ADDENDUM No. 01 TO THE LOAN AND SECURITY AGREEMENT BY AND BETWEEN
ADDENDUM No. 01 TO THE LOAN AND SECURITY AGREEMENT BY AND BETWEEN
Energea Portfolio 5 LATAM LP and Helios Energía S.A.S.
E.S.P.
Dated: February 28, 2026
This Addendum No. 01 (the
"Addendum") to the Loan and Security Agreement, dated as of
January 22, 2025 (the "Agreement"), is entered into as of February 28,
2026 (the "Effective Date"), by and between Energea Portfolio 5 LATAM LP, a
Delaware limited partnership ("Energea"), and Helios Energía
S.A.S. E.S.P., a Colombian utility services provider company ("Helios")
(collectively, the "Parties").
RECITALS
WHEREAS the Parties
entered into that certain Loan and Security Agreement, dated as of January 22,
2025, which sets forth the terms and conditions under which Energea provides
financing and security arrangements to Helios;
WHEREAS the Parties recognize the evolving nature of
Colombia's electricity regulatory framework and acknowledge Helios's strategic
intent to expand its portfolio
beyond Government Projects
and Energea Projects
by investing in additional
forms of distributed solar generation, including commercial and industrial (C&I)
self-generation projects, community
energy initiatives, marginal producer
schemes, and virtual
self-generation arrangements, as permitted under
applicable Colombian law;
WHEREAS the Parties wish
to amend and restate Section 1.49 of the Agreement to reflect this broader
scope and ensure that such projects are duly included within the contractual
definition of "Projects" for purposes of financing, oversight,
reporting, and compliance under this Agreement, subject to perimeter controls
to prevent leakage;
WHEREAS the Parties acknowledge that Section 1.66 of
the Agreement designates Credicorp Capital Fiduciaria S.A. as the
Trustee responsible for administering the Trust in accordance with the Trust
Agreement and applicable laws, and the Parties have agreed to allow for the
appointment of any fiduciary entity duly authorized to operate in Colombia,
provided such entity is selected by Helios and approved in writing by Energea;
WHEREAS the Parties
acknowledge that the Agreement refers to the term "Indebtedness"
without providing a definition, and, for the purposes of legal
certainty and contractual clarity, the Parties
wish to incorporate a definition that reflects their mutual understanding;
WHEREAS the Parties wish
to implement lender-grade cash capture and payment discipline through
controlled accounts and standing instructions, including during any interim
period before the Trust becomes effective;
WHEREAS the Parties agree to maintain liquidity
protection through a Debt Service Reserve Account ("DSRA")
with backward-looking reserve sizing consistent with the Reserve structure
under the Agreement, enforceable mechanics, controlled account treatment, and
objective replenishment rules aligned with the government payment cadence;
WHEREAS the Parties wish
to resolve concerns regarding enforcement of security interests by implementing
fair enforcement guardrails, including enforcement amount caps applicable to
all security interests under the Loan Documents, independent valuation, surplus
return mechanisms, two-tier enforcement sequencing, and a fraud carve-out;
WHEREAS the Parties agree to implement
perimeter controls to prevent leakage
through additional projects, side vehicles, and
related-party channels, and to upgrade reporting so the Lender can monitor
compliance on a monthly basis;
WHEREAS the Parties acknowledge that Section 1.45 of the Agreement, which defines the role of the Operational Assigned Manager, requires further clarification to reflect the
scope and nature of such role;
WHEREAS the Parties recognize that the Agreement treats
all Events of Default uniformly and does not differentiate cure periods or
consequences based on the nature or severity of the underlying breach, and the
Parties wish to establish a proportionate default classification framework that
preserves Energea's full enforcement rights while providing structured cure
opportunities for operational and administrative defaults;
WHEREAS the Parties agree
to implement binding
minimum technical requirements for all equipment deployed in Projects to ensure quality, performance,
and compliance with Energea's technical standards;
WHEREAS the Parties wish to provide
for an automatic adjustment to the amortization structure of future
Advances in the event of a sovereign credit downgrade
of the Republic of Colombia, in order to mitigate increased country risk;
WHEREAS the Parties wish
to amend the voluntary prepayment provisions of the Agreement to permit
prepayment at any time without premium, penalty, lockout period, or minimum or
maximum holding period;
WHEREAS the Parties
wish to establish differentiated response periods
for Advance Requests
and to confirm that the Right
of First Refusal under Section 5.2.12 of the Agreement constitutes the
contractual remedy in the event Energea declines or delays an Advance, with any
resulting third-party financing subordinated to the obligations under this
Agreement;
WHEREAS the Parties
wish to establish a tiered dispute
resolution mechanism that provides for local arbitration for disputes below USD 5,000,000 and ICC arbitration for disputes at or above USD 5,000,000, replacing the existing
dispute resolution provisions
of the Agreement;
WHEREAS the Parties
wish to amend the definition of Material Adverse
Effect to ensure comprehensive coverage
of events that could
materially affect the Parties' rights and obligations under this Agreement, and
to establish a binding amigable componedor
mechanism through the Cámara de Comercio de Barranquilla (Chamber of Commerce) for the determination of non-curable Material
Adverse Effects;
WHEREAS the Parties wish
to require that material suppliers and contractors execute subordination
acknowledgments to protect the priority of Energea's secured claims and to
limit aggregate exposure to unsubordinated trade obligations;
WHEREAS the Parties agree
that Energea shall designate a local operational representative in Colombia to
facilitate communications, banking coordination, and administrative matters
under this Agreement;
WHEREAS, the Parties acknowledge that Helios has
outstanding trade payables to vendors, contractors, and service providers that
arose prior to the date of this Addendum and that are distinct from the
corporate debt obligations addressed in Section 3.1.6, and the Parties wish to
establish a structured paydown framework for such legacy obligations through
project cash flows, with appropriate subordination and sequencing provisions;
NOW, THEREFORE, in consideration of the mutual
covenants herein and for good and valuable
consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties agree to amend the Agreement as follows:
AMENDED CLAUSES
1. Amendment and Restatement of Section 1.45 - Operational Assigned Manager
Section 1.45 of the Agreement
is hereby amended
and restated in its entirety
as follows:
"1.45 Operational
Assigned Manager means the individual designated to serve as the Chief
Executive Officer (CEO) of Helios and its Subsidiaries, with full
authority over governance and operational decision-making, including strategic,
financial, and operational matters. The designation of the Operational Assigned Manager as CEO shall not, in and of itself,
be construed as implying legal representation under Colombian Commercial Law or
any other applicable regulations, unless otherwise expressly determined by
Helios in accordance with its corporate governance structure.
The initial Operational Assigned Manager shall be ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇. Within thirty (30) days following the execution of this Addendum, the
Board of Directors of Helios shall formally ratify his designation in
accordance with the corporate governance procedures of Helios. Helios shall
also amend its bylaws within sixty (60) days of execution to formally codify
this role and structure. Any subsequent replacement of the Operational Assigned
Manager shall be subject to Energea's prior written approval.
Helios shall grant ▇▇. ▇▇▇▇▇▇▇▇▇ a general and irrevocable power of
attorney sufficient to enable him to execute, perform, and enforce
all agreements, financial
transactions, regulatory filings,
and operational decisions
necessary to fulfill
Helios's obligations under the Agreement and related documents. Any revocation, limitation, or suspension of such power
of attorney without the prior written
consent of Energea
shall constitute a material breach
of this Agreement and may trigger
an Event of Default under
Section 6.1."
2. Amendment and Restatement of Section 1.49 - Projects
Section 1.49 of the Agreement is hereby amended
and restated in its entirety
as follows:
"1.49 Projects means all solar energy projects owned and/or
operated by Helios or any of its Subsidiaries, including but not limited to:
1.49.1
Government Projects means solar energy
projects financed or subsidized by government programs
or agencies, including
renewable energy initiatives, microgrid systems, and other installations in
Zonas No Interconectadas (ZNI) designated by government policy. These projects
are subject to the terms, conditions, and oversight of the applicable Government
Authorities and generate Government Payments as defined in this Agreement.
1.49.2 Energea Projects means solar energy projects developed, owned, or operated
by Helios or its Subsidiaries that are financed, in whole or in part, through this Agreement.
1.49.3 Commercial and Distributed Projects means
any solar energy
project developed, owned,
or operated by Helios
or its Subsidiaries under models permitted by Colombian electricity law and
regulation, including but not limited to:
(a) self-generation projects in the commercial and industrial (C&I) sectors; (b) virtual self-generation (autogeneración virtual); (c) solar
farms (granjas ▇▇▇▇▇▇▇); and (d) any other renewable energy activity approved
in writing by Energea.
For the
avoidance of doubt, all Commercial and Distributed Projects are subject to the
Perimeter Covenant set forth in Section 5.2.13, including without limitation
the requirements for Energea's prior written consent, security, cash sweep,
reporting, and permitted SPV structure. No Commercial or Distributed Project
may be originated, developed, invested in, or
operated except in full compliance with Section 5.2.13.
Any Commercial or Distributed Project
that is not in compliance with Section 5.2.13 at the time
of origination or at any time thereafter shall constitute a breach of this
Agreement."
3. Amendment and Restatement of Section 1.66 - Trustee
Section 1.66 of the Agreement is hereby amended
and restated in its entirety
as follows:
"1.66 Trustee
means any fiduciary entity duly authorized to operate in Colombia under
applicable financial and fiduciary regulations, which shall be appointed by
Helios and approved in writing by Energea. The Trustee shall be responsible for
the independent administration, custody, investment, and disbursement of the
Trust's funds and assets in accordance with the terms of the Trust Agreement
and all applicable laws.
The Trustee shall act solely in its fiduciary capacity and shall not be
deemed an agent or representative of either Party under this Agreement. Once
appointed, the Trustee may only be replaced with Energea's prior written
consent.
For the
avoidance of doubt, while the Trust Agreement has not yet been executed, its
implementation remains a binding obligation
of Helios and shall be completed as a post-closing requirement. The Agreement and this Addendum
shall remain fully effective
notwithstanding the current absence of the Trust. During the Interim Period (as
defined in Section 9.1), all cash management shall be governed by the
Controlled Accounts and Interim Waterfall provisions set forth in Section 9."
4. Insertion of Section 1.73 - Definition of Indebtedness
A new Section 1.73 is hereby inserted into the Agreement
as follows:
"1.73 Indebtedness means any and
all obligations of Helios or its Subsidiaries, whether direct or indirect,
current or contingent, secured or unsecured, that:
(i) arise from financial or corporate borrowings, including but not limited to loans,
lines of credit, promissory notes, debentures, or other debt instruments; (ii)
result from obligations to suppliers under deferred payment terms,
commercial or operational agreements,
or project-related accounts
payable; (iii) derive
from any leasing, factoring,
or similar financial arrangement; or (iv) generate, accrue, or are otherwise
subject to the payment of interest or other financial charges. For the
avoidance of doubt, Indebtedness shall include all obligations that have a
financial repayment component, whether classified as financial debt, commercial
liabilities, or quasi-debt instruments."
5. Amendment and Restatement of Section 3.1.6 - Termination of Existing Indebtedness
Section 3.1.6 of the Agreement is hereby amended
and restated in its entirety
as follows:
"3.1.6
Termination or Subordination of Existing Indebtedness. The termination or full
subordination of all existing indebtedness of Helios and its Subsidiaries, as
listed in Schedule 4 - Corporate Debt, to the Obligations under this Agreement shall
be a Condition Precedent to the effectiveness of this Agreement and to any Advance.
Such repayment may be made using the proceeds of the
First Working Capital Advance, provided that
(a)
all
payments to corporate debt creditors listed on Schedule 4 - Corporate Debt
shall be made directly from the Revenue Controlled Account
(or, following the Trust Effective Date, the applicable Trust account) to the creditor, and Helios shall not receive, hold, or intermediate such funds;
(b)
Helios
delivers payoff instructions, lien release documentation, and proof of payment
(including bank transfer confirmation and creditor acknowledgment of receipt) to Energea within
five (5) Business
Days of each disbursement;
(c) any Advance used for payoff purposes
shall be conditioned on Energea receiving satisfactory lien releases and/or
subordination agreements prior to or concurrently with disbursement; and
(d) Helios shall include in each Monthly
Report delivered under Section 5.2.1(c)
the outstanding balance
of remaining Corporate Debt,
payments made during the reporting period (with proof of payment), and expected
extinguishment timeline, until all Corporate Debt is fully extinguished."
6.
Amendment and Restatement of Section 3.1.10
- Corporate Governance Adjustments
Section 3.1.10
of the Agreement is hereby
amended and restated
in its entirety as follows:
"3.1.10 Corporate Governance Adjustments. Helios shall implement the
necessary corporate governance adjustments to ensure full compliance with this Agreement. Such adjustments may be effected
through amendments to its bylaws,
corporate charter, or other governing instruments, or through
resolutions adopted by its Board of Directors or Shareholders' Assembly, as
applicable, provided that the following conditions are met:
(a) The Operational Assigned Manager shall
oversee governance and decision-making exclusively for Helios. The designation
of the Operational Assigned Manager as CEO and the granting of full authority
over strategic, financial, and operational matters shall not require amendments
to Helios's bylaws or corporate charter, but shall be subject to formal
ratification by the Board of Directors within thirty (30) days of the date of
this Addendum. Helios shall amend its bylaws within sixty (60) days thereafter
to formally codify the governance structure.
(b) The
Board of Directors
of Helios shall be authorized to make decisions related to the performance of this Agreement and any Loan Document, including the use of Advances, financial
administration, and implementation of project-related obligations,
subject to the affirmative vote of the Operational Assigned Manager.
(c)
The Shareholders' Assembly
of Helios shall be restricted from modifying the bylaws, reversing corporate
actions related to this Agreement, or taking any action that would materially
affect Energea's rights or security interests, without the affirmative vote of
the Operational Assigned Manager and Energea's prior written consent.
(d) Any additional governance measures
required to preserve the enforceability of this Agreement or safeguard
Energea's collateral rights shall be promptly adopted by Helios upon Energea's
reasonable request."
7.
Amendment and Restatement of Section 5.2.4(c)
- Management of
Subsidiaries
Section 5.2.4(c)
of the Agreement is hereby
amended and restated
in its entirety as follows:
"5.2.4(c)
Management of Subsidiaries. Helios shall ensure that all newly formed or
acquired Subsidiaries are duly incorporated and registered in accordance with
applicable Colombian law, including timely registration with the relevant
Chamber of Commerce. Such Subsidiaries shall be managed directly by Helios in
accordance with the governance and reporting obligations set forth in this
Agreement.
Ownership or control of all newly formed or acquired Subsidiaries shall be transferred or pledged to the Trust in accordance with Section 4, unless
otherwise approved in writing by Energea. Any Subsidiary allowed to remain
outside the Trust perimeter shall nevertheless be subject to: (i) equity pledge
in favor of Energea; (ii) controlled account treatment for all accounts; (iii) the same waterfall and sweep mechanics applicable to Helios;
and (iv) reporting
requirements equivalent to those of Helios under Section 5.2.1.
For the avoidance of doubt, this clause shall not be construed as a
waiver of Energea's collateral rights over project-level cash flows,
receivables, or other assets contractually linked to any Advance under this
Agreement."
8.
Amendment and Restatement of Section 5.4.3 - Reserve
Requirement (DSRA)
Section 5.4.3 of the Agreement is hereby amended
and restated in its entirety
as follows:
5.4.3 Debt Service Reserve
Account (DSRA).
(a) DSRA Requirement. Helios shall
maintain an aggregate balance in the DSRA (as defined below) equal to six (6)
times the Projected Scheduled Debt Service (the "DSRA Requirement");
provided that:
(i)
"Projected Scheduled
Debt Service" means, for any date of determination, the aggregate
amount of principal and interest payments that would be due under all
outstanding Advances during the calendar month immediately following such date,
calculated on the basis of the then-outstanding principal balance of all
Advances, including any Advance for which an Advance Request has been submitted
but not yet disbursed;
(ii) if the DSRA has been drawn upon more
than twice in any twelve (12)-month period, the DSRA Requirement shall
automatically increase to eight (8) times the Projected Scheduled Debt Service
(a "Reserve Step-Up"), and
such Reserve Step-Up shall remain in effect until ▇▇▇▇▇▇ has maintained
the DSRA at or above the stepped-up DSRA Requirement for six (6) consecutive
months without any draw; and
(iii) the DSRA Requirement shall be
recalculated as of (A) the date of each Advance Request, (B) each date on which
a Government Payment is received into the Revenue Controlled Account, and (C)
the first Business Day of each calendar month.
(b)
DSRA Control. The DSRA shall
be held in: (i) during the Interim Period, the Interim Reserve Account (as
defined in Section 9.1(j)),
subject to the Controlled Account
provisions set forth in Section
9; or (ii) following the Trust Effective Date, the Trust-administered
reserve account designated by the Trustee (in either case, the "DSRA").
No withdrawals from the DSRA shall be permitted except: (A) to satisfy
Scheduled Debt Service when other available funds in the Revenue Controlled
Account are insufficient to satisfy such obligations on the applicable payment
date (a "Permitted DSRA Draw"); or (B) upon the release
of excess funds above the DSRA Requirement following full replenishment, and only with Energea's prior written consent.
(c)
Permitted Use as Cash-Flow
Smoother. The Parties acknowledge that Government Payments are received on an irregular or periodic basis and that monthly debt
service obligations will routinely exceed available Revenue Controlled Account
balances in months during which no Government Payment is received. Accordingly,
Permitted DSRA Draws to bridge the timing mismatch between Government Payment
receipts and monthly Scheduled Debt Service shall constitute normal operating
use of the DSRA and shall not, in and of themselves, constitute a Default or
Event of Default, provided that Helios complies with the replenishment
obligations set forth in paragraph (f) below.
(d) Initial Funding. The Initial Reserve
Deposit shall be funded directly from the proceeds of the First Advance by
deposit into the Interim Reserve Account (or, if the Trust is then effective,
the Trust-administered reserve account) on the date of the First Advance
disbursement. The Initial Reserve Deposit shall be equal to the DSRA
Requirement calculated as of the date of the First Advance.
Such funding shall be a Condition Precedent
to any subsequent Advance.
For the avoidance of doubt, ▇▇▇▇▇▇ shall not be required to fund the Initial
Reserve Deposit from sources other than the First Advance proceeds.
(e)
Incremental Funding on New
Advances (Gross-Up). Each Advance subsequent to the First Advance shall include
an amount sufficient to fund the incremental increase in the DSRA Requirement resulting from the additional Scheduled Debt Service attributable to
such Advance (the "DSRA Gross-Up Amount"). The DSRA Gross-Up
Amount shall be calculated as: (i) the DSRA Requirement recalculated to include
the Projected Scheduled Debt Service attributable to the requested Advance;
minus (ii) the actual DSRA balance as of the date of the Advance Request. The
DSRA Gross-Up Amount shall be deposited directly into the DSRA from the Advance
proceeds on the date of disbursement. No Advance shall be disbursed
unless the DSRA Gross-Up Amount
has been included
in the Advance amount and the DSRA Adequacy Certification under
paragraph (k) has been delivered.
(f)
Replenishment Obligation. If the DSRA balance falls below the DSRA Requirement following one or more Permitted DSRA Draws (a "DSRA
Shortfall"), Helios shall replenish the DSRA to the full DSRA
Requirement as follows: (i) Primary Source: Waterfall. Upon receipt of a Government Payment into the Revenue Controlled Account, Helios shall apply funds to replenish the DSRA
in accordance with the priority set forth in Section 9.4(c) (or, following the
Trust Effective Date, the equivalent Trust waterfall tier). Replenishment shall
be completed within five (5) Business Days of receipt of such Government
Payment. (ii) Backstop Source: Corporate Funds. If, following application of
the Government Payment through the waterfall, the DSRA balance remains below
the DSRA Requirement, Helios shall fund the remaining shortfall from its own corporate funds or any other
source available to it, within ten (10) Business Days of receipt of such Government Payment. (iii) Failure
to replenish the DSRA to the full DSRA Requirement within the timeframes set forth in sub-paragraphs (i) and (ii) above following
receipt of a Government Payment
shall constitute an Event of
Default, classified as a Category 2 Short-Cure Default under Section
6.1A(b)(i).
(g)
Notification Floor. If the DSRA balance
falls below two (2) times the Projected
Scheduled Debt Service
at any time (the "DSRA Floor"): (i) Helios shall
notify Energea in writing within two (2) Business Days of becoming aware that
the DSRA balance has fallen
below the DSRA Floor; (ii) no Advance
Request may be submitted, and no Advance
shall be disbursed, until the DSRA balance has been restored to at least
the DSRA Requirement; and (iii) Energea may, in its sole discretion, require
Helios to deposit
all available cash in excess of approved
operating expenses into the DSRA until the DSRA balance
is restored to the DSRA Requirement. For the avoidance of doubt, a breach of the DSRA Floor
shall not, in and of itself, constitute an Event of Default, provided that
Helios complies with the notification and replenishment obligations set forth
in this Section 5.4.3.
(h)
Replenishment via Advance. Energea may, in its sole discretion, include in any Advance
an amount designated for DSRA
replenishment (a "DSRA Replenishment Advance"). The proceeds of any DSRA Replenishment Advance
shall be deposited directly
into the DSRA and shall not pass through any account controlled by Helios. For
the avoidance of doubt: (i) Helios shall have no right to request
or demand a DSRA Replenishment Advance; (ii) Energea's
decision not to include a
DSRA Replenishment Advance shall not constitute a waiver of any right or
remedy, including the right to
declare an Event of Default for failure to replenish under
paragraph (f); and (iii) a DSRA Replenishment Advance shall be
treated as an Advance for all purposes under this Agreement, including the
accrual of interest and the application of amortization schedules. (i) Checkpoint Compliance. The DSRA balance
shall be tested
for compliance with the DSRA Requirement at the following
checkpoints: (i) on the closing date of each Advance (after giving effect to
the Initial Reserve Deposit or DSRA Gross-Up Amount, as applicable); (ii) on
the fifth (5th) Business Day following receipt of each Government Payment into
the Revenue Controlled Account (after giving effect to waterfall application
and any corporate funds replenishment under paragraph (f)); and (iii) on the
first Business Day of each calendar month, for reporting purposes under
paragraph (j). Compliance with the DSRA Requirement is mandatory at the
checkpoints described in sub-paragraphs (i) and (ii) above. The checkpoint
described in sub-paragraph (iii) is for monitoring and reporting purposes only
and shall not independently trigger an Event of Default. (j) Monitoring and
Notification. Energea (or the Trustee, once appointed) shall monitor the DSRA
balance. Helios shall include in its Monthly Report the following: (A) the DSRA
Requirement calculation (including the Projected Scheduled Debt Service and the
applicable multiplier); (B) actual DSRA balance as of the reporting date; (C)
any Permitted DSRA Draws during the reporting
period, specifying date and amount;
(D) replenishment actions
taken, specifying source
(waterfall, corporate funds, or DSRA Replenishment Advance) and amount;
(E) DSRA Floor status; and (F) DSRA Requirement compliance at each applicable checkpoint
during the reporting period. (k) DSRA Adequacy Certification. Each Advance
Request submitted under this Agreement shall include a certification by Helios
(the "DSRA Adequacy Certification") setting forth: (A) the current
DSRA balance; (B) the Projected
Scheduled Debt Service
as recalculated to include the requested
Advance; (C) the DSRA Requirement after giving effect to the requested Advance;
(D) the DSRA Gross-Up Amount required; and (E) confirmation that, upon disbursement, the DSRA balance
will equal or exceed the DSRA Requirement. No Advance shall be
disbursed if the DSRA Adequacy Certification discloses a projected DSRA
Shortfall that would not be fully cured by the DSRA Gross-Up Amount included in
the Advance. (l) Interim Reserve Account Mechanics. During the Interim Period:
(i) the Interim Reserve Account shall be subject to maker-checker controls
under Section
9.3; (ii) no withdrawals shall be permitted without Energea's prior written approval,
except for Permitted
DSRA Draws under paragraph
(b)(A); (iii) Helios shall deliver
to Energea monthly
statements for the Interim Reserve
Account; and
(i) the
Interim Reserve Account
shall be identified on Schedule 11 together with the Revenue
Controlled Account. (m) Transition to Trust. Upon the Trust Effective Date, all funds
in the Interim Reserve Account
shall be transferred to the
Trust-administered reserve account
within five (5) Business Days, with evidence
of transfer provided
to Energea. From the
Trust Effective Date, the Trustee
shall administer the DSRA in accordance with the Trust Agreement, subject
to the DSRA Requirement, replenishment obligations, and checkpoint compliance requirements set forth in this Section 5.4.3."
9.
Insertion of Section
9 - Interim Period Provisions and Controlled Accounts
A new Section 9 is hereby inserted into the Agreement
as follows:
"9. INTERIM PERIOD PROVISIONS AND CONTROLLED ACCOUNTS
9.1
Definitions.
(a) "Interim Period"
means the period commencing on the date of this Addendum and ending on the
Trust Effective Date.
(b)
"Trust Effective
Date" means the date on which (i) the Trust Agreement has been
executed by all parties, (ii) the Trustee has been appointed and has accepted
its duties, and (iii) all Controlled Account balances and control mechanisms
have been transitioned to the Trust structure.
(c) "Controlled Account"
means any account subject to the maker-checker or dual-authorization controls
set forth in this Section 9, including the Revenue Controlled Account, the Interim
Reserve Account (or, following the Trust Effective Date, the Trust-administered
reserve account holding the DSRA), and any Operating Controlled Account.
(d) "Revenue Controlled Account"
means the existing Government Disbursement Account, or any successor account
approved in writing by Energea, into which all Government Payments, Subscriber
Payments, and other project cash proceeds are deposited.
(e) "Release Notice"
means a written notice issued by Energea to Helios confirming that all
Obligations under the Agreement and the Loan Documents
have been satisfied
in full, all security interests
have been released,
and no further amounts remain outstanding or contingent. Upon issuance of the Release
Notice, the Controlled Account structure, the Banking Attorney Resolution, and all
Supplier Subordination Acknowledgments shall terminate in accordance with their
respective terms.
(f)
"Approved Budget"
means the annual operating and capital expenditure budget submitted by Helios
to Energea within thirty (30) days of the beginning of each fiscal
year. Energea may object to specific line items within
fifteen (15) Business Days of
receipt, in which case the Parties shall negotiate in good faith to resolve any
objections; until such time as objections are resolved, the prior period
budget shall continue
to apply to disputed items.
Capital expenditures
exceeding
USD 250,000 individually (or USD 500,000 in the aggregate per fiscal year) that
are not included in the then-current Approved Budget shall require Energea's
prior written consent.
(g)
"Waterfall-Compliant"
means, with respect to any payment instruction, that such instruction (i) is
consistent with the priority order set forth in the Interim Waterfall (Section
9.4) or, following the Trust Effective Date, the Trust waterfall; and (ii) does not exceed
the aggregate amounts
reasonably consistent with the then-current Approved Budget for
the applicable expenditure category.
(h)
"Scheduled Debt Service" means,
for any calendar
month, the aggregate
amount of principal and interest payments due under all outstanding Advances during such month, as set forth
in the applicable amortization schedules delivered under Section 2.
(i) "Initial Reserve Deposit"
means the amount required to fund the DSRA to the DSRA Requirement as of the
date of the First Advance,
calculated in accordance with Section
5.4.3(a), to be funded
directly from the proceeds of the
First Advance in accordance with Section 5.4.3(d).
(j) "Interim Reserve
Account" means a segregated bank account at a bank approved in writing by Energea, designated for the purpose of holding DSRA funds during
the Interim Period,
subject to the Controlled Account
provisions set forth in this Section 9.
9.2
Controlled Accounts
Structure.
(a)
Designation. The existing
Government Disbursement Account is hereby designated as the Revenue Controlled
Account. Helios shall identify such account on Schedule 11 (bank name, account
number, currency) within five (5) Business Days of execution of this Addendum.
(b)
Sole Deposit Account
Covenant. Helios covenants that the Revenue Controlled Account shall be the
sole deposit account for: (i) Government Payments;
(ii) Subscriber Payments;
and (iii) any other project
cash proceeds or collateral
proceeds designated in the Loan Documents. Helios shall not open, maintain,
or use any other account
to receive such collections without Energea's prior
written consent.
(c)
Prohibition on Changes.
Helios shall not (i) change the government disbursement instructions directing
payments to the Revenue
Controlled Account, (ii) change the receiving bank or account,
or (iii) close,
merge, or alter the Revenue Controlled Account, in each case
without Energea's prior written consent.
9.3
Account Control
Mechanisms.
(a)
Maker-Checker Controls. Within fifteen (15) Business Days of execution
of this Addendum, Helios shall implement
maker-checker (dual authorization) controls on all Controlled Accounts, such
that any outbound transfer or payment requires approval from both (i) a
Helios-designated officer and (ii) an Energea-designated representative or an
automated approval system configured per Energea's instructions.
(b)
Bank Acknowledgement. Helios shall
deliver to Energea
a written acknowledgement from each Controlled Account bank confirming: (i) the maker-checker control structure; (ii) that the bank will not honor
payment instructions that do
not comply with such controls; and (iii) that the bank will provide
Energea with read-only electronic access to account
statements and transaction history.
(c)
Banking Special Attorney
(Apoderado Especial Bancario). Within fifteen (15) Business Days of execution
of this Addendum, Helios shall cause its shareholders or Board of Directors (as
applicable under its bylaws) to adopt a resolution substantially in the form of
Exhibit D (the "Banking Attorney Resolution"), appointing a
Banking Special Attorney (Apoderado Especial Bancario) designated by Energea,
subject to the following:
(i)
Scope of Authority. The
Banking Special Attorney shall serve as checker within the maker-checker scheme
established under paragraph (a) solely with respect to the Revenue Controlled
Account and the Interim Reserve Account (or, following the Trust Effective
Date, the Trust-administered reserve account holding the DSRA), collectively,
the "Controlled Revenue Accounts". The Banking Special
Attorney shall have no authority over Helios's operating accounts or any
account into which funds have been released in accordance with the Interim
Waterfall. For the avoidance of doubt, ▇▇▇▇▇▇ retains full autonomy over any account
funded by releases under paragraphs 9.4(d), (e), and (f) of the Interim
Waterfall.
(ii)
Permitted Banking
Operations. Within the Controlled Revenue Accounts, the Banking Special
Attorney's authority shall be limited to: approving payments, transfers, and
debits prepared by Helios's Treasury in accordance with the Interim Waterfall;
authorizing changes to signatories, beneficiaries, and e-banking profiles and
limits on the Controlled Revenue Accounts; issuing operational instructions to
account banks for waterfall execution; and signing
banking forms, KYC/AML
documentation, and account
maintenance documents related
to the Controlled Revenue Accounts.
(iii)
Exclusions. The Banking Special
Attorney shall have no authority
for: general legal
representation of Helios; contracting with third parties;
labor matters; disposing of assets other than permitted waterfall movements;
judicial representation; or modifying the Agreement, the Interim Waterfall, or any Controlled Account Agreement.
(iv)
Irrevocability. The Banking
Attorney Resolution shall be irrevocable while any Obligations remain
outstanding under the Loan Documents. The Banking Special Attorney
may not be removed,
replaced, or have its powers limited or delegated
without Energea's prior written consent.
If the Banking Special Attorney
dies, becomes permanently
incapacitated, resigns, or is otherwise unable to perform its duties (a "Checker
Vacancy Event"), Energea shall notify Helios in writing within two (2)
Business Days of becoming aware of such event and shall designate a replacement
within five (5) Business Days thereof. If the Banking Special
Attorney fails to respond to two (2) consecutive payment
instructions submitted by Helios within the applicable timeframes under Section
9.3(d)(i) without explanation, a Checker Vacancy
Event shall be deemed to have occurred
on the second Business Day
following the second unanswered instruction, and Energea shall designate a
replacement within five (5) Business Days of such deemed occurrence. Helios
shall cause its shareholders or Board of Directors to adopt a supplemental resolution appointing the replacement and shall complete
Registro Mercantil (Commercial Registry) registration within ten (10) Business Days thereof.
During any period between a Checker Vacancy Event and the effective appointment
of a replacement Banking Special Attorney (the "Vacancy Gap Period"),
the override mechanism set forth in Section 9.3(d)(iii) shall be available to
Helios upon delivery of a single written notice to Energea with one (1)
Business Day for Energea to respond, in lieu of the standard escalation
timeframes under Section 9.3(d)(i) and (ii). Failure by Energea to designate a
replacement, or failure to complete the appointment and registration, within
the specified timeframes shall constitute a Category 2 Short-Cure Default under
Section
6.1A(b).
(v)
Registration. Helios shall
cause the Banking Attorney Resolution to be (A) elevated to public document;
(B) registered at the Registro Mercantil of the competent Cámara de Comercio;
and (C) if required by any account bank, notarized and apostilled.
(vi)
Bank Instruction Letters.
Within ten (10) Business Days of registration, Helios shall deliver to each
bank holding a Controlled Revenue Account a Carta de Instrucciones instructing
the bank to recognize the Banking Special Attorney as checker, block any transaction
on the Controlled Revenue Accounts that does not carry the checker's approval,
and reject instructions from any Helios officer or employee that bypass the
maker-checker flow on such accounts.
(vii) SPV
Revenue Accounts. If any Subsidiary or Permitted SPV maintains a revenue account
that receives project cash proceeds, such account shall
either (A) sweep all proceeds into the Revenue Controlled Account within five
(5) Business Days of receipt, or (B) be designated as an additional
Controlled Revenue Account subject to the same maker-checker controls and
Banking Special Attorney authority under this Section 9.3(c).
(d)
Checker Response
Obligation.
(i) Response Timeframe. The Banking
Special Attorney shall
approve or reject
any payment instruction submitted by the treasury
of Helios or of any
Subsidiary with a Controlled Revenue
Account in accordance with the Interim Waterfall within three (3)
Business Days of receipt of a complete payment instruction package.
(ii) Checker Failure Notice. If the Banking
Special Attorney fails to approve or reject a waterfall-compliant payment
instruction within the three (3) Business Day period, ▇▇▇▇▇▇ may deliver a
written notice to Energea (a "Checker
Failure Notice") identifying the payment instruction and attaching evidence
of submission to the Banking Special Attorney. Energea shall
have three (3) Business Days from receipt
of the Checker Failure Notice
to cause the Banking Special
Attorney to act or to otherwise authorize the payment.
(iii)
Override Mechanism. If
Energea fails to cure within the three (3) Business Day period following
receipt of the Checker Failure Notice, Helios may instruct the account bank to
process the identified payment instruction. The Carta de Instrucciones delivered under Section
9.3(c)(vi) shall include
a provision requiring the bank to honor
such instruction upon presentation of: (A) the original payment
instruction; (B) copy of the Checker Failure
Notice with evidence of delivery; and (C) a certificate executed
by the Operational Assigned Manager
of Helios certifying that the payment is consistent
with the Interim Waterfall priority order (Sections 9.4(a) through 9.4(d)) and
the approved budget. This override mechanism shall not apply
to payments under
Section 9.4(e) (capital
expenditures) or Section 9.4(f) (general corporate releases), which
require affirmative Energea approval in all cases.
(iv) Reporting and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇. Helios
shall notify Energea in writing of any payment processed under the override
mechanism: (A) within one (1) Business Day of execution for any payment equal
to or exceeding USD 100,000; and (B) in the next Monthly Report delivered under
Section 5.2.1(c) for payments below USD 100,000. If Helios uses the override
mechanism for any payment that is not in fact consistent with the Interim
Waterfall or the approved budget, such use shall constitute a Category 1 Event
of Default under Section 6.1A(a).
(v)
Non-Interference Covenant.
The Banking Special Attorney shall exercise its authority solely as a control
function in accordance with this Section 9.3 and shall
not unreasonably withhold, delay, or condition approval of payment instructions that are consistent with the Interim
Waterfall and the approved budget.
The checker function shall not be used to interfere
with, obstruct, or diminish Helios's day-to-day operational autonomy over
matters outside the scope of the Controlled Revenue Accounts.
9.4
Interim Waterfall.
During
the Interim Period, all funds deposited into the Revenue Controlled Account
shall be applied in the following order of priority (the "Interim
Waterfall"):
(a) First, to pay any taxes or statutory payments when due;
(b) Second, to pay scheduled principal
and interest on all Advances;
(c) Third, to fund or replenish
the DSRA to the DSRA Requirement;
(d) Fourth, to pay approved operating expenses included in the approved
budget;
(e) Fifth, to pay approved capital
expenditures, if any;
(f)
Sixth, any remaining amounts
may be released to Helios for general corporate purposes, provided that (i) no
Default or Event of Default
exists; (ii) Helios
is in compliance with all financial covenants; and (iii) Energea
has provided prior written approval.
9.5
Default Triggers.
The following
shall each constitute an Event of Default under
Section 6.1:
(a) Opening or using any additional collections accounts without
Energea's prior written
consent;
(b) Diverting collections away from the Revenue Controlled Account;
(c) Changing government disbursement instructions or changing
the bank/account without
Energea's consent;
(d) Failing to execute
or maintain controlled account documentation or maker-checker controls
as required; or
(e)
Making payments
outside the Interim
Waterfall priority without
Energea's prior written
consent; provided that a payment processed through the
override mechanism set forth in Section 9.3(d)(iii) in compliance with the
conditions therein shall not constitute a violation of this paragraph (e).
9.6
Transition to Trust.
Upon the Trust Effective Date,
(a)
the Controlled Account structure shall migrate to the Trust
structure as specified in the Trust Agreement;
(b)
the Interim Waterfall shall
be superseded by the waterfall specified in the Trust Agreement; and
(c) this Section 9 shall govern any
inconsistency between the Trust Agreement and this Section 9 until expressly
amended. Notwithstanding the foregoing,
(d) the Banking Attorney Resolution under
Section 9.3(c) shall not be terminated upon the Trust Effective Date and shall
remain registered at the Registro Mercantil in dormant status; and
(e)
if at any time while
Obligations remain outstanding under the Loan Documents the Trust ceases to
function, the Trustee resigns,
is removed, loses its authorization, or ceases to exist, or the Trust Agreement is terminated for any reason, all provisions of this
Section 9 shall automatically reactivate in their entirety without further
action by the Parties, and ▇▇▇▇▇▇ shall re-designate all relevant revenue and
reserve accounts as Controlled Revenue Accounts within five (5) Business Days
of such event. For the avoidance of doubt, all controls under this Section 9
shall terminate upon the full and final satisfaction of all Obligations under
the Loan Documents."
10. Insertion of Section 5.2.13
- Perimeter Covenant
(Anti-Leakage)
A new Section
5.2.13 is hereby
inserted into the Agreement as
follows:
"5.2.13 Perimeter
Covenant (Anti-Leakage).
(a)
Umbrella Requirement. Helios
shall remain the contracting and cash-receiving entity (or the parent
controlling contracting SPVs) for all current and future solar-related
businesses and expansion initiatives, including distributed generation, comunidades energéticas (energy communities), C&I behind-the-meter projects,
and similar models using
the same platform, interconnections, or customer base.
(b)
Permitted SPV Structure.
Projects may be housed in SPVs only if: (i) Helios owns or controls such SPVs;
(ii) the same security, cash sweep, and controlled account
structure applies; (iii) Energea's reporting and step-in rights
extend to such SPVs; and (iv) Energea has provided prior written
consent.
(c)
Negative Covenants. Helios shall not, without Energea's
prior written consent:
(i) form any new entity;
(ii) transfer any material
contract, receivable, or asset outside
the secured perimeter; (iii) incur any new senior debt or permit any Lien (other than Permitted Liens);
(iv) dispose of any material asset; or (v) pay, charge, or permit to be charged
any management fee, service fee, license fee, royalty, or similar payment from
any Project entity or SPV to Helios, any Related Party, or any Affiliate,
except through the controlled waterfall and within the annual budget approved
by Energea; or (vi) change its corporate form (tipo societario), merge,
consolidate, or otherwise undergo any corporate reorganization or transformation that would alter the legal nature, registration, or class of the equity interests subject to the Equity Pledge Agreement,
without Energea's prior written consent and, if such consent is granted, Helios
shall procure the re-execution of the Equity Pledge Agreement by all relevant
pledgors and Energea within fifteen (15) Business Days of the effective date of
such change, at ▇▇▇▇▇▇'s sole cost.
(d)
Quarterly Pipeline Report.
Helios shall include as an appendix to each Quarterly Financial Certificate
delivered under Section 5.2.1(b)
a report listing
all new projects,
SPVs, expansions, and development initiatives, including status,
projected COD, expected revenues, and the account(s) into which revenues will
be deposited.
(e)
Breach and Cure. Any breach
of this Section 5.2.13 shall be subject to a fifteen (15) Business Day cure
period, during which Helios must unwind the non-compliant transaction or bring
the relevant entity/asset into the secured perimeter. Failure to cure shall
constitute an Event of Default."
11. Insertion of Section 4.9 - Fair Enforcement of Equity Pledge
A new Section
4.9 is hereby inserted into the Agreement
as follows:
"4.9 Fair
Enforcement of Security Interests. For the purposes of this Section 4.9, all
security interests under the Loan Documents other than the Equity Pledge
Agreement (Section 4.2), including the First Priority Lien (Section 4.1), the
Asset Pledge Agreement (Section 4.3), the Assignment of Accounts Receivable
(Section 4.4), and the Secured Promissory Note (Section 4.8), shall constitute "First-Tier Security Interests."
The Equity Pledge Agreement shall constitute a
"Second-Tier Security Interest." The following provisions shall govern the enforcement of all security
interests under the Loan Documents, including cash sweeps, DSRA
enforcement, payment acceleration, and enforcement of First-Tier and
Second-Tier Security Interests.
(a)
Enforcement Amount Cap. The
aggregate amount recoverable by Energea through enforcement of all security
interests under the Loan Documents shall be limited to the "Enforcement
Amount," defined as: (i) all outstanding principal of the Advances;
plus (ii) all accrued and unpaid interest; plus (iii) documented enforcement
costs not to exceed USD 500,000.
Penalties, consequential damages,
and speculative losses
shall not be included. Notwithstanding the foregoing, the
Enforcement Amount Cap shall not apply to recovery arising from fraud, willful
misconduct, or intentional diversion of collateral by Helios, in which case
Energea's recovery shall be unlimited.
(b) Independent Valuation. Prior to any appropriation or sale of pledged equity,
Energea shall engage an independent, reputable valuation
firm to determine the fair market value of the equity interests
using market-standard methodologies, including discounted cash
flow analysis and comparable company/transaction multiples. The discount rate,
assumptions, and methodology shall be determined by the valuation firm in
accordance with prevailing industry practice.
(c)
Disposition Process. Energea
shall conduct the disposition of pledged equity through a commercially
reasonable sale process, which may include public auction, private sale, or
competitive bidding. Direct appropriation (dación en pago) shall require the pledgor's
express written consent at the time of enforcement, except where permitted by
applicable law without such consent.
(d) Surplus Return. If the value realized
from the disposition of pledged equity exceeds the Enforcement Amount, Energea
shall return such surplus to the pledgor within thirty (30) days of receipt of
the net sale proceeds, together with a calculation of the Enforcement Amount
and surplus.
(e)
Third-Party Verification. Prior to enforcement of the Equity Pledge, Energea
shall submit the matter to an amigable componedor (friendly arbiter)
appointed through the Cámara de Comercio de Barranquilla for a time-bound
certification (not to exceed fifteen
(15) Business Days)
of: (i) the occurrence of a payment
Default based on objective,
documentary evidence; and (ii) where Energea asserts a non-curable Material
Adverse Effect, certification of such assertion in accordance with Section
6.1A(a)(xiv). This verification shall not (A) constitute a condition precedent
to enforcement of any other remedy,
(B) create a standstill on cash-control or payment remedies, or (C) bar Energea from taking parallel preparatory steps
for enforcement.
(f)
Sequencing of Enforcement. Energea
shall first pursue enforcement through
the First-Tier Security
Interests before enforcing the
Second-Tier Security Interest. The Equity Pledge shall only be enforced after
enforcement proceedings under the Asset Pledge Agreement (Section 4.3) and the
Secured Promissory Note (Section 4.8), both of which carry mérito ejecutivo
(executive merit, i.e., immediate enforceability as a título ejecutivo under Colombian procedural law) under Colombian law, have been terminated. For the purposes
of this Section 4.9(f), "terminated" means the earlier
of:
(A) a mandamiento de pago (judicial payment order) has been issued
and the statutory term for excepciones de mérito (defenses
on the merits) has expired or been resolved with respect to each of the Asset
Pledge Agreement and the Secured Promissory Note; or (B) twenty (20) Business
Days have elapsed since the filing of enforcement proceedings under both the Asset Pledge Agreement and the Secured
Promissory Note. For the avoidance of doubt, this sequencing
requirement shall not prevent Energea from taking preparatory steps (including
filing, registration, or notification) with respect to the Equity Pledge while
enforcement of other security interests is pending."
12. Amendment and Restatement of Section 5.2.1(c)
- Monthly Reports
Section 5.2.1(c) of the Agreement is hereby amended
and restated in its entirety
as follows:
"5.2.1(c) Monthly Reports.
Within fifteen (15) days after
the end of each calendar
month, ▇▇▇▇▇▇ shall
deliver to Energea
a Monthly Report containing:
(i)
Bank statements for all Controlled Accounts;
(ii)
Evidence of Interim Waterfall application (or Trust waterfall, post-Trust Effective Date);
(iii)
DSRA Requirement calculation
(including the prior month's Scheduled Debt Service), actual DSRA balance,
draws during the reporting period (if any), replenishment status, and remaining
replenishment timeline (if applicable);
(iv) Government subsidy receivables aging
report, including evidence of submission/validation and expected payment
timing;
(v)
DSCR and DSCCR calculations with supporting detail;
(vi) Summary of all related-party
transactions (including executive compensation), specifying counterparty,
amount, purpose, and account used;
(vii)
Any material developments, including
new projects, SPVs, defaults, or litigation; and
(viii) A register of all outstanding
supplier, contractor, and service provider obligations exceeding USD 100,000
individually, specifying the counterparty, aggregate amount outstanding, aging,
and whether a Subordination Acknowledgment (Schedule 6-A) has been executed."
13. Amendment of Schedules 1 and 8
Schedules 1 and 8 of the Agreement are hereby amended
and replaced in their entirety
with the revised
versions attached to this
Addendum as Annex 1 and Annex 2, respectively. As of the date of this Addendum, all references to Schedules 1 and 8 in the Agreement shall be deemed to
refer to the updated versions annexed hereto. These amended Schedules shall be
considered an integral part of the Agreement and shall supersede in full the
previous versions.
14. Insertion of Section 5.5 - Equipment
Approval and MTR Compliance
A new Section
5.5 is hereby inserted into the Agreement
as follows:
"5.5 Equipment Approval and Minimum
Technical Requirements (MTRs).
(a)
Adopted MTR Standards.
Helios acknowledges and agrees that Energea has issued a binding list of
Minimum Technical Requirements ("MTRs") applicable to all
Projects developed, owned, or operated by Helios or its Subsidiaries. These
MTRs specify the only permitted equipment types, manufacturers, models,
certifications, and performance standards authorized for use.
(b) Mandatory Compliance. Helios shall
ensure that all equipment installed in any Project-regardless of the source of funds-complies strictly with the MTRs. Any equipment not included in the MTR list shall
be deemed non-compliant.
(c) Request for Exception. If Helios
wishes to use any equipment not listed in the approved MTRs, it must submit a
formal written request to Energea including technical specifications, origin
details, and justification. Energea may approve or reject such request in its
sole discretion.
(d) Condition Precedent. Use of any non-compliant equipment without prior written Energea
approval shall constitute a Material Breach and may trigger
an Event of Default. No EPC Advance
shall be disbursed unless Energea has
confirmed in writing that all equipment for the related
Project is compliant with the current
MTRs or has been expressly approved."
15. Insertion of Section 5.6 - Amortization Adjustment Trigger (Sovereign Downgrade)
A new Section
5.6 is hereby inserted into the Agreement
as follows:
"5.6 Amortization Adjustment Trigger - Sovereign Downgrade.
(a) Trigger Event. In the event that ▇▇▇▇▇'▇ Investors
Service downgrades the Republic of Colombia's long-term
foreign currency issuer rating
to Ba1 or lower, the amortization structure for all future
Advances shall automatically adjust as set forth
in subsection (b).
(b)
Adjusted Structure. Any Advance disbursed
following the downgrade
shall be amortized
as follows: (i) Seventy-five
percent (75%) in U.S. Dollars
at 15% fixed annual interest; and (ii) Twenty-five percent (25%) in Colombian Pesos
at 18% fixed annual interest.
(c) Preservation of Original Terms. All
Advances disbursed prior to the downgrade shall remain subject to the
amortization structure in effect at the time of their disbursement.
(d) Confirmation Notice. Upon the
downgrade, Energea shall issue a written notice to Helios confirming the
effective date of the adjusted amortization structure."
16. Insertion of Section 10 - Dispute
Resolution
A new Section
10 is hereby inserted into the Agreement as follows:
"10. Dispute Resolution. Any dispute, controversy, or claim arising
out of or relating to this Agreement, including its interpretation,
performance, breach, or termination, shall be resolved as follows:
(a)
For disputes where the aggregate amount in controversy is less than USD 5,000,000, such dispute shall be submitted to binding arbitration
administered by the Centro de Arbitraje y Conciliación de la Cámara de Comercio
de Bogotá (Center for Arbitration and Conciliation), in accordance with its
rules in effect at the time of the
dispute. The place of arbitration shall be Bogotá, Colombia. The arbitral
tribunal shall consist of a single arbitrator. The language of the arbitration
shall be Spanish; provided that documentary evidence originally drafted in
English may be submitted without translation.
(b)
For disputes where the
aggregate amount in controversy is equal to or greater than USD 5,000,000, such
dispute shall be submitted
to binding expedited
arbitration administered by the International Chamber of Commerce
(ICC), in accordance with its Expedited
Arbitration Rules. The seat of arbitration shall be Bogotá,
Colombia. The tribunal
shall consist of a sole arbitrator unless otherwise agreed by the Parties. The arbitrator shall
be fluent in English and possess
significant legal experience with cross-border finance
transactions or similar
contracts. The language
of the arbitration shall be English.
Documents in Spanish
shall be accompanied by certified English
translations at the submitting party's expense.
(c)
If the aggregate amount
in controversy cannot
be reasonably determined at the time the notice of arbitration is filed, or if a
counterclaim or set-off causes the aggregate amount to equal or exceed USD
5,000,000, the dispute shall be submitted to or transferred to ICC arbitration
under paragraph (b) above.
For the avoidance of doubt, Section 10 as inserted by this Addendum
shall supersede and replace Section 8.9 of the Agreement in its entirety.
All other provisions of Section 8.9 not inconsistent with this Section
10, including confidentiality, enforcement of awards,
jurisdiction for enforcement, and waiver of objections, are hereby incorporated
by reference."
17. Amendment and Restatement of Section 1.41 - Material
Adverse Effect
Section 1.41 of the Agreement
is hereby amended
and restated in its entirety
as follows:
"1.41 Material Adverse Effect means, with respect to any Person or
any matter, any event, circumstance, change, or effect that individually or in
the aggregate has a material adverse effect on: (i) the business, financial
condition, operations, performance, properties, or prospects of such Person;
(ii) the ability of such Person to perform its obligations under the Loan
Documents; (iii) the legality, validity, binding effect, or enforceability of
any Loan Document or the rights and remedies of the Lender thereunder; or (iv)
the value, enforceability, or priority of the Collateral or the Lender's
security interests therein."
18. Insertion of Section 5.2.14 - Supplier
Subordination
A new Section
5.2.14 is hereby inserted into the Agreement as follows:
5.2.14 Supplier Subordination.
(a) For any supplier, contractor, or
service provider listed on Schedule 6 (Contracts and Obligations) or Schedule 2
(Approved EPC Contractors), or that is otherwise a counterparty to Helios or
any Subsidiary, to whom Helios or any Subsidiary owes, or reasonably expects to owe, an aggregate
outstanding amount in excess of USD 300,000
(a "Material Supplier"), Helios shall procure that such Material
Supplier executes a Supplier Subordination Acknowledgment in the form of
Schedule 6-A attached hereto.
(b) Helios shall not incur or permit any obligation to a Material
Supplier to exceed
USD 300,000 unless
a duly executed Schedule 6-A is already in effect with respect to such
counterparty prior to such threshold being exceeded. For the avoidance of doubt, no purchase order, invoice, or contractual commitment that would cause the aggregate outstanding amount to a single counterparty to exceed USD
300,000 shall be entered into or accepted without a Schedule 6-A in effect.
(c)
Inclusion of any new contractor on Schedule 2 shall be conditional upon delivery of a duly executed Schedule
6-A.
(d)
Helios shall deliver to
Energea, together with each Monthly Report, an updated register of all
counterparties required to have a Schedule 6-A on file, and the aggregate
outstanding amount owed to all counterparties that have not executed a Schedule
6-A.
(e) Aggregate Unsubordinated Exposure.
Helios shall not incur or permit the aggregate outstanding amount owed by
Helios and its Subsidiaries to all suppliers, contractors, and service
providers that have not executed a Schedule 6-A to exceed USD 2,000,000 at any
time. For the avoidance of doubt, no purchase order, invoice, or contractual
commitment shall be entered into or accepted
if doing so would cause
the aggregate unsubordinated exposure to exceed USD 2,000,000."
19. Incorporation of Exhibits and Schedules
The following documents, in the forms
attached to this Addendum, are hereby incorporated into and made part of the Agreement:
(a) Exhibit D - Form of Banking Attorney Resolution (Acta de Nombramiento de
Apoderado Especial Bancario), as referenced in Section 9.3(c).
(b) Schedule 6-A - Form of Supplier
Subordination Acknowledgment (Modelo de Reconocimiento de Subordinacion
de Proveedores), as referenced in Section 5.2.14.
(c) Schedule 4-A - Legacy
Trade Payables (Relacion de Cuentas por Pagar Comerciales Preexistentes), as referenced in Section 3.1.7.
All references in the
Agreement or in this Addendum to "Exhibit D," "Schedule
6-A," or "Schedule 4-A" shall mean the forms attached
hereto, as they may be amended from time to time with the prior written consent
of Energea.
20. Amendment of Section 6.1 and Amendment and Restatement of Section 6.4 - Events
of Default Classification and Cure Periods
Section 6.1 of the Agreement
is hereby supplemented by the insertion
of a new Section 6.1A, and Section
6.4 of the Agreement is
hereby amended and restated in its entirety, as follows:
"6.1A Default
Classification.
For purposes of
this Agreement, Events of Default shall be classified into three categories
based on severity. The classification of an Event of Default shall
determine the applicable cure period under Section 6.4, but shall
not limit, restrict, or otherwise affect the remedies available
to Energea upon the occurrence of an uncured
Event of Default.
For the avoidance of doubt, upon expiration of the applicable cure
period without cure, all remedies under this Agreement and the Loan Documents
shall be available to Energea concurrently and in any order, regardless of the
classification of the underlying Event of Default.
(a) Category 1 - Immediate Events of Default.
The following Events of Default
shall not be subject to any cure period
beyond that expressly provided in the Agreement as of the date hereof
(including, for the avoidance of doubt, the ten
(10) Business
Day cure period for Payment
Defaults under former Section 6.4.3):
(i) Non-payment of any scheduled
principal, interest, fee, or other amount under the Loan Documents after
expiration of the existing ten (10) Business Day cure period;
(ii) Bankruptcy, insolvency, liquidation, dissolution, or cessation of material operations of Helios or any material Subsidiary;
(iii)
Change of Control;
(iv) Any
Loan Document or any material
provision thereof ceasing
to be in full force and effect,
or Helios asserting the invalidity thereof;
(v) Any
Lien created under the Loan Documents ceasing
to be a valid and perfected Lien with the required priority, or Helios asserting in writing
that such Lien is not valid or perfected;
(vi) Unauthorized Collateral Dispositions, being the sale, transfer, or disposal of any material
Collateral without Energea's
prior written consent, except as expressly permitted under the Loan Documents;
(vii)
Issuing instructions to the
Trustee that conflict with the Trust Agreement or this Agreement, including
directing the Trustee to redirect
funds for purposes
not authorized by Energea, or attempting to amend or terminate
the Trust Agreement without Energea's prior written consent;
(viii) Opening or using any additional
collections accounts without Energea's prior written consent (Section 9.5(a));
(ix)
Diverting collections away from the Revenue Controlled Account (Section 9.5(b));
(x) Changing government disbursement instructions or changing the receiving bank or account
without Energea's prior
written consent (Section 9.5(c));
(xi)
Active removal, disabling,
or circumvention of maker-checker controls, the Banking Special Attorney's
authority, or any Controlled Account control mechanism after such controls have
been implemented, without Energea's prior written consent;
(xii)
Making payments outside the
Interim Waterfall or Trust waterfall priority without Energea's prior written
consent (Section 9.5(e)); provided that a payment processed through the
override mechanism set forth in Section 9.3(d)(iii) in compliance with the conditions therein shall not constitute an Event of Default under
this paragraph (xii);
(xiii)
Cross-Default: the occurrence of any event of default
(howsoever defined) under any agreement, instrument, or obligation for borrowed money to which Helios or
any Subsidiary is a party or by which any of its assets is bound, if the
aggregate principal amount of the obligations subject to such default equals or
exceeds USD 2,000,000 (or its equivalent in any other currency); and
(xiv)
The occurrence of a Material
Adverse Effect that is not reasonably capable of cure. Upon Energea raising
such Material Adverse Effect, ▇▇▇▇▇▇ shall have three (3) Business Days to
contest the determination. If ▇▇▇▇▇▇ contests,
the Parties shall refer the matter to an amigable
componedor appointed through
the Cámara de Comercio
de Barranquilla with relevant expertise (financing, legal, or as dictated by
the nature of the alleged Material Adverse Effect). The amigable componedor shall render a binding determination within fifteen (15) Business Days of appointment. During such
determination period, Energea shall retain all protective measures under
Section 6.4(c).
(b) Category 2 - Short-Cure Defaults. The
following Events of Default shall be subject to the cure periods specified
below, commencing upon delivery of written notice from Energea to Helios:
(i)
Failure to replenish the DSRA to the DSRA Requirement
in accordance with the replenishment obligations set forth in Section 5.4.3(f) following receipt of a Government
Payment; provided that, if no Government Payment is received within
sixty (60) Business
Days of a Permitted DSRA Draw that results in a DSRA Shortfall, such failure
shall constitute an Event of Default on the sixtieth (60th) Business Day;
(ii)
Breach of the Perimeter Covenant (Section 5.2.13):
fifteen (15) Business
Days (Section 5.2.13(e));
(iii)
Failure to initially
implement controlled account documentation or maker-checker controls within the
timeframes required under Section 9.3: fifteen (15) Business Days from delivery
of Energea's written notice; provided that no Advance shall be disbursed until
such implementation is confirmed;
(iv) Collateral defaults, including failure
to register or maintain security interests, or any act or omission that
jeopardizes Energea's priority or interest in the Collateral: thirty (30)
Business Days;
(v)
Material breaches of the
Loan Documents not otherwise classified in this Section 6.1A, being breaches
that impair Energea's ability to monitor, enforce, or protect its security
interests, including without limitation failure to maintain insurance policies,
obtain necessary permits, or provide information material to Energea's credit
assessment: fifteen (15) Business Days;
(vi)
Misrepresentation: any
representation or warranty made by Helios in any Loan Document found to be
materially inaccurate when made or deemed made shall be subject to fifteen (15) Business Days' cure to the extent the underlying condition is
curable. If the misrepresentation is not reasonably capable of cure, it shall
be treated as a Category 1 Event of Default.
(vii)
Failure to satisfy any
post-closing obligation under Section 25.3 within the timeline designated by
Energea in writing pursuant
to Section 25.3. The cure period shall be fifteen
(15) Business Days from delivery
of Energea's written notice of
non-compliance. For the avoidance of doubt, the timeline designated by Energea
under Section
25.3 is the
performance deadline, not an additional cure period; the cure period under this
paragraph (vii) commences upon delivery
of Energea's default
notice after expiration of the designated timeline. For the avoidance
of doubt, nothing in this paragraph (vii) shall limit Energea's discretion to
designate timelines of any duration under Section 25.3.
(viii) The occurrence of a Material
Adverse Effect that is reasonably capable of cure:
fifteen (15) Business
Days. If ▇▇▇▇▇▇ fails to cure within such period, the Event of Default
shall be reclassified as a Category 1 Immediate Event of Default.
(ix) MTR
non-compliance on any Project for which an EPC Advance
disbursement request is pending: fifteen
(15) Business Days. No EPC Advance shall be disbursed until Energea
confirms in writing that all equipment for the related Project is compliant
with the current MTRs or has been expressly approved under Section 5.5(c).
(c)
Category 3 - Administrative Defaults. The following
Events of Default
shall be subject to a cure period of thirty
(30) Business
Days, commencing upon delivery of written notice
from Energea to Helios:
(i)
Failure to
deliver any Monthly Report, Financial Certificate, Quarterly Pipeline Report,
or other periodic report within the
timeframes required under this Agreement;
(ii) Failure to deliver
a supplier subordination register or updated
counterparty register under Section 5.2.14(d);
(iii)
Regulatory or environmental violations where such non-compliance could reasonably be expected to result in a Material Adverse Effect, provided
that Helios is diligently pursuing remediation;
(iv) MTR non-compliance on projects for which no EPC Advance
disbursement request is
pending;
(v)
Failure to comply with any other administrative or operational covenant
of this Agreement not otherwise classified in paragraphs (a) or
(b) above.
For the avoidance
of doubt, no cure period under this paragraph (c) shall exceed thirty (30)
Business Days, and no extension, remediation plan approval, or additional grace
shall be required or permitted.
6.4 Cure Periods and Protective Ratchets
(Amended and Restated).
(a) Cure Period Governance. The cure
periods set forth in Section 6.1A shall supersede and replace the cure periods
in former Section 6.4 in their entirety. All references in this Agreement or
any Loan Document to cure periods under Section 6.4 shall be deemed to refer to
the cure periods set forth in Section 6.1A.
(b) Step-Up Interest During
Cure. Upon delivery
of a written default notice
by Energea under
Section 6.1A(b) or
6.1A(c), the
Step-Up Interest Rate under Section 2.4.6 shall accrue automatically from the
date of such notice, regardless of whether
the Event of Default is subsequently cured.
If the Event of Default
is cured within
the applicable cure period,
Step-Up Interest shall
cease to accrue
as of the date of cure but shall remain
payable for the period during which it accrued; provided,
however, that with respect to Category 3 Administrative Defaults only, if
Helios cures the Event of Default within fifteen (15) Business Days of the date
of notice (being fifty percent (50%) of the Category 3 cure period), any
Step-Up Interest accrued during such period shall be waived. The delivery of a
default notice under this Section shall be made in good faith based on a bona fide belief by Energea that an Event of Default
has occurred. If ▇▇▇▇▇▇
disputes the occurrence of the asserted Event of Default, ▇▇▇▇▇▇ may deliver a
written objection to Energea within five (5) Business Days of receipt of the
default notice, setting forth the factual and legal basis for its objection.
Delivery of such objection shall
not toll or suspend the cure period
or the accrual of Step-Up
Interest. However, if the
matter is submitted to arbitration under Section 10 and the arbitral tribunal
determines that no Event of Default had
occurred at the
time of the notice, or that the notice was not delivered in good faith, the
tribunal shall have authority to order the refund of any Step-Up Interest
collected in connection with such notice, together with interest thereon at the
Applicable Rate from the date of collection to the date of refund.
(c) Automatic Protective Measures During Cure. From the date of delivery of a written default notice under Section
6.1A(b) or
6.1A(c) until the earlier of (i) cure or (ii) expiration of the cure period,
the following protective measures shall apply automatically; provided that the exercise or non-exercise of any such measure shall not constitute a waiver of, or
election among, any other right or remedy available to Energea under this
Agreement, the Loan Documents, or Section 25.5:
(i)
Energea shall have no obligation to fund any
Advance;
(ii) Helios shall not declare, make, or
permit any distribution, dividend, or payment to any shareholder, Related
Party, or Affiliate, other than scheduled debt service under this Agreement
and approved operating
expenses within the Interim
Waterfall or Trust waterfall;
(iii)
Helios shall provide Energea
with status updates
on the steps being taken to cure the Event of Default:
(A) for Category 2 Short-Cure Defaults,
weekly from the date of the default
notice; and (B) for Category
3 Administrative Defaults,
upon the occurrence of any material development and in any event not less than
once every fifteen (15)
Business Days; and
(iv) Energea may, in its sole discretion, require Helios to deposit all available cash in excess
of approved operating expenses into the DSRA or
Revenue Controlled Account until the Event of Default is cured.
(d)
Uncured Defaults. Upon
expiration of any cure period under Section 6.1A without cure, the underlying
Event of Default shall be deemed a fully matured Event of Default, and Energea
may exercise any and all rights and remedies available under this Agreement and
the Loan Documents, concurrently or in any order, without any requirement to
exhaust any particular remedy before pursuing another
and without the consent of Helios. For the avoidance
of doubt, the protective
measures set forth in paragraph (c) above are designed for Category 2 and
Category 3 defaults only; Category 1 Events
of Default carry
the right to immediate full remedies upon expiration of any express
cure period set forth in the Agreement, without any
intermediate protective measure framework.
(e)
No Implied Waiver. The
classification of Events of Default under Section 6.1A and the provision of
cure periods shall not be construed as a waiver,
limitation, or modification of any right or remedy
of Energea under this Agreement or any Loan Document.
Energea's decision not to deliver
a default notice
or not to exercise a remedy during
or after a cure period shall not constitute a
waiver of any subsequent or continuing Event of Default.
(f)
Relationship to Section
25.5. For the avoidance of doubt, nothing in this Section 6.1A or Section 6.4
shall modify, limit, or be construed as inconsistent with Section 25.5 of this
Addendum. All provisions regarding no novation, no standstill, no forbearance,
and concurrent remedies preservation as set forth in Section 25.5 remain in
full force and effect.
(g)
Trustee-▇▇▇▇▇ ▇▇▇▇▇▇▇. If
Helios demonstrates to Energea's reasonable satisfaction that a Payment Default
under Section 6.1A(a)(i) resulted exclusively from a delay attributable to the
Trustee's administrative processing or bank clearing on a Trust-administered account, and that sufficient funds were on deposit in the relevant
Trust account on or
before the applicable payment date to satisfy
the obligation in full, then the cure period for such Payment
Default shall be tolled for a
period not exceeding five (5) Business Days from the date on which ▇▇▇▇▇▇
delivers to Energea documentary evidence of such Trustee delay and available
funds. This tolling provision shall not apply during the Interim Period (as
defined in Section 9.1), shall not apply to any shortfall attributable to
insufficient funds, and shall not be available more than twice in any twelve
(12)-month period.
(h)
Checker Non-Response Safe
Harbor. No Event of Default arising from a payment delay or covenant
non-performance shall be deemed to have occurred to the extent that Helios
demonstrates to Energea's reasonable satisfaction that such delay or non-performance resulted directly and exclusively from the failure
of the Banking Special
Attorney to act on a timely and waterfall-compliant payment instruction within
the timeframes set forth in Section 9.3(d). During any period of demonstrated checker non-response, and subject to a maximum tolling
period of ten (10) Business Days per occurrence:
(i) cure
periods for Helios payment, distribution, and funding obligations that required the checker's approval
and were directly affected
by such non-response shall be tolled
(but cure periods
for obligations not requiring checker approval, including reporting,
perimeter, and insurance covenants, shall not be tolled);
(ii) the
Step-Up Interest Rate shall not accrue on amounts that Helios was unable to pay solely due to the checker non-response; and
(iii) Helios shall not be deemed in breach
of any distribution, payment, or funding obligation to the extent that
performance required the checker's approval. This safe harbor shall not
apply if (A) the payment instruction was
inconsistent with the Interim
Waterfall or exceeded
the approved budget,
(B) a Default notice had been delivered to Helios prior to submission of the instruction, or (C) Helios failed to follow the escalation procedure
set forth in Section 9.3(d). For the avoidance of doubt, tolling
under this paragraph
(h) shall terminate
upon execution of the
override mechanism under Section 9.3(d)(iii), and shall in no event exceed ten (10) Business
Days per occurrence."
21. Insertion of Section 5.7 - Energea
Operational Representative
A new Section 5.7 is hereby inserted into the Agreement
as follows:
"5.7 Energea Operational Representative.
(a)
Appointment. Energea shall,
within thirty (30) days of execution of this Addendum, designate a natural
person resident in Colombia or an entity with offices in Colombia (the "Energea
Operational Representative") to serve as its local operational liaison
for purposes of this Agreement.
(b)
Scope. The Energea
Operational Representative shall be authorized to: (i) receive notices and
communications delivered by Helios under this Agreement; (ii) execute routine
operational documents, bank instructions, and administrative filings
on behalf of Energea to the extent specifically authorized by Energea in writing; (iii) coordinate
with Colombian banks, regulatory entities, and service providers in connection
with the Controlled Accounts, Trust establishment, and other operational
matters under this Agreement; and (iv) attend periodic operational review
meetings with Helios management. For the avoidance of doubt, the Energea Operational Representative shall not have
authority to bind Energea to any new obligation, waive any right or remedy, or
amend any Loan Document.
(c) Replacement. Energea may replace
the Energea Operational Representative at any time by delivering written
notice to ▇▇▇▇▇▇ identifying the replacement, which notice shall be
effective five (5) Business Days after delivery.
(d)
Deemed Receipt. If at any
time Energea has not designated an Energea Operational Representative, or the
designated representative is not available
in Colombia, any notice or communication delivered
by Helios to Energea's
registered address (or the most recent address notified under Section 8.3 of
the Agreement) shall be deemed received by Energea on the third (3rd) Business
Day following dispatch by internationally recognized courier or by certified email."
22. Insertion of Section 3.1.7 - Legacy
Trade Payables
A new Section 3.1.7 is hereby inserted into the Agreement
as follows:
"3.1.7 Legacy Trade Payables.
(a)
Identification and Schedule. Helios acknowledges that, as of the date of this Addendum, it owes certain
outstanding trade payables to vendors, contractors, and service
providers that arose prior to the date of this Addendum and that are not
classified as Indebtedness under Section 1.73 for purposes of the mandatory
repayment or subordination obligation under Section
3.1.6 (collectively, "Legacy
Trade Payables"). All Legacy Trade Payables shall be identified on Schedule
4-A - Legacy Trade Payables, which shall set forth:
(i) the name of each creditor;
(ii) the aggregate amount
outstanding as of the date of this Addendum;
(iii) the nature of the underlying obligation;
(iv) the original due date or invoice date and current
aging (in 30-day
brackets), and
(v) whether such creditor
has executed a Subordination Acknowledgment.
Schedule 4-A shall be delivered by Helios to Energea within ten (10) Business Days of execution
of this Addendum.
(b)
Paydown Obligation. ▇▇▇▇▇▇
shall extinguish all Legacy Trade Payables in full within twenty-four (24)
months of the date of this Addendum (the "Legacy Paydown Period").
Legacy Trade Payable payments shall be included as a separate line item in the
Approved Budget and paid through the waterfall tier applicable to approved
operating expenses (Section 9.4(d) during the Interim Period, or the equivalent
Trust waterfall tier thereafter).
(c)
Direct Payment. All payments
to Legacy Trade Payable creditors shall be made directly from the Revenue
Controlled Account (or, following the Trust Effective Date, the applicable
Trust account) to the creditor, and Helios shall not receive, hold, or intermediate such funds. Each payment instruction shall identify the creditor, invoice or
obligation reference, and amount, and shall be subject to the maker-checker controls applicable to the Revenue Controlled Account under Section
9.3.
(d)
Subordination as Condition
Precedent. Prior to the disbursement of the First Advance, ▇▇▇▇▇▇ shall deliver
to Energea duly executed
subordination acknowledgments, in a form reasonably acceptable to Energea, from each Legacy Trade Payable creditor identified
on Schedule 4-A that has agreed to subordinate (each, a "Subordinating
Vendor"), confirming that such creditor's claims are subordinate to
the Obligations under this Agreement and the Loan Documents. Delivery
of all such subordination acknowledgments shall be a Condition Precedent
to the First Advance.
(e)
Paydown Sequencing. Within
the Legacy Paydown Period, Helios shall allocate Legacy Trade Payable payments
first to creditors that have not executed a subordination acknowledgment
("Non-Subordinating Vendors") before any payments to
Subordinating Vendors, in order to mitigate the risk that such obligations
acquire mérito ejecutivo under Colombian law. The pace of paydown shall be determined by available cash flow through
the applicable waterfall
tier, subject to maintenance of the DSCR and other financial covenants
under this Agreement. For the avoidance of doubt, Legacy Trade Payables shall
not be repaid from the proceeds of the First Advance; repayment of Legacy Trade
Payables shall be funded exclusively through ongoing project revenues applied
in accordance with the Interim Waterfall (Section 9.4) or, following the Trust
Effective Date, the Trust waterfall.
(f)
Restrictions. During the
Legacy Paydown Period: (i) Helios shall not incur any new trade payable to a
creditor listed on Schedule
4-A that would
increase the aggregate amount owed to such creditor
above the amount
set forth on Schedule 4-A, unless such new obligation arises in the ordinary course of business
under an existing
contract and does not exceed USD 50,000 individually;
and (ii) Helios shall not settle, restructure, or renegotiate any Legacy Trade
Payable on terms less favorable
to Energea (including extending maturity beyond the Legacy Paydown Period)
without Energea's prior written consent.
(g)
Reporting. Helios shall include
in each Monthly Report delivered
under Section 5.2.1(c):
(i) the outstanding balance of each Legacy
Trade Payable; (ii) payments made during the reporting period,
with proof of payment (including bank transfer confirmation); (iii) subordination status of each
creditor; and (iv) expected extinguishment timeline, until all Legacy Trade
Payables are fully extinguished.
(h) Default. Failure to extinguish all
Legacy Trade Payables within the Legacy Paydown Period shall constitute an
Event of Default, classified as a Category 2 Short-Cure
Default under Section 6.1A(b), with a cure period of fifteen
(15) Business Days from delivery
of Energea's written
notice."
23. Insertion of Section 3.1.8
- Advance Request
Response and Right of First
Refusal
A new Section
3.1.8 is hereby inserted into the Agreement
as follows:
"3.1.8 Advance
Request Response and Right of First Refusal.
(a) Response Periods. Upon receipt of a
duly completed Advance Request from Helios under Section 2.2.1, Energea shall
respond within: (i) fifteen (15) Business Days for Working Capital Advances;
and (ii) ninety (90) Business Days for EPC Advances.
(b)
Right of First Refusal. If
Energea declines an Advance Request or fails to respond within the applicable
period under paragraph (a), the Right of First Refusal under Section 5.2.12 of
the Agreement (Applicable Debt Financing) shall apply. For the avoidance of doubt, Section
5.2.12 provides ▇▇▇▇▇▇ with a structured exit to third-party financing, subject to the timelines and conditions set forth
therein.
(c)
Subordination of Third-Party
Financing. Any Indebtedness incurred by Helios through third-party financing
following the exercise of the Right of First Refusal under Section 5.2.12 shall
be fully subordinated to the obligations under this Agreement and the Loan
Documents. Such subordination shall be documented in form and substance
satisfactory to Energea prior to the disbursement of any third-party funds.
(d) Standstill During Disputes. During any period in which a Material
Adverse Effect determination or Event of Default
is pending under Sections 6.1A or 6.4, Helios shall not (i) incur any new
Indebtedness, (ii) make any distribution, dividend, or payment to any
shareholder, Related Party, or Affiliate (other than scheduled operating
expenses in the approved budget), (iii) dispose of, encumber, or transfer any
material asset or Collateral, or (iv) take any action that would materially
alter the financial position or asset base of Helios or any Subsidiary."
24. Amendment of Section 2.7 - Voluntary
Prepayment
Section 2.7 of the Agreement is hereby amended
and restated in its entirety
as follows:
"2.7 Voluntary Prepayment. Helios may prepay any outstanding Advance,
in whole or in part, at any time without
premium, penalty, or minimum or maximum holding
period, upon not less than thirty (30) days' prior written notice to Energea.
Any voluntary prepayment shall be accompanied by payment of all accrued
and unpaid interest
on the amount prepaid through the date of prepayment. Voluntary prepayments shall be applied
in inverse order of maturity
unless otherwise agreed by the Parties in writing. For the avoidance
of doubt, no breakage costs shall apply to voluntary
prepayments except to the extent of documented hedging breakage
costs, if any."
25. Effectiveness and Waiver of Certain Conditions Precedent
25.1 Effectiveness. Notwithstanding
anything to the contrary in Section 3.1 of the Agreement, the Parties agree
that the Agreement, as amended by this Addendum, shall be deemed fully
effective as of the date of execution of this Addendum. The Agreement and this
Addendum shall be read and construed as a single instrument.
25.2
Waiver for Effectiveness Only. Any Conditions Precedent listed in Section 3.1 of the Agreement that remain unfulfilled as of the date of this
Addendum are hereby waived for purposes of effectiveness only. Such waiver
shall not impair the validity, enforceability, or binding nature of the
Agreement or any Loan Document. For the avoidance of doubt, (i) such Conditions
Precedent are conditions to further Advances only and shall not affect the
enforceability of any obligation, representation, warranty, or remedy
under the Agreement or any Loan Document; and (ii) no failure to satisfy any Condition
Precedent prior to the date of this Addendum shall, in and of itself,
constitute an Event of Default, provided that all such Conditions Precedent
shall remain in full force as post-closing obligations subject to the timelines
designated by Energea under Section 25.3.
25.3 Post-Closing Obligations. Such
unfulfilled Conditions Precedent, including without limitation those set forth
below, shall remain in full force as post-closing obligations of Helios and
must be fulfilled no later than the following deadlines:
(a) execution of the Trust Agreement and appointment of
the Trustee - sixty (60) Business Days from the date of this Addendum; (b) registration or implementation of applicable corporate authorizations - fifteen
(15) Business Days from the date
of this Addendum; (c) establishment of the Trust-administered accounts - forty-five (45) Business Days from the date
of this Addendum; and (d) re-execution of the Equity
Pledge Agreement - fifteen (15) Business Days from the date of this
Addendum (of which (1) notarized execution shall occur no later than ten (10)
Business Days from the date of this Addendum,
and (2) registration in the Registro de Garantías Mobiliarias (Colombian Registry of Movable Guarantees) shall occur no later than five (5) Business Days after such
notarized execution). Notwithstanding the foregoing, with respect to paragraphs
(a) and (c) only, if Helios demonstrates to Energea's reasonable satisfaction
that the delay is attributable to administrative processing by the fiduciary
entity, regulatory approval timelines, or other factors outside the reasonable
control of both Helios and Energea (an "External Trust
Delay"), then the applicable deadline
shall be tolled
for the duration of such External Trust Delay,
subject to the following conditions:
(A) Helios delivers written notice to
Energea within five
(5) Business Days of becoming aware of such delay,
together with documentary evidence of the external cause; (B) Helios
demonstrates that it is diligently pursuing completion of the affected
obligation; (C) tolling shall not exceed sixty (60) additional Business Days
beyond the original deadline; and (D) tolling shall terminate immediately upon
the earlier of the resolution of the External Trust Delay or expiration of the
sixty (60) Business Day tolling cap. For the avoidance of doubt, this tolling
provision does not apply to paragraphs (b) or (d), which remain subject to
their respective deadlines without extension. Failure to satisfy any
post-closing obligation within the applicable deadline (as tolled, if
applicable) shall constitute an Event of Default under Section 6.1.
25.4 Interim Period Governance. During the
Interim Period (as defined in Section 9.1), all cash management, controlled
account, and waterfall obligations shall
be governed by Section 9 of this Addendum. The provisions of Section 9 shall apply immediately upon execution and
shall not be conditioned on the fulfillment of any outstanding Condition
Precedent.
25.5
No Novation or Standstill;
Concurrent Remedies Preserved. For the avoidance of doubt, (a) this Addendum
does not constitute a novation of the Agreement or any Loan Document; (b) all
existing Obligations of Helios under the Agreement remain in full force and effect
except as expressly
amended herein; (c) no provision of this Addendum
shall be construed as creating a standstill, forbearance, or suspension of any
right or remedy of Energea under the Loan Documents; and (d) Energea retains
the right at all times
to exercise any and all rights and remedies available under this Agreement and the Loan Documents concurrently or in any order,
without any requirement to exhaust any particular remedy
before pursuing another, and without requiring the consent of Helios as to the selection, sequencing, or timing of any enforcement action. Nothing in Section 4.9 or elsewhere in this
Addendum shall be construed as establishing a mandatory enforcement sequence or
as conditioning any remedy upon the prior exhaustion of any other remedy.
CLOSING REMARKS
Except as expressly
modified herein, all other terms, conditions, and obligations under the
Agreement shall remain in full force and effect.
Counterparts; Electronic Execution. This Addendum may
be executed in any number of counterparts, each of which shall be deemed an
original and all of which together shall constitute one and the same
instrument. Delivery of an executed counterpart by electronic means, including
by portable document format (.pdf), electronic signature platform (including
Dropbox Sign), or other electronic transmission, shall be equally effective as
delivery of a manually executed counterpart. For all purposes under Colombian law
requiring notarization or registration (including, without limitation, the Registro
Único de Garantías Mobiliarias), the Parties shall, upon request by either
Party, execute and deliver wet-ink or notarized counterparts of this Addendum, in which case such counterparts shall be deemed
effective as of the Effective Date regardless of
the date of physical execution or notarization.
IN WITNESS WHEREOF, the Parties have
caused this Addendum to be executed by their duly authorized representatives as
of the Effective Date.
SIGNATURES
 |
For Energea Portfolio 5 LATAM LP,
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Title: Managing
Partner
For Helios
Energía S.A.S. E.S.P.,
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Name:
▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: Legal Representative
For Helios
Energía S.A.S. E.S.P.,
Name: ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Operational Assigned
Manager
ANNEXES, EXHIBITS, AND SCHEDULES
The following documents are attached
for reference only and form part of the Agreement pursuant to Section 19
(Incorporation of Exhibits and Schedules) of Addendum No. 01.
No signature is required
on the pages that follow.
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ANNEX 1
AMENDED SCHEDULE 1 - ADVANCE
REQUEST FORM
1. Advance Request
Details
2. Supporting Documentation Checklist
(Replaces Schedule 1 of the Agreement pursuant
to Section 13 of Addendum
No. 01)
This Advance
Request Form is submitted pursuant to the Loan and Security Agreement, dated as
of January 22, 2025 (the "Agreement"), as amended by Addendum No. 01 (the "Addendum"), by and between
Energea Portfolio 5 LATAM
LP ("Energea") and Helios Energía S.A.S. E.S.P. ("Helios"). All
capitalized terms used but not defined in this Advance Request Form shall have
the meanings ascribed to them in the Agreement and the Addendum.
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Date of Request:
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Type of Advance:
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(Select one:)
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EPC Advance
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Working Capital Advance
(First)
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Working Capital Advance
(Subsequent)
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Requested Amount (USD):
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Date Required:
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Purpose of Advance:
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(Include all required
attachments for the requested Advance
type as per Section 2.1 of the Agreement and the
Addendum.)
For First Working
Capital Advance, attach:
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Evidence of all Corporate Debt
(Schedule 4), including payoff instructions and account details.
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A Financial Certificate.
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Certification of compliance with Anti-Corruption Laws
and Anti-Money Laundering Laws.
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Evidence of DSRA
initial funding or funding plan
(Section 5.4.3(c) of the Addendum).
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Evidence of Controlled Account designation and maker-checker activation (Section 9.2-9.3).
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Schedule 4-A (Legacy Trade Payables), delivered per Section 3.1.7(a) of the Addendum.
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Subordination acknowledgments from all Subordinating Vendors identified on Schedule 4-A, per Section 3.1.7(d) of the Addendum.
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For Subsequent Working Capital Advances, attach:
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Documentation confirming the
intended use of funds.
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A Financial Certificate.
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Certification of compliance with Anti-Corruption Laws
and Anti-Money Laundering Laws.
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Current DSRA balance
confirmation and compliance with DSRA Requirement (Section 5.4.3).
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Current supplier subordination register (Section 5.2.14(d)) and confirmation that aggregate unsubordinated exposure does not exceed
USD 2,000,000.
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Confirmation that no Default or Event of Default exists
under Section 9.5.
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For First EPC Advance, attach:
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All Project documents, including EPC agreements, project budgets, supplier invoices, construction schedules,
and payment schedules.
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Certification of compliance with Anti-Corruption Laws
and Anti-Money Laundering Laws.
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A Financial Certificate.
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Written confirmation from Energea that
all equipment for
the related Project complies with the
current MTRs or has been
expressly approved (Section 5.5(d) of the Addendum).
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Evidence of DSRA compliance (balance ≥ DSRA Requirement).
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Evidence that
all required Supplier Subordination Acknowledgments (Schedule 6-A) are in effect for Material Suppliers (Section
5.2.14).
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For Subsequent EPC Advances, additionally attach:
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Copies of the Cartas
de Adherencia for
the subscribers associated with the projects to be financed by the requested
Advance.
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Summary of project construction status, including details of completed projects and confirmation of SSPD
registration for projects that have reached operational status.
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MTR compliance confirmation for the specific Project (Section 5.5(d)).
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Perimeter Covenant compliance certification (Section 5.2.13): confirmation that the Project is within the secured perimeter and that no new
entity, contract, or asset transfer has occurred outside the perimeter
without Energea's consent.
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Updated Quarterly Pipeline Report if due (Section 5.2.13(d)).
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By submitting this Advance Request
Form, Helios certifies
the following:
1. The representations and warranties set forth in the Agreement and the Addendum
remain true and correct as of the date of this request.
2. No Default or Event of Default, or
event that with notice or lapse of time would constitute an Event of Default, has occurred and is continuing, including under Section
9.5 of the Addendum (Controlled Account
defaults).
3. The requested Advance
will be used solely for the purposes
authorized under the Agreement and the
Addendum and in compliance with applicable laws.
4. The DSRA balance
equals or exceeds
the DSRA Requirement as of the date hereof
(Section 5.4.3).
5. Helios is in compliance with the Perimeter Covenant (Section 5.2.13),
including the management fee prohibition under Section 5.2.13(c)(v).
6. All Material Suppliers (as defined in Section 5.2.14) have executed a
Supplier Subordination Acknowledgment (Schedule 6-A),
and the aggregate unsubordinated exposure does not exceed
USD 2,000,000.
7. The maker-checker controls
on all Controlled Accounts are operational and no unauthorized disbursement or
account change has occurred.
Please disburse the requested Advance
to the following account:
During the Interim
Period (before Trust Effective
Date):
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Account Name:
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Bank Name:
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Account Number:
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SWIFT/BIC Code:
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Account Type:
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(Note: This account
must be the Revenue Controlled Account designated under Section 9.2 of the Addendum or the Interim Reserve Account designated under
Section 9.1(j) of the Addendum, subject to maker-checker controls under Section
9.3.)
After Trust Effective Date:
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Account Name:
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Trust/Fiducia Name:
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Bank Name:
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Account Number:
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SWIFT/BIC Code:
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(Note: This account
must be the Trust-administered account
designated under the Trust Agreement.)
Helios Energía S.A.S. E.S.P.
By: Name:
Title: Date:
Energea Portfolio 5 LATAM LP
Received:
Approved / Rejected:
By: Name:
Title: Date:
Comments / Conditions:
ANNEX 2
AMENDED SCHEDULE 8 - PROJECT
INFORMATION AND REPORTING
A.1 Controlled Account
and Waterfall Reporting
A.4 Energy System Metrics
(Replaces Schedule 8 of the Agreement pursuant
to Section 13 of Addendum
No. 01)
This Schedule outlines the
project-related information required under the Loan and Security Agreement,
dated as of January 22, 2025 (the "Agreement"), as amended by Addendum No. 01
(the "Addendum"). Helios shall provide periodic reports to Energea
containing the metrics
and details described below for all active, planned,
and completed Projects,
including Government Projects, Energea Projects, and Commercial and Distributed
Projects (as defined in Section 1.49 of the Agreement, as amended).
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PART A - MONTHLY REPORT
(Due within fifteen
(15) days after the end of each calendar month,
per Section 5.2.1(c))
A.1.1 Bank statements for all Controlled Accounts (Revenue Controlled Account, DSRA Controlled Account, and any
Operating Controlled Account), including opening balance, all transactions, and
closing balance.
A.1.2 Evidence of Interim
Waterfall application (Section
9.4) or Trust
waterfall application (post-Trust Effective Date), showing each priority tier, amounts applied,
and residual released to Helios.
A.1.3
DSRA Requirement calculation
(being three (3) times the Scheduled Debt Service for the immediately preceding calendar
month, or four (4) times
if a Reserve Step-Up is in effect
under Section 5.4.3(a)(ii)), actual DSRA balance, any draws during the period, replenishment
status, and remaining replenishment timeline (if
applicable). If a DSRA Shortfall exists,
include evidence of government receipt
delay extension request
(if applicable, per Section 5.4.3(f)).
A.2 Revenue and Subsidy Reporting
A.2.1
Total revenue per Project
category (Government Projects, Energea Projects, Commercial and Distributed
Projects), segmented into:
(a) Government subsidies received during the period; (b) Direct subscriber/customer
payments collected; (c) C&I contract
revenues; (d) Community
energy and virtual
self-generation revenues.
A.2.2 Cumulative government subsidies disbursed to date.
A.2.3
Government subsidy receivables aging
report, including evidence
of submission/validation and expected
payment timing. If any receivable is overdue by more than ninety (90) days, include
evidence of legal
recourse
initiated (Derecho
de Peticion or Tutela).
A.2.4 Average revenue per subscriber (ARPS),
calculated by Project
category.
A.3 Subscriber and Deployment Metrics
A.3.1 Total number of existing subscribers/customers under operation, segmented
by Project category.
A.3.2 New subscribers/customers added during the reporting period.
A.3.3 Geographic distribution, segmented by region and municipality.
A.4.1 Aggregate capacity installed
(kW) across all subscriber/customer systems,
segmented by Project
category.
A.4.2 Average daily energy
consumption per subscriber (kWh).
A.4.3 Percentage of subscribers/customers receiving uninterrupted service (% availability).
A.5.1 DSCR and DSCCR calculations with supporting detail.
A.5.2 Summary of all related-party transactions during the period (including executive
compensation), specifying
counterparty, amount, purpose, and account used (per Section 5.2.1(c)(vi)).
A.5.3 Confirmation that no management fee, service fee, license fee, royalty, or similar payment
has been charged outside the controlled waterfall
and approved budget (per Section 5.2.13(c)(v)).
A.6.1 A register of all outstanding supplier, contractor,
and service provider obligations exceeding USD 100,000 individually, specifying: (a) counterparty name and NIT; (b) aggregate amount outstanding; (c) aging; (d) whether a Subordination Acknowledgment (Schedule
6-A) has been executed (per Section 5.2.1(c)(viii)).
A.6.2 Aggregate unsubordinated exposure
(total outstanding to counterparties without
a Schedule 6-A in effect), with confirmation that the
aggregate does not exceed USD 2,000,000 (per Section 5.2.14(e)).
A.7 Material Developments
A.7.1
Any material
developments, including new Projects, SPVs,
defaults, litigation, regulatory actions, or changes to government subsidy programs.
A.7.2 Any changes to Controlled Account
banks, signatories, or maker-checker configurations.
A.7.3 Status of Banking
Attorney Resolution registration and any dormancy/reactivation events (per Section
9.6).
A.8.1 Total capital expenditures (CAPEX) by category:
(a) equipment acquisition; (b) installation costs.
A.8.2 Total operational expenditures (OPEX) by category:
(a) maintenance costs; (b) administrative costs.
A.8.3 Average cost per subscriber/customer installation, segmented by Project
category.
A.9 Legacy Trade Payables
A.9.1 Outstanding balance of each Legacy Trade Payable
listed on Schedule
4-A.
A.9.2 Payments made during the reporting
period, with proof of payment
(including bank transfer
confirmation).
A.9.3 Subordination status of each creditor
(Subordinating Vendor or Non-Subordinating Vendor,
per Section 3.1.7(d) and (e)).
A.9.4 Expected extinguishment timeline, until all Legacy
Trade Payables are fully extinguished (per Section 3.1.7(g)).
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PART B - QUARTERLY REPORT
B.1 Perimeter Covenant
Pipeline Report (Section
5.2.13(d))
B.2 Operational Status
B.3 Growth and Efficiency Metrics
B.4 Project-Level Financial Metrics
B.5 Operations and Maintenance (O&M) Compliance
B.6 MTR Compliance Summary (Section 5.5)
(Due within fifteen
(15) days after the end of each calendar quarter)
B.1.1 A report listing
all new projects, SPVs, expansions, and development initiatives during the quarter,
including:
(a) Project name and type (Government, Energea, or
Commercial and Distributed); (b) status (development, construction, operational); (c) projected COD; (d) expected
annual revenues; (e) the account(s) into which revenues
will be deposited; (f) whether the Project is within the secured perimeter; (g) Energea consent
status (approved, pending,
not required).
B.2.1 Active and operational systems (number and percentage), segmented by Project category.
B.2.2 Systems under construction (number and percentage).
B.2.3
Planned systems,
segmented by: (a) number of subscribers/customers; (b) estimated completion timelines; (c)
Project category.
B.3.1 Subscriber/customer
growth rate (quarterly and year-over-year).
B.3.2 Replacement rate for aging or faulty systems
(% of systems replaced/upgraded during
reporting period).
B.3.3 Average resolution time for service
disruptions (days per reported issue).
B.4.1 Development return (portfolio-level, aggregated), segmented by Project category.
B.4.2 Internal rate of return (IRR) for the portfolio at financial close,
segmented by Project
category.
B.5.1 Percentage of systems
inspected and maintained per schedule.
B.5.2 Percentage of reported
issues resolved within
SLA timelines.
B.5.3 Data from monitoring systems, including: (a) power generation (kWh); (b) system
downtime (hours).
B.6.1 Confirmation that all equipment installed during the quarter
complies with the current MTRs.
B.6.2 List of any exception requests
submitted to Energea,
their status (approved/rejected/pending), and the
equipment in question.
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REPORTING FORMAT AND SUBMISSION
Frequency. Part
A (Monthly Report) shall be submitted within fifteen (15) days after the end of
each calendar month. Part B (Quarterly Report)
shall be submitted
within fifteen (15) days after the end of each calendar quarter.
The quarterly submission shall include Part A for the final
month of the quarter and Part B.
Format. All
reports shall be submitted in a format agreed upon by Energea and Helios, which
may include electronic spreadsheets, presentations, or other data visualization tools.
Helios shall ensure
the accuracy and timeliness of all submitted
information.
Certification. Each Monthly Report
and Quarterly Report
shall be certified by the Operational Assigned Manager as
true, correct, and complete in all material respects as of the reporting date.
The undersigned, being
duly authorized representatives of the Parties,
agree to the terms and contents of this
Schedule:
For Helios Energía S.A.S. E.S.P.:
By: Name:
Title: Date:
For Energea Portfolio 5 LATAM LP:
By: Name:
Title: Date:
[EN PAPEL MEMBRETE
DE HELIOS ENERGÍA
S.A.S. E.S.P.]
FORM OF BANKING ATTORNEY RESOLUTION
(Modelo de Acta de Nombramiento de Apoderado Especial Bancario)
[NOTA: Confirmar
estructura accionaria de Helios. Si accionista único, cambiar 'Asamblea de Accionistas' por 'Decisiones del Accionista Único'
en todo el documento.]
ACTA No. [•]
DECISIONES DE LA ASAMBLEA DE ACCIONISTAS
HELIOS ENERGÍA S.A.S. E.S.P. - NIT [•]
Fecha: [•] • Lugar: [•]
1. Estructura societaria. Helios Energía
S.A.S. E.S.P. (la "Sociedad" o "Helios") es una sociedad
por acciones simplificada de servicios públicos
constituida bajo las leyes de la República
de Colombia. Los accionistas de la
Sociedad, debidamente representados, ejercen las atribuciones del máximo órgano social y adoptan sus determinaciones mediante actas
asentadas en el libro de actas de la Sociedad.
2. Representación. Comparece(n) [•], identificado(a) con [•], en calidad de [•] de Helios, con fundamento en el
Certificado de Existencia y Representación Legal expedido por la Cámara de
Comercio de [•] en fecha [•]
(vigencia ≤ 30 ▇▇▇▇),
con facultades vigentes
y suficientes.
3. Instalación. Siendo las [•] horas del día [•], la Asamblea
instala la sesión
y procede a resolver el orden del
día.
1. Instalación.
2. Nombramiento de Apoderado
Especial Bancario (Banking
Special Attorney).
3. Instrucciones de inscripción, formalización y autorizaciones operativas.
4. Lectura y aprobación del acta.
(i) Que la Sociedad
es parte del Loan and Security Agreement
de fecha 22 de enero de 2025 (el "Acuerdo"
o "LSA"), según enmendado por el Addendum No. 01 (el "Addendum" y,
conjuntamente con el Acuerdo, el
"Financiamiento"), celebrado con Energea Portfolio 5 LATAM LP ("Energea" o el "Acreedor").
(ii) Que el Addendum, en su Sección 9, exige la
implementación de Cuentas Controladas - específicamente la Cuenta de Recaudo
Controlada (Revenue Controlled Account) y la Cuenta de Reserva Interina
(Interim Reserve Account, según la Sección 9.1(j) del Addendum)
(o, tras la Trust Effective
Date, la cuenta de reserva
administrada por el Trust que contiene la DSRA) (en adelante, la
"Cuenta DSRA") - administradas bajo un esquema maker-
checker conforme
al Acuerdo y al Addendum.
(iii) Que la Sección 9.3(c) del Addendum requiere que Helios adopte un
mecanismo de Apoderado Especial Bancario
(Banking Special Attorney) mediante resolución corporativa, en forma y sustancia satisfactorias para
Energea, para la operación
bancaria de las Cuentas Controladas.
(iv) Que este mecanismo
opera exclusivamente respecto
de la Cuenta de Recaudo
Controlada y la Cuenta DSRA.
Las cuentas operativas de Helios (financiadas con recursos liberados conforme al waterfall) no están sujetas
a este poder y permanecen
bajo la gestión autónoma de Helios.
IV. Resoluciones
PRIMERA - Nombramiento del Apoderado Especial Bancario.
La Asamblea nombra
como Apoderado Especial
Bancario a [•], [• nacionalidad], identificado(a) con [•], propuesto
por Energea bajo el Financiamiento, con facultades limitadas y exclusivas para
actuar únicamente respecto de las Cuentas Controladas definidas en el Acuerdo y
el Addendum (la Cuenta de Recaudo Controlada y la Cuenta DSRA), sin que ello implique representación legal general de la
Sociedad.
SEGUNDA - Alcance de facultades (estrictamente bancarias).
Dentro del esquema
maker-checker, el apoderado podrá, respecto de la Cuenta
de Recaudo Controlada y la Cuenta DSRA, y solo para su operación
bancaria:
(a) Aprobar y ejecutar pagos, transferencias y débitos
previamente preparados por Tesorería de Helios, exclusivamente conforme
al Interim Waterfall
(Sección 9.4 del Addendum) o al waterfall del Trust Agreement,
según aplique;
(b) Autorizar altas, bajas
y cambios de firmantes, beneficiarios, perfiles, límites y parámetros de e-banking;
(c) Impartir instrucciones a bancos depositarios (incluidas cartas operativas, cut-off times, confirmaciones y formatos propios
del banco) para la ejecución del waterfall y ▇▇▇▇▇ disposiciones del
Acuerdo y el Addendum;
(d) Ordenar transferencias entre
Cuentas Controladas y, cuando corresponda conforme al Acuerdo,
giros a la cuenta
de Energea o cuentas de servicio de la deuda;
(e) Suscribir formularios, contratos operativos bancarios,
comunicaciones y actualizaciones estrictamente relacionadas con la apertura, operación, mantenimiento y cierre de las Cuentas
Controladas, incluyendo KYC/AML
requeridos por las entidades
financieras.
TERCERA - Exclusiones y límites.
El apoderado no tendrá: (i)
representación legal general; (ii) facultades para contratar con terceros
ajenos a la operativa bancaria; (iii) facultades laborales; (iv) facultades
para disponer de activos distintos a los movimientos permitidos en las Cuentas
Controladas; (v) representación judicial general; ni (vi) facultades para
modificar el Acuerdo, el Addendum,
el Trust Agreement
o el waterfall. El apoderado
no podrá ampliar,
delegar, ceder o sustituir
este poder sin autorización previa y escrita de Energea y de la Sociedad.
CUARTA - Vigencia, dormancia, reactivación y terminación.
(a) Vigencia inicial. Este poder rige desde su inscripción en ▇▇ ▇▇▇▇▇▇
de Comercio competente.
(b) Período Interino (Interim Period). Desde la inscripción hasta la Trust Effective Date
(según se define en la Sección 9.1(b) del Addendum), el Apoderado Especial
Bancario ejercerá activamente sus facultades sobre
la Cuenta
de Recaudo
Controlada y la Cuenta DSRA.
(c) Dormancia durante vigencia del Trust. Una vez constituida ▇▇ ▇▇▇▇▇▇▇ mercantil (Trust)
y operativa la administración fiduciaria sobre las Cuentas Controladas, las
facultades del Apoderado Especial Bancario quedarán en estado de dormancia. Durante la dormancia: (i) el registro
en Cámara de Comercio permanecerá vigente; (ii) los perfiles de e-banking se
mantendrán configurados pero desactivados; y (iii) el apoderado no ejecutará instrucciones
salvo que se active
la reactivación conforme
a la cláusula (d) siguiente.
(d)
Reactivación automática. Las facultades del Apoderado Especial
Bancario se reactivarán de pleno derecho,
sin necesidad de resolución adicional, ante cualquiera de los siguientes
eventos:
(i) terminación, resolución, liquidación o nulidad del contrato ▇▇ ▇▇▇▇▇▇▇ mercantil (Trust Agreement);
(ii) la entidad fiduciaria (Trustee) cese en sus funciones, sea intervenida, liquidada, o pierda su autorización para operar, y no sea reemplazada dentro
de los treinta (30) ▇▇▇▇ Hábiles siguientes;
(iii) la Sociedad o Energea notifique al apoderado que el Trust ha dejado
de ser operativo por cualquier causa; o
(iv) ocurra un Event
of Default bajo el Acuerdo
que afecte la operatividad de las Cuentas
Controladas.
Dentro de ▇▇▇ ▇▇▇▇▇ (5) ▇▇▇▇ Hábiles
siguientes a la reactivación, Helios
▇▇▇▇▇▇ reactivar los perfiles de e-banking y notificar a las entidades financieras
correspondientes.
(e) Terminación. Este
poder terminará únicamente cuando todas las Obligaciones bajo el Financiamiento
hayan sido íntegramente satisfechas y Energea emita un Release Notice. Mientras
existan Obligaciones, este poder no
podrá ser revocado, limitado
o sustituido sin consentimiento previo y escrito
de Energea.
QUINTA - Inscripción, formalización y apostilla.
Se autoriza al Representante Legal de la Sociedad para:
(i) elevar estas
decisiones a documento para inscripción en el
Registro Mercantil; (ii) gestionar notarización, apostilla y traducciones oficiales si las exigen bancos
del exterior;
(iii) suscribir y entregar Cartas de Instrucciones a cada banco, coherentes con el Acuerdo
y el Addendum; y (iv) expedir copias certificadas de la
presente acta y sus anexos.
SEXTA - Alineación operativa y prevalencia.
La actuación del apoderado ▇▇ ▇▇▇▇▇▇ por el Acuerdo,
el Addendum, y por las Cartas de Instrucciones remitidas a cada banco. En caso de conflicto, prevalecerán el Acuerdo y
el Addendum. Durante la dormancia del poder, las instrucciones a bancos serán
impartidas exclusivamente por el Trustee conforme al Trust Agreement.
SÉPTIMA - Entregables y archivo.
La Sociedad obtendrá y
conservará: (i) aceptación escrita del apoderado (Anexo 1 de este Exhibit D);
(ii) copia de identificación y demás KYC/AML exigidos por los bancos; (iii)
▇▇▇▇▇▇▇▇▇▇ de inscripción del poder en Cámara de Comercio; (iv) copia de las Cartas de Instrucciones entregadas a los bancos; (v) evidencia de activación de perfiles y parámetros de e-banking bajo el esquema
maker-checker; y (vi) soportes de los accionistas.
OCTAVA - Autorización a bancos y terceros.
Se autoriza a las entidades
financieras donde se mantengan las Cuentas Controladas a reconocer y dar curso
a las instrucciones impartidas por el Apoderado
Especial Bancario conforme
a esta acta, el Acuerdo
y el Addendum, y se ordena
a Tesorería de Helios no instruir operaciones sobre la Cuenta
de Recaudo Controlada o la Cuenta
DSRA que contravengan el
waterfall o que no cuenten con la aprobación del apoderado.
NOVENA - Prohibición respecto de Cuentas Controladas y limitación de facultades bancarias.
(a) El Representante Legal, administradores, tesorería y cualquier
funcionario de Helios no podrán instruir, autorizar, ejecutar, modificar perfiles
o firmantes ni disponer de fondos en la Cuenta
de Recaudo Controlada o la
Cuenta DSRA salvo mediante el flujo maker-checker y con aprobación y ejecución del Apoderado Especial Bancario.
(b) Las entidades financieras deberán rechazar instrucciones que no cumplan
con el flujo anterior; la Sociedad
ratifica que tales instrucciones no la obligan y autoriza al Apoderado a exigir
su reversión.
(c) Toda actuación en contravención de esta cláusula
es ineficaz internamente; la Sociedad y sus funcionarios deberán revertir cualquier
operación realizada y reportarla a Energea en un plazo de un (1) día hábil.
(d) Para claridad: esta restricción aplica
exclusivamente a la Cuenta de Recaudo Controlada y la Cuenta
DSRA. Las cuentas operativas
de Helios, financiadas con recursos liberados conforme al waterfall, no
están sujetas a las
restricciones de esta Resolución y Helios mantiene
plena autonomía sobre su operación.
DÉCIMA - Condición para apertura y operación de Cuentas Controladas.
(a) La apertura de cualquier cuenta
que sea designada como Cuenta Controlada requerirá, como condición, la configuración de perfiles de e-banking maker-checker y el
registro del Apoderado Especial Bancario como
checker/aprobador.
(b) Hasta tanto no se cumplan
dichas condiciones, la cuenta se considerará no operativa y no podrá recibir ni efectuar débitos, transferencias o
pagos.
(c) Cuando el banco exija la firma del Representante Legal para apertura,
dicha firma será meramente formal y no confiere facultades operativas fuera
del flujo maker-checker.
UNDÉCIMA - Consistencia con el Addendum.
Esta Resolución se otorga en cumplimiento de la
Sección 9.3(c) del Addendum No. 01 al Loan and Security Agreement. Las
disposiciones de dormancia, reactivación y terminación contenidas en la
Resolución CUARTA se interpretarán de manera consistente con la Sección 9.6 del
Addendum. En caso de inconsistencia entre esta Resolución y el Acuerdo
o el Addendum, prevalecerán las disposiciones del Acuerdo y del Addendum. Los términos
definidos en el Acuerdo y el Addendum tendrán el mismo significado cuando se
utilicen en esta Resolución.
--------------------
No siendo otros los asuntos
por tratar, se aprueba el contenido de la presente
acta y se firma en la ciudad de [•], a
los [•] ▇▇▇▇ del mes de [•] de [•].
V. Firma
POR LA ASAMBLEA DE ACCIONISTAS DE HELIOS ENERGÍA S.A.S. E.S.P.
Firma:
Nombre: [•] Cargo: [•]
Identificación: [•]
--------------------
ANEXO 1 - Aceptación del Apoderado Especial
Bancario
Yo, [•], identificado(a) con
[•], acepto el nombramiento conferido en la presente acta como Apoderado
Especial Bancario de Helios
Energía S.A.S. E.S.P.,
y declaro conocer
y acatar sus límites, vigencia, exclusiones, dormancia,
reactivación y la sujeción al Loan and Security Agreement, al Addendum No. 01,
al waterfall, al esquema maker-checker y a las Cartas de Instrucciones.
Acepto que mis facultades se limitan exclusivamente a la Cuenta
de Recaudo Controlada (Revenue Controlled
Account) y a la Cuenta DSRA (DSRA Controlled Account), y que no tengo
representación legal general de la Sociedad.
Firma: •
Fecha: • Email/Tel:
--------------------
ANEXO 2 - Parámetros Operativos Mínimos (Checklist de activación)
1.
Cuentas sujetas
al poder: (a) Cuenta de Recaudo Controlada - banco: [•], número: [•], sucursal: [•]; (b)
Cuenta DSRA - banco: [•], número: [•], sucursal: [•].
2. Perfiles de e-banking: maker (Tesorería Helios) / checker
(Apoderado Especial Bancario).
3. Límites y reglas:
montos por nivel, cut-off
times, autenticación de dos factores, reporte diario a [• correo(s)].
4. Cartas de Instrucciones: firmadas por Representante Legal de Helios
y Apoderado, entregadas a cada banco.
5. Comprobantes del banco:
(i) rol checker activo
para el Apoderado; (ii) bloqueo de ejecuciones sin checker; (iii) prueba de rechazo a instrucción sin
aprobación del checker.
6.Cuentas operativas: Confirmar que las cuentas
operativas de Helios
(no sujetas a este poder)
están debidamente separadas y
que los perfiles de e-banking de dichas cuentas NO incluyen al Apoderado
Especial Bancario como
checker.
--------------------
ANEXO 3 - Soportes del Accionista / Shareholders Support
Documents
Los siguientes documentos deberán acompañar esta Acta para efectos de inscripción en Cámara de Comercio y para
verificación por Energea:
1. Certificado de Existencia y Representación Legal expedido por la Cámara de Comercio competente, con vigencia no mayor a treinta (30) ▇▇▇▇ calendario.
2. Copia del documento
de identidad del(de los) accionista(s) y del Representante Legal.
3. Composición accionaria certificada vigente
(Libro de Registro
de Accionistas o certificación del Representante
Legal).
4. Poder otorgado al Apoderado (si es persona distinta
del designado en esta acta,
incluir ▇▇▇▇▇▇ de poderes).
5. Certificación de cumplimiento AML/KYC del Apoderado Especial
Bancario, según requerido
por las entidades financieras.
SCHEDULE 4-A
LEGACY TRADE PAYABLES
RELACIÓN DE CUENTAS POR PAGAR COMERCIALES PREEXISTENTES
Addendum No. 01 to the Loan and Security
Agreement dated January
22, 2025 Energea Portfolio 5
LATAM LP / Helios Energía S.A.S. E.S.P.
This Schedule is delivered
pursuant to Section 3.1.7(a) of Addendum No. 01 (the "Addendum") to the Loan
and Security Agreement, dated
as of January 22, 2025 (the "Agreement"), by and between
Energea Portfolio 5 LATAM
LP ("Energea") and Helios Energía
S.A.S. E.S.P. ("Helios"). All capitalized terms
used but not defined herein
shall have the meanings ascribed to them in the Agreement and the
Addendum.
Helios hereby certifies that
the following is a complete and accurate list of all Legacy Trade Payables (as
defined in Section 3.1.7(a) of the Addendum) outstanding as of the date of this Addendum, being
all trade payables
to vendors, contractors, and
service providers that arose prior to the date of the Addendum and that are not
classified as Indebtedness under Section
1.73 for purposes
of the mandatory repayment or subordination obligation under Section 3.1.6.
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Creditor Name
Nombre del Acreedor
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NIT / Tax ID
NIT / Identificación
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Amount Outstanding
(USD)
Monto Pendiente (USD)
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Nature of Obligation
Naturaleza de ▇▇ ▇▇▇▇▇▇▇▇▇▇
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Invoice / Due Date Fecha Factura / Vencimiento
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Aging B
D
Rango
de A
D
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TOTAL
/ TOTAL:
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USD
[ ]
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NOTES / NOTAS
1. Aging Bracket / Rango de Antigüedad: Indicate the number of days elapsed
since the original
due date or invoice date, in 30-day brackets:
Current (0-30), 31-60, 61-90, 91-120, 121-180, 181-360, Over 360.
2. Subordination Status / Estado de Subordinación: Indicate one of the following: (a) "Subordinating Vendor"
- creditor has executed a subordination acknowledgment per Section
3.1.7(d); (b) "Non-Subordinating Vendor" - creditor has not executed
a subordination acknowledgment; or (c) "Pending" - subordination acknowledgment has
been requested but not yet received.
3. Nature of Obligation / Naturaleza de ▇▇ ▇▇▇▇▇▇▇▇▇▇: Briefly describe
the underlying goods
or services (e.g.,
EPC installation, equipment supply, maintenance services, consulting,
logistics, office lease).
4. If additional rows are required,
attach continuation pages in the same format and reference
them as "Schedule
4-A (cont.)" with sequential page numbers. Each continuation page must
be initialed by all parties.
5. This Schedule shall be updated and redelivered to
Energea together with each Monthly Report delivered under Section 5.2.1(c), reflecting payments made,
aging changes, and subordination status
updates, until all Legacy Trade
Payables have been fully extinguished (per Section 3.1.7(g)).
CERTIFICATION / CERTIFICACIÓN
Helios hereby certifies
that this Schedule
4-A is true, correct, and complete in all material
respects as of the date set
forth below, and that no Legacy Trade Payable has been omitted. Helios further
certifies that the aging information provided herein is accurate and that the
subordination status of each creditor is current.
HELIOS ENERGÍA S.A.S. E.S.P.
By: Name: Title:
Date:
ACKNOWLEDGED BY: ENERGEA PORTFOLIO 5 LATAM LP
By: Name: Title:
Date:
SCHEDULE 6-A
FORM OF SUPPLIER SUBORDINATION ACKNOWLEDGMENT
ANEXO 6-A - MODELO DE RECONOCIMIENTO DE SUBORDINACIÓN DE PROVEEDORES
Addendum No. 01 to the Loan and Security Agreement dated January 22, 2025
Energea Portfolio 5 LATAM LP / Helios Energía S.A.S. E.S.P.
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SCHEDULE 6-A
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ANEXO
6-A
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FORM OF SUPPLIER SUBORDINATION ACKNOWLEDGMENT
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MODELO DE
RECONOCIMIENTO DE SUBORDINACION DE PROVEEDORES
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PARTIES
/ PARTES
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PARTES
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Supplier (the "Supplier"):
Name: [•]
NIT: [•]
Address: [•]
Legal Representative: [•]
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Proveedor (el "Proveedor"):
Nombre: [•]
NIT: [•]
Dirección: [•] Representante Legal: [•]
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Borrower:
Helios Energía S.A.S.
E.S.P. NIT: [•]
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Deudor:
Helios Energía S.A.S.
E.S.P. NIT: [•]
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Senior Creditor:
Energea Portfolio 5 LATAM LP
(the "Senior Creditor" or "Energea")
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Acreedor
Senior: Energea Portfolio 5 LATAM LP (el "Acreedor Senior" o "Energea")
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RECITALS
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CONSIDERANDOS
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WHEREAS, Energea and Helios are parties to a Loan and
Security Agreement dated
January 22, 2025
(as amended by Addendum No. 01, the "Agreement"), under
which Energea holds a
first-priority secured claim over substantially all assets, revenues, and
accounts of Helios;
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CONSIDERANDO QUE Energea y Helios son partes de un
Loan and Security Agreement de fecha 22 de enero
de 2025 (según enmendado por el Addendum No. 01, el "Acuerdo"),
bajo el cual Energea tiene un crédito garantizado de primer grado sobre
sustancialmente todos los activos, ingresos y cuentas de Helios;
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WHEREAS, the Supplier maintains a commercial
relationship with Helios
involving the supply
of goods and/or services, and the aggregate
outstanding obligations of Helios to the Supplier exceed or are expected to
exceed USD 200,000;
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CONSIDERANDO QUE el Proveedor mantiene una relación
comercial con Helios que involucra el suministro de bienes y/o servicios, y
las obligaciones pendientes agregadas de Helios con el Proveedor exceden o se
espera que excedan USD 200,000;
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WHEREAS, Section 5.2.14 of the Agreement (as amended)
requires Helios to obtain a subordination acknowledgment from any supplier whose
outstanding obligations exceed
USD 200,000, as a condition precedent to incurring or maintaining such
obligations;
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CONSIDERANDO QUE la Sección 5.2.14 del Acuerdo (según
enmendado) requiere que ▇▇▇▇▇▇ obtenga un reconocimiento de subordinación de
cualquier proveedor cuyas obligaciones pendientes excedan USD 200,000, como condición precedente para incurrir o mantener dichas obligaciones;
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WHEREAS, the Supplier has agreed to execute this
Acknowledgment to enable
Helios to comply
with its obligations under
the Agreement;
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CONSIDERANDO QUE el Proveedor ha aceptado ejecutar
este Reconocimiento para
permitir que Helios
cumpla con sus obligaciones bajo el Acuerdo;
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OPERATIVE CLAUSES
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CLAUSULAS OPERATIVAS
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(a) Subordination of Claims.
The Supplier acknowledges and agrees that all present
and future claims against Helios arising from commercial transactions between
the Supplier and Helios (including invoices, facturas, purchase orders,
deferred payments, guarantees, and any other commercial obligation) are and
shall be subordinated in right
of payment to all Obligations of Helios to Energea under the Agreement. No payment shall
be
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(a) Subordinación de Créditos.
El Proveedor reconoce y acepta que todos los créditos
presentes y futuros contra Helios derivados de transacciones comerciales entre
el Proveedor y Helios (incluyendo facturas, órdenes de compra,
pagos diferidos, garantías y cualquier otra obligación comercial) están y
estarán subordinados en derecho de pago a todas las Obligaciones de Helios
con Energea bajo el Acuerdo. Ningún pago se realizará al
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made to the Supplier from
any source until
all amounts then due and payable to Energea under
the Agreement have
been fully satisfied, unless such payment is made from amounts
lawfully released to Helios after satisfaction of all senior priorities in
accordance with the waterfall provisions of the Agreement.
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Proveedor de fuente alguna hasta que todas las sumas
entonces vencidas y pagaderas a Energea bajo el Acuerdo hayan sido
íntegramente satisfechas, salvo
que dicho pago
se realice con recursos legalmente liberados a Helios tras la
satisfacción de todas las prioridades senior conforme a las disposiciones de
▇▇▇▇▇▇▇ (waterfall) del Acuerdo.
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(b) Waterfall and Controlled Account
Recognition.
The Supplier acknowledges the existence of the
controlled account structure, the Interim Waterfall (Section 9.4), and the
Trust waterfall (once established), and agrees that payments to the Supplier
shall only be made from amounts released to Helios after satisfaction of all
senior priorities in accordance with such waterfall provisions. The Supplier shall not seek
to redirect, intercept, or attach funds in the Revenue Controlled
Account, the DSRA Controlled Account (being the Interim Reserve Account as
defined in Section 9.1(j) of Addendum No.
01, or the Trust-administered reserve
account holding the DSRA following the Trust Effective
Date), or any Trust-administered account.
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(b) Reconocimiento de Cascada y Cuentas Controladas.
El Proveedor reconoce la existencia de la estructura
de cuentas controladas, la ▇▇▇▇▇▇▇ Interina (Sección 9.4) y la ▇▇▇▇▇▇▇ del
Trust (una vez establecida), y acepta que los pagos al Proveedor solo
se realizarán con
recursos liberados a Helios tras la satisfacción de todas
las prioridades senior conforme a dichas disposiciones de ▇▇▇▇▇▇▇. El
Proveedor no buscará redirigir, interceptar ni embargar fondos
en la Cuenta de Recaudo Controlada, la Cuenta
DSRA (siendo la Cuenta de Reserva Interina según la Sección 9.1(j) del
Addendum No. 01, o la cuenta de reserva administrada por el Trust que
contiene la DSRA tras la Trust Effective Date), ni en ninguna
cuenta administrada por el Trust.
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(c) Waiver
of Precautionary Measures (Medidas Cautelares).
The
Supplier irrevocably waives the right to seek or obtain any precautionary
measure (medida cautelar), including embargos, secuestros,
suspension of operations, or any other provisional remedy, against: (i)
the Revenue Controlled Account; (ii) the DSRA Controlled Account; (iii) any
Trust-administered account; or (iv) any other account or asset subject to
Energea's security interest, in connection with any claim arising
from commercial transactions with Helios. This waiver extends to proceso
ejecutivo proceedings under Law 1231 of 2008 and shall be effective
notwithstanding that the Supplier may hold instruments with merito
ejecutivo. The Supplier further waives any right to initiate, join, or
participate in any terceria de mejor derecho or other priority dispute
proceeding against any asset, receivable, or account subject to Energea's
security interest under the Agreement, and acknowledges that Energea's claims
rank senior to all claims of the Supplier in any such proceeding.
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(c) Renuncia a Medidas Cautelares.
El
Proveedor renuncia irrevocablemente al derecho de solicitar u obtener
cualquier medida cautelar, incluyendo embargos, secuestros, suspensión de
operaciones o cualquier otra medida provisional, contra: (i) la Cuenta de
Recaudo Controlada; (ii) la Cuenta DSRA; (iii) cualquier cuenta administrada por el Trust;
o (iv) cualquier otra cuenta o activo
sujeto a la garantía de Energea, en relación con cualquier reclamación
derivada de transacciones comerciales con ▇▇▇▇▇▇. Esta renuncia se extiende a
procesos ejecutivos bajo ▇▇ ▇▇▇
1231 de 2008 y será efectiva no obstante que el Proveedor pueda tener
instrumentos con mérito ejecutivo. El Proveedor renuncia adicionalmente a
cualquier derecho de iniciar, participar o coadyuvar en cualquier tercería de
mejor derecho u otro proceso de disputa de prelación contra cualquier activo,
cuenta por cobrar o cuenta sujeta a la garantía de Energea bajo el Acuerdo, y
reconoce que los créditos de Energea tienen prelación sobre todos los
créditos del Proveedor en cualquier procedimiento de esa naturaleza.
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(d) No Acceleration or Diversion.
The Supplier agrees not to: (i) accelerate or demand
immediate payment of any obligation in a manner that would divert funds
from the waterfall; (ii) take any
action that would impair the DSRA or any Controlled
Account; (iii) take any action that would trigger a cross-default under the Agreement; or (iv) interfere with
Energea's security interest or the
controlled account structure.
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(d) No Aceleración ni Desvío.
El Proveedor se compromete a no: (i) acelerar ni
exigir el pago inmediato de cualquier obligación de manera que desviaría
fondos de la ▇▇▇▇▇▇▇; (ii) ▇▇▇▇▇ cualquier acción que afectaría la DSRA
o cualquier Cuenta
Controlada; (iii) ▇▇▇▇▇
cualquier acción que activaría un incumplimiento ▇▇▇▇▇▇▇ bajo
el Acuerdo; o (iv) interferir con la garantía de Energea o la estructura de cuentas controladas.
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(e) Survival.
This Acknowledgment shall survive the termination or
expiration of the underlying commercial contracts between
the Supplier and Helios and shall remain in full force and effect until
all Obligations under
the Agreement have
been satisfied in full and Energea has issued a Release Notice.
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(e) Supervivencia.
Este Reconocimiento sobrevivirá a la terminación o
expiración de los contratos comerciales subyacentes entre el Proveedor y Helios y permanecerá en
pleno vigor y efecto hasta que todas
las Obligaciones bajo
el Acuerdo hayan
sido íntegramente satisfechas y Energea haya emitido un Release
Notice.
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(f) Applicable Law and Dispute Resolution.
This Acknowledgment shall be governed by the laws of
the Republic of Colombia. Any dispute arising under or in connection with this Acknowledgment shall first be submitted
to the conciliation center of the Camara de Comercio de Bogota for a period not exceeding thirty
(30) calendar days.
If
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(f) Ley Aplicable y
Resolucion de Controversias. Este Reconocimiento ▇▇ ▇▇▇▇▇▇ por las leyes de la Republica de
Colombia. Cualquier controversia que surja en relacion con este
Reconocimiento sera sometida primero al centro
de conciliacion de ▇▇ ▇▇▇▇▇▇ de Comercio de Bogota por un
periodo no mayor
a treinta (30)
▇▇▇▇ calendario. De no
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not resolved, the dispute shall be submitted to
binding arbitration before the Centro de Arbitraje y Conciliacion de ▇▇
▇▇▇▇▇▇ de Comercio de Bogota, under a panel of one (1) arbitrator
applying Colombian substantive law; proceedings shall be conducted in
Spanish. Notwithstanding the foregoing, Energea retains the right to pursue enforcement of its security interest under the Agreement in any court of
competent jurisdiction.
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resolverse, la controversia sera sometida a arbitraje vinculante ante el Centro de Arbitraje y
Conciliacion de ▇▇ ▇▇▇▇▇▇ de Comercio de Bogota, ante un panel de un (1)
arbitro aplicando derecho
sustantivo colombiano; el proceso se conducira en espanol. No obstante lo
anterior, Energea conserva el derecho de ejercer la ejecucion de su garantia bajo el Acuerdo ante cualquier tribunal
competente.
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(g) Independent Legal Advice.
The Supplier confirms that it has received independent legal
counsel regarding the terms and implications of this Acknowledgment, including the subordination of its claims, the waiver of precautionary
measures, and the legal effects under Colombian law. The Supplier executes
this Acknowledgment voluntarily and without duress.
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(g) Asesoría Legal Independiente.
El
Proveedor confirma que ha recibido asesoría legal independiente respecto de los términos e implicaciones de este
Reconocimiento, incluyendo la subordinación de sus créditos, la renuncia a
medidas cautelares y los efectos jurídicos
bajo ▇▇ ▇▇▇ colombiana. El Proveedor ejecuta este Reconocimiento voluntariamente y sin coacción.
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(h) Insolvency Persistence.
This subordination and all waivers contained herein
shall survive and remain
in full force
and effect in any insolvency, reorganization,
liquidation, or similar proceeding under Law 1116 of 2006 or any successor
statute. In any calificacion y graduacion de creditos, the Supplier's
claims shall be classified as subordinated to all Obligations owed to Energea under the Agreement. The Supplier shall
not vote in favor of, or otherwise support, any
reorganization plan that does not preserve Energea's senior priority in full.
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(h) Persistencia en Insolvencia.
Esta
subordinacion y todas las renuncias contenidas en el presente sobreviviran y permaneceran en pleno vigor
y efecto en cualquier
proceso de insolvencia, reorganizacion, liquidacion o procedimiento similar
bajo ▇▇ ▇▇▇ 1116 de 2006
o cualquier ▇▇▇▇▇ que la sustituya. En cualquier calificacion y graduacion de creditos, los creditos
del Proveedor seran clasificados como subordinados a todas las Obligaciones
adeudadas a Energea bajo el Acuerdo. El Proveedor no votara
a favor ni apoyara de otra forma ningun plan de reorganizacion que no
preserve integramente la prelacion senior de Energea.
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(i) Independent Trilateral Agreement.
This Acknowledgment constitutes an independent trilateral agreement among the
Supplier, Helios, and Energea and creates direct rights in favor of Energea
as third-party beneficiary, notwithstanding Section 8.1.4 of the Loan and
Security Agreement. Energea may enforce the terms hereof directly against the Supplier
without the prior consent of Helios.
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(i) Acuerdo Trilateral Independiente.
Este Reconocimiento constituye un acuerdo trilateral
independiente entre el Proveedor, Helios y Energea, y crea derechos directos
a favor de Energea como ▇▇▇▇▇▇▇ beneficiario, no obstante lo dispuesto en la
Seccion 8.1.4 del Loan and Security Agreement. Energea podra
hacer valer los terminos del presente directamente contra el Proveedor sin el
consentimiento previo de Helios.
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SIGNATURES
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FIRMAS
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SUPPLIER:
By:
Name: [•]
Title: [•]
Date:
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PROVEEDOR:
Firma:
Nombre: [•] Cargo: [•]
Fecha:
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HELIOS ENERGÍA S.A.S.
E.S.P.:
By:
Name: [•]
Title: [•]
Date:
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HELIOS ENERGÍA S.A.S.
E.S.P.:
Firma:
Nombre: [•] Cargo: [•]
Fecha:
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ACKNOWLEDGED AND ACCEPTED AS THIRD-PARTY
BENEFICIARY:
ENERGEA PORTFOLIO 5 LATAM LP
By:
Name: [•]
Title: [•]
Date:
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RECONOCIDO Y ACEPTADO COMO ▇▇▇▇▇▇▇ BENEFICIARIO:
ENERGEA PORTFOLIO 5 LATAM LP
Firma:
Nombre: [•]
Cargo: [•]
Fecha:
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ANNEX A - SCHEDULE
OF OUTSTANDING OBLIGATIONS
ANEXO A - RELACIÓN DE OBLIGACIONES PENDIENTES
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Invoice No. / No. Factura
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Amount (USD)
/ Monto (USD)
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Invoice Date
/ Fecha Factura
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Due Date / Fecha
Vencimiento
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Payment Terms
/ Condiciones de Pago
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[•]
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[•]
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[•]
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[•]
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[•]
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[•]
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[•]
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[•]
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[•]
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[•]
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TOTAL
/ TOTAL:
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USD [•]
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Note: If additional rows are required, attach continuation pages
in the same format and reference them as "Annex A (cont.)" with
sequential page numbers. Each continuation page must be initialed by all
parties.
Nota: Si se requieren ▇▇▇▇▇ adicionales, adjuntar
paginas de continuacion en el mismo formato y referenciarlas como "Anexo A (cont.)" con paginas numeradas
secuencialmente. Cada pagina de continuacion ▇▇▇▇▇▇ ser rubricada por todas las
partes.