SEC Contract Filing

Filing Date: 2021-04-13

Document Content:
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<TYPE>EX-10.29
<SEQUENCE>2
<FILENAME>gceh-20201231_10kex10z29.htm
<DESCRIPTION>EXHIBIT 10.29
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><U>AMENDMENT NO. 1 TO CREDIT AGREEMENT
AND WAIVER</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This AMENDMENT NO.
1 TO CREDIT AGREEMENT AND WAIVER, dated as of July 1, 2020 (this&nbsp;&#8220;<U>Amendment</U>&#8221;), is entered into by and among
BKRF OCB, LLC (the &#8220;<U>Borrower</U>&#8221;), BKRF OCP, LLC, a Delaware limited liability company (&#8220;<U>Holdings</U>&#8221;),
Bakersfield Renewable Fuels, LLC, a Delaware limited liability company (the &#8220;Project Company&#8221;), Orion Energy Partners
TP Agent, LLC in its capacity as the administrative agent (in such capacity, the &#8220;<U>Administrative Agent</U>&#8221;), and
certain Tranche A Lenders and Tranche B Lenders party hereto (the &#8220;<U>Signatory Lenders</U>&#8221;). As used in this Amendment,
capitalized terms which are not defined herein shall have the meanings ascribed to such terms in the Credit Agreement unless otherwise
specified.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>W I T N E S S E T H</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 22.5pt">WHEREAS, the Borrower,
Holdings, the Administrative Agent, Orion Energy Partners TP Agent, LLC in its capacity as the collateral agent (in such capacity,
the &#8220;<U>Collateral Agent</U>&#8221;) and each Tranche A and Trance B Lender from time to time party thereto have entered
into that certain Credit Agreement, dated as of May 4, 2020 (as amended, amended and restated, modified and supplemented on or
prior to the date hereof, the &#8220;<U>Credit Agreement</U>&#8221; and the Credit Agreement as expressly amended by this Amendment,
the &#8220;<U>Amended Credit Agreement</U>&#8221;);</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, the Borrower
failed to achieve the &#8220;Haldor Topsoe Catalyst PO&#8221; Significant Milestone listed on Schedule 4.01(f) of the Credit Agreement
(the &#8220;<U>Haldor Catalyst Significant Milestone</U>&#8221;) on or before May 11, 2020;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, the Borrower
failed to achieve the &#8220;Mangiarotti NTP&#8221; Significant Milestone listed on Schedule 4.01(f) of the Credit Agreement (the
&#8220;<U>Mangiarotti Significant Milestone</U>&#8221;) on or before June 1, 2020;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, the Borrower&#8217;s
failure to achieve (i) the Haldor Catalyst Significant Milestone on or before May 11, 2020 constituted an Event of Default under
Section 7.01(o)(ii) of the Credit Agreement (the &#8220;<U>Haldor Catalyst Event of Default</U>&#8221;) and (ii) the Mangiarotti
Significant Milestone on or before June 1, 2020 constituted an Event of Default under Section 7.01(o)(ii) of the Credit Agreement
(the &#8220;<U>Mangiarotti Event of Default</U>&#8221;);</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, the Borrower
achieved the Mangiarotti Significant Milestone on June [19], 2020;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, on June
19, 2020 the Borrower delivered a Borrowing Request to the Administrative Agent and the Lenders that specified a Funding Date of
July 1, 2020 (such date, the &#8220;<U>July 2020 Funding Date</U>&#8221;);</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, pursuant
to Section 2.01(d)(ii) of the Credit Agreement, a Funding Date specified in a Borrowing Request shall be no earlier than twelve
(12) Business Days after the delivery of such Borrowing Request (the &#8220;<U>Borrowing Notice Requirement</U>&#8221;);</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, pursuant
to Section 10.02 of the Credit Agreement, modifications to the Credit Agreement require the consent of the Borrower, the other
Loan Parties and the Required Lenders or the Administrative Agent (acting on behalf of the Required Lenders);</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, the Signatory
Lenders constitute the Required Lenders under and as defined in the Credit Agreement; and</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">WHEREAS, the parties
hereto have agreed to amend the Credit Agreement as set forth herein, subject to the satisfaction of the conditions precedent to
effectiveness set forth in <U>Section 4</U> hereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.25in">NOW, THEREFORE,
in consideration of the mutual agreements, provisions and covenants contained herein and other good