SEC Contract Filing

Filing Date: 2021-02-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.44
<SEQUENCE>3
<FILENAME>tsla-ex1044_13.htm
<DESCRIPTION>EX-10.44
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tsla-ex1044_13.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.44 </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FIRST AMENDMENT TO AMENDED AND RESTATED ABL CREDIT AGREEMENT</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FIRST AMENDMENT TO AMENDED AND RESTATED ABL CREDIT AGREEMENT (this &#8220;<font style="text-decoration:underline;">Amendment</font>&#8221;), dated as of December 23, 2020, in respect of the Amended and Restated ABL Credit Agreement, dated as of March 6, 2019 (as amended, supplemented or otherwise modified prior to the date hereof, the &#8220;<font style="text-decoration:underline;">Credit Agreement</font>&#8221;; and the Credit Agreement as amended by this Amendment, the &#8220;<font style="text-decoration:underline;">Amended Credit Agreement</font>&#8221;), among Tesla, Inc. (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;, and together with each Wholly-Owned Domestic Subsidiary of the Company that becomes a U.S. Borrower pursuant to the terms of the Credit Agreement, collectively, the &#8220;<font style="text-decoration:underline;">U.S. Borrowers</font>&#8221;), Tesla Motors Netherlands B.V. (&#8220;<font style="text-decoration:underline;">Tesla B.V.</font>&#8221;, and together with each Wholly-Owned Dutch Subsidiary of Tesla B.V. that becomes a Dutch Borrower pursuant to the terms of the Credit Agreement, collectively, the &#8220;<font style="text-decoration:underline;">Dutch Borrowers</font>&#8221;), the lenders from time to time party thereto (the &#8220;<font style="text-decoration:underline;">Lenders</font>&#8221;), Deutsche Bank AG New York Branch, as administrative agent and collateral agent (in such capacities, the &#8220;<font style="text-decoration:underline;">Administrative Agent</font>&#8221;), and the other agents party thereto. </p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;letter-spacing:-0.05pt;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RECITALS:</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company has requested an amendment to the Credit Agreement and certain other Credit Documents;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Tesla Motors Limited, a company incorporated in England and Wales with registered number 04384008 and having its registered office at 197 Horton Road, West Drayton, England UB7 8JD (&#8220;<font style="text-decoration:underline;">Tesla UK</font>&#8221; and, together with each other Wholly-Owned English Subsidiary of Tesla UK that becomes a Borrower pursuant to the terms of the Amended Credit Agreement, collectively, the &#8220;<font style="text-decoration:underline;">UK Borrowers</font>&#8221; and the UK Borrowers, together with the Dutch Borrowers and the U.S. Borrowers, collectively, the &#8220;<font style="text-decoration:underline;">Borrowers</font>&#8221;) desires to execute and deliver this Amendment in order to become a party to the Credit Agreement and other Credit Documents as a Borrower;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the UK Borrower will obtain benefits from the incurrence of Loans by the UK Borrowers, and the issuance of, and participation in, Letters of Credit for the account of the UK Borrowers, in each case pursuant to the Amended Credit Agreement, and, accordingly, desires to execute this Amendment in order to induce the Lenders to make Loans to the UK Borrowers and issue, and/or participate in, Letters of Credit for the account of the UK Borrowers;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, pursuant to Sections 13.05 and 13.13 of the Credit Agreement, the Credit Agreement may be amended to add additional Borrowers and make other requested amendments with the written consent of the Lenders and each Credit Party thereto; and</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the parties now wish to amend the Credit Agreement and certain other Credit Documents in certain respects.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">AGREEMENT:</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-in