Exhibit 10.19.1
FIRST AMENDMENT TO THE
SHORT TERM INVESTMENT AGREEMENT
This FIRST AMENDMENT ("Amendment") is dated as of January 1, 2002, by and
between WFS FINANCIAL INC, a California corporation ("WFS"), and WESTERN
FINANCIAL BANK, a federally chartered savings bank fka Western Financial Savings
Bank. F.S.B. (the "Bank"), and amends the SHORT TERM INVESTMENT AGREEMENT
("Agreement") entered into by the parties on January 1, 1996, pursuant to
certain short-term investment services provided by the Bank to WFS.
RECITALS
The Agreement is being amended to reflect a change in the interest rate payable
by the Bank to WFS pursuant to the terms and conditions in the Agreement.
AGREEMENT
In consideration of the mutual promises set forth herein, and in reliance upon
the recitals set forth above, the parties agree as follows:
1. The third sentence in Clause 3 of the Agreement is hereby changed and
replaced by the following sentences:
"Interest shall be paid at a rate equal to 1-month LIBOR, and shall accrue
daily. The LIBOR rate used shall be the LIBOR rate in effect on the last
day of the prior month."
2. Except as specifically amended herein, all terms of the Agreement shall
remain in full force and effect.
Wherefore, the undersigned have executed this Amendment on the date set forth
below to be effective as of the date first set forth above.
WFS FINANCIAL INC WESTERN FINANCIAL BANK
/s/ Xxxxxx X. Xxxxx /s/ Xxx X. Xxxxxxxx
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Xxxxxx X. Xxxxx, President and Xxx X. Xxxxxxxx,
Chief Operating Officer Senior Executive Vice President
and Chief Financial Officer
