Eighth Amending Agreement, dated as of May 20, 2020 by and between First Insurance Funding of Canada Inc. and CIBC Mellon Trust, in its capacity as trustee of Plaza Trust, by its Financial Service Agent, Royal Bank of Canada

EX-10.1 2 ex101eightamendingagre.htm EXHIBIT 10.1 EIGHTH AMENDING AGREEMENT TO RECEIVABLES PURCHASE AGREEMENT Exhibit

EXHIBIT 10.1

EIGHTH AMENDING AGREEMENT
(First Insurance Funding of Canada Inc.)

This Eighth Amending Agreement made as of May 20, 2020.

B E T W E E N:

FIRST INSURANCE FUNDING OF CANADA INC.

(hereinafter referred to as the “Seller” or the “Servicer”)

- and -

CIBC MELLON TRUST COMPANY, in its capacity as trustee of PLAZA TRUST,

(hereinafter referred to as the “Purchaser”)

RECITALS:

WHEREAS the parties hereto are parties to a receivables purchase agreement dated as of December 16, 2014 (as amended by amending agreements dated December 15, 2015, September 9, 2016, December 15, 2017, June 29, 2018, February 15, 2019, May 27, 2019 and January 15, 2020, the “RPA”);

AND WHEREAS the parties hereto have agreed to further amend the RPA;

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:


1.	Amendments


(a)	The definition of “Facility Limit” in Section 1.1 of the RPA is amended by deleting the reference to “$320,000,000” in such definition and replacing it with “$420,000,000”.


2.	General


(a)	This Eighth Amending Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.


(b)	This Eighth Amending Agreement shall be binding upon and enure to the benefit of the parties hereto and their respective successors and permitted assigns.


(c)	This Eighth Amending Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which, when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.

[signature page follows]

IN WITNESS WHEREOF the parties have caused this Eighth Amending Agreement to be executed by their respective duly authorized officers as of the date first above written.



		FIRST INSURANCE FUNDING OF CANADA INC.
		By:	/s/John Martin
			Name: John Martin
			Title: SVP Finance

		By:	/s/Stuart Bruce
			Name: Stuart Bruce
			Title: CEO



		CIBC MELLON TRUST COMPANY, in its capacity as trustee of PLAZA TRUST, by its Financial Services Agent, ROYAL BANK OF CANADA
		By:	/s/Nur Khan
			Name: Nur Khan
			Title: Authorized Signatory

		By:	/s/Ian Benaiah
			Name: Ian Benaiah
			Title: Authorized Signatory