Page | ||||
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: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
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: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
AMERESCO SELECT, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
AMERESCO HAWAII LLC By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO SOLAR – SOLUTIONS, INC. | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
AMERESCO SOLAR-PRODUCTS LLC By: Ameresco Solar LLC, its sole member By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO SOLAR, LLC By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO SOLAR – TECHNOLOGIES LLC By: Ameresco Solar LLC, its sole member By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO WOODLAND MEADOWS ROMULUS LLC By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO NORTHAMPTON LLC By: Ameresco, Inc., its sole member | ||||
By: | /s/ Andrew B. Spence | |||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
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 | |||
Bank of America, N.A.
1. | Account: Customer’s Bank demand deposit account number 4602281935 or Customer’s substitute or replacement demand deposit account if actually linked to the Line of Credit under the AutoBorrow arrangement established under this Agreement. | |
2. | Borrowing Increment Amount: Specified whole dollar amount in which advances of funds shall be made from the Line of Credit to the Account. For purposes of this Agreement, the Borrowing Increment Amount shall be $1.00 | |
3. | Borrowing Target: The minimum amount of collected funds Customer wishes to maintain in Account; any balance less than the Borrowing Target shall trigger an incremental advance from the Line of Credit if sufficient credit is available, as provided in Step 3, below under “Operation of AutoBorrow.” For the purposes of this Agreement, the Borrowing Target shall be $0.00. | |
4. | Line of Credit: Line of credit extended to Customer by Bank in the maximum principal amount of $15,000,000.00, as evidenced by a Note dated December 29, 2004, or any lesser amount established under the terms of the borrowing base set forth in the Loan Agreement between the Bank and the Customer dated December 29, 2004, as those documents may be modified, amended, extended or renewed. The term shall also include any line of credit replacing the Line of Credit if the replacement is actually linked to the Account under the AutoBorrow arrangement established under this Agreement. | |
5. | Repaying Increment Amount: Specified whole dollar amount in which funds transfers shall be made from the Account to the Line of Credit. For purposes of this Agreement, the Repaying Increment Amount shall be $1.00. | |
6. | Repaying Target: The maximum amount of collected funds Customer wishes to maintain in Account; any whole dollar incremental balance in excess of the Repaying Target shall be transferred from the account to pay down the Line of Credit if there exists an outstanding principal balance on the Line of Credit, as provided in Step 2, below under “ Operation of AutoBorrow.” For purposes of this Agreement, the Repaying Target shall be $0.00. |
Step 1. | At the end of each banking day, Bank will determine the collected balance in the Account and the outstanding Line of Credit principal balance. | ||
Step 2. | If the collected funds in the Account are in excess of the Repaying Target by an amount at least equal to the Repaying Increment Amount, Bank shall transfer funds in excess of the Repaying Target amount from the Account in multiples of the Repaying Increment Amount up to the amount necessary to pay off the Line of Credit principal balance. Notwithstanding the foregoing, if the amount necessary to pay off the Line of Credit principal balance is leas than the Repaying Increment Amount, Bank shall transfer only from the account the whole dollar amount necessary to pay off the outstanding Line of Credit principal balance. | ||
Step 3. | If the collected balance in the Account is less than the Borrowing Target and funds are available under the Line of Credit, Bank shall advance funds from the Line of Credit to the Account in multiples of the Borrowing Increment Amount in order to bring the Account balance up to the Borrowing Target. Notwithstanding the foregoing, if the amount available in the Line of Credit is less than the Borrowing Increment Amount, Bank shall advance available funds, in any whole dollar amount, to the Account. |
Customer name and signature: | Customer’s Address: | |||
Andrew B. Spence | ||||
By: | /s/ Andrew B. Spence | Ameresco, Inc 111 Speen St Suite 410 Framingham, MA 01701 | ||
(customer signature) | ||||
Title: | Vice President and CFO | |||
By: | ||||
(if second signature required) | ||||
Title: | ||||
Bank of America, N.A. | ||||
By: | /s/ John F. Lynch | |||
(customer signature) | ||||
Name/ | ||||
Title: | Senior Vice President, CPO |
Andrew Spence, Chief Financial Officer
Alan Winkler, Controller
Mark | Country | Regis. No. | Regis. Date | |||||||||
AMERESCO | United States | 3241224 | 05/15/07 | |||||||||
AMERESCO and design | United States | 3243480 | 05/22/07 | |||||||||
ENFOTRAK | United States | 2432771 | 03/06/01 |
All other unregistered Trademarks controlled or used by the Credit Parties. | ||
Copyrights: | All common law Copyrights controlled by the Credit Parties. |
(d) | Real Property Assets and Leases: | |
Leased Properties: |
Owned Properties: None. |
Capital Stock Summary
Issued | Equivalent | |||||||||||||||||||||||||
Number | Treasury | Treasury | Number | Ownership | ||||||||||||||||||||||
Type | Buyer | Price | of Shares | Shares | Shares | of Shares | Interest | |||||||||||||||||||
Preferred Shares | G. P. Sakellaris | $ | 1.00 | 3,000,000 | 9,000,000 | 60.93 | % | |||||||||||||||||||
Preferred Shares | A. Sakellaris (Consultant) | $ | 1.00 | 150,000 | 450,000 | 3.05 | % | |||||||||||||||||||
Preferred Shares | A. Winkler | $ | 1.00 | 10,000 | 30,000 | 0.20 | % | |||||||||||||||||||
Preferred Shares | D. Corrsin | $ | 1.00 | 50,000 | 150,000 | 1.02 | % | |||||||||||||||||||
Total – Preferred Shares | 3,210,000 | — | $ | — | ||||||||||||||||||||||
Common Stock | G. P. Sakellaris | $ | 0.01667 | 675,000 | 675,000 | 4.57 | % | |||||||||||||||||||
Common Stock | S. Byrne (BCIA) | $ | 0.90000 | 666,667 | 666,667 | 4,51 | % | |||||||||||||||||||
Common Stock | W. Kremer (BCIA) | $ | 0.90000 | 666,667 | 666,667 | 4.51 | % | |||||||||||||||||||
Common Stock | 30,000 | (30,000 | ) | (52,500 | ) | |||||||||||||||||||||
Common Stock | A. Sakellaris (Consultant) | $ | 1.75000 | 100,000 | 175,000 | 100,000 | 0.68 | % | ||||||||||||||||||
Common Stock | A. Sakellaris (Consultant) | $ | 1.75000 | 100,000 | 175,000 | 100,000 | 0.68 | % | ||||||||||||||||||
Common Stock | D. Anderson | $ | 0.01670 | 600,000 | (90,000 | ) | (613,800 | ) | 510,000 | 3.45 | % | |||||||||||||||
Common Stock | D. Corrsin | $ | 0.01670 | 600,000 | 600,000 | 4.06 | % | |||||||||||||||||||
Common Stock | K. Devlin Ruggiero | $ | 0.01670 | 150,000 | (25,125 | ) | (171,353 | ) | 124,875 | 0.85 | % | |||||||||||||||
Common Stock | All Others | $ | 0.01670 | 3,551,100 | (1,852,650 | ) | (2,136,832 | ) | 1,698,450 | 11.50 | % | |||||||||||||||
Total – Common Shares | 6,939,434 | (1,797,775 | ) | $ | 2,624,484 | ) | 100.00 | % | ||||||||||||||||||
Equity Rights: | ||||||||||||||||||||||||||
Warrants for common stock | 1,000,000 | $ | 0.01 | |||||||||||||||||||||||
Warrants for common stock | 800,000 | $ | 0.60 | |||||||||||||||||||||||
Incentive Stock Options | 5,442,750 | $ | 3.99 | |||||||||||||||||||||||
Restricted shares to be vested in October 2009 | ||||||||||||||||||||||||||
1,000,000 | $ | 6.82 |
JURISDICTION | PERSONS HOLDING | |||||||||
OF | OWNERSHIP INTERESTS; | TYPE OF | ||||||||
LEGAL NAME | ENTITY TYPE | ORGANIZATION | INTERESTS HELD OR PERCENTAGE HELD | AUTHORIZED SHARES | SUBSIDIARY | |||||
Ameresco Enertech, Inc. | corporation | KY | Borrower owns 100% of the issued and outstanding shares; 100 shares | 1,000 shares of common stock, no par value | Guarantor | |||||
e.three Custom Energy Solutions, LLC | limited liability company | NV | Sierra Energy Company owns 100% of the equity interest | — | Guarantor | |||||
Sierra Energy Company | corporation | NV | Borrower owns 100% of the issued and outstanding shares; 1,000 shares | 25,000 shares of common stock at $1.00 par value | Guarantor | |||||
AmerescoSolutions, Inc. | corporation | NC | Borrower owns 100% of the issued and outstanding shares; 166 shares | 1,000 shares of common stock at $100.00 par value | Guarantor | |||||
Ameresco Planergy Housing, Inc. | corporation | DE | Borrower owns 100% of the issued and outstanding shares; 1,000 shares | 1,000 shares of common stock at $1.00 par value | Guarantor | |||||
Solutions Holdings, LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Guarantor | |||||
Ameresco Federal Solutions, Inc. | corporation | TN | Solutions Holding, LLC owns 100% of the issued and outstanding shares; 874 shares | 100,000 shares of common stock, no par value | Guarantor | |||||
Ameresco Select, Inc. | corporation | MA | Borrower owns 100% of the issued and outstanding shares; 100 shares | 100 shares of common stock at $1.00 par value | Guarantor | |||||
Ameresco Solar — Solutions, Inc. | corporation | TX | Ameresco Solar LLC owns 100% of the issued and outstanding shares; 100,000 shares | 250,000 shares of common stock at $25.00 par value | Guarantor | |||||
Ameresco Solar — Products LLC | limited liability company | DE | Ameresco Solar LLC owns 100% of the equity interest | — | Guarantor | |||||
Ameresco Hawaii LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Guarantor | |||||
Ameresco Woodland Meadows Romulus LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Guarantor | |||||
Ameresco Northampton LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Guarantor | |||||
Ameresco Solar LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Guarantor | |||||
Ameresco Solar — Technologies LLC | limited liability company | DE | Ameresco Solar LLC owns 100% of the equity interest | — | Guarantor | |||||
Speen Street Holdings I, LLC | limited liability company | DE | Ameresco Huntington Beach, L.L.C. owns 100% of the equity interest | — | Funding Subsidiary | |||||
Speen Street Holdings II, LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Funding Subsidiary | |||||
Speen Street Holdings III, LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Funding Subsidiary | |||||
Speen Street Holdings IV, LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Funding Subsidiary | |||||
Ameresco Funding I, LLC | limited liability company | DE | Speen Street Holding I, LLC owns 100% of the equity interest | — | Funding Subsidiary | |||||
Ameresco Funding II, LLC | limited liability company | DE | Speen Street Holding II, LLC owns 100% of the equity interest | — | Funding Subsidiary | |||||
Ameresco Funding III, LLC | limited liability company | DE | Speen Street Holding III, LLC owns 100% of the equity interest | — | Funding Subsidiary | |||||
Ameresco Funding IV, LLC | limited liability company | DE | Speen Street Holding IV, LLC owns 100% of the equity interest | — | Funding Subsidiary | |||||
Ameresco Canada Inc. | corporation | Canada | Borrower owns 100% of the issued and outstanding shares; 100 shares | unlimited shares authorized, no par value | Canadian Subsidiary | |||||
Ameresco Quebec Inc. | corporation | Quebec | Ameresco Canada Inc. owns 100% of the issued and outstanding shares; 250 shares | unlimited class A voting shares authorized, no par value | Canadian Subsidiary | |||||
Ameresco Chiquita Energy LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Palmetto LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco LFG Holdings LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Janesville LLC | limited liability company | DE | Ameresco LFG Holdings LLC holds 100% equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Pine Bluff LLC | limited liability company | DE | Ameresco LFG Holdings LLC holds 100% equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco LFG — I, Inc. d/b/a Ameresco Goshen | corporation | DE | Ameresco LFG Holdings LLC owns 100% of issued and outstanding shares; shares | 1,000 shares common stock at $0.0001 par value | Renewable Energy Subsidiary | |||||
Ameresco Chicopee Energy LLC | limited liability company | DE | Ameresco LFG Holdings LLC owns 100% equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Renewable Energy LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco LFG Holdings II LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Santa Cruz Energy LLC | limited liability company | DE | Ameresco LFG Holdings II LLC owns 100% equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Half Moon Bay LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Delaware Energy LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco McCarty Energy LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Keller Canyon LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Skunk Creek LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Stafford LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Jefferson City LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Pontiac LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Cumberland LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Golden Triangle LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco San Antonio LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Evansville LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Greenridge LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Santa Clara LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Woodland Meadows LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Renewable Energy Subsidiary | |||||
Ameresco Canada Wind Power Inc. | corporation | Canada | Ameresco Canada Inc.owns 100% of the issued and outstanding shares; 100 shares | unlimited shares authorized, no par value | Renewable Energy Subsidiary | |||||
Ameresco Colchester 1 Inc. | corporation | Canada | Ameresco Canada Wind Power Inc. owns 100% of the issued and outstanding shares; 100 shares | unlimited shares authorized, no par value | Renewable Energy Subsidiary | |||||
Ameresco Mt. Olive LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Inactive Subsidiary | |||||
Mount Olive Community Development Fund LLC | limited liability company | DE | Borrower owns 99.9% and Ameresco Mt. Olive LLC owns 0.01% of the equity interest | — | Inactive Subsidiary | |||||
Energy Investment, Inc. | corporation | MA | AmerescoSolutions, Inc. owns 100% of the issued and outstanding shares; 250 shares | 250,000 shares common stock at $1.00 par value | Inactive Subsidiary | |||||
EI Fund One, Inc. | corporation | MA | Energy Investment, Inc. owns 100% of the issued and outstanding shares; 100 shares | 300,000 shares common stock at $1.00 par value | Inactive Subsidiary | |||||
Ameresco Wind New York LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Inactive Subsidiary | |||||
Ameresco MT Wind, LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Inactive Subsidiary | |||||
Ameresco Huntington Beach, L.L.C. | limited liability company | DE | Borrower owns 100% of the equity interest | — | Non-Core Energy Subsidiary | |||||
Ameresco CT LLC | limited liability company | DE | Borrower owns 100% of the equity interest | — | Non-Core Energy Subsidiary | |||||
HEC/Tobyhanna Energy Project, Inc. | limited liability company | MA | Ameresco Select, Inc. owns 100% of the issued and outstanding shares; 100 shares | 100 shares of common stock at $1.00 par value | Non-Core Energy Subsidiary | |||||
HEC/CJTS Energy Center LLC | limited liability company | DE | Ameresco Select, Inc. owns 100% of the equity interest | — | Non-Core Energy Subsidiary | |||||
ERI/HEC EFA-Med, LLC | limited liability company | DE | Ameresco Select, Inc. and NORESCO, LLC each own 50% of the equity interest | 50% equity interest | Special Purpose Subsidiary | |||||
Ameresco/Pacific Energy JV | general partnership | HI | Ameresco Hawaii LLC owns 99% of the partnership interest and Pacific Energy Strategies LLC owns 1% of the partnership interest | 99% partnership interest | Special Purpose Subsidiary | |||||
Ameresco S.A. | corporation | Greece | Borrower owns 99% of the issued and outstanding shares; 59,400 shares and AmerescoSolutions, Inc. owns 1% of the issued and outstanding shares; 600 shares | 60,000 registered shares | Foreign Subsidiary |
(a) | Material Indebtedness: |
1. | The Subordinated Note. | ||
2. | Indebtedness in respect of the Contingent Amount (as defined in the Exelon Acquisition Agreement) required to be paid by the Borrower pursuant to the Exelon Acquisition Agreement. | ||
3. | (see table below) |
CREDIT PARTY | LENDER | FACE AMOUNT | PROJECT NAME/TASK ORDER NUMBER | |||
Ameresco Federal Solutions, Inc. | Bank of America | $14,855,072 | (Coast Guard) HSCG83-08-R-3YD003 | |||
Ameresco Federal Solutions, Inc. | Bank of America | $ 5,861,340 | (Hill AFB Phase 3) DEAM3602NT41457-0003 | |||
Ameresco Select, Inc. | United Financial | $ 3,419,504 | (NREL) DEAD36-07GO27359 | |||
Ameresco Select, Inc. | United Financial | $ 6,372,437 | (Ft. Huachucha) DACA87-97-D-0001-0004 | |||
Ameresco Federal Solutions, Inc. | Bostonia Federal Leasing | $ 1,884,254 | (Hill AFB Mod.) DEAC2602NT41457-0001 Mod. 8 |
(b) | Liens: |
(c) | Material Contracts: |
1. | None. |
(a) | None. | |
(b) | None. | |
(c) | None. |
Company | Bank Name | Address | Type | Account Number | ||||
Ameresco, Inc. | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Checking | XXXXXXX | ||||
Ameresco, Inc. | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Deposit | XXXXXXX | ||||
Ameresco, Inc. | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Deposit | XXXXXXX | ||||
Ameresco, Inc. | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Deposit | XXXXXXX | ||||
Ameresco, Inc. | Bank of America Securities | 200 N. College Street, 3rd Floor, NC1-004-03-45, Charlotte, | Investment | XXXXXXX | ||||
Ameresco, Inc. | Citizen’s Bank | PO Box 6550, Providence, RI, 02940 | Checking(1) | XXXXXXX | ||||
Ameresco, Inc. | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Deposit | XXXXXXX | ||||
Ameresco Enertech, Inc. | Citizen’s Bank | PO Box 6550, Providence, RI, 02940 | Deposit(2) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Citizen’s Bank | PO Box 6550, Providence, RI, 02940 | Checking(3) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 303 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 304 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 305 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 306 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 299 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 300 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 301 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 302 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 311 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 312 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 313 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
AmerescoSolutions, Inc. | Wells Fargo Northeast, N.A. | 314 South Main Street, 12th Floor, Sale Lake City, UT 84111 | Deposit(4) | XXXXXXX | ||||
Ameresco Federal Solutions, Inc. | Suntrust Bank | Atlanta, GA | Checking(5) | XXXXXXX | ||||
Ameresco Federal Solutions, Inc. | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Checking | XXXXXXX | ||||
Ameresco Select, Inc. | Citizen’s Bank | PO Box 6550, Providence, RI, 02940 | Deposit(6) | XXXXXXX | ||||
Ameresco Select, Inc. | Black Rock | 100 Bellevue Parkway, Wilmington, DE 19809 | Deposit(4) | XXXXXXX | ||||
Ameresco Select, Inc. | Sovereign Bank | 5 Whittier Street, Framingham, MA 01701 | Deposit(4) | XXXXXXX | ||||
Ameresco Solar, Inc. | Regions Bank | 810 W. Main Street, Tomball, TX 77375 | Money Market(7) | XXXXXXX | ||||
Ameresco Solar, Inc. | Regions Bank | 810 W. Main Street, Tomball, TX 77375 | Checking(8) | XXXXXXX | ||||
Ameresco Solar, Inc. | Woodforest National Bank | 602 Lawrence Street, Tomball, TX 77375 | Checking(9) | XXXXXXX | ||||
Ameresco Solar, Inc. | Citizen’s Bank | PO Box 6550, Providence, RI, 02940 | Checking(10) | XXXXXXX | ||||
Ameresco Solar — Products LLC | Bank of America | PO Box 25118, Tampa, FL 33622-5118 | Deposit | XXXXXXX |
(1) | Account maintained for processing manual checks in the ordinary course. | |
(2) | Account maintained to collect receivables in connection with a Master Contract with the State of Tennessee Board of Regents. | |
(3) | Account maintained to collect receivables in connection with the FRR Contract DACA87-03-D-0007 with the US Army. | |
(4) | Accounts maintained in connection with Energy Conservation Project Financings (bond financing structures). | |
(5) | Account maintained to collect receivables in connection with the ESPC Contract DE-AC26-02NT41457 Task Order 0001 with the US DOE and MAC Contract F44600-03-D-0003 with Langley AFB. | |
(6) | Account maintained to collect receivables in connection with the ESPC Contract DE-AM36-99EE73682 Delivery Order N47408-02-F-4965 with the Marine Corp Base Quantico and ESPC DACA87-97-D-0001 Task Orders 1-3 with the US Army | |
(7) | Inactive money market account acquired as part of Ameresco Solar, Inc. acquisition. | |
(8) | Account acquired as part of the Ameresco Solar, Inc. acquisition and maintained to collect receivables. | |
(9) | Account acquired as part of the Ameresco Solar, Inc. acquisition and maintained to collect receivables. | |
(10) | Operating cash account. |
1. | See Schedule 5.14(a) and (b). |
1. | Investments made in the entities listed on Schedule 5.13. | |
2. | Investments in the accounts listed on Schedule 5.20. | |
3. | Investments under arrangements listed on Schedule 5.14(a)(3). |
REVOLVING CREDIT NOTE
$ | June ___, 2008 |
DOLLARS AND CENTS ($ )
AMERESCO, INC. | ||||
By: | ||||
Name: | ||||
Title: |
SWING LOAN NOTE
$3,000,000.00 | June ___, 2008 |
AMERESCO, INC. | ||||
By: | ||||
Name: | ||||
Title: |
AMERESCO, INC.
as Administrative Agent
100 Federal Street, Mail Stop MA 5-100-07-07
Boston, Massachusetts 02110
Attention: Ameresco, Inc. Account Officer
Interest Period: [one] [two] [three] [six] months; and |
AMERESCO, INC. | ||||
By: | ||||
Name: | ||||
Title: |
2
2
3
4
[NAME OF CREDIT PARTY] | ||||
By: | ||||
Name: | ||||
Title: | ||||
5
as Administrative Agent
100 Federal Street, Mail Stop MA 5-100-07-07
Boston, Massachusetts 02110
Attn: Ameresco, Inc. Account Officer
Re: | Amended and Restated Credit and Security Agreement, dated as of June ___, 2008, as amended from time to time, (the “Credit Agreement”) among Ameresco, Inc. (the “Borrower”), the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent (the “Administrative Agent”) |
Very truly yours, AMERESCO, INC. | ||||
By: | ||||
Name: | ||||
Enclosures | Title: | |||
Quarterly net income for the period of two consecutive fiscal quarters most recently ended is: | $ | |||
Quarterly net income for the period of two consecutive fiscal quarters most recently ended is required to be not less than: | $ | 1.00 | ||
Aggregate net income for the period of two consecutive fiscal quarters most recently ended is: | $ | |||
Aggregate net income for the period of two consecutive fiscal quarters most recently ended is required to be not less than: | $ | 1.00 |
* | As set forth in Section 8.10(a) of the Credit Agreement. |
The actual Tangible Capital Base as of the end of the fiscal quarter most recently ended is: | $ | |||
The Tangible Capital Base as of the end of the fiscal quarter most recently ended is required to be not less than: | $ |
* | As set forth in Section 8.10(b) of the Credit Agreement. |
(A) | Book net worth of Core Ameresco Companies on a consolidated basis: | $ | ||
plus | ||||
(B) | Outstanding principal amount of Subordinated Indebtedness: | $ | ||
minus | ||||
(C) | Total book value of all assets of Core Ameresco Companies on a consolidated basis treated as intangible assets under GAAP: | $ | ||
minus | ||||
(D) | Accounts receivable, notes receivable, other amounts due and owing from any Affiliate of a Core Ameresco Company: | $ | ||
minus |
(E) | Renewable Energy Project Guaranty Liabilities | $ |
Actual EBITDA for the Reported Period is: | $ | |||
EBITDA is required to be not less than: | $ | 20,000,000 |
* | As set forth in Section 8.10(c) of the Credit Agreement. |
(a) | consolidated net income of the Core Ameresco Companies during the Reported Period: | $ | ||||
plus | ||||||
(b) | for the Reported Period, the sum of (to the extent deducted in calculating net income of the Core Ameresco Companies): | |||||
(i) | income taxes accrued: | $ | ||||
(ii) | Interest Expense (see below for calculation): | $ | ||||
(iii) | amortization and depreciation: | $ | ||||
(iv) | losses attributable to equity in Affiliates which are not Subsidiaries (except to the extent paid in cash by Core Ameresco Companies): | $ �� | ||||
(v) | extraordinary or unusual losses1: | $ | ||||
(vi) | non-recurring items, fees and expenses associated with the transactions contemplated by the Credit Agreement, not to exceed $600,000 after the Effective Time: | $ | ||||
(viii) | aggregate amount received in cash by the Core Ameresco Companies in respect of regularly scheduled dividends or distributions from the Special Purpose Subsidiaries2: | $ | ||||
SUBTOTAL: | $ |
1 | Any payment required to be made by any Core Ameresco Company in respect of any Renewable Energy Project Guaranty Liability shall reduce net income of the Core Ameresco Companies and shall not be added back to EBITDA as an extraordinary loss. | |
2 | Not to include amounts received by the Core Ameresco Companies in connection with any sale, transfer or other disposition of assets or equity interests of any Special Purpose Subsidiary. |
2
minus | ||||||
(c) | for the Reported Period, the sum of (to the extent included in calculating net income): | |||||
(i) | extraordinary gains (determined in accordance with GAAP): | $ | ||||
(ii) | proceeds received in respect of Casualty Events, Dispositions, and any sale, assignment, transfer or other disposition by any Credit Party of equity interest of any Special Purpose Subsidiary: | $ | ||||
SUBTOTAL: | $ | |||||
plus/minus | ||||||
(d) | adjustments for Permitted Acquisitions during the Reported Period: | $ | ||||
TOTAL EBITDA: | $ |
(a) | interest in respect of Indebtedness accrued during such period, excluding capitalized debt acquisition costs and paid-in-kind interest: | $ | |||
plus (minus) | |||||
(b) | net amounts payable (or net amounts receivable) under Hedging Agreements accrued during such period (whether or not actually paid or received)3: | $ | |||
plus | |||||
(c) | all fees (including letter of credit fees and expenses) incurred under the Credit Agreement during such period: | $ | |||
TOTAL INTEREST EXPENSE: | $ |
3 | Excluding reimbursement of legal fees and other similar transactions costs and excluding payments required by reason of the early termination of Hedging Agreements in effect as of the Credit Agreement. |
3
The actual Total Funded Debt to EBITDA Ratio for the Reported Period is: | ___ to 1.00 | |
The Total Funded Debt to EBITDA Ratio for the Reported Period is required to be not greater than: | 2.00 to 1.00* |
* | As set forth in Section 8.10(d) of the Credit Agreement. |
(A) | Total Funded Debt of Core Ameresco Companies as of the end of the Reported Period: | $ | ||
divided by | ||||
(B) | EBITDA of Core Ameresco Companies for the Reported Period: | $ |
The actual Debt Service Coverage Ratio for the Reported Period is: | ___ to 1.00 | |
The Debt Service Coverage Ratio for the Reported Period is required to be not less than: | 1.50 to 1.00 |
* | As set forth in Section 8.10(e) of the Credit Agreement. |
(A) | the result for the Reported Period of: | |||||
(i) | EBITDA of the Core Ameresco Companies: | $ | ||||
minus | ||||||
(ii) | Capital Expenditures made by the Core Ameresco Companies: | $ | ||||
minus | ||||||
(iii) | aggregate amount paid in cash by the Core Ameresco Companies in respect of income, franchise, real estate and other like taxes: | $ | ||||
minus | ||||||
(iv) | dividends, withdrawals and other distributions paid in cash by the Core Ameresco Companies: | $ | ||||
SUBTOTAL: | $ | |||||
divided by | ||||||
(B) | the sum for the Reported Period of: |
4
(i) | all regularly scheduled payments of Indebtedness: | $ | ||||
plus | ||||||
(ii) | all Interest Expense: | $ | ||||
SUBTOTAL: | $ |
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3
4
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PLEDGORS AMERESCO, INC. | ||||
By: | ||||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO ENERTECH, INC. | ||||
By: | ||||
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: | ||||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
AMERESCO PLANERGY HOUSING, INC. | ||||
By: | ||||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
9
SOLUTIONS HOLDINGS, LLC By: Ameresco, Inc., its sole member | ||||
By: | ||||
Name: | Andrew B. Spence | |||
Title: | Vice President & Chief Financial Officer | |||
AMERESCO FEDERAL SOLUTIONS, INC. | ||||
By: | ||||
Name: | Andrew B. Spence | |||
Title: | Treasurer | |||
SIERRA ENERGY COMPANY | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SELECT, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO HAWAII LLC By: Ameresco, Inc., its sole member | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO SOLAR — SOLUTIONS, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
10
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 LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERESCO NORTHAMPTON LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
11
ADMINISTRATIVE AGENT BANK OF AMERICA, N.A., individually and as Administrative Agent for the Secured Parties | | |||
By: | ||||
Name: | John F. Lynch | |||
Title: | Senior Vice President |
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(to Pledge Agreement)
No. of | Certificate | |||||||||
Pledgor | Issuer and Address | Description | Shares | No.(s) | ||||||
Ameresco, Inc. | AmerescoSolutions, Inc. | |||||||||
Ameresco, Inc. | Ameresco Planergy Housing, Inc. | |||||||||
Ameresco, Inc. | Ameresco Enertech, Inc. | |||||||||
Ameresco, Inc. | Ameresco Canada Inc. | |||||||||
Ameresco, Inc. | Sierra Energy Company | |||||||||
Ameresco, Inc. | Ameresco Select, Inc. | |||||||||
Solutions Holdings, LLC | Ameresco Federal Solutions, Inc. | |||||||||
Ameresco Solar LLC | Ameresco Solar — Solutions, Inc. |
13
No. of | Certificate | |||||||||
Pledgor | Issuer and Address | Description | Shares | No.(s) | ||||||
Ameresco, Inc. | Solutions Holdings, LLC | |||||||||
Ameresco, Inc. | Ameresco Solar LLC | |||||||||
Ameresco, Inc. | Ameresco Woodland Meadows LLC | |||||||||
Ameresco, Inc. | Ameresco Northampton LLC | |||||||||
Ameresco, Inc. | Ameresco Hawaii LLC | |||||||||
Sierra Energy Company | E. Three Custom Energy Solutions, LLC | |||||||||
Ameresco Solar LLC | Ameresco Solar — Products LLC | |||||||||
Ameresco Solar LLC | Ameresco Solar-Technologies LLC | |||||||||
Ameresco Hawaii LLC | Ameresco/Pacific Energy JV |
14
(to Pledge Agreement)
15
under the Credit Agreement described below,
and the Lenders party thereto
100 Federal Street
Boston, MA 02110
(1) | the Credit Agreement; | ||
(2) | the Revolving Credit Notes issued by the Borrower as of the date hereof; | ||
(3) | the Swing Loan Note; | ||
(4) | the Pledge Agreement; | ||
(5) | the Subordination Agreement; | ||
(6) | the Uniform Commercial Code (“UCC”) Financing Statements copies of which are attached hereto as Exhibit A (the “UCC Financing Statements”); | ||
(7) | the Perfection Certificates completed and executed by the Borrower and each Guarantor; | ||
(8) | the Certificate of Incorporation, Certificate of Formation, bylaws, operating agreements, and other organizational documents of the Borrower and each of the Guarantors; and | ||
(9) | the Certificate of good standing for the Borrower and each of the Guarantors. |
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3
4
5
(i) | the effectiveness of DE UCC and MA UCC financing statements will lapse at a statutorily defined time (generally five years after the date of filing) unless a continuation statement is filed prior to such lapse in accordance with the DE UCC or the MA UCC, as applicable; | ||
(ii) | Section 9-507(c) of each of the DE UCC and MA UCC provides that, if a debtor so changes its name that a filed financing statement becomes seriously misleading, the filing is not effective to perfect a security interest in collateral acquired by such debtor more than four months after the change unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the change; | ||
(iii) | under certain circumstances described in Section 9-315 of each of the DE UCC and MA UCC, the rights of a secured party to enforce a perfected security interest in proceeds of collateral may be limited; | ||
(iv) | continued perfection of security interest may require the filing of new appropriate financing statements or of amendments to financing statements in the event of a |
6
change of the name, location or legal identity of structure of the borrower or, in certain cases, the location of the collateral; |
(v) | Section 552 of the United States Bankruptcy Code (11 U.S.C. § 552) limits the extent to which property acquired by a debtor after the commencement of a case under the Bankruptcy Code may be subject to a lien resulting from any security agreement entered into the debtor before the commencement of the case; and | ||
(vi) | under certain circumstances described in Section 9-320 of each of the DE UCC and MA UCC, purchasers of collateral may take the same free of a perfected security interest. |
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8
9
2
3
AMERESCO, INC. | ||||
By: | ||||
Name: | ||||
Title: | Chief Financial Officer | |||
OF
ASSIGNMENT AND ASSUMPTION
1. | Assignor[s]: | |||||
2. | Assignee[s]: | for each Assignee, indicate Affiliate of [identify Lender]] | ||||
3. | Borrower: | Ameresco, Inc. | ||||
4. | Administrative Agent: Bank of America, N. A., as the administrative agent under the Credit Agreement |
5. | Credit Agreement: Amended and Restated Credit and Security Agreement, dated as of June ___, 2008, among Ameresco, Inc., as Borrower, the Guarantors party thereto, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent | |||||
6. | Assigned Interest[s]: |
Aggregate | ||||||||||||||||||||||||
Amount of | Amount of | Percentage | ||||||||||||||||||||||
Commitment/ | Commitment/ | Assigned of | ||||||||||||||||||||||
Facility | Loans | Loans | Commitment/ | CUSIP | ||||||||||||||||||||
Assignor[s] | Assignee[s] | Assigned | for all Lenders | Assigned | Loans | No. | ||||||||||||||||||
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$ | $ | % |
ASSIGNOR [NAME OF ASSIGNOR] | ||||
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ASSIGNEE [NAME OF ASSIGNEE] | ||||
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[Consented to and] Accepted: Bank of America, N. A., as Administrative Agent | ||||
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[Consented to:] | ||||
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