Document:

Exhibit 10.35

 

THIRTY THIRD AMENDMENT

TO

SECURED SENIOR LENDING AGREEMENT

 

BY AND BETWEEN

 

PIONEER FINANCIAL SERVICES, INC., PIONEER SERVICES SALES FINANCE, INC., PIONEER FUNDING, INC., PSLF, INC. AND SUBSIDIARIES
 (COLLECTIVELY, THE “BORROWERS”)

 

AND

 

UMB BANK, N.A., ARVEST BANK, COMMERCE BANK, N.A., FIRST BANK, TEXAS CAPITAL BANK, N.A., BMO HARRIS BANK N.A., FIRST CITIZENS BANK, BANCFIRST, CITIZENS BANK & TRUST, ENTERPRISE BANK AND 
 TRUST, STIFEL BANK & TRUST, SUNFLOWER BANK, N.A., BANK OF 
 BLUE VALLEY, ONB BANK AND TRUST COMPANY AND

WM. D. SULLIVAN FAMILY INVESTMENT GROUP, LLC 
 (COLLECTIVELY, THE “VOTING BANKS”)

 

AND

 

 PARKSIDE FINANCIAL BANK & TRUST, CROSSFIRST BANK, PAGE COUNTY STATE BANK, CROSSFIRST BANK LEAWOOD, PEOPLES COMMUNITY 
 STATE BANK, FIRST STATE BANK & TRUST CO. OF LARNED, UNITED 
 BANK OF KANSAS, MACON ATLANTA STATE BANK, PEOPLES 
 COMMUNITY BANK, BLUE RIDGE BANK AND TRUST CO., FIRST 
 COMMUNITY BANK, GUARANTY BANK, ALTERRA BANK, FIRST 
 FEDERAL SAVINGS BANK OF CRESTON FSB, HAWTHORN BANK, 
 LYON COUNTY STATE BANK, AND CARROLLTON BANK
 (COLLECTIVELY, THE “NON-VOTING BANKS”)

 

AND

 

UMB BANK, N.A. (“AGENT”)

 

DATED AS OF DECEMBER 12, 2011

 

Amendment #33

 

 

THIRTY THIRD AMENDMENT TO SECURED SENIOR LENDING AGREEMENT

 

This Thirty Third Amendment to Secured Senior Lending Agreement (the “Amendment”) is made and is effective as of this 12th day of December, 2011 (the “Effective Date”) by and between the following parties:

 

1.                                      Pioneer Financial Services, Inc., a Missouri corporation (hereinafter referred to as (“Pioneer”), Pioneer Services Sales Finance, Inc., a Nevada corporation (“Sales Finance”), Pioneer Funding, Inc., a Nevada corporation (“Funding”), and PSLF, Inc., a Missouri corporation (“PSLF”).  All of Pioneer, Sales Finance, Funding, and PSLF, each being referred to individually as a “Borrower” and collectively as the “Borrowers”) ;

 

2.                                      UMB Bank, N.A., a national banking association (“UMB”), Arvest Bank, an Oklahoma banking corporation (“Arvest”), Commerce Bank, N.A., a national banking association (“Commerce”), First Bank, a Missouri banking corporation (“FBM”), Texas Capital Bank, N.A., a national banking association (“Texas”), BMO Harris Bank N.A. (“BMO Harris”), First Citizens Bank, a Kentucky banking corporation (“First Citizens”) BancFirst, an Oklahoma banking corporation (“BF”), Citizens Bank and Trust, a Missouri corporation (“Citizens”), Enterprise Bank and Trust, a Missouri Charter Trust Company (“Enterprise”), and Stifel Bank & Trust, a Missouri banking corporation (“Stifel”), Sunflower Bank, N.A., a national banking association (“Sunflower”), Bank of Blue Valley, a Kansas banking corporation (“Blue Valley”) ONB Bank and Trust Company, an Oklahoma corporation (“ONB”) and Wm. D. Sullivan Family Investment Group, LLC, a Nevada limited liability company (“Sullivan Investment”), (all of UMB, Arvest, Commerce, FBM, Texas, BMO Harris, First Citizens, BF, Citizens, Enterprise, Stifel, Sunflower, Blue Valley, ONB and Sullivan Investment being hereinafter referred to individually as a “Voting Bank” and collectively as the “Voting Banks”);

 

 

3.                                      Parkside Financial Bank & Trust, a Missouri corporation (“Parkside”), CrossFirst Bank, a national banking association (“CrossFirst”), Page County State Bank, a Missouri banking corporation (“Page”), CrossFirst Bank Leawood, a Kansas banking corporation (“CrossFirst-Leawood”), Peoples Community State Bank, a Missouri banking corporation (“Peoples State”), First State Bank & Trust Co. of Larned, a Kansas banking corporation (“First State-Larned”), United Bank of Kansas, a Kansas banking corporation (“United”), Macon Atlanta State Bank, a Missouri banking corporation (“Macon”), Peoples Community Bank, a Missouri banking corporation (“Peoples Community”), Blue Ridge Bank and Trust Co., a Missouri banking corporation (“Blue Ridge”), First Community Bank, a Missouri banking corporation (“First Community”), Guaranty Bank, a Missouri banking corporation (“Guaranty”), Alterra Bank, a Kansas banking corporation (“Alterra”), First Federal Savings Bank of Creston FSB, an Iowa corporation (“Creston”), Hawthorn Bank, a Missouri banking corporation (“Hawthorn”), Lyon County State Bank, a Kansas banking corporation (“Lyon”), and Carrollton Bank, an Illinois corporation (“Carrollton”) (all of Parkside, CrossFirst, Page, CrossFirst-Leawood, Peoples-State, First State-Larned, United, Macon, Peoples Community, Blue Ridge, First Community, Guaranty, Alterra, Creston, Hawthorn, Lyon, and Carrollton, each being hereinafter referred to individually as a “Non-Voting Bank” and collectively as the “Non-Voting Banks”); and

 

4.                                      UMB is also hereinafter also sometimes referred to as “Agent” when it acts in its capacity as Agent for the Banks.

 

WHEREAS, Pioneer, Agent and certain of the Voting Banks entered into a Secured Senior Lending Agreement among themselves originally dated as of June 12, 2009 which has subsequently been amended by various amendments numbered 1 through 32 which modified certain of the terms and added additional Voting Banks and Non-Voting Banks (collectively “Banks”) (hereinafter referred to, as previously amended, as the “Agreement”); and

 

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WHEREAS, Pioneer, the other Borrowers, Agent and each of the Banks desire to further amend the Agreement by this Amendment so as to permit PSLF and other Borrowers, as needed, to obtain the various Lending License Bonds (as defined herein) that are needed in order to obtain a Lending License (as defined herein) and be an authorized lender in certain states, including but not limited to the States of Kansas, Oklahoma, Colorado and Iowa, for purposes of satisfying certain state regulatory and Licensing Requirements (as defined herein) now applicable to PSLF due to the transfer of certain Legacy Loans to PSLF in order to comply with certain Regulatory Requirements imposed by the Dodd-Frank Act or any other state or federal requirements; and

 

WHEREAS, Borrowers represent that such Licensing Requirements are mandatory conditions for PSLF to be able to hold the Legacy Loans transferred, and to be transferred, to it and to operate as a licensed lender in various states; and

 

WHEREAS, Pioneer, PSLF and the other Borrowers hereby confirm that all notes, documents evidencing or confirming the grant of liens and security interests and all other related documents executed pursuant to the Agreement, except as otherwise expressly amended by this Agreement, remain in full force and effect; and

 

WHEREAS, this Agreement may be amended in the manner described in this Amendment upon the approval of the Voting Banks and without the approval of the Non-Voting Banks; and

 

WHEREAS, Pioneer, PSLF, the other Borrowers, Agent and the Banks desire that all existing and future extensions of credit by any of the Banks to the Borrowers be subject to the terms and conditions of this Agreement as amended by this Amendment.

 

NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows:

 

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SECTION 1

CHANGES TO CERTAIN DEFINITIONS

 

When used in this Agreement, all terms defined in the Agreement, upon execution of this Amendment, shall have the same meanings in this Amendment as given to such terms in the Agreement except the following words, terms or names shall have the meanings set forth in this section:

 

“Lending License” means any and all licenses which PSLF, or any other Borrower, is required to have by any one or more states or the federal government in order for such Borrower to legally operate its lending business within, or lend to consumers or businesses located within, the territorial limits of such states.

 

“Lending License Bond” means any surety, payment, performance or other bond, obligation, guaranty or undertaking required by any state or federal regulatory agency or instrumentality in order to obtain a Lending License permitting one to be located within, or to operate a business that lends money, buys or sells loans or originates loans to business or consumers located within, its territorial borders.

 

“Licensing Requirements” means any regulations or licensing requirements promulgated by any state or federal regulatory authority which governs or restricts lenders such as the Borrowers or imposes regulations on those who make loans or other financial accommodations to consumers or businesses that obligates such lenders to obtain a Lending License and/or a Lending License Bond.

 

SECTION 2

 

ADDITIONS, CONSENTS, WAIVERS, AND APPROVALS

 

(1)                                 The defined terms “Lending License”, “Lending License Bond” and “Licensing Requirements” are hereby added to Section 1 entitled “Definitions” of the Agreement.

 

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(2)                                 Lending License Bonds permitted under Section 7.3 of the Agreement will henceforth be deemed to be included within these items described in Section (iii) of the definition of “Permitted Liens” that may be secured by a Lien.

 

(3)                                 The following Lending License Bonds now being required by the states of Kansas, Oklahoma, Colorado and Iowa are hereby approved:

 

	
STATE
    	
 
    	
AMOUNT
    	
 
    
	
Kansas
    	
 
    	
$
    	
100,000
    	
 
    
	
Oklahoma
    	
 
    	
$
    	
100,000
    	
 
    
	
Colorado
    	
 
    	
$
    	
25,000
    	
 
    
	
Iowa
    	
 
    	
$
    	
25,000
    	
 
    

 

(4)                                 Future Lending License Bonds other than those specifically approved in Section 3 above are also hereby approved provided that for each additional Lending License Bond all of the following conditions are met:  (a) such Lending License Bond is a condition to PSLF or one of other Borrowers obtaining a Lending License in a particular state in order to satisfy such state’s Licensing Requirements, (b) with the addition of such Lending License Bond, the aggregate amount of all such Lending License Bonds for the Borrowers does not exceed $250,000 in any particular state, and (c) with the addition of such Lending License Bond, the aggregate amount of all Lending License Bonds of the Borrowers does not exceed $1,500,000 in the aggregate at any one time.  Any Lending License Bond which does not meet all of the requirements set forth in this Section will require the prior approval of the Required Banks.

 

(5)                                 The Lending License Bonds permitted under the terms of this Amendment shall be authorized under Section 5.12 of the Agreement and shall be added to Exhibit S of the Agreement.  A new Exhibit S-1 is attached hereto.

 

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(6)                                 The purpose of the Borrowers obtaining the Lending License Bonds and the Lending Licenses is, among other reasons, to comply with Section 6.8 of the Agreement.

 

(7)                                 Section 7.3 “Permitted Indebtedness” shall be deleted in its entirety and shall be replaced with the following:

 

“7.3                         Permitted Indebtedness.  No Subsidiary will incur, create or permit to exist indebtedness to any person or entity other than Pioneer and the Banks except only the following permitted indebtedness incurred in the ordinary course of each of such Subsidiary’s respective business (the “Permitted Indebtedness”) (i) current trade payables not more than ninety (90) days past due, (ii) lease obligations for real estate, fixtures and equipment, (iii) purchase money obligations for capital expenditures, and (iv) Lending License Bonds permitted under this Agreement.  The aggregate amount of all such Subsidiary Permitted Indebtedness, excluding real property lease obligations for each Subsidiary, shall not exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate for all Subsidiaries at any time, provided, however, that the Lending License Bonds permitted hereunder shall not be included in the $250,000 aggregate limitation for Subsidiaries.  Pioneer will not incur, create or permit to exist indebtedness to any Person other than the Banks except only the following permitted indebtedness incurred in the ordinary course of Pioneer’s business (the “Pioneer Permitted Indebtedness”) (i) current trade payables not more than ninety (90) days past due, (ii) lease obligations for real estate, fixtures and equipment, (iii) purchase money obligations for capital expenditures, and (iv) Lending License Bonds permitted under this Agreement.  The aggregate

 

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amount of all such Pioneer Permitted Indebtedness, excluding real property lease obligations, shall not exceed Five Hundred Thousand Dollars ($500,000) in the aggregate for Pioneer at any time,” provided, however, that the Lending License Bonds permitted hereunder shall not be included in the $500,000 aggregate limitation for Pioneer.

 

(8)                                 Section 7.4 “Redemption/Guarantees/Advances/Issuance of Stock/Dividend” shall be deleted in its entirety and shall be replaced with the following:

 

“7.4.                      Redemptions/Guarantees/Advances/Issuance of Stock/Dividends.  The Borrowers will not (i) without the prior written consent of the Required Banks, make any distribution of assets to MCFC except (a) payments of dividends declared in the ordinary course of business which do not create the occurrence of an Event of Default hereunder and are in compliance with the following limitations as of the date of payment of any such dividends: (x) no dividends, cash or non-cash, may be paid if the Senior Debt/Net Receivable Ratio is eighty percent (80%) or more; (y) if the Senior Debt/Net Receivable Ratio is less than seventy-seven and one-half percent (77.5%) cash dividends, subject to the fifty percent (50%) limitation set forth in Section 6.15(ii) hereof may be paid; and (z) if the Senior Debt/Net Receivable Ratio is seventy-seven and one-half percent (77.5%) or more but less than eighty percent (80%), dividends may only be paid, subject to the fifty percent (50%) limitation set forth in Section 6.15(ii) hereof, and which are, immediately upon payment thereof, loaned to Pioneer as Subordinated Debt; and (b) payments of interest on Subordinated Debt payable to MCFC prior to the declaration of an Event of Default by the Agent nor will they purchase,

 

8

 

redeem, retire or otherwise acquire any shares of their equity interests or issue any shares of their equity interests, or (ii) authorize or make any other distribution to any stockholder, equity owner, subsidiary, affiliate or Person of any of the assets or business of the Borrowers.  The Borrowers will not directly or indirectly make any capital contribution to or purchase, redeem, acquire or retire any of the equity interests of the Borrowers or any subsidiary of any Borrower (whether such interests are now or hereafter issued, outstanding or created.  No Borrower will (iii) enter into any management agreement with any other Borrower or affiliate, or (iv) make or guarantee any loan or advance to any Person except to another Borrower in an amount not exceeding Fifty Thousand Dollars ($50,000) in the aggregate except for reasonable compensation for services performed or expenses incurred in the ordinary course of the Borrowers’ business, provided however, that the Borrowers may guaranty, loan, act as a surety or otherwise take steps or incur obligations necessary to assist another Borrower in obtaining a Lending License Bond permitted under this Agreement.  The $50,000 aggregate limit shall not apply to Lending License Bonds permitted hereunder.”

 

SECTION 3

REAFFIRMATION OF REMAINDER OF AGREEMENT

 

All provisions of the Agreement except for those sections specifically modified or added as described herein shall remain unchanged and in full force and effect.

 

9

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

	
PIONEER FINANCIAL SERVICES, INC.
    	
 
    	
PIONEER   FUNDING, INC.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Laura   V. Stack
    	
 
    	
Name:
    	
Laura   V. Stack
    
	
Title:
    	
Treasurer
    	
 
    	
Title:
    	
Secretary   and Treasurer
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
PSLF, INC.
    	
 
    	
PIONEER   SERVICES SALES FINANCE, INC.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Laura   V. Stack
    	
 
    	
Name:
    	
Laura   V. Stack
    
	
Title:
    	
Treasurer
    	
 
    	
Title:
    	
Secretary   and Treasurer
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
FIRST BANK
    	
 
    	
ARVEST   BANK
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Stephen   Sainz
    	
 
    	
Name:
    	
Cindy   Nunley
    
	
Title:
    	
Executive   Vice-President
    	
 
    	
Title:
    	
Senior   Vice-President
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
BANCFIRST
    	
 
    	
FIRST   CITIZENS BANK
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Mark   C. Demos
    	
 
    	
Name:
    	
Scott   T. Conway
    
	
Title:
    	
Senior   Vice-President
    	
 
    	
Title:
    	
Chief   Executive Officer
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
UMB BANK, N.A., as a Bank and as Agent
    	
 
    	
BMO   HARRIS BANK N.A.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Douglas   F. Page
    	
 
    	
Name:
    	
Adam   Mander
    
	
Title:
    	
Executive   Vice-President
    	
 
    	
Title:
    	
Officer
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
CITIZENS BANK & TRUST
    	
 
    	
COMMERCE   BANK, N.A.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Kelley   Wilcox
    	
 
    	
Name:
    	
David   Enslen
    
	
Title:
    	
Senior   Vice President, Commercial Banking
    	
 
    	
Title:
    	
Senior   Vice-President
    

 

10

 

	
TEXAS CAPITAL BANK, N.A.
    	
 
    	
ENTERPRISE   BANK AND TRUST
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Reed   Allton
    	
 
    	
Name:
    	
Linda   Hanson
    
	
Title:
    	
Executive   Vice President
    	
 
    	
Title:
    	
Regional   President, Kansas City
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
BANK OF BLUE VALLEY
    	
 
    	
STIFEL   BANK & TRUST
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Kevin   Klamm
    	
 
    	
Name:   
    	
John   Haffenreffer
    
	
Title:
    	
Commercial   Loan Officer
    	
 
    	
Title:   
    	
President
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ONB BANK AND TRUST COMPANY
    	
 
    	
SUNFLOWER   BANK, N.A.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
Name:
    	
Matt   Adams
    	
 
    	
Name:
    	
David   Rambo
    
	
Title:
    	
Senior   Vice President, Commercial Loan Officer
    	
 
    	
Title:
    	
President   - Kansas City
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
WM.   D. SULLIVAN FAMILY INVESTMENT GROUP, LLC
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Name:
    	
William   Sullivan
    
	
 
    	
 
    	
 
    	
Title
    	
Manager
    

 

11

 

EXHIBIT S-1

 

[ADD THE LISTING OF LENDING LICENSE BONDS TO CURRENT EXHIBIT S]

 

12Exhibit 10.36

 

FORM OF AMENDMENT TO
 SENIOR LENDING AGREEMENT TO
 ADD BANKS OR OTHER FINANCIAL INSTITUTIONS

 

Amendment No. 34 to Senior Lending Agreement

 

This Amendment to that certain Secured Senior Lending Agreement dated as of June 12, 2009, as amended, a copy of which is attached hereto (hereinafter referred to as the “Senior Lending Agreement”) is made as of December 29, 2011, by and between all banks or other financial institutions which are, as of the date hereof, parties to such Senior Lending Agreement (“Banks”); Pioneer Financial Services, Inc. (hereinafter referred to as “Pioneer”), certain of its Subsidiaries and The PrivateBank and Trust Company with offices located at 120 S. LaSalle Street, Chicago, Illinois 60603 (hereinafter referred to as “New Bank”) all initially capitalized terms not defined in this Amendment will have the same meanings herein as in the Senior Lending Agreement.

 

WHEREAS, Pioneer has requested New Bank to extend credit to it and New Bank is willing to extend such credit; and

 

WHEREAS, Pioneer is prohibited from receiving credit from New Bank unless New Bank becomes a party to the Senior Lending Agreement; and

 

WHEREAS, New Bank desires to become a party to the Senior Lending Agreement.

 

NOW, THEREFORE, in consideration of the mutual agreement of the parties hereto and for other good and valuable consideration, receipt of which is hereby acknowledged, it is agreed by and between Pioneer, New Bank and all of the Banks which are presently parties to the Senior Lending Agreement as follows:

 

1.                                       The Senior Lending Agreement is hereby amended pursuant to Section 12 thereof to add New Bank as a party thereto on the eleventh (11th) Business Day following delivery by Pioneer of a copy hereof executed by both Pioneer and New Bank to each of the Banks which are presently parties to the Senior Lending Agreement unless Voting Banks, excluding New Bank, holding more than thirty three and one third percent (331/3%) of the outstanding principal amount of all Senior Debt of the Borrowers object to New Bank becoming a Voting-Bank under the Senior Lending Agreement.

 

2.                                       Upon the effective date hereof which shall be determined by paragraph 4 of Section 12 of the Senior Lending Agreement, New Bank agrees to be bound by all terms and conditions of the Senior Lending Agreement as a Voting Bank and further agrees that all credit which is extended by New Bank to Pioneer shall be subject to all terms and agreements of the Senior Lending Agreement.

 

3.                                       Section 1 of the Senior Lending Agreement is hereby amended to add a new paragraph which shall state the following: “The PrivateBank and Trust Company” shall mean the The PrivateBank and Trust Company of 120 S. LaSalle Street, Chicago, Illinois 60603.

 

4.                                       Paragraph 5 of Section 1 of the Senior Lending Agreement is hereby amended to add New Bank within the definitions of “Banks” as either a “Voting Bank” or a “Non-Voting Bank”.

 

Amendment #34

 

 

New Bank hereby confirms that it is either a Voting Bank or a Non-Voting Bank by initialing the appropriate line signifying its choice where indicated below:

 

	
Voting Bank
    	
 
    
	
 
    	
(INITIALS)
    
	
 
    	
 
    
	
Non-Voting Bank
    	
 
    
	
 
    	
(INITIALS)
    

 

5.                                       Paragraph 13.1 of Section 13 of the Senior Lending Agreement is hereby amended to add the following:

 

“The PrivateBank and Trust Company, 120 S. LaSalle Street, Chicago, Illinois 60603.”

 

6.                                       All terms of the Senior Lending Agreement, unless expressly amended hereby, shall remain in full force and effect as if this Amendment had not been adopted.

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment to the Senior Lending Agreement as of the day and year first above written.

 

	
 
    	
PIONEER   FINANCIAL SERVICES, INC.

a   Missouri corporation

Individually   and on behalf of its Subsidiaries listed on Exhibit L to the Senior   Lending Agreement
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Laura   V. Stack
    
	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
THE   PRIVATEBANK and TRUST COMPANY, an Illinois Banking Corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
David   B. Vande Ven
    
	
 
    	
Title:
    	
Managing   Director
    

 

2

 

EXHIBIT D

 

CREDIT FACILITY LETTER

 

The undersigned bank, as of the date hereof, expects to offer a maximum aggregate credit facility of Thirty Million Dollars ($30,000,000.00) during the next twelve (12) months to Pioneer Financial Services, Inc., a Missouri corporation, and certain subsidiaries which shall he subject to all terms and conditions of that certain Secured Senior Leading Agreement dated as of June 12, 2009  (as previously and hereafter amended, modified and restated, the “Agreement”).  The terms hereof are hereby incorporated by reference into the Agreement, reference to which is made for a lull statement of all terms thereof.  The specific terms of the Credit Facility are as follows:

 

	
Lender:
    	
The PrivateBank and Trust Company

120 S. LaSalle Street

Chicago, IL 60603

 
    	
 
    
	
Borrower:
    	
Pioneer   Financial Services, Inc.
   4700 Belleview, Suite 300
   Kansas City, MO 64112
   And certain Subsidiaries listed on Exhibit L to the Agreement (the   “Borrower”)
    
	
 
    	
 
    
	
Drawings:
    	
This   Credit Facility is available through December 31, 2011 unless terminated   earlier pursuant to the terms of the Agreement.  All proceeds will be transmitted to a   specified bank and account number for the Borrower and initially that will be   UMB Bank, N.A., in Account No. 9801049275.
    
	
 
    	
 
    	
 
    
	
Facility:
    	
Revolving   Grid Note:
   Revolving Grid Note Pricing:
   Revolving Grid Note Maturity:
   Amortizing Note(s) Funded:
   Amortizing Note(s) Unfunded:
   Amortizing Note(s) Pricing:

 

 

Single   Pay Term Note Amount:
   Single Pay Term Note Expiry Date: 
    	
$5,000,000
   WSPJ Floating, with a Floor of 5.00%
   12/28/2012
   $0
   $25,000,000
    
   Bloomberg 90 day moving average rate of 4-year treasury notes plus 270 basis   points, with a floor of 6.25%
   $0
   $0
    
				

 

We appreciate this opportunity to provide this statement of present expectations in support of your financial requirements.  Your acceptance any credit which may be extended by the undersigned constitutes a certification that all warranties and representations in Section 5 of the Agreement are true as of the date of the extension of any such credit and that no Borrower, as of such date, is in default under the terms of such Agreement.  By delivery of this Credit Facility Letter to you, the undersigned does not commit or otherwise obligate itself to extend to you any credit described in the Credit Facility.

 

	
 
    	
The   PrivateBank and Trust Company
    
	
 
    	
 
    	
 
    
	
Dated:   December 29, 2011
    	
By:   
    	
 
    
	
 
    	
Name:
    	
David   B. Vande Ven
    
	
 
    	
Title:   
    	
Managing   Director
    

 

3

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