Document:

EX-4.2

 Exhibit 4.2 

Execution Version 
  

 
  

GSRP PORTFOLIO I LLC 

$500,000,000 
 3.77% Senior Notes
due December 31, 2044 
 Additional Senior Notes 

Subordinate Notes 
  

 

NOTE PURCHASE AGREEMENT 

 
  

Dated January 30, 2020 
  

 
  

 

 TABLE OF
CONTENTS 
  

							
	SECTION	 	HEADING	  	PAGE	 
	 SECTION 1.
	 	 AUTHORIZATION OF NOTES
	  	 	1	 
			
	 Section 1.1
	 	Amount; Establishment of Series	  	 	1	 
	 Section 1.2
	 	The Initial Notes	  	 	2	 
	 Section 1.3
	 	Issuance of Notes	  	 	2	 
	 Section 1.4
	 	Subordinate Notes	  	 	3	 
	 Section 1.5
	 	Priority of Security	  	 	4	 
			
	 SECTION 2.
	 	 SALE AND PURCHASE OF
THE INITIAL NOTES
	  	 	4	 
			
	 SECTION 3.
	 	 CLOSING
	  	 	5	 
			
	 SECTION 4.
	 	 CONDITIONS TO ISSUANCE OF
NOTES
	  	 	5	 
			
	 Section 4.1
	 	Initial Notes	  	 	5	 
	 Section 4.2
	 	Subsequent Notes	  	 	9	 
			
	 SECTION 5.
	 	 REPRESENTATIONS AND WARRANTIES OF
THE OBLIGORS
	  	 	10	 
			
	 Section 5.1
	 	Organization; Power and Authority	  	 	10	 
	 Section 5.2
	 	Authorization, Etc.	  	 	11	 
	 Section 5.3
	 	Disclosure	  	 	11	 
	 Section 5.4
	 	Organization and Ownership of Shares of Subsidiaries	  	 	11	 
	 Section 5.5
	 	Compliance with Laws, Other Instruments, Etc.	  	 	12	 
	 Section 5.6
	 	Approvals, Governmental Authorizations, Etc.	  	 	12	 
	 Section 5.7
	 	Litigation; Observance of Agreements, Statutes and Orders	  	 	13	 
	 Section 5.8
	 	Taxes	  	 	13	 
	 Section 5.9
	 	Title to Property; Leases	  	 	15	 
	 Section 5.10
	 	Licenses, Permits, Etc.	  	 	15	 
	 Section 5.11
	 	Compliance with Employee Benefit Plans	  	 	15	 
	 Section 5.12
	 	Private Offering by the Obligors	  	 	16	 
	 Section 5.13
	 	Use of Proceeds; Margin Regulations	  	 	17	 
	 Section 5.14
	 	Foreign Assets Control Regulations, Etc.	  	 	17	 
	 Section 5.15
	 	No Other Indebtedness	  	 	18	 
	 Section 5.16
	 	Status under Certain Statutes	  	 	18	 
	 Section 5.17
	 	Energy Regulatory	  	 	18	 
	 Section 5.18
	 	Environmental Matters	  	 	19	 
	 Section 5.19
	 	Labor Matters	  	 	19	 
	 Section 5.20
	 	Solvency	  	 	20	 
	 Section 5.21
	 	Nature of Business	  	 	20	 
	 Section 5.22
	 	Perfection and Priority of Lien	  	 	20	 

  
 i 

							
	 Section 5.23
	 	No Default or Event of Default	  	 	20	 
	 Section 5.24
	 	No Events of Loss	  	 	20	 
	 Section 5.25
	 	Insurance	  	 	20	 
	 Section 5.26
	 	Ranking of Obligations	  	 	20	 
	 Section 5.27
	 	Tax Equity Documents	  	 	20	 
	 Section 5.28
	 	No Material Adverse Effect	  	 	21	 
	 Section 5.29
	 	Utilities	  	 	21	 
			
	 SECTION 6.
	 	 REPRESENTATIONS OF THE INITIAL
PURCHASERS
	  	 	21	 
			
	 Section 6.1
	 	Purchase for Investment, Etc.	  	 	21	 
	 Section 6.2
	 	Source of Funds	  	 	22	 
			
	 SECTION 7.
	 	 INFORMATION AS TO COMPANY
	  	 	23	 
			
	 Section 7.1
	 	Financial and Business Information	  	 	23	 
	 Section 7.2
	 	Officer’s Certificate	  	 	26	 
	 Section 7.3
	 	Investor Teleconference	  	 	26	 
	 Section 7.4
	 	Electronic Delivery	  	 	27	 
	 Section 7.5
	 	Information Delivery by the Notes Agent	  	 	27	 
	 Section 7.6
	 	Visitation	  	 	27	 
			
	 SECTION 8.
	 	 PAYMENT AND PREPAYMENT OF
THE NOTES
	  	 	28	 
			
	 Section 8.1
	 	Required Payments; Maturity	  	 	28	 
	 Section 8.2
	 	Mandatory Offers to Prepay	  	 	29	 
	 Section 8.3
	 	Optional Prepayments with Make-Whole Amount	  	 	33	 
	 Section 8.4
	 	Allocation of Repayments and Partial Prepayments	  	 	34	 
	 Section 8.5
	 	Maturity; Surrender, Etc.	  	 	34	 
	 Section 8.6
	 	Purchase of Notes	  	 	35	 
	 Section 8.7
	 	Make-Whole Amount	  	 	35	 
	 Section 8.8
	 	Payments Due on Non-Business Days	  	 	37	 
	 Section 8.9
	 	Withholding	  	 	37	 
			
	 SECTION 9.
	 	 AFFIRMATIVE COVENANTS
	  	 	37	 
			
	 Section 9.1
	 	Compliance with Laws	  	 	37	 
	 Section 9.2
	 	Insurance	  	 	37	 
	 Section 9.3
	 	Maintenance of Properties	  	 	38	 
	 Section 9.4
	 	Payment of Taxes and Claims	  	 	38	 
	 Section 9.5
	 	Corporate Existence, Etc.	  	 	38	 
	 Section 9.6
	 	Books and Records	  	 	39	 
	 Section 9.7
	 	Necessary Project Approvals	  	 	39	 
	 Section 9.8
	 	Performance of Obligations; Tax Equity Buyout Exercises	  	 	39	 
	 Section 9.9
	 	Payment of Notes	  	 	39	 
	 Section 9.10
	 	Maintenance of Title	  	 	39	 
	 Section 9.11
	 	Use of Proceeds	  	 	39	 
	 Section 9.12
	 	Credit Ratings	  	 	40	 

  
 ii 

							
	 Section 9.13
	 	Further Assurances	  	 	40	 
	 Section 9.14
	 	Separateness	  	 	40	 
	 Section 9.15
	 	Preservation of Collateral	  	 	41	 
	 Section 9.16
	 	Subsidiary Distributions	  	 	41	 
	 Section 9.17
	 	Priority of Obligations	  	 	41	 
	 Section 9.18
	 	Existing Debt Payoffs	  	 	41	 
	 Section 9.19
	 	Energy Regulatory Compliance	  	 	41	 
	 Section 9.20
	 	Tax Equity Guarantees	  	 	41	 
			
	 SECTION 10.
	 	 NEGATIVE COVENANTS
	  	 	42	 
			
	 Section 10.1
	 	Transactions with Affiliates	  	 	42	 
	 Section 10.2
	 	Merger, Consolidation, Disposition, Etc.	  	 	42	 
	 Section 10.3
	 	Line of Business	  	 	44	 
	 Section 10.4
	 	Economic Sanctions, Etc.	  	 	44	 
	 Section 10.5
	 	Liens	  	 	44	 
	 Section 10.6
	 	Indebtedness	  	 	47	 
	 Section 10.7
	 	Restricted Payments	  	 	49	 
	 Section 10.8
	 	Investments	  	 	50	 
	 Section 10.9
	 	Capital Expenditures	  	 	51	 
	 Section 10.10
	 	Restrictions on Subsidiary Dividends or Other Distributions	  	 	51	 
	 Section 10.11
	 	Tax Equity Guarantees	  	 	52	 
	 Section 10.12
	 	Tax Credits and Other Tax-Related Matters	  	 	52	 
	 Section 10.13
	 	Organizational Documents	  	 	53	 
	 Section 10.14
	 	Speculative Transactions	  	 	53	 
			
	 SECTION 11.
	 	 EVENTS OF DEFAULT
	  	 	53	 
			
	 SECTION 12.
	 	 REMEDIES ON DEFAULT, ETC.
	  	 	57	 
			
	 Section 12.1
	 	Acceleration	  	 	57	 
	 Section 12.2
	 	Other Remedies	  	 	57	 
	 Section 12.3
	 	Rescission	  	 	58	 
	 Section 12.4
	 	No Waivers or Election of Remedies, Expenses, Etc.	  	 	58	 
	 Section 12.5
	 	Default Rate	  	 	59	 
			
	 SECTION 13.
	 	 GUARANTEE, ETC.
	  	 	59	 
			
	 Section 13.1
	 	Guarantee	  	 	59	 
	 Section 13.2
	 	Obligations Unconditional	  	 	59	 
	 Section 13.3
	 	Instrument for the Payment of Money	  	 	62	 
	 Section 13.4
	 	General Limitation on Guarantee Obligations	  	 	62	 
	 Section 13.5
	 	Discharge of Guaranty Upon Sale of Guarantor	  	 	62	 
	 Section 13.6
	 	Additional Guarantors	  	 	62	 
	 Section 13.7
	 	Subordinate Notes	  	 	63	 

  
 iii 

							
	 SECTION 14.
	 	 REGISTRATION; EXCHANGE; SUBSTITUTION
OF NOTES
	  	 	63	 
			
	 Section 14.1
	 	Registration of Notes	  	 	63	 
	 Section 14.2
	 	Transfer and Exchange of Notes	  	 	63	 
	 Section 14.3
	 	Replacement of Notes	  	 	63	 
			
	 SECTION 15.
	 	 PAYMENTS ON NOTES; APPOINTMENT
OF FIRST LIEN COLLATERAL AGENT
	  	 	64	 
			
	 Section 15.1
	 	Place of Payment	  	 	64	 
	 Section 15.2
	 	Payment by Wire Transfer	  	 	64	 
	 Section 15.3
	 	Tax Information	  	 	65	 
	 Section 15.4
	 	Appointment	  	 	65	 
	 Section 15.5
	 	Incorporation by Reference	  	 	66	 
	 Section 15.6
	 	Appointment of Notes Agent	  	 	66	 
			
	 SECTION 16.
	 	 EXPENSES, ETC.
	  	 	66	 
			
	 Section 16.1
	 	Transaction Expenses	  	 	66	 
	 Section 16.2
	 	Certain Taxes	  	 	67	 
	 Section 16.3
	 	Survival	  	 	67	 
			
	 SECTION 17.
	 	 SURVIVAL OF REPRESENTATIONS AND
WARRANTIES; ENTIRE AGREEMENT
	  	 	68	 
			
	 SECTION 18.
	 	 AMENDMENT AND WAIVER
	  	 	68	 
			
	 Section 18.1
	 	Requirements	  	 	68	 
	 Section 18.2
	 	Solicitation of Holders of Notes	  	 	68	 
	 Section 18.3
	 	Binding Effect, Etc.	  	 	69	 
	 Section 18.4
	 	Notes Held by Company, Etc.	  	 	69	 
			
	 SECTION 19.
	 	 NOTICES
	  	 	69	 
			
	 SECTION 20.
	 	 REPRODUCTION OF DOCUMENTS
	  	 	70	 
			
	 SECTION 21.
	 	 CONFIDENTIAL INFORMATION
	  	 	71	 
			
	 SECTION 22.
	 	 SUBSTITUTION OF PURCHASER
	  	 	72	 
			
	 SECTION 23.
	 	 MISCELLANEOUS
	  	 	73	 
			
	 Section 23.1
	 	Successors and Assigns	  	 	73	 
	 Section 23.2
	 	Accounting Terms	  	 	73	 
	 Section 23.3
	 	Severability	  	 	73	 
	 Section 23.4
	 	Construction, Etc.	  	 	73	 
	 Section 23.5
	 	Counterparts	  	 	74	 
	 Section 23.6
	 	Governing Law	  	 	74	 

  
 iv 

							
	 Section 23.7
	 	Jurisdiction and Process; Waiver of Jury Trial	  	 	74	 
	 Section 23.8
	 	Intercreditor Agreement	  	 	75	 
	 Section 23.9
	 	USA PATRIOT Act	  	 	75	 
	 Section 23.10
	 	Limitations on Recourse	  	 	76	 

  
 v 

							
	 EXHIBITS
	 				 	
			
	 EXHIBIT A
	 	 	—	 	 	 Defined Terms

			
	 EXHIBIT B-1
	 	 	—	 	 	 Form of 3.77% Senior Note due December 31, 2044

			
	 EXHIBIT B-2
	 	 	—	 	 	 Form of Additional Senior Note

			
	 EXHIBIT B-3
	 	 	—	 	 	 Form of Subordinate Note

			
	 EXHIBIT C
	 	 	—	 	 	 Form of Supplemental NPA

			
	 EXHIBIT D
	 	 	—	 	 	 Form of Opinion of Special Counsel for the Obligors

			
	 EXHIBIT E
	 	 	—	 	 	 Form of Insurance Consultant Certificate

			
	 EXHIBIT F
	 	 	—	 	 	 Form of Independent Engineer Certificate

			
	 EXHIBIT G
	 	 	—	 	 	 Form of Market Consultant Certificate

			
	 EXHIBIT H
	 	 	—	 	 	 Form of Operating Statement

			
	 EXHIBIT I
	 	 	—	 	 	 Form of Joinder Agreement

			
	 EXHIBIT J
	 	 	—	 	 	 Form of Subordination Agreement

			
	 EXHIBIT K
	 	 	—	 	 	 Form of Canadian Representation Letter

  

							
	SCHEDULES	 				 	
			
	SCHEDULE 5.4	 	 	—	 	 	 Subsidiaries of the Obligors and Ownership of Subsidiary Stock

			
	SCHEDULE 5.7	 	 	—	 	 	 Litigation

			
	SCHEDULE 5.8	 	 	—	 	 	 Taxes

			
	SCHEDULE 5.15	 	 	—	 	 	 Indebtedness

			
	SCHEDULE 5.17	 	 	—	 	 	 Energy Regulatory Matters

			
	SCHEDULE 5.27	 	 	—	 	 	 Tax Equity Documents

			
	SCHEDULE 10.1	 	 	—	 	 	 Transactions with Affiliates

			
	SCHEDULE 10.5	 	 	—	 	 	 Permitted Liens

			
	SCHEDULE 10.6	 	 	—	 	 	 Permitted Indebtedness

			
	SCHEDULE 10.12	 	 	—	 	 	 Tax Credits and Other Tax-Related Matters

			
	SCHEDULE A-1	 	 	—	 	 	 Knowledge Persons

			
	SCHEDULE A-2	 	 	—	 	 	 Projects

			
	SCHEDULE A-3	 	 	—	 	 	 Certain Power Purchase Agreements

			
	PURCHASER	 	 	—	 	 	 Information Relating to Initial Purchasers

	SCHEDULE	 				 	

  
 vi 

 GSRP PORTFOLIO I LLC 

200 West Street, 3rd Floor 
 New
York, New York 10282 
 3.77% Senior Notes due December 31, 2044 

January 30, 2020 
 TO
EACH OF THE PURCHASERS LISTED IN 
 THE
PURCHASER SCHEDULE HERETO, 
 MUFG UNION BANK, N.A.,
AS FIRST LIEN COLLATERAL AGENT 
 AND MUFG
UNION BANK, N.A., AS NOTES AGENT: 
 Ladies and Gentlemen: 

GSRP Portfolio I LLC, a Delaware limited liability company (the “Company”), each Portfolio Holding Company (together with each
other Person that becomes a party hereto as a guarantor in accordance with Section 13, collectively, the “Guarantors”) and GSRP Portfolio I HoldCo LLC, a Delaware limited liability company (“Holdings”, and
together with the Company and the Guarantors, the “Obligors”), agree with each of the purchasers under the caption “INITIAL PURCHASERS” on the signature pages hereof (each, an “Initial Purchaser” and,
collectively, the “Initial Purchasers”) and each purchaser that executes and delivers a Supplemental NPA as provided in Section 1.3 (each, together with each Initial Purchaser, a “Purchaser” and, collectively with the
Initial Purchasers, the “Purchasers”), MUFG Union Bank, N.A., not in its individual capacity but solely as first lien collateral agent appointed in accordance herewith and the Intercreditor Agreement (together with its successors
and assigns in such capacity, the “First Lien Collateral Agent”) and MUFG Union Bank, N.A., not in its individual capacity but solely as the Notes Agent (as defined herein) appointed in accordance herewith, as follows: 

 

	SECTION	 1. AUTHORIZATION OF NOTES. 

Section 1.1 Amount; Establishment of Series. 

The Company will authorize the issue and sale, subject to the terms and conditions of this Agreement, of up to $500,000,000 aggregate principal
amount of its guaranteed senior secured notes as provided in Section 1.2. In addition, the Company may issue and sell, subject to the terms and conditions of this Agreement, (a) an unlimited aggregate principal amount of additional
guaranteed senior secured notes substantially in the form of Exhibit B-2 as provided in Section 1.3 (the “Additional Senior Notes” and, together with the Initial Notes, the
“Senior Notes”, such terms to include any Senior Notes issued in substitution therefor pursuant to Section 14) and (b) an unlimited aggregate principal amount of subordinated notes substantially in the form of Exhibit B-3 as provided in Section 1.3 (the “Subordinate Notes”, such term to include any Subordinate Notes issued in substitution therefor pursuant to Section 14). The Additional Senior Notes and
Subordinate Notes may be issued in one or more series (each a “Series” of Notes), subject to compliance with the terms and conditions of this Agreement. Certain capitalized and other terms used in this Agreement are defined in
Exhibit A and, for purposes of this Agreement, the rules of construction set forth in Section 23.4 shall govern. 

 Section 1.2 The Initial Notes. 

The Company will authorize, as the initial Series of Senior Notes hereunder, the issue and sale of $500,000,000 aggregate principal amount of
its 3.77% Senior Notes due December 31, 2044 (the “Initial Notes”). The Initial Notes shall be substantially in the form set out in Exhibit B-1, with such changes therefrom, if any, as
may be approved by each Purchaser and the Obligors. 
 Section 1.3 Issuance of Notes. 

Each Series of Notes (other than the Initial Notes) will be issued pursuant to a supplemental note purchase agreement substantially in the
form of Exhibit C (each, a “Supplemental NPA”), and will be subject to the following terms and conditions: 
 (a) the
designation of each Series of Notes shall distinguish the Notes of one Series from the Notes of all other Series; 
 (b) each Supplemental
NPA shall specify whether the Series of Notes issued pursuant thereto shall constitute Additional Senior Notes or Subordinate Notes; 
 (c)
the Notes of each Series of Additional Senior Notes shall rank pari passu in right of payment with the Notes of each other Series of Senior Notes; 

(d) subject to Section 1.3(f), each Series of Additional Senior Notes or Subordinate Notes shall be dated the date of issue, shall bear
interest at such rate or rates, shall mature on such date or dates, if any, as are provided in the Supplemental NPA under which such Additional Senior Notes or Subordinate Notes are issued, may be issued in such denominations, may be subject to
payment of such Make-Whole Amount or premium or without premium, may contain tax indemnification provisions, and provisions for the exchange or transfer of such Additional Senior Notes or Subordinate Notes and may have such additional or different
conditions precedent to closing and such additional or different representations and warranties or other terms and provisions not inconsistent with the provisions of this Agreement as shall be specified in such Supplemental NPA; 

(e) any additional, or more restrictive, covenants, Events of Default, rights or similar provisions (including tax indemnification
provisions) that are added by a Supplemental NPA for the benefit of any Additional Senior Notes to be issued pursuant to such Supplemental NPA shall apply to all outstanding Senior Notes, whether or not the Supplemental NPA so provides, but shall
only apply to all outstanding Subordinate Notes if the applicable Supplemental NPA so provides, and any additional, or more restrictive, covenants, Events of Default, rights or similar provisions that are added by a Supplemental NPA for the benefit
of any Subordinate Notes to be issued pursuant to such Supplemental NPA shall apply to all outstanding Notes, whether or not the Supplemental NPA so provides; 

(f) (i) the Additional Senior Notes shall have a final maturity date not earlier than the Maturity Date of the Initial Notes and a
Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of the Initial Notes, and the Additional Senior Notes shall not be prepayable or redeemable except in connection with any offer to repay or optional
redemption on a pro rata basis with all Senior Notes then outstanding and, where 

  
 2 

 
relevant, the Senior Notes of holders accepting such offer to repay or upon acceleration thereof; (ii) the Subordinate Notes of any Series shall have a final maturity date not earlier than
at least one year after the latest Maturity Date of the Senior Notes then outstanding and a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of the Senior Notes then outstanding; and (iii) the
Subordinate Notes shall not be prepayable or redeemable prior to the repayment in full of all Senior Notes at any time outstanding except that, so long as no Default or Event of Default then exists, the Company shall be permitted to offer to repay
or redeem Subordinate Notes (and complete such offer) in circumstances where (A) the Company has made a mandatory offer to repay or redeem required pursuant to this Agreement or a voluntary offer to repay or redeem to all holders of the Senior
Notes, (B) each such offer made to the holders of Senior Notes specifies the Company’s intention to make an offer to the holders of Subordinate Notes to repay or redeem their Subordinate Notes (such an offer described in clauses
(A) and (B), a “Senior Notes Offer”), (C) the mandatory or voluntary offer to the holders of Subordinate Notes is made subject to the Company completing the repayment or redemption of the Senior Notes to such holders
that accept the Company’s Senior Notes Offer and (D) in the case of a mandatory or voluntary offer to repay or redeem Subordinate Notes where any holders of the Senior Notes have rejected the Company’s Senior Notes Offer, the amount
of such offer to repay or redeem the Subordinate Notes shall be no greater than such amount rejected by the holders of the Senior Notes in the Senior Notes Offer; 

(g) except to the extent provided in clauses (d) or (e) above or as otherwise specified in this Agreement, all of the provisions of this
Agreement shall apply to the Notes of each Series; and 
 (h) the issuance of Additional Senior Notes or any Subordinate Notes shall be
subject to the satisfaction of the conditions set forth in Section 4.2. 
 The Purchasers of the Initial Notes or any Additional Senior
Notes or Subordinate Notes are under no obligation to purchase any subsequent Series of Notes. 
 Upon the issuance of any Additional Senior
Notes or Subordinate Notes, the Company shall, at its expense, provide, or cause to be provided, to each holder the Supplemental NPA entered into in connection with such Notes. 

Section 1.4 Subordinate Notes. 

The Supplemental NPA pursuant to which any Series of Subordinate Notes is issued shall specify whether or not the Subordinate Notes of such
Series will be unsecured or entitled to the benefits of a second priority Lien on the Collateral, subject to Section 1.5. A second lien collateral agent shall be appointed pursuant to any Supplemental NPA in respect of any Series of Subordinate
Notes that will be entitled to a second priority Lien on the Collateral, such second lien collateral agent shall enter into a joinder to the Intercreditor Agreement and such Series of Subordinate Notes shall be subject to the terms of the
Intercreditor Agreement. Any Series of unsecured Subordinate Notes shall be subject, notwithstanding any provision hereof or of any Supplemental NPA to the contrary, to the terms of a subordination agreement substantially in the form of Exhibit J or
any other form of subordination agreement satisfactory to the Required Holders (any such subordination agreement actually entered into, the “Subordination Agreement”). If at any time

  
 3 

 
a Default or an Event of Default has occurred and is continuing, holders of Subordinate Notes shall not be entitled to any vote hereunder, other than in respect of matters related exclusively to
Subordinate Notes, as provided in Section 18, or as expressly provided in the Intercreditor Agreement or Subordination Agreement, as applicable; provided that this restriction on voting will cease to apply once all Senior Notes
outstanding have been repaid in full in cash and cancelled. 
 Section 1.5 Priority of Security. 

(a) Subject to the provisions of this Agreement, all Senior Notes, as soon as issued, shall rank pari passu and be secured equally and
ratably by the Collateral without discrimination or preference with all other Senior Notes as if all of the Senior Notes had been issued simultaneously. Any Series of Subordinate Notes that is entitled to the benefits of the Collateral pursuant to
the terms of the Supplemental NPA for such Series shall be secured by a second priority Lien on the Collateral pursuant to Second Lien Security Documents in accordance with the Intercreditor Agreement. Any Series of Subordinate Notes may rank senior
to, junior to or pari passu with one or more other Series of Subordinate Notes; provided that in all events the Subordinate Notes will be subordinate to the Senior Notes as provided in this Agreement, the Intercreditor Agreement
and any applicable Subordination Agreement. 
 (b) The Collateral is for the equal and ratable benefit and security of all the First Lien
Secured Parties, subject to the terms of the Intercreditor Agreement, without any preference or priority of any Senior Note of any Series over any other Senior Note of any Series. 

(c) The Senior Notes shall rank prior to the Subordinate Notes in respect of any Liens and security interests created by the Security
Documents. The priority of the Senior Notes over the Subordinate Notes shall be effective in all events and in all circumstances and, without limiting the generality of the foregoing, such priority shall be effective notwithstanding the dates of
issue or delivery of any Notes, the dates of any advances evidenced or collaterally secured by any Notes, the dates of enforcement of remedies following an Event of Default pursuant to the terms of this Agreement or any Supplemental NPA or the rules
of priority established under Applicable Law. 
  

	SECTION	 2. SALE AND PURCHASE OF THE INITIAL NOTES. 

Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Initial Purchaser and each Initial Purchaser
will purchase from the Company, at the Closing provided for in Section 3, Initial Notes in the principal amount specified opposite such Initial Purchaser’s name in the Purchaser Schedule at the purchase price of 100% of the principal
amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance of any obligation
by any other Purchaser hereunder. In the case of The Canada Life Assurance Company as an Initial Purchaser, the Company’s obligation to issue and sell the Initial Notes to such Initial Purchaser is subject to the fulfillment to the
Company’s reasonable satisfaction of the further condition that the Company shall have received, at or prior to the Closing, a representation letter from such Initial Purchaser in the form set forth in Exhibit K attached hereto. 

  
 4 

 SECTION3. CLOSING 

Subject to the satisfaction of the conditions set forth in Section 4.1, the sale and purchase of the Initial Notes to be purchased by each
Purchaser shall occur at the offices of Latham & Watkins LLP, 885 3rd Ave, New York, NY 10022, at 10:00 a.m., New York time, at a closing (the “Closing”) on January 30, 2020. At the Closing, the Company will deliver to
each Initial Purchaser the Initial Notes to be purchased by such Initial Purchaser in the form of a single Initial Note (or such greater number of Initial Notes in denominations of at least $500,000 as such Initial Purchaser may request) dated the
date of the Closing and registered in such Initial Purchaser’s name (or in the name of its nominee), against delivery by such Initial Purchaser to the Company or its order of immediately available funds in the amount of the purchase price
therefor by wire transfer of immediately available funds for the account of the Company in accordance with the funding instructions delivered pursuant to Section 4.1(j). If at the Closing the Company shall fail to tender such Initial Notes to
any Initial Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4.1 shall not have been fulfilled to such Initial Purchaser’s satisfaction, such Initial Purchaser shall, at its election, be
relieved of all further obligations under this Agreement, without thereby waiving any rights such Initial Purchaser may have by reason of such failure by the Company to tender such Initial Notes or any of the conditions specified in Section 4.1
not having been fulfilled to such Initial Purchaser’s satisfaction. 
  

	SECTION	 4. CONDITIONS TO ISSUANCE OF NOTES. 

Section 4.1 Initial Notes. 

Each Initial Purchaser’s obligation to purchase and pay for the Initial Notes to be sold to such Initial Purchaser at the Closing is
subject to the fulfillment to such Initial Purchaser’s satisfaction, prior to or at the Closing, of the following conditions: 
 (a)
Representations and Warranties. The representations and warranties of each of the Obligors in this Agreement and each other Note Document to which it is a party shall be true and correct when made and at the Closing. 

(b) No Default. Before and immediately after giving effect to the issue and sale of the Initial Notes (and the application of the
proceeds thereof as contemplated by Section 5.13) and the consummation of the other transactions, including the LC Facility, at the Closing, no Default or Event of Default shall have occurred and be continuing. 

(c) Compliance Certificates. 

(i) The Company shall have delivered to the First Lien Collateral Agent and such Initial Purchaser an Officer’s
Certificate, dated the date of the Closing, certifying, as to the conditions specified in Section 4.1(a), and, to such Authorized Officer’s Knowledge, Section 4.1(b) and each other matter required to be certified by the Company
pursuant to this Section 4.1.     

  
 5 

 (ii) Each Obligor shall have delivered to the First Lien Collateral Agent
and such Initial Purchaser a certificate of an Authorized Officer, dated the date of the Closing, certifying as to (A) the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the
Initial Notes, this Agreement and the other Note Documents to which it is a party, (B) such Obligor’s Organizational Documents as then in effect and (C) the names and signature of the Authorized Officers authorized to sign this
Agreement on behalf of such Obligor and each other Note Document to which it is a party, and other documents to be delivered hereunder. 

(d) Good Standing Certificates. Each Obligor shall have delivered to such Initial Purchaser a certificate as to the good standing of
and payment of franchise Taxes by such Obligor from the Secretary of State of the State of such Obligor’s organization dated as of a recent date. 

(e) Opinion of Counsel. Such Initial Purchaser shall have received opinions in form and substance satisfactory to such Initial
Purchaser, dated as of the date of the Closing, (i) from Skadden, Arps, Slate, Meagher & Flom LLP, special counsel for the Obligors, covering the New York law and Delaware law (with respect to corporate formation, authorization,
execution and delivery and customary UCC security interest) matters set forth on Exhibit D and covering such other New York law matters incident to the transactions contemplated hereby as such Initial Purchaser or its counsel may reasonably request
(and the Company hereby instructs its counsel to deliver such opinion to the Initial Purchasers) and (ii) from Latham & Watkins LLP, special counsel for the Initial Purchasers in connection with such transactions, covering New York law
matters incident to the transactions contemplated hereby and such other matters incident to such transactions as such Initial Purchaser may reasonably request. 

(f) Purchase Permitted By Applicable Law, Etc. On the date of the Closing, such Initial Purchaser’s purchase of Initial Notes
shall (i) be permitted by the laws and regulations of each jurisdiction to which such Initial Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by
insurance companies without restriction as to the character of the particular investment, (ii) not violate any applicable law or regulation (including Regulation T, U or X of the Board of Governors of the Federal Reserve System) and
(iii) not subject such Initial Purchaser to any penalty or liability (other than any Tax liability) under or pursuant to any applicable law or regulation. If requested by such Initial Purchaser, such Initial Purchaser shall have received an
Officer’s Certificate certifying as to such matters of fact as such Initial Purchaser may reasonably specify to enable such Initial Purchaser to determine whether such purchase is so permitted. 

(g) Payment of Fees; Taxes. Without limiting Section 16.1 or any other expense reimbursement obligation under the Note Documents,
the Company shall have paid on or before the Closing (i) the reasonable and documented fees, charges and disbursements of the Placement Agents, the First Lien Collateral Agent, the Notes Agent, the Depositary Bank, consultants to the First Lien
Secured Parties (including the Independent Engineer, the Market Consultant and the Insurance Consultant) and Latham & Watkins LLP, special counsel to the Initial Purchasers and the other First Lien Secured Parties, in each case, to the
extent reflected in a statement of such Person rendered to the Company at least two Business Days prior to the Closing, (ii) all recording, documentary, filing, intangible, stamp or other similar Taxes and other expenses related to such
filings, registrations and recordings necessary for the consummation of the transactions contemplated by this Agreement and the other Note Documents and (iii) all other fees and expenses then due and payable by the Obligors pursuant to the
Financing Documents to the extent reflected in a statement of the applicable payee rendered to the Company at least two Business Days prior to the date of the Closing. 

  
 6 

 (h) Private Placement Number. A Private Placement Number issued by
Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for the Initial Notes. 
 (i)
Sale of Other Notes. Contemporaneously with the Closing the Company shall sell to each Initial Purchaser, and each Initial Purchaser shall purchase, the Initial Notes to be purchased by it at the Closing as specified in the Purchaser
Schedule.     
 (j) Funding Instructions; Funds Flow. At least three Business Days prior to the date of the
Closing, each Initial Purchaser (or its representative) shall have received written instructions signed by an Authorized Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and
address of the transferee bank, (ii) such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Initial Notes is to be deposited. In addition, the Company shall have delivered a funds
flow memorandum to the First Lien Collateral Agent setting forth the use of proceeds of the Initial Notes. 
 (k) Financing
Documents. Such Initial Purchaser and the First Lien Collateral Agent shall have received certified, complete and correct copies of all of the Financing Documents (together with any amendments, supplements, schedules and exhibits thereto), duly
executed and delivered by each Obligor party thereto. 
 (l) LC Facility. The “Closing Date” under and as defined in the
LC Facility Credit Agreement shall have occurred. 
 (m) Depositary Accounts. The Company and the Depositary Bank shall have
established and opened the Depositary Accounts in accordance with the terms of the Depositary Agreement. The Debt Service Reserve Account shall be funded (or the funds flow memorandum delivered pursuant to Section 4.1(j) shall reflect that it
will be funded substantially contemporaneously with the Closing) pursuant to and as required by the Depositary Agreement (including, as applicable, by the issuance of a Letter of Credit). 

(n) Lien Searches. Such Initial Purchaser shall have received reports of searches of bankruptcy and litigation proceedings in respect
of each Obligor for the jurisdiction in which such Obligor is located and of UCC filings and tax liens, in each case reasonably satisfactory to the First Lien Collateral Agent and such Initial Purchaser, in the jurisdiction of formation or
organization, as applicable, of each Obligor, or where a filing has been or would need to be made in order to perfect the First Lien Collateral Agent’s security interest in the Collateral, together with copies of all such filings disclosed by
such searches, and UCC-3 termination statements for filing in all applicable jurisdictions as may be necessary to terminate any effective UCC-1 financing statements or
fixture filings disclosed in such reports (other than any such financing statements or fixture filings in respect of Permitted Liens). 

  
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 (o) Security. 

(i) Valid and perfected first priority security interests (subject only to Permitted Liens) in the Collateral shall have been
created in favor of the First Lien Collateral Agent for the benefit of the First Lien Secured Parties, in each case, in form and substance reasonably satisfactory to such Initial Purchaser, and such Initial Purchaser shall have received evidence of
the filing or registration of all appropriate documents and payment of all related fees and expenses in accordance with Applicable Law necessary for the creation and perfection of the Liens intended to be created by the First Lien Security
Documents, all in form and substance reasonably satisfactory to such Initial Purchaser. 
 (ii) The equity interest
certificates representing the Pledged Collateral referred to in (and as defined in) the First Lien Pledge and Security Agreement accompanied by undated transfer powers executed in blank and instruments evidencing the Pledged Collateral referred to
in (and as defined in) the First Lien Pledge and Security Agreement, indorsed in blank, shall have been delivered to the First Lien Collateral Agent. 

(p) Insurance. Such Initial Purchaser and the First Lien Collateral Agent shall have received (i) evidence (including appropriate
certificates of insurance) reasonably satisfactory to such Initial Purchaser that the insurance required to be obtained and maintained by the Obligors and their Subsidiaries pursuant to the Financing Documents is in full force and effect and
(ii) a report of the Insurance Consultant addressed to, and in form and substance reasonably satisfactory to, the Initial Purchasers, discussing, among other matters, the adequacy of the insurance coverage of the portfolio, together with a
certificate of the Insurance Consultant in the form of Exhibit E appropriately completed. 
 (q) Consultant Reports. The Company
shall have delivered (or caused to be delivered) to each Initial Purchaser: (i) the Independent Engineer Report, together with a certificate of the Independent Engineer in the form of Exhibit F appropriately completed and (ii) the Market
Consultant Report, together with a certificate of the Market Consultant in the form of Exhibit G appropriately completed, in each case, in form and substance reasonably satisfactory to such Initial Purchaser. Each of the Independent Engineer Report
and the Market Consultant Report shall state that (or the aforementioned certificate from the issuer of the applicable report shall state that), subject to the qualifications and assumptions set forth in such report, such Initial Purchaser shall be
entitled to rely on such report. 
 (r) Base Case Projections. Such Initial Purchaser shall have received the base case financial
model (the “Base Case Projections”), in form and substance reasonably satisfactory to such Initial Purchaser (in consultation with the Independent Engineer), certified, as of the date of the Closing, by an Authorized Officer as to
the reasonableness of the underlying assumptions based thereon. 
 (s) Credit Rating on Initial Notes. Such Initial Purchaser shall
have received a copy of a letter issued by the Applicable Rating Agency assigning at least a “BBB” Credit Rating (or the equivalent) in respect of the Initial Notes. 

  
 8 

 (t) Litigation. There shall be no pending or, to the Company’s Knowledge,
threatened action, suit or proceeding of or before any Governmental Authority that relates to (i) the Company, any other Obligor, any Subsidiary of any Obligor or any Project or (ii) to any transaction contemplated by any of the Note
Documents, except, in each case, as set forth on Schedule 5.7 or that would not otherwise, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.     

(u) KYC and USA PATRIOT Act. To the extent requested by the Initial Purchasers at least 10 Business Days prior to the date of the
Closing, such Initial Purchasers shall have received all documentation and other information with respect to the Obligors and their Subsidiaries required to allow such Initial Purchaser to comply with Applicable Law and related internal procedures
relating to “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, which are applicable to the Initial Purchasers. 

(v) Solvency Certificate. The Company shall have delivered to such Initial Purchaser certificates from an Authorized Officer
certifying that, immediately after giving effect to the transactions contemplated hereunder, the Company and its Subsidiaries, on a consolidated basis, are Solvent.     

(w) No Material Adverse Effect. Since June 30, 2019, there has been no Material Adverse Effect. 

Section 4.2 Subsequent Notes. 

The issuance and sale by the Company of any Series of Additional Senior Notes or Subordinate Notes from time to time is subject to the
satisfaction, prior to or on the date of issuance thereof, of the conditions precedent set forth below: 
 (a) Representations and
Warranties. The representations and warranties of each of the Obligors in this Agreement and each other Note Document to which it is a party shall be true and correct as of the date of such issuance and sale (except for representations and
warranties which are as of a specific date, which shall be true and correct in all material respects as of such date); provided that, so long as no Default or Event of Default has occurred and is continuing, the Company shall be permitted to deliver
updated schedules to the Purchasers as of such date of issuance and such updated schedules shall qualify the representations and warranties of each of the Obligors in this Agreement for purposes of this Section 4.2(a). 

(b) Execution and Delivery of Notes. Such Additional Senior Notes or Subordinate Notes shall have been duly executed and delivered by
the Company to each Purchaser of such Series of Notes. 
 (c) Supplemental NPA. A Supplemental NPA pursuant to which such Series of
Notes is to be issued shall have been duly executed by the Company and each Purchaser of such Series of Notes. 

  
 9 

 (d) Debt Service Reserve Account. The Debt Service Reserve Account shall be funded
to its then required level (taking into consideration the issuance of the Additional Senior Notes) pursuant to and as required by the Depositary Agreement (including, as applicable, by the issuance of a DSR Letter of Credit (as defined in the
Depositary Agreement)). If applicable, each of the Supplemental Reserve Account and the Buyout Reserve Account shall be funded to its then required level (taking into consideration the issuance of the Additional Senior Notes) pursuant to and as
required by the Depositary Agreement (including, as applicable, by the issuance of a Supplemental Reserve Letter of Credit or a Buyout Reserve Letter of Credit (as each such term is defined in the Depositary Agreement)). 

(e) Rating Condition. As of the date that the Additional Senior Notes or Subordinate Notes are issued, and immediately after giving
effect thereto, the Rating Condition shall be satisfied. 
 (f) Debt Service Coverage Ratio. The (i) projected average Debt
Service Coverage Ratio through the Maturity Date shall be greater than or equal to 1.7:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be greater than or equal to 1.4:1.0 and
(ii) to the extent such Series of Notes are unsecured or secured on a second lien basis, the projected average Debt Service Coverage Ratio (calculated as though Debt Service were defined to include all Indebtedness of the Company for borrowed
money that is unsecured or secured on a first priority basis or second priority basis) through the Maturity Date shall be greater than or equal to 1.2:1.0. 

(g) No Default. Before and after giving effect to the issue and sale of such Additional Senior Notes or Subordinate Notes, no Default
or Event of Default shall have occurred and be continuing. 
 (h) Intercreditor or Subordination Agreement. With respect to any
Subordinate Notes, (i) if such Subordinate Notes are secured by a second Lien on the Collateral, a second lien collateral agent appointed pursuant to the applicable Supplemental NPA shall have executed and delivered to the First Lien Collateral
Agent a joinder to the Intercreditor Agreement or (ii) if such Subordinate Notes are unsecured, a note holder representative appointed pursuant to the applicable Supplemental NPA shall have executed and delivered to the First Lien Collateral
Agent a Subordination Agreement. 
  

	SECTION	 5. REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS. 

Each of the Obligors represents and warrants to each Initial Purchaser, as to such Obligor (and, as applicable, its Subsidiaries) as of the
date of the Closing, that: 
 Section 5.1 Organization; Power and Authority. Such Obligor and each Project Company is duly
formed, validly existing and in good standing under the laws of the jurisdiction of its organization (except as would not be material to the interests of the holders of the Notes), and is duly qualified and in good standing in each jurisdiction in
which such qualification is required by law, in each case other than those jurisdictions as to which the failure to be duly qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. Such Obligor has the power and authority to execute and deliver this Agreement, the Notes and the other Financing Documents to which it is a party and to perform the provisions hereof and thereof and to create the Liens intended to be
created by the Security Documents. Such Obligor and each Subsidiary thereof has the power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to
transact, except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 Section 5.2 Authorization, Etc. Each of the Note Documents to which such Obligor
is a party has been duly authorized by all necessary corporate or other organizational action on the part of such Person, and upon execution and delivery thereof, each Note Document will constitute, a legal, valid and binding obligation of such
Obligor enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors’ rights generally and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

Section 5.3 Disclosure. The Company, through the Placement Agents, has delivered to each Purchaser a copy of an Amended and
Restated Private Placement Memorandum, dated December 2019 and the Risk Considerations dated December 2019, (collectively, the “Memorandum”), relating to the transactions contemplated hereby. The Memorandum fairly describes, in all
material respects, the general nature of the business and principal properties of the Obligors and their respective Subsidiaries. The information contained in this Agreement, the Memorandum and each other Note Document (in each case, other than
projections, forward looking information, information of a general industry nature and any report delivered by a third party consultant) delivered to the Purchasers by or on behalf of the Company for use in connection with the transactions
contemplated hereby, taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements contained herein or therein (taken as a whole) not misleading in light of the
circumstances under which they were made. Except as set forth in the Memorandum, this Agreement and the other Note Documents, since June 30, 2019, there has been no change in the financial condition, operations, business, properties or
prospects of the Company or any Subsidiary except changes that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Base Case Projections for the period from the date of the Closing through
December 31, 2044, which are excluded from the information covered by the immediately preceding sentence, have been prepared in good faith using assumptions believed by the Company to be reasonable at the time made with no assurances as to
actual outcome which may deviate materially from such forecast and projections. 
 Section 5.4 Organization and Ownership of Shares
of Subsidiaries. 
 (a) Schedule 5.4 contains (except as noted therein and except for inaccuracies that are not material) complete and
correct lists of the Company’s Subsidiaries as of the date of the Closing, showing, as to each Subsidiary, the name thereof, the jurisdiction of its organization, the percentage of shares of each class of its capital stock or similar Equity
Interests outstanding owned by the Company and each other Subsidiary and whether such Subsidiary is a Guarantor. As of the date hereof, the Company neither directly nor indirectly holds any Equity Interests in any Person other than as set forth on
Schedule 5.4 or as would not be material to the interests of the holders of the Notes. 

  
 11 

 (b) All of the outstanding shares of capital stock or similar Equity Interests of such
Obligor and each Subsidiary that is shown in Schedule 5.4 as being owned by the Company and its Subsidiaries have been validly issued and are owned by the Company or another Subsidiary as of the date of the Closing free and clear of any Lien other
than Permitted Liens, except as would not be material to the interests of the holders of the Notes. 
 (c) No Subsidiary of the Company is
subject to any legal, regulatory, contractual or other restriction (other than any restrictions included in the Tax Equity Documents or the agreements listed on Schedule 5.4 or customary limitations imposed by corporate law or similar statutes)
restricting the ability of such Subsidiary to pay dividends out of profits or make any other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock or similar Equity Interests of such
Subsidiary except, with respect to any Non-Obligor Subsidiary, as would not be reasonably be expected to be Material. 

(d) All of the outstanding shares of capital stock or similar Equity Interests of the Company have been validly issued and are owned by
Holdings free and clear of any Lien other than Permitted Liens. 
 Section 5.5 Compliance with Laws, Other Instruments, Etc. The
execution, delivery and performance by such Obligor of this Agreement and the other Note Documents to which it is a party and the transactions contemplated hereunder or thereunder will not (a) contravene, result in any breach of, or constitute
a default under, or result in the creation of any Lien (other than Liens created pursuant to the Security Documents) in respect of any property of such Obligor or any of its Subsidiaries under, any indenture, mortgage, deed of trust, loan, purchase
or credit agreement, lease, Project Document, Tax Equity Document or any other agreement or instrument to which such Obligor or any of its Subsidiaries is bound or by which such Obligor or any of its Subsidiaries or any of their respective
properties may be bound or affected, except to the extent such contravention, breach, default or Lien would not reasonably be expected to have a Material Adverse Effect, (b) conflict with or result in a breach of any of the terms, conditions or
provisions of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority applicable to such Obligor or any of its Subsidiaries, except to the extent such conflict or breach would not reasonably be expected to have a
Material Adverse Effect, (c) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to such Obligor or any of its Subsidiaries, except to the extent such violation would not reasonably be
expected to have a Material Adverse Effect, or (d) violate any provision of the Organizational Documents of such Obligor.     

Section 5.6 Approvals, Governmental Authorizations, Etc. No consent, approval or authorization of, or registration, filing or
declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Obligor of this Agreement or the other Financing Documents, except for those that have already been obtained or filed and
filings and recordings with respect to the Collateral to be made or otherwise delivered to the First Lien Collateral Agent for filing and/or recordation or to the extent the failure to have obtained the same on or prior to the date of the Closing
would not reasonably be expected to have a Material Adverse Effect. All material Governmental Authorizations, which under Applicable Laws are required to have been obtained by such Obligor or any Subsidiary thereof in connection with the ownership
and operation of the Projects (all of the foregoing, the “Necessary Project 

  
 12 

 
Approvals”), have been obtained, are in full force and effect, are properly in the name of the appropriate Person and are final, and all appeal periods with respect thereto have
expired or terminated, except for any such Governmental Authorizations that are reasonably expected to be obtained in the ordinary course when required or to the extent the failure to have obtained the same on or prior to the date of the Closing
would not reasonably be expected to have a Material Adverse Effect. Such Obligor or its applicable Subsidiaries have performed or complied with all agreements and conditions contained in each Necessary Project Approval and all agreements and
conditions contained in any agreements or documents referred to therein in each case to the extent required to be performed or complied with by it on or before the date of the Closing, and, subject to the foregoing, neither the Company nor any of
its applicable Subsidiaries is in default in the performance of or compliance with any of the material terms or provisions of any Necessary Project Approval, except, in each case, to the extent such noncompliance or default would not reasonably be
expected to have a Material Adverse Effect.     
 Section 5.7 Litigation; Observance of Agreements, Statutes
and Orders. 
 (a) There are no actions, suits, investigations or proceedings pending or, to the Knowledge of such Obligor, threatened
in writing against or affecting such Obligor, any Subsidiary of such Obligor or any property of such Obligor or any such Subsidiary (including the Projects) in any court or before any arbitrator of any kind or before or by any Governmental
Authority, except as set forth on Schedule 5.7 or as would not otherwise, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Neither such Obligor nor any Subsidiary thereof is (i) in default under any agreement or instrument to which it is a party or by
which it is bound, (ii) in violation of any applicable law, ordinance, rule or regulation of any Governmental Authority (including Environmental Laws, or any of the other laws and regulations that are referred to in Section 5.18), or
(iii) in violation of any order, judgment, decree or ruling of any court, any arbitrator of any kind or any Governmental Authority, in each case of clauses (i), (ii) and (iii), which default or violation would, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. 
 Section 5.8 Taxes. 

(a) To the Knowledge of such Obligor during the applicable Pre-Ownership Period and without regard to
the Knowledge of such Obligor thereafter, such Obligor and its Subsidiaries have, filed all income Tax Returns and other material Tax Returns that are required to have been filed by them in any jurisdiction, and have paid all Taxes shown to be due
and payable on such Tax Returns and all other Taxes and assessments levied or assessed on them or on or with respect to their properties, assets, income or franchises, to the extent such Taxes and assessments have become due and payable and before
they have become delinquent, except for any Tax Returns, Taxes and assessments (i) the non-filing or non-payment of which would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect or (ii) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which (x) the applicable
Obligor or Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP, and (y) there is no material risk of seizure of any material property or asset of the applicable Obligor or Subsidiary. The charges, accruals
and reserves on the books of such Obligor and its Subsidiaries in respect of 

  
 13 

 
U.S. federal, state or other Taxes for all fiscal periods are in all material respects adequate. Except as set forth on Schedule 5.8 or as would not be material to the interests of the holders of
the Notes, no audits, claims, assessments, levies, or administrative or judicial proceedings, or investigations presently are ongoing or pending against such Obligor or any of its Subsidiaries regarding material Taxes of such Obligor or any of its
Subsidiaries or with respect to the assets of such Obligor or any of its Subsidiaries. 
 (b) Except as set forth on Schedule 5.8 or as
would not reasonably be expected to be material, to the Knowledge of such Obligor during the applicable Pre-Ownership Period and without regard to the Knowledge of such Obligor thereafter, the Company and each
Subsidiary of the Company is, and has at all times since its formation been, properly treated as an entity that is disregarded as separate from its owner or as a partnership (that is not a “publicly traded partnership” as defined in Code
Section 7704(b)) for U.S. federal tax purposes (and any similar or corresponding state or local tax purposes). Except as set forth on Schedule 5.8 or as would not reasonably be expected to be material, to the Knowledge of such Obligor during
the applicable Pre-Ownership Period and without regard to the Knowledge of such Obligor thereafter, none of the Company or any of its Subsidiaries has taken, or to the extent within the control of the Company
or any of its Subsidiaries, has permitted any Person to take, any action that would reasonably be expected to result in the Company or any of its Subsidiaries being treated as a corporation, or an association taxable as a corporation, for U.S.
federal tax purposes (or any similar or corresponding state or local tax purposes). Except as would not reasonably be expected to be material, neither such Obligor nor any Subsidiary has made an election under Section 1101(g)(4) of the
Bipartisan Budget Act, or any subsequent law or guidance (including pursuant to Treasury Regulations Section 301.9100-22T) to have the provisions of Section 1101 of the Bipartisan Budget Act apply to
any partnership income Tax Returns of such Obligor or any Subsidiary thereof filed for any taxable year thereof beginning before January 1, 2018. Neither such Obligor nor any Subsidiary thereof is party to any tax sharing agreement with any
Person or any other agreement pursuant to which it is liable for the material Taxes of another Person (including with any Affiliate of such Obligor or any Subsidiary thereof) other than in connection with the Tax Equity Documents or customary
provisions contained in any agreements entered into in the ordinary course of business and not primarily related to Taxes. Neither such Obligor nor any Subsidiary thereof has any outstanding liability for any payment of amounts with respect to
material Taxes of any other Person (other than another Obligor or Subsidiary thereof) as a result of being a member of an Affiliated, consolidated, combined or unitary group, or as a result of succeeding to such liability as a result of merger,
conversion or asset acquisition, which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) Neither such Obligor nor any of its Subsidiaries is a Tax-Exempt Person (other than as a result
of the status or ownership of any Tax Equity Investor). Except as set forth on Schedule 5.8 or as would not reasonably be expected to be material, no Person has applied for, claimed or received a grant under Section 1603 of Division B of the
American Recovery and Reinvestment Act of 2009, as amended, with respect any Project or any property that is part of a Project. To the Knowledge of such Obligor during the applicable Pre-Ownership Period and
without regard to the Knowledge of such Obligor thereafter, (i) no material default, inaccuracy, breach, failure, determination, event, loss or other circumstance has occurred in connection with any representation, warranty, certification,
covenant, agreement or obligation by such Obligor or any of its Subsidiaries under any Tax Equity Document and (ii) no event, action, 

  
 14 

 
inaction or other circumstance has otherwise occurred which, in the case of either (i) or (ii), could reasonably be expected to result in (x) any reduction in the amount of, or any
preclusion of the availability of, any Tax credit or other Tax benefit otherwise available, or reasonably expected to be available, with respect to any Project subject to a Tax Equity Document or (y) any recapture, disallowance, reduction,
delay or loss of any Tax credit or other Tax benefit claimed with respect to any Project subject to a Tax Equity Document and, in the case of either (x) or (y), which would individually or in the aggregate reasonably be expected to have a
Material Adverse Effect. 
 Section 5.9 Title to Property; Leases. Such Obligor and its Subsidiaries have good and valid title
to, or leasehold interest in, their respective real and personal properties (including the Collateral and all Projects), in each case free and clear of Liens, other than Permitted Liens, except, with respect to any
Non-Obligor Subsidiary, as would not reasonably be expected to have a Material Adverse Effect.     

Section 5.10 Licenses, Permits, Etc. 

(a) Such Obligor and its Subsidiaries own or possess all intellectual property licenses, permits, franchises, authorizations, patents,
copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, without known conflict with the rights of others, except for any such failure to own or possess or any conflict as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) To the Knowledge of such Obligor, no product or service of such
Obligor or any Subsidiary thereof infringes any intellectual property license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right owned by any other Person, except for any
such infringement as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (c) To the
Knowledge of such Obligor, there is no violation by any Person of any right of such Obligor or any Subsidiary thereof with respect to any intellectual property license, permit, franchise, authorization, patent, copyright, proprietary software,
service mark, trademark, trade name or other right owned or used by such Obligor or any Subsidiary thereof, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.11 Compliance with Employee Benefit Plans. 

(a) Such Obligor and each ERISA Affiliate have operated and administered each Plan in compliance with all Applicable Laws except for such
instances of noncompliance as have not resulted in and would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Neither such Obligor nor any ERISA Affiliate has incurred any liability pursuant to
Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that would, individually or in the
aggregate, reasonably be expected to result in the incurrence of any such liability by such Obligor or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of such Obligor or any ERISA Affiliate, in either
case pursuant to Title I or IV of ERISA or to section 

  
 15 

 
430(k) of the Code or to any such penalty or excise tax provisions under the Code or federal law or section 4068 of ERISA or by the granting of a security interest in connection with the
amendment of a Plan, other than such liabilities or Liens as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

(b) The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as of the end
of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of such
Plan allocable to such benefit liabilities, except as would not reasonably be expected to have a Material Adverse Effect. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms
“current value” and “present value” have the meaning specified in section 3 of ERISA. 
 (c) Such Obligor
and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate would reasonably
be expected to have a Material Adverse Effect. 
 (d) The expected postretirement benefit obligation (determined as of the last day of the
Company’s most recently ended fiscal year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities attributable to continuation
coverage mandated by section 4980B of the Code) of such Obligor and its Subsidiaries is not Material. 
 (e) The execution and delivery of
this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of
the Code. The representation by the Company to each Initial Purchaser in the first sentence of this Section 5.11(e) is made in reliance upon and subject to the accuracy of such Initial Purchaser’s representation in Section 6.2 as to
the sources of the funds to be used to pay the purchase price of the Notes to be purchased by such Initial Purchaser. 
 (f) Such Obligor
and its Subsidiaries do not have any Non-U.S. Plans. 
 Section 5.12 Private Offering by the
Obligors. Neither such Obligor nor anyone acting on its behalf (other than the Placement Agents) has offered the Initial Notes or any similar Securities for sale to, or solicited any offer to buy the Initial Notes or any similar Securities from,
or otherwise approached or negotiated in respect thereof with, any Person other than the Initial Purchasers and not more than 45 other Persons that are both (a) an “accredited investor” within the meaning of Regulation D under the
Securities Act and (b) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, each of which has been offered the Initial Notes at a private sale for investment. Neither such Obligor nor anyone
acting on its behalf (other than the Placement Agents) has (i) solicited offers for, or offered or sold, the Notes by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any
manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act or (ii) otherwise taken, or will take, any action that would subject the issuance or sale of the Initial Notes to the registration requirements
of section 5 of the Securities Act or to the registration requirements of any Securities or blue sky laws of any applicable jurisdiction. 

  
 16 

 Section 5.13 Use of Proceeds; Margin Regulations. The Company will apply the
proceeds of the sale of the Initial Notes hereunder as set forth in the funds flow memorandum delivered pursuant to Section 4.1(j) and in accordance with Section 9.11. No part of the proceeds from the sale of the Initial Notes hereunder
will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading
in any Securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220), assuming no holder is a
“creditor” within the meaning of Regulation T. Margin stock does not constitute more than 25% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock
will constitute more than 25% of the value of such assets. As used in this Section 5.13, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation
U. 
 Section 5.14 Foreign Assets Control Regulations, Etc. 

(a) Neither Holdings nor any Controlled Entity (i) is a Blocked Person, (ii) has been notified that its name appears or may in the
future appear on a State Sanctions List or (iii) is a target of Economic Sanctions Laws. 
 (b) Within the past five years, neither
Holdings nor any Controlled Entity (including their respective officers, directors, employees and, to the knowledge of the foregoing, agents acting on their behalf) has violated in any material respect, been found in violation of or been charged or
convicted under any applicable Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws. 
 (c) No part of the proceeds
from the sale of the Notes hereunder: 
 (i) constitutes or will constitute funds obtained on behalf of any Blocked Person
or will otherwise be used by Holdings or any of its Controlled Entities, directly or knowingly indirectly (A) with any investment in, or any transactions or dealings with, any Blocked Person in violation of applicable Economic Sanctions Laws,
(B) for any purpose that would cause any Purchaser to be in violation of any Economic Sanctions Laws or (C) otherwise in violation of any Economic Sanctions Laws; 

(ii) will be used, directly or knowingly indirectly, by Holdings or any of its Controlled Entities in violation of, or cause
any Purchaser to be in violation of, any applicable Anti-Money Laundering Laws; or 
 (iii) will be used, directly or
knowingly indirectly, by Holdings or any of its Controlled Entities (including their respective officers, directors, employees and agents acting on their behalf) for the purpose of making any improper payments, including bribes, to any Governmental
Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage, in each case which would be in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Corruption Laws. 

  
 17 

 (d) The Company has established procedures and controls which it reasonably believes are
adequate (and otherwise comply with Applicable Law) to ensure that Holdings and each of its Controlled Entities is and will continue to be in compliance with all applicable Economic Sanctions Laws, Anti-Money Laundering Laws and Anti-Corruption
Laws. 
 Section 5.15 No Other Indebtedness. As of the date of the Closing, all Indebtedness of the Company and its Subsidiaries
for borrowed money existing immediately prior to the Closing is set forth on Part I of Schedule 5.15, other than Indebtedness in the nature of letters of credit, bonds and other credit support held by Project Company counterparties. As of the date
of the Closing, after the Closing and the application of funds pursuant to the funds flow memorandum delivered pursuant to Section 4.1(j), other than (x) Indebtedness in the nature of letters of credit, bonds and other credit support held
by Project Company counterparties and (y) as set forth on Part II of Schedule 5.15, the Indebtedness outstanding under the Financing Documents and any Indebtedness permitted pursuant to Section 10.6 (other than Indebtedness for borrowed
money) shall be the only outstanding Indebtedness of such Obligor and its Subsidiaries. 
 Section 5.16 Status under Certain
Statutes. Such Obligor is not required to register as an “investment company” pursuant to the Investment Company Act of 1940. 

Section 5.17 Energy Regulatory. 

(a) None of the Secured Parties shall, solely by reason of (i) the ownership, construction, operation and maintenance of the Projects as
contemplated by the Project Documents, (ii) the sale and purchase of the Notes in accordance with this Agreement or the issuance of any Letters of Credit, (iii) the securing of the Secured Obligations by Liens on the Collateral (other than
the exercise of remedies by any Secured Party) or (iv) any other transaction contemplated by this Agreement or any other Note Document, be deemed by any Governmental Authority to be, or to be subject to regulation as, an “electric
utility,” “electrical corporation,” “electrical company,” “public utility” or “public utility holding company” or similar entity under any Applicable Laws of the United States, any state or any political
subdivision of the United States or any state, including PUHCA and the FPA. 
 (b) The applicable Project Company made all necessary
filings with FERC for each Project that meets the criteria of a QF under PURPA as set forth in 18 C.F.R. § 292.204. 
 (c) If a
Project is not exempt from PUHCA under 18 C.F.R. § 292.602, the applicable Project Company made all necessary filings with FERC to be an EWG under PUHCA.     

(d) If not exempt from FPA Sections 204, 205 and Section 206 under 18 C.F.R. § 292.601, the applicable Project Company made all
necessary filings with FERC for such Project Company to have obtained MBR Authority under the FPA and such Project Company retains such MBR Authority, which is not subject to any pending challenge or investigation at 

  
 18 

 
FERC, and FERC has not issued any orders imposing a rate cap, mitigation measure, or other limitation on a Project Company’s authority to engage in sales pursuant to such MBR Authority,
other than challenges, investigations, rate caps and mitigation measures generally applicable to wholesale sellers participating in the applicable electric market(s). 

(e) Such Obligor and its Subsidiaries are either (x) not subject to, or exempt from, regulation under the provisions of 18 C.F.R.
§§ 366.2, 366.21, 366.22 and 366.23, or (y) have obtained waiver from regulation under the provisions of 18 C.F.R. §§ 366.21, 366.22 and 366.23 (the “PUHCA Exemption or Waiver”). 

(f) Except as set forth on Schedule 5.17, neither such Obligor nor any of its Subsidiaries is subject to regulation as a “public
utility”, “electrical corporation”, “public service corporation” or “electric power supplier” or similar entity under relevant state laws or regulations (“State Electric Utility Regulation”). 

(g) Except as set forth on Schedule 5.17, neither such Obligor nor any of its Subsidiaries has Knowledge of (i) any claim, action or
assertion that has been filed, commenced, or threatened against any Project Company alleging any violation of the FPA, or (ii) any investigation with respect to any violation of the FPA that has been commenced against any Project Company,
except, in each case of clauses (i) and (ii), such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.18 Environmental Matters. 

(a) Neither such Obligor nor any of its Subsidiaries has Knowledge of any written claim, and no proceeding has been instituted asserting any
claim against such Obligor or any Subsidiary thereof or any of their respective real properties or other assets now or formerly owned, leased or operated by any of them, alleging any damage to the environment or violation of any Environmental Laws
by a Project, except, in each case, such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.     

(b) Neither such Obligor nor any of its Subsidiaries has Knowledge of any facts which are reasonably likely to give rise to a claim against
the Obligor or any of its Subsidiaries alleging that said Obligor or Subsidiary has violated any Environmental Laws with respect to the construction, ownership or operation of a Project, except, in each case, such as would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (c) Neither the Company nor any Subsidiary has stored any
Hazardous Materials on real properties now or formerly owned, leased or operated by any of them in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect. 
 (d) Neither the Company nor any Subsidiary has disposed of any Hazardous Materials in a manner which is contrary to any
Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

Section 5.19 Labor Matters. Neither such Obligor nor any of its Subsidiaries has any employees as of the date of the Closing. 

  
 19 

 Section 5.20 Solvency. The Obligors, immediately after giving effect to the
incurrence of Indebtedness under the Initial Notes and the transactions contemplated by the Financing Documents, on a consolidated basis are Solvent. 

Section 5.21 Nature of Business. Such Obligor has not engaged in any business or activity other than as permitted under
Section 10.3. The Company has not engaged in any business activity other than the ownership of the Equity Interests of its Subsidiaries and activities incidental thereto. 

Section 5.22 Perfection and Priority of Lien. The provisions of the First Lien Security Documents are effective to create, in
favor of the First Lien Collateral Agent for the benefit of the First Lien Secured Parties, as security for the First Lien Obligations, a legal, valid and enforceable first priority Lien on and security interest in all of the Collateral purported to
be covered by the First Lien Security Documents, and all necessary recordings and filings have been made or will be made on the date of the Closing in all necessary public offices, and all other necessary and appropriate action has been taken, so
that each such First Lien Security Document creates, or upon the filing of such financing statements will create, a perfected first priority Lien on and perfected security interest in all right, title and interest of such Obligor in the Collateral
covered thereby, prior and superior to the rights of all third Persons and subject to no Liens other than Permitted Liens. 

Section 5.23 No Default or Event of Default. After giving effect to the purchase and sale of the Initial Notes and the
consummation of the other transactions, including the LC Facility, occurring on the date of the Closing, no Default or Event of Default has occurred and is continuing. 

Section 5.24 No Events of Loss. No uninsured Event of Loss or Condemnation has occurred in respect of any Project that,
individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
 Section 5.25 Insurance.
Insurance complying in all material respects with the provisions of the Financing Documents is in full force and effect. 

Section 5.26 Ranking of Obligations. This Agreement, the Notes and the other Note Documents, and the obligations of the Company
and such Obligor evidenced hereby and thereby, are and, except in the case of the Subordinate Notes, will at all times be direct and unconditional general obligations of such Obligor party thereto and will at all times rank in right of payment at
least pari passu with all other senior secured Indebtedness of such Obligor, whether now existing or hereafter outstanding. 

Section 5.27 Tax Equity Documents. (a) No Subsidiary of such Obligor and, to such Obligor’s Knowledge, no other party
thereto, is in default in the performance or compliance with any of the terms or provisions of any Tax Equity Document, (b) no waiver is currently in effect with respect to any Tax Equity Document and (c) no breach or event has occurred
and is continuing which, with the notice or the lapse of time or both, would constitute a default by any Subsidiary of such Obligor or, to such Obligor’s Knowledge, any Tax Equity Investor, except, in each case of clauses (a), (b) and (c), (i)
as would not reasonably be expected to have a Material Adverse Effect, (ii) as set forth on Schedule 5.27 or (iii) for any default, inaccuracy, breach, failure, 

  
 20 

 
determination, event, loss or other circumstance described in Section 5.8(c) (which default, inaccuracy, breach, failure, determination, event, loss or other circumstance shall be governed
exclusively by Section 5.8(c)). To such Obligor’s Knowledge, there is no outstanding material indemnity claim by any Tax Equity Investor under any Tax Equity Document. All reserves required to be funded under the Tax Equity Documents as of
the date of the Closing are funded in accordance with the terms thereof, except for any failure to fund such reserves as would not be Material. 

Section 5.28 No Material Adverse Effect. Since June 30, 2019, or, if later, the date of the last annual audited financial
statements delivered pursuant to Section 7.1(b), no event or circumstance has occurred that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

Section 5.29 Utilities. With respect to each Project, all utility services, means of transportation and facilities that are
necessary for the operation of such Project are available, except to the extent such lack of availability would not reasonably be expected to have a Material Adverse Effect. 
  

	SECTION	 6. REPRESENTATIONS OF THE INITIAL PURCHASERS. 

Section 6.1 Purchase for Investment, Etc.     

(a) Each Initial Purchaser severally represents that it is purchasing the Initial Notes for its own account or for one or more separate
accounts maintained by such Initial Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of such Initial Purchaser’s or their property shall at
all times be within such Initial Purchaser’s or their control. Each Initial Purchaser understands that the Initial Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions of the
Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Company is not required to register the Initial Notes. Each Initial
Purchaser further severally represents that such Initial Purchaser (i) will not sell, transfer or otherwise dispose of the Initial Notes or any interest therein except in a transaction exempt from or not subject to the registration requirements
of the Securities Act and (ii) was given the opportunity to ask questions and receive answers concerning the terms and conditions of the offering and to obtain any additional information which the Company possesses or can acquire without
unreasonable effort or expense. 
 (b) Each Initial Purchaser severally represents that it is both (i) an “accredited
investor” within the meaning of Regulation D under the Securities Act and (ii) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act. 

(c) Each Initial Purchaser severally represents that the purchase of Initial Notes by such Initial Purchaser has not been solicited by or
through anyone other than the Company or the Placement Agents. 

  
 21 

 Section 6.2 Source of Funds. Each Initial Purchaser severally represents that at
least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Initial Purchaser to pay the purchase price of the Initial Notes to be purchased by such Initial
Purchaser hereunder: 
 (a) the Source is an “insurance company general account” (as the term is defined in the United States
Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for life insurance companies
approved by the NAIC (the “NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s)
held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed
10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Initial Purchaser’s state of domicile; or 

(b) the Source is a separate account that is maintained solely in connection with such Initial Purchaser’s fixed contractual obligations
under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any
manner by the investment performance of the separate account; or 
 (c) the Source is either (i) an insurance company pooled separate
account, within the meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Initial
Purchaser to the Company in writing pursuant to this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate
account or collective investment fund; or 
 (d) the Source constitutes assets of an “investment fund” (within the meaning of
Part VI of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM Exemption), no
employee benefit plan’s assets that are managed by the QPAM in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part
VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, represent more than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption
are satisfied, neither the QPAM nor a person controlling or controlled by the QPAM maintains an ownership interest in the Obligors that would cause the QPAM and the Company to be “related” within the meaning of Part VI(h) of the QPAM
Exemption and (i) the identity of such QPAM and (ii) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same
employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to the Company in writing
pursuant to this clause (d);or 

  
 22 

 (e) the Source constitutes assets of a “plan(s)” (within the meaning of Part
IV(h) of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part
IV(a) of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Part IV(d)(3)
of the INHAM Exemption) owns a 10% or more interest in the Company and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing
pursuant to this clause (e); or 
 (f) the Source is a governmental plan; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans,
each of which has been identified to the Company in writing pursuant to this clause (g); or 
 (h) the Source does not include assets of
any employee benefit plan, other than a plan exempt from the coverage of ERISA. 
 As used in this Section 6.2, the terms “employee benefit
plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to such terms in section 3 of ERISA. 

SECTION 7. INFORMATION AS TO COMPANY. 

Section 7.1 Financial and Business Information. The Company shall deliver to each holder of a Note that is an Institutional
Investor: 
 (a) Unaudited Statements — within 90 days after the end of each quarterly fiscal period in each fiscal year of the
Company (other than the last quarterly fiscal period of each such fiscal year): 
 (i) an unaudited consolidated balance
sheet of the Company and its Subsidiaries as at the end of such quarter, and 
 (ii) unaudited consolidated statements of
income and members’ equity of the Company and its Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 

setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year (to the extent such
figures are available in respect of such corresponding periods), all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, subject to changes resulting from
year-end adjustments; 
 (b) Annual Audited Statements — within 120 days after the end
of each fiscal year of the Company (commencing with the fiscal year ending 2019): 
 (i) an audited consolidated balance
sheet of the Company and its Subsidiaries as at the end of such year, and 

  
 23 

 (ii) audited consolidated statements of income,members’ equity and
cash flows of the Company and its Subsidiaries for such year (or, in the case of 2019, the applicable portion thereof), 
 in each case,
audited by an independent public accountant of recognized national standing and setting forth in each case in comparative form the figures for the previous fiscal year (to the extent such figures are available in respect of such previous fiscal
year), all in reasonable detail, prepared in accordance with GAAP, and accompanied by a report thereon, which report shall state that such financial statements present fairly, in all material respects, the consolidated financial position of the
companies being reported upon and their results of operations and cash flows and have been prepared in conformity with GAAP, and that the examination of the accountants in connection with such financial statements has been made in accordance with
generally accepted auditing standards, and that such audit provides a reasonable basis for such opinion in the circumstances; 
 (c)
Notices of Litigation or Material Adverse Effect — promptly, and in any event within five Business Days after an Obligor obtains Knowledge of the existence of (i) any action, suit, investigation or proceeding pending or, to the
Knowledge of any Obligor, threatened (in writing), against or affecting such Obligor or any Subsidiary thereof, in each case, that is or would reasonably expected to have a Material Adverse Effect and (ii) any other event, act or condition
which would reasonably be expected to result in a Material Adverse Effect, in each case, a written notice specifying the nature and period of existence thereof and what action such Obligor or such Subsidiary is taking or proposes to take with
respect thereto; 
 (d) Notice of Default or Event of Default — promptly, and in any event within five Business Days after an
Authorized Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed Default hereunder or that any Person has given any notice or taken any action
with respect to a claimed Default of the type referred to in Section 11(g), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; 

(e) Employee Benefits Matters — promptly, and in any event within five Business Days after an Authorized Officer becoming aware
of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto: 

(i) with respect to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder, for
which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; 
 (ii) the taking by
the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA
Affiliate of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such Multiemployer Plan; 

  
 24 

 (iii) any event, transaction or condition that would reasonably be expected
to result in the incurrence of any liability by the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of
the rights, properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing,
could reasonably be expected to have a Material Adverse Effect; or 
 (iv) receipt of notice of the imposition of a Material
financial penalty (which for this purpose shall mean any tax, penalty or other liability, whether by way of indemnity or otherwise) with respect to one or more Non-U.S. Plans; 

(f) Notices from Governmental Authority — promptly, and in any event within 30 days of receipt thereof, copies of any notice to
the Company or any Subsidiary from any Governmental Authority relating to any order, ruling, statute or other law or regulation that could reasonably be expected to have a Material Adverse Effect; 

(g) Resignation or Replacement of Auditors — within 10 days following the date on which the Company’s auditors resign or the
Company definitively elects to change auditors, as the case may be, notification thereof, together with such further information as the Required Holders may request; 

(h) Requested Information — with reasonable promptness, such other data and information relating to any Tax Equity Partnership or
such other data and information relating to the business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries or relating to the ability of the Company to perform its obligations hereunder and
under the other Note Documents, in each case, as from time to time may be reasonably requested by any such holder of a Note; 
 (i)
Operating Statements — concurrently with the delivery of the financial statements referred to in clauses (a) and (b) above, a portfolio-level operating statement in substantially the form attached as Exhibit H, regarding the
operation and performance of the Projects then in operation for the most recent applicable quarter covered thereby and for the elapsed portion of the year ended with the last day of such quarter (the “Operating Statements”); 

(j) Supplemental NPAs — in the event any additional Series of Notes is issued under this Agreement (whether or not an Initial
Purchaser hereunder is a purchaser thereof), promptly, and in any event within 10 Business Days after execution and delivery thereof, a true and complete copy of the Supplemental NPA pursuant to which such Series of Notes was issued and each of the
documents delivered pursuant to Section 4.2(e) in connection with such issuance; 

  
 25 

 (k) Annual Operating Budget — at least thirty (30) days prior to the first
Semi-Annual Payment Date in each calendar year, an Annual Operating Budget; and 
 (l) Debt Service Coverage Ratio Calculations
— (i) with respect to each calculation of a Debt Service Coverage Ratio under any Note Document (including, for the avoidance of doubt, any calculation of a Debt Service Coverage Ratio that is required under the applicable Note Document to be
calculated as though Debt Service were defined to include all Indebtedness of the Company for borrowed money that is unsecured or secured on a first priority basis or second priority basis), an Officer’s Certificate demonstrating such
calculation in reasonable detail and (ii) concurrently with the delivery of the financial statements referred to in clauses (a) and (b) of this Section 7.1, a calculation of the Debt Service Coverage Ratio for the previous Rolling
Period of the Company, together with an Officer’s Certificate demonstrating such calculation in reasonable detail. 

Section 7.2 Officer’s Certificate. Each set of financial statements delivered to a holder of a Note pursuant to
Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of an Authorized Officer (a) certifying (i) that such financial statements fairly present in all material respects the financial condition and results of
operations of the Company and its Subsidiaries, on a consolidated basis, on the dates and for the periods indicated in accordance with GAAP, subject, in the case of unaudited financial statements, to the absence of footnotes and normally recurring year-end adjustments; and (ii) that such Authorized Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, an inquiry, to such Authorized Officer’s
direct reports within the Manager who are reasonably believed to have the relevant information, regarding the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by the
statements then being furnished to the date of the certificate and, to such Authorized Officer’s Knowledge on the basis of such review and inquiry, that such review and inquiry shall not have disclosed the existence during such period of any
condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with
respect thereto, and (b) attaching an updated Schedule 5.4 listing Subsidiaries of the Company (or including a statement that there have been no changes to the foregoing since the date of the Closing or the last certificate delivered pursuant
to this Section 7.2, as applicable). 
 Section 7.3 Investor Teleconference. If requested by the Required Holders within 15
Business Days after delivery of the financial information pursuant to Section 7.1(a), the Company will hold and participate in a quarterly conference call for the holders to discuss the results of operations and other relevant topics. The
Company will hold such conference calls not later than 15 Business Days after receiving such a request from the Required Holders, at a time to be set by the Company during normal business hours. Within 15 Business Days after delivery of the
financial information pursuant to Section 7.1(b), the Company will hold and participate in an annual conference call for the holders to discuss the results of operations and other relevant topics, at a time to be set by the Company during
normal business hours. 

  
 26 

 Section 7.4 Electronic Delivery. Financial statements, opinions of independent
certified public accountants, other information and Officer’s Certificates that are required to be delivered pursuant to Section 7.1(a), Section 7.1(b) and Section 7.2 shall be deemed to have been delivered if the Company
satisfies any of the following requirements with respect thereto: 
 (a) such financial statements satisfying the requirements of
Section 7.1(a) or Section 7.1(b) and related Officer’s Certificate satisfying the requirements of Section 7.2 are delivered to each holder of a Note by e-mail at the e-mail address set forth in such holder’s Purchaser Schedule or as communicated from time to time in a separate writing delivered to the Company; or 

(b) such financial statements satisfying the requirements of Section 7.1(a) or Section 7.1(b) and related Officer’s Certificate(s)
satisfying the requirements of Section 7.2 are posted by or on behalf of the Company on IntraLinks, Box or on any other similar website to which each holder of Notes has free access; 

provided however, that in no case shall such access be conditioned upon any waiver or other agreement or consent (other than confidentiality provisions
consistent with Section 21); provided further, that in the case of clause (b) above, the Company shall have given each holder of a Note prior written notice, which may be by e-mail or
in accordance with Section 19, of such posting or filing in connection with each delivery. 
 Section 7.5 Information Delivery by
the Notes Agent. In furtherance of the requirements of this Section 7, the Company shall deliver the financial statements, Officer’s Certificates and other information required to be delivered by the Company pursuant to Sections 7.1 and 7.2
to the Notes Agent, and upon its receipt of the foregoing, the Notes Agent shall timely deliver such financial statements, Officer’s Certificates and other information to each holder of a Note that is an Institutional Investor in accordance
with this Section 7. 
 Section 7.6 Visitation. 

(a) If no Event of Default then exists, the Company shall permit the representatives of each holder of a Note that is an Institutional
Investor, at the expense of such holder and with the consent of the Company, which consent will not be unreasonably withheld, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s independent
public accountants; provided that such discussions shall be limited to once per calendar year in the aggregate for the First Lien Collateral Agent and the holders of the Notes. The Company shall be permitted to participate in such discussions
and any such discussions shall be subject to any applicable requirements of the Company’s independent public accountants. 
 (b) If an
Event of Default exists, the Company shall permit the representatives of each holder of a Note that is an Institutional Investor, at the expense of the Company, to examine all of the Company’s and its Subsidiaries’ respective books of
account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company
authorizes said accountants to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such times and as often as may be requested, and at such location as is mutually acceptable to the Company and such holder. 

  
 27 

 SECTION 8. PAYMENT AND PREPAYMENT OF THE NOTES. 

Section 8.1 Required Payments; Maturity. 

(a) On June 30, 2020 and on each Semi-Annual Payment Date thereafter to and including the Maturity Date, the Company will pay the
principal amount (or such lesser principal amount as shall then be outstanding) of the Initial Notes in the amounts specified in the table below (as adjusted pursuant to Section 8.4): 

 

					
	 Semi-Annual

Payment Date
	  	Amortization	 

	 6/30/2020
	  	$	11,054,105.17	 
	 12/31/2020
	  	$	16,168,755.37	 
	 6/30/2021
	  	$	12,255,036.62	 
	 12/31/2021
	  	$	16,182,839.92	 
	 6/30/2022
	  	$	12,050,861.49	 
	 12/31/2022
	  	$	15,158,051.94	 
	 6/30/2023
	  	$	10,405,263.85	 
	 12/31/2023
	  	$	11,921,937.36	 
	 6/30/2024
	  	$	9,013,430.48	 
	 12/31/2024
	  	$	10,850,978.11	 
	 6/30/2025
	  	$	9,016,012.44	 
	 12/31/2025
	  	$	9,981,384.61	 
	 6/30/2026
	  	$	8,434,572.43	 
	 12/31/2026
	  	$	9,043,333.43	 
	 6/30/2027
	  	$	8,698,481.58	 
	 12/31/2027
	  	$	8,235,168.44	 
	 6/30/2028
	  	$	9,449,990.23	 
	 12/31/2028
	  	$	7,835,388.48	 
	 6/30/2029
	  	$	8,589,372.88	 
	 12/31/2029
	  	$	7,234,990.18	 
	 6/30/2030
	  	$	9,030,851.45	 
	 12/31/2030
	  	$	8,223,838.64	 
	 6/30/2031
	  	$	10,216,520.22	 
	 12/31/2031
	  	$	9,843,955.38	 
	 6/30/2032
	  	$	10,529,605.74	 
	 12/31/2032
	  	$	9,713,045.94	 
	 6/30/2033
	  	$	8,842,153.79	 
	 12/31/2033
	  	$	9,067,315.63	 
	 6/30/2034
	  	$	7,989,833.22	 
	 12/31/2034
	  	$	7,927,437.51	 

  
 28 

					
	 Semi-Annual

Payment Date
	  	Amortization	 

	 6/30/2035
	  	$	8,280,242.30	 
	 12/31/2035
	  	$	8,063,579.40	 
	 6/30/2036
	  	$	8,707,716.68	 
	 12/31/2036
	  	$	8,773,540.14	 
	 6/30/2037
	  	$	8,398,250.92	 
	 12/31/2037
	  	$	10,527,538.28	 
	 6/30/2038
	  	$	10,052,552.81	 
	 12/31/2038
	  	$	9,965,717.57	 
	 6/30/2039
	  	$	8,217,581.90	 
	 12/31/2039
	  	$	9,202,730.48	 
	 6/30/2040
	  	$	8,957,814.61	 
	 12/31/2040
	  	$	9,685,728.05	 
	 6/30/2041
	  	$	9,582,900.62	 
	 12/31/2041
	  	$	10,864,479.80	 
	 6/30/2042
	  	$	10,731,271.11	 
	 12/31/2042
	  	$	14,432,327.10	 
	 6/30/2043
	  	$	11,374,548.61	 
	 12/31/2043
	  	$	10,990,806.25	 
	 6/30/2044
	  	$	9,526,163.21	 
	 12/31/2044
	  	$	10,699,997.62	 

 (b) Interest on each Note shall be paid in accordance with the terms of the Notes. As provided therein, the
entire unpaid principal balance of each Initial Note and accrued interest thereon shall be due and payable on the Maturity Date. The Maturity Date for any other Series of Notes will be as set forth in the Supplemental NPA pursuant to which such
Notes are issued. 
 Section 8.2 Mandatory Offers to Prepay. 

(a) Required Sales; Terminated PPA Sales; Loss Proceeds. If (i) the Obligors collectively receive any Net Cash
Proceeds from any Required Sales or Terminated PPA Sales, and after giving pro forma effect to such Required Sale(s) or Terminated PPA Sale(s), the projected average Debt Service Coverage Ratio through the Maturity Date would be less than 1.7:1.0 or
the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date would be less than 1.4:1.0, in each case, on account of such Required Sale(s) or Terminated PPA Sale(s) or (ii) the Obligors collectively receive
any Net Cash Proceeds in excess of $15,000,000 during a fiscal year or in excess of $75,000,000 in the aggregate since the date of the Closing in respect of one or more Events of Loss, Termination Events or Condemnations, then, within 15 Business
Days after receipt of such Net Cash Proceeds described in clause (i) or excess Net Cash Proceeds described in clause (ii), the Company shall make an offer to all holders of the 

  
 29 

 
Senior Notes and all holders of any other Permitted Senior Secured Indebtedness that has a substantially similar provision requiring repayment upon the receipt of such Net Cash Proceeds to prepay
the maximum aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness that can be prepaid out of such Net Cash Proceeds or excess Net Cash Proceeds, as applicable (or in the case of clause (i), the minimum
aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness required, after giving pro forma effect to such Required Sale(s) or Terminated PPA Sale(s) and prepayment, to maintain a projected average Debt
Service Coverage Ratio through the Maturity Date greater than or equal to1.7:1.0 and a projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date greater than or equal to 1.4:1.0) at a price in cash equal to 100%
of the principal amount thereof plus accrued and unpaid interest, if any, to but not including the Applicable Prepayment Date; provided that such Net Cash Proceeds (or the applicable portion of such Net Cash Proceeds) shall be excluded from
the requirements of this Section 8.2(a) if (A) (x) in good faith the Company intends to reinvest (or commits to reinvest) all or any portion of such Net Cash Proceeds in assets useful for its business (and the business of its Subsidiaries,
including the Projects), as determined in the Company’s sole discretion, within 365 days following receipt of the applicable proceeds by the Company or any Subsidiary thereof (for the avoidance of doubt, any mandatory offer to prepay the Senior
Notes required pursuant to this Section 8.2(a) shall be made from the Net Cash Proceeds thereof), and the Company so reinvests such Net Cash Proceeds within such period or (y) if the Company enters into a legally binding commitment to
reinvest such Net Cash Proceeds within 365 days following receipt thereof, and the Company so reinvests such Net Cash Proceeds within 180 days following such 365 day period, in each case, in accordance with the Depositary Agreement and (B) in
the case of Net Cash Proceeds described in clause (i), the Rating Condition is satisfied at the time of such reinvestment to the extent that the Net Cash Proceeds to be reinvested exceed $20,000,000 for any individual Required Sale or Terminated PPA
Sale or $50,000,000 in the aggregate for all Required Sales or Terminated PPA Sales. If, following its commitment to reinvest all or any portion of such Net Cash Proceeds in assets useful to its business, the Company is unable to do so, it will
comply with this Section 8.2(a) in respect of any such uninvested proceeds within 15 Business Days after the end of the 365 day or 180 day period described in clause (y) above, as applicable. No Make-Whole Amount or other premium shall be
required to be paid in connection with any prepayment pursuant to this Section 8.2(a). 
 (b) Asset Disposition Payments. If
the Obligors collectively receive Net Cash Proceeds in excess of $30,000,000 in the aggregate from one or more Permitted Asset Sales or any other Disposition of assets as expressly permitted under this Agreement (other than Required Sales,
Terminated PPA Sales or sales or transfers described in clauses (ii) or (v) of Section 10.2(a) and Dispositions described in clauses (ii) through (v), clause (ix) and clause (xi) of Section 10.2(b)), then, within 15
Business Days after receipt of such excess Net Cash Proceeds, the Company shall make an offer to all holders of the Senior Notes and all holders of any other Permitted Senior Secured Indebtedness that has a substantially similar provision requiring
repayment upon the receipt of such Net Cash Proceeds to prepay the maximum aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness that may be prepaid out of such excess Net Cash Proceeds at a price in
cash equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, to but not including the Applicable Prepayment Date; provided that such Net Cash Proceeds (or the applicable portion of such Net Cash Proceeds) up to
$125,000,000 in the aggregate shall be excluded from the requirements of this Section 8.2(b) if (i) (x) in good faith the Company intends to reinvest (or commits to reinvest) 

  
 30 

 
all or any portion of such Net Cash Proceeds in assets useful for its business (and the business of its Subsidiaries, including the Projects), as determined in the Company’s sole discretion,
within 365 days following receipt of the applicable proceeds by the Company or any Subsidiary thereof (for the avoidance of doubt, any mandatory offer to prepay the Senior Notes required pursuant to this Section 8.2(b) shall be made from the
Net Cash Proceeds thereof), and the Company so reinvests such Net Cash Proceeds within such period or (y) if the Company enters into a legally binding commitment to reinvest such Net Cash Proceeds within 365 days following receipt thereof, and
the Company so reinvests such Net Cash Proceeds within 180 days following such 365 day period, in each case, in accordance with the Depositary Agreement and (ii) the Rating Condition is satisfied at the time of such reinvestment to the extent
that the Net Cash Proceeds to be reinvested exceed $20,000,000 for any individual Disposition or $50,000,000 in the aggregate for all Dispositions. If, following its commitment to reinvest all or any portion of such Net Cash Proceeds in assets
useful to its business, the Company is unable to do so, it will comply with this Section 8.2(b) in respect of any such uninvested proceeds within 15 Business Days after the end of the 365 day or 180 day period described in clause
(y) above, as applicable. No Make-Whole Amount or other premium shall be required to be paid in connection with any prepayment pursuant to this Section 8.2(b); provided, however, that once the Company has prepaid a principal amount
of the Senior Notes with Net Cash Proceeds pursuant to this Section 8.2(b) in excess of $125,000,000 in the aggregate, any prepayment by the Company required pursuant to this Section 8.2(b) shall include the Make-Whole Amount determined
for the Applicable Prepayment Date with respect to the applicable principal amount. 
 (c) Distribution Reserve Account Amounts. The
Company shall make an irrevocable offer to prepay the Senior Notes and other Permitted Senior Secured Indebtedness in accordance with Sections 8.2(e) and 8.4 with the amounts, and on the dates, specified, and otherwise in accordance with
Section 3.3(e) of the Depositary Agreement. No Make-Whole Amount or other premium shall be required to be paid in connection with any prepayment pursuant to this Section 8.2(c). 

(d) Change of Control. Upon the occurrence of a Change of Control, the Company shall make to each of the holders of the Senior Notes
an offer to repay the entire principal amount of the Senior Notes at 101% of the outstanding principal amount thereof, together with accrued and unpaid interest thereon, but without any Make-Whole Amount or any other premium or penalty, in the
manner and to the extent specified in Section 8.2(e), and shall advise each such holder of the circumstances giving rise to such Change of Control. 

(e) Notice Requirements for Mandatory Offers to Prepay. In the event that the Company is required to make any offer to prepay the
Senior Notes pursuant to this Section 8.2, the Company will give each holder of Senior Notes and the Notes Agent written notice of such prepayment under this Section 8.2 not less than 10 days (or such shorter period as is required in order
to make such prepayment in accordance with the terms of the Depositary Agreement) and not more than 60 days prior to the date fixed for such prepayment unless the Company and the Required Holders agree to another time period pursuant to
Section 18. Each such notice shall specify (i) such date (the “Applicable Prepayment Date”) fixed for such prepayment (which shall be a Business Day), (ii) that the Company is irrevocably offering to make such prepayment
and fixing the date (the “Initial Section 8.2 Acceptance Deadline Date”) by which each holder must notify the Company in writing if such holder is accepting such prepayment 

  
 31 

 
of Senior Notes (which date shall be five Business Days prior to the Applicable Prepayment Date (or such later date as is required in order to make such prepayment in accordance with the terms of
the Depositary Agreement)), and (iii) the aggregate principal amount of the Senior Notes subject to prepayment on such date (the “Applicable Aggregate Prepayment Amount”), the principal amount of each Senior Note held by such
holder subject to prepayment (determined in accordance with Section 8.4 and subject, in the case of a prepayment made pursuant to this Section 8.2 (and, if applicable, the additional offer for prepayment pursuant to this
Section 8.2(e)), to redetermination in accordance with this Section 8.2(e)), and the interest, premium or Make-Whole Amount, if applicable, to be paid on the prepayment date with respect to such principal amount being prepaid (all in
accordance with the terms of the Depositary Agreement), and shall be accompanied by a certificate of an Authorized Officer, setting forth the details of such computation. If any holder declines, or fails to accept in writing, the initial offer of
prepayment to be made pursuant to Sections 8.2(a), (b), (c) or (d) as of the Initial Section 8.2 Acceptance Deadline Date, such holder shall be deemed to have waived its right to have its Senior Notes prepaid on the Applicable Prepayment
Date under Section 8.2 and the Company shall make an additional irrevocable offer to prepay the Senior Notes to each holder of Senior Notes that accepted such initial offer to prepay, in an aggregate amount equal to the aggregate principal
amount of the Senior Notes initially offered to be prepaid pursuant to Sections 8.2(a), (b), (c) or (d) but declined or not accepted as of the Initial Section 8.2 Acceptance Deadline Date, following which such additional offer each holder
that is a recipient thereof must notify the Company in writing on or prior to the date (the “Additional Section 8.2 Acceptance Deadline Date”) that is three Business Days prior to the Applicable Prepayment Date (or such later
date as is required in order to make such prepayment in accordance with the terms of the Depositary Agreement) if such holder is accepting the additional prepayment of Senior Notes. If any holder declines, or fails to accept in writing, the
additional offer of prepayment made pursuant to the immediately prior sentence as of the Additional Section 8.2 Acceptance Deadline Date, such holder shall be deemed to have waived its right to have its Senior Notes prepaid in the amount set
forth in such additional offer on the Applicable Prepayment Date, without prejudice to any amounts to which such holder may be entitled as a result of its acceptance of the Company’s initial offer to prepay pursuant to this Section 8.2. In
the event a holder of a Senior Note notifies the Company in writing no later than the applicable Initial Section 8.2 Acceptance Deadline Date that such holder is accepting the Company’s initial offer to prepay its Senior Notes in
accordance with this Section 8.2, the Company shall prepay the applicable amount of such holder’s Senior Notes determined in accordance with Section 8.4(a). In the event a holder of a Senior Note notifies the Company in writing no
later than the applicable Additional Section 8.2 Acceptance Deadline Date that such holder is accepting the Company’s additional offer to prepay its Senior Notes in accordance with this Section 8.2(e), the Company shall, in addition
to the amount contemplated by the immediately preceding sentence, prepay the applicable amount of such holder’s Senior Notes determined in accordance with Section 8.4(b). In the event that the aggregate amount of the actual prepayment of
Senior Notes under Section 8.2 plus the actual prepayment of Senior Notes pursuant to the additional irrevocable offer of prepayment pursuant to this Section 8.2(e) is less than the Applicable Aggregate Prepayment Amount, the amount by
which the Applicable Aggregate Prepayment Amount exceeds such aggregate amount of such actual prepayment shall be applied first to repay Indebtedness as required pursuant to the LC Facility Credit Agreement, including the payment of any
reimbursement obligations under any letter of credit loans then outstanding under the LC Facility, and any applicable Additional Permitted Senior Secured Indebtedness Documents (as defined in the Intercreditor Agreement) and then transferred to the
Distribution Reserve Account in accordance with the Depositary Agreement (or, to the extent already on deposit in and credited to the Distribution Reserve Account, shall remain in the Distribution Reserve Account). 

  
 32 

 (f) Excess Net Cash Proceeds After Prepayment. To the extent that the aggregate
amount of Senior Notes tendered pursuant to an offer to prepay the Senior Notes pursuant to this Section 8.2 is less than the amount of such Net Cash Proceeds that is received, the Company may, after application of any such Net Cash Proceeds to
repay Indebtedness as required pursuant to the LC Facility Credit Agreement and any applicable Additional Permitted Senior Secured Indebtedness Documents (as defined in the Intercreditor Agreement), use any remaining Net Cash Proceeds for general
corporate purposes, subject to other covenants contained in this Agreement. 
 (g) Notwithstanding anything in this Section 8.2 to the
contrary, in the event that the terms of any other Permitted Senior Secured Indebtedness require the prepayment (or cash collateralization) thereof in the circumstances requiring an offer to prepay the Senior Notes pursuant to this Section 8.2,
the amount of such other Permitted Senior Secured Indebtedness required to be prepaid or cash collateralized shall be deemed to be tendered in full pursuant to such offer to prepay, and the amount or proceeds required to be applied to prepayment
pursuant to this Section 8.2 shall be applied ratably to the prepayment (or cash collateralization) of such other Permitted Senior Secured Indebtedness and to the Senior Notes tendered pursuant to such offer to prepay, together with accrued
interest thereon, as applicable. 
 (h) Notwithstanding anything in this Agreement to the contrary, in the event that one or more holders
declines, or fails to accept in writing, the initial offer of prepayment to be made pursuant to Section 8.2(d) as of the Initial Section 8.2 Acceptance Deadline Date, the Company shall promptly deliver to each such holder all documentation
and other information with respect to the transferee (as a result of the applicable Change of Control) as has been requested in writing by any such holder required to allow each such holder to comply with Applicable Law and related internal
procedures relating to “know your customer” and customary anti-money laundering rules and regulations, including the USA PATRIOT Act. 

Section 8.3 Optional Prepayments with Make-Whole Amount. 

(a) The Company may, at its option, upon notice as provided below and, if applicable, in accordance with Section 1.3(f)(iii) with
respect to Subordinate Notes, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than $1,000,000 and integral multiples of $100,000 in excess of such amount or, in each case, the lesser amount as is then
outstanding, at 100% of the principal amount so prepaid, and the Make-Whole Amount determined for the prepayment date with respect to such principal amount (unless such prepayment is made within 30 days of the Maturity Date of the respective Series
of Notes to be prepaid, in which case no Make-Whole Amount will be payable). 
 (b) The Company will give each holder of Notes and the
Notes Agent written notice of each optional prepayment under this Section 8.3 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment unless the Company and the Required Holders agree to another time period
pursuant to Section 18. Each such notice shall 

  
 33 

 
specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid
(determined in accordance with Section 8.4), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of an Authorized Officer as to the estimated
Make-Whole Amount, if any, due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation; provided that, notwithstanding anything herein to the
contrary, any such notice delivered pursuant to this Section 8.3 may state that such notice is conditioned upon the effectiveness of or receipt of proceeds of other Indebtedness, in which case such notice may be revoked by the Company (by
notice to the holders of Notes on or prior to the date that is two Business Days in advance of the date fixed for such prepayment) if such condition is not expected to be satisfied. Two Business Days prior to such prepayment, the Company shall
deliver to each holder of Notes a certificate of an Authorized Officer specifying the calculation of such Make-Whole Amount, if any, as of the specified prepayment date. 

Section 8.4 Allocation of Repayments and Partial Prepayments. In the case of each repayment of the Notes pursuant to
Section 8.1, and each partial prepayment of the Notes pursuant to Section 8.2 or Section 8.3, the principal amount of the Notes to be prepaid shall be allocated (a) in the case of any prepayment made pursuant to Sections 8.2(a),
(b), (c) or (d) in connection with the Company’s initial offer of prepayment contemplated therein and in Section 8.2(e), among all of the Senior Notes at the time outstanding that are held by holders who have agreed to accept such
prepayment in accordance with Section 8.2 in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment, (b) in the case of any prepayment made pursuant to
Section 8.2(e) in connection with the Company’s additional offer of prepayment contemplated therein, among all of the Senior Notes at the time outstanding that are held by holders who have agreed to accept such offer of prepayment in
accordance with Section 8.2(e) in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment (after accounting for any amounts determined pursuant to the foregoing clause (a)),
and (c) in all other cases, among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. All prepayments of the Senior Notes
made pursuant to Section 8.2 and all optional prepayments of the Notes made pursuant to Section 8.3 shall be applied pro rata to any remaining principal payments on the Notes, and in the case of the Initial Notes, the amortization schedule
set forth in such Section 8.1 shall be adjusted accordingly. 
 Section 8.5 Maturity; Surrender, Etc. In the case of each
prepayment of Notes pursuant to this Section 8, the principal amount (at a price equal to 101% of the principal amount prepaid in the case of a prepayment made in accordance with Section 8.2(d), but otherwise without any penalty or
premium) of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such
date, unless the Company shall fail to pay such principal amount (at a price equal to 101% of the principal amount prepaid in the case of a prepayment made in accordance with Section 8.2(d), but otherwise without any penalty or premium) when so
due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be
reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

  
 34 

 Section 8.6 Purchase of Notes. At any time and from time to time, any Obligor or
any Affiliate thereof may purchase Senior Notes pursuant to a call for tenders given to all holders of the Senior Notes by notice given in accordance with Section 19, which notice shall specify the purchase date (which shall not be earlier than
15 days after the giving of such notice), the purchase price and the place of payment thereof. Any such call for tenders shall provide that the terms and conditions for such purchase shall be the same for all Senior Notes except to the extent that
the respective purchase prices differ for different Series of Senior Notes as a result of differences in interest rates or payment or maturity dates. If an aggregate principal amount of the Senior Notes is tendered which is greater than that offered
to be purchased, such tendered Senior Notes shall be purchased on a pro rata basis in the proportion, as nearly as practicable, which the principal amount of Senior Notes tendered by each holder bears to the principal amount of Senior Notes tendered
by all holders of Senior Notes. None of the Obligors will, nor permit any Affiliate (or, solely if purchased, redeemed or acquired on the date of the Closing or the date of any issuance of Senior Notes or Subordinate Notes thereafter, any Person
beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any of its Subsidiaries) to, purchase, redeem or otherwise acquire any of the outstanding Senior Notes except as
provided for herein or purchase, redeem or otherwise acquire any outstanding Subordinate Notes (except for any redemptions permitted pursuant to Section 1.3(f)). The Company will promptly cancel all Senior Notes acquired by any Obligor or any
Affiliate (or, solely if acquired on the date of the Closing or the date of any issuance of Senior Notes or Subordinate Notes thereafter, any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity
interests of the Company or any of its Subsidiaries) thereof and no Senior Notes may be issued in substitution or exchange for any such Senior Note. 

Section 8.7 Make-Whole Amount. 

The term “Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value
of the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the
Make-Whole Amount, the following terms have the following meanings: 
 “Called Principal” means, with respect to any Note,
the principal of such Note that is to be prepaid pursuant to Section 8.3 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining
Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the
same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (a) 0.50% plus (b) the yield to
maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or
such other display as may 

  
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replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S.
Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such
Remaining Average Life, then such implied yield to maturity will be determined by (i) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between
the “Ask Yields” Reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to
and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note. 

If such yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then
“Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (x) 0.50% plus (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such
yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury constant
maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity
will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the
term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note. 

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (a) such
Called Principal into (b) the sum of the products obtained by multiplying (i) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (ii) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the
scheduled due date of such Remaining Scheduled Payment. 
 “Remaining Scheduled Payments” means, with respect to the Called
Principal of any Note, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date,
provided that if such Settlement Date is not a date on which interest payments are due to be made under the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such
Settlement Date and required to be paid on such Settlement Date pursuant to Section 8.3 or Section 12.1. 
 “Settlement
Date” means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.3 or has become or is declared to be immediately due and payable pursuant to
Section 12.1, as the context requires. 

  
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 Section 8.8 Payments Due on Non-Business
Days. Anything in this Agreement or the Notes to the contrary notwithstanding, (x) except as set forth in clause (y), any payment of interest on any Note that is due on a date that is not a Business Day shall be made on the next succeeding
Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; and (y) any payment of principal of or Make-Whole Amount on any Note (including principal due on the
Maturity Date of such Note) that is due on a date that is not a Business Day shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.

 Section 8.9 Withholding. Any and all payments by or on account of any obligation of any Obligor hereunder or under any other
Financing Document, including payments of interest on, principal of, Make-Whole Amount on or other amount with respect to any Note, shall be made without any deduction or withholding for any Taxes or fees of any kind whatsoever, unless the
obligation to deduct or withhold is required by Applicable Law. If any such deduction or withholding is required by Applicable Law, payments by or on account of any obligation of any Obligor hereunder or under any other Financing Document shall be
made net of such deduction or withholding (including, for the avoidance of doubt, any deduction or withholding under FATCA) and such deducted or withheld amounts shall be timely remitted to the appropriate Tax authority. 

SECTION 9. AFFIRMATIVE COVENANTS. 
 Each
Obligor covenants that, as to such Obligor, so long as any of the Notes are outstanding: 
 Section 9.1 Compliance with Laws.

 (a) Without limiting Section 10.4, or any other provision hereof or of any other Note Document, each Obligor will, and will cause
each of its Subsidiaries to, comply with all Applicable Laws and applicable Governmental Authorizations to which each of them is subject (including ERISA, Environmental Laws, and the other laws and regulations that are referred to in
Section 5.13, the FPA, PUHCA, PURPA and the other laws and regulations that are referred to in Section 5.17), in each case to the extent necessary to ensure that non-compliance with such Applicable
Laws would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) Notwithstanding the
foregoing clause (a) of this Section 9.1, each Obligor will, and will cause each of its Subsidiaries to, comply in all material respects with the USA PATRIOT Act and all applicable Anti-Corruption Laws, Anti-Money Laundering Laws and
Economic Sanctions Laws. 
 Section 9.2 Insurance. Each Obligor will, and will cause each of its Subsidiaries to, without cost
to the First Lien Collateral Agent or any other Secured Party, maintain or cause to be maintained, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and
contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if 

  
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adequate reserves are maintained with respect thereto) as is customary in the case of and commercially available to entities of established reputations engaged in the same or a similar business
and similarly situated; provided that insurance as is required to be maintained by the Tax Equity Documents as of the date of the Closing shall be deemed customary for purposes of this Section 9.2. 

Section 9.3 Maintenance of Properties. Each Obligor will, and will cause each of its Subsidiaries to, operate, maintain and keep,
or cause to be operated, maintained and kept, their respective properties (including the Projects and the assets of the Projects) (a) in good repair, working order and condition (other than ordinary wear and tear) and (b) in a manner in
accordance in all material respects with the applicable Project Documents and Prudent Industry Practice, so that the business carried on in connection therewith may be properly conducted at all times, in each case except as would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 9.4 Payment of Taxes and Claims. 

(a) Each Obligor will, and will cause each of its Subsidiaries to pay and discharge all Taxes before such Taxes become delinquent, except
those for which (i) the amount, applicability or validity thereof is contested by such Obligor or such Subsidiary on a timely basis in good faith and in appropriate proceedings and for which such Obligor or such Subsidiary, as the case may be,
has established adequate reserves therefor in accordance with GAAP on the books of such Obligor or such Subsidiary or (ii) the nonpayment of all such Taxes would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Each Obligor will, and will cause each of its Subsidiaries to, file all Tax Returns required to be filed in any jurisdiction, except where the failure to file such Tax Returns would not reasonably be expected to result in a Material
Adverse Effect. 
 (b) In the event the Company or any of its Subsidiaries receives a notice of final partnership administrative adjustment
under section 6231(a)(3) of the Code that would, with the passing of time, result in an “imputed underpayment” imposed on such Person, as that term is defined in section 6225 of the Code, the Company shall or shall cause the applicable
Subsidiary (to the extent within the control of the Company) to, at least five days before the date required by law, (x) timely elect pursuant to section 6226 of the Code to make inapplicable to such Person the requirements in section 6225 of
the Code to pay the “imputed underpayment” as that term is used in that section, (y) comply with all of the requirements and procedures required in connection with such election, and (z) provide evidence of such election to the
First Lien Collateral Agent. 
 Section 9.5 Corporate Existence, Etc. Subject to Section 10.2, (a) each Obligor will at all
times preserve and keep its corporate (or other organizational) existence in full force and effect and (b) each Obligor will cause each of its Subsidiaries to at all times preserve and keep its corporate (or other organizational) existence in
full force and effect, in each case except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Each Obligor will, and will cause each of its Subsidiaries to, at all times preserve and keep in full force and
effect all rights and franchises of such Obligor and its Subsidiaries unless, in the good faith judgment of the Company, the failure to preserve and keep in full force and effect such right or franchise would not, individually or in the aggregate,
have a Material Adverse Effect. 

  
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 Section 9.6 Books and Records. Each Obligor will, and will cause each of its
Subsidiaries to, maintain proper books of record and account in all material respects in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over such Obligor or such Subsidiary,
except, with respect to any Non-Obligor Subsidiary, as would not be Material. Each Obligor will, and will cause each of its Subsidiaries to, keep books, records and accounts which, in reasonable detail,
accurately reflect all transactions and dispositions of assets, except, with respect to any Non-Obligor Subsidiary, as would not be Material. 

Section 9.7 Necessary Project Approvals. Each Obligor will, and will cause each of its Subsidiaries to, maintain in full force and
effect and, in the name of the applicable Subsidiary, all Necessary Project Approvals, except where such failure would not reasonably be expected to have a Material Adverse Effect. 

Section 9.8 Performance of Obligations; Tax Equity Buyout Exercises. 

(a) Each Obligor will, and will cause each of its Subsidiaries to, perform all of its material obligations, and pursue all its material
rights and remedies, under each Project Document and Tax Equity Document to which it is a party, except for such nonperformance or non-pursuit as would not, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect. 
 (b) Elizabeth Cady Lessee Holdco LLC will, and will cause each of its applicable
Subsidiaries to, use good faith efforts to negotiate any applicable Tax Equity Buyout Exercises, consistent with the Base Case Projections and so long as such Tax Equity Buyout Exercise is commercially prudent (in the reasonable judgment of the
Company) and permitted by the other provisions of this Agreement and the Note Documents. 
 Section 9.9 Payment of Notes. The
Company will pay or cause to be paid the principal of, premium, if any, and interest on, the Notes on the dates and in the manner provided in the Notes. 

Section 9.10 Maintenance of Title. Each Obligor will, and will cause each of its Subsidiaries to, preserve and maintain good and
valid title to, or leasehold interest in, as applicable, all of its real and personal properties and assets (including the Projects), in each case, free and clear of any Liens other than Permitted Liens, except to the extent such failure would not
reasonably be expected to have a Material Adverse Effect. 
 Section 9.11 Use of Proceeds. The Company will, and will cause each
of its Subsidiaries to, use the proceeds of the Notes to fund, in whole or in part, renewable energy projects and as set forth in the funds flow memorandum delivered pursuant to Section 4.1(j), including financings or refinancings of, or
investments in, equipment and systems which generate or facilitate the generation of energy from renewable sources, such as solar energy, and the owners thereof. Specifically, the Company will, and will cause each of its Subsidiaries to, use the
proceeds of the Notes (a) to repay all Indebtedness of the Obligors and their Subsidiaries on the date of the Closing 

  
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other than Indebtedness permitted pursuant to Section 10.6, in accordance with the funds flow memorandum delivered pursuant to Section 4.1(j), (b) to fund ongoing working capital
requirements with respect to the Projects, (c) to make a special distribution to the Parent on the date of the Closing in the amount set forth in the funds flow memorandum delivered pursuant to Section 4.1(j), (d) to pay transaction fees
and expenses associated with the issuance of the Notes and the closing of the LC Facility and (e) for general corporate purposes. 

Section 9.12 Credit Ratings. The Company shall use commercially reasonable efforts to (a) cause a Rating Agency to provide
(and continue to provide) a Credit Rating on the Initial Notes and (b) deliver, once annually, and in each case promptly upon receipt by the Company, to the then-registered holders a ratings letter (or similar evidence) from the Applicable
Rating Agency indicating the then-current Credit Rating on the Senior Notes. The Company agrees to request that the Applicable Rating Agency include the Private Placement Number (if any) for each Series of Notes in any rating letter it may provide
in accordance with this Section 9.12 and provide a statement that such letter may be shared with the holders’ regulatory and self-regulatory bodies (including the Securities Valuation Office of the NAIC) and auditors of any holder of the
Initial Notes without need for a non-disclosure agreement with a Rating Agency; provided, however, the parties hereto acknowledge and agree that failure by the Applicable Rating Agency to include the
Private Placement Number (if any) or such statement for each Series of Notes in such rating letter shall not result in any breach, default or non-compliance by the Company hereunder. 

Section 9.13 Further Assurances. Each Obligor will, and will cause each of its Subsidiaries to, take all such further actions and
execute all such further documents and instruments as the Required Holders (or the First Lien Collateral Agent acting at the direction of the Required Holders) may at any time reasonably determine to be necessary to further carry out and consummate
the transactions contemplated by the Financing Documents. 
 Section 9.14 Separateness. Each Obligor will, and will cause each
of its Subsidiaries to: 
 (a) maintain accounts of such Obligor or such Subsidiary, as applicable, separate from those of the Parent and
each of their respective Affiliates (that are not Obligors or subsidiaries thereof) with commercial banking institutions and will not commingle their funds with those of the Parent or any of its Affiliates (that are not Obligors or subsidiaries
thereof); 
 (b) obtain proper authorization from member(s), director(s) and manager(s) as required by such Obligor’s or such
Subsidiary’s, as applicable, limited liability company agreement (or comparable organizational documents) for all of its limited liability company (or other applicable) actions; and 

(c) comply with the terms of such Obligor’s or such Subsidiary’s, as applicable, limited liability company agreement (or comparable
organizational documents), 
 it being understood and agreed by the parties hereto that immaterial breaches of this Section 9.14 that (i) are not,
in the aggregate, misleading as to the identity of any Obligor or any such Subsidiary and (ii) otherwise do not materially undermine the purpose intended to be served by the provisions of this Section 9.14 shall not, in each of clauses
(a) through (c) above, be deemed a breach of this Section 9.14. 

  
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 Section 9.15 Preservation of Collateral. Each Obligor will, and will cause each
of its Subsidiaries to, take all action reasonably required to preserve the validity, perfection and priority of the Liens purported to be granted to the First Lien Collateral Agent for the benefit of the Secured Parties pursuant to the Security
Documents (subject to Permitted Liens). 
 Section 9.16 Subsidiary Distributions. The Company will cause each other Obligor and
each of its other Subsidiaries to distribute all cash that such Obligor or such Subsidiary, as applicable, is permitted by Applicable Law and the terms of applicable Organizational Documents, Project Documents and the Tax Equity Documents to
distribute to the Company, directly or indirectly, provided that, each Project Company (and each other Subsidiary of an Obligor) shall be permitted to retain cash in an amount, in the Company’s reasonable discretion, necessary or
advisable for working capital purposes or the prudent operation and maintenance of the applicable Projects. The Company will deposit all cash received from any source (including distributions or payments from Subsidiaries or otherwise) into the
applicable Depositary Account for application solely for the purposes and in the order and manner provided in the Depositary Agreement. 

Section 9.17 Priority of Obligations. Each Obligor will cause this Agreement, the Notes (other than Subordinate Notes) and the
other Note Documents, and the obligations of such Obligor evidenced hereby and thereby, to at all times rank at least pari passu, without preference or priority, with all other senior secured Indebtedness of such Obligor, whether now existing or
hereafter outstanding. 
 Section 9.18 Existing Debt Payoffs. The Company will promptly complete the payoff of any Indebtedness
shown on the funds flow memorandum delivered pursuant to Section 4.1(j). 
 Section 9.19 Energy Regulatory Compliance. The
Company will take, and will cause each Subsidiary promptly to take, any and all actions necessary so that the Projects and Project Companies, as applicable, obtain and/or maintain the applicable Federal Energy Regulatory Authorizations, Exemptions,
and Waivers, and, as applicable, maintain exemption from or compliance with any State Electric Utility Regulations, except, in each case, to the extent failure to do so would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 Section 9.20 Tax Equity Guarantees. Each of the Obligors (a) will, or will cause the Tax Equity
Guarantors to, maintain in full force and effect the Tax Equity Guarantees and (b) will make, or cause the Tax Equity Guarantors to make, payments due (and not subject to a good faith dispute), in each case, under and in accordance with the Tax
Equity Guarantees, and except, in each case, to the extent that failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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	SECTION	 10. NEGATIVE COVENANTS. 

Each Obligor covenants that, as to such Obligor, so long as any of the Notes are outstanding: 

Section 10.1 Transactions with Affiliates. Each Obligor will not and will not permit any of its Subsidiaries to enter into directly
or indirectly any transaction or group of related transactions (including the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate, unless any such transaction or group of related
transactions (a) is described on Schedule 10.1; (b) contains terms no less favorable to such Obligor or such Subsidiary than those which would be included in a comparable arm’s length transaction entered into by a prudent Person with a
Person that is not an Affiliate, as determined in the reasonable judgment and good faith discretion of the Company; (c) is between or among the Company and/or any of its Subsidiaries, (d) is permitted by or described in Section 10.7
or Sections 10.8(e) or (j), (e) is an equity contribution pursuant to or in accordance with the applicable Obligor’s or its Subsidiary’s Organizational Documents, (f) Reserved, (g) is a Permitted Project Undertaking or a Permitted
Equity Commitment or (h) is otherwise expressly permitted under the Note Documents to be effected with an Affiliate (provided that to the extent that such transaction is with an Affiliate that is not a Subsidiary of the Company, such
transaction shall contain terms no less favorable to such Obligor or such Subsidiary than those which would be included in a comparable arm’s length transaction entered into by a prudent Person with a Person that is not an Affiliate, as
determined in the reasonable judgment and good faith discretion of the Company). Notwithstanding anything to the contrary herein, each Obligor and its Subsidiaries will be permitted to (x) enter into
non-speculative hedging (including effective sale) obligations (including with respect to capacity, energy, Tax and environmental attributes, ancillary services and other products and services sold in
accordance with the Project Documents or in the ordinary course of business) with Affiliates, and in connection therewith to transfer their capacity, energy, Tax or environmental attributes, ancillary services or other such products and services or
contracts relating thereto to such Affiliates in order to satisfy commitments by such Affiliates or facilitate the monetization thereof, in each case on arm’s length terms (including terms that are passed through from the applicable agreement
between the applicable Affiliate and a third party, with appropriate charges), (y) perform their obligations to the Manager under the Management Services Agreement and (z) provided that no material liability to the Obligors or their
Subsidiaries could reasonably be expected to arise therefrom, Dispose of the Merchant Projects to an Affiliate or otherwise for nominal consideration. 

Section 10.2 Merger, Consolidation, Disposition, Etc. Each Obligor will not and will not permit any of its Subsidiaries to: 

(a) enter into any merger or consolidation, or liquidate, wind-up or dissolve (or suffer any
liquidation or dissolution), discontinue its business or convey, lease, sell, transfer or otherwise dispose of, in one transaction or series of transactions (including by way of division), all or substantially all of its business or property,
whether now owned or hereafter acquired, except for a merger, consolidation, liquidation, windup, dissolution, or sale or transfer of all or substantially all of its assets (i) expressly permitted by this Agreement or the other Note Documents,
(ii) in connection with a Permitted Disposition, (iii) in connection with a Terminated PPA Sale; provided that the aggregate amount of proceeds from all such Terminated PPA Sales pursuant to this clause (iii) and clause
(viii) of Section 10.2(b) shall not exceed $30,000,000 and any such transaction shall be subject to Section 10.1, if applicable; (iv) in connection with liquidating, winding-up or
terminating Non-Obligor Subsidiaries no longer useful to the Company or its Subsidiaries; and (v) in the case of a Non-Obligor Subsidiary, with, into or to any
other Non-Obligor Subsidiary or to any Obligor, and in the case of any Obligor other than Holdings or the 

  
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 Company, with, into or to any other Obligor; provided, that no Disposition pursuant to this clause
(v) shall result in any asset of any of the Company’s Subsidiaries as of the Closing with respect to which a Tax Equity Investor has no direct or indirect interest being transferred to a Subsidiary in which a Tax Equity Investor has a direct or
indirect interest; or 
 (b) dispose of any of its property (including by way of division), or, in the case of any Subsidiary of the
Company, issue or sell any shares of such Subsidiary’s Equity Interest to any Person, except: (i) Dispositions expressly permitted by this Agreement or the other Note Documents; (ii) Dispositions of capacity, energy, Tax and
environmental attributes, ancillary services and other property and services in accordance with the Project Documents or in the ordinary course of business (including dispositions described in the last sentence of Section 10.1); (iii)
Dispositions of property, whether now owned or hereafter acquired, that is uneconomic, obsolete or no longer useful to the Company or its Subsidiaries, in each case, in the ordinary course of business; (iv) Dispositions of land rights
(including common facilities), interconnection rights and transmission rights to the extent the Disposition thereof would not reasonably be expected to materially adversely impact the operation of any Project; (v) Dispositions of Permitted
Investments and the Merchant Projects; (vi) Dispositions of a Project to a Power Purchaser or a Tax Equity Investor to the extent required by (and not, for the avoidance of doubt, at the option of the applicable Project Company) the terms of a
Power Purchase Agreement or a Tax Equity Document as in effect on the date of the Closing, respectively (any such sale, a “Required Sale”); (vii) Dispositions of assets (other than Required Sales) (any such sale, a
“Permitted Asset Sale”), so long as (x) after giving pro forma effect to such Dispositions and the prepayment of the Senior Notes in accordance with Section 8.2(b) (to the extent applicable, and assuming each holder of the
Notes accepts the initial offer of prepayment pursuant to Section 8.2(b) and 8.2(e)) and the associated mandatory prepayment of the LC Facility (and/or cash collateralization of Letters of Credit thereunder, to the extent applicable), the
projected average Debt Service Coverage Ratio through the Maturity Date shall be greater than or equal to 1.7:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be greater than or equal
to 1.4:1.0 and (y) if the aggregate amount of proceeds from the applicable Disposition exceeds $20,000,000 or the aggregate amount of proceeds from all Dispositions pursuant to this clause (vii) exceeds $50,000,000, the Rating Condition
shall be satisfied (such Required Sales and Permitted Asset Sales, collectively, “Permitted Dispositions”); (viii) Dispositions of any Project whose Power Purchase Agreement in effect as of the date of the Closing has expired or
been terminated (any such sale, a “Terminated PPA Sale”); provided that the aggregate amount of proceeds from all such Dispositions pursuant to this clause (viii) and clause (iii) of Section 10.2(a) shall not
exceed $30,000,000 and any such transaction shall be subject to Section 10.1, if applicable; (ix) Dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or
consistent with past practice or in bankruptcy or similar proceedings; (x) Dispositions pursuant to foreclosure, condemnation or any similar action with respect to any property or other assets; and (xi) Dispositions, in the case of a Non-Obligor Subsidiary, to any other Non-Obligor Subsidiary or to any Obligor, and in the case of any Obligor other than Holdings or the Company, to any other Obligor;
provided, that no Disposition pursuant to this clause (xi) shall result in any asset of any of the Company’s Subsidiaries as of the Closing with respect to which a Tax Equity Investor has no direct or indirect interest being
transferred to a Subsidiary in which a Tax Equity Investor has a direct or indirect interest. 

  
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 Section 10.3 Line of Business. Each Obligor will not and will not permit any of
its Subsidiaries to engage in any business if, as a result, the general nature of the business in which the Obligors and their Subsidiaries, taken as a whole, would then be engaged would be substantially changed from the general nature of the
business (including any matters reasonably related or incidental thereto) in which the Obligors and their Subsidiaries, taken as a whole, are engaged on the date of this Agreement as described in the Memorandum (it being acknowledged and agreed that
(a) the generation production, sale, transmission and/or storage of renewable electric power and matters reasonably incidental or related thereto shall be permitted, (b) the actual or expected nameplate capacity of the facilities owned by
the Obligors and their Subsidiaries comprised of facilities under construction exceeding 10% of the actual or expected nameplate capacity of all facilities owned by the Obligors and their Subsidiaries shall not be permitted and (c) the actual
or expected nameplate capacity of the facilities owned by the Obligors and their Subsidiaries comprised of wind generation facilities exceeding 10% of the actual or expected nameplate capacity of all facilities owned by the Obligors and their
Subsidiaries shall not be permitted). 
 Section 10.4 Economic Sanctions, Etc. Holdings will not, and will not permit any of its
Controlled Entities to (a) become (including by virtue of being owned or controlled by a Blocked Person) a Blocked Person, (b) directly or knowingly indirectly engage in any dealing or transaction with any Person if such dealing or
transaction is prohibited by applicable Economic Sanctions Laws or other applicable sanctions laws or (c) directly or knowingly indirectly use the proceeds of the Notes, or lend, contribute or otherwise make available such proceeds to any
subsidiary, joint venture partner or other Person, (i) in connection with any activities or business of or with any Person, or in or involving any country or territory, that, at the time of such funding, is, or whose government is, the subject
of any comprehensive Economic Sanctions Laws, each to the extent in violation of Economic Sanctions Laws, or (ii) in any manner that would result in, or cause, a violation of Economic Sanctions Laws or other applicable sanctions laws by any
Person in connection with this Agreement (including any purchaser of the Notes). 
 Section 10.5 Liens. Each Obligor will not
and will not permit any of its Subsidiaries to directly or indirectly create, incur, assume or permit to exist (upon the happening of a contingency or otherwise) any Lien on or with respect to any Collateral or any other property or asset (including
any document or instrument in respect of goods or accounts receivable) of such Obligor or any such Subsidiary, whether now owned or held or hereafter acquired, or any income or profits therefrom, or assign or otherwise convey any right to receive
income or profits, except the following (collectively, “Permitted Liens”): 
 (a) the Liens created by, and the other
rights and interests of the First Lien Collateral Agent and the other First Lien Secured Parties as provided in, the First Lien Security Documents (including with respect to any Additional Senior Notes); 

(b) Liens imposed by any Governmental Authority for Taxes or customs duties, either (i) secured by an acceptable bond or (ii) not
yet due or (iii) being contested in good faith and by appropriate proceedings and in respect of which appropriate reserves have been established in accordance with GAAP, so long as such proceedings shall not involve any material danger of the
sale, forfeiture or loss of any Material Project or any Material Project site (or any material portion thereof), title thereto or any material interest therein and shall not interfere in any material respect with the use or disposition of any
Material Project or any Material Project site (or any material portion thereof); 

  
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 (c) materialmen’s, mechanics’, workers’, repairmen’s, employees’
or other like Liens arising in the ordinary course of business either for amounts not yet delinquent or for amounts being contested in good faith and by appropriate proceedings and that in the aggregate are not Material; 

(d) Liens that exist as of the date of the Closing and are identified on Schedule 10.5; 

(e) Liens incurred or deposits made in the ordinary course of business in connection with worker’s compensation, unemployment insurance,
social security and other laws; 
 (f) with respect to any real property interests, (i) matters that would be disclosed by an
inspection or survey of such real property and do not, in the aggregate, materially impair the current occupancy or use of the estate or real property to which they relate, (ii) all building, land use, entitlement and zoning codes,
Environmental Laws and other Applicable Laws heretofore, now or hereafter enacted, made or issued, (iii) all rights with respect to the ownership, mining, extraction and removal of oil, gas or minerals of whatever kind and character (including
any rights to gravel, hard rock aggregate, or water extraction) that have been excepted or reserved in the public records and (iv) minor defects, easements,
rights-of-way, servitudes, encroachments, restrictions and other similar encumbrances incurred in the ordinary course of business and all other encumbrances, permits,
leases, licenses, covenants, conditions, restrictions on the use of property, minor imperfections in title or other matters of a similar nature that do not secure any monetary obligations and which do not materially interfere with the current
operation of the Material Projects; 
 (g) Liens, deposits or pledges to secure statutory obligations or performance of bids, tenders,
contracts (other than for the repayment of borrowed money) or leases, or surety bonds, appeal bonds or performance bonds or for purposes of like general nature in the ordinary course of its business; 

(h) Liens on assets (real or personal) of any Project Company which assets collectively have a fair market value of less than $30,000,000 in
the aggregate, together with Liens for all Project Companies existing under clauses (i) and (n) of this Section 10.5; 
 (i)
involuntary Liens (including a Lien of an attachment, judgment or execution) securing a charge or obligation, on any Project Company’s property, either real or personal, whether now or hereafter owned, in the aggregate sum of less than
$30,000,000, together with Liens for all Project Companies existing under clauses (h) and (n) of this Section 10.5; 
 (j) Liens
and any right of setoff in favor of any bank arising by operation of applicable law or granted pursuant to any contract or agreement governing any deposit accounts permitted under this Agreement or in favor of any credit card company pursuant to an
agreement therewith; 

  
 45 

 (k) non-exclusive licenses of patents, copyrights,
trademarks and other intellectual property rights granted in the ordinary course of business and not interfering in any material respect with the ordinary conduct of or materially detracting from the value of the business of the Obligors; 

(l) reservations, limitations, provisos and conditions, if any, expressed in any grants, permits, licenses or approvals from any governmental
authority or any similar authority; 
 (m) Liens securing insurance premium financing arrangements; 

(n) Liens securing Indebtedness permitted under Section 10.6(b); provided that, (i) such Liens do not at any time encumber
any property other than the property financed by such Indebtedness and (ii) the aggregate outstanding principal amount of such Indebtedness as of the date of incurrence which when taken together with the principal amount of all other
Indebtedness secured pursuant to this clause (n), together with the aggregate amount of the Liens secured by clauses (h) and (i) of this Section 10.5 does not, at any time, exceed $30,000,000; 

(o) Liens deemed to exist in connection with repurchase agreements and other similar investments to the extent such investments are permitted
under the Note Documents; 
 (p) 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; 
 (q) any interest or title of a lessor or
sublessor under any lease or sublease of real estate permitted under the Note Documents (or with respect to any deposits or reserves posted thereunder); 

(r) Liens and other rights and interests (including of the nature of netting and set off, rights of first refusal, rights of first offer,
purchase options and similar rights in respect of the assets of the Project Companies) set forth in the Organizational Documents of the Company or any of its Subsidiaries in effect as of the date of the Closing or entered into after the date of the
Closing in the ordinary course of business consistent with past practices, Project Documents in effect as of the date of the Closing or entered into after the date of the Closing in the ordinary course of business, or the Tax Equity Documents in
effect as of the date of the Closing or entered into after the date of the Closing in the ordinary course of business consistent with past practices; 

(s) Liens and other rights and interests on any assets committed to be sold pursuant to a transaction permitted by this Agreement; 

(t) Liens of trade vendors securing trade or other similar indebtedness incurred in the ordinary course of business and not more than 90 days
past due and that in the aggregate are not Material; 

  
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 (u) Liens and other exceptions to title to, or leasehold interests in, property that are
set forth in any title insurance policies, in each case for purposes of this clause (u), as in existence as of the date of the Closing; 

(v) second priority Liens on the Collateral (including with respect to any Subordinate Notes) pursuant to the terms of the Second Lien
Security Documents (as defined in the Intercreditor Agreement) securing the Obligors’ Second Lien Obligations (as defined in the Intercreditor Agreement), which second priority Liens shall be subject to the terms of the Intercreditor Agreement;
and 
 (w) other Liens securing an amount not to exceed $30,000,000; provided that if Indebtedness is secured by Liens
pursuant to this clause (w) and such Indebtedness is (A) secured on a first priority basis, the agent or representative for the secured parties under the financing documents evidencing such Indebtedness has joined the Intercreditor
Agreement pursuant to a joinder as a Secured Debt Representative (as defined in the Intercreditor Agreement) or (B) secured on a second priority basis, a Second Lien Collateral Agent (as defined in the Intercreditor Agreement) has been
appointed by the secured parties under such Indebtedness and such Second Lien Collateral Agent has joined the Intercreditor Agreement pursuant to a joinder. 

Section 10.6 Indebtedness. Each Obligor will not and will not permit any of its Subsidiaries to create, incur, assume, suffer to
exist or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, other than the following: 
 (a)
Indebtedness of the Company under (i) the Notes and (ii) the LC Facility (and any Replacement LC Facility); 
 (b) Indebtedness
of the Company or any Subsidiary thereof in respect of Capital Leases, Synthetic Lease obligations, purchase money obligations, and for deferred purchase price obligations, in each case, for fixed or capital assets and services within the
limitations set forth in proviso of Section 10.5(n); 
 (c) trade or other similar Indebtedness of the Company or any Subsidiary
thereof incurred in the ordinary course of business (but not for borrowed money) that is (i) not more than 90 days past due or (ii) being contested in good faith and by appropriate proceedings; 

(d) Guarantees of any Guarantor in respect of Indebtedness otherwise permitted hereunder of the Company; 

(e) Indebtedness of the Company or any Subsidiary thereof in respect of workers’ compensation claims, self-insurance obligations,
bankers’ acceptances, performance and surety bonds in the ordinary course of business; 
 (f) Indebtedness of any Obligor or any
Subsidiary thereof arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds, so long as such debt is promptly covered; 

  
 47 

 (g) contingent obligations of the Company or any Subsidiary thereof arising from
indemnities provided under the Financing Documents, Tax Equity Documents and Project Documents; 
 (h) Indebtedness of the Company or any
Subsidiary thereof arising from netting services, overdraft protection, cash management obligations and otherwise in connection with the Depositary Accounts; 

(i) Indebtedness of the Company or any Subsidiary thereof providing for (i) indemnification, adjustment of purchase price or similar
obligations or (ii) deferred purchase price obligations, in each case, in connection with the acquisition or disposition of any business, assets or Equity Interests of a Subsidiary of the Company after the Closing or as set forth in Schedule
10.6; provided that any Indebtedness incurred after the Closing pursuant to clause (ii) shall not exceed $5,000,000 at any time; 

(j) Indebtedness representing deferred compensation to employees of the Company or any Subsidiary thereof arising in the ordinary course of
business; 
 (k) Indebtedness of the Company or any Subsidiary thereof consisting of the financing of insurance premiums in the ordinary
course of business; 
 (l) Indebtedness of the Company or any Subsidiary thereof consisting of judgments which do not constitute an Event
of Default under Section 11(k); 
 (m) Taxes or customs duties, either (i) secured by an acceptable bond or (ii) not yet due
or (iii) being contested in good faith and by appropriate proceedings and in respect of which appropriate reserves have been established in accordance with GAAP, so long as such proceedings shall not involve any material danger of the sale,
forfeiture or loss of any Project or any Project site (or any material portion thereof), title thereto or any material interest therein and shall not interfere in any material respect with the use or disposition of any Project or any Project site
(or any material portion thereof); 
 (n) Indebtedness of the Company or any Subsidiary thereof arising from
non-speculative hedging obligations and hedging and hedge-like obligations with respect to capacity, energy, Tax and environmental attributes, ancillary services and other products and services in accordance
with the Project Documents or in the ordinary course of business; 
 (o) Indebtedness in respect of performance bonds, bid bonds, letters
of credit, appeal bonds, surety bonds, completion guarantees, indemnification obligations, obligations to pay insurance premiums, take or pay obligations and similar obligations incurred in the ordinary course of business in connection with Project
Obligations; 
 (p) other Indebtedness of the Company; provided that the following conditions shall be satisfied at the time of
incurrence: (i) to the extent that the Indebtedness incurred by the Company pursuant to this clause (p) is the issuance of Securities similar to the Initial Notes or Subordinate Notes, the terms of Section 1.3(e) and
Section 1.3(f) shall apply to such Securities as if such Securities are Additional Senior Notes or Subordinate Notes, respectively, (ii) the projected average Debt Service Coverage Ratio through the Maturity Date

  
 48 

 
shall be greater than or equal to 1.7:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be greater than or equal to 1.4:1.0, (iii)
the Rating Condition shall be satisfied, (iv) to the extent such Indebtedness is unsecured or secured on a second priority basis, the projected average Debt Service Coverage Ratio (calculated as though Debt Service were defined to include all
Indebtedness of the Company for borrowed money that is unsecured or secured on a first priority basis or second priority basis) through the Maturity Date shall be greater than or equal to 1.2:1.0 and (v) to the extent such Indebtedness is
(A) secured on a first priority basis, the agent or representative for the secured parties under the financing documents evidencing such Indebtedness has joined the Intercreditor Agreement pursuant to a joinder as a Secured Debt Representative
(as defined in the Intercreditor Agreement) or (B) secured on a second priority basis, a Second Lien Collateral Agent (as defined in the Intercreditor Agreement) has been appointed by the secured parties under such Indebtedness and such Second
Lien Collateral Agent has joined the Intercreditor Agreement pursuant to a joinder; and 
 (q) any Indebtedness of the Company or any
Subsidiary thereof in an aggregate outstanding amount, together with the aggregate amount of Indebtedness incurred pursuant to clause (b) of this Section 10.6, not to exceed $30,000,000 at any time; provided that (i) to the extent
that the Indebtedness incurred by the Company pursuant to this clause (q) is the issuance of Securities similar to the Initial Notes, whether secured or unsecured, the terms of Section 1.3(e) and Section 1.3(f) shall apply to such
Securities and (ii) to the extent that the Indebtedness incurred pursuant to this clause (q) is secured by a Permitted Lien under clause (w) of Section 10.5, if such Indebtedness is (A) secured on a first priority basis, the
agent or representative for the secured parties under the financing documents evidencing such Indebtedness has joined the Intercreditor Agreement pursuant to a joinder as a Secured Debt Representative (as defined in the Intercreditor Agreement) or
(B) is a secured on a second priority basis, a Second Lien Collateral Agent (as defined in the Intercreditor Agreement) has been appointed by the secured parties under such Indebtedness and such Second Lien Collateral Agent has joined the
Intercreditor Agreement pursuant to a joinder. 
 Section 10.7 Restricted Payments. Neither the Company nor any Guarantor will
declare, make or pay, or permit any Subsidiary to make or pay, any Restricted Payments except that: (a) each Guarantor may declare, make and pay any Restricted Payments to the Company or another Guarantor and each
Non-Obligor Subsidiary may declare, make and pay any Restricted Payments to the Company or any other Subsidiary of the Company, (b) the Company may make Permitted Tax Distributions in accordance with the
Depositary Agreement and so long as no Default or Event of Default shall have occurred and be continuing or would exist after giving effect to such Permitted Tax Distribution, (c) in the case of the Subsidiaries, Restricted Payments may be made
to the Tax Equity Investors to the extent expressly required by the terms of the applicable Tax Equity Documents as in effect on the date of the Closing, and (d) the Company may declare, make and pay Restricted Payments so long as the following
conditions (the “Distribution Conditions”) have been satisfied as of the date of the proposed Restricted Payment: 

(i) no Default or Event of Default shall have occurred and be continuing or would exist after giving effect to such Restricted
Payment; 
 (ii) the Debt Service Reserve Account shall be fully funded in accordance with the requirements of the
Depositary Agreement and, if applicable, each of the Supplemental Reserve Account and the Buyout Reserve Account shall be fully funded in accordance with the requirements of the Depositary Agreement; 

  
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 (iii) the Debt Service Coverage Ratio for the previous Rolling Period of
the Company (provided that, for any Restricted Payment made during the first 12 months after the date of the Closing, such Debt Service Coverage Ratio shall be based on the Debt Service Coverage Ratio for the period from the Closing to the
date of the proposed Restricted Payment) shall be equal to or greater than 1.2:1.0; 
 (iv) the projected Debt Service
Coverage Ratio for the Rolling Period commencing on the applicable Semi-Annual Payment Date shall be equal to or greater than 1.2:1.0; 

(v) all then due and payable Reimbursement Obligations and LC Loans shall have been repaid in full; 

(vi) such Restricted Payment is made solely from the funds on deposit in the Distribution Reserve Account; and 

(vii) the Company shall have delivered to each holder of a Note that is an Institutional Investor a certificate of an
Authorized Officer certifying that each of the conditions set forth in clauses (i) through (iv) above have been satisfied, and attaching calculations demonstrating that the Debt Service Coverage Ratio specified in clause (iii) above has
been satisfied, as of the date of the proposed Restricted Payment. 
 Section 10.8 Investments. Each Obligor will not and will
not permit any of its Subsidiaries to make any Investments other than: 
 (a) Permitted Investments; 

(b) Investments consisting of the purchase of interests in Projects in accordance with the Tax Equity Documents pursuant to a “call
right”, “purchase option”, “put option”, “right of withdrawal” or similar right or option set forth therein (each such purchase, a “Tax Equity Buyout Exercise”), provided that, the aggregate Dollar
amount of all such Tax Equity Buyout Exercises shall not exceed $100,000,000, except that such limit shall not apply in the case of any amounts (i) payable from the Distribution Reserve Account so long as the Distribution Conditions are
satisfied or (ii) funded with Indebtedness or equity contributions permitted hereunder; 
 (c) Investments constituting Capital
Expenditures made in accordance with Section 10.9; 
 (d) Investments in any Obligor or any of their Subsidiaries owned as of the date
of the Closing; 

  
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 (e) Investments with cash on deposit in the Distribution Reserve Account, that otherwise
would be distributable; 
 (f) Investments required in accordance with Organizational Documents (including the Tax Equity Documents) as in
effect on the date of the Closing; 
 (g) performance of any guarantees or undertakings made for the benefit of Subsidiaries; 

(h) Investments identified in the Base Case Projections or the funds flow memorandum delivered on the date of the Closing pursuant to
Section 4.1(j); 
 (i) other Investments so long as (i) the projected average Debt Service Coverage Ratio through the Maturity
Date following such Investments shall be greater than or equal to 1.7:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be greater than or equal to 1.4:1.0 and (ii) solely if the
aggregate amount invested in such Investment exceeds $20,000,000 or the aggregate amount of Investments pursuant to this clause (i) exceeds $50,000,000, the Rating Condition shall be satisfied; and 

(j) accepting contributions and transfers from a Person that owns any outstanding shares of its capital stock or similar Equity Interests.

 Section 10.9 Capital Expenditures. Each Obligor will not and will not permit any of its Subsidiaries to make any capital
expenditures, other than: 
 (a) Required Capital Expenditures; and 

(b) any capital expenditure made to make any modification, alteration, addition or improvement to the Projects that the Company considers
necessary or desirable in the proper conduct of the business of the Company and its Subsidiaries, as determined in the sole discretion of the Company (collectively, “Discretionary Capital Expenditures”), so long as the projected
average Debt Service Coverage Ratio through the Maturity Date following such Discretionary Capital Expenditures shall be greater than or equal to 1.7:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the
Maturity Date shall be greater than or equal to 1.4:1.0. 
 Section 10.10 Restrictions on Subsidiary Dividends or Other
Distributions. Except as may be required by Applicable Law, the Financing Documents, the Tax Equity Documents in effect on the date of the Closing and Contractual Obligations described on Schedule 5.4 in effect on the date of the Closing, the
Company will not and will not permit any of its Subsidiaries to create or otherwise cause or suffer to exist or become effective any consensual encumbrance, limitation or restriction of any kind on the ability of any Subsidiary of the Company to pay
dividends or make any other distributions on any of such Subsidiary’s Equity Interests owned by the Company or any other Subsidiary of the Company, provided that: 

The provisions described in this Section 10.10 will not apply to: 

(a) encumbrances and restrictions existing under or by reason of this Agreement; 

  
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 (b) any agreement or instrument in effect on the date of the Closing, and any replacement
thereof that is entered into on an arm’s-length basis and, taken as a whole, is no more restrictive that the agreement or instrument it replaces; 

(c) encumbrances or restrictions contained in any agreement or other instrument of a Person acquired by the Company or any Subsidiary in
effect at the time of such acquisition in each case, which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the acquired or redesignated Person, or the property or assets of the
acquired or redesignated Person, and was not put in place in contemplation of such event; 
 (d) encumbrances or restrictions contained in
contracts for sales of Equity Interests or assets permitted by Section 10.2 with respect to the assets or Equity Interests to be sold pursuant to such contract or in customary merger or acquisition agreements (or any option to enter into such
contract) for the purchase or acquisition of Equity Interests or assets or any of the Company’s Subsidiaries by another Person; 
 (e)
encumbrances or restrictions existing under or by reason of applicable law, regulation or similar restriction or by governmental licenses, concessions, franchise or permits; 

(f) encumbrances or restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary
course of business; 
 (g) customary restrictions on the transfer of non-cash assets contained in
power purchase agreements and similar agreements; and 
 (h) customary provisions contained in agreements entered into in the ordinary
course of business. 
 Section 10.11 Tax Equity Guarantees. Each of the Obligors will not, and will use commercially reasonable
efforts to cause each Tax Equity Guarantor not to, amend, modify, supplement or terminate any Tax Equity Guarantee, other than to the extent that such amendment, modification, supplement or termination would not reasonably be expected to have a
Material Adverse Effect. 
 Section 10.12 Tax Credits and Other Tax-Related Matters.
None of the Obligors or any Subsidiary thereof will, nor will any Obligor or any Subsidiary thereof direct or, to the extent within the control of an Obligor or Subsidiary thereof, permit any Person to, (a) take any action which could
reasonably be expected to result in any indemnity claim by a Tax Equity Investor against such Obligor or any Subsidiary with respect to any recapture, disallowance, reduction or loss of any Tax credit or other Tax benefit claimed with respect to any
Project subject to a Tax Equity Document that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect, (b) apply for or claim any grant under Section 1603 of Division B of the American Recovery and
Reinvestment Act of 2009, as amended, with respect to any Project or 

  
 52 

 
any property that is part of a Project or (c) make an election under Section 1101(g)(4) of the Bipartisan Budget Act, or any subsequent law or guidance (including pursuant to Treasury
Regulations Section 301.9100-22T) to have the provisions of Section 1101 of the Bipartisan Budget Act apply to any partnership income Tax Returns of an Obligor or any Subsidiary thereof filed for any
taxable year thereof before January 1, 2018. Except as set forth on Schedule 10.12, none of the Obligors or any Subsidiary thereof will, or, to the extent within the control of an Obligor or Subsidiary thereof, permit any Person to take any
action (by election or otherwise) that would reasonably be expected to result in the Company or any Subsidiary of the Company being treated as a corporation, or an association taxable as a corporation, for U.S. federal tax purposes (or any similar
or corresponding state or local tax purposes). 
 Section 10.13 Organizational Documents. Each of the Obligors will not, and
will cause each of its Subsidiaries not to, amend, modify or supplement any of its Organizational Documents, other than to the extent that such amendment, modification or supplement would not reasonably be expected to have a Material Adverse Effect
and not adverse to the interests of the holders in any material respect. 
 Section 10.14 Speculative Transactions. 

(a) None of the Obligors or any Subsidiary thereof will engage in any transaction involving commodity swaps, options or futures contracts or
any similar transactions other than in the ordinary course of business and not for speculative purposes. 
 (b) The Company shall not
permit more than 90% of the expected generation output (as determined in good faith by the Company) of any Project that, based on the projected Cash Flow Available for Debt Service for the most recently completed Rolling Period for which financial
statements have been delivered in accordance with Section 7.1, is projected, in the aggregate, to generate 5% or more of the aggregate Cash Flow Available for Debt Service over such Rolling Period to be subject to commodity swaps, options or
futures contracts or any similar transactions unless the Company has reasonably determined that adequate resources are available to it or its applicable Subsidiary to satisfy any reasonably likely shortfall in actual generation output of such
Project. 
  

	SECTION	 11. EVENTS OF DEFAULT. 

An “Event of Default” shall exist if any of the following conditions or events shall occur and be continuing: 

(a) any principal or Make-Whole Amount, if any, on any Note is not paid when the same becomes due and payable, whether at maturity or at a
date fixed for prepayment or by declaration or otherwise; or 
 (b) any interest or fees on any Note is not paid for more than five
Business Days after the same becomes due and payable; or 
 (c) (i) any amount due in respect of any Note, other than such amounts
described in Sections 11(a) or (b), is not paid, for more than 30 days after the same becomes due and payable or (ii) any amount due in respect of any Note Document (other than the Notes) is not paid, within 15 days of any Obligor receiving
written notice that such amount is overdue (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(c)(ii)); or 

  
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 (d) (i) any Obligor defaults in the performance of or compliance with any term
contained in Section 8.2(d), Section 9.11 or Section 10, (ii) any Obligor defaults in the performance of or compliance with the first sentence of Section 9.5, and such default is not remedied within five Business Days or
(iii) any Obligor defaults in the performance of or compliance with any term contained in Section 7.1(d) or Section 9.2 and such failure is not remedied within 10 days; or 

(e) any Obligor defaults in the performance of or compliance with any term contained herein (other than those referred to in Sections 11(a),
(b), (c) and (d)) or in any other Note Document and such default is not remedied or waived within 30 days after the earlier of (i) an Authorized Officer obtaining Knowledge of such default and (ii) any Obligor receiving written notice of
such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(e)); provided, however, that if such Default is capable of being
cured and if such Obligor commences efforts to cure such Default within such 30 day period or if such Obligor is prevented from curing such Default within such 30 day period due to applicable legal or regulatory restrictions, it may continue to
effect such cure of the Default (and such Default will not be deemed an Event of Default) for an additional 45 days; or 
 (f) any
representation or warranty made by or on behalf of any Obligor or by any officer of any Obligor in any Note Document or any writing or certificate furnished in connection with the transactions contemplated hereby proves to have been untrue in any
material respect on the date as of which made; provided, however, that the same shall not constitute an Event of Default if (i) the fact, event or circumstance resulting in such false or incorrect representation or
warranty is capable of being cured, corrected or otherwise remedied, and (ii) such fact, event or circumstance resulting in such false or incorrect representation or warranty shall have been cured, corrected or otherwise remedied within 30 days
(or if such incorrect representation or warranty is not susceptible to cure within 30 days, and such Obligor is proceeding with diligence and in good faith to cure such default and such default is susceptible to cure, such 30 day period shall be
extended as may be necessary to cure such incorrect representation or warranty, such extended period not to exceed 90 days in the aggregate (inclusive of the original 30 day period)) from the earlier of (x) an Authorized Officer has Knowledge
thereof and (y) any Obligor receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(f)); or 

(g) (i) any Obligor or any of its Subsidiaries is in default (as principal or as guarantor or other surety) in the payment of any
principal of or premium or make-whole amount or interest on, in the aggregate, any Material Indebtedness beyond any period of grace provided with respect thereto, or (ii) any Obligor or any of its Subsidiaries is in default in the performance
of or compliance with any term of any evidence of, in the aggregate, any Material Indebtedness or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such
Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due 

  
 54 

 and payable before its stated maturity or before its regularly scheduled dates of payment, or (iii) as
a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Indebtedness to convert such Indebtedness into Equity Interests and excluding mandatory prepayments not arising
from a default), (x) any Obligor or any of its Subsidiaries has become obligated to purchase or repay, in the aggregate, any Material Indebtedness before its regular maturity or before its regularly scheduled dates of payment, or (y) one or
more Persons have the right to require any Obligor or any such Subsidiary so to purchase or repay such Indebtedness, or (iv) without limiting the foregoing clauses (i) through (iii), an Event of Default (as defined in the LC Facility
Credit Agreement) has occurred under the LC Facility, except, in the case of clauses (i) through (iii), to the extent such event would not reasonably be expected to be Material; or 

(h) any Obligor or any Subsidiary of any Obligor (i) is generally not paying, or admits in writing its inability to pay, its debts as
they become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy,
insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar
powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing, except, in the case of any
Obligor or any Subsidiary of an Obligor (other than, in each case, the Company or Holdings), to the extent such event would not reasonably be expected to be Material; or 

(i) a court or other Governmental Authority of competent jurisdiction enters an order appointing, without consent by any Obligor or any
Subsidiary of any Obligor, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief or
reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of any
Obligor or any Subsidiary of any Obligor, or any such petition shall be filed against any Obligor or any Subsidiary of any Obligor and such petition shall not be dismissed within 60 days, except, in the case of any Obligor or any Subsidiary of an
Obligor (other than, in each case, the Company or Holdings), to the extent such event would not reasonably be expected to be Material; or 

(j) any event occurs with respect to any Obligor or any Subsidiary of any Obligor, which under the laws of any jurisdiction is analogous to
any of the events described in Section 11(h) or Section 11(i), provided that the applicable grace period, if any, which shall apply shall be the one applicable to the relevant proceeding which most closely corresponds to the proceeding
described in Section 11(h) or Section 11(i), except, in the case of any Obligor or any Subsidiary of an Obligor (other than, in each case, the Company or Holdings), to the extent such event would not reasonably be expected to be Material;
or 
 (k) one or more final judgments or orders for the payment of money aggregating in excess of $60,000,000 (or its equivalent in the
relevant currency of payment) (excluding any judgments or orders covered by insurance and for which the applicable insurer has acknowledged liability) are rendered against one or more of the Obligors and their Subsidiaries and which judgments are
not, within 60 days after entry thereof, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay; or 

  
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 (l) if (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or
the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan shall have been or is reasonably
expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan may
become a subject of any such proceedings, (iii) there is any “amount of unfunded benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under one or more Plans, determined in accordance with Title IV of ERISA,
(iv) the aggregate present value of accrued benefit liabilities under all funded Non-U.S. Plans exceeds the aggregate current value of the assets of such Non-U.S.
Plans allocable to such liabilities, (v) the Company or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to
employee benefit plans, (vi) the Company or any ERISA Affiliate withdraws from any Multiemployer Plan, (vii) Holdings or any Subsidiary of Holdings establishes or amends any employee welfare benefit plan that provides post-employment
welfare benefits in a manner that would increase the liability of Holdings or any such Subsidiary thereunder, (viii) Holdings or any Subsidiary of Holdings fails to administer or maintain a Non-U.S. Plan
in compliance with the requirements of any and all applicable laws, statutes, rules, regulations or court orders or any Non-U.S. Plan is involuntarily terminated or wound up, or (ix) Holdings or any
Subsidiary of Holdings becomes subject to the imposition of a financial penalty (which for this purpose shall mean any tax, penalty or other liability, whether by way of indemnity or otherwise) with respect to one or more Non-U.S. Plans; and any such event or events described in clauses (i) through (ix) above, either individually or together with any other such event or events, would reasonably be expected to have a Material
Adverse Effect. As used in this Section 11(l), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the respective meanings assigned to such terms in section 3 of ERISA; or 

(m) any Governmental Authorization required for the ownership or operation of any Project is revoked, terminated, withdrawn or ceases to be
in full force and effect, except to the extent such revocation, termination, withdrawal or cessation would not reasonably be expected to have a Material Adverse Effect; or 

(n) any Security Document after delivery thereof shall for any reason (other than pursuant to the terms thereof) cease to create a valid and
perfected first priority Lien (subject to Permitted Liens) on any material portion of the Collateral; provided that the failure of a Lien to be valid and/or perfected shall not constitute an Event of Default if such cessation has been cured
within five Business Days after any Authorized Officer obtained Knowledge thereof, and such valid and perfected Lien (with the priority described in such Security Document) is restored; or 

  
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 (o) any provision of any Note Document at any time after its execution and delivery and for
any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Secured Obligations, ceases to be in full force and effect (in each case, except in connection with its expiration in accordance with its terms
(and not related to any default thereunder)); or any Obligor or any of its Affiliates expressly repudiates in writing the validity or enforceability of any provision of any Note Document; or any Obligor denies in writing that it has any or further
liability or obligation under any provision of any Note Document or expressly purports to revoke, terminate or rescind any provision of any Note Document. 
  

	SECTION	 12. REMEDIES ON DEFAULT, ETC. 

Section 12.1 Acceleration. 

(a) If an Event of Default with respect to any Obligor described in Section 11(h), (i) or (j) (other than an Event of Default described
in clause (i) of Section 11(h) or described in clause (vi) of Section 11(h) by virtue of the fact that such clause encompasses clause (i) of Section 11(h)) has occurred, all the Senior Notes then outstanding shall
automatically become immediately due and payable. 
 (b) If any other Event of Default has occurred and is continuing, the Required Holders
may at any time at their option, by notice or notices to the Company, declare all the Senior Notes then outstanding to be immediately due and payable. 

(c) If any Event of Default described in Section 11(a), (b) or (c) has occurred and is continuing, any holder or holders of Senior
Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Senior Notes held by it or them to be immediately due and payable. 

(d) The Subordinate Notes may be declared to be due and payable by the holders thereof in the manner set forth in the related Supplemental
NPA pursuant to which such Subordinate Notes are issued, subject in any event to the Subordination Agreement applicable to such Subordinate Notes. 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith
mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including interest accrued thereon at the Default Rate) and (y) the Make-Whole Amount, if any, determined in respect of such
principal amount, shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. Each Obligor acknowledges, and the parties hereto agree, that each holder of a
Note has the right to maintain its investment in the Notes free from repayment by any Obligor (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount, if any, by the Company in the event that the Notes
are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances. 

Section 12.2 Other Remedies. If any Default or Event of Default has occurred and is continuing, and irrespective of whether any
Notes have become or have been declared immediately due and payable under Section 12.1, subject to the Intercreditor Agreement, the First Lien Collateral Agent or the holder of any Note at the time outstanding may proceed to protect and enforce
the rights of such holder by an action at law, suit in equity or other appropriate proceeding, 

  
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 whether for the specific performance of any agreement contained herein or in any Note or any other Note
Document, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise, including all rights and remedies set forth in the other Note
Documents; provided that the right of any holder of a Subordinate Note under this Section 12.2 shall be subject to the applicable Subordination Agreement. 

Section 12.3 Rescission. 

(a) At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the Required Holders, by written
notice to the Company, may rescind and annul any such declaration and its consequences including pursuant to Section 13.2(d) (other than with respect to a Subordinate Note Event of Default) if (i) the Obligors have paid all overdue
interest on the Senior Notes, all principal of and Make-Whole Amount, if any, on any Senior Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if
any, and (to the extent permitted by applicable law) any overdue interest in respect of the Senior Notes, at the Default Rate, (ii) neither any Obligors nor any other Person shall have paid any amounts which have become due solely by reason of
such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to
Section 18, and (iv) no judgment or decree has been entered for the payment of any monies due pursuant hereto, pursuant to any other Note Document or pursuant to the Senior Notes. No rescission and annulment under this Section 12.3(a)
will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon. 
 (b) Upon the occurrence and
during the continuance of a Subordinate Note Event of Default, provided that the Required Holders and the Required Holders of Subordinate Notes have notified all other holders and the Company to such effect, such Subordinate Note Event of Default
shall be waived upon the terms and conditions as the Required Holders and the Required Holders of Subordinate Notes may prescribe. No rescission and annulment under this Section 12.3(b) will extend to or affect any subsequent Subordinate Note
Event of Default. 
 Section 12.4 No Waivers or Election of Remedies, Expenses, Etc. No course of dealing and no delay on the
part of the First Lien Collateral Agent or any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by
this Agreement, any Note or any other Note Document upon any holder of a Note shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without
limiting the obligations of the Obligors under Section 16, the Obligors, jointly and severally, will pay to the First Lien Collateral Agent, the Depositary Bank and the holder of each Note on demand such further amount as shall be sufficient to
cover all costs and expenses of such Person incurred in any enforcement or collection under this Section 12, including reasonable attorneys’ fees, expenses and disbursements. 

  
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 Section 12.5 Default Rate. During the period that an Event of Default shall have
occurred and be continuing, interest on the outstanding principal amount of all Notes shall accrue at the applicable Default Rate. 
  

	SECTION	 13. GUARANTEE, ETC. 

Section 13.1 Guarantee. The Guarantors hereby jointly and severally guarantee to each holder of any Senior Note or Senior Notes at
any time outstanding and of any Subordinate Note or Subordinate Notes at any time outstanding the prompt payment in full, in Dollars, when due (whether at stated maturity, by acceleration, by mandatory or optional prepayment or otherwise) of the
principal of and Make-Whole Amount, if any, and interest on the Senior Notes and Subordinate Notes (including interest on any overdue principal and Make-Whole Amount, if any and including amounts that would become due but for the existence of a
proceeding under bankruptcy or insolvency law involving any Obligor) and all other amounts from time to time owing by the Company under this Agreement and the other Financing Documents to any holder (including costs, expenses and Taxes described in
Section 4.1(g)) (such payments being herein collectively called the “Guaranteed Obligations”). The Guarantors hereby further jointly and severally agree that if the Company shall default in the payment of any of the Guaranteed
Obligations (after giving effect to all applicable grace and cure periods), the Guarantors will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the
Guaranteed Obligations, the same will be promptly paid in full in cash when due (whether at extended maturity, by acceleration, by mandatory or optional prepayment or otherwise) in accordance with the terms of such extension or renewal. All
obligations of the Guarantors under this Section 13 shall survive the transfer of any Senior Note or Subordinate Note, and any obligations of the Guarantors under this Section 13 with respect to which the underlying obligation of the
Company is expressly stated to survive payment of any Senior Note or Subordinate Note shall also survive payment of such Senior Note or Subordinate Note. 

Section 13.2 Obligations Unconditional. 

(a) The obligations of the Guarantors under Section 13.1 constitute a present and continuing guaranty of payment when due and not
collectability and are absolute, unconditional and irrevocable, irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Company under this Agreement, the other Note Documents or any other agreement or
instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, to the fullest extent permitted by Applicable Law, irrespective of any other
circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, other than the payment in full of the Guaranteed Obligations. Without limiting the generality of the foregoing, it is agreed
that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which shall remain absolute and unconditional as described above: 

(i) any amendment, supplement or modification of any provision of this Agreement, the other Note Documents or any assignment
or transfer thereof, including the renewal or extension of the time of payment of any of the Notes or the granting of time in respect of such payment thereof, or of any furnishing or acceptance of security or any additional guarantee or any release
of any security or guarantee so furnished or accepted for any of the Notes, or the issuance of any Additional Senior Notes or Subordinate Notes; 

  
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 (ii) any waiver, consent, extension, granting of time, forbearance,
indulgence or other action or inaction under or in respect of this Agreement or the other Note Documents, or any exercise or non-exercise of any right, remedy or power in respect hereof or thereof; 

(iii) any Lien or security interest granted to, or in favor of, any other holder of a Note as security for any of the
Guaranteed Obligations shall fail to be perfected; 
 (iv) any bankruptcy, receivership, insolvency, reorganization,
arrangement, readjustment, composition, liquidation or similar proceedings with respect to the Company or any other Person or the properties or creditors of any of them; 

(v) the occurrence of any Default or Event of Default under, or any invalidity or any unenforceability of, or any
misrepresentation, irregularity or other defect in, this Agreement, the other Note Documents or any other agreement; 
 (vi)
any transfer of any assets to or from the Company, including any transfer or purported transfer to the Company from any Person, any invalidity, illegality of, or inability to enforce, any such transfer or purported transfer, any consolidation or
merger of the Company with or into any Person, any change in the ownership of any Equity Interests of the Company, or any change whatsoever in the objects, capital structure, constitution or business of the Company; 

(vii) any default, failure or delay, willful or otherwise, on the part of the Company or any other Person to perform or comply
with, or the impossibility or illegality of performance by the Company or any other Person of, any term of this Agreement, the other Financing Documents or any other agreement; 

(viii) any suit or other action brought by, or any judgment in favor of, any beneficiaries or creditors of, the Company or any
other Person for any reason whatsoever, including any suit or action in any way attacking or involving any issue, matter or thing in respect of this Agreement, the other Financing Documents or any other agreement; 

(ix) any lack or limitation of status or of power, incapacity or disability of the Company or any trustee or agent thereof; or

  
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 (x) any other thing, event, happening, matter, circumstance or condition
whatsoever (other than the payment in full of the Guaranteed Obligations), not in any way limited to the foregoing. 
 (b) The Guarantors
hereby unconditionally waive diligence, presentment, demand of payment, protest and all notices whatsoever and any requirement that any holder of a Senior Note or Subordinate Note exhaust any right, power or remedy against any Obligor under this
Agreement, the other Note Documents or any other agreement or instrument referred to herein or therein, or against any other Person under any other guarantee of, or security for, any of the Guaranteed Obligations. 

(c) In the event that the Guarantors shall at any time pay any amount on account of the Guaranteed Obligations or take any other action in
performance of their obligations hereunder, the Guarantors shall not exercise any subrogation or other rights hereunder or under the Senior Notes or Subordinate Notes and each Guarantor hereby waives all rights it may have to exercise any such
subrogation or other rights, and all other remedies that it may have against the Company, in respect of any payment made hereunder unless and until the Guaranteed Obligations shall have been paid in full in cash. If any amount shall be paid to the
Guarantors on account of any such subrogation rights or other remedy, notwithstanding the waiver thereof, such amount shall be received in trust for the benefit of the holders of the Senior Notes or Subordinate Notes and shall forthwith be paid to
such holders to be credited and applied upon the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms hereof. Each Guarantor agrees (i) that its obligations under this Section 13 shall be automatically
reinstated if and to the extent that for any reason any payment (including payment in full) by or on behalf of the Company is rescinded or must be otherwise restored by any holder of a Senior Note or Subordinate Note, whether as a result of any
proceedings in bankruptcy or reorganization or otherwise, all as though such amount had not been paid and (ii) that it will indemnify each holder of a Note on demand for all reasonable costs and expenses (including fees of counsel) incurred by
such Person in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any
bankruptcy, insolvency or similar law. 
 (d) If an event permitting the acceleration of the maturity of the principal amount of the Senior
Notes or Subordinate Notes shall at any time have occurred and be continuing and such acceleration (and the effect thereof on the Guaranteed Obligations) shall at such time be prevented by reason of the pendency against the Company or any other
Person of a case or proceeding under a bankruptcy or insolvency law, each Guarantor agrees that, for purposes of the guarantee in this Section 13 and such Guarantor’s obligations under this Agreement, the maturity of the principal amount
of the Senior Notes or Subordinate Notes, as applicable, shall be deemed to have been accelerated (with a corresponding effect on the Guaranteed Obligations) with the same effect as if the holders of the Senior Notes or Subordinate Notes had
accelerated the same in accordance with the terms of this Agreement, and the Guarantors shall forthwith pay such principal amount, any interest thereon, any Make-Whole Amount and any other amounts guaranteed hereunder without further notice or
demand. 

  
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 (e) The guarantee in this Section 13 is a continuing guarantee and shall apply to the
Guaranteed Obligations whenever arising. Each default in the payment or performance of any of the Guaranteed Obligations shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the
case may be, hereunder as each such default occurs. 
 Section 13.3 Instrument for the Payment of Money. Each Guarantor hereby
acknowledges that the guarantee in this Section 13 constitutes an instrument for the payment of money, and consents and agrees that any holder of a Note or the First Lien Collateral Agent, at its sole option, in the event of a dispute by such
Guarantor in the payment of any moneys due hereunder, shall have the right to proceed by motion for summary judgment in lieu of complaint pursuant to N.Y. Civ. Prac. L&R § 3213. 

Section 13.4 General Limitation on Guarantee Obligations. In any action or proceeding involving any state or provincial corporate
law, or any foreign, state, provincial or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Guarantor under Section 13.1 would otherwise be held or determined to
be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 13.1, then, notwithstanding any other provision hereof to the contrary, the amount of such
liability shall, without any further action by such Guarantor, any holder of a Note, the First Lien Collateral Agent or any other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated
to the claims of other creditors as determined in such action or proceeding. 
 Section 13.5 Discharge of Guaranty Upon Sale of
Guarantor. If all of the outstanding 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 and in a manner permitted by
the terms and conditions of the Note Documents, 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 the First Lien Collateral Agent,
any Secured Party or any other Person, effective as of the time of such sale or disposition. 
 Section 13.6 Additional
Guarantors. Upon (a) the formation or acquisition by the Company or any other Obligor of any new direct or indirect Subsidiary after the date of the Closing that owns directly or indirectly 100% of the Equity Interests in a Portfolio
Company or assets that would reasonably be expected to be Material or (b) the guarantee by any Person, including any Subsidiary of the Company, of any Permitted Senior Secured Indebtedness or the SubordinateNotes, the Company shall, at the
Company’s expense within 10 days after such formation or acquisition or the giving of such guarantee cause such Subsidiary (or, in the case of clause (b), such Person) to duly execute and deliver (i) to the First Lien Collateral Agent and
each holder of one or more Notes, a Joinder Agreement or such other documentation reasonably acceptable to the Required Holders to become a Guarantor pursuant to this Agreement, and (ii) to the First Lien Collateral Agent, a “Security
Agreement Supplement” (as defined in the First Lien Pledge and Security Agreement), or such other documentation reasonably acceptable to the First Lien Collateral Agent to become a “Grantor” (as defined in the First Lien Pledge and
Security Agreement) pursuant to the First Lien Pledge and Security Agreement. 

  
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 Section 13.7 Subordinate Notes. The Subordinate Notes shall be subordinated to
the payment of the Senior Notes on terms set forth in the applicable Subordination Agreement and the guarantee under this Section 13 of any Subordinate Notes shall be subject to the terms of such Subordination Agreement, mutatis
mutandis. 
  

	SECTION	 14. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 

Section 14.1 Registration of Notes. The Notes Agent, on behalf of the Company, shall keep at its office specified in
Section 15.6, a register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be
registered in such register. If any holder of one or more Notes is a nominee, then (a) the name and address of the beneficial owner of such Note or Notes shall also be registered in such register as an owner and holder thereof and (b) at
any such beneficial owner’s option, either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to this Agreement. Prior to due presentment for registration of transfer, the Person in whose name any Note
shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and no Obligor shall be affected by any notice or knowledge to the contrary. The Notes Agent, on behalf of the Company, shall give to
(i) any holder of a Note that is an Institutional Investor and (ii) the First Lien Collateral Agent promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes and including the
aggregate outstanding principal amount of all Senior Note Obligations (as defined in the Intercreditor Agreement) held by such registered holders of Notes at such time. 

Section 14.2 Transfer and Exchange of Notes. Upon surrender of any Note to the Notes Agent at the address specified in
Section 15.6, for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s
attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof and any other information or documentation the Notes Agent may reasonably request),
within 10 Business Days thereafter, the Company shall execute and deliver, at the Company’s expense (except as provided below), one or more new Notes of the same Series (as requested by the holder thereof) in exchange therefor, in an aggregate
principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit
B-1 in the case of the Initial Notes, or of the Note form established for the applicable Series. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the
surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp Tax or governmental charge imposed in respect of any such transfer of
Notes. Notes shall not be transferred in denominations of less than $500,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes of a Series, one Note of such Series may be in a
denomination of less than $500,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2. 

Section 14.3 Replacement of Notes. Upon receipt by the Notes Agent at the address specified in Section 15.6 of evidence
reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and such loss,
theft, destruction or mutilation), and 

  
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 (a) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the
Company and the Notes Agent (provided that if the holder of such Note is, or is a nominee for, an Initial Purchaser or another holder of a Note with a minimum net worth of at least $50,000,000 or a Qualified Institutional Buyer, such
Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), or 
 (b) in the case of mutilation, upon surrender
and cancellation thereof and receipt of indemnity reasonably satisfactory to the Company and the Notes Agent (provided that if the holder of such Note is, or is a nominee for, an Initial Purchaser or another holder of a Note with a minimum
net worth of at least $50,000,000 or a Qualified Institutional Buyer, such Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), 

within 10 Business Days thereafter, the Notes Agent shall request that the Company, and the Company shall (at its own expense), execute and deliver, in lieu
thereof, a replacement Note of the same Series, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if
no interest shall have been paid thereon. 
  
 SECTION15. PAYMENTS ON NOTES;
APPOINTMENT OF FIRST LIEN COLLATERAL AGENT. 
 Section 15.1 Place of Payment. Subject to Section 15.2, payments of
principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in New York, New York at the principal office of the Depositary Bank in such jurisdiction. The Company may at any time, by notice to each holder
of a Note, change the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 

Section 15.2 Payment by Wire Transfer. So long as any Purchaser or its nominee shall be the holder of any Note, and
notwithstanding anything contained in Section 15.1 or in such Note to the contrary, the Company (or the Notes Agent, on its behalf) will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, interest and all other
amounts becoming due hereunder by the method and at the address specified for such purpose below such Purchaser’s name in the Purchaser Schedule or the applicable Supplemental NPA, or by such other method or at such other address as such
Purchaser shall have from time to time specified to the Company and the Notes Agent in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the
Company or the Notes Agent made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Notes Agent at
the address specified in Section 19(v). Prior to any sale or other disposition of any Note held by a Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date
to which interest has been paid thereon or surrender such Note to the Notes Agent in exchange for a new Note or Notes pursuant to Section 14.2. The Company will afford the benefits of this Section 15.2 to any Institutional Investor that is
the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 15.2. 

  
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 Section 15.3 Tax Information. By acceptance of any Note, the holder of such Note
agrees that such holder will upon such acceptance of a Note and from time to time thereafter with reasonable promptness duly complete and deliver to the Company and the Notes Agent, or to such other Person as may be reasonably requested by the
Company or the Notes Agent, (a) in the case of any such holder that is a United States Person, an executed Internal Revenue Service (“IRS”) Form W-9 (or any successor thereto, including
appropriate attachments) establishing such holder’s status as a United States Person and exemption from U.S. backup withholding and (b) in the case of any such holder that is not a United States Person, an executed IRS Form W-8BEN-E (or other applicable IRS Form W-8 or any successor thereto, including appropriate attachments), in each case, any other such
documentation prescribed by applicable law (including as prescribed by section 1471(b)(3)(C)(i) of the Code) as may be necessary for the Obligors and such other Person to comply with their obligations under FATCA or to determine the amount of Taxes
(if any) to deduct and withhold from any such payment made to such holder (including any Taxes imposed under section 1441 or 1442 of the Code (or any successor provisions) and backup withholding) or otherwise comply with applicable tax laws. Each
holder of a Note shall as soon as reasonably practicable notify the Company and the Notes Agent if any form or documentation previously delivered by such holder expires or becomes obsolete or inaccurate in any respect, and shall duly complete and
deliver to the Company, the Notes Agent or such other Person an updated form or documentation upon such event. Nothing in this Section 15.3 shall require any holder to provide information that is confidential or proprietary to such holder
unless the Company, the Notes Agent or such other Person is required to obtain such information under FATCA or to determine the amount of Taxes (if any) to deduct and withhold from any payment made to such holder or otherwise comply with applicable
tax laws and, in such event, the Company and the Notes Agent shall treat (and the Company shall cause the Obligors and such other Person to treat) any such information it receives as confidential except as required by applicable law. The Purchasers
shall provide to the First Lien Collateral Agent and the Notes Agent or their respective agents all information, documentation or certifications reasonably requested by the First Lien Collateral Agent or the Notes Agent to permit the First Lien
Collateral Agent and the Notes Agent to comply with their tax reporting obligations under Applicable Law, including any applicable cost basis reporting obligations. For purposes of this Section 15.3, the term “holder” shall include
any beneficial owner of a Note to the extent such person is deemed to be a beneficial owner for purposes of the applicable IRS forms referenced herein. 

Section 15.4 Appointment. Each Purchaser hereby irrevocably designates and appoints MUFG Union Bank, N.A., as the First Lien
Collateral Agent under this Agreement, the Intercreditor Agreement and the First Lien Security Documents and irrevocably authorizes and directs MUFG Union Bank, N.A., in the capacity of First Lien Collateral Agent, for the benefit of the Secured
Parties, to (a) execute, deliver and perform the obligations, if any, of the First Lien Collateral Agent under this Agreement, the Intercreditor Agreement, each First Lien Security Document and any ancillary documents delivered in connection
herewith or therewith, (b) take such action on its behalf under the provisions of this Agreement, the Intercreditor Agreement, each First Lien Security Document and such ancillary documents and (c) exercise such powers and perform such
duties as are expressly delegated to the First Lien Collateral Agent by the terms of 

  
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this Agreement, the Intercreditor Agreement, each First Lien Security Document and such ancillary documents together with such other powers as are reasonably incidental thereto. Notwithstanding
any provision to the contrary elsewhere in this Agreement or the Intercreditor Agreement, the First Lien Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein, in the Intercreditor Agreement, in the
First Lien Security Documents and in such ancillary documents delivered in connection herewith or therewith, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement, the
Intercreditor Agreement, any First Lien Security Document or such ancillary documents, or otherwise exist against the First Lien Collateral Agent. Except as set forth in Section 1.4, Section 12.3(b) and the Intercreditor Agreement, the
holders of the Subordinate Notes will have no rights to direct the First Lien Collateral Agent at any time to waive an Event of Default, take any Act of Required Secured Parties (as defined in the Intercreditor Agreement) or exercise any rights or
remedies with respect to the Collateral in respect of such Event of Default, and the holders of the Subordinate Notes will be bound in all respects by any decisions made or actions taken by the holders of the Senior Notes then outstanding or by the
First Lien Collateral Agent at the direction of such holders of the Senior Notes. 
 Section 15.5 Incorporation by Reference.
The provisions of Article VII of the Intercreditor Agreement are incorporated herein mutatis mutandis. Each of the parties hereto agrees that each Purchaser may exercise those rights and shall perform those obligations applicable to a Secured
Party set forth in the Intercreditor Agreement. 
 Section 15.6 Appointment of Notes Agent. The Company hereby notifies the
Initial Purchasers and all future holders of any Notes that it has appointed MUFG Union Bank, N.A., acting through its office at 1251 Avenue of the Americas, 19th Floor, New York, NY 10020, Attention: Marion Zinowski, as the registrar, paying agent,
transfer agent and information delivery agent in respect of the Notes (together with its successors and assigns collectively in such capacities, the “Notes Agent”). For the avoidance of doubt, the Notes Agent is acting as an agent,
and not a fiduciary, of the Company hereunder, and is not acting as agent or fiduciary for any Purchaser or any holder of a Note. Notwithstanding anything herein to the contrary, the Notes Agent shall be afforded all of the rights, privileges,
protections, powers, immunities, benefits and indemnities of the Notes Agent set forth in the Paying Agent Agreement, as if such rights, privileges, protections, powers, immunities, benefits and indemnities were specifically set forth herein,
mutatis mutandis. 
  

	SECTION	 16. EXPENSES, ETC. 

Section 16.1 Transaction Expenses. Whether or not the transactions contemplated hereby are consummated, the Obligors will, jointly
and severally, pay all costs and expenses (including reasonable attorneys’ fees of one special counsel for all holders of the Senior Notes and separate special counsel for the holders of any Subordinate Notes and, if reasonably required by the
Required Holders, one local counsel in each relevant jurisdiction for all of the holders of the Senior Notes and separate special counsel in each such jurisdiction for the holders of any Subordinate Notes) incurred by the First Lien Collateral Agent
and its Affiliates, the Purchasers and each other holder of a Note in connection with such transactions and in connection with the administration of this Agreement and the other Note Documents or any Supplemental NPAs, amendments, waivers or
consents under or in respect of this Agreement, the Notes or any other 

  
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Note Document (whether or not such amendment, waiver or consent becomes effective), including: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to
enforce or defend) any rights under this Agreement, the Notes or any other Note Document or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement, the Notes or any other Note
Document, or by reason of being a holder of any Note, (b) the costs and expenses, including the fees of one financial advisors for all holders of the Senior Notes and separate financial advisor for the holders of any Subordinate Notes, incurred
in connection with the insolvency or bankruptcy of any Obligor or any Subsidiary thereof or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes or any
other Note Document and (c) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO. If required by the NAIC, the Company shall obtain and maintain
at its own cost and expense a Legal Entity Identifier (LEI). 
 The Obligors, jointly and severally, will pay, and will save the First Lien
Collateral Agent and its Affiliates, each Purchaser and each other holder of a Note harmless from, (i) all claims in respect of any fees, costs or expenses, if any, of brokers and finders (other than those, if any, retained by a Purchaser or
other holder in connection with its purchase of the Notes), (ii) any and all wire transfer fees that any bank or other financial institution deducts from any payment under such Note to such holder or otherwise charges to a holder of a Note with
respect to a payment under such Note and (iii) any judgment, liability, claim, order, decree, fine, penalty, cost, fee, expense (including reasonable attorneys’ fees and expenses) or obligation resulting from the consummation of the
transactions contemplated hereby, including the use of the proceeds of the Notes by the Company. 
 Section 16.2 Certain Taxes.
The Obligors agree, jointly and severally, to pay all recording, documentary, filing, intangible, stamp or other similar Taxes and other fees which may be payable in respect of the execution and delivery or the enforcement of this Agreement or any
other Note Document or the execution and delivery (but not the transfer) or the enforcement of any of the Notes in the United States or any other jurisdiction where any Obligor has assets or of any amendment of, or waiver or consent under or with
respect to, this Agreement or any other Note Document or of any of the Notes, and to pay any value added Tax due and payable in respect of reimbursement of costs and expenses by the Obligors pursuant to this Section 16, and will save each
holder of a Note to the extent permitted by applicable law harmless against any loss or liability resulting from nonpayment or delay in payment of any such Tax or fee required to be paid by the Obligors hereunder. 

Section 16.3 Survival. The obligations of the Obligors under this Section 16 will survive the payment or transfer of any
Note, the enforcement, amendment or waiver of any provision of this Agreement, any other Note Documents or the Notes, and the termination of this Agreement. 

  
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	SECTION	 17. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

All representations and warranties contained herein, in the other Note Documents and in any certificate or other instrument delivered in
connection with or pursuant to this Agreement or the other Note Documents shall survive the execution and delivery of this Agreement, the Notes and the other Note Documents, the purchase or transfer by any Purchaser of any Note or portion thereof or
interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Purchaser or any other holder of a Note. All statements contained in
any certificate or other instrument delivered by or on behalf of any Obligor pursuant to this Agreement or any other Note Document shall be deemed representations and warranties of such Obligor under this Agreement. Subject to the preceding
sentence, this Agreement, the Notes and any other Note Document embody the entire agreement and understanding between each Purchaser and the Obligors and supersede all prior agreements and understandings relating to the subject matter hereof. 

 

	SECTION	 18. AMENDMENT AND WAIVER. 

Section 18.1 Requirements. Subject to the terms of the Intercreditor Agreement, this Agreement, the Notes and the other Note
Documents may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), only with the written consent of the Obligors and the Required Holders, except that: 

(a) no amendment or waiver of any of Sections 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be effective as
to any Purchaser unless consented to by such Purchaser in writing; 
 (b) no amendment or waiver may, without the written consent of the
holder of each Note at the time outstanding, (i) subject to Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or
method of computation of (x) interest on the Notes or (y) the Make-Whole Amount, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any amendment or waiver, (iii) amend
any of Sections 8, 11(a), 11(b), 11(c), 12, 17, 18 or 20, (iv) release any material portion of the Collateral except in connection with a Permitted Asset Sale permitted under the Note Documents or (v) release any Guarantor except in connection
with a Permitted Asset Sale permitted under the Note Documents; and 
 (c) no amendment or waiver may, without the written consent of the
First Lien Collateral Agent or the Notes Agent, amend, modify, terminate or waive any provision of Section 15.4, 15.5 or any other provision of this Agreement that affects the rights or obligations of the First Lien Collateral Agent or the
Notes Agent, as applicable. 
 Section 18.2 Solicitation of Holders of Notes. 

(a) Solicitation. The Company will provide each holder of a Note with sufficient information, sufficiently far in advance of the date
a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof or of the Notes or any other Note Document. The Company
will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to this Section 18 or any other Note Document to each holder of a Note promptly following the date on which it is executed and delivered by,
or receives the consent or approval of, the requisite holders of Notes. 

  
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 (b) Payment. No Obligor will directly or indirectly pay or cause to be paid any
remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of a Note as consideration for or as an inducement to the entering into by such holder of any
waiver or amendment of any of the terms and provisions hereof or any other Note Document or of any Note unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same
terms, ratably to each holder of a Note even if such holder did not consent to such waiver or amendment. 
 (c) Consent in Contemplation
of Transfer. Any consent given pursuant to this Section 18 or any other Note Document by a holder of a Note that has transferred or has agreed to transfer its Note to (i) the Company, (ii) any Subsidiary or any other Affiliate of
the Company or (iii) any other Person in connection with, or in anticipation of, such other Person acquiring, making a tender offer for or merging with the Company and/or any of its Affiliates, in each case in connection with such consent shall
be void and of no force or effect except solely as to such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of
all other holders of Notes that were acquired under the same or similar conditions) shall be void and of no force or effect except solely as to such holder. 

Section 18.3 Binding Effect, Etc. Any amendment or waiver consented to as provided in this Section 18 or any other Note
Document applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Obligors without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or
waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between an Obligor and any holder of a Note and no delay in
exercising any rights hereunder or under any Note or any other Note Document shall operate as a waiver of any rights of any holder of such Note. 

Section 18.4 Notes Held by Company, Etc. Solely for the purpose of determining whether the holders of the requisite percentage of
the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement, any other Note Document or the Notes, or have directed the taking of any action provided herein or
in or any other Note Document or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company or any of its
Affiliates shall be deemed not to be outstanding. 
  

	SECTION	 19. NOTICES. 

Except to the extent otherwise provided in Section 7.4, all notices and communications provided for hereunder shall be in writing and sent
(a) by telecopy if the sender on the same day sends a confirming copy of such notice by an internationally recognized overnight delivery service (charges prepaid), (b) by registered or certified mail with return receipt requested (postage
prepaid), (c) by an internationally recognized overnight delivery service (charges prepaid) or (d) via email in “.pdf” format. Any such notice must be sent: 

(i) if to any Initial Purchaser or its nominee, to such Initial Purchaser or nominee at the address specified for such
communications in the Purchaser Schedule, or at such other address as such Initial Purchaser or nominee shall have specified to the Obligors, the Notes Agent and the First Lien Collateral Agent in writing; 

  
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 (ii) if to any other holder of any Note, to such holder at such address as
such other holder shall have specified to the Obligors, the Notes Agent and the First Lien Collateral Agent in writing; 

(iii) if to any Purchaser (other than an Initial Purchaser) or its nominee, to such Purchaser or nominee at the address
specified for such communication in the Supplemental NPA to which such Purchaser is a party, or at such other address as such Purchaser or nominee shall have specified to the Obligors, the Notes Agent and the First Lien Collateral Agent in writing;

 (iv) if to the First Lien Collateral Agent, to the First Lien Collateral Agent at the address specified for delivery of
notices to the First Lien Collateral Agent in Section 9.10 of the Intercreditor Agreement, or at such other address as the First Lien Collateral Agent shall have specified to the holder of each Note, the Notes Agent and the Obligors in writing;

 (v) if to the Notes Agent, to the Notes Agent at 1251 Avenue of the Americas, 19th Floor, New York, NY 10020, Attention:
Marion Zinowski, or at such other address as the Notes Agent shall have specified to the holder of each Note, the First Lien Collateral Agent and the Obligors in writing; or 

(vi) if to any Obligor, to such Obligor at c/o Goldman Sachs Renewable Power LLC, Attn: Jon Yoder, 200 West Street, 3rd Floor,
New York, NY 10282, with a copy to Goldman Sachs Asset Management, L.P., Attn: Legal Department, 200 West Street, 15th Floor, New York, NY 10282, or at such other address as the Company shall have specified to the holder of each Note, the Notes
Agent and the First Lien Collateral Agent in writing. 
 Notices under this Section 19 will be deemed given only when actually
received. 
  

	SECTION	 20. REPRODUCTION OF DOCUMENTS. 

This Agreement, each other Note Document and all documents relating thereto, including (a) consents, waivers and modifications that may
hereafter be executed, (b) documents received by any Initial Purchaser at the Closing (except the Initial Notes themselves), (c) documents (except any Additional Senior Notes or Subordinate Notes themselves) received by any holder in connection
with the issuance of any Series of Notes after the date hereof and (d) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be reproduced by such Purchaser by any photographic,
photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so reproduced. The Obligors agree and stipulate that, to the extent permitted by applicable law, any such reproduction shall be
admissible in evidence as the original itself in any judicial or administrative proceeding 

  
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(whether or not the original is in existence and whether or not such reproduction was made by such Purchaser in the regular course of business) and any enlargement, facsimile or further
reproduction of such reproduction shall likewise be admissible in evidence. This Section 20 shall not prohibit any Obligor or any other holder of Notes from contesting any such reproduction to the same extent that it could contest the original,
or from introducing evidence to demonstrate the inaccuracy of any such reproduction. 
  

	SECTION	 21. CONFIDENTIAL INFORMATION. 

For the purposes of this Section 21, “Confidential Information” means information delivered to any Purchaser by or on
behalf of any Obligor or any Subsidiary thereof in connection with the transactions contemplated by or otherwise pursuant to this Agreement and the other Note Documents that is proprietary in nature and (i) that was clearly marked or labeled or
otherwise adequately identified when received by such Purchaser as being confidential information of such Obligor or such Subsidiary or (ii) that a reasonable person would expect to be treated as confidential under the circumstances of its
disclosure, provided that such term does not include information that (a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or
omission by such Purchaser or any Person acting on such Purchaser’s behalf, (c) otherwise becomes known to such Purchaser other than through disclosure by any Obligor or any Subsidiary thereof or (d) constitutes financial statements
delivered to such Purchaser under Section 7.1 that are otherwise publicly available. Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to
protect confidential information of third parties delivered to such Purchaser, and agrees to, to the extent not prohibited by applicable law from doing so, give the Company prompt written notice of any unauthorized use or disclosure of the
Confidential Information, and assist the Company in remedying any such unauthorized use or disclosure, provided that such Purchaser may deliver or disclose Confidential Information to (i) its directors, officers, employees, agents,
attorneys, trustees and affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by its Notes), (ii) its auditors, financial advisors and other professional advisors and investors in any
Related Fund that hold a beneficial interest in the Notes, in all cases, who agree to hold confidential the Confidential Information substantially in accordance with this Section 21, (iii) any other holder of any Note, the Notes Agent, any
other Secured Party or the First Lien Collateral Agent, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of
such Confidential Information to be bound by this Section 21), (v) any Person from which it offers to purchase any Security of any Obligor (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound
by this Section 21), (vi) any federal, state or provincial regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar organization, or any nationally recognized rating agency that
requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w) to effect compliance with any law, rule, regulation or
order applicable to such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a party or (z) if an Event of Default has occurred and is continuing, to the
extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under such Purchaser’s Notes, this Agreement or any other Note

  
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Document and, in the event Confidential Information is so required to be disclosed pursuant to the foregoing, the applicable Purchaser agrees to disclose such required Confidential Information to
the minimum extent required and (other than at the request of a regulatory authority, governmental agency or pursuant to a broad based subpoena or similar discovery process, in each case, not directly related to any Obligor or the transactions
contemplated hereby), such Purchaser shall provide the Company with prompt written notice (unless such notification shall be prohibited by applicable law or legal process) of such permitted disclosure. To the extent that any breach of terms of this
Section 21 occurs, the Purchaser that has breached this Section 21 agrees to use commercially reasonable efforts to assist the Company in restricting or preventing such further breaches. Each holder of a Note, by its acceptance of a Note,
will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 21 as though it were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of
information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying this
Section 21. 
 In the event that as a condition to receiving access to information relating to any Obligor or its Subsidiaries in
connection with the transactions contemplated by or otherwise pursuant to this Agreement or any other Note Document, any Purchaser or holder of a Note is required to agree to a confidentiality undertaking (whether through IntraLinks, another secure
website, a secure virtual workspace or otherwise) which is different from this Section 21, this Section 21 shall not be amended thereby and, as between such Purchaser or such holder and the Obligors, this Section 21 shall supersede
any such other confidentiality undertaking. 
 Each Purchaser agrees that money damages may be both incalculable and an insufficient remedy
for breach of the terms of this Section 21, and that in addition to all other remedies available at law or in equity, in the event of any breach of the terms of this Section 21, the Company shall be entitled to seek equitable relief,
including injunction and specific performance, without proof of actual damages and/or the requirement of posting a bond or other security. Each Purchaser agrees to be responsible to the Company for any damage, loss, cost or liability (including
reasonable and documented legal fees and the cost of enforcing this agreement) arising out of or resulting from any breach of the terms of this Section 21 by such Purchaser that is determined by a court or other arbiter of competent
jurisdiction in a final, non-appealable order. 
  

	SECTION	 22. SUBSTITUTION OF PURCHASER. 

Each Initial Purchaser shall have the right to substitute any one of its Affiliates or another Initial Purchaser or any one of such other
Initial Purchaser’s Affiliates (a “Substitute Purchaser”) as the purchaser of the Initial Notes that it has agreed to purchase hereunder, by written notice to the Company and the Notes Agent, which notice (a) shall be
signed by both such Initial Purchaser and such Substitute Purchaser, (b) shall contain such Substitute Purchaser’s agreement to be bound by this Agreement and the other Note Documents and (c) shall contain a confirmation by such
Substitute Purchaser of the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to such Initial Purchaser in this Agreement (other than in this Section 22), shall be deemed
to refer to such Substitute Purchaser in lieu of such original Initial Purchaser. In the event that such Substitute Purchaser is so substituted as an Initial Purchaser hereunder and such Substitute Purchaser thereafter transfers to such original
Initial 

  
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Purchaser all of the Initial Notes then held by such Substitute Purchaser, upon receipt by the Company and the Notes Agent of notice of such transfer, any reference to such Substitute Purchaser
as a “Purchaser” in this Agreement (other than in this Section 22), shall no longer be deemed to refer to such Substitute Purchaser, but shall refer to such original Initial Purchaser, and such original Initial Purchaser shall again
have all the rights of an original holder of the Initial Notes under this Agreement and the other Note Documents. 
  

	SECTION	 23. MISCELLANEOUS. 

Section 23.1 Successors and Assigns. All covenants and other agreements contained in this Agreement by or on behalf of any of the
parties hereto bind and inure to the benefit of their respective successors and assigns (including any subsequent holder of a Note) whether so expressed or not, except that, subject to Section 10.2, no Obligor may assign or otherwise transfer
any of its rights or obligations hereunder or under the Notes without the prior written consent of each holder. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto and their
respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

Section 23.2 Accounting Terms. All accounting terms used herein which are not expressly defined in this Agreement have the
meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance with GAAP, and (ii) all financial statements
shall be prepared in accordance with GAAP, subject in the case of unaudited financial statements, to the absence of footnotes and year-end adjustments. For purposes of determining compliance with this
Agreement (including Section 9, Section 10 and the definition of “Indebtedness”), any election by the Company to measure any financial liability using fair value (as permitted by Financial Accounting Standards Board Accounting
Standards Codification Topic No. 825-10-25 – Fair Value Option, International Accounting Standard 39 – Financial Instruments: Recognition and
Measurement or any similar accounting standard) shall be disregarded and such determination shall be made as if such election had not been made. 

Section 23.3 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by
law) not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 23.4 Construction, Etc. 

(a) Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant
contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which
such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 

  
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 (b) Defined terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase
“without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (i) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or
modifications set forth herein) and, for purposes of the Notes, shall also include any such notes issued in substitution therefor pursuant to Section 14, (ii) subject to Section 23.1, any reference herein to any Person shall be construed
to include such Person’s successors and assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any
particular provision hereof, (iv) all references herein to Sections, Exhibits and Schedules shall be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, and (v) any reference to any law or regulation herein
shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. 
 (c) For all
purposes under the Financing Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (i) if any asset, right, obligation or liability of any Person
becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (ii) if any new Person comes into existence, such new Person shall
be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time. 

Section 23.5 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original but
all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of an executed counterpart of a signature
page of this Agreement or any document or instrument delivered in connection herewith (other than any Note) by telecopy or “.pdf” shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or
instrument, as applicable. 
 Section 23.6 Governing Law. This Agreement shall be construed and enforced in accordance with, and
the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the
application of the laws of a jurisdiction other than such State. 
 Section 23.7 Jurisdiction and Process; Waiver of Jury Trial.

 (a) Each Obligor irrevocably submits to the non-exclusive jurisdiction of any New York State or
federal court sitting in the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the Notes or any other Note Document. To the fullest extent permitted by applicable law, each
Obligor irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of
any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

  
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 (b) Each Obligor agrees, to the fullest extent permitted by applicable law, that a final
judgment in any suit, action or proceeding of the nature referred to in Section 23.7(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the courts of the
United States or the State of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 

(c) Each Obligor consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of the nature
referred to in Section 23.7(a) by mailing a copy thereof by registered, certified, priority or express mail (or any substantially similar form of mail), postage prepaid, return receipt or delivery confirmation requested, to it at its address
specified in Section 19 or at such other address of which such holder shall then have been notified pursuant to said Section. Each Obligor agrees that such service upon receipt (i) shall be deemed in every respect effective service of
process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively
presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 

(d) Nothing in this Section 23.7 shall affect the right of any holder of a Note to serve process in any manner permitted by law, or
limit any right that the holders of any of the Notes may have to bring proceedings against any Obligor in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other
jurisdiction. 
 (E) THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT,
THE NOTES, ANY OTHER NOTE DOCUMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
 Section 23.8
Intercreditor Agreement. Notwithstanding anything herein to the contrary, the obligations of the Obligors pursuant to this Agreement and all other Secured Obligations, the Lien and security interest granted to the First Lien Collateral Agent
pursuant to the Security Documents, and the exercise of any right or remedy by the First Lien Collateral Agent, any Purchaser or any holder of Notes hereunder or under any other Note Document are subject to the provisions of the Intercreditor
Agreement. In the event of any conflict between the provisions of the Intercreditor Agreement and this Agreement, the provisions of the Intercreditor Agreement shall govern and control. 

Section 23.9 USA PATRIOT Act. The Purchasers subject to the USA PATRIOT Act hereby notify the Obligors that, pursuant to the
requirements of the USA PATRIOT Act, such Purchasers are required to obtain, verify and record information that identifies the Obligors, which information includes the name and address of each Obligor and other information that will allow each
Purchaser to identify such Obligor in accordance with the USA PATRIOT Act. 

  
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 Section 23.10 Limitations on Recourse. Notwithstanding anything to the contrary
in this Agreement, any other Financing Document or any other document executed or delivered in connection with the Financing Documents, none of the Secured Parties (in their capacity as such, and excluding the rights of any Obligor or any Subsidiary
following foreclosure by the Secured Parties) shall have any claims with respect to the transactions contemplated by the Financing Documents against any of the Affiliates of the Company (other than each other Obligor) (except, in each case, to the
extent set forth in the Financing Documents), any present or future holders (direct or indirect) of Equity Interests in Holdings or any shareholders, partners, members, managers, officers, directors, employees, representatives, controlling persons,
executives or agents of Holdings, including the Manager and its Affiliates (collectively, the “Non-Recourse Persons”), such claims against such
Non-Recourse Persons (including as may arise by operation of law) being expressly waived hereby; provided that the foregoing provisions of this Section 23.10 shall not (a) constitute a waiver,
release or discharge (or otherwise impair the enforceability) of any of the Secured Obligations, or of any of the terms, covenants, conditions, or provisions of this Agreement or any other Financing Document and the same shall continue (but without
personal liability of the Non-Recourse Persons) until fully paid, discharged, observed or performed, (b) constitute a waiver, release or discharge of any lien or security interest purported to be created
pursuant to the Security Documents (or otherwise impair the ability of any Secured Party to realize or foreclose upon any Collateral), (c) limit or restrict the right of the First Lien Collateral Agent or any other Secured Party (or any assignee,
beneficiary or successor to any of them) to name the Company, each other Obligor or any other Person as a defendant in any action or suit for a judicial foreclosure or for the exercise of any other remedy under or with respect to any Financing
Document, or for injunction or specific performance, so long as no judgment in the nature of a deficiency judgment shall be enforced against any Non-Recourse Person, (d) release any Non-Recourse Person from liability (to the extent it would otherwise be liable) for its own fraudulent actions or willful misconduct, or (e) limit the right of any Secured Party to name any Non-Recourse Person as a party to any action to the extent necessary to enforce this Agreement, any other Financing Document or any Lien or security interest in the Collateral, so long as no judgment in the nature
of a deficiency judgment shall be enforced against any Non-Recourse Person. 

*    *    *    *    * 

  
 76 

 If you are in agreement with the foregoing, please sign the form of agreement on a
counterpart of this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Obligors. 
  

			
	Very truly yours,
	
	GSRP PORTFOLIO I LLC,
	as the Company
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	GSRP PORTFOLIO I HOLDCO LLC,
	as Holdings
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	GSRP HESTER HOLDCO LLC,
	as a Guarantor
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	GSRP GREAT JONES HOLDCO LLC,
	as a Guarantor
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 
			
	GSRP PARK HOLDCO LLC,
	as a Guarantor
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	GSRP MUSTANG LLC,
	as a Guarantor
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	GSRP CHARLES HOLDCO LLC,
	as a Guarantor
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	ELIZABETH CADY LESSEE HOLDCO LLC,
	as a Guarantor
		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	 MUFG Union Bank, N.A.,
 as First
Lien Collateral Agent

		
	By:	 	/s/ Marion Zinowski
	Name:	 	Marion Zinowski
	Title:	 	Vice President

  

			
	 MUFG Union Bank, N.A.,
 as Notes
Agent

		
	By:	 	/s/ Marion Zinowski
	Name:	 	Marion Zinowski
	Title:	 	Vice President
	
	 INITIAL PURCHASER
 SIGNATURE PAGES
FOLLOW:

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	TRANSAMERICA PREMIER LIFE INSURANCE COMPANY
	BY: AEGON USA Investment Management, LLC, its investment manager
		
	By:	 	/s/ Josh Prieskorn
	Name:	 	Josh Prieskorn
	Title:	 	Vice President

  

			
	TRANSAMERICA LIFE INSURANCE COMPANY
	BY: AEGON USA Investment Management, LLC, its investment manager
		
	By:	 	/s/ Josh Prieskorn
	Name:	 	Josh Prieskorn
	Title:	 	Vice President

  

			
	TRANSAMERICA PACIFIC INSURANCE COMPANY LTD
	BY: AEGON USA Investment Management, LLC, its investment manager
		
	By:	 	/s/ Josh Prieskorn
	Name:	 	Josh Prieskorn
	Title:	 	Vice President

  

			
	TRANSAMERICA LIFE (BERMUDA) LTD
	BY: AEGON USA Investment Management, LLC, its investment manager
		
	By:	 	/s/ Josh Prieskorn
	Name:	 	Josh Prieskorn
	Title:	 	Vice President

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

					
	 AMERICAN GENERAL LIFE INSURANCE COMPANY

THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

		
	By:	 	AIG Asset Management (U.S.), LLC, as Investment Adviser
			
		 	By:	 	/s/ John H. Pollock
		 	Name:	 	John H. Pollock
		 	Title:	 	Managing Director

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

					
	AMERICAN HERITAGE LIFE INSURANCE COMPANY
		
		 	

			
	By:	 	/s/ Jerry D. Zinkula	 	
	Name:	 	Jerry D. Zinkula	 	

 
					
			
	By:	 	/s/ Allen Dick	 	
	Name:	 	Allen Dick	 	
	Authorized Signatories	 	

 
					
		
	ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK	 	
		
		 	

			
	By:	 	/s/ Jerry D. Zinkula	 	
	Name:	 	Jerry D. Zinkula	 	

 
					
			
	By:	 	/s/ Allen Dick	 	
	Name:	 	Allen Dick	 	
	Authorized Signatories	 	

 [Signature Page to the Note Purchase Agreement] 

GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

									
	ATHENE ANNUITY AND LIFE COMPANY	 		 	ROYAL NEIGHBORS OF AMERICA
			
	By: Apollo Insurance Solutions Group LLC, its investment adviser	 		 	By: Apollo RN Credit Management, LLC, its investment adviser
	By: Apollo Capital Management, L.P., its sub adviser	 		 	By: Apollo Capital Management, L.P., its sole member
	By: Apollo Capital Management GP, LLC, its General Partner	 		 	By: Apollo Capital Management GP, LLC, its General Partner
					
	By	 	 /s/ Joseph D. Glatt
	 		 	By	 	/s/ Joseph D. Glatt
	Name: Joseph D. Glatt	 		 	Name: Joseph D. Glatt
	Title: Vice President	 		 	Title: Vice President

  

									
	ATHENE LIFE INSURANCE COMPANY OF NEW YORK	 		 	ATHENE ANNUITY & LIFE ASSURANCE COMPANY OF NEW YORK
			
	By: Apollo Insurance Solutions Group LLC, its investment adviser	 		 	By: Apollo Insurance Solutions Group LLC, its investment adviser
	By: Apollo Capital Management, L.P., its sub adviser	 		 	By: Apollo Capital Management, L.P., its sub adviser
	By: Apollo Capital Management GP, LLC, its General Partner	 		 	By: Apollo Capital Management GP, LLC, its General Partner
					
	By:	 	/s/ Joseph D. Glatt	 		 	By:	 	/s/ Joseph D. Glatt
	Name: Joseph D. Glatt	 		 	Name: Joseph D. Glatt
	Title: Vice President	 		 	Title: Vice President

  

									
	ATHENE ANNUITY & LIFE ASSURANCE COMPANY	 		 	VENERABLE INSURANCE AND ANNUITY COMPANY
			
	By: Apollo Insurance Solutions Group LLC, its investment adviser	 		 	By: Apollo Insurance Solutions Group LLC, its investment adviser
	 By: Apollo Capital Management, L.P., its sub adviser
	 		 	By: Apollo Capital Management, L.P., its sub adviser
	By: Apollo Capital Management GP, LLC, its General Partner	 		 	By: Apollo Capital Management GP, LLC, its General Partner
					
	By:	 	/s/ Joseph D. Glatt	 		 	By:	 	/s/ Joseph D. Glatt
	Name: Joseph D. Glatt	 		 	Name: Joseph D. Glatt
	Title: Vice President	 		 	Title: Vice President

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	THE CANADA LIFE ASSURANCE COMPANY
		
	By:	 	 

  
  

	Name:
	Title:

  

			
		
	By:	 	

	Name:
	Title:

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	HANG SENG INSURANCE COMPANY LIMITED
		
	By:	 	/s/ Joe Lam
	Name: Joe Lam
	 Title: Director
  

			
		
	By:	 	/s/ Margaret Kwan
	Name: Margaret Kwan
	Title: Director

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	HSBC LIFE (INTERNATIONAL) LIMITED
		
	By:	 	 /s/William Chung

	Name:	 	 William Chung 

	Title:	 	Chief Investment Officer, HK

  

			
		
	By:	 	 /s/Sylvia Li

	Name:	 	Sylvia Li
	Title:	 	Actuary, HK Chief

  

			
		
	By:	 	 /s/Omar Malik

	Name:	 	Omar Malik
	Title:	 	Chief Financial Officer, HK

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

					
	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	Northwestern Mutual Investment Management Company, LLC, its investment adviser
			
	By:	 	/s/ Howard Stem	 	

	Name:	 	Howard Stem	 	
	Title:	 	Managing Director	 	
	
	 THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

for its Group Annuity Separate Account

			
	By:	 	/s/ Howard Stem	 	

	Name:	 	Howard Stem	 	
	Title:	 	Managing Director	 	

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	PACIFIC LIFE INSURANCE COMPANY
		
	By:	 	/s/ Jason T. Todd
	Name:	 	Jason T. Todd
	Title:	 	Assistant Vice President
		
	By:	 	/s/ Matthew A. Levene
	Name:	 	Matthew A. Levene
	Title:	 	Assistant Secretary

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

					
	HEALTH OPTIONS, INC.
	
	 By: Prudential Private Placement Investors, L.P.

(as Investment Advisor)

	
	 By: Prudential Private Placement Investors, Inc.

(as its General Partner)

			
	By:	 	/s/ Ingrida Soldatova 	 	 

        

		 	Vice President	 	

	
	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
			
	By:	 	/s/ Ingrida Soldatova	 	
		 	Vice President	 	

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	SUN LIFE HONG KONG LIMITED
		
	By:	 	/s/ Shiuan Ting van Vuuren
	Name:	 	Shiuan Ting van Vuuren
	Title:	 	Chief Investment Officer

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

			
	 SLC MANAGEMENT PRIVATE FIXED INCOME PLUS FUND,

by its general partner, SLC Management PFIP GP Inc.

		
	By:	 	/s/ Valter Lourenco
	Name:	 	Valter Lourenco
	Title:	 	Senior Director
		 	Project Finance
		 	Private Fixed Income
		
	By:	 	/s/ John D. Vincent
	Name:	 	John D. Vincent
	Title:	 	Senior Managing Director
		 	Head of Project Finance
		 	Private Fixed Income

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 This Agreement is hereby accepted and agreed to as of the date hereof. 

 

					
	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA	 	
		
	By: Nuveen Alternatives Advisors LLC, its investment adviser	 	
		
		 	

	By:	 	/s/ Joseph Cantey	 	
	Name:	 	Joseph Cantey	 	
	Title:	 	Managing Director	 	

  
 [Signature Page to the
Note Purchase Agreement] 
 GSRP Portfolio I, LLC 

 EXHIBIT A 

DEFINED TERMS 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 

“Additional Section 8.2 Acceptance Deadline Date” is defined in Section 8.2(e). 

“Additional Senior Notes” is defined in Section 1.1. 

“Affiliate” means, at any time, and with respect to any Person, (a) any other Person who, directly or indirectly, is in
control of, or controlled by, or is under common control with, such Person or (b) any other Person who is a director, officer or employee (i) of such Person, (ii) of any subsidiary or parent company of such Person or (iii) of any
Person described in subclause (a) above. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (x) to vote more than 50% of the securities having ordinary voting power for the election of directors
of any such Person or (y) to otherwise direct or cause the direction of the management and policies of such Person whether by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a
reference to an Affiliate of the Company. 
 “Agreement” means this Note Purchase Agreement, including all Schedules
attached to this Agreement. 
 “Annual Operating Budget” means a consolidated annual operating budget for the Company and
its Subsidiaries. 
 “Anti-Corruption Laws” means any law or regulation regarding bribery or any other corrupt activity,
including the U.S. Foreign Corrupt Practices Act. 
 “Anti-Money Laundering Laws” means any law or regulation in a U.S.
jurisdiction, or any non-U.S. jurisdiction to which the Company or any Guarantor is subject, regarding money laundering, drug trafficking, terrorist-related activities or other money laundering predicate
crimes, including the Currency and Foreign Transactions Reporting Act of 1970 (otherwise known as the Bank Secrecy Act) and the USA PATRIOT Act. 

“Applicable Aggregate Prepayment Amount” is defined in Section 8.2(e). 

“Applicable Law” means any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree or Governmental
Authorization, or any published directive or requirement which has the force of law, or other governmental restriction which has the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial or taxing
authority, applicable to and/or binding on a given Person, as the context may require, whether in effect as of the date of the Closing or thereafter and, in each case, as amended (including all Environmental Laws and any of the foregoing pertaining
to land use or zoning restrictions). 
 “Applicable Prepayment Date” is defined in Section 8.2(e). 

  
 A-1 

 “Applicable Rating Agency” means the Rating Agency that has assigned the
Senior Notes a Credit Rating. 
 “Authorized Officer” means (a) with respect to any Obligor, any authorized signatory
of the Manager and (b) with respect to any Person (including any Obligor), the chief executive officer, president, chief financial officer, general counsel, principal accounting officer, treasurer, assistant treasurer or any vice president of
such Person, or the equivalent position of such Person provided pursuant to the applicable Organizational Documents, or such other officer or representative (or individual holding a designated authorized office) specifically authorized by such
Person’s managing member, board of directors, management committee or equivalent governing body. 
 “Base Case
Projections” is defined in Section 4.1(r). 
 “Blocked Person” means (a) a Person whose name appears on
the list of Specially Designated Nationals and Blocked Persons published by OFAC, (b) a Person, entity, organization, country, or regime that is blocked or otherwise a target of comprehensive sanctions that have been imposed under Economic
Sanctions Laws, (c) a Canada Blocked Person or (d) a Person that is a department or instrumentality of, or is otherwise beneficially owned by or controlled by or acting on behalf of, directly or indirectly, any Person, entity,
organization, country or regime described in clause (a), (b) or (c). 
 “Business Day” means any day other than a Saturday,
a Sunday or a day on which commercial banks in New York, New York are required or authorized to be closed. 
 “Buyout Reserve
Account” is defined in the Depositary Agreement. 
 “Called Principal” is defined in Section 8.7. 

“Canada Blocked Person” means (a) a “terrorist group” as defined for the purposes of Part II.1 of the Criminal
Code (Canada), as amended or (b) a Person identified in or pursuant to (i) Part II.1 of the Criminal Code (Canada), as amended or (ii) the Proceeds of Crime (Money Laundering) and Terrorist Finance Act, as amended or (iii) the
Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law), as amended or (iv) regulations or orders promulgated pursuant to the Special Economic Measures Act (Canada), as amended, the United Nations Act (Canada), as amended,
or the Freezing Assets of Corrupt Foreign Officials Act (Canada), as amended, in any case pursuant to this clause (b) as a Person in respect of whose property or benefit a holder of Notes would be prohibited from entering into or facilitating a
related financial transaction. 
 “Capital Expenditures” means, for any period, (a) the additions to property, plant
and equipment and other capital expenditures of the Company and its consolidated Subsidiaries that are (or should be) set forth in a consolidated statement of cash flows of the Company for such period prepared in accordance with GAAP and
(b) obligations under Capital Leases or Synthetic Leases incurred by the Company and its consolidated Subsidiaries during such period. 

“Capital Lease” means, at any time, a lease with respect to which the lessee is required concurrently to recognize the
acquisition of an asset and the incurrence of a liability in accordance with GAAP. 

  
 A-2 

 “Cash Flow Available for Debt Service” means, with respect to any period,
an amount equal to (a) the amount of Revenue deposited (or, with respect to any future period, reasonably projected in good faith, on the basis of assumptions substantially consistent with the Base Case Projections or otherwise reasonable at
the time, to be deposited) into the Revenue Account during such period minus (b) all amounts paid (or, with respect to any future period, reasonably projected in good faith, on the basis of assumptions substantially consistent with the Base
Case Projections or otherwise reasonable at the time, to be paid) during such period pursuant to Section 3.1(b)(i) and Section 3.1(b)(ii) of the Depositary Agreement. Notwithstanding the foregoing, Cash Flow Available for Debt Service
(x) for the quarter ended June 30, 2019 shall be deemed to be $36,000,000, (y) for the quarter ended September 30, 2019 shall be deemed to be $22,000,000, and (z) for the quarter ended December 31, 2019 shall be deemed to be
$16,000,000. 
 “Change of Control” means an event or series of events by which: 

(a) the Company ceases to be actively managed by Manager or a Qualified Replacement Manager; or 

(b) GSRP or a Qualified Owner shall cease, directly or indirectly, to own and control legally and beneficially all of the Equity Interests in
the Company. 
 “Closing” is defined in Section 3. 

“Code” means the Internal Revenue Code of 1986 and the rules and regulations promulgated thereunder from time to time. 

“Collateral” is defined in the Intercreditor Agreement. 

“Company” is defined in the first paragraph of this Agreement. 

“Condemnation” means any taking, seizure, condemnation, confiscation or requisition, including severance damage, by eminent
domain or by inverse condemnation or for any public or quasi-public use under any Applicable Law. 
 “Confidential
Information” is defined in Section 21. 
 “Contractual Obligation” means, as to any Person, any provision of
any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Controlled Entity” means any Subsidiary of Holdings. 

“Credit Rating” means, with respect to (a) a Person, the rating assigned by a Rating Agency to the senior long-term
unsecured debt obligations of such Person or, if such Person does not have senior unsecured long-term debt that is rated by a Rating Agency, the rating assigned by a Rating Agency as the corporate credit rating or issuer rating of such Person (in
each case not supported by any third party credit enhancement) and (b) any Securities, the rating assigned by a Rating Agency to such Securities. In the event two Rating Agencies have assigned such Person a Credit Rating, the applicable Credit
Rating shall be the lower of the two and, in the event more than two Rating Agencies have assigned such Person a Credit Rating, the applicable Credit Rating shall be the second highest of the ratings. 

  
 A-3 

 “Debt Service” is defined in the Depositary Agreement. 

“Debt Service Coverage Ratio” means, for each Rolling Period, the ratio of: (a) Cash Flow Available for Debt Service
during such Rolling Period to (b) Debt Service during such Rolling Period, in each case, as reasonably determined by the Company and in any case including applicable scheduled Debt Service at the time of such
calculation.     
 “Debt Service Reserve Account” is defined in the Depositary Agreement. 

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of
notice or both, become an Event of Default. 
 “Default Rate” mean, with respect to any Series of Notes, that rate of
interest per annum that is 2.00% above the rate of interest stated in clause (a) of the first paragraph of the Notes of such Series. 

“Depositary Accounts” is defined in the Depositary Agreement. 

“Depositary Agreement” means that certain Depositary Agreement, dated as of the date hereof, among the Company, the LC
Facility Agent, the First Lien Collateral Agent, the Depositary Bank and each other Person party thereto from time to time. 

“Depositary Bank” means MUFG Union Bank, N.A., in its capacity as Depositary Bank under the Depositary Agreement. 

“Discounted Value” is defined in Section 8.7. 

“Discretionary Capital Expenditures” is defined in Section 10.9(b). 

“Disposition” or “Dispose” means the sale, assignment (other than an assignment for security), transfer,
license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment (other than an assignment for
security), transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Distribution Conditions” is defined in Section 10.7. 

“Distribution Reserve Account” is defined in the Depositary Agreement. 

“Dollars” or “$” means lawful money of the United States. 

“Economic Sanctions Laws” means those laws, executive orders, enabling legislation or regulations administered and enforced by
the United States, the European Union, the United Nations, Canada or any other governmental body with relevant jurisdiction pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the
Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act, and OFAC regulations. 

  
 A-4 

 “Emergency Capital Expenditures” means those capital expenditures
reasonably believed by the Company in its good faith judgment to be required to be expended in order to prevent or mitigate an emergency situation involving endangerment of life, human health, safety or the environment or damage to
property.     
 “Environmental Laws” means any and all federal, state, local, and foreign statutes,
laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of Hazardous
Materials into the environment. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital stock
of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of
the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other
interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein).     

“ERISA” means the Employee Retirement Income Security Act of 1974 and the rules and regulations promulgated thereunder from
time to time in effect.     
 “ERISA Affiliate” means any trade or business (whether or not
incorporated) that is treated as a single employer together with any Obligor under section 414 of the Code. 
 “Event of
Default” is defined in Section 11. 
 “Event of Loss” means any loss of, destruction of, or damage to any
asset or property of any Obligor or any Subsidiary thereof. 
 “EWG” means an “exempt wholesale generator” as
defined in Section 1262(6) of PUHCA and the FERC’s regulations at 18 C.F.R. § 366.1. 
 “FATCA” means
(a) sections 1471 through 1474 of the Code (or any amended or successor version), together with any current or future regulations or official interpretations thereof, (b) any treaty, law or regulation of any other jurisdiction, or relating
to an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of the foregoing clause (a), and (c) any agreements entered into pursuant to section 1471(b)(1) of the
Code. 
 “Federal Energy Regulatory Authorizations, Exemptions, and Waivers” means MBR Authority under the FPA, status as a
QF under PURPA, status as an EWG under PUHCA, and the PUHCA Exemption or Waiver. 

  
 A-5 

 “FERC” means the Federal Energy Regulatory Commission and its successors.

 “Financing Documents” means the Note Documents and all documents entered into in connection with the LC Facility. 

“First Lien Collateral Agent” is defined in the first paragraph of this Agreement. 

“First Lien Obligations” is defined in the Intercreditor Agreement. 

“First Lien Pledge and Security Agreement” means the First Lien Pledge and Security Agreement, dated as of the date hereof,
by and between the Company, Holdings, each other Obligor and the First Lien Collateral Agent. 
 “First Lien Secured
Parties” is defined in the Intercreditor Agreement. 
 “First Lien Security Documents” means the Depositary
Agreement, the First Lien Pledge and Security Agreement, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the First Lien Collateral Agent for the benefit of the First Lien Secured
Parties. 
 “Fitch” means Fitch Ratings, Inc. 

“FPA” means the Federal Power Act, as amended, and FERC’s implementing regulations related thereto. 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States. 

“Governmental Authority” means 

(a) the government of 

(i) the United States or any state or other political subdivision thereof, or 

(ii) any other jurisdiction in which any Obligor or any Subsidiary thereof conducts all or any part of its business, or which
asserts jurisdiction over any properties of any Obligor or any such Subsidiary, or 
 (iii) for purposes of
Section 5.14(b) only, any other jurisdiction in which the Company or any of its Controlled Entities conducts all or any part of its business, or which asserts jurisdiction over any properties of the Company or any of its Controlled Entities, or

 (b) any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such
government. 

  
 A-6 

 “Governmental Authorization” means any permit, license, authorization,
plan, directive, consent order, approval, registration, exemption or consent decree of or from any Governmental Authority. 

“Governmental Official” means any governmental official or employee, employee of any government-owned or
government-controlled entity, political party, any official of a political party, candidate for political office, official of any public international organization or anyone else acting in an official capacity. 

“GSRP” means Goldman Sachs Renewable Power LLC, a limited liability company organized under the laws of the State of
Delaware. 
 “Guaranteed Obligations” is defined in Section 13.1. 

“Guarantors” is defined in the first paragraph of this Agreement, together with any additional Persons who become Guarantors
pursuant to Section 13.6. 
 “Guaranty” means, with respect to any Person, any obligation (except the endorsement in
the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or
indirectly, including obligations incurred through an agreement, contingent or otherwise, by such Person: 
 (a) to purchase such
indebtedness or obligation or any property constituting security therefor; 
 (b) to advance or supply funds (i) for the purchase or
payment of such indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or
payment of such indebtedness or obligation; 
 (c) to lease properties or to purchase properties or services primarily for the purpose of
assuring the owner of such indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 

(d) otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 

In any computation of the indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of
such Guaranty shall be assumed to be direct obligations of such obligor. 
 “Hazardous Materials” means any and all
pollutants, toxic or hazardous wastes or other substances that pose a hazard to health and safety, the removal of which is required, or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation,
transfer, use, disposal, release, discharge, spillage, seepage or filtration of which is restricted, prohibited or penalized, by any applicable Environmental Law, including asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls,
petroleum, petroleum products, lead-based paint, radon gas or similar restricted, prohibited or penalized substances. 

  
 A-7 

 “holder” means, with respect to any Note, the Person in whose name such
Note is registered in the register maintained by the Company pursuant to Section 14.1, provided, however, that if such Person is a nominee, then for the purposes of Sections 7, 12, 18.2 and 19 and any related definitions in this
Exhibit A, “holder” shall mean the beneficial owner of such Note whose name and address appears in such register. 

“Holdings” is defined in the first paragraph of this Agreement. 

“Indebtedness” with respect to any Person means, at any time, without duplication, 

(a) its liabilities for borrowed money and its redemption obligations in respect of mandatorily redeemable Preferred Stock; 

(b) its liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary
course of business but including all liabilities created or arising under any conditional sale or other title retention agreement with respect to any such property); 

(c) (i) all liabilities appearing on its balance sheet in accordance with GAAP in respect of Capital Leases and (ii) all
liabilities which would appear on its balance sheet in accordance with GAAP in respect of Synthetic Leases assuming such Synthetic Leases were accounted for as Capital Leases; 

(d) all liabilities for borrowed money secured by any Lien with respect to any property owned by such Person (whether or not it has assumed
or otherwise become liable for such liabilities); 
 (e) all its liabilities in respect of letters of credit or instruments serving a
similar function issued or accepted for its account by banks and other financial institutions (whether or not representing obligations for borrowed money); 

(f) the aggregate Swap Termination Value of all Swap Contracts of such Person; and 

(g) any Guaranty of such Person with respect to liabilities of a type described in any of clauses (a) through (f)
hereof.     
 Indebtedness of any Person shall include all obligations of such Person of the character described in clauses
(a) through (g) to the extent such Person remains legally liable in respect thereof notwithstanding that any such obligation is deemed to be extinguished under GAAP. For the avoidance of doubt, Permitted Equity Commitments, Permitted Project
Undertakings and Project Obligations shall not constitute Indebtedness. 

  
 A-8 

 “Independent Engineer” means Enertis Solar Inc. or such other Person as the
Required Holders may engage on behalf of the holders of the Notes with the consent of the Company (not to be unreasonably withheld or delayed) to act as Independent Engineer for purposes of this Agreement and the other Note Documents. 

“Independent Engineer Report” means the report titled, “Independent Engineering report on the Goldman Sachs Renewable
Power solar photovoltaic portfolio,” prepared by the Independent Engineer dated December 3, 2019. 
 “INHAM
Exemption” is defined in Section 6.2(e). 
 “Initial Notes” is defined in Section 1.2. 

“Initial Purchaser” and “Initial Purchasers” have the meanings assigned to such term in the recital
of parties to this Agreement. 
 “Initial Section 8.2 Acceptance Deadline Date” is defined in Section 8.2(e).

 “Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with
one or more of its affiliates) at least $1,000,000 of the aggregate principal amount of the Notes of any Series then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any
investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note. 

“Insurance Consultant” means Moore McNeil, LLC or such other independent insurance consultant of recognized expertise
selected by the Required Holders with the consent of the Company (such consent not to be unreasonably withheld or delayed), to act as Insurance Consultant in connection with the transactions contemplated by the Note Documents. 

“Intercreditor Agreement” means that certain Collateral Agency and Intercreditor Agreement, dated as of the date hereof,
among the LC Facility Agent, the First Lien Collateral Agent, each Obligor and the other Persons from time to time party thereto. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of
(a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guaranty or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another
Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of the business of, such Person. For purposes of covenant
compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment, net of any dividends, interest, distributions, return of capital and other
amounts received or realized in respect of such Investment, up to the original amount of such Investment. For the avoidance of doubt, neither any Permitted Project Undertakings nor any payment pursuant to and in accordance with the terms of Project
Obligations in effect on the date of the Closing or entered into after the Closing not in contravention of this Agreement shall be deemed to constitute an Investment. 

  
 A-9 

 “IRS” is defined in Section 15.3. 

“Joinder Agreement” means a joinder agreement substantially in the form of Exhibit I. 

“Knowledge” means, with respect to (a) any Obligor or Subsidiary thereof, the actual knowledge of the Persons set forth
on Schedule A-1 after due inquiry of his or her direct reports within the Manager who are reasonably believed to have the relevant information; and (b) any other Person, the actual knowledge of such
Person (and “Know” and “Knowingly” shall be construed accordingly). 
 “LC Facility”
means the letter of credit facility contemplated by the LC Facility Credit Agreement. 
 “LC Facility Agent” is defined in
the Depositary Agreement. 
 “LC Facility Credit Agreement” is defined in the Depositary Agreement. 

“LC Loans” is defined in the Depositary Agreement. 

“Letters of Credit” is defined in the Depositary Agreement. 

“Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other encumbrance, or any
interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such Person. 

“Loss Proceeds” means (a) proceeds of any property insurance policy covering the Company, any of its Subsidiaries or any
Project, (b) all proceeds from any Condemnation of all or any part of a Project or any other asset of any Obligor or any Subsidiary thereof and (c) all other proceeds, compensation, awards, damages and other payments or relief received by
the Company or any of its Subsidiaries in respect of an Event of Loss or a Termination Event (other than, in each case, business interruption insurance proceeds, other payments received for interruption of operations during the applicable period and
the proceeds of workers’ compensation, employees’ liability and automobile liability insurance). 
 “Make-Whole
Amount” is defined in Section 8.7. 
 “Management Services Agreement” means the Management Services
Agreement, by and between GSRP and Manager, dated as of February 9, 2018. 
 “Manager” means Goldman Sachs Asset
Management, L.P., a limited partnership organized under the laws of the State of Delaware. 
 “Market Consultant” means
Leidos Engineering, LLC. 
 “Market Consultant Report” means the report titled, “Independent Market Consultant’s
Report Goldman Sachs Renewable Power LLC – Solar Portfolio” prepared by the Market Consultant dated December 18, 2019. 

  
 A-10 

 “Material” means, in respect of the applicable affected Projects (or
Subsidiaries owning such Projects), that, based on the Cash Flow Available for Debt Service for the most recently completed Rolling Period for which financial statements have been delivered in accordance with Section 7.1, such affected
Projects, in the aggregate, generated 10% or more of the aggregate Cash Flow Available for Debt Service over such Rolling Period. 

“Material Adverse Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition,
assets, liabilities or properties of the Obligors and their respective Subsidiaries, taken as a whole, (b) the ability of the Obligors, taken as a whole, to perform their material obligations under the Financing Documents, (c) the validity
or enforceability of the Financing Documents, (d) the ability of the holders of the Notes or the other Secured Parties to enforce any of their material rights or remedies under the Financing Documents or (e) the validity, priority or
perfection of the security interests of the First Lien Collateral Agent in the Collateral. 
 “Material Indebtedness” means
Indebtedness for borrowed money in an aggregate outstanding principal amount of at least $60,000,000 (or its equivalent in the relevant currency of payment). 

“Maturity Date” means (a) in the case of the Initial Notes, December 31, 2044, and (b) in the case of any
Series of Additional Senior Notes or Subordinate Notes, the date set forth in the Supplemental NPA pursuant to which such Series of Notes is issued. 

“MBR Authority” means an order by FERC pursuant to Section 205 of the FPA (a) authorizing a Project Company to sell
energy, capacity and specified ancillary services at market-based rates, (b) accepting a tariff for filing that provides for such sales, and (c) granting such Project Company waivers of regulations and blanket authorizations customarily
granted by FERC to an entity that sells wholesale power and ancillary services at market-based rates, including blanket approval for the issuance of securities and assumption of liabilities under Section 204 of the FPA. 

“Memorandum” is defined in Section 5.3. 

“Merchant Projects” means the following projects: 
  

															
	 Project
	  	 GSRP
Asset
ID
	  	DC Size
(kWdc)	 	  	 Address
	  	City	  	State	  	 Project
Company

	 Church Hill Solar
	  	MD- 03- 123	  	 	7,344.0	 	  	630 Cedar Lane	  	Church Hill	  	MD	  	GSRP Project Holdings I LLC
	 McKee City Solar 2
	  	NJ- 03- 130	  	 	2,517.3	 	  	SJG-LNG Plant Cates Road	  	McKee City	  	NJ	  	GSRP Project Holdings I LLC

 “Moody’s” means Moody’s Investors Service, Inc. 

  
 A-11 

 “Multiemployer Plan” means any Plan that is a “multiemployer
plan” (as such term is defined in section 4001(a)(3) of ERISA). 
 “NAIC” means the National Association of Insurance
Commissioners. 
 “NAIC Annual Statement” is defined in Section 6.2(a). 

“Necessary Project Approvals” is defined in Section 5.6. 

“Net Cash Proceeds” means, as applicable, (a) with respect to any Event of Loss, Termination Event or Condemnation, the
aggregate amount of Loss Proceeds actually received by or on behalf of any Obligor in connection with such Event of Loss, Termination Event or Condemnation, and (b) with respect to any Permitted Disposition or any other Disposition of assets
that are subject to mandatory prepayment pursuant to Section 8.2, the proceeds actually received by any Obligor in respect of such Disposition, in cash or cash equivalents, excluding any Loss Proceeds (to the extent included with clause
(a) above), minus in the case of both clauses (a) and (b) (without duplication), the sum of all fees and out of-pocket expenses paid by any of the Obligors or any of their Subsidiaries in connection
with such event, and the amount of all Taxes paid (or reasonably estimated to be payable) by or to any of the Obligors or their respective direct or indirect owners, or any of their respective Subsidiaries as a result of such event. 

“Non-Obligor Subsidiary” means any Subsidiary of the Company that is not an Obligor.

 “Non-Recourse Persons” is defined in Section 23.10. 

“Non-U.S. Plan” means any plan, fund or other similar program that (a) is
established or maintained outside the United States by any Obligor or any Subsidiary thereof primarily for the benefit of employees of any Obligor or one or more of its Subsidiaries residing outside the United States, which plan, fund or other
similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and (b) is not subject to ERISA or the Code. 

“Note Documents” means this Agreement, the Intercreditor Agreement, the Security Documents, the Paying Agent Agreement, the
Notes, each Supplemental NPA and any supplement thereto entered into in connection therewith. 
 “Notes” means the Senior
Notes and the Subordinate Notes, such term to include any such Notes issued in substitution therefor pursuant to Section 14. 

“Notes Agent” is defined in Section 15.6. 

“Obligors” is defined in the first paragraph of this Agreement. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

  
 A-12 

 “Officer’s Certificate” means a certificate of an Authorized Officer
or of any officer of the Company, a Guarantor or the Manager, whose responsibilities extend to the subject matter of such certificate. 

“Operating Statements” is defined in Section 7.1(i). 

“Organizational Documents” means, with respect to any Person, the by-laws,
partnership agreement, limited liability company agreement, operating agreement, management agreement or other similar or equivalent organizational, charter or constitutional agreement or arrangement. 

“Parent” means Goldman Sachs Renewable Power Operating Company LLC, a limited liability company organized under the laws of
the State of Delaware. 
 “Paying Agent Agreement” means that certain Registrar and Paying Agent Agreement, dated as of the
date of the Closing, by and between the Company and the Notes Agent. 
 “PBGC” means the Pension Benefit Guaranty
Corporation referred to and defined in ERISA. 
 “Permitted Asset Sale” is defined in Section 10.2(b). 

“Permitted Dispositions” is defined in Section 10.2(b). 

“Permitted Equity Commitments” means obligations of any Obligor or any of their Subsidiaries to make any payment in respect
of any Equity Interest in any Subsidiary (and any guarantee by any Obligor or any of their Subsidiaries of such obligations) as long as each such payment in respect of such Equity Interest constitutes an Investment permitted by Section 10.8.

 “Permitted Investments” means: (a) marketable direct obligations issued by, or unconditionally guaranteed by, the
United States government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, eurodollar
time deposits or overnight bank deposits having maturities of one year or less from the date of acquisition issued by any commercial bank organized under the laws of the United States or any state thereof having combined capital and surplus of not
less than $500,000,000 and rated at least “AA-” by S&P, “Aa3” by Moody’s or AA- by Fitch; (c) commercial paper of an issuer rated at
least “A-1” by S&P, “P-1” by Moody’s or F1+ by Fitch, or carrying an equivalent rating by a nationally recognized rating agency, if all
three of the named rating agencies cease publishing ratings of commercial paper issuers generally, and maturing within one year from the date of acquisition; (d) repurchase obligations of any commercial bank satisfying the requirements of
clause (b) above, having a term of not more than 30 days, with respect to securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition
issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory, the securities of which state, commonwealth, territory, political
subdivision or taxing authority (as the case may be) are rated at least “AA-” by S&P, “Aa3” by Moody’s or AA- by Fitch; (f) securities
with maturities of six (6) months or less from the date of acquisition backed by standby letters of credit issued by any commercial bank satisfying the requirements of clause (b) 

  
 A-13 

 
above; (g) money market mutual or similar funds that invest exclusively in assets satisfying the requirements of clauses (a) through (f) above; or (h) money market funds that
(x) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, (y) are rated “AAA” by S&P, “Aaa” by Moody’s or AAA by Fitch and
(z) have portfolio assets of at least $5,000,000,000 (subject to a maximum of 5% of fund capital). 
 “Permitted
Liens” is defined in Section 10.5. 
 “Permitted Project Undertakings” means guaranties by or obligations of
any Obligor or any of their Subsidiaries in respect of Project Obligations. 
 “Permitted Senior Secured Indebtedness”
means the LC Facility and Additional Permitted Senior Secured Indebtedness (as defined in the Intercreditor Agreement). 

“Permitted Tax Distributions” means cash dividends or other distributions declared and paid for the sole purpose of funding
the payments by the direct or indirect owners of the Company of the Taxes owed with respect to their respective allocable shares of the taxable net income for such period of any of the Company and any of its Subsidiaries, provided that such
dividends or other distributions shall not exceed, in any taxable period, an amount equal to (a) the product of (i) the highest marginal combined income Tax rates then in effect applicable to a corporation resident in Wilmington, Delaware
(taking into account the deductibility of state and local Taxes in computing U.S. Federal income Taxes) and (ii) net taxable income of the Company and such Subsidiaries for such taxable period reduced by any net losses or other tax attributes
(other than tax credits) of any of the Company or any such Subsidiary carried over from prior periods to the extent not previously taken into account in computing net taxable income under this clause (ii), reduced, but not below zero, by
(b) any tax credits of or allocable to the Company and such Subsidiaries for such taxable period and any such tax credits carried over from prior taxable periods to the extent not previously applied to reduce the amount of Permitted Tax
Distributions. 
 “Person” means an individual, partnership, corporation, limited liability company, association, trust,
unincorporated organization, business entity or Governmental Authority. 
 “Placement Agents” means each of Goldman
Sachs & Co. LLC (left lead placement), MUFG Securities Americas Inc. and HSBC Securities (USA) Inc., as lead placement agent, and Citigroup Global Markets Inc., as a co-placement agent. 

“Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is
or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the
Company or any ERISA Affiliate may have any liability. 
 “Portfolio Company” means each of the entities designated as a
“Portfolio Company” on Schedule 5.4. 
 “Portfolio Holding Company” means each of the entities designated as a
“Portfolio Holding Company” on Schedule 5.4. 

  
 A-14 

 “Power Purchase Agreements” means each power purchase agreement or similar
customer agreement entered into in respect of any Project, of which, with respect to a Project that has a nameplate-rated capacity equal to or exceeding five MW as of the date of Closing, is identified on Schedule
A-3. 
 “Power Purchaser” means the respective offtakers under the Power Purchase
Agreements. 
 “Pre-Ownership Period” means, with respect to any Subsidiary of the
Company or any Project, the period prior to the date the Company or any of its Affiliates acquired such Subsidiary or Project. 

“Preferred Stock” means any class of capital stock (or similar Equity Interests) of a Person that is preferred over any other
class of capital stock (or similar Equity Interests) of such Person as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such Person. 

“Project” means each of the projects described on Schedule A-2, together with any
renewable electric generation projects acquired in accordance with this Agreement; provided that any Project that is Disposed of in accordance with this Agreement shall no longer be a “Project”. 

“Project Company” means each of the entities designated as a “Project Company” on Schedule 5.4, and any future
Subsidiary of the Company that is designated as a “Project Company” pursuant to updated schedules delivered to the Purchasers in accordance with Section 4.2(a) or Section 7.2(b). 

“Project Documents” means the agreements to which a Project Company or a Non-Obligor
Subsidiary is a party relating to the ownership, development, construction, operation or maintenance of the Projects (other than the Financing Documents and the Tax Equity Documents). 

“Project Obligations” means, as to any Obligor or any of its Subsidiaries, any Contractual Obligation of such Person under
any Project Document or any Tax Equity Document. 
 “property” or “properties” means, unless otherwise
specifically limited, real or personal property of any kind, tangible or intangible, choate or inchoate. 
 “Prudent Industry
Practice” means those practices, methods, equipment, specifications and standards of safety and performance, as the same may change from time to time, as are commonly used by owners and operators of solar electric generation projects in the
United States of a type and size similar to the applicable Project as good, safe and prudent practices in connection with the operation, maintenance, repair, reconstruction and use of electrical and other equipment, facilities and improvements of
such Project, with commensurate standards of safety, performance, dependability, efficiency and economy. “Prudent Industry Practices” does not necessarily mean the best possible or any particular practice, method, equipment specification
or standard in all cases, but is instead intended to encompass a broad range of acceptable practices, methods, equipment specifications and standards. 

“PTE” is defined in Section 6.2(a). 

  
 A-15 

 “PUHCA” means the Public Utility Holding Company Act of 2005, as amended,
and all rules and regulations adopted thereunder. 
 “PUHCA Exemption or Waiver” has the meaning given to such term in
Section 5.17(e). 
 “Purchaser” or “Purchasers” is defined in the recital of the parties to this
Agreement. 
 “Purchaser Schedule” means the Purchaser Schedule to this Agreement listing the Purchasers of the Notes and
including their notice and payment information. 
 “PURPA” means the Public Utility Regulatory Policies Act of 1978, as
amended, and all rules and regulations adopted thereunder. 
 “QPAM Exemption” is defined in Section 6.2(d). 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning of
such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Qualified Owner” means any Person that has a
tangible net worth of at least $500,000,000 (or has a Credit Rating in respect of its senior unsecured and unguaranteed indebtedness or a corporate family Credit Rating of at least “BBB-” by S&P
or Fitch or “Baa3” by Moody’s); provided, however, that the requirements above shall only be deemed satisfied if prior to any such Person becoming an owner, directly or indirectly, of any equity interests in the Company,
the Rating Condition has been satisfied. 
 “Qualified Replacement Manager” means any Person that (a) is (or has an
Affiliate that is) the majority owner or operator of one or more solar electric generating facilities that, at the time of determination, are in commercial operation and that have an aggregate generating capacity of at least 300 megawatts or
(b) has contracted with one or more Persons to perform management, operation and maintenance services for the Projects, which are (or have an Affiliate that is), in each case, the majority owner or operator of one or more solar electric
generating facilities that, at the time of determination, are in commercial operation and that have an aggregate generating capacity of at least 300 megawatts; provided, however, that the requirements above shall only be deemed
satisfied if prior to any such Person replacing the Manager, the Rating Condition has been satisfied. For purposes of calculating percentage ownership by a Person of facilities co-owned with Tax Equity
Investors, the Person who is the managing member with respect to or otherwise owns the controlling interest in such facilities shall be deemed the majority owner thereof. 

“Qualifying Facility” or “QF” means a “qualifying small power production facility” as defined in
Section 3(17)(C) of the FPA, 16 U.S.C. § 796(17)(C), and the implementing regulations of the FERC at 18 C.F.R. §§ 292.101(b)(1) and 292.203(a). 

“Rating Agency” means (a) S&P, Fitch or Moody’s or (b) any other rating agency that, at the time of its
designation hereunder, is designated as a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission and has had its ratings accepted by the National Association of Insurance Commissioners in determining its
equivalent rating designations for reporting and reserving purposes and that is acceptable to the Required Holders (acting reasonably). For the avoidance of doubt, Egan-Jones Ratings shall not be a Rating Agency. 

  
 A-16 

 “Rating Condition” means that the holders have received a copy of written
evidence from the Applicable Rating Agency that, after giving effect to the action contemplated, (a) the Credit Rating of the Senior Notes will be at least BBB (if the Applicable Rating Agency is Fitch or S&P), Baa2 (if the Applicable
Rating Agency is Moody’s) or the equivalent if the Applicable Rating Agency is any other Rating Agency and (b) there will not result any downgrade, qualification or withdrawal of any Credit Rating of the Senior Notes from that in effect
immediately prior to such action. 
 “Reimbursement Obligations” is defined in the Depositary Agreement. 

“Reinvestment Yield” is defined in Section 8.7. 

“Related Fund” means, with respect to any holder of any Note, any fund or entity that (a) invests in Securities or bank
loans, and (b) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor. 

“Remaining Average Life” is defined in Section 8.7. 

“Remaining Scheduled Payments” is defined in Section 8.7. 

“Replacement LC Facility” is defined in the Intercreditor Agreement. 

“Reported” is defined in Section 8.7. 

“Required Capital Expenditure” means (a) Emergency Capital Expenditures and (b) capital expenditures incurred for
the purpose of permitting the Obligors and the Project Companies to comply with Applicable Law, regulatory requirements, Governmental Authorizations or the Project Documents or otherwise deemed reasonably prudent by the Company. 

“Required Holders” means, at any time (a) if Senior Notes are outstanding at such time, the holders of more than 50% in
principal amount of the Senior Notes at such time outstanding, and (b) if no Senior Notes are outstanding at such time, the holders of more than 50% in principal amount of the Subordinate Notes, if any, at such time outstanding (exclusive of,
in each of clause (a) and (b), Notes then owned by any Obligor or any of their Affiliates), and “Required Holders of Subordinate Notes” means, at any time, the holders of more than 50% in principal amount of the Subordinate
Notes at such time outstanding, exclusive of Subordinate Notes then owned by any Obligor or any of their Affiliates. 
 “Required
Sale” is defined in Section 10.2(b). 
 “Required Secured Parties” is defined in the Intercreditor Agreement.

 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property)
with respect to any capital stock or other Equity Interest of any Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to any Person’s stockholders, partners or members 

  
 A-17 

 
(or the equivalent of any thereof); provided that, for the avoidance of doubt, none of the following shall be considered a Restricted Payment: (a) reimbursement by the Company or any
of its Subsidiaries to any Affiliate for payments made by such Affiliate on behalf of the Company or any of its Subsidiaries with respect to (i) collateral or financial assurance requirements of contracts (including reimbursement of drawn
amounts under letters of credit or similar credit support) or (ii) repairs, replacements or restoration paid for and/or undertaken by such Affiliate in advance of receipt of any applicable insurance proceeds, (b) the payment of Sponsor
Expenses (as defined in the Depositary Agreement) and Management Fees (as defined in the Depositary Agreement), in each case, in the amount permitted under Section 3.1(b)(i) of the Depositary Agreement, and (c) the distribution made by the
Company set forth in the funds flow memorandum delivered on the date of the Closing pursuant to Section 4.1(j). 

“Revenue” is defined in the Depositary Agreement. 

“Revenue Account” is defined in the Depositary Agreement. 

“Rolling Period” means a period of four consecutive fiscal quarters; provided, however, if fewer than four
complete consecutive fiscal quarters remain between any date of measurement and the latest Maturity Date of the then outstanding Notes, then such period shall be deemed to be the period between such date of measurement and such Maturity Date. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
Inc.     
 “SEC” means the Securities and Exchange Commission of the United States. 

“Second Lien Security Documents” is defined in the Intercreditor Agreement. 

“Secured Obligations” is defined in the Intercreditor Agreement. 

“Secured Parties” is defined in the Intercreditor Agreement. 

“Securities” or “Security” shall have the meaning specified in section 2(a)(1) of the Securities
Act.     
 “Securities Act” means the Securities Act of 1933 and the rules and regulations promulgated
thereunder from time to time in effect. 
 “Security Documents” means, collectively, the First Lien Security Documents and,
from and after the execution thereof, the Second Lien Security Documents. 
 “Semi-Annual Payment Date” is defined in the
Depositary Agreement. 
 “Senior Notes” is defined in Section 1.1. 

“Senior Notes Offer” is defined in Section 1.3(f). 

“Series” is defined in Section 1.1. 

  
 A-18 

 “Settlement Date” is defined in Section 8.7. 

“Solvent” means, with respect to the Obligors, taken as a whole, that (a) the fair value of the assets of the Obligors,
at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Obligors, (b) the present fair saleable value of the property of the Obligors will be greater than the amount that will be
required to pay the probable liability of the Obligors on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured, (c) the Obligors will be able to pay
their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured (after giving effect to any Guaranty and credit support), and (d) the Obligors will not have unreasonably
small capital with which to conduct the business in which they are engaged as such business is now conducted and is proposed to be conducted following the date of the Closing. For purposes of this definition, (i) “able to pay their debts and
liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured (after giving effect to any Guaranty and credit support)” means that Obligors will be able to generate enough cash from
operations, asset dispositions or refinancings, or a combination thereof, to meet their obligations as they become due, and (ii) the amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the
facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Source” is defined in Section 6.2. 

“State Electric Utility Regulation” has the meaning given to such term in Section 5.17(f). 

“State Sanctions List” means a list that is adopted by any state Governmental Authority within the United States of America
pertaining to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions imposed under Economic Sanctions Laws. 

“Subordinate Note Event of Default” means the occurrence of any of the following events: (a) the Company fails to make
payment of any interest in respect of the Subordinate Notes upon the date when such interest becomes due and payable, and such failure continues uncured for five Business Days; (b) the Company fails to make payment of any principal in respect
of the Subordinate Notes upon the date when such principal becomes due and payable; or (c) the occurrence of any of the Events of Default described in Section 11(h) or (i). 

“Subordinate Notes” is defined in Section 1.1. 

“Subordination Agreement” is defined in Section 1.4. 

“Subsidiary” means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries or such
first Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions)
of such second Person, and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries
(unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries); provided that, notwithstanding the foregoing, each Project Company and each
Tax Equity Partnership shall be deemed Subsidiaries of the Obligors for all purposes hereunder. 

  
 A-19 

 “Substitute Purchaser” is defined in Section 22. 

“Super-Majority Holders” means at any time on or after the Closing, the holders of at least
66-2/3% in principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Company or any of its Affiliates). 

“Supplemental NPA” is defined in Section 1.3. 

“Supplemental Reserve Account” is defined in the Depositary Agreement. 

“SVO” means the Securities Valuation Office of the NAIC. 

“Swap Contract” means (a) any and all interest rate swap transactions, basis swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward foreign exchange transactions,
cap transactions, floor transactions, currency options, spot contracts or any other similar transactions or any of the foregoing (including any options to enter into any of the foregoing), and (b) any and all transactions of any kind, and the
related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc. or any International Foreign Exchange Master Agreement. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amounts(s) determined as the mark-to-market values(s) for such Swap Contracts, as determined based
upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts. 

“Synthetic Lease” means, at any time, any lease (including leases that may be terminated by the lessee at any time) of any
property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under which
such Person is the lessor. 
 “Tax” means any present or future tax, levy, impost, duty, deduction, withholding (including
backup withholding), assessment, fee or other similar charge imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Tax Equity Buyout Exercise” is defined in Section 10.8(b). 

“Tax Equity Documents” means the collective reference to the equity capital contribution agreements, membership interest
purchase agreements, operating agreements, administrative services agreements, master leases, subleases, lease supplements, pass-through agreements, guaranties and other tax equity investment documents, in each case, in respect of any Tax Equity
Partnership, any Tax Equity Lessee or any Tax Equity Lessor. 

  
 A-20 

 “Tax Equity Guarantee” means any guarantee provided by any Obligor or any
Affiliate or a Subsidiary thereof for the benefit of a Tax Equity Investor. 
 “Tax Equity Guarantor” each Obligor, or
Affiliate or Subsidiary thereof, that is providing a Tax Equity Guarantee. 
 “Tax Equity Investor” means any Person other
than any Obligor or any Affiliate or Subsidiary thereof that is party to a Tax Equity Document. 
 “Tax Equity Lessee”
means each of the entities designated as a “Tax Equity Lessee” on Schedule 5.4. 
 “Tax Equity Lessor” means each
of the entities designated as a “Tax Equity Lessor” on Schedule 5.4. 
 “Tax Equity Partnerships” means each of
the entities designated as a “Tax Equity Partnership” on Schedule 5.4. 

“Tax-Exempt Person” means: 

(a) a Person that is a “tax-exempt entity” (except to the extent (i) the exception
under Section 168(h)(1)(D) or Section 168(h)(2)(B) of the Code applies with respect to the income from the applicable Projects for that Person) or a “tax-exempt controlled entity” (other
than a “tax-exempt controlled entity” that has made the election provided by Section 168(h)(6)(F)(ii) of the Code) within the meaning of Section 168(h) of the Code; 

(b) a Person described in Section 50(b)(3) or 50(b)(4) of the Code; 

(c) a Person that is described in Treasury Regulations Section 1.48- 4(a)(1)(v); or 

(d) a Person that is for U.S. federal income tax purposes an entity disregarded as separate from its owner or a partnership a direct or
indirect owner of a beneficial interest in which is a “tax-exempt entity” or a “tax-exempt controlled entity” described in clause (a) or a
Person that is described in Treasury Regulations Section 1.48-4(a)(1)(v), unless such “tax-exempt entity,”
“tax-exempt controlled entity” or Person that is described in Treasury Regulations Section 1.48-4(a)(1)(v) holds such interest for U.S. federal income tax
purposes through a taxable C Corporation (as defined in the Code) that either (i) is not a “tax-exempt controlled entity” within the meaning of Section 168(h) of the Code or (ii) is
not treated as a “tax-exempt controlled entity” under Section 168(h)(6)(F) of the Code because it has made an election under Section 168(h)(6)(F)(ii) of the Code. 

“Tax Return” means any and all returns, reports, information returns, declarations, statements, certificates, bills,
schedules, documents, claims for refund, or other written information of or with respect to any Tax which is supplied to or required to be supplied to any Governmental Authority, including any and all attachments, amendments and supplements thereto.

  
 A-21 

 “Terminated PPA Sale” is defined in Section 10.2(b). 

“Termination Event” means the termination of any Power Purchase Agreement prior to its scheduled expiry. 

“Treasury Regulations” means the regulations promulgated under the Code. 

“UCC” means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable
jurisdiction. 
 “United States” or “U.S.” means the United States of America. 

“United States Person” has the meaning set forth in Section 7701(a)(30) of the Code. 

“USA PATRIOT Act” means United States Public Law 107-56, Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001 and the rules and regulations promulgated thereunder from time to time in effect. 

“Weighted Average Life to Maturity” means, when applied to any Notes at any date, the number of years obtained by dividing:
(a) the sum of the products obtained by multiplying (i) the amount of each then remaining payments of principal, including payment at final maturity, in respect of the applicable Notes, by (ii) the number of years (calculated to the
nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Notes. 

  
 A-22 

 EXHIBIT B-1 

to Note Purchase Agreement 

FORM OF 3.77% SENIOR NOTE DUE DECEMBER 31, 2044 

THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR STATE SECURITIES
LAWS, BUT HAVE BEEN ISSUED OR REGISTERED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. NO DISTRIBUTION, SALE, OFFER FOR SALE, TRANSFER, DELIVERY, PLEDGE, OR OTHER DISPOSITION OF THESE SECURITIES MAY BE EFFECTED EXCEPT IN
COMPLIANCE WITH THE ACT, ANY APPLICABLE STATE LAWS AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION AND STATE AGENCIES PROMULGATED THEREUNDER. 

GSRP PORTFOLIO I LLC 

3.77% Senior Note Due December 31, 2044 

 

					
	 No. [__]
	  		  	[_____], 20[__]
	 $[_______]
	  		  	PPN [_______]

 For VALUE RECEIVED, the undersigned, GSRP PORTFOLIO I LLC (herein called the “Company”), a
limited liability company organized and existing under the laws of the State of Delaware, hereby promises to pay to [____________], or its registered assigns, the principal sum of [_____________________] Dollars (or so much thereof as shall not have
been repaid or prepaid) on December 31, 2044 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day
months) (a) on the unpaid balance hereof at the rate of [_____]% per annum from the date hereof, payable semi-annually, on the 30th day of June and the 31st day of December in each year, commencing with June 30, 2020, and on the Maturity
Date, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance and on
any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the Default Rate, payable semi-annually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America in New York at the principal office of the Depositary Bank or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below. 

  
 B-1-1 

 This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Note Purchase Agreement, dated as of _January 30, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Company, the Guarantors party
thereto, GSRP Portfolio I HoldCo LLC, a Delaware limited liability company, MUFG Union Bank, N.A., as First Lien Collateral Agent, MUFG Union Bank, N.A., as Notes Agent, and the respective Purchasers named therein and is entitled to the benefits
thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 21 of the Note Purchase Agreement and (ii) made the representations set forth in
Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 The Company will make required repayments, prepayments or repurchases of principal on the
dates and in the amounts specified in the Note Purchase Agreement. This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

 If an Event of Default occurs and is continuing, and subject to the terms of the Note Purchase Agreement and the Intercreditor Agreement,
the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note is secured by the Collateral pursuant to the First Lien Security Documents and is subject to the Intercreditor Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other
than such State. 
 [Signature page follows.] 

  
 B-1-2 

 
			
	GSRP PORTFOLIO I LLC
		
	By:	 	 
	Name:	 	
	Title:	 	Authorized Person

  
 B-1-3 

 EXHIBIT B-2 

to Note Purchase Agreement 

FORM OF ADDITIONAL SENIOR NOTE 

[___]% SENIOR NOTE DUE [_________] 

THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR STATE SECURITIES
LAWS, BUT HAVE BEEN ISSUED OR REGISTERED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. NO DISTRIBUTION, SALE, OFFER FOR SALE, TRANSFER, DELIVERY, PLEDGE, OR OTHER DISPOSITION OF THESE SECURITIES MAY BE EFFECTED EXCEPT IN
COMPLIANCE WITH THE ACT, ANY APPLICABLE STATE LAWS AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION AND STATE AGENCIES PROMULGATED THEREUNDER. 

GSRP PORTFOLIO I LLC 

[_____]% Senior Note Due [_________] 
  

					
		  		  	
	 No. [__]
	  		  	 [_____], 20[__]

	 $[_______]
	  		  	 PPN [_______]

 For VALUE RECEIVED, the undersigned, GSRP PORTFOLIO I LLC (herein called the “Company”), a limited liability
company organized and existing under the laws of the State of Delaware, hereby promises to pay to [____________], or its registered assigns, the principal sum of [_____________________] Dollars (or so much thereof as shall not have been repaid or
prepaid) on [____] (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance
hereof at the rate of [_____]% per annum from the date hereof, payable semi-annually on the 30th day of June and the 31st day of December in each year, commencing with [_____], and ending on the Maturity Date, until the principal hereof shall have
become due and payable, and (b) to the extent permitted by law, (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount,
at a rate per annum from time to time equal to the Default Rate, payable semi-annually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America in New York at the principal office of the Depositary Bank or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below. 

  
 B-2-1 

 This Note is one of a series of Senior Notes (herein called the “Notes”) issued
pursuant to the Note Purchase Agreement, dated as of January 30, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Company, the Guarantors party thereto,
GSRP Portfolio I HoldCo LLC, a Delaware limited liability company, MUFG Union Bank, N.A., as First Lien Collateral Agent, MUFG Union Bank, N.A., as Notes Agent, and the respective Purchasers named therein and is entitled to the benefits thereof.
Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 21 of the Note Purchase Agreement and (ii) made the representations set forth in
Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 
 The Company will make required repayments, prepayments or repurchases of principal on the
dates and in the amounts specified in the Note Purchase Agreement. This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

 If an Event of Default occurs and is continuing, and subject to the terms of the Note Purchase Agreement and the Intercreditor Agreement,
the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note is secured by the Collateral pursuant to the First Lien Security Documents and is subject to the Intercreditor Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other
than such State. 
 [Signature page follows.] 

  
 B-2-2 

 
			
	 GSRP PORTFOLIO I LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 B-2-3 

 EXHIBIT B-3 

to Note Purchase Agreement 

FORM OF SUBORDINATE NOTE 

[___]% SUBORDINATE NOTE DUE [_________] 

THE SECURITIES REPRESENTED BY THIS SUBORDINATE NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR STATE
SECURITIES LAWS, BUT HAVE BEEN ISSUED OR REGISTERED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. NO DISTRIBUTION, SALE, OFFER FOR SALE, TRANSFER, DELIVERY, PLEDGE, OR OTHER DISPOSITION OF THESE SECURITIES MAY BE EFFECTED
EXCEPT IN COMPLIANCE WITH THE ACT, ANY APPLICABLE STATE LAWS AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION AND STATE AGENCIES PROMULGATED THEREUNDER. 

THIS SUBORDINATE NOTE IS SUBORDINATE TO THE SENIOR NOTES ON THE TERMS AND CONDITIONS SET FORTH IN THE NOTE PURCHASE AGREEMENT. THE DESIGNATION, RIGHTS,
PRIVILEGES, RESTRICTIONS, PREFERENCES AND OTHER TERMS AND PROVISIONS OF THIS SUBORDINATE NOTE REPRESENTED HEREBY SHALL IN ALL RESPECTS BE SUBJECT TO THE PROVISIONS OF THE NOTE PURCHASE AGREEMENT. 

[THIS INSTRUMENT AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATED IN THE MANNER AND TO THE EXTENT SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT
(AS AMENDED, RESTATED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME IN ACCORDANCE WITH THE TERMS THEREOF, THE “SUBORDINATION AGREEMENT”) DATED AS OF ___________, 20___ BY AND AMONG GSRP PORTFOLIO I LLC, A
DELAWARE LIMITED LIABILITY COMPANY, GSRP PORTFOLIO I HOLDCO LLC, A DELAWARE LIMITED LIABILITY COMPANY, CERTAIN OTHER SUBSIDIARIES OF THE COMPANY, AS GUARANTORS, MUFG UNION BANK, N.A., AS THE SENIOR AGENT (AS DEFINED THEREIN) FOR THE SENIOR CREDITORS
(AS DEFINED THEREIN) AND THE SUBORDINATE NOTEHOLDER REPRESENTATIVE (AS DEFINED THEREIN), TO THE PRIOR PAYMENT IN FULL (AS DEFINED THEREIN) OF THE SENIOR DEBT (AS DEFINED THEREIN), AND EACH HOLDER OF THIS INSTRUMENT, BY ITS ACCEPTANCE HEREOF,
IRREVOCABLY AGREES TO BE BOUND BY THE PROVISIONS OF THE SUBORDINATION AGREEMENT.]1 [NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THIS INSTRUMENT AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBJECT TO THE PROVISIONS OF THE COLLATERAL AGENCY AND
INTERCREDITOR AGREEMENT, DATED AS OF JANUARY 30, 2020 (AS AMENDED, RESTATED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE “INTERCREDITOR 

 

	1 	 Insert if Subordinate Notes are unsecured. 

  
 B-3-1 

 AGREEMENT”), AMONG GSRP PORTFOLIO I LLC, GSRP PORTFOLIO I HOLDCO LLC, THE FIRST LIEN COLLATERAL
AGENT (AS DEFINED THEREIN), THE LC FACILITY AGENT (AS DEFINED THEREIN), THE NOTES AGENT (AS DEFINED THEREIN), ANY SECOND LIEN COLLATERAL AGENT (AS DEFINED THEREIN) WHO BECOMES PARTY THERETO, AND CERTAIN OTHER PERSONS PARTY OR THAT MAY BECOME PARTY
THERETO FROM TIME TO TIME. 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.]2

 GSRP PORTFOLIO I LLC 

[_____]% Subordinate Note Due [_________] 
  

			
	 No. [__]
	  	[_____], 20[__]
	 $[_______]
	  	PPN [_______]

 For VALUE RECEIVED, the undersigned, GSRP PORTFOLIO I LLC (herein called the “Company”), a
limited liability company organized and existing under the laws of the State of Delaware, hereby promises to pay to [____________], or its registered assigns, the principal sum of [_____________________] Dollars (or so much thereof as shall not have
been repaid or prepaid) on [____] (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the
unpaid balance hereof at the rate of [_____]% per annum from the date hereof, payable [____] on [__________], commencing with [_____], and ending on the Maturity Date, until the principal hereof shall have become due and payable, and (b) to the
extent permitted by law, (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance [and on any overdue payment of any Make-Whole Amount], at a rate per annum from time to time
equal to the Default Rate, payable semi-annually as aforesaid (or, at the option of the registered holder hereof, on demand). 
 Payments of
[principal of and interest on] [principal of, interest on and any Make-Whole Amount] with respect to this Subordinate Note are to be made in lawful money of the United States of America in New York at the principal office of the Depositary Bank or
at such other place as the Company shall have designated by written notice to the holder of this Subordinate Note as provided in the Note Purchase Agreement referred to below. 

This Subordinate Note is one of a series of Subordinate Notes (herein called the “Subordinate Notes”) issued pursuant to the
Note Purchase Agreement, dated as of January 30, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Company, the Guarantors party thereto, GSRP Portfolio I
HoldCo LLC, a Delaware limited liability company, MUFG Union Bank, N.A., as First Lien Collateral Agent, MUFG Union Bank, N.A., as Notes Agent, and the respective Purchasers named 

 
  

	2 	 Insert if Subordinate Notes are secured on a second lien basis. 

  
 B-3-2 

 
therein and is entitled to the benefits thereof. Each holder of this Subordinate Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth
in Section 21 of the Note Purchase Agreement and (ii) made the representations set forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Subordinate Note shall have the
respective meanings ascribed to such terms in the Note Purchase Agreement. 
 This Subordinate Note is a registered Subordinate Note and, as
provided in the Note Purchase Agreement, upon surrender of this Subordinate Note for registration of transfer accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly
authorized in writing, a new Subordinate Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this
Subordinate Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 

This Subordinate Note is not prepayable or redeemable prior to the repayment in full of all Senior Notes at any time outstanding except under
certain circumstances provided for in the Note Purchase Agreement. 
 If an Event of Default occurs and is continuing, and subject to the
terms of the Note Purchase Agreement and the Intercreditor Agreement, the principal of this Subordinate Note may be declared or otherwise become due and payable in the manner, at the price [(including any applicable Make-Whole Amount)] and with the
effect provided in the Note Purchase Agreement. 
 [This Subordinate Note is secured by the Second Lien Collateral pursuant to the Second
Lien Security Documents and is subject to the Intercreditor Agreement.]3 
 This
Subordinate Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Subordinate Note shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

[Signature page follows.] 

 

	3 	 Insert if Subordinate Notes are secured on a second lien basis 

  
 B-3-3 

 
			
	 GSRP PORTFOLIO I LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 B-3-4 

 EXHIBIT C 

to Note Purchase Agreement 

[Notwithstanding anything herein to the contrary, this instrument and the indebtedness evidenced hereby are subject to the provisions of the Collateral
Agency and Intercreditor Agreement, dated as of January 30, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by
and among GSRP Portfolio I LLC, the Grantors (as defined therein), the First Lien Collateral Agent (as defined therein), the LC Facility Agent (as defined therein), the Notes Agent (as defined therein), any Second Lien Collateral Agent (as defined
therein) who becomes party thereto, and certain other persons party or that may become party thereto from time to time. 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.]1 
 [This instrument and the indebtedness evidenced hereby
are subordinated in the manner and to the extent set forth in that certain Subordination Agreement dated as of ________, 20___ (as amended, restated, amended and restated, supplemented or otherwise modified from time to time in accordance with the
terms thereof, the “Subordination Agreement”), by and among GSRP Portfolio I LLC, a Delaware limited liability company, the Obligors (as defined therein), MUFG Union Bank, N.A., as the First Lien Collateral Agent and Senior Agent (as such
terms are defined therein) for the Senior Creditors (as defined therein), the Second Lien Collateral Agent (as defined therein), the Subordinate Noteholder Representative (as defined therein), to the prior Payment in Full (as defined therein) of the
Senior Debt (as defined therein), and each holder of this instrument, by its acceptance hereof, irrevocably agrees to be bound by the provisions of the Subordination Agreement.]2 

GSRP PORTFOLIO I LLC 

[NUMBER] SUPPLEMENTAL NOTE PURCHASE AGREEMENT 

Dated as of_______________ ____, 20___ 
  

									
	 Re:
	  	$_____________________________ __________% [Series _____________]	 	 [Additional Senior

Notes][Subordinate Notes], 

due________________ _______, 20_____ 

 

	1 	 NTD: Insert if this Supplemental NPA is for the issuance of second lien secured Subordinate Notes.

  

	2 	 NTD: Insert if this Supplemental NPA is for the issuance of unsecured Subordinate Notes. 

  
 1 

 GSRP PORTFOLIO I LLC 

200 WEST STREET, 3RD FLOOR 

NEW YORK, NEW YORK 10282 

 

			
		  	Dated as of
		  	_________________ _____, 20___

 To the Purchaser(s) listed in the attached Schedule A hereto 

Ladies and Gentlemen: 
 This [Number]
Supplemental Note Purchase Agreement (this “Supplemental NPA”) is among GSRP Portfolio I LLC, a Delaware limited liability company (the “Company”), GSRP Portfolio I HoldCo LLC, a Delaware limited liability company
(“Holdings”), each Guarantor party hereto, each of the purchasers under the caption “PURCHASERS” on the signature pages hereof (the “Purchasers”) [and [________], not in its individual capacity but solely
as [Second Lien Collateral Agent][Noteholder Representative]3. 
 Reference is hereby
made to that certain Note Purchase Agreement dated as of January 30, 2020 (the “Note Purchase Agreement”), among the Company, the other Obligors, the initial Purchasers and the First Lien Collateral Agent. All
capitalized terms not otherwise defined herein shall have the same meaning as specified in the Note Purchase Agreement. Reference is further made to Section 1.3 of the Note Purchase Agreement which requires, prior to the delivery of any
[Additional Senior Notes][Subordinate Notes], the execution and delivery of a Supplemental NPA. 
 The Company hereby agrees with the
Purchaser(s) as follows: 
 1. The Company has authorized the issue and sale, subject to the terms and conditions of this Supplemental NPA,
of up to $[___________] aggregate principal amount of its [guaranteed/secured/unsecured] _____ % [Series __________ ] [Additional Senior Notes][Subordinate Notes], due ________, 20__ (the “Series _____ Notes”). The Series _____
Notes shall constitute [Additional Senior Notes][Subordinate Notes] under the Note Purchase Agreement. The Series _____ Notes, together with the Initial Notes initially issued pursuant to the Note Purchase Agreement [and [the Series _____ Notes]
issued pursuant to the [Number] Supplemental NPA dated [_____], respectively,] and each series of [Additional Senior Notes][Subordinate Notes] which may from time to time hereafter be issued pursuant to the provisions of Section 1.3 of
the Note Purchase Agreement, are collectively referred to as the “Notes” (such term shall also include any such notes issued in substitution therefor pursuant to Section 14.2 of the Note Purchase Agreement). The Series _____
Notes shall be substantially in the form set out in Exhibit B4 hereto, with such changes therefrom, if any, as may be approved by each Purchaser and the Company. 

 

	3 	 NTD: Insert if applicable. 

	4 	 NTD: Exhibit B to be substantially in the form of Exhibit B-2 of the
Note Purchase Agreement for any Additional Senior Notes and in the form of Exhibit B-3 of the Note Purchase Agreement for any Subordinate Notes. 

  
 2 

 2. Subject to the terms and conditions of this Supplemental NPA and the Note Purchase
Agreement, the Company will issue and sell to each Purchaser, and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Series _____ Notes in the principal amount specified opposite such Purchaser’s name
in Schedule A hereto at a price of [__]% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or nonperformance
of any obligation by any other Purchaser hereunder. 
 3. The sale and purchase of the Series _____ Notes to be purchased by each Purchaser
shall occur at the offices of [Latham & Watkins LLP, 885 3rd Ave, New York, NY 10022] at 10:00 a.m. New York time, at a closing (the “Closing”) on_________________ ___, 20___. At the Closing, the Company will deliver to
each Purchaser the Series _____ Notes to be purchased by such Purchaser in the form of a single Series ____ Note (or such greater number of Series _____ Notes in denominations of at least $2,000,000 as such Purchaser may request) dated the date of
the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds for the account of the Company to the account specified in the
funding instructions delivered to the Purchasers pursuant to Section 4(e) below. If, at the Closing, the Company shall fail to tender such Series _____ Notes to any Purchaser as provided above in this Section 3, or any of the conditions
specified in Section 4 shall not have been fulfilled to any Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Supplemental NPA, without thereby waiving any rights such
Purchaser may have by reason of such failure by the Company to tender such Series ___ Notes or any of the conditions specified in Section 4 hereof or Section 4.2 of the Note Purchase Agreement not having been fulfilled to such
Purchaser’s satisfaction. 
 4. Each Purchaser’s obligation to purchase and pay for the Series _____ Notes to be sold to such
Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the Closing, of the conditions set forth in Section 1.3 and Section 4.2 of the Note Purchase Agreement with respect to the Series
_____ Notes to be purchased at the Closing, and to the following additional conditions: 
  

	 	(a)	 Sale of Other Notes. Contemporaneously with the Closing, the Company shall sell to each other Purchaser
and each other Purchaser shall purchase the Series _____ Notes to be purchased by it at the Closing as specified in Schedule A. 

  

	 	(b)	 Representations and Warranties. Except as supplemented, amended or superseded by the representations and
warranties of the Obligors set forth in Exhibit A hereto and in any schedule to the Note Purchase Agreement permitted to be updated in accordance with the terms of the Note Purchase Agreement, each of the representations and warranties of the
Obligors set forth in Section 5 of the Note 

  
 3 

	 	
Purchase Agreement shall be true and correct as of the date of the Closing except (x) that such materiality qualifier shall not be applicable to any representation or warranty that is
already qualified or modified by materiality or Material Adverse Effect in the text thereof and (y) for representations and warranties which are as of a specific date, which shall be true and correct in all material respects as of such date)
and the Company shall have delivered to each Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that such condition has been fulfilled. 

 

	 	(c)	 [Purchase Permitted by Applicable Law. On the date of the Closing, such Purchaser’s purchase of
Series ____ Notes shall (i) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited
investments by insurance companies without restriction as to the character of the particular investment, (ii) not violate any applicable law or regulation (including Regulation T, U or X of the Board of Governors of the Federal Reserve System)
and (iii) not subject such Purchaser to any penalty or liability (other than any Tax liability) under or pursuant to any applicable law or regulation. If requested by such Purchaser, such Purchaser shall have received an Officer’s
Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted.]5 

 

	 	(d)	 Payment of Fees; Taxes. Without limiting Section 16.1 of the Note Purchase Agreement or any other
expense reimbursement obligation under the Note Documents, the Company shall have paid on or before the Closing (i)6 the reasonable and documented fees, charges and disbursements of the Placement
Agents, the First Lien Collateral Agent, [the Second Lien Collateral Agent,] the Notes Agent, [the Noteholder Representative,] the Depositary Bank, consultants to the First Lien Secured Parties and [Latham & Watkins LLP], special counsel to
the Purchasers and the other First Lien Secured Parties [and Second Lien Secured Parties], in each case, to the extent reflected in a statement of such Person rendered to the Company at least two Business Days prior to the Closing, (ii) all
recording, documentary, filing, intangible, stamp or other similar Taxes and other expenses related to such filings, registrations and recordings necessary for the consummation of the transactions contemplated by this Supplemental NPA and the other
Note Documents and (iii) all other fees and expenses then due and payable by the Obligors pursuant to the Financing Documents to the extent reflected in a statement of the applicable payee rendered to the Company at least two Business Days
prior to the date of the Closing. 

  

	5	 NTD: Update as appropriate in the event of changes in law since Closing. 

 

	6	 NTD: Revise clause as applicable. 

  
 4 

	 	(e)	 Funding Instructions. At least three Business Days prior to the date of the Closing, each Purchaser (or
its representative) shall have received written instructions signed by an Authorized Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and address of the transferee bank,
(ii) such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Series __ Notes is to be deposited. 

 

	 	(f)	 KYC and USA Patriot Act. To the extent requested by any Purchasers that do not hold any prior series of
Notes at least 10 Business Days prior to the date of the Closing, such Purchasers shall have received all documentation and other information with respect to the Obligors and their Subsidiaries required to allow such Purchaser to comply with
Applicable Law and related internal procedures relating to “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, which are applicable to the Purchasers. 

 

	 	(g)	 [Second Lien Security Documents. Such Purchaser, the First Lien Collateral Agent and the Second Lien
Collateral Agent shall have received certified, complete and correct copies of all of the Second Lien Security Documents (together with any amendments, supplements, schedules and exhibits thereto), duly executed and delivered by each Obligor party
thereto.]7 

  

	 	(h)	 [Security. Valid and perfected second priority security interests (subject only to Permitted
Liens) in the Collateral shall have been created in favor of the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties, in each case, in form and substance reasonably satisfactory to such Purchaser, and such Purchaser shall
have received evidence of the filing or registration of all appropriate documents and payment of all related fees and expenses in accordance with Applicable Law necessary for the creation and perfection of the Liens intended to be created by the
Second Lien Security Documents, all in form and substance reasonably satisfactory to such Purchaser.]8 

  

	 	(i)	 Opinion of Counsel. Such Purchaser shall have received an opinion from [Skadden, Arps, Slate,
Meagher & Flom LLP], special counsel for the Obligors, covering the authorization, execution and delivery [and customary UCC security interest matters] with respect to this Supplemental NPA [and the Second Lien Security Documents].]9 

  

	 	(j)	 [Insert any other applicable conditions precedent for the issuance of the Series __ Notes]

 5. [Here insert special provisions for Series _____ Notes including prepayment provisions applicable to Series _____
Notes (including Make-Whole Amount) and any other provisions permitted by the Note Purchase Agreement (any of which may be set forth in an attachment hereto)]. 

 

	7 	 NTD: To be included in respect of the first issuance of second lien Subordinate Notes. 

 

	8 	 NTD: To be included in respect of the first issuance of second lien Subordinate Notes. 

 

	9 	 NTD: To be included in respect of the first issuance of second lien Subordinate Notes. 

  
 5 

 6. [The Series _____ Notes shall rank pari passu in right of payment with the Notes of each
other Series of Senior Notes.]10 
 7. [Each Purchaser represents and warrants that the
representations and warranties set forth in Section 6 of the Note Purchase Agreement are true and correct on the date hereof with respect to the purchase of the Series _____ Notes by such
Purchaser.]11 
 8. Each Obligor and each Purchaser agree to be bound by and comply
with the terms and provisions of the Note Purchase Agreement as fully and completely as if such Purchaser were an original signatory to the Note Purchase Agreement. 

9. All references in the Note Purchase Agreement and all other instruments, documents and agreements relating to, or entered into in
connection with the foregoing documents and agreements, to the Note Purchase Agreement shall be deemed to refer to the Note Purchase Agreement, as supplemented by this _____ Supplemental NPA. 

10. Except as expressly supplemented by this _______ Supplemental NPA, all terms and provisions of the Note Purchase Agreement remain
unchanged and continue, unabated, in full force and effect and each Obligor hereby reaffirms its obligations and liabilities under the Note Purchase Agreement. 

11. [In order to bind all of the Purchasers as a group hereunder, each Purchaser, by its execution hereof and/or acceptance of the Series ___
Notes, hereby designates and appoints (a) [__________], as noteholder representative in respect of the Series ___ Notes (in such capacity, the “Noteholder Representative”), to act as its representative and attorney-in-fact under this Agreement and the Series ____ Notes and each Purchaser hereby irrevocably authorizes the Noteholder Representative to take such action or to
refrain from taking such action on its behalf under the provisions of the Note Purchase Agreement, this Supplemental NPA, the Series ___ Notes and the Subordination Agreement and to exercise such powers as are set forth herein or therein, together
with such other powers as are reasonably incidental thereto. The Noteholder Representative agrees to make all such arrangements as are reasonably required to ensure each Purchaser shall promptly receive all notices, consents, amendments, waivers and
other writings, however evidenced, received or sent by such Noteholder Representative in connection with the Note Purchase Agreement, this Supplemental NPA, the Series ___ Notes or the Subordination Agreement. The Noteholder Representative
(a) is acting solely on behalf of Purchasers, with duties that are entirely administrative in nature, (b) is not assuming any obligation under the Note Purchase Agreement, this Supplemental NPA, the Series ___ Notes or the Subordination
Agreement other than as expressly set forth herein and therein, or any role as agent, fiduciary or trustee of or for any Purchaser or any other Person and (c) shall have no implied functions, responsibilities, duties, obligations or other
liabilities under the Note Purchase Agreement, this Supplemental NPA, the Series ___ Notes or the Subordination Agreement, and each Purchaser hereby waives and agrees not to assert any claim against Noteholder Representative based on the roles,
duties and legal relationships expressly disclaimed in clauses (a) through (c) above. Noteholder Representative may perform any of its duties under the Note Purchase Agreement, this 

 
 10 NTD: Insert if this Supplemental NPA is for the issuance of Additional Senior Notes. 
 11 NTD: Update as appropriate in the event of changes in law since Closing. 

  
 6 

 
Supplemental NPA, the Series ___ Notes or the Subordination Agreement, by or through its agents, representatives or employees. Each Purchaser hereby irrevocably authorizes and directs the
Noteholder Representative to execute, deliver and perform the obligations of the Noteholder Representative under the Subordination Agreement and to take such action on behalf of the Purchaser under the Subordination Agreement as are expressly
provided therein.]12 
 12. [Each of the Purchasers hereby irrevocably designates and
appoints [__________], as the second lien collateral agent (in such capacity, the “Second Lien Collateral Agent”) under this Agreement, the Intercreditor Agreement and the other Second Lien Documents (as defined in the Intercreditor
Agreement), and each of the Purchasers irrevocably authorizes and directs [__________], in the capacity of Second Lien Collateral Agent, and each of its successors and assigns in such capacity, to (i) execute, deliver and perform the
obligations, if any, of the Second Lien Collateral Agent under the Note Purchase Agreement, this Supplemental NPA, each Second Lien Security Document and each other applicable Financing Document, (ii) take such action on its behalf under the
provisions of the Note Purchase Agreement, this Supplemental NPA and the Second Lien Security Documents and (iii) exercise such powers and perform such duties as are expressly delegated to the Second Lien Collateral Agent by the terms of the
Note Purchase Agreement, this Supplemental NPA and the Second Lien Security Documents, together with such other powers as are reasonably incidental thereto. The Second Lien Collateral Agent hereby agrees to act in its capacity as such upon the
express conditions contained herein and the other Financing Documents, as applicable. Each Obligor hereby acknowledges the appointment of the Second Lien Collateral Agent pursuant to this Section
[12].]13 
 13. This Supplemental NPA shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit
the application of the laws of a jurisdiction other than such State. 
 14. Any provision of this Supplemental NPA that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 

15. All covenants and other agreements contained in this Supplemental NPA by or on behalf of any of the parties hereto bind and inure to the
benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Series ___ Note) whether so expressed or not. 

16. This Supplemental NPA may be executed in any number of counterparts, each of which shall be an original but all of which together shall
constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of an executed counterpart of a signature page of this Supplemental NPA
or any document or instrument delivered in connection herewith (other than any Series ___ Note) by telecopy or “.pdf” shall be effective as delivery of a manually executed counterpart of this Supplemental NPA or such other document or
instrument, as applicable. 
  
 12 NTD: Insert if this Supplemental NPA is for the issuance of unsecured Subordinate Notes. 
 13 NTD: Insert if this Supplemental NPA is for the issuance of second lien secured Subordinate Notes. 

  
 7 

 The execution hereof shall constitute a contract between the Company and the Purchaser(s)
for the uses and purposes hereinabove set forth. 
  

			
	GSRP PORTFOLIO I LLC

 
			
		
	By	 	 

 
					
			
		 	Name:	 	 

 
					
			
		 	Title	 	 

  

			
		  	[INSERT OTHER OBLIGORS]
		
		  	[INSERT PURCHASER SIGNATURES]
		
		  	 [INSERT SECOND LIEN COLLATERAL
 AGENT OR
NOTEHOLDER
 REPRESENTATIVE AS APPLICABLE]

  
 8 

 SCHEDULE A 

to Supplemental Note Purchase Agreement 

INFORMATION RELATING TO PURCHASERS 

 

			
		  	PRINCIPAL
	NAME AND ADDRESS OF PURCHASER	  	AMOUNT OF SERIES
		  	____________NOTES
		  	TO BE PURCHASED
	[NAME OF PURCHASER]	  	$

  

	(1)	 All payments by wire transfer of immediately available funds to: 

with sufficient information to identify the source and application of such funds. 

 

	(2)	 All notices of payments and written confirmations of such wire transfers: 

 

	(3)	 All other communications: 

  
 Schedule A - 1 

 EXHIBIT A 

to Supplemental Note Purchase Agreement 

SUPPLEMENTAL REPRESENTATIONS14 

Each Obligor represents and warrants to each Purchaser that, except as hereinafter set forth in this Exhibit A, each of the representations and warranties set
forth in Section 5 of the Note Purchase Agreement is true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by
materiality or Material Adverse Effect in the text thereof) as of the date hereof (or, if stated to have been made solely as of an earlier date, were true and correct as of such earlier date) with respect to the Series _____ Notes with the same
force and effect as if each reference to “Initial Notes” set forth therein was modified to refer to the “Series _____ Notes,” each reference to “this Agreement” therein was modified to refer to “the Note Purchase
Agreement as supplemented by this ____ Supplemental NPA” and each reference to “the Purchasers” set forth therein was modified to refer to “the purchasers named on Schedule A to this Supplemental NPA.” The Section references
hereinafter set forth correspond to the similar sections of the Note Purchase Agreement which are supplemented hereby: 

Section 5.12 Private Offering by the Obligors. Neither such Obligor nor anyone acting on its behalf (other than the Series ___
Placement Agents) has offered the Series __________ Notes or any similar Securities for sale to, or solicited any offer to buy the Series __________ Notes or any similar Securities from, or otherwise approached or negotiated in respect thereof with,
any Person other than the Purchasers and not more than [__] other Persons that are both (a) an “accredited investor” within the meaning of Regulation D under the Securities Act and (b) a “qualified institutional buyer”
within the meaning of Rule 144A under the Securities Act, each of which has been offered the Series __________ Notes at a private sale for investment. Neither such Obligor nor anyone acting on its behalf (other than the Series ___ Placement Agents)
has (i) solicited offers for, or offered or sold, the Series __________ Notes by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering
within the meaning of Section 4(a)(2) of the Securities Act or (ii) otherwise taken, or will take, any action that would subject the issuance or sale of the Series __________ Notes to the registration requirements of section 5 of the
Securities Act or to the registration requirements of any Securities or blue sky laws of any applicable jurisdiction. 

Section 5.13 Use of Proceeds; Margin Regulations. The Company will apply the proceeds of the sale of the Series __________ Notes
as set forth in [insert of use of proceeds acceptable to the Purchasers]. No part of the proceeds from the sale of the Series __________ Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin
stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a violation of
Regulation X of said Board (12 CFR 224). Margin stock does not constitute more than 25% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute
more than 25% of the value of such assets. As used in this Section 
  

14 NTD: Update as appropriate in the event of changes in law since Closing. 

  
 Exhibit A - 1 

 5.13, the terms “margin stock” and “purpose of buying or carrying” shall
have the meanings assigned to them in said Regulation U. 
 [Add any additional representations as appropriate at the time the Series __________ Notes are
issued] 
 [Include and reference any updated disclosure schedules] 

  
 A - 2 

 EXHIBIT B 

to Supplemental Note Purhchase Agreement 

FORM OF SERIES 20___-_ NOTE 

GSRP PORTFOLIO I LLC 

[Form of Notes to Supplement to be based on applicable Note Purchase Agreement Exhibit] 

  
 Exhibit B - 1 

 EXHIBIT D 

to Note Purchase Agreement 

FORM OF OPINION OF SPECIAL COUNSEL FOR THE OBLIGORS 

See attached 

 January 30, 2020 

To the Addressees Listed 
 On Schedule I
hereto 
 RE: GSRP Portfolio I LLC 

Ladies and Gentlemen: 
 We have acted as special
counsel to GSRP Portfolio I LLC, a Delaware limited liability company (“Our Client” or the “Issuer”), in connection with the preparation, execution and delivery of (i) the Note Purchase Agreement, dated as of
the date hereof (the “Note Purchase Agreement”), among the Issuer, GSRP Portfolio I Holdco LLC, a Delaware limited liability company (“Holdings”), MUFG Union Bank, N.A., as the first lien collateral agent (the
“First Lien Collateral Agent”), MUFG Union Bank, N.A., as the notes agent, the Purchasers referred to therein (the “Purchasers”) and GSRP Hester Holdco LLC, a Delaware limited liability company, GSRP Great Jones
Holdco LLC, a Delaware limited liability company, GSRP Park Holdco LLC, a Delaware limited liability company, GSRP Mustang LLC, a Delaware limited liability company, GSRP Charles Holdco LLC, a Delaware limited liability company, and Elizabeth Cady
Lessee Holdco LLC, a Delaware limited liability company (collectively, the “Initial Guarantors”, and each individually, an “Initial Guarantor”; and together with the Issuer and Holdings, the “Opinion
Parties”, and each, an “Opinion Party”), relating to the sale by the Issuer to the Purchasers of $500,000,000 aggregate principal amount of the Issuer’s 3.77% Senior Secured Notes due December 31, 2044 (the
“Notes”), to be issued under the Note Purchase Agreement, (ii) the Credit and Guaranty Agreement, dated as of the date hereof (the “LC Facility Agreement”), among the Opinion Parties, MUFG Bank, Ltd., as a
joint lead arranger, a lender and an issuing bank, HSBC Bank USA, N.A., as a joint lead arranger, a lender and an issuing bank, MUFG Bank, Ltd., as the administrative agent (the “Administrative Agent”), and the First Lien Collateral
Agent, and (iii) certain other agreements, instruments and documents related to the Note Purchase Agreement and the LC Facility Agreement. This opinion is being furnished to you pursuant to Section 4.1(e) of the Note Purchase Agreement and

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 2 
 Section 3.1(e) of the LC Facility
Agreement. Neither the delivery of this opinion nor anything in connection with the preparation, execution or delivery of the Transaction Documents (as defined below) or the transactions contemplated thereby is intended to create or shall create an
attorney-client relationship with you or any other party except Our Client. 
 In rendering the opinions stated herein, we have examined and
relied upon the following: 
 (a) an executed copy of the Note Purchase Agreement that includes certain guaranty obligations of the Initial
Guarantors in Section 13 thereof (such guaranty obligations, the “Guarantees”); 
 (b) executed copies of the
certificates evidencing the Notes (together, the “Note Certificates”); 
 (c) an executed copy of the LC Facility
Agreement; 
 (d) an executed copy of the First Lien Pledge and Security Agreement, dated as of the date hereof (the “Security
Agreement”), by and among each of the Opinion Parties and the First Lien Collateral Agent; 
 (e) an executed copy of the
Depositary Agreement, dated as of the date hereof (the “Depositary Agreement”), by and among the Issuer, the First Lien Collateral Agent, the Administrative Agent and MUFG Union Bank, N.A., as depositary bank (the
“Depositary”); 
 (f) an executed copy of the Intercreditor Agreement (as defined in the Note Purchase Agreement); 

(g) an executed copy of a certificate for each Opinion Party of Jon Yoder, as an Authorized Representative of Goldman Sachs Renewable Power
LLC (“GSRP Parent”), dated the date hereof, a copy of which is attached as Exhibit A hereto (the “Opinion Certificate”); 

(h) an executed copy of a certificate for each Opinion Party of Jon Yoder, as an Authorized Representative of GSRP Parent, dated the date
hereof (the “Organizational Certificate”); 
 (i) copies of each Opinion Party’s Certificate of Formation, certified
by the Secretary of State of the State of Delaware as of January 28, 2020, and certified pursuant to the Organizational Certificate (collectively, the “Certified Charters” and each individually, a “Certified
Charter”); 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 3 
 pursuant to the Organizational Certificate
(collectively, the “Certified Charters” and each individually, a “Certified Charter”); 
 (j) a copy of each
Opinion Party’s Limited Liability Company Agreement, as described on Schedule III hereto (collectively, the “LLC Agreements”, and each individually, an “LLC Agreement”), certified pursuant to the
Organizational Certificate; 
 (k) copies of certain resolutions of the Board of Directors of GSRP Parent, adopted on January 30, 2020,
certified pursuant to the Organizational Certificate; 
 (l) copies of certain resolutions of the sole member of each Opinion Party, adopted
on January 30, 2020, certified pursuant to the Organizational Certificate; 
 (m) copies of certificates, dated January 29, 2020,
and bringdown verifications thereof, dated the date hereof, from the Secretary of State of the State of Delaware with respect to each Opinion Party’s existence and good standing in the State of Delaware (collectively, the “Delaware
Certificates”); 
 (n) the financing statements attached hereto as Exhibit B (the “Delaware Financing
Statements”); and 
 (o) an executed copy of an offeree letter, dated as of the date hereof, from each of the Placement Agents (as
defined below) to, inter alia, the Issuer and us (collectively, the “Offeree Letters”). 
 We have also examined originals
or copies, certified or otherwise identified to our satisfaction, of such records of the Opinion Parties and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Opinion Parties and
others, and such other documents as we have deemed necessary or appropriate as a basis for the opinions stated below. 
 In our examination,
we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all
documents submitted to us as facsimile, electronic, certified or photocopied copies, and the authenticity of the originals of such copies. As to any facts relevant to the opinions stated herein that we did not independently establish or verify, we
have relied upon statements and representations of officers and other representatives of the Opinion Parties and others and of public officials, including the facts and conclusions set forth in the Opinion Certificate and the Organizational
Certificate and the factual representations and warranties contained in the Transaction Documents. 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 4 
 America, (iii) the Delaware Limited
Liability Company Act (the “DLLCA”) and (iv) the UCC (as defined below). 
 As used herein: 

(i) “Delaware Filing Office” means the office of the Secretary of State of the State of Delaware. 

(ii) “Delaware UCC” means the Uniform Commercial Code as in effect on the date hereof in the State of Delaware. 

(iii) “Depositary Accounts” means (A) account number, with account name “GSRP PORTFOLIO Revenue Acct”; (B)
account number, with account name “GSRP PORTFOLIO DSRA Account”; (C) account number, with account name “GSRP PORTFOLIO Dist Res Account”; (D) account number, with account name “GSRP PORTFOLIO Mand Prepay Acct”; (E)
account number, with account name “GSRP PORTFOLIO LC Reimburse Acct”; (F) account number, with account name “GSRP PORTFOLIO Sr. Nts DPA”; (G) account number, with account name “GSRP PORTFOLIO Sub Nts DPA”; (H) account
number, with account name “GSRP PORTFOLIO Add Sec Dt Pmt Ac”; (I) account number, with account name “GSRP PORTFOLIO Supplemental Res Ac” and (J) account number, with account name “GSRP PORTFOLIO Buyout Reserve
Acct”, each established at the Depositary. 
 (iv) “Grantor” means each of the Issuer and each Initial Guarantor. 

(v) “Grantor UCC Collateral” means that portion of the Article 9 Collateral (as defined in the Security Agreement) in which a
security interest may be created under Article 9 of the New York UCC. 
 (vi) “Hague Securities Convention” means the
Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary, July 5, 2006, 17 U.S.T. 401, 46 I.L.M. 649, as in effect on the date hereof in the United States of America. 

(vii) “NAIC” means the National Association of Insurance Commissioners. 

(viii) “New York UCC” means the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

(ix) “Organizational Documents” means, collectively, the Certified Charters and the LLC Agreements. 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 5 
 (x) “Placement
Agents” means, collectively, Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., HSBC Securities (USA) Inc. and Citigroup Global Markets Inc., each in its capacity as a placement agent under the Engagement Letters (as defined
in the Offeree Letters). 
 (xi) “Pledged Collateral” means all Pledged Equity (as defined in the Security Agreement) in
the Issuer, to the extent a security interest may be created therein under Article 9 of the New York UCC. 
 (xii) “Possessory
Certificates” means those certificates identified on Schedule II hereto, to the extent a security interest may be created therein under Article 9 of the New York UCC. 

(xiii) “Securities” means the Guarantees and the Notes. 

(xiv) “Transaction Documents” means the documents listed in paragraphs (a) through (f) above. 

(xv) “UCC” means (a) the New York UCC and/or (b) the Delaware UCC, as applicable. 

(xvi) “UCC Collateral” means the Pledged Collateral and the Grantor UCC Collateral. 

Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that: 

1. Based solely on our review of the Delaware Certificates, each Opinion Party is duly formed and is validly existing and in good standing
under the DLLCA. 
 2. Each of Holdings and each Initial Guarantor has the limited liability company power and authority to execute, deliver
and perform all its obligations under each of the Transaction Documents (other than the Note Certificates) to which such Opinion Party is a party under the DLLCA. 

3. The Issuer has the limited liability company power and authority to execute and deliver each of the Transaction Documents to which the
Issuer is a party and to consummate the issuance and sale of the Notes contemplated thereby under the DLLCA. 
 4. Each of the Transaction
Documents (other than the Note Certificates) to which an Opinion Party is a party has been duly authorized, executed and delivered by all requisite limited liability company action on the part of such Opinion Party under the DLLCA. 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 6 
 5. Each of the Transaction
Documents (other than the Note Certificates) to which an Opinion Party is a party constitutes the valid and binding obligation of such Opinion Party, enforceable against such Opinion Party in accordance with its terms under the laws of the State of
New York. 
 6. Neither the (i) execution and delivery by each Opinion Party of the Transaction Documents to which such Opinion Party
is a party nor (ii) the performance by such Opinion Party of its obligations under the Transaction Documents (other than the Note Certificates) to which such Opinion Party is a party conflicts with the Organizational Documents of such Opinion
Party or violates the DLLCA, or any law, rule or regulation of the State of New York or the United States of America. 
 7. The consummation
by the Issuer of the issuance and sale of the Notes contemplated by the Note Purchase Agreement and the Note Certificates does not: (a) conflict with the Organizational Documents of the Issuer or (b) violate the DLLCA, or any law, rule or
regulation of the State of New York or the United States of America. 
 8. None of the (i) execution and delivery by each Opinion Party
of the Transaction Documents to which such Opinion Party is a party, (ii) the enforceability of each of the Transaction Documents (other than the Note Certificates) to which such Opinion Party is a party against such Opinion Party, or
(iii) the consummation by the Issuer and the Initial Guarantors of the issuance and sale of the Securities contemplated by the Note Purchase Agreement and the Note Certificates requires the consent, approval, licensing or authorization of, or
any filing, recording or registration with, any governmental authority under the DLLCA or any law, rule or regulation of the State of New York or the United States of America except for those consents, approvals, licenses and authorizations already
obtained and those filings, recordings and registrations already made. 
 9. Each Opinion Party is not and, solely after giving effect to
the offering and sale of the Notes, the extensions of credit made on the date hereof pursuant to the Transaction Documents, and the application of the proceeds of the sale of the Notes as described in the Note Purchase Agreement, will not be an
“investment company” as such term is defined in the Investment Company Act of 1940, as amended. 
 10. The Note Certificates have
been duly authorized by all requisite limited liability company action on the part of the Issuer and duly executed by the Issuer under the DLLCA and, when issued and delivered by the Issuer against payment therefor in accordance with the terms of
the Note Purchase Agreement, the Note Certificates will constitute valid and binding obligations of the Issuer, entitled to the benefits of the Note Purchase Agreement and enforceable against the Issuer in accordance with their terms under the laws
of the State of New York. 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 7 
 11. Assuming (i) the
accuracy of the representations and warranties of the Opinion Parties set forth in Section 5.12 of the Note Purchase Agreement and of each of the Purchasers set forth in Section 6 of the Note Purchase Agreement, (ii) the due
performance by the Opinion Parties of the covenants and agreements set forth in Section 14.2 of the Note Purchase Agreement and the due performance by the Purchasers of the covenants and agreements set forth in Section 6 of the Note
Purchase Agreement, and (iii) the accuracy of the representations and warranties of the Placement Agents and compliance by the Placement Agents with the covenants and agreements of the Placement Agents, in each case contained in the Offeree
Letters, the offer, sale and delivery of the Securities to the Purchasers in the manner contemplated by the Note Purchase Agreement does not require registration under the Securities Act of 1933, as amended (the “Securities Act”) or
qualification under the Trust Indenture Act of 1939. 
 12. Assuming that each Opinion Party complies with the provisions of the LC Facility
Agreement relating to the use of proceeds, the making of the loans or the other extensions of credit under the LC Facility Agreement will not violate Regulation U or X of the Board of Governors of the Federal Reserve System. 

13. Under the New York UCC, the provisions of the Security Agreement are effective to create a security interest in each Grantor’s rights
in the Grantor UCC 
 Collateral in favor of the First Lien Collateral Agent to secure the First Lien Obligations (as defined in the
Intercreditor Agreement). 
 14. Under the New York UCC, the provisions of the Security Agreement are effective to create a security
interest in Holdings’ rights in the Pledged Collateral in favor of the First Lien Collateral Agent to secure the First Lien Obligations (as defined in the Intercreditor Agreement). 

15. Under the Delaware UCC, each Delaware Financing Statement is in sufficient form for filing in the Delaware Filing Office. 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 8 
 16. Under the Delaware UCC,
the security interest of the First Lien Collateral Agent will be perfected in each Grantor’s rights in that portion of the Grantor UCC Collateral in which a security interest can be perfected under the Delaware UCC by the filing of a financing
statement in the Delaware Filing Office upon the later of the attachment of the security interest and the filing of the Delaware Financing Statement identifying such Grantor as debtor in the Delaware Filing Office. 

17. Under the Delaware UCC, the security interest of the First Lien Collateral Agent will be perfected in Holdings’ rights in that
portion of the Pledged Collateral in which a security interest can be perfected under the Delaware UCC by the filing of a financing statement in the Delaware Filing Office upon the later of the attachment of the security interest and the filing of
the Delaware Financing Statement identifying Holdings as debtor in the Delaware Filing Office. 
 18. Under the New York UCC, upon the
delivery to the First Lien Collateral Agent on the date hereof of the Possessory Certificates, the security interest of the First Lien Collateral Agent in each Opinion Party’s rights in the Possessory Certificates pledged by such Opinion Party
will be perfected. 
 19. Under the New York UCC, the provisions of the Depositary Agreement are effective to perfect the security interest
of the First Lien Collateral Agent in the Issuer’s rights in the Depositary Accounts. 
 The opinions stated herein are subject to the
following qualifications: 
 (a) we do not express any opinion with respect to the effect on the opinions stated herein of any bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer, preference and other similar laws affecting creditors’ rights generally, and the opinions stated herein are limited by such laws and by general principles of equity (regardless of
whether enforcement is sought in equity or at law); 
 (b) except to the extent expressly stated in the opinions contained herein, we do not
express any opinion with respect to the effect on the opinions stated herein of (i) the compliance or non-compliance of any party to any of the Transaction Documents with any laws, rules or regulations
applicable to such party or (ii) the legal status or legal capacity of any party to any of the Transaction Documents; 
 (c) except to
the extent expressly stated in paragraphs 9 and 12, we do not express any opinion with respect to any law, rule or regulation that is applicable to any party to any of the Transaction Documents or the transactions contemplated thereby solely because
such law, rule or regulation is part of a regulatory regime applicable to any such party or any of its affiliates as a result of the specific assets or business operations of such party or such affiliates; 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 9 
 (d) except to the extent
expressly stated in paragraphs 9, 11 and 12, we do not express any opinion with respect to any securities, antifraud, consumer credit, debt collection, privacy, derivatives or commodities laws, rules or regulations, Regulations T, U or X of the
Board of Governors of the Federal Reserve System or laws, rules or regulations relating to national security; 
 (e) except to the extent
expressly stated in the opinions contained herein, we have assumed that each of the Transaction Documents constitutes the valid and binding obligation of each party to such Transaction Document, enforceable against such party in accordance with its
terms; 
 (f) the opinions stated herein are limited to the agreements and documents specifically identified in the opinions contained
herein without regard to any agreement or other document referenced in such agreement or document (including agreements or other documents incorporated by reference or attached or annexed thereto); 

(g) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document relating to any
indemnification, contribution, non-reliance, exculpation, release, limitation or exclusion of remedies, waiver or other provisions having similar effect that may be contrary to public policy or violative of
federal or state securities laws, rules or regulations, or to the extent any such provision purports to, or has the effect of, waiving or altering any statute of limitations; 

(h) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document purporting to
prohibit, restrict or condition the assignment of rights under such Transaction Document to the extent that such prohibition, restriction or condition on assignability is ineffective pursuant to the Uniform Commercial Code; 

(i) to the extent that any opinion relates to the enforceability of the choice of New York law and choice of New York forum provisions
contained in any Transaction Document, the opinions stated herein are subject to the qualification that such enforceability may be subject to, in each case, (i) the exceptions and limitations in New York General Obligations Law sections 5-1401 and 5-1402 and (ii) principles of comity and constitutionality; 

(j) we call to your attention that irrespective of the agreement of the parties to any Transaction Document, a court may decline to hear a
case on grounds of forum non conveniens or other doctrine limiting the availability of such court as a forum for resolution of disputes; in addition, we call to your attention that we do not express any opinion with respect to the subject matter
jurisdiction of the federal courts of the United States of America in any action arising out of or relating to any Transaction Document; 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 10 
 (k) we call to your attention
that pursuant to Section 12.23 of the LC Facility Agreement the parties have contractually agreed to the override of certain rights under the LC Facility Agreement and to future actions that may be taken by the Federal Deposit Insurance
Corporation in connection therewith; we do not express any opinion with respect to the enforceability of such section or the effect of any such future actions on any of the opinions herein stated; 

(l) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document granting any
person any right to set off or apply any deposit, property or indebtedness except to the extent that the debt between any Opinion Party and such person is a mutual debt; 

(m) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document to the extent any
such provision purports to, or has the effect of, waiving any statute of limitations; 
 (n) we have assumed that all conditions precedent
contained in Section 4.1 of the Note Purchase Agreement and Section 3.1 of the LC Facility Agreement, which conditions require the delivery of documents, evidence or other items satisfactory in form, scope and/or substance to the
Purchasers, the Administrative Agent, any LC Issuing Bank (as defined in the LC Facility Agreement) or any Lender (as defined in the LC Facility Agreement) or the satisfaction of which is otherwise in the discretion or control of the Purchasers, the
Administrative Agent, any LC Issuing Bank (as defined in the LC Facility Agreement) or any Lender (as defined in the LC Facility Agreement), have been, or contemporaneously with the delivery hereof will be, fully satisfied or waived; 

(o) we call to your attention that pursuant to Section 12.21 of the LC Facility Agreement (the
“Bail-In Clause”) the parties have agreed that, notwithstanding any other provisions of the LC Facility Agreement, the terms of the LC Facility Agreement may be unilaterally modified,
repudiated or terminated in the future by the EEA Resolution Authority (as such term is defined in the Bail-In Clause) and we do not express any opinion with respect to the enforceability of the Bail-In Clause or the effect of any such future actions on any of the opinions herein stated; 
 (p) we do
not express any opinion with respect to the enforceability of Section 13.2 of the Note Purchase Agreement or Section 7.1 of the LC Facility Agreement to the extent that either such section provides that the obligations of the Initial
Guarantors are absolute and unconditional irrespective of the enforceability or genuineness of the Note Purchase Agreement or the LC Facility Agreement, as applicable, or the effect thereof on the opinions herein stated; 

 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 11 
 (q) we do not express any
opinion with respect to the enforceability of the provisions contained in Section 13.4 of the Note Purchase Agreement or Section 7.10 of the LC Facility Agreement to the extent that such provisions limit the obligation of the Initial
Guarantors under the Note Purchase Agreement or the LC Facility Agreement, as applicable, or any right of contribution of any party with respect to Section 13 of the Note Purchase Agreement or Article VII of the LC Facility Agreement, as
applicable; 
 (r) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document
to the extent that such provision excuses the issuer of a letter of credit from liability to the extent that such provision is unenforceable pursuant to Section 5-103 of the Uniform Commercial Code; 

(s) certain of the remedial and procedural provisions with respect to the security contained in the Transaction Documents may be unenforceable
in whole or in part, but the Transaction Documents, taken as a whole, together with applicable law, contain adequate provisions for the practical realization of the benefits of the security created thereby; 

(t) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document providing any
waiver, release, disclaimer or any other variation of any right or duty of any party to the extent that any such waiver, release, disclaimer or other variation is not enforceable pursuant to Sections 1-302 or 9-602 of the Uniform Commercial Code; 
 (u) we call to your attention that provisions in more than one
security agreement purport to govern the rights and remedies of certain secured parties and/or impose obligations on the Opinion Parties with respect to the same collateral, and we advise you that a court may give effect to limitations contained in
any one of such agreements; 
 (v) except to the extent expressly stated in the opinions contained herein, we do not express any opinion
with respect to the creation, perfection or priority of any security interest; 
 (w) we do not express any opinion with respect to the
enforceability of Section 13.2 of the Note Purchase Agreement, Section 2.5(j) of the LC Facility Agreement, or Section 6.16 of the Security Agreement to the extent that such sections provide that either the rights and remedies of any
secured party and/or the liens in favor of any secured party are absolute and unconditional irrespective of the enforceability or genuineness of any Transaction Document or the effect thereof on the opinions herein stated; 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 12 
 (x) we do not express any
opinion with respect to the enforceability of any provisions contained in any Transaction Document to the extent that any Opinion Party is obligated to pay any fee or provide any other compensation or consideration in respect of brokering,
soliciting, driving or procuring any loan or forbearance or for making or renewing any bond, bill, note or other security given for or concerning such loan or forbearance in excess of the amount permitted pursuant to New York General Obligations Law
Section 5-531; 
 (y) we do not express any opinion with respect to the enforceability of any
provisions contained in any Transaction Document to the extent that such provisions provide for liquidated damages, acceleration of future amounts due (other than principal) without appropriate discount to present value, late charges, prepayment
charges, interest upon interest or forfeitures or the recovery of amounts deemed to constitute penalties; 
 (z) for purposes of opinion
paragraphs 6, 7 and 8, we have assumed compliance with Section 18-607 of the DLLCA to the extent any proceeds are used for the payment by any Opinion Party of a distribution as referred to in
Section 9.11 of the Note Purchase Agreement; 
 (aa) we have assumed the LLC Agreement of each Opinion Party is the only agreement of
the members of such Opinion Party as to the affairs of such Opinion Party and the conduct of its business, and we do not express any opinion with respect to the effect of any other agreement of the members of any such Opinion Party as to the affairs
of such Opinion Party and the conduct of its business. Further, we have assumed that each Opinion Party has, and since the time of its formation, has had, at least one validly admitted and existing member of such Opinion Party and (i) no
procedures have been instituted for, and no other event has occurred, including, without limitation, any action taken by any such Opinion Party or its respective members, that would result in, the liquidation, dissolution or winding-up of such Opinion Party, (ii) no event has occurred that has adversely affected the good standing of any such Opinion Party under the laws of its jurisdiction of formation, and each such Opinion Party
has taken all actions required by the laws of its jurisdiction of formation to maintain such good standing and (iii) no grounds exist for the revocation or forfeiture of any such Opinion Party’s Certified Charter; 

(bb) we have assumed that each of the Opinion Parties has rights or the power to transfer rights, and, with respect to after-acquired
property, will have rights or the power to transfer rights, in the UCC Collateral granted by it, and we do not express any opinion with respect to the nature or extent of any Opinion Party’s rights in any of the UCC Collateral granted by it;

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 13 
 (cc) the opinions stated
herein with respect to any security interest in proceeds are subject to the limitations set forth in Section 9-315 of the UCC; 

(dd) we do not express any opinion with respect to any security interest in commercial tort claims, timber to be cut or “cooperative
interests” (as defined in the New York UCC); 
 (ee) we do not express any opinion with respect to any security interest in any goods
that are accessions to, or commingled or processed with, other goods to the extent that the security interest therein is limited by Section 9-335 or 9-336 of the
UCC; 
 (ff) for purposes of Article 9 of the UCC, we have assumed that (i) the name of the secured party set forth on the Delaware
Financing Statements is sufficient, and (ii) the Certified Charter of each Grantor is the public organic record inclusive of the record most recently filed with or issued or enacted by such Grantor’s jurisdiction of organization which
purports to state, amend, or restate or correct such Grantor’s name, without regard to capitalization; 
 (gg) we note that the First
Lien Collateral Agent is identified as acting in a representative capacity, and we do not represent either the First Lien Collateral Agent or the beneficiaries for whom the First Lien Collateral Agent purports to act. We do not express any opinion
with respect to any security interest of the First Lien Collateral Agent for the benefit of any beneficiary for which it purports to act except to the extent the First Lien Collateral Agent is, on the date hereof, the trustee, indenture trustee,
agent, collateral agent or other representative (as such terms are used in the definition of “secured party” in the UCC) of such beneficiary; 

(hh) we do not express any opinion with respect to any security interest in any UCC Collateral subject to any restriction on or prohibition
against assignment or transfer contained in such UCC Collateral unless such restriction or prohibition is rendered ineffective pursuant to Part 4 of Article 9 of the UCC; 

(ii) we call to your attention that at the time the First Lien Collateral Agent exercises its remedies with respect to any UCC Collateral
consisting of an interest in a limited liability company, the right of the First Lien Collateral Agent to become a member in the respective limited liability company may be limited by applicable law and the terms of the limited liability company
agreement pursuant to which such limited liability company was formed, as amended from time to time, and that the only remedy may be the right to receive distributions to which the applicable Grantor is otherwise entitled pursuant to such limited
liability company agreement; 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 14 
 (jj) we do not express any
opinion with respect to any security interest in any copyrights, patents, trademarks, service marks or other intellectual property, the proceeds thereof or money due with respect to the lease, license or use thereof except to the extent that Article
9 of the UCC is applicable to the foregoing; 
 (kk) we do not express any opinion with respect to any security interest in any UCC
Collateral consisting of claims against any government or governmental agency (including without limitation the United States of America or any state or political subdivision thereof or any agency or department of the United States of America or any
state or political subdivision thereof); 
 (ll) we call to your attention that with respect to any UCC Collateral consisting of licenses or
permits issued by governmental authorities, the respective Grantor, as applicable, may not have sufficient rights therein for the security interest of the First Lien Collateral Agent to attach and, even if the applicable Grantor has sufficient
rights for the security interest to attach, the exercise of remedies with respect thereto may be limited by the terms of the license or permit or require the consent of the governmental authority issuing such license or permit; 

(mm) we do not express any opinion (i) whether the description of the Article 9 Collateral (as defined in the Security Agreement) is
sufficient to create and perfect a security interest in such collateral, except with respect to such items or portions of the description that describe such collateral as a type of collateral exactly as defined in the New York UCC (without
modifications thereto or exclusions therefrom), or (ii) on the effect of excluding Excluded Assets (as defined in the Security Agreement) on the sufficiency of the description of the collateral; 

(nn) we have assumed that each Depositary Account is either (i) a “securities account” (as defined in the New York UCC) and the
Depositary is a “securities intermediary” (as defined in the New York UCC) and is acting in such capacity in maintaining each Depositary Account or (ii) a “deposit account” (as defined in the New York UCC) and the Depositary
is a “bank” (as defined in the New York UCC) and is acting in such capacity in maintaining the applicable Depositary Accounts; 

(oo) we have assumed that none of the Possessory Certificates, Pledged Collateral or the Depositary Accounts constitute Excluded Assets (as
defined in the Security Agreement); 
 (pp) we do not express any opinion with respect to any security interest in any Possessory
Certificate except to the extent such Possessory Certificate is a “certificated security” (as defined in the New York UCC); 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 15 
 (qq) we do not express any
opinion as to the applicability or effect on the opinions stated herein of the Hague Securities Convention; and 
 (rr) our opinion with
respect to the security interest of the First Lien Collateral Agent in the Depositary Accounts is expressed solely to the extent the Depositary credits only “financial assets” (as defined in the New York UCC) to the Depositary Accounts.

 In addition, in rendering the foregoing opinions we have assumed that: 

(a) except to the extent expressly stated in the opinions contained herein with respect to the Opinion Parties, neither the authorization,
execution and delivery by each Opinion Party of the Transaction Documents to which such Opinion Party is a party, nor the performance by each Opinion Party of its obligations under each of the Transaction Documents to which such Opinion Party is a
party: (i) constitutes or will constitute a violation of, or a default under, any lease, indenture, instrument or other agreement to which any Opinion Party or their respective property is subject, (ii) contravenes or will contravene any
order or decree of any governmental authority to which any Opinion Party or its respective property is subject, or (iii) violates or will violate any law, rule or regulation to which any Opinion Party or its respective property is subject; and

 (b) except to the extent expressly stated in the opinions contained herein with respect to the Opinion Parties, neither the execution and
delivery by each Opinion Party of the Transaction Documents to which such Opinion Party is a party nor the enforceability of each of the Transaction Documents to which such Opinion Party is a party against such Opinion Party requires or will require
the consent, approval, licensing or authorization of, or any filing, recording or registration with, any governmental authority under any law, rule or regulation of any jurisdiction. 

This opinion is furnished only to you and is solely for your benefit in connection with the closing occurring today pursuant to the
Transaction Documents. Without our prior written consent, this opinion may not be used, circulated, quoted or otherwise referred to for any other purpose or relied upon by, or assigned to, any other person for any purpose, except that (i) the
Lenders and LC Issuing Banks (as each such term is defined in the LC Facility Agreement) who become party to the LC Facility Agreement pursuant to Section 10.14 of the LC Facility Agreement and, upon notice to us, any successor Administrative
Agent (as defined in the LC Facility Agreement) who becomes a party to the LC Facility Agreement pursuant to Section 10.6 of the LC Facility Agreement, any successor Collateral Agent (as defined in the Intercreditor Agreement) who becomes a
party to the Intercreditor Agreement pursuant to Section 7.8 of the Intercreditor Agreement, and any successor Depositary (as defined in the 

 To the Addressees Listed 

On Schedule I hereto 
 January 30,
2020 
 Page 16 
 Depositary Agreement) who becomes a party to
the Depositary Agreement pursuant to Section 4.4 of the Depositary Agreement are entitled to rely upon this opinion as though it had been addressed to them on the date hereof, (ii) this opinion may be furnished to, but not relied upon by,
bona fide potential assignees of an interest in the Notes under the Note Purchase Agreement in anticipation of an assignment in accordance with the express provisions of Section 14.2 of the Note Purchase Agreement, (iii) this opinion may
be furnished to, but not relied upon by, the NAIC and any insurance regulatory authority having jurisdiction over the respective Purchaser to the extent required by applicable law or regulation, and (iv) upon notice to us, this opinion may be
disclosed to, but not relied upon by, regulatory authorities having jurisdiction over any addressee hereof. 
 Very truly yours, 

A.M. 

 Schedule I 

Addressees 

 Schedule II 

Possessory Certificates 

 Schedule III 

LLC Agreements 

 Exhibit A 

Opinion Certificate 
 (see
attached) 

 Exhibit B 

Delaware Financing Statements 

(see attached) 

 EXHIBIT E 

to Note Purchase Agreement 

FORM OF INSURANCE CONSULTANT CERTIFICATE 
  

			
	

	  	 Moore-McNeil, LLC
 2002 Richard Jones Road

Suite A-307
 Nashville, TN
37215
 W moore-mcneil.com

 Insurance Consultant’s Closing Certificate 

_____________, 2020 
 MUFG Bank, Ltd., 

    as LC Facility Agent 
 1221 Avenue of the
Americas, 6th Floor 
 New York, NY 10020-1001 
 Attention:
Lawrence Blat 
 Phone: 212-405-6621 

E-mail: lawrence.blat@mufgsecurities.com, Agencydesk@us.sc.mufg.jp 

MUFG Union Bank, N.A., 
     as First Lien
Collateral Agent 
 1221 Avenue of the Americas, 19th Floor 

New York, NY 10020 
 Attention: Vanessa Williams 

Phone: (415) 273-2518 

Email: SFCT@unionbank.com 
 With a copy to: 

MUFG Union Bank, N.A. 
     as First Lien
Collateral Agent 
 1221 Avenue of the Americas 
 New York, New
York 10020 
 Attention: Marion Zinowski 
 Telephone: (646) 452-4783 
 Email: Marion.Zinowski@unionbank.com 

Re: Goldman Sachs Renewable Power LLC 

 Ladies and Gentlemen: 

The undersigned, a duly authorized representative of Moore-McNeil, LLC (the “Insurance Consultant”), hereby provides this
letter in accordance with (i) Section 4.1(p) of the Note Purchase Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase
Agreement”), among GSRP Portfolio I LLC (“Borrower”), GSRP Portfolio I HoldCo LLC (“Holdings”), the guarantors from time to time party thereto (“Guarantors”), MUFG Union Bank, N.A., as the
first lien collateral agent (the “First Lien Collateral Agent”), MUFG Union Bank, N.A., as the Notes Agent (the “Notes Agent”) and each purchaser from time to time party thereto (collectively the “First Lien
Purchasers”) and (b) Section 3.1(l) of the Credit and Guaranty Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Borrower, Holdings, the Guarantors, the several lenders and issuing banks party thereto from time to time (the “LC Facility Lenders” and the “LC Issuing Banks”, respectively), MUFG
Bank, Ltd., as administrative agent (in such capacity, the “LC Facility Agent”) and the First Lien Collateral Agent. Capitalized terms used but not otherwise defined in this letter shall have the meanings assigned to such terms
(whether directly or by reference to another agreement or document) in that certain Collateral Agency and Intercreditor Agreement, dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time,
the “Intercreditor Agreement”), among the Company, Holdings, Guarantors, the LC Facility Agent, the First Lien Collateral Agent, the Notes Agent and other persons from time to time party thereto. 

The Insurance Consultant hereby makes the following statements in favor of the Relying Parties (as defined below) with respect to the Borrower
and the Projects as of the date first mentioned above: 
  

	 	(1)	 The Insurance Consultant acknowledges that pursuant to the Financing Documents, the LC Facility Lenders, LC
Issuing Banks and First Lien Purchasers are providing financing to the Borrower, and in so doing are relying on this Insurance Consultant’s Certificate and the Insurance Consultant’s report dated December 5, 2019 (the
“Insurance Consultant’s Report”), with respect to the Projects. 

  

	 	(2)	 Attached hereto as Appendix I is an accurate and complete copy of the Insurance Consultant’s
Report. 

  

	 	(3)	 The Insurance Consultant’s Report was prepared in good faith by the Insurance Consultant pursuant to the
scope of services in accordance with generally accepted consulting practices using information provided to the Insurance Consultant by the Borrower and its Affiliates, counsel to the Borrower, and the Borrower’s insurance broker in respect of
the Projects, the accuracy of which has not been independently verified by the Insurance Consultant. 

 Trusted Independent
Insurance Advisor 

	 	(4)	 Since the date of the Insurance Consultant’s Report, nothing has come to the Insurance Consultant’s
attention which would materially affect, or cause it to change, the findings and conclusions included in the Insurance Consultant’s Report. The Insurance Consultant’s Report has not been modified, edited, altered or amended in any respect
by the Insurance Consultant since the date of the Insurance Consultant’s Report. 

  

	 	(5)	 The Insurance Consultant hereby confirms, as of the date hereof, the evaluation, conclusions and
recommendations contained in the Insurance Consultant’s Report represent the Insurance Consultant’s professional opinion and that such opinions are subject to the legal notice therein. 

 

	 	(6)	 In connection with the preparation of the Insurance Consultant’s Report, personnel of the Insurance
Consultant have participated in telephonic and/or email discussions with representatives of the Borrower, their Affiliates, and the Borrower’s insurance broker in respect of the Projects. 

 

	 	(7)	 The Insurance Consultant hereby confirms, as of the date hereof, that based upon the information provided to it
by or on behalf of the Borrower, insurance required to be obtained by the Borrower as outlined in Sections 4.1(p), and 9.2 of the Note Purchase Agreement and Sections 3.1(l), 4.24, and 5.2 of the Credit Agreement
(the “Required Insurance”) has been obtained, such Required Insurance is: (i) in full force and effect and complies in all material respects with the Required Insurance, (ii) all premiums due and payable on all such
Required Insurance have been paid in full or are not in arrears, (iii) evidence of insurance provided is reasonably consistent (except to the extent expressly noted in the Insurance Consultant’s Report) with the types and amounts noted in
the insurance requirements as set in the Material Project Documents that have been reviewed and summarized in Appendix B of the Insurance Consultant’s Report, except as otherwise stated therein, and (iv) the costs of such insurance
coverage for the first year of operation as shown in the Base Case Projections is reasonable and consistent with the Insurance Consultant’s Report for such period. 

 

	 	(8)	 Statements from the Borrower’s insurance broker as well as certificates of insurance and/or other
information representing compliance with the Required Insurance, copies of which are attached hereto as Appendix II, provide satisfactory evidence that the Borrower has complied with the terms and conditions of Sections 4.1(p), and
9.2 of the Note Purchase Agreement and Sections 3.1(l), 4.24, and 5.2 of the Credit Agreement. 

  

	 	(9)	 The Insurance Consultant has reviewed the Required Insurance and is familiar with the terms stated therein. It
is the Insurance Consultant’s opinion that the types and amounts of insurance specified in Sections 4.1(p), and 9.2 of the Note Purchase Agreement and Sections 3.1(l), 4.24, and 5.2 of the Credit Agreement are
reasonable and consistent with prudent industry standards for power generation projects of similar size and scope as the Projects. 

Trusted Independent Insurance Advisor 

	 	(10)	 The Insurance Consultant’s liability hereunder is limited as set forth in the Client Services Agreement,
dated as of October 5, 2018 and the Schedule of Work No. 01, dated as of August 29, 2019, between Alliant Services, Inc. and Goldman Sachs Asset Management L.P. 

The undersigned, on behalf of the Insurance Consultant, hereby confirms that the Relying Parties shall be permitted to rely on the Insurance
Consultant’s Report as if the Insurance Consultant’s Report was specifically addressed to the Relying Parties. 
 This letter is
not to be construed as legal advice or a legal opinion, nor shall any statement made herein be deemed to be relied upon as legal advice. This letter is not to be deemed as a warranty or guaranty that the insurance currently in force or required to
be in full force will remain in full force and effect. 
 The Insurance Consultant disclaims any obligation to update this reliance letter
after the date hereof. This reliance letter is not intended to be, and may not be, relied upon by any parties other than the Secured Parties and their respective affiliates, successors and permitted assigns (collectively, the “Relying
Parties”). A copy of the Insurance Consultant’s Report and this reliance letter may be furnished (i) to any governmental authority to whose regulations any Relying Party is subject or as otherwise required by law, rule or
regulation and (ii) in private communications to counsel, accountants or financial advisors of any Relying Party (it being understood that such persons to whom such disclosure is being made will be informed of the confidential nature of this
reliance letter and the Insurance Consultant’s Report and instructed to keep such information confidential). 
 SIGNATURE PAGE FOLLOWS

 Trusted Independent Insurance Advisor 

 IN WITNESS WHEREOF, the Insurance Consultant has caused this Insurance Consultant’s
Certificate to be duly executed and delivered by an authorized officer of the Insurance Consultant as of the date first above written. 
  

			
	Respectfully submitted,
		
		 	 MOORE-MCNEIL LLC,
 a Tennessee limited
liability company

		
	By:	 	 
	Name:	 	Sandy Calvert
	Title:	 	Sr. Vice President

 Trusted Independent Insurance Advisor 

 APPENDIX I 

Insurance Consultant’s Report 

(see attached) 
 Trusted
Independent Insurance Advisor 

 APPENDIX II 

Evidence of Insurance Compliance 

(see attached) 
 Trusted
Independent Insurance Advisor 

 EXHIBIT F 

to Note Purchase Agreement 

FORM OF INDEPENDENT ENGINEER CERTIFICATE 
 

 
 One Hallidie Plaza, Suite 401 

San Francisco, CA. 94102 

RELIANCE LETTER 

January ____, 2020 
 MUFG Bank, Ltd., 

    as LC Facility Agent 
 1221 Avenue of the
Americas 
 New York, NY 10020 
 Attention: Lawrence Blat Phone:
212-405-6621 
 E-mail:
lawrence.blat@mufgsecurities.com, Agencydesk@us.sc.mufg.jp 
 MUFG Union Bank, N.A., 

as First Lien Collateral Agent 
 1221 Avenue of the Americas, 19th
Floor 
 New York, NY 10020 
 Attention: Vanessa Williams 

Phone: (415) 273-2518 

Email: SFCT@unionbank.com 
 With a copy to: 

MUFG Union Bank, N.A. 
 as First Lien Collateral Agent 

1221 Avenue of the Americas 
 New York, New York 10020 

Attention: Marion Zinowski 
 Telephone: (646) 452-4783 
 Email: Marion.Zinowski@unionbank.com 

Ladies and Gentlemen: 

Re:     Goldman Sachs Renewable LLC Solar Portfolio IE Report (the “Report”) 

In order to finance the development, acquisition, construction, installation, testing, operation and use of a portfolio of solar photovoltaic
projects (the “Portfolio”), GSRP Portfolio I LLC, a limited liability company organized and existing under the laws of the State of Delaware (“Borrower”), entered into (a) that certain Note Purchase Agreement
dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Borrower, GSRP Portfolio I HoldCo LLC (“Holdings”), the
guarantors from 

  
 1 

 time to time party thereto, MUFG Union Bank, N.A, as first lien collateral agent (together with its
successors, designees and assigns in such capacity, the “First Lien Collateral Agent”), MUFG Union Bank, N.A., as the notes agent (the “Notes Agent”), and each purchaser from time to time party thereto and
(b) that certain Credit and Guaranty Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, the
guarantors from time to time party thereto, the several lenders and issuing banks party thereto from time to time, the First Lien Collateral Agent and MUFG Bank, Ltd., as LC facility agent (in such capacity, the “LC Facility
Agent”). Capitalized terms used but not defined herein shall have the meaning given in that certain Collateral Agency and Intercreditor Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise
modified from time to time, the “Intercreditor Agreement”), among the Borrower, Holdings, the guarantors from time to time party thereto, the LC Facility Agent, the First Lien Collateral Agent, the Notes Agent and other Persons from
time to time party thereto. 
 The Secured Parties, together with their respective directors, officers, employees, representatives, agents,
consultants, attorneys, successors and assigns, collectively shall be referred to herein as the “Reliance Parties”. 
 The
undersigned, a duly authorized representative of Enertis Solar Inc., (the “Consultant”), acknowledges that the Reliance Parties will be relying on the Report, a true, correct and complete copy of which is attached hereto as
Appendix A, and the Consultant consents to such reliance. The Report was prepared in good faith by the Consultant in accordance with generally accepted consulting and industry practices. Nothing has come to the attention of the Consultant as
of the date hereof that causes the Consultant to believe that the Report contains any untrue statements of material fact or omits to state a material fact necessary in order to make the statements made therein, in the light of the circumstances
under which they were made, not misleading. The Consultant hereby confirms, as of the date hereof that the evaluation, conclusions and recommendations contained in the Report are accurate and complete in all material respects. 

The Report has no other purpose and should not be relied on by any other persons or entities other than the Reliance Parties. The Reliance
Parties are advised that (a) the Report was originally prepared for the sole use of Goldman Sachs Asset Management, and (b) reliance by the Reliance Parties upon the Report or any information, opinions or assertions therein, and all rights
and liability arising therefrom, will be governed exclusively by the terms of the Proposal by and among Enertis and The Renewable Power Group of Goldman Sachs Asset Management, L.P., dated as of July 6, 2019, a true, correct and complete copy
of which is attached hereto as Appendix B. 
 [Signature page follows] 

  
 2 

 IN WITNESS WHEREOF, the undersigned, a duly qualified representative of the Independent
Engineer, has caused this Reliance Letter to be duly executed as of the date first above written. 
  

			
	Very truly yours,
	
	ENERTIS SOLAR INC.
		
	By:	 	 
	Name:	 	Inaki Herrero Arregui
	Title:	 	Managing Director – North America

  
 3 

 Appendix A 

Report 

  
 4 

 Appendix B 

Proposal 

  
 5 

 EXHIBIT G 

to Note Purchase Agreement 

FORM OF MARKET CONSULTANT CERTIFICATE 

Leidos Proprietary 

Agreement with Leidos Engineering, LLC for 

Use of Work Products in connection with 

GSRP Portfolio 
 This serves to document the
acknowledgement and agreement (the “Use Agreement”) between MUFG Union Bank, N.A., as First Lien Collateral Agent on behalf of, for the benefit of and with the authority to bind the First Lien Secured Parties under and as
defined in that certain Intercreditor Agreement, to be entered into among MUFG Bank, Ltd., as LC facility agent, the First Lien Collateral Agent, GSRP Portfolio I LLC and the other parties thereto (the First Lien Collateral Agent and First Lien
Secured Parties collectively, the “Recipients”) and Leidos Engineering, LLC (“Leidos”), with respect to the use of documents prepared by Leidos when providing Independent Market Consulting Services related to
the GSRP solar photovoltaic portfolio, including operating plants located in California, Arizona, New Jersey, Maryland, Massachusetts, Vermont, Utah, Alabama, Texas and Minnesota (the “Portfolio”).     

Effective July 17, 2019, Goldman Sachs Renewables Power LLC (the “Client” or “GSRP”) and Leidos executed a Task
Authorization (the “TA”), under a Master Professional Services Agreement, dated as of March 21, 2014 (as amended, the “MPSA”), for Leidos to provide an Independent Market Consultant’s Report (the
“Report”) for the purpose of supporting the investment of the Portfolio. 
 The Recipients intend to rely on the Report prepared under the
TA with Client and/or other analyses, data or information prepared by Leidos (collectively “Work Products”). In consideration of Leidos providing Work Products to the Recipients, the Recipients agree as follows: 

 

	1.	 The services provided by Leidos pursuant to the TA, and any Work Products, are intended to be used as described
in such Work Product and solely in connection with the Recipients’ financings of the Portfolio (the “Intended Purpose”). The Recipients shall have the right to use and rely on the Work Products for the Intended Purpose under
the terms of this Use Agreement. The Recipients agree that they will not use the Work Products in furtherance of any purpose other than the Intended Purpose. 

  

	2.	 The Recipients agree not to make any changes to the Work Products without the prior written approval of Leidos.

  

	3.	 Leidos acknowledges that the Recipients may provide copies of the Work Products for informational purposes to
its attorneys and consultants, potential financial parties, investors, underwriters, purchasers, advisors, representatives, insurance regulators or other parties in connection with the Intended Purpose or as required by law, regulation, legal,
administrative or regulatory process (the “Recipient Parties”) without Leidos’ prior consent and without changing the limitation of liability as defined below. However, the Recipients acknowledge and agree that the Recipient
Parties may only have the right to rely on the Work Products provided Leidos and the Recipient Parties enter into a use agreement substantially in the form of this Use Agreement or as otherwise agreed to in writing. For the avoidance of doubt, no
such agreement shall be required of persons receiving the Work Products from any Recipient or any Recipient Party as a result of a disclosure required by law, regulation, legal, administrative or regulatory process. 

The information in this document is proprietary to Leidos. 

It may not be used, reproduced, disclosed, or exported without the written approval of Leidos. 

 Leidos Proprietary 

 

	4.	 No employee of Leidos shall have individual liability to the Recipients. To the extent permitted by law, the
total aggregate liability of Leidos for any and all claims arising out of the MPSA, TA, this Use Agreement, and all other use agreements related to the Portfolio and any party’s use of or reliance upon the Work Products, including any claims
based upon negligence, errors, omissions, strict liability, breach of contract, contribution, or indemnity, shall not exceed one hundred fifty thousand dollars (U.S. $150,000.00), which limitation of liability shall not apply to any claims arising
from fraud, gross negligence or willful misconduct by Leidos. Leidos agrees that its costs related to developing the Report and the other Work Products are for the account of Client. 

 

	5.	 In no event and under no circumstances shall Leidos be liable to the Recipients for any principal, interest,
loss of anticipated revenues, earnings, profits, increased expense of operations, loss by reason of shutdown or non-operation due to late completion or otherwise or for any other economic, consequential,
indirect or special damages. 

  

	6.	 Any dispute or action which arises under this Use Agreement or which relates in any way to this Use Agreement,
the subject matter of this Use Agreement, or the Recipients’ use of or reliance upon the Work Products shall be subject to the exclusive jurisdiction of the U.S. District Court for the Southern District of New York State located in the City and
County of New York or, if that court does not have subject matter jurisdiction, in any State court located in the City and County of New York. Each party to this Use Agreement (i) agrees that such party shall bring any and all claims which
arise under this Use Agreement or which relate in any way to this Use Agreement, the subject matter of this Use Agreement, or the Recipients’ use of or reliance upon the Work Products (whether based on contract, tort or otherwise) solely in
such courts and that such claims shall be heard and determined exclusively in such courts, (ii) waives, to the fullest extent such party may effectively do so, the defense of an inconvenient forum, and (iii) agrees that a final judgment of
such courts shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

  

	7.	 This Use Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.
The parties also agree that New York law will apply to any claim and/or litigation arising out of, or in any way related to, the use of or reliance upon the Work Products. 

 

	8.	 The parties to this Use Agreement shall comply with all applicable United States export, sanctions, and foreign
import laws, rules, and regulations in the performance of the parties’ responsibilities and obligations under this Use Agreement. Without limiting the generality of the foregoing, the parties shall not provide or disclose any U.S.-origin
products, know-how, technical data, documentation, or other products or materials furnished to it pursuant to this Use Agreement, to any person, party, or in any manner which would constitute a violation of
the export control or sanctions regulations of the United States then in effect. 

 Leidos Proprietary 

ACKNOWLEDGED & AGREED 
 MUFG UNION BANK, N.A.,
not in its individual capacity, but solely as the First Lien Collateral Agent 
  

			
		
	 Signature
	 	 
	 Name
	 	 
	 Title
	 	 
	 Date
	 	 

  

			
	LEIDOS ENGINEERING, LLC
		
	 Signature
	 	 
	 Name
	 	 
	 Title
	 	 
	 Date
	 	 

 [GSRP - Signature Page to Leidos Use Agreement] 

	
	  
 EXHIBIT H

 
 to Note Purchase Agreement

 

	FORM OF OPERATING STATEMENT
	  
 (See attached)

																																																													
	Goldman Sachs Renewable Power	  	Historical Financials	 	  	Budgeted Financials	 	  	Variance (TTM)	 
	 Period
	  	Q1 2020	 	  	Q2 2020	 	  	Q3 2020	 	  	Q4 2020	 	  	2020	 	  	Q1 2020	 	  	Q2 2020	 	  	Q3 2020	 	  	Q4 2020	 	  	2020	 	  	Q1 2020	 	  	Q2 2020	 	  	Q3 2020	 	  	Q4 2020	 	  	2020	 
	 Key Metrics
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Technical
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Actual Production
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Estimated Production (P50)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 % Delta Vs. Budget
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Weather-Adjusted Production
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 % Delta Vs. Budget
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Availability (%)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Commodity Exposure (Average $/MWh)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Merchant Energy Prices
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Uncontracted SREC Prices
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Uncontracted REC Prices
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Financial Summary
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 PPA revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Contracted SREC / REC revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Capacity revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Merchant revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Uncontracted SREC / REC revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Ancillary revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Anchor net metering revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Non-anchor net metering revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Rental Income
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Other Revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Revenue Spare 1
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Revenue Spare 2
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Contracted Revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Merchant Revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total Revenue
	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 
	 Contracted revenue (% Total)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) O&M
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Asset management (incl. to 3rd Parties)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Admin & other (incl. insurance, reserves)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Property taxes
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Land lease
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Other
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Management Fee
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total Expenses
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 EBITDA
	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 EBITDA Margin (%)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Interest Income at Lower Levels
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 Project Level Interest Payments
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 Project Level Debt Amortization
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 Add back COGS for prepaid SRECS (non cash)
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 Less: Maint. Capex
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 Change of working capital & reserves
	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Cash flow from operations at portfolios
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Distributions to Third Parties
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			

  
 1 of 2 

																																																													
	 Goldman Sachs Renewable Power
	  	Historical Financials	 	  	Budgeted Financials	 	  	Variance (TTM)	 
	 Period
	  	Q1 2020	 	  	Q2 2020	 	  	Q3 2020	 	  	Q4 2020	 	  	2020	 	  	Q1 2020	 	  	Q2 2020	 	  	Q3 2020	 	  	Q4 2020	 	  	2020	 	  	Q1 2020	 	  	Q2 2020	 	  	Q3 2020	 	  	Q4 2020	 	  	2020	 
	 CFADS
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 (-) Interest Expense
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 (-) Amortization
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Cash flow available to Equity
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Senior Secured Debt
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Debt - BoP
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 (+) Issuance
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Amortization
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Debt - EoP
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 Interest Accrued
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Interest Expense
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			

  
 2 of 2 

 EXHIBIT I 

to Note Purchase Agreement 

FORM OF 

JOINDER AGREEMENT 

This Joinder Agreement (this “Agreement”), dated as of [_________], 20[__] is made by [INSERT NAME OF NEW GUARANTOR], (the
“New Guarantor”) in favor of MUFG Union Bank, N.A., as First Lien Collateral Agent (in such capacity, together with its permitted successors in such capacity, “First Lien Collateral Agent”), and each of the Purchasers
under the Note Purchase Agreement referred to below. 
 Reference is made to that certain Note Purchase Agreement, dated as of
January 30, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), by and among GSRP Portfolio I LLC, a Delaware limited liability company, GSRP Portfolio I HoldCo LLC,
a Delaware limited liability company, the Guarantors from time to time party thereto, the initial Purchasers from time to time party thereto, the First Lien Collateral Agent and MUFG Union Bank, N.A., as Notes Agent. All capitalized terms used
herein shall have the respective meanings specified, directly or by reference, in Exhibit A to the Note Purchase Agreement unless otherwise defined herein or unless the context requires otherwise. 

The undersigned is entering into this Agreement in order to become a Guarantor under the Note Purchase Agreement. 

The undersigned hereby becomes a Guarantor under the Note Purchase Agreement and agrees to comply with the terms thereof. 

The undersigned hereby acknowledges, agrees and confirms that, by the execution of this Agreement, the undersigned will be deemed to be a
party to the Note Purchase Agreement, and, from and after the date hereof, shall have all of the rights and obligations of a Guarantor thereunder as if it had executed the Note Purchase Agreement and this Agreement shall be deemed a Note Document
under the Note Purchase Agreement. The undersigned hereby ratifies, as of the date hereof, and accedes to and agrees to be bound by, all of the terms, provisions and conditions applicable to a Guarantor contained in the Note Purchase Agreement. 

The New Guarantor hereby makes the representations and warranties set forth in the Note Purchase Agreement with respect to itself and its
obligations under this Agreement, as if each reference in such articles and sections in the Note Purchase Agreement included reference to this Agreement, in each case solely with respect to such New Guarantor and its Subsidiaries. Subject to the
execution of this Agreement by the First Lien Collateral Agent, the Schedules to the Note Purchase Agreement shall be updated (i) to revise any existing Schedule to reflect the activities, events and other matters applicable to such New
Guarantor and its Subsidiaries required to be disclosed in order to make such representations and warranties, in each case to the extent that any such matters do not violate or contravene the provisions of the Financing Documents and
(ii) otherwise to the reasonable satisfaction of the First Lien Collateral Agent (acting at the instruction of the Required Holders), in each case as set forth on Attachment 1 hereto. 

  
 I-1 

 This Agreement may be executed in two or more counterparts, each of which shall constitute
an original but all of which when taken together shall constitute one and the same instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by electronic or facsimile transmission shall be effective as delivery of a manually executed counterpart of this Agreement or
such other document or instrument, as applicable. 
 This Agreement shall be governed by, and construed under, the laws of the State of New
York. THE NEW GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY. 
 [Remainder of page intentionally left blank; signature page follows.] 

  
 I-2 

 IN WITNESS WHEREOF, the New Guarantor has caused this Joinder Agreement to be duly executed
and delivered as of the day and year first above written. 
  

			
	[______________],
	as New Guarantor
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 GSRP PORTFOLIO I LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 GSRP PORTFOLIO I HOLDCO LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 GSRP HESTER HOLDCO LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	 Title:

  

			
	 GSRP GREAT JONES HOLDCO LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

  
 I-3 

 
			
	 GSRP PARK HOLDCO LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 GSRP MUSTANG LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 GSRP CHARLES HOLDCO LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 ELIZABETH CADY LESSEE HOLDCO LLC

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  

			
	 Accepted and agreed:

 

	 MUFG UNION BANK, N.A.,

	 as First Lien Collateral Agent

		
	By:	 	 
		 	 Name:

		 	 Title:

  

  
 I-4 

 Attachment 1 

to Joinder Agreement 

Schedules 

  
 I-5 

 EXHIBIT J 

to Note Purchase Agreement 

FORM OF SUBORDINATION AGREEMENT 

See attached 

 FORM OF SUBORDINATION AGREEMENT 

THIS SUBORDINATION AGREEMENT, dated as of ___________, 20__ (as amended, restated, amended and restated, supplemented or otherwise
modified from time to time in accordance with the terms hereof, this “Agreement”), by and among GSRP Portfolio I LLC, a Delaware limited liability company (the “Company”), GSRP Portfolio I HoldCo LLC,
a Delaware limited liability company (“Holdings”), certain other subsidiaries of the Company, as guarantors under the Note Purchase Agreement (as defined below) (the “Guarantors” and together with
Holdings and the Company, the “Obligors”), MUFG Union Bank, N.A., in its capacity as first lien collateral agent for the First Lien Secured Parties (in such capacity, together with its successors and assigns, the
“First Lien Collateral Agent”), [_________, in its capacity as second lien collateral agent for the Second Lien Secured Parties (as defined in the Intercreditor Agreement) (in such capacity, together with its successors and
assigns, the “Second Lien Collateral Agent”)]1 and __________, as the noteholder representative (the “Subordinate Noteholder Representative”) for the holders of the Series _____ Notes (defined below)
under that certain Supplemental NPA (as defined below). Capitalized terms used in this Agreement (including in this introductory paragraph) have the meanings assigned to them in Section 1.1 below. 

RECITALS: 

WHEREAS, the Obligors, the purchasers thereto and the Senior Agent have entered into that certain Note Purchase Agreement, dated as of
January 30, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), pursuant to which, subject to the terms and conditions thereof, the
Company issued and sold to each initial purchaser and each initial purchaser party thereto purchased from the Company senior secured notes in an aggregate principal amount set forth therein (the “Senior Notes”); 

WHEREAS, the Company, the other Obligors, MUFG Bank, Ltd., as letter of credit facility agent (the “LC Facility
Agent”), the Senior Agent, the issuing banks and letter of credit lenders party thereto have entered into that certain Credit and Guaranty Agreement, dated as of January 30, 2020 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “LC Facility Credit Agreement”), providing, subject to the terms and conditions thereof, for letters of credit, the reimbursement of amounts drawn on such letters of
credit, and other financial accommodations to the Company in an aggregate principal amount set forth therein; 
 [INSERT ADDITIONAL
RECITALS AS NEEDED RELATING TO ANY OTHER 
 INTERIM ISSUANCES OF ADDITIONAL PERMITTED SECURED INDEBTEDNESS 

OR ADDITIONAL SECURED NOTES OR SUBORDINATE NOTES UNDER THE 

NOTE PURCHASE AGREEMENT PRIOR TO THIS SUBORDINATION 

AGREEMENT] 
  

	1 	 Note to Draft: To be inserted to the extent any second lien Subordinate Notes have been issued
prior to the date of this Subordination Agreement. 

 WHEREAS, pursuant to the terms, conditions and provisions of the Collateral Agency
and Intercreditor Agreement, dated as of January 30, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”) among the Company, the other
Obligors, the LC Facility Agent, the Senior Agent and each of the other party from time to time party thereto, the parties have agreed to, among other things, determine certain rights, obligations and priorities in respect of the liens thereunder;

 WHEREAS, pursuant to the terms of the Note Purchase Agreement, the Company may issue and sell, subject to the terms of the Note
Purchase Agreement, an unlimited amount of subordinate notes in accordance with the terms of the Note Purchase Agreement and one or more supplemental note purchase agreements;     

WHEREAS, pursuant to that certain [Number] Supplemental Note Purchase Agreement, dated as of the date hereof (as amended,
restated, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time, the “Supplemental NPA”), by and among the Company, the other Obligors, the Subordinate Noteholder Representative and
the Purchasers party thereto, the Purchasers have agreed to purchase Series _____ unsecured [fixed] rate term notes issued by the Company in an aggregate principal amount of up to $_______ (the “Series _____ Notes”); 

WHEREAS, in accordance with the Senior Debt Documents, the Senior Creditors have required the execution and delivery of this Agreement
by the Subordinate Noteholder Representative, on behalf of each Subordinated Creditor, in order to set forth the relative rights and priorities of Senior Agent, the other First Lien Secured Parties, the Subordinate Noteholder Representative and the
Subordinated Creditors under the Financing Documents; and 
 WHEREAS, as of the date hereof, the First Lien Collateral Agent is the
Applicable Collateral Agent (under and as defined in the Intercreditor Agreement). 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
Definitions and Interpretation. 
 1.1 Definitions. Capitalized terms not otherwise defined in this Agreement
shall have the meanings attributed to them in the Supplemental NPA as in effect on the date hereof, including, to the extent applicable, by reference to the Note Purchase Agreement, or, if not defined herein or therein, the meanings given to those
terms in the Uniform Commercial Code as in effect from time to time in the State of New York. The following terms used herein (including in the introductory paragraph hereof and the recitals hereto) shall have the following respective meanings: 

“Act of Required Secured Parties” has the meaning given in the Intercreditor Agreement. 

“Agreement” has the meaning given in the introductory paragraph. 

  
 2 

 “Bankruptcy Code” shall mean Title 11 of the United States Code, as
amended from time to time, and any successor statute and all rules and regulations promulgated thereunder. 

“Collateral” has the meaning given in the Intercreditor Agreement. 

“Company” has the meaning given in the introductory paragraph. 

“Depositary Agreement” shall mean that certain Depositary Agreement, dated as of January 30, 2020, among the
Company, the LC Facility Agent, the Senior Agent, the Depositary Bank and the other Persons from time to time party thereto. 

“Depositary Bank” shall mean MUFG Bank, Ltd., as the depositary bank, and its successors and assigns in such capacity.

 “Distribution” shall mean, with respect to any indebtedness, ownership interest or other obligations,
(a) any payment or distribution by any Obligor of cash, securities or other property, by set-off or otherwise, on account of such indebtedness, ownership interest or obligation, including, without
limitation, any adequate protection payments, reimbursement of fees and expenses and indemnities, or (b) any redemption, purchase or other acquisition of such indebtedness, ownership interest or obligation by any Obligor. 

“Enforcement Action” shall mean (a) to take from or for the account of any Obligor, by set-off or in any other manner, the whole or any part of any moneys which may now or hereafter be owing by any Obligor (other than Permitted Payments expressly permitted to be paid in accordance with
Section 2.2), (b) to sue for payment of all or any portion of the Subordinated Debt, or to initiate or participate with others in any suit, action or proceeding against any Obligor to (i) enforce payment of or to collect the whole
or any part of the Subordinated Debt, (ii) commence or participate with others in commencing a Proceeding in respect of any Obligor or any assets of any Obligor or (iii) commence judicial enforcement of any of the rights and remedies under
the Subordinated Debt Documents or applicable law with respect to the Subordinated Debt, (c) to accelerate the Subordinated Debt, (d) to cause any Obligor to honor any redemption or mandatory prepayment obligation under any Subordinated
Debt Document (other than Permitted Payments expressly permitted to be paid in accordance with Section 2.2) or (e) to take any action under the provisions of any state or federal law, including, without limitation, the Uniform
Commercial Code, or under any contract or agreement, to enforce, foreclose upon, take possession of or sell any property or assets of any Obligor. 

“First Lien Collateral Agent” has the meaning given in the introductory paragraph. 

“Holdings” has the meaning given in the recitals. 

“Intercreditor Agreement” has the meaning given in the recitals. 

“LC Facility Agent” has the meaning given in the recitals. 

“LC Facility Credit Agreement” has the meaning given in the recitals. 

“Note Purchase Agreement” has the meaning given in the recitals. 

  
 3 

 “Obligors” has the meaning given in the recitals. 

“Paid in Full” or “Payment in Full”, when used in connection with the Senior Debt, shall mean
the occurrence of all of the following: (i) termination or expiration of all commitments to extend credit that would constitute Senior Debt, (ii) payment in full in cash of all of the Senior Debt (other than outstanding letters of credit
(which shall be addressed as provided in clause (iii) below) and contingent reimbursement or indemnity obligations as to which no claim has been asserted), including interest, fees or other amounts accruing (or which would, absent the
commencement of any Proceeding of any Obligor, accrue) on or after the commencement of any Proceeding of any Obligor, whether or not such amounts would be allowed in any Proceeding of any Obligor, and including any make-whole amount or other premium
on any such Senior Debt and (iii) termination, cancellation, expiration or cash collateralization at 102.5% of the available amount (in a manner reasonably acceptable to the Secured Debt Representative of the relevant Senior Creditors that have
reimbursement obligations with respect thereto and the applicable issuing banks) of all outstanding letters of credit and obligations in connection therewith or alternative arrangements satisfactory to the applicable Senior Creditors, the applicable
issuing bank and the other applicable Secured Parties that have reimbursement obligations with respect thereto have been made; provided that Senior Debt shall be deemed to be Paid in Full at such time as the applicable Secured Debt
Representative thereof has expressly acknowledged in a “payoff letter” or comparable written document the termination of the Senior Debt Documents, the payment in full of all outstanding obligations thereunder (excluding contingent
obligations to the extent no claim giving rise thereto has been asserted), the collateralization (or termination) of all outstanding letters of credit (if any) in accordance with the Senior Debt Documents and the termination of all commitments under
the Senior Debt Documents. 
 “Permitted Judgment Liens” shall mean any Lien arising as a result of any judgment
received in an Enforcement Action otherwise permitted hereunder; provided, that, such judgment Lien shall be subordinated to the Senior Debt to the extent set forth herein. 

“Permitted Payments” has the meaning given in Section 2.2. 

“Post-Petition Interest” shall mean interest accruing in respect of Senior Debt after the commencement of any
Proceeding by or against any Obligor, at the rate applicable to such Senior Debt pursuant to the applicable Senior Debt Documents, whether or not such interest is allowed as a claim enforceable against such Obligor in a bankruptcy case under the
Bankruptcy Code, and any other interest that would have accrued but for commencement of such Proceedings. 

“Proceeding” shall mean any voluntary or involuntary insolvency, bankruptcy, receivership, custodianship, liquidation,
dissolution, reorganization, assignment for the benefit of creditors, appointment of a custodian, receiver, trustee or other officer with similar powers or any other proceeding for the liquidation, dissolution or other winding up of a Person. 

“Recovery” has the meaning given in Section 2.3(h). 

“Second Lien Collateral Agent” has the meaning given in the introductory paragraph. 

  
 4 

 “Secured Debt Representative” has the meaning given in the
Intercreditor Agreement. 
 “Senior Agent” shall mean the Applicable Collateral Agent under and as defined in the
Intercreditor Agreement. 
 “Senior Creditors” shall mean the First Lien Secured Parties (as defined in the
Intercreditor Agreement) and, from and after the joinder of a Second Lien Collateral Agent to the Intercreditor Agreement, the Second Lien Secured Parties (as defined in the Intercreditor Agreement). 

“Senior Debt” shall mean all obligations, liabilities and indebtedness of every nature of the Obligors from time to
time owed to any Senior Creditor under the Senior Debt Documents, including, without limitation, the principal amount of all debts, claims and indebtedness, accrued and unpaid interest, and all fees, costs and expenses, whether primary, secondary,
direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the filing of a Proceeding, including a Proceeding under the Bankruptcy Code, together with (a) any
amendments, modifications, renewals or extensions thereof to the extent not prohibited by the terms of this Agreement and (b) any Post-Petition Interest. 

“Senior Debt Documents” shall mean the First Lien Documents (as defined in the Intercreditor Agreement) and, from and
after the joinder of a Second Lien Collateral Agent to the Intercreditor Agreement, the Second Lien Secured Parties (as defined in the Intercreditor Agreement). 

“Senior Notes” has the meaning given in the recitals. 

“Series Notes” has the meaning given in the recitals. 

“Subordinate Noteholder Representative” has the meaning given in the introductory paragraph. 

“Subordinated Creditor” shall mean the Subordinate Noteholder Representative and all purchasers and holders of the
Subordinate Notes. 
 “Subordinated Debt” shall mean all of the obligations, liabilities and indebtedness of the
Obligors to the Subordinated Creditors evidenced by or incurred pursuant to the Subordinate Notes and the other the Subordinated Debt Documents, including, without limitation, the principal amount of all debts, claims and indebtedness, including,
without limitation, accrued and unpaid interest and all fees, costs and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the
filing of a Proceeding under the Bankruptcy Code, together with any amendments, modifications, refinancings, renewals or extensions thereof to the extent not prohibited by the terms of this Agreement. 

  
 5 

 “Subordinated Debt Documents” shall mean this Agreement, the
Subordinate Notes, the [Number] Supplemental NPA, the Note Purchase Agreement solely as it relates to the Subordinated Debt and all other documents, agreements and instruments now existing or hereinafter entered into evidencing or pertaining
to all or any portion of the Subordinated Debt. 
 [“Subordinated Debt Final Maturity Date” shall mean _______.]

 “Supplemental NPA” has the meaning given in the recitals. 

1.2 Interpretation. Except as otherwise expressly provided or unless the context otherwise requires, the rules of interpretation
set forth in Section 23.4 of the Note Purchase Agreement shall apply to this Agreement. 
 2. Subordination. 

2.1 Subordination of Subordinated Debt to Senior Debt. Each Subordinated Creditor by its acceptance of the Subordinated Debt
Documents (whether upon original issue or upon transfer or assignment) covenants and agrees, notwithstanding anything to the contrary contained in any of the Subordinated Debt Documents, that the payment of any and all of the Subordinated Debt shall
be subordinate and subject in right and time of payment, to the extent and in the manner hereinafter set forth, to the Payment in Full of all Senior Debt, whether now outstanding or hereafter incurred; provided that nothing contained herein
shall modify the obligations of the Obligors to Subordinated Creditors set forth in the Subordinated Debt Documents. Each Senior Creditor, whether its Senior Debt is now outstanding or hereafter created, incurred, assumed or guaranteed, shall be
deemed to have acquired Senior Debt in reliance upon the provisions contained in this Agreement, and the subordination contemplated by this Section 2 shall be for the benefit of, and enforceable by, each such Senior Creditor. 

2.2 Permitted Subordinated Debt Payments. Except as expressly set forth in this Section 2, unless and until the Senior Debt
is Paid in Full, no Obligor shall directly or indirectly, declare, order, pay, make or set apart any sum or 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 the Subordinated Debt except in accordance with the terms of the Subordinated Debt Documents as in effect on the date hereof and only to the extent such redemption,
purchase, defeasance or payment is made with Permitted Payments, and the Subordinated Creditors shall not accept, take, receive or retain, by payment, in cash or in kind, by way of setoff, or in any other manner, from or on behalf of any Obligor the
whole or any part of any sums which may now or hereafter be owing to the Subordinated Creditors, other than, in each case, payments made pursuant to and in accordance with Sections 3.1(b)(vi), 3.1(b)(vii), 3.1(b)(viii)(i), and 3.8 of the Depositary
Agreement as in effect on the date hereof or with amounts to the extent permitted to be distributed by the Company pursuant to Section 3.3(c) of the Depositary Agreement as in effect on the date hereof (collectively, the “Permitted
Payments”). Subject to the conditions set forth herein, the Obligors may pay to the Subordinated Creditors, and the Subordinated Creditors may accept and receive on account of the Subordinated Debt, Permitted Payments. 

  
 6 

 2.3 Liquidation, Dissolution, Bankruptcy. In the event of any Proceeding with
respect to any Obligor: 
 (a) All Senior Debt shall first be Paid in Full before any Distribution, whether in cash,
securities or other property, shall be made to any Subordinated Creditor on account of any Subordinated Debt. 
 (b) Any
Distribution, whether in cash, securities or other property which would otherwise, but for the terms hereof, be payable or deliverable in respect of the Subordinated Debt shall be paid or delivered directly to Senior Agent (to be held and/or applied
by Senior Agent in accordance with the terms of the Senior Debt Documents) until all Senior Debt is Paid in Full. Each Subordinated Creditor irrevocably authorizes, empowers and directs any debtor, debtor in possession, receiver, trustee,
liquidator, custodian, conservator or other Person having authority, to pay or otherwise deliver all such Distributions to Senior Agent. Each Subordinated Creditor hereby irrevocably authorizes, empowers and appoints Senior Agent as its agent and
attorney in fact to demand, sue for, collect and receive any and all such Distributions upon prior written demand from the Senior Agent to such Subordinated Creditor; provided that such Distributions are to be held and/or applied by Senior
Agent in accordance with the terms of the Senior Debt Documents until all Senior Debt is Paid in Full, and provided further that Senior Agent shall not have any obligation to demand, sue for, collect and receive any such Distributions. 

(c) The Subordinated Creditors shall retain, exclusively, all rights to enforce and to vote all proofs of claim and otherwise
to act in any Proceeding in their capacity as Subordinated Creditors (including the right to vote to accept or reject any plan of reorganization, composition, arrangement or liquidation) to the fullest extent provided by applicable law (it being
understood that such rights shall not be interpreted to modify the rights, agreements and obligations of Subordinated Creditors under this Agreement). Each Subordinated Creditor agrees that it will not vote its claim, or take any other action, in
such Proceeding in any manner inconsistent with the terms of this Agreement. Without limiting the generality of the foregoing, each Subordinated Creditor agrees that it will not (i) contest or object to any request by or on behalf of the Senior
Creditors for adequate protection, (ii) support, endorse, propose, submit, whether directly or indirectly, any plan of reorganization for any Obligor or any subsidiary thereof that provides for or contemplates the impairment of repayment of the
Senior Debt (or any portion thereof) unless the Senior Agent (acting upon an Act of Required Secured Parties (acting in their sole discretion)) shall have consented thereto in writing, (iii) take (or support any Person in taking) any action,
vote any proofs of claim, or vote on any plan of reorganization in any manner that would have the effect of impairing or reducing the amount of or the interest rate on or delaying the time of payment of any Senior Debt or be inconsistent with the
terms of this Agreement, (iv) take (or support any Person in taking) any action to (A) contest the validity, perfection, priority or enforceability of any Senior Debt, any Lien or security interest of any Senior Creditor in any assets or
property of any Obligor or any guarantee thereof, (B) contest the relative rights and duties of the Senior Creditors with respect to any collateral securing or purporting to secure the Senior Debt, or (C) contest, impair, reduce or
adversely affect the Subordinated Creditors’ obligations and 

  
 7 

 
agreements set forth in this Agreement, (v) seek or request relief from or modification of the automatic stay or any other stay in any Proceeding with respect to any Obligor or
(vi) oppose or seek to challenge (or support any Person in opposing or seeking to challenge) any claim by the Senior Agent or any other Senior Creditor for allowance in any Proceeding of Senior Debt consisting of Post-Petition Interest,
premiums, fees or expenses. 
 (d) The Senior Debt shall continue to be treated as Senior Debt and the provisions of this
Agreement shall continue to govern the relative rights and priorities of Senior Creditors and Subordinated Creditors even if all or part of the Senior Debt or the security interests securing the Senior Debt are subordinated, set aside, avoided,
invalidated or disallowed in connection with any such Proceeding, and this Agreement shall be reinstated if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by any holder of Senior Debt or any
representative of such holder. 
 (e) Upon any payment or distribution of assets of any Obligor, the Subordinated Creditors
shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such Proceeding is pending for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of
the Senior Debt and other indebtedness, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or this Section 2.2. 

(f) Until the Senior Debt is Paid in Full, no Subordinated Creditor shall consent to the use of “cash collateral” (as
such term is defined in Section 363(a) of the Bankruptcy Code) nor provide any financing that would be senior to or pari passu with the Senior Debt under Section 364 of the Bankruptcy Code, or support any other Person in providing
such financing, unless the Senior Agent (acting upon an Act of Required Secured Parties (acting in their sole discretion)) shall have agreed to such use of cash collateral or financing, and no Subordinated Creditor shall raise any objection (or
support any other Person objecting) to any such use of cash collateral or financing supported by the Senior Agent or other Senior Creditors. 

(g) If, in any Proceeding, debt securities of any reorganized Obligor are distributed pursuant to a plan of reorganization,
arrangement, compromise or liquidation or similar dispositive restructuring plan on account of the Senior Debt and/or the Subordinated Debt, then any such debt securities distributed to the Senior Creditors shall constitute Senior Debt hereunder and
any such debt securities distributed to any Subordinated Creditor shall constitute Subordinated Debt hereunder, and the provisions of this Agreement will survive the distribution of such debt securities pursuant to such plan and will apply with like
effect to such debt securities. 
 (h) If any Senior Creditor is required in any Proceeding or otherwise to turn over or
otherwise pay to the estate of any Obligor any amount paid in respect of Senior Debt (a “Recovery”), then such Senior Creditor shall be entitled to a reinstatement of its Senior Debt with respect to all such recovered amounts
on the date of such Recovery, and 

  
 8 

 
from and after the date of such reinstatement the Senior Debt shall be deemed not to have been Paid in Full for all purposes hereunder. If this Agreement shall have been terminated prior to such
Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. This
Section 2.3(h) shall survive termination of this Agreement. 
 2.4 Subordinated Debt Standstill Provisions. 

(a) No Subordinated Creditor shall, without the prior written consent of Senior Agent (acting upon an Act of Required Secured
Parties), take any Enforcement Action with respect to the Subordinated Debt, until the earliest to occur of the following: 

(i) the acceleration or final maturity (after giving effect to any extensions thereof) of the Senior Debt; 

(ii) the commencement of any Proceeding with respect to any Obligor (other than any such Proceeding initiated by a Subordinated
Creditor); 
 (iii) the date the Senior Debt is Paid in Full; 

(iv) the commencement by the Senior Agent (acting upon an Act of Required Secured Parties) of any foreclosure proceedings or
other exercise of remedies against any Obligor to realize upon any material portion of the Collateral; 
 (v) any sale of all
or substantially all of the assets of the Obligors (whether by merger, consolidation, recapitalization, sale of assets, foreclosure or otherwise) in connection with the exercise of remedies by the Senior Agent under the Senior Debt Documents; 

(vi) the Subordinated Debt Final Maturity Date; and 

(vii) the passage of two hundred seventy (270) days from the date of Senior Agent’s receipt of a written notice from
any Subordinated Creditor if the event of default under the Subordinated Debt Documents described in reasonable detail therein shall not have been cured or waived within such period. 

Notwithstanding the foregoing, each Subordinated Creditor (i) subject to the terms of this Agreement, may file and vote proofs of claim
against each Obligor in any Proceeding involving such Person, (ii) subject to the terms of this Agreement, may take such actions as are reasonably necessary in such Proceeding to establish and preserve such claim, (iii) may commence legal
proceedings to the extent, but only to the extent, necessary to toll the running of any applicable statute of limitations or similar restriction on claims, or to assert a compulsory crossclaim or counterclaim against any Obligor, (iv) may
exercise rights and remedies for specific performance or equitable relief to compel any Obligor to comply with any non-payment obligations under the Subordinated Debt Documents to which such Obligor is a party
so long as it is not accompanied by any collection action, 

  
 9 

 
(v) may take any non-judicial procedural action that may be required or desired as a precondition to acceleration or relating to preservation of rights
(such as giving a notice of default or reservation of rights (including reservation of acceleration rights subject to the terms of this Agreement)), (vi) may impose a default rate of interest that is otherwise permitted pursuant to the terms of this
Agreement (provided that such default interest may be paid only with the proceeds of Permitted Payments in accordance with this Agreement), (vii) upon the occurrence and during the continuance of an “Event of Default” under the
Subordinated Debt Documents, may deliver to the Company a notice of acceleration (provided that such acceleration is not effective until the earliest of the dates specified in clauses (i) through (vi) of this Section 2.4),
(viii) may take any action to enforce the terms of any subordination agreement with respect to any indebtedness or other obligation subordinated to the Subordinated Debt (other than to exercise any turnover rights thereunder which shall be subject
to the terms of this Agreement), (ix) may bid for or purchase Collateral at any private or judicial foreclosure upon such Collateral, or (x) receive any remaining proceeds of Collateral after the Senior Debt has been Paid in Full and all
commitments to lend under the Senior Debt Documents shall be terminated. Any Distributions or other proceeds of any Enforcement Action obtained by any Subordinated Creditor which do not constitute Permitted Payments or are received by any
Subordinated Creditor at any time that an Event of Default has occurred and is continuing under the Senior Debt Documents shall in any event be held in trust by it for the benefit of Senior Agent and Senior Creditors and promptly paid or delivered
to Senior Agent for the benefit of Senior Creditors in the form received until all Senior Debt is Paid in Full. 
 Notwithstanding anything
contained herein to the contrary, if following the acceleration of the Senior Debt by Senior Creditors such acceleration is rescinded (whether or not any existing “Event of Default” under any Senior Debt Document has been cured or waived),
then any and all Enforcement Actions that were permitted to be taken by each Subordinated Creditor under Section 2.4(a)(i) solely as a result of such acceleration shall likewise be rescinded, and such rescission by Subordinated Creditors
shall not prejudice the rights of Subordinated Creditors except as may otherwise be contemplated under or consistent with this Agreement. 

(b) Each Obligor hereby agrees that in the event that any holder of Subordinated Debt commences any Enforcement Action within
ten (10) days after the expiration of any remedy standstill period imposed pursuant to this Agreement, it will not assert, and hereby waives (to the extent permitted by applicable law) any right to assert, as a defense or otherwise, that such
exercise of rights, remedies and/or enforcement actions by such Subordinated Creditor are untimely or that such Subordinated Creditor’s delay in commencing such Enforcement Action constitutes a waiver of any of its rights or remedies or is
otherwise commercially unreasonable. Furthermore, each Obligor agrees that any applicable statute of limitations that would otherwise prevent any holder of Subordinated Debt from pursuing any claim with respect to the Subordinated Debt shall be
tolled upon the commencement of, and until the expiration of, any remedy standstill period imposed pursuant to this Agreement, and each Obligor hereby agrees not to assert, and hereby waives (to the extent permitted by applicable law) any right to
assert as a defense, any applicable statute of limitations without giving effect to such tolling. 

  
 10 

 (c) No Subordinated Creditor will contest, protest or object to any exercise
of remedies or other foreclosure proceeding or action brought by the Senior Agent or any Senior Creditor or any other exercise by the Senior Agent or any Senior Creditor of any rights and remedies relating to the Collateral under the Senior Debt
Documents and will not object to the forbearance by the Senior Agent or any Senior Creditor from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral. 

2.5 Incorrect Payments. If any payment or Distribution (whether in the form of cash, securities or other property) on account of
the Subordinated Debt not permitted to be made by the Obligors or received by any Subordinated Creditor under this Agreement is made and received by any Subordinated Creditor, the full amount of such payment or Distribution shall be held in trust
(but shall not be required to be segregated) by such Subordinated Creditor for the benefit of Senior Agent and Senior Creditors and shall be paid over to Senior Agent, within 10 days after the earlier of (i) written demand therefor from Senior
Agent; and (ii) any officer of such Subordinated Creditor having responsibility for managing the investment evidenced by the Subordinated Debt obtaining knowledge of the receipt of such prohibited payment. 

2.6 Legend. Until the termination of this Agreement in accordance with Section 15, each Subordinated Creditor will
cause to be inserted on the face of each Subordinate Note as well as any renewals or replacements thereof, the following legend: 

“This instrument and the indebtedness evidenced hereby are subordinated in the manner and to the extent set forth in that
certain Subordination Agreement (as amended, restated, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the “Subordination Agreement”) dated as of _______, 20__ by and
among GSRP Portfolio I LLC, a Delaware limited liability company, GSRP Portfolio I HoldCo LLC, a Delaware limited liability company, certain other subsidiaries of the Company, as guarantors, MUFG Union Bank, N.A., as the Senior Agent (as defined
therein) for the Senior Creditors (as defined therein) and the Subordinate Noteholder Representative (as defined therein), to the prior Payment in Full (as defined therein) of the Senior Debt (as defined therein), and each holder of this instrument,
by its acceptance hereof, irrevocably agrees to be bound by the provisions of the Subordination Agreement.” 
 2.7 Obligations
Hereunder Not Affected. All rights and interest of the Senior Creditors and the Senior Agent hereunder, and all agreements and obligations of each Subordinated Creditor and each Obligor, shall (subject in any case to Sections 3.1 and 3.2)
remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any document evidencing
Senior Debt, or any lack of validity, perfection, priority or enforceability of any Lien pursuant to any Senior Debt Document; 

(b) any change in the time, manner or place of payment of, or any other term of, all or any of the Senior Debt, or any other
amendment or waiver of or any release or consent to departure from any of the Senior Debt Documents; 

  
 11 

 (c) any exchange, release or
non-perfection of any security interest in collateral for all or any of the Senior Debt; 

(d) any failure of the Senior Agent or any other Senior Creditor to assert any claim or to enforce any right or remedy against
any other party hereto under the provisions of this Agreement or any other Senior Debt Document; 
 (e) any reduction,
limitation, impairment or termination of the Senior Debt for any reason (other than the defense of Payment in Full of the Senior Debt), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to (and
each Obligor and each Subordinated Creditor hereby waives (to the extent not prohibited by applicable law) any right to or claim of) any defense (other than the defense of Payment in Full of the Senior Debt) or setoff, counterclaim, recoupment or
termination whatsoever by reason of invalidity, illegality, nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any Senior Debt; and 

(f) any other circumstance which might otherwise constitute a defense (other than the defense of the Payment in Full of the
Senior Debt) available to, or a discharge of, any Obligor in respect of the Senior Debt or any Subordinated Creditor in respect of this Agreement. 
 This
Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by any Senior Creditor or the Senior Agent upon the insolvency, bankruptcy
or reorganization of any Obligor or otherwise, all as though such payment had not been made. Each Subordinated Creditor acknowledges and agrees that the Senior Creditors and the Senior Agent may in accordance with the terms of any Senior Debt
Document, without notice or demand and without affecting or impairing such Subordinated Creditor’s obligations hereunder, but subject to Section 3.1, from time to time (i) renew, compromise, extend, increase, accelerate or
otherwise change the time for payment of, or otherwise change the terms of the Senior Debt or any part thereof, including, without limitation, to increase or decrease the rate of interest thereon or the principal amount thereof; (ii) take or
hold security for the payment of the Senior Debt and exchange, enforce, foreclose upon, waive and release any such security; (iii) apply such security and direct the order or manner of sale thereof as the Senior Agent and the Senior Creditors,
in their sole discretion, may determine; (iv) release and substitute one or more endorsers, warrantors, borrowers or other obligors; and (v) exercise or refrain from exercising any rights against any Obligor or any other Person. 

2.8 Subordination of Liens and Security Interests; Agreement Not to Contest; Agreement to Release Liens. Until such time as the
Senior Debt is Paid in Full, no Subordinated Creditor shall at any time take, accept, file, record or require any Lien in or on any or all of the Collateral or any other interest in property of any Obligor other than Permitted Judgment Liens. Until
all Senior Debt has been Paid in Full, any Liens of any Subordinated Creditor on account of the Subordinated Debt in the Collateral which may exist in breach of such Subordinated Creditor’s agreement pursuant to Section 3.2(i) or
Section 4.1(e) of this Agreement and any Permitted Judgment Liens shall in each case be and hereby are subordinated for all purposes and in all respects to the Liens of Senior Agent and Senior Creditors in the Collateral,

  
 12 

 
any and all Liens granted by any Obligor in favor of the Senior Agent shall in all respects be first and senior Liens, superior to any Liens in favor of Subordinated Creditors regardless of the
time, manner or order of perfection of any such liens and security interests. Without limiting any other rights and remedies available to the Senior Agent, Subordinated Creditors agree that any amounts received by or distributed to any of them
pursuant to or as a result of Liens granted to them shall be held and paid over to Senior Agent in accordance with Sections 2.3, 2.5 and 5 or any other provision of this Agreement. Each Subordinated Creditor agrees that it will
not directly or indirectly, as a member of a creditors’ committee in a Proceeding or otherwise, at any time initiate, prosecute, participate in any action, objection or other proceeding to challenge or otherwise contest the validity,
perfection, priority or enforceability of the Senior Debt, the Senior Debt Documents, or the liens and security interests of Senior Agent and Senior Creditors in the Collateral securing the Senior Debt; provided that, for the avoidance of
doubt, such Subordinated Creditor’s status as a member of a creditors’ committee shall not be deemed to be a violation of the foregoing restriction for so long as such Subordinated Creditor does not initiate, prosecute, and participate in
(and abstains from) any action, objection or other proceeding to challenge or otherwise contest the validity, perfection, priority or enforceability of the Senior Debt, the Senior Debt Documents, or the liens and security interests of Senior Agent
and Senior Creditors in the Collateral securing the Senior Debt. Each Senior Creditor agrees that, except as may otherwise be contemplated under or consistent with this Agreement, it will not at any time initiate, prosecute or participate in any
claim, action, objection or other proceeding challenging the enforceability or validity of the Subordinated Debt or the Subordinated Debt Documents. In the event that any Subordinated Creditor obtains any liens or security interests in the
Collateral on account of the Subordinated Debt, such Subordinated Creditor shall (or shall cause its agent to) promptly execute and deliver to Senior Agent such termination statements and releases as Senior Agent shall request to effect the release
of the liens and security interests of such Subordinated Creditor in such Collateral. In furtherance of the foregoing, each Subordinated Creditor hereby irrevocably (i) appoints Senior Agent its attorney-in-fact, with full power of substitution and with full authority in the place and stead of such Subordinated Creditor and in the name of such Subordinated Creditor or otherwise, to execute and
deliver any document or instrument which such Subordinated Creditor may be required to deliver pursuant to this Section 2.8 and (ii) authorizes the Senior Agent to file any Uniform Commercial Code termination statement, release or
amendment required to be delivered pursuant to this Section 2.8, provided that the Senior Agent shall have no obligation to file any such Uniform Commercial Code termination statement, release or amendment. 

3. Modifications. 

3.1 Modifications to Senior Debt Documents. Senior Creditors may at any time and from time to time without the consent of or
notice to any Subordinated Creditor, without incurring liability to any Subordinated Creditor and without impairing or releasing the obligations of any Subordinated Creditor under this Agreement, change the manner or place of payment or extend the
time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any Senior Debt Document; provided that Senior Creditors shall not, without the prior written consent of the Subordinate Noteholder Representative,
agree to any amendment, modification, waiver, supplement or refinancing to or of the Senior Debt Documents, the effect of which is to, (a) increase the principal amount of the Senior Debt to an amount greater than ten percent (10%) in excess of the
amount of Senior Debt permitted to be 

  
 13 

 
incurred under the Note Purchase Agreement as in effect on the date hereof; (b) amend Sections 3.1 or 3.8 of the Depositary Agreement in a manner that would adversely impact the priority of
Permitted Payments or otherwise add any direct restrictions on the ability of any Obligor to repay the Subordinated Debt in addition to those set forth in the Senior Debt Documents in effect on the date hereof (provided that any modification of any
existing covenants or defaults, which has the effect of making them more restrictive, shall not be deemed, in and of itself, to be an additional restriction on the payment of the Subordinated Debt); or (c) change or amend any term of the Senior
Debt Documents relating to the purchase, assignment or participation of all or any portion of the Senior Debt to any Obligor or any of its respective Affiliates in a manner adverse to the Subordinated Creditor. The Senior Agent shall promptly notify
Subordinated Creditors in writing upon the Senior Agent’s exercise of remedies with respect to the Senior Debt Documents, provided that the failure to so notify Subordinated Creditors shall in no way impair the rights of the Senior Agent or the
Senior Creditors hereunder or thereunder or impose any liability upon Senior Agent. 
 3.2 Modifications to Subordinated Debt
Documents. Until the Senior Debt has been Paid in Full, and notwithstanding anything to the contrary contained in the Subordinated Debt Documents, no Subordinated Creditor shall, without the prior written consent of the Senior Agent (acting
upon an Act of Required Secured Parties), agree to any amendment, modification or supplement to the Subordinated Debt Documents (a) the effect of which is to take any liens or security interests in any assets of any Obligor or any Affiliate of
any Obligor other than Permitted Judgment Liens, (b) in any manner if, after giving effect to such amendment, modification or supplement, such Subordinated Debt Document will no longer satisfy the terms of Sections 1.3, 1.4, 1.5, and 13.6 of
the Note Purchase Agreement, (c) the effect of which is to increase the obligations of any Obligor of the Subordinated Debt or to confer additional material rights on any Subordinated Creditor or any other holder of the Subordinated Debt in a
manner adverse to any Obligor or the Senior Creditors, and (d) the effect of which is otherwise materially adverse to the interests of the Senior Creditors. 

4. Representations and Warranties. 

4.1 Representations and Warranties of Subordinate Noteholder Representative. The Subordinate Noteholder Representative, hereby
represents and warrants to Senior Agent and Senior Creditors, as to itself and on behalf of the Subordinated Creditors, that as of the date hereof: (a) the Subordinate Noteholder Representative, on behalf of the Subordinated Creditors, has the
power and authority to enter into, execute, deliver and carry out the terms of this Agreement, all of which have been duly authorized by all proper and necessary action; (b) the execution of this Agreement by the Subordinate Noteholder
Representative, on behalf of the Subordinated Creditors, will not require any consent or approval which has not been obtained; (c) this Agreement is the legal, valid and binding obligation of such Subordinated Creditor, enforceable against such
Subordinated Creditor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by
equitable principles; (d) the Subordinated Creditors are the sole owner, beneficially and of record, of all of the Subordinated Debt; and (e) the Subordinated Debt held by each Subordinated Creditor is, and at all times prior to the
termination of this Agreement shall remain, an unsecured obligation of each Obligor other than Permitted Judgment Liens. 

  
 14 

 4.2 Representations and Warranties of Senior Agent. Senior Agent hereby
represents and warrants to each Subordinated Creditor that as of the date hereof: (a) Senior Agent, on behalf of Senior Creditors, has the power and authority to enter into, execute, deliver and carry out the terms of this Agreement, all of
which have been duly authorized by all proper and necessary action; and (b) this Agreement is the legal, valid and binding obligation of Senior Agent, enforceable against Senior Agent in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles. 

5. Subrogation. Each Subordinated Creditor agrees that in the event that all or any part of a payment made with respect
to the Senior Debt is recovered from the holders of the Senior Debt in a Proceeding or otherwise, any Distribution received by such Subordinated Creditor with respect to the Subordinated Debt at any time after the date that such payment is so
recovered, whether pursuant to the right of subrogation provided for in this Agreement or otherwise, shall be deemed to have been received by such Subordinated Creditor in trust for the benefit of the holders of the Senior Debt and such Subordinated
Creditor shall forthwith deliver the same to the Senior Agent for the benefit of the Senior Creditors for application to the Senior Debt until the Senior Debt is Paid in Full. For purposes of this Section 5, a Distribution made pursuant
to this Agreement to Senior Agent or Senior Creditors which otherwise would have been made to any Subordinated Creditor is not, as between the Company and such Subordinated Creditor, a payment by the Company to or on account of the Senior Debt. 

6. Modification. Any modification or waiver of any provision of this Agreement, or any consent to any departure by any party
from the terms hereof, shall not be effective in any event unless the same is in writing and signed by each of the parties hereto (and in the case of the Senior Agent, acting upon an Act of Required Secured Parties), and then such modification,
waiver or consent shall be effective only in the specific instance and for the specific purpose given. Any notice to or demand on any party hereto in any event not specifically required hereunder shall not entitle the party receiving such notice or
demand to any other or further notice or demand in the same, similar or other circumstances unless specifically required hereunder. 
 7.
Further Assurances. Each party to this Agreement promptly will execute and deliver such further instruments and agreements and do such further acts and things (at the sole cost and expense of the Company) as may be reasonably requested in
writing by any other party hereto that may be necessary or desirable in order to effect fully the purposes of this Agreement. 
 8.
Notices. Unless otherwise provided in this Agreement, all notices or demands provided for hereunder shall be in writing (including by facsimile transmission). All such written notices shall be mailed, faxed or delivered to the applicable
address, facsimile number or electronic mail address, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

If to Subordinated Creditors: 

____________ 

____________ 

  
 15 

 If to Senior Agent: 

MUFG Union Bank, N.A., 
 as
First Lien Collateral Agent 
 1251 Avenue of the Americas, 19th Floor 

New York, NY 10020 
 Attention:
Vanessa Williams 
 Telephone: (415) 273-2518 

Email: SFCT@unionbank.com 
 with
a copy to: 
 MUFG Union Bank, N.A., 

as First Lien Collateral Agent 

1251 Avenue of the Americas, 19th Floor 

New York, NY 10020 
 Attention:
Marion Zinowski 
 Telephone: (646) 452-4783 

Email: Marion.Zinowski@unionbank.com 
 or in any
case, to such other address as the party addressed shall have previously designated by written notice to the serving party, given in accordance with this Section 8. All such notices and other communications shall be deemed to be given or
made upon the earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four
(4) business days after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed; and (D) if delivered by electronic mail, when delivered. In no event shall a voice mail message be
effective as a notice, communication or confirmation hereunder. 
 To the extent that any amount due and payable under this Agreement by the Company or any
Obligor has not been paid within the time period set forth hereunder or, if applicable, as set forth in any invoice delivered pursuant to the terms hereof, the First Lien Collateral Agent or Subordinated Creditors, as applicable, shall provide
written notice thereof to the Company and such written notice shall be identified therein as a “notice of default” and refer specifically to Section 11(c)(ii) of the Note Purchase Agreement and Section 8.1(c)(ii) of the LC
Facility Credit Agreement. 
 9. Successors and Assigns. This Agreement shall inure to the benefit of, and shall be binding
upon, the respective successors and assigns of Senior Agent, Senior Creditors, Subordinated Creditors, and each Obligor. To the extent permitted under the Senior Debt Documents, Senior Creditors may, from time to time, without notice to any
Subordinated Creditor, assign or transfer any or all of the Senior Debt or any interest therein to any Person and, notwithstanding any such assignment or transfer, or any subsequent assignment or transfer, the Senior Debt shall, subject to the terms
hereof, be and remain Senior Debt for purposes of this Agreement, and every permitted assignee or transferee of any of the Senior Debt or of any interest therein shall, to the extent of the interest of such permitted assignee or transferee in the

  
 16 

 
Senior Debt, be entitled to rely upon and be the third party beneficiary of the subordination provided under this Agreement and shall be entitled to enforce the terms and provisions hereof to the
same extent as if such assignee or transferee were initially a party hereto. The Subordinate Noteholder Representative agrees that any Person that becomes a Senior Creditor after the date of this Agreement may rely on and enforce this Agreement.

 10. Relative Rights. This Agreement shall define the relative rights of Senior Agent, Senior Creditors and Subordinated
Creditors. Nothing in this Agreement shall (a) impair, as between the Obligors and Senior Agent and Senior Creditors and as between the Obligors and Subordinated Creditors, the obligation of the Obligors with respect to the payment of the
Senior Debt and the Subordinated Debt in accordance with their respective terms or (b) affect the relative rights of Senior Agent, Senior Creditors or Subordinated Creditors with respect to any other creditors of the Obligors. 

11. Conflict. In the event of any conflict between any term, covenant or condition of this Agreement and any term, covenant or
condition of any of the Senior Debt Documents or the Subordinated Debt Documents, the provisions of this Agreement shall control and govern; provided that, notwithstanding the foregoing, for the avoidance of doubt, the failure of any Obligor
to comply with the provisions of the Senior Debt Documents by reason of the operation of any provision of this Agreement shall not be construed as preventing the occurrence of a breach, “Default” and/or “Event of Default” under
and as defined in any Senior Debt Document; provided that, notwithstanding the foregoing, for the avoidance of doubt, the failure of any Obligor to comply with the provisions of any Subordinated Debt Document by reason of the operation of any
provision of this Agreement shall not be construed as preventing the occurrence of a breach, “Default” and/or “Event of Default” under and as defined in any Subordinated Debt Document. 

12. Headings. The paragraph headings used in this Agreement are for convenience only and shall not affect the interpretation of
any of the provisions hereof. 
 13. Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart to this Agreement by facsimile or other electronic transmission shall be deemed to be effective delivery of an
original signature hereto. 
 14. Severability. In the event that any provision of this Agreement is deemed to be invalid,
illegal or unenforceable by reason of the operation of any law or by reason of the interpretation placed thereon by any court or governmental authority, the validity, legality and enforceability of the remaining provisions of this Agreement shall
not in any way be affected or impaired thereby, and the affected provision shall be modified to the minimum extent permitted by law so as most fully to achieve the intention of this Agreement. 

15. Continuation of Subordination; Termination of Agreement. This Agreement and the obligations of Subordinated Creditors
hereunder shall remain in full force and effect until the Payment in Full of the Senior Debt after which this Agreement shall terminate without further action on the part of the parties hereto; provided that this Agreement shall continue to
be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior 

  
 17 

 
Debt is rescinded or must otherwise be returned by any Senior Creditor or the Senior Agent (or any representative thereof) upon the insolvency, bankruptcy or reorganization of any Obligor or
otherwise, all as though such payment had not been made, and any Distribution received by such Subordinated Creditor with respect to the Subordinated Debt at any time after the date of the payment that is so recovered, whether pursuant to the right
of subrogation provided for in this Agreement or otherwise, shall be subject to Section 2.5. 
 16. Applicable
Law. THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING
CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE. 

17. Consent to Jurisdiction. 

(a) Each of the parties hereto irrevocably submits to the non-exclusive jurisdiction of any New York
State or federal court sitting in the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the Notes or any other Note Document. To the fullest extent permitted by applicable
law, each Obligor irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the
venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

(b) Each of the parties hereto agrees, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or
proceeding of the nature referred to in Section 17(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the courts of the United States or the State
of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 

(c) Each of the parties hereto consents to process being served by or on behalf of any party hereto in any suit, action or proceeding of the
nature referred to in Section 17(a) by mailing a copy thereof by registered, certified, priority or express mail (or any substantially similar form of mail), postage prepaid, return receipt or delivery confirmation requested, to it at
its address specified in Section 8 or at such other address of which such holder shall then have been notified pursuant to said Section. Each of the parties hereto agrees that such service upon receipt (i) shall be deemed in every
respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices
hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 

(d) Nothing in this Section 17 shall affect the right of any party to serve process in any manner permitted by law, or limit any
right that the parties may have to bring proceedings in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction. 

  
 18 

 18. WAIVER OF JURY TRIAL. THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY
ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
 19.
Subordination Agreement. This Agreement is intended to be a subordination agreement within the meaning of section 510(a) of the Bankruptcy Code. 

20. Additional Subordinate Debt. Any purchaser and holder of any additional Series of unsecured Subordinate Notes shall sign
onto this Agreement as an additional Subordinated Creditor by executing a joinder to this Agreement in the form of Exhibit A attached hereto and such additional Series of Subordinate Notes shall constitute “Subordinated Debt” for
all purposes hereunder. 
 21. Specific Performance. Senior Agent and each of the Subordinated Creditors may demand specific
performance of this Agreement, and each of the Subordinated Creditors and Senior Agent waives any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action
brought by any of the Subordinated Creditors or the Senior Agent, respectively. 
 22. No Third Party Beneficiaries. This
Agreement is for the sole benefit of the Subordinated Creditors, Senior Creditors and Senior Agent and their respective successors and permitted assigns. There are no third party beneficiaries. No trustee in bankruptcy for, or bankruptcy estate of,
or unsecured creditor of, any Obligor will have or acquire or be entitled to exercise any right of a Senior Creditor or Subordinated Creditor under this Agreement, whether upon an avoidance or equitable subordination of a Lien of any Senior Creditor
or any Subordinated Creditor or otherwise. Other than pursuant to the second sentence of this Section, no Obligor or any other creditor thereof has any rights hereunder, and no Obligor may rely on the terms hereof. Nothing in this Agreement impairs
the obligations of any Obligor to pay principal, interest, fees, and other amounts as provided in the Senior Debt Documents and the Subordinated Debt Documents. 

23. Creditors’ Capacities. For the avoidance of doubt, each of the Senior Agent, on behalf of itself and the Senior
Creditors, and the Subordinated Creditors acknowledge and agree that this Agreement only applies to the parties hereto in their capacities as holders of the Senior Debt and the Subordinated Debt, as applicable, or as agent, as the case may be; this
Agreement does not affect any party hereto in any different capacity, including as an equity holder or as a party to any agreement or instrument other than the Senior Debt Documents and the Subordinated Debt Documents. Further, for the avoidance of
doubt, this Agreement shall not constrain any party hereto from, or give rise to a default upon any party hereto, taking any action in any capacity other than that as holders of the Senior Debt and the Subordinated Debt permitted under any agreement
or document governing rights of a party hereto in any other capacity. 

  
 19 

 24. Several Obligations of Subordinated Creditors, Etc. The rights and
obligations of the Subordinated Creditors are several and not joint and several. No Subordinated Creditor shall be liable directly or indirectly, on account of any act or omission of any other Subordinated Creditor. 

25. Subordination May Not Be Impaired. No right of any holder of Senior Debt to enforce the subordination of the Subordinated
Debt may be impaired by any act or failure to act by any Obligor, any Senior Creditor or Senior Agent. 
 26. Defense to
Enforcement. If a Subordinated Creditor, in contravention of the terms of this Agreement, shall commence, prosecute or participate in any suit, action or proceeding against any Obligor, then such Person may interpose as a defense or plea the
making of this Agreement, and Senior Agent or any other Senior Creditor may intervene and interpose such defense or plea in its name or in the name of any such Obligor. If a Subordinated Creditor, in contravention of the terms of this Agreement,
shall attempt to collect any of the Subordinated Debt or enforce any of the Subordinated Debt Documents, then Senior Agent, any other Senior Creditor or any Obligor may, by virtue of this Agreement, restrain the enforcement thereof in the name of
Senior Agent or such Senior Creditor (as applicable), or any such Obligor. 
 (Signature Pages Follow) 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	SENIOR AGENT:
	
	MUFG UNION BANK, N.A.,
not in its individual capacity but solely in its capacity as Senior Agent
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	[SECOND LIEN COLLATERAL AGENT:
	
	 _______________,
 not in its
individual capacity but solely in its capacity as Second Lien Collateral Agent

		
	By:	 	 
	Name:	 	
	Title:]2	 	

  

	2 	 Insert if applicable. 

  
 [Signature Page to
Subordination Agreement] 

 
			
	[SUBORDINATE NOTEHOLDER REPRESENTATIVE:
	
	__________, as Subordinate Noteholder Representative

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:]3	 	

  

	3 	 Insert if applicable. 

  
 [Signature Page to
Subordination Agreement] 

									
		 		 	ACKNOWLEDGED AND AGREED:
	COMPANY:	 		 		 	
			
		 		 	 GSRP PORTFOLIO I LLC

 

									
		 		 	 By:
	 	 
		 		 		 	 Name:
	 	 
		 		 		 	 Title:
	 	 

 [INSERT OTHER OBLIGORS] 

  
 Signature Page to
Subordination Agreement 

 Exhibit A 

FORM OF JOINDER AGREEMENT 

This JOINDER AGREEMENT (this “Joinder Agreement”) dated as of ________, 20__ is executed by the undersigned in
connection with that certain Subordination Agreement dated as of ________, 20__ by and among the Obligors (as defined therein), MUFG Union Bank, N.A., as the First Lien Collateral Agent (as defined therein) for the First Lien Secured Parties (as
defined therein), [__________, in its capacity as Second Lien Collateral Agent (as defined therein) for the Second Lien Secured Parties (as defined therein)] and __________, as the Subordinate Noteholder Representative for the holders of Series ___
Notes (as defined therein) (as amended, restated, supplemented or modified from time to time, the “Agreement”). Capitalized terms not otherwise defined herein are being used herein as defined in the Agreement. 

In consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each
signatory hereby agrees as follows: 
  

	 	1.	 Each such signatory acknowledges receipt of the Agreement, assumes all the rights and obligations of a
Subordinated Creditor under the Agreement and agrees that such signatory shall be bound as a Subordinated Creditor under the terms of the Agreement as if it had been an original signatory to the Agreement. 

 

	 	2.	 Each signatory hereby gives as of the date hereof the representation and warranties in Section 4.1
of the Agreement. 

  

	 	3.	 Each such signatory’s address for notices under the Agreement shall be as set forth beneath its signature
hereto (or such other address as such signatory may designate in writing from time to time pursuant to Section 8 of the Agreement). 

  

	 	4.	 Each such signatory hereby waives notice of acceptance of this Joinder Agreement by the other parties to the
Agreement. 

 [add signature block and address] 

 EXHIBIT K 

to Note Purchase Agreement 

FORM OF CANADIAN REPRESENTATION LETTER 

REPRESENTATION LETTER 
 TO: GSRP
Portfolio I LLC (the “Company”) 
 AND TO: Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., HSBC Securities (USA)
Inc., and Citigroup Global Markets Inc. (collectively, the “Placement Agents”) 
 Reference is made to that certain Note Purchase
Agreement, dated as of January 30, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”) by and among the Company, GSRP Portfolio I HoldCo LLC, a
Delaware limited liability company, the Guarantors party thereto from time to time, MUFG Union Bank, N.A., as First Lien Collateral Agent, MUFG Union Bank, N.A. as Notes Agent, and the Purchasers named therein. Unless otherwise indicated herein,
each capitalized term used in this letter shall have the respective meaning ascribed to such term in the Note Purchase Agreement. 
 The undersigned
Purchaser is a resident of Canada and hereby represents to the Company and each Placement Agent that: 
  

	(a)	 such Purchaser is not an individual; 

 

	(b)	 if such Purchaser is resident in a province other than the Province of Ontario, such Purchaser is purchasing
(or deemed to be purchasing) as principal and meets one or more of the criteria to be classified an “accredited investor” as defined in National Instrument 45-106 –Prospectus Exemptions
(“NI 45-106”) but was not created and is not being used solely to purchase or hold securities as an “accredited investor”; 

 

	(c)	 if such Purchaser is resident in the Province of Ontario, such Purchaser is purchasing (or deemed to be
purchasing) as principal and meets one or more of the criteria to be classified an “accredited investor” as defined in NI 45-106 or Section 73.3(1) of the Securities Act (Ontario) but was not
created and is not being used solely to purchase or hold securities as an “accredited investor”; and 

  

	(d)	 such Purchaser meets one of the following criteria in order to be classified as a “permitted client”
as defined in National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations: 

 

	 	(i)	 such Purchaser is an investment fund managed by a person or company registered as an investment fund manager or
advised by a person authorized to act as an adviser, in either case under the securities legislation of a jurisdiction of Canada; 

  

	 	(ii)	 such Purchaser is a person or company (other than an investment fund) that has net assets of at least Can.
$25 million as shown on its most recently prepared financial statements; or 

	 	(iii)	 such Purchaser is a Canadian Financial Institution (as defined in NI
45-106 and National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations). 

The undersigned Purchaser acknowledges that the representations and warranties in this representation letter are made with the intent that they may be relied
upon by the Company in determining the undersigned Purchaser’s eligibility to purchase the Notes under Canadian securities legislation. The undersigned Purchaser will notify the Company immediately in the event of any change in the foregoing
representations and warranties. 
 Upon execution of this representation letter by the undersigned Purchaser, the Company and the Placement Agents will be
entitled to rely on this representation letter for the purpose of issuing and selling the Notes to the undersigned Purchaser. 
 Dated as of [________],
20[__] 
  

	
	[NAME OF PURCHASER]
	
	 
	Name:
	Title:
	
	[__________________________________________________
	Name:
	Title:]

 SCHEDULE 5.4 

TO NOTE PURCHASE AGREEMENT 

SUBSIDIARIES OF THE OBLIGORS AND OWNERSHIP OF SUBSIDIARY STOCK 

Subsidiaries: 

 Restrictive Agreements: 

. 
 Schedule 5.4 

(to Note Purchase Agreement) 

 SCHEDULE 5.7 

TO NOTE PURCHASE AGREEMENT 

LITIGATION 
 Schedule 5.7 

(to Note Purchase Agreement) 

 SCHEDULE 5.8 

TO NOTE PURCHASE AGREEMENT 

TAXES 
 Schedule 5.8 

(to Note Purchase Agreement) 

 SCHEDULE 5.15 

TO NOTE PURCHASE AGREEMENT 

INDEBTEDNESS 
 PART I 

Schedule 5.15 
 (to Note Purchase
Agreement) 

 PART II 

Schedule 5.15 
 (to Note Purchase
Agreement) 

 SCHEDULE 5.17 

TO NOTE PURCHASE AGREEMENT 

ENERGY REGULATORY MATTERS 

Schedule 5.17 
 (to Note Purchase
Agreement) 

 SCHEDULE 5.27 

TO NOTE PURCHASE AGREEMENT 

TAX EQUITY DOCUMENTS 
 . 

Schedule 5.27 
 (to Note Purchase
Agreement) 

 SCHEDULE 10.1 

TO NOTE PURCHASE AGREEMENT 

TRANSACTIONS WITH AFFILIATES 

Schedule 10.1 
 (to Note Purchase
Agreement) 

 SCHEDULE 10.5 

TO NOTE PURCHASE AGREEMENT 

PERMITTED LIENS 
 Schedule
10.5 
 (to Note Purchase Agreement) 

 SCHEDULE 10.6 

TO NOTE PURCHASE AGREEMENT 

PERMITTED INDEBTEDNESS 

Schedule 10.6 
 (to Note Purchase
Agreement) 

 SCHEDULE 10.12 

TO NOTE PURCHASE AGREEMENT 

TAX CREDITS AND OTHER TAX RELATED MATTERS 

Schedule 10.12 
 (to Note Purchase
Agreement) 

 SCHEDULE A-1 

TO NOTE PURCHASE AGREEMENT 

KNOWLEDGE PERSONS 

Schedule A-1 

(to Note Purchase Agreement) 

 SCHEDULE A-2 

TO NOTE PURCHASE AGREEMENT 

PROJECTS 
 Schedule A-2 
 (to Note Purchase Agreement) 

 SCHEDULE A-3 

TO NOTE PURCHASE AGREEMENT 

CERTAIN POWER PURCHASE AGREEMENTS 

Schedule A-3 
 (to Note Purchase
Agreement)EX-4.3

 Exhibit 4.3 

Execution Version 
  

 
  

GSRP PORTFOLIO II LLC 

$597,500,000 
 3.10% Senior Notes
due June 29, 2046 
 Additional Senior Notes 

Subordinate Notes 
  

 

NOTE PURCHASE AGREEMENT 

 
  

Dated October 1, 2021 
  

 
  

 TABLE OF CONTENTS 

 

							
	 SECTION
	  	HEADING	  	 	PAGE	 
			
	 SECTION 1
	  	AUTHORIZATION OF NOTES	  	 	1	 
			
	 Section 1.1
	  	Amount; Establishment of Series	  	 	1	 
	 Section 1.2
	  	The Initial Notes	  	 	2	 
	 Section 1.3
	  	Issuance of Notes	  	 	2	 
	 Section 1.4
	  	Subordinate Notes	  	 	3	 
	 Section 1.5
	  	Priority of Security	  	 	4	 
			
	 SECTION 2.
	  	SALE AND PURCHASE OF THE INITIAL NOTES	  	 	4	 
			
	 SECTION 3.
	  	CLOSING	  	 	5	 
			
	 SECTION 4.
	  	CONDITIONS TO ISSUANCE OF NOTES	  	 	5	 
			
	 Section 4.1
	  	Initial Notes	  	 	5	 
	 Section 4.2
	  	Subsequent Notes	  	 	10	 
			
	 SECTION 5.
	  	REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS	  	 	11	 
			
	 Section 5.1
	  	Organization; Power and Authority	  	 	11	 
	 Section 5.2
	  	Authorization, Etc.	  	 	12	 
	 Section 5.3
	  	Disclosure.	  	 	12	 
	 Section 5.4
	  	Organization and Ownership of Shares of Subsidiaries	  	 	12	 
	 Section 5.5
	  	Compliance with Laws, Other Instruments, Etc.	  	 	13	 
	 Section 5.6
	  	Approvals, Governmental Authorizations, Etc.	  	 	13	 
	 Section 5.7
	  	Litigation; Observance of Agreements, Statutes and Orders	  	 	14	 
	 Section 5.8
	  	Taxes	  	 	14	 
	 Section 5.9
	  	Title to Property; Leases	  	 	16	 
	 Section 5.10
	  	Intellectual Property Licenses, Permits, Etc.	  	 	16	 
	 Section 5.11
	  	Compliance with Employee Benefit Plans	  	 	17	 
	 Section 5.12
	  	Private Offering by the Obligors	  	 	18	 
	 Section 5.13
	  	Use of Proceeds; Margin Regulations	  	 	18	 
	 Section 5.14
	  	Foreign Assets Control Regulations, Etc.	  	 	18	 
	 Section 5.15
	  	No Other Indebtedness	  	 	19	 
	 Section 5.16
	  	Status under Certain Statutes	  	 	19	 
	 Section 5.17
	  	Energy Regulatory	  	 	19	 
	 Section 5.18
	  	Environmental Matters	  	 	20	 
	 Section 5.19
	  	Labor Matters	  	 	21	 
	 Section 5.20
	  	Solvency	  	 	21	 
	 Section 5.21
	  	Nature of Business	  	 	21	 

  
 i 

							
	 Section 5.22
	  	Perfection and Priority of Lien	  	 	21	 
	 Section 5.23
	  	No Default or Event of Default	  	 	21	 
	 Section 5.24
	  	No Events of Loss	  	 	21	 
	 Section 5.25
	  	Insurance	  	 	22	 
	 Section 5.26
	  	Ranking of Obligations	  	 	22	 
	 Section 5.27
	  	Tax Equity Documents	  	 	22	 
	 Section 5.28
	  	No Material Adverse Effect	  	 	22	 
	 Section 5.29
	  	Utilities	  	 	22	 
			
	 SECTION 6.
	  	REPRESENTATIONS OF THE INITIAL PURCHASERS	  	 	22	 
			
	 Section 6.1
	  	Purchase for Investment, Etc.	  	 	22	 
	 Section 6.2
	  	Source of Funds	  	 	23	 
			
	 SECTION 7.
	  	INFORMATION AS TO COMPANY	  	 	24	 
			
	 Section 7.1
	  	Financial and Business Information	  	 	24	 
	 Section 7.2
	  	Officer’s Certificate	  	 	28	 
	 Section 7.3
	  	Investor Teleconference	  	 	28	 
	 Section 7.4
	  	Electronic Delivery	  	 	28	 
	 Section 7.5
	  	[Reserved]	  	 	29	 
	 Section 7.6
	  	Visitation	  	 	29	 
			
	 SECTION 8.
	  	PAYMENT AND PREPAYMENT OF THE NOTES	  	 	29	 
			
	 Section 8.1
	  	Required Payments; Maturity	  	 	29	 
	 Section 8.2
	  	Mandatory Offers to Prepay	  	 	32	 
	 Section 8.3
	  	Optional Prepayments with Make-Whole Amount	  	 	37	 
	 Section 8.4
	  	Allocation of Repayments and Partial Prepayments	  	 	38	 
	 Section 8.5
	  	Maturity; Surrender, Etc.	  	 	38	 
	 Section 8.6
	  	Purchase of Notes	  	 	38	 
	 Section 8.7
	  	Make-Whole Amount	  	 	39	 
	 Section 8.8
	  	Payments Due on Non-Business Days	  	 	40	 
	 Section 8.9
	  	Withholding	  	 	41	 
	 Section 8.10
	  	Calculations	  	 	41	 
			
	 SECTION 9.
	  	AFFIRMATIVE COVENANTS	  	 	41	 
			
	 Section 9.1
	  	Compliance with Laws	  	 	41	 
	 Section 9.2
	  	Insurance	  	 	41	 
	 Section 9.3
	  	Maintenance of Properties	  	 	42	 
	 Section 9.4
	  	Payment of Taxes and Claims	  	 	42	 
	 Section 9.5
	  	Corporate Existence, Etc.	  	 	42	 
	 Section 9.6
	  	Books and Records	  	 	42	 
	 Section 9.7
	  	Necessary Project Approvals	  	 	43	 
	 Section 9.8
	  	Performance of Obligations	  	 	43	 
	 Section 9.9
	  	Payment of Notes	  	 	43	 

  
 ii 

							
	 Section 9.10
	  	Maintenance of Title	  	 	43	 
	 Section 9.11
	  	Use of Proceeds	  	 	43	 
	 Section 9.12
	  	Credit Ratings	  	 	43	 
	 Section 9.13
	  	Further Assurances	  	 	44	 
	 Section 9.14
	  	Separateness	  	 	44	 
	 Section 9.15
	  	Preservation of Collateral	  	 	44	 
	 Section 9.16
	  	Subsidiary Distributions	  	 	44	 
	 Section 9.17
	  	Priority of Obligations	  	 	45	 
	 Section 9.18
	  	Reserved	  	 	45	 
	 Section 9.19
	  	Energy Regulatory Compliance	  	 	45	 
	 Section 9.20
	  	Tax Equity Guarantees	  	 	45	 
			
	 SECTION 10.
	  	NEGATIVE COVENANTS	  	 	45	 
			
	 Section 10.1
	  	Transactions with Affiliates	  	 	45	 
	 Section 10.2
	  	Merger, Consolidation, Disposition, Etc.	  	 	46	 
	 Section 10.3
	  	Line of Business	  	 	48	 
	 Section 10.4
	  	Economic Sanctions, Etc.	  	 	48	 
	 Section 10.5
	  	Liens	  	 	48	 
	 Section 10.6
	  	Indebtedness	  	 	51	 
	 Section 10.7
	  	Restricted Payments	  	 	53	 
	 Section 10.8
	  	Investments	  	 	54	 
	 Section 10.9
	  	Capital Expenditures	  	 	55	 
	 Section 10.10
	  	Restrictions on Subsidiary Dividends or Other Distributions	  	 	55	 
	 Section 10.11
	  	Tax Equity Guarantees	  	 	56	 
	 Section 10.12
	  	Tax Credits and Other Tax-Related Matters	  	 	57	 
	 Section 10.13
	  	Organizational Documents	  	 	57	 
	 Section 10.14
	  	Speculative Transactions	  	 	57	 
	 Section 10.15
	  	Refinancing	  	 	58	 
			
	 SECTION 11.
	  	EVENTS OF DEFAULT	  	 	59	 
			
	 SECTION 12.
	  	REMEDIES ON DEFAULT, ETC.	  	 	63	 
			
	 Section 12.1
	  	Acceleration	  	 	63	 
	 Section 12.2
	  	Other Remedies	  	 	64	 
	 Section 12.3
	  	Rescission	  	 	64	 
	 Section 12.4
	  	No Waivers or Election of Remedies, Expenses, Etc.	  	 	64	 
	 Section 12.5
	  	Default Rate	  	 	65	 
			
	 SECTION 13.
	  	GUARANTEE, ETC.	  	 	65	 
			
	 Section 13.1
	  	Guarantee	  	 	65	 
	 Section 13.2
	  	Obligations Unconditional	  	 	65	 
	 Section 13.3
	  	Instrument for the Payment of Money	  	 	68	 
	 Section 13.4
	  	General Limitation on Guarantee Obligations	  	 	68	 
	 Section 13.5
	  	Discharge of Guaranty Upon Sale of Guarantor	  	 	68	 
	 Section 13.6
	  	Additional Guarantors	  	 	68	 
	 Section13.7
	  	Subordinate Notes	  	 	69	 

  
 iii 

							
			
	 SECTION 14.
	  	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	  	 	69	 
			
	 Section 14.1
	  	Registration of Notes	  	 	69	 
	 Section 14.2
	  	Transfer and Exchange of Notes	  	 	69	 
	 Section 14.3
	  	Replacement of Notes	  	 	70	 
			
	 SECTION 15.
	  	PAYMENTS ON NOTES; APPOINTMENT OF FIRST LIEN COLLATERAL AGENT	  	 	70	 
			
	 Section 15.1
	  	Place of Payment	  	 	70	 
	 Section 15.2
	  	Payment by Wire Transfer	  	 	70	 
	 Section 15.3
	  	Tax Information	  	 	71	 
	 Section 15.4
	  	Appointment	  	 	72	 
	 Section 15.5
	  	Incorporation by Reference	  	 	72	 
	 Section 15.6
	  	Appointment of Notes Agent	  	 	72	 
			
	 SECTION 16.
	  	EXPENSES, ETC.	  	 	73	 
			
	 Section 16.1
	  	Transaction Expenses	  	 	73	 
	 Section 16.2
	  	Certain Taxes	  	 	74	 
	 Section 16.3
	  	Survival	  	 	74	 
			
	 SECTION 17.
	  	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	  	 	74	 
			
	 Section 18.
	  	AMENDMENT AND WAIVER	  	 	74	 
			
	 Section 18.1
	  	Requirements	  	 	74	 
	 Section 18.2
	  	Solicitation of Holders of Notes	  	 	75	 
	 Section 18.3
	  	Binding Effect, Etc.	  	 	75	 
	 Section 18.4
	  	Notes Held by Company, Etc.	  	 	76	 
			
	 SECTION 19.
	  	NOTICES	  	 	76	 
			
	 SECTION 20.
	  	REPRODUCTION OF DOCUMENTS	  	 	77	 
			
	 SECTION 21.
	  	CONFIDENTIAL INFORMATION	  	 	77	 
			
	 SECTION 22.
	  	SUBSTITUTION OF PURCHASER	  	 	79	 
			
	 SECTION 23.
	  	MISCELLANEOUS	  	 	79	 
			
	 Section 23.1
	  	Successors and Assigns	  	 	79	 
	 Section 23.2
	  	Accounting Terms	  	 	80	 
	 Section 23.3
	  	Severability	  	 	80	 

  
 iv 

							
	 Section 23.4
	  	Construction, Etc.	  	 	80	 
	 Section 23.5
	  	Counterparts	  	 	81	 
	 Section 23.6
	  	Governing Law	  	 	81	 
	 Section 23.7
	  	Jurisdiction and Process; Waiver of Jury Trial	  	 	81	 
	 Section 23.8
	  	Intercreditor Agreement	  	 	82	 
	 Section 23.9
	  	USA PATRIOT Act	  	 	82	 
	 Section 23.10
	  	Limitations on Recourse	  	 	82	 

  
 v 

 EXHIBITS 
  

							
	 EXHIBIT A
	  	 	—	 	  	Defined Terms
	 EXHIBIT B-1
	  	 	—	 	  	Form of 3.10% Senior Note due June 29, 2046
	 EXHIBIT B-2
	  	 	—	 	  	Form of Additional Senior Note
	 EXHIBIT B-3
	  	 	—	 	  	Form of Subordinate Note
	 EXHIBIT C
	  	 	—	 	  	Form of Supplemental NPA
	 EXHIBIT D
	  	 	—	 	  	Form of Opinion of Special Counsel for the Obligors
	 EXHIBIT E
	  	 	—	 	  	Form of Insurance Consultant Certificate
	 EXHIBIT F
	  	 	—	 	  	Form of Independent Engineer Certificate
	 EXHIBIT G
	  	 	—	 	  	Form of Market Consultant Certificate
	 EXHIBIT H
	  	 	—	 	  	Form of Operating Statement
	 EXHIBIT I
	  	 	—	 	  	Form of Joinder Agreement
	 EXHIBIT J
	  	 	—	 	  	Form of Subordination Agreement

 SCHEDULES 
  

							
	 SCHEDULE 5.4
	  	 	—	 	  	Subsidiaries of the Obligors and Ownership of Subsidiary Stock
	 SCHEDULE 5.7
	  	 	—	 	  	Litigation
	 SCHEDULE 5.8
	  	 	—	 	  	Taxes
	 SCHEDULE 5.15
	  	 	—	 	  	Indebtedness
	 SCHEDULE 5.17
	  	 	—	 	  	Energy Regulatory Matters
	 SCHEDULE 10.1
	  	 	—	 	  	Transactions with Affiliates
	 SCHEDULE 10.5
	  	 	—	 	  	Permitted Liens
	 SCHEDULE 10.6
	  	 	—	 	  	Permitted Indebtedness
	 SCHEDULE 10.12
	  	 	—	 	  	Tax Credits and Other Tax-Related Matters
	 SCHEDULE A-1
	  	 	—	 	  	Knowledge Persons
	 SCHEDULE A-2
	  	 	—	 	  	Projects
	 SCHEDULE A-3
	  	 	—	 	  	Certain Power Purchase Agreements
	 SCHEDULE A-4
	  	 	—	 	  	Existing Project Financing Documents
	 SCHEDULE A-5
	  	 	—	 	  	EPC Contractors

  
 vi 

							
	 SCHEDULE A-6
	  	 	—	 	  	Cash Grant Projects
	 SCHEDULE A-7
	  	 	—	 	  	[Reserved]
	 SCHEDULE A-8
	  	 	—	 	  	Qualified Replacement Manager Individuals
	 PURCHASER
	  	 	—	 	  	Information Relating to Initial Purchasers
	 SCHEDULE
	  				  	

  
 vii 

 GSRP PORTFOLIO II LLC 

200 West Street 
 New York, New York
10282 
 3.10% Senior Notes due June 29, 2046 

October 1, 2021 
 TO
EACH OF THE PURCHASERS LISTED IN 

THE PURCHASER SCHEDULE HERETO, 

MUFG UNION BANK, N.A., AS FIRST LIEN COLLATERAL
AGENT 
 MUFG BANK, LTD., AS INTERCREDITOR AGENT

 AND MUFG UNION BANK, N.A., As NOTES AGENT: 

Ladies and Gentlemen: 
 GSRP Portfolio II LLC, a
Delaware limited liability company (the “Company”), each Portfolio Holding Company (together with each other Person that becomes a party hereto as a guarantor in accordance with Section 13, collectively, the
“Guarantors”, and together with the Company, the “Obligors”) and GSRP Portfolio II HoldCo LLC, a Delaware limited liability company (“Holdings”), agree with each of the purchasers under the caption
“INITIAL PURCHASERS” on the signature pages hereof (each, an “Initial Purchaser” and, collectively, the “Initial Purchasers”) and each purchaser that executes and delivers a Supplemental NPA as provided in
Section 1.3 (each, together with each Initial Purchaser, a “Purchaser” and, collectively with the Initial Purchasers, the “Purchasers”), MUFG Union Bank, N.A., not in its individual capacity but solely as first
lien collateral agent appointed in accordance herewith (together with its successors and assigns in such capacity, the “First Lien Collateral Agent”), MUFG Bank, Ltd., not in its individual capacity but solely as Intercreditor Agent
(as defined herein) and MUFG Union Bank, N.A., not in its individual capacity but solely as the Notes Agent (as defined herein) appointed in accordance herewith, as follows: 
  

	SECTION	 1. AUTHORIZATION OF NOTES. 

Section 1.1 Amount; Establishment of Series. 

The Company will authorize the issue and sale, subject to the terms and conditions of this Agreement, of up to $597,500,000 aggregate principal
amount of its guaranteed senior secured notes as provided in Section 1.2. In addition, the Company may issue and sell, subject to the terms and conditions of this Agreement, (a) an unlimited aggregate principal amount of additional
guaranteed senior secured notes substantially in the form of Exhibit B-2 as provided in Section 1.3 (the “Additional Senior Notes” and, together with the Initial Notes, the “Senior Notes”, such terms to include
any Senior Notes issued in substitution therefor pursuant to Section 14) and (b) an unlimited aggregate principal amount of subordinated notes substantially in the form of Exhibit B-3 as provided in Section 1.3 (the
“Subordinate Notes”, such term to include any Subordinate Notes issued in substitution therefor pursuant to Section 14). The Additional Senior Notes and Subordinate Notes may be issued in one or more series (each a
“Series” of Notes), subject to compliance with the terms and conditions of this Agreement. Certain capitalized and other terms used in this Agreement are defined in Exhibit A and, for purposes of this Agreement, the rules of
construction set forth in Section 23.4 shall govern. 

 Section 1.2 The Initial Notes. 

The Company will authorize, as the initial Series of Senior Notes hereunder, the issue and sale of $597,500,000 aggregate principal amount of
its 3.10% Senior Notes due June 29, 2046 (the “Initial Notes”). The Initial Notes shall be substantially in the form set out in Exhibit B-1, with such changes therefrom, if any, as may be approved by each Purchaser and the
Obligors. 
 Section 1.3 Issuance of Notes. 

Each Series of Notes (other than the Initial Notes) will be issued pursuant to a supplemental note purchase agreement substantially in the
form of Exhibit C (each, a “Supplemental NPA”), and will be subject to the following terms and conditions: 
 (a) the
designation of each Series of Notes shall distinguish the Notes of one Series from the Notes of all other Series; 
 (b) each Supplemental
NPA shall specify whether the Series of Notes issued pursuant thereto shall constitute Additional Senior Notes or Subordinate Notes; 
 (c)
the Notes of each Series of Additional Senior Notes shall rank pari passu in right of payment with the Notes of each other Series of Senior Notes; 

(d) subject to Section 1.3(f), each Series of Additional Senior Notes or Subordinate Notes shall be dated the date of issue, shall bear
interest at such rate or rates, shall mature on such date or dates, if any, as are provided in the Supplemental NPA under which such Additional Senior Notes or Subordinate Notes are issued, may be issued in such denominations, may be subject to
payment of such Make-Whole Amount or premium or without premium, may contain tax indemnification provisions, and provisions for the exchange or transfer of such Additional Senior Notes or Subordinate Notes and may have such additional or different
conditions precedent to closing and such additional or different representations and warranties or other terms and provisions as shall be specified in such Supplemental NPA; 

(e) any additional, or more restrictive, covenants, Events of Default, rights or similar provisions (including tax indemnification
provisions) that are added by a Supplemental NPA for the benefit of any Additional Senior Notes to be issued pursuant to such Supplemental NPA shall apply to all outstanding Senior Notes, whether or not the Supplemental NPA so provides, but shall
only apply to all outstanding Subordinate Notes if the applicable Supplemental NPA so provides, and any additional, or more restrictive, covenants, Events of Default, rights or similar provisions that are added by a Supplemental NPA for the benefit
of any Subordinate Notes to be issued pursuant to such Supplemental NPA shall apply to all outstanding Notes, whether or not the Supplemental NPA so provides; 

  
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 (f) (i) the Additional Senior Notes shall have a final maturity date not earlier than
the Maturity Date of the Initial Notes and a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of the Initial Notes, and the Additional Senior Notes shall not be prepayable or redeemable except in
connection with any offer to repay or optional redemption on a pro rata basis with all Senior Notes then outstanding and, where relevant, the Senior Notes of holders accepting such offer to repay or upon acceleration thereof; (ii) the
Subordinate Notes of any Series shall have a final maturity date not earlier than at least one year after the latest Maturity Date of the Senior Notes then outstanding and a Weighted Average Life to Maturity equal to or greater than the Weighted
Average Life to Maturity of the Senior Notes then outstanding; and (iii) the Subordinate Notes shall not be prepayable or redeemable prior to the repayment in full of all Senior Notes at any time outstanding, except that, so long as no Default
or Event of Default then exists, the Company shall be permitted to offer to repay or redeem Subordinate Notes (and complete such offer) (x) in circumstances where (A) the Company has made a mandatory offer to repay or redeem required
pursuant to this Agreement or a voluntary offer to repay or redeem to all holders of the Senior Notes, (B) each such offer made to the holders of Senior Notes specifies the Company’s intention to make an offer to the holders of Subordinate
Notes to repay or redeem their Subordinate Notes (such an offer described in clauses (A) and (B), a “Senior Notes Offer”), and (C) the mandatory or voluntary offer to the holders of Subordinate Notes is made subject to the
Company completing the repayment or redemption of the Senior Notes to such holders that accept the Company’s Senior Notes Offer, (y) so long as the Distribution Conditions have been satisfied, with cash otherwise available for the transfer
in the Distribution Reserve Account or (z) with the proceeds of any equity contributions to the Company. 
 (g) except to the extent
provided in clauses (d) or (e) above or as otherwise specified in this Agreement, all of the provisions of this Agreement shall apply to the Notes of each Series; and 

(h) the issuance of Additional Senior Notes or any Subordinate Notes shall be subject to the satisfaction of the conditions set forth in
Section 4.2. 
 The Purchasers of the Initial Notes or any Additional Senior Notes or Subordinate Notes are under no obligation to
purchase any subsequent Series of Notes. 
 Upon the issuance of any Additional Senior Notes or Subordinate Notes, the Company shall, at its
expense, provide, or cause to be provided, to each holder the Supplemental NPA entered into in connection with such Notes. 

Section 1.4 Subordinate Notes. 

The Supplemental NPA pursuant to which any Series of Subordinate Notes is issued shall specify whether or not the Subordinate Notes of such
Series will be unsecured or entitled to the benefits of a second priority Lien on the Collateral, subject to Section 1.5. A second lien collateral agent shall be appointed pursuant to any Supplemental NPA in respect of any Series of Subordinate
Notes that will be entitled to a second priority Lien on the Collateral, such second lien collateral agent shall enter into a joinder to the Intercreditor Agreement and such Series of Subordinate Notes shall be subject to the terms of the
Intercreditor Agreement. Any Series of unsecured Subordinate Notes shall be subject, notwithstanding any provision hereof or of any Supplemental NPA to the contrary, to the terms of a subordination agreement substantially in the form of Exhibit J or
any other form of subordination agreement satisfactory to the Required Holders (any such 

  
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subordination agreement actually entered into, the “Subordination Agreement”). If at any time a Default or an Event of Default has occurred and is continuing, holders of
Subordinate Notes shall not be entitled to any vote hereunder, other than in respect of matters related exclusively to Subordinate Notes, as provided in Section 18, or as expressly provided in the Intercreditor Agreement or Subordination
Agreement, as applicable; provided that this restriction on voting will cease to apply once all Senior Notes outstanding have been repaid in full in cash and cancelled. 

Section 1.5 Priority of Security. 

(a) Subject to the provisions of this Agreement, all Senior Notes, as soon as issued, shall rank pari passu and be secured equally and
ratably by the Collateral without discrimination or preference with all other Senior Notes as if all of the Senior Notes had been issued simultaneously. Any Series of Subordinate Notes that is entitled to the benefits of the Collateral pursuant to
the terms of the Supplemental NPA for such Series shall be secured by a second priority Lien on the Collateral pursuant to Second Lien Security Documents in accordance with the Intercreditor Agreement. Any Series of Subordinate Notes may rank senior
to, junior to or pari passu with one or more other Series of Subordinate Notes; provided that in all events the Subordinate Notes will be subordinate to the Senior Notes as provided in this Agreement, the Intercreditor Agreement and
any applicable Subordination Agreement. 
 (b) The Collateral is for the equal and ratable benefit and security of all the First Lien
Secured Parties, subject to the terms of the Intercreditor Agreement, without any preference or priority of any Senior Note of any Series over any other Senior Note of any Series. 

(c) The Senior Notes shall rank prior to the Subordinate Notes in respect of any Liens and security interests created by the Security
Documents. The priority of the Senior Notes over the Subordinate Notes shall be effective in all events and in all circumstances and, without limiting the generality of the foregoing, such priority shall be effective notwithstanding the dates of
issue or delivery of any Notes, the dates of any advances evidenced or collaterally secured by any Notes, the dates of enforcement of remedies following an Event of Default pursuant to the terms of this Agreement or any Supplemental NPA or the rules
of priority established under Applicable Law. 
  

	SECTION	 2. SALE AND PURCHASE OF THE INITIAL NOTES. 

Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Initial Purchaser and each Initial Purchaser
will purchase from the Company, at the Closing provided for in Section 3, Initial Notes in the principal amount specified opposite such Initial Purchaser’s name in the Purchaser Schedule at the purchase price of 100% of the principal
amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder. 

  
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	SECTION	 3. CLOSING 

Subject to the satisfaction of the conditions set forth in Section 4.1, the sale and purchase of the Initial Notes to be purchased by each
Purchaser shall occur at the offices of Latham & Watkins LLP, 1271 Avenue of the Americas, New York, NY 10020, at 10:00 a.m., New York time, at a closing (the “Closing”) on October 1, 2021. At the Closing, the Company
will deliver to each Initial Purchaser the Initial Notes to be purchased by such Initial Purchaser in the form of a single Initial Note (or such greater number of Initial Notes in denominations of at least $500,000 as such Initial Purchaser may
request) dated the date of the Closing and registered in such Initial Purchaser’s name (or in the name of its nominee), against delivery by such Initial Purchaser to the Company or its order of immediately available funds in the amount of the
purchase price therefor by wire transfer of immediately available funds for the account of the Company in accordance with the funding instructions delivered pursuant to Section 4.1(j). If at the Closing the Company shall fail to tender such
Initial Notes to any Initial Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4.1 shall not have been fulfilled to such Initial Purchaser’s satisfaction, such Initial Purchaser shall, at its
election, be relieved of all further obligations under this Agreement, without thereby waiving any rights such Initial Purchaser may have by reason of such failure by the Company to tender such Initial Notes or any of the conditions specified in
Section 4.1 not having been fulfilled to such Initial Purchaser’s satisfaction. 
  

	SECTION	 4. CONDITIONS TO ISSUANCE OF NOTES. 

Section 4.1 Initial Notes. 

Each Initial Purchaser’s obligation to purchase and pay for the Initial Notes to be sold to such Initial Purchaser at the Closing is
subject to the fulfillment to such Initial Purchaser’s satisfaction, prior to or at the Closing, of the following conditions: 
  

(a) Representations and Warranties. The representations and warranties of each of the Obligors in this Agreement and each other Note
Document to which it is a party shall be true and correct when made and at the Closing. 
 (b) No Default. Before and immediately
after giving effect to the issue and sale of the Initial Notes (and the application of the proceeds thereof as contemplated by Section 5.13) and the consummation of the other transactions, including the LC Facility, at the Closing, no Default
or Event of Default shall have occurred and be continuing. 
 (c) Compliance Certificates. 

(i) The Company shall have delivered to such Initial Purchaser an Officer’s Certificate, dated the date of the Closing,
certifying, as to the conditions specified in Section 4.1(a), and, to such Authorized Officer’s Knowledge, Section 4.1(b) and each other matter required to be certified by the Company pursuant to this Section 4.1. 

(ii) Each Obligor and Holdings shall have delivered to such Initial Purchaser a certificate of an Authorized Officer, dated
the date of the Closing, certifying as to (A) the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Initial Notes, this Agreement and the other Note Documents to which it
is a party, (B) such Obligor’s or Holdings’, as applicable, Organizational Documents as then in effect and (C) the names and signature of the Authorized Officers authorized to sign this Agreement on behalf of such Obligor or
Holdings, as applicable, and each other Note Document to which it is a party, and other documents to be delivered hereunder. 

  
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 (d) Good Standing Certificates. Each Obligor and Holdings shall have delivered to
such Initial Purchaser a certificate as to the good standing of and payment of franchise Taxes by such Obligor and Holdings from the Secretary of State of the State of such Obligor’s or Holdings’, as applicable, organization dated as of a
recent date. 
 (e) Opinion of Counsel. Such Initial Purchaser shall have received opinions in form and substance satisfactory to
such Initial Purchaser, dated as of the date of the Closing, (i) from Skadden, Arps, Slate, Meagher & Flom LLP, special counsel for the Obligors, covering the New York law and Delaware law (with respect to corporate formation,
authorization, execution and delivery and customary UCC security interest) matters set forth on Exhibit D and covering such other New York law matters incident to the transactions contemplated hereby as such Initial Purchaser or its counsel may
reasonably request (and the Company hereby instructs its counsel to deliver such opinion to the Initial Purchasers) and (ii) from Latham & Watkins LLP, special counsel for the Initial Purchasers in connection with such transactions,
covering New York law matters incident to the transactions contemplated hereby and such other matters incident to such transactions as such Initial Purchaser may reasonably request. 

(f) Purchase Permitted By Applicable Law, Etc. On the date of the Closing, such Initial Purchaser’s purchase of Initial Notes
shall (i) be permitted by the laws and regulations of each jurisdiction to which such Initial Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by
insurance companies without restriction as to the character of the particular investment, (ii) not violate any applicable law or regulation (including Regulation T, U or X of the Board of Governors of the Federal Reserve System) and
(iii) not subject such Initial Purchaser to any penalty or liability (other than any Tax liability) under or pursuant to any applicable law or regulation. If requested by such Initial Purchaser, such Initial Purchaser shall have received an
Officer’s Certificate certifying as to such matters of fact as such Initial Purchaser may reasonably specify to enable such Initial Purchaser to determine whether such purchase is so permitted. 

(g) Payment of Fees; Taxes. Without limiting Section 16.1 or any other expense reimbursement obligation under the Note Documents,
the Company shall have paid on or before the Closing (i) the reasonable and documented fees, charges and disbursements of the Placement Agents, the First Lien Collateral Agent, the Notes Agent, the Depositary Bank, consultants to the First Lien
Secured Parties (including the Independent Engineer, the Market Consultant and the Insurance Consultant) and Latham & Watkins LLP, special counsel to the Initial Purchasers and the other First Lien Secured Parties, in each case, to the
extent reflected in a statement of such Person rendered to the Company at least two Business Days prior to the Closing, (ii) all recording, documentary, filing, intangible, stamp or other similar Taxes and other expenses related to such
filings, registrations and recordings necessary for the consummation of the transactions contemplated by this Agreement and the other Note Documents and (iii) all other fees and expenses then due and payable by the Obligors pursuant to the
Financing Documents to the extent reflected in a statement of the applicable payee rendered to the Company at least two Business Days prior to the date of the Closing. 

  
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 (h) Private Placement Number. A Private Placement Number issued by
Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for the Initial Notes. 
 (i)
Sale of Other Notes. Contemporaneously with the Closing the Company shall sell to each Initial Purchaser, and each Initial Purchaser shall purchase, the Initial Notes to be purchased by it at the Closing as specified in the Purchaser
Schedule. 
 (j) Funding Instructions; Funds Flow. At least three Business Days prior to the date of the Closing, each Initial
Purchaser (or its representative) shall have received written instructions signed by an Authorized Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and address of the transferee
bank, (ii) such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Initial Notes is to be deposited. In addition, the Company shall have delivered a funds flow memorandum to the
Initial Purchasers setting forth the use of proceeds of the Initial Notes. Each Initial Purchaser has the right, but not the obligation, upon written notice (which may be by email) to the Company, to elect to deliver a micro deposit (less than
$51.00) to the account identified in the written instructions no later than two Business Days prior to Closing. If an Initial Purchaser delivers a micro deposit, an Authorized Officer must verbally verify the receipt and amount of the micro deposit
to such Purchaser on a telephone call initiated by such Initial Purchaser prior to the date of the Closing. The Company shall not be obligated to return the amount of the micro deposit, nor shall the amount of the micro deposit be netted against the
Initial Purchaser’s purchase price of the Notes. 
 (k) Financing Documents. Such Initial Purchaser and the First Lien
Collateral Agent shall have received certified, complete and correct copies of all of the Financing Documents (together with any amendments, supplements, schedules and exhibits thereto), duly executed and delivered by Holdings, as applicable, and
each Obligor party thereto. 
 (l) LC Facility. The “Closing Date” under and as defined in the LC Facility Credit
Agreement shall have occurred. 
 (m) Depositary Accounts. The Company and the Depositary Bank shall have established and opened the
Depositary Accounts in accordance with the terms of the Depositary Agreement. The Debt Service Reserve Account shall be funded (or the funds flow memorandum delivered pursuant to Section 4.1(j) shall reflect that it will be funded substantially
contemporaneously with the Closing) pursuant to and as required by the Depositary Agreement (including, as applicable, by the issuance of a Letter of Credit). The Buyout Reserve Account shall be funded (or the funds flow memorandum delivered
pursuant to Section 4.1(j) shall reflect that it will be funded substantially contemporaneously with the Closing) pursuant to and as required by the Depositary Agreement (including, as applicable, by the issuance of a Buyout Reserve Letter of
Credit). 

  
 7 

 (n) Lien Searches. Such Initial Purchaser shall have received reports of searches of
bankruptcy and litigation proceedings in respect of each Obligor and Holdings for the jurisdiction in which such Obligor and Holdings is located and of UCC filings and tax liens, in each case reasonably satisfactory to such Initial Purchaser, in the
jurisdiction of formation or organization, as applicable, of each Obligor and Holdings, or where a filing has been or would need to be made in order to perfect the First Lien Collateral Agent’s security interest in the Collateral, together with
copies of all such filings disclosed by such searches, and UCC-3 termination statements for filing in all applicable jurisdictions as may be necessary to terminate any effective UCC-1 financing statements or fixture filings disclosed in such reports
(other than any such financing statements or fixture filings in respect of Permitted Liens). 
 (o) Security. 

(i) Valid and perfected first priority security interests (subject only to Permitted Liens) in the Collateral shall have been
created in favor of the First Lien Collateral Agent for the benefit of the First Lien Secured Parties, in each case, in form and substance reasonably satisfactory to such Initial Purchaser, and such Initial Purchaser shall have received evidence of
the filing or registration of all appropriate documents and payment of all related fees and expenses in accordance with Applicable Law necessary for the creation and perfection of the Liens intended to be created by the First Lien Security
Documents, all in form and substance reasonably satisfactory to such Initial Purchaser. 
 (ii) The equity interest
certificates representing the Pledged Collateral referred to in (and as defined in) the First Lien Pledge and Security Agreement accompanied by undated transfer powers executed in blank and instruments evidencing the Pledged Collateral referred to
in (and as defined in) the First Lien Pledge and Security Agreement, indorsed in blank, shall have been delivered to the First Lien Collateral Agent. 

(p) Insurance. Such Initial Purchaser shall have received (i) evidence (including appropriate certificates of insurance)
reasonably satisfactory to such Initial Purchaser that the insurance required to be obtained and maintained by the Obligors and their Subsidiaries pursuant to the Financing Documents is in full force and effect and (ii) a report of the
Insurance Consultant addressed to, and in form and substance reasonably satisfactory to, the Initial Purchasers, discussing, among other matters, the adequacy of the insurance coverage of the portfolio, together with a certificate of the Insurance
Consultant in the form of Exhibit E appropriately completed. 
 (q) Consultant Reports. The Company shall have delivered (or caused
to be delivered) to each Initial Purchaser: (i) the Independent Engineer Report, together with a certificate of the Independent Engineer in the form of Exhibit F appropriately completed and (ii) the Market Consultant Report, together with
a certificate of the Market Consultant in the form of Exhibit G appropriately completed, in each case, in form and substance reasonably satisfactory to such Initial Purchaser. Each of the Independent Engineer Report and the Market Consultant Report
shall state that (or the aforementioned certificate from the issuer of the applicable report shall state that), subject to the qualifications and assumptions set forth in such report, such Initial Purchaser shall be entitled to rely on such report.

  
 8 

 (r) Base Case Projections. Such Initial Purchaser shall have received the base case
financial model (the “Base Case Projections”), in form and substance reasonably satisfactory to such Initial Purchaser (in consultation with the Independent Engineer), certified, as of the date of the Closing, by an Authorized
Officer as to the reasonableness of the underlying assumptions based thereon. 
 (s) Credit Rating on Initial Notes. Such Initial
Purchaser shall have received a copy of a letter issued by the Applicable Rating Agency assigning at least a “BBB-” Credit Rating (or the equivalent) in respect of the Initial Notes. 

(t) Litigation. There shall be no pending or, to the Company’s Knowledge, threatened action, suit or proceeding of or before any
Governmental Authority that relates to (i) the Company, any other Obligor, any Subsidiary of any Obligor or any Project or (ii) to any transaction contemplated by any of the Note Documents, except, in each case, as set forth on Schedule
5.7 or that would not otherwise, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (u) KYC
and USA PATRIOT Act. To the extent requested by the Initial Purchasers at least 10 Business Days prior to the date of the Closing, such Initial Purchasers shall have received all documentation and other information with respect to Holdings, the
Obligors and their Subsidiaries required to allow such Initial Purchaser to comply with Applicable Law and related internal procedures relating to “know your customer” and anti-money laundering rules and regulations, including the USA
PATRIOT Act, which are applicable to the Initial Purchasers. 
 (v) Solvency Certificate. The Company shall have delivered to such
Initial Purchaser certificates from an Authorized Officer certifying that, immediately after giving effect to the transactions contemplated hereunder, the Company and its Subsidiaries, on a consolidated basis, are Solvent. 

(w) No Material Adverse Effect. Since August 18, 2021, there has been no Material Adverse Effect. 

(x) Construction Project Documents. With respect to each Construction Project, the Company shall have delivered to such Initial
Purchaser: 
 (i) (a) a construction budget for such Construction Project, including all of the project costs for such
Construction Project and a contingency amount for cost overruns equal to 3.0 % of such project costs, and (b) a construction schedule for such Construction Project demonstrating that such Construction Project is projected to achieve
commercial operation prior to the specified outside date in its Power Purchase Agreement; 

  
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 (ii) (a) a copy of the EPC Contract for such Construction Project,
which shall have been duly executed and be in full force and effect, (b) an unconditional notice to proceed or other evidence that the EPC Contractor with respect to such Construction Project shall have been given or otherwise been
unconditionally directed to begin performance under the EPC Contract to which it is a party on or prior to the date of the Closing, (c) copies of all equipment procurement arrangements relating to modules, batteries, racking systems and
inverters, as applicable, for such Construction Project (if such equipment is not otherwise procured for the Project Company pursuant to the EPC Contract), each of which shall have been duly executed and be in full force and effect and
(d) pre-construction drawings for such Construction Project; and 
 (iii) copies of the most recently available, if
any, quarterly and annual financial statements of the EPC Contractor for such Construction Project, to the extent such EPC Contractor is not a public reporting company. 

(y) Construction Project Credit Support. Available commitments under the LC Facility are adequate in amount to satisfy contractual
credit support requirements of counterparties relating to each Construction Project. 
 Section 4.2 Subsequent Notes. 

The issuance and sale by the Company of any Series of Additional Senior Notes or Subordinate Notes from time to time is subject to the
satisfaction, prior to or on the date of issuance thereof, of the conditions precedent set forth below: 
 (a) Representations and
Warranties. The representations and warranties of each of the Obligors in this Agreement and each other Note Document to which it is a party shall be true and correct as of the date of such issuance and sale; provided that, so long as no
Default or Event of Default has occurred and is continuing, the Company shall be permitted to deliver updated schedules to the Purchasers as of such date of issuance and such updated schedules shall qualify the representations and warranties of each
of the Obligors in this Agreement for purposes of this Section 4.2(a). 
 (b) Execution and Delivery of Notes. Such Additional
Senior Notes or Subordinate Notes shall have been duly executed and delivered by the Company to each Purchaser of such Series of Notes. 

(c) Supplemental NPA. A Supplemental NPA pursuant to which such Series of Notes is to be issued shall have been duly executed by the
Company and each Purchaser of such Series of Notes. 
 (d) Debt Service Reserve Account. The Debt Service Reserve Account shall be
funded to its then required level (taking into consideration the issuance of the Additional Senior Notes) pursuant to and as required by the Depositary Agreement (including, as applicable, by the issuance of a DSR Letter of Credit (as defined in the
Depositary Agreement)). If applicable, each of the Supplemental Reserve Account and the Buyout Reserve Account shall be funded to its then required level (taking into consideration the issuance of the Additional Senior Notes) pursuant to and as
required by the Depositary Agreement (including, as applicable, by the issuance of a Supplemental Reserve Letter of Credit or a Buyout Reserve Letter of Credit (as each such term is defined in the Depositary Agreement)). 

  
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 (e) Rating Condition. As of the date that the Additional Senior Notes or Subordinate
Notes are issued, and immediately after giving effect thereto, the Rating Condition shall be satisfied. 
 (f) Debt Service Coverage
Ratio. The (i) projected average Debt Service Coverage Ratio through the Maturity Date shall be greater than or equal to 1.6:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be
greater than or equal to 1.3:1.0, in each case, after giving pro forma effect to the Series of Additional Senior Notes being issued; and (ii) to the extent such Series of Notes are unsecured or secured on a second lien basis, the
projected average Debt Service Coverage Ratio (calculated as though Debt Service were defined to include all Indebtedness of the Company for borrowed money that is unsecured or secured on a first priority basis or second priority basis) through the
Maturity Date shall be greater than or equal to 1.2:1.0. 
 (g) No Default. Before and after giving effect to the issue and sale of
such Additional Senior Notes or Subordinate Notes, no Default or Event of Default shall have occurred and be continuing. 
 (h)
Intercreditor or Subordination Agreement. With respect to any Subordinate Notes, (i) if such Subordinate Notes are secured by a second Lien on the Collateral, a second lien collateral agent appointed pursuant to the applicable
Supplemental NPA shall have executed and delivered to the First Lien Collateral Agent a joinder to the Intercreditor Agreement or (ii) if such Subordinate Notes are unsecured, a note holder representative appointed pursuant to the applicable
Supplemental NPA shall have executed and delivered to the First Lien Collateral Agent a Subordination Agreement. 
  

	SECTION	 5. REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS. 

Each of the Obligors represents and warrants to each Initial Purchaser, as to such Obligor (and, as applicable, its Subsidiaries) as of the
date of the Closing, that: 
 Section 5.1 Organization; Power and Authority. Such Obligor and each Project Company is duly
formed, validly existing and in good standing under the laws of the jurisdiction of its organization (except as would not be material to the interests of the holders of the Notes), and is duly qualified and in good standing in each jurisdiction in
which such qualification is required by law, in each case other than those jurisdictions as to which the failure to be duly qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. Such Obligor has the power and authority to execute and deliver this Agreement, the Notes and the other Financing Documents to which it is a party and to perform the provisions hereof and thereof and to create the Liens intended to be
created by the Security Documents. Such Obligor and each Subsidiary thereof has the power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to
transact, except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 Section 5.2 Authorization, Etc. Each of the Note Documents to which such Obligor
is a party has been duly authorized by all necessary corporate or other organizational action on the part of such Person, and upon execution and delivery thereof, each Note Document will constitute, a legal, valid and binding obligation of such
Obligor enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors’ rights generally and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

Section 5.3 Disclosure. The Company, through the Placement Agents, has delivered to each Purchaser a copy of the Private Placement
Memorandum, dated July 2021 and the Risk Considerations dated July 2021, (collectively, the “Memorandum”), relating to the transactions contemplated hereby. The Memorandum fairly describes, in all material respects, the general
nature of the business and principal properties of the Obligors and their respective Subsidiaries. The information contained in this Agreement, the Memorandum and each other Note Document (in each case, other than projections, forward looking
information, information of a general industry nature and any report delivered by a third party consultant) delivered to the Purchasers by or on behalf of the Company for use in connection with the transactions contemplated hereby, taken as a whole,
do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements contained herein or therein (taken as a whole) not misleading in light of the circumstances under which they were made. Except
as set forth in the Memorandum, this Agreement and the other Note Documents, since August 18, 2021, there has been no change in the financial condition, operations, business, properties or prospects of the Company or any Subsidiary except
changes that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Base Case Projections for the period from the date of the Closing through June 29, 2046 and the construction budgets
delivered pursuant to Section 4.1(x)(i), each of which are excluded from the information covered by the immediately preceding sentence, have been prepared in good faith using assumptions believed by the Company to be reasonable at the time made with
no assurances as to actual outcome which may deviate materially from such forecast and projections. 
 Section 5.4 Organization and
Ownership of Shares of Subsidiaries. 
 (a) Schedule 5.4 contains (except as noted therein and except for inaccuracies that are not
material) complete and correct lists of the Company’s Subsidiaries as of the date of the Closing, showing, as to each Subsidiary, the name thereof, the jurisdiction of its organization, the percentage of shares of each class of its capital
stock or similar Equity Interests outstanding owned by the Company and each other Subsidiary and whether such Subsidiary is a Guarantor. As of the date hereof, the Company neither directly nor indirectly holds any Equity Interests in any Person
other than as set forth on Schedule 5.4 or as would not be material to the interests of the holders of the Notes. 

  
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 (b) All of the outstanding shares of capital stock or similar Equity Interests of such
Obligor and each Subsidiary that is shown in Schedule 5.4 as being owned by the Company and its Subsidiaries have been validly issued and are owned by the Company or another Subsidiary as of the date of the Closing free and clear of any Lien other
than Permitted Liens, except as would not be material to the interests of the holders of the Notes. 
 (c) No Subsidiary of the Company is
subject to any legal, regulatory, contractual or other restriction (other than any restrictions included in the Tax Equity Documents, the Project Financing Documents or the agreements listed on Schedule 5.4 or customary limitations imposed by
corporate law or similar statutes) restricting the ability of such Subsidiary to pay dividends out of profits or make any other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock
or similar Equity Interests of such Subsidiary except, with respect to any Non-Obligor Subsidiary, as would not be reasonably be expected to be Material. 

(d) All of the outstanding shares of capital stock or similar Equity Interests of the Company have been validly issued and are owned by
Holdings free and clear of any Lien other than Permitted Liens. 
 Section 5.5 Compliance with Laws, Other Instruments, Etc. The
execution, delivery and performance by such Obligor of this Agreement and the other Note Documents to which it is a party and the transactions contemplated hereunder or thereunder will not (a) contravene, result in any breach of, or constitute
a default under, or result in the creation of any Lien (other than Liens created pursuant to the Security Documents) in respect of any property of such Obligor or any of its Subsidiaries under, any indenture, mortgage, deed of trust, loan, purchase
or credit agreement, lease, Project Document, Tax Equity Document or any other agreement or instrument to which such Obligor or any of its Subsidiaries is bound or by which such Obligor or any of its Subsidiaries or any of their respective
properties may be bound or affected, except to the extent such contravention, breach, default or Lien would not reasonably be expected to have a Material Adverse Effect, (b) conflict with or result in a breach of any of the terms, conditions or
provisions of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority applicable to such Obligor or any of its Subsidiaries, except to the extent such conflict or breach would not reasonably be expected to have a
Material Adverse Effect, (c) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to such Obligor or any of its Subsidiaries, except to the extent such violation would not reasonably be
expected to have a Material Adverse Effect, or (d) violate any provision of the Organizational Documents of such Obligor. 

Section 5.6 Approvals, Governmental Authorizations, Etc. No consent, approval or authorization of, or registration, filing or
declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such Obligor of this Agreement or the other Financing Documents, except for those that have already been obtained or filed and
filings and recordings with respect to the Collateral to be made or otherwise delivered to the First Lien Collateral Agent for filing and/or recordation or to the extent the failure to have obtained the same on or prior to the date of the Closing
would not reasonably be expected to have a Material Adverse Effect. All material Governmental Authorizations, which under Applicable Laws are 

  
 13 

 required to have been obtained by such Obligor or any Subsidiary thereof in connection with the current
state of construction of any Construction Project and the ownership and operation of the other Projects (all of the foregoing, the “Necessary Project Approvals”), have been obtained, are in full force and effect, are properly in the
name of the appropriate Person and are final, and all appeal periods with respect thereto have expired or terminated, except for any such Governmental Authorizations that are reasonably expected to be obtained in the ordinary course when required or
to the extent the failure to have obtained the same on or prior to the date of the Closing would not reasonably be expected to have a Material Adverse Effect. Such Obligor or its applicable Subsidiaries have performed or complied with all agreements
and conditions contained in each Necessary Project Approval and all agreements and conditions contained in any agreements or documents referred to therein in each case to the extent required to be performed or complied with by it on or before the
date of the Closing, and, subject to the foregoing, neither the Company nor any of its applicable Subsidiaries is in default in the performance of or compliance with any of the material terms or provisions of any Necessary Project Approval, except,
in each case, to the extent such noncompliance or default would not reasonably be expected to have a Material Adverse Effect. 

Section 5.7 Litigation; Observance of Agreements, Statutes and Orders. 

(a) There are no actions, suits, investigations or proceedings pending or, to the Knowledge of such Obligor, threatened in writing against or
affecting such Obligor, any Subsidiary of such Obligor or any property of such Obligor or any such Subsidiary (including the Projects) in any court or before any arbitrator of any kind or before or by any Governmental Authority, except as set forth
on Schedule 5.7 or as would not otherwise, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Neither such Obligor nor any Subsidiary thereof is (i) in default under any agreement or instrument to which it is a party or by
which it is bound, (ii) in violation of any applicable law, ordinance, rule or regulation of any Governmental Authority (including Environmental Laws, or any of the other laws and regulations that are referred to in Section 5.18), or
(iii) in violation of any order, judgment, decree or ruling of any court, any arbitrator of any kind or any Governmental Authority, in each case of clauses (i), (ii) and (iii), which default or violation would, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 5.8 Taxes. 

(a) To the Knowledge of such Obligor during the applicable Pre-Ownership Period and without regard to the Knowledge of such Obligor
thereafter, such Obligor and its Subsidiaries have, filed all income Tax Returns and other material Tax Returns that are required to have been filed by them in any jurisdiction, and have paid all Taxes shown to be due and payable on such Tax Returns
and all other Taxes and assessments levied or assessed on them or on or with respect to their properties, assets, income or franchises, to the extent such Taxes and assessments have become due and payable and before they have become delinquent,
except for any Tax Returns, Taxes and assessments (i) the non-filing or non-payment of which would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (ii) the amount, applicability or
validity of which is currently being contested in good faith by 

  
 14 

 
appropriate proceedings and with respect to which (x) the applicable Obligor or Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP, and (y) there
is no material risk of seizure of any material property or asset of the applicable Obligor or Subsidiary. The charges, accruals and reserves on the books of such Obligor and its Subsidiaries in respect of U.S. federal, state or other Taxes for all
fiscal periods are in all material respects adequate. Except as set forth on Schedule 5.8 or as would not be material to the interests of the holders of the Notes, no audits, claims, assessments, levies, or administrative or judicial proceedings, or
investigations presently are ongoing or pending against such Obligor or any of its Subsidiaries regarding material Taxes of such Obligor or any of its Subsidiaries or with respect to the assets of such Obligor or any of its Subsidiaries. 

(b) Except as set forth on Schedule 5.8 or as would not reasonably be expected to be material, to the Knowledge of such Obligor during the
applicable Pre-Ownership Period and without regard to the Knowledge of such Obligor thereafter, the Company and each Subsidiary of the Company is, and has at all times since its formation been, properly treated as an entity that is disregarded as
separate from its owner or as a partnership (that is not a “publicly traded partnership” as defined in Code Section 7704(b)) for U.S. federal tax purposes (and any similar or corresponding state or local tax purposes). Except as set
forth on Schedule 5.8 or as would not reasonably be expected to be material, to the Knowledge of such Obligor during the applicable Pre-Ownership Period and without regard to the Knowledge of such Obligor thereafter, none of the Company or any of
its Subsidiaries has taken, or to the extent within the control of the Company or any of its Subsidiaries, has permitted any Person to take, any action that would reasonably be expected to result in the Company or any of its Subsidiaries being
treated as a corporation, or an association taxable as a corporation, for U.S. federal tax purposes (or any similar or corresponding state or local tax purposes). Except as would not reasonably be expected to be material, neither such Obligor nor
any Subsidiary has made an election under Section 1101(g)(4) of the Bipartisan Budget Act, or any subsequent law or guidance (including pursuant to Treasury Regulations Section 301.9100-22T) to have the provisions of Section 1101 of
the Bipartisan Budget Act apply to any partnership income Tax Returns of such Obligor or any Subsidiary thereof filed for any taxable year thereof beginning before January 1, 2018. Neither such Obligor nor any Subsidiary thereof is party to any
tax sharing agreement with any Person or any other agreement pursuant to which it is liable for the material Taxes of another Person (including with any Affiliate of such Obligor or any Subsidiary thereof) other than in connection with the Tax
Equity Documents or customary provisions contained in any agreements entered into in the ordinary course of business and not primarily related to Taxes. Neither such Obligor nor any Subsidiary thereof has any outstanding liability for any payment of
amounts with respect to material Taxes of any other Person (other than another Obligor or Subsidiary thereof) as a result of being a member of an Affiliated, consolidated, combined or unitary group, or as a result of succeeding to such liability as
a result of merger, conversion or asset acquisition, which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) Neither such Obligor nor any of its Subsidiaries is a Tax-Exempt Person (other than as a result of the status or ownership of any Tax
Equity Investor). Except with respect to the Cash Grant Projects, no Person has applied for, claimed or received a grant under Section 1603 of Division B of the American Recovery and Reinvestment Act of 2009, as amended, with respect any
Project or any property that is part of a Project. All energy property comprising 

  
 15 

 
the Cash Grant Projects was “placed in service” for purposes of the Cash Grant Terms and Conditions more than five years prior to the date hereof. No Person has applied for, claimed or
received a production tax credit described in Section 45 of the Code or an investment tax credit described in Section 48 of the Code with respect to any Cash Grant Project. To the Knowledge of such Obligor during the applicable
Pre-Ownership Period and without regard to the Knowledge of such Obligor thereafter, (i) no material default, inaccuracy, breach, failure, determination, event, loss or other circumstance has occurred in connection with any representation,
warranty, certification, covenant, agreement or obligation by such Obligor or any of its Subsidiaries under any Tax Equity Document and (ii) no event, action, inaction or other circumstance has otherwise occurred which, in the case of either
(i) or (ii), could reasonably be expected to result in (x) any reduction in the amount of, or any preclusion of the availability of, any Tax credit or other Tax benefit (including any Cash Grant) otherwise available, or reasonably expected
to be available, with respect to any Project subject to a Tax Equity Document or (y) any recapture, disallowance, reduction, delay or loss of any Tax credit or other Tax benefit (including any Cash Grant) claimed with respect to any Project
subject to a Tax Equity Document and, in the case of either (x) or (y), which would individually or in the aggregate reasonably be expected to have a Material Adverse Effect. 

Section 5.9 Title to Property; Leases. Such Obligor and its Subsidiaries have good and valid title to, or leasehold interest in,
their respective real and personal properties (including the Collateral and all Projects), in each case free and clear of Liens, other than Permitted Liens, except, with respect to any Non-Obligor Subsidiary, as would not reasonably be expected to
have a Material Adverse Effect. 
 Section 5.10 Intellectual Property Licenses, Permits, Etc. 

(a) Such Obligor and its Subsidiaries own or possess all intellectual property licenses, permits, franchises, authorizations, patents,
copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, without known conflict with the rights of others, except for any such failure to own or possess or any conflict as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) To the Knowledge of such Obligor, no product or service of such
Obligor or any Subsidiary thereof infringes any intellectual property license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right owned by any other Person, except for any
such infringement as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (c) To the
Knowledge of such Obligor, there is no violation by any Person of any right of such Obligor or any Subsidiary thereof with respect to any intellectual property license, permit, franchise, authorization, patent, copyright, proprietary software,
service mark, trademark, trade name or other right owned or used by such Obligor or any Subsidiary thereof, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
 16 

 Section 5.11 Compliance with Employee Benefit Plans. 

(a) Such Obligor and each ERISA Affiliate have operated and administered each Plan in compliance with all Applicable Laws except for such
instances of noncompliance as have not resulted in and would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Neither such Obligor nor any ERISA Affiliate has incurred any liability pursuant to
Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that would, individually or in the
aggregate, reasonably be expected to result in the incurrence of any such liability by such Obligor or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of such Obligor or any ERISA Affiliate, in either
case pursuant to Title I or IV of ERISA or to section 430(k) of the Code or to any such penalty or excise tax provisions under the Code or federal law or section 4068 of ERISA or by the granting of a security interest in connection with the
amendment of a Plan, other than such liabilities or Liens as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

(b) The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as of the end
of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of such
Plan allocable to such benefit liabilities, except as would not reasonably be expected to have a Material Adverse Effect. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms
“current value” and “present value” have the meaning specified in section 3 of ERISA. 
 (c) Such Obligor
and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate would reasonably
be expected to have a Material Adverse Effect. 
 (d) The expected postretirement benefit obligation (determined as of the last day of the
Company’s most recently ended fiscal year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities attributable to continuation coverage mandated by section 4980B of
the Code) of such Obligor and its Subsidiaries is not Material. 
 (e) The execution and delivery of this Agreement and the issuance and
sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code. The representation by
the Company to each Initial Purchaser in the first sentence of this Section 5.11(e) is made in reliance upon and subject to the accuracy of such Initial Purchaser’s representation in Section 6.2 as to the sources of the funds to be
used to pay the purchase price of the Notes to be purchased by such Initial Purchaser. 
 (f) Such Obligor and its Subsidiaries do not have
any Non-U.S. Plans. 

  
 17 

 Section 5.12 Private Offering by the Obligors. Neither such Obligor nor anyone
acting on its behalf (other than the Placement Agents) has offered the Initial Notes or any similar Securities for sale to, or solicited any offer to buy the Initial Notes or any similar Securities from, or otherwise approached or negotiated in
respect thereof with, any Person other than the Initial Purchasers and not more than 36 other Persons that are both (a) an “accredited investor” within the meaning of Regulation D under the Securities Act and (b) a
“qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, each of which has been offered the Initial Notes at a private sale for investment. Neither such Obligor nor anyone acting on its behalf (other than
the Placement Agents) has (i) solicited offers for, or offered or sold, the Notes by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering
within the meaning of Section 4(a)(2) of the Securities Act or (ii) otherwise taken, or will take, any action that would subject the issuance or sale of the Initial Notes to the registration requirements of section 5 of the Securities Act
or to the registration requirements of any Securities or blue sky laws of any applicable jurisdiction. 
 Section 5.13 Use of
Proceeds; Margin Regulations. The Company will apply the proceeds of the sale of the Initial Notes hereunder as set forth in the funds flow memorandum delivered pursuant to Section 4.1(j) and in accordance with Section 9.11. No part of
the proceeds from the sale of the Initial Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR
221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation
T of said Board (12 CFR 220), assuming no holder is a “creditor” within the meaning of Regulation T. Margin stock does not constitute more than 25% of the value of the consolidated assets of the Company and its Subsidiaries and the Company
does not have any present intention that margin stock will constitute more than 25% of the value of such assets. As used in this Section 5.13, the terms “margin stock” and “purpose of buying or carrying” shall
have the meanings assigned to them in said Regulation U. 
 Section 5.14 Foreign Assets Control Regulations, Etc. 

(a) Neither Holdings nor any Controlled Entity (i) is a Blocked Person, (ii) has been notified that its name appears or may in the
future appear on a State Sanctions List or (iii) is a target of Economic Sanctions Laws. 
 (b) Within the past five years, neither
Holdings nor any Controlled Entity (including their respective officers, directors, employees and, to the knowledge of the foregoing, agents acting on their behalf) has violated in any material respect, been found in violation of or been charged or
convicted under any applicable Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws. 
 (c) No part of the proceeds
from the sale of the Notes hereunder: 
 (i) constitutes or will constitute funds obtained on behalf of any Blocked Person
or will otherwise be used by Holdings or any of its Controlled Entities, directly or knowingly indirectly (A) with any investment in, or 

  
 18 

 
any transactions or dealings with, any Blocked Person in violation of applicable Economic Sanctions Laws, (B) for any purpose that would cause any Purchaser to be in violation of any
Economic Sanctions Laws or (C) otherwise in violation of any Economic Sanctions Laws; 
 (ii) will be used, directly or
knowingly indirectly, by Holdings or any of its Controlled Entities in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Money Laundering Laws; or 

(iii) will be used, directly or knowingly indirectly, by Holdings or any of its Controlled Entities (including their
respective officers, directors, employees and agents acting on their behalf) for the purpose of making any improper payments, including bribes, to any Governmental Official or commercial counterparty in order to obtain, retain or direct business or
obtain any improper advantage, in each case which would be in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Corruption Laws. 

(d) The Company has established procedures and controls which it reasonably believes are adequate (and otherwise comply with Applicable Law)
to ensure that Holdings and each of its Controlled Entities is and will continue to be in compliance with all applicable Economic Sanctions Laws, Anti-Money Laundering Laws and Anti-Corruption Laws. 

Section 5.15 No Other Indebtedness. As of the date of the Closing, other than (x) Indebtedness in the nature of letters of
credit, bonds and other credit support held by Project Company counterparties and (y) as set forth on Schedule 5.15, the Indebtedness outstanding under the Financing Documents and any Indebtedness permitted pursuant to Section 10.6 are the
only outstanding Indebtedness of such Obligor and its Subsidiaries. 
 Section 5.16 Status under Certain Statutes. Such Obligor
is not required to register as an “investment company” pursuant to the Investment Company Act of 1940. 
 Section 5.17
Energy Regulatory. 
 (a) None of the Secured Parties shall, solely by reason of (i) the ownership, construction, operation and
maintenance of the Projects as contemplated by the Project Documents, (ii) the sale and purchase of the Notes in accordance with this Agreement or the issuance of any Letters of Credit, (iii) the securing of the Secured Obligations by
Liens on the Collateral (other than the exercise of remedies by any Secured Party) or (iv) any other transaction contemplated by this Agreement or any other Note Document, be deemed by any Governmental Authority to be, or to be subject to
regulation as, an “electric utility,” “electrical corporation,” “electrical company,” “public utility” or “public utility holding company” or similar entity under any Applicable Laws of the United
States, any state or any political subdivision of the United States or any state, including PUHCA and the FPA. 
 (b) The applicable
Project Company has made all necessary filings with FERC for each Project that meets the criteria of a QF under PURPA as set forth in 18 C.F.R. § 292.204. 

  
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 (c) If a Project is not exempt from PUHCA under 18 C.F.R. § 292.602, the applicable
Project Company has made all necessary filings with FERC to be an EWG under PUHCA. 
 (d) If not exempt from the FPA or FPA Sections 204,
205 and Section 206 under 18 C.F.R. § 292.601, except as noted in this Section 5.17(d), the applicable Project Company has made all necessary filings with FERC for such Project Company to have obtained MBR Authority under the FPA and
such Project Company retains such MBR Authority, which is not subject to any pending challenge or investigation at FERC, and FERC has not issued any orders imposing a rate cap, mitigation measure, or other limitation on a Project Company’s
authority to engage in sales pursuant to such MBR Authority, other than challenges, investigations, rate caps and mitigation measures generally applicable to wholesale sellers participating in the applicable electric market(s). Chevron Solar Star
Lost Hills has filed with FERC to obtain MBR Authority before the date of Closing. The Company is not aware of any fact or circumstance (x) that would prevent or unduly delay the Chevron Solar Star Lost Hills from obtaining MBR Authority,
(y) that would cause such MBR Authority to be subject to any challenge or investigation at FERC, or (z) that would cause such MBR Authority to be subject to any orders issued by FERC imposing a rate cap, mitigation measure, or other
limitation on Chevron Solar Star Lost Hill’s authority to engage in sales pursuant to such MBR Authority, other than, in each case, challenges, investigations, rate caps and mitigation measures generally applicable to wholesale sellers
participating in the applicable electric market(s). 
 (e) Such Obligor and its Subsidiaries are either (x) not subject to, or exempt
from, regulation under the provisions of 18 C.F.R. §§ 366.2, 366.21, 366.22 and 366.23, or (y) have obtained waiver from regulation under the provisions of 18 C.F.R. §§ 366.21, 366.22 and 366.23 (the “PUHCA Exemption
or Waiver”). 
 (f) Except as set forth on Schedule 5.17, neither such Obligor nor any of its Subsidiaries is subject to
regulation as a “public utility”, “electrical corporation”, “public service corporation” or “electric power supplier” or similar entity under relevant state laws or regulations (“State Electric Utility
Regulation”). 
 (g) Except as set forth on Schedule 5.17, neither such Obligor nor any of its Subsidiaries has Knowledge of
(i) any claim, action or assertion that has been filed, commenced, or threatened against any Project Company alleging any violation of the FPA, or (ii) any investigation with respect to any violation of the FPA that has been commenced
against any Project Company, except, in each case of clauses (i) and (ii), such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 5.18 Environmental Matters. 

(a) Neither such Obligor nor any of its Subsidiaries has Knowledge of any written claim, and no proceeding has been instituted asserting any
claim against such Obligor or any Subsidiary thereof or any of their respective real properties or other assets now or formerly owned, leased or operated by any of them, alleging any damage to the environment or violation of any Environmental Laws
by a Project, except, in each case, such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
 20 

 (b) Neither such Obligor nor any of its Subsidiaries has Knowledge of any facts which are
reasonably likely to give rise to a claim against the Obligor or any of its Subsidiaries alleging that said Obligor or Subsidiary has violated any Environmental Laws with respect to the construction, ownership or operation of a Project, except, in
each case, such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (c) Neither
the Company nor any Subsidiary has stored any Hazardous Materials on real properties now or formerly owned, leased or operated by any of them in a manner which is contrary to any Environmental Law that could, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect. 
 (d) Neither the Company nor any Subsidiary has disposed of any Hazardous
Materials in a manner which is contrary to any Environmental Law that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

Section 5.19 Labor Matters. Neither such Obligor nor any of its Subsidiaries has any employees as of the date of the Closing. 

Section 5.20 Solvency. The Obligors, immediately after giving effect to the incurrence of Indebtedness under the Initial Notes and
the transactions contemplated by the Financing Documents, on a consolidated basis are Solvent. 
 Section 5.21 Nature of
Business. Such Obligor has not engaged in any business or activity other than as permitted under Section 10.3. The Company has not engaged in any business activity other than the ownership of the Equity Interests of its Subsidiaries and
activities incidental thereto. 
 Section 5.22 Perfection and Priority of Lien. The provisions of the First Lien Security
Documents are effective to create, in favor of the First Lien Collateral Agent for the benefit of the First Lien Secured Parties, as security for the First Lien Obligations, a legal, valid and enforceable first priority Lien on and security interest
in all of the Collateral purported to be covered by the First Lien Security Documents, and all necessary recordings and filings have been made or will be made on the date of the Closing in all necessary public offices, and all other necessary and
appropriate action has been taken, so that each such First Lien Security Document creates, or upon the filing of such financing statements will create, a perfected first priority Lien on and perfected security interest in all right, title and
interest of such Obligor in the Collateral covered thereby, prior and superior to the rights of all third Persons and subject to no Liens other than Permitted Liens. 

Section 5.23 No Default or Event of Default. After giving effect to the purchase and sale of the Initial Notes and the
consummation of the other transactions, including the LC Facility, occurring on the date of the Closing, no Default or Event of Default has occurred and is continuing. 

Section 5.24 No Events of Loss. No uninsured Event of Loss or Condemnation has occurred in respect of any Project that,
individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

  
 21 

 Section 5.25 Insurance. Insurance complying in all material respects with the
provisions of the Financing Documents is in full force and effect. 
 Section 5.26 Ranking of Obligations. This Agreement, the
Notes and the other Note Documents, and the obligations of the Company and such Obligor evidenced hereby and thereby, are and, except in the case of the Subordinate Notes, will at all times be direct and unconditional general obligations of such
Obligor party thereto and will at all times rank in right of payment at least pari passu with all other senior secured Indebtedness of such Obligor, whether now existing or hereafter outstanding. 

Section 5.27 Tax Equity Documents. (a) No Subsidiary of such Obligor and, to such Obligor’s Knowledge, no other party
thereto, is in default in the performance or compliance with any of the terms or provisions of any Tax Equity Document, (b) no waiver is currently in effect with respect to any Tax Equity Document and (c) no breach or event has occurred
and is continuing which, with the notice or the lapse of time or both, would constitute a default by any Subsidiary of such Obligor or, to such Obligor’s Knowledge, any Tax Equity Investor, except, in each case of clauses (a), (b) and (c),
(i) as would not reasonably be expected to have a Material Adverse Effect or (ii) for any default, inaccuracy, breach, failure, determination, event, loss or other circumstance described in Section 5.8(c) (which default, inaccuracy,
breach, failure, determination, event, loss or other circumstance shall be governed exclusively by Section 5.8(c)). To such Obligor’s Knowledge, there is no outstanding material indemnity claim by any Tax Equity Investor under any Tax
Equity Document. All reserves required to be funded under the Tax Equity Documents as of the date of the Closing are funded in accordance with the terms thereof, except for any failure to fund such reserves as would not be Material. 

Section 5.28 No Material Adverse Effect. Since August 18, 2021, or, if later, the date of the last annual audited financial
statements delivered pursuant to Section 7.1(b), no event or circumstance has occurred that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

Section 5.29 Utilities. With respect to each Project (other than Construction Projects), all utility services, means of
transportation and facilities that are necessary for the operation of such Project are available, except to the extent such lack of availability would not reasonably be expected to have a Material Adverse Effect. 

 

	SECTION	 6. REPRESENTATIONS OF THE INITIAL PURCHASERS. 

Section 6.1 Purchase for Investment, Etc. 

(a) Each Initial Purchaser severally represents that it is purchasing the Initial Notes for its own account or for one or more separate
accounts maintained by such Initial Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of such Initial Purchaser’s or their property shall at
all times be within such Initial Purchaser’s or their control. Each Initial Purchaser understands that the Initial Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions of the
Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is 

  
 22 

 
required by law, and that the Company is not required to register the Initial Notes. Each Initial Purchaser further severally represents that such Initial Purchaser (i) will not sell,
transfer or otherwise dispose of the Initial Notes or any interest therein except in a transaction exempt from or not subject to the registration requirements of the Securities Act and (ii) was given the opportunity to ask questions and receive
answers concerning the terms and conditions of the offering and to obtain any additional information which the Company possesses or can acquire without unreasonable effort or expense. 

(b) Each Initial Purchaser severally represents that it is both (i) an “accredited investor” within the meaning of Regulation
D under the Securities Act and (ii) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act. 

(c) Each Initial Purchaser severally represents that the purchase of Initial Notes by such Initial Purchaser has not been solicited by or
through anyone other than the Company or the Placement Agents. 
 Section 6.2 Source of Funds. Each Initial Purchaser severally
represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Initial Purchaser to pay the purchase price of the Initial Notes to be purchased by
such Initial Purchaser hereunder: 
 (a) the Source is an “insurance company general account” (as the term is defined in the
United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for life insurance companies approved by the NAIC (the
“NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s) held by or on behalf of any
other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities of the general account
(exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Initial Purchaser’s state of domicile; or 

(b) the Source is a separate account that is maintained solely in connection with such Initial Purchaser’s fixed contractual obligations
under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any
manner by the investment performance of the separate account; or 
 (c) the Source is either (i) an insurance company pooled separate
account, within the meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Initial Purchaser to the Company in writing pursuant to this clause (c), no employee benefit
plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or 

  
 23 

 (d) the Source constitutes assets of an “investment fund” (within the meaning of
Part VI of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM Exemption), no employee benefit plan’s assets that are
managed by the QPAM in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such
employer or by the same employee organization and managed by such QPAM, represent more than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a
person controlling or controlled by the QPAM maintains an ownership interest in the Obligors that would cause the QPAM and the Company to be “related” within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity of such
QPAM and (ii) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning
of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to the Company in writing pursuant to this clause (d);or 

(e) the Source constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of PTE 96-23 (the “INHAM
Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither
the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Part IV(d)(3) of the INHAM Exemption) owns a 10% or more interest in the Company and (i) the identity of such INHAM and
(ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause (e); or 

(f) the Source is a governmental plan; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans,
each of which has been identified to the Company in writing pursuant to this clause (g); or 
 (h) the Source does not include assets of any
employee benefit plan, other than a plan exempt from the coverage of ERISA. 
 As used in this Section 6.2, the terms “employee benefit
plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to such terms in section 3 of ERISA. 

SECTION 7. INFORMATION AS TO COMPANY. 

Section 7.1 Financial and Business Information. The Company shall deliver to each holder of a Note that is an Institutional
Investor: 
 (a) Unaudited Statements — within 90 days after the end of each quarterly fiscal period (commencing with the third
fiscal quarter of 2021) in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year): 

  
 24 

 (i) an unaudited consolidated balance sheet of the Company and its
Subsidiaries as at the end of such quarter, and 
 (ii) unaudited consolidated statements of income and members’ equity
of the Company and its Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 

setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year (to the extent such
figures are available in respect of such corresponding periods), all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, subject to changes resulting from year-end adjustments; 

(b) Annual Audited Statements — within 120 days after the end of each fiscal year of the Company (commencing with the fiscal year
ending 2021): 
 (i) an audited consolidated balance sheet of the Company and its Subsidiaries as at the end of such year,
and 
 (ii) audited consolidated statements of income, members’ equity and cash flows of the Company and its
Subsidiaries for such year (or, in the case of 2021, the applicable portion thereof), 
 in each case, audited by an independent public
accountant of recognized national standing and setting forth in each case in comparative form the figures for the previous fiscal year (to the extent such figures are available in respect of such previous fiscal year), all in reasonable detail,
prepared in accordance with GAAP, and accompanied by a report thereon, which report shall state that such financial statements present fairly, in all material respects, the consolidated financial position of the companies being reported upon and
their results of operations and cash flows and have been prepared in conformity with GAAP, and that the examination of the accountants in connection with such financial statements has been made in accordance with generally accepted auditing
standards, and that such audit provides a reasonable basis for such opinion in the circumstances; 
 (c) Notices of Litigation or
Material Adverse Effect — promptly, and in any event within five Business Days after an Obligor obtains Knowledge of the existence of (i) any action, suit, investigation or proceeding pending or, to the Knowledge of any Obligor,
threatened (in writing), against or affecting such Obligor or any Subsidiary thereof, in each case, that is or would reasonably expected to have a Material Adverse Effect and (ii) any other event, act or condition which would reasonably be
expected to result in a Material Adverse Effect, in each case, a written notice specifying the nature and period of existence thereof and what action such Obligor or such Subsidiary is taking or proposes to take with respect thereto; 

(d) Notice of Default or Event of Default — promptly, and in any event within five Business Days after an Authorized Officer
becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed Default hereunder or that any Person has given any notice or taken any action with respect to a
claimed Default of the type referred to in Section 11(g), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; 

  
 25 

 (e) Employee Benefits Matters — promptly, and in any event within five Business
Days after an Authorized Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto: 

(i) with respect to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder, for
which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; 
 (ii) the taking by
the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA
Affiliate of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such Multiemployer Plan; 

(iii) any event, transaction or condition that would reasonably be expected to result in the incurrence of any liability by
the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of the Company
or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could reasonably be expected to have a Material
Adverse Effect; or 
 (iv) receipt of notice of the imposition of a Material financial penalty (which for this purpose shall
mean any tax, penalty or other liability, whether by way of indemnity or otherwise) with respect to one or more Non-U.S. Plans; 
 (f)
Notices from Governmental Authority — promptly, and in any event within 30 days of receipt thereof, copies of any notice to the Company or any Subsidiary from any Governmental Authority relating to any order, ruling, statute or other law
or regulation that could reasonably be expected to have a Material Adverse Effect; 
 (g) Resignation or Replacement of Auditors
— within 10 days following the date on which the Company’s auditors resign or the Company definitively elects to change auditors, as the case may be, notification thereof, together with such further information as the Required Holders may
request; 
 (h) Requested Information — with reasonable promptness, such other data and information relating to any Tax Equity
Partnership or such other data and information 

  
 26 

 
relating to the business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries or relating to the ability of the Company to perform its
obligations hereunder and under the other Note Documents, in each case, as from time to time may be reasonably requested by any such holder of a Note; 

(i) Operating Statements — concurrently with the delivery of the financial statements referred to in clauses (a) and
(b) above, a portfolio-level operating statement in substantially the form attached as Exhibit H, regarding the operation and performance of the Projects then in operation for the most recent applicable quarter covered thereby and for the
elapsed portion of the year ended with the last day of such quarter (the “Operating Statements”); 
 (j) Supplemental
NPAs — in the event any additional Series of Notes is issued under this Agreement (whether or not an Initial Purchaser hereunder is a purchaser thereof), promptly, and in any event within 10 Business Days after execution and delivery
thereof, a true and complete copy of the Supplemental NPA pursuant to which such Series of Notes was issued and each of the documents delivered pursuant to Section 4.2(e) in connection with such issuance; 

(k) Annual Operating Budget — (i) at least 30 days prior to the second Quarterly Payment Date in each calendar year, an
Annual Operating Budget and (ii) on or before the date that is 30 days prior to the first day of the month in which commercial operation of any Construction Project is anticipated to occur, an update of the most recent previously delivered
Annual Operating Budget with respect to such Construction Project; 
 (l) Debt Service Coverage Ratio Calculations —
(i) with respect to each calculation of a Debt Service Coverage Ratio under any Note Document (including, for the avoidance of doubt, any calculation of a Debt Service Coverage Ratio that is required under the applicable Note Document to be
calculated as though Debt Service were defined to include all Indebtedness of the Company for borrowed money that is unsecured or secured on a first priority basis or second priority basis), an Officer’s Certificate demonstrating such
calculation in reasonable detail and (ii) concurrently with the delivery of the financial statements referred to in clauses (a) and (b) of this Section 7.1, a calculation of the Debt Service Coverage Ratio for the previous Rolling
Period of the Company, together with an Officer’s Certificate demonstrating such calculation in reasonable detail; 
 (m) Quarterly
Construction Report – with respect to each Construction Project, a quarterly (commencing with the fourth fiscal quarter of 2021) construction report describing in reasonable detail the progress of the construction of such Construction
Project; provided that in the event of any cost overruns or delays at any time in any fiscal quarter that could reasonably be expected to have a Material Adverse Effect, the Company shall promptly make available the Independent Engineer to
respond to reasonable inquiries from the Required Holders; and 
 (n) Certain Restricted Payments – promptly, and in any event
within five Business Days after the making of any such Restricted Payment, a written notice of any Restricted Payment made pursuant to Section 10.7(d). 

  
 27 

 Section 7.2 Officer’s Certificate. Each set of financial statements
delivered to a holder of a Note pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of an Authorized Officer (a) certifying (i) that such financial statements fairly present in all material respects
the financial condition and results of operations of the Company and its Subsidiaries, on a consolidated basis, on the dates and for the periods indicated in accordance with GAAP, subject, in the case of unaudited financial statements, to the
absence of footnotes and normally recurring year-end adjustments; and (ii) that such Authorized Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, an inquiry, to such Authorized
Officer’s direct reports within the Manager who are reasonably believed to have the relevant information, regarding the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered
by the statements then being furnished to the date of the certificate and, to such Authorized Officer’s Knowledge on the basis of such review and inquiry, that such review and inquiry shall not have disclosed the existence during such period of
any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take
with respect thereto, and (b) attaching an updated Schedule 5.4 listing Subsidiaries of the Company (or including a statement that there have been no changes to the foregoing since the date of the Closing or the last certificate delivered
pursuant to this Section 7.2, as applicable). 
 Section 7.3 Investor Teleconference. If requested by the Required Holders
within 15 Business Days after delivery of the financial information pursuant to Section 7.1(a), the Company will hold and participate in a quarterly conference call for the holders to discuss the results of operations and other relevant topics.
The Company will hold such conference calls not later than 15 Business Days after receiving such a request from the Required Holders, at a time to be set by the Company during normal business hours. Within 15 Business Days after delivery of the
financial information pursuant to Section 7.1(b), the Company will hold and participate in an annual conference call for the holders to discuss the results of operations and other relevant topics, at a time to be set by the Company during
normal business hours. 
 Section 7.4 Electronic Delivery. Financial statements, opinions of independent certified public
accountants, other information and Officer’s Certificates that are required to be delivered pursuant to Section 7.1(a), Section 7.1(b) and Section 7.2 shall be deemed to have been delivered if the Company satisfies any of the
following requirements with respect thereto: 
 (a) such financial statements satisfying the requirements of Section 7.1(a) or
Section 7.1(b) and related Officer’s Certificate satisfying the requirements of Section 7.2 are delivered to each holder of a Note by e-mail at the e-mail address set forth in such holder’s Purchaser Schedule or as communicated
from time to time in a separate writing delivered to the Company; or 
 (b) such financial statements satisfying the requirements of
Section 7.1(a) or Section 7.1(b) and related Officer’s Certificate(s) satisfying the requirements of Section 7.2 are posted by or on behalf of the Company on IntraLinks, Box or on any other similar website to which each holder of
Notes has free access, or, if requested by any holder of a Note, delivered to such holder of a Note by e-mail at the e-mail address set forth in such holder’s Purchaser Schedule; 

  
 28 

 provided however, that in no case shall such access be conditioned upon any waiver or other agreement
or consent (other than confidentiality provisions consistent with Section 21); provided further, that in the case of clause (b) above, the Company shall have given each holder of a Note prior written notice, which may be by e-mail
or in accordance with Section 19, of such posting or filing in connection with each delivery. 
 Section 7.5 [Reserved].

 Section 7.6 Visitation. 

(a) If no Event of Default then exists, the Company shall permit the representatives of each holder of a Note that is an Institutional
Investor, at the expense of such holder and with the consent of the Company, which consent will not be unreasonably withheld, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s independent
public accountants; provided that such discussions shall be limited to once per calendar year in the aggregate for the holders of the Notes. The Company shall be permitted to participate in such discussions and any such discussions shall be
subject to any applicable requirements of the Company’s independent public accountants. 
 (b) If an Event of Default exists, the
Company shall permit the representatives of each holder of a Note that is an Institutional Investor, at the expense of the Company, to examine all of the Company’s and its Subsidiaries’ respective books of account, records, reports and
other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to
discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such times and as often as may be requested, and at such location as is mutually acceptable to the Company and such holder. 

SECTION 8. PAYMENT AND PREPAYMENT OF THE NOTES. 

Section 8.1 Required Payments; Maturity. 

(a) On December 31, 2021 and on each Quarterly Payment Date thereafter to and including the Maturity Date, the Company will pay the
principal amount (or such lesser principal amount as shall then be outstanding) of the Initial Notes in the amounts specified in the table below (as adjusted pursuant to Section 8.4): 

 

					
	 Quarterly Payment Date
	  	Amortization
(USD)	 
	 31-Dec-2021
	  	 	2,831,910.98	 
	 31-Mar-2022
	  	 	987,309.53	 
	 30-Jun-2022
	  	 	5,781,503.99	 
	 30-Sep-2022
	  	 	10,758,646.69	 

  
 29 

					
	 Quarterly Payment Date
	  	Amortization
(USD)	 
	 31-Dec-2022
	  	 	4,045,677.49	 
	 31-Mar-2023
	  	 	3,558,139.92	 
	 30-Jun-2023
	  	 	8,094,581.64	 
	 30-Sep-2023
	  	 	11,277,339.65	 
	 31-Dec-2023
	  	 	5,594,111.99	 
	 31-Mar-2024
	  	 	4,222,202.83	 
	 30-Jun-2024
	  	 	8,609,525.02	 
	 30-Sep-2024
	  	 	11,088,401.46	 
	 31-Dec-2024
	  	 	4,750,360.45	 
	 31-Mar-2025
	  	 	3,676,557.87	 
	 30-Jun-2025
	  	 	8,043,612.77	 
	 30-Sep-2025
	  	 	8,031,701.71	 
	 31-Dec-2025
	  	 	2,591,547.31	 
	 31-Mar-2026
	  	 	2,672,300.03	 
	 30-Jun-2026
	  	 	7,072,726.64	 
	 30-Sep-2026
	  	 	8,934,934.36	 
	 31-Dec-2026
	  	 	3,381,205.52	 
	 31-Mar-2027
	  	 	3,436,436.28	 
	 30-Jun-2027
	  	 	8,058,258.46	 
	 30-Sep-2027
	  	 	9,710,575.89	 
	 31-Dec-2027
	  	 	3,899,381.98	 
	 31-Mar-2028
	  	 	6,984,294.18	 
	 30-Jun-2028
	  	 	6,356,978.17	 
	 30-Sep-2028
	  	 	12,030,208.06	 
	 31-Dec-2028
	  	 	2,562,504.33	 
	 31-Mar-2029
	  	 	3,973,288.63	 
	 30-Jun-2029
	  	 	9,399,275.82	 
	 30-Sep-2029
	  	 	11,180,183.35	 
	 31-Dec-2029
	  	 	4,286,296.66	 
	 31-Mar-2030
	  	 	4,560,164.77	 
	 30-Jun-2030
	  	 	9,777,132.17	 
	 30-Sep-2030
	  	 	9,164,401.70	 
	 31-Dec-2030
	  	 	2,452,677.67	 
	 31-Mar-2031
	  	 	2,550,207.69	 
	 30-Jun-2031
	  	 	9,108,978.73	 
	 30-Sep-2031
	  	 	10,240,676.02	 
	 31-Dec-2031
	  	 	2,726,104.88	 

  
 30 

					
	 Quarterly Payment Date
	  	Amortization
(USD)	 
	 31-Mar-2032
	  	 	2,824,808.26	 
	 30-Jun-2032
	  	 	9,046,827.54	 
	 30-Sep-2032
	  	 	9,326,995.70	 
	 31-Dec-2032
	  	 	6,900,593.72	 
	 31-Mar-2033
	  	 	686,220.70	 
	 30-Jun-2033
	  	 	8,684,208.98	 
	 30-Sep-2033
	  	 	10,419,945.11	 
	 31-Dec-2033
	  	 	4,052,672.60	 
	 31-Mar-2034
	  	 	3,315,731.05	 
	 30-Jun-2034
	  	 	9,783,013.87	 
	 30-Sep-2034
	  	 	11,171,285.70	 
	 31-Dec-2034
	  	 	3,732,977.29	 
	 31-Mar-2035
	  	 	3,655,306.87	 
	 30-Jun-2035
	  	 	10,403,874.48	 
	 30-Sep-2035
	  	 	10,604,643.65	 
	 31-Dec-2035
	  	 	3,673,804.50	 
	 31-Mar-2036
	  	 	2,587,299.21	 
	 30-Jun-2036
	  	 	7,007,819.20	 
	 30-Sep-2036
	  	 	8,126,664.86	 
	 31-Dec-2036
	  	 	2,780,032.74	 
	 31-Mar-2037
	  	 	2,704,997.50	 
	 30-Jun-2037
	  	 	7,764,767.46	 
	 30-Sep-2037
	  	 	8,393,790.86	 
	 31-Dec-2037
	  	 	3,004,107.58	 
	 31-Mar-2038
	  	 	2,851,842.40	 
	 30-Jun-2038
	  	 	7,815,976.73	 
	 30-Sep-2038
	  	 	8,222,544.97	 
	 31-Dec-2038
	  	 	2,933,765.09	 
	 31-Mar-2039
	  	 	2,890,544.84	 
	 30-Jun-2039
	  	 	7,798,302.59	 
	 30-Sep-2039
	  	 	8,387,261.01	 
	 31-Dec-2039
	  	 	3,131,915.96	 
	 31-Mar-2040
	  	 	3,223,990.35	 
	 30-Jun-2040
	  	 	7,946,391.62	 
	 30-Sep-2040
	  	 	8,386,758.00	 
	 31-Dec-2040
	  	 	3,283,135.30	 
	 31-Mar-2041
	  	 	3,293,689.41	 

  
 31 

					
	 Quarterly Payment Date
	  	Amortization
(USD)	 
	 30-Jun-2041
	  	 	8,073,625.97	 
	 30-Sep-2041
	  	 	8,663,801.10	 
	 31-Dec-2041
	  	 	3,517,852.06	 
	 31-Mar-2042
	  	 	3,446,304.75	 
	 30-Jun-2042
	  	 	8,080,858.01	 
	 30-Sep-2042
	  	 	7,894,817.42	 
	 31-Dec-2042
	  	 	3,133,950.11	 
	 31-Mar-2043
	  	 	2,997,689.81	 
	 30-Jun-2043
	  	 	7,393,888.01	 
	 30-Sep-2043
	  	 	8,070,572.17	 
	 31-Dec-2043
	  	 	3,368,287.27	 
	 31-Mar-2044
	  	 	3,193,191.27	 
	 30-Jun-2044
	  	 	7,270,214.19	 
	 30-Sep-2044
	  	 	7,869,836.01	 
	 31-Dec-2044
	  	 	3,338,786.08	 
	 31-Mar-2045
	  	 	3,289,549.18	 
	 30-Jun-2045
	  	 	7,371,690.80	 
	 30-Sep-2045
	  	 	7,735,421.95	 
	 31-Dec-2045
	  	 	3,358,502.99	 
	 31-Mar-2046
	  	 	3,253,450.70	 
	 29-Jun-2046
	  	 	6,896,879.16	 

 (b) Interest on each Note shall be paid in accordance with the terms of the Notes. As provided therein, the
entire unpaid principal balance of each Initial Note and accrued interest thereon shall be due and payable on the Maturity Date. The Maturity Date for any other Series of Notes will be as set forth in the Supplemental NPA pursuant to which such
Notes are issued. 
 Section 8.2 Mandatory Offers to Prepay. 

(a) Required Sales; Terminated PPA Sales; Loss Proceeds. If (i) the Obligors collectively receive any Net Cash Proceeds from any
Required Sales or Terminated PPA Sales (other than, with respect to a Construction Project, prior to its commercial operation), and after giving pro forma effect to such Required Sale(s) or Terminated PPA Sale(s), the projected average Debt Service
Coverage Ratio through the Maturity Date would be less than 1.6:1.0 or the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date would be less than 1.3:1.0, in each case, on account of such Required Sale(s)
or Terminated PPA Sale(s) or (ii) the Obligors collectively receive any Net Cash Proceeds in excess of $20,000,000 during a fiscal year or in excess of $90,000,000 in the aggregate since the date of the Closing in

  
 32 

 
respect of one or more Events of Loss, Termination Events or Condemnations, then, within 15 Business Days after receipt of such Net Cash Proceeds described in clause (i) or excess Net Cash
Proceeds described in clause (ii), the Company shall make an offer to all holders of the Senior Notes and all holders of any other Permitted Senior Secured Indebtedness that has a substantially similar provision requiring repayment upon the receipt
of such Net Cash Proceeds to prepay the maximum aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness that can be prepaid out of such Net Cash Proceeds or excess Net Cash Proceeds, as applicable (or in
the case of clause (i), the minimum aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness required, after giving pro forma effect to such Required Sale(s) or Terminated PPA Sale(s) and prepayment, to
maintain a projected average Debt Service Coverage Ratio through the Maturity Date greater than or equal to 1.6:1.0 and a projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date greater than or equal to
1.3:1.0) at a price in cash equal to 100% of such minimum principal amount thereof plus accrued and unpaid interest, if any, to but not including the Applicable Prepayment Date; provided that such Net Cash Proceeds (or the applicable portion
of such Net Cash Proceeds) shall be excluded from the requirements of this Section 8.2(a) if (A) (x) in good faith the Company intends to reinvest (or commits to reinvest) all or any portion of such Net Cash Proceeds in assets useful
for its business (and the business of its Subsidiaries, including the Projects), as determined in the Company’s sole discretion, within 365 days following receipt of the applicable proceeds by the Company or any Subsidiary thereof (for the
avoidance of doubt, any mandatory offer to prepay the Senior Notes required pursuant to this Section 8.2(a) shall be made from the Net Cash Proceeds thereof), and the Company so reinvests such Net Cash Proceeds within such period or (y) if
the Company enters into a legally binding commitment to reinvest such Net Cash Proceeds within 365 days following receipt thereof, and the Company so reinvests such Net Cash Proceeds within 180 days following such 365 day period, in each case, in
accordance with the Depositary Agreement and (B) in the case of Net Cash Proceeds described in clause (i), the Rating Condition is satisfied at the time of such reinvestment to the extent that the Net Cash Proceeds to be reinvested exceed
$25,000,000 for any individual Required Sale or Terminated PPA Sale or $60,000,000 in the aggregate for all Required Sales or Terminated PPA Sales. If, following its commitment to reinvest all or any portion of such Net Cash Proceeds in assets
useful to its business, the Company is unable to do so, it will comply with this Section 8.2(a) in respect of any such uninvested proceeds within 15 Business Days after the end of the 365 day or 180 day period described in clause
(y) above, as applicable. No Make-Whole Amount or other premium shall be required to be paid in connection with any prepayment pursuant to this Section 8.2(a). 

(b) Asset Disposition Payments. If the Obligors collectively receive Net Cash Proceeds in excess of $35,000,000 in the aggregate from
one or more Permitted Asset Sales or any other Disposition of assets as expressly permitted under this Agreement (other than Required Sales, Terminated PPA Sales or sales or transfers described in clauses (ii), (v) or (vi) of
Section 10.2(a) and Dispositions described in clauses (ii) through (v), clause (ix) and clause (xi) through (xiii) of Section 10.2(b)), then, within 15 Business Days after receipt of such excess Net Cash Proceeds, the
Company shall make an offer to all holders of the Senior Notes and all holders of any other Permitted Senior Secured Indebtedness that has a substantially similar provision requiring repayment upon the receipt of such Net Cash Proceeds to prepay the
maximum aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness that may be prepaid out of such excess Net Cash Proceeds at a price in cash equal to 100% of such

  
 33 

 
minimum principal amount thereof plus accrued and unpaid interest, if any, to but not including the Applicable Prepayment Date; provided that such Net Cash Proceeds (or the applicable
portion of such Net Cash Proceeds) up to $150,000,000 in the aggregate shall be excluded from the requirements of this Section 8.2(b) if (i) (x) in good faith the Company intends to reinvest (or commits to reinvest) all or any portion
of such Net Cash Proceeds in assets useful for its business (and the business of its Subsidiaries, including the Projects), as determined in the Company’s sole discretion, within 365 days following receipt of the applicable proceeds by the
Company or any Subsidiary thereof (for the avoidance of doubt, any mandatory offer to prepay the Senior Notes required pursuant to this Section 8.2(b) shall be made from the Net Cash Proceeds thereof), and the Company so reinvests such Net Cash
Proceeds within such period or (y) if the Company enters into a legally binding commitment to reinvest such Net Cash Proceeds within 365 days following receipt thereof, and the Company so reinvests such Net Cash Proceeds within 180 days
following such 365 day period, in each case, in accordance with the Depositary Agreement and (ii) the Rating Condition is satisfied at the time of such reinvestment to the extent that the Net Cash Proceeds to be reinvested exceed $25,000,000
for any individual Disposition or $60,000,000 in the aggregate for all Dispositions. If, following its commitment to reinvest all or any portion of such Net Cash Proceeds in assets useful to its business, the Company is unable to do so, it will
comply with this Section 8.2(b) in respect of any such uninvested proceeds within 15 Business Days after the end of the 365 day or 180 day period described in clause (y) above, as applicable. No Make-Whole Amount or other premium shall be
required to be paid in connection with any prepayment pursuant to this Section 8.2(b); provided, however, that once the Company has prepaid a principal amount of the Senior Notes with Net Cash Proceeds pursuant to this
Section 8.2(b) in excess of $150,000,000 in the aggregate, any prepayment by the Company required pursuant to this Section 8.2(b) shall include the Make-Whole Amount determined for the Applicable Prepayment Date with respect to the
applicable principal amount. 
 (c) Distribution Reserve Account Amounts. The Company shall make an irrevocable offer to prepay the
Senior Notes and other Permitted Senior Secured Indebtedness in accordance with Sections 8.2(f) and 8.4 with the amounts, and on the dates, specified, and otherwise in accordance with Section 3.3(e) of the Depositary Agreement. No Make-Whole
Amount or other premium shall be required to be paid in connection with any prepayment pursuant to this Section 8.2(c). 
 (d)
Cancelled Projects. 
 (i) If any Construction Project becomes a Cancelled Project, then, within 15 Business Days
following such Construction Project becoming a Cancelled Project, the Company shall make an offer to all holders of the Senior Notes and all holders of any other Permitted Senior Secured Indebtedness that has a substantially similar provision
requiring repayment upon any Construction Project becoming a Cancelled Project to prepay the minimum aggregate principal amount of the Senior Notes and such other Permitted Senior Secured Indebtedness required, after giving pro forma effect to the
exclusion of such Cancelled Project and such prepayment, to maintain a projected average Debt Service Coverage Ratio through the Maturity Date greater than or equal to 1.6:1.0 and a projected minimum Debt Service Coverage Ratio for each Rolling
Period 

  
 34 

 
through the Maturity Date greater than or equal to 1.3:1.0 at a price in cash equal to 100% of such minimum principal amount thereof plus accrued and unpaid interest, if any, to but not including
the Applicable Prepayment Date; provided that the amount of any principal prepayment under this Section 8.2(d)(i) shall not exceed $103,013,000 for the High Desert Project, $60,250,000 for the Brown University Project and $4,795,000 for
the Chevron BESS Project. No Make-Whole Amount or other premium shall be required to be paid in connection with any prepayment pursuant to this Section 8.2(d)(i). For the avoidance of doubt, in no event shall be the Company be required to make
more than one prepayment offer pursuant to this Section 8.2(d)(i) with respect to each Construction Project. 
 (ii)
[Reserved]. 
 (e) Change of Control. Upon the occurrence of a Change of Control, the Company shall make to each of the holders of
the Senior Notes an offer to repay the entire principal amount of the Senior Notes at 101% of the outstanding principal amount thereof, together with accrued and unpaid interest thereon, but without any Make-Whole Amount or any other premium or
penalty, in the manner and to the extent specified in Section 8.2(f), and shall advise each such holder of the circumstances giving rise to such Change of Control. 

(f) Notice Requirements for Mandatory Offers to Prepay. In the event that the Company is required to make any offer to prepay the
Senior Notes pursuant to this Section 8.2, the Company will give each holder of Senior Notes and the Notes Agent written notice of such prepayment under this Section 8.2 not less than 10 days (or such shorter period as is required in order
to make such prepayment in accordance with the terms of the Depositary Agreement) and not more than 60 days prior to the date fixed for such prepayment unless the Company and the Required Holders agree to another time period pursuant to
Section 18. Each such notice shall specify (i) such date (the “Applicable Prepayment Date”) fixed for such prepayment (which shall be a Business Day), (ii) that the Company is irrevocably offering to make such
prepayment and fixing the date (the “Initial Section 8.2 Acceptance Deadline Date”) by which each holder must notify the Company in writing if such holder is accepting such prepayment of Senior Notes (which date shall be five
Business Days prior to the Applicable Prepayment Date (or such later date as is required in order to make such prepayment in accordance with the terms of the Depositary Agreement)), and (iii) the aggregate principal amount of the Senior Notes
subject to prepayment on such date (the “Applicable Aggregate Prepayment Amount”), the principal amount of each Senior Note held by such holder subject to prepayment (determined in accordance with Section 8.4 and subject, in
the case of a prepayment made pursuant to this Section 8.2 (and, if applicable, the additional offer for prepayment pursuant to this Section 8.2(f)), to redetermination in accordance with this Section 8.2(f)), and the interest,
premium or Make-Whole Amount, if applicable, to be paid on the prepayment date with respect to such principal amount being prepaid (all in accordance with the terms of the Depositary Agreement), and shall be accompanied by a certificate of an
Authorized Officer, setting forth the details of such computation. If any holder declines, or fails to accept in writing, the initial offer of prepayment to be made pursuant to Sections 8.2(a), (b), (c), (d) or (e) as of the Initial
Section 8.2 Acceptance Deadline Date, such holder shall be deemed to have waived its right to have its Senior Notes prepaid on the Applicable Prepayment Date under Section 8.2 and the Company shall make an 

  
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additional irrevocable offer to prepay the Senior Notes to each holder of Senior Notes that accepted such initial offer to prepay, in an aggregate amount equal to the aggregate principal amount
of the Senior Notes initially offered to be prepaid pursuant to Sections 8.2(a), (b), (c), (d) or (e) but declined or not accepted as of the Initial Section 8.2 Acceptance Deadline Date, following which such additional offer each
holder that is a recipient thereof must notify the Company in writing on or prior to the date (the “Additional Section 8.2 Acceptance Deadline Date”) that is three Business Days prior to the Applicable Prepayment Date (or such
later date as is required in order to make such prepayment in accordance with the terms of the Depositary Agreement) if such holder is accepting the additional prepayment of Senior Notes. If any holder declines, or fails to accept in writing, the
additional offer of prepayment made pursuant to the immediately prior sentence as of the Additional Section 8.2 Acceptance Deadline Date, such holder shall be deemed to have waived its right to have its Senior Notes prepaid in the amount set
forth in such additional offer on the Applicable Prepayment Date, without prejudice to any amounts to which such holder may be entitled as a result of its acceptance of the Company’s initial offer to prepay pursuant to this Section 8.2. In
the event a holder of a Senior Note notifies the Company in writing no later than the applicable Initial Section 8.2 Acceptance Deadline Date that such holder is accepting the Company’s initial offer to prepay its Senior Notes in
accordance with this Section 8.2, the Company shall prepay the applicable amount of such holder’s Senior Notes determined in accordance with Section 8.4(a). In the event a holder of a Senior Note notifies the Company in writing no
later than the applicable Additional Section 8.2 Acceptance Deadline Date that such holder is accepting the Company’s additional offer to prepay its Senior Notes in accordance with this Section 8.2(f), the Company shall, in addition
to the amount contemplated by the immediately preceding sentence, prepay the applicable amount of such holder’s Senior Notes determined in accordance with Section 8.4(b). In the event that the aggregate amount of the actual prepayment of
Senior Notes under Section 8.2 plus the actual prepayment of Senior Notes pursuant to the additional irrevocable offer of prepayment pursuant to this Section 8.2(f) is less than the Applicable Aggregate Prepayment Amount, the amount by
which the Applicable Aggregate Prepayment Amount exceeds such aggregate amount of such actual prepayment shall be applied first to repay Indebtedness as required pursuant to the LC Facility Credit Agreement, including the payment of any
reimbursement obligations under any letter of credit loans then outstanding under the LC Facility, and any applicable Additional Permitted Senior Secured Indebtedness Documents (as defined in the Intercreditor Agreement) and then transferred to the
Distribution Reserve Account in accordance with the Depositary Agreement (or, to the extent already on deposit in and credited to the Distribution Reserve Account, shall remain in the Distribution Reserve Account). 

(g) Excess Net Cash Proceeds After Prepayment. To the extent that the aggregate amount of Senior Notes tendered pursuant to an offer
to prepay the Senior Notes pursuant to this Section 8.2 is less than the amount of such Net Cash Proceeds that is received, the Company may, after application of any such Net Cash Proceeds to repay Indebtedness as required pursuant to the LC
Facility Credit Agreement and any applicable Additional Permitted Senior Secured Indebtedness Documents (as defined in the Intercreditor Agreement), use any remaining Net Cash Proceeds for general corporate purposes, subject to other covenants
contained in this Agreement. 

  
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 (h) Notwithstanding anything in this Section 8.2 to the contrary, in the event that
the terms of any other Permitted Senior Secured Indebtedness require the prepayment (or cash collateralization) thereof in the circumstances requiring an offer to prepay the Senior Notes pursuant to this Section 8.2, the amount of such other
Permitted Senior Secured Indebtedness required to be prepaid or cash collateralized shall be deemed to be tendered in full pursuant to such offer to prepay, and the amount or proceeds required to be applied to prepayment pursuant to this
Section 8.2 shall be applied ratably to the prepayment (or cash collateralization) of such other Permitted Senior Secured Indebtedness and to the Senior Notes tendered pursuant to such offer to prepay, together with accrued interest thereon, as
applicable. 
 (i) Notwithstanding anything in this Agreement to the contrary, in the event that one or more holders declines, or fails to
accept in writing, the initial offer of prepayment to be made pursuant to Section 8.2(e) as of the Initial Section 8.2 Acceptance Deadline Date, the Company shall promptly deliver to each such holder all documentation and other information
with respect to the transferee (as a result of the applicable Change of Control) as has been requested in writing by any such holder required to allow each such holder to comply with Applicable Law and related internal procedures relating to
“know your customer” and customary anti-money laundering rules and regulations, including the USA PATRIOT Act. 
 Section 8.3 Optional
Prepayments with Make-Whole Amount. 
 (a) The Company may, at its option, upon notice as provided below and, if applicable, in
accordance with Section 1.3(f)(iii) with respect to Subordinate Notes, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than $500,000 and integral multiples of $0.01 in excess of such amount (the
“Authorized Denominations”) or, in each case, the lesser amount as is then outstanding, at 100% of the principal amount so prepaid, and the Make-Whole Amount determined for the prepayment date with respect to such principal amount
(unless such prepayment is made within 90 days of the Maturity Date of the respective Series of Notes to be prepaid, in which case no Make-Whole Amount will be payable). 

(b) The Company will give each holder of Notes and the Notes Agent written notice of each optional prepayment under this Section 8.3 not
less than 10 days and not more than 60 days prior to the date fixed for such prepayment unless the Company and the Required Holders agree to another time period pursuant to Section 18. Each such notice shall specify such date (which shall be a
Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.4), and the interest to be paid on the
prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of an Authorized Officer as to the estimated Make-Whole Amount, if any, due in connection with such prepayment (calculated as if the date
of such notice were the date of the prepayment), setting forth the details of such computation; provided that, notwithstanding anything herein to the contrary, any such notice delivered pursuant to this Section 8.3 may state that such
notice is conditioned upon the effectiveness of or receipt of proceeds of other Indebtedness, in which case such notice may be revoked by the Company (by notice to the holders of Notes on or prior to the date that is two Business Days in advance of
the date fixed for such prepayment) if such condition is not expected to be satisfied. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a certificate of an Authorized Officer specifying the calculation of
such Make-Whole Amount, if any, as of the specified prepayment date. 

  
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 Section 8.4 Allocation of Repayments and Partial Prepayments. In the case of
each repayment of the Notes pursuant to Section 8.1, and each partial prepayment of the Notes pursuant to Section 8.2 or Section 8.3, the principal amount of the Notes to be prepaid shall be allocated (a) in the case of any
prepayment made pursuant to Sections 8.2(a), (b), (c), (d) or (e) in connection with the Company’s initial offer of prepayment contemplated therein and in Section 8.2(f), among all of the Senior Notes at the time outstanding that
are held by holders who have agreed to accept such prepayment in accordance with Section 8.2 in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment, (b) in the case
of any prepayment made pursuant to Section 8.2(f) in connection with the Company’s additional offer of prepayment contemplated therein, among all of the Senior Notes at the time outstanding that are held by holders who have agreed to
accept such offer of prepayment in accordance with Section 8.2(f) in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment (after accounting for any amounts determined
pursuant to the foregoing clause (a)), and (c) in all other cases, among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment.
All prepayments of the Senior Notes made pursuant to Section 8.2 and all optional prepayments of the Notes made pursuant to Section 8.3 shall be applied pro rata to any remaining principal payments on the Notes, and in the case of the
Initial Notes, the amortization schedule set forth in such Section 8.1 shall be adjusted accordingly. 
 Section 8.5 Maturity;
Surrender, Etc. In the case of each prepayment of Notes pursuant to this Section 8, the principal amount (at a price equal to 101% of the principal amount prepaid in the case of a prepayment made in accordance with Section 8.2(e), but
otherwise without any penalty or premium) of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable Make-Whole
Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount (at a price equal to 101% of the principal amount prepaid in the case of a prepayment made in accordance with Section 8.2(e), but otherwise
without any penalty or premium) when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the
Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

Section 8.6 Purchase of Notes. At any time and from time to time, any Obligor or any Affiliate thereof may purchase Senior Notes
pursuant to a call for tenders given to all holders of the Senior Notes by notice given in accordance with Section 19, which notice shall specify the purchase date (which shall not be earlier than 15 days after the giving of such notice), the
purchase price and the place of payment thereof. Any such call for tenders shall provide that the terms and conditions for such purchase shall be the same for all Senior Notes except to the extent that the respective purchase prices differ for
different Series of Senior Notes as a result of differences in interest rates or payment or maturity dates. If an aggregate principal amount of the Senior Notes is tendered which is greater than that offered to be purchased, such tendered Senior
Notes shall be purchased on a pro rata basis in the proportion, as nearly as practicable, which the principal amount of Senior Notes tendered by each holder bears to the principal amount of Senior Notes tendered by all holders of Senior Notes. None
of the Obligors will, nor permit any Affiliate (or, solely if purchased, redeemed or acquired on the date of the Closing or the date of any issuance of Senior 

  
 38 

 
Notes or Subordinate Notes thereafter, any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any of its
Subsidiaries) to, purchase, redeem or otherwise acquire any of the outstanding Senior Notes except as provided for herein or purchase, redeem or otherwise acquire any outstanding Subordinate Notes (except for any redemptions permitted pursuant to
Section 1.3(f)). The Company will promptly cancel all Senior Notes acquired by any Obligor or any Affiliate (or, solely if acquired on the date of the Closing or the date of any issuance of Senior Notes or Subordinate Notes thereafter, any
Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any of its Subsidiaries) thereof and no Senior Notes may be issued in substitution or exchange for any such
Senior Note. 
 Section 8.7 Make-Whole Amount. 

The term “Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value
of the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the
Make-Whole Amount, the following terms have the following meanings: 
 “Called Principal” means, with respect to any Note,
the principal of such Note that is to be prepaid pursuant to Section 8.3 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining
Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the
same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (a) 0.50% plus (b) the yield to
maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or
such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average
Life of such Called Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (i) converting
U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask Yields” Reported for the applicable most recently issued actively traded
on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of
decimal places as appears in the interest rate of the applicable Note. 

  
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 If such yields are not Reported or the yields Reported as of such time are not ascertainable
(including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (x) 0.50% plus (y) the yield to maturity implied by the U.S. Treasury constant maturity
yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable
successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such
Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and
(2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable
Note. 
 “Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing
(a) such Called Principal into (b) the sum of the products obtained by multiplying (i) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (ii) the number of years, computed on the
basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Note, all payments of such Called Principal
and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a date on
which interest payments are due to be made under the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date
pursuant to Section 8.3 or Section 12.1. 
 “Settlement Date” means, with respect to the Called Principal of any
Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.3 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

Section 8.8 Payments Due on Non-Business Days. Anything in this Agreement or the Notes to the contrary notwithstanding,
(x) except as set forth in clause (y), any regular quarterly payment of principal and interest on any Note that is due on a date that is not a Business Day shall be made on the next succeeding Business Day without including the additional days
elapsed in the computation of the interest payable on such next succeeding Business Day; and (y) any payment of principal due on the Maturity Date or Make-Whole Amount on any Note that is due on a date that is not a Business Day shall be made
on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day. 

  
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 Section 8.9 Withholding. Any and all payments by or on account of any obligation
of any Obligor hereunder or under any other Financing Document, including payments of interest on, principal of, Make-Whole Amount on or other amount with respect to any Note, shall be made without any deduction or withholding for any Taxes or fees
of any kind whatsoever, unless the obligation to deduct or withhold is required by Applicable Law. If any such deduction or withholding is required by Applicable Law, payments by or on account of any obligation of any Obligor hereunder or under any
other Financing Document shall be made net of such deduction or withholding (including, for the avoidance of doubt, any deduction or withholding under FATCA) and such deducted or withheld amounts shall be timely remitted to the appropriate Tax
authority. 
 Section 8.10 Calculations . Neither the First Lien Collateral Agent nor the Notes Agent is responsible for any
calculations in this Article VIII or in any section of this agreement, and each shall rely on the Company for any and all such calculations where applicable. 

SECTION 9. AFFIRMATIVE COVENANTS. 
 Each
Obligor covenants that, as to such Obligor, so long as any of the Notes are outstanding: 
 Section 9.1 Compliance with Laws.

 (a) Without limiting Section 10.4, or any other provision hereof or of any other Note Document, each Obligor will, and will cause
each of its Subsidiaries to, comply with all Applicable Laws and applicable Governmental Authorizations to which each of them is subject (including ERISA, Environmental Laws, and the other laws and regulations that are referred to in
Section 5.13, the FPA, PUHCA, PURPA and the other laws and regulations that are referred to in Section 5.17), in each case to the extent necessary to ensure that non-compliance with such Applicable Laws would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) Notwithstanding the foregoing clause (a) of this
Section 9.1, each Obligor will, and will cause each of its Subsidiaries to, comply in all material respects with the USA PATRIOT Act and all applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Economic Sanctions Laws. 

Section 9.2 Insurance. Each Obligor will, and will cause each of its Subsidiaries to, without cost to the First Lien Collateral
Agent or any other Secured Party, maintain or cause to be maintained, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on
such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of and commercially available to entities of established reputations
engaged in the same or a similar business and similarly situated; provided that insurance as is required to be maintained by the Tax Equity Documents as of the date of the Closing shall be deemed customary for purposes of this
Section 9.2. 

  
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 Section 9.3 Maintenance of Properties. Each Obligor will, and will cause each of
its Subsidiaries to, operate, maintain and keep, or cause to be operated, maintained and kept, their respective properties (including the Projects and the assets of the Projects) (a) in good repair, working order and condition (other than
ordinary wear and tear) and (b) in a manner in accordance in all material respects with the applicable Project Documents and Prudent Industry Practice, so that the business carried on in connection therewith may be properly conducted at all
times, in each case except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 9.4 Payment of Taxes and Claims. 

(a) Each Obligor will, and will cause each of its Subsidiaries to pay and discharge all Taxes before such Taxes become delinquent, except
those for which (i) the amount, applicability or validity thereof is contested by such Obligor or such Subsidiary on a timely basis in good faith and in appropriate proceedings and for which such Obligor or such Subsidiary, as the case may be,
has established adequate reserves therefor in accordance with GAAP on the books of such Obligor or such Subsidiary or (ii) the nonpayment of all such Taxes would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Each Obligor will, and will cause each of its Subsidiaries to, file all Tax Returns required to be filed in any jurisdiction, except where the failure to file such Tax Returns would not reasonably be expected to result in a Material
Adverse Effect. 
 (b) In the event the Company or any of its Subsidiaries receives a notice of final partnership administrative adjustment
under section 6231(a)(3) of the Code that would, with the passing of time, result in an “imputed underpayment” imposed on such Person, as that term is defined in section 6225 of the Code, the Company shall or shall cause the applicable
Subsidiary (to the extent within the control of the Company) to, at least five days before the date required by law, (x) timely elect pursuant to section 6226 of the Code to make inapplicable to such Person the requirements in section 6225 of
the Code to pay the “imputed underpayment” as that term is used in that section, (y) comply with all of the requirements and procedures required in connection with such election, and (z) provide evidence of such election to each
Purchaser. 
 Section 9.5 Corporate Existence, Etc. Subject to Section 10.2, (a) each Obligor will at all times
preserve and keep its corporate (or other organizational) existence in full force and effect and (b) each Obligor will cause each of its Subsidiaries to at all times preserve and keep its corporate (or other organizational) existence in full
force and effect, in each case except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Each Obligor will, and will cause each of its Subsidiaries to, at all times preserve and keep in full force and
effect all rights and franchises of such Obligor and its Subsidiaries unless, in the good faith judgment of the Company, the failure to preserve and keep in full force and effect such right or franchise would not, individually or in the aggregate,
have a Material Adverse Effect. 
 Section 9.6 Books and Records. Each Obligor will, and will cause each of its Subsidiaries to,
maintain proper books of record and account in all material respects in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over such Obligor or such Subsidiary, except, with
respect to any Non-

  
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Obligor Subsidiary, as would not be Material. Each Obligor will, and will cause each of its Subsidiaries to, keep books, records and accounts which, in reasonable detail, accurately reflect all
transactions and dispositions of assets (including project, financial and accounting records in connection with any Cash Grant Projects), except, with respect to any Non-Obligor Subsidiary, as would not be Material. 

Section 9.7 Necessary Project Approvals. Each Obligor will, and will cause each of its Subsidiaries to, maintain in full force and
effect and, in the name of the applicable Subsidiary, all Necessary Project Approvals, except where such failure would not reasonably be expected to have a Material Adverse Effect. 

Section 9.8 Performance of Obligations. Each Obligor will, and will cause each of its Subsidiaries to, perform all of its material
obligations, and pursue all its material rights and remedies, under each Project Document and Tax Equity Document to which it is a party, except for such nonperformance or non-pursuit as would not, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect. 
 Section 9.9 Payment of Notes. The Company will pay or cause to be paid the
principal of, premium, if any, and interest on, the Notes on the dates and in the manner provided in the Notes. 
 Section 9.10
Maintenance of Title. Each Obligor will, and will cause each of its Subsidiaries to, preserve and maintain good and valid title to, or leasehold interest in, as applicable, all of its real and personal properties and assets (including the
Projects), in each case, free and clear of any Liens other than Permitted Liens, except to the extent such failure would not reasonably be expected to have a Material Adverse Effect. 

Section 9.11 Use of Proceeds. The Company will, and will cause each of its Subsidiaries to, use the proceeds of the Notes to fund,
in whole or in part, renewable energy and/or battery storage projects and as set forth in the funds flow memorandum delivered pursuant to Section 4.1(j), including financings or refinancings of, or investments in, equipment and systems which
generate or facilitate the generation or storage of energy from renewable sources, such as solar energy, and the owners thereof. Specifically, the Company will, and will cause each of its Subsidiaries to, use the proceeds of the Notes (a) to
fund ongoing working capital requirements with respect to the Projects, (b) pay project costs during the construction period of each Construction Project, (c) to make a special distribution to the Parent on the date of the Closing in the
amount set forth in the funds flow memorandum delivered pursuant to Section 4.1(j) (including the amounts set forth in such funds flow memorandum to repay Indebtedness of Parent and certain of its Affiliates), (d) to pay transaction fees
and expenses associated with the issuance of the Notes and the closing of the LC Facility and (e) for general corporate purposes. 

Section 9.12 Credit Ratings. The Company shall use commercially reasonable efforts to (a) cause a Rating Agency to provide
(and continue to provide) a Credit Rating on the Initial Notes and (b) deliver, once annually, and in each case promptly upon receipt by the Company, to the then-registered holders a ratings letter (or similar evidence) from the Applicable
Rating Agency indicating the then-current Credit Rating on the Senior Notes. The Company agrees to request that the Applicable Rating Agency include the Private Placement Number (if any) for each Series of

  
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Notes in any rating letter it may provide in accordance with this Section 9.12 and provide a statement that such letter may be shared with the holders’ regulatory and self-regulatory
bodies (including the Securities Valuation Office of the NAIC) and auditors of any holder of the Initial Notes without need for a non-disclosure agreement with a Rating Agency; provided, however, the parties hereto acknowledge and
agree that failure by the Applicable Rating Agency to include the Private Placement Number (if any) or such statement for each Series of Notes in such rating letter shall not result in any breach, default or non-compliance by the Company hereunder.

 Section 9.13 Further Assurances. Each Obligor will, and will cause each of its Subsidiaries to, take all such further actions
and execute all such further documents and instruments as the Required Holders (or the First Lien Collateral Agent acting at the direction of the Required Holders) may at any time reasonably determine to be necessary to further carry out and
consummate the transactions contemplated by the Financing Documents. 
 Section 9.14 Separateness. Each Obligor will, and will
cause each of its Subsidiaries to: 
 (a) maintain accounts of such Obligor or such Subsidiary, as applicable, separate from those of the
Parent and each of their respective Affiliates (that are not Obligors or subsidiaries thereof) with commercial banking institutions and will not commingle their funds with those of the Parent or any of its Affiliates (that are not Obligors or
subsidiaries thereof); 
 (b) obtain proper authorization from member(s), director(s) and manager(s) as required by such Obligor’s or
such Subsidiary’s, as applicable, limited liability company agreement (or comparable organizational documents) for all of its limited liability company (or other applicable) actions; and 

(c) comply with the terms of such Obligor’s or such Subsidiary’s, as applicable, limited liability company agreement (or comparable
organizational documents), 
 it being understood and agreed by the parties hereto that immaterial breaches of this Section 9.14 that (i) are not,
in the aggregate, misleading as to the identity of any Obligor or any such Subsidiary and (ii) otherwise do not materially undermine the purpose intended to be served by the provisions of this Section 9.14 shall not, in each of clauses
(a) through (c) above, be deemed a breach of this Section 9.14. 
 Section 9.15 Preservation of Collateral. Each
Obligor will, and will cause each of its Subsidiaries to, take all action reasonably required to preserve the validity, perfection and priority of the Liens purported to be granted to the First Lien Collateral Agent for the benefit of the Secured
Parties pursuant to the Security Documents (subject to Permitted Liens). 
 Section 9.16 Subsidiary Distributions. The Company
will cause each other Obligor and each of its other Subsidiaries to distribute all cash that such Obligor or such Subsidiary, as applicable, is permitted by Applicable Law and the terms of applicable Organizational Documents, Project Documents,
Project Financing Documents, and the Tax Equity Documents to distribute to the Company, directly or indirectly, provided that, each Project Company (and each other Subsidiary of an Obligor) shall be permitted to retain cash in an amount, in
the Company’s 

  
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reasonable discretion, necessary or advisable for working capital purposes or the prudent operation and maintenance of the applicable Projects. The Company will deposit all cash received from any
source (including distributions or payments from Subsidiaries or otherwise) into the applicable Depositary Account for application solely for the purposes and in the order and manner provided in the Depositary Agreement. 

Section 9.17 Priority of Obligations. Each Obligor will cause this Agreement, the Notes (other than Subordinate Notes) and the
other Note Documents, and the obligations of such Obligor evidenced hereby and thereby, to at all times rank at least pari passu, without preference or priority, with all other senior secured Indebtedness of such Obligor, whether now existing
or hereafter outstanding. 
 Section 9.18 Reserved. 

Section 9.19 Energy Regulatory Compliance. The Company will take, and will cause each Subsidiary promptly to take, any and all
actions necessary so that the Projects and Project Companies, as applicable, obtain and/or maintain the applicable Federal Energy Regulatory Authorizations, Exemptions, and Waivers, and, as applicable, maintain exemption from or compliance with any
State Electric Utility Regulations, except, in each case, to the extent failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 9.20 Tax Equity Guarantees. Each of the Obligors (a) will, or will cause the Tax Equity Guarantors to, maintain in
full force and effect the Tax Equity Guarantees and (b) will make, or cause the Tax Equity Guarantors to make, payments due (and not subject to a good faith dispute), in each case, under and in accordance with the Tax Equity Guarantees, and
except, in each case, to the extent that failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 10. NEGATIVE COVENANTS. 
 Each
Obligor covenants that, as to such Obligor, so long as any of the Notes are outstanding: 
 Section 10.1 Transactions with
Affiliates. Each Obligor will not and will not permit any of its Subsidiaries to enter into directly or indirectly any transaction or group of related transactions (including the purchase, lease, sale or exchange of properties of any kind or the
rendering of any service) with any Affiliate, unless any such transaction or group of related transactions (a) is described on Schedule 10.1; (b) contains terms no less favorable to such Obligor or such Subsidiary than those which would be
included in a comparable arm’s length transaction entered into by a prudent Person with a Person that is not an Affiliate, as determined in the reasonable judgment and good faith discretion of the Company; (c) is between or among the
Company and/or any of its Subsidiaries, (d) is permitted by or described in Section 10.7 or Sections 10.8(e) or (j), (e) is an equity contribution pursuant to or in accordance with the applicable Obligor’s or its
Subsidiary’s Organizational Documents, (f) is entered into in connection with a Permitted Tax Equity Transaction, (g) is a Permitted Project Undertaking or a Permitted Equity Commitment or (h) is otherwise expressly permitted
under the Note Documents to be effected with 

  
 45 

 
an Affiliate (provided that to the extent that such transaction is with an Affiliate that is not a Subsidiary of the Company, such transaction shall contain terms no less favorable to such
Obligor or such Subsidiary than those which would be included in a comparable arm’s length transaction entered into by a prudent Person with a Person that is not an Affiliate, as determined in the reasonable judgment and good faith discretion
of the Company). Notwithstanding anything to the contrary herein, each Obligor and its Subsidiaries will be permitted to (x) enter into non-speculative hedging (including effective sale) obligations (including with respect to capacity, energy,
Tax and environmental attributes, ancillary services and other products and services sold in accordance with the Project Documents or in the ordinary course of business) with Affiliates, and in connection therewith to transfer their capacity,
energy, Tax or environmental attributes, ancillary services or other such products and services or contracts relating thereto to such Affiliates in order to satisfy commitments by such Affiliates or facilitate the monetization thereof, in each case
on arm’s length terms (including terms that are passed through from the applicable agreement between the applicable Affiliate and a third party, with appropriate charges) and (y) perform their obligations to the Manager under the
Management Services Agreement. 
 Section 10.2 Merger, Consolidation, Disposition, Etc. Each Obligor will not and will not
permit any of its Subsidiaries to: 
 (a) enter into any merger or consolidation, or liquidate, wind-up or dissolve (or suffer any
liquidation or dissolution), discontinue its business or convey, lease, sell, transfer or otherwise dispose of, in one transaction or series of transactions (including by way of division), all or substantially all of its business or property,
whether now owned or hereafter acquired, except for a merger, consolidation, liquidation, windup, dissolution, or sale or transfer of all or substantially all of its assets (i) expressly permitted by this Agreement or the other Note Documents,
(ii) in connection with a Permitted Disposition, (iii) in connection with a Terminated PPA Sale; provided that the aggregate amount of proceeds from all such Terminated PPA Sales pursuant to this clause (iii) and clause
(viii) of Section 10.2(b) shall not exceed $35,000,000 and any such transaction shall be subject to Section 10.1, if applicable; (iv) in connection with liquidating, winding-up or terminating Non-Obligor Subsidiaries no longer
useful to the Company or its Subsidiaries; (v) in the case of a Non-Obligor Subsidiary, with, into or to any other Non-Obligor Subsidiary or to any Obligor, and in the case of any Obligor other than the Company, with, into or to any other
Obligor; provided, that, except for a Permitted Tax Equity Transaction, no Disposition pursuant to this clause (v) shall result in any asset of any of the Company’s Subsidiaries as of the Closing with respect to which a Tax Equity
Investor has no direct or indirect interest being transferred to a Subsidiary in which a Tax Equity Investor has a direct or indirect interest; and (vi) in connection with a Permitted Tax Equity Transaction; or 

(b) dispose of any of its property (including by way of division), or, in the case of any Subsidiary of the Company, issue or sell any shares
of such Subsidiary’s Equity Interest to any Person, except: (i) Dispositions expressly permitted by this Agreement or the other Note Documents; (ii) Dispositions of capacity, energy, Tax and environmental attributes, ancillary
services and other property and services in accordance with the Project Documents or in the ordinary course of business (including dispositions described in the last sentence of Section 10.1); (iii) Dispositions of property, whether now
owned or hereafter acquired, that is uneconomic, obsolete or no longer useful to the Company or its Subsidiaries, in each case, in the ordinary course 

  
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of business; (iv) Dispositions of land rights (including common facilities), interconnection rights and transmission rights to the extent the Disposition thereof would not reasonably be
expected to materially adversely impact the construction of any Construction Project or the operation of any Project; (v) Dispositions of Permitted Investments; (vi) Dispositions of a Project to a Power Purchaser or a Tax Equity Investor
to the extent required by (and not, for the avoidance of doubt, at the option of the applicable Project Company) the terms of a Power Purchase Agreement or a Tax Equity Document as in effect on the date of the Closing (or entered into in connection
with a Permitted Tax Equity Transaction), respectively (any such sale, a “Required Sale”); (vii) Dispositions of assets (other than Required Sales) (any such sale, a “Permitted Asset Sale”), so long as
(x) after giving pro forma effect to such Dispositions and the prepayment of the Senior Notes in accordance with Section 8.2(b) (to the extent applicable, and assuming each holder of the Notes accepts the initial offer of prepayment
pursuant to Section 8.2(b) and 8.2(f)) and the associated mandatory prepayment of the LC Facility (and/or cash collateralization of Letters of Credit thereunder, to the extent applicable), the projected average Debt Service Coverage Ratio
through the Maturity Date shall be greater than or equal to 1.6:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be greater than or equal to 1.3:1.0 and (y) if the aggregate amount
of proceeds from the applicable Disposition exceeds $25,000,000 or the aggregate amount of proceeds from all Dispositions pursuant to this clause (vii) exceeds $60,000,000, the Rating Condition shall be satisfied (such Required Sales and
Permitted Asset Sales, collectively, “Permitted Dispositions”); (viii) Dispositions of any Project whose Power Purchase Agreement in effect as of the date of the Closing has expired or been terminated (any such sale, a
“Terminated PPA Sale”); provided that the aggregate amount of proceeds from all such Dispositions pursuant to this clause (viii) and clause (iii) of Section 10.2(a) shall not exceed $35,000,000 and any such
transaction shall be subject to Section 10.1, if applicable; (ix) Dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or consistent with past practice or in
bankruptcy or similar proceedings; (x) Dispositions pursuant to foreclosure, condemnation or any similar action with respect to any property or other assets; (xi) Dispositions, in the case of a Non-Obligor Subsidiary, to any other
Non-Obligor Subsidiary or to any Obligor, and in the case of any Obligor other than the Company, to any other Obligor; provided, that, except for a Permitted Tax Equity Transaction, no Disposition pursuant to this clause (xi) shall
result in any asset of any of the Company’s Subsidiaries as of the Closing with respect to which a Tax Equity Investor has no direct or indirect interest being transferred to a Subsidiary in which a Tax Equity Investor has a direct or indirect
interest; (xii) Dispositions of Cancelled Projects and all rights related thereto, or the Equity Interests in any Subsidiary that owns a Cancelled Project, in each case so long as the prepayment required by Section 8.2(d)(i) has been or
concurrently is made with such Disposition and (xiii) Dispositions of Equity Interests in any Subsidiary that directly or indirectly owns the Brown University Project to tax equity investors or a tax equity partnership (or an entity expected to
be a tax equity partnership), so long as the Company in good faith determines that such Disposition(s) are consistent with past GSRP practices or otherwise prudent, and otherwise consistent with the Base Case Projections with respect to the Brown
University Project (taking into consideration the terms of the limited liability company agreement entered into with such tax equity investor(s)) (any such sale, a “Permitted Tax Equity Transaction”). 

  
 47 

 Section 10.3 Line of Business. Each Obligor will not and will not permit any of
its Subsidiaries to engage in any business if, as a result, the general nature of the business in which the Obligors and their Subsidiaries, taken as a whole, would then be engaged would be substantially changed from the general nature of the
business (including any matters reasonably related or incidental thereto) in which the Obligors and their Subsidiaries, taken as a whole, are engaged on the date of this Agreement as described in the Memorandum (it being acknowledged and agreed that
(a) the generation, production, sale, transmission and/or storage of renewable electric power and matters reasonably incidental or related thereto shall be permitted and (b) the actual or expected nameplate capacity of the facilities owned
by the Obligors and their Subsidiaries comprised of wind generation facilities exceeding 10% of the actual or expected nameplate capacity of all facilities owned by the Obligors and their Subsidiaries shall not be permitted). 

Section 10.4 Economic Sanctions, Etc. Holdings will not, and will not permit any of its Controlled Entities to (a) become
(including by virtue of being owned or controlled by a Blocked Person) a Blocked Person, (b) directly or knowingly indirectly engage in any dealing or transaction with any Person if such dealing or transaction is prohibited by applicable
Economic Sanctions Laws or other applicable sanctions laws or (c) directly or knowingly indirectly use the proceeds of the Notes, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other
Person, (i) in connection with any activities or business of or with any Person, or in or involving any country or territory, that, at the time of such funding, is, or whose government is, the subject of any comprehensive Economic Sanctions
Laws, each to the extent in violation of Economic Sanctions Laws, or (ii) in any manner that would result in, or cause, a violation of Economic Sanctions Laws or other applicable sanctions laws by any Person in connection with this Agreement
(including any purchaser of the Notes). 
 Section 10.5 Liens. Each Obligor will not and will not permit any of its Subsidiaries
to directly or indirectly create, incur, assume or permit to exist (upon the happening of a contingency or otherwise) any Lien on or with respect to any Collateral or any other property or asset (including any document or instrument in respect of
goods or accounts receivable) of such Obligor or any such Subsidiary, whether now owned or held or hereafter acquired, or any income or profits therefrom, or assign or otherwise convey any right to receive income or profits, except the following
(collectively, “Permitted Liens”): 
 (a) the Liens created by, and the other rights and interests of the First Lien
Collateral Agent and the other First Lien Secured Parties as provided in, the First Lien Security Documents (including with respect to any Additional Senior Notes); 

(b) Liens imposed by any Governmental Authority for Taxes or customs duties, either (i) secured by an acceptable bond or (ii) not
yet due or (iii) being contested in good faith and by appropriate proceedings and in respect of which appropriate reserves have been established in accordance with GAAP, so long as such proceedings shall not involve any material danger of the
sale, forfeiture or loss of any Material Project or any Material Project site (or any material portion thereof), title thereto or any material interest therein and shall not interfere in any material respect with the use or disposition of any
Material Project or any Material Project site (or any material portion thereof); 

  
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 (c) materialmen’s, mechanics’, workers’, repairmen’s, employees’
or other like Liens arising in the ordinary course of business either for amounts not yet delinquent or for amounts being contested in good faith and by appropriate proceedings and that in the aggregate are not Material; 

(d) Liens that exist as of the date of the Closing and are identified on Schedule 10.5; 

(e) Liens incurred or deposits made in the ordinary course of business in connection with worker’s compensation, unemployment insurance,
social security and other laws; 
 (f) with respect to any real property interests, (i) matters that would be disclosed by an
inspection or survey of such real property and do not, in the aggregate, materially impair the current occupancy or use of the estate or real property to which they relate, (ii) all building, land use, entitlement and zoning codes,
Environmental Laws and other Applicable Laws heretofore, now or hereafter enacted, made or issued, (iii) all rights with respect to the ownership, mining, extraction and removal of oil, gas or minerals of whatever kind and character (including
any rights to gravel, hard rock aggregate, or water extraction) that have been excepted or reserved in the public records and (iv) minor defects, easements, rights-of-way, servitudes, encroachments, restrictions and other similar encumbrances
incurred in the ordinary course of business and all other encumbrances, permits, leases, licenses, covenants, conditions, restrictions on the use of property, minor imperfections in title or other matters of a similar nature that do not secure any
monetary obligations and which do not materially interfere with the construction of the Construction Projects or the current operation of the Material Projects; 

(g) Liens, deposits or pledges to secure statutory obligations or performance of bids, tenders, contracts (other than for the repayment of
borrowed money) or leases, or surety bonds, appeal bonds or performance bonds or for purposes of like general nature in the ordinary course of its business; 

(h) Liens on assets (real or personal) of any Project Company which assets collectively have a fair market value of less than $35,000,000 in
the aggregate, together with Liens for all Project Companies existing under clauses (i) and (n) of this Section 10.5; 
 (i)
involuntary Liens (including a Lien of an attachment, judgment or execution) securing a charge or obligation, on any Project Company’s property, either real or personal, whether now or hereafter owned, in the aggregate sum of less than
$35,000,000, together with Liens for all Project Companies existing under clauses (h) and (n) of this Section 10.5; 
 (j)
Liens and any right of setoff in favor of any bank arising by operation of applicable law or granted pursuant to any contract or agreement governing any deposit accounts permitted under this Agreement or in favor of any credit card company pursuant
to an agreement therewith; 
 (k) non-exclusive licenses of patents, copyrights, trademarks and other intellectual property rights granted
in the ordinary course of business and not interfering in any material respect with the ordinary conduct of or materially detracting from the value of the business of the Obligors; 

  
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 (l) reservations, limitations, provisos and conditions, if any, expressed in any grants,
permits, licenses or approvals from any governmental authority or any similar authority; 
 (m) Liens securing insurance premium financing
arrangements; 
 (n) Liens securing Indebtedness permitted under Section 10.6(b); provided that, (i) such Liens do not at
any time encumber any property other than the property financed by such Indebtedness and (ii) the aggregate outstanding principal amount of such Indebtedness as of the date of incurrence which when taken together with the principal amount of
all other Indebtedness secured pursuant to this clause (n), together with the aggregate amount of the Liens secured by clauses (h) and (i) of this Section 10.5 does not, at any time, exceed $35,000,000; 

(o) Liens deemed to exist in connection with repurchase agreements and other similar investments to the extent such investments are permitted
under the Note Documents; 
 (p) 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; 
 (q) any interest or title of a lessor or
sublessor under any lease or sublease of real estate permitted under the Note Documents (or with respect to any deposits or reserves posted thereunder); 

(r) Liens and other rights and interests (including of the nature of netting and set off, rights of first refusal, rights of first offer,
purchase options and similar rights in respect of the assets of the Project Companies) set forth in the Organizational Documents of the Company or any of its Subsidiaries in effect as of the date of the Closing or entered into after the date of the
Closing in the ordinary course of business consistent with past practices, the Project Documents in effect as of the date of the Closing or entered into after the date of the Closing in the ordinary course of business, the Tax Equity Documents in
effect as of the date of the Closing or entered into after the date of the Closing in the ordinary course of business consistent with past practices or in connection with a Permitted Tax Equity Transaction, or the Project Financing Documents; 

(s) Liens and other rights and interests on any assets committed to be sold pursuant to a transaction permitted by this Agreement; 

(t) Liens of trade vendors securing trade or other similar indebtedness incurred in the ordinary course of business and not more than 90 days
past due and that in the aggregate are not Material; 
 (u) Liens and other exceptions to title to, or leasehold interests in, property
that are set forth in any title insurance policies, in each case for purposes of this clause (u), as in existence as of the date of the Closing; 

  
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 (v) second priority Liens on the Collateral (including with respect to any Subordinate
Notes) pursuant to the terms of the Second Lien Security Documents (as defined in the Intercreditor Agreement) securing the Obligors’ Second Lien Obligations (as defined in the Intercreditor Agreement), which second priority Liens shall be
subject to the terms of the Intercreditor Agreement; and 
 (w) other Liens securing an amount not to exceed $35,000,000; provided that
if Indebtedness is secured by Liens pursuant to this clause (w) and such Indebtedness is (A) secured on a first priority basis, the agent or representative for the secured parties under the financing documents evidencing such
Indebtedness has joined the Intercreditor Agreement pursuant to a joinder as a Secured Debt Representative (as defined in the Intercreditor Agreement) or (B) secured on a second priority basis, a Second Lien Collateral Agent (as defined in the
Intercreditor Agreement) has been appointed by the secured parties under such Indebtedness and such Second Lien Collateral Agent has joined the Intercreditor Agreement pursuant to a joinder. 

Section 10.6 Indebtedness. Each Obligor will not and will not permit any of its Subsidiaries to create, incur, assume, suffer to
exist or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, other than the following: 
 (a)
Indebtedness of the Company under (i) the Notes and (ii) the LC Facility (and any Replacement LC Facility); 
 (b) Indebtedness
of the Company or any Subsidiary thereof in respect of Capital Leases, Synthetic Lease obligations, purchase money obligations, and for deferred purchase price obligations, in each case, for fixed or capital assets and services within the
limitations set forth in proviso of Section 10.5(n); 
 (c) trade or other similar Indebtedness of the Company or any Subsidiary
thereof incurred in the ordinary course of business (but not for borrowed money) that is (i) not more than 90 days past due or (ii) being contested in good faith and by appropriate proceedings; 

(d) Guarantees of any Guarantor in respect of Indebtedness otherwise permitted hereunder of the Company; 

(e) Indebtedness of the Company or any Subsidiary thereof in respect of workers’ compensation claims, self-insurance obligations,
bankers’ acceptances, performance and surety bonds in the ordinary course of business; 
 (f) Indebtedness of any Obligor or any
Subsidiary thereof arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds, so long as such debt is promptly covered; 

(g) contingent obligations of the Company or any Subsidiary thereof arising from indemnities provided under the Financing Documents, Project
Financing Documents, Tax Equity Documents and Project Documents; 

  
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 (h) Indebtedness of the Company or any Subsidiary thereof arising from netting services,
overdraft protection, cash management obligations and otherwise in connection with the Depositary Accounts; 
 (i) Indebtedness of the
Company or any Subsidiary thereof providing for (i) indemnification, adjustment of purchase price or similar obligations or (ii) deferred purchase price obligations, in each case, in connection with the acquisition or disposition of any
business, assets or Equity Interests of a Subsidiary of the Company after the Closing or as set forth in Schedule 10.6; provided that any Indebtedness incurred after the Closing pursuant to clause (ii) shall not exceed $6,000,000 at any
time; 
 (j) Indebtedness representing deferred compensation to employees of the Company or any Subsidiary thereof arising in the ordinary
course of business; 
 (k) Indebtedness of the Company or any Subsidiary thereof consisting of the financing of insurance premiums in the
ordinary course of business; 
 (l) Indebtedness of the Company or any Subsidiary thereof consisting of judgments which do not constitute
an Event of Default under Section 11(k); 
 (m) Taxes or customs duties, either (i) secured by an acceptable bond or
(ii) not yet due or (iii) being contested in good faith and by appropriate proceedings and in respect of which appropriate reserves have been established in accordance with GAAP, so long as such proceedings shall not involve any material
danger of the sale, forfeiture or loss of any Project or any Project site (or any material portion thereof), title thereto or any material interest therein and shall not interfere in any material respect with the use or disposition of any Project or
any Project site (or any material portion thereof); 
 (n) Indebtedness of the Company or any Subsidiary thereof arising from
non-speculative hedging obligations and hedging and hedge-like obligations with respect to capacity, energy, Tax and environmental attributes, ancillary services and other products and services in accordance with the Project Documents or in the
ordinary course of business; 
 (o) Indebtedness in respect of performance bonds, bid bonds, letters of credit, appeal bonds, surety bonds,
completion guarantees, indemnification obligations, obligations to pay insurance premiums, take or pay obligations and similar obligations incurred in the ordinary course of business in connection with Project Obligations; 

(p) other Indebtedness of the Company; provided that the following conditions shall be satisfied at the time of incurrence:
(i) to the extent that the Indebtedness incurred by the Company pursuant to this clause (p) is the issuance of Securities similar to the Initial Notes or Subordinate Notes, the terms of Section 1.3(e) and Section 1.3(f) shall
apply to such Securities as if such Securities are Additional Senior Notes or Subordinate Notes, respectively, (ii) the projected average Debt Service Coverage Ratio through the Maturity Date shall be greater than or equal to 1.6:1.0 and the
projected minimum Debt Service Coverage Ratio for any Rolling Period through the Maturity Date shall be greater than or equal to 1.3:1.0, (iii) the Rating Condition shall be satisfied, (iv) to the extent such Indebtedness is unsecured or
secured on 

  
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a second priority basis, the projected average Debt Service Coverage Ratio (calculated as though Debt Service were defined to include all Indebtedness of the Company for borrowed money that is
unsecured or secured on a first priority basis or second priority basis) through the Maturity Date shall be greater than or equal to 1.2:1.0 and (v) to the extent such Indebtedness is (A) secured on a first priority basis, the agent or
representative for the secured parties under the financing documents evidencing such Indebtedness has joined the Intercreditor Agreement pursuant to a joinder as a Secured Debt Representative (as defined in the Intercreditor Agreement) or
(B) secured on a second priority basis, a Second Lien Collateral Agent (as defined in the Intercreditor Agreement) has been appointed by the secured parties under such Indebtedness and such Second Lien Collateral Agent has joined the
Intercreditor Agreement pursuant to a joinder; 
 (q) any Indebtedness of the Company or any Subsidiary thereof in an aggregate outstanding
amount, together with the aggregate amount of Indebtedness incurred pursuant to clause (b) of this Section 10.6, not to exceed $35,000,000 at any time; provided that (i) to the extent that the Indebtedness incurred by the
Company pursuant to this clause (q) is the issuance of Securities similar to the Initial Notes, whether secured or unsecured, the terms of Section 1.3(e) and Section 1.3(f) shall apply to such Securities and (ii) to the extent
that the Indebtedness incurred pursuant to this clause (q) is secured by a Permitted Lien under clause (w) of Section 10.5, if such Indebtedness is (A) secured on a first priority basis, the agent or representative for the
secured parties under the financing documents evidencing such Indebtedness has joined the Intercreditor Agreement pursuant to a joinder as a Secured Debt Representative (as defined in the Intercreditor Agreement) or (B) is a secured on a second
priority basis, a Second Lien Collateral Agent (as defined in the Intercreditor Agreement) has been appointed by the secured parties under such Indebtedness and such Second Lien Collateral Agent has joined the Intercreditor Agreement pursuant to a
joinder; and 
 (r) any Indebtedness of any Subsidiary of the Company pursuant to any Project Financing Documents. 

Section 10.7 Restricted Payments. Neither the Company nor any Guarantor will declare, make or pay, or permit any Subsidiary to
make or pay, any Restricted Payments except that: (a) each Guarantor may declare, make and pay any Restricted Payments to the Company or another Guarantor and each Non-Obligor Subsidiary may declare, make and pay any Restricted Payments to the
Company or any other Subsidiary of the Company, (b) the Company may make Permitted Tax Distributions in accordance with the Depositary Agreement and so long as no Default or Event of Default shall have occurred and be continuing or would exist
after giving effect to such Permitted Tax Distribution, (c) in the case of the Subsidiaries, Restricted Payments may be made to the Tax Equity Investors to the extent expressly required by the terms of the applicable Tax Equity Documents as in
effect on the date of the Closing or entered into in connection with a Permitted Tax Equity Transaction, (d) the Company may declare, make and pay Restricted Payments, at any time, with (i) any proceeds of Excess Tax Equity Proceeds (as
defined in the Depositary Agreement), (ii) any amounts received by the Company or any of its Subsidiaries in respect of any network or interconnection upgrade refunds pursuant to an interconnection agreement or as reimbursement for construction
costs for shared facilities that were not included in the Base Case Projections and (iii) any amounts on deposit as of the Closing Date in the Safekeeping Account (and any interest earned on such amounts) that are thereafter released from the
Safekeeping Account and (e) the Company may declare, make and pay Restricted Payments so long as the following conditions (the “Distribution Conditions”) have been satisfied as of the date of the proposed Restricted Payment:

  
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 (i) no Default or Event of Default shall have occurred and be continuing or
would exist after giving effect to such Restricted Payment; 
 (ii) the Debt Service Reserve Account shall be fully funded
in accordance with the requirements of the Depositary Agreement and, if applicable, each of the Supplemental Reserve Account, the Buyout Reserve Account, the High Desert Reserve Account and the Supplemental Buyout Reserve Account shall be fully
funded in accordance with the requirements of the Depositary Agreement; 
 (iii) the Debt Service Coverage Ratio for the
previous Rolling Period of the Company shall be equal to or greater than 1.2:1.0; 
 (iv) the projected Debt Service
Coverage Ratio for the Rolling Period commencing on the applicable Quarterly Payment Date shall be equal to or greater than 1.2:1.0; 

(v) all then due and payable Reimbursement Obligations and LC Loans shall have been repaid in full; 

(vi) such Restricted Payment is made solely from the funds on deposit in the Distribution Reserve Account; and 

(vii) the Company shall have delivered to each holder of a Note that is an Institutional Investor a certificate of an
Authorized Officer certifying that each of the conditions set forth in clauses (i) through (iv) above have been satisfied, and attaching calculations demonstrating that the Debt Service Coverage Ratio specified in clause (iii) above
has been satisfied, as of the date of the proposed Restricted Payment. 
 Section 10.8 Investments. Each Obligor will not and
will not permit any of its Subsidiaries to make any Investments other than: 
 (a) Permitted Investments; 

(b) Investments consisting of the purchase of interests in Projects in accordance with the Tax Equity Documents pursuant to a “call
right”, “purchase option”, “put option”, “right of withdrawal” or similar right or option set forth therein (each such purchase, a “Tax Equity Buyout Exercise”), provided that, the aggregate
Dollar amount of all such Tax Equity Buyout Exercises shall not exceed $120,000,000, except that such limit shall not apply in the case of any amounts (i) payable from the Distribution Reserve Account so long as the Distribution Conditions are
satisfied or (ii) funded with Indebtedness or equity contributions permitted hereunder; 

  
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 (c) Investments constituting Capital Expenditures made in accordance with
Section 10.9; 
 (d) Investments in any Obligor or any of their Subsidiaries owned as of the date of the Closing; 

(e) Investments with cash on deposit in the Distribution Reserve Account, that otherwise would be distributable; 

(f) Investments required in accordance with Organizational Documents (including the Tax Equity Documents) as in effect on the date of the
Closing or entered into in connection with a Permitted Tax Equity Transaction; 
 (g) performance of any guarantees or undertakings made
for the benefit of Subsidiaries; 
 (h) Investments identified in the Base Case Projections or the funds flow memorandum delivered on the
date of the Closing pursuant to Section 4.1(j), including in the Construction Projects; 
 (i) other Investments so long as
(i) the projected average Debt Service Coverage Ratio through the Maturity Date following such Investments shall be greater than or equal to 1.6:1.0 and the projected minimum Debt Service Coverage Ratio for any Rolling Period through the
Maturity Date shall be greater than or equal to 1.3:1.0 and (ii) solely if the aggregate amount invested in such Investment exceeds $25,000,000 or the aggregate amount of Investments pursuant to this clause (i) exceeds $60,000,000, the
Rating Condition shall be satisfied; and 
 (j) accepting contributions and transfers from a Person that owns any outstanding shares of its
capital stock or similar Equity Interests. 
 Section 10.9 Capital Expenditures. Each Obligor will not and will not permit any
of its Subsidiaries to make any capital expenditures, other than: 
 (a) Required Capital Expenditures; 

(b) with respect to any Construction Project; and 

(c) any capital expenditure made to make any modification, alteration, addition or improvement to the Projects that the Company considers
necessary or desirable in the proper conduct of the business of the Company and its Subsidiaries, as determined in the sole discretion of the Company (collectively, “Discretionary Capital Expenditures”), so long as such
Discretionary Capital Expenditures would not reasonably be expected to have a Material Adverse Effect. 
 Section 10.10 Restrictions
on Subsidiary Dividends or Other Distributions. Except as may be required by Applicable Law, the Financing Documents, the Project Financing Documents, the Tax Equity Documents in effect on the date of the Closing or entered into in connection
with 

  
 55 

 
a Permitted Tax Equity Transaction and Contractual Obligations described on Schedule 5.4 in effect on the date of the Closing, the Company will not and will not permit any of its Subsidiaries to
create or otherwise cause or suffer to exist or become effective any consensual encumbrance, limitation or restriction of any kind on the ability of any Subsidiary of the Company to pay dividends or make any other distributions on any of such
Subsidiary’s Equity Interests owned by the Company or any other Subsidiary of the Company, provided that: 
 The pr ovisions
described in this Section 10.10 will not apply to: 
 (a) encumbrances and restrictions existing under or by reason of this Agreement;

 (b) any agreement or instrument in effect on the date of the Closing, and any replacement thereof that is entered into on an
arm’s-length basis and, taken as a whole, is no more restrictive that the agreement or instrument it replaces; 
 (c) encumbrances or
restrictions contained in any agreement or other instrument of a Person acquired by the Company or any Subsidiary in effect at the time of such acquisition in each case, which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the acquired or redesignated Person, or the property or assets of the acquired or redesignated Person, and was not put in place in contemplation of such event; 

(d) encumbrances or restrictions contained in contracts for sales of Equity Interests or assets permitted by Section 10.2 with respect
to the assets or Equity Interests to be sold pursuant to such contract or in customary merger or acquisition agreements (or any option to enter into such contract) for the purchase or acquisition of Equity Interests or assets or any of the
Company’s Subsidiaries by another Person; 
 (e) encumbrances or restrictions existing under or by reason of applicable law,
regulation or similar restriction or by governmental licenses, concessions, franchise or permits; 
 (f) encumbrances or restrictions on
cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 
 (g) customary
restrictions on the transfer of non-cash assets contained in power purchase agreements and similar agreements; and 
 (h) customary
provisions contained in agreements entered into in the ordinary course of business. 
 Section 10.11 Tax Equity Guarantees. Each
of the Obligors will not, and will use commercially reasonable efforts to cause each Tax Equity Guarantor not to, amend, modify, supplement or terminate any Tax Equity Guarantee, other than to the extent that such amendment, modification, supplement
or termination would not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 10.12 Tax Credits and Other Tax-Related Matters. None of the Obligors or
any Subsidiary thereof will, nor will any Obligor or any Subsidiary thereof direct or, to the extent within the control of an Obligor or Subsidiary thereof, permit any Person to, (a) take any action which could reasonably be expected to result
in any indemnity claim by a Tax Equity Investor against such Obligor or any Subsidiary with respect to any recapture, disallowance, reduction or loss of any Tax credit or other Tax benefit (including any Cash Grant) claimed with respect to any
Project subject to a Tax Equity Document that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect, (b) apply for or claim any grant under Section 1603 of Division B of the American Recovery and
Reinvestment Act of 2009, as amended, with respect to any Project or any property that is part of a Project, (c) apply for, claim or receive a production tax credit described in Section 45 of the Code or an investment tax credit described
in Section 48 of the Code with respect to any Cash Grant Project or (d) make an election under Section 1101(g)(4) of the Bipartisan Budget Act, or any subsequent law or guidance (including pursuant to Treasury Regulations
Section 301.9100-22T) to have the provisions of Section 1101 of the Bipartisan Budget Act apply to any partnership income Tax Returns of an Obligor or any Subsidiary thereof filed for any taxable year thereof before January 1, 2018.
Except as set forth on Schedule 10.12, none of the Obligors or any Subsidiary thereof will, or, to the extent within the control of an Obligor or Subsidiary thereof, permit any Person to take any action (by election or otherwise) that would
reasonably be expected to result in the Company or any Subsidiary of the Company being treated as a corporation, or an association taxable as a corporation, for U.S. federal tax purposes (or any similar or corresponding state or local tax purposes).

 Section 10.13 Organizational Documents. Each of the Obligors will not, and will cause each of its Subsidiaries not to, amend,
modify or supplement any of its Organizational Documents, other than to the extent that such amendment, modification or supplement (a) would not reasonably be expected to have a Material Adverse Effect and not adverse to the interests of the
holders in any material respect or (b) is entered into in connection with a Permitted Tax Equity Transaction. 
 Section 10.14
Speculative Transactions. 
 (a) None of the Obligors or any Subsidiary thereof will engage in any transaction involving commodity
swaps, options or futures contracts or any similar transactions other than in the ordinary course of business and not for speculative purposes. 

(b) The Company will not permit more than 90% of the expected energy generation output (as determined in good faith by the Company) of any
Project that, based on the projected Cash Flow Available for Debt Service for the most recently completed Rolling Period for which financial statements have been delivered in accordance with Section 7.1, is projected, in the aggregate, to
generate 5% or more of the aggregate Cash Flow Available for Debt Service over such Rolling Period to be subject to commodity swaps, options or futures contracts or any similar transactions unless the Company has reasonably determined that adequate
resources are available to it or its applicable Subsidiary to satisfy any reasonably likely shortfall in actual generation output of such Project. 

  
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 Section 10.15 Refinancing. None of the Obligors or any Subsidiary thereof will
refinance, extend or otherwise amend in any material respect any Project Financing Document, unless: 
 (a) such refinancing,extension or
amendment would not reasonably be expected to have a Material Adverse Effect, 
 (b) after giving pro forma effect to such refinancing,
extension or amendment, the projected average Debt Service Coverage Ratio through the Maturity Date following such refinancing, extension or amendment shall be greater than or equal to 1.6:1.0 and the projected minimum Debt Service Coverage Ratio
for any Rolling Period through the Maturity Date shall be greater than or equal to 1.3:1.0, 
 (c) the documents evidencing such
refinancing, extension or amendment, taken as a whole, do not contain any more restrictive conditions to the making of restricted payments than such conditions in the Project Financing Documents being refinanced, extended or amended, 

(d) the material terms and conditions (other than fees or interest rate) applicable to the documents evidencing such refinancing, extension
or amendment and, if applicable, the related security or guarantees of such Indebtedness (including covenants, events of default, remedies and acceleration rights) shall, taken as a whole, not be materially less favorable to the applicable
Subsidiaries as the obligors of such Indebtedness than the terms that are applicable under the instruments and documents governing the Indebtedness being refinanced, extended or amended under the Project Financing Documents, 

(e) no Default or Event of Default shall have occurred and be continuing and no Default or Event of Default shall result from the execution
of such refinancing, extension or amendment of the applicable Project Financing Document or the incurrence of Indebtedness thereunder, 

(f) in the case of a refinancing of any Project Financing Document, 

(i) the Indebtedness under the Project Financing Documents being refinanced shall be repaid, repurchased, retired,
defeased or satisfied and discharged in full, all accrued interest, fees, premiums (if any) and penalties in connection therewith shall be paid, and all outstanding commitments thereunder shall be terminated, on the date of such refinancing, 

(ii) the principal amount of the Indebtedness after giving effect to the refinancing (or unutilized commitments thereof, as
applicable) does not exceed the sum of (i) the principal amount (including any accreted or capitalized amount) then outstanding of the Indebtedness being refinanced (or unutilized commitments thereof, as applicable), plus (ii) the
amount of any accrued and unpaid interest, premiums, fees and expenses in respect of the outstanding principal amount of the Indebtedness being refinanced immediately prior to such refinancing plus (iii) the amount of any reasonable fees
and expenses incurred in 

  
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connection with such refinancing plus (iv) the amount of any termination fees or breakage costs in connection with any interest rate hedge in connection with the Indebtedness being
refinanced immediately prior to such refinancing; and the Company shall describe in the certificate delivered pursuant to this Section 10.15 the amount of Indebtedness being refinanced and, if applicable, the amount of unfunded commitments of
the Indebtedness being refinanced that are being cancelled in connection with such credit facility and a summary of information and calculations that are relevant for establishing compliance with this clause (f)(ii), and 

(iii) the final maturity of the Indebtedness after giving effect to the refinancing is the same or later than the maturity of
the Indebtedness being refinanced, and the weighted average life to maturity of such Indebtedness is greater than or equal to the weighted average life to maturity of the Indebtedness being refinanced, as described in the certificate delivered
pursuant to this Section 10.15, and 
 (g) a certificate of an Authorized Officer of the Company shall be delivered to the holders of the
Notes at least 10 Business Days prior to such refinancing, extension or amendment, together with a reasonably detailed description of the material terms and conditions thereof or drafts of the documentation relating thereto, stating that the Company
has determined in good faith that such terms and conditions satisfy the requirements of this Section 10.15, which such notice shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Required Holders
notify the Company within such 10 Business Day period that it disagrees with such determination (including a description of the basis upon which it disagrees). 

SECTION 11. EVENTS OF DEFAULT. 
 An
“Event of Default” shall exist if any of the following conditions or events shall occur and be continuing: 
 (a) any
principal or Make-Whole Amount, if any, on any Note is not paid when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or 

(b) any interest or fees on any Note is not paid for more than five Business Days after the same becomes due and payable; or 

(c) (i) any amount due in respect of any Note, other than such amounts described in Sections 11(a) or (b), is not paid, for more than 30
days after the same becomes due and payable or (ii) any amount due in respect of any Note Document (other than the Notes) is not paid, within 15 days of any Obligor receiving written notice that such amount is overdue (any such written notice
to be identified as a “notice of default” and to refer specifically to this Section 11(c)(ii)); or 

  
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 (d) (i) any Obligor defaults in the performance of or compliance with any term
contained in Section 8.2(e), Section 9.11 or Section 10, (ii) any Obligor defaults in the performance of or compliance with the first sentence of Section 9.5, and such default is not remedied within five Business Days or
(iii) any Obligor defaults in the performance of or compliance with any term contained in Section 7.1(d) or Section 9.2 and such failure is not remedied within 10 days; or 

(e) any Obligor defaults in the performance of or compliance with any term contained herein (other than those referred to in Sections 11(a),
(b), (c) and (d)) or in any other Note Document and such default is not remedied or waived within 30 days after the earlier of (i) an Authorized Officer obtaining Knowledge of such default and (ii) any Obligor receiving written notice
of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(e)); provided, however, that if such Default is capable of being
cured and if such Obligor commences efforts to cure such Default within such 30 day period or if such Obligor is prevented from curing such Default within such 30 day period due to applicable legal or regulatory restrictions, it may continue to
effect such cure of the Default (and such Default will not be deemed an Event of Default) for an additional 45 days; or 
 (f) any
representation or warranty made by or on behalf of any Obligor or by any officer of any Obligor in any Note Document or any writing or certificate furnished in connection with the transactions contemplated hereby proves to have been untrue in any
material respect on the date as of which made; provided, however, that the same shall not constitute an Event of Default if (i) the fact, event or circumstance resulting in such false or incorrect representation or warranty is
capable of being cured, corrected or otherwise remedied, and (ii) such fact, event or circumstance resulting in such false or incorrect representation or warranty shall have been cured, corrected or otherwise remedied within 30 days (or if such
incorrect representation or warranty is not susceptible to cure within 30 days, and such Obligor is proceeding with diligence and in good faith to cure such default and such default is susceptible to cure, such 30 day period shall be extended as may
be necessary to cure such incorrect representation or warranty, such extended period not to exceed 90 days in the aggregate (inclusive of the original 30 day period)) from the earlier of (x) an Authorized Officer has Knowledge thereof and
(y) any Obligor receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(f)); or 

(g) (i) any Obligor or any of its Subsidiaries is in default (as principal or as guarantor or other surety) in the payment of any
principal of or premium or make-whole amount or interest on, in the aggregate, any Material Indebtedness beyond any period of grace provided with respect thereto, or (ii) any Obligor or any of its Subsidiaries is in default in the performance
of or compliance with any term of any evidence of, in the aggregate, any Material Indebtedness or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such
Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly scheduled dates of payment, or (iii) as a consequence of
the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Indebtedness to convert such Indebtedness into Equity Interests and excluding mandatory prepayments not arising from a default),
(x) any Obligor or any of its Subsidiaries has become obligated to purchase or repay, in the aggregate, any Material 

  
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Indebtedness before its regular maturity or before its regularly scheduled dates of payment, or (y) one or more Persons have the right to require any Obligor or any such Subsidiary so to
purchase or repay such Indebtedness, or (iv) without limiting the foregoing clauses (i) through (iii), an Event of Default (as defined in the LC Facility Credit Agreement) has occurred under the LC Facility, except, in the case of clauses
(i) through (iii), to the extent such event would not reasonably be expected to be Material; or 
 (h) any Obligor or any Subsidiary
of any Obligor (i) is generally not paying, or admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or
arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its
creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be
liquidated, or (vi) takes corporate action for the purpose of any of the foregoing, except, in the case of any Obligor or any Subsidiary of an Obligor (other than, in each case, the Company), to the extent such event would not reasonably be
expected to be Material; or 
 (i) a court or other Governmental Authority of competent jurisdiction enters an order appointing, without
consent by any Obligor or any Subsidiary of any Obligor, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving
a petition for relief or reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of any Obligor or any
Subsidiary of any Obligor, or any such petition shall be filed against any Obligor or any Subsidiary of any Obligor and such petition shall not be dismissed within 60 days, except, in the case of any Obligor or any Subsidiary of an Obligor (other
than, in each case, the Company), to the extent such event would not reasonably be expected to be Material; or 
 (j) any event occurs with
respect to any Obligor or any Subsidiary of any Obligor, which under the laws of any jurisdiction is analogous to any of the events described in Section 11(h) or Section 11(i), provided that the applicable grace period, if any, which shall
apply shall be the one applicable to the relevant proceeding which most closely corresponds to the proceeding described in Section 11(h) or Section 11(i), except, in the case of any Obligor or any Subsidiary of an Obligor (other than, in
each case, the Company), to the extent such event would not reasonably be expected to be Material; or 
 (k) one or more final judgments or
orders for the payment of money aggregating in excess of $72,000,000 (or its equivalent in the relevant currency of payment) (excluding any judgments or orders covered by insurance and for which the applicable insurer has acknowledged liability) are
rendered against one or more of the Obligors and their Subsidiaries and which judgments are not, within 60 days after entry thereof, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay;
or 

  
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 (l) if (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or
the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan shall have been or is reasonably
expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan may
become a subject of any such proceedings, (iii) there is any “amount of unfunded benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under one or more Plans, determined in accordance with Title IV of ERISA,
(iv) the aggregate present value of accrued benefit liabilities under all funded Non-U.S. Plans exceeds the aggregate current value of the assets of such Non-U.S. Plans allocable to such liabilities, (v) the Company or any ERISA Affiliate
shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (vi) the Company or any ERISA Affiliate withdraws
from any Multiemployer Plan, (vii) Holdings or any Subsidiary of Holdings establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of Holdings or any
such Subsidiary thereunder, (viii) Holdings or any Subsidiary of Holdings fails to administer or maintain a Non-U.S. Plan in compliance with the requirements of any and all applicable laws, statutes, rules, regulations or court orders or any
Non-U.S. Plan is involuntarily terminated or wound up, or (ix) Holdings or any Subsidiary of Holdings becomes subject to the imposition of a financial penalty (which for this purpose shall mean any tax, penalty or other liability, whether by
way of indemnity or otherwise) with respect to one or more Non-U.S. Plans; and any such event or events described in clauses (i) through (ix) above, either individually or together with any other such event or events, would reasonably be
expected to have a Material Adverse Effect. As used in this Section 11(l), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the respective meanings assigned to such terms in
section 3 of ERISA; or 
 (m) any Governmental Authorization required for the ownership or operation of any Project is revoked, terminated,
withdrawn or ceases to be in full force and effect, except to the extent such revocation, termination, withdrawal or cessation would not reasonably be expected to have a Material Adverse Effect; or 

(n) any Security Document after delivery thereof shall for any reason (other than pursuant to the terms thereof) cease to create a valid and
perfected first priority Lien (subject to Permitted Liens) on any Material portion of the Collateral; provided that the failure of a Lien to be valid and/or perfected shall not constitute an Event of Default if such cessation has been cured
within five Business Days after any Authorized Officer obtained Knowledge thereof, and such valid and perfected Lien (with the priority described in such Security Document) is restored; or 

(o) any provision of any Note Document at any time after its execution and delivery and for any reason other than as expressly permitted
hereunder or thereunder or satisfaction in full of all the Secured Obligations, ceases to be in full force and effect (in each case, except in connection with its expiration in accordance with its terms (and not related to any default thereunder));
or any Obligor or any of its Affiliates expressly repudiates in writing the validity or 

  
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enforceability of any provision of any Note Document; or any Obligor denies in writing that it has any or further liability or obligation under any provision of any Note Document or expressly
purports to revoke, terminate or rescind any provision of any Note Document; 
 provided, that, notwithstanding any provision in any Financing Document to
the contrary, any event or circumstance that would otherwise constitute a Default or an Event of Default that has occurred and is continuing and arises solely in connection with a Construction Project prior to its commencement of commercial
operations shall not constitute a Default or an Event of Default hereunder (so long as the applicable offer for prepayment and any prepayment resulting therefrom, if any, are made in accordance with Section 8.2(d)(i) when required). 

SECTION 12. REMEDIES ON DEFAULT, ETC. 

Section 12.1 Acceleration. 

(a) If an Event of Default with respect to any Obligor described in Section 11(h), (i) or (j) (other than an Event of Default
described in clause (i) of Section 11(h) or described in clause (vi) of Section 11(h) by virtue of the fact that such clause encompasses clause (i) of Section 11(h)) has occurred, all the Senior Notes then outstanding
shall automatically become immediately due and payable. 
 (b) If any other Event of Default has occurred and is continuing, the Required
Holders may at any time at their option, by notice or notices to the Company, declare all the Senior Notes then outstanding to be immediately due and payable. 

(c) If any Event of Default described in Section 11(a), (b) or (c) has occurred and is continuing, any holder or holders of
Senior Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Senior Notes held by it or them to be immediately due and payable. 

(d) The Subordinate Notes may be declared to be due and payable by the holders thereof in the manner set forth in the related Supplemental
NPA pursuant to which such Subordinate Notes are issued, subject in any event to the Subordination Agreement applicable to such Subordinate Notes. 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith
mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including interest accrued thereon at the Default Rate) and (y) the Make-Whole Amount, if any, determined in respect of such
principal amount, shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. Each Obligor acknowledges, and the parties hereto agree, that each holder of a
Note has the right to maintain its investment in the Notes free from repayment by any Obligor (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount, if any, by the Company in the event that the Notes
are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances. 

  
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 Section 12.2 Other Remedies. If any Default or Event of Default has occurred and
is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, subject to the Intercreditor Agreement, the First Lien Collateral Agent (as directed by an Act of Required
Secured Parties under the Intercreditor Agreement) or the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the
specific performance of any agreement contained herein or in any Note or any other Note Document, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by
law or otherwise, including all rights and remedies set forth in the other Note Documents; provided that the right of any holder of a Subordinate Note under this Section 12.2 shall be subject to the applicable Subordination Agreement.

 Section 12.3 Rescission. 

(a) At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the Required Holders, by written
notice to the Company, may rescind and annul any such declaration and its consequences including pursuant to Section 13.2(d) (other than with respect to a Subordinate Note Event of Default) if (i) the Obligors have paid all overdue
interest on the Senior Notes, all principal of and Make-Whole Amount, if any, on any Senior Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if
any, and (to the extent permitted by applicable law) any overdue interest in respect of the Senior Notes, at the Default Rate, (ii) neither any Obligors nor any other Person shall have paid any amounts which have become due solely by reason of
such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 18, and (iv) no judgment
or decree has been entered for the payment of any monies due pursuant hereto, pursuant to any other Note Document or pursuant to the Senior Notes. No rescission and annulment under this Section 12.3(a) will extend to or affect any subsequent
Event of Default or Default or impair any right consequent thereon. 
 (b) Upon the occurrence and during the continuance of a Subordinate
Note Event of Default, provided that the Required Holders and the Required Holders of Subordinate Notes have notified all other holders and the Company to such effect, such Subordinate Note Event of Default shall be waived upon the terms and
conditions as the Required Holders and the Required Holders of Subordinate Notes may prescribe. No rescission and annulment under this Section 12.3(b) will extend to or affect any subsequent Subordinate Note Event of Default. 

Section 12.4 No Waivers or Election of Remedies, Expenses, Etc. No course of dealing and no delay on the part of the First Lien
Collateral Agent or any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement, any
Note or any other Note Document upon any holder of a Note shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations
of the Obligors under Section 16, the Obligors, jointly and severally, will pay to the First Lien Collateral Agent, the Depositary Bank and the holder of each Note on demand such further amount as shall be sufficient to cover all costs and
expenses of such Person incurred in any enforcement or collection under this Section 12, including reasonable attorneys’ fees, expenses and disbursements. 

  
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 Section 12.5 Default Rate. During the period that an Event of Default shall have
occurred and be continuing, interest on the outstanding principal amount of all Notes shall accrue at the applicable Default Rate. 
 SECTION 13.
GUARANTEE, ETC. 
 Section 13.1 Guarantee. The Guarantors hereby jointly and severally guarantee to each holder of any Senior
Note or Senior Notes at any time outstanding and of any Subordinate Note or Subordinate Notes at any time outstanding the prompt payment in full, in Dollars, when due (whether at stated maturity, by acceleration, by mandatory or optional prepayment
or otherwise) of the principal of and Make-Whole Amount, if any, and interest on the Senior Notes and Subordinate Notes (including interest on any overdue principal and Make-Whole Amount, if any and including amounts that would become due but for
the existence of a proceeding under bankruptcy or insolvency law involving any Obligor) and all other amounts from time to time owing by the Company under this Agreement and the other Financing Documents to any holder (including costs, expenses and
Taxes described in Section 4.1(g)) (such payments being herein collectively called the “Guaranteed Obligations”). The Guarantors hereby further jointly and severally agree that if the Company shall default in the payment of any
of the Guaranteed Obligations (after giving effect to all applicable grace and cure periods), the Guarantors will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of
any of the Guaranteed Obligations, the same will be promptly paid in full in cash when due (whether at extended maturity, by acceleration, by mandatory or optional prepayment or otherwise) in accordance with the terms of such extension or renewal.
All obligations of the Guarantors under this Section 13 shall survive the transfer of any Senior Note or Subordinate Note, and any obligations of the Guarantors under this Section 13 with respect to which the underlying obligation of the
Company is expressly stated to survive payment of any Senior Note or Subordinate Note shall also survive payment of such Senior Note or Subordinate Note. 

Section 13.2 Obligations Unconditional. 

(a) The obligations of the Guarantors under Section 13.1 constitute a present and continuing guaranty of payment when due and not
collectability and are absolute, unconditional and irrevocable, irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Company under this Agreement, the other Note Documents or any other agreement or
instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, to the fullest extent permitted by Applicable Law, irrespective of any other
circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, other than the payment in full of the Guaranteed Obligations. Without limiting the generality of the foregoing, it is agreed
that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which shall remain absolute and unconditional as described above: 

  
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 (i) any amendment, supplement or modification of any provision of this
Agreement, the other Note Documents or any assignment or transfer thereof, including the renewal or extension of the time of payment of any of the Notes or the granting of time in respect of such payment thereof, or of any furnishing or acceptance
of security or any additional guarantee or any release of any security or guarantee so furnished or accepted for any of the Notes, or the issuance of any Additional Senior Notes or Subordinate Notes; 

(ii) any waiver, consent, extension, granting of time, forbearance, indulgence or other action or inaction under or in respect
of this Agreement or the other Note Documents, or any exercise or non-exercise of any right, remedy or power in respect hereof or thereof; 

(iii) any Lien or security interest granted to, or in favor of, any other holder of a Note as security for any of the
Guaranteed Obligations shall fail to be perfected; 
 (iv) any bankruptcy, receivership, insolvency, reorganization,
arrangement, readjustment, composition, liquidation or similar proceedings with respect to the Company or any other Person or the properties or creditors of any of them; 

(v) the occurrence of any Default or Event of Default under, or any invalidity or any unenforceability of, or any
misrepresentation, irregularity or other defect in, this Agreement, the other Note Documents or any other agreement; 
 (vi)
any transfer of any assets to or from the Company, including any transfer or purported transfer to the Company from any Person, any invalidity, illegality of, or inability to enforce, any such transfer or purported transfer, any consolidation or
merger of the Company with or into any Person, any change in the ownership of any Equity Interests of the Company, or any change whatsoever in the objects, capital structure, constitution or business of the Company; 

(vii) any default, failure or delay, willful or otherwise, on the part of the Company or any other Person to perform or comply
with, or the impossibility or illegality of performance by the Company or any other Person of, any term of this Agreement, the other Financing Documents or any other agreement; 

(viii) any suit or other action brought by, or any judgment in favor of, any beneficiaries or creditors of, the Company or any
other Person for any reason whatsoever, including any suit or action in any way attacking or involving any issue, matter or thing in respect of this Agreement, the other Financing Documents or any other agreement; 

  
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 (ix) any lack or limitation of status or of power, incapacity or disability
of the Company or any trustee or agent thereof; or 
 (x) any other thing, event, happening, matter, circumstance or
condition whatsoever (other than the payment in full of the Guaranteed Obligations), not in any way limited to the foregoing. 
  

(b) The Guarantors hereby unconditionally waive diligence, presentment, demand of payment, protest and all notices whatsoever and any
requirement that any holder of a Senior Note or Subordinate Note exhaust any right, power or remedy against any Obligor under this Agreement, the other Note Documents or any other agreement or instrument referred to herein or therein, or against any
other Person under any other guarantee of, or security for, any of the Guaranteed Obligations. 
 (c) In the event that the Guarantors
shall at any time pay any amount on account of the Guaranteed Obligations or take any other action in performance of their obligations hereunder, the Guarantors shall not exercise any subrogation or other rights hereunder or under the Senior Notes
or Subordinate Notes and each Guarantor hereby waives all rights it may have to exercise any such subrogation or other rights, and all other remedies that it may have against the Company, in respect of any payment made hereunder unless and until the
Guaranteed Obligations shall have been paid in full in cash. If any amount shall be paid to the Guarantors on account of any such subrogation rights or other remedy, notwithstanding the waiver thereof, such amount shall be received in trust for the
benefit of the holders of the Senior Notes or Subordinate Notes and shall forthwith be paid to such holders to be credited and applied upon the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms hereof. Each Guarantor
agrees (i) that its obligations under this Section 13 shall be automatically reinstated if and to the extent that for any reason any payment (including payment in full) by or on behalf of the Company is rescinded or must be otherwise
restored by any holder of a Senior Note or Subordinate Note, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, all as though such amount had not been paid and (ii) that it will indemnify each holder of a Note
on demand for all reasonable costs and expenses (including fees of counsel) incurred by such Person in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such
payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law. 
 (d) If an
event permitting the acceleration of the maturity of the principal amount of the Senior Notes or Subordinate Notes shall at any time have occurred and be continuing and such acceleration (and the effect thereof on the Guaranteed Obligations) shall
at such time be prevented by reason of the pendency against the Company or any other Person of a case or proceeding under a bankruptcy or insolvency law, each Guarantor agrees that, for purposes of the guarantee in this Section 13 and such
Guarantor’s obligations under this Agreement, the maturity of the principal amount of the Senior Notes or Subordinate Notes, as applicable, shall be deemed to have been accelerated (with a corresponding effect on the Guaranteed Obligations)
with the same effect as if the holders of the Senior Notes or Subordinate Notes had accelerated the same in accordance with the terms of this Agreement, and the Guarantors shall forthwith pay such principal amount, any interest thereon, any
Make-Whole Amount and any other amounts guaranteed hereunder without further notice or demand. 

  
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 (e) The guarantee in this Section 13 is a continuing guarantee and shall apply to the
Guaranteed Obligations whenever arising. Each default in the payment or performance of any of the Guaranteed Obligations shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the
case may be, hereunder as each such default occurs. 
 Section 13.3 Instrument for the Payment of Money. Each Guarantor hereby
acknowledges that the guarantee in this Section 13 constitutes an instrument for the payment of money, and consents and agrees that any holder of a Note or the First Lien Collateral Agent, at its sole option, in the event of a dispute by such
Guarantor in the payment of any moneys due hereunder, shall have the right to proceed by motion for summary judgment in lieu of complaint pursuant to N.Y. Civ. Prac. L&R § 3213. 

Section 13.4 General Limitation on Guarantee Obligations. In any action or proceeding involving any state or provincial corporate
law, or any foreign, state, provincial or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Guarantor under Section 13.1 would otherwise be held or determined to
be void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 13.1, then, notwithstanding any other provision hereof to the contrary, the amount of such
liability shall, without any further action by such Guarantor, any holder of a Note, the First Lien Collateral Agent or any other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated
to the claims of other creditors as determined in such action or proceeding. 
 Section 13.5 Discharge of Guaranty Upon Sale of
Guarantor. If all of the outstanding 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 and in a manner permitted by
the terms and conditions of the Note Documents, 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 the First Lien Collateral Agent,
any Secured Party or any other Person, effective as of the time of such sale or disposition. 
 Section 13.6 Additional
Guarantors. Upon (a) the formation or acquisition by the Company or any other Obligor of any new direct or indirect Subsidiary after the date of the Closing that owns directly or indirectly 100% of the Equity Interests in a Portfolio
Company or assets that would reasonably be expected to be Material or (b) the guarantee by any Person, including any Subsidiary of the Company, of any Permitted Senior Secured Indebtedness or the Subordinate Notes, the Company shall, at the
Company’s expense within 10 days after such formation or acquisition or the giving of such guarantee cause such Subsidiary (or, in the case of clause (b), such Person) to duly execute and deliver (i) to the First Lien Collateral Agent and
each holder of one or more Notes, a Joinder Agreement or such other documentation reasonably acceptable to the 

  
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 Required Holders to become a Guarantor pursuant to this Agreement, and (ii) to the First Lien Collateral
Agent, a “Security Agreement Supplement” (as defined in the First Lien Pledge and Security Agreement), or such other documentation reasonably acceptable to the First Lien Collateral Agent to become a “Grantor” (as defined in the
First Lien Pledge and Security Agreement) pursuant to the First Lien Pledge and Security Agreement. 
 Section 13.7 Subordinate
Notes. The Subordinate Notes shall be subordinated to the payment of the Senior Notes on terms set forth in the applicable Subordination Agreement and the guarantee under this Section 13 of any Subordinate Notes shall be subject to the terms of
such Subordination Agreement, mutatis mutandis. 
 SECTION 14. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 

Section 14.1 Registration of Notes. The Notes Agent, on behalf of the Company, shall keep at its office specified in Section 15.6, a
register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such
register. If any holder of one or more Notes is a nominee, then (a) the name and address of the beneficial owner of such Note or Notes shall also be registered in such register as an owner and holder thereof and (b) at any such beneficial
owner’s option, either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to this Agreement. Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered
shall be deemed and treated as the owner and holder thereof for all purposes hereof, and no Obligor shall be affected by any notice or knowledge to the contrary. The Notes Agent, on behalf of the Company, shall give to (i) any holder of a Note that
is an Institutional Investor and (ii) the First Lien Collateral Agent promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes and including the aggregate outstanding principal amount
of all Senior Note Obligations (as defined in the Intercreditor Agreement) held by such registered holders of Notes at such time. 

Section 14.2 Transfer and Exchange of Notes. Upon surrender of any Note to the Notes Agent at the address specified in Section 15.6,
for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s attorney duly authorized
in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof and any other information or documentation the Notes Agent may reasonably request), within 10 Business Days
thereafter, the Company shall execute and deliver, at the Company’s expense (except as provided below), one or more new Notes of the same Series (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal
to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit B-1 in the case of the Initial Notes, or of the Note form
established for the applicable Series. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid
thereon. The “Record Date” for purposes of all transfers and exchanges of Notes shall be ten (10) Business Days prior to the date on which any payment of 

  
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principal or interest is due hereunder, and all such payments of principal and interest shall accordingly be made to the record holder of such Note as of the Record Date. The Company may require
payment of a sum sufficient to cover any stamp Tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $500,000 without the consent of the Company in its sole
discretion, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes of a Series, one Note of such Series may be in a denomination of less than $500,000. Any transferee, by its acceptance of
a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2. 

Section 14.3 Replacement of Notes. Upon receipt by the Notes Agent at the address specified in Section 15.6 of evidence reasonably
satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft,
destruction or mutilation), and 
 (a) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company and
the Notes Agent (provided that if the holder of such Note is, or is a nominee for, an Initial Purchaser or another holder of a Note with a minimum net worth of at least $50,000,000 or a Qualified Institutional Buyer, such Person’s own
unsecured agreement of indemnity shall be deemed to be satisfactory), or 
 (b) in the case of mutilation, upon surrender and cancellation
thereof and receipt of indemnity reasonably satisfactory to the Company and the Notes Agent (provided that if the holder of such Note is, or is a nominee for, an Initial Purchaser or another holder of a Note with a minimum net worth of at
least $50,000,000 or a Qualified Institutional Buyer, such Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), 
 within
10 Business Days thereafter, the Notes Agent shall request that the Company, and the Company shall (at its own expense), execute and deliver, in lieu thereof, a replacement Note of the same Series, dated and bearing interest from the date to which
interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon. 

SECTION 15. PAYMENTS ON NOTES; APPOINTMENT OF FIRST LIEN COLLATERAL AGENT. 

Section 15.1 Place of Payment. Subject to Section 15.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and
payable on the Notes shall be made at the principal office of the Notes Agent. The Company may at any time, by notice to each holder of a Note, change the place of payment of the Notes so long as such place of payment shall be either the principal
office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 
 Section 15.2
Payment by Wire Transfer. So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding anything contained in Section 15.1 or in such Note to the contrary, the Company (or the Notes Agent, on its behalf) will pay
all sums becoming due 

  
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on such Note for principal, Make-Whole Amount, if any, interest and all other amounts becoming due hereunder by the method and at the address specified for such purpose below such
Purchaser’s name in the Purchaser Schedule or the applicable Supplemental NPA, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Company and the Notes Agent in writing for such
purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company or the Notes Agent made concurrently with or reasonably promptly after payment or prepayment in full
of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Notes Agent at the address specified in Section 19(v). Prior to any sale or other disposition of any Note held by a
Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Notes Agent in exchange for a new
Note or Notes pursuant to Section 14.2. The Company will afford the benefits of this Section 15.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that
has made the same agreement relating to such Note as the Purchasers have made in this Section 15.2. 
 Section 15.3 Tax
Information. By acceptance of any Note, the holder of such Note agrees that such holder will upon such acceptance of a Note and from time to time thereafter with reasonable promptness duly complete and deliver to the Company and the Notes
Agent, or to such other Person as may be reasonably requested by the Company or the Notes Agent, (a) in the case of any such holder that is a United States Person, an executed Internal Revenue Service (“IRS”) Form W-9 (or any
successor thereto, including appropriate attachments) establishing such holder’s status as a United States Person and exemption from U.S. backup withholding and (b) in the case of any such holder that is not a United States Person, an
executed IRS Form W-8BEN-E (or other applicable IRS Form W-8 or any successor thereto, including appropriate attachments), in each case, any other such documentation prescribed by applicable law (including as prescribed by section 1471(b)(3)(C)(i)
of the Code) as may be necessary for the Obligors and such other Person to comply with their obligations under FATCA or to determine the amount of Taxes (if any) to deduct and withhold from any such payment made to such holder (including any Taxes
imposed under section 1441 or 1442 of the Code (or any successor provisions) and backup withholding) or otherwise comply with applicable tax laws. Each holder of a Note shall as soon as reasonably practicable notify the Company and the Notes Agent
if any form or documentation previously delivered by such holder expires or becomes obsolete or inaccurate in any respect, and shall duly complete and deliver to the Company, the Notes Agent or such other Person an updated form or documentation upon
such event. Nothing in this Section 15.3 shall require any holder to provide information that is confidential or proprietary to such holder unless the Company, the Notes Agent or such other Person is required to obtain such information under
FATCA or to determine the amount of Taxes (if any) to deduct and withhold from any payment made to such holder or otherwise comply with applicable tax laws and, in such event, the Company and the Notes Agent shall treat (and the Company shall cause
the Obligors and such other Person to treat) any such information it receives as confidential except as required by applicable law. The Purchasers shall provide to the Notes Agent or their respective agents all information, documentation or
certifications reasonably requested by the Notes Agent to permit the Notes Agent to comply with their tax reporting obligations under Applicable Law, including any applicable cost basis reporting obligations. For purposes of this Section 15.3,
the term “holder” shall include any beneficial owner of a Note to the extent such person is deemed to be a beneficial owner for purposes of the applicable IRS forms referenced herein. 

  
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 Section 15.4 Appointment. Each Purchaser hereby irrevocably designates and
appoints MUFG Union Bank, N.A., as the First Lien Collateral Agent under this Agreement, the Intercreditor Agreement and the First Lien Security Documents and irrevocably authorizes and directs MUFG Union Bank, N.A., in the capacity of First Lien
Collateral Agent, for the benefit of the Secured Parties, to (a) execute, deliver and perform the obligations, if any, of the First Lien Collateral Agent under this Agreement, the Intercreditor Agreement, each First Lien Security Document and
any ancillary documents delivered in connection herewith or therewith, (b) take such action on its behalf under the provisions of this Agreement, the Intercreditor Agreement, each First Lien Security Document and such ancillary documents and
(c) exercise such powers and perform such duties as are expressly delegated to the First Lien Collateral Agent by the terms of this Agreement, the Intercreditor Agreement, each First Lien Security Document and such ancillary documents together
with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement or the Intercreditor Agreement, the First Lien Collateral Agent shall not have any duties or responsibilities,
except those expressly set forth herein, in the Intercreditor Agreement, in the First Lien Security Documents and in such ancillary documents delivered in connection herewith or therewith, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement, the Intercreditor Agreement, any First Lien Security Document or such ancillary documents, or otherwise exist against the First Lien Collateral Agent. Except as set forth in
Section 1.4, Section 12.3(b) and the Intercreditor Agreement, the holders of the Subordinate Notes will have no rights to direct the First Lien Collateral Agent at any time to waive an Event of Default, take any Act of Required Secured
Parties (as defined in the Intercreditor Agreement) or exercise any rights or remedies with respect to the Collateral in respect of such Event of Default, and the holders of the Subordinate Notes will be bound in all respects by any decisions made
or actions taken by the holders of the Senior Notes then outstanding or by the First Lien Collateral Agent at the direction of such holders of the Senior Notes. 

Section 15.5 Incorporation by Reference. The provisions of Article VII of the Intercreditor Agreement are incorporated herein
mutatis mutandis. Each of the parties hereto agrees that each Purchaser may exercise those rights and shall perform those obligations applicable to a Secured Party set forth in the Intercreditor Agreement. 

Section 15.6 Appointment of Notes Agent. The Company hereby notifies the Initial Purchasers and all future holders of any Notes
that it has appointed MUFG Union Bank, N.A., acting through its office at 1251 Avenue of the Americas, 19th Floor, New York, NY 10020, Attention: Institutional Agency Services (with the address for Notes transfers being 445 South Figueroa St., 20th
Floor, Los Angeles, CA 90071, Attention: Bond Transfers), as the registrar, paying agent and transfer agent in respect of the Notes (together with its successors and assigns collectively in such capacities, the “Notes Agent”). For
the avoidance of doubt, the Notes Agent is acting as an agent, and not a fiduciary, of the Company hereunder, and is not acting as agent or fiduciary for any Purchaser or any holder of a Note. Notwithstanding anything herein to the contrary, the
Notes Agent shall be afforded all of the rights, privileges, protections, powers, immunities, benefits and indemnities of the Notes Agent set forth in the Paying Agent Agreement, 

  
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as if such rights, privileges, protections, powers, immunities, benefits and indemnities were specifically set forth herein, mutatis mutandis. The Company hereby notifies the Initial
Purchasers and all future holders of any Notes that pursuant to the Intercreditor Agreement, the Purchasers have appointed MUFG Bank, Ltd., acting through its office at 1221 Avenue of the Americas, 6th Floor, New York, NY 10020, Attention: Lawrence
Blat, as the Intercreditor Agent. 
 SECTION 16. EXPENSES, ETC. 

Section 16.1 Transaction Expenses. Whether or not the transactions contemplated hereby are consummated, the Obligors will,
jointly and severally, pay all costs and expenses (including reasonable attorneys’ fees of one special counsel for all holders of the Senior Notes and separate special counsel for the holders of any Subordinate Notes and, if reasonably required
by the Required Holders, one local counsel in each relevant jurisdiction for all of the holders of the Senior Notes and separate special counsel in each such jurisdiction for the holders of any Subordinate Notes) incurred by the First Lien
Collateral Agent and Notes Agent and its Affiliates, the Purchasers and each other holder of a Note in connection with such transactions and in connection with the administration of this Agreement and the other Note Documents or any Supplemental
NPAs, amendments, waivers or consents under or in respect of this Agreement, the Notes or any other Note Document (whether or not such amendment, waiver or consent becomes effective), including: (a) the costs and expenses incurred in enforcing
or defending (or determining whether or how to enforce or defend) any rights under this Agreement, the Notes or any other Note Document or in responding to any subpoena or other legal process or informal investigative demand issued in connection
with this Agreement, the Notes or any other Note Document, or by reason of being a holder of any Note, (b) the costs and expenses, including the fees of one financial advisors for all holders of the Senior Notes and separate financial advisor
for the holders of any Subordinate Notes, incurred in connection with the insolvency or bankruptcy of any Obligor or any Subsidiary thereof or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes
or any other Note Document and (c) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO. If required by the NAIC, the Company shall obtain and
maintain at its own cost and expense a Legal Entity Identifier (LEI). 
 The Obligors, jointly and severally, will pay, and will save the
First Lien Collateral Agent and Notes Agent and its Affiliates, each Purchaser and each other holder of a Note harmless from, (i) all claims in respect of any fees, costs or expenses, if any, of brokers and finders (other than those, if any,
retained by a Purchaser or other holder in connection with its purchase of the Notes), (ii) any and all wire transfer fees that any bank or other financial institution deducts from any payment under such Note to such holder or otherwise charges
to a holder of a Note with respect to a payment under such Note and (iii) any judgment, liability, claim, order, decree, fine, penalty, cost, fee, expense (including reasonable attorneys’ fees and expenses) or obligation resulting from the
consummation of the transactions contemplated hereby, including the use of the proceeds of the Notes by the Company. 

  
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 Section 16.2 Certain Taxes. The Obligors agree, jointly and severally, to
pay all recording, documentary, filing, intangible, stamp or other similar Taxes and other fees which may be payable in respect of the execution and delivery or the enforcement of this Agreement or any other Note Document or the execution and
delivery (but not the transfer) or the enforcement of any of the Notes in the United States or any other jurisdiction where any Obligor has assets or of any amendment of, or waiver or consent under or with respect to, this Agreement or any other
Note Document or of any of the Notes, and to pay any value added Tax due and payable in respect of reimbursement of costs and expenses by the Obligors pursuant to this Section 16, and will save each holder of a Note to the extent permitted by
applicable law harmless against any loss or liability resulting from nonpayment or delay in payment of any such Tax or fee required to be paid by the Obligors hereunder. 

Section 16.3 Survival. The obligations of the Obligors under this Section 16 will survive the payment or transfer of
any Note, the enforcement, amendment or waiver of any provision of this Agreement, any other Note Documents or the Notes, and the termination of this Agreement. 

SECTION 17. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

All representations and warranties contained herein, in the other Note Documents and in any certificate or other instrument delivered in
connection with or pursuant to this Agreement or the other Note Documents shall survive the execution and delivery of this Agreement, the Notes and the other Note Documents, the purchase or transfer by any Purchaser of any Note or portion thereof or
interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Purchaser or any other holder of a Note. All statements contained in
any certificate or other instrument delivered by or on behalf of any Obligor pursuant to this Agreement or any other Note Document shall be deemed representations and warranties of such Obligor under this Agreement. Subject to the preceding
sentence, this Agreement, the Notes and any other Note Document embody the entire agreement and understanding between each Purchaser and the Obligors and supersede all prior agreements and understandings relating to the subject matter hereof. 

SECTION 18. AMENDMENT AND WAIVER. 

Section 18.1 Requirements. Subject to the terms of the Intercreditor Agreement, this Agreement, the Notes and the other Note
Documents may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), only with the written consent of the Obligors and the Required Holders, except that: 

(a) no amendment or waiver of any of Sections 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be effective
as to any Purchaser unless consented to by such Purchaser in writing; 
 (b) no amendment or waiver may, without the written consent of the
holder of each Note at the time outstanding, (i) subject to Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or
method of computation of (x) interest on the Notes or (y) the Make-Whole Amount, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any amendment or waiver, (iii) amend
any of Sections 8, 11(a), 11(b), 11(c), 12, 17, 18 or 20, (iv) release any material portion of the Collateral 

  
 74 

 
except in connection with a Permitted Asset Sale permitted under the Note Documents or (v) release any Guarantor except in connection with a Permitted Asset Sale permitted under the Note
Documents; and 
 (c) no amendment or waiver may, without the written consent of the First Lien Collateral Agent or the Notes Agent, amend,
modify, terminate or waive any provision of Section 15.4, 15.5 or any other provision of this Agreement that affects the rights or obligations of the First Lien Collateral Agent or the Notes Agent, as applicable. 

Section 18.2 Solicitation of Holders of Notes. 

(a) Solicitation. The Company will provide each holder of a Note with sufficient information, sufficiently far in advance of the date
a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof or of the Notes or any other Note Document. The Company
will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to this Section 18 or any other Note Document to each holder of a Note promptly following the date on which it is executed and delivered by,
or receives the consent or approval of, the requisite holders of Notes. 
 (b) Payment. No Obligor will directly or indirectly pay
or cause to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of a Note as consideration for or as an inducement to the entering
into by such holder of any waiver or amendment of any of the terms and provisions hereof or any other Note Document or of any Note unless such remuneration is concurrently paid, or security is concurrently granted or other credit support
concurrently provided, on the same terms, ratably to each holder of a Note even if such holder did not consent to such waiver or amendment. 

(c) Consent in Contemplation of Transfer. Any consent given pursuant to this Section 18 or any other Note Document by a holder of
a Note that has transferred or has agreed to transfer its Note to (i) the Company, (ii) any Subsidiary or any other Affiliate of the Company or (iii) any other Person in connection with, or in anticipation of, such other Person
acquiring, making a tender offer for or merging with the Company and/or any of its Affiliates, in each case in connection with such consent shall be void and of no force or effect except solely as to such holder, and any amendments effected or
waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of all other holders of Notes that were acquired under the same or similar conditions) shall be void
and of no force or effect except solely as to such holder. 
 Section 18.3 Binding Effect, Etc. Any amendment or waiver
consented to as provided in this Section 18 or any other Note Document applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Obligors without regard to whether such Note has been
marked to indicate such amendment or waiver. No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of
dealing between an Obligor and any holder of a Note and no delay in exercising any rights hereunder or under any Note or any other Note Document shall operate as a waiver of any rights of any holder of such Note. 

  
 75 

 Section 18.4 Notes Held by Company, Etc. Solely for the purpose of determining
whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement, any other Note Document or the Notes, or have
directed the taking of any action provided herein or in or any other Note Document or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or
indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding. 
 SECTION 19. NOTICES. 

Except to the extent otherwise provided in Section 7.4, all notices and communications provided for hereunder shall be in writing and sent
(a) by telecopy if the sender on the same day sends a confirming copy of such notice by an internationally recognized overnight delivery service (charges prepaid), (b) by registered or certified mail with return receipt requested (postage
prepaid), (c) by an internationally recognized overnight delivery service (charges prepaid) or (d) via email in “.pdf” format. Any such notice must be sent: 

(i) if to any Initial Purchaser or its nominee, to such Initial Purchaser or nominee at the address specified for such
communications in the Purchaser Schedule, or at such other address as such Initial Purchaser or nominee shall have specified to the Obligors, the Notes Agent and the First Lien Collateral Agent in writing; 

(ii) if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the
Obligors, the Notes Agent and the First Lien Collateral Agent in writing; 
 (iii) if to any Purchaser (other than an
Initial Purchaser) or its nominee, to such Purchaser or nominee at the address specified for such communication in the Supplemental NPA to which such Purchaser is a party, or at such other address as such Purchaser or nominee shall have specified to
the Obligors, the Notes Agent and the First Lien Collateral Agent in writing; 
 (iv) if to the First Lien Collateral Agent,
to the First Lien Collateral Agent at the address specified for delivery of notices to the First Lien Collateral Agent in Section 9.10 of the Intercreditor Agreement, or at such other address as the First Lien Collateral Agent shall have
specified to the holder of each Note, the Notes Agent and the Obligors in writing; 
 (v) if to the Notes Agent, to the
Notes Agent at 1251 Avenue of the Americas, 19th Floor, New York, NY 10020, Attention: Institutional Agency Services, or at such other address as the Notes Agent shall have specified to the holder of each Note, the First Lien Collateral Agent and
the Obligors in writing; or 

  
 76 

 (vi) if to any Obligor, to such Obligor at c/o GSAM Renewable Power Group,
200 West Street, New York, NY 10282, Attn: Patrick McAlpine, Email: gs-rpg-legalreviewteam@gs.com, with a copy of any legal notices to 200 West Street, 15th Fl., New York, NY 10282, Attn: General Counsel, or at such other address as the Company
shall have specified to the holder of each Note, the Notes Agent and the First Lien Collateral Agent in writing. 
 Notices under this
Section 19 will be deemed given only when actually received. 
 SECTION 20. REPRODUCTION OF DOCUMENTS. 

This Agreement, each other Note Document and all documents relating thereto, including (a) consents, waivers and modifications that may
hereafter be executed, (b) documents received by any Initial Purchaser at the Closing (except the Initial Notes themselves), (c) documents (except any Additional Senior Notes or Subordinate Notes themselves) received by any holder in
connection with the issuance of any Series of Notes after the date hereof and (d) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be reproduced by such Purchaser by any
photographic, photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so reproduced. The Obligors agree and stipulate that, to the extent permitted by applicable law, any such reproduction
shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by such Purchaser in the regular course of business) and
any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This Section 20 shall not prohibit any Obligor or any other holder of Notes from contesting any such reproduction to the same
extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction. 
 SECTION 21.
CONFIDENTIAL INFORMATION. 
 For the purposes of this Section 21, “Confidential Information” means information
delivered to any Purchaser by or on behalf of any Obligor or any Subsidiary thereof in connection with the transactions contemplated by or otherwise pursuant to this Agreement and the other Note Documents that is proprietary in nature and
(i) that was clearly marked or labeled or otherwise adequately identified when received by such Purchaser as being confidential information of such Obligor or such Subsidiary or (ii) that a reasonable person would expect to be treated as
confidential under the circumstances of its disclosure, provided that such term does not include information that (a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently
becomes publicly known through no act or omission by such Purchaser or any Person acting on such Purchaser’s behalf, (c) otherwise becomes known to such Purchaser other than through disclosure by any Obligor or any Subsidiary thereof or
(d) constitutes financial statements delivered to such Purchaser under Section 7.1 that are otherwise publicly 

  
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available. Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential
information of third parties delivered to such Purchaser, and agrees to, to the extent not prohibited by applicable law from doing so, give the Company prompt written notice of any unauthorized use or disclosure of the Confidential Information, and
assist the Company in remedying any such unauthorized use or disclosure, provided that such Purchaser may deliver or disclose Confidential Information to (i) its directors, officers, employees, agents, attorneys, trustees and affiliates
(to the extent such disclosure reasonably relates to the administration of the investment represented by its Notes), (ii) its auditors, financial advisors and other professional advisors and investors in any Related Fund that hold a beneficial
interest in the Notes, in all cases, who agree to hold confidential the Confidential Information substantially in accordance with this Section 21, (iii) any other holder of any Note, the Notes Agent, any other Secured Party or the First
Lien Collateral Agent, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such Confidential Information to
be bound by this Section 21), (v) any Person from which it offers to purchase any Security of any Obligor (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound by this Section 21),
(vi) any federal, state or provincial regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar organization, or any nationally recognized rating agency that requires access to
information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w) to effect compliance with any law, rule, regulation or order applicable to
such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a party or (z) if an Event of Default has occurred and is continuing, to the extent such
Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under such Purchaser’s Notes, this Agreement or any other Note Document and, in
the event Confidential Information is so required to be disclosed pursuant to the foregoing, the applicable Purchaser agrees to disclose such required Confidential Information to the minimum extent required and (other than at the request of a
regulatory authority, governmental agency or pursuant to a broad based subpoena or similar discovery process, in each case, not directly related to any Obligor or the transactions contemplated hereby), and, solely in the case of the foregoing clause
(viii), such Purchaser shall provide the Company with prompt written notice (unless such notification shall be prohibited by applicable law or legal process) of such permitted disclosure. To the extent that any breach of terms of this
Section 21 occurs, the Purchaser that has breached this Section 21 agrees to use commercially reasonable efforts to assist the Company in restricting or preventing such further breaches. Each holder of a Note, by its acceptance of a Note,
will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 21 as though it were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of
information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying this
Section 21. 
 In the event that as a condition to receiving access to information relating to any Obligor or its Subsidiaries in
connection with the transactions contemplated by or otherwise pursuant to this Agreement or any other Note Document, any Purchaser or holder of a Note is required to agree 

  
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to a confidentiality undertaking (whether through IntraLinks, another secure website, a secure virtual workspace or otherwise) which is different from this Section 21, this Section 21
shall not be amended thereby and, as between such Purchaser or such holder and the Obligors, this Section 21 shall supersede any such other confidentiality undertaking. 

Each Purchaser agrees that money damages may be both incalculable and an insufficient remedy for breach of the terms of this Section 21,
and that in addition to all other remedies available at law or in equity, in the event of any breach of the terms of this Section 21, the Company shall be entitled to seek equitable relief, including injunction and specific performance, without
proof of actual damages and/or the requirement of posting a bond or other security. Each Purchaser agrees to be responsible to the Company for any damage, loss, cost or liability (including reasonable and documented legal fees and the cost of
enforcing this agreement) arising out of or resulting from any breach of the terms of this Section 21 by such Purchaser that is determined by a court or other arbiter of competent jurisdiction in a final, non-appealable order. 

SECTION 22. SUBSTITUTION OF PURCHASER. 

Each Initial Purchaser shall have the right to substitute any one of its Affiliates or another Initial Purchaser or any one of such other
Initial Purchaser’s Affiliates (a “Substitute Purchaser”) as the purchaser of the Initial Notes that it has agreed to purchase hereunder, by written notice to the Company and the Notes Agent, which notice (a) shall be
signed by both such Initial Purchaser and such Substitute Purchaser, (b) shall contain such Substitute Purchaser’s agreement to be bound by this Agreement and the other Note Documents and (c) shall contain a confirmation by such
Substitute Purchaser of the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to such Initial Purchaser in this Agreement (other than in this Section 22), shall be deemed
to refer to such Substitute Purchaser in lieu of such original Initial Purchaser. In the event that such Substitute Purchaser is so substituted as an Initial Purchaser hereunder and such Substitute Purchaser thereafter transfers to such original
Initial Purchaser all of the Initial Notes then held by such Substitute Purchaser, upon receipt by the Company and the Notes Agent of notice of such transfer, any reference to such Substitute Purchaser as a “Purchaser” in this Agreement
(other than in this Section 22), shall no longer be deemed to refer to such Substitute Purchaser, but shall refer to such original Initial Purchaser, and such original Initial Purchaser shall again have all the rights of an original holder of
the Initial Notes under this Agreement and the other Note Documents. 
 SECTION 23. MISCELLANEOUS. 

Section 23.1 Successors and Assigns. All covenants and other agreements contained in this Agreement by or on behalf of any
of the parties hereto bind and inure to the benefit of their respective successors and assigns (including any subsequent holder of a Note) whether so expressed or not, except that, subject to Section 10.2, no Obligor may assign or otherwise
transfer any of its rights or obligations hereunder or under the Notes without the prior written consent of each holder. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto and
their respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 Section 23.2 Accounting Terms. All accounting terms used herein which are
not expressly defined in this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance
with GAAP, and (ii) all financial statements shall be prepared in accordance with GAAP, subject in the case of unaudited financial statements, to the absence of footnotes and year-end adjustments. For purposes of determining compliance with
this Agreement (including Section 9, Section 10 and the definition of “Indebtedness”), any election by the Company to measure any financial liability using fair value (as permitted by Financial Accounting Standards Board
Accounting Standards Codification Topic No. 825-10-25 – Fair Value Option, International Accounting Standard 39 –Financial Instruments: Recognition and Measurement or any similar accounting standard) shall be disregarded
and such determination shall be made as if such election had not been made. 
 Section 23.3 Severability. Any provision
of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 23.4 Construction, Etc. 

(a) Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant
contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which
such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 

(b) Defined terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word
“will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein) and, for purposes
of the Notes, shall also include any such notes issued in substitution therefor pursuant to Section 14, (ii) subject to Section 23.1, any reference herein to any Person shall be construed to include such Person’s successors and
assigns, (iii) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (iv) all
references herein to Sections, Exhibits and Schedules shall be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, and (v) any reference to any law or regulation herein shall, unless otherwise specified, refer to
such law or regulation as amended, modified or supplemented from time to time. 

  
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 (c) For all purposes under the Financing Documents, in connection with any division or plan
of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (i) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it
shall be deemed to have been transferred from the original Person to the subsequent Person, and (ii) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the
holders of its Equity Interests at such time. 
 Section 23.5 Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties
hereto. Delivery of an executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith (other than any Note) by telecopy or “.pdf” shall be effective as delivery of a manually
executed counterpart of this Agreement or such other document or instrument, as applicable. 
 Section 23.6 Governing Law.
This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application
of the laws of a jurisdiction other than such State. 
 Section 23.7 Jurisdiction and Process; Waiver of Jury Trial. 

(a) Each Obligor irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of
Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the Notes or any other Note Document. To the fullest extent permitted by applicable law, each Obligor irrevocably waives and agrees
not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding
brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

(b) Each Obligor agrees, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or proceeding of the
nature referred to in Section 23.7(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the courts of the United States or the State of New York (or any
other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 
 (c) Each Obligor
consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of the nature referred to in Section 23.7(a) by mailing a copy thereof by registered, certified, priority or express mail (or any
substantially similar form of mail), postage prepaid, return receipt or delivery confirmation requested, to it at its address specified in Section 19 or at such other address of which such holder shall then have been notified pursuant to said
Section. Each Obligor agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and 

  
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 (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal
service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 

(d) Nothing in this Section 23.7 shall affect the right of any holder of a Note to serve process in any manner permitted by law, or
limit any right that the holders of any of the Notes may have to bring proceedings against any Obligor in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other
jurisdiction. 
 (E) THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT, THE
NOTES, ANY OTHER NOTE DOCUMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
 Section 23.8 Intercreditor
Agreement. Notwithstanding anything herein to the contrary, the obligations of the Obligors pursuant to this Agreement and all other Secured Obligations, the Lien and security interest granted to the First Lien Collateral Agent pursuant to the
Security Documents, and the exercise of any right or remedy by the First Lien Collateral Agent, any Purchaser or any holder of Notes hereunder or under any other Note Document are subject to the provisions of the Intercreditor Agreement. In the
event of any conflict between the provisions of the Intercreditor Agreement and this Agreement, the provisions of the Intercreditor Agreement shall govern and control. 

Section 23.9 USA PATRIOT Act. The Purchasers subject to the USA PATRIOT Act hereby notify the Obligors that, pursuant to the
requirements of the USA PATRIOT Act, such Purchasers are required to obtain, verify and record information that identifies the Obligors, which information includes the name and address of each Obligor and other information that will allow each
Purchaser to identify such Obligor in accordance with the USA PATRIOT Act. 
 Section 23.10 Limitations on Recourse.
Notwithstanding anything to the contrary in this Agreement, any other Financing Document or any other document executed or delivered in connection with the Financing Documents, none of the Secured Parties (in their capacity as such, and excluding
the rights of any Obligor or any Subsidiary following foreclosure by the Secured Parties) shall have any claims with respect to the transactions contemplated by the Financing Documents against any of the Affiliates of the Company (other than each
other Obligor) (except, in each case, to the extent set forth in the Financing Documents), any present or future holders (direct or indirect) of Equity Interests in Holdings or any shareholders, partners, members, managers, officers, directors,
employees, representatives, controlling persons, executives or agents of Holdings, including the Manager and its Affiliates (collectively, the “Non-Recourse Persons”), such claims against such Non-Recourse Persons (including as may
arise by operation of law) being expressly waived hereby; provided that the foregoing provisions of this Section 23.10 shall not (a) constitute a waiver, release or discharge (or otherwise impair the enforceability) of any of the
Secured Obligations, or of any of the terms, covenants, conditions, or provisions of this Agreement or any other Financing Document and the same shall continue (but without personal liability of 

  
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the Non-Recourse Persons) until fully paid, discharged, observed or performed, (b) constitute a waiver, release or discharge of any lien or security interest purported to be created pursuant
to the Security Documents (or otherwise impair the ability of any Secured Party to realize or foreclose upon any Collateral), (c) limit or restrict the right of the First Lien Collateral Agent or any other Secured Party (or any assignee,
beneficiary or successor to any of them) to name the Company, each other Obligor or any other Person as a defendant in any action or suit for a judicial foreclosure or for the exercise of any other remedy under or with respect to any Financing
Document, or for injunction or specific performance, so long as no judgment in the nature of a deficiency judgment shall be enforced against any Non-Recourse Person, (d) release any Non-Recourse Person from liability (to the extent it would
otherwise be liable) for its own fraudulent actions or willful misconduct, or (e) limit the right of any Secured Party to name any Non-Recourse Person as a party to any action to the extent necessary to enforce this Agreement, any other
Financing Document or any Lien or security interest in the Collateral, so long as no judgment in the nature of a deficiency judgment shall be enforced against any Non-Recourse Person. 

* * * * * 

  
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 If you are in agreement with the foregoing, please sign the form of agreement on a
counterpart of this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Obligors. 
  

			
	Very truly yours,
	
	 GSRP PORTFOLIO II LLC,
 as the
Company

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP PORTFOLIO II HOLDCO LLC,
 as
Holdings

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP BOND 2 HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP CHAMBERS HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 
			
	 GSRP GREAT JONES 2 HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP HDS TEB HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP KENMARE HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP KING HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 
			
	 GSRP LAFAYETTE HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP SPRUCE HOLDCO LLC,

as a Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

			
	 GSRP PARK 2 HOLDCO LLC,
 as a
Guarantor

		
	By:	 	/s/ Jon Yoder
	Name:	 	Jon Yoder
	Title:	 	Authorized Person

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	 MUFG Union Bank, N.A.,
 as Notes
Agent

		
	By:	 	/s/ Timothy P. Miller
	Name:	 	Timothy P. Miller
	Title:	 	Vice President

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	 MUFG Union Bank, N.A.,
 as First
Lien Collateral Agent

		
	By:	 	/s/ Timothy P. Miller
	Name:	 	Timothy P. Miller
	Title:	 	Vice President

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

			
	 MUFG Bank, Ltd.,
 as Intercreditor
Agent

		
	By:	 	/s/ Lawrence Blat
	Name:	 	Lawrence Blat
	Title:	 	Authorized Signatory

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 TRANSAMERICA LIFE INSURANCE COMPANY

 BY: AEGON USA Investment Management, LLC, its investment manager 
  

			
	By:	 	/s/ Josh Prieskorn
	Name:	 	Josh Prieskorn
	Title:	 	Vice President

 TRANSAMERICA LIFE (BERMUDA) LTD 

BY: AEGON USA Investment Management, LLC, its investment manager 
  

			
	By:	 	/s/ Josh Prieskorn
	Name:	 	Josh Prieskorn
	Title:	 	Vice President

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 AMERICAN GENERAL LIFE INSURANCE
COMPANY 
 THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK 

THE VARIABLE ANNUITY LIFE INSURANCE COMPANY 
 By: AIG Asset
Management (U.S.), LLC, as Investment Adviser 
  

			
	By:	 	/s/ Andrew M. Bouffard
	Name:	 	Andrew M. Bouffard
	Title:	 	Vice President

  

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to 
 as of the date hereof. 

INITIAL PURCHASERS: 
  

			
	EQUITABLE FINANCIAL LIFE INSURANCE COMPANY
		
	By:	 	/s/ Amy Judd
	Name:	 	Amy Judd
	Title:	 	Investment Officer

  

			
	EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA
		
	By:	 	/s/ Amy Judd
	Name:	 	Amy Judd
	Title:	 	Investment Officer

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to 
 as of the date hereof. 

INITIAL PURCHASERS: 
  

			
	THE CANADA LIFE ASSURANCE COMPANY
		
	By:	 	/s/ Jason Ward
	Name:	 	Jason Ward
	Title:	 	Authorized Signatory

  

			
		
	By:	 	/s/ Gaurav Mittal
	Name:	 	Gaurav Mittal
	Title:	 	Authorized Signatory

  

			
	THE CANADA LIFE INSURANCE COMPANY OF CANADA
		
	By:	 	/s/ Jason Ward
	Name:	 	Jason Ward
	Title:	 	Authorized Signatory

  

			
		
	By:	 	/s/ Gaurav Mittal
	Name:	 	Gaurav Mittal
	Title:	 	Authorized Signatory

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY 

			
		
	By:	 	/s/ Ward Argust
	Name:	 	Ward Argust
	Title:	 	Assistant Vice President, Investments

 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY 

By: Great-West Capital Management, LLC, as Investment Manager 

			
		
	By:	 	/s/ Ward Argust
	Name:	 	Ward Argust
	Title:	 	Authorized Signatory

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 ILLINOIS MUTUAL LIFE INSURANCE
COMPANY 
 By: Conning, Inc., as Investment Manager 

			
		
	By:	 	/s/ John Petchler
	Name:	 	John Petchler
	Title:	 	Director

 KENTUCKY EMPLOYERS’ MUTUAL INSURANCE AUTHORITY 

By: Conning, Inc., as Investment Manager 

			
		
	By:	 	/s/ John Petchler
	Name:	 	John Petchler
	Title:	 	Director

 PEKIN LIFE INSURANCE COMPANY 

By: Conning, Inc., as Investment Manager 

			
		
	By:	 	/s/ John Petchler
	Name:	 	John Petchler
	Title:	 	Director

 PINNACOL ASSURANCE 
 By: Conning,
Inc., as Investment Manager 

			
		
	By:	 	/s/ John Petchler
	Name:	 	John Petchler
	Title:	 	Director

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 PRIMERICA LIFE INSURANCE COMPANY

 By: Conning, Inc., as Investment Manager 

			
		
	By:	 	/s/ John Petchler
	Name:	 	John Petchler
	Title:	 	Director

 RLI INSURANCE COMPANY 
 By:
Conning, Inc., as Investment Manager 

			
		
	By:	 	/s/ John Petchler
	Name:	 	John Petchler
	Title:	 	Director

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 

JOHN HANCOCK LIFE INSURANCE COMPANY (USA) 

			
		
	By:	 	/s/ Mariana Primera
	Name:	 	Mariana Primera
	Title:	 	Director

 JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK 

			
		
	By:	 	/s/ Mariana Primera
	Name:	 	Mariana Primera
	Title:	 	Director

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 

MANULIFE (INTERNATIONAL) LIMITED 

			
		
	By:	 	/s/ Elton Shum
	Name:	 	Elton Shum
	Title:	 	Managing Director, Portfolio Management, Asia, General Account Investments

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 

MANULIFE (SINGAPORE) PTE. LTD. 

			
		
	By:	 	/s/ Mike Tsai
	Name:	 	Mike Tsai
	Title:	 	 Co-Head of Investments,

Manulife General Account Investments (Singapore) Pte. Ltd.

as investment manager of
 Manulife (Singapore) Pte.
Ltd.

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 METROPOLITAN TOWER LIFE INSURANCE
COMPANY 
 By: MetLife Investment Management, LLC, Its Investment Manager 

METLIFE INSURANCE K.K. 
 By: MetLife Investment Management, LLC,
its investment manager 

			
		
	By:	 	/s/ John Wills
	Name:	 	John Wills
	Title:	 	Authorized Signatory

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 HANSAfreeInvest SILC 2 

By: HANSAfreeInvest, its fund 
 By: SIGNAL IDUNA Asset Management
GmbH, its portfolio manager 

									
					
	By:	 	/s/ Dr. Peter Andres	 		 	By:	 	/s/ Christian Middelberg
	Name:	 	Dr. Peter Andres	 		 	Name:	 	Christian Middelberg
	Title:	 	CEO	 		 	Title:	 	Authorized Officer

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 NASSAU LIFE INSURANCE
COMPANY 
 By: Nassau Asset Management LLC 
 Its: Investment
Manager 

			
		
	By:	 	/s/ David E. Czerniecki

			
	Name:	 	David E. Czerniecki
	Title:	 	Chief Investment Officer

 NASSAU LIFE AND ANNUITY COMPANY 

By: Nassau Asset Management LLC 
 Its: Investment Manager 

			
		
	By:	 	/s/ David E. Czerniecki

			
	Name:	 	David E. Czerniecki
	Title:	 	Chief Investment Officer

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 

AMERICAN UNITED LIFE INSURANCE COMPANY 

			
		
	By:	 	/s/ David M. Weisenburger
	Name:	 	David M. Weisenburger
	Title:	 	VP, Fixed Income Securities

  

			
	THE STATE LIFE INSURANCE COMPANY
	By:	 	American United Life Insurance Company
	Its:	 	Agent

  

			
	By:	 	/s/ David M. Weisenburger
	Name:	 	David M. Weisenburger
	Title:	 	VP, Fixed Income Securities

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
  

			
	PACIFIC LIFE INSURANCE COMPANY
		
	By:	 	/s/ Jason Todd
	Name:	 	Jason T. Todd
	Title:	 	Assistant Vice President

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

 

					
	INITIAL PURCHASERS:	 	
		
	GIBRALTAR UNIVERSAL LIFE REINSURANCE COMPANY	 	
		
	By: PGIM, Inc., as investment manager	 	
			
	By:	 	/s/ Ingrida Soldatova	 	 
		 	Vice President	 	  
 

		
	PAR U HARTFORD LIFE INSURANCE COMFORT TRUST	 	
		
	By: Prudential Arizona Reinsurance Universal Company, as Grantor	 	
		
	By: PGIM, Inc., as investment manager	 	
			
	By:	 	/s/ Ingrida Soldatova	 	 
		 	Vice President	 	  
 

		
	PRUDENTIAL ARIZONA REINSURANCE UNIVERSAL COMPANY	 	
		
	By: PGIM, Inc., as investment manager	 	
			
	By:	 	/s/ Ingrida Soldatova	 	 
		 	Vice President	 	  
 

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof 

 

					
	 INITIAL PURCHASERS:
  
	 	
	PRUDENTIAL UNIVERSAL REINSURANCE COMPANY	 	
		
	By: PGIM, Inc., as investment manager	 	
		
	By:	 	/s/ Ingrida Soldatova
		 	Vice President	 	  
 

		
	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA	 	
		
	By:PGIM, Inc., as investment manager	 	
		
	By:	 	/s/ Ingrida Soldatova
		 	Vice President	 	  
 

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
  

			
	LIFE INSURANCE COMPANY OF THE SOUTHWEST
		
	By:	 	/s/ Paul Koenig
	Name:	 	Paul Koenig
	Title:	 	Head of Portfolio Management National Life Group

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 

SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY 

			
		
	By:	 	/s/ David Divine
	Name:	 	David Divine
	Title:	 	Director, Securities Management

  
 [Signature Page to
Note Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
 SUN LIFE ASSURANCE COMPANY OF
CANADA, acting through its U.S. Branch 

			
		
	By:	 	/s/ Andrew Kleeman
	Name:	 	Andrew Kleeman
	Title:	 	Senior Managing Director

  

			
	By:	 	/s/ Art Baril
	Name:	 	Art Baril
	Title:	 	Senior Director

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 This Agreement is hereby 

accepted and agreed to as 
 of the date hereof. 

INITIAL PURCHASERS: 
  

			
	SUN LIFE HONG KONG LIMITED
		
	By:	 	/s/ Shiuan Ting vanVuuren

			
	Name:	 	Shiuan Ting vanVuuren
	Title:	 	Chief Investment Officer

  
 [Signature Page to Note
Purchase Agreement (GSRP Portfolio II LLC)] 

 EXHIBIT A 

DEFINED TERMS 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 

“Additional Section 8.2 Acceptance Deadline Date” is defined in Section 8.2(f). 

“Additional Senior Notes” is defined in Section 1.1. 

“Affiliate” means, at any time, and with respect to any Person, (a) any other Person who, directly or indirectly, is in
control of, or controlled by, or is under common control with, such Person or (b) any other Person who is a director, officer or employee (i) of such Person, (ii) of any subsidiary or parent company of such Person or (iii) of any
Person described in subclause (a) above. For purposes of this definition, control of a Person shall mean the power, direct or indirect, (x) to vote more than 50% of the securities having ordinary voting power for the election of directors
of any such Person or (y) to otherwise direct or cause the direction of the management and policies of such Person whether by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a
reference to an Affiliate of the Company. 
 “Agreement” means this Note Purchase Agreement, including all Schedules
attached to this Agreement. 
 “Annual Operating Budget” means a consolidated annual operating budget for the Company and
its Subsidiaries. 
 “Anti-Corruption Laws” means any law or regulation regarding bribery or any other corrupt activity,
including the U.S. Foreign Corrupt Practices Act. 
 “Anti-Money Laundering Laws” means any law or regulation in a U.S.
jurisdiction, or any non-U.S. jurisdiction to which the Company or any Guarantor is subject, regarding money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes, including the Currency and Foreign
Transactions Reporting Act of 1970 (otherwise known as the Bank Secrecy Act) and the USA PATRIOT Act. 
 “Applicable Aggregate
Prepayment Amount” is defined in Section 8.2(f). 
 “Applicable Law” means any constitution, statute, law,
rule, regulation, ordinance, judgment, order, decree or Governmental Authorization, or any published directive or requirement which has the force of law, or other governmental restriction which has the force of law, or any determination by, or
interpretation of any of the foregoing by, any judicial or taxing authority, applicable to and/or binding on a given Person, as the context may require, whether in effect as of the date of the Closing or thereafter and, in each case, as amended
(including all Environmental Laws and any of the foregoing pertaining to land use or zoning restrictions). 
 “Applicable Prepayment
Date” is defined in Section 8.2(f). 

  
 A-1 

 “Applicable Rating Agency” means the Rating Agency that has assigned the
Senior Notes a Credit Rating. 
 “Authorized Denominations” is defined in Section 8.3. 

“Authorized Officer” means (a) with respect to any Obligor, any authorized signatory of the Manager and (b) with
respect to any Person (including any Obligor), the chief executive officer, president, chief financial officer, general counsel, principal accounting officer, treasurer, assistant treasurer or any vice president of such Person, or the equivalent
position of such Person provided pursuant to the applicable Organizational Documents, or such other officer or representative (or individual holding a designated authorized office) specifically authorized by such Person’s managing member, board
of directors, management committee or equivalent governing body. 
 “Base Case Projections” is defined in
Section 4.1(r). 
 “Blocked Person” means (a) a Person whose name appears on the list of Specially Designated
Nationals and Blocked Persons published by OFAC, (b) a Person, entity, organization, country, or regime that is blocked or otherwise a target of comprehensive sanctions that have been imposed under Economic Sanctions Laws, (c) a Canada
Blocked Person or (d) a Person that is a department or instrumentality of, or is otherwise beneficially owned by or controlled by or acting on behalf of, directly or indirectly, any Person, entity, organization, country or regime described in
clause (a), (b) or (c). 
 “Brown University Project” means the approximately 50.2 MW solar project owned by GSRP
Amsterdam LLC and its subsidiaries located in Washington County, Rhode Island. 
 “Business Day” means any day other than a
Saturday, a Sunday or a day on which commercial banks in New York, New York are required or authorized to be closed. 
 “Buyout
Reserve Account” is defined in the Depositary Agreement. 
 “Buyout Reserve Letter of Credit” is defined in the
Depositary Agreement. 
 “Called Principal” is defined in Section 8.7. 

“Canada Blocked Person” means (a) a “terrorist group” as defined for the purposes of Part II.1 of the Criminal
Code (Canada), as amended or (b) a Person identified in or pursuant to (i) Part II.1 of the Criminal Code (Canada), as amended or (ii) the Proceeds of Crime (Money Laundering) and Terrorist Finance Act, as amended or (iii) the
Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law), as amended or (iv) regulations or orders promulgated pursuant to the Special Economic Measures Act (Canada), as amended, the United Nations Act (Canada), as amended,
or the Freezing Assets of Corrupt Foreign Officials Act (Canada), as amended, in any case pursuant to this clause (b) as a Person in respect of whose property or benefit a holder of Notes would be prohibited from entering into or facilitating a
related financial transaction. 

  
 A-2 

 “Cancelled Project” means: (a) any Construction Project for which the
Company or any Subsidiary has determined not to proceed with development, construction or operation, including, for the avoidance of doubt, if such Construction Project is Disposed of pursuant to a Required Sale or Terminated PPA Sale or
(b) any Construction Project which does not reach its applicable commercial operation milestone before the specified outside date in its Power Purchase Agreement (giving effect to the payment of liquidated damages and amendments and waivers
thereunder, and unless a replacement Power Purchase Agreement consistent with the debt sizing criteria on which such Project is financed has been executed and is in full force and effect). 

“Capital Expenditures” means, for any period, (a) the additions to property, plant and equipment and other capital
expenditures of the Company and its consolidated Subsidiaries that are (or should be) set forth in a consolidated statement of cash flows of the Company for such period prepared in accordance with GAAP and (b) obligations under Capital Leases
or Synthetic Leases incurred by the Company and its consolidated Subsidiaries during such period. 
 “Capital Lease” means,
at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP. 

“Cash Flow Available for Debt Service” means, with respect to any period, an amount equal to (a) the amount of Revenue
deposited (or, with respect to any future period, reasonably projected in good faith, on the basis of assumptions substantially consistent with the Base Case Projections or otherwise reasonable at the time, to be deposited) into the Revenue Account
during such period minus (b) all amounts paid (or, with respect to any future period, reasonably projected in good faith, on the basis of assumptions substantially consistent with the Base Case Projections or otherwise reasonable at the
time, to be paid) during such period pursuant to Section 3.1(b)(i) and Section 3.1(b)(ii) of the Depositary Agreement. 

“Cash Grant” means a grant provided for in Section 1603 of Division B of the Recovery Act with respect to the Project
Companies’ investment in the construction of the Project. 
 “Cash Grant Projects” means the Projects set forth on
Schedule A-6. 
 “Cash Grant Terms and Conditions” means the “Payments for Specified Energy Property in Lieu of Tax
Credits under the American Recovery and Reinvestment Act of 2009 – Terms and Conditions” issued by the Treasury, as amended or supplemented. 

“Change of Control” means an event or series of events by which: 

(a) the Company ceases to be actively managed by Manager or a Qualified Replacement Manager; or 

(b) GSRP or a Qualified Owner shall cease, directly or indirectly, to own and control legally and beneficially all of the Equity Interests in
the Company. 

  
 A-3 

 “Chevron BESS Project” means the battery energy storage system owned by
Solar Star Lost Hills, LLC located in Kern County, California, which for the avoidance of doubt shall not include any related solar project related to such battery energy storage system. 

“Chevron Solar Star Lost Hills” means Solar Star Lost Hills, LLC, the project company owning the solar project located in
located in Kern County, California. 
 “Closing” is defined in Section 3. 

“Code” means the Internal Revenue Code of 1986 and the rules and regulations promulgated thereunder from time to time. 

“Collateral” is defined in the Intercreditor Agreement. 

“Company” is defined in the first paragraph of this Agreement. 

“Condemnation” means any taking, seizure, condemnation, confiscation or requisition, including severance damage, by eminent
domain or by inverse condemnation or for any public or quasi-public use under any Applicable Law. 
 “Confidential
Information” is defined in Section 21. 
 “Construction Project” means the High Desert Project, the Brown
University Project and the Chevron BESS Project, in each case until such Project reaches its applicable commercial operation milestone under its Power Purchase Agreement, at which time it shall cease to be a Construction Project. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
 “Controlled
Entity” means any Subsidiary of Holdings. 
 “Credit Rating” means, with respect to (a) a Person, the rating
assigned by a Rating Agency to the senior long-term unsecured debt obligations of such Person or, if such Person does not have senior unsecured long-term debt that is rated by a Rating Agency, the rating assigned by a Rating Agency as the corporate
credit rating or issuer rating of such Person (in each case not supported by any third party credit enhancement) and (b) any Securities, the rating assigned by a Rating Agency to such Securities. In the event two Rating Agencies have assigned
such Person a Credit Rating, the applicable Credit Rating shall be the lower of the two and, in the event more than two Rating Agencies have assigned such Person a Credit Rating, the applicable Credit Rating shall be the second highest of the
ratings. 
 “Debt Service” is defined in the Depositary Agreement. 

  
 A-4 

 “Debt Service Coverage Ratio” means, for each Rolling Period, the ratio of:
(a) Cash Flow Available for Debt Service during such Rolling Period to (b) Debt Service during such Rolling Period, in each case, as reasonably determined by the Company and in any case including applicable scheduled Debt Service at the
time of such calculation. Notwithstanding the foregoing, for purposes of calculating the Debt Service Coverage Ratio for any Rolling Periods that end prior to the twelfth (12th) month anniversary of the date of Closing, the Debt Service
Coverage Ratio (v) for the quarter ended December 31, 2020 shall be deemed to be 1.45:1.0, (w) for the quarter ended March 31, 2021 shall be deemed to be 1.45:1.0, (x) for the quarter ended June 30, 2021 shall be deemed
to be 1.45:1.0, (y) for the quarter ended September 30, 2021 shall be deemed to be 1.45:1.0 and (z) for any quarter ending prior to the twelfth (12th) month anniversary of the date of Closing shall be calculated using the
weighted average of (i) any deemed Debt Service Coverage Ratio in the preceding clauses (v) through (y) included in such Rolling Period and (ii) the actual Debt Service Coverage Ratio for any other completed fiscal quarters
included in such Rolling Period. 
 “Debt Service Reserve Account” is defined in the Depositary Agreement. 

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of
notice or both, become an Event of Default. 
 “Default Rate” mean, with respect to any Series of Notes, that rate of
interest per annum that is 2.00% above the rate of interest stated in clause (a) of the first paragraph of the Notes of such Series. 

“Depositary Accounts” is defined in the Depositary Agreement. 

“Depositary Agreement” means that certain Depositary Agreement, dated as of the date hereof, among the Company, the LC
Facility Agent, the First Lien Collateral Agent, the Depositary Bank and each other Person party thereto from time to time. 

“Depositary Bank” means MUFG Union Bank, N.A., in its capacity as Depositary Bank under the Depositary Agreement. 

“Discounted Value” is defined in Section 8.7. 

“Discretionary Capital Expenditures” is defined in Section 10.9(b). 

“Disposition” or “Dispose” means the sale, assignment (other than an assignment for security), transfer,
license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment (other than an assignment for
security), transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Distribution Conditions” is defined in Section 10.7. 

“Distribution Reserve Account” is defined in the Depositary Agreement. 

“Dollars” or “$” means lawful money of the United States. 

  
 A-5 

 “Economic Sanctions Laws” means those laws, executive orders, enabling
legislation or regulations administered and enforced by the United States, the European Union, the United Nations, Canada or any other governmental body with relevant jurisdiction pursuant to which economic sanctions have been imposed on any Person,
entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act, and OFAC regulations. 

“Emergency Capital Expenditures” means those capital expenditures reasonably believed by the Company in its good faith
judgment to be required to be expended in order to prevent or mitigate an emergency situation involving endangerment of life, human health, safety or the environment or damage to property. 

“Environmental Laws” means any and all federal, state, local, and foreign statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of Hazardous Materials into the environment. 

“EPC Contract” means, with respect to any Construction Project, the primary engineering, procurement and construction
contract, balance of plant contract, or other similar construction contract entered into between the applicable Project Company and an EPC Contractor for the construction of such Construction Project. 

“EPC Contractor” means, with respect to any Construction Project, any contractor or supplier with respect to the
construction, installation or supply arrangements for such Construction Project listed on Schedule A-5. 
 “Equity
Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of
shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or
options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein). 

“ERISA” means the Employee Retirement Income Security Act of 1974 and the rules and regulations promulgated thereunder from
time to time in effect. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) that is treated as a
single employer together with any Obligor under section 414 of the Code. 
 “Event of Default” is defined in
Section 11. 
 “Event of Loss” means any loss of, destruction of, or damage to any asset or property of any Obligor or
any Subsidiary thereof. 

  
 A-6 

 “EWG” means an “exempt wholesale generator” as defined in
Section 1262(6) of PUHCA and the FERC’s regulations at 18 C.F.R. § 366.1. 
 “Existing Project Financing
Documents” means the financing documents to which one or more Subsidiaries of the Company are a party as of the date of Closing, which are identified on Schedule A-4. 

“FATCA” means (a) sections 1471 through 1474 of the Code (or any amended or successor version), together with any
current or future regulations or official interpretations thereof, (b) any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement between the United States and any other jurisdiction, which (in either
case) facilitates the implementation of the foregoing clause (a), and (c) any agreements entered into pursuant to section 1471(b)(1) of the Code. 

“Federal Energy Regulatory Authorizations, Exemptions, and Waivers” means MBR Authority under the FPA, status as a QF under
PURPA, status as an EWG under PUHCA, and the PUHCA Exemption or Waiver. 
 “FERC” means the Federal Energy Regulatory
Commission and its successors. 
 “Financing Documents” means the Note Documents and all documents entered into in
connection with the LC Facility. 
 “First Lien Collateral Agent” is defined in the first paragraph of this Agreement. 

“First Lien Obligations” is defined in the Intercreditor Agreement. 

“First Lien Pledge and Security Agreement” means the First Lien Pledge and Security Agreement, dated as of the date hereof,
by and between the Company, Holdings, each other Obligor, GSRP HDS TEB Blocker LLC, GSRP MT Solar II Blocker LLC, GSRP ST Holdco Corp LLC and the First Lien Collateral Agent. 

“First Lien Secured Parties” is defined in the Intercreditor Agreement. 

“First Lien Security Documents” means the Depositary Agreement, the First Lien Pledge and Security Agreement, and each of the
other agreements, instruments or documents that creates or purports to create a Lien in favor of the First Lien Collateral Agent for the benefit of the First Lien Secured Parties. 

“Fitch” means Fitch Ratings, Inc. 

“FPA” means the Federal Power Act, as amended, and FERC’s implementing regulations related thereto. 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States. 

  
 A-7 

 “Governmental Authority” means 

(a) the government of 

(i) the United States or any state or other political subdivision thereof, or 

(ii) any other jurisdiction in which any Obligor or any Subsidiary thereof conducts all or any part of its business, or which
asserts jurisdiction over any properties of any Obligor or any such Subsidiary, or 
 (iii) for purposes of
Section 5.14(b) only, any other jurisdiction in which the Company or any of its Controlled Entities conducts all or any part of its business, or which asserts jurisdiction over any properties of the Company or any of its Controlled Entities, or

 (b) any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such
government. 
 “Governmental Authorization” means any permit, license, authorization, plan, directive, consent order,
approval, registration, exemption or consent decree of or from any Governmental Authority. 
 “Governmental Official” means
any governmental official or employee, employee of any government-owned or government-controlled entity, political party, any official of a political party, candidate for political office, official of any public international organization or anyone
else acting in an official capacity. 
 “GSRP” means Goldman Sachs Renewable Power LLC, a limited liability company
organized under the laws of the State of Delaware. 
 “Guaranteed Obligations” is defined in Section 13.1. 

“Guarantors” is defined in the first paragraph of this Agreement, together with any additional Persons who become Guarantors
pursuant to Section 13.6. 
 “Guaranty” means, with respect to any Person, any obligation (except the endorsement in
the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or
indirectly, including obligations incurred through an agreement, contingent or otherwise, by such Person: 
 (a) to purchase such
indebtedness or obligation or any property constituting security therefor; 
 (b) to advance or supply funds (i) for the purchase or
payment of such indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or
payment of such indebtedness or obligation; 

  
 A-8 

 (c) to lease properties or to purchase properties or services primarily for the purpose of
assuring the owner of such indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 

(d) otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 

In any computation of the indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of
such Guaranty shall be assumed to be direct obligations of such obligor. 
 “Hazardous Materials” means any and all
pollutants, toxic or hazardous wastes or other substances that pose a hazard to health and safety, the removal of which is required, or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation,
transfer, use, disposal, release, discharge, spillage, seepage or filtration of which is restricted, prohibited or penalized, by any applicable Environmental Law, including asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls,
petroleum, petroleum products, lead-based paint, radon gas or similar restricted, prohibited or penalized substances. 
 “High
Desert Project” means the approximately 130.3 MW solar project owned by HDSI LLC located in San Bernardino County, California. 

“High Desert Reserve Account” has the meaning given in the Depositary Agreement. 

“holder” means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the
Company pursuant to Section 14.1, provided, however, that if such Person is a nominee, then for the purposes of Sections 7, 12, 18.2 and 19 and any related definitions in this Exhibit A, “holder” shall mean the beneficial owner
of such Note whose name and address appears in such register. 
 “Holdings” is defined in the first paragraph of this
Agreement. 
 “Indebtedness” with respect to any Person means, at any time, without duplication, 

(a) its liabilities for borrowed money and its redemption obligations in respect of mandatorily redeemable Preferred Stock; 

(b) its liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary
course of business but including all liabilities created or arising under any conditional sale or other title retention agreement with respect to any such property); 

(c) (i) all liabilities appearing on its balance sheet in accordance with GAAP in respect of Capital Leases and (ii) all
liabilities which would appear on its balance sheet in accordance with GAAP in respect of Synthetic Leases assuming such Synthetic Leases were accounted for as Capital Leases; 

  
 A-9 

 (d) all liabilities for borrowed money secured by any Lien with respect to any property
owned by such Person (whether or not it has assumed or otherwise become liable for such liabilities); 
 (e) all its liabilities in respect
of letters of credit or instruments serving a similar function issued or accepted for its account by banks and other financial institutions (whether or not representing obligations for borrowed money); 

(f) the aggregate Swap Termination Value of all Swap Contracts of such Person; and 

(g) any Guaranty of such Person with respect to liabilities of a type described in any of clauses (a) through (f) hereof. 

Indebtedness of any Person shall include all obligations of such Person of the character described in clauses (a) through (g) to the extent such
Person remains legally liable in respect thereof notwithstanding that any such obligation is deemed to be extinguished under GAAP. For the avoidance of doubt, Permitted Equity Commitments, Permitted Project Undertakings and Project Obligations shall
not constitute Indebtedness. 
 “Independent Engineer” means Enertis Solar Inc. or such other Person as the Required
Holders may engage on behalf of the holders of the Notes with the consent of the Company (not to be unreasonably withheld or delayed) to act as Independent Engineer for purposes of this Agreement and the other Note Documents. 

“Independent Engineer Report” means the report titled, “Independent Engineering Report on the Greenbond II
Portfolio,” prepared by the Independent Engineer dated July 8, 2021. 
 “INHAM Exemption” is defined in
Section 6.2(e). 
 “Initial Notes” is defined in Section 1.2. 

“Initial Purchaser” and “Initial Purchasers” have the meanings assigned to such term in the recital of
parties to this Agreement. 
 “Initial Section 8.2 Acceptance Deadline Date” is defined in Section 8.2(f). 

“Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with one or
more of its affiliates) at least $1,000,000 of the aggregate principal amount of the Notes of any Series then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any
investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note. 

  
 A-10 

 “Insurance Consultant” means Moore McNeil, LLC or such other independent
insurance consultant of recognized expertise selected by the Required Holders with the consent of the Company (such consent not to be unreasonably withheld or delayed), to act as Insurance Consultant in connection with the transactions contemplated
by the Note Documents. 
 “Intercreditor Agent” means MUFG Bank, Ltd., in its capacity as Intercreditor Agent under the
Intercreditor Agreement, together with its successors and assigns in such capacity. 
 “Intercreditor Agreement” means that
certain Collateral Agency and Intercreditor Agreement, dated as of the date hereof, among the LC Facility Agent, the First Lien Collateral Agent, the Intercreditor Agent, the Purchasers from time to time party thereto, each Obligor and the other
Persons from time to time party thereto. 
 “Investment” means, as to any Person, any direct or indirect acquisition or
investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guaranty or assumption of debt of, or purchase or other acquisition
of any other debt or interest in, another Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of the business
of, such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment, net of any dividends, interest,
distributions, return of capital and other amounts received or realized in respect of such Investment, up to the original amount of such Investment. For the avoidance of doubt, neither any Permitted Project Undertakings nor any payment pursuant to
and in accordance with the terms of Project Obligations in effect on the date of the Closing or entered into after the Closing not in contravention of this Agreement shall be deemed to constitute an Investment. 

“IRS” is defined in Section 15.3. 

“Joinder Agreement” means a joinder agreement substantially in the form of Exhibit I. 

“Knowledge” means, with respect to (a) any Obligor or Subsidiary thereof, the actual knowledge of the Persons set forth
on Schedule A-1 after due inquiry of his or her direct reports within the Manager who are reasonably believed to have the relevant information; and (b) any other Person, the actual knowledge of such Person (and “Know” and
“Knowingly” shall be construed accordingly). 
 “LC Facility” means the letter of credit facility
contemplated by the LC Facility Credit Agreement. 
 “LC Facility Agent” is defined in the Depositary Agreement. 

“LC Facility Credit Agreement” is defined in the Depositary Agreement. 

“LC Loans” is defined in the Depositary Agreement. 

“Letters of Credit” is defined in the Depositary Agreement. 

  
 A-11 

 “Lien” means, with respect to any Person, any mortgage, lien, pledge,
charge, security interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect
to any property or asset of such Person. 
 “Limited Guarantee” means the Limited Guarantee, dated as of the date of the
Closing, by Parent in favor of the First Lien Collateral Agent. 
 “Loss Proceeds” means (a) proceeds of any property
insurance policy covering the Company, any of its Subsidiaries or any Project, (b) all proceeds from any Condemnation of all or any part of a Project or any other asset of any Obligor or any Subsidiary thereof and (c) all other proceeds,
compensation, awards, damages and other payments or relief received by the Company or any of its Subsidiaries in respect of an Event of Loss or a Termination Event (other than, in each case, business interruption insurance proceeds, other payments
received for interruption of operations during the applicable period and the proceeds of workers’ compensation, employees’ liability and automobile liability insurance). 

“M&T Bank” means (a) M&T Bank Corporation, (b) M&T Community & Environmental Development LLC,
a wholly-owned indirect subsidiary of M&T Bank Corporation, or (c) any other wholly-owned direct or indirect subsidiary of M&T Bank Corporation; provided that in the case of (b) or (c), M&T Bank Corporation provides a
guaranty of such subsidiary’s funding obligations under the applicable Tax Equity Documents. 
 “Make-Whole Amount” is
defined in Section 8.7. 
 “Management Services Agreement” means the Management Services Agreement, by and between
GSRP and Manager, dated as of February 9, 2018. 
 “Manager” means Goldman Sachs Asset Management, L.P., a limited
partnership organized under the laws of the State of Delaware. 
 “Market Consultant” means Leidos Engineering, LLC. 

“Market Consultant Report” means the report titled, “INDEPENDENT MARKET CONSULTANT’S REPORT: GOLDMAN SACHS
RENEWABLE POWER LLC – GSRP II SOLAR PORTFOLIO” prepared by the Market Consultant dated July 22, 2021. 

“Material” means, in respect of the applicable affected Projects (or Subsidiaries owning such Projects), that, based on the
Cash Flow Available for Debt Service for the most recently completed Rolling Period for which financial statements have been delivered in accordance with Section 7.1, such affected Projects, in the aggregate, generated 10% or more of the
aggregate Cash Flow Available for Debt Service over such Rolling Period. 
 “Material Adverse Effect” means a material
adverse effect on (a) the business, operations, affairs, financial condition, assets, liabilities or properties of the Obligors and their respective Subsidiaries, taken as a whole, (b) the ability of the Obligors, taken as a whole, to
perform their material obligations under the Financing Documents, (c) the validity or enforceability of the Financing Documents, (d) the ability of the holders of the Notes or the other Secured Parties to enforce any of their material
rights or remedies under the Financing Documents or (e) the validity, priority or perfection of the security interests of the First Lien Collateral Agent in the Collateral. 

  
 A-12 

 “Material Indebtedness” means Indebtedness for borrowed money in an
aggregate outstanding principal amount of at least $72,000,000 (or its equivalent in the relevant currency of payment). 
 “Maturity
Date” means (a) in the case of the Initial Notes, June 29, 2046, and (b) in the case of any Series of Additional Senior Notes or Subordinate Notes, the date set forth in the Supplemental NPA pursuant to which such Series of
Notes is issued. 
 “MBR Authority” means an order by FERC pursuant to Section 205 of the FPA (a) authorizing a
Project Company to sell energy, capacity and specified ancillary services at market-based rates, (b) accepting a tariff for filing that provides for such sales, and (c) granting such Project Company waivers of regulations and blanket
authorizations customarily granted by FERC to an entity that sells wholesale power and ancillary services at market-based rates, including blanket approval for the issuance of securities and assumption of liabilities under Section 204 of the
FPA. 
 “Memorandum” is defined in Section 5.3. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3)
of ERISA). 
 “NAIC” means the National Association of Insurance Commissioners. 

“NAIC Annual Statement” is defined in Section 6.2(a). 

“Necessary Project Approvals” is defined in Section 5.6. 

“Net Cash Proceeds” means, as applicable, (a) with respect to any Event of Loss, Termination Event or Condemnation, the
aggregate amount of Loss Proceeds actually received by or on behalf of any Obligor in connection with such Event of Loss, Termination Event or Condemnation, and (b) with respect to any Permitted Disposition or any other Disposition of assets
that are subject to mandatory prepayment pursuant to Section 8.2, the proceeds actually received by any Obligor in respect of such Disposition, in cash or cash equivalents, excluding any Loss Proceeds (to the extent included with clause
(a) above), minus in the case of both clauses (a) and (b) (without duplication), the sum of all fees and out of-pocket expenses paid by any of the Obligors or any of their Subsidiaries in connection with such event, and the amount of
all Taxes paid (or reasonably estimated to be payable) by or to any of the Obligors or their respective direct or indirect owners, or any of their respective Subsidiaries as a result of such event. 

“Non-Obligor Subsidiary” means any Subsidiary of the Company that is not an Obligor. 

  
 A-13 

 “Non-Recourse Persons” is defined in Section 23.10. 

“Non-U.S. Plan” means any plan, fund or other similar program that (a) is established or maintained outside the United
States by any Obligor or any Subsidiary thereof primarily for the benefit of employees of any Obligor or one or more of its Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in,
retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and (b) is not subject to ERISA or the Code. 

“Note Documents” means this Agreement, the Intercreditor Agreement, the Security Documents, the Paying Agent Agreement, the
Notes, the Limited Guarantee, each Supplemental NPA and any supplement thereto entered into in connection therewith. 

“Notes” means the Senior Notes and the Subordinate Notes, such term to include any such Notes issued in substitution therefor
pursuant to Section 14. 
 “Notes Agent” is defined in Section 15.6. 

“Obligors” is defined in the first paragraph of this Agreement. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“Officer’s Certificate” means a certificate of an Authorized Officer or of any officer of the Company, a Guarantor or
the Manager, whose responsibilities extend to the subject matter of such certificate. 
 “Operating Statements” is defined
in Section 7.1(i). 
 “Organizational Documents” means, with respect to any Person, the by-laws, partnership
agreement, limited liability company agreement, operating agreement, management agreement or other similar or equivalent organizational, charter or constitutional agreement or arrangement. 

“Parent” means Goldman Sachs Renewable Power Operating Company LLC, a limited liability company organized under the laws of
the State of Delaware. 
 “Paying Agent Agreement” means that certain Registrar and Paying Agent Agreement, dated as of the
date of the Closing, by and between the Company and the Notes Agent. 
 “PBGC” means the Pension Benefit Guaranty
Corporation referred to and defined in ERISA. 
 “Permitted Asset Sale” is defined in Section 10.2(b). 

“Permitted Dispositions” is defined in Section 10.2(b). 

  
 A-14 

 “Permitted Equity Commitments” means obligations of any Obligor or any of
their Subsidiaries to make any payment in respect of any Equity Interest in any Subsidiary (and any guarantee by any Obligor or any of their Subsidiaries of such obligations) as long as each such payment in respect of such Equity Interest
constitutes an Investment permitted by Section 10.8. 
 “Permitted Investments” means: (a) marketable direct
obligations issued by, or unconditionally guaranteed by, the United States government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition;
(b) certificates of deposit, time deposits, deposit accounts, eurodollar time deposits or overnight bank deposits having maturities of one year or less from the date of acquisition issued by the Depositary Bank or any commercial bank organized
under the laws of the United States or any state thereof having combined capital and surplus of not less than $500,000,000 and rated at least “AA-” by S&P, “Aa3” by Moody’s or AA- by Fitch; (c) commercial paper of
an issuer rated at least “A-1” by S&P, “P-1” by Moody’s or F1+ by Fitch, or carrying an equivalent rating by a nationally recognized rating agency, if all three of the named rating agencies cease publishing ratings of
commercial paper issuers generally, and maturing within one year from the date of acquisition; (d) repurchase obligations of any commercial bank satisfying the requirements of clause (b) above, having a term of not more than 30 days, with
respect to securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of
the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory, the securities of which state, commonwealth, territory, political subdivision or taxing authority (as the case may be) are rated at
least “AA-” by S&P, “Aa3” by Moody’s or AA- by Fitch; (f) securities with maturities of six (6) months or less from the date of acquisition backed by standby letters of credit issued by any commercial bank
satisfying the requirements of clause (b) above; (g) money market mutual or similar funds that invest exclusively in assets satisfying the requirements of clauses (a) through (f) above; or (h) money market funds that
(x) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, (y) are rated “AAA” by S&P, “Aaa” by Moody’s or AAA by Fitch and (z) have portfolio assets of at least
$5,000,000,000 (subject to a maximum of 5% of fund capital). 
 “Permitted Liens” is defined in Section 10.5. 

“Permitted Project Undertakings” means guaranties by or obligations of any Obligor or any of their Subsidiaries in respect of
Project Obligations. 
 “Permitted Senior Secured Indebtedness” means the LC Facility and Additional Permitted Senior
Secured Indebtedness (as defined in the Intercreditor Agreement). 
 “Permitted Tax Distributions” means cash dividends or
other distributions declared and paid for the sole purpose of funding the payments by the direct or indirect owners of the Company of the Taxes owed with respect to their respective allocable shares of the taxable net income for such period of any
of the Company and any of its Subsidiaries, provided that such dividends or other distributions shall not exceed, in any taxable period, an amount equal to (a) the product of (i) the highest marginal combined income Tax rates then in
effect applicable to a corporation resident in Wilmington, Delaware (taking into account the deductibility of state and local Taxes in computing U.S. Federal income Taxes) and (ii) net taxable income of the Company and such

  
 A-15 

 
Subsidiaries for such taxable period reduced by any net losses or other tax attributes (other than tax credits) of any of the Company or any such Subsidiary carried over from prior periods to the
extent not previously taken into account in computing net taxable income under this clause (ii), reduced, but not below zero, by (b) any tax credits of or allocable to the Company and such Subsidiaries for such taxable period and any such tax
credits carried over from prior taxable periods to the extent not previously applied to reduce the amount of Permitted Tax Distributions. 

“Permitted Tax Equity Transaction” is defined in Section 10.2(b). 

“Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated
organization, business entity or Governmental Authority. 
 “Placement Agents” means each of Goldman Sachs & Co.
LLC, HSBC Securities (USA) Inc., MUFG Securities Americas Inc., PNC Capital Markets LLC, Truist Securities, Inc., CIBC World Markets Corp. and KeyBanc Capital Markets Inc. 

“Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is
or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the
Company or any ERISA Affiliate may have any liability. 
 “Portfolio Company” means each of the entities designated as a
“Portfolio Company” on Schedule 5.4. 
 “Portfolio Holding Company” means each of the entities designated as a
“Portfolio Holding Company” on Schedule 5.4. 
 “Power Purchase Agreements” means each power purchase agreement
or similar customer agreement entered into in respect of any Project, of which, with respect to a Project that has a nameplate-rated capacity equal to or exceeding five MW as of the date of Closing, is identified on Schedule A-3. 

“Power Purchaser” means the respective offtakers under the Power Purchase Agreements. 

“Pre-Ownership Period” means, with respect to any Subsidiary of the Company or any Project, the period prior to the date the
Company or any of its Affiliates acquired such Subsidiary or Project. 
 “Preferred Stock” means any class of capital stock
(or similar Equity Interests) of a Person that is preferred over any other class of capital stock (or similar Equity Interests) of such Person as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such
Person. 
 “Project” means each of the projects described on Schedule A-2, together with any renewable electric generation
or battery storage projects acquired in accordance with this Agreement; provided that any Project that is Disposed of in accordance with this Agreement or any Cancelled Project shall no longer be a “Project”. 

  
 A-16 

 “Project Company” means each of the entities designated as a “Project
Company” on Schedule 5.4, and any future Subsidiary of the Company that is designated as a “Project Company” pursuant to updated schedules delivered to the Purchasers in accordance with Section 4.2(a) or Section 7.2(b). 

“Project Financing Documents” means the Existing Project Financing Documents and any financing documents entered into after
the date of the Closing in connection with a refinancing, increase, extension or amendment of any Existing Project Financing Documents in accordance with Section 10.15. 

“Project Documents” means the agreements to which a Project Company or a Non-Obligor Subsidiary is a party relating to the
ownership, development, construction, operation or maintenance of the Projects (other than the Financing Documents, the Project Financing Documents and the Tax Equity Documents). 

“Project Obligations” means, as to any Obligor or any of its Subsidiaries, any Contractual Obligation of such Person under
any Project Document, Project Financing Documents or any Tax Equity Document. 
 “property” or
“properties” means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible, choate or inchoate. 

“Prudent Industry Practice” means those practices, methods, equipment, specifications and standards of safety and
performance, as the same may change from time to time, as are commonly used by owners and operators of solar electric generation projects in the United States of a type and size similar to the applicable Project as good, safe and prudent practices
in connection with the operation, maintenance, repair, reconstruction and use of electrical and other equipment, facilities and improvements of such Project, with commensurate standards of safety, performance, dependability, efficiency and economy.
“Prudent Industry Practices” does not necessarily mean the best possible or any particular practice, method, equipment specification or standard in all cases, but is instead intended to encompass a broad range of acceptable practices,
methods, equipment specifications and standards. 
 “PTE” is defined in Section 6.2(a). 

“PUHCA” means the Public Utility Holding Company Act of 2005, as amended, and all rules and regulations adopted thereunder.

 “PUHCA Exemption or Waiver” has the meaning given to such term in Section 5.17(e). 

“Purchaser” or “Purchasers” is defined in the recital of the parties to this Agreement. 

“Purchaser Schedule” means the Purchaser Schedule to this Agreement listing the Purchasers of the Notes and including their
notice and payment information. 

  
 A-17 

 “PURPA” means the Public Utility Regulatory Policies Act of 1978, as
amended, and all rules and regulations adopted thereunder. 
 “QPAM Exemption” is defined in Section 6.2(d). 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning of
such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Qualified Owner” means any Person that has a
tangible net worth of at least $500,000,000 (or has a Credit Rating in respect of its senior unsecured and unguaranteed indebtedness or a corporate family Credit Rating of at least “BBB-” by S&P or Fitch or “Baa3” by
Moody’s); provided, however, that the requirements above shall only be deemed satisfied if prior to any such Person becoming an owner, directly or indirectly, of any equity interests in the Company, the Rating Condition has been
satisfied. 
 “Qualified Replacement Manager” means any Person that (a) is (or has an Affiliate that is) the majority
owner or operator of one or more solar electric generating facilities that, at the time of determination, are in commercial operation and that have an aggregate generating capacity of at least 300 megawatts (which shall include GSRP and Parent) or
(b) has contracted with one or more Persons to perform management, operation and maintenance services for the Projects, which are (or have an Affiliate that is), in each case, the majority owner or operator of one or more solar electric
generating facilities that, at the time of determination, are in commercial operation and that have an aggregate generating capacity of at least 300 megawatts; provided, however, that the requirements above shall only be deemed
satisfied if prior to any such Person replacing the Manager, the Rating Condition has been satisfied; provided further, that such prior satisfaction of the Rating Condition shall not be required if such Person is GSRP, a successor entity to
GSRP through merger, other corporate combination transaction or otherwise, Parent or an Affiliate of GSRP (or such successor Person) or Parent and is managed by at least a majority of the individuals set forth on Schedule A-8 hereto. For purposes of
calculating percentage ownership by a Person of facilities co-owned with Tax Equity Investors, the Person who is the managing member with respect to or otherwise owns the controlling interest in such facilities shall be deemed the majority owner
thereof. 
 “Qualifying Facility” or “QF” means a “qualifying small power production facility”
as defined in Section 3(17)(C) of the FPA, 16 U.S.C. § 796(17)(C), and the implementing regulations of the FERC at 18 C.F.R. §§ 292.101(b)(1) and 292.203(a). 

“Quarterly Payment Date” is defined in the Depositary Agreement. 

“Rating Agency” means (a) S&P, Fitch or Moody’s or (b) any other rating agency that, at the time of its
designation hereunder, is designated as a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission and has had its ratings accepted by the National Association of Insurance Commissioners in determining its
equivalent rating designations for reporting and reserving purposes and that is acceptable to the Required Holders (acting reasonably). For the avoidance of doubt, Egan-Jones Ratings shall not be a Rating Agency. 

  
 A-18 

 “Rating Condition” means that the holders have received a copy of written
evidence from the Applicable Rating Agency that, after giving effect to the action contemplated, (a) the Credit Rating of the Senior Notes will be at least BBB- (if the Applicable Rating Agency is Fitch or S&P), Baa3 (if the Applicable
Rating Agency is Moody’s) or the equivalent if the Applicable Rating Agency is any other Rating Agency and (b) there will not result any downgrade, qualification or withdrawal of any Credit Rating of the Senior Notes from that in effect
immediately prior to such action. 
 “Reimbursement Obligations” is defined in the Depositary Agreement. 

“Reinvestment Yield” is defined in Section 8.7. 

“Related Fund” means, with respect to any holder of any Note, any fund or entity that (a) invests in Securities or bank
loans, and (b) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor. 

“Remaining Average Life” is defined in Section 8.7. 

“Remaining Scheduled Payments” is defined in Section 8.7. 

“Replacement LC Facility” is defined in the Intercreditor Agreement. 

“Reported” is defined in Section 8.7. 

“Required Capital Expenditure” means (a) Emergency Capital Expenditures and (b) capital expenditures incurred for
the purpose of permitting the Obligors and the Project Companies to comply with Applicable Law, regulatory requirements, Governmental Authorizations or the Project Documents or otherwise deemed reasonably prudent by the Company. 

“Required Holders” means, at any time (a) if Senior Notes are outstanding at such time, the holders of more than 50% in
principal amount of the Senior Notes at such time outstanding, and (b) if no Senior Notes are outstanding at such time, the holders of more than 50% in principal amount of the Subordinate Notes, if any, at such time outstanding (exclusive of,
in each of clause (a) and (b), Notes then owned by any Obligor or any of their Affiliates), and “Required Holders of Subordinate Notes” means, at any time, the holders of more than 50% in principal amount of the Subordinate
Notes at such time outstanding, exclusive of Subordinate Notes then owned by any Obligor or any of their Affiliates. 
 “Required
Sale” is defined in Section 10.2(b). 
 “Required Secured Parties” is defined in the Intercreditor Agreement.

 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with
respect to any capital stock or other Equity Interest of any Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity 

  
 A-19 

 
Interest, or on account of any return of capital to any Person’s stockholders, partners or members (or the equivalent of any thereof); provided that, for the avoidance of doubt, none
of the following shall be considered a Restricted Payment: (a) reimbursement by the Company or any of its Subsidiaries to any Affiliate for payments made by such Affiliate on behalf of the Company or any of its Subsidiaries with respect to
(i) collateral or financial assurance requirements of contracts (including reimbursement of drawn amounts under letters of credit or similar credit support) or (ii) repairs, replacements or restoration paid for and/or undertaken by such
Affiliate in advance of receipt of any applicable insurance proceeds, (b) the payment of Sponsor Expenses (as defined in the Depositary Agreement) and Management Fees (as defined in the Depositary Agreement), in each case, in the amount
permitted under Section 3.1(b)(i) of the Depositary Agreement and (c) the distribution made by the Company set forth in the funds flow memorandum delivered on the date of the Closing pursuant to Section 4.1(j). 

“Revenue” is defined in the Depositary Agreement. 

“Revenue Account” is defined in the Depositary Agreement. 

“Rolling Period” means a period of four consecutive fiscal quarters; provided, however, if fewer than four
complete consecutive fiscal quarters remain between any date of measurement and the latest Maturity Date of the then outstanding Notes, then such period shall be deemed to be the period of complete consecutive fiscal quarters between such date of
measurement and such Maturity Date. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc. 
 “Safekeeping Account” means account number in the name of HDSI, LLC at U.S. Bank National
Association (including any replacements or renumberings thereof), which has an account balance that does not exceed $12,850,000 as of the date of Closing and which account is pledged as collateral to secure obligations under the Continuing Reimbursement Agreement for Letters of Credit described in Schedule 5.15. 

“SEC” means the Securities and Exchange Commission of the United States. 

“Second Lien Security Documents” is defined in the Intercreditor Agreement. 

“Secured Obligations” is defined in the Intercreditor Agreement. 

“Secured Parties” is defined in the Intercreditor Agreement. 

“Securities” or “Security” shall have the meaning specified in section 2(a)(1) of the Securities Act. 

“Securities Act” means the Securities Act of 1933 and the rules and regulations promulgated thereunder from time to time in
effect. 

  
 A-20 

 “Security Documents” means, collectively, the First Lien Security Documents
and, from and after the execution thereof, the Second Lien Security Documents. 
 “Senior Notes” is defined in
Section 1.1. 
 “Senior Notes Offer” is defined in Section 1.3(f). 

“Series” is defined in Section 1.1. 

“Settlement Date” is defined in Section 8.7. 

“Solvent” means, with respect to the Obligors, taken as a whole, that (a) the fair value of the assets of the Obligors,
at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Obligors, (b) the present fair saleable value of the property of the Obligors will be greater than the amount that will be
required to pay the probable liability of the Obligors on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured, (c) the Obligors will be able to pay
their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured (after giving effect to any Guaranty and credit support), and (d) the Obligors will not have unreasonably
small capital with which to conduct the business in which they are engaged as such business is now conducted and is proposed to be conducted following the date of the Closing. For purposes of this definition, (i) “able to pay their debts
and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured (after giving effect to any Guaranty and credit support)” means that Obligors will be able to generate enough cash from
operations, asset dispositions or refinancings, or a combination thereof, to meet their obligations as they become due, and (ii) the amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the
facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Source” is defined in Section 6.2. 

“State Electric Utility Regulation” has the meaning given to such term in Section 5.17(f). 

“State Sanctions List” means a list that is adopted by any state Governmental Authority within the United States of America
pertaining to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions imposed under Economic Sanctions Laws. 

“Subordinate Note Event of Default” means the occurrence of any of the following events: (a) the Company fails to make
payment of any interest in respect of the Subordinate Notes upon the date when such interest becomes due and payable, and such failure continues uncured for five Business Days; (b) the Company fails to make payment of any principal in respect
of the Subordinate Notes upon the date when such principal becomes due and payable; or (c) the occurrence of any of the Events of Default described in Section 11(h) or (i). 

“Subordinate Notes” is defined in Section 1.1. 

  
 A-21 

 “Subordination Agreement” is defined in Section 1.4. 

“Subsidiary” means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries or such
first Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions)
of such second Person, and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries
(unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries); provided that, notwithstanding the foregoing, each Project Company
and each Tax Equity Partnership shall be deemed Subsidiaries of the Obligors for all purposes hereunder. 
 “Substitute
Purchaser” is defined in Section 22. 
 “Super-Majority Holders” means at any time on or after the Closing,
the holders of at least 66-2/3% in principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Company or any of its Affiliates). 

“Supplemental NPA” is defined in Section 1.3. 

“Supplemental Buyout Reserve Account” is defined in the Depositary Agreement. 

“Supplemental Reserve Account” is defined in the Depositary Agreement. 

“SVO” means the Securities Valuation Office of the NAIC. 

“Swap Contract” means (a) any and all interest rate swap transactions, basis swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward foreign exchange transactions,
cap transactions, floor transactions, currency options, spot contracts or any other similar transactions or any of the foregoing (including any options to enter into any of the foregoing), and (b) any and all transactions of any kind, and the
related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc. or any International Foreign Exchange Master Agreement. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amounts(s) determined as the mark-to-market values(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by
any recognized dealer in such Swap Contracts. 

  
 A-22 

 “Synthetic Lease” means, at any time, any lease (including leases that may
be terminated by the lessee at any time) of any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax
purposes, other than any such lease under which such Person is the lessor. 
 “Tax” means any present or future tax, levy,
impost, duty, deduction, withholding (including backup withholding), assessment, fee or other similar charge imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Tax Equity Buyout Exercise” is defined in Section 10.8(b). 

“Tax Equity Documents” means the collective reference to the equity capital contribution agreements, membership interest
purchase agreements, operating agreements, administrative services agreements, master leases, subleases, lease supplements, pass-through agreements, agreements with respect to any Cash Grant, guaranties and other tax equity investment documents, in
each case, in respect of any Tax Equity Partnership, any Tax Equity Lessee or any Tax Equity Lessor, including any such documents entered into in connection with a Permitted Tax Equity Transaction. 

“Tax Equity Guarantee”means any guarantee provided by any Obligor or any Affiliate or a Subsidiary thereof for the benefit of
a Tax Equity Investor, including any such guarantee entered into in connection with a Permitted Tax Equity Transaction. 
 “Tax
Equity Guarantor” each Obligor, or Affiliate or Subsidiary thereof, that is providing a Tax Equity Guarantee. 
 “Tax
Equity Investor” means any Person other than any Obligor or any Affiliate or Subsidiary thereof that is party to a Tax Equity Document. 

“Tax Equity Lessee” means each of the entities designated as a “Tax Equity Lessee” on Schedule 5.4, and any future
entity that is designated as a “Tax Equity Lessee” pursuant to updated schedules delivered to the Purchasers in accordance with Section 4.2(a) or Section 7.2(b). 

“Tax Equity Lessor” means each of the entities designated as a “Tax Equity Lessor” on Schedule 5.4, and any future
entity that is designated as a “Tax Equity Lessor” pursuant to updated schedules delivered to the Purchasers in accordance with Section 4.2(a) or Section 7.2(b). 

“Tax Equity Partnerships” means each of the entities designated as a “Tax Equity Partnership” on Schedule 5.4, and
any future entity that is designated as a “Tax Equity Partnership” pursuant to updated schedules delivered to the Purchasers in accordance with Section 4.2(a) or Section 7.2(b). 

“Tax-Exempt Person” means: 

(a) a Person that is a “tax-exempt entity” (except to the extent (i) the exception under Section 168(h)(1)(D) or
Section 168(h)(2)(B) of the Code applies with respect to the income from the applicable Projects for that Person) or a “tax-exempt controlled entity” (other than a “tax-exempt controlled entity” that has made the election
provided by Section 168(h)(6)(F)(ii) of the Code) within the meaning of Section 168(h) of the Code; 

  
 A-23 

 (b) a Person described in Section 50(b)(3) or 50(b)(4) of the Code; 

(c) a Person that is described in Treasury Regulations Section 1.48-4(a)(1)(v); or 

(d) a Person that is for U.S. federal income tax purposes an entity disregarded as separate from its owner or a partnership a direct or
indirect owner of a beneficial interest in which is a “tax-exempt entity” or a “tax-exempt controlled entity” described in clause (a) or a Person that is described in Treasury Regulations Section 1.48-4(a)(1)(v), unless
such “tax-exempt entity,” “tax-exempt controlled entity” or Person that is described in Treasury Regulations Section 1.48-4(a)(1)(v) holds such interest for U.S. federal income tax purposes through a taxable C Corporation
(as defined in the Code) that either (i) is not a “tax-exempt controlled entity” within the meaning of Section 168(h) of the Code or (ii) is not treated as a “tax-exempt controlled entity” under
Section 168(h)(6)(F) of the Code because it has made an election under Section 168(h)(6)(F)(ii) of the Code. 
 “Tax
Return” means any and all returns, reports, information returns, declarations, statements, certificates, bills, schedules, documents, claims for refund, or other written information of or with respect to any Tax which is supplied to or
required to be supplied to any Governmental Authority, including any and all attachments, amendments and supplements thereto. 

“Terminated PPA Sale” is defined in Section 10.2(b). 

“Termination Event” means the termination of any Power Purchase Agreement prior to its scheduled expiry. 

“Treasury Regulations” means the regulations promulgated under the Code. 

“UCC” means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable
jurisdiction. 
 “United States” or “U.S.” means the United States of America. 

“United States Person” has the meaning set forth in Section 7701(a)(30) of the Code. 

“USA PATRIOT Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001 and the rules and regulations promulgated thereunder from time to time in effect. 

“Weighted Average Life to Maturity” means, when applied to any Notes at any date, the number of years obtained by dividing:
(a) the sum of the products obtained by multiplying (i) the amount of each then remaining payments of principal, including payment at final maturity, in respect of the applicable Notes, by (ii) the number of years (calculated to the
nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then outstanding principal amount of such Notes. 

  
 A-24 

 EXHIBIT B-1 

to Note Purchase Agreement 

[FORM OF] 3.10% SENIOR NOTE DUE JUNE 29, 2046 

THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR STATE SECURITIES
LAWS, BUT HAVE BEEN ISSUED OR REGISTERED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. NO DISTRIBUTION, SALE, OFFER FOR SALE, TRANSFER, DELIVERY, PLEDGE, OR OTHER DISPOSITION OF THESE SECURITIES MAY BE EFFECTED EXCEPT IN
COMPLIANCE WITH THE ACT, ANY APPLICABLE STATE LAWS AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION AND STATE AGENCIES PROMULGATED THEREUNDER. 

GSRP PORTFOLIO II LLC 

3.10% Senior Note Due June 29, 2046 
  

			
	No. [__]	  	October 1, 2021
	$[            ]	  	PPN 36260# AA3

 For VALUE RECEIVED, the undersigned, GSRP PORTFOLIO II LLC (herein called the “Company”), a
limited liability company organized and existing under the laws of the State of Delaware, hereby promises to pay to [                    ], or
its registered assigns, the principal sum of [                    ] Dollars (or so much thereof as shall not have been repaid or prepaid) on
June 29, 2046 (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.10% per annum from the date hereof, payable
quarterly, on the 31st day of March, the 30th day of June, the 30th day of September and the 31st day of December in each year, commencing with December 31, 2021, and ending on the Maturity Date, until the principal hereof shall have become due
and payable, and (b) to the extent permitted by law, (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate
per annum from time to time equal to the Default Rate, payable quarterly as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America at the principal office of the Notes Agent or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below. 

  
 B-1-1 

 This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Note Purchase Agreement, dated as of October 1, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Company, the Guarantors party
thereto, GSRP Portfolio II HoldCo LLC, a Delaware limited liability company, MUFG Union Bank, N.A., as First Lien Collateral Agent, MUFG Bank, Ltd., as Intercreditor Agent, MUFG Union Bank, N.A., as Notes Agent, and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 21 of the Note Purchase Agreement and
(ii) made the representations set forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase
Agreement. 
 This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration
of transfer accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the
name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the
Company will not be affected by any notice to the contrary. The “Record Date” for purposes of all transfers and exchanges of this Note shall be ten (10) Business Days prior to the date on which any payment of principal or
interest is due hereunder, and all such payments of principal and interest shall accordingly be made to the record holder of this Note as of the Record Date. 

The Company will make required repayments, prepayments or repurchases of principal on the dates and in the amounts specified in the Note
Purchase Agreement. This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise. 

If an Event of Default occurs and is continuing, and subject to the terms of the Note Purchase Agreement and the Intercreditor Agreement, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note is secured by the Collateral pursuant to the First Lien Security Documents and is subject to the Intercreditor Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

[Signature page follows.] 

  
 B-1-2 

 
			
	GSRP PORTFOLIO II LLC
		
	By:	 	 
	Name:	 	
	Title:	 	Authorized Person

  
 [Signature Page to GSRP
II Senior Note] 

 EXHIBIT B-2 

to Note Purchase Agreement 

FORM OF ADDITIONAL SENIOR NOTE 

[            ]% SENIOR NOTE DUE
[            ] 
 THE SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR STATE SECURITIES LAWS, BUT HAVE BEEN ISSUED OR REGISTERED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. NO DISTRIBUTION, SALE, OFFER FOR SALE, TRANSFER,
DELIVERY, PLEDGE, OR OTHER DISPOSITION OF THESE SECURITIES MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH THE ACT, ANY APPLICABLE STATE LAWS AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION AND STATE AGENCIES PROMULGATED
THEREUNDER. 
 GSRP PORTFOLIO II LLC 
  

			
	[            ]% Senior Note Due [            ]
	No. [__]	  	[            ], 20[__]
	$[            ]	  	PPN [            ]

 For VALUE RECEIVED, the undersigned, GSRP PORTFOLIO II LLC (herein called the “Company”), a
limited liability company organized and existing under the laws of the State of Delaware, hereby promises to pay to [                    ], or
its registered assigns, the principal sum of [                    ] Dollars (or so much thereof as shall not have been repaid or prepaid) on
[            ] (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the
rate of [            ]% per annum from the date hereof, payable quarterly on the 31st day of March, the 30th day of June, the 30th day of September and the 31st day of December in
each year, commencing with [            ], and ending on the Maturity Date, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law,
(x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the Default Rate,
payable quarterly as aforesaid (or, at the option of the registered holder hereof, on demand). 
 Payments of principal of, interest on and
any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at the principal office of the Notes Agent or at such other place as the Company shall have designated by written notice to the holder of
this Note as provided in the Note Purchase Agreement referred to below. 

  
 B-2-1 

 This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Note Purchase Agreement, dated as of October 1, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Company, the Guarantors party
thereto, GSRP Portfolio II HoldCo LLC, a Delaware limited liability company, MUFG Union Bank, N.A., as First Lien Collateral Agent, MUFG Bank, Ltd., as Intercreditor Agent, MUFG Union Bank, N.A., as Notes Agent, and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 21 of the Note Purchase Agreement and
(ii) made the representations set forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase
Agreement. 
 This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration
of transfer accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the
name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the
Company will not be affected by any notice to the contrary. The “Record Date” for purposes of all transfers and exchanges of this Note shall be ten (10) Business Days prior to the date on which any payment of principal or interest is
due hereunder, and all such payments of principal and interest shall accordingly be made to the record holder of this Note as of the Record Date. 

The Company will make required repayments, prepayments or repurchases of principal on the dates and in the amounts specified in the Note
Purchase Agreement. This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise. 

If an Event of Default occurs and is continuing, and subject to the terms of the Note Purchase Agreement and the Intercreditor Agreement, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note is secured by the Collateral pursuant to the First Lien Security Documents and is subject to the Intercreditor Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

[Signature page follows.] 

  
 B-2-2 

 
			
	GSRP PORTFOLIO II LLC
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-2-3 

 EXHIBIT B-3 

to Note Purchase Agreement 

FORM OF SUBORDINATE NOTE 

[            ]% SUBORDINATE NOTE DUE
[            ] 
 THE SECURITIES REPRESENTED BY THIS SUBORDINATE NOTE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR STATE SECURITIES LAWS, BUT HAVE BEEN ISSUED OR REGISTERED PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT. NO DISTRIBUTION, SALE, OFFER FOR
SALE, TRANSFER, DELIVERY, PLEDGE, OR OTHER DISPOSITION OF THESE SECURITIES MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH THE ACT, ANY APPLICABLE STATE LAWS AND THE RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION AND STATE AGENCIES
PROMULGATED THEREUNDER. 
 THIS SUBORDINATE NOTE IS SUBORDINATE TO THE SENIOR NOTES ON THE TERMS AND CONDITIONS SET FORTH IN THE NOTE PURCHASE
AGREEMENT. THE DESIGNATION, RIGHTS, PRIVILEGES, RESTRICTIONS, PREFERENCES AND OTHER TERMS AND PROVISIONS OF THIS SUBORDINATE NOTE REPRESENTED HEREBY SHALL IN ALL RESPECTS BE SUBJECT TO THE PROVISIONS OF THE NOTE PURCHASE AGREEMENT. 

[THIS INSTRUMENT AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATED IN THE MANNER AND TO THE EXTENT SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT
(AS AMENDED, RESTATED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME IN ACCORDANCE WITH THE TERMS THEREOF, THE “SUBORDINATION AGREEMENT”) DATED AS OF
            , 20            BY AND AMONG GSRP PORTFOLIO II LLC, A DELAWARE LIMITED LIABILITY COMPANY, GSRP
PORTFOLIO II HOLDCO LLC, A DELAWARE LIMITED LIABILITY COMPANY, CERTAIN OTHER SUBSIDIARIES OF THE COMPANY, AS GUARANTORS, MUFG UNION BANK, N.A., AS THE SENIOR AGENT (AS DEFINED THEREIN) FOR THE SENIOR CREDITORS (AS DEFINED THEREIN) AND THE
SUBORDINATE NOTEHOLDER REPRESENTATIVE (AS DEFINED THEREIN), TO THE PRIOR PAYMENT IN FULL (AS DEFINED THEREIN) OF THE SENIOR DEBT (AS DEFINED THEREIN), AND EACH HOLDER OF THIS INSTRUMENT, BY ITS ACCEPTANCE HEREOF, IRREVOCABLY AGREES TO BE BOUND BY
THE PROVISIONS OF THE SUBORDINATION AGREEMENT.]1 [NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THIS INSTRUMENT AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBJECT TO THE PROVISIONS OF THE COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT, DATED AS OF
[            ], 2021 (AS AMENDED, RESTATED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE “INTERCREDITOR AGREEMENT”), 

 
  

	1 	 Insert if Subordinate Notes are unsecured. 

  
 B-3-1 

 AMONG GSRP PORTFOLIO II LLC, GSRP PORTFOLIO II HOLDCO LLC, THE FIRST LIEN COLLATERAL AGENT (AS DEFINED
THEREIN), THE LC FACILITY AGENT (AS DEFINED THEREIN), THE NOTES AGENT (AS DEFINED THEREIN), ANY SECOND LIEN COLLATERAL AGENT (AS DEFINED THEREIN) WHO BECOMES PARTY THERETO, MUFG BANK, LTD., AS INTERCREDITOR AGENT, AND CERTAIN OTHER PERSONS PARTY OR
THAT MAY BECOME PARTY THERETO FROM TIME TO TIME. 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.]2 

 

			
	GSRP PORTFOLIO II LLC
	
	[            ]% Subordinate Note Due [            ]
	No. [__]	  	[            ], 20[__]
	$[            ]	  	PPN [            ]

 For VALUE RECEIVED, the undersigned, GSRP PORTFOLIO II LLC (herein called the
“Company”), a limited liability company organized and existing under the laws of the State of Delaware, hereby promises to pay to
[                    ], or its registered assigns, the principal sum of
[                    ] Dollars (or so much thereof as shall not have been repaid or prepaid) on
[            ] (the “Maturity Date”), with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the
rate of [            ]% per annum from the date hereof, payable [            ] on
[            ], commencing with [            ], and ending on the Maturity Date, until the principal hereof shall
have become due and payable, and (b) to the extent permitted by law, (x) on any overdue payment of interest and (y) during the continuance of an Event of Default, on such unpaid balance [and on any overdue payment of any Make-Whole
Amount], at a rate per annum from time to time equal to the Default Rate, payable [            ] as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of [principal of and interest on] [principal of, interest on and any Make-Whole Amount] with respect to this Subordinate Note are to
be made in lawful money of the United States of America at the principal office of the Notes Agent or at such other place as the Company shall have designated by written notice to the holder of this Subordinate Note as provided in the Note Purchase
Agreement referred to below. 
 This Subordinate Note is one of a series of Subordinate Notes (herein called the “Subordinate
Notes”) issued pursuant to the Note Purchase Agreement, dated as of October 1, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among the Company, the
Guarantors party thereto, GSRP Portfolio II HoldCo LLC, a Delaware limited liability company, MUFG Union Bank, N.A., as First Lien 
  

 

	2 	 Insert if Subordinate Notes are secured on a second lien basis. 

  
 B-3-2 

 Collateral Agent, MUFG Bank, Ltd., as Intercreditor Agent, MUFG Union Bank, N.A., as Notes Agent, and the
respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Subordinate Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 21 of the
Note Purchase Agreement and (ii) made the representations set forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Subordinate Note shall have the respective meanings ascribed to
such terms in the Note Purchase Agreement. 
 This Subordinate Note is a registered Subordinate Note and, as provided in the Note Purchase
Agreement, upon surrender of this Subordinate Note for registration of transfer accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new
Subordinate Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Subordinate Note is registered
as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. The “Record Date” for purposes of all transfers and exchanges of this Subordinate Note
shall be ten (10) Business Days prior to the date on which any payment of principal or interest is due hereunder, and all such payments of principal and interest shall accordingly be made to the record holder of this Subordinate Note as of the
Record Date. 
 This Subordinate Note is not prepayable or redeemable prior to the repayment in full of all Senior Notes at any time
outstanding except under certain circumstances provided for in the Note Purchase Agreement. 
 If an Event of Default occurs and is
continuing, and subject to the terms of the Note Purchase Agreement and the Intercreditor Agreement, the principal of this Subordinate Note may be declared or otherwise become due and payable in the manner, at the price [(including any applicable
Make-Whole Amount)] and with the effect provided in the Note Purchase Agreement. 
 [This Subordinate Note is secured by the Second Lien
Collateral pursuant to the Second Lien Security Documents and is subject to the Intercreditor Agreement.]3 
 This Subordinate Note shall
be construed and enforced in accordance with, and the rights of the Company and the holder of this Subordinate Note shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit
the application of the laws of a jurisdiction other than such State. 
 [Signature page follows.] 

 
  

	3	 Insert if Subordinate Notes are secured on a second lien basis 

  
 B-3-3 

 
			
	GSRP PORTFOLIO II LLC
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 B-3-4 

 EXHIBIT C 

to Note Purchase Agreement 

[Notwithstanding anything herein to the contrary, this instrument and the indebtedness evidenced hereby are subject to the provisions of the Collateral
Agency and Intercreditor Agreement, dated as of October 1, 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), by and among GSRP
Portfolio II LLC, a Delaware limited liability company, Holdings (as defined therein), the Grantors (as defined therein) party thereto from time to time, the First Lien Collateral Agent (as defined therein), the LC Facility Agent (as defined
therein), the Intercreditor Agent (as defined therein), the Notes Agent (as defined therein), each purchaser party thereto from time to time, and certain other persons party or that may become party thereto from time to time. 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.]1 

[This instrument and the indebtedness evidenced hereby are subordinated in the manner and to the extent set forth in that certain Subordination Agreement
dated as of             , 20            (as amended, restated, amended and restated, supplemented or otherwise
modified from time to time in accordance with the terms thereof, the “Subordination Agreement”), by and among GSRP Portfolio II LLC, a Delaware limited liability company, Holdings (as defined therein), the other
Obligors (as defined therein), MUFG Union Bank, N.A., as the First Lien Collateral Agent (as defined therein), the Second Lien Collateral Agent (as defined therein), the Subordinate Noteholder Representative (as defined therein), to the prior
Payment in Full (as defined therein) of the Senior Debt (as defined therein), and each holder of this instrument, by its acceptance hereof, irrevocably agrees to be bound by the provisions of the Subordination Agreement.]2 

 
  

 
 GSRP PORTFOLIO II
LLC 
 [NUMBER] SUPPLEMENTAL NOTE PURCHASE AGREEMENT

 Dated as of             ,
20             
  

	 	Re:	 $
                         % [Series            
][Additional Senior Notes][Subordinate Notes], 

due                    
    , 20 
  
  

 
  

 
  

 

	1 	 NTD: Insert if this Supplemental NPA is for the issuance of second lien secured Subordinate Notes.

	2 	 NTD: Insert if this Supplemental NPA is for the issuance of unsecured Subordinate Notes. 

  
 1 

 GSRP PORTFOLIO II LLC 

200 WEST STREET 

NEW YORK, NEW YORK 10282 

Dated as of 

            ,
20             
 To the Purchaser(s) listed in 

the attached Schedule A hereto 
 Ladies and Gentlemen: 

This [Number] Supplemental Note Purchase Agreement (this “Supplemental NPA”) is by and among GSRP Portfolio II LLC, a Delaware
limited liability company (the “Company”), GSRP Portfolio II HoldCo LLC, a Delaware limited liability company (“Holdings”), each Guarantor party hereto[, and] each of the purchasers under the caption
“PURCHASERS” on the signature pages hereof (the “Purchasers”) [and [            ], not in its individual capacity but solely as [Second Lien Collateral
Agent][Noteholder Representative]3. 
 Reference is hereby made to that certain Note
Purchase Agreement dated as of October 1, 2021 (the “Note Purchase Agreement”), among the Company, the other Obligors, Holdings, the Initial Purchasers, the Intercreditor Agent, the Notes Agent and the First Lien Collateral
Agent. All capitalized terms not otherwise defined herein shall have the same meaning as specified in the Note Purchase Agreement. Reference is further made to Section 1.3 of the Note Purchase Agreement which requires, prior to the delivery of
any [Additional Senior Notes][Subordinate Notes], the execution and delivery of a Supplemental NPA. 
 The Company hereby agrees with the
Purchaser(s) as follows: 
 1. The Company has authorized the issue and sale, subject to the terms and conditions of this Supplemental NPA,
of up to $[            ] aggregate principal amount of its [guaranteed/secured/unsecured]             % [Series
            ] [Additional Senior Notes][Subordinate Notes], due             ,
20            (the “Series             Notes”). The Series
             Notes shall constitute [Additional Senior Notes][Subordinate Notes] under the Note Purchase Agreement. The Series
            Notes, together with the Initial Notes initially issued pursuant to the Note Purchase Agreement [and [the Series
            Notes] issued pursuant to the [Number] Supplemental NPA dated [            ], respectively,] and
each series of [Additional Senior Notes][Subordinate Notes] which may from time to time hereafter be issued pursuant to the provisions of Section 1.3 of the Note Purchase Agreement, are collectively referred to as the “Notes”
(such term shall also include any such notes issued in substitution therefor pursuant to Section 14.2 of the Note Purchase Agreement). The Series             Notes shall be
substantially in the form set out in Exhibit B4 hereto, with such changes therefrom, if any, as may be approved by each Purchaser and the Company. 

 
  

 

	3 	 NTD: Insert if applicable. 

	4 	 NTD: Exhibit B to be substantially in the form of Exhibit B-2 of the Note Purchase Agreement for any Additional
Senior Notes and in the form of Exhibit B-3 of the Note Purchase Agreement for any Subordinate Notes. 

  
 2 

 2. Subject to the terms and conditions of this Supplemental NPA and the Note Purchase
Agreement, the Company will issue and sell to each Purchaser, and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Series
            Notes in the principal amount specified opposite such Purchaser’s name in Schedule A hereto at a price of [__]% of the principal amount thereof. The Purchasers’
obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or nonperformance of any obligation by any other Purchaser hereunder. 

3. The sale and purchase of the Series             Notes to be purchased by
each Purchaser shall occur at the offices of [Latham & Watkins LLP, 1271 Avenue of the Americas, New York, NY 10020] at 10:00 a.m. New York time, at a closing (the “Closing”)
on                         , 20        . At the Closing, the Company
will deliver to each Purchaser the Series             Notes to be purchased by such Purchaser in the form of a single Series
            Note (or such greater number of Series             Notes in denominations of at least $2,000,000 as
such Purchaser may request) dated the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds for the account of
the Company to the account specified in the funding instructions delivered to the Purchasers pursuant to Section 4(e) below. If, at the Closing, the Company shall fail to tender such Series
            Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to any
Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Supplemental NPA, without thereby waiving any rights such Purchaser may have by reason of such failure by the Company to tender
such Series             Notes or any of the conditions specified in Section 4 hereof or Section 4.2 of the Note Purchase Agreement not having been fulfilled to such
Purchaser’s satisfaction. 
 4. Each Purchaser’s obligation to purchase and pay for the Series
            Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the Closing, of the conditions set
forth in Section 1.3 and Section 4.2 of the Note Purchase Agreement with respect to the Series             Notes to be purchased at the Closing, and to the following
additional conditions: 
  

	 	(a)	 Sale of Other Notes. Contemporaneously with the Closing, the Company shall sell to each other Purchaser
and each other Purchaser shall purchase the Series             Notes to be purchased by it at the Closing as specified in Schedule A. 

 

	 	(b)	 Representations and Warranties. Except as supplemented, amended or superseded by the representations and
warranties of the Obligors set forth in Exhibit A hereto and in any schedule to the Note Purchase Agreement permitted to be updated in accordance with the terms of the Note Purchase Agreement, each of the representations and warranties of the
Obligors set forth in Section 5 of the Note 

  
 3 

 Purchase Agreement shall be true and correct as of the date of the Closing (except for
representations and warranties which are as of a specific date, which shall be true and correct as of such date) and the Company shall have delivered to each Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that
such condition has been fulfilled. 
  

	 	(c)	 [Purchase Permitted by Applicable Law. On the date of the Closing, such Purchaser’s purchase of
Series             Notes shall (i) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as
section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment, (ii) not violate any applicable law or regulation (including
Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (iii) not subject such Purchaser to any penalty or liability (other than any Tax liability) under or pursuant to any applicable law or regulation. If requested by
such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted.]5 

  

	 	(d)	 Payment of Fees; Taxes. Without limiting Section 16.1 of the Note Purchase Agreement or any other
expense reimbursement obligation under the Note Documents, the Company shall have paid on or before the Closing (i)6 the reasonable and documented fees, charges and disbursements of the Placement
Agents, the First Lien Collateral Agent, [the Second Lien Collateral Agent,] the Notes Agent, [the Noteholder Representative,] the Depositary Bank, the Intercreditor Agent, consultants to the First Lien Secured Parties and [Latham & Watkins
LLP], special counsel to the Purchasers and the other First Lien Secured Parties [and Second Lien Secured Parties], in each case, to the extent reflected in a statement of such Person rendered to the Company at least two Business Days prior to the
Closing, (ii) all recording, documentary, filing, intangible, stamp or other similar Taxes and other expenses related to such filings, registrations and recordings necessary for the consummation of the transactions contemplated by this
Supplemental NPA and the other Note Documents and (iii) all other fees and expenses then due and payable by the Obligors pursuant to the Financing Documents to the extent reflected in a statement of the applicable payee rendered to the Company
at least two Business Days prior to the date of the Closing. 

  

	 	(e)	 Funding Instructions. At least three Business Days prior to the date of the Closing, each Purchaser (or
its representative) shall have received written instructions signed by an Authorized Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and address of the transferee bank, (ii)
such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Series             Notes is to be deposited.

  
  

	5 	 NTD: Update as appropriate in the event of changes in law since Closing. 

	6 	 NTD: Revise clause as applicable. 

 

  
 4 

	 	(f)	 KYC and USA Patriot Act. To the extent requested by any Purchasers that do not hold any prior series of
Notes at least 10 Business Days prior to the date of the Closing, such Purchasers shall have received all documentation and other information with respect to the Obligors and their Subsidiaries required to allow such Purchaser to comply with
Applicable Law and related internal procedures relating to “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, which are applicable to the Purchasers. 

 

	 	(g)	 [Second Lien Security Documents. Such Purchaser, the First Lien Collateral Agent and the Second Lien
Collateral Agent shall have received certified, complete and correct copies of all of the Second Lien Security Documents (together with any amendments, supplements, schedules and exhibits thereto), duly executed and delivered by each Obligor party
thereto.]7 

  

	 	(h)	 [Security. Valid and perfected second priority security interests (subject only to Permitted Liens) in
the Collateral shall have been created in favor of the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties, in each case, in form and substance reasonably satisfactory to such Purchaser, and such Purchaser shall have
received evidence of the filing or registration of all appropriate documents and payment of all related fees and expenses in accordance with Applicable Law necessary for the creation and perfection of the Liens intended to be created by the Second
Lien Security Documents, all in form and substance reasonably satisfactory to such Purchaser.]8 

  

	 	(i)	 Opinion of Counsel. Such Purchaser shall have received an opinion from [Skadden, Arps, Slate,
Meagher & Flom LLP], special counsel for the Obligors, covering the authorization, execution and delivery [and customary UCC security interest matters] with respect to this Supplemental NPA [and the Second Lien Security Documents].]9 

  

	 	(j)	 [Insert any other applicable conditions precedent for the issuance of the Series
            Notes] 

 5. [Here insert special
provisions for Series             Notes including prepayment provisions applicable to Series             Notes
(including Make-Whole Amount) and any other provisions permitted by the Note Purchase Agreement (any of which may be set forth in an attachment hereto)]. 
  

 
  

	7 	 NTD: To be included in respect of the first issuance of second lien Subordinate Notes 

	8 	 NTD: To be included in respect of the first issuance of second lien Subordinate Notes 

	9 	 NTD: To be included in respect of the first issuance of second lien Subordinate Notes 

  
 5 

 6. [The Series
            Notes shall rank pari passu in right of payment with the Notes of each other Series of Senior Notes.]10 

7. [Each Purchaser represents and warrants that the representations and warranties set forth in Section 6 of the Note Purchase Agreement
are true and correct on the date hereof with respect to the purchase of the Series             Notes by such Purchaser.]11 

8. Each Obligor and each Purchaser agree to be bound by and comply with the terms and provisions of the Note Purchase Agreement as fully and
completely as if such Purchaser were an original signatory to the Note Purchase Agreement. 
 9. All references in the Note Purchase
Agreement and all other instruments, documents and agreements relating to, or entered into in connection with the foregoing documents and agreements, to the Note Purchase Agreement shall be deemed to refer to the Note Purchase Agreement, as
supplemented by this             Supplemental NPA. 
 10. Except as
expressly supplemented by this             Supplemental NPA, all terms and provisions of the Note Purchase Agreement remain unchanged and continue, unabated, in full force and effect
and each Obligor hereby reaffirms its obligations and liabilities under the Note Purchase Agreement. 
 11. [In order to bind all of the
Purchasers as a group hereunder, each Purchaser, by its execution hereof and/or acceptance of the Series         Notes, hereby designates and appoints
(a) [                    ], as noteholder representative in respect of the Series
            Notes (in such capacity, the “Noteholder Representative”), to act as its representative and attorney-in-fact under this Agreement and the Series
            Notes and each Purchaser hereby irrevocably authorizes the Noteholder Representative to take such action or to refrain from taking such action on its behalf under the
provisions of the Note Purchase Agreement, this Supplemental NPA, the Series             Notes and the Subordination Agreement and to exercise such powers as are set forth herein or
therein, together with such other powers as are reasonably incidental thereto. The Noteholder Representative agrees to make all such arrangements as are reasonably required to ensure each Purchaser shall promptly receive all notices, consents,
amendments, waivers and other writings, however evidenced, received or sent by such Noteholder Representative in connection with the Note Purchase Agreement, this Supplemental NPA, the Series
            Notes or the Subordination Agreement. The Noteholder Representative (a) is acting solely on behalf of Purchasers, with duties that are entirely administrative in
nature, (b) is not assuming any obligation under the Note Purchase Agreement, this Supplemental NPA, the Series             Notes or the Subordination Agreement other than as
expressly set forth herein and therein, or any role as agent, fiduciary or trustee of or for any Purchaser or any other Person and (c) shall have no implied functions, responsibilities, duties, obligations or other liabilities under the Note
Purchase Agreement, this Supplemental NPA, the Series             Notes or the Subordination Agreement, and each Purchaser hereby waives and agrees not to assert any claim against
Noteholder Representative based on the roles, duties and legal relationships expressly disclaimed in clauses (a) through (c) above. Noteholder Representative may perform any of its duties under the Note Purchase Agreement, this 

 
  

 

	10 	 NTD: Insert if this Supplemental NPA is for the issuance of Additional Senior Notes. 

	11 	 NTD: Update as appropriate in the event of changes in law since Closing. 

  
 6 

 Supplemental NPA, the Series
            Notes or the Subordination Agreement, by or through its agents, representatives or employees. Each Purchaser hereby irrevocably authorizes and directs the Noteholder
Representative to execute, deliver and perform the obligations of the Noteholder Representative under the Subordination Agreement and to take such action on behalf of the Purchaser under the Subordination Agreement as are expressly provided
therein.]12 
 12. [Each of the Purchasers hereby irrevocably designates and appoints
[                    ], as the second lien collateral agent (in such capacity, the “Second Lien Collateral Agent”) under this
Agreement, the Intercreditor Agreement and the other Second Lien Documents (as defined in the Intercreditor Agreement), and each of the Purchasers irrevocably authorizes and directs
[                    ], in the capacity of Second Lien Collateral Agent, and each of its successors and assigns in such capacity, to
(i) execute, deliver and perform the obligations, if any, of the Second Lien Collateral Agent under the Note Purchase Agreement, this Supplemental NPA, each Second Lien Security Document and each other applicable Financing Document,
(ii) take such action on its behalf under the provisions of the Note Purchase Agreement, this Supplemental NPA and the Second Lien Security Documents and (iii) exercise such powers and perform such duties as are expressly delegated to the
Second Lien Collateral Agent by the terms of the Note Purchase Agreement, this Supplemental NPA and the Second Lien Security Documents, together with such other powers as are reasonably incidental thereto. The Second Lien Collateral Agent hereby
agrees to act in its capacity as such upon the express conditions contained herein and the other Financing Documents, as applicable. Each Obligor hereby acknowledges the appointment of the Second Lien Collateral Agent pursuant to this Section
[12].]13 
 13. This Supplemental NPA shall be construed and enforced in accordance with, and the rights of the parties shall be governed
by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

14. Any provision of this Supplemental NPA that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or
render unenforceable such provision in any other jurisdiction. 
 15. All covenants and other agreements contained in this Supplemental NPA
by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Series
            Note) whether so expressed or not. 
 16. This Supplemental
NPA may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together
signed by all, of the parties hereto. Delivery of an executed counterpart of a signature page of this Supplemental NPA or any document or instrument delivered in connection herewith (other than any Series
            Note) by telecopy or “.pdf” shall be effective as delivery of a manually executed counterpart of this Supplemental NPA or such other document or instrument, as
applicable. 
  
  

	12 	 NTD: Insert if this Supplemental NPA is for the issuance of unsecured Subordinate Notes. 

	13 	 NTD: Insert if this Supplemental NPA is for the issuance of second lien secured Subordinate Notes.

  

  
 7 

 The execution hereof shall constitute a contract between the Company and the Purchaser(s)
for the uses and purposes hereinabove set forth. 
  

			
	GSRP PORTFOLIO II LLC
		
	By	 	 
		 	Name:                                     
                                         
     
		 	Title                                     
                                         
        

  

	
	[INSERT OTHER OBLIGORS]
	
	[INSERT SECOND LIEN COLLATERAL AGENT OR NOTEHOLDER REPRESENTATIVE AS APPLICABLE]

  

	
	 PURCHASERS:

	
	 [INSERT PURCHASER SIGNATURES]

  
 8 

 SCHEDULE A 

to Supplemental Note Purchase Agreement 

INFORMATION RELATING TO PURCHASERS 

 

			
	 	  	PRINCIPAL
	NAME AND ADDRESS OF PURCHASER	  	AMOUNT OF SERIES
		  	                        NOTES
		  	TO BE PURCHASED
	[NAME OF PURCHASER]	  	$
		
	(1)   All payments by wire transfer of immediately available funds
to:	  	 
		
	 with sufficient information to identify the source and application of such funds.
	  	
		
	 (2)   All notices of payments and written confirmations of such wire
transfers:
	  	
		
	 (3)   All other communications:
	  	

  
 Schedule A - 1 

 EXHIBIT A 

to Supplemental Note Purchase Agreement 

SUPPLEMENTAL
REPRESENTATIONS14 

Each Obligor represents and warrants to each Purchaser that, except as hereinafter set forth in this Exhibit A, each of the representations and warranties set
forth in Section 5 of the Note Purchase Agreement is true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by
materiality or Material Adverse Effect in the text thereof) as of the date hereof (or, if stated to have been made solely as of an earlier date, were true and correct as of such earlier date) with respect to the Series
            Notes with the same force and effect as if each reference to “Initial Notes” set forth therein was modified to refer to the “Series
            Notes,” each reference to “this Agreement” therein was modified to refer to “the Note Purchase Agreement as supplemented by this
            Supplemental NPA” and each reference to “the Purchasers” set forth therein was modified to refer to “the purchasers named on Schedule A to this
Supplemental NPA.” The Section references hereinafter set forth correspond to the similar sections of the Note Purchase Agreement which are supplemented hereby: 

Section 5.12 Private Offering by the Obligors. Neither such Obligor nor anyone acting on its behalf (other than the Series
            Placement Agents) has offered the Series             Notes or any similar Securities for sale to, or
solicited any offer to buy the Series             Notes or any similar Securities from, or otherwise approached or negotiated in respect thereof with, any Person other than the
Purchasers and not more than             other Persons that are both (a) an “accredited investor” within the meaning of Regulation D under the Securities Act and
(b) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, each of which has been offered the Series             Notes at a
private sale for investment. Neither such Obligor nor anyone acting on its behalf (other than the Series             Placement Agents) has (i) solicited offers for, or offered
or sold, the Series             Notes by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving
a public offering within the meaning of Section 4(a)(2) of the Securities Act or (ii) otherwise taken, or will take, any action that would subject the issuance or sale of the Series
            Notes to the registration requirements of section 5 of the Securities Act or to the registration requirements of any Securities or blue sky laws of any applicable
jurisdiction. 
 Section 5.13 Use of Proceeds; Margin Regulations. The Company will apply the proceeds of the sale of the Series
            Notes as set forth in [insert of use of proceeds acceptable to the Purchasers]. No part of the proceeds from the sale of the Series
            Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors
of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224). Margin stock does not
constitute more than 25% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 25% of the value of such assets. As used in this
Section 5.13, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 

 

	14	 NTD: Update as appropriate in the event of changes in law since Closing. 

  
 Exhibit A - 1 

 [Add any additional representations as appropriate at the time the Series
            Notes are issued] 
 [Include and reference any updated disclosure schedules]

  
 A-2 

 EXHIBIT B 

to Supplemental Note Purchase Agreement 

FORM OF SERIES
20            -_ NOTE 
 GSRP
PORTFOLIO II LLC 
 [Form of Notes to Supplement to be based on applicable Note Purchase Agreement Exhibit]
 

  
 Exhibit B -1 

 CONFIDENTIAL 

October 1, 2021 
 To the Addressees Listed

 On Schedule I hereto 
  

	 	RE:	 GSRP Portfolio II LLC 

Ladies and Gentlemen: 
 We have acted as special
counsel to GSRP Portfolio II LLC, a Delaware limited liability company (“Our Client” or the “Issuer”), in connection with the preparation, execution and delivery of (i) the Note Purchase Agreement, dated as of
the date hereof (the “Note Purchase Agreement”), among the Issuer, GSRP Portfolio II Holdco LLC, a Delaware limited liability company (“Holdings”), MUFG Union Bank, N.A., as the first lien collateral agent (the
“First Lien Collateral Agent”), MUFG Union Bank, N.A., as the notes agent (the “Notes Agent”), MUFG Bank, Ltd., as the intercreditor agent (the “Intercreditor Agent”), the Purchasers referred to
therein (the “Purchasers”) and GSRP Bond 2 Holdco LLC, a Delaware limited liability company, GSRP Chambers Holdco LLC, a Delaware limited liability company, GSRP Great Jones 2 Holdco LLC, a Delaware limited liability company, GSRP
HDS TEB Holdco LLC, a Delaware limited liability company, GSRP Kenmare Holdco LLC, a Delaware limited liability company, GSRP King Holdco LLC, a Delaware limited liability company, GSRP Lafayette Holdco LLC, a Delaware limited liability company,
GSRP Spruce Holdco LLC, a Delaware limited liability company and GSRP Park 2 Holdco LLC, a Delaware limited liability company (collectively, the “Initial Guarantors”, and each individually, an “Initial Guarantor”;
and together with the Issuer, Holdings, ST Holdco (as defined below), the Blockers (as defined below) and GSOC (as defined below), the “Opinion Parties”, and each, an “Opinion Party”), relating to the sale by the
Issuer to the Purchasers of $597,500,000 aggregate principal amount of the Issuer’s 3.10% Senior Secured Notes due June 29, 2046 (the “Notes”), to be issued under the Note Purchase Agreement, (ii) the Credit and
Guaranty Agreement, dated as of the date hereof (the “LC Facility Agreement”), among the Issuer, Holdings, each Initial Guarantor, MUFG Bank, Ltd., as a joint lead arranger, a lender and an issuing bank, HSBC Bank USA, N.A., as a
joint lead arranger, a lender and an issuing bank, MUFG Bank, Ltd., as the administrative agent (the “Administrative Agent”), and the First Lien Collateral Agent, and (iii) certain other agreements, instruments and documents
related to the Note Purchase Agreement and the LC Facility Agreement. This opinion is being furnished to you pursuant to Section 4.1(e) of the Note Purchase Agreement and Section 3.1(e) of the LC Facility Agreement. Neither the delivery of
this opinion nor anything in connection with the preparation, execution or delivery of the Transaction Documents (as defined below) or the transactions contemplated thereby is intended to create or shall create an attorney-client relationship with
you or any other party except Our Client. 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 2 
 In rendering the opinions stated
herein, we have examined and relied upon the following: 
 (a) an executed copy of the Note Purchase Agreement that includes certain
guaranty obligations of the Initial Guarantors in Section 13 thereof (such guaranty obligations, the “Guarantees”); 

(b) executed copies of the certificates evidencing the Notes (together, the “Note Certificates”); 

(c) an executed copy of the LC Facility Agreement; 

(d) an executed copy of the First Lien Pledge and Security Agreement, dated as of the date hereof (the “Security Agreement”),
by and among the Issuer, Holdings, each Initial Guarantor, GSRP HDS TEB Blocker LLC, a Delaware limited liability company (“HDS TEB Blocker”), GSRP MT Solar II Blocker LLC, a Delaware limited liability company (“MT Solar II
Blocker” and together with HDS TEB Blocker, the “Blockers”), GSRP ST Holdco Corp LLC, a Delaware limited liability company (“ST Holdco”) and the First Lien Collateral Agent; 

(e) an executed copy of the Depositary Agreement, dated as of the date hereof (the “Depositary Agreement”), by and among the
Issuer, the First Lien Collateral Agent, the Administrative Agent and MUFG Union Bank, N.A., as depositary bank (the “Depositary”); 

(f) an executed copy of the Collateral Agency and Intercreditor Agreement, dated as of the date hereof, by and among the Issuer, Holdings,
each Initial Guarantor, each Blocker, ST Holdco, the Administrative Agent, the First Lien Collateral Agent, the Notes Agent, the Intercreditor Agent, MUFG Union Bank, N.A., as registrar, paying agent and transfer agent, each Purchaser party thereto
and each other person party thereto; 
 (g) an executed copy of the Limited Guarantee, dated as of the date hereof (the “Limited
Guarantee”), by Goldman Sachs Renewable Power Operating Company LLC, a Delaware limited liability company (“GSOC”), for the benefit of the First Lien Collateral Agent; 

(h) an executed copy of a certificate for each Opinion Party of Jon Yoder, as an Authorized Representative of Goldman Sachs Renewable Power
LLC (“GSRP Parent”), dated the date hereof, a copy of which is attached as Exhibit A hereto (the “Opinion Certificate”); 

(i) an executed copy of a certificate for each Opinion Party of Jon Yoder, as an Authorized Representative of GSRP Parent, dated the date
hereof (the “Organizational Certificate”); 
 (j) copies of each Opinion Party’s Certificate of Formation, certified
by the Secretary of State of the State of Delaware as of September 27, 2021, and certified pursuant to the Organizational Certificate (collectively, the “Certified Charters” and each individually, a “Certified
Charter”); 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 3 
 (k) a copy of each Opinion
Party’s Limited Liability Company Agreement, as described on Schedule III hereto (collectively, the “LLC Agreements”, and each individually, an “LLC Agreement”), certified pursuant to the Organizational
Certificate; 
 (l) copies of certain resolutions of the Board of Directors of GSRP Parent, adopted on October 1, 2021, certified
pursuant to the Organizational Certificate; 
 (m) copies of certain resolutions of the sole member or managing member of each Opinion
Party, adopted on October 1, 2021, certified pursuant to the Organizational Certificate; 
 (n) copies of certificates, dated
September 27, 2021, and bringdown verifications thereof, dated the date hereof, from the Secretary of State of the State of Delaware with respect to each Opinion Party’s existence and good standing in the State of Delaware (collectively,
the “Delaware Certificates”); 
 (o) the financing statements attached hereto as Exhibit B (the “Delaware
Financing Statements”); and 
 (p) an executed copy of an offeree letter, dated as of the date hereof, from each of the Placement
Agents (as defined below) to, inter alia, the Issuer and us (collectively, the “Offeree Letters”). 
 We have also
examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Opinion Parties and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the
Opinion Parties and others, and such other documents as we have deemed necessary or appropriate as a basis for the opinions stated below. 

In our examination, we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity and competency of
all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photocopied copies, and the authenticity of the
originals of such copies. As to any facts relevant to the opinions stated herein that we did not independently establish or verify, we have relied upon statements and representations of officers and other representatives of the Opinion Parties and
others and of public officials, including the facts and conclusions set forth in the Opinion Certificate and the Organizational Certificate and the factual representations and warranties contained in the Transaction Documents. 

We do not express any opinion with respect to the laws of any jurisdiction other than (i) the laws of the State of New York,
(ii) the federal laws of the United States of America, (iii) the Delaware Limited Liability Company Act (the “DLLCA”) and (iv) the UCC (as defined below). 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 4 
 As used herein: 

(i) “California UCC” means the Uniform Commercial Code as in effect on the date hereof in the State of California. 

(ii) “Delaware Filing Office” means the office of the Secretary of State of the State of Delaware. 

(iii) “Delaware UCC” means the Uniform Commercial Code as in effect on the date hereof in the State of Delaware. 

(iv) “Depositary Accounts” means (A) account number, with account name “GSRP PORTFOLIO II LLC PRJ REVENUE”;
(B) account number, with account name “GSRP PORTFOLIO II LLC PRJ DSR ACCT”; (C) account number, with account name “GSRP PORTFOLIO II LLC PRJ DIST RES”; (D) account number, with account name “GSRP PORTFOLIO II
LLC PRJ MAND PREP”; (E) account number, with account name “GSRP PORTFOLIO II LLC PRJ LC REIMB”; (F) account number, with account name “GSRP PORTFOLIO II LLC PRJ SUPP RES”; (G) account number, with account name
“GSRP PORTFOLIO II LLC PRJ HD RES AC”; (H) account number, with account name “GSRP PORTFOLIO II LLC PRJ BUY RES”; and (I) account number, with account name “GSRP PORTFOLIO II LLC PRJ SUPP BUY”, each
established at the Depositary. 
 (v) “Grantor” means each of the Issuer, each Initial Guarantor and each Blocker. 

(vi) “Grantor UCC Collateral” means that portion of the Article 9 Collateral (as defined in the Security Agreement) in which
a security interest may be created under Article 9 of the New York UCC. 
 (vii) “Hague Securities Convention” means the
Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary, July 5, 2006, 17 U.S.T. 401, 46 I.L.M. 649, as in effect on the date hereof in the United States of America. 

(viii) “NAIC” means the National Association of Insurance Commissioners. 

(ix) “New York UCC” means the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

(x) “Organizational Documents” means, collectively, the Certified Charters and the LLC Agreements. 

(xi) “Placement Agents” means, collectively, Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., HSBC Securities
(USA) Inc., PNC Capital Markets LLC, Truist Securities, Inc., CIBC World Markets Corp. and KeyBanc Capital Markets Inc., each in its capacity as a placement agent under the applicable Engagement Letter (as defined in the applicable Offeree Letter).

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 5 
 (xii) “Pledged
Collateral” means all Pledged Equity (as defined in the Security Agreement) in the Issuer, to the extent a security interest may be created therein under Article 9 of the New York UCC. 

(xiii) “Possessory Certificates” means those certificates identified on Schedule II hereto, to the extent a security interest
may be created therein under Article 9 of the New York UCC. 
 (xiv) “Securities” means the Guarantees and the Notes. 

(xv) “ST Holdco Pledged Collateral” means all Pledged Equity (as defined in the Security Agreement) in Wilbur Wright LLC, a
Delaware limited liability company, to the extent a security interest may be created therein under Article 9 of the New York UCC. 
 (xvi)
“Transaction Documents” means the documents listed in paragraphs (a) through (g) above. 
 (xvii)
“UCC” means (a) the New York UCC, (b) the Delaware UCC and/or (c) the California UCC, as applicable. 

(xviii) “UCC Collateral” means the Pledged Collateral, the ST Holdco Pledged Collateral and the Grantor UCC Collateral. Based
upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that: 
 1. Based solely on our
review of the Delaware Certificates, each Opinion Party is duly formed and is validly existing and in good standing under the DLLCA. 
 2.
Each of GSOC, Holdings, ST Holdco, each Initial Guarantor and each Blocker has the limited liability company power and authority to execute, deliver and perform all its obligations under each of the Transaction Documents (other than the Note
Certificates) to which such Opinion Party is a party under the DLLCA. 
 3. The Issuer has the limited liability company power and authority
to execute and deliver each of the Transaction Documents to which the Issuer is a party and to consummate the issuance and sale of the Notes contemplated thereby under the DLLCA. 

4. Each of the Transaction Documents (other than the Note Certificates) to which an Opinion Party is a party has been duly authorized,
executed and delivered by all requisite limited liability company action on the part of such Opinion Party under the DLLCA. 
 5. Each of
the Transaction Documents (other than the Note Certificates) to which an Opinion Party is a party constitutes the valid and binding obligation of such Opinion Party, enforceable against such Opinion Party in accordance with its terms under the laws
of the State of New York. 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 6 
 6. Neither the (i) execution
and delivery by each Opinion Party of the Transaction Documents to which such Opinion Party is a party nor (ii) the performance by such Opinion Party of its obligations under the Transaction Documents (other than the Note Certificates) to which
such Opinion Party is a party conflicts with the Organizational Documents of such Opinion Party or violates the DLLCA, or any law, rule or regulation of the State of New York or the United States of America. 

7. The consummation by the Issuer of the issuance and sale of the Notes contemplated by the Note Purchase Agreement and the Note Certificates
does not: (a) conflict with the Organizational Documents of the Issuer or (b) violate the DLLCA, or any law, rule or regulation of the State of New York or the United States of America. 

8. None of the (i) execution and delivery by each Opinion Party of the Transaction Documents to which such Opinion Party is a party,
(ii) the enforceability of each of the Transaction Documents (other than the Note Certificates) to which such Opinion Party is a party against such Opinion Party, or (iii) the consummation by the Issuer and the Initial Guarantors of the
issuance and sale of the Securities contemplated by the Note Purchase Agreement and the Note Certificates requires the consent, approval, licensing or authorization of, or any filing, recording or registration with, any governmental authority under
the DLLCA or any law, rule or regulation of the State of New York or the United States of America except for those consents, approvals, licenses and authorizations already obtained and those filings, recordings and registrations already made. 

9. Each Opinion Party is not and, solely after giving effect to the offering and sale of the Notes, the extensions of credit made on the date
hereof pursuant to the Transaction Documents, and the application of the proceeds of the sale of the Notes as described in the Note Purchase Agreement, will not be an “investment company” as such term is defined in the Investment Company
Act of 1940, as amended. 
 10. The Note Certificates have been duly authorized by all requisite limited liability company action on the
part of the Issuer and duly executed by the Issuer under the DLLCA and, when issued and delivered by the Issuer against payment therefor in accordance with the terms of the Note Purchase Agreement, the Note Certificates will constitute valid and
binding obligations of the Issuer, entitled to the benefits of the Note Purchase Agreement and enforceable against the Issuer in accordance with their terms under the laws of the State of New York. 

11. Assuming (i) the accuracy of the representations and warranties of the Opinion Parties party thereto set forth in Section 5.12
of the Note Purchase Agreement and of each of the Purchasers set forth in Section 6 of the Note Purchase Agreement, (ii) the due performance by such Opinion Parties of the covenants and agreements set forth in Section 14.2 of the Note
Purchase Agreement and the due performance by the Purchasers of the covenants and agreements set forth in Section 6 of the Note Purchase Agreement, and (iii) the accuracy of the representations and warranties of the Placement Agents and
compliance by the Placement Agents with the covenants and agreements of the Placement Agents, in each case contained in the Offeree Letters, the offer, sale and delivery of the Securities to the Purchasers in the manner contemplated by the Note
Purchase Agreement does not require registration under the Securities Act of 1933, as amended or qualification under the Trust Indenture Act of 1939. 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 7 
 12. Assuming that each Opinion Party
complies with the provisions of the LC Facility Agreement relating to the use of proceeds, the making of the loans or the other extensions of credit under the LC Facility Agreement will not violate Regulation U or X of the Board of Governors of the
Federal Reserve System. 
 13. Under the New York UCC, the provisions of the Security Agreement are effective to create a security interest
in each Grantor’s rights in the Grantor UCC Collateral in favor of the First Lien Collateral Agent to secure the First Lien Obligations (as defined in the Intercreditor Agreement). 

14. Under the New York UCC, the provisions of the Security Agreement are effective to create a security interest in (i) Holdings’
rights in the Pledged Collateral in favor of the First Lien Collateral Agent to secure the First Lien Obligations (as defined in the Intercreditor Agreement) and (ii) ST Holdco’s rights in the ST Holdco Pledged Collateral in favor of the
First Lien Collateral Agent to secure the First Lien Obligations (as defined in the Intercreditor Agreement). 
 15. Under the Delaware UCC,
each Delaware Financing Statement is in sufficient form for filing in the Delaware Filing Office. 
 16. Under the Delaware UCC, the
security interest of the First Lien Collateral Agent will be perfected in each Grantor’s rights in that portion of the Grantor UCC Collateral in which a security interest can be perfected under the Delaware UCC by the filing of a financing
statement in the Delaware Filing Office upon the later of the attachment of the security interest and the filing of the Delaware Financing Statement identifying such Grantor as debtor in the Delaware Filing Office. 

17. Under the Delaware UCC, the security interest of the First Lien Collateral Agent will be perfected in (i) Holdings’ rights in
that portion of the Pledged Collateral in which a security interest can be perfected under the Delaware UCC by the filing of a financing statement in the Delaware Filing Office upon the later of the attachment of the security interest and the filing
of the Delaware Financing Statement identifying Holdings as debtor in the Delaware Filing Office and (ii) ST Holdco’s rights in that portion of the ST Holdco Pledged Collateral in which a security interest can be perfected under the
Delaware UCC by the filing of a financing statement in the Delaware Filing Office upon the later of the attachment of the security interest and the filing of the Delaware Financing Statement identifying ST Holdco as debtor in the Delaware Filing
Office. 
 18. Under the California UCC, upon the delivery to the First Lien Collateral Agent on the date hereof of the Possessory
Certificates, the security interest of the First Lien Collateral Agent in each Opinion Party’s rights in the Possessory Certificates pledged by such Opinion Party will be perfected. 

19. Under the New York UCC, the provisions of the Depositary Agreement are effective to perfect the security interest of the First Lien
Collateral Agent in the Issuer’s rights in the Depositary Accounts. 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 8 
 The opinions stated herein are
subject to the following qualifications: 
 (a) we do not express any opinion with respect to the effect on the opinions stated herein of any
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer, preference and other similar laws or governmental orders affecting creditors’ rights generally, and the opinions stated herein are limited by such laws and governmental
orders, and by general principles of equity (regardless of whether enforcement is sought in equity or at law); 
 (b) except to the extent
expressly stated in the opinions contained herein, we do not express any opinion with respect to the effect on the opinions stated herein of (i) the compliance or non-compliance of any party to any of the Transaction Documents with any laws,
rules or regulations applicable to such party or (ii) the legal status or legal capacity of any party to any of the Transaction Documents; 

(c) except to the extent expressly stated in paragraphs 9 and 12, we do not express any opinion with respect to any law, rule or regulation
that is applicable to any party to any of the Transaction Documents or the transactions contemplated thereby solely because such law, rule or regulation is part of a regulatory regime applicable to any such party or any of its affiliates as a result
of the specific assets or business operations of such party or such affiliates; 
 (d) except to the extent expressly stated in paragraphs
9, 11 and 12, we do not express any opinion with respect to any securities, antifraud, consumer credit, debt collection, privacy, derivatives or commodities laws, rules or regulations, Regulations T, U or X of the Board of Governors of the Federal
Reserve System or laws, rules or regulations relating to national security; 
 (e) except to the extent expressly stated in the opinions
contained herein, we have assumed that each of the Transaction Documents constitutes the valid and binding obligation of each party to such Transaction Document, enforceable against such party in accordance with its terms; 

(f) the opinions stated herein are limited to the agreements and documents specifically identified in the opinions contained herein without
regard to any agreement or other document referenced in such agreement or document (including agreements or other documents incorporated by reference or attached or annexed thereto); 

(g) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document relating to any
indemnification, contribution, non-reliance, exculpation, release, limitation or exclusion of remedies, waiver or other provisions having similar effect that may be contrary to public policy or violative of federal or state securities laws, rules or
regulations, or to the extent any such provision purports to, or has the effect of, waiving or altering any statute of limitations; 
 (h)
we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document purporting to prohibit, restrict or condition the assignment of rights under such Transaction Document to the extent that such
prohibition, restriction or condition on assignability is ineffective pursuant to the Uniform Commercial Code; 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 9 
 (i) to the extent that any opinion
relates to the enforceability of the choice of New York law and choice of New York forum provisions contained in any Transaction Document, the opinions stated herein are subject to the qualification that such enforceability may be subject to, in
each case, (i) the exceptions and limitations in New York General Obligations Law sections 5-1401 and 5-1402 and (ii) principles of comity and constitutionality; 

(j) we call to your attention that irrespective of the agreement of the parties to any Transaction Document, a court may decline to hear a
case on grounds of forum non conveniens or other doctrine limiting the availability of such court as a forum for resolution of disputes; in addition, we call to your attention that we do not express any opinion with respect to the subject matter
jurisdiction of the federal courts of the United States of America in any action arising out of or relating to any Transaction Document; 

(k) we call to your attention that pursuant to Section 12.23 of the LC Facility Agreement the parties have contractually agreed to the
override of certain rights under the LC Facility Agreement and to future actions that may be taken by the Federal Deposit Insurance Corporation in connection therewith; we do not express any opinion with respect to the enforceability of such section
or the effect of any such future actions on any of the opinions herein stated; 
 (l) we do not express any opinion with respect to the
enforceability of any provision contained in any Transaction Document granting any person any right to set off or apply any deposit, property or indebtedness except to the extent that the debt between any Opinion Party and such person is a mutual
debt; 
 (m) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document to the
extent any such provision purports to, or has the effect of, waiving any statute of limitations; 
 (n) we have assumed that all conditions
precedent contained in Section 4.1 of the Note Purchase Agreement and Section 3.1 of the LC Facility Agreement, which conditions require the delivery of documents, evidence or other items satisfactory in form, scope and/or substance to the
Purchasers, the Administrative Agent, any LC Issuing Bank (as defined in the LC Facility Agreement) or any Lender (as defined in the LC Facility Agreement) or the satisfaction of which is otherwise in the discretion or control of the Purchasers, the
Administrative Agent, any LC Issuing Bank (as defined in the LC Facility Agreement) or any Lender (as defined in the LC Facility Agreement), have been, or contemporaneously with the delivery hereof will be, fully satisfied or waived; 

(o) we call to your attention that pursuant to Section 12.21 of the LC Facility Agreement (the “Bail-In Clause”) the
parties have agreed that, notwithstanding any other provisions of the LC Facility Agreement, the terms of the LC Facility Agreement may be unilaterally modified, repudiated or terminated in the future by the EEA Resolution Authority (as such term is
defined in the Bail-In Clause) and we do not express any opinion with respect to the enforceability of the Bail-In Clause or the effect of any such future actions on any of the opinions herein stated; 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 10 
 (p) we do not express any opinion
with respect to the enforceability of Section 13.2 of the Note Purchase Agreement, Section 7.1 of the LC Facility Agreement or Section 3 of the Limited Guarantee to the extent that any such section provides that the obligations of the
Initial Guarantors or GSOC are absolute and unconditional irrespective of the enforceability or genuineness of the Note Purchase Agreement, the LC Facility Agreement or the Limited Guarantee, as applicable, or the effect thereof on the opinions
herein stated; 
 (q) we do not express any opinion with respect to the enforceability of the provisions contained in Section 13.4 of
the Note Purchase Agreement, Section 7.10 of the LC Facility Agreement or Section 5 of the Limited Guarantee to the extent that such provisions limit the obligation of the Initial Guarantors or GSOC under the Note Purchase Agreement, the
LC Facility Agreement or the Limited Guarantee, as applicable, or any right of contribution of any party with respect to Section 13 of the Note Purchase Agreement, Article VII of the LC Facility Agreement or Section 5 of the Limited
Guarantee, as applicable; 
 (r) we do not express any opinion with respect to the enforceability of any provision contained in any
Transaction Document to the extent that such provision excuses the issuer of a letter of credit from liability to the extent that such provision is unenforceable pursuant to Section 5-103 of the Uniform Commercial Code; 

(s) certain of the remedial and procedural provisions with respect to the security contained in the Transaction Documents may be unenforceable
in whole or in part, but the Transaction Documents, taken as a whole, together with applicable law, contain adequate provisions for the practical realization of the benefits of the security created thereby; 

(t) we do not express any opinion with respect to the enforceability of any provision contained in any Transaction Document providing any
waiver, release, disclaimer or any other variation of any right or duty of any party to the extent that any such waiver, release, disclaimer or other variation is not enforceable pursuant to Sections 1-302 or 9-602 of the Uniform Commercial Code;

 (u) we call to your attention that provisions in more than one security agreement purport to govern the rights and remedies of certain
secured parties and/or impose obligations on the Opinion Parties with respect to the same collateral, and we advise you that a court may give effect to limitations contained in any one of such agreements; 

(v) except to the extent expressly stated in the opinions contained herein, we do not express any opinion with respect to the creation,
perfection or priority of any security interest; 
 (w) we do not express any opinion with respect to the enforceability of
Section 13.2 of the Note Purchase Agreement, Section 2.5(j) of the LC Facility Agreement, or Section 6.16 of the Security Agreement to the extent that such sections provide that either the rights and remedies of any secured party
and/or the liens in favor of any secured party are absolute and unconditional irrespective of the enforceability or genuineness of any Transaction Document or the effect thereof on the opinions herein stated; 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

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 (x) we do not express any opinion
with respect to the enforceability of any provisions contained in any Transaction Document to the extent that any Opinion Party is obligated to pay any fee or provide any other compensation or consideration in respect of brokering, soliciting,
driving or procuring any loan or forbearance or for making or renewing any bond, bill, note or other security given for or concerning such loan or forbearance in excess of the amount permitted pursuant to New York General Obligations Law
Section 5-531; 
 (y) we do not express any opinion with respect to the enforceability of any provisions contained in any Transaction
Document to the extent that such provisions provide for liquidated damages, acceleration of future amounts due (other than principal) without appropriate discount to present value, late charges, prepayment charges, interest upon interest or
forfeitures or the recovery of amounts deemed to constitute penalties; 
 (z) for purposes of opinion paragraphs 6, 7 and 8, we have assumed
compliance with Section 18-607 of the DLLCA to the extent any proceeds are used for the payment by any Opinion Party of a distribution as referred to in Section 9.11 of the Note Purchase Agreement; 

(aa) we have assumed the LLC Agreement of each Opinion Party is the only agreement of the members of such Opinion Party as to the affairs of
such Opinion Party and the conduct of its business, and we do not express any opinion with respect to the effect of any other agreement of the members of any such Opinion Party as to the affairs of such Opinion Party and the conduct of its business.
Further, we have assumed that each Opinion Party has, and since the time of its formation, has had, at least one validly admitted and existing member of such Opinion Party and (i) no procedures have been instituted for, and no other event has
occurred, including, without limitation, any action taken by any such Opinion Party or its respective members, that would result in, the liquidation, dissolution or winding-up of such Opinion Party, (ii) no event has occurred that has adversely
affected the good standing of any such Opinion Party under the laws of its jurisdiction of formation, and each such Opinion Party has taken all actions required by the laws of its jurisdiction of formation to maintain such good standing and
(iii) no grounds exist for the revocation or forfeiture of any such Opinion Party’s Certified Charter; 
 (bb) we have assumed
that each of the Grantors has rights or the power to transfer rights, and, with respect to after-acquired property, will have rights or the power to transfer rights, in the Grantor UCC Collateral and we do not express any opinion with respect to the
nature or extent of any Grantor’s rights in any of the Grantor UCC Collateral granted by it; 
 (cc) we have assumed that Holdings has
rights or the power to transfer rights, and, with respect to after-acquired property, will have rights or the power to transfer rights, in the Pledged Collateral and we do not express any opinion with respect to the nature or extent of
Holdings’ rights in any of the Pledged Collateral; 
 (dd) we have assumed that ST Holdco has rights or the power to transfer rights,
and, with respect to after-acquired property, will have rights or the power to transfer rights, in the ST Holdco Pledged Collateral and we do not express any opinion with respect to the nature or extent of ST Holdco’s rights in any of the ST
Holdco Pledged Collateral; 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 12 
 (ee) the opinions stated herein
with respect to any security interest in proceeds are subject to the limitations set forth in Section 9-315 of the UCC; 
 (ff) we do
not express any opinion with respect to any security interest in commercial tort claims, timber to be cut or “cooperative interests” (as defined in the New York UCC); 

(gg) we do not express any opinion with respect to any security interest in any goods that are accessions to, or commingled or processed with,
other goods to the extent that the security interest therein is limited by Section 9-335 or 9-336 of the UCC; 
 (hh) for purposes of
Article 9 of the UCC, we have assumed that (i) the name of the secured party set forth on the Delaware Financing Statements is sufficient, and (ii) the Certified Charter of each Grantor, Holdings and ST Holdco is the public organic record
inclusive of the record most recently filed with or issued or enacted by such Opinion Party’s jurisdiction of organization which purports to state, amend, or restate or correct such Opinion Party’s name, without regard to capitalization;

 (ii) we note that the First Lien Collateral Agent is identified as acting in a representative capacity, and we do not represent either
the First Lien Collateral Agent or the beneficiaries for whom the First Lien Collateral Agent purports to act. We do not express any opinion with respect to any security interest of the First Lien Collateral Agent for the benefit of any beneficiary
for which it purports to act except to the extent the First Lien Collateral Agent is, on the date hereof, the trustee, indenture trustee, agent, collateral agent or other representative (as such terms are used in the definition of “secured
party” in the UCC) of such beneficiary for the purposes of obtaining and perfecting the security interests intended to be created pursuant to the Security Agreement; 

(jj) we do not express any opinion with respect to any security interest in any UCC Collateral subject to any restriction on or prohibition
against assignment or transfer contained in such UCC Collateral unless such restriction or prohibition is rendered ineffective pursuant to Part 4 of Article 9 of the UCC; 

(kk) we call to your attention that at the time the secured party exercises its remedies with respect to any UCC Collateral consisting of an
interest in a limited liability company, the right of the secured party to become a member in the respective limited liability company may be limited by applicable law and the terms of the limited liability company agreement pursuant to which such
limited liability company was formed, as amended from time to time, and that the only remedy may be the right to receive distributions to which the applicable Grantor, Holdings or ST Holdco is otherwise entitled pursuant to such limited liability
company agreement; 
 (ll) we do not express any opinion with respect to any security interest in any copyrights, patents, trademarks,
service marks or other intellectual property, the proceeds thereof or money due with respect to the lease, license or use thereof except to the extent that Article 9 of the UCC is applicable to the foregoing; 

(mm) we do not express any opinion with respect to any security interest in any UCC Collateral consisting of claims against any government or
governmental agency (including without limitation the United States of America or any state or political subdivision thereof or any agency or department of the United States of America or any state or political subdivision thereof); 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 13 
 (nn) we call to your attention that
with respect to any UCC Collateral consisting of licenses or permits issued by governmental authorities, the respective Grantor, as applicable, may not have sufficient rights therein for the security interest of the secured party to attach and, even
if the applicable Grantor has sufficient rights for the security interest to attach, the exercise of remedies with respect thereto may be limited by the terms of the license or permit or require the consent of the governmental authority issuing such
license or permit; 
 (oo) we do not express any opinion (i) whether the description of the Article 9 Collateral (as defined in the
Security Agreement) is sufficient to create and perfect a security interest in such collateral, except with respect to such items or portions of the description that describe such collateral as a type of collateral exactly as defined in the New York
UCC (without modifications thereto or exclusions therefrom), or (ii) on the effect of excluding Excluded Assets (as defined in the Security Agreement) on the sufficiency of the description of the collateral; 

(pp) we have assumed that each Depositary Account is either (i) a “securities account” (as defined in the New York UCC) and the
Depositary is a “securities intermediary” (as defined in the New York UCC) and is acting in such capacity in maintaining each Depositary Account or (ii) a “deposit account” (as defined in the New York UCC) and the Depositary
is a “bank” (as defined in the New York UCC) and is acting in such capacity in maintaining the applicable Depositary Accounts; 

(qq) we have assumed that none of the Possessory Certificates, the Pledged Collateral, the ST Holdco Pledged Collateral or the Depositary
Accounts constitute Excluded Assets (as defined in the Security Agreement); 
 (rr) we do not express any opinion with respect to the
perfection of any security interest in any Possessory Certificate except to the extent such Possessory Certificate is a “certificated security” (as defined in the UCC); 

(ss) we do not express any opinion as to the applicability or effect on the opinions stated herein of the Hague Securities Convention; 

(tt) we do not express any opinion with respect to any laws, rules, regulations or orders concerning declared emergencies or the effect
thereof on the opinion stated herein; and 
 (uu) we have assumed that “value” (within the meaning of Section 1-204 of the
UCC) was given. 
 In addition, in rendering the foregoing opinions we have assumed that: 

(a) except to the extent expressly stated in the opinions contained herein with respect to the Opinion Parties, neither the authorization,
execution and delivery by each Opinion Party of the Transaction Documents to which such Opinion Party is a party, nor the performance by each 

 To the Addressees Listed 

On Schedule I hereto 
 October 1, 2021

 Page 14 
 Opinion Party of its obligations under each of the
Transaction Documents to which such Opinion Party is a party: (i) constitutes or will constitute a violation of, or a default under, any lease, indenture, instrument or other agreement to which any Opinion Party or their respective property is
subject, (ii) contravenes or will contravene any order or decree of any governmental authority to which any Opinion Party or its respective property is subject, or (iii) violates or will violate any law, rule or regulation to which any
Opinion Party or its respective property is subject; and 
 (b) except to the extent expressly stated in the opinions contained herein with
respect to the Opinion Parties, neither the execution and delivery by each Opinion Party of the Transaction Documents to which such Opinion Party is a party nor the enforceability of each of the Transaction Documents to which such Opinion Party is a
party against such Opinion Party requires or will require the consent, approval, licensing or authorization of, or any filing, recording or registration with, any governmental authority under any law, rule or regulation of any jurisdiction. 

This opinion is furnished only to you and is solely for your benefit in connection with the closing occurring today pursuant to the
Transaction Documents. Without our prior written consent, this opinion may not be used, circulated, quoted or otherwise referred to for any other purpose or relied upon by, or assigned to, any other person for any purpose, except that (i) the
Lenders and LC Issuing Banks (as each such term is defined in the LC Facility Agreement) who become party to the LC Facility Agreement pursuant to Section 10.14 of the LC Facility Agreement and, upon notice to us, any successor Administrative
Agent (as defined in the LC Facility Agreement) who becomes a party to the LC Facility Agreement pursuant to Section 10.6 of the LC Facility Agreement, any successor Collateral Agent (as defined in the Intercreditor Agreement) who becomes a
party to the Intercreditor Agreement pursuant to Section 7.8 of the Intercreditor Agreement, and any successor Depositary (as defined in the Depositary Agreement) who becomes a party to the Depositary Agreement pursuant to Section 4.4 of
the Depositary Agreement are entitled to rely upon this opinion as though it had been addressed to them on the date hereof, (ii) this opinion may be furnished to, but not relied upon by, bona fide potential assignees of an interest in the Notes
under the Note Purchase Agreement in anticipation of an assignment in accordance with the express provisions of Section 14.2 of the Note Purchase Agreement, (iii) this opinion may be furnished to, but not relied upon by, the NAIC and any
insurance regulatory authority having jurisdiction over the respective Purchaser to the extent required by applicable law or regulation, and (iv) upon notice to us, this opinion may be disclosed to, but not relied upon by, regulatory
authorities having jurisdiction over any addressee hereof. 
 Very truly yours, 

A.M. 

 Exhibit A 

Opinion Certificate 

(see attached) 

 Exhibit B 

Delaware Financing Statements 

(see attached) 

 Final Form 

EXHIBIT E 
 to Note Purchase
Agreement 
 FORM OF INSURANCE CONSULTANT CERTIFICATE 

 

					
	

	  	 Moore-McNeil, LLC
 2002 Richard Jones Road

Suite A-307
 Nashville, TN 37215

W moore-mcneil.com
	  	

 Insurance Consultant’s Closing Certificate 

                    , 2021 

MUFG Bank, Ltd., 
 as LC Facility Agent 

1221 Avenue of the Americas, 6th Floor 
 New York, NY 10020-1001

 Attention: Lawrence Blat 
 Phone: 212-405-6621 

E-mail: lawrence.blat@mufgsecurities.com, Agencydesk@us.sc.mufg.jp 

MUFG Union Bank, N.A., 
 as First Lien Collateral
Agent 
 1251 Avenue of the Americas, 19th Floor 
 New York, NY
10020 
 Attention: Institutional Agency Services 
 Fax:
(415) 273-2492 
 Email: SFCT@unionbank.com 
 MUFG Bank,
Ltd., 
 as Intercreditor Agent 
 1221 Avenue of
the Americas, 6th Floor 
 New York, NY 10020-1001 
 Attention:
Lawrence Blat 
 Telephone: 212-405-6621 
 E-mail:
lawrence.blat@mufgsecurities.com, 
 Agencydesk@us.sc.mufg.jp 
  

	 	Re:	 Goldman Sachs Renewable Power LLC 

 Ladies and Gentlemen: 

The undersigned, a duly authorized representative of Moore-McNeil, LLC (the “Insurance Consultant”), hereby provides this
letter in accordance with (i) Section 4.1(p) of the Note Purchase Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase
Agreement”), among GSRP Portfolio II LLC (“Borrower”), GSRP Portfolio II HoldCo LLC (“Holdings”), the guarantors from time to time party thereto (“Guarantors”), MUFG Union Bank, N.A., as
the first lien collateral agent (in such capacity, the “First Lien Collateral Agent”), MUFG Union Bank, N.A., as the Notes Agent (in such capacity, the “Notes Agent”), MUFG Bank, Ltd., as the Intercreditor Agent (in
such capacity, the “Intercreditor Agent”) and each purchaser from time to time party thereto (collectively the “First Lien Purchasers”) and (b) Section 3.1(l) of the Credit and Guaranty Agreement dated as
of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, the Guarantors, the several lenders and issuing banks party thereto
from time to time (the “LC Facility Lenders” and the “LC Issuing Banks”, respectively), MUFG Bank, Ltd., as administrative agent (in such capacity, the “LC Facility Agent”) and the First Lien
Collateral Agent. Capitalized terms used but not otherwise defined in this letter shall have the meanings assigned to such terms (whether directly or by reference to another agreement or document) in that certain Collateral Agency and Intercreditor
Agreement, dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Company, Holdings, Guarantors, the LC Facility Agent, the
First Lien Collateral Agent, the Notes Agent, the Intercreditor Agent, the purchasers party thereto and other persons from time to time party thereto. 

The Insurance Consultant hereby makes the following statements in favor of the Relying Parties (as defined below) with respect to the Borrower
and the Projects as of the date first mentioned above: 
  

	 	(1)	 The Insurance Consultant acknowledges that pursuant to the Financing Documents, the LC Facility Lenders, LC
Issuing Banks and First Lien Purchasers are providing financing to the Borrower, and in so doing are relying on this Insurance Consultant’s Certificate and the Insurance Consultant’s report dated July 26, 2021 (the “Insurance
Consultant’s Report”), with respect to the Projects. 

  

	 	(2)	 Attached hereto as Appendix I is an accurate and complete copy of the Insurance Consultant’s
Report. 

  

	 	(3)	 The Insurance Consultant’s Report was prepared in good faith by the Insurance Consultant pursuant to the
scope of services in accordance with generally accepted consulting practices using information provided to the Insurance Consultant by the Borrower and its Affiliates, counsel to the Borrower, and the Borrower’s insurance broker in respect of
the Projects, the accuracy of which has not been independently verified by the Insurance Consultant. 

  

  
 Trusted Independent
Insurance Advisor 

	 	(4)	 Since the date of the Insurance Consultant’s Report, nothing has come to the Insurance Consultant’s
attention which would materially affect, or cause it to change, the findings and conclusions included in the Insurance Consultant’s Report. The Insurance Consultant’s Report has not been modified, edited, altered or amended in any respect
by the Insurance Consultant since the date of the Insurance Consultant’s Report. 

  

	 	(5)	 The Insurance Consultant hereby confirms, as of the date hereof, the evaluation, conclusions and
recommendations contained in the Insurance Consultant’s Report represent the Insurance Consultant’s professional opinion and that such opinions are subject to the legal notice therein. 

 

	 	(6)	 In connection with the preparation of the Insurance Consultant’s Report, personnel of the Insurance
Consultant have participated in telephonic and/or email discussions with representatives of the Borrower, their Affiliates, and the Borrower’s insurance broker in respect of the Projects. 

 

	 	(7)	 The Insurance Consultant hereby confirms, as of the date hereof, that based upon the information provided to it
by or on behalf of the Borrower, insurance required to be obtained by the Borrower as outlined in Sections 4.1(p), and 9.2 of the Note Purchase Agreement and Sections 3.1(l), 4.24, and 5.2 of the Credit Agreement (the “Required
Insurance”) has been obtained, such Required Insurance is: (i) in full force and effect and complies in all material respects with the Required Insurance, (ii) all premiums due and payable on all such Required Insurance have been
paid in full or are not in arrears, (iii) evidence of insurance provided is reasonably consistent (except to the extent expressly noted in the Insurance Consultant’s Report) with the types and amounts noted in the insurance requirements as
set in the Material Project Documents that have been reviewed and summarized in Appendix B of the Insurance Consultant’s Report, except as otherwise stated therein, and (iv) the costs of such insurance coverage for the first year of
operation as shown in the Base Case Projections is reasonable and consistent with the Insurance Consultant’s Report for such period. 

  

	 	(8)	 Statements from the Borrower’s insurance broker as well as certificates of insurance and/or other
information representing compliance with the Required Insurance, copies of which are attached hereto as Appendix II, provide satisfactory evidence that the Borrower has complied with the terms and conditions of Sections 4.1(p), and 9.2 of the
Note Purchase Agreement and Sections 3.1(l), 4.24, and 5.2 of the Credit Agreement. 

  

	 	(9)	 The Insurance Consultant has reviewed the Required Insurance and is familiar with the terms stated therein. It
is the Insurance Consultant’s opinion that the types and amounts of insurance specified in Sections 4.1(p), and 9.2 of the Note Purchase Agreement and Sections 3.1(l), 4.24, and 5.2 of the Credit Agreement are reasonable and consistent with
prudent industry standards for power generation projects of similar size and scope as the Projects. 

  

	 	(10)	 The Insurance Consultant’s liability hereunder is limited as set forth in the Client Services Agreement,
dated as of [ ● ] and the Schedule of Work No. 01, dated as of [ ● ], between Alliant Services, Inc. and Goldman Sachs Asset Management L.P. 

  
 Trusted Independent
Insurance Advisor 

 The undersigned, on behalf of the Insurance Consultant, hereby confirms that the Relying
Parties shall be permitted to rely on the Insurance Consultant’s Report as if the Insurance Consultant’s Report was specifically addressed to the Relying Parties. 

This letter is not to be construed as legal advice or a legal opinion, nor shall any statement made herein be deemed to be relied upon as
legal advice. This letter is not to be deemed as a warranty or guaranty that the insurance currently in force or required to be in full force will remain in full force and effect. 

The Insurance Consultant disclaims any obligation to update this reliance letter after the date hereof. This reliance letter is not intended
to be, and may not be, relied upon by any parties other than the Secured Parties and their respective affiliates, successors and permitted assigns (collectively, the “Relying Parties”). A copy of the Insurance Consultant’s
Report and this reliance letter may be furnished (i) to any governmental authority to whose regulations any Relying Party is subject or as otherwise required by law, rule or regulation and (ii) in private communications to counsel,
accountants or financial advisors of any Relying Party (it being understood that such persons to whom such disclosure is being made will be informed of the confidential nature of this reliance letter and the Insurance Consultant’s Report and
instructed to keep such information confidential). 
 SIGNATURE PAGE FOLLOWS 

 

  
 Trusted Independent
Insurance Advisor 

 IN WITNESS WHEREOF, the Insurance Consultant has caused this Insurance Consultant’s
Certificate to be duly executed and delivered by an authorized officer of the Insurance Consultant as of the date first above written. 
  

					
	Respectfully submitted,
		
	    	 	 MOORE-MCNEIL LLC,
 a
Tennessee limited liability company

			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

  

  
 Trusted Independent
Insurance Advisor 

 APPENDIX I 

Insurance Consultant’s Report 

(see attached) 
  

  
 Trusted Independent
Insurance Advisor 

 APPENDIX II 

Evidence of Insurance Compliance 

(see attached) 
  

  
 Trusted Independent
Insurance Advisor 

 EXHIBIT F 

to Note Purchase Agreement 

FORM OF INDEPENDENT ENGINEER CERTIFICATE 
  

 
 One Hallidie Plaza, Suite 401 

San Francisco, CA. 94102 

RELIANCE LETTER 

OCTOBER 1, 2021 
 MUFG Bank, Ltd., 

as LC Facility Agent 
 1221 Avenue of the Americas, 6th Floor 

New York, NY 10020 
 Attention: Lawrence Blat 

Phone: 212-405-6621 
 E-mail: lawrence.blat@mufgsecurities.com,
Agencydesk@us.sc.mufg.jp 
 MUFG Union Bank, N.A., 
 as First
Lien Collateral Agent 
 1251 Avenue of the Americas, 19th Floor 

New York, NY 10020 
 Attention: Institutional Agency Services 

Phone: (415) 273-2492 
 Email: SFCT@unionbank.com 

MUFG Bank, Ltd., 
 as Intercreditor Agent 

1221 Avenue of the Americas, 6th Floor 
 New York, NY 10020-1001

 Attention: Lawrence Blat 
 Telephone: 212-405-6621 

E-mail: lawrence.blat@mufgsecurities.com, 

Agencydesk@us.sc.mufg.jp 
 Ladies and Gentlemen: 

 

	 	Re:	 Independent Engineering Report on the Greenbond II Portfolio (the “Report”)

 In order to finance the development, acquisition, construction, installation, testing, operation and use of a
portfolio of solar photovoltaic projects (the “Portfolio”), GSRP Portfolio II LLC, a limited liability company organized and existing under the laws of the State of Delaware (“Borrower”), entered into (a) that
certain Note Purchase Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase 

  
 1 

 
Agreement”), among the Borrower, GSRP Portfolio II HoldCo LLC (“Holdings”), the guarantors from time to time party thereto, MUFG Union Bank, N.A, as first lien
collateral agent (together with its successors, designees and assigns in such capacity, the “First Lien Collateral Agent”), MUFG Union Bank, N.A., as the notes agent (in such capacity, the “Notes Agent”), MUFG Bank,
Ltd., as the Intercreditor Agent (in such capacity, the “Intercreditor Agent”), and each purchaser from time to time party thereto and (b) that certain Credit and Guaranty Agreement dated as of the date hereof (as amended,
amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, the guarantors from time to time party thereto, the several lenders and issuing banks party thereto
from time to time, the First Lien Collateral Agent and MUFG Bank, Ltd., as LC facility agent (in such capacity, the “LC Facility Agent”). Capitalized terms used but not defined herein shall have the meaning given in that certain
Collateral Agency and Intercreditor Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Borrower, Holdings, the
guarantors from time to time party thereto, the LC Facility Agent, the First Lien Collateral Agent, the Notes Agent, the Intercreditor Agent and other Persons from time to time party thereto. 

The Secured Parties, together with their respective directors, officers, employees, representatives, agents, consultants, attorneys,
successors and assigns, collectively shall be referred to herein as the “Reliance Parties”. 
 The undersigned, a duly
authorized representative of Enertis Solar Inc., (the “Consultant”), acknowledges that the Reliance Parties will be relying on the Report, a true, correct and complete copy of which is attached hereto as Appendix A, and the
Consultant consents to such reliance. The Report was prepared in good faith by the Consultant in accordance with generally accepted consulting and industry practices. Nothing has come to the attention of the Consultant as of the date hereof that
causes the Consultant to believe that the Report contains any untrue statements of material fact or omits to state a material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made,
not misleading. The Consultant hereby confirms, as of the date hereof that the evaluation, conclusions and recommendations contained in the Report are accurate and complete in all material respects. 

The Report has no other purpose and should not be relied on by any other persons or entities other than the Reliance Parties. The Reliance
Parties are advised that (a) the Report was originally prepared for the sole use of Goldman Sachs Asset Management, and (b) reliance by the Reliance Parties upon the Report or any information, opinions or assertions therein, and all rights
and liability arising therefrom, will be governed exclusively by the terms of the Proposal by and among Enertis and The Renewable Power Group of Goldman Sachs Asset Management, L.P., dated as of July 8, 2021, a true, correct and complete copy
of which is attached hereto as Appendix B. 
 [Signature page follows] 

  
 2 

 IN WITNESS WHEREOF, the undersigned, a duly qualified representative of the Independent
Engineer, has caused this Reliance Letter to be duly executed as of the date first above written. 
  

			
	Very truly yours,
	
	ENERTIS SOLAR INC.
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

  
 [Signature Page to
Independent Engineer Certificate] 

 Appendix A 

Report 

  
 [Signature Page to
Independent Engineer Certificate] 

 Appendix B 

Proposal 

  
 [Signature Page to
Independent Engineer Certificate] 

 EXHIBIT G 

to Note Purchase Agreement 

FORM OF MARKET CONSULTANT CERTIFICATE 

Leidos Proprietary 

Agreement with Leidos Engineering, LLC for 

Use of Work Products in connection with 

GSRP II Portfolio 

            , 2021 

This serves to document the acknowledgement and agreement (the “Use Agreement”) between MUFG Bank, Ltd., as Intercreditor Agent on
behalf of, for the benefit of and with the authority to bind the First Lien Secured Parties under and as defined in that certain Intercreditor Agreement (in such capacity, the “Intercreditor Agent”), to be entered into among MUFG
Bank, Ltd., as LC facility agent, MUFG Union Bank, N.A., as the First Lien Collateral Agent, the Intercreditor Agent, GSRP Portfolio II LLC, the purchasers party thereto and the other parties thereto (the Intercreditor Agent and First Lien Secured
Parties (with the exception of the First Lien Collateral Agent and Depositary Bank) collectively, the “Recipients”) and Leidos Engineering, LLC (“Leidos”), with respect to the use of documents prepared by
Leidos when providing Independent Market Consulting Services related to the GSRP solar photovoltaic portfolio, including operating plants located in California, Colorado, Connecticut, Illinois, Massachusetts, Maryland, New Jersey, Nevada, Oregon,
Rhode Island and Vermont (the “Portfolio”). 
 Effective February 17, 2021, Goldman Sachs Renewables Power LLC (the
“Client” or “GSRP”) and Leidos executed a Task Authorization (the “TA”), under a Master Professional Services Agreement, dated as of March 21, 2014 (as amended, the “MPSA”),
for Leidos to provide an Independent Market Consultant’s Report (the “Report”) for the purpose of supporting the investment of the Portfolio. 

The Recipients intend to rely on the Report prepared under the TA with Client and/or other analyses, data or information prepared by Leidos (collectively
“Work Products”). In consideration of Leidos providing Work Products to the Recipients, the Recipients agree as follows: 
  

	1.	 The services provided by Leidos pursuant to the TA, and any Work Products, are intended to be used as described
in such Work Product and solely in connection with the Recipients’ financings of the Portfolio (the “Intended Purpose”). The Recipients shall have the right to use and rely on the Work Products for the Intended Purpose under
the terms of this Use Agreement. The Recipients agree that they will not use the Work Products in furtherance of any purpose other than the Intended Purpose. 

  

	2.	 The Recipients agree not to make any changes to the Work Products without the prior written approval of Leidos.

  

	3.	 Leidos acknowledges that the Recipients may provide copies of the Work Products for informational purposes to
its attorneys and consultants, potential financial parties, investors, underwriters, purchasers, advisors, representatives, insurance regulators or other parties in connection with the Intended Purpose or as required by law, regulation, legal,
administrative or regulatory process (the “Recipient Parties”) without Leidos’ prior consent and without changing the limitation of liability as defined below. However, the Recipients acknowledge and agree that the Recipient
Parties may only have the right to rely on the Work Products provided Leidos and the Recipient Parties enter into a use agreement substantially in the form of this Use Agreement or as otherwise agreed to in writing. For the avoidance of doubt, no
such agreement shall be required of persons receiving the Work Products from any Recipient or any Recipient Party as a result of a disclosure required by law, regulation, legal, administrative or regulatory process. 

The information in this document is proprietary to Leidos. 

It may not be used, reproduced, disclosed, or exported without the written approval of Leidos. 

 Leidos Proprietary 

 

  

	4.	 No employee of Leidos shall have individual liability to the Recipients. To the extent permitted by law, the
total aggregate liability of Leidos for any and all claims arising out of the MPSA, TA, this Use Agreement, and all other use agreements related to the Portfolio and any party’s use of or reliance upon the Work Products, including any claims
based upon negligence, errors, omissions, strict liability, breach of contract, contribution, or indemnity, shall not exceed one hundred fifty thousand dollars (U.S. $150,000.00), which limitation of liability shall not apply to any claims arising
from fraud, gross negligence or willful misconduct by Leidos. Leidos agrees that its costs related to developing the Report and the other Work Products are for the account of Client. 

 

	5.	 In no event and under no circumstances shall Leidos be liable to the Recipients for any principal, interest,
loss of anticipated revenues, earnings, profits, increased expense of operations, loss by reason of shutdown or non-operation due to late completion or otherwise or for any other economic, consequential, indirect or special damages.

  

	6.	 Any dispute or action which arises under this Use Agreement or which relates in any way to this Use Agreement,
the subject matter of this Use Agreement, or the Recipients’ use of or reliance upon the Work Products shall be subject to the exclusive jurisdiction of the U.S. District Court for the Southern District of New York State located in the City and
County of New York or, if that court does not have subject matter jurisdiction, in any State court located in the City and County of New York. Each party to this Use Agreement (i) agrees that such party shall bring any and all claims which
arise under this Use Agreement or which relate in any way to this Use Agreement, the subject matter of this Use Agreement, or the Recipients’ use of or reliance upon the Work Products (whether based on contract, tort or otherwise) solely in
such courts and that such claims shall be heard and determined exclusively in such courts, (ii) waives, to the fullest extent such party may effectively do so, the defense of an inconvenient forum, and (iii) agrees that a final judgment of
such courts shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

  

	7.	 This Use Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.
The parties also agree that New York law will apply to any claim and/or litigation arising out of, or in any way related to, the use of or reliance upon the Work Products. 

 

	8.	 The parties to this Use Agreement shall comply with all applicable United States export, sanctions, and foreign
import laws, rules, and regulations in the performance of the parties’ responsibilities and obligations under this Use Agreement. Without limiting the generality of the foregoing, the parties shall not provide or disclose any U.S.-origin
products, know-how, technical data, documentation, or other products or materials furnished to it pursuant to this Use Agreement, to any person, party, or in any manner which would constitute a violation of the export control or sanctions
regulations of the United States then in effect. 

 Leidos Proprietary 

 

 ACKNOWLEDGED & AGREED 

MUFG BANK, LTD., not in its individual capacity, but solely as the Intercreditor Agent 

 

			
	Signature	 	 
	Name	 	 
	Title	 	 

 LEIDOS ENGINEERING, LLC 
  

			
	Signature	 	 
	Name	 	 
	Title	 	 

  

  
 [GSRP - Signature Page to
Leidos Use Agreement] 

 EXHIBIT H 

to Note Purchase Agreement 

FORM OF OPERATING STATEMENT 

See attached. 

																																																													
	GSRP Portfolio II LLC	  	Historical Financials	 	  	Budgeted Financials	 	  	Variance (TTM)	 
	 OPERATING STATEMENT
	  	Q1 2021	 	  	Q2 2021	 	  	Q3 2021	 	  	Q4 2021	 	  	2021	 	  	Q1 2021	 	  	Q2 2021	 	  	Q3 2021	 	  	Q4 2021	 	  	2021	 	  	Q1 2021	 	  	Q2 2021	 	  	Q3 2021	 	  	Q4 2021	 	  	2021	 
	 Key Metrics
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Technical
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Production (MWh)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Investment Performance Index (IPI)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Operating Performance Index (OPI)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Availability (%)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Financial Summary
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 PPA revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 SREC / REC revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Net metering revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Merchant revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Capacity revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Rental income
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Other revenue
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total Revenue
	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 	  	$	0	 
	 (-) O&M
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) 3rd-party asset management fees
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Administrative expense (incl. insurance)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Property tax
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Land lease
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Other
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total Expenses
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 EBITDA
	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 	  	$	 0	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 EBITDA Margin (%)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (+) Interest income
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 (-) Project-level debt service
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 (-) Capex
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 (+/-) Change of working capital & reserves
	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Cash flow from operations at portfolios
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 (-) Distributions to third parties
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Management fee
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 (-) Sponsor expenses
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 CFADS
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 (-) Interest expense
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
	 (-) Amortization
	  				  				  				  				  	 	—  	 	  				  				  				  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Cash flow available to Equity
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Senior Secured Debt
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Debt — BoP
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	(+) Issuance	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	(-) Amortization	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	Debt — EoP	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Interest Accrued
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Interest Expense
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			

 EXHIBIT I 

to Note Purchase Agreement 

FORM OF 

JOINDER AGREEMENT 

This Joinder Agreement (this “Agreement”), dated as of
[            ], 20[__] is made by [INSERT NAME OF NEW GUARANTOR], (the “New Guarantor”) in favor of MUFG Union Bank, N.A., as First Lien Collateral Agent (in such
capacity, together with its permitted successors in such capacity, “First Lien Collateral Agent”), and each of the Purchasers under the Note Purchase Agreement referred to below. 

Reference is made to that certain Note Purchase Agreement, dated as of October 1, 2021 (as amended, restated, supplemented or otherwise
modified from time to time, the “Note Purchase Agreement”), by and among GSRP Portfolio II LLC, a Delaware limited liability company, GSRP Portfolio II HoldCo LLC, a Delaware limited liability company, the Guarantors from time to
time party thereto, the purchasers from time to time party thereto, MUFG Bank, Ltd., as Intercreditor Agent, the First Lien Collateral Agent and MUFG Union Bank, N.A., as Notes Agent. All capitalized terms used herein shall have the respective
meanings specified, directly or by reference, in Exhibit A to the Note Purchase Agreement unless otherwise defined herein or unless the context requires otherwise. 

The undersigned is entering into this Agreement in order to become a Guarantor under the Note Purchase Agreement. 

The undersigned hereby becomes a Guarantor under the Note Purchase Agreement and agrees to comply with the terms thereof. 

The undersigned hereby acknowledges, agrees and confirms that, by the execution of this Agreement, the undersigned will be deemed to be a
party to the Note Purchase Agreement, and, from and after the date hereof, shall have all of the rights and obligations of a Guarantor thereunder as if it had executed the Note Purchase Agreement and this Agreement shall be deemed a Note Document
under the Note Purchase Agreement. The undersigned hereby ratifies, as of the date hereof, and accedes to and agrees to be bound by, all of the terms, provisions and conditions applicable to a Guarantor contained in the Note Purchase Agreement. 

The New Guarantor hereby makes the representations and warranties set forth in the Note Purchase Agreement with respect to itself and its
obligations under this Agreement, as if each reference in such articles and sections in the Note Purchase Agreement included reference to this Agreement, in each case solely with respect to such New Guarantor and its Subsidiaries. Subject to the
execution of this Agreement by the First Lien Collateral Agent, the Schedules to the Note Purchase Agreement shall be updated (i) to revise any existing Schedule to reflect the activities, events and other matters applicable to such New
Guarantor and its Subsidiaries required to be disclosed in order to make such representations and warranties, in each case to the extent that any such matters do not violate or contravene the provisions of the Financing Documents and (ii) otherwise
to the reasonable satisfaction of the Required Holders, in each case as set forth on Attachment 1 hereto. 

  
 I-1 

 This Agreement may be executed in two or more counterparts, each of which shall constitute
an original but all of which when taken together shall constitute one and the same instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by electronic or facsimile transmission shall be effective as delivery of a manually executed counterpart of this Agreement or
such other document or instrument, as applicable. 
 This Agreement shall be governed by, and construed under, the laws of the State of New
York. THE NEW GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY.  
 [Remainder of page intentionally left blank; signature page follows.] 

  
 I-2 

 IN WITNESS WHEREOF, the New Guarantor has caused this Joinder Agreement to be duly executed
and delivered as of the day and year first above written. 
  

			
	[                            ],
	as New Guarantor
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	GSRP PORTFOLIO II LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP PORTFOLIO II HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP BOND 2 HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP CHAMBERS HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 I-3 

 
			
	GSRP GREAT JONES 2 HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP HDS TEB HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP KENMARE HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP KING HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP LAFAYETTE HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 I-4 

 
			
	GSRP SPRUCE HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	GSRP PARK 2 HOLDCO LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	Accepted and agreed:
	
	 MUFG UNION BANK, N.A.,
 as
First Lien Collateral Agent

		
	By:	 	 
		 	Name:
		 	Title:

  
 I-5 

 Attachment 1 

to Joinder Agreement 

Schedules 

  
 I-6 

 FORM OF SUBORDINATION AGREEMENT 

THIS SUBORDINATION AGREEMENT, dated as of ___________, 20__ (as amended, restated, amended and restated, supplemented or otherwise
modified from time to time in accordance with the terms hereof, this “Agreement”), by and among GSRP Portfolio II LLC, a Delaware limited liability company (the “Company”), GSRP Portfolio II HoldCo
LLC, a Delaware limited liability company (“Holdings”), certain other subsidiaries of the Company, as guarantors under the Note Purchase Agreement (as defined below) (the “Guarantors” and together the
Company, the “Obligors”), MUFG Union Bank, N.A., in its capacity as first lien collateral agent for the First Lien Secured Parties (in such capacity, together with its successors and assigns, the “First Lien
Collateral Agent”), [_________, in its capacity as second lien collateral agent for the Second Lien Secured Parties (as defined in the Intercreditor Agreement) (in such capacity, together with its successors and assigns, the
“Second Lien Collateral Agent”)]1 
 and __________, as the noteholder representative (the “Subordinate Noteholder
Representative”) for the holders of the Series _____ Notes (defined below) under that certain Supplemental NPA (as defined below). Capitalized terms used in this Agreement (including in this introductory paragraph) have the
meanings assigned to them in Section 1.1 below. 
 R E C I T A L S: 

WHEREAS, the Obligors, Holdings, the purchasers party thereto, the First Lien Collateral Agent, MUFG Bank, Ltd., in its capacity as
Intercreditor Agent (as defined in the Note Purchase Agreement), and MUFG Union Bank, N.A., in its capacity as Notes Agent (as defined in the Note Purchase Agreement) have entered into that certain Note Purchase Agreement, dated as of October 1,
2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), pursuant to which, subject to the terms and conditions thereof, the Company issued and
sold to each initial purchaser and each initial purchaser party thereto purchased from the Company senior secured notes in an aggregate principal amount set forth therein (the “Senior Notes”); 

WHEREAS, the Company, the other Obligors, Holdings, MUFG Bank, Ltd., as administrative agent (the “Administrative
Agent”), the First Lien Collateral Agent, and the issuing banks and lenders party thereto have entered into that certain Credit and Guaranty Agreement, dated as of
[                    ], 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “LC
Facility Credit Agreement”), providing, subject to the terms and conditions thereof, for letters of credit, the reimbursement of amounts drawn on such letters of credit, and other financial accommodations to the Company in an aggregate
principal amount set forth therein; 
 [INSERT ADDITIONAL RECITALS AS NEEDED RELATING TO ANY OTHER INTERIM
ISSUANCES OF ADDITIONAL PERMITTED SECURED INDEBTEDNESS OR ADDITIONAL SECURED NOTES OR SUBORDINATE NOTES UNDER THE NOTE PURCHASE AGREEMENT PRIOR TO THIS SUBORDINATION AGREEMENT] 

 
  

	1	 Note to Draft: To be inserted to the extent any second lien Subordinate Notes have been issued
prior to the date of this Subordination Agreement. 

 WHEREAS, pursuant to the terms, conditions and provisions of the Collateral Agency
and Intercreditor Agreement, dated as of October 1, 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”) among the Company, the other
Obligors, Holdings, MUFG Bank, Ltd., in its capacity as Intercreditor Agent (as defined in the Note Purchase Agreement), the Administrative Agent, MUFG Union Bank, N.A., in its capacity as Notes Agent (as defined in the Note Purchase Agreement), the
First Lien Collateral Agent, each purchaser party thereto and each of the other party from time to time party thereto, the parties have agreed to, among other things, determine certain rights, obligations and priorities in respect of the liens
thereunder; 
 WHEREAS, pursuant to the terms of the Note Purchase Agreement, the Company may issue and sell, subject to the terms of
the Note Purchase Agreement, an unlimited amount of subordinate notes in accordance with the terms of the Note Purchase Agreement and one or more supplemental note purchase agreements; 

WHEREAS, pursuant to that certain [Number] Supplemental Note Purchase Agreement, dated as of the date hereof (as amended,
restated, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time, the “Supplemental NPA”), by and among the Company, the other Obligors, Holdings, the [Second Lien Collateral
Agent][Subordinate Noteholder Representative] and the Purchasers party thereto, the Purchasers have agreed to purchase Series          unsecured [fixed] rate term notes issued by the Company in an
aggregate principal amount of up to $             (the “Series             Notes”); 

WHEREAS, in accordance with the Senior Debt Documents, the Senior Creditors have required the execution and delivery of this Agreement
by the Subordinate Noteholder Representative, on behalf of each Subordinated Creditor, in order to set forth the relative rights and priorities of Senior Agent, the other First Lien Secured Parties, the Subordinate Noteholder Representative and the
Subordinated Creditors under the Financing Documents; and 
 WHEREAS, as of the date hereof, the First Lien Collateral Agent is the
Applicable Collateral Agent (under and as defined in the Intercreditor Agreement). 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
Definitions and Interpretation. 
 1.1 Definitions. Capitalized terms not otherwise defined in this
Agreement shall have the meanings attributed to them in the Supplemental NPA as in effect on the date hereof, including, to the extent applicable, by reference to the Note Purchase Agreement, or, if not defined herein or therein, the meanings given
to those terms in the Uniform Commercial Code as in effect from time to time in the State of New York. The following terms used herein (including in the introductory paragraph hereof and the recitals hereto) shall have the following respective
meanings: 
 “Act of Required Secured Parties” has the meaning given in the Intercreditor Agreement. 

“Administrative Agent” has the meaning given in the recitals. 

  
 2 

 “Agreement” has the meaning given in the introductory paragraph.

 “Bankruptcy Code” shall mean Title 11 of the United States Code, as amended from time to time, and any successor
statute and all rules and regulations promulgated thereunder. 
 “Collateral” has the meaning given in the
Intercreditor Agreement. 
 “Company” has the meaning given in the introductory paragraph. 

“Depositary Agreement” shall mean that certain Depositary Agreement, dated as of October 1, 2021, among the
Company, the Administrative Agent, the First Lien Collateral Agent, the Depositary Bank and the other Persons from time to time party thereto. 

“Depositary Bank” shall mean MUFG Union Bank, N.A., as the depositary bank, and its successors and assigns in such
capacity. 
 “Distribution” shall mean, with respect to any indebtedness, ownership interest or other obligations,
(a) any payment or distribution by any Obligor of cash, securities or other property, by set-off or otherwise, on account of such indebtedness, ownership interest or obligation, including, without limitation, any adequate protection payments,
reimbursement of fees and expenses and indemnities, or (b) any redemption, purchase or other acquisition of such indebtedness, ownership interest or obligation by any Obligor. 

“Enforcement Action” shall mean (a) to take from or for the account of any Obligor, by set-off or in any other
manner, the whole or any part of any moneys which may now or hereafter be owing by any Obligor (other than Permitted Payments expressly permitted to be paid in accordance with Section 2.2), (b) to sue for payment of all or any
portion of the Subordinated Debt, or to initiate or participate with others in any suit, action or proceeding against any Obligor to (i) enforce payment of or to collect the whole or any part of the Subordinated Debt, (ii) commence or
participate with others in commencing a Proceeding in respect of any Obligor or any assets of any Obligor or (iii) commence judicial enforcement of any of the rights and remedies under the Subordinated Debt Documents or applicable law with
respect to the Subordinated Debt, (c) to accelerate the Subordinated Debt, (d) to cause any Obligor to honor any redemption or mandatory prepayment obligation under any Subordinated Debt Document (other than Permitted Payments expressly
permitted to be paid in accordance with Section 2.2) or (e) to take any action under the provisions of any state or federal law, including, without limitation, the Uniform Commercial Code, or under any contract or agreement, to
enforce, foreclose upon, take possession of or sell any property or assets of any Obligor. 
 “First Lien Collateral
Agent” has the meaning given in the introductory paragraph. 
 “Holdings” has the meaning given in the
recitals. 
 “Intercreditor Agreement” has the meaning given in the recitals. 

“LC Facility Credit Agreement” has the meaning given in the recitals. 

“Note Purchase Agreement” has the meaning given in the recitals. 

  
 3 

 “Obligors” has the meaning given in the recitals. 

“Paid in Full” or “Payment in Full”, when used in connection with the Senior Debt, shall mean
the occurrence of all of the following: (i) termination or expiration of all commitments to extend credit that would constitute Senior Debt, (ii) payment in full in cash of all of the Senior Debt (other than outstanding letters of credit
(which shall be addressed as provided in clause (iii) below) and contingent reimbursement or indemnity obligations as to which no claim has been asserted), including interest, fees or other amounts accruing (or which would, absent the
commencement of any Proceeding of any Obligor, accrue) on or after the commencement of any Proceeding of any Obligor, whether or not such amounts would be allowed in any Proceeding of any Obligor, and including any make-whole amount or other premium
on any such Senior Debt and (iii) termination, cancellation, expiration or cash collateralization at 102.5% of the available amount (in a manner reasonably acceptable to the Secured Debt Representative of the relevant Senior Creditors that have
reimbursement obligations with respect thereto and the applicable issuing banks) of all outstanding letters of credit and obligations in connection therewith or alternative arrangements satisfactory to the applicable Senior Creditors, the applicable
issuing bank and the other applicable Secured Parties that have reimbursement obligations with respect thereto have been made; provided that Senior Debt shall be deemed to be Paid in Full at such time as the applicable Secured Debt
Representative thereof has expressly acknowledged in a “payoff letter” or comparable written document the termination of the Senior Debt Documents, the payment in full of all outstanding obligations thereunder (excluding contingent
obligations to the extent no claim giving rise thereto has been asserted), the collateralization (or termination) of all outstanding letters of credit (if any) in accordance with the Senior Debt Documents and the termination of all commitments under
the Senior Debt Documents. 
 “Permitted Judgment Liens” shall mean any Lien arising as a result of any judgment
received in an Enforcement Action otherwise permitted hereunder; provided, that, such judgment Lien shall be subordinated to the Senior Debt to the extent set forth herein. 

“Permitted Payments” has the meaning given in Section 2.2. 

“Post-Petition Interest” shall mean interest accruing in respect of Senior Debt after the commencement of any
Proceeding by or against any Obligor, at the rate applicable to such Senior Debt pursuant to the applicable Senior Debt Documents, whether or not such interest is allowed as a claim enforceable against such Obligor in a bankruptcy case under the
Bankruptcy Code, and any other interest that would have accrued but for commencement of such Proceedings. 

“Proceeding” shall mean any voluntary or involuntary insolvency, bankruptcy, receivership, custodianship, liquidation,
dissolution, reorganization, assignment for the benefit of creditors, appointment of a custodian, receiver, trustee or other officer with similar powers or any other proceeding for the liquidation, dissolution or other winding up of a Person. 

“Recovery” has the meaning given in Section 2.3(h). 

“Second Lien Collateral Agent” has the meaning given in the introductory paragraph. 

“Secured Debt Representative” has the meaning given in the Intercreditor Agreement. 

  
 4 

 “Senior Agent” shall mean the Applicable Collateral Agent under and
as defined in the Intercreditor Agreement. 
 “Senior Creditors” shall mean the First Lien Secured Parties (as
defined in the Intercreditor Agreement) and, from and after the joinder of a Second Lien Collateral Agent to the Intercreditor Agreement, the Second Lien Secured Parties (as defined in the Intercreditor Agreement). 

“Senior Debt” shall mean all obligations, liabilities and indebtedness of every nature of the Obligors from time to
time owed to any Senior Creditor under the Senior Debt Documents, including, without limitation, the principal amount of all debts, claims and indebtedness, accrued and unpaid interest, and all fees, costs and expenses, whether primary, secondary,
direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the filing of a Proceeding, including a Proceeding under the Bankruptcy Code, together with (a) any
amendments, modifications, renewals or extensions thereof to the extent not prohibited by the terms of this Agreement and (b) any Post-Petition Interest. 

“Senior Debt Documents” shall mean the First Lien Documents (as defined in the Intercreditor Agreement) and, from and
after the joinder of a Second Lien Collateral Agent to the Intercreditor Agreement, the Second Lien Documents (as defined in the Intercreditor Agreement). 

“Senior Notes” has the meaning given in the recitals. 

“Series             Notes” has the meaning given in the
recitals. 
 “Subordinate Noteholder Representative” has the meaning given in the introductory paragraph. 

“Subordinated Creditor” shall mean the Subordinate Noteholder Representative and all purchasers and holders of the
Subordinate Notes. 
 “Subordinated Debt” shall mean all of the obligations, liabilities and indebtedness of the
Obligors to the Subordinated Creditors evidenced by or incurred pursuant to the Subordinate Notes and the other the Subordinated Debt Documents, including, without limitation, the principal amount of all debts, claims and indebtedness, including,
without limitation, accrued and unpaid interest and all fees, costs and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the
filing of a Proceeding under the Bankruptcy Code, together with any amendments, modifications, refinancings, renewals or extensions thereof to the extent not prohibited by the terms of this Agreement. 

“Subordinated Debt Documents” shall mean this Agreement, the Subordinate Notes, the [Number] Supplemental NPA,
the Note Purchase Agreement solely as it relates to the Subordinated Debt and all other documents, agreements and instruments now existing or hereinafter entered into evidencing or pertaining to all or any portion of the Subordinated Debt. 

[”Subordinated Debt Final Maturity Date”shall mean
            .] 

  
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 “Supplemental NPA” has the meaning given in the recitals. 

1.2 Interpretation. Except as otherwise expressly provided or unless the context otherwise requires, the rules of interpretation
set forth in Section 23.4 of the Note Purchase Agreement shall apply to this Agreement. 
 2. Subordination. 

2.1 Subordination of Subordinated Debt to Senior Debt. Each Subordinated Creditor by its acceptance of the Subordinated
Debt Documents (whether upon original issue or upon transfer or assignment) covenants and agrees, notwithstanding anything to the contrary contained in any of the Subordinated Debt Documents, that the payment of any and all of the Subordinated Debt
shall be subordinate and subject in right and time of payment, to the extent and in the manner hereinafter set forth, to the Payment in Full of all Senior Debt, whether now outstanding or hereafter incurred; provided that nothing contained
herein shall modify the obligations of the Obligors to Subordinated Creditors set forth in the Subordinated Debt Documents. Each Senior Creditor, whether its Senior Debt is now outstanding or hereafter created, incurred, assumed or guaranteed, shall
be deemed to have acquired Senior Debt in reliance upon the provisions contained in this Agreement, and the subordination contemplated by this Section 2 shall be for the benefit of, and enforceable by, each such Senior Creditor. 

2.2 Permitted Subordinated Debt Payments. Except as expressly set forth in this Section 2, unless and until the
Senior Debt is Paid in Full, no Obligor shall directly or indirectly, declare, order, pay, make or set apart any sum or 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 the Subordinated Debt except in accordance with the terms of the Subordinated Debt Documents as in effect on the date hereof and only to the extent such
redemption, purchase, defeasance or payment is made with Permitted Payments, and the Subordinated Creditors shall not accept, take, receive or retain, by payment, in cash or in kind, by way of setoff, or in any other manner, from or on behalf of any
Obligor the whole or any part of any sums which may now or hereafter be owing to the Subordinated Creditors, other than, in each case, payments made pursuant to and in accordance with Section 3.1(b)(xiii) of the Depositary Agreement as in
effect on the date hereof or with amounts to the extent permitted to be distributed by the Company pursuant to Section 3.3(b) of the Depositary Agreement as in effect on the date hereof (collectively, the “Permitted
Payments”). Subject to the conditions set forth herein, the Obligors may pay to the Subordinated Creditors, and the Subordinated Creditors may accept and receive on account of the Subordinated Debt, Permitted Payments. 

2.3 Liquidation, Dissolution, Bankruptcy. In the event of any Proceeding with respect to any Obligor: 

(a) All Senior Debt shall first be Paid in Full before any Distribution, whether in cash, securities or other property, shall
be made to any Subordinated Creditor on account of any Subordinated Debt. 

  
 6 

 (b) Any Distribution, whether in cash, securities or other property which
would otherwise, but for the terms hereof, be payable or deliverable in respect of the Subordinated Debt shall be paid or delivered directly to Senior Agent (to be held and/or applied by Senior Agent in accordance with the terms of the Senior Debt
Documents) until all Senior Debt is Paid in Full. Each Subordinated Creditor irrevocably authorizes, empowers and directs any debtor, debtor in possession, receiver, trustee, liquidator, custodian, conservator or other Person having authority, to
pay or otherwise deliver all such Distributions to Senior Agent. Each Subordinated Creditor hereby irrevocably authorizes, empowers and appoints Senior Agent as its agent and attorney in fact to demand, sue for, collect and receive any and all such
Distributions upon prior written demand from the Senior Agent to such Subordinated Creditor; provided that such Distributions are to be held and/or applied by Senior Agent in accordance with the terms of the Senior Debt Documents until all
Senior Debt is Paid in Full, and provided further that Senior Agent shall not have any obligation to demand, sue for, collect and receive any such Distributions. 

(c) The Subordinated Creditors shall retain, exclusively, all rights to enforce and to vote all proofs of claim and otherwise
to act in any Proceeding in their capacity as Subordinated Creditors (including the right to vote to accept or reject any plan of reorganization, composition, arrangement or liquidation) to the fullest extent provided by applicable law (it being
understood that such rights shall not be interpreted to modify the rights, agreements and obligations of Subordinated Creditors under this Agreement). Each Subordinated Creditor agrees that it will not vote its claim, or take any other action, in
such Proceeding in any manner inconsistent with the terms of this Agreement. Without limiting the generality of the foregoing, each Subordinated Creditor agrees that it will not (i) contest or object to any request by or on behalf of the Senior
Creditors for adequate protection, (ii) support, endorse, propose, submit, whether directly or indirectly, any plan of reorganization for any Obligor or any subsidiary thereof that provides for or contemplates the impairment of repayment of the
Senior Debt (or any portion thereof) unless the Required Secured Parties (acting in their sole discretion) shall have consented thereto in writing, (iii) take (or support any Person in taking) any action, vote any proofs of claim, or vote on
any plan of reorganization in any manner that would have the effect of impairing or reducing the amount of or the interest rate on or delaying the time of payment of any Senior Debt or be inconsistent with the terms of this Agreement, (iv) take
(or support any Person in taking) any action to (A) contest the validity, perfection, priority or enforceability of any Senior Debt, any Lien or security interest of any Senior Creditor in any assets or property of any Obligor or any guarantee
thereof, (B) contest the relative rights and duties of the Senior Creditors with respect to any collateral securing or purporting to secure the Senior Debt, or (C) contest, impair, reduce or adversely affect the Subordinated
Creditors’ obligations and agreements set forth in this Agreement, (v) seek or request relief from or modification of the automatic stay or any other stay in any Proceeding with respect to any Obligor or (vi) oppose or seek to
challenge (or support any Person in opposing or seeking to challenge) any claim by the Senior Agent or any other Senior Creditor for allowance in any Proceeding of Senior Debt consisting of Post-Petition Interest, premiums, fees or expenses. 

  
 7 

 (d) The Senior Debt shall continue to be treated as Senior Debt and the
provisions of this Agreement shall continue to govern the relative rights and priorities of Senior Creditors and Subordinated Creditors even if all or part of the Senior Debt or the security interests securing the Senior Debt are subordinated, set
aside, avoided, invalidated or disallowed in connection with any such Proceeding, and this Agreement shall be reinstated if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by any holder of Senior Debt or
any representative of such holder. 
 (e) Upon any payment or distribution of assets of any Obligor, the Subordinated
Creditors shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such Proceeding is pending for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of the Senior Debt and other indebtedness, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or this Section 2.2. 

(f) Until the Senior Debt is Paid in Full, no Subordinated Creditor shall consent to the use of “cash collateral” (as
such term is defined in Section 363(a) of the Bankruptcy Code) nor provide any financing that would be senior to or pari passu with the Senior Debt under Section 364 of the Bankruptcy Code, or support any other Person in providing
such financing, unless the Senior Agent (acting upon an Act of Required Secured Parties (acting in their sole discretion)) shall have agreed to such use of cash collateral or financing, and no Subordinated Creditor shall raise any objection (or
support any other Person objecting) to any such use of cash collateral or financing supported by the Senior Agent or other Senior Creditors. 

(g) If, in any Proceeding, debt securities of any reorganized Obligor are distributed pursuant to a plan of reorganization,
arrangement, compromise or liquidation or similar dispositive restructuring plan on account of the Senior Debt and/or the Subordinated Debt, then any such debt securities distributed to the Senior Creditors shall constitute Senior Debt hereunder and
any such debt securities distributed to any Subordinated Creditor shall constitute Subordinated Debt hereunder, and the provisions of this Agreement will survive the distribution of such debt securities pursuant to such plan and will apply with like
effect to such debt securities. 
 (h) If any Senior Creditor is required in any Proceeding or otherwise to turn over or
otherwise pay to the estate of any Obligor any amount paid in respect of Senior Debt (a “Recovery”), then such Senior Creditor shall be entitled to a reinstatement of its Senior Debt with respect to all such recovered amounts
on the date of such Recovery, and from and after the date of such reinstatement the Senior Debt shall be deemed not to have been Paid in Full for all purposes hereunder. If this Agreement shall have been terminated prior to such Recovery, this
Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. This
Section 2.3(h) shall survive termination of this Agreement. 

  
 8 

 2.4 Subordinated Debt Standstill Provisions. 

(a) No Subordinated Creditor shall, without the prior written consent of Senior Agent (acting upon an Act of Required Secured
Parties), take any Enforcement Action with respect to the Subordinated Debt, until the earliest to occur of the following: 

(i) the acceleration or final maturity (after giving effect to any extensions thereof) of the Senior Debt; 

(ii) the commencement of any Proceeding with respect to any Obligor (other than any such Proceeding initiated by a Subordinated
Creditor); 
 (iii) the date the Senior Debt is Paid in Full; 

(iv) the commencement by the Senior Agent (acting upon an Act of Required Secured Parties) of any foreclosure proceedings or
other exercise of remedies against any Obligor to realize upon any material portion of the Collateral; 
 (v) any sale of all
or substantially all of the assets of the Obligors (whether by merger, consolidation, recapitalization, sale of assets, foreclosure or otherwise) in connection with the exercise of remedies by the Senior Agent under the Senior Debt Documents; 

(vi) the Subordinated Debt Final Maturity Date; and 

(vii) the passage of two hundred seventy (270) days from the date of Senior Agent’s receipt of a written notice from
any Subordinated Creditor if the event of default under the Subordinated Debt Documents described in reasonable detail therein shall not have been cured or waived within such period. 

Notwithstanding the foregoing, each Subordinated Creditor (i) subject to the terms of this Agreement, may file and vote proofs of claim
against each Obligor in any Proceeding involving such Person, (ii) subject to the terms of this Agreement, may take such actions as are reasonably necessary in such Proceeding to establish and preserve such claim, (iii) may commence legal
proceedings to the extent, but only to the extent, necessary to toll the running of any applicable statute of limitations or similar restriction on claims, or to assert a compulsory crossclaim or counterclaim against any Obligor, (iv) may
exercise rights and remedies for specific performance or equitable relief to compel any Obligor to comply with any non-payment obligations under the Subordinated Debt Documents to which such Obligor is a party so long as it is not accompanied by any
collection action, (v) may take any non-judicial procedural action that may be required or desired as a precondition to acceleration or relating to preservation of rights (such as giving a notice of default or reservation of rights (including
reservation of acceleration rights subject to the terms of this Agreement)), (vi) may impose a default rate of interest that is otherwise permitted pursuant to the terms of this Agreement (provided that such default interest may be paid only
with the proceeds of Permitted Payments in accordance with this Agreement), (vii) upon the occurrence and during the continuance of an “Event of Default” under the Subordinated Debt Documents, may deliver to the Company a notice of
acceleration 

  
 9 

 
(provided that such acceleration is not effective until the earliest of the dates specified in clauses (i) through (vi) of this Section 2.4), (viii) may take any
action to enforce the terms of any subordination agreement with respect to any indebtedness or other obligation subordinated to the Subordinated Debt (other than to exercise any turnover rights thereunder which shall be subject to the terms of this
Agreement), (ix) may bid for or purchase Collateral at any private or judicial foreclosure upon such Collateral, or (x) receive any remaining proceeds of Collateral after the Senior Debt has been Paid in Full and all commitments to lend
under the Senior Debt Documents shall be terminated. Any Distributions or other proceeds of any Enforcement Action obtained by any Subordinated Creditor which do not constitute Permitted Payments or are received by any Subordinated Creditor at any
time that an Event of Default has occurred and is continuing under the Senior Debt Documents shall in any event be held in trust by it for the benefit of Senior Agent and Senior Creditors and promptly paid or delivered to Senior Agent for the
benefit of Senior Creditors in the form received until all Senior Debt is Paid in Full. 
 Notwithstanding anything contained
herein to the contrary, if following the acceleration of the Senior Debt by Senior Creditors such acceleration is rescinded (whether or not any existing “Event of Default” under any Senior Debt Document has been cured or waived), then any
and all Enforcement Actions that were permitted to be taken by each Subordinated Creditor under Section 2.4(a)(i) solely as a result of such acceleration shall likewise be rescinded, and such rescission by Subordinated Creditors shall
not prejudice the rights of Subordinated Creditors except as may otherwise be contemplated under or consistent with this Agreement. 

(b) Each Obligor hereby agrees that in the event that any holder of Subordinated Debt commences any Enforcement Action within
ten (10) days after the expiration of any remedy standstill period imposed pursuant to this Agreement, it will not assert, and hereby waives (to the extent permitted by applicable law) any right to assert, as a defense or otherwise, that such
exercise of rights, remedies and/or enforcement actions by such Subordinated Creditor are untimely or that such Subordinated Creditor’s delay in commencing such Enforcement Action constitutes a waiver of any of its rights or remedies or is
otherwise commercially unreasonable. Furthermore, each Obligor agrees that any applicable statute of limitations that would otherwise prevent any holder of Subordinated Debt from pursuing any claim with respect to the Subordinated Debt shall be
tolled upon the commencement of, and until the expiration of, any remedy standstill period imposed pursuant to this Agreement, and each Obligor hereby agrees not to assert, and hereby waives (to the extent permitted by applicable law) any right to
assert as a defense, any applicable statute of limitations without giving effect to such tolling. 
 (c) No Subordinated
Creditor will contest, protest or object to any exercise of remedies or other foreclosure proceeding or action brought by the Senior Agent or any Senior Creditor or any other exercise by the Senior Agent or any Senior Creditor of any rights and
remedies relating to the Collateral under the Senior Debt Documents and will not object to the forbearance by the Senior Agent or any Senior Creditor from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights
or remedies relating to the Collateral. 

  
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 2.5 Incorrect Payments. If any payment or Distribution (whether in the
form of cash, securities or other property) on account of the Subordinated Debt not permitted to be made by the Obligors or received by any Subordinated Creditor under this Agreement is made and received by any Subordinated Creditor, the full amount
of such payment or Distribution shall be held in trust (but shall not be required to be segregated) by such Subordinated Creditor for the benefit of Senior Agent and Senior Creditors and shall be paid over to Senior Agent, within 10 days after the
earlier of (i) written demand therefor from Senior Agent; and (ii) any officer of such Subordinated Creditor having responsibility for managing the investment evidenced by the Subordinated Debt obtaining knowledge of the receipt of such
prohibited payment. 
 2.6 Legend. Until the termination of this Agreement in accordance with Section 15, each
Subordinated Creditor will cause to be inserted on the face of each Subordinate Note as well as any renewals or replacements thereof, the following legend: 

“This instrument and the indebtedness evidenced hereby are subordinated in the manner and to the extent set forth in that
certain Subordination Agreement (as amended, restated, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the “Subordination Agreement”) dated as of
                , 20         by and among GSRP Portfolio II LLC, a Delaware limited liability company, GSRP
Portfolio II HoldCo LLC, a Delaware limited liability company, certain other subsidiaries of the Company, as guarantors, MUFG Union Bank, N.A., as the Senior Agent (as defined therein) for the Senior Creditors (as defined therein) and the
Subordinate Noteholder Representative (as defined therein), to the prior Payment in Full (as defined therein) of the Senior Debt (as defined therein), and each holder of this instrument, by its acceptance hereof, irrevocably agrees to be bound by
the provisions of the Subordination Agreement.” 
 2.7 Obligations Hereunder Not Affected. All rights and interest of the
Senior Creditors and the Senior Agent hereunder, and all agreements and obligations of each Subordinated Creditor and each Obligor, shall (subject in any case to Sections 3.1 and 3.2) remain in full force and effect irrespective of:

 (a) any lack of validity or enforceability of any document evidencing Senior Debt, or any lack of validity, perfection,
priority or enforceability of any Lien pursuant to any Senior Debt Document; 
 (b) any change in the time, manner or place
of payment of, or any other term of, all or any of the Senior Debt, or any other amendment or waiver of or any release or consent to departure from any of the Senior Debt Documents; 

(c) any exchange, release or non-perfection of any security interest in collateral for all or any of the Senior Debt; 

(d) any failure of the Senior Agent or any other Senior Creditor to assert any claim or to enforce any right or remedy against
any other party hereto under the provisions of this Agreement or any other Senior Debt Document; 

  
 11 

 (e) any reduction, limitation, impairment or termination of the Senior Debt
for any reason (other than the defense of Payment in Full of the Senior Debt), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to (and each Obligor and each Subordinated Creditor hereby waives
(to the extent not prohibited by applicable law) any right to or claim of) any defense (other than the defense of Payment in Full of the Senior Debt) or setoff, counterclaim, recoupment or termination whatsoever by reason of invalidity, illegality,
nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any Senior Debt; and 

(f) any other circumstance which might otherwise constitute a defense (other than the defense of the Payment in Full of the
Senior Debt) available to, or a discharge of, any Obligor in respect of the Senior Debt or any Subordinated Creditor in respect of this Agreement. 
 This
Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by any Senior Creditor or the Senior Agent upon the insolvency, bankruptcy
or reorganization of any Obligor or otherwise, all as though such payment had not been made. Each Subordinated Creditor acknowledges and agrees that the Senior Creditors and the Senior Agent may in accordance with the terms of any Senior Debt
Document, without notice or demand and without affecting or impairing such Subordinated Creditor’s obligations hereunder, but subject to Section 3.1, from time to time (i) renew, compromise, extend, increase, accelerate or
otherwise change the time for payment of, or otherwise change the terms of the Senior Debt or any part thereof, including, without limitation, to increase or decrease the rate of interest thereon or the principal amount thereof; (ii) take or
hold security for the payment of the Senior Debt and exchange, enforce, foreclose upon, waive and release any such security; (iii) apply such security and direct the order or manner of sale thereof as the Senior Agent and the Senior Creditors,
in their reasonable judgement, may determine; (iv) release and substitute one or more endorsers, warrantors, borrowers or other obligors; and (v) exercise or refrain from exercising any rights against any Obligor or any other Person. 

2.8 Subordination of Liens and Security Interests; Agreement Not to Contest; Agreement to Release Liens. Until such time as the
Senior Debt is Paid in Full, no Subordinated Creditor shall at any time take, accept, file, record or require any Lien in or on any or all of the Collateral or any other interest in property of any Obligor other than Permitted Judgment Liens. Until
all Senior Debt has been Paid in Full, any Liens of any Subordinated Creditor on account of the Subordinated Debt in the Collateral which may exist in breach of such Subordinated Creditor’s agreement pursuant to Section 3.2(a) or
Section 4.1(e) of this Agreement and any Permitted Judgment Liens shall in each case be and hereby are subordinated for all purposes and in all respects to the Liens of Senior Agent and Senior Creditors in the Collateral, any and all
Liens granted by any Obligor in favor of the Senior Agent shall in all respects be first and senior Liens, superior to any Liens in favor of Subordinated Creditors regardless of the time, manner or order of perfection of any such liens and security
interests. Without limiting any other rights and remedies available to the Senior Agent, Subordinated Creditors agree that any amounts received by or distributed to any of them pursuant to or as a result of Liens granted to them shall be held and
paid over to Senior Agent in accordance with Sections 2.3, 2.5 and 5 or any other provision of this Agreement. Each Subordinated Creditor agrees that it will not directly or indirectly, as a member of a creditors’ committee
in a Proceeding or otherwise, at any time initiate, prosecute, participate in any action, objection or other proceeding to challenge or otherwise contest the 

  
 12 

 
validity, perfection, priority or enforceability of the Senior Debt, the Senior Debt Documents, or the liens and security interests of Senior Agent and Senior Creditors in the Collateral securing
the Senior Debt; provided that, for the avoidance of doubt, such Subordinated Creditor’s status as a member of a creditors’ committee shall not be deemed to be a violation of the foregoing restriction for so long as such
Subordinated Creditor does not initiate, prosecute, and participate in (and abstains from) any action, objection or other proceeding to challenge or otherwise contest the validity, perfection, priority or enforceability of the Senior Debt, the
Senior Debt Documents, or the liens and security interests of Senior Agent and Senior Creditors in the Collateral securing the Senior Debt. Each Senior Creditor agrees that, except as may otherwise be contemplated under or consistent with this
Agreement, it will not at any time initiate, prosecute or participate in any claim, action, objection or other proceeding challenging the enforceability or validity of the Subordinated Debt or the Subordinated Debt Documents. In the event that any
Subordinated Creditor obtains any liens or security interests in the Collateral on account of the Subordinated Debt, such Subordinated Creditor shall (or shall cause its agent to) promptly execute and deliver to Senior Agent such termination
statements and releases as Senior Agent shall request to effect the release of the liens and security interests of such Subordinated Creditor in such Collateral. In furtherance of the foregoing, each Subordinated Creditor hereby irrevocably
(i) appoints Senior Agent its attorney-in-fact, with full power of substitution and with full authority in the place and stead of such Subordinated Creditor and in the name of such Subordinated Creditor or otherwise, to execute and deliver any
document or instrument which such Subordinated Creditor may be required to deliver pursuant to this Section 2.8 and (ii) authorizes the Senior Agent to file any Uniform Commercial Code termination statement, release or amendment
required to be delivered pursuant to this Section 2.8, provided that the Senior Agent shall have no obligation to file any such Uniform Commercial Code termination statement, release or amendment. 

3. Modifications. 

3.1 Modifications to Senior Debt Documents. Senior Creditors may at any time and from time to time without the consent of or
notice to any Subordinated Creditor, without incurring liability to any Subordinated Creditor and without impairing or releasing the obligations of any Subordinated Creditor under this Agreement, change the manner or place of payment or extend the
time of payment of or renew or alter any of the terms of the Senior Debt, or amend in any manner any Senior Debt Document; provided that Senior Creditors shall not, without the prior written consent of the Subordinate Noteholder Representative,
agree to any amendment, modification, waiver, supplement or refinancing to or of the Senior Debt Documents, the effect of which is to, (a) increase the principal amount of the Senior Debt to an amount greater than ten percent (10%) in
excess of the amount of Senior Debt permitted to be incurred under the Note Purchase Agreement as in effect on the date hereof; (b) amend Section 3.1 of the Depositary Agreement in a manner that would adversely impact the priority of
Permitted Payments or otherwise add any direct restrictions on the ability of any Obligor to repay the Subordinated Debt in addition to those set forth in the Senior Debt Documents in effect on the date hereof (provided that any modification of any
existing covenants or defaults, which has the effect of making them more restrictive, shall not be deemed, in and of itself, to be an additional restriction on the payment of the Subordinated Debt); or (c) change or amend any term of the Senior
Debt Documents relating to the purchase, assignment or participation of all or any portion of the Senior Debt to any Obligor or any of its respective Affiliates in a manner adverse to the Subordinated Creditor. The Senior Agent shall promptly notify
Subordinated Creditors in writing upon the Senior Agent’s exercise of remedies with respect to the Senior Debt Documents, provided that the failure to so notify Subordinated Creditors shall in no way impair the rights of the Senior Agent or the
Senior Creditors hereunder or thereunder or impose any liability upon Senior Agent. 

  
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 3.2 Modifications to Subordinated Debt Documents. Until the Senior Debt has
been Paid in Full, and notwithstanding anything to the contrary contained in the Subordinated Debt Documents, no Subordinated Creditor shall, without the prior written consent of the Required Secured Parties, agree to any amendment, modification or
supplement to the Subordinated Debt Documents (a) the effect of which is to take any liens or security interests in any assets of any Obligor or any Affiliate of any Obligor other than Permitted Judgment Liens, (b) in any manner if, after
giving effect to such amendment, modification or supplement, such Subordinated Debt Document will no longer satisfy the terms of Sections 1.3, 1.4, 1.5, and 13.6 of the Note Purchase Agreement, (c) the effect of which is to increase the
obligations of any Obligor of the Subordinated Debt or to confer additional material rights on any Subordinated Creditor or any other holder of the Subordinated Debt in a manner adverse to any Obligor or the Senior Creditors, and (d) the effect
of which is otherwise materially adverse to the interests of the Senior Creditors. 
 4. Representations and Warranties. 

4.1 Representations and Warranties of Subordinate Noteholder Representative. The Subordinate Noteholder Representative, hereby
represents and warrants to Senior Agent and Senior Creditors, as to itself and on behalf of the Subordinated Creditors, that as of the date hereof: (a) the Subordinate Noteholder Representative, on behalf of the Subordinated Creditors, has the
power and authority to enter into, execute, deliver and carry out the terms of this Agreement, all of which have been duly authorized by all proper and necessary action; (b) the execution of this Agreement by the Subordinate Noteholder
Representative, on behalf of the Subordinated Creditors, will not require any consent or approval which has not been obtained; (c) this Agreement is the legal, valid and binding obligation of such Subordinated Creditor, enforceable against such
Subordinated Creditor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by
equitable principles; (d) the Subordinated Creditors are the sole owner, beneficially and of record, of all of the Subordinated Debt; and (e) the Subordinated Debt held by each Subordinated Creditor is, and at all times prior to the
termination of this Agreement shall remain, an unsecured obligation of each Obligor other than Permitted Judgment Liens. 
 4.2
Representations and Warranties of Senior Agent. Senior Agent hereby represents and warrants to each Subordinated Creditor that as of the date hereof: (a) Senior Agent, on behalf of Senior Creditors, has the power and authority to
enter into, execute, deliver and carry out the terms of this Agreement, all of which have been duly authorized by all proper and necessary action; and (b) this Agreement is the legal, valid and binding obligation of Senior Agent, enforceable
against Senior Agent in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or by
equitable principles. 

  
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 5. Subrogation. Each Subordinated Creditor agrees that in the event that all
or any part of a payment made with respect to the Senior Debt is recovered from the holders of the Senior Debt in a Proceeding or otherwise, any Distribution received by such Subordinated Creditor with respect to the Subordinated Debt at any time
after the date that such payment is so recovered, whether pursuant to the right of subrogation provided for in this Agreement or otherwise, shall be deemed to have been received by such Subordinated Creditor in trust for the benefit of the holders
of the Senior Debt and such Subordinated Creditor shall forthwith deliver the same to the Senior Agent for the benefit of the Senior Creditors for application to the Senior Debt until the Senior Debt is Paid in Full. For purposes of this
Section 5, a Distribution made pursuant to this Agreement to Senior Agent or Senior Creditors which otherwise would have been made to any Subordinated Creditor is not, as between the Company and such Subordinated Creditor, a payment by
the Company to or on account of the Senior Debt. 
 6. Modification. Any modification or waiver of any provision of this
Agreement, or any consent to any departure by any party from the terms hereof, shall not be effective in any event unless the same is in writing and signed by each of the parties hereto (and in the case of the Senior Agent, acting upon an Act of
Required Secured Parties), and then such modification, waiver or consent shall be effective only in the specific instance and for the specific purpose given. Any notice to or demand on any party hereto in any event not specifically required
hereunder shall not entitle the party receiving such notice or demand to any other or further notice or demand in the same, similar or other circumstances unless specifically required hereunder.  

7. Further Assurances. Each party to this Agreement promptly will execute and deliver such further instruments and agreements
and do such further acts and things (at the sole cost and expense of the Company) as may be reasonably requested in writing by any other party hereto that may be necessary or desirable in order to effect fully the purposes of this Agreement. 

 8. Notices. Unless otherwise provided in this Agreement, all notices or demands provided for hereunder shall be in
writing (including by facsimile transmission). All such written notices shall be mailed, faxed or delivered to the applicable address, facsimile number or electronic mail address, and all notices and other communications expressly permitted
hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 
 If to Subordinated Creditors: 

 

                       
              
  

                       
              
  

                       
              
 If to Senior Agent: 

MUFG Union Bank, N.A., 
 as
First Lien Collateral Agent 
 1251 Avenue of the Americas, 19th Floor 

New York, NY 10020 
 Attention:
Institutional Agency Services 
 Fax: (415) 273-2492 

Email: SFCT@unionbank.com 

  
 15 

 or in any case, to such other address as the party addressed shall have previously
designated by written notice to the serving party, given in accordance with this Section 8. All such notices and other communications shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by the
relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four (4) business days after deposit in the mails, postage prepaid;
(C) if delivered by facsimile, when sent and receipt has been confirmed; and (D) if delivered by electronic mail, when delivered. In no event shall a voice mail message be effective as a notice, communication or confirmation hereunder.

 To the extent that any amount due and payable under this Agreement by the Company or any Obligor has not been paid within the time period set forth
hereunder or, if applicable, as set forth in any invoice delivered pursuant to the terms hereof, the First Lien Collateral Agent or Subordinated Creditors, as applicable, shall provide written notice thereof to the Company and such written notice
shall be identified therein as a “notice of default” and refer specifically to Section 11(c)(ii) of the Note Purchase Agreement and Section 8.1(c)(ii) of the LC Facility Credit Agreement. 

9. Successors and Assigns. This Agreement shall inure to the benefit of, and shall be binding upon, the respective successors
and assigns of Senior Agent, Senior Creditors, Subordinated Creditors, and each Obligor. To the extent permitted under the Senior Debt Documents, Senior Creditors may, from time to time, without notice to any Subordinated Creditor, assign or
transfer any or all of the Senior Debt or any interest therein to any Person and, notwithstanding any such assignment or transfer, or any subsequent assignment or transfer, the Senior Debt shall, subject to the terms hereof, be and remain Senior
Debt for purposes of this Agreement, and every permitted assignee or transferee of any of the Senior Debt or of any interest therein shall, to the extent of the interest of such permitted assignee or transferee in the Senior Debt, be entitled to
rely upon and be the third party beneficiary of the subordination provided under this Agreement and shall be entitled to enforce the terms and provisions hereof to the same extent as if such assignee or transferee were initially a party hereto. The
Subordinate Noteholder Representative agrees that any Person that becomes a Senior Creditor after the date of this Agreement may rely on and enforce this Agreement. 

10. Relative Rights. This Agreement shall define the relative rights of Senior Agent, Senior Creditors and Subordinated
Creditors. Nothing in this Agreement shall (a) impair, as between the Obligors and Senior Agent and Senior Creditors and as between the Obligors and Subordinated Creditors, the obligation of the Obligors with respect to the payment of the
Senior Debt and the Subordinated Debt in accordance with their respective terms or (b) affect the relative rights of Senior Agent, Senior Creditors or Subordinated Creditors with respect to any other creditors of the Obligors. 

11. Conflict. In the event of any conflict between any term, covenant or condition of this Agreement and any term, covenant or
condition of any of the Senior Debt Documents or the Subordinated Debt Documents, the provisions of this Agreement shall control and govern; provided that, notwithstanding the foregoing, for the avoidance of doubt, the failure of any Obligor
to comply with the provisions of the Senior Debt Documents by reason of the operation of any provision of this Agreement shall not be construed as preventing the occurrence of a breach, “Default” and/or “Event of Default” under
and as defined in any Senior Debt Document; provided that, notwithstanding the foregoing, for the avoidance of doubt, the failure of any Obligor to comply with the provisions of any Subordinated Debt Document by reason of the operation of any
provision of this Agreement shall not be construed as preventing the occurrence of a breach, “Default” and/or “Event of Default” under and as defined in any Subordinated Debt Document. 

  
 16 

 12. Headings. The paragraph headings used in this Agreement are for
convenience only and shall not affect the interpretation of any of the provisions hereof. 
 13. Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart to this Agreement by facsimile or other electronic
transmission shall be deemed to be effective delivery of an original signature hereto. 
 14. Severability. In the event that
any provision of this Agreement is deemed to be invalid, illegal or unenforceable by reason of the operation of any law or by reason of the interpretation placed thereon by any court or governmental authority, the validity, legality and
enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby, and the affected provision shall be modified to the minimum extent permitted by law so as most fully to achieve the intention of this
Agreement. 
 15. Continuation of Subordination; Termination of Agreement. This Agreement and the obligations of Subordinated
Creditors hereunder shall remain in full force and effect until the Payment in Full of the Senior Debt after which this Agreement shall terminate without further action on the part of the parties hereto; provided that this Agreement shall continue
to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by any Senior Creditor or the Senior Agent (or any representative thereof) upon the insolvency,
bankruptcy or reorganization of any Obligor or otherwise, all as though such payment had not been made, and any Distribution received by such Subordinated Creditor with respect to the Subordinated Debt at any time after the date of the payment that
is so recovered, whether pursuant to the right of subrogation provided for in this Agreement or otherwise, shall be subject to Section 2.5. 

16. Applicable Law. THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE
GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE. 

17. Consent to Jurisdiction. 

(a) Each of the parties hereto irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the
Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the Notes or any other Note Document. To the fullest extent permitted by applicable law, each Obligor irrevocably waives
and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or
proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

  
 17 

 (b) Each of the parties hereto agrees, to the fullest extent permitted by applicable law,
that a final judgment in any suit, action or proceeding of the nature referred to in Section 17(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the
courts of the United States or the State of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 

(c) Each of the parties hereto consents to process being served by or on behalf of any party hereto in any suit, action or proceeding of the
nature referred to in Section 17(a) by mailing a copy thereof by registered, certified, priority or express mail (or any substantially similar form of mail), postage prepaid, return receipt or delivery confirmation requested, to it at
its address specified in Section 8 or at such other address of which such holder shall then have been notified pursuant to said Section. Each of the parties hereto agrees that such service upon receipt (i) shall be deemed in every
respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices
hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 

(d) Nothing in this Section 17 shall affect the right of any party to serve process in any manner permitted by law, or limit any
right that the parties may have to bring proceedings in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction. 

18. WAIVER OF JURY TRIAL. THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT
OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
 19. Subordination Agreement. This Agreement is
intended to be a subordination agreement within the meaning of section 510(a) of the Bankruptcy Code. 
 20. Additional Subordinate
Debt. Any purchaser and holder of any additional Series of unsecured Subordinate Notes shall sign onto this Agreement as an additional Subordinated Creditor by executing a joinder to this Agreement in the form of Exhibit A attached
hereto and such additional Series of Subordinate Notes shall constitute “Subordinated Debt” for all purposes hereunder. 
 21.
Specific Performance. Senior Agent (acting upon an Act of Required Secured Parties) and each of the Subordinated Creditors may demand specific performance of this Agreement, and each of the Subordinated Creditors and Senior Agent waives
any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action brought by any of the Subordinated Creditors or the Senior Agent, respectively. 

  
 18 

 22. No Third Party Beneficiaries. This Agreement is for the sole benefit of
the Subordinated Creditors, Senior Creditors and Senior Agent and their respective successors and permitted assigns. There are no third party beneficiaries. No trustee in bankruptcy for, or bankruptcy estate of, or unsecured creditor of, any Obligor
will have or acquire or be entitled to exercise any right of a Senior Creditor or Subordinated Creditor under this Agreement, whether upon an avoidance or equitable subordination of a Lien of any Senior Creditor or any Subordinated Creditor or
otherwise. Other than pursuant to the second sentence of this Section, no Obligor or any other creditor thereof has any rights hereunder, and no Obligor may rely on the terms hereof. Nothing in this Agreement impairs the obligations of any Obligor
to pay principal, interest, fees, and other amounts as provided in the Senior Debt Documents and the Subordinated Debt Documents. 
 23.
Creditors’ Capacities. For the avoidance of doubt, each of the Senior Agent, on behalf of itself and the Senior Creditors, and the Subordinated Creditors acknowledge and agree that this Agreement only applies to the parties hereto in
their capacities as holders of the Senior Debt and the Subordinated Debt, as applicable, or as agent, as the case may be; this Agreement does not affect any party hereto in any different capacity, including as an equity holder or as a party to any
agreement or instrument other than the Senior Debt Documents and the Subordinated Debt Documents. Further, for the avoidance of doubt, this Agreement shall not constrain any party hereto from, or give rise to a default upon any party hereto, taking
any action in any capacity other than that as holders of the Senior Debt and the Subordinated Debt permitted under any agreement or document governing rights of a party hereto in any other capacity. 

24. Several Obligations of Subordinated Creditors, Etc. The rights and obligations of the Subordinated Creditors are several and
not joint and several. No Subordinated Creditor shall be liable directly or indirectly, on account of any act or omission of any other Subordinated Creditor. 

25. Subordination May Not Be Impaired. No right of any holder of Senior Debt to enforce the subordination of the Subordinated
Debt may be impaired by any act or failure to act by any Obligor, any Senior Creditor or Senior Agent. 
 26. Defense to
Enforcement. If a Subordinated Creditor, in contravention of the terms of this Agreement, shall commence, prosecute or participate in any suit, action or proceeding against any Obligor, then such Person may interpose as a defense or plea the
making of this Agreement, and Senior Agent (acting upon an Act of Required Secured Parties) or any other Senior Creditor may intervene and interpose such defense or plea in its name or in the name of any such Obligor. If a Subordinated Creditor, in
contravention of the terms of this Agreement, shall attempt to collect any of the Subordinated Debt or enforce any of the Subordinated Debt Documents, then Senior Agent (acting upon an Act of Required Secured Parties), any other Senior Creditor or
any Obligor may, by virtue of this Agreement, restrain the enforcement thereof in the name of Senior Agent or such Senior Creditor (as applicable), or any such Obligor. 

(Signature Pages Follow) 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first written above. 
  

			
	SENIOR AGENT:
	
	 MUFG UNION BANK, N.A.,
 not in its
individual capacity but solely in its capacity as Senior Agent and First Lien Collateral Agent

		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

			
	[SECOND LIEN COLLATERAL AGENT:
	
                          
      ,
 not in its individual capacity but solely in its capacity as Second Lien Collateral Agent

		
	By:	 	 

 
			
	Name:	 	
	Title: ]2

  
  

	2 	 Insert if applicable. 

[Signature Page to Subordination Agreement] 

 
			
	[SUBORDINATE NOTEHOLDER REPRESENTATIVE:
	
	__________, as Subordinate Noteholder Representative
		
	By:	 	 

 
			
	Name:	 	
	Title: ]3

  
  

	3 	 Insert if applicable. 

[Signature Page to Subordination Agreement] 

 
			
	ACKNOWLEDGED AND AGREED:

 COMPANY: 
  

			
	GSRP PORTFOLIO II LLC
		
	By:	 	 
		 	Name:                                     
                        
		 	Title:                                    
                           

 [INSERT OTHER OBLIGORS] 

Signature Page to Subordination Agreement 

 Exhibit A 

FORM OF JOINDER AGREEMENT 

This JOINDER AGREEMENT (this “Joinder Agreement”) dated as of
                    , 20         is executed by the undersigned in connection with that
certain Subordination Agreement dated as of                     , 20         by and among the
Obligors (as defined therein), MUFG Union Bank, N.A., as the First Lien Collateral Agent (as defined therein) for the First Lien Secured Parties (as defined therein),
[                    , in its capacity as Second Lien Collateral Agent (as defined therein) for the Second Lien Secured Parties (as defined
therein)] and                     , as the Subordinate Noteholder Representative for the holders of Series
         Notes (as defined therein) (as amended, restated, supplemented or modified from time to time, the “Agreement”). Capitalized terms not otherwise defined herein are being used
herein as defined in the Agreement. 
 In consideration of the premises and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each signatory hereby agrees as follows: 
  

	 	1.	 Each such signatory acknowledges receipt of the Agreement, assumes all the rights and obligations of a
Subordinated Creditor under the Agreement and agrees that such signatory shall be bound as a Subordinated Creditor under the terms of the Agreement as if it had been an original signatory to the Agreement. 

 

	 	2.	 Each signatory hereby gives as of the date hereof the representation and warranties in Section 4.1
of the Agreement. 

  

	 	3.	 Each such signatory’s address for notices under the Agreement shall be as set forth beneath its signature
hereto (or such other address as such signatory may designate in writing from time to time pursuant to Section 8 of the Agreement). 

  

	 	4.	 Each such signatory hereby waives notice of acceptance of this Joinder Agreement by the other parties to the
Agreement. 

 [add signature block and address] 

 
Execution Version 
 SCHEDULE 5.4 

TO NOTE PURCHASE AGREEMENT 

SUBSIDIARIES OF THE OBLIGORS AND OWNERSHIP OF SUBSIDIARY STOCK 

Subsidiaries: 
  

 SCHEDULE 5.8 

TO NOTE PURCHASE AGREEMENT 

TAXES 

  
 Schedule 5.8 

(to Note Purchase Agreement) 

 SCHEDULE 5.15 

TO NOTE PURCHASE AGREEMENT 

INDEBTEDNESS 

  
 Schedule 5.15 

(to Note Purchase Agreement) 

 SCHEDULE 5.17 

TO NOTE PURCHASE AGREEMENT 

ENERGY REGULATORY MATTERS 

  
 Schedule 5.17 

(to Note Purchase Agreement) 

 SCHEDULE 10.1 

TO NOTE PURCHASE AGREEMENT 

TRANSACTIONS WITH AFFILIATES 

  
 Schedule 10.1 

(to Note Purchase Agreement) 

 SCHEDULE 10.5 

TO NOTE PURCHASE AGREEMENT 

PERMITTED LIENS 

  
 Schedule 10.5 

(to Note Purchase Agreement) 

 SCHEDULE 10.6 

TO NOTE PURCHASE AGREEMENT 

PERMITTED INDEBTEDNESS 

  
 Schedule 10.6 

(to Note Purchase Agreement) 

 SCHEDULE 10.12 

TO NOTE PURCHASE AGREEMENT 

TAX CREDITS AND OTHER TAX RELATED MATTERS 

  
 Schedule 10.12 

(to Note Purchase Agreement) 

 SCHEDULE A-1 

TO NOTE PURCHASE AGREEMENT 

KNOWLEDGE PERSONS 

  
 Schedule A-1 

(to Note Purchase Agreement) 

 SCHEDULE A-2 

TO NOTE PURCHASE AGREEMENT 

PROJECTS 

  
 Schedule A-2 

(to Note Purchase Agreement) 

 SCHEDULE A-3 

TO NOTE PURCHASE AGREEMENT 

CERTAIN POWER PURCHASE AGREEMENTS 

  
 Schedule A-3 

(to Note Purchase Agreement) 

 SCHEDULE A-5 

TO NOTE PURCHASE AGREEMENT 

EPC CONTRACTORS 

  
 Schedule A-5 

(to Note Purchase Agreement) 

 SCHEDULE A-6 

TO NOTE PURCHASE AGREEMENT 

CASH GRANT PROJECTS 

  
 Schedule A-6 

(to Note Purchase Agreement) 

 SCHEDULE A-7 

TO NOTE PURCHASE AGREEMENT 

RESERVED 

  
 Schedule A-7 

(to Note Purchase Agreement) 

 SCHEDULE A-8 

TO NOTE PURCHASE AGREEMENT 

QUALIFIED REPLACEMENT MANAGER INDIVIDUALS 

  
 Schedule A-8 

(to Note Purchase Agreement)

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