Contract
Exhibit 10.1
000 Xxxxxxx Xxxxxx
18th Floor
New York, NY 98001
September 11, 2015
Xx. Xxxxxx Xxxxxx
Xxxxxx Xxxxxx Holdings, Inc.
Money Train Title Loans, LLC
On Track, LLC
0000 Xxxxx Xxxxxxx
Sandy, UT 84070
Re: Termination of Membership Interest Purchase Agreement
Dear Xxxxxx:
As you know, on March 6, 2015, Monrovia Auto Finance, Inc. (formerly Monrovia Money Train, Inc.) entered into a Membership Interest Purchase Agreement (the "Purchase Agreement") with you, Xxxxxx Xxxxxx Holdings, Inc., Money Train Title Loans, LLC and On Track, LLC.
Monrovia Auto Finance, you and the other parties to the Purchase Agreement now desire to terminate the Purchase Agreement pursuant to and in accordance with Section 8.1(a) thereof. By signing this agreement below, Monrovia Auto Finance, you and the other parties to the Purchase Agreement hereby confirm the termination of the Purchase Agreement with the effect described in Section 8 thereof.
| Very truly yours, | ||
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| MONROVIA AUTO FINANCE, INC. |
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By: | /s/ Xxxxxx X. Xxxxxxx |
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| Xxxxxx X. Xxxxxxx |
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| Chief Executive Officer |
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ACCEPTED AND AGREED AS OF
THE DATE FIRST ABOVE WRITTEN:
MONEY TRAIN TITLE LOANS, LLC |
| ON TRACK, LLC |
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By: | /s/ Xxxxxx Xxxxxx |
| By: | /s/ Xxxxxx Xxxxxx |
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Name: | Xxxxxx Xxxxxx |
| Name: | Xxxxxx Xxxxxx |
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Title: | Manager |
| Title: | Manager |
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XXXXXX XXXXXX HOLDINGS, INC. |
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By: | /s/ Xxxxxx Xxxxxx |
| By: | /s/ Xxxxxx Xxxxxx |
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Name: | Xxxxxx Xxxxxx |
| Name: | Xxxxxx Xxxxxx |
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Title: | President |
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