Document:

a2017employeestockpurcha

                                                                                                                  Ameresco Inc.                      2017 EMPLOYEE STOCK PURCHASE PLAN                                    as amended         The purpose of this 2017 Employee Stock Purchase Plan (this “Plan”) is to provide  eligible employees of Ameresco Inc. (the “Company”) and certain of its subsidiaries with  opportunities to purchase shares of the Company’s Class A common stock, $0.0001 par value per  share (the “Common Stock”), commencing at the time set forth in the Plan.  Subject to  adjustment under Section 15 hereof, the number of shares of Common Stock that have been  approved for this purpose is 200,000 shares of Common Stock.           This Plan is intended to qualify as an “employee stock purchase plan” as defined in  Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations  issued thereunder, and shall be interpreted consistent therewith.         1.  Administration.  The Plan will be administered by the Board of Directors of the  Company (the “Board”) or by a Committee appointed by the Board (the “Committee”).  The  Board or the Committee has authority to make rules and regulations for the administration of the  Plan and its interpretation and decisions with regard thereto shall be final and conclusive.        2.  Eligibility.  All employees of the Company and all employees of any subsidiary of the  Company (as defined in Section 424(f) of the Code) designated by the Board or the Committee  from time to time (a “Designated Subsidiary”), are eligible to participate in any one or more of  the offerings of Options (as defined in Section 9) to purchase Common Stock under the Plan  provided that:               (a)  they are customarily employed by the Company or a Designated Subsidiary  for more than twenty (20) hours a week and for more than five (5) months in a calendar year;               (b)  they have been employed by the Company or a Designated Subsidiary for at  least six (6) months prior to enrolling in the Plan; and               (c)  they are employees of the Company or a Designated Subsidiary on the first  day of the applicable Plan Period (as defined below).   No employee may be granted an Option hereunder if such employee, immediately after the  Option is granted, owns 5% or more of the total combined voting power or value of the stock of  the Company or any subsidiary.  For purposes of the preceding sentence, the attribution rules of  Section 424(d) of the Code shall apply in determining the stock ownership of an employee, and  all stock that the employee has a contractual right to purchase shall be treated as stock owned by  the employee.         The Company retains the discretion to determine which eligible employees may  participate in an offering pursuant to and consistent with Treasury Regulation Sections 1.423- 2(e) and (f).                                          1    

 

                                                                                       3.  Offerings.  The Company will make two offerings in a twelve month period  (“Offerings”) to employees to purchase stock under this Plan.  Offerings will begin each June 1  and December 1, or the first business day thereafter (such dates, the “Offering Commencement  Dates”).  Each Offering Commencement Date will begin a six (6) month period (a “Plan Period”)  during which payroll deductions will be made and held for the purchase of Common Stock at the  end of the Plan Period.  The Board or the Committee may, at its discretion, choose a different  Plan Period of not more than twelve (12) months for Offerings.         4.  Participation.  An employee eligible on the Offering Commencement Date of any  Offering may participate in such Offering by completing and forwarding either a written or  electronic payroll deduction authorization form to the employee’s appropriate payroll office at  least ten (10) days prior to the applicable Offering Commencement Date.  The form will  authorize a regular payroll deduction from the Compensation received by the employee during  the Plan Period.  Unless an employee files a new form or withdraws from the Plan, his or her  deductions and purchases will continue at the same rate for future Offerings under the Plan as  long as the Plan remains in effect.  The term “Compensation” means the amount of money  reportable on the employee’s Federal Income Tax Withholding Statement, excluding overtime,  shift premium, incentive or bonus awards, allowances and reimbursements for expenses such as  relocation allowances for travel expenses, income or gains associated with the grant or vesting of  restricted stock, income or gains on the exercise of Company stock options or stock appreciation  rights, and similar items, whether or not shown or separately identified on the employee’s  Federal Income Tax Withholding Statement, but including, in the case of salespersons, sales  commissions to the extent determined by the Board or the Committee.         5.  Deductions.  The Company will maintain payroll deduction accounts for all  participating employees.  With respect to any Offering made under this Plan, an employee may  authorize a payroll deduction in any percentage amount (in whole percentages) up to a maximum  of fifteen (15)% of the Compensation he or she receives during the Plan Period or such shorter  period during which deductions from payroll are made. The Board or the Committee may, at its  discretion, designate a lower maximum contribution rate.  The minimum payroll deduction is  such percentage of Compensation as may be established from time to time by the Board or the  Committee.         6.  Deduction Changes. An employee may decrease or discontinue his or her payroll  deduction once during any Plan Period, by filing either a written or electronic new payroll  deduction authorization form.  However, an employee may not increase his or her payroll  deduction during a Plan Period. If an employee elects to discontinue his or her payroll deductions  during a Plan Period, but does not elect to withdraw his or her funds pursuant to Section 8  hereof, funds deducted prior to his or her election to discontinue will be applied to the purchase  of Common Stock on the Exercise Date (as defined below).          7.  Interest. Interest will not be paid on any employee accounts, except to the extent that  the Board or the Committee, in its sole discretion, elects to credit employee accounts with  interest at such rate as it may from time to time determine.         8.  Withdrawal of Funds. An employee may at any time prior to the close of business on  the fifteenth business day prior to the end of a Plan Period and for any reason permanently draw                                         2    

 

                                                                                 out the balance accumulated in the employee’s account and thereby withdraw from participation  in an Offering. Partial withdrawals are not permitted.  The employee may not begin participation  again during the remainder of the Plan Period during which the employee withdrew his or her  balance.  The employee may participate in any subsequent Offering in accordance with terms  and conditions established by the Board or the Committee.         9.  Purchase of Shares.               (a)  Number of Shares. On the Offering Commencement Date, the Company will  grant to each eligible employee who is then a participant in the Plan an option (an “Option”) to  purchase on the last business day of such Plan Period (the “Exercise Date”) at the applicable  purchase price (the “Option Price”) up to that number of shares of Common Stock determined by  multiplying $2,083 by the number of full months in the Plan Period and dividing the result by the  closing price (as determined below) on the Offering Commencement Date; provided, however,  that no employee may be granted an Option which permits his or her rights to purchase Common  Stock under this Plan and any other employee stock purchase plan (as defined in Section 423(b)  of the Code) of the Company and its subsidiaries, to accrue at a rate which exceeds $25,000 of  the fair market value of such Common Stock (determined at the date such Option is granted) for  each calendar year in which the Option is outstanding at any time; and, provided, further,  however, that the Committee may, in its discretion, set a fixed maximum number of shares of  Common Stock that each eligible employee may purchase per Plan Period which number may  not be greater than the number of shares of Common Stock determined by using the formula in  the first clause of this Section 9(a) and which number shall be subject to the second clause of this  Section 9 (a).               (b)  Option Price.  The Board or the Committee shall determine the Option Price  for each Plan Period, including whether such Option Price shall be determined based on the  lesser of the closing price of the Common Stock on (i) the first business day of the Plan Period or  (ii) the Exercise Date, or shall be based solely on the closing price of the Common Stock on the  Exercise Date; provided, however, that such Option Price shall be at least 85% of the applicable  closing price. In the absence of a determination by the Board or the Committee, the Option Price  will be 95% of the lesser of the closing price of the Common Stock on (i) the first business day  of the Plan Period or (ii) the Exercise Date.  The closing price shall be (a) the closing price (for  the primary trading session) on any national securities exchange on which the Common Stock is  listed or (b) the average of the closing bid and asked prices in the over-the-counter-market,  whichever is applicable, as published in The Wall Street Journal or another source selected by  the Board or the Committee.  If no sales of Common Stock were made on such a day, the price of  the Common Stock shall be the reported price for the next preceding day on which sales were  made.               (c)  Exercise of Option. Each employee who continues to be a participant in the  Plan on the Exercise Date shall be deemed to have exercised his or her Option at the Option  Price on such date and shall be deemed to have purchased from the Company the number of  whole shares of Common Stock reserved for the purpose of the Plan that his or her accumulated  payroll deductions on such date will pay for, but not in excess of the maximum numbers  determined in the manner set forth above.                                         3    

 

                                                                                             (d)  Return of Unused Payroll Deductions. Any balance remaining in an  employee’s payroll deduction account at the end of a Plan Period will be automatically refunded  to the employee.         10.  Issuance of Certificates. Certificates representing shares of Common Stock  purchased under the Plan may be issued only in the name of the employee, in the name of the  employee and another person of legal age as joint tenants with rights of survivorship, or (in the  Company’s sole discretion) in the name of a brokerage firm, bank, or other nominee holder  designated by the employee.  The Company may, in its sole discretion and in compliance with  applicable laws, authorize the use of book entry registration of shares in lieu of issuing stock  certificates.         11.  Rights on Retirement, Death or Termination of Employment.  If a participating  employee’s employment ends before the last business day of a Plan Period, no payroll deduction  shall be taken from any pay then due and owing to the employee and the balance in the  employee’s account shall be paid to the employee. In the event of the employee’s death before  the last business day of a Plan Period, the Company shall, upon notification of such death, pay  the balance of the employee’s account (a) to the executor or administrator of the employee’s  estate or (b) if no such executor or administrator has been appointed to the knowledge of the  Company, to such other person(s) as the Company may, in its discretion, designate.  If, before  the last business day of the Plan Period, the Designated Subsidiary by which an employee is  employed ceases to be a subsidiary of the Company, or if the employee is transferred to a  subsidiary of the Company that is not a Designated Subsidiary, the employee shall be deemed to  have terminated employment for the purposes of this Plan.         12.  Optionees Not Stockholders.  Neither the granting of an Option to an employee nor  the deductions from his or her pay shall make such employee a stockholder of the shares of  Common Stock covered by an Option under this Plan until he or she has purchased and received  such shares.         13. Options Not Transferable. Options under this Plan are not transferable by a  participating employee other than by will or the laws of descent and distribution, and are  exercisable during the employee’s lifetime only by the employee.           14.  Application of Funds. All funds received or held by the Company under this Plan  may be combined with other corporate funds and may be used for any corporate purpose.         15.  Adjustment for Changes in Common Stock and Certain Other Events.               (a)  Changes in Capitalization. In the event of any stock split, reverse stock split,  stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or  other similar change in capitalization or event, or any dividend or distribution to holders of  Common Stock other than an ordinary cash dividend, (i) the number and class of securities  available under this Plan, (ii) the share limitations set forth in Section 9, and (iii) the Option  Price shall be equitably adjusted to the extent determined by the Board or the Committee.               (b)  Reorganization Events.                                         4    

 

                                                                                       (1)  Definition. A “Reorganization Event” shall mean: (a) any merger or consolidation of  the Company with or into another entity as a result of which all of the Common Stock of the  Company is converted into or exchanged for the right to receive cash, securities or other property  or is cancelled, (b) any transfer or disposition of all of the Common Stock of the Company for  cash, securities or other property pursuant to a share exchange or other transaction or (c) any  liquidation or dissolution of the Company.         (2)  Consequences of a Reorganization Event on Options. In connection with a  Reorganization Event, the Board or the Committee may take any one or more of the following  actions as to outstanding Options on such terms as the Board or the Committee determines: (i)  provide that Options shall be assumed, or substantially equivalent Options shall be substituted,  by the acquiring or succeeding corporation (or an affiliate thereof), (ii) upon written notice to  employees, provide that all outstanding Options will be terminated immediately prior to the  consummation of such Reorganization Event and that all such outstanding Options will become  exercisable to the extent of accumulated payroll deductions as of a date specified by the Board or  the Committee in such notice, which date shall not be less than ten (10) days preceding the  effective date of the Reorganization Event, (iii) upon written notice to employees, provide that  all outstanding Options will be cancelled as of a date prior to the effective date of the  Reorganization Event and that all accumulated payroll deductions will be returned to  participating employees on such date, (iv) in the event of a Reorganization Event under the terms  of which holders of Common Stock will receive upon consummation thereof a cash payment for  each share surrendered in the Reorganization Event (the “Acquisition Price”), change the last day  of the Plan Period to be the date of the consummation of the Reorganization Event and make or  provide for a cash payment to each employee equal to (A) (1) the Acquisition Price times (2) the  number of shares of Common Stock that the employee’s accumulated payroll deductions as of  immediately prior to the Reorganization Event could purchase at the Option Price, where the  Acquisition Price is treated as the fair market value of the Common Stock on the last day of the  applicable Plan Period for purposes of determining the Option Price under Section 9(b) hereof,  and where the number of shares that could be purchased is subject to the limitations set forth in  Section 9(a), minus (B) the result of multiplying such number of shares by such Option Price, (v)  provide that, in connection with a liquidation or dissolution of the Company, Options shall  convert into the right to receive liquidation proceeds (net of the Option Price thereof) and (vi)  any combination of the foregoing.         For purposes of clause (i) above, an Option shall be considered assumed if, following  consummation of the Reorganization Event, the Option confers the right to purchase, for each  share of Common Stock subject to the Option immediately prior to the consummation of the  Reorganization Event, the consideration (whether cash, securities or other property) received as a  result of the Reorganization Event by holders of Common Stock for each share of Common  Stock held immediately prior to the consummation of the Reorganization Event (and if holders  were offered a choice of consideration, the type of consideration chosen by the holders of a  majority of the outstanding shares of Common Stock); provided, however, that if the  consideration received as a result of the Reorganization Event is not solely common stock of the  acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent  of the acquiring or succeeding corporation, provide for the consideration to be received upon the  exercise of Options to consist solely of such number of shares of common stock of the acquiring  or succeeding corporation (or an affiliate thereof) that the Board determines to be equivalent in                                         5    

 

                                                                                 value (as of the date of such determination or another date specified by the Board) to the per  share consideration received by holders of outstanding shares of Common Stock as a result of the  Reorganization Event.         16.  Amendment of the Plan.  The Board may at any time, and from time to time, amend  or suspend this Plan or any portion thereof, except that (a) if the approval of any such  amendment by the shareholders of the Company is required by Section 423 of the Code, such  amendment shall not be effected without such approval, and (b) in no event may any amendment  be made that would cause the Plan to fail to comply with Section 423 of the Code.           17.  Insufficient Shares.  If the total number of shares of Common Stock specified in  elections to be purchased under any Offering plus the number of shares purchased under  previous Offerings under this Plan exceeds the maximum number of shares issuable under this  Plan, the Board or the Committee will allot the shares then available on a pro-rata basis.         18. Termination of the Plan.  This Plan may be terminated at any time by the Board.  Upon termination of this Plan all amounts in the accounts of participating employees shall be  promptly refunded.         19. Governmental Regulations.  The Company’s obligation to sell and deliver Common  Stock under this Plan is subject to listing on a national stock exchange (to the extent the  Common Stock is then so listed or quoted) and the approval of all governmental authorities  required in connection with the authorization, issuance or sale of such stock.         20.  Governing Law.  The Plan shall be governed by Delaware law except to the extent  that such law is preempted by federal law.         21.  Issuance of Shares. Shares may be issued upon exercise of an Option from  authorized but unissued Common Stock, from shares held in the treasury of the Company, or  from any other proper source.         22.  Notification upon Sale of Shares.  Each employee agrees, by entering the Plan, to  promptly give the Company notice of any disposition of shares purchased under the Plan where  such disposition occurs within two years after the date of grant of the Option pursuant to which  such shares were purchased.         23.  Grants to Employees in Foreign Jurisdictions.  The Company may, to comply with  the laws of a foreign jurisdiction, grant Options to employees of the Company or a Designated  Subsidiary who are citizens or residents of such foreign jurisdiction (without regard to whether  they are also citizens of the United States or resident aliens (within the meaning of Section  7701(b)(1)(A) of the Code)) with terms that are less favorable (but not more favorable) than the  terms of Options granted under the Plan to employees of the Company or a Designated  Subsidiary who are resident in the United States.  Notwithstanding the preceding provisions of  this Plan, employees of the Company or a Designated Subsidiary who are citizens or residents of  a foreign jurisdiction (without regard to whether they are also citizens of the United States or  resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded  from eligibility under the Plan if (a) the grant of an Option under the Plan to a citizen or resident  of the foreign jurisdiction is prohibited under the laws of such jurisdiction or (b) compliance with                                        6    

 

                                                                                 the laws of the foreign jurisdiction would cause the Plan to violate the requirements of Section  423 of the Code. The Company may add one or more appendices to this Plan describing the  operation of the Plan in those foreign jurisdictions in which employees are excluded from  participation or granted less favorable Options.         24.  Authorization of Sub-Plans.  The Board may from time to time establish one or more  sub-plans under the Plan with respect to one or more Designated Subsidiaries, provided that such  sub-plan complies with Section 423 of the Code.         25.  Withholding.  If applicable tax laws impose a tax withholding obligation, each  affected employee shall, no later than the date of the event creating the tax liability, make  provision satisfactory to the Board for payment of any taxes required by law to be withheld in  connection with any transaction related to Options granted to or shares acquired by such  employee pursuant to the Plan.  The Company may, to the extent permitted by law, deduct any  such taxes from any payment of any kind otherwise due to an employee.         26. Effective Date and Approval of Stockholders. The Plan shall become effective on the  date that the Plan is approved by the Company’ stockholders (the “Effective Date”).                                           Adopted by the Board of Directors on April 26, 2017  Approved by the stockholders on June 1, 2017    Amendment Adopted by the Board of Directors on February 2, 2018  Amendment Approved by the stockholders on May 24, 2018    Amendment Adopted by the Board of Directors on July 25, 2018                                          7boaamerescoamendmentno7t

     AMENDMENT NO. 7 TO THIRD AMENDED AND RESTATED CREDIT AND                              SECURITY AGREEMENT          This AMENDMENT NO. 7 TO THIRD AMENDED AND RESTATED CREDIT AND  SECURITY  AGREEMENT  is  dated  as  of  April  4,  2018  (this  “Amendment”),  among   AMERESCO,  INC.  (the  “Borrower”),  THE  GUARANTORS  PARTY  HERETO  (the   "Guarantors" and collectively with the Borrower, the "Loan Parties"), THE LENDERS PARTY   HERETO  (the  “Lenders”),  and  BANK  OF  AMERICA,  N.A.,  as  administrative  agent  (the   “Agent”).          WHEREAS, the Loan Parties, the Lenders, and the Agent are parties to that certain Third   Amended and Restated Credit and Security Agreement dated as of June 30, 2015, as heretofore   amended, among the Borrower, the Guarantors, the Lenders, and the Agent (as amended, restated,   supplemented or otherwise modified from time to time, the “Credit Agreement”);          WHEREAS, the Loan Parties, the Agent and the Lenders wish to increase  the  LC   Commitment Amount to $20,000,000 and make certain other changes to covenants of the Credit   Agreement,  and  accordingly  revise  certain  provisions  of  the  Credit  Agreement,  as  described   herein;           NOW,  THEREFORE,  in  consideration of  the  foregoing  and  the  agreements  contained   herein, the parties agree that the Credit Agreement is hereby amended as follows:         1.    Capitalized Terms.  Except as otherwise expressly defined herein, all capitalized   terms used herein which are defined in the Credit Agreement have the same meanings herein as   therein, except to the extent that such meanings are amended hereby.          2.    Amendment to Credit Agreement.          (a)   Section 1.1 of the Credit Agreement is hereby amended to delete the definition of   “LC Commitment Amount” in its entirety and replace it with the following:                “LC Commitment Amount” means $20,000,000.          (b)   Section 3.3 of the Credit Agreement is hereby amended to add the following new   paragraph (c) immediately after paragraph (b) thereof:                (c)   Notwithstanding anything to the contrary in this Agreement or any other         Loan Documents, if the Agent determines (which determination shall be conclusive absent         manifest error), or the Borrower or Required Lenders notify the Agent (with, in the case of         the Required Lenders, a copy to Borrower) that the Borrower or Required Lenders (as         applicable) have determined, that:          (i)   adequate  and  reasonable  means  do not  exist  for  ascertaining  LIBOR  for  any               requested Interest Period, including, without limitation, because the LIBOR Screen               Rate is not available or published on a current basis and such circumstances are               unlikely to be temporary; or      AM 68306960.2   

 

 (ii)  the administrator of the LIBOR Screen Rate or a Governmental Authority having         jurisdiction over the Agent has made a public statement identifying a specific date         after which LIBOR or the LIBOR Screen Rate shall no longer be made available,         or used for determining the interest rate of loans (such specific date, the “Scheduled         Unavailability Date”), or    (iii) syndicated loans currently being executed, or that include language similar to that         contained  in  this  Section,  are being  executed  or  amended  (as  applicable)  to        incorporate or adopt a new benchmark interest rate to replace LIBOR,    then, reasonably promptly after such determination by the Agent or receipt by the Agent  of such notice , as applicable,  the Agent and the Borrower may amend this Agreement to  replace LIBOR with an alternate benchmark  rate  (including  any  mathematical or other  adjustments to the benchmark (if any) incorporated therein) , giving due consideration to  any evolving or then existing convention for similar Dollar-denominated syndicated credit  facilities for such alternative benchmarks (any such proposed rate, a “LIBOR Successor  Rate”),  together  with  any  proposed  LIBOR  Successor  Rate  Conforming Changes  (as  defined below) and any such amendment shall become effective at 5:00 p.m. (New York  time) on the fifth Business Day after the Agent shall have posted such proposed amendment  to all Lenders and the Borrower unless, prior to such time, Lenders  comprising  the  Required Lenders have delivered to the Agent written notice that such Required Lenders  do not accept such amendment.   If no LIBOR Successor Rate has been determined and the circumstances under clause (i)  above exist or the Scheduled Unavailability Date has occurred (as applicable), the Agent  will promptly so notify the Borrower and each Lender.  Thereafter, (x) the obligation of  the Lenders to make or maintain Eurocurrency Rate Loans denominated in Dollars shall be  suspended, (to the extent of the affected Eurocurrency Rate Loans or Interest Periods), and  (y) the Eurocurrency Rate component shall no longer be utilized in determining the Base  Rate.  Upon receipt of such notice, the Borrower may revoke any pending request for a  Borrowing of, conversion to or continuation of Eurocurrency Rate Loans denominated in  Dollars (to the extent of the affected  Eurocurrency  Rate  Loans or  Interest  Periods)  or,  failing that, will be deemed to have converted such request into a request for a Committed  Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified  therein.   Notwithstanding  anything  else  herein,  any  definition  of  LIBOR  Successor  Rate  shall  provide that in no event shall such LIBOR Successor Rate be less than zero for purposes  of this Agreement.   As used in this paragraph (c):          “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page the  Agent  designates  to  determine  LIBOR  (or  such  other  commercially  available  source  providing such quotations as may be designated by the Agent from time to time).                                     2  

 

             “LIBOR  Successor  Rate  Conforming  Changes”  means,  with  respect  to  any         proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate,         Interest Period, timing and frequency of determining rates and making payments of interest         and other administrative matters as may be appropriate, in the discretion of the Agent, to         reflect the adoption of such LIBOR Successor Rate and to permit the administration thereof         by the Agent in a manner substantially consistent with market practice (or, if the Agent         determines that adoption of any portion of such market practice is not administratively         feasible or that no market practice for the administration of such LIBOR Successor Rate         exists, in such other manner of administration as the Agent determines in consultation with         the Borrower).          (c)   Section 12.7 of the Credit Agreement is hereby amended to insert the following   new paragraph (d) immediately after paragraph (c) thereof:                (d)   Customary  Advertising  Material.   The  Loan  Parties  consent  to  the         publication by the Agent or any Lender of customary advertising material relating to the         transactions contemplated hereby using the name, product photographs, logo or trademark         of the Loan Parties.          3.    Confirmation of Guaranty by Guarantors.  Each Guarantor hereby confirms and   agrees that all indebtedness, obligations or liability of the Borrower under the Credit Agreement   as amended hereby, whether any such indebtedness, obligations and liabilities are now existing or   hereafter arising, due or to become due, absolute or contingent, or direct or indirect, constitute   “Guaranteed  Obligations”  under  and  as  defined  in  the  Credit  Agreement  and,  subject  to  the   limitation set forth in Section 4.1 of the Credit Agreement, are guaranteed by and entitled to the   benefits of the Guaranty set forth in Article 4 of the Credit Agreement.  Each Guarantor hereby   ratifies and confirms the terms and provisions of such Guarantor’s Guaranty and agrees that all of  such terms and provisions remain in full force and effect.         4.    Confirmation  of  Security  Interests.  Each Loan Party (other than  the  Special   Guarantors) hereby confirms and agrees that all indebtedness, obligations and liabilities of the   Loan Parties under the Credit Agreement as amended hereby, whether any such indebtedness,   obligations and liabilities are now existing or hereafter arising, due or to become due, absolute or   contingent,  or  direct  or  indirect,  constitute  “Secured  Obligations”  under  and  as  defined  in  the   Credit Agreement and are secured by the Collateral and entitled to the benefits of the grant of   security interests pursuant to Article 5 of the Credit Agreement.  The Loan Parties (other than the   Special Guarantors) hereby ratify and confirm the terms and provisions of Article 5 of the Credit   Agreement and agree that, after giving effect to this Amendment, all of such terms and provisions   remain in full force and effect.          5.    No Default; Representations and Warranties, etc.  The Loan Parties hereby confirm   that, after giving effect to this Amendment, (i) the representations and warranties of the Loan   Parties contained in Article 6 of the Credit Agreement and the other Loan Documents (A) that   contain a materiality qualification are true and correct on and as of the date hereof as if made on   such date (except to the extent that such representations and warranties expressly relate to an earlier   date), and (B) that do not contain a materiality qualification are true and correct in all material   respects  on  and  as  of  the  date  hereof  as  if  made  on  such  date  (except  to  the  extent  that  such                                           3  

 

 representations and warranties expressly relate to an earlier date), and (ii) no Default or Event of   Default shall have occurred and be continuing.  Each Loan Party hereby further represents and   warrants that (a) the execution, delivery and performance by such Loan Party of this Amendment   (i) have been duly authorized by all necessary action on the part of such Loan Party, (ii) will not   violate any applicable law or regulation or the organizational documents of such Loan Party, (iii)   will not violate or result in a default under any indenture, agreement or other instrument binding   on such Loan Party or any of its assets that will have a Material Adverse Effect, and (iv) do not   require  any  consent,  waiver,  approval,  authorization  or  order  of,  or  filing,  registration  or   qualification with, any court or governmental authority or any Person (other than the Agent and   the Lenders) which has not been made or obtained; and (b) it has duly executed and delivered this   Amendment.          6.    Conditions to Effectiveness.  This Amendment shall become effective upon the   receipt by the Agent of counterparts of this Amendment duly executed by each of the parties hereto  or written evidence reasonably satisfactory to the Agent that each of the parties hereto has signed  a counterpart of this Amendment.         7.    Miscellaneous.          (a)   Except to the extent specifically amended hereby, the Credit Agreement, the Loan   Documents and all related documents shall remain in full force and effect.  This Amendment shall   constitute a Loan Document.  Whenever the terms or sections amended hereby shall be referred to   in  the  Credit  Agreement,  Loan  Documents  or  such  other  documents  (whether  directly  or  by   incorporation into other defined terms), such defined terms shall be deemed to refer to those terms   or sections as amended by this Amendment.          (b)   This Amendment may be executed in any number of counterparts, each of which,   when executed and delivered, shall be an original, but all counterparts shall together constitute one   instrument.  Delivery of an executed counterpart to this Amendment by telecopy or other electronic   means shall be effective as an original and shall constitute a representation that an original will be   delivered.          (c)   This  Amendment  shall  be  governed  by  the  laws  of  the  Commonwealth  of   Massachusetts and shall be binding upon and inure to the benefit of the parties hereto and their   respective successors and assigns.          (d)   The Loan Parties agree to pay all reasonable expenses, including legal fees and   disbursements, incurred by the Agent in connection with this Amendment and the transactions   contemplated hereby.                                [Signature Pages Follow]                                               4  

 

      IN WITNESS WHEREOF, the parties hereto have executed this Amendment which shall  be deemed to be a sealed instrument as of the date first above written.                                   BORROWER                                                                AMERESCO, INC.                                 By:  /s/ John R. Granara, III __________________________                                    Name:    John R. Granara, III                                   Title:   Executive Vice President & Chief Financial                                   Officer                                                                   GUARANTORS                                                                AMERESCO ENERTECH, INC.                                AMERESCO FEDERAL SOLUTIONS, INC.                                AMERESCO PLANERGY HOUSING, INC.                                AMERESCO QUANTUM, INC.                                AMERESCO SELECT, INC.                                AMERESCOSOLUTIONS, INC.                                APPLIED ENERGY GROUP INC.                                SIERRA ENERGY COMPANY                                 By:  /s/ John R. Granara, III __________________________                                    Name:    John R. Granara, III                                   Title:   Treasurer                                 AMERESCO SOUTHWEST, INC.                                                                                                By:  /s/ John R. Granara, III __________________________                                    Name:    John R. Granara, III                                   Title:   Vice President and Treasurer                                 E.THREE CUSTOM ENERGY SOLUTIONS, LLC,                                By: Sierra Energy Company, its sole member                                                                                                By:  /s/ John R. Granara, III __________________________                                    Name:    John R. Granara, III                                   Title:   Treasurer         [Signature Page to Amendment No. 7 to Third Amended Ameresco Credit and Security Agreement]  

 

                         AMERESCO ASSET SUSTAINABILITY GROUP LLC                           AMERESCO CT LLC                           AMERESCO DELAWARE ENERGY LLC                           AMERESCO EVANSVILLE, LLC                           AMERESCO HAWAII LLC                           AMERESCO INTELLIGENT SYSTEMS, LLC                           AMERESCO LFG HOLDINGS LLC                           AMERESCO PALMETTO LLC                           AMERESCO SOLAR, LLC                           AMERESCO SOLAR NEWBURYPORT LLC                           AMERESCO STAFFORD LLC                           SELDERA LLC                           SOLUTIONS HOLDINGS, LLC                                                      By: Ameresco, Inc., its sole member                                                                                 By:  /s/ John R. Granara, III __________________________                               Name:    John R. Granara, III                              Title:   Executive Vice President & Chief Financial                              Officer                            AMERESCO SOLAR – PRODUCTS LLC                           AMERESCO SOLAR – SOLUTIONS LLC                           AMERESCO SOLAR – TECHNOLOGIES LLC                           By: Ameresco Solar LLC, its sole member                           By: Ameresco, Inc., its sole member                                                                                 By:  /s/ John R. Granara, III __________________________                               Name:    John R. Granara, III                              Title:   Executive Vice President & Chief Financial                              Officer                     [Signature Page to Amendment No. 7 to Third Amended Ameresco Credit and Security Agreement]  

 

                         AGENT:                                                      BANK OF AMERICA, N.A.                                                                                 By: _/s/ Mollie S. Canup_____________________                                 Name: Mollie S. Canup                                Title: Vice President                                                                                 LENDERS:                                                      BANK OF AMERICA, N.A.                                                                                 By: _/s/ Luanne T Smith_____________________                                Name: Luanne T Smith                                 Title: VP                                                                                 WEBSTER BANK, N.A.                                                                                 By: _/s/ Samuel Pepe________________________                                Name: Samuel Pepe                                 Title: VP                   [Signature Page to Amendment No. 7 to Third Amended Ameresco Credit and Security Agreement]

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