Document:

EX-4.3

Exhibit 4.3

Supplemental Agreement

between

The Royal Bank of Scotland plc acting as agent for National Westminster Bank Plc

and

Sytner Group Limited

Our ref: 8950/CD04/DW/A28

1

THIS IS AN IMPORTANT DOCUMENT. YOU SHOULD TAKE INDEPENDENT LEGAL ADVICE BEFORE SIGNING AND
SIGN ONLY IF YOU WANT TO BE LEGALLY BOUND.

THIS SUPPLEMENTAL AGREEMENT is made between:-

(1) The Royal Bank of Scotland plc (“RBS”) acting as agent for National Westminster Bank Plc; and

(2) Sytner Group Limited Company Number 2883766 (the “Borrower”)

to set out the basis on which RBS acting as agent for National Westminster Bank Plc and the
Borrower have agreed to amend the agreement entered into between RBS acting as agent for National
Westminster Bank Plc and the Borrower dated 31 August 2006 (the “Agreement”) setting out the
terms and conditions upon and subject to which National Westminster Bank Plc (the “Bank”) agreed
to make available to the Borrower a loan of £30,000,000 (the “Loan”).

Accordingly:-

	1	 	All words and expressions defined in the Agreement unless the context otherwise requires,
shall have the same meanings in this Supplemental Agreement.	 

	2	 	The terms and conditions of this Supplemental Agreement shall not come into effect unless
the following conditions are satisfied:-	 

	 	(a)	 	the Bank has received and is satisfied with the duplicate of this Supplemental
Agreement signed on behalf of the Borrower; and	 

	 	(b)	 	the Bank has received and is satisfied with a certified copy of the Resolution of
the Board of Directors of the Borrower approving the transaction contemplated by this
Supplemental Agreement and authorising a specified person to sign this Supplemental
Agreement.	 

The Bank and the Borrower have agreed to make the following changes to the Agreement :-

3 Clause 2 of Schedule 1 shall be deleted and replaced with the following:-

	 	(2)	 	The Margin for the Loan will be as set out in Column B below and shall
be determined against the ratio of Consolidated Net Borrowings to Consolidated
EBITDA as set out in Column A below:-	 

	 	 	 	 	 
	Column A	 	Column B
	Greater than or equal to 3:1

	 	 	1.60 	%
	 

	 	 	 	 
	Greater than or equal to 2.5:1

	 	 	1.45	%
	 

	 	 	 	 
	Greater than or equal to 2:1

	 	 	1.30	%
	 

	 	 	 	 
	Greater than or equal to 1.5:1

	 	 	1.20	%
	 

	 	 	 	 
	Greater than or equal to 1:1

	 	 	1.10	%
	 

	 	 	 	 
	Less than 1:1

	 	 	1.00	%
	 

	 	 	 	 

4 Clause 11.1(a) shall be deleted and replaced with the following :-

EBITAR:Interest and Rental Payable

	 	(a)	 	the ratio of Consolidated EBITAR to Consolidated Interest and Rental
Payable shall not be less than 1.4:1 up to and including 31 March 2009 and then not
less than 1.3:1 up to and including 31 December 2009 and then not less than 1.4:1
thereafter.

	5	 	The Borrower shall pay to the Bank within 7 days following the execution of this Supplemental
Agreement a fee of £35,000 in consideration of the changes set out in this Supplemental
Agreement.

	6	 	All other terms and conditions of the Agreement remain unaltered and shall continue in full
force and effect.

	7	 	This Supplemental Agreement and the Agreement shall, as from the date of this Supplemental
Agreement, be read and construed together as constituting the agreement between RBS acting as
agent for the Bank and the Borrower.

2

Signed for and on behalf of RBS acting as agent for the Bank

/s/ Russell Garner-Jones

Date 29.9.08

The Borrower hereby accepts the above terms and conditions

Signed for and on behalf of Borrower in accordance with the authority held by the Bank

/s/ Mark Carpenter

Date 29/9/08

3EX-4.4

Exhibit 4.4

THIS IS AN IMPORTANT LETTER WHICH SETS OUT THE REVISED TERMS AND CONDITIONS OF YOUR GROUP
OVERDRAFT FACILITY. PLEASE NOTE THAT OVERDRAFTS ARE REPAYABLE ON DEMAND. WE RECOMMEND THAT YOU
TAKE INDEPENDENT LEGAL ADVICE IF YOU HAVE ANY DOUBTS REGARDING THE TERMS AND CONDITIONS OF THE
FACILITY.

	 	 	 
	 	 	RBS
	Date: 29 September 2008

	 	The Royal Bank of Scotland

West Midlands Corporate Office

Address: 5th Floor

2 St Philips Place

Birmingham

B3 2RB

Telephone: 0121 262 7425

Private & Confidential

UAG UK Holdings Limited

Company Number 04334322

2 Penman Way

Grove Park

Leicester

Leicestershire

Dear Sirs

Amendment to Group Overdraft Facility

We refer to the letter dated 26 February 2008 between you and The Royal Bank of Scotland plc
(“RBS”) acting as agent for National Westminster Bank plc (“the Bank”) setting out the terms and
conditions on which the Bank agreed to make available to you and the subsidiaries a Group Overdraft
Facility of £20,000,000

We write to confirm that the Bank has agreed that the group overdraft limit will reduce from
£20,000,000 to £7,500,000.

	 	 	Accordingly the definition of Group Overdraft Limit is deleted and replaced as
follows:“Group Overdraft Limit” £7,500,000 plus Seasonal Excess from time
to time	 

	 	 	 	“Seasonal Excess” an additional £10,000,000 to be made available during the Seasonal Excess

Periods

The Bank has also amended the interest rate and accordingly Clause 6.1(b) of the agreement has been
deleted and replaced with :-

	 	 	6.1(b) on that part of the aggregate of the cleared debtor balances on the Facility Accounts in
excess of the aggregate of the cleared creditor balances on the Facility Accounts and the
Creditor Account up to the Group Overdraft Limit, at 1.75% per annum over the Bank’s Base
Rate; and

This letter and the letter dated 26 February 2008 (‘the Facility Letter”) shall as from this date
of this letter be read and construed together as constituting your agreement with the Bank, and for
the avoidance of doubt supersedes the facility letters dated 30 August 2007, 23 April 2008 and 25
June 2008

Please indicate your acceptance of the amended terms and conditions by signing the
acknowledgement on the duplicate of this letter and returning it to the Bank. All other terms and
conditions of the uncommitted multi option facility as set out in the letter will remain unaltered
and binding.

Yours faithfully

For and on behalf of RBS action as agent for the Bank

/s/ Russell Garner-Jones

Russell Garner-Jones

Relationship Director

Having decided that the proposed amendment to the facility is appropriate and in their best
interests the undernoted signatories hereby accept the overdraft facility on the above terms and
conditions.

	 	 	 
	Signed for and on behalf of UAG UK Holdings Limited in accordance with the authority held by the Bank

	Signature/s /s/ Mark Carpenter

	 	Date/s 29/9/08
	 

	 	 
	/s/ Gerard Nieuwenhuys

	 	

	 

	 	 

	 	 	 
	Signed for and on behalf of United Auto Group Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ........................

	 	 	 
	Signed for and on behalf of Sytner Cars Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ..................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .....................

	 	 	 
	Signed for and on behalf of Guy Salmon Jaguar Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ........................

	 	 	 
	Signed for and on behalf of Sytner Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ...............	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ..................

	 	 	 
	Signed for and on behalf of Sytner Holdings Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

1

	 	 	 
	Signed for and on behalf of Yarnolds of Stratford Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .......................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ..........................

	 	 	 
	Signed for and on behalf of Goodman Retail Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ...................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ......................

	 	 	 
	Signed for and on behalf of Kings Motors Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ..................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .....................

	 	 	 
	Signed for and on behalf of R Stratton & Co Ltd. in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ..................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .....................

	 	 	 
	Signed for and on behalf of R Stratton (Knutsford) Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .......................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ..........................

	 	 	 
	Signed for and on behalf of Hallamshire Motor Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ........................

	 	 	 
	Signed for and on behalf of Sytner Group Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ..................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .....................

	 	 	 
	Signed for and on behalf of Cruickshank Motors Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ........................

2

	 	 	 
	Signed for and on behalf of Graypaul Motors Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

	 	 	 
	Signed for and on behalf of Guy Salmon Highgate Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ......................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .........................

	 	 	 
	Signed for and on behalf of Sytner Coventry Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

	 	 	 
	Signed for and on behalf of Ascot Garage Co.Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

	 	 	 
	Signed for and on behalf of F.W. Mays & Co. Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

	 	 	 
	Signed for and on behalf of Sytner Retail Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ...................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ......................

	 	 	 
	Signed for and on behalf of Rycroft Vehicles Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

3

	 	 	 
	Signed for and on behalf of John Fox Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ...................

	 	 	 
	Signed for and on behalf of Maranello Concessionaires Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .........................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ............................

	 	 	 
	Signed for and on behalf of Maranello Sales Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter ....................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys .......................

	 	 	 
	Signed for and on behalf of Mar Parts Limited in accordance with the authority held by the Bank
	Signature/s /s/ Mark Carpenter .................	 	Date/s 29/9/08
	/s/ Gerard Nieuwenhuys ....................

2759786/CDO4/DW/Y3

4

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