Party A against Party B on the above most favorable price in any one month shall not affect the purchase, sales and actual delivery of goods between both parties in the following month. The final settlement price after the delivery is made and taken shall be determined under the aforementioned price negotiation mechanism. In case an audit is required by both parties as set out  in Clause 1.3.1, the purchase, delivery and payment of price between both parties shall not be affected during the audit period.

 

1.3.3.                  Unless otherwise agreed by both parties, both parties agree that the price negotiation mechanism shall take effect as from the date of this Agreement to December 31, 2014.

 

1.4.                            Arrangements for Payment

 

The time and way of payment for the payable purchase price as described above shall be separately negotiated by both parties and agreed in written form. If both parties have stipulated the time of payment, the purchase payment shall be made no later than the [27th] calendar day of the current month in any circumstances. The payment shall be made by wire transfer, a bank’s acceptance bill or a 120-day letter of credit.

 

1.5.                            In case that Party A, following the execution of this Agreement, needs to further purchase silicon apart from the annual supply quantity for 2014 as set forth in Clause 1.1.1, Party A shall give priority to purchase from Party B, provided that both the price and quality of Party B’s goods are competitive in the market.

 

Clause 2.                                             Liability for Breach of Contract

 

2.1.                            Party A’s Liability

 

2.1.1.                  Liability for overdue payment: If Party A does not make the payment when due and still fails to make the payment in full within 15 days after the agreed payment term, Party A shall be liable for liquidated damages in a daily amount of 0.1% of the overdue payment amount. Such liquidated damages shall be calculated from the date on which the payment becomes overdue to the date on which such overdue payment is made in full. If Party A’s payment is overdue for more than 30 days, (1) Party B is entitled to unilaterally cancel or terminate this Agreement in part or in whole; (2) Party B shall require Party A to assume liabilities pursuant to the Original Contract; and (3) in addition to the aforesaid liquidated damages for the daily overdue payment (calculated from the termination date of this Agreement), Party A shall pay off the outstanding amount and be liable for the liquidated damages in an amount of 10% of the total overdue payment.

 

2.1.2.                  Liability for rejection of goods: If Party A fails to take the delivery of goods after Party B delivers the purchased goods as agreed in this Agreement (which shall be deemed as rejection of goods), relevant risks associated with such goods shall be transferred to Party A. If Party A fails to pay off the payment for the relevant goods and take the delivery of such goods from Party B’s warehouse (if Party B has delivered the goods) within 3 working days after the rejection of goods, Party A shall be liable for the overdue payment as required by Clause 2.1.1, and pay for the relevant warehouse and labor management costs. In addition, Party B shall also be entitled to take hold of the goods rejected by Party A or temporarily store the goods in Party B’s warehouse. In addition to the liabilities for overdue payment and warehouse and labor management costs, all the losses suffered by Party B as a result of such taking hold or or temporary storing shall be indemnified by Party A.

 

2.1.3.                  If the way of delivery is adjusted to fetching goods by Party A itself, the liabilities of Party A for rejection to fetch goods shall be subject to Clause 2.1.2.

 

3

 

2.2.                            Party B’s Liability

 

2.2.1.                  If Party B fails to perform its obligation of delivering goods as scheduled and still fails to make the delivery within 15 days after the date on which delivery falls due, Party B shall be liable for delayed delivery to Party A with an amount of 0.1% of the payment for such delayed goods for each day overdue. Such liquidated damages shall be calculated from the date on which delivery becomes overdue to the date on which goods are completely delivered. If Party B fails to deliver goods for more than 30 days, (1) Party A is entitled to unilaterally cancel or terminate this Agreement in part or in whole; (2) Party A shall require Party B to assume liabilities pursuant to the Original Contract; and (3) in addition to the aforesaid liquidated damages for the daily overdue delivery (calculated from the termination date of this Agreement), Party B shall pay off the outstanding amount and be liable for the liquidated damages in an amount of 10% of the total overdue payment.

 

2.2.2.                  If the goods delivered by Party B fail to meet the requirements as provided in this Agreement and the Original Contract, Party A shall be entitled to require Party B to replace the goods with such goods consistent with the specifications as agreed in this Agreement, and the transportation fee and other costs incurred thereby shall be assumed by Party B.

 

Clause 3.      Miscellaneous

 

3.1.                            If there are any discrepancies or conflicts between the Original Contract and this Agreement, this Agreement shall prevail. Any matters not covered by this Agreement shall be subject to the Original Contract.

 

3.2.                            Any dispute arising out of the Original Contract and this Agreement shall be resolved by both parties through friendly consultation; if no resolution can be reached through consultation, both parties agree to refer such dispute to China International Economic and Trade Arbitration Commission Beijing Sub-Commission for settlement by arbitration.

 

3.3.                            This Agreement shall take effect after being sealed by both parties.

 

3.4.                            This Agreement shall be executed in four original copies, of which Party A and Party B shall each keep two copies. Each copy shall have the same legal effect.

 

(No Text Below)

 

4

 

Party A:                                                Changzhou Trina Solar Energy Co., Ltd. (Seal)

 

Legal Representative or Authorized Representative (Signature):

 

[Company Seal is Affixed]

 

Party B:                                                Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. (Seal)

 

Legal Representative or Authorized Representative (Signature):

 

[Company Seal is Affixed]

 

5

 

Appendix I

 

List of Polysilicon Supply Agreement and the Supplementary Agreements and Memorandums

 

	
No.
    	
 
    	
Date of
    Execution
    	
 
    	
Contract Title
    	
 
    	
Party A’s Contract No.
    
	
1
    	
 
    	
Mar 29,   2008
    	
 
    	
Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2
    	
 
    	
Aug 19,   2008
    	
 
    	
Supplementary   Agreement (1) to Polysilicon Original Contract and Supplementary   Agreements
    	
 
    	
TCZ-A1130-0803-CGC-120-0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3
    	
 
    	
Aug 2008
    	
 
    	
Supplementary   Amendment to Supplementary Agreement (1) to Polysilicon Original   Contract and Supplementary Agreements
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4
    	
 
    	
Dec 8, 2008
    	
 
    	
Memorandum
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5
    	
 
    	
Jan 21,   2009
    	
 
    	
Memorandum
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
6
    	
 
    	
Apr 1, 2009
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
7
    	
 
    	
May 4,   2009
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-C
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
8
    	
 
    	
Jul 20,   2009
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-D
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
9
    	
 
    	
Jul 25,   2009
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-E
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
10
    	
 
    	
Jul 31,   2009
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-F
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
11
    	
 
    	
Aug 24,   2009
    	
 
    	
Supplementary   Agreement (2) to Polysilicon Original Contract and Supplementary   Agreements
    	
 
    	
TCZ-A1130-0803-CGC-120-0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12
    	
 
    	
Oct 26,   2009
    	
 
    	
Supplementary   Agreement (3) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-G
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
13
    	
 
    	
Nov 20,   2009
    	
 
    	
Contract   Performance Memorandum 09-12
    	
 
    	
TCZ-A1130-0803-CGC-120-H
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
14
    	
 
    	
Dec 15,   2009
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-J
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
15
    	
 
    	
Jan 12,   2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-K
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
16
    	
 
    	
Feb 23,   2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-L
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
17
    	
 
    	
Mar 29,   2010
    	
 
    	
Supplementary   Agreement (4) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
18
    	
 
    	
Apr 2010
    	
 
    	
Memorandum   (1) to Supplementary Agreement (4) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
19
    	
 
    	
Apr 2, 2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-M
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
20
    	
 
    	
Apr 26,   2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-N
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
21
    	
 
    	
May 14,   2010
    	
 
    	
Memorandum   (2) to Supplementary Agreement (4) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
22
    	
 
    	
Jul 7, 2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-O
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
23
    	
 
    	
Jul 29,   2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-
    

 

6

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
120-P
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
24
    	
 
    	
Jul 30,   2010
    	
 
    	
Memorandum   (3) to Supplementary Agreement (4) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-3
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
25
    	
 
    	
Aug 24,   2010
    	
 
    	
Memorandum   (4) to Supplementary Agreement (4) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-4
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
26
    	
 
    	
Aug 30,   2010
    	
 
    	
Contract   Performance Memorandum
    	
 
    	
TCZ-A1130-0803-CGC-120-Q
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
27
    	
 
    	
Sep 29,   2010
    	
 
    	
Supplementary   Agreement (5) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-5
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
28
    	
 
    	
Oct 16,   2010
    	
 
    	
Supplementary   Agreement (6) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-R
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
29
    	
 
    	
Oct 30,   2010
    	
 
    	
Supplementary   Agreement (7) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-S
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
30
    	
 
    	
Dec 30,   2010
    	
 
    	
Supplementary   Agreement (8) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-6
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
31
    	
 
    	
Dec 3, 2010
    	
 
    	
Supplementary   Agreement (9) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-T
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
32
    	
 
    	
Jan 11,   2011
    	
 
    	
Supplementary   Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-7
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
33
    	
 
    	
Dec 28,   2010
    	
 
    	
Supplementary   Agreement (11) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-U
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
34
    	
 
    	
Jan 26, 2011
    	
 
    	
Supplementary   Agreement (12) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2011-1
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
35
    	
 
    	
Apr 2, 2011
    	
 
    	
Supplementary   Agreement (13) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2011-2
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
36
    	
 
    	
Apr 28,   2011
    	
 
    	
May 2011   Memorandum to Supplementary Agreement (4) to Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2011-3
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
37
    	
 
    	
Jun 7, 2011
    	
 
    	
Memorandum   (1) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-8
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
38
    	
 
    	
Jun 21,   2011
    	
 
    	
Memorandum   (2) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-9
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
39
    	
 
    	
Jun 21,   2011
    	
 
    	
Memorandum   (3) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-10
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
40
    	
 
    	
Jun 24,   2011
    	
 
    	
June 2011   Memorandum to Supplementary Agreement (4) to Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2011-4
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
41
    	
 
    	
Jul 25,   2011
    	
 
    	
Memorandum   (4) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-11
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
42
    	
 
    	
Oct 14,   2011
    	
 
    	
Memorandum   (5) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-13
    

 

7

 

	
43
    	
 
    	
Oct 18,   2011
    	
 
    	
October 2011   Memorandum to Supplementary Agreement (4) to Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2011-5
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
44
    	
 
    	
Oct 31,   2011
    	
 
    	
Memorandum   (6) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-14
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
45
    	
 
    	
Nov 8, 2011
    	
 
    	
Memorandum   (7) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-15
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
46
    	
 
    	
Nov 14,   2011
    	
 
    	
Memorandum   (8) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-16
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
47
    	
 
    	
Dec 25,   2011
    	
 
    	
Memorandum   (9) to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-17
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
48
    	
 
    	
Dec 25,   2011
    	
 
    	
Memorandum   (10) to Supplementary Agreement (10) to Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-18
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
49
    	
 
    	
Jan 5, 2012
    	
 
    	
Memorandum (11) to   Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-19
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
50
    	
 
    	
Jan 11,   2012
    	
 
    	
Memorandum (12) to   Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-20
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
51
    	
 
    	
Feb 6, 2012
    	
 
    	
Memorandum (13) to   Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-21
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
52
    	
 
    	
Feb 22,   2012
    	
 
    	
Memorandum (14) to   Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-22
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
53
    	
 
    	
Mar 2, 2012
    	
 
    	
February 2012   Memorandum to Supplementary Agreement (4) to Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-1
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
54
    	
 
    	
Mar 19,   2012
    	
 
    	
Memorandum (15) to   Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-23
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
55
    	
 
    	
Mar 22,   2012
    	
 
    	
Supplementary   Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
56
    	
 
    	
Mar 22,   2012
    	
 
    	
Supplementary   Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-2
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
57
    	
 
    	
Mar 26,   2012
    	
 
    	
Memorandum   (1) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-1
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
58
    	
 
    	
Mar 28,   2012
    	
 
    	
March 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-4
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
59
    	
 
    	
Apr 28,   2012
    	
 
    	
April 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-5
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
60
    	
 
    	
Apr 30,   2012
    	
 
    	
Memorandum   (2) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-2
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
61
    	
 
    	
May 14,   2012
    	
 
    	
Memorandum   (3) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-3
    

 

8

 

	
62
    	
 
    	
May 28,   2012
    	
 
    	
May 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-6
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
63
    	
 
    	
Jun 1, 2012
    	
 
    	
Memorandum   (4) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-4
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
64
    	
 
    	
Jun 7, 2012
    	
 
    	
April and   May 2012 Memorandum Supplementary Agreement to   Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-7
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
65
    	
 
    	
Jun 11,   2012
    	
 
    	
Memorandum   (5) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-5
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
66
    	
 
    	
Jul 1, 2012
    	
 
    	
Silicon Material   Memorandum on Modification of Polysillicon Specifications in the Order of   May 2012
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-6-A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
67
    	
 
    	
Jul 1, 2012
    	
 
    	
June 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-8
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
68
    	
 
    	
Jul 9, 2012
    	
 
    	
Memorandum   (6) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-6
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
69
    	
 
    	
Aug 10,   2012
    	
 
    	
Memorandum   (7) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-7
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
70
    	
 
    	
Aug 16,   2012
    	
 
    	
July 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-9
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
71
    	
 
    	
Aug 16,   2012
    	
 
    	
August 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-9-A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
72
    	
 
    	
Aug 28,   2012
    	
 
    	
Memorandum   (8) to Supplementary Agreement (15) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-8
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
73
    	
 
    	
Oct 26,   2012
    	
 
    	
Supplementary   Agreement (18) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-10
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
74
    	
 
    	
Oct 26,   2012
    	
 
    	
Supplementary   Agreement (17) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-9
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
75
    	
 
    	
Oct 29,   2012
    	
 
    	
Agreement on   Creditor’s Right Transfer and Set-off
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-3-9-A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
76
    	
 
    	
Oct 31,   2012
    	
 
    	
November 2012 Memorandum   to Supplementary Agreement (16) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2012-11
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
77
    	
 
    	
Jan 31,   2013
    	
 
    	
[February 2013] Memorandum   to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-W1
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
78
    	
 
    	
Feb 28,   2013
    	
 
    	
[March 2013] Memorandum   to Supplementary Agreement (10) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-W2
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
79
    	
 
    	
Mar 8, 2013
    	
 
    	
Supplementary   Agreement (19) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-W3
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
80
    	
 
    	
Mar 8, 2013
    	
 
    	
Supplementary   Agreement (20) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S1
    

 

9

 

	
81
    	
 
    	
Mar 19,   2013
    	
 
    	
[March 2013]Memorandum   to Supplementary Agreement (20) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S2
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
82
    	
 
    	
May 7,   2013
    	
 
    	
[April 2013]Memorandum   to Supplementary Agreement (20) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S3
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
83
    	
 
    	
May 28,   2013
    	
 
    	
[May 2013]Memorandum   to Supplementary Agreement (20) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S5
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
84
    	
 
    	
Jun 27,   2013
    	
 
    	
[June 2013]Memorandum   to Supplementary Agreement (20) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S6
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
85
    	
 
    	
Aug 29,   2013
    	
 
    	
[July to   August 2013]Memorandum to Supplementary Agreement (20) to Polysilicon   Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S7
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
86
    	
 
    	
Oct 15,   2013
    	
 
    	
[September to   October 2013]Memorandum to Supplementary Agreement (20) to Polysilicon   Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S8
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
87
    	
 
    	
Nov 25,   2013
    	
 
    	
[November   2013]Memorandum to Supplementary Agreement (20) to Polysilicon Supply   Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S9
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
88
    	
 
    	
Nov 27,   2013
    	
 
    	
[December 2013]Memorandum   to Supplementary Agreement (20) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2013-S10
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
89
    	
 
    	
Jan 8, 2014
    	
 
    	
[January 2014]Memorandum   to Supplementary Agreement (4) to Polysilicon Supply Agreement
    	
 
    	
TCZ-A1130-0803-CGC-120-2014-S1
    

 

10Exhibit 10.1

 

EIGHTH AMENDMENT TO FIFTH AMENDED AND RESTATED MORTGAGE

WAREHOUSING AND SECURITY AGREEMENT

 

THIS EIGHTH AMENDMENT TO FIFTH AMENDED AND RESTATED MORTGAGE WAREHOUSING AND SECURITY AGREEMENT (this “Amendment”) is made as of March 28, 2014, by and among ACRE CAPITAL LLC (f/k/a EF&A FUNDING, L.L.C.) (the “Borrower”), BANK OF AMERICA, N.A., as Credit Agent (in such capacity, the “Credit Agent”), and the LENDERS party to this Amendment (the “Lenders”).

 

WITNESSETH:

 

WHEREAS, the Credit Agent, the Lender and the Borrower are parties to that certain Fifth Amended and Restated Mortgage Warehousing and Security Agreement, dated as of April 16, 2010 (as amended to date, the “Loan Agreement”); and

 

WHEREAS, the Credit Agent and the Lender have agreed to further amend the Loan Agreement as set forth herein, all on and subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Credit Agent and the Lender agree as follows:

 

1.     Defined Terms.  Capitalized terms used in this Amendment but not defined herein shall have the meanings set forth in the Loan Agreement.

 

2.     Amendment to Loan Agreement.  As of the Effective Date (as hereafter defined), the Loan Agreement is hereby amended as follows:

 

(a)       Clause (2) of the second sentence of Section 1.1(i) is hereby amended by deleting the date “April 1, 2014” where it appears therein and replacing it with “May 1, 2014.”

 

3.     Conditions Precedent.  This Amendment shall be effective upon the satisfaction by the Borrower of, or written waiver by Credit Agent of, the following conditions and any other conditions set forth in this Amendment, by no later than 2:00 p.m. (Chicago time) on March 28, 2014, subject to extension at the discretion of the Credit Agent (with the date, if at all, by which such conditions have been satisfied or waived being referred to herein as, the “Effective Date”), failing which this Amendment shall be null and void at the option of the Credit Agent:

 

(a)       The Credit Agent shall have received the following:

 

(i)                                     This Amendment, duly executed by all parties.

 

 

(ii)           Such certificates of resolutions or other actions, incumbency certificates and/or other certificates of an authorized officer of the Borrower as the Credit Agent may require evidencing (A) the authority of the Borrower to enter into this Amendment and any other documents to be executed and delivered in connection herewith, and (B) the identity, authority and capacity of the officer executing and delivering this Amendment on behalf of the Borrower.

 

(iii)          Such other documents as the Credit Agent may reasonably request.

 

(b)       No Default or Event of Default will exist as of the Effective Date.

 

(c)       The representations and warranties made by the Borrower in the Loan Agreement and the other Loan Documents shall have been when made, and will be on the Effective Date, true and correct in all material respects, except as to matters which speak to a specific date and changes in the ordinary course to the extent permitted and contemplated by the Loan Agreement.

 

4.     Waiver of Claims.  The Borrower as of the date hereof and as of the Effective Date, acknowledges, confirms and agrees that it has no offsets, defenses, claims, counterclaims or causes of action of any kind or nature against the Credit Agent and/or any Lender with respect to any of its liabilities and obligations owing to the Credit Agent and/or any Lender, and, in any event, as of the date hereof and as of the Effective Date the Borrower specifically waives, releases, and forever relinquishes all claims, demands, obligations, liabilities, and causes of action of whatever kind or nature, whether known or unknown, which it has or may have as of the date hereof or the Effective Date against the Credit Agent and/or the Lender, or their respective affiliates, officers, directors, employees, agents, attorneys, independent contractors, and predecessors, together with their successors and assigns, directly or indirectly arising out of or based upon any matter connected with the Loan Agreement or the administration thereof or the obligations created thereby.

 

5.     Acknowledgments by the Borrower.  As of the date hereof and as of the Effective Date, the Borrower acknowledges, confirms, represents and warrants and agrees that:

 

(a)       This Amendment is a Loan Document.

 

(b)       Except as provided herein, the terms and conditions of the Loan Agreement and the other Loan Documents remain in full force and effect, and, as of the date hereof and as of the Effective Date, the Borrower hereby (x) ratifies, confirms and reaffirms all and singular of the terms and conditions of the Loan Agreement and the other Loan Documents applicable to the Borrower, and (y) represents and warrants that:

 

(i)          As of the date the Borrower executes this Amendment, no Default or Event of Default exists, and no Default or Event of Default will exist as of the Effective Date.

 

2

 

(ii)         The representations and warranties made by the Borrower in the Loan Agreement and the other Loan Documents are true and correct in all material respects as of the date hereof, and will be true and correct in all material respects as of the Effective Date, except as to matters which speak to a specific date, and changes in the ordinary course to the extent permitted and contemplated by the Loan Agreement.

 

(iii)        The Borrower has the power and authority and legal right to execute, deliver and perform this Amendment, and has taken all necessary action to authorize the execution, delivery, and performance of this Amendment, and the person executing and delivering this Amendment on behalf of the Borrower is duly authorized to do so.

 

(iv)        This Amendment has been duly executed and delivered on behalf of the Borrower and constitutes the legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject to the effect of applicable bankruptcy and other similar laws affecting the rights of creditors generally and the effect of equitable principles whether applied in an action at law or a suit in equity.

 

(c)       The Borrower shall promptly pay upon receipt of an invoice or statement therefor the reasonable attorneys’ fees and expenses and disbursements incurred by the Credit Agent in connection with this Amendment and all previous matters relating to the Loan Agreement and the Borrower’s relationship with the Credit Agent and the Lender.

 

6.     Miscellaneous.

 

(a)       This Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute one instrument.  Signatures transmitted electronically (including by fax or e-mail) shall have the same legal effect as the originals, but each party nevertheless shall deliver original signed counterparts of this Amendment to each other party upon request of another party.

 

(b)       This Amendment expresses the entire understanding of the parties with respect to the transactions contemplated hereby.  No prior negotiations or discussions shall limit, modify or otherwise affect the provisions hereof.

 

(c)       This Amendment shall be governed in accordance with the internal laws of the State of New York (without regard to conflict of laws principles which would result in the application of the law of another jurisdiction) as an instrument under seal.

 

[Remainder of page intentionally left blank]

 

3

 

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

 

	
 
    	
ACRE   CAPITAL LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
ACRE   Capital Holdings LLC,
    
	
 
    	
 
    	
its   Sole Member
    
	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Kelley A Prevete
    
	
 
    	
 
    	
 
    	
Name:   Kelley A. Prevete
    
	
 
    	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A., as Credit
    
	
 
    	
Agent   and Lender
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Andrew Blomstedt
    
	
 
    	
 
    	
Name:   Andrew Blomstedt
    
	
 
    	
 
    	
Title:   Vice President
    

 

Signature page to Eighth Amendment to Fifth Amended and Restated Mortgage

Warehousing and Security Agreement

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