SEC Contract Filing

Filing Date: 2016-05-10

Document Content:
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<TYPE>EX-10.5
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<FILENAME>ex105terpsecondamendment.htm
<DESCRIPTION>EXHIBIT 10.5
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<DIV><FONT size="1" style="font-size:1pt;color:white">Exhibit 10.5 EXECUTION VERSION SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT THIS SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this &#8220;Amendment&#8221;) is dated as of August 11, 2015 and is entered into by and among TERRAFORM POWER OPERATING, LLC, a Delaware limited liability company (&#8220;Borrower&#8217;&#8217;), the other Credit Parties party hereto, BARCLAYS BANK PLC (&#8220;Barclays&#8221;), as a Lender and as Administrative Agent (&#8220;Administrative Agent&#8221;) and the other Lenders party hereto, and is made with reference to that certain CREDIT AND GUARANTY AGREEMENT dated as of January 28, 2015 (as amended through the date hereof, the &#8220;Credit Agreement&#8221;) by and among Borrower, TERRAFORM POWER, LLC, a Delaware limited liability company, the subsidiaries of Borrower named therein, the Lenders, the Administrative Agent, Collateral Agent and the other Agents named therein. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement after giving effect to this Amendment. RECITALS WHEREAS, the Credit Parties have requested that the Requisite Lenders and Administrative Agent agree to amend certain provisions of the Credit Agreement as provided for herein; and WHEREAS, subject to certain conditions, the Requisite Lenders and Administrative Agent are willing to agree to such amendments relating to the Credit Agreement. NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows: SECTION I. AMENDMENTS TO CREDIT AGREEMENT A. The following definitions in Section 1.1 of the Credit Agreement are hereby amended and restated as follows: &#8220;Borrower Interest Expense&#8221; means, for any period, total interest expense (including that portion attributable to Capital Leases in accordance with GAAP and capitalized interest) of Borrower and its Restricted Subsidiaries with respect to all outstanding Indebtedness of Borrower and its Restricted Subsidiaries determined in accordance with GAAP (other than Non-Recourse Project Indebtedness), including all commissions, discounts and other fees and charges owed with respect to letters of credit and net costs under Interest Rate Agreements, but excluding, however, any amount not payable in Cash. &#8220;Borrower Total Debt&#8221; means, as at any date of determination, the aggregate stated balance sheet amount of all Indebtedness of Borrower and its Restricted Subsidiaries (or, if higher, the par value or stated face amount of all such Indebtedness (other than zero coupon Indebtedness)) determined in accordance with GAAP, for the avoidance of doubt excluding Non-Recourse Project Indebtedness and the face amount of any undrawn Letter of Credit issued for the account of Borrower. &#8220;CFADS&#8221; means, for the applicable period, the sum of (a) CAFD plus (b) without duplication of amounts included in CAFD, Fixed Charges, to the extent such Fixed Charges exceed the amount (if any) of Interest Support Payments made during the applicable period. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">Exhibit 10.5 2 &#8220;Change of Control Restrictions&#8221; means, with respect to a Person, Contractual Obligations or applicable law which would prohibit, result in a termination of (or give rise to a right of any party to terminate) any Contractual Obligations or default or acceleration of any indebtedness of such Person (or an Affiliate of such Person) or imposition of any restriction on the ability of such Person to make distributions or pay dividends to its equity holders, or otherwise result in material adverse consequences to such Person upon, the change in the direct or indirect ownership or control of the Project Holdco or Pledged Holdco that owns such Person without the consent of the counterparties to such Contractual Obligations or any other Person (other than any Governmental Authority). &#8220;Controlled Foreign Corporation&#8221; means &#8220;controlled foreign corporation&#8221; as defined in Section 957 of the Internal Revenue Code; provided however, for the avoidance of doubt, none of Borrower, the Persons that are Guarantors as of the Second Amendment Effective Date, any Project Holdco or any Pledged Holdco shall be a Controlled Foreign Corporation. &#8220;Guarantor&#8221; means Holdings and each Domestic Subsidiary of Holdings (other than Borrower, any Non-Recourse Subsidiary or any Pledged Holdco). &#8220;M&amp;A Transaction&#8221; means any acquisition, indirectly through a Pledged Holdco, by a Project Holdco, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all or a portion of the Equity Interests of, or a business line or unit or a division of, any Person. &#8220;Non-Recourse Subsidiary&#8221; means: (a) any Subsidiary of Borrower that (i) (x) is the owner, lessor and/or operator of (or is formed to own, lease or operate) one or more Clean Energy Systems or conducts activities reasonably related or ancillary thereto, (y) is the lessee or borrower (or is formed to be the lessee or borrower) in respect of Non-Recourse Project Indebtedness financing one or more Clean Energy Systems, and/or (z) develops or constructs (o