Document:

EX-4.1

 Exhibit 4.1 

Execution Version 

SUBSCRIPTION AGREEMENT 
 Eagle Bulk
Shipping, Inc. 
 300 First Stamford Place, 5th Floor 

Stamford, Connecticut 06902 
 Ladies and Gentlemen: 

The undersigned (the “Investor”) hereby confirms its agreement with you as follows: 

1.    This Subscription Agreement (this “Agreement”) is made as of the date set forth below between Eagle
Bulk Shipping, Inc., a corporation organized under the laws of the Republic of the Marshall Islands (the “Company”), and the Investor. 

2.    The Company has authorized the sale and issuance to the Investor of up to an aggregate of 1,091,160 shares (the
“Shares”) of its Common Stock, par value $0.01 per share (the “Common Stock”), for a purchase price of $18.10 per Share (the “Purchase Price”). 

3.    In consideration of the Investor’s availability and willingness to purchase the Shares, the Company has
authorized an availability premium of $0.85 per Share purchased by the Investor (the “Availability Premium”). 

4.    This offering and sale of the Shares (the “Offering”) is being made pursuant to (1) an
effective Registration Statement on Form S-3 (including the Prospectus forming a part thereof (the “Base Prospectus”), the “Registration Statement”) filed by the Company with
the Securities and Exchange Commission (the “Commission”), (2) if applicable, certain “free writing prospectuses” (as that term is defined in Rule 405 under the Securities Act of 1933, as amended (the
“Act”)), that have been or will be filed with the Commission and delivered to the Investor on or prior to the date hereof and (3) a Prospectus Supplement (the “Prospectus Supplement” and together with the Base
Prospectus, the “Prospectus”) containing certain supplemental information regarding the Shares and terms of the Offering that will be filed with the Commission and delivered to the Investor (or made available to the Investor by the
filing by the Company of an electronic version thereof with the Commission). 
 5.    The Company and the Investor agree
that the Investor will purchase, either directly or indirectly through one or more affiliated or advised funds, from the Company and the Company will issue and sell to the Investor the aggregate number of Shares of Common Stock set forth on
Schedule A hereto at the aggregate purchase price set forth on Schedule A hereto. The Shares shall be purchased pursuant to the Terms and Conditions for Purchase of Shares of Common Stock attached hereto as Annex I and
incorporated herein by reference as if fully set forth herein. The Investor acknowledges that the Offering is not being underwritten. 

6.    The Investor acknowledges that (i) there is no minimum offering amount and (ii) the Investor’s
obligations under this Agreement, including the obligation to purchase Shares, either directly or indirectly through one or more affiliated or advised funds, are expressly not conditioned on the sale by the Company of any specified aggregate number
of Shares. 
 7.    The settlement of the Shares purchased by the Investor shall be by delivery by electronic book-entry
at The Depository Trust Company (“DTC”), registered in the Investor’s name and address as set forth below, or in the name of one or more funds affiliated or advised funds by the Investor, as provided to and agreed by the
Company prior to Closing (as defined in Section 3.1 of Annex I hereto), and released by Computershare Trust Company, N.A., the Company’s transfer agent (the “Transfer Agent”), to the Investor at
Closing. 
 NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL DIRECT
THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DEPOSIT/WITHDRAWAL AT CUSTODIAN (“DWAC”) INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES.

 AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL AT
CLOSING REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE NET OF THE AGGREGATE AVAILABILITY PREMIUM FOR THE SHARES BEING PURCHASED BY THE INVESTOR TO THE FOLLOWING ACCOUNT: 

            Bank: 

            IBAN: 

            Acct#: 

            Acct Name: 

            FFC Name: 

            FFC Acct#: 

IT IS THE INVESTOR’S RESPONSIBILITY TO (A) MAKE THE NECESSARY WIRE TRANSFER IN A TIMELY MANNER AND
(B) ARRANGE FOR SETTLEMENT BY WAY OF DWAC IN A TIMELY MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE SHARES OR DOES NOT MAKE PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER, THE SHARES MAY NOT
BE DELIVERED AT CLOSING TO THE INVESTOR OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING ALTOGETHER. 

8.    The Investor represents that, except as set forth in Exhibit A (the “FINRA Questionnaire”)
attached hereto, it is not a FINRA member or an Associated Person (as such term is defined under the FINRA Membership and Registration Rules Section 1011) as of the Closing. 

9.    The Investor represents that it has received (or otherwise had made available to it by the filing by the Company of
an electronic version thereof with the Commission) the Base Prospectus, dated October 17, 2019, which forms a part of the Company’s Registration Statement, the documents incorporated by reference therein and any free writing prospectus
relating to this Offering (collectively, the “Disclosure Package”), prior to or in connection with the receipt of this Agreement. The Investor acknowledges that, prior to the delivery of this Agreement to the Company, the Investor
will receive certain additional information regarding the Offering, including pricing information (the “Offering Information”). Such information may be provided to the Investor by any means permitted under the Act, including the
Prospectus Supplement, a free writing prospectus and oral communications. 
 10.    No offer by the Investor to buy
Shares will be accepted and no part of the Purchase Price will be delivered to the Company until the Investor has received the Offering Information and the Company has accepted such offer by countersigning a copy of this Agreement, and any such
offer may be withdrawn or revoked by the Investor, without obligation or commitment of any kind, at any time prior to the Company sending (orally, in writing or by electronic mail) notice of its acceptance of such offer. An indication of interest
will involve no obligation or commitment of any kind until the Investor has been delivered the Offering Information and this Agreement is accepted and countersigned by or on behalf of the Company. 

11.    The Company hereby confirms that the Shares constitute “Registrable Securities” under that certain
Amended and Restated Registration Rights Agreement, dated as of May 13, 2016, by and among the Company, Oaktree Capital Management, L.P. and GoldenTree Asset Management LP (and their respective affiliates). 

[The remainder of this page is intentionally left blank.] 

 Please confirm that the foregoing correctly sets forth the agreement between us by signing
in the space provided below for that purpose. 
 Dated as of: December 18, 2020 

GOLDENTREE ASSET MANAGEMENT LP, 
 on behalf of certain
funds and accounts 
 for which it serves as investment manager 
  

					
	By:	 	 /s/ Peter Alderman

		 	Name:	 	Peter Alderman
		 	Title:	 	Vice President

 Address: 300 Park Avenue 

                New York, NY 10022 

Facsimile: (212) 847-3496 

Agreed and Accepted 
 EAGLE BULK SHIPPING, INC.

  

					
	By:	 	 /s/ Frank De Costanzo

		 	Name:	 	Frank De Costanzo
		 	Title:	 	Chief Financial Officer

 Signature Page to Subscription Agreement 

 SCHEDULE A 

Number of Shares: 1,091,160 
 Purchase Price per Share:
$18.10 
 Availability Premium per Share: $0.85 

Aggregate Purchase Price (net of aggregate Availability Premium): $18,822,510.00 

 ANNEX I 

TERMS AND CONDITIONS FOR PURCHASE OF SHARES OF COMMON STOCK 

1.    Authorization and Sale of the Shares. Subject to the terms and
conditions of this Agreement, the Company has authorized the sale of the Shares. 
 2.    Agreement to
Sell and Purchase the Shares. At the Closing (as defined in Section 3.1), the Company will sell to the Investor, and the Investor will purchase from the Company, upon the terms and conditions set forth herein, the number of Shares
set forth on Schedule A to the Agreement to which these Terms and Conditions for Purchase of Shares of Common Stock are attached as Annex I (“Schedule A”) for the aggregate purchase price therefor set
forth on Schedule A. 
 3.    Closings and Delivery of the Shares and Funds. 

3.1    Closing. The completion of the purchase and sale of the Shares, or a portion
thereof, (the “Closing”) shall occur upon delivery of the Shares against payment therefor on or about December 22, 2020, which is the second business day following the delivery of the Offering Information to the Investor, or at
such earlier date as the Company and Investors shall agree (the “Closing Date”), in accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). At the Closing, (a) the Company shall cause the Transfer Agent to deliver to the Investor the number of Shares set forth on Schedule A registered in the name of the Investor and (b) the aggregate
Purchase Price, net of the aggregate Availability Premium, for the Shares being purchased by the Investor will be delivered by or on behalf of the Investor to the Company. 

3.2    Conditions to Closing.

(a)    Conditions to the Company’s Obligations. The Company’s obligation to issue and sell
the Shares to the Investor and apply the Availability Premium shall be subject to (i) the receipt by the Company of the purchase price for the Shares being purchased hereunder as set forth on Schedule A and (ii) the accuracy of the
representations and warranties made by the Investor and the fulfillment of those undertakings of the Investor to be fulfilled prior to the Closing Date. 

(b)    Conditions to the Investor’s Obligations. The Investor’s obligation to purchase the
Shares as set forth on Schedule A will be subject to the completion of the Offering by the Company. 

(c)    Disclaimer Regarding Partial Settlement. The Investor’s obligations are expressly not
conditioned on the sale by the Company of any specified aggregate number of Shares in the concurrent registered public offering being conducted by the Company. 

3.3    Delivery of Funds. Delivery by Electronic Book-Entry at The Depository Trust
Company. After the execution of this Agreement by the Investor and the Company, at Closing the Investor shall remit by wire transfer the amount of funds equal to the aggregate Purchase Price net of the aggregate Availability
Premium for the Shares being purchased by the Investor to the account designated by the Company in the Agreement 
 Investor shall also
furnish the Company a completed W-9 form (or, in the case of an Investor who is not a United States citizen or resident, a W-8 form). 

3.4    Delivery of Shares. Delivery by Electronic Book-Entry at The Depository Trust
Company. No later than one (1) business day after the execution of this Agreement by the Investor and the Company, the Investor shall direct the broker-dealer at which the account or accounts to be credited with the
Shares being purchased by such Investor are maintained, which broker/dealer shall be a DTC participant, to set up a Deposit/Withdrawal at Custodian (“DWAC”) instructing Computershare Trust Company, N.A., the Company’s transfer
agent, to credit such account or accounts with the Shares by means of an electronic book-entry delivery. Such DWAC shall indicate the settlement date for the deposit of the Shares, which date shall be the Closing. Simultaneously with the delivery to
the Company by the Investor of the funds pursuant to Section 3.3 above, the Company shall direct its transfer agent to credit the Investor’s account or accounts with the Shares pursuant to the information contained in the DWAC. 

 4.    Representations, Warranties and Covenants of the Investor.

 The Investor acknowledges, represents and warrants to, and agrees with, the Company that: 

4.1    The Investor (a) is knowledgeable, sophisticated and experienced in making, and is qualified to
make decisions with respect to, investments in shares presenting an investment decision like that involved in the purchase of the Shares, including investments in securities issued by the Company and investments in comparable companies, (b) has
answered all questions on the Investor Questionnaire and the answers thereto are true and correct as of the date hereof and will be true and correct as of the Closing Date, (c) in connection with its decision to purchase the number of Shares
set forth on Schedule A, has received and is relying solely upon (i) the Disclosure Package and the documents incorporated by reference therein and (ii) the Offering Information, and not any other preliminary or final prospectus
pursuant to the Registration Statement and (d) the Investor it is responsible for conducting its own due diligence investigation with respect to the Company and the Offering, it is purchasing Shares in the Offering based on the results of its
own due diligence investigation of the Company, it has negotiated the Offering directly with the Company and the decision to invest in the Offering will involve a significant degree of risk, including a risk of total loss of such investment. 

4.2    (a) No action has been or will be taken in any jurisdiction outside the United States by the Company that
would permit an offering of the Shares, or possession or distribution of offering materials in connection with the issue of the Shares in any jurisdiction outside the United States where action for that purpose is required and (b) if the
Investor is outside the United States, it will comply with all applicable laws and regulations in each foreign jurisdiction in which it purchases, offers, sells or delivers Shares or has in its possession or distributes any offering material, in all
cases at its own expense. 
 4.3    The Investor has full right, power, authority and capacity to enter
into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement, and (b) this Agreement constitutes a valid and binding
obligation of the Investor enforceable against the Investor in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and
contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and except as to the enforceability
of any rights to indemnification or contribution that may be violative of the public policy underlying any law, rule or regulation (including any federal or state securities law, rule or regulation). 

4.4    The Investor understands that nothing in this Agreement, the Prospectus or any other materials presented to
the Investor in connection with the purchase and sale of the Shares constitutes legal, tax or investment advice. The Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in
connection with its purchase of Shares. The Investor acknowledges that the Company is conducting a concurrent public offering of Common Stock through a syndicate of underwriters (the “Underwriters”). Investor acknowledges that the
Underwriters have not made any offer, representation or warranty with respect to the Offering, and Investor has not relied, and will not rely, on any statement made by the Underwriters, orally or in writing, to the contrary. 

4.5    Since the date on which the Company first contacted such Investor about the Offering, the Investor has not
engaged in any transactions in the securities of the Company (including, without limitation, any Short Sales (as defined below) involving the Company’s securities) and has not violated its obligations of confidentiality. Each Investor covenants
that it will not engage in any transactions in the securities of the Company (including Short Sales) or disclose any information about the contemplated offering (other than to its advisors that are under a legal obligation of confidentiality) prior
to the time that the transactions contemplated by this Agreement are publicly disclosed. Each Investor agrees that it will not use any of the Shares acquired pursuant to this Agreement to cover any short position in the Common Stock if doing so
would be in violation of applicable securities laws. For purposes hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether
or not against the box, and all types of 

 
direct and indirect stock pledges, forward sales contracts, options, puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule
16a-1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and sales and other transactions through non-US broker dealers or foreign
regulated brokers. 
 5.    Survival of Representations, Warranties and
Agreements. Notwithstanding any investigation made by any party to this Agreement, all covenants, agreements, representations and warranties made by the Company and the Investor herein will survive the execution of this Agreement,
the delivery to the Investor of the Shares being purchased and the payment therefor. 

6.    Notices. All notices, requests, consents and other communications hereunder will be
in writing, will be mailed (a) if within the domestic United States by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, or by facsimile or (b) if delivered from outside the
United States, by International Federal Express or facsimile, and will be deemed given (i) if delivered by first-class registered or certified mail domestic, three business days after so mailed, (ii) if delivered by nationally recognized
overnight carrier, one business day after so mailed, (iii) if delivered by International Federal Express, two business days after so mailed and (iv) if delivered by facsimile, upon electric confirmation of receipt and will be delivered and
addressed as follows: 
  

	 	(a)	 if to the Company, to: 

Eagle Bulk Shipping, Inc. 

300 First Stamford Place, 5th Floor 

Stamford, Connecticut 06902 

Attention: Frank De Costanzo, Chief Financial Officer 

Email: fdecostanzo@eagleships.com 

with copies to: 

Akin Gump Strauss Hauer & Feld LLP 

2001 K Street N.W. 

Washington, DC 20006 

Attention: Alan J. Feld 

Email: ajfeld@akingump.com 

(b)    if to the Investor, at its address on the signature page hereto, or at such other
address or addresses as may have been furnished to the Company in writing. 

7.    Changes. This Agreement may not be modified or amended except pursuant to an
instrument in writing signed by the Company and the Investor. 
 8.    Headings. The
headings of the various sections of this Agreement have been inserted for convenience of reference only and will not be deemed to be part of this Agreement.

9.    Severability. In case any provision contained in this Agreement should be invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby. 

10.    Governing Law. This Agreement will be governed by, and construed in accordance
with, the internal laws of the State of New York, without giving effect to the principles of conflicts of law that would require the application of the laws of any other jurisdiction. 

11.    Counterparts. This Agreement may be executed in two or more counterparts, each of
which will constitute an original, but all of which, when taken together, will constitute but one instrument, and will become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties. The
Company and the Investor acknowledge and agree that the Company shall deliver its counterpart to the Investor along with the Prospectus Supplement (or the filing by the Company of an electronic version thereof with the Commission). 

 12.    Confirmation of Sale. The Investor
acknowledges and agrees that such Investor’s receipt of the Company’s counterpart to this Agreement, together with the Prospectus Supplement (or the filing by the Company of an electronic version thereof with the Commission), shall
constitute written confirmation of the Company’s sale of Shares to such Investor. 
 13.    Press
Release. The Company and the Investor agree that the Company shall issue a press release announcing the pricing of the Offering and disclosing all material terms and conditions of the Offering prior to the opening of the financial markets
in New York City on the business day after the date hereof at the latest. 
 [The remainder of this page is intentionally left blank.]Exhibit 10.1

Execution Version

 

Certain portions of this Exhibit have been redacted
pursuant to Item 601(b)(10) of Regulation S-K and, where applicable, have been marked with “[***]” to indicate
where redactions have been made. The marked information has been redacted because it is both (i) not material and (ii) would
likely cause competitive harm to the Company if publicly disclosed.

 

 

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

with respect to

 

Rosie TargetCo LLC

 

by and between

 

Renew Development HoldCo LLC, as Seller

 

and

 

Rosamond Solar Investment LLC, as Purchaser

 

dated as of December 21, 2020

 

 

 

     

     

    

 

TABLE OF CONTENTS 

 

	 	Page

	 	 
	Article 1 DEFINITIONS AND PRINCIPLES OF INTERPRETATION	2
	 	1.01.   Definitions	2
	 	1.02.   Rules of Interpretation	13
	Article 2 SALE OF MEMBERSHIP INTERESTS AND CLOSING	13
	 	2.01.   Purchase and Sale	13
	 	2.02.   Payment of Purchase Price	13
	 	2.03.   Closing	14
	 	2.04.   Adjusted Purchase Price Amount	14
	Article 3 REPRESENTATIONS AND WARRANTIES	14
	 	3.01.   Representations and Warranties with respect to Seller, the Company and the Rosie Entities	14
	 	3.02.   Representations and Warranties with Respect to Purchaser	25
	Article 4 CONDITIONS PRECEDENT	27
	 	4.01.   Closing Date Conditions Precedent	27
	Article 5 Certain Covenants	28
	 	5.01.   Purchaser’s Substitute Support Obligations	30
	 	5.02.   Tax Matters	30
	 	5.03.   Seller Parent Guaranty	30
	 	5.04.   Purchaser Parent Guaranty	30
	Article 6 Indemnification	30
	 	6.01.   Indemnification by Seller	30
	 	6.02.   Indemnification by Purchaser	30
	 	6.03.   Survival of Representations, Warranties, Covenants and Agreements	30
	 	6.04.   Limitations on Claims	33
	 	6.05.   Procedure for Indemnification of Third Party Claims	31
	 	6.06.   Rights of the Indemnifying Party in the Defense of Third Party Claims	32
	 	6.07.   Direct Claims	32
	 	6.08.   Exclusive Remedy	33
	 	6.09.   Mitigations	33
	 	6.10.   Indemnity Treatment	33
	Article 7 GENERAL PROVISIONS	33
	 	7.01.   Notices	33

 

    i

     

    

 

TABLE OF CONTENTS

(continued)

 

	 	7.02.   Entire Agreement	34
	 	7.03.   Specific Performance	34
	 	7.04.   Time of the Essence	34
	 	7.05.   Expenses	34
	 	7.06.   Confidentiality; Disclosures	35
	 	7.07.   Waiver	35
	 	7.08.   Amendment	35
	 	7.09.   No Third Party Beneficiary	35
	 	7.10.   Assignment	35
	 	7.11.   Severability	35
	 	7.12.   Governing Law	36
	 	7.13.   Consent to Jurisdiction	36
	 	7.14.   Waiver of Jury Trial	36
	 	7.15.   Limitation on Certain Damages	37
	 	7.16.   Disclosures	37
	 	7.17.   PDF Signature; Counterparts	37

 

Exhibits:

 

Exhibit A        Base Case Model

Exhibit B        Officer’s Certificate of Seller

Exhibit C        Secretary’s Certificate of Seller

Exhibit D        Officer’s Certificate of Purchaser

Exhibit E        Secretary’s Certificate of Purchaser

Exhibit F        Assignment of Membership Interests

Exhibit G        Form of Seller Parent Guaranty

Exhibit H        Form of Purchaser Parent Guaranty

 

Schedules:

 

Schedule 6.01(b)        Certain Indemnification Matters

 

    ii 

     

    

 

TABLE OF CONTENTS

(continued)

 

Disclosure Schedules:

 

	Schedule 1.01	Permitted Liens	 
	Schedule 3.01(c)	Seller Consents	 
	Schedule 3.01(e)	Seller Approvals	 
	Schedule 3.01(f)	Legal Proceedings	 
	Schedule 3.01(g)	Brokers	 
	Schedule 3.01(i)	Permitted Business Jurisdictions	 
	Schedule 3.01(i)(ii)	Permitted Equity Encumbrances	 
	Schedule 3.01(i)(iv)	Directors and Officers	 
	Schedule 3.01(i)(vi)	Permitted Options	 
	Schedule 3.01(i)(vii)	Permitted Additional Investments	 
	Schedule 3.01(i)(viii)	Permitted Additional Business Operations	 
	Schedule 3.01(i)(x)	Liens on Acquired Interests	 
	Schedule 3.01(j)	Liabilities	 
	Schedule 3.01(k)	Taxes	 
	Schedule 3.01(m)(i)	Company Contracts	 
	Schedule 3.01(m)(iii)	Company Contracts Defaults	 
	Schedule 3.01(n)(i)	Real Property Rights and Land	 
	Schedule 3.01(n)(ii)	Permitted Real Property Agreements	 
	Schedule 3.01(n)(iii)	Part I – Permitted Real Property Rights Agreements	 
	Schedule 3.01(n)(iii)	Part II – Permitted Absent Real Property Rights	 
	Schedule 3.01(p)(i)	Environmental Law Non-Compliance	 
	Schedule 3.01(p)(iii)	Environmental Permits	 
	Schedule 3.01(q)(i)	Permits	 
	Schedule 3.01(q)(ii)	Regulatory Noncompliance	 
	Schedule 3.01(r)	Affiliate Transactions	 
	Schedule 3.01(s)(i)	Intellectual Property	 
	Schedule 3.01(t)	Insurance	 
	Schedule 3.01(v)	Absence of Changes	 
	Schedule 3.01(w)	Bank Accounts	 
	Schedule 3.01(y)	Support Obligations	 
	Schedule 3.02(c)	Purchaser Consents	 
	Schedule 3.02(e)	Permits	 
	Schedule 3.02(h)	Brokers	 
	Schedule 3.02(i)	Purchaser Approvals	 

 

    iii 

     

    

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

THIS MEMBERSHIP INTEREST
PURCHASE AGREEMENT (this “Agreement”), dated as of December 21, 2020 (the “Execution Date”),
is entered into by and between Renew Development HoldCo LLC, a Delaware limited liability company (“Seller”),
and Rosamond Solar Investment LLC, a Delaware limited liability company (“Purchaser”). Purchaser and Seller
are referred to, collectively, as the “Parties” and each, individually, as a “Party.” Capitalized
terms not otherwise defined herein shall have the meaning given them in Section 1.01 of this Agreement.

 

RECITALS:

 

1.           Seller
owns one hundred percent (100%) of the Class A Units (as defined in the Existing Rosie A&R LLCA) (the “Acquired Interests”)
of Rosie TargetCo LLC, a Delaware limited liability company (the “Company”), HA Lighthouse LLC, a Delaware
limited liability company (“HASI”) owns one hundred percent (100%) of the Class B Units (as defined in the
Existing Rosie A&R LLCA) in the Company, and Clearway Renew LLC, a Delaware limited liability company (the “Class
C Member”) owns one hundred percent (100%) of the Class C Units (as defined in the Existing Rosie A&R LLCA) in the
Company.

 

2.           The
Company is the sole member and one hundred percent (100%) owner of Rosie Class B LLC, a Delaware limited liability company (“TE
Class B Member”), which is the owner of one hundred percent (100%) of the Class B Units (as defined in the Tax Equity
Agreement) of Rosie TE HoldCo LLC, a Delaware limited liability company (“TE HoldCo”), and Morgan Stanley Renewables
Inc. (the “Tax Equity Investor”) is the owner of one hundred percent (100%) of the Class A Units (as defined
in the Tax Equity Agreement) of TE HoldCo.

 

3.           TE
HoldCo is the sole member and one hundred percent (100%) owner of Rosie Project HoldCo LLC, a Delaware limited liability company
(“Project HoldCo”), which is the sole member and one hundred percent (100%) owner of Golden Fields Solar III,
LLC, a Delaware limited liability company (the “Project Company” and together with TE Class B Member, TE HoldCo
and Project HoldCo, the “Rosie Entities” and each a “Rosie Entity”).

 

4.           The
Project Company owns and operates an approximately 192 MW AC ground-mounted solar photovoltaic generating facility and associated
infrastructure located in Kern County, California (the “Project”) and sells electric power therefrom.

 

5.           On
the Closing Date, subject to the satisfaction or waiver of the applicable conditions precedent set forth herein, the Acquired
Interests will be sold to Purchaser for the Purchase Price as provided herein.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the mutual agreements, covenants, representations and warranties set forth herein, and intending to be legally
bound hereby, the Parties agree as follows:

 

     

     

    

 

Article
1

DEFINITIONS AND PRINCIPLES OF INTERPRETATION

 

1.01.     Definitions. As used in this Agreement, the following defined terms have the meanings indicated below:

 

“Acquired Interests” has
the meaning set forth in the recitals to this Agreement.

 

“Action or Proceeding”
means any action, suit, proceeding, arbitration or investigation by or before any Governmental Authority.

 

“Adjusted Purchase
Price Amount” has the meaning set forth in Section 2.04(b).

 

“Adjusted Purchase
Price Model” means the Base Case Model, with the following cells updated by Seller prior to the Substantial Completion
Capital Contribution Date, in each case on the basis of the Pricing Adjustments:

 

(a)          Tab
Inputs, Input Reference C9;

 

(b)         Tab
Inputs, Input Reference C24;

 

(c)          Tab
Inputs, Input Reference C25;

 

(d)          Tab
Inputs, Input Reference C31;

 

(e)          Tab
Inputs, Input Reference C32:C33;

 

(f)           Tab
Inputs, Input Reference C43:C54;

 

(g)          Tab
Inputs, Input Reference P45:BC45;

 

(h)         Tab
Inputs, Input Reference P43:WQ43;

 

(i)           Tab
Inputs, Input Reference C100:C103, C187:C191 and C201:C205;

 

(j)           Tab
Inputs, Input Reference P155:SA160;

 

(k)          Tab
Inputs, Input Reference H143:H183;

 

(l)           Tab
Inputs, Input Reference P397:BC397;

 

(m)         Tab
Inputs, Input Reference E463:E502;

 

(n)          Tab
Inputs, Input Reference G463:G502;

 

(o)          Tab
Inputs, Input Reference C563;

 

(p)          Tab
Depreciation, Input Reference U295:BC295; and

 

    2

     

    

 

(q)         Tab
Scenario, Input Reference I8:L8.

 

“Affiliate”
of a specified Person means any other Person that directly or indirectly through one or more intermediaries Controls, is Controlled
by or is under common Control with the Person specified. For the purposes of this Agreement, Clearway Energy Group LLC and its
direct or indirect subsidiaries, including Seller, the Company and the Rosie Entities shall not be considered “Affiliates”
of Clearway Energy, Inc. and its direct or indirect subsidiaries, including Purchaser.

 

“Apportioned
Obligations” has the meaning set forth in Section 5.02(a).

 

“Assignment
of Membership Interests” means the Assignment and Assumption Agreement, in substantially the form of Exhibit F
attached hereto.

 

“Balance Sheet”
has the meaning set forth in Section 3.01(u)

 

“Balance Sheet
Date” has the meaning set forth in Section 3.01(u).

 

“Base Case Model”
means the financial projections with respect to the Project in file “Rosamond Central – CE Vehicle – External
CWEN 12112020.xlsb”, and attached as Exhibit A.

 

“Base Purchase
Price” has the meaning set forth in Section 2.02.

 

“Business Day”
means a day other than Saturday, Sunday or any day on which banks located in the State of New York or the State of New Jersey are
authorized or obligated to close.

 

“CAISO”
means the California Independent System Operator, Inc.

 

“Cap”
has the meaning set forth in Section 6.04(b).

 

“Capital Contribution
Date” means the Capital Contribution Date as defined in the Tax Equity Agreement.

 

“Class C Member”
has the meaning set forth in the recitals to this Agreement.

 

“Closing”
has the meaning set forth in Section 2.03(a).

 

“Closing Date”
has the meaning set forth in Section 2.03(a).

 

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

 

“Company”
has the meaning set forth in the recitals to this Agreement.

 

“Company Contracts”
has the meaning set forth in Section 3.01(m)(i).

 

“Consequential
Damages” has the meaning set forth in Section 7.15.

 

    3

     

    

 

“Constitutive
Documents” means the certificate of formation and the limited liability company agreement or partnership agreement of
a Person.

 

“Contract”
means any agreement, purchase order, commitment, evidence of Indebtedness, mortgage, indenture, security agreement or other contract,
entered into by a Person or by which a Person or any of its assets are bound.

 

“Control”
of a Person means the power, directly or indirectly, to direct or cause the direction of the management or policies of such Person
(whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).

 

“CPUC”
means the California Public Utilities Commission.

 

“Deductible”
has the meaning set forth in Section 6.04(a).

 

“Disclosure
Schedules” means the schedules to Seller’s and Purchaser’s representations and warranties of even date herewith
delivered in connection with the execution and delivery of this Agreement.

 

“Employee Plan”
means any “employee benefit plan,” as such term is defined in Section 3(3) of ERISA, that is (or when in effect was)
subject to any provision of ERISA, including Title IV of ERISA, and is or was sponsored, maintained or contributed to by Seller,
the Company or the Rosie Entities or any ERISA Affiliate.

 

“Environmental
Attributes” means all environmental air quality credits, green credits, carbon credits, emissions reduction credits,
certificates, tags, offsets, allowances, or similar products or rights, howsoever entitled, (a) resulting from the avoidance
of the emission of any gas, chemical or other substance, including mercury, nitrogen oxide, sulfur dioxide, carbon dioxide, carbon
monoxide, particulate matter or similar pollutants or contaminants of air, water, or soil, gas, chemical, or other substance, and
(b) attributable to the generation, purchase, sale or use of renewable energy generated or use of renewable generation technologies
by the Project, or otherwise attributable to the Project, including any renewable energy credits (“RECs”).

 

“Environmental
Laws” means all applicable Laws relating to the environment, or the handling, storage, transportation, emissions, discharges,
Releases or threatened emissions, discharges or Releases of Hazardous Substances into the environment, including ambient air, surface
water, ground water or land, or otherwise relating to the manufacture, processing, distribution, use, treatment or disposal of
any Hazardous Substances, including the Clean Air Act, the Federal Water Pollution Control Act (including the Clean Water Act and
the Oil Pollution Act), the Safe Drinking Water Act, the Federal Solid Waste Disposal Act (including the Resource Conservation
and Recovery Act of 1976), the Comprehensive Environmental Response, Compensation, and Liability Act, the Toxic Substances
Control Act, the Federal Insecticide, Fungicide and Rodenticide Act, the Emergency Planning and Community Right-to-Know Act, the
Occupational Safety and Health Act (to the extent relating to human exposure to Hazardous Substances), and any other federal, state
or local Laws now or hereafter existing relating to any of the foregoing.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974.

 

    4

     

    

 

“ERISA Affiliate”
means any entity, trade or business that is a member of a group described in Section 414(b), (c), (m) or (o) of the Code or Section
4001(b)(1) of ERISA that includes Seller, the Company or the Rosie Entities or that is a member of the same “controlled group”
as Seller pursuant to Section 4001(a)(14) of ERISA; provided, however, that the Company and the Rosie Entities shall
not be considered to be ERISA Affiliates from and after the Closing Date.

 

“Execution Date”
has the meaning set forth in the preamble to this Agreement.

 

“Existing Rosie
A&R LLCA” means that certain Amended and Restated Limited Liability Company Agreement of the Company, dated as of
November 20, 2020, by and among Seller, HASI and the Class C Member.

 

“FERC”
means the Federal Energy Regulatory Commission.

 

“Financing Agreement”
means that certain Amended and Restated Financing Agreement, dated as of February 25, 2020, by and among TE Class B Member, Rosie
DevCo LLC, a Delaware limited liability company, Norddeutsche Landesbank Girozentrale, New York Branch, CIT Bank, N.A., Zions Bancorporation,
N.A. and the lenders party thereto.

 

“Financing Documents”
means the Financing Documents (as defined in the Financing Agreement).

 

“FPA”
means the Federal Power Act and all rules and regulations adopted thereunder.

 

“Fraudulent
Action” means, with respect to the applicable Party, any fraud, intentional breach, intentional misrepresentation (excluding
negligent misrepresentation) or intentional omission by such Party or any Representative of such Party in connection with this
Agreement.

 

“GAAP”
means generally accepted accounting principles in the United States, consistently applied throughout the relevant periods.

 

“Governmental
Approval” means any consent or approval required by any Governmental Authority.

 

“Governmental
Authority” means any federal, state, local or municipal governmental body, any governmental, quasi-governmental, regulatory
or administrative agency, commission, body or other authority exercising or entitled to exercise any administrative, executive,
judicial, legislative, policy, regulatory or taxing authority or power, including NERC, FERC, CAISO, and each Regional Entity,
or any court or governmental tribunal.

 

“HASI”
has the meaning set forth in the recitals to this Agreement.

 

“Hazardous Substances”
means any substance, element, compound or mixture, whether solid, liquid or gaseous: (a) which is defined as “hazardous
waste” or “hazardous substance” or “pollutant” or “contaminant” under any Environmental
Law; (b) which is otherwise hazardous and is subject to regulation by any Governmental Authority; (c) petroleum hydrocarbons
(other than naturally occurring petroleum hydrocarbons); (d) polychlorinated biphenyls (PCBs); (e) asbestos-containing
materials (other than naturally occurring asbestos); or (f) radioactive materials (other than naturally occurring radioactive
materials).

 

    5

     

    

 

“Indebtedness”
means all obligations of a Person (a) for borrowed money, (b) evidenced by notes, bonds, debentures or similar instruments,
(c) for the deferred purchase price of goods or services (other than trade payables or accruals incurred in the ordinary
course of business and not past due), (d) under capital leases, (e) secured by a Lien on the assets of such Person,
whether or not such obligation has been assumed by such Person, (f) with respect to reimbursement obligations for letters
of credit and other similar instruments (whether or not drawn), (g) in the nature of guaranties of the obligations described
in clauses (a) through (f) above of any other Person or as to which such Person has an obligation substantially the economic equivalent
of a guaranty, (h) for unpaid interest, prepayment penalties, premiums, costs and fees that would arise or become due as
a result of the prepayment of any of the obligations referred to in the foregoing clauses (a) through (g), or (i) in respect
of any other amount properly characterized as indebtedness in accordance with GAAP.

 

“Indemnified
Party” means any Person claiming indemnification under any provision of Article 6.

 

“Indemnifying
Party” means any Person against whom a claim for indemnification is being asserted under any provision of Article
6.

 

“Initial Capital
Contribution Date” means Initial Capital Contribution Date as defined in the Tax Equity Agreement.

 

“Knowledge”
means the actual knowledge of [***], after reasonable inquiry of their direct reports.

 

“Land”
has the meaning set forth in Section 3.01(n)(i).

 

“Law”
means all laws, statutes, treaties, rules, injunctions, judgments, decrees, writs, orders, codes, ordinances, standards, regulations,
restrictions, executive orders, official guidelines, policies, directives, interpretations, permits or other pronouncements, in
each case, having the effect of law of any Governmental Authority.

 

“Liabilities”
means any liability, Indebtedness, obligation, commitment, or expense, in each case, requiring either (a) the payment of
a monetary amount, or (b) any type or fulfillment of an obligation, and in each case whether accrued, absolute, contingent,
asserted, matured, unmatured, secured or unsecured.

 

“Lien”
means any lien, mortgage, pledge, security interest, charge or encumbrance of any kind (including, without limitation, any conditional
sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any lien or security interest).

 

“Losses”
means any and all claims, damages, losses, Liabilities, costs, fines, penalties assessed by any Governmental Authority and expenses
(including settlement costs and any reasonable legal, accounting or other expenses for investigating or defending any actions or
threatened actions), and excluding any consequential, incidental, indirect, special, exemplary or punitive damages.

 

    6

     

    

 

“Material Adverse
Effect” means any fact, event, circumstance, condition, change or effect that has, or would reasonably be expected to
have, individually or in the aggregate, a materially adverse effect on the assets, properties, liabilities, financial condition
or results of operations of the Project, the Company or the Rosie Entities, individually or taken as a whole; provided,
however, that none of the following shall be or will be at the Closing Date deemed to constitute and shall not be taken
into account in determining the occurrence of a Material Adverse Effect: any fact, event, circumstance, condition, change or effect
resulting from (a) any economic change generally affecting the international, national or regional (i) electric
generating industry or (ii) wholesale markets for electric power; (b) any economic change in markets for
commodities or supplies, including electric power, as applicable, used in connection with the Company or the Rosie Entities; (c) any
change in general regulatory or political conditions, including any engagements of hostilities, acts of war or terrorist activities,
natural disasters or weather-related events or changes imposed by a Governmental Authority associated with additional security;
(d) any change in any Laws (including Environmental Laws), industry standards generally affecting the industry or markets
in which the Company or the Rosie Entities operate or GAAP; (e) any change in the financial condition of the Company
or the Rosie Entities caused by the transactions contemplated by this Agreement; (f) any change in the financial, banking,
or securities markets (including any suspension of trading in, or limitation on prices for, securities on the New York Stock Exchange,
American Stock Exchange or Nasdaq Stock Market) or any change in the general national or regional economic or financial conditions;
(g) any actions to be taken pursuant to or in accordance with this Agreement; or (h) the announcement or
pendency of the transactions contemplated hereby, including any labor union activities or disputes; provided, however,
that any fact, event, circumstance, condition, change or effect resulting from clauses (a) through (f) shall nonetheless be taken
into consideration in determining whether a Material Adverse Effect has occurred to the extent such changes, events, effects or
occurrences have a materially disproportionate impact on the Company or the Rosie Entities, taken as whole, as compared to similarly
situated businesses in the same industry and in the same geographical area, which shall be deemed to include the State of California.

 

“MBR Authorization”
means a final order issued by FERC (a) authorizing the wholesale sale of electric energy, capacity and specified ancillary services
at market-based rates pursuant to Section 205 of the FPA, (b) accepting a tariff pertaining to such sales, and (c) granting waivers
of regulations and blanket authorizations customarily granted by FERC to an entity that makes wholesale sales of electric energy,
capacity and specified ancillary services at market-based rates, including blanket approval for the issuance of securities and
assumption of liabilities under Section 204 of the FPA.

 

“MW”
means megawatt (alternating current).

 

“NERC”
means the North American Electric Reliability Corporation.

 

    7

     

    

 

“Option”
with respect to any Person means any security, right, subscription, warrant, option, “phantom” stock right or other
Contract that gives the right to (i) purchase or otherwise receive or be issued any shares of capital stock or other security or
equity interest of such Person or any security or right of any kind convertible into or exchangeable or exercisable for any shares
of capital stock or other security or equity interest of such Person, or (ii) receive or exercise any benefits or rights similar
to any rights enjoyed by or accruing to the holder of shares of capital stock (or any other equity interest or security) of such
Person, including any rights to participate in the equity or income of such Person or to participate in or direct the election
of any directors or officers (or similar positions) of such Person or the manner in which any shares of capital stock (or any other
security or equity interest) of such Person are voted.

 

“Order”
means any writ, judgment, injunction, ruling, decision, order or similar direction of any Governmental Authority, whether preliminary
or final.

 

“Party”
or “Parties” has the meaning set forth in the preamble to this Agreement.

 

“Permit”
means all licenses, permits, consents, authorizations, approvals, ratifications, certifications, exemptions, variances, exceptions
and similar consents granted or issued by or from, and filings and registrations with or delivered to, any Governmental Authority.

 

“Permitted Equity
Encumbrances” means (a) those restrictions on transfer imposed by applicable securities laws, (b) Liens
or restrictions imposed on transfers set forth in the Constitutive Documents of the Company or any Rosie Entity, (c) in
the case of the equity interests in, and assets of, TE HoldCo, Project HoldCo or the Project Company, Liens created pursuant to,
and securing any Indebtedness under, the Financing Documents, and (d) Liens or restrictions imposed on transfers set forth
in the Tax Equity Agreement.

 

“Permitted Exceptions”
means, with respect to the Real Property Rights, the following:

 

(a)          all
Liens for Taxes, which are not due and payable as of the Closing Date or, if due, are (i) not delinquent or (ii)
being contested in good faith through appropriate proceedings and set forth on Schedule 1.01 of the Disclosure Schedules
and as to which adequate reserves in accordance with GAAP have been taken on the books of the Company or the Rosie Entities;

 

(b)          all
building codes and zoning ordinances and other Laws of any Governmental Authority heretofore, now or hereafter enacted, made or
issued by any such Governmental Authority affecting the Real Property Rights;

 

(c)          all
easements, rights-of-way, covenants, conditions, restrictions, reservations, licenses, agreements, and other similar matters which
would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use and enjoyment of the Real Property
Rights;

 

(d)          all
encroachments, overlaps, boundary line disputes, shortages in area, drainage and other easements, cemeteries and burial grounds
and other similar matters which would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use
and enjoyment of the Real Property Rights;

 

    8

     

    

 

(e)          all
electric, telephone, gas, sanitary sewer, storm sewer, water and other utility lines, pipelines, service lines and facilities of
any nature now located on, over or under the Real Property Rights, and all licenses, easements, rights-of-way and other similar
agreements relating thereto which would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the
use and enjoyment of the Real Property Rights;

 

(f)           all
existing public and private roads and streets (whether dedicated or undedicated), and all railroad lines and rights-of-way affecting
the Real Property Rights which would not reasonably be expected to, in the aggregate, have a Material Adverse Effect on the use
and enjoyment of the Real Property Rights;

 

(g)          all
rights with respect to the ownership, mining, extraction and removal of minerals of whatever kind and character (including, without
limitation, all coal, iron ore, oil, gas, sulfur, methane gas in coal seams, limestone and other minerals, metals and ores) that
have been granted, leased, excepted or reserved prior to the date hereof which would not, in the aggregate, reasonably be expected
to have a Material Adverse Effect on the use and enjoyment of the Real Property Rights; and

 

(h)          inchoate
mechanic’s and materialmen’s liens for construction in progress and workmen’s, repairmen’s, warehousemen’s
and carrier’s liens arising in the ordinary course of business of the Company or the Rosie Entities (i) as to which
there is no existing default on the part of the Company or the Rosie Entities or (ii) that are being contested in good faith
through appropriate proceedings and as set forth on Schedule 1.01 of the Disclosure Schedules and as to which adequate reserves
in accordance with GAAP have been taken on the books of the Company or the Rosie Entities.

 

“Permitted Lien”
means any (a) mechanic’s, laborer’s, workmen’s, repairmen’s and carrier’s Liens, including
all statutory Liens (i) relating to obligations as to which there is no existing default on the part of the Company
or the Rosie Entities or (ii) that Seller is contesting in good faith through appropriate proceedings and set forth
on Schedule 1.01 of the Disclosure Schedules and as to which adequate reserves in accordance with GAAP have been taken on
the books of the Company or the Rosie Entities, as applicable; (b) Liens for Taxes, assessments and other governmental
charges not yet due and payable or, if due, (i) not delinquent or (ii) being contested in good faith through
appropriate proceedings and set forth on Schedule 1.01 of the Disclosure Schedules and as to which adequate reserves in
accordance with GAAP have been taken on the books of the Company or the Rosie Entities; (c) good faith deposits in
connection with bids, tenders, leases, contracts or other agreements, including rent security deposits; (d) pledges
or deposits to secure public or statutory obligations or appeal bonds; (e) in the case of personal property owned or
held by the Company or the Rosie Entities, covenants and other restrictions in the Company Contracts; (f) any Liens relating
to or arising from the Financing Documents; and (g) any other Liens set forth on Schedule 1.01 of the Disclosure Schedules.

 

“Person”
means any natural person, corporation, limited liability company, general partnership, limited partnership, proprietorship, other
business, entity, organization, trust, union, association or Governmental Authority.

 

    9

     

    

 

“Pricing Adjustments”
means:

 

[***]

 

“Project”
has the meaning set forth in the recitals to this Agreement.

 

“Project Company”
has the meaning set forth in the recitals to this Agreement.

 

“Projections”
has the meaning set forth in Section 3.01(aa).

 

“Prudent Industry
Practices” means those practices, methods, standards and procedures as are commonly used by a significant portion of
those providing operating services on solar facilities of a type and size similar to the Project, which in the exercise of reasonable
judgment and in the light of the facts known at the time the decision was made, are considered good, safe and prudent practice
in connection with the design, manufacture and construction and use of electrical and other equipment, facilities, equipment and
improvements, with commensurate standards of safety, performance, dependability, efficiency and economy.

 

“PUHCA”
means the Public Utility Holding Company Act of 2005 and the implementing regulations of the FERC thereunder.

 

“Purchase Price”
has the meaning set forth in Section 2.02.

 

“Purchaser”
has the meaning set forth in the preamble to this Agreement.

 

“Purchaser Indemnified
Parties” means Purchaser, its successors and permitted assigns, and each of their Representatives.

 

“Purchaser Parent”
means Clearway Energy Operating LLC, a Delaware limited liability company.

 

“Purchaser Parent
Guaranty” means that guaranty of Purchaser Parent dated as of the Closing Date and attached hereto as Exhibit H.

 

“Real Property
Rights” means all real property rights and interests of the Company or the Rosie Entities, including all options, leases,
easements, land use rights, access easements, transmission line easements, rights to ingress and egress, any and all bids, grants,
awards, applications, rights to negotiate, and all other rights relating to the Land.

 

    10

     

    

 

“Regional Entity”
means the Western Electricity Coordinating Council.

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, deposit, disposal, emptying, escaping, discharge, dispersal,
dumping, leaching or migration of Hazardous Substances into or upon any land, water, or air, including the movement of Hazardous
Substances through or in any land, water, or air, including the Land.

 

“Reports”
means the Environmental Report (as defined in the Tax Equity Agreement), the Independent Engineer Report (as defined in the Tax
Equity Agreement), the Transmission Report (as defined in the Tax Equity Agreement) and the Insurance Report (as defined in the
Tax Equity Agreement), including any bring downs of such reports delivered pursuant to the Tax Equity Agreement as of the date
hereof.

 

“Representatives”
means with respect to any Person, the officers, directors, employees, counsel, accountants, financing advisors, consultants and
agents of such Person.

 

“Retained Support
Obligation” has the meaning set forth in Section 5.01(b).

 

“Rosie A&R
LLCA” means that certain Second Amended and Restated Limited Liability Company Agreement of the Company, dated as of
the date hereof, by and among Purchaser, HASI and the Class C Member.

 

“Rosie Entity” or “Rosie
Entities” has the meaning set forth in the recitals to this Agreement.

 

“Seller”
has the meaning set forth in the preamble to this Agreement.

 

“Seller Approvals”
has the meaning set forth in Section 3.01(e).

 

“Seller Consents”
has the meaning set forth in Section 3.01(c).

 

“Seller Fundamental
Representations” has the meaning set forth in Section 6.03.

 

“Seller Indemnified
Parties” means Seller, its successors and permitted assigns, and each of their Representatives.

 

“Seller Parent”
means Clearway Renew LLC, a Delaware limited liability company.

 

“Seller Parent
Guaranty” means that guaranty of Seller Parent dated as of the Closing Date and attached hereto as Exhibit G.

 

“Shared Premises”
means “Shared Premises” (as defined in the Shared Facilities Agreement).

 

“Substantial
Completion Capital Contribution Date” means the Substantial Completion Capital Contribution Date as defined in the Tax
Equity Agreement.

 

“Substitute
Support Obligations” has the meaning set forth in Section 5.01(a).

 

“Support Obligations”
has the meaning set forth in Section 5.01(a).

 

“Tax”
or “Taxes” means any income, profits, gross or net receipts, property, sales, use, capital gain, transfer, excise,
license, production, franchise, employment, social security, occupation, payroll, registration, capital, governmental pension or
insurance, withholding, royalty, severance, stamp or documentary, value added, goods and services, business or occupation or other
tax, charge, assessment, duty, levy, unclaimed property or escheat obligation, compulsory loan or fee of any kind (including any
interest, additions to tax, or civil or criminal penalties thereon) of the United States or any state or local jurisdiction therein,
or of any other nation or any jurisdiction therein, together with any obligations for the Taxes of any other Person whether as
successor, a member of a group, indemnitor, or otherwise.

 

    11

     

    

 

“Tax Equity
Agreement” means that certain Equity Capital Contribution Agreement, dated as of February 25, 2020, by and among TE Class
B Member, TE HoldCo, and Morgan Stanley Renewables Inc., a Delaware corporation.

 

“Tax Equity
Investor” has the meaning set forth in the recitals to this Agreement.

 

“Tax Equity
Model” means the Base Case Model as defined in and updated pursuant to the Tax Equity Agreement.

 

“Tax Return”
means any report, form, return, statement or other information (including any amendments) supplied to or filed with, or required
to be supplied to or filed with a Governmental Authority by a Person with respect to Taxes, including information returns, any
amendments thereof or schedule or attachment thereto and any documents with respect to or accompanying requests for the extension
of time in which to file any such report, form, return, statement or other information.

 

“TE Class B
Member” has the meaning set forth in the recitals to this Agreement.

 

“Title Company”
means Stewart Title Guaranty Company.

 

“Title Policy”
means the ALTA 2006 extended coverage owner’s policy of title insurance, issued by the Title Company in favor of the Project
Company.

 

“Treasury Regulations”
means the final and temporary regulations promulgated by the U.S. Department of Treasury under the Code.

 

[***]

 

1.02.      Rules
of Interpretation.

 

(a)          Construction.
As used herein, the singular shall include the plural, the masculine gender shall include the feminine and neuter and the neuter
gender shall include the masculine and feminine unless the context otherwise indicates.

 

(b)         References.
References to Articles and Sections are intended to refer to Articles and Sections of this Agreement, and all references to Annexes,
Exhibits and Schedules are intended to refer to Annexes, Exhibits and Schedules attached to this Agreement, each of which is made
a part of this Agreement for all purposes. The terms “include,” “includes” and “including”
mean “including, without limitation” and “including but not limited to”. Any date specified for action
that is not a Business Day shall mean the first Business Day after such date. Any reference to a Person shall be deemed to include
such Person’s successors and permitted assigns. Any reference to any document or documents shall be deemed to refer to such
document or documents as amended, modified, supplemented or replaced from time to time in accordance with the terms of this Agreement.
References to laws refer to such laws as they may be amended from time to time, and references to particular provisions of a Law
include any corresponding provisions of any succeeding Law. The words “herein,” “hereof” and “hereunder”
and words of similar import shall refer to this Agreement as a whole and not to any particular section or subsection of this Agreement.
References to money refer to legal currency of the United States of America.

 

    12

     

    

 

(c)          Accounting
Terms. As used in this Agreement and in any certificate or other documents made or delivered
pursuant hereto, accounting terms not defined in this Agreement or in any such certificate or other document, and accounting terms
partly defined in this Agreement or in any such certificate or other document to the extent not defined, will have the respective
meanings given to them under GAAP. To the extent that the definitions of accounting terms in this Agreement or in any such certificate
or other document are inconsistent with the meanings of such terms under GAAP, the definitions contained in this Agreement or
in any such certificate or other document will control.

 

Article
2

SALE OF MEMBERSHIP INTERESTS AND CLOSING

 

2.01.     Purchase
and Sale. Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, all of the right, title and
interest of Seller in and to the Acquired Interests at the Closing on the terms and subject to the conditions set forth in this
Agreement.

 

2.02.     Payment
of Purchase Price. Upon the terms and subject to the conditions hereinafter set forth, in consideration of the delivery
by Seller of the Acquired Interests, Purchaser, by wire transfer of immediately available United States funds, shall pay to Seller
at the Closing an amount equal to Twenty-Three Million Three Hundred Twenty Thousand Two Hundred Seventy-Four Dollars ($23,320,274)
(the “Base Purchase Price” and, as adjusted pursuant to Section 2.04, the “Purchase Price”).

 

2.03.     Closing.

 

(a)          Subject
to the terms and conditions of this Agreement, the closing of the transactions described in Section 2.01 (the “Closing”)
will take place remotely via the electronic exchange of documents and signatures no later than (a) two (2) Business Days
following the fulfillment or waiver of the conditions set forth in Article 4 (other than those conditions that by their
nature are to be satisfied on the Closing Date) or (b) such other time as may be determined by mutual agreement of Seller
and Purchaser (the day on which the Closing takes place being the “Closing Date”).

 

(b)         At the Closing, the following shall occur:

 

(i)           Purchaser
shall pay the Base Purchase Price by wire transfer of immediately available funds to Seller’s account, which account shall
be communicated by Seller to Purchaser in writing no later than two (2) Business Days prior to the Closing;

 

(ii)          The
Parties shall deliver, or cause to be delivered, to the other Party the certificates and other deliverables pursuant to Article
4;

 

    13

     

    

 

(iii)         The
execution by both Parties of the Assignment of Membership Interests and all other agreements, documents, instruments or certificates
required to be delivered at or prior to the Closing pursuant to Article 4; and

 

(iv)         Seller
shall deliver to Purchaser a certificate or certificates representing the Acquired Interests, duly endorsed for transfer to Purchaser
or accompanied by one or more membership interests powers duly endorsed for transfer to Purchaser.

 

2.04.     Adjusted
Purchase Price Amount.

 

(a)          If,
as of the Substantial Completion Capital Contribution Date, the Adjusted Purchase Price Amount (as defined below) is positive,
the Base Purchase Price shall be increased by the Adjusted Purchase Price Amount and the amount of such increase shall be paid
by Purchaser to Seller on the date that is five (5) Business Days after the Substantial Completion Capital Contribution Date.
If, as of the Substantial Completion Capital Contribution Date, the Adjusted Purchase Price Amount is negative, the Base Purchase
Price shall be decreased by the Adjusted Purchase Price Amount and be paid by Seller to Purchaser on the date that is five (5)
Business Days after the Substantial Completion Capital Contribution Date. Any adjustment made under this Section 2.04 will
be treated as an adjustment to the Purchase Price for Tax purposes.

 

(b)         “Adjusted Purchase Price Amount” shall equal the number set forth in Tab PP Adj, Cell T9 of the Adjusted
Purchase Price Model.

 

Article
3

REPRESENTATIONS AND WARRANTIES

 

3.01.     Representations
and Warranties with respect to Seller, the Company and the Rosie Entities. Seller hereby represents and warrants to Purchaser
as of the Closing Date, as follows; provided that any representation and warranty set forth in this Section 3.01
and expressly stated to be made only as of a specified date shall be made solely as of such date:

 

(a)          Existence.
Seller is a limited liability company duly formed, validly existing and in good standing under the Laws of the State of Delaware.
Seller has full power and authority to execute and deliver this Agreement and any other agreements to be executed and delivered
by Seller hereunder, and to perform its obligations hereunder and thereunder and to consummate the transactions contemplated hereby
and thereby.

 

(b)          Authority.
All actions or proceedings necessary to authorize the execution and delivery by Seller of this Agreement and the performance by
Seller of its obligations hereunder have been duly and validly taken. This Agreement has been duly and validly executed and delivered
by Seller and constitutes the legal, valid and binding obligations of Seller enforceable against Seller in accordance with its
terms, except as the same may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, arrangement, moratorium
or other similar Laws relating to or affecting the rights of creditors generally, or by general equitable principles.

 

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(c)          No Consent. Except as set forth on Schedule 3.01(c) of the Disclosure Schedules (the “Seller
Consents”), and except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect, or would not reasonably be expected to adversely affect the ability of Seller to consummate the transactions contemplated
by this Agreement or to perform its obligations hereunder, the execution, delivery and performance by Seller of this Agreement
does not require Seller to obtain any consent, approval or action of or give any notice to any Person as a result or under any
terms, conditions or provisions of any Contract or Permit by which it is bound.

 

(d)          No
Conflicts. The execution, delivery and performance of this Agreement by Seller does not and will not (i) conflict
with, result in a breach of, or constitute a default under, the Constitutive Documents of Seller or the Company or any material
Contract to which Seller, or Company Contract to which the Company or the Rosie Entities, is a party; (ii) result
in the creation of any Lien upon any of the Acquired Interests or assets or properties of the Company or the Rosie Entities; (iii)
accelerate or modify, or give any party the right to accelerate or modify, the time within which, or the terms under which, any
duties or obligations are to be performed by Seller, the Company or the Rosie Entities or any rights or benefits are to be received
by any Person, under any Contract to which Seller, the Company or the Rosie Entities is a party; or (iv) violate in any
material respect any applicable Law.

 

(e)          Regulatory Matters. Except as set forth on Schedule 3.01(e) of the Disclosure Schedules (“Seller
Approvals”), no Governmental Approval is required on the part of Seller, the Company or the Rosie Entities in connection
with the execution, delivery and performance of this Agreement or the consummation of the transactions contemplated by this Agreement.

 

(f)           Legal Proceedings. Except as set forth in Schedule 3.01(f) of the Disclosure Schedules, and except for Actions
or Proceedings in respect of Environmental Laws that are governed exclusively by Section 3.01(p)(ii), there are no Actions
or Proceedings pending or, to the Knowledge of Seller, threatened, as of the date of this Agreement against Seller, the Company
or the Rosie Entities that (i) affect Seller, the Company or the Rosie Entities or any of their assets or properties (including
the Project), except, solely in respect of Seller, which would not reasonably be expected to have a material adverse effect on
Seller’s ability to perform under this Agreement or (ii) would reasonably be expected to result in the issuance of
an Order restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated
by this Agreement. None of Seller, the Company or the Rosie Entities is subject to any Order which materially restricts the operation
of its business or which would reasonably be expected to have a Material Adverse Effect.

 

(g)         Brokers.
Except as set forth on Schedule 3.01(g) of the Disclosure Schedules, no Person has any claim against the Seller, the
Company or the Rosie Entities for a finder’s fee, brokerage commission or similar payment directly or indirectly in connection
with the transactions contemplated by this Agreement.

 

(h)          Compliance
with Laws. Neither Seller, the Company nor the Rosie Entities is or, to the Knowledge of Seller, has been in the past six
(6) years in material violation of any material Law or Order applicable to the Company, the Rosie Entities or the Project or by
which any of the Acquired Interests are bound or subject. Notwithstanding the foregoing, compliance with Environmental Laws is
exclusively and solely governed by Section 3.01(p) hereof. None of Seller, the Company nor the Rosie Entities has
received notice from any Governmental Authority of any material violation of any such Law.

 

(i)          Company
and the Rosie Entities.

 

(i)           The
Company and the Rosie Entities are limited liability companies validly existing and in good standing under the Laws of Delaware,
and each has full power and authority to conduct its business as and to the extent now conducted and to own, use and lease its
assets. The Company and the Rosie Entities are duly qualified, licensed or admitted to do business and are in good standing in
those jurisdictions specified in Schedule 3.01(i) of the Disclosure Schedules, which are the only jurisdictions in
which the ownership, use or leasing of the Company’s assets and the Rosie Entities’ assets, or the conduct or nature
of their business, makes such qualification, licensing or admission necessary, except in those jurisdictions where the failure
to be so qualified, licensed or admitted to do business would not reasonably be expected to result in a Material Adverse Effect.

 

(ii)          Other
than Permitted Equity Encumbrances and except as set forth on Schedule 3.01(i)(ii) of the Disclosure Schedules:

 

(A)           all
of the issued and outstanding Acquired Interests are owned directly, beneficially and of record by Seller free and clear of all
Liens;

 

(B)           all
of the issued and outstanding equity interests of TE Class B Member are owned directly, beneficially and of record by the Company,
free and clear of all Liens;

 

(C)            all
of the issued and outstanding Class B Units (as defined in the Tax Equity Agreement) of TE HoldCo are owned directly, beneficially
and of record by TE Class B Member, free and clear of all Liens;

 

(D)           all
of the issued and outstanding equity interests of Project HoldCo are owned directly, beneficially and of record by TE HoldCo,
free and clear of all Liens; and

 

(E)            all
of the issued and outstanding equity interests of the Project Company are owned directly, beneficially and of record by Project
HoldCo, free and clear of all Liens.

 

(iii)         All
of the equity interests of the Company and the Rosie Entities have been duly authorized, validly issued and are fully paid and
non-assessable and have been issued in compliance with federal and state securities laws.

 

(iv)         The name of each director and officer (or similar positions) of the Company and the Rosie Entities, and the position with
the Company or the Rosie Entities held by each, are listed in Schedule 3.01(i)(iv) of the Disclosure Schedules.

 

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(v)              Seller
has, prior to the execution of this Agreement, delivered to Purchaser true and complete copies of the Constitutive Documents of
the Company and the Rosie Entities as in effect on the date hereof.

 

(vi)            
Except as set forth in Part I of Schedule 3.01(i)(vi) of the Disclosure Schedules, there are no outstanding Options
issued or granted by, or binding upon, the Company or the Rosie Entities for any Person to purchase or sell or otherwise acquire
or dispose of any equity interest or other security or interest in the Company or the Rosie Entities other than as set forth under
this Agreement, the Financing Documents, the Tax Equity Agreement or the Constitutive Documents of the Company and the Rosie Entities.
Except as set forth in Part II of Schedule 3.01(i)(vi) of the Disclosure Schedules, none of the Acquired Interests or the
membership interests of the Rosie Entities are subject to any voting trust or voting trust agreement, voting agreement, pledge
agreement, buy-sell agreement, right of first refusal, preemptive right or proxy other than as set forth under the Financing Documents,
the Tax Equity Agreement or the Constitutive Documents of the Company and the Rosie Entities.

 

(vii)            Except as set forth in Section 3.01(i)(ii) and as set forth on Schedule 3.01(i)(vii) of the Disclosure Schedules,
neither the Company nor the Rosie Entities have any subsidiaries, equity interests, interests in joint ventures or general or limited
partnerships or other investment or portfolio assets of a similar nature.

 

(viii)           Except as set forth on Schedule 3.01(i)(viii) of the Disclosure Schedules, neither the Company nor the Rosie
Entities conduct (i) any business other than the development, ownership, operation and management of the Project or
(ii) any operations other than those incidental to the ownership, operation, and management of the Project.

 

(ix)              The
books and records of the Company and the Rosie Entities are (i) in all material respects, accurate and complete and have
been maintained in accordance with good business practices and (ii) state in reasonable detail and accurately and fairly
reflect the activities and transactions of the Company and the Rosie Entities.

 

(x)               The (A) execution and delivery by Seller of the Assignment of Membership Interests and (B) if applicable,
the delivery of certificates representing the Acquired Interests, duly endorsed for transfer to Purchaser or accompanied by one
or more membership interest powers duly endorsed for transfer to Purchaser, will transfer to Purchaser good, valid and marketable
title to the Acquired Interests, free and clear of all Liens, other than Permitted Equity Encumbrances and except as set forth
in Schedule 3.01(i)(x) of the Disclosure Schedules.

 

(j)                 No
Undisclosed Liabilities. Neither the Company nor the Rosie Entities has any liability or obligation that would be required
to be disclosed on a balance sheet prepared in accordance with GAAP, except for the liabilities and obligations of the Company
or the Rosie Entities (i) incurred in the ordinary course of business consistent with past practice, (ii) that do
not and are not individually or in the aggregate reasonably expected to have a Material Adverse Effect, (iii) that constitute amounts
payable under the Company Contracts expressly provided for under existing Company Contracts that have not arisen from a breach
thereof or thereunder or (iv) as set forth in Schedule 3.01(j) of the Disclosure Schedules.

 

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(k)                Taxes.
Except as disclosed on Schedule 3.01(k) of the Disclosure Schedules, since the date of formation of the Company and each
of the Rosie Entities, as applicable:

 

(i)               All federal and all other material Tax Returns required to be filed by or with respect to the Company or the Rosie Entities
(or income attributable thereto) have been timely filed with the appropriate Governmental Authorities in all jurisdictions in which
such Tax Returns are required to be filed. Such Tax Returns are true, correct and complete in all material respects, to the extent
such Tax Returns relate to the Company or the Rosie Entities (or income attributable thereto), and Seller, Affiliates of Seller,
the Company and the Rosie Entities have paid, or made adequate provisions for the payment of, all Taxes, assessments and other
charges due or claimed to be due (regardless of whether shown on any Tax Return) from the Company or the Rosie Entities or for
which the Company, Rosie Entities or the Purchaser could be held liable.

 

(ii)              There
are no (i) Actions or Proceedings currently pending or threatened in writing against the Company or the Rosie Entities or related
to their business operations, by any Governmental Authority for the assessment or collection of Taxes, (ii) audits or other examinations
of any Tax Return of the Company or the Rosie Entities (or income attributable thereto) in progress nor has Seller, any Affiliate
of Seller, the Company or the Rosie Entities been notified in writing of any request for examination with respect to the Company
or the Rosie Entities, (iii) claims for assessment or collection of Taxes that have been asserted in writing against Seller or
any Affiliate of Seller with respect to the Company or the Rosie Entities, the Company or the Rosie Entities (or the income attributable
thereto) or (iv) matters under discussion with any Governmental Authority regarding claims for assessment or collection of Taxes
against the Company or the Rosie Entities (or income attributable thereto). There are no outstanding agreements, waivers or consents
extending the statutory period of limitations applicable to any Tax of the Company or the Rosie Entities, and, except as set forth
on Schedule 3.01(k) of the Disclosure Schedules, neither the Company nor the Rosie Entities has requested any extensions
of time within which to file any Tax Return. There are no Liens for unpaid or delinquent Taxes, assessments or other charges or
deposits with respect to the Acquired Interests, other than Liens for Taxes not yet due or delinquent or being contested in good
faith by appropriate proceedings and for which adequate reserves on financial statements have been established.

 

(iii)             Seller
is not, and its owner for U.S. federal income tax purposes is not, a “foreign person” within the meaning of Code Sections
1445(b)(2) and 1446(f).

 

(iv)             The
Company and the Rosie Entities have been properly classified for federal and state income Tax purposes as disregarded entities
or partnerships under Treasury Regulations Section 301.7701-2 and -3 and neither Seller nor any Affiliate of Seller has made or
caused to be made any election for any Tax purposes to classify the Company or the Rosie Entities as other than a disregarded
entity or partnership.

 

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(v)              Neither
the Company nor the Rosie Entities is a party to any Tax allocation, Tax sharing or other similar agreement, other than customary
Tax indemnification or other provisions contained in any credit or other ordinary course commercial agreements the primary purpose
of which does not relate to Taxes.

 

(vi)             Neither
the Company nor the Rosie Entities, nor Seller or any Affiliate of Seller with respect to the assets or operations of the Company
or the Rosie Entities, is or has ever entered into or been a party to any “listed transaction,” as defined in Section
1.6011-4(b)(2) of the Treasury Regulations.

 

(vii)            None
of the property owned by either the Company or the Rosie Entities is “tax exempt use property” within the meaning
of Section 168(h) of the Code or “tax exempt bond financed property” within the meaning of Code Section 168(g)(5).

 

(l)                
Employees. Neither the Company nor the Rosie Entities has, nor has ever had, any employees or any liability, actual
or contingent, with respect to any Employee Plan.

 

(m)               Company
Contracts.

 

(i)               Schedule 3.01(m)(i)
of the Disclosure Schedules contains a true, correct and complete list of all material Contracts and amendments, modifications
and supplements thereto, to which the Company or the Rosie Entities is a party or by which the Company, the Rosie Entities or
any of their assets or properties are bound (collectively, the “Company Contracts”), which includes:

 

(A)             all
Contracts for the purchase, exchange or sale of electric power, capacity, ancillary services or Environmental Attributes;

 

(B)             
all Contracts for the transmission of electric power;

 

(C)             
all interconnection Contracts for electricity;

 

(D)              all Contracts with Seller, HASI or any of their respective Affiliates; and

 

(E)               all
Contracts relating to the Acquired Interests or membership interests of the Company or the Rosie Entities.

 

(ii)               Seller
has provided Purchaser with, or access to, true, correct and complete copies of all the Company Contracts and the agreements described
on Schedule 3.01(m)(i) of the Disclosure Schedules, and all amendments, modifications and supplements thereto. Each
Company Contract constitutes the legal, valid, binding and enforceable obligation of the Company or the Rosie Entities party thereto
and to the Knowledge of Seller, the other parties thereto, except as may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium and other similar laws of general application affecting the rights and remedies of creditors, and (ii) general
principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law). Each Company
Contract is in full force and effect.

 

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(iii)              Except as disclosed on Schedule 3.01(m)(iii) of the Disclosure Schedules, neither the Company nor the Rosie
Entities or, to the Knowledge of Seller, the other parties thereto, is in material violation or material breach of or material
default under any Company Contract to which it is a party.

 

(iv)             None
of Seller, the Company or any of the Rosie Entities has given or received notice or other written communication regarding any
actual, alleged, possible or potential material violation or material breach with respect to any material provision of, or any
material default under, or intent to cancel or terminate, any Company Contract, which violation, breach or default has not been
remedied, cured or waived or for which any such intent to cancel or terminate has been withdrawn.

 

(n)                Real Property.

 

(i)               Schedule
3.01(n)(i) of the Disclosure Schedules lists all Real Property Rights of the Company and the Rosie Entities, the real property
in which the Company and the Rosie Entities have Real Property Rights, and appurtenances thereto (collectively, the “Land”).
The Land is free and clear of all Liens except (A) for Permitted Exceptions and (B) as disclosed in the Title Policy.

 

(ii)               Except
as set forth on Schedule 3.01(n)(ii) of the Disclosure Schedules, neither the Company nor the Rosie Entities has entered
into any assignment, lease, license, sublease, easement or other agreement granting to any Person any right to the possession,
use, occupancy or enjoyment of the Land.

 

(iii)              Neither
the Company nor the Rosie Entities has caused or suffered to exist any easement, right-of-way, covenant, condition, restriction,
reservation, license, agreement or other similar matter that would materially interfere with the operation of the Project or the
business of the Company or the Rosie Entities in respect of the Real Property Rights, except as set forth on Part I of Schedule
3.01(n)(iii) of the Disclosure Schedules or in the Title Policy.

 

(iv)             Except
as set forth on Part II of Schedule 3.01(n)(iii) of the Disclosure Schedules, the Real Property Rights are all the real
property rights necessary for the Company and the Rosie Entities to develop, construct, own and operate the Project.

 

(v)              None of Seller, the Company or the Rosie Entities has received any written notice of (A) condemnation, eminent domain
or similar governmental proceeding materially affecting, individually or in the aggregate, the Project or (B) zoning, ordinance,
building, fire, health, or safety code violations materially affecting the Project.

 

(o)                Title
Policy. Seller has provided to Purchaser a true and correct copy of the Title Policy covering the Real Property Rights. The
Real Property Rights are subject only to (i) Permitted Exceptions, (ii) matters disclosed in the Title Policy and
(iii) matters consented to in writing by Purchaser.

 

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(p)                Environmental.

 

(i)                Except
as set forth on Schedule 3.01(p)(i) of the Disclosure Schedules, the Company and the Rosie Entities are in compliance
with all Environmental Laws, except to the extent that any such material non-compliance would not reasonably be expected to have
a Material Adverse Effect. There is no material violation of any Environmental Law or other material liability arising under any
Environmental Law with respect to the Project or the Land.

 

(ii)               There
are no Actions or Proceedings pending or, to the Knowledge of Seller, threatened, as of the date of this Agreement against Seller,
the Company or the Rosie Entities relating to any material violation of Environmental Law. None of Seller, the Company or the
Rosie Entities has received notice from any Governmental Authority of any material violation of any Environmental Law.

 

(iii)             Schedule 3.01(p)(iii)
of the Disclosure Schedules sets forth all material Permits required pursuant to any Environmental Law to be acquired or held
by or for the benefit of Seller, the Company or the Rosie Entities for the development, construction, ownership, use or operation
of the Land or the business of the Company and the Rosie Entities as currently conducted. Except as set forth in Schedule 3.01(p)(iii)
of the Disclosure Schedules, such Permits have been obtained in a timely manner and are presently maintained in full force
and effect in the name of the Company or the Rosie Entities.

 

(iv)             To
the Knowledge of Seller, there has been no Release of Hazardous Substances at or from the Project in violation of Environmental
Laws or Permits required by or issued pursuant to any Environmental Law for the development, construction, ownership, use or operation
of the Land or the business of the Company and the Rosie Entities as currently conducted that would be reasonably expected to
trigger any obligation of Seller, the Company or the Rosie Entities under Environmental Laws to report, investigate, remove or
remediate such Release.

 

(v)              Seller
has made available to Purchaser all material environmental reports, assessments and documents that are in the possession of Seller,
the Company or the Rosie Entities and that relate to actual or potential material liabilities or obligations under Environmental
Laws with respect to the Project or the Land.

 

(q)                Permits.

 

(i)               Schedule 3.01(q)(i)
of the Disclosure Schedules sets forth all material Permits required pursuant to any Law to be acquired or held by or for
the benefit of Seller, the Company or the Rosie Entities in connection with the development, construction, ownership, maintenance,
or operation of the Project, except for those required by the Environmental Laws, which are exclusively and solely governed by
Section 3.01(p) hereof, or those of a type that are routinely granted on application and for which none of Seller, the
Company or the Rosie Entities has reason to believe will not be obtained in due course. Except as set forth in Schedule 3.01(q)(i)
of the Disclosure Schedules, such Permits have been obtained in a timely manner and are presently maintained in full force
and effect in the name of the Company or the Rosie Entities.

 

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(ii)               Except
as set forth on Schedule 3.01(q)(ii) of the Disclosure Schedules, and except as relates to compliance with Environmental
Laws which is exclusively and solely governed by Section 3.01(p) hereof, Seller, the Company and the Rosie Entities are
in material compliance with each such Permit, and in compliance with the FPA and PUHCA, except where the failure to so comply
would not reasonably be expected to have a Material Adverse Effect, and have received no written notice of violation or noncompliance
from any Governmental Authority which violation or noncompliance has not been remedied or any written notice or claim asserting
or alleging that any such Permit (i) is not in full force and effect, or (ii) is subject to any Action
or Proceeding or unsatisfied condition, in each case of clause (i) and (ii) which has not been remedied or resolved.

 

(iii)              There
are no proceedings pending or, to the Knowledge of Seller, threatened which would reasonably be expected to result in the modification,
revocation or termination of any material Permit set forth in Schedule 3.01(q)(i) of the Disclosure Schedules.

 

(r)                 Affiliate
Transactions. Except as disclosed on Schedule 3.01(r) of the Disclosure Schedules or under the Company Contracts,
and except for this Agreement, there are no existing or pending transactions, Contracts or Liabilities between or among the Company
or the Rosie Entity on the one hand, and Seller or any of Seller’s Affiliates on the other hand.

 

(s)               
Intellectual Property.

 

(i)                To
the Knowledge of Seller, except as set forth in Schedule 3.01(s)(i) of the Disclosure Schedules, there is not now
and has not been during the past three (3) years any infringement or misappropriation by Seller of any valid patent, trademark,
trade name, servicemark, copyright, trade secret or similar intellectual property which relates to the Acquired Interests or the
assets of the Company or the Rosie Entities and which is owned by any third party, and there is not now any existing or, to the
Knowledge of Seller, threatened claim against Seller of infringement or misappropriation of any patent, trademark, trade name,
servicemark, copyright trade secret or similar intellectual property which directly relates to the Acquired Interests or the assets
of the Company or the Rosie Entities and which is owned by any third party and which, in each case, would reasonably be expected
to have a Material Adverse Effect.

 

(ii)               The Company and each of the Rosie Entities owns or has the valid right to use pursuant to license, sublicense, agreement
or permission, in each case free and clear of all Liens other than Permitted Liens, any intellectual property necessary for it
to conduct its business as currently conducted, other than such intellectual property the absence of which ownership or the right
to use would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(iii)              There
is no pending or, to the Knowledge of Seller, threatened claim by Seller against others for infringement or misappropriation of
any trademark, trade name, servicemark, copyright, trade secret or similar intellectual property owned by Seller and which is
utilized in the conduct of the business of the Company or the Rosie Entities that would reasonably be expected to have a Material
Adverse Effect.

 

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(t)                 Insurance.
Schedule 3.01(t) of the Disclosure Schedules contains a true, correct and complete list of all insurance policies
as of the date of this Agreement that insure the assets and properties and business of the Company or the Rosie Entities or affect
or relate to the ownership of any of the assets and properties the Company or the Rosie Entities. Seller has delivered to Purchaser
detailed summaries of all the insurance policies set forth on Schedule 3.01(t) of the Disclosure Schedules, all of which
are in full force and effect. None of Seller, the Company or the Rosie Entities has received any notice with respect to the assets
and properties and business of the Company or the Rosie Entities from any insurer under any insurance policy applicable to the
assets and properties and business of the Company or the Rosie Entities disclaiming coverage, reserving rights with respect to
a particular claim or such policy in general or canceling any such policy. All premiums due and payable under all such policies
have been paid and the terms of such policies have been complied with by Seller, the Company and the Rosie Entities, as applicable,
in all material respects. The insurance maintained by or on behalf of the Company or the Rosie Entities is adequate to comply
with all Laws and Company Contracts. Except as set forth on Schedule 3.01(t) of the Disclosure Schedules, there are no
pending insurance claims. Seller expects insurance coverage for property damage and business interruption for the Project as described
in the property and casualty policies set forth on Schedule 3.01(t) of the Disclosure Schedules to continue in all material
respects after the Closing Date. Furthermore, at the expiration of such policies, Seller expects the aforementioned policies to
be renewed with terms substantially identical to those described in the policies above.

 

(u)              
Balance Sheet. Seller has previously delivered to Purchaser true, correct and complete copies of the most recent
unaudited balance sheet (the “Balance Sheet”) of the Company and the Rosie Entities on a consolidated basis
for the quarter ended September 30, 2020 (the “Balance Sheet Date”). The Balance Sheet (i) fairly presents,
in all material respects, the consolidated financial position and consolidated results of operations of the Company and the Rosie
Entities, as of the Balance Sheet Date, (ii) has been prepared in accordance with GAAP consistently applied during the period(s)
involved except as otherwise noted therein, subject to normal and recurring year-end adjustments that have not been and are not
expected to be material in amount, and (iii) has been prepared from the books and records of the Company and the Rosie Entities.

 

(v)              
Absence of Changes. Except as set forth on Schedule 3.01(v) of the Disclosure Schedules, since the Balance
Sheet Date (except as otherwise indicated in subparagraph (vii) below) until the date of this Agreement, there has not been:

 

(i)                any
repurchase, redemption or other acquisition of any equity interests of the Company or the Rosie Entities or any interests convertible
into equity interests of the Company or the Rosie Entities or any other change in the capitalization or ownership of the Company
or the Rosie Entities;

 

(ii)               any
merger of the Company or the Rosie Entities into or with any other Person, consolidation of the Company or the Rosie Entities
with any other Person or acquisition by the Company or the Rosie Entities of all or substantially all of the business or assets
of any Person;

 

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(iii)              any
action by the Company or the Rosie Entities or any commitment entered into by any member of the Company or the Rosie Entities
with respect to or in contemplation of any liquidation, dissolution, recapitalization, reorganization or other winding up of its
business or operations;

 

(iv)             any
material change in accounting policies or practices (including any change in depreciation or amortization policies) of the Company
or the Rosie Entities, except as required under GAAP;

 

(v)              any
sale, lease (as lessor), transfer or other disposal of (including any transfers to any of its Affiliates), or mortgage or pledge,
or imposition of any Lien on, any of its assets or properties, or interests therein, other than (x) inventory and personal property
sold or otherwise disposed of in the ordinary course of business, and (y) Permitted Liens;

 

(vi)            
any creation, incurrence, assumption or guarantee, or agreement to create, incur, assume or guarantee any Indebtedness for
borrowed money or entry into any “keep well” or other agreement to maintain the financial condition of another Person
into any arrangement having the economic effect of any of the foregoing (including entering into, as lessee, any capitalized lease
obligations as defined in Statement of Financial Accounting Standards No. 13); or

 

(vii)            any event, circumstance, condition or change relating or with respect to the Company or the Rosie Entities that would reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(w)               Bank
Accounts. Schedule 3.01(w) of the Disclosure Schedules sets forth the names and locations of banks, trust companies
and other financial institutions at which the Company or the Rosie Entities maintain bank accounts or safe deposit boxes, in each
case listing the type of account, the account number, and the names of all Persons authorized to draw thereupon or who have access
thereto.

 

(x)                 Regulatory
Status.

 

(i)                The
Project Company is an “exempt wholesale generator,” as such term is defined in PUHCA. As an “exempt wholesale
generator,” the Project Company is exempt from PUHCA to the extent provided for in 18 C.F.R. § 366.7(e).

 

(ii)               Company
and each of the Rosie Entities other than the Project Company is a “holding company,” as defined in PUHCA, solely
with respect to its direct or indirect, as applicable, ownership of the Project Company and, therefore, Company and each of the
Rosie Entities other than the Project Company is entitled to the exemptions and waivers set forth in at 18 C.F.R. § 366.3(a).
The Project Company is not a “holding company.”

 

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(iii)              As
of the Closing Date, Purchaser, solely by virtue of its indirect ownership of the Project Company, will not be subject to, or
will not lose the exemption from, (A) FERC regulation as an “electric utility company,” a “public-utility
company,” or a “holding company,” or an “affiliate” or “subsidiary company” as defined
under PUHCA, or as “public utility” under the FPA, and (B) CPUC regulation as a “public utility”
or an “electrical corporation.”

 

(iv)              Neither
the Company nor any of the Rosie Entities other than the Project Company is subject to regulation as a “public utility”
as that term is defined under FPA Section 201(e). The Project Company has received MBR Authorization. Neither the Company nor
any of the Rosie Entities is subject to regulation by the CPUC as a “public utility” or, other than the Project Company,
an “electrical corporation.”

 

(y)                Support
Obligations. Schedule 3.01(y) of the Disclosure Schedules sets forth a true and complete list of all the Support Obligations.

 

(z)                 Disclosures.
To the Knowledge of Seller, no representation or warranty by Seller contained in this Agreement, and no statement contained in
the Disclosure Schedules or any other document, certificate or other instrument delivered to or to be delivered by or on behalf
of Seller, the Company or the Rosie Entities contains, or will contain any untrue statement of a material fact or omits or will
omit to state any material fact necessary, in light of the circumstances under which it was or will be made, in order to make
the statements herein or therein not misleading when taken as a whole.

 

(aa)              Reports.
Seller has made available to Purchaser true, complete and correct copies of all Reports delivered pursuant to the Tax Equity Agreement
as of the Closing Date.

 

(bb)              Projections.
Seller has prepared the financial projections for the Company and the Rosie Entities, which are reflected in the Base Case Model
(the “Projections”), in good faith. To the Knowledge of Seller, the Projections (i) are based on reasonable
assumptions, (ii) are consistent in all material respects with Prudent Industry Practices, and (iii) reflect all
material payments to be made by the Company or the Rosie Entities to Sellers or its Affiliates.

 

(cc)              No
Other Warranties. Except for the warranties set forth herein, the Acquired Interests
are being sold hereunder on an “as is,” “where is” basis. The warranties set forth herein are exclusive
and are in lieu of all other warranties, whether statutory, written or oral, express or implied; Seller provides no other warranties
with respect to the Acquired Interests, the Company, the Project, the Rosie Entities, the assets of the Company, or the assets
of the Rosie Entities, including implied warranties of merchantability and fitness for a particular purpose, and warranties arising
from course of dealing or usage of trade, all of which are expressly disclaimed. Except as expressly set forth in Section 3.01,
Seller makes no representation or warranty to Purchaser with respect to any financial projections, forecasts or forward looking
statements of any kind or nature whatsoever relating to the Company, the Project, the Rosie Entities, the assets of the Company,
the assets of the Rosie Entities or the Acquired Interests.

 

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3.02.         Representations and Warranties with Respect to Purchaser. Purchaser hereby represents to Seller as of the Closing
Date, as follows; provided that any representation and warranty set forth in this Section 3.02 and expressly stated
to be made only as of a specified date shall be made solely as of such date:

 

(a)                Existence.
Purchaser is a limited liability company duly formed, validly existing and in good standing under the Laws of the State of
Delaware. Purchaser has full power and authority to execute and deliver this Agreement and each other agreement required to be
executed by it pursuant to the terms hereof, to perform its obligations hereunder and thereunder and to consummate the transactions
contemplated hereby and thereby and to own or lease its assets and properties and to carry on its business as currently conducted.

 

(b)                Authority.
All actions or proceedings necessary to authorize the execution and delivery by Purchaser of this Agreement, and the performance
by Purchaser of its obligations hereunder, have been duly and validly taken. This Agreement has been duly and validly executed
and delivered by Purchaser and constitutes legal, valid and binding obligation of Purchaser enforceable against Purchaser in accordance
with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, arrangement,
moratorium or other similar Laws relating to or affecting the rights of creditors generally, or by general equitable principles.

 

(c)                No
Consent. Except as disclosed on Schedule 3.02(c) of the Disclosure Schedules, and except as would not,
individually or in the aggregate, reasonably be expected to adversely affect the ability of Purchaser to consummate the transactions
contemplated by this Agreement or to perform its obligations hereunder, the execution, delivery and performance by Purchaser of
this Agreement does not require Purchaser to obtain any consent, approval or action of or give any notice to any Person as a result
or under any terms, conditions or provisions of any Contract by which it is bound.

 

(d)                No
Conflicts. The execution, delivery and performance of this Agreement by Purchaser does not and will not (i)
conflict with, result in a breach of, or constitute a default under, Purchaser’s Constitutive Documents, or any material
Contract to which Purchaser is a party, (ii) result in the creation of any Lien upon any of the assets or properties of
Purchaser or (iii) accelerate or modify, or give any party the right to accelerate or modify, the time within which, or
the terms under which, any duties or obligations are to be performed by Purchaser, or any rights or benefits are to be received
by any Person, under any material Contract to which Purchaser is a party.

 

(e)                Permits
and Filings. Except as disclosed on Schedule 3.02(e) of the Disclosure Schedules, no Permit is required on the
part of Purchaser in connection with the execution, delivery and performance of this Agreement, the consummation of the transactions
contemplated hereby or thereby or any borrowing or other action by Purchaser or any of its Affiliates in connection with obtaining
or maintaining sufficient financing to provide the payment of the Purchase Price.

 

    25

     

    

 

(f)                 Legal
Proceedings. There are no Actions or Proceedings pending or, to the knowledge of Purchaser, threatened as of the date of this
Agreement against Purchaser that affects Purchaser or any of its assets or properties which would reasonably be expected to result
in the issuance of an Order restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions
contemplated by this Agreement.

 

(g)                Purchase for Investment. Purchaser (i) is acquiring the Acquired Interests for its own account and not
with a view to distribution, (ii) is an “accredited investor” as such term is defined in Rule 501(a)
under the Securities Act of 1933, (iii) has sufficient knowledge and experience in financial and business matters so
as to be able to evaluate the merits and risk of an investment in the Acquired Interests and is able financially to bear the risks
thereof, and (iv) understands that the Acquired Interests will, upon purchase, be characterized as “restricted
securities” under state and federal securities laws and that under such laws and applicable regulations the Acquired Interests
may be resold without registration under such laws only in certain limited circumstances. Purchaser agrees that it will not sell,
convey, transfer or dispose of the Acquired Interests, unless such transaction is made pursuant to an effective registration statement
under applicable federal and state securities laws or an exemption from registration requirements of such securities laws.

 

(h)                Brokers.
Except as set forth on Schedule 3.02(h) of the Disclosure Schedules, no Person has any claim against Purchaser for a finder’s
fee, brokerage commission or similar payment directly or indirectly in connection with the transactions contemplated by this Agreement.

 

(i)                 Governmental
Approvals. Except as set forth on Schedule 3.02(i) of the Disclosure Schedules or which have already been obtained,
no Governmental Approval is required on the part of Purchaser in connection with the execution, delivery and performance of this
Agreement or the consummation of the transactions contemplated hereby.

 

(j)                 Compliance
with Laws. Purchaser is not in material violation of any Law except where any such material violation would not in the aggregate
reasonably be expected to have a material adverse effect on Purchaser’s ability to satisfy its obligations under this Agreement.

 

(k)                Due
Diligence. Purchaser, or its Representatives, have had the opportunity to conduct all such due diligence investigations of
the Acquired Interests, the Company, the Rosie Entities and the Project as they deemed necessary or advisable in connection with
entering into this Agreement and the related documents and the transactions contemplated hereby and thereby. Purchaser
has relied solely on its independent investigation and the representations and warranties made by Seller in Section 3.01
in making its decision to acquire the Acquired Interests and has not relied on any other statements or advice from Seller or its
Representatives.

 

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Article
4

CONDITIONS PRECEDENT

 

4.01.         Closing
Date Conditions Precedent. The obligations of the Parties to sell and purchase, respectively, the Acquired Interests
are subject to the fulfillment (or waiver by the applicable Party), at or before the Closing, by the applicable Party of each
of the following conditions:

 

(a)                 Tax
Equity Financing. The Initial Capital Contribution Date under the Tax Equity Agreement shall have occurred.

 

(b)                Approvals/Consents.
All consents of Purchaser specified on Schedule 3.02(c) of the Disclosure Schedules and all approvals of Purchaser
specified in Schedule 3.02(i) of the Disclosure Schedules shall have been obtained by the Purchaser; and all Seller
Approvals and Seller Consents shall have been obtained by the Seller and shall in each case be in full force and effect.

 

(c)                Litigation.
No Order shall have been entered which restrains, enjoins or otherwise prohibits or makes illegal the consummation of any of the
transactions contemplated by this Agreement and no Action or Proceeding shall have been instituted before any Governmental Authority
of competent jurisdiction seeking to restrain, enjoin or otherwise prohibit or make illegal the consummation of any of the transactions
contemplated by this Agreement.

 

(d)                Seller
Representations and Warranties. The representations and warranties made by Seller in this Agreement shall be true and correct
in all material respects (except for any of such representations and warranties that are qualified by materiality, including by
reference to Material Adverse Effect, which shall be true and correct in all respects) on and as of the Closing Date as though
such representations and warranties were made on and as of the Closing Date, except to the extent such representations and warranties
expressly relate to an earlier date, in which case as of such earlier date.

 

(e)                Seller
Covenants. The covenants and obligations required by this Agreement to be performed or complied with by Seller at or before
the Closing Date have been duly performed or complied with in all material respects.

 

(f)                 Material
Adverse Effect. There will not exist on the Closing Date any condition or fact that, individually or in the aggregate, has
or would reasonably be expected to result in a Material Adverse Effect.

 

(g)                Purchaser
Representations and Warranties. The representations and warranties made by Purchaser in this Agreement shall be true and correct
in all material respects (except for any of such representations and warranties that are qualified by materiality, which shall
be true and correct in all respects) on and as of the Closing Date as though such representations and warranties were made on
and as of the Closing Date, except to the extent such representations and warranties expressly relate to an earlier date, in which
case as of such earlier date.

 

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(h)                Purchaser
Covenants. The covenants and obligations required by this Agreement to be performed or complied with by Purchaser at or before
the Closing Date have been duly performed or complied with in all material respects.

 

(i)                 Withholding
Certificate. The Seller shall have delivered to the Purchaser a certificate in form and substance reasonably satisfactory
to the Purchaser, certifying that the transactions contemplated by this Agreement are exempt from withholding under Code Sections
1445 and 1446(f).

 

(j)                 Rosie
A&R LLCA. Each of HASI, Purchaser and the Class C Member shall have delivered executed counterparts to the Rosie A&R
LLCA in escrow to be released concurrently with the Closing.

 

(k)              
[***]

 

(l)                
Certificates; Other Ancillary Documents.

 

(i)                Seller
shall have delivered to Purchaser (A) a certificate, dated as of the Closing Date and executed by an authorized officer
of Seller, substantially in the form and to the effect of Exhibit B; and (B) a certificate, dated as of
the Closing Date and executed by the Secretary of Seller, substantially in the form and to the effect of Exhibit C.

 

(ii)               Purchaser
shall have delivered to Seller (A) a certificate, dated as of the Closing Date and executed by an authorized officer
of Purchaser, substantially in the form and to the effect of Exhibit D; and (B) a certificate, dated as
of the Closing Date and executed by the Secretary of Purchaser substantially in the form and to the effect of Exhibit E.

 

Article
5

Certain Covenants

 

5.01.         Purchaser’s
Substitute Support Obligations. 

 

(a)                               Purchaser acknowledges that Seller and certain Affiliates have provided certain credit support pursuant to the support obligations
and related agreements described on Schedule 3.01(y) of the Disclosure Schedules (the “Support Obligations”).
From the Closing Date and continuing until the replacement and/or release of each Support Obligation, Purchaser shall use commercially
reasonable efforts to negotiate a replacement of each Support Obligations (each, a “Substitute Support Obligation”)
with the beneficiary thereof and/or to effect the complete and unconditional release of such Support Obligation in a manner reasonably
satisfactory to Purchaser, Seller and the beneficiary thereof, including by means of a letter of credit, escrow, posting a bond
or cash deposit or other arrangements. The effective date of the Substitute Support Obligations shall be no earlier than the Closing
Date.

 

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(b)                From the Closing Date and continuing until the earlier of (i) the effective date of the applicable Substitute Support
Obligation and (ii) the date such Support Obligation is no longer required to be maintained under the applicable Company
Contract, Seller shall, and shall cause its Affiliates to, (x) maintain each Support Obligation in full force and effect
in accordance with the requirements under the applicable Company Contract, (y) perform all of its obligations under each
Support Obligation and (z) not amend, modify, grant a waiver in respect of, cancel or consent to the termination of such
Support Obligation; provided, however, that solely to the extent that a Support Obligation cannot be released, terminated
or replaced by Purchaser at or prior to the Closing (a “Retained Support Obligation”), subject to Section
5.01(c) below, Seller shall, and shall cause its Affiliates to, perform its obligations with respect to such Retained Support
Obligation.

 

(c)                To
the extent there is a Retained Support Obligation, Purchaser shall (i) indemnify and hold harmless Seller and its
Affiliates (as applicable) from and against any and all Losses that may be suffered, incurred or sustained by any of them or to
which any of them become subject, resulting from a claim on any such Retained Support Obligation after the Closing Date and arising
out of or relating to the business, operations, properties, assets or obligations of the Company or the Rosie Entities conducted,
existing or arising after the Closing (including as a result of any draw or demand for or making of any payment by Seller or any
such Affiliate of Seller under any Support Obligation), (ii) diligently continue to seek the release, termination and replacement
of such Support Obligation, and (iii) reimburse Seller or its Affiliates (as applicable) for the actual out-of-pocket costs
of, and fees paid by, Seller or its Affiliates in maintaining such Retained Support Obligation accruing at any time after the
Closing and until such time as such Retained Support Obligation is replaced; provided that Purchaser’s indemnification
obligations under clause (i) shall not affect Seller’s indemnification obligations under Section 5.01(d) or Section
6.01.

 

(d)                Following
the replacement of a Support Obligation by Purchaser for the Project pursuant to a Substitute Support Obligation, Seller shall
indemnify and hold harmless Purchaser and its Affiliates (as applicable) from and against any and all Losses that may be suffered,
incurred or sustained by any of them or to which any of them become subject, resulting from a claim on any such Substitute Support
Obligation and arising out of or relating to the business, operations, properties, assets or obligations of the Company or the
Rosie Entities conducted, existing or arising at or prior to the Closing (including as a result of any draw or demand for or making
of any payment by Purchaser or any such Affiliate of Purchaser under any Substitute Support Obligation).

 

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5.02.         Tax
Matters. 

 

(a)                All
real property Taxes, personal property Taxes and similar obligations of the Company and Rosie Entities imposed by any Governmental
Authority that are due or become due for Tax periods within which the Closing Date occurs shall be apportioned between Seller
for the pre-Closing Date period (which shall include the Closing Date), on the one hand, and the Company (or the applicable Rosie
Entity) for the post-Closing Date period, on the other hand, as of the Closing Date, based upon the actual number of days of the
Tax period that have elapsed before and after the Closing Date, and all income Taxes imposed on the Company and the Rosie Entities
shall be allocated between the pre-Closing Date period and the post-Closing Date period as though a taxable year of the Company
and the Rosie Entities (as applicable) has ended on (and includes) the Closing Date (collectively, the “Apportioned Obligations”).
Seller shall be responsible for the portion of such Apportioned Obligations attributable to the period ending on (and including)
the Closing Date. The Company (or the applicable Rosie Entity) shall be responsible for the portion of such Apportioned Obligations
attributable to the period beginning after the Closing Date. Each Party shall cooperate in assuring that Apportioned Obligations
that are the responsibility of Seller pursuant to the preceding sentences are paid by Seller, and that Apportioned Obligations
that are the responsibility of the Company (or the applicable Rosie Entity) pursuant to the preceding sentence shall be paid by
the Company (or the applicable Rosie Entity). If any refund, rebate or similar payment is received by the Company or the Rosie
Entities for any real property Taxes, personal property Taxes or similar obligations referred to above that are Apportioned Obligations,
such refund shall be apportioned between Seller and the Company (or the applicable Rosie Entity) as aforesaid on the basis of
the obligations of the Company and the Rosie Entities during the applicable Tax period. Any refund, rebate or similar payment
received by the Company or a Rosie Entity for any income Tax attributable to the pre-Closing Date period, as determined above,
shall be for the benefit of Seller; and any such refund, rebate or similar payment attributable to the post-Closing Date period,
as determined above, shall be for the benefit of the Company (or the applicable Rosie Entity).

 

(b)                For
any Taxes with respect to which the taxable period of the Company or the Rosie Entities (as applicable) ends on or before the
Closing Date, Seller shall, at its sole cost and expense, timely prepare and file with the appropriate authorities all Tax Returns
required to be filed by the Company and the Rosie Entities (as applicable), and pay or cause to be paid all Taxes shown to be
due thereon. After the Closing Date, the Company shall, at its sole cost and expense, timely prepare and file, or cause to be
timely prepared and filed, with the appropriate authorities all other Tax Returns required to be filed by the Company and the
Rosie Entities, as applicable, and pay all Taxes shown to be due thereon.

 

(c)                Seller
and Purchaser shall reasonably cooperate, and shall cause their respective Affiliates, employees and agents reasonably to cooperate,
in preparing and filing all Tax Returns of the Company and applicable Rosie Entities, including maintaining and making available
to each other all records that are necessary for the preparation of any Tax Returns that the Party is required to file under this
Section 5.02, and in resolving all Actions or Proceedings, and audits or examinations with respect to such Tax Returns.

 

5.03.         Seller
Parent Guaranty. Seller shall, concurrently with the execution and delivery of this Agreement, cause to be executed and
delivered to Purchaser the Seller Parent Guaranty.

 

5.04.         Purchaser
Parent Guaranty. Purchaser shall, concurrently with the execution and delivery of this Agreement, cause to be executed
and delivered to Seller the Purchaser Parent Guaranty.

 

Article
6

Indemnification

 

6.01.         Indemnification
by Seller. Seller hereby indemnifies and holds harmless the Purchaser Indemnified Parties in respect of, and holds each
of them harmless from and against, any and all Losses suffered, incurred or sustained by any of them or to which any of them become
subject, resulting from, arising out of or related to (a) any breach of any representation, warranty, covenant, agreement
or obligation made by Seller in this Agreement or any certificate delivered by Seller pursuant to this Agreement or (b)
the matters referenced on Schedule 6.01(b); provided, however, that the foregoing indemnity shall not apply
to Losses to the extent caused by the gross negligence or willful misconduct of Purchaser Indemnified Parties or their agents,
officers, employees or contractors.

 

 

 

6.02.     
Indemnification by Purchaser. Purchaser hereby indemnifies and holds harmless the Seller Indemnified Parties
in respect of, and holds each of them harmless from and against, any and all Losses suffered, incurred or sustained by any of them
or to which any of them become subject, resulting from, arising out of or relating to any breach by Purchaser of any representation,
warranty, covenant, agreement or obligation made by Purchaser in this Agreement or any certificate delivered by Purchaser pursuant
to this Agreement; provided, however, that the foregoing indemnity shall not apply to Losses to the extent caused
by the gross negligence or willful misconduct of Seller Indemnified Parties or their agents, officers, employees or contractors.

 

6.03.      Survival of Representations, Warranties, Covenants and Agreements. The representations, warranties, covenants,
agreements and obligations of Seller and Purchaser contained in this Agreement are material, were relied on by such Parties, and
will survive the Closing Date as provided in this Section 6.03. Subject to the limitations and other provisions of
this Agreement, the representations and warranties contained herein shall survive the Closing for twelve (12) months after the
Closing Date; provided that (i) the representations and warranties contained in Section 3.01(a) (Existence),
Section 3.01(b) (Authority), Section 3.01(g) (Brokers), Sections 3.01(i)(i), (ii), (vi) and (x) (Company
and Rosie Entities), Section 3.02(a) (Existence), Section 3.02(b) (Authority) and Section 3.02(h) (Brokers)
(the “Seller Fundamental Representations”) shall survive the Closing for five (5) years after the Closing Date
and (ii) the representations and warranties in Section 3.01(k) (Taxes) shall survive the Closing until thirty (30)
days after the expiration of the applicable Tax statute of limitations. The covenants, agreements and obligations in this Agreement
to be performed shall survive until the date on which they have been fully performed. No claim under this Agreement may be made
unless such Party shall have delivered, with respect to any claim under Section 6.01 or Section 6.02, a written notice
of claim prior to the applicable survival expiration date; provided that, if written notice for a claim of indemnification
has been provided by the Indemnified Party pursuant to Section 6.04(a) on or prior to the applicable survival expiration
date, then the obligation of the Indemnifying Party to indemnify the Indemnified Party pursuant to this Article 6 shall
survive with respect to such claim until such claim is finally resolved.

 

6.04.     
Limitations on Claims.

 

(a)        
An Indemnifying Party shall have no obligation to indemnify an Indemnified Party until the aggregate amount of all Losses
incurred that are subject to indemnification by such Indemnifying Party pursuant to this Article 6 equal or exceed [***]
of the Purchase Price (the “Deductible”) in which event the Indemnifying Party shall be liable for Losses only
to the extent they are in excess of the Deductible; provided that the Deductible shall not apply to Losses resulting from,
arising out of or relating to (i) any Fraudulent Action or (ii) the matters referenced on Schedule 6.01(b).

 

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(b)         The
aggregate liability of the Seller Indemnifying Parties and the Purchaser Indemnifying Parties under this Article 6
resulting from any claims under any breaches of representations or warranties herein and in any certificates delivered
pursuant hereto, shall be limited to an amount equal to [***] of the Purchase Price (the “Cap”); provided
that the Cap shall not apply to Losses resulting from, arising out of or relating to (i) any Fraudulent Action or (ii) a
breach of the Seller Fundamental Representations; provided, further, that the aggregate liability of the Seller
Indemnifying Parties resulting from the Seller Fundamental Representations plus any other Losses resulting from any
claims under breaches of representations or warranties herein and in any certificates delivered pursuant hereto shall be
limited to an amount equal to the Purchase Price. For the avoidance of doubt, the foregoing limitation will not apply to
Losses resulting from, arising out of or relating to (i) any breach of any covenant, agreement or obligation made
herein or any certificate delivered pursuant hereto or (ii) the matters referenced on Schedule 6.01(b).

 

(c)        
The amount of any claim pursuant to this Article 6 will be reduced by the amount of any insurance proceeds actually
recovered (less the cost to collect the proceeds of such insurance and the amount, if any, of any retroactive or other premium
adjustments reasonably attributable thereto) and the amount of any Tax benefit (which for this purpose means any reduction in cash
Taxes payable that would otherwise be due or the receipt of a refund of Taxes by the Indemnified Parties (or, in the case of an
Indemnified Party that is either a disregarded entity, partnership or other pass-through entity for U.S. federal income tax purposes,
the ultimate taxpayer(s) with respect to such entity), in each case only with respect to the taxable year in which the Loss was
incurred or paid) to the Indemnified Party in respect of such claim or the facts or events giving rise to such indemnity obligation.
If the Indemnified Party realizes such Tax benefit after the date on which an indemnity payment has been made to the Indemnified
Party, the Indemnified Party shall promptly make payment to the Indemnifying Party in an amount equal to such Tax benefit; provided
that such payment shall not exceed the amount of the indemnity payment.

 

6.05.     
Procedure for Indemnification of Third Party Claims.

 

(a)       
Notice. Whenever any claim by a third party shall arise for indemnification under this Article 6, the Indemnified
Party shall promptly notify the Indemnifying Party of the claim and, when known, the facts constituting the basis for such claim
and, if known, the notice shall specify the amount or an estimate of the amount of the liability arising therefrom. The Indemnified
Party shall provide to the Indemnifying Party copies of all material notices and documents (including court papers) received or
transmitted by the Indemnified Party relating to such claim. The failure or delay of the Indemnified Party to deliver prompt written
notice of a claim shall not affect the indemnity obligations of the Indemnifying Party hereunder, except to the extent the Indemnifying
Party was actually disadvantaged by such failure or delay in delivery of notice of such claim.

 

(b)       
Settlement of Losses. If the Indemnified Party has assumed the defense of any claim by a third party which may give
rise to indemnity hereunder pursuant to Section 6.06(c), the Indemnified Party shall not settle, consent to the entry of
a judgment of or compromise such claim without the prior written consent (which consent shall not be unreasonably withheld or delayed)
of the Indemnifying Party.

 

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6.06.     
Rights of the Indemnifying Party in the Defense of Third Party Claims.

 

(a)         Right to Assume the Defense. In connection with any claim by a third party which may give rise to indemnity hereunder,
the Indemnifying Party shall have thirty (30) days after the date the Indemnifying Party is notified of such claim by the
Indemnified Party to assume the defense of any such claim, which defense shall be prosecuted by the Indemnifying Party to a final
conclusion or settlement in accordance with the terms hereof.

 

(b)         Procedure. If the Indemnifying Party assumes the defense of any such claim, the Indemnifying Party shall (i) select
counsel reasonably acceptable to the Indemnified Party to conduct the defense of such claim and (ii) take all steps
necessary in the defense or settlement thereof, at its sole cost and expense. The Indemnified Party shall be entitled to participate
in (but not control) the defense of any such claim, with its own counsel and at its sole cost and expense; provided that,
if the claim includes allegations for which the Indemnifying Party both would and would not be obligated to indemnify the Indemnified
Party, the Indemnifying Party and the Indemnified Party shall in that case jointly assume the defense thereof. The Indemnified
Party and the Indemnifying Party shall fully cooperate with each other and their respective counsel in the defense or settlement
of such claim. The Party in charge of the defense shall keep the other Party appraised at all times as to the status of the defense
or any settlement negotiations with respect thereto.

 

(c)        
Settlement of Losses. The Indemnifying Party shall not consent to a settlement of or the entry of any judgment arising
from, any such claim or legal proceeding, without the prior written consent of the Indemnified Party (which consent shall not be
unreasonably withheld or delayed).

 

(d)       
Decline to Assume the Defense. The Indemnified Party may defend against any such claim, at the sole cost and expense
of the Indemnifying Party, in such manner as it may deem reasonably appropriate, including settling such claim in accordance with
the terms hereof if (i) the Indemnifying Party does not assume the defense of any such claim resulting therefrom within
thirty (30) days after the date the Indemnifying Party is notified of such claim by the Indemnified Party or (ii) the
Indemnified Party reasonably concludes that the Indemnifying Party is (A) not diligently defending the Indemnified Party,
(B) not contesting such claim in good faith through appropriate proceedings or (C) has not taken such action (including
the posting of a bond, deposit or other security) as may be necessary to prevent any action to foreclose a Lien against or attachment
of any asset or property of the Indemnified Party for payment of such claim; provided that in the case of this clause (ii),
the Indemnified Party will provide written notice to the Indemnifying Party of Indemnified Party’s conclusion, and Indemnifying
Party shall have failed to take the applicable actions within thirty (30) days of such written notice.

 

6.07.     
Direct Claims. In the event that any Indemnified Party has a claim against any Indemnifying Party which may give
rise to indemnity hereunder that does not involve a claim brought by a third party, the Indemnified Party shall promptly notify
the Indemnifying Party of the claim and the facts constituting the basis for such claim and, if known, the amount or an estimate
of the amount of the liability arising therefrom. If the Indemnifying Party does not notify the Indemnified Party within thirty
(30) days from receipt of such claim notice that the Indemnifying Party disputes such claim, the amount of such claim shall be
conclusively deemed a liability of the Indemnifying Party hereunder; provided, however, if the Indemnifying Party
does notify the Indemnified Party that it disputes such claim within the required thirty (30) day period, the Parties shall attempt
in good faith to agree upon the rights of the respective Parties with respect to such claim. If the Parties should so agree, a
memorandum setting forth such agreement shall be prepared and signed by both Parties. If such Parties shall not agree, the Indemnified
Party shall be entitled to take any action in law or in equity as such Indemnified Party shall deem necessary to enforce the provisions
of this Article 6 against the Indemnifying Party.

 

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6.08.     
Exclusive Remedy. Absent any Fraudulent Action, the indemnities set forth in this Article 6 shall be the
exclusive remedies of Purchaser and Seller and their respective members, officers, directors, employees, agents and Affiliates
due to misrepresentation, breach of warranty, nonfulfillment or failure to perform any covenant or agreement contained in this
Agreement, and the Parties shall not be entitled to a rescission of this Agreement or to any further indemnification rights or
claims of any nature whatsoever in respect thereof, all of which the Parties hereto hereby waive.

 

6.09.     
Mitigations.

 

(a)        
Each of the Parties agrees to take all commercially reasonable steps to mitigate their respective Losses upon and after becoming
aware of any event or condition which would reasonably be expected to give rise to any Losses that are indemnifiable hereunder.

 

(b)        
Upon making any payment to the Indemnified Party for any indemnification claim pursuant to this Article 6, the Indemnifying
Party shall be subrogated, to the extent of such payment, to any rights which the Indemnified Party may have against any third
parties with respect to the subject matter underlying such indemnification claim and the Indemnified Party shall assign any such
rights to the Indemnifying Party.

 

6.10.     
Indemnity Treatment. Any amount of indemnification payable pursuant to the provisions of this Article 6
shall, to the extent permitted by law, be treated as an adjustment to the Purchase Price (as determined for all relevant Tax purposes).

 

Article
7

GENERAL PROVISIONS

 

7.01.     
Notices. All notices, requests and other communications hereunder must be in writing and will be deemed to have
been duly given only if delivered personally, by email, by reputable national overnight courier service or by registered or certified
mail (postage prepaid) to the Parties at the following addresses or email addresses, as applicable: 

 

	If to Purchaser, to:	Rosamond Solar Investment LLC
	 	c/o Clearway Energy, Inc.
	 	300 Carnegie Center Drive, Suite 300
	 	Princeton, NJ 08540
	 	Attn: Christopher Sotos and Kevin Malcarney
	 	Email: christopher.sotos@clearwayenergy.com and
    kevin.malcarney@clearwayenergy.com
	 	 
	With a copy to:	Perkins Coie LLP
	 	700 13th St. NW
	 	Washington, DC 20005
	 	Attn: Eric Dodson Greenberg
	 	Email: egreenberg@perkinscoie.com
	 	 

     

    33

     

    

 

    	If to Seller, to:	c/o Clearway Renew LLC
	 	4900 N Scottsdale Road, Suite 5000
	 	Scottsdale, AZ 85251
	 	Attention: Chief Operating Officer
	 	E-mail: am@clearwayenergy.com
	 	 
	With a copy to:	Clearway Renew LLC
	 	5780 Fleet St., Suite 130
	 	Carlsbad, CA 92008
	 	Attention: General Counsel
	 	E-mail: legal@clearwayenergy.com

 

Notices, requests and
other communications will be deemed given upon the first to occur of such item having been (a) delivered personally
(or refusal of delivery) to the address provided in this Section 7.01, (b) delivered by confirmed email
transmission to the email address provided in this Section 7.01 or (c) delivered (or refusal of such delivery)
by registered or certified mail (postage prepaid) or by reputable national overnight courier service in the manner described above
to the address provided in this Section 7.01 (in each case regardless of whether such notice, request or other communication
is received by any other Person to whom a copy of such notice, request or other communication is to be delivered pursuant to this
Section 7.01). Any Party from time to time may change its address, email address or other information for the purpose
of notices to that Party by giving notice specifying such change to the other Party.

 

7.02.      Entire Agreement. This Agreement and the documents referenced herein supersede all prior discussions and agreements,
whether oral or written, between the Parties with respect to the subject matter hereof, and contains the entire agreement between
the Parties with respect to the subject matter hereof.

 

7.03.     
Specific Performance. The Parties to this Agreement agree that if any of the provisions of this Agreement were
not performed in accordance with their specific terms or were otherwise breached, irreparable damage would occur and money damages
may not be a sufficient remedy. In addition to any other remedy at law or in equity, each of Purchaser and Seller shall be entitled
to specific performance by the other Party of its obligations under this Agreement and immediate injunctive relief, without the
necessity of proving the inadequacy of money damages as a remedy.

 

7.04.     
Time of the Essence. Time is of the essence with regard to all duties and time periods set forth in this Agreement.

 

7.05.      Expenses. Except as otherwise expressly provided in this Agreement, whether or not the transactions contemplated
hereby are consummated, each Party will pay its own costs and expenses incurred in connection with the negotiation, execution and
performance of this Agreement.

 

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7.06.     
Confidentiality; Disclosures. This Agreement is confidential, and neither Party shall disclose the terms and
conditions of this Agreement to any other Person (other than such Party’s Affiliates and its and their respective officers,
directors, employees, representatives, agents and advisors) or issue, or permit any of its Affiliates to issue, any press release
or otherwise make any public statements or announcements regarding this Agreement or the transactions contemplated by this Agreement
without the prior written consent (which consent will not be unreasonably withheld, conditioned or delayed) of the other Party,
except as otherwise determined to be necessary or appropriate to comply with applicable Law or any rules or regulations of any
supervisory authority, regulatory authority or other Governmental Authority having jurisdiction over it or any of its Affiliates
(including the Securities and Exchange Commission and the New York Stock Exchange), in which case, the Party required to make such
disclosure or issue such press release or public announcement shall use reasonable efforts to provide the other Party a reasonable
opportunity to comment on such disclosure, press release or public announcement in advance thereof. Notwithstanding the foregoing,
nothing contained in this Agreement shall limit either Party’s (or either Party’s respective Affiliates’) rights
to disclose the existence of this Agreement and the general nature of the transactions described herein on any earnings call or
in similar discussions with financial media or analysts, stockholders and other members of the investment community.

 

7.07.     
Waiver. Any term or condition of this Agreement may be waived at any time by the Party that is entitled to the
benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of
the Party waiving such term or condition and delivered pursuant to Section 7.01. No waiver by any Party of any term
or condition of this Agreement, in any one or more instances, shall be deemed to be or construed as a waiver of the same or any
other term or condition of this Agreement on any future occasion. All remedies, either under this Agreement or by Law or otherwise
afforded, will be cumulative and not alternative.

 

7.08.     
Amendment. This Agreement may be amended, supplemented or modified only by a written instrument duly executed
by or on behalf of each Party.

 

7.09.      No Third Party Beneficiary. The terms and provisions of this Agreement are intended solely for the benefit of
each Party and their respective successors or permitted assigns, and it is not the intention of the Parties to confer third party
beneficiary rights upon any other Person other than any Person entitled to indemnity under Article 6.

 

7.10.     
Assignment. The obligations of the Parties under this Agreement are not assignable without the prior written
consent of the other Party, which such Party may withhold in its discretion; provided that Purchaser may assign this Agreement,
including the right to acquire the Acquired Interests, without the prior written consent of Seller, to (a) any Affiliate of Purchaser,
or (b) any financial institution providing purchase money or other financing to Purchaser from time to time as collateral security
for such financing, in each case so long as Purchaser remains fully liable for its obligations under this Agreement.

 

7.11.      Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under any present
or future Law, and if the rights or obligations of any Party under this Agreement shall not be materially and adversely affected
thereby, (a) such provision shall be fully severable, (b) this Agreement shall be construed and enforced
as if such illegal, invalid or unenforceable provision had never comprised a part hereof and (c) the remaining provisions
of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision
or by its severance here from.

 

    35

     

    

 

7.12.      Governing Law. This Agreement and all disputes and controversies arising
hereunder shall be governed by and construed in all respects in accordance with the laws of the State of New York without giving
effect to the conflicts of laws principles thereof except for Sections 5-1401 and 5-1402 of the New York General Obligations
Law.

 

7.13.     
Consent to Jurisdiction.

 

(a)        
For all purposes of this Agreement, and for all purposes of any Action or Proceeding arising out of or relating to the transactions
contemplated hereby or for recognition or enforcement of any judgment, each Party hereto submits to the personal jurisdiction of
the courts of the State of New York and the federal courts of the United States sitting in New York County, and hereby irrevocably
and unconditionally agrees that any such Action or Proceeding may be heard and determined in such New York court or, to the extent
permitted by law, in such federal court. Each Party hereto agrees that a final judgment in any such Action or Proceeding may be
enforced in any other jurisdiction by suit on the judgment or in any other manner provided by Law. Nothing in this Agreement shall
affect any right that any Party may otherwise have to bring any Action or Proceeding relating to this Agreement against the other
Party or its properties in the courts of any jurisdiction.

 

(b)        
Each Party hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so:

 

(i)     
any objection which it may now or hereafter have to the laying of venue of any Action or Proceeding arising out of or
relating to this Agreement or any related matter in any New York state or federal court located in New York County,
and

 

(ii)     
the defense of an inconvenient forum to the maintenance of such Action or Proceeding in any such court.

 

(c)        
Each Party hereto irrevocably consents to service of process by registered mail, return receipt requested, as provided in Section 7.01.
Nothing in this Agreement will affect the right of any Party hereto to serve process in any other manner permitted by Law.

 

7.14.      Waiver of Jury Trial. To the fullest extent permitted by Law, each Party
hereby waives all rights to a trial by jury in any legal action to enforce or interpret the provisions of this Agreement or that
otherwise relates to this Agreement.

 

    36

     

    

 

7.15.      Limitation on Certain Damages. Notwithstanding anything in this Agreement
to the contrary, no Party shall be liable to any other Party for any consequential, special, indirect, speculative, exemplary,
or punitive damages (collectively, “Consequential Damages”) for any reason with respect to any matter arising
out of or relating to this Agreement, whether based on statute, contract, tort or otherwise and whether or not arising from the
other Party’s sole, joint or concurrent negligence, strict liability or other fault; provided, however, that
any losses arising out of third party claims for which a Party is entitled to indemnification under this agreement shall not constitute
Consequential Damages. For the avoidance of doubt, an Action for the payment of the Purchase Price shall not be considered Consequential
Damages.

 

7.16.      Disclosures. Seller or Purchaser may, at its option, include in the Disclosure Schedules items that are not material
in order to avoid any misunderstanding, and any such inclusion, or any references to dollar amounts, shall not be deemed to be
an acknowledgment or representation that such items are material, to establish any standard of materiality or to define further
the meaning of such terms for purposes of this Agreement. In no event shall the inclusion of any matter in the Disclosure Schedules
be deemed or interpreted to broaden Seller’s or Purchaser’s representations, warranties, covenants or agreements contained
in this Agreement. Neither the specification of any dollar amount in any representation nor the mere inclusion of any item in a
schedule or in the Disclosure Schedules as an exception to a representation or warranty shall be deemed an admission by a Party
that such item represents a material fact, event or circumstance or that such item is reasonably likely to result in a Material
Adverse Effect on, the Company, the Rosie Entities or Purchaser.

 

7.17.      PDF
Signature; Counterparts. This Agreement may be executed by PDF signature in any number of counterparts, each of
which will be deemed an original, but all of which together will constitute one and the same instrument.

 

[Signature
Page Follows]

 

    37

     

    

 

IN WITNESS WHEREOF,
the Parties have caused this Membership Interest Purchase Agreement to be executed and delivered by their duly authorized officers
as of the date first above written.

 

	 	Seller:
	 	 
	 	RENEW DEVELOPMENT
    HOLDCO LLC,
	 	a Delaware
    limited liability company
	 	 
	 	 
	 	By:	/s/ Craig
    Cornelius
	 	 	Name:
    Craig Cornelius
	 	 	Title:
    President

 

[Signature Page – Rosamond
Central MIPA]

 

     

     

    

 

	 	 
	 	Purchaser:
	 	 
	 	ROSAMOND
SOLAR INVESTMENT LLC,
	 	a Delaware limited liability company
	 	 
	 	 
	 	By:/	s/ Christopher S. Sotos
	 	 	Name: Christopher S. Sotos
	 	 	Title: President

 

[Signature Page – Rosamond
Central MIPA]

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