EFTA01366940.pdf

Amendment #4 Page 511 of 868 tatter 1nomnt The masons d the constructer) loans are mckded in the 'Common Terms Agreement' vie 'Master Security and Account Agreement' the 'Equity Oomnbuton and Share Retention Agreement', the intercreditor Ageerrent. the 'Security Trust Ageernent and Ire three 'Loan Agreements' The loan documents estadish affirmative, negative and certain francal covenants for the Company. The loans tor the financing of construction are sewed by we Project and Maas:sets with Banco SCT S A acting asset:trey trustee and onshore Accout Bark Loans for the purcrese of lard are secured by a mortgage en said land These bens were speoficasy permitted by the grantor of tre BOT OCE), we retains residual interest through its ably to step into the bans or pay them off to maintain control of tne Project in the evert that the Company defaults on such obligations On September Z 2014 me Company entered into an unsecured subordinated ban agreement with a related party. Administration de Energies Renegades. S A Debt payments. inading pnrcipal and interest veal be made in April and October of each year, from 2015 up to Aped 2033 As of March 31. 2015 accrued interest on notes and bans payable amounts to US51.680.651 (December 31. 2014 US9593.229) 10. Income tax and deferred Income tax The Company calculates the penod income tax expense using the tax rate that would be applicable to the expected total annual earnings. The major components of income tax expense in the interim condensed statement of comprehensive iroome are. For the three months ended 'Audit*, March al, 2015 2014 Current income tax expense $ — S Deferred income tax expense relating to onginalon and reversal of temporary differences (1,525,760) (68,292) Income tax expense recognaed in statement of comprehensive income S (1,626,719 S (68292) F.191 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058468 CONFIDENTIAL SDNY_GM_00204652 EFTA01366940