derrtined against any ion lability or expense arising from honoring tie Agreement. 14. The sdnature(s) berew Woe Me brabrie(s) of the Manager(s), I Corrpany is manager-managed. the sgraire(s) of me Mercers) d Company is member-managed, or the signabre(s) of the Offwer(s) d Company .s governed by a board

endment #4 Page 450 of 868 orgf..c.‘66.56” 11. Transactions with related entities (a) Curing the three months ended March 31. 2015 and 2014. the Corrpany performed the following traneacbcos with related ensiles. which were performed under rnwkel condlons For the three months ended 31 March 2016 sgo

do was warted the commercial operation status on December 1. 2012 by the Instituto Nicaraguense de Eneigla Energy sales began in Decerrter 3312 The Corrpany has entered into two power purchase agreements (PPAs) with Dstntudora de Electncidad del Sur. S A (Oosur) and Debituclora de Electnodad del Norte. S

Siteidtary guarantors interest under the Bridge Fealty has variable interest rate options based et, either base rate loans or °yodeller loans at the Corrpany's elector, The Merest rate payable under base rates based upon an adjusted base rate (equal to the creator of (a) the base rate (prime rate) in effe

itle cri certain portions of land held by the Corrceny. on whch the scrar energy systems are installed since the dale of purchase of Ire sad are The Corrpany believes that there are no irregularities in its Owners/hp tee are based on the ortolan 01 as legal coiner believes Mal the filcehhood or an unravou

value !trough gofit or loss loans and accounts payable. a as derivatives designated as hedging instruments in an effective hedge as appropriate The Corrpany determines the dassictation of financial liabilities at octal recognition All financial liabilities are recognized lethally at fat value (n the cas

hensne itoome 2014 2013 3/.1000) 3/4000) Cost d generation. note 76 3.721 3637 Administrative expenses, note 77(a) 7 3.721 3,644 (1) The Corrpany has contracted multerek irsurarce polices that carer in a sufficient manner the entrety of the Santa Cruz I and II Hydroelectec Plants and the Huasa

s must record a legal reserve equal to 5% of the net income fa the year until reaching 10% c4 the common share capital. DAidends CI, June 2014 the Corrpany declared dividends n cash for 1531.450.000, equivalent to USW 75 per quota (2013. USS1.000.000 equivalent to USS0 52 per qxta). 12. Decommissioning

as the intention to lisprzete them for the net arncent or to realize the asset and settle the Sabel,/ simultaneousty 4.16.1 Currant Income tax The Corrpany carculates income lax by apptyng adfustmentsfrom certain dents erected by or suttecl to income tax. on conformity with current tax regulabons Ofrent

Variable interest rate US Uter6 months US Libor-6 months US Libor-6 months US Ubor-6 months 14. Decommissioning and restoration provisions The Corrpany has recognized a provision for decommissioning obtgaters associated with its wind farm. In determeing the fair value of the provision. assumptiors a

— — 1.333 138 Decormussioning proration — — 238184 238.184 S 3.037,921 5 1644.030 5 83,626.328 $ 88308.849 22. Capital management The Corrpany's main obtective egardng caplet management is to ensure that t maintains a solid credt ratio and healthy frandal caplet ratio& to Support its busine

riodic base in order to ferrety detect potential cash shortages or excesses to support its operatons The following table sommenzes the memory of the Corrpany's firercer lialalreee based on payment commitments As Of December 31, 2014 0 to 6 Months (Ho 12 months More than 1 year Total Wes and loans