Third Amending Agreement, dated as of December 15, 2017, 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 exhibit101.htm EXHIBIT 10.1 THIRD AMENDING AGREEMENT Exhibit
(hereinafter referred to as the “Seller” or the “Servicer”)
(hereinafter referred to as the “Purchaser”)
EXHIBIT 10.1
THIRD AMENDING AGREEMENT
(First Insurance Funding of Canada Inc.)
(First Insurance Funding of Canada Inc.)
This Third Amending Agreement made as of December 15, 2017.
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 and September 9, 2016, 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 “Commitment Maturity Date” in Section 1.1 of the RPA is amended by deleting the reference to “December 15, 2017” in such definition and replacing it with “December 16, 2019”. |
(b) | The definition of “Facility Limit” in Section 1.1 of the RPA is amended by deleting the reference to “$160,000,000” in such definition and replacing it with “$170,000,000” |
2. | General |
(a) | This Third 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 Third Amending Agreement shall be binding upon and enure to the benefit of the parties hereto and their respective successors and permitted assigns. |
(c) | This Third 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. |
IN WITNESS WHEREOF the parties have caused this Third 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/Stuart G. Bruce | ||
Name: Stuart G. Bruce | |||
Title: Chief Executive Officer | |||
By: | /s/John Martin | ||
Name: John Martin | |||
Title: Senior Vice President | |||
CIBC MELLON TRUST COMPANY, in its capacity as trustee of PLAZA TRUST, by its Financial Services Agent, ROYAL BANK OF CANADA | |||
By: | /s/ Ian Benaiah | ||
Name: Ian Benaiah | |||
Title: Authorized Signatory | |||
By: | /s/Nur Khan | ||
Name: Nur Khan | |||
Title: Authorized Signatory | |||
