Exhibit 10.1

Execution Copy

SECOND AMENDMENT TO CREDIT AGREEMENT

THIS SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of October 27, 2009 (this
“Amendment”), is by and among ASSET ACCEPTANCE CAPITAL CORP. (the “Borrower”),
the Lenders party to the Credit Agreement described below (collectively, the
“Lenders” and individually, a “Lender”), and JPMORGAN CHASE BANK, N.A., a
national banking association, as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”).

RECITALS

A. The Borrower, the Administrative Agent and the Lenders entered into a Credit
Agreement, dated as of June 5, 2007 (as amended by a First Amendment to Credit
Agreement dated as of March 10, 2008, and as further amended or modified from
time to time, the “Credit Agreement”).

B. The Borrower desires to amend the Credit Agreement, and the Administrative
Agent and the Lenders are willing to do so strictly in accordance with the terms
hereof.

TERMS

In consideration of the premises and of the mutual agreements herein contained,
the parties agree as follows:

ARTICLE 1.

AMENDMENTS

Upon the satisfaction of the conditions set forth in Article 3 hereof, the
Credit Agreement shall be amended as follows:

1.1 The following definitions in Section 1.01 are restated as follows:

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest
of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective
Rate in effect on such day plus  1/2 of 1% or (c) the Adjusted LIBO Rate for a
one month Interest Period on such day (or if such day is not a Business Day, the
immediately preceding Business Day) plus 1%, provided that, for the avoidance of
doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing
on the Reuters Screen LIBOR01 Page 1 (or on any successor or substitute page) at
approximately 11:00 a.m. London time on such day. Any change in the Alternate
Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or
the Adjusted LIBO Rate shall be effective from and including the effective date
of such change in the Prime Rate, the Federal Funds Effective Rate or the
Adjusted LIBO Rate, respectively.

“Applicable Margin” means, for any day, (a) with respect to any Eurocurrency
Loan or ABR Loan that is a Tranche B Term Loan, as the case may be, the
applicable rate per annum set forth below under the caption “Tranche B
Eurocurrency Spread” or “Tranche B ABR Spread”, as the case may be, based upon
the Leverage Ratio as of the most recent determination date and (b) with respect
to any Eurocurrency Loan or ABR Loan that is a Revolving Loan or with respect to
the commitment fees or fees on Letters of Credit payable hereunder, as the case
may be, the applicable rate per annum set forth below under the caption
“Revolving Eurocurrency Spread”, “Revolving ABR Spread”, “Commitment Fee Rate”
or “Letter of Credit Fee”, as the case may be, based upon the Leverage Ratio as
of the most recent determination date:

 

Level

  

Leverage Ratio

   Tranche B
Eurocurrency
Spread     Revolving
Eurocurrency
Spread and Letter
of Credit Fee     Tranche B
ABR Spread     Revolving
ABR Spread     Commitment
Fee Rate  

I

   < 0.375    3.25 %    2.50 %    2.25 %    1.50 %    0.50 % 

II

   ³ 0.375 and < 0.625    3.25 %    2.75 %    2.25 %    1.75 %    0.50 % 

III

   ³ 0.625 and < 0.875    3.25 %    3.00 %    2.25 %    2.00 %    0.50 % 

IV

   ³ 0.875 and < 1.125    3.50 %    3.25 %    2.50 %    2.25 %    0.50 % 

V

   ³ 1.125    3.50 %    3.50 %    2.50 %    2.50 %    0.50 % 

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The Applicable Margin shall be determined in accordance with the foregoing table
based on the Leverage Ratio as of the end of each Fiscal Quarter. Adjustments,
if any, to the Applicable Margin shall be effective the first day of the month
following the month that the Administrative Agent is scheduled to receive the
applicable financials under Section 5.01(a) or (b) and certificate under
Section 5.01(c). If the Borrower fails to deliver the financials to the
Administrative Agent at the time required hereunder, then the Applicable Margin
shall be set at Level IV until such financials are so delivered. Notwithstanding
anything herein to the contrary, the Applicable Margin shall be set at Level III
as of the effective date of the Second Amendment to this Agreement.

“Consolidated Adjusted EBITDA” means Consolidated Net Income plus, to the extent
deducted from revenues in determining Consolidated Net Income, (a) Consolidated
Interest Expense, (b) expense for taxes paid or accrued net of tax refunds,
(c) depreciation expense, (d) amortization expense (excluding amortization of
Receivables), (e) the Amortized Collections and (f) non-cash losses and non-cash
expenses, minus, to the extent included in Consolidated Net Income,
extraordinary gains (as determined in accordance with GAAP) realized other than
in the ordinary course of business and non-cash gains and other non-cash income,
all calculated for the Borrower and its Subsidiaries on a consolidated basis.

“Defaulting Lender” means any Lender, as determined by the Administrative Agent,
that has (a) failed to fund any portion of its Loans or participations in
Letters of Credit or Swingline Loans within three Business Days of the date
required to be funded by it hereunder, (b) notified the Borrower, the
Administrative Agent, the Issuing Bank, the Swingline Lender or any Lender in
writing that it does not intend to comply with any of its funding obligations
under this Agreement or has made a public statement to the effect that it does
not intend to comply with its funding obligations under this Agreement or under
other agreements in which it commits to extend credit, (c) failed, within three
Business Days after request by the Administrative Agent, to confirm that it will
comply with the terms of this Agreement relating to its obligations to fund
prospective Loans and participations in then outstanding Letters of Credit and
Swingline Loans, (d) otherwise failed to pay over to the Administrative Agent or
any other Lender any other amount required to be paid by it hereunder within
three Business Days of the date when due, unless the subject of a good faith
dispute, or (e) (i) become or is insolvent or has a parent company that has
become or is insolvent or (ii) become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to,
approval of or acquiescence in any such proceeding or appointment or has a
parent company that has become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to,
approval of or acquiescence in any such proceeding or appointment; provided,
however, in all cases that a Defaulting Lender shall no longer be deemed a
Defaulting Lender when the Defaulting Lender shall have cured the conditions
which shall have caused it to be a Defaulting Lender hereunder.

 

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“Required Lenders” means, at any time, Lenders having Credit Exposure and unused
Commitments representing more than 50% of the sum of the total Credit Exposure
and unused Commitments at such time. The “Required Lenders” of a particular
Class of Loans means Lenders having Revolving Exposures, outstanding Tranche B
Term Loans and unused Commitments of such Class, as applicable, representing
more than 50% of the total Revolving Exposures, outstanding Tranche B Term Loans
and unused Commitments of such Class, as applicable, at such time. The Credit
Exposure and unused Commitments of any Defaulting Lender shall be disregarded in
determining Required Lenders at any time, except in respect of any matters which
would treat the Defaulting Lender differently from the other Lenders in the same
Class of Loans.

“Required Revolving Lenders” means, at any time, Lenders having Revolving
Exposure and unused Revolving Commitments representing more than 50% of the sum
of the total Revolving Exposure and unused Revolving Commitments at such time.
The Revolving Exposure and unused Revolving Commitments of any Defaulting Lender
shall be disregarded in determining Required Revolving Lenders at any time
except in respect of any matters which would treat the Defaulting Lender
differently from the other Lenders having Revolving Exposure.

1.2 The following definition is added to Section 1.01 of the Credit Agreement:

“Related Investment” means an investment by the Company or any of its
Subsidiaries in a vendor to the Company or any of its Subsidiaries or in a
Person engaged in a business that is conducted by the Borrower or any of its
Subsidiaries on the date of execution of this Agreement and businesses
reasonably related thereto.

1.3 Reference in the definition of “Change in Control” to “25%” is replaced with
“35%”.

1.4 Reference in the definition of “Excess Cash Flow” to (a) “non-cash charges”
is replaced with “non-cash losses and non-cash expenses” and (b) “non-cash
income items” is replaced with “non-cash gains and other non-cash income”.

1.5 The following new Section 2.21 is added to the Credit Agreement:

SECTION 2.21 Defaulting Lenders. Notwithstanding any provision of this Agreement
to the contrary, if any Lender becomes a Defaulting Lender, then the following
provisions shall apply for so long as such Lender is a Defaulting Lender:

(a) if any Swingline Exposure or LC Exposure exists at the time a Lender is a
Defaulting Lender, the Borrower shall within one Business Day following notice
by the Administrative Agent (i) prepay such Swingline Exposure or, if agreed by
the Swingline Lender, cash collateralize the Swingline Exposure of the
Defaulting Lender on terms satisfactory to the Swingline Lender and (ii) cash
collateralize such Defaulting Lender’s LC Exposure in accordance with the
procedures set forth in Section 7.01 for so long as such LC Exposure is
outstanding; and

(b) the Swingline Lender shall not be required to fund any Swingline Loan and
the Issuing Bank shall not be required to issue, amend or increase any Letter of
Credit unless it is satisfied that cash collateral will be provided by the
Borrower in accordance with Section 2.21(a).

 

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1.6 Reference in Section 3.04(b) to “December 31, 2006” is replaced with
“December 31, 2008”.

1.7 The period at the end of Section 6.04(e) is replaced with “: and” and the
following new Section 6.04(f) is added to the Credit Agreement:

(f) Related Investments in an aggregate amount, measured as of the time made,
not to exceed $5,000,000

1.8 Section 6.09 entitled “Change of Name or Location; Change of Fiscal Year” is
restated as follows:

SECTION 6.09. Change of Name or Location; Change of Fiscal Year. No Loan Party
shall (a) change its name as it appears in official filings in the state of its
incorporation or organization, (b) change the type of entity that it is,
(c) change its organization identification number, if any, issued by its state
of incorporation or other organization or mailing address, or (d) change its
state of incorporation or organization, in each case, unless the Administrative
Agent shall have received at least thirty days prior written notice of such
change and the Administrative Agent shall have acknowledged in writing that
either (1) such change will not adversely affect the validity, perfection or
priority of the Administrative Agent’s security interest in the Collateral, or
(2) any reasonable action requested by the Administrative Agent in connection
therewith has been completed or taken (including any action to continue the
attachment, priority, perfection or enforceability of any Liens in favor of the
Administrative Agent, on behalf of Lenders, in any Collateral). No Loan Party
shall change its chief executive office or principal place of business unless
the Administrative Agent shall have received at least thirty days’ prior written
notice of such change and the new chief executive office or principal place of
business is located in the continental U.S. and such Loan Party shall have
promptly taken any reasonable action requested by the Administrative Agent in
connection therewith (including any action to continue the attachment, priority,
perfection or enforceability of any Liens in favor of the Administrative Agent,
on behalf of Lenders, in any Collateral). No Loan Party shall change its
locations at which Collateral is held or stored, or the location of its records
concerning the Collateral as set forth in the Collateral Documents, in each
case, unless the Administrative Agent shall have received at least five days, or
thirty days if such new location is located outside the continental U.S. (or in
each of the foregoing cases, such other period of time agreed to by the Borrower
and the Administrative Agent from time to time), prior written notice of such
change and the Administrative Agent shall have acknowledged in writing that
either (1) such change will not adversely affect the validity, perfection or
priority of the Administrative Agent’s security interest in the Collateral, or
(2) any reasonable action requested by the Administrative Agent in connection
therewith has been completed or taken (including any action to continue the
attachment, priority, perfection or enforceability of any Liens in favor of the
Administrative Agent, on behalf of Lenders, in any Collateral). No Loan Party
shall change its Fiscal Year or Fiscal Quarter end.

1.9 Section 6.09 entitled “Amendments to Agreements” is re-designated as
Section 6.09-B.

1.10 Section 6.12(a) is restated as follows:

(a) Leverage Ratio. Permit or suffer the Leverage Ratio to exceed (i) 1.50 to
1.0 at any time on or before December 30, 2011 or (iii) 1.25 to 1.0 at any time
thereafter.

 

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1.11 Reference in Section 6.12(b) to “$80,000,000” is deleted and “$85,000,000”
is substituted in place thereof.

1.12 Section 6.12(c) is restated as follows:

(c) Ratio of Total Liabilities to Tangible Net Worth. Permit or suffer the ratio
of the Consolidated Total Liabilities to the Consolidated Tangible Net Worth to
exceed (i) 2.50 to 1.0 at any time on or before December 30, 2011, (ii) 2.25 to
1.0 at any time on or after December 31, 2011 and on or before March 30, 2012,
or (iii) 2.00 to 1.0 to any time thereafter.

1.13 The following is added to the end of Section 9.02(b) of the Credit
Agreement: “Without limiting the foregoing, Section 2.21 may not be amended or
otherwise modified without the prior written consent of the Administrative
Agent, the Issuing Bank and the Swingline Lender.”

ARTICLE 2.

REPRESENTATIONS

The Borrower represents and warrants to the Administrative Agent and the Lenders
that:

2.1 The execution, delivery and performance of this Amendment are within the
Borrower’s corporate powers and have been duly authorized by all necessary
corporate and, if required, stockholder action. This Amendment has been duly
executed and delivered by the Borrower and constitutes a legal, valid and
binding obligation of the Borrower, enforceable in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in equity
or at law.

2.2 The execution, delivery and performance of this Amendment by the Borrower
(a) do not require any consent or approval of, registration or filing with, or
any other action by, any Governmental Authority, except such as have been
obtained or made and are in full force and effect, (b) will not violate any
applicable law or regulation or the charter, by-laws or other organizational
documents of the Borrower or any of its Subsidiaries or any order of any
Governmental Authority, (c) will not violate or result in a default under any
indenture, agreement or other instrument binding upon the Borrower or any of its
Subsidiaries or its assets, or give rise to a right thereunder to require any
payment to be made by the Borrower or any of its Subsidiaries, and (d) will not
result in the creation or imposition of any Lien on any asset of the Borrower or
any of its Subsidiaries.

2.3 After giving effect to the amendments herein contained, the representations
and warranties contained in Article III of the Credit Agreement and the
representations and warranties contained in the other Loan Documents are true on
and as of the date hereof with the same force and effect as if made on and as of
the date hereof.

2.4 No Default exists or has occurred and is continuing on the date hereof.

 

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ARTICLE 3.

CONDITIONS PRECEDENT

This Amendment shall become effective as of the date hereof when each of the
following conditions is satisfied:

3.1 The Borrower and the Required Lenders shall have signed this Amendment.

3.2 The Guarantors shall have signed the Consent and Agreement hereto.

3.3 The Borrower shall have paid to the Administrative Agent, for the account of
each Lender that has signed this Amendment on or before 5:00 pm EST on the date
hereof, a fee in an amount equal to 50.0 basis points on the sum of such
Lender’s Revolving Commitment plus the outstanding principal balance of such
Lender’s Tranche B Term Loan.

3.4 The Borrower shall have delivered or caused to be delivered to the
Administrative Agent such other documents and satisfied such other conditions as
required by the Administrative Agent.

ARTICLE 4.

MISCELLANEOUS.

4.1 References in the Credit Agreement or in any other Loan Document to the
Credit Agreement shall be deemed to be references to the Credit Agreement as
amended hereby and as further amended from time to time.

4.2 Except as expressly amended hereby, each of the Borrower and each Guarantor
(by Consent and Agreement hereto) acknowledges and agrees that (a) the Credit
Agreement and all other Loan Documents are ratified and confirmed and shall
remain in full force and effect, (b) it has no set off, counterclaim, defense or
other claim or dispute with respect to any Loan Document, and (c) it has no
actual or potential claim or cause of action against the Administrative Agent or
any Lender with respect to any matters through the date hereof, and hereby
waives and agrees not to assert any claims or causes of action against the
Administrative Agent, any Lender or any of their Affiliates, or any of their
respective officers, directors, employees, attorneys and agents, on any theory
of liability, whether known or unknown, matured or contingent, including,
without limitation, for special, indirect, consequential or punitive damages,
arising by virtue of any actions taken, actions omitted, or the occurrence of
any event prior to the date hereof, arising out of or relating to, or in
connection with, this Amendment, the other Loan Documents or any of the
transactions entered into in connection therewith or contemplated thereby.

4.3 This Amendment shall be governed by and construed in accordance with the
laws of the State of Michigan. This Amendment may be signed upon any number of
counterparts with the same effect as if the signatures thereto and hereto were
upon the same instrument, and signatures sent by facsimile or electronic mail
message shall be effective as originals. Terms used but not defined herein shall
have the respective meanings ascribed thereto in the Credit Agreement. This
Amendment is a Loan Document.

 

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IN WITNESS WHEREOF, the parties signing this Amendment have caused this
Amendment to be executed and delivered as of the day and year first above
written.

 

ASSET ACCEPTANCE CAPITAL CORP. By    /s/ MARK A. REDMAN   Name:   Mark A. Redman
  Title:   SVP & Chief Financial Officer

 

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JPMORGAN CHASE BANK, NATIONAL ASSOCIATION individually and as Administrative
Agent, By    /s/ CARLTON M. FAISON   Name:   Carlton M. Faison   Title:   Senior
Vice President

 

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RBS CITIZENS, N.A. (f/k/a Charter One Bank, N.A.) By    /s/ ANDRE A. NAZARETH  
Name:   Andre A. Nazareth   Title:   Senior Vice President

 

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CITIZENS BANK By    /s/ KATHRYN M. RITTER   Name:   Kathryn M. Ritter   Title:  
FVP

 

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COMERICA BANK By    /s/ CHRIS UHL   Name:   Chris Uhl   Title:   AVP

 

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FIFTH THIRD BANK, an Ohio banking corporation, successor by merger with Fifth
Third Bank, a Michigan banking corporation By    /s/ KELLY M. HAMRICK   Name:  
Kelly M. Hamrick   Title:   Vice President

 

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BANK OF AMERICA, N.A., successor to LASALLE BANK MIDWEST N.A. By    /s/ NEIL
HILTON   Name:   Neil Hilton   Title:   SVP

 

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BANK OF SCOTLAND PLC By    /s/ JULIA R. FRANKLIN   Name:   Julia R. Franklin  
Title:   Assistant Vice President

 

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BMO CAPITAL MARKETS FINANCING, INC. By    /s/ CATHERINE GRYEZ   Name:  
Catherine Gryez   Title:   Vice President

 

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NATIONAL CITY BANK By    /s/ STEVEN E. DICKER   Name:   Steven E. Dicker  
Title:   Vice President

 

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ISRAEL DISCOUNT BANK OF NEW YORK By    /s/ JEFFREY S. ACKERMAN   Name:   Jeffrey
S. Ackerman   Title:   Senior Vice President

 

By    /s/ MICHAEL KERNEKLIAN   Name:   Michael Kerneklian   Title:   Vice
President

 

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Term Loan B Lenders: Name: Airlie CLO 2006-I, Ltd. By    /s/ COLIN DONLAN  
Name:   Colin Donlan   Title:   Authorized Signatory

 

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Term Loan B Lenders:

Name: AMMC CLO VI, LIMITED

By: American Money Management Corp., as        Collateral Manager

By    /s/ KENNETH J. BUSHMAN   Name:   Kenneth J. Bushman   Title:   Vice
President

 

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Term Loan B Lenders: Name: Apidos CDO I By its investment adviser Apidos Capital
Management, LLC By    /s/ GRETCHEN BERGSTRESSER   Name:   Gretchen Bergstresser
  Title:   Managing Director

 

Name: Apidos CDO II By its investment adviser Apidos Capital Management, LLC By 
  /s/ GRETCHEN BERGSTRESSER   Name:   Gretchen Bergstresser   Title:   Managing
Director

 

Name: Apidos CDO III By its investment adviser Apidos Capital Management, LLC
By    /s/ GRETCHEN BERGSTRESSER   Name:   Gretchen Bergstresser   Title:  
Managing Director

 

Name: Apidos CDO IV By its investment adviser Apidos Capital Management, LLC By 
  /s/ GRETCHEN BERGSTRESSER   Name:   Gretchen Bergstresser   Title:   Managing
Director

 

Name: Apidos Cinco CDO By its investment adviser Apidos Capital Management, LLC
By    /s/ GRETCHEN BERGSTRESSER   Name:   Gretchen Bergstresser   Title:  
Managing Director

 

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Term Loan B Lenders: Name: Atrium VI         By: Credit Suisse Alternative
Capital Inc.,       as collateral manager By    /s/ THOMAS FLANNERY   Name:
Thomas Flannery   Title:   Authorized Signatory

 

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Term Loan B Lenders: Name: BIG SKY III SENIOR LOAN TRUST BY: EATON VANCE
MANAGEMENT AS INVESTMENT ADVISOR By    /s/ CRAIG P. RUSS   Name: Craig P. Russ  
Title:   Vice President

 

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Term Loan B Lenders:

Name: BlackRock Senior Income Series V Limited

Longhorn CDO III Ltd.

By    /s/ ANNMARIE SMITH   Name: AnnMarie Smith   Title:   Authorized Signatory

 

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Term Loan B Lenders:

Name: CIFC FUNDING 2007-III, Ltd.

CIFC FUNDING 2007-IV, Ltd.

By    /s/ STEVE VACCARO   Name: Steve Vaccaro   Title:   Co-Chief Investment
Officer

 

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Term Loan B Lenders: Name: ColumbusNova CLO Ltd. 2006-I By    /s/ BENJAMIN
PETERSON   Name: Benjamin Peterson   Title:   Associate Director

 

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Term Loan B Lenders: Name: ColumbusNova CLO Ltd. 2006-II By    /s/ BENJAMIN
PETERSON   Name: Benjamin Peterson   Title:   Associate Director

 

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Term Loan B Lenders: Name: ColumbusNova CLO Ltd. 2007-I By    /s/ BENJAMIN
PETERSON   Name: Benjamin Peterson   Title:   Associate Director

 

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Term Loan B Lenders: Name: ColumbusNova CLO IV Ltd. 2007-II By    /s/ BENJAMIN
PETERSON   Name: Benjamin Peterson   Title:   Associate Director

 

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Term Loan B Lenders: Name: EAGLE LOAN TRUST

By: Stanfield Capital Partners, LLC

as its Collateral Manager

By    /s/ CHRISTOPHER E. JANSEN   Name: Christopher E. Jansen   Title:
  Managing Partner

 

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Term Loan B Lenders: Name: Eaton Vance CDO VIII, Ltd.

By: Eaton Vance Management

as Investment Advisor

By    /s/ CRAIG P. RUSS   Name: Craig P. Russ   Title:   Vice President

 

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Term Loan B Lenders: Name: Eaton Vance CDO IX, Ltd.

By: Eaton Vance Management

as Investment Advisor

By    /s/ CRAIG P. RUSS   Name: Craig P. Russ   Title:   Vice President

 

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Term Loan B Lenders: Name: Eaton Vance Loan Opportunities Fund, LTD.

By: Eaton Vance Management

as Investment Advisor

By    /s/ CRAIG P. RUSS   Name: Craig P. Russ   Title:   Vice President

 

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Term Loan B Lenders: Name: EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

By: Eaton Vance Management

as Investor Advisor

By    /s/ CRAIG P. RUSS   Name: Craig P. Russ   Title:   Vice President

_

 

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Term Loan B Lenders: Name: Eaton Vance VT FLOATING-RATE INCOME FUND

By: Eaton Vance Management

as Investor Advisor

By    /s/ CRAIG P. RUSS   Name: Craig P. Russ   Title:   Vice President

 

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Term Loan B Lenders: Name: 1888 FUND, LTD.

By: Guggenheim Investment Management, LLC

as Collateral Manager

By    /s/ KAITLIN TRINH   Name: Kaitlin Trinh   Title:   Director

 

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Term Loan B Lenders: FM LEVERAGED CAPITAL FUND II

By: GSO/BLACKSTONE Debt Funds Management LLC as Subadviser to FriedbergMilstein
LLC

By    /s/ DEAN T. CRIARES   Name: Dean T. Criares   Title:   Authorized
Signatory GALE FORCE 4 CLO, LTD. By: GSO/BLACKSTONE Debt Funds Management LLC as
Collateral Manager By    /s/ DEAN T. CRIARES   Name: Dean T. Criares   Title:
  Authorized Signatory TRIBECA PARK CLO LTD. By: GSO/BLACKSTONE Debt Funds
Management LLC as collateral Manager By    /s/ DEAN T. CRIARES   Name: Dean T.
Criares   Title:   Authorized Signatory

 

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Term Loan B Lenders: GENERAL ELECTRIC CAPITAL CORPORATION By    /s/ JEFFREY
SKINNER   Duly Authorized Signatory

 

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Term Loan B Lenders: Name: GRAYSON & CO BY: BOSTON MANAGEMENT AND RESEARCH AS
INVESTMENT ADVISOR By    /s/ CRAIG P. RUSS   Name: Craig P. Russ   Title:   Vice
President

 

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Term Loan B Lenders: Name: GREEN LANE CLO, LTD.

BY: Guggenheim Investment Management, LLC

as Collateral Manager

By    /s/ KAITLIN TRINH   Name: Kaitlin Trinh   Title:   Director

 

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Term Loan B Lenders: GULF STREAM-SEXTANT CLO 2007-I, LTD.

BY: Gulf Stream Asset Management, LLC

As Collateral Manager

By    /s/ BARRY K. LOVE   Name: Barry K. Love   Title:   Chief Credit Officer

 

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Term Loan B Lenders: KINGSLAND I, LTD.

BY:  Kingsland Capital Management LLC

as Manager

By   /s/ VINCENT SIINO Name:   Vincent Siino Title:   Authorized Officer

 

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Term Loan B Lenders: KINGSLAND III, LTD.

BY:  Kingsland Capital Management LLC

as Manager

By   /s/ VINCENT SIINO Name:   Vincent Siino Title:   Authorized Officer

 

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Term Loan B Lenders: KINGSLAND IV, LTD.

BY:  Kingsland Capital Management LLC

as Manager

By   /s/ VINCENT SIINO Name:   Vincent Siino Title:   Authorized Officer

 

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Term Loan B Lenders: KINGSLAND V, LTD.

BY:  Kingsland Capital Management LLC

as Manager

By   /s/ VINCENT SIINO Name:   Vincent Siino Title:   Authorized Officer

 

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Term Loan B Lenders: Name:  LightPoint CLO III, Ltd. By   /s/ COLIN DONLAN Name:
  Colin Donlan Title:   Authorized Signatory

 

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Term Loan B Lenders: Name:  LightPoint CLO IV, Ltd. By   /s/ COLIN DONLAN Name:
  Colin Donlan Title:   Authorized Signatory

 

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Term Loan B Lenders: Name:  LightPoint CLO V, Ltd. By   /s/ COLIN DONLAN Name:  
Colin Donlan Title:   Authorized Signatory

 

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Term Loan B Lenders: Name:  LightPoint CLO VII, Ltd. By   /s/ COLIN DONLAN Name:
  Colin Donlan Title:   Authorized Signatory

 

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Term Loan B Lenders: Name:  LightPoint CLO VIII, Ltd. By   /s/ COLIN DONLAN
Name:   Colin Donlan Title:   Authorized Signatory

 

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Term Loan B Lenders:

Name:  FEINGOLD O’KEEFFE CAPITAL, LLC

As Collateral Manager for

Lime Street CLO, Ltd.

By   /s/ SCOTT DORSI Name:   Scott Dorsi Title:   Portfolio Manager

 

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Term Loan B Lenders: Name:

BlackRock Senior Income Series V Limited

Longhorn CDO III Ltd.

By   /s/ ANNMARIE SMITH Name:   AnnMarie Smith Title:   Authorized Signatory

 

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Term Loan B Lenders: Name:  Mountain View CLO III, Ltd.

By:  Seix Investment Advisors LLC, as Collateral Manager

By   /s/ GEORGE GOUDELIAS Name:   George Goudelias Title:   Managing Director

 

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Term Loan B Lenders:

Name:  THE NORINCHUKIN BANK, NEW YORK BRANCH,

through State Street Bank and Trust Company N.A. as

Fiduciary Custodian

By:  Eaton Vance Management, Attorney-in-fact By   /s/ CRAIG P. RUSS Name:  
Craig P. Russ Title:   Vice President

 

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Term Loan B Lenders: Name:  

Pioneer Floating Rate Fund

Pioneer Diversified High Income Trust

Pioneer Institutional Solutions – Credit Opportunities

By:  Pioneer Investment Management, Inc.,

Its advisor

By   /s/ MARGARET C. BEGLEY Name:   Margaret C. Begley Title:   Assistant
Secretary and Associate General Counsel Name:   Montpeller Investments Holdings,
Ltd. By:  

Pioneer Investment Management, Inc.,

Its advisor

By   /s/ MARGARET C. BEGLEY Name:   Margaret C. Begley Title:   Assistant
Secretary and Associate General Counsel

 

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Term Loan B Lenders: PPM GRAYHAWK CLO, LTD. By   /s/ DAVID C. WAGNER PPM
America, Inc., as Collateral Manager Name:   David C. Wagner Title:   Managing
Director

 

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Term Loan B Lenders: Name:  PPM Shadow Creek Funding LLC By   /s/ STACY LAI
Name:   Stacy Lai Title:   Assistant Vice President

 

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Term Loan B Lenders: PROSPERO CLO II B.V. By   /s/ WILLIAM LEMBERG Name:  
WILLIAM LEMBERG Title:   SENIOR VICE PRESIDENT

 

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Term Loan B Lenders: SFR, LTD.

By:  Four Corners Capital Management, LLC

As Collateral Manager

/s/ MATT O’MARA Matt O’Mara Vice President

 

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Term Loan B Lenders: Name:  

Shiprock Finance, SPC, acting on behalf of and for the account of SF-3
Segregated Portfolio

By   /s/ MATTHEW GARVIE Name:   Matthew Garvie Title:   Vice President

 

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Term Loan B Lenders: Name:  

Stanfield Arnage CLO Ltd.

By: Stanfield Capital Partners, LLC

as its Collateral Manager

By   /s/ CHRISTOPHER E. JANSEN Name:   Christopher E. Jansen Title:   Managing
Partner

 

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Term Loan B Lenders: Name:   Stanfield AZURE CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Collateral Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield Bristol CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Collateral Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield Carrera CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Asset Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield Daytona CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Collateral Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield McLaren CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Collateral Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield Modena CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Asset Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield Vantage CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Asset Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Stanfield Veyron CLO, Ltd.   By: Stanfield Capital
Partners, LLC   as its Collateral Manager By   /s/ CHRISTOPHER E. JANSEN Name:  
Christopher E. Jansen Title:   Managing Partner

 

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Term Loan B Lenders: Name:   Tralee CDO I, Ltd.   By: Par-Four Investment
Management, LLC   as Collateral Manager By   /s/ EDWARD LABRENZ Name:   Edward
Labrenz Title:   Authorized Signatory

 

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Term Loan B Lenders: Name:   WhiteHorse I, Ltd.   By WhiteHorse Capital
Partners, L.P.     As collateral manager   By WhiteRock Asset Advisor, LLC, its
G.P. By   /s/ ETHAN M. UNDERWOOD Name:   Ethan M. Underwood, CFA Title:  
Portfolio Manager

 

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Term Loan B Lenders: Name:   XL Re Europe Limited   By: Stanfield Capital
Partners, LLC   signed as: its Collateral Manager By   /s/ CHRISTOPHER E. JANSEN
Name:   Christopher E. Jansen Title:   Managing Partner

 

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CONSENT AND AGREEMENT

As of the date and year first above written, each of the undersigned hereby:

(a) fully consents to the terms and provisions of the above Amendment and the
consummation of the transactions contemplated hereby and acknowledges and agrees
to all of the representations, covenants, terms and provisions of the above
Amendment applicable to it;

(b) represents and warrants to the Administrative Agent and the Lenders that
(i) the execution, delivery and performance of this Consent and Agreement are
within its corporate powers and have been duly authorized by all necessary
corporate and, if required, stockholder action, (ii) this Consent and Agreement
has been duly executed and delivered by it and constitutes a legal, valid and
binding obligation of it, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law and
(iii) the execution, delivery and performance of this Consent and Agreement by
it (w) do not require any consent or approval of, registration or filing with,
or any other action by, any Governmental Authority, except such as have been
obtained or made and are in full force and effect, (x) will not violate any
applicable law or regulation or its charter, by-laws or other organizational
documents or any of its Subsidiaries or any order of any Governmental Authority,
(y) will not violate or result in a default under any indenture, agreement or
other instrument binding upon it or any of its Subsidiaries or its assets, or
give rise to a right thereunder to require any payment to be made by it or any
of its Subsidiaries, and (z) will not result in the creation or imposition of
any Lien on any of its assets; and

(c) acknowledges that its consent and agreement hereto is a condition to the
Lenders’ obligation under the above Amendment and it is in its interest and to
its financial benefit to execute this consent and agreement.

 

ASSET ACCEPTANCE, LLC By    /s/ MARK A. REDMAN   Name:   Mark A. Redman   Title:
  Manager

 

CONSUMER CREDIT, LLC By    /s/ MARK A. REDMAN   Name:   Mark A. Redman   Title:
  Manager

 

PREMIUM ASSET RECOVERY CORPORATION By    /s/ MARK A. REDMAN   Name:   Mark A.
Redman   Title:   Assistant Secretary & Treasurer

 

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