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EXHIBIT 10.21
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THIRD AMENDMENT
to
RECEIVABLES SALE AND SERVICING AGREEMENT
between
WABASH NATIONAL CORPORATION
as Seller and Servicer
and
NBD BANK, N.A.
as Purchaser
DATED AS OF JUNE 28, 1996
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This THIRD AMENDMENT dated as of June 28, 1996 (the "Amendment"), is
entered into by and between Wabash National Corporation, a Delaware
corporation, in its capacity as originator and seller of the Receivables (as
defined in the Agreement, defined below) hereunder (in such capacity the
"Seller"), and in its capacity as servicer hereunder (in such capacity, the
"Servicer"), and NBD Bank, N.A., a national banking association, in its
capacity as purchaser (the "Purchaser").
RECITALS
WHEREAS, the Seller and the Purchaser have entered into a Receivables Sale
and Servicing Agreement dated as of June 29, 1995 (the "Agreement");
WHEREAS, the Seller and the Purchaser desire to amend the Agreement to
include an additional sublimit with respect to an additional Obligor (as
defined in the Agreement) and to amend the sublimit with respect to an existing
Obligor; and
WHEREAS, pursuant to Section 12.7 of the Agreement, neither the Agreement
nor the terms thereof may be amended, supplemented or modified except in
writing signed by the Purchaser and the Seller.
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
Section 1. Amendment to Section 2.1, Purchase and Sale of Receivables.
(a) The following Obligor and corresponding sublimit shall be added to Section
2.1(b) of the Agreement which the lists the limits with respect to each Obligor
by which the aggregate Purchase Price of outstanding Purchased Receivables may
not exceed:
Knight Transportation, Inc. $1,500,000
(b) The sublimit for Swift Transportation Co. shall be increased from
$10,000,000 to $20,000,000 from the date hereof until October 1, 1996 or such
other date agreed to in writing by the Purchaser to the Seller.
Section 2. Effect of Amendment. Except as amended hereby, the Agreement
shall remain in full force and effect in accordance with the terms set forth
therein.
Section 3. Counterparts. This Amendment may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same
instrument.
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IN WITNESS WHEREOF, the Seller and the Purchaser have caused this
Amendment to be duly executed by their respective officers thereunto duly
authorized as of the date and year first above written.
WABASH NATIONAL CORPORATION, as
Seller and Servicer
By: /s/ Xxxx X. Xxxxxx
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Name: Xxxx X. Xxxxxx
Title: Vice President and Chief
Financial Officer
NBD BANK, N.A., as Purchaser
By: /s/ Xxx X. Xxxxxx, Xx.
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Name: Xxx X. Xxxxxx, Xx.
Title: Vice President
