Amendment to Wholesale Floor Plan Credit Facility and Security Agreement between Titan Machinery, Inc. and CNH Capital America LLC
Titan Machinery, Inc. and CNH Capital America LLC have agreed to amend their existing Wholesale Floor Plan Credit Facility and Security Agreement. As of October 27, 2011, the total credit limit available to Titan Machinery under this facility is set at $350,000,000. Both parties have confirmed and accepted this amendment in writing. The agreement outlines the terms under which Titan Machinery can access wholesale financing from CNH Capital.
Exhibit 10.2
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| CNH CAPITAL |
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| STRATEGIC ACCOUNTS GROUP |
Nicholas C. Mast
Director
Strategic Accounts
October 27, 2011
Titan Machinery, Inc.
644 E. Beaton Dr.
West Fargo, ND 58078
Attn: Ted O. Christianson,
Vice President, Finance
via electronic mail
Re: Wholesale Floor Plan Credit Facility
Dear Mr. Christianson:
Titan Machinery, Inc. (“Titan”) and CNH Capital America LLC (“CNH”) are parties to an Amended and Restated Wholesale Floor Plan Credit Facility and Security Agreement dated November 13, 2007, as amended from time to time, most recently amended in a letter dated September 30, 2011 (the “Agreement”). This letter will confirm that the current total wholesale floor plan credit limit for Titan Machinery is $350,000,000.00.
Very truly yours,
CNH Capital America LLC
| /s/ Nicholas Mast |
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| Nicholas Mast Director Strategic Accounts |
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Titan Machinery, Inc. agrees to the above described amendment to the Amended and Restated Wholesale Floor Plan Credit Facility and Security Agreement dated November 13, 2007, as amended.
Titan Machinery, Inc.
| /s/ Ted O. Christianson |
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| Ted O. Christianson, VP Finance and Treasurer |
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CNH Capital
233 Lake Avenue
Racine, WI 53403
