Document:

EX-10.3

 Exhibit 10.3 

Execution Copy 

OMNIBUS AMENDMENT No. 6 

THIS OMNIBUS AMENDMENT NO. 6, dated as of August 17, 2017 (this “Amendment”) is entered into by and among the
Transaction Parties (defined below) and relates to the following transaction documents (the “Transaction Documents”), in each case as the same may be amended, restated, modified and/or supplemented from time to time: (1) the
Third Amended and Restated Indenture and Servicing Agreement, dated as of September 1, 2014, by and among Marriott Vacations Worldwide Owner Trust 2011-1, as issuer (the “Issuer”), Marriott Ownership Resorts, Inc., as servicer
(the “Servicer” or “MORI”), and Wells Fargo Bank, National Association, as indenture trustee (the “Indenture Trustee”) and as back-up servicer (the “Back-Up Servicer”) (the
“Indenture”); (2) the Second Amended and Restated Note Purchase Agreement, dated September 15, 2014, by and among the Issuer, the Servicer, MORI SPC Series Corp., as seller (the “Seller”), Marriott
Vacations Worldwide Corporation, as performance guarantor (the “Performance Guarantor” or “MVW”), the Purchasers (as defined in the Transaction Documents) and Deutsche Bank AG, New York Branch, as administrative
agent (the “Administrative Agent”) (the “Note Purchase Agreement”); (3) the Second Amended and Restated Purchase Agreement, dated as of September 1, 2014, by and between MORI and the Seller (the
“Purchase Agreement”); (4) the Second Amended and Restated Sale Agreement, dated as of September 1, 2014, by and between the Seller and the Issuer (the “Sale Agreement”); (5) the Second Amended and
Restated Performance Guaranty, dated as of September 1, 2014, by the Performance Guarantor in favor or the Issuer and the Indenture Trustee (the “Performance Guaranty”); (6) the Custodial Agreement, dated as of
September 1, 2011, by and among Wells Fargo Bank, National Association, as custodian (the “Custodian”), the Issuer, the Indenture Trustee and the Servicer (the “Custodial Agreement”); (7) the
Administration Agreement, dated as of September 1, 2011, by and among the Issuer, MORI, as administrator (the “Administrator”), the Indenture Trustee and Wilmington Trust, National Association, as owner trustee (the
“Owner Trustee”) (the “Administration Agreement”); (8) the Amended and Restated Trust Agreement, dated September 28, 2011, by and between MVCO Series LLC, as owner (the “Owner” and
together with the Issuer, MORI, MVW, the Seller, the Performance Guarantor, the Administrative Agent, the Indenture Trustee, the Servicer, the Administrator, the Back-Up Servicer, the Custodian, the Owner Trustee, the Purchasers and the Funding
Agents, the “Transaction Parties”) and the Owner Trustee (the “Trust Agreement”); and (9) any other ancillary documents, agreements, supplements and/or certificates entered into or delivered in connection with
the foregoing. 
 RECITALS 

WHEREAS, the Transaction Parties desire to amend the Third Amended and Restated Standard Definitions attached or incorporated into each of the
Transaction Documents (the “Third Amended and Restated Standard Definitions”) in the manner set forth herein. 

 WHEREAS, the undersigned Purchasers and Funding Agents together constitute 100% of the Purchasers
and Funding Agents. 
 NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, and for other good and adequate
consideration, the receipt and sufficiency of which are hereby acknowledged, the Transaction Parties hereby agree as follows: 

Section 1.01. Amendment to the Standard Definitions 

The following definitions shall replace the corresponding definition in the Third Amended and Restated Standard Definitions: 

““Corporate Revolver Facility” shall mean that certain Credit Agreement, dated as of August 16,
2017, among MVW, MORI, as borrower, the subsidiary guarantors named therein, JPMorgan Chase Bank, N.A., as administrative agent and the several banks and other financial institutions or entities from time to time parties thereto, as such agreement
may from time to time be amended, supplemented or otherwise modified in accordance with its terms (except with respect to the definition of Financial Covenants and the defined terms used therein but not defined in the Third Amended and Restated
Standard Definitions, which shall be amended, supplemented or otherwise modified in accordance with the definition of “Financial Covenants”).” 

““Financial Covenants” shall mean the covenants set forth in the Corporate Revolver Facility in effect on
August 16, 2017 (without giving any effect to any amendment, supplement or modification thereto after such date) that relate to (A) Consolidated Secured Leverage Ratio, and (B) Consolidated Interest Coverage Ratio provided, to the
extent the Corporate Revolver Facility is amended, supplemented or otherwise modified after August 16, 2017, the definition of “Financial Covenants” and the defined terms used therein but not defined in the Third Amended and Restated
Standard Definitions, as amended, shall automatically be amended to reflect such amendments, supplements and/or modifications to the Corporate Revolver Facility so long as each Committed Purchaser (or affiliate thereof) is a lender under the
Corporate Revolver Facility at the time such amendment, supplement and/or modification is entered into.” 
 Section 2.01.
Representations and Warranties 
 MVW, MORI, the Seller and the Issuer hereby represent and warrant to each of the
other Transaction Parties that, after giving effect to this Amendment: (a) the representations and warranties set forth in each of the Transaction Documents by each of MVW, MORI, the Seller and the Issuer are true and correct in all material
respects on and as of the date hereof, with the same effect as though made on and as of such date (except to the extent that any representation and warranty expressly relates to an earlier date, then such earlier date), (b) on the date hereof,
no Default has occurred and is continuing, and (c) the execution, delivery and performance of this Amendment in accordance with its terms and the consummation of the transactions contemplated hereby by any of them do not and will not
(i) require any consent or approval of any Person, except for consents and approvals that have already been obtained, (ii) violate any applicable law, or (iii) contravene, conflict with, result in a breach of, or constitute a default
under their organization documents, as the same may have been amended or restated, or contravene, conflict with, result in a breach of or constitute a default under (with or without notice or lapse of time or both) any indenture, agreement or other
instrument, to which such entity is a party or by which it or any of its properties or assets may be bound. 

  
 2 

 Section 2.02. References in all Transaction Documents. 

To the extent any Transaction Document contains a provision that conflicts with the intent of this Amendment, the parties agree that the
provisions herein shall govern. 
 Section 2.03. Counterparts. 

This Amendment may be executed (by facsimile or otherwise) in any number of counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the same instrument. 
 Section 2.04. Governing Law; Consent
to Jurisdiction; Waiver of Jury Trial 
 THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE TRANSACTION PARTIES SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

THE PARTIES HERETO EACH SUBMIT TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND
OF ANY NEW YORK STATE COURT SITTING IN THE CITY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO OR INCIDENTAL TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AMENDMENT OR THE FACILITY DOCUMENTS. 

Section 2.05. Severability of Provisions. 

If any one or more of the covenants, agreements, provisions or terms of this Amendment shall be for any reason whatsoever held invalid, then
such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Amendment and shall in no way affect the validity or enforceability of the other provisions of this
Amendment. 
 Section 2.06. Continuing Effect. 

Except as expressly amended hereby, each Transaction Document shall continue in full force and effect in accordance with the provisions thereof
and each Transaction Document is in all respects hereby ratified, confirmed and preserved. 

  
 3 

 Section 2.07. Successors and Assigns. 

This Amendment shall be binding upon and inure to the benefit of the Transaction Parties and their respective successors and permitted assigns.

 Section 2.08 No Bankruptcy Petition. 

(a) Each party hereto hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all
outstanding Related Commercial Paper or other indebtedness of a Conduit, it will not institute against, or join any other Person in instituting against a Conduit any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or
other similar proceeding under the laws of the United States or any state of the United States or any other jurisdiction with authority over such Conduit. The provisions of this Section 2.08(a) shall survive the termination of this Amendment.

 (b) Each party hereto hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all
Notes and Exchange Notes, it will not institute against, or join any other Person in instituting against the Issuer or the Seller any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under
the laws of the United States or any state of the United States. The provisions of this Section 2.08(b) shall survive the termination of this Amendment. 

[Signature pages follow] 

  
 4 

 IN WITNESS WHEREOF, the parties below have caused this Amendment to be duly executed by their
respective duly authorized officers of the day and year first above written. 
  

							
	MARRIOTT VACATIONS WORLDWIDE OWNER TRUST 2011-1, as Issuer
		
	By:	 	Wilmington Trust, National Association, not individually, but solely in its capacity as Owner Trustee
			
		 	By:	 	/s/ Rachel L. Simpson
		 		 	Name:	 	Rachel L. Simpson
		 		 	Title:	 	Vice President
	
	 Address for notices:
 c/o Wilmington
Trust, National Association
 1100 North Market Street

Wilmington, Delaware 19801
  

Attention: Rachel L. Simpson
 Telephone Number:
(302) 636-6128
 Facsimile Number: (302) 636-4140

  

					
	MORI SPC SERIES CORP., as Seller
		
	By:	 	/s/ Greg A. Langford
		 	Name:	 	Greg A. Langford
		 	Title:	 	President
	
	 Address for notices:
 6649 Westwood
Boulevard
  
 Orlando, Florida 32821

Attention: General Counsel
 Telephone: (407) 206-6000

Facsimile: (407) 513-6680

 
					
	MARRIOTT OWNERSHIP RESORTS, INC., in its individual capacity and as Servicer and Administrator
		
	By:	 	/s/ Joseph J. Bramuchi
		 	Name:	 	Joseph J. Bramuchi
		 	Title:	 	Vice President
	
	 Address for notices:
 6649 Westwood
Boulevard
 Orlando, Florida 32821
  

Attention: General Counsel
 Telephone: (407) 206-6000

Facsimile: (407) 513-6680

  

					
	MARRIOTT VACATIONS WORLDWIDE CORPORATION, as Performance Guarantor
		
	By:	 	/s/ Joseph J. Bramuchi
		 	Name:	 	Joseph J. Bramuchi
		 	Title:	 	Vice President
	
	 Address for notices:
 6649 Westwood
Boulevard
 Orlando, Florida 32821
  

Attention: General Counsel
 Telephone: (407) 206-6000

Facsimile: (407) 513-6680

 
					
	MVCO SERIES LLC, as Owner
		
	By:	 	/s/ Greg A. Langford
		 	Name:	 	Greg A. Langford
		 	Title:	 	President
	
	 Address for notices:
 6649 Westwood
Boulevard
 Orlando, Florida 32821
  

Attention: General Counsel
 Telephone: (407) 206-6000

Facsimile: (407) 513-6680

 
					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Indenture Trustee, Back-Up Servicer and Custodian
		
	By:	 	/s/ Jennifer C. Westberg
		 	Name:	 	Jennifer C. Westberg
		 	Title:	 	Vice President
	
	 Address for notices:
  

Wells Fargo Bank, National Association
 MAC N9300-061

600 S. 4th Street,
 Minneapolis, Minnesota 55479

 
 Attention: Corporate Trust Services/Asset-Backed Administration

Facsimile Number:    (612) 667-3539
 Telephone
Number:   (612) 667-8058

  

					
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee
		
	By:	 	/s/ Rachel L. Simpson
		 	Name:	 	Rachel L. Simpson
		 	Title:	 	Vice President
	
	 Address for notice:
  

Wilmington Trust, National Association
 1100 North Market
Street
 Wilmington, Delaware 19801
  

Attention: Rachel L. Simpson
 Telephone Number:
(302) 636-6128
 Facsimile Number: (302) 636-4140

 
					
	DEUTSCHE BANK AG, NEW YORK BRANCH, as Administrative Agent
		
	By:	 	/s/ Daniel Gerber
		 	Name:	 	Daniel Gerber
		 	Title:	 	Director
		
	By:	 	/s/ Maureen Farley
		 	Name:	 	Maureen Farley
		 	Title:	 	Vice President
	
	 Address for notices:
 60 Wall
Street
 New York, New York 10005
  

Attention: Mary Conners
 Telephone: (212) 250-4731

Facsimile: (212) 797-5300

  

					
	MOUNTCLIFF FUNDING LLC as Conduit
		
	By:	 	/s/ Josh Borg
		 	Name:	 	Josh Borg
		 	Title:	 	Authorized Signatory
	
	 Address for notices:
 20 Gates
Management LLC
 30 Irving Place, 2nd Floor

New York, NY 10003
  

Attention: Vidrik Frankfather
 Telephone: (212) 295-4146

Facsimile: (212) 295-3785
 E-mail: mountcliff@20gates.com;
and mountcliff.group@db.com

 
					
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH as Alternate Purchaser
		
	By:	 	/s/ Patrick Duggan
		 	Name:	 	Patrick Duggan
		 	Title:	 	Authorized Signatory
		
	By:	 	/s/ Michael Eaton
		 	Name:	 	Michael Eaton
		 	Title:	 	Authorized Signatory
	
	 Address for notices:
 Eleven Madison
Avenue
 New York, NY 10010
  

Attention: Securitized Products Finance Financing and Liability Management

Telephone: (212) 538-6689
 Email:
abcp.monitoring@credit-suisse.com

            list.afconduitreports@credit-suisse.com

  

					
	CREDIT SUISSE AG, NEW YORK BRANCH as Funding Agent
		
	By:	 	/s/ Patrick Duggan
		 	Name:	 	Patrick Duggan
		 	Title:	 	Authorized Signatory
		
	By:	 	/s/ Michael Eaton
		 	Name:	 	Michael Eaton
		 	Title:	 	Authorized Signatory
	
	 Address for notices:
 Eleven Madison
Avenue
 New York, NY 10010
  

Attention: Securitized Products Finance Financing and Liability Management

Telephone: (212) 538-6689
 Email:
abcp.monitoring@credit-suisse.com

            list.afconduitreports@credit-suisse.com

 
					
	SUNTRUST BANK as Non-Conduit Committed Purchaser
		
	By:	 	/s/ David Hufnagel
		 	Name:	 	David Hufnagel
		 	Title:	 	Vice President
	
	 Address for notices:
 3333 Peachtree
Street NE
 10th Floor East

Atlanta, Georgia 30326
  

Attention: Kayla Williams and David Morley
 Telephone:
(404) 926-5475
 Facsimile: (404) 495-2171
 Email:
strh.afg@suntrust.com

  

					
	DEUTSCHE BANK AG, NEW YORK BRANCH as Non-Conduit Committed Purchaser
		
	By:	 	/s/ Daniel Gerber
		 	Name:	 	Daniel Gerber
		 	Title:	 	Director
		
	By:	 	/s/ Maureen Farley
		 	Name:	 	Maureen Farley
		 	Title:	 	Vice President
	
	 Address for notices:
 60 Wall Street
New
 York, New York 10005
  

Attention: Mary Conners
 Telephone: (212) 250-4731

Facsimile: (212) 797-5300

 
					
	BANK OF AMERICA, N.A. as Non-Conduit Committed Purchaser
		
	By:	 	/s/ Bryan S. Kearns
		 	Name:	 	Bryan S. Kearns
		 	Title:	 	Director
	
	 Address for notices:
 Bank of
America, National Association
 214 North Tryon Street, 15th Floor

NC1-027-15-01
 Charlotte, North Carolina 28255

Attention: ABS Banking & Finance c/o
 Carl Anderson /
Andrew Estes
 Telephone: 646-855-4242 / 980-387-2125
 Email:
carl.w.anderson@baml.com,
 andrew.estes@baml.com

  

					
	WELLS FARGO CAPITAL FINANCE, LLC as Non-Conduit Committed Purchaser
		
	By:	 	Ajay Jagsi
		 	Name:	 	Ajay Jagsi
		 	Title:	 	Vice President
	
	 Address for notices:
 14241 Dallas
Parkway, Suite 1300
 Dallas, Texas 75254
  

Attention: Ajay Jagsi
 Telephone: (972) 361-7220

Facsimile: (866) 719-9124
  

Accounts for Payments:
 ABA Number: 121-000-248

Account Number: 4124923707
 Attention: Latonya Whitfield

Reference: Marriott Vacations Worldwide Owner Trust 2011-1AMENDMENT
NO. 1 

TO

DEBT
CONVERSION AND SERIES A PREFERRED STOCK

PURCHASE
AGREEMENT

 

This
Amendment No. 1 to Debt Conversion and Series A Preferred Stock Purchase Agreement (this
“Amendment”) is made and entered into as of May 19, 2017, by and between Blow
& Drive Interlock Corporation, a Delaware corporation (the “Company”), and Laurence
Wainer, an individual (the “Purchaser”). Capitalized terms used but not otherwise defined herein
shall have the meanings given to such terms in the Stock Purchase Agreement (as defined below).

 

Recitals

 

WHEREAS,
Company and Purchaser are parties to that certain Debt Conversion and Series A Preferred Stock Purchase Agreement dated March
7, 2017 (the “Stock Purchase Agreement”), relating to Purchaser’s acquisition of shares of Company’s
Series A Preferred Stock in exchange for forgiveness of $25,537 in accrued salary Company owes Purchaser as set forth in the Stock
Purchase Agreement;

 

WHEREAS,
Purchaser has requested that Company agree to amend the Stock Purchase Agreement in order to accept Purchaser agreeing to the
full satisfaction of $45,000 in debt owed to Purchaser in exchange for the Shares of Series A Preferred Stock instead of the forgiveness
of $25,537 in accrued salary as is currently set forth in the Stock Purchase Agreement;

 

WHEREAS,
Company believes it is in its best interest to remove $45,000 in debt owed to Purchaser from its financial statements rather than
$25,537 in accrued salary owed to Purchaser;

 

Agreement

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties to the Stock Purchase Agreement hereby agree as follows:

 

1.
The parties agree to modify the terms of the Stock Purchase Agreement as necessary to signify the parties’ agreement that
the Purchase Price for the Shares of Series A Preferred Stock is Purchaser agreeing to forgive $45,000 in debt owed by Company
to Purchaser instead of the forgiveness of $25,537 in accrued salary.

 

2.
This Amendment is being made pursuant to Section 6(f) of the Stock Purchase Agreement.

 

3.
Scope. This Amendment relates only to the specific matters expressly covered herein. In all other respects, the Stock Purchase
Agreement shall remain in full force and effect in accordance with its terms.

 

    	 

    	 	 

    

 

4.
Counterparts. This Amendment may be executed in one or more counterparts, each of which when executed shall be deemed an
original, but all of which taken together shall constitute one and the same instrument. A signed copy of this Amendment delivered
by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an
original signed copy of this Amendment. No party shall raise the use of facsimile, e-mail or other means of electronic transmission
or similar format to deliver a signature page as a defense to the formation of a contract and each such party forever waives any
such defense.

 

5.
Applicable Law; Jurisdiction. This Amendment shall be governed by, and construed in accordance with, the laws of the State
of California, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. In
any action between any of the parties arising out of or relating to this Amendment each of the parties irrevocably and unconditionally
consents and submits to the exclusive jurisdiction of the appropriate federal or state court having jurisdiction over Los Angeles
County, California.

 

    	-2-

    	 	 	 

    

 

IN
WITNESS WHEREOF, each of the undersigned has duly executed and delivered this Amendment No. 1 to the Stock Purchase Agreement
as of the date first above written.

 

	BLOW
    & DRIVE INTERLOCK CORPORATION	 	LAURENCE
    WAINER
	 	 	 
	By:	/s/
    Laurence Wainer 	 	By:	/s/
    Laurence Wainer
	Name:
    	Laurence
    Wainer	 	Name:	Laurence
    Wainer
	Title:	Chief
    Executive Officer	 	 	 

 

Signature
Page to Amendment No. 1 to Stock Purchase Agreement

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