Xx. Xxxxxxx Xxxx
April 25, 1997
Page 1
ENTERPRISE FUNDING CORPORATION
c/x XXXXXXX XXXXX MONEY MARKETS INC.
World Financial Center - South Tower
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
April 25,1997
Xx. Xxxxxxx Xxxx
Performance Funding Corporation
000 Xxxxx Xxxxxxxxx Xxxxxx
Xxxxxxxxxxxx, Xxxxxxx 00000
Dear Xxxxxxx:
This letter is to confirm our agreement to amend the Transfer and Administration
Agreement ("TAA") between Union Acceptance Corporation (the "Collection Agent"),
Performance Funding Corporation (the "Transferor") and Enterprise Funding
Corporation (the "Company") dated July 24, 1995 and as amended to date. The TAA
shall be amended as follows:
In Section 1.1, the definition of "Transfer Price" shall be amended so
that "80%" shall read "87%".
In Section 1.1, the definition of "Termination Date" shall be amended
so that "July 18, 1997" contained in clause (v) of the definition shall
read "July 18, 1998".
Section 2.2(b) shall be amended so that the reference to "80%" in
clause (i) shall be changed to "87%".
Section 2.5(a)(iii) shall be amended so that the reference to "80%" in
clause (A) shall be changed to "87%".
Section 2.9(b) shall be amended so that the references to "80%" shall
be changed to "87%".
Section 2.13(a)(vi) shall be amended so that the reference to "80%" in
clause (i) shall be changed to "87%".
Section 2.14(a) shall be amended so that the reference to "80%" in
clause (i) shall be changed to "87%".
Section 2.17(a) shall be amended so that the reference to "80%" in
clause (i)(x) shall be changed to "87%".
Xx. Xxxxxxx Xxxx
April 25, 1997
Page 2
Section 3.1 shall be amended so that the reference to "80%" in clause
(m) shall be changed to "87%".
Section 7.1(k) shall be amended so that the reference to "80%" shall be
changed to "87%".
The Transferor hereby represents and warrants that the representations and
warranties of the Transferor set forth in Section 3.1 of the Transfer and
Administration Agreement are true and correct as of the data hereof (except
those representations and warranties set forth therein which specifically relate
to an earlier date). All other terms and conditions of the Agreement not amended
by this letter agreement shall remain unchanged and in full force and effect.
For future reference, this letter agreement will constitute Amendment Number 4
to the TAA.
If this letter correctly sets forth our agreement, please sign the enclosed
duplicate originals and return to Xxxxx Xxxx, NationsBank Investment Banking,
NationsBank Corporate Center, 10th Floor, Charlotte, North Carolina 28255 by May
1, 1997.
Sincerely,
ENTERPRISE FUNDING CORPORATION
By: /s/ X. Xxxxxx Xxxxxx
Name: X. Xxxxxx Xxxxxx
Title: Vice President
Accepted and Agreed.
PERFORMANCE FUNDING CORPORATION UNION ACCEPTANCE CORPORATION
as Transferor as Collection Agent
By: /s/ Xxxxxxx X. Xxxx By: /s/ Xxxx Xxxxxxxxxx
Name: Xxxxxxx X. Xxxx Name: Xxxx Xxxxxxxxxx
Title: Vice President Title: President
Date: 4/29/97 Date: 4/29/97
