EXHIBIT 10.4
EXECUTION COPY
AMENDMENT NO. 1 TO THE LOAN AGREEMENT
AMENDMENT NO. 1 TO THE LOAN AGREEMENT made as of the 27th day of February,
2003
BETWEEN:
AMERICREDIT FINANCIAL SERVICES OF
CANADA LTD., a corporation amalgamated
under the laws of Canada
(the "Seller" and "Servicer")
and
AMERICREDIT CANADA FUNDING TRUST I,
a trust established under the laws of the province of
Ontario by its trustee (the "Trustee"), CIBC
MELLON TRUST COMPANY, a trust company
incorporated under the laws of Canada
(the "Trust")
- and -
CONGRESS FINANCIAL CORPORATION
(CANADA), an Ontario corporation
(the "Lender" and "Collateral Agent")
WHEREAS the Seller, the Servicer, the Trust, the Lender and the Collateral Agent
entered into a loan agreement dated as of April 30, 2002 (the "Loan Agreement")
pursuant to which the Lender agreed to provide funds to the Trust for the
purchase of Receivables under the Receivables Purchase Agreement;
NOW THEREFORE THIS AMENDMENT NO. 1 TO THE LOAN AGREEMENT that, in consideration
of the premises, covenants and agreements of the parties herein contained and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by each party, the parties hereby covenant and agree as
follows:
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ARTICLE 1
INTERPRETATION
1.1 DEFINED TERMS
Capitalized terms not otherwise defined herein shall have the respective
meanings ascribed thereto in Exhibit I to the Receivables Purchase Agreement.
ARTICLE 2
AMENDMENT TO THE LOAN AGREEMENT
2.1 AMENDMENT TO SECTION 3.1
Section 3.1 of the Loan Agreement is hereby deleted and replaced with the
following:
"The initial term of this Agreement and the facility described herein shall
expire on February 27, 2003 (the "Initial Commitment Expiry Date")."
ARTICLE 3
MISCELLANEOUS PROVISIONS
3.1 MISCELLANEOUS
(a) Amendment No. 1 to the Loan Agreement made or effected hereby shall be
effective as of, from and as if executed and delivered on February 24,
2003 notwithstanding the actual day of execution and delivery of this
Amendment No.1.
(b) In this amending agreement, unless there is something in the subject
matter or context inconsistent therewith, "this agreement", "hereto",
"hereof", "herein", "hereby", "hereunder" and similar expressions
refer to this amending agreement and not to any particular section or
other portion hereof.
(c) The Loan Agreement, as amended, and all related documents are ratified
and confirmed in all respects and continue in full force and effect
otherwise unamended.
(d) Amendment No. 1 to the Loan Agreement may be executed in counterparts,
each of which shall constitute an original and all of which when taken
together shall constitute one and the same instrument.
(e) Each party shall do, execute, acknowledge and deliver or cause to be
done, executed, acknowledged and delivered, such further acts, deeds,
mortgages, transfers and assurances as are reasonably required for the
purpose of accomplishing and effecting the intention of this Amendment
No. 1.
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IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment No. 1
to the Loan Agreement to be duly executed by their respective officers as of the
day and year first above written.
AMERICREDIT FINANCIAL SERVICES
OF CANADA LTD., as Seller and Servicer
By:
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Name: Katharyn Harlow
Title: Vice President, Finance
AMERICREDIT CANADA FUNDING
TRUST I by its Trustee CIBC MELLON
TRUST COMPANY, by its Administrator
AMERICREDIT FINANCIAL SERVICES
OF CANADA LTD.
By:
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Name: Katharyn Harlow
Title: Vice President, Finance
CONGRESS FINANCIAL CORPORATION
(CANADA), as Lender and Collateral Agent
By:
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Name:
Title: