Negros PH Solar Inc MOU Juwi2

February 28, 2023 | Author: Anonymous | Category: N/A
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MEMORANDUM OF UNDERSTANDING

This Memorandum of Agreement is made the 7th day of January 2015.

Between Negros PH Solar Inc (Company o. !!!" a #orporation organi$ed and

e%isting e%isti ng under under the &aws &aws of 'hi&ip 'hi&ippin pines es regist registere ered d with with )*egist )*egistrat ration ion  Authority+ ha,ing its p&a#e of -usiness at / /10 10 /& /&oo-e e Tower wer1 1 'io 'ioneer neer t Cor Corner ner.. Madi Madison son Bar Baranga angay y &a &aya ya Man Manda& da&uyo uyong ng City Metro Mani& City Mani&a a 'hi&i 'hi&ippines ppines here herein inaf afte terr re refe ferr rred ed to as PH Codeveloper 3  And  j!" S"ngapore Rene!a#le Energ"es Pr"va$e %"&"$ed  (Company o.

2011417" a #ompany under*enewa-&e the &aws of6nergies ingapore and ha,ing its registered offi#e in#orporated at Juwi ingapore pri,ate imited 152 Bea#h *oad 821907:0; /ateway 6ast ingapore 1; e> appr appro, o,a& a& fr from om go,ernmenta& and regu&atory authorities in 'hi&ippines.

Memorandum of nderstanding

'age 1 of 20

 

F.

' Co9 Co9de,e de,e&&oper oper has has the the re?u re?uiired red #ont #onta# a#tt inf nfor orma mati tion on and and netw networ or> > th that at wou& wou&d d essentia&&y ena-&e the su##ess of this pro=e#t in an effi#ient and e%pedient manner. ' Co9de,e&oper is the responsi-&e party for pro#uring &and and grid #onne#tion #ontra#ts permits &i#enses and #&earan#es for the 'ro=e#ts unti& an 6?uity n,estor  -uys the 'ro=e#t(s". After that the ' Co9Fe,e&oper supports the 6?uity n,estor  pro#uring the same. These permits &i#enses and #&earan#es in#&ude -ut are not &imited to &and &ease or pur#hase #ontra#ts grid #onne#tion permit &o#a& pu-&i# hearing &and a##ess to mu&tip&e &and sites #om-ined with hundreds of he#tares #apa-&e of a##ommodating &arge so&ar farm ser,i#e #ontra#t FG6 appro,a& 6*C appro,a&.. 's#a&e Co9de,e&oper is de,e&opment interested to #o&&a-orate with a partner who has strong te#hni#a& te#hni#a& e%pertise and tra#> re#ord in de,e&oping de,e&oping finan#ing and e%e#uting so&ar photo,o&tai# pro=e#ts wor&dwide as we&& as &o#a& 'hi&ippine -ased presen#e of a team a&&o#ated for the pro=e#t.

6.

The 'arties agree to the o-&igations and terms set forth in this Memorandum of  nderstanding nders tanding Agreement Agreement (this Agreement3" Agreement3" to a#hie,e a#hie,e the #ommon goa& of de,e&oping de,e&oping engineering finan#ing #onstru#ting #ommissioning and operating photo,o&tai# so&ar power  p&ants in the 'hi&ippines (who&&y referred to as the Co9de,e&opment3". ow therefo therefore re in #onside #onsiderat ration ion of the mutua& mutua& promis promises es underta underta>in >ings gs and #o,enan #o,enants ts #ontained herein the 'arties agree as fo&&owsH

() Scope o* Agree&en$ Agree&en$

(1" (1"

The The phot photo, o,o& o&ta taii# so& so&ar power power p&an p&ants ts in the the 'hi& hi&ippi ippine nes s go,e go,ern rned ed -y this this mode& ode& of Co9 Co9 de,e&opment sha&& -e referred to as 'ro=e#ts3 or ea#h a 'ro=e#t3 whi#h detai&s wi&& -e &isted in ANNE+ ) of this Agreement. (2" (2"

This This Agre Agreem emen entt sha&& sha&& #ons #onsis istt of three three (4" (4" #onse #onse#u #uti ti,e ,e stage stages. s. The The first first stag stage e sha&& sha&& -egin from the e%e#ution of this Agreement and end after an 6?uity n,estor has pur#hased the 'ro=e#t(s". The se#ond stage sha&& -egin dire#t&y after stage one has -een #omp&eted and end at the Iinan#ia& C&ose or Transa#tion C&ose whi#he,er  #omes &ater.tage one and stage two sha&& -e referred to as the Fe,e&opment tage3 of the Co9de,e&opmen Co9de,e&opment. t. The third stage sha&& -egin from the #ommen#ement #ommen#ement of #onstru#tion #onstru#tion pursuant to the 6ngineering 6ngineering 'ro#urement 'ro#urement  Constru#tion Constru#tion Contra#t (6' (6'C C Contr Contra# a#t3 t3" " as pro, pro,id ided ed in e#t e#tio ion n 10 of th this is Agr greem eement ent and en end d upon upon #omp&etion of #onstru#tion of the 'ro=e#ts and sha&& -e referred to as the 6'C tage3. Ior purposes of this Agreement Iinan#ia& C&ose sha&& o##ur when a&& the pro=e#t and finan#ing agreements ha,e -een signed and a&& the re?uired #onditions #ontained in them ha,e -een met transa#tion #&ose sha&& o##ur when a&& sa&e:transfer  agreements pertaining to the e?uity or assets of the 'ro=e#t as the #ase may -e and the 6'C Contra#t and Gperation  Maintenan#e Contra#t (GM Contra#t3" -etween and =uwi ingapore ha,e -een signed and a&& the re?uired #onditions #ontained in them ha,e -een met. (, Pr"&ar' Agree&en$s

(1"

Te Par$"es agree $o $e Co-develop&e Co-develop&en$ n$ o* $e Projec$s Projec$s and *r$er agree $a$ $e Projec$.s/ sall #e sold $o E0"$' Inves$or.s/ as earl' as poss"#le and po$en$"all' $

#e*ore 23  ,3)4 and $a$ $e cons$rc$"on o* $e Projec$s "s "n$ended $o s$ar$ "n 0ar$er1ne , $o 0ar$er 2 ,3)4 5

Memorandum of nderstanding

'age 2 of 20

 

The ' Co9Fe,e&oper sha&& se#ure a&& ne#essary permits and &i#enses and initia& &and and te#hni#a& e,a&uation wor> ne#essary to further the Co9de,e&opment of the 'ro=e#ts. wor> for for th the e 'ro ro==e#ts e#ts -e -etwe tween en ' Co9de Co9de,e& ,e&op oper er an and d =uwi =uwi inga ingapo pore re ar are e set set ou outt in AN ANNE NE+ + ,  of this  Agreement.

(7" (7"

The The 'art 'artie ies s sha&& sha&& use use their their -est -est ende endea, a,or ors s to e%pa e%pand nd and and furth further er the the inten intentt of this this  Agreement and the Co9de,e&opment of the 'ro=e#ts during the term of this  Agreement.

(2 Role and O#l"ga$"ons o* 8PH Co-developer9

Memorandum of nderstanding

'age 4 of 20

 

(1" (1"

' Co9d Co9de, e,e& e&ope operr wi&& wi&& under underta> ta>e e the prin prin#i #ipa& pa& ro& ro&e e of the 'hi& 'hi&ip ippi pine ne pro= pro=e# e#tt de,e&o de,e&oper  per  tas>ed with managing &o#a& : nationa& re&ations with re&e,ant go,ernmenta& authorities and managing any and a&& &and re&ated issues #on#erning the 'ro=e#t or 'ro=e#ts. ' Co9de,e&oper underta>es to perform and a##omp&ish any and a&& tas>s ne#essary to a##omp&ish the ro&e as the 'hi&ippines pro=e#t de,e&oper in#&uding -ut not &imited to the fo&&owing tas>sH

a.

>.

e#u e#uri ring ng spe# spe#if ifi# i# sit sites es for for &ong &ong term term &an &and d &ease &ease or pur pur#h #has ase e -y the the 'D 'D (app (appro ro,a ,a&& and re=e#tion rights -y =uwi ingapore" 'ropo 'roposi sing ng negoti negotiati ating ng and and #&osi #&osing ng and and &eas &ease e or pur pur#h #has ase e agree agreeme ments nts as appr appro, o,ed ed -y =uw =uwii ingapore #. 'ro,i ro,idi ding ng maps maps topo topogr grap aphi hi# # infor nforma mati tion on f& f&oo ood d ri ris> s> inf nfor orma mati tion on and and site site phot photos os a##epta-&e to =uwi ingapore 'ro# ro#ur urem emen entt of a&& a&& ne# ne#essa essary ry rea& rea& esta estate te #ont #ontra ra# #ts and and perm permiits ts &i#ens #enses es #&ea #&eara ran# n#es es #on,ersion of &and et#. to -ui&d and operate a photo,o&tai# power p&ant 6nsu 6nsure re the the spe# spe#if ifi# i# sit site e has has a&& a&& the the ne#es ne#essar sary y &and &and usa usage ge righ rights ts for for so& so&ar ar powe powerr gener generati ation. on. This means for e%amp&e the &and use has -een #on,erted or is fit for #ommer#ia& : industria& use G-tai G-taini ning ng the the ne#e ne#ess ssar ary y perm permit its s &i# &i#en ense ses s #&e #&ear aran# an#es es reso reso&u &uti tions ons suppo support rt et#. et#. fro from m &o#a &o#a&& authorities i.e. Barangay City Muni#ipa&ity or 'ro,in#ia& /o,ernment. upp upporting the the n, n,estor tor o-t o-taini ainin ng a Ieed n Ta Tariff  FIT3 6&igi-i&ity from the Fepartment Gf  6nergy DOE3 and 6nergy *egu&atory Commission  ERC3 (with support from =uwi ingapore as and when re?uired" 'ro, o,iidin ding pro proof that a&& ne#essary do#uments ts agr gre eements ts &and &eas ease or pur ur# #has hase #ontra#ts &o#a& permissions en,ironmenta& #onditions et#. are #omp&ete &ega&&y -inding enfor#ea-&e and free from any en#um-ran#es eadi eading ng the the /rid /rid mpa# mpa#tt and and Ia#i Ia#i&i&ity ty study study an and d nego negoti tiati ation ons s wit with h ati ationa ona&& /ri /rid d Corp Corpor orati ation on of the 'hi&ippines NGCP3 and 6*C eading the preparation and possi-&e registration of the 'Ds with the t he Board of n,estments (BG" the Bureau of Customs (BGC" and other re&e,ant agen#ies unti& the 6?uity n,estor  has pur#hased the 'ro=e#t(s" after whi#h the &eadership wi&& -e with an 6?uity n,estor(s" and the ' Co9de,e&oper wi&& support ead eadiing the the app& app&ii#ati ation of the the 6n,ir n,iron onme ment nta& a& Com Comp&i p&ian#e an#e Cert Certiifi fi#a #ate te n nte terf rfa# a#iing with with

&.

authorities (&o#a& and nationa&" sta>eho&ders and de#ision ma>ers Any and and a& a&& ttas as>s >s ne#e ne#es ssary sary to a## a##om omp& p&iish tthe he fore forego goiing. ng.

-.

d. e.

f. g.

h.

i.  =.

(2" (2"

' Co9d Co9de, e,e& e&ope operr wi&& wi&& assis assistt =uwi =uwi inga ingapor pore e to o-tai o-tain n a&& do# do#um ument ents s and info inform rmati ation on ne#essary or desira-&e to fu&fi&& the de,e&opment finan#ing engineering pro#urement and #onstru#tion of the 'ro=e#t or 'ro=e#ts in an appropriate and time&y manner.

(4" (4"

' Co9d Co9de, e,e& e&ope operEs rEs ro& ro&es es and and respo respons nsi-i i-i&i&iti ties es are are des#r des#rii-ed ed in great greater er detai detai&& in the s#ope of wor> set9out ANNE+ , of this Agreement.

(: Role and O#l"ga$"ons o* j!" S"ngapore

(1"

In re resp spec ec$$ o* $ $e e Pr Proj ojec ec$s $s l"s l"s$e $ed d "n AN ANNE NE+ + )7 j j!" !" S" S"ng ngap apor ore e !"l !"lll n nde der$ r$a; a;e e $ $e e pr"nc"pal role o* $e $ecn"cal and *"nanc"al projec$ develop&en$ par$ner $as;ed !"$

Memorandum of nderstanding

'age  of 20

 

e6ec$"ng e0"$' sales7 *ac"l"$a$"ng projec$ *"nance7 as !ell as #e"ng $e &a"n EPC and OM #ontra#tor (the  j!"  j!" S"ngapore Serv"ces

a"

E6ec$"ng $e "n"$"al anal's"s and selec$"on o* s"$a#le projec$ s"$es "n$erpre$"ng &aps77 $opog &aps $opograp" rap"c c "n*or "n*or&a$"o &a$"on7 n7 'dr 'drolog"c olog"cal al and geo$e geo$ecn"c cn"cal al "n*or "n*or&a$" &a$"on7 on7 po$os e$c and sare $ese "n*or&a$"on !"$ $e PH Co-Developer5? Co-Developer5?

-"

E6ec$"ng a co&preens"ve $ecn"cal *eas"#"l"$' s$d'?

#"

Sppor$"ng $e Gr"d I&pac$ and Fac"l"$' s$d' and nego$"a$"ons !"$ NGCP and ERC? Sppor$"ng $e appl"ca$"on o* $e Env"ron&en$al Co&pl"ance Cer$"*"ca$e

d" e" f"

g" h"

(2"

Sppor$"ng $e PH Co-Developer or E0"$' Inves$or7 as $e case &a'#e7 $o ac"eve rece"p$ o* *"nal cons$rc$"on per&"ss"on? Sppor$"ng $e PH Co-Developer or E0"$' Inves$or7 as $e case &a'#e7 $o ac"eve reg"s$ra$"on o* $e SP@s !"$ oard o* Inves$&en$s .OI/7 rea o*  Cs$o&s .OC/ and o$er relevan$ agenc"es? %ead"ng $e e0"$' sales o* $e projec$ SP@? and %ead"ng $e projec$ F"nance s$rc$r"ng on $e #eal* o* $e Par$"es "* no$ done #' $e $"rd par$' e0"$' "nves$ors5

 j!" S"ngapore=s roles and respons"#"l"$"es respons"#"l"$"es are descr"#ed "n grea$er de$a"l de$a"l "n $e scope o* !or; ANNE+ , o* $"s Agree&en$5 .2/

 =uwi ingapore may under$a;e "$s role and respons"#"l"$"es $rog an' o* "$s "n$erna$"onal s#s"d"ar"es "$s or local P"l"pp"ne s#s"d"ar'7 as &a' #e re0"red #' a legal and $a6 op$"&"Bed scenar"o5

("

 j!" S"ngapore !"ll prov"de PH Co-developer !"$ $e j!" S"ngapore Serv"ces "n an appropr"a$e and $"&el' &anner5

(4 1o"n$ Roles and O#l"ga$"ons o* PH Co-developer and j!" S"ngapore Te l$"&a$e goal o* $"s Co-develop&en$ "s $o secre a FIT El"g"#"l"$' *or $e Projec$.s/5 T"s "ncldes o* sccess*l andCOC ncond"$"onal Cer$"*"ca$e o* Co&&erc"al"$' .COCey per permi mits ts and and &i#e &i#en# n#es es ha,e ha,e -een -een grant granted ed and and offta>e:inter#onne#tion agreements ha,e -een signed and appro,ed where pra#ti#a&  and with the pri prior or written written appro,a& appro,a& of =uw =uwii ingapo ingapore re the 'artie 'arties s sha&& sha&& se&& se&& the 'ro=e#t(s" to the third party e?uity in,estor or third party assets pur#haser as the #ase may -e with the most #ompe&&ing #ompe&&ing offer. offer. Both 'arties 'arties aim to ma%imi$e ma%imi$e the sa&e pri#e of the 'ro=e#t as we&& as the 6'C and GM pri#e to e?uity in,estors. 'ursuant to e#tion 2 hereof when it is p&anned to se&& the 'ro=e#t(s" at or -efore ho,e& *eady stage the 'arties agree to grant to =uwi ingapore or its designee the e%#&usi,e and irre,o#a-&e right of first refusa& and first option to pur#hase the 'ro=e#t or 'ro=e#ts &isted in ANNE+ ). At any time prior to the end of the Fe,e&opment tage  =uwi ingapore sha&& notify ' Co9de,e&oper in writing if it sha&& e%er#ise the said right of first refusa& and first option. n #ase no written noti#e is gi,en -y =uwi ingapore within the said period the 'arties sha&& -e free to se&& transfer to a third party e?uity in,estor or assets pur#haser.

(2" (2"

The The pur#h pur#has ase e sh sha& a&&& -e effe effe#t #ted ed throu through gh eith either er shar share e pur#h pur#has ase e agre agreem emen ents ts for for th the e 'DEs from ' Co9de,e&oper or a transfer of pro=e#t rights (asset pur#hase" and sha&& &i>ewise -e app&i#a-&e to a&& 'ro=e#ts &isted in ANNE+ ). )The pur#hase pri#e sha&& -e e?ua& to the “Develo “Development pment Fee” (as defined in #&ause ;"+. Any transa#tion #ontemp&ated -y this pro,ision is intended to o##ur no &ater than the Iinan#ia& C&ose. ANNE+ ) as o sa&e into of the or a 'ro=e#t dire#t&y &isted inor the #ase maya -e sha&& -e entered -y'ro=e#ts )' Co9de,e&oper+ indire#t&y through either share pur#hase agreement for the 'DEs shares with a third party 6?uity n,estor or a transfer of the 'ro=e#tEs assets and rights to a third party assets pur#haser without the written #onsent of =uwi ingapore or its designee. The pur#hase pri#e is defined as “Development Fee” (as defined in #&ause ;" .

(4" (4"

The The sa& sa&e e of of the the 'ro= 'ro=e# e#t( t(s" s" or a 'ro 'ro=e =e#t #t &ist &isted ed in ANNE+ ) as the #ase may -e made to a third party e?uity in,estor or assets pur#haser sha&& -e su-=e#t to the #ondition pre#ede pre #edent nt that su#h third third party party e?uity e?uity in,est in,estor or or assets assets pur#haser pur#haser is -ound -ound to e%e#ute 6'C and GM Contra#ts with =uwi ingapore and =uwi 'hi&ippines or other   =uwi #ontro&&ed #ompanies as defined -y =uwi ingapore.

(" ("

Gn#e Gn#e the pro=e pro=e#t #t is ho, ho,e& e& *eady *eady the the 'art 'artie ies s sh sha& a&&& wor> wor> towar towards ds trans transa# a#ti tion on #&ose #&ose with with potentia& third party e?uity n,estors or assets pur#haser.

(5" (5"

The 'ar 'arti ties es wi&& wi&& endea endea,o ,orr to #ooper #ooperat ate e and sati satisfy sfy the the re?ui re?uire reme ments nts of of the poten potenti tia& a& thir third d party e?uity in,estor or assets pur#haser. Memorandum of nderstanding

'age L of 20

 

(L"

After After a -iddin -idding g or negotia negotiatio tion n is #on#&ud #on#&uded ed with with =uwi =uwi ingap ingapore ore or third third party party e?uity e?uity in,esto in,estors rs or assets pur#haser the 'arties agree not to restrain or unreasona-&y withho& withho&d d the 'Ds from a##epting the most attra#ti,e offer from =uwi ingapore or ?ua&ified -ona fide third party e?uity in,estors or assets pur#haser.

( M O$p$7 Pased Develop&en$7 Develop&en$ Develop&en$ Scedle7 and dge$

(1" (1"

hor hort& t&y y after after signi signing ng this this Agr Agree eeme ment nt and gi,en gi,en the para parame meter ters s and &imi &imitat tatio ions ns of the the se&e#ted site =uwi ingapore wi&& present to ' Co9de,e&oper its re#ommendation for  tota& M@ Gutput (Gutput" and if app&i#a-&e a phased de,e&opment of su#h Gutput. The tota& Gutput fi&ed in the er,i#e Contra#t with the FG6 wi&& -e -ased on this re#ommendation -y =uwi ingapore.

(2"

pon pon signing ning this Agreem eement gi, gi,en the need to -e gener nerati tin ng e&e#tri#ity and e%porting e&e#tri#ity to the grid prior to Mar#h 201L (Fead&ine" -oth 'arties wi&& wor> out and agree on a detai&ed pro=e#t de,e&opment s#hedu&e and #onstru#tion s#hedu&e that aims #omp&etion of the ma%imum insta&&ed #apa#ity in M@ prior to the Fead&ine.

(4" (4"

pon pon sign signiing thi this Agree greem ment ent the the part partiies wi& i&&& de,e de,e&&op a de, de,e&op e&opme ment nt -udg -udget et

(" ("

(5" (5"

(Budget3" re?uired for the 'ro=e#t during the Fe,e&opment tage. Base Based d on an init initia ia&& asses assessm smen ent t the the 'art 'artie ies s esti estima mate te a ma%i ma%imu mum m Budge Budgett amoun amountt of  150  150000 000 for e%pens e%penses es (i.e. permits &and #onsu&tan#ies &ega& grid impa#t  power system studies et#." during the Fe,e&opment tage to a#hie,e among others the CGC from the FG6. Both 'arties wi&& endea,our to minimi$e the e%penses and sha&& prepare a detai&ed -udget and ,a&idate and appro,e e,ery e%penditure that wi&& o##ur at Fe,e&opment tage. Both the parties agree that any e%terna& de,e&opment #ost in#urred in#urred -y respe#ti,e respe#ti,e party sha&& -e -orne and paya-&e paya-&e -y 'D dire#t&y. dire#t&y. The 'arties a#>now&edge to wor> together in preparing the detai&ed Budget and fina& pro=e#t sa&e pri#e in order to a#hie,e #ommon o-=e#ti,e of ma%imi$ing Fe,e&opment Iee. n an eff effor ortt to mini minimi mi$e $e the the de,e& de,e&opm opment ent #os #osts ts of of the 'ro 'ro=e =e#t #ts s the the 'arti 'arties es agre agree e to ma%imi$e the usage of their respe#ti,e in9house #apa-i&ities and minimi$e using third party #onsu&tants. A&& in9house wor> done sha&& not -e #harged to the 'Ds and wi&& -e #onsidered as ser,i#e in >ind. f the ser,i#e is ne#essary and #an not -e pro,ided in9house then the 'arties may #ontra#t third party #onsu&tants to do the wor> through or for the 'Ds.

(L" (L"

Me#h Me#han anis ism m for paym paymen entt of su#h su#h de,e& de,e&op opme ment nts s #osts #osts sha& sha&&& -e agree agreed d upon upon -y the parties after the Budget for the 'ro=e#t has -een set.

( Develop&en$ Fee

(1"

Feeand T he Development 3 a monetary moneta ry ,a&ue e?ua&time to orand effe#ti,e&y effe# ti,e&y spent represents represents thepro=e#ts ris> ta>en management attention de,e&opment effort energy into the -y the 'arties to -e paid -y third party e?uity in,estor or assets pur#haser to a#?uire the 'ro=e#t

Memorandum of nderstanding

'age 7 of 20

 

and sha&& -e distri-uted to the parties as fo&&owsH Ior an IT rate of @h or higherH ' Co9de,e&oper

Juwi ingapore

Any Fe,e&opment Iee re#ei,ed from from su su#h #h th thir ird d part party y e?ui e?uity ty in,estor or assets pur#haser up to the amount of   200000:M@p F# Any Fe,e&opment Iee re#ei,ed from from su su#h #h th thir ird d part party y e?ui e?uity ty in,e in,est stor or or as asse sets ts pu pur# r#ha hase ser  r  e%#eeding the amount of  200000:M@p F#

(2" (2"

f the the IT IT rate rate is -e& -e&ow ow profi&e a##ess to water and other site re?uirements that wou&d &ower the #ost of so&ar pro=e#t de,e&opment and ma%imi$e M@h output. u#h te#hni#a& findings and =uwi ingaporeEs first #hoi#e and se#ond #hoi#e sites se&e#tion and re&e,ant te#hni#a& information wi&& -e shared with )' Co9de,e&oper+.

( )3 EPC and OJM

(1" (1"

The The 'art 'artie ies s agree agree that that the the 6'C 6'C and the the GM GM Cont Contra ra#t #ts s sha&& sha&& on& on&y y -e #on# #on#&u &ude ded d -etween =uwi ingapore =uwi 'hi&ippines or any of its designee and any of their  affi&iated group of #ompanies and the 'Ds.

( )) E6cls"v"$' Agree&en$ Agree&en$

(1"

Furing the the effe#ti,ity of this his Agreemen ementt ' Co9 o9d de,e&oper oper under ertta>es an and d un under derta> ta>es es to pro# pro#ur ure e the the ' Co9de Co9de,e ,e&o &ope perr Comp Compani anies es and their their re resp spe# e#ti ti,e ,e dire#tors emp&oyees #onsu&tants and agents ( Represen$a$"ves3" not toH (i" (i"

(2" (2"

so so&i &i#i #it t ente enterr into into or #o #ont ntin inue ue nego negoti tiat atio ions ns or any any #ont #ontra ra#t #tua ua&& agree agreeme ment nt or  understanding in respe#t of any matter re&ated on&y to the spe#ifi# 'ro=e#ts as set out in ANNE+ ) with any pro=e#t de,e&opers in,estors ''s 6'Cs 'D modu&e or in,erter manufa#turers or any other #ompanies or entities whi#h are or may -e #ompeting dire#t&y or indire#t&y with the -usiness of =uwi ingapore or of any an y =uwi Company.

Furi Furing ng the effe effe#t #ti, i,ity ity of of this this Agre Agreem emen ent t =uwi =uwi ingap ingapor ore e underta underta>e >es s and unde underta rta>e >es s to pro#ure the =uwi Companies not toH

Memorandum of nderstanding

'age < of 20

 

(i" (i"

so so&i &i#i #it t ente enterr into into or #o #ont ntin inue ue nego negoti tiat atio ions ns or any any #ont #ontra ra#t #tua ua&& agree agreeme ment nt or  understanding in respe#t of any matter re&ated on&y to the spe#ifi# 'ro=e#ts as set out in ANNE+ ) with any pro=e#t de,e&opers in,estors ''s or any other  #ompanies or entities whi#h are or may -e #ompeting dire#t&y or indire#t&y with the -usiness of )' Co9de,e&oper+.

(ii" (ii"

This This e%p& e%p&i# i#it it&y &y e%#& e%#&ud udes es the the to e?uity e?ui ty party sa&e sa&es s e?uity a#ti a#ti,i ,iti ties es of =uwi =uwat i inga in pore reinfor fotime. r the purpose of se&&ing the 'Ds third in,estors anygapo point

(4" (4"

The The 'art 'artie ies s agree agree that that the the e%#& e%#&us usi, i,it ity y unde undert rta> a>in ing g pr pro, o,id ided ed under under this this e#t e#tio ion n 11 pertains on&y to the 'ro=e#ts &isted in ANNE+ ).

(" ("

6a#h 6a#h and and e,ery e,ery o-&i o-&iga gati tion on in thi this s e#ti e#tion on 11 11 sha& sha&&& -e treat treated ed as a se separ parate ate o-& o-&ig igati ation on and sha&& -e se,era&&y enfor#ea-&e as su#h and in the e,ent of any o-&igation or  o-&igations -eing or -e#oming unenfor#ea-&e in who&e or in part su#h part or parts as are unenfor#ea-&e sha&& -e de&eted from this e#tion 11 and any su#h de&etion sha&& not affe#t the enfor#ea-i&ity enf or#ea-i&ity of a&& other parts of this e#tion 11.

(5" (5"

6a#h 6a#h of the the restri restri#t #tio ions ns #onta #ontain ined ed in thi this s e#ti e#tion on 11 11 are are #onsi #onsider dered ed -y the the 'arti 'arties es to -e reasona-&e in a&& the #ir#umstan#es as at the date hereof and it is here-y agreed and de#&ared if any one or moreinofa&&su#h sha&&for -e the =udged to -e ,oid as going -eyondthat what is reasona-&e the restri#tions #ir#umstan#es prote#tion of the interests of the 'arties -ut wou&d -e ,a&id if words were de&eted therefrom the said restri#tions sha&& -e deemed to app&y with su#h modifi#ations as may -e ne#essary to ma>e them ,a&id and effe#ti,e and any su#h modifi#ation sha&& not there-y affe#t the ,a&idity of any other restri#tion #ontained herein.

( ), Con*"den$"al"$'

(1" (1"

6a#h a#h 'art 'arty y wi&& i&& use use the the info inform rmat atiion pro, pro,iided ded -y the the ot othe herr 'ar arty ty so so&&e&y e&y fo forr th the e purposes set out in this Agreement. The 'arties agree to safeguard >eep se#ret and prote#t any #onfidentia& or proprietary information whi#h they re#ei,e and to hand&e su#h su#h info inform rmat atio ion n #onf #onfid iden entia tia&&&&y y and with with due #are #are and fo forr the so&e so&e purpo purpose se of  e,a&uating the re#ei,ed information or performing or imp&ementing this Agreement.

(2" (2"

n parti parti#u #u&a &arr =uwi =uwi ingap ingapor ore e wi&& wi&& not use any any #onfi #onfiden denti tia& a& or prop propri rieta etary ry infor informa mati tion on pro,ided -y ' Co9de,e&oper for purposes not re&ating to the 'ro=e#ts.

(4"

n parti parti#u& #u&ar ar ' ' Co9de, Co9de,e&o e&oper per wi&& wi&& not use any #onfid #onfidenti entia& a& or or propr propriet ietary ary inf inform ormati ation on pro,ided -y =uwi ingapore for purposes not re&ating to the 'ro=e#ts.

(4" (4"

=uwi =uwi ing ingap apor ore e sha&& sha&& -e -e entit entit&e &ed d to pass pass inf infor orma mati tion on to a" =uwi =uwi Compa Compani nies es and and -" su-# su-#on ontra tra#t #tor ors s and other other au autho thori ri$e $ed d thir third d pa parti rties es whi# whi#h h ar are e re re?ui ?uired red for the de,e&opment of the 'ro=e#ts under the #ondition that these parties are -ound to treat the information #onfidentia&&y and do not ha,e the right to use the information for their  own Companies. purposes or for any other purpose not authori$ed -y =uwi ingapore and other   =uwi

Memorandum of nderstanding

'age 10 of 20

 

Ior purposes of this Agreement the terms  j!" Co&pan'3 or  j!"  j!" Co&pan"es3 sha&& mean me an any #omp #ompany any #orp #orpor orati ation on or othe otherr &e &ega& ga& or natur natura& a& perso person n or en enti tity ty (w (whet hethe her  r  in#orporated or unin#orporated" whi#h #ontro&s is #ontro&&ed -y or is under the #ommon #ontro& of =uwi ingapore or any of =uwi ingaporeEs #urrent or future u&timate shareho&ders the #urrent shareho&ders of =uwi ingapore -eing Ired Jung and Matthias @i&&en-a#her. The term con$rol3 means the possession dire#t&y or indire#t&y of the power to dire#t or #ause the dire#tion of the management and po&i#ies of a person whether through the ownership of  ,oting se#urities -y #ontra#t or otherwise and in#&udes (i" ownership dire#t&y or indire#t&y of  at &east fifty per#ent (50K" of the shares or other e?uity se#urities in issue of su#h person (ii" possession dire#t&y or indire#t&y of at &east fifty per#ent (50K" of the ,oting power of su#h person or (iii" the power dire#t&y or indire#t&y to appoint a ma=ority of the mem-ers of the -oard of dire#tors or any other simi&ar go,erning -ody of su#h person and the terms con$roll"ng3 and con$rolled3 ha,e meanings #orre&ati,e to the foregoing.

( )2 Rela$"ons"p #e$!een $e Par$"es

(1" (1"

This This Agr Agree eeme ment nt is neit neithe herr inten intended ded to to #reate #reate nor sha& sha&&& it -e #ons #onstru trued ed as #re #reati ating ng e%#ept to the e%tent a&&owed and pro,ided under this AgreementHH (i" (i" a =o =oin intt ,e ,ent ntur ure e or or part partne ners rshi hip p -et -etwe ween en th the e 'ar 'arti ties es (ii (ii" (iii (iii"" (i," (i,"

any any o-&i o-&iga gati tion on to e%e# e%e#ut ute e a 'ro=e ro=e#t #t any any o-&i o-&iga gati tion on to #o #ont ntin inue ue dis#u dis#uss ssio ions ns or nego negoti tiat atio ions ns with with respe respe#t #t to any potentia& agreement -etween the 'arties or an agre agreem emen entt to to ent enter er into into any any agre agreem emen ent. t.

(2" (2"

o 'art 'arty y sha&& sha&& -e enti entit& t&ed ed to in#u in#urr any &ia&ia-i& i&it ity y or o-&ig o-&igat atio ion n on -eha -eha&f &f of any any other  other  'arty or to dispose of or otherwise a&ienate p&edge or en#um-er any assets of the other 'arty.

(4" (4"

6a#h 6a#h 'arty 'arty warr warrant ants s and repr repres esent ents s to to the the other other 'arty 'arty thatH thatH (i" (i" it is is du&y du&y in# in#or orpor porat ated ed and and ,a& ,a&id id&y &y e%i e%ist stin ing g under under th the e &aws &aws of of its its =uri =urisd sdi# i#ti tion on of  of  in#orporation and has the re?uisite #orporate power and authority and has o-tained a&& ne#essary #orporate appro,a&s to e%e#ute this Agreement and to (ii" (ii"

perform its o-&igations hereunder and the the e%e# e%e#uti ution on and and de&i, de&i,ery ery of of this this Agr Agreem eement ent does does not not #onf #onf&i&i#t #t with with or or resu resu&t &t iin n a -rea#h or ,io&ation of any pro,ision of its #onstitution or memorandum and arti#&es of asso#iation any #ontra#t under whi#h it or any of its assets is -ound or any &aw or pertinent ru&es and regu&ations.

( ): %"a#"l"$'

The re#e re#ei, i,in ing g party party of any in infor forma mati tion on pro, pro,id ided ed un under der thi this s Agree Agreeme ment nt (t (the he Rece"v"ng Par$'3" a#>now&edges that the dis#&osing dis#&osing party of su#h information information (the  D"sclos"ng Par$'3" has neither made any representations nor gi,en any warranties as to the a##ura#y or  #omp&eteness of the information for the *e#ei,ing 'artyEs purposes. The *e#ei,ing 'arty agrees that the Fis#&osing 'arty sha&& not -y ,irtue of this Agreement ha,e any &ia-i&ity or 

Memorandum of nderstanding

'age 11 of 20

 

responsi-i&ity for errors or omissions in or any de#isions made -y the *e#ei,ing 'arty in re&ian#e on any information dis#&osed under this Agreement.

( )4 E6penses and Ta6es

(1" (1"

6a#h a#h 'arty arty sha& sha&&& pay pay its own own #o #ost sts s and and e%pe e%pens nses es re re&&at atin ing g to the the nego negoti tiat atio ion n preparation and e%e#ution -y it of this Agreement in#&uding the #osts of any ad,i#e pro,ided -y any professiona& ad,isors engaged -y it un&ess otherwise agreed in writing -y the 'arties.

(2"

6a#h 6a#h 'arty 'arty sha&& sha&& pay pay any any and and a&& a&& ta%es ta%es ari arisin sing g from from its its e%e# e%e#uti ution on of of this this Agre Agreeme ement nt in in a##ordan#e with the pro,isions of app&i#a-&e &aw.

( ) Ar#"$ra$"on

(1" The 'arties 'arties sha&& use a&& reasonareasona-&e &e efforts efforts to reso&, reso&,e e any dispute dispute that may arise arise under this Agreement through good faith negotiations. (2" n the e,ent that the 'arties 'arties are una-&e to rea#h a reso& reso&ution ution within within ninety (e the terms of this Agreement effe#ti,e as -etween the 'arties.

ACCEPTED AND AGREED TO7

The 'arties hereto -y du&y authori$ed representati,es ha,e e%e#uted this MG in two #ounterparts.

Memorandum of nderstanding

'age 14 of 20

 

 NNNNNNNNNNNNNNNNNNNNNNNNNNNNN  NNNNNNNNNNNNNNNN NNNNNNNNNNNNN

NNNNNNNNNNNNNNNNNNNNNNNNNNNNNN NNNNNNNNNNNNNNN NNNNNNNNNNNNNNNN  N 

ameH Amiram @o=#ie#h C&aus *oth Tit&eH *egiona& Fire#tor Asia 'a#ifi#  =uwi ingapore *enewa-&e 6nergies 'te. td

ameH Maria Ce&ia * Montfort Tit&eH 'resident egros egros ' o&ar n#

Memorandum of nderstanding

'age 1 of 20

 

ANNE+ )

The ugar&andia  This pro=e#t is &o#ated at a site intended for a free9fie&d so&ar photo,o&tai# pro=e#t p&ant with a tota& insta&&ed #apa#ity of appro%imate&y 120 M@p F# in Muni#ipa&ity of Ba#o&od egros G##identa& 'hi&ippines 9 1L; he#tares. (hereinafter referred to as the pro=e#t3". The 'ro=e#ts wi&& -e #onne#ted to /C' grid (LD or 14;>D" and it is p&anned that the 'ro=e#ts app&y for Ieed9in9Tariff with tentati,e tariff at
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