EFTA01367280.pdf

Amendment #4 Page 851 of 868 titier I•I The provisiore d the constructai loans are included in the 'Common Terms Agreement the 'Master Seosity and Account Agreement the 'Equity Conte button and $hare Reterton Agreement , the -Irtercredtor Agreement, the 'SecurtyTrLst Agreement, and the three 'Loan Agreements' T re loan documents establish affirmative negative and certain financial covenants for Ire Company. Ire loans for Ire financng 01construction are seared by the Project and an is assets, wth Banco BCT, S A acting as securly trustee and onshore Account Bark Loans for the purchase of land are sewed by a mortgage on said lard These bens were specifically pemorted by the grantor of the DDT (ICE), who retains its residual interest through is ability to step into the loans or pay them off to maintain control of the Protect in the evert that the Company delauns on such obbgabons. The afdementiOned loan agreements do not contain any financial covenant ratios requiring compliance On September 2 2014 be Company entered into an unseated subordinated loan agreement with a related party. Admnistrao0n de Ererglas Renovades, S A Dell payments including pnropel and interest, will be made in April and October of each year, from 2015 up to April 2033 Debi agreements contained Ire blowing financial covenants. Breaches n rreetng the financial covenants would permit the lenders to imrrediatery call loans and tonowinge Distribution satiation...tits Debt service coverage ratio (historical) 1 25x Debt service coverage ratio (projected) 1 30x Debt to equity ratio 75 25 00 Senor deb? ciwched by (+ daemon) Eqisty owl (cap)rssatuaton + SHL + infra-900es+ (0. $7 SW Financial maintenance covenants Debt service coverage ratio Same as above Debt to equity ratio Same as above As d December 31, 2014, the Company rs n compliance wth these 'tandem covenants As of DeCenter 31. 2014 accrued interest on notes and bans payable amounts to US3693 229 (2013 0532) Deemed finance costs Deferred finance costs of USS2.354,052 as of Decanter 31, 2013 related to notes and loans payable for the financing of quatfpng assets under constructon These COOS were 'Maly recognized as noncurrent assets and subsequently reclassified to the holes and loans payable balance as the funds from the feenorg were substantially withdrawn by the Company dieing 2014 12. Accounts payable 2014 2013 Commercial verKkxs 123,014 S 305.687 Related centres INOte 14) 252 123.04 S 305.939 F.531 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-0058808 CONFIDENTIAL SDNY_GM_00204992 EFTA01367280