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Second Amendment To Receivables Financing Agrmt

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Sectors: Banking
Governing Law: New York, View New York State Laws
Effective Date: February 16, 2001
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SECOND AMENDMENT, dated as of February 16, 2001 (this "Amendment"), to the RECEIVABLES FINANCING AGREEMENT, dated as of August 18, 2000 (as previously amended, supplemented or modified, the "Existing Agreement"; and as amended by this Amendment, the "Agreement"), among Drive BOS LP, a Delaware limited partnership (the "Borrower"), Drive Financial Services LP, a Delaware limited partnership, in its individual capacity ("Drive") and as Initial Servicer, the Lenders party thereto, IFA Incorporated ("IFA"), as agent (in such capacity, the "Agent") for the Lenders and as Collateral Agent (in such capacity, the "Collateral Agent"), and Wells Fargo Bank Minnesota, National Association, a national banking association, as Custodian.

W I T N E S S E T H :

WHEREAS, the parties wish to increase the amount of the facility and extend the maturity thereof;

NOW, THEREFORE, it is agreed:

Section 1. Definitions. Terms used in this Amendment which are defined in the Existing Agreement shall have the meanings specified therein (unless otherwise defined herein) and shall include in the singular number the plural and in the plural number the singular.

Section 2. Amendments. Upon the Amendment Effective Date (as defined in Section 3 below):

2.1 Commitment. The Commitment of IFA Incorporated is hereby amended to be $150,000,000.

2.2 Amended Definition. Section 1.1 of the Agreement is amended by deleting the definition of "Commitment Termination Date" in its entirety and substituting, in lieu thereof, the following:

"Commitment Termination Date" means February 15, 2002,
as such date may be extended from time to time as mutually
agreed in writing between the Borrower, the Servicer, the Agent
and the Lenders.

2.3 Facility Limit. Section 1.1 of the Agreement is amended by deleting the definition of "Facility Limit" and substituting, in lieu thereof, the following:

"Facility Limit" means, on any day, (a) the lesser of
(x) $150,000,000 and (y) the Total Commitment in effect on such
day, as such amount may be reduced pursuant to Section 2.5 minus
(b) any outstanding LOC Obligations. References to the unused
portion of the Facility Limit shall mean, at any time, the
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