Document:

Exhibit 10.8

 

Material
Terms of Agreements

 

Summary of
Deed of Assignment pursuant to a Public-Private Partnership (PPP)

 

	 	BIOCRUDE TECHNOLOGIES, INC.  	 
	 
	GOVERNMENT OF THE AUTONOMOUS ISLAND OF GRANDE COMORE (MORONI) 

	CONTRACT SUMMARY
	CONFIDENTIAL

	Agreement Reference:	BIOCRUDE/MCMUC/AUTONOMOUS ISLAND OF GRANDE COMORE/MSW-LC/CA/2016/1	Transaction Code:	BCT/MCMUC/MORONI/AUTONOMOUS ISLAND OF GRANDE COMORE/1

	Title of Agreement(s):	DEED OF ASSIGNMENT PURSUANT TO A PUBLIC-PRIVATE PARTNERSHIP (PPP)
	Parties:	
        MINISTÈRE DE LA PRODUCTION, DE L'ENVIRONNEMENT, DE
        L'ÉNERGIE, DE L'INDUSTRIE ET DE L'ARTISANAT DE L’UNION DES COMORES;

        MINISTÈRE DES FINANCES, DE L’ÉCONOMIE,
        DU BUDGET DE L’INVESTISSEMENT ET DU COMMERCE EXTÉRIEUR CHARGÉ DES PRIVATISATIONS DE L’UNION DES COMORES;
        

        (All referred to as “Government”)

        &

        BIOCRUDE TECHNOLOGIES, INC. (referred to as “BioCrude”)

	Date:	January 11, 2016	Documentation Signed:	Yes

	Changes/Amendments:	December 10, 2016
	Contract Object:	This Deed of Assignment embodies the engagement of the Assignor (Government) to authorize the Assignee (BioCrude) to Conceive, Design, Finance, Construct, Maintain and Exploit Municipal Solid Waste to Energy Complexes in the municipalities within the Autonomous Island of Grande Comore, Union of the Comoros to treat MSW, procure renewable energy and other inter-related marketable by-products (organic fertilizer, fly ash, primary materials for construction materials).
	Principal Obligations and Undertakings:	
        BioCrude:
        to Develop MSW to Energy Complex (MSW-Energy)
        in Moroni, Autonomous Island of Grande Comore via BOOT.

        Government: to fully engage and execute the minimum
        guaranteed MSW (“Put or Pay”); Land and Treated Sewage Effluent Agreements, and the Power Purchase Agreement (PPA)
        with BioCrude (Exclusive); Grant the necessary Permits & Clearances; allow BioCrude to operate; Provide Sovereign Guarantees
        for the Execution of all Agreement Obligations and define BioCrude’s fiscal taxation policy (exempt from corporate income
        taxes for duration of contract, as well as all import duties, taxes, levies for all materials, equipment and rolling stock required
        for the development of the MSW to Energy complex)

 

     

     

    

 

	Term/Duration:	30 Years	Renewal option:	30 Years

	Termination Events, Procedures and Indemnities:	Yes; Party Default & Force Majeure; Procedures outlined in Agreements

	Change of Control Clause:	Yes; to the Discretion of BioCrude Technologies, Inc.	Assignment Restrictions:	None
	Governing Law:	Ontario, Canada	Dispute Resolution Jurisdiction:	Ontario, Canada

	Force majeure:	Yes; standard and satisfactory to both parties.
	Change of law:	Not applicable; prescribed contract (Grandfathered). Law at signature prevails for duration of term and renewal option.
	Guarantees:	Sovereign Guarantees provided by Government of Autonomous Island of Grande Comore for FULL EXECUTION of their obligations in Contracts.
	Limitation on Liability:	Yes; only due to Force majeure.
	Exclusion of Liability:	None
	Liquidated Damages:	Yes; upon breach of execution of obligations from either party. If Government is in breach, and relates to termination of contract, Government is liable to pay 250% of the accrued Capital Cost of the MSW-Energy project (as reflected in Concession and Power Purchase Agreements). 
	Penalties for Non-Performance:	None
	Termination:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).
	Intellectual Property Rights:	BioCrude Technologies, Inc. (FULL); No intellectual property transfer
	Health, Safety & Environmental Issues:	Obligation to bring installations into compliance at start-up, and sustain throughout operation. 

	Performance Bond:	None	Additional Insurance:	 

	Company Point of Contact:	Mr. John Moukas	Program Management:	 

	Other Contract Issues:	None
	Associated Contracts:	Municipal Solid Waste Concession Agreement, Land Lease Agreement & Supply of Treated Sewage / Effluent Agreement(s) and Power Purchase Agreement (PPA)

 

     

     

    

 

Summary of
Municipal Solid Waste Concession Agreement, Land Lease Agreement & Supply of Treated Sewage / Effluent Agreement

 

	 	BIOCRUDE
TECHNOLOGIES, INC.  	 
	 
	GOVERNMENT OF THE AUTONOMOUS ISLAND OF GRANDE COMORE (MORONI)

	CONTRACT SUMMARY
	CONFIDENTIAL

	Agreement Reference:	BIOCRUDE/MCMUC/ GRANDE COMORE/MSW-LC/CA/2016/1	Transaction Code:	BCT/MCMUC/MORONI/ GRANDE COMORE/1

	Title of Agreement(s):	MUNICIPAL SOLID WASTE CONCESSION AGREEMENT, LAND LEASE AGREEMENT & SUPPLY OF TREATED SEWAGE / EFFLUENT AGREEMENT
	Parties:	
        MINISTÈRE DE LA PRODUCTION, DE L'ENVIRONNEMENT, DE
        L'ÉNERGIE, DE L'INDUSTRIE ET DE L'ARTISANAT DE L’UNION DES COMORES;

        MINISTÈRE DES FINANCES, DE L’ÉCONOMIE,
        DU BUDGET DE L’INVESTISSEMENT ET DU COMMERCE EXTÉRIEUR CHARGÉ DES PRIVATISATIONS DE L’UNION DES COMORES;
        

        LA VILLE DE MORONI;

        (All referred to as “Government”)

        &

        BIOCRUDE TECHNOLOGIES, INC. (referred to as “BioCrude”)

	Date:	January 11, 2016	Documentation Signed:	Yes

	Changes/Amendments:	December 10, 2016
	Contract
    Object:	Develop, Construct, Operate, Maintain &
    Exploit an MSW to Energy Complex (MSW-Energy) in Moroni, Autonomous Island of Grande Comore via BOOT
	Principal
    Obligations and Undertakings:	BioCrude:
        to Develop MSW to
        Energy Complex (MSW-Energy) in Moroni, Autonomous Island of Grande Comore via BOOT.

        Government:
        to supply minimum guaranteed MSW of 700 TPD (“Put or Pay”); Land, Treated Sewage Effluent; Grant the necessary
        Permits & Clearances; allow BioCrude to operate; Provide Sovereign Guarantees for the Execution of all Agreement Obligations,
        as well as RLC (as defined in Payment Terms below) to cover immediate payment default of Government.

	Term/Duration:	30 Years	Renewal option:	30 Years

	Termination Events, Procedures and Indemnities:	Yes; Party Default & Force Majeure; Procedures outlined in Agreements

	Change of Control Clause:	Yes; to the Discretion of BioCrude Technologies, Inc.	Assignment Restrictions:	None
	Governing Law:	Ontario, Canada	Dispute Resolution Jurisdiction:	Ontario, Canada

 

     

     

    

 

	Force majeure:	Yes; standard and satisfactory to both parties.
	Change of law:	Not applicable; prescribed contract (Grandfathered). Law at signature prevails for duration of term and renewal option.

	Land Lease:	Area of land:	12 Hectares	Lease Payment:	$1 US per 12 Hectares per year for the duration of term and option (no escalations), with compliant zoning and bldg. by-laws.
	Supply of Treated Effluent by Government STP:	Off-Take:	Up to 10,000,000 Litres/Day	Resource Payment by BioCrude:	0.0000001 USD per kilolitre (kL)

	Minimum Amount of Delivered MSW (Guaranteed; Put or Pay):	700 TPD; Refer to Schedule 1.	Tipping Fee:	Refer to Schedule 1.

	Payment Terms:	Upon presentation of Invoice and offset from Revolving Letter of Credit (RLC) in the event of default; amount of escrowed RLC is for 12 months (times 1.5) of future payment, replenished quarterly.
	Guarantees:	Sovereign Guarantees provided by Government of Autonomous Island of Grande Comore for FULL EXECUTION of their obligations in Contracts.
	Limitation on Liability:	Yes; only due to Force majeure.
	Exclusion of Liability:	None
	Liquidated Damages:	Yes; upon breach of execution of obligations from either party. If Government is in breach, and relates to termination of contract, Government is liable to pay 250% of the accrued Capital Cost of the MSW-Energy project (as reflected in Concession and Power Purchase Agreements). 
	Penalties for Non-Performance:	None
	Termination:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).
	Intellectual Property Rights:	BioCrude Technologies, Inc. (FULL); No intellectual property transfer
	Health, Safety & Environmental Issues:	Obligation to bring installations into compliance at start-up, and sustain throughout operation. 

	Performance Bond:	None	Additional Insurance:	 

	Company Point of Contact:	Mr. John Moukas	Program Management:	 

	Other Contract Issues:	None
	Associated Contracts:	Power Purchase Agreement (PPA) & Deed of Assignment pursuant to a Public-Private Partnership (PPP)

 

     

     

    

 

Summary of
Power Purchase Agreement (PPA)

 

	 	BIOCRUDE TECHNOLOGIES, INC.  	 
	 
	GOVERNMENT OF THE AUTONOMOUS ISLAND OF GRANDE COMORE (MORONI)

	CONTRACT SUMMARY
	CONFIDENTIAL

	Agreement Reference:	BIOCRUDE/MCMUC/AUTONOMOUS ISLAND OF GRANDE COMORE/MSW-LC/CA/2016/1	Transaction Code:	BCT/MCMUC/MORONI/AUTONOMOUS ISLAND OF GRANDE COMORE/1

	Title of Agreement(s):	POWER PURCHASE AGREEMENT (PPA)
	Parties:	
        LE GESTION DE L'EAU ET DE L'ÉLECTRICITÉ AUX
        COMORES (MA-MWE);

        (referred to as “Procurer”)

        BIOCRUDE TECHNOLOGIES, INC.; (referred to as “Vendor”)

        &

        MINISTÈRE DE LA PRODUCTION, DE L'ENVIRONNEMENT, DE
        L'ÉNERGIE, DE L'INDUSTRIE ET DE L'ARTISANAT DE L’UNION DES COMORES;

        MINISTÈRE DES FINANCES, DE L’ÉCONOMIE,
        DU BUDGET DE L’INVESTISSEMENT ET DU COMMERCE EXTÉRIEUR CHARGÉ DES PRIVATISATIONS DE L’UNION DES COMORES;
                          (All referred to as “Intervenants”)

	Date:	January 11, 2016	Documentation Signed:	Yes

	Changes/Amendments:	December 10, 2016
	Contract Object:	Resale of Procured Electricity (All procured
    electricity, less what is required for the self-consumption needs of the MSW-Energy facility) under “Take or Pay”
    principle.
	Principal Obligations and Undertakings:	BioCrude: to procure
        electricity from its developed MSW-Energy Project, using MSW as feedstock.

        Government:
        to buy all available electricity (net of project self-consumption needs) from BioCrude.
        Provide Sovereign Guarantees & Revolving Letter of Credit
        (1 year’s Revenues times 1.5) for the Execution of all Agreement Obligations. 

	Term/Duration:	30 Years	Renewal option:	30 Years

	Termination Events, Procedures and Indemnities:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).

	Change of Control Clause:	Yes; to the Discretion of BioCrude Technologies, Inc.	Assignment Restrictions:	None
	Governing Law:	Ontario, Canada	Dispute Resolution Jurisdiction:	Ontario, Canada

	Electricity Act:	The Autonomous Island of Grande Comore Law n°________

 

     

     

    

 

	Force majeure:	Yes; standard and satisfactory to both parties.
	Change of law:	Not applicable; prescribed contract (Grandfathered). Law at signature prevails for duration of term and renewal option.
	Resale of Electricity rates:	Refer to Schedule 1.
	Payment Terms:	Upon presentation of Invoice and offset from Revolving Letter of Credit (RLC) in the event of default; amount of escrowed RLC is for 12 months (times 1.5) of future payment, replenished quarterly.
	Guarantees:	Sovereign Guarantees provided by Government of Autonomous Island of Grande Comore for FULL EXECUTION of their obligations in Contracts.
	Limitation on Liability:	Yes; only due to Force majeure.
	Exclusion of Liability:	None
	Liquidated Damages:	Yes; upon breach of execution of obligations from either party. If Government is in breach, and relates to termination of contract, Government is liable to pay 250% of the accrued Capital Cost of the MSW-Energy project (as reflected in Concession and Power Purchase Agreements). 
	Penalties for Non-Performance:	None
	Termination:	At end of term or option (to the discretion of BioCrude Technologies, Inc.), or if there is a breach from either party with no remedy related thereto (with penalty associations).
	Intellectual Property Rights:	BioCrude Technologies, Inc. (FULL); No intellectual property transfer
	Health, Safety & Environmental Issues:	Obligation to bring installations into compliance at start-up, and sustain throughout operation. 
	Regulations regarding Electricity Act of Autonomous Island of Grande Comore:	Obligation to bring installations into compliance to the standards established by the Electricity Act of Autonomous Island of Grande Comore, at start-up, and sustain throughout operation.

	Performance Bond:	None	Additional Insurance:	 

	Company Point of Contact:	Mr. John Moukas	Program Management:	 

	Other Contract Issues:	None
	Associated Contracts:	Municipal Solid Waste Concession Agreement, Land Lease Agreement & Supply of Treated Sewage / Effluent Agreement(s) & Deed of Assignment pursuant to a Public-Private Partnership (PPP)EX-4.4

 Exhibit 4.4 

CenterPoint Energy Houston Electric, LLC 
 1111 Louisiana

 Houston, TX 77002 
  

 
  

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC 

TO 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, NATIONAL ASSOCIATION 
 (successor in trust to JPMORGAN CHASE BANK), 

as Trustee 
  

 
 TWENTY-SIXTH
SUPPLEMENTAL INDENTURE 
 Dated as of January 12, 2017 
  

 
 Supplementing
the General Mortgage Indenture 
 Dated as of October 10, 2002 

Filed under file number 030004510538 in the 

Office of the Secretary of State as an instrument 

granting a security interest by a public utility 

THIS INSTRUMENT GRANTS A SECURITY INTEREST BY A UTILITY 

THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS 

This instrument is being filed pursuant to Chapter 261 of the Texas Business and Commerce Code 

 
  

 

 TWENTY-SIXTH SUPPLEMENTAL INDENTURE, dated as of January 12, 2017, between CENTERPOINT ENERGY HOUSTON
ELECTRIC, LLC, a limited liability company organized and existing under the laws of the State of Texas (herein called the “Company”), having its principal office at 1111 Louisiana, Houston, Texas 77002, and THE BANK OF NEW YORK MELLON
TRUST COMPANY, NATIONAL ASSOCIATION (successor in trust to JPMORGAN CHASE BANK), a limited purpose national banking association duly organized and existing under the laws of the United States, as Trustee (herein called the “Trustee”), the
office of the Trustee at which on the date hereof its corporate trust business is administered being 601 Travis Street, 16th Floor, Houston, Texas 77002. 

RECITALS OF THE COMPANY 
 WHEREAS, the Company
has heretofore executed and delivered to the Trustee a General Mortgage Indenture dated as of October 10, 2002, as supplemented and amended (the “Indenture”), providing for the issuance by the Company from time to time of its bonds,
notes or other evidence of indebtedness to be issued in one or more series (in the Indenture and herein called the “Securities”) and to provide security for the payment of the principal of and premium, if any, and interest, if any, on the
Securities; and 
 WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved to it under the provisions of the Indenture
and pursuant to appropriate resolutions of the Manager, has duly determined to make, execute and deliver to the Trustee this Twenty-Sixth Supplemental Indenture to the Indenture as permitted by Sections 201, 301, 403(2) and 1401 of the Indenture in
order to establish the form or terms of, and to provide for the creation and issuance of, a twenty-seventh series of Securities under the Indenture in an initial aggregate principal amount of $300,000,000 (such twenty-seventh series being
hereinafter referred to as the “Twenty-Seventh Series”); and 
 WHEREAS, all things necessary to make the Securities of the Twenty-Seventh Series,
when executed by the Company and authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms and subject to the conditions hereinafter and in the Indenture set forth against payment therefor the valid, binding
and legal obligations of the Company and to make this Twenty-Sixth Supplemental Indenture a valid, binding and legal agreement of the Company, have been done; 

NOW, THEREFORE, THIS TWENTY-SIXTH SUPPLEMENTAL INDENTURE WITNESSETH that, in order to establish the terms of a series of Securities, and for and in
consideration of the premises and of the covenants contained in the Indenture and in this Twenty-Sixth Supplemental Indenture and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, it is mutually
covenanted and agreed as follows: 

 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 

Section 101. Definitions. Each capitalized term that is used herein and is defined in the Indenture shall have the meaning
specified in the Indenture unless such term is otherwise defined herein. 
 ARTICLE TWO 

TITLE, FORM AND TERMS OF THE BONDS 

Section 201. Title of the Bonds. This Twenty-Sixth Supplemental Indenture hereby creates a series of Securities designated as the
“3.00% General Mortgage Bonds, Series AA, due 2027” (the “Series AA Bonds”). For purposes of the Indenture, the Series AA Bonds shall constitute a single series of Securities and, subject to the provisions,
including, but not limited to Article Four of the Indenture, the Series AA Bonds shall be issued in an aggregate principal amount of $300,000,000. 

Section 202. Form and Terms of the Bonds. The form and terms of the Series AA Bonds will be set forth in an Officer’s
Certificate delivered by the Company to the Trustee pursuant to the authority granted by this Twenty-Sixth Supplemental Indenture in accordance with Sections 201 and 301 of the Indenture. 

Section 203. Treatment of Proceeds of Title Insurance Policy. Any moneys received by the Trustee as proceeds of any title
insurance policy on Mortgaged Property of the Company shall be subject to and treated in accordance with the provisions of Section 607(2) of the Indenture (other than the last paragraph thereof). 

ARTICLE THREE 

MISCELLANEOUS PROVISIONS 
 The Trustee
makes no undertaking or representations in respect of, and shall not be responsible in any manner whatsoever for and in respect of, the validity or sufficiency of this Twenty-Sixth Supplemental Indenture or the proper authorization or the due
execution hereof by the Company or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Company. 

In no event shall the Trustee be liable for any indirect, special, punitive or consequential loss or damage of any kind whatsoever, including, but not limited
to, lost profits, even if it has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 In no event shall the
Trustee be liable for any failure or delay in the performance of its obligations hereunder because of circumstances beyond its control, including, but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, strikes, work
stoppages, civil or military disturbances, nuclear or natural catastrophes, fire, riot, embargo, loss or malfunctions of utilities, communications or computer (software and hardware) services, 

  
 2 

 
government action, including any laws, ordinances, regulations, governmental action or the like which delay, restrict or prohibit the providing of the services contemplated by this Twenty-Sixth
Supplemental Indenture; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS TWENTY-SIXTH SUPPLEMENTAL INDENTURE, THE SERIES AA BONDS OR THE TRANSACTION CONTEMPLATED HEREBY. 
 Except as
expressly amended and supplemented hereby, the Indenture shall continue in full force and effect in accordance with the provisions thereof and the Indenture is in all respects hereby ratified and confirmed. This Twenty-Sixth Supplemental Indenture
and all of its provisions shall be deemed a part of the Indenture in the manner and to the extent herein and therein provided. 
 This Twenty-Sixth
Supplemental Indenture shall be governed by, and construed in accordance with, the law of the State of New York. 
 This Twenty-Sixth Supplemental Indenture
may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Twenty-Sixth Supplemental Indenture to be
duly executed as of the day and year set forth below and effective as of the day and year first above written. 
  

									
		 	CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
				
	Dated: January 12, 2017	 		 	By:	 	 
		 		 		 	Name:	 	Kristie L. Colvin
		 		 		 	Title:	 	Senior Vice President and Chief Accounting Officer
		
		 	THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION (successor in trust to JPMORGAN CHASE BANK), as Trustee
				
	Dated: January 12, 2017	 		 	By:	 	 
		 		 		 	Name:	 	
		 		 		 	Title:	 	

 ACKNOWLEDGMENT 
  

							
	 STATE OF TEXAS
	  	 	)	  	  	
		  	 	)	  	  	ss
	 COUNTY OF HARRIS
	  	 	)	  	  	

 On the 12th day of January, 2017, before me personally came Kristie L. Colvin, to me known, who, being by
me duly sworn, did depose and say that she resides in Katy, Texas; that she is the Senior Vice President and Chief Accounting Officer of CenterPoint Energy Houston Electric, LLC, a Texas limited liability company, the limited liability company
described in and which executed the foregoing instrument; and that she signed her name thereto by authority of the sole manager of said limited liability company. 

 

	
	 
	Notary Public

  
 4 

							
	State of Illinois	  	 	)	  	 	
		  	 	)	  	 	: ss
	 County of Cook
	  	 	)	  	 	

 On the          day of January in the year 2017, before me, the undersigned,
personally appeared,                     , a Vice President of The Bank of New York Mellon Trust Company, N.A., personally known to me or
proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual,
or the person upon behalf of which the individual acted, executed the instrument. 
  

	
	 
	Notary Public

 My commission expires
                    . 

  
 5

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