Document:

enva-ex101_42.htm

EXHIBIT 10.1

EXECUTION VERSION

FIRST AMENDMENT TO
CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of April 13, 2018, is made by and among ENOVA INTERNATIONAL, INC., a Delaware corporation (“Parent”), certain wholly-owned Restricted Subsidiaries (as defined in the Credit Agreement defined below) of the Parent party hereto as borrowers (each such person and the Parent, individually, a “Borrower” and collectively, jointly and severally, the “Borrowers”), the guarantors party hereto (the “Guarantors”), the Lenders (as defined in the Credit Agreement defined below) party hereto (which constitute 100% of the Lenders as of the First Amendment Effective Date) and TBK BANK, SSB, as administrative agent and collateral agent for the Lenders (in such capacities, the “Administrative Agent”).

RECITALS

	
A.
	
The Borrowers, Guarantors, Administrative Agent and the Lenders are parties to that certain Credit Agreement dated as of June 30, 2017 (as amended, restated, extended, supplemented and/or otherwise modified from time to time, the “Credit Agreement”); 

	
B.
	
Borrowers have requested (i) Lenders to provide a Revolving Facility Increase pursuant to Section 2.19 of the Credit Agreement to increase the Maximum Revolver Amount to an amount equal to Seventy-five Million Dollars ($75,000,000) in the aggregate, and (ii) that certain amendments to the Credit Agreement be made subject to the terms and conditions as set forth in this Amendment; and

	
C.
	
Administrative Agent and the Lenders have agreed to such Revolving Facility Increase and to make certain amendments to the Credit Agreement subject to the terms and conditions as set forth in this Amendment.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound agree as follows:

ARTICLE I
DEFINITIONS

1.01Capitalized terms used in this Amendment which are defined in the Credit Agreement shall have the same meanings as defined therein, unless otherwise defined herein.

ARTICLE II
AMENDMENTS

2.01Amendment to Recitals. Effective as of the First Amendment Effective Date, with respect to the cover page of the Credit Agreement and the first WHEREAS clause in the recitals of the Credit Agreement, each is hereby amended by removing “$40,000,000” and replacing it with “$75,000,000”.

2.02Amendment to Section 1.1.  Effective as of the First Amendment Effective Date, Section 1.1 of the Credit Agreement is hereby amended by amending and restating each of the following definitions in its entirety to read as follows:

“Additional Notes” shall mean any Indebtedness of the Credit Parties (other than the Senior Notes and Subordinated Debt) incurred or issued after the Effective Date (or, in the case of Assumed Indebtedness, incurred or issued prior to or after the Effective 

 

Date and assumed by a Credit Party after the Effective Date), which, in each case, (a) is not secured, directly or indirectly, or in whole or in part, by a Lien and (b) does not contain any More Restrictive Covenants than the Senior Notes Indenture, the pricing of such Additional Note is not materially worse than the Senior Notes Indenture, and the “maturity date” of such Additional Note is at least 13 months after the Maturity Date; provided, it is understood and agreed that if any such Additional Notes are convertible into common stock or preferred stock, the mechanics of such conversion shall not be considered More Restricted Covenants and such stock shall not be redeemable until at least 13 months after the Maturity Date.

“Maximum Revolver Amount” means $75,000,000, as such aggregate maximum amount may be increased from time to time as provided in Section 2.19 or reduced from time to time as provided in Section 2.5.

“Note” or “Notes” shall mean the Revolving Loan Notes and/or the Swingline Loan Note, collectively, separately or individually, as appropriate, as any such Note may be, increased, restated, supplemented or modified from time to time and shall include all notes issued in exchange or substitution for each such Note.

 “Revolving Commitment” shall mean, with respect to each Revolving Lender, the commitment of such Revolving Lender to make Revolving Loans in an aggregate principal Dollar amount at any time outstanding up to an amount equal to such Revolving Lender’s Revolving Commitment Percentage of its Revolving Commitment identified as its Revolving Commitment on Schedule 2.1(a) (which may be increased from time to time pursuant to Section 2.19).  As of the First Amendment Effective Date, the Revolving Commitment is $75,000,000.

 

“Senior Notes” shall mean the senior notes issued pursuant to each Senior Notes Indenture.

 

“Senior Notes Documents” shall mean, collectively, each Senior Notes Indenture, any offering memorandum executed in connection therewith, and all other agreements, instruments and other documents setting forth the terms of the Senior Notes.

 

“Senior Notes Indenture” shall mean each of (a) that certain Indenture for 9.75% Senior Notes due 2021, dated as of May 30, 2014 (as amended, restated, supplemented or as otherwise modified from time to time) by and among Parent, certain of Parent’s subsidiaries as guarantors from time to time and Computershare Trust Company, N.A., a national banking association duly organized under the laws of the United States and Computershare Trust Company of Canada, as successor trustee to US Bank National Association and (b) that certain Indenture for 8.500% Senior Notes due 2024, dated as of September 1, 2017 (as amended, restated, supplemented or as otherwise modified from time to time) by and among Parent, certain of Parent’s subsidiaries as guarantors from time to time and Computershare Trust Company, N.A., a national banking association duly organized under the laws of the United States and Computershare Trust Company of Canada. 

 

2.03Amendment to definition of “Eligible Accounts”.  Effective as of the First Amendment Effective Date, the definition of “Eligible Accounts” in Section 1.1 of the Credit Agreement is hereby amended by removing the “and” at the end of clause (y) thereto, removing the period at the end of clause (z) thereto and replacing it with “; and”, and adding a new clause “(aa)” at the end thereof as follows: 

 

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“(aa)such Receivable shall not be a closed-end credit that does not provide for multiple advances and where the consumer is required to repay substantially the entire amount of the loan within 45 days through a single installment.”

2.04Amendment to definition of “Fixed Charge Coverage Ratio”.  Effective as of the First Amendment Effective Date, the definition of “Fixed Charge Coverage Ratio” in Section 1.1 of the Credit Agreement is hereby amended by inserting the words “and excluding, without duplication, the First Amendment Closing Fee” immediately after the phrase “(excluding any interest payments in connection with any Permitted Receivables Financing or any other securitization or receivables facilities”.

2.05Amendment to definition of “Funded Debt”.  Effective as of the First Amendment Effective Date, the definition of “Funded Debt” in Section 1.1 of the Credit Agreement is hereby amended by amending and restating clause (v) thereof to read as follows: 

“(v) the amount of obligations outstanding under (1) each Senior Notes Indenture, including any Permitted Refinancing Debt thereof, as permitted under Section 6.2(h) and (2) any Additional Notes, including any Permitted Refinancing Debt thereof, as permitted in Section 6.2(p).”

2.06Additions to Section 1.1.  Effective as of the First Amendment Effective Date, Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in appropriate alphabetical order as follows:

“First Amendment” means that certain First Amendment to Credit Agreement, dated as of the First Amendment Effective Date, by and among Borrowers, Guarantors, Administrative Agent and the Lenders party thereto.

“First Amendment Closing Fee” shall have the meaning given to such term in the First Amendment.

“First Amendment Effective Date” means April 13, 2018.

 

2.07Amendment to Section 2.4(d). Effective as of the First Amendment Effective Date, Section 2.4(d) of the Credit Agreement is hereby amended by adding a new sentence at the end thereof as follows: 

“Notwithstanding anything in this clause (d) to the contrary, solely for purposes of calculating the Minimum Usage and the Minimum Usage Fee (x) for the period beginning on the Effective Date and ending on the First Amendment Effective Date, the Revolving Committed Amount shall be deemed to be $40,000,000 (without giving effect to the First Amendment) and (y) for all periods beginning on the first day following the First Amendment Effective Date and thereafter (after giving effect to the First Amendment), the Revolving Committed Amount shall be deemed to be $75,000,000.”

2.08Amendment to Section 6.2(p). Effective as of the First Amendment Effective Date, Section 6.2(p) of the Credit Agreement is hereby amended and restated to read as follows:

“(p) Additional Notes of the Credit Parties and any Permitted Refinancing Debt in exchange for, or the net cash proceeds of which are used to extend, refinance, renew, replace, defease or refund, such Additional Notes, provided that (i) to the extent such Additional Notes are used to extend, refinance, renew, replace, defease or refund the 

 

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Senior Notes, such Additional Notes satisfy clause (2) and (3) of the definition of Permitted Refinancing Debt and (ii) any amount of Additional Notes or Permitted Refinancing Debt thereof, as the case may be, issued in excess of the amounts used pursuant to subclause (i), prior to the incurrence thereof, the Borrower Representative shall have delivered to the Administrative Agent a Compliance Certificate which indicates that, on a pro forma basis after taking into account the incurrence of such Additional Notes or Permitted Refinancing Debt thereof, as the case may be, and the use of the proceeds thereof, (A) there shall occur no Default or Event of Default and (B) the Credit Parties and their Restricted Subsidiaries shall be in compliance with the minimum Fixed Charge Coverage Ratio set forth in Section 6.14(a), and such Indebtedness shall not have any scheduled amortization or mandatory prepayments or obligations to repurchase or redeem prior to thirty days after the Maturity Date (except as otherwise permitted pursuant to Section 6.6(b));”

2.09Amendment to Section 9.2(a)(iii).  Effective as of the First Amendment Effective Date, Section 9.2(a)(iii) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

“(iii)If to a Lender to it at its address (or telecopier number) set forth on the signature page to the First Amendment or otherwise as set forth in its Administrative Questionnaire.”

2.10Amendment to Schedule 2.1(a).  Effective as of the First Amendment Effective Date, Schedule 2.1(a) to the Credit Agreement is hereby amended, restated and replaced in its entirety by Schedule 2.1(a) attached hereto.

ARTICLE III
NO WAIVER

3.01No Waiver.  Nothing contained in this Amendment shall be construed as a waiver by Administrative Agent or any Lender of any covenant or provision of the Credit Agreement or the other Credit Documents, and the failure of Administrative Agent or any Lender at any time or times hereafter to require strict performance by the Credit Parties of any provision thereof shall not waive, affect or diminish any right of Administrative Agent and the Lenders to thereafter demand strict compliance therewith. Administrative Agent and the Lenders hereby reserve all rights granted under the Credit Agreement, the other Credit Documents and this Amendment.  

ARTICLE IV.
CONDITIONS PRECEDENT

4.01Conditions to Effectiveness. This Amendment shall become effective only upon the satisfaction in full, in a manner reasonably satisfactory to Administrative Agent, of the following conditions precedent (the first such date upon which all such conditions have been satisfied being herein called the “First Amendment Effective Date”):

(a)Administrative Agent shall have received this Amendment, duly executed by Borrowers, Guarantors and Lenders in form and substance reasonably satisfactory to Administrative Agent and each Lender and its respective counsel.

 

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(b) Administrative Agent shall have received a Note (or an amended and restated Note) duly executed by Borrowers for any Lender that requests its Revolving Commitment (or any increase thereof) be evidenced by a Note.

(c)Administrative Agent shall have received from the Borrowers updated financial projections and an officer’s certificate, in each case in form and substance reasonably satisfactory to the Administrative Agent, demonstrating that, after giving effect to the Revolving Facility Increase effectuated under this Amendment and any Extension of Credit thereunder on the First Amendment Effective Date, on a pro forma basis, the Credit Parties will be in compliance with the Financial Covenants.

(d)Administrative Agent shall have received a Notice of Borrowing duly executed by Borrowers to the extent an Extension of Credit is to occur on the First Amendment Effective Date.

(e)The Administrative Agent shall have received the opinions of Kirkland & Ellis LLP and Parr Brown Gee & Loveless, as applicable, each as counsel to the Credit Parties, dated the First  Amendment Effective Date, addressed and in form and substance reasonably satisfactory to the Administrative Agent.

(f)The Administrative Agent shall have received an officer’s certificate prepared by the chief financial officer or other Authorized Officer of Parent as to the solvency of the Credit Parties and their Restricted Subsidiaries, after giving effect to the transactions contemplated by the First Amendment Effective Date and the initial borrowings under the Credit Agreement as amended by the First Amendment.

(g)The representations and warranties made by the Credit Parties herein and in the other Credit Documents shall (i) with respect to representations and warranties that contain a materiality qualification, be true and correct in all respects and (ii) with respect to representations and warranties that do not contain a materiality qualification, be true and correct in all material respects, in each case on and as of the date of the First Amendment Effective Date as if made on and as of such date except for any representation or warranty made as of an earlier date, which representation and warranty shall remain true and correct as of such earlier date.

(h)No Default or Event of Default shall have occurred and be continuing on the First Amendment Effective Date or immediately after giving effect to the First Amendment (including the Revolving Facility Increase contemplated therein) and the Extension of Credit to be made on the First Amendment Effective Date (if any) unless such Default or Event of Default shall have been waived in accordance with the Credit Agreement.

(i)Agent shall have received a certificate of the Secretary or Assistant Secretary (or other equivalent officer, partner or manager) of each Credit Party in form and substance reasonably satisfactory to Administrative Agent dated as of the First Amendment Effective Date which shall certify (i) copies of resolutions in form and substance reasonably satisfactory to Administrative Agent, of the board of directors (or other equivalent governing body, member or partner) of such Credit Party authorizing the execution, delivery and performance of this Amendment and any other Credit Document  delivered in connection herewith to which such Credit Party is a party (and such certificate shall state that such resolutions have not been amended, modified, revoked or rescinded as of the date of such certificate), (ii) the incumbency and signature of the officers of such Credit Party authorized to execute this Amendment and any other Credit Document delivered in connection herewith to which such Credit Party is a party, (iii) (1) that the Organizational Documents of each Credit Party (other than Parent) have 

 

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not been amended or modified since (x) with respect to all Credit Parties (other than Parent and CNU of Iowa, LLC), the Effective Date and (y) with respect to CNU of Iowa, LLC, when such Person delivered such Organizational Documents to Administrative Agent and Lenders in connection with the execution of the Joinder Agreement joining such Person to the Credit Agreement and the other applicable Credit Documents and (2) that the Organizational Documents, as amended, of Parent attached thereto are true and correct and in full force and effect and (iv) the good standing (or equivalent status) of such Credit Party in its jurisdiction of organization and attach a good standing certificate (or equivalent) thereto dated not more than fifteen (15) days prior to the First Amendment Effective Date issued by the appropriate Governmental Authorities of the state of incorporation or organization

(j)Administrative Agent shall have received all other corporate and other proceedings, and all documents instruments and other legal matters in connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance to Administrative Agent and its counsel.

(k)Borrowers shall have paid the First Amendment Closing Fee (as defined below) and all other fees, costs and expense due and payable as of the First Amendment Effective Date under the Credit Agreement and the other Credit Documents.

(l)Administrative Agent shall have received all other documents Administrative Agent may reasonably request with respect to any matter relevant to this Amendment or the transactions contemplated hereby, duly executed by Borrowers or other Credit Parties, as the case may be, in form and substance reasonably satisfactory to Administrative Agent and its counsel.

For purposes of determining compliance with the conditions specified in this Article 4, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the First Amendment Effective Date specifying its objection thereto.

ARTICLE V
MISCELLANEOUS PROVISIONS

5.01Reallocation of Revolving Loans.  The parties hereto hereby acknowledge and agree that, pursuant to and in accordance with Section 2.19(c) of the Credit Agreement, in connection with the closing of the Revolving Facility Increase under this Amendment, on the First Amendment Effective Date, the outstanding Revolving Loans and Participation Interests shall be reallocated by causing such fundings and repayments (through the Administrative Agent) among each of the Lenders having a Revolving Commitment prior to such date and the Lenders acquiring a Revolving Commitment (pursuant to this Amendment) as necessary such that, after giving effect to this Amendment and the Revolving Facility Increase effectuated hereunder, each Lender will hold Revolving Loans and Participation Interests based on its Revolving Commitment Percentage set forth on Schedule 2.1(a) (after giving effect to such Revolving Facility Increase).

5.02Survival of Representations and Warranties. All representations and warranties made in the Credit Agreement, the Amendment and the other Credit Documents, shall survive the execution and delivery of this Amendment, and no investigation by Administrative Agent or any Lender shall affect the representations and warranties or the right of Administrative Agent or any Lender to rely upon them.

5.03General Ratifications.  The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in the Credit Agreement and the 

 

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other Credit Documents and except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement (including, without limitation, the Guaranty set forth in Article X thereof) and the other Credit Documents are ratified and confirmed and shall continue in full force and effect.  The Credit Parties, the Administrative Agent and the Lenders agree that the Credit Agreement and the other Credit Documents, as amended hereby or in connection herewith, shall continue to be legal, valid, binding and enforceable in accordance with their respective terms subject as to enforcement of remedies to (x) any Debtor Relief Laws and (y) general principles of equity, whether applied by a court of law or equity.  Each Credit Party ratifies and reaffirms the Obligations (as increased hereby) are secured by the Credit Documents including, without limitation, all indebtedness and other obligations of Borrowers now or hereafter existing under the Credit Agreement.   

5.04References to Credit Agreement. Each of the Credit Agreement and the other Credit Documents, and any and all other agreements, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement, as amended hereby, are hereby amended so that any reference in the Credit Agreement and such other Credit Documents to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby.

5.05Fees.  Borrowers shall pay to Administrative Agent a non-refundable amendment closing fee (based on the amount of the increase in the Maximum Revolver Amount (for the avoidance of doubt, such increase amount shall be $35,000,000)) for the pro rata benefit of each Lender party hereto who is providing a Revolving Commitment under the Revolving Facility Increase on the First Amendment Effective Date equal to $175,000 in the aggregate for all such Lenders (the “First Amendment Closing Fee”), which Amendment Fee shall be due and payable and fully earned on the First Amendment Effective Date. 

5.06Costs and Expenses. Each Credit Party acknowledges that Section 9.5 of the Credit Agreement applies to this Amendment and the transactions, agreements and documents contemplated thereunder. 

5.07Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.

5.08Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of Administrative Agent, Lenders, Credit Parties and their respective successors and permitted assigns, except that Credit Parties may not assign or transfer any of their respective rights or obligations hereunder without the prior written consent of Administrative Agent and the Lenders and the Administrative Agent may only assign their rights hereunder as permitted by Section 9.6 of the Credit Agreement.

5.09Counterparts. This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment by facsimile transmission or other electronic means shall be equally effective as delivery of a manually executed counterpart of this Amendment.

5.10Further Assurances. To the extent required by Section 5.13 of the Credit Agreement, each Credit Party agrees to execute such other and further documents and instruments as Administrative Agent may request to implement the provisions of this Amendment.

 

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5.11Effect of Waiver. No consent or waiver, express or implied, by Administrative Agent or any Lender to or for any breach of or deviation from any covenant or condition by Borrowers shall be deemed a consent to or waiver of any other breach of the same or any other covenant, condition or duty.

5.12No Limitation on Administrative Agent. Nothing in this Amendment shall be deemed in any way to limit or restrict Administrative Agent’s or any Lender’s rights to seek in a bankruptcy court or any other court of competent jurisdiction, any relief Administrative Agent or any Lender may deem appropriate in the event that there is an Event of Default continuing pursuant to section 7.1(e) of the Credit Agreement.

5.13Material Inducement. Each Credit Party further acknowledges and agrees that the representations, acknowledgments, agreements and warranties in this Amendment have been made by Credit Parties as a material inducement to Administrative Agent and the Lenders to into this Amendment, that Administrative Agent and the Lenders are relying on such representations and warranties, and that Administrative Agent and the Lenders would not have entered into this Amendment without such representations, acknowledgments, agreements, and warranties.

5.14Headings. The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment.

5.15Applicable Law. Sections 9.12 and 9.13 of the Credit Agreement are hereby incorporated herein, mutatis mutandis.

5.16Full Opportunity for Review; No Undue Influence. Credit Parties have reviewed this Amendment and acknowledges and agrees that it (a) understands fully the terms of this Amendment and the consequences of the issuance hereof, (b) has been afforded an opportunity to have this Amendment reviewed by, and to discuss this Amendment with, such attorneys and other Persons as it may wish, and (c) has entered into this Amendment of its own free will and accord and without threat or duress. This Amendment and all information furnished to Administrative Agent and the Lenders is made and furnished in good faith, for value and valuable consideration. This Amendment has not been made or induced by any fraud, duress or undue influence exercised by Administrative Agent or Lender or any other Person.

5.17.Entire Agreement.  THE CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES PERTAINING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

 

[Remainder intentionally left blank; signature pages follow]

 

 

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

 

BORROWER and PARENT:

ENOVA INTERNATIONAL, INC., a Delaware corporation

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

 

[Signature Page to First Amendment]

 

 

BORROWERS:

 

 

CNU ONLINE HOLDINGS, LLC, a Delaware limited liability company

OHIO CONSUMER FINANCIAL SOLUTIONS, LLC, a Delaware limited liability company

 

By: /s/ Lisa M. Young

Name:  Lisa M. Young
Its:  Secretary

 

 

CASHNET CSO OF MARYLAND, LLC, a Delaware limited liability company

CNU OF ALABAMA, LLC, a Delaware limited liability company

CNU OF IDAHO, LLC, a Delaware limited liability company

CNU OF KANSAS, LLC, a Delaware limited liability company

CNU OF SOUTH DAKOTA, LLC, a Delaware limited liability company

CNU OF UTAH, LLC, a Utah limited liability company

TENNESSEE CNU, LLC, a Delaware limited liability company

 

By: Headway Capital, LLC

Its: Member

 

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

[Signature Page to First Amendment]

 

CASHNETUSA OF FLORIDA, LLC, a Delaware limited liability company

CNU OF ALASKA, LLC, a Delaware limited liability company

CNU OF ARIZONA, LLC, a Delaware limited liability company

CNU OF CALIFORNIA, LLC, a Delaware limited liability company

CNU OF COLORADO, LLC, a Delaware limited liability company

CNU OF DELAWARE, LLC, a Delaware limited liability company

CNU OF FLORIDA, LLC, a Delaware limited liability company

CNU OF HAWAII, LLC, a Delaware limited liability company

CNU OF ILLINOIS, LLC, a Delaware limited liability company

CNU OF INDIANA, LLC, a Delaware limited liability company

CNU OF LOUISIANA, LLC, a Delaware limited liability company

CNU OF MAINE, LLC, a Delaware limited liability company

CNU OF MICHIGAN, LLC, a Delaware limited liability company

CNU OF MINNESOTA, LLC, a Delaware limited liability company

CNU OF MISSISSIPPI, LLC, a Delaware limited liability company

CNU OF MISSOURI, LLC, a Delaware limited liability company

CNU OF MONTANA, LLC, a Delaware limited liability company

CNU OF NEVADA, LLC, a Delaware limited liability company

CNU OF NEW HAMPSHIRE, LLC, a Delaware limited liability company

CNU OF NEW MEXICO, LLC, a Delaware limited liability company

CNU OF NORTH DAKOTA, LLC, a Delaware limited liability company

CNU OF OHIO, LLC, a Delaware limited liability company

CNU OF OKLAHOMA, LLC, a Delaware limited liability company

 

By: CNU Online Holdings, LLC

Its:  Member

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

[Signature Page to First Amendment]

 

 

CNU OF OREGON, LLC, a Delaware limited liability company

CNU OF RHODE ISLAND, LLC, a Delaware limited liability company 

CNU OF SOUTH CAROLINA, LLC, a Delaware limited liability company

CNU OF TENNESSEE, LLC, a Delaware limited liability company

CNU OF TEXAS, LLC, a Delaware limited liability company

CNU OF VIRGINIA, LLC, a Utah limited liability company

CNU OF WASHINGTON, LLC, a Delaware limited liability company

CNU OF WISCONSIN, LLC, a Delaware limited liability company

CNU OF WYOMING, LLC, a Delaware limited   liability company

CNU OF IOWA, LLC, a Delaware limited liability company

 

By: CNU Online Holdings, LLC

Its:  Member

 

   By: /s/ Lisa M. Young
   Name:  Lisa M. Young
   Its:  Secretary

 

[Signature Page to First Amendment]

 

 

CASHNETUSA CO, LLC, a Delaware limited liability company CASHNETUSA OR, LLC, a Delaware limited liability company

THE CHECK GIANT NM, LLC, a Delaware limited liability company

 

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

 

[Signature Page to First Amendment]

 

GUARANTORS:

 

 

BILLERS ACCEPTANCE GROUP, LLC, a Delaware limited liability company

NC FINANCIAL SOLUTIONS, LLC, a Delaware limited liability company 

NETCREDIT FINANCE, LLC, a Delaware limited liability company

CNU DOLLARSDIRECT INC., a Delaware corporation 

CNU DOLLARSDIRECT LENDING INC., a Delaware corporation

DEBIT PLUS, LLC, a Delaware limited liability company

DP LABOR HOLDINGS, LLC, a Delaware limited liability company

ENOVA BUSINESS, LLC, a Delaware limited liability company

ENOVA DECISIONS, LLC, a Delaware limited liability company

ENOVA FINANCE 2, LLC, a Delaware limited liability company

ENOVA FINANCE 3, LLC, a Delaware limited liability company

ENOVA FINANCE 4, LLC, a Delaware limited liability company

ENOVA FINANCIAL HOLDINGS, LLC, a Delaware limited liability company

ENOVA ONLINE SERVICES, INC., a Delaware corporation

ENOVACO, LLC, a Delaware limited liability company 

HEADWAY CAPITAL LLC, a Delaware limited liability company

MOBILE LEASING GROUP, INC. a Delaware corporation

NETCREDIT LOAN SERVICES, LLC, a Delaware limited liability company

CASHEURONET UK, LLC, a Delaware limited liability company 

 

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

[Signature Page to First Amendment]

 

 

THE BUSINESS BACKER, LLC, a Delaware limited liability company

AEL NET MARKETING, LLC, a Delaware limited liability company

AEL NET OF MISSOURI, LLC, a Delaware limited liability company

CNU TECHNOLOGIES OF IOWA, LLC, a Delaware limited liability company

DOLLARSDIRECT, LLC, a Delaware limited liability company

ENOVA BRAZIL, LLC, a Delaware limited liability company

ENOVA INTERNATIONAL GEC, LLC, a Delaware limited liability company

EURONETCASH, LLC, a Delaware limited liability company

 

 

By:  CNU Online Holdings, LLC

Its:   Member

 

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

 

[Signature Page to First Amendment]

 

 

NC FINANCIAL SOLUTIONS OF ALABAMA, LLC, a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF ARIZONA, LLC, a

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF CALIFORNIA, LLC, a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF DELAWARE, LLC, a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF FLORIDA, LLC, a

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF GEORGIA, LLC, a

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF IDAHO, LLC, a

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF ILLINOIS, LLC, a

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF INDIANA, LLC, a •

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF KANSAS, LLC, a

Delaware limited liability company

NC FINANCIAL SOLUTIONS OF LOUISIANA, LLC, a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF MARYLAND, LLC, a Delaware limited liability company

 

 

By:   NC Financial Solutions, LLC

Its:    Member

 

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

 

[Signature Page to First Amendment]

 

NC FINANCIAL SOLUTIONS OF MISSISSIPPI, LLC,  

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF MISSOURI, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF MONTANA, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF NEVADA, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF NEW HAMPSHIRE, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF NEW JERSEY, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF NEW MEXICO, LLC,

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF NORTH DAKOTA, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF OHIO, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF OREGON, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF RHODE ISLAND, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF SOUTH CAROLINA, LLC,

a Delaware limited liability company 

NC FINANCIAL SOLUTIONS OF SOUTH DAKOTA, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF TENNESSEE, LLC, 

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF TEXAS, LLC,

a Delaware limited liability company

NC FINANCIAL SOLUTIONS OF UTAH, LLC, 

a Utah limited liability company

NC FINANCIAL SOLUTIONS OF VIRGINIA, LLC, 

a Utah limited liability company

NC FINANCIAL SOLUTIONS OF WISCONSIN, LLC, 

a Delaware limited liability company

CREDITME, LLC, a Delaware limited liability company

 

 

By:   NC Financial Solutions, LLC

Its:    Member

 

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

[Signature Page to First Amendment]

 

DEBIT PLUS PAYMENT SOLUTIONS, LLC, a Delaware limited liability company

DEBIT PLUS SERVICES, LLC, a Delaware limited liability company

DEBIT PLUS TECHNOLOGIES, LLC, a Delaware limited liability company

 

By:  Debit Plus, LLC

Its:   Member

 

By: /s/ Lisa M. Young
Name:  Lisa M. Young
Its:  Secretary

 

[Signature Page to First Amendment]

 

 

ADMINISTRATIVE AGENT:

TBK BANK, SSB, as Administrative Agent

 

 

By /s/ Anthony Acosta
Name: Anthony Acosta
Title:   Vice President

 

[Signature Page to First Amendment]

 

LENDER:

 

TBK BANK, SSB

 

 

By: /s/ Anthony Acosta
Name: Anthony Acosta
Title:   Vice President

 

 

Notice Address:

TBK Bank, SSB

3 Park Central

Suite 1700

12700 Park Central Drive

Dallas, Texas  75251

Attention:  James B. Allin

Email:  jallin@triumphcf.com

 

With a copy to: 

Dorsey & Whitney LLP

300 Crescent Court, Suite 400

Dallas, Texas  75201

Attention:  Larry A. Makel, Esq.

 

 

[Signature Page to First Amendment]

 

LENDER:

 

GREEN BANK

 

 

By: /s/ Josh Plemmons

Name:  Josh Plemmons

Title:  Vice President

 

Notice Address:

 

 

Green Bank

5224 W Plano Parkway, Suite 200

Plano, Texas 75093

Attention:  Josh Plemmons, Vice President

Facsimile: (972) 528-6759

Email: JPlemmons@greenbank.com

[Signature Page to First Amendment]

 

 

LENDER:

 

JEFFERIES FINANCE LLC

 

 

By: /s/ E. Joseph Hess

Name:  E. Joseph Hess

Title:  Managing Director

 

 

Notice Address:

 

 

Jefferies Finance LLC

520 Madison Avenue

New York, NY 10022

Attention: J.R. Young, Senior Vice President

Facsimile: (212) 284-3444 

Email:  jyoung@jefferies.com 

 

 

[Signature Page to First Amendment]

 

 

LENDER:

 

PACIFIC WESTERN BANK

 

By: /s/ JT Cook III

Name:  JT Cook III

Title:  SVP, Portfolio Manager

 

 

Notice Address:

 

Pacific Western Bank

5404 Wisconsin Avenue, 2nd Floor

Chevy Chase, MD  20815

Attention: Sue Choi

Email: schoi@pacificwesternbank.com

             jcook@capitalsource.com 

 

 

 

[Signature Page to First Amendment]

 

Schedule 2.1 (a)

			
	
Revolving Lender
	
Revolving Commitment
	
Revolving Commitment Percentage

	
TBK Bank, SSB
	
$30,000,000.00
	
 40.00%

	
Jefferies Group LLC
	
$5,000,000.00
	
6.67%

	
Green Bank
	
$15,000,000.00
	
20.00%

	
Pacific Western Bank
	
$25,000,000.00
	
33.33%

	
Total
	
$75,000,000.00
	
100.00%Exhibit 10.1

 

CONSULTANCY AGREEMENT

 

This Agreement (the “Agreement”)
is made and entered into this 18th of July, 2018 (the “Effective Date”) by and between United Utilities Authority, ltd.
with its principal place of business located at 5/71 Soi Ramkhamheng 3 Soi 31 Intersection 5, Dokmai Subdistrict, Prawet District,
Bangkok (“UUA”) and United Capital Consultants, Inc. with its principal place of business located at 3210 East Coralbell
Avenue, Mesa, AZ 85204, USA (the “Consultant” or “UCC”) (hereinafter referred to individually as a “Party”
and collectively as “the Parties”).

 

WHEREAS, UUA is a
private utility that emphasizes renewable energy projects;

 

WHEREAS, the Consultant
has expertise in the area of project structure and finance;

 

WHEREAS, UUA desires to
engage the Consultant to provide management consulting and to prepare for expansion as UUA begins projects in developing countries,
and the Consultant is willing to provide such services to UUA;

 

NOW, THEREFORE,
the Parties hereby agree as follows:

 

		1.	Engagement and Services

 

		a.	Engagement. UUA hereby engages the Consultant
to provide and perform the services set forth in Exhibit A attached hereto (the “Services”), and the Consultant hereby
accepts the engagement.

 

		b.	Standard of Services. All Services to be provided
by Consultant shall be performed with promptness and diligence in a professional manner. Consultant shall provide Consultant’s
own equipment and place of performing the Services, unless otherwise agreed between the Parties. UUA shall provide such access
to its information, property and personnel as may be reasonably required in order to permit the Consultant to perform the Services.

 

		c.	Representation and Warranty. Consultant represents
and warrants to UUA that it is under no contractual or other restrictions or obligations which are inconsistent with the execution
of this Agreement or which will interfere with the performance of the Services.

 

		d.	Independent Contractor. The Consultant agrees
that all Services will be rendered by it as an independent contractor and that this Agreement does not create an employer- employee
relationship between the parties. The Consultant shall have no right to receive any employee benefits provided by UUA to its employees.
Consultant agrees to pay all taxes due in respect of the Consultancy Fee and to indemnify UUA in respect of any obligation that
may be imposed on UUA to pay any such taxes or resulting from Consultant’s being determined not to be an independent contractor.
This Agreement does not authorize the Consultant to act for UUA as its agent or to make commitments on behalf of UUA.

 

		e.	Equity. As UCC anticipates obtaining equity
in UUA and some of UUA’s projects, UCC will retain shareholder rights in connection with shares of UUA that they own, independent
of this contract. Such rights may include, but are not limited to the right to dividends, the right to vote, and the right to
buy new shares.

 

		2.	Consultancy Period

 

		a.	Commencement. This Agreement shall commence
on the Effective Date and shall remain in effect until:

 

		I.	the completion
                                         of the Services, or

 

		II.	the earlier termination of this Agreement as provided
under Termination (The “Consultancy Period”).

 

     

     

    

 

		b.	Term. This agreement will remain in effect
for a term of ten (10) years unless otherwise terminated. This agreement shall then be renewed automatically for succeeding terms
of three (3) years each until terminated. (the “Term”)

 

		3.	Consultancy Fee and Expenses

 

		a.	Consultancy Fee. In consideration of the Services
to be rendered hereunder, UUA shall pay Consultant a Consultancy Fee at the rates and pursuant to the procedures set forth in
Exhibit B (the “Consultancy Fee”).

 

		b.	Expenses. Consultant shall be entitled to reimbursement
for all pre-approved expenses reasonably incurred in the performance of the Services, upon submission and approval of written
statements and receipts in accordance with the then regular procedures of UUA.

 

		c.	Payment. The Consultant shall submit to UUA
a monthly invoice detailing the Services performed and expenses incurred during the preceding month and the amount due. All such
invoices shall be due and payable within thirty (30) calendar days after receipt thereof by UUA.

 

		d.	Hourly Fees Cap. UUA shall be entitled to set
a monthly cap on hourly fees. Consultant may not bill UUA hourly fees for a total amount exceeding the current cap on hourly fees,
forfeits the right to bill fees exceeding the current cap, and may not carry such fees over into future months. UUA may set, remove,
or change the cap on hourly fees by notifying the Consultant in writing at least five (5) days prior to the start of the following
month. Said cap will be effective the following month - unless Consultant gives written consent for the change to be effective
immediately - and will remain in effect for subsequent months until changed or removed.

 

		4.	Work Product and License

 

		a.	Work Product. In this Agreement the term “Work
Product” shall mean all work product generated by Consultant solely or jointly with others in the performance of the Services,
including, but not limited to, any and all information, notes, drawings, records, diagrams, processes, technology, designs, ideas,
inventions, copyrights, trademarks, and trade secrets.

 

		b.	Ownership. Consultant retains all right, title
and interest in and to the Work Product. All Work Product shall be the sole and exclusive property of Consultant. Consultant warrants
that it shall not knowingly incorporate into any Work Product any material that would infringe any intellectual property rights
of any third party.

 

		c.	License. The Consultant shall grant to, and
UUA is hereby granted, a worldwide, royalty- free license to exploit the incorporated items, including, but not limited to, any
and all copyrights, designs, trade secrets, or other intellectual property rights, in connection with the Work Product in any
manner that UUA deems appropriate. UUA is not granted the right to publicly use Consultant’s name or logo in conjunction with
the Work Product without prior written permission from Consultant.

 

		5.	Confidentiality

 

		a.	Confidential Information. In this agreement,
“Confidential Information” shall mean the Work Product and all material, non-public, business-related information, written
or oral, whether or not it is marked as confidential, that is disclosed or made available to the recipient, directly or indirectly,
through any means of communication or observation by the disclosing party or any of its Affiliates or Representatives.

 

     

     

    

 

		b.	Non-Confidential Information. The restrictions
of this agreement on use and disclosure of Confidential Information will not apply to information that:

 

		I.	is in or comes into the public domain without breach
of this Agreement,

 

		II.	was in the possession of a Party prior to providing
Services and was not acquired by that Party from the other Party under an obligation of confidentiality or non-use,

 

		III.	is acquired by a Party from a third party not under
an obligation of confidentiality or non-use to the other Party, or

 

		IV.	is independently developed by a Party without use
of any Confidential Information of the other Party.

 

		c.	Burden of Proof. The receiving party will have
the burden of proof relating to all exceptions to the definition of Confidential Information.

 

		d.	Confidentiality Obligation. The receiving party
will hold the Confidential Information in confidence and exercise reasonable care to protect the Confidential Information from
any loss or unauthorized disclosure.

 

		e.	Non-Disclosure. A receiving party may not disclose
Confidential Information to any third party, except to the extent

 

		I.	permitted by this agreement;

 

		II.	the disclosing party consents to in writing; or

 

		III.	as required by Law.

 

		f.	Use of Information. The Receiving Party may
only use Confidential Information in accordance with the terms of this agreement and solely for the Project

 

		g.	Permitted Disclosure. The receiving party may
disclose Confidential Information

 

		I.	if the disclosing party consents in writing to such
disclosure, or

 

		II.	to the receiving party’s officers, directors, employees,
Affiliates, or representatives who

 

		1.	need-to-know that Confidential Information in furtherance
of the Project

		2.	have been informed of the confidentiality obligations
of this agreement, and

		3.	agree to abide and be bound by the provisions of this
agreement, or are already bound by a non-disclosure agreement containing terms and conditions consistent with the terms and conditions
of this Agreement

 

		h.	Notice. A receiving party shall notify the
disclosing party if it

 

		I.	is required by Law to disclose any Confidential Information,
or

 

		II.	learns of any unauthorized disclosure of Confidential
Information.

 

		6.	Non-Publicity

 

		a)	Contents. Each of the Parties agree not to
disclose the specific contents of this Agreement to any third party without the prior written consent of the other Party except:

 

		I.	to its advisors, attorneys, or auditors who have a
need to know such information,

 

		II.	to its investors, potential investors, or potential
financial partners,

 

		III.	as required by law or court order,

 

		IV.	as required in connection with the reorganization
of a Party, or its merger into any other corporation, or the sale by a Party of all or substantially all of its properties or
assets, or

 

		V.	as may be required in connection with the enforcement
of this Agreement.

 

		b)	Existence. The parties may disclose the existence
and nature of this agreement and the Services.

 

     

     

    

 

		7.	Interference with Business

 

		a.	Non-Competition. During the term of this Agreement,
the parties will engage in no business or other activities which are, directly or indirectly, competitive with the business activities
of the other party in areas where said party does business without obtaining the prior written consent of the party.

 

		b.	Non-Solicitation. The Parties agree that for
a period of one (1) year after termination of this Agreement, the parties shall not:

 

		I.	divert or attempt to divert from the other Party any
business of any kind in which it is engaged, including, without limitation, the solicitation of or interference with any of its
suppliers or customers, or

 

		II.	employ, solicit for employment, or recommend for employment
any person employed by the other party, during the Consultancy Period and for a period of one (1) year thereafter, 

 

without receiving
prior written permission from the party.

 

		8.	General

 

		a.	Entire Agreement. This Agreement constitutes
the entire agreement of the Parties on the subject hereof and supersedes all prior understandings and instruments on such subject.
This Agreement may not be modified other than by a written instrument executed by duly authorized representatives of the Parties.

 

		b.	Waiver. Neither party’s failure or neglect
to enforce any of rights under this agreement will be deemed to be a waiver of that party’s rights. A party’s failure or neglect
to enforce any of its rights under this agreement will not be deemed to be a waiver of that or any other of its rights.

 

		c.	Severability. If any part of this agreement
is declared unenforceable or invalid, the remainder will continue to be valid and enforceable.

 

		d.	Assignment. The Services to be performed by
Consultant hereunder are personal in nature, and UUA has engaged Consultant as a result of Consultant’s expertise relating to
such Services. Consultant, therefore, agrees that it will not assign, sell, transfer, delegate or otherwise dispose of this Agreement
or any right, duty or obligation under this Agreement without UUA’s prior written consent.

 

		e.	Injunctive Relief. The Parties acknowledges
that a violation of Confidentiality or Interference with Business would cause immediate and irreparable harm to the other Party
for which money damages would be inadequate. Therefore, should such a violation occur, the damaged Party will be entitled to injunctive
relief for the other Party’s breach of any of its obligations under the said Articles without proof of actual damages and without
the posting of bond or other security. Such remedy shall not be deemed to be the exclusive remedy for such violation, but shall
be in addition to all other remedies available at law or in equity.

 

		f.	Force Majeure. Either Party shall be excused
from any delay or failure in performance required hereunder if caused by reason of any occurrence or contingency beyond its reasonable
control. The obligations and rights of the Party so excused shall be extended on a day-to-day basis for the time period equal
to the period of such excusable interruption. When such events have abated, the Parties’ respective obligations hereunder shall
resume.

 

		g.	Governing Law and Dispute Resolution. This
Agreement shall be governed by and construed in accordance with the laws of Maricopa County, United States of America, without
giving effect to any choice of law or conflict of law provisions. The Parties consent to the non-exclusive jurisdiction and venue
in the courts of Maricopa County in the city of Phoenix, AZ.

 

     

     

    

 

		9.	Termination

 

		a.	Termination on Notice. Either party may terminate
this agreement for any reason on 90 calendar days’ notice to the other party.

 

		b.	Termination for Material Breach. Each party
may immediately terminate this agreement by delivering notice of the termination to the other party, if

 

		I.	the other party fails to perform according to, or
otherwise materially breaches, any of its obligations, except in cases of Force-Majeure, and

 

		II.	the failure or breach continues for a period of 30
calendar Days’ after the injured party delivers notice to the breaching party reasonably detailing the breach.

 

		c.	Termination for Insolvency. If either party
becomes insolvent, bankrupt, or enters receivership, dissolution, or liquidation, the other party may immediately terminate this
agreement.

 

		d.	Termination Upon Expiration of Term. Either
party may terminate this agreement at the expiration of the then-current term by providing 90 calendar days’ notice to the other
party prior to the end of the then-current term.

 

		e.	Termination for Force-Majeure. In the event
the interruption of a Party’s obligations due to Force-Majeure continues for a period in excess of ninety (90) calendar days,
either Party shall have the right to terminate this Agreement upon thirty (30) calendar days’ prior written notice to the other
Party.

 

		f.	Termination Upon Completion of the Services. If
the Services have been completed, the agreement may be terminated immediately with the mutual agreement of both parties in writing.

 

		10.	Effect of Termination.

 

		a.	Termination. Upon the effective date of termination
of this Agreement, each party’s rights and obligations under this agreement will cease immediately, except for such legal obligations,
rights and duties as shall have accrued prior to the effective date of termination and except as otherwise expressly provided
in this Agreement or specified in other written agreements.

 

		b.	Survival. The parties’ obligations under articles
Work Product and License, Confidentiality, Interference with Business, and Effect of Termination and all other provisions of this
Agreement that by their nature extend beyond the termination of this Agreement will survive the termination of this agreement.

 

IN WITNESS WHEREOF, and intending to be legally
bound, the Parties have duly executed this Agreement by their authorized representatives as of the date first written above.

 

 

     

     

    

 

EXHIBIT A: Services

 

UUA is currently executing
agreements for initial projects and acquisitions in Southeast Asia. UCC is hereby tasked with assisting UUA in reviewing and editing
business plans, presentations, and other materials which will be used in initial equity fundraising.

 

UCC will provide assistance
in coordinating the raising of capital by presenting the above-mentioned materials to investors within its network. It may also
elect to invest its own capital. UUA intends to raise 10 million USD of equity funds, which will be used to secure debt financing
for projects. For funds raised into UUA directly, UCC will receive a commission. For direct investments made, UCC will obtain equity
in UUA with a profit sharing clause in the shareholder agreement.

 

UCC will also be tasked
with raising initial equity funding for individual projects, in which it mau obtain equity via direct investment or may receive
a commission on funds raised into UUA.

 

As growth occurs, UCC
will be assigned by UUA to provide training and consulting, which will be billed as authorized and ordered by UUA at their own
discretion; to begin at any time during the duration of this agreement.

 

     

     

    

 

EXHIBIT B: Consultancy Fees and Proceedures

 

 1. Fees for capital raised by UCC on behalf of UUA:

 

For equity funds raised: 1% of total raised

 

For debt
funding raised: 1.5% of total raised

 

Or

 

Direct investment of UCC’s funds
for equity in UUA at a cost of $100,000 per 0.1% of equity, with a minimum investment of $50,000.

 

 2. Fees for capital raised for individual projects:

 

For equity funds raised 1.25% of total raised

 

For debt
funding raised: 1.75% of total raised

 

Or

 

Direct investment of UCC’s funds
for equity in projects, to be determined and negotiated on a project by project basis

 

 3. When ordered and designated by UUA, management consulting and training fees to be billed hourly based on actual time contributed:

 

	Officers and Directors:	 	$	205	 
	Legal Specialists:	 	$	175	 
	Finance Specialists:	 	$	165	 
	Specialist Trainers:	 	$	105	 
	Management Consultants:	 	$	85	 
	Office Staff:	 	$	25	 

 

UCC may change this list of billable
rates at any time. Changes to the list will be effective the month after UUA receives written notice from UCC of the changes.

 

Related billable expenses will
be reimbursed as pre-approved in the monthly billings for consulting.

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