Document:

Exhibit

EXECUTION VERSION

Exhibit 10.12

FIRST AMENDMENT TO CREDIT AND GUARANTY AGREEMENT
THIS FIRST AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”) is dated as of November 6, 2017 and is entered into by and among TERRAFORM POWER OPERATING, LLC, a Delaware limited liability company (“Borrower”), TERRAFORM POWER, LLC, a Delaware limited liability company (“Holdings”), CERTAIN SUBSIDIARIES OF BORROWER, as Guarantors, the Lenders party hereto, and HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent acting with the consent of the Lenders, and is made with reference to that certain CREDIT AND GUARANTY AGREEMENT dated as of October 17, 2017 (the “Credit Agreement”) by and among Borrower, Holdings, the subsidiaries of the Borrower named therein, the Lenders, the Issuing Banks, the Administrative Agent, the Collateral Agent and the other Agents named therein.  Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement after giving effect to this Amendment.
RECITALS
WHEREAS, the Credit Parties have requested that Lenders agree to amend certain provisions of the Credit Agreement as provided for herein; 
WHEREAS, each existing Lender that executes and delivers a signature page to this Amendment will thereby agree to the terms of this Amendment;
WHEREAS, reference is made to the Term Loan and Guaranty Agreement dated as of the date hereof among Borrower, Holdings, certain subsidiaries of Borrower party thereto, as guarantors, the lenders party thereto from time to time, and Royal Bank of Canada, as administrative agent and collateral agent, pursuant to which the Lenders party thereto have agreed to make senior secured term loans denominated in Dollars in the amount of $350,000,000;
WHEREAS, subject to certain conditions, Lenders are willing to agree to such amendments relating to the Credit Agreement.
NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:
		
	SECTION I.    
	AMENDMENTS TO CREDIT AGREEMENT

		
	1.1
	Amendments to Section 1.1: Definitions.

A.        Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in proper alphabetical sequence:
“Existing Term Loan Refinancing Cap” means an amount equal to the sum of (x) $450,000,000 and (y) additional amounts from time to time if, immediately after giving effect to the incurrence of such additional amounts (but without giving effect to any amount incurred simultaneously under the immediately preceding clause (x)) and the application of 

the proceeds therefrom, the First Lien Leverage Ratio (as defined in the Term Facility Agreement), computed as of the last day of the most recently ended Fiscal Quarter, is equal to or less than 2.50:1.00.
“First Amendment” means that certain First Amendment to Credit and Guaranty Agreement dated as of November 6, 2017, among Holdings, Borrower, each Guarantor party thereto, the Lenders party thereto and Administrative Agent.
“First Amendment Effective Date” has the meaning assigned to such term in Section II of the First Amendment.
“Term Facility Administrative Agent” means Royal Bank of Canada, in its capacity as administrative agent and collateral agent under the Existing Term Loan Refinancing Documents, or any successor administrative agent or collateral agent under the Existing Term Loan Refinancing Documents.
“Term Facility Agreement” means the Term Loan and Guaranty Agreement dated as of November 8, 2017, among Holdings, Borrower, the Subsidiaries party thereto, as guarantors, the lenders party thereto, the Term Facility Administrative Agent and the joint lead arrangers and joint bookrunners party thereto, as such agreement may be amended, restated, amended and restated, supplemented, waived or otherwise modified from time to time or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time, in each case as and to the extent permitted by this Agreement and the Pari Passu Intercreditor Agreement.
B.         (i) The definitions of  “Existing Term Loan Refinancing Documents” and “Pari Passu Intercreditor Agreement” in Section 1.1 of the Credit Agreement are hereby deleted in their entirety and replaced as follows:
“Existing Term Loan Refinancing Documents” means (i) the Term Facility Agreement and (ii) all guarantee and collateral documentation in respect thereof governing the terms of Indebtedness of the Borrower and the Guarantors, a portion of the proceeds of which are used to refinance the Indebtedness under the Existing Term Credit Agreement; provided that (a) such Indebtedness has a maturity no earlier than the Maturity Date, (b) such Indebtedness does not constitute an obligation (including pursuant to a guarantee) of any Subsidiary of Holdings other than a Credit Party or a Subsidiary that provides a guarantee pursuant to Section 5.20, (c) such Indebtedness is secured only by the Collateral, including any collateral of Non-Recourse Subsidiaries securing guarantees pursuant to Section 5.20 and shall be subject to the terms of the Pari Passu Intercreditor Agreement and (d) the Indebtedness under the Existing Term Credit Agreement shall be repaid, all accrued interest, fees, premiums (if any) and penalties in connection therewith shall be paid, and all commitments thereunder shall be terminated, in each case on the First Amendment Effective Date.
“Pari Passu Intercreditor Agreement” means the Pari Passu Intercreditor Agreement dated as of the First Amendment Effective Date among Administrative Agent, Term Facility Administrative Agent and the Credit Parties.

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1.2    Amendments to Section 6.1: Indebtedness.  Section 6.1(q) of the Credit Agreement is hereby deleted in its entirety and replaced as follows:
“(q)    Indebtedness under (i) (A) the Senior 2023 Notes Documents (and guaranties thereof by the Credit Parties pursuant to the Senior 2023 Notes Documents) and (B) the Senior 2025 Notes Documents (and guaranties thereof by the Credit Parties pursuant to the Senior 2025 Notes Documents), in the case of all such Indebtedness outstanding at any time pursuant to this subclause (i), in an aggregate principal amount not to exceed $1,250,000,000 and (ii) the Existing Term Loan Refinancing Documents in an aggregate principal amount not to exceed the Existing Term Loan Refinancing Cap, and in the case of each of clauses (i) through (ii), any Refinancing Indebtedness in respect thereof.”
1.3    Amendments to Section 6.3: No Further Negative Pledges.  Section 6.3 of the Credit Agreement is hereby deleted in its entirety and replaced as follows:
“Except with respect to (a) specific property encumbered to secure payment of particular Indebtedness or to be sold pursuant to an executed agreement with respect to a permitted sale, disposition or other transfer, (b) restrictions by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses and similar agreements entered into in the ordinary course of business (provided that such restrictions are limited to the property or assets secured by such Liens or the property or assets subject to such leases, licenses or similar agreements, as the case may be), (c) restrictions as of the Closing Date identified on Schedule 6.3, (d) restrictions on the Equity Interests of Non-Recourse Subsidiaries in any Non-Recourse Project Indebtedness documentation or other Indebtedness documentation of Non-Recourse Subsidiaries, (e) [reserved], (f) restrictions contained in any Credit Document, Senior 2023 Notes Document or Senior 2025 Notes Document, in each case as in effect on the Closing Date, or in the Existing Term Loan Refinancing Documents as in effect on the First Amendment Effective Date (or in any agreement or other document evidencing Refinancing Indebtedness in respect of the Indebtedness established by any of the foregoing (or, in the case of the Indebtedness established under the Credit Documents, any Credit Agreement Refinancing Indebtedness)); provided that the restrictions and conditions contained in any such agreement or other document are not less favorable in any material respect to the Lenders than the restrictions and conditions imposed by the agreements or other documents in respect of the Indebtedness being refinanced) and (g) restrictions on Non-Recourse Subsidiaries described in Section 6.2(q), no Credit Party or any of its Subsidiaries (other than any Non-Recourse Subsidiary) shall enter into any agreement prohibiting the creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired, to secure the Obligations.”

1.4    Amendments to Section 6.5: Restrictions on Subsidiary Distributions.  Section 6.5 of the Credit Agreement is hereby deleted in its entirety and replaced as follows:
“Except as provided herein, no Credit Party shall, nor shall it permit any of its Subsidiaries (other than any Non-Recourse Subsidiary) to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of 

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any Subsidiary of Borrower to (a) pay dividends or make any other distributions on any of such Subsidiary’s Equity Interests owned by Borrower or any other Subsidiary of Borrower, (b) repay or prepay any Indebtedness owed by such Subsidiary to Borrower or any other Subsidiary of Borrower, (c) make loans or advances to Borrower or any other Subsidiary of Borrower, or (d) transfer, lease or license any of its property or assets to Borrower or any other Subsidiary of Borrower other than (i) by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into in the ordinary course of business, (ii) restrictions that are or were created by virtue of any transfer of, agreement to transfer or option or right with respect to any property, assets or Equity Interests not otherwise prohibited under this Agreement, (iii) restrictions as of the Closing Date described on Schedule 6.5, or (iv) restrictions contained in any Credit Document, Senior 2023 Notes Document or Senior 2025 Notes Document, in each case as in effect on the Closing Date, or in the Existing Term Loan Refinancing Document as in effect on the First Amendment Effective Date (or in any agreement or other document evidencing Refinancing Indebtedness in respect of the Indebtedness established by any of the foregoing (or, in the case of the Indebtedness established under the Credit Documents, any Credit Agreement Refinancing Indebtedness)); provided that the restrictions and conditions contained in any such agreement or other document are not less favorable in any material respect to the Lenders than the restrictions and conditions imposed by the agreements or other documents in respect of the Indebtedness being refinanced).”
		
	SECTION II.    
	AMENDMENTS TO CREDIT DOCUMENTS

2.1        Amendments to Credit Agreement.  This Amendment shall become effective as of the date on which the following conditions precedent shall be satisfied (or effectively waived) (the “First Amendment Effective Date”):
A.        Execution. Administrative Agent shall have received (i) a counterpart signature page of this Amendment duly executed by each of the Credit Parties and (ii) a counterpart signature page of this Amendment from the Lenders constituting Requisite Lenders.
B.        Representations and Warranties. Each of the representations and warranties contained in Section 4 of the Credit Agreement and in the other Credit Documents shall be true and correct in all material respects on and as of the First Amendment Effective Date (except to the extent any such representation or warranty is expressly stated to have been made as of a specific date, in which case such representation or warranty shall be true and correct in all material respects as of such date).
		
	SECTION III.    
	REPRESENTATIONS AND WARRANTIES

In order to induce Lenders to enter into this Amendment and to amend the Credit Agreement in the manner provided herein, each Credit Party which is a party hereto represents and warrants as of the date hereof to each Lender that the following statements are true and correct in all material respects:
A.        Corporate Power and Authority.  Each of Holdings and its Subsidiaries party hereto has all requisite power and authority to enter into this Amendment and to carry out the 

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transactions contemplated hereby and by the Credit Agreement (as amended by this Amendment) and the other Credit Documents. 
B.        Due Authorization.  The execution, delivery and performance of this Amendment have been duly authorized by all necessary action on the part of each Credit Party that is a party hereto.
C.        No Conflict.  The execution, delivery and performance by the Credit Parties of this Amendment and the consummation of the transactions contemplated hereby and by the Credit Agreement and the other Credit Documents do not and will not (a) violate (i) any provision of any law or any governmental rule or regulation applicable to any Credit Party or any Subsidiary of Holdings except where such violations could not reasonably be expected to have a Material Adverse Effect, (ii) any of the Organizational Documents of Holdings or any of its Subsidiaries, or (iii) any order, judgment or decree of any court or other agency of government binding on Holdings or any of its Subsidiaries except, in this clause (a)(iii), where such violation could not reasonably be expected to have a Material Adverse Effect; (b) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of Holdings or any of its Subsidiaries except to the extent such conflict, breach or default could not reasonably be expected to have a Material Adverse Effect; (c) result in or require the creation or imposition of any Lien upon any of the properties or assets of Holdings or any of its Subsidiaries (other than any Liens created under any of the Credit Documents in favor of Collateral Agent, for the benefit of the Secured Parties); or (d) require any approval of stockholders, members or partners or any approval or consent of any Person under any Contractual Obligation of Holdings or any of its Subsidiaries, except for such approvals or consents which will be obtained on or before the First Amendment Effective Date and except for any such approvals or consents the failure of which to obtain will not have a Material Adverse Effect. 
D.        Governmental Consents.  The execution, delivery and performance by the Credit Parties of this Amendment and the Credit Agreement and the consummation of the transactions contemplated hereby do not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority except (a) such as have been obtained or made and are in full force and effect and (b) for filings and recordings with respect to the Collateral.
E.        Binding Obligation. This Amendment has been duly executed and delivered by each Credit Party that is a party hereto and this Amendment and the Credit Agreement are the legally valid and binding obligations of such Credit Party, enforceable against such Credit Party in accordance with their respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability.
F.        Incorporation of Representations and Warranties from Credit Agreement. The representations and warranties contained in Section 4 of the Credit Agreement are and will be true and correct in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date.

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G.        Absence of Default.  No event has occurred and is continuing or will result immediately from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Default.
		
	SECTION IV.    
	ACKNOWLEDGMENT AND CONSENT

Each of Holdings, Borrower and each Guarantor hereby acknowledges that it has reviewed the terms and provisions of the Credit Agreement and this Amendment and consents to the amendment of the Credit Agreement effected pursuant to this Amendment.  Each of Holdings, Borrower and each Guarantor hereby confirms that each Credit Document to which it is a party or otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents the payment and performance of all “Obligations” under each of the Credit Documents to which is a party (in each case as such terms are defined in the applicable Credit Document).
Each of Holdings, Borrower and each Guarantor acknowledges and agrees that any of the Credit Documents (as they may be modified by this Amendment) to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment other than to the extent expressly contemplated hereby.
Each Guarantor acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Guarantor is not required by the terms of the Credit Agreement or any other Credit Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Credit Document shall be deemed to require the consent of such Guarantor to any future amendments to the Credit Agreement.
		
	SECTION V.    
	MISCELLANEOUS

A.        Reference to and Effect on the Credit Agreement and the Other Credit Documents. 
(i)        On and after the First Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Credit Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended by this Amendment.
(ii)        This Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and shall be administered and construed pursuant to the terms of the Credit Agreement.
(iii)        Except as specifically amended by this Amendment, the Credit Agreement and the other Credit Documents shall remain in full force and effect and are hereby ratified and confirmed.

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(iv)        The execution, delivery and performance of this Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the Credit Agreement or any of the other Credit Documents.
B.        Headings.  Section and Subsection headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.
C.        Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY OTHER LAW.
D.        Jurisdiction; Waiver of Jury Trial. The provisions of Sections 10.15 and 10.16 of the Credit Agreement pertaining to consent to jurisdiction, service of process, and waiver of jury trial are hereby incorporated by reference herein, mutatis mutandis.
E.        Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic format (e.g., “pdf” or “tif” file format) shall be effective as delivery of a manually executed counterpart of this Amendment.
[Remainder of this page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.

TERRAFORM POWER, LLC
TERRAFORM POWER OPERATING, LLC
SUNEDISON CANADA YIELDCO MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ1 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ2 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ3 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ4 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ6 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ7 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ8 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ9 MASTER HOLDCO, LLC
SUNEDISON YIELDCO ACQ10, LLC
SUNEDISON YIELDCO CHILE MASTER HOLDCO, LLC
SUNEDISON YIELDCO DG MASTER HOLDCO, LLC
SUNEDISON YIELDCO DGS MASTER HOLDCO, LLC
SUNEDISON YIELDCO DG-VIII MASTER HOLDCO, LLC
SUNEDISON YIELDCO ENFINITY MASTER HOLDCO, LLC
SUNEDISON YIELDCO NELLIS MASTER HOLDCO, LLC
SUNEDISON YIELDCO REGULUS MASTER HOLDCO, LLC
SUNEDISON YIELDCO UK HOLDCO 3 MASTER HOLDCO, LLC
SUNEDISON YIELDCO UK HOLDCO 4 MASTER HOLDCO, LLC
TERRAFORM CD ACQ MASTER HOLDCO, LLC
TERRAFORM FIRST WIND ACQ MASTER HOLDCO, LLC
TERRAFORM LPT ACQ MASTER HOLDCO, LLC
TERRAFORM POWER IVS I MASTER HOLDCO, LLC
TERRAFORM REC ACQ MASTER HOLDCO, LLC
TERRAFORM SOLAR MASTER HOLDCO, LLC
TERRAFORM SOLAR XVII ACQ MASTER HOLDCO, LLC
TERRAFORM THOR ACQ MASTER HOLDCO, LLC

By:    /s/ Andrea Rocheleau        
Name:    Andrea Rocheleau
Title:    General Counsel and Secretary

HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent 

By:    /s/ Asma Alghofailey        
Name:    Asma Alghofailey
Title:    Vice President
HSBC BANK CANADA, as a Lender

By:    /s/ My Le            
Name:    My Le
Title:    Director, Global Banking

By:    /s/ Shu Wai Chu        
Name:    Shu Wai Chu
Title:    Vice President, Global Banking

BANK OF MONTREAL, Chicago Branch, as a Lender

By:    /s/ Paul Heikkila        
Name:    Paul Heikkila
Title:    Director

THE BANK OF NOVA SCOTIA, as a Lender

By:    /s/ Mathieu Leroux        
Name:    Mathieu Leroux
Title:    Associate Director

By:    /s/ Matthew Hartnoll        
Name:    Matthew Hartnoll
Title:    Director

NATIXIS, NEW YORK BRANCH, as a Lender

By:    /s/ Pierre Audrain        
Name:    Pierre Audrain
Title:    Managing Director

By:    /s/ Johnathan J. Kim        
Name:    Jonathan J. Kim
Title:    Managing Director

ROYAL BANK OF CANADA, as a Lender

By:    /s/ Fank Lambrinos        
Name:    Frank Lambrinos
Title:    Authorized Signatory
SUMITOMO MITSUI BANKING CORPORATION, as a Lender

By:    /s/ Carl Adams            
Name:    Carl Adams
Title:    Managing Director

7Exhibit

Execution Version

Exhibit 10.13

JOINDER AND SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT
THIS JOINDER AND SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT, dated as of April 27, 2018 (this “Amendment”), by and among WELLS FARGO BANK, NATIONAL ASSOCIATION (the “New Lender”), TERRAFORM POWER OPERATING, LLC, a Delaware limited liability company (“Borrower”), TERRAFORM POWER, LLC, a Delaware limited liability company (“Holdings”), and CERTAIN SUBSIDIARIES OF BORROWER, as Guarantors, HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent and each Lender and Issuing Bank party hereto.
RECITALS:
WHEREAS, reference is hereby made to the Credit and Guaranty Agreement, dated as of October 17, 2017 (as it may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among Holdings, Borrower, the subsidiaries of the Borrower party thereto, as guarantors, the Lenders and Issuing Banks party thereto from time to time, HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent and as Collateral Agent, and the other Persons party thereto; 
WHEREAS, subject to the terms and conditions of the Credit Agreement, at the request of the Borrower and with the consent of each Issuing Bank and the Administrative Agent, the New Lender hereby becomes a Lender and an Issuing Bank under the Credit Agreement; and
WHEREAS, Section 10.5 of the Credit Agreement provides that the Borrower, the Administrative Agent and the Requisite Lenders may amend the Credit Agreement as set forth herein.
NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows:
		
	1.
	Approval of Credit Documents.  The New Lender (i) confirms that it has received a copy of the Credit Agreement and the other Credit Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and it is sophisticated with respect to decisions to make loans similar to those contemplated to be made hereunder and it is experienced in making loans of such type; (ii) agrees that it will, independently and without reliance upon Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes Administrative Agent and Collateral Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are delegated to Administrative Agent and Collateral Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it is a Lender under the Credit Agreement and will perform in accordance with its terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.

		
	2.
	Commitment. The New Lender hereby severally agrees to commit to provide its Revolving Commitment under the Credit Agreement and each existing Lender hereby acknowledges its respective Revolving Commitment under the Credit Agreement, in each case, as set forth on Schedule A annexed hereto, on the terms and subject to the conditions set forth below, on April 27, 2018.  Notwithstanding the foregoing, the effectiveness of the Revolving Commitments set forth in Schedule A shall be conditioned upon delivery to the Administrative Agent, on behalf of the New Lender, the documents required pursuant to Section 7(b) below.

		
	4.
	New Lender.  The New Lender acknowledges and agrees that upon its execution of this Amendment that the New Lender shall become a “Lender” and an “Issuing Bank” under, and for all purposes of, the Credit Agreement and the other Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender and an Issuing Bank thereunder.

		
	5.
	Certain Amendments.  Subject to the satisfaction of the terms hereunder the Credit Agreement is hereby amended as follows:

(a) The following defined terms shall be added to Section 1.01 of the Credit Agreement in alphabetical order:
“Amendment No. 2” means Amendment No. 2 to this Agreement, dated as of April 27, 2018, by and among Wells Fargo, the Borrower and Credit Parties party thereto and Lenders and Issuing Banks party thereto.
“Consolidated Return” as defined in the definition of the term “Permitted Tax Distributions”. 
“Holdings Group” as defined in the definition of the term “Permitted Tax Distributions”.
“Wells Fargo” means Wells Fargo Bank, National Association.
(b) The definition of “Credit Document” in Section 1.01 of the Credit Agreement is hereby amended by replacing the word “and” that is immediately before “all other” with a comma and inserting the following at the end of the sentence:  “Amendment No. 1, and”.
(c) The definition of “Letter of Credit Pro Rata Share” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: “means $62,500,000.00 for each of BNS, Natixis, HSBC Canada and Wells Fargo. 
(d) Section 4.12 of the Credit Agreement is hereby amended by deleting the following sentence:
Holdings is treated as a partnership for U.S. Federal income Tax purposes.  

(e) Section 5.3 of the Credit Agreement is hereby amended by deleting the last two sentences of that section and replacing such sentences with the following: 
“No Credit Party will, nor will it permit any of its Subsidiaries to, file or consent to the filing of any consolidated income Tax return with any Person (other than Parent, Holdings or any of its Subsidiaries).  Holdings and Borrower will not take any affirmative action or consent to any action that (i) would cause Borrower to be treated as anything other than an entity that is disregarded as an entity separate from its owner for U.S. Federal income Tax purposes (including, in each case, the filing of an Internal Revenue Service Form 8832 electing to be classified as an association taxable as a corporation) or (ii) would cause a Subsidiary (other than any Subsidiary that is a corporation or an association taxable as a corporation for U.S. Federal income Tax purposes as of the Closing Date) to become a corporation or an association taxable as a corporation for U.S. Federal income Tax purposes if such change to a Subsidiary, when taken together will all such changes under this clause (ii), could reasonably be expected to have a Material Adverse Effect.” 
(f) The definition of “Permitted Tax Distributions” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 
“means (a) with respect to any taxable period for which Holdings and Borrower are each treated as a pass through entity for U.S. Federal income Tax purposes, cash dividends or other distributions or loans declared and paid by Borrower to Holdings  or by Holdings to the members of Holdings, in each case, for the sole purpose of funding the payments by the members of Holdings of the Taxes owed with respect to their respective allocable shares of the taxable net income for such period of Holdings and any of its Subsidiaries treated as pass through entities for U.S. Federal income Tax purposes (whether owned by Holdings directly or through other pass-through entities), provided that such dividends or other distributions shall not exceed, in any taxable period, the product of (i) the highest marginal effective combined Tax rates then in effect under the Internal Revenue Code and under the laws of any state and local taxing jurisdictions in which any member is required to pay income Taxes with respect to Holdings’ and such Subsidiaries’ combined net income (taking into account the deductibility of state and local Taxes in computing U.S. Federal income Taxes) and (ii) net taxable income of Holdings and such Subsidiaries for such taxable period (computed as if they were a single corporation) reduced by any net losses or credits or other tax attributes of Holdings or any such Subsidiary carried over from prior periods to the extent not previously taken into account in computing payments under this clause (ii) and   
(b) with respect to any taxable period for which Holdings is treated as a corporation for U.S. Federal income Tax purposes, cash dividends or other distributions declared and paid, or loans made, (i) by Borrower to Holdings for 

the sole purpose of funding the payment by Holdings of Taxes owed with respect to Holdings' taxable net income that is attributable to Borrower and any of its Subsidiaries treated as pass through entities for U.S. Federal income Tax purposes (whether owned by Borrower directly or through other pass-through entities); provided that such dividends or other distributions shall not exceed, in any taxable period, the product of (A) the highest marginal effective combined Tax rates then in effect under the Internal Revenue Code and under the laws of any state and local taxing jurisdictions in which Holdings is required to pay income Taxes (taking into account the deductibility of state and local Taxes in computing U.S. Federal income Taxes) and (B) net taxable income of Borrower and such Subsidiaries for such taxable period (computed as if they were a single corporation) reduced by any net losses or credits or other tax attributes of Borrower or any such Subsidiary carried over from prior periods to the extent not previously taken into account in computing payments under this clause (i) and (ii) by Holdings to any person of which Holdings is a direct or indirect subsidiary and with whom Holdings files a consolidated, combined, unitary or affiliated income tax return ("Consolidated Return"), for the sole purpose of funding the payment by such person of Taxes owed with respect of such return to the extent such Tax liability is attributable to the income of Holdings and any Subsidiary of Holdings (the "Holdings Group"); provided that such dividends or other distributions shall not exceed, in any taxable period, the amount that the Holdings Group would be required to pay in respect of Federal, state and local income Taxes for such period, determined by taking into account any net losses or credits or other tax attributes of the Holdings Group carried over from prior periods to the extent not previously taken into account in computing payments under this clause (ii), as if the Holdings Group filed a separate Consolidated Return.”
		
	6.
	Credit Agreement Governs.  This Amendment is a Credit Document.  

		
	7.
	Borrower’s Certifications.  By its execution of this Amendment, the undersigned officer on behalf of Borrower (and not in his or her individual capacity) hereby certifies that:

		
	a.
	The representations and warranties contained in the Credit Agreement and the other Credit Documents are true and correct in all material respects on and as of the date hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof;

		
	b.
	No event has occurred and is continuing or would result from the consummation of the borrowing contemplated hereby that would constitute a Default or an Event of Default; and

		
	c.
	Borrower has performed in all material respects all agreements and satisfied all conditions which Section 2.24 of the Credit Agreement provides shall be performed or satisfied by it on or before the date hereof.

		
	8.
	Borrower Covenants.  By its execution of this Amendment, Borrower hereby covenants that Borrower shall make any payments required pursuant to Section 2.18(c) of the Credit Agreement in connection with the Revolving Loan Commitments.

		
	9.
	Eligible Assignee.  By its execution of this Amendment, the New Lender represents and warrants that it is an Eligible Assignee.

		
	10.
	Notice.  For purposes of the Credit Agreement, the initial notice address of the New Lender shall be as set forth below its signature below.

		
	11.
	Recordation of the New Loans.  Upon execution and delivery hereof, Administrative Agent will record the updated schedule of Revolving Commitments in the Register.

		
	12.
	Amendment, Modification and Waiver.  This Amendment may not be amended, modified or waived except by an instrument or instruments in writing signed and delivered on behalf of each of the parties hereto.

		
	13.
	Entire Agreement.  This Amendment, the Credit Agreement and the other Credit Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof.

		
	14.
	GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST- JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK.

		
	15.
	Severability.  In case any provision in or obligation hereunder or under any other Credit Document shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

		
	16.
	Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument.

		
	17.
	Reaffirmation.  Each Credit Party hereby (a) reaffirms and confirms its respective guarantees, pledges, grants of security interests and other obligations under the Credit Agreement (as amended hereby) and each of the other Credit Documents to which it is a party, in respect of, and to secure, the Obligations and (b) agrees that, notwithstanding the effectiveness of this Amendment and the transactions contemplated hereby, the Credit Documents to which it is a party, and such guarantees, pledges, grants of security interests and other obligations thereunder, shall continue to be in full force and effect in accordance with the terms thereof.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Amendment as of the date hereof.

Wells Fargo Bank, National Association, as an Issuing Bank and a Lender

By:    /s/ Hatesh K. Singh            Name: Hatesh K. Singh
Title: Director

Notice Information:
Wells Fargo Bank, N.A.
301 S. College St, 11th Floor
Charlotte, NC, 28202
MAC: D1053-115
Attention: Hatesh Singh
(704)-410-6273

TERRAFORM POWER OPERATING, LLC
By: TERRAFORM POWER, LLC, 
its Sole Member and Sole Manager
By:     /s/ Matthew Berger         
Authorized Signatory
TERRAFORM POWER, LLC,
By:     /s/ Matthew Berger        
Name: Matthew Berger
Title: Chief Financial Officer

SUNEDISON CANADA YIELDCO MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ1 MASTER HOLDCO, LLCSUNEDISON YIELDCO ACQ2 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ3 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ4 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ6 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ7 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ8 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ9 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ACQ10, LLC 
SUNEDISON YIELDCO CHILE MASTER HOLDCO, LLC 
SUNEDISON YIELDCO DG MASTER HOLDCO, LLC 
SUNEDISON YIELDCO DGS MASTER HOLDCO, LLC 
SUNEDISON YIELDCO DG–VIII MASTER HOLDCO, LLC 
SUNEDISON YIELDCO ENFINITY MASTER HOLDCO, LLC 
SUNEDISON YIELDCO NELLIS MASTER HOLDCO, LLC 
SUNEDISON YIELDCO REGULUS MASTER HOLDCO, LLC 
SUNEDISON YIELDCO UK HOLDCO 3 MASTER HOLDCO, LLC 
SUNEDISON YIELDCO UK HOLDCO 4 MASTER HOLDCO, LLC 
TERRAFORM CD ACQ MASTER HOLDCO, LLC 
TERRAFORM FIRST WIND ACQ MASTER HOLDCO, LLC 
TERRAFORM LPT ACQ MASTER HOLDCO, LLC 
TERRAFORM POWER IVS I MASTER HOLDCO, LLC 
TERRAFORM REC ACQ MASTER HOLDCO, LLC 
TERRAFORM SOLAR MASTER HOLDCO, LLC 
TERRAFORM SOLAR XVII ACQ MASTER HOLDCO, LLC 
TERRAFORM THOR ACQ MASTER HOLDCO, LLC
By:     /s/ Matthew Berger            
Name:  Matthew Berger
Title:    Authorized Signatory

Consented to by:
HSBC BANK USA, NATIONAL ASSOCIATION, 
as Administrative Agent
		
	By: 
	/s/ Keisha McLaughlin    

Authorized Signatory

HSBC BANK CANADA, as an Issuing Bank and a Lender

By:    /s/ Casey Coats        
Name:  Casey Coats
Title:     Managing Director, Global Banking

By:    /s/ My Le            
Name:  My Le
Title:     Director, Global Banking

BARCLAYS BANK PLC, as a Lender

By:    /s/ May Huang            
Name:  May Huang
Title:    Assistant Vice President
BANK OF AMERICA, N.A., as a Lender

By:    /s/ Maggie Halleland        
Name:  Maggie Halleland
Title:    Vice President

THE BANK OF NOVA SCOTIA, as an Issuing Bank and a Lender

By:    /s/ Matthew Hartnoll        
Name:  Matthew Hartnoll
Title:    Director

By:    /s/ Mathieu Leroux        
Name:  Mathieu Leroux
Title:    Associate Director

BANK OF MONTREAL, CHICAGO BRANCH, as a Lender

By:    /s/ Brian L. Banke        
Name:  Brian L. Banke
Title:    Managing Director

NATIXIS, NEW YORK BRANCH, as an Issuing Bank and a Lender

By:    /s/ Ahmet Ugurlu        
Name:    Ahmet Ugurlu
Title:    Executive Director

By:    /s/ Khallil Benzine        
Name:    Khallil Benzine
Title:    Executive Director

ROYAL BANK OF CANADA, as a Lender

By:    /s/ Frank Lambrinos        
Name:    Frank Lambrinos
Title:    Authorized Signatory
SUMITOMO MITSUI BANKING CORPORATION, as a Lender

By:    /s/ Koichi Nunami        
Name:    Koichi Nunami
Title:    Managing Director

SCHEDULE A

TO JOINDER AND FIRST AMENDMENT TO CREDIT AGREEMENT

	
				
	Name of Lender
	Type of Commitment
	Pro Rata Share (%)
	Pro Rata Share ($)

	HSBC Bank Canada
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.72

	Barclays Bank PLC
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Bank of America, N.A.
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Bank of Montreal
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	The Bank of Nova Scotia
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Natixis
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Royal Bank of Canada
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Sumitomo Mitsui Banking Corporation
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Wells Fargo Bank, National Association
	Revolving Loan Commitment
	11 1/9%
	$66,666,666.66

	Total
	 
	100%
	$600,000,000.00

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