Document:

Exhibit 10.18

 

EXECUTION VERSION

 

WAIVER AND CONSENT

 

WAIVER AND CONSENT under the Supplements referred to below, dated as of May 16, 2014 (this “Consent”), among THE HERTZ CORPORATION, a Delaware corporation (“Hertz”), HERTZ VEHICLE FINANCING II LP, a special purpose Delaware limited partnership (“HVF II”), HERTZ VEHICLE FINANCING LLC, a special purpose Delaware limited liability company (“HVF”), RENTAL CAR FINANCE CORP., a special purpose Oklahoma corporation (“RCFC”), DTG OPERATIONS, INC., an Oklahoma corporation (“DTG Operations”), each party identified on the signature pages attached hereto as a Conduit Investor, each party identified on the signature pages attached hereto as a Committed Note Purchaser and each party identified on the signature pages attached hereto as a Funding Agent (such Conduit Investors, Committed Note Purchasers and Funding Agents, collectively, the “Lenders”).

 

RECITALS

 

WHEREAS, HVF II is party to that certain Series 2013-A Supplement, dated as of November 25, 2013 (the “Series 2013-A Supplement”), by and among HVF II, The Bank of New York Mellon Trust Company, N.A., Hertz, as Group I Administrator, Deutsche Bank AG, New York Branch, as Administrative Agent, and those certain conduit investors, committed note purchasers and funding agents from time to time party thereto;

 

WHEREAS, HVF II is party to that certain Series 2013-B Supplement, dated as of November 25, 2013 (the “Series 2013-B Supplement”, and together with the Series 2013-A Supplement, the “Supplements”), by and among HVF II, The Bank of New York Mellon Trust Company, N.A., Hertz, as Group II Administrator, Deutsche Bank AG, New York Branch, as Administrative Agent, and those certain conduit investors, committed note purchasers and funding agents from time to time party thereto;

 

WHEREAS, each of Hertz, HVF II, HVF and RCFC has requested that the Lenders consent to extend the date for delivery of the March 2014 Quarterly Financial Statements (as defined below) and certain other information required pursuant to the Series 2013-A Related Documents and the Series 2013-B Related Documents;

 

WHEREAS, each of Hertz, HVF II, HVF and RCFC has requested that the Lenders waive any Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Potential Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) or Potential Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) that may arise, directly or indirectly, from or in connection with the failure to deliver the March 2014 Quarterly Financial Statements (and any certificates and other information required to be delivered concurrently therewith) on or prior to the Extended Delivery Date (as defined below) to the Lenders;

 

WHEREAS, in connection with the Series 2013-A Related Documents and the Series 2013-B Related Documents, Hertz delivered annual and quarterly financial statements of Hertz

 

 

and its consolidated Subsidiaries from time to time on or prior to the date hereof (collectively, the “Previous THC Financial Statements”);

 

WHEREAS, as part of the process of completing the March 2014 Quarterly Financial Statements, Hertz is reviewing the Previous THC Financial Statements;

 

WHEREAS, Hertz does not currently know what action, if any, will be required to be taken as a result of such review, which has not yet been completed; however, it is possible that Hertz may restate one or more of the Previous THC Financial Statements (such a restatement, if it were to occur, the “Restatement”);

 

WHEREAS, each of Hertz, HVF II, HVF and RCFC has requested that the Lenders waive any Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Potential Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) or Potential Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) that may arise, directly or indirectly, as a result of or in connection with the Restatement, if any, or any action taken or any failure to take action while any such Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default was continuing to the extent such action or failure to take action would have been permitted but for the existence of such Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default;

 

NOW, THEREFORE, in consideration of the covenants and agreements contained herein, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Section 1.                                           Defined Terms.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Supplements.

 

Section 2.                                           Waiver and Consent.

 

(a)                                 The Lenders hereby agree that, notwithstanding any provision of any Series 2013-A Related Document or any Series 2013-B Related Document, the quarterly financial statements required to be delivered under such documents for Hertz’s fiscal quarter ended March 31, 2014 (the “March 2014 Quarterly Financial Statements”) and the certificates and other information required pursuant to the Series 2013-A Related Documents and/or the Series 2013-B Related Documents to be delivered concurrently therewith need not be delivered on or prior to June 15, 2014 (such date, the “Extended Delivery Date”).

 

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(b)                                 So long as the March 2014 Quarterly Financial Statements and the certificates and other information required to be delivered in connection therewith to the Lenders under the Group I HVF Lease and the Group II RCFC Lease are delivered on or prior to the Extended Delivery Date, the Lenders hereby waive any existing or future Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Potential Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) or Potential Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) that may arise, directly or indirectly, as a result of or in connection with the failure to deliver any of the March 2014 Quarterly Financial Statements, such certificates or such other information.

 

(c)                                  The Lenders hereby waive, from the Consent Effective Date until the Extended Delivery Date, any Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Potential Amortization Event (with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes), Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) or Potential Operating Lease Event of Default (as defined in each of the Group I HVF Lease and the Group II RCFC Lease) that may arise, directly or indirectly, as a result of or in connection with the Restatement, if any, or any action taken or any failure to take action while any such Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default was continuing to the extent such action or failure to take action would have been permitted but for the existence of such Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default.  Notwithstanding the foregoing, the waiver in this Section 2(c) is a limited waiver for the period ending on the Extended Delivery Date, and for the avoidance of doubt, after the Extended Delivery Date, unless otherwise waived, no such Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default that arises, directly or indirectly, from the Restatement shall be deemed waived pursuant to this Section 2(c).

 

(d)         For the avoidance of doubt, from the Consent Effective Date until the Extended Delivery Date (i) each Lender shall continue to honor notices for Advances delivered in compliance with the Supplements notwithstanding the occurrence or continuation of the events described in this Section 2 and (ii) neither Hertz nor HVF II shall be required to deliver any notice pursuant to any Series 2013-A Related Document or any Series 2013-B Related Document in connection with the occurrence or continuation of the events described in this Section 2.

 

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Section 3.                                           Conditions to Effectiveness of Consent.  This Consent shall become effective on the date (such date, if any, the “Consent Effective Date”) the Administrative Agent shall have received this Consent executed and delivered by the parties hereto.  The Administrative Agent shall give prompt notice in writing to Hertz of the occurrence of the Consent Effective Date.  For the avoidance of doubt, the Lenders hereby expressly waive any requirement that any “Rating Agency Condition” (as defined in any Series 2013-A Related Document or any Series 2013-B Related Document) be satisfied in connection with this Consent.

 

Section 4.                                           Effects on Related Documents; Acknowledgement.

 

(a)                                 Except as expressly set forth herein, this Consent (i) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, the Collateral Agent or the Trustee under any Series 2013-A Related Document or any Series 2013-B Related Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Supplements or in any other provision of any Series 2013-A Related Document or any Series 2013-B Related Document.  Each and every term, condition, obligation, covenant and agreement contained in the Supplements or any other Series 2013-A Related Document or any other Series 2013-B Related Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect as modified hereby and nothing herein can or may be construed as a novation thereof.  Each of Hertz, DTG Operations, HVF II, HVF and RCFC reaffirms on the Consent Effective Date its obligations under the Series 2013-A Related Documents and the Series 2013-B Related Documents, in each case, to which it is a party and the validity, enforceability and perfection of the Liens, if any, granted by it pursuant to the Series 2013-A Related Documents and the Series 2013-B Related Documents, in each case, to which it is a party.  All references to any Series 2013-A Related Document or to any Series 2013-B Related in any Series 2013-A Related Document or in any Series 2013-B Related Document and all references in any such document to “hereunder”, “hereof” or words of like import referring to any such document, shall, unless expressly provided otherwise, refer to such document after giving effect to the waivers set forth in this Consent.

 

(b)                                 For the avoidance of doubt, this Consent does not constitute an acknowledgement by any of Hertz or any of its Subsidiaries that a Restatement, if any, would result in an Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default under any Series 2013-A Related Documents or any Series 2013-B Related Documents and each of Hertz, HVF II, HVF and RCFC reserves all of its rights under the Series 2013-A Related Documents and the Series 2013-B Related Documents in connection therewith.

 

Section 5.                                           Expenses.  Hertz agrees to pay or reimburse the Administrative Agent for (i) all of its reasonable out-of-pocket costs and expenses incurred in connection with this Consent, any other documents prepared in connection herewith and the transactions contemplated hereby, and (ii) the reasonable fees, charges and disbursements of Latham & Watkins LLP, as counsel to the Administrative Agent and the Lenders.

 

Section 6.                                           Counterparts.  This Consent may be executed in any number of

 

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counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument.  Delivery of an executed counterpart of a signature page of this Consent by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof.

 

Section 7.                                           Applicable Law.  THIS CONSENT, AND ALL MATTERS ARISING OUT OF OR RELATING TO THIS CONSENT, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAW.

 

Section 8.                                           Headings.  The headings of this Consent are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

 

[Remainder of page intentionally left blank.]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Waiver and Consent to be executed and delivered by their respective duly authorized officers as of the date first above written.

 

 

	
 
    	
THE HERTZ CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott Massengill
    
	
 
    	
 
    	
Name: R. Scott Massengill
    
	
 
    	
 
    	
Title: Senior Vice President and Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DTG OPERATIONS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott Massengill
    
	
 
    	
 
    	
Name: R. Scott Massengill
    
	
 
    	
 
    	
Title: Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
HERTZ VEHICLE FINANCING II LP, a limited partnership
    
	
 
    	
 
    
	
 
    	
By:
    	
HVF II GP Corp., its general partner
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott Massengill
    
	
 
    	
 
    	
Name: R. Scott Massengill
    
	
 
    	
 
    	
Title: Treasurer
    
	
 
    	
 
    
	
 
    	
HERTZ VEHICLE FINANCING LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott Massengill
    
	
 
    	
 
    	
Name: R. Scott Massengill
    
	
 
    	
 
    	
Title: Treasurer
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B WAIVER AND CONSENT]

 

 

	
 
    	
RENTAL CAR FINANCE CORP.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott Massengill
    
	
 
    	
 
    	
Name: R. Scott Massengill
    
	
 
    	
 
    	
Title: Treasurer
    

 

 

	
 
    	
BARCLAYS BANK   PLC, as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Laura   Spichiger
    
	
 
    	
 
    	
Name: Laura   Spichiger
    
	
 
    	
 
    	
Title: Director
    

 

 

	
 
    	
THE BANK OF NOVA   SCOTIA, as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kimberley   Snyder                                             ~
    
	
 
    	
 
    	
Name: Kimberley   Snyder
    
	
 
    	
 
    	
Title: Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LIBERTY STREET   FUNDING LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jill A.   Russo
    
	
 
    	
 
    	
Name: Jill A.   Russo
    
	
 
    	
 
    	
Title: Vice   President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B WAIVER AND CONSENT]

 

 

	
 
    	
BANK OF AMERICA,   N.A., as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nina Austin
    
	
 
    	
 
    	
Name: Nina   Austin
    
	
 
    	
 
    	
Title: Vice   President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B WAIVER AND CONSENT]

 

 

	
 
    	
CREDIT AGRICOLE   CORPORATE AND INVESTMENT BANK, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Sam Pilcer
    
	
 
    	
 
    	
Name: Sam Pilcer
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Kostantina   Kourmpetis
    
	
 
    	
 
    	
Name:   Konstantina Kourmpetis
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
ATLANTIC ASSET   SECURITIZATION LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
By: CREDIT   AGRICOLE CORPORATE AND INVESTMENT BANK, as Attorney-in-Fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Sam Pilcer
    
	
 
    	
 
    	
Name: Sam Pilcer
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Kostantina   Kourmpetis
    
	
 
    	
 
    	
Name:   Konstantina Kourmpetis
    
	
 
    	
 
    	
Title: Managing   Director
    

 

 

	
 
    	
ROYAL BANK OF CANADA, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Thomas C.   Dean
    
	
 
    	
 
    	
Name: Thomas C.   Dean
    
	
 
    	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Austin J.   Meier
    
	
 
    	
 
    	
Name: Austin J.   Meier
    
	
 
    	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THUNDER BAY FUNDING, LLC, as a Conduit Investor, under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Thomas C.   Dean
    
	
 
    	
 
    	
Name: Thomas C.   Dean
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

 

	
 
    	
VERSAILLES   ASSETS LLC, as a Committed Note Purchaser and as a Conduit Investor, in each case   under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: GLOBAL   SECURITIZATION SERVICES, LLC, its Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Bernard J.   Angelo
    
	
 
    	
 
    	
Name: Bernard J.   Angelo
    
	
 
    	
 
    	
Title: Senior   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NATIXIS NEW YORK   BRANCH, as a Funding Agent, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Terrence   Gregersen
    
	
 
    	
 
    	
Name: Terrence   Gregersen
    
	
 
    	
 
    	
Title: Executive   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   David S. Bondy
    
	
 
    	
 
    	
Name:   David S. Bondy
    
	
 
    	
 
    	
Title:   Managing Director
    

 

 

	
 
    	
THE ROYAL BANK   OF SCOTLAND PLC, as a Committed Note Purchaser and as a Funding Agent, in each case   under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: RBS   SECURITIES INC., as Agent
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ David J.   Donofrio
    
	
 
    	
 
    	
Name: David J.   Donofrio
    
	
 
    	
 
    	
Title:   Director
    

 

 

	
 
    	
BANK OF MONTREAL, as a Committed Note Purchaser, under   both the Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Brian Zaban
    
	
 
    	
 
    	
Name: Brian   Zaban
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
FAIRWAY FINANCE   COMPANY, LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Michael R.   Newell
    
	
 
    	
 
    	
Name: Michael R.   Newell
    
	
 
    	
 
    	
Title: Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BMO   CAPITAL MARKETS CORP., as a Funding Agent, under both the Series 2013-A   Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   John Pappano
    
	
 
    	
 
    	
Name:   John Pappano
    
	
 
    	
 
    	
Title:   Managing Director
    

 

 

	
 
    	
SUNTRUST BANK, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kheang Lim
    
	
 
    	
 
    	
Name: Kheang Lim
    
	
 
    	
 
    	
Title: Vice   President
    

 

 

	
 
    	
BNP PARIBAS, NEW YORK BRANCH, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Khoi-Anh   Berger-Luong
    
	
 
    	
 
    	
Name: Khoi-Anh   Berger-Luong
    
	
 
    	
 
    	
Title:  Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Steve   Parsons
    
	
 
    	
 
    	
Name: Steve   Parsons
    
	
 
    	
 
    	
Title: Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
STARBIRD FUNDING CORPORATION, as a Conduit Investor, under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ David V.   DeAngelis
    
	
 
    	
 
    	
Name: David V.   DeAngelis
    
	
 
    	
 
    	
Title: Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ John L.   Fridlington
    
	
 
    	
 
    	
Name: John L.   Fridlington
    
	
 
    	
 
    	
Title:  Vice   President
    

 

 

	
 
    	
GOLDMAN SACHS   BANK USA, as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Charles D. Johnston
    
	
 
    	
 
    	
Name: Charles D.   Johnston
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

 

	
 
    	
GRESHAM RECEIVABLES (NO. 29) LTD, as a Committed Note Purchaser and as a   Conduit Investor, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Shane   Hollywood
    
	
 
    	
 
    	
Name: Shane   Hollywood
    
	
 
    	
 
    	
Title: Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LLOYDS BANK PLC, as a Funding Agent, under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Thomas Spary
    
	
 
    	
 
    	
Name: Thomas   Spary
    
	
 
    	
 
    	
Title: Director
    

 

 

	
 
    	
DEUTSCHE BANK   AG, NEW YORK BRANCH, as a Committed Note Purchaser and as a Funding Agent, in each case   under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Colin   Bennett
    
	
 
    	
 
    	
Name: Colin   Bennett
    
	
 
    	
 
    	
Title: Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Billy   Strobel
    
	
 
    	
 
    	
Name: Billy   Strobel
    
	
 
    	
 
    	
Title: Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SARATOGA FUNDING   CORP., LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael R.   Newell
    
	
 
    	
 
    	
Name: Michael R.   Newell
    
	
 
    	
 
    	
Title: Vice   PresidentExhibit 10.19

 

EXECUTION VERSION

 

EXTENSION OF WAIVER AND CONSENT

 

EXTENSION OF WAIVER AND CONSENT under the Supplements referred to below, dated as of June 12, 2014 (this “Consent Extension”), among THE HERTZ CORPORATION, a Delaware corporation (“Hertz”), HERTZ VEHICLE FINANCING II LP, a special purpose Delaware limited partnership (“HVF II”), HERTZ VEHICLE FINANCING LLC, a special purpose Delaware limited liability company (“HVF”), RENTAL CAR FINANCE CORP., a special purpose Oklahoma corporation (“RCFC”), DTG OPERATIONS, INC., an Oklahoma corporation (“DTG Operations”), each party identified on the signature pages attached hereto as a Conduit Investor, each party identified on the signature pages attached hereto as a Committed Note Purchaser and each party identified on the signature pages attached hereto as a Funding Agent (such Conduit Investors, Committed Note Purchasers and Funding Agents, collectively, the “Lenders”).

 

RECITALS

 

WHEREAS, HVF II is party to that certain Series 2013-A Supplement, dated as of November 25, 2013 (as amended, restated, supplemented or otherwise modified, including pursuant to the Waiver and Consent referred to below, from time to time, the “Series 2013-A Supplement”), by and among HVF II, The Bank of New York Mellon Trust Company, N.A., Hertz, as Group I Administrator, Deutsche Bank AG, New York Branch, as Administrative Agent, and those certain conduit investors, committed note purchasers and funding agents from time to time party thereto;

 

WHEREAS, HVF II is party to that certain Series 2013-B Supplement, dated as of November 25, 2013 (as amended, restated, supplemented or otherwise modified, including pursuant to the Waiver and Consent referred to below, from time to time, the “Series 2013-B Supplement”, and together with the Series 2013-A Supplement, the “Supplements”), by and among HVF II, The Bank of New York Mellon Trust Company, N.A., Hertz, as Group II Administrator, Deutsche Bank AG, New York Branch, as Administrative Agent, and those certain conduit investors, committed note purchasers and funding agents from time to time party thereto;

 

WHEREAS, each of Hertz, HVF II, HVF, RCFC and the Lenders is a party to that certain Waiver and Consent, dated as of May 16, 2014 (the “Waiver and Consent”), pursuant to which the Lenders consented to extend the date for delivery of the March 2014 Quarterly Financial Statements (as defined therein) and certain other information required pursuant to the Series 2013-A Related Documents and the Series 2013-B Related Documents to the Extended Delivery Date (as defined therein) and granted the waivers specified therein until the Extended Delivery Date;

 

WHEREAS, each of Hertz, HVF II, HVF and RCFC has requested that the Lenders consent to extend the Extended Delivery Date specified in the Waiver and Consent, including for delivery of financial and other information for the second fiscal quarter of 2014;

 

 

WHEREAS, Hertz has concluded that the financial statements of Hertz and its consolidated subsidiaries for the fiscal year 2011 must be restated;

 

NOW, THEREFORE, in consideration of the covenants and agreements contained herein, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Section 1.                                           Defined Terms.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Waiver and Consent or in the Supplements, as applicable.

 

Section 2.                                           Extension of Waiver and Consent.

 

(a)         The Lenders hereby (i) agree to amend the Waiver and Consent by deleting the phrase “June 15, 2014” in Section 2(a) of the Waiver and Consent and substituting therefor the phrase “November 14, 2014” and (ii) agree that each reference to the “Extended Delivery Date” in the Waiver and Consent and in this Section 2 shall be construed to be a reference to the date November 14, 2014, including without limitation for purposes of the waivers set forth in Sections 2(b) and 2(c) of the Waiver and Consent, and the agreement and acknowledgement set forth in Section 2(d) of the Waiver and Consent.

 

(b)         The Lenders hereby agree to amend the Waiver and Consent by:

 

(i)                                     deleting the phrase “fiscal quarter ended March 31, 2014” in Section 2(a) of the Waiver and Consent and substituting therefor the phrase “fiscal quarters ended March 31, 2014 and June 30, 2014”,

 

(ii)                                  deleting the phrase “March 2014” each time such phrase appears in Sections 2(a) and 2(b) and in the recitals of the Waiver and Consent;

 

(iii)                               adding the following to the end of Section 2(b) of the Waiver and Consent:

 

“; provided that, notwithstanding anything to the contrary herein, the foregoing shall not constitute a waiver of, and the Lenders do not hereby waive, any Amortization Event or Potential Amortization Event with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes resulting from a Hertz Senior Credit Facility Default whether or not such Hertz Senior Credit Facility Default arose, directly or indirectly, as a result of or in connection with the failure to deliver any of the Quarterly Financial Statements or any certificates or other information under any documents related to Hertz’s Senior Credit Facilities or to any other indebtedness”;

 

(iv)                              deleting the phrase “until the Extended Delivery Date” in the first sentence of Section 2(c) of the Waiver and Consent and substituting therefor the phrase “until the earlier of the Extended Delivery Date and the 15th day following the first date on which all Quarterly Financial Statements have been delivered (such earlier date, the “Extension Date”)”;

 

2

 

(v)                                 adding the following to the end of the first sentence of Section 2(c) of the Waiver and Consent:

 

“; provided that, notwithstanding anything to the contrary herein, the foregoing shall not constitute a waiver of, and the Lenders do not hereby waive, any Amortization Event or Potential Amortization Event with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes resulting from (A) a Hertz Senior Credit Facility Default, (B) any Event of Bankruptcy with respect to Hertz Vehicles LLC, HGI, HVF, HVF II, the HVF II General Partner, DTAG, DTG, Hertz or RCFC, (C) the failure of the Series 2013-G1 Aggregate Asset Amount to exceed the Series 2013-G1 Asset Coverage Threshold Amount, (D) the failure of the Series 2010-3 Aggregate Asset Amount to exceed the Series 2010-3 Asset Coverage Threshold Amount, (E) the occurrence of a Group I Aggregate Asset Amount Deficiency, (F) the occurrence of a Group II Aggregate Asset Amount Deficiency, (G) the occurrence of a Series 2013-A Liquid Enhancement Deficiency, (H) the occurrence of a Series 2013-B Liquid Enhancement Deficiency, (I) with respect to the Series 2013-A Notes, the occurrence of a Series 2013-B Amortization Event and (J) with respect to the Series 2013-B Notes, the occurrence of a Series 2013-A Amortization Event, in each case, whether or not any of the events or circumstances specified in the foregoing clauses (A) through (J) arose, directly or indirectly, as a result of or in connection with the Restatement, if any, or any action taken or any failure to take action while any such events giving rise to such events or circumstances was continuing to the extent such action or failure to take action would have been permitted but for the existence of such events”;

 

(vi)                              deleting the phrase “Extended Delivery Date” each time such phrase appears in the second sentence of Section 2(c) of the Waiver and Consent and substituting therefor the phrase “Extension Date”;

 

(vii)                           deleting the phrase “Extended Delivery Date” in Section 2(d) of the Waiver and Consent and substituting therefor the phrase “Extension Date”; and

 

(viii)                        adding the following immediately after each reference to “Section 2” in Section 2(d) of the Waiver and Consent:

 

“(other than any Amortization Event or Potential Amortization Event with respect to any of the Series 2013-A Notes or any of the Series 2013-B Notes resulting from any of the events or circumstances described in clauses (A) through (J) of Section 2(c) above)”.

 

Section 3.                                           Conditions to Effectiveness of Consent Extension.  This Consent Extension shall become effective on the date (such date, if any, the “Consent Effective Date”) the Administrative Agent shall have received this Consent Extension executed and delivered by the parties hereto.  The Administrative Agent shall give prompt notice in writing to Hertz of the occurrence of the Consent Effective Date.  For the avoidance of doubt, the Lenders hereby expressly waive any requirement that any “Rating Agency Condition” (as defined in any Series 2013-A Related Document or any Series 2013-B Related Document) be satisfied in connection with this Consent Extension.

 

3

 

Section 4.                                           Effects on Related Documents; Acknowledgement.

 

(a)                                 Except as expressly modified hereby, the Waiver and Consent shall continue in effect in accordance with its terms.  Except as expressly set forth herein and in the Waiver and Consent as modified hereby, this Consent Extension (i) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, the Collateral Agent or the Trustee under any Series 2013-A Related Document or any Series 2013-B Related Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Supplements or in any other provision of any Series 2013-A Related Document or any Series 2013-B Related Document.  Each and every term, condition, obligation, covenant and agreement contained in the Supplements or any other Series 2013-A Related Document or any other Series 2013-B Related Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect as modified by this Consent Extension and the Waiver and Consent and nothing herein can or may be construed as a novation thereof.  Each of Hertz, DTG Operations, HVF II, HVF and RCFC reaffirms on the Consent Effective Date its obligations under the Series 2013-A Related Documents and the Series 2013-B Related Documents, in each case, to which it is a party and the validity, enforceability and perfection of the Liens, if any, granted by it pursuant to the Series 2013-A Related Documents and the Series 2013-B Related Documents, in each case, to which it is a party.  All references to any Series 2013-A Related Document or to any Series 2013-B Related in any Series 2013-A Related Document or in any Series 2013-B Related Document and all references in any such document to “hereunder”, “hereof” or words of like import referring to any such document, shall, unless expressly provided otherwise, refer to such document after giving effect to the waivers set forth in this Consent Extension and the Waiver and Consent.

 

(b)                                 For the avoidance of doubt, neither this Consent Extension nor the Waiver and Consent as modified hereby constitutes an acknowledgement by any of Hertz or any of its Subsidiaries that a Restatement would result in an Amortization Event, Potential Amortization Event, Series 2013-G1 Amortization Event, Series 2013-G1 Potential Amortization Event, Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event, Operating Lease Event of Default or Potential Operating Lease Event of Default under any Series 2013-A Related Documents or any Series 2013-B Related Documents and each of Hertz, HVF II, HVF and RCFC reserves all of its rights under the Series 2013-A Related Documents and the Series 2013-B Related Documents in connection therewith.

 

Section 5.                                           Expenses.  Hertz agrees to pay or reimburse the Administrative Agent for (i) all of its reasonable out-of-pocket costs and expenses incurred in connection with this Consent Extension, any other documents prepared in connection herewith and the transactions contemplated hereby, and (ii) the reasonable fees, charges and disbursements of Latham & Watkins LLP, as counsel to the Administrative Agent and the Lenders.

 

Section 6.                                           Counterparts.  This Consent Extension may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument.  Delivery of an executed counterpart of a signature page of this Consent Extension by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof.

 

4

 

Section 7.                                           Applicable Law.  THIS CONSENT EXTENSION, AND ALL MATTERS ARISING OUT OF OR RELATING TO THIS CONSENT EXTENSION, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAW.

 

Section 8.                                           Headings.  The headings of this Consent Extension are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

 

[Remainder of page intentionally left blank.]

 

5

 

IN WITNESS WHEREOF, the parties hereto have caused this Consent Extension to be executed and delivered by their respective duly authorized officers as of the date first above written.

 

	
 
    	
 
    
	
 
    	
THE HERTZ   CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott   Massengill
    
	
 
    	
Name: R. Scott   Massengill
    
	
 
    	
Title: Senior   Vice President and Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DTG   OPERATIONS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott   Massengill
    
	
 
    	
Name: R. Scott   Massengill
    
	
 
    	
Title: Assistant   Treasurer
    
	
 
    	
 
    
	
 
    	
HERTZ VEHICLE   FINANCING II LP, a limited partnership
    
	
 
    	
 
    
	
 
    	
By: HVF II GP   Corp., its general partner
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott   Massengill
    
	
 
    	
Name: R. Scott   Massengill
    
	
 
    	
Title: Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DTG OPERATIONS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott   Massengill
    
	
 
    	
Name: R. Scott   Massengill
    
	
 
    	
Title: Treasurer
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
HERTZ VEHICLE   FINANCING LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott   Massengill
    
	
 
    	
Name: R. Scott   Massengill
    
	
 
    	
Title: Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
RENTAL CAR   FINANCE CORP.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ R. Scott   Massengill
    
	
 
    	
Name: R. Scott   Massengill
    
	
 
    	
Title: Assistant   Treasurer
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
BARCLAYS BANK   PLC, as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Laura   Spichiger
    
	
 
    	
 
    	
Name: Laura   Spichiger
    
	
 
    	
 
    	
Title: Director
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
THE BANK OF NOVA   SCOTIA, as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kimberley   Snyder
    
	
 
    	
 
    	
Name: Kimberley   Snyder
    
	
 
    	
 
    	
Title: Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LIBERTY STREET   FUNDING LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jill A.   Russo
    
	
 
    	
 
    	
Name: Jill A.   Russo
    
	
 
    	
 
    	
Title: Vice   President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
BANK OF AMERICA,   N.A., as a   Committed Note Purchaser and as a Funding Agent, in each case under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nina Austin
    
	
 
    	
 
    	
Name: Nina   Austin
    
	
 
    	
 
    	
Title: Vice   President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
CREDIT AGRICOLE   CORPORATE AND INVESTMENT BANK, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Sam Pilcer
    
	
 
    	
 
    	
Name:  Sam Pilcer
    
	
 
    	
 
    	
Title:  Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger   Klepper
    
	
 
    	
 
    	
Name:  Roger Klepper
    
	
 
    	
 
    	
Title:  Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ATLANTIC ASSET   SECURITIZATION LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: CREDIT AGRICOLE CORPORATE AND   INVESTMENT BANK, as Attorney-in-Fact
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Sam Pilcer
    
	
 
    	
 
    	
Name:  Sam Pilcer
    
	
 
    	
 
    	
Title:  Managing Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Roger   Klepper
    
	
 
    	
 
    	
Name:  Roger Klepper
    
	
 
    	
 
    	
Title:  Managing Director
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
ROYAL BANK OF CANADA, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert S.   Jones
    
	
 
    	
 
    	
Name:  Robert S. Jones
    
	
 
    	
 
    	
Title:  Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kevin P.   Wilson
    
	
 
    	
 
    	
Name:  Kevin P. Wilson
    
	
 
    	
 
    	
Title:  Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THUNDER BAY FUNDING, LLC, as a Conduit Investor, under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kevin P.   Wilson
    
	
 
    	
 
    	
Name:  Kevin P. Wilson
    
	
 
    	
 
    	
Title:  Authorized Signatory
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
VERSAILLES   ASSETS LLC, as a Committed Note Purchaser and as a Conduit Investor, in each case   under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: GLOBAL SECURITIZATION SERVICES, LLC,   its Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ John L.   Fridlington
    
	
 
    	
 
    	
Name: John L.   Fridlington
    
	
 
    	
 
    	
Title: Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NATIXIS NEW YORK   BRANCH, as a Funding Agent, under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Terrence Gregersen
    
	
 
    	
 
    	
Name:  Terrence Gregersen
    
	
 
    	
 
    	
Title:    Executive Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David S. Bondy
    
	
 
    	
 
    	
Name:  David S. Bondy
    
	
 
    	
 
    	
Title:    Managing Director
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
THE ROYAL BANK   OF SCOTLAND PLC, as a Committed Note Purchaser and as a Funding Agent, in each case   under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: RBS   SECURITIES INC., as Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David J.   Donofrio
    
	
 
    	
 
    	
Name:  David J. Donofrio
    
	
 
    	
 
    	
Title:  Director
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
BANK OF MONTREAL, as a Committed Note Purchaser, under   both the Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Brian Zaban
    
	
 
    	
 
    	
Name:  Brian Zaban
    
	
 
    	
 
    	
Title:  Managing Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
FAIRWAY FINANCE   COMPANY, LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Lori Gebron 
    	
 
    
	
 
    	
 
    	
Name:  Lori Gebron
    
	
 
    	
 
    	
Title:  Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BMO CAPITAL   MARKETS CORP., as a Funding Agent, under both the Series 2013-A   Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ John Pappano
    
	
 
    	
 
    	
Name:  John Pappano
    
	
 
    	
 
    	
Title:  Managing Director
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
SUNTRUST BANK, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kheang Lim
    
	
 
    	
 
    	
Name:  Kheang Lim
    
	
 
    	
 
    	
Title:  Vice President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
BNP PARIBAS, NEW YORK BRANCH, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mary   Dierdorff
    
	
 
    	
 
    	
Name:  Mary Dierdorff
    
	
 
    	
 
    	
Title:  Managing Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Khoi-Ann   Berger-Luong
    
	
 
    	
 
    	
Name:  Khoi-Ann Berger-Luong
    
	
 
    	
 
    	
Title:  Managing Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
STARBIRD FUNDING CORPORATION, as a Conduit Investor, under both the   Series 2013-A Supplement and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David V.   DeAngelis
    
	
 
    	
 
    	
Name:  David V. DeAngelis
    
	
 
    	
 
    	
Title:  Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ John L.   Fridlington
    
	
 
    	
 
    	
Name:  John L. Fridlington
    
	
 
    	
 
    	
Title:  Vice President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
GOLDMAN SACHS BANK USA, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Charles D.   Johnston
    
	
 
    	
 
    	
Name:  Charles D. Johnston
    
	
 
    	
 
    	
Title:  Authorized Signatory
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
GRESHAM RECEIVABLES (NO. 29) LTD, as a Committed Note Purchaser and as a   Conduit Investor, in each case under both the Series 2013-A Supplement   and the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ariel Pinel
    
	
 
    	
 
    	
Name:  Ariel Pinel
    
	
 
    	
 
    	
Title:  Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LLOYDS   BANK PLC, as a   Funding Agent, under both the Series 2013-A Supplement and the Series 2013-B   Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Thomas Spary
    
	
 
    	
 
    	
Name:    Thomas Spary
    
	
 
    	
 
    	
Title:    Director
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

 

 

	
 
    	
DEUTSCHE BANK AG, NEW YORK BRANCH, as a Committed Note Purchaser and as a   Funding Agent, in each case under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Colin Bennet
    
	
 
    	
 
    	
Name:  Colin Bennet
    
	
 
    	
 
    	
Title:  Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Billy   Strobel
    
	
 
    	
 
    	
Name:  Billy Strobel
    
	
 
    	
 
    	
Title:  Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SARATOGA FUNDING   CORP., LLC, as a Conduit Investor, under both the Series 2013-A Supplement and   the Series 2013-B Supplement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael R.   Newell
    
	
 
    	
 
    	
Name:  Michael R. Newell
    
	
 
    	
 
    	
Title:  Vice President
    

 

[SIGNATURE PAGE TO SERIES 2013-A AND 2013-B EXTENSION OF WAIVER AND CONSENT]

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