SEC Contract Filing

Filing Date: 2016-05-12

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>t1600308_ex10-2.htm
<DESCRIPTION>EXHBIT 10.2
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.2</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">LOAN MODIFICATION AND WAIVER AGREEMENT</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Loan Modification
and Waiver Agreement (this &ldquo;Loan Modification Agreement&rdquo;) is entered into as of January 19, 2016 (the &ldquo;Effective
Date&rdquo;), by and among (i) <FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>SOLAR SOLUTIONS
AND DISTRIBUTION, LLC</B>,</FONT> a Colorado limited liability company (&ldquo;Lender&rdquo;), and (ii) REAL GOODS ENERGY TECH,
INC., a Colorado corporation (&ldquo;Real Goods Energy&rdquo;), ALTERIS RENEWABLES, INC., a Delaware corporation (&ldquo;Alteris&rdquo;)
and REAL GOODS SYNDICATED, INC., a Delaware corporation (&ldquo;Syndicated&rdquo;), MERCURY ENERGY, INC., a Delaware corporation
(&ldquo;Mercury&rdquo;), REAL GOODS SOLAR, INC. &ndash; MERCURY SOLAR, a New York corporation (&ldquo;Mercury Solar&rdquo;), ELEMENTAL
ENERGY, LLC, a Hawaii limited liability company (&ldquo;Elemental&rdquo;), and SUNETRIC MANAGEMENT LLC, a Delaware limited liability
company (&ldquo;Sunetric&rdquo;, and together with Real Goods Energy, Alteris, Syndicated, Mercury, Mercury Solar and Elemental,
individually and collectively, jointly and severally, the &ldquo;Borrower&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ACKNOWLEDGEMENT
AND WAIVER</U>. Borrower acknowledges that it is currently in default under the Loan Agreement (the &ldquo;Loan Agreement&rdquo;)
being purchased by Lender from Silicon Valley Bank (&ldquo;SVB&rdquo;) under the Non-recourse Loan Document Sale and Assignment
Agreement (the &ldquo;Loan Sale Agreement&rdquo;) of even date herewith by its failure to comply with the financial covenant contained
in Section 6.9 of the Loan Agreement (the &ldquo;Existing Default&rdquo;). Lender hereby waives Borrower&rsquo;s Existing Default.
In addition, Lender hereby acknowledges that any unpaid fees due to Lender under the existing Loan Agreement, as amended, have
been paid or have otherwise been waived as of the date hereof.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>MODIFICATIONS
TO LOAN AGREEMENT</U>. The Loan Agreement shall be amended by deleting the financial covenants set forth in Section 6.9. The Parties
acknowledge and agree that Lender has agreed amend and restate the Loan Agreement to reflect the terms set forth in the LOI executed
between Borrower and Lender on December 17<SUP>th</SUP>, 2015 (the &quot;LOI&quot;) on or prior to January 22, 2016 (and without
an expiration of the LOI on January 15<SUP>th </SUP>as set forth therein). The parties will work in good faith to amend and restate
the Loan Agreement on or before January 22, 2016 and as between the parties will agree to treat the Loan Agreement as amended by
the LOI terms as of the date hereof. The LOI does not include the exclusive and definitive terms of the amendment, and such definitive
terms shall be agreed upon in connection with such amendment. In addition, the parties acknowledge that any inventory in which
another vendor has a first lien purchase money security interest shall be excluded from the Borrowing Base calculations. The parties
further acknowledge that Lender will put a $12,292 reserve on the Borrowing Base calculation with respect to the tax liens filed
in California until such filings shall be released, and in connection therewith, any default under the terms of the Loan Agreement
with respect to such filings is waived by the Lender.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>TEMPORARY
TRANSITION OF ACCOUNTS</U>. Concurrent with the execution of this Loan Modification Agreement and the Loan Sale Agreement, (i)
Borrower shall instruct SVB to establish the daily automatic transfer of all amounts deposited in Borrower&rsquo;s current cash
collateral account (Account <FONT STYLE="background-color: Black"># 3300980194</FONT>) into Borrower&rsquo;s operating account
(Account <FONT STYLE="background-color: Black"># 3300980096</FONT>) (collectively, the &ldquo;Accounts&rdquo;); (ii) Borrower
will instruct SVB to close Borrower&rsquo;s lock box with SVB