Fillable Security Agreement Template (January 2014) (Page 2 of 11) in pdf

emission reductions of a given pollutant) is not indicated by an environmental attribute, though it can

be quantified separately in pollution trading markets and through engineering estimates. The

Environmental Attribute represents all environmental benefits, whether or not trading markets for

such pollutants or benefits exist. Secured Party will quantify any and all Environmental Attributes

and have the right to trade said Environmental Attributes for its own account in a manner consistent

with the Loan Agreement.

“Equipment” means all solar panels and related Project equipment, machinery,

components, additions, wirings, meters, replacement parts and consumables used and/or useful with

respect to the Project.

“Event of Default” has the meaning set forth in Section 4.1.

“General Intangibles” has the meaning assigned to such term in the Code.

“Grantor” has the meaning ascribed to such term in the Preamble.

“Instruments” has the meaning assigned to such term in the Code.

“Investment Property” has the meaning assigned to such term in the Code.

“Liens” means any and all mortgages, liens, charges, hypothecations, assignments,

security interests and/or encumbrances of any kind, and/or pledges and/or deposits of any nature.

“Obligations” means: (a) the principal amount of the Loan advanced by Secured

Party to Grantor; (b) any and all interest accrued and to accrue on the Loan; (c) any and all fines, fees

and penalties related to the Loan; (d) any and all liabilities of Grantor to Secured Party related to the

Loan and the Loan Agreement; and (e) any and all costs and expenses of, or incurred by, Secured

Party in collecting any of the foregoing and enforcing this Agreement or the other Loan Documents

(as such term is defined in the Loan Agreement), including, without limitation, reasonable attorneys'

fees and disbursements incurred and court costs.

“Permitted Encumbrances” means: (a) Liens securing taxes, assessments and/or

governmental charges and/or levies or the claims of materialmen, mechanics, carriers,

warehousemen, landlords and other similar Persons, the payment of which are not currently due and

payable; and (b) Liens in favor of Secured Party.

“Person” means any individual, sole proprietorship, partnership, joint venture, trust,

unincorporated organization, association, corporation, institution, entity, party, limited liability

company, or government agency (whether national, federal, state, county, city, municipal or

otherwise).

“Proceeds” means any consideration received from the sale, exchange, collection or

other disposition of the Collateral or any portion thereof, and any and all payments received from any

insurer or other Person as a result of the destruction, loss, theft, damage, casualty or other involuntary

conversion of whatever nature of the Collateral or any portion thereof.

“Project” means that certain solar generation system developed, designed, procured

and installed at the Real Property.

Security Agreement Template (January 2014) Page 2