Document:

scty-ex46_10.htm

 

Exhibit 4.6

 

SolarCity Corporation, as Issuer,

-and-

U.S. Bank National Association, as Trustee

 

 

One Hundred-and-Sixteenth SUPPLEMENTAL INDENTURE

Dated as of August 24, 2015

to

INDENTURE

Dated as of October 15, 2014

 

 

5.45% Solar Bonds, Series 2015/C92-15

 

 

 

 

 

	
 
	
TABLE OF CONTENTS
	
 

	
 
	
 
	
PAGE

	
ARTICLE 1
DEFINITIONS

	
SECTION 1.01
	
Scope of Supplemental Indenture
	
2

	
SECTION 1.02
	
Definitions
	
2

	
ARTICLE 2
ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES

	
 
	
 
	
 

	
SECTION 2.01
	
Title and Terms
	
3

	
SECTION 2.02
	
Depository Global Securities
	
3

	
SECTION 2.03
	
Payments
	
3

	
ARTICLE 3
SURVIVOR’S OPTION

	
 
	
 
	
 

	
SECTION 3.01
	
Survivor’s Option
	
3

	
 
	
 
	
 

	
ARTICLE 4
MISCELLANEOUS PROVISIONS

 

	
SECTION 4.01
	
Trustee Acceptance
	
5

	
SECTION 4.02
	
Governing Law
	
5

	
SECTION 4.03
	
Trust Indenture Act
	
5

	
SECTION 4.04
	
Execution in Counterparts
	
5

	
SECTION 4.05
	
Severability
	
5

	
SECTION 4.06
	
Appointment of Paying Agent, Security Registrar and Place of Payment
	
5

	
SECTION 4.07
	
Ratification of Original Indenture
	
6

	
EXHIBIT

	
Exhibit A
	
Form of Note
	
A-1

 

 

i

 

 

One Hundred-and-Sixteenth SUPPLEMENTAL INDENTURE, dated as of August 24, 2015 (the “Supplemental Indenture”), between SolarCity Corporation, a Delaware corporation (hereinafter called the “Company”), having its principal executive office located at 3055 Clearview Way, San Mateo, California, 94402, and U.S. Bank National Association, a national banking association duly organized and existing under the laws of the United States of America, as trustee (in such capacity, the “Trustee”), to the indenture, dated as of October 15, 2014, between the Company and the Trustee (as amended or supplemented from time to time in accordance with the terms thereof, the “Original Indenture”).

RECITALS OF THE COMPANY

WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide, among other things, for the issuance, from time to time, of the Company’s Securities, unlimited as to principal amount, in one or more series to be established by the Company under, and authenticated and delivered as provided in, the Original Indenture;

WHEREAS, Section 801(8) of the Original Indenture provides for the Company and the Trustee to enter into a supplemental indenture to the Original Indenture to provide for the issuance of and establish the forms and terms and conditions of Securities as permitted by Sections 201 and 301 of the Original Indenture;

WHEREAS, the Board of Directors and the Offering Committee thereof have duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture;

WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to establish a new series of its Securities to be known as its 5.45% Solar Bonds, Series 2015/C92-15 (the “Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided in the Original Indenture and this Supplemental Indenture;

WHEREAS, the Form of Note contemplated is to be substantially in the form hereinafter provided; and

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to make (i) this Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, in each case, have been performed, and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects.

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders of the Notes, as follows:

 

 

Article 1
DEFINITIONS

SECTION 1.01  Scope of Supplemental Indenture.  The changes, modifications and supplements to the Original Indenture effected by this Supplemental Indenture shall be applicable only with respect to, and shall only govern the terms of (and only the rights of the Holders and the obligations of the Company with respect to), the Notes, which may be issued from time to time, and shall not apply to any other Securities that may be issued under the Original Indenture (or govern the rights of the Holders or the obligations of the Company with respect to any other such Securities) unless a supplemental indenture with respect to such other Securities specifically incorporates such changes, modifications and supplements.  The provisions of this Supplemental Indenture shall supersede any corresponding or conflicting provisions in the Original Indenture.  If Notes are not authenticated on the Issue Date (as defined in Section 1.02 below), this Supplemental Indenture shall be null and of no effect.

SECTION 1.02  Definitions.  For all purposes of the Indenture, except as otherwise expressly provided or unless the context otherwise requires:

(i) the terms defined in this Article 1 shall have the meanings assigned to them in this Article 1 and include the plural as well as the singular;

(ii) all words, terms and phrases defined in the Original Indenture (but not otherwise defined herein) shall have the same meanings as in the Original Indenture;

(iii) all other terms used herein that are defined in the Trust Indenture Act, either directly or by reference therein, shall have the meanings assigned to them in the Trust Indenture Act;

(iv) all accounting terms not otherwise defined herein shall have the meanings assigned to them in accordance with generally accepted accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of this instrument; and

(v) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision.

“Company” has the meaning set forth in the first paragraph of this Supplemental Indenture.

“DTC” means The Depository Trust Company.

“Form of Note” shall mean the “Form of Note” attached hereto as Exhibit A.

“Indenture” means the Original Indenture, as originally executed and as supplemented from time to time by one or more indentures supplemental thereto, including this Supplemental Indenture, entered into pursuant to the applicable provisions of the Indenture, including, for all 

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purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern the Original Indenture and this Supplemental Indenture.

“Initial Notes” has the meaning specified in Section 2.01.

“Interest Payment Date” means February 15 and August 15 of each year, beginning on February 15, 2016.

“Issue Date” means September 3, 2015 or such other date as the Company may identify in a written notice to the Trustee.

“Note” or “Notes” has the meaning specified in the fourth paragraph of the recitals of this Supplemental Indenture, and shall include any Additional Notes issued pursuant to Section 2.01.

“Noteholder,” “Holder” or “holder” as applied to any Note, or other similar terms (but excluding the term “beneficial holder”), means any Person in whose name at the time a particular Note is registered.

“Original Indenture” has the meaning specified in the first paragraph of this Supplemental Indenture.

“Regular Record Date” for the interest payable on any Interest Payment Date means the fifteenth day prior to such Interest Payment Date (whether or not a Business Day).

“Stated Maturity” means, with respect to the payment of principal on the Notes, September 3, 2030.

“Supplemental Indenture” has the meaning specified in the first paragraph hereof.

Article 2
ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES

SECTION 2.01  Title and Terms. There is hereby established a series of Securities designated the “5.45% Solar Bonds, Series 2015/C92-15”.  The aggregate principal amount of the Notes shall not be limited and shall be initially authenticated and delivered from time to time upon delivery to the Trustee of the documents required by Section 303 of the Indenture.  The Notes shall be issued only in fully registered form, in denominations of $1,000 and any integral multiples thereof.  Up to $5,000,000 aggregate principal amount of Notes will be authenticated on the Issue Date (the “Initial Notes”).

The Company may, without the consent of the Holders of the Notes, hereafter issue additional Notes (“Additional Notes”) under the Indenture with the same terms and conditions, except for any difference in the issue price, Issue Date and interest accrued prior to the issue date of the Additional Notes, as the Initial Notes, in an unlimited aggregate principal amount.  Any such Additional Notes shall constitute a single series together with the Initial Notes for all purposes hereunder, including, without limitation, for purposes of any waivers, supplements or 

3

 

 

amendments to the Indenture requiring the approval of Holders of the Notes and any offers to purchase the Notes.

SECTION 2.02  Depository Global Securities.  The Notes initially shall be represented by one or more permanent Depository Global Securities and registered in the name of Cede & Co., the nominee of DTC.  The Form of Note shall be substantially as set forth in Exhibit A, which is incorporated into and shall be deemed a part of this Supplemental Indenture, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined to be necessary or appropriate by the Officers of the Company executing such Notes, as evidenced by their execution of the Notes.  Each Depository Global Security shall be duly executed by the Company and authenticated and delivered by the Trustee, and shall be retained by the Trustee, as custodian for DTC, at its Corporate Trust Office.  The aggregate principal amount of the Depository Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian, and of DTC or its nominee, as hereinafter provided.

SECTION 2.03  Payments.  The principal amount of Notes then Outstanding shall be payable at the Stated Maturity.  Interest on the Notes shall accrue at a rate of 5.45% per annum, from and including the Issue Date with respect to such Notes, or from the most recent date on which interest has been paid or duly provided for with respect to such Notes, to, but excluding, the next Interest Payment Date, until the principal thereof is paid or made available for payment.  Interest shall be payable in arrears on each Interest Payment Date, beginning on February 15, 2016, to the Persons in whose name a Note is registered at the Close of Business on the Regular Record Date immediately preceding the applicable Interest Payment Date.  If any Stated Maturity or Maturity of, or any other day on which a payment is due shall be a day which is not a Business Day, then such payment may be made on the next succeeding day that is a Business Day with the same force and effect as if made at the Stated Maturity or Maturity or on any such other payment date, as the case may be, and no interest shall accrue on the amount payable on such date or at such time for the period from and after such Stated Maturity, Maturity or other payment date, as the case may be, to the next succeeding Business Day.  Interest will be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any period shorter than a full semi-annual interest period will be computed on the basis of the number of days elapsed in a 180-day semi-annual period of six 30-day months. 

The Paying Agent shall (upon receipt of sufficient immediately available funds from the Company) pay the principal of and interest on any Note in immediately available funds to the registered holder thereof (which shall be DTC or its nominee or any other depository, in the case of Depository Global Securities).  All payments on the Notes will be made in US. Dollars or in such other coin or currency of the United States of America as of the time of payment is legal tender for the payment of public and private debts. 

Article 3
SURVIVOR’S OPTION

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SECTION 3.01  Survivor’s Option.  The Notes shall contain a provision that provides for the optional repayment of the Notes prior to their Stated Maturity, if requested by the authorized representative of the beneficial owner of those Notes (the “Representative”), following the death of the beneficial owner (a “Survivor’s Option”), so long as the Notes were owned by the beneficial owner or his or her estate at least six months prior to the request and certain documentation requirements are satisfied; provided, however, that if the terms of any such Note conflict with any provision of this Article 3, the terms of such Note shall govern.  Pursuant to the valid exercise of the Survivor’s Option, the Company shall repay any Note (or portion thereof) properly tendered for repayment by the Representative under the laws of the appropriate jurisdiction (including, without limitation, the personal representative or executor of the deceased beneficial owner or surviving joint owner with such deceased beneficial owner) at a price equal to 100% of the principal amount of the deceased beneficial owner’s beneficial interest in such Note plus accrued and unpaid interest to, but not including, the date of such repayment (or at a price equal to the amortized face amount for Original Issue Discount Securities on the date of such repayment), subject to certain limitations.  Any Note (or portion thereof) tendered pursuant to a valid exercise of the Survivor’s Option may not be withdrawn.

The Company has the discretionary right to limit the aggregate principal amount of Notes as to which exercises of the Survivor’s Option shall be accepted by the Company from the Representatives of all deceased beneficial owners in any calendar year to an amount equal to the greater of $1,000,000 or 1% of the principal amount of all the Notes outstanding as of the end of the most recent calendar year.  The Company also has the discretionary right to limit to $250,000 in any calendar year the aggregate principal amount of Notes as to which exercises of the Survivor’s Option shall be accepted by the Company from the Representative of any individual deceased beneficial owner of Notes in such calendar year.  The Company may also limit the exercise of the Survivor’s Option to principal amounts of $1,000 and integral multiples of $1,000.  Each of these limitations is referred to herein as a “Put Limitation.”

The death of a person holding a beneficial interest in a Note as a joint tenant or tenant by the entirety with another person, or as a tenant in common with the deceased holder’s spouse, will be deemed to be the death of the beneficial owner of the Note, and the entire principal amount of the Note so held shall be subject to repayment.  However, the death of a person holding a beneficial interest in a Note as tenant in common with a person other than such deceased holder’s spouse will be deemed to be the death of a beneficial owner only with respect to the deceased person’s interest in the Note, and only the deceased beneficial owner’s percentage interest in the principal amount of the Note will be subject to repayment to the estate of the deceased beneficial owner upon application of the applicable Representative.

The death of a person who, during his or her lifetime, was entitled to substantially all of the beneficial interests of ownership of a Note will be deemed to be the death of the beneficial owner of such Note for purposes of this provision, regardless of whether such beneficial owner was the registered holder of the Note, if such beneficial interest can be established to the satisfaction of the Trustee and the Company.  Such beneficial ownership interest will be deemed to exist in typical cases of nominee ownership, ownership under the Uniform Transfers to Minors Act or Uniform Gifts to Minors Act, community property or other joint ownership arrangements between spouses.  In addition, the beneficial ownership interest will be deemed to 

5

 

 

exist in custodial and trust arrangements where one person has all of the beneficial ownership interest in the Note during his or her lifetime.

Tenders of Notes (or portion thereof) pursuant to valid exercises of the Survivor’s Option shall be accepted in the order all such Notes are received by the Trustee, except for any Note (or portion thereof) the acceptance of which would contravene a Put Limitation, if applied.  If, as of the end of any calendar year, the aggregate principal amount of Notes (or portions thereof) that have been tendered pursuant to the valid exercise of the Survivor’s Option during such year has exceeded a Put Limitation, any exercise(s) of the Survivor’s Option with respect to Notes (or portions thereof) not accepted during such calendar year because such acceptance would have contravened such Put Limitation, if applied, shall be deemed to be tendered in the following calendar year in the order such Notes (or portions thereof) were originally tendered.  Any Note (or portion thereof) accepted for repayment pursuant to exercise of the Survivor’s Option shall be repaid on the first Interest Payment Date that occurs 30 or more calendar days after the date of acceptance. In the event that a Note (or any portion thereof) tendered for repayment pursuant to a valid exercise of the Survivor’s Option is not accepted, the Trustee shall deliver a notice, by first-class mail to the applicable Representative, that states the reason such Note (or portion thereof) has not been accepted for payment.

Subject to the foregoing, in order for a Survivor’s Option to be validly exercised, the Trustee and the Company must receive from the applicable Representative:  (i) a written request for repayment signed by such Representative, and such signature must be guaranteed by a member firm of a registered national securities exchange or of the Financial Industry Regulatory Authority, Inc. or a commercial bank or trust company having an office or correspondent in the United States or medallion guaranteed by a savings bank or credit union; (ii) as applicable, tender of the Note to be repaid; (iii) appropriate evidence that (A) the deceased was the beneficial owner of the Note at the time of death and the interest in such Note was owned by the deceased beneficial owner or his or her estate at least six months prior to the request for repayment, (B) the death of such beneficial owner has occurred and the date of such death and (C) such Representative has authority to act on behalf of the deceased beneficial owner; (iv) if applicable, a properly executed assignment or endorsement; (v) if the interest in such Note is held by a nominee, trustee, custodian or other person in a similar capacity of the deceased beneficial owner, a certificate satisfactory to the Trustee and the Company from such nominee, trustee, custodian or similar person attesting to the deceased’s beneficial ownership in such Note; (vi) tax waivers and such other instruments or documents that the Trustee and the Company reasonably require in order to establish the validity of the beneficial ownership of the Notes and the claimant’s entitlement to payment; and (vii) any additional information the Trustee or the Company reasonably requires to evidence satisfaction of any conditions to the exercise of the Survivor’s Option or to document beneficial ownership or authority to make the election and to cause the repayment of the Notes.  

For Notes represented by a Depository Global Security, the Depository or its nominee shall be the holder of such Note and therefore shall be the only entity that can exercise the Survivor’s Option for such Note.  To obtain repayment pursuant to exercise of the Survivor’s Option with respect to such Note, the Representative must provide to the broker or other entity through which the beneficial interest in such Note is held by the deceased beneficial owner:  (i) a written instruction to such broker or other entity to notify the Depository of the Representative’s 

6

 

 

desire to obtain repayment pursuant to exercise of the Survivor’s Option; (ii) the documents referenced above in the preceding paragraph; (ii) a certificate satisfactory to the Trustee and the Company from such broker or other entity stating that it represents the deceased beneficial owner; and (iii) a detailed description of the Note, including CUSIP, interest rate, and Maturity Date.  Such broker or other entity shall be responsible for disbursing any payments it receives pursuant to exercise of the Survivor’s Option to the appropriate Representative.

Subject to the Company’s right hereunder with respect to any Put Limitation, and provided that the requisite items above are in fact received by the Trustee, the Trustee shall be entitled to fully rely, and shall have no liability in relying, on the information supplied by a broker, the Representative or other entity with respect to the above and/or in processing the exercise of the Survivor’s Option.  All questions as to the eligibility or validity of any exercise of the Survivor’s Option will be determined by the Company, in its sole discretion, which determination shall be final and binding on all parties, and the Trustee shall be entitled to fully rely upon the Company’s determination as to the eligibility or validity of any exercise of a Survivor’s Option and shall not be liable with respect to the acceptance or rejection of any exercise of the Survivor’s Option.

Article 4
MISCELLANEOUS PROVISIONS

SECTION 4.01  Trustee Acceptance.  The Trustee has accepted the supplement of the Original Indenture effected by this Supplemental Indenture and agrees to execute the trust created by the Original Indenture as hereby supplemented, but only upon the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee, and without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect of any of the recitals or statements contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (a) the validity or sufficiency of this Supplemental Indenture or any of the terms or provisions hereof, (b) the proper authorization hereof by the Company by corporate action or otherwise, and (c) the due execution hereof by the Company.

SECTION 4.02  Governing Law.  This Supplemental Indenture and the Notes shall be governed by, and construed in accordance with, the laws of the State of New York.

SECTION 4.03  Trust Indenture Act.  This Supplemental Indenture will be subject to, and governed by, the provisions of the Trust Indenture Act that are required to be part of this Supplemental Indenture and shall, to the extent applicable, be governed by such provisions.

SECTION 4.04  Execution in Counterparts.  This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.

SECTION 4.05  Severability.  In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

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SECTION 4.06  Appointment of Paying Agent, Security Registrar and Place of Payment.  The Company initially appoints the Trustee to act as Paying Agent and Security Registrar for the Notes, subject to and in accordance with the terms and conditions set forth herein and in the Original Indenture.  The Trustee shall have all of the rights, benefits and immunities of a Paying Agent and Security Registrar as set forth herein and therein.  The Company initially designates the Corporate Trust Office of the Trustee as the Place of Payment for the Notes and the office or agency described in Section 902 of the Original Indenture and initially designates DTC as the Depositary for the Notes.  The Company may change the Paying Agent or the Security Registrar without prior notice to or consent of the Holders, and the Company or any of its subsidiaries may act as Paying Agent or Security Registrar.

SECTION 4.07 Ratification of Original Indenture.  The Original Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Original Indenture in the manner and to the extent herein and therein provided.  For the avoidance of doubt, each of the Company and each Holder of the Notes, by its acceptance of such Notes, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the Trustee and the Paying Agent under the Original Indenture are deemed to be incorporated herein, and shall be enforceable by the Trustee and the Paying Agent hereunder, as if set forth herein in full.

U.S. Bank National Association hereby accepts the trusts in this Supplemental Indenture declared and provided, upon the terms and conditions herein above set forth.

[Remainder of the page intentionally left blank]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the day and year first above written.

SOLARCITY CORPORATION

		
	
By:
	
/s/ Brad Buss

	
 
	
Name: Brad Buss

	
 
	
Title: Chief Financial Officer

 

U.S. BANK NATIONAL ASSOCIATION, as Trustee 

		
	
By:
	
/s/ K. Wendy Kumar

	
 
	
Name: K. Wendy Kumar

	
 
	
Title: Vice President

 

 

 

 

Exhibit A

Form of Note

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO SOLARCITY CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

A-1

FORM OF GLOBAL NOTE

 

SOLARCITY CORPORATION
5.45% Solar Bonds, Series 2015/C92-15

	
 
	
 
	
CUSIP:  83417KDV7

	
 
	
 
	
 

	
No. 1
	
 
	
Principal Amount (US)

	
 
	
 
	
$__________

	
 
	
 
	
(as revised by the Schedule of Increases and Decreases in Global Note attached hereto)

 

SolarCity Corporation, a Delaware corporation (herein called the “Company,” which term includes any successor Person under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to CEDE & CO., the registered Holder hereof, or registered assigns, the principal sum of ____________________________ Dollars ($_______) (as revised by the Schedule of Increases and Decreases in Global Note attached hereto), on September 3, 2030 (or such portion thereof as may be payable on the date of repayment by the Company prior to the Stated Maturity pursuant to the valid exercise of the Survivor’s Option) at the office or agency of the Company maintained for that purpose in accordance with the terms of the Indenture, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, semiannually, on February 15 and August 15 of each year (each, an “Interest Payment Date”), commencing on February 15, 2016, on said principal sum at said office or agency, in like coin or currency, at the rate per annum of 5.45%, from and including the most recent Interest Payment Date in respect of which interest has been paid (or, with respect to the initial Interest Payment Date for any Note, or portion thereof, from and including the date of issuance of the Note, or portion thereof).  If any Stated Maturity or Maturity of, or any other day on which a payment is due shall be a day which is not a Business Day, then such payment may be made on the next succeeding day that is a Business Day with the same force and effect as if made at the Stated Maturity or Maturity or on any such other payment date, as the case may be, and no interest shall accrue on the amount payable on such date or at such time for the period from and after such Stated Maturity, Maturity or other payment date, as the case may be, to the next succeeding Business Day.  Interest will be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any period shorter than a full semi-annual interest period will be computed on the basis of the number of days elapsed in a 180-day semi-annual period of six 30-day months.

Reference is made to the further provisions of this Note set forth on the reverse hereof.  Such further provisions shall for all purposes have the same effect as though fully set forth at this place.

This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Trustee or other duly authorized Authenticating Agent under the Indenture.

A-2

IN WITNESS WHEREOF, the Company has caused this Note to be duly executed.

Dated: 

	
 
	
 
	
SOLARCITY CORPORATION

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
By:
	
 

	
 
	
 
	
 
	
Name:  Brad Buss

	
 
	
 
	
 
	
Title:  Chief Financial Officer

 

 

	
ATTEST:
	
 

	
 
	
 

	
 
	
 

	
By
	
 
	
 

	
 
	
Name:  Seth Weissman
	
 

	
 
	
Title:  Secretary
	
 

 

 

A-3

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes referred to in the within-mentioned Indenture. 

U.S. BANK NATIONAL ASSOCIATION 
as Trustee

	
By:
	
 
	
 

	
 
	
Authorized Signatory 
	
 

 

A-4

FORM OF REVERSE OF NOTE
SOLARCITY CORPORATION
5.45% Solar Bonds, Series 2015/C92-15

This note is one of a duly authorized issue of notes of the Company, designated as its “5.45% Solar Bonds, Series 2015/C92-15” (herein called the “Notes”), issued under and pursuant to an Indenture, dated as of October 15, 2014 (the “Original Indenture”), between the Company and U.S. Bank National Association, as trustee (in such capacity, the “Trustee”), as supplemented with respect to the Notes by the One Hundred-and-Sixteenth Supplemental Indenture, dated as of August 24, 2015 (the “Supplemental Indenture,” and together with the Original Indenture, the “Indenture”), between the Company, as issuer, and the Trustee, as trustee and as the authenticating agent, paying agent and security registrar (herein called the “Authenticating Agent,” “Paying Agent” and “Security Registrar”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, Authenticating Agent, Paying Agent, Security Registrar, the Company and the Holders of the Notes.  Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in the Indenture.

This Note shall be repayable at the option of the Holder prior to its Stated Maturity if properly exercised pursuant to the Survivor’s Option.  In the event of repayment of a Note, in whole or in part, annotation of such repayment shall be made by the Trustee on the Schedule of Increases and Decreases in Global Note.

If an Event of Default (other than an Event of Default specified in clauses (4), (5) or (6) of Section 501 of the Indenture) occurs and is continuing with respect to the Notes, then the Trustee, or the Holders of not less than 25% in aggregate principal amount of the Notes may declare the principal of all the Notes, and accrued and unpaid interest, if any, and premium, if any, thereon to be due and payable immediately.  If an Event of Default specified in clauses (4), (5) or (6) of Section 501 occurs, then the principal and accrued and unpaid interest, if any, and premium, if any, on all the Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of the Notes. 

Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal amount of the Notes at the time Outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default, subject to exceptions set forth in the Indenture.  Upon any such waiver, said default shall for all purposes of this Note and the Indenture be deemed to have been cured and not to be continuing, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time Outstanding, to execute supplemental indentures to modify provisions of the Indenture, subject to exceptions permitting the modification of the Indenture without the consent of any Holder of Notes or requiring the consent of each Holder of a Note affected by such modification all as set forth in the Indenture.

A-5

The Notes are issuable in fully registered form, without coupons, in denominations of $1,000 principal amount and any integral multiples thereof.  The Notes may be exchanged for a like aggregate principal amount of Notes of any other authorized denominations, on the terms and subject to the conditions and limitations set forth in the Indenture.

The Company, the Trustee, Authenticating Agent, Paying Agent and Security Registrar may deem the registered holder to be, and may treat the registered holder as, the absolute owner of this Note (whether or not amounts under this Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Security Registrar), for the purpose of receiving payment of or on account of the principal of, and interest on this Note and for all other purposes; and neither the Company or the Trustee nor any Authenticating Agent, Paying Agent or any Security Registrar shall be affected by any notice to the contrary.  All such payments so made to the registered holder for the time being, or upon the registered holder’s orders, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for monies payable upon this Note.

No recourse for the payment of the principal of or interest on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any supplemental indenture or in any Note, or because of the creation of any indebtedness represented hereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent, officer, director or subsidiary, as such, past, present or future, of the Company or any of the Company’s subsidiaries or of any successor thereto, either directly or through the Company or any of the Company’s subsidiaries or of any successor thereto, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as consideration for, the execution of the Indenture and the issue of this Note.

In the case of any conflict between the provisions of this Note and the Indenture, the provisions of the Indenture shall control. The Indenture and this Note shall be governed by, and construed in accordance with, the laws of the State of New York.

A-6

 

Schedule of Increases and Decreases in Global Note

 

SOLARCITY CORPORATION
5.45% Solar Bonds, Series 2015/C92-15

The following increases or decreases in this Note have been made:

 

	
Date of Increase or Decrease
	
Amount of Increase in Principal Amount of This Note
	
Amount of Decrease in Principal Amount of This Note
	
Principal Amount of This Note Following Such Increase or Decrease
	
Signature of Authorized Signatory of Trustee or Security Custodian

	
 
	
 
	
 
	
 
	
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A-7

ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:

 

________________________________________________________________________

 

________________________________________________________________________

(Insert assignee’s social security or tax identification number)

 

 

________________________________________________________________________

 

________________________________________________________________________

 

________________________________________________________________________

(Insert address and zip code of assignee)

 

and irrevocably appoints ____________________________ as agent to transfer this Note on the Security Register.  The agent may substitute another to act for him or her.

 

 

		
	
Dated: 
	
Signature:

	
 
	
 

	
 
	
Signature Guarantee:

 

(Sign exactly as your name appears on the other side of this Note)

 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

 

A-8

 

FORM OF NOTICE OF ELECTION TO EXERCISE SURVIVOR’S OPTION

 

By checking this box, the undersigned represents that:  (1) it is the authorized representative of the deceased beneficial owner identified below; (2) (a) the deceased was the beneficial owner of the principal amount of the SolarCity Corporation 5.45% Solar Bonds, Series 2015/C92-15 (the “Notes”) listed below at the date of his or her death and the Notes have been held by the deceased beneficial owner or his or her estate for at least six-months, (b) the death of the beneficial owner listed below has occurred and (c) the undersigned representative has authority to act on behalf of the deceased beneficial owner; (3) it hereby elects to tender the principal amount of Notes set forth below for repayment by SolarCity Corporation for a price equal to 100% (or such lesser amount as may be accepted for payment) of the principal amount of the beneficial interest of the deceased owner plus accrued interest to the date of repayment; and (4) it acknowledges that SolarCity Corporation’s acceptance of the election submitted hereby is subject to, in SolarCity Corporation’s sole discretion, certain aggregate limitations on the amount of Notes that shall be accepted by SolarCity Corporation from authorized representatives of all deceased beneficial owners in any calendar year.

 

The deceased beneficial owner held the principal amount of Notes to be tendered as (check one):

 

___ a sole beneficial owner, a joint tenant or a tenant by the entirety with another or others, a tenant in common with a spouse or an individual entitled to substantially all of the beneficial interest

___ a tenant in common with another (other than a spouse).  If applicable, please provide the amount of interest held by the deceased beneficial owner.  $_______________________

 

Full Name of deceased beneficial owner (please attach death certificate):

 

_____________________________________________________________________________

 

 

If applicable, full name of the nominee of the deceased beneficial owner (please attach a certificate attesting to the deceased’s ownership of the beneficial interest in the notes):

 

_____________________________________________________________________________

 

 

Signature Guarantee: ___________________________________________________________

 

Participant in a recognized Signature Guarantee

Medallion Program (or other signature guarantor

program reasonably acceptable to the Trustee and SolarCity Corporation)

 

Principal amount of Notes being tendered for repayment (only principal amounts of $1,000 and integral multiples of $1,000):  $__________________________________________________________

A-9

 

SolarCity Corporation may, in its sole discretion, limit the aggregate principal amount of Notes that shall be accepted by it from authorized representatives of all deceased beneficial owners in any calendar year to an amount equal to the greater of $1,000,000 or 1% of the principal amount of all the Solar Bonds outstanding as of the end of the most recent calendar year.  SolarCity Corporation also has the discretionary right to limit to $250,000 in any calendar year the aggregate principal amount of Solar Bonds as to which exercises of the Survivor’s Option shall be accepted by us from the authorized representative of any individual deceased beneficial owner of Solar Bonds in such calendar year.  Additional tender limitations and terms of acceptance are also applicable and are more fully described in the One Hundred-and-Sixteenth Supplemental Indenture dated August 24, 2015 and the Program Supplement dated March 9, 2015 to the Prospectus dated October 15, 2014.  The Trustee, on behalf of and at the direction of SolarCity Corporation, has the right to reject tenders of Notes if a properly executed election is not submitted or if it fails to receive any tax or additional information that is required to document adherence to any conditions precedent, ownership or authority to make the election.

THIS NOTICE OF ELECTION MAY NOT BE WITHDRAWN

 

 

A-10Exhibit

EX 10.16.31+

	
		
	 TERRITORY LICENSE NO. 11

	Quick Reference Title:
	[*****] Route Guidance Applications (for [*****])

	Pursuant to the Data License Agreement between HERE and Client dated as of the effective date identified therein and reiterated below (“Agreement”), HERE and Client hereby agree to the following additional terms and conditions.  For purposes of this TL, “HERE” shall be deemed to also include HERE Europe B.V., which agrees by signing below to be bound by the terms and conditions contained in the Agreement. This TL shall additionally consist of any exhibits and schedules attached hereto.  Capitalized terms not otherwise defined in the Agreement or in this TL (including any exhibits, schedules or attachments hereto) shall have the meanings set forth in Section VII below.

	Client:
	Telenav, Inc.

	Effective Date of Data License Agreement:
	December 1, 2002

	Effective Date of Territory License:
	Date of last signature below

	Territory License Term

	The term of this TL shall commence on the Effective Date of this TL and continue for a period of fifteen (15)  years from the Effective Date, unless terminated as provided in the Agreement (“TL Term”) provided, however that notwithstanding anything to the contrary in the Agreement, in the event the TL Term conflicts with the term of the Agreement, the TL Term shall control, but only with respect to this specific TL, and the term of the Agreement shall continue for the duration of this TL Term.  At the time that [*****] ceases production of [*****], the license rights set forth herein shall be limited, for the duration of the TL Term, to (i) compiling updated versions of the Data made available by HERE and (ii) distributing such updated Compiled Data in the form of update Copies or a master copy of updated Compiled Data to the applicable party to which appropriate rights have been granted to distribute update Copies (“Update License Rights”).  Notwithstanding the foregoing, if [*****] exercises its option to renew the agreement between Client and [*****] for one or more additional [*****], Client shall provide written notice to HERE and all of the license rights set forth in this TL shall continue to apply for such [*****] until such time that [*****] no longer exercises such option.  In such event, the Update License Rights shall automatically extend for a period of ten (10) years following the time at which [*****] ceases production of the last [*****] for which [*****] has exercised its option to renew.  

Both parties have executed this Agreement by their duly authorized officers as of the Effective Date.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 1 OF 1
    

EX 10.16.31+

	
			
	HERE NORTH AMERICA, LLC
	Telenav, Inc.

	By: /s/ Jeannie Lee Newman
	By: /s/ Michael Strambi

	Name: Jeannie Lee Newman
	Name:  Michael Strambi

	Title:  Senior Legal Counsel
	Title:  Chief Financial Officer

	Date: 4/1/15
	Date: 4/3/15

	HERE NORTH AMERICA, LLC
	 
	 

	By: /s/ Lori Bellows
	 
	 

	Name: Lori Bellows
	 
	 

	Title: Director
	 
	 

	Date: 4/1/15
	 
	 

	HERE EUROPE B.V.
	 
	 

	By: /s/ P.W.A.M. van Hutzen
	 
	 

	Name: P.W.A.M. van Hutzen
	 
	 

	Title: Sr. Mgr. Product Release
	 
	 

	Date: 2 APR 2015
	 
	 

	HERE EUROPE B.V.
	 
	 

	By: /s/ F.M. van Haaren
	 
	 

	Name: F.M. van Haaren
	 
	 

	Title: Managing Director
2 APR 2015
	 
	 

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 2 OF 2
    

EX 10.16.31+

	
	
	TERMS AND CONDITIONS

		
	I.
	Territories

North America Territory (consisting of the United States, Canada and Mexico)
Central and South America Territory (consisting of Mexico, Brazil, Argentina, Chile, Venezuela, Colombia, Peru, Uruguay, Martinique, Guadeloupe, French Guiana, Cayman Islands, The Bahamas, Jamaica, Dominican Republic and Ecuador)
Europe Territory (consisting of Eastern Europe and Western Europe as further defined below)
Middle East Territory (consisting of Oman, Qatar, Jordan, Bahrain, Saudi Arabia, Kuwait, United Arab Emirates, Lebanon and Egypt)
Australia/New Zealand Territory (consisting of Australia and New Zealand)
Turkey Territory 

As of the Effective Date of this TL, “Eastern Europe” means the following countries:  Albania, Belarus, Bosnia & Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, and Ukraine.    
As of the Effective Date of this TL, “Western Europe” means the following countries:  Andorra, Austria, Belgium, Denmark, Eire (Republic of Ireland), Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland, Guernsey, Iceland, Italy/Vatican City, Jersey, Liechtenstein, Luxembourg, Malta, Man, Monaco, Norway, Portugal, San Marino, Spain, Sweden, Switzerland, The Netherlands, and United Kingdom. 
During the TL Term, if HERE releases a HERE Map for commercial use for one or more additional countries in Europe (i.e., countries that are not identified above), and the standard pricing made available by HERE includes such additional country(ies) in the same pricing bundle as the Europe countries identified above, then such additional country(ies) shall be deemed to be included in the Europe Territory for purposes of this TL for no additional fee.  Upon the commercial release of Data for any such additional country in Europe, HERE shall notify Client about whether the Data for such country is included in the scope of this TL in accordance with the foregoing and, if so, whether there are any supplier requirements associated with such Data (e.g., supplier copyright notices).  For purposes of the foregoing, “HERE Map” means the non-navigable or navigable geographic map data released by HERE for all or any portion of a country for which HERE has completed its specification and verification procedures.
		
	II.
	Data Content

The Data for each Territory consists of (i) Base Map Data and (ii) any Additional Content, and (iii) Add-Ons, each as further described below.  HERE shall make available to Client the Data for those countries in the Territory that have been generally released by HERE as of the Effective Date of this TL as well as updated versions of the Data made available by HERE during the TL Term for use in the type of Applications authorized hereunder.  Data for certain regions or areas of the Territory may not be completed and/or may not be produced within the TL Term, and will only be available hereunder upon general release by HERE following completion. Client may request that HERE deliver Data to Client for additional countries in the Territory that are generally released by HERE during the TL Term and HERE shall notify Client if additional terms and conditions apply to such Data. By using the Data after receipt of any such notice from HERE, Client shall be deemed to be bound by such terms and conditions, which are hereby incorporated by reference to be part of this TL.
		
	A.
	Base Map Data.  “Base Map Data” means, as it relates to any particular country, the standard geographic map data (i.e., not including Additional Content) as and when generally released for commercial use by HERE for such country or portion thereof and which is referred to (and further described) in the applicable standard product documentation provided by HERE as the “Base Map” for that country or portion thereof.  

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 3 OF 3
    

EX 10.16.31+

For purposes of determining which features and attributes are deemed to be “Base Map Data” and covered by the License Fees in Exhibit A, a description of such features and attributes is set forth in the then-current Attribute Overview and Usage Guide (or equivalent document) made available to Client as part of the Customer Technical Reference Guide.  HERE may update the list of features and attributes included in “Base Map Data” but shall not reclassify any “Base” attributes as “Premium”.  In the event that HERE violates the foregoing, Client shall have the right to continue using such attribute as part of the “Base Map Data” licensed hereunder and shall not be obligated to pay any incremental amount associated with such use for the duration of the TL Term.  
		
	B.
	Additional Content.  “Additional Content” means Data licensed under this TL in addition to Standard Data (as defined above) as such Data is further described at the URL http://corporate.navteq.com/additional_content_descriptions.html.  Additional Content shall be subject to the terms and conditions in such URL and the applicable fees described in Section V(A) below.  HERE reserves the right to discontinue Additional Content upon reasonable notice to Client; provided, however, that the last release of any discontinued Additional Content may be included in any Copies distributed thereafter.  Additional Content is not available on a standalone basis and may be licensed and used in conjunction with Data only.

		
	C.
	Add-Ons.  “Add-Ons” means additional content generally released by HERE from time to time for which HERE does not charge, in its sole discretion, additional license fees.  HERE shall be under no obligation to release such additional content.

		
	III.
	Application

Applications licensed under this TL shall consist solely of Route Guidance Applications and shall not include any Excluded Applications.  
For the purposes of the foregoing, the following definitions apply:
		
	A.
	“Route Guidance Application” means an Embedded Application that uses Data solely to provide and/or produce information solely in connection with one or more of the functions of (a) navigation, (b) routing or route guidance, and (c) positioning.  “Embedded Application” means non-server computer devices developed by or for Client (including, without limitation, proprietary computer hardware platforms developed by or for Client and/or computer software programs developed by or for Client) distributed to End-Users for their own internal business and personal use and which use resident Copies, consisting of Data solely for a Territory and on  physical storage media that is included in a [*****] solely to provide information to End-Users.  For purposes of clarity, “internal business use” shall be deemed to include, but not be limited to, use by rental car companies and their rental car customers.

		
	B.
	“[*****] Route Guidance Application” means a Route Guidance Application developed by or for Client and sold or otherwise distributed to [*****] (“[*****]”) for installation in [*****] sold in countries in the Territories licensed under this TL, which (i) uses the Data and Additional Content set forth under Exhibit A in accordance with [*****] of this TL; and (ii) is capable of determining [*****] and/or  enabling [*****] or [*****] functionality.

		
	C.
	"Excluded Applications" means any use of the Data in a manner not expressly authorized under this TL or otherwise mutually agreed upon between the parties, including but not limited to use of the Data (i) for server-based applications or with server-based applications (other than server-based applications which are accessed to deliver additional content to the device for use in the Route Guidance Application); (ii) for or with fleet management, dispatch or similar applications; (iii) for or with geomarketing applications (i.e., an application that analyzes and displays geographic, demographic, census and behavioral data to assist End-Users in understanding and modeling relevant business data and making business decisions, including, without limitation: (a) marketing analysis and segmentation, (b) customer prospecting and analysis, (c) sales territory analysis and definition or (d) distribution network site selection); (iv) for, or in connection with, any systems or functions for automatic or autonomous control of vehicle behavior, including, for example, systems or functions for the control of vehicle speed, braking, suspension, fuel, emissions, headlights, stability, drive train management, visibility enhancement and steering; or (v) for or with a software application involving a predefined set of rules and goals 

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 4 OF 4
    

EX 10.16.31+

built for End-User participation, focused primarily on competition and/or amusement (“Game”), that uses Data in the operation of the Game.
In addition, to the extent that Client has another TL under which Client is licensed for applications (“Other Applications”) that would otherwise fall within the definition of Applications under this TL, such Other Applications shall be excluded from the license granted under this TL. 
		
	IV.
	Licensed Use

The pricing and associated terms set forth in this TL shall apply only with respect to the use and distribution of Copies of Compiled Data to [*****] or a third party designated by [*****] to be further distributed for use in Route Guidance Applications to be installed in [*****] by [*****] or its subsidiaries (“[*****]”) with [*****] and any subsequent [*****] for which [*****] has exercised its option to renew in accordance with the “Territory License Term” provision on page 1 of this TL, subject to the terms and conditions of this TL and the Agreement.  Such use of the Data by Client shall be limited to
		
	A.
	Compiling any portion of the Data (“Compiled Data”) into Client’s own proprietary data format (which shall not include third party or public domain formats, unless otherwise mutually agreed upon between the parties) and, using the most current version of Data delivered by HERE to Client (except as otherwise required by [*****] and Client’s development schedule), making copies of the Compiled Data for any portion of a single Territory either stored on physical storage media or in the form of electronic files suitable for transmission to an End-User and on physical storage media that is included in [*****] (collectively, “Copies”);  and

		
	B.
	Distributing such Copies of Compiled Data to [*****] or a third party designated by [*****] for further distribution to End-Users (in the case of electronic files by transmitting and storing the same directly onto physical storage media that is included in [*****]), solely for the End-Users’ own internal business and personal use with the Application.  Client shall use commercially reasonable efforts to enforce the terms and conditions of its distribution agreement with [*****] and/or a third party designated by [*****], which shall include the obligation for [*****] and/or a third party designated by [*****] to comply with the applicable terms and conditions set forth herein.  Notwithstanding the foregoing, the Compiled Data may not be distributed to any HERE competitor, including [*****].  For sake of clarity, the foregoing restriction shall not restrict employees of a HERE competitor, including [*****], form using the Data in a Permitted Application licensed to such employees for their personal use.

		
	V.
	Fees to HERE.  

		
	A.
	License Fees.  License fees hereunder consist of the base license fees applicable to the Base Map Data for the applicable Territory (“Base License Fees”), combined with the amounts due for any Additional Content that is made accessible for use in the Application (“Additional Content Fees”).  For the avoidance of doubt, the pricing for each Territory in the tables in Exhibit A reflects the total amount due to HERE for each Copy, after combining the Base License Fees and the applicable Additional Content Fees (collectively, the “License Fees”).  The pricing set forth in Exhibit A is expressly conditioned on compliance with the requirements set forth in Section VII(A) and VII(B) of this TL (i.e., Copy Protection and [*****]). 

		
	B.
	License Fee Reports & Due Dates.   License Fee reports for Copies distributed in each calendar month are due by the [*****] day of the following calendar month (e.g., the fee report for [*****] is due by [*****]).  Following receipt of such report, HERE shall invoice Client for the amounts due.  In addition, Client shall include in its License Fee reports the following information by separate line items: (i) the number of [*****] distributed in each Territory;  (ii) the Application  included in each [*****]; and (iii) the Data used in such Application for such [*****] distributed in the applicable Territory.  License Fees shall be due and paid by the [*****] day following the end of the calendar month for which the License Fee report is provided (e.g., license fees for [*****] are due by [*****]).

In the event Client is unable to provide the License Fee reports by the [*****] day of the applicable calendar month for which such report is due because [*****] has not provided information to Client in order for Client to provide such License Fee report, Client shall be granted an additional [*****] days to provide such License Fee report provided that Client uses good faith efforts to procure such information from [*****].  In the event 

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 5 OF 5
    

EX 10.16.31+

that the reporting has not been procured from [*****] by the payment due date, Client shall use reasonable methods to estimate the License Fee report and provide HERE with such calculations.  Any differences between (i) the estimated amounts reported and paid and (ii) the actual amounts will be reconciled and invoiced/refunded within [*****] days of receipt of the actual reported amounts.
Client shall use commercially reasonable efforts to provide HERE with non-binding forecasts for [*****], but only to the extent that Client receives such forecasts from [*****].
		
	C.
	Currency.  License Fees hereunder shall be paid in U.S. Dollars.

		
	VI.
	End-User Terms.  Attached as Exhibit B.  Except as otherwise agreed by the parties, in all instances where the Application uses, accesses, reflects or relies upon any portion of the Data to deliver information to End-Users, Client shall provide End-Users with a copy of the End-User Terms and shall provide conspicuous notice to End-Users prior to their use of, or access to, any portion of the Data that their use thereof is subject to the End-User Terms.  Notwithstanding any termination or expiration of the Agreement or this TL, an End-User’s right to use a Copy of the Compiled Data with the Application under the Agreement and this TL shall continue so long as such End-User’s use of the Application is in compliance with all terms and conditions of Client’s then current end user license agreement for the Application.

		
	VII.
	Additional Provisions.

		
	A.
	Copy Protection.  Each Copy must include a state of the art solution for either (a) preventing copying of content of the Copy, whether by End-Users, Distributors or otherwise, onto physical storage media or via transfer over the Internet or other electronic communication means, or (b) preventing use of the Copy other than by a specifically authorized End-User or End-User device (e.g., using lock/unlock keys).  Prior to distributing Copies, Client shall provide to HERE such information as reasonably requested by HERE to evaluate the efficacy of the copy protection solution.

		
	B.
	[*****].  Client has been informed by HERE that the pricing included in HERE’s quotation to [*****] was expressly subject to a condition under which HERE would be treated [*****]  for use in [*****].  HERE acknowledges that it has agreed to [*****] such condition from this TL based solely on the fact that [*****] agreed to [*****] such requirement in the [*****] provided to HERE.

		
	C.
	Supplier Terms.  The Data provided hereunder is subject to supplier requirements and restrictions, which currently include those set forth in Exhibit C hereto.

		
	D.
	HERE Marks & Legends. For purposes of this TL, Client's obligations under the Agreement to display HERE Marks & Legends shall be satisfied as follows: Client shall include HERE Marks and the applicable HERE copyright notice (as specified in the HERE Identity Guidelines) and third party copyright and similar notices and legends (as specified in the Agreement, the HERE Identity Guidelines and/or otherwise by HERE) in the Route Guidance Application and/or owner’s manual, or such other placement of the HERE Marks & Legends as may be mutually agreed by the parties, but in all cases subject to [*****] requirements.

		
	E.
	No [*****].  No licenses or other rights are granted hereunder in connection with any [*****] related to [*****] ("[*****]").  [*****] shall be granted solely pursuant to a separate [*****] between the parties.

		
	F.
	[*****] and [*****]. Client may [*****] to [*****] and when such a [*****] is determined, Client may supplement the [*****] with [*****]; provided that in all cases, Client will not [*****] any existing value or attribute of  a [*****] when such attribute contains any value. Such [*****] may include [*****] not available from [*****] or a [*****] to acquire [*****]. For the avoidance of doubt, when [*****] and [*****] have attributes, Client will always use the [*****] of the [*****]. If a [*****] is null, then Client may [*****] if the [*****] contains [*****] for the attribute. If [*****] does not [*****] to any [*****] then Client may [*****] the [*****].  In addition, subject to Section IV (“Licensed Use”) of this TL, Client may [*****] using the Data for [*****] and [*****] (e.g. [*****]).

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 6 OF 6
    

EX 10.16.31+

		
	VIII.
	Definitions.

		
	A.
	“[*****]” means functionality that enables a [*****] Route Guidance Application for, or in connection with, any systems or functions for [*****]  of [*****], including, for example, systems or functions for the [*****] of [*****] and [*****].

		
	B.
	“Customer Technical Reference Guide” means the technical product specifications and documentation that make up the Customer technical Reference Guide that is made available to Client through the HERE B2B Download Center.

		
	C.
	“HERE B2B Download Center” means the on-line data delivery service made available to Client by HERE on a 24x7 basis (except for downtime due to system maintenance) and through which HERE makes Data and related documentation available for download by Client.

		
	D.
	“[*****]” means a [*****] method and system for [*****] the [*****] and other [*****], based on [*****], of [*****] on the [*****] for some [*****] (typically [*****]) and [*****] of [*****] and other [*****]  of interest such as [*****] and others.

		
	E.
	“[*****]” means functionality that enables a [*****] Route Guidance Application to provide [*****] regarding [*****] to the End User such as [*****], but which does not provide [*****] functionality.

		
	F.
	“Multi-Year Annual Copy Subscription” means that in addition to the distribution of the initial Copy distributed to an End-User with an Application (the “Initial Copy”), Client obligates itself to provide Update Copies to the same End-User on an annual basis beginning in the [*****] annual period following distribution to the End-User of the Initial Copy and continuing for up to [*****] annual periods (i.e., “[*****]”) thereafter. Multi-Year Annual Copy Subscriptions are automatically included in the Application price, and thus automatically provided, with respect to all units of a product line of an Application, and for which the End-User cannot opt out.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 7 OF 7
    

EX 10.16.31+

	
	
	EXHIBIT A
PRICING

I.    License Fees per Copy for Route Guidance Applications.

Client shall pay HERE the License Fee per Copy in connection with Route Guidance Applications set forth in the applicable table below for each Copy of the Data distributed hereunder containing all or any portion of the Data identified in the Content Bundle in the table below.  The applicable License Fee for each Copy shall be determined based on the Territory of Data contained in such Copy.  For sake of clarity, Route Guidance Applications may not use all or any portion of the Data identified in a Content Bundle (including [*****] and [*****]) for enabling [*****] or [*****] unless the License Fees per Copy under Section II are paid by Client to HERE.  
		
	1.
	License Fees for North America Territory. 

	
		
	NORTH AMERICA TERRITORY
CONTENT BUNDLE A
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Brand Icons
2D Junction Visuals
Core POIs
Supplemental Listings
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings 
Extended Navigation
Fuel Types
HERE Traffic Patterns
Voice Phonetic Transcriptions
HERE Voice for Traffic
Speed Limits FC 1-5 Content
Signs, Signals and Warnings
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 8 OF 8
    

EX 10.16.31+

	
		
	NORTH AMERICA TERRITORY
CONTENT BUNDLE B
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings 
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Voice Phonetic Transcriptions
HERE Voice for Traffic
Speed Limits FC 1-5 Content
Signs, Signals and Warnings
Basic 3D City Models
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 9 OF 9
    

EX 10.16.31+

	
		
	NORTH AMERICA TERRITORY
CONTENT BUNDLE C
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings 
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Voice Phonetic Transcriptions
HERE Voice for Traffic
Speed Limits FC 1-5 Content
Signs, Signals and Warnings
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

	
		
	NORTH AMERICA TERRITORY
Additional Content Fee
	ADDITIONAL LICENSE FEE PER COPY

	Truck Attributes
	[*****]*

*For sake of clarity, an Additional Content Fee of [*****] will be applied to the per Copy License Fees set forth above for use of Truck Attributes Additional Content in a Route Guidance Application.  

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 10 OF 10
    

EX 10.16.31+

		
	2.
	License Fees for Central and South America Territory. 

	
		
	CENTRAL AND SOUTH AMERICA TERRITORY
CONTENT BUNDLE A
	LICENSE FEE PER COPY

	Base Map Data
2D Footprints Content
3D Landmarks Content
Brand Icons
2D Junction Visuals
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
HERE Traffic Patterns 
HERE Voice for Traffic
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content 
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 11 OF 11
    

EX 10.16.31+

	
		
	CENTRAL AND SOUTH AMERICA TERRITORY
CONTENT BUNDLE B
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
HERE Traffic Patterns 
HERE Voice for Traffic
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
Basic 3D City Models
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 12 OF 12
    

EX 10.16.31+

	
		
	CENTRAL AND SOUTH AMERICA TERRITORY
CONTENT BUNDLE C
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
HERE Traffic Patterns 
HERE Voice for Traffic
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

	
		
	CENTRAL AND SOUTH AMERICA TERRITORY
Additional Content Fee
	ADDITIONAL LICENSE FEE PER COPY

	Truck Attributes
	$[*****]*

*For sake of clarity, an Additional Content Fee of [*****] will be applied to the per Copy License Fees set forth above for use of Truck Attributes Additional Content in a Route Guidance Application.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

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EX 10.16.31+

		
	3.
	License Fees for Middle East Territory. 

	
		
	MIDDLE EAST TERRITORY
CONTENT BUNDLE A
	LICENSE FEE PER COPY

	Base Map Data
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content 
Extended Listings
Core POIs
Supplemental Listings
2D Junction Visuals
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
World Map
	[*****]

	
		
	MIDDLE EAST TERRITORY
CONTENT BUNDLE B
	LICENSE FEE PER COPY

	Base Map Data
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content 
Extended Listings 
Core POIs
Supplemental Listings
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
Basic 3D City Models
2D Junction Visuals
Point Addressing
Extended Navigation
[*****]
Venues
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 14 OF 14
    

EX 10.16.31+

	
		
	MIDDLE EAST TERRITORY
CONTENT BUNDLE C
	LICENSE FEE PER COPY

	Base Map Data
2D Footprints Content
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content 
Extended Listings 
Core POIs
Supplemental Listings
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

	
		
	MIDDLE EAST TERRITORY
Additional Content Fee
	ADDITIONAL LICENSE FEE PER COPY

	Truck Attributes
	$[*****]*

*For sake of clarity, an Additional Content Fee of [*****] will be applied to the per Copy License Fees set forth above for use of Truck Attributes Additional Content in a Route Guidance Application.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 15 OF 15
    

EX 10.16.31+

4.  License Fees for Europe Territory. 
	
		
	EUROPE TERRITORY
CONTENT BUNDLE A
	LICENSE FEE PER COPY IN US DOLLARS**

	Base Map Data
2D Footprints Content
3D Landmarks Content
2D Junction Visuals
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
2D Junction Visuals
HERE Traffic Patterns
Voice Phonetic Transcriptions
Postal Code Points Content for Great Britain
Postal Code Points Content for The Netherlands
Speed Limits FC 1-5 Content
Taxi Stand Point POIs
Signs, Signals and Warnings 
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 16 OF 16
    

EX 10.16.31+

	
		
	EUROPE TERRITORY
CONTENT BUNDLE B
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
2D Junction Visuals
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Voice Phonetic Transcriptions
Postal Code Points Content for Great Britain
Postal Code Points Content for The Netherlands
Speed Limits FC 1-5 Content
Taxi Stand Point POIs
Signs, Signals and Warnings
Basic 3D City Models
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 17 OF 17
    

EX 10.16.31+

	
		
	EUROPE TERRITORY
CONTENT BUNDLE C
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
2D Junction Visuals
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Voice Phonetic Transcriptions
Postal Code Points Content for Great Britain
Postal Code Points Content for The Netherlands
Speed Limits FC 1-5 Content
Taxi Stand Point POIs
Signs, Signals and Warnings
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

	
		
	EUROPE TERRITORY
Additional Content Fee
	ADDITIONAL LICENSE FEE PER COPY

	Truck Attributes
	$[*****]*

*For sake of clarity, an Additional Content Fee of [*****] will be applied to the per Copy License Fees set forth above for use of Truck Attributes Additional Content in a Route Guidance Application.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 18 OF 18
    

EX 10.16.31+

5. License Fees for Australia/New Zealand.
	
		
	AUSTRALIA/NEW ZEALAND TERRITORY
CONTENT BUNDLE A
	LICENSE FEE PER COPY

	Base Map Data
2D Footprints Content
2D Junction Visuals
3D Landmarks Content
Actual Address Range
Brand Icons
Extended Lanes FC1-5
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Safety Camera Alerts
Signs, Signals and Warnings
Speed Limits FC 1-5 Content
[*****] Voice Phonetic Transcriptions
Hook Turns
World Map
	[*****]

[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 19 OF 19
    

EX 10.16.31+

	
		
	AUSTRLIA/NEW ZEALAND TERRITORY
CONTENT BUNDLE B
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Actual Address Range
Brand Icons
Extended Lanes FC 1-5
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Safety Camera Alerts
Signs, Signals and Warnings
Speed Limits FC 1-5 Content
[*****] Voice Phonetic Transcriptions
Basic 3D City Models
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
Hook Turns
World Map
	[*****]

[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 20 OF 20
    

EX 10.16.31+

	
		
	AUSTRALIA/NEW ZEALAND TERRITORY
CONTENT BUNDLE C
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
3D Landmarks Content
Actual Address Range
Brand Icons
Extended Lanes FC 1-5
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
HERE Traffic Patterns
Safety Camera Alerts
Signs, Signals and Warnings
Speed Limits FC 1-5 Content
[*****] Voice Phonetic Transcriptions
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
Hook Turns
World Map
	[*****]

[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 21 OF 21
    

EX 10.16.31+

	
		
	AUSTRALIA/NEW ZEALAND TERRITORY
Additional Content Fee
	ADDITIONAL LICENSE FEE PER COPY

	Truck Attributes
	[*****]*

*For sake of clarity, an Additional Content Fee of [*****] will be applied to the per Copy License Fees set forth above for use of Truck Attributes Additional Content in a Route Guidance Application.

6.  License Fees for Turkey.

	
		
	TURKEY TERRITORY
CONTENT BUNDLE A
	LICENSE FEE PER COPY IN US DOLLARS

	Base Map Data
2D Footprints Content
2D Junction Visuals
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
Generalized Junction Visuals
HERE Traffic Patterns
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
Taxi Stand Point POIs
Signs, Signals and Warnings 
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 22 OF 22
    

EX 10.16.31+

	
		
	TURKEY TERRITORY
CONTENT BUNDLE B
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
2D Junction Visuals
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
Generalized Junction Visuals
HERE Traffic Patterns
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
Taxi Stand Point POIs
Signs, Signals and Warnings
Basic 3D City Models
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 23 OF 23
    

EX 10.16.31+

	
		
	TURKEY TERRITORY
CONTENT BUNDLE C
	LICENSE FEE PER COPY

	Base Map Data 
2D Footprints Content
2D Junction Visuals
3D Landmarks Content
Brand Icons
Environmental Zones Content
Extended Lanes FC 1-5 Content
Extended Listings
Core POIs
Supplemental Listings
Fuel Types
Generalized Junction Visuals
HERE Traffic Patterns
Voice Phonetic Transcriptions
Speed Limits FC 1-5 Content
Taxi Stand Point POIs
Signs, Signals and Warnings
2D Junction Visuals
Point Addressing
Extended Navigation
[*****] Venues
World Map
	[*****]

	
		
	TURKEY TERRITORY
Additional Content Fee
	ADDITIONAL LICENSE FEE PER COPY

	Truck Attributes
	[*****]*

*For sake of clarity, an Additional Content Fee of [*****] will be applied to the per Copy License Fees set forth above for use of Truck Attributes Additional Content in a Route Guidance Application.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 24 OF 24
    

EX 10.16.31+

II.    Additional License Fees per Copy for [*****] Route Guidance Applications (with [*****] only)

The following additional License Fees per Copy shall apply for use of the specified Data in the table below for “[*****]” [*****] Route Guidance Applications for the Territories specified in the table below. The License Fees per Copy shall include the [*****] for use of the [*****], subject to the terms and conditions of that [*****], made by and between Client and HERE Global B.V., [*****], and shall be paid to HERE in accordance with this TL, in connection with the [*****] Route Guidance Applications, regardless of whether [*****] within such Application is [*****] or [*****] by [*****]. For sake of clarity, Client shall pay to HERE the License Fees per Copy below in addition to the License Fees per Copy under Section I above.  
	
							
	Additional License Fee Per Copy for [*****] Route Guidance Applications 
(with [*****])

	Content
	North America Territory
	Central and South America Territory
	Europe Territory
	Turkey
	Middle East Territory
	Australia/New Zealand

	[*****]  Additional Content plus one of the following “Content Bundles” for the applicable Territory as defined under Section 1(1)-(7) of this Exhibit A:  

[*****]  (as applicable for each Territory and subject to payment of License Fees for the corresponding content bundle in Section I of this Exhibit A)

	[*****]
	[*****]
	[*****]
	[*****]
	[*****]
	[*****]

	One of the following Content Bundles for the applicable Territory as defined under Section 1(1)-(7) of this Exhibit A:

[*****] (as applicable for each Territory and subject to payment of License Fees for the corresponding content bundle in Section I above)
	[*****]
	[*****]
	[*****]
	[*****]
	[*****]
	[*****]

		
	III.
	Additional License Fees per Copy for [*****] Route Guidance Applications (with [*****] only)

The following additional License Fees per Copy to the License Fees set forth in Section I above of this Exhibit A shall apply for use of the specified Data in the table below for “[*****]” [*****] Route Guidance Applications for the Territories specified in the table below. The License Fees per Copy shall include the [*****] for use of the [*****], subject to the terms and conditions of that [*****], made by and between Client and HERE Global B.V., [*****], and shall be paid to HERE in accordance with this TL, in connection with the [*****] Route Guidance Applications, regardless of whether [*****] within such Application is [*****] or [*****] by [*****]. For sake of clarity, Client shall pay to HERE the License Fees per Copy below in addition to the License Fees per Copy under Section I above. 

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 25 OF 25
    

EX 10.16.31+

	
							
	Additional License Fee Per Copy for [*****] Route Guidance Applications 
(with [*****])

	Content
	North America Territory
	Central and South America Territory
	Europe Territory
	Turkey
	Middle East Territory
	Australia/New Zealand

	

[*****] Additional Content plus one of the following “Content Bundles” for the applicable Territory as defined under Section 1(1)-(7) of this Exhibit A:  

[*****] (as applicable for each Territory and subject to payment of License Fees for the corresponding content bundle in Section I of this Exhibit A)

	[*****]
	[*****]
	[*****]
	[*****]
	[*****]
	[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 26 OF 26
    

EX 10.16.31+

		
	IV.
	Multi-Year Annual Copy Subscriptions for [*****]  Route Guidance Applications.  For each Multi-Year Annual Copy Subscription for [*****] Route Guidance Applications, the License Fee per Copy for the applicable Territory specified herein is calculated by [*****] (i) the Per Copy License Fees for the applicable Initial Copy (including any applicable discounts specified in Table 1 below) by (ii) the [*****] provided in Table 1 below based upon the [*****] and [*****] of the Multi-Year Annual Copy Subscription as provided in Table 1.  

	
						
	Table 1 – License Fees - Multi-Year Annual Copy Subscriptions

	Program
	[*****]
	[*****]
	[*****]
	[*****]

	[*****]
	 
	 
	 
	 
	 

	[*****]
	[*****]
	[*****]
	[*****]
	[*****]

		
	V.
	[*****].  The License Fees set forth in Sections I, II and III of this Exhibit A are subject to a [*****] from [*****] through [*****] and [*****] through [*****] of the TL Term, commencing with Copies distributed in [*****].  For sake of clarity, the [*****] shall only apply for the [*****] of [*****] and [*****] (i.e., [*****] shall not apply in [*****]).  The resulting per Copy License Fee from the [*****] applied in [*****] shall be applied for the remaining annual periods during the TL Term.    For example, the License Fee per Copy for Route Guidance Applications using [*****] in the [*****] is as follows:  

[*****] 

By way of further example, the License Fee per Copy for Route Guidance Applications with [*****] using [*****] for the [*****] is as follows:  

[*****]

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 27 OF 27
    

EX 10.16.31+

	
	
	EXHIBIT B
END-USER TERMS

The data (“Data”) is provided for your personal, internal use only and not for resale.  It is protected by copyright, and is subject to the following terms and conditions which are agreed to by you, on the one hand, and [CLIENT] (“[CLIENT]”) and its licensors (including their licensors and suppliers) on the other hand.
© 20XX HERE [Insert any applicable copyright notices as required for the country-specific Data being used].  All rights reserved.
The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for Ontario, © Canada Post Corporation, GeoBase ®, © Department of Natural Resources Canada.
HERE holds a non-exclusive license from the United States Postal Service® to publish and sell ZIP+4® information.
©United States Postal Service® 20XX.  Prices are not established, controlled or approved by the United States Postal Service®.  The following trademarks and registrations are owned by the USPS:  United States Postal Service, USPS, and ZIP+4. 
The Data for Mexico includes certain data from Instituto Nacional de Estadística y Geografía.
Terms and Conditions
Personal Use Only. You agree to use this Data together with [insert name of CLIENT’s authorized Application] for the solely personal, non-commercial purposes for which you were licensed, and not for service bureau, time-sharing or other similar purposes. Accordingly, but subject to the restrictions set forth in the following paragraphs, you agree not to otherwise reproduce, copy, modify, decompile, disassemble, create any derivative works of, or reverse engineer any portion of this Data, and may not transfer or distribute it in any form, for any purpose, except to the extent permitted by mandatory laws.
Restrictions.  Except where you have been specifically licensed to do so by [CLIENT], and without limiting the preceding paragraph, you may not  use this Data (a) with any products, systems, or applications installed or otherwise connected to or in communication with vehicles, capable of vehicle navigation, positioning, dispatch, real time route guidance, fleet management or similar applications; or (b) with or in communication with any positioning devices or any mobile or wireless-connected electronic or computer devices, including without limitation cellular phones, palmtop and handheld computers, pagers, and personal digital assistants or PDAs.
Warning. The Data may contain inaccurate or incomplete information due to the passage of time, changing circumstances, sources used and the nature of collecting comprehensive geographic data, any of which may lead to incorrect results.
No Warranty. This Data is provided to you “as is,” and you agree to use it at your own risk.  [CLIENT] and its licensors (and their licensors and suppliers) make no guarantees, representations or warranties of any kind, express or implied, arising by law or otherwise, including but not limited to, content, quality, accuracy, completeness, effectiveness, reliability, fitness for a particular purpose, usefulness, use or results to be obtained from this Data, or that the Data or server will be uninterrupted or error-free.
Disclaimer of Warranty: [CLIENT] AND ITS LICENSORS (INCLUDING THEIR LICENSORS AND SUPPLIERS) DISCLAIM ANY WARRANTIES, EXPRESS OR IMPLIED, OF QUALITY, PERFORMANCE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.  Some States, Territories and Countries do not allow certain warranty exclusions, so to that extent the above exclusion may not apply to you.
Disclaimer of Liability:  [CLIENT] AND ITS LICENSORS (INCLUDING THEIR LICENSORS AND SUPPLIERS) SHALL NOT BE LIABLE TO YOU: IN RESPECT OF ANY CLAIM, DEMAND OR ACTION, IRRESPECTIVE OF THE NATURE OF THE CAUSE OF THE CLAIM, DEMAND OR ACTION ALLEGING ANY LOSS, INJURY OR DAMAGES, DIRECT OR INDIRECT, WHICH MAY RESULT FROM THE USE OR POSSESSION OF THE INFORMATION; OR FOR ANY LOSS OF PROFIT, REVENUE, CONTRACTS OR SAVINGS, OR ANY OTHER DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF YOUR USE OF OR INABILITY TO USE THIS INFORMATION, ANY DEFECT IN THE INFORMATION, OR THE BREACH OF THESE TERMS OR CONDITIONS, WHETHER IN AN ACTION IN CONTRACT OR TORT OR BASED ON A WARRANTY, EVEN IF [CLIENT] OR ITS LICENSORS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.  Some States, Territories and Countries do not allow certain liability exclusions or damages limitations, so to that extent the above may not apply to you.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 28 OF 28
    

EX 10.16.31+

Export Control. [CLIENT] shall not export from anywhere any part of the Data or any direct product thereof except in compliance with, and with all licenses and approvals required under, applicable export laws, rules and regulations, including but not limited to the laws, rules and regulations administered by the Office of Foreign Assets Control of the U.S. Department of Commerce and the Bureau of Industry and Security of the U.S. Department of Commerce. To the extent that any such export laws, rules or regulations prohibit HERE from complying with any of its obligations hereunder to deliver or distribute Data, such failure shall be excused and shall not constitute a breach of this Agreement.
Entire Agreement.  These terms and conditions constitute the entire agreement between [CLIENT] (and its licensors, including their licensors and suppliers) and you pertaining to the subject matter hereof, and supersedes in their entirety any and all written or oral agreements previously existing between us with respect to such subject matter.
Governing Law.  The above terms and conditions shall be governed by the laws of the State of Illinois [insert “Netherlands” where European HERE Data is used], without giving effect to (i) its conflict of laws provisions, or (ii) the United Nations Convention for Contracts for the International Sale of Goods, which is explicitly excluded.  You agree to submit to the jurisdiction of the State of Illinois [insert “The Netherlands” where European HERE Data is used] for any and all disputes, claims and actions arising from or in connection with the Data provided to you hereunder.

Government End Users.  If the Data is being acquired by or on behalf of the United States government or any other entity seeking or applying rights similar to those customarily claimed by the United States government, this Data is a “commercial item” as that term is defined at 48 C.F.R. (“FAR”) 2.101, is licensed in accordance with these End-User Terms, and each copy of Data delivered or otherwise furnished shall be marked and embedded as appropriate with the following “Notice of Use,” and shall be treated in accordance with such Notice:

	
						
	 	Notice of Use
Contractor (Manufacturer/ Supplier) Name:  HERE
Contractor (Manufacturer/Supplier) Address: 
c/o Nokia 425 West Randolph Street, Chicago, Illinois 60606
This Data is a commercial item as defined in FAR 2.101 and is subject to these End-User Terms under which this Data was provided.
© 1987 - 20XX HERE - All rights reserved.

	 
	 
	 
	 

If the Contracting Officer, federal government agency, or any federal official refuses to use the legend provided herein, the Contracting Officer, federal government agency, or any federal official must notify HERE prior to seeking additional or alternative rights in the Data.

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 29 OF 29
    

EX 10.16.31+

	
	
	EXHIBIT C
HERE Standard Data – Supplier Notices & Additional Terms

		
	I.
	As of the Effective Date of this TL, notice of the requirements and restrictions imposed on licensees of Data (including Additional Content) as required by third party suppliers or by governmental or regulatory authorities is provided through the link made available through the HERE B2B Download Center. 

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

PAGE 30 OF 30

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