AMENDMENT NO. 10 AND WAVIER TO SECOND AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT
THIS AMENDMENT NO. 10 AND WAIVER TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT dated as of February 12, 2019 (this Amendment), is among NICHOLAS FINANCIAL, INC., a Florida corporation (the Borrower), BANK OF AMERICA, N.A., in its capacity as agent (in such capacity, the Agent), and each of the Lenders party hereto.
WHEREAS, the Borrower, the lenders from time to time party thereto (collectively, the Lenders) and the Agent have entered into a Second Amended and Restated Loan and Security Agreement dated as of January 12, 2010 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the Loan Agreement);
WHEREAS, the Borrower has requested that the Agent and the Lenders waive compliance with certain provisions of the Loan Agreement and the Borrower has requested that the Agent and the Lenders amend certain provisions of the Loan Agreement; and
WHEREAS, subject to the terms and conditions set forth below, the Agent and the Lenders party hereto are willing to grant such waivers and amend the Loan Agreement.
NOW, THEREFORE, in furtherance of the foregoing, the parties hereto, in consideration of their mutual covenants and agreements hereinafter set forth and intending to be legally bound hereby, covenant and agree as follows:
Section 1. DEFINITIONS; INCORPORATION BY REFERENCE. All capitalized terms used and not defined herein shall have the meanings given them in the Loan Agreement and the rules of construction set forth in Section 1.4 of the Loan Agreement shall apply to this Amendment. The recitals hereto are hereby incorporated by reference.
Section 2. AMENDMENTS TO LOAN AGREEMENT.
(a) Section 1.2 of the Loan Agreement is hereby amended by adding a new definition of Amendment No. 10 Effective Date in the appropriate alphabetical order to read as follows:
Amendment No. 10 Effective Date means February 12, 2019.
(b) Section 1.2 of the Loan Agreement is hereby amended by amending the definition of Maximum Revolver Amount in its entirety to read as follows:
Maximum Revolver Amount means $140,000,000.