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Exhibit 10.28B
Execution Version
SECOND AMENDMENT TO CREDIT AGREEMENT
SECONDAMENDMENTTOCREDITAGREEMENT(this“Amendment”),datedasofDecember31,2015,tothatcertainABLCreditAgreement,
datedasofJune10,2015(asamended,supplementedorotherwisemodifiedthroughthedatehereof,the“CreditAgreement”),amongTeslaMotors,Inc.(the“
Company”,andtogetherwitheachWholly-OwnedDomesticSubsidiaryoftheCompanythatbecomesaU.S.BorrowerpursuanttothetermsoftheCredit
Agreement,collectively,the“U.S.Borrowers”),TeslaMotorsNetherlandsB.V.(“TeslaB.V.”,andtogetherwitheachWholly-OwnedDutchSubsidiaryofTesla
B.V.thatbecomesaDutchBorrowerpursuanttothetermsoftheCreditAgreement,collectively,the“DutchBorrowers”;andtheDutchBorrowers,togetherwith
theU.S.Borrowers,collectively,the“Borrowers”),thelendersfromtimetotimepartythereto(the“Lenders”),DeutscheBankAGNewYorkBranch,as
AdministrativeAgent(the“AdministrativeAgent”)andasCollateralAgent,andtheotheragentspartythereto.
RECITALS :
WHEREAS,theCompanyintendstoformNewB.V.(asdefinedbelow);
WHEREAS,TeslaB.V.willtransfercertainofitsassets(excludingassetsincludedintheDutchBorrowingBase)toNewB.V;
WHEREAS,pursuanttoSection13.12oftheCreditAgreement,theCreditAgreementmaybeamendedwiththewrittenconsentoftheRequired
LendersandeachCreditPartypartytotheCreditAgreement;and
WHEREAS,thepartiesnowwishtoamendtheCreditAgreementincertainrespects.
AGREEMENT:
NOW,THEREFORE,inconsiderationofthepremisesandmutualcovenantscontainedherein,thepartiesheretoagreeasfollows:
Section1.DefinedTerms.Unlessotherwisespecificallydefinedherein,eachtermusedherein(includingintherecitalsabove)hasthemeaning
assignedtosuchtermintheCreditAgreement.
Section2.Amendments.
2.1AmendmentstoSection1.1oftheCreditAgreement.ThefollowingdefinitionsshallbeinsertedintoSection1.1oftheCredit
Agreementinappropriatealphabeticalorder:
“NewB.V.”meansTeslaInternationalB.V.,acompanyorganizedunderthelawsoftheNetherlandsandthatis(orwillbewhenformed)aWholly-
OwnedSubsidiaryofTeslaMotorsNetherlandsCoöperatiefU.A.
“TaxSharingAgreement”meansataxsharingagreement,enteredintoamongNewB.V.,TeslaMotorsNetherlandsCoöperatiefU.A.,TeslaB.V.and
anyotherDutchAffiliatesofTeslaB.V.whomaybecomemembersofafiscalunity(fiscaleenheid)withTeslaB.V.andtheotherDutchCreditPartiesfromtime
totimepartythereto.
“SecondAmendment”meansthatcertainSecondAmendment,datedasofDecember31,2015,amongtheCompany,TeslaB.V.,theAdministrative
AgentandtheLenderspartythereto.