Amount of the Credit Line. The aggregate amount of the credit available pursuant to this Agreement (the “Credit Line”) shall be as follows: (a) From August 4, 2017 through December 31, 2017 — $275,000,000.00; (b) From January 1, 2018 through November 1, 2018 — $350,000,000.00; and (c) From November 2, 2018 through October 31, 2020 — $650,000,000.00. D. Dealership will pay the Ally Parties a one-time non-refundable “Seventh Amendment Commitment Fee” equal to [***], payable on the effective date of this Amendment. E. Effective as of November 2, 2018, the Interest rate is 1‑M LIBOR Index Rate plus an “Increment” of 340 basis points. This modifies Subsection III.B(1) of the IFSA. F. Section III.B(1) of the IFSA is further amended by adding the following at the end of such subsection: G. All other provisions of the IFSA remain unchanged and in full force and effect as written. In the event of a conflict between the terms of the IFSA and this Amendment, the terms of this Amendment prevail. H. Except as provided above, the IFSA and all other agreements between each of the Ally Parties and the Dealership remain in full force and effect as written. I. If any provision of this Amendment is held to be invalid or unenforceable by a court of competent jurisdiction, all other provisions remain valid and enforceable. J. This Amendment: a. May be modified only by a writing signed by all parties. b. May be signed in counterparts, each of which is deemed an original, and all of which taken together constitute one and the same agreement. The signatures of the parties, exchanged via fax or e-mail, shall constitute and be deemed original signatures for all purposes. c. Binds and inures to the benefit of the parties and their respective successors and assigns. d. Constitutes the entire agreement of the parties with respect to its subject matter. --------------- [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission.
Appears in 1 contract
Sources: Inventory Financing and Security Agreement (Carvana Co.)
Amount of the Credit Line. The aggregate amount of the credit available pursuant to this Agreement (the “Credit Line”) shall be as follows:
(a) From August 4, 2017 through December 31, 2017 — - $275,000,000.00;; and
(b) From January 1, 2018 through November 1December 31, 2018 — - $350,000,000.00; and
(c) From November 2, 2018 through October 31, 2020 — $650,000,000.00.
D. Dealership will pay the Ally Parties a one-time non-refundable “Seventh Sixth Amendment Commitment Fee” equal to $[***], payable on the effective date of this Amendment.
E. Effective as of November 2August 1, 20182017, the Interest rate is 1‑M 1-M LIBOR Index Rate plus an “Increment” of 340 365 basis points. This modifies Subsection III.B(1) of the IFSA.
F. Section III.B(1) of the IFSA is further amended by adding the following at the end of such subsection:
G. All other provisions of the IFSA remain unchanged and in full force and effect as written. In the event of a conflict between the terms of the IFSA and this Amendment, the terms of this Amendment prevail.
H. G. Except as provided above, the IFSA and all other agreements between each of the Ally Parties and the Dealership remain in full force and effect as written.
I. H. If any provision of this Amendment is held to be invalid or unenforceable by a court of competent jurisdiction, all other provisions remain valid and enforceable.
J. I. This Amendment:
a. May be modified only by a writing signed by all parties.
b. May be signed in counterparts, each of which is deemed an original, and all of which taken together constitute one and the same agreement. The signatures of the parties, exchanged via fax or e-mail, shall constitute and be deemed original signatures for all purposes.
c. Binds and inures to the benefit of the parties and their respective successors and assigns.
d. Constitutes the entire agreement of the parties with respect to its subject matter. --------------- [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission.
Appears in 1 contract
Sources: Inventory Financing and Security Agreement (Carvana Co.)