as Seller
as Servicer
and
as Administrator and LC Bank
Page | ||||
ARTICLE I | ||||
AMOUNTS AND TERMS OF THE PURCHASES | ||||
Section 1.1 Purchases | 1 | |||
Section 1.2 Making Purchases | 3 | |||
Section 1.3 Purchased Interest Computation | 6 | |||
Section 1.4 Settlement Procedures | 6 | |||
Section 1.5 Fees | 11 | |||
Section 1.6 Payments and Computations, Etc. | 11 | |||
Section 1.7 Increased Costs. | 11 | |||
Section 1.8 Requirements of Law | 13 | |||
Section 1.9 Funding Losses | 13 | |||
Section 1.10 Taxes | 14 | |||
Section 1.11 Inability to Determine Euro-Rate or the LIBOR Market Index Rate | 17 | |||
Section 1.12 Letters of Credit | 18 | |||
Section 1.13 Issuance of Letters of Credit | 18 | |||
Section 1.14 Requirements For Issuance of Letters of Credit | 19 | |||
Section 1.15 Disbursements, Reimbursement | 19 | |||
Section 1.16 Repayment of Participation Advances | 20 | |||
Section 1.17 Documentation | 21 | |||
Section 1.18 Determination to Honor Drawing Request | 21 | |||
Section 1.19 Nature of Participation and Reimbursement Obligations | 21 | |||
Section 1.20 Indemnity | 23 | |||
Section 1.21 Liability for Acts and Omissions | 23 | |||
Section 1.22 Extension of Termination Date | 24 | |||
ARTICLE II | ||||
REPRESENTATIONS AND WARRANTIES; COVENANTS; TERMINATION EVENTS | ||||
Section 2.1 Representations and Warranties; Covenants | 25 | |||
Section 2.2 Termination Events | 25 | |||
ARTICLE III | ||||
INDEMNIFICATION | ||||
Section 3.1 Indemnities by the Seller | 25 | |||
Section 3.2 Indemnities by the Servicer | 27 |
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ARTICLE IV | ||||
ADMINISTRATION AND COLLECTIONS | ||||
Section 4.1 Appointment of the Servicer | 27 | |||
Section 4.2 Duties of the Servicer | 28 | |||
Section 4.3 Lock-Box Account Arrangements | 30 | |||
Section 4.4 Enforcement Rights | 30 | |||
Section 4.5 Responsibilities of the Seller | 31 | |||
Section 4.6 Servicing Fee | 31 | |||
ARTICLE V | ||||
THE AGENTS | ||||
Section 5.1 Appointment and Authorization | 32 | |||
Section 5.2 Delegation of Duties | 33 | |||
Section 5.3 Exculpatory Provisions | 33 | |||
Section 5.4 Reliance by Agents | 33 | |||
Section 5.5 Notice of Termination Events | 34 | |||
Section 5.6 Non-Reliance on Administrator, Purchaser Agents and Other Purchasers | 34 | |||
Section 5.7 Administrator, Purchasers, Purchaser Agents and Affiliates | 35 | |||
Section 5.8 Indemnification | 35 | |||
Section 5.9 Successor Administrator | 35 | |||
ARTICLE VI | ||||
MISCELLANEOUS | ||||
Section 6.1 Amendments, Etc | 36 | |||
Section 6.2 Notices, Etc | 37 | |||
Section 6.3 Successors and Assigns; Participations; Assignments | 37 | |||
Section 6.4 Costs, Expenses and Taxes | 39 | |||
Section 6.5 No Proceedings; Limitation on Payments | 40 | |||
Section 6.6 GOVERNING LAW AND JURISDICTION | 41 | |||
Section 6.7 Confidentiality | 41 | |||
Section 6.8 Execution in Counterparts | 42 | |||
Section 6.9 Survival of Termination | 42 | |||
Section 6.10 WAIVER OF JURY TRIAL | 42 | |||
Section 6.11 Sharing of Recoveries | 42 |
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Section 6.12 Right of Setoff | 42 | |||
Section 6.13 Entire Agreement | 43 | |||
Section 6.14 Headings | 43 | |||
Section 6.15 Purchaser Groups’ Liabilities | 43 | |||
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EXHIBITS | ||
Exhibit I | Definitions | |
Exhibit II | Conditions to Purchases | |
Exhibit III | Representations and Warranties | |
Exhibit IV | Covenants | |
Exhibit V | Termination Events | |
SCHEDULES | ||
Schedule I | Credit and Collection Policy | |
Schedule II | Lock-Box Banks and Lock-Box Accounts | |
Schedule III | Actions and Proceedings | |
ANNEXES | ||
Annex A-1 | Form of Information Package | |
Annex A-2 | Form of Weekly Report | |
Annex B | Form of Purchase Notice | |
Annex C | Form of Assumption Agreement | |
Annex D | Form of Transfer Supplement | |
Annex E | Form of Paydown Notice | |
Annex F | Form of Letter of Credit Application |
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SWIFT RECEIVABLES COMPANY II, LLC, as Seller | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | Swift Receivables Company II, LLC | |||||||
2200 South 75th Avenue | ||||||||
Phoenix, Arizona 85043 | ||||||||
Attention: Jim Fry | ||||||||
Telephone: (602) 269-9700 | ||||||||
Facsimile: (623) 907-7464 | ||||||||
Email: Jim_Fry@swifttrans.com |
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SWIFT TRANSPORTATION SERVICES, LLC, as Servicer | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | Swift Transportation Services, LLC | |||||||
2200 South 75th Avenue | ||||||||
Phoenix, Arizona 85043 | ||||||||
Attention: Jim Fry | ||||||||
Telephone: (602) 269-9700 | ||||||||
Facsimile: (623) 907-7464 | ||||||||
Email: Jim_Fry@swifttrans.com |
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THE PURCHASER GROUPS: | ||||||||
PNC BANK, NATIONAL ASSOCIATION, as Purchaser Agent for the Market Street Purchaser Group | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | PNC Bank, National Association | |||||||
Three PNC Plaza | ||||||||
225 Fifth Avenue | ||||||||
Pittsburgh, Pennsylvania 15222-2724 | ||||||||
Attention: Robyn A. Reeher | ||||||||
Telephone: (412) 768-3090 | ||||||||
Facsimile: (412)762-9184 | ||||||||
Email: robyn.reeher@pnc.com | ||||||||
Market Street Group Commitment: $150,000,000 |
S-3
PNC BANK, NATIONAL ASSOCIATION, | ||||||||
as a Related Committed Purchaser | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | PNC Bank, National Association | |||||||
Three PNC Plaza | ||||||||
225 Fifth Avenue | ||||||||
Pittsburgh, Pennsylvania 15222-2724 | ||||||||
Attention: Robyn A. Reeher | ||||||||
Telephone: (412) 768-3090 | ||||||||
Facsimile: (412)762-9184 | ||||||||
Email: robyn.reeher@pnc.com | ||||||||
Commitment: $150,000,000 |
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MARKET STREET FUNDING LLC, as Conduit Purchaser | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | c/o AMACAR Group, L.L.C. | |||||||
6525 Morrison Blvd., Suite 318 | ||||||||
Charlotte, North Carolina 28211 | ||||||||
Attention: Doris J. Hearn | ||||||||
Telephone: (704) 365-0569 | ||||||||
Facsimile: (704) 365-1362 | ||||||||
Email: djhearn@amacar.com |
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PNC BANK, NATIONAL ASSOCIATION, as the LC Bank | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | PNC Bank, N.A. | |||||||
225 Fifth Avenue | ||||||||
Pittsburgh, Pennsylvania 15222 | ||||||||
Attention: Philip Liebscher | ||||||||
Telephone: (412) 762-3202 | ||||||||
Facsimile: (412) 762-6484 | ||||||||
Email: philip.liebscher@pnc.com | ||||||||
Commitment: $150,000,000 |
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WELLS FARGO BANK, NATIONAL ASSOCIATION, as Purchaser Agent for the Wells Fargo Purchaser Group | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | Wells Fargo Bank, National Association | |||||||
Wells Fargo Capital Finance | ||||||||
6 Concourse Parkway, Suite 1450 | ||||||||
Atlanta, Georgia 30328 | ||||||||
Attention: Elizabeth R. Wagner | ||||||||
Telephone: (404) 732-0819 | ||||||||
Facsimile: (404) 732-0851 Email: elizabeth.wagner@wellsfargo.com | ||||||||
Wells Fargo Group Commitment: $125,000,000 |
S-7
WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Related Committed Purchaser | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | Wells Fargo Bank, National Association | |||||||
Wells Fargo Capital Finance | ||||||||
6 Concourse Parkway, Suite 1450 | ||||||||
Atlanta, Georgia 30328 | ||||||||
Attention: Elizabeth R. Wagner | ||||||||
Telephone: (404) 732-0819 | ||||||||
Facsimile: (404) 732-0851 Email: elizabeth.wagner@wellsfargo.com | ||||||||
Commitment: $125,000,000 |
S-8
WELLS FARGO BANK, NATIONAL ASSOCIATION,as a LC Participant | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | Wells Fargo Bank, National Association | |||||||
Wells Fargo Capital Finance | ||||||||
6 Concourse Parkway, Suite 1450 | ||||||||
Atlanta, Georgia 30328 | ||||||||
Attention: Elizabeth R. Wagner | ||||||||
Telephone: (404) 732-0819 | ||||||||
Facsimile: (404) 732-0851 Email: elizabeth.wagner@wellsfargo.com | ||||||||
Commitment: $125,000,000 |
S-9
PNC BANK, NATIONAL ASSOCIATION, as Administrator | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
Address: | PNC Bank, National Association | |||||||
Three PNC Plaza | ||||||||
225 Fifth Avenue | ||||||||
Pittsburgh, Pennsylvania 15222-2724 | ||||||||
Attention: Robyn A. Reeher | ||||||||
Telephone: (412) 768-3090 | ||||||||
Facsimile: (412)762-9184 | ||||||||
Email: robyn.reeher@pnc.com |
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* | Confidential information on this page has been omitted and filed separately with the Securities and Exchange Commission pursuant to a Confidential Treatment Request. |
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AR | = | the Alternate Rate for such Portion of Capital for such Yield Period with respect to such Purchaser, | ||||
C | = | the daily average Capital with respect to such Portion of Capital during such Yield Period with respect to such Purchaser, | ||||
CPR | = | the CP Rate for the Portion of Capital for such Yield Period with respect to such Purchaser, | ||||
ED | = | the actual number of days during such Yield Period, and | ||||
Year | = | if such Portion of Capital is funded based upon: (i) the Euro-Rate or the LIBOR Market Index Rate, as applicable, 360 days, and (ii) the Base Rate, 365 or 366 days, as applicable; |
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Composite of London interbank offered rates shown on | ||||
Bloomberg Finance L.P. Screen US0001M | ||||
Euro-Rate = | or appropriate successor |
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Net Receivables Pool Balance
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BR | = | the Base Rate in effect at such time, | ||||
DSO | = | the Days’ Sales Outstanding, and | ||||
SFR | = | the Servicing Fee Rate. |
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LOCK-BOX | ||||
BANK | ADDRESS AND NO. | BANK ACCOUNT NO. | ||
PNC Bank, National Association | [*] | [*] | ||
PNC Bank, National Association | [*] | [*] |
* | Confidential information on this page has been omitted and filed separately with the Securities and Exchange Commission pursuant to a Confidential Treatment Request. |
One PNC Plaza, 26th Floor
249 Fifth Avenue
Pittsburgh, PA 15222-2707
Attention: [_____]
Wells Fargo Capital Finance
6 Concourse Parkway, Suite 1450
Atlanta, Georgia 30328
Attention: [_____]
1 | Such amount shall not be less than $300,000 (or such lesser amount as agreed to by the Administrator and the Majority Purchaser Agents) and shall be in integral multiples of $100,000 with respect to each Purchaser Group. | |
2 | In the case of a Borrowing Request. | |
3 | In the case of a request for an issuance of a Letter of Credit. |
Annex B-1
Annex B-2
SWIFT RECEIVABLES COMPANY II, LLC | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
Annex B-3
Annex C-1
Annex C-2
[[ ], as a Conduit Purchaser | ||||||
By: | ||||||
Name: | ||||||
Title: | ] | |||||
[Address] | ||||||
[ ], as a Related Committed Purchaser | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
[Address] [Commitment] | ||||||
[ ], as a related LC Participant | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
[Address] [Commitment] | ||||||
[ ], as Purchaser Agent for [ ] | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
[Address] |
Annex C-3
SWIFT RECEIVABLES COMPANY II, LLC, as Seller | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
Consented and Agreed: | ||||||
PNC BANK, NATIONAL ASSOCIATION, as Administrator | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
Address: | PNC Bank, National Association | |||||
One PNC Plaza | ||||||
249 Fifth Avenue | ||||||
Pittsburgh, Pennsylvania 15222-2707 | ||||||
PNC BANK, NATIONAL ASSOCIATION, as LC Bank | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
Address: | PNC Bank, National Association | |||||
One PNC Plaza | ||||||
249 Fifth Avenue | ||||||
Pittsburgh, Pennsylvania 15222-2707 | ||||||
[THE PURCHASER AGENTS] | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
[Address] |
Annex C-4
Section 1. | ||||
Commitment assigned: | $ | |||
Assignor’s remaining Commitment: | $ | |||
Capital allocable to Commitment assigned: | $ | |||
Assignor’s remaining Capital: | $ | |||
Discount (if any) allocable to Capital assigned: | $ | |||
Discount(if any) allocable to Assignor’s remaining Capital: | $ |
Annex D-1
By: | ||||||
Name: | ||||||
Title: | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
[Address] |
Accepted as of date first above written: | ||||||
[ ], as Purchaser Agent for | ||||||
the [ ] Purchaser Group | ||||||
By | ||||||
Name: | ||||||
Title: | ||||||
Swift Receivables Company II, LLC, as Seller | ||||||
By | ||||||
Name: | ||||||
Title: | ||||||
Annex D-2
One PNC Plaza, 26th Floor
249 Fifth Avenue
Pittsburgh, Pennsylvania 15222-2707
Attention: [_____]
Wells Fargo Capital Finance
6 Concourse Parkway, Suite 1450
Atlanta, Georgia 30328
Attention: [_____]
4 | Notice must be given at least two Business Days prior to the date of such reduction for any reduction of the Aggregate Capital. |
Annex E-3
SWIFT RECEIVABLES COMPANY II, LLC | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
Annex E-4
Annex F-1