EXHIBIT 10.6.2
FIRST AMENDMENT TO THE AMENDED
REVOLVING LINE OF CREDIT AGREEMENT
This FIRST AMENDMENT ("Amendment") is dated as of October 15, 2002, by and
between WFS FUNDING, INC., a California corporation (the "Borrower"), and
WESTERN FINANCIAL BANK a federal savings bank (the "Bank"), and amends the
AMENDED REVOLVING LINE OF CREDIT AGREEMENT ("Agreement") entered into by the
parties on June 1, 2002 with reference to the following:
RECITALS
A. The Agreement is being amended as follows:
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. CERTAIN DEFINITIONS
The definition of "BORROWING CERTIFICATE" is hereby added to the
Agreement and shall read as follows:
"BORROWING CERTIFICATE" shall mean a borrowing request executed by the
Borrower in substantially the form attached hereto as Exhibit A or
such other form as may be acceptable to the Bank in its sole and
absolute discretion.
2. Section 2.2 of the Agreement is restated in its entirety as follows:
NOTICE AND MAKING OF ADVANCES. Whenever the Borrower desires to draw
down an Advance, the Borrower shall execute and deliver to the Bank a
Borrowing Certificate prior to each requested Advance, and such
Borrowing Certificate shall be irrevocable. The Borrower hereby
irrevocably authorizes the Bank, on behalf of Borrower, to retain from
time to time any Advance or portion thereof to be used to pay any
outstanding Interests or Costs hereunder which is then due and unpaid.
The conditions herein with respect to the making of Advances are for
the benefit of the Bank and the Bank may modify or waive any of such
conditions in its sole and absolute discretion.
3. A new Section 4.2 will be added to the Agreement:
4.2 BORROWING CERTIFICATE. The Borrower shall have timely delivered
to the Bank, in accordance with Section 2.2 hereof, a Borrowing
Certificate duly completed and executed by the Borrower.
4. The original sections 4.2 through 4.5 shall be deemed renumbered 4.3
through 4.6.
5. Except as specifically amended herein, all terms of the Agreement
shall remain in full force and effect.
6. Capitalized terms not defined herein shall have the meanings set forth
in the Agreement.
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 FUNDING, INC. WESTERN FINANCIAL BANK
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Xxxx Xxxxxxxx, President Xxx X. Xxxxxxxx,
Senior Executive Vice President,
Chief Financial Officer and
Chief Operating Officer
