Document:

EX-10.35

 Exhibit 10.35 

AMENDMENT TO 

RECEIVABLES SALE AGREEMENT 

This AMENDMENT TO RECEIVABLES SALE AGREEMENT dated as of September 28, 2012 (this “Amendment”), is entered
into among SIRVA RELOCATION CREDIT, LLC, as Seller, SIRVA RELOCATION LLC (“SIRVA Relo”) and SIRVA GLOBAL RELOCATION, INC. (“SIRVA Global”), as Servicers and Originators, and WELLS FARGO
BANK, NATIONAL ASSOCIATION, ACTING THROUGH ITS WELLS FARGO BUSINESS CREDIT DIVISION, as Agent (in such capacity, the “Agent”) and as the sole Purchaser. 

RECITALS 
  

	 	A.	The Seller, the Servicers, the Purchasers and the Agent are parties to that certain Receivables Sale Agreement, dated as of September 30, 2008, as amended as of January 30, 2009, May 31,
2009, December 23, 2009 and March 17, 2011 (the “Receivables Sale Agreement”). 

  

	 	B.	Executive Relocation Corporation was originally a party to the Receivables Sale Agreement as a Servicer and Originator but was subsequently merged with and into NAVL LLC, effective as of December 30, 2009, with
NAVL LLC as the surviving entity, and NAVL LLC was thereafter merged with and into SIRVA Relo, effective as of December 31, 2009, with SIRVA Relo, as the surviving entity. 

 

	 	C.	The parties wish to amend the Receivables Sale Agreement as hereinafter set forth. 

 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

	 	1.	Certain Defined Terms. Capitalized terms which are used herein without definition and that are defined in the Receivables Sale Agreement shall have the same meanings herein as in the Receivables Sale Agreement,
as amended by this Amendment. 

  

	 	2.	Amendments to Receivables Sale Agreement. 

  

	 	(a)	Section 1.12 of the Receivables Sale Agreement is hereby deleted in its entirety. 

  

	 	(b)	Clause (ii) of the last sentence of Sections 5.1(e), 5.2(e) and 5.3(e) of the Receivables Sale Agreement is hereby amended and restated as follows: 

“(ii) thereafter, so long as no Termination Event exists, the Agent shall have two sets of audit and test verifications done in any
calendar year, and upon the request of the Agent, up two two additional sets of audit and test verifications done in any calendar year.” 
  

	 	(c)	The definition of “Scheduled Termination Date” as set forth in Schedule I to the Receivables Sale Agreement is hereby amended and restated in its entirety as  

 

	 	  	“Scheduled Termination Date” means December 31, 2012.” 

	 	(d)	Schedule II to the Receivables Sale Agreement is hereby amended by deleting the “$120,000,000” set forth therein with respect to Wells Fargo Bank, N.A.’s Purchase Limit and substituting $100,000,000
therefor. 

  

	 	3.	Representations and Warranties. With respect to the Sale Agreement, the Seller and each Servicer, and with respect to the Purchase Agreement, the Originators hereby represent and warrant to the Agent and the
Purchasers as follows: 

  

	 	(i)	Representations and Warranties. The representations and warranties contained in Article IV of the Receivables Sale Agreement and Section 4 of the Purchase Agreement are true and correct as of the date hereof
(except to the extent such representations and warranties relate solely to an earlier date, in which case they are true and correct as of such earlier date). 

  

	 	(ii)	Enforceability. The execution and delivery by the Seller and each Servicer of this Amendment, and the performance by the Seller and each Servicer of this Amendment and the Receivables Sale Agreement, as amended
hereby (the “Amended Agreement”), are within the corporate powers of the Seller and each Servicer and have been duly authorized by all necessary corporate or company action on the part of the Seller and each Servicer. This
Amendment and the Amended Agreement are valid and legally binding obligations of the Seller and each Servicer, enforceable in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability. 

  

	 	(iii)	No Potential Termination Event. No Potential Termination Event that will not be cured by this Amendment becoming effective has occurred and is continuing. 

 

	 	4.	Acknowledgment by Originators. Each of SIRVA Relo and SIRVA Global, in its capacity as an Originator, acknowledges and agrees to the terms of this Amendment, including without limitation Section 2 hereof.

  

	 	5.	Effect of Amendment. Except as expressly amended and modified by this Amendment, all provisions of the Receivables Sale Agreement shall remain in full force and effect; and the Seller and the Servicers confirm
and reaffirm their obligations under the Amended Agreement and the other Transaction Documents. After this Amendment becomes effective, all references in the Receivables Sale Agreement (or in any other Transaction Document) to “this
Agreement”, “hereof”, “herein” or otherwise referring to the Receivables Sale Agreement shall be deemed to be references to the Amended Agreement. This Amendment shall not be deemed to expressly or impliedly waive, amend or
supplement any provision of the Receivables Sale Agreement other than as set forth herein. 

	 	6.	Effectiveness. This Amendment shall become effective as of September 28, 2012 (the “Amendment Effective Date”), provided that the Agent shall have received no later than
October 5, 2012 (a) counterparts of this Amendment (whether by facsimile, email transmission or otherwise) executed by the Seller, the Servicers, the Originators, the Agent and the Purchasers and consented to by Parent and
(b) evidence satisfactory to the Agent of authorization to file amendments to the UCC financing statements filed with respect to each Originator under that certain Credit Agreement, dated as of March 17, 2011, by and among Parent, SIRVA,
Inc., the several lenders party thereto and Barclays Bank PLC, as administrative agent and collateral agent and that certain Credit Agreement, dated as of March 17, 2011, by and among Parent, SIRVA, Inc., North American Van Lines, Inc., Allied
Van Lines, Inc., SIRVA Relocation LLC, the several lenders party thereto and Wells Fargo Capital Finance, LLC, as agent and sole bookrunner, that, in each case, amend the definition of Receivables Sale Agreement set forth in such UCC financing
statements to include this Amendment. 

  

	 	7.	Headings; Counterparts. Section Headings in this Amendment are for reference only and shall not affect the construction of this Amendment. This Amendment may be executed by different parties on any number of
counterparts, each of which shall constitute an original and all of which, taken together, shall constitute one and the same agreement. 

  

	 	8.	Cumulative Rights and Severability. All rights and remedies of the Purchasers and Agent hereunder shall be cumulative and non-exclusive of any rights or remedies such Persons have under law or otherwise. Any
provision hereof that is prohibited or unenforceable in any jurisdiction shall, in such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and without affecting
such provision in any other jurisdiction. 

  

	 	(i)	Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws (and not the law of conflicts) of the State of Illinois. 

[signature pages begin on next page] 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

  

			
	SIRVA RELOCATION CREDIT, LLC, as Seller
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	President

  

			
	SIRVA RELOCATION LLC, as a Servicer
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

			
	SIRVA GLOBAL RELOCATION, INC., as a Servicer
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

					
		 	S-1	 	            Consent and Amendment

 The undersigned (i) consent and agree to the foregoing Amendment, (ii) confirm that references in the
Purchase Agreement to the Receivables Sale Agreement shall be references to such agreement as amended by the Amendment, and (iii) confirm that the Purchase Agreement is in full force and effect. 

 

			
	SIRVA RELOCATION LLC, as an Originator
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

			
	SIRVA GLOBAL RELOCATION, INC., as an Originator
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

					
		 	S-2	 	            Consent and Amendment

 
			
	 WELLS FARGO BANK, NATIONAL

ASSOCIATION, ACTING THROUGH ITS

WELLS FARGO BUSINESS CREDIT DIVISION, as Agent and sole Purchaser

		
	By:	 	/s/ Jennifer Daily
	Title:	 	 Vice President

  

					
		 	S-3	 	            Consent and Amendment

 ACKNOWLEDGEMENT AND CONSENT 

Reference is made to the Guaranty dated as of September 30, 2008, executed by the undersigned in favor of SIRVA Relocation Credit, LLC (the
“Guaranty”). The undersigned (i) consents and agrees to the foregoing Amendment, (ii) confirms that references in the Guaranty to the Receivables Sale Agreement shall be references to such agreement as
amended by the Amendment, and (iii) confirms that the Guaranty is in full force and effect. 
 IN WITNESS WHEREOF, the undersigned have executed this
Acknowledgement and Consent as of the date first above written. 
  

			
	SIRVA WORLDWIDE, INC.
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	SVP - TreasurerEX-10.36

 Exhibit 10.36 

AMENDMENT TO 

RECEIVABLES SALE AGREEMENT 

This AMENDMENT TO RECEIVABLES SALE AGREEMENT dated as of December 31, 2012 (this “Amendment”), is entered into among
SIRVA RELOCATION CREDIT, LLC, as Seller, SIRVA RELOCATION LLC (“SIRVA Relo”) and SIRVA GLOBAL RELOCATION, INC. (“SIRVA Global”), as Servicers and Originators, and WELLS FARGO BANK, NATIONAL ASSOCIATION, ACTING
THROUGH ITS WELLS FARGO BUSINESS CREDIT DIVISION, as Agent (in such capacity, the “Agent”) and as the sole Purchaser. 

RECITALS 
 A. The Seller,
the Servicers, the Purchasers and the Agent are parties to that certain Receivables Sale Agreement, dated as of September 30, 2008, as amended as of January 30, 2009, May 31, 2009, December 23, 2009, March 17,
2011 and September 28, 2012 (the “Receivables Sale Agreement”). 
 B. The parties wish to amend the Receivables Sale
Agreement as hereinafter set forth. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows: 
 1. Certain Defined Terms. Capitalized terms which are used herein without definition
and that are defined in the Receivables Sale Agreement shall have the same meanings herein as in the Receivables Sale Agreement, as amended by this Amendment. 

2. Amendments to Receivables Sale Agreement. 

(a) Section 1.8 of the Receivables Sale Agreement is hereby amended by adding at the end thereof the following new
subsection (i): 
 “(i) Notwithstanding the terms of Section 1.8(b), (c) and (d) and in lieu of the
procedures set forth therein, with the approval of the Agent (which approval may be revoked at any time at the Agent’s sole discretion), 

(A) on each Business Day other than a Weekly Settlement Date, the Seller may withdraw from the Collection Account up to all
Available Funds, provided that the Seller shall immediately pay to the Agent 10% of such amount, to be applied to reduce the Purchasers’ Investments, and 

(B) on each Weekly Settlement Date, (1) the Seller shall pay to the Agent all accrued Discount and fees then due to the
Agent and the Purchasers, (2) if the Aggregate Investment then exceeds the Adjusted Net Receivables Balance, the Seller shall pay such excess to the Agent, to be applied to reduce the Purchasers’ Investments, and (3) if the Adjusted
Net Receivables Balance then exceeds the Aggregate Investment, the Seller may request a funding by the Purchasers of an Incremental Purchase of up to such excess pursuant to Section 1.1(c).” 

  

 (b) Article I of the Receivables Sale Agreement is hereby amended by adding
thereto the following Section 1.12: 
 “Section 1.12. Notice of Non-Extension of Scheduled Termination Date.
If no Termination Event or Potential Termination then exists, each Purchaser agrees to deliver a written notice to the Seller at least 180 days prior to the Scheduled Termination Date if such Purchaser then does not expect to agree to an extension
of the Scheduled Termination Date. The failure of such Purchaser to give such notice, however, shall not result in an automatic extension of the Scheduled Termination Date or give rise to any liability on the part of such Purchaser or any rights of
the Seller against such Purchaser.” 
 (c) Section 3.3 of the Receivables Sale Agreement is hereby amended by
adding the following sentences at the end thereof: 
 “The Master Servicer shall identify and report to the Agent in a
form satisfactory to the Agent all Unbilled Miscellaneous Receivables no later than 20 days after the end of each month. The Master Servicer shall complete modifications to its reporting system to enable it to report Unbilled Miscellaneous
Receivables in its Daily Reports, Weekly Reports and Two Week Reports no later than March 31, 2013.” 
 (d) Clause
(ii) of the last sentence of Sections 5.1(e), 5.2(e) and 5.3(e) of the Receivables Sale Agreement is hereby amended and restated as follows: 

“(ii) thereafter, so long as no Termination Event exists, the Agent shall have four sets of audit and test verifications done in any
calendar year.” 
 (e) Section 5.1(b) of the Receivables Sale Agreement is hereby amended to add thereto the
following clause (vi): 
 “(vi) Sales of Relocation Receivables under other Facilities. Any sale by the Seller of
other receivables relating to relocation services under any facility other than this Agreement.” 
 (f) The following
definitions as set forth in Schedule I to the Receivables Sale Agreement are hereby amended and restated in their respective entireties as follows: 

“Net Receivables Balance” means at any time (a) the Eligible Receivables Balance minus (b) the sum of the following
amounts, as determined without duplication as of the most recent Measurement Date, (i) the portion of the Eligible Receivable Balance in excess of the Concentration Limit for each Employer, (ii) the Unbilled Miscellaneous Receivable Excess
Concentration, (iii) the Canadian Receivable Excess Concentration, (iv) the Winddown Receivable Excess Concentration, (v) the Equity Advance Excess Concentration, (vi) to the extent not included in the Equity

  
 2 

 
Receivable Excess Concentration, the Fixed Fee Equity Advance Excess Concentration, (vii) all unapplied Advance Employer Payments and (viii) the aggregate amount of accrued client
rebate obligations of the Originators to Employers; it being understood that to the extent any of the items being deducted under clause (b) may include Longer Aged Equity/Mortgage Receivables or Aged Equity/Mortgage Receivables, such
Longer Aged Equity/Mortgage Receivables and Aged Equity/Mortgage Receivables shall be included in such deducted items. 
 “Scheduled
Termination Date” means December 31, 2015. 
 “Unbilled Miscellaneous Receivable Excess
Concentration” means at any time greater of (a)(i) the aggregate outstanding principal balance of all Unbilled Miscellaneous Receivables included in the Eligible Receivables minus (ii) 45% of the Eligible Receivables
Balance and (b)(i) the aggregate outstanding principal balance of all Unbilled Miscellaneous Receivables included in the Eligible Receivables, minus (ii) $30,000,000. 

(g) The definition of “Eligible Receivable” in Schedule I to the Receivables Sale Agreement is hereby amended by
renumbering existing clause (xviii) as clause (xxi) and by inserting the following new clauses (xviii), (xix) and (xx): 

“(xviii) such Receivable is not a fee due directly from a broker for the sale of an Origination Home; 

(xix) such Receivable is not a Fixed Fee Equity Receivable of an Employer that was converted to a Billed Receivable with
respect to an Origination Home that has not been resold. The Adjusted Net Receivables balance for Aged Equity/Mortgage Receivables shall continue to apply with respect to any Billed Receivable that was converted from a Fixed Fee Equity Receivable
except that the Outside Date for the converted Billed Receivable shall be the earlier of: (i) the Outside Date for original Fixed Fee Equity Receivable; or, (ii) the Outside Date for a Billed Receivable; 

(xx) such Receivable is not a Receivable that was originally an Unbilled Miscellaneous Receivable that failed to be billed to
the related Employer within 45 days following the date of payment by the related Originator of the item that gave rise to the Receivable; and” 

(h) The following definitions are hereby added to Schedule I to the Receivables Sale Agreement in their respective alphabetical
positions: 
 “Equity Advance Excess Concentration” means at any time the greater of (a)(i) the aggregate
outstanding principal balance of all Equity Advances included in the Eligible Receivables minus (ii) 25% of the Eligible Receivables Balance and (b)(i) the aggregate outstanding principal balance of all Equity Advances included in the Eligible
Receivables minus (ii) $20,000,000. 

  
 3 

 “Fixed Fee Equity Advance Excess Concentration” means at any time the
greater of (a)(i) the aggregate outstanding principal balance of all Fixed Fee Equity Advances included in the Eligible Receivables minus (ii) 10% of the Eligible Receivables Balance and (b)(i) the aggregate outstanding principal balance of all
Fixed Fee Equity Advances included in the Eligible Receivables minus (ii) $8,000,000. 
 “Fixed Fee Equity
Advance” means a Receivable in respect of an Equity Advance arising under a fixed fee program of the applicable Originator under a Relocation Services Agreement. 

3. Representations and Warranties. With respect to the Sale Agreement, the Seller and each Servicer, and with respect to the Purchase
Agreement, the Originators hereby represent and warrant to the Agent and the Purchasers as follows: 
 (i) Representations
and Warranties. The representations and warranties contained in Article IV of the Receivables Sale Agreement and Section 4 of the Purchase Agreement are true and correct as of the date hereof (except to the extent such representations and
warranties relate solely to an earlier date, in which case they are true and correct as of such earlier date). 
 (ii)
Enforceability. The execution and delivery by the Seller and each Servicer of this Amendment, and the performance by the Seller and each Servicer of this Amendment and the Receivables Sale Agreement, as amended hereby (the “Amended
Agreement”), are within the corporate powers of the Seller and each Servicer and have been duly authorized by all necessary corporate or company action on the part of the Seller and each Servicer. This Amendment and the Amended Agreement
are valid and legally binding obligations of the Seller and each Servicer, enforceable in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally or by equitable principles relating to enforceability. 
 (iii) No Potential Termination
Event. No Potential Termination Event that will not be cured by this Amendment becoming effective has occurred and is continuing. 
 4.
Acknowledgment by Originators. Each of SIRVA Relo and SIRVA Global, in its capacity as an Originator, acknowledges and agrees to the terms of this Amendment, including without limitation Section 2 hereof. 

5. Effect of Amendment. Except as expressly amended and modified by this Amendment, all provisions of the Receivables Sale Agreement
shall remain in full force and effect; and the Seller and the Servicers confirm and reaffirm their obligations under the Amended Agreement and the other Transaction Documents. After this Amendment becomes effective, all references in the Receivables
Sale Agreement (or in any other Transaction Document) to “this Agreement”, “hereof”, “herein” or otherwise referring to the Receivables Sale Agreement shall be deemed to be references to the Amended Agreement. This
Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the Receivables Sale Agreement other than as set forth herein. 

  
 4 

 6. Effectiveness. This Amendment shall become effective as of December 31, 2012 (the
“Amendment Effective Date”), provided that the Agent shall have received no later than December 31, 2012 counterparts of this Amendment (whether by facsimile, email transmission or otherwise) executed by the Seller, the
Servicers, the Originators, the Agent and the Purchasers and consented to by Parent. 
 7. Headings; Counterparts. Section Headings
in this Amendment are for reference only and shall not affect the construction of this Amendment. This Amendment may be executed by different parties on any number of counterparts, each of which shall constitute an original and all of which, taken
together, shall constitute one and the same agreement. 
 8. Cumulative Rights and Severability. All rights and remedies of the
Purchasers and Agent hereunder shall be cumulative and non-exclusive of any rights or remedies such Persons have under law or otherwise. Any provision hereof that is prohibited or unenforceable in any jurisdiction shall, in such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and without affecting such provision in any other jurisdiction. 

9. Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws (and not the law of
conflicts) of the State of Illinois. 
 [signature pages begin on next page] 

  
 5 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

  

			
	SIRVA RELOCATION CREDIT, LLC, as Seller
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	President

  

			
	SIRVA RELOCATION LLC, as a Servicer
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

			
	SIRVA GLOBAL RELOCATION, INC., as a Servicer
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  
  

					
		  	S-1	  	Amendment to Receivables Sale Agreement

 The undersigned (i) consent and agree to the foregoing Amendment, (ii) confirm that references in the
Purchase Agreement to the Receivables Sale Agreement shall be references to such agreement as amended by the Amendment, and (iii) confirm that the Purchase Agreement is in full force and effect. 

 

			
	SIRVA RELOCATION LLC, as an Originator
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  

			
	 SIRVA GLOBAL RELOCATION, INC.,
 as
an Originator

		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Treasurer

  
  

					
		  	S-2	  	Amendment to Receivables Sale Agreement

 
			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, ACTING THROUGH ITS WELLS FARGO BUSINESS CREDIT DIVISION,

as Agent and sole Purchaser

		
	By:	 	

	Title:	 	Vice President

  
  

					
		  	S-3	  	Amendment to Receivables Sale Agreement

 ACKNOWLEDGEMENT AND CONSENT 

Reference is made to the Guaranty dated as of September 30, 2008, executed by the undersigned in favor of SIRVA Relocation Credit, LLC
(the “Guaranty”). The undersigned (i) consents and agrees to the foregoing Amendment, (ii) confirms that references in the Guaranty to the Receivables Sale Agreement shall be references to such
agreement as amended by the Amendment, and (iii) confirms that the Guaranty is in full force and effect. 
 IN WITNESS WHEREOF, the
undersigned have executed this Acknowledgement and Consent as of the date first above written. 
  

			
	SIRVA WORLDWIDE, INC.
		
	By:	 	/s/ Douglas V. Gathany
	Title:	 	Senior Vice President - Treasurer

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