EXHIBIT 10.1.10
AMENDMENT NO. 1
TO
LOAN AGREEMENT
DATED OCTOBER 1ST, 2003
BETWEEN
ORMAT TECHNOLOGOES, INC. ("OTI")
AND
ORMAT INDUSTRIES LTD. ("OIL")
WHEREAS Since the date of the Loan Agreement Lender has made additional advances
under the agreement the Parties have agreed to amend the Loan Agreement
effective as of June 30, 2004 as follows:
1. Schedule A is hereby replaced by Schedule A1 attached hereby.
2. Schedule B is hereby replaced by Schedule B1 attahced hereby.
Other than the above, the original agreement remains in full force and effect.
IN WITNESS THEREOF, the Parties hereto have signed this Amendment on September
20, 2004.
ORMAT TECHNOLOGIES, INC.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
--------------------------
Its: Vice President
-------------------------
ORMAT INDUSTRIES LTD.
By: /s/ Illegible
--------------------------
Its: President
-------------------------
1
SCHEDULE A1
Advances to Ormat Technologies, Inc.
By Ormat Industries Ltd. on:
DATE LOAN AMOUNT
08.04.2003 12,000,000
16.4.2003 15,000,000
02.10.2003 5,000,000
30.11.2003 51,000,000
31.12.2003 43,339,468
23.01.2004 6,000,000
11.2.2004 10,847,532
TOTAL 143,187,000
2
SCHEDULE B1
-----------------------------------------------------------------------------------
Date Aggregate ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ # ▇ ▇▇▇▇▇▇▇ # ▇ ▇▇▇▇▇▇▇ # ▇
-----------------------------------------------------------------------------------
2/28/05 7,000,000 2,400,000 3,000,000 1,000,000
-----------------------------------------------------------------------------------
12/31/05 15,046,750
-----------------------------------------------------------------------------------
2/28/06 7,000,000 2,400,000 3,000,000 1,000,000
-----------------------------------------------------------------------------------
6/5/06 9,600,000
-----------------------------------------------------------------------------------
12/31/06 15,046,750
-----------------------------------------------------------------------------------
2/28/07 7,000,000 2,400,000 3,000,000 1,000,000
-----------------------------------------------------------------------------------
6/5/07 9,600,000
-----------------------------------------------------------------------------------
12/31/07 15,046,750
-----------------------------------------------------------------------------------
2/28/08 7,000,000 2,400,000 3,000,000 1,000,000
-----------------------------------------------------------------------------------
6/5/08 9,600,000
-----------------------------------------------------------------------------------
12/31/08 15,046,750
-----------------------------------------------------------------------------------
2/28/09 7,000,000 2,400,000 3,000,000 1,000,000
-----------------------------------------------------------------------------------
6/5/09 9,600,000
-----------------------------------------------------------------------------------
6/5/10 9,600,000
-----------------------------------------------------------------------------------
143,187,000 12,000,000 15,000,000 5,000,000
-----------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Date Advance # ▇ ▇▇▇▇▇▇▇ # ▇ ▇▇▇▇▇▇▇ # ▇ ▇▇▇▇▇▇▇ # ▇
-----------------------------------------------------------------------------------
2/28/05 600,000
-----------------------------------------------------------------------------------
12/31/05 10,834,867 1,500,000 2,711,883
-----------------------------------------------------------------------------------
2/28/06 600,000
-----------------------------------------------------------------------------------
6/5/06 9,600,000
-----------------------------------------------------------------------------------
12/31/06 10,834,867 1,500,000 2,711,883
-----------------------------------------------------------------------------------
2/28/07 600,000
-----------------------------------------------------------------------------------
6/5/07 9,600,000
-----------------------------------------------------------------------------------
12/31/07 10,834,867 1,500,000 2,711,883
-----------------------------------------------------------------------------------
2/28/08 600,000
-----------------------------------------------------------------------------------
6/5/08 9,600,000
-----------------------------------------------------------------------------------
12/31/08 10,834,867 1,500,000 2,711,883
-----------------------------------------------------------------------------------
2/28/09 600,000
-----------------------------------------------------------------------------------
6/5/09 9,600,000
-----------------------------------------------------------------------------------
6/5/10 9,600,000
-----------------------------------------------------------------------------------
51,000,000 43,339,468 6,000,000 10,847,532
-----------------------------------------------------------------------------------
3