CONTRATO DE PRESTAÇÃO DE SERVIÇOS DE
GESTÃO DE CRÉDITO E SISTEMA
DE FATURA DE ENERGIA ELÉTRICA ONLINE
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AGREEMENT FOR THE PROVISION OF CREDIT MANAGEMENT
SERVICES AND ONLINE ELECTRICITY INVOICE SYSTEM
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Pelo presente instrumento particular e na melhor forma de
direito, as partes abaixo indicadas, de um lado:
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By this particular instrument and in the best form of law, the
parts listed below, on the one hand:
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CONSORCIO
DE GERACAO COMPARTILHADA DE ENERGIA ELETRICA ENERGEA, sociedade empresária de responsabilidade
limitada, inscrita no Cadastro Nacional de Pessoas Jurídicas do Ministério da
Economia ("CNPJ") sob o n° 36.087.207/0001-70, com sede na R NUCLEO RURAL,
SITIO BOA ESPERANCA SETOR B, ZONA RURAL, PEDRO TEIXEIRA, MINAS GERAIS - MG,
36.148-000, neste ato representada na forma de seu contrato social, por seus
representantes legais abaixo assinado, doravante
denominada simplesmente "Contratante";
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CONSORCIO DE
GERACAO COMPARTILHADA DE ENERGIA ELETRICA ENERGEA, legal
entity of legal law legally constituted and registered in the National
Registry of Legal Entities (CNPJ) under no. 36.087.207/0001-70, with
headquarters at R NUCLEO RURAL, SITIO BOA ESPERANCA SETOR B, ZONA RURAL, PEDRO
TEIXEIRA, MINAS GERAIS - MG, 36.148-000, in this act duly represented in
the form of its Bylaws by its below signed representatives, herein
represented in the form of its Articles of Association
hereinafter referred to as "Contracting
Party";
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E de
outro lado:
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And
on the other hand:
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ENERGEA
BRASIL OPERAÇÕES LTDA., sociedade
limitada, regularmente registrada no CNPJ/ME sob o número 41.161.846/0001-90, com sede
na Rua
Barão de Jaguaripe, n° 280/501, na Cidade e Estado do Rio de Janeiro, CEP
22.421-000,
neste ato representada na forma de seu Contrato Social,
doravante denominada simplesmente "Contratada";
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ENERGEA
BRASIL OPERAÇÕES LTDA., a limited
liability company, regularly registered in the CNPJ/ME under No.
41.161.846/0001-90, with address at Rua Barão de Jaguaripe, No. 280/501, in
the city and State of Rio de Janeiro, CEP 22.421-000, herein represented in
the form of its Articles of Association, hereinafter referred to as "Contractor";
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Contratante e Contratada
designadas, individualmente, como "Parte" e, conjuntamente, como "Partes".
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Contracting
Party
and Contractor designated individually as "Party" and,
together, as "Parties".
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CONSIDERANDO
QUE:
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WHEREAS:
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I. A Contratada desenvolveu um sistema de gestão de faturas de
energia elétrica para projetos de geração distribuída ("Sistema") e possui
experiência na gestão de diversos projetos de geração distribuída em
diferentes distribuidoras;
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I. The Contractor has developed an electricity
invoice management system for distributed generation
projects ("System") and has experience in managing
several distributed generation
projects with different distribution companies;
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II.
A Contratante possui uma usina de geração solar
localizada em Iguatama/MG (o
"Projeto") e tem interesse na disponibilização
do Sistema desenvolvido pela Contratada e nos serviços
relacionados a marketing e
aquisição de clientes e de gestão
junto a distribuidora e da compensação de energia
para o Projeto;
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II.
The Contracting Party owns a solar
photovoltaic generating plant, located at Iguatama/MG(the
"Project") and is interested in the System developed by the Contractor
and in the marketing, customer acquisition and management services with the distribution
company and energy compensation for the Project;
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AGORA, PORTANTO, em consideração às promessas e acordos mútuos estabelecidos abaixo, e outras considerações justas e valiosas, cujo recebimento e suficiência são reconhecidos por meio deste, as Partes, pretendendo estar legalmente vinculadas por meio deste, concordam em celebrar este Contrato de Prestação de Serviços de Gestão de Crédito e Sistema de Fatura de Energia Elétrica Online (o "Contrato"), neste dia [•] ("Data de Assinatura"), de acordo com as seguintes Cláusulas, termos e condições: |
NOW THEREFORE, in
consideration of the mutual promises and covenants set forth below, and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties, intending to be legally bound, hereby agree
to enter this
Agreement for the Provision of Credit Management Services and Online
Electricity Invoice System (the "Agreement"), on [•] (the
"Execution Date") in accordance with the following Clauses, terms and
conditions:
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1. DEFINIÇÕES | 1. DEFINITIONS |
1.1 Sem
prejuízo das outras definições feitas no presente instrumento, os termos
abaixo, no plural ou no singular, no masculino ou no feminino, terão os seguintes
significados, quando redigidos conforme indicados abaixo:
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1.1 Without
prejudice to other definitions made in this Agreement, the terms given below,
in the plural or in the singular, in the masculine or feminine, shall have
the following meanings, when written as indicated below:
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(i)
Data
Efetiva:
Data de início da prestação de serviços pela Contratada à Contratante;
(ii)
Cliente:
significa todos os membros do Consorcio de Geração Compartilhada de Energia
Eletrica Energea;
(iii)
Distribuidora:
significa a CEMIG;
(iv)
Data
de Assinatura: [•];
(v)
Portal
Energea: Sistema computacional controlado pela Contratada
em ambiente de computação em nuvem ("Cloud computing") para gestão de fatura
de energia elétrica;
(vi)
Preço
ou Remuneração: é a quantia paga mensalmente pelo Contratante à
Contratada pelo serviço ora contratado, que variará de acordo com a
quantidade de Unidades Consumidoras cadastradas e ativas;
(vii)
Valor
do Contrato: é o valor da remuneração contratual aplicável ao mês
em que ocorreu o evento ensejador da aplicação da multa.
(viii)
Relatório
de Serviço mensal: é um relatório contendo o detalhamento dos
Serviços realizados no determinado mês.
(ix)
Custo
do Serviço de Suporte: é um custo variável relacionado às
atividades de suporte realizadas em determinado mês.
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(i)
Effective
Date:
Date of initiation of the provision of services by the Contractor to
the Contracting Party;
(ii)
Customer: means the members of the Consorcio de
Geração Compartilhada de Energia Eletrica Energea;
(iii)
Distribution
Company:
means CEMIG;
(iv)
Execution
Date:
[•];
(v)
Portal
Energea: Contracted
computer system in cloud computing environment ("Cloud computing")
for electricity invoice management;
(vi)
Price
or Compensation is the amount paid monthly by the Contracting Party
to the Contractor for the service contracted, which will vary
according to the amount of registered and active Consumer Units;
(vii)
Contract
Value:
It is the contractual compensation amount applicable to the month in which
the event triggering the imposition of the penalty occurred.
(viii) Monthly Service
Report
is a report detailing the Services performed in a given month.
(ix)
Support
Service Cost
is a variable cost related to the actual customer service activity performed.
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1.2 Interpretação. No presente Contrato, uma referência: | 1.2 Interpretation. In this Agreement, a reference to: |
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(a) ao singular inclui o plural e vice-versa; | (a) the singular will include the plural and vice-versa; |
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(b) todas as referências ao masculino, ao feminino e ao gênero neutro incluem todos os outros; | (b) any references to the masculine, the feminine and the neutral gender will include each other; |
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(c) à expressão "esta Cláusula" será considerada, a menos que seja seguida por uma referência a uma disposição específica, como se referisse a toda a Seção (e não simplesmente àquele(a) subseção, parágrafo ou outra disposição) em que a expressão ocorra; | (c) the expression "this Section" will, unless followed by reference to a specific provision, be deemed to refer to the whole Section (not merely the sub section, paragraph or other provision) in which the expression occurs; |
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(d) aos títulos de Cláusulas, Anexos e partes e parágrafos de Anexos serve apenas para conveniência e não afeta a interpretação do presente Contrato; | (d) headings to Sections, Exhibits and parts and paragraphs of Exhibits are for convenience only and do not affect the interpretation of this Agreement; |
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(e) à expressão "por escrito" compreende qualquer comunicação feita por carta, e-mail ou fax; | (e) the expression "in writing" includes any communication made by letter, e-mail or fax; |
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(f) à expressão "inclui" e "inclusive/incluindo", bem como todas as suas variantes, serão interpretadas apenas como por meio de ilustração ou ênfase e não serão interpretadas como, tampouco terão sentido como se limitassem a generalidade de qualquer um dos termos anteriores; | (f) the expression "include" and "including" will be construed as being by way of illustration or emphasis only and will not be construed as, nor will they take effect as, limiting the generality of any preceding words; |
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(g) à expressão "dias" no presente Contrato refere-se aos dias de um calendário de 12 (doze) meses nos Estados Unidos; | (g) the expression "days" in this Agreement is to days of a 12 (twelve) month United States calendar; |
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(h) à expressão "Pessoa" inclui uma referência a qualquer indivíduo, firma, empresa, corporação ou outro órgão corporativo, autoridade governamental ou qualquer iniciativa conjunta, associação ou parceria, conselho de trabalhadores ou órgão representativo de funcionários (independente se tem ou não uma personalidade jurídica distinta) e também inclui uma referência aos sucessores e cessionários permitidos dessa pessoa; | (h) the expression "Person" includes a reference to any individual, firm, company, corporation or other body corporate, governmental authority or any joint venture, association or partnership, works council or employee representative body (whether or not having separate legal personality) and also includes a reference to that person's successors and permitted assigns; |
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(i) à expressão "Parte" inclui uma referência aos sucessores e cessionários permitidos dessa Parte; | (i) the expression "Party" includes a reference to that Party's successors and permitted assigns; |
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(j) à Cláusula, introdução, preâmbulo ou anexo, salvo indicado expressamente de outra forma, serve como referência a uma seção, à introdução, ao preâmbulo ou ao anexo do presente Contrato; | (j) a Section, preamble, recitals or schedule, unless expressly stated otherwise, is a reference to a section, to the preamble, to the recitals of or schedule to this Agreement; |
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(k) a qualquer estatuto ou regulamentação é conforme eventualmente alterada e complementada (e a qualquer disposição sucessora), salvo se o contexto requerer de outra forma. Qualquer referência a qualquer estatuto federal, estadual, municipal ou estrangeiro ou a qualquer lei que se aplique também será considerada como se referisse a todas as regras e regulamentações promulgadas em seus termos, salvo exigência em contrário pelo contexto. | (k) any statute or regulation are to it as amended and supplemented from time to time (and, to any successor provisions), unless the context shall otherwise require. Any reference to any federal, state, local or foreign statute or applicable law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise. |
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2. OBJETO | 2. PURPOSE |
2.1
O objeto deste Contrato é descrever os termos e condições sob os quais a
Contratada realizará serviços de marketing e aquisição de clientes e disponibilizará
o sistema de Gestão de Faturas de Energia Elétrica Online ("Sistema") à Contratante
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2.1
The purpose of this Agreement is to describe the terms and conditions under
which Contractor shall provide marketing and customer acquisition services
and make available the online electric energy invoice management
system ("System") to the Contracting
Party .
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2.2
Os Serviços incluem:
(1) Serviços relacionados
a marketing e aquisição de clientes, direta ou indiretamente ("Serviços de
Marketing e Aquisição"), se aplicável.
(2) Serviços relacionados
a gestão de créditos ("Serviços de Gestão de Crédito" e, em conjunto
com os Serviços de Marketing e Aquisição, os "Serviços"), incluindo:
a. Sistema e mecanismo de download e leitura de dados das faturas de
energia;
b. Plataforma WEB para gestão de projetos de geração distribuída;
c. Emissão de relatório mensal com base nos dados disponibilizados;
d. Integração com Sistemas de gestão de pagamentos por boletos ou
faturas para emissão mensal, quando aplicável;
e. Suporte aos clientes dos consórcios em diferentes níveis de
atendimento e controlado por sistema de chamados;
f.
Gerenciamento dos consórcios perante a
distribuidora, quando aplicável;
g. Gestão de compensação de energia e interface junto a
distribuidora;
h. Otimização dos créditos de energia vigentes;
i.
Suporte regulatório e tributário nos aspectos referentes
ao faturamento de geração distribuída;
j.
Cálculo e controle dos valores devidos para
pagamento;
k. Verificação e confirmação de faturamento do Projeto e emissão de
relatórios mensais para o Cliente e a Contratante; e
l.
Suporte técnico da plataforma.
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2.2 The Services shall include:
(1) Services related to marketing and customer
acquisition, directly or indirectly ("Marketing and Acquisition Services"),
if applicable.
(2) Services related to the management of credits ("Credit
Management Services" and, together with the Marketing and Acquisition
Services, the "Services"), including:
a.
System and mechanism for downloading and reading data
from energy invoices;
b.
WEB platform for distributed generation project
management;
c.
Issuance of a monthly report based on the data
made available;
d.
Integration with payment management systems
for monthly billing issuance, when applicable;
e.
Support to clients of consortiums in different service levels,
when applicable;
f.
Management of consortiums with the distribution company, when
applicable;
g.
Energy compensation management and interface with the distribution
company;
h.
Optimization of current energy credits;
i.
Regulatory and tax support in aspects related to
distributed generation billing;
j.
Calculation and control of the amounts due for payment;
k.
Billing verification and confirmation in relation to the
Project and issuance of monthly reports for the Customer and Contracting
Party; and
l.
Technical support for the platform.
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2.3 É do conhecimento da Contratante que a prestação dos Serviços
pela Contratada, com o padrão de qualidade adequado, dependerá do
atendimento, por parte da Contratante, dos requisitos e configurações mínimas
capazes de proporcionar o recebimento adequado do Serviço fornecido,
incluindo: dados gerais e informações de geração do Projeto e suas
interrupções, programações de manutenção, informações técnicas, informações
sobre alterações na representação junto ao Cliente, discussões comerciais ou
contratuais com o Cliente, disponibilização de faturas ou acesso aos sites
das Distribuidoras pelo Cliente.
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2.3 The
Parties agree that the provision of the Services by the Contractor, with the
appropriate quality standard, will depend on the Contracting Party providing
the necessary information and configurations,
including: Project data and generation information and its interruptions,
maintenance schedules, technical information, information regarding changes
in the representation with the Customer, commercial or contractual
discussions with the Customer, invoices and access to the Distribution
Company's website.
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3. PRAZO DE VIGÊNCIA | 3. TERM |
3.1 Este
Contrato será válido e vigorará a partir da Data de Assinatura e permanecerá
válido por um período de 20 (vinte) anos, contados da Data Efetiva ("Prazo").
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3.1 This Agreement shall be valid and in force as of the Execution
Date and shall remain as such for a period of twenty (20) years, counted from
Effective Date ("Term").
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4.
OBRIGAÇÕES DAS PARTES
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4.
PARTIES' OBLIGATIONS
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4.1 Obrigações
da Contratada. Sem prejuízo do cumprimento das demais
obrigações previstas neste Contrato, a Contratada obriga-se a:
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4.1 Contractor's Obligations.
Without prejudice to the other obligations provided in this Agreement, the
Contractor undertakes to:
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i. Cumprir integralmente as
obrigações previstas no(s) contrato(s) com o Cliente;
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i. Fully comply with the obligations established in the
contract(s) with the Customer;
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ii. Prestar os Serviços de acordo
com os termos e condições acordados com a Contratante e refletidos no
presente Contrato;
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ii. Provide the Services in accordance with the terms
and conditions agreed with the Contracting Party and reflected in this
Agreement;
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iii. informar a Contratante, até o dia útil
subsequente à data do evento, de qualquer situação que possa impactar a
execução dos Serviços, como exemplo, situações de ordem operacional, legal,
regulatória, administrativa ou mesmo a ocorrência de mudança de controle da Contratada,
que de alguma forma possa comprometer a boa execução do Contrato ou implique
em conflito de interesses com o Contratante;
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iii. inform Contracting Party, up to
the business day following the date of the event, of any situation that may
impact the execution of the Services, for example, operational, legal,
regulatory, administrative situations or even the occurrence of a change of
control by Contractor, that in any way may compromise the proper performance
of the Contract or imply a conflict of interest with the Contracting Party;
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iv. Implementar os padrões de
gráficos e relatórios desejados pelo Contratante no 1° (primeiro) mês de
prestação de Serviços;
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iv. Implement the charting patterns and reports requested
by the Contracting Party in the 1st (first) month of Service provision;
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v. Para todas as unidades
consumidoras desejadas, incluir os dados históricos de faturas de energia
disponíveis online nos Sites das respectivas distribuidoras;
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v. For all desired consumer units, include historical
data from energy invoices available online on the Sites of their distribution
companies;
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vi. Enviar mensalmente relatório da
central geradora com clientes adquiridos, valores devidos de faturamento e
ações realizadas no mês ("Relatório de Serviço Mensal");
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vi. Send monthly report of the
generating plant with customers acquired, billing amounts due and actions
carried out in the month ("Monthly Service Report");
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vii. Relacionamento junto à
distribuidora de energia para verificação do faturamento de geração
distribuída;
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vii. Relationship with the distribution company to verify
distributed generation billing;
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viii. Garantir disponibilidade mínima
de 95% do servidor do Portal Energea.
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viii. Ensure minimum availability of 95% of the Server of
the Energea Portal.
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4.2 Sem prejuízo das demais disposições
previstas neste Contrato, o Contratante obriga-se a:
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4.2 Without prejudice to the other provisions provided for in
this Agreement, the Contracting Party undertakes to:
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I. fornecer à Contratada os dados, documentos e informações que se façam necessários à boa execução do objeto deste Contrato; |
i. provide the Contractor with the data, documents and information that is necessary for the proper performance of the subject matter of this Agreement; |
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II.
conceder o acesso ao Portal Energea apenas ao
seu pessoal ou aos seus subcontratados, desde que tenham por contrato
autorização para acesso e visualização dos dados;
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ii.
grant access to the Portal Energea only to its staff or
subcontractors, provided that they have a contractual authorization to access
and view the data;
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III. encaminhar à Contratada de imediato, quaisquer documentos ou
informações que forem alteradas ou que possam interferir nos resultados do
objeto deste Contrato;
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iii.
forward to the Contractor immediately, any documents or information
that is amended or that may interfere with the results of the subject matter
of this Agreement;
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5. SEGURANÇA DA
INFORMAÇÃO, SIGILO E CONFIDENCIALIDADE
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5. INFORMATION SECURITY AND CONFIDENTIALITY
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5.1 A Contratada se obriga a cumprir todas as normas e
padrões corporativos relacionados à segurança da informação do Contratante,
respondendo por si e/ou por sua equipe de trabalho, perante o Contratante
e/ou terceiros, por todos os danos decorrentes do uso indevido das
informações disponibilizadas pelo Contratante, por força deste Contrato.
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5.1 The Contractor undertakes to comply with all
corporate standards related to the security of the Contracting Party
information, accounting for himself and/or his work team, before the Contracting
Party and/or third parties, for all damages arising from the misuse of the
information provided by the Contracting Party, pursuant to this Agreement.
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5.2 A Contratada permitirá que o Contratante, ou
empresa por ele indicada, faça avaliações dos controles de segurança da
informação implementados pela Contratada, comprometendo-se a acatar as
recomendações e implementações solicitadas pelo Contratante, no que se refere
à segurança da informação.
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5.2 The Contractor will allow the Contracting Party, or
a company indicated by it, to make evaluations of the information security
controls implemented by the Contractor, committing to comply with the
recommendations and implementations requested by the Contracting Party, with
regard to information security.
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5.3 Para os fins deste Contrato, Informação
Confidencial significa toda e qualquer informação que não seja pública,
qualquer que seja a sua natureza, esteja ou não marcada como "confidencial",
pertencente a qualquer das Partes, aos seus fornecedores ou Contratantes, ou
relacionada de qualquer forma com tal Parte, seus negócios, atividades,
produtos, serviços, fornecedores ou Contratantes, divulgada e/ou tornada
acessível à outra Parte, seja oralmente, por escrito, eletronicamente,
digitalmente, visualmente, ou de qualquer outra forma, antes ou depois da
Data de Assinatura. Informação Confidencial não inclui a informação que (i)
já for conhecida ou obtida de forma independente pela Parte receptora
anteriormente à sua divulgação; (ii) tiver se tornado parte do domínio
público de modo outro que não pela violação desta Cláusula pela Parte
receptora; e (iii) tiver sido legitimamente obtida pela Parte receptora
através de outra pessoa ou entidade que não possua obrigação de
confidencialidade em relação à Parte divulgadora.
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5.3 For the purposes of this Agreement, Confidential
Information means any and all information other than public, whatever its
nature, is or is not marked as "confidential", belonging to any of
the Parties, to its suppliers or Contracting Party, or related in any way to
such Party, its business, activities, products, services, suppliers or Contracting
Party, disclosed and/or made accessible to the other Party, whether orally,
in writing, electronically, visually, or in any other way, before or after
the Subscription Date. Confidential Information does not include information
that (i) is already known to or obtained independently by the receiving Party
prior to its disclosure; (ii) has become part of the public domain in a way
other than by the violation of this Clause by the receiving Party; and (iii)
has been legitimately obtained by the receiving Party through another person
or entity which has no obligation of confidentiality in relation to the
disclosing Party.
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5.4 A Parte receptora compromete-se a manter a
confidencialidade de todas as Informações Confidenciais, não publicar nem
divulgar tais informações para terceiros e não as usar para qualquer
propósito que não seja o cumprimento deste Contrato.
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5.4 The receiving Party undertakes to
maintain the confidentiality of all Confidential Information, not to publish
or disclose such information to third parties and not use it for any purpose
other than compliance with this Agreement.
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5.5 A Parte divulgadora poderá solicitar a
qualquer tempo, por escrito, a imediata restituição ou destruição de
Informações Confidenciais que tenha revelado em decorrência deste Contrato e
quaisquer respectivas fotocópias, reproduções ou outras cópias. Mediante tal
solicitação por escrito ou quando do término deste Contrato, a Parte
receptora deverá devolver à Parte divulgadora ou destruir quaisquer
Informações Confidenciais e quaisquer respectivas cópias, fotocópias ou
reproduções. Caso sejam destruídas, a Parte receptora deverá certificar à
Parte divulgadora que houve a destruição, mediante entrega de um certificado
assinado por seu representante legal devidamente autorizado.
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5.5 The Disclosing Party may request at any
time in writing for the immediate refund or destruction of Confidential
Information which it has disclosed as a result of this Agreement and any of
its photocopies, reproductions or other copies. Upon such written request or
at the end of this Agreement, the receiving Party shall return to the
Disclosing Party or destroy any Confidential Information and any copies,
photocopies or reproductions. If destroyed, the receiving Party shall certify
to the Disclosing Party that there was destruction by delivering a
certificate signed by its duly authorized legal representative.
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5.6 A Parte Receptora deve tornar a Informação
Confidencial acessível apenas para os seus Representantes que necessitem do
conhecimento de tais dados para fins deste Contrato. A divulgação deve
ocorrer apenas dentro do estritamente necessário e ser precedida de
comunicação, dirigida a cada Representante, acerca da natureza confidencial
da Informação, assim como por compromisso prestado por cada Representante no
sentido de manter a Informação em estrita confidencialidade, sob os mesmos
termos e condições estipulados nesta Cláusula 5. Em todo caso, a Parte
Receptora será responsável por qualquer violação à obrigação de
confidencialidade pelos seus Representantes e deverá tomar as medidas
apropriadas para impedir o uso ou divulgação da Informação Confidencial de
modo não autorizado.
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5.6 The Receiving Party shall make confidential
information accessible only to its Representatives who need the knowledge of
such data for the purposes of this Agreement. Disclosure shall take place
only within the strictly necessary and be preceded by communication,
addressed to each Representative, about the confidential nature of the
Information, as well as by commitment made by each Representative to maintain
the Information in strict confidentiality, under the same terms and
conditions stipulated in this Clause 5. In any event, the Receiving Party
shall be liable for any breach of the obligation of confidentiality by its
Representatives and shall take appropriate measures to prevent the use or
disclosure of confidential information in an unauthorized manner.
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5.7 Se a Parte Receptora for obrigada por lei ou ordem
emitida por juízo ou outra autoridade competente a divulgar qualquer
Informação Confidencial, deverá comunicar imediatamente à Parte Divulgadora
para que essa última possa tomar as medidas apropriadas para evitar a
divulgação. De todo modo, a Parte Receptora deverá divulgar a Informação
Confidencial nos limites estritamente necessários para o cumprimento da
referida lei ou ordem.
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5.7 If the Receiving Party is obliged by
law or order issued by court or other competent authority to disclose any
Confidential Information, it shall immediately notify the Disclosing Party so
that the Latter can take appropriate measures to avoid disclosure. In any
event, the Receiving Party shall disclose confidential information within the
limits strictly necessary for compliance with such law or order.
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5.8 As obrigações estipuladas nessa Cláusula
permanecerão em vigor pelo prazo de 2 (dois) anos após o término, por
qualquer motivo, deste Contrato.
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5.8 The obligations stipulated in this
Clause shall remain in force for a period of two (2) years after the
termination of this Agreement for any reason.
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5.9 As obrigações previstas nesta Cláusula são
adicionais e sem prejuízo de quaisquer outros acordos de confidencialidade
celebrados entre as Partes. Em caso de conflito, as disposições que sejam
mais favoráveis à Parte divulgadora deverão prevalecer.
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5.9 The obligations provided for in this Clause are
additional and without prejudice to any other confidentiality agreements entered
into between the Parties. In the event of a conflict, provisions which are
more favourable to the Disclosing Party shall prevail.
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6. SOFTWARES E
DIREITOS AUTORAIS
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6. SOFTWARE AND COPYRIGHT
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6.1 Todos os materiais, softwares, marcas, códigos,
tecnologias, nomes e programas utilizados pela Contratada (com exceção dos
softwares expressamente identificados como de domínio público) são protegidos
por direitos autorais, sendo de propriedade da Contratada ou de terceiros
independentes, parceiros da Contratada. O presente Contrato não gera direitos
de propriedade e/ou aquisição sob os itens listados acima, pelo Contratante,
nem qualquer outro direito sobre estes conteúdos, sendo certo que qualquer
violação a esses direitos pelo Contratante ou por terceiro será de
responsabilidade do Contratante, implicando a adoção das medidas legais
aplicáveis e na imediata rescisão do presente contrato.
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6.1 All materials, software, trademarks, codes,
technologies, names and programs used by the Contractor (with the exception
of software expressly identified as in the public domain) are protected by
copyright, being the property of the Contractor or independent third parties,
partners of the Contractor. This Agreement does not generate rights of
ownership and/or acquisition under the items listed above by the Contracting
Party or any other right to these contents, and it is certain that any
violation of those rights by the Contracting Party or by a third party shall
be the responsibility of the Contracting Party, implying the adoption of
applicable legal measures and in the immediate termination of this agreement.
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6.2 A Contratante, na forma da lei civil e penal
brasileira, respeitará os direitos autorais dos softwares, hardwares, marcas,
tecnologias, nomes, programas, serviços, sistemas, e tudo o mais que,
porventura, venha a ter acesso através do serviço ora contratado, respondendo
diretamente perante os titulares dos direitos ora referidos pelas perdas,
danos, lucros cessantes, e tudo o mais que porventura lhes venha a causar, em
razão do uso indevido ou ilegal daqueles direitos;
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6.2 The Contracting Party, in the form of
Brazilian civil and criminal law, will respect the copyright of the software,
hardware, trademarks, technologies, names, programs, services, systems, and
everything that may cause them, due to the misuse or illegal use of those
rights;
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7. SEGURANÇA E PROTEÇÃO DOS DADOS | 7. DATA PROTECTION |
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7.1 A Contratada declara e garante o cumprimento da Lei Geral de Proteção de Dados Pessoais, Lei n° 13.709/2018. | 7.1 The Contractor declares and guarantees compliance with the General Law for the Protection of Personal Data, Law No. 13,709/2018. |
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7.2 Os dados da Contratante serão utilizados, ou de outro modo tratados, apenas para prestar à Contratante o serviço online, incluindo os casos cujos fins são compatíveis com a prestação desses serviços. A Contratada não utilizará, nem de outro modo tratará, os dados da Contratante nem as informações derivadas dos mesmos para qualquer publicidade ou outros fins comerciais semelhantes. Tal como entre as partes, o contratante detém todos os direitos, títulos e interesses nos e para os dados da contratante. A Contratada não adquire direitos sobre os dados da contratante, para além dos direitos concedidos pelo contratante à Contratada para fornecer o serviço online à contratante. Este parágrafo não afeta os direitos da Contratada sobre o software ou serviços licenciados pela Contratada à Contratante. | 7.2 The Contracting Party data will be used, or otherwise processed, only to provide the Contracting Party with the online service, including cases whose purposes are compatible with the provision of those services. The Contractor shall not otherwise use the Contracting Party data, or the information derived from it for any advertising or other similar commercial purposes. As between the parties, the Contractor holds all rights, titles and interests in us and for the Contracting Party data. The Contractor does not acquire rights to the Contracting Party data, in addition to the rights granted by the Contracting Party to the Contractor to provide the online service to the Contracting Party. This paragraph does not affect the Rights of the Contractor to the software or services licensed by the Contractor to the Contracting Party. |
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7.3 A Contratada não divulgará os Dados da Contratante fora da Contratada nem das respetivas subsidiárias e afiliadas controladas, exceto (1) se o Contratante o indicar, ou (2) se a lei assim o exigir. | 7.3 The Contractor shall not disclose the Contracting Party Data outside the Contractor or its subsidiaries, except (1) if the Contracting Party indicates it, or (2) if the law so requires. |
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7.4 A menos que seja exigido por lei, os Dados da Contratante ou os Dados Pessoais não serão divulgados pela Contratada. Se a Contratada for contactada por agências de aplicação da lei que pretendam obter os Dados da Contratante ou os Dados Pessoais, a Contratada tentará redirecioná-las para solicitarem esses dados diretamente junto da Contratante. Se for obrigada a divulgar os Dados da Contratante ou os Dados Pessoais a agências de aplicação da lei, a Contratada deverá notificar imediatamente o Contratante e fornecer uma cópia da exigência, a menos que esteja legalmente proibida de o fazer. | 7.4 Unless required by law, the Contracting Party Data or Personal Data will not be disclosed by the Contractor. If the Contractor is contacted by law enforcement agencies wishing to obtain the Contracting Party Data or Personal Data, the Contractor will attempt to redirect them to request this data directly from the Contracting Party. If you are required to disclose the Contracting Party Data or Personal Data to law enforcement agencies, the Contractor shall immediately notify the Contracting Party and provide a copy of the requirement unless it is legally prohibited from doing so. |
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7.5 A Contratada não fornecerá a quaisquer entidades de terceiros: (a) acesso direto, indireto, ilimitado ou sem restrições aos Dados da Contratante ou Dados Pessoais; (b) as chaves de encriptação da plataforma utilizadas para proteger os Dados da Contratante ou os Dados Pessoais, ou a capacidade de violar essa encriptação; ou (c) o acesso aos Dados da Contratante ou Dados Pessoais, caso a Contratada tenha conhecimento de que os dados vão ser utilizados para outros fins que não os descritos no pedido de terceiros. | 7.5 The Contractor will not provide any third party entities: (a) direct, indirect, unlimited or unrestricted access to the Contracting Party Data or Personal Data; (b) the encryption keys of the platform used to protect the Contracting Party Data or Personal Data, or the ability to violate such encryption; or (c) access to the Contracting Party Data or Personal Data, if the Contractor is aware that the data will be used for purposes other than those described in the request of third parties. |
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7.6 No âmbito do disposto supra, a Contratada poderá fornecer as informações de contato básicas da Contratante a terceiros. | 7.6 According to the above provisions, the Contractor may provide the Contracting Party basic contact information to third parties. |
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7.7 A duração do tratamento de dados estará limitada à duração do direito da Contratante a utilizar o Serviço Online e até todos os Dados Pessoais serem eliminados ou devolvidos em conformidade com as instruções da Contratante; | 7.7 The duration of data processing will be limited to the duration of the Contracting Party right to use the Online Service and until all Personal Data is deleted or returned in accordance with the Instructions OF the Contracting Party; |
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7.8 A natureza e a finalidade do tratamento de dados serão a disponibilização do Serviço Online que decorra do contrato de licenciamento em volume da Contratante, e que, salvo disposição em contrário na lei, os dados pessoais não serão retidos, utilizados, vendidos ou divulgados para qualquer outro fim; | 7.8 The nature and purpose of the processing of data will be the provision of the Online Service arising from the Contracting Party volume licensing agreement, and which, unless otherwise provided by law, personal data will not be retained, used, sold or disclosed for any other purpose; |
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7.9 A Contratada implementará e manterá as medidas técnicas
e organizacionais adequadas à proteção dos Dados da Contratante e dos Dados
Pessoais. Estas medidas serão estabelecidas numa Política de Segurança da Contratada.
A Contratada disponibilizará essa política à Contratante, a par de descrições
dos controles de segurança implementados para o Serviço Online, bem como
outras informações justificadamente solicitadas pelo Contratante
relativamente às práticas e políticas de segurança da Contratada.
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7.9 The Contractor will implement and maintain the appropriate technical and organizational measures for the protection of the Contracting Party Data and Personal Data. These measures will be established in the Contractor's Security Policy. The Contractor shall make this policy available to the Contracting Party, along with descriptions of the security controls and services implemented for the Online Service, as well as other information justifiably requested by the Contracting Party regarding the employee's security practices and policies. |
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7.10 É da exclusiva responsabilidade da Contratante indicar de forma independente se as medidas técnicas e organizacionais para um Serviço Online cumprem os requisitos da Contratante, incluindo quaisquer obrigações em matéria de segurança ao abrigo da Lei Geral de Proteção de Dados ou outras leis e regulamentos de proteção de dados aplicáveis. O Contratante reconhece e concorda que (tendo em conta as técnicas mais avançadas, os custos de aplicação e a natureza, o âmbito, o contexto e as finalidades do tratamento dos respectivos Dados Pessoais, bem como os riscos para os indivíduos) as práticas e políticas de segurança implementadas e mantidas pela Contratada proporcionam um nível de segurança adequado ao risco relativo aos respetivos Dados Pessoais. É da inteira responsabilidade da Contratante a implementação e manutenção das proteções da privacidade e medidas de segurança em componentes que o Contratante fornece ou controla (tais como dispositivos inscritos com a Contratada ou numa máquina virtual ou aplicação de servidor utilizado pela Contratante). | 7.10 It is the sole responsibility of the Contracting Party to independently indicate whether the technical and organizational measures for an Online Service comply with the requirements of the Contracting Party, including any security obligations under the General Data Protection Act or other applicable data protection laws and regulations. The Contracting Party acknowledges and agrees that (taking into account the most advanced techniques, application costs and the nature, scope, context and purposes of the processing of the requirements of personal data, as well as the risks to individuals) the security practices and policies implemented and maintained by the Contractor provide an adequate level of security to the risk relating to their Personal Data. It is the Contracting Party entire responsibility to implement and maintain privacy protections and security measures on components that the Contracting Party provides or controls (such as devices registered with the Contractor or on a virtual machine or server application used by the Contracting Party). |
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7.11 Se a Contratada tomar conhecimento de uma violação de segurança que resulte na destruição, perda, alteração, divulgação não autorizada ou acesso acidental ou ilícito aos Dados da Contratante ou aos Dados Pessoais durante o respetivo tratamento pela Contratada (individualmente, um "Incidente de Segurança"), a Contratada irá de imediato e sem demora injustificada (1) notificar o Contratante do Incidente de Segurança; (2) investigar o Incidente de Segurança e fornecer à Contratante informações detalhadas sobre o Incidente de Segurança; (3) tomar as medidas razoáveis para mitigar os efeitos e para minimizar quaisquer danos resultantes do Incidente de Segurança. |
7.11 If the Contractor becomes aware of a security breach resulting in
the destruction, loss, alteration, unauthorized disclosure or accidental or
unlawful access to the Contracting Party Data or personal data during its
processing by the Contractor (individually, a "Security Incident"),
the Contractor will immediately and without undue delay (1) notify the Contracting
Party of the Security Incident; (2) investigate the Security Incident and
provide the Contracting Party with detailed information on the Security
Incident; (3) take reasonable steps to mitigate the effects and to minimize
any damage resulting from the Safety Incident.
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7.12 O Contratante deverá notificar a Contratada imediatamente de qualquer possível utilização indevida das suas contas ou credenciais de autenticação ou de qualquer incidente de segurança relativo a um Serviço Online. |
7.12 The Contracting Party shall immediately notify the Contractor of any
possible misuse of his accounts or authentication credentials or any security
incident stemming from an Online Service.
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7.13 Para os Serviços Online, a Contratada armazenará os Dados da Contratante ativos e inativos em determinadas áreas geográficas principais de acordo com o servidor contratado, devendo sempre ser comunicada mudança de localização e liberar total acesso aos dados; | 7.13 For the Online Services, the Contractor will store the Active and Inactive Contracting Party data in certain key geographic areas according to the contracted server, and must always be communicated location change and release full access to the data; |
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7.14 Durante o Prazo deste Contrato, o Contratante terá sempre a capacidade de acesso, extração e eliminação dos Dados da Contratante armazenados em cada Serviço Online. | 7.14 During the Term of this Agreement, the Contracting Party will always have the ability to access, extract and delete the Contracting Party Data stored on each Online Service. |
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7.15 A Contratada irá conservar os Dados da Contratante que permanecem armazenados nos Serviços Online pelos prazos estabelecidos na Lei Geral de Proteção de Dados, mesmo após o término deste Contrato. | 7.15 The Contractor will retain the Contracting Party Data that remains stored in the Online Services for the time set forth in the general data protection act, even if after the termination of this Agreement. |
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8. PREÇO E CONDIÇÕES DE PAGAMENTO | 8. PRICE AND PAYMENT CONDITIONS |
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8.1.
Em contrapartida aos Serviços prestados pela Contratada
nos termos do presente Contrato, o Contratante concorda em pagar mensalmente o
valor de R$ [•], e ainda um
percentual de performance equivalente a [•]% da receita mensal efetivamente coletada e referente ao Projeto,
pela Contratante ("Preço").
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8.1.
In return for the and Services provided by the Contractor
pursuant to this Agreement, the Contracting
Party agrees to pay the monthly
amount of BRL [•], and a performance percentage
equivalent to [•]% of the monthly revenue actually collected and related to
the Project, by the Contracting Party ("Price").
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8.2.
O Preço a ser pagos pela Contratante serão
reajustados anualmente pelo Índice IGP-M, tendo como base a Data Efetiva.
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8.2.
The Price to be paid by the Contracting
Party will be adjusted annually by the IGP-M Index, based on the
Effective Date.
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8.3.
As Partes concordam que o Preço já contempla
todos os tributos e demais encargos a ele inerentes, não havendo, portanto,
incidências tributárias e demais encargos similares a serem pagos pelo Contratante.
Todas as responsabilidades decorrentes de quaisquer tributos, existentes ou
que venham a ser alterados ou criados, correrão por conta exclusiva da Contratada.
As Partes efetuarão a retenção e o recolhimento dos tributos que, de acordo
com a legislação em vigor, sejam a elas atribuídas à responsabilidade por tal
tarefa.
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8.3.
The Parties agree that the Price already include all
taxes and other charges inherent to it, and there are therefore no tax
implications and other similar charges to be paid by the Contracting Party. All liabilities arising from
any taxes, existing or that may be changed or created, will be borne by the
exclusive account of the Contractor. The Parties shall withhold and collect
taxes which, in accordance with the legislation in force, are attributed to
them to the responsibility for such a task.
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8.4.
A Contratada emitirá nota fiscal/fatura
relativa aos Serviços mensalmente e enviará à Contratante após a apresentação
do relatório de Serviços.
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8.4.
The Contractor will issue invoice for the Services
monthly and send to the Contracting Party after
the presentation of the Service report.
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8.5.1 O atraso ou apresentação de forma irregular da
fatura pela Contratada, não importará no pagamento, pelo Contratante, de
qualquer acréscimo, variação ou correção do Preço.
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8.5.1 The delay or presentation irregularly of the invoice
by the Contractor shall not result in the payment, by the Contracting Party,
of any additional amount, variation or correction of the Price.
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8.5.
O pagamento da Remuneração será efetuado em até 10 (dez) dias
úteis, a contar da emissão da nota fiscal/fatura, por meio de TED -
Transferência Eletrônica Disponível em conta bancária pertencente à Contratada.
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8.5.
The payment of the Price will be made within 10
(ten) business days, from the issuance of the invoice, through TED -
Electronic Transfer Available in bank account belonging to the Contractor.
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8.6.
A Contratada tem a
faculdade de cobrar do Contratante, em caso de atraso por culpa exclusiva
deste, multa correspondente a 2% (dois por cento) e juros de mora de 2% (dois por cento) ao mês,
calculados sobre a totalidade do débito vencido e não pago.
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8.6.
The Contractor has the option to charge the Contracting
Party in case of delay due to exclusive
fault of the Contracting Party, fine corresponding
to 2% (two percent) and late interest of 2% (two percent) per month,
calculated on the total debt due and unpaid.
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9. RESCISÃO | 9. TERMINATION |
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9.1. As Partes
poderão rescindir esse Contrato, de pleno direito, caso ocorram quaisquer dos
seguintes eventos:
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9.1.
The Parties may terminate this Agreement in full
right if any of the following events occur:
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a)
decurso do Prazo de vigência sem que haja renovação do Prazo;
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a)
expiration of the Term without renewal;
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b) no caso de qualquer das Partes sofrer liquidação,
dissolução voluntária ou compulsória, tornar-se insolvente ou falida,
requerer ou for objeto de qualquer tipo de concurso de credores ou
recuperação judicial;
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b)
in the event that either Party is liquidated,
voluntarily or compulsory dissolved, becomes insolvent
or bankrupt, requires or is the subject of any type of creditors' tenderers
or judicial recovery;
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c)
ajuizamento de uma Parte a outra de qualquer
ação, execução ou medida judicial, de qualquer natureza, que possa afetar os
direitos e obrigações deste Contrato;
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c) filing of
any action, enforcement or judicial action of any nature that may affect the
rights and obligations of this Agreement;
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d)
caso qualquer das Partes venha a praticar
qualquer ato lesivo à administração pública, nos termos deste Contrato e da Lei n° 12.846, de 1° de agosto de 2013, em
qualquer um dos seus aspectos, ou se qualquer das Partes tiver motivos para
acreditar que tal ato lesivo tenha sido ou tem sido realizado. A rescisão
imediata com base nesse item não exime a Parte infratora da obrigação de
reparar integralmente eventual dano causado e da aplicação da multa
compensatória prevista neste Contrato.
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d) if either
Party is to engage in any act that is harmful to the public administration
under this Agreement and Law No. 12,846 of 1 August 2013in any of its
aspects, or if either Party has reason to believe that such a harmful act has
been or has been carried out. Immediate termination on the basis of that item
does not exempt the infringing Party from the obligation to fully repair any
damage caused and the application of the compensatory fine provided for in
this Agreement.
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9.2.
A Contratada poderá
rescindir esse Contrato caso ocorram quaisquer dos seguintes eventos:
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9.2.
The Contractor may terminate this Agreement if
any of the following events occur:
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a)
atraso no pagamento pela Contratante superior a 60
(sessenta) dias contados a partir do vencimento do débito;
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a) late payment by
the Contracting Party with more than 60 (sixty) days counted from the
maturity of the debit;
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b)
constatação de práticas pela Contratante expressamente
vedadas.
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b) discovery of
practices by the Contracting Party expressly prohibited.
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9.2.1
Em caso de extinção do Contrato com base nas alíneas "a" e "b" da cláusula 9.2
acima, fica resguardado à Contratada o direito de aplicar as multas
descritas na Cláusula 9.3.1, além das indenizações previstas neste Contrato,
se aplicáveis.
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9.2.1
In the event of termination of the Agreement on the basis of paragraphs
"a" and "b" of clause 9.2 above, the Contractor has right
to apply the fines described in Clause 9.3.1, in
addition to the indemnifications specified in this Agreement, if applicable.
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9.3. As duas
Partes poderão, ainda, rescindir o presente Contrato, sem causa, mediante
prévia notificação, por escrito, à outra Parta, com pelo menos 6 (seis) meses
de antecedência.
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9.3.
Both Parties may
also terminate this Agreement, without cause, by prior notice, in writing, to
the other Party, with at least six (6) months in advance.
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9.3.1
Se a rescisão ocorrer, a Parta que solicitar a rescisão
deverá realizar o pagamento equivalente a 6 (seis) meses do último valor pago
ou valor previsto de faturamento no mês da rescisão, o que for maior.
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9.3.1 If the termination occurs the Party that requests the termination must make a
payment equivalent to 6 (six) months of the last amount paid or expected
amount of billing in the month of termination, whichever is greater.
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9.4.
Em qualquer uma das
hipóteses de rescisão previstas neste Contrato, a Contratada se compromete a
devolver ao Contratante, no prazo acordado entre as Partes, todos os documentos físicos e/ou
digitais que estiverem sob a sua posse ou destruí-los de forma segura e
ecologicamente correta, conforme acordado com o Contratante.
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9.4.
In any event of termination
provided for in this Agreement, the Contractor undertakes to return to the Contracting Party within the agreed time limit
between the Parties all physical and/or digital
documents that are under their possession or destroy them safely, as agreed
with the Contracting Party.
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10. DISPOSIÇÕES GERAIS |
10. GENERAL
PROVISIONS
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10.1.
A Contratante não tem poderes para supervisionar,
dar instruções ou de outro modo regulamentar as operações da Contratada ou de
seus empregados ou subcontratadas. ficando, no entanto, resguardado à Contratante
o direito de somente permitir o ingresso de funcionários da Contratada ou de
terceiros quando estes estiverem devidamente credenciados e identificados, o
que deverá ocorrer exclusivamente por parte da Contratada.
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10.1.
The Contracting Party has no powers to supervise, give
instructions or otherwise regulate the operations of the Contractor or its
employees or subcontractors. However, the Contracting Party has the right to
only allow the Contractor's employees or third parties to enter when they are
duly accredited and identified, which shall occur exclusively by the Contractor.
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10.2.
As obrigações mútuas ora ajustadas
suspender-se-ão quando, na
execução do presente Contrato, ocorrerem circunstâncias alheias ao controle,
à ação e à vontade das Partes, causadas por motivos de força maior ou caso
fortuito, conforme previsto no Art. 393 do Código Civil Brasileiro e desde
que sua ocorrência seja alegada e comprovada em 72 (setenta e duas) horas.
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10.2.
The mutual obligations adjusted hereafter shall be
suspended when, in the performance of this Agreement, circumstances are
unrelated to the control, action and will of the Parties, caused by reasons
of force majeure or fortuitous case, as provided for in Art. 393 of the
Brazilian Civil Code and provided that its occurrence is alleged and proven
in 72 (seventy-two) hours.
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10.3.
As Partes se obrigam a comunicar eventuais mudanças de endereços de recebimento das
correspondências, sob pena de considerarem-se devidamente entregues aquelas
enviadas aos endereços constantes no preâmbulo deste Contrato.
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10.3.
The Parties undertake to report any changes in the
addresses of receipt of the correspondence, otherwise those sent to the
addresses contained in the preamble to this Agreement are duly deemed to be
delivered.
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10.4.
Exceto conforme autorizado neste Contrato,
nenhum termo ou condição ora estipulado deve ser interpretado de forma a
pretender-se criar entre as Partes qualquer relação de "joint venture", relação de parceria, sociedade em
conta de participação, representação comercial, mandato, responsabilidade
solidária, sendo cada uma única, integral e exclusivamente responsável por
seus atos e obrigações e pelo cumprimento da respectiva legislação aplicável
a sua atividade e aos Serviços.
|
10.4.
Except as authorized in this Agreement, no term or
condition stipulated herein shall be construed in such a way as to intend to
create between the Parties any joint venture relationship, partnership
relationship, company in participation account, representation commercial,
mandate, joint responsibility, each being solely, fully and exclusively
responsible for its acts and obligations and compliance with their applicable
legislation to its activity and to the Services.
|
|
|
10.5.
The tolerance of the Parties does not imply the waiver,
forgiveness, renovation or amendment of the agreed-on in
this instrument.
|
|
|
|
10.6.
Este Contrato não poderá ser alterado de
nenhuma forma exceto mediante termo aditivo assinado pelas Partes.
|
10.6.
This Agreement may not be amended in any way except by
an additive term signed by the Parties.
|
|
|
10.7.
Caso qualquer disposição contida neste
Contrato seja posteriormente considerada nula, ilícita ou inexequível, a
exequibilidade das disposições remanescentes não ficará afetada ou
prejudicada. A disposição considerada nula, ilícita ou inexequível será,
conforme o disposto em lei, substituída por outra, válida, lícita e/ou
exequível, que produzirá efeitos do modo mais próximo possível da disposição
que substituir.
|
10.7.
If any provision contained in this Agreement is
subsequently deemed void, unlawful or unenforceable, the enforceability of
the remaining provisions shall not be affected or impaired. The provision
considered null, unlawful or unenforceable shall, as provided by law,
replaced by another, valid, lawful and/or enforceable, which will take effect
as closely as possible as possible to the provision it replaces.
|
|
|
10.8.
A Contratada não poderá utilizar ou permitir o
uso por sua equipe de trabalho e/ou subcontratadas, de qualquer sinal
distintivo da Contratante, a exemplo de suas marcas, nomes de domínios, nomes
empresariais ou qualquer direito de propriedade intelectual, sem autorização
prévia e escrita da Contratante.
|
10.8.
The Contractor may not use or allow use by its work team
and/or subcontractors, of any distinctive sign of the Contracting Party, such
as its trademarks, domain names, business names or any intellectual property
right, without prior written authorization from the Contracting Party.
|
|
|
10.9.
Exceto conforme estabelecido nesta Cláusula,
nenhuma das Partes poderá, nem terá poderes para, ceder este Contrato sem o
consentimento prévio por escrito da outra Parte, ficando excetuado o direito
do Contratante de ceder seus direitos e obrigações nos termos deste Contrato
a qualquer das empresas pertencentes a seu conglomerado econômico, sejam
atuais ou futuras.
|
10.9.
Except as set forth in this Clause, neither Party may
nor shall you have the power to assign this Agreement without the prior
written consent of the other Party, except for the right of the Contracting
Party to assign its rights and obligations under this Agreement to any of the
undertakings belonging to its economic conglomerate, whether current or
future.
|
|
|
10.10.
Durante a negociação e a execução deste
contrato, nenhuma das partes ofereceu ou poderá oferecer, dar ou se
comprometer a dar a quem quer que seja, ou aceitar ou se comprometer a
aceitar de quem quer que seja, tanto por conta própria quanto através de outrem,
qualquer pagamento, doação, compensação, vantagens financeiras ou não
financeiras ou benefícios de qualquer espécie que constituam prática ilegal
ou de corrupção sob as leis de qualquer país, especialmente sob a Lei Federal
n° 12.846/13, seja de forma direta ou indireta quanto ao objeto deste
contrato, ou de outra forma que não relacionada a este contrato, devendo
garantir, ainda, que seus prepostos e colaboradores ajam da mesma forma. O
descumprimento dessa cláusula por quaisquer das partes será considerada como
hipótese de resolução do contrato, sem prejuízo da aplicação da cláusula de
indenização.
|
10.10.
During the negotiation and execution of this contract,
neither party has offered or may offer, give or commit to giving anyone, or
accept or undertake to accept from anyone, either on their own and through
others, any payment, donation, compensation, financial or non-financial
advantages or benefits of any kind that constitute illegal practice or
corruption under the laws of any country, especially under Federal Law No.
12,846/13, either directly or indirectly subject matter of this contract, or
otherwise not related to this contract, and must also ensure that its
prepositions and employees act in the same way. Failure to comply with this
clause by any of the parties shall be considered as a possibility of
resolving the contract, without prejudice to the application of the
indemnification clause.
|
|
|
10.11.
O presente Contrato e as disputas que dele
derivarem serão regidas pelas leis da República Federativa do Brasil.
|
10.11.
This Contract and the disputes that derive from it will
be governed by the laws of the Federative Republic of Brazil.
|
|
|
10.12.
No caso de qualquer reivindicação ou
controvérsia decorrente do presente Contrato, a ele relacionado ou resultante
de sua violação, as Partes envidarão seus melhores esforços para solucionar a
questão de forma amigável.
|
10.12.
In the event of any claim or controversy arising out of
this Agreement, related to it or resulting from its breach, the Parties shall
make their best efforts to resolve the matter in a friendly manner.
|
|
|
10.13.
As Partes elegem o foro de São Paulo, Estado de São
Paulo, como único competente para dirimir quaisquer
questões oriundas do presente Contrato, com a exclusão de qualquer outro, por
mais privilegiado que seja
|
10.13.
The Parties shall elect the forum of São Paulo, State São
Paulo, as the sole competent to resolve any issues arising from this
Agreement, excluding any other, however privileged that it is
|
|
|
E,
ESTANDO ASSIM JUSTAS E Contratadas, celebram as Partes o presente Contrato em
2 (duas) vias de igual teor e forma, tudo para um só efeito, na presença das
testemunhas abaixo assinadas e identificadas.
|
And,
THUS JUST AND CONTRACTED, the Parties enter into this Agreement in 2 (two)
copies of equal content and form, all for one purpose, in the presence of the
witnesses signed and identified below.
|
|
|
Rio de Janeiro, [•] de dezembro de 2023.
|
Rio de Janeiro, December [•], 2023.
|
|
Price to Public
|
Underwriting Discount and Commissions
|
Proceeds to Issuer
|
Proceeds to Other Persons
|
Per Each Class A Investor Share:
|
$0.90
|
-
|
$0.90
|
-
|
Total
|
$50,000,000
|
-
|
$50,000,000
|
-
|
Section
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·
|
our ability to
effectively deploy the proceeds raised in our Offering;
|
|
|
|
|
·
|
ability to attract and
retain Investors to the Platform;
|
|
|
|
|
·
|
risks associated
with breaches of our data security;
|
|
|
|
|
·
|
public health
crises, pandemics and epidemics, such as those caused by new strains of
viruses such as H5N1 (avian flu), severe acute respiratory syndrome (SARS)
and, most recently, the novel coronavirus (COVID-19);
|
|
|
|
|
·
|
climate change
and natural disasters that could adversely affect our Projects and our
business;
|
|
|
|
|
·
|
changes in economic
conditions generally and the renewable energy and securities markets
specifically;
|
|
|
|
|
·
|
limited ability to
dispose of assets because of the relative illiquidity of renewable energy
Projects;
|
|
|
|
|
·
|
our failure to
obtain necessary outside financing;
|
|
|
|
|
·
|
risks associated with
derivatives or hedging activity;
|
|
|
|
|
·
|
intense competition in
Brazilian renewable energy markets that may limit our ability to attract or
retain energy offtakers;
|
|
|
|
|
·
|
defaults under Supporting
Contracts (see "Summary of Supporting Contracts");
|
|
|
|
|
·
|
increased interest
rates and operating costs;
|
|
|
|
|
·
|
the risk associated
with potential breach or expiration of a ground lease, if any;
|
|
|
|
|
·
|
our failure to
successfully construct, interconnect, operate or maintain the Projects;
|
|
·
|
exposure to liability
relating to environmental and health and safety matters;
|
|
|
|
|
·
|
the failure of
Projects to yield anticipated results;
|
|
|
|
|
·
|
our level of debt and
the terms and limitations imposed on us by our debt agreements;
|
|
|
|
|
·
|
our ability to retain
our executive officers and other key personnel of our Manager;
|
|
|
|
|
·
|
the ability of our
Manager to source, originate and service our loans;
|
|
|
|
|
·
|
the ability for our
engineering, procurement and construction contractors and equipment
manufacturers to honor their contracts including warranties and guarantees;
|
|
|
|
|
·
|
regulatory changes
impacting our business or our assets (including changes to the laws governing
the taxation of corporations and SEC guidance related to Regulation A, or the
Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"));
|
|
|
|
|
·
|
changes in business
conditions and the market value of our Projects, including changes in
renewable energy policy, interest rates, prepayment risk, operator or
borrower defaults or bankruptcy, and generally the increased risk of loss if
our investments fail to perform as expected;
|
|
|
|
|
·
|
our ability to
implement effective conflicts of interest policies and procedures among the
various renewable energy investment opportunities sponsored by our Manager;
|
|
|
|
|
·
|
our compliance with
applicable local, state and federal laws, including the Investment Advisers
Act of 1940, as amended (the "Advisers Act"), the Investment Company
Act of 1940, as amended, and other laws; and
|
|
|
|
|
·
|
changes to U.S.
generally accepted accounting principles ("U.S. GAAP").
|
|
·
|
A 7% per year preferred return; plus
|
|
|
|
|
·
|
70% of any additional cash flow.
|
|
·
|
Historically, the markets of developing countries have
been more volatile than the markets of developed countries.
|
|
|
|
|
·
|
Developing countries may have less developed legal and
accounting systems. The legal systems of developing countries might be less
reliable in terms of enforcing contracts.
|
|
|
|
|
·
|
The governments of developing countries may be more
unstable and more likely to impose capital controls, nationalize a company or
industry, place restrictions on foreign ownership and on withdrawing money
from the country, and/or impose punitive taxes that could adversely affect
prices.
|
|
|
|
|
·
|
The economies of developing countries may be dependent on
relatively few industries that are more susceptible to local and global
changes.
|
|
|
|
|
·
|
Brazil faces security challenges, and the Projects can be
vulnerable to theft, vandalism, and damage. Ensuring robust security measures
is essential to mitigate these risks and protect project assets. If we are
unable to properly secure the Projects, the Projects could be negatively affected
by crime, which could reduce our net income.
|
|
|
|
|
·
|
Some areas in Brazil are influenced or controlled by local
non-governmental groups called "militias". Local militias may impact the
security and operations of the Projects. Investors should carefully assess
the presence of militias in Project locations and consider how this could
affect our operations.
|
|
|
|
|
·
|
Development challenges, such as land acquisition,
permitting delays, and poor infrastructure, can hinder progress and increase
costs of the Projects. Navigating these obstacles is crucial to the
successful development of our Projects. Ineffective land acquisition
practices, slow reaction to permitting delays or selecting sites with poor
infrastructure can negatively affect the financial performance of the
Projects and the Company.
|
|
·
|
Any claims arising from your purchase of Class A Investor
Shares must be brought in the state or federal courts located in Wilmington,
Delaware, which might not be convenient to you.
|
|
|
|
|
·
|
You would not be entitled to recover any lost profits or
special, consequential, or punitive damages. However, that limitation does
not apply to claims arising under Federal securities laws.
|
|
·
|
Our Manager and its officers are not required to devote
all of their time and effort to the Company and are only required to devote
such time to our affairs as their duties require.
|
|
|
|
|
·
|
Our Manager will receive fees based, in part, on the
amount of cash flow the Projects generate. The Manager might, therefore, have
an incentive to raise more capital, and invest in more Projects, than they
would otherwise, leading them to invest in borderline Projects.
|
|
|
|
|
·
|
The entire business of the Manager consists of investing
in solar projects, including solar projects in Brazil. There could be
conflicts between Projects they decide to invest in through the Company and
projects they invest in through other vehicles.
|
|
·
|
There will be no established market for the Class A
Investor Shares, meaning the Investor could have a hard time finding a buyer
for its shares.
|
|
|
|
|
·
|
Although the Company offers a limited right of redemption,
there is no guarantee that an Investor who wants to sell his, her, or its
Class A Investor will be able to do so.
|
|
|
|
|
·
|
Class A Investor Shares may not be transferred without the
Company's consent, which we can withhold in our sole discretion. The Company
also has a right of first refusal to purchase any Class A Investor Shares
proposed to be transferred.
|
Sources and Uses
|
Amount
|
Sources
|
|
Amount Previously Raised (pursuant to Regulation A)
|
$8,224,365
|
Maximum Amount to be Raise from
this Offering
|
$50,000,000
|
Proceeds from the Sale of Projects
|
$238,752
|
Interest from short term
investments
|
$17,652
|
Loans
|
$4,553,001
|
Total
|
$63,033,770
|
|
|
Uses
|
|
Cash on Hand and Equivalents
|
$1,472,737
|
Start-up Costs
|
$91,633
|
Loan Interest
|
$1,047,393
|
Company Operating Expenses
|
$582,078
|
Loan to a related entity
|
$120,607
|
Distributions to Investors
|
$689,138
|
Current Investments Projects
|
$9,030,185
|
Anticipated Investments in New
Projects
|
$50,000,000
|
Total
|
$63,033,770
|
|
·
|
Yield and Cashflow: Many investment funds look for
reliable cashflows generating a targeted yield. With both revenue and most
expenses locked in by contract, the cash flow from any Project or portfolio
of Projects should be predictable and consistent for as long as 25 years.
|
|
|
|
|
·
|
Project Consolidation: Some of the Projects will be
too small or unusual for institutional buyers to consider purchasing on their
own. The Company could package these Projects into a larger, more
standardized portfolio that will be attractive to these larger, more
efficiency-focused players. In the aggregate, a portfolio of Projects might
be expected to generate 50+ megawatts of power with relatively uniform power
contracts, engineering standards, and underwriting criteria. A portfolio of
that size can bear the fees and diligence associated with an
institutional-grade transaction or securitization.
|
|
|
|
|
·
|
Cash Flow Stabilization: When the Company buys a
Project, it will typically share the construction risk with the Development
Company that originated the Project. Larger investors are generally unwilling
to take on construction risk and will invest only in projects that are
already generating positive cash flow, referred to as "stabilization". Thus,
the Company may acquire Projects before stabilization and sell them after
stabilization. Institutional investor interest in the Portfolio should
increase as the portfolio stabilizes.
|
|
|
|
|
·
|
Increase in Residual Value: When the Company
acquires a Project, the appraisal is based solely on the cash flows projected
from executed Project Rental Contracts, with no residual value assumed for
the Project. There is a high probability that a Project will continue to
create revenue after its initial contract period in the form of a contract
extension, repositioning, or sale of energy into the merchant energy markets.
This creates a sort of built-in "found value" for our Projects, which may be
realized upon sale.
|
|
·
|
Even with the relatively low rates of economic growth
Brazil has experienced in recent years, as compared to other developing
countries, its energy needs continue to grow as the country modernizes and increases
its use of electronic devices.
|
|
|
|
|
·
|
Brazil has relied extensively on electricity generated
from hydropower. However, hydroelectricity fluctuates with the seasons and
most large hydroelectric projects have already been developed, so new
projects come online at more expensive pricing.
|
|
|
|
|
·
|
Previous governments subsidized energy costs for decades. Recent
changes in government have removed these subsidies, so the true cost of
energy is now being passed through to end-users.
|
|
·
|
Power Capacity: The Brazilian market for
utility-size solar projects (10+ megawatts) is efficient and competitive,
with many large players. We intend to focus on the smaller market, with
projects of between one-hundred kilowatts and five megawatts. The capacity of
a solar project is determined in accordance with "standard testing
conditions" established by certain laboratories worldwide. The actual output
of a solar project fluctuates with solar irradiance.
|
|
|
|
|
·
|
Subscribers: The Subscribers for a given Project
will be private households and small businesses, organized into a single
entity, typically taking the form of a limitada managed by the Company,
as a consortium for commercial and residential Subscribers ("Consortium").
For a one-megawatt Project, we would expect the Consortium to include, on
average, about 2,000 Subscribers. Subscribers may opt out of a Consortium at
any time and will be replaced by other Subscribers from a waiting list.
|
|
|
|
|
·
|
Project Rentals: A SPE will rent each Project to a Consortium
so that, in form, Subscribers are generating their own electricity, while the
rent paid by the Consortium is effectively a payment for their use of the
Project. Typically, a Project Rental Contract will have a term of 20 years.
|
|
·
|
Operation and Maintenance: When the SPE rents a
Project to a Consortium, the Consortium will simultaneously hire the SPE to
operate and maintain the Project on a turnkey basis, and the SPE will hire a
third party to perform some or all of those services.
|
|
|
|
|
·
|
Locations: We select locations based primarily on:
|
|
|
|
|
|
o Brazilian states which have the most advantageous tax
and energy economics;
|
|
|
|
|
|
o Efficient access for maintenance;
|
|
|
|
|
|
o Interconnection points with the electricity grid;
|
|
|
|
|
|
o Solar irradiance; and
|
|
|
|
|
|
o Acceptable security risks. The Company tries to avoid
selecting Projects in locations with high crime areas which could expose the
project to an increased risk of theft and vandalism.
|
|
|
|
|
·
|
Right to Land: Typically, we lease the land where
the Projects are built, pursuant to a lease that continues for at least the
duration of the Project Rental Contract with our Subscriber and gives us, as
tenant, the right to extend.
|
|
·
|
Connecting Projects to the Local Electric Grid: The
Projects will not be connected directly to Subscribers. Instead, they will be
connected to the local electric grid. As a member of a consortium, which has
rights to the Project via the Project Rental Contract, Subscribers will be
entitled to a credit on their electric bill.
|
|
|
|
|
·
|
Our Solar Equipment: We use the equipment standardly
used across the solar industry: solar panels, which turn sunlight into
electrical energy; and inverters, which convert direct current from panels to
alternating current used in homes and businesses. We buy our equipment only
from certain manufacturers known for high quality and financial strength.
|
|
|
|
|
·
|
Compliance with Brazilian Laws Applicable to Solar
Projects: Each Project will comply with Normative Resolution ANEEL n°
482/2012 ("Ren 482"), the primary law governing community solar
electricity systems in Brazil.
|
|
|
|
|
·
|
When the Company Invests in Projects: Normally, the
Company will not invest in a Project until certain conditions are satisfied.
Among these:
|
|
|
|
|
|
o The SPE has executed contracts for the lease of the
underlying land, for engineering, and for the construction of the Project,
for the rental of the Project to a consortium, a full list of committed
Subscribers and for operations and maintenance;
|
|
|
|
|
|
o The electric utility has confirmed that the Project
can connect with the electric grid;
|
|
|
|
|
|
o All environmental and installation permits have been
obtained;
|
|
|
|
|
|
o We have executed installation service agreements (e.g.,
for all civil and site work, electrical installation, installation of
racking, etc.); and
|
|
|
|
|
|
o We have obtained insurance.
|
Revenue Recognition
|
Amount
|
Subscriber
Payments
|
$40,051
|
Purchase and Sale Agreement for
Environmental Commodities
|
$0
|
Sale
of Projects
|
$0
|
Procedure
|
Example
|
Step 1 - Identify the Contract
|
Project Rental Contract
|
Step 2 - Identify the Performance Obligations
|
Delivery of electricity from solar plant
|
Step 3 - Determine the
Transaction Price
|
Amount contractually signed with
Subscriber
|
Step 4 - Allocate the Transaction Price
|
Obligation is satisfied by transferring control of the
electricity produced to the Subscriber
|
Step 5 - Recognize Revenue
|
At a point in time when the Subscriber
is invoiced
|
|
·
|
banking fees;
|
|
|
|
|
·
|
legal expenses;
|
|
|
|
|
·
|
payments to the Manager for fees and carried interest;
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|
|
|
|
·
|
fees to wire money from Brazil to the U.S.;
|
|
|
|
|
·
|
payments to U.S. states to comply with their respective
securities law ("Blue Sky Laws");
|
|
|
|
|
·
|
debt service and transactional payments (where we borrow
money at the Company level);
|
|
|
|
|
·
|
annual financial audit expenses;
|
|
|
|
|
·
|
depreciation;
|
|
|
|
|
·
|
U.S. and Brazilian taxes.
|
|
·
|
payments to third parties to operate and maintain the
Projects;
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|
|
|
|
·
|
lease payments to landowners;
|
|
|
|
|
·
|
debt service and transactional payments (where we borrow
money at the Project level);
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|
|
|
|
·
|
utilities;
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|
|
|
|
·
|
on-site security;
|
|
|
|
|
·
|
payments to the third party that manages Subscriber electric
bill credits;
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|
|
|
|
·
|
Brazilian taxes;
|
|
|
|
|
·
|
banking fees;
|
|
|
|
|
·
|
depreciation;
|
|
|
|
|
·
|
project insurance.
|
|
·
|
A corporate income tax equal to (i) 15% of the SPE's
taxable income, plus (ii) 10% of the SPE's taxable income per month in excess
of R$20,000.
|
|
|
|
|
·
|
A social contribution tax equal to 9% of the taxable
income of the SPE.
|
|
|
|
|
·
|
A corporate sales tax equal to 1.65% of the SPE's gross
sales revenue.
|
|
|
|
|
·
|
A social security tax equal to 7.6% of the SPE's gross
sales revenue.
|
|
|
|
|
·
|
A tax on some purchased goods (like a sales tax) imposed
at 10%.
|
|
·
|
Land Leases: The SPE will lease (rather than buy)
the land where the Project is located, pursuant to a contract we refer to as
a "Land Lease."
|
|
|
|
|
·
|
Project Rental Contracts: In all cases, the SPEs
will rent the Projects to a Consortium of Subscribers (so that the
Subscribers are, in form, generating their own solar power) pursuant to a
contract we refer to as a "Project Rental Contract."
|
|
|
|
|
·
|
Operations and Maintenance Contracts: As the SPE
rents the Project to a Consortium of Subscribers pursuant to a Project Rental
Contract, the Consortium simultaneously hires the SPE to operate and maintain
the Project pursuant to a contract referred to as an "Operations and
Maintenance Contract."
|
|
|
|
|
·
|
Construction Contracts: To build the Projects the
SPE will hire a third party to provide engineering, procurement, and
construction services pursuant to a contract referred to as a "Construction
Contract."
|
|
|
|
|
·
|
Project Maintenance Contracts: The SPE will then
hire Energea Brazil to operate and maintain the Projects pursuant to a
contract referred to as a "Project Maintenance Contract" (see "Interest of
Management and Others in Certain Transactions").
|
|
|
|
|
·
|
Credit Management Agreements: Each Project produces
energy credits. To convert those energy credits into revenue, the SPE must
hire a service provider to onboard Subscribers and administrate the
allocation of energy to each Subscriber on a monthly basis. These services
are performed by Energea Brazil under the terms and conditions set forth in a
Credit Management Agreement (see "Interest of Management and Others
in Certain Transactions").
|
|
·
|
The initial term is typically the same as the term of the
Project Rental Contract. However, the SPE will have the right to extend the
term for up to 30 years.
|
|
|
|
|
·
|
The rent typically escalates with the Brazilian consumer
price index (the Indice Nacional de Precos ao Consumidor Amplo).
|
|
|
|
|
·
|
The SPE is responsible for taxes, water fees, power,
sewage and any other services or utilities.
|
|
|
|
|
·
|
The SPE can do anything on the land necessary to build a Project,
including opening roads, workshops, buildings, warehouses, offices, and other
complimentary and ancillary installations so long as they are approved by the
applicable legal authorities. The SPE is also permitted to make any
improvements to the land it deems necessary so long as these improvements do
not impact the structural integrity of any buildings and we give the lessor
advance notice.
|
|
·
|
The SPE is liable for any direct damages that occur to the
land and must hold the lessor harmless against any claims, liabilities,
direct damages, losses, or expenses caused by these damages unless the lessor
was the party who caused such damages.
|
|
|
|
|
·
|
The SPE is also responsible for any environmental
liabilities that occurred during the Land Lease term, while the lessor is
responsible for any environmental liabilities before or after the Land Lease
term. In connection with any environmental liabilities, the parties both
agree to hold each other harmless for any claims, liabilities, or damages
that each party is responsible for under the Land Lease. However, all
liability for either party for any liabilities under the Land Lease
(including environmental) will be limited to the direct damages and penalties
imposed without regard to consequential damages and/or loss of profits.
|
|
|
|
|
·
|
The SPE has a right of first refusal to purchase the land
if the lessor wants to sell it.
|
|
|
|
|
·
|
The lessor may terminate at any time. However, if the
termination is for any reason other than our failure to pay rent for more
than three months, the lessor is required to pay a penalty to compensate the
SPE for the loss of revenue from the Project.
|
|
|
|
|
·
|
The SPE may also terminate at any time. The SPE would not
be subject to any penalty but would be required to remove the Project and
repair any damage to the land.
|
|
|
|
|
·
|
Disputes would be resolved by arbitration in Rio de
Janeiro under the rules of the Federation of Industries of the State of Sao
Paulo (also known in Brazil as the Federação das Industrias do Estado de
Sao Paulo).
|
|
·
|
The Consortium rents the Project for 25 years.
|
|
|
|
|
·
|
The SPE is responsible for obtaining and maintaining any
necessary authorizations or approvals for operating the Project.
|
|
|
|
|
·
|
The SPE retains title to the Project.
|
|
|
|
|
·
|
The SPE will receive a direct pass-through of 90% of all
revenue collected by the consortium, from Subscribers as compensation under
this agreement.
|
|
|
|
|
·
|
Disputes would be resolved by arbitration in Rio de
Janeiro under the rules of the Federation of Industries of the State of Sao
Paulo (also known in Brazil as the Federação das Industrias do Estado de
Sao Paulo).
|
|
·
|
The SPE is responsible for providing all services required
to maintain and operate the Project, including:
|
|
|
|
|
|
o Inspect the solar array at least twice per year;
|
|
|
|
|
|
o Inspect the inverter at least twice per year;
|
|
|
|
|
|
o Make adjustments to the Project to maximize power
generation;
|
|
|
|
|
|
o Coordinate inspections and repairs with relevant
authorities;
|
|
|
|
|
|
o Provide reports identifying (i) power production at 15
minute intervals; (ii) actual power production versus estimated production;
and (iii) losses from transformers and inverters;
|
|
|
|
|
|
o Serve as a liaison with utilities, component
manufacturers, and their respective agents;
|
|
|
|
|
|
o Maintain minimum quantities of replacement materials
in inventory;
|
|
|
|
|
|
o Coordinate electrical system/component repairs with
the Subscriber's electrician;
|
|
|
|
|
|
o Make requested repairs within level of service
expectations; and
|
|
|
|
|
|
o Perform preventative maintenance as required.
|
|
|
|
|
·
|
All services will be performed in accordance with their
respective owner/operator manuals, applicable manufacturer and vendor
warranties and specification, prudent operating practices and applicable
laws.
|
|
|
|
|
·
|
The initial term is the same as the Project Rental
Contract, which can be extended by mutual agreement of the parties.
|
|
|
|
|
·
|
The SPE will receive a direct pass-through of 10% of all
revenue collected by the Consortium from Subscribers as compensation under
this agreement.
|
|
|
|
|
·
|
Disputes would be resolved by arbitration in Rio de
Janeiro under the rules of the Federation of Industries of the State of Sao
Paulo (also known in Brazil as the Federacao das Industrias do Estado de
Sao Paulo).
|
|
·
|
The contractor will provide all the services needed to
design and build a Project on a turnkey basis, including:
|
|
|
|
|
|
o Producing estimates of the potential electrical
capacity;
|
|
|
|
|
|
o Creating engineering drawings;
|
|
|
|
|
|
o Supplying materials; and
|
|
|
|
|
|
o Installing, assembling, and testing the equipment.
|
|
|
|
|
·
|
For its services, the contractor will be entitled to a
fixed fee.
|
|
|
|
|
·
|
The fixed fee will be paid in accordance with a schedule
based on progress milestones.
|
|
|
|
|
·
|
The contractor will (i) be responsible for payment of all
taxes, charges, tax contributions, and social security contributions related
to the services performed; and ensure that all of its personnel are duly
registered, are performing services in accordance with Brazilian law, and are
paid all wages, salary, labor, and social security charges for their work.
|
|
|
|
|
·
|
The contractor will provide the SPE with certain
warranties for its services and the equipment supplied.
|
|
|
|
|
·
|
The contractor must maintain certain specified insurance
coverages.
|
|
|
|
|
·
|
The contractor is subject to various penalties for failure
to perform including Liquidated Damages.
|
|
|
|
|
·
|
Disputes would be resolved by arbitration by the Chamber
of Business Arbitration in Brazil (also known in Brazil as the Camara de
Mediacao e Arbitragem Empresarial - Brasil).
|
|
·
|
The contractor will provide all services required to
operate and maintain the Project, including:
|
|
|
|
|
|
o Providing all personnel, equipment, and materials
required for the efficient operation of the Project;
|
|
|
|
|
|
o Preparing all supporting documentation and information
related to the use and operation of the Project;
|
|
|
|
|
|
o Inspecting transmission lines and substations at least
twice annually and preparing a report suggesting services and maintenance to
be performed on the Project;
|
|
|
|
|
|
o Preparing and implementing operation and maintenance
instructions, guides, and procedures specific to the Project, including
contingency plans as necessary;
|
|
|
|
|
|
o Performing routine inspections of the Project to
ensure compliance with manufacturer's operation and maintenance standards;
|
|
|
|
|
|
o Determining, and to the extent possible, performing or
managing any additional services as necessary to remedy any actual or
potential problems with the Project;
|
|
|
|
|
|
o Registering the Project and all relevant equipment
with the appropriate authorities; and
|
|
|
|
|
|
o Managing the supply of all equipment inventory and
spare parts.
|
|
|
|
|
·
|
All services will be performed in accordance with their
respective owner/operator manuals, applicable manufacturer and vendor
warranties and specification, prudent operating practices and applicable
laws.
|
|
|
|
|
·
|
The contractor will regularly communicate with the SPE
concerning the Project, including:
|
|
|
|
|
|
o When any work is being done on the Project, holding
monthly meetings;
|
|
|
|
|
|
o Providing monthly reports;
|
|
|
|
|
|
o Providing daily bulletins on the operation of the
Project;
|
|
|
|
|
|
o Preparing monthly management; and
|
|
|
|
|
|
o Providing a report on any technical work performed on
a Project.
|
|
|
|
|
·
|
The SPE will pay the third-party contractor a fixed
monthly fee plus an additional amount for unexpected parts or services not
part of the Scope of Work. The fixed monthly fee is subject to adjustment
based on inflation.
|
|
|
|
|
·
|
The initial term of the contract is 60 months.
|
|
|
|
|
·
|
Disputes will be resolved in the courts of the Judicial
District of Rio de State of Rio de Janeiro.
|
|
·
|
The Contractor will provide two
types of credit management services:
|
|
|
|
|
|
o Marketing and acquisition
services: whereby the Contractor is to identify, onboard and document
Subscribers to the Consortium;
|
|
|
|
|
|
o Credit Management services: whereby the Contractor is
to provide software and services necessary to create, verify, allocate and
distribute energy credits followed by the invoicing and collection of revenue
from Subscribers
|
|
|
|
|
·
|
The term is for 20 years, the
same term as the Project Rental Contract.
|
|
|
|
|
·
|
Contractor must allocate at least 95% of all energy
credits produced by the Project to Subscribers each month.
|
|
|
|
|
·
|
Contractor is to meet international safety and security
standards around the use and possession of customer information.
|
|
|
|
|
·
|
Compensation for the services
are divided into two categories to match the two types of services where
marketing and acquisition services are paid a commission based on the
contracted energy load and the credit management services are compensated as
a fixed monthly fee.
|
|
|
|
|
·
|
Either Party may terminate the
agreement with written notice to the other. Early termination for cause will
result in a one-time early termination fee equal to six months of service
payments to be paid by the Party who committed the defaulting act.
|
|
·
|
The Price of Electricity in Brazil: As of the date
of this offering circular, we estimate that our Subscribers will typically save
approximately 15% on their electricity bills when they subscribe to one of
our Projects. The energy product we offer Subscribers is a fixed discount on
their cost of energy. In other words, if a Subscriber joined with a fixed 15%
discount, the amount of revenue we generate from that Subscriber will go up
if energy prices go up (as determined by published tariff set by the interconnecting
utility for conventional energy) and down if energy prices go down.
|
|
|
|
|
·
|
Government Policies: (see "Management
Discussion: Comments on the Market") Given the environmental and economic
benefits of solar power, the Company expects the friendly attitude of the
Brazilian government to continue. As we have seen in other markets, however,
environmentally friendly policies can change quickly. If the government in
Brazil succumbed to pressure from incumbent energy producers, it could impose
additional costs on the Projects.
|
|
|
|
|
·
|
Currency Fluctuations: The Brazilian national
currency, the BRL, as of the date of this offering circular fluctuating near
historic lows vis-à-vis the USD, making investments in Brazil relatively
inexpensive. Although we believe the BRL will strengthen vis-à-vis the USD,
making the profits from our Projects more valuable for U.S. investors, our
financial projections assume conservatively that the BRL will continue to
weaken versus the USD. Should the real weaken faster than our
projections and after we invest in Projects, any profits from operational
Projects would be less valuable for U.S. investors.
|
Project Name
|
Entity Name
|
Project Size (AC)
|
Acquisition
Date
|
Amount Invested*
|
Salinas
|
Project Salinas Geração S.A.
|
5.0
MW
|
04/15/19
|
$265,148.35
|
Itaguai
III
|
Energea Itaguai III
Aluguel de Equipamentos e Manutenção Ltda.
|
1.0
MW
|
03/06/20
|
35,706.72
|
Iguatama
|
Energea Iguatama Aluguel de
Equipamentos e Manutencao Ltda.
|
2.3
MW
|
10/12/20
|
2,266,303.28
|
Pedrinopolis
|
Energea Pedrinopolis Ltda.
|
2.3
MW
|
05/21/21
|
117.67
|
Pedra
do Indaiá
|
Energea Pedra do Indaiá Ltda.
|
2.3
MW
|
10/01/21
|
4,026,668.74
|
Divinopolis III
|
Energea Divinopolis Ltda.
|
2.3
MW
|
12/23/21
|
1,503,089.75
|
Araxa
I
|
Energea Araxa I Ltda
|
2.5
MW
|
12/23/21
|
295,743.47
|
Araxa II
|
Energea Araxa II Ltda
|
2.5
MW
|
12/23/21
|
296,299.34
|
Divinópolis
II
|
Energea Divinopolis II Ltda
|
2.5
MW
|
01/04/22
|
3,362,311.56
|
Corumbaíba
|
Energea Corumbaíba Ltda
|
2.5
MW
|
09/09/22
|
285,076.60
|
Diamantina
II
|
Energea Diamantina II Ltda
|
2.5
MW
|
10/17/22
|
113,680.39
|
Formiga I
|
Energea Formiga I Ltda
|
2.5
MW
|
10/17/22
|
157,073.68
|
Formiga
II
|
Energea Formiga II Ltda
|
1.5
MW
|
10/17/22
|
73,235.76
|
Naque
|
Energea Naque Ltda
|
1.5
MW
|
10/17/22
|
123,329.81
|
Micros
I
|
Energea Micros I Ltda
|
1.1
MW
|
12/29/22
|
976,491.26
|
Itabapoana
|
Energea Itabapoana Ltda
|
2.5
MW
|
12/29/22
|
94,589.50
|
Aparecida
do Taboado II
|
Energea Aparecida do Taboado II
Ltda
|
2.5
MW
|
04/12/23
|
135,567.32
|
Frei Inocêncio
|
Energea Frei Inocêncio Ltda
|
2.5
MW
|
04/12/23
|
95,567.32
|
Nova
Lacerda
|
Energea Nova Lacerda Ltda
|
2.5
MW
|
04/12/23
|
73,611.43
|
Monte
Sião
|
Energea Portfolio Geração de
Projetos MG II Ltda
|
2.5
MW
|
04/17/23
|
95,833.33
|
Aparecida
do Taboado I
|
Energea Aparecida do Taboado I
Ltda
|
2.5
MW
|
05/24/23
|
155,176.20
|
|
TOTAL
|
|
|
$14,430,621.48
|
Project Name
|
Entity Name
|
Project Size (AC)
|
Date Sold
|
Sale Price Net of Taxes
|
Salinas
|
Project Salinas Geracao S.A.
|
5.0 MW
|
05/11/2021
|
$147,717.12
|
Pedrinopolis
|
Energea Pedrinopolis Ltda.
|
2.3 MW
|
05/11/2021
|
150,379.17
|
Itaguai III
|
Energea Itaguai III
Aluguel de Equipamentos e Manutencao Ltda.
|
1.0 MW
|
05/19/2021
|
44,408.32
|
Aparecida do Taboado I
|
Energea Aparecida do Taboado I
Ltda
|
2.5 MW
|
06/06/2023
|
136,029.13
|
Frei Inocêncio
|
Energea Frei Inocêncio Ltda
|
2.5 MW
|
06/06/2023
|
124,924.63
|
Monte Sião
|
Energea Portfolio Geração de
Projetos MG II Ltda
|
2.5 MW
|
06/06/2023
|
126,224.19
|
Nova Lacerda
|
Energea Nova Lacerda Ltda
|
2.5 MW
|
06/06/2023
|
93,426.83
|
Formiga II
|
Energea Formiga II Ltda
|
1.5 MW
|
06/06/2023
|
100,343.76
|
Naque
|
Energea Naque Ltda
|
1.5 MW
|
06/06/2023
|
178,010.84
|
Itabapoana
|
Energea Itabapoana Ltda
|
2.5 MW
|
06/06/2023
|
133,060.59
|
TOTAL
|
|
$1,234,524.58
|
Project Name
|
Entity Name
|
Project Size (AC)
|
Estimated
Projected Cost
|
Amount Invested*
|
Form
1-U
|
Iguatama
|
Energea Iguatama Aluguel de
Equipamentos e Manutencao Ltda.
|
2.3 MW
|
$2,266,303.28
|
$2,266,303.28
|
|
Pedra do Indaiá
|
Energea Pedra do Indaiá Ltda.
|
2.3 MW
|
4,060,647.00
|
4,026,668.74
|
|
Divinopolis III
|
Energea Divinopolis Ltda.
|
2.3 MW
|
2,769,085.00
|
1,503,089.75
|
|
Araxa I
|
Energea Araxa I Ltda
|
2.5 MW
|
3,586,096.00
|
295,743.47
|
|
Araxa II
|
Energea Araxa II Ltda
|
2.5 MW
|
3,599,613.00
|
296,299.34
|
|
Corumbaíba
|
Energea Corumbaíba Ltda
|
2.5 MW
|
3,380,687.00
|
285,076.60
|
|
Divinópolis II
|
Energea Divinopolis II Ltda
|
2.5 MW
|
3,419,573.00
|
3,362,311.56
|
|
Micros I
|
Energea Micros I Ltda
|
1.1 MW
|
1,048,742.00
|
976,491.26
|
|
Aparecida do Taboado II
|
Energea Aparecida do Taboado II
Ltda
|
2.5 MW
|
3,284,388.00
|
135,567.32
|
TBD
|
Diamantina II
|
Energea Diamantina II Ltda
|
2.5 MW
|
3,238,712.00
|
113,680.39
|
TBD
|
Formiga I
|
Energea Formiga I Ltda
|
2.5 MW
|
3,297,611.00
|
157,073.68
|
TBD
|
|
TOTAL
|
|
$33,951,457.28
|
$13,418,305.39
|
|
|
·
|
Net Metering: RN 482 allowed
consumers to install solar panels or other distributed generation systems and
feed excess electricity back into the grid. This excess energy could be
credited and used to offset the consumer's future electricity bills. This mechanism
is known as net metering.
|
|
|
|
|
·
|
Consumer Categories: RN 482
classified consumers into two categories: DG1 and DG2.
|
|
|
o DG1: This category
included residential and small commercial consumers with installed capacity
of up to 75 kW (kilowatts). They were eligible for simplified net metering
procedures and received credits for excess energy at the same rate they paid
for energy consumption. The Company has acquired several DG1 Projects which
we refer to as "micros".
|
|
|
o DG2: This category
covered larger consumers, such as industrial or larger commercial users, with
installed capacity above 75 kW and up to 5 MW (megawatts). DG2 consumers had
more complex billing structures and received credits for excess energy at lower
rates. The majority of the Projects owned by the Company are DG2 projects.
|
|
·
|
Installed Capacity: DG1
consumers had a maximum installed capacity of up to 75 kW, while DG2
consumers had capacities exceeding 75 kW and up to 5 MW.
|
|
|
|
|
·
|
Billing: DG1 consumers enjoyed
a more straightforward and favorable net metering arrangement with credits
for excess energy at the retail electricity rate. DG2 consumers, on the other
hand, faced more complex billing structures and received credits at a lower
rate, which was typically lower than the retail rate.
|
Distribution
Date
|
Amount
|
Asset Management
Fees*
|
Promoted Interest*
|
05/20/2021
|
132,819.41
|
547.79
|
4,415.82
|
06/24/2021
|
33,514.92
|
187.79
|
883.16
|
07/24/2021
|
33,077.97
|
139.73
|
883.16
|
08/26/2021
|
19,437.72
|
139.73
|
883.16
|
09/23/2021
|
19,437.63
|
139.73
|
883.16
|
10/27/2021
|
19,437.64
|
139.73
|
883.16
|
11/30/2021
|
19,437.64
|
139.73
|
883.16
|
12/24/2021
|
18,977.20
|
-
|
-
|
2021 Total
|
$296,140.13
|
$1,434,23
|
$9,714.78
|
01/26/2022
|
9,207.27
|
279.46
|
1,766.32
|
02/24/2022
|
7,903.96
|
139.73
|
883.16
|
03/29/2022
|
8,977.11
|
139.73
|
883.16
|
04/29/2022
|
7,068.65
|
-
|
-
|
05/31/2022
|
7,068.14
|
-
|
-
|
06/30/2022
|
24,999.75
|
-
|
-
|
07/29/2022
|
25,000.10
|
-
|
-
|
08/27/2022
|
23,284.07
|
927.05
|
789.12
|
09/27/2022
|
21,043.05
|
1,322.68
|
2,634.13
|
10/27/2022
|
21,070.42
|
1,225.71
|
2,703.95
|
11/29/2022
|
29,939.23
|
1,225.71
|
3,820.74
|
12/28/2022
|
24,778.17
|
2,092.89
|
3,118.85
|
2022 Total
|
$210,339.92
|
$7,352.96
|
$16,599.43
|
01/27/2023
|
22,479.53
|
1,291.53
|
1,225.71
|
02/24/2023
|
25,264.57
|
1,250.71
|
3,474.91
|
03/27/2023
|
30,931.40
|
1,250.71
|
2,755.98
|
04/28/2023
|
30,974.00
|
1,290.71
|
2,735.20
|
05/30/2023
|
32,817.29
|
1,290.71
|
2,891.48
|
06/26/2023
|
40,191.00
|
1,290.71
|
3,518.57
|
07/25/2023
|
90,787.22
|
1,290.71
|
7,921.97
|
08/28/2023
|
31,002.47
|
1,290.71
|
2,705.96
|
09/27/2023
|
79,008.47
|
1,290.71
|
6,707.23
|
10/27/2023
|
80,684.03
|
1,290.71
|
7,952.32
|
11/24/2023
|
77,243.03
|
1,290.71
|
6,466.16
|
12/26/2023
|
72,996.55
|
2,893.71
|
6,109.73
|
2023 Total
|
$614,375.07
|
$17,012.34
|
$54,465.22
|
TOTAL
|
$1,120,855.12
|
$25,799.53
|
$80,779.43
|
|
·
|
Sale of Energy under Project
Rental Contracts and Operations and Maintenance Contracts
|
|
|
|
|
·
|
Net Proceeds from Capital
Transactions
|
|
|
o Originates from the sale
or refinancing of projects
|
|
|
o Net proceeds are the
gross proceeds of the capital transaction minus associated expenses,
including debt repayment
|
|
|
|
|
·
|
Liquidated Damages from
Construction Agreements
|
|
|
o Penalties paid by EPC
Contractors when projects are delivered behind schedule
|
|
|
o LDs are not booked as
revenue but are considered distributable cash flow
|
|
·
|
Class A Investors:
|
|
|
o Receive a priority
distribution of cash flow each month which results in a 7% IRR ("Preferred
Return").
|
|
|
o Plus, 70% of any
additional cash flow after the Preferred Return.
|
|
|
|
|
·
|
Manager:
|
|
|
o Receives 30% of any
additional cash flow after Investors receive their Preferred Return ("Promoted
Interest") (see "Compensation of Management and Executive Officers").
|
Name
|
Position with Manager
|
Age
|
Term of Office
|
Approximate Hours Per Week If Not Full Time (1)
|
Executive Officers
|
|
|
|
|
Mike Silvestrini
|
Managing Partner
|
43
|
01/01/2017 - Pres
|
Full Time
|
Gray Reinhard
|
Managing Partner
|
39
|
01/01/2020 - Pres will
|
Full Time
|
|
|
|
|
|
Significant Employees
|
|
|
|
|
Isabella Mendonça
|
General Counsel
|
32
|
10/02/2020 - Pres
|
Full Time
|
Arthur Issa
|
Financial Analyst
|
29
|
05/23/2018 - Pres
|
Full Time
|
Tyler Hurlburt
|
Director of Investment Relations
|
45
|
11/03/2020 - Pres
|
Full Time
|
Marta Coehlo
|
Controller
|
51
|
12/07/2018 - Pres
|
Full Time
|
Dave Rutty
|
Director of Construction
|
34
|
06/13/2022 - Pres
|
Full Time
|
Kathy Koser
|
Director of Compliance
|
43
|
08/01/2021 - Pres
|
Full Time
|
|
·
|
Energea Portfolio 3 Africa LLC ("Portfolio 3"),
which was formed to acquire and operate projects with located in Africa.
|
|
|
|
|
·
|
Energea Portfolio 4 USA LLC ("Portfolio 4"), which
was formed to acquire and operate projects located in the United States.
|
|
Energea Portfolio 3 Africa LLC
|
Energea Portfolio 4 USA LLC
|
Date of Initial Qualification
|
08/2/2021
|
07/01/2021
|
Maximum Offering Amount
|
$75,000,000
|
$75,000,000
|
Raised Through 12/26/23
|
$2,577,293.75
|
$2,911,945.62
|
Solar Projects Acquired
|
Eleven
|
Four
|
|
·
|
They receive fees and other compensation, including for
services provided;
|
|
|
|
|
·
|
They may invest alongside Investors and, if so, will
receive the same distributions as Investors;
|
|
|
|
|
·
|
They receive the Promoted Interest; and
|
|
|
|
|
·
|
They receive interest on loans to the Company.
|
Type of Fee
|
Description
|
Reimbursement of Offering
Expenses
|
The Company must reimburse the Manager
for expenses the Manager incurs in connection with the Offering before the
Offering Circular is qualified by the Securities and Exchange Commission.
As of the date of this offering
circular, we estimate that those expenses will be approximately $60,000.
|
|
|
Asset Management Fees
|
The Manager will charge the
Company a monthly asset management fee equal to 0.167% of the aggregate
capital that has been invested into the Company.
|
|
|
Developer Fees
|
The Manager might originate and
develop Projects that are acquired by the Company. If so, the Manager shall
be entitled to compensation that is no greater than 5.0% of the Project's
cost.
The amount of the developer fee
will depend on the number of Projects the Manager develops for the Company
and their cost. We cannot make a reasonable estimate at this time.
|
|
|
Interest on Loans
|
The Manager might lend to the
Company to fund the acquisition or investment in Projects or for other
purposes. Such a loan will bear interest at market rates.
The amount of interest will
depend on the amount and term of any such loans.
|
|
|
O&M and Credit Management Services
|
Energea Brazil provides O&M
and Credit Management services to the Projects owned by the Company. After an
extensive search to identify third parties to provide these services, the
Manager concluded that the nascent solar market in Brazil lacked
cost-effective and experienced options for these tasks. Energea Brazil, on
the other hand, agreed to provide these services at prices that were lower
than those offered through the competitive search process and has extensive
experience providing these services to hundreds of projects across the U.S.
and in multiple global markets.
|
|
·
|
The total returns the Company is able to achieve;
|
|
|
|
|
·
|
When those returns are achieved;
|
|
|
|
|
·
|
When the Company distributes money to Investors; and
|
|
|
|
|
·
|
The amount of expenses the Company incurs.
|
|
·
|
The fees paid to the Manager and its affiliates; and
|
|
|
|
|
·
|
Any transactions between the Company and the Manager or
its affiliates.
|
Stage of Company
|
Compensation
|
Organization of Company
|
· Reimbursement of Expenses
|
|
|
Acquisition of Projects
|
· Asset Management Fee
|
|
· Developer Fee
|
|
· Interest on Loans
|
|
|
Operation of Projects
|
· Asset Management Fee
|
|
· Promoted Interest
|
|
· O&M and Credit
Management Service Fees
|
|
|
Sale of Projects
|
· Asset Management Fee
|
|
· Promoted Interest
|
Name of Beneficial Owner (1)(2)
|
Number of Shares
Beneficially Owned
|
Amount and Nature
of Beneficial Ownership Acquirable
|
Percent of All
Shares
|
Energea Global LLC
|
374,333
|
N/A
|
2.6284%
|
Michael Silvestrini
|
159,273(3)
|
N/A
|
1.1183%
|
Christopher Sattler
|
113,386(3)
|
N/A
|
0.7961%
|
Gray Reinhard
|
322
|
N/A
|
0.0023%
|
All directors and executive officers of our Manager as a
group (3 persons)
|
272,981
|
N/A
|
1.9167%
|
-
|
|
-
|
|
(1)
|
Under SEC rules, a person is deemed to be a "beneficial
owner" of a security if that person has or shares "voting power," which
includes the power to dispose of or to direct the disposition of such
security. A person also is deemed to be a beneficial owner of any securities
which that person has a right to acquire within 60 days. Under these rules,
more than one person may be deemed to be a beneficial owner of the same
securities and a person may be deemed to be a beneficial owner of securities
as to which he or she has no economic or pecuniary interest.
|
|
|
|
|
(2)
|
Each listed beneficial owner, person or entity has an
address in care of our principal executive offices at 52 Main Street,
Chester, CT 06412.
|
|
|
|
|
(3)
|
Includes shares beneficially owned by Energea Global
LLC, under the control of its Class A Shareholders. Notably, Michael
Silvestrini and Chris Sattler, as the largest principal shareholders, hold
40.15% and 30.29% of the shares, respectively.
|
|
·
|
The Manager or a subsidiary of the Manager (i.e. Energea
Brazil);
|
|
|
|
|
·
|
Any director, executive officer, or significant employee
of the Company or the Manager;
|
|
|
|
|
·
|
Any person who has been nominated as a director of the
Company or the Manager;
|
|
|
|
|
·
|
Any person who owns more than 10% of the voting power of
the Company or the Manager; and
|
|
|
|
|
·
|
An immediate family member of any of the foregoing.
|
|
·
|
Energea Brazil - Project Maintenance Contract: Energea
Brazil provides operations and maintenance services to each of the SPEs.
These services are detailed in the Project Maintenance Contract (see "Summary
of Supporting Contracts").
Energea Brazil - Credit Management Agreement: Each
Project produces energy credits. To convert those energy credits into
revenue, the SPE must hire a service provider to onboard Subscribers and
administrate the allocation of energy to each Subscriber on a monthly basis.
These services are performed by Energea Brazil under the terms and conditions
set forth in a Credit Management Agreement (see "Summary of Supporting
Contracts").
|
|
|
|
|
·
|
Energea Global - Credit Advance: The Company
has entered into several credit advances with the Manager to accelerate the
availability of capital needed to make certain small payments. These amounts
are recorded as do-to/do-from transactions and no interest is charged to the
Company for these advances.
|
Project
|
Related Party
|
Contract
|
Date Signed
|
Iguatama
|
Energea Brazil
|
Project Maintenance Contract
|
August 22, 2023
|
|
Energea Brazil
|
Credit Management Agreement
|
Not Yet Signed
|
|
|
|
|
Pedra do Indaiá
|
Energea Brazil
|
Project Maintenance Contract
|
Not Yet Signed
|
|
Energea Brazil
|
Credit Management Agreement
|
Not Yet Signed
|
|
|
|
|
Divinopolis II
|
Energea Brazil
|
Project Maintenance Contract
|
Not Yet Signed
|
|
Energea Brazil
|
Credit Management Agreement
|
Not Yet Signed
|
|
|
|
|
Divinopolis III
|
Energea Brazil
|
Project Maintenance Contract
|
Not Yet Signed
|
|
Energea Brazil
|
Credit Management Agreement
|
Not Yet Signed
|
|
|
|
|
Micros I
|
Energea Brazil
|
Project Maintenance Contract
|
Not Yet Signed
|
|
Energea Brazil
|
Credit Management Agreement
|
Not Yet Signed
|
|
·
|
|
|
|
|
|
·
|
|
·
|
An uncured breach of the LLC Agreement by the Manager; or
|
|
|
|
|
·
|
The bankruptcy of the Manager; or
|
|
|
|
|
·
|
Certain misconduct on the part of the Manager, if the
individual responsible for the misconduct is not terminated.
|
|
·
|
If the Investor is an entity governed by the Employee
Retirement Income Security Act of 1974, Code section 4975, or any similar
Federal, State, or local law, and the Manager determines that all or any
portion of the assets of the Company would, in the absence of the redemption,
more likely than not be treated as "plan assets" or otherwise become subject
to such laws.
|
|
|
|
|
·
|
If the Manager determines that the Investor has engaged in
certain misconduct described in the LLC Agreement.
|
|
·
|
Cure ambiguities or inconsistencies in the LLC Agreement;
|
|
|
|
|
·
|
Add to its own obligations or responsibilities;
|
|
|
|
|
·
|
Conform to this Offering Circular;
|
|
|
|
|
·
|
Comply with any law;
|
|
|
|
|
·
|
Ensure that the Company isn't treated as an "investment
company" within the meaning of the Investment Company Act of 1940;
|
|
|
|
|
·
|
Do anything else that could not reasonably be expected to
have, an adverse effect on Investors
|
|
·
|
Buy the Class A Investor Shares for its own account;
|
|
|
|
|
·
|
Contribute money to buy the Class A Investor Shares;
|
|
|
|
|
·
|
Borrow money or dispose of assets; or
|
|
|
|
|
·
|
Take any other action the Manager believes would be
adverse to the interests of the Company, itself or its other Investors.
|
|
·
|
Distributions: As the holder of the Common Shares,
the Manager will be entitled to the distributions described above.
|
|
|
|
|
·
|
Voting Rights: The Common Shares will have no
voting rights per se. However, the Manager, in its capacity as the
manager of the Company, will control the Company.
|
|
|
|
|
·
|
Obligation to Contribute Capital: Holders of the
Common Shares will have no obligation to contribute capital to the Company.
|
|
|
|
|
·
|
Redemptions: Holders of the Common Shares will have
no right to have Common Shares.
|
|
·
|
Your name and address
|
|
|
|
|
·
|
Your email address
|
|
|
|
|
·
|
Your social security number (for tax reporting purposes)
|
|
|
|
|
·
|
Whether you are an "accredited investor"
|
|
|
|
|
·
|
If you not an accredited investor, your income and net
worth
|
|
·
|
A natural person who has individual net worth, or joint
net worth with the person's spouse, that exceeds $1 million at the time of
the purchase, excluding the value of the primary residence of such person;
|
|
|
|
|
·
|
A natural person with income exceeding $200,000 in each of
the two most recent years or joint income with a spouse exceeding $300,000
for those years and a reasonable expectation of the same income level in the
current year;
|
|
|
|
|
·
|
A trust with assets in excess of $5 million, not formed
for the specific purpose of acquiring the securities offered, whose purchase
is directed by a sophisticated person;
|
|
|
|
|
·
|
A business in which all the equity owners are accredited
investors;
|
|
|
|
|
·
|
An employee benefit plan, within the meaning of the
Employee Retirement Income Security Act, if a bank, insurance company, or
registered investment adviser makes the investment decisions, or if the plan
has total assets in excess of $5 million;
|
|
|
|
|
·
|
A bank, insurance company, registered investment company,
business development company, or small business investment company;
|
|
|
|
|
·
|
A charitable organization, corporation, or partnership,
not formed for the specific purpose of acquiring the securities offered, with
total assets exceeding $5 million; and
|
|
|
|
|
·
|
A director, executive officer, or general partner of the
company selling the securities, or any director, executive officer, or
general partner of a general partner of that issuer.
|
|
·
|
10% of their annual income; or
|
|
|
|
|
·
|
10% of their net worth.
|
|
·
|
our Current Reports for 2023 on Form 1-U filed with
the SEC on January
6, 2023, February
1, 2023, February
9, 2023, June
30, 2023
|
|
|
|
|
·
|
the Company's Annual Report for the fiscal year ended
December 31, 2022 on Form 1-K
|
|
|
|
|
·
|
the Company's Semi-Annual Report for the semi-annual
period ended June 30, 2023 on Form 1-SA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022
|
2021
|
||
Assets
|
|||
Current assets:
|
|||
Cash and cash equivalents
|
$ 1,237,923
|
$ 1,073,640
|
|
Accounts receivable
|
174,061
|
-
|
|
Prepaid expenses and other current assets
|
55,577
|
142
|
|
Loan
receivable, related party
|
64,651
|
54,939
|
|
Total current assets
|
1,532,212
|
1,128,721
|
|
Property
and equipment, net
|
|||
Property and
equipment
|
2,457,753
|
-
|
|
Construction in progress
|
4,357,702
|
4,559,595
|
|
Total
property and equipment
|
6,815,455
|
4,559,595
|
|
Less accumulated depreciation
|
34,700
|
-
|
|
Total
property and equipment, net
|
6,780,755
|
4,559,595
|
|
Other noncurrent assets:
|
|||
Operating lease right-of-use assets
|
629,475
|
-
|
|
Due from
related party
|
9,949
|
-
|
|
Total other noncurrent assets
|
639,424
|
-
|
|
Total assets
|
$ 8,952,391
|
$ 5,688,316
|
|
Liabilities
and members' equity
|
|||
Current liabilities:
|
|||
Accounts payable and accrued expenses
|
$ 80,038
|
$ 402,998
|
|
Operating
lease liabilities, current portion
|
1,976
|
-
|
|
Due to related party
|
1,255
|
2,421
|
|
Total
current liabilities
|
83,269
|
405,419
|
|
Non-current liabilities:
|
|||
Operating lease liabilities, long-term portion
|
644,569
|
-
|
|
Line of
credit note payable
|
4,075,001
|
3,675,000
|
|
Total current liabilities
|
4,719,570
|
3,675,000
|
|
Total liabilities
|
4,802,839
|
4,080,419
|
|
Members'
equity
|
|||
Total shares
and accumulated deficit
|
4,412,778
|
1,758,868
|
|
Total accumulated other comprehensive loss
|
(263,226)
|
(150,971)
|
|
|
|
||
Total members' equity
|
4,149,552
|
1,607,897
|
|
Total liabilities and members' equity
|
$ 8,952,391
|
$ 5,688,316
|
2022
|
2021
|
||
Revenue
|
$ 40,051
|
$
-
|
|
Portfolio operating expenses:
|
|||
Professional fees
|
45,366
|
19,389
|
|
Advertising
and marketing
|
4,848
|
-
|
|
Software subscription
|
2,443
|
11,679
|
|
Taxes
|
4,951
|
44,132
|
|
Other general and administrative expenses
|
40,261
|
25,817
|
|
Total
portfolio operating expenses
|
97,869
|
101,017
|
|
Projects operating expenses:
|
|||
Professional fees
|
1,994
|
146
|
|
Travel
|
3,423
|
8,156
|
|
Taxes
|
87,036
|
-
|
|
Operation
and Maintenance
|
3,143
|
-
|
|
Other general and administrative expenses
|
39,877
|
4,859
|
|
Total
projects operating expenses
|
135,473
|
13,161
|
|
Loss from
operations
|
(193,291)
|
(114,178)
|
|
Other income/(expense):
|
|||
Realized foreign currency loss
|
(2,266)
|
-
|
|
Gain on sale
of projects
|
-
|
56,172
|
|
Financing administrative fees
|
(4,000)
|
(22,567)
|
|
Depreciation
|
(34,700)
|
||
Interest income
|
10,413
|
1,845
|
|
Interest
expense
|
(63,116)
|
-
|
|
Miscellaneous expense
|
(469)
|
-
|
|
Total other
income/(expense)
|
(94,138)
|
35,450
|
|
Net loss
|
(287,429)
|
(78,728)
|
|
Other comprehensive loss
|
|||
Unrealized foreign currency exchange loss
|
(112,255)
|
(137,511)
|
|
Comprehensive loss
|
$ (399,684)
|
$ (216,239)
|
Common Shares
|
|
Investor Shares
|
Accumulated Deficit
|
Accumulated Other
Comprehensive Loss
|
Total Members' Equity
|
|||||||||||||||||||||||||
Shares
|
|
Amount
|
Shares
|
Amount
|
||||||||||||||||||||||||||
Members' equity, December 31,
2020
|
1,000,000
|
$ -
|
438,150
|
$ 392,763
|
$ (146,194)
|
$ (13,460)
|
$ 233,109
|
|||||||||||||||||||||||
Issuance of investor shares
|
-
|
-
|
2,370,691
|
1,887,167
|
-
|
-
|
1,887,167
|
|||||||||||||||||||||||
Non-dividend
distributions
|
-
|
-
|
-
|
-
|
(296,140)
|
-
|
(296,140)
|
|||||||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
(78,728)
|
-
|
(78,728)
|
|||||||||||||||||||||||
Unrealized
foreign currency translation loss
|
-
|
-
|
-
|
-
|
-
|
(137,511)
|
(137,511)
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||
Members'
equity, December 31, 2021
|
1,000,000
|
-
|
2,808,841
|
2,279,930
|
(521,062)
|
(150,971)
|
1,607,897
|
|||||||||||||||||||||||
Issuance
of investor shares, net of stock issuance costs of $138,384
|
-
|
-
|
4,091,954
|
3,150,840
|
-
|
-
|
3,150,840
|
|||||||||||||||||||||||
Non-dividend distributions
|
-
|
-
|
-
|
-
|
(210,340)
|
-
|
(210,340)
|
|||||||||||||||||||||||
Net
loss
|
-
|
-
|
-
|
-
|
(287,429)
|
-
|
(287,429)
|
|||||||||||||||||||||||
Cumulative translation
adjustment
|
-
|
-
|
-
|
-
|
839
|
-
|
839
|
|||||||||||||||||||||||
Unrealized
foreign currency translation loss
|
-
|
-
|
-
|
-
|
-
|
(112,255)
|
(112,255)
|
|||||||||||||||||||||||
Members'
equity, December 31, 2022
|
1,000,000
|
$ -
|
6,900,795
|
$ 5,430,770
|
$ (1,017,992)
|
$ (263,226)
|
$ 4,149,552
|
|||||||||||||||||||||||
2022
|
2021
|
||
Cash flows from operating
activities:
|
|||
Net loss
|
$ (287,429)
|
$ (78,728)
|
|
Depreciation
|
34,700
|
-
|
|
Non-cash lease expense
|
14,465
|
||
Changes in
assets and liabilities:
|
|
-
|
|
Accounts receivable
|
(178,118)
|
||
Prepaid
expenses and other current assets
|
(55,463)
|
4,858
|
|
Loan receivable interest added to principal
|
(9,712)
|
(984)
|
|
Due from
related party
|
6,655
|
-
|
|
Accounts payable and accrued expenses
|
(349,084)
|
305,972
|
|
Due to
related party
|
(1,288)
|
(6,274)
|
|
Total cash flows from operating activities
|
(825,274)
|
224,844
|
|
Cash
flows from investing activities:
|
|||
Property and
equipment
|
(2,312,202)
|
(4,029,798)
|
|
Loan receivable, related party
|
-
|
(54,001)
|
|
Total cash
flows from investing activities
|
(2,312,202)
|
(4,083,799)
|
|
Cash flows from financing
activities:
|
|||
Advances on line of credit
|
400,000
|
2,256,725
|
|
Issuance of
investor shares
|
3,150,840
|
1,887,167
|
|
Non-dividend distribution
|
(210,340)
|
(296,140)
|
|
Total cash
flows from financing activities
|
3,340,500
|
3,847,752
|
|
Effect of exchange rate changes
on cash
|
(38,741)
|
-
|
|
Increase in cash
|
164,283
|
(11,203)
|
|
Cash at the beginning of the
period
|
1,073,640
|
1,084,843
|
|
Cash at the end of the period
|
$ 1,237,923
|
$ 1,073,640
|
|
Supplemental disclosure of non-cash
activities:
|
|||
Non-cash operating and investing activities:
|
|||
Construction
in progress in accounts payable
|
$
-
|
$ 345,644
|
|
Adoption of ASC No. 2016-02:
|
|||
Operating
lease right-of-use asset
|
$ 648,373
|
$
-
|
|
Operating lease liability
|
$ 648,373
|
$ -
|
Operating lease cost
|
|
$ 69,848
|
Cash
paid for amounts in the measurement of lease liabilities - operating cash
flows from operating leases
|
|
$ 61,286
|
Weighted - average remaining lease
term - operating leases
|
|
296
|
Weighted
- average discount rate - operating leases
|
|
17.90%
|
2023
|
|
$ 109,445
|
2024
|
|
109,518
|
2025
|
|
109,518
|
2026
|
|
109,518
|
2027
|
|
109,518
|
Thereafter
|
|
2,150,828
|
Total future undiscounted lease payments
|
|
2,698,345
|
Less interest
|
|
(2,051,800)
|
Lease liabilities
|
|
$ 646,545
|
2022
|
2021
|
||
Federal
|
(2,710,486)
|
(78,728)
|
|
State
|
(747,884)
|
(78,728)
|
2022
|
2021
|
||
Federal:
|
|||
Current
|
$ -
|
$ -
|
|
Deferred
|
(60,361)
|
(56,327)
|
|
State:
|
|||
Current
|
-
|
-
|
|
Deferred
|
(22,907)
|
(20,117)
|
|
Income tax expense(benefit)
|
(83,268)
|
(76,444)
|
|
Change in valuation
allowance
|
83,268
|
76,444
|
|
Net Income tax expense (benefit)
|
$ -
|
$ -
|
2022
|
2021
|
||
Statutory
rate applied to pre-tax income - Federal
|
21.0%
|
21.0%
|
|
Statutory rate applied to
pre-tax income - State
|
7.5%
|
7.5%
|
|
Valuation
allowance
|
-28.50%
|
-28.50%
|
|
Effective tax rate
|
-
|
-
|
Authorizing Resolution
|
The authorization adopted by the Manager pursuant to the
LLC Agreement that created the Class A Investor Shares.
|
Adjusted NOI
|
The net
operating income of the Company after being adjusted so that the IRR of the
CAFD is equal to the Preferred Return rate of 7%
|
Advisors Act
|
Investment Advisers
Act of 1940.
|
ANEEL
|
The Brazilian Electricity Regulatory
Agency.
|
Amendment
|
The amendment made to the LLC Agreement on April 29, 2020.
|
Blue Sky Laws
|
State-level laws governing
investments.
|
BRL
|
The Brazilian currency called real.
|
CAFD
|
Cash available for distribution
by the Company.
|
Class A Investor Shares
|
The limited liability company interests in the Company
being offered to Investors in this Offering.
|
Code
|
The Internal Revenue Code of
1986, as amended (i.e., the Federal tax code).
|
Company
|
Energea Portfolio 2 LLC, a Delaware limited liability
company, which is offering to sell Class A Investor Shares in this Offering.
|
Consortium
|
A group of residential and
business Subscribers.
|
Construction Contract
|
The contract whereby the Company or an SPE will hire a
third party to provide to provide engineering, procurement, and construction
services for a Project.
|
Credit Management Agreement
|
A service contract for the sale
and administration of energy credits produced by the Projects
|
Development Company
|
A company focused on acquiring and/or developing solar
power projects.
|
DERMS
|
Distributed Energy Resource
Management Systems
|
Energea Brazil
|
Energea Brasil Operações Ltda, a Brazilian entity that
is an affiliate of the Manager.
|
Energea Global
|
Energea Global LLC, a Delaware
limited liability company, which is owned by Michael Silvestrini and Chris
Sattler and serves as the Manager.
|
Estimated NOI
|
The Net Operating Income estimated to be prodiced by the
Company.
|
Exchange Act
|
The Securities Exchange Act of
1934.
|
FINRA
|
Financial Industry Regulatory Authority, Inc.
|
Financial Model
|
The financial model prepared by
the Manager for each Project, projecting all the costs and distributions of
the Project.
|
GILTI
|
General Intangible Low-Tax Income, a federal U.S. tax on
profits made by companies outside the United States.
|
Investor
|
Anyone who purchases Class A Investor
Shares in the Offering.
|
Investment Committee
|
A multi-disciplinary committee of experienced renewable
energy executives of the Manager which decides which Projects the Company
will invest in.
|
IPCA
|
The Brazilian consumer price
index (Indice Nacional de Precos ao Consumidor Amplo).
|
IRR
|
Internal rate of return.
|
JOBS Act
|
The
Jumpstart Our Business Startups Act of 2012.
|
Land Lease
|
The contract whereby the Company or and SPE will lease the
land where a Project will be located.
|
Liquidated Damages
|
A penalty paid by a contractor
to a SPE when the construction of a Project is delayed beyond the schedule in
the Construction Contract.
|
LLC Agreement
|
The Company's Limited Liability Company Agreement dated
June 5, 2020.
|
NOI
|
Net Operating Income.
|
Normatice Resolution 482
|
A Brazilian energy policy that allows for the rental of
solar projects to consortiums (commonly reffered to as "community solar").
|
NPV
|
Net Present Value.
|
Manager
|
Energea Global LLC, a Delaware limited liability company.
|
Manager Shares
|
The limited liability company
interests in the Company that will be owned by the Manager.
|
Offering
|
The offering of Class A Investor Shares to the public
pursuant to this Offering Circular.
|
Offering Circular
|
The Offering Circular you are
reading right now, which includes information about the Company and the
Offering.
|
Operation and Maintenance Contract
|
The contract whereby our customer will hire the Company to
operate and maintain the Project.
|
Platform
|
The website located at www.energea.com.
|
Preferred Return
|
An amount of distributed cash flow that goes to Investors
before the Manager earns a Promoted Interest.
|
Prior Offering
|
The Company's previous Regulation
A offering that was initially qualified by the SEC on August 13, 2020.
|
Project
|
A solar power project acquired or developed by the
Company.
|
Project Maintenance Contract
|
When the SPE hires Energea
Brazil to perform the actual O&M services.
|
Project Rental Contract
|
A contract pursuant to which the SPE that owns a Project
will rent the Project to the customer.
|
Promoted Interest
|
The right of the Manager to
receive distributions under the LLC Agreement, over and above its right to
receive distributions in its capacity as an Investor.
|
Regulations
|
Regulations issued under the Code by the Internal Revenue
Service.
|
Ratio
|
An monthly report presented to
the utility company from each Project which outlines the allocation of energy
credits (as a percentage of total generation) to Subscribers.
|
SEC
|
The U.S. Securities and Exchange Commission.
|
Securities Act
|
The Securities Act of 1933.
|
SPE
|
The entity we create to own and operate each Project,
typically in the form of a Brazilian Limitada.
|
Subscriber
|
A small business or residential
customer.
|
USD
|
The currency of the United States called dollars.
|
U.S. GAAP
|
United State Generally Accepted
Accounting Principles.
|
Exhibit No.
|
Description of Exhibit
|
2.1
|
|
2.2
|
Limited
Liability Company Agreement of the Company dated April 29, 2020 (incorporated by reference to the copy thereof filed as
Exhibit 1-A2B to the Company's Form 1-A filed July 2, 2020).
|
2.3
|
|
2.4
|
First
Amendment of Limited Liability Company Agreement dated December 3, 2020 (incorporated by reference to the copy thereof filed as
Exhibit 1-B to the Company's Form 1-K filed April 30, 2021)
|
4.1
|
|
4.2
|
|
4.3
|
|
4.4
|
|
4.5
|
|
4.6
|
|
6
|
|
9
|
|
11.1
|
Consent of Goodwin Procter
(included in Exhibit 12)*
|
11.2
|
|
12
|
Legal opinion Goodwin Procter*
|
Loan Party
|
Leased Real Property
|
Address
|
Energea Portfolio 2 LLC
|
N/A
|
N/A
|
Energea Geração Distribuída de Energia do Brasil S.A.
|
N/A
|
N/A
|
Energea Iguatama Aluguel de Equipamentos e Manutenção Ltda.
|
Surface Rights Agreement dated August
26, 2020, with Hamilton Aparecido Garcia
|
Property located in Iguatama/MG, registered under No. R-2-592.
|
Energea Pedra do Indaiá Ltda.
|
Surface Rights Deed,
dated September 16, 2022, with Agropecuária Tapera Ltda.
|
Property located in Pedra do Indaiá/MG, called "Fazenda Tapera", registered under No. 13.574.
|
Energea Araxá
I Ltda.
|
Lease Agreement dated February
18, 2022, with Jordelino José Carneiro Neto and Palmira Barcelos Carneiro.
|
Property located in Araxá/MG, called "Fazenda Córrego do Sal",
registered under No. 46.242.
|
Energea Divinópolis Ltda.
|
Lease Agreement dated May 4, 2022, with Jerônimo Rodrigues dos Santos.
|
Property Located at Divinopolis/MG,
called "Fazenda do Brejinho", registered under No. 25.533.
|
Energea Divinópolis II Ltda.
|
Lease
Agreement dated March 10, 2022, with
Beraldo Ferreira and Nilda Maria Gomes Ferreira.
|
Property Located in Divinopolis/MG, called "Córrego Sugo", registered under No. 25.462.
|
Energea Micros I Ltda. Beto
|
Lease Agreement dated December 20, 2022 with Espólio de Paulo
Roberto Pacca de Souza Brito.
|
Property
located in
Vassouras/RJ, called "Bacia Vieira de Macedo", registered under No.
8.796.
|
Energea Micros I Ltda. Granja Bambu
|
Lease Agreement with Espólio Sebastião Hudson
e Espólio de Thereza Almerinda da Conceição
|
Property located in Vassouras/RJ, called "Monte Razo", registered under No. 1.381.
|
Loan Party
|
Leased Real Property
|
Address
|
Energea Micros I Ltda. Granja Escola
|
Lease Agreement with Espólio Sebastião Hudson
e Espólio de Thereza Almerinda da Conceição
|
Property located in Vassouras/RJ, registered under No. 602.
|
Energea Micros I Ltda. Granja Platô
|
Lease Agreement with Sebastião Hudson Filho
|
Property located in Paty dos Alferes/RJ, called "Imóvel Jacó e Guarda Mor", registered under No. 4.009.
|
Energea Micros
I Ltda.
Jurema I
|
Lease Agreement with Luiz Carlos Fernandes Ribeiro and Marinete Fernandes Ribeiro
|
Property located in Paty dos Alferes/RJ, registered under No. 294
|
Energea Micros I Ltda. Jurema II
|
Lease Agreement with Luiz Carlos Fernandes Ribeiro and Marinete Fernandes Ribeiro
|
Property located in Vassouras, called "Granja n
Número 35", registered under No. 10.995.
|
Energea Micros I Ltda. Karol II
|
Lease Agreement with Karolayne Maciel Conde
|
Property located in Petropolis/RJ,
called "Viuva Bastos", registered under No. 204
|
Energea Micros I Ltda. Karol III
|
Lease Agreement with Karolayne Maciel Conde
|
Property located in Petropolis/RJ,
called "Viuva Bastos", registered under No. 204
|
Energea Micros I Ltda. Reinaldo I
|
Lease Agreement with Reinaldo da Silva Machado
|
Property located in Paty dos Alferes/RJ, called "Fazenda São Luiz Boa Vista", registered under No. 3.950.
|
Energea Micros I Ltda. Rosane I
|
Lease Agreement with Rosane da Costa
Maciel
|
Property Located in Paty dos Alferes/RJ, called "Viuva Bastos", registered under
No.
5.590.
|
Energea Micros I Ltda. Rosane III
|
Lease Agreement with Rosane da Costa
Maciel and Orlanda da Costa Maciel
|
Property Located in Paty dos Alferes/RJ, called "Viuva Bastos", registered under
No.
5.591.
|
Loan Party
|
Leased Real Property
|
Address
|
Energea Micros I Ltda. Sapucaia I
|
Lease Agreement with Carlos Alberto dos Santos Junior and Sebastião Lopes de Carvalho
|
Property located in Sapucaia/RJ,
called "Sitio Nossa Senhora da Paz", registered under No. 2.332.
|
No. Project
1. Iguatama, Brazil
|
Reference #
BRZ-IGU
|
Approval Date 10/9/2020
|
Approved Amount (US$)
$1,775,000.00
|
2.25
MW ac
2. Pedra
do Indaiá, Brazil
|
BRZ-PED
|
9/3/2021
|
$1,900,000.00
|
2.50
MW ac
3. Divinópolis, Brazil
|
BRZ-DIV
|
10/14/2022
|
$1,360,000.00
|
2.50
MW ac
4. Divinópolis III
|
BRZ-DIV-III
|
12/19/2023
|
$0
|
5. Araxa
I
|
BRZ-ARX
|
12/19/2023
|
$0
|
6.
|
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Beto
7.
|
BTO
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Granja
Bambu
8.
|
GBB
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Granja
Escola
9.
|
GES
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Granja
Platô
10.
|
GPT
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Jurema
I
11.
|
JM1
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Jurema
II
12.
|
JM2
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Karol
II
13.
|
KR2
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Karol
III
14.
|
KR3
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Reinaldo I
15.
|
RND
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Rosane
I
16.
|
RS1
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Rosane
III
17.
|
RS3
BRZ-MIC-
|
12/19/2023
|
$0
|
Micros I - Sapucaia I
|
SPC
|
|
|
Project Name
|
Status
|
kWdc kWac Budget $ CFADS
|
Balance $
|
|
Iguatama
Pedra do Indaiá Divinópolis II Divinópolis
III Araxá I
Araxá II Micros I - Beto
Micros I - Granja
Bambu
Micros I - Granja Escola
Micros I - Granja Platô Micros I - Jurema I
Micros I - Jurema II Micros I - Karol II Micros I - Karol III Micros I - Reinaldo I Micros I - Rosane I Micros I - Rosane III Micros I - Sapucaia I
Corumbaíba Diamantina Formiga I
Aparecida do Taboado
II
|
Operational
Under Construction
Under Construction
Under Construction
Contracted Backlog
Contracted Backlog
Operational
Operational
Operational
Operational Under Construction Under Construction
Operational Operational Operational Operational Operational Operational
|
2,547,52
2,706 2,250 7 48,281
4,188,31
3,000 2,500 7 56,908
3,463,05
2,971 2,500 0 59,427
3,165,78
3,125 2,500 9 60,232
3,642,65
3,125 2,500 3 58,980
3,669,09
3,125 2,500 4 59,070
100 75 82,702 14,682
100 75 82,614
100 75 82,590
100 75 69,508
100 75 82,795
100 75 82,903
100 75 83,362
100 75 82,580
100 75 82,804
100 75 82,614
100 75 82,773
100 75 82,749
3,141,76
3,125 2,500 8
3,480,92
3,125 2,500 3
3,529,67
3,125 2,500 2
3,458,94
3,125 2,500 8
|
||
942,927
|
||||
2,387,142
|
||||
3,354,525
|
||||
3,380,410
|
||||
2,900,886
|
||||
3,366,666
|
||||
3,405,081
|
||||
3,363,380
|
Date Required
|
Agreement
|
Granting Loan Party
|
Relevant Collateral
|
Second
Amendment Closing Date
|
Pledge Agreement
|
Borrower
|
All outstanding membership interests in [ ] owned by Borrower
|
Closing Date
|
Fiduciary Lien over Shares
|
Michael
Paul Silvestrini,
Chris Sattler and Antonio Carlos Nether Ferreira Pires
|
All outstanding equity interests
in Energea Geração Distribuída de Energia do Brasil S.A. ("Energea Brasil")
|
Closing Date
|
Fiduciary Assignment of Credit
Rights and Accounts Administration (one for each applicable Project SPE)
|
Energea Brasil and each Project SPE which owns an Approved Project
|
All receivables from Project Agreements, Insurance and balance/ investments on escrow account
|
Closing Date
|
Fiduciary Lien over Shares/Quotas (one for each
applicable Project SPE)
|
Shareholders of each applicable Project SPE
|
All outstanding equity interests
in any Project SPE that owns an Approved Project
|
Date Required
|
Agreement
|
Granting Loan Party
|
Relevant Collateral
|
Closing Date
|
Fiduciary Lien over Assets (one for each applicable Project SPE)
|
Each
Project SPE which owns an Approved Project
|
All equipment owned by each applicable Project SPE
|
Drawdown Date for Revolving Loan or Term Loan
|
Account Agreement for each Permitted Account
|
Each
Project SPE which owns an Approved Project
|
All security of deposit accounts of each applicable Project SPE
|
Drawdown Date for Revolving Loan or Term Loan
|
Any agreement set forth above not provided previously
|
As set forth
above, as applicable
|
As set forth
above, as applicable
|
Date Required
|
Filing/Instrument
|
Granting Loan Party
|
Relevant Collateral
|
Second
Amendment Closing Date
|
UCC-1 Filing
|
Borrower
|
All outstanding membership interest in Energea Iguatama Aluguel de Equipamentos e Manutenção Ltda., Energea Pedra do Indaiá Ltda., Energea Araxá I Ltda., Energea Divinópolis Ltda., Energea Divinópolis II Ltda., Energea Micros I Ltda. owned by Borrower.
|
Second
Amendment Closing Date
|
Undated, executed transfer instrument and certificate of membership interest
|
Borrower
|
All outstanding membership interest in Energea Iguatama Aluguel de Equipamentos e Manutenção Ltda., Energea Pedra do Indaiá Ltda., Energea Araxá I Ltda., Energea Divinópolis Ltda., Energea Divinópolis II Ltda., Energea Micros I Ltda. owned by Borrower
|
Drawdown Date for Revolving Loan or Term Loan
|
Assignment Notifications as to each Material Project Document for each Approved Project
|
Energea Brasil and each Project SPE which owns an Approved Project
|
Energea Brasil and each Project SPE which owns an Approved Project
|
5 Business Days
from the execution date of the Fiduciary Lien over Shares
|
Annotation of the Fiduciary Lien on Energea Brasil's registered Share Register
|
Michael Paul Silvestrini, Chris Sattler and Antonio Carlos Nether Ferreira Pires
|
All outstanding equity interests in Energea Brasil
|
10 days from the
|
Register before the
|
Michael Paul
|
All outstanding equity
|
Date Required
|
Filing/Instrument
|
Granting Loan Party
|
Relevant Collateral
|
execution date of the
Fiduciary Lien over Shares
|
competent Registry of Titles and Deeds
|
Silvestrini, Chris Sattler and Antonio Carlos Nether Ferreira Pires
|
interests in Energea
Brasil
|
5 Business Days
from the execution date of the
|
Registered
amendment to the Articles of Association of the
|
Shareholders of each applicable Project SPE
|
All outstanding equity interests in any Project SPE that owns an
|
Fiduciary Lien over Shares/Quotas
|
Project SPE
|
|
Approved Project
|
10 days from the execution date of the Fiduciary Lien over Shares/Quotas
|
Register before the competent Registry of Titles and Deeds
|
Shareholders of each applicable Project SPE
|
All outstanding membership interest in any Project SPE that owns an Approved Project
|
10 days from the execution date of the Fiduciary Assignment of Credit Rights and Accounts Administration
|
Register before the competent Registry of Titles and Deeds
|
Energea Brasil and each Project SPE which owns an Approved Project
|
All receivables from Project Agreements, Insurance and balance/ investments on escrow account
|
10 days from the execution date of the Fiduciary Lien over Assets
|
Register before the competent Registry of Titles and Deeds
|
Each
Project SPE which owns an Approved Project
|
All equipment owned by the Project SPE that will be used in the construction of the Approved Project
|
Drawdown Date for Revolving Loan or Term
Loan relating to an Approved Project owned indirectly by Portfolio 1
|
UCC-1 Filing
|
Borrower
|
All outstanding membership interest in Portfolio 1 owned by Borrower
|
Drawdown Date for Revolving Loan or Term
Loan relating to an Approved Project owned indirectly by Portfolio 1
|
Undated, executed transfer instrument and certificate of membership interest
|
Borrower
|
All outstanding membership interest in Portfolio 1 owned by Borrower
|
Drawdown Date for Revolving Loan or Term Loan
|
Any filing, notice or instrument set forth above not provided previously
|
As set forth
above, as applicable
|
As set forth
above, as applicable
|