Document:

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

 Exhibit 10.13 
 AMENDMENT NO.2 TO LOAN AGREEMENT 
 THIS AMENDMENT NO.2 TO SECOND AMENDED
AND RESTATED LOAN AND SECURITY AGREEMENT dated as of December 21, 2012 (this “Amendment”), is among NICHOLAS FINANCIAL, INC., a Florida corporation (the “Borrower”), BANK OF AMERICA, N.A., in its capacity as agent (in
such capacity, the “Agent”), and each of the Lenders party hereto. 
 RECITALS: 

A. The Borrower, the lenders from time to time party thereto (collectively, the “Lenders”) and the Agent have entered
into a Second Amended and Restated Loan and Security Agreement dated as of January 12, 201 0 (as heretofore modified, supplemented or amended, the “Loan Agreement”). Capitalized terms used and not otherwise defined herein shall
have the meanings ascribed to them in the Loan Agreement. 
 B. The Borrower has requested that the Agent and the Lenders amend
certain provisions of the Loan Agreement. 
 C. Subject to the terms and conditions set forth below, the Agent and the Lenders
party hereto are willing to so amend the Loan Agreement. 
 In furtherance of the foregoing, the parties agree as follows:

 Section 1. AMENDMENTS.   Subject to the covenants, terms and conditions set forth herein and in
reliance upon the representations and warranties set forth herein, the Loan Agreement is amended as follows: 
 (a) The existing
definitions of “Stated Termination Date” in Section 1.2 is deleted in its entirety and the following definition is inserted in lieu thereof: 
 “Stated Termination Date” means November 30, 2014 
 (b) The
last sentence of Section 4.2 is deleted in its entirety and the following is inserted in lieu thereof: 
 If this
Agreement is terminated at any time prior to the Stated Termination Date, whether pursuant to this Section or pursuant to Section 11.2, the Borrower shall pay to the Agent, for the account of the Lenders, an early termination fee equal
to (i) one half of one percent (0.5%) of the Maximum Revolver Amount if such termination occurs within the second year prior to the Stated Termination Date, or (ii) one quarter of one percent (0.25%) of the Maximum Revolver Amount if such
termination occurs within the year prior to the Stated Termination Date. 

 (c) The existing Section 9.6 is deleted in its entirety and the following is
inserted in lieu thereof: 
 9.6 Distributions and Capital Change. The Borrower shall not
(a) directly or indirectly declare or make or incur any liability to make any Distribution or (b) make any change to its capital structure, except, so long as no Default or Event of Default then exists or would occur as a result of any of
the following, the Borrower may (i) declare or pay cash dividends to its stockholders and purchase, redeem or otherwise acquire for cash the capital stock (or any options or warrants for such stock) of the Borrower if after giving effect
thereto (A) the aggregate amount of such dividends, purchases, redemptions and acquisitions paid or made during a fiscal quarter would be less than 50% of the Borrower’s Adjusted Net Earnings from Operations for the fiscal quarter
immediately preceding the fiscal quarter in which such dividend, purchase, redemption or acquisition is paid or made, (B) the aggregate amount of such dividends, purchases, redemptions and acquisitions paid or made during the immediately
preceding four fiscal-quarter period would be less than 50% of the Borrower’s Adjusted Net Earnings from Operations for such period, and (C) Adjusted Availability exceeds 20% of the Aggregate Revolver Outstandings as of the date of such
Distribution, after giving effect to any Revolving Loans and Pending Revolving Loans made or requested on such date, and (ii) declare and pay a one-time cash dividend to its stockholders of $2.00 per share in December 2012. 

The amendments to the Loan Agreement are limited to the extent specifically set forth above and no other terms, covenants or provisions of the Loan
Agreement are intended to be affected hereby. 
 Section 2. CONDITIONS PRECEDENT. The parties hereto agree that the
amendments set forth in Section 1 above shall not be effective until the satisfaction of each of the following conditions precedent: 
 (a) Documentation. The Agent shall have received (i) a counterpart of this Amendment, duly executed and delivered by the Borrower and all of the Lenders then party to the Loan Agreement, and
(ii) such other documents and certificates as the Agent or its counsel may reasonably request relating to the organization, existence and good standing of the Borrower, the authorization of this Amendment and any other legal matters relating to
the Borrower or the transactions contemplated hereby. 
 (b) Fees and Expenses. All fees and expenses of counsel to the
Agent estimated to date shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses). 

  
 2 

 Section 3. REPRESENTATIONS AND WARRANTIES. 

(a) In order to induce the Agent and the Lenders to enter into this Amendment, the Borrower represents and warrants to the Agent and the
Lenders as follows: 
 (i) The representations and warranties made by the Borrower in Article 8 of the
Loan Agreement are true and correct on and as of the date hereof, except to the extent that such representations and warranties expressly relate to an earlier date in which case such representations and warranties are true and correct on and as of
such earlier date. 
 (ii) Since the date of the Financial Statements delivered to the Lenders, no material
adverse change has occurred in the Borrower’s property, business, operations or conditions (financial or otherwise). 
 (iii) No Default or Event of Default has occurred and is continuing or will exist after giving effect to this Amendment. 
 (b) In order to induce the Agent and the Lenders to enter into this Amendment, the Borrower represents and warrants to the Agent and the Lenders that this Amendment has been duly authorized, executed and
delivered by it and constitutes its legal, valid and binding obligation. 
 Section 4. MISCELLANEOUS 

(a) Ratification and Confirmation of Loan Documents.   The Borrower hereby consents, acknowledges and agrees to the
amendments set forth herein and hereby confirms and ratifies in all respects the Loan Documents to which the Borrower is a party. 
 (b) Fees and Expenses.   The Borrower shall pay on demand all reasonable costs and expenses of the Agent in connection with the preparation, reproduction, execution, and delivery of this
Amendment and any other documents prepared in connection herewith, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Agent. 
 (c) Headings.   Section and subsection headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other
purpose or be given any substantive effect. 
 (d) Governing Law; Waiver of Jury Trial.   This Amendment shall
be governed by and construed in accordance with the laws of the State of New York, and shall be further subject to the provisions of Sections 15.3 and 15.4 of the Loan Agreement. 

(e) Counterparts.   This Amendment may be executed in any number of counterparts, each of which when executed and
delivered shall be deemed to be an original, and all of which when taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or electronic transmission
(including .pdf file) shall be effective as delivery of a manually executed counterpart hereof. 
 (f) Entire Agreement.
This Amendment, together with all the Loan Documents (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of 

  
 3 

 
the parties hereto in relation to the subject matter hereof and supersedes ally prior negotiations and agreements among the parties relating to such subject matter. No promise, condition.
representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges
that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other. None of the terms or conditions of this Amendment may be changed,
modified, waived or canceled orally or otherwise except in a writing signed by the Agent for such purpose. 
 (g)
Enforceability.   Should any one or more of the provisions of this Amendment be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on
the parties hereto. 
 (h) Successors and Assigns.   This Amendment shall be binding upon and inure to the
benefit of the Borrower, the Agent, each Lender and their respective successors and assigns (subject to Section 13.2 of the Loan Agreement). 
 [Remainder of Page Intentionally Left Blank; Signature Pages Follow] 

  
 4 

 The following parties have caused this Amendment No, 2 to Loan Agreement to be executed as
of’ the date first written above. 
  

			
	“BORROWER”
	Nicholas Financial, Inc.
		
	By	 	    

		 	  

	Title:	 	    

	
	“AGENT”
	
	Bank of America, N.A., as the Agent
		
	By	 	  

		 	                             
               , Vice President
	
	“LENDERS”
	
	Bank of America, N.A., as a Lender
		
	By	 	  

		 	                             
               , Vice President
	
	Capital One, N.A., as a Lender
	By:	 	  

		
		 	                             
               , Vice President
	
	First Tennessee Bank National Association, as a Lender
	By:	 	  

		
		 	                             
               , Vice President
	
	BMO Harris Bank, N.A., as successor to Harris N.A., as a Lender
	By:	 	  

		
		 	                             
               , Vice President
	
	Wells Fargo Preferred Capital, Inc., as a Lender
	By:	 	  

		
		 	                             
               , Senior Vice President

  
 Signature
Page to Amendment No. 2 to 
 Loan Agreement 

 The following parties have caused this Amendment No. 2 to Loan Agreement to be executed
as of the date first written above. 
  

			
	“BORROWER”
	Nicholas Financial. Inc.
		
	 By
	 	  

	 Title:
	 	  

	
	“AGENT”
	
	Bank of America, N,A., as the Agent
		
	 By
	 	

		 	  

		 	

, Vice President
	
	“LENDERS”
	
	Bank of America, N.A., as a Lender
		
	 By
	 	

		 	  

		 	
		 	

Vice President
	
	Capital One, N.A., as a Lender
	 By:
	 	  

		 	                             
       , Vice President
	
	First Tennessee Bank National Association, as a Lender
	 By:
	 	  

		 	                             
       , Vice President
	
	BMO Harris Bank, N.A., as successor to Harris N.A., as a Lender
	 By:
	 	  

		 	                             
       , Vice President
	
	 WeIls Fargo Preferred Capital, Inc., as a Lender

	 By:
	 	  

		 	                             
       , Senior Vice President

  
 Signature
Page to Amendment No. 2 to 
 Loan Agreement 

 The following parties have caused this Amendment No. 2 to Loan Agreement to be executed
as of the date first written above. 
  

			
	“BORROWER”
	Nicholas Financial, Inc.
		
	By	 	  

	Title:	 	  

	
	“AGENT”
	
	Bank of America, N.A., as the Agent
		
	By	 	  

		 	                             
               ,Vice President
	
	“LENDERS”
	
	Bank of America, N.A., as a Lender
		
	By	 	  

		 	                             
               , Vice President
	
	Capital One N.A., as a Lender
	By:	 	

		 	  

		 	                    

, Vice President
	
	First Tennessee Bank National Association, as a Lender
	By:	 	  

		 	                             
               , Vice President
	
	BMO Harris Bank, N.A., as successor to Harris N.A., as a Lender
	By:	 	  

		 	                             
               , Vice President
	
	Wells Fargo Preferred Capital, Inc., as a Lender
	By:	 	  

		 	                             
               , Senior Vice President

  
 Signature
Page to Amendment No. 2 to 
 Loan Agreement 

 The following parties have caused this Amendment No. 2 to Loan Agreement to be executed
as of the date first written above. 
  

			
	“BORROWER”
	Nicholas Financial, Inc.
		
	By	 	  

	Title:	 	  

	
	“AGENT”
	
	Bank of America, N.A., as the Agent
		
	By	 	              

		 	                             
               , Vice President
	
	“LENDERS”
	
	Bank of America, N.A., as a Lender
		
	By	 	  

		 	                             
               , Vice President
	
	Capital One, N.A., as a Lender
	By:	 	              

		 	                             
               , Vice President
	
	First Tennessee Bank National Association, as a Lender
	By:	 	

		 	  

		 	

, Vice President
	
	BMO Harris Bank, N.A., as successor to Harris N.A., as a Lender
	By:	 	  

		 	                             
               , Vice President
	
	Wells Fargo Preferred Capital, Inc., as a Lender
	By:	 	  

		 	                             
               , Senior Vice President

  
 Signature
Page to Amendment No. 2 to 
 Loan Agreement 

 The following parties have caused this Amendment No. 2 to Loan Agreement to be executed
as of the date first written above. 
  

			
	 “BORROWER”

	 Nicholas Financial, Inc.

		
	By	 	  

	Title:	 	  

	
	 “AGENT”

	
	 Bank of America, N.A., as the Agent

		
	By	 	  

		 	
                        
                        ,Vice President

	
	 “LENDERS”

	
	 Bank of America, N.A., as a Lender

		
	By	 	  

		 	
                        
                        ,Vice President

	
	 Capital One, N.A., as a Lender

	By:	 	  

		 	
                        
                        ,Vice President

	
	First Tennessee Bank National Association, as a Lender
	By:	 	  

		 	
                        
                        , Vice President

	
	BMO Harris Bank, N.A., as successor to Harris N.A., as a Lender
	By:	 	

		 	  

		 	
                        
                        , Vice President

	
	 Wells Fargo Preferred Capital, Inc., as a Lender

	By:	 	              

		 	
                        
            , Senior Vice President

  
 Signature
Page to Amendment No. 2 to 
 Loan Agreement 

 The following parties have caused this Amendment No. 2 to Loan Agreement to be executed
as of the date first written above. 
  

			
	 “BORROWER”

	 Nicholas Financial, Inc.

		
	 By
	 	  

	 Title:
	 	  

	
	 “AGENT”

	
	 Bank of America, N.A., as the Agent

		
	 By
	 	  

		 	                             
                   , Vice President
	
	 “LENDERS”

	
	 Bank of America, N.A., as a Lender

		
	 By
	 	  

		 	                            
                    , Vice President
	
	 Capital One, N.A., as a Lender

	 By:
	 	  

		 	                             
                   , Vice President
	
	First Tennessee Bank National Association, as a Lender
	By:	 	  

		 	                             
                   , Vice President
	
	BMO Harris Bank, N.A., as successor to Harris N.A., as a Lender
	 By:
	 	  

		 	                             
                   , Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION (successor by merger to Wells
	 Fargo Preferred Capital, Inc, as a Lender

	By:	 	

		 	  

		 	

, Senior Vice President

  
 Signature
Page to Amendment No. 2 to 
 Loan AgreementLetter Agreement, dated June 4, 2012, and effective June 13, 2012,

 Exhibit 10.15 

 
 

 
  

					
	To:	  	Nicholas Financial, Inc.	  	
		  	 2454 McMullen Booth Rd

Bldg. C, #501-B
	  	
		  	Clearwater, FL 33759	  	
	Attn:	  	Ralph Finkenbrink	  	
	Telephone:	  	727-726-0763	  	
	Fax:	  	727-726-2140	  	
			
	From:	  	Bank of America, N.A.	  	
		  	 200 N College Street

Charlotte
	  	
		  	 North Carolina 28255-0001

U.S.A.
	  	
	Department:	  	Swaps Operations	  	
	Telephone:	  	(+1) 980 683 2797	  	
	Fax:	  	(+1) 866 255 1444	  	
			
	Date:	  	4th June 2012	  	
			
	Our Reference No:	  	60453386	  	
	Reference Name:	  	David Ott	  	
	Internal Tracking No:	  	60453386	  	
	Admin No:	  	12BN95414	  	

 Dear Sir/Madam, 

The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between Nicholas Financial, Inc. and Bank of
America, N.A. (each a “party” and together “the parties”) on the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement
specified below (the “Agreement”). 
 The definitions and provisions contained in the 2006 ISDA Definitions, as published by the
International Swaps and Derivatives Association, Inc., (the “Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern. 

This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of 30th March 1999, as amended and supplemented
from time to time, between the parties. All provisions contained in the Agreement govern this Confirmation except as expressly modified below. 

In this Confirmation “Party A” means Bank of America, N.A. and “Party B” means Nicholas Financial, Inc., 

 
 

 

  
 1 

 General Terms: 
 The terms of the particular Transaction to which this Confirmation relates are as follows: 
  

			
	 Notional Amount:
	 	USD 25,000,000.00
		
	 Trade Date:
	 	1st June 2012
		
	 Effective Date:
	 	13th June 2012
		
	 Termination Date:
	 	 13th June 2017, subject to adjustment in accordance with the
 Modified Following Business Day Convention

		
	 Fixed Amounts:
	 	
		
	 Fixed Rate Payer:
	 	Party B
		
	 Fixed Rate Payer
	 	
	 Payment Dates:
	 	The 13th of each Month, commencing on 13th July 2012 and ending on the Termination Date, subject to adjustment in accordance with the Modified Following Business Day
Convention
		
	 Fixed Rate:
	 	1.00000 per cent
		
	 Fixed Rate Day
	 	
	 Count Fraction:
	 	Actual/360
		
	 Floating Amounts:
	 	
		
	 Floating Rate Payer:
	 	Party A
		
	 Floating Rate Payer
	 	
	 Payment Dates:
	 	The 13th of each Month, commencing on 13th July 2012 and ending on the Termination Date, subject to adjustment in accordance with the Modified Following Business Day
Convention

  
 

 

  
 2 

			
	 Floating Rate for initial
	 	
	 Calculation Period:
	 	to be determined
		
	 Floating Rate Option:
	 	USD-LIBOR-BBA
		
	 Designated Maturity:
	 	1 Month
		
	 Spread:
	 	None
		
	 Floating Rate Day
	 	
	 Count Fraction:
	 	Actual/360
		
	 Reset Dates:
	 	First day of each Calculation Period
		
	 Business Days:
	 	London and New York
		
	 Calculation Agent:
	 	Party A

 Recording of Conversations: 

Each party to this Transaction acknowledges and agrees to the recording of conversations between trading and marketing personnel of the
parties to this Transaction whether by one or other or both of the parties or their agents. 
 Account Details:

 As advised under separate cover with reference to this Confirmation, each party shall provide appropriate payment
instructions to the other party in writing and such instructions shall be deemed to be incorporated into this Confirmation. 
  

					
	 Offices:
	  		  	
			
	 The Office of Party A for this

Transaction is:
	  	 Charlotte - NC, United States

Please send reset notices to fax no. (+1) 866 218 8487
	  	
			
	 The Office of Party B for this

Transaction is:
	  	Clearwater - FL, United States	  	

  
 

 

  
 3 

 Please confirm that the foregoing correctly sets forth the terms and conditions of our
agreement by returning via telecopier an executed copy of this Confirmation in its entirety to the attention of Global FX and Derivative Operations (fax no.(+l) 866 255 1444). 

 

			
	Bank of America, N.A.	 	 Accepted and confirmed as of the date first written:
 Nicholas Financial, Inc.

  

					
		  	 /s/ Katherine A. Andrews
	  	
		  	Katherine A. Andrews	  	
		  	Managing Director, Sr. Group Operations Manager	  	

  

							
	Authorised Signatory	 		 	By:	 	 /s/ Ralph Finkenbrink

		 		 	Name:	 	Ralph Finkenbrink
		 		 	Title:	 	SVP & CFO

 Our Reference Number:
                60453386 
  
 

 

  
 4

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