Document:

Exhibit 10.11

 

Execution Version

 

CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED FOR THE REDACTED PORTIONS OF THIS AGREEMENT. THE REDACTIONS ARE
INDICATED WITH FIVE ASTERISKS (“*****”). A COMPLETE VERSION OF THIS AGREEMENT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

AMENDMENT
NO. 1

TO

FOURTH
AMENDED AND RESTATED SECURED PROMISSORY NOTE

 

This AMENDMENT NO. 1 TO
FOURTH AMENDED AND RESTATED SECURED PROMISSORY NOTE (this “Amendment”),
dated as of November 30, 2009, is entered into by and between First Wind
Acquisition, LLC, a Delaware limited liability company, (“FWA”) and HSH
Nordbank AG, New York Branch as Lender, Collateral Agent and Administrative
Agent, (“HSHN”).

 

RECITALS

 

WHEREAS, FWA and HSHN
entered into that certain Fourth Amended and Restated Secured Promissory Note,
dated as of July 17, 2009 (the “FWA Note”); and

 

WHEREAS, FWA and HSHN
wish to amend the FWA Note as set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing and mutual agreements herein contained and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound hereby,
agree as follows:

 

AGREEMENT

 

Section 1.       Definitions.  Capitalized terms used and not otherwise defined
in this Amendment shall have the meanings assigned to such terms in the FWA
Note, as applicable, and the principles of interpretation set forth in Section 1(b) of
the FWA Note shall apply herein.

 

Section 2.       Amendments to FWA Note.   Effective on the date hereof, the FWA Note is
hereby amended as follows:

 

(a)           Section 2.5(b)(iii) is
hereby amended to add a proviso immediately after the words “together with all
interest and fees thereon” that shall read as follows:

 

“; provided, that
in respect of the five (5) Turbines previously assigned to the Stetson II
Project and erected at the site for the Stetson II Project, FWA shall no later
than December 4, 2009 make a prepayment of the Corresponding Term Loans
related to such Turbines such that, after giving effect to such prepayment, the
aggregate outstanding principal amount of the Corresponding Term Loans for each
such Turbine is equal to or less than $***** per megawatt of capacity of such
Turbine; provided, further, that any other Turbines assigned to
the Stetson II Project may be erected at the site for the Stetson II Project
upon or after receipt by HSHN of prepayment(s) such that, after giving
effect to such prepayment(s), the aggregate outstanding principal amount of
Corresponding Term Loans for each such Turbine is equal to or less than $*****
per megawatt of capacity of such Turbine.”

 

 

(b)           Section 5(x) is hereby
amended to add a proviso immediately following the words “or that could
materially impair the lien of the Security Agreements” that shall read as
follows:

 

; provided, further
that the Borrower may (I) remove from storage, transport and store the
Turbines related to the Stetson II Project at the site for the Stetson II
Project and (II) erect, install or assemble the Turbines related to the
Stetson II Project at the site for the Stetson II Project so long as the
required prepayment set forth in Section 2.5(b)(iii) has been
received by HSHN.”

 

Section 3.  Effectiveness.  This Amendment shall become effective as of
the date hereof. This Amendment constitutes the entire agreement between the
parties hereto with respect to the matters dealt with herein. All previous
documents, undertakings and agreements, whether verbal, written or otherwise,
between the parties hereto with respect to the subject matter of the Amendment,
are hereby cancelled and superseded and shall not affect or modify any of the
terms or obligations set forth in this Amendment.

 

Section 4.       Miscellaneous.

 

(a)           Reference to and Effect on the FWA
Note and Other Basic Document.  Except
as expressly set forth herein, the FWA Note and the other Basic Documents as
specifically amended by this Amendment shall remain unchanged and in full force
and effect and are hereby ratified and confirmed.

 

(b)           Governing Law, Etc.  This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York (without regard
to conflict of laws provisions thereof other than Section 5-1401 of the
New York General Obligations Law). FWA hereby irrevocably and unconditionally
submits to the non-exclusive jurisdiction of any state or federal court sitting
in the County of New York, State of New York over any suit, action or
proceeding arising out of or relating to this Amendment. Service of process by
HSHN in any such dispute shall be binding on FWA if sent to FWA by registered
or certified mail, at the address specified on the signature page of this
Amendment. FWA agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in any other jurisdiction.

 

EACH PARTY WAIVES ANY
RIGHT IT MAY HAVE TO JURY TRIAL IN ANY ACTION RELATED TO THIS AMENDMENT OR
THE TRANSACTIONS CONTEMPLATED HEREBY.

 

NO CLAIM SHALL BE MADE BY
ANY PARTY HERETO OR ANY OF ITS AFFILIATES, DIRECTORS, EMPLOYEES, ATTORNEYS OR
AGENTS AGAINST ANY OTHER PARTY HERETO OR ANY OF ITS AFFILIATES, DIRECTORS,
EMPLOYEES, 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 AMENDMENT 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

 

2

 

SPECIAL, INDIRECT,
CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT
KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR.

 

(c)           Counterparts and Facsimile or
Electronic Mail Execution.  This
Amendment may be executed in any number of counterparts, all of which taken
together shall constitute one and the same instrument and any of the parties
hereto may execute this Amendment by signing any such counterpart. Delivery of
an executed counterpart of this Amendment by facsimile or by electronic mail
shall be equally as effective as delivery of an original executed counterpart
of this Amendment. Any party delivering an executed counterpart of this
Amendment by facsimile or by electronic mail also shall deliver an original
executed counterpart of this Amendment, but the failure to deliver an original
executed counterpart shall not affect the validity, enforceability, and binding
effect of this Amendment.

 

(d)           Address for Notices.  The parties acknowledge and agree that the
address for notices set forth on the signature pages to this Amendment
shall be the addresses for all notices delivered in connection with this
Amendment, the FWA Note or any Basic Document and that the addresses set forth
on the signature pages to the FWA Note shall no longer be effective for
notices.

 

[Signature Pages Follow]

 

3

 

IN WITNESS WHEREOF, the
parties have caused this Amendment to be duly executed and delivered as of the
date and year first above written.

 

 

	
   

  	
  FIRST WIND ACQUISITION, LLC, 

  a Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert S. Schauer

  
	
   

  	
   

  	
  Name:  Robert S. Schauer

  
	
   

  	
   

  	
  Title:  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address for Notices:

  
	
   

  	
   

  
	
   

  	
  First Wind Acquisition,
  LLC 

  
	
   

  	
  c/o First Wind Energy, LLC 

  
	
   

  	
  179 Lincoln Street, Suite 500

  
	
   

  	
  Boston, MA 02111 

  
	
   

  	
  Attention: President 

  
	
   

  	
  Facsimile: (617)
  960-2889

  
	
   

  	
   

  
	
   

  	
  with a copy to:

  
	
   

  	
   

  
	
   

  	
  First Wind Energy, LLC 

  
	
   

  	
  179 Lincoln Street, Suite 500
  

  
	
   

  	
  Boston, MA 02111 

  
	
   

  	
  Attention: General
  Counsel 

  
	
   

  	
  Facsimile: (617) 960-2889

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Amendment No. 1
  to FWA Note

  

 

 

 

	
   

  	
  HSH
  NORDBANK AG, ACTING

  THROUGH ITS NEW YORK BRANCH,

  
	
   

  	
  as Lender,
  Administrative Agent and Collateral Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ David Watson

  
	
   

  	
  By:

  	
  David Watson

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
  HSH Nordbank AG,
  New York Branch

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Michael Pepe

  
	
   

  	
  By:

  Title:

  	
  Michael Pepe

  Senior Vice
  President

  
	
   

  	
   

  	
  HSH Nordbank AG,
  NY Branch

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address for Notices:

  
	
   

  	
   

  
	
   

  	
  HSH NORDBANK AG, NEW
  YORK BRANCH

  
	
   

  	
  230 Park Avenue

  
	
   

  	
  32nd Floor

  
	
   

  	
  New York, New York
  10169-0005

  
	
   

  	
  Attention:  Energy - Portfolio Management

  
	
   

  	
  Telephone: (212)
  407-6044 (David Watson)

  
	
   

  	
  Facsimile:  (212) 407-6807

  
	
   

  	
   

  
	
   

  	
  with a copy to:

  
	
   

  	
   

  
	
   

  	
  HSH NORDBANK AG, NEW
  YORK BRANCH

  
	
   

  	
  230 Park Avenue

  
	
   

  	
  32nd Floor

  
	
   

  	
  New York, New York
  10169-0005

  
	
   

  	
  Attention:  General Counsel

  
	
   

  	
  Telephone: (212) 407-6142

  
	
   

  	
  Facsimile:  (212) 407-6811

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Amendment No. 1
  to FWA NoteExhibit 10.12

 

EXECUTION
VERSION

 

CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED FOR THE REDACTED PORTIONS OF THIS AGREEMENT. THE
REDACTIONS ARE INDICATED WITH FIVE ASTERISKS (“*****”). A COMPLETE VERSION OF
THIS AGREEMENT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

 

AMENDMENT NO. 2

TO

FOURTH AMENDED AND RESTATED SECURED
PROMISSORY NOTE

 

This AMENDMENT NO. 2 TO FOURTH AMENDED AND RESTATED
SECURED PROMISSORY NOTE (this “Amendment”), dated as of December 22,
2009, is entered into by and between First Wind Acquisition, LLC, a Delaware
limited liability company, (“FWA”) and HSH Nordbank AG, New York Branch
as Lender, Collateral Agent and Administrative Agent, (“HSHN”).

 

RECITALS

 

WHEREAS, FWA and HSHN entered into that certain Fourth
Amended and Restated Secured Promissory Note, dated as of July 17, 2009 (the “FWA
Note”);

 

WHEREAS,
FWA and HSHN wish to amend the FWA Note as set forth herein;

 

NOW, THEREFORE, in consideration of the foregoing and
mutual agreements herein contained and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto, intending to be legally bound hereby, agree as follows:

 

AGREEMENT

 

Section 1.                    Definitions. Capitalized terms used and not
otherwise defined in this Amendment shall have the meanings assigned to such
terms in the FWA Note, as applicable, and the principles of interpretation set
forth in Section 1(b) of the FWA Note shall apply herein.

 

Section 2.                    Amendments to FWA Note. Effective on the date hereof, the FWA Note
is hereby amended as follows:

 

(a)            The definition of “North Shore Loan
Maturity Date” is hereby deleted in its entirety and replaced with the
following:

 

“North
Shore Loan Maturity Date” shall be the earlier to occur of: (a) any date on
which the owner of the North Shore Parcel sells, transfers, hypothecates,
pledges or otherwise disposes of the North Shore Parcel (other than a sale,
transfer, hypothecation, pledge or disposition pursuant to a Permitted Lien),
or (b) March 31, 2010.

 

(b)           The proviso in Section 2.5(b)(iii) is
hereby deleted in its entirety and replaced with the following:

 

provided, that (A) in respect of the five (5) Turbines
previously assigned to the Stetson II Project and erected at the site for the
Stetson II Project, FWA shall no later than December 4, 2009 make a prepayment
of the Corresponding Term Loans related to such Turbines and (B) in respect of
the three (3) Turbines

 

 

previously
assigned to the Stetson II Project and erected at the site for the Stetson II
Project on December 21, 2009, FWA shall no later than December 23, 2009 make a
prepayment of the Corresponding Term Loans related to such Turbines such that,
after giving effect to such prepayments in clause (A) or (B), as applicable,
the aggregate outstanding principal amount of the Corresponding Term Loans for
each such Turbine is equal to or less than $***** per megawatt of capacity of
such Turbine; provided, further, that any other Turbines assigned
to the Stetson II Project may be erected at the site for the Stetson II Project
upon or after receipt by HSHN of prepayment(s) such that, after giving effect
to such prepayment(s), the aggregate outstanding principal amount of
Corresponding Term Loans for each such Turbine is equal to or less than $*****
per megawatt of capacity of such Turbine.

 

Section 3.                    Legal Effect. This Amendment shall become effective
as of the date hereof. This Amendment constitutes the entire agreement between
the parties hereto with respect to the matters dealt with herein. All previous
documents, undertakings and agreements, whether verbal, written or otherwise,
between the parties hereto with respect to the subject matter of the Amendment,
are hereby cancelled and superseded and shall not affect or modify any of the
terms or obligations set forth in this Amendment.

 

Section 4.                    Miscellaneous.

 

(a)           Reference to and Effect on the FWA Note
and Other Basic Documents. Except as expressly set forth herein, the FWA Note shall remain
unchanged and in full force and effect and are hereby ratified and confirmed.
FWA acknowledges that this Amendment does not constitute any commitment to
provide any additional loans or other extensions of credit, any future waiver
or forbearance, or any additional extensions of time for the repayment of any
debt. In consideration for the commitments and extensions of credit contained
in the FWA Note as amended by this Amendment, FWA agrees and covenants that it
will not claim that any current or prior action or course of conduct by HSHN
with respect to any failure of FWA to repay Loans or other obligations by the
Maturity Date, or any related Event of Default that has occurred or may
hereafter occur, constitutes an agreement or obligation to continue such action
or course of conduct in the future. FWA acknowledges that HSHN has not made any
commitments, undertakings, waivers or amendments in respect of the Basic
Documents, except as expressly set forth in this Amendment.

 

(b)           Governing Law, Etc. This Amendment shall be governed by,
and construed in accordance with, the laws of the State of New York (without
regard to conflict of laws provisions thereof other than Section 5-1401 of the
New York General Obligations Law). FWA hereby irrevocably and unconditionally
submits to the non-exclusive jurisdiction of any state or federal court sitting
in the County of New York, State of New York over any suit, action or
proceeding arising out of or relating to this Amendment. Service of process by
HSHN in any such dispute shall be binding on FWA if sent to FWA by registered
or certified mail, at the address specified on the signature page of this
Amendment. FWA agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in any other jurisdiction.

 

2

 

EACH PARTY WAIVES ANY RIGHT IT MAY HAVE TO JURY TRIAL
IN ANY ACTION RELATED TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

NO
CLAIM SHALL BE MADE BY ANY PARTY HERETO OR ANY OF ITS AFFILIATES, DIRECTORS,
EMPLOYEES, ATTORNEYS OR AGENTS AGAINST ANY OTHER PARTY HERETO OR ANY OF ITS
AFFILIATES, DIRECTORS, EMPLOYEES, 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 AMENDMENT 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.

 

(c)           Counterparts and Facsimile or Electronic
Mail Execution.
This Amendment may be executed in any number of counterparts, all of which
taken together shall constitute one and the same instrument and any of the
parties hereto may execute this Amendment by signing any such counterpart.
Delivery of an executed counterpart of this Amendment by facsimile or by
electronic mail shall be equally as effective as delivery of an original
executed counterpart of this Amendment. Any party delivering an executed
counterpart of this Amendment by facsimile or by electronic mail also shall
deliver an original executed counterpart of this Amendment, but the failure to
deliver an original executed counterpart shall not affect the validity,
enforceability, and binding effect of this Amendment.

 

[Remainder of page intentionally left blank.]

 

3

 

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

 

	
   

  	
  FIRST
  WIND ACQUISITION, LLC, 

  
	
   

  	
  a
  Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Evelyn Lim

  
	
   

  	
   

  	
  Name: 

  	
  Evelyn Lim

  
	
   

  	
   

  	
  Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Address
  for Notices:

  
	
   

  	
   

  
	
   

  	
  First
  Wind Acquisition, LLC 

  
	
   

  	
  c/o
  First Wind Energy, LLC 

  
	
   

  	
  179
  Lincoln Street, Suite 500 

  
	
   

  	
  Boston,
  MA 02111 

  
	
   

  	
  Attention:
  President 

  
	
   

  	
  Facsimile:
  (617) 960-2889

  
	
   

  	
   

  
	
   

  	
  with
  a copy to:

  
	
   

  	
   

  
	
   

  	
  First
  Wind Energy, LLC 

  
	
   

  	
  179
  Lincoln Street, Suite 500 

  
	
   

  	
  Boston,
  MA 02111 

  
	
   

  	
  Attention:
  General Counsel 

  
	
   

  	
  Facsimile:
  (617) 960-2889

  

 

Amendment No. 2 to FWA Fourth Amended and

Restated Promissory Note

 

 

HSH
NORDBANK AG, NEW YORK BRANCH, 

as
Lender, Collateral Agent and Administrative Agent

 

 

	
  By:

  	
  /s/ David Watson

  	
   

  
	
   

  	
  Name:

  	
  David Watson

  	
   

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  	
  HSH Nordbank AG, New York Branch

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Sylvia Cheng

  	
   

  
	
   

  	
  Name:

  	
  Sylvia Cheng

  	
   

  
	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  
	
   

  	
   

  	
  HSH Nordbank AG, New York Branch

  	
   

  

 

	
   

  	
   

  
	
  HSH
  NORDBANK AG, NEW YORK BRANCH

  	
   

  
	
  230
  Park Avenue

  	
   

  
	
  32nd Floor

  	
   

  
	
  New
  York, New York 10169-0005

  	
   

  
	
  Attention:

  	
  Energy
  - Portfolio Management

  
	
  Telephone:

  	
  (212)
  407-6044 (David Watson)

  
	
  Facsimile:

  	
  (212)
  407-6807

  
	
   

  	
   

  
	
  with
  a copy to:

  	
   

  
	
   

  	
   

  
	
  HSH
  NORDBANK AG, NEW YORK BRANCH

  	
   

  
	
  230
  Park Avenue

  	
   

  
	
  32nd Floor

  	
   

  
	
  New
  York, New York 10169-0005

  	
   

  
	
  Attention:

  	
  General
  Counsel

  
	
  Telephone:

  	
  (212)
  407-6142

  
	
  Facsimile:

  	
  (212)
  407-6811

  
			

 

Amendment No. 2 to FWA Fourth Amended and

Restated Promissory Note

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