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Article I Definitions | 1 | |||
1.1 Defined Terms | 1 | |||
1.2 Terms Generally | 21 | |||
1.3 Accounting Terms; GAAP | 21 | |||
1.4 Joint and Several Obligations; Designated Financial Officers | 22 | |||
1.5 Letter of Credit Amounts | 22 | |||
Article II The Credits | 22 | |||
2.1 Revolving Loans | 22 | |||
2.2 [Reserved.] | 24 | |||
2.3 LIBOR Borrowings | 24 | |||
2.4 Letters of Credit | 26 | |||
2.5 Loans and Borrowings; Funding of Borrowings | 31 | |||
2.6 Swing Loan Facility | 32 | |||
2.7 Expiration, Termination or Reduction of Commitments | 35 | |||
2.8 Payments Generally; Pro Rata Treatment; Sharing of Set-Offs; Collection | 35 | |||
2.9 Prepayment of Loans | 37 | |||
2.10 Fees | 40 | |||
2.11 Increased Costs | 41 | |||
2.12 Taxes | 42 | |||
2.13 Mitigation Obligations; Replacement of Lenders | 42 | |||
Article III Guarantee by Guarantors | 43 | |||
3.1 The Guarantee | 43 | |||
3.2 Obligations Unconditional | 43 | |||
3.3 Reinstatement | 44 | |||
3.4 Subrogation | 44 | |||
3.5 Remedies | 44 | |||
3.6 Instrument for the Payment of Money | 44 | |||
3.7 Continuing Guarantee | 45 | |||
3.8 General Limitation on Amount of Obligations Guaranteed | 45 | |||
Article IV The Collateral | 45 | |||
4.1 Grant of Security Interest | 45 | |||
4.2 Special Warranties and Covenants of the Credit Parties | 47 | |||
4.3 Fixtures, etc | 49 | |||
4.4 Right of Agent to Dispose of Collateral, etc | 49 | |||
4.5 Right of Agent to Use and Operate Collateral, etc | 50 | |||
4.6 Proceeds of Collateral | 50 | |||
Article V Representations and Warranties | 51 | |||
5.1 Organization; Powers | 51 | |||
5.2 Authorization; Enforceability | 51 | |||
5.3 Governmental Approvals; No Conflicts | 51 | |||
5.4 Financial Condition; No Material Adverse Change | 51 |
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5.5 Properties | 52 | |||
5.6 Litigation and Environmental Matters | 53 | |||
5.7 Compliance with Laws and Agreements | 53 | |||
5.8 Investment and Holding Company Status | 53 | |||
5.9 Taxes | 53 | |||
5.10 ERISA | 54 | |||
5.11 Disclosure | 54 | |||
5.12 Capitalization | 54 | |||
5.13 Subsidiaries | 54 | |||
5.14 Material Indebtedness, Liens and Agreements | 55 | |||
5.15 Federal Reserve Regulations | 55 | |||
5.16 Solvency | 56 | |||
5.17 Force Majeure | 56 | |||
5.18 Accounts Receivable | 56 | |||
5.19 Labor and Employment Matters | 57 | |||
5.20 Bank Accounts | 57 | |||
5.21 Matters Relating to the Special Purpose Subsidiaries | 57 | |||
5.22 Matters Relating to Inactive Subsidiaries | 58 | |||
5.23 OFAC | 58 | |||
5.24 Patriot Act | 58 | |||
Article VI Conditions | 58 | |||
6.1 Effective Time | 58 | |||
6.2 Each Extension of Credit | 60 | |||
Article VII Affirmative Covenants | 61 | |||
7.1 Financial Statements and Other Information | 61 | |||
7.2 Notices of Material Events | 63 | |||
7.3 Existence; Conduct of Business | 63 | |||
7.4 Payment of Obligations | 63 | |||
7.5 Maintenance of Properties; Insurance | 64 | |||
7.6 Books and Records; Inspection Rights | 64 | |||
7.7 Fiscal Year | 64 | |||
7.8 Compliance with Laws | 64 | |||
7.9 Use of Proceeds | 64 | |||
7.10 Certain Obligations Respecting Subsidiaries; Additional Guarantors | 65 | |||
7.11 ERISA | 65 | |||
7.12 Environmental Matters; Reporting | 65 | |||
7.13 Matters Relating to Additional Real Property Collateral | 66 | |||
Article VIII Negative Covenants | 66 | |||
8.1 Indebtedness | 66 | |||
8.2 Liens | 67 | |||
8.3 Contingent Liabilities | 68 | |||
8.4 Fundamental Changes; Asset Sales | 69 | |||
8.5 Investments; Hedging Agreements | 71 |
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8.6 Restricted Junior Payments | 72 | |||
8.7 Transactions with Affiliates | 72 | |||
8.8 Restrictive Agreements | 73 | |||
8.9 Sale-Leaseback Transactions | 73 | |||
8.10 Certain Financial Covenants | 73 | |||
8.11 Lines of Business | 74 | |||
8.12 Other Indebtedness | 74 | |||
8.13 Modifications of Certain Documents | 74 | |||
8.14 Transactions with Foreign Subsidiaries, Special Purpose Subsidiaries and Inactive Subsidiaries | 74 | |||
Article IX Events of Default | 74 | |||
9.1 Events of Default | 74 | |||
9.2 Rights and Remedies Upon any Event of Default | 76 | |||
9.3 Receivership | 77 | |||
Article X The Agent | 78 | |||
10.1 Appointment and Authorization | 78 | |||
10.2 Agent’s Rights as Lender | 78 | |||
10.3 Duties As Expressly Stated | 78 | |||
10.4 Reliance By Agent | 79 | |||
10.5 Action Through Sub-Agents | 79 | |||
10.6 Resignation of Agent and Appointment of Successor Agent | 79 | |||
10.7 Lenders’ Independent Decisions | 80 | |||
10.8 Indemnification | 80 | |||
10.9 No Other Duties, Etc | 81 | |||
10.10 Agent May File Proofs of Claim | 81 | |||
10.11 Guaranty Matters | 81 | |||
10.12 Collateral Matters | 82 | |||
Article XI Miscellaneous | 83 | |||
11.1 Notices | 83 | |||
11.2 Waivers; Amendments | 85 | |||
11.3 Expenses; Indemnity: Damage Waiver | 86 | |||
11.4 Successors and Assigns | 88 | |||
11.5 Survival | 91 | |||
11.6 Counterparts; Integration; References to Agreement; Effectiveness | 91 | |||
11.7 Severability | 91 | |||
11.8 Right of Setoff | 91 | |||
11.9 Subordination by Credit Parties | 92 | |||
11.10 Governing Law; Jurisdiction; Consent to Service of Process | 92 | |||
11.11 WAIVER OF JURY TRIAL | 93 | |||
11.12 Headings | 93 | |||
11.13 Release of Collateral and Guarantees | 93 | |||
11.14 Confidentiality | 93 | |||
11.15 Payments Set Aside | 94 |
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11.16 No Advisory or Fiduciary Responsibility | 94 | |||
11.17 Electronic Execution of Assignments and Certain Other Documents | 94 | |||
11.18 USA Patriot Act Notice | 95 |
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Schedule A | AutoBorrow Agreement | |
Schedule 1.1 | Material Owned Properties | |
Schedule 1.4 | Designated Financial Officers | |
Schedule 2.1 | Lenders and Commitments | |
Schedule 2.4 | Existing Letters of Credit | |
Schedule 4.2 | Websites and Domain Names | |
Schedule 4.3 | Fixtures | |
Schedule 5.3 | Governmental Approvals; No Conflicts | |
Schedule 5.4 | Financial Condition; No Material Adverse Changes | |
Schedule 5.5 | Properties; Proprietary Rights; Real Property Assets | |
Schedule 5.6 | Litigation and Environmental Matters | |
Schedule 5.7 | Compliance with Laws and Agreements | |
Schedule 5.9 | Taxes | |
Schedule 5.10 | Pension Plans | |
Schedule 5.12 | Capitalization | |
Schedule 5.13 | Subsidiaries | |
Schedule 5.14 | Material Indebtedness, Liens and Agreements | |
Schedule 5.19 | Labor and Employment Matters | |
Schedule 5.20 | Bank Accounts | |
Schedule 8.1 | Existing Indebtedness | |
Schedule 8.5 | Existing Investments | |
Schedule 8.7 | Transactions with Affiliates | |
Schedule 8.8 | Restrictive Agreements | |
Exhibit A-1 | Form of Revolving Credit Note | |
Exhibit A-2 | Form of Swing Loan Note | |
Exhibit B | Form of Advance Request | |
Exhibit C | Form of Perfection Certificate | |
Exhibit D | Form of Compliance Certificate | |
Exhibit E | Form of Amended and Restated Pledge Agreement | |
Exhibit F | [Reserved] | |
Exhibit G | [Reserved] | |
Exhibit H | Form of Opinion of Counsel to the Borrower | |
Exhibit I | Form of Solvency Certificate | |
Exhibit J | Form of Assignment and Assumption |
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Applicable Margin Base | (% per annum) | Applicable Unused Fee Rate | ||
Rate Loans | LIBOR Loans | (% per annum) | ||
0.25% | 1.75% | 0.375% |
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Eurodollar Rate = | Eurodollar Base Rate | ||
1.00 — Eurodollar Reserve Percentage |
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BORROWER AMERESCO, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
GUARANTORS AMERESCO ENERTECH, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
E.THREE CUSTOM ENERGY SOLUTIONS, LLC, By: Sierra Energy Company, its sole member | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCOSOLUTIONS, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
AMERESCO PLANERGY HOUSING, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
SOLUTIONS HOLDINGS, LLC By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO FEDERAL SOLUTIONS, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
SIERRA ENERGY COMPANY | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SELECT, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO HAWAII LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SOLAR – SOLUTIONS, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SOLAR-PRODUCTS LLC By: Ameresco, Inc., its sole member | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SOLAR, LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SOLAR – TECHNOLOGIES LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO WOODLAND MEADOWS ROMULUS LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO NORTHAMPTON LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
AGENT AND LENDER BANK OF AMERICA, N.A., as Administrative Agent and a Lender | ||||
By: | /s/ John F. Lynch | |||
Name: | John F. Lynch | |||
Title: | Senior Vice President | |||