Document:

EX-10.2

 Exhibit 10.2 

FIRST AMENDMENT TO 
 SALE
AND SERVICING AGREEMENT 
 This First Amendment to Sale and Servicing Agreement, dated as of August 16, 2021 (this
“Amendment”), is by and among Santander Drive Auto Receivables LLC, as seller (the “Seller”), and Santander Consumer USA Inc. (“SC”), as servicer (in such capacity, the “Servicer”).

 WHEREAS, Drive Auto Receivables Trust 2018-4, as issuer (the “Issuer”), the
Seller, the Servicer, and Wilmington Trust, National Association, as indenture trustee (the “Indenture Trustee”) are parties to that certain Sale and Servicing Agreement, dated as of September 19, 2018 (as amended, supplemented
and modified from time to time, the “Sale and Servicing Agreement”); 
 WHEREAS, the Seller and the Servicer desire to
amend the Sale and Servicing Agreement as set forth herein; 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 SECTION 1. Definitions. Capitalized terms used
in this Amendment and not otherwise defined herein shall have the meanings assigned thereto in the Sale and Servicing Agreement, as amended hereby. 

SECTION 2. Amendments. Effective as of August 16, 2021, the Sale and Servicing Agreement is hereby amended as follows: 

(a) Section 3.2(a) is hereby amended by deleting the phrase “(B) in connection with a settlement in the event the Receivable
becomes a Defaulted Receivable” where it appears therein and replacing it with the phrase “(B) in connection with a modification, adjustment or settlement in the event the Receivable becomes a Severely Distressed Receivable”. 

(b) The following definition of “Severely Distressed Receivable” is added to Appendix A in the appropriate alphabetical order: 

““Severely Distressed Receivable” means, as of any date of determination, a Receivable (other than a Repurchased
Receivable) (i) that is 60 or more days delinquent or, if less than 60 days delinquent, the related Obligor has experienced a hardship and, in the judgment of the Servicer in accordance with its Customary Servicing Practices, it is reasonably
foreseeable that the Obligor will be unable to pay the Principal Balance of, and accrued and unpaid interest and fees on, such Receivable in accordance with its terms, (ii) that is a Defaulted Receivable, (iii) for which the Obligor is the
subject of a bankruptcy or other insolvency proceeding, (iv) for which the related Financed Vehicle has been repossessed (or for which the Servicer has initiated repossession proceedings), (v) for which the related Financed Vehicle has been
subject to theft or suffered destruction or damage that would be determined to be beyond repair in accordance with Customary Servicing Practices or (vi) for which the maturity date is in less than six months and, in the judgment of the Servicer
in accordance with its Customary Servicing Practices, it is reasonably foreseeable that the Obligor will be unable to pay the Principal Balance of, and accrued and unpaid interest and fees on, such Receivable by the maturity date.” 

  

					
		  		  	 DRIVE 2018-4: Amendment to

Sale and Servicing Agreement

 SECTION 3. Miscellaneous. The Sale and Servicing Agreement, as amended hereby, remains in
full force and effect. Any reference to the Sale and Servicing Agreement from and after the date hereof shall be deemed to refer to the Sale and Servicing Agreement as amended hereby, unless otherwise expressly stated. This Amendment shall be valid,
binding, and enforceable against a party only when executed by an authorized individual on behalf of the party by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act,
state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, in each case to the extent applicable; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual
signature. Each electronic signature or faxed, scanned, or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled
to conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or
authenticity thereof. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument. Notwithstanding the foregoing, with
respect to any notice provided for in this Amendment or any instrument required or permitted to be delivered hereunder, any party hereto receiving or relying upon such notice or instrument shall be entitled to request execution thereof by original
manual signature as a condition to the effectiveness thereof. This Amendment shall be governed by and construed in accordance with the internal, substantive laws of the State of New York without reference to the rules thereof relating to
conflicts of law, other than Sections 5-1401 and 5-1402 of the New York General Obligations Law, and the obligations, rights and remedies of the parties hereunder shall
be determined in accordance with such laws. 
 [Signatures follow] 

  

					
		  	2	  	 DRIVE 2018-4: Amendment to

Sale and Servicing Agreement

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

			
	SANTANDER DRIVE AUTO RECEIVABLES LLC, as Seller
		
	By:	 	 /s/ Mark McCastlain

	Name:	 	Mark McCastlain
	Title:	 	Vice President
	
	SANTANDER CONSUMER USA INC., as Servicer
		
	By:	 	 /s/ Corey Henry

	Name:	 	Corey Henry
	Title:	 	Vice President

  

					
		  	S-1	  	 DRIVE 2018-4: Amendment to

Sale and Servicing Agreementex_276683.htm

Exhibit 10.1

 

 

 

THIRD AMENDMENT

TO

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

This Third Amendment to Loan and Security Agreement is entered into as of August 16, 2021 (the "Amendment"), by and between HERITAGE BANK OF COMMERCE ("Bank") and QUICKLOGlC CORPORATION ("Borrower" ).

 

 

RECITALS

 

Borrower and Bank are parties to that certain Amended and Restated Loan and Security Agreement dated as of December 21, 2018 and as amended from time to time, including pursuant to that certain First Amendment to Amended and Restated Loan and Security Agreement dated as of November 6, 2019 and that certain Second Amendment to Amended and Restated Loan and Security Agreement dated as of December 11, 2020 (collectively, the "Agreement"). The parties desire to address certain Events of Default that have occurred prior to the date hereof and amend the Agreement in accordance with the terms of this Amendment.

 

NOW, THEREFORE, the parties agree as follows:

 

 

1.    Borrower acknowledges that there is an existing Event of Default arising from Borrower's failure to comply with minimum cash covenant set forth in Section 6.9(ii) of the Agreement on July 20, 2021 (the "Covenant Default"). Subject to the conditions contained herein and performance by Borrower of all of the terms of the Agreement after the date hereof, Bank waives the Covenant Default. Bank does not waive Borrower's obligations under such section after the date hereof and as amended herein, and Bank does not waive any other failure by Borrower to perform its obligations under the Loan Documents.

 

	 	
			2.

				
			Section 6.9 of the Agreement is amended and restated in its entirety to read as follows:

			

 

6.9         Financial Covenants.

 

(a)    Borrower shall maintain at all times a balance of unrestricted cash in the Pledged Account not less than the principal amount of all Advances owing from Borrower to Bank.

 

(b)    In addition to the above, Borrower shall maintain additional unrestricted cash in its accounts at Bank in an amount of at least Three Million Dollars ($3,000,000), measured (i) immediately prior to the funding of any Credit Extension and (ii) at all times that any Advance is outstanding.

 

3.    Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date of this Amendment , and that no Event of Default has occurred and is continuing (other than the Covenant Default).

 

4.    Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement , as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection with the Agreement.

 

 

5.    This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a" .pdf' format data file, such signature shall create !l- vapd and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or ".pdf ' signature page were an original hereof.

 

 

 

 

 

 

6.     As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:

 

	 	
			(a)

				
			the original signed Amendment, duly executed by Borrower;

			

 

(b)    a waiver and amendment fee equal to $5,000, pluus an amount equal to all Bank Expenses incurred through the date of this Amendment; and

 

(c)    such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

 

 

 

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

 

 

	
			 

				
			QUlCKLOGIC CORPORATION

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			

				
			 

			
	
			 

				
			Name: 

				
			Brian C. Faith

				
			 

			
	
			 

				
			Title: 

				
			CEO 

				
			 

			

 

        

 

 

 

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]