Amount of the Credit Line. The aggregate amount of credit available pursuant to this Agreement (the “Credit Line”) is $60,000,000.00.
Amount of the Credit Line. The aggregate amount of the credit available pursuant to this Agreement (the “Credit Line”) shall be as follows:
(a) From August 4, 2017 through December 31, 2017 - $275,000,000.00; and
(b) From January 1, 2018 through December 31, 2018 - $350,000,000.00.
D. Dealership will pay the Ally Parties a one-time non-refundable “Sixth Amendment Commitment Fee” equal to $[***], payable on the effective date of this Amendment.
E. Effective as of August 1, 2017, the Interest rate is 1-M LIBOR Index Rate plus 365 basis points. This modifies Subsection III.B(1) of the IFSA.
F. All other provisions of the IFSA remain unchanged and in full force and effect as written. In the event of a conflict between the terms of the IFSA and this Amendment, the terms of this Amendment prevail.
G. Except as provided above, the IFSA and all other agreements between each of the Ally Parties and the Dealership remain in full force and effect as written.
H. If any provision of this Amendment is held to be invalid or unenforceable by a court of competent jurisdiction, all other provisions remain valid and enforceable.
I. This Amendment:
a. May be modified only by a writing signed by all parties.
b. May be signed in counterparts, each of which is deemed an original, and all of which taken together constitute one and the same agreement. The signatures of the parties, exchanged via fax or e-mail, shall constitute and be deemed original signatures for all purposes.
c. Binds and inures to the benefit of the parties and their respective successors and assigns.
d. Constitutes the entire agreement of the parties with respect to its subject matter.
Amount of the Credit Line. As of the Effective Date of this Agreement, the aggregate amount of credit that may be extended by the Ally Parties pursuant to this Agreement (the “Credit Line”) shall not exceed $450,000,000 . The Ally Parties commit to make the Credit Line available to the Dealership during the Term of this Agreement, up to the amount of the Monthly Floorplan Allowance, as defined herein.
Amount of the Credit Line. The aggregate amount of credit available pursuant to this Agreement (the “Credit Line”) is $1,250,000,000.00.
Amount of the Credit Line. The aggregate amount of credit available pursuant to this Agreement (the “Credit Line”) is $2,250,000,000.00.
C. Effective as of December 1, 2021, a new Subsection III.A.8 is added to the IFSA as follows:
Amount of the Credit Line. As of the effective date of this Agreement, the aggregate amount of credit that may be extended by the Ally Parties pursuant to this Agreement (the “Credit Line”) is $30,000,000.00. Further details about the numbers, amounts and types of Vehicles allocated under the Credit Line will be provided by the Ally Parties. Either or both of the Ally Parties may modify the amount of credit it is willing to extend under the Credit Line including the numbers, amounts, and types of Vehicles allocated under it and any such modification will not constitute an amendment to this Agreement. As such, the Credit Line, including the numbers, amounts, and types of Vehicles, is subject to change from time to time, at the discretion of either or both of the Ally Parties.
Amount of the Credit Line. The aggregate amount of credit available pursuant to this Agreement (the “Credit Line”) is: $2,200,000,000.00. Other than as provided in the Non-Participated IFSA, at no time will the Ally Parties be obligated to make advances under both this Agreement and the Non-Participated IFSA.
Amount of the Credit Line. The aggregate amount of the credit available pursuant to this Agreement (the “Credit Line”) shall be as follows:
(a) From August 4, 2017 through December 31, 2017 — $275,000,000.00;
(b) From January 1, 2018 through November 1, 2018 — $350,000,000.00;
(c) From November 2, 2018 through October 31, 2019 — $650,000,000.00; and
(d) From November 1, 2019 through October 31, 2020 — $950,000,000.00.
D. Dealership will pay the Ally Parties a one-time non-refundable “Eighth Amendment Commitment Fee” equal to [***], payable on the effective date of this Amendment.
E. Effective as of November 1, 2019, the applicable Interest rate shall be determined monthly, as follows: Whenever the average principal amount outstanding under the Credit Line is less than or equal to $500,000,000.00 for a calendar month, the interest rate for the following calendar month shall be 1-M LIBOR Index Rate plus an “Increment” of 340 basis points. Whenever the average principal amount outstanding under the Credit Line is greater than $500,000,000.00 for a calendar month, the interest rate for the following calendar month shall be 1-M LIBOR Index Rate plus an “Increment” of 315 basis points. (By way of example, if the average principal balance outstanding under the Credit Line during October 2019 is $450,000,000.00, the Interest rate for November 2019 will be 1-M LIBOR Index Rate plus 340 basis points.) This modifies Subsection III.B(1) of the IFSA.
F. Section III.A.4(b) of the IFSA is amended and restated in its entirety as follows:
Amount of the Credit Line. As of the Effective Date of this Agreement, the aggregate amount of credit that may be extended by the Ally Parties pursuant to this Agreement (the “Credit Line”) shall not exceed $500,000,000. The Ally Parties commit to make the Credit Line available to Dealership during the Term of this Agreement, up to the amount of the Monthly Floorplan Allowance, as defined herein. i. The “Monthly Floorplan Allowance” shall be determined monthly by the Ally Parties and communicated to Dealership within the first two business days of each month. The Monthly Floorplan Allowance shall be equal to the product of:
i. the greater of (1) five (5) times the aggregate number of units sold retail by Dealership during the most recent month for which such information is available, or (2) the aggregate number of units sold retail by Dealership during the five (5) most recent months for which such information is available; and
ii. the greater of (1) the average outstanding floorplan balance of all Vehicles on floorplan as of the immediately preceding month-end, or (2) the average monthly outstanding floorplan balance of all Vehicles on floorplan as of the month-end for the immediately preceding five (5) months; in each case, the total floorplan outstanding divided by the total number of units on floorplan.
Amount of the Credit Line. The aggregate amount of the credit available pursuant to this Agreement (the “Credit Line”) is $200,000,000.
D. Dealership will pay the Ally Parties a one-time non-refundable “Commitment Fee” equal to [***] [calculated as [***] of the Credit Line provided under Section III.A.3 above: ($200,000,000 x [***] = [***])], payable on the effective date of this Amendment.
E. All other provisions of the IFSA remain unchanged and in full force and effect as written. In the event of a conflict between the terms of the IFSA and this Amendment, the terms of this Amendment prevail.
F. Except as provided above, the IFSA and all other agreements between each of the Ally Parties and the Dealership remain in full force and effect as written.
G. If any provision of this Amendment is held to be invalid or unenforceable by a court of competent jurisdiction, all other provisions remain valid and enforceable.
H. This Amendment:
a. May be modified only by a writing signed by all parties.
b. May be signed in counterparts, each of which is deemed an original, and all of which taken together constitute one and the same agreement. The signatures of the parties, exchanged via fax or e-mail, shall constitute and be deemed original signatures for all purposes.
c. Binds and inures to the benefit of the parties and their respective successors and assigns.
d. Constitutes the entire agreement of the parties with respect to its subject matter. [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission.
