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SUNPOWER CORP FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

August 28, 2014



Item 1.01. Entry into a Material Definitive Agreement.

First Amendment to Revolving Credit Agreement

On August 26, 2014, SunPower Corporation ("SunPower") and its subsidiaries SunPower Corporation, Systems; SunPower North America LLC; and SunPower Capital, LLC entered into the First Amendment (the "Amendment") to the Revolving Credit Agreement with Credit Agricole Corporate and Investment Bank, as "Administrative Agent," and the other lenders party thereto, dated as of July 3, 2013 (as amended from time to time, the "Agreement").

The Amendment extends the maturity date of the Agreement from July 3, 2016 to August 26, 2019. The Amendment also revises the definition of "EBITDA," which, among other things, is used in connection with calculating certain financial covenants in the Agreement. The revised definition of EBITDA includes amounts from certain utility and commercial transactions whereby SunPower or a subsidiary receives cash proceeds from the direct or indirect sale of a portion of its interests in a project entity to a non-affiliate (as defined in the Agreement), which proceeds might otherwise be required to be deferred under applicable U.S. GAAP rules.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant.



The information provided in Item 1.01 of this report is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Description

10.1 First Amendment to Revolving Credit Agreement, dated August 26, 2014, by and among SunPower Corporation, its subsidiaries SunPower Corporation, Systems; SunPower North America LLC; and SunPower Capital, LLC, and Credit Agricole Corporate and Investment Bank and the other lenders party thereto.



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Source: Edgar Glimpses


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