PURCHASE AGREEMENT Dated as of February 15, 2012 by and between COMMERCIAL CREDIT GROUP INC., as Originator, and CCG RECEIVABLES IV, LLC, as Depositor

Exhibit 10.15

EXECUTION VERSION

 

 

PURCHASE AGREEMENT

Dated as of February 15, 2012

by and between

COMMERCIAL CREDIT GROUP INC.,

as Originator,

and

CCG RECEIVABLES IV, LLC,

as Depositor

 

 

ARTICLE I DEFINITIONS

   1   

SECTION 1.1

Certain Defined Terms

   1   

SECTION 1.2

Other Terms

   1   

SECTION 1.3

Computation of Time Periods

   2   

ARTICLE II SALE AND PURCHASE OF RECEIVABLES

   2   

SECTION 2.1

Selection, Sale and Contribution of Receivables and other Sold Assets

   2   

SECTION 2.2

Intent of the Parties; Grant of Security Interest

   3   

SECTION 2.3

No Recourse

   3   

ARTICLE III CONSIDERATION AND PAYMENT

   3   

SECTION 3.1

Purchase Price

   3   

SECTION 3.2

Substitution of Receivables

   4   

ARTICLE IV ADMINISTRATION

   4   

SECTION 4.1

Breach of Representations

   4   

SECTION 4.2

Actions Evidencing Purchases

   4   

SECTION 4.3

Power of Attorney

   4   

ARTICLE V REPRESENTATIONS AND WARRANTIES

   5   

SECTION 5.1

Mutual Representations and Warranties

   5   

SECTION 5.2

The Originator’s Additional Representations and Warranties

   6   

SECTION 5.3

Notice of Breach

   11   

SECTION 5.4

Repurchases

   11   

ARTICLE VI AFFIRMATIVE COVENANTS

   12   

SECTION 6.1

Affirmative Covenants of the Depositor

   12   

SECTION 6.2

Affirmative Covenants of the Originator

   12   

SECTION 6.3

Negative Covenants of the Originator

   14   

ARTICLE VII INDEMNIFICATION

   15   

SECTION 7.1

Indemnification by the Originator

   15   

ARTICLE VIII MISCELLANEOUS PROVISIONS

   17   

SECTION 8.1

Waivers; Amendments

   17   

SECTION 8.2

Notices

   17   

SECTION 8.3

Governing Law

   17   

SECTION 8.4

Integration

   17   

SECTION 8.5

Severability of Provisions

   17   

SECTION 8.6

Counterparts; Facsimile Delivery

   17   

SECTION 8.7

Binding Effect; Assignment

   17   

SECTION 8.8

Costs, Expenses and Taxes

   18   

SECTION 8.9

No Proceedings; Limited Recourse

   18   

SECTION 8.10

Further Assurances

   18   

 

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Schedules
Schedule 1    Contract Schedule
Schedule 2    Originator Information
Schedule 3    Notices
Schedule 4    Name and Account Number of Lock-Box Bank and Lock-Box Account

 

Exhibits
Exhibit A    Form of Contract

 

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PURCHASE AGREEMENT

This PURCHASE AGREEMENT (as amended, supplemented otherwise modified and in effect from time to time, this “Agreement”), dated as of February 15, 2012, is entered into by and between CCG RECEIVABLES IV, LLC, a Delaware limited liability company (the “Depositor”) and COMMERCIAL CREDIT GROUP INC., a Delaware Corporation (the “Originator”).

WHEREAS,

The Originator wishes to sell or contribute to the Depositor, and the Depositor desires to purchase from the Originator, all of the Originator’s right, title and interest in, to and under the Sold Assets.

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

SECTION 1.1 Certain Defined Terms. Capitalized terms used but not defined in this Agreement are defined in the Indenture or in the Sale and Servicing Agreement. As used in this Agreement, the following terms shall have the following meanings:

“Originator Indemnified Amounts” has the meaning set forth in Section 7.1.

“Originator Indemnified Parties” has the meaning set forth in Section 7.1.

“Sale and Servicing Agreement” means that certain Sale and Servicing Agreement dated February 15, 2012 by and among Commercial Credit Group Inc., as Servicer and as Originator, CCG Receivables IV, LLC, as Depositor, CCG Receivables Trust 2012-1, as Issuer, Portfolio Financial Servicing Company, as the Back-Up Servicer, and U.S. Bank National Association, as the Indenture Trustee.

“Sold Assets” (a) the Pool Receivables and Related Security, (b) the Collections (including, for the avoidance of doubt, Excluded Amounts), (c) any security interest in the Equipment held by the Originator, (d) the rights to proceeds from casualty insurance policies covering the Equipment; (e) the Originator’s rights under this Agreement; (f) all present and future claims, demands, causes of actions in respect of the foregoing, and (g) all proceeds of the foregoing, sold or contributed by the Originator to the Depositor hereunder, together with the Related Security and proceeds relating thereto.

SECTION 1.2 Other Terms. All terms defined directly or by incorporation herein shall have the defined meanings when used in any certificate or other document delivered pursuant thereto unless otherwise defined therein. For purposes of this Agreement and all such certificates and other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined herein, and accounting terms partly defined herein to the extent not defined, shall have the respective meanings given to them under, and shall be construed in accordance with, GAAP; (b) terms used in Article 9 of the UCC in the State of New York, and not

specifically defined herein, are used herein as defined in such Article 9; (c) references to any amount as on deposit or outstanding on any particular date means such amount at the close of business on such day; (d) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement (or the certificate or other document in which they are used) as a whole and not to any particular provision of this Agreement (or such certificate or document); (e) references to any Section, Schedule or Exhibit are references to Sections, Schedules and Exhibits in or to this Agreement (or the certificate or other document in which the reference is made) and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (f) the term “including” means “including without limitation”; (g) references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (h) references to any agreement refer to that agreement as from time to time amended or supplemented or as the terms of such agreement are waived or modified in accordance with its terms; (i) references to any Person include that Person’s successors and assigns; and (j) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.

SECTION 1.3 Computation of Time Periods. Unless otherwise stated in this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including”, the words “to” and “until” each means “to but excluding”, and the word “within” means “from and excluding a specified date and to and including a later specified date.”

ARTICLE II

SALE AND PURCHASE OF RECEIVABLES

SECTION 2.1 Selection, Sale and Contribution of Receivables and other Sold Assets. On the terms and subject to the conditions set forth herein, the Originator does hereby sell, transfer, assign, set over and otherwise convey to the Depositor, without recourse (subject to the Originator’s obligations set forth herein) and the Depositor hereby purchases, all right, title and interest of the Originator in and to the Sold Assets, whether now owned or existing or hereafter acquired or arising or acquired as follows:

(a) The Pool Receivables sold and/or contributed pursuant to this Agreement will be Eligible Receivables as of the Closing Date. The Originator will insure that no such Eligible Receivable shall be subject to any adverse selection which could reasonably be expected to be unfavorable to the Depositor, the Issuer or the Indenture Trustee.

(b) The transfer of the Sold Assets pursuant to this Agreement shall be effective as of the date hereof. On the date hereof, the Originator will xxxx its computer files relating to such Sold Assets, together with its other related books and records, with a notification indicating that such Sold Assets have been sold or contributed, as the case may be, to the Depositor and are no longer assets of the Originator.

(c) The Related Security and any proceeds relating to any Pool Receivable which are received after the Cut-Off Date shall be sold or contributed at the same time as such Pool Receivable is sold or contributed hereunder, whether the applicable Related Security and proceeds exist at such time or arise or are acquired thereafter.

 

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SECTION 2.2 Intent of the Parties; Grant of Security Interest.

(a) The Originator and the Depositor intend the transaction hereunder to be a true sale and contribution of the Sold Assets by the Originator to the Depositor for all purposes, providing the Depositor and its transferees with the full risks and benefits of ownership of the Sold Assets (such that the Sold Assets would not be property of the Originator’s estate in the event of the Originator’s bankruptcy).

(b) If, notwithstanding the intent of the parties or any other provision hereof, the Sold Assets conveyed hereunder are construed to constitute property of the Originator or such conveyance is not treated as a sale by the Originator to the Depositor for all purposes, then this Agreement also is intended by the parties to be, and hereby is, a security agreement within the meaning of the UCC; and the conveyance by the Originator provided for in this Agreement shall be treated as the Grant of, and the Originator hereby Grants, to the Depositor a security interest in, to and under all of the Originator’s right, title and interest in, to and under all the Sold Assets and all proceeds relating thereto, to secure the payment and performance of the Originator’s obligations under this Agreement and the other Transaction Documents or as may be determined in connection therewith by Applicable Law. The Originator shall take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in, and not to constitute a sale of, the Sold Assets, such security interest would be deemed to be a perfected first priority security interest in favor of the Depositor (and its assignee) under Applicable Law and shall be maintained as such throughout the term of this Agreement.

(c) The Originator acknowledges that the Depositor will, pursuant to the Sale and Servicing Agreement sell or contribute the Sold Assets and its rights under this Agreement to the Issuer and the Issuer will, pursuant to the Indenture, assign and pledge the Sold Assets and its rights under this Agreement and certain other property and rights to the Indenture Trustee for the benefit of the Noteholders. The Originator consents to such, sale, assignment and pledge.

SECTION 2.3 No Recourse. Except as specifically provided in this Agreement, the purchase and sale of the Sold Assets under this Agreement shall be without recourse to the Originator.

ARTICLE III

CONSIDERATION AND PAYMENT

SECTION 3.1 Purchase Price. The purchase price for each Receivable and the Related Security therefor shall be not less than fair market value of such Receivable and the Related Security. The Depositor shall pay the Originator the purchase price with respect to each Receivable and the Related Security by transfer of funds, to the extent that the Depositor has received funds available for that purpose pursuant to the Sale and Servicing Agreement. If the Depositor did not receive sufficient funds to pay the purchase price for any Sold Assets, the remaining Sold Assets, to the extent the purchase price therefor is not paid in full, shall be deemed to have been transferred by the Originator to the Depositor as a capital contribution, in return for an increase in the value of the equity interest of the Depositor held by the Originator.

 

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SECTION 3.2 Substitution of Receivables. The Originator may substitute a Pool Receivable with a new Receivable pursuant to Section 3.3 of the Sale and Servicing Agreement.

ARTICLE IV

ADMINISTRATION

SECTION 4.1 Breach of Representations. If any of the representations or warranties of the Originator set forth in Section 5.2(II) was untrue as of the Closing Date in any material respect with respect to a Pool Receivable, the Originator shall pay to the Issuer, on behalf of the Depositor, in immediately available funds an amount equal to the entire Net Book Value of such Pool Receivable as provided in Section 5.4.

SECTION 4.2 Actions Evidencing Purchases.

(a) The Originator agrees that from time to time, at its expense, it shall promptly execute and deliver all further instruments and documents, and take all further action that the Depositor, its assignee or transferee may reasonably request in order to perfect, protect or more fully evidence the purchases hereunder. Without limiting the generality of the foregoing and in addition to the requirements of Section 2.2(b), the Originator shall, upon the request of the Depositor, its assignee or transferee execute and file such financing or continuation statements, or amendments thereto or assignments thereof, and such other instruments or notices, as may be necessary or appropriate.

(b) The Originator hereby authorizes the Depositor or its assignee to file one or more financing or continuation statements, and amendments thereto and assignments thereof, relative to all the Sold Assets now existing or hereafter arising in the name of the Originator.

SECTION 4.3 Power of Attorney.

(a) The Originator hereby irrevocably appoints the Depositor and its assigns as its attorney-in-fact with right of substitution so that the Depositor and its assigns or any Person designated by the Depositor or its assigns shall be authorized, without need of further authorization from the Originator to take any action and to execute any instrument that the Depositor or its assigns (or such designee) may be directed to take or may be necessary or advisable to accomplish the transfer of the Sold Assets pursuant to this Agreement, including to ask, demand, collect, xxx for, recover, compromise, receive and give acquittance and receipts for moneys due and to become due under or in connection with the Sold Assets, to receive, endorse and collect any drafts or other documents in connection therewith, and to file any claims or take any action or institute any proceedings that the Depositor or its assigns (or such designee) may deem to be necessary or desirable for the collection thereof or to enforce compliance with the terms and conditions of, or to perform any obligations or enforce any rights of the Originator in respect of, the Sold Assets.

 

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(b) The Originator hereby confirms and ratifies any and all actions taken by the Depositor or its assigns or any other Person empowered by the Depositor or its assigns as such Person’s attorney-in-fact pursuant to the powers granted hereunder.

(c) This special power of attorney shall be deemed coupled with an interest and cannot be revoked by the Originator until the Notes are finally and fully paid and performed; it being understood and agreed that assignees of the Depositor, other than the Servicer, shall not exercise the powers granted under this Section 4.3 except during the existence of a Default or Event of Default.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

SECTION 5.1 Mutual Representations and Warranties. Each of the Originator (for the benefit of the Depositor and its assignees) and the Depositor represents and warrants to the other that on the Closing Date and on the date of the execution and delivery of this Agreement:

(a) Corporate Existence and Power. It (i) is a corporation (with respect to the Originator) or a limited liability company (with respect to the Depositor) duly organized, validly existing and in good standing under the Laws of its jurisdiction of organization as specified in the preamble herein, (ii) is not organized under the Laws of any other jurisdiction or governmental authority, (iii) has all corporate or limited liability company power and all licenses, authorizations, consents and approvals of all Official Bodies required to own or lease its properties and to carry on its business in each jurisdiction in which its business is now and proposed to be conducted (except where the failure to have any such licenses, authorizations, consents and approvals would not individually or in the aggregate have a Material Adverse Effect) and (iv) is duly qualified to do business in, and is in good standing in, every other jurisdiction in which the nature of its business or ownership or lease of its properties requires it to be so qualified, except where the failure to be so qualified or in good standing would not have a Material Adverse Effect.

(b) Due Authorization; Contravention. The execution, delivery and performance by it of this Agreement and the other Transaction Documents to which it is a party (i) are within its corporate or limited liability company powers, (ii) have been duly authorized by all necessary corporate, shareholder, or limited liability company action, as the case may be, (iii) require no action by or in respect of, or filing with, any Official Body or official thereof (except as contemplated by Section 4.2), (iv) do not contravene, conflict with or constitute a default under (A) its organizational documents, (B) any Law applicable to it, (C) any material contractual restriction binding on or affecting it or its property or (D) any order, writ, judgment, award, injunction, decree or other instrument binding on or affecting it or its property, and (v) will not result in the creation or imposition of any Lien (other than Permitted Liens created under the Transaction Documents) upon or with respect to its property, except as contemplated hereby and by the Transaction Documents, which could not reasonably be expected to have a Material Adverse Effect.

(c) Binding Effect. Each of this Agreement and the other Transaction Documents to which it is a party has been duly executed and delivered and, upon payment of the purchase price

 

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as set forth herein, shall constitute the legal, valid and binding obligation of it, enforceable against it in accordance with the respective terms of such agreement, subject to applicable bankruptcy, insolvency, moratorium or other similar laws affecting the rights of creditors generally and to general principles of equity; regardless of whether such enforceability is considered in a proceeding in equity or at law.

SECTION 5.2 The Originator’s Additional Representations and Warranties. The Originator represents and warrants to the Depositor as of the Closing Date and on the date of the execution and delivery of this Agreement, on which the Depositor is relying on in acquiring the Pool Receivables and which will survive the sale of the Pool Receivables to the Depositor, the sale of the Pool Receivables to the Issuer pursuant to the Sale and Servicing Agreement and pledge thereof to the Indenture Trustee pursuant to the Indenture:

(I) General Representations

(a) Accuracy of Information. All written information heretofore furnished by the Originator to the Depositor (or its assignee) for purposes of or in connection with this Agreement or any transaction contemplated hereby is true, complete and accurate in every material respect, on the date such information is stated or certified, and such information shall not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein, in the light of the circumstances under which they were made, not materially misleading.

(b) Tax Status; Sale Treatment. The Originator (i) has filed all tax returns (federal, state and local) required to be filed, (ii) has paid or made adequate provision for the payment of all taxes, assessments and other governmental charges (except for taxes, assessments or other governmental charges that are being contested in good faith by the Originator through appropriate proceedings and with respect to which adequate reserves have been maintained in accordance with GAAP), and (iii) will not account for the sale of the Sold Assets pursuant to this Agreement other than as a sale by the Originator to the Depositor (except to the extent otherwise required for United States federal income tax purposes under the Code or by the application of consolidated financial reporting principles under GAAP). No tax lien has been filed and to the Originator’s knowledge, no tax lien claim is being asserted against any of its properties which could reasonably be expected to have a Material Adverse Effect.

(c) Action, Suits. The Originator is not in violation of any order of any Official Body or arbitrator. There are no actions, suits, litigation, investigations or proceedings pending, or to the knowledge of the Originator threatened, against or affecting the Originator or any Affiliate of the Originator or their respective properties, in or before any Official Body or arbitrator which could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

(d) Use of Proceeds. No proceeds of any sale or contribution hereunder shall be used by the Originator (i) to acquire any security in any transaction which is subject to Section 13 or 14 of the Securities Exchange Act of 1934, as amended, (ii) to acquire any equity security of a class which is registered pursuant to Section 12 of such act, (iii) for any other purpose that violates applicable Law, including Regulations T, U or X of the Federal Reserve Board or (iv) for any purpose that violates Applicable Law.

 

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(e) Principal Place of Business; Chief Executive Office; Location of Records. The Originator is a corporation duly organized under the laws of the state of Delaware. The principal place of business and chief executive office of the Originator and the offices where the Originator keeps all its Records relating to the Pool Receivables, are located at the address(es) described on Schedule 3 or such other locations notified to the Depositor in accordance with the terms of this Agreement.

(f) Subsidiaries; Tradenames, Etc. (i) As of the date hereof, the Originator has only the Subsidiaries and divisions listed on Schedule 2 (which Schedule may be updated from time to time by notice from the Originator to the Depositor, the Indenture Trustee and the Noteholders), and (ii) the Originator has, within the last five (5) years, operated only under the tradenames identified on Schedule 2, and, within the last five (5) years, has not changed its name other than the tradenames identified on Schedule 2, merged with or into or consolidated with any other Person or been the subject of any proceeding under the Bankruptcy Code. Schedule 2 also lists the correct Federal Employer Identification Number of the Originator.

(g) Not an Investment Company. The Originator is not, and is not controlled by, an “investment company” within the meaning of the Investment Company Act of 1940, or is exempt from all provisions of such act.

(h) ERISA. Neither the Originator nor any ERISA Affiliate (i) maintains any pension plan or (ii) contributes to any multiemployer plan.

(i) Lock-Box Accounts. All Obligors in respect of Pool Receivables sold or contributed hereunder have been instructed as of the date hereof to make payment to a Lock-Box Account. The names and addresses of all the Lock-Box Banks, together with the account numbers of the Lock-Box Accounts at the Lock-Box Banks, are specified on Schedule 4, as updated by the Originator from time to time by notice from the Originator to the Depositor. The Originator shall at all times have the ability to identify and segregate all of the Collections from other funds on deposit in the Lock-Box Account and cause the same to be deposited into the Collection Account within five (5) Business Days after receipt of such Collections.

(j) Bulk Sales. No transaction contemplated hereby requires compliance with any bulk sales act or similar law.

(k) Nonconsolidation. The Originator has taken and will continue to take all actions required to maintain the Depositor’s status as a separate legal entity, including, without limitation, (i) not holding the Depositor out to third parties as other than an entity with assets and liabilities distinct from the Originator and the Originator’s other Subsidiaries; (ii) other than by reason of owning the membership interest of the Depositor, not holding itself out to be responsible for any decisions or actions relating to the Depositor (except for decisions or actions as a member); (iii) preparing unaudited separate financial statements for the Depositor (which may be consolidated with the Originator); (iv) taking such other actions as are necessary on its part to ensure that all procedures required by its and the Depositor’s certificate of formation and

 

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limited liability company agreement, respectively, are duly and validly taken; (v) keeping correct and complete records and books of account and minutes; and (vi) not acting in any manner that could foreseeably materially mislead others with respect to the Depositor’s separate identity. In addition to the foregoing, the Originator has taken and will continue to take all necessary actions so that:

(A) the Originator shall maintain corporate records and books of account and corporate minutes separate from those of the Depositor;

(B) the Originator shall maintain an arm’s-length relationship with the Depositor and shall not hold itself out as being liable for any Indebtedness of the Depositor (other than certain indemnification obligations of the Depositor provided herein);

(C) the Originator shall keep its assets and its liabilities wholly separate from those of the Depositor (except with respect to any commingled Collections to the extent permitted under this Agreement, the Sale and Servicing Agreement or the Indenture);

(D) the Originator shall at all times limit its transactions with the Depositor only to those expressly permitted hereunder or under any other Transaction Document; and

(E) the Originator shall comply with (and cause to be true and correct) each of the facts and assumptions relating to the Originator contained in the opinion of Xxxxxx Xxxxxx Xxxxxxxx LLP delivered pursuant to the terms of the Transaction Documents.

(l) Preference; Voidability. The Depositor shall have given reasonably equivalent value to the Originator in consideration for the sale to the Depositor of the Sold Assets from the Originator, and such sale shall not have been made for or on account of an antecedent debt owed by the Originator to the Depositor and no such sale is or may be voidable under any section of the Bankruptcy Code.

(m) Compliance with Law. The Originator has complied with all Applicable Laws to which it may be subject, (including, without limitation, laws, rules and regulations relating to truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy) except where the failure to comply would not have a Material Adverse Effect.

(n) Representations and Warranties in other Transaction Documents. Each of the representations and warranties made by the Originator contained in the Transaction Documents (other than this Agreement) is true, complete and correct in all respects and it hereby makes each such representation and warranty to, and for the benefit of, the Depositor as if the same were set forth in full herein.

(o) Solvency. The Originator was not insolvent at the time of, and did not become insolvent as a result of, the transfer of the Sold Assets to the Depositor as contemplated hereunder.

 

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(II) Representations With Respect to the Pool Receivables.

(a) Good Title; Perfection.

(i) Immediately preceding the sale or contribution hereunder, the Originator held good, indefeasible and marketable title to, was the sole owner of all of the Sold Assets, free and clear of all Liens (other than any Permitted Liens). This Agreement constitutes a valid sale, transfer and assignment of the Sold Assets to the Depositor from the Originator and, upon the purchase or contribution, as the case may be, hereunder the Depositor shall acquire a valid, enforceable and perfected ownership interest in the Sold Assets free and clear of any Lien (other than any Permitted Liens).

(ii) Notwithstanding the immediately preceding sentence, if the conveyance by the Originator to the Depositor of the Sold Assets hereunder were construed not to be a sale or contribution, this Agreement creates a valid security interest in favor of the Depositor (and its assignee) in the Sold Assets consisting of all the Pool Receivables sold hereunder, the Related Security, the related Equipment and the proceeds relating thereto, free and clear of all Liens (other than Permitted Liens) (provided, however, that no representation is made herein with respect to creation or perfection of any security interest in goods or other assets pledged by an Obligor other than the Equipment); all financing statements and other documents required to be recorded or filed in order to perfect the security interest of the Depositor in the Sold Assets have been filed, and the Depositor (and its assignee) has, subject to Permitted Liens, a perfected first priority security interest in all the Sold Assets sold hereunder, and the proceeds relating thereto, free and clear of all Liens (other than the Permitted Liens).

(b) Nature of Pool Receivables. Each Pool Receivable will be an Eligible Receivable as of the Closing Date. As of the date hereof, (i) the Originator has no knowledge of any fact that would cause it or should have caused it to expect any payments on such Pool Receivable will not be paid in full when due or that is reasonably likely to cause or result in any Material Adverse Effect in respect of such Pool Receivable and (ii) to the extent that the first Scheduled Payment of a Pool Receivable is due on or after the Cut-Off Date, the first Scheduled Payment of such Pool Receivable is not more than 31 days late. In the event of a prepayment of a Pool Receivable, there is no obligation to rebate money to the related Obligor.

(c) No Adverse Selection. Each Pool Receivable sold or contributed hereunder was not and will not be subject to any adverse selection, which could reasonably be expected to be materially unfavorable to the Depositor, the Issuer, the Indenture Trustee, any Noteholder or any assignee thereof.

(d) Perfection Representations. The Originator is the sole owner of all of the Pool Receivables sold hereunder listed in Schedule 1 free and clear of all Liens (other than Permitted Liens). The Originator further represents:

(i) General.

(A) The Pool Receivables sold hereunder constitute “accounts,” “instruments,” “general intangibles,” or “tangible chattel paper” within the meaning of the UCC.

 

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(B) The Originator has taken all steps necessary in each jurisdiction in which the Pool Receivables were originated to perfect its security interest against the Obligors in the Equipment securing the Pool Receivables sold hereunder.

(C) The Originator has received all consents and approvals required by the terms of the Pool Receivables to the sale or contribution to, or pledge of a security interest in the Pool Receivables to, the Depositor.

(ii) Creation. The Originator owns and has good and marketable title to the Sold Assets immediately prior to the sale or contribution or pledge thereof in accordance with the terms of this Agreement free and clear of any Lien, claim or encumbrance of any Person, excepting other Permitted Liens and liens for taxes, assessments or similar governmental charges or levies that are not yet due and payable or as to which any applicable grace period shall not have expired, or that are being contested in good faith by proper proceedings and for which adequate reserves have been established, but only so long as foreclosure with respect to such a Lien is not imminent and the use and value of the property to which the Lien attaches is not impaired during the pendency of such proceeding.

(iii) Perfection. The Originator has caused the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the sale and/or contribution of the Sold Assets from the Originator to the Depositor.

(iv) Priority.

(A) Other than the transfer of the Sold Assets to the Depositor hereunder, the Originator has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets. The Originator has not authorized the filing of, nor is aware of any financing statements against the Originator that include a description of collateral covering the Sold Assets transferred hereunder other than any financing statement relating to the transfer of the Sold Assets hereunder or that has been or is being terminated in connection with the execution of this Agreement. The Originator is not aware of any judgment or tax lien filings against it.

(B) With respect to Sold Assets which constitute “tangible chattel paper” or “instruments” within the meaning of the UCC, the Originator has delivered to the Custodian all original copies of the instruments that constitute or evidence the Sold Assets transferred hereunder. The Contracts and instruments that constitute or evidence the Sold Assets do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Depositor.

(v) Survival of Perfection Representations. Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection representations contained in this Section 5.2(II)(d) shall be continuing, and remain in full force and effect until the occurrence of the Final Payment Date.

 

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(vi) No Waiver. The Originator (A) shall not, without obtaining the prior written consent of the Indenture Trustee waive any of these perfection representations; (B) shall provide the Depositor, the Issuer and the Indenture Trustee with prompt written notice of any breach of these perfection representations, and shall not, without obtaining the prior written consent of the Depositor, the Issuer and the Indenture Trustee (acting at the direction of the Noteholders) waive a breach of any of these perfection representations.

SECTION 5.3 Notice of Breach. Upon discovery by the Originator of a breach of any of the foregoing representations and warranties, the Originator shall give prompt written notice to the Depositor and the Indenture Trustee of such discovery; provided, however, that failure of the Originator to give such notice shall not relieve the Originator of liability for such breach.

SECTION 5.4 Repurchases.

(a) If a Responsible Officer of the Originator has actual knowledge, or receives written notice, of a breach of the representations or warranties made by the Originator pursuant to Sections 5.2(II) that materially and adversely affects any Pool Receivable and such breach has not been cured in all material respects by the last day of the second full Collection Period (or, at the Originator’s option, the first full Collection Period) after the Responsible Officer obtains actual knowledge or is notified of such breach, the Originator will repurchase such Pool Receivable from the Depositor by remitting (or causing to be remitted) an amount equal to the Repurchase Amount for such Receivable to the Collection Account on the Business Day preceding the Payment Date after such Collection Period.

(b) The sole remedy for a breach of the representations and warranties of the Originator contained in Section 5.2(II) is to require the Originator to repurchase such materially and adversely affected Pool Receivable. None of the Servicer, the Owner Trustee, the Indenture Trustee or the Depositor will have any duty to conduct an investigation as to the occurrence of any condition requiring the repurchase of any Receivable pursuant to this Section 5.4.

(c) When the Repurchase Amount is included in Available Amounts for a Payment Date, the Depositor will without further action, be deemed to have sold and assigned to the Originator as of the last day of the second preceding Collection Period all of the Depositor’s right, title and interest in and to the Pool Receivable repurchased by the Originator pursuant to Section 5.4(a) and security and documents relating to such Pool Receivable. Such sale will not require any action by the Depositor and will be without recourse, representation or warranty by the Depositor except the representation that the Depositor owns such Pool Receivable free and clear of any Liens other than Permitted Lien. Upon such sale, the Servicer will xxxx its computer records to indicate that such Receivable is no longer a Pool Receivable and take any action necessary or appropriate to evidence the sale of such Receivable, free from any Lien of the Depositor, the Issuer or the Indenture Trustee.

 

11

ARTICLE VI

AFFIRMATIVE COVENANTS

SECTION 6.1 Affirmative Covenants of the Depositor. At all times from the date hereof to and including the Final Payment Date, the Depositor agrees solely as to itself that it will not take any action that is inconsistent with the terms of this Agreement or the Sale and Servicing Agreement.

SECTION 6.2 Affirmative Covenants of the Originator. At all times prior to the Final Payment Date, the Originator, for the benefit of the Depositor and its assignees, shall do each of the following:

(a) Conduct of Business; Ownership. The Originator shall carry on and conduct its business in substantially the same manner and in substantially the same fields of enterprise as it is presently conducted and do all things necessary to remain duly organized, validly existing and in good standing as a domestic organization in its jurisdiction of organization and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted except where failure to so comply would not have a Material Adverse Effect. The Depositor shall at all times be a wholly-owned Subsidiary of the Originator;

(b) Compliance with Laws, Etc. The Originator shall comply with all Laws to which it or its properties may be subject and preserve and maintain its corporate existence, rights, franchises, qualifications and privileges except where failure to so comply, preserve or maintain would not have a Material Adverse Effect;

(c) Inspection of Records.

(i) Prior to the occurrence of a Default or an Event of Default and once per calendar year at expense of the party requesting such audit or inspection, the Originator shall at any time during regular business hours, upon reasonable notice, as requested by the Depositor, permit the Depositor or its appointees (including, without limitation, the Issuer or the Indenture Trustee on behalf of the Noteholders, and its appointees and designees) to (A) examine and make copies of and take abstracts from all books, records and documents (including computer tapes and disks) relating to the Sold Assets, including the related Contracts and Pool Receivables and (B) visit the offices and properties of the Originator for the purpose of examining such materials described in clause (A), and to discuss matters relating to the Sold Assets or the Originator’s performance hereunder, under the Contracts and under the other Transaction Documents to which it is a party with any of the officers, directors, or in the presence of an officer, employee or independent public accountant, of the Originator having knowledge of such matters.

(ii) During a Default or an Event of Default, the Depositor and its assigns (including the Issuer and the Indenture Trustee on behalf of the Noteholders) may conduct an unlimited number of audits of the Originator for any of the purposes set forth in (i) above, as necessary, at the expense of the Originator.

 

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(d) Notice of the Depositor’s and Indenture Trustee’s Interest. In the event that the Originator sells or otherwise transfers any interest in accounts receivable or any other financial assets (other than as contemplated by the Transaction Documents), any computer tapes or files or other documents or instruments provided by the Originator in connection with any such sale or transfer shall, to the extent that such computer tapes, files or other documents or instruments contain any references to the Sold Assets, disclose the Depositor’s ownership of the Sold Assets and the Indenture Trustee’s security interest therein;

(e) Sale Treatment. The Originator shall not account for, or otherwise treat, the transactions contemplated herein in any manner other than as a sale of the Sold Assets by the Originator to the Depositor (except to the extent otherwise required (i) for United States federal income tax purposes under the Code or (ii) by the application of consolidated financial reporting principles under GAAP);

(f) Protection of Security Interest of the Depositor and the Indenture Trustee. The Originator agrees that it shall, from time to time, at its expense, promptly execute and deliver all instruments and documents and take all actions as may be necessary or as the Depositor may reasonably request in order to perfect or protect the Depositor’s title in the Sold Assets or to enable the Depositor to exercise or enforce any of its rights hereunder. Without limiting the foregoing, the Originator shall, upon the request of the Depositor (i) execute and file such financing or continuation statements or amendments thereto or assignments thereof (as otherwise permitted to be executed and filed pursuant hereto) as may be requested by the Depositor or the Indenture Trustee and (ii) xxxx its respective master data processing records and other documents with a legend describing the security interest granted to the Depositor in the Sold Assets. To the fullest extent permitted by Applicable Law, the Depositor (or its assignee or the Indenture Trustee) shall be permitted to sign and file continuation statements and amendments thereto and assignments thereof without the Originator’s signature. Carbon, photographic or other reproduction of this Agreement or any financing statement shall be sufficient as a financing statement;

(g) Taxes. The Originator will file all tax returns and reports required by law to be filed by it and will promptly pay all taxes and governmental charges at any time owing by it (other than any amount of tax the validity of which is currently being contested in good faith by appropriate proceedings and with respect to which reserves in accordance with GAAP have been provided on the books of such Person);

(h) Insurance. The Originator will cause the related Obligors to maintain an insurance policy with financially sound and reputable insurance companies covering all Equipment owned or leased by such Obligor in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. To the extent the Intercreditor Agreement sets forth any insurance requirements on Equipment and other property of the Originator, the Originator shall at all times ensure that insurance policies are maintained in compliance with any such requirements set forth in the Intercreditor Agreement;

(i) Collections Received. The Originator shall hold in trust and deposit immediately, but in any event not later than five (5) Business Days of its receipt thereof, all Collections from time to time received by it into the Lock-Box Account, or if so required by the Sale and Servicing Agreement or the Indenture, to the Collection Account;

 

13

(j) Custodian File. Not later than the Closing Date or the applicable Substitution Date, the Originator shall cause to be delivered to the Depositor or the Custodian the Custodian Files for the relevant Pool Receivables. Each Custodian File shall be clearly marked with a Contract number, which shall be used by the Originator, the Issuer, the Depositor and the Indenture Trustee to identify such Contract and the related Pool Receivable. The Originator shall take all actions necessary or reasonably requested by the Depositor from time to time to ensure that the Custodian File with respect to each Pool Receivable is accurate and complete in all material respects;

(k) Deposits to Collection Account. The Originator shall not deposit or otherwise credit, or cause or permit to be so deposited or credited, to the Collection Account cash or cash proceeds other than Collections, Servicer Advances, Servicer Charges and, after the occurrence of a Calculation Event, Excluded Amounts (or misdirected funds, which shall be removed as soon as practicable) in respect of the Pool Receivables;

(l) Keeping of Records and Books of Account. The Originator shall maintain and implement administrative and operating procedures (including an ability to recreate records evidencing Receivables and related Contracts in the event of the destruction of the originals thereof), and keep and maintain, all documents, books, computer tapes, disks, records and other information reasonably necessary or advisable for the collection of all Receivables (including records adequate to permit the daily identification of substantially all new Receivables and all Collections of and adjustments to each existing Receivable);

(m) Performance and Compliance with Receivables and Contracts and Credit and Collection Policy. The Originator shall, at its own expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables; and shall timely and fully comply in all material respects with the Credit and Collection Policy in regard to each Receivable and the related Contract; and

(n) Instructions to the Obligors. The Originator shall instruct all Obligors to cause all Collections to be deposited directly to the Lock-Box Account or to post office boxes to which only the Lock-Box Bank has access and shall cause all items and amounts relating to such Collections received in such post office boxes to be removed by the Lock-Box Bank and deposited into the Lock-Box Account on a daily basis.

SECTION 6.3 Negative Covenants of the Originator

At all times from the date hereof to and including the Final Payment Date:

(a) No Sales, Liens, Etc. Except as otherwise provided herein and in the other Transaction Documents, the Originator shall not sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Lien (other than Permitted Liens) (or the filing of any financing statement) upon or with respect to (i) any of the Sold Assets, or (ii) any inventory or goods (including the Equipment), the sale or lease of which gave rise to a Pool

 

14

Receivable, or assign any right to receive income in respect thereof or (iii) any account which concentrates in a Lock-Box Account to which any Collections of any Pool Receivable are sent (except for any right of a Lock-Box Bank with respect to a Lock-Box Account as permitted under the Transaction Documents).

(b) No Subsidiaries, Mergers, Etc. If after giving effect thereto, there would exist an Event of Default, the Originator shall not consolidate or merge with or into, or sell, lease or transfer all or substantially all of its assets to, any other Person or dissolve or terminate.

(c) Change of Name, Etc. The Originator shall not change its name, identity, jurisdiction of formation or structure (including through a merger) or the location of its chief executive office or make any other change which, in the case of the foregoing, could cause any UCC financing statement filed in connection with this Agreement or any other Transaction Document to become “seriously misleading” under the UCC or change its jurisdiction of organization, unless at least thirty (30) days prior to the effective date of any such change the Originator delivers to the Depositor, the Issuer and the Indenture Trustee such documents, instruments or agreements, executed by the Originator as are necessary to reflect such change and to continue the perfection of the Depositor’s, the Issuer’s and the Indenture Trustee’s ownership interests or security interests in the Sold Assets. The Originator will not become or seek to become organized under the laws of more than one jurisdiction.

ARTICLE VII

INDEMNIFICATION

SECTION 7.1 Indemnification by the Originator. Without limiting any other rights which the Originator Indemnified Parties may have hereunder or under Applicable Law, the Originator hereby agrees to indemnify the Depositor and its successors, transferees and assigns (including the Noteholders and the Indenture Trustee) and all officers, directors, shareholders, controlling persons, employees, counsel and other agents of any of the foregoing (collectively, the “Originator Indemnified Parties”) from and against any and all damages, losses, claims, liabilities, costs and expenses, including reasonable attorneys’ fees (which such attorneys may be employees of any Originator Indemnified Party) and disbursements (all of the foregoing being collectively referred to as “Originator Indemnified Amounts”) awarded against or incurred by any of the Originator Indemnified Parties in any action or proceeding between the Originator and any of the Originator Indemnified Parties or between any of the Originator Indemnified Parties and any third party relating to or resulting from the following:

(a) any representation or warranty made by the Originator or any officers of the Originator under or in connection with this Agreement, any of the other Transaction Documents, or any other information or report delivered by the Originator or any officers of the Originator pursuant hereto, which shall have been false or incorrect in any material respect when made or deemed made;

(b) the failure by the Originator to comply with any Applicable Law with respect to any Pool Receivable or the related Contract, or the nonconformity of any Sold Asset or the related Contract with any such Applicable Law;

 

15

(c) the failure to vest and maintain vested in the Depositor a valid perfected first priority ownership interest in favor of the Depositor in the Sold Assets free and clear of any Lien (other than Permitted Liens); or in the event that the conveyance by the Originator to the Depositor of the Sold Assets hereunder was construed not to be a sale, the failure to Grant to the Depositor (and its assignee) a valid perfected first priority security interest in the Sold Assets, free and clear of all Liens (other than the Permitted Liens);

(d) the failure to file, or any delay in filing, financing statements, continuation statements, or other similar instruments or documents required to be filed by the Originator under the UCC of any applicable jurisdiction or other applicable laws with respect to any of the Sold Assets;

(e) any dispute, claim, offset or defense (other than discharge in bankruptcy) of an Obligor to the payment of any Pool Receivable (including a defense based on such Pool Receivable or the related Contract not being the legal, valid and binding obligation of such Obligor enforceable against it in accordance with its terms) arising as a result of a breach by the Originator of its obligations under the Receivables;

(f) any products liability claim or personal injury or property damage suit or other similar or related claim or action of whatever sort arising out of or in connection with merchandise or services relating to or which are the subject of any Pool Receivable or related Contract;

(g) the transfer to the Depositor of an interest in any Pool Receivable other than an Eligible Receivable (as of the date hereof) for which the Depositor has not received a Repurchase Amount from the Originator;

(h) the failure by the Originator to comply with any term, provision or covenant applicable to the Originator contained in this Agreement or any of the other Transaction Documents to which it is a party or to perform any of its duties or obligations under the Pool Receivables or related Contracts;

(i) the use of proceeds of purchases by the Originator, or the ownership of the Sold Assets;

(j) any commingling by the Originator of Collections of Pool Receivables at any time with other funds;

(k) failure of any Lock-Box Bank, the Intercreditor Master Agent, or the Originator to remit any Collections held in the Lock-Box Account or any related lock-boxes or to the Collection Account, whether by reason of the exercise of set-off rights or otherwise; or

(l) any inability to obtain any judgment in or utilize the court or other adjudication system of, any state in which an Obligor may be located as a result of the failure of the Originator to qualify to do business or file any notice of business activity report or any similar report;

 

16

excluding, however, (i) Originator Indemnified Amounts to the extent resulting from gross negligence or willful misconduct on the part of such Originator Indemnified Party or (ii) recourse (except as otherwise specifically provided in this Agreement or the Sale and Servicing Agreement) for uncollectible Pool Receivables arising out of any credit default of an Obligor.

ARTICLE VIII

MISCELLANEOUS PROVISIONS

SECTION 8.1 Waivers; Amendments.

(a) No failure or delay on the part of the Depositor in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other further exercise thereof or the exercise of any other power, right or remedy. The rights and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by law.

(b) Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Depositor and the Originator and consented to in writing by the Issuer and the Indenture Trustee.

SECTION 8.2 Notices. All communications and notices provided for hereunder shall be provided in the manner described in Section 9.3 of the Sale and Servicing Agreement.

SECTION 8.3 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THEREOF OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

SECTION 8.4 Integration. This Agreement contains the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire Agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or written understandings.

SECTION 8.5 Severability of Provisions. If any one or more of the provisions of this Agreement shall for any reason whatsoever be held invalid, then such provisions shall be deemed severable from the remaining provisions of this Agreement and shall in no way affect the validity or enforceability of such other provisions.

SECTION 8.6 Counterparts; Facsimile Delivery. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement. Delivery by facsimile or other electronic transmission (i.e., “pdf” or “tif”) of an executed signature page of this Agreement shall be effective as delivery of an executed counterpart hereof.

SECTION 8.7 Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns and shall

 

17

also inure to the benefit of the parties to the Sale and Servicing Agreement and the Indenture and their respective successors and assigns. The Originator may not assign its rights or obligations hereunder. The Originator acknowledges that the Depositor’s rights under this Agreement may be assigned to the Issuer, pursuant to the Sale and Servicing Agreement, and by the Issuer to the Indenture Trustee pursuant to the Indenture, and consents to such assignment and to the exercise of those rights directly by the Issuer and the Indenture Trustee on behalf of the Noteholders, to the extent permitted by the Sale and Servicing Agreement and the Indenture.

SECTION 8.8 Costs, Expenses and Taxes. In addition to its obligations under Section 7.1, the Originator agrees to pay on demand (a) all reasonable costs and expenses incurred by the Depositor and its assigns in connection with the enforcement of, or any actual or claimed breach by the Originator of, this Agreement, including the reasonable fees and expenses of counsel to any of such Persons incurred in connection with any of the foregoing or in advising such Persons as to their respective rights and remedies under this Agreement in connection with any of the foregoing, and (b) all stamp and other taxes and fees payable or determined to be payable in connection with the execution, delivery, filing and recording of this Agreement.

SECTION 8.9 No Proceedings; Limited Recourse. The Originator covenants and agrees, for the benefit of the parties to the Sale and Servicing Agreement and the Indenture, that it shall not institute against the Depositor or the Issuer, or join any other Person in instituting against the Depositor or the Issuer, any proceeding of a type referred to in the definition of “Event of Bankruptcy” (as defined in the Indenture) until two years and one day after the Final Payment Date. In addition, all amounts payable by the Depositor to the Originator pursuant to this Agreement shall be payable solely from funds available for that purpose pursuant to Section 4.5(a) of the Indenture.

SECTION 8.10 Further Assurances. The Depositor and the Originator agree to do and perform, from time to time, any and all acts and to execute any and all further instruments required or reasonably requested by the other party more fully to effect the purposes of this Agreement.

[SIGNATURES FOLLOW]

 

18

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first written above.

 

COMMERCIAL CREDIT GROUP INC.
as Originator
By: /s/ Xxxxx Xxxxxxx
 

 

Name: Xxxxx Xxxxxxx
Title: Vice President and Treasurer
CCG RECEIVABLES IV, LLC
as Depositor
By: /s/ Xxxxx Xxxxxxx
 

 

Name: Xxxxx Xxxxxxx
Title: Chief Financial Officer and Treasurer

[Signature Page to Purchase Agreement]

Schedule 1

Schedule of Xxxxxxxxx

 

Xxxxxxxx #    Xxxxxxxx #      XXX ($)  

1503

      101041201         255,802.14   

1658

      101061201         61,670.13   

1150

      101071101         18,066.27   

1578

      101091201         87,547.31   

1660

      101091202         117,508.03   

705

      101131201         69,384.45   

669

      101191201         55,402.26   

1307

      101201101         214,902.47   

916

      101231201         102,989.10   

770

      101241201         322,793.78   

1292

      101241202         649,584.64   

282

      101280901         34,520.22   

1678

      101301201         44,568.52   

1681

      101311202         268,871.85   

1247

      101311203         381,611.29   

1288

      102071101         2,504,455.83   

1257

      103021101         19,648.58   

616

      103041101         338,950.58   

913

      103060901         239,700.06   

916

      103060902         15,468.04   

554

      103090903         213,463.36   

1315

      103151101         76,730.01   

1315

      103231102         76,566.81   

1371

      103301103         547,100.19   

1257

      103311101         19,540.86   

204

      104040701         120,078.62   

930

      104080901         30,913.93   

342

      104121101         76,566.69   

1119

      104131102         273,480.48   

703

      104160803         39,746.93   

703

      104160804         42,663.60   

324

      104261102         50,969.91   

1394

      104261105         126,422.22   

720

      104290801         70,265.45   

722

      104300801         29,625.73   

1407

      105041101         70,577.84   

705

      105111101         21,948.87   

537

      105131101         66,215.83   

1394

      105161103         41,345.59   

1417

      105171101         97,405.25   

1419

      105201101         151,135.30   

1143

      105311101         43,139.89   

363

      106050802         99,335.76   

374

      106110901         116,892.78   

191

      107251102         191,812.68   

Customer #    Contract #      NBV ($)  

1140

      107271002         93,860.72   

375

      107301002         247,008.39   

1268

      108021101         53,879.06   

1499

      108021102         76,072.44   

1503

      108041101         435,141.43   

722

      108051101         306,384.90   

363

      108110901         60,224.58   

1508

      108151102         418,507.32   

1140

      108171001         197,448.55   

1503

      108171101         119,820.64   

1481

      108171102         84,407.05   

1150

      108171103         45,341.04   

558

      108190901         31,631.59   

1307

      108191101         243,230.62   

1488

      108261101         943,904.84   

363

      108290801         138,341.27   

671

      108290804         119,316.04   

1517

      108291101         79,775.32   

422

      108301101         529,117.94   

1257

      109011101         98,866.06   

930

      109081001         91,419.74   

1316

      109141101         124,790.47   

1546

      109231101         368,421.54   

1548

      109261101         162,736.13   

1556

      109291101         229,564.97   

722

      109291102         175,198.52   

1463

      109291103         39,039.29   

589

      109301101         140,057.92   

1560

      109301102         154,530.07   

1246

      110041101         31,185.75   

1575

      110191101         35,163.19   

1024

      110191103         88,530.89   

1578

      110241101         74,788.03   

1316

      110241102         38,106.72   

1583

      110251101         37,330.80   

1483

      110261101         170,174.90   

1583

      111011101         120,120.06   

1510

      111011102         118,497.84   

1595

      111011103         439,831.19   

14

      111041101         739,894.64   

916

      111101001         239,429.27   

191

      111141101         192,396.34   

1614

      111221101         146,702.59   

1607

      111231102         60,123.86   

629

      111300702         303,223.94   

1613

      111301101         75,937.92   

1620

      112021101         570,153.39   

1618

      112061101         31,589.91   

1488

      112091101         372,153.74   

Customer #    Contract #      NBV ($)  

572

      112100801         96,236.84   

615

      112150901         20,743.22   

1467

      112151101         369,972.57   

1620

      112161101         567,922.02   

204

      112190503         49,377.06   

1645

      112281101         806,960.13   

1645

      112281102         863,131.57   

16

      112281104         226,821.09   

615

      112281107         613,413.00   

554

      112310902         442,441.59   

598

      201091201         178,517.51   

1387

      201111201         286,258.22   

218

      201121201         90,901.28   

521

      201141102         27,227.06   

1531

      201171202         143,554.21   

1497

      201171204         371,388.50   

1662

      201181201         83,916.11   

1376

      201191201         369,052.94   

1670

      201201201         80,688.39   

1250

      201231201         501,683.18   

74342

      201241201         87,248.30   

1665

      201261201         339,477.43   

1346

      201261202         28,301.35   

521

      201261203         93,018.54   

160

      201301202         70,104.10   

1063

      201301204         709,694.73   

1063

      201301205         501,375.68   

807

      201311103         153,705.21   

1340

      201311201         49,959.61   

349

      201311202         114,692.50   

1350

      201311203         221,122.68   

661

      202120803         17,003.36   

1336

      202161101         18,980.11   

128

      202180901         131,228.05   

797

      202190901         59,628.41   

1343

      202251101         136,248.54   

1124

      202281102         128,697.70   

911

      203050901         25,960.07   

366

      203070801         38,952.71   

97

      203151002         410,620.82   

1016

      203161101         126,591.77   

409

      203190901         107,490.30   

924

      203260902         340,551.55   

366

      203280802         44,947.27   

71

      203311101         213,311.23   

862

      204010901         58,513.09   

928

      204020901         19,977.73   

929

      204060901         108,529.20   

1333

      204061101         32,492.69   

Customer #    Contract #      NBV ($)  

598

      204111101         164,324.18   

1386

      204121102         92,536.81   

1387

      204131102         195,803.99   

1126

      204191102         15,643.37   

1390

      204201101         29,624.21   

942

      204240901         33,512.29   

1392

      204251101         46,058.01   

1395

      204251102         113,510.13   

1341

      204261101         56,178.93   

947

      204280901         35,597.45   

445

      204281001         458,671.35   

252

      204281101         54,340.92   

80

      204281103         738,135.32   

1403

      204291101         68,605.89   

521

      204291103         54,015.37   

366

      205060803         73,827.56   

693

      205140801         198,022.82   

1418

      205191101         380,865.22   

1392

      205241101         79,308.41   

1428

      205261101         31,840.57   

807

      205271001         50,606.70   

1395

      205271102         109,980.46   

287

      205271103         156,701.33   

89

      205281002         743,855.16   

712

      205290801         78,405.42   

929

      205290905         37,615.61   

807

      206041001         54,233.84   

972

      206230902         170,483.72   

128

      206230904         11,039.02   

585

      206240801         35,696.03   

725

      207010903         54,423.50   

787

      207210801         48,101.20   

1435

      207221101         404,543.88   

71

      207280801         103,894.17   

1501

      208031101         204,519.48   

97

      208060901         240,440.08   

1455

      208101102         83,052.22   

807

      208110802         8,935.22   

1395

      208111101         56,927.44   

807

      208131001         132,715.98   

807

      208131003         132,715.98   

1491

      208171101         384,287.39   

719

      208191101         112,897.96   

495

      208200801         160,532.28   

748

      208210801         20,682.83   

712

      208250802         88,361.47   

1516

      208291101         113,564.80   

1240

      208291102         508,289.70   

1492

      208301103         115,298.20   

Customer #    Contract #      NBV ($)  

369

      208301104         930,211.78   

1424

      208311101         340,503.93   

1531

      208311103         82,870.14   

807

      209011001         61,351.27   

347

      209020901         78,590.65   

807

      209020902         147,366.16   

1533

      209071101         68,782.66   

1193

      209091001         38,870.96   

1534

      209091101         220,136.53   

712

      209110801         88,073.30   

499

      209131101         131,122.63   

1538

      209161103         300,575.28   

978

      209180901         113,782.05   

1165

      209211101         377,494.87   

1301

      209221101         143,207.96   

1205

      209231001         65,839.15   

1551

      209231101         470,808.57   

1544

      209231102         179,377.51   

1395

      209231103         48,485.35   

1387

      209261102         130,222.23   

1555

      209281101         21,831.96   

693

      209281102         291,040.76   

69

      209301103         330,797.85   

51

      209301105         148,059.21   

982

      209301106         443,624.63   

836

      210010801         37,926.21   

896

      210061101         279,705.10   

1386

      210071102         93,519.19   

533

      210080805         62,660.55   

71

      210090901         135,197.02   

1566

      210111103         28,876.79   

646

      210181102         169,220.18   

1576

      210201101         140,882.26   

738

      210201102         410,664.16   

725

      210211101         21,943.25   

1387

      210211103         252,179.10   

813

      210230901         64,869.85   

1594

      210241101         69,439.83   

366

      210250702         28,284.20   

1448

      210251102         380,415.12   

1587

      210261102         240,717.27   

71

      210270901         121,467.71   

598

      210300701         628,063.47   

1590

      210311102         73,391.12   

1593

      210311105         324,563.22   

880

      211050901         76,763.98   

851

      211081101         28,183.23   

187

      211120801         38,907.17   

1598

      211141101         402,716.00   

Customer #    Contract #      NBV ($)  

424

      211160901         44,696.20   

854

      211161101         370,056.02   

862

      211170801         89,536.51   

883

      211211102         158,490.05   

581

      211221101         160,560.03   

1605

      211221103         50,350.42   

1606

      211221104         104,606.26   

585

      211240901         138,399.44   

1474

      211291101         49,721.85   

967

      211291102         292,139.27   

860

      211291103         665,692.20   

1611

      211301101         53,270.62   

445

      211301104         594,709.83   

1029

      212010901         122,934.95   

1189

      212021001         339,381.94   

1341

      212061101         27,160.36   

1619

      212061103         354,970.14   

1283

      212151001         382,476.96   

1124

      212191102         188,584.83   

13

      212200701         23,009.43   

1491

      212201101         87,735.66   

1636

      212201104         319,505.06   

1031

      212211101         388,696.91   

187

      212211103         921,029.34   

1611

      212211104         24,559.29   

1367

      212221101         323,265.62   

1240

      212271001         182,733.21   

21

      212301104         1,077,889.51   

21

      212301105         1,040,984.60   

878

      212301106         182,918.88   

849

      212310801         58,057.98   

795

      301060902         29,748.62   

1659

      301091201         134,610.92   

1048

      301151001         15,443.24   

744

      301171201         388,039.93   

1253

      301201101         28,018.12   

1461

      301201201         197,696.98   

1543

      301231201         122,383.37   

1253

      301231202         25,259.54   

960

      301241201         146,628.34   

1009

      301241202         220,005.01   

1310

      301251201         690,299.35   

1313

      301261102         55,084.73   

1125

      301261103         14,463.32   

1312

      301261104         65,176.15   

1323

      301261106         532,537.18   

1265

      301261202         947,166.89   

1666

      301261203         105,642.06   

1310

      301271101         191,982.40   

Customer #    Contract #      NBV ($)  

1321

      301271103         75,255.55   

1668

      301271201         355,537.99   

1667

      301271202         20,030.63   

895

      301280901         61,138.92   

523

      301281001         584,856.33   

1055

      301281004         244,055.28   

900

      301300902         208,926.01   

1671

      301301201         637,836.66   

954

      301301202         202,843.82   

1260

      301301204         28,085.84   

1673

      301301205         121,224.28   

1668

      301301207         354,560.54   

132

      301311101         759,720.97   

1675

      301311201         440,548.85   

1372

      301311203         561,440.34   

523

      302011001         402,699.33   

689

      302241003         70,442.82   

421

      302270901         104,203.03   

995

      303031102         214,813.90   

1258

      303101101         170,297.28   

951

      303121001         162,815.89   

709

      303121002         231,536.19   

709

      303121003         151,862.04   

700

      303160901         46,113.10   

867

      303180909         7,076.00   

1074

      303181101         20,961.67   

221

      303200903         329,682.99   

700

      303230902         21,504.85   

1363

      303231101         131,689.13   

43

      303251101         19,084.13   

1342

      303281101         94,577.41   

1368

      303281103         85,398.32   

907

      303301104         405,704.20   

1075

      303311005         197,410.45   

1374

      303311102         342,386.12   

24

      304020901         31,501.61   

1145

      304051101         69,432.11   

1069

      304051102         154,691.93   

700

      304061101         26,530.30   

1260

      304061102         30,123.22   

960

      304081101         48,684.37   

1383

      304111103         29,757.27   

899

      304141101         323,483.21   

1388

      304151101         233,331.73   

1278

      304151103         104,480.36   

1382

      304201102         41,264.41   

795

      304231006         73,379.37   

944

      304240903         105,138.03   

960

      304251101         87,920.93   

Customer #    Contract #      NBV ($)  

65

      304261102         36,699.53   

1258

      304261103         35,034.07   

1132

      304271101         147,906.51   

1100

      304291101         59,580.43   

1405

      304291103         98,521.42   

744

      304291104         218,065.82   

743

      304291106         94,784.74   

918

      305031101         125,938.98   

670

      305090803         299,844.75   

1118

      305121101         377,421.93   

1274

      305131101         45,875.29   

1416

      305171102         17,345.76   

954

      305180901         45,481.46   

173

      305231101         280,203.17   

1421

      305231104         33,147.29   

167

      305251101         110,825.60   

960

      305260902         55,678.05   

1003

      305261101         510,786.38   

907

      305261103         331,033.28   

1253

      305271101         18,856.58   

962

      305290901         63,683.92   

1162

      306011101         133,837.56   

944

      306040901         44,822.02   

1118

      306171001         1,047,403.21   

795

      306180901         147,426.81   

769

      306200801         35,853.53   

1055

      306251001         25,663.67   

564

      306270803         337,611.30   

701

      307110801         37,612.68   

786

      307180803         1,184,901.41   

960

      307200901         28,547.19   

736

      307220801         33,961.16   

795

      307240803         87,460.34   

830

      307291001         51,637.59   

1041

      307291004         279,099.08   

988

      308030902         19,934.10   

795

      308031102         311,723.39   

1313

      308041101         51,087.36   

1460

      308041102         382,116.79   

1460

      308041103         192,416.20   

202

      308061001         42,083.99   

65

      308081101         236,850.40   

1504

      308091101         227,287.52   

992

      308100902         47,965.24   

701

      308120802         39,603.89   

202

      308131002         40,825.98   

961

      308151101         445,461.37   

1207

      308161102         129,124.16   

961

      308170901         50,959.60   

Customer #    Contract #      NBV ($)  

564

      308181101         268,652.57   

700

      308191101         58,094.28   

766

      308220801         90,917.63   

743

      308221103         84,671.70   

1172

      308231002         654,752.08   

379

      308241101         1,010,148.33   

700

      308241102         226,139.30   

1515

      308261101         90,835.00   

670

      308270803         418,414.36   

701

      308290801         168,181.99   

1522

      308291101         499,380.69   

1524

      308301103         220,086.01   

700

      308310902         46,089.86   

1526

      308311101         378,591.13   

1527

      308311102         218,612.26   

1128

      308311103         559,150.12   

213

      308311104         550,683.90   

1530

      308311105         169,520.29   

1003

      309040901         57,001.51   

1368

      309081101         65,634.45   

1194

      309101003         34,755.27   

1535

      309121101         34,674.13   

1530

      309141101         253,467.39   

1514

      309141102         42,076.57   

1536

      309151101         108,822.37   

1539

      309161101         392,217.99   

1540

      309161102         273,115.13   

992

      309180902         31,735.42   

1541

      309191101         40,651.19   

260

      309201001         45,035.43   

746

      309201101         527,432.89   

1003

      309221002         80,873.58   

1543

      309231101         157,254.82   

700

      309231102         47,444.90   

1553

      309271101         82,639.80   

689

      309280902         145,565.88   

1009

      309280903         34,092.04   

1207

      309281001         30,948.30   

1554

      309281103         474,917.22   

1554

      309281104         474,917.21   

827

      309291003         42,946.98   

1557

      309291102         554,388.90   

1557

      309291103         482,342.33   

1527

      309291105         227,035.25   

744

      309300802         42,914.98   

1178

      309301101         288,615.76   

564

      309301102         285,328.17   

1562

      309301104         54,222.84   

744

      310061101         374,672.96   

Customer #    Contract #      NBV ($)  

1003

      310070901         38,132.25   

1564

      310071102         63,022.79   

1014

      310090901         139,720.72   

167

      310130501         23,007.32   

1567

      310131101         47,302.67   

1178

      310131102         284,122.07   

1570

      310141101         33,925.17   

1570

      310141102         33,925.17   

1570

      310141103         33,925.17   

1570

      310141104         33,925.17   

1570

      310141105         33,925.17   

744

      310141106         248,728.77   

744

      310141107         248,728.77   

856

      310170802         44,321.64   

1571

      310171101         291,480.42   

1574

      310181102         31,268.83   

1388

      310181103         634,261.43   

1231

      310211001         251,024.68   

1148

      310211103         326,114.01   

1148

      310211104         324,835.87   

1540

      310211105         51,264.88   

1363

      310211106         124,615.69   

1581

      310241102         101,973.91   

700

      310241103         150,081.60   

1579

      310241105         130,767.46   

1383

      310251101         314,399.38   

1582

      310251102         69,403.81   

400

      310251103         66,393.28   

564

      310261101         283,271.98   

827

      310270801         70,659.24   

1451

      310271101         263,291.04   

1526

      310271102         98,299.14   

1017

      310280901         126,124.30   

786

      310310803         738,972.17   

1592

      310311101         429,104.39   

1589

      310311103         292,536.68   

1589

      310311104         292,536.68   

1423

      311041101         77,195.88   

888

      311060901         9,448.14   

1574

      311071101         11,790.41   

1363

      311091101         107,369.67   

867

      311130801         9,524.36   

1259

      311221001         20,815.87   

1172

      311231003         31,839.14   

935

      311240903         413,364.29   

689

      311260805         135,683.46   

876

      311260806         279,980.10   

600

      311280701         12,612.66   

1373

      311281103         142,907.48   

Customer #    Contract #      NBV ($)  

1363

      311281104         128,832.60   

1156

      311281106         26,934.07   

736

      311291101         117,130.83   

700

      311291103         666,450.58   

1320

      311301101         49,062.01   

182

      311301102         27,868.78   

1052

      311301105         215,847.82   

1052

      311301106         240,486.71   

1052

      311301107         272,259.47   

1052

      311301108         82,660.13   

1003

      312030901         90,623.09   

882

      312090803         456,767.66   

1624

      312131101         64,872.90   

1032

      312140901         144,850.83   

1382

      312151107         321,107.22   

795

      312180903         85,919.17   

1451

      312211102         264,990.60   

760

      312221102         321,045.84   

760

      312221103         466,660.68   

1320

      312271101         293,799.66   

1321

      312271102         74,575.68   

1321

      312271103         154,248.93   

1641

      312271104         62,394.51   

1446

      312271105         118,409.62   

1171

      312271106         284,124.50   

1646

      312291101         355,478.26   

992

      312300904         93,541.92   

1498

      312301101         371,408.20   

1498

      312301102         274,808.31   

1498

      312301103         409,864.72   

1653

      312301104         504,981.69   

1657

      401061201         39,308.15   

1661

      401171201         461,032.34   

1661

      401171202         691,069.64   

1677

      401271201         202,529.70   

1669

      401271202         713,249.12   

1669

      401271203         181,788.12   

1674

      401301201         721,595.82   

1384

      404121101         60,162.78   

1406

      404291101         83,514.60   

1409

      405091101         267,752.77   

1420

      405201101         76,570.64   

1433

      407221101         566,237.88   

1419

      408081101         39,472.50   

1433

      408291101         210,171.06   

1133

      409021001         106,730.08   

1545

      409231101         58,883.25   

1550

      409271101         288,407.67   

1197

      409291101         205,146.05   

Customer #    Contract #      NBV ($)  

1561

      409301103         1,591,800.69   

1338

      410171101         75,993.31   

1487

      410261101         389,932.08   

1563

      410281102         907,010.50   

1563

      410281103         914,278.53   

1478

      411081101         179,985.26   

1600

      411171102         34,222.26   

1612

      411301101         1,050,316.72   

1419

      412191101         90,974.53   

Schedule 2

Originator Information

 

1. List of Name Change or Mergers:

None.

 

2. Employer Identification Number:

CCG’s EIN #: 00-0000000

 

3. List of Trade Names:

CCG of New Hampshire.

 

4. List of CCG Subsidiaries:

CCG Receivables, LLC

CCG Receivables II, LLC

CCG Receivables III, LLC

CCG Receivables IV, LLC

 

5. Chief Executive Office:

COMMERCIAL CREDIT GROUP INC.

Suite 1450

220 Xxxx Xxxxx Xxxxxx,

Xxxxxxxxx, XX 00000

Schedule 3

Notice Information

Commercial Credit Group Inc.,

220 Xxxx Xxxxx Xxxxxx, Xxxxx 0000

Xxxxxxxxx, XX 00000

CCG Receivables IV, LLC,

220 Xxxx Xxxxx Xxxxxx, Xxxxx 0000X

Xxxxxxxxx, XX 00000

Schedule 4

Lock-Box Bank and Lock-Box Account

Account number 2000026298881 of CCG maintained with Xxxxx Fargo Bank, National Association, having offices located at 1 Xxxxx Xxxxx Xxxxxx, Mail Code: PA1227, Philadelphia, Pennsylvania and 400 X. Xxxxx Xxxxxx, 10th Floor, TS Legal Risk Mgmt., Mail Code NC0817, Chxxxxxxx, Xxxxx Xxxxxxxx 00000

Commercial Credit Group Inc.,

220 Xxxx Xxxxx Xxxxxx, Xxxxx 0000

Xxxxxxxxx, XX 00000

CCG Receivables IV, LLC,

220 Xxxx Xxxxx Xxxxxx, Xxxxx 0000X

Xxxxxxxxx, XX 00000

CCG Receivables Trust 2012-1

c/o Wilmington Trust, National Association, as Owner Trustee

Xxxxxx Square North

1100 Xxxxx Xxxxxx Xxxxxx

Xxxxxxxxxx, Xxxxxxxx 00000

Attention: Corporate Trust Administration

With a copy to:

Commercial Credit Group Inc.,

220 Xxxx Xxxxx Xxxxxx, Xxxxx 0000

Xxxxxxxxx, XX 0820

Exhibit A

Form of Contract

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Filed: March 19th, 2015
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