EXHIBIT 4.31
SUPPLEMENT NO. 6
TO
SERIES 1998-1 SUPPLEMENT
dated as of August 31, 2000
among
RENTAL CAR FINANCE CORP.,
DOLLAR RENT A CAR SYSTEMS, INC.,
THRIFTY RENT-A-CAR SYSTEM, INC.,
DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.,
BANKERS TRUST COMPANY,
as Trustee and Enhancement Agent
CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH,
as the Series 1998-1 Letter of Credit Provider
and
DOLLAR THRIFTY FUNDING CORP.,
as the sole Series 1998-1 Noteholder
SUPPLEMENT NO. 6
TO SERIES 1998-1 SUPPLEMENT
This Supplement No. 6 to Series 1998-1 Supplement dated as of August 31,
2000 ("Supplement No. 6"), among Rental Car Finance Corp., an Oklahoma
corporation ("RCFC"), Dollar Rent A Car Systems, Inc., an Oklahoma corporation
("Dollar"), Thrifty Rent-A-Car System, Inc., an Oklahoma corporation
("Thrifty"), Dollar Thrifty Automotive Group, Inc., a Delaware corporation
("DTAG"), Bankers Trust Company, a New York banking corporation, as Trustee and
Enhancement Agent (the "Trustee"), Credit Suisse First Boston, New York Branch,
as the Series 1998-1 Letter of Credit Provider ("CSFB"), and Dollar Thrifty
Funding Corp., an Oklahoma corporation, as the sole Series 1998-1 Noteholder
("DTFC")(RCFC, Dollar, Thrifty, DTAG, the Trustee, CSFB and DTFC are
collectively referred to herein as the "Parties").
RECITALS:
A. RCFC, as Issuer, and the Trustee entered into that certain Base
Indenture dated as of December 13, 1995, as amended by the Amendment to Base
Indenture dated as of December 23, 1997 (the "Base Indenture"); and
B. RCFC and the Trustee entered into that certain Series 1998-1 Supplement
dated as of March 4, 1998, as subsequently (i) amended by Amendment No. 1 to
Series 1998-1 Supplement dated as of Xxxxx 0, 0000, (xx) supplemented by
Supplement No. 1 to Series 1998-1 Supplement dated as of Xxxxx 0, 0000, (xxx)
supplemented by Supplement No. 2 to Series 1998-1 Supplement dated as of March
4, 1999, (iv) supplemented by Supplement No. 3 to Series 1998-1 Supplement dated
as of October 20, 1999, (v) supplemented by Supplement No. 4 to Series 1998-1
Supplement dated as of February 18, 2000, and (vi) supplemented by Supplement
No. 5 to Series 1998-1 Supplement dated as of July 17, 2000 (as amended and
supplemented to the date hereof, the "Series 1998-1 Supplement"; the Base
Indenture and any Supplement thereto, including the Series 1998-1 Supplement are
collectively referred to herein as the "Indenture"); and
C. The Parties wish to amend the Series 1998-1 Supplement as provided
herein.
NOW THEREFORE, the Parties hereto agree as follows:
1. Definitions. Capitalized terms used in this Supplement No. 6 not herein
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defined shall have the meaning contained in the Series 1998-1 Supplement and if
not defined therein shall have the meaning set forth in the Definitions List
attached as Schedule 1 to the Base Indenture.
2. Amendments. The Series 1998-1 Supplement is hereby amended as follows:
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(a) By deleting the following definitions contained in Article 2(b) in
their entirety:
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"Carryover Controlled Amortization Amount"
"Controlled Amortization Amount"
"Controlled Distribution Amount"
"Series 1998-1 Controlled Amortization Period"
"Series 1998-1 Controlled Distribution Amount Deficiency"
(b) By deleting the reference to "March 4, 2001" in the definition of
"Series 1998-1 Expected Final Payment Date" contained in Article 2(b) and
replacing it with "March 3, 2003."
(c) By deleting the phrase "the Series 1998-1 Controlled Amortization
Period and" contained in subparagraph (ii) of the definition of "Series
1998-1 Invested Percentage" contained in Article 2(b).
(d) By deleting the definition of "Series 1998-1 Revolving Period"
contained in Article 2(b) in its entirety and replacing it with the
following:
""Series 1998-1 Revolving Period" means, with respect to any
class of the Series 1998-1 Notes, the period from and including
the Series 1998-1 Closing Date to the commencement (if any) of
the Series 1998-1 Rapid Amortization Period."
(e) By deleting the reference to "March 4, 2001" in the definition of
"Series 1998-1 Termination Date" contained in Article 2(b) and replacing it
with "March 3, 2003."
(f) By deleting Section 4.7(b) in its entirety and replacing it with
the following:
"(b) INTENTIONALLY DELETED."
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(g) By deleting the phrase "and the Controlled Amortization Period
Profits" contained in Section 4.7(c)(ii)(1).
(h) By deleting the cross-reference to "4.7(b)(i)(3)" contained in
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Section 4.7(d).
(i) By deleting Section 4.7(d)(vii) in its entirety and replacing it
with the following:
"(vii) INTENTIONALLY DELETED."
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(j) By deleting Sections 4.10(a)(i) and (ii) in their entirety and
replacing them with the following:
"(i) INTENTIONALLY DELETED.
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(ii) INTENTIONALLY DELETED."
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(k) By deleting Section 4.10(a)(iv) in its entirety and replacing it
with the following:
"(iv) On each Payment Date occurring on or after the date a
withdrawal is made pursuant to Section 4.10(a)(iii) of this
Supplement, the Trustee shall, in accordance with Section 5.1 of
the Base Indenture and the Master Servicer's most recent Monthly
Certificate pay to the Series 1998-1 Noteholders specified in
Section 4.10(a)(iii) the amount deposited in the Series 1998-1
Distribution Account for the payment of principal pursuant to
Section 4.10(a)(iii) of this Supplement."
(l) By deleting the cross-reference to "(b)(v)(1)" contained in
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Section 4.14(b).
(m) By deleting the cross-reference to "(b)(iii)(1)" contained in
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Section 4.15(a).
3. Effect of Supplement. Except as expressly set forth herein, this
Supplement No. 6 shall not by implication or otherwise limit, impair, constitute
a waiver of, or otherwise affect the rights and remedies of any of the Parties
hereto under the Series 1998-1 Supplement, nor alter, modify, amend or in any
way affect any of the terms, conditions, obligations, covenants or agreements
contained in the Series 1998-1 Supplement, all of which are hereby ratified and
affirmed in all respects by each of the Parties hereto and shall continue in
full force and effect. This Supplement No. 6 shall apply and be effective only
with respect to the provisions of the Series 1998-1 Supplement specifically
referred to herein and any references in the Series 1998-1 Supplement to the
provisions of the Series 1998-1 Supplement specifically referred to herein shall
be to such provisions as amended by this Supplement No. 6.
4. Applicable Provisions. Pursuant to Section 11.2 of the Base Indenture
and Section 8.6 of the Series 1998-1 Supplement, the Trustee, RCFC, the
Servicers, the Required Noteholders with respect to the Series 1998-1 Notes and
the Series 1998-1 Letter of Credit Provider may enter into a supplement to the
Indenture for the purpose of amending any provisions of the Series 1998-1
Supplement provided that the Rating Agencies shall confirm that such supplement
will not result in the reduction or withdrawal of their ratings applicable to
the Commercial Paper Notes and, as evidenced by an Opinion of Counsel, such
supplement affects only the Series 1998-1 Noteholders.
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5. Waiver of Notice. Each of the Parties hereto waives any prior notice and
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any notice period that may be required by any other agreement or document in
connection with the execution of this Supplement No. 6.
6. Binding Effect. This Supplement No. 6 shall be binding upon and inure to
the benefit of the Parties and their respective successors and assigns.
7. GOVERNING LAW. THIS SUPPLEMENT NO. 6 SHALL BE CONSTRUED IN ACCORDANCE
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WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE PROVISIONS
THEREOF REGARDING CONFLICTS OF LAWS), AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
8. Counterparts. This Supplement No. 6 may be executed in any number of
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counterparts and by different parties hereto in separate counterparts, each of
which when executed and delivered shall be deemed to be an original and all of
which taken together shall constitute but one and the same agreement.
[SIGNATURES ON FOLLOWING PAGES]
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IN WITNESS WHEREOF, the Parties have caused this Supplement No. 6 to be
duly executed and delivered as of the day and year first above written.
RCFC:
RENTAL CAR FINANCE CORP.,
an Oklahoma corporation
By: _____________________________________________
Xxxxxx X. Xxxx
Vice President
TRUSTEE AND ENHANCEMENT AGENT:
BANKERS TRUST COMPANY, a New York banking
corporation
By: _____________________________________________
Name: __________________________________
Title: _________________________________
SERVICERS:
DOLLAR RENT A CAR SYSTEMS, INC.,
an Oklahoma corporation
By: _____________________________________________
Xxxxxxx X. XxXxxxx
Treasurer
THRIFTY RENT-A-CAR SYSTEM, INC.,
an Oklahoma corporation
By: _____________________________________________
Xxxxxx X. Xxxx
Treasurer
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DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.,
a Delaware corporation
By: _____________________________________________
Xxxxxx X. Xxxx
Treasurer
SERIES 1998-1 LETTER OF CREDIT PROVIDER:
CREDIT SUISSE FIRST BOSTON, NEW YORK
BRANCH, a Swiss banking corporation
By: _____________________________________________
Name: __________________________________
Title: _________________________________
By: _____________________________________________
Name: __________________________________
Title: _________________________________
SOLE SERIES 1998-1 NOTEHOLDER:
DOLLAR THRIFTY FUNDING CORP.,
an Oklahoma corporation
By: _____________________________________________
Xxxxxx X. Xxxx
Vice President
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The following financial institutions hereby consent to the foregoing
Supplement No. 6 as of the day and year first above written.
LIQUIDITY COMMITMENT: LIQUIDITY LENDER:
$75,000,000 CREDIT SUISSE FIRST BOSTON, NEW YORK
BRANCH, a Swiss banking corporation
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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LIQUIDITY COMMITMENT: LIQUIDITY LENDER:
$65,000,000 THE CHASE MANHATTAN BANK
By: ________________________________________
Name: _____________________________
Title: ____________________________
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LIQUIDITY COMMITMENT: LIQUIDITY LENDER:
$50,000,000 ING (U.S.) CAPITAL, LLC
By: ________________________________________
Name: _____________________________
Title: ____________________________
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LIQUIDITY COMMITMENT: LIQUIDITY LENDER:
$70,000,000 THE BANK OF NOVA SCOTIA
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$50,000,000 ABN AMRO BANK N.V.
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$40,000,000 CREDIT INDUSTRIEL ET COMMERCIAL
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$40,000,000 DRESDNER BANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$25,000,000 FLEET NATIONAL BANK
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$25,000,000 BBL INTERNATIONAL (U.K.) LTD
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$30,000,000 BANK OF MONTREAL
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$50,000,000 BANK ONE, TEXAS N.A.
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$30,000,000 BAYERISCHE LANDESBANK GIROZENTRALE,
NEW YORK BRANCH
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$25,000,000 COMERICA BANK
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$25,000,000 XXXXXX GUARANTY TRUST COMPANY OF
NEW YORK
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$50,000,000 DEUTSCHE BANK AG, NEW YORK A/O
CAYMAN ISLANDS BRANCHES
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$25,000,000 KBC BANK
By: ________________________________________
Name: _____________________________
Title: ____________________________
By: ________________________________________
Name: _____________________________
Title: ____________________________
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XXXXXXXXX XXXXXXXXXX: LIQUIDITY LENDER:
$25,000,000 XXXXX FARGO BANK
By: ________________________________________
Name: _____________________________
Title: ____________________________
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