Document:

Exhibit 10.1

RESOLUTIONS ADOPTED BY

MAJORITY WRITTEN CONSENT

OF THE BOARD OF DIRECTORS OF

LAS VEGAS XPRESS, INC.

a Nevada corporation

 

The undersigned being a majority action taken by the Directors of Las Vegas Xpress, Inc. (the "Corporation"), hereby consent to take the following action and adopt the following recitals and resolutions effective as of December 3, 2018.

DEPARTING OF THE DIRECTOR OF THE BOARD

WHEREAS, it is in the best interest of the Corporation and its stockholders that the following actions herewith be approved, and;

WHEREAS, it is recognized that Don Adams has been removed from the Board of Directors of Las Vegas Xpress, Inc., effective December 3, 2018, and;

WHEREAS, it is in the best interest of the Corporation to approve the removal of Don Adams as a Director of the Board, and;

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of Las Vegas Xpress, Inc. shall approve the removal of Don Adams as its Director effective December 3, 2018, and;

RESOLVED FURTHER, that Directors of this Corporation are hereby authorized to join in the execution of, or attest and/or affix the corporate seal of the Corporation to, any document, agreement or instrument executed by the CEO or other authorized officer of this Corporation on behalf of the Corporation in furtherance of the foregoing resolutions; and

RESOLVED FURTHER, that the officers of this Corporation are and each hereby is authorized to do and perform all such further actions and things and to sign all such further documents, certificates and other writings and to take all such further actions as may be necessary or advisable or convenient or proper to carry out the intent of the foregoing.

RESOLVED FURTHER, that the authority given hereunder shall be deemed retroactive and any and all acts authorized hereunder performed prior to the passage of these resolutions are hereby ratified and affirmed.

 

This Majority Written Consent may be executed in one or more counterparts, each of which shall be an original and all of which together shall be one and the same instrument. This Majority Written Consent shall be filed in the Minute Book of the Corporation and become a part of the records of this Corporation.

 

	 	 

/s/ Michael Barron

		Michael A. Barron - Director
	 	 
	 	 

/s/ Louis Schillinger

	 	
Louis Schillinger - Director

	 	 
	 	 

/s/ John McPherson

	 	
John D. McPherson - DirectorExhibit 4.3

 

 

AMENDMENT NO. 2 TO

SECOND AMENDED AND RESTATED

LOAN AND SECURITY AGREEMENT

This AMENDMENT NO. 2 TO SECOND AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT (“Amendment”) is dated as of December 3, 2018 and is entered into by
and among AMERICA’S CAR-MART, INC., a Texas corporation (“Parent”), COLONIAL AUTO FINANCE, INC.,
an Arkansas corporation (“Colonial”), AMERICA’S CAR MART, INC., an Arkansas corporation (“ACM”),
TEXAS CAR-MART, INC., a Texas corporation (“TCM”)(each of Colonial, ACM and TCM, a “Borrower”,
and collectively, “Borrowers”), the financial institutions party to the Loan Agreement (as hereinafter defined)
as lenders (collectively, “Lenders”), BANK OF AMERICA, N.A., as agent for the Lenders (in such capacity,
“Agent”), lead arranger and book manager for the Lenders. All capitalized terms used herein but not otherwise
defined shall have the meanings ascribed to them in the Loan Agreement (as hereinafter defined).

 

WITNESSETH

 

WHEREAS, Parent, Borrowers, Lenders and Agent
have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of December 12, 2016 (as amended,
amended and restated, modified, supplemented or renewed prior to the date hereof, the “Loan Agreement”);

 

WHEREAS, Parent, Borrowers, Lenders and Agent
have agreed to amend the Loan Agreement subject to the terms and conditions stated herein; and

 

NOW, THEREFORE, in consideration of the premises
herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Lenders,
Agent, Parent and Borrowers hereby agree as follows:

 

I.                   
Amendment to the Loan Agreement.

 

A.               
The following definitions are hereby added to Section 1.1 of the Loan Agreement in alphabetical order as follows:

 

Beneficial Ownership Certification:
a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

Beneficial Ownership Regulation:
means 31 C.F.R. § 1010.230.

 

Amendment No. 2 Effectiveness
Date: December 3, 2018.

 

 

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B.                
The following definitions as set forth in Section 1.1 of the Loan Agreement are hereby amended and restated in their entirety
to read as follows:

 

ACM-TCM Revolver Termination Date:
December 3, 2021.

 

Applicable Margin: with respect
to any Type of Revolver Loan, the margin set forth below, as determined by the Leverage Ratio for the last Fiscal Quarter:

 

	Level	Leverage Ratio	Base Rate Revolver Loans	LIBOR Revolver Loans
	I	< 0.75:1.00	0%	2.25%
	II	> 0.75:1.00 and < 1.50:1.00	0%	2.35%
	III	> 1.50:1.00 and < 1.75:1.00	0.25%	2.75%
	IV	> 1.75:1.00	0.50%	3.00%

Until May 31, 2019, margins shall be determined as if Level I were applicable. Thereafter, the margins shall be subject to increase
or decrease upon receipt by Agent pursuant to Section 10.1.2 of the financial statements and corresponding Compliance Certificate
for the last Fiscal Quarter, which change shall be effective on the first day of the calendar month following receipt. If, by the
first day of a month, any financial statements and Compliance Certificate due in the preceding month have not been received, then
the margins shall be determined as if Level IV were applicable, from such day until the first day of the calendar month following
actual receipt.

 

Colonial Revolver Termination Date:
December 3, 2021.

 

C.                
Section 10.1.15 is hereby added to the Loan Agreement as follows:

 

10.1.15       Beneficial
Ownership, etc. Promptly following any request therefor, provide information and documentation reasonably requested by the
Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules
and regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation.

 

D.               
Schedule 1.1 to the Loan Agreement is hereby deleted and replaced with Schedule 1.1 attached hereto.

 

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II.              
Conditions. The effectiveness of this Amendment is subject to the satisfaction of the following conditions
precedent:

 

A.               
Amendment. Fully executed copies of this Amendment signed by Parent, Borrowers and Lenders shall have been delivered
to Agent.

 

B.                
Beneficial Ownership. The information included in the Beneficial Ownership Certification, if applicable, is true
and correct in all respects.

 

C.                
Notes. To the extent requested by any Lender in connection with this Amendment, Borrowers shall have executed and
delivered promissory notes to such Lender.

 

D.               
Other Documents. Borrowers shall have executed and delivered to Agent such other documents and instruments as Agent
may reasonably require.

 

III.             
Miscellaneous.

 

A.               
Survival of Representations and Warranties. All representations and warranties made in the Loan Agreement or any
other document or documents relating thereto, including, without limitation, any Loan Document furnished in connection with this
Amendment, shall survive the execution and delivery of this Amendment and the other Loan Documents, and no investigation by Agent
or the Lenders shall affect the representations and warranties or the right of Agent or the Lenders to rely thereon.

 

B.                
Reference to Loan Agreement. The Loan Agreement, each of the Loan Documents, and any and all other agreements, documents
or instruments now or hereafter executed and delivered pursuant to the terms hereof, or pursuant to the terms of the Loan Agreement
as amended hereby, are hereby amended so that any reference therein to the Loan Agreement shall mean a reference to the Loan Agreement
as amended hereby.

 

C.                
Loan Agreement Remains in Effect. The Loan Agreement and the Loan Documents, as amended hereby, remain in full force
and effect and Parent and each Borrower ratifies and confirms its agreements and covenants contained therein. Parent and each Borrower
hereby confirms that to the best of its knowledge no Event of Default or Default exists.

 

D.               
Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held
to be invalid or unenforceable.

 

E.                
Counterparts. This Amendment may be executed in one or more counterparts, each of which when so executed shall be
deemed to be an original, but all of which when taken together shall constitute one and the same instrument.

 

F.                 
Headings. The headings, captions and arrangements used in this Amendment are for convenience only and shall not affect
the interpretation of this Amendment.

 

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G.               
NO ORAL AGREEMENTS. THIS AMENDMENT, TOGETHER WITH THE OTHER LOAN DOCUMENTS AS WRITTEN, REPRESENTS THE FINAL AGREEMENT
BETWEEN LENDERS, AGENT AND BORROWERS AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN AGENT, LENDERS AND BORROWERS.

 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

 

 

 

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IN WITNESS WHEREOF, the parties have executed
this Amendment under seal on the date first written above.

 

	BORROWERS:

                                                                                 

	COLONIAL AUTO FINANCE, INC.,

an Arkansas corporation
	By: 	/s/ Vickie D. Judy
	Name: 	Vickie D. Judy
	Title: 	Secretary
	 
	 
	AMERICA’S CAR MART, INC.,

an Arkansas corporation
	By: 	/s/ Vickie D. Judy
	Name: 	Vickie D. Judy
	Title: 	Vice President & Secretary
	 
	 
	TEXAS CAR-MART, INC.,

a Texas corporation
	By: 	/s/ Vickie D. Judy
	Name: 	Vickie D. Judy
	Title: 	Vice President & Secretary
	 
	 
	 	 	 

 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

    5

     

    

 

	PARENT:

                                                                                 

	AMERICA’S CAR-MART, INC.,
 a Texas corporation
	By:	/s/ Vickie D. Judy
	Name:	Vickie D. Judy
	Title:	Chief Financial Officer & Secretary
	 	 	 	 

 

 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

    6

     

    

 

 

	AGENT AND LENDERS:

                                                                                 

	BANK OF AMERICA, N.A.

as Agent and Lender

 

	By:	/s/ Carlos Gil
	Name:	Carlos Gil
	Title:	Senior Vice President
	 	 	 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

    7

     

    

 

	BOKF, NA D/B/A BANK OF ARKANSAS,
 as Lender

                                                                                 

	By:	/s/ Jacob Hudson
	Name:	Jacob Hudson
	Title:	Senior Vice President
	 	 	 	 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

    8

     

    

 

	FIRST TENNESSEE BANK, NATIONAL ASSOCIATION, 

as Lender

	By:	/s/ Blake Chandler
	Name:	Blake Chandler
	Title:	Vice President
	 	 	 

 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

    9

     

    

 

	ARVEST BANK, 

as Lender

	By:	/s/ Robert E. Bresnahan
	Name:	Robert E. Bresnahan
	Title:	AVP
	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

    10

     

    

 

	COMMERCE BANK,

as Lender

	By:	/s/ Adam Hensley
	Name:	Adam Hensley
	Title:	Vice President
	 	 	 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Amendment
No. 2 to Second Amended and Restated Loan and Security Agreement

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SCHEDULE 1.1

 

To

 

Second Amended and Restated Loan and Security Agreement

 

	
        Lender

        
	Colonial Revolver Commitment	ACM-TCM Revolver Commitment	Total Revolver Commitment
	Bank of America, N.A.	$91,200,000	$4,800,000	$96,000,000
	BOKF,NA d/b/a Bank of Arkansas	$41,800,000	$2,200,000	$44,000,000
	First Tennessee Bank	$28,750,000	$1,250,000	$30,000,000
	Arvest Bank	$24,050,000	$950,000	$25,000,000
	Commerce Bank	$19,200,000	$800,000	$20,000,000
	 	Total: $205,000,000	Total: $10,000,000	Total: $215,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule 1.1

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