SunEdison and its direct subsidiary, SunEdison Semiconductor entered into the first amendment of its credit agreement dated May 27, 2014 with its lenders and Goldman Sachs, as administrative agent.

The first amendment provides for the termination, release and discharge of all the obligations of MEMC Korea Company (MKC), a subsidiary of the Sun Edison and a guarantor under the credit agreement and other loan documents and the release of Goldman Sach’s liens on MKC’s assets and the equity interests in MKC.

In connection with the amendment, the Sun Edison made a $40 million prepayment of the outstanding principal of the term loan and a 1% call premium. The prepayment was completed on December 30, 2015. Sun Edison will be obligated to make two additional prepayments, each in an amount of $5 million, on the dates that are 10 months and 13 months after the effective date of the Amendment.

Finally, as part of the amendment, the lenders’ aggregate commitment under Sun Edison’s revolving credit facility was reduced from $50 million to $40 million.