f1012g2014a1ex10xxiii_source.htm


Exhibit 10.23


 



	 	
A division of Westpac Banking Corporation 


ABM 33 007 457 141


 


	
Level 2, Westpac Place


275 Kent Street


Sydney, NSW 2000


T; +61 2 8254 8225


F: +61 2 8254 6941


E: imakovec@westpac.com.au


vvww.westpac.com.au







 


13 March 2014


 


Hugh Evans


Moneytech Limited


Level 9, 97 Pacific Highway 


North Sydney NSW 2060


 


Dear Hugh


 


Moneytech DealerCard Program


Extension of Scheduled Commitment Termination Date to 31 December 2014


 


We refer to the Receivables Purchase Agreement dated 5 October 2005 between Moneytech Limited, Moneytech Finance Pty Ltd, Moneytech Services Pty Ltd and Westpac Banking Corporation as amended from time to time (the "RPA"). Unless defined herein, defined terms used in this letter have the same meaning as given to them in the RPA. The parties agree that this letter is a Transaction Document for the purposes of the RPA.


 


On and from the date of this letter, the parties to the RPA agree to:


 




	
(A)

	amend the definition of Scheduled Commitment Termination Date contained in clause 1.1, by deleting the date "28 February 2014" and inserting "31 December 2014";
	  	  	  
	
(B)

	amend the definition of Purchase Limit contained in clause 1.1, by deleting the amount "$30,000,000" and inserting 140,000,000";
	  	  	  
	
(C)

	amend the definition of Cash Reserve Requirement contained in clause 1.1, by deleting (a) in its entirety and inserting:
	  	  	  
	  	
"(a)

	
three times the maximum Concentration Limit applicable at that time; and";


	  	  	  
	
(D)

	amend the definition of Eligible Receivable contained in clause 1.1, by inserting a new point (u) to read as follows:
	  	  	  
	  	
"(u)

	
which is not classified or could be considered as work in progress under therelevant Credit and Collection Policy."


	  	  	  
	
(E)

	amend clause 8.1(gg)(iii) by deleting the percentage "2%" and inserting "5%";
	  	  	  
	
(F)

	delete the Schedule of Moneytech Australian Approved Originators in Annexure J and replacing it with the new Schedule of Moneytech Australian Approved Originators as set out in Schedule 1 of this Letter; and
	  	  	  
	
(G)

	delete the Schedule of Concentration Obligors in Annexure K and replacing it with the new Schedule of Concentration Obligors as set out in Schedule 2 of this Letter.







 




  





Page 1 of 8











  






 


All other terms of the RPA remain unchanged.


 


Each attorney executing this deed states that he or she has no notice of revocation or suspension of his or her power of attorney.


 


This letter may be executed in any number of counterparts, each signed by one or more parties to the letter. All of such counterparts taken together shall be deemed to constitute one document.


 


This letter is governed by and construed in accordance with the laws in force in New South Wales and each party submits to the non-exclusive jurisdiction of the courts of New South Wales.


 


Executed for and on behalf of


 



Signed for Moneytech Limited in the presence of:




 



	/s/ Scnja Sandral	 	
/s/ Christopher Taylor


	Witness Signature	 	Director Signature
	 	 	 
	Scnja Sandral	 	Christopher Taylor
	Print Name	 	Print Name
	 	 	 
	
/s/ Brian Pullar

	 	
/s/ Hugh Evans


	Witness Signature	 	Director/Secretary Signature
	 	 	 
	
Brian Pullar 

	 	
Hugh Evans


	Print Name	 	Print Name





 


Signed for Moneytech Finance Pty Limited in the presence of:



 



	/s/ Scnja Sandral	 	
/s/ Christopher Taylor


	Witness Signature	 	Director Signature
	 	 	 
	Scnja Sandral	 	Christopher Taylor
	Print Name	 	Print Name
	 	 	 
	
/s/ Brian Pullar

	 	
/s/ Hugh Evans


	Witness Signature	 	Director/Secretary Signature
	 	 	 
	
Brian Pullar 

	 	
Hugh Evans


	Print Name	 	Print Name














  





Page 2 of 8











  






 


Signed for Moneytech Services Pty Limited in the presence of:



 



	/s/ Scnja Sandral	 	
/s/ Christopher Taylor


	Witness Signature	 	Director Signature
	 	 	 
	Scnja Sandral	 	Christopher Taylor
	Print Name	 	Print Name
	 	 	 
	
/s/ Brian Pullar

	 	
/s/ Hugh Evans


	Witness Signature	 	Director/Secretary Signature
	 	 	 
	
Brian Pullar 

	 	
Hugh Evans


	Print Name	 	Print Name







 


Westpac Banking Corporation by its attorney under power of attorney in the presence of:


 



	 	 	 
	Witness Signature	 	Tier 1 Attorney Signature
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
	 	 	Tier 1 Attorney Signature
	 	 	 
	 	 	 
	 	 	Print Name





 




  





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Signed for Moneytech Services Pty Limited in the presence of:







 



	 	 	 
	Witness Signature	 	Director Signature
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
	Witness Signature	 	Director/Secretary Signature
	 	 	 
	 	 	 
	Print Name	 	Print Name





 


Westpac Banking Corporation by Its attorney under power of attorney In the presence of:


 



	/s/ Craig Leeming	 	/s/ Ian Makovec
	Witness Signature	 	Tier 1 Attorney Signature
	 	 	 
	Craig Leeming	 	
IAN MAKOVEC


	Print Name	 	TIER ONE ATTORNEY
	 	 	 
	 	 	/s/ Richard Lovell
	 	 	Tier 1 Attorney Signature
	 	 	 
	 	 	Richard Lovell
	 	 	Tier One Attorney





 




  





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Schedule 1


 


Annexure J


 


Schedule of other Moneytech Australian Approved Originators


 



	
Australian Approved Originator

	 	
Concentration


Limit

	 	
Date of Charge in


favour of Westpac

	 	
DSO Maximum


(days)


	
OBCrest AR Pty Ltd ABN 34 149 196 707

	 	
The lesser of the Cash Reserve and A$4,000,000

	 	
2012

	 	
59


	
Progility Invoicing Pty Ltd ABN 11 162 924 414

	 	
The lesser of the Cash Reserve and $4,800,000.

	 	
2013

	 	
59


	
Shelde Pty Limited ACN:147 342 621

	 	
A$2,000,000

	 	
2014

	 	
59







 




  





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Schedule 2


 


Annexure K


 


Schedule of Concentration Obligors


 




	
Concentration Obligor

	 	
Concentration Limit

	 	
Date Approved by Eligible Insurer

	 	
Collection Date of Amount Due


	
Alphawest Services Pty Ltd ABN 49 009 196 347

	 	
A$1,500,000

	 	
7 September 2011

	 	
30 days from End of Month of Invoice


	
ASG Group Limited ABN 57 070 045 117

	 	
A$1,000,000

	 	
7 September 2011

	 	
30 days from End of Month of Invoice


	
AAPT Limited ABN 22 052 082 416

	 	
A$750,000

	 	
18 January 2013

	 	
30 days from End of Month of Invoice


	
Alcatel-Lucent Australia Limited ABN 97 000 005 363

	 	
A$500,000

	 	
11 June 2013

	 	
30 days from End of Month of Invoice


	
Australia and New Zealand Banking Group Limited ABN 11 005 357 522

	 	
$1,000,000

	 	
28 November 2013

	 	
60 Days from Date of Invoice


	
Australian Geographic Retail Pty Ltd ABN:96 126 162 972

	 	
A$500,000

	 	
09 October 2012

	 	
30 days from End of Month of Invoice


	
BHP Billiton Iron Ore Pty Ltd ABN 46 008 700 981

	 	
A$1,000,000

	 	
23 September 2013

	 	
30 days from End of Month of Invoice


	
Bridge Point Communications ABN 29 083 424 668

	 	
A$1,000,000

	 	
18 January 2013

	 	
30 days from End of Month of Invoice


	
BT Australasia Pty Ltd ABN 93 003 050 146

	 	
$1,000,000

	 	
18 October 2013

	 	
30 days from End of Month of Invoice


	
Commonwealth Bank of Australia ABN 61 814 236 264

	 	
$1,000000,

	 	
28 November 2013

	 	
60 days from Invoice


	
Cisco Systems Australia Pty Ltd ABN 52 050 332 940

	 	
A$400,000

	 	
5 July 2011

	 	
30 days from Date of Invoice


	
Citi Pacific Mining Management Pty Ltd ABN 64 119 578 371

	 	
A$500,000

	 	
26 September 2013

	 	
30 days from End of Month of Invoice


	
Coles Group Limited ABN 11 004 089 936

	 	
A$1,000,000

	 	
11 March 2014

	 	
60 days from End of Month of Invoice


	
Commonwealth Bank of Australia ABN 48 123 123 124

	 	
A$750,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
Communications Design and Management Pty Ltd ABN 46 003 855 561

	 	
A$1,000,000

	 	
12 September 2011 30 days from End

	 	
of Month of Invoice


	
Currumbin Surf Factory Outlet Pty LimitedABN 88 054 038 916

	 	
A$250,000

	 	
26 July 2012

	 	
60 days from End of Month of Invoice


	
David Jones Limited ABN: 75 000 074 573

	 	
A$1,000,000

	 	
7 December 2011

	 	
60 days from End of Month of Invoice


	
Dell Australia Pty Ltd ABN 46 003 855 561

	 	
A$1,000,000

	 	
18 February 2011

	 	
30 days from End of Month of Invoice


	
DeaIHQ Online Pty Ltd ACN 139 973 372

	 	
A$500,000

	 	
29 January 2014

	 	
30 days from End of Month of Invoice


	
Department of Broadband Communications ABN 51 491 646 726

	 	
A$500,000

	 	
14 January 2013

	 	
30 days from End of Month of Invoice


	
Dimension Data Australia Pty Ltd ABN 65 003 371 239

	 	
A$1,500,000

	 	
7 September 2011

	 	
30 days from Date of Invoice


	
Distribution Central Pty Limited ABN:70 006 687 056

	 	
A$250,000

	 	
27 June 2012

	 	
30 days from D of Invoice









 




  





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Concentration Obligor

	 	
Concentration Limit

	 	
Date Approved by Eligible Insurer

	 	
Collection Date of Amount Due


	
Dungeon Crawl Pty Ltd ACN 139 823 377

	 	
$500,000

	 	
19 September 2012

	 	
30 days from End of Month of Invoice


	
Fashion Factory Outlets (Trade Secret) Pty Limited ABN 73 000 171 764

	 	
A$300,000

	 	
27 June 2012

	 	
60 days from End of Month of Invoice


	
Flight Centre Technology Pty Ltd ABN 99 010 297 766

	 	
A$600,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
Fortescue Metals Group Limited ABN 57 002 594 872

	 	
A$1,000,000

	 	
18 November 2013

	 	
60 days from End of Month of Invoice


	
Frontline Systems Australia Pty Ltd ABN 61 059 040 998

	 	
A$500,000

	 	
7 September 2011

	 	
30 days from End of Month of Invoice


	
Fujitsu Australia Limited ABN 19 001 011 427

	 	
A$1,000,000

	 	
18 January 2013

	 	
30 days from End of Month of Invoice


	
GE Healthcare Australia Pty Ltd ABN 32 001 408 402

	 	
A$500,000

	 	
12 November 2013

	 	
30 days from End of Month of Invoice


	
General Pants Co Pty Limited ABN 81 071 213 682

	 	
A$1,000,000

	 	
26 July 2012

	 	
60 days from End of Month of Invoice


	
Globalize Pty Ltd ABN 86 075 512 828

	 	
A$250,000

	 	
26 July 2012

	 	
60 days from End of Month of Invoice


	
Grays (NSW) Pty Limited ABN:35 003 688 284

	 	
A$750,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
Healthscope Limited ABN 85 006 405 152

	 	
A$500 000

	 	
23 September 2013

	 	
30 days from End of Month of Invoice


	
Hewlett-Packard Australia Pty Ltd ABN 74 004 394 763

	 	
A$1,500,000

	 	
7 September 2011

	 	
30 days from Date of Invoice


	
IBM Australia Ltd ABN 79 000 024 733

	 	
A$1,000,000

	 	
7 September 2011

	 	
30 days from End of Month of Invoice


	
Infoplex Pty Ltd ABN 39 094 296 107

	 	
A$500,000

	 	
24 April 2012

	 	
30 days from End of Month of Invoice


	
Kmart Australia Limited ABN 73 004 700 485

	 	
A$750,000

	 	
7 June 2013

	 	
30 days from End of Month of Invoice


	
Laing O'Rourke Australia Construction Pty Ltd ABN 39 112 099 000

	 	
A$500,000

	 	
23 September 2013

	 	
30 days from End of Month of Invoice


	
Leighton Holdings Limited ABN 57 004 482 982

	 	
A$1,000,000

	 	
6 November 2013

	 	
30 days from End of Month of Invoice


	
Lexmark International Australia Pty Ltd ABN 86 050 148 466

	 	
A$1,500,000

	 	
5 July 2011

	 	
30 days from Date of Invoice


	
Lenovo (Australia & New Zealand) Pty Ltd ABN 70 112 394 411

	 	
A$1,000,000

	 	
23 September 2012

	 	
30 days from End of Month of Invoice


	
Macquarie Group Limited ABN 94 122 169 279 including: Macquarie Equipment Finance Pty Ltd ABN 93 124 335 593 Macquarie Group Services Pty Ltd ABN 53 116 467 031

	 	
A$1,750,000.00

	 	
5 September 2011

	 	
30 days from End of Month of Invoice


	
Macquarie Telecom Pty Limited ABN 21 082 930 916

	 	
A$1,000,000

	 	
22 January 2013

	 	
30 days from End of Month of Invoice


	
Metcash Limited ABN 32 112 073 480

	 	
A$500,000

	 	
23 September 2013

	 	
30 days from End of Month of Invoice


	
Myer Pty Limited ABN 83 004 143 239

	 	
A$1,000,000

	 	
7 December 2011

	 	
60 days from End of Month of Invoice


	
MTC Group ABN 74 118 612 874

	 	
A$500,000

	 	
7 September 2011

	 	
30 days from Enii of Month of Invoice







 




  





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Concentration Obligor

	 	
Concentration Limit

	 	
Date Approved by Eligible Insurer

	 	
Collection Date of Amount Due


	
NEC Australia Pty Ltd ABN 86 001 217 527

	 	
A$1,000,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
Netsolutions Australia Pty Limited ABN 83 094 265 951

	 	
A$500,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
Next Athleisure Pty Limited ABN 47 083 404 424

	 	
A$500,000

	 	
8 December 2011

	 	
60 days from End of Month of Invoice


	
Newcrest Mining Limited ABN 20 005 683 625

	 	
A$500,000

	 	
11 September 2013

	 	
30 days from End of Month of Invoice


	
02 Networks Pty Ltd ABN 55 100 551 317

	 	
A$300,000

	 	
12 September 2011

	 	
30 days from End of Month of Invoice


	
Panasonic Australia Pty Ltd ABN 83 001 592 187

	 	
A$500,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
Roads and Maritime Services ABN 76 236 371 088

	 	
A$1000,000

	 	
12 August 2013

	 	
30 days from End of Month of Invoice


	
Planit Test Management Solutions Pty Limited ABN 61 079 209 135

	 	
A$500,000

	 	
21 January 2013

	 	
30 days from End of Month of Invoice


	
Rheem Australia Pty Ltd ABN 21 098 823 511

	 	
A$1,000,000

	 	
30 January 2011

	 	
21 days from Date of Invoice


	
Reserve Bank of Australia ABN 50 008 559 486

	 	
A$1,000,000

	 	
11 March 2014

	 	
60 days from Date of Invoice


	
Rio Tinto Limited ABN 96 004 458 404

	 	
A$500,000

	 	
4 November 2013

	 	
30 days from End of Month of invoice


	
Rogues Jeanery Pty Limited ABN 61 006 349 613

	 	
A$300,000

	 	
27 June 2012

	 	
60 days from End of Month of Invoice


	
Sanyo (Oceania) Pty Ltd ABN:38 004 981 873

	 	
A$500,000

	 	
27 June 2012

	 	
30 days from Date of Invoice


	
SGS Australia Pty Ltd ABN 44 000 964 278

	 	
A$500,000

	 	
11 November 2013

	 	
30 days from End of Month of Invoice


	
Sunshades Eyeware Pty Limited ABN 70102 239 430

	 	
A$750,000

	 	
16 July 2012

	 	
30 days from Date of Invoice


	
Teac Australia Pty Ltd ABN 11 113 998 048

	 	
A$500,000

	 	
22 June 2011

	 	
30 days from End of Month of Invoice


	
Telstra Corporation Limited ABN 33 051 775 556

	 	
A$1,500,000

	 	
14 March 2011

	 	
30 days from End of Month of Invoice


	
Universal Store Pty Limited ABN 89 085 003 158

	 	
A$250,000

	 	
26 July 2012

	 	
60 days from End of Month of Invoice


	
University of Western Sydney ABN 53 014 069 881

	 	
A$1,000,000

	 	
4 January 2011

	 	
30 days from End of Month of Invoice


	
UXC Limited ABN 65 067 682 928

	 	
A$1,000,000

	 	
12 September 2011

	 	
30 days from End of Month of Invoice


	
Verizon Australia Pty Limited ABN 62 081 001 194

	 	
$750,000

	 	
18 January 2013

	 	
30 days from End of Month of Invoice


	
Virgin Australia Airlines Pty Ltd ABN 36 090 670 965

	 	
A$500,000

	 	
23 September 2013

	 	
30 days from End of Month of Invoice


	
Vodafone Hutchison Australia Pty Limited ABN 76 096 304 620

	 	
A$1,000,000

	 	
18 January 2013

	 	
30 days from End of Month of Invoice


	
Westpac Banking Corporation ABN 33 007 457 141

	 	
A$1,000000

	 	  	 	
60 days from Date of Invoice


	
Woolworths Limited ABN 88 000 014 675

	 	
A$1,000,000

	 	
8 November 2011

	 	
60 days from End of Month of Invoice







 


 

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