Document:

EX-10.11

 Exhibit 10.11 

EXECUTION VERSION 
 THIS INSTRUMENT
AND THE RIGHTS AND OBLIGATIONS EVIDENCED HEREBY ARE SUBORDINATE IN THE MANNER AND TO THE EXTENT SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT (THE “SUBORDINATION AGREEMENT”) DATED AS OF DECEMBER 27, 2012, AMONG APX GROUP, INC., VIVINT
SOLAR, INC., A DELAWARE CORPORATION (THE “COMPANY”) AND GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P. (“AGENT”), TO THE INDEBTEDNESS (INCLUDING INTEREST) OWED BY COMPANY PURSUANT TO THAT CERTAIN CREDIT AND GUARANTY AGREEMENT, DATED
AS OF JULY 13, 2012 (AS THE SAME HAS BEEN AND MAY BE FURTHER AMENDED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME), BY AND AMONG COMPANY, V SOLAR HOLDINGS, INC., A DELAWARE CORPORATION AND CERTAIN SUBSIDIARIES OF COMPANY, AS GUARANTORS, THE
LENDERS PARTY THERETO FROM TIME TO TIME AND THE AGENT, AS ADMINISTRATIVE AGENT, COLLATERAL AGENT, AND LEAD ARRANGER, AND TO INDEBTEDNESS REFINANCING THE INDEBTEDNESS UNDER THAT AGREEMENT AS CONTEMPLATED BY THE SUBORDINATION AGREEMENT; AND EACH
HOLDER OF OBLIGATIONS UNDER THIS INSTRUMENT, BY ITS ACCEPTANCE HEREOF, IRREVOCABLY AGREES TO BE BOUND BY THE PROVISIONS OF THE SUBORDINATION AGREEMENT. 

SUBORDINATED NOTE AND LOAN AGREEMENT 

December 27, 2012 
 FOR
VALUE RECEIVED, VIVINT SOLAR, INC., a Delaware corporation (“Borrower”) does hereby promise to pay to the order of APX GROUP, INC., a Delaware corporation (“Lender”; and together with Borrower, the
“Parties”, and each, a “Party”), in lawful money of the United States of America in immediately available funds at its offices located at 4931 N 300 W, Provo, Utah 84604, or at such other location as
Lender shall designate from time to time, the Principal Amount (as defined below), together with interest accruing on the Principal Amount from the date hereof, pursuant to the terms and conditions of this Subordinate Note and Loan Agreement (this
“Agreement”): 
 RECITALS 

WHEREAS, Borrower has requested and Lender has agreed to make certain extensions of credit and financial accommodations to Borrower pursuant
to the terms of this Agreement; 
 WHEREAS, Borrower entered into (i) that certain Guaranty, dated as of October 5, 2011 (as
amended, amended and restated, supplemented or otherwise modified from time to time), in favor of Firstar Development, LLC, a Delaware limited liability company (“Firstar”); and (ii) that certain Guaranty, dated as of
October 3, 2012 (as amended, amended and restated, supplemented or otherwise modified from time to time), in favor of Firstar, in each case pursuant to which Borrower made certain guarantees to Firstar in support of certain obligations of
subsidiaries of Borrower (collectively, the “Guaranteed Obligations”); 

  

					
		 		  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 WHEREAS, Borrower entered into that certain Credit and Guaranty Agreement, dated as of
July 13, 2012 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Borrower, V Solar Holdings, Inc., a Delaware corporation
(“Holdings”) and certain subsidiaries of Borrower, as guarantors (collectively with Borrower and Holdings, the “Credit Parties”), the financial institutions from time to time party thereto as lenders
(“Senior Lenders”) and Goldman Sachs Specialty Lending Group, L.P., as administrative agent, collateral agent, and lead arranger (in such capacity, “Administrative Agent”), pursuant to which the Senior
Lenders agreed to make certain loans and financial accommodations to Borrower (the “Senior Debt”); and 
 WHEREAS,
Firstar and the Senior Lenders have required and Lender has agreed to subordinate its rights and interests under this Agreement, including (without limitation) Lender’s right to receive payment from Borrower hereunder, to the prior payment and
discharge of the Guaranteed Obligations and the Senior Debt. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, and intending to be legally bound, the Parties hereto agree as follows: 
 1. Definitions. The following terms shall
have the following meanings in this Agreement: 
 “Discharge” shall mean the indefeasible payment in full in cash (in
immediately available funds) and the termination of any commitment to lend. 
 “Change of Control” shall mean, at
any time, any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act of 1934, as amended) other than 313 Acquisition LLC (a) shall have acquired beneficial ownership of 50% or more on a fully diluted
basis of the voting and/or economic interest in the capital stock of Holdings or (b) shall have obtained the power (whether or not exercised) to elect a majority of the members of the board of directors (or similar governing body) of Holdings.

 “Expiration Date” shall mean the first date upon which any of the following shall occur: (i) a Change of
Control, (ii) an Event of Default, or (iii) mutual agreement of the Parties in writing. 
 “Indebtedness”
means, without duplication, (i) indebtedness created, issued or incurred for borrowed money (whether by loan or the issuance and sale of debt securities or the sale of property to another person subject to an understanding or agreement,
contingent or otherwise, to repurchase such property), (ii) obligations to pay a deferred purchase or acquisition price for any property after six (6) months from the date of acquisition, (iii) any indebtedness of others secured by a
lien or other encumbrance on any property, (iv) obligations in respect of letters of credit or similar instruments issued or accepted by banks and other financial institutions, (v) obligations in respect of surety bonds or similar
instruments, (vi) obligations to pay rent or other amounts under a lease of (or other agreement conveying the right to use) any property to the extent such obligations are required to be classified and accounted for as a capital lease on a
balance sheet under GAAP applied on a consistent basis (including Statement of Financial Accounting Standards No. 13 of the Financial Accounting Standards Board), and (vii) guarantees of any indebtedness of others. 

  

					
		 	2	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 “Material Adverse Effect” means a material adverse effect, or any
development involving a prospective material adverse change in the condition (financial or otherwise), or in the earnings, business or results of operations, whether or not arising from transactions in the ordinary course of business, of either
(x) Holdings and its subsidiaries, taken as a whole (in the case of Borrower) or (y) Lender and its subsidiaries, taken as a whole (in the case of Lender). 

“Person” means any natural person, corporation, general or limited partnership, limited liability company, firm,
trust, association, government, governmental agency or other entity, whether acting in an individual, fiduciary or other capacity. 

“Principal Amount” means the amount of loans and advances to Borrower under this Agreement from time to
time outstanding in an aggregate principal amount not to exceed Twenty Million Dollars ($20,000,000.00), as such outstanding principal balance may be increased from time to time by accrued interest pursuant to Section 5. 

“Senior Obligations” shall mean the Senior Debt, the Guaranteed Obligations, and all other Indebtedness incurred by
Borrower from time to time after the date hereof other than the Subordinated Debt. 
 “Subordinated Debt” shall mean
any loans, advances, debts, liabilities, obligations, covenants and duties owing by Borrower to Lender of any kind or nature, present or future, whether direct or indirect, absolute or contingent, joint or several, due or to become due, now existing
or hereafter arising, whether consisting of principal, interest, expense payments, management and consulting fees, liquidation costs, attorneys’ fees and costs or otherwise, all to the extent arising or created pursuant to this Agreement. 

2. Advances. Borrower may request advances, repay and request additional advances hereunder until the Expiration Date, subject to the
terms and conditions of this Agreement. Borrower acknowledges and agrees that in no event shall Lender be under any obligation to extend or renew the loans described in this Agreement beyond the Expiration Date. The aggregate unpaid principal amount
of advances under this Agreement shall not exceed the face amount of this Agreement. 
 3. Advance Procedures. A request for advances
shall be made via e-mail pursuant to Section 12(b). Lender shall fund the requested advance as promptly as possible but in all events within (3) three business days after receipt of Borrower’s request for an advance. 

4. Rate of Interest. Interest shall accrue on the Principal Amount at a rate per annum equal to Seven and One-Half Percent
(7.5%) computed on the basis of a 365-day or 366-day year, as the case may be, and shall be payable semi-annually in arrears on June 1 and December 1 of each year, commencing June 1, 2013; provided, that Borrower shall not
make any cash interest payment unless and until the Credit Agreement and the Senior Debt shall have been Discharged. In no event will the rate of interest hereunder exceed the maximum rate allowed by law. 

  

					
		 	3	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 5. Payment Terms. On each interest payment date prior to the Expiration Date the
outstanding principal balance shall automatically increase by the amount of interest payable for such interest period (rounded up to the nearest $1,000.00), and interest shall thereafter accrue on such increased principal balance. The Principal
Amount together with any accrued and unpaid interest shall be due and payable on the Expiration Date; provided, that Borrower shall not make any payment of all or any part of the Principal Amount unless and until the Credit Agreement and the
Senior Debt shall have been Discharged. For the avoidance of doubt, in no event shall Borrower be obligated to make any payment of principal or cash payment of interest hereunder until the later to occur of (i) the Expiration Date and
(ii) the date on which the Credit Agreement and the Senior Debt shall have been Discharged. 
 6. Pre-Payment. Borrower may, at
any time, and without premium or penalty, prepay all or any part of the Principal Amount; provided, that Borrower shall not make any prepayment of all or any part of the Principal Amount unless and until the Credit Agreement and the Senior
Debt shall have been Discharged. 
 7. Waivers. Borrower and all parties becoming a party to this Agreement, or any endorser or
guarantor of this Agreement, expressly waive demand, presentment for payment, protest, and notice of dishonor and of protest. 
 8.
Representations and Warranties. 
 (a) Borrower. 

(i) Borrower has the full power, authority and legal right to execute and deliver, and to perform and observe the provisions of
this Agreement. This Agreement is, or will be when delivered, the legal, valid and binding obligation of Borrower enforceable against Borrower in accordance with its terms and conditions (except to the extent that enforcement may be limited by
bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights). 

(ii) The execution and delivery of this Agreement will not result in the breach or default under the terms, conditions or
provisions of: (i) Borrower’s organizational documents or (ii) any material agreement to which Borrower is a party or by which Borrower is bound. 

(iii) There is no action, litigation, proceeding or investigation pending or threatened against Borrower that would reasonably
be expected to have a Material Adverse Effect upon Borrower. 
 (b) Lender. 

(i) Lender has the full power, authority and legal right to execute and deliver, and to perform and observe the provisions of
this Agreement. This Agreement is, or will be when delivered, the legal, valid and binding obligation of Lender enforceable against Lender in accordance with its terms and conditions (except to the extent that enforcement may be limited by
bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights). 

  

					
		 	4	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 (ii) The execution and delivery of this Agreement will not result in the breach
or default under the terms, conditions or provisions of: (i) Lender’s organizational documents or (ii) any material agreement to which Lender is a party or by which Lender is bound. 

(iii) There is no action, litigation, proceeding or investigation pending or threatened against Lender that would reasonably be
expected to have a Material Adverse Effect upon Lender. 
 9. Defaults; Remedies. 

(a) Events of Default. The occurrence of any one or more of the following events shall constitute an “Event of Default”
under this Agreement: 
 (i) the failure by either Party to make any payment or advance when due that is not cured within
fifteen (15) business days after written notice thereof is given by the other Party; 
 (ii) the filing against any
Party of any proceeding in bankruptcy, receivership, insolvency, reorganization, liquidation, conservatorship or similar proceeding and such proceeding is not dismissed or stayed within sixty (60) days after commencement; 

(iii) any material representation or warranty made by either Party in this Agreement is false, erroneous or misleading in
any material respect; and 
 (iv) Either Party’s failure to observe or perform any covenant or other agreement set
forth in this Agreement (other than with respect to Section 9(a)(i) above) that is not cured within fifteen (15) business days after written notice thereof is given by the other Party. 

(b) Remedies. Upon the occurrence of an Event of Default by Borrower, (i) Lender shall be under no further obligation to make advances
hereunder; and (ii) the Principal Amount and accrued interest together with any additional amounts payable hereunder, at Lender’s option and without demand or notice of any kind, may be accelerated and become immediately due and payable;
provided, that Borrower shall not make any payment of all or any part of the Principal Amount unless and until the Credit Agreement and the Senior Debt shall have been Discharged. Upon the occurrence of an Event of Default by either Party,
the non-defaulting Party may exercise any of the rights and remedies available under this Agreement or under applicable law. 
 10.
Non-Waiver. No failure or delay by either Party to insist upon the strict performance of any right, power or remedy consequent upon a breach of or default under this Agreement shall constitute a waiver of performance or preclude the
modification, change, waiver, or amendment of this Agreement and no such modification, change, waiver or amendment of this Agreement shall be deemed to be made by either Party unless in writing signed by such Party, and each such modification,
change, waiver, or amendment, if any, shall apply only with respect to the specific instance involved. 

  

					
		 	5	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 11. Subordination. Borrower covenants and agrees, and Lender likewise covenants and
agrees, notwithstanding anything to the contrary contained herein, that the payment of any Subordinated Debt shall be subordinate and subject in right and time of payment to the prior occurrence of the Discharge of the Senior Obligations. Until the
Discharge of Senior Obligations, and notwithstanding anything to the contrary contained herein, Lender shall not, without the prior written consent of Administrative Agent and Firstar, agree to any amendment, modification or supplement to this
Agreement that would, in the reasonable judgment of the Parties, adversely affect the rights of holders of Senior Obligations. 
 From time
to time following the date hereof, at the reasonable request of Administrative Agent, Firstar, or any beneficiary of the Senior Obligations, Lender agrees that it shall enter into subordination agreements or other similar instruments as may be
reasonably requested in order to evidence more fully and effectively this Section 11. 
 12. Miscellaneous. 

(a) Third Party Beneficiaries. Each of Administrative Agent, the Senior Lenders, Firstar, and any other beneficiary of the Senior Obligations
shall be deemed express and intentional third party beneficiaries of this Agreement. 
 (b) Notices. All notices, requests, demands, and
other communications required or permitted to be given under this Agreement by any Party shall be in writing delivered to the applicable Parties at the following address: 
  

			
	 BORROWER:

	
	 VIVINT SOLAR, INC.

	 4931 N 300 W

	 Provo, UT 84604

	 Attention:
	  	Tanguy Serra
	 Telephone:
	  	801.234.6358
	 Email:
	  	tserra@vivintsolar.com
	
	 With a copy to:

		
	 Attention:
	  	Dan Black
	 Telephone:
	  	801.705.8093
	 Email:
	  	dblack@vivintsolar.com
	
	 LENDER:

	
	 APX GROUP, INC.

	 4931 N 300 W

	 Provo, UT 84604

	 Attention:
	  	Dale Gerard
	 Telephone:
	  	801.705.8011
	 Email:
	  	dgerard@vivint.com

  

					
		 	6	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

			
	 With a copy to:

		
	 Attention:
	  	Nathan Wilcox
	 Telephone:
	  	801.705.8054
	 Email:
	  	nwilcox@vivint.com

 or to such other address as any Party may designate from time to time by written notice to all other Parties. Each such
notice, request, demand, or other communication shall be deemed given and effective, as follows: (i) if sent by hand delivery, upon delivery; (ii) if sent by first-class U.S. Mail, postage prepaid, upon the earlier to occur of receipt or
three (3) days after deposit in the U.S. Mail; (iii) if sent by a recognized prepaid overnight courier service, one (1) day after the date it is given to such service; (iv) if sent by facsimile, upon receipt of confirmation of
successful transmission by the facsimile machine; and (v) if sent by email, upon acknowledgement of receipt by the recipient. 
 (c)
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, legal representatives, successors, and permitted assigns. Except as otherwise expressly provided in this Agreement, or by
operation of law, neither this Agreement nor any of the rights, interests, or obligations hereunder may be assigned by any Party without the prior written consent of the other Party; provided, that, either Party may assign, pledge or
hypothecate all of its right, title and interest under this Agreement without the consent of any other person, as collateral security to holders of its outstanding Indebtedness or an agent on their behalf. 

(d) Entire Agreement. This Agreement constitutes the entire agreement among the Parties and supersede all prior oral and written negotiations,
communications, discussions and correspondence pertaining to the subject matter hereof. 
 (e) Amendments and Waivers. This Agreement may
only be amended or modified by an instrument in writing signed by all of the Parties. 
 (f) Severability of Provisions. If any provision of
this Agreement is held to be invalid, prohibited, or otherwise unenforceable by a court of competent jurisdiction, this Agreement shall be considered divisible and such provision shall be deemed inoperative to the extent it is deemed invalid,
prohibited, or unenforceable, and in all other respects this Agreement shall remain in full force and effect; provided, however, that if any such provision may be made enforceable by limitation thereof, then such provision shall be
deemed to be so limited and shall be enforceable to the maximum extent permitted by applicable law. 
 (g) Usury. Nothing contained in this
Agreement shall be deemed to require the payment of interest or other charges by Borrower or any other person or entity in excess of the amount which may be lawfully charge under any applicable usury laws. In the event that Lender shall collect
monies which are deemed to constitute interest which would increase the effective interest rate to a rate in excess of that permitted to be charged by applicable law, all such sums deemed to constitute interest in excess of the legal rate shall,
upon such determination, be credited against the principal balance of the amounts then outstanding hereunder. 

  

					
		 	7	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 (h) Governing Law. THIS AGREEMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO THE
EXTENT NOT EXPRESSLY PROVIDED FOR THEREIN), SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK. 
 (i) Waiver of
Jury Trial. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A TRIAL BY JURY WITH RESPECT TO ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH PARTY HEREBY AGREES THAT ANY
SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION 12(i) AS TO ANY
ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT, OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS, OR
MODIFICATIONS TO THIS AGREEMENT. 
 (j) Limitation on Liability. NO CLAIM SHALL BE MADE BY ANY PARTY OR ANY OF ITS AFFILIATES, DIRECTORS,
EMPLOYEES, REPRESENTATIVES, ATTORNEYS OR AGENTS AGAINST ANY OTHER PARTY HERETO OR ANY OF ITS AFFILIATES, DIRECTORS, EMPLOYEES, REPRESENTATIVES, ATTORNEYS OR AGENTS FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES (WHETHER OR NOT THE
CLAIM THEREFOR IS BASED ON CONTRACT, TORT, DUTY IMPOSED BY LAW OR OTHERWISE), IN CONNECTION WITH, ARISING OUT OF OR IN ANY WAY RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY ACT OR OMISSION OR EVENT OCCURRING IN CONNECTION
THEREWITH; AND EACH PARTY HEREBY WAIVES, RELEASES, AND AGREES NOT TO SUE UPON ANY SUCH CLAIM FOR ANY SUCH SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR. 

(k) Further Assurances From time to time following the date hereof, at the request of any Party and without further consideration, the other
Party shall execute and deliver to such requesting Party such instruments and documents and take such other action (but without incurring any material financial obligation) as such requesting Party may reasonably request in order to consummate more
fully and effectively the transactions contemplated hereby. 

  

					
		 	8	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 (l) Counterparts. This Agreement and any amendment, waivers, consents or supplements hereto or in
connection herewith may be executed by one or more of the Parties on any number of separate counterparts, by facsimile or email, and all of said counterparts taken together shall be deemed to constitute one and the same instrument; signature pages
may be detached from multiple separate counterparts and attached to a single counterpart so that all signatures are physically attached to the same document. A facsimile or portable document format (“pdf”) signature page shall constitute
an original for purposes hereof. 
 [SIGNATURE PAGE FOLLOWS] 

  

					
		 	9	  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 IN WITNESS WHEREOF, the due execution and sealing hereof with the intent to be legally bound
hereby: 
  

			
	BORROWER:
	
	 VIVINT SOLAR, INC.,
 a Delaware
corporation

		
	By:	 	/s/ Tanguy Serrra
	Name:	 	Tanguy Serrra
	Title:	 	CEO, President

  

			
	LENDER:
	
	 APX GROUP, INC.,
 a Delaware
corporation

		
	By:	 	/s/ Nathan Wilcox
	Name:	 	Nathan Wilcox
	Title:	 	Secretary

 [SIGNATURE PAGE] 

  

					
		 		  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)EX-10.11A

 Exhibit 10.11A 

FIRST AMENDMENT 

TO 

SUBORDINATED NOTE AND LOAN AGREEMENT 

This FIRST AMENDMENT TO SUBORDINATED NOTE AND LOAN AGREEMENT is entered into and effective as of July 26, 2013 (this
“Amendment”), by and between VIVINT SOLAR, INC., a Delaware corporation (“Borrower”) and APX GROUP, INC., a Delaware corporation (“Lender”; and together with Borrower, the
“Parties”, and each, a “Party”). 
 RECITALS 

WHEREAS, Borrower and Lender entered into that certain Subordinated Note and Loan Agreement, dated as of December 27, 2012, in the
original principal amount of Twenty Million Dollars ($20,000,000.00) (the “Original Note”). Any capitalized term used by not defined herein shall have the meaning ascribed to such term in the Original Note. 

WHEREAS, Borrower and Lender each desire to amend the Original Note subject to the terms and conditions of this Amendment. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the Parties hereto agree as follows: 

1. Amendment. The definition of “Expiration Date” in Section 1 of the Original Note is hereby amended and restated in its
entirety to read as follows: 
 “Expiration Date” shall mean the first date upon which any of the following shall
occur: (i) a Change of Control, (ii) an Event of Default, or (iii) January 1, 2016. 
 2. Miscellaneous. 

(a) Binding Effect. This Amendment shall be binding upon and inure to the benefit of the Parties and their respective heirs, legal
representatives, successors, and permitted assigns. Except as otherwise expressly provided in this Amendment, or by operation of law, neither this Amendment nor any of the rights, interests, or obligations hereunder may be assigned by any Party
without the prior written consent of the other Party. 
 (b) Entire Agreement. This Amendment and the Original Note constitute the
entire agreement among the Parties and supersede all prior oral and written negotiations, communications, discussions and correspondence pertaining to the subject matter hereof. 

(c) Amendments and Waivers. This Amendment may only be amended or modified by an instrument in writing signed by all of the Parties.

  

					
		 		  	AMENDMENT TO
		 		  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 (d) Governing Law. THIS AMENDMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO
THE EXTENT NOT EXPRESSLY PROVIDED FOR THEREIN), SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE INTERNAL LAWS OF THE STATE OF UTAH, WITHOUT REFERENCE TO CONFLICTS OF LAWS RULES THEREOF. 

(e) Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A TRIAL BY JURY
WITH RESPECT TO ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER
PARTY OR PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH PARTY HEREBY AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER
AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION 2(e) AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS
AMENDMENT, OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS, OR MODIFICATIONS TO THIS AMENDMENT. 

(f) Consent to Jurisdiction. Each Party irrevocably consents and agrees that any action, proceeding, or other litigation by or against
any other Party or Parties with respect to any claim or cause of action based upon or arising out of or related to this Amendment or the transactions contemplated hereby, shall be brought and tried exclusively in the federal or state courts located
in the City of Provo, County of Utah, in the State of Utah, and any such legal action or proceeding may be removed to the aforesaid courts. By execution and delivery of the Amendment, each Party accepts, for itself and in respect of its property,
generally and unconditionally, the exclusive jurisdiction of the aforesaid courts. Each Party hereby irrevocably waives (i) any objection which it may now or hereafter have to the laying of venue with respect any such action, proceeding, or
litigation arising out of or in connection with this Amendment or the transactions contemplated hereby brought in the aforesaid courts, and (ii) any right to stay or dismiss any such action, proceeding, or litigation brought before the
aforesaid courts on the basis of forum non-conveniens. Each Party further agrees that personal jurisdiction over it may be affected by service of process by certified mail, postage prepaid, addressed as provided in the Original Note, and when
so made shall be as if served upon it personally within the State of Utah. 
 (g) Counterparts. This Amendment may be executed by one
or more of the Parties on any number of separate counterparts, by facsimile or email, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A facsimile or portable document format (“pdf”)
signature page shall constitute an original for purposes hereof. 
 [SIGNATURE PAGES FOLLOW] 

  

					
		 	2	  	AMENDMENT TO
		 		  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed as of the day and year
first written above. 
  

			
	BORROWER:
	  
 VIVINT SOLAR, INC.,

a Delaware corporation

		
	By:	 	/s/ Paul Dickson
	Name:	 	Paul Dickson
	Title:	 	VP of Financing

 [SIGNATURE PAGES CONTINUE ON FOLLOWING PAGE] 

[SIGNATURE PAGE] 

  

					
		 		  	
		 		  	AMENDMENT TO
		 		  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

 
			
	LENDER:
	  
 APX GROUP, INC.,

a Delaware corporation

		
	By:	 	/s/ Dale R. Gerard
	Name:	 	Dale R. Gerard
	Title:	 	VP of Finance and Treasurer

 [SIGNATURE PAGE] 

  

					
		 		  	AMENDMENT TO
		 		  	SUBORDINATED NOTE AND LOAN AGREEMENT
		 		  	(APX Group, Inc.)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00234-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00234-of-00352.parquet"}]]