Document:

Loan and Guaranty Agreement

 Exhibit 10.32 
 LOAN AND GUARANTY AGREEMENT 
 THIS LOAN AND GUARANTY AGREEMENT is made and dated
as of December 28, 2010 and is entered into by and among BRIGHTSOURCE ENERGY, INC., a Delaware corporation (the “Borrower”), certain wholly-owned Domestic Subsidiaries of Borrower, as Guarantors, and HERCULES TECHNOLOGY GROWTH
CAPITAL, INC., a Maryland corporation (“HTGC”) and HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership (“Hercules II”) (HTGC and Hercules II, collectively, the “Lender”). 

RECITALS 

A. Borrower has requested loans in an aggregate principal amount of up to Twenty-Five Million Dollars ($25,000,000) (the “Term
Loans”), the proceeds of which will be used (i) to pay ongoing costs of the Projects, (ii) for general corporate purposes and (iii) to pay Transaction Costs; 

B. Borrower has agreed to secure all of its Obligations by granting to Collateral Agent, for the benefit of Lender, a Lien (subordinated
in favor of the Senior Lenders) on substantially all of its assets, including a pledge of all of the Equity Interests of each of its Domestic Subsidiaries and 66% of all the Equity Interests of each of its Foreign Subsidiaries; 

C. Guarantors have agreed to guarantee the obligations of Borrower hereunder and to secure their respective Obligations by granting to
Collateral Agent, for the benefit of Lender, a Lien (subordinated in favor of the Senior Lenders) on substantially all of their respective assets, including a pledge of all of the Equity Interests of each of their respective Domestic Subsidiaries
and 66% of all the Equity Interests of each of their respective Foreign Subsidiaries; and 
 D. Lender is willing to make the
Term Loans on the terms and conditions set forth in this Agreement. 
 AGREEMENT 

NOW, THEREFORE, Borrower and Lender agree as follows: 
 SECTION 1. DEFINITIONS AND RULES OF CONSTRUCTION 
 1.1 Unless
otherwise defined herein, the following capitalized terms shall have the following meanings: 
 “Account
Control Agreement(s)” means any agreement entered into by and among the Senior Lenders Collateral Agent for the benefit of the Senior Lenders, the Administrative Agent and the Lender (or upon the Discharge of Senior Indebtedness, only the
Lender), a Credit Party and a third party Bank or other institution (including a Securities Intermediary) in which a Credit Party maintains a Deposit Account or an account holding Investment Property and which grants the Senior Lenders Collateral
Agent for the benefit of the Senior Lenders, the Administrative Agent and the Lender (or upon the Discharge of Senior Indebtedness, only the Lender) a perfected security interest in the subject account or accounts. 

“ACH Authorization” means the ACH Debit Authorization Agreement in substantially the form of Exhibit G.

 “Administrative Agent” shall have the meaning ascribed to such term in the Senior Credit
Agreement. 
 “Advance” means the Term Loan A Advance, the Term Loan B Advance, and any funds
advanced under this Agreement. 
 “Advance Date” means the funding date of any Advance.

  
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 “Advance Request” means a request for an Advance submitted
by Borrower to Lender in substantially the form of Exhibit A. 
 “Adverse Proceeding” means
any action, suit, proceeding, hearing (in each case, whether administrative, judicial or otherwise), governmental investigation or arbitration (whether or not purportedly on behalf of Borrower or any of its Subsidiaries) at law or in equity, or
before or by any Governmental Authority, domestic or foreign (including any Environmental Claims), whether pending or, to the knowledge of Borrower or any of its Subsidiaries, threatened against or affecting Borrower or any of its Subsidiaries or
any property of Borrower or any of its Subsidiaries. “Agreement” means this Loan and Guaranty Agreement, as amended from time to time. 
 “Affiliate” means, as applied to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with, that Person. For the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly,
of the power (i) to vote 10% or more of the Securities having ordinary voting power for the election of directors of such Person or (ii) to direct or cause the direction of the management and policies of that Person, whether through the
ownership of voting securities or by contract or otherwise. 
 “Aggregate Payments” as defined
in Section 8.2. 
 “Asset Sale” means a sale, lease or sub-lease (as lessor or sublessor),
sale and leaseback, assignment, conveyance, exclusive license (as licensor or sublicensor), transfer or other disposition to, or any exchange of property with, any Person (other than Borrower or any Guarantor), in one transaction or a series of
related transactions, of all or any part of the Borrower or any of its Subsidiaries’ businesses, assets or properties of any kind, whether real, personal, or mixed and whether tangible or intangible, whether now owned or hereafter acquired,
leased or licensed, including the Equity Interests of any of the Borrower’s Subsidiaries, other than inventory (or other assets) sold, leased or licensed out in the ordinary course of business (excluding any such sales, leases or licenses out
by operations or divisions discontinued or to be discontinued). 
 “Assignee” has the meaning
given to it in Section 12.14. 
 “Authorized Officer” means, as applied to any Person, any
individual holding the position of chairman of the board (if an officer), chief executive officer, president, vice president (or the equivalent thereof), chief financial officer or treasurer of such Person; provided that the secretary or
assistant secretary of such Person shall have delivered an incumbency certificate to Lender as to the authority of such Authorized Officer. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute. 

“BSCM” means BrightSource Construction Management, Inc., a Delaware corporation and a wholly-owned
subsidiary of the Borrower. 
 “BSII” means BrightSource Industries (Israel) Ltd. 

“BSOI” means BrightSource Operations (Israel) Ltd. 

“Business Day” means any day excluding Saturday, Sunday and any day which is a legal holiday under the
laws of the State of California or is a day on which banking institutions located in such state are authorized or required by law or other governmental action to close. 

“Business Plan” as defined in Section 4.8. 

  
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 “Capital Lease” means, as applied to any Person, any lease
of any property (whether real, personal or mixed) by that Person as lessee that, in conformity with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person. 

“Cash” means money, currency or a credit balance in any demand or Deposit Account. 

“Cash Equivalents” means, as at any date of determination, any of the following: (i) marketable
securities (a) issued or directly and unconditionally guaranteed as to interest and principal by the United States Government or (b) issued by any agency of the United States the obligations of which are backed by the full faith and credit
of the United States, in each case maturing within one year after such date; (ii) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality
thereof; in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; (iii) commercial paper maturing no more than three
months from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; (iv) certificates of deposit or bankers’ acceptances maturing within
three months after such date and issued or accepted by any Lender or by any commercial bank organized under the laws of the United States of America or any state thereof or the District of Columbia that (a) is at least “adequately
capitalized” (as defined in the regulations of its primary Federal banking regulator) and (b) has Tier 1 capital (as defined in such regulations) of not less than $1,000,000,000; and (v) shares of any money market mutual fund that
(a) has substantially all of its assets invested continuously in the types of investments referred to in clauses (i) and (ii) above, (b) has net assets of not less than $5,000,000,000, and (c) has the highest rating
obtainable from either S&P or Moody’s. 
 “Change of Control” means (A) at all
times prior to the Discharge of the Senior Indebtedness (i) any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) (x) shall have acquired fifty percent (50%) or more on a fully diluted
basis of the voting and/or economic interests in the Equity Interests of the Borrower or (y) shall have obtained the power (whether or not exercised) to elect a majority of the members of the board of directors (or similar governing body) of
Borrower; (ii) the majority of the seats (other than vacant seats) on the board of directors (or similar governing body) of Borrower cease to be occupied by Persons who either (x) were members of the board of directors of Borrower on the
Closing Date or (y) were nominated for election by the board of directors of Borrower; or (iii) Borrower shall cease to indirectly control 100% of the Project Companies other than in connection with a sale of Equity Interests resulting in
a mandatory prepayment described in Section 2.8; provided, however, an Initial Public Offering shall not constitute a Change of Control, and (B) at all times after the Discharge of the Senior Indebtedness (i) reorganization,
recapitalization, consolidation or merger (or similar transaction or series of related transactions) of Borrower, any Guarantor, BSOI or BSII, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of
Borrower, any Guarantor, BSOI or BSII in which the holders of such entity’s outstanding shares immediately before consummation of such transaction or series of related transactions do not, immediately after consummation of such transaction or
series of related transactions, retain shares representing more than fifty percent (50%) of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving
entity is wholly owned by such parent), in each case without regard to whether Borrower, such Guarantor, BSOI or BSII is the surviving entity, other than in connection with such reorganization, recapitalization, consolidation or merger of any
Guarantor, BSOI or BSII or sale or exchange of outstanding shares of any Guarantor, BSOI or BSII resulting in the Net Cash Proceeds (if any) being remitted directly to Borrower or any Guarantor in a Deposit Account with respect to which Lender has
an Account Control Agreement (it being acknowledged and agreed to by Lender that the foregoing does not require Borrower to thereafter maintain such amounts in such Deposit Account) so long as no Event of Default has occurred and is continuing, or
(ii) sale or issuance by Borrower of new shares of Preferred Stock of Borrower to investors, none of whom are current investors in Borrower, and such new shares of Preferred Stock are senior to all existing Preferred Stock and Common Stock with
respect to liquidation preferences, and the aggregate liquidation preference of the new shares of Preferred Stock is more than fifty percent (50%) of the aggregate liquidation preference of all shares of Preferred Stock of the Company;
provided, however, an Initial Public Offering shall not constitute a Change in Control. 

“Claims” has the meaning given to it in Section 12.10. 

  
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 “Closing Date” means the date of this Agreement.

 “Collateral” means, collectively, all of the personal and mixed property, whether tangible or
intangible, (including Equity Interests but excluding real property) in which Liens (subordinated in favor of the Senior Lenders) are purported to be granted pursuant to the Collateral Documents as security for the Obligations. 

“Collateral Agent” means Hercules Technology Growth Capital, Inc. 

“Collateral Documents” means the Pledge and Security Agreement, the Intellectual Property Security
Agreements and all other instruments, documents and agreements delivered by or on behalf of any Credit Party pursuant to this Agreement or any of the other Credit Documents in order to grant to, or perfect in favor of, Collateral Agent, for the
benefit of Secured Parties, a Lien (subordinated in favor of the Senior Lenders) on any personal or mixed property, whether tangible or intangible, of that Credit Party as security for the Obligations. 

“Commitment Fee” means $50,000, which fee is due to Lender on or prior to the Closing Date, and shall be
deemed fully earned on such date regardless of the early termination of this Agreement. 
 “Confidential
Information” has the meaning given to it in Section 12.13. 
 “Consolidated Capital
Expenditures” means, for any period, the aggregate of all expenditures and all deposits in connection with equipment purchases of Borrower and its Guarantors during such period determined on a consolidated basis that, in accordance with
GAAP, are or should be included in “purchase of property and equipment” or similar items, or which should otherwise be capitalized, reflected in the consolidated statement of cash flows of Borrower and its Guarantors. 

“Contractual Obligation” means, as applied to any Person, any provision of any Security issued by that
Person or of any indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject.

 “Contributing Guarantors” as defined in Section 8.2. 

“Credit Party” means each Person (other than any Agent or any Lender or any other representative thereof)
from time to time party to a Credit Document. 
 “Currency Agreement” means any foreign
exchange contract, currency swap agreement, futures contract, option contract, synthetic cap or other similar agreement or arrangement, each of which is for the purpose of hedging the foreign currency risk associated with Borrower’s and
Subsidiaries’ operations and not for speculative purposes. 
 “Default” means a condition
or event that, after notice or lapse of time or both, would constitute an Event of Default. 
 “Deposit
Account” means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit. 

“Discharge of Senior Indebtedness” means: (a) payment in full in cash of all Senior Indebtedness;
(b) termination or expiration of all commitments, if any, to extend credit that would constitute Senior Indebtedness; and (c) termination of all Liens securing the Senior Indebtedness held by or on behalf of the Senior Lenders Collateral
Agent or any First Lien Claimholders (as defined in the Intercreditor Agreement) or any agent or 

  
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trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise 

“Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the terms of any
security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or is mandatorily redeemable (other than solely for Equity Interests which are not
otherwise Disqualified Equity Interests), pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests),
in whole or in part, (iii) provides for the scheduled payments or dividends in cash, or (iv) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests,
in each case, prior to the date that is 91 days after the maturity date of the Loans, except, in the case of clauses (i) and (ii), if as a result of a Change of Control or Asset Sale, so long as any rights of the holders thereof upon the
occurrence of such a Change of Control or Asset Sale event are subject to the prior payment in full of all Obligations. 
 “DOE Commitment Letters” means (i) the Term Sheet, dated January 29, 2010, from the United States Department of Energy to the Borrower, regarding LGPO Loan Number: 1009,
accepted and agreed by the Borrower, Solar Partners II, LLC, and consented and agreed by Solar Partners I, LLC and Solar Partners VIII, LLC, (ii) the Term Sheet, dated January 29, 2010, from the United States Department of Energy to the
Borrower, regarding LGPO Loan Number: 1059, accepted and agreed by the Borrower and Solar Partners I, LLC, and consented and agreed by Solar Partners II, LLC and Solar Partners VIII, LLC and (iii) the Term Sheet, dated January 29, 2010,
from the United States Department of Energy to the Borrower, regarding LGPO Loan Number: 1109, accepted and agreed by the Borrower and Solar Partners VIII, LLC, and consented and agreed by Solar Partners I, LLC and Solar Partners II, LLC, in each
case with respect to the DOE Loan Guarantee Program. 
 “DOE Loan Guarantee Program” a loan
guarantee program for innovative technologies established under Section 1703 or Section 1705 of Title XVII. 
 “Domestic Subsidiary” means any Subsidiary organized under the laws of the United States of America, any State thereof or the District of Columbia. 

“Dormant Subsidiary” means any Subsidiary that (a) is not actively engaged in any business, and
(b) has no assets with a book value in excess of $1,500,000 or annual revenues in excess of $1,500,000. 

“Employee Benefit Plan” means any “employee benefit plan” as defined in Section 3(3) of
ERISA which is or was sponsored, maintained or contributed to by, or required to be contributed by, Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates. 

“End of Term Charge” has the meaning ascribed to such term in Section 2.6. 

“Environmental Claim” means any investigation, notice (written or oral), notice of violation, claim,
action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (i) pursuant to or in connection with any actual or alleged violation of any
Environmental Law; (ii) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; (iii) in connection with any actual or alleged damage, injury, threat or harm to health, safety, natural resources or
the environment; or (iv) from circumstances forming the basis of any violation, or alleged violation, of any Environmental Law. 
 “Environmental Laws” means any and all current or future foreign or domestic, federal, state (or any subdivision of either of them) or local, statutes, ordinances, orders, rules,
regulations, judgments, Governmental Authorizations, or any other requirements of Governmental Authorities and common law relating to pollution or protection of human health or the environment (including, without limitation, ambient air, surface
water, ground water, land surface or subsurface strata, and natural resources), including without limitation relating to (i) any Hazardous Materials Activity; (ii) the generation, use, storage, transportation or disposal of Hazardous
Materials; (iii) occupational safety and health, industrial hygiene, land use or the protection of human, plant or animal health or 

  
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welfare; (iv) endangered or threatened species of fish, wildlife and plant and the management or use of natural resources; (v) the preservation of the environment or mitigation of
adverse effects on or to human health or the environment; or (vi) emissions or control of greenhouse gases. 

“Equity Interests” means any and all shares, interests, participations or other equivalents (however
designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including partnership interests and membership interests, and any and all warrants, rights or options to purchase or
other arrangements or rights to acquire any of the foregoing. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended from time to time, and any successor thereto. 

“ERISA Affiliate” means, as applied to any Person, (i) any corporation which is a member of a
controlled group of corporations within the meaning of Section 414(b) of the Internal Revenue Code of which that Person is a member; (ii) any trade or business (whether or not incorporated) which is a member of a group of trades or
businesses under common control within the meaning of Section 414(c) of the Internal Revenue Code of which that Person is a member; and (iii) any member of an affiliated service group within the meaning of Section 414(m) or
(o) of the Internal Revenue Code of which that Person, any corporation described in clause (i) above or any trade or business described in clause (ii) above is a member. Any former ERISA Affiliate of Borrower or any of its
Subsidiaries shall continue to be considered an ERISA Affiliate of Borrower or any such Subsidiary within the meaning of this definition with respect to the period such entity was an ERISA Affiliate of Borrower or such Subsidiary and with respect to
liabilities arising after such period for which Borrower or such Subsidiary could be liable under the Internal Revenue Code or ERISA. 
 “ERISA Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder with respect to any Pension Plan
(excluding those for which the provision for 30-day notice to the PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of Section 412 of the Internal Revenue Code with respect to any Pension Plan
(whether or not waived in accordance with Section 412(c) of the Internal Revenue Code) or the failure to make by its due date a required installment under Section 430(j) of the Internal Revenue Code with respect to any Pension Plan or the
failure to make any required contribution to a Multiemployer Plan; (iii) the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination
described in Section 4041(c) of ERISA; (iv) the withdrawal by Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension
Plan resulting in liability to Borrower, any of its Subsidiaries or any of their respective Affiliates pursuant to Section 4063 or 4064 of ERISA; (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the
occurrence of any event or condition which might constitute grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (vi) the imposition of liability on Borrower, any of its Subsidiaries or
any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (vii) the withdrawal of Borrower, any of its Subsidiaries or any of their respective
ERISA Affiliates in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any potential liability therefore, or the receipt by Borrower, any of its Subsidiaries or any of
their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of
ERISA; (viii) the occurrence of an act or omission which could give rise to the imposition on Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of fines, penalties, taxes or related charges under Chapter 43 of the
Internal Revenue Code or under Section 409, Section 502(c), (i) or (l), or Section 4071 of ERISA in respect of any Employee Benefit Plan; (ix) the assertion of a material claim (other than routine claims for benefits)
against any Employee Benefit Plan other than a Multiemployer Plan or the assets thereof, or against Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates in connection with any Employee Benefit Plan; (x) receipt from the
Internal Revenue Service of notice of the failure of any Pension Plan (or any other Employee Benefit Plan intended to be qualified under Section 401(a) of the Internal Revenue Code) to qualify under Section 401(a) of the Internal Revenue
Code, or the failure of any trust forming part of any Pension Plan to qualify for exemption from taxation under Section 501(a) of the Internal Revenue Code; or (xi) the 

  
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imposition of a lien pursuant to Section 430(k) of the Internal Revenue Code or ERISA or a violation of Section 436 of the Internal Revenue Code. 

“Event of Default” has the meaning given to it in Section 10. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor
statute. 
 “Facility” means any real property (including all buildings, fixtures or other
improvements located thereon) located within the United States now, hereafter or heretofore owned, leased, operated or used by Borrower or any of its Guarantors. 

“Fair Share Contribution Amount” as defined in Section 8.2. 

“Fair Share” as defined in Section 8.2. 

“Facility Charge” means Two Hundred Fifty Thousand Dollars ($250,000). 

“Fiscal Year” means the fiscal year of the Borrower and its Subsidiaries ending on December 31 of
each calendar year. 
 “Foreign Subsidiary” means any Subsidiary that is not a Domestic
Subsidiary. 
 “Funding Guarantors” as defined in Section 8.2. 

“GAAP” means generally accepted accounting principles in the United States of America, as in effect from
time to time. 
 “Governmental Authority” means any federal, state, municipal, national or other
government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity, officer or examiner exercising executive, legislative, judicial, regulatory or administrative functions
of or pertaining to any government or any court, in each case whether associated with a state of the United States, the United States, or a foreign entity or government. 

“Governmental Authorization” means any permit, license, authorization, plan, directive, consent order or
consent decree of or from any Governmental Authority. 
 “Grant” means a grant for
specified energy property in lieu of tax credits under Section 1603 of Division B of the American Recovery and Reinvestment Act of 2009, P.L. 111-5 (or any successor thereto), with respect to each of the Projects. 

“Guaranteed Obligations” as defined in Section 8.1. 

“Guarantor” means each of the Project Companies and BSCM, and each Person that executes a Joinder
Agreement and Pledge Supplement (as defined in the Collateral Documents) after the Closing Date pursuant to Section 6.8. 
 “Guaranty” means the guaranty of each Guarantor set forth in Section 8. 

  
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 “Hazardous Materials” means any chemical, material,
contaminant, pollutant or substance, exposure to which is prohibited, limited or regulated by any Governmental Authority or which may or could pose a hazard to the health and safety of the owners, occupants or any Persons in the vicinity of any
Facility or to the indoor or outdoor environment. 
 “Hazardous Materials Activity” means any
past, current, proposed or threatened activity, event or occurrence involving any Hazardous Materials, including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release, discharge, placement,
generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposal, disposition or handling of, or exposure to, any Hazardous Materials, and any corrective action or response action with respect to any of the
foregoing. 
 “Hercules II” has the meaning given to it in the preamble to this Agreement.

 “Historical Consolidated Financial Statements” means as of the Closing Date, (i) the
audited consolidated financial statements of Borrower and its Subsidiaries, for the immediately preceding three (3) Fiscal Years, consisting of consolidated balance sheets and the related consolidated statements of income, stockholders’
equity and consolidated cash flows for such Fiscal Year, and (ii) the unaudited consolidated financial statements of Borrower and its Subsidiaries as of the two most recent fiscal quarters ended after the date of the most recent audited
consolidated financial statements, consisting of a consolidated balance sheet and the related consolidated statements of income, stockholders’ equity and consolidated cash flows, and, in the case of clauses (i) and (ii), certified by the
chief financial officer of Borrower that they fairly present, in all material respects, the financial condition of Borrower and its Subsidiaries taken as a whole as at the dates indicated and the results of their operations and their cash flows for
the periods indicated, subject to changes resulting from audit and normal year-end adjustments. 

“HTGC” has the meaning given to it in the preamble to this Agreement. 

“Indebtedness” means, as applied to any Person, without duplication, (i) all indebtedness for
borrowed money; (ii) that portion of obligations with respect to Capital Leases that is properly classified as a liability on a balance sheet in conformity with GAAP; (iii) bonds, debentures, notes payable and drafts accepted representing
extensions of credit whether or not representing obligations for borrowed money; (iv) any obligation owed for all or any part of the deferred purchase price of property or services, including any earn-out obligations (excluding any such
obligations incurred under ERISA); (v) all indebtedness secured by any Lien on any property or asset owned or held by that Person regardless of whether the indebtedness secured thereby shall have been assumed by that Person or is nonrecourse to
the credit of that Person; (vi) the face amount of any letter of credit, acceptance or similar extension of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of drawings;
(vii) Disqualified Equity Interests, (viii) the direct or indirect guaranty, endorsement (otherwise than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such
Person of the obligation of another; (ix) any obligation of such Person the primary purpose or intent of which is to provide assurance to an obligee that the obligation of the obligor thereof will be paid or discharged, or any agreement
relating thereto will be complied with, or the holders thereof will be protected (in whole or in part) against loss in respect thereof; (x) any liability of such Person for an obligation of another through any agreement (contingent or
otherwise) (a) to purchase, repurchase or otherwise acquire such obligation or any security therefor, or to provide funds for the payment or discharge of such obligation (whether in the form of loans, advances, stock purchases, capital
contributions or otherwise) or (b) to maintain the solvency or any balance sheet item, level of income or financial condition of another if, in the case of any agreement described under subclauses (a) or (b) of this clause (x), the
primary purpose or intent thereof is as described in clause (ix) above; (xi) all obligations of such Person in respect of any exchange traded or over the counter derivative transaction, including under any Interest Rate Agreement or
Currency Agreement, in each case, whether entered into for hedging or speculative purposes or otherwise; and (xii) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to
property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property). 

  
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 “Initial Public Offering” means the initial firm commitment
underwritten offering of Borrower’s common stock pursuant to a registration statement under the Securities Act of 1933 filed with and declared effective by the Securities and Exchange Commission. 

“Intellectual Property” as defined in the Pledge and Security Agreement. 

“Intellectual Property Asset” means, at the time of determination, any interest (fee, license or
otherwise) then owned by any Credit Party in any Intellectual Property. 
 “Intellectual Property
Security Agreements” has the meaning assigned to that term in the Pledge and Security Agreement. 

“Intercreditor Agreement” means that certain Intercreditor Agreement dated as of the date hereof between
Borrower, Guarantors, Collateral Agent, Senior Lenders Collateral Agent, and certain other persons party or that may become party thereto from time to time. 
 “Interest Rate” means either the Term Loan A Interest Rate or the Term Loan B Interest Rate, as applicable. 

“Interest Reserve Account” means that certain restricted access deposit account in the name of Borrower
or Collateral Agent held with Wells Fargo Bank, N.A. having account number [*]; subject to a first priority Lien in favor of Collateral Agent pursuant to an Account Control Agreement with Collateral Agent giving exclusive control to Collateral Agent
so that the financial institution holding the Interest Reserve Account shall comply with all instructions of Collateral Agent without further consent by Borrower or any other Person. 

“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended to the date hereof and from
time to time hereafter, and any successor statute. 
 “Investment” means (i) any direct or
indirect purchase or other acquisition by the Borrower or any of its Subsidiaries of, or of a beneficial interest in, any of the Securities of any other Person (other than a Guarantor); (ii) any direct or indirect redemption, retirement,
purchase or other acquisition for value, by any Subsidiary of the Borrower from any Person (other than the Borrower or any Guarantor), of any Equity Interests of such Person; (iii) any direct or indirect loan, advance (other than advances to
employees for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contributions by the Borrower or any of its Subsidiaries to any other Person (other than the Borrower
or any Guarantor), including all indebtedness and accounts receivable from that other Person that are not current assets or did not arise from sales to that other Person in the ordinary course of business and (iv) all investments consisting of
any exchange traded or over the counter derivative transaction, entered into for speculative purposes. The amount of any Investment of the type described in clauses (i), (ii) and (iii) shall be the original cost of such Investment plus the
cost of all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect to such Investment. 

“Ivanpah I” means the 126 MW solar thermal project currently under development by Borrower and Solar
Partners II, LLC, as may be expanded or otherwise modified from time to time. 
 “Ivanpah II”
means the 133 MW solar thermal project currently under development by Borrower and Solar Partners I, LLC, as may be expanded or otherwise modified from time to time. 
  

	*	Confidential Treatment Requested 

  
 9 

 “Ivanpah III” means the 133 MW solar thermal project
currently under development by Borrower and Solar Partners VIII, LLC, as maybe expanded or otherwise modified from time to time. 
 “Joinder Agreement” means for each Guarantor, a completed and executed Joinder Agreement in substantially the form attached hereto as Exhibit D. 

“Joint Venture” means a joint venture, partnership or other similar arrangement, whether in corporate,
partnership or other legal form; provided, in no event shall any corporate Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party. 

“Lender” has the meaning given to it in the preamble to this Agreement. 

“Lien” means (i) any lien, mortgage, pledge, assignment, security interest, charge or encumbrance of
any kind (including any agreement to give any of the foregoing, any conditional sale or other title retention agreement, and any lease or license in the nature thereof) and any option, trust or other preferential arrangement having the practical
effect of any of the foregoing and (ii) in the case of Securities, any purchase option, call or similar right of a third party with respect to such Securities. 

“Loan” means the Advances made under this Agreement. 

“Loan Documents” means this Agreement, the Notes, the ACH Authorization, the Account Control Agreements,
the Joinder Agreements, the Warrant, the Intercreditor Agreement, the Collateral Documents and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby, as the same may from time to time be
amended, modified, supplemented or restated. 
 “Margin Stock” as defined in Regulation U of the
Board of Governors as in effect from time to time. 
 “Material Adverse Effect” means a material
adverse effect on and/or material adverse developments with respect to (i) the business, operations, properties, assets or financial condition of the Borrower, its Guarantors, BSOI and BSII, taken as a whole; (ii) the ability of Borrower
to fully and timely perform its Obligations as and when due; (iii) the legality, validity, binding effect or enforceability against Borrower of a Loan Document to which it is a party; or (iv) the rights, remedies and benefits available to,
or conferred upon, Lender under any Loan Document. For the avoidance of doubt, at all times prior to the Discharge of the Senior Indebtedness, if an event occurs that results, or is reasonably likely to result in, the termination of the DOE
Commitment Letters for one or more of the Projects at such time when the applicable Project Company is still a Guarantor hereunder, such an event shall constitute a Material Adverse Effect. After the Discharge of the Senior Indebtedness,
“Material Adverse Effect” means a material adverse effect upon: (i) the business, operations, properties, assets, or financial condition of Borrower and the Guarantors, taken as a whole; (ii) the ability of Borrower to perform
the Secured Obligations in accordance with the terms of the Loan Documents as and when due, or the ability of Lender to enforce any of its material rights or remedies with respect to the Secured Obligations; or (iii) any material portion of the
Collateral or Lender’s Liens on such Collateral or the priority of such Liens. 
 “Material Project
Document” means (a) each of the contracts or other arrangements to which the Borrower or any of the Project Companies is a party (other than the Loan Documents) (i) set forth on schedule 4.15 of the Senior Credit Agreement and
(ii) entered into after the Closing Date, in each case, for which breach, nonperformance, cancellation or failure to renew could reasonably be expected to have a Material Adverse Effect and (b) any Project equity commitment letters,
letters of intent relating to Project equity or other similar arrangements (i) set forth on schedule 4.15 of the Senior Credit Agreement and (ii) entered into after the Closing Date. 

“Maximum Rate” shall have the meaning assigned to such term in Section 2.3. 

  
 10 

 “Maximum Term Loan Amount” means Twenty-Five Million
Dollars ($25,000,000). 
 “Moody’s” means Moody’s Investor Services, Inc. 

“Morgan Stanley Facility” means that certain $25,000,000 Development Loan Agreement, dated as of
May 16, 2007, between Solar Partners II, LLC (as assignee of Solar Partners I, LLC), as borrower, and Morgan Stanley, as amended by that certain First Amendment to Development Loan Agreement, dated as of October 30, 2009, as it may be
amended, restated, supplemented or otherwise modified from time to time. 
 “Multiemployer Plan”
means any Employee Benefit Plan which is a “multiemployer plan” as defined in Section 3(37) of ERISA. 
 “Net Cash Proceeds” means an amount equal to the Cash proceeds received from the sale of any Equity Interests or other assets in any of the Guarantors, BSII or BSOI to any third party,
net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith (including reasonable legal expenses). 
 “Net Mark-to-Market Exposure” of a Person means, as of any date of determination, the excess (if any) of all unrealized losses over all unrealized profits of such Person arising from
Indebtedness of the type described in clause (xi) of the definition thereof. As used in this definition, “unrealized losses” means the fair market value of the cost to such Person of replacing such Indebtedness as of the date of
determination (assuming such Indebtedness were to be terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Indebtedness as of the date of determination (assuming such
Indebtedness were to be terminated as of that date). 
 “Note(s)” means a Term
Note. 
 “Organizational Documents” means (i) with respect to any corporation or
company, its certificate, memorandum or articles of incorporation, organization or association, as amended, and its by-laws, as amended, (ii) with respect to any limited partnership, its certificate or declaration of limited partnership, as
amended, and its partnership agreement, as amended, (iii) with respect to any general partnership, its partnership agreement, as amended, and (iv) with respect to any limited liability company, its articles of organization, as amended, and
its operating agreement, as amended. In the event any term or condition of this Agreement or any other Loan Document requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to any
such “Organizational Document” shall only be to a document of a type customarily certified by such governmental official. 
 “Obligee Guarantor” as defined in Section 8.7. 
 “PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001). 
 “PBGC” means the Pension Benefit Guaranty Corporation or any
successor thereto. 
 “Pension Plan” means any Employee Benefit Plan, other than a Multiemployer
Plan, which is subject to Section 412 of the Internal Revenue Code or Section 302 of MUSA. 

“Permitted Indebtedness” means any of the following: 

(a) the Obligations; 
 (b) Indebtedness of any Guarantor or any other Subsidiary to Borrower or any other Guarantor; provided, (i) all such Indebtedness shall be unsecured and subordinated in right of payment to the
payment in full of the Obligations and shall not require any scheduled amortization or other scheduled payments of 

  
 11 

 
principal prior to the Term Loan B Maturity Date, (ii) any payment by any such Subsidiary under any guaranty of the Obligations shall result in a pro tanto reduction of the amount of any
Indebtedness owed by such Subsidiary to Borrower or to any of its Subsidiaries for whose benefit such payment is made, (iii) such Indebtedness is permitted as an Investment under clause (d) of the definition of Permitted Investment;
(iv) such Indebtedness of any Subsidiary (except any Guarantor, BSII and BSOI) shall not exceed $2,500,000 prior to the Discharge of the Senior Indebtedness; and (v) such Indebtedness of BSII and BSOI shall not exceed $150,000,000 prior to
the Discharge of the Senior Indebtedness; provided, that after the Discharge of the Senior Indebtedness, such Indebtedness of any Guarantor, BSII, BSOI or any other Subsidiary that is not a Guarantor may exceed $150,000,000 so long as on the date
such Indebtedness is incurred, and after giving effect to the incurrence of such Indebtedness, Borrower or any Guarantor has available unrestricted Cash and marketable securities on hand in a Deposit Account with respect to which Lender has an
Account Control Agreement equal to at least 100% of the principal amount of the outstanding Advances; provided further, that (1) if any intercompany notes are executed in connection with such Indebtedness, they shall contain a legend to
the effect that such notes are subject to the security interest of Senior Lenders Collateral Agent for the benefit of the Senior Lenders, the Administrative Agent and the Lender (or upon the Discharge of Senior Indebtedness, only the Lender) and
(2) Borrower shall not transfer or otherwise permit these intercompany notes to come into possession of any third party other than Senior Lenders Collateral Agent for the benefit of the Senior Lenders, the Administrative Agent and the Lender
(or upon the Discharge of Senior Indebtedness, only the Lender); 
 (c) Subordinated Indebtedness in an aggregate
principal amount not to exceed $25,000,000; 
 (d) Indebtedness in the form of equipment purchases, payments for
services, vendor and supplier payments and similar debt incurred in the ordinary course of business, and Indebtedness which may be deemed to exist pursuant to any guaranties, performance, surety, statutory, appeal or similar obligations incurred in
the ordinary course of business (including, without limitation, letters of credit); 
 (e) Indebtedness in
respect of netting services, overdraft protections and otherwise in connection with deposit accounts; 
 (f)
guaranties in the ordinary course of business of the obligations of suppliers, customers and licensees of Borrower and its Guarantors; 
 (g) guaranties by Borrower of Indebtedness of a Guarantor or guaranties by a Guarantor of Indebtedness of Borrower or another Guarantor with respect, in each case, to Indebtedness otherwise permitted to
be incurred pursuant to Section 7.1; provided, that if the Indebtedness that is being guarantied is unsecured and/or subordinated to the Obligations, the guaranty shall also be unsecured and/or subordinated to the Obligations;

 (h) unsecured Indebtedness under the Morgan Stanley Facility not to exceed the outstanding principal amount of
$3.059 million (as of October 30, 2009), together with all accrued interest and fees thereon; 
 (i)
Indebtedness of Borrower or its Guarantors with respect to Capital Leases and purchase money Indebtedness of Borrower or its Guarantors; provided, any such Indebtedness shall be secured only by the asset acquired in connection with the
incurrence of such Indebtedness; provided further that (i) at all times prior to the Discharge of the Senior Indebtedness, such Indebtedness shall not to exceed at any time $10,000,000, or (ii) at all times after the Discharge of the
Senior Indebtedness, such Indebtedness may exceed $10,000,000 so long as on the date such Indebtedness is incurred, and after giving effect to the incurrence of such Indebtedness, Borrower or any Guarantor has available unrestricted Cash and
marketable securities on hand in a Deposit Account with respect to which Lender has an Account Control Agreement equal to at least 100% of the principal amount of the outstanding Advances; 

(j) Indebtedness by any of the Guarantors to the Federal Financing Bank or any other eligible holder incurred in
connection with obtaining a loan guarantee under the DOE Loan Guarantee Program, but only to the extent mandatory prepayments made in connection with a sale of Equity Interests described in Section 2.8; 

  
 12 

 (k) Other unsecured Indebtedness of Borrower and its Guarantors including
Indebtedness of Foreign Subsidiaries; provided, (i) at all times prior to the Discharge of the Senior Indebtedness, such unsecured Indebtedness shall not to exceed $500,000, or (ii) at all times after the Discharge of the Senior
Indebtedness, such unsecured Indebtedness may exceed $500,000 so long as on the date such Indebtedness is incurred, and after giving effect to the incurrence of such Indebtedness, Borrower or any Guarantor has available unrestricted Cash and
marketable securities on hand in a Deposit Account with respect to which Lender has an Account Control Agreement equal to at least 100% of the principal amount of the outstanding Advances; and 

(l) prior to the payment in full of the Senior Indebtedness, Indebtedness in favor of Senior Lenders existing under the
Senior Credit Agreement and Indebtedness existing under the other Senior Loan Documents in an aggregate amount not to exceed $82,500,000 less any payments of principal under the Senior Credit Agreement and the other Senior Loan Documents.

 “Permitted Investment” means: 

(a) Investments in Cash and Cash Equivalents; 

(b) equity Investments owned as of the Closing Date in any Guarantor and Investments made after the Closing Date in
Borrower and any Guarantor of Borrower; 
 (c) intercompany loans to the extent permitted under clause
(b) of the definition of Permitted Indebtedness; 
 (d) Consolidated Capital Expenditures and research and
development expenditures with respect to Borrower and the Guarantors generally made in accordance with the Business Plan; 
 (e) (i) Investments in Subsidiaries (other than Guarantors, BSII or BSOI), joint ventures and similar arrangements made after the Closing Date and prior to the Discharge of the Senior Indebtedness,
together with any Indebtedness incurred pursuant to clause (b)(iv) and clause (k) of the definition of Permitted Indebtedness; provided, (i) at all times prior to the Discharge of the Senior Indebtedness, the aggregate principal amount of
such Investments shall not to exceed $7,500,000, or (ii) at all times after the Discharge of the Senior Indebtedness, the aggregate principal amount of such Investments may exceed $7,500,000 so long as on the date such Investment is made, and
after giving effect to such Investment, Borrower or any Guarantor has available unrestricted Cash and marketable securities on hand in a Deposit Account with respect to which Lender has an Account Control Agreement equal to at least 100% of the
principal amount of the outstanding Advances; and 
 (f) Loans and advances to employees of Borrower and its
Subsidiaries made in the ordinary course of business in any aggregate principal amount not to exceed $250,000. 

“Permitted Liens” means the following: 

(g) Liens for Taxes if obligations with respect to such Taxes are being contested in good faith by appropriate proceedings
promptly instituted and diligently conducted and adequate reserves have been made in accordance with GAAP and Liens for Taxes not yet due and payable; 
 (h) statutory Liens of landlords, banks (and rights of set-off), of carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by law (other than any such Lien imposed
pursuant to Section 430(k) of the Internal Revenue Code or ERISA or a violation of Section 436 of the Internal Revenue Code), in each case incurred in the ordinary course of business (i) for amounts not yet overdue or (ii) for
amounts that are overdue and that (in the case of any such amounts overdue for a period in excess of five days) are being contested in good faith by appropriate proceedings, so long as such reserves or other appropriate provisions, if any, as shall
be required by GAAP shall have been made for any such contested amounts; 
 (i) Liens incurred in the ordinary
course of business in connection with workers’ compensation, unemployment insurance and other types of social security, or to secure the performance of tenders, 

  
 13 

 
statutory obligations, surety and appeal bonds, bids, leases, government contracts, trade contracts, performance and return-of-money bonds and other similar obligations (exclusive of obligations
for the payment of borrowed money or other Indebtedness), so long as no foreclosure, sale or similar proceedings have been commenced with respect to any portion of the Collateral on account thereof; 

(j) easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each
case which do not and will not interfere in any material respect with the ordinary conduct of the business of Borrower or any of its Guarantors; 
 (k) any interest or title of a lessor or sublessor under any lease of real estate permitted hereunder; 
 (l) purported Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases of personal property entered into in the ordinary course of business; 

(m) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods; 
 (n) any zoning or similar law or right reserved to or vested in any
governmental office or agency to control or regulate the use of any real property; 
 (o) non-exclusive outbound
licenses of patents, copyrights, trademarks and other rights in Intellectual Property granted by Borrower or any of its Guarantors in the ordinary course of business and not interfering in any respect with the ordinary conduct of or materially
detracting from the value of the Projects or the business of Borrower or such Guarantor; 
 (p) Liens securing
Indebtedness permitted pursuant to clause (i) of the definition of Permitted Indebtedness; provided, any such Lien shall encumber only the asset acquired with the proceeds of such Indebtedness; 

(q) Liens securing Indebtedness permitted by clause (j) of the definition of Permitted Indebtedness, but only to the
extent mandatory payments have been made in the amounts and on terms and conditions set forth in Section 2.11(c) of the Senior Credit Agreement; 
 (r) (i) Liens securing Indebtedness allowed under clause (c); provided such Liens are subordinated to the Liens in favor of Lender on terms reasonably satisfactory to Lender in its sole but reasonable
discretion, and (ii) Liens securing Indebtedness allowed under clause (d) of the definition of Permitted Indebtedness; provided, any such Lien shall encumber only the specific asset financed or cash deposits required under such
Indebtedness; 
 (s) Liens held by Senior Lenders Collateral Agent under the Senior Loan Documents; and

 (t) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by
Liens of the type described in clauses (a) through (l) above; provided, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being
extended, renewed or refinanced (as may have been reduced by any payment thereon) does not increase. 

“Permitted Transfers” means: 

(u) sales or other dispositions of assets that do not constitute Asset Sales; provided, after the Discharge of the Senior
Indebtedness, the Net Cash Proceeds from such sales or dispositions are deposited in a Deposit Account of Borrower or any Guarantor with respect to which Lender has an Account Control Agreement; 

  
 14 

 (v) disposals of obsolete, worn out or surplus property; 

(w) dissolution of inactive and Dormant Subsidiaries; 

(x) prior to the Discharge of the Senior Indebtedness, transfers of the existing Equity Interests of any Project Company
or any Project to to-be-formed wholly-owned, direct or indirect Subsidiaries of the Borrower so long as, (i) such wholly-owned Subsidiaries become Guarantors hereunder by executing a Joinder Agreement, (ii) Borrower pledges its Equity
Interests in such wholly-owned Subsidiaries to the Senior Lenders Collateral Agent for the benefit of the Senior Lenders, the Administrative Agent and the Lender (or upon the Discharge of Senior Indebtedness, only the Lender) as additional security
for the Obligations, and (iii) such transfer is done in connection with any anticipated sale of Equity Interests followed by, on the closing of such sale, the mandatory prepayment on terms and conditions set forth in Section 2.8;

 (y) prior to the Discharge of the Senior Indebtedness, sales of the existing Equity Interests of any Project
Company or any Project, provided that the proceeds from such sale are applied to prepay the Senior Indebtedness as set forth in Section 2.11(c) of the Senior Credit Agreement; 

(z) after the Discharge of the Senior Indebtedness, sales of the Equity Interests of any Subsidiary; provided that the Net
Cash Proceeds from such sale are deposited in a Deposit Account of Borrower or any Guarantor with respect to which Lender has an Account Control Agreement; 
 (aa) Investments made in accordance with Section 7.6; and 

(bb) Licenses granted by BSII or BSOI pursuant to Material Project Documents. 

“Person” means and includes natural persons, corporations, limited partnerships, general partnerships,
limited liability companies, limited liability partnerships, joint stock companies, Joint Ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and
Governmental Authorities. 
 “Pledge and Security Agreement” means that certain Pledge and
Security Agreement dated as of the date hereof among Borrower, each of the other grantors party thereto and Lender. 
 “Pledge Supplement” shall have the meaning ascribed to such term in the Pledge and Security Agreement. 

“Preferred Stock” means at any given time any equity security issued by Borrower that has any rights,
preferences or privileges senior to Borrower’s common stock. 
 “Project Companies” mean
each of Solar Partners I, LLC, Solar Partners II, LLC and Solar Partners VIII, LLC, direct owners of Ivanpah II, Ivanpah I, and Ivanpah III, respectively. 
 “Projects” means each of Ivanpah I, Ivanpah II and Ivanpah III. 
 “Prime Rate” means the Prime Rate that appears from time to time in the Western Edition of The Wall Street Journal. 

“Real Estate Asset” means each parcel of real property owned or leased by Borrower or for which Borrower
has an easement, right of way or has been granted a right to occupy or use by a third party. 

“Release” means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit,
disposal, discharge, dispersal, dumping, leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or disposal of any barrels, containers or other closed receptacles containing any Hazardous
Material), including the movement of any Hazardous Material through the air, soil, surface water or groundwater. 

  
 15 

 “Restricted Junior Payment” means (i) any dividend or
other distribution, direct or indirect, on account of any shares of any class of stock of Borrower or any of its Guarantors now or hereafter outstanding, except a dividend payable solely in shares of that class of stock to the holders of that class;
(ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of stock of Borrower or any of its Guarantors (or any direct or indirect parent thereof)
now or hereafter outstanding; (iii) any payment made to retire, or to obtain the surrender of any outstanding warrants, options or other rights to acquire shares of any class of stock of Borrower or any of its Guarantors now or hereafter
outstanding; and (iv) any payment or prepayment of principal of, premium, if any, or interest on or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any
indebtedness in clauses (c), (h) or (j) of the definition of Permitted Indebtedness. 

“S&P” means Standard & Poor’s, a Division of The McGraw-Hill Companies, Inc.

 “Secured Parties” has the meaning assigned to that term in the Pledge and Security Agreement.

 “Securities” means any stock, shares, partnership interests, voting trust certificates,
certificates of interest or participation in any profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general
any instruments commonly known as “securities” or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the
foregoing. 
 “Secured Obligations” means Borrower’s obligations under this Agreement and
any Loan Document, including any obligation to pay any amount now owing or later arising. 
 “Securities
Act” means the Securities Act of 1933, as amended from time to time, and any successor statute. 

“Solvency Certificate” means a Solvency Certificate of the chief financial officer of Borrower.

 “SBA” shall have the meaning assigned to such term in Section 6.14. 

“SBIC” shall have the meaning assigned to such term in Section 6.14. 

“SBIC Act” shall have the meaning assigned to such term in Section 6.14. 

“Senior Credit Agreement” means that certain Credit and Guaranty Agreement dated as of October 4,
2010 among Borrower, certain wholly-owned domestic subsidiaries of Borrower, as guarantors, the Senior Lenders, Goldman Sachs Bank USA, as Administrative Agent and Collateral Agent, and Goldman Sachs Bank, USA, Citicorp North America, Inc. and
Deutsche Bank AG, New York Branch, as Joint Lead Arrangers and Joint Lead Bookrunners. 
 “Senior
Indebtedness” means all obligations of every nature of Borrower and each Guarantor under the Senior Credit Agreement and the other Senior Loan Documents from time to time owed to the holders of Senior Indebtedness at that time, including
the Senior Lenders, the Senior Lenders Collateral Agent or any other agents under the Senior Loan Documents, or any of them or their respective Affiliates, in each case under the Senior Loan Documents, whether for principal, interest, fees,
expenses, indemnification or otherwise and all guarantees of any of the foregoing. “Senior Indebtedness” shall include all interest accrued or accruing (or which would, absent commencement of an Insolvency (as defined in the Intercreditor
Agreement) or Liquidation Proceeding (as defined 

  
 16 

 
in the Intercreditor Agreement), accrue) after commencement of an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant Senior Loan Document whether or not
the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. 

“Senior Lenders” means initially Goldman Sachs Bank USA, Citicorp North America, Inc. and Deutsche Bank
AG, New York Branch, and thereafter any other Person a party to the Senior Credit Agreement as a “lender”. 
 “Senior Lenders Collateral Agent” shall mean the “Collateral Agent” as such term is defined in the Senior Credit Agreement and/or the other Senior Loan Documents. 

“Senior Loan Documents” means the Senior Credit Agreement and the Credit Documents (as defined in the
Senior Credit Agreement), and each of the other agreements, documents and instruments providing for or evidencing any other Senior Indebtedness, and any other document or instrument executed or delivered at any time in connection with any Senior
Indebtedness, including any intercreditor or joinder agreement among holders of Senior Indebtedness, to the extent such are effective at the relevant time, as each may be amended, restated, supplemented, modified, renewed or extended from time to
time, including any refinancing, in each case in accordance with the provisions of the Intercreditor Agreement. 

“Solvent” means, with respect to Borrower, that as of the date of determination, both
(i) (a) the sum of Borrower’s debt (including contingent does not exceed the present fair saleable value of Borrower’s present assets; and (b) such Person has not incurred and does not intend to incur (until the Term Loan B
Maturity Date), or believe (nor should it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise); and (ii) such Person is “solvent” within the meaning
given that term and similar terms under the Bankruptcy Code and applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount
that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for
accrual under FASB 450 (Topic 450, “Contingencies”). 
 “Subordinated Indebtedness”
means Indebtedness subordinated to the Secured Obligations, with terms and conditions of such subordination being satisfactory to (x) prior to Discharge of Senior Indebtedness, Senior Lenders and Lender in their sole discretion, or
(y) after the Discharge of Senior Indebtedness, satisfactory to Lender in its sole discretion. 

“Subsequent Financing” means the closing of any Borrower financing which becomes effective after the
Closing Date and before an Initial Public Offering. 
 “Subsidiary” means, with respect to any
Person, any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled (without regard to the
occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies
thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other guarantors of that Person or a combination thereof, including each entity listed on Schedule 1 hereto; provided, in determining the
percentage of ownership interests of any Person controlled by another Person, no ownership interest in the nature of a “qualifying share” of the former Person shall be deemed to be outstanding. 

“Tax” means any present or future tax, levy, impost, duty, assessment, charge, fee, deduction or
withholding (together with interest, penalties and other additions thereto) of any nature and whatever called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed; provided, “Tax on the overall net
income” of a Person shall be construed as a reference to a tax imposed by the jurisdiction in which that Person is organized or in which that Person’s applicable principal office (and/or, in the case of a Lender, its lending office) is
located on all or part of the overall net income, profits or gains (whether worldwide, or only insofar as such 

  
 17 

 
income, profits or gains are considered to arise in or to relate to a particular jurisdiction, or otherwise) of that Person (and/or, in the case of a Lender, its applicable lending office).

 “Term Note” means each of the Term Loan A Note and the Term Loan B Note. 

“Term Loan A Advance” shall have the meaning assigned to such term in Section 2.1. 

“Term Loan A Interest Only Period” means the interest only period beginning on the Closing Date and
ending on the eleventh month after the Closing Date. 
 “Term Loan A Interest Rate” means for
any day, the greater of (i) the Prime Rate plus 7.75% and (ii) 11.00%. 
 “Term Loan A Maturity
Date” means December 28, 2011. 
 “Term Loan A Note” means a Promissory Note in
substantially the form of Exhibit B-1. 
 “Term Loan B Advance” shall have the meaning assigned to
such term in Section 2.2. 
 “Term Loan B Interest Rate” means for any day, the greater
of (i) the Prime Rate plus 9.55% and (ii) 12.80%. 
 “Term Loan B Maturity Date” means
June 28, 2012. 
 “Term Loan B Note” means a Promissory Note in substantially the form of
Exhibit B-2. 
 “Transaction Costs” means the fees, costs and expenses payable by Borrower or
any of Borrower’s Guarantors on or before the Closing Date in connection with the transactions contemplated by the Loan Documents. 
 “UCC” means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California; provided, that in the event that, by reason of mandatory provisions of
law, any or all of the attachment, perfection or priority of, or remedies with respect to, Lender’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction other than the
State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or
remedies and for purposes of definitions related to such provisions. 
 “Warrant” means the
warrant entered into in connection with the Loan issued to HTGC. 
 Unless otherwise specified, all references in this Agreement
or any Annex or Schedule hereto to a “Section,” “subsection,” “Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this
Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder
shall be computed in accordance with GAAP, consistently applied. Unless otherwise defined herein or in the other Loan Documents, terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them
in the UCC. 
 SECTION 2. THE LOAN 
 2.1 Term Loan A Advance. 
 (a) Advance. Subject to
the terms and conditions of this Agreement, HTGC will make, and Borrower agrees to draw, an Advance of $11,250,000 (the “Term Loan A Advance”) on the Closing Date. 

  
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 (b) Advance Request. To obtain the Term Loan A Advance, Borrower
shall complete, sign and deliver an Advance Request and Term Loan A Note to HTGC. HTGC shall fund the Term Loan A Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan A Advance is
satisfied as of the requested Advance Date. 
 (c) Interest. The principal balance of the Term Loan A
Advance shall bear interest thereon from such Advance Date at the Term Loan A Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan A Interest Rate will float and
change on the day the Prime Rate changes from time to time. 
 (d) Payment. During the Term Loan A
Interest Only Period, Borrower will pay interest on the Term Loan A Advance on the first day of each month, beginning the month after the Advance Date. The entire Term Loan A Advance principal balance and all accrued but unpaid interest hereunder,
shall be due and payable on Term Loan A Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. Lender will initiate debit entries to the
Borrower’s account as authorized on the ACH Authorization on each payment date of all periodic obligations payable to Lender under the Term Loan A Note. 
 2.2 Term Loan B Advance. 
 (a) Advances. Subject to
the terms and conditions of this Agreement, Hercules II will make, and Borrower agrees to draw, an Advance of $13,750,000 (the “Term Loan B Advance”) on the Closing Date. 

(b) Advance Request. To obtain the Term Loan B Advance, Borrower shall complete, sign and deliver an Advance
Request and Term Loan B Note to Hercules II. Hercules II shall fund the Term Loan B Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan B Advance is satisfied as of the requested
Advance Date. 
 (c) Interest. The principal balance of the Term Loan B Advance shall bear interest
thereon from such Advance Date at the Term Loan B Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan B Interest Rate will float and change on the day the Prime
Rate changes from time to time. 
 (d) Payment. Borrower will pay interest only on the Term Loan B Advance
on the first day of each month, beginning the month following the Closing Date through the 12th month following the Closing Date. On the first day of the 13th month following the Closing Date, Borrower shall repay $6,875,000 of the outstanding Term
Loan B Advance principal, plus all accrued and unpaid interest. Beginning on the first day of the 14th month following the Closing Date, Borrower will pay interest only on the outstanding Term Loan B Advance on the first day of each month from the
14th month following the Closing Date through the 18th month following the Closing Date. On the Term Loan B Maturity Date, Borrower shall repay the outstanding Term Loan B Advance principal balance and all accrued but unpaid interest due and
payable. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. Lender will initiate debit entries to the Borrower’s account as authorized on the ACH
Authorization on each payment date of all periodic obligations payable to Lender under the Term Loan B Note. 
 2.3 Maximum
Interest. Notwithstanding any provision in this Agreement, the Notes, or any other Loan Document, it is the parties’ intent not to contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law
that a court of competent jurisdiction shall deem applicable hereto (which under the laws of the State of California shall be deemed to be the laws relating to permissible rates of interest on commercial loans) (the “Maximum Rate”).
If a court of competent jurisdiction shall finally determine that Borrower has actually paid to Lender an amount of interest in excess of the amount that would have been payable if all of the Secured Obligations had at all times borne interest at
the Maximum Rate, then such excess interest actually paid by Borrower shall be applied as follows: first, to the payment of principal outstanding on the Notes; second, after all principal is repaid, to the payment of Lender’s accrued interest,
costs, expenses, professional fees and any 

  
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other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower. 

2.4 Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to (i) at all times
prior to the Discharge of the Senior Indebtedness, two percent (2%) of the past due amounts, and (ii) at all times after the Discharge of the Senior Indebtedness, five percent (5%) of the past due amount, shall be payable on demand. In
addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate
set forth in Section 2.1(c) or 2.2(c), as applicable, plus five percent (5%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest,
compounded at the rate set forth in Section 2.1(c), 2.2(c) or Section 2.4, as applicable. 
 2.5 Voluntary
Prepayment. At its option upon at least 5 Business Days prior notice to Lender, Borrower may prepay all, or any part, of the outstanding Advances. In the event of any partial prepayment of outstanding Advances, Borrower also agrees to pay a
pro-rated portion of the End of Term Charge provided for in Section 2.6 below, associated with such partial prepayment together with such prepayment. 
 2.6 End of Term Charge. On the earliest to occur of (i) the Term Loan A Maturity Date, (ii) the date that Borrower prepays all, or any part, of the outstanding Secured Obligations, or
(iii) the date that the Secured Obligations become due and payable, Borrower shall pay HTGC a charge of $625,000 (“End of Term Charge”) (less any portion of such charge previously paid by Borrower in connection with a partial
prepayment of outstanding Advances, as provided for in Section 2.5 above). Notwithstanding the required payment date of such charge, it shall be deemed earned by HTGC as of the Closing Date and subject to the terms of the Intercreditor
Agreement. 
 2.7 Interest Reserve Account. Interest payments and fees owed to Lender shall be made from (i) first,
the Interest Reserve Account, and (ii) second, to the extent that amounts on deposit in the Interest Reserve Account at such time are insufficient to cover the applicable payment of interest and fees, Cash from any other sources of Borrower and
the Guarantors. Borrower shall no longer be required to maintain the Interest Reserve Account, and all amounts maintained therein shall be immediately released to Borrower, upon the Discharge of the Senior Indebtedness so long as no Event of Default
has occurred and is continuing. 

  
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 2.8 Mandatory Prepayment to Senior Lenders Upon Sale of Equity Securities of Project
Companies. No later than five (5) Business Days following the date of receipt by any direct or indirect owner of any Guarantor, any direct or indirect owner of any Project, any Guarantor or any Project of any Cash proceeds from any direct
or indirect sale of any Equity Interests in any of the Guarantors or any of the Projects to any third party, Borrower shall prepay the aggregate principal amount of Loans (as defined in the Senior Credit Agreement) outstanding under the Senior Loan
Documents, together with all interest and fees accrued and unpaid thereon, the Loan Commitments (as defined under the Senior Credit Agreement) shall be permanently reduced (whether or not any of the Loans (as defined in the Senior Credit Agreement)
are outstanding) as set forth in Section 2.12(b) of the Senior Credit Agreement by an amount (in each case, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith including reasonable legal
expenses) equal to (i) in the event of a sale of Equity Interests in Solar Partners II, LLC or Ivanpah I, US $15 million, (ii) in the event of a sale of Equity Interests in Solar Partners I, LLC or Ivanpah II, US $25 million, and
(iii) in the event of a sale of Equity Interests in Solar Partners VIII, LLC or Ivanpah III, US $35 million; provided, however, that upon the sale of the last of the three Projects, Borrower shall also prepay the remainder of the
aggregate principal amount of Loans (as defined under the Senior Credit Agreement) outstanding under the Senior Credit Agreement and any other Indebtedness outstanding under the other Senior Loan Documents, together with all interest and fees
accrued and unpaid thereon. For the avoidance of doubt, if Borrower sells Equity Interests in Project Companies or the Projects for the respective amounts less than the amounts set forth above, Borrower shall compensate the Senior Lenders for the
difference, so that in no case shall the Senior Lenders receive the amounts less than the respective amounts set forth above. Notwithstanding the foregoing, nothing herein shall be construed so as to limit Borrower to engage in further equity
financing rounds. 
 SECTION 3. CONDITIONS PRECEDENT TO LOAN 

The obligations of Lender to make the Loans hereunder are subject to the satisfaction by Borrower of the following conditions:

 3.1 Advances. On or prior to the Closing Date: 

(a) Lender shall have received sufficient copies of each Loan Document as Lender shall reasonably request, originally
executed and delivered by each applicable Credit Party; 
 (b) Lender shall have received, in respect of each
Credit Party (i) sufficient copies of each Organizational Document as Lender shall reasonably request, and, to the extent applicable, certified as of the Closing Date by its secretary or an assistant secretary as being in full force and effect
without modification or amendment; (ii) signature and incumbency certificates of the officers of such Credit Party; (iii) resolutions of the Board of Directors or similar governing body of such Credit Party approving and authorizing the
execution, delivery and performance of this Agreement and the other Loan Documents to which it is a party or by which it or its assets may be bound as of the Closing Date and the Warrant and transactions evidenced thereby, certified as of the
Closing Date by its secretary or an assistant secretary as being in full force and effect without modification or amendment; and (iv) a good standing certificate from the applicable Governmental Authority of such Credit Party’s
jurisdiction of incorporation, organization or formation and in each jurisdiction in which it is qualified as a foreign corporation or other entity to do business, each dated the Closing Date or a recent date prior thereto; 

(c) The organizational structure and capital structure of the Borrower and its Subsidiaries shall be as set forth on
Schedule 4.2; 
 (d) In order to create in favor of Collateral Agent, for the benefit of Secured Parties, a
valid, perfected security interest (subordinated in favor of the Senior Lenders) in the personal property Collateral, each Credit Party shall have delivered to Collateral Agent: 

(i) evidence reasonably satisfactory to Collateral Agent of the compliance by each Credit Party with their obligations
under the Pledge and Security Agreement and the other Collateral Documents (including their obligations to deliver UCC financing statements and any Account Control Agreements); 

  
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 (ii) fully executed and notarized Intellectual Property Security Agreements,
in proper form for filing or recording in the U.S. Patent and Trademark Office, memorializing and recording the encumbrance of the Intellectual Property Assets listed in Schedule 5.2 to the Pledge and Security Agreement; and 

(iii) to the extent not otherwise previously taken in connection with the perfection by the Senior Lender Collateral
Agent, evidence that each Credit Party shall have taken or caused to be taken any other action, executed and delivered or caused to be executed and delivered any other agreement, document and instrument and made or caused to be made any other filing
and recording (other than as set forth herein) reasonably required by Collateral Agent; 
 (e) Lender shall have
received from the Borrower (i) the Historical Consolidated Financial Statements, (ii) pro forma consolidated balance sheets of the Borrower and its Subsidiaries as of October 31, 2010 and (iii) the Business Plan; 

(f) Lender and its counsel shall have received originally executed copies of the favorable written opinion of Orrick,
Herrington & Sutcliffe LLP, counsel for Credit Parties, as to such other matters (including with respect to the creation and perfection of the security interests) as Lender may reasonably request, dated as of the Closing Date and otherwise
in form and substance reasonably satisfactory to Lender (and each Credit Party hereby instructs such counsel to deliver such opinions to Lender); 
 (g) Payment of the Facility Charge (reduced by the application of the Commitment Fee on the Closing Date) and reimbursement of Lender’s current expenses reimbursable pursuant to this Agreement, which
amounts may be deducted from the Advances; 
 (h) On the Closing Date, Lender shall have received a Solvency
Certificate from the Borrower in form, scope and substance satisfactory to Lender, demonstrating that after giving effect to the consummation of the transactions described herein, Borrower and its Subsidiaries on a consolidated basis are and will be
Solvent; 
 (i) Lender shall have received the Intercreditor Agreement in form and substance reasonably
satisfactory to Lender; duly executed by the parties thereto; 
 (j) Senior Lenders shall have amended the Senior
Loan Documents or waived certain provisions with respect to the Senior Loan Documents to permit the Indebtedness and Liens under this Agreement and under the other Loan Documents in form and substance reasonably acceptable to Lender; 

(k) Interest Reserve Account. There shall have been established the Interest Reserve Account which shall have been
funded with the proceeds of the Advances on the Closing Date, and which shall be subject to an Account Control Agreement in favor of Collateral Agent with a balance equal to (i) twelve (12) months of the interest payments on the Term Loan
A Advances, (ii) eighteen (18) months of the interest payments on the Term Loan B Advances (in an amount assuming that the principal payment due on Term Loan A Maturity Date will have been paid), and (iii) the end of term charge
specified in Section 2.6; and 
 (l) Such other documents as Lender may reasonably request. 

3.2 All Advances. On each Advance Date: 
 (a) Lender shall have received (i) an Advance Request and a Note for the relevant Advance as required by Section 2.1(b), and Section 2.2(b), as applicable, each duly executed by
Borrower’s Chief Executive Officer or Chief Financial Officer, and (ii) any other documents Lender may reasonably request; 
 (b) As of such Advance Date, the representations and warranties contained herein and in the other Loan Documents shall be true and correct in all material respects on and as of the Advance Date to the
same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all

  
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material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof; 
 (c) Borrower shall be in compliance with all the
terms and provisions set forth herein and in each other Loan Document on its part to be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing; and 

(d) Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance
Date as to the matters specified in paragraphs (b) and (c) of this Section 3.2 and as to the matters set forth in the Advance Request. 
 3.3 No Default. As of the Closing Date and each Advance Date, (i) no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event
of Default and (ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing. 
 SECTION 4. REPRESENTATIONS AND WARRANTIES OF BORROWER 
 In order to
induce Lender to enter into this Agreement and to make each Advance to be made thereby, each Credit Party represents and warrants to Lender, on the Closing Date and on each Advance Date, that the following statements are true and correct.

 4.1 Organization; Requisite Power and Authority; Qualification. Each of the Borrower and its Subsidiaries (a) is
duly organized, validly existing and in good standing under the laws of its jurisdiction of organization as identified in Schedule 4.1, (b) has all requisite power and authority to own and operate its properties, to carry on its business as now
conducted and as proposed to be conducted, to enter into the Loan Documents to which it is a party and to carry out the transactions contemplated thereby, and (c) is qualified to do business and in good standing in every jurisdiction where its
assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had, and could not be reasonably expected to have, a Material Adverse
Effect. 
 4.2 Equity Interests and Ownership. The Equity Interests of each of the Borrower and its Subsidiaries has been
duly authorized and validly issued and is fully paid and non-assessable. Except as set forth on Schedule 4.2, as of the date hereof, there is no existing option, warrant, call, right, commitment or other agreement to which the Borrower or any of its
Subsidiaries is a party requiring, and there is no membership interest or other Equity Interests of the Borrower or any of its Guarantors outstanding which upon conversion or exchange would require, the issuance by the Borrower or any of its
Subsidiaries of any additional membership interests or other Equity Interests of the Borrower or any of its Subsidiaries or other Securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase, a membership
interest or other Equity Interests of the Borrower or any of its Subsidiaries. Schedule 4.2 correctly sets forth the ownership interest of the Borrower and each of its Subsidiaries in their respective Subsidiaries as of the Closing Date. 

4.3 Due Authorization. The execution, delivery and performance of the Loan Documents have been duly authorized by all necessary
action on the part of each Credit Party that is a party thereto. 
 4.4 No Conflict. The execution, delivery and
performance by each Credit Party of the Loan Documents to which they are parties and the consummation of the transactions contemplated by the Loan Documents do not and will not (a) violate (i) any provision of any law or any governmental
rule or regulation applicable to such Credit Party, (ii) any of the Organizational Documents of such Credit Party, or (iii) any order, judgment or decree of any court or other agency of government binding on such Credit Party;
(b) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of such Credit Party the breach of which could reasonably be expected to have a Material Adverse
Effect; (c) result in or require the creation or imposition of any Lien upon any of the properties or assets (whether tangible or intangible) of such Credit Party (other than any Liens created under any of the Loan Documents in favor

  
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Lender); or (d) require any approval of stockholders, members or partners or any approval or consent of any Person under any Contractual Obligation of such Credit Party, except for such
approvals or consents which will be obtained on or before the Closing Date and disclosed in writing to Lender. 
 4.5
Governmental Consents. The execution, delivery and performance by Credit Parties of the Loan Documents to which they are parties and the consummation of the transactions contemplated by the Loan Documents do not and will not require any
registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority, and except for filings and recordings with respect to the Collateral to be made, or otherwise delivered to Lender for filing and/or
recordation, as of the Closing Date. 
 4.6 Binding Obligation. Each Loan Document has been duly executed and delivered
by each Credit Party that is a party thereto and is the legally valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with its respective terms, except as may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability. 
 4.7 Historical Consolidated Financial Statements. The Historical Consolidated Financial Statements were prepared in conformity with GAAP and fairly present, in all material respects, the financial
position, on a consolidated basis, of the Persons described in such financial statements as at the respective dates thereof and statements of income and cash flows, on a consolidated basis, of the entities described therein for each of the periods
then ended, subject, in the case of any such unaudited consolidated financial statements, to changes resulting from audit and normal year-end adjustments. Except as set forth on Schedule 4.7, as of the Closing Date, neither the Borrower nor any of
its Subsidiaries has any contingent liability or liability for Taxes, long-term lease or unusual forward or long-term commitment that is not reflected in the Historical Consolidated Financial Statements or the notes thereto and which in any such
case is material in relation to the business, operations, properties, assets or financial condition of the Borrower and any of its Subsidiaries taken as a whole. 
 4.8 Business Plan. On and as of the Closing Date, the business plan attached as Exhibit F of the Borrower and its Subsidiaries (the “Business Plan”) is based on good faith
estimates and assumptions made by the management of the Borrower; provided, the Business Plan is not to be viewed as facts and that actual results during the period or periods covered by the Business Plan may differ from such Business Plan
and that the differences may be material; provided further, as of the Closing Date, management of the Borrower believed that the Business Plan was reasonable and attainable. 

4.9 No Material Adverse Effect. Since December 31, 2009, no event, circumstance or change has occurred that has caused or
evidences, or could reasonably be expected to result in, either in any case or in the aggregate, a Material Adverse Effect. 

4.10 Adverse Proceedings, Etc. There are no Adverse Proceedings, individually or in the aggregate, that could reasonably be
expected to have a Material Adverse Effect. Neither Borrower nor any of its Guarantors (a) is in violation of any applicable laws (including Environmental Laws) that, individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect, or (b) is subject to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal, state, municipal or other governmental department, commission,
board, bureau, agency or instrumentality, domestic or foreign, that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 4.11 Payment of Taxes. Except as otherwise permitted under Section 6.3, all Tax returns and reports of Borrower and each of its Subsidiaries required to be filed by any of them have been
timely filed, all such returns and reports are true, correct and complete in all material respects, and all Taxes shown on such tax returns to be due and payable and all assessments, fees and other governmental charges upon Borrower and its
Subsidiaries and upon their respective properties, assets, income, businesses and franchises which are due and payable have been paid when due and payable. There is no proposed Tax assessment against Borrower or any of its Subsidiaries which is not
being actively contested by Borrower or such Subsidiary in good faith and by appropriate proceedings; provided, such reserves or other appropriate provisions, if any, as shall be required in conformity with GAAP shall have been made or provided
therefor. 

  
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 4.12 Properties. 

(a) Title. Each of Borrower and its Guarantors has (i) good, sufficient and legal title to (in the case of fee
interests in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), (iii) valid licensed rights in (in the case of licensed interests in Intellectual Property) and
(iv) good title to (in the case of all other personal property), all of their respective properties and assets reflected in the Historical Consolidated Financial Statements referred to in Section 4.7 and in the most recent financial
statements delivered pursuant to Section 6.1, in each case except for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise permitted under Section 7.8. Except as permitted by
this Agreement, all such properties and assets are free and clear of Liens. 
 (b) Real Estate. As of the
Closing Date, Schedule 4.12(b) contains a true, accurate and complete list of (i) all Real Estate Assets and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or
extensions of any thereof) affecting each Real Estate Asset of any Credit Party, regardless of whether such Credit Party is the landlord or tenant (whether directly or as an assignee or successor in interest) under such lease, sublease or
assignment, in each case of clauses (i) and (ii), related to the Projects. 
 4.13 Environmental Matters.

 (a) Except as set forth on Schedule 4.13(a), Borrower and each of the Guarantors are in material compliance
with all Environmental Laws, which compliance includes, but is not limited to, the possession by Borrower and each of the Guarantors of all permits and other governmental authorizations required under all Environmental Laws, and compliance with the
terms and conditions thereof. Neither Borrower nor any of the Guarantors has received any communication (written or oral), whether from a governmental authority, citizens group, employee or otherwise, that alleges that Borrower or any of the
Guarantors is not in such compliance, and, there are no circumstances that may prevent or interfere with such full compliance in the future. All material Governmental Authorizations required under Environmental Laws for construction and operation of
the Projects have either been previously obtained and are in full force and effect, or if not yet obtained are anticipated to be obtained in the normal course of business, and are not anticipated to involve any material delays or costs beyond those
reflected in the Business Plan. 
 (b) There is no material Environmental Claim pending or threatened against
Borrower, any of the Guarantors or against any Person for whom Borrower or any of the Guarantors has legally or contractually retained or assumed liability. 
 (c) There are no past or present actions, activities, circumstances, conditions, events or incidents, including, without limitation, the Release of any Hazardous Material, that could form the basis of any
Environmental Claim against Borrower, any of the Guarantors or against any Person whose liability for any Environmental Claim Borrower or any of the Guarantors has retained or assumed either contractually or by operation of law, or otherwise result
in any costs or liabilities under Environmental Law, in each case that could be reasonably be expected to result in liabilities or costs to Borrower in excess of $500,000. 

(d) Borrower and each of the Guarantors has provided to Lender access to all assessments, reports, data, results of
investigations or audits, and other information that is in the possession of or reasonably available to Borrower and the Guarantors regarding significant environmental matters (as determined by Borrower in its reasonable discretion and in
consultation with Lender) pertaining to the environmental condition of or the business of the Borrower, or the current or potential future compliance (or noncompliance) by Borrower or any of the Guarantors with any Environmental Laws. 

4.14 No Defaults. Neither Borrower nor any of its Subsidiaries is in default in the performance, observance or fulfillment of any
of the obligations, covenants or conditions contained in any of its Contractual Obligations, and no condition exists which, with the giving of notice or the lapse of time or both, could constitute such a default, except where the consequences,
direct or indirect, of such default or defaults, if any, could not reasonably be expected to have a Material Adverse Effect. 

  
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 4.15 Material Project Documents. At all times prior to the Discharge of the Senior
Indebtedness, schedule 4.15 to the Senior Credit Agreement contains a true, correct and complete list of all the Material Project Documents in effect on the Closing Date (as updated by Borrower from time to time), and except as described thereon,
all such Material Project Documents are in full force and effect and no defaults or events of default currently exist or are expected thereunder as of the Closing Date. 
 4.16 Governmental Regulation. Neither Borrower nor any of its Subsidiaries is subject to regulation under the Federal Power Act or the Investment Company Act of 1940 or under any other federal or
state statute or regulation which may limit its ability to incur Indebtedness or which may otherwise render all or any portion of the Obligations unenforceable. Neither Borrower nor any of its Subsidiaries is a “registered investment
company” or a company “controlled” by a “registered investment company” or a “principal underwriter” of a “registered investment company” as such terms are defined in the Investment Company Act of 1940.

 4.17 Margin Stock. Neither Borrower nor any of its Subsidiaries owns any Margin Stock. 

4.18 Employee Matters. Neither the Borrower nor any of its Subsidiaries is engaged in any unfair labor practice that could
reasonably be expected to have a Material Adverse Effect. There is (a) no unfair labor practice complaint pending against the Borrower or any of its Subsidiaries, or to the best knowledge of the Borrower, threatened against any of them before
the National Labor Relations Board and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement that is so pending against the Borrower or any of its Subsidiaries or to the best knowledge of the Borrower,
threatened against any of them, (b) no strike or work stoppage in existence or threatened involving the Borrower or any of its Subsidiaries, and (c) to the best knowledge of the Borrower, no union representation question existing with
respect to the employees of the Borrower or any of its Subsidiaries and, to the best knowledge of the Borrower, no union organization activity that is taking place, except (with respect to any matter specified in clause (a), (b) or
(c) above, either individually or in the aggregate) such as is not reasonably likely to have a Material Adverse Effect. 

4.19 Employee Benefit Plans. The Borrower and each of its Subsidiaries are in compliance with all applicable provisions and
requirements of ERISA and the Internal Revenue Code and the regulations and published interpretations thereunder with respect to each Employee Benefit Plan, and have performed all their obligations under each Employee Benefit Plan. Each Employee
Benefit Plan which is intended to qualify under Section 401(a) of the Internal Revenue Code has received a favorable determination letter from the Internal Revenue Service indicating that such Employee Benefit Plan is so qualified and nothing
has occurred subsequent to the issuance of such determination letter which would cause such Employee Benefit Plan to lose its qualified status. No liability to the PBGC (other than required premium payments), the Internal Revenue Service, any
Employee Benefit Plan or any trust established under Title IV of ERISA has been or is expected to be incurred by the Borrower, any of its Subsidiaries or any of their ERISA Affiliates. No ERISA Event has occurred or is reasonably expected to occur.
Except to the extent required under Section 4980B of the Internal Revenue Code or similar state laws, no Employee Benefit Plan provides health or welfare benefits (through the purchase of insurance or otherwise) for any retired or former
employee of Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates. The present value of the aggregate benefit liabilities under each Pension Plan sponsored, maintained or contributed to by Borrower, any of its Subsidiaries or
any of their ERISA Affiliates (determined as of the end of the most recent plan year on the basis of the actuarial assumptions specified for funding purposes in the most recent actuarial valuation for such Pension Plan), did not exceed the aggregate
current value of the assets of such Pension Plan. As of the most recent valuation date for each Multiemployer Plan for which the actuarial report is available, the potential liability of Borrower, its Subsidiaries and their respective ERISA
Affiliates for a complete withdrawal from such Multiemployer Plan (within the meaning of Section 4203 of ERISA), when aggregated with such potential liability for a complete withdrawal from all Multiemployer Plans, based on information
available pursuant to Section 4221(e) of ERISA is zero. Borrower, each of its Subsidiaries and each of their ERISA Affiliates have complied with the requirements of Section 515 of ERISA with respect to each Multiemployer Plan and are not
in material “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a Multiemployer Plan. 
 4.20 Solvency. The Borrower and its Subsidiaries on a consolidated basis are and, upon the incurrence of any Loan by Borrower on any date on which this representation and warranty is made, will be,
Solvent. 

  
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 4.21 Compliance with Statutes, Etc. Each of the Borrower and its Subsidiaries is in
compliance with all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all Governmental Authorities, in respect of the conduct of its business and the ownership of its property (including compliance with all
applicable Environmental Laws with respect to any Real Estate Asset or governing its business and the requirements of any permits issued under such Environmental Laws with respect to any such Real Estate Asset or the operations of the Borrower or
any of its Subsidiaries), except such non-compliance that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 4.22 Disclosure. No representation or warranty of any Credit Party contained in any Loan Document or in any other documents, certificates or written statements furnished to Lender by or on behalf
of the Borrower or any of its Subsidiaries for use in connection with the transactions contemplated hereby contains any untrue statement of a material fact or omits to state a material fact (known to the Borrower, in the case of any document not
furnished by either of them) necessary in order to make the statements contained herein or therein not misleading in light of the circumstances in which the same were made. Any projections and pro forma financial information contained in such
materials are based upon good faith estimates and assumptions believed by the Borrower to be reasonable at the time made, it being recognized by Lender that such projections as to future events are not to be viewed as facts and that actual results
during the period or periods covered by any such projections may differ from the projected results. There are no facts known (or which should upon the reasonable exercise of diligence be known) to the Borrower (other than matters of a general
economic nature) that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect and that have not been disclosed herein or in such other documents, certificates and statements furnished to Lender for use
in connection with the transactions contemplated hereby. 
 4.23 Existing Indebtedness. As of the Closing Date, Borrower
has no existing Indebtedness, except for Indebtedness permitted under clauses (b), (d)-(i), (k) and (l) of the definition of Permitted Indebtedness. 
 4.24 PATRIOT Act. To the extent applicable, Borrower is in compliance, in all material respects, with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control
regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the PATRIOT Act. No part of the proceeds of the Loans will be
used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or
direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. 
 4.25 Eligibility Under DOE Commitment Letters and Grant. Borrower reasonably believes all conditions precedent set forth in the DOE Commitment Letters have either been met or will be timely met,
and, to the knowledge of Borrower, no event has occurred that would make Borrower ineligible to receive the Grant. 
 4.26
Dormant Subsidiaries. Each Dormant Subsidiary (a) is not actively engaged in any business, and (b) has no assets with a book value in excess of $1,500,000 or annual revenues in excess of $1,500,000. 

SECTION 5. INSURANCE; INDEMNIFICATION 
 5.1 Coverage. Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence form, against risks customarily insured against in Borrower’s line of
business. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury, and contractual liability per the terms of the indemnification agreement found in Section 5.3. Borrower must
maintain a minimum of $2,000,000 of commercial general liability insurance for each occurrence. Borrower has and agrees to maintain a minimum of $2,000,000 of directors and officers’ insurance for each occurrence and $5,000,000 in the
aggregate. So long as there are any Secured Obligations outstanding, Borrower shall also cause to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused, in an amount not less
than the full replacement cost of the Collateral, provided that such insurance may be subject to standard exceptions and deductibles. Borrower shall also carry and maintain a fidelity insurance policy in an amount not less than $100,000. 

  
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 5.2 Certificates. Within two weeks after the Closing Date, Borrower shall deliver to
Lender certificates of insurance that evidence Borrower’s compliance with its insurance obligations in Section 5.1 and the obligations contained in this Section 5.2. Borrower’s insurance certificate shall state Senior Lender
Collateral Agent (or upon the Discharge of Senior Indebtedness, only the Lender) is an additional insured for commercial general liability, an additional insured and a loss payee for all risk property damage insurance, subject to the insurer’s
approval, a loss payee for fidelity insurance, and a loss payee for property insurance and additional insured for liability insurance for any future insurance that Borrower may acquire from such insurer (subject, in each case, to the Lien in favor
of the Senior Lenders). Attached to the certificates of insurance will be additional insured endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance and fidelity. All certificates of insurance
will provide for a minimum of thirty (30) days advance written notice to Lender of cancellation or any other change adverse to Lender’s interests. Any failure of Lender to scrutinize such insurance certificates for compliance is not a
waiver of any of Lender’s rights, all of which are reserved. 
 5.3 Indemnity. Borrower agrees to indemnify and hold
Lender and its officers, directors, employees, agents, in-house attorneys, representatives and shareholders harmless from and against any and all claims, costs, expenses, damages and liabilities (including such claims, costs, expenses, damages and
liabilities based on liability in tort, including strict liability in tort), including reasonable attorneys’ fees and disbursements and other costs of investigation or defense (including those incurred upon any appeal), that may be instituted
or asserted against or incurred by Lender or any such Person as the result of credit having been extended, suspended or terminated under this Agreement and the other Loan Documents or the administration of such credit, or in connection with or
arising out of the transactions contemplated hereunder and thereunder, or any actions or failures to act in connection therewith, or arising out of the disposition or utilization of the Collateral, excluding in all cases claims resulting from
Lender’s gross negligence or willful misconduct. Borrower agrees to pay, and to save Lender harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all excise, sales or other similar taxes
(excluding taxes imposed on or measured by the net income of Lender) that may be payable or determined to be payable with respect to any of the Collateral or this Agreement. 
 SECTION 6. AFFIRMATIVE COVENANTS 
 Each Credit Party covenants and agrees that each
Credit Party shall perform until payment in full of the Obligations, and shall cause each of its Subsidiaries to perform, all covenants in this Section 6. 
 6.1 Financial Statements and Other Reports. Borrower will deliver to Lender: 
 (a) Monthly Financial Statements. 
 (i) As soon as
available, and in any event within 60 days after the end of each month of each Fiscal Year, commencing with the month in which the Closing Date occurs, the consolidated and consolidating balance sheets of Borrower and its Subsidiaries as at the end
of such month and the related consolidated (and with respect to statements of income, consolidating) statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such month and for the period from the beginning
of the then current Fiscal Year to the end of such month; and 
 (ii) As soon as available, and in any event
within 30 days after the end of each month of each Fiscal Year, commencing with the month in which the Closing Date occurs, the balance sheets of Borrower as at the end of such month and the related (and with respect to statements of income)
statements of income, stockholders’ equity and cash flows of Borrower for such month and for the period from the beginning of the then current Fiscal Year to the end of such month; 

(b) Annual Financial Statements. As soon as available, and in any event within 120 days after the end of each
Fiscal Year commencing with the Fiscal Year in which the Closing Date occurs, (i) the consolidated and consolidating balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated (and with
respect to statements of income, consolidating) statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such Fiscal Year; and (ii) with respect to such consolidated financial statements a report
thereon of an independent certified public accountants of recognized 

  
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national standing selected by Borrower, and reasonably satisfactory to Lender (which report and/or the accompanying financial statements shall be unqualified as to going concern and scope of
audit, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their
cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such
consolidated financial statements has been made in accordance with generally accepted auditing standards); 

(c) Compliance Certificate. Together with each delivery of financial statements of Borrower and its Subsidiaries
pursuant to Sections 6.1(a) and 6.1(b), a duly executed and completed Compliance Certificate substantially in the form of Exhibit E attached hereto and made a part hereof from a senior officer of Borrower; 

(d) Budgets and Financial Projections. As soon as available, and in any event within 30 days following approval by
Borrower’s Board of Directors, financial and business projections as well as budgets, operating plans and other financial information reasonably requested by Lender; 

(e) Statements of Reconciliation after Change in Accounting Principles. If, as a result of any change in
accounting principles and policies from those used in the preparation of the Historical Consolidated Financial Statements, the consolidated financial statements of Borrower and its Subsidiaries delivered pursuant to Section 6.1(a) or 6.1(b)
will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of
such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance reasonably satisfactory to Lender; 

(f) Notice of Default. Promptly upon any senior officer of Borrower or any of the Guarantors obtaining knowledge
(i) of any condition or event that constitutes a Default or an Event of Default or that notice has been given to Borrower or any of the Guarantors with respect thereto; (ii) that any Person has given any notice to Borrower or any of its
Subsidiaries or taken any other action with respect to any event or condition set forth in Section 10.2; or (iii) of the occurrence of any event or change that has caused or evidences, either in any case or in the aggregate, a Material
Adverse Effect, a certificate of an Authorized Officer specifying the nature and period of existence of such condition, event or change, or specifying the notice given and action taken by any such Person and the nature of such claimed Event of
Default, Default, default, event or condition, and what action Borrower has taken, is taking and proposes to take with respect thereto; 
 (g) Notice of Litigation. Promptly upon any senior officer of Borrower obtaining knowledge of (i) any Adverse Proceeding not previously disclosed in writing by Borrower to Lender, or
(ii) any development in any Adverse Proceeding that, in the case of either clause (i) or (ii), if adversely determined could be reasonably expected to have a Material Adverse Effect, or seeks to enjoin or otherwise prevent the consummation
of or to recover any damages or obtain relief as a result of, the transactions contemplated hereby, written notice thereof together with such other information as may be reasonably available to Borrower to enable Lender and their counsel to evaluate
such matters; 
 (h) ERISA. (i) Promptly upon becoming aware of the occurrence of or forthcoming
occurrence of any ERISA Event, a written notice specifying the nature thereof, what action Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates has taken, is taking or proposes to take with respect thereto and, when known,
any action taken or threatened by the Internal Revenue Service, the Department of Labor or the PBGC with respect thereto; and (ii) with reasonable promptness, copies of (1) each Schedule B (Actuarial Information) to the annual report (Form
5500 Series) filed by Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates with the Internal Revenue Service with respect to each Pension Plan; (2) all notices received by Borrower, any of its Subsidiaries or any of
their respective ERISA Affiliates from a Multiemployer Plan sponsor concerning an ERISA Event; and (3) copies of such other documents or governmental reports or filings relating to any Employee Benefit Plan as Lender shall reasonably request;

 (i) Updates to the Business Plan. At all times prior to the Discharge of the Senior Indebtedness, on
the seventh Business Day of each month, an updated Business Plan; 

  
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 (j) Notice Regarding Material Project Documents. At all times prior
to the Discharge of the Senior Indebtedness, promptly, and in any event within ten Business Days (i) after any Material Project Document of Borrower or any of its Subsidiaries is terminated or amended in a manner that is materially adverse to
Borrower or such Subsidiary, as the case may be, or (ii) any new Material Project Document is entered into, a written statement describing such event, with copies of such material amendments or new contracts, delivered to Lender (to the extent
such delivery is permitted by the terms of any such Material Project Document; provided, no such prohibition on delivery shall be effective if it were bargained for by Borrower or its applicable Subsidiary with the intent of avoiding compliance with
this Section 6.1(j)), and an explanation of any actions being taken with respect thereto; provided, further that in the event any Material Project Document is amended, amended and restated, or otherwise modified by separate agreement or any new
Material Project Document is entered into, in addition to the above requirements, promptly and in any event within ten Business Days after such occurrence Borrower shall provide Lender with an updated schedule 4.15 of the Senior Credit Agreement
listing all such Material Project Documents as of such date delivered to the Senior Lenders; 
 (k)
Information Regarding Collateral. (a) Borrower will furnish to Lender prompt written notice of any change (i) in any Credit Party’s corporate name, (ii) in any Credit Party’s identity or corporate structure,
(iii) in any Credit Party’s jurisdiction of organization or (iv) in any Credit Party’s Federal Taxpayer Identification Number or state organizational identification number. Borrower agrees not to effect or permit any change
referred to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for Collateral Agent to continue at all times following such change to have a valid, legal and perfected security interest
in all the Collateral as contemplated in the Collateral Documents. Borrower also agrees promptly to notify Collateral Agent if any material portion of the Collateral is damaged or destroyed; and 

(l) Notice of Discharge of Senior Indebtedness. Borrower shall furnish to Lender written notice of Discharge of the
Senior Indebtedness within five (5) Business Days prior to such discharge. 
 (m) Other Information.
Such other information and data with respect to Borrower or any of its Subsidiaries as from time to time may be reasonably requested by Lender. 

The executed Compliance Certificate may be sent via facsimile to Lender at (650) 473-9194 or via e-mail to tfissori@herculestech.com. All financial
statements required to be delivered pursuant to clauses (a), (b) and (c) above shall be sent via e-mail to financialstatements@herculestech.com with a copy to tfissori@herculestech.com provided, that if e-mail is not available or
sending such financial statements via e-mail is not possible, they shall be sent via facsimile to Lender at: (866) 468-8916, attention Chief Credit Officer. 
 6.2 Existence. Except as otherwise permitted under Section 7.8, each Credit Party will, and will cause each of its Subsidiaries to, at all times preserve and keep in full force and effect its
existence and all rights and franchises, licenses and permits material to its business; provided, no Credit Party (other than Borrower with respect to existence) or any of its Subsidiaries shall be required to preserve any such existence,
right or franchise, licenses and permits if such Person’s board of directors (or similar governing body) shall determine that the preservation thereof is no longer desirable in the conduct of the business of such Person, and that the loss
thereof is not disadvantageous in any material respect to such Person or to Lender. 
 6.3 Payment of Taxes and Claims.
Each Credit Party will, and will cause each of its Subsidiaries to, pay all Taxes imposed upon it or any of its properties or assets or in respect of any of its income, businesses or franchises before any penalty or fine accrues thereon, and all
claims (including claims for labor, services, materials and supplies) for sums that have become due and payable and that by law have or may become a Lien upon any of its properties or assets, prior to the time when any penalty or fine shall be
incurred with respect thereto; provided, no such Tax or claim need be paid if it is being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, so long as (a) adequate reserve or other
appropriate provision, as shall be required in conformity with GAAP shall have been made therefor, and (b) in the case of a Tax or claim which has or may become a Lien against any of the Collateral, such contest proceedings conclusively operate
to stay the sale of any portion of the Collateral to satisfy such Tax or claim. No Credit Party will, nor will it permit any of its Subsidiaries to, file or consent to the filing of any consolidated income tax return with any Person (other than
Borrower or any of its Subsidiaries). 

  
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 6.4 Maintenance of Properties. Each Credit Party will, and will cause each of its
Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear and tear excepted, all material properties used or useful in the business of Borrower and its Subsidiaries and from time to time will make
or cause to be made all appropriate repairs, renewals and replacements thereof. 
 6.5 Books and Records; Inspections.
Each Credit Party will, and will cause each of its Subsidiaries to, keep proper books of record and accounts in which full, true and correct entries in conformity in all material respects with GAAP shall be made of all dealings and transactions in
relation to its business and activities. Each Credit Party will, and will cause each of its Subsidiaries to, permit any authorized representatives designated by any Lender to visit and inspect any of the properties of any Credit Party and any of its
respective Subsidiaries, to inspect, copy and take extracts from its and their financial and accounting records, and to discuss its and their affairs, finances and accounts with its and their officers and independent public accountants, all upon
reasonable notice and at such reasonable times during normal business hours and as often as may reasonably be requested. 
 6.6
Compliance with Laws. Each Credit Party will comply, and shall cause each of its Subsidiaries and all other Persons, if any on or occupying any Facilities to comply, with the requirements of all applicable laws, rules, regulations and orders
of any Governmental Authority (including all Environmental Laws), noncompliance with which could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

6.7 Environmental. 
 (a) Environmental Disclosure. At all times prior to the Discharge of the Senior Indebtedness, Borrower will deliver to Lender: 

(i) as soon as practicable following receipt thereof, copies of all environmental assessments, audits, investigations,
analyses and reports of any kind or character, whether prepared by personnel of Borrower or any of its Project Companies or by independent consultants, governmental authorities or any other Persons, with respect to significant environmental matters
at any of the Projects or with respect to any Environmental Claims; 
 (ii) promptly upon the occurrence thereof,
written notice describing in reasonable detail (1) any material Release under any applicable Environmental Laws, (2) any material remedial action taken by Borrower or any other Person in response to (A) any Hazardous Materials
Activities the existence of which has a reasonable possibility of resulting in one or more Environmental Claims or (B) any Environmental Claims, (3) any conditions relating to a material alleged violation of Environmental Law or any
Governmental Authorization required thereunder and (4) any occurrence, condition or circumstance on any real property that could cause any Project or any part thereof to be subject to any material restrictions on the ownership, occupancy,
transferability or use thereof under any Environmental Laws; 
 (iii) as soon as practicable following the
sending or receipt thereof by Borrower or any of its Subsidiaries, a copy of any and all written communications and other material documents and information with respect to any matters for which notice is required pursuant to Section 6.7(a)(ii)
of this Agreement; 
 (iv) prompt written notice describing in reasonable detail (1) any proposed
acquisition of stock, assets, or property by Borrower or any of its Guarantors that could reasonably be expected to (A) expose Borrower or any of its Subsidiaries to, or result in, material Environmental Claims or (B) affect the ability of
Borrower or any of its Subsidiaries to maintain in full force and effect all material Governmental Authorizations required under any Environmental Laws for their respective operations and (2) any proposed action to be taken by Borrower or any
of its Subsidiaries to modify current operations in a manner that could reasonably be expected to subject Borrower or any of its Subsidiaries to any additional material obligations or requirements under any Environmental Laws; and 

(v) with reasonable promptness, such other documents and information as from time to time may be reasonably requested by
Lender in relation to any matters disclosed pursuant to this Section 6.7(a). 

  
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 (b) Hazardous Materials Activities, Etc. Borrower and each Project
Company shall promptly take any and all actions necessary to (i) cure any material violation of applicable Environmental Laws by such Credit Party, and (ii) make an appropriate response to any material Environmental Claim against such
Credit Party and discharge any obligations it may have to any Person thereunder. 
 6.8 Subsidiaries. At all times prior
to the Discharge of the Senior Indebtedness, in the event that any person becomes a guarantor under the Senior Credit Agreement, Borrower shall promptly cause such wholly-owned Domestic Subsidiary to become a Guarantor hereunder. At all times after
the Discharge of the Senior Indebtedness, Borrower (i) shall promptly (within 20 days after such discharge) cause all then existing Domestic Subsidiaries (other than any Dormant Subsidiary) to execute and deliver to Lender a Joinder Agreement
to become a Guarantor hereunder and a Pledge Supplement, and (ii) notify Lender of each Subsidiary formed subsequent to the Discharge in full of the Senior Indebtedness and, promptly ( within 20 days after the formation thereof) cause any
Domestic Subsidiary (other than a Dormant Subsidiary) to execute and deliver to Lender Joinder Agreement to become a Guarantor hereunder and a Pledge Supplement. In addition, after the Discharge of the Senior Indebtedness, Borrower shall cause one
or more Dormant Subsidiaries to execute and deliver to Lender a Joinder Agreement and a Pledge Supplement so that the aggregate book value of assets or annual revenues of the Dormant Subsidiaries on a consolidated basis shall not exceed $15,000,000
at any time. 
 6.9 Further Assurances. At any time or from time to time upon the request of Lender, each Credit Party
will, at its expense, promptly execute, acknowledge and deliver such further documents and do such other acts and things as Lender may reasonably request in order to effect fully the purposes of the Loan Documents. In furtherance and not in
limitation of the foregoing, each Credit Party shall take such actions as Lender may reasonably request from time to time to ensure that the Obligations are guaranteed by the Guarantors and are secured by substantially all of the assets of Borrower,
and the Guarantors and all of the outstanding Equity Interests of the Guarantors and the Borrower’s Subsidiaries (subject to limitations contained in the Loan Documents). 
 6.10 Reserved. 
 6.11 Pledge of Stock in BSII and BSOI. After the
Discharge of the Secured Indebtedness, Borrower shall, at its expense, promptly execute, acknowledge, deliver and record such further documents and do such other acts and things as may be reasonably required (consistent with the documents executed
and delivered to the Senior Lenders pursuant to Section 5.12 of the Senior Credit Agreement) to perfect the pledge of 66% of Equity Interests of Borrower in BSII and BSOI under Israeli law in favor of the Collateral Agent. 

6.12 Control Agreements for the Securities and Deposit Accounts. Prior to the Discharge of Senior Indebtedness, Borrower
shall maintain Account Control Agreements as required by Administrative Agent or Senior Lenders Collateral Agent. After the Discharge of Senior Indebtedness, neither Borrower nor any Guarantor shall maintain any Deposit Accounts, or accounts holding
Investment Property, except with respect to which Lender has an Account Control Agreement (other than Deposit Accounts or securities accounts (i) held at New Resource Bank holding assets with a market value of less than $500,000 in the
aggregate or (ii) held at City National Bank holding assets with a market value of less than $1,000,000 in the aggregate. 

6.13 Reserved. 
 6.14 SBA. Lender has received a license from the U.S. Small Business Administration (“SBA”) to extend loans as a small business investment company (“SBIC”)
pursuant to the Small Business Investment Act of 1958, as amended, and the associated regulations (collectively, the “SBIC Act”). Portions of the loan to Borrower will be made under the SBA license and the SBIC Act. Addendum 1 to
this Agreement outlines various responsibilities of Lender and Borrower associated with an SBA loan, and such Addendum 1 is hereby incorporated in this Agreement. 
 6.15 Use of Proceeds. The proceeds of the Loans, if any, shall be applied by Borrower to fund ongoing costs of the Projects, for general corporate purposes and for payment of Transaction Costs. No
portion of the proceeds of any Advance shall be used in any manner that causes or might cause such Advance or the application of 

  
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such proceeds to violate Regulation T, Regulation U or Regulation X of the Board of Governors or any other regulation thereof or to violate the Exchange Act 

6.16 Management Rights. Each Credit Party shall permit any representative that Lender authorizes, including its attorneys and
accountants, to inspect the Collateral and examine and make copies and abstracts of the books of account and records of such Credit Party at reasonable times and upon reasonable notice during normal business hours. In addition, any such
representative shall have the right to meet with management and officers of such Credit Party to discuss such books of account and records. In addition, Lender shall be entitled at reasonable times and intervals to consult with and advise the
management and officers of each Credit Party concerning significant business issues affecting such Credit Party. Such consultations shall not unreasonably interfere with such Credit Party’s business operations. The parties intend that the
rights granted Lender shall constitute “management rights” within the meaning of 29 C.F.R Section 2510.3-101(d)(3)(ii), but that any advice, recommendations or participation by Lender with respect to any business issues shall not be
deemed to give Lender, nor be deemed an exercise by Lender of, control over any Credit Party’s management or policies. 
 SECTION 7.
NEGATIVE COVENANTS 
 Each Credit Party, BSII and BSOI, if applicable, covenants and agrees that until payment in
full of the Obligations such Credit Party, BSII and BSOI (as applicable) shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 7. 

7.1 Indebtedness. No Credit Party, BSII or BSOI shall, directly or indirectly, create, incur, assume or guaranty, or otherwise
become or remain directly or indirectly liable with respect to any Indebtedness, except Permitted Indebtedness. 
 7.2
Liens. No Credit Party, BSII or BSOI shall, directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any property or asset of any kind (including any document or instrument in respect of goods or
accounts receivable) of Borrower or any of its Subsidiaries, whether now owned or hereafter acquired or licensed, or any income, profits or royalties therefrom, or file or permit the filing of, or permit to remain in effect, any financing statement
or other similar notice of any Lien with respect to any such property, asset, income, profits or royalties under the UCC of any State or under any similar recording or notice statute or under any applicable intellectual property laws, rules or
procedures, except Permitted Liens. 
 7.3 No Further Negative Pledges. Except with respect to restrictions by reason of
customary provisions restricting assignments, subletting or other transfers contained in leases (including Capital Leases and agreements with respect to purchase money financing of equipment and related assets), licenses and similar agreements
entered into in the ordinary course of business; provided that such restrictions are limited to the property or assets secured by such Liens or the property or assets subject to such leases, licenses or similar agreements, as the case may be)
no Credit Party, BSII or BSOI shall enter into any agreement prohibiting the creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired, to secure the Obligations; provided, however, that upon
the sale of a Project Company and a corresponding mandatory prepayment is made pursuant to Section 2.8 with respect to such Project Company, such Project Company will not be required to comply with this Section 7.3. 

7.4 Restricted Junior Payments. No Credit Party, BSII or BSOI shall, nor shall it permit any of its Subsidiaries or Affiliates
through any manner or means or through any other Person to, directly or indirectly, declare, order, pay, make or set apart, or agree to declare, order, pay, make or set apart, any sum for any Restricted Junior Payment except that any Subsidiary of
Borrower may declare and pay dividends or make other distributions ratably to its equity holders, or, if not ratably, in a method such that Borrower would receive more than its ratable share of such dividends or distributions. 

7.5 Restrictions on Distributions. Except as provided herein, no Credit Party, BSII or BSOI shall, nor shall it permit any of its
Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of Borrower to (a) pay dividends or make any other distributions on any of
such Subsidiary’s Equity Interests owned by Borrower or any other 

  
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Subsidiary of Borrower, (b) repay or prepay any Indebtedness owed by such Subsidiary to Borrower or any other Subsidiary of Borrower, (c) make loans or advances to Borrower or any other
Subsidiary of Borrower, or (d) transfer, lease or license any of its property or assets to Borrower or any other Subsidiary of Borrower other than (i) restrictions in agreements evidencing Indebtedness permitted by clause (i) of the
definition of Permitted Indebtedness, (ii) by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into in the ordinary
course of business, (iii) that are or were created by virtue of any transfer of, agreement to transfer or option or right with respect to any property, assets or Equity Interests not otherwise prohibited under this Agreement or
(iv) described on Schedule 7.5; provided, that after the Discharge of the Senior Indebtedness, neither BSII nor BSOI shall be required to comply with this Section 7.5. 

7.6 Investments. No Credit Party, BSII or BSOI shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make
or own any Investment in any Person, including any Joint Venture, except Permitted Investments. Notwithstanding the foregoing, in no event shall any Credit Party, BSII or BSOI make any Investment which results in or facilitates in any manner any
Restricted Junior Payment not otherwise permitted under the terms of Section 7.4. 
 7.7 Financial Covenants. At all
times prior to the Discharge of the Senior Indebtedness, Borrower, together with BSII, the Guarantors and BSOI, shall maintain collectively at least US$ fifteen (15) million in Cash or Cash Equivalents in its accounts at all times until
Obligations are paid in full. At all times after the Discharge of the Senior Indebtedness, Borrower and the Guarantors shall maintain collectively at all times Cash or Cash Equivalents in an aggregate principal amount of at least sixty percent
(60%) of the outstanding Advances in Deposit Accounts with respect to which Lender has an Account Control Agreement until the Secured Obligations are paid in full. 
 7.8 Fundamental Changes; Disposition of Assets; Acquisitions. No Credit Party, BSII or BSOI shall, nor shall it permit any of its Subsidiaries to, enter into any transaction of merger or
consolidation, or liquidate, windup or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease or license, exchange, transfer or otherwise dispose of, in one transaction or a series of transactions, all or any part of its
business, assets or property of any kind whatsoever (including any intellectual property rights held by BSII), whether real, personal or mixed and whether tangible or intangible, whether now owned or hereafter acquired, leased or licensed, or
acquire by purchase or otherwise (other than purchases or other acquisitions of inventory, materials and equipment and Capital Expenditures in the ordinary course of business) the business, property or fixed assets of, or stock or other evidence of
beneficial ownership of, any Person or any division or line of business or other business unit of any Person, except Permitted Transfers. 
 7.9 Disposal of Subsidiary Interests. Except for any sale of its interests in the Equity Interests of any of the Project Companies or a Project in compliance with the provisions of Section 7.8
and pledge of Equity Interests in compliance with clause (k) of the definition of Permitted Liens, Borrower shall not (a) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any Equity Interests of any of its
Subsidiaries, except to qualify directors if required by applicable law; or (b) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any Equity Interests of any of its Subsidiaries
except to another Credit Party (subject to the restrictions on such disposition otherwise imposed hereunder), or to qualify directors if required by applicable law and except for Permitted Transfers. 

7.10 Sales and Lease-Backs. At all times prior to the Discharge of the Senior Indebtedness, except in connection with any sale of
its interests in the Equity Interests of any of the Project Companies or a Project in compliance with the provisions of Section 7.8, no Credit Party, BSII or BSOI shall, directly or indirectly, become or remain liable as lessee or as a
guarantor or other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which such Credit Party, BSII or BSOI (as applicable) (a) has sold or transferred or is to sell or
to transfer to any other Person (other than Borrower or any of its Guarantors), or (b) intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by such Credit Party, BSII or BSOI to
any Person (other than to any of its Guarantors) in connection with such lease. 

  
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 7.11 Transactions with Shareholders and Affiliates. No Credit Party, BSII or BSOI
shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of
Borrower on terms that are less favorable to Borrower or that Subsidiary, as the case may be, than those that might be obtained at the time from a Person who is not such a holder or Affiliate; provided, the foregoing restriction shall not
apply to (a) any transaction between Borrower and any Guarantor; (b) reasonable and customary fees paid to members of the board of directors (or similar governing body) of Borrower and its Guarantors; (c) compensation arrangements for
officers and other employees of Borrower and its Guarantors entered into in the ordinary course of business; and (d) transactions described in Schedule 7.11; provided, that after the Discharge of the Senior Indebtedness, neither BSII nor BSOI
shall be required to comply with this Section 7.11. 
 7.12 Conduct of Business. From and after the Closing Date, no
Credit Party, BSII or BSOI shall, nor shall it permit any of its Subsidiaries to, engage in any business other than (i) the businesses engaged in by such Credit Party, BSII or BSOI (as applicable) on the Closing Date and similar or related
businesses and (ii) such other lines of business as may be consented to by Lender. 
 7.13 Amendments or Waivers of
Organizational Documents and Material Project Documents. At all times prior to the Discharge of the Senior Indebtedness, each Credit Party, BSII or BSOI shall, nor shall it permit any of its Subsidiaries to, agree to any material amendment,
restatement, supplement or other modification to, or waiver of; any of its Organizational Documents or any of its material rights under any Material Project Document after the Closing Date that could adversely impact in any material respects the
Lender or the Collateral Agent without in each case obtaining the prior written consent of Lender to such amendment, restatement, supplement or other modification or waiver; provided, however, that nothing herein shall be construed so
as to require any Agent’s or any Lender’s consent to amend the Organizational Documents of Borrower to increase the number of issued and authorized capital stock of the Borrower or to create one or more new class or series of preferred
capital stock of the Borrower. 
 7.14 Amendments or Waivers of with respect to Certain Indebtedness. No Credit Party,
BSII or BSOI shall amend the terms of any Indebtedness permitted under Section 7.1, or make any payment consistent with an amendment thereof, if the effect of such amendment is to (1) increase the interest rate on such indebtedness,
(ii) change (to earlier dates) any dates upon which payments of principal or interest are due thereon, (iii) change any event of default or condition to an event of default with respect thereto (other than to eliminate any such event of
default or increase any grace period related thereto) (iv) change the redemption, prepayment or defeasance provisions thereof, or (v) change the subordination provisions of such indebtedness (or of any guaranty thereof), if in any case the
effect of such amendment, together with all other amendments made, is materially adverse to any Credit Party or Lender; provided, that after the Discharge of the Senior Indebtedness, neither BSII nor BSOI shall be required to comply with this
Section 7.14. 
 7.15 Senior Indebtedness. At all times prior to the Discharge of the Senior Indebtedness, Borrower
will not, nor will permit any Subsidiary to, omit to give Lender prompt notice of any notice received from any Senior Lender, or any trustee therefor, or of any default under any agreement or instrument relating to any Senior Indebtedness. Borrower
agrees to keep Lender apprised of any amendments or changes to the Senior Loan Documents and any such amendments or changes shall be subject to Lender’s due diligence and satisfaction. Upon the payment in full of all Senior Indebtedness,
Borrower shall promptly demand that Senior Lenders Collateral Agent execute and deliver to Collateral Agent or Borrower such termination statements, releases and other documents as Collateral Agent may request to effectively release and take such
actions as may be required to release the Liens on the Collateral. 
 SECTION 8. GUARANTY 

8.1 Guaranty of the Obligations. Subject to the provisions of Section 8.2, Guarantors jointly and severally hereby
irrevocably and unconditionally guaranty to Lender for the ratable benefit of Lender the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise (including amounts that would become due but for the 

  
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operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”). 

8.2 Contribution by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing
Guarantors”), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this
Guaranty such that its Aggregate Payments exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in an amount sufficient to cause each Contributing
Guarantor’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (1) the Fair
Share Contribution Amount with respect to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid or distributed on or
before such date by all Funding Guarantors under this Guaranty in respect of the Guaranteed Obligations. “Fair Share Contribution Amount” means, with respect to a Contributing Guarantor as of any date of determination, the maximum
aggregate amount of the obligations of such Contributing Guarantor under this Guaranty that would not render its obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance under Section 548 of Title 11 of
the United States Code or any comparable applicable provisions of state law; provided, for purposes of calculating the “Fair Share Contribution Amount” with respect to any Contributing Guarantor for purposes of this
Section 8.2, any assets or liabilities of such Contributing Guarantor arising by virtue of any rights to subrogation, reimbursement or indemnification or any rights to or obligations of contribution hereunder shall not be considered as assets
or liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions
made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 8.2), minus (2) the aggregate amount of all payments received on or before such date by such Contributing
Guarantor from the other Contributing Guarantors as contributions under this Section 8.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable
Funding Guarantor, The allocation among Contributing Guarantors of their obligations as set forth in this Section 8.2 shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third
party beneficiary to the contribution agreement set forth in this Section 8.2. 
 8.3 Payment by Guarantors.
Subject to Section 8.2, Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right which Lender may have at law or in equity against any Guarantor by virtue hereof, that upon the
failure of Borrower to pay any of the Guaranteed Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for
the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), Guarantors will upon demand pay, or cause to be paid, in Cash, to Lender, an amount equal to the sum of the unpaid principal amount of
all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for Borrower’s becoming the subject of a case under the Bankruptcy Code, would have accrued on such
Guaranteed Obligations, whether or not a claim is allowed against Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Lender as aforesaid. 

8.4 Liability of Guarantors Absolute. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute,
independent and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than payment in full of the Guaranteed Obligations. In furtherance of the foregoing and
without limiting the generality thereof, each Guarantor agrees as follows: 
 (a) this Guaranty is a guaranty of
payment when due and not of collectability. This Guaranty is a primary obligation of each Guarantor and not merely a contract of surety; 
 (b) Lender may enforce this Guaranty upon the occurrence of an Event of Default notwithstanding the existence of any dispute between Borrower and Lender with respect to the existence of such Event of
Default; 

  
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 (c) the obligations of each Guarantor hereunder are independent of the
obligations of Borrower and the obligations of any other guarantor (including any other Guarantor) of the obligations of Borrower, and a separate action or actions may be brought and prosecuted against such Guarantor whether or not any action is
brought against Borrower or any of such other guarantors and whether or not Borrower is joined in any such action or actions; 
 (d) payment by any Guarantor of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or abridge any Guarantor’s liability for any portion of the Guaranteed
Obligations which has not been paid. Without limiting the generality of the foregoing, if Lender is awarded a judgment in any suit brought to enforce any Guarantor’s covenant to pay a portion of the Guaranteed Obligations, such judgment shall
not be deemed to release such Guarantor from its covenant to pay the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except to the extent satisfied by such Guarantor, limit, affect, modify or
abridge any other Guarantor’s liability hereunder in respect of the Guaranteed Obligations; 
 (e) Lender,
upon such terms as it deems appropriate, without notice or demand and without affecting the validity or enforceability hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability
hereunder, from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge,
or accept or refuse any offer of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate the payment of the same to the payment of any other obligations; (iii) request
and accept other guaranties of the Guaranteed Obligations and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or
modify, with or without consideration, any security for payment of the Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any other Guarantor) with respect to the Guaranteed
Obligations; (v) enforce and apply any security now or hereafter held by or for the benefit of Lender in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof, or exercise any other right or remedy that
Lender may have against any such security, in each case as Lender in its discretion may determine consistent herewith or any applicable security agreement, including foreclosure on any such security pursuant to one or more judicial or nonjudicial
sales, whether or not every aspect of any such sale is commercially reasonable, and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against any other Credit
Party or any security for the Guaranteed Obligations; and (vi) exercise any other rights available to it under the Loan Documents; and 
 (f) this Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction, limitation, impairment, discharge or termination for any reason
(other than payment in full of the Guaranteed Obligations), including the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (i) any failure or omission to assert or enforce or
agreement or election not to assert or enforce, or the stay or enjoining, by order of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy (whether arising under the Loan
Documents, at law, in equity or otherwise) with respect to the Guaranteed Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guaranteed Obligations; (ii) any rescission,
waiver, amendment or modification of, or any consent to departure from, any of the terms or provisions (including provisions relating to events of default) hereof, any of the other Loan Documents, or any agreement or instrument executed pursuant
thereto, or of any other guaranty or security for the Guaranteed Obligations, in each case whether or not in accordance with the terms hereof or such Loan Document, or any agreement relating to such other guaranty or security; (iii) the
Guaranteed Obligations, or any agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application of payments received from any source (other than payments received pursuant to the
other Loan Documents or from the proceeds of any security for the Guaranteed Obligations, except to the extent such security also serves as collateral for indebtedness other than the Guaranteed Obligations) to the payment of indebtedness other than
the Guaranteed Obligations, even though Lender might have elected to apply such payment to any part or all of the Guaranteed Obligations; (v) Lender’s consent to the change, reorganization or termination of the corporate structure or
existence of Borrower or any of its Guarantors and to any corresponding restructuring of the Guaranteed Obligations; (vi) any failure to perfect or continue perfection of a security interest in any collateral which secures

  
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any of the Guaranteed Obligations; (vii) any defenses, set-offs or counterclaims which Borrower may allege or assert against Lender in respect of the Guaranteed Obligations, including
failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury; and (viii) any other act or thing or omission, or delay to do any other act or thing, which may or might in any
manner or to any extent vary the risk of any Guarantor as an obligor in respect of the Guaranteed Obligations. 
 8.5 Waivers
by Guarantors. Each Guarantor hereby waives, for the benefit of Lender: (a) any right to require Lender, as a condition of payment or performance by such Guarantor, to (i) proceed against Borrower, any other guarantor
(including any other Guarantor) of the Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any security held from Borrower, any such other guarantor or any other Person, (iii) proceed against or have resort to any
balance of any Deposit Account or credit on the books of Lender in favor of any Credit party or any other Person, or (iv) pursue any other remedy in the power of Lender whatsoever; (b) any defense arising by reason of the incapacity, lack
of authority or any disability or other defense of Borrower or any other Guarantor including any defense based on or arising out of the lack of validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument relating
thereto or by reason of the cessation of the liability of Borrower or any other Guarantor from any cause other than payment in full of the Guaranteed Obligations; (c) any defense based upon any statute or rule of law which provides that the
obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; (d) any defense based upon Lender’s errors or omissions in the administration of the Guaranteed Obligations, except
behavior which amounts to bad faith; (e) (i) any principles or provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal or equitable discharge of such Guarantor’s obligations
hereunder, (ii) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement hereof, (iii) any rights to set-offs, recoupments and counterclaims, and (iv) promptness, diligence and
any requirement that Lender protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests, notices of protest, notices of dishonor and notices of any action or
inaction, including acceptance hereof, notices of default hereunder, or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed Obligations or any agreement related thereto, notices of any
extension of credit to Borrower and notices of any of the matters referred to in Section 8.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of
or exonerate guarantors or sureties, or which may conflict with the terms hereof. 
 8.6 Guarantors’ Rights of
Subrogation, Contribution, Etc. Until the Guaranteed Obligations shall have been indefeasibly paid in full, each Guarantor hereby waives any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have
against Borrower or any other Guarantor or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by
statute, under common law or otherwise and including (a) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Borrower with respect to the Guaranteed Obligations, (b) any
right to enforce, or to participate in, any claim, right or remedy that Lender now has or may hereafter have against Borrower, and (c) any benefit of, and any right to participate in, any collateral or security now or hereafter held by Lender.
In addition, until the Guaranteed Obligations shall have been indefeasibly paid in full, each Guarantor shall withhold exercise of any right of contribution such Guarantor may have against any other guarantor (including any other Guarantor) of the
Guaranteed Obligations, including any such right of contribution as contemplated by Section 8.2. Each Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement,
indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Borrower or against
any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Lender may have against Borrower, to all right, title and interest Lender may have in
any such collateral or security, and to any right Lender may have against such other guarantor. If any amount shall be paid to any Guarantor on account of any such subrogation, reimbursement, indemnification or contribution rights at any time when
all Guaranteed Obligations shall not have been finally and indefeasibly paid in full, such amount shall be held in trust for Lender and shall forthwith be paid over to Lender to be credited and applied against the Guaranteed Obligations, whether
matured or unmatured, in accordance with the terms hereof. 

  
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 8.7 Subordination of Other Obligations. Any Indebtedness of Borrower or any Guarantor
now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such Indebtedness collected or received by the Obligee Guarantor after an Event of
Default has occurred and is continuing shall be held in trust for Lender and shall forthwith be paid over to Lender to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the
liability of the Obligee Guarantor under any other provision hereof. 
 8.8 Continuing Guaranty. This Guaranty is a
continuing guaranty and shall remain in effect until all of the Guaranteed Obligations shall have been paid in full. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future transactions giving rise to any Guaranteed
Obligations. 
 8.9 Authority of Guarantors or Borrower. It is not necessary for Lender to inquire into the capacity or
powers of any Guarantor or Borrower or the officers, directors or any agents acting or purporting to act on behalf of any of them. 
 8.10 Financial Condition of Borrower. Any Credit Extension may be made to Borrower or continued from time to time, without notice to or authorization from any Guarantor regardless of the financial
or other condition of Borrower at the time of any such grant or continuation. Lender shall not have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of Borrower.
Each Guarantor has adequate means to obtain information from Borrower on a continuing basis concerning the financial condition of Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the
responsibility for being and keeping informed of the financial condition of Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of
Lender to disclose any matter, fact or thing relating to the business, operations or conditions of Borrower now known or hereafter known by Lender. 
 8.11 Bankruptcy, Etc. 
 (a) So long as any Guaranteed
Obligations remain outstanding, no Guarantor shall, without the prior written consent of Lender acting pursuant to the instructions of Lender, commence or join with any other Person in commencing any bankruptcy, reorganization or insolvency case or
proceeding of or against Borrower or any other Guarantor. The obligations of Guarantors hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or involuntary, involving
the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of Borrower or any other Guarantor or by any defense which Borrower or any other Guarantor may have by reason of the order, decree or decision of any court or
administrative body resulting from any such proceeding. 
 (b) Each Guarantor acknowledges and agrees that any
interest on any portion of the Guaranteed Obligations which accrues after the commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations ceases to accrue by operation of
law by reason of the commencement of such case or proceeding, such interest as would have accrued on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed Obligations
because it is the intention of Guarantors and Lender that the Guaranteed Obligations which are guaranteed by Guarantors pursuant hereto should be determined without regard to any rule of law or order which may relieve Borrower of any portion of such
Guaranteed Obligations. Guarantors will permit any trustee in bankruptcy, receiver, debtor in possession, assignee for the benefit of creditors or similar Person to pay Lender, or allow the claim of Lender in respect of, any such interest accruing
after the date on which such case or proceeding is commenced. 
 (c) In the event that all or any portion of the
Guaranteed Obligations are paid by Borrower, the obligations of Guarantors hereunder shall continue and remain in full force and effect or be reinstated, as the case may be, in the event that all or any part of such payment(s) are rescinded or
recovered directly or indirectly from Lender as a preference, fraudulent transfer or otherwise, and any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes hereunder. 

  
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 8.12 Discharge of Guaranty Upon Sale of Guarantor. 

(a) If all of the Equity Interests of any Guarantor or any of its successors in interest hereunder shall be sold or
otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and
released without any further action by Lender or any other Person effective as of the time of such Asset Sale. 

(b) Without limiting anything in clause (a), upon the sale of any Equity Interests in a Project Company or a Project and
subject to the terms and conditions set forth in Section 2.7(c), the Guaranty of such Guarantor shall be automatically discharged and released without any further action by any beneficiary, as set forth in clause (a). 

SECTION 9. RIGHT TO INVEST. Lender or its assignee or nominee that are Affiliates of Lender shall have the right, in Borrower’s
discretion, to participate in any Subsequent Financing in an amount of up to $1,000,000 on the same terms, conditions and pricing afforded to others participating in any such Subsequent Financing. 

SECTION 10. EVENTS OF DEFAULT 
 The occurrence of any one or more of the following events shall be an Event of Default: 
 10.1 Payments. Borrower fails to pay (i) when due any installment of principal of any Loan, whether at stated maturity, by acceleration, by notice of voluntary prepayment, by mandatory
prepayment or otherwise; or (ii) any interest on any Loan or any fee or any other amount due hereunder within five days after the due date; or 
 10.2 Default in Other Agreements. (i) Failure of any Credit Party or any of their respective Subsidiaries to pay when due any principal of or interest on or any other amount, including any
payment in settlement, payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in clause (a) of the definition of Permitted Indebtedness) in an individual principal amount (or Net Mark-to-Market Exposure) of
(x) prior to the Discharge of the Senior Indebtedness, $10,000,000 or more or with an aggregate principal amount (or Net Mark-to-Market Exposure) of $20,000,000 or more, or (y) after the Discharge of the Senior Indebtedness, $7,500,000 or
more or with an aggregate principal amount (or Net Mark-to-Market Exposure) of $15,000,000 or more, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default by any Credit Party with respect to any other term of
(1) one or more items of Indebtedness in the individual or aggregate principal amounts (or Net Mark-to-Market Exposure) referred to in clause (i) above or (2) any loan agreement, mortgage, indenture or other agreement relating to such
item(s) of Indebtedness, in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of that Indebtedness (or a trustee on behalf of such holder or
holders), to cause, that Indebtedness to become or be declared due and payable (or subject to a compulsory repurchase or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; or 

10.3 Breach of Certain Covenants. Failure of any Credit Party to perform or comply with any term or condition contained in
(i) Sections 6.1(a), 6.1(b), 6.1(e), 6.1(g) and 6.1(j), Section 6.2, Section 6.11, Section 6.12, Section 6.13, Section 6.14 or Section 7 prior to the Discharge of the Senior Indebtedness; or (ii) Sections 5,
6.1(a), 6.1(b), 6.1(e), 6.1(g) and 6.1(j), Section 6.2, Section 6.11, Section 6.12, Section 6.13, Section 6.14 or Section 7 after the Discharge of the Senior Indebtedness; or 

10.4 Breach of Representations, Etc. Any representation, warranty, certification or other statement made or deemed made by any
Credit Party in any Loan Document or in any statement or certificate at any time given by any Credit Party in writing pursuant hereto or thereto or in connection herewith or therewith shall be false in any material respect as of the date made or
deemed made; or 
 10.5 Material Adverse Effect. After the Discharge of the Senior Indebtedness, a circumstance has
occurred that constitutes a Material Adverse Effect; or 

  
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 10.6 Other Defaults Under Credit Documents. Any Credit Party shall default in the
performance of or compliance with any term contained herein or any of the other Loan Documents, other than any such term referred to in any other Section of this Section 10, and such default shall not have been remedied or waived (x) prior
to the Discharge of the Senior Indebtedness, within thirty (30) days after the earlier of (i) a senior officer of such Credit Party becoming aware of such default or (ii) receipt by Borrower of notice from Lender of such default, or
(y) after the Discharge of the Senior Indebtedness, within twenty (20) days after the earlier of (a) Lender has given notice of such default to Borrower, or (b) Borrower has actual knowledge of such default; 

10.7 Involuntary Bankruptcy; Appointment of Receiver, Etc. (a) A court of competent jurisdiction shall enter a decree or
order for relief in respect of Borrower or any of its Guarantors in an involuntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or
any other similar relief shall be granted under any applicable federal or state law; or (b) an involuntary case shall be commenced against Borrower or any of its Guarantors under the Bankruptcy Code or under any other applicable bankruptcy,
insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over
Borrower or any of its Guarantors, or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Borrower or any of its
Guarantors for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Guarantors, and any such event described
in this clause (b) shall continue for sixty days without having been dismissed, bonded or discharged; or 
 10.8
Voluntary Bankruptcy; Appointment of Receiver, Etc. (i) Borrower or any of its Guarantors shall have an order for relief entered with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other
applicable bankruptcy, insolvency or similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, or shall
consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Borrower or any of its Guarantors shall make any assignment for the benefit of creditors; or
(ii) Borrower or any of its Guarantors shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the board of directors (or similar governing body) of Borrower or any of its
Guarantors (or any committee thereof) shall adopt any resolution or otherwise authorize any action to approve any of the actions referred to herein or in Section 10.7; or 
 10.9 Attachments; Judgments. Any money judgment, writ or warrant of attachment or similar process involving (x) prior to the Discharge of the Senior Indebtedness (i) in any individual
case an amount in excess of $10,000,000 or (ii) in the aggregate at any time an amount in excess of $20,000,000, or (y) after the Discharge of the Senior Indebtedness (i) in any individual case an amount in excess of $7,500,000 or
(ii) in the aggregate at any time an amount in excess of $15,000,000 (in either case to the extent not adequately covered by insurance as to which a solvent and unaffiliated insurance company has acknowledged coverage) shall be entered or filed
against Borrower or any of its Guarantors or any of their respective assets and shall remain undischarged, unvacated, unbonded or unstayed for a period of sixty days (or in any event later than five days prior to the date of any proposed sale
thereunder); or 
 10.10 Dissolution. Any order, judgment or decree shall be entered against any Credit Party decreeing
the dissolution or split up of such Credit Party and such order shall remain undischarged or unstayed for a period in excess of thirty days; or 
 10.11 Employee Benefit Plans. (i) There shall occur one or more ERISA Events which individually or in the aggregate results in or might reasonably be expected to result in liability of
Borrower, any of its Guarantors or any of their respective ERISA Affiliates in excess of $500,000 during the term hereof; or (ii) there exists any fact or circumstance that reasonably could be expected to result in the imposition of a Lien or
security interest pursuant to Section 430(k) of the Internal Revenue Code or ERISA or a violation of Section 436 of the Internal Revenue Code; or 
 10.12 Change of Control. A Change of Control shall occur; or 

  
 41 

 10.13 Guaranties, Collateral Documents and other Loan Documents. At any time after
the execution and delivery thereof, (i) the Guaranty for any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force and effect (other than in accordance with its terms) or shall be declared to be null
and void or any Guarantor shall repudiate its obligations thereunder, (ii) this Agreement or any Collateral Document ceases to be in full force and effect (other than by reason of a release of Collateral in accordance with the terms hereof or
thereof or the satisfaction in full of the Obligations in accordance with the terms hereof) or shall be declared null and void, or Collateral Agent shall not have or shall cease to have a valid and perfected Lien in any Collateral purported to be
perfected under the Collateral Documents with the priority required by the relevant Collateral Document, in each case for any reason other than the failure of Collateral Agent or any Secured Party to take any action within its control, or
(iii) any Credit Party shall contest the validity or enforceability of any Credit Document in writing or deny in writing that it has any further liability, including with respect to future advances by Lenders, under any Credit Document to which
it is a party or shall contest the validity or perfection of any Lien in any Collateral purported to be covered by the Collateral Documents; or 
 10.14 Subordinated Indebtedness. Any Subordinated Indebtedness permitted hereunder or the guarantees thereof shall cease, for any reason, to be validly subordinated to the Obligations of the Credit
Parties hereunder or any Credit Party of any Affiliate of any Credit Party shall so assert; or 
 10.15 Termination of
Material Project Documents. At all times prior to the Discharge of the Senior Indebtedness, any Material Project Document has been terminated and a replacement thereof on the terms not materially adverse to the Lenders has not been entered into
within 60 days of such termination; or 
 10.16 DOE Commitment Letters’ Termination. At all times prior to the
Discharge of the Senior Indebtedness, any DOE Commitment Letter terminates on or prior to the maturity date of the Loans or 

10.17 Senior Indebtedness. At all times prior to the Discharge of the Senior Indebtedness, an Event of Default (as defined under
the Senior Loan Documents) has occurred under the Senior Loan Documents and the Senior Lenders have accelerated the loans under the Senior Loan Documents. 
 SECTION 11. REMEDIES 
 11.1 General. Subject to the terms and
conditions of the Intercreditor Agreement and Section 12.18, upon and during the continuance of any one or more Events of Default, (i) Lender may, at its option, accelerate and demand payment of all or any part of the Secured Obligations
and declare them to be immediately due and payable (provided, that upon the occurrence of an Event of Default of the type described in Sections 10.7 or 10.8, the Notes and all of the Secured Obligations shall automatically be accelerated and made
due and payable, in each case without any further notice or act), and (ii) Lender may notify any of Credit Party’s account debtors to make payment directly to Lender, compromise the amount of any such account on each Credit Party’s
behalf and endorse Lender’s name without recourse on any such payment for deposit directly to Lender’s account. Lender may exercise all rights and remedies with respect to the Collateral under the Loan Documents or otherwise available to
it under the UCC and other applicable law, including the right to release, hold, sell, lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the
Collateral. All Lender’s rights and remedies shall be cumulative and not exclusive. 
 11.2 Collection; Foreclosure.
Subject to the terms and conditions of the Intercreditor Agreement and Section 12.18, upon the occurrence and during the continuance of any Event of Default, Lender may, at any time or from time to time, apply, collect, liquidate, sell in one
or more sales, lease or otherwise dispose of, any or all of the Collateral, in its then condition or following any commercially reasonable preparation or processing, in such order as Lender may elect. Any such sale may be made either at public or
private sale at its place of business or elsewhere. Each Credit Party agrees that any such public or private sale may occur upon ten (10) calendar days’ prior written notice to Borrower. Lender may require a Credit Party to assemble the
Collateral and make it available to Lender at a place designated by Lender that is reasonably convenient to Lender and such Credit party. The proceeds of any sale, disposition or other realization upon all or any part of the Collateral shall be
applied by Lender in the following order of priorities: 

  
 42 

 First, to Lender in an amount sufficient to pay in full Lender’s costs and
professionals’ and advisors’ fees and expenses as described in Section 12.11; 
 Second, to Lender in an amount
equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the Default Rate interest), in such order and priority as Lender may choose in its sole discretion; and 

Finally, after the full, final, and indefeasible payment in Cash of all of the Secured Obligations, to any creditor holding a junior Lien
on the Collateral, or to Borrower or its representatives or as a court of competent jurisdiction may direct. 
 Lender shall be deemed to have
acted reasonably in the custody, preservation and disposition of any of the Collateral if it complies with the obligations of a secured party under the UCC. 
 11.3 No Waiver. Lender shall be under no obligation to marshal any of the Collateral for the benefit of Borrower or any other Person, and each Credit Party expressly waives all rights, if any, to
require Lender to marshal any Collateral. 
 11.4 Cumulative Remedies. The rights, powers and remedies of Lender hereunder
shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein shall not be construed as a waiver of or election of
remedies with respect to any other rights, powers and remedies of Lender. 
 SECTION 12. MISCELLANEOUS 

12.1 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement. 
 12.2 Notice. Except as otherwise provided
herein, any notice, demand, request, consent, approval, declaration, service of process or other communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to
the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery or delivery by an overnight express
service or overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows: 

 

	 	(a)	If to Lender: 

 HERCULES
TECHNOLOGY GROWTH CAPITAL, INC. 
 HERCULES TECHNOLOGY II, L.P. 

Legal Department 
 Attention: Chief Legal Officer and Todd Fissori 
 400 Hamilton Avenue, Suite 310

 Palo Alto, CA 94301 
 Facsimile: 650-473-9194 
 Telephone: 650-289-3068 

 

	 	(b)	If to Borrower: 

 BRIGHTSOURCE
ENERGY, INC. 
 1999 Harrison Street, Suite 2150 
 Oakland, CA 94612 

  
 43 

 Attention: Scott Rosebrook 

Facsimile: 510-550-8165 
 Telephone: 510-735-5737 
 or to such other address as each party may designate for
itself by like notice. 
 12.3 Entire Agreement; Amendments. This Agreement, the Notes, and the other Loan Documents
constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, letters, negotiations or other documents or
agreements, whether written or oral, with respect to the subject matter hereof or thereof (including Lender’s proposal letter dated November 5, 2010). None of the terms of this Agreement, the Notes or any of the other Loan Documents may be
amended except by an instrument executed by each of the parties hereto. 
 12.4 No Strict Construction. The parties
hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 12.5 No Waiver. The powers conferred upon Lender by this Agreement are solely to protect its rights hereunder and under the other Loan Documents and its interest in the Collateral and shall not
impose any duty upon Lender to exercise any such powers. No omission or delay by Lender at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by any Credit Party at
any time designated, shall be a waiver of any such right or remedy to which Lender is entitled, nor shall it in any way affect the right of Lender to enforce such provisions thereafter. 

12.6 Survival. All agreements, representations and warranties contained in this Agreement, the Notes and the other Loan Documents
or in any document delivered pursuant hereto or thereto shall be for the benefit of Lender and shall survive the execution and delivery of this Agreement and the expiration or other termination of this Agreement. 

12.7 Successors and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be
binding on Each Credit Party and its permitted assigns (if any). No Credit Party shall assign its obligations under this Agreement, the Notes or any of the other Loan Documents without Lender’s express prior written consent, and any such
attempted assignment shall be void and of no effect. Lender may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to any Credit Party, and all of such rights shall inure to the benefit of
Lender’s successors and assigns. 
 12.8 Governing Law. This Agreement, the Notes and the other Loan Documents have
been negotiated and delivered to Lender in the State of California, and shall have been accepted by Lender in the State of California. Payment to Lender by any Credit Party of the Secured Obligations is due in the State of California. This
Agreement, the Notes and the other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other
jurisdiction. 
 12.9 Consent to Jurisdiction and Venue. All judicial proceedings (to the extent that the reference
requirement of Section 12.10 is not applicable) arising in or under or related to this Agreement, the Notes or any of the other Loan Documents may be brought in any state or federal court located in the State of California. By execution and
delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara
County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement,
the Notes or the other Loan Documents. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 12.2, and
shall be deemed effective and received as set forth in Section 

  
 44 

 
12.2. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other
jurisdiction. 
 12.10 Mutual Waiver of Jury Trial / Judicial Reference. 

(a) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved
by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH CREDIT PARTY AND
LENDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY ANY CREDIT PARTY AGAINST LENDER OR
ITS ASSIGNEE OR BY LENDER OR ITS ASSIGNEE AGAINST ANY CREDIT PARTY. This waiver extends to all such Claims, including Claims that involve Persons other than any Credit Party and Lender; Claims that arise out of or are in any way connected to the
relationship between each Credit Party and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement, any other Loan Document. 

(b) If the waiver of jury trial set forth in Section 12.10(a) is ineffective or unenforceable, the parties agree that
all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a referee selected by the Presiding
Judge of the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. 

(c) In the event Claims are to be resolved by judicial reference, either party may seek from a court identified in
Section 12.9, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial
reference. 
 12.11 Professional Fees. Borrower promises to pay Lender’s fees and expenses necessary to finalize the
loan documentation, including but not limited to reasonable attorneys fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any and all reasonable attorneys’ and other professionals’ fees
and expenses (including fees and expenses of in-house counsel) incurred by Lender after the Closing Date in connection with or related to: (a) the Loan; (b) the administration, collection, or enforcement of the Loan; (c) the amendment
or modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, sale, lease, liquidation, or disposition of Collateral or the exercise of remedies with
respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to any Credit Party or the Collateral, and any appeal or review thereof; and (g) any bankruptcy,
restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to any Credit Party, the Collateral, the Loan Documents, including representing Lender in any adversary proceeding or contested
matter commenced or continued by or on behalf of any Credit Party’s estate, and any appeal or review thereof. 
 12.12
Publicity. Upon Borrower’s prior written consent (not to be unreasonably withheld), Lender may use Borrower’s name and logo, and include a brief description of the relationship between Borrower and Lender, in Lender’s marketing
materials. 
 12.13 Confidentiality. Lender acknowledges that certain items of Collateral and information provided to
Lender by Borrower are confidential and proprietary information of Any Credit Party, if and to the extent such information either (x) is marked as confidential by Borrower at the time of disclosure, or (y) should reasonably be understood
to be confidential (the “Confidential Information”). Accordingly, Lender agrees that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting Lender’s security interest in the
Collateral shall not be disclosed to any other person or entity in any manner whatsoever, in whole or in part, without the prior written consent of Such Credit Party, except that Lender may disclose any such information: (a) to its own
directors, officers, employees, accountants, counsel and other professional advisors and to its affiliates if Lender in its sole discretion determines that any such party should have access to such information in connection with such

  
 45 

 
party’s responsibilities in connection with the Loan or this Agreement and, provided that such recipient of such Confidential Information either (i) agrees to be bound by the
confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the disclosure of Confidential Information; (b) if such information is generally available to the
public; (c) if required or appropriate in any report, statement or testimony submitted to any governmental authority having or claiming to have jurisdiction over Lender; (d) if required or appropriate in response to any summons or subpoena
or in connection with any litigation, to the extent permitted or deemed advisable by Lender’s counsel; (e) to comply with any legal requirement or law applicable to Lender; (f) to the extent reasonably necessary in connection with the
exercise of any right or remedy under any Loan Document, including Lender’s sale, lease, or other disposition of Collateral after default; (g) to any participant or assignee of Lender or any prospective participant or assignee; provided,
that such participant or assignee or prospective participant or assignee agrees in writing to be bound by this Section 12.13 prior to disclosure; or (h) otherwise with the prior consent of Such Credit Party; provided, that any disclosure
made in violation of this Agreement shall not affect the obligations of Such Credit Party or any of its affiliates or any guarantor under this Agreement or the other Loan Documents. 

12.14 Assignment. Each Credit Party acknowledges and understands that Lender may sell and assign all or part of its interest
hereunder and under the Note(s) and Loan Documents to any person or entity (an “Assignee”). After such assignment the term “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee
shall be vested with all rights, powers and remedies of Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Lender shall retain all rights, powers and remedies hereby given. No such
assignment by Lender shall relieve any Credit Party of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s), it will endorse thereon a notation as to the portion of the principal of the Note(s),
which shall have been paid at the time of such transfer and as to the date to which interest shall have been last paid thereon. 

12.15 Revival of Secured Obligations. This Agreement and the Loan Documents shall remain in full force and effect and continue to
be effective if any petition is filed by or against any Credit Party for liquidation or reorganization, if any Credit Party becomes insolvent or makes an assignment for the benefit of creditors, if a receiver or trustee is appointed for all or any
significant part of any Credit Party’s assets, or if any payment or transfer of Collateral is recovered from Lender. The Loan Documents and the Secured Obligations and Collateral security shall continue to be effective, or shall be revived or
reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Lender, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be restored or
returned by, or is recovered from, Lender or by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment, performance, or transfer of Collateral
had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations shall be deemed, without any further action or
documentation, to have been revived and reinstated except to the extent of the full, final, and indefeasible payment to Lender in Cash. 
 12.16 Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate
counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 
 12.17 No Third Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or create any third-party beneficiary rights or any other rights of any
kind in any person other than Lender and any Credit Party unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal and solely between the Lender and the Borrower.

 12.18 Intercreditor Agreement. Notwithstanding anything herein to the contrary, the Lien and security interest granted
to Collateral Agent pursuant to the Pledge and Security Agreement and the exercise of any right or remedy by Collateral Agent hereunder or under the Pledge and Security Agreement are subject to the provisions of the Intercreditor Agreement. In the
event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control. 

  
 46 

 SECTION 13. COLLATERAL AGENT 

13.1 Appointment of Agent. Hercules Technology Growth Capital, Inc. is hereby appointed as Collateral Agent hereunder and under
the other Loan Documents and each Lender hereby authorizes Hercules Technology Growth Capital, Inc. to act as Collateral Agent in accordance with the terms hereof and the other Loan Documents. Collateral Agent hereby agrees to act in its capacity as
such upon the express conditions contained herein and the other Loan Documents, as applicable. The provisions of this Section 13 are solely for the benefit of Collateral Agent and Lenders and no Credit Party shall have any rights as a third
party beneficiary of any of the provisions thereof. 
 13.2 Powers and Duties. Each Lender irrevocably authorizes
Collateral Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Loan Documents as are specifically delegated or granted to Collateral Agent by the terms hereof and
thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Collateral Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. Collateral Agent may accept
payments of principal, interest, fees and expenses due under the Loan Documents from and deposits from, Borrower or any other Credit Party on the account or benefit for any Lender. 

(SIGNATURES TO FOLLOW) 

  
 47 

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

			
	BORROWER:
	
	BRIGHTSOURCE ENERGY, INC.
		
	Signature:	 	/s/ John F. Jenkins-Stark
	Print Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	GUARANTOR:
	
	BRIGHTSOURCE CONSTRUCTION MANAGEMENT, INC.
		
	Signature:	 	/s/ John F. Jenkins-Stark
	Print Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	GUARANTOR:
	
	SOLAR PARTNERS I, LLC
	
	By: BrightSource Energy, Inc. Managing Member
		
	Signature:	 	/s/ John F. Jenkins-Stark
	Print Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	GUARANTOR:
	
	SOLAR PARTNERS II, LLC
	
	By: BrightSource Energy, Inc. Managing Member
		
	Signature:	 	/s/ John F. Jenkins-Stark
	Print Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	GUARANTOR:
	
	SOLAR PARTNERS VIII, LLC
	
	By: BrightSource Energy, Inc. Managing Member
		
	Signature:	 	/s/ John F. Jenkins-Stark
	Print Name:	 	John F. Jenkins-Stark
	Title:	 	CFO

  
 1 

 Soley with respect to the obligations under Sections 7 and 12: 

 

			
	BRIGHTSOURCE INDUSTRIES (ISRAEL) LTD.
		
	Signature:	 	/s/ Israel Kroizer
	Print Name:	 	Israel Kroizer
	Title:	 	President
	
	BRIGHTSOURCE OPERATIONS (ISRAEL) LTD.
		
	Signature:	 	/s/ Israel Kroizer
	Print Name:	 	Israel Kroizer
	Title:	 	President

 Accepted in Palo Alto, California:

  

			
	LENDER:
	
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
		
	Signature:	 	/s/ K. Nicholas Martitsch
	Print Name:	 	K. Nicholas Martitsch
	Title:	 	Associate General Counsel

					
	
	 HERCULES TECHNOLOGY II, L.P.,
 a Delaware limited partnership

	
	By: Hercules Technology SBIC Management, LLC, its General Partner
		
	By:	 	Hercules Technology Growth Capital, Inc., its Manager
			
		 	By:	 	/s/ K. Nicholas Martitsch
		 	Name:	 	K. Nicholas Martitsch
		 	Its:	 	Associate General Counsel

  
 2 

 Table of Addenda, Exhibits and Schedules 

 

	Addendum 1:	SBA Provisions 

  

	Exhibit A:	Advance Request 

	    	Attachment to Advance Request 

  

	Exhibit B-1:	Term Loan A Note 

	Exhibit B-2:	Term Loan B Note 

  

	Exhibit C:	Name, Locations, and Other Information for Borrower 

  

	Exhibit D:	Joinder Agreement 

	Exhibit E:	Compliance Certificate 

  

	Exhibit F:	Business Plan 

  

	Exhibit G:	ACH Debit Authorization Agreement 

  

	Schedule 1	Subsidiaries 

	Schedule 4.1	Jurisdictions of Organization and Qualification 

	Section 4.2	Equity Interests and Ownership 

	Section 4.7	Contingent Obligations 

	Section 4.12(b)	Real Estate Assets 

	Section 4.13(a)	Environmental Matters 

	Schedule 7.5	Certain Restrictions on Subsidiary Distributions 

	Schedule 7.11	Certain Affiliate Transactions 

  
 1 

 ADDENDUM 1 to LOAN AND GUARANTY AGREEMENT 

(cc) Borrower’s Business. For purposes of this Addendum 1, Borrower shall be deemed to include its
“affiliates” as defined in Title 13 Code of Federal Regulations Section 121.103. Borrower represents and warrants to Lender (as of the Closing Date and for a period of one year thereafter) and covenants to Lender as follows:

  

	 	1.	Size Status. The total electric output for the preceding fiscal year of Borrower and its affiliates did not exceed 4 million megawatts;

  

	 	2.	No Relender. Borrower’s primary business activity does not involve, directly or indirectly, providing funds to others, purchasing debt obligations, factoring,
or long-term leasing of equipment with no provision for maintenance or repair; 

  

	 	3.	No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease
payments, or royalties). Borrower’s employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity; 

 

	 	4.	No Real Estate Business. Borrower is not classified under Major Group 65 (Real Estate) or Industry No. 1531 (Operative Builders) of the SIC Manual. The
proceeds of the Loan will not be used to acquire or refinance real property unless Borrower (x) is acquiring an existing property and will use at least 51 percent of the usable square footage for its business purposes; (y) is building or
renovating a building and will use at least 67 percent of the usable square footage for its business purposes; or (z) occupies the subject property and uses at least 67 percent of the usable square footage for its business purposes.

  

	 	5.	No Project Finance. Borrower’s assets are not intended to be reduced or consumed, generally without replacement, as the life of its business progresses, and the
nature of Borrower’s business does not require that a stream of cash payments be made to the business’s financing sources, on a basis associated with the continuing sale of assets (e.g., real estate development projects and oil and gas
wells). The primary purpose of the Loan is not to fund production of a single item or defined limited number of items, generally over a defined production period, where such production will constitute the majority of the activities of Borrower
(e.g., motion pictures and electric generating plants). 

  

	 	6.	No Farm Land Purchases. Borrower will not use the proceeds of the Loan to acquire farm land which is or is intended to be used for agricultural or forestry purposes,
such as the production of food, fiber, or wood, or is so taxed or zoned. 

  

	 	7.	No Foreign Investment. The proceeds of the Loan will not be used substantially for a foreign operation. At the time of the Loan, Borrower will not have more
than 49 percent of its employees or tangible assets located outside the United States. The representation in this subsection (7) is made only as of the date hereof and shall not continue for one year as contemplated in the first sentence
of this Section 1. 

 (dd) Small Business Administration Documentation. Lender acknowledges that
Borrower completed, executed and delivered to Lender SBA Forms 480, 652 and 1031 (Parts A and B) together with a business plan showing Borrower’s financial projections (including balance sheets and income and cash

  
 1 

 
flows statements) for the period described therein and a written statement (whether included in the purchase agreement or pursuant to a separate statement) from Lender regarding its intended use
of proceeds from the sale of securities to Lender (the “Use of Proceeds Statement”). Borrower represents and warrants to Lender that the information regarding Borrower and its affiliates set forth in the SBA Form 480,
Form 652 and Form 1031 and the Use of Proceeds Statement delivered as of the Closing Date is accurate and complete in all material respects. 
 (ee) Inspection. The following covenants contained in this Section (c) are intended to supplement and not to restrict the related provisions of the Loan Documents. Subject to
the preceding sentence, Borrower will permit, for so long as Lender holds any debt or equity securities of Borrower, Lender or its representative, at Lender’ expense, and examiners of the SBA to visit and inspect the properties and assets of
Borrower, to examine its books of account and records, and to discuss Borrower’s affairs, finances and accounts with Borrower’s officers, senior management and accountants, all at such reasonable times as may be requested by Lender or the
SBA. 
 (ff) Annual Assessment. Promptly after the end of each calendar year (but in any event prior to
February 28 of each year) and at such other times as may be reasonably requested by Lender, Borrower will deliver to Lender a written assessment of the economic impact of Lender’ investment in Borrower, specifying the full-time equivalent
jobs created or retained in connection with the investment, the impact of the investment on the businesses of Borrower in terms of expanded revenue and taxes, other economic benefits resulting from the investment (such as technology development or
commercialization, minority business development, or expansion of exports) and such other information as may be required regarding Borrower in connection with the filing of Lender’s SBA Form 468. Lender will assist Borrower with preparing
such assessment. In addition to any other rights granted hereunder, Borrower will grant Lender and the SBA access to Borrower’s books and records for the purpose of verifying the use of such proceeds. Borrower also will furnish or
cause to be furnished to Lender such other information regarding the business, affairs and condition of Borrower as Lender may from time to time reasonably request. 
 (gg) Use of Proceeds. Borrower will use the proceeds from the Loan only for general working capital purposes. Borrower will deliver to Lender from time to time promptly following Lender’s
request, a written report, certified as correct by Borrower’s Chief Financial Officer, verifying the purposes and amounts for which proceeds from the Loan have been disbursed. Borrower will supply to Lender such additional information and
documents as Lender reasonably requests with respect to its use of proceeds and will permit Lender and the SBA to have access to any and all Borrower records and information and personnel as Lender deems necessary to verify how such proceeds have
been or are being used, and to assure that the proceeds have been used for the purposes specified in Section 6.14. 
 (hh)
Activities and Proceeds. Neither Borrower nor any of its affiliates (if any) will engage in any activities or use directly or indirectly the proceeds from the Loan for any purpose for which a small business investment company is prohibited
from providing funds by the SBIC Act, including 13 C.F.R. §107.720. Without obtaining the prior written approval of Lender, Borrower will not change within 1 year of the date hereof, Borrower’s current business activity to a
business activity which a licensee under the SBIC Act is prohibited from providing funds by the SBIC Act. 
 (ii) Redemption
Provisions. Notwithstanding any provision to the contrary contained in the Certificate of Incorporation of Borrower, as amended from time to time (the “Charter”), if, pursuant to the redemption provisions contained in the
Charter, Lender is entitled to a redemption of its Warrant, such redemption (in the case of Lender) will be at a price equal to the redemption price set forth in the Charter (the “Existing Redemption Price”). If, however, Lender
delivers written notice to Borrower that the then current regulations promulgated under the SBIC Act prohibit payment of the Existing Redemption Price in the case of an SBIC (or, if applied, the Existing Redemption Price would cause the Series C
Preferred Stock to lose its classification as an “equity security” and Lender has determined that such classification is unadvisable), the amount Lender will be entitled to receive shall be the greater of (i) fair market value of the
securities being redeemed taking into account the rights and preferences of such securities plus any costs and expenses of the Lender incurred in making or maintaining the Warrant, and (ii) the Existing 

  
 2 

 
Redemption Price where the amount of accrued but unpaid dividends payable to the Lender is limited to Borrower’s earnings plus any costs and expenses of the Lender incurred in making or
maintaining the Warrant; provided, however, the amount calculated in subsections (i) or (ii) above shall not exceed the Existing Redemption Price. 
 (jj) Cost of Money. Notwithstanding any provision to the contrary contained in the Loan Documents, all interest and fees charged pursuant to the Loan Documents shall comply with the provisions of
13 C.F.R. § 107.855, including, without limitation, that such amounts shall not exceed the Cost of Money ceiling (as defined hereafter). The current Cost of Money ceiling for this Loan is fourteen percent. 

(kk) Compliance and Resolution. In the event of (i) a failure to comply with Borrower’s obligations under this
Addendum; or (ii) an assertion by any governmental regulatory agency (or Lender believes that there is a substantial risk of such assertion) of a failure to comply with Borrower’s obligations under this Addendum, then Lender shall promptly
assign the financing agreements from Hercules Technology II, L.P. to Hercules Technology Growth Capital, Inc. 

  
 3 

 EXHIBIT A 
 ADVANCE REQUEST 
  

					
	To:	 		 	December __, 2010

 Hercules Technology Growth
Capital, Inc. 
 Hercules Technology II, L.P. 
 400 Hamilton Avenue, Suite 310 
 Palo Alto, CA 94301 

Facsimile: 650-473-9194 
 Attn: Parag Shah 
 BRIGHTSOURCE ENERGY, INC. (“Borrower”) hereby requests from
Hercules Technology Growth Capital, Inc. and Hercules Technology II, L.P. (collectively “Lender”) two Advances in the aggregate amount of $25,000,000 (consisting of one Term Loan A Advance of $11,250,000 and one Term Loan B Advance
of $13,750,000 on December 28, 2010 (the “Advance Date”) pursuant to the Loan and Guaranty Agreement between Borrower and Lender (the “Agreement”). Capitalized words and other terms used but not otherwise
defined herein are used with the same meanings as defined in the Agreement. 
 Please: 

 

	 	(a)	Issue a check payable to Borrower              

or 
  

	 	(b)	Wire Funds to Borrower’s account              

 

					
	Bank:	  	 	  	
	Address:	  	 	  	
		  	 	  	
	ABA Number:	  	 	  	
	Account Number:	  	 	  	
	Account Name:	  	 	  	

 Borrower represents that the conditions precedent to the Advance set forth in the Agreement are
satisfied and shall be satisfied upon the making of such Advance, including but not limited to: (i) that no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing; (ii) that the
representations and warranties set forth in the Agreement and in the Warrant are and shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance with all the terms and provisions set forth in each Loan Document on its part to be observed or performed; and (iv) that as of
the Advance Date, no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default under the Loan Documents. Borrower understands and acknowledges that Lender has the right to
review the financial information supporting this representation and, based upon such review in its sole discretion, Lender may decline to fund the requested Advance. 
 Borrower hereby represents that Borrower’s corporate status and locations have not changed since the date of the Agreement or, if the Attachment to this Advance Request is completed, are as set forth
in the Attachment to this Advance Request. 
 Borrower agrees to notify Lender promptly before the funding of the Loan if any of
the matters which have been represented above shall not be true and correct on the Advance Date and if Lender has received no such notice 

  
 4 

 
before the Advance Date then the statements set forth above shall be deemed to have been made and shall be deemed to be true and correct as of the Advance Date. 

Executed as of December __, 2010. 
  

	
	BRIGHTSOURCE ENERGY, INC.
	
	SIGNATURE:
                                         
                   
	
	TITLE:
                                         
                               
	
	PRINT NAME:
                                         
                 

  
 5 

 ATTACHMENT TO ADVANCE REQUEST 

Dated: December __, 2010 

Borrower hereby represents and warrants to Lender that Borrower’s current name and organizational status is as follows: 

 

			
	 Name:
	  	BrightSource Energy, Inc.
		
	 Type of organization:
	  	Corporation
		
	 State of organization:
	  	Delaware

 Borrower hereby represents and warrants to
Lender that the street addresses, cities, states and postal codes of its current locations are as follows: 

  
 1 

 EXHIBIT B-1 
 SECURED TERM LOAN A PROMISSORY NOTE 
  

			
	 $11,250,000
	 	Advance Date: December __, 2010
		
		 	Maturity Date: _____ ___, 20[    ]

 FOR VALUE RECEIVED, BRIGHTSOURCE ENERGY, INC., a Delaware corporation, for itself and each of its Subsidiaries (the “Borrower”) hereby promises to pay to the order of Hercules Technology
Growth Capital, Inc., a Maryland corporation, or the holder of this Note (“Lender”) at 400 Hamilton Avenue, Suite 310, Palo Alto, CA 94301 or such other place of payment as the holder of this Secured Term Promissory Note (this
“Promissory Note”) may specify from time to time in writing, in lawful money of the United States of America, the principal amount of Eleven Million Two Hundred Fifty Thousand Dollars ($11,250,000) or such other principal amount as
Lender has advanced to Borrower, together with interest as set forth in the Loan Agreement as defined below. 
 This Promissory
Note is the Note referred to in, and is executed and delivered in connection with, that certain Loan and Guaranty Agreement dated December 28, 2010, by and between Borrower and Lender (as the same may from time to time be amended, modified or
supplemented in accordance with its terms, the “Loan Agreement”), and is entitled to the benefit and security of the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), to which reference is made for a
statement of all of the terms and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise defined herein. An
Event of Default under the Loan Agreement shall constitute a default under this Promissory Note. 
 Notwithstanding anything
herein to the contrary, the lien and security interest granted to the Collateral Agent pursuant to the Loan Documents and the exercise of any right or remedy by the Collateral Agent under the Loan Documents are subject to the provisions of the
Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and this Promissory Note, the terms of the Intercreditor Agreement shall govern and control. 

Borrower waives presentment and demand for payment, notice of dishonor, protest and notice of protest under the UCC or any applicable
law. Borrower agrees to make all payments under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or defense. This Promissory Note has been negotiated and delivered to Lender and is payable in the State
of California. This Promissory Note shall be governed by and construed and enforced in accordance with, the laws of the State of California, excluding any conflicts of law rules or principles that would cause the application of the laws of any other
jurisdiction. 
 BORROWER FOR ITSELF AND 
 ON BEHALF OF ITS SUBSIDIARIES:         BRIGHTSOURCE ENERGY, INC. 

 

	
	By:
                                         
                                   
	Name:
                                         
                              
	Title:
                                         
                                

 EXHIBIT B-2 
 SECURED TERM LOAN B PROMISSORY NOTE 
  

			
	 $13,750,000
	 	Advance Date: December __, 2010
		
		 	Maturity Date: _____ ___, 20[    ]

 FOR VALUE RECEIVED, BRIGHTSOURCE ENERGY, INC., a Delaware corporation, for itself and each of its Subsidiaries (the “Borrower”) hereby promises to pay to the order of Hercules Technology
II, L.P., a Delaware limited partnership or the holder of this Note (“Lender”) at 400 Hamilton Avenue, Suite 310, Palo Alto, CA 94301 or such other place of payment as the holder of this Secured Term Promissory Note (this
“Promissory Note”) may specify from time to time in writing, in lawful money of the United States of America, the principal amount of Thirteen Million Seven Hundred Fifty Thousand Dollars ($13,750,000) or such other principal amount
as Lender has advanced to Borrower, together with interest as set forth in the Loan Agreement as defined below. 
 This
Promissory Note is the Note referred to in, and is executed and delivered in connection with, that certain Loan and Guaranty Agreement dated December 28, 2010, by and between Borrower and Lender (as the same may from time to time be amended,
modified or supplemented in accordance with its terms, the “Loan Agreement”), and is entitled to the benefit and security of the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), to which reference is
made for a statement of all of the terms and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise defined
herein. An Event of Default under the Loan Agreement shall constitute a default under this Promissory Note. 
 Notwithstanding
anything herein to the contrary, the lien and security interest granted to the Collateral Agent pursuant to the Loan Documents and the exercise of any right or remedy by the Collateral Agent under the Loan Documents are subject to the provisions of
the Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and this Promissory Note, the terms of the Intercreditor Agreement shall govern and control. 

Borrower waives presentment and demand for payment, notice of dishonor, protest and notice of protest under the UCC or any applicable
law. Borrower agrees to make all payments under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or defense. This Promissory Note has been negotiated and delivered to Lender and is payable in the State
of California. This Promissory Note shall be governed by and construed and enforced in accordance with, the laws of the State of California, excluding any conflicts of law rules or principles that would cause the application of the laws of any other
jurisdiction. 
 BORROWER FOR ITSELF AND 
 ON BEHALF OF ITS SUBSIDIARIES:         BRIGHTSOURCE ENERGY, INC. 

 

	
	By:
                                         
                                   
	Name:
                                         
                              
	Title:
                                         
                                

 EXHIBIT C 
 NAME, LOCATIONS, AND OTHER INFORMATION FOR BORROWER 
 1. Borrower
represents and warrants to Lender that Borrower’s current name and organizational status as of the Closing Date is as follows: 
  

			
	Name:	  	BrightSource Energy, Inc.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization ID Number:	  	76-0836010

 2. Borrower represents and
warrants to Lender that for five (5) years prior to the Closing Date, Borrower did not do business under any other name or organization or form except the following: 

 

					
	 Previous Name (Type)
	 	 Date of Change
	 	 Change

	Luz II, LLC (limited liability company)	 	August 17, 2006	 	Change in name from “Luz II, LLC” to “Luz II, Inc.” and conversion from LLC to corporation
			
	Luz II, Inc. (corporation)	 	December 19, 2006	 	Change in name from “Luz II, Inc.” to “Bright Source Energy, Inc.”
			
	Bright Source Energy, Inc. (corporation)	 	May 15, 2007	 	Change in name from “Bright Source Energy, Inc.” to “BrightSource Energy, Inc.”

State of organization: Delaware 
 Borrower’s fiscal year ends on December 31 
 Borrower’s federal
employer tax identification number is: 76-0836010 
 3. Borrower represents and warrants to Lender that its chief executive office is located at
1999 Harrison Street, Suite 2150, Oakland, CA 94612. 

 EXHIBIT D 
 FORM OF JOINDER AGREEMENT 
 This Joinder Agreement (the “Joinder
Agreement”) is made and dated as of [            ], 20[    ], and is entered into by and between [Subsidiary Name], a
                     corporation (“Subsidiary”), and HERCULES TECHNOLOGY GROWTH CAPITAL, INC., a Maryland corporation
(“HTGC”) and HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership (“Hercules II”) (HTGC and Hercules II, collectively, the “Lender”). 

RECITALS 

A. Subsidiary’s Affiliate, BirghtSource Energy, Inc. (“Company”) [has entered/desires to enter] into that certain Loan and
Guaranty Agreement dated [Date], with Lender, as such agreement may be amended (the “Loan Agreement”), together with the other agreements executed and delivered in connection therewith; 

B. Subsidiary acknowledges and agrees that it will benefit both directly and indirectly from Company’s execution of the Loan
Agreement and the other agreements executed and delivered in connection therewith; 
 AGREEMENT 

NOW THEREFORE, Subsidiary and Lender agree as follows: 
  

	1.	The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized terms not defined herein shall have the meaning provided in the
Loan Agreement. 

  

	2.	By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of the Loan Agreement the same as if it were a Guarantor (as defined in the
Loan Agreement) under the Loan Agreement, mutatis mutandis, provided however, that Lender shall have no duties, responsibilities or obligations to Subsidiary arising under or related to the Loan Agreement or the other agreements executed and
delivered in connection therewith. Rather, to the extent that Lender has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the other agreements executed and delivered in connection therewith, those duties,
responsibilities or obligations shall flow only to Company and not to Subsidiary or any other person or entity. By way of example (and not an exclusive list): (a) Lender’s providing notice to Company in accordance with the Loan Agreement
or as otherwise agreed between Company and Lender shall be deemed provided to Subsidiary; (b) a Lender’s providing an Advance to Company shall be deemed an Advance to Subsidiary; and (c) Subsidiary shall have no right to request an
Advance or make any other demand on Lender. 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 [SIGNATURE PAGE TO JOINDER AGREEMENT] 

SUBSIDIARY: 

_____________________________________. 
 By: 
 Name: 

Title: 
 Address: 
 Telephone:
                                        

 Facsimile:
                                         
   
 HERCULES TECHNOLOGY GROWTH CAPITAL, INC. 

By:                   
                                         
               

Name:                   
                                         
           
 Title:
                                         
                              

Address: 
 400 Hamilton Ave., Suite 310 
 Palo Alto, CA 94301 

Facsimile: 650-473-9194 
 Telephone: 650-289-3060 
 HERCULES TECHNOLOGY II, L.P.,  

a Delaware limited partnership 
  

	 	By:	Hercules Technology SBIC Management, LLC, its General Partner 

  

	 	By:	Hercules Technology Growth Capital, Inc., its Manager 

 By:                                 
                                         

Name:                   
                                         
           
 Title:
                                         
                              

Address: 
 400 Hamilton Ave., Suite 310 
 Palo Alto, CA 94301 

Facsimile: 650-473-9194 
 Telephone: 650-289-3060 

 EXHIBIT E 
 COMPLIANCE CERTIFICATE 
 Hercules Technology Growth Capital, Inc. 

Hercules Technology II, L.P. 
 400 Hamilton
Avenue, Suite 310 
 Palo Alto, CA 94301 
 Reference is made to that certain Loan and Guaranty Agreement dated December 28, 2010 and all ancillary documents entered into in connection with such Loan and Guaranty Agreement all as may be
amended from time to time, (hereinafter referred to collectively as the “Loan Agreement”) between Hercules Technology Growth Capital, Inc. and Hercules Technology II, L.P. (collectively, “Hercules”) as Lender and
BRIGHTSOURCE ENERGY, INC. (the “Company”) as Borrower. All capitalized terms not defined herein shall have the same meaning as defined in the Loan Agreement. 
 The undersigned is an Officer of the Company, knowledgeable of all Company financial matters, and is authorized to provide certification of information regarding the Company; hereby certifies that in
accordance with the terms and conditions of the Loan Agreement, the Company is in compliance for the period ending                      of all
covenants, conditions and terms and hereby reaffirms that all representations and warranties contained therein are true and correct on and as of the date of this Compliance Certificate with the same effect as though made on and as of such date,
except to the extent such representations and warranties expressly relate to an earlier date, after giving effect in all cases to any standard(s) of materiality contained in the Loan Agreement as to such representations and warranties. Attached are
the required documents supporting the above certification. The undersigned further certifies that these are prepared in accordance with GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal
year end adjustments) and are consistent from one period to the next except as explained below. 
  

					
	REPORTING REQUIREMENT	 	REQUIRED	 	CHECK IF ATTACHED
			
	Interim Financial Statements	 	Monthly within 60 days	 	 ̈
	Interim Financial Statements (BrightSource, Inc.)	 	Monthly within 30 days	 	 ̈
	Audited Financial Statements	 	FYE within 120 days	 	 ̈

  

			
	Very Truly Yours,
	
	BRIGHTSOURCE ENERGY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title::	 	 

 EXHIBIT F 
 BUSINESS PLAN 
 [*] 

* Confidential Treatment Requested 

 EXHIBIT G 
 ACH DEBIT AUTHORIZATION AGREEMENT 
 Hercules Technology Growth Capital, Inc. 

Hercules Technology II, L.P. 
 400 Hamilton
Avenue, Suite 310 
 Palo Alto, CA 94301 
 Re: Loan and Guaranty Agreement dated December 28, 2010 between BrightSource Energy, Inc. (“Borrower”) and Hercules Technology Growth Capital, Inc. and Hercules Technology II, L.P.
(collectively, “Company”) (the “Agreement”) 
 In connection with the above referenced Agreement, the Borrower
hereby authorizes the Company to initiate debit entries for the periodic payments due under the Agreement to the Borrower’s account indicated below. The Borrower authorizes the depository institution named below to debit to such account.

  

					
	 DEPOSITORY NAME
	  		  	BRANCH
			
	 	  		  	 
	 CITY
	  		  	STATE AND ZIP CODE
			
	 	  		  	 
	 TRANSIT/ABA NUMBER
	  		  	ACCOUNT NUMBER
			
	 	  		  	 

 This authority will remain in full force and effect so long as any
amounts are due under the Agreement. 
 BRIGHTSOURCE ENERGY, INC. 
 By:
                                         
               
 Date:
                                         
            

 SCHEDULE 1 TO 
 LOAN AND GUARANTY AGREEMENT 
 SUBSIDIARIES 

The list of Subsidiaries provided in Schedule 4.1 is incorporated herein by reference thereto. 

 SCHEDULE 4.1 TO 
 LOAN AND GUARANTY AGREEMENT 
 JURISDICTIONS OF ORGANIZATION AND QUALIFICATION 

 

									
	 BrightSource Energy, Inc. Entity Name
	  	 State/Country
of
Incorporation
	  	 Date of

Incorporation
	  	 Ownership
	  	 Qualified in
Other States

					
	BrightSource Energy, Inc. (“BSE”)	  	Delaware	  	Aug 17, 2006	  	N/A	  	 California
 Arizona
 Nevada

					
	BrightSource Industries (Israel) Ltd. (“BSII”)	  	Israel	  	May 02, 2004	  	BSE-100%	  	—  
					
	BrightSource Operations (Israel) Ltd. (“BSOI”)	  	Israel	  	Sep 01, 2010	  	BSE-100%	  	—  
					
	BrightSource Construction Management, Inc. (“BSCM”)	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	 California
 Nevada

					
	BrightSource Energy Australia Pty Ltd	  	Australia	  	Feb 3, 2010	  	BSE-100%	  	—  
					
	Solar Partners I, LLC	  	Delaware	  	Nov 02, 2006	  	BSE-100%	  	California
					
	Solar Partners II, LLC	  	Delaware	  	Jan 04, 2007	  	BSE-100%	  	California
					
	Solar Partners III, LLC	  	Delaware	  	Jan 04, 2007	  	BSE-100%	  	California
					
	Solar Partners IV, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners V, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners VI, LLC	  	Delaware	  	Mar 26, 2007	  	BSE-100%	  	California
					
	Solar Partners VII, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners VIII, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	California
					
	Solar Partners IX, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	California
					
	Solar Partners X, LLC	  	Delaware	  	Apr 09,2007	  	BSE-100%	  	California

									
	 BrightSource Energy, Inc. Entity Name
	  	 State/Country
of
Incorporation
	  	 Date of

Incorporation
	  	 Ownership
	  	 Qualified in
Other States

	Solar Partners XI, LLC	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	Nevada
	Solar Partners XII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California New Mexico
	Solar Partners XIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
	Solar Partners XIV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 California
 New Mexico

	Solar Partners XV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
	Solar Partners XVI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
	Solar Partners XVII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
	Solar Partners XVIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
	Solar Partners XIX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
	Solar Partners XX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
	Solar Partners XXI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
	Solar Partners XXII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
	Solar Partners XXIII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
	Rebel Hidden Valley, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Nevada
	Wildcat Abrams, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
	Wildcat Jojoba, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
	Wildcat Harcuvar South, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Pinal West, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona

  

SCHEDULE
4.1-2 

									
	 BrightSource Energy, Inc. Entity Name
	  	 State/Country
of
Incorporation
	  	 Date of

Incorporation
	  	 Ownership
	  	 Qualified in
Other States

					
	Wildcat Quartzsite, LLC (formerly Wildcat Saguaro, LLC)	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat White Hills, LLC	  	Delaware	  	Jan 26, 2009	  	BSE-100%	  	Arizona

  

SCHEDULE
4.1-2 

 SCHEDULE 4.2 TO 
 LOAN AND GUARANTY AGREEMENT 
 EQUITY INTERESTS AND OWNERSHIP 

Part I 
  

									
	 BrightSource Energy, Inc. (“BSE”) Entity Name
	  	 State/Country
of
Incorporation
	  	 Date of

Incorporation
	  	 Ownership
	  	 Qualified in
Other States

					
	BrightSource Industries (Israel) Ltd. (“BSII”)	  	Israel	  	May 02, 2004	  	BSE-100%	  	—  
					
	BrightSource Operations (Israel) Ltd. (“BSOI”)	  	Israel	  	Sep 01, 2010	  	BSE-100%	  	—  
					
	BrightSource Construction Management, Inc. (“BSCM”)	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	 California
 Nevada

					
	BrightSource Energy Australia Pty Ltd	  	Australia	  	Feb 3, 2010	  	BSE-100%	  	—  
					
	Solar Partners I, LLC	  	Delaware	  	Nov 02, 2006	  	BSE-100%	  	California
					
	Solar Partners II, LLC	  	Delaware	  	Jan 04, 2007	  	BSE-100%	  	California
					
	Solar Partners III, LLC	  	Delaware	  	Jan 04, 2007	  	BSE-100%	  	California
					
	Solar Partners IV, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners V, LLC	  	Delaware	  	Mar 07, 2007	  	BSE-100%	  	California
					
	Solar Partners VI, LLC	  	Delaware	  	Mar 26, 2007	  	BSE-100%	  	California
					
	Solar Partners VII, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners VIII, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	California
					
	Solar Partners IX, LLC	  	Delaware	  	Apr 09, 2007	  	BSE-100%	  	California
					
	Solar Partners X, LLC	  	Delaware	  	Apr 09,2007	  	BSE-100%	  	California
					
	Solar Partners XI, LLC	  	Delaware	  	Sep 25, 2007	  	BSE-100%	  	Nevada
					
	Solar Partners XII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California New Mexico

									
	 BrightSource Energy, Inc. (“BSE”) Entity Name
	  	 State/Country

of
Incorporation
	  	 Date

of

Incorporation
	  	 Ownership
	  	 Qualified

in Other

States

	Solar Partners XIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
					
	Solar Partners XIV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	 California
 New Mexico

					
	Solar Partners XV, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XVI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	New Mexico
					
	Solar Partners XVII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XVIII, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XIX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XX, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XXI, LLC	  	Delaware	  	Oct 10, 2007	  	BSE-100%	  	California
					
	Solar Partners XXII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
					
	Solar Partners XXIII, LLC	  	Delaware	  	Mar 6, 2009	  	BSE-100%	  	California
					
	Rebel Hidden Valley, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Nevada
					
	Wildcat Abrams, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Jojoba, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Harcuvar South, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Pinal West, LLC	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona
					
	Wildcat Quartzsite, LLC (formerly Wildcat Saguaro, LLC)	  	Delaware	  	Sep 12, 2008	  	BSE-100%	  	Arizona

  

SCHEDULE 4.2-2 

									
	 BrightSource Energy, Inc.

(“BSE”) Entity Name
	  	 State/Country

of
Incorporation
	  	 Date of

Incorporation
	  	 Ownership
	  	 Qualified

in Other

States

	 Wildcat White Hills, LLC
	  	Delaware	  	Jan 26, 2009	  	BSE-100%	  	Arizona

 Part II 

 

	 	1.	The options outstanding for current employees are 8,746,833 shares of BSE common stock. Total options outstanding including consultants, directors and others is
9,082,821 shares of BSE common stock. 

  

	 	2.	Certain investors currently have warrants to purchase a total of 60,387 shares of BSE Series A Preferred Stock outstanding. 

  

SCHEDULE 4.2-3 

 SCHEDULE 4.7 TO 
 LOAN AND GUARANTY AGREEMENT 
 LONG-TERM LEASES AND COMMITMENTS 

Pursuant to a Letter Agreement between BrightSource Industries (Israel) Ltd. (“BSII”) and Bechtel Power Corporation (“BPC”) effective
as of December 1, 2009, BSII is subject to a contingent liability up to $3 million if BSII (or any affiliate of BSII or BrightSource Energy, Inc.) does not engage BPC as an EPC for another project within three years of the date of the Letter
Agreement. 

 SCHEDULE 4.12(b) TO 
 LOAN AND GUARANTY AGREEMENT 
 REAL ESTATE ASSETS 

Right-Of-Way Lease/Grant (Serial Number CACA-49504) between Solar Partners II, LLC and the United States Department of the Interior, Bureau of Land
Management dated October 7, 2010. 
 Right-Of-Way Lease/Grant (Serial Number CACA-48668) between Solar Partners I, LLC and the United
States Department of the Interior, Bureau of Land Management dated October 7, 2010. 
 Right-Of-Way Lease/Grant (Serial Number CACA-49503)
between Solar Partners VIII, LLC and the United States Department of the Interior, Bureau of Land Management dated October 7, 2010. 

Right-Of-Way Lease/Grant (Serial Number CACA-49502) between Solar Partners I, LLC, Solar Partners II, LLC and Solar Partners VIII, LLC and the United
States Department of the Interior, Bureau of Land Management dated October 7, 2010. 

 SCHEDULE 4.13(a) TO 
 LOAN AND GUARANTY AGREEMENT 
 ENVIRONMENTAL MATTERS 

None. 

 SCHEDULE 7.5 TO 
 LOAN AND GUARANTY AGREEMENT 
 CERTAIN RESTRICTIONS ON SUBSIDIARY DISTRIBUTIONS 

Section 6.05 of that certain $25,000,000 Development Loan Agreement, dated as of May 16, 2007, between Solar Partners II, LLC (as assignee of
Solar Partners I, LLC), as borrower, and Morgan Stanley, as amended by that certain First Amendment to Development Loan Agreement, dated as of October 30, 2009 (the “Morgan Stanley Facility”), provides that if an “Event of
Default” (as defined in the Morgan Stanley Facility) has occurred and is continuing, Solar Partners II, LLC will not make, directly or indirectly, any “Restricted Payment” (which, as defined in the Morgan Stanley Facility, generally
means any dividend or distribution), or incur any obligation (contingent or otherwise) to do so. 
 The Credit and Guaranty Agreement, dated as
of October 4, 2010, among BrightSource Energy, Inc. (“BSE”), certain wholly-owned domestic subsidiaries of BSE, the lenders party thereto from time to time, and Goldman Sachs Bank USA as Administrative Agent and as Collateral
Agent, places additional restrictions on Subsidiary distributions. 

 SCHEDULE 7.11 TO 
 LOAN AND GUARANTY AGREEMENT 
 CERTAIN AFFILIATE TRANSACTIONS 

That certain $25,000,000 Development Loan Agreement, dated as of May 16, 2007, between Solar Partners II, LLC (as assignee of Solar Partners I,
LLC), as borrower, and Morgan Stanley, as amended by that certain First Amendment to Development Loan Agreement, dated as of October 30, 2009. 
 Borrower has entered into two agreements with Alstom Power Inc. (“Alstom”), a stockholder of Borrower. The first agreement is a Preferred Turbine Supplier Agreement dated as of August 31,
2010 (“PSA”). Pursuant to the terms of the PSA, Borrower will designate Alstom as the preferred supplier of the next 8 steam turbine electric generator sets (or 2,000 MW, whichever comes first) supplied to certain Borrower facilities
(excluding the Projects). The second agreement is a Preferred Partner Agreement dated as of August 31, 2010 (the “PPA”). Pursuant to the terms of the PPA, the parties will work together to develop project opportunities in certain
countries. Borrower will designate Alstom as its preferred provider of EPC services for approved project opportunities, and Alstom will designate Borrower as its preferred provider of the solar field for such opportunities.Pledge and Security Agreement

 Exhibit 10.33 
 PLEDGE AND SECURITY AGREEMENT 
 dated as of December 28, 2010

 among 
 BRIGHTSOURCE ENERGY, INC., 
 EACH OF THE OTHER GRANTORS PARTY HERETO

 and 
 HERCULES TECHNOLOGY GROWTH CAPITAL, INC., 
 as Collateral Agent

 NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST GRANTED
TO THE COLLATERAL AGENT (AS DEFINED BELOW) PURSUANT TO THIS PLEDGE AND SECURITY AGREEMENT ARE SUBJECT TO THE TERMS OF THAT CERTAIN INTERCREDITOR AGREEMENT DATED AS OF THE DATE HEREOF BETWEEN BRIGHTSOURCE ENERGY, INC. (“BORROWER”), HERCULES
TECHNOLOGY GROWTH CAPITAL, INC., CERTAIN WHOLLY-OWNED SUBSIDIARIES OF BORROWER, AND GOLDMAN SACHS BANK USA AND CERTAIN OTHER PERSONS PARTY OR THAT MAY BECOME PARTY THERETO FROM TIME TO TIME 

This PLEDGE AND SECURITY AGREEMENT, dated as of December 28, 2010 (as it may be amended, restated, supplemented or otherwise
modified from time to time, this “Agreement”), among BrightSource Energy, Inc., a Delaware corporation (the “Borrower”), each of the Guarantors under the Loan Agreement (as herein defined) and each of the
subsidiaries of the Borrower that become Guarantors under the Loan Agreement party hereto from time to time, whether as an original signatory hereto or as an Additional Grantor (as herein defined) (together with the Borrower, the
“Grantors” and each, a “Grantor”), and Hercules Technology Growth Capital, Inc., as collateral agent for the Secured Parties (as herein defined) (in such capacity as collateral agent, together with its successors
and permitted assigns, the “Collateral Agent”). 
 RECITALS: 

WHEREAS, reference is made to that certain Loan and Guaranty Agreement, dated as of the date hereof (as it may be amended,
restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), by and among Borrower, each of the Guarantors party thereto, Hercules Technology Growth Capital and Hercules Technology II, L.P. (the
“Lenders”); and 
 WHEREAS, in consideration of the extensions of credit and other accommodations of
Lenders as set forth in the Loan Agreement each Grantor has agreed to secure the Obligations under the Credit Documents as set forth herein. 
 NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, and for other good and valuable consideration the receipt and sufficiency of which is
hereby acknowledged, each Grantor and the Collateral Agent agree as follows: 
 SECTION 1. DEFINITIONS; GRANT OF SECURITY. 

1.1 General Definitions. In this Agreement, the following terms shall have the following meanings: 

“Additional Grantors” shall have the meaning assigned in Section 7.3. 

“Agreement” shall have the meaning set forth in the preamble. 

 “Borrower” shall have the meaning set forth in the
recitals. 
 “Cash Proceeds” shall have the meaning assigned in Section 9.7. 

“Collateral” shall have the meaning assigned in Section 2.1. 

“Collateral Agent” shall have the meaning set forth in the preamble. 

“Collateral Records” shall mean all books, records, ledger cards, files, correspondence, customer lists,
supplier lists, blueprints, technical specifications, manuals, computer software and related documentation, computer printouts, tapes, disks and other electronic storage media and related data processing software and similar items that at any time
evidence or contain information relating to any of the Collateral or are otherwise necessary or helpful in the collection thereof or realization thereupon. 
 “Collateral Support” shall mean all property (real or personal) assigned, hypothecated or otherwise securing any Collateral and shall include any security agreement or other agreement
granting a Lien or security interest in such real or personal property. 
 “Control” shall mean:
(1) with respect to any Deposit Accounts, control within the meaning of Section 9-104 of the UCC, (2) with respect to any Securities Accounts, Security Entitlements, Commodity Contract or Commodity Account, control within the meaning
of Section 9-106 of the UCC, (3) with respect to any Uncertificated Securities, control within the meaning of Section 8-106(c) of the UCC, (4) with respect to any Certificated Security, control within the meaning of
Section 8-106(a) or (b) of the UCC, (5) with respect to any Electronic Chattel Paper, control within the meaning of Section 9-105 of the UCC, (6) with respect to Letter of Credit Rights, control within the meaning of
Section 9-107 of the UCC and (7) with respect to any “transferable record”(as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform
Electronic Transactions Act as in effect in any relevant jurisdiction), control within the meaning of Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or in Section 16 of the Uniform Electronic
Transactions Act as in effect in the jurisdiction relevant to such transferable record. 
 “Controlled
Foreign Corporation” shall mean “controlled foreign corporation” as defined in the Internal Revenue Code. 
 “Copyright Licenses” shall mean any and all agreements, licenses and covenants providing for the granting of any right in or to any Copyright or otherwise providing for a covenant not to
sue for infringement or other violation of any Copyright (whether such Grantor is licensee or licensor thereunder) including, without limitation, each agreement required to be listed in Schedule 5.2(II) under the heading “Copyright
Licenses” (as such schedule may be amended or supplemented from time to time). 

“Copyrights” shall mean all United States, and foreign copyrights (whether or not the underlying works of
authorship have been published), including but 

  
 2 

 
not limited to copyrights in software and all rights in and to databases, all designs (including but not limited to industrial designs, Protected Designs within the meaning of 17 U.S.C. 1301 et.
Seq. and Community Designs), and all Mask Works (as defined under 17 U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, as well as all moral rights, reversionary interests, and termination rights, and, with respect to any and
all of the foregoing: (i) all registrations and applications therefor including, without limitation, the registrations and applications required to be listed in Schedule 5.2(II) under the heading “Copyrights” (as such schedule may be
amended or supplemented from time to time), (ii) all extensions and renewals thereof, (iii) the right to sue or otherwise recover for any past, present and future infringement or other violation thereof, (iv) all Proceeds of the
foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages and proceeds of suit now or hereafter due and/or payable with respect thereto, and (v) all other rights of any kind accruing thereunder or
pertaining thereto throughout the world. 
 “Loan Agreement” shall have the meaning set forth in
the recitals. 
 “Excluded Asset” shall mean any asset of any Grantor excluded from the security
interest hereunder by virtue of Section 2.2 hereof but only to the extent, and for so long as, so excluded thereunder. 
 “Grantors” shall have the meaning set forth in the preamble. 
 “Insurance” shall mean (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key
man life insurance policies. 
 “Intellectual Property” shall mean, the collective reference to
all rights, priorities and privileges relating to intellectual property, whether arising under the United States, multinational or foreign laws or otherwise, including without limitation, Copyrights, Copyright Licenses, Patents, Patent Licenses,
Trademarks, Trademark Licenses, Trade Secrets, and Trade Secret Licenses, intangible rights in software and databases not otherwise included in the foregoing, and the right to sue at law or in equity or otherwise recover for any past, present and
future infringement, dilution, misappropriation, or other violation or impairment thereof, including the right to receive all Proceeds therefrom, including without limitation license fees, royalties, income, payments, claims, damages and proceeds of
suit, now or hereafter due and/or payable with respect thereto. 
 “Intellectual Property Security
Agreement” shall mean each intellectual property security agreement executed and delivered by the applicable Grantors, substantially in the form set forth in Exhibit E, Exhibit F and Exhibit G, as applicable. 

“Intercreditor Agreement” means that certain Intercreditor Agreement dated as of the date hereof between
the Grantors, Collateral Agent, Senior Lenders 

  
 3 

 
Collateral Agent and certain other persons party or that may become party thereto from time to time. 
 “Interest Reserve Account” shall have the meaning ascribed to such term in the Loan Agreement. 
 “Investment Accounts” shall mean the Securities Accounts, Commodity Accounts and Deposit Accounts, including without limitation the Interest Reserve Account. 

“Investment Related Property” shall mean: (i) all “investment property” (as such term is
defined in Article 9 of the UCC) and (ii) all of the following (regardless of whether classified as investment property under the UCC): all Pledged Equity Interests, Pledged Debt, the Investment Accounts and certificates of deposit. 

“Lender” shall have the meaning set forth in the recitals. 

“Material Intellectual Property” shall mean any Intellectual Property included in the Collateral that is
material to the Projects or the business of any Grantor or is otherwise of material value. 

“Non-Assignable Contract” shall mean any agreement, contract or license to which any Grantor is a party
that by its terms purports to restrict or prevent the assignment or granting of a security interest therein (either by its terms or by any federal or state statutory prohibition or otherwise irrespective of whether such prohibition or restriction is
enforceable under Section 9-406 through 409 of the UCC). 
 “Patent Licenses” shall mean
all agreements, licenses and covenants providing for the granting of any right in or to any Patent or otherwise providing for a covenant not to sue for infringement or other violation of any Patent (whether such Grantor is licensee or licensor
thereunder) including, without limitation, each agreement required to be listed in Schedule 5.2(II) under the heading “Patent Licenses” (as such schedule may be amended or supplemented from time to time). 

“Patents” shall mean all United States and foreign patents and certificates of invention, or similar
industrial property rights, and applications for any of the foregoing, including, without limitation: (i) each patent and patent application required to be listed in Schedule 5.2(II) under the heading “Patents” (as such schedule may
be amended or supplemented from time to time), (ii) all reissues, divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations thereof, (iii) all patentable inventions and improvements thereto, (iv) the
right to sue or otherwise recover for any past, present and future infringement or other violation thereof, (v) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and
proceeds of suit now or hereafter due and/or payable with respect thereto, and (vi) all other rights of any kind accruing thereunder or pertaining thereto throughout the world. 

  
 4 

 “Pledge Supplement” shall mean any supplement to this
Agreement in substantially the form of Exhibit A. 
 “Pledged Debt” shall mean all indebtedness
for borrowed money owed to such Grantor, whether or not evidenced by any Instrument, including, without limitation, all indebtedness described on Schedule 5.2(I) under the heading “Pledged Debt” (as such schedule may be amended or
supplemented from time to time), issued by the obligors named therein, the instruments, if any, evidencing any of the foregoing, and all interest, cash, instruments and other property or proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of the foregoing. 
 “Pledged Equity
Interests” shall mean all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and any other participation or interests in any equity or profits of any business entity including, without limitation, any trust and all
management rights relating to any entity whose equity interests are included as Pledged Equity Interests. 

“Pledged LLC Interests” shall mean all interests in any limited liability company and each series thereof
including, without limitation, all limited liability company interests listed on Schedule 5.2(I) under the heading “Pledged LLC Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any,
representing such limited liability company interests and any interest of such Grantor on the books and records of such limited liability company or on the books and records of any securities intermediary pertaining to such interest and all
dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such limited liability
company interests and all rights as a member of the related limited liability company. 
 “Pledged
Partnership Interests” shall mean all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 5.2(I) under the
heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of
such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests and all rights as a partner of the related partnership. 

“Pledged Stock” shall mean all shares of capital stock owned by such Grantor, including, without
limitation, all shares of capital stock described on Schedule 5.2(I) under the heading “Pledged Stock” (as such schedule may be amended or supplemented from time to time), and the certificates, if any, representing such shares and any
interest of such Grantor in the entries on the books of the issuer of such shares or on the books of any securities intermediary pertaining to such shares, and all dividends, 

  
 5 

 
distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange
for any or all of such shares. 
 “Receivables” shall mean all rights to payment, whether or not
earned by performance, for goods or other property sold, leased, licensed, assigned or otherwise disposed of, or services rendered or to be rendered, including, without limitation all such rights constituting or evidenced by any Account, Chattel
Paper, Instrument, General Intangible or Investment Related Property, together with all of Grantor’s rights, if any, in any goods or other property giving rise to such right to payment and all Collateral Support and Supporting Obligations
related thereto and all Receivables Records. 
 “Receivables Records” shall mean (i) all
original copies of all documents, instruments or other writings or electronic records or other Records evidencing the Receivables, (ii) all books, correspondence, credit or other files, Records, ledger sheets or cards, invoices, and other
papers relating to Receivables, including, without limitation, all tapes, cards, computer tapes, computer discs, computer runs, record keeping systems and other papers and documents relating to the Receivables, whether in the possession or under the
control of Grantor or any computer bureau or agent from time to time acting for Grantor or otherwise, (iii) all evidences of the filing of financing statements and the registration of other instruments in connection therewith, and amendments,
supplements or other modifications thereto, notices to other creditors, secured parties or agents thereof, and certificates, acknowledgments, or other writings, including, without limitation, lien search reports, from filing or other registration
officers, (iv) all credit information, reports and memoranda relating thereto and (v) all other written or non-written forms of information related in any way to the foregoing or any Receivable. 

“Secured Obligations” shall have the meaning assigned in Section 3.1. 

“Secured Parties” shall mean the Lenders and shall include, without limitation, former Lenders to the
extent that any Obligations owing to such Persons were incurred while such Persons were Lenders and such Obligations have not been paid or satisfied in full. 
 “Securities” shall mean any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing agreement or arrangement,
options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates of interest,
shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the foregoing. 

“Senior Lenders Collateral Agent” means Goldman Sachs Bank USA. 

“Trademark Licenses” shall mean any and all agreements, licenses and covenants providing for the granting
of any right in or to any Trademark or otherwise providing for a covenant not to sue for infringement dilution or other violation of any 

  
 6 

 
Trademark or permitting co-existence with respect to a Trademark (whether such Grantor is licensee or licensor thereunder) including, without limitation, each agreement required to be listed in
Schedule 5.2(II) under the heading “Trademark Licenses” (as such schedule may be amended or supplemented from time to time). 
 “Trademarks” shall mean all United States, and foreign trademarks, trade names, styles, trade dress, corporate names, company names, business names, fictitious business names, Internet
domain names, service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles of a like nature, whether or not registered in the United States Patent and Trademark Office or in any
similar office or agency of the United States, any state thereof or any other country or any political subdivision thereof, and with respect to any and all of the foregoing: (i) all common law rights related thereto; (ii) all registrations
and applications therefor including, without limitation, the registrations and applications required to be listed in Schedule 5.2(II) under the heading “Trademarks”(as such schedule may be amended or supplemented from time to time),
(iii) all extensions or renewals of any of the foregoing, (iv) all of the goodwill of the business connected with the use of and symbolized by any of the foregoing, (v) the right to sue or otherwise recover for any past, present and
future infringement, dilution or other violation of any of the foregoing or for any injury to the related goodwill, (vi) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages,
and proceeds of suit now or hereafter due and/or payable with respect thereto, and (vii) all other rights of any kind accruing thereunder or pertaining thereto throughout the world. 

“Trade Secret Licenses” shall mean any and all agreements providing for the granting of any right in or
to Trade Secrets (whether such Grantor is licensee or licensor thereunder) including, without limitation, each agreement required to be listed in Schedule 5.2(II) under the heading “Trade Secret Licenses” (as such schedule may be amended
or supplemented from time to time). 
 “Trade Secrets” shall mean all trade secrets and all
other confidential or proprietary information and know-how whether or not the foregoing has been reduced to a writing or other tangible form, including all documents and things embodying, incorporating, or referring in any way to the foregoing, and
with respect to any and all of the foregoing: (i) the right to sue or otherwise recover for any past, present and future misappropriation or other violation thereof, (ii) all Proceeds of the foregoing, including, without limitation,
license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect thereto; and (iii) all other rights of any kind accruing thereunder or pertaining thereto throughout the world.

 “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the State of
California; provided, however, that in the event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial Code as enacted and in
effect in a jurisdiction other than the State of California, the term “UCC” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions hereof relating to such
perfection, priority or remedies. 

  
 7 

 “United States” shall mean the United States of America.

 1.2 Definitions; Interpretation. 

(a) In this Agreement, the following capitalized terms shall have the meaning given to them in the UCC (and, if defined in
more than one Article of the UCC, shall have the meaning given in Article 9 thereof): Account, Account Debtor, As-Extracted Collateral, Bank, Certificated Security, Chattel Paper, Consignee, Consignment, Consignor, Commercial Tort Claims, Commodity
Account, Commodity Contract, Commodity Intermediary, Deposit Account, Document, Entitlement Order, Equipment, Electronic Chattel Paper, Farm Products, Fixtures, General Intangibles, Goods, Health-Care-Insurance Receivable, Instrument, Inventory,
Letter of Credit Right, Manufactured Home, Money, Payment Intangible, Proceeds, Record, Securities Account, Securities Intermediary, Security Certificate, Security Entitlement, Supporting Obligations, Tangible Chattel Paper and Uncertificated
Security. 
 (b) All other capitalized terms used herein (including the preamble and recitals hereto) and not
otherwise defined herein shall have the meanings ascribed thereto in the Loan Agreement. The incorporation by reference of terms defined in the Loan Agreement shall survive any termination of the Loan Agreement until this Agreement is terminated as
provided in Section 11 hereof. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein to any Section, Appendix, Schedule or Exhibit shall
be to a Section, an Appendix, a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The use herein of the word “include” or “including”, when following any general statement, term or matter,
shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation” or
“but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement, term or matter. The
terms lease and license shall include sub-lease and sub-license, as applicable. If any conflict or inconsistency exists between this Agreement and the Loan Agreement, the Loan Agreement shall govern. All references herein to provisions of the UCC
shall include all successor provisions under any subsequent version or amendment to any Article of the UCC. 

(c) Notwithstanding anything herein to the contrary, the Lien and security interest granted to the Collateral Agent
pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and this
Agreement, the terms of the Intercreditor Agreement shall govern and control. To the extent any of the Collateral is delivered to the Senior Lenders Collateral Agent as required pursuant to the Senior Loan Documents (as defined in the Loan
Agreement), such Collateral shall be deemed to be delivered to Collateral Agent as required pursuant to this Agreement until the Discharge of Senior Indebtedness (as defined in the Loan Agreement). 

  
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 SECTION 2. GRANT OF SECURITY. 

2.1 Grant of Security. Each Grantor hereby grants to the Collateral Agent, for the benefit of the Secured Parties, a security
interest in and continuing Lien on all of such Grantor’s right, title and interest in, to and under all personal property of such Grantor including, but not limited to the following, in each case whether now or hereafter existing or in which
any Grantor now has or hereafter acquires an interest and wherever the same may be located (all of which being hereinafter collectively referred to as the “Collateral”): 

(a) Accounts; 
 (b) Chattel Paper; 
 (c) Documents; 

(d) General Intangibles; 
 (e) Goods (including, without limitation, Inventory and Equipment); 

(f) Instruments; 
 (g) Insurance; 
 (h) Intellectual Property; 

(i) Investment Related Property (including, without limitation, Deposit Accounts); 

(j) Letter of Credit Rights; 
 (k) Money; 
 (l) Receivables and Receivable Records; 

(m) Commercial Tort Claims now or hereafter described on Schedule 5.2; 

(n) to the extent not otherwise included above, all other personal property of any kind and all Collateral Records,
Collateral Support and Supporting Obligations relating to any of the foregoing; and 
 (o) to the extent not
otherwise included above, all Proceeds, products, accessions, rents and profits of or in respect of any of the foregoing. 

2.2 Certain Limited Exclusions. Notwithstanding anything herein to the contrary, in no event shall the Collateral include or the
security interest granted under Section 2.1 hereof attach to (a) any lease, license, contract or agreement to which any Grantor is a party, and any of its rights or interest thereunder, if and to the extent that a

  
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security interest is prohibited by or in violation of (i) any law, rule or regulation applicable to such Grantor, or (ii) a term, provision or condition of any such lease, license,
contract or agreement (unless such law, rule, regulation, term, provision or condition would be rendered ineffective with respect to the creation of the security interest hereunder pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any
successor provision or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles of equity); provided however that the Collateral shall include (and such security interest shall attach)
immediately at such time as the contractual or legal prohibition shall no longer be applicable and to the extent severable, shall attach immediately to any portion of such lease, license, contract or agreement not subject to the prohibitions
specified in (i) or (ii) above; provided further that the exclusions referred to in clause (a) of this Section 2.2 shall not include any Proceeds of any such lease, license, contract or agreement; (b) in any of the
outstanding capital stock of a Controlled Foreign Corporation in excess of 66% of the voting power of all classes of capital stock of such Controlled Foreign Corporation entitled to vote; provided that immediately upon the amendment of the Internal
Revenue Code to allow the pledge of a greater percentage of the voting power of capital stock in a Controlled Foreign Corporation without adverse tax consequences, the Collateral shall include, and the security interest granted by each Grantor shall
attach to, such greater percentage of capital stock of each Controlled Foreign Corporation or (c) any “intent-to-use” application for registration of a Trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. §
1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any,
that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law. 

SECTION 3. SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE. 
 3.1 Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment or performance in full when due, whether at stated maturity, by
required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any
successor provision thereof)), of all Obligations (the “Secured Obligations”). 
 3.2 Continuing Liability
Under Collateral. Notwithstanding anything herein to the contrary, (i) each Grantor shall remain liable for all obligations under the Collateral and nothing contained herein is intended or shall be a delegation of duties to the Collateral
Agent or any other Secured Party, (ii) each Grantor shall remain liable under each of the agreements included in the Collateral, including, without limitation, any agreements relating to Pledged Partnership Interests or Pledged LLC Interests,
to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms and provisions thereof and neither the Collateral Agent nor any 

  
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Secured Party shall have any obligation or liability under any of such agreements by reason of or arising out of this Agreement or any other document related thereto nor shall the Collateral
Agent nor any Secured Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to collect or enforce any rights under any agreement included in the
Collateral, including, without limitation, any agreements relating to Pledged Partnership Interests or Pledged LLC Interests, and (iii) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any
of its duties or obligations under the contracts and agreements included in the Collateral. 
 SECTION 4. CERTAIN PERFECTION REQUIREMENTS

 4.1 Delivery Requirements. 

(a) With respect to any Certificated Securities included in the Collateral, each Grantor shall deliver to the Collateral
Agent the Security Certificates evidencing such Certificated Securities duly indorsed by an effective indorsement (within the meaning of Section 8-107 of the UCC), or accompanied by share transfer powers or other instruments of transfer duly
endorsed by such an effective endorsement, in each case, to the Collateral Agent or in blank. In addition, each Grantor shall cause any certificates evidencing any Pledged Equity Interests, including, without limitation, any Pledged Partnership
Interests or Pledged LLC Interests, to be similarly delivered to the Collateral Agent regardless of whether such Pledged Equity Interests constitute Certificated Securities. 

(b) With respect to any Instruments or Tangible Chattel Paper included in the Collateral, each Grantor shall deliver to
the Collateral Agent all such Instruments or Tangible Chattel Paper to the Collateral Agent duly indorsed in blank; provided, however, that such delivery requirement shall not apply to any Instruments or Tangible Chattel Paper having a face amount
of less than $1,000,000 individually or $5,000,000 in the aggregate. 
 4.2 Control Requirements. 

(a) With respect to the Interest Reserve Account, Borrower shall ensure that the Collateral Agent has sole Control
thereof. Borrower shall cause the depositary institution maintaining the Interest Reserve Account to enter into an Account Control Agreement, pursuant to which the Bank shall agree to comply with the Collateral Agent’s instructions with respect
to disposition of funds in the Interest Reserve Account without further consent by Borrower. 
 (b) With respect
to any Deposit Accounts, Securities Accounts, Security Entitlements, Commodity Accounts and Commodity Contracts included in the Collateral (other than the Interest Reserve Account), each Grantor shall ensure that the Collateral Agent has Control
thereof. With respect to any Securities Accounts or Securities Entitlements, such Control shall be accomplished by the Grantor causing the Securities Intermediary maintaining such Securities Account or Security Entitlement to

  
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enter into an agreement in form and substance reasonably satisfactory to the Collateral Agent pursuant to which the Securities Intermediary shall agree to comply with the Collateral Agent’s
Entitlement Orders without further consent by such Grantor. With respect to any Deposit Account, each Grantor shall cause the depositary institution maintaining such account to enter into an agreement in form and substance reasonably satisfactory to
the Collateral Agent, pursuant to which the Bank shall agree to comply with the Collateral Agent’s instructions with respect to disposition of funds in the Deposit Account without further consent by such Grantor. With respect to any Commodity
Accounts or Commodity Contracts each Grantor shall cause Control in favor of the Collateral Agent in a manner reasonably acceptable to the Collateral Agent. 
 (c) With respect to any Uncertificated Security included in the Collateral (other than any Uncertificated Securities credited to a Securities Account), each Grantor shall cause the issuer of such
Uncertificated Security to either (i) register the Collateral Agent as the registered owner thereof on the books and records of the issuer or (ii) execute an agreement substantially in the form of Exhibit B hereto (or such other agreement
in form and substance reasonably satisfactory to the Collateral Agent), pursuant to which such issuer agrees to comply with the Collateral Agent’s instructions with respect to such Uncertificated Security without further consent by such
Grantor. 
 (d) With respect to any material Letter of Credit Rights (which, with respect to any Letter of
Credit, means at a minimum that such Letter of Credit has a face amount of at least $1,000,000) included in the Collateral (other than any Letter of Credit Rights constituting a Supporting Obligation for a Receivable in which the Collateral Agent
has a valid and perfected security interest), Grantor shall ensure that Collateral Agent has Control thereof by obtaining the written consent of each issuer of each related letter of credit to the assignment of the proceeds of such letter of credit
to the Collateral Agent. 
 4.3 Intellectual Property Recording Requirements. 

(a) In the case of any Collateral (whether now owned or hereafter acquired) consisting of issued U.S. Patents and
applications therefore and exclusive Patent Licenses in respect of U.S. Patents for which any Grantor is the licensee, each Grantor shall execute and deliver to the Collateral Agent a Patent Security Agreement in substantially the form of Exhibit F
hereto (or a supplement thereto) covering all such Patents in appropriate form for recordation with the U.S. Patent and Trademark Office with respect to the security interest of the Collateral Agent. 

(b) In the case of any Collateral (whether now owned or hereafter acquired) consisting of registered U.S. Trademarks and
applications therefore and exclusive Trademark Licenses in respect of U.S. Trademarks for which any Grantor is the licensee, each Grantor shall execute and deliver to the Collateral Agent a Trademark Security Agreement in substantially the form of
Exhibit E hereto (or a supplement thereto) covering all such Trademarks and Trademark Licenses in appropriate form for recordation with the U.S. Patent and Trademark Office with respect to the security interest of the Collateral Agent. 

  
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 (c) In the case of any Collateral consisting of registered U.S. Copyrights
and exclusive Copyright Licenses in respect of U.S. Copyrights for which any Grantor is the licensee, each Grantor shall execute and deliver to the Collateral Agent a Copyright Security Agreement in substantially the form of Exhibit G hereto (or a
supplement thereto) covering all such Copyrights and Copyright Licenses in appropriate form for recordation with the U.S. Copyright Office with respect to the security interest of the Collateral Agent. 

4.4 Other Actions. 
 (a) If any issuer of any Pledged Equity Interest is organized under a jurisdiction outside of the United States, on and promptly after the Closing Date each Grantor shall take such additional actions,
including, without limitation, causing the issuer to register the pledge on its books and records or making such filings or recordings, in each case as may be reasonably necessary or advisable, under the laws of such issuer’s jurisdiction to
insure the validity, perfection and priority of the security interest of the Collateral Agent, in each case subject to the first priority Lien of the Senior Lender. 

(b) With respect to any Pledged Partnership Interests and Pledged LLC Interests included in the Collateral, if the
Grantors own less than 100% of the equity interests in any issuer of such Pledged Partnership Interests or Pledged LLC Interests but more than 50% of the equity interests in any issuer of such Pledged Partnership Interests or Pledged LLC Interests,
Grantors shall use their commercially reasonable efforts to obtain the consent of each other holder of partnership interest or limited liability company interests in such issuer to the security interest of the Collateral Agent hereunder and
following an Event of Default, the transfer of such Pledged Partnership Interests and Pledged LLC Interests to the Collateral Agent of its designee, and to the substitution of the Collateral Agent or its designee as a partner or member with all the
rights and powers related thereto. Each Grantor consents to the grant by each other Grantor of a Lien in all Investment Related Property to the Collateral Agent and without limiting the generality of the foregoing consents to the transfer of any
Pledged Partnership Interest and any Pledged LLC Interest to the Collateral Agent or its designee following an Event of Default and to the substitution of the Collateral Agent or its designee as a partner in any partnership or as a member in any
limited liability company with all the rights and powers related thereto. 
 4.5 Timing and Notice. Except as otherwise
set forth in this Agreement, with respect to any Collateral in existence on the Closing Date, each Grantor shall comply with the requirements of Section 4 on the date hereof and, with respect to any Collateral hereafter owned or acquired, such
Grantor shall comply with such requirements within 10 (ten) days of Grantor acquiring rights therein (or if complying with the requirements of Section 4 will take longer than 10 (ten) days, as promptly as possible thereafter). Each Grantor
shall promptly inform the Collateral Agent of its acquisition of any Collateral for which any action is required by Section 4 hereof (including, for the avoidance of doubt, the filing of any applications for, or the issuance or registration of,
any Patents, Copyrights or Trademarks). 

  
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 SECTION 5. REPRESENTATIONS AND WARRANTIES. 
 Each Grantor hereby represents and warrants, on the Closing Date and on each Advance Date, that: 
 5.1 Grantor Information & Status. 
 (a) Schedule
5.1(A) & (B) (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings: (1) the full legal name of such Grantor, (2) all trade names or other names under which such Grantor
currently conducts business, (3) the type of organization of such Grantor, (4) the jurisdiction of organization of such Grantor, (5) its organizational identification number, if any, and (6) the jurisdiction where the chief
executive office or its sole place of business is located. 
 (b) except as provided on Schedule 5.1(C), it has
not changed its name, jurisdiction of organization, chief executive office or sole place of business or its corporate structure in any way (e.g., by merger, consolidation, change in corporate form or otherwise) and has not done business under any
other name, in each case, within the past five (5) years; 
 (c) it has not within the last five
(5) years become bound (whether as a result of merger or otherwise) as debtor under a security agreement entered into by another Person, which has not heretofore been terminated other than the agreements identified on Schedule 5.1(D) hereof;

 (d) such Grantor has been duly organized and is validly existing as an entity of the type as set forth
opposite such Grantor’s name on Schedule 5.1(A) solely under the laws of the jurisdiction as set forth opposite such Grantor’s name on Schedule 5.1(A) and remains duly existing as such. Such Grantor has not filed any certificates of
dissolution or liquidation, any certificates of domestication, transfer or continuance in any other jurisdiction; and 
 (e) no Grantor is a “transmitting utility” (as defined in Section 9-102(a)(80) of the UCC). 
 5.2 Collateral Identification, Special Collateral. 
 (a)
Schedule 5.2 (as such schedule may be amended or supplemented from time to time) sets forth under the appropriate headings all of such Grantor’s: (1) Pledged Equity Interests, (2) Pledged Debt other than Pledged Debt with a market
value of less than $1,000,000 individually or $5,000,000 in the aggregate, (3) Securities Accounts other than any Securities Accounts holding assets with a market value of less than $1,000,000 individually or $5,000,000 in the aggregate,
(4) Deposit Accounts other than any Deposit Accounts holding less than $1,000,000 individually or $5,000,000 in the aggregate, (5) Commodity Contracts and Commodity Accounts, (6) United States and foreign registrations and issuances
of and applications for Patents, Trademarks, and Copyrights owned by each Grantor, (7) Patent Licenses, Trademark Licenses, Trade 

  
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Secret Licenses and Copyright Licenses constituting Material Intellectual Property, (8) Commercial Tort Claims other than any Commercial Tort Claims having a value of less than $1,000,000
individually and $5,000,000 in the aggregate, (9) Letter of Credit Rights for letters of credit other than any Letters of Credit Rights worth less than $1,000,000 individually or $5,000,000 in the aggregate, and (10) the name and address
of any warehouseman, bailee or other third party in possession of any Equipment and other tangible personal property other than any Equipment or other tangible person property having a value less than $1,000,000 individually or $5,000,000 in the
aggregate. Each Grantor shall supplement such schedules as necessary to ensure that such schedules are accurate on each Credit Date; 
 (b) none of the Collateral constitutes, or is the Proceeds of, (1) Farm Products, (2) As-Extracted Collateral, (3) Manufactured Homes, (4) Health-Care-Insurance Receivables;
(5) timber to be cut, or (6) aircraft, aircraft engines, satellites, ships or railroad rolling stock. No material portion of the collateral consists of motor vehicles or other goods subject to a certificate of title statute of any
jurisdiction; 
 (c) all information supplied by any Grantor with respect to any of the Collateral (in each case
taken as a whole with respect to any particular Collateral) is accurate and complete in all material respects; 

(d) not more than 10% of the value of all personal property included in the Collateral is located in any country other
than the United States; and 
 (e) no Excluded Asset is material to the business of such Grantor. 

5.3 Ownership of Collateral and Absence of Other Liens. 

(a) it owns the Collateral purported to be owned by it or otherwise has the rights it purports to have in each item of
Collateral and, as to all Collateral whether now existing or hereafter acquired, developed or created (including by way of lease or license), will continue to own or have such rights in each item of the Collateral (except as otherwise permitted by
the Loan Agreement), in each case free and clear of any and all Liens, rights or claims of all other Persons, including, without limitation, Liens arising as a result of such Grantor becoming bound (as a result of merger or otherwise) as debtor
under a security agreement entered into by another Person other than, in the case of priority only, any Permitted Liens; and 
 (b) other than any financing statements filed in favor of the Collateral Agent and the Senior Lenders Collateral Agent, no effective financing statement, fixture filing or other instrument similar in
effect under any applicable law covering all or any part of the Collateral is on file in any filing or recording office except for (x) financing statements for which duly authorized proper termination statements have been delivered to the
Collateral Agent for filing and (y) financing statements filed in connection with Permitted Liens. Other than the Collateral Agent, Senior Lenders Collateral Agent and any automatic control in favor of a Bank, Securities Intermediary or
Commodity Intermediary maintaining a Deposit Account, Securities Account or Commodity Contract, 

  
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no Person is in Control of any Collateral; provided that Collateral Agent shall have sole Control over the Interest Reserve Account. 

5.4 Status of Security Interest. 
 (a) upon the filing of financing statements naming each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth
opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Collateral Agent in all Collateral that can be perfected by the filing of a financing
statement under the Uniform Commercial Code as in effect in any jurisdiction will constitute a valid, perfected, first priority Lien subject in the case of priority only, to any Permitted Liens with respect to Collateral. Each agreement purporting
to give the Collateral Agent Control over any Collateral is effective to establish the Collateral Agent’s Control of the Collateral subject thereto; 
 (b) to the extent perfection or priority of the security interest therein is not subject to Article 9 of the UCC, upon recordation of the security interests granted hereunder in Patents, Trademarks and
Copyrights, including exclusive Patent Licenses, Trademark Licenses and Copyright Licenses, in the applicable intellectual property registries, including but not limited to the United States Patent and Trademark Office and the United States
Copyright Office, the security interests granted to the Collateral Agent hereunder shall constitute valid, perfected, first priority Liens (subject, in the case of priority only, to Permitted Liens); provided, however, that additional
filings in the United States Patent and Trademark Office and United States Copyright Office may be necessary with respect to the perfection of the security interest of the Collateral Agent in all United States registrations and applications for
Patents, Trademarks and Copyrights which are filed by, issued to or acquired by any Grantor after the date hereof; provided, further, that the Collateral Agent will not record evidence of its security interests granted hereunder in any
foreign Patents, Trademarks and Copyrights in any foreign jurisdiction; 
 (c) no authorization, consent,
approval or other action by, and no notice to or filing with, any Governmental Authority or regulatory body or any other Person is required for either (i) the pledge or grant by any Grantor of the Liens purported to be created in favor of the
Collateral Agent hereunder or (ii) the exercise by Collateral Agent of any rights or remedies in respect of any Collateral (whether specifically granted or created hereunder or created or provided for by applicable law), except (A) for the
filings contemplated by clause (a) above, (B) as may be required, in connection with the disposition of any Investment Related Property, by laws generally affecting the offering and sale of Securities and (c) for those that have been
obtained; and 
 (d) each Grantor is in compliance with its obligations under Section 4 hereof. 

  
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 5.5 Goods & Receivables. 

(a) each Receivable (a) is and will be the legal, valid and binding obligation of the Account Debtor in respect
thereof, representing an unsatisfied obligation of such Account Debtor, (b) to the best of such Grantor’s knowledge is and will be enforceable in accordance with its terms, (c) is not and will not be subject to any credits, rights of
recoupment, setoffs, defenses, taxes, counterclaims (except with respect to refunds, returns and allowances in the ordinary course of business with respect to damaged merchandise) and (d) is and will be in compliance with all applicable laws,
whether federal, state, local or foreign; and 
 (b) other than any Inventory or Equipment in
transit, all of the Equipment and Inventory included in the Collateral is located only at the locations specified in Schedule 5.5 (as such schedule may be amended or supplemented from time to time). 

5.6 Pledged Equity Interests, Investment Related Property. 

(a) it is the record and beneficial owner of the Pledged Equity Interests free of all Liens, rights or claims of other
Persons (other than the Senior Lenders Collateral Agent) and there are no outstanding warrants, options or other rights to purchase, or shareholder, voting trust or similar agreements outstanding with respect to, or property that is convertible
into, or that requires the issuance or sale of, any Pledged Equity Interests; 
 (b) no consent of any Person
including any other general or limited partner, any other member of a limited liability company, any other shareholder or any other trust beneficiary is necessary or desirable in connection with the creation, perfection or first priority status of
the security interest of the Collateral Agent in any Pledged Equity Interests or the exercise by the Collateral Agent of the voting or other rights provided for in this Agreement or the exercise of remedies in respect thereof except such as have
been obtained; and 
 (c) all of the Pledged LLC Interests and Pledged Partnership Interests do not represent
interests (1) that by their terms provide that they are securities governed by the uniform commercial code of an applicable jurisdiction, (2) that are dealt in or traded on securities exchanges or markets or (3) in issuers that are
registered as investment companies. 
 5.7 Intellectual Property. 

(a) it is the sole and exclusive owner of the entire right, title, and interest in and to all Intellectual Property listed
on Schedule 5.2(II) (as such schedule may be amended or supplemented from time to time), and owns or has or will have the valid right to use and, where such Grantor does so, sublicense others to use, all other Intellectual Property used in or
necessary to conduct its business, free and clear of all Liens, claims, encumbrances and licenses, except for, in the case of priority only, 

  
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Permitted Liens and the licenses set forth on Schedule 5.2(II) (as such schedule may be amended or supplemented from time to time); 

(b) all Material Intellectual Property of such Grantor is subsisting and has not been adjudged invalid or unenforceable,
in whole or in part, nor, in the case of Patents, is any of the Material Intellectual Property the subject of a reexamination proceeding, and such Grantor has performed all acts and has paid all renewal, maintenance, and other fees and taxes
required to maintain each and every registration and application of Copyrights, Patents and Trademarks of such Grantor constituting Material Intellectual Property in full force and effect; 

(c) no final, non-appealable holding, decision, ruling, or judgment has been rendered in any action or proceeding before
any court or administrative authority challenging the validity, enforceability, or scope of, or such Grantor’s right to register, own or use, any Material Intellectual Property of such Grantor, and no such action or proceeding is pending or, to
the best of such Grantor’s knowledge, threatened; 
 (d) all registrations, issuances and applications for
Copyrights, Patents and Trademarks of such Grantor are standing in the name of such Grantor, and none of the Trademarks, Patents, Copyrights or Trade Secrets owned by such Grantor has been licensed by such Grantor to any Affiliate or third party,
except as disclosed in Schedule 5.2(II) (as such schedule may be amended or supplemented from time to time), and all exclusive Patent Licenses, Trademark Licenses and Copyright Licenses constituting Material Intellectual Property in respect have
been properly recorded in the U.S. Patent and Trademark Office or U.S. Copyright Office or, where appropriate, any foreign counterpart; 
 (e) all Copyrights owned by such Grantor that constitute Material Intellectual Property have been registered with the United States Copyright Office or, where appropriate, any foreign counterpart.

 (f) such Grantor has not made a previous assignment, sale, transfer, exclusive license, or similar arrangement
constituting a present or future assignment, sale, transfer, exclusive license or similar arrangement of any Material Intellectual Property that has not been terminated or released; 

(g) such Grantor has been using appropriate statutory notice of registration in connection with its use of registered
Trademarks constituting Material Intellectual Property, proper marking practices in connection with its use of Patents constituting Material Intellectual Property, and appropriate notice of copyright in connection with the publication of Copyrights
constituting Material Intellectual Property; 
 (h) such Grantor has taken commercially reasonable steps to
protect the confidentiality of its Trade Secrets constituting Material Intellectual Property in accordance with industry standards; 
 (i) such Grantor controls the nature and quality in accordance with industry standards of all products sold and all services rendered under or in connection

  
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with all Trademarks of such Grantor, in each case consistent with industry standards, and has taken all action necessary to insure that all licensees of the Trademarks owned by such Grantor
comply with such Grantor’s standards of quality, in each case, to the extent constituting Material Intellectual Property; 
 (j) the conduct of such Grantor’s business does not infringe, misappropriate, dilute or otherwise violate any Intellectual Property right of any other Person; no claim has been made that the use of
any Material Intellectual Property owned or used by such Grantor (or any of its respective licensees) infringes, misappropriates, dilutes or otherwise violates the asserted rights of any other Person, and no demand that such Grantor enter into a
license or co-existence agreement has been made but not resolved; 
 (k) to the best of such Grantor’s
knowledge, no Person is infringing, misappropriating, diluting or otherwise violating any rights in any Material Intellectual Property owned, licensed or used by such Grantor, or any of its respective licensees; and 

(l) no settlement or consents, covenants not to sue, co-existence agreements, non-assertion assurances, or releases have
been entered into by such Grantor or bind such Grantor in a manner that could adversely affect such Grantor’s rights to own, license or use any Material Intellectual Property. 
 SECTION 6. COVENANTS AND AGREEMENTS. 
 Each Grantor hereby covenants and agrees that:

 6.1 Grantor Information & Status. Without limiting any prohibitions or restrictions on mergers or other
transactions set forth in the Loan Agreement, it shall not change such Grantor’s name, identity, corporate structure (e.g. by merger, consolidation, change in corporate form or otherwise), sole place of business, chief executive office, type of
organization or jurisdiction of organization or establish any trade names unless it shall have (a) notified the Collateral Agent in writing at least twenty (20) days prior to any such change or establishment, identifying such new proposed
name, identity, corporate structure, sole place of business, chief executive office, jurisdiction of organization or trade name and providing such other information in connection therewith as the Collateral Agent may reasonably request and
(b) taken all actions necessary or advisable to maintain the continuous validity, perfection and the same or better priority of the Collateral Agent’s security interest in the Collateral granted or intended to be granted and agreed to
hereby, which in the case of any merger or other change in corporate structure shall include, without limitation, executing and delivering to the Collateral Agent a completed Pledge Supplement together with all Supplements to Schedules thereto, upon
completion of such merger or other change in corporate structure confirming the grant of the security interest hereunder. 

6.2 Collateral Identification; Special Collateral. 

(a) in the event that it hereafter acquires any Collateral of a type described in Section 5.2(b) hereof, it shall
promptly notify there Collateral Agent thereof 

  
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in writing and take such actions and execute such documents and make such filings all at Grantor’s expense as the Collateral Agent may reasonably request in order to ensure that the
Collateral Agent has a valid, perfected, first priority security interest in such Collateral, subject in the case of priority only, to any Permitted Liens. Notwithstanding the foregoing, no Grantor shall be required to notify the Collateral Agent or
take any such action unless such Collateral is of a material value or is material to such Grantor’s business. 
 (b) in the event that it hereafter acquires or has any Commercial Tort Claim in excess of $1,000,000 individually or $5,000,000 in the aggregate it shall deliver to the Collateral Agent a completed Pledge
Supplement together with all Supplements to Schedules thereto, identifying such new Commercial Tort Claims. 
 6.3 Ownership
of Collateral and Absence of Other Liens. 
 (a) except for the security interest created by this Agreement,
it shall not create or suffer to exist any Lien upon or with respect to any of the Collateral, other than Permitted Liens, and such Grantor shall defend the Collateral against all Persons at any time claiming any interest therein; 

(b) upon such Grantor or any officer of such Grantor obtaining knowledge thereof, it shall promptly notify the Collateral
Agent in writing of any event that may have a Material Adverse Effect on (i) the value of the Collateral or any portion thereof, (ii) the ability of any Grantor or the Collateral Agent to dispose of the Collateral or any portion thereof or
(iii) the rights and remedies of the Collateral Agent in relation thereto, including, without limitation, the levy of any legal process against the Collateral or any portion thereof; and 

(c) it shall not sell, transfer or assign (by operation of law or otherwise) or exclusively license to another Person any
Collateral except as otherwise permitted by the Loan Agreement. 
 6.4 Status of Security Interest. 

(a) Subject to the limitations set forth in subsection (b) of this Section 6.4, each Grantor shall maintain the
security interest of the Collateral Agent hereunder in all Collateral as valid, perfected, first priority Liens (subject, in the case of priority only, to Permitted Liens). 

(b) Notwithstanding the foregoing, no Grantor shall be required to take any action to perfect any Collateral that can only
be perfected by (i) Control, (ii) foreign filings with respect to Intellectual Property, or (iii) filings with registrars of motor vehicles or similar governmental authorities with respect to goods covered by a certificate of title,
in each case except as and to the extent specified in Section 4 hereof. 
 6.5 Goods & Receivables.

 (a) it shall not deliver any Document evidencing any Equipment and Inventory to any Person other than the
issuer of such Document to claim 

  
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the Goods evidenced therefor, the Senior Lenders Collateral Agent or the Collateral Agent; 
 (b) if any Equipment in excess of $1,000,000 individually or $5,000,000 in the aggregate is in possession or control of any warehouseman, bailee or other third party (other than a Consignee under a
Consignment for which such Grantor is the Consignor), each Grantor shall join with the Collateral Agent in notifying the third party of the Collateral Agent’s security interest and obtaining an acknowledgment from the third party that it is
holding the Equipment for the benefit of the Collateral Agent and will permit the Collateral Agent to have access to Equipment for purposes of inspecting such Collateral or, following an Event of Default, to remove same from such premises if the
Collateral Agent so elects. 
 (c) it shall keep and maintain at its own cost and expense satisfactory and
complete records of the Receivables, including, but not limited to, the originals of all documentation with respect to all Receivables and records of all payments received and all credits granted on the Receivables, all merchandise returned and all
other dealings therewith; 
 (d) other than in the ordinary course of business (i) it shall not amend,
modify, terminate or waive any provision of any Receivable in any manner which could reasonably be expected to have a material adverse effect on the value of such Receivable; (ii) following and during the continuation of an Event of Default,
such Grantor shall not (w) grant any extension or renewal of the time of payment of any Receivable, (x) compromise or settle any dispute, claim or legal proceeding with respect to any Receivable for less than the total unpaid balance
thereof, (y) release, wholly or partially, any Person liable for the payment thereof, or (z) allow any credit or discount thereon; and 
 (e) the Collateral Agent shall have the right at any time to notify, or require any Grantor to notify, any Account Debtor of the Collateral Agent’s security interest in the Receivables and any
Supporting Obligation and, in addition, at any time following the occurrence and during the continuation of an Event of Default, the Collateral Agent may: (i) direct the Account Debtors under any Receivables to make payment of all amounts due
or to become due to such Grantor thereunder directly to the Collateral Agent; (ii) notify, or require any Grantor to notify, each Person maintaining a lockbox or similar arrangement to which Account Debtors under any Receivables have been
directed to make payment to remit all amounts representing collections on checks and other payment items from time to time sent to or deposited in such lockbox or other arrangement directly to the Collateral Agent; and (iii) enforce, at the
expense of such Grantor, collection of any such Receivables and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such Grantor might have done. If the Collateral Agent notifies any Grantor
that it has elected to collect the Receivables in accordance with the preceding sentence, any payments of Receivables received by such Grantor shall be forthwith (and in any event within two (2) Business Days) deposited by such Grantor in the
exact form received, duly indorsed by such Grantor to the Collateral Agent if required, as instructed by the Collateral Agent (acting upon instructions by the Lenders), and until so turned over, all amounts and proceeds

  
 21 

 
(including checks and other instruments) received by such Grantor in respect of the Receivables, any Supporting Obligation or Collateral Support shall be received in trust for the benefit of the
Collateral Agent hereunder and shall be segregated from other funds of such Grantor and such Grantor shall not adjust, settle or compromise the amount or payment of any Receivable, or release wholly or partly any Account Debtor or obligor thereof,
or allow any credit or discount thereon. 
 6.6 Pledged Equity Interests, Investment Related Property. (a) except as
provided in the next sentence, in the event such Grantor receives any dividends, interest or distributions on any Pledged Equity Interest or other Investment Related Property, upon the merger, consolidation, liquidation or dissolution of any issuer
of any Pledged Equity Interest or Investment Related Property, then (a) such dividends, interest or distributions and securities or other property shall be included in the definition of Collateral without further action and (b) such
Grantor shall immediately take all steps, if any, necessary or advisable to ensure the validity, perfection, priority and, if applicable, control of the Collateral Agent over such Investment Related Property (including, without limitation, delivery
thereof to the Collateral Agent) and pending any such action such Grantor shall be deemed to hold such dividends, interest, distributions, securities or other property in trust for the benefit of the Collateral Agent and shall segregate such
dividends, distributions, Securities or other property from all other property of such Grantor. Notwithstanding the foregoing, so long as no Event of Default shall have occurred and be continuing, the Collateral Agent authorizes each Grantor to
retain all ordinary cash dividends and distributions paid in the normal course of the business of the issuer and consistent with the past practice of the issuer and all scheduled payments of interest; 

(b) Voting. 
 (i) So long as no Event of Default shall have occurred and be continuing, except as otherwise provided under the covenants and agreements relating to Investment Related Property in this Agreement or
elsewhere herein or in the Loan Agreement, each Grantor shall be entitled to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the Investment Related Property or any part thereof for any purpose not
inconsistent with the terms of this Agreement or the Loan Agreement; provided, no Grantor shall exercise or refrain from exercising any such right if the Collateral Agent shall have notified such Grantor that, in the Collateral Agent’s
reasonable judgment, such action would have a Material Adverse Effect on the value of the Investment Related Property or any part thereof; and provided further, such Grantor shall give the Collateral Agent at least five (5) Business Days
prior written notice of the manner in which it intends to exercise, or the reasons for refraining from exercising, any such right; it being understood, however, that neither the voting by such Grantor of any Pledged Stock for, or such Grantor’s
consent to, the election of directors (or similar governing body) at a regularly scheduled annual or other meeting of stockholders or with respect to incidental matters at any such meeting, nor such Grantor’s consent to or approval of any
action otherwise permitted under this Agreement and the Loan Agreement, shall be deemed inconsistent with the terms of this Agreement or the Loan Agreement 

  
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within the meaning of this Section 6.6(b)(i) and no notice of any such voting or consent need be given to the Collateral Agent; and 

(ii) Upon the occurrence and during the continuation of an Event of Default and upon written notice from the Collateral
Agent to such Grantor of the Collateral Agent’s intention to exercise such rights with respect to Pledged Equity Interests or Investment Related Property: 
 (1) all rights of each Grantor to exercise or refrain from exercising the voting and other consensual rights which it would otherwise be entitled to exercise pursuant hereto shall cease and all such
rights shall thereupon become vested in the Collateral Agent who shall thereupon have the sole right to exercise such voting and other consensual rights; and 
 (2) in order to permit the Collateral Agent to exercise the voting and other consensual rights which it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions
which it may be entitled to receive hereunder: (1) each Grantor shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Agent all proxies, dividend payment orders and other instruments as the Collateral
Agent may from time to time reasonably request and (2) each Grantor acknowledges that the Collateral Agent may utilize the power of attorney set forth in Section 8.1. 

(c) except as expressly permitted by the Loan Agreement, without the prior written consent of the Collateral Agent, it
shall not vote to enable or take any other action to: (i) amend or terminate any partnership agreement, limited liability company agreement, certificate of incorporation, by-laws or other organizational documents in any way that materially
changes the rights of such Grantor with respect to any Investment Related Property or adversely affects the validity, perfection or priority of the Collateral Agent’s security interest, (ii) permit any issuer of any Pledged Equity Interest
to issue any additional stock, partnership interests, limited liability company interests or other equity interests of any nature or to issue securities convertible into or granting the right of purchase or exchange for any stock or other equity
interest of any nature of such issuer, (iii) other than as permitted under the Loan Agreement, permit any issuer of any Pledged Equity Interest to dispose of all or a material portion of their assets, (iv) waive any default under or breach
of any terms of organizational document relating to the issuer of any Pledged Equity Interest or the terms of any Pledged Debt with a principal amount greater than or equal to $1,000,000, or (v) cause any issuer of any Pledged Partnership
Interests or Pledged LLC Interests which are not securities (for purposes of the UCC) on the date hereof to elect or otherwise take any action to cause such Pledged Partnership Interests or Pledged LLC Interests to be treated as securities for
purposes of the UCC; provided, however, notwithstanding the foregoing, if any issuer of any Pledged Partnership Interests or Pledged LLC Interests takes any such action in violation of the foregoing in this clause (e), such Grantor shall promptly
notify the Collateral Agent in writing of any such election or action and, in such event, shall take all steps necessary or advisable to establish the Collateral Agent’s “control” thereof; and 

  
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 (d) except as expressly permitted by the Loan Agreement, without the prior
written consent of the Collateral Agent, it shall not permit any issuer of any Pledged Equity Interest to merge or consolidate unless (i) such issuer creates a security interest that is perfected by a filed financing statement (that is not
effective solely under Section 9-508 of the UCC) in collateral in which such new debtor has or acquires rights, (ii) all the outstanding capital stock or other equity interests of the surviving or resulting corporation, limited liability
company, partnership or other entity is, upon such merger or consolidation, pledged hereunder and no cash, securities or other property is distributed in respect of the outstanding equity interests of any other constituent Grantor; provided that if
the surviving or resulting Grantors upon any such merger or consolidation involving an issuer which is a Controlled Foreign Corporation, then such Grantor shall only be required to pledge equity interests in accordance with Section 2.2 and
(iii) Grantor promptly complies with the delivery and control requirements of Section 4 hereof. 
 6.7 Intellectual
Property. 
 (a) it shall not do any act or omit to do any act whereby any of the Material Intellectual
Property may lapse, or become abandoned, canceled, dedicated to the public, forfeited, unenforceable or otherwise impaired, or which would adversely affect the validity, grant, or enforceability of the security interest granted therein; 

(b) it shall not, with respect to any Trademarks constituting Material Intellectual Property, cease the use of any of such
Trademarks or fail to maintain the level of the quality of products sold and services rendered under any of such Trademark at a level at least substantially consistent with the quality of such products and services as of the date hereof, and such
Grantor shall take all steps necessary to insure that licensees of such Trademarks use such consistent standards of quality; 
 (c) it shall, within thirty (30) days of the creation or acquisition or exclusive license of any copyrightable work that is included in the Material Intellectual Property, apply to register the
Copyright in the United States Copyright Office or, where appropriate, any foreign counterpart and, in the case of an exclusive Copyright License in respect of a registered Copyright, record such license, in the United States Copyright Office or,
where appropriate, any foreign counterpart; 
 (d) it shall promptly notify the Collateral Agent if it knows or
has reason to know that any item of Material Intellectual Property may become (i) abandoned or dedicated to the public or placed in the public domain, (ii) invalid or unenforceable, (iii) subject to any adverse determination or
development regarding such Grantor’s ownership, registration or use or the validity or enforceability of such item of Intellectual Property (including the institution of, or any adverse development with respect to, any action or proceeding in
the United States Patent and Trademark Office, the United States Copyright Office, any state registry, any foreign counterpart of the foregoing, or any court) or (iv) the subject of any reversion or termination rights; 

  
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 (e) it shall take all reasonable steps, including in any proceeding before
the United States Patent and Trademark Office, the United States Copyright Office, any state registry or any foreign counterpart of the foregoing, to pursue any application and maintain any registration or issuance of each Trademark, Patent, and
Copyright owned by or exclusively licensed to any Grantor and constituting Material Intellectual Property, including, but not limited to, those items on Schedule 5.2(II) (as such schedule may be amended or supplemented from time to time);

 (f) it shall use best efforts so as not to permit the inclusion in any contract to which it hereafter becomes
a party of any provision that could or may in any way materially impair or prevent the creation of a security interest in, or the assignment of, such Grantor’s rights and interests in any property included within the definitions of any Material
Intellectual Property acquired under such contracts; 
 (g) in the event that any Material Intellectual Property
owned by or exclusively licensed to any Grantor is infringed, misappropriated, diluted or otherwise violated by a third party, such Grantor shall promptly take all reasonable actions to stop such infringement, misappropriation, dilution or other
violation and protect its rights in such Material Intellectual Property including, but not limited to, the initiation of a suit for injunctive relief and to recover damages; 

(h) it shall take all steps reasonably necessary to protect the secrecy of all Trade Secrets constituting Material
Intellectual Property, including, without limitation, entering into confidentiality agreements with employees and consultants and labeling and restricting access to secret information and documents; 

(i) it shall use proper statutory notice in connection with its use of any of the Material Intellectual Property; and

 (j) it shall continue to collect, at its own expense, all amounts due or to become due to such Grantor in
respect of the Material Intellectual Property or any portion thereof. In connection with such collections, such Grantor may take (and, at the Collateral Agent’s reasonable direction, shall take) such action as such Grantor or the Collateral
Agent may deem reasonably necessary or advisable to enforce collection of such amounts. Notwithstanding the foregoing, the Collateral Agent shall have the right at any time, to notify, or require any Grantor to notify, any obligors with respect to
any such amounts of the existence of the security interest created hereby. 
 6.8 Miscellaneous. Each Grantor shall,
within sixty (60) days of the date hereof with respect to any Material Project Document that is a Non-Assignable Contract (other than any Material Contract which constitutes an Account, Chattel Paper or Payment Intangible of such Grantor) in
effect on the date hereof and within sixty (60) days after entering into any Material Project Document that is a Non-Assignable Contract after the Closing Date, request in writing the consent of the counterparty or counterparties to such
Non-Assignable Contract pursuant to the terms of such Non-Assignable Contract or applicable law to the assignment or granting of a security interest in such Non-

  
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Assignable Contract to Secured Party and use its best efforts to obtain such consent as soon as practicable thereafter. 
 SECTION 7. ACCESS; RIGHT OF INSPECTION AND FURTHER ASSURANCES; ADDITIONAL GRANTORS. 
 7.1 Access; Right of Inspection. The Collateral Agent shall at all times have full and free access during normal business hours to all the books, correspondence and records of each Grantor, and the
Collateral Agent and its representatives may examine the same, take extracts therefrom and make photocopies thereof, and each Grantor agrees to render to the Collateral Agent, at such Grantor’s cost and expense, such clerical and other
assistance as may be reasonably requested with regard thereto. The Collateral Agent and its representatives shall at all times also have the right to enter any premises of each Grantor and inspect any property of each Grantor where any of the
Collateral of such Grantor granted pursuant to this Agreement is located for the purpose of inspecting the same, observing its use or otherwise protecting its interests therein. 

7.2 Further Assurances. 
 (a) Each Grantor agrees that from time to time, at the expense of such Grantor, that it shall promptly execute and deliver all further instruments and documents, and take all further action, that may be
reasonably necessary, or that the Collateral Agent may reasonably request, in order to create and/or maintain the validity, perfection or priority of and protect any security interest granted or purported to be granted hereby or to enable the
Collateral Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral. Without limiting the generality of the foregoing, each Grantor shall: 

(i) file such financing or continuation statements, or amendments thereto, record security interests in Intellectual
Property and execute and deliver such other agreements, instruments, endorsements, powers of attorney or notices, as may be necessary or desirable, or as the Collateral Agent may reasonably request, in order to effect, reflect, perfect and preserve
the security interests granted or purported to be granted hereby; 
 (ii) take all actions necessary to ensure
the recordation of appropriate evidence of the Liens and security interest granted hereunder in any Intellectual Property with any intellectual property registry in which said Intellectual Property is registered or issued or in which an application
for registration or issuance is pending, including, without limitation, the United States Patent and Trademark Office, the United States Copyright Office and the various Secretaries of State; 

(iii) at any reasonable time, upon request by the Collateral Agent, assemble the Collateral and allow inspection of the
Collateral by the Collateral Agent, or persons designated by the Collateral Agent; 

  
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 (iv) at the Collateral Agent’s request, appear in and defend any action
or proceeding that may affect such Grantor’s title to or the Collateral Agent’s security interest in all or any part of the Collateral; and 
 (v) furnish the Collateral Agent with such information regarding the Collateral, including, without limitation, the location thereof, as the Collateral Agent may reasonably request from time to time.

 (b) Each Grantor hereby authorizes the Collateral Agent to file a Record or Records, including, without
limitation, financing or continuation statements, Intellectual Property Security Agreements and amendments and supplements to any of the foregoing, in any jurisdictions and with any filing offices as the Collateral Agent may determine, in its sole
discretion, are necessary or advisable to perfect or otherwise protect the security interest granted to the Collateral Agent herein. Such financing statements may describe the Collateral in the same manner as described herein or may contain an
indication or description of collateral that describes such property in any other manner as the Collateral Agent may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the
Collateral granted to the Collateral Agent herein, including, without limitation, describing such property as “all assets, whether now owned or hereafter acquired, developed or created” or words of similar effect. Each Grantor shall
furnish to the Collateral Agent from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Collateral Agent may reasonably request, all in reasonable
detail. 
 (c) Each Grantor hereby authorizes the Collateral Agent to modify this Agreement after obtaining such
Grantor’s approval of or signature to such modification by amending Schedule 5.2 (as such schedule may be amended or supplemented from time to time) to include reference to any right, title or interest in any existing Intellectual Property or
any Intellectual Property acquired or developed by any Grantor after the execution hereof or to delete any reference to any right, title or interest in any Intellectual Property in which any Grantor no longer has or claims any right, title or
interest. 
 7.3 Additional Grantors. From time to time subsequent to the date hereof, additional Persons may become
parties hereto as additional Grantors (each, an “Additional Grantor”), by executing a Pledge Supplement. Upon delivery of any such Pledge Supplement to the Collateral Agent, notice of which is hereby waived by Grantors, each
Additional Grantor shall be a Grantor and shall be as fully a party hereto as if Additional Grantor were an original signatory hereto. Each Grantor expressly agrees that its obligations arising hereunder shall not be affected or diminished by the
addition or release of any other Grantor hereunder, nor by any election of Collateral Agent not to cause any Subsidiary of Borrower to become an Additional Grantor hereunder. This Agreement shall be fully effective as to any Grantor that is or
becomes a party hereto regardless of whether any other Person becomes or fails to become or ceases to be a Grantor hereunder. 

  
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 SECTION 8. COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT. 

8.1 Power of Attorney. Each Grantor hereby irrevocably appoints the Collateral Agent (such appointment being coupled with an
interest) as such Grantor’s attorney-in-fact, with full authority in the place and stead of such Grantor and in the name of such Grantor, the Collateral Agent or otherwise, from time to time in the Collateral Agent’s discretion to take any
action and to execute any instrument that the Collateral Agent may deem reasonably necessary or advisable to accomplish the purposes of this Agreement, including, without limitation, the following: 

(a) upon the occurrence and during the continuance of any Event of Default, to obtain and adjust insurance required to be
maintained by such Grantor or paid to the Collateral Agent pursuant to the Loan Agreement; 
 (b) upon the
occurrence and during the continuance of any Event of Default, to ask for, demand, collect, sue for, recover, compound, receive and give acquittance and receipts for moneys due and to become due under or in respect of any of the Collateral;

 (c) upon the occurrence and during the continuance of any Event of Default, to receive, endorse and collect
any drafts or other instruments, documents and chattel paper in connection with clause (b) above; 
 (d)
upon the occurrence and during the continuance of any Event of Default, to file any claims or take any action or institute any proceedings that the Collateral Agent may deem necessary or desirable for the collection of any of the Collateral or
otherwise to enforce the rights of the Collateral Agent with respect to any of the Collateral; 
 (e) to prepare
and file any UCC financing statements against such Grantor as debtor; 
 (f) to prepare, sign, and file for
recordation in any intellectual property registry, appropriate evidence of the Lien and security interest granted herein in any Intellectual Property in the name of such Grantor as debtor; 

(g) to take or cause to be taken all actions necessary to perform or comply or cause performance or compliance with the
terms of this Agreement, including, without limitation, access to pay or discharge taxes or Liens (other than Permitted Liens) levied or placed upon or threatened against the Collateral, the legality or validity thereof and the amounts necessary to
discharge the same to be determined by the Collateral Agent in its sole discretion, any such payments made by the Collateral Agent to become obligations of such Grantor to the Collateral Agent, due and payable immediately without demand; and

 (h) generally (i) upon the occurrence and during the continuation of any Event of Default, to sell,
transfer, lease, license, pledge, make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though 

  
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the Collateral Agent were the absolute owner thereof for all purposes, and (ii) to do, at the Collateral Agent’s option and such Grantor’s expense, at any time or from time to
time, all acts and things that the Collateral Agent deems reasonably necessary to protect, preserve or realize upon the Collateral and the Collateral Agent’s security interest therein in order to effect the intent of this Agreement, all as
fully and effectively as such Grantor might do. 
 8.2 No Duty on the Part of Collateral Agent or Secured Parties. The
powers conferred on the Collateral Agent hereunder are solely to protect the interests of the Secured Parties in the Collateral and shall not impose any duty upon the Collateral Agent or any other Secured Party to exercise any such powers. The
Collateral Agent and the other Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be
responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 SECTION
9. REMEDIES. 
 9.1 Generally. 

(a) If any Event of Default shall have occurred and be continuing, the Collateral Agent may exercise in respect of the
Collateral, in addition to all other rights and remedies provided for herein or otherwise available to it at law or in equity, all the rights and remedies of the Collateral Agent on default under the UCC (whether or not the UCC applies to the
affected Collateral) to collect, enforce or satisfy any Secured Obligations then owing, whether by acceleration or otherwise, and also may pursue any of the following separately, successively or simultaneously: 

(i) require any Grantor to, and each Grantor hereby agrees that it shall at its expense and promptly upon request of the
Collateral Agent forthwith, assemble all or part of the Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a place to be designated by the Collateral Agent that is reasonably convenient to both parties;

 (ii) enter onto the property where any Collateral is located and take possession thereof with or without
judicial process; 
 (iii) prior to the disposition of the Collateral, store, process, repair or recondition the
Collateral or otherwise prepare the Collateral for disposition in any manner to the extent the Collateral Agent deems appropriate; and 
 (iv) without notice except as specified below or under the UCC, sell, assign, lease, license (on an exclusive or nonexclusive basis) or otherwise dispose of the Collateral or any part thereof in one or
more parcels at public or private sale, at any of the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, at such time or times and at such price or 

  
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prices and upon such other terms as the Collateral Agent may deem commercially reasonable. 
 (b) The Collateral Agent or any other Secured Party may be the purchaser of any or all of the Collateral at any public or private (to the extent to the portion of the Collateral being privately sold is of
a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations) sale in accordance with the UCC and the Collateral Agent, as collateral agent for and representative of the Secured Parties, shall
be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale made in accordance with the UCC, to use and apply any of the Secured Obligations as a
credit on account of the purchase price for any Collateral payable by the Collateral Agent at such sale. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part of any Grantor, and each
Grantor hereby waives (to the extent permitted by applicable law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Each Grantor
agrees that, to the extent notice of sale shall be required by law, at least ten (10) days notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable
notification. The Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and
place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Grantor agrees that it would not be commercially unreasonable for the Collateral Agent to dispose of the Collateral or
any portion thereof by using Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets. To the extent permitted under
applicable law, each Grantor hereby waives any claims against the Collateral Agent arising by reason of the fact that the price at which any Collateral may have been sold at such a private sale was less than the price which might have been obtained
at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Collateral to more than one offeree. If the proceeds of any sale or other disposition of the Collateral are insufficient to pay all the Secured
Obligations, Grantors shall be liable for the deficiency and the fees of any attorneys employed by the Collateral Agent to collect such deficiency. Each Grantor further agrees that a breach of any of the covenants contained in this Section will
cause irreparable injury to the Collateral Agent, that the Collateral Agent has no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this Section shall be specifically enforceable
against such Grantor, and such Grantor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a defense that no default has occurred giving rise to the Secured Obligations becoming
due and payable prior to their stated maturities. Nothing in this Section shall in any way limit the rights of the Collateral Agent hereunder. 
 (c) The Collateral Agent may sell the Collateral without giving any warranties as to the Collateral. The Collateral Agent may specifically disclaim or modify

  
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any warranties of title or the like. This procedure will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. 

(d) The Collateral Agent shall have no obligation to marshal any of the Collateral. 

9.2 Application of Proceeds. Except as expressly provided elsewhere in this Agreement, all proceeds received by the Collateral
Agent in respect of any sale of, any collection from, or other realization upon all or any part of the Collateral shall be applied in full or in part by the Collateral Agent against, the Secured Obligations in the following order of priority:
first, to the payment of all reasonable costs and expenses of such sale, collection or other realization, including reasonable compensation to the Collateral Agent and its agents and counsel, and all other expenses, liabilities and advances
made or incurred by the Collateral Agent in connection therewith, and all amounts for which the Collateral Agent is entitled to indemnification hereunder (in its capacity as the Collateral Agent and not as a Lender) and all advances made by the
Collateral Agent hereunder for the account of the applicable Grantor, and to the payment of all costs and expenses paid or incurred by the Collateral Agent in connection with the exercise of any right or remedy hereunder or under the Loan Agreement,
all in accordance with the terms hereof or thereof; second, to the extent of any excess of such proceeds, to the payment of all other Secured Obligations for the ratable benefit of the Lenders; and third, to the extent of any excess of
such proceeds, to the payment to or upon the order of the applicable Grantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 

9.3 Sales on Credit. If Collateral Agent sells any of the Collateral upon credit, Grantor will be credited only with payments
actually made by purchaser and received by Collateral Agent and applied to indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, Collateral Agent may resell the Collateral and Grantor shall be credited with
proceeds of the sale. 
 9.4 Investment Related Property. Each Grantor recognizes that, by reason of certain prohibitions
contained in the Securities Act and applicable state securities laws, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Investment Related Property conducted without prior registration or qualification of such
Investment Related Property under the Securities Act and/or such state securities laws, to limit purchasers to those who will agree, among other things, to acquire the Investment Related Property for their own account, for investment and not with a
view to the distribution or resale thereof. Each Grantor acknowledges that any such private sale may be at prices and on terms less favorable than those obtainable through a public sale without such restrictions (including a public offering made
pursuant to a registration statement under the Securities Act) and, notwithstanding such circumstances, each Grantor agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the Collateral
Agent shall have no obligation to engage in public sales and no obligation to delay the sale of any Investment Related Property for the period of time necessary to permit the issuer thereof to register it for a form of public sale requiring
registration under the Securities Act or under applicable 

  
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state securities laws, even if such issuer would, or should, agree to so register it. If the Collateral Agent determines to exercise its right to sell any or all of the Investment Related
Property, upon written request, each Grantor shall and shall cause each issuer of any Pledged Stock to be sold hereunder, each partnership and each limited liability company from time to time to furnish to the Collateral Agent all such information
as the Collateral Agent may request in order to determine the number and nature of interest, shares or other instruments included in the Investment Related Property which may be sold by the Collateral Agent in exempt transactions under the
Securities Act and the rules and regulations of the Securities and Exchange Commission thereunder, as the same are from time to time in effect. 
 9.5 Grant of Intellectual Property License. For the purpose of enabling the Collateral Agent, during the continuance of an Event of Default, to exercise rights and remedies under Section 9
hereof at such time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies, and for no other purpose, each Grantor hereby grants to the Collateral Agent, to the extent assignable, an irrevocable, non-exclusive
license (exercisable without payment of royalty or other compensation to such Grantor), subject, in the case of Trademarks, to sufficient rights to quality control and inspection in favor of such Grantor to avoid the risk of invalidation of such
Trademarks, to use, assign, license or sublicense any of the Intellectual Property now owned or hereafter acquired, developed or created by such Grantor, wherever the same may be located. Such license shall include access to all media in which any
of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout hereof. 

9.6 Intellectual Property. 
 (a) Anything contained herein to the contrary notwithstanding, in addition to the other rights and remedies provided herein, upon the occurrence and during the continuation of an Event of Default:

 (i) the Collateral Agent shall have the right (but not the obligation) to bring suit or otherwise commence any
action or proceeding in the name of any Grantor, the Collateral Agent or otherwise, in the Collateral Agent’s sole discretion, to enforce any Intellectual Property rights of such Grantor, in which event such Grantor shall, at the request of the
Collateral Agent, do any and all lawful acts and execute any and all documents required by the Collateral Agent in aid of such enforcement, and such Grantor shall promptly, upon written demand, reimburse and indemnify the Collateral Agent as
provided in Section 12 hereof in connection with the exercise of its rights under this Section 9.6, and, to the extent that the Collateral Agent shall elect not to bring suit to enforce any Intellectual Property rights as provided in this
Section 9.6, each Grantor agrees to use all reasonable measures, whether by action, suit, proceeding or otherwise, to prevent the infringement, misappropriation, dilution or other violation of any of such Grantor’s rights in the
Intellectual Property by others and for that purpose agrees to diligently maintain any action, suit or proceeding against any Person so 

  
 32 

 
infringing, misappropriating, diluting or otherwise violating as shall be necessary to prevent such infringement, misappropriation, dilution or other violation; 

(ii) upon written demand from the Collateral Agent, each Grantor shall grant, assign, convey or otherwise transfer to the
Collateral Agent or such Collateral Agent’s designee all of such Grantor’s right, title and interest in and to any Intellectual Property and shall execute and deliver to the Collateral Agent such documents as are necessary or appropriate
to carry out the intent and purposes of this Agreement; 
 (iii) each Grantor agrees that such an assignment
and/or recording shall be applied to reduce the Secured Obligations outstanding only to the extent that the Collateral Agent (or any other Secured Party) receives cash proceeds in respect of the sale of, or other realization upon, any such
Intellectual Property; 
 (iv) within five (5) Business Days after written notice from the Collateral Agent,
each Grantor shall make available to the Collateral Agent, to the extent within such Grantor’s power and authority, such personnel in such Grantor’s employ on the date of such Event of Default as the Collateral Agent may reasonably
designate, by name, title or job responsibility, to permit such Grantor to continue, directly or indirectly, to produce, advertise and sell the products and services sold or delivered by such Grantor under or in connection with any Trademarks or
Trademark Licenses, such persons to be available to perform their prior functions on the Collateral Agent’s behalf and to be compensated by the Collateral Agent at such Grantor’s expense on a per diem, pro-rata basis consistent with the
salary and benefit structure applicable to each as of the date of such Event of Default; and 
 (v) the
Collateral Agent shall have the right to notify, or require each Grantor to notify, any obligors with respect to amounts due or to become due to such Grantor in respect of any Intellectual Property of such Grantor, of the existence of the security
interest created herein, to direct such obligors to make payment of all such amounts directly to the Collateral Agent, and, upon such notification and at the expense of such Grantor, to enforce collection of any such amounts and to adjust, settle or
compromise the amount or payment thereof, in the same manner and to the same extent as such Grantor might have done; 
 (1) all amounts and proceeds (including checks and other instruments) received by Grantor in respect of amounts due to such Grantor in respect of the Collateral or any portion thereof shall be received in
trust for the benefit of the Collateral Agent hereunder, shall be segregated from other funds of such Grantor and shall be forthwith paid over or delivered to the Collateral Agent in the same form as so received (with any necessary endorsement) to
be held as cash Collateral and applied as provided by Section 9.7 hereof; and 

  
 33 

 (2) Grantor shall not adjust, settle or compromise the amount or payment of
any such amount or release wholly or partly any obligor with respect thereto or allow any credit or discount thereon. 
 (b) If (i) an Event of Default shall have occurred and, by reason of cure, waiver, modification, amendment or otherwise, no longer be continuing, (ii) no other Event of Default shall have
occurred and be continuing, (iii) an assignment or other transfer to the Collateral Agent of any rights, title and interests in and to any Intellectual Property of such Grantor shall have been previously made and shall have become absolute and
effective, and (iv) the Secured Obligations shall not have become immediately due and payable, upon the written request of any Grantor, the Collateral Agent shall promptly execute and deliver to such Grantor, at such Grantor’s sole cost
and expense, such assignments or other transfer as may be necessary to reassign to such Grantor any such rights, title and interests as may have been assigned to the Collateral Agent as aforesaid, subject to any disposition thereof that may have
been made by the Collateral Agent; provided, after giving effect to such reassignment, the Collateral Agent’s security interest granted pursuant hereto, as well as all other rights and remedies of the Collateral Agent granted hereunder, shall
continue to be in full force and effect; and provided further, the rights, title and interests so reassigned shall be free and clear of any other Liens granted by or on behalf of the Collateral Agent and the Secured Parties. 

9.7 Cash Proceeds; Deposit Accounts. (a) If any Event of Default shall have occurred and be continuing, in addition to the
rights of the Collateral Agent specified in Section 6.5 with respect to payments of Receivables, all proceeds of any Collateral received by any Grantor consisting of cash, checks and other near-cash items (collectively, “Cash
Proceeds”) shall be held by such Grantor in trust for the Collateral Agent, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Collateral Agent in the exact form received by
such Grantor (duly indorsed by such Grantor to the Collateral Agent, if required) and held by the Collateral Agent in the an account established at the Collateral Agent, as directed by the Lenders. Any Cash Proceeds received by the Collateral Agent
(whether from a Grantor or otherwise) may, in the sole discretion of the Collateral Agent, (A) be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured
or unmatured) and/or (B) then or at any time thereafter may be applied by the Collateral Agent against the Secured Obligations then due and owing. 
 (b) If any Event of Default shall have occurred and be continuing, the Collateral Agent may apply the balance from any Deposit Account or instruct the bank at which any Deposit Account is maintained to
pay the balance of any Deposit Account to or for the benefit of the Collateral Agent. 
 SECTION 10. COLLATERAL AGENT. 

The Collateral Agent has been appointed to act as Collateral Agent hereunder by Lenders and, by their acceptance of the benefits hereof,
the other Secured Parties. The Collateral Agent shall be obligated, and shall have the right hereunder, to 

  
 34 

 
make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of
Collateral), solely in accordance with this Agreement and the Loan Agreement. In furtherance of the foregoing provisions of this Section, each Secured Party, by its acceptance of the benefits hereof, agrees that it shall have no right individually
to realize upon any of the Collateral hereunder, it being understood and agreed by such Secured Party that all rights and remedies hereunder may be exercised solely by the Collateral Agent for the benefit of Secured Parties in accordance with the
terms of this Section. The provisions of the Loan Agreement relating to the Collateral Agent including, without limitation, the provisions relating to resignation or removal of the Collateral Agent and the powers and duties and immunities of the
Collateral Agent are incorporated herein by this reference and shall survive any termination of the Loan Agreement. 
 SECTION 11. CONTINUING
SECURITY INTEREST; TRANSFER OF LOANS. 
 This Agreement shall create a continuing security interest in the Collateral and
shall remain in full force and effect until the payment in full of all Secured Obligations and the cancellation or termination of the Loan Commitments, be binding upon each Grantor, its successors and assigns, and inure, together with the rights and
remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent and its successors, transferees and assigns. Without limiting the generality of the foregoing, but subject to the terms of the Loan Agreement, any Lender may assign
or otherwise transfer any Loans held by it to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to Lenders herein or otherwise. Upon the payment in full of all Secured Obligations
and the cancellation or termination of the Loan Commitments, the security interest granted hereby shall automatically terminate hereunder and of record and all rights to the Collateral shall revert to the Grantors. Upon any such termination the
Collateral Agent shall, at the Grantors’ expense, execute and deliver to the Grantors or otherwise authorize the filing of such documents as the Grantors shall reasonably request, including financing statement amendments to evidence such
termination. 
 In addition, and notwithstanding anything to the contrary set forth herein, upon any disposition of property by
any Grantor (including without limitation the disposition of any Pledged Equity Interests of a Grantor) permitted by the Loan Agreement, the Liens granted herein on all such disposed of Collateral pledged by such Grantor (and, in the case of a
disposition of any Pledged Equity Interests of a Grantor, all such Pledged Equity Interests in such Grantor held directly or indirectly by the Borrower) shall be deemed to be automatically released, such property shall automatically revert to the
applicable Grantor, and in the case of a disposition of any Pledged Equity Interests of a Grantor, such Grantor shall no longer be a Grantor hereunder and the Collateral held by such Grantor shall be deemed to be automatically released, in each case
with no further action on the part of any Person. The Collateral Agent shall, at the applicable Grantor’s or the Borrower’s expense, execute and deliver or otherwise authorize the filing of such documents as such Grantor or the Borrower
shall reasonably request, in form and 

  
 35 

 
substance reasonably satisfactory to the Collateral Agent, including financing statement amendments to evidence such release. 
 SECTION 12. STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM. 
 The powers
conferred on the Collateral Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the exercise of reasonable care in the custody of any Collateral in its
possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights
pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the
Collateral Agent accords its own property. Neither the Collateral Agent nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in
doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or otherwise. If any Grantor fails to perform any agreement contained herein, the Collateral Agent may itself perform, or cause
performance of, such agreement, and the expenses of the Collateral Agent incurred in connection therewith shall be payable by each Grantor under Section 12.11 of the Loan Agreement. 
 SECTION 13. MISCELLANEOUS. 
 Any notice required or permitted to be given
under this Agreement shall be given in accordance with Section 12.2 of the Loan Agreement. No failure or delay on the part of the Collateral Agent in the exercise of any power, right or privilege hereunder or under any other Credit Document
shall impair such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any
other power, right or privilege. All rights and remedies existing under this Agreement and the other Credit Documents are cumulative to, and not exclusive of, any rights or remedies otherwise available. In case any provision in or obligation under
this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way
be affected or impaired thereby. All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or would
otherwise be within the limitations of, another covenant shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists. This Agreement shall be binding upon and inure to the benefit of the Collateral
Agent and the Grantors and their respective successors and assigns. No Grantor shall, without the prior written consent of the Collateral Agent given in accordance with the Loan Agreement, assign any right, duty or obligation hereunder. This
Agreement and the other Credit Documents embody the entire agreement and 

  
 36 

 
understanding between the Grantors and the Collateral Agent and supersede all prior agreements and understandings between such parties relating to the subject matter hereof and thereof.
Accordingly, the Credit Documents may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. There are no unwritten oral agreements between the parties. This Agreement may be executed in one or more
counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
 SECTION 14. GOVERNING LAW. This Agreement has been negotiated and delivered to the Collateral Agent in the State of California, and shall have been accepted by Lender in the State of California.
Payment to Lenders by any Grantors of the Secured Obligations is due in the State of California. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws
principles that would cause the application of laws of any other jurisdiction. 
 SECTION 15. CONSENT TO JURISDICTION AND VENUE.

 All judicial proceedings (to the extent that the reference requirement of Section 16 is not applicable) arising in
or under or related to this Agreement may be brought in any state or federal court located in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to nonexclusive
personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue
in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be
effective if given in accordance with the requirements for notice set forth in Section 12.2 of the Loan Agreement, and shall be deemed effective and received as set forth in Section 12.2 of the Loan Agreement. Nothing herein shall affect
the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 
 SECTION 16. MUTUAL WAIVER OF JURY TRIAL / JUDICIAL REFERENCE. 
 (a) Because
disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the
parties desire that their disputes be resolved by a judge applying such applicable laws. EACH GRANTOR AND THE COLLATERAL AGENT SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD
PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) 

  
 37 

 
ASSERTED BY ANY GRANTOR AGAINST THE COLLATERAL AGENT OR ITS ASSIGNEE OR BY LENDER OR ITS ASSIGNEE AGAINST ANY GRANTOR. This waiver extends to all such Claims, including Claims that involve
Persons other than any Grantor and the Collateral Agent; Claims that arise out of or are in any way connected to the relationship between each Grantor and the Collateral Agent; and any Claims for damages, breach of contract, tort, specific
performance, or any equitable or legal relief of any kind, arising out of this Agreement. 
 (b) If the waiver of jury trial set
forth in Section 16(a) is ineffective or unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually
acceptable referee or, if the parties cannot agree, a referee selected by the Presiding Judge of the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and
discovery applicable to such proceeding. 
 (c) In the event Claims are to be resolved by judicial reference, either party may
seek from a court identified in Section 15, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject
to resolution by judicial reference. 
 [Remainder of Page Intentionally Left Blank] 

  
 38 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this Agreement to be
duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above. 
  

			
	BRIGHTSOURCE ENERGY, INC.,
as Grantor
		
	By:	 	/s/ John F. Jenkins-Stark
	Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	BRIGHTSOURCE CONSTRUCTION MANAGEMENT, INC.,
as Grantor
		
	By:	 	/s/ John F. Jenkins-Stark
	Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	SOLAR PARTNERS I, LLC,
as Grantor
	
	 By:     BrightSource Energy, Inc.

    Managing Member

		
	By:	 	/s/ John F. Jenkins-Stark
	Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	SOLAR PARTNERS II, LLC,
as Grantor
	
	 By:     BrightSource Energy, Inc.

    Managing Member

		
	By:	 	/s/ John F. Jenkins-Stark
	Name:	 	John F. Jenkins-Stark
	Title:	 	CFO

 
			
	
	SOLAR PARTNERS VIII, LLC,
as Grantor
	
	 By:     BrightSource Energy, Inc.

    Managing Member

		
	By:	 	/s/ John F. Jenkins-Stark
	Name:	 	John F. Jenkins-Stark
	Title:	 	CFO
	
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.,
as Collateral Agent
		
	By:	 	/s/ K. Nicholas Martitsch
	Name:	 	K. Nicholas Martitsch
	Title:	 	Authorized Signatory

 SCHEDULE 5.1 
 TO PLEDGE AND SECURITY AGREEMENT 
 GENERAL INFORMATION 

 

	(A)	Full Legal Name, Type of Organization, Jurisdiction of Organization, Chief Executive Office/Sole Place of Business (or Residence if Grantor is a Natural Person) and
Organizational Identification Number of each Grantor: 

  

									
	 Full Legal
Name
	  	 Type of
Organization
	  	 Jurisdiction of
Organization
	  	 Chief Executive

Office/Sole Place
of Business (or Residence if
Grantor is a Natural Person)
	  	 Organization I.D.#

	BrightSource Energy, Inc.	  	Corporation	  	Delaware	  	1999 Harrison Street, Suite 2150, Oakland, CA 94612	  	76-0836010
					
	BrightSource Construction Management, Inc.	  	Corporation	  	Delaware	  	1999 Harrison Street, Suite 2150, Oakland, CA 94612	  	37-1553368
					
	Solar Partners I, LLC	  	Limited Liability Company	  	Delaware	  	1999 Harrison Street, Suite 2150, Oakland, CA 94612	  	20-8812461
					
	Solar Partners II, LLC	  	Limited Liability Company	  	Delaware	  	1999 Harrison Street, Suite 2150, Oakland, CA 94612	  	36-4608152
					
	Solar Partners VIII, LLC	  	Limited Liability Company	  	Delaware	  	1999 Harrison Street, Suite 2150, Oakland, CA 94612	  	36-4608159

  

	(B)	Other Names (including any Trade Name or Fictitious Business Name) under which each Grantor currently conducts business: 

 

			
	 Full Legal Name
	  	 Trade Name or Fictitious Business Name

	 N/A
	  	

	(C)	Changes in Name, Jurisdiction of Organization, Chief Executive Office or Sole Place of Business (or Principal Residence if Grantor is a Natural Person) and Corporate
Structure within past five (5) years: 

  

					
	 Grantor
	  	 Date of Change
	  	 Description of Change

	BrightSource Energy, Inc.	  	August 17, 2006	  	Change in name from “Luz II, LLC” to “Luz II, Inc.”
			
	BrightSource Energy, Inc.	  	August 17, 2006	  	Conversion from LLC to corporation
			
	BrightSource Energy, Inc.	  	December 19, 2006	  	Change in name from “Luz II, Inc.” to “Bright Source Energy, Inc.”
			
	BrightSource Energy, Inc.	  	May 15, 2007	  	Change in name from “Bright Source Energy, Inc.” to “BrightSource Energy, Inc.”
			
	Solar Partners I, LLC	  	March 26, 2007	  	Change in name from “DPT Ivanpah, LLC” to “Solar Partners I, LLC”
			
	Solar Partners II, LLC	  	March 26, 2007	  	Change in name from “DPT Ivanpah 2, LLC” to “Solar Partners II, LLC”
			
	BrightSource Construction Management, Inc.	  	February 15, 2008	  	Change in name from “BrightSource Engineering & Construction, Inc.” to “BrightSource Construction Management, Inc.”

 

	(D)	Agreements pursuant to which any Grantor is bound as debtor under a security agreement within past five (5) years: 

 

			
	 Grantor
	  	 Description of Agreement

	 None.
	  	

  
 SCHEDULE 5.1-2

 SCHEDULE 5.2 
 TO PLEDGE AND SECURITY AGREEMENT 
 COLLATERAL IDENTIFICATION 

 

	I.	INVESTMENT RELATED PROPERTY 

  

	(A)	Pledged Stock: 

  

															
	 Grantor
	  	 Stock Issuer
	  	 Class of
Stock
	  	 Certificated
(Y/N)
	  	 Stock
Certificate
No.
	  	 Par Value
	  	 No. of
Pledged
Stock
	  	
Percentage
of
Outstanding
Equity
Pledged

	BrightSource Energy, Inc.	  	BrightSource Construction Management, Inc.	  	Common	  	Y	  	CS-1	  	$.001 per share	  	10,000	  	100%
								
	BrightSource Energy, Inc.	  	BrightSource Industries (Israel) Ltd. (“BSII”)	  	Ordinary Shares	  	Y	  	No. 2	  	No par	  	66	  	66%
								
	BrightSource Energy, Inc.	  	BrightSource Operations (Israel) Ltd. (“BSOI”)	  	Ordinary Shares	  	Y	  	No. 2	  	No par	  	66	  	66%
								
	BrightSource Energy, Inc.	  	BrightSource Energy Australia Pty Ltd1	  	Ordinary Shares	  	Y	  	No. 1	  	N/A	  	66	  	66%

 Pledged LLC Interests:

  

											
	 Grantor
	  	 Limited
Liability
Company
	  	 Certificated
(Y/N)
	  	 Certificate No.
(if any)
	  	 No. of Pledged
Units
	  	 Percentage of
Outstanding
LLC Interests of
the
Limited
Liability
Company
Pledged

	BrightSource Energy, Inc.	  	Solar Partners I, LLC	  	N	  	N/A	  	N/A	  	100%
						
	BrightSource Energy, Inc.	  	Solar Partners II, LLC	  	N	  	N/A	  	N/A	  	100%
						
	BrightSource Energy, Inc.	  	Solar Partners III, LLC	  	N	  	N/A	  	N/A	  	100%
						
	BrightSource Energy, Inc.	  	Solar Partners IV, LLC	  	N	  	N/A	  	N/A	  	100%

  

	1 	 Shares will be pledged, but no lien shall be perfected until such time as BrightSource Energy Australia Pty Ltd has assets of material value to
BrightSource Energy, Inc. on a consolidated basis. 

													
	 Grantor
	  	 Limited
Liability
Company
	  	 Certificated
(Y/N)
	  	 Certificate No.
(if any)
	  	 No. of Pledged
Units
	  	Percentage of
Outstanding
LLC Interests of
the
Limited
Liability
Company
Pledged	 
	BrightSource Energy, Inc.	  	Solar Partners V, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners VI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners VII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners VIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners IX, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners X, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XIV, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XV, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XVI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XVII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XVIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XIX, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XX, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XXI, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XXII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Solar Partners XXIII, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Rebel Hidden Valley, LLC	  	N	  	N/A	  	N/A	  	 	100	% 

  
 SCHEDULE 5.2-2

													
	 Grantor
	  	 Limited
Liability
Company
	  	 Certificated
(Y/N)
	  	 Certificate No.
(if any)
	  	 No. of Pledged
Units
	  	Percentage of
Outstanding
LLC Interests of
the
Limited
Liability
Company
Pledged	 
	BrightSource Energy, Inc.	  	Wildcat Abrams, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Jojoba, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Harcuvar South, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Pinal West, LLC	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat Quartzsite, LLC (formerly Wildcat Saguaro, LLC)	  	N	  	N/A	  	N/A	  	 	100	% 
						
	BrightSource Energy, Inc.	  	Wildcat White Hills, LLC	  	N	  	N/A	  	N/A	  	 	100	% 

 Pledged Partnership Interests: 

 

													
	 Grantor
	  	 Partnership
	  	 Type of
Partnership
Interests (e.g.,
general
or
limited)
	  	 Certificated
(Y/N)
	  	 Certificate No.

(if any)
	  	Percentage of
Outstanding
Partnership
Interests of 
the
Partnership
Pledged	 
	 N/A
	  		  		  		  		  			

 Trust Interests or other Equity Interests not listed above: 

 

													
	 Grantor
	  	 Trust
	  	 Class of Trust
Interests
	  	 Certificated
(Y/N)
	  	 Certificate No.

(if any)
	  	Percentage of
Outstanding
Trust Interests
of the Trust
Pledged	 
	 N/A
	  		  		  		  		  			

  
 SCHEDULE 5.2-3

 Pledged Debt: 
  

													
	 (2) Pledged
Debt
	  	 Lender
	  	 Borrower
	  	Total
Principal
Amount	 	Total Outstanding
Principal	 	 Issue Date
	  	 Maturity

	 Promissory Note
	  	BSE	  	BSII	  	[*]	 	[*]	 	December 31,2009	  	January 1, 2012
	 Promissory Note
	  	BSE	  	SP I	  	[*]	 	[*]	 	December 17, 2010	  	December 31, 2011 or date of Ivanpah Project Financing
	 Promissory Note
	  	BSE	  	SP II	  	[*]	 	[*]	 	December 17, 2010	  	December 31, 2011 or date of Ivanpah Project Financing
	 Promissory Note
	  	BSE	  	SP VIII	  	[*]	 	[*]	 	March 11, 2008	  	March 31, 2011
	 Loan Agreement
	  	BSE	  	BSCM	  	[*]	 	[*]	 	December 20, 2010	  	No Stated Maturity Date
	 Loan Agreement
	  	BSE	  	SP I	  	[*]	 	[*]	 	September 22, 2010	  	September 22, 2011
	 Loan Agreement
	  	BSE	  	SP II	  	[*]	 	[*]	 	September 22, 2010	  	September 22, 2011
	 Loan Agreement
	  	BSE	  	SP VIII	  	[*]	 	[*]	 	September 22, 2010	  	September 22, 2011

  

													
	 (3) Securities
Accounts
	  	 Account

Holder
	  	 Investment
Manager
	  	Investment
Amount	 	 Investment Type
	  	 Account
Number
	  	 Balance

as of Date

		  	BSE	  	 [*]
	  	[*]	 	U.S Treasury MMF	  	 [*]
	  	December 17, 2010
		  	BSE	  	 [*]
	  	[*]	 	U.S Treasury MMF	  	 [*]
	  	December 17, 2010
		  	SP II	  	 [*]
	  	[*]	 	Business MMA	  	 [*]
	  	December 17, 2010

  

													
	 (4) Deposit
Accounts
	  	 	  	 Banking
Organization
	  	Account
Balance	 	 Account Type
	  	 Account
Number
	  	 Balance

as of Date

		  	BSE	  	 [*]
	  	[*]	 	Operating / Checking	  	 [*]
	  	December 17, 2010
		  	BSE	  	 [*]
	  	[*]	 	Operating / Checking	  	 [*]
	  	December 17, 2010
		  	BSE	  	 [*]
	  	[*]	 	Operating / Checking	  	 [*]
	  	December 17, 2010
		  	BSCM	  	 [*]
	  	[*]	 	Operating / Checking	  	 [*]
	  	December 17, 2010
		  	SPII	  	 [*]
	  	[*]	 	Operating / Checking	  	 [*]
	  	December 17, 2010
		  	BSE	  	 [*]
	  	[*]	 	MCA /
Operating	  	 [*]
	  	December 17, 2010
		  	BSE	  	 [*]
	  	[*]	 	MCA /
Operating	  	 [*]
	  	December 17, 2010

 * Confidential Treatment Requested

  
 SCHEDULE 5.2-4

													
	 (4) Deposit
Accounts
	  	 	  	 Banking
Organization
	  	Account
Balance	 	 Account
Type
	  	 Account
Number
	  	 Balance

as of Date

	Anticipated to be opened on December 23, 2010*	  	BSE	  	 [*]
	  	[*]	 	Interest Reserve for HTGC	  	 [*]
	  	NA
	Restricted Account maintain by Goldman*	  	BSE	  	 [*]
	  	[*]	 	Interest Reserve for Goldman as Collateral Agent	  	 [*]
	  	December 22, 2010

  

	*	BSE’s control over and rights to these accounts is currently completely restricted. 

II. INTELLECTUAL PROPERTY 
  

	(A)	Copyrights 

  

									
	 Grantor
	  	 Jurisdiction
	  	 Title of Work
	  	 Registration Number
(if any)
	  	 Registration Date
(if any)

	 N/A
	  		  		  		  	

  

	(B)	Copyright Licenses 

  

							
	 Grantor
	  	 Description of Copyright
License
	  	 Registration Number (if
any) of
underlying
Copyright
	  	 Name of Licensor

	 N/A
	  		  		  	

 * Confidential Treatment Requested 

  
 SCHEDULE 5.2-5

	(C)	Patents 

  

									
	 Grantor
	  	 Jurisdiction
	  	 Title of Patent
	  	 Patent
Number/(Application
Number)
	  	 Issue Date/(Filing
Date)

	See Attachment I Patent Schedule	  		  		  		  	

  

	(D)	Patent Licenses 

  

							
	 Grantor
	  	 Description of Patent
License
	  	 Patent Number of
underlying Patent
	  	 Name of Licensor

	 N/A
	  		  		  	

  

	(E)	Trademarks 

  

									
	 Grantor
	  	 Jurisdiction
	  	 Trademark
	  	
Registration
Number/(Serial
Number)
	  	 Registration
Date/(Filing Date)

	See Attachment II Trademark Schedule	  		  		  		  	

  

	(F)	Trademark Licenses 

  

							
	 Grantor
	  	 Description of Trademark
License
	  	 Registration Number of
underlying
Trademark
	  	 Name of Licensor

	 N/A
	  		  		  	

  

	(G)	Trade Secret Licenses 

  

	 	1.	Assignment Agreement dated October 24, 2006 between Borrower and Los Angeles Advisory Services Incorporated (“LAAS”). LAAS is a major stockholder
of the Borrower and is in turn owned by Arnold J. Goldman, the Borrower’s founder and Chairman, and members of his immediate family. 

  

	 	2.	 Consulting Letter of Agreement among Borrower, Dr. Arieh Meitav and Electrochemical Technologies Consultancy & Services
(“ELT”) dated March 1, 2006. Borrower is obligated to pay certain royalties to ELT or Dr. Meitav in the event any intellectual property developed 

  
 SCHEDULE 5.2-6

	 	 
by Dr. Meitav pursuant to this agreement is patented by Borrower. [*]. 

  

	 	3.	Invention Assignment Agreement between Borrower and Yuri Kokotov dated June 1, 2006. Borrower is obligated to pay Mr. Kokotov royalties, up to a maximum
of $[*], in the event that Borrower derives revenues from sales of Solar Electricity Generating Systems (as described in the agreement) which incorporate certain intellectual property, if any, developed by Mr. Kokotov and assigned to the
Borrower. In addition, if Borrower receives a patent based on the intellectual property developed by Mr. Kokotov related to Solar Electricity Generating Systems and assigned to Borrower, and the intellectual property is sold to third
parties or licensed as an independent product then Borrower is obligated to pay additional royalties to Mr. Kokotov, up to a maximum of $[*] (exclusive of the royalties paid, if any, described in the prior sentence). 

 

	 	4.	Invention Assignment Agreement between Borrower and Yuri Kokotov dated February 4, 2005. Borrower is obligated to pay Mr. Kokotov certain royalties, up
to a maximum of $[*], in the event Borrower derives revenues from sales of algae produced by a Water Fall Bioreactor (as described in the agreement) which incorporate certain intellectual property, if any, developed by Mr. Kokotov and assigned
to the Borrower. In addition, if Borrower receives a patent based on the intellectual property developed by Mr. Kokotov related to and assigned to Borrower, and the intellectual property is sold to third parties or licensed as an
independent product then Borrower is obligated to pay additional royalties to Mr. Kokotov, up to a maximum of $[*] (exclusive of the royalties paid, if any, described in the prior sentence). 

 

	 	5.	Non-binding Letter of Intent dated February 6, 2009 between Borrower and Arizona State University for the development of AZ Smart (Arizona Solar market analysis
and research tool). Borrower expressed an interest in contributing up to $[*] in support of the project in collaboration with Science Foundation of Arizona and its Arizona Solar Technology Institute on an annual basis, payable on a
milestone-achieved basis, after additional review of the project proposal. 

  

	 	6.	Unit 1 Purchasing Agreement between BrightSource Construction Management, Inc. and Riley Power Inc. dated as of August 12, 2010 (BSCM Internal WBS Code
No. 130-60012-2-13600-10-0120). [*]. 

  

	 	7.	Unit 2 Purchasing Agreement between BrightSource Construction Management, Inc. and Riley Power Inc. dated as of August 12, 2010 (BSCM Internal WBS Code
No. 130-60046-2-13600-10-0110). [*]. 

  

	 	8.	Unit 3 Purchasing Agreement between BrightSource Construction Management, Inc. and Riley Power Inc. dated as of August 12, 2010 (BSCM Internal WBS Code
No. 130-60028-2-13600-10-0110). [*]. 

  

	*	Confidential Treatment Requested 

  
 SCHEDULE 5.2-7

 III. COMMERCIAL TORT CLAIMS 

 

					
	 Grantor
	  	 Commercial Tort Claims
	  	 
	 N/A
	  		  	

 IV. LETTER OF CREDIT RIGHTS 

 

					
	 Grantor
	  	 Description of Letters of Credit
	  	 
	 N/A
	  		  	

 V. WAREHOUSEMAN, BAILEES AND OTHER THIRD PARTIES IN POSSESSION OF COLLATERAL 

 

					
	 Grantor
	  	 Description of Property
	  	 Name and Address of Third Party

	 N/A
	  		  	

  
 SCHEDULE 5.2-8

 Attachment I 

Patents 
  

									
	 ID
	  	 FILED
	  	 TITLE
	  	 STATUS
	  	 Record Owner

	
	PENDING US UTILITY AND PCT APPLICATIONS
					
	 103
	  	01 Mar 07	  	High temperature pipeline	  	US application 11/681,146	  	BSE
					
	 201
	  	12 Mar 07	  	Hybrid generation with alternative fuel sources	  	US application 11/685,144; Responded to non-final office action August 2010	  	BSE
					
	 204
	  	06 Apr 07	  	Solar plant employing cultivation of organisms	  	PCT application PCT/US07/66195; US application filed 06 Oct 08 as 12/246,422	  	BSE
					
	 102
	  	1 Aug 07	  	High density bioreactor system, devices and methods	  	US application 11/832,201 Responded to non-final office action June 2010	  	BSE
		
	PENDING NON-US APPLICATIONS	  	
					
	 105
	  	13 May 07	  	High temperature solar receiver	  	Israel application IL 183154	  	BSE
					
	 102
	  	1 Aug 07	  	High density bioreactor system, devices and methods	  	Israel application IL 184971	  	BSE
		
	ISSUED PATENTS	  	
					
	 108
	  	20 Jan 04	  	Low Emission Energy Source	  	US Pat No. 7,191,736 Issued March 20, 2007	  	BSE
					
	 110
	  	14 Jun 05	  	Hybrid generation with alternative fuel sources	  	US Pat No. 7,191,597 Issued March 20, 2007	  	BSE
					
	 109
	  	31 May 05	  	Hybrid generation with alternative fuel sources	  	US Pat No. 7,331,178 Issued February 19, 2008	  	BSE
					
	 105
	  	11 May 07	  	High temperature solar receiver	  	US Pat No. 7,690,377 Issued April 6, 2010	  	BSE
					
	 202
	  	22 Nov 06	  	Hybrid generation with alternative fuel sources	  	US Pat No. 7,845,172 Issued December 7, 2010	  	BrightSource Energy, Inc. (“BSE”)

  
 SCHEDULE 5.2-9

 Attachment II 

Trademarks 
  

																	
	 Mark
	  	 Country
	  	App No	  	App Date	  	Reg No	  	Reg
Date	  	Classes	  	 Record Owner
	  	 Status

	 BRIGHT
 SOURCE
	  	United States of America	  	77/356,210	  	12/19/2007	  		  		  	06,07,09,
 11,37,42
	  	BrightSource Energy, Inc. (“BSE”)	  	 Allowed 2/23/2010
  

Statement of Use/2nd Extension due 2/23/2011

									
	 BRIGHT
 SOURCE
	  	European Community Trade Mark Office (OHIM)	  	7005598	  	6/19/2008	  	7005598	  	6/19/2008	  	07,09,11,
 37,40,42
	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 BRIGHT
 SOURCE
	  	Israel	  	212177	  	6/19/2008	  	212177	  	6/19/2008	  	09	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 BRIGHT
 SOURCE
	  	Israel	  	212179	  	6/19/2008	  	212179	  	6/19/2008	  	37	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	 BRIGHT
 SOURCE
	  	Israel	  	212182	  	6/19/2008	  	212182	  	6/19/2008	  	42	  	BSE	  	 Registered
  
 Renewal due 6/19/2018

									
	LUZ	  	United States of America	  	78/895,368	  	5/30/2006	  		  		  	09,11,40	  	BSE	  	 Allowed 12/11/2007
 Statement
of Use FINAL due 12/11/2010

									
	LUZ	  	United States of America	  	85/190,577	  	12/3/2010	  		  		  	09	  	BSE	  	 Filed
 Foreign filing deadline
6/3/2010

									
	LUZ	  	United States of America	  	85/190,583	  	12/3/2010	  		  		  	11	  	BSE	  	 Filed
 Foreign filing deadline
6/3/2010

									
	LUZ	  	Israel	  	218021	  	12/24/2008	  		  		  	09	  	BSE	  	Allowed
									
	LUZ	  	Israel	  	218020	  	12/24/2008	  		  		  	11	  	BSE	  	Allowed

  
 SCHEDULE
5.2-10 

 DOMAINS 

 

									
	 Domain Name
	  	 Registrant
	  	 Registrar
	  	 Creation
Date
	  	 Expiration/
Renewal

	 brightsourceenerg

y.com
	  	Bright Source Energy 1999 Harrison Street Oakland, CA 94612 United States	  	 Administrative Contact:

Ben Baruch, Shimi
 Bright Source
Energy
 Kiryat Mada St. 11, Amot Bldg #6

P.O. Box 45220, Har Hotzvim
 Jerusalem,
91450
 Israel
 Ph
+972.772025133
 Fax +972.153526514133
 Email: sbenbaruch@BrightSourceEnergy.com
  
 Technical Contact:
 Att: Jackisch, Scott

Bright Source Energy
 1999 Harrison
Street
 Oakland, CA 94612
 United
States
 +1.5105508161
 Email:
scott@globalizenetworks.com
	  	Nov 17, 2006	  	Nov 17, 2014
					
	luz2.com	  	Domains by Proxy, Inc. DomainsByProxy.com 15111 N. Hayden Rd., Ste 160, PMB 353 Scottsdale, AZ 85260 United States	  	 Administrative Contact: 

Private, Registration
 Registered through:
GoDaddy.com, Inc.
 (http://www.godaddy.com)
 Domains by Proxy, Inc.
 DomainsByProxy.com
 15111 N. Hayden Rd.,
 Ste 160, PMB 353
 Scottsdale, AZ 85260
 United States
 Ph (480) 624-2599
 Fax (480) 624-2598
 Email: LUZ2.COM@domainsbyproxy.com
  
 Technical Contact: 
 Private, Registration

Domains by Proxy, Inc.

DomainsByProxy.com
 15111 N. Hayden
Rd.,
 Ste 160, PMB 353
 Scottsdale, AZ
85260
 United States
 Ph (480)
624-2599
 Fax (480) 624-2598
 Email:
LUZ2.COM@domainsbyproxy.com
	  	April 1, 2004	  	April 1, 2015
					
	luz2.net	  	Domains by Proxy, Inc. DomainsByProxy.com 15111 N. Hayden Rd., Ste 160, PMB	  	 Registered through: GoDaddy.com, Inc.
 (http://www.godaddy.com)
 Domain Name: LUZ2.NET

 
 Administrative and Technical Contact:

Private, Registration Domains by Proxy, Inc.
	  	April 1, 2004	  	April 1, 2015

  
 SCHEDULE
5.2-11 

									
					
		  	 353
 Scottsdale, AZ

85260
 United States
	  	 DomainsByProxy.com
 15111 N.
Hayden Rd.,
 Ste 160, PMB 353

Scottsdale, AZ 85260
 United States

Ph (480) 624-2599
 Fax (480) 624-2598

Email: LUZ2.NET@domainsbyproxy.com
  

Technical Contact:
 Private, Registration
Domains by Proxy, Inc.
 DomainsByProxy.com
 15111 N. Hayden Rd., Ste 160, PMB 353
 Scottsdale, AZ 85260

United States
 Ph (480) 624-2599

Fax (480) 624-2598
 Email:
LUZ2.NET@domainsbyproxy.com
	  		  	
					
	luz2.us	  	 LUZ2

8 Rabbenu Politi Jerusalem,

Outside US/Canada 93390

Israel
	  	 Registered through: GoDaddy.com, Inc.
 (http://www.godaddy.com) 
  
 Administrative Contact: 
 Ben Baruch, Shimi

LUZ2
 Kiryat Mada 11

Jerusalem, Outside US/Canada 91450

Israel
 Ph +972.772025133

Email: sbenbaruch@luz2.com 
  

Technical Contact: 
 Tannen, Chaim
Luz2
 Kiryat Mada #11, Amot bldg #6
 PO
Box 44220
 Jerusalem, Outside US/Canada 91450
 Israel
 Ph +972.772025101
 Email: ctannen@luz2.com
	  	April 1, 2004	  	March 31, 2015
					
	luz2.co.il	  	 Arnold J. Goldman
 69 Rehov
HaPalmach
 Jerusalem 92542 Israel
  

Phone:+972 256e988
 Email: sphere@
netvision.net.il
	  	 Administrative and Technical Contact
 Ben Baruch, Shimi
 Luz II
 Kiryat Mada 11
 Jerusalem 91450 Israel

 
 Zone Contact:
 Arnold J. Goldman
 Sphere Ltd
 69 Rehov HaPalmach
 Jerusalem 92542 Israel
 Phone:+972 2 5636988
 Email: sphere@netvision.net.il
	  	April 7, 2004	  	April 7, 2012
					
	bseinc.com	  	BrightSource	  	Registered through: GoDaddy.com, Inc.	  	Feb 11,	  	Feb 11, 2012

  
 SCHEDULE
5.2-12 

									
					
		  	 Energy

1999 Harrison St.
 Suite 500

Oakland, CA
 94612

United States
	  	 (http://www.godaddy.com)

Administrative and Technical Contact:

Stieglitz, Jeff
 BrightSource Energy

1999 Harrison St. Suite 500
 Oakland, CA
94612
 United States

+1.5105508913
 Email:
jstieglitz@brightsourceenergy.com
	  	2008	  	

  
 SCHEDULE
5.2-13 

 SCHEDULE 5.4 TO 
 PLEDGE AND SECURITY AGREEMENT 
 FINANCING STATEMENTS 

 

			
	 Grantor
	  	 Filing Jurisdiction(s)

	BrightSource Energy, Inc.	  	Delaware – Secretary of State
	BrightSource Construction Management, Inc.	  	Delaware – Secretary of State
	Solar Partners I, LLC	  	Delaware – Secretary of State
	Solar Partners II, LLC	  	Delaware – Secretary of State
	Solar Partners VIII, LLC	  	Delaware – Secretary of State

 SCHEDULE 5.5 TO 
 PLEDGE AND SECURITY AGREEMENT 
 LOCATION OF EQUIPMENT AND INVENTORY 

 

							
	 Address
	  	 City
	  	 State
	  	 Zip Code

	1999 Harrison Street Suite 2150	  	Oakland	  	CA	  	94612
				
	800 West Elm St.	  	Coalinga	  	CA	  	93210

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