Check appropriate box The Project received a final notice of Agreed determination under the California Environmental Quality Act (“CEQA”), the National Environmental Policy Act (“NEPA”) Compliance with and/or other comparable environmental law Not Agreed Environmental of the state where the Project is located. Regulations Buyer’s and SCPPA Project participant’s acceptance of the Project’s environmental compliance may be be a condition precedent Comments: to Buyer entering into the PPA. ___________ appropriate box Agreed shall have the right of first refusal and the right of first offer for any proposed sale of the Project or any interest held by Seller in Right of First Offer and Not Agreed the Project; provided that this right of first First Refusal refusal and right of first offer shall not apply with respect to the sale of interests in Seller in connection with a tax equity financing. Comments: ___________ shall have the right to purchase the Check appropriate box Project during the term of the Project by Agreed providing a tentative notice to Seller of its right to exercise its purchase option: 1 year prior to the 7th anniversary of COD, with closing to occur on the 7th Not Agreed anniversary of COD. 1 year prior to the 10th anniversary of COD, with closing to occur on the 10th anniversary of COD. Comments: 1 year prior to the 15th anniversary of ___________ Project Purchase Option COD, with closing to occur on the 15th anniversary of COD. 1 year prior to every subsequent five years after the 15th anniversary of COD until the end of the term of the PPA. The above collectively (the Purchase “Project Option”). Disclosure Updates: No later than 45 days after receipt of Buyer’s tentative option
Compliance with Environmental Regulations The Project received a final notice of determination under the California Environmental Quality Act (“CEQA”), the National Environmental Policy Act (“NEPA”) and/or other comparable environmental law of the state where the Project is located. Buyer’s and SCPPA Project participant’s acceptance of the Project’s environmental compliance may be be a condition precedent to Buyer entering into the PPA. Check appropriate box Agreed Not Agreed Comments: ___________ Right of First Offer and First Refusal shall have the right of first refusal and the right of first offer for any proposed sale of the Project or any interest held by Seller in the Project; provided that this right of first refusal and right of first offer shall not apply with respect to the sale of interests in Seller in connection with a tax equity financing. appropriate box Agreed Not Agreed Comments: ___________ Project Purchase Option shall have the right to purchase the Project during the term of the Project by providing a tentative notice to Seller of its right to exercise its purchase option: 1 year prior to the 7th anniversary of COD, with closing to occur on the 7th anniversary of COD. 1 year prior to the 10th anniversary of COD, with closing to occur on the 10th anniversary of COD. 1 year prior to the 15th anniversary of COD, with closing to occur on the 15th anniversary of COD. 1 year prior to every subsequent five years after the 15th anniversary of COD until the end of the term of the PPA. The above collectively (the “Project Purchase Option”). Disclosure Updates: No later than 45 days after receipt of Buyer’s tentative option Check appropriate box Agreed Not Agreed Comments: ___________
Appendix_B_Term_Sheet_final.docx