Document:

EXHIBIT 10.10

 

SECOND AMENDMENT TO FOURTH AMENDED AND RESTATED

COLLATERAL AGENCY AGREEMENT

 

THIS SECOND AMENDMENT to FOURTH
AMENDED AND RESTATED COLLATERAL AGENCY AGREEMENT, dated as of October 27, 2017 (this “Amendment”), is among WORLD OMNI
LT, a Delaware statutory trust (the “Borrower”), WORLD OMNI LEASE FINANCE LLC, a Delaware limited liability company
(“WOLF LLC”), AUTO LEASE FINANCE LLC, a Delaware limited liability company (the “Initial Beneficiary”),
AL HOLDING CORP., a Delaware corporation (“ALHC”), as Closed-End Collateral Agent, BANK OF AMERICA, N.A. (the
 “Deal Agent”), U.S. BANK NATIONAL ASSOCIATION (“U.S. Bank”), as Closed-End Administrative Agent
and the lenders party hereto (the “Required Warehouse Lenders”).

 

Background

 

1.       The
Borrower, the Initial Beneficiary, ALHC, the Deal Agent, U.S. Bank and certain secured parties from time to time have entered into that
certain Fourth Amended and Restated Collateral Agency Agreement, dated as of December 15, 2009, as amended by the First Amendment to Fourth
Amended and Restated Collateral Agency Agreement, among the Borrower, WOLF LLC, the Initial Beneficiary, ALHC, the Deal Agent, U.S. Bank
and certain secured parties, dated as of October 30, 2015 (as further amended, supplemented or otherwise modified through the date hereof,
the “Agreement”).

 

2.        The parties hereto
desire to amend the Agreement in certain respects as set forth herein.

 

NOW, THEREFORE, in consideration
of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows.

 

SECTION 1.     
Definitions. Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings assigned
thereto in the Agreement.

 

SECTION 2.     
Amendments to the Agreement. The Agreement is hereby amended as follows:

 

2.1             
The replacement of each reference to “The Bank of Tokyo-Mitsubishi UFJ Ltd., New York Branch” with a reference to “The
Bank of Tokyo-Mitsubishi UFJ Ltd.”.

 

2.2             
The Index of Defined Terms included at the beginning of the Agreement is hereby amended by inserting the following terms in the
appropriate alphabetical order therein:

 

	“Gross Total Lease Principal Balance	Appendix A,
	Weighted Average FICO Score	Appendix A”

 

2.3             
Section 6.2(b)(D) of the Agreement is hereby amended by replacing it in its entirety as follows:

 

“(D)      the
eligibility criteria used in selecting the Closed-End Assets for such reallocation from the Warehouse Facility Pool would not cause,
with respect

 

    
	 	1	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

to the resulting Warehouse Facility Pool,
(i) the Weighted Average FICO Score of all Closed-End Assets to be less than 710 or (ii) the aggregate Outstanding Principal
Balance of all Closed-End Assets owned by Obligors which have a FICO Score between 0 and 619 (including Obligors
with no FICO Scores) to exceed 10% of the Gross Total Lease Principal Balance. The prohibited eligibility criteria described
above shall not include (and this subclause (D) shall not be applicable to) any eligibility criteria based on the delinquency
status of the related Closed-End Leases that are applicable to the securitization or other financing to be backed by the related Closed-End
Exchange Note, notwithstanding that (x) such eligibility criteria or the requirements are more stringent than those applicable to the
Warehouse Facility Pool or (y) selection in accordance with those criteria otherwise could be viewed as having an adverse effect on the
Warehouse Facility Lenders).”

 

2.4             
Appendix A of the Agreement is hereby amended by adding the following definitions in alphanumeric order as follows:

 

““Adverse
Selection Criteria” means eligibility criteria that does not comply with Section 6.2(b)(D).”

 

““Gross
Total Lease Principal Balance” means the aggregate Outstanding Principal Balance of all Closed-End Leases included in the
Warehouse Facility Pool (other than Closed-End Leases related to Defaulted Receivables).”

 

““Weighted Average FICO
Score” means, as of any date of determination, the sum of the weighted FICO Scores calculated for each FICO Score as follows:
(i) the sum of the aggregate Outstanding Principal Balance of all Closed-End Assets owed by Obligors for such FICO Score, divided
by the sum of the aggregate Outstanding Principal Balance of all Closed-End Assets for all FICO Scores, excluding any FICO Score
of zero and any Obligors with no FICO Scores, multiplied by (ii) such FICO Score.”

 

SECTION 3.     
Miscellaneous. The Agreement, as amended hereby, remains in full force and effect. Any reference to the Agreement from and
after the date hereof shall be deemed to refer to the Agreement as amended hereby, unless otherwise expressly stated. This Amendment shall
be governed by, and construed in accordance with, the internal laws of the State of New York without regard to otherwise applicable principles
of conflicts of law (other than Section 5-1401 of the New York General Obligations Law). This Amendment may be executed in any number
of counterparts, and by the different parties hereto on separate counterparts, each of which when so executed shall be deemed to be an
original and all of which when taken together shall constitute one and the same agreement. The various headings of this Amendment are
inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Agreement or any provision hereof
or thereof.

 

SECTION 4.     
Effective Date of this Amendment. This Amendment shall become effective on the date that the Deal Agent shall have received
counterparts of this Amendment (including facsimile copies) duly executed by all of the parties hereto.

 

    
	 	2	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

[SIGNATURE PAGES FOLLOW]

 

    
	 	3	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

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

  

	 	WORLD OMNI LT.,
	 	as Borrower
	 	 
	 	By: VT INC., as trustee 
	 	 
	 	By: 	/s/ Christopher J. Nuxoll
	 	Name: 	Christopher J. Nuxoll
	 	Its: 	Vice President
	 	
	 	AUTO LEASE FINANCE LLC,
	 	as Initial Beneficiary
	 	 
	 	By:	 /s/ Bryan Romano
	 	Name:	 Bryan Romano
	 	Its: 	Assistant Treasurer

 

    
	 	S-1	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	AL HOLDING CORP.
	 	as Closed-End Collateral Agent
	 	 
	 	By:	/s/ Denise Veidt
	 	Name:	Denise Veidt
	 	Title:	Vice President

 

    
	 	S-2	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	BANK OF AMERICA, N.A.,
	 	as Deal Agent and as an Alternate
    Lender
	 	 
	 	By:	/s/ Bryan S. Kearns
	 	Name:	Bryan S. Kearns
	 	Title:	Director

 

    
	 	S-3	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as Closed-End Administrative Agent
	 	
	 	By:	/s/
    Christopher J. Nuxoll
	 	Name:	Christopher J. Nuxoll
	 	Title:	Vice President

 

    
	 	S-4	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	GOTHAM FUNDING CORPORATION, as a 

Conduit
    Lender
	 	 
	 	By:	/s/ David V. DeAngelis
	 	Name:	David V. DeAngelis
	 	Title:	Vice President
	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ LTD.,

    as a Group Agent
	 	 
	 	By:	/s/ Christopher Pohl
	 	Name:	Christopher Pohl
	 	Title:	Managing Director
	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ LTD.,
    

as an Alternate Lender
	 	 
	 	By:	/s/ Christopher Pohl
	 	Name:	Christopher Pohl
	 	Title:	Managing Director

 

    
	 	S-5	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	WELLS FARGO BANK, N.A., as a Group
    Agent 

and as an Alternate Lender
	 	 
	 	By:	/s/ Austin Vanassa
	 	Name:	Austin Vanassa
	 	Title:	Director
	 	 
	 	By:	/s/ Austin Vanassa
	 	Name:	Austin Vanassa
	 	Title:	Director

 

    
	 	S-6	2nd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	ACKNOWLEDGED AND AGREED:
	 	WORLD OMNI LEASE FINANCE LLC
	 	 
	 	By:	/s/ Bryan Romano
	 	Name:	Bryan Romano
	 	Title:	Assistant Treasurer

 

    
	 	S-7	2nd Amendment to Fourth Amended and
 Restated Collateral Agency AgreementEXHIBIT 10.11

 

THIRD AMENDMENT TO FOURTH AMENDED AND RESTATED

COLLATERAL AGENCY AGREEMENT

 

THIS THIRD AMENDMENT to FOURTH
AMENDED AND RESTATED COLLATERAL AGENCY AGREEMENT, dated as of October 26, 2018 (this “Amendment”), is among WORLD OMNI
LT, a Delaware statutory trust (the “Borrower”), WORLD OMNI LEASE FINANCE LLC, a Delaware limited liability company
(“WOLF LLC”), AUTO LEASE FINANCE LLC, a Delaware limited liability company (the “Initial Beneficiary”),
AL HOLDING CORP., a Delaware corporation (“ALHC”), as Closed-End Collateral Agent, BANK OF AMERICA, N.A. (the
 “Deal Agent”), U.S. BANK NATIONAL ASSOCIATION (“U.S. Bank”), as Closed-End Administrative Agent
and the lenders party hereto (the “Required Warehouse Lenders”).

 

Background

 

1.       The
Borrower, the Initial Beneficiary, ALHC, the Deal Agent, U.S. Bank and certain secured parties from time to time have entered into that
certain Fourth Amended and Restated Collateral Agency Agreement, dated as of December 15, 2009, as amended by the First Amendment to Fourth
Amended and Restated Collateral Agency Agreement, among the Borrower, WOLF LLC, the Initial Beneficiary, ALHC, the Deal Agent, U.S. Bank
and certain secured parties, dated as of October 30, 2015 and as amended by the Second Amendment to the Fourth Amended and Restated Collateral
Agency Agreement, among the Borrower, WOLF LLC, the Initial Beneficiary, ALHC, the Deal Agent, U.S. Bank and certain secured parties,
dated as of October 27, 2017 (as further amended, supplemented or otherwise modified through the date hereof, the “Agreement”).

 

2.        The parties hereto desire
to amend the Agreement in certain respects as set forth herein.

 

NOW, THEREFORE, in consideration
of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows.

 

SECTION 1.     
Definitions. Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings assigned
thereto in the Agreement.

 

SECTION 2.     
Amendments to the Agreement. The Agreement is hereby amended as follows:

 

2.1             
The definition of “Wind-Down Borrowing Base” in Appendix A to the Agreement is hereby amended by deleting the reference
to “Total Reserve Lease Principal Balance” therein and changing it to “Total Lease Principal Balance”.

 

2.2             
Clause (c) of the definition of “Qualifying Hedge Contract” in Appendix A to the Agreement is hereby amended and restated
in its entirety as set forth below:

 

“(c) copies of
each master agreement entered into with each counterparty and each confirmation issued thereunder shall have been delivered to the Closed-

 

    
	 	1	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

End Collateral Agent to be held by the
Closed-End Collateral Agent on behalf of each Warehouse Facility Agent; and”

 

SECTION 3.     
Miscellaneous. The Agreement, as amended hereby, remains in full force and effect. Any reference to the Agreement from and
after the date hereof shall be deemed to refer to the Agreement as amended hereby, unless otherwise expressly stated. This Amendment shall
be governed by, and construed in accordance with, the internal laws of the State of New York without regard to otherwise applicable principles
of conflicts of law (other than Section 5-1401 of the New York General Obligations Law). This Amendment may be executed in any number
of counterparts, and by the different parties hereto on separate counterparts, each of which when so executed shall be deemed to be an
original and all of which when taken together shall constitute one and the same agreement. The various headings of this Amendment are
inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Agreement or any provision hereof
or thereof.

 

SECTION 4.     
Effective Date of this Amendment. This Amendment shall become effective on the date that the Deal Agent shall have received
the following:

 

(a)              
counterparts of this Amendment (including facsimile copies) duly executed by all of the parties hereto;

 

(b)              
an Officer’s Certificate of the Borrower to the Closed-End Administrative Agent to the effect that this Amendment will not
materially adversely affect the interests of any Exchange Noteholder; and

 

(c)              
a tax opinion, as required pursuant to Section 9.5 of the Agreement.

 

[SIGNATURE PAGES FOLLOW]

 

    
	 	2	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

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

  

	 	WORLD OMNI LT.,
	 	as Borrower
	 	 
	 	By: VT INC., as trustee
	 	 
	 	By:	/s/ Christopher J. Nuxoll
	 	Name:	Christopher J. Nuxoll
	 	Its:	Vice President
	 	 
	 	AUTO LEASE FINANCE LLC,
	 	as Initial Beneficiary
	 	 
	 	By:	/s/ Bryan Romano
	 	Name:	Bryan Romano
	 	Its:	Assistant Treasurer

 

    
	 	S-1	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	AL HOLDING CORP.
 as Closed-End
    Collateral Agent 
	 	 
	 	By:	/s/ Denise Veidt
	 	Name:	Denise Veidt
	 	Title:	Vice President

 

    
	 	S-2	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	BANK OF AMERICA, N.A.,
 as Deal
    Agent, Group Agent and as an Alternate Lender
	 	 
	 	By:	/s/ Christopher C. Jonas
	 	Name:	Christopher C. Jonas
	 	Title:	Director

 

    
	 	S-3	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,

    as Closed-End Administrative Agent
	 	 
	 	By:	/s/ Christopher J. Nuxoll
	 	Name:	Christopher J. Nuxoll
	 	Its:	Vice President

 

    
	 	S-4	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	GOTHAM FUNDING CORPORATION, as a 

    Conduit Lender
	 	 
	 	By:	/s/ Kevin J. Corrigan
	 	Name:	Kevin J. Corrigan
	 	Its:	Vice President
	 	 
	 	MUFG BANK, LTD., as a Group Agent
	 	 
	 	By:	/s/ Christopher Pohl
	 	Name:	Christopher Pohl
	 	Its:	Managing Director
	 	 
	 	MUFG BANK, LTD., as an Alternate Lender
	 	 
	 	By:	/s/ Christopher Pohl
	 	Name:	Christopher Pohl
	 	Its:	Managing Director

 

    
	 	S-5	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	TD SECURITIES INC., as a Group Agent
	 	 
	 	By:	/s/ Peter O'Sullivan
	 	Name:	Peter O'Sullivan
	 	Title:	Director
	 	 
	 	THE TORONTO-DOMINION BANK,
	 	as an Alternate Lender
	 	 
	 	By:	/s/ Bradley Purkis
	 	Name:	Bradley Purkis
	 	Title:	Managing Director

 

    
	 	S-6	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	WELLS FARGO BANK, N.A., as a Group
    Agent 
 and as an Alternate Lender
	 	 
	 	By:	/s/ Austin Vanassa
	 	Name:	Austin Vanassa
	 	Title:	Director

 

    
	 	S-7	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

     

    

 

	 	ACKNOWLEDGED AND AGREED:
	 	WORLD OMNI LEASE FINANCE LLC
	 	 
	 	By:	/s/ Bryan Romano
	 	Name:	Bryan Romano
	 	Title:	Assistant Treasurer

 

    
	 	S-8	3rd Amendment to Fourth Amended and
 Restated Collateral Agency Agreement

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