Exhibit 5.1
[Jones Day Letterhead]
September 30, 2020
Asbury Automotive Group, Inc.
2905 Premiere Parkway, NW, Suite 300
Duluth, Georgia 30097
Re: | Registration Statement on Form S-4 Filed by Asbury Automotive Group, Inc. |
Relating to the Exchange Offer (as defined below) |
Ladies and Gentlemen:
We have acted as counsel for Asbury Automotive Group, Inc., a Delaware corporation (the “Company”), and the Subsidiary Guarantors (as defined below) in connection with the Registration Statement on Form S-4 to which this opinion has been filed as an exhibit (the “Registration Statement”). The Registration Statement relates to the proposed issuance and exchange (the “Exchange Offer”) of up to $405,000,000 aggregate principal amount of 4.50% Senior Notes due 2028 of the Company (the “2028 Exchange Notes”) and up to $445,000,000 aggregate principal amount of 4.75% Senior Notes due 2030 of the Company (the “2030 Exchange Notes,” and together with the 2028 Exchange Notes, the “Exchange Notes”) for an equal aggregate principal amount of 4.50% Senior Notes due 2028 of the Company outstanding on the date hereof (the “2028 Outstanding Notes”) and 4.75% Senior Notes due 2030 of the Company outstanding on the date hereof (the “2030 Outstanding Notes,” and together with the 2028 Outstanding Notes, the “Outstanding Notes”). The Outstanding Notes of each series have been, and the Exchange Notes of each series will be, respectively, issued pursuant to the Indenture relating to the 2028 Outstanding Notes, dated as of February 19, 2020, as supplemented by an officer’s certificate dated September 16, 2020, and the Indenture relating to the 2030 Outstanding Notes, dated as of February 19, 2020, as supplemented by an officer’s certificate dated September 16, 2020 (collectively, the “Indentures”), by and among the Company, the guarantors listed on Annex A hereto (each, a “Covered Guarantor” and, collectively, the “Covered Guarantors”), the guarantors listed on Annex B hereto (each, an “Other Guarantor” and, collectively, the “Other Guarantors”; such Other Guarantors and the Covered Guarantors collectively referred to as the “Subsidiary Guarantors”) and U.S. Bank National Association, as trustee (the “Trustee”). The Outstanding Notes of each series are, and the Exchange Notes of each series will be, guaranteed (each, a “Subsidiary Guarantee”) on a joint and several basis by the Subsidiary Guarantors.
Asbury Automotive Group, Inc. September 30, 2020 Page 2 |
In connection with the opinions expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of such opinions.
Based on the foregoing, and subject to the further limitations, qualifications and assumptions set forth herein, we are of the opinion that:
1. The Exchange Notes, when they are executed by the Company, authenticated by the Trustee in accordance with the applicable Indentures and issued and delivered in exchange for the Outstanding Notes in accordance with the terms of the Exchange Offer, will constitute valid and binding obligations of the Company.
2. The Subsidiary Guarantee of the Exchange Notes (each, an “Exchange Guarantee”) of each Covered Guarantor, when it is issued and delivered in exchange for the Subsidiary Guarantee of the Outstanding Notes (each, an “Outstanding Guarantee”) of that Covered Guarantor in accordance with the terms of the Exchange Offer, will constitute a valid and binding obligation of that Covered Guarantor.
3. The Exchange Guarantee of each Other Guarantor, when it is issued and delivered in exchange for the Outstanding Guarantee of that Other Guarantor in accordance with the terms of the Exchange Offer, will constitute a valid and binding obligation of that Other Guarantor.
The opinions set forth above are subject to the following limitations, qualifications and assumptions:
For purposes of the opinions expressed herein, we have assumed that (i) the Trustee has authorized, executed and delivered the applicable Indentures and that the Indentures are the valid, binding and enforceable obligations of the Trustee and (ii) the Outstanding Notes have been duly authenticated by the Trustee in accordance with the applicable Indentures.
For the purposes of our opinion set forth in paragraph 3 above, we have further assumed that (i) each of the Other Guarantors is a corporation or limited liability company existing and in good standing under the laws of its jurisdiction of incorporation or organization as listed opposite such Other Guarantor’s name on Annex B hereto (each, a “Jurisdiction”); (ii) the applicable Indentures and the Exchange Guarantees (a) have been authorized by all necessary corporate or limited liability company action, as applicable, of each of the Other Guarantors and (b) have been executed and delivered by each of the Other Guarantors under the laws of the applicable Jurisdiction; and (iii) the execution, delivery, performance and compliance with the terms and provisions of the applicable Indentures and the Exchange Guarantees by each of the Other Guarantors do not violate or conflict with the laws of the applicable Jurisdiction, the provisions
Asbury Automotive Group, Inc. September 30, 2020 Page 3 |
of its articles of incorporation, bylaws or other similar formation or organizational documents, as applicable, or any rule, regulation, order, decree, judgment, instrument or agreement binding upon or applicable to such Other Guarantor or its properties.
The opinions expressed herein are limited by (i) bankruptcy, insolvency, reorganization, fraudulent transfer and fraudulent conveyance, voidable preference, moratorium or other similar laws, and related regulations and judicial doctrines from time to time in effect relating to or affecting creditors’ rights and remedies generally, and (ii) general equitable principles and public policy considerations, whether such principles and considerations are considered in a proceeding at law or in equity.
As to facts material to the opinions and assumptions expressed herein, we have relied upon oral or written statements and representations of officers and other representatives of the Company and the Subsidiary Guarantors. The opinions expressed herein are limited to the laws of the State of New York, the General Corporation Law of the State of Delaware, the Delaware Revised Uniform Limited Partnership Act and the Delaware Limited Liability Company Act, and the laws of the State of Florida, in each case as currently in effect, and we express no opinion as to the effect of the laws of any other jurisdiction.
We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to the reference to Jones Day under the caption “Legal Matters” in the prospectus constituting a part of such Registration Statement. In giving such consent, we do not hereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act of 1933 or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.
Very truly yours,
/s/ Jones Day
Annex A
COVERED GUARANTORS
Entity | State of Incorporation or Organization | |
AF Motors, L.L.C. | Delaware | |
ANL, L.P. | Delaware | |
Arkansas Automotive Services, L.L.C. | Delaware | |
Asbury AR Niss L.L.C. | Delaware | |
Asbury Arlington MB, LLC | Delaware | |
Asbury Atlanta AC L.L.C. | Delaware | |
Asbury Atlanta AU L.L.C. | Delaware | |
Asbury Atlanta BM L.L.C. | Delaware | |
Asbury Atlanta CHEV, LLC | Delaware | |
Asbury Atlanta Chevrolet L.L.C. | Delaware | |
Asbury Atlanta Ford, LLC | Delaware | |
Asbury Atlanta Hon L.L.C. | Delaware | |
Asbury Atlanta Hund L.L.C. | Delaware | |
Asbury Atlanta Inf L.L.C. | Delaware | |
Asbury Atlanta Infiniti L.L.C. | Delaware | |
Asbury Atlanta Jaguar L.L.C. | Delaware | |
Asbury Atlanta K L.L.C. | Delaware | |
Asbury Atlanta Lex L.L.C. | Delaware | |
Asbury Atlanta Nis II, LLC | Delaware | |
Asbury Atlanta Nis L.L.C. | Delaware | |
Asbury Atlanta Toy 2 L.L.C. | Delaware | |
Asbury Atlanta Toy L.L.C. | Delaware | |
Asbury Atlanta VB L.L.C. | Delaware | |
Asbury Atlanta VL L.L.C. | Delaware | |
Asbury Austin JLR, LLC | Delaware | |
Asbury Automotive Arkansas Dealership Holdings L.L.C. | Delaware | |
Asbury Automotive Arkansas L.L.C. | Delaware | |
Asbury Automotive Atlanta II L.L.C. | Delaware | |
Asbury Automotive Atlanta L.L.C. | Delaware | |
Asbury Automotive Brandon, L.P. | Delaware | |
Asbury Automotive Central Florida, L.L.C. | Delaware | |
Asbury Automotive Deland, L.L.C. | Delaware | |
Asbury Automotive Fresno L.L.C. | Delaware | |
Asbury Automotive Group L.L.C. | Delaware | |
Asbury Automotive Jacksonville GP L.L.C. | Delaware | |
Asbury Automotive Jacksonville, L.P. | Delaware | |
Asbury Automotive Management L.L.C. | Delaware | |
Asbury Automotive Mississippi L.L.C. | Delaware | |
Asbury Automotive North Carolina Dealership Holdings | Delaware | |
Asbury Automotive North Carolina L.L.C. | Delaware | |
Asbury Automotive North Carolina Management L.L.C. | Delaware | |
Asbury Automotive North Carolina Real Estate Holdings | Delaware | |
Asbury Automotive Oregon L.L.C. | Delaware |
Entity | State of Incorporation or Organization | |
Asbury Automotive Southern California L.L.C. | Delaware | |
Asbury Automotive St. Louis II L.L.C. | Delaware | |
Asbury Automotive St. Louis, L.L.C. | Delaware | |
Asbury Automotive Tampa GP L.L.C. | Delaware | |
Asbury Automotive Tampa, L.P. | Delaware | |
Asbury Automotive Texas L.L.C. | Delaware | |
Asbury Automotive Texas Real Estate Holdings L.L.C. | Delaware | |
Asbury Automotive West, LLC | Delaware | |
Asbury CH Motors L.L.C. | Delaware | |
Asbury CO CDJR, LLC | Delaware | |
Asbury CO SUB, LLC | Delaware | |
Asbury Dallas BEN, LLC | Delaware | |
Asbury Dallas KAR, LLC | Delaware | |
Asbury Dallas MAS, LLC | Delaware | |
Asbury Dallas MB, LLC | Delaware | |
Asbury Dallas MCL, LLC | Delaware | |
Asbury Dallas POR, LLC | Delaware | |
Asbury Dallas RR, LLC | Delaware | |
Asbury Dallas VOL, LLC | Delaware | |
Asbury Deland Hund, LLC | Delaware | |
Asbury Deland Imports 2, L.L.C. | Delaware | |
Asbury DFW JLR, LLC | Delaware | |
Asbury Fort Worth MB, LLC | Delaware | |
Asbury Fresno Imports L.L.C. | Delaware | |
Asbury Ft. Worth Ford, LLC | Delaware | |
Asbury Georgia TOY, LLC | Delaware | |
Asbury Grapevine LEX, LLC | Delaware | |
Asbury IN CBG, LLC | Delaware | |
Asbury IN CDJ, LLC | Delaware | |
Asbury IN CHEV, LLC | Delaware | |
Asbury IN FORD, LLC | Delaware | |
Asbury IN HON, LLC | Delaware | |
Asbury IN TOY, LLC | Delaware | |
Asbury Indy Chev, LLC | Delaware | |
Asbury Jax AC, LLC | Delaware | |
Asbury Jax Ford, LLC | Delaware | |
Asbury Jax Holdings, L.P. | Delaware | |
Asbury Jax Hon L.L.C. | Delaware | |
Asbury Jax K L.L.C. | Delaware | |
Asbury Jax Management L.L.C. | Delaware | |
Asbury Jax VW L.L.C. | Delaware | |
Asbury MS CHEV L.L.C. | Delaware | |
Asbury MS Gray-Daniels L.L.C. | Delaware | |
Asbury No Cal Niss L.L.C. | Delaware | |
Asbury Plano LEX, LLC | Delaware | |
Asbury Sacramento Imports L.L.C. | Delaware | |
Asbury SC JPV L.L.C. | Delaware | |
Asbury SC LEX L.L.C. | Delaware |
Entity | State of Incorporation or Organization | |
Asbury SC Toy L.L.C. | Delaware | |
Asbury So Cal DC L.L.C. | Delaware | |
Asbury So Cal Hon L.L.C. | Delaware | |
Asbury So Cal Niss L.L.C. | Delaware | |
Asbury South Carolina Real Estate Holdings L.L.C. | Delaware | |
Asbury St. Louis Cadillac L.L.C. | Delaware | |
Asbury St. Louis FSKR, L.L.C. | Delaware | |
Asbury St. Louis Lex L.L.C. | Delaware | |
Asbury St. Louis LR L.L.C. | Delaware | |
Asbury St. Louis M L.L.C. | Delaware | |
Asbury Tampa Management L.L.C. | Delaware | |
Asbury Texas D FSKR, L.L.C. | Delaware | |
Asbury Texas H FSKR, L.L.C. | Delaware | |
Asbury TX Auction, LLC | Delaware | |
Asbury-Deland Imports, L.L.C. | Delaware | |
Atlanta Real Estate Holdings L.L.C. | Delaware | |
Avenues Motors, Ltd. | Florida | |
Bayway Financial Services, L.P. | Delaware | |
BFP Motors L.L.C. | Delaware | |
C & O Properties, Ltd. | Florida | |
Camco Finance II L.L.C. | Delaware | |
CFP Motors L.L.C. | Delaware | |
CH Motors L.L.C. | Delaware | |
CHO Partnership, Ltd. | Florida | |
CK Chevrolet L.L.C. | Delaware | |
CK Motors LLC | Delaware | |
CN Motors L.L.C. | Delaware | |
Coggin Automotive Corp. | Florida | |
Coggin Cars L.L.C. | Delaware | |
Coggin Chevrolet L.L.C. | Delaware | |
Coggin Management, L.P. | Delaware | |
CP-GMC Motors L.L.C. | Delaware | |
Crown CHH L.L.C. | Delaware | |
Crown CHO L.L.C. | Delaware | |
Crown CHV L.L.C. | Delaware | |
Crown FDO L.L.C. | Delaware | |
Crown FFO Holdings L.L.C. | Delaware | |
Crown FFO L.L.C. | Delaware | |
Crown GAC L.L.C. | Delaware | |
Crown GBM L.L.C. | Delaware | |
Crown GCA L.L.C. | Delaware | |
Crown GDO L.L.C. | Delaware | |
Crown GHO L.L.C. | Delaware | |
Crown GNI L.L.C. | Delaware | |
Crown GPG L.L.C. | Delaware | |
Crown GVO L.L.C. | Delaware | |
Crown Motorcar Company L.L.C. | Delaware | |
Crown PBM L.L.C. | Delaware |
Entity | State of Incorporation or Organization | |
Crown RIA L.L.C. | Delaware | |
Crown RIB L.L.C. | Delaware | |
Crown SJC L.L.C. | Delaware | |
Crown SNI L.L.C. | Delaware | |
CSA Imports L.L.C. | Delaware | |
Escude-NN L.L.C. | Delaware | |
Escude-NS L.L.C. | Delaware | |
Escude-T L.L.C. | Delaware | |
Florida Automotive Services L.L.C. | Delaware | |
HFP Motors L.L.C. | Delaware | |
JC Dealer Systems, LLC | Delaware | |
KP Motors L.L.C. | Delaware | |
McDavid Austin-Acra L.L.C. | Delaware | |
McDavid Frisco-Hon L.L.C. | Delaware | |
McDavid Grande, L.L.C. | Delaware | |
McDavid Houston-Hon, L.L.C. | Delaware | |
McDavid Houston-Niss, L.L.C. | Delaware | |
McDavid Irving-Hon, L.L.C. | Delaware | |
McDavid Outfitters, L.L.C. | Delaware | |
McDavid Plano-Acra, L.L.C. | Delaware | |
Mid-Atlantic Automotive Services, L.L.C. | Delaware | |
Mississippi Automotive Services, L.L.C. | Delaware | |
Missouri Automotive Services, L.L.C. | Delaware | |
NP FLM L.L.C. | Delaware | |
NP MZD L.L.C. | Delaware | |
NP VKW L.L.C. | Delaware | |
Plano Lincoln-Mercury, Inc. | Delaware | |
Precision Computer Services, Inc. | Florida | |
Precision Enterprises Tampa, Inc. | Florida | |
Precision Infiniti, Inc. | Florida | |
Precision Motorcars, Inc. | Florida | |
Precision Nissan, Inc. | Florida | |
Premier NSN L.L.C. | Delaware | |
Premier Pon L.L.C. | Delaware | |
Prestige Bay L.L.C. | Delaware | |
Prestige Toy L.L.C. | Delaware | |
Q Automotive Brandon FL, LLC | Delaware | |
Q Automotive Cumming GA, LLC | Delaware | |
Q Automotive Ft. Myers FL, LLC | Delaware | |
Q Automotive Group L.L.C. | Delaware | |
Q Automotive Holiday FL, LLC | Delaware | |
Q Automotive Jacksonville FL, LLC | Delaware | |
Q Automotive Kennesaw GA, LLC | Delaware | |
Q Automotive Orlando FL, LLC | Delaware | |
Q Automotive Tampa FL, LLC | Delaware | |
Southern Atlantic Automotive Services, L.L.C. | Delaware | |
Tampa Hund, L.P. | Delaware | |
Tampa Kia, L.P. | Delaware |
Entity | State of Incorporation or Organization | |
Tampa LM, L.P. | Delaware | |
Tampa Mit, L.P. | Delaware | |
Texas Automotive Services, L.L.C. | Delaware | |
Thomason Dam L.L.C. | Delaware | |
Thomason FRD L.L.C. | Delaware | |
Thomason Hund L.L.C. | Delaware | |
Thomason Pontiac-GMC L.L.C. | Delaware | |
WMZ Motors, L.P. | Delaware | |
WTY Motors, L.P. | Delaware |
Annex B
OTHER GUARANTORS
Entity | State of Incorporation | |
Crown Acura/Nissan, LLC | North Carolina | |
Crown Honda, LLC | North Carolina | |
Thomason Auto Credit Northwest, Inc. | Oregon |