Document:

Exhibit 10.3

 

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

 

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

with respect to

Repowering Partnership II LLC

by and between

CWSP Wildorado Elbow Holding LLC

 

and

 

Wind TE Holdco LLC

 

dated as of April 17, 2020

 

 

     

     

    

 

Table
of Contents

 

	 	 	Page
	 	 	 
	ARTICLE 1 DEFINITIONS AND PRINCIPLES OF INTERPRETATION	2
	1.01.	Definitions	2
	1.02.	Rules of Interpretation	8
	ARTICLE 2 SALE OF MEMBERSHIP INTERESTS	8
	2.01.	Purchase and Sale	8
	2.02.	Purchase Price	8
	2.03.	Transfer Taxes	9
	2.04.	Tax Reporting of Transaction	9
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES	9
	3.01.	Representations and Warranties with respect to the Seller	9
	3.02.	Representations and Warranties with Respect to the Purchaser	11
	ARTICLE 4 CONDITIONS PRECEDENT	13
	4.01.	Closing Date Conditions Precedent	13
	ARTICLE 5 CERTAIN COVENANTS	15
	5.01.	Regulatory and Other Permits	15
	5.02.	Fulfillment of Conditions	15
	5.03.	Further Assurances	15
	5.04.	Notice of Transfer	15
	5.05.	[***]	16
	ARTICLE 6 INDEMNIFICATION	16
	6.01.	Indemnification by Seller	16
	6.02.	Indemnification by Purchaser	16
	6.03.	Survival of Representations, Warranties, Covenants and Agreements	16
	6.04.	Limitations on Claims	16
	6.05.	Procedure for Indemnification of Third Party Claims	17
	6.06.	Rights of the Indemnifying Party in the Defense of Third Party Claims	17
	6.07.	Direct Claims	18
	6.08.	Exclusive Remedy	19
	6.09.	Mitigations	19
	6.10.	No Solicitation	19
	ARTICLE 7 TERMINATION	19
	7.01.	Termination	19
	7.02.	Effect of Termination	20
	ARTICLE 8 GENERAL PROVISIONS	20
	8.01.	Notices	20
	8.02.	Entire Agreement	21
	8.03.	Specific Performance	21
	8.04.	Time of the Essence	21
	8.05.	Expenses	21
	8.06.	Confidentiality; Disclosures	21
	8.07.	Waiver	21
	8.08.	Amendment	21
	8.09.	No Third Party Beneficiary	21

 

    	 	-i-	 

     

    

 

TABLE OF CONTENTS 

(continued)

 

	 	 	Page
	 	 	 
	8.10.	Assignment	22
	8.11.	Severability	22
	8.12.	Governing Law	22
	8.13.	Consent to Jurisdiction	22
	8.14.	Waiver of Jury Trial	23
	8.15.	Limitation on Certain Damages	23
	8.16.	Disclosures	23
	8.17.	Facsimile Signature; Counterparts	23

 

    	 	-ii-	 

     

    

 

TABLE OF CONTENTS 

(continued)

 

Schedules
and Exhibits:

  

[***]

 

 

    	 	-iii-	 

     

    

 

MEMBERSHIP
INTEREST PURCHASE AGREEMENT

 

THIS MEMBERSHIP INTEREST
PURCHASE AGREEMENT (as amended, restated or otherwise modified from time to time, this “Agreement”), dated as
of April 17, 2020 (the “Execution Date”), is entered into by and between CWSP WILDORADO ELBOW HOLDING LLC, a
Delaware limited liability company (the “Seller”), and WIND TE HOLDCO LLC, a Delaware limited liability company
(the “Purchaser”). Purchaser and Seller are referred to, collectively, as the “Parties” and
each, individually, as a “Party.” Capitalized terms not otherwise defined herein shall have the meaning given
them in Section 1.01 of this Agreement.

 

RECITALS:

 

1.       As
of the Closing Date, Clearway Renew LLC will own one hundred percent (100%) of the membership interests in Seller. As of the Execution
Date, the Purchaser owns one hundred percent (100%) of the “Class A Membership Interests” of Repowering Partnership
II LLC (the “Company”) and the Seller owns one hundred percent (100%) of the “Class B Membership Interests”
of the Company (the “Class B Membership Interests”).

 

2.       The
Company owns one hundred percent (100%) of the membership interests in Repowering Partnership Holdco LLC, a Delaware limited liability
company (“Repowering Holdco”).

 

3.       As
of the Execution Date, (a) Repowering Holdco owns one hundred percent (100%) of the “Class B Units” (as defined in
the Elbow Creek MIPA) in Elbow Creek Repowering Tax Equity Holdco LLC, a Delaware limited liability company (“Elbow Creek
Holdco”) and Tax Equity Investor will own 100% of the “Class A Units” (as defined in the Elbow Creek MIPA)
in Elbow Creek Holdco and (b) Repowering Holdco owns one hundred percent (100%) of the “Class B Units” (as defined
in the Wildorado MIPA) in Wildorado Repowering Tax Equity Holdco LLC, a Delaware limited liability company (“Wildorado
Holdco”) and Tax Equity Investor owns 100% of the “Class A Units” (as defined in the Wildorado MIPA) in Wildorado
Holdco.

 

4.       Elbow
Creek Holdco owns one hundred percent (100%) of the membership interests in Elbow Creek Wind Project, LLC, a Texas limited liability
company ( “Elbow Creek Project Company”)

 

5.       Wildorado
Holdco owns one hundred percent (100%) of the membership interests in Wildorado Wind, LLC, a Texas limited liability company (
 “Wildorado Project Company” and together with Elbow Creek Project Company, Repowering Holdco, Elbow Creek Holdco
and Wildorado Holdco, the “Repowering Entities”).

 

6.       Elbow
Creek Project Company owns an approximately 121.9 MW AC wind energy project in Howard County, Texas (the “Elbow Creek
Project”).

 

7.       Wildorado
Project Company owns an approximately 161 MW AC wind energy project in Oldham, Randall and Potter Counties, Texas (the “Wildorado
Project” and together with the Elbow Creek Project the “Projects”).

 

     

     

    

 

8.       On
the Closing Date, Seller desires to sell and irrevocably and unconditionally transfer to Purchaser, and Purchaser desires
to purchase from Seller, one hundred percent (100%) of the Class B Membership Interests in exchange for the payment of the Purchase
Price.

 

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

 

Article
1

DEFINITIONS AND PRINCIPLES OF INTERPRETATION

 

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

 

“Acquisition Date” means
[***].

 

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

 

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

 

“Assignment
and Assumption Agreement” means an Assignment and Assumption Agreement dated as of the Closing Date by and between Seller
and Purchaser, in the form attached as Exhibit E.

 

“Business Day”
means any day except Saturday, Sunday and any day that is a legal holiday in New York City or a day on which banking institutions
are authorized or required by Law or other government action to close in New York City.

 

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

 

“Class B
Membership Interest” has the meaning set forth in the recitals.

 

“Closing”
has the meaning set forth in Section 4.01.

 

“Closing Date”
means the date on which all of the conditions set forth in Section 4.01 have been satisfied or waived and the sale of the
Class B Membership Interests to Purchaser has been consummated pursuant to this Agreement.

 

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

 

“Company”
has the meaning set forth in the recitals.

 

    	 	2	 

     

    

 

“Company Contracts”
means all material Contracts and amendments, modifications and supplements thereto, to which the Company or the Repowering Entities
is a party or by which the Company, the Repowering Entities or any of their assets or properties are bound.

 

“Consequential
Damages” has the meaning set forth in Section 8.15.

 

“Constitutive
Documents” means any certificates of formation, articles of incorporation, and the bylaws, limited liability company
agreements or partnership agreements, as amended (if applicable).

 

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

 

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

 

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

 

“Disclosure
Schedules” means the schedules to the Seller’s and Purchaser’s representations and warranties provided pursuant
to Article 3.

 

“Elbow Creek
Holdco” is defined in the recitals to this Agreement.

 

[***]

 

“Elbow Creek
Project” is defined in the recitals to this Agreement.

 

“Elbow Creek
Project Company” is defined in the recitals to this Agreement.

 

“Environmental
Law” means any Law imposing liability, standards or obligations of conduct concerning pollution or protection of human
health and safety (including the health and safety of workers under the U.S. Occupational Safety and Health Act of 1970 (29 U.S.C.
 §§ 651 et seq.)), flora and fauna, any Environmental Media, including (a) any Law relating to any
actual or threatened emission, discharge, release, manufacture, processing, distribution, use, treatment, storage, disposal, transport,
or handling of any hazardous waste (as defined by 42 U.S.C. § 6903(5)), hazardous substance (as defined by 42 U.S.C.
 § 9601(14)), hazardous material (as defined by 49 U.S.C. § 5102(2)), toxic pollutant (as listed pursuant to
33 U.S.C. § 1317), or pollutant or contaminant (as pollutant or contaminant is defined in 42 U.S.C. § 9601(33)),
any oil (as defined by 33 U.S.C. § 2701(23)); and (b) the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980 (42 U.S.C. §§ 9601 et seq.) (“CERCLA”), the Federal Water Pollution
Control Act (33 U.S.C. §§ 1251 et seq.) and the Endangered Species Act of 1973 (16 U.S.C. 1531 et seq.)
with any amendments or reauthorization thereto or thereof, and any and all regulations promulgated thereunder, and all analogous
state and local counterparts or equivalents.

 

    	 	3	 

     

    

 

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

 

“Financing Agreement”
means that certain Financing Agreement, [***], by and among the Company, the financial institutions from time to time party thereto
as lenders and as issuers of letter of credit, [***] as administrative agent for the lenders, [***], as collateral agent for the
secured parties described therein, and the other agents and Persons from time to time party thereto.

 

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

 

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

 

“Governmental
Authority” means any foreign, domestic, federal, territorial, state or local governmental authority, court, commission,
board, bureau, agency or instrumentality, or any regulatory, administrative or other department, agency, or any political or other
subdivision, department or branch of any of the foregoing, any Taxing Authority and any electric reliability organization, regional
transmission organization or independent system operator or any successor thereto.

 

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

 

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

 

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

 

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

 

“Law”
means any applicable constitution, statute, law, ordinance, regulation, rate, ruling, order, judgment, legally binding guideline,
restriction, requirement, writ, injunction or decree that has been enacted, issued or promulgated by any Governmental Authority.

 

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

 

    	 	4	 

     

    

 

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

 

“LLCA”
means the Limited Liability Company Agreement of the Company, dated as of [***], by and between Purchaser and Seller (as assignee
of Clearway Renew LLC).

 

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

 

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

 

    	 	5	 

     

    

 

“MW”
means megawatt (alternating current).

 

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

 

“Party”
has the meaning set forth in the preamble.

 

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

 

“Permitted Equity
Encumbrance” means (a) those restrictions on transfer imposed by applicable securities laws, (b) restrictions imposed
on transfers set forth in the Constitutive Documents of the Company, Elbow Creek Project Company or Wildorado Project Company,
and (c) Liens created pursuant to the “Financing Documents” (as defined in the Financing Agreement).

 

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

 

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

 

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

 

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

 

“Purchaser”
has the meaning set forth in the preamble.

 

“Repowering
Entities” is defined in the recitals to this Agreement.

 

“Repowering
Holdco” is defined in the recitals to this Agreement.

 

    	 	6	 

     

    

 

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

 

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

 

“Seller”
has the meaning set forth in the preamble.

 

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

 

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

 

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

 

[***]

 

[***]

 

“Tax”
or “Taxes” means all taxes, charges, fees, levies, penalties or other assessments imposed by any federal, state
or local or foreign taxing authority, including, but not limited to, income, excise, ad valorem, real or personal property, sales,
transfer, franchise, payroll, withholding, social security, gross receipts, license, stamp, occupation, employment or other taxes,
including any interest, penalties or additions attributable thereto.

 

[***]

 

“Tax Equity
Investor” means [***], a Delaware limited liability company.

 

“Tax Return”
means any report, form, return, statement or other information (including any amendments) required to be supplied to or filed with
a Governmental Authority by a Person with respect to Taxes, including, but not limited to, information returns, any amendments
thereof or schedule or attachment thereto and any documents with respect to or accompanying requests for the extension of time
in which to file any such report, form, return, statement or other information.

 

“Transfer Tax”
means any and all sales, use, transfer, real property transfer, recording, documentary, stamp, registration, stock transfer and
other similar Taxes (including any penalties and interest or additions thereto) incurred in connection with the transactions contemplated
by this Agreement (including recording and escrow fees and any real property or leasehold interest transfer or gains or any similar
Tax).

 

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

 

[***]

 

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

 

    	 	7	 

     

    

 

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

 

1.02.       
Rules of Interpretation.

 

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

 

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

 

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

 

Article
2

Sale of MEMBERSHIP INTERESTS

 

2.01.       
Purchase and Sale. On the basis
of the representations, warranties and agreements contained herein and subject to the terms and conditions set forth in this Agreement,
at the Closing, Seller shall sell, convey, transfer, assign, and deliver to Purchaser, and Purchaser shall purchase and accept
from Seller, all of Seller’s right, title and interest in and to the Class B Membership Interests free and clear of all Liens
(other than (i) Permitted Equity Encumbrances and (ii) Permitted Liens).

 

2.02.       
Purchase Price.

 

(a)          
In consideration of the purchase and sale of the Class B Membership Interests described in Section 2.01, Purchaser
shall pay or cause to be paid to Seller an amount (the “Purchase Price”) equal to Seventy Million Dollars ($70,000,000).

 

    	 	8	 

     

    

 

(b)          
The Purchase Price shall be due and payable and shall be paid upon the Closing Date by wire transfer of immediately available
funds, without any deduction, setoff, counterclaim or withholding except as set forth in Section 6.06, and applied in accordance
with a funds flow memorandum agreed to between the Purchaser and the Seller.

 

2.03.       
Transfer Taxes. [***].

 

2.04.       
Tax Reporting of Transaction.
For federal income tax purposes, the Parties shall report the transactions contemplated herein as follows:

 

(a)          
On the Execution Date the Company is treated as a partnership for U.S. federal income tax purposes.

 

(b)          
On the Execution Date, consistent with Revenue Ruling 99-6 (Situation 1), (i) with respect to Seller, as a sale of partnership
interests, and (ii) with respect to Purchaser, as a purchase of all the assets, and assumption of all the liabilities, of the Company.

 

Article
3

REPRESENTATIONS AND WARRANTIES

 

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

 

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

 

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

 

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

 

    	 	9	 

     

    

 

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

 

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

 

(f)           
Legal Proceedings. Except as set forth in Schedule 3.01(f) of the Disclosure Schedules, there are no Actions
or Proceedings pending or, to the Knowledge of Seller, threatened, as of the date of this Agreement against Seller that (a) affect
Seller or any of its assets or properties or (b) would reasonably be expected to result in the issuance of an Order restraining,
enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated by this Agreement.
Seller is not subject to any Order which materially restricts the operation of its business or which would reasonably be expected
to have a Material Adverse Effect.

 

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

 

(h)          
Compliance with Laws. Seller is not in material violation of any material Law or Order applicable to Seller or by
which any of the Class B Membership Interests are bound or subject. Seller has not received any notice from any Governmental Authority
of any material violation of any such Law since the Acquisition Date.

 

(i)            
Tax Status. Since the Acquisition Date Seller is not, and its owner for U.S. federal income tax purposes is not a
 “foreign person” within the meaning of Section 1445(b)(2) of the Code.

 

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

 

(k)          
Valid Interests.

 

    	 	10	 

     

    

 

(i)        Seller
owns directly of record and beneficially, free and clear of all Liens, other than Permitted Equity Encumbrances, one hundred percent
(100%) of the Class B Membership Interests of the Company on the Execution Date and on the Closing Date immediately prior to the
consummation of the sale to Purchaser contemplated by this Agreement.

 

(ii)        Other
than this Agreement and the LLCA, there are no outstanding options, warrants, calls, puts, convertible securities, or other contracts
of any nature obligating or permitting the Seller or the Company to issue, deliver, acquire or sell membership interests or other
securities in the Company.

 

(l)            
[Reserved].

 

(m)          
[***].

 

(n)          
No Other Warranties. EXCEPT FOR THE WARRANTIES SET FORTH HEREIN, THE CLASS B MEMBERSHIP INTERESTS ARE BEING SOLD
HEREUNDER ON AN “AS IS,” “WHERE IS” BASIS. THE WARRANTIES SET FORTH HEREIN ARE EXCLUSIVE AND ARE IN LIEU
OF ALL OTHER WARRANTIES, WHETHER STATUTORY, WRITTEN OR ORAL, EXPRESS OR IMPLIED; SELLER PROVIDES NO OTHER WARRANTIES WITH RESPECT
TO THE CLASS B MEMBERSHIP INTERESTS, THE COMPANY, THE PROJECT COMPANIES, THE PROJECTS, THE REPOWERING ENTITIES, THE ASSETS OF THE
COMPANY, THE ASSETS OF THE PROJECT COMPANIES, OR THE ASSETS OF THE REPOWERING ENTITIES, INCLUDING WITHOUT LIMITATION, IMPLIED WARRANTIES
OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE, ALL OF
WHICH ARE EXPRESSLY DISCLAIMED. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 3.01, SELLER MAKES NO REPRESENTATION OR WARRANTY
TO PURCHASER WITH RESPECT TO ANY FINANCIAL PROJECTIONS, FORECASTS OR FORWARD LOOKING STATEMENTS OF ANY KIND OR NATURE WHATSOEVER
RELATING TO THE COMPANY, THE PROJECT COMPANIES, THE PROJECTS, THE REPOWERING ENTITIES, THE ASSETS OF THE COMPANY, THE ASSETS OF
THE PROJECT COMPANIES, THE ASSETS OF THE REPOWERING ENTITIES OR THE CLASS B MEMBERSHIP INTERESTS.

 

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

 

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

 

    	 	11	 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	12	 

     

    

 

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

 

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

 

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

 

(k)          
Due Diligence. Purchaser, or its Representatives, have had the opportunity to conduct all such due diligence investigations
as they deemed necessary or advisable in connection with entering into this Agreement and the related documents and the transactions
contemplated hereby and thereby. PURCHASER HAS RELIED SOLELY ON ITS INDEPENDENT INVESTIGATION AND THE REPRESENTATIONS AND WARRANTIES
MADE BY SELLER IN SECTION 3.01 IN MAKING ITS DECISION TO PAY THE PURCHASE PRICE AND HAS NOT RELIED ON ANY OTHER STATEMENTS
OR ADVICE FROM SELLER OR ITS REPRESENTATIVES.

 

Article
4

CONDITIONS PRECEDENT

 

4.01.       
Closing Date Conditions Precedent.
The obligations of the Parties to consummate the sale of the Class B Membership Interests to Purchaser as contemplated by this
Agreement (the “Closing”) are subject to the satisfaction or waiver by the applicable Party of each of the following
conditions:

 

(a)          
Delivery and Execution of Documents. Each of the Parties shall have received a fully executed, complete, and correct
copy of the Assignment and Assumption Agreement.

 

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

 

    	 	13	 

     

    

 

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

 

(d)          
Payment of Purchase Price. Purchaser shall pay or shall cause to be paid the Purchase Price in immediately available
funds applied in accordance with a funds flow memorandum agreed to between the Purchaser and the Seller.

 

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

 

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

 

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

 

(h)          
Certificates; Other Ancillary Documents. The Seller shall have delivered to the Purchaser (i) a certificate,
dated the Closing Date and executed by an authorized officer or board member of the Seller substantially in the form and to the
effect of Exhibit A, and (ii) a certificate, dated the Closing Date and executed by the Secretary of the Seller
substantially in the form and to the effect of Exhibit B. The Purchaser shall have delivered to the Seller (x) a
certificate, dated the Closing Date and executed by an authorized officer or board member of the Purchaser substantially in the
form and to the effect of Exhibit C, and (y) a certificate, dated the Closing Date and executed by the Secretary
of the Purchaser substantially in the form and to the effect of Exhibit D.

 

(i)            
Delivery of Certificated Interests. The Seller shall have delivered to the Purchaser certificates representing the
Class B Membership Interests, duly endorsed for transfer to Purchaser or accompanied by one or more membership interest powers
duly endorsed for transfer to Purchaser.

 

    	 	14	 

     

    

 

(j)            
[***] Acquisition. The closing of the [***] Acquisition shall have occurred.

 

(k)          
[***].

 

Article
5

Certain Covenants

 

5.01.       
Regulatory and Other Permits.
Seller shall, as promptly as practicable, use commercially reasonable efforts to make all filings with all Governmental Authorities
and other Persons required by Seller or its Affiliates to consummate the transactions contemplated hereby and shall use commercially
reasonable efforts to obtain as promptly as practicable all Permits and all consents, approvals or actions of all Governmental
Authorities and other Persons necessary to consummate the transactions contemplated hereby, including the Seller Approvals and
Seller Consents. Seller shall promptly provide Purchaser with a copy of any filing, order or other document delivered to or received
from any Governmental Authority or other Person relating to the obtaining of any such Permits, consents, approvals, or actions
of Governmental Authorities and other Persons. Seller shall provide a status report to Purchaser upon the reasonable request of
Purchaser. Purchaser shall use commercially reasonable efforts not to cause its Representatives, or the Company, the Repowering
Entities or other Affiliates of Purchaser or any of their respective Representatives, to take any action which would reasonably
be expected to materially and adversely affect the likelihood of any approval or consent required to consummate the transactions
contemplated hereby. Seller shall bear its own costs and legal fees contemplated by this Section 5.01.

 

5.02.       
Fulfillment of Conditions. Each
Party shall take all commercially reasonable steps necessary or desirable, and proceed diligently and in good faith to satisfy
each other condition to the obligations of the other Party contained in this Agreement.

 

5.03.       
Further Assurances. From the
Execution Date and continuing until the earlier of the termination of this Agreement or the Closing Date, each Party shall use
its commercially reasonable efforts to execute and deliver, or cause to be executed and delivered, all such documents and instruments
and shall take, or cause to be taken, all such further or other actions as may be necessary to consummate the transactions contemplated
by this Agreement, including such actions at its expense as are necessary in connection with obtaining any third-party consents
and all Governmental Approvals required to be obtained by Seller. From the Execution Date and continuing until the earlier of the
termination of this Agreement or the Closing Date, each Party shall cooperate with the other Party and provide any information
regarding such Party necessary to assist the other Party in making any filings or applications required to be made with any Governmental
Authority. Notwithstanding anything to the contrary contained in this Section 5.03, if the Parties are in an adversarial
relationship in litigation or arbitration, the furnishing of any documents or information in accordance herewith shall be solely
subject to applicable rules relating to discovery and the remainder of this Section 5.03 shall not apply.

 

5.04.       
Notice of Transfer. The Parties
hereby agree to waive all requirements set forth in Section 9.3 of the LLCA with respect to the transfer of the Class B Membership
Interests.

 

    	 	15	 

     

    

 

5.05.       
[***].

 

Article
6

Indemnification

 

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

 

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

 

6.03.       
Survival of Representations, Warranties, Covenants and Agreements.
The representations, warranties, covenants, agreements and obligations of Seller and Purchaser contained in this Agreement are
material, were relied on by such Parties, and will survive the Closing Date as provided in this Section 6.03. No claim
under this Agreement (except as provided below) may be made unless such Party shall have delivered, with respect to any claim under
Section 6.01, a written notice of claim prior to the date [***].

 

6.04.       
Limitations on Claims. 

 

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

 

(b)          
Neither Party shall have any obligation to indemnify the other Indemnified Party in connection with any single item or group of
related items that result in Losses that are subject to indemnification in the aggregate of less than [***].

 

(c)          
The aggregate liability of the Seller Indemnifying Parties and the Purchaser Indemnifying Parties under this Article 6 resulting
from any claims under any breaches of representations or warranties herein and in any certificates delivered pursuant hereto, shall
be limited to an amount equal to [***] of the Purchase Price (the “Cap”);
provided that, the Cap shall not apply to Losses resulting from, arising out of or relating to [***].

 

    	 	16	 

     

    

 

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

 

6.05.       
Procedure for Indemnification of Third Party Claims.

 

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

 

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

 

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

 

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

 

    	 	17	 

     

    

 

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

 

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

 

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

 

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

 

    	 	18	 

     

    

 

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

 

6.09.       
Mitigations.

 

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

 

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

 

6.10.       
No Solicitation. Seller
shall not, and shall not authorize or permit any of its Affiliates or any of its Representatives to, directly or indirectly, (i)
encourage, solicit, initiate, facilitate or continue inquiries regarding an Acquisition Proposal, (ii) enter into discussions
or negotiations with, or provide any information to, any Person concerning a possible Acquisition Proposal or (iii) enter into
any agreements or other instruments (whether or not binding) regarding an Acquisition Proposal. Seller shall immediately cease
and cause to be terminated, and shall cause any of its Affiliates and all of its Representatives to immediately cease and cause
to be terminated, all existing discussions or negotiations with any Persons conducted heretofore with respect to, or that could
lead to, an Acquisition Proposal. For purposes hereof, “Acquisition Proposal” shall mean any inquiry, proposal or
offer from any Person concerning (a) a merger, consolidation, liquidation, recapitalization, share exchange or other business
combination transaction involving the Company, (b) the issuance or acquisition of equity securities of the Company, or (c) the
sale, lease, exchange or other disposition of any significant portion of the Company’s properties or assets.

 

Article
7

 TERMINATION

 

7.01.       
Termination. This Agreement
may be terminated at any time prior to the Closing Date as follows:

 

(a)          
by mutual written consent of the Seller and the Purchaser;

 

(b)          
by Purchaser if there has been a breach by Seller of any representation, warranty, covenant or agreement contained in this Agreement
which (i) would result in a failure of a condition set forth in Section 4.01, and (ii) such breach has not been cured
within thirty (30) days following written notification thereof; provided, however, that if, at the end of such thirty (30)
day period, Seller is endeavoring in good faith, and proceeding diligently, to cure such breach, Seller shall have an additional
thirty (30) days in which to effect such cure; and

 

    	 	19	 

     

    

 

(c)          
by Seller if there has been a breach by Purchaser of any representation, warranty, covenant or agreement contained in this Agreement
which (i) would result in a failure of a condition set forth in Section 4.01, and (ii) such breach has not been cured
within 30 days following written notification thereof; provided, however, that if, at the end of such thirty (30)
day period, Purchaser is endeavoring in good faith, and proceeding diligently, to cure such breach, Purchaser shall have an additional
thirty (30) days in which to effect such cure. 

 

7.02.       
Effect of Termination. If this
Agreement is validly terminated pursuant to Section 7.01, this Agreement will forthwith become null and void, and there
will be no liability or obligation on the part of either Purchaser or Seller (or any of their respective Representatives or Affiliates)
in respect of this Agreement, except that the applicable portions of this Section 7.02, and the entirety of Article
6 and Article 8 will continue to apply following any termination; provided, however, that nothing in this
Section 7.02 shall release any Party from liability for any breach of this Agreement by such Party prior to the termination
of this Agreement (and any attempted termination by the breaching Party shall be void).

 

Article
8

GENERAL PROVISIONS

 

8.01.       
Notices.  All notices,
requests and other communications hereunder must be in writing and will be deemed to have been duly given only if delivered personally,
by reputable national overnight courier service or by registered or certified mail (postage prepaid) or by email transmission confirmed
by telephone conversation (recorded message is not sufficient), to the Parties at the following addresses or email addresses, as
applicable:

 

		If
                            to Purchaser, to:	Wind TE Holdco LLC

804 Carnegie Center

Princeton, NJ 08540

Attention: Kevin Malcarney

Email:
Kevin.Malcarney@clearwayenergy.com

 

		With a copy to:	Crowell & Moring LLP

1001 Pennsylvania
Avenue, N.W.

Washington,
D.C. 20004-2595

Attn: Patrick W. Lynch

Email: plynch@crowell.com

 

		If to Seller, to:	[***]

 

Notices, requests and other communications
will be deemed given upon the first to occur of such item having been (a) delivered personally (or refusal of delivery) to
the address provided in this Section 8.01, (b) if delivered by email transmission to the email address provided
in this Section 8.1, when receipt of transmission has been orally confirmed by the sending Party, or (c) delivered
(or refusal of such delivery) by registered or certified mail (postage prepaid) or by reputable national overnight courier service
in the manner described above to the address provided in this Section 8.01 (in each case regardless of whether such
notice, request or other communication is received by any other Person to whom a copy of such notice, request or other communication
is to be delivered pursuant to this Section 8.01). Any Party from time to time may change its address, email address
or other information for the purpose of notices to that Party by giving notice specifying such change to the other Party.

 

    	 	20	 

     

    

 

8.02.       
Entire Agreement. This Agreement
and the documents referenced herein supersede all prior discussions and agreements, whether oral or written, between the Parties
with respect to the subject matter hereof, and contain the entire agreement between the Parties with respect to the subject matter
hereof. 

 

8.03.       
Specific Performance. The Parties
to this Agreement agree that if any of the provisions of this Agreement were not performed in accordance with their specific terms
or were otherwise breached, irreparable damage would occur and money damages may not be a sufficient remedy. In addition to any
other remedy at law or in equity, each of Purchaser and Seller shall be entitled to specific performance by the other Party of
its obligations under this Agreement and immediate injunctive relief, without the necessity of proving the inadequacy of money
damages as a remedy.

 

8.04.       
Time of the Essence. Time is
of the essence with regard to all duties and time periods set forth in this Agreement.

 

8.05.       
Expenses. Except as otherwise
expressly provided in this Agreement, whether or not the transactions contemplated hereby are consummated, each Party will pay
its own costs and expenses incurred in connection with the negotiation, execution and performance of this Agreement.

 

8.06.       
Confidentiality; Disclosures.
Neither Seller, Purchaser nor any of their Affiliates shall make any written or other public disclosures regarding this Agreement
or the transactions contemplated hereby without the prior written consent of the other Party, except as required by law, any regulatory
authority or under the applicable rules and regulations of a stock exchange or market on which the securities of the disclosing
Party or any of its affiliates are listed.

 

8.07.       
Waiver. Any term or condition
of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective
unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term or condition and delivered
pursuant to Section 8.01. No waiver by any Party of any term or condition of this Agreement, in any one or more instances,
shall be deemed to be or construed as a waiver of the same or any other term or condition of this Agreement on any future occasion.
All remedies, either under this Agreement or by Law or otherwise afforded, will be cumulative and not alternative.

 

8.08.       
Amendment. This Agreement may
be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each Party.

 

8.09.       
No Third Party Beneficiary.
The terms and provisions of this Agreement are intended solely for the benefit of each Party and their respective successors or
permitted assigns, and it is not the intention of the Parties to confer third party beneficiary rights upon any other Person other
than any Person entitled to indemnity under Article 6.

 

    	 	21	 

     

    

 

8.10.       
Assignment. The obligations
of the Parties under this Agreement are not assignable without the prior written consent of the other Party, which such Party may
withhold in its discretion; provided, that Purchaser may assign this Agreement, including the right to purchase the Class
B Membership Interests, without the prior written consent of Seller, to (a) any Affiliate of Purchaser, or (b) any financial
institution providing purchase money or other financing to Purchaser from time to time as collateral security for such financing,
in each case so long as  Purchaser remains fully liable for its obligations under this Agreement.

 

8.11.       
Severability. If any provision
of this Agreement is held to be illegal, invalid or unenforceable under any present or future Law, and if the rights or obligations
of any Party under this Agreement shall not be materially and adversely affected thereby, (a) such provision shall be fully
severable, (b) this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never
comprised a part hereof, and (c) the remaining provisions of this Agreement shall remain in full force and effect and shall
not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom. 

 

8.12.       
Governing Law. THIS AGREEMENT
SHALL BE GOVERNED IN ALL RESPECTS BY THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES
THEREOF EXCEPT FOR SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

 

8.13.       
Consent to Jurisdiction. 

 

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

 

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

 

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

 

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

 

Each
Party hereto irrevocably consents to service of process by registered mail, return receipt requested, as provided in Section 8.01.
Nothing in this Agreement will affect the right of any Party hereto to serve process in any other manner permitted by Law.

 

    	 	22	 

     

    

 

8.14.       
Waiver of Jury Trial. TO THE
FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY LEGAL ACTION TO ENFORCE OR INTERPRET
THE PROVISIONS OF THIS AGREEMENT OR THAT OTHERWISE RELATES TO THIS AGREEMENT.

 

8.15.       
Limitation on Certain Damages.
NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, NO PARTY SHALL BE LIABLE TO ANY OTHER PARTY FOR ANY CONSEQUENTIAL,
SPECIAL, INDIRECT, SPECULATIVE, EXEMPLARY, OR PUNITIVE DAMAGES (COLLECTIVELY, “CONSEQUENTIAL DAMAGES”) FOR ANY
REASON WITH RESPECT TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT, WHETHER BASED ON STATUTE, CONTRACT, TORT OR OTHERWISE
AND WHETHER OR NOT ARISING FROM THE OTHER PARTY’S SOLE, JOINT OR CONCURRENT NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT;
PROVIDED, HOWEVER, THAT ANY LOSSES ARISING OUT OF THIRD PARTY CLAIMS FOR WHICH A PARTY IS ENTITLED TO INDEMNIFICATION UNDER THIS
AGREEMENT SHALL NOT CONSTITUTE CONSEQUENTIAL DAMAGES. FOR THE AVOIDANCE OF DOUBT, AN ACTION FOR THE PAYMENT OF THE PURCHASE PRICE
SHALL NOT BE CONSIDERED CONSEQUENTIAL DAMAGES. 

 

8.16.       
Disclosures. Seller or Purchaser
may, at its option, include in the Disclosure Schedules items that are not material in order to avoid any misunderstanding, and
any such inclusion, or any references to dollar amounts, shall not be deemed to be an acknowledgment or representation that such
items are material, to establish any standard of materiality or to define further the meaning of such terms for purposes of this
Agreement. In no event shall the inclusion of any matter in the Disclosure Schedules be deemed or interpreted to broaden Seller’s
or Purchaser’s representations, warranties, covenants or agreements contained in this Agreement. The mere inclusion of an
item in the Disclosure Schedules shall not be deemed an admission by Seller or Purchaser that such item represents a material exception
or fact, event, or circumstance.

 

8.17.       
Facsimile Signature; Counterparts.
This Agreement may be executed by facsimile signature in any number of counterparts, each of which will be deemed an
original, but all of which together will constitute one and the same instrument.

 

[Signature
pages follow]

 

    	 	23	 

     

    

 

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

 

	 	Seller:
	 	 
	 	CWSP WILDORADO ELBOW HOLDING LLC,
	 	a Delaware limited liability company
	 	 	 
	 	 	 
	 	By:  	/s/ Craig Cornelius
	 	 	Name: Craig Cornelius
	 	 	Title:   President
	 	 	 
	 	 	 
	 	Purchaser:
	 	 	 
	 	WIND TE HOLDCO LLC, 
	 	a Delaware limited liability company
	 	 	 
	 	 	 
	 	By:	/s/ Christopher S. Sotos
	 	 	Name: Christopher S. Sotos
	 	 	Title:   PresidentExhibit 10.4

 

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

 

LIMITED LIABILITY COMPANY AGREEMENT

 

OF

 

PINNACLE REPOWERING PARTNERSHIP LLC

 

a Delaware Limited Liability Company

 

Dated as of April 17, 2020

 

THE SECURITIES (MEMBERSHIP INTERESTS)
REPRESENTED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR REGISTERED OR QUALIFIED UNDER ANY SECURITIES
OR BLUE SKY LAWS OF ANY STATE OR JURISDICTION. THEREFORE, THE SECURITIES MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE
TRANSFERRED UNTIL A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR THE APPLICABLE STATE SECURITIES OR BLUE SKY LAWS SHALL HAVE
BECOME EFFECTIVE WITH REGARD TO THE PROPOSED TRANSFER, OR UNLESS REGISTRATION OR QUALIFICATION UNDER THE SECURITIES ACT OR BLUE
SKY LAWS IS NOT REQUIRED IN CONNECTION WITH THE PROPOSED TRANSFER.

 

     

     

    

 

LIMITED LIABILITY COMPANY AGREEMENT

OF

PINNACLE REPOWERING PARTNERSHIP LLC

 

TABLE OF CONTENTS

 

	ARTICLE 1 DEFINITIONS	2
	 	 	 
	Section 1.1	Certain Definitions.	2
	 	 	 
	Section 1.2	Other Definitional Provisions.	17
	 	 	 
	ARTICLE 2 THE COMPANY	18
	 	 	 
	Section 2.1	Organization of Limited Liability Company.	18
	 	 	 
	Section 2.2	Name.	18
	 	 	 
	Section 2.3	Principal Office.	18
	 	 	 
	Section 2.4	Registered Office; Registered Agent.	18
	 	 	 
	Section 2.5	Purposes.	19
	 	 	 
	Section 2.6	Term.	19
	 	 	 
	Section 2.7	Title to Property.	19
	 	 	 
	Section 2.8	Units; Certificates of Membership Interest; Applicability of Article 8 of UCC.	19
	 	 	 
	Section 2.9	No Partnership.	19
	 	 	 
	ARTICLE 3 CAPITAL CONTRIBUTIONS; CREDIT SUPPORT	20
	 	 	 
	Section 3.1	Class A Interest.	20
	 	 	 
	Section 3.2	Class B Interest.	20
	 	 	 
	Section 3.3	Other Required Capital Contributions; Credit Support.	20
	 	 	 
	Section 3.4	Member Loans.	22
	 	 	 
	Section 3.5	Support Obligations.	22
	 	 	 
	Section 3.6	Obligations Under Tax Equity Documents	23
	 	 	 
	Section 3.7	No Right to Return of Capital Contributions.	23

 

	Section 3.8	[***]	23
	 	 	 
	ARTICLE 4 CAPITAL ACCOUNTS; ALLOCATIONS	23
	 	 	 
	Section 4.1	Capital Accounts.	23
	 	 	 
	Section 4.2	Allocations.	24
	 	 	 
	Section 4.3	Adjustments.	24
	 	 	 
	Section 4.4	Tax Allocations.	26

 

    	

     

    

 

	Section 4.5	Other Allocation Rules.	27
	 	 	 
	ARTICLE 5 DISTRIBUTIONS	27
	 	 	 
	Section 5.1	Distributions of Available Cash Flow.	27
	 	 	 
	Section 5.2	Limitation.	28
	 	 	 
	Section 5.3	Withholding.	28
	 	 	 
	ARTICLE 6 MANAGEMENT	29
	 	 	 
	Section 6.1	Manager.	29
	 	 	 
	Section 6.2	Standard of Care; Required Consents.	33
	 	 	 
	Section 6.3	Removal and Election of Manager.	38
	 	 	 
	Section 6.4	Indemnification and Exculpation.	39
	 	 	 
	Section 6.5	Company Reimbursement; Fund Formation Expenses.	39
	 	 	 
	Section 6.6	Officers.	39
	 	 	 
	Section 6.7	Approved Budgets.	40
	 	 	 
	ARTICLE 7 RIGHTS AND RESPONSIBILITIES OF MEMBERS	41
	 	 	 
	Section 7.1	General.	41
	 	 	 
	Section 7.2	Member Consent.	41
	 	 	 
	Section 7.3	Member Liability.	41
	 	 	 
	Section 7.4	Withdrawal.	42
	 	 	 
	Section 7.5	Member Compensation.	42

 

	Section 7.6	Other Ventures.	42
	 	 	 
	Section 7.7	Confidential Information.	43
	 	 	 
	Section 7.8	Company Property.	45
	 	 	 
	ARTICLE 8 ADMINISTRATIVE AND TAX MATTERS	45
	 	 	 
	Section 8.1	Intent for Income Tax Purposes.	45
	 	 	 
	Section 8.2	Books and Records; Bank Accounts; Company Procedures.	45
	 	 	 
	Section 8.3	Information and Access Rights.	47
	 	 	 
	Section 8.4	Reports.	47
	 	 	 
	Section 8.5	Permitted Investments.	48
	 	 	 
	Section 8.6	Tax Elections.	49
	 	 	 
	Section 8.7	Partnership Representative and Company Tax Filings.	49
	 	 	 
	Section 8.8	Financial Accounting.	51

 

    	

     

    

 

	Section 8.9	Membership Interest Legend.	51
	 	 	 
	Section 8.10	Representations, Warranties and Covenants of the Members.	52
	 	 	 
	Section 8.11	Survival.	53
	 	 	 
	ARTICLE 9 TRANSFERS OF INTERESTS; PURCHASE OPTION	53
	 	 	 
	Section 9.1	Transfer Restrictions.	53
	 	 	 
	Section 9.2	Permitted Transfers.	53
	 	 	 
	Section 9.3	Conditions to Transfers.	54
	 	 	 
	Section 9.4	Encumbrances of Membership Interest.	55
	 	 	 
	Section 9.5	Admission of Transferee as a Member.	55
	 	 	 
	Section 9.6	[***].	56
	 	 	 
	Section 9.7	Terminated Member.	56
	 	 	 
	Section 9.8	Class B Member Matters.	56

 

	ARTICLE 10 [RESERVED]	56
	 	 	 
	ARTICLE 11 Indemnification	57
	 	 	 
	Section 11.1	Indemnification.	57
	 	 	 
	Section 11.2	Procedure for Indemnification.	58
	 	 	 
	Section 11.3	Exclusivity.	58
	 	 	 
	Section 11.4	No Right of Contribution.	58
	 	 	 
	Section 11.5	Limitation on Liability.	58
	 	 	 
	Section 11.6	Entire Agreement.	59
	 	 	 
	ARTICLE 12 DISSOLUTION, LIQUIDATION AND TERMINATION	59
	 	 	 
	Section 12.1	Dissolution.	59
	 	 	 
	Section 12.2	Liquidation and Termination.	59
	 	 	 
	Section 12.3	Deficit Capital Accounts.	60
	 	 	 
	Section 12.4	Termination.	61
	 	 	 
	ARTICLE 13 GENERAL PROVISIONS	61
	 	 	 
	Section 13.1	Offset.	61
	 	 	 
	Section 13.2	Notices.	61
	 	 	 
	Section 13.3	Counterparts.	62
	 	 	 
	Section 13.4	Governing Law and Severability.	62

 

	Section 13.5	Entire Agreement.	62

 

    	

     

    

 

	Section 13.6	Effect of Waiver or Consent.	62
	 	 	 
	Section 13.7	Amendment or Modification.	62
	 	 	 
	Section 13.8	Binding Effect.	62
	 	 	 
	Section 13.9	Further Assurances.	62
	 	 	 
	Section 13.10	Jurisdiction.	63
	 	 	 
	Section 13.11	LIMITATION ON LIABILITY.	63

 

    	

     

    

 

ANNEXES, SCHEDULES AND EXHIBITS:

 

[***]

 

     

     

    

 

LIMITED LIABILITY COMPANY AGREEMENT

OF

PINNACLE REPOWERING PARTNERSHIP LLC

 

THIS LIMITED LIABILITY
COMPANY AGREEMENT OF PINNACLE REPOWERING PARTNERSHIP LLC, dated as of April 27, 2020 (this “Agreement”),
is made and entered into by and between CWEN Pinnacle Repowering Holdco LLC, a Delaware limited liability company (the “Initial
Class A Member”), as a Class A Member, and CWSP Pinnacle Holding LLC, a Delaware limited liability company
(the “Initial Class B Member”), as a Class B Member. Capitalized terms used herein shall have the
meanings assigned to them in Section 1.1 hereof.

 

RECITALS

 

A.            PINNACLE
REPOWERING PARTNERSHIP LLC, a Delaware limited liability company (the “Company”), was formed pursuant to the
Act on February 7, 2020, by virtue of its Certificate of Formation (the “Delaware Certificate”) filed with
the Secretary of State of the State of Delaware.

 

B.            The
Company owns 100% of the equity interests in Pinnacle Repowering Partnership Holdco, LLC, a Delaware limited liability company
(“Borrower”).

 

C.            The
Borrower owns 100% of the equity interests in Pinnacle Repowering Tax Equity Holdco LLC (“Pinnacle Holdco”),
a Delaware limited liability company.

 

D.            The
Initial Class A Member owns 100% of the equity interests in Tapestry Wind, LLC, a Delaware limited liability company (“Tapestry
Wind”), which owns 100% of the equity interests in Pinnacle Wind, LLC, a Delaware limited liability company (“Pinnacle
Project Company”), which owns, operates and maintains a wind project generating facility described herein as the Pinnacle
Project.

 

E.            The
Company, through its subsidiaries, intends to repower the Pinnacle Project.

 

F.            The
Borrower plans to arrange the Repowering Construction Financing for the Pinnacle Project secured by all of the assets of the Borrower,
including the Pinnacle Project and the Safe Harbor Equipment. The proceeds of the Repowering Construction Financing will be used
to finance the development, construction and repowering of the Pinnacle Project.

 

G.            The
Borrower expects to enter into a tax equity financing with one or more tax equity investors (collectively, the “Tax Equity
Investor”), pursuant to which, on the Tax Equity Funding Date, the Borrower shall sell a portion of its equity in Pinnacle
Holdco to the Tax Equity Investor, [***].

 

H.            The
Members desire to enter into this Agreement to describe their respective rights and obligations as members of the Company.

 

NOW, THEREFORE, in
consideration of the premises and the mutual undertakings contained herein, the parties hereto hereby agree, as follows:

 

     

     

    

 

ARTICLE 1

DEFINITIONS

 

Section 1.1     Certain
Definitions.

 

The following initially
capitalized terms, as and when used in this Agreement, shall have meanings set forth below:

 

“Act”
means the Delaware Limited Liability Company Act, 6 Del. Code §§18-101 et seq., as amended from time to time, and any
successor to such statutes.

 

“Additional
Repowering Project Document” means, collectively, any Contract (or series of related Contracts) entered into by the Company
or Pinnacle Project Company or any other subsidiary of the Company subsequent to the Effective Date.

 

“Adjusted
Capital Account Deficit” means, with respect to any Member, the deficit balance, if any, in the Capital Account established
and maintained for such Member, as the same is specially computed as of the end of the Taxable Year after giving effect to the
following adjustments:

 

(a)            Credit
to such Member’s Capital Account any amounts (including unpaid Capital Contributions expected to be paid by the end of the
relevant tax year) which such Member is obligated to contribute to the Company or to restore pursuant to Section 12.3 of this
Agreement or is deemed obligated to restore pursuant to the penultimate sentences in Treasury Regulations Sections 1.704 2(g)(1) and
1.704 2(i)(5), and

 

(b)            Debit
to such Member’s Capital Account any items described in Treasury Regulations Sections 1.704 1(b)(2)(ii)(d)(4), (5) and
(6).

 

The foregoing definition
of Adjusted Capital Account Deficit is intended to comply with the provisions of Treasury Regulations Section 1.704 1(b)(2)(ii)(d) and
shall be interpreted consistently with the Treasury Regulations.

 

“Adjusted
Deficit Capital Account Balance” has the meaning set forth in Section 12.3(b).

 

“Adjusted
EBITDA” means EBITDA adjusted for mark-to-market gains or losses, asset write offs and impairments, and factors which
the Company does not consider indicative of future operating performance.

 

“Advisors”
is defined in Section 7.7(a).

 

“Affiliate” means,
with respect to any designated Person, any other Person that directly, or indirectly through one or more intermediaries,
Controls, or is Controlled by, or is under common Control with, such designated Person. Any Person shall be deemed to be an
Affiliate of any specified Person if such Person owns more than fifty percent (50%) of the voting securities of the specified
Person, if the specified Person owns more than fifty percent (50%) of the voting securities of such Person, or if more than
fifty percent (50%) of the voting securities of the specified Person and such Person are under common Control.
Notwithstanding anything to the contrary herein, the Class A Member and the Class B Member shall not be considered
Affiliates for purposes of this Agreement.

 

    	 	2	 

     

    

 

“After-Tax
Basis” means, with respect to any payment to be actually or constructively received by any Person, the amount of such
payment (the “base payment”) supplemented by a further payment (the “additional payment”) to that Person
so that the sum of the base payment plus the additional payment shall, after deduction of the amount of all federal income taxes
required to be paid by such Person (or, in the case of a Person that is either a disregarded entity, partnership or other through
entity for income tax purposes, the ultimate taxpayer(s) with respect to such entity) in respect of the receipt or accrual
of the base payment and the additional payment, using an assumed rate equal to the Highest Marginal Rate (and ignoring state and
local taxes), taking into account any federal income tax savings realized (or likely to be realized in the future as a result of
such base payment) by the recipient as a result of the payment or the event giving rise to the payment, using an assumed rate equal
to the Highest Marginal Rate, equals the amount required to be received.

 

“After-Tax
IRR” means, with respect to the Holder of a Class A Unit and at the time of any determination, the annual effective
discount rate (calculated and compounded on a daily basis using the Microsoft Excel XIRR function on all after tax cash flows)
which sets A equal to B, where A is the sum of (a) the present value of all Cash Distributions in respect of such Class A
Unit, plus (b) the present value of all Tax Benefits in respect of such Class A Unit, plus (c) the present value
of all indemnity payments (net of any tax gross-up payments) received in respect of such Class A Unit, that compensate for
loss of any item listed in the foregoing clauses (a) and (b), minus (d) the present value of all Tax Costs in respect
of such Class A Unit; and B is the present value of the Class A Investment.

 

“Agreement”
is defined in the introductory paragraph.

 

“Anti-Corruption
Laws” means (a) anti-bribery or anti-corruption Laws, including the U.S. Foreign Corrupt Practices Act of 1977,
as amended, and the U.K. Bribery Act 2010, and (b) Laws relating to financial record keeping and reporting, currency transfer
and money laundering, including, as applicable, the US PATRIOT Act of 2001 and all “know your customer” rules and
other applicable regulations.

 

“Approved
Budget” means the annual operating budget prepared and approved (or deemed approved) by the Members in accordance with
Section 6.7.

 

“Assets”
means all right, title and interest of a Person in land, properties, buildings, improvements, fixtures, foundations, assets and
rights of any kind, whether tangible or intangible, real, personal or mixed, including contracts, leases, easements, equipment,
systems, books, data, reports, studies and records, proprietary rights, intellectual property, Licenses and Permits, rights under
or pursuant to all warranties, representations and guarantees, cash, accounts receivable, deposits and prepaid expenses.

 

“Available
Cash Flow” means, with respect to any Distribution Date, the gross cash receipts from the operations of the Company (including
amounts received by the Company from the Pinnacle Project Company and any other subsidiaries of the Company, and including sales
and dispositions of Assets of the Company, the Pinnacle Project Company or any other subsidiary of the Company), insurance payments,
warranty payments, cash previously reserved, and all Capital Contributions received from Members during the period from the last
cash distribution to such Distribution Date, less the portion thereof used to pay, or establish reserves for, all expenses of the
Company and of the Pinnacle Project Company, including Company Reimbursable Expenses and the cost to develop and construct the
Pinnacle Project.

 

    	 	3	 

     

    

 

“Bankrupt”
means, with respect to any Person: (a) that such Person (i) files in any court pursuant to any statute of the United
States or of any state a voluntary petition in bankruptcy or insolvency, (ii) files a petition or answer seeking for such
Person a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any Law or the
appointment of a receiver or a trustee of all or a material portion of such Person’s Assets, (iii) makes a general assignment
for the benefit of creditors, (iv) becomes the subject of an order for relief or is declared insolvent in any federal or state
bankruptcy or insolvency proceedings, (v) files an answer or other pleading admitting or failing to contest the material allegations
of a petition filed against such Person in a proceeding of the type described in (i) through (iv), (vi)     admits
in writing its inability to pay its debts as they fall due, or (vii) seeks, consents to or acquiesces in the appointment of
a trustee, receiver or liquidator of any material portion of its Assets; or (b) a petition in bankruptcy or insolvency, or
a proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under
any Law has been commenced against such Person, and sixty (60) days have expired without dismissal thereof or with respect to which,
without such Person’s consent or acquiescence, a trustee, receiver, or liquidator of such Person or of all or any substantial
part of such Person’s properties has been appointed and sixty (60) days have expired without the appointment’s having
been vacated or stayed, or sixty (60) days have expired after the date of expiration of a stay, if the appointment has not previously
been vacated; or (c) if a Member, the whole or any material portion of such Person’s Membership Interest is levied or
attached, and such levy or attachment is not released or discharged within sixty (60) days.

 

“Base Case
Model” means the financial model attached as Exhibit A hereto.

 

“Borrower”
is defined in the recitals to this Agreement.

 

“Business
Day” means any day except Saturday, Sunday and any day that is a legal holiday in New York City or a day on which banking
institutions are authorized or required by Law or other government action to close in New York City.

 

“Capital Account”
means the capital account established and maintained for a Member pursuant to Section 4.1.

 

“Capital
Contribution” means any cash or the initial Value of any other property (net of liabilities secured by such
property that the Company is considered to assume or take subject to under Code Section 752) that a Member directly or
indirectly contributes to the Company with respect to the Units held or purchased by such Member, including any capital
contributions made by such Member pursuant to Article III hereof, and any reference to the Capital Contributions of a
Member shall include the Capital Contributions of any predecessor Holder of the Member’s Units.

 

“Cash Distributions”
means distributions to the Holder of Class A or Class B Units made on any Distribution Date or date of distribution of
liquidation proceeds (or to be made on the Distribution Date or date of distribution of liquidation proceeds as of which date the
After-Tax IRR is being determined).

 

“CAFD Yield”
means the Class A Member CAFD divided by the Class A Investment.

 

“Certified
Public Accountant” means a firm of independent public accountants (a) that is one of Ernst & Young, Deloitte &
Touche, PricewaterhouseCoopers or KPMG LLP, as selected from time to time by the Manager or (b) with respect to any other
firm, as selected from time to time with the Consent of the Members.

 

“Class A
Claim” is defined in Section 11.1(a).

 

“Class A
Distribution Percentage” means 90%, as may be adjusted on the Tax Equity Funding Date, in each case, as specified on
Exhibit D.

 

“Class A
DRO Amount” means $[***] on the Effective Date, and from and after the Effective Date means $[***] unless such amount
is increased by Consent of the Members.

 

    	 	4	 

     

    

 

“Class A
Interest” means, with respect to any Class A Member: (a) that Class A Member’s status as a Class A
Member; (b) that Class A Member’s share of Company Items and the right to receive distributions from the Company;
(c) all other rights, benefits and privileges enjoyed by that Class A Member (under the Act, this Agreement, or otherwise)
in its capacity as a Class A Member, including that Class A Member’s right to vote, consent and approve and otherwise
to participate in the management of the Company, to the extent provided in this Agreement; and (d) all obligations, duties
and liabilities imposed on that Class A Member (under the Act, this Agreement or otherwise) in its capacity as a Class A
Member, including any obligations to make Capital Contributions.

 

“Class A
Investment” means the Capital Contributions of the Class A Members, which for the avoidance of doubt shall take
into account (i) an increase for the Value of the Pinnacle Project when contributed as specified in Section 3.3, (ii) a
decrease for any distributions to the Class A Member from the Effective Date through the earlier of the Tax Equity Funding
Date or the Outside Tax Equity Funding Date and (iii) an increase for the Incremental Class A Investment.

 

“Class A
Member” means each Member holding a Class A Interest.

 

“Class A
Member After-Tax Cash-Flow” means, with respect to the Holder of a Class A Unit for a specified period, an
amount equal to (a) the Cash Distributions in respect of such Class A Unit, plus (b) the Tax Benefits in
respect of such Class A Unit, minus (c) all Tax Costs in respect of such Class A Unit, in each case as
projected in the Base Case Model.

 

[***]

 

“Class A
Member Guarantor” means Clearway Energy Operating LLC.

 

“Class A
Member Guaranty” means a guaranty substantially in the form attached hereto as Exhibit F made by the Class A
Member Guarantor.

 

“Class A
Party” is defined in Section 11.1(a).

 

“Class A
TE Guaranty” is defined in Section 3.3(f).

 

“Class A
TE Obligation” means an obligation of the Company, a Tax Equity Entity or the Pinnacle Project Company under a Tax Equity
Document that has arisen or has accrued (a) in respect of an event or circumstance that occurred prior to the Tax Equity Funding
Date (other than in connection with the repowering of the Pinnacle Project) or (b) as a result of a failure of the Class A
Member to make the Incremental Class A Investment.

 

“Class A
Unit” means a unit representing a Class A Interest having the rights, preferences and designations provided for
such class in this Agreement.

 

“Class B
Claim” is defined in Section 11.1(b).

 

“Class B
Distribution Percentage” means [***]% minus the Class A Distribution Percentage.

 

“Class B
DRO Amount” means $[***] on the Effective Date, and from and after the Effective Date means $[***] unless such amount
is increased by Consent of the Members.

 

    	 	5	 

     

    

 

“Class B
Interest” means, with respect to any Class B Member: (a) that Class B Member’s status as a Class B
Member; (b) that Class B Member’s share of Company Items, and the right to receive distributions from the Company;
(c) all other rights, benefits and privileges enjoyed by that Class B Member (under the Act, this Agreement, or otherwise)
in its capacity as a Class B Member, including that Class B Member’s right to vote, consent and approve and otherwise
to participate in the management of the Company to the extent provided in this Agreement; and (d) all obligations, duties
and liabilities imposed on that Class B Member (under the Act, this Agreement or otherwise) in its capacity as a Class B
Member, including any obligations to make Capital Contributions.

 

“Class B
Member” means each Member holding a Class B Interest.

 

[***]

 

[***]

 

“Class B
Party” is defined in Section 11.1(b).

 

“Class B
TE Obligation” means an obligation of the Company, a Tax Equity Entity or the Pinnacle Project Company under a Tax Equity
Document that has arisen or has accrued in respect of an event or circumstance in connection with the repowering of the Pinnacle
Project, other than as a result of a failure of the Class A Member to make the Incremental Class A Investment.

 

“Class B
Unit” means a unit representing a Class B Interest having the rights, preferences and designations provided for
such class in this Agreement.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time, and any corresponding provisions of any successor tax statute.

 

“Company”
is defined in the recitals to this Agreement.

 

“Company Items”
means the separate items of income, gain, loss, deduction and credit of the Company for purposes of subchapter K of the Code, as
determined for Capital Account maintenance purposes consistent with the principles of Treasury Regulations Section 1.704 1(b)(2)(iv).

 

“Company Minimum
Gain” has the meaning given the term “partnership minimum gain” set forth in Treasury Regulations Section 1.704
2(b)(2) and will be determined as provided in Treasury Regulations Section 1.704 2(d).

 

“Company Reimbursable
Expenses” means (a) all reasonable and documented Third Party costs and expenses incurred in the ordinary course
of business by the Manager on behalf of the Company in performing the duties hereunder or relating to the Company’s activities
and business, including all reasonable and documented costs and expenses incurred for legal, accounting and auditing fees paid
or payable to Third Parties in accordance with this Agreement, in each case, as provided for in the Approved Budget, but excluding
such costs and expenses attributable to (i) the gross negligence, willful misconduct or fraud of, or violation of Law by,
the Manager, (ii) the Manager’s failure to abide by the provisions of this Agreement that apply to the Manager, (iii) a
breach of this Agreement by the Member who owns or controls the Manager, or (iv) a breach by a Member or its Affiliate of
a Transaction Document to which such Member or its Affiliate is a party if such Member is, or is an Affiliate of, the Manager,
and (b) the costs of liquidation as described in Section 12.2(a).

 

    	 	6	 

     

    

 

“Competitor”
means any Person (other than Global Infrastructure Management LLC and its Affiliates) directly or indirectly engaged in owning,
managing, operating, maintaining or developing facilities utilizing wind power for the production of electricity for sale to others;
provided that a Person who is involved in owning, managing, developing, maintaining or operating such facilities solely as a result
of such Person, directly or through an Affiliate, making passive investments in such facilities shall not be considered a “Competitor”
hereunder so long as such Person certifies in a manner reasonably acceptable to the Class B Members that it has in place procedures
to prevent any Affiliate of such Person that is not a passive owner, manager, operator, maintenance provider or developer from
acquiring confidential information relating to its investment in the Company.

 

“Confidential
Information” is defined in Section 7.7(a).

 

“Consent of
the Class A Members” means the written consent or approval of the Class A Members who own in the aggregate
more than fifty percent (50%) of the Class A Units.

 

“Consent of
the Class B Members” means the written consent or approval of the Class B Members who own in the aggregate
more than fifty percent (50%) of the Class B Units.

 

“Consent of
the Members” means both the Consent of the Class A Members and the Consent of the Class B Members.

 

“Construction
Budget” means the construction budget (including sources and uses) to be agreed by the Members, and approved by the lenders,
in connection with the Repowering Construction Financing, as the same may be amended or modified in accordance with this Agreement.

 

“Construction
Class B Investment” is defined in Section 3.3(d).

 

“Contracts”
means contracts, agreements, leases, licenses, notes, indentures, obligations, reinsurance treaties, bonds, mortgages, instruments,
and other binding commitments, arrangements, undertakings and understandings (whether written or oral).

 

“Control”
and the terms “Controlled by” and “under common Control” mean the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership,
by contract, or otherwise.

 

“Credit Support
Obligations” means the terms in any Repowering Financing Document or Tax Equity Document or other agreements or arrangements
that would, in order to make such Repowering Financing Document or Tax Equity Document or other agreement or arrangement effective
or not to cause a default or potential default thereunder, require Members or their Affiliates to provide credit support to the
Company, the Pinnacle Project Company, any other subsidiary of the Company or any of their financing parties or in respect of any
other obligation of the Company, the Pinnacle Project Company or any other subsidiary of the Company, or any of their financing
parties through any equity contribution agreement, guarantee, standby letter of credit, cash collateral or similar arrangement.

 

“Damages”
is defined in Section 11.1(a).

 

“Deferred
Class A Investment” is defined in Section 3.3(e)(ii).

 

“Delaware
Certificate” is defined in the recitals to this Agreement.

 

    	 	7	 

     

    

 

“Depreciation” means,
for each Taxable Year, an amount equal to the depreciation, amortization (including pursuant to Code Sections 197 and 709) or
other cost recovery deduction allowable for federal income tax purposes with respect to an Asset for such period, except that
if the Value of any Asset differs from its adjusted basis for federal income tax purposes at the beginning of such period,
Depreciation shall be an amount which bears the same ratio to such beginning Value as the federal income tax depreciation,
amortization or other cost recovery deduction allowable for such Taxable Year bears to such beginning adjusted tax basis;
provided, however, that if such Asset has a zero beginning adjusted basis for such Taxable Year, Depreciation shall be
determined with reference to such beginning Value using any method selected by the Manager with the Consent of the
Members.

 

“Disqualified
Entity” means an entity that is referred to in Section 50(b)(3) or 50(b)(4) of the Code, provided, that
if any indirect owner owns its indirect interest through a taxable C corporation (as defined in the Code), but excluding any entity
that is a “tax exempt controlled entity” defined in Section 168(h)(6)(F)(iii) of the Code, then such Person
will not be deemed to be a Disqualified Entity.

 

“Disqualified
Transferee” means (a) any Person that is, or whose Affiliate is, then a party adverse in any pending or threatened
(in writing or other reasonably satisfactory evidence of such threat) action, suit or proceeding to the Company or any Member or
an Affiliate thereof, if the Company (with the Consent of the Members) or such Member (in its sole and absolute discretion), as
applicable, shall not have consented to the Transfer to such Person; provided, however, that any foreclosure upon any Membership
Interests pursuant to an Encumbrance permitted hereunder shall not be an action, suit or proceeding for the purposes of this clause
(a), (b) with respect to any Transfer of a Class A Interest, a Person that is, or whose Affiliate is, a Competitor, (c) a
Related Party or a Disqualified Entity, (d) a Person who is, or who is an Affiliate of any Person that is, then Bankrupt,
or (e) a Person who, or is an Affiliate of any Person who, is a Sanctioned Person, in each case, other than an existing Member.

 

“Distribution
Date” means each day that is five (5) Business Days following a distribution of cash to the Company from a subsidiary
of the Company; provided that there shall be at least one Distribution Date per month.

 

“EBITDA”
means earnings before interest, tax, depreciation and amortization of the Company.

 

“Effective
Date” means the date of this Agreement.

 

“Encumbrances”
means encumbrances, liens, pledges, charges, collateral assignments, options, mortgages, warrants, deeds of trust, security interests,
claims, restrictions (whether on voting, sale, transfer, disposition, or otherwise), assessments, easements, variances, purchase
rights, rights of first refusal, reservations, encroachments, irregularities, deficiencies, defaults, defects, adverse claims,
interests, and other matters of every type and description whatsoever, whether voluntary or involuntary, choate or inchoate or
imposed by Law, agreement (including any agreement to give any of the foregoing or any conditional sale or other title retention
agreement), understanding, or otherwise, and whether or not of record, impairing or affecting the title to real or personal property
(including membership interests), and “Encumber” means any action or inaction creating an Encumbrance.

 

“Energy Regulatory
Approvals” means any License and Permit issued by or filed with an Energy Regulatory Authority that is required to be
maintained by the Pinnacle Project or the Pinnacle Project Company.

 

    	 	8	 

     

    

 

“Energy Regulatory
Authority” a Governmental Authority with jurisdiction over public utilities, energy or any similar subject matter.

 

“Environmental
Law” means any Law imposing liability, standards or obligations of conduct concerning pollution or protection of human
health and safety (including the health and safety of workers under the U.S. Occupational Safety and Health Act of 1970 (29 U.S.C.
 §§ 651 et seq.)), flora and fauna, any Environmental Media, including (a) any Law relating to any actual or threatened
emission, discharge, release, manufacture, processing, distribution, use, treatment, storage, disposal, transport, or handling
of any hazardous waste (as defined by 42 U.S.C. § 6903(5)), hazardous substance (as defined by 42 U.S.C. § 9601(14)),
hazardous material (as defined by 49 U.S.C. § 5102(2)), toxic pollutant (as listed pursuant to 33 U.S.C. § 1317), or
pollutant or contaminant (as pollutant or contaminant is defined in 42 U.S.C. § 9601(33)), any oil (as defined by 33 U.S.C.
 § 2701(23)); and (b) the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. §§
9601 et seq.) (“CERCLA”), the Federal Water Pollution Control Act (33 U.S.C. §§ 1251 et seq.) and the Endangered
Species Act of 1973 (16 U.S.C. 1531 et seq.) with any amendments or reauthorization thereto or thereof, and any and all regulations
promulgated thereunder, and all analogous state and local counterparts or equivalents.

 

“ERISA”
is defined in Section 8.10(h).

 

“EWG”
means “exempt wholesale generator” as defined in Section 1262(6) of PUHCA and the implementing regulations
of FERC.

 

“Fair Market
Value” means, with respect to any Asset, the price at which the Asset would change hands between a willing buyer and
a willing seller, neither being under any compulsion to buy or to sell, and both having reasonable knowledge of the relevant facts,
and specifically with respect to the Pinnacle Project or any Membership Interest.

 

“FERC”
means the Federal Energy Regulatory Commission and any successor agency.

 

“Final Completion”
means the completion of all relevant construction milestones for the repowering of the Pinnacle Project under the Repowering
Project Documents, including completion of all performance testing and punch list items.

 

“Financing
Required Capital Contribution” means, with respect to any Member, any Subsequent Capital Contribution required from such
Member in accordance with the terms of the Repowering Financing Documents or the Tax Equity Documents in addition to the terms
of this Agreement, including (if applicable) in respect of the Construction Class B Investment, the Incremental Class A
Investment and the Incremental Class B Investment.

 

“Fiscal Quarter”
means the calendar quarters each ended March 31st, June 30th, September 30th and December 31st during each
Fiscal Year.

 

“Fiscal Year”
means (a) the period commencing on the Effective Date and ending on the immediately succeeding December 31, (b) any
subsequent calendar year, and (c) the final Fiscal Year of the Company shall end on the date on which the Company is terminated
under Article XII hereof.

 

“Funding Notice”
is defined in Section 3.4(a).

 

    	 	9	 

     

    

 

“GAAP”
means United States generally accepted accounting principles, as amended, consistently applied.

 

“Good Management
Standard” means that a Person will perform its management functions in good faith and in a manner it reasonably believes
to be in the best interests of the Company. Good Management Standard is not intended to be limited to a single set of practices,
methods and acts; provided, however, that under no circumstances shall the Good Management Standard be construed to allow a Person
to be held to a lesser standard than is required under applicable Law.

 

“Governmental
Authority” means any foreign, domestic, federal, territorial, state or local governmental authority, court, commission,
board, bureau, agency or instrumentality, or any regulatory, administrative or other department, agency, or any political or other
subdivision, department or branch of any of the foregoing, any Taxing Authority and any electric reliability organization, regional
transmission organization or independent system operator or any successor thereto.

 

“Highest Marginal
Rate” means, with respect to any Member, the then highest marginal federal income tax rate applicable to corporations.

 

“Holder”
means, as to a Class A Unit, the Class A Member holding such Class A Unit, and, as to a Class B Unit, the Class B
Member holding such Class B Unit.

 

“HSR Act”
means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

 

“Incremental
Class A Investment” is defined in Section 3.3(e)(i).

 

“Incremental
Class A Investment Cap” means $52,126,248.

 

“Incremental
Class B Investment” is defined in Section 3.3(e)(ii).

 

“Incremental
Class B Investment Cap” is defined in Section 3.3(e)(ii).

 

“Indebtedness” means
indebtedness for borrowed money and any lease of any property as lessee the obligations of which are required to be
classified or accounted for as a capital lease on the balance sheet of the applicable Person, off-balance sheet leases, but
expressly does not include short-term (i.e., less than one (1) year in maturity) trade payables incurred in the ordinary
course of business.

 

“Indemnified
Party” is defined in Section 11.1(b).

 

“Indemnifying
Member” is defined in Section 11.2.

 

“Indemnity
Claim” is defined in Section 11.1(b).

 

“Initial Class A
Member” means is defined in the introductory paragraph.

 

“Initial Class B
Member” means is defined in the introductory paragraph.

 

“Initial Capital
Contribution” means a Capital Contribution made on the Effective Date.

 

“Intent Notice”
is defined in is defined in Section 9.6(d).

 

    	 	10	 

     

    

 

“Investment
Documents” means this Agreement and any other documents entered into by the Company in connection with the Members acquiring
and maintaining their Membership Interests in the Company.

 

“Investment
Grade” means a credit rating of “BBB-” or higher by Standard & Poor’s, “Baa3”
or higher by Moody’s Investors Service or an equivalent rating by a nationally recognized rating agency.

 

“IRS”
means the Internal Revenue Service and any successor Governmental Authority.

 

“Issued Interest”
is defined in the recitals to this Agreement.

 

“Law”
means any applicable constitution, statute, law, ordinance, regulation, rate, ruling, order, judgment, legally binding guideline,
restriction, requirement, writ, injunction or decree that has been enacted, issued or promulgated by any Governmental Authority.

 

“Licenses
and Permits” means filings and registrations with, and licenses, permits, notices, approvals, grants, easements, exemptions,
variances and authorizations from, any Governmental Authority.

 

“Liquidating
Events” is defined in Section 12.1(a).

 

“Manager”
means the Person appointed by the Members pursuant to Article VI to manage the affairs of the Company and any other Person
hereafter appointed as a successor Manager of the Company as provided in Article VI. Pursuant to its appointment by the Members
in Section 6.1, the Initial Class A Member shall be the initial Manager of the Company.

 

“Master Services
Provider” means [***]. For purposes of this Agreement the Master Services Provider shall be considered an Affiliate of
the Class B Member but not an Affiliate of the Class A Member.

 

“Material
Adverse Effect” means any act, event, condition or circumstance that, individually or in the aggregate, is, or could
reasonably be expected to be, materially adverse to the business, earnings, Assets, liabilities (contingent or otherwise), results
of operations, prospects, condition (financial or otherwise) or properties of the Pinnacle Project Company or any other subsidiary
of the Company, or on the ability of the Pinnacle Project Company or any other subsidiary of the Company to timely perform any
of its respective obligations under any Transaction Document to which it is a party or the legality, validity, binding effect or
enforceability of any such Transaction Document.

 

“Member”
means any Person who executes the signature page of this Agreement as of the Effective Date or thereafter agrees to be bound
hereby and is admitted to the Company as a Member pursuant to this Agreement, excluding any Person that has ceased to be a Member.

 

“Member Loan”
is defined in Section 3.4(a).

 

“Member Nonrecourse
Debt” has the meaning given the term “partner nonrecourse debt” in Treasury Regulations Section 1.704
2(b)(4).

 

“Member Nonrecourse
Debt Minimum Gain” has the meaning given the term “partner nonrecourse debt minimum gain” set forth in Treasury
Regulations Section 1.704 2(i)(2), and will be computed as provided in Treasury Regulations Section 1.704 2(i)(3).

 

    	 	11	 

     

    

 

“Member Nonrecourse
Deductions” has the same meaning as the term “partner nonrecourse deductions” in Treasury Regulations Sections
1.704 2(i)(1) and 1.704 2(i)(2).

 

“Membership
Interest” means either the Class A Interest or the Class B Interest or both, as the context requires.

 

“MIPA”
is defined in the recitals to this Agreement.

 

“Moody’s”
means Moody’s Investor Service, or any successor entity.

 

“Nonrecourse
Deductions” has the meaning given to such term in Treasury Regulations Sections 1.704 2(b)(1) and 1.704 2(c).

 

“Nonrecourse
Liability” has the meaning given such term in Treasury Regulations Section 1.704 2(b)(3).

 

“Officers”
is defined in Section 6.4.

 

“Outside Admission
Date” is defined in Section 9.8.

 

“Partnership
Representative” is defined in Section 8.7(a).

 

“Party”
means the Class B Member, the Company or the Class A Member, as the context requires.

 

“Permitted
Investments” is defined in Section 8.5.

 

“Person”
means an individual, a corporation, a limited liability company, a partnership, an association, joint venture, a labor union, a
trust or any other entity or organization, including a Governmental Authority.

 

“Pinnacle
Holdco” is defined in the recitals to this Agreement.

 

“Pinnacle
Project” means the wind-powered electricity generation facility located in Mineral County, West Virginia, with a nameplate
rating of 53.7 MW, known as the “Pinnacle” project, including the turbines and related equipment, buildings, collection
lines, substation, and other improvements related thereto.

 

“Pinnacle
Project Company” is defined in the recitals to this Agreement.

 

“Posting Notice”
is defined in Section 3.5(a).

 

“Preliminary
Intent Notice” is defined in is defined in Section 9.6(d).

 

“Pre-Tax IRR”
means, with respect to the Holder of a Class A Unit and at the time of any determination, the annual effective discount rate
(calculated and compounded on a daily basis using the Microsoft Excel XIRR function on all pre-tax cash flows) which sets A equal
to B, where A is the sum of (a) the present value of all Cash Distributions in respect of such Class A Unit, plus (b) the
present value of all indemnity payments received in respect of such Class A Unit, that compensate for loss of any item listed
in the foregoing clauses (a) and (b); and B is the present value of (a) the Class A Investment and (b) the
Deferred Class A Investment.

 

    	 	12	 

     

    

 

“PTCs”
mean the renewable energy production tax credits provided for pursuant to Section 45 of the Code.

 

“PUHCA”
means the Public Utility Holding Company Act of 2005, 42 U.S.C. §§ 16451, et seq. and the regulations of the FERC thereunder
at 18 C.F.R. §§ 366.1, et seq.

 

“Purchase
Option” is defined in Section 9.6.

 

“Purchase
Option Period” is defined in Section 9.6(a).

 

“Purchase
Option Price” is defined in Section 9.6(a).

 

“Qualified
Transferee” means a nationally recognized Person (or a direct or indirect subsidiary of a Person): (a) that,
with respect to an Encumbrance on a Class B Unit, (i) owns and manages or operates (before giving effect to any
Transfer hereunder) not less than [***] of wind projects in the United States (excluding the Pinnacle Project), and such
Person (or such Person’s direct or indirect Parent) must have done so for a period of [***] prior to the Transfer or
(ii) engages a Person (at its own cost and expense) meeting the qualifications of clause (i) above to act as a
non-member manager hereunder, and (b) that (i) has a credit rating of [***], and such parent provides a guaranty in
favor of the Members not party to such Encumbrance, in form and substance reasonably acceptable to such Members.

 

“RECs”
means any credits, credit certificates, green tags or similar environmental or green energy attributes (such as those for greenhouse
reduction or the generation of green power or renewable energy) created by a Governmental Authority or independent certification
board or group generally recognized in the electric power generation industry, and generated by or associated with the Pinnacle
Project or electricity produced therefrom, but excluding PTCs or any other tax benefits.

 

“Reference
Rate” means the rate of interest published in The Wall Street Journal as the prime lending rate or “prime rate”,
with adjustments in that varying rate to be made on the same date as any change in that rate is so published.

 

“Register”
is defined in Section 2.8.

 

“Regulatory
Allocations” is defined in Section 4.3(i).

 

“Related Party(ies)”
means any Person who is considered for federal income tax purposes to be purchasing electricity generated by the Pinnacle Project
Company and who is related to the Pinnacle Project Company within the meaning of Section 267(b) or Section 707(b) of
the Code or any successor provision, but excluding any Person that so purchases electricity generated by the Pinnacle Project Company
to the extent such Person resells the electricity to another Person who is not related to the Pinnacle Project Company within the
meaning of Section 267(b) or Section 707(b) of the Code or any successor provision.

 

“Repowering
Capital Contribution” means the Incremental Class A Investment, plus the Deferred Class A Investment plus the
Incremental Class B Investment.

 

“Repowering
Construction Contract” means one or more engineering, procurement, construction, balance of plant or similar contracts
for the repowering of the Pinnacle Project providing a scope of supply and work no otherwise provided under the Repowering TSA.

 

    	 	13	 

     

    

 

“Repowering
Construction Financing” means one or more construction financing facilities that the Borrower intends to raise secured
by all of the assets of the Borrower, the proceeds of which will be used to finance the development, construction and repowering
of the Pinnacle Project using the Safe Harbor Equipment and to fund the Tapestry Repayment Amount.

 

“Repowering
Financing Documents” means, collectively, the definitive financing and security documents, executed and delivered in
connection with the Repowering Construction Financing.

 

“Repowering
Project Documents” means the Repowering TSA, Repowering Construction Contract, the agreements listed on Exhibit E
and the Additional Repowering Project Documents.

 

“Repowering
TSA” means [***].

 

“Representatives”
is defined in Section 7.7(a).

 

“S&P”
means Standard & Poor’s Ratings Group, a division of McGraw Hill, Inc., or any successor entity.

 

“Safe Harbor
Equipment” means the equipment described on Annex II.

 

“Sanctioned
Country” means, at any time, a country or territory which is itself the subject or target of any Sanctions.

 

“Sanctioned
Person” means, at any time, (a) any Person listed in any Sanctions related list of designated Persons maintained
by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, the United Nations
Security Council, the European Union or any European Union member state, (b) any Person operating, organized or resident in
a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons.

 

“Sanctions”
mean (a) all U.S. and applicable international economic and trade sanctions and embargoes, including any sanctions or regulations
administered and enforced by the U.S. Department of State, the U.S. Department of the Treasury (including the Office of Foreign
Assets Control) and any executive orders, rules and regulations relating thereto, (b) all applicable Laws concerning
exportation, including rules and regulations administered by the U.S. Department of Commerce, the U.S. Department of State
or the Bureau of Customs and Border Protection of the U.S. Department of Homeland Security, and (c) any anti-boycott Laws,
including any executive orders, rules and regulations.

 

“Securities”
means, with respect to any Person, such Person’s capital stock or limited liability company interests or any options, warrants
or other securities which are directly or indirectly convertible into, or exercisable or exchangeable for, such Person’s
capital stock or limited liability company interests, whether or not such derivative securities are issued by such Person, and
any reference herein to “Securities” refers also to any such derivative securities and all underlying securities directly
or indirectly issuable upon conversion, exchange or exercise of such derivative securities.

 

“Securities
Act” means the Securities Act of 1933 or any successor statute, as amended from time to time.

 

[***]

 

    	 	14	 

     

    

 

“Specified
Share” means: (a) for the Class A Members, the Class A Distribution Percentage; and (b) for the
Class B Members, the Class B Distribution Percentage.

 

“Subsequent
Capital Contribution” means, with respect to a Member, any Capital Contribution by such Member to the capital of
the Company other than any Initial Capital Contribution pursuant to Section 3.1 and Section 3.2. For the avoidance
of doubt, Subsequent Capital Contributions shall include the Construction Class B Investment and the Repowering Capital
Contributions.

 

“Support Obligations”
is defined in Section 3.5(a).

 

“Support Obligation
Notice” is defined in Section 3.5(a).

 

“Tapestry
Indebtedness” means Indebtedness under that certain Credit Agreement, dated as of [***] by and among Tapestry Wind LLC,
[***] and the other lenders party thereto.

 

“Tapestry
Repayment Amount” is defined in Section 3.3(c).

 

“Tapestry
Wind” is defined in the recitals to this Agreement.

 

“Tax”
or “Taxes” means all taxes, charges, fees, levies, penalties or other assessments imposed by any federal, state
or local or foreign taxing authority, including, but not limited to, income, excise, ad valorem, real or personal property, sales,
transfer, franchise, payroll, withholding, social security, gross receipts, license, stamp, occupation, employment or other taxes,
including any interest, penalties or additions attributable thereto.

 

“Tax Benefits”
means, with respect to a Class A Unit, the periodic federal income tax savings resulting from (a) the distributive share
of PTCs allocated by the Company to the Holder of such Class A Unit, and (b) the distributive share of tax losses and
deductions allocated by the Company to the Holder of such Class A Unit, in each case, as such federal income tax savings is
determined in accordance with the Base Case Model.

 

“Tax Costs”
means, with respect to a Class A Unit, the periodic federal income tax liability (after taking into account any suspended
losses of the Class A Members under Section 704(d)) resulting from (a) the distributive share of taxable income
and gain allocated by the Company to the Holder of such Class A Unit (including expected chargebacks of Company Minimum Gain
pursuant to Section 4.3(a), expected chargebacks of Member Nonrecourse Debt Minimum Gain pursuant to Section 4.3(b),
and expected allocations of Items of income pursuant to the first sentence of Section 12.2(a)(v)), and (b) any gain recognized
by such Holder under Sections 731(a) of the Code from Cash Distributions in respect of such Class A Unit, in each case,
as such federal income tax liability is determined in accordance with the Base Case Model.

 

“Tax Equity
Documents” means the MIPA and related documentation that reflect the terms and conditions of the Tax Equity Financing.

 

“Tax Equity
Entity” means the Borrower and Pinnacle Holdco.

 

“Tax Equity
Financing” means a tax equity investment to be made on the Tax Equity Funding Date by the Tax Equity Investor.

 

    	 	15	 

     

    

 

“Tax Equity
Funding Date” means the date on which the Tax Equity Investor under the Tax Equity Documents will acquire ownership interests
in Pinnacle Holdco.

 

“Tax Equity
Investor” is defined in the recitals to this Agreement..

 

“Tax Return”
means the Company’s federal income tax return for each Taxable Year, including Schedule K 1s .

 

“Taxable Year”
means the taxable year of the Company for federal income tax purposes, which shall be (a) the period commencing on the
Effective Date and ending on the immediately succeeding December 31, (b) any subsequent calendar year or (c) any
portion of the period described in clause (a) or (b) for which the Company is required to allocate Company Items pursuant
to Article IV or Section 12.2(a)(v).

 

“Taxing Authority”
means, with respect to a particular Tax, the agency or department of any Governmental Authority responsible for the administration
and collection of such Tax.

 

“Terminated
Member” is defined in Section 9.7.

 

“Third Party”
means a Person other than a Member or an Affiliate of a Member.

 

“Transaction”
means the transactions contemplated and provided for in the Investment Documents.

 

“Transaction
Documents” mean the Repowering Financing Documents, the Repowering Project Documents, and the Tax Equity Documents.

 

“Transfer”
means the sale, transfer, assignment, conveyance, gift, exchange or other disposition of Class A Units or Class B Units
(and the Membership Interests represented thereby), whether directly by the Member or indirectly, excluding the creation of an
Encumbrance, but including any such sale, transfer, assignment, conveyance, gift, exchange or other disposition in connection with,
or in lieu of, the foreclosure of an Encumbrance.

 

“Transferee”
means a Person to which a Transfer is or would be made.

 

“Transferring
Member” means the Member effecting a Transfer.

 

“Treasury
Regulations” means the regulations promulgated under the Code by the United States Department of Treasury, as such regulations
may be amended from time to time. All references herein to specific sections of the regulations shall be deemed also to refer to
any corresponding provisions of succeeding regulations, and any reference to temporary regulations shall be deemed also to refer
to any corresponding provisions of final regulations.

 

“UCC”
or “Uniform Commercial Code” means the Uniform Commercial Code in effect in the State of Delaware from time
to time.

 

“Units”
means either the Class A Units or the Class B Units or both, as the context requires.

 

    	 	16	 

     

    

 

“Value”
means, with respect to any Asset of the Company, such Asset’s adjusted basis for federal income tax purposes, except as follows:

 

(a)            the
initial Value of any Asset contributed by a Member to the Company shall be the gross fair market value of such Asset, as agreed
to by the Members;

 

(b)            the
Value of all Assets of the Company shall be adjusted to equal their respective gross fair market values (taking Code Section 7701(g) into
account), as determined by the Members, in accordance with Treasury Regulations Section 1.704 1(b)(2)(iv)(f), as of the following
times: (i) the acquisition of an additional Membership Interest in the Company by any new or existing Member in exchange for
more than a de minimis Capital Contribution; (ii) the distribution by the Company to a Member of more than a de minimis amount
of Company Assets as consideration for the acquisition of a Membership Interest in the Company; (iii) the grant of a Membership
Interest in the Company (other than a de minimis interest) as consideration for the provision of services to or for the benefit
of the Company by an existing Member acting in a Member capacity or a new Member acting in a Member capacity or in anticipation
of being a Member; and (iv) the liquidation of the Company within the meaning of Treasury Regulations Section 1.704 1(b)(2)(ii)(g);
provided that any adjustment described in clauses (i), (ii) or (iii) of this paragraph shall be made only upon the Consent
of the Members;

 

(c)            the
Value of any Asset distributed to any Member shall be adjusted to equal the gross fair market value of such Asset on the date of
distribution (taking Code Section 7701(g) into account), as determined by the Consent of the Members; and

 

(d)            the
Value of Company Assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such Assets pursuant
to Code Section 734(b)  or Code Section 743(b), but only to the extent that such adjustments are taken into account
in determining Capital Accounts pursuant to Treasury Regulations Section 1.704 1(b)(2)(iv)(m); provided, however, that the
Value shall not be adjusted pursuant to this clause (d) to the extent the Members determine that an adjustment pursuant to
clause (b) of this definition is necessary or appropriate in connection with a transaction that would otherwise result in
an adjustment pursuant to this clause (d).

 

If the Value of an Asset has been determined
or adjusted pursuant to clause (a), (b) or (d) of this definition, such Value shall thereafter be adjusted by the Depreciation
taken into account with respect to such Asset for purposes of determining Company Items and not by the depreciation, amortization,
or other cost recovery deductions taken into account with respect to that asset for federal income tax purposes.

 

“Working Capital
Loan” is defined in Section 3.4(a).

 

“Working Capital
Notice” is defined in Section 3.4(a).

 

Section 1.2     Other
Definitional Provisions.

 

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

 

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

 

    	 	17	 

     

    

 

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

 

ARTICLE 2

THE COMPANY

 

Section 2.1     Organization
of Limited Liability Company.

 

The Class A Member of the Company
is CWEN Pinnacle Repowering Holdco LLC and the Class B Member of the Company is CWSP Pinnacle Holding LLC. The Company was
formed as a Delaware limited liability company by the filing of the Delaware Certificate pursuant to the Act. The rights and obligations
of the Members shall be as provided in the Act, except as otherwise expressly provided herein. The Manager shall from time to time
execute or cause to be executed all such certificates, instruments and other documents, and cause to be done all such filings and
other actions, as the Manager may deem necessary or appropriate to operate, continue, or terminate the Company as a limited liability
company under the laws of the State of Delaware and to qualify the Company to do business in all jurisdictions other than the State
of Delaware in which the Company conducts or proposes to conduct business and in any other jurisdiction where such qualification
is necessary or appropriate.

 

Section 2.2     Name.

 

The name of the Company is, and the
business of the Company shall be conducted under the name of, “Pinnacle Repowering Partnership LLC” or such other
name or names as the Manager may designate from time to time, with the Consent of the Members. The Manager shall take any
action that it determines is required to comply with the Act, assumed name act, fictitious name act, or similar statute in
effect in each jurisdiction or political subdivision in which the Company conducts or proposes to conduct business and the
Members agree to execute any documents reasonably requested by the Manager in connection with any such action.

 

Section 2.3     Principal
Office.

 

The Company shall maintain a principal
office at 300 Carnegie Center, Suite 300, Princeton, NJ 08540. The Manager may change the principal office of the Company
from time to time upon prior written notice to the Members. The Manager shall maintain all records of the Company at its principal
office or such location designated by the Manager in a notice to the Members.

 

Section 2.4     Registered
Office; Registered Agent.

 

The name of the registered agent of the
Company in the State of Delaware is CT Corporation System. The address of the Company’s registered office in the State of
Delaware is at Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801.

 

    	 	18	 

     

    

 

Section 2.5     Purposes.

 

The purpose of the Company is to directly
or indirectly, through its ownership of the membership interests in the Tax Equity Entities and the Pinnacle Project Company, (a) capitalize
the Company as provided in Article III and own the Pinnacle Project Company, (b) operate, maintain and repair the Pinnacle
Project for the purpose of producing energy, capacity, ancillary services and RECs, (c) sell energy, capacity and ancillary
services produced by the Pinnacle Project and to sell RECs generated from the Pinnacle Project, (d) develop, construct and
repower the Pinnacle Project, (e) negotiate, execute, deliver and perform each Repowering Project Document in order to achieve
the Tax Equity Funding Date, (f) raise Repowering Construction Financing and negotiate, execute, deliver and perform each
Repowering Financing Document in order to pay for or reimburse costs associated with the development, construction, repowering
and financing of the Pinnacle Project, (g) raise Tax Equity Financing and negotiate, execute, deliver and perform each Tax
Equity Financing Document, (h) enter into, comply with and perform its obligations and enforce its rights under this Agreement
and each other Transaction Document to which it is a party and to cause the Pinnacle Project Company or any other subsidiary of
the Company to comply with, and perform its obligations and enforce its rights under each Transaction Document to which the Pinnacle
Project Company or other subsidiary of the Company is a party; and (i) engage in and perform any and all activities necessary,
incidental, related or appropriate to accomplish the foregoing that may be engaged in by a limited liability company formed under
the Act. The Company shall not engage in any activity or own any Assets that are not directly related to the Company’s purpose
as set forth in the first sentence of this Section 2.5.

 

Section 2.6     Term.

 

The Company was formed on February 7,
2020, and shall continue in existence until dissolved and terminated in accordance with this Agreement or the Act.

 

Section 2.7     Title
to Property.

 

Title to Company Assets, whether tangible
or intangible, shall be held in the name of the Company, and no Member, individually, shall have title to or any interest in such
property by reason of being a Member. Membership Interests of each Member shall be personal property for all purposes.

 

Section 2.8     Units;
Certificates of Membership Interest; Applicability of Article 8 of UCC.

 

Membership Interests shall be represented
by Units, divided into Class A Units (in the case of Class A Interest) and Class B Units (in the case of Class B
Interest). The Membership Interests represented by Class A Units and Class B Units shall have the respective rights,
powers and preferences ascribed to Class A Units and Class B Units in this Agreement. The class of Membership Interest
of a Member shall be as provided in Annex I. The Members hereby specify, acknowledge and agree that all Units (and the Membership
Interests represented thereby) are securities governed by Article 8 and all other provisions of the Uniform Commercial Code,
and pursuant to the terms of Section 8 103(c) of the Uniform Commercial Code, such interests shall be “certificated
securities” for all purposes under such Article 8 and under all other provisions of the Uniform Commercial Code. All
Units (and the Membership Interests represented thereby) shall be represented by certificates substantially in the form attached
hereto as Exhibit B, shall be recorded in a register (the “Register”) thereof maintained by the Company,
and shall be subject to such rules for the issuance thereof in compliance with this Agreement and applicable Law.

 

Section 2.9     No
Partnership.

 

The Members intend that the Company not
be a partnership (including a limited partnership) or joint venture, and that no Member be a partner or joint venturer of any other
Member, for any purposes other than tax purposes, and this Agreement may not be construed to suggest otherwise.

 

    	 	19	 

     

    

 

ARTICLE 3

CAPITAL CONTRIBUTIONS; CREDIT SUPPORT

 

Section 3.1     Class A
Interest.

 

Each Class A Member shall be entitled
to the allocations, distributions and other rights as are prescribed for a Class A Member in this Agreement. The Class A
Member’s Capital Account balance as of the Effective Date with respect to its Class A Interest is as indicated on Annex
I. The number of Class A Units held by the Class A Member with respect to its Class A Interest as of the Effective
Date is the number indicated on Annex I.

 

Section 3.2     Class B
Interest.

 

Each Class B Member shall be
entitled to the allocations, distributions and other rights as are prescribed for a Class B Member in this Agreement.
Each Class B Member’s Capital Account balance as of the Effective Date with respect to its Class B Interest
is as indicated on Annex I. The number of Class B Units held by the Class B Member with respect to its Class B
Interest as of the Effective Date is the number indicated on Annex I.

 

Section 3.3     Other
Required Capital Contributions; Credit Support.

 

(a)            Except
as provided in this Section 3.3, Section 3.1, Section 3.2, Section 3.6, Section 6.4(d), Section 6.6(f) and
Section 12.3, no Member shall be obligated to make Capital Contributions.

 

(b)            Coincident
with [***] admission as a member of Class B Member and the contribution of the Safe Harbor Equipment to the Class B Member
by the [***], in each case, pursuant to Section 9.8, Class B Member shall contribute the Safe Harbor Equipment
to the Company.

 

(c)            [***]
the Initial Class A Member shall contribute to the Company all of its right, title and interest in the equity interests in
the Pinnacle Project Company to the Company [***] the Initial Class B Member shall cause Clearway Renew LLC, its affiliate,
to assign all of its rights and obligations under the Repowering TSA, including title to all equipment previously purchased thereunder
for which title has passed to Clearway Renew LLC, to the Pinnacle Project Company in exchange for $[***]; [***].

 

(d)            The
Class B Member shall be obligated to make additional Capital Contributions to the Company (the “Construction Class B
Investment”) in cash to fund all construction and post-financial closing development costs and expenses in respect of
the Pinnacle Project incurred in connection with the repowering of the Pinnacle Project and necessary to reach the Tax Equity Funding
Date, to the extent that the proceeds of the Repowering Construction Financing are insufficient to cover such costs and expenses.

 

(e)            Upon
each of the dates set forth in Exhibit D, the Members shall make Capital Contributions in an aggregate amount equal to the
Repowering Capital Contribution to the Company. The Repowering Capital Contribution shall consist of the following:

 

(i)            On
the Tax Equity Funding Date, the Class A Member will be obligated to make Capital Contributions to the Company (the aggregate
of all Capital Contributions made pursuant to this Section 3.3(e)(i), the “Incremental Class A Investment”)
in an amount equal to the lesser of (x) the Incremental Class A Investment Cap and (y) the sum of (A) the amount
required to repay, in full, the lenders under the Repowering Construction Financing and (B) any remaining payments due to
vendors to reach Final Completion.

 

    	 	20	 

     

    

 

(ii)            On
September 30, 2031, the Class A Member will be obligated to make Capital Contributions to the Company (the aggregate
of all Capital Contributions made pursuant to this Section 3.3(e)(ii), the “Deferred Class A Investment”),
as specified in the Base Case Model referenced in Exhibit D.

 

(iii)            [***].

 

(f)            The
Class A Member and the Class B Member acknowledge and agree that Credit Support Obligations specified in this Section 3.3(f) are
required in connection with Financing Required Capital Contributions or the Tax Equity Financing. Each Member agrees to satisfy
the following Credit Support Obligations required under the Repowering Construction Financing and the Tax Equity Financing, as
applicable, on or before the date required therefor under each such financing:

 

(A)            the
Class A Member will execute and deliver to the lenders under the Repowering Construction Financing an equity contribution
agreement in respect of the Incremental Class A Investment (it being acknowledged that any such equity contribution agreement
shall include a maximum amount of the Class A Member’s funding commitment to the lenders equal to the Incremental Class A
Investment Cap), and

 

(B)            the
Class B Member will execute and deliver to the lenders under the Repowering Construction Financing an equity contribution
agreement in respect of the Construction Class B Investment and (if required by the lenders) the Incremental Class B
Investment (it being acknowledged that any such equity contribution agreement may include a maximum amount of the Class B
Member’s funding commitment to the lenders).

 

(g)            To
the extent that the Tax Equity Funding Date occurs and the Class A Members fail to make any Incremental Class A Investments,
in addition to any other rights and remedies that the Class B Members may have at law or in equity, amounts paid by the Class B
Members in lieu of the Incremental Class A Investment, or amounts reimbursed by the Class B Members described in Section 3.3(f)(B),
shall be treated as a loan from the Class B Members to the Class A Members. Each of the Class A Members will be
treated as making a Capital Contribution in the amount of the loan received from the Class B Members. Each such loan shall
accrue interest at [***]%, calculated and compounded on December 31 of each year. Commencing on the first Distribution Date
after the Tax Equity Funding Date, any Available Cash Flow that a Class A Member would otherwise be entitled to shall not
be paid to such Class A Member, and all such Available Cash Flow shall be paid to the Class B Member until the loan has
been repaid in full with interest. Any such loan may be assigned or collaterally assigned by the Class B Member, and the Class A
Member shall execute and deliver notes, agreements, consents, estoppels, opinions and other documentation reasonably requested
by the Class B Member in connection with such an assignment or collateral assignment.

 

    	 	21	 

     

    

 

Section 3.4     Member
Loans.

 

(a)            In
the event that, from time to time after the Effective Date, additional working capital is needed to enable the Company to
cause the Assets of the Company and the Pinnacle Project Company to be properly operated and maintained (and to pay and
perform the costs, expenses, obligations and liabilities of the Company or the Pinnacle Project Company), then, at the
discretion of the Manager, the Manager may give notice to the Members thereof (the “Working Capital
Notice”), and each Member shall have the right (but not the obligation) to advance all or part of the needed funds
to the Company. Within ten (10) Business Days following the date of the Working Capital Notice, the participating
Members shall give notice to the Manager and the other Members stating their election whether to provide such funding
to the Company (the “Funding Notice”). If more than one Member states in the Funding Notice that it elects
to provide such funds, then each Member shall provide an equal amount of funds (or such other amount as the Members decide)
to the Company within five (5) Business Days after the date of the Funding Notice. Amounts advanced by any Member
pursuant to this Section 3.4(a) shall be considered “Member Loans;” provided, however, that no
Member Loan may impair the ability of the Company to distribute Available Cash Flow pursuant to Article 5.

 

(b)            Any
Member Loan shall be unsecured and shall bear interest at a rate equal to the lesser of (A) the Reference Rate plus [***]%
or (B) the highest rate of interest that may be charged by a Member in accordance with applicable Law, unless a lower rate
of interest is otherwise agreed to by such Member in its sole discretion. Member Loans shall be repaid by the Company out of Available
Cash Flow in accordance with the provisions of Section 5.1(f). Interest on each Member Loan pursuant to this Section 3.4
shall accrue and, if not paid in accordance with the immediately preceding sentence of this Section 3.4(b), be compounded
to the principal amount thereof on each Distribution Date.

 

Section 3.5     Support
Obligations.

 

(a)            In
the event that, from time to time after the Effective Date, the Company or a Project Company or any other subsidiary of the Company
is required to provide a letter of credit or other credit support under a Repowering Project Document, excluding the Credit Support
Obligations set forth in Section 3.3(f) (for which the obligations of the Members are addressed exclusively in accordance
with Section 3.3(f)) (a “Support Obligation”), then, at the discretion of the Manager, the Manager may
give notice to the Members thereof (the “Support Obligation Notice”), and each Member shall have the right (but
not the obligation) to provide the Support Obligation. Within ten (10) Business Days following the date of the Support Obligation
Notice, the participating Members shall give notice to the Manager and the other Members stating their election whether to provide
such Support Obligation (the “Posting Notice”). If more than one Member states in the Posting Notice that it
elects to provide such Support Obligation, then each Member shall provide an equal amount of the Support Obligation (or such other
amount as the Members decide) to the Company within five (5) Business Days after the date of the Posting Notice; provided,
however, that no Support Obligation may impair the ability of the Company to distribute Available Cash Flow pursuant to Article 5.

 

(b)            In
the event that a Member causes to be provided Support Obligations, then all reasonable out-of-pocket fees, costs and expenses incurred
in connection therewith, in each case to the extent that such fees, costs and expenses are included in the annual budget for the
Company or the Pinnacle Project Company, shall be paid and reimbursed to the Member by the Company solely out of Available Cash
Flow that would otherwise be distributed to the Members prior to distributions pursuant to the provisions of Section 5.1.
If a Member is obligated to pay or reimburse any amount drawn or paid under such Support Obligations, the Member shall be deemed
to have made a Member Loan to the Company in accordance with Section 3.4(b) equal to the amount so paid or reimbursed
by the Member. A Member shall give notice thereof to the Manager promptly after such loan is deemed to be made.

 

    	 	22	 

     

    

 

Section 3.6     Obligations
Under Tax Equity Documents

 

(a)            .
In the event that: (i) the Company, a Tax Equity Entity or the Pinnacle Project Company incurs any obligation under a Tax
Equity Document to make (A) capital contributions to the Pinnacle Project Company, (B) payments in respect of any indemnification
obligations or (C) any other payment obligation; and (ii) the obligation is a Class A TE Obligation, then, in each
case, (x) the Class A Member hereby irrevocably commits to contribute to the Borrower an amount equal to such payment
obligation as and when required or contemplated pursuant to the Tax Equity Document and (y) the Manager shall cause the amount
to be applied to the payment or reimbursement of such obligation.

 

(b)            In
the event that: (i) the Company, a Tax Equity Entity or the Pinnacle Project Company incurs any obligation under a Tax Equity
Document to make (A) capital contributions to the Pinnacle Project Company, (B) payments in respect of any indemnification
obligations or (C) any other payment obligation; and (ii) the obligation is a Class B TE Obligation, then, in each
case, (x) the Class B Member hereby irrevocably commits to contribute to the Borrower an amount equal to such payment
obligation as and when required or contemplated pursuant to the Tax Equity Document and (y) the Manager shall cause the amount
to be applied to the payment or reimbursement of such obligation.

 

(c)            In
the event that: (i) the Company, a Tax Equity Entity or the Pinnacle Project Company incurs any obligation under a Tax Equity
Document to make (A) capital contributions to the Pinnacle Project Company, (B) payments in respect of any indemnification
obligations or (C) any other payment obligation; and (ii) the obligation is neither a Class A TE Obligation nor
a Class B TE Obligation, then, in each case, (x) each Member hereby irrevocably commits to contribute to the Borrower
an amount equal to its Specified Share of such payment obligation as and when required or contemplated pursuant to the Tax Equity
Document and (y) the Manager shall cause the amount to be applied to the payment or reimbursement of such obligation.

 

Section 3.7     No
Right to Return of Capital Contributions.

 

Except as otherwise provided in this Agreement,
no Member may require a return of any part of its Capital Contributions or the payment of interest thereon from the Company or
from another Member. An unrepaid Capital Contribution is not a liability of the Company or any Member.

 

Section 3.8     [***]

 

ARTICLE 4

CAPITAL ACCOUNTS; ALLOCATIONS

 

Section 4.1     Capital
Accounts.

 

(a)            The
Company shall maintain for each Member a separate Capital Account in accordance with the rules of Treasury Regulations Section 1.704
l(b)(2)(iv).

 

(b)            A
Member’s Capital Account will be increased by (i) such Member’s Capital Contributions, and (ii) the income
and gain the Member is allocated by the Company, including any income and gain that is exempted from tax and including any income
and gain described in Treasury Regulations Section 1.704 1(b)(2)(iv)(g), but excluding tax items of income and gain described
in Treasury Regulations Section 1.704 1(b)(4)(i). A Member’s Capital Account will be decreased by (i) the amount
of money distributed to the Member by the Company, (ii) the net value of any property other than money distributed to the
Member by the Company (i.e., the fair market value of the property net of any liabilities secured by the property that the Member
is considered to assume or take subject to under Section 752 of the Code), (iii) any expenditures of the Company described
in Section 705(a)(2)(B) of the Code (i.e., that cannot be capitalized or deducted in computing taxable income) that are
allocated to the Member, (iv) losses and deductions that are allocated to the Member, but excluding tax items of loss or deduction
described in Treasury Regulations Section 1.704 1(b)(4)(i), and (v) an amount equal to an allocation of downward basis
adjustment to such Member as described in Treasury Regulations Section 1.704-1(b)(2)(iv)(j).

 

    	 	23	 

     

    

 

 

(c)            In
the event Units are Transferred in accordance with the terms of this Agreement, the Transferee shall succeed to the Capital Account
of the Transferring Member to the extent it relates to the Units so Transferred.

 

(d)            In
determining the amount of any liability for purposes of Section 4.1(b) there shall be taken into account Code Section 752(c) and
any other applicable provisions of the Code and Treasury Regulations.

 

(e)            The
Members’ Initial Capital Contributions and initial Capital Accounts are set forth on Annex I.

 

(f)            This
Section 4.1 and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply
with Treasury Regulations Section 1.704 1(b), and shall be interpreted and applied in a manner consistent with such Treasury
Regulations.

 

Section 4.2     Allocations. For
purposes of maintaining Capital Accounts, all Company Items for any Taxable Year shall be allocated among the Members as
follows:

 

(a)            General
Allocations. Subject to Section 4.2(b), Section 4.3 and Section 12.2(a)(v), all Company Items attributable to
the Pinnacle Project for any Taxable Year or relevant portion thereof shall be allocated among the Members as follows: the Class A
Distribution Percentage to the Class A Members, pro rata in accordance with their Class A Units, and the Class B
Distribution Percentage to the Class B Members, pro rata in accordance with their Class B Units.

 

(b)            Items
in Connection with Liquidation. Company Items for the Taxable Year in which there is a disposition or deemed disposition of
all or substantially all of the Assets of the Company pursuant to Section 12.2(a)(iii) shall be allocated pursuant to
Section 12.2(a)(v).

 

Section 4.3     Adjustments. The
following adjustments shall be made to the allocations set forth in Section 4.2 in the following order of priority in
order to comply with Treasury Regulations Sections 1.704 1(b) and 1.704 2:

 

(a)            Company
Minimum Gain Chargeback. Notwithstanding the other provisions of this Article IV, except as provided in Treasury Regulations
Section 1.704 2(f), if there is a net decrease in Company Minimum Gain during any taxable year of the Company, each Member
shall be allocated Company Items of income and gain for such taxable year (and, if necessary subsequent taxable years) in an amount
equal to such Member’s share of the net decrease in Company Minimum Gain, determined in accordance with Treasury Regulations
Section 1.704 2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required
to be allocated to each Member pursuant thereto. The Company Items to be so allocated shall be determined in accordance with Treasury
Regulations Sections 1.704 2(f)(6) and 1.704 2(j)(2). This Section 4.3(a) is intended to comply with the minimum
gain chargeback requirement in Treasury Regulations Section 1.704 2(f) and shall be interpreted consistently therewith.

 

    24

     

    

 

(b)            Chargeback
of Minimum Gain Attributable to Member Nonrecourse Debt. Notwithstanding the other provisions of this Article IV, except
as provided in Treasury Regulations Section 1.704 2(i)(4), if there is a net decrease in Member Nonrecourse Debt Minimum
Gain attributable to a Member Nonrecourse Debt during any taxable year of the Company, each Member who has a share of the Member
Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations
Section 1.704 2(i)(5), shall be allocated Company Items of income and gain for such taxable year (and, if necessary, subsequent
taxable year) in an amount equal to such Member’s share of the net decrease in Member Nonrecourse Debt, determined in accordance
with Treasury Regulations Section 1.704 2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion
to the respective amounts required to be allocated to each Member pursuant thereto. The Company Items to be so allocated shall
be determined in accordance with Treasury Regulations Sections 1.704 2(i)(4) and 1.704 2(j)(2). This Section 4.3(b) is
intended to comply with the partner nonrecourse debt minimum gain chargeback requirement in Treasury Regulations Section 1.704
2(i)(4) and shall be interpreted consistently therewith.

 

(c)            Limitation
on Losses and Deductions. No items of loss or deduction may be allocated to any Member to the extent the allocation would result
in or increase an Adjusted Capital Account Deficit at the end of any Taxable Year. In the event some but not all of the Members
would have Adjusted Capital Account Deficits as a consequence of an allocation of items of loss or deduction, this limitation shall
be applied on a Member-by-Member basis and items of loss or deduction not allocable to any Member as a result of such limitation
shall be allocated to the other Members in the manner otherwise required pursuant to Section 4.2 and Section 12.2(a)(v) to
the extent such other Members may be allocated such items of loss or deduction without producing an Adjusted Capital Account Deficit.

 

(d)            Qualified
Income Offset. In the event any Member unexpectedly receives any adjustments, allocations or distributions described in Treasury
Regulations Sections 1.704 1(b)(2)(ii)(d)(4), (5) or (6), Company Items of income and gain shall be allocated to such Member
in an amount and manner sufficient to eliminate as quickly as possible, to the extent required by the Treasury Regulations, any
Adjusted Capital Account Deficit; provided that an allocation pursuant to this Section 4.3(d) shall be made only if and
to the extent that such Member would have such a deficit Capital Account after all other adjustments provided for in this Section 4.3
have been tentatively made as if this Section 4.3(d) were not in this Agreement.

 

(e)            Gross
Income Allocation. In the event any Member has a deficit Capital Account at the end of any Taxable Year that is in excess of
the amount such Member is deemed obligated to restore pursuant to the penultimate sentences of Treasury Regulations Sections 1.704
2(g)(1) and 1.704 2(i)(5), each such Member shall be specially allocated Company Items of income and gain in the amount of
such excess as quickly as possible; provided that an allocation pursuant to this Section 4.3(e) shall be made only if
and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other special allocations
provided for in this Section 4.3 have been made as if Section 4.3(d) and this Section 4.3(e) were not
in this Agreement.

 

(f)            Section 754
Adjustments. To the extent an adjustment to the adjusted tax basis of any Company Asset pursuant to Code Section 734(b) or
Section 743(b) is required pursuant to Treasury Regulations Section 1.704 1(b)(2)(iv)(m)(2) or Section 1.704
1(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as the result of a distribution to a Member in
complete liquidation of such Member’s interest in the Company or a distribution to a Member other than in complete liquidation
of such Member’s interest in the Company, the amount of such adjustment to Capital Accounts shall be treated as an item of
gain (if the adjustment increases the basis of the Asset) or loss (if the adjustment decreases such basis). Such gain or loss shall
be specially allocated to the Members as follows: (A) to the Member to whom such distribution was made in the event the first
sentence of Treasury Regulations Section 1.704 1(b)(2)(iv)(m)(4) applies; (B) in accordance with how the corresponding
item of “displaced” gain or loss would be allocated to the Members pursuant to Section 4.2 to the extent the second
sentence of Treasury Regulations Section 1.704 1(b)(2)(iv)(m)(4) applies; and (C) in accordance with the Members’
 “interests in the Company” under Treasury Regulations Section 1.704 1(b)(3) in the event Treasury Regulations
Section 1.704 1(b)(2)(iv)(m)(2) applies.

 

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(g)            Nonrecourse
Deductions. Nonrecourse Deductions for any Taxable Year shall be allocated to the Members in accordance with (i) Section 4.2,
as in effect at the time the Nonrecourse Deduction arises, or (ii) if applicable, Section 12.2(a)(v), as in effect at
the time the Nonrecourse Deduction arises.

 

(h)            Member
Nonrecourse Deductions. Any Member Nonrecourse Deductions for any Taxable Year shall be allocated to the Member who bears the
economic risk of loss with respect to the Member Nonrecourse Debt to which such Member Nonrecourse Deductions are attributable
in accordance with Treasury Regulations Section 1.704 2(i)(1).

 

(i)            Regulatory
Allocations. The allocations required in Section 4.3(a) through Section 4.3(h) (the “Regulatory
Allocations”) are intended to comply with certain requirements of the Treasury Regulations. It is the intent of the Members
that, to the extent consistent with the Treasury Regulations, all Regulatory Allocations shall be offset either with other Regulatory
Allocations or with allocations of other Company Items. Therefore, notwithstanding any other provisions of this Article IV,
the Regulatory Allocations shall be taken into account in allocating other Company Items among the Members such that, to the extent
consistent with the Treasury Regulations, the net amount of allocations of such items and the Regulatory Allocations to each Member
shall be equal to the net amount that would have been allocated to each Member if the Regulatory Allocations had not occurred and
all Company Items were allocated pursuant to Section 4.2, this Section 4.3 (excluding the Regulatory Allocations) and
this Section 4.3(i) and Section 12.2(a)(v).

 

Section 4.4     Tax
Allocations.

 

(a)            Except
as otherwise provided in this Section 4.4, for federal, state and local income tax purposes each item of the Company’s
income, gain, loss, deduction and credit as determined for federal income tax purposes shall be allocated to the Members in the
same manner as the correlative Company Items are allocated for book purposes pursuant to Section 4.2, Section 4.3 and
Section 12.2(a)(v).

 

(b)            In
accordance with Code Section 704(c) and the Treasury Regulations thereunder, items of the Company’s income, gain,
loss, deduction and credit as determined for federal income tax purposes that are attributable to any non-cash property contributed
to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation
between the adjusted basis of such property to the Company for federal income tax purposes and its initial Value using the “traditional”
method permitted by Treasury Regulations Section 1.704 3(d).

 

(c)            In
the event the Value of any Company Asset is adjusted pursuant to subparagraph (b) of the definition of Value, subsequent allocations
of Company Items with respect to such Asset shall take account of any variation between the adjusted basis of such Asset for federal
income tax purposes and its Value in the same manner as under Code Section 704(c) and the Treasury Regulations thereunder.

 

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(d)            Allocations
pursuant to this Section 4.4 are solely for federal, state, and local income taxes and shall not affect, or in any way be
taken into account in computing, any Member’s Capital Account or distributive share of Company Items or distributions pursuant
to any provision of this Agreement.

 

Section 4.5     Other
Allocation Rules.

 

(a)            The
Members are aware of the income tax consequences of the allocations made by this Article IV and
Section 12.2(a) and hereby agree to be bound by the provisions of this Article IV and by
Section 12.2(a) in reporting their distributive shares of Company Items for income tax purposes, unless otherwise
required by applicable Law. If the respective Membership Interests or allocation ratios described in this
Article IV of the existing Members in the Company change or if a Membership Interest is Transferred in compliance with
this Agreement to any other Person, then, for the Taxable Year in which the change or Transfer occurs, all Company Items
resulting from the operations of the Company shall be allocated, as between the Members for the Taxable Year in which the
change occurs or between the Transferring Member and the Transferee, by taking into account their varying interests using the
interim closing of the books method permitted by Treasury Regulations Section 1.706 1(c)(2)(ii), unless otherwise agreed
in writing by all the Members.

 

(b)            The
Members agree that solely for purposes of determining a Member’s proportionate share of the “excess nonrecourse liabilities”
of the Company within the meaning of Treasury Regulations Section 1.752 3(a)(3), the Members’ interests in Company profits
are in accordance with Section 4.2 as in effect at the time the excess nonrecourse liability arises.

 

(c)            Each
Member agrees to provide the Company with information in connection with a transaction subject to Sections 734 and 743 of the Code
and the elections permitted and provisions required thereunder, including Treasury Regulations Section 1.743 1.

 

ARTICLE 5

DISTRIBUTIONS

 

Section 5.1     Distributions
of Available Cash Flow. Available Cash Flow shall be distributed to the Members as follows:

 

(a)            Subject
to Sections 3.3(f) and 5.1(b), from and after the Effective Date, Available Cash Flow shall be distributed to the Members
on each Distribution Date on which the Company has Available Cash Flow, in the following order and priority:

 

(i)            first,
from and after the Effective Date until the Tax Equity Funding Date, 100% to the Class A Members, pro rata in accordance with
their Class A Units; and

 

(ii)            second,
from and after the Tax Equity Funding Date, the Class A Distribution Percentage to the Class A Members, pro rata in accordance
with their Class A Units, and the Class B Distribution Percentage to the Class B Members, pro rata in accordance
with their Class B Units.

 

(b)            [***].

 

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(c)            Intentionally
deleted.

 

(d)            [***].

 

(e)            [***].

 

(f)            Once
all amounts have been distributed pursuant to Section 5.1(a) above on any Distribution Date, then if on such
Distribution Date on which there is an unpaid balance on any Member Loan made by a Member in accordance with
Section 3.4, any remaining Available Cash Flow shall be repaid to the Members participating in such Member Loan on such
Distribution Date in an amount not to exceed the outstanding balance of such Member Loan.

 

Section 5.2     Limitation. The
distributions described in this Article V shall be made only from Available Cash Flow and only to the extent that there
shall be sufficient Available Cash Flow to enable the Manager to make payments in accordance with the terms hereof.
Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to a
Member on account of its Membership Interest if such distribution (including a return of Capital Contributions) would violate
the Act or any other applicable Law.

 

Section 5.3     Withholding. Notwithstanding
any other provision of this Agreement, the Company shall comply with any withholding requirements under any Law and shall
remit amounts withheld to, and file required forms with, applicable taxing authorities. To the extent that the Company is
required to withhold and pay over any amounts to any taxing authority with respect to distributions or allocations to any
Member, the amount withheld shall be treated as a distribution of cash to such Member in the amount of such withholding. The
Company shall notify the Member and permit the Member, if permitted by applicable Law, to contest the applicability of the
underlying Tax prior to making such withholding, provided that the Company shall not incur any interest, penalties or
additions to tax (unless the contesting Member shall have agreed to indemnify and hold harmless the Company for any such
additional liabilities). If an amount required to be withheld was not withheld from an actual distribution, the Company may
reduce subsequent distributions by the amount of such required withholding and any penalties or interest thereon. Each Member
agrees to furnish to the Company such forms or other documentation as is reasonably necessary to assist the Company in
determining the extent of, and in fulfilling, its withholding obligations.

 

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ARTICLE 6

MANAGEMENT

 

Section 6.1     Manager.

 

(a)            The
Initial Class A Member is hereby appointed by the Members as the initial Manager of the Company. Except as provided in
Section 6.2 or as otherwise expressly provided in this Agreement, the Manager shall conduct, direct and exercise control
over all activities of the Company, and shall have full power and authority on behalf of the Company to manage and administer
the business and affairs of the Company and to do or cause to be done any and all acts reasonably considered by the Manager
to be necessary or appropriate to conduct the business of the Company (including, without limitation, taking all necessary
actions to cause the Company to cause the Pinnacle Project Company (and any other subsidiary of the Company) to distribute
any Available Cash Flow in a timely manner and to perform its obligations and enforce its rights under the Repowering Project
Documents to which it is a party and to otherwise carry out its purposes) without the need for approval by or any other
consent from any Member, including the authority to bind the Company in making contracts and incurring obligations in the
Company’s name in the course of the Company’s business. The Manager may delegate its management duties and obligations
to third parties, including the Master Services Provider, or Officers but such delegation shall not relieve the Manager of
its primary obligation with respect to such duties and obligations. Except to the extent that a Member is also the Manager or
authority is delegated from the Manager, no Member shall have any authority to bind the Company. Without limiting the
generality of the foregoing, the Manager shall (provided that, in each case as it relates to the Pinnacle Project Company or
any other subsidiary of the Company, only to the extent that the Company has (directly or indirectly) the authority to
control the management of the Pinnacle Project Company or other subsidiary of the Company):

 

(i)            in
accordance with Article VIII hereof, keep and maintain books of account that are true and correct in all material respects
and prepare and timely file all necessary tax returns and make all necessary or desirable tax elections for the Company and the
Pinnacle Project Company and any other subsidiary of the Company;

 

(ii)           prepare
and submit all filings of any nature that are required to be made by the Company and the Pinnacle Project Company and other subsidiary
of the Company under any laws, regulations, ordinances or otherwise applicable to the Company, the Pinnacle Project Company and/or
other subsidiary of the Company, or the Pinnacle Project;

 

(iii)          procure
and maintain all Licenses and Permits (if any) required for the Company and the Pinnacle Project Company and any other subsidiary
of the Company;

 

(iv)          comply
with the terms and conditions of this Agreement, the Transaction Documents, the Licenses and Permits and applicable Law;

 

(v)           procure
and maintain, or cause to be procured and maintained, all insurance required to be maintained pursuant to the Repowering Project
Documents and Repowering Financing Documents;

 

(vi)          enforce
the Company’s and the Pinnacle Project Company’s and any other subsidiary of the Company’s, and any counterparty’s,
compliance with the terms and conditions of all Contracts under which the Company or the Pinnacle Project Company or other subsidiary
of the Company has any obligations or rights, including this Agreement, the Repowering Financing Documents, the Repowering Project
Documents and ensure compliance with applicable Laws, including Environmental Laws, Anti-Corruption Laws and Laws relating to Sanctions;

 

(vii)         take
any required actions to cause the Company and the Pinnacle Project Company and any other direct or indirect subsidiaries of the
Company to distribute upstream to their respective members all Available Cash Flow as promptly as possible;

 

(viii)        manage
the Company’s and the Pinnacle Project Company’s and any other subsidiary of the Company’s cash according
to investment guidelines set forth in Section 8.5 and make distributions out of available cash as provided under the
relevant provisions of this Agreement, the Pinnacle Project Company’s (or other subsidiary’s, as applicable) organizational
documents, including the prompt distribution of cash from the Pinnacle Project Company (and any other subsidiary of the
Company) to the Company;

 

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(ix)           prepare
and deliver all of the reports and other information set forth in Section 8.4; and

 

(x)            create
and maintain the Register, including to reflect any Encumbrance on or Transfer of Membership Interests.

 

(b)            In
addition to the actions required pursuant to Section 6.1(a), and in no event in limitation thereof, the Manager shall provide
the following services to the Company and the Pinnacle Project Company or all other subsidiaries of the Company, as applicable
(provided that, in each case as it relates to either Pinnacle Project Company or other subsidiary, only to the extent that the
Company has (directly or indirectly) the authority to control the management of the Pinnacle Project Company or other subsidiary):

 

(i)            Accounting
Services. The Manager shall and/or shall cause the Master Services Provider to provide accounting and administrative support
for all operations, including the following accounting services, to the Company and the Pinnacle Project Company and to any other
subsidiaries of the Company, as applicable:

 

(A)           preparation,
filing, storage and dissemination of all necessary documentation of each such Person’s actions and transactions as required
by law, by the applicable Transaction Documents (including all reporting required thereunder) and of all documentation reasonably
deemed necessary or appropriate by the Manager;

 

(B)            maintenance
of accounting and tax records of each such Person’s transactions in accordance with the accounting standards set forth in
the applicable Transaction Documents and this Agreement;

 

(C)            facilitation
of payment by the Company and the Pinnacle Project Company and any other subsidiary of the Company of all reasonable expenses of
the Company, the Pinnacle Project Company or such other subsidiary, as applicable, in accordance with the applicable Transaction
Documents and this Agreement, as reflected in the annual budget for the Company and the Pinnacle Project Company (or such other
subsidiary), or reasonably related thereto;

 

(D)            preparation
and distribution of all applicable financial reports, financial models and accompanying certificates in accordance with the applicable
Transaction Documents and this Agreement;

 

(E)            preparation
and distribution of an annual budget for the Pinnacle Project Company and as may be required by the Transaction Documents and this
Agreement (including Section 6.7 hereof);

 

(F)            negotiation
and administration of an engagement letter with the Certified Public Accountant for annual audit (if required) and tax return review
services; and

 

(G)            preparation,
facilitation and / or distribution of all other reports, certificates, or transactional information or analysis as reasonably required
by the Pinnacle Project Company or any other subsidiary of the Company.

 

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(ii)            Taxes.
Subject to Article VIII and other more specific provisions of this Agreement and the related provisions contained in the Tax
Equity Documents, the Manager shall provide, or cause to be provided, the following tax services to the Company and the Pinnacle
Project Company and to any other subsidiaries of the Company in accordance with its obligations required by the Tax Equity Documents,
as applicable (provided that, in each case as it relates to the Pinnacle Project Company or such other subsidiary, only to the
extent that the Company has (directly or indirectly) the authority to control the management of the Pinnacle Project Company or
other subsidiary):

 

(A)           preparation
and timely filing of all applicable federal, state, local and / or other Tax returns, including income, franchise, excise, gross
receipts, sales and use tax returns and / or reports in accordance with the terms and conditions of the Transaction Documents and
this Agreement, including the performance or coordination of any tax law research to support such filing;

 

(B)            administration,
invoicing and coordination of property taxes including preparation of all applicable business property tax returns; the review
of any property tax assessment on the Pinnacle Project; the review and timely payment of property tax bills; and administration
of any property tax agreement, if applicable; and

 

(C)            cause
the Partnership Representative to represent the Company, and cause the partnership representative of the Pinnacle Project Company
and each other subsidiary of the Company to represent the Pinnacle Project Company and other subsidiary, in any audit, examination,
or review conducted by an appropriate taxing authority of any of the Company’s or the Pinnacle Project Company’s or
other subsidiary’s federal, state, provincial, or local income, franchise, gross receipts, sales and use, or property tax
filings.

 

(iii)           Treasury
Services. The Manager shall provide, or cause to be provided, the following treasury services, to the extent necessary, to
the Company and the Pinnacle Project Company and to any other subsidiaries of the Company, as applicable (provided that, in each
case as it relates to the Pinnacle Project Company or such other subsidiary, only to the extent that the Company has (directly
or indirectly) the authority to control the management of the Pinnacle Project Company or other subsidiary):

 

(A)           establishment,
maintenance, and administration of one or more bank accounts in the name of the Company and the Pinnacle Project Company and
any other subsidiary of the Company (with respect to the Pinnacle Project Company and other subsidiaries, if and as required)
in which to deposit the Company’s or the Pinnacle Project Company’s or other subsidiary’s receipts, and
from which to draw upon for the payment of all reasonable expenses of the Company or the Pinnacle Project Company or other
such other subsidiary;

 

(B)            investment
and distribution of the Company and the Pinnacle Project Company’s or any other subsidiary of the Company’s funds in
association with reasonable and customary cash forecast and cash management practices and in accordance with the terms, conditions,
and limitations of all applicable Transaction Documents and this Agreement;

 

(C)            maintenance
and administration of any revolving lines of credit available to the Company or the Pinnacle Project Company or of any other subsidiary
of the Company subject to the terms and conditions of all applicable Transaction Documents and this Agreement;

 

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(D)            maintenance
and administration of any letters of credit issued by, on behalf of, or for the benefit of the Company or the Pinnacle Project
Company or any other subsidiary of the Company subject to the terms and conditions of all applicable Transaction Documents and
this Agreement;

 

(E)            maintenance
by the Manager of the Company’s and the Pinnacle Project Company’s or any other subsidiary of the Company’s relationships
with its banks, bondholders, rating agencies and/or other financial institutions, and their respective legal counsels; and

 

(F)            periodic
maintenance and analysis of the Pinnacle Project’s long- term economic projections.

 

(iv)          Legal.
The Manager shall coordinate legal services, in the name of and on behalf of the Company and the Pinnacle Project Company and any
other subsidiary of the Company for whom the Company has (directly or indirectly) management authority, as it deems necessary to
ensure the proper administration and management of the Pinnacle Project. In coordinating these legal services, the Manager will
determine whether such legal services are to be performed by in-house legal staff (if at the time such legal services are performed
during the term of this Agreement the Manager has in its employ any in-house legal staff), outside legal counsel, or any combination
thereof.

 

(v)           Insurance.
If required under any of the Transaction Documents, the Manager shall procure insurance coverage for, and in the name of, the
Company and (to the extent the Company has (directly or indirectly) management authority for the Pinnacle Project Company or
other subsidiary of the Company) shall cause the Pinnacle Project Company or other subsidiary to procure, at the
Company’s or the Pinnacle Project Company’s or other subsidiary’s expense, as applicable, and shall enforce
its rights to such insurance coverage, defense and indemnification; provided, however, that if any such insurance (after
consultation with a reputable insurance broker) is not available on commercially reasonable terms only such insurance
shall then be required to be carried pursuant to this Agreement as is then available on commercially reasonable terms.

 

(vi)          Insurance
Claims. The Manager shall adjust insurance claims of the Company and (to the extent the Company has (directly or indirectly)
management authority for the Pinnacle Project Company or any other subsidiary of the Company) the Pinnacle Project Company or other
subsidiary, with insurance carriers, as applicable, to ensure equitable recovery for property damage and business interruption
claims. Adjustment of such a claim shall include: (A) filing proof of loss with all applicable supporting documentation, (B) site
inspection, (C) negotiations with insurance carriers and (D) ensuring that insurance proceeds be deposited and distributed
in accordance with the terms and conditions of this Agreement and the Transaction Documents. In the event of a liability claim,
the Manager shall oversee the defense of the claim.

 

(vii)         Indebtedness.
During any such time during which the Company or (to the extent the Company has (directly or indirectly) management authority for
the Pinnacle Project Company or any other subsidiary of the Company), the Pinnacle Project Company or subsidiary has Indebtedness
that remains outstanding, the Manager shall cause the Company and the Pinnacle Project Company to:

 

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(A)           comply
with the applicable financing documents, including, without limitation, by repaying such Indebtedness in the amounts and at the
times required under such financing documents; and

 

(B)            as
soon as practicable following the occurrence or existence of a default or an event of default under any financing documents, use
cash or reserves of the Pinnacle Project Company or applicable subsidiary to effect (or make commercially reasonable efforts to
effect) a cure (or request a waiver) of such a default or an event of default in accordance with the applicable financing documents.
For the avoidance of doubt, any such cash used by the Company to cure (or attempt to cure or waive) such default or event of default
shall be an expense of the Company and shall not be Available Cash Flow available for distribution to the Members pursuant to this
Article VI.

 

(viii)        Anti-Corruption
Laws and Sanctions. The Manager shall cause the Company to maintain in effect and enforce policies and procedures
designed to ensure compliance by the Company and the Pinnacle Project Company and all other subsidiaries of the Company, and
their respective directors, officers, employees and agents, with Anti-Corruption Laws and applicable Sanctions. The Manager
shall cause the Company and (to the extent the Company has (directly or indirectly) management authority for the Pinnacle
Project Company or any other subsidiary of the Company) the Pinnacle Project Company and each such subsidiary, and their
respective directors, officers, employees and agents, not to use any Company or Pinnacle Project Company or other
subsidiary’s funds (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or
giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose
of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person or in
any Sanctioned Country or (C) in any manner that would result in the violation of any Sanctions.

 

For the avoidance of doubt, all services
required to be performed by the Manager pursuant to this Section 6.1 shall be provided by the Manager at no cost or expense
to the Company, except to the extent otherwise provided in this Agreement or the Approved Budget, including fees and expenses incurred
pursuant to any subcontract entered into for the provision of such services in accordance with this Agreement.

 

(c)            A
Member shall not be deemed to be participating in the control of the business of the Company by virtue of its possessing or exercising
any rights set forth in this Agreement or the Act or any other Contract relating to the Company.

 

Section 6.2     Standard
of Care; Required Consents.

 

(a)            In
carrying out its duties hereunder, the Manager shall perform its duties and obligations hereunder in accordance in all material
respects with the Transaction Documents, Licenses and Permits, applicable Laws, the purposes set forth in Section 2.5 and
in accordance with the Good Management Standard.

 

(b)            Notwithstanding
any other provision of this Agreement to the contrary, the Manager may not take, or cause or permit the Company or (to the extent
the Company has (directly or indirectly) management authority for the Pinnacle Project Company or any other subsidiary of the Company)
the Pinnacle Project Company or such subsidiary to take, any of the following actions without having first obtained the Consent
of the Members:

 

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(i)             Do
any act in contravention of this Agreement or of the organizational documents of the Company or the Pinnacle Project Company or
other such subsidiary;

 

(ii)           With
respect to (A) the Company, engage in any business or activity that is not within the purpose of the Company, as set forth
in Section 2.5, or to change such purpose, and (B) the Pinnacle Project Company or any other subsidiary of the Company,
engage in any business or activity that is not within the purpose of the Pinnacle Project Company’s or other subsidiary’s
organizational documents, or to change such purpose;

 

(iii)          Cause
the Company to be treated other than as a partnership for tax purposes or cause the Pinnacle Project Company or any other subsidiary
of the Company to be treated other than as set forth in its Tax Equity Documents and Repowering Financing Documents, in each case
for United States federal income tax purposes (including by electing under Treasury Regulations Section 301.7701 3 to be classified
as an association);

 

(iv)          Permit
(unless such action is taken pursuant to the express terms of any Tax Equity Document or any Repowering Financing Document)
(A) possession of property of the Company or the Pinnacle Project Company or any other subsidiary of the Company by any
Member, (B) the assignment, transfer, Encumbrance or pledge of rights of the Company or the Pinnacle Project
Company or any other subsidiary of the Company in specific property of the Company or the Pinnacle Project Company for other
than a Company or Pinnacle Project Company purpose, as applicable, or other than for the benefit of the Company or such
Pinnacle Project Company or subsidiary, or (C) any commingling of the funds of the Company or the Pinnacle Project
Company or any other subsidiary of the Company with the funds of any other Person;

 

(v)           Amend
the Delaware Certificate or the certificate of formation, certificate of incorporation, limited liability company agreement or
other formation document, as applicable, of the Pinnacle Project Company or any other subsidiary of the Company, in any way that
would be materially adverse to any Member;

 

(vi)          Cause
the Company or the Pinnacle Project Company or any other subsidiary of the Company to be deemed Bankrupt, serve as one of the three
(3) petitioning creditors in connection with an involuntary bankruptcy petition against the Company or the Pinnacle Project
Company or any other subsidiary of the Company, cooperate with creditors in an effort to commence an involuntary bankruptcy petition,
guarantee such creditors’ claims, or take any action to encourage or assist in any way with the commencement of an involuntary
bankruptcy petition against the Company or the Pinnacle Project Company or any other subsidiary of the Company;

 

(vii)         Make
any distribution to any Member, except as specified in this Agreement;

 

(viii)        Repurchase,
redeem or convert any membership interests in, or other securities of, the Company;

 

(ix)           Enter
into any loan, contract or agreement with any Affiliate of the Manager other than as permitted by this Agreement or to loan any
funds of the Company or the Pinnacle Project Company or any other subsidiary of the Company to any Person or make any advance payments
of compensation or other consideration to the Manager or any of its Affiliates;

 

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(x)            Borrow
any money in the name or on behalf of the Company or the Pinnacle Project Company or any other subsidiary of the Company, as applicable,
in excess of $[***] in the aggregate (other than pursuant to the Repowering Financing Documents), or execute and issue promissory
notes and other negotiable or non-negotiable instruments and evidences of indebtedness in excess of $[***] in the aggregate, except
the Manager may borrow, or cause the Company or the Pinnacle Project Company or any other subsidiary of the Company to borrow
money in the name and on behalf of the Company or the Pinnacle Project Company or any other subsidiary of the Company, as applicable,
in such amounts as the Manager shall reasonably determine are necessary to preserve and protect the Company’s or the Pinnacle
Project Company’s or any other subsidiary of the Company’s property upon the occurrence of an accident, catastrophe
or similar event;

 

(xi)           Mortgage,
pledge, assign in trust or otherwise encumber any Company or Pinnacle Project Company’s or any other subsidiary of the
Company’s property, or assign any monies owing or to be owing to the Company or the Pinnacle Project Company or
any other subsidiary of the Company (other than in respect of the Repowering Financing Documents and the Tax Equity
Documents) except: (A) to secure the payment of any other borrowing permitted hereunder, (B) for customary liens
contained in or arising under any operating agreements, construction contracts and similar agreements executed by or binding
on the Company or the Pinnacle Project Company or any other subsidiary of the Company with respect to amounts not yet due or
not yet delinquent (or, if delinquent, that are being contested by the Manager, the Company or the Pinnacle Project Company
or any other subsidiary of the Company in good faith and for which adequate reserves have been set aside in accordance with
GAAP), or (C) for statutory liens for amounts not yet due or not yet delinquent (or, if delinquent, that are being
contested by the Manager, the Company or the Pinnacle Project Company or any other subsidiary of the Company in good faith
and for which adequate reserves have been set aside in accordance with GAAP); provided, that in no event shall the Manager
mortgage, pledge, assign in trust or otherwise encumber (x) the Company’s right to receive Capital Contributions
from the Members or (y) distributions from the Pinnacle Project Company, unless such encumbrance is required under the
Repowering Financing Documents or Tax Equity Documents;

 

(xii)          Sell,
lease, transfer, assign or distribute any interest in (A) the Pinnacle Project Company or the Pinnacle Project or any other
subsidiary of the Company (except as contemplated by the Tax Equity Documents or the Repowering Financing Documents) or (B) any
Asset or related group of Assets with a fair market value [***] in the aggregate in one or a related series of transactions, except
for (1) the sale of energy, (2) the sale of RECs (3) otherwise in the ordinary course of the Pinnacle Project Company’s
business and in accordance with the applicable Tax Equity Documents and the Repowering Financing Documents, (4) as contemplated
in the Repowering TSA, or (5) as required under any security agreement in connection with a borrowing permitted hereunder;

 

(xiii)         Guarantee
in the name or on behalf of the Company or the Pinnacle Project Company or any other subsidiary of the Company, the payment of
money or the performance of any contract or other obligation of any Person except, (A) with respect to the Tax Equity Documents
and the Repowering Financing Documents, for responsibilities customarily assumed under operating agreements considered standard
in the wind power industry, or (B) guarantees made by Pinnacle Holdco or the Pinnacle Project Company for performance by the
Borrower of its obligations under a borrowing permitted hereunder;

 

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(xiv)        Amend
the Approved Budget or the Construction Budget to increase projected expenditures or expend funds in excess of the Approved Budget
or the Construction Budget for any Fiscal Year, except for (A) amendments or expenditures that do not increase the aggregate
spending under the Approved Budget above [***] of the aggregate expense amount reflected in the Approved Budget for the Fiscal
Year, (B) with respect to the Pinnacle Project Company, expenditures that, after taking into account amounts theretofore paid
in such Fiscal Year, do not exceed [***] the amount budgeted to be expended in such Fiscal Year in the Approved Budget for the
Pinnacle Project Company, (C) expenditures required to be made under Tax Equity Documents and Repowering Financing Documents
and (D) in connection with the Tax Equity Financing and the Repowering Financing Documents;

 

(xv)         Merge
or consolidate the Company or the Pinnacle Project Company or any other subsidiary of the Company with any Member or other Person
or entity, convert the Company or either Pinnacle Project Company or any other subsidiary of the Company to a general partnership
or other entity, or agree to an exchange of interests with any other Person, or acquire all or substantially all of the assets,
stock or interests of any other Person other than as contemplated by the Tax Equity Financing or the Repowering Financing Documents;

 

(xvi)        Compromise
or settle any lawsuit, administrative matter or other dispute where the amount the Company or the Pinnacle Project Company or any
other subsidiary of the Company may recover or might be obligated to pay, as applicable, is in excess of $[***] in the aggregate,
or which includes consent to the award of an injunction, specific performance or other equitable relief;

 

(xvii)       Admit
any additional Member to the Company except pursuant to the Tax Equity Financing or as permitted under Article IX hereof,
cause any additional member to be admitted to a Tax Equity Entity or the Pinnacle Project Company or any other subsidiary of the
Company except pursuant to the Tax Equity Financing, the Repowering Construction Financing and in accordance with the Pinnacle
Project Company’s (or such other subsidiary’s) operating agreement, or otherwise issue, or permit the issuance of,
any additional membership interests in the Company or the Pinnacle Project Company or any other subsidiary of the Company except
pursuant to the Tax Equity Financing, the Repowering Construction Financing and except in accordance with the Pinnacle Project
Company’s (or other subsidiary’s) operating agreement; provided that the Manager may not permit the issuance of additional
Class A Units at any time during the term of this Agreement without having first obtained the Consent of the Class A
Members;

 

(xviii)      (A) Hire
any employees, enter into or adopt any bonus, profit sharing, thrift, compensation, option, pension, retirement, savings, welfare,
deferred compensation, employment, termination, severance or other employee benefit plan, agreement, trust, fund, policy or arrangement
for the benefit or welfare of any directors, officers or employees of the Company or the Pinnacle Project Company or any other
subsidiary of the Company, as the case may be or (B) transfer any Company Assets or the Assets of the Pinnacle Project Company
or other subsidiary of the Company to satisfy any liabilities of any Class A Member or its Affiliates arising from ERISA;

 

(xix)         Change
the Company’s or the Pinnacle Project Company’s or any other subsidiary of the Company’s methods of accounting
as in effect on the Effective Date, except as required by GAAP, or take any action, other than reasonable and usual actions in
the ordinary course of business or specifically contemplated under the Tax Equity Documents or the Repowering Financing Documents
to which it is a party, with respect to accounting policies or procedures, unless required by GAAP;

 

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(xx)          Take
any action that would result in a material breach or an event of default, or that would permit or result in the acceleration of
any obligation or termination of any right, under any Transaction Document, which acceleration or termination would cause a Material
Adverse Effect.

 

(xxi)         Enter
into: (A) any Transaction Document (other than a power purchase agreement) or any amendment, modification, waiver or termination
of any Transaction Document, or organizational document of the Pinnacle Project Company or any other subsidiary of the Company,
including the Pinnacle Project Company’s or other subsidiary’s limited liability company agreement, or any Licenses
or Permits, (B) any purchase order, notice to proceed or similar arrangement contemplated under any Repowering Project Document,
(C) any substitution or replacement of any such document, (D) any Additional Project Document not contemplated by the
then current Approved Budget or that could reasonably be expected to have a Material Adverse Effect; (E) any new agreement
with an Affiliate other than in accordance with this Agreement or amend any economic provision or otherwise materially amend any
existing contract with an Affiliate; or (F) any power purchase agreement which involves more than $[****] or, any material
amendment, modification, substitution, extension or replacement of such power purchase agreement;

 

(xxii)        Remove
the Master Services Provider or appoint a new Person to act in a similar capacity to the Master Services Provider or consent to
or allow the assignment by the Master Services Provider of the agreement pursuant to which the Master Services Provider provides
services to the Company, or any of its rights or obligations thereunder, other than to an Affiliate;

 

(xxiii)       Allow
the total proceeds borrowed, including, without limitation, borrowings under the Repowering Financing Documents, to at any time
exceed an amount equal to the lesser of (a) $[***] and (b) the Construction Budget for approved by the lenders under
the Repowering Financing Documents. The determination of the Construction Budget Project shall be made at the time of the financial
close of the Pinnacle Project.

 

(xxiv)       Use
any insurance proceeds received by the Company or the Pinnacle Project Company following damage to Company property or the Pinnacle
Project Company property for any purpose other than restoration or replacement of such property, or, in the case of business interruption
or similar insurance, to be treated as Available Cash Flow; provided, that the Consent of the Members shall not be required to
use any insurance proceeds as required by the Repowering Financing Documents (as reasonably determined by the Manager);

 

(xxv)        Cause
the Company or cause the Company to cause the Pinnacle Project Company or any other subsidiary of the Company to change its respective
legal form, recapitalize, liquidate, wind up or dissolve (other than in accordance with this Agreement), or declare itself Bankrupt;

 

(xxvi)       Cause
the Company or the Pinnacle Project Company or any other subsidiary of the Company to hire legal advisors to act on such company’s
behalf; provided that all legal advisors currently used by such company as of the Effective Date are approved;

 

(xxvii)      Enter
into any agreement prohibiting or restricting the ability of the Company or the Pinnacle Project Company or any other direct or
indirect subsidiary of the Company from authorizing or making any distributions to Members (or the members of such entity), other
than the Repowering Financing Documents and the Tax Equity Documents; or

 

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(xxviii)     Except
as otherwise expressly provided in this Agreement, pay, grant, authorize or approve the payment of any compensation to or for the
Manager for serving in his or her capacity as Manager.

 

(c)            Prior
to the dissolution of the Company under the terms of this Agreement, the Manager shall devote such time and effort to the Company’s
business as may be necessary to adequately promote the interests of the Company and the mutual interests of the Members.

 

(d)            With
respect to any actions described in this Agreement that require the Consent of the Members (including, without limitation, those
actions set forth in this Section 6.2), the Manager shall use commercially reasonable efforts to request such consent or approval
from each Member no later than thirty (30) days prior to the proposed date for the taking of such action, and such request shall
include, to the extent applicable, copies of all material documentation relating to the proposed action. The failure of any Member
to deliver a response either approving or disapproving any action requiring the Consent of the Members within the thirty (30) day
period after such Member’s receipt of such request shall be deemed such Member’s consent to the proposed action.

 

Section 6.3     Removal
and Election of Manager.

 

(a)            The
Manager shall not have a right to resign unless and until a successor manager is elected or appointed as specified under this Section 6.3
and assumes the obligations of the Manager under this Agreement. If the Manager so resigns, the resigning Manager shall reasonably
cooperate with the Members and the replacement Manager to effect an orderly transition of responsibilities and duties to the replacement
Manager. Such replacement Manager shall be elected by a majority vote of the Class B Members, subject to subparagraph (b) below.

 

(b)            The
Manager will be subject to removal as Manager by Consent of the Members (excluding any Member who is the Manager or an Affiliate
of the Manager), if the Manager (in its capacity as Manager or its capacity as Partnership Representative) (i) has engaged
in gross negligence, willful misconduct or fraud, (ii) has intentionally violated any Law, or (iii) has performed any
action that is in breach or violation of this Agreement or any Transaction Document to which it is a party and that has or is reasonably
expected to have a Material Adverse Effect; provided, however, that in the case of this clause (iii), for any breach or violation
other than a failure to make a cash distribution when due under this Agreement, the Manager shall have the opportunity to cure
such breach or violation within thirty (30) days of receiving notice of such breach; provided, further, that if such breach cannot
be cured within such period, and the Manager is proceeding with diligence to cure such breach, the 30-day cure period shall be
extended by an additional sixty (60) days, for a total cure period of ninety (90) days; provided, further, that during such cure
period the Manager may continue as the Manager (and Partnership Representative). In addition, the Manager shall be removed automatically
without further vote, action or notice by any Member in the event of a Bankruptcy of the Manager, the Partnership Representative
(if it is an Affiliate of the Manager) or any Member who is an Affiliate of the Manager, unless those Members who are not Affiliates
of the Manager elect otherwise upon written notice.

 

(c)            If
the Manager is removed under subparagraph (b) above, the Consent of the Members (excluding any Member who is the Manager or
an Affiliate of the Manager) shall be required to elect or appoint a successor Manager to succeed to all the rights, and to perform
all of the obligations, set forth for the Manager hereunder. If the Manager is so removed, the removed Manager shall reasonably
cooperate with the Members and the replacement Manager to effect an orderly transition of responsibilities and duties to the replacement
Manager. The Person selected as the successor Manager shall be an entity that is experienced and reputable in operating wind facilities
similar to the Pinnacle Project and shall execute a counterpart to this Agreement.

 

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Section 6.4     Indemnification
and Exculpation.

 

(a)            To
the fullest extent permitted by Law, the Manager and the Partnership Representative and their respective officers, directors, employees
and agents shall be exculpated from, and the Company shall indemnify, from Available Cash Flow, such Persons from and against,
all Damages any of them incur by reason of any act or omission performed or omitted by such Person in a manner reasonably believed
to be consistent with its rights and obligations under Law and this Agreement; [***].

 

(b)            To
the fullest extent permitted by Law, reasonable and documented expenses to be incurred by an indemnified Person under this Section 6.4
shall, from time to time, be advanced by the Company prior to the final disposition of any matter upon receipt by the Company of
an undertaking from a Person with sufficient credit capacity to repay such amount if it shall be determined that the indemnified
Person is not entitled to be indemnified under this Agreement.

 

(c)            Provided
that the same is reflected in the Approved Budget, the Company may purchase and maintain insurance covering Damages as may be asserted
or awarded against the Persons indemnified hereunder, whether or not the Company would have the obligation to indemnify the Person
against liability for such Damages under the provisions of this Section 6.4.

 

(d)            Monies
to fund the indemnification obligations hereunder (including advances under Section 6.4(b)) shall, (i) until the Tax
Equity Funding Date, be sourced from Available Cash Flow, and (ii) thereafter shall be sourced by Capital Contributions from
the Members pro rata based on their respective Specified Share (and shall not limit the ability of the Company to make distributions
from Available Cash Flow pursuant to Section 5.1(a)).

 

Section 6.5     Company
Reimbursement; Fund Formation Expenses. The Company shall directly pay and reimburse the Manager for all Company
Reimbursable Expenses incurred from time to time.

 

Section 6.6     Officers.

 

(a)            Number.
The officers of the Company shall be a President, a Secretary and any number of Vice Presidents or Assistant Secretaries or other
officers (each an “Officer” and collectively “Officers”) as may be elected by the Manager.
Any two (2) or more offices may be held by the same person.

 

(b)            Election
and Term of Office. The Officers of the Company shall be elected or appointed by the Manager. Vacancies may be filled or new
offices created and filled by the Manager. Each Officer shall hold office until his successor shall have been duly elected or appointed
or until his death or until he shall resign or shall have been removed in the manner hereinafter provided. Election of an Officer
shall not of itself create contract rights.

 

(c)            Vacancies.
A vacancy in any office because of death, resignation, removal, disqualification or otherwise, may be filled by the Manager for
the unexpired portion of the term.

 

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(d)            Removal.
Any Officer elected or appointed by the Manager may be removed by the Manager whenever in its judgment the best interests of the
Company would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed.

 

(e)            Duties;
Standard of Care. Each Officer is only authorized to perform the duties specifically enumerated herein or as may be specifically
assigned to such Officer in accordance with the terms of this Agreement. Each Officer shall be subject to the same standard of
care applicable to the Manager as set forth in Section 6.2(a) in carrying out any of their relevant duties whatsoever
and shall be required to obtain the necessary prior consents for actions specified in Section 6.2(b).

 

(f)            Indemnification
of Officers. To the greatest extent allowed by the Act, the Officers shall not be liable to the Company or any Member because
any taxing authorities disallow or adjust income, deduction or credits in the Company tax returns. Furthermore, the Officers shall
not have any liability for the repayment of the capital contributions of any Member. In addition, the doing of any act or the omission
to do any act by the Officers the effect of which may cause or result in loss or damage to the Company, if done in good faith and
otherwise in accordance with the terms of this Agreement, shall not subject the Officers or their successors and assigns to any
liability to the greatest extent allowed by the Act. To the greatest extent allowed by the Act, the Company will indemnify and
hold harmless the Officers and their successors, delegees and assigns from any claim, loss, expense, liability, action or damage
resulting from any such act or omission, including reasonable costs and expenses of litigation and appeal of such litigation (including
reasonable fees and expenses of attorneys engaged by any of the Officers in defense of such act or omission), but the Officers
shall not be entitled to be indemnified or held harmless due to, or arising from, their fraud, gross negligence, bad faith or willful
malfeasance. Provided that the same is reflected in the Approved Budget, the Company may purchase and maintain insurance covering
liability as may be asserted or awarded against the Persons indemnified hereunder, whether or not the Company would have the obligation
to indemnify the Person against the liability under the provisions hereof. Notwithstanding anything herein to the contrary, (i) the
foregoing indemnification is limited to liabilities that are not already covered by any existing insurance policy (whether such
policy is owned by the Company or any Affiliate), (ii) such indemnity will be funded from Available Cash Flow until the Tax
Equity Funding Date, and (ii) thereafter shall be sourced by Capital Contributions from the Members pro rata based
on their respective Specified Share and shall not limit the ability of the Company to make distributions from Available Cash Flow
pursuant to Section 5.1(a).

 

Section 6.7     Approved
Budgets. The Manager shall prepare or cause to be prepared for each Fiscal Year of the Company and the Pinnacle
Project Company an operating budget on a consolidated basis setting forth the anticipated revenues and expenses of the
Company and the Pinnacle Project Company for such Fiscal Year. For a succeeding Fiscal Year (commencing with the fiscal year
ending December 31, 2020), the Manager shall, not later than the first day of the month preceding the month in which the
then current Fiscal Year ends (currently November 1), submit the proposed operating budget for such succeeding Fiscal
Year to the Members for their review. If the aggregate expense amount reflected in the proposed operating budget is not more
than [***]% above the annual spending projected in the Base Case Model for the applicable Fiscal Year and [***]% the
aggregate expense amount reflected in the Approved Budget for the previous Fiscal Year (and in each case, does not include
expenditures exceeding $[***] in aggregate of a type not included in the Base Case Model for the applicable Fiscal Year or in
the Approved Budget for the previous Fiscal Year, as the case may be), then the Consent of the Members shall not be required
and such proposed operating budget shall be deemed approved by all of the Members. If such Consent of the Members is required
and if either the Consent of the Members is received or if no Member objects to such proposed operating budget by the last
day of the month preceding the month in which the then current Fiscal Year ends (currently November 30), then not later
than such date, such operating budget shall be deemed approved by all of the Members (each budget as attached hereto,
approved or deemed approved, an “Approved Budget”). If the Consent of the Members is required and not
obtained as provided above, then the Manager shall prepare or cause to be prepared a revised operating budget, which shall be
submitted to the Members for their approval as set forth in the preceding sentences, and, upon final approval of such
operating budget by the Consent of the Members, such budget shall become an Approved Budget hereunder. To the extent that
amounts relating to any items of a proposed budget are not approved, the corresponding amounts for the items in the previous
Fiscal Year’s Approved Budget will continue as part of the Approved Budget for such year, until a more current amount
for such item is approved in accordance with this Section 6.7. The Manager may from time to time during the Fiscal Year
propose to amend the Approved Budget to decrease expected expenditures, or, subject to Section 6.2(b)(xiv), to increase
expected expenditures and as so amended, any such amended budget shall be the Approved Budget hereunder.

 

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ARTICLE 7

RIGHTS AND RESPONSIBILITIES OF MEMBERS

 

Section 7.1     General. The
rights and responsibilities of the Members shall be as provided in the Delaware Certificate, this Agreement and the Act.

 

Section 7.2     Member
Consent. Except as provided in Section 6.2(b) and as otherwise expressly provided in this Agreement, the
Consent of the Members shall constitute the approval by, or the authorization of, any action by or on behalf of the Company
that requires a vote, consent, approval or action of or an election by the Members; provided, that, without the prior written
approval of each Member adversely affected thereby, no such consent shall (a) modify the limited liability of a Member;
(b) require a Member to provide funds to the Company, by loan, contribution or otherwise (or amend any of the conditions
to making any loan or contribution); (c) alter the interest of any Member in Capital Accounts, Company Items, PTCs,
distributions of Available Cash Flow; or (d)  amend, supplement or otherwise modify Section 6.2(b), or this
Section 7.2, or, in each case, any of the definitions of capitalized terms used therein.

 

Section 7.3     Member
Liability.

 

(a)            To
the fullest extent permitted under the Act and any other applicable Law as currently or hereafter in effect, no Member shall have
any personal liability whatsoever, whether to the Company or to its creditors for the debts, obligations, expenses or liabilities
of the Company, whether arising in contract, tort or otherwise, which shall be solely the debts, obligations, expenses or liabilities
of the Company, or for any of its losses, in excess of the value of such Member’s Capital Account, except as expressly provided
herein.

 

(b)            A
Member shall be liable only to make its Capital Contributions as provided herein and, other than as specifically provided in Section 12.3,
shall not be required to restore a deficit balance in its Capital Account. Except as provided in Section 3.3 no Member shall
be required to make any additional contributions or to lend any funds to the Company. The failure of the Company to observe any
formalities or requirements relating to the exercise of its powers or management of its business or affairs under this Agreement
or the Act shall not be grounds for imposing personal liability on the Members or the Manager for liabilities of the Company.

 

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(c)            To
the fullest extent permitted by Law, each Member and its respective officers, directors, managers, employees and attorneys shall
be exculpated from, and the Company shall indemnify, defend and hold harmless such Persons from and against, all Damages from
Third Parties that result by virtue of the Member’s ownership of its Membership Interest; provided, however, that this indemnity
does not apply: (i) to Damages that are attributable to the proven gross negligence, willful misconduct or fraud of such
Person, violation of Law or breach of such Member’s obligations under this Agreement, or (ii) to a Member acting in
a capacity other than solely as a Member, in the event that any such Claim is asserted against any Member in its capacity in more
than one role (such as, for the avoidance of doubt, the Class A Member’s role as Member and Manager).

 

(d)            To
the fullest extent permitted by Law, reasonable and documented expenses actually incurred by an indemnified Person under this Section 7.3
shall, from time to time, be advanced by or on behalf of the Company from Available Cash Flow, prior to the final disposition of
any matter upon receipt by the Company of an undertaking from a Person with sufficient credit capacity to repay such amount if
it shall be determined that the indemnified Person is not entitled to be indemnified under this Agreement.

 

Section 7.4     Withdrawal. Except
as otherwise provided in this Agreement, no Member shall be entitled to: (a) voluntarily withdraw or resign from the
Company; (b) withdraw any part of such Member’s Capital Contributions from the Company; (c) demand the return
of such Member’s Capital Contributions; or (d) receive property other than cash in return for such Member’s
Capital Contribution.

 

Section 7.5     Member
Compensation. No Member shall receive any interest, compensation or drawing with respect to its Capital
Contributions or its Capital Account or for services rendered on behalf of the Company or otherwise in its capacity as a
Member, except as otherwise provided in this Agreement.

 

Section 7.6     Other
Ventures. Notwithstanding any other provision of this Agreement or any duty existing at law or in equity, the
Members and their respective Affiliates at any time and from time to time may engage in and possess interests in other
business ventures of any and every type and description, including other business ventures competitive with, or of the same
type and description as, the Company and the Pinnacle Project Company, independently or with others, as long as such venture
does not cause the Pinnacle Project Company to cease to hold any Energy Regulatory Approval or to become subject to
regulation under PUHCA, other than with respect to regulations pertaining to maintaining EWG status, in each case with no
obligation to offer to the Pinnacle Project Company, the Company, any Member or any of their respective Affiliates the right
to participate in, or share the results or profits of, those activities (even if those activities may be made possible or
more profitable by reason of the Company’s or the Pinnacle Project Company’s activities), except any activity
that would cause a Member to be a Related Party.

 

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Section 7.7     Confidential
Information.

 

(a)            With
respect to each of the Company, the Members and the Manager, except to the extent necessary for the exercise of its rights
and remedies and the performance of its obligations under this Agreement, the Company, such Member and the Manager will not
itself use or intentionally disclose (and will not permit the use or disclosure by any of its Affiliates, any of the
officers, directors or employees of it or its Affiliates (collectively, “Representatives”), or any of its
advisors, counsel and public accountants (collectively, “Advisors”)), directly or indirectly, any of the
terms and conditions of the Transaction Documents, this Agreement or other information in respect of the transactions
contemplated hereby (“Confidential Information”); provided, that (i) the Company, any such Member,
the Manager and its Affiliates, Representatives and Advisors may use and disclose Confidential Information to its Affiliates,
Representatives and Advisors and to the Company, any other Member, the Manager and its Affiliates, Representatives and
Advisors provided such use or disclosure is in connection with its administration of its interests under this Agreement,
(ii) the Company, any such Member, the Manager and its Affiliates, Representatives and Advisors may disclose
Confidential Information to any Governmental Authority having jurisdiction over the Company, such Member, the Manager or its
Affiliates or as may be required by law, (iii) the Company, any such Member, the Manager and its Affiliates,
Representatives and Advisors may use and disclose Confidential Information that (A) has been publicly disclosed or is
publicly known (other than by the Company, such Member, the Manager or any of its Affiliates, Representatives or Advisors in
breach of this Section 7.7), (B) has come into the possession of the Company, such Member, the Manager or
any of its Affiliates, Representatives or Advisors other than from the Company, another Member or a Person acting on such
other Member’s behalf or the Manager under circumstances not involving to the knowledge of the Company, such Member or
the Manager any breach of any confidentiality obligation, or (C) has been independently developed by the Company, such
Member, the Manager or any of its Affiliates, Representatives or Advisors without use of information obtained under this
Agreement, (iv) to the extent that such disclosure is (A) required by law, a subpoena or any other applicable legal
process or (B) by request of any Governmental Authority having jurisdiction over such Party or its Affiliates, any stock
exchange on which such Party’s or its Affiliates Securities are traded or any self-regulatory body having jurisdiction
over such Party (including, to the extent applicable, the Financial Industry Regulatory Authority, Inc.), the Company,
such Member, the Manager or its Affiliates may disclose Confidential Information provided that in such case the Company, such
Member and the Manager shall, unless otherwise prohibited by law, (1) give prompt notice to the Company, the other
Members or Manager that such disclosure is or may be required and (2) cooperate in protecting such confidential or
proprietary nature of the Confidential Information which must so be disclosed; provided that no such notification shall be
required in respect of any disclosure to FERC, any Energy Regulatory Authority or bank, insurance or financial industry
regulatory authorities having jurisdiction over the Company, such Member, the Manager or its Affiliates, (v) disclosures
to lenders, potential lenders, potential tax equity investors or other Persons providing financing to the Company or the
Pinnacle Project Company or any other subsidiary of the Company or to their respective representatives and advisors, the
Company, any Member, the Manager or its Affiliates and potential purchasers of equity interests in the Company, the Company,
any Member, the Manager or its Affiliates are permitted, any person to which such Member sells or offers to sell its
investment in the Company or any portion thereof, if such Persons have agreed to abide by the terms of this Section 7.7
or have otherwise entered into an agreement with restrictions on disclosure substantially similar to the terms of this
Section 7.7 (or in the case of advisors, are otherwise bound by professional or legal obligations of confidentiality),
(vi) the Company, any such Member, the Manager and its Affiliates, Representatives and Advisors may disclose
Confidential Information, and make such filings, as may be required by this Agreement or the Transaction Documents,
(vii) any Member which is an insurance company or an Affiliate thereof may disclose such information to the National
Association of Insurance Commissioners and any rating agency requiring access to its portfolio, (viii) any Member and
its Affiliates, Representatives and Advisors may disclose Confidential Information relating to the Pinnacle Project (but not
Confidential Information relating to any other Member) to lenders, potential lenders, potential tax equity investors or other
Persons providing financing to any Person developing or proposing to develop or construct the Pinnacle Project and potential
purchasers of equity interests in such Person or potential power or REC purchasers from such Persons, or to any Person in
connection with the operation of the Pinnacle Project if, in each case described in this clause (viii), such Persons have
agreed to abide by the terms of this Section 7.7 or have otherwise entered into a Contract with restrictions on
disclosure substantially the same (and for not less than two (2) years in duration) as the terms of this
Section 7.7 (or in the case of Advisors, are otherwise bound by professional or legal obligations of confidentiality),
and (ix) any such Member may disclose Confidential Information to the IRS or any state taxing authority in connection
with any communication regarding the tax consequences of the Pinnacle Project, the Pinnacle Project Company’s ownership
and operation of the Pinnacle Project or such Member’s ownership of an interest in the Company; provided that such
Member shall, as soon as practicable, notify the other Members of such disclosure, furnish a copy of any written material
provided to the IRS or any state taxing authority to the other Members and, if practicable, afford the other Members
reasonable opportunity to comment on the proposed disclosure (but for the avoidance of doubt the other Members will not have
the right to consent to such proposed disclosure). A Member’s obligations pursuant to this Article VII shall
survive the Transfer of its Units.

 

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(b)            The
foregoing obligations shall not apply to the tax treatment or tax structure of the transactions contemplated hereby and each Member
(and any employee, representative, or agent of any Member) may disclose to any and all Persons of any kind, the tax treatment and
tax structure of the transactions contemplated hereby and all other materials of any kind (including opinions or other tax analysis)
that are provided to any Member relating to such tax treatment and tax structure (all such information that may be disclosed being
the “Tax Information”). However, any such Tax Information is required to be kept confidential to the extent
necessary to comply with any applicable securities laws. The preceding sentences are intended to cause the transactions contemplated
hereby not to be treated as having been offered under conditions of confidentiality for purposes of Treasury Regulations Sections
1.6011 4(b)(3) and 301.6111 2(a)(2)(ii) and shall be construed in a manner consistent with such purpose. For purposes
of this provision, the Tax Information includes only those facts that may be relevant to understanding the purported or claimed
U.S. federal income tax treatment or tax structure of the transactions contemplated hereby and, to eliminate any doubt, therefore
specifically does not include information that either reveals or standing alone or in the aggregate with other information so disclosed
tends of itself to reveal or allow the recipient of the information to ascertain the identity of the Company or any Member or the
Class B Member (or potential member), or any other third parties involved in any of the transactions contemplated hereby or
any other potential transactions with any of the foregoing.

 

(c)            Except
as otherwise permitted by this Section 7.7, no Member shall include in a press release or otherwise disclose (other than as
required to be included in a filing to FERC, any Energy Regulatory Authority or any bank, insurance or financial industry regulatory
authority having jurisdiction over such Member, its affiliates or permitted transferees) the name of any Member as an equity investor
or potential equity investor or the name of any tax equity investor without the prior written consent of such Member or such tax
equity investor which consent shall not be unreasonably withheld.

 

(d)            If
the Company or any subsidiary thereof is required at any time to make any regulatory filing to the FERC or any Energy
Regulatory Authority that identifies by name, or otherwise relates specifically to, any Member or any of its affiliates or
permitted transferees, then the Company shall submit (or the Company shall cause its subsidiary to submit) an advance draft
of such regulatory filing to such Member or its affiliate or permitted transferee, as applicable, as early as practicable in
advance of the specified deadline imposed by FERC or such Energy Regulatory Authority or its regulations. Such Member (or its
affiliate or permitted transferee, as applicable) shall have the right to provide comments to such regulatory filing as it
relates to such Member (or its affiliate or permitted transferee), and the Company or its subsidiary shall incorporate or
accommodate, prior to submitting such filing, such comments timely received. A Member’s failure to promptly
provide such comments shall constitute approval of the making of such regulatory filing by the Company or subsidiary
thereof.

 

    	 	44	 

     

    

 

(e)            If
any Member is required at any time to make any regulatory filing (other than a filing to any bank, insurance or financial industry
regulatory authority having jurisdiction over such Member or its affiliates) that identifies by name, or otherwise relates specifically
to, any other Member, then such Member shall submit an advance draft of the relevant portions of such regulatory filing to such
other Member. Such other Member shall have the right to provide comments to such regulatory filing as it relates to such other
Member, and the Member making such filing shall incorporate or accommodate, prior to submitting such filing, such reasonable comments.
The Parties acknowledge and agree that from time to time a Member may be required to submit a regulatory filing or reporting that
may be subject to the Freedom of Information Act.

 

Section 7.8     Company
Property. All property owned by the Company, whether real or personal, tangible or intangible and wherever
located, shall be deemed to be owned by the Company, and no Member, individually, shall have any ownership of such
property.

 

ARTICLE 8

ADMINISTRATIVE AND TAX MATTERS

 

Section 8.1     Intent
for Income Tax Purposes. The Members intend that the Company be treated as a partnership for federal, state and
local income tax purposes and that it be operated in a manner consistent with such treatment, but that the Company not be
operated or treated as a “partnership” for any other purpose, including, but not limited to, Section 303 of
the Federal Bankruptcy Code, and the provisions of this Agreement may not be construed to suggest otherwise.

 

Section 8.2     Books
and Records; Bank Accounts; Company Procedures.

 

(a)            The
Company’s books of account shall be prepared and maintained in accordance with GAAP for the type of business of the Company.
The Manager shall cause to be kept, at the principal place of business of the Company, full, proper, complete and accurate ledgers
and other books of account and records of all receipts and disbursements and other financial activities of the Company in accordance
with prudent business practices and as required by Law, including the following documents:

 

(i)            A
copy of the Delaware Certificate and all certificates of amendment thereto, together with executed copies of any powers of attorney
pursuant to which any certificate has been executed;

 

(ii)            Copies
of the Company’s and the Pinnacle Project Company’s and each other Company subsidiary’s federal, state and
local income tax or information returns and reports, if any, for the six (6) most recent Taxable Years or, if
later, until the statute of limitations expires on any IRS, state, or local tax audit of such returns or reports;

 

(iii)            Copies
of this Agreement and all amendments thereto;

 

(iv)            Copies
of the formation documents and operating agreement of the Pinnacle Project Company and each other subsidiary of the Company;

 

    	 	45	 

     

    

 

(v)            Financial
statements, including a balance sheet and statements of income (or loss), of the Company for, to the extent applicable, each of
the six (6) most recent Fiscal Years, including quarterly and monthly internal financial statements of the Company;

 

(vi)            The
Company’s books and records for at least the current and, to the extent applicable, the past three (3) Fiscal Years;

 

(vii)            the
Register;

 

(viii)            minutes
of meetings of the Members; and

 

(ix)            copies
of all Transaction Documents.

 

(b)            The
books of account of the Company shall be (i) maintained on the basis of a Fiscal Year and (ii) maintained on an accrual
basis in accordance with GAAP.

 

(c)            Funds
of the Company shall be deposited in such banks or other depositories, and withdrawals from any such depository shall be made as
determined by the Manager. All monies in bank accounts shall be retained in cash or invested in Permitted Investments.

 

(d)            The
Manager shall cause the Company to maintain its existence separate and distinct from any other Person, including causing the Company
to take the following actions:

 

(i)            maintaining
in full effect its existence, rights and franchises as a limited liability company under the laws of its jurisdiction of formation
and obtaining and preserving its qualification to do business in each jurisdiction in which such qualification is or will be necessary
to protect the validity and enforceability of its applicable operating agreement and each other Contract necessary or appropriate
to properly administer its applicable operating agreement and permit and effectuate the transactions contemplated in its applicable
operating agreement;

 

(ii)            conducting
its affairs separately from those of the Manager and its Affiliates and maintaining accurate and separate books and records;

 

(iii)            acting
solely in its own limited liability company name and not that of any other Person, including the Manager and its Affiliates;

 

(iv)            not
holding itself out as having agreed to pay, or as being liable for, the obligations of any other Person;

 

(v)            not
commingling its Assets with those of any other Person;

 

(vi)            observing
all limited liability company formalities required in this Agreement and the Delaware Certificate;

 

(vii)            paying
the salaries of its own employees, if any;

 

(viii)            not
acquiring obligations of its Members, the Manager or their respective Affiliates;

 

    	 	46	 

     

    

 

(ix)            holding
itself out as a separate entity; and

 

(x)            correcting
any known misunderstanding regarding its separate identity.

 

Section 8.3     Information
and Access Rights. The Members and their respective agents also will have the right, at their sole risk and
expense and upon reasonable prior notice to the Manager, to inspect the Pinnacle Project, and the Company’s Assets at
any time and to audit, examine and make copies of all relevant documents, books and records of the Company no more than twice
per Taxable Year. Any such inspection will be conducted during normal business hours and so as not to unreasonably interfere
with the business of the Manager. The foregoing rights may be exercised through any agent or employee of such Member
designated in writing by it or by an independent public accountant, engineer, attorney or other consultant so designated. Any
inspection of Pinnacle Project shall be subject to all restrictions and conditions included in the operating agreement of the
Pinnacle Project Company.

 

Section 8.4     Reports. The
Manager shall, at the Company’s expense, deliver, or caused to be delivered, to each Member, the following reports,
information and consolidated financial statements for the Company and its consolidated subsidiaries, at the times indicated
below:

 

(a)            Annually,
within [***] days after the end of each Fiscal Year (and, for the avoidance of doubt, the first such Fiscal Year for which financial
statements shall be delivered shall be the Fiscal Year ending December 31, 2020), unaudited consolidated financial statements
for the Company and its consolidated subsidiaries prepared on a GAAP basis effective as of the end of the immediately-preceding
year, including a consolidated balance sheet and consolidated statements of income, Members’ equity and changes in cash flows;

 

(b)            Quarterly
within [***] days after the end of each Fiscal Quarter other than the fourth Fiscal Quarter, unaudited quarterly consolidated
financial statements of the Company and its consolidated subsidiaries for the Fiscal Quarter and portion of the Fiscal Year
then ended (including a balance sheet, income statement, statement of cash flows and statement of changes in Member’s
capital schedule) all in reasonable detail and fairly presenting the consolidated financial position of the Company as
of the end of such quarter, prepared on a GAAP basis, subject to lack of footnotes and normal year-end adjustment;

 

(c)            Promptly
following any request therefor, such other reports and information in the possession of the Manager as reasonably requested by
the Members and such other reports reasonably requested by and paid for by the requesting Member to the extent external costs are
incurred with respect to the preparation of such reports;

 

(d)            Promptly
after such delivery, copies of all material reports or (without duplication of any other provisions of this Section 8.4) material
notices delivered to or by the Company or the Pinnacle Project Company or any other subsidiary of the Company under any Transaction
Document;

 

(e)            [***]
reports detailing for the Company and the Pinnacle Project (i) total expenditures, including Company Reimbursable Expenses,
incurred by the Company; (ii) the amount of loan funds remaining under the Repowering Construction Financing; (iii) the
amount of Capital Contributions of each Member expended and projected to be required in the ensuing ninety (90) day period; and
(iv) the total equity percentages held in the Company by each of the Members at that time and as are projected based upon
the aforesaid projected Capital Contributions; and

 

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(f)            Within
thirty (30) days after renewal, certificates of insurance evidencing fire, liabilities, workers’ compensation and other forms
of insurance owned or held by or on behalf of the Company or the Pinnacle Project Company, and promptly following receipt, any
notices of nonpayment of premium, nonrenewal or cancellation; and

 

(g)            [***],
a copy of: (i) any amendment, modification, waiver or termination of any Transaction Documents, (ii) any new, or substitution
or replacement of a Transaction Document; (iii) any new Contract between the Company or the Pinnacle Project Company or any
other subsidiary of the Company and an Affiliate thereof and any amendment or modification of any existing Contract between the
Company or the Pinnacle Project Company or any other subsidiary of the Company and an Affiliate thereof; and (iv) any new
Contract having a term in excess of one year, or providing for payments by, or revenues to, the Company or the Pinnacle Project
Company or any other subsidiary of the Company [***].

 

Section 8.5     Permitted
Investments.

 

(a)            All
cash of the Company may only be invested and reinvested in one of the following investment alternatives (“Permitted Investments”):

 

(i)            Direct
obligations of the United States of America (including obligations issued or held in book-entry form on the books of the Department
of the Treasury of the United States of America) or obligations the timely payment of the principal of and interest on which are
fully guaranteed by the United States of America;

 

(ii)            Obligations,
debentures, notes or other evidence of Indebtedness issued or guaranteed by any of the following: Export-Import Bank of the United
States, Federal Housing Administration or other agency or instrumentality of the United States;

 

(iii)            Interest-bearing
demand or time deposits (including certificates of deposit) that are either (A) insured by the Federal Deposit Insurance Corporation,
or (B) held in banks and savings and loan associations, having general obligations rated at least “A-” or equivalent
by S&P and Moody’s, or if not so rated, secured at all times, in the manner and to the extent provided by Law, by collateral
security described in clauses (i) or (iii) of this Section 8.5(a), of a market value of no less than the amount
of moneys so invested;

 

(iv)            Obligations
of any state of the United States or any agency or instrumentality of any of the foregoing which are rated at least “AA”
by S&P or at least “Aa” by Moody’s;

 

(v)            Commercial
paper rated (on the date of acquisition thereof) at least “A-1” or “P-1” or equivalent by S&P or Moody’s,
respectively (or an equivalent rating by another nationally recognized credit rating agency of similar standing if neither of such
corporations is then in the business of rating commercial paper), maturing not more than ninety (90) days from the date of creation
thereof but excluding any such commercial paper issued by any Member or any Affiliate of the Manager;

 

(vi)            Money
market mutual funds that are registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as
amended, and operated in accordance with Rule 2a-7 and that at the time of such investment are rated “Aaa” by
Moody’s and/or “AAA” by S&P, including such funds for which the Trustee or an affiliate provides investment
advice or other services, each of which must have capital in excess of $[***] and at no point in time will aggregate investments
under this Section 8.5(a)(vi) constitute more than [***]% of any such fund’s capital; or

 

    	 	48	 

     

    

 

(vii)            Any
other investments agreed to by the Members and the Manager.

 

Section 8.6     Tax
Elections.

 

(a)            The
Manager shall make the following federal income tax elections on the appropriate Company tax returns:

 

(i)            To
the extent permitted under Code Section 706, to elect the calendar year as the Company’s Taxable Year;

 

(ii)            To
elect the accrual method of accounting;

 

(iii)            To
elect to amortize any organizational and start-up expenses of the Company ratably over a period of one hundred eighty (180) months
as permitted by Code Section 709(b); and

 

(iv)            If
a valid election to adjust the basis of the Company’s properties under Code Section 754 is not already in effect, to
elect and to reelect, as necessary, pursuant to Code Section 754, to adjust the basis of the Company’s properties, including
for any Taxable Year in which a distribution of the Company’s property as described in Code Section 734 occurs, or a
transfer of a Membership Interest as described in Section 743 of the Code occurs.

 

The Manager shall not make, or cause the
Company or the Pinnacle Project Company or any other subsidiary of the Company (to the extent the Company has (directly or indirectly)
management authority for the Pinnacle Project Company or for such subsidiary) to make, any tax election for the Company or the
Pinnacle Project Company or any other subsidiary of the Company, except as otherwise provided herein, without the Consent of the
Members if such tax election would materially affect the economic consequences to the Class A Members as set forth in the
Base Case Model. The Manager, with the Consent of the Members, may elect to extend the time for filing any Company tax return as
provided for under the Code and applicable state statutes. Neither the Company nor any Member may make an election for the Company
to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions
of applicable state Law. No Member, Manager, officer or agent of the Company is authorized to, or may, file IRS Form 8832
(or alternative or successor form) to elect to have the Company or the Pinnacle Project Company or any other subsidiary of the
Company classified as an association taxable as a corporation for federal income tax purposes under Treasury Regulations Section 301.7701-3.
The Manager shall, in addition, affirmatively take such action within its control as may be necessary or required to maintain the
status of the Company as a partnership for federal, state and local income tax purposes.

 

Section 8.7     Partnership
Representative and Company Tax Filings.

 

    	 	49	 

     

    

 

(a)            The
Class A Member is hereby appointed by the Members as the initial “partnership representative” of the Company pursuant
to Section 6223(a) of the Code (the “Partnership Representative"). In the event of resignation or removal
of Manager pursuant to Section 6.3, the replacement Manager shall nominate a Member to become the new Partnership Representative
and such Member shall become the new Partnership Representative. In the event of any pending tax action, investigation, claim or
controversy involving the Company which proposes or may result in an adjustment to any item reported on a federal tax return, the
Partnership Representative, shall keep the other Members fully and timely informed by written notice of any audit, administrative
or judicial proceedings, meetings or conferences with the IRS or other similar matters that come to its attention in its capacity
as Partnership Representative. Furthermore, the Members shall have the right to review and comment on any submissions to the IRS,
and attend and jointly participate in any meetings or conferences with the IRS at their own expense. Each Member agrees to promptly
provide to the Partnership Representative any information requested by the Partnership Representative so as to enable the Company
to make any election under Section 6225 or 6226 of the Code, comply with any documentation requirements in connection with
any such election, and modify any “imputed underpayment” within the meaning of Code Section 6225.

 

(b)            The
Partnership Representative shall not take any action contemplated by Code Sections 6225 through 6234 unless the Partnership Representative
has first given the Members timely written notice of the contemplated action. For any issue or matter relating to any Taxable Year,
the Partnership Representative shall not, without the consent of each Member,

 

(i)            commence
a judicial action with respect to a federal income tax matter or appeal any adverse determination of a judicial tribunal; (ii) enter
into a settlement agreement with the IRS relating to any Company Item for any Taxable Year; (iii) file any request contemplated
in Sections 6225 and 6234 of the Code; or (iv) enter into an agreement extending the period of limitations with respect to
the Company. Any cost or expense incurred by the Partnership Representative in connection with its duties, including, if relevant,
the preparation for or pursuance of administrative or judicial proceedings, shall be paid by the Company.

 

(c)            Any
taxes, penalties, and interest payable by the Company or any fiscally transparent entity in which the Company owns an interest
under Code Sections 6221 through 6235 will be treated as specifically attributable to the Members, and the Partnership Representative
will use reasonable best efforts to allocate the burden of (or any diminution in distributable proceeds resulting from) any such
taxes, penalties or interest to those Members to whom such amounts are specifically attributable (whether as a result of their
status, actions, inactions or otherwise), as determined by the Partnership Representative; provided, however, that in the event
a Member disagrees with the Partnership Representative's allocation of the burden of (or any diminution in distributable proceeds
resulting from) any such taxes, penalties or interest, then the Members and the Partnership Representative shall jointly select
an accounting firm to review and determine the appropriate allocation, which allocation shall be binding on the Partnership Representative
and the Members. In connection with the foregoing, to the extent that the Company is assessed amounts under Section 6221(a) of
the Code, each current or former Member to which the assessment relates will remit to the Company, within thirty (30) days’
written notice by the Partnership Representative, an amount equal to such Member’s allocable share of the assessment, including
such Member’s allocable share of any interest imposed on the Company.

 

(d)            Tax
Returns.

 

(i)            Preparation
of Tax Returns. The Partnership Representative shall prepare, or cause to be prepared by the Certified Public Accountant, and
timely file (on behalf of the Company) all federal, state and local tax returns required to be filed by the Company. Each Member
shall furnish to the Partnership Representative all pertinent information in its possession relating to the Company’s operations
that is reasonably necessary to enable the Company’s tax returns to be timely prepared and filed.

 

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(ii)            Furnishing
Returns. The Partnership Representative shall use commercially reasonable efforts to furnish to the Members, (A) by
no later than March 10th of each year, an estimate of all items of Company income, gain, loss, deduction, and credit
(including PTCs) of the Company and the Members’ respective allocable shares thereof expected by the Partnership
Representative to be reported on the Tax Return to be filed by the Partnership Representative for the immediately preceding
Taxable Year, and (B) by no later than June 30 of each Taxable Year (or, if earlier, thirty (30) days prior
to the date on which the Partnership Representative intends to file the Tax Return), the Tax Return proposed to be filed by
the Partnership Representative.

 

(iii)            Costs
of Preparation. The Company shall bear the costs of the preparation and filing of its returns, including the fees of the independent
public accounting firm.

 

(e)            The
provisions of this Article VIII will survive the termination of the Company or the termination of any Member’s interest
in the Company and will remain binding on the Member for the period of time necessary to resolve with the IRS or other federal
tax agency any and all federal income tax matters relating to the Company that are subject to Code Sections 6221 through 6235.

 

(f)            Additional
Requirements for an Indemnified Tax Claim.

 

(i)            The
Partnership Representative will notify the other Members of (A) any written communication it receives from the IRS, the Pinnacle
Project Company, any other subsidiary of the Company, or a Tax Equity Entity that, if sustained may require a Member to make a
contribution to the Company or otherwise indemnify another Member or any counterparty to any Tax Equity Document or Pinnacle Project
Company (an “Indemnified Tax Claim”).

 

(ii)            For
any issue or matter relating to any Taxable Year, the Partnership Representative shall not, without the consent of each Member,
(i) control any IRS audit (including selection of counsel); (ii) commence a judicial action or appeal any adverse determination
of a judicial tribunal; or (iii) enter into a settlement agreement with the IRS, with respect to an Indemnified Claim.

 

Section 8.8     Financial
Accounting. Each Member may report the transactions contemplated hereby for financial accounting purposes in such
manner as the Member and its accountants may determine appropriate.

 

Section 8.9     Membership
Interest Legend.

 

(a)            Until
(i) the securities representing ownership of membership interests in the Company are effectively registered under the Securities
Act, or (ii) the holder of such securities delivers to the Company a written opinion of counsel of such holder to the effect
that such legend is no longer necessary under the Securities Act, the Company will cause each certificate representing its securities
to be stamped or otherwise imprinted with the following legend:

 

THE MEMBERSHIP INTEREST REPRESENTED BY
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAW OF ANY STATE.
SUCH MEMBERSHIP INTEREST MAY NOT BE SOLD OR TRANSFERRED UNLESS SUBSEQUENTLY REGISTERED OR UNLESS AN EXEMPTION FROM REGISTRATION
IS AVAILABLE.

 

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(b)            The
Company will also cause each certificate representing its securities to be stamped or otherwise imprinted with the following legend:

 

THE MEMBERSHIP INTEREST AND UNITS REPRESENTED
BY THIS CERTIFICATE ARE, AND SHALL BE, FOR ALL PURPOSES, “CERTIFIED SECURITIES” UNDER AND GOVERNED BY ARTICLE 8
(INCLUDING SECTION 8 103(c) THEREOF) AND ALL OTHER PROVISIONS OF THE UNIFORM COMMERCIAL CODE IN EFFECT FROM TIME
TO TIME IN THE STATE OF DELAWARE.

 

Section 8.10     Representations,
Warranties and Covenants of the Members. Each Member, severally but not jointly, represents, warrants, and with
respect to clauses (f) and (g) below, covenants to the Company and each other Member with respect to itself only,
that: (I) (x) the following statements are true and correct as of, with respect to the Member, the Effective Date,
(y) the following statements are true and correct as of, with respect to any other Person hereafter admitted as a Member
pursuant to this Agreement, the date such Person is so admitted as a Member, and (II) with respect to clauses
(f) and (g) below, shall be true and correct at all times that such Person is a Member:

 

(a)            It
is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization.

 

(b)            It
has the full right, power and authority to perform its obligations hereunder.

 

(c)            The
execution and delivery of this Agreement by the Member and the consummation by such Member of the transactions contemplated hereby
have been duly authorized by all necessary entity action required on the part of such Member, its respective members and their
respective managing members (as applicable). This Agreement has been duly executed and delivered by such Member. This Agreement
is a legal valid and binding obligation of such Member enforceable against it in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally and by general
equitable principles.

 

(d)            It
has such sophistication, knowledge and experience in financial and business matters that it is capable of evaluating the merits,
risks and suitability of entering into the Transaction. It is acquiring its Membership Interest for its own account and not as
a nominee or agent. It understands its Membership Interest have not been, and will not be, registered under the Securities Act
and are being acquired in a transaction not involving a public offering by reason of a specific exemption from the registration
provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of each Member’s
investment intent and the accuracy of the Members’ respective representations as expressed herein. It understands that no
public market now exists for the Membership Interests or any of the securities of the Company and that neither the Company nor
any Member or Affiliate thereof has made any assurances that a public market will ever exist for the Membership Interests or the
Company’s securities.

 

(e)            It
has discussed the Transaction and the accounting and tax treatment that it intends to accord the Transaction with its
independent advisors. It is solely responsible for deciding to enter into the Transaction and has not relied on any other
party (save for any representations made in this Agreement), other than its independent advisors, in respect of the
accounting or tax treatment to be applied to the Transaction, or the overall suitability of the Transaction. It is an
 “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) of the Securities Act,
and is able to bear the economic risk of losing its entire investment in the Company.

 

    	 	52	 

     

    

 

(f)            It
will report the Transaction in accordance with this Agreement and its own applicable regulatory requirements, including the accounting
and tax treatment to be accorded to the Transaction.

 

(g)            It
is not now and it shall not become a Disqualified Entity or Related Party.

 

(h)            That
no part of the aggregate Capital Contributions made by such Member and used by such Member to acquire any Units, constitutes Assets
of any “employee benefit plan” within the meaning of Section 3(3) of the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), or other “benefit plan investor” (as defined in U.S. Department
of Labor Reg. §§ 2510.3-101 et seq. and Section 3(42) of ERISA) or Assets allocated to any insurance company separate
account or general account in which any such employee benefit plan or benefit plan investor (or related trust) has any interest.

 

(i)            It
(or, if it is a disregarded entity for federal income tax purposes, the Person treated for federal income tax purposes as the owner
of its assets) is a “United States person” as defined in Section 7701(a)(30) of the Code and is not subject to
withholding under Section 1446 of the Code.

 

(j)            It
will not take any action or change its status if such action or change would result in a breach of a Company covenant or is otherwise
prohibited by the terms of the Transaction Documents.

 

Section 8.11     Survival. The
representations, warranties and covenants herein shall be continuing agreements of the Members that made them and shall
survive the termination of this Agreement and the Company.

 

ARTICLE 9

TRANSFERS OF INTERESTS; PURCHASE OPTION

 

Section 9.1     Transfer
Restrictions. A Member may not Transfer or Encumber all or any portion of its Membership Interest, except in
strict accordance with this Article IX. References in this Agreement to Transfers or Encumbrances of a “Membership
Interest” shall also refer to Transfers or Encumbrances of a portion of a Membership Interest. Any attempted Transfer
or Encumbrance of any Membership Interest, other than in strict accordance with this Article IX, shall be, and is hereby
declared, null and void ab initio. The Members agree that a breach of the provisions of this Article IX may cause
irreparable injury to the Company and to the other Members for which monetary damages (or other remedy at Law) are inadequate
in view of (a) the complexities and uncertainties in measuring the actual damages that would be sustained by reason of
the failure of a Member to comply with such provision and (b) the uniqueness of the Company’s business and the
relationship among the Members. Accordingly, the Members agree that the provisions of this Article IX may be enforced by
specific performance.

 

Section 9.2     Permitted
Transfers. A Member may Transfer all or part of its Units (and Membership Interest represented thereby) to a
Person that is not a Disqualified Transferee, provided that it satisfies the requirements of Section 9.3.
Notwithstanding anything in this Section 9.2 to the contrary, a Transfer upon foreclosure (or in lieu of such
foreclosure) under an Encumbrance on such Member’s Units permitted in accordance with Section 9.4 shall not
require the approval by the Consent of the Members.

 

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Section 9.3     Conditions
to Transfers. Except as otherwise provided in this Article IX, all Transfers permitted hereby shall be
subject to the satisfaction of the following requirements:

 

(a)            Transfer
Documents. The following documents shall have been delivered by the Transferring Member to the Manager and each other Member:

 

(i)            Notice.
Written notice not less than ten (10) Business Days prior to the proposed effective date of such Transfer.

 

(ii)            Transfer
Instrument. An instrument executed by the Transferring Member and the Transferee implementing the Transfer, in substantially
the form of Exhibit C hereto or such other form that is reasonably satisfactory to the Manager (which approval shall not be
unreasonably withheld or delayed) and which contains: (A) the notice address of the Transferee; (B) if applicable, the
Parent of the Transferee; (C) the number of Units as to each class of Membership Interest held by the Transferring Member
and held by the Transferee after the Transfer (which must total the number of Units as to each class of Membership Interest held
by the Transferring Member before the Transfer); (D) the Transferee’s ratification of this Agreement and its confirmation
that the representations and warranties in Article VIII applicable to it are true and correct with respect to it; (E) the
Transferee’s ratification of the Investment Documents to which the Transferring Member is a party and agreement to be bound
by them to the same extent that the Transferring Member was bound by them prior to the Transfer, including the assumptions of all
liabilities and obligations thereunder with respect to the Transferred Membership Interest; and (F) representations and warranties
by the Transferring Member and its Transferee that the Transfer and the admission of the Transferee as a Member is being made in
accordance with all applicable Law, and that the applicable conditions set forth in this Section 9.3 have been satisfied.
Upon any such Transfer, the Manager shall update Annex I and the Register appropriately, and shall provide such updated Register
to each Member.

 

(b)            Transaction
and Tax Equity Documents. Such Transfer does not breach any provision of any Transaction Document.

 

(c)            Applicable
Law; Securities Law. Such Transfer does not violate any provision of applicable Law, including, without limitation, applicable
securities Law.

 

(d)            Tax
Consequences.

 

(i)            Entity
Classification. Such Transfer does not cause the Company to be classified as an entity other than a partnership (or cause the
Company to be treated as a publicly traded partnership taxable as a corporation) for purposes of the Code.

 

(ii)            Related
Party. Such Transfer is not to a Person that is related within the meaning of Sections 168(h), 267(b) or 707(b)(1) of
the Code to the offtaker and the Transfer will not cause any Member to be related (within the meaning of Sections 168(h), 267(b) or
707(b)(1) of the Code) to the offtaker.

 

    	 	54	 

     

    

 

(iii)            Tax-Exempt
Entity. Such Transfer is not to a tax-exempt entity (or, if the transferee is a disregarded entity for federal income tax purposes,
the Person treated for federal income tax purposes as the owner of its assets is not a tax-exempt entity) (within the meaning of
Section 168(h)(2) of the Code) and such Transfer, in the reasonable determination of the Company, does not present a
material risk that any property of the Company or the Pinnacle Project Company or any other subsidiary of the Company would thereby
become “tax-exempt use property” within the meaning of Section 168(h)(6) of the Code.

 

(e)            Payment
of Expenses. The Transferring Member and the Transferee shall have paid or reimbursed the Company and each Member for all reasonable
costs and expenses incurred by the Company and such Members in connection with the Transfer and admission, on or before the tenth
(10th) day after the receipt by such Persons of the Company’s or any such Member’s invoice for the amount due.

 

(f)            No
Release. Such Transfer shall not effect a release of the Transferring Member from any liabilities to the Company or the other
Members arising from events occurring prior to or in connection with the Transfer.

 

(g)            Regulatory
Matters. Such Transfer shall not result in (a) the Pinnacle Project Company ceasing to be an EWG, (b) the Pinnacle
Project Company becoming subject to regulation under PUHCA other than with respect to regulations pertaining to maintaining EWG
status or (c) the Pinnacle Project Company ceasing to hold any other Energy Regulatory Approval.

 

(h)            Consents
and Permits. All consents, approvals and Licenses and Permits with respect to such Transfer shall have been obtained.

 

(i)            Investment
Company Act. Such Transfer does not require the Company to register as an “investment company” under the Investment
Company Act of 1940, as amended.

 

Section 9.4     Encumbrances
of Membership Interest. A Member may Encumber its Membership Interest, and any Parent of a Member may Encumber
such Membership Interest indirectly, so long as the instrument creating such Encumbrance provides that any Transfer upon
foreclosure of such Encumbrance (or Transfer in lieu of such foreclosure) shall, and the actual Transfer relating to such
Encumbrance (whether through foreclosure or in lieu of foreclosure) shall (a) not be to a Disqualified Transferee,
(b)  shall only be to a Qualified Transferee and (c) otherwise comply with the requirements of Section 9.3.
Notwithstanding the foregoing provisions of this Section 9.4 (a) the Members agree to act in a commercially
reasonable manner in connection with a financing in which a Member intends to grant a security interest in its Units and take
such actions (or refrain from taking such actions) as are reasonably requested by such Member to facilitate the closing of
such financing, including reasonably cooperating with such Member to enter into a consent to assignment, provided that such
consent to assignment is reasonably acceptable to the Members, with such Member’s financing parties and (b) such
Member may Encumber its Membership Interests pursuant to and subject to the terms of any such consent.

 

Section 9.5     Admission
of Transferee as a Member.

 

Any Transferee in a Transfer permitted
under Section 9.2 shall be admitted to the Company as a Member, with the Membership Interest so transferred to such Transferee,
to the extent that (a) the Transferring Member making the Transfer has granted the Transferee the Transferring Member’s
entire Membership Interest, or, in the case of Transfer of a part of such Member’s Membership Interest, the express right
to be so admitted as a Member and (b) such Transfer is effected in strict compliance with Section 9.3.

 

    	 	55	 

     

    

 

Section 9.6     [***].

 

Section 9.7     Terminated
Member. Upon the closing of a Transfer by a Member of all of its Membership Interest in the Company in accordance
with this Article IX, the following provisions shall apply to the Transferring Member (now a “Terminated
Member”):

 

(a)            The
Terminated Member shall cease to be a Member immediately upon the occurrence of such closing.

 

(b)            The
Terminated Member shall no longer be entitled to receive any distributions (including liquidating distributions pursuant to Section 12.2)
or allocations from the Company, and it shall not be entitled to exercise any voting or consent rights or to receive any further
information (or access to information) from the Company (other than any required tax information).

 

(c)            The
Terminated Member must pay (i) to the Company all amounts owed to the Company by the Terminated Member and (ii) to each
other Member all amounts owed to such Member by the Terminated Member.

 

(d)            The
Terminated Member shall remain obligated for all liabilities it may have under this Agreement or otherwise with respect to the
Company that accrue prior to the closing.

 

(e)            The
Membership Interest, including the Capital Account balance attributable thereto, of the Terminated Member shall be allocated among
the applicable Transferees in proportion to the relative Transferred Units acquired by such Transferee.

 

Section 9.8     Class B
Member Matters.

 

Class B Member agrees that it shall
cause [***] to be admitted as a member of Class B Member no later than [***] (the “Outside Admission Date”),
and Class B Member shall cause, contemporaneously with such an admission of the [***] as a member to Class B Member,
[***] to contribute to Class B Member the Safe Harbor Equipment. Dissolution in accordance with Section 12(a)(iv) shall
be the sole and exclusive remedy of the other Members for the failure of the Class B Member to satisfy its obligations under
this Section 9.8.

 

ARTICLE 10

[RESERVED]

 

    	 	56	 

     

    

 

ARTICLE 11

Indemnification

 

Section 11.1     Indemnification.

 

(a)            Indemnification
by the Class B Member. Subject to the terms and conditions of this Article 11, each Class B Member shall indemnify,
defend, reimburse and hold harmless each Class A Member and its respective parent or subsidiary companies, shareholders, partners,
members and other Affiliates, and each of their respective officers, directors, managers, employees, attorneys, contractors and
agents (collectively, the “Class A Parties”), from and against: (i) any and all assessments, losses,
damages, liabilities, judgments, settlements, Taxes, penalties, costs, and expenses (including reasonable attorneys’ fees
and expenses, including such fees and expenses at trial and on any appeal), of any nature whatsoever (collectively, “Damages”)
asserted against, resulting to, imposed upon, or incurred by the Indemnified Parties, directly or indirectly, by reason of or resulting
from any breach or failure by the Class B Member of any of its representations, warranties, covenants, obligations or agreements
contained in this Agreement or any other Investment Document or any certificate delivered thereunder or hereunder; (ii) Damages
asserted against, resulting to, imposed upon, or incurred by the Indemnified Parties, directly or indirectly, by reason of or resulting
from a payment under the Class A TE Guaranty that pertains to a Class B TE Obligation; and (iii) its pro rata share
(in accordance with its Class B Units) of the Class B Member’s Specified Share of Damages asserted against, resulting
to, imposed upon, or incurred by the Indemnified Parties, directly or indirectly, by reason of or resulting from a payment under
the Class A TE Guaranty that pertains to neither a Class A TE Obligation nor a Class B TE Obligation (collectively,
 “Class A Claims”). To the extent that any such Damages remain unpaid after a claim has been properly made
therefor pursuant to this Section 11.1(a) that is not a bona fide dispute, any distributions otherwise payable to the
Class B Members under this Agreement shall be used to satisfy the obligations of each Class B Member hereunder.

 

(b)            Indemnification
by the Class A Member. Subject to the terms and conditions of this Article 11, each Class A Member shall indemnify,
defend, reimburse and hold harmless each Class B Member and its respective parent or subsidiary companies, shareholders, partners,
members and other Affiliates, and each of their respective officers, directors, managers, employees, attorneys, contractors and
agents (collectively, the “Class B Parties” and together with the Class A Parties, the “Indemnified
Parties”), from and against any and all Damages asserted against, resulting to, imposed upon, or incurred by the Indemnified
Parties, directly or indirectly, by reason of or resulting from any breach or failure by the Class A Member (whether in its
capacity as a Class A Member, the Manager, the Partnership Representative or otherwise) of any of its representations, warranties,
covenants, obligations or agreements contained in this Agreement or any other Investment Document or any certificate delivered
thereunder or hereunder (collectively, “Class B Claims” and together with the Class A Claims, the
 “Indemnity Claim”). To the extent that any such Damages remain unpaid after a claim has been properly made therefor
pursuant to this Section 11.1(b) that is not a bona fide dispute, any distributions otherwise payable to the Class A
Members under this Agreement shall be used to satisfy the obligations of each Class A Member hereunder.

 

    	 	57	 

     

    

 

Section 11.2     Procedure
for Indemnification. After receipt by an Indemnified Party under Section 11.1 of notice of the commencement
of any action, or any other actual or potential Indemnity Claim, such Indemnified Party shall, if a claim in respect thereof
is to be made against a Member (the “Indemnifying Member”), give written notice thereof to such
Indemnifying Member. The failure to promptly notify the Indemnifying Member shall not relieve such Indemnifying Member of any
liability that it may have to any Indemnified Party with respect to such action; provided that, to the extent that any such
failure to provide prompt notice is responsible for an increase in the indemnity obligations of the Indemnifying Member, the
Indemnifying Member shall not be responsible for any such increase. In the case of any such action brought against an
Indemnified Party for which the Indemnified Party has given written notice to the Indemnifying Member of the commencement
thereof, the Indemnifying Member shall be entitled to participate therein and, to the extent that it may wish, to assume the
defense thereof with counsel reasonably satisfactory to such indemnified party. If the Indemnifying Member elects to assume
the defense of such action, the Indemnified Party shall have the right to employ separate counsel at its own expense and to
participate in the defense thereof. If the Indemnifying Member elects not to assume (or fails to assume) the defense of such
action, or at any time fails diligently to pursue such defense, the Indemnified Party shall be entitled to assume the defense
of such action with counsel of its own choice, at the expense of the Indemnifying Member. If the action is asserted against
both the Indemnifying Member and the Indemnified Party and (a) there is a conflict of interests which renders it
inappropriate for the same counsel to represent both the Indemnifying Member and the Indemnified Party or (b) such
action could reasonably be expected to result in the imposition of criminal liability, the Indemnifying Member shall be
responsible for paying for separate counsel for the indemnified party; provided, however, that if there is more than one
Indemnified Party and it is practical for all such parties to be represented by common counsel, the Indemnifying Member shall
not be responsible for paying for more than one separate firm of attorneys to represent the indemnified parties, regardless
of the number of indemnified parties. If the Indemnifying Member elects to assume the defense of such action, (y) no
compromise or settlement thereof may be effected by the Indemnifying Member without the indemnified party’s written
consent (which shall not be unreasonably withheld) unless the sole relief provided is monetary damages that are paid in full
by the Indemnifying Member and (z) the Indemnifying Member shall have no liability with respect to any compromise or
settlement thereof effected without its written consent (which shall not be unreasonably withheld) unless the Indemnifying
Member has failed to defend such Indemnified Party against such action.

 

Section 11.3     Exclusivity. The
Parties agree that, (a) except with respect to fraud or willful misconduct, in relation to any breach, default, or
nonperformance of any representation, warranty, covenant, or agreement made or entered into by a Member (whether in its
capacity as a Member, the Manager, the Partnership Representative or otherwise) pursuant to this Agreement or any
certificate, instrument, or document delivered pursuant hereto or arising out of the transactions contemplated herein, the
only relief and remedy available to the other Members in respect of Damages fully recoverable and addressed by the payment of
money shall be as set forth in this Article 11, but only to the extent properly claimable hereunder and as limited
pursuant to this Article 11 or otherwise hereunder. For the avoidance of doubt, no Party has waived any rights to pursue
equitable remedies under this Agreement or the other Investment Documents.

 

Section 11.4     No
Right of Contribution. After the Effective Date, the Company shall have no liability to indemnify a Member on
account of the breach of any representation or warranty or the nonfulfillment of any covenant or agreement of the Company;
and no Member shall have any right of contribution against the Company.

 

Section 11.5     Limitation
on Liability. The indemnification obligations pursuant to this Section 11.5 shall be subject to the following
limitations:

 

(a)            Damages
paid pursuant to this Article 11 shall be treated as a non-taxable adjustment to purchase price or return of capital for federal
income tax purposes unless the Class A Member receives an opinion at a “more likely than not” level or higher
from a nationally-recognized law firm that such amount is taxable. If such opinion is received, Damages paid pursuant to this Article 11
shall be grossed- up and paid on an After-Tax Basis. To the extent an Indemnified Party subsequently recovers all or a part of
the Damages indemnified under this Article 11, the Indemnified Party shall promptly refund the applicable Member(s) that
paid such Damages the recovered Damages on an After-Tax Basis; provided that any such refund shall not exceed the original amount
paid to the Indemnified Party by the applicable Member(s) (on an After-Tax Basis) hereunder.

 

(b)            The
indemnification obligations under this Article 11 shall be limited to actual Damages and shall not include special, incidental,
consequential, indirect, punitive, or exemplary Damages (including lost profits and damages for a lost opportunity); provided,
that any incidental, consequential, indirect, punitive, or exemplary Damages recovered by a third party (including Governmental
Authorities) against a Person entitled to indemnity pursuant to this Article 11 shall be included in the Damages recoverable
under such indemnity.

 

    	 	58	 

     

    

 

Section 11.6     Entire
Agreement. Article 11 of this Agreement constitutes the entire agreement and understanding of the parties
with respect to indemnification hereunder.

 

ARTICLE 12

DISSOLUTION, LIQUIDATION AND TERMINATION

 

Section 12.1     Dissolution.

 

(a)            The
Company will dissolve and its business and affairs will be wound up on the first to occur of the following (the “Liquidating
Events”):

 

(i)            The
unanimous consent of the Members to dissolve the Company;

 

(ii)            Any
other event upon the occurrence of which dissolution is required by the Act (that the Act does not allow to be waived by agreement
of the Parties), unless, to the extent permitted by the Act, Members (other than the Member with respect to which such event occurs)
unanimously elect in writing, within ninety (90) days of the date such event described in this Section 12.1(a)(ii) occurs,
to continue the business of the Company, in which case the Company will not dissolve;

 

(iii)            The
sale, transfer or other disposition by the Company of all or substantially all of its business and Assets; or

 

(iv)            If
the [***] is not admitted as a member of Class B Member and th Safe Harbor Equipment is not contributed to the Company on
or before the Outside Admission Date.

 

(b)            Each
Member agrees that, to the fullest extent permitted by Law, it will not dissolve itself or the Company or withdraw from the Company
except as set forth in Section 12.1(a).

 

Section 12.2     Liquidation
and Termination.

 

(a)            On
dissolution of the Company, the Manager shall, with the Consent of the Members, act as liquidator. The liquidator shall proceed
diligently to wind up the affairs of the Company and make final distributions as provided in this Agreement. The costs of liquidation
will be borne as a Company Reimbursable Expense. Until final distribution, the liquidator shall continue to operate the Company
with all of the power and authority of the Members. The steps to be accomplished by the liquidator are as follows:

 

(i)            As
promptly as reasonably practicable after dissolution and again after final liquidation, the liquidator shall cause a proper accounting
to be made by the Certified Public Accountant of the Company’s Assets, liabilities, and operations through the last day of
the calendar month in which the dissolution occurs or the final liquidation is completed, as applicable.

 

(ii)            The
liquidator shall pay from Company funds all of the debts and liabilities of the Company or otherwise make adequate provision for
them (including the establishment of a cash escrow fund for contingent, conditional or unmatured liabilities in such amount and
for such term as the liquidator may reasonably determine).

 

    	 	59	 

     

    

 

(iii)            With
respect to the remaining Assets of the Company:

 

(A)            the
liquidator shall use all commercially reasonable efforts to obtain the best possible price and may sell any or all Company Assets
(subject to any and all restrictions to which the Pinnacle Project is subject), including to the Members at such price, but in
no event lower than the Fair Market Value thereof; and

 

(B)            with
respect to all Company Assets that have not been sold, the Values of such Assets shall be determined pursuant to subparagraph (b) of
the definition of Value.

 

(iv)            Any
Company Items of income and gain (including any such items attributable to the disposition or deemed disposition of Assets pursuant
to Section 12.2(a)(iii)) for the Taxable Year during which the distribution of liquidation proceeds occurs that have not been
allocated pursuant to the Regulatory Allocations shall first be allocated to each Member having a deficit balance in its Capital
Account, in the proportion that such deficit balance bears to the total deficit balances in the Capital Accounts of all Members,
until each Member has been allocated Company Items of income and gain equal to any such deficit balance in its Capital Account
and such deficit balance has thereby been eliminated. Any remaining Company Items for such Taxable Year during which the distribution
of liquidation proceeds occurs shall be allocated among the Members in such manner as to ensure that, to the greatest extent feasible,
following these allocations, the balances in the Capital Accounts of the Members are expected to result in distributions pursuant
to Section 12.2(a)(v) in accordance with the sharing ratios set forth in Section 5.1(a)(ii); provided, however,
that in the event of a liquidation prior to the Tax Equity Funding Date, any remaining Company Items for such Taxable Year during
which the distribution of liquidation proceeds occurs shall be allocated among the Members pro rata in proportion to the balances
in the Capital Accounts of the Members at the time of such liquidation; and

 

(v)            After
giving effect to all allocations (including those under Section 4.2 and Section 12.2(a)(iv)), all prior distributions
(including those under Section 5.1) and all Capital Contributions (including those under Section 3.1, Section 3.2
and Section 3.3) for all periods, all remaining cash and property (including any Available Cash Flow and liquidation proceeds)
shall be distributed to the Members in accordance with the positive balances in their Capital Accounts.

 

(vi)            Any
distribution to the Members in respect of their Capital Accounts pursuant to this Section 12.2 shall be made by the end of
the Company taxable year in which a Liquidating Event occurs (or if later, within ninety (90) days after the date of such Liquidating
Event).

 

(b)            The
distribution of cash or property to a Member in accordance with the provisions of this Section 12.2 constitutes a complete
return to the Member of its Capital Contributions and a complete distribution to the Member on account of its Membership Interest
and all the Company’s property and constitutes a compromise to which all Members have consented pursuant to Section 18-502(b) of
the Act.

 

Section 12.3     Deficit
Capital Accounts.

 

(a)            Except
as expressly provided in this Section 12.3, no Member shall be obligated to contribute cash to restore a deficit in its Capital
Account balance.

 

    	 	60	 

     

    

 

(b)            In
the event the Class A Member’s interests in the Company are “liquidated” within the meaning of Treasury
Regulations Section 1.704-1(b)(2)(ii)(g), if the Class A Member has a deficit Capital Account balance in excess of the
amount such Class A Member is deemed obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-
2(g)(1) and 1.704-2(i)(5) (an “Adjusted Deficit Capital Account Balance”), then the Class A Member
shall be obligated to pay and restore to the Company cash in an amount equal to such Adjusted Deficit Capital Account Balance by
the end of the Taxable Year during which the liquidation of the Company occurs, or if later, within ninety (90) days after the
date of such liquidation; provided, however, that such restoration obligation of the Class A Member shall not, under any circumstances
be more than its Class A DRO Amount.

 

(c)            In
the event the Class B Member’s interests in the Company are “liquidated” within the meaning of Treasury
Regulations Section 1.704-1(b)(2)(ii)(g), if the Class B Member has a deficit Capital Account balance in excess of the
amount such Class B Member is deemed obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-
2(g)(1) and 1.704-2(i)(5) (an “Adjusted Deficit Capital Account Balance”), then the Class B Member
shall be obligated to pay and restore to the Company cash in an amount equal to such Adjusted Deficit Capital Account Balance by
the end of the Taxable Year during which the liquidation of the Company occurs, or if later, within ninety (90) days after the
date of such liquidation; provided, however, that such restoration obligation of the Class B Member shall not, under any circumstances
be more than its Class B DRO Amount.

 

Section 12.4     Termination. On
completion of the satisfaction of liabilities and distribution of Assets as provided in this Agreement, the Manager (or such
other Person or Persons as the Act may require or permit) shall file a certificate of cancellation with the Secretary of
State of the State of Delaware and cancel any other filings made as provided in Section 2.1, and shall take such other
actions as may be necessary to terminate the existence of the Company. Upon the filing of such certificate of cancellation,
the existence of the Company shall terminate (and the term of the Company shall end), except as may be otherwise provided by
the Act or other applicable Law. All costs and expenses in fulfilling the obligations under this Section 12.4 shall be
borne by the Company.

 

ARTICLE 13

GENERAL PROVISIONS

 

Section 13.1     Offset. Whenever
the Company (or another Person on behalf of the Company) is to pay any sum to any Member, any amounts then owed by such
Member to the Company may be deducted from such sum before payment, provided that no Member’s obligation to make
Capital Contributions may be deducted from any payment amounts without such Member’s consent.

 

Section 13.2     Notices. All
notices, consents, demands, requests or other communications which may be or are required to be given under this Agreement
shall be in writing and shall (a) be sent by overnight courier, facsimile, electronic mail or United States mail,
addressed to the recipient, postage paid, and registered or certified, return receipt requested, or delivered to the
recipient in person and (b) be sent or delivered, in each case, at the addresses set forth on the signature page of
this Agreement or such other address as a Member may specify by notice to the Company and the other Members; provided, that
any financial models or reports required to be delivered under this Agreement shall be emailed to [***] and additionally, may
be uploaded to a data site mutually agreed to by the Members. Any notice, request or consent to the Company must be given to
the Manager. Notices, consents, demands, requests and other communications shall be deemed effective or served on the date of
receipt at the address of the Person to receive it.

 

    	 	61	 

     

    

 

Section 13.3     Counterparts. This
Agreement may be executed in one or more counterparts, each bearing the signatures of one or more Members. Each such
counterpart shall be considered an original and all of such counterparts shall constitute a single agreement binding all the
parties as if all had signed a single document. Facsimile, electronic mail or pdf signatures shall be accepted as original
signatures for purposes of this Agreement.

 

Section 13.4     Governing
Law and Severability.

 

This Agreement shall be construed, interpreted
and enforced in accordance with the internal laws and decisions of the State of Delaware without giving effect to any choice of
law or conflict of law rules or provisions of any other state or jurisdiction that would cause the application of the laws
of any jurisdiction other than the State of Delaware. If any provision of this Agreement shall be contrary to any other applicable
Law, at the present time or in the future, such provision shall be deemed null and void, but this shall not affect the legality
of the remaining provisions of this Agreement. This Agreement shall be deemed to be modified and amended so as to be in compliance
with applicable Law and this Agreement shall then be construed in such a way as will best serve the intention of the Parties at
the time of the execution of this Agreement.

 

Section 13.5     Entire
Agreement. This Agreement, including any Annexes, Schedules and Exhibits, together with the other Investment
Documents, constitutes the entire agreement among the Members regarding the terms and operations of the Company, except as
amended in writing pursuant to the requirements of this Agreement, and supersedes all prior and contemporaneous agreements,
statements, understandings and representations of the Parties.

 

Section 13.6     Effect
of Waiver or Consent. A waiver or consent, express or implied, to or of any breach or default by any Person in the
performance by that Person of its obligations under this Agreement, or any Investment Document is not a consent or waiver to
or of any other breach or default in the performance by that Person of the same or any other obligations of that Person under
this Agreement, or any Investment Document. Failure on the part of a Person to complain of any act of any Person or to
declare any Person in default with respect to its obligations under this Agreement, or any Investment Document, irrespective
of how long that failure continues, does not constitute a waiver by that Person of its rights with respect to that default
until the applicable statute of limitations period has run.

 

Section 13.7     Amendment
or Modification. Except as otherwise provided herein, this Agreement may be amended or modified from time to time
only by a written instrument executed by all Members.

 

Section 13.8     Binding
Effect. Subject to the restrictions on Transfers set forth in this Agreement, this Agreement is binding on and
inures to the benefit of the Members and their respective legal representatives, permitted successors and permitted
assigns.

 

Section 13.9     Further
Assurances. In connection with this Agreement and the transactions contemplated hereby, each Member shall execute
and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to
effectuate and perform the provisions of this Agreement and those transactions contemplated here, including all filing,
recording, publishing and other acts appropriate to comply with all requirements for the operation of a limited liability
company under the laws of all jurisdictions where the Company shall conduct business.

 

    	 	62	 

     

    

 

Section 13.10     Jurisdiction. The
Parties agree to submit to the exclusive jurisdiction of the Supreme Court of the State of New York and the Federal District
Court located in the Borough of Manhattan, State of New York, and any court of appeal from either thereof, in connection with
any action or other proceeding relating to this Agreement or the transactions contemplated hereby. Each Party irrevocably
waives and agrees not to make, to the fullest extent permitted by Law, any objection which it may now or hereafter have to
the jurisdiction of any such court or to the laying of venue of any such action or proceeding brought in any such court and
any claim that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

 

Section 13.11     LIMITATION
ON LIABILITY.

 

NO PARTY HERETO NOR ANY OF ITS AFFILIATES,
DIRECTORS, EMPLOYEES, ATTORNEYS OR AGENTS SHALL BE LIABLE TO ANY OTHER PARTY HERETO OR ANY OF ITS AFFILIATES, DIRECTORS, EMPLOYEES,
ATTORNEYS OR AGENTS FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES (INCLUDING DAMAGES FOR LOST
OPPORTUNITY, LOST PROFITS OR REVENUES OR LOSS OF USE OF SUCH PROFITS OR REVENUES) (WHETHER OR NOT THE CLAIM THEREFORE 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 THE OTHER INVESTMENT DOCUMENTS 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, INCIDENTAL, CONSEQUENTIAL,
PUNITIVE, OR EXEMPLARY DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR, PROVIDED, HOWEVER,
THAT TO THE EXTENT A BREACH RESULTS IN THE LOSS, DISALLOWANCE OR REDUCTION OF PTCS, THE VALUE OF SUCH LOST, DISALLOWED OR REDUCED
PTCS SHALL NOT CONSTITUTE SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES.

 

[Signature Pages Follow]

 

    	 	63	 

     

    

 

 

IN WITNESS WHEREOF, the Parties hereto have
executed this Agreement as of the date first written above.

 

	 	CLASS B
    MEMBER 

     

    CWSP PINNACLE HOLDING LLC 

      

    By: /s/ Craig Cornelius 

    Name: Craig Cornelius 

    Title: President 

      

    Address: 

    Attention: 

     

     

    

 

	 	CLASS A
    MEMBER 

      

    CWEN PINNACLE REPOWERING HOLDCO LLC 

      

    By: /s/ Christopher S. Sotos 

    Name: Christopher S. Sotos 

    Title: President 

      

    Address: 

    Attention: 

    Telephone:

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