Sunnova Energy Enters Material Definitive Agreement

TL;DR

Sunnova signed a big deal, details TBD.

AI Summary

On January 20, 2025, Sunnova Energy International Inc. entered into a material definitive agreement. The filing does not provide specific details on the agreement or any associated dollar amounts or parties involved.

Why It Matters

This filing indicates a significant new contract or partnership for Sunnova Energy, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the material definitive agreement.

Key Players & Entities

• Sunnova Energy International Inc. (company) — Registrant
• January 20, 2025 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share NOVA New York Stock
• $7.0 million — which would have required approximately $7.0 million to be deposited in the Liquidity Reserv
• $500,000 — the effectiveness of the SLA Amendment, $500,000 was deposited into the Liquidity Reserv

Filing Documents

• nova-20250120.htm (8-K) — 30KB
• exhibit101-ezopamendmentno7.htm (EX-10.1) — 1921KB
• 0001772695-25-000005.txt ( ) — 2346KB
• nova-20250120.xsd (EX-101.SCH) — 2KB
• nova-20250120_lab.xml (EX-101.LAB) — 21KB
• nova-20250120_pre.xml (EX-101.PRE) — 12KB
• nova-20250120_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Amendment to SLA Credit Agreement On January 20, 2025, Sunnova EZ-Own Portfolio, LLC ("EZOP"), a wholly owned subsidiary of Sunnova Energy International Inc. (the "Company") entered into that certain Amendment No. 7 to Second Amended and Restated Credit Agreement (SLA) (the "SLA Amendment"), which, among other things, further amends that certain Second Amended and Restated Credit Agreement, dated as of August 2, 2023 (as previously amended, the "SLA Credit Agreement"), by and among EZOP, certain other subsidiaries of the Company party thereto, the lenders and funding agents party thereto and Atlas Securitized Products Holdings, L.P., as administrative agent. The SLA Amendment amended the SLA Credit Agreement to, among other things, (i) modify the definition of "Liquidity Reserve Account Required Balance" to provide that a Liquidity Reserve Step Up Event must be continuing for thirty (30) days before the Liquidity Reserve Account Required Balance is required to be increased (the "Liquidity Reserve Adjustment"), which provided relief until the next determination date from a Liquidity Reserve Step Up Event determination made in January 2025 based on a solar loan delinquency test which would have required approximately $7.0 million to be deposited in the Liquidity Reserve Account; (ii) add an Event of Default for the failure to complete one or more Takeout Transactions for 95% of the Eligible Solar Loans within sixty (60) days of the Amendment No. 7 Effective Date, (iii) require the application of amounts in the cashflow waterfall to be applied to repay, in full, the Advances (thereby preventing any payments at lower levels in the waterfall and preventing the distributions of cash by the Borrower), (iv) require the proceeds of Takeout Transactions to be applied to repay, in full, the Advances, (v) add an Event of Default for the failure to either restructure the Parent's Affiliates that provide billing and col

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following materials are filed as exhibits to this Current Report on Form 8-K. Exhibit No. Description 10.1 Amendment No. 7 to Second Amended and Restated Credit Agreement (SLA), among Sunnova EZ-Own Portfolio, LLC, Sunnova SLA Management, LLC, Sunnova Asset Portfolio 7 Holdings, LLC, the Lenders party thereto, the Funding Agents party thereto and Atlas Securitized Products Holdings, L.P., as administrative agent, dated as of January 2 0 , 202 5 . 104 Cover Page Interactive Data File (embedded within the inline XBRL document). __________________ Portions of this exhibit have been omitted in accordance with Items 601(a)(5) and 601(b)(10) of Regulation S-K. We agree to furnish a copy of any omitted schedule or exhibit to the SEC upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SUNNOVA ENERGY INTERNATIONAL INC. Date: January 24, 2025 By: /s/ Eric Williams Eric Williams Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR