EFTA01367040.pdf

Amendment #4 Page 611 of 868 ra Diana, S. Borrowings The Group's until tydroelectic and wind energy generating facia*, are owned and operated in separate legal entities for which the costs d CeveOpment and constaction have teen financed by borrowings with Brazilian development bate thretch propel entity specie debt secured by the project entity assets with no recourse to the Parent The Outstanding balances under these financing arrangements at December 31 2014 and 2013 are arnmanzed as follows 12/31/14 12,1,13 0181008 Cavell Nonagon Caret Noncal•ra Cann frionenee Imam .54 lama Paidgml Tots Panted Intern Platted Tad Panda. Mena Peindpiel Tad land Pelreflal Told mots T.LP • 1.0% 10216%04 2.026 00.625 03025 eosin 2604 00.200 02034 661.561 3247 37.766 41.033 72T/4 832.36 004.02 EivesES-Sumwri. TAP 14 1527 1541 5 419 II 90 f67 4482 17 446 463 a 1.26 3516 840 s.01%0+ — 507 5807 93730 20 5536 5.%O 96036 816 5617 0,436 — 102.172 102172 84600055.44041 24131 0 040 70089 001.271 2806 06.742 09.30 902000 4 082 43640 4701 7280 90) 904 1.01810 5, Debt eaunoe cot — (6171 alb ISM — (617) (6171 4849 — — — — 110.074i till074, Taal 2.03) 07.432 70071 KO 046 2636 0 125 0.700 053650 4 062 0640 47.01 7250 077.812 1003725 BVDES Agreements—The Group's ward energy generation projects !eve been financed through the Bahian Natonal Development Bank (Banco Netonal de Desermpanmenfo &or/Comm et Serval—BNCES) in tie total amount cf RS 893,457 Borrowings accrue interest at variable rates based di the Long-term Irterest Rate (rasa da Juros de Longo Prazo—TJLP) as offered by ENDES plus a credt spread ranging from 1.92% for subedary entities of Salvador and 2 18% for subeclary entities of Bahia For Me veers ended December 31. 2014 and 2013, TJLP was 5 5% Pnncipal and interest are payable marshy from May 2013, with final makmty in 2029 The project are also financed by sub-loans with ergOES, which have an ottstanOng principal amount of R 96.960 The sip-loam tear variable interest at TJLP rate, arc mature in 2019 and 2029 for Bahia and Salvador respectively Borrowings under Ire MOBSrnerong agreements are seeded by a deOge of the Metes of all Sti3810181030 or Bahia arc Salvador, eutaManteilly all the operating assets of the operating subsdenes, and rights to receivables and cash collections on the Mtge sales of electricity Wider Ire subsdares' PPAs Ad homy. these ageements require that the to maintain funds in restricted deposal accounts as collateral 0115 guarantee for the related torrovengs, equivalent to three monde d dal ServiCe and three MOMS of operation and manteranoe expenses (see note 9) Thetie agreements contain customary representations. covenants and wananhes of the borrower redoing limitations on busness active's guararties, environmental matters. and project mairdenance standard{ Addlenay, the agreemerlIS leatille the maintenance of a minimum debt service coverage ratio. DS 0404100 in the agreements. of 1 3 1 At December 31 2014 Ow Group was in ca plaice wilh all related rzwenares under the indwasal financing agreements BNB Apreemeras—The Group's small hydroelecnc energy genration projects have been financed though the Bank of We Northeast of Braze (Banco do Mordents do Brasu—BNB) for a total amount of RS 120 096 Borrowngs under tat agreements are subject to fared rate interest of 9,5% per mourn fr isch can be reduced to 808% due to a 15% bmely payment bonus), wthor ncipai and interest payable earthly with feral maturity in 2026 Borrowings meet the BNB financing agreements are seared by a pledge of the shares of an subsidiaries Of Esprit sdaStanbary all the Operating assets d the operating sutedenes. and ngrts to tetanal:6es aid cash contender:a the haute swes of electricity unser the stteidianes' PPAs samonew these agreements require that Me aJterdenes maintain finds in a restricted depose accoux as mesterei and guarantee for the related borrowings (see note ,4 These agreements contain customary representations, covenants arc warranties of the borrower inducing limestone on borstal actrateS. guarantees environmental matters, and project maintenance standards Al December 31, 2014 the Group was in comptiance with all related covenants under the inividual finanong ageements F-291 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-0058568 CONFIDENTIAL SDNY_GM_00204752 EFTA01367040