8/2/2019 Summary of Term Sheets

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Term Sheet Summary

The Term Sheet documents for Georgia Power, MEAG, and Oglethorpe Power consist of two

main parts a conditional commitment letter and the Term Sheets themselves. The conditional

commitment letters provide that the Term Sheets set forth the terms and conditions of DOEs loan

guarantee offer to each company and discuss various representations, warranties, and covenants

associated with the loan guarantee.

The Term Sheets list the principal terms and conditions of the loan guarantee including funding

commitments, amortization, interest rates, DOE fees, and credit subsidy fees. Much of this financial

information is redacted under FOIAs trade secrets exemption. Remarkably, DOE claims that the terms

and conditions of the loan guarantee were set by the applicants themselves.