December 29, 2015Letter Agreement Regarding Additional Reserve Account Contributions • February 9th, 2016 • Celadon Group Inc • Trucking (no local)
Element Financial Corp., Delaware corporation (“Element”) and Celadon Group, Inc., a Delaware corporation and Quality Equipment Leasing, LLC, a Delaware limited liability company (together, “Celadon/Quality,” or “Servicer”) are parties to an Amended and Restated Reserve Account Agreement dated as of September 28, 2015 (the “Reserve Account Agreement”), pursuant to which a “Reserve Account” for Element’s benefit has been established. The Reserve Account is being held to collateralize and provide recourse for credit and asset losses experienced under certain transactions originated by Servicer and transferred to Element or transactions originated by Servicer on behalf of Element (the “Transactions”). Servicer also serves as billing and collecting agent with respect to the Transactions for the benefit of Purchaser an pursuant to the Amended and Restated Service Account Agreement dated as of September 28, 2015, to which Servicer and Element are parties (the “Service Agreement”). Element an
