SEC Contract Filing

Filing Date: 2015-11-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>a15-18084_1ex10d3.htm
<DESCRIPTION>EX-10.3
<TEXT>

<html>
<head>

 </head>
<body link=blue lang="EN-US">
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.3</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FIFTEENTH AMENDMENT TO CREDIT AND SECURITY<br> AGREEMENTS AND WAIVER OF DEFAULT</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIS FIFTEENTH AMENDMENT TO CREDIT AND SECURITY AGREEMENTS AND WAIVER OF DEFAULT (the &#147;<u>Amendment</u>&#148;), dated as of November&nbsp;2, 2015, is entered into by and between CAPSTONE TURBINE CORPORATION, a Delaware corporation (&#147;<u>Company</u>&#148;), and WELLS FARGO BANK, NATIONAL ASSOCIATION (&#147;<u>Wells Fargo</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RECITALS</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Company and Wells Fargo are parties to (i)&nbsp;a Credit and Security Agreement dated February&nbsp;9, 2009 (as amended by that certain First Amendment to Credit and Security Agreements, dated June&nbsp;9, 2009 (&#147;<u>First Amendment</u>&#148;), that certain Second Amendment to Credit and Security Agreements and Waiver of Defaults, dated November&nbsp;5, 2009 (&#147;<u>Second Amendment</u>&#148;), that certain Third Amendment to Credit and Security Agreements and Waiver of Default, dated June&nbsp;11, 2010 (&#147;<u>Third Amendment</u>&#148;), that certain Fourth Amendment to Credit and Security Agreements, dated June&nbsp;29, 2010 (&#147;<u>Fourth Amendment</u>&#148;), that certain Fifth Amendment to Credit and Security Agreements, dated November&nbsp;9, 2010 (&#147;<u>Fifth Amendment</u>&#148;), that certain Sixth Amendment to Credit and Security Agreement and Waiver of Default, dated March&nbsp;23, 2011 (&#147;<u>Sixth Amendment</u>&#148;), that certain Seventh Amendment to Credit and Security Agreements and Waiver of Default, dated June&nbsp;2, 2011 (&#147;<u>Seventh Amendment</u>&#148;), that certain Eighth Amendment to Credit and Security Agreements, dated September&nbsp;27, 2011 (&#147;<u>Eighth Amendment</u>&#148;), that certain Ninth Amendment to Credit and Security Agreements and Waiver of Default, dated February&nbsp;7, 2012 (&#147;<u>Ninth Amendment</u>&#148;), that certain Tenth Amendment to Credit and Security Agreement, dated June&nbsp;11, 2012 (&#147;<u>Tenth Amendment</u>&#148;), that certain Eleventh Amendment to Credit and Security Agreement, dated June&nbsp;5, 2013 (&#147;<u>Eleventh Amendment</u>&#148;), that certain Twelfth Amendment to Credit and Security Agreement, dated June&nbsp;9, 2014 (&#147;<u>Twelfth Amendment</u>&#148;), that certain Thirteenth Amendment to Credit and Security Agreement, dated November&nbsp;3, 2014 (&#147;<u>Thirteenth Amendment</u>&#148;), and that certain Fourteenth Amendment to Credit and Security Agreement, Waiver of Default, and Consent, dated June&nbsp;10, 2015 (&#147;<u>Fourteenth Amendment</u>&#148;), and as further amended from time to time, the &#147;<u>Domestic Credit Agreement</u>&#148;), and (ii)&nbsp;a Credit and Security Agreement (Ex-Im Subfacility), dated February&nbsp;9, 2009 (as amended by the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment, the Twelfth Amendment, the Thirteenth Amendment, and the Fourteenth Amendment, and as further amended from time to time, the &#147;<u>Ex-Im Credit Agreement</u>&#148;; and together with the Domestic Credit Agreement, the &#147;<u>Credit Agreements</u>&#148;).&#160; Capitalized terms used in these recitals have the meanings given to them in the Credit Agreements unless otherwise specified.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Company has requested that (i)&nbsp;certain amendments be made to the Credit Agreements, and (ii)&nbsp;an Event of Default be waived, all of which Wells Fargo is willing to agree to pursuant to the terms and conditions set forth herein.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, it is agreed as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FIL