Document:

EX-4.12

 

Exhibit 4.12

[English Translation]

Addendum No. 1

to Facility Agreement 27 July 2006

between

First Solar Manufacturing GmbH,

Frankfurt (Oder)

as “Borrower”

subject to the joint and several liability of

First Solar Holdings GmbH,

Mainz

and

First Solar GmbH

Mainz

and

IKB Deutsche Industriebank AG,

Düsseldorf

as “Bank”, “Agent” and “Security Agent”

					
	 	 	 	 	 
	 
	 	1
	 	Addendum No. 1 to the Facility Agreement

 

 

Preamble

(1) First Solar Inc., Phoenix, Arizona intends to construct and operate, through First Solar
Manufacturing GmbH, Frankfurt (Oder), a production plant in Frankfurt/Oder for the production of
solar modules on the basis of cadmium-telluride having a capacity of 100 MWp (hereinafter referred
to as the “Project”).

(2) For a pro-rata financing of the “Project”, a syndicate of banks under the lead arrangement of
IKB Deutsche Industriebank AG shall provide First Solar Manufacturing GmbH as the Borrower, subject
to the joint and several liability of First Solar Holdings GmbH, Mainz and First Solar GmbH, Mainz,
with three loans up to a total amount of EUR 102,044,000 according to the Facility Agreement of
July 27, 2006 (hereinafter referred to as the “Facility Agreement").

(3) IKB Deutsche Industriebank AG intends, together with Landesbank Rheinland-Pfalz, Mainz,
Commerzbank AG Filiale Mainz, and Landesbank Sachsen Girozentrale, Leipzig, to sign in each case an
assignment agreement according to Annex 2 of this Agreement, according to which, from the interest
period beginning on October 30, 2006 the indicated banks shall participate in the loans as follows
(hereinafter referred to as “Assignment 1"):

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Term Loan	 	Revolver	 	Bridge Loan
	 	 	Amount (EUR)	 	Quota	 	Amount (EUR)	 	Quota	 	Amount (EUR)	 	Quota
	IKB
	 	 	14,794,000	 	 	 	27.89 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%
	Commerzbank
	 	 	12,750,000	 	 	 	24.04 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%
	Landesbank
Rheinland-Pfalz
	 	 	12,750,000	 	 	 	24.04 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%
	Landesbank Sachsen
	 	 	12,750,000	 	 	 	24.04 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total
	 	 	53,044,000	 	 	 	100	%	 	 	27.000.000	 	 	 	100	%	 	 	22,000,000	 	 	 	100 	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

(4) In addition, the contractual parties intend to amend various provisions of the Facility
Agreement.

Given this background information, the parties agree as follows (hereinafter referred to as
“Addendum No. 1"):

1 Definitions

The use of quotation marks for certain terms and their derivatives serve as a reference to the
definitions in the Preamble of Addendum No.1 and Number 2.1 of this Facility Agreement. If the same
term is used without quotations marks, the general meaning resulting from the context applies.

					
	 	 	 	 	 
	 
	 	2
	 	Addendum No. 1 to the Facility Agreement

 

 

2 Consent

The “Borrower” and “FS GmbH” and “FS Holdings” herewith gives their consent to “Assignment 1”.

3 Changes to the “Facility Agreement”

3.1

The “Facility Agreement” is amended as follows. The change indicated under Number 3.1.13 effected
subject to the condition that the “Agent” has informed the “Borrower” pursuant to Number 27.5 of
the “Facility Agreement” concerning the validity of “Assignment 1”.

3.1.1

In Number 1.1, the definition of the “contractual documentation” is deleted and replaced by the
following definition:

“ “Contractual Documentation”: shall consist of this Facility Agreement, the “Fee Letter”,
and the “Security Agreement”, each of them including any addenda, changes, and
complementation that the pertinent parties to the Facility Agreement and the security
agreements have presently agreed upon or will agree upon in the future.”

3.1.2

In Number 7.1, the following sentence shall be added at the end:

“Two “Banking Days” before the beginning of an interest period, the “Agent” shall inform the
“Borrower” and the banks of the interest rate for this interest period.”

3.1.3

In Number 11.2, at the end of Paragraph (a) the word “and” is deleted and the word “and” is
inserted at the end of Paragraph (b) after the semicolon.

3.1.4

In Number 13.2, Paragraph 1 is deleted and replaced by the following Paragraph:

“The “Investment Account” shall be exclusively credited with payments under the “Investment
Supports”. “Borrower 1” undertakes to instruct the appropriate tax office to make payments
for the “Project” under the “Investment Supports” exclusively to the “Investment Account” or
– if these payments cannot be effected to the “Investment Account” for technical reasons – to
make these payments exclusively to the “Project Account”. The “Borrower” undertakes to remit
payments for the “Project” under the “Investment Supports” to the “Investment Account” within
5 banking days after their receipt in the “Project Account”.”

					
	 	 	 	 	 
	 
	 	3
	 	Addendum No. 1 to the Facility Agreement

 

 

3.1.5

Number 15.5 is deleted and replaced by the following Number:

     “15.5

Upon request, each of the “Banks” shall issue and present to the “Borrower” a confirmation
letter that essentially conforms to the circular of the German Federal ministry of Finance of
October 20, 2005 (IV B7 – S2742a – 43/05) to § 8a of KStG.”

3.1.6

In Number 19.1.11, the words “and unsecured” shall be deleted.

3.1.7

Number 19.1.15 shall be deleted without replacement. 1

3.1.8

In Number 21.4, the last Sentence shall be deleted and replaced by the following sentence:

“The provisions in Number 21 related to the “Agent” apply to the “securities agent”
accordingly.”

3.1.9

In Number 21.10, Paragraph (d) shall be deleted and replaced by the following Paragraph:

"(d) to examine the enforceability or the value of the “Securities”, or”.

3.1.10

In Number 22.1 the following sentence:

“The provisions in Number 22 related to the “Agent” apply to the “securities agent”
accordingly.”

In Number 27.4, the following sentence shall be inserted after the 1. sentence:

“The consent of the “Borrower” with respect to the “assignment” is not required if “a
termination cause is imminent” or a termination cause arose pursuant to Number 20.1 of this
Facility Agreement.”

 

			
	1	 	ist bereits in Ziffer 19.1.1 Absatz 2 geregelt.

					
	 	 	 	 	 
	 
	 	4
	 	Addendum No. 1 to the Facility Agreement

 

 

3.1.11

In Number 34, the term “Securities Trustee” shall be deleted and replaced with “Securities Agent”,
and the following Paragraph shall be inserted before the text “to the “Agent”, the “Securities
agent” and/or the “Banks”:

“To “FS GmbH” and/or “FS Holdings”:

First Solar Holdings GmbH

Rheinstraße 4N

55116 Mainz

Attention: Karlheinz Harz

Tel.: 06131-1443300

Fax: 06131-144500

Email: kharz@firstsolar.com”

3.1.12

Annex 1 (Quotas of the Banks) shall be deleted and replaced with Annex 1 to “Addendum No. 1”.

3.1.13

In Annex 13 (Securities), the penultimate Paragraph shall be deleted and replaced with the
following Paragraph:

“The securities under Points 2 to 10 and to Points 14 to 21 provide a priority guarantee for
the “Redemption Loan” and – with lesser priority – first the “Working Capital Loan” and
subsequently the “Bridge Loan”; the securities under Points 11, 12, and 13 provide a priority
guarantee for the “Working Capital Loan”, with lesser priority then the “Redemption Loan” and
subsequently the “Bridge Loan”. Departing from this provision, the pledge of the “Investment
Account” and the pledge of the “Project Account” to a partial amount that arises from the
credit note of “Investment supports” pursuant to Number 13.2, Paragraph 1 and which has not
been remitted within 5 banking days after receipt in the “Investment account”, provide a
guarantee for the “Bridge-over loan”.”

3.2

All other provisions of the “Facility Agreement” shall remain unaffected by Addendum No. 1”.

4 Enforcement

4.1

“Addendum No. 1” shall come into force following a written confirmation issued by “PwC” to the
“Agent” that the “Guarantors” have taken cognisance of “Addendum No.1” with approval.

					
	 	 	 	 	 
	 
	 	5
	 	Addendum No. 1 to the Facility Agreement

 

 

The “Agent” shall inform the “Borrower” and the “Banks” in writing of its receipt of this
confirmation.

4.2

Upon having come into force, “Addendum No. 1” shall be an integral part of the “Contractual
documentation”.

5 Others

Number 32 (Exercise of rights, Safeguarding Clause) and Number 35 (Jurisdiction, applicable law) of
the “Facility Agreement” apply to “Addendum No. 1 accordingly”.

					
	 	 	 	 	 
	 
	 	6
	 	Addendum No. 1 to the Facility Agreement

 

 

	 	 	 	 	 	 	 
	Düsseldorf, on 12.09.2006
 

(Place, date)

	 	 	 	  

IKB
Deutsche Industriebank AG
	 	 
	 
	 	 	 	 	 	 
	Düsseldorf, on 12.09.2006
 

(Place, date)

	 	 	 	  

First
Solar Manufacturing GmbH
	 	 
	 
	 	 	 	 	 	 
	Düsseldorf, on 12.09.2006
 

(Place, date)

	 	 	 	  

First
Solar Holdings GmbH
	 	 
	 
	 	 	 	 	 	 
	Düsseldorf, on 12.09.2006
 

(Place, date)

	 	 	 	  

First
Solar GmbH
	 	 

					
	 	 	 	 	 
	 
	 	7
	 	Addendum No. 1 to the Facility Agreement

 

 

 

Annex 1

The “Bank’s” quotas

1. Until the expiry of the interest period ending on October 30, 2006

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	“Redemption loan”	 	“Revolving loan”	 	“Bridge-over loan”	 	Total
	 	 	Amount (EUR)	 	Quota	 	Amount (EUR)	 	Quota	 	Amount (EUR)	 	Quota	 	Amount (EUR)	 	Quota
	IKB Deutsche Industriebank AG
	 	 	53,044,000	 	 	 	100 	%	 	 	27,000,000	 	 	 	100 	%	 	 	22,000,000	 	 	 	100 	%	 	 	102,044,000	 	 	 	100 	%

2. At the beginning of the interest period starting on October 30, 2006

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	“Redemption loan”	 	“Revolving loan”	 	“Bridge-over loan”	 	Total
	 	 	Amount (EUR)	 	Quote	 	Amount (EUR)	 	Quote	 	Amount (EUR)	 	Quote	 	Amount (EUR)	 	Quote
	IKB Deutsche Industriebank AG
	 	 	14,794,000	 	 	 	27.89 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%	 	 	27,044,000	 	 	 	26.5 	%
	Commerzbank AG Filiale Mainz
	 	 	12,750,000	 	 	 	24.04 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%	 	 	25,000,000	 	 	 	24.5 	%
	Landesbank Rheinland-Pfalz
	 	 	12,750,000	 	 	 	24.04 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%	 	 	25,000,000	 	 	 	24.5 	%
	Landesbank Sachsen
Girozentrale
	 	 	12,750,000	 	 	 	24.04 	%	 	 	6,750,000	 	 	 	25 	%	 	 	5,500,000	 	 	 	25 	%	 	 	25,000,000	 	 	 	24.5 	%
	 
	Total
	 	 	53,044,000	 	 	 	100 	%	 	 	27,000,000	 	 	 	100 	%	 	 	22,000,000	 	 	 	100 	%	 	 	102,044,000	 	 	 	100	%
	 

					
	 	 	 	 	 
	 
	 	8
	 	Addendum No. 1 to the Facility AgreementEX-4.13:

 

Exhibit 4.13

DEMAND NOTE

Bentonville, Arkansas

July 26, 2005

     FOR VALUE RECEIVED, the undersigned, FIRST SOLAR HOLDINGS, LLC (“MAKER”) promises to pay, on
demand, to the order of WALTON ENTERPRISES II, L.P. (“PAYEE”) and its office in Bentonville,
Arkansas, an amount up to the sum of FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00), with interest
at the rate equal to the Federal short term rates (AFR) per annum from date until paid.

     Whenever PAYEE shall make an advance to the undersigned or a payment on this Note is made by
the undersigned, PAYEE shall make an appropriate notation on the second page of this Note and the
amount outstanding hereunder at any time shall be the sum of such advances, less any repayments
thereof.

     If this obligation, after default, is placed in the hands of an attorney for collection, the
MAKER, guarantors and all other persons now or hereafter liable hereon will be obligated to pay the
holder hereof an additional sum, as a reasonable attorney’s fee, not to exceed Ten Percent (10%) of
the unpaid principal plus all accrued interest. This clause is intended to be in compliance with
Act 350 of the Arkansas Acts of 1951, approved March 20, 1951.

     The MAKER reserves the privilege to prepay all or any part of the indebtedness evidenced by
this Note at any time without premium or penalty.

     Whenever used herein, the words “MAKER” and “PAYEE” shall be deemed to include their
respective heirs, personal representatives, successors and assigns.

     The MAKER, endorsers, sureties, guarantors and assignors of this Note severally waive demand,
presentment for payment, protest and notice of protest, and nonpayment, and agree and consent that
the time for its payment may be extended, or said Note renewed from time to time and for any term
or terms by agreement between the holder and any of them without notice and that after such
extension or extensions, renewal or renewals, the liabilities of all parties shall remain as if no
extension or renewal had been effected.

	 	 	 	 	 	 	 
	 	 	FIRST SOLAR HOLDINGS, LLC	 	 
	 

	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

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