AMENDMENT NO. 1 TO RECEIVABLES PURCHASE AGREEMENTReceivables Purchase Agreement • November 7th, 2024 • OPENLANE, Inc. • Retail-auto dealers & gasoline stations • Ontario
THIS AMENDMENT NO. 1 to RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of September 27, 2024 is entered into among AUTOMOTIVE FINANCE CANADA INC., a corporation incorporated under the laws of the Province of Ontario (the “Seller” and the initial “Servicer”), OPENLANE, Inc., f/k/a KAR AUCTION SERVICES, INC., a corporation incorporated under the laws of Delaware (the “Performance Guarantor”), COMPUTERSHARE TRUST COMPANY OF CANADA, in its capacity as trustee of AFCI FUNDING TRUST, a trust established under the laws of the Province of Ontario, as purchaser (the “Trust”), the agents for the Lender Groups from time to time party to the Loan Agreement (each, an “Agent”) and BMO NESBITT BURNS INC., in its capacity as financial services agent (the “Financial Services Agent”).
Standard Contracts
FIRST AMENDMENT AND JOINDER TO TENTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENTReceivables Purchase Agreement • November 7th, 2024 • OPENLANE, Inc. • Retail-auto dealers & gasoline stations • Indiana
THIS FIRST AMENDMENT AND JOINDER, dated as of September 27, 2024 (this “Amendment”), to THE TENTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of September 28, 2022 (as further amended, restated, supplemented or otherwise modified as of the date hereof, the “Receivables Purchase Agreement”), by and among AFC FUNDING CORPORATION, an Indiana corporation (the “Seller”), AUTOMOTIVE FINANCE CORPORATION, an Indiana corporation (the “Servicer”), the Purchasers and Purchaser Agents parties thereto and BANK OF MONTREAL, as the agent (the “Agent”), is by and among the parties listed above, U.S. Bank National Association (the “New Purchaser”) as a Purchaser and Purchaser Agent and Falcon Asset Funding LLC (“New JPM Purchaser”) as a Purchaser.