Amendment No. 4 to Credit Agreement among Regional Management Receivables IV, LLC, Regional Management Corp., and Wells Fargo Bank
This amendment updates the existing credit agreement between Regional Management Receivables IV, LLC (the borrower), Regional Management Corp. (the servicer), and Wells Fargo Bank (as administrative agent, lender, account bank, and backup servicer). The main change is the extension of the Scheduled Commitment Termination Date to May 19, 2023, with the possibility of further extension by written agreement. The amendment reaffirms prior representations and warranties, confirms the agreement remains in effect except as amended, and requires payment of certain legal fees. It is governed by New York law.
Execution Version
AMENDMENT NO. 4 TO
CREDIT AGREEMENT
THIS AMENDMENT NO. 4 TO CREDIT AGREEMENT, dated as of April 13, 2023 (this “Amendment”), is entered into by and among Regional Management Receivables IV, LLC, a Delaware limited liability company (the “Borrower”), Regional Management Corp., a Delaware corporation, as servicer (the “Servicer”), the “Lenders” party hereto, Wells Fargo Bank, National Association, a national banking association (“Wells Fargo”), as administrative agent (the “Administrative Agent”), and Wells Fargo, acting through its Corporate Trust Services division, as account bank (in such capacity, the “Account Bank”) and backup servicer (in such capacity, the “Backup Servicer”). Capitalized terms used and not otherwise defined herein are used as defined in the Agreement (as defined below), unless otherwise specified in the Agreement.
WHEREAS, the Borrower, the Servicer, the “Lenders,” the “Backup Servicer,” the “Account Bank,” the “Agents,” and the Administrative Agent are parties to that certain Credit Agreement, dated as of April 19, 2021 (as amended by the Amendment No. 1 thereto, dated as of December 17, 2021, the Amendment No. 2 thereto, dated as of August 11, 2022, and the Amendment No. 3 thereto, dated as of September 7, 2022, the “Existing Agreement” and, as amended by this Amendment, the “Agreement”); and
WHEREAS, the parties hereto desire to amend the Existing Agreement as hereinafter set forth;
NOW THEREFORE, in consideration of the premises and the other mutual covenants contained herein, the parties hereto agree as follows:
“Scheduled Commitment Termination Date” means May 19, 2023 (or, if such day is not a Business Day, the immediately preceding Business Day), or such later date to which the Scheduled Commitment Termination Date may be extended upon the written agreement of the Borrower, the Servicer, the Lenders, the Agents and the Administrative Agent.
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[signatures appear on following pages]
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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.
REGIONAL MANAGEMENT RECEIVABLES IV, LLC,
as Borrower
By: /s/ Harpreet Rana
Name: Harpreet Rana
Title: Executive Vice President and Chief Financial Officer
REGIONAL MANAGEMENT CORP.,
as Servicer
By: /s/ Harpreet Rana
Name: Harpreet Rana
Title: Executive Vice President and Chief Financial Officer
Signature Page to Amendment No. 4
to Credit Agreement
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as the Administrative Agent
By: /s/ Leigh Poltrack
Name: Leigh Poltrack
Title: Director
Signature Page to Amendment No. 4
to Credit Agreement
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Agent and as Committed Lender
By: /s/ Leigh Poltrack
Name: Leigh Poltrack
Title: Director
Signature Page to Amendment No. 4
to Credit Agreement
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Account Bank and Backup Servicer
By: Computershare Trust Company, N/A. as attorney-in-fact
By: /s/ Jennifer Westberg
Name: Jennifer C. Westberg
Title: Vice President
Signature Page to Amendment No. 4
to Credit Agreement
