EX-10.35



 Exhibit 10.35 

AMENDMENT TO 

RECEIVABLES SALE AGREEMENT 

This AMENDMENT TO RECEIVABLES SALE AGREEMENT dated as of September 28, 2012 (this “Amendment”), is entered
into among SIRVA RELOCATION CREDIT, LLC, as Seller, SIRVA RELOCATION LLC (“SIRVA Relo”) and SIRVA GLOBAL RELOCATION, INC. (“SIRVA Global”), as Servicers and Originators, and WELLS FARGO
BANK, NATIONAL ASSOCIATION, ACTING THROUGH ITS WELLS FARGO BUSINESS CREDIT DIVISION, as Agent (in such capacity, the “Agent”) and as the sole Purchaser. 

RECITALS 
  

	 	A.	The Seller, the Servicers, the Purchasers and the Agent are parties to that certain Receivables Sale Agreement, dated as of September 30, 2008, as amended as of January 30, 2009, May 31,
2009, December 23, 2009 and March 17, 2011 (the “Receivables Sale Agreement”). 

  

	 	B.	Executive Relocation Corporation was originally a party to the Receivables Sale Agreement as a Servicer and Originator but was subsequently merged with and into NAVL LLC, effective as of December 30, 2009, with
NAVL LLC as the surviving entity, and NAVL LLC was thereafter merged with and into SIRVA Relo, effective as of December 31, 2009, with SIRVA Relo, as the surviving entity. 


 

	 	C.	The parties wish to amend the Receivables Sale Agreement as hereinafter set forth. 

 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

	 	1.	Certain Defined Terms. Capitalized terms which are used herein without definition and that are defined in the Receivables Sale Agreement shall have the same meanings herein as in the Receivables Sale Agreement,
as amended by this Amendment. 

  

	 	2.	Amendments to Receivables Sale Agreement. 

  

	 	(a)	Section 1.12 of the Receivables Sale Agreement is hereby deleted in its entirety. 

  

	 	(b)	Clause (ii) of the last sentence of Sections 5.1(e), 5.2(e) and 5.3(e) of the Receivables Sale Agreement is hereby amended and restated as follows: 


“(ii) thereafter, so long as no Termination Event exists, the Agent shall have two sets of audit and test verifications done in any
calendar year, and upon the request of the Agent, up two two additional sets of audit and test verifications done in any calendar year.” 
  

	 	(c)	The definition of “Scheduled Termination Date” as set forth in Schedule I to the Receivables Sale Agreement is hereby amended and restated in its entirety as  


 

	 	  	“Scheduled Termination Date” means December 31, 2012.” 









	 	(d)	Schedule II to the Receivables Sale Agreement is hereby amended by deleting the “$120,000,000” set forth therein with respect to Wells Fargo Bank, N.A.’s Purchase Limit and substituting $100,000,000
therefor. 

  

	 	3.	Representations and Warranties. With respect to the Sale Agreement, the Seller and each Servicer, and with respect to the Purchase Agreement, the Originators hereby represent and warrant to the Agent and the
Purchasers as follows: 

  

	 	(i)	Representations and Warranties. The representations and warranties contained in Article IV of the Receivables Sale Agreement and Section 4 of the Purchase Agreement are true and correct as of the date hereof
(except to the extent such representations and warranties relate solely to an earlier date, in which case they are true and correct as of such earlier date). 

  

	 	(ii)	Enforceability. The execution and delivery by the Seller and each Servicer of this Amendment, and the performance by the Seller and each Servicer of this Amendment and the Receivables Sale Agreement, as amended
hereby (the “Amended Agreement”), are within the corporate powers of the Seller and each Servicer and have been duly authorized by all necessary corporate or company action on the part of the Seller and each Servicer. This
Amendment and the Amended Agreement are valid and legally binding obligations of the Seller and each Servicer, enforceable in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. 

  

	 	(iii)	No Potential Termination Event. No Potential Termination Event that will not be cured by this Amendment becoming effective has occurred and is continuing. 


 

	 	4.	Acknowledgment by Originators. Each of SIRVA Relo and SIRVA Global, in its capacity as an Originator, acknowledges and agrees to the terms of this Amendment, including without limitation Section 2 hereof.


  

	 	5.	Effect of Amendment. Except as expressly amended and modified by this Amendment, all provisions of the Receivables Sale Agreement shall remain in full force and effect; and the Seller and the Servicers confirm
and reaffirm their obligations under the Amended Agreement and the other Transaction Documents. After this Amendment becomes effective, all references in the Receivables Sale Agreement (or in any other Transaction Document) to “this
Agreement”, “hereof”, “herein” or otherwise referring to the Receivables Sale Agreement shall be deemed to be references to the Amended Agreement. This Amendment shall not be deemed to expressly or impliedly waive, amend or
supplement any provision of the Receivables Sale Agreement other than as set forth herein. 









	 	6.	Effectiveness. This Amendment shall become effective as of September 28, 2012 (the “Amendment Effective Date”), provided that the Agent shall have received no later than
October 5, 2012 (a) counterparts of this Amendment (whether by facsimile, email transmission or otherwise) executed by the Seller, the Servicers, the Originators, the Agent and the Purchasers and consented to by Parent and
(b) evidence satisfactory to the Agent of authorization to file amendments to the UCC financing statements filed with respect to each Originator under that certain Credit Agreement, dated as of March 17, 2011, by and among Parent, SIRVA,
Inc., the several lenders party thereto and Barclays Bank PLC, as administrative agent and collateral agent and that certain Credit Agreement, dated as of March 17, 2011, by and among Parent, SIRVA, Inc., North American Van Lines, Inc., Allied
Van Lines, Inc., SIRVA Relocation LLC, the several lenders party thereto and Wells Fargo Capital Finance, LLC, as agent and sole bookrunner, that, in each case, amend the definition of Receivables Sale Agreement set forth in such UCC financing
statements to include this Amendment. 

  

	 	7.	Headings; Counterparts. Section Headings in this Amendment are for reference only and shall not affect the construction of this Amendment. This Amendment may be executed by different parties on any number of
counterparts, each of which shall constitute an original and all of which, taken together, shall constitute one and the same agreement. 

  

	 	8.	Cumulative Rights and Severability. All rights and remedies of the Purchasers and Agent hereunder shall be cumulative and non-exclusive of any rights or remedies such Persons have under law or otherwise. Any
provision hereof that is prohibited or unenforceable in any jurisdiction shall, in such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and without affecting
such provision in any other jurisdiction. 

  

	 	(i)	Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws (and not the law of conflicts) of the State of Illinois. 


[signature pages begin on next page] 







 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

  

			
	SIRVA RELOCATION CREDIT, LLC, as Seller
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	President

  

			
	SIRVA RELOCATION LLC, as a Servicer
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

			
	SIRVA GLOBAL RELOCATION, INC., as a Servicer
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer


  

					
		 	S-1	 	            Consent and Amendment









 The undersigned (i) consent and agree to the foregoing Amendment, (ii) confirm that references in the
Purchase Agreement to the Receivables Sale Agreement shall be references to such agreement as amended by the Amendment, and (iii) confirm that the Purchase Agreement is in full force and effect. 

 

			
	SIRVA RELOCATION LLC, as an Originator
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

			
	SIRVA GLOBAL RELOCATION, INC., as an Originator
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer


  

					
		 	S-2	 	            Consent and Amendment









 
			
	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, ACTING THROUGH ITS

WELLS FARGO BUSINESS CREDIT DIVISION, as Agent and sole Purchaser

		
	By:	 	/s/ Jennifer Daily
	Title:	 	 Vice President




  

					
		 	S-3	 	            Consent and Amendment









 ACKNOWLEDGEMENT AND CONSENT 

Reference is made to the Guaranty dated as of September 30, 2008, executed by the undersigned in favor of SIRVA Relocation Credit, LLC (the
“Guaranty”). The undersigned (i) consents and agrees to the foregoing Amendment, (ii) confirms that references in the Guaranty to the Receivables Sale Agreement shall be references to such agreement as
amended by the Amendment, and (iii) confirms that the Guaranty is in full force and effect. 
 IN WITNESS WHEREOF, the undersigned have executed this
Acknowledgement and Consent as of the date first above written. 
  

			
	SIRVA WORLDWIDE, INC.
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	SVP - Treasurer