Document:

Exhibit

Ex 10.3

        
SERVICING AGREEMENT

between

CURO RECEIVABLES FINANCE II, LLC,
as Owner
and

CURO MANAGEMENT, LLC,
as Servicer
Dated as of April 8, 2020

This SERVICING AGREEMENT (this “Agreement”) is entered into as of April 8, 2020, by and between CURO RECEIVABLES FINANCE II, LLC, a Delaware limited liability company (the “Owner”), and CURO MANAGEMENT, LLC, a Delaware limited liability company, as servicer (the “Servicer”).
Capitalized terms used but not defined herein shall have the meanings set forth in Annex A attached hereto.
W I T N E S S E T H:
WHEREAS, the Owner desires to have the Servicer to master service the Serviced Assets, to perform certain of the duties of the Owner, and to provide such additional services consistent with the terms of this Agreement and the Loan Documents as the Owner may from time to time request; and
WHEREAS, the Servicer has the capacity to provide the respective services required hereby and is willing to perform such services for the Owner on the terms set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:
Section 1. Servicing Duties of the Servicer.
(a)    The Owner authorizes Curo Management, LLC, to act, and Curo Management, LLC, agrees to act, as an independent contractor, as the Servicer effective upon the date hereof.
(b)    From and after the date on which a Receivable or Participation Interest, as applicable, is sold to the Owner, the Servicer shall service and administer each related Serviced Asset for the benefit of the Owner and shall extend, amend or otherwise modify such Serviced Asset, by complying in all material respects with the following (collectively, the “Servicing Standard”): (A) reasonable care, using that degree of skill and attention that the Servicer exercises with respect to comparable receivables that it services for itself or others, and (B) Applicable Law.
(c)    The Servicer shall have full power and authority, acting alone or through any party properly designated by it hereunder, including any Sub-Servicer, to do any and all things in connection with such servicing and administration which it may deem necessary or desirable, consistent with the terms of this Servicing Agreement and the Servicing Standard.  Without limiting the generality of the foregoing, unless such power is revoked by the Owner on account of the occurrence of a Servicer Default, the Servicer shall have full power and authority (i) to make withdrawals from the applicable servicer collection account permitted by the terms of this Servicing Agreement, the Loan Agreement or any other Loan Document and (ii) to execute and deliver, on behalf of the Owner, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and, after the delinquency of any Receivable and to the extent permitted under and in compliance with applicable Servicing Standard and the Loan Agreement, to commence collection proceedings with respect to such Receivables.  The Owner shall furnish the Servicer with any documents reasonably requested by the Servicer, including powers of attorney, as necessary or appropriate to enable the Servicer (or any Sub-Servicer on its behalf) to carry out its servicing and administrative duties hereunder.
(d)    The Servicer shall collect and process all collections on the Serviced Assets in accordance with the terms and conditions set forth in Section 2.3 of the Loan Agreement and the Servicing Multi-Party Agreement.
Section 2.     Administrative Duties of the Servicer.
(a)    The Servicer agrees to perform all of the duties assigned to it in the Loan Agreement, and shall take all appropriate action with respect to the following matters under the Loan Agreement:
(i)    upon written request of the Owner, executing and delivering such further instruments and do further acts as may be reasonably necessary or proper to carry out more effectively the purpose of the Loan Agreement; 
(ii)    preparing officer’s certificates with respect to the Loan Agreement;
(iii)    preparing, executing and filing any reports or other information which are required to be prepared or filed by the Owner in order to comply with federal, state or foreign securities laws, or exemptions thereunder; and
(iv)    any other duties expressly required to be performed by the Servicer under the Loan Agreement or any other Loan Document.
(b)    In carrying out the foregoing duties or any of its other obligations under this Agreement, the Servicer may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be no less favorable to the Owner than would be available from unaffiliated parties, that Owner shall have no responsibility or liability for any fees payable to such Affiliates to perform such obligations as contemplated by this Agreement and that the Owner shall not be deemed pursuant to this Section 2(b) to enter into any contractual obligations with such Affiliates.
(c)    To the fullest extent permitted by law, the Owner shall indemnify, defend and hold harmless the Servicer and its successors, assigns, directors, officers, agents, employees and servants (collectively, the “Servicer Indemnified Parties”) from and against, any and all liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all reasonable out-of-pocket costs, expenses and disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever (collectively, “Liabilities”) which may at any time be imposed on, incurred by, or asserted against the Servicer or any Servicer Indemnified Party in any way relating to or arising out of this Agreement or any other Loan Document, the Serviced Assets or any action or inaction of the Owner or any other Person; provided, that the Owner shall not be liable for or required to indemnify a Servicer Indemnified Party from and against expenses arising or resulting from such Servicer Indemnified Party’s own willful misconduct, bad faith or gross negligence.  The indemnities contained in this Section 2(c) shall survive the resignation and removal of the Servicer or the termination of this Agreement.
(d)    Subject to Sections 4 and 5, the Servicer shall administer, perform or supervise the performance of such other activities in connection with the Serviced Assets (including the Loan Documents) as are not covered by any of the foregoing provisions and are reasonably within the capability of the Servicer.  In no case may Servicer use any identifiable information, including consumers’ nonpublic personal information and related account performance and status information, for any purpose other than as provided in this Agreement; provided, however, that Servicer is permitted to use nonidentifiable, aggregated consumer information obtained in connection with its activities undertaken pursuant to this Agreement.
(e)    Notwithstanding anything to the contrary in this Agreement, the Servicer shall not be obligated to, and shall not, take any action that the Owner directs the Servicer not to take or which could reasonably be expected to result in a violation or breach of the Owner’s covenants, agreements or obligations under any of the Loan Documents.
(f)    The Servicer shall maintain appropriate books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection by the Owner at any time during normal business hours. 
Section 3.     Reports and Information.  
(a)    At the times and in the manner required by Section 6.1 of the Loan Agreement, the Servicer shall deliver to the Owner and the Agent the reports described therein.
(b)    The Servicer shall furnish in writing to the Owner and the Agent from time to time such additional information regarding the Serviced Assets as the Owner or the Agent shall reasonably request.
Section 4.     Independence of the Servicer.  For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the supervision of the Owner with respect to the manner in which it accomplishes the performance of its obligations hereunder; provided, however, Servicer shall be subject to the Owner’s third-party vendor management program.  Unless expressly authorized by the Owner in this Agreement or otherwise, the Servicer shall have no authority to act for or represent the Owner in any way and shall not otherwise be deemed an agent of the Owner.
Section 5.     No Joint Venture.  Nothing contained in this Agreement (i) shall constitute the Servicer and the Owner as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others.
Section 6.     Other Activities of Servicer.  Nothing herein shall prevent the Servicer or its respective Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar capacity for any other person or entity even though such person or entity may engage in business activities similar to those of the Owner.
Section 7.     Term of Agreement; Resignation and Removal of Servicer.
(a)    This Agreement shall continue in force until the earlier to occur of (i) the Owner no longer owns any Receivables or Participation Interests, and (ii) subject to Section 7(d), the delivery of written notice of termination by the Owner to the Servicer pursuant to Section 7(c), in each case upon which event this Agreement shall automatically terminate unless otherwise agreed in writing between the Servicer and the Owner.
(b)    Subject to Section 7(d), the Servicer may resign its duties hereunder by providing the Owner with at least 60 days’ prior written notice.
(c)    Subject to Section 7(d), and subject to the prior written consent of the Agent so long as the Loan Agreement remains outstanding, the Owner may remove the Servicer immediately upon written notice of termination from the Owner to the Servicer if any of the following events shall occur (each, a “Servicer Termination Right – Owner”):
(i)    the Servicer shall default in the performance of any of its duties under this Agreement and, after notice of such default, shall not cure such default within 30 days (or, if such default cannot be cured in such time, shall not give within 30 days such assurance of cure as shall be reasonably satisfactory to the Owner); or
(ii)    the Servicer files or consents to the filing of any petition, either voluntary or involuntary, to take advantage of any applicable insolvency, bankruptcy, liquidation or reorganization statute, or makes an assignment for the benefit of creditors; or
(iii)    the Servicer fails to maintain, in any material respect, all necessary licenses and approvals in each jurisdiction in which it is performing the primary servicing function for any of the Serviced Assets under this Agreement. 
The Servicer agrees that if any of the events specified in clause (ii) of this Section 7(c) shall occur, it shall give written notice thereof to the Owner within seven (7) days after the occurrence of such event. 
(d)    No termination, resignation or removal of the Servicer pursuant to this Section shall be effective until (i) a successor Servicer shall have been appointed by or on behalf of the Owner with the prior written consent of the Agent so long as the Loan Agreement remains outstanding, and (ii) such successor Servicer shall have agreed in writing to be bound by the terms of this Agreement in the same manner as the Servicer is bound hereunder.
(e)    Agent may terminate this Agreement upon the occurrence and continuance of an Event of Default under the Loan Agreement by delivery of written notice of termination from Agent to Owner and Servicer (a “Servicer Termination Right – Agent” and, together with the Servicer Termination Right – Owner, each a “Servicer Termination Right”): 
If a successor Servicer does not take office within 60 days after the retiring Servicer resigns or is removed, the resigning or removed Servicer or the Owner may petition any court of competent jurisdiction for the appointment of a successor Servicer.
In the event that the Servicer resigns or is terminated hereunder, the Servicer shall use its commercially reasonable efforts to and shall cooperate with the Owner and take other reasonable steps requested by the Owner to assist in the orderly and efficient transfer of the administration of the Serviced Assets to the successor Servicer.
Section 8.     Action upon Termination, Resignation or Removal of the Servicer.  Promptly upon the effective date of termination of this Agreement or the resignation or removal of the Servicer pursuant to Section 7, the Servicer shall be entitled to be paid all fees and reimbursable expenses, including any reasonable out-of-pocket attorneys’ fees, accruing to it to the date of such termination, resignation or removal.  The Servicer shall forthwith upon such termination pursuant to Section 7 deliver to the successor Servicer all property and documents of or relating to the Serviced Assets then in the custody of the Servicer, or if this Agreement has been terminated, to the Owner.  In the event of the resignation or removal of the Servicer pursuant to Section 7, the Servicer shall cooperate with the Owner and take all reasonable steps requested to assist the Owner in making an orderly transfer of the duties of the Servicer.
Section 9.     Compensation. The Servicer will be entitled to receive the Servicing Fee for the performance of the duties and provision of the services called for in this Agreement in accordance with, and subject to, the Loan Agreement.  The Servicing Fee shall be payable on each Payment Date for the immediately prior Servicing Period in accordance with Section 2.4 of the Loan Agreement.  Any opinion, filing or other services performed by the Servicer hereunder that generates additional costs shall be at the expense of the Owner.
Section 10.     Sub-Servicers; Collection Agents.  
(a)    The Servicer may appoint one or more Persons (including any Affiliate) as a sub-servicer (each a “Sub-Servicer”) with respect to some or all of the Serviced Assets to perform any of the Servicer’s obligations hereunder from time to time in its sole discretion; provided, however, that such servicing arrangement and the term of the related subservicing agreement (if any) must provide for the servicing of the Serviced Assets in a manner equivalent or greater than the Servicing Standard; provided, further, that the Servicer shall remain obligated and be liable to the Owner for the servicing and administering of the Serviced Assets in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such Sub-Servicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Serviced Assets.
(b)    The Servicer shall be entitled to terminate the subservicing of the Serviced Assets by any Sub-Servicer so appointed at any time in its sole discretion, provided, that any subservicing agreement entered into by Servicer with any such Sub-Servicer shall terminate by its terms no later than thirty (30) days after the Servicer is terminated as the servicer under this Agreement. 
(c)    Each Sub-Servicer shall be entitled to compensation for its services as a Sub-Servicer as agreed to by the Servicer and such Sub-Servicer provided that any sub-servicing fees payable to the Sub-Servicer in respect of its servicing activities shall be payable out of the Servicing Fee.
(d)    Any subservicing arrangement that may be entered into and any other transactions or services relating to the Serviced Assets involving a Sub-Servicer in its capacity as such shall be deemed to be solely between the Sub-Servicer and the Servicer alone, and the Owner shall not be deemed party thereto and shall have no claims, rights, obligations, duties, or liabilities with respect to the Sub-Servicer in such capacity.
(e)    The Owner may, from time to time, enter into Collection Agency Agreements with Collection Agents for the collection of delinquent or defaulted accounts.  Any such Collection Agent shall not be deemed a “Sub-Servicer” hereunder and the Servicer shall have no liability with respect to the acts or omissions of any such Collection Agent.  Any Collection Fees shall be paid directly by the Owner in accordance with the Loan Agreement.  Notwithstanding the foregoing, the Servicer shall cooperate with the Owner and provide such assistance as is reasonably necessary to transfer servicing of applicable Serviced Assets to the related Collection Agent.
Section 11.     Representations and Warranties of the Servicer.  The Servicer hereunder hereby makes the following representations and warranties as of the date hereof, and as of the date of the delivery of each Monthly Servicing Report, on which representations and warranties the Owner shall be deemed to rely in entering into this Agreement:  
(a)    Organization.  It is an organization validly existing and in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its incorporation or organization and has, in all material respects, full power and authority to own its properties and conduct its business as presently owned or conducted, and to execute, deliver and perform its obligations under this Agreement and each other Loan Document to which it is a party.
(b)    Due Qualification.  It is in good standing and duly qualified to do business (or is exempt from such requirements) and (i) the Servicer has obtained all necessary licenses and approvals in each jurisdiction in which it is performing the primary servicing function for any of the Serviced Assets under this Agreement (or has determined that such licenses are not required) or (ii) each Sub-Servicer has represented and warranted to the Servicer that such Sub-Servicer has obtained all necessary licenses and approvals in each jurisdiction in which such Sub-Servicer is performing the primary servicing function for any of the Serviced Assets under this Agreement, except where the failure to so qualify or obtain licenses or approvals would not have a material adverse effect on its ability to execute and deliver, or perform under, this Agreement or any other Loan Document to which it is a party.
(c)    Due Authorization.  The execution, delivery, and performance by it of this Agreement and the other agreements and instruments executed and delivered by it as contemplated hereby, have been duly authorized it by all necessary action on the part of such party.
(d)    Binding Obligation.  This Agreement and each other Loan Document to which it is a party constitutes a legal, valid and binding obligation of such party, enforceable in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws or by general principles of equity (whether considered in a proceeding at law or in equity).
(e)    No Conflict.  The execution and delivery of this Agreement and each Loan Document to which it is a party by it, and the performance by it of the transactions contemplated by this Agreement and the fulfillment by it of the terms hereof and thereof applicable to such party, will not conflict with, violate or result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any material indenture, contract, agreement, mortgage, deed of trust or other instrument to which it is a party or by which it or its properties are bound.
(f)    No Violation.  The execution and delivery by it of this Agreement and each other Loan Document to which it is a party, the performance by it of the transactions contemplated by this Agreement and each other Loan Document to which it is a party and the fulfillment by it of the terms hereof and thereof applicable to such party will not conflict with or violate any Applicable Law applicable to such party.
(g)    No Proceedings. Servicer is not a party to any material pending or threatened action, suit, proceeding or investigation related to its respective business, (ii) there is no pending or, to the knowledge of Servicer, threatened action, suit, proceeding or investigation involving Servicer or its respective business that could reasonably be expected to prevent or materially delay the consummation by Servicer of the transactions contemplated herein, (iii) Servicer has not had any reason to believe that any material action, suit, proceeding or investigation may be brought or threatened against its business, (iv) Servicer is not a party or subject to any order, writ, injunction, judgment or decree of any Governmental Authority, (v) there is no action, suit, proceeding or investigation initiated by Servicer currently pending and (vi)  Servicer has not had any existing accrued and/or unpaid indebtedness or similar obligations to any Governmental Authority or any other governmental payor.
(h)    Compliance with Laws.  Servicer (i) is in compliance with all Applicable Law, and (ii) is not in violation of any order of any Governmental Authority or other board or tribunal, except, in the case of both (i) and (ii), where noncompliance or violation could not reasonably be expected to be, have or result in a material adverse effect on its ability to execute and deliver, or perform under, this Agreement or any other Loan Document to which it is a party.  Servicer has not received any notice that Servicer is not in material compliance in any respect with any of the requirements of any of the foregoing.  Servicer has maintained in all material respects all records required to be maintained by any applicable Governmental Authority.
(i)    Foreign Assets Control Regulations and Anti-Money Laundering.  Servicer is in compliance in all material respects with all applicable U.S. economic sanctions laws, Executive Orders and implementing regulations as promulgated by the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”), and all applicable anti-money laundering and counter-terrorism financing provisions of the Bank Secrecy Act and all regulations issued pursuant to it.  Servicer is not (i) a Person designated by the U.S. government on OFAC's list of Specially Designated Nationals and Blocked Persons (the “SDN List”), (ii) a Person who is otherwise the target of U.S. economic sanctions laws such that a U.S. Person cannot deal or otherwise engage in business transactions with such Person or (iii) controlled by (including by virtue of such Person being a director or owning voting shares or interests), or acts, directly or indirectly, for or on behalf of, any Person on the SDN List or a foreign government that is the target of U.S. economic sanctions prohibitions such that the entry into, or performance under, this Agreement or any other Loan Document would be prohibited under U.S. law.
(j)    USA PATRIOT Act.  Servicer is in compliance in all material respects with (a) the Trading with the Enemy Act, and each of OFAC's foreign assets control regulations and any other enabling legislation or executive order relating thereto, (b) the USA PATRIOT Act and (c) other federal or state laws relating to "know your customer" and anti-money laundering rules and regulations.  No part of the proceeds of any Loan (as defined in the Loan Agreement) will be used directly or indirectly for any payments to any government official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977.  
Section 12.     Notices.  Any notice, report or other communication given hereunder shall be in writing, delivered by mail, overnight courier, electronic communication or facsimile and addressed as follows:
(a)    if to the Owner, to:
CURO Receivables Finance II, LLC
c/o CURO Management LLC
3527 North Ridge Road
Wichita, KS 67205
Attention: Don Gayhardt
E-Mail:  don.gayhardt@curo.com

With a copy to:

CURO Financial Technologies Corp.
3527 North Ridge Road
Wichita, KS 67205
Attention: Vin Thomas
E-Mail:  vinthomas@curo.com

 
With a copy to the Servicer, at the address provided below. 

(b)    if to the Servicer, to:
CURO Management LLC
3527 North Ridge Road
Wichita, KS 67205
Attention: Don Gayhardt
E-Mail:  don.gayhardt@curo.com

With a copy to:

CURO Financial Technologies Corp.
3527 North Ridge Road
Wichita, KS 67205
Attention: Vin Thomas
E-Mail:  vinthomas@curo.com

or to such other address as any party shall have provided to the other parties in writing.  Any notice required to be delivered hereunder shall be deemed given if such notice is mailed by certified mail, postage prepaid, hand delivered or faxed to the address of such party as provided above.
Section 13.     Limitation of Liability; Indemnification.
(a)    Except as provided in Section 13(b), neither the Servicer nor any of the directors, officers, partners, members, managers, employees, or agents of the Servicer in its capacity as Servicer shall be under any liability to the Owner or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as Servicer in accordance with this Agreement; provided, however, that this provision shall not protect the Servicer or any such Person against contractual liability under this Agreement for any breach of warranties or representations made herein, or any failure to perform any express contractual duties set forth herein, or any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of its duties hereunder.  The Servicer and any director, officer, employee, partner, member or manager or agent of the Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Servicer) respecting any matters arising hereunder.  The Servicer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its duties as Servicer in accordance with this Agreement and which in its reasonable judgment may involve it in any material expense or liability.  In furtherance of its obligations hereunder, the Servicer may, in its sole discretion, undertake any such legal action which it may deem necessary or desirable for the benefit of the Owner with respect to this Agreement and the rights and duties of the parties hereto and the interests of the Owner hereunder.
(b)    Subject to Section 13(a), the Servicer shall indemnify and hold harmless the Owner, the Agent, each Lender and their respective directors, officers, employees, partners, members or managers and agents (each, an “Indemnified Person”) from and against any and all loss, liability, claim, action, suit, cost, expense, damage or injury, of any kind and nature whatsoever, including any judgment, award, settlement, fines, reasonable attorneys’ fees and other costs or expenses incurred in connection with the defense of any action, Proceeding, investigation or claim (any of the foregoing, “Losses”) suffered or sustained by any of them by reason of any acts or omissions of the Servicer which are in breach of this Agreement or which arise by reason of willful misfeasance, bad faith or negligence in the Servicer’s performance of its duties hereunder; provided that the Servicer shall not be obligated to indemnify any such Indemnified Person for any Losses that arise from the negligence or willful misconduct of such Indemnified Person or its affiliates, directors, officers, employees, partners, members, managers or agents. 
Section 14.     Amendments.  This Agreement may be amended from time to time by a writing signed by the Servicer and the Owner, with the prior written consent of the Agent so long as the Loan Agreement remains outstanding.
Section 15.     Successors and Assigns.  This Agreement shall be binding on the parties’ successors and assigns.  
Section 16.     Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 17.     Headings.  The section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the meaning, construction or effect of this Agreement.
Section 18.     Counterparts.  This Agreement and any waiver or amendment hereto may be executed in counterparts and by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.  This Agreement and each of the other Loan Documents may be executed and delivered by facsimile, portable document format (.pdf), or other Electronic Transmission all with the same force and effect as if the same was a fully executed and delivered original manual counterpart.  Delivery of an executed electronic signature page of this Agreement and each of the other Loan Documents by facsimile, portable document format (.pdf), or Electronic Transmission shall be as effective as delivery of a manually executed counterpart hereof and each party to this Agreement and each of the other Loan Documents agrees that it will be bound by its own signature and that it accepts the facsimile, portable document format (.pdf), or other electronic signature of each other party to this Agreement and each of the other Loan Documents.  For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent of a manually signed paper Agreement or any Loan Document which has been converted into electronic form (such as scanned portable format (.pdf)), or an electronically signed Agreement or any Loan Document converted into another format, for transmission, delivery and/or retention. The Administrative Agent may, at its option, create one or more copies of such Agreement in an electronic form (“Electronic Copy”), which shall be deemed created in the ordinary course of the Administrative Agent’s business, and destroy the original paper document.  Administrative Agent may also require that any such documents and signatures be confirmed by a manually signed original thereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile, portable document format (.pdf), or other Electronic Transmission document or signature.  The words “execution,” “executed,” “signed,” “signature,” and words of like import in this paragraph shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.
“Electronic Transmission” means each document, instruction, authorization, file, information and any other communication transmitted, posted or otherwise made or communicated by electronic mail (“e-mail”) or E-Fax, or otherwise to or from an electronic system or other equivalent service.
Section 19.     Severability.  Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Section 20.     Non-Petition. Notwithstanding any prior termination of the Owner or this Agreement, the Servicer shall not at any time with respect to the Owner, acquiesce, petition or otherwise invoke or cause the Owner to invoke the process of any court or governmental authority for the purpose of commencing or sustaining a case against the Owner under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, conservator, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Owner or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Owner.
Section 21.     Third-Party Beneficiary.  Notwithstanding anything to the contrary in this Agreement, both the Owner and Servicer agree that the Agent shall be deemed to be a third-party beneficiary of this Agreement and has the authority to enforce the provisions hereof.
[Signature page follows.]

1

123012898v2
123012898v4

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the day and year first above written.

CURO RECEIVABLES FINANCE II, LLC, 
a Delaware limited liability company

By:  /s/Don Gayhardt    
Name: Donald F. Gayhardt Jr.
Title: President & Chief Executive Officer
     

CURO MANAGEMENT, LLC,
as Servicer

By:  /s/Don Gayhardt    
Name: Donald F. Gayhardt Jr.
Title: President & Chief Executive Officer

 

ANNEX A-- DEFINITIONS

“Affiliate” has the meaning set forth in the Loan Agreement.

“Agent” means Midtown Madison Management LLC, as agent under the Loan Agreement.

“Applicable Law” has the meaning set forth in the Loan Agreement. 

“Bank Receivable” has the meaning set forth in the Loan Agreement.

“Business Day” has the meaning set forth in the Loan Agreement.

“Collection Agency Agreement” means a written agreement between the Owner and a Collection Agent.

“Collection Agent” means any collection agent retained by the Owner from time to time.

“Collection Fees” means any fees, expenses, reimbursements and other compensation payable to a Collection Agent by the Owner pursuant to a Collection Agency Agreement.

“Collections” has the meaning set forth in the Loan Agreement.

“Governmental Authority” has the meaning set forth in the Loan Agreement.

“Lender” has the meaning set forth in the Loan Agreement.

“Liabilities” is defined in Section 2(c).

“Loan Agreement” means the Loan and Security Agreement, dated as of April 8, 2020, by and among the Owner, the Lenders and the Agent.

“Loan Document” has the meaning set forth in the Loan Agreement.

“Monthly Servicing Report” has the meaning set forth in the Loan Agreement.

“OFAC” is defined in Section 11(i).
 
“Owner” is defined in the preamble of this Agreement.
 
“Participation Interest” has the meaning set forth in the Loan Agreement.

“Payment Date” has the meaning set forth in the Loan Agreement.

“Person” has the meaning set forth in the Loan Agreement.

 

“Proceeding” shall mean any suit in equity, action at law or other judicial or administrative proceeding. 

“Receivable” has the meaning set forth in the Loan Agreement.

“SDN” is defined in Section 11(i).

“Serviced Asset” means (a) each Receivable owned by the Borrower, (b) each Participation Interest owned by the Borrower and (c) each Bank Partner Receivable related to a Participation Interest owned by the Borrower.

“Servicer” is defined in the preamble of this Agreement.
 
“Servicer Indemnified Parties” is defined in Section 2(c).

“Servicing Fee” means, for any Servicing Period, an amount equal to the product of (a) 2.00%, (b) the daily average Receivable Balance of all Receivables serviced hereunder during such Servicing Period, and (c) a fraction, the numerator of which is the number of calendar days during such Servicing Period and the denominator of which is 360.

“Servicing Period” means a calendar month.

“Servicing Standard” is defined in Section 1(b).

“Sub-Servicer” is defined in Section 10(a).Exhibit

Ex 10.4

LOAN PURCHASE AGREEMENT 
(Tier I)
THIS LOAN PURCHASE AGREEMENT (this “Agreement”), is made as of April 8, 2020 (the “Effective Date”), by and between (a) CURO Receivables Holdings II, LLC, a Delaware limited liability company (the “Purchaser”) and (b) Advance Group, Inc., a Nevada corporation, Avio Credit, Inc., a Delaware corporation, Cash Colorado, LLC, a Nevada limited liability company, Concord Finance, Inc. a Nevada corporation, FMMR Investments, Inc., a Nevada corporation, Galt Ventures, LLC, a Kansas limited liability company, Principal Investments, Inc., a Nevada corporation, SCIL, Inc., a Nevada corporation, and Speedy Cash Illinois, Inc., a Nevada corporation (collectively, the “Sellers”).  Each party to this Agreement may be referred to herein as a “Party” or, collectively, as the “Parties.”  Capitalized terms used herein without definition are used as defined in the Loan Agreement, dated as of the date hereof (the “Loan Agreement”), by and among CURO Receivables Finance II, LLC, the other Account Obligors (as defined therein) party thereto, the financial institutions from time to time party thereto as Lenders, and Midtown Madison Management LLC, as administrative, payment and collateral agent for itself, as a Lender, and for the other Lenders (in such capacities, “Agent”).
Recitals
WHEREAS, Purchaser wishes to purchase, and each Seller wishes to sell, certain Eligible Receivables (as defined in the Loan Agreement) or, in the case of Eligible Bank Partner Receivables, the related Participation Interest) on the terms and conditions stated herein.
NOW, THEREFORE, in consideration of the promises and the covenants hereinafter set forth and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
Agreement
1.Definitions.  For the purposes of this Agreement, the following terms shall have the meanings indicated:
(a)    “Confidential Customer Information” shall mean Customer Information or other information about Account Obligors that is required to be kept confidential by the Applicable Law or any Governmental Authority.
(b)    “Customer Information” shall mean nonpublic information relating to Account Obligors including without limitation, names, addresses, telephone numbers, e-mail addresses, credit information, account numbers, social security numbers, loan balances or other loan information, and lists derived therefrom and any other information required to be kept confidential by Governmental Authorities or Applicable Law.
(c)    “Insolvency or Liquidation Proceeding” shall mean (i) any voluntary or involuntary case or proceeding under any Debtor Relief Law with respect to any Seller, (ii) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, 

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liquidation, reorganization or other similar case or proceeding with respect to such obligor or with respect to any of any Seller’s assets, (iii) any liquidation, dissolution, reorganization or winding up of any Seller, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy or (iv) any assignment for the benefit of creditors or any other marshaling of assets and liabilities of any Seller.
(d)    “Material Contract” shall mean any contract or other arrangement to which any Seller is a party (other than this Agreement) for which breach, nonperformance, cancellation, termination or failure to renew could reasonably be expected to have a Material Adverse Effect.
(e)    “Proceeding” shall mean any action, suit, proceeding, inquiry or investigation before or by any court, public board or government agency.
(f)    “Purchase Price” shall mean an amount equal to one-hundred percent (100%) of the Receivable Balance of the Eligible Receivables sold by (or, in the case of Eligible Bank Partner Receivables, the related Participation Interest sold by) any Seller to the Purchaser in any Purchase.
(g)    “Purchased Receivable” shall mean any Receivable or Participation Interest purchased by Purchaser hereunder.
2.    Purchase of Receivables.
(a)    Purchase.  On the Effective Date and from time to time (each such date of sale, a “Sale Date”), Purchaser shall purchase from each Seller, and each Seller shall sell to Purchaser, the Receivables (or, in the case of Eligible Bank Partner Receivables, the related Participation Interest) listed on Schedule I hereto, as may be updated from time to time by any Seller (each such purchase, a “Purchase”) for the Purchase Price of the Eligible Receivables sold (or, in the case of Eligible Bank Partner Receivables, the related Participation Interest sold) in such Purchase.  On each Sale Date, the applicable Seller shall and hereby does sell, transfer, assign, set over and convey to Purchaser all rights, title and interest of such Seller in and to the Receivables sold (or, in the case of Eligible Bank Partner Receivables, the related Participation Interest sold) to Purchaser on such Sale Date.  The Receivables Balance of the Purchased Receivables shall be calculated and agreed to by the Parties, and each Seller’s applicable portion of any applicable Purchase Price shall be paid by Purchaser to each Seller by wire transfer of immediately available funds in accordance with instructions previously provided in writing by each Seller.  The Purchase Price may be paid in several transfers of funds which in total will equal the Purchase Price.  To the extent the Purchase Price for the related Purchased Receivables exceeds the aggregate amount of cash available to be paid by Purchaser, such excess shall be treated as a capital contribution by the applicable Seller to Purchaser.  The closing (“Closing”) of any Purchase shall occur at a location mutually agreeable to the Parties.  At the Closing, each Seller shall provide access or otherwise make available to Purchaser or one of its designees all of the Portfolio Documents.
(b)    No Recourse.  The sale of Purchased Receivables to Purchaser (i) is without recourse, representation or warranty of any kind, either expressed or implied, except as may otherwise be expressly contained herein, including, without limitation, the representations and warranties set forth in Section 5(a), and (ii) to the extent permitted to be transferred under applicable Law, includes 

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all claims, suits, causes of action and any other right of any Seller whether known or unknown, against, Account Obligors, agents, representatives, contractors, advisors or any other Person arising under or in connection with the underlying Portfolio Documents or that is in any way based on or related to any of the foregoing or the loan transactions governed thereby, including, without limitation, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold pursuant to this Agreement.
(c)    Securities Laws.  Purchaser acknowledges and agrees that (i) the sale of Purchased Receivables hereunder does not involve, nor is it intended in any way to constitute, the sale of a “security” within the meaning of any applicable securities laws and (ii) it is not contemplated that any filing will be made with any regulatory agency or pursuant to the securities laws of any other jurisdiction in connection with the sale of Purchased Receivables hereunder.
(d)    Rights and Remedies.  In the event of an indemnifiable event as contemplated under Section 12(a) or in the event of any failure by Purchaser to perform any of its obligations under this Agreement, each Seller shall have all rights and remedies available under this Agreement at law and in equity.
(e)    True Sale.  Each Seller and Purchaser agree that the transactions contemplated hereby are intended to be and shall constitute sales of the Purchased Receivables transferred pursuant to Section 2(a) above, and are not intended to be financings or loans by Purchaser to such Seller.  The sale of each Purchased Receivable pursuant to Section 2(a) above transfers to Purchaser all of such Seller’s right, title and interest in and to such Purchased Receivable, and such Seller will not retain any residual rights with respect to any Purchased Receivable.  It is intended that the beneficial interest in and title to the Purchased Receivables shall not be part of such Seller’s estate in the event of the filing of a bankruptcy petition by or against such Seller under any Debtor Relief Law.
(f)    Grant of Security Interest.  Notwithstanding the intent of the Parties, in the event that the transactions contemplated hereby are construed to be financings by Purchaser to the related Seller or the Purchased Receivables and other Purchased Receivable Assets are determined or held to be property of a Seller, then (a) such Seller hereby grants to Purchaser a present and continuing security interest in and to the following, whether now existing or hereafter created: all Purchased Receivables (including all related property, including all of the related Portfolio Documents for such Purchased Receivables and all proceeds (as defined in the UCC) of all of the foregoing (collectively, the “Purchased Receivable Collateral”)); (b) this Agreement shall also be deemed to be a security agreement within the meaning of Article 9 of the UCC; (c) the transfers of the Purchased Receivables and other Purchased Receivable Collateral provided for herein shall be deemed to be a grant by such Seller to Purchaser of a first priority lien upon and security interest in all of such Seller’s right, title and interest in and to the Purchased Receivable Collateral; (d) the possession by Purchaser of the Purchased Receivables and other Purchased Receivable Collateral and such other items of property as constitute instruments, chattel paper, money, negotiable documents, general intangibles or accounts shall be deemed to be “possession by the secured party” for purposes of perfecting the lien or security interest pursuant to the UCC, including Section 9-305 of the UCC; (e) Purchaser is hereby authorized to take all necessary or appropriate actions to perfect its security interest in the Purchased Receivable Collateral, including without limitation authorization to file 

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financing statements on form UCC-1 naming Purchaser as secured party and such Seller as debtor, and identifying the Purchased Receivable Collateral as collateral therein; and (f) notifications to Persons holding such property and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of Purchaser for the purpose of perfecting such lien or security interest under the UCC.  Any assignment of the interests of Purchaser in the Purchased Receivables pursuant to any provision hereof shall also be deemed to be an assignment of any lien or security interest created hereby in the Purchased Receivable Collateral.
Each Seller shall not create or permit any security interest in Purchased Receivable Collateral, except in favor of Purchaser, and, if necessary, shall modify any previously executed loan or security agreement to eliminate any security interest granted in the Purchased Receivable Collateral, including without limitation any security interest in such Purchased Receivable Collateral as proceeds or as after acquired property.
To the extent consistent with this Agreement, each Seller and Purchaser shall take such actions as may be deemed reasonably necessary or appropriate such that, if this Agreement were deemed to create a lien upon or security interest in the Purchased Receivable Collateral and all such reasonably necessary or appropriate actions had been taken, such lien or security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement, including, without limitation, the execution and delivery by such Seller to Purchaser of all assignments, security agreements, financing statements and other documents Purchaser reasonably requests, in form and substance reasonably satisfactory to Purchaser.
(g)    Information Sharing.  With respect to the sharing of any Customer Information or Confidential Customer Information relating to any Account Obligor with any affiliated or non-affiliated company, Purchaser, its Affiliates and agents shall comply with Applicable Law.  Additionally, Purchaser and its Affiliates and agents shall not sell, transfer or otherwise convey Customer Information to any other Person other than in connection with a subsequent sale of the Purchased Receivables to a third party subject to Section 7 or to the Servicer or any subsequent servicer that is servicing the Purchased Receivables on behalf of the Purchaser.
3.    Privacy.  Purchaser shall not distribute any Customer Information received from any Seller (or copies thereof) to any Person, except (A) as required by applicable Applicable Law or any Governmental Authority and to service and administer the Purchased Receivables, (B) to its Affiliates or (C) to its attorneys, accountants, and other parties to whom disclosure is required pursuant to litigation to enforce this Agreement or to defend the same, or in connection with tax filings.
4.    Costs and Expenses.  No Party shall be responsible for any other Party’s costs, expenses, liabilities and disbursements incurred or paid in connection with this Agreement, or matters relating to or arising therefrom.

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5.    Representations and Warranties.
(a)    Seller Representations.  The representations and warranties made by each Seller shall not merge into any document associated herewith, shall survive and continue until the termination of this Agreement, and all of such representations and warranties made by each Seller under this Section 5(a) shall be enforceable at law or in equity against each Seller, its successors and assigns, by Purchaser and its successors and assigns.  Each Seller hereby makes the following representations and warranties to Purchaser as of the date hereof and, with respect to each Purchased Receivable, as of the related Sale Date:
(i)    Organization and Good Standing.  Each Seller is a limited liability company or corporation, as applicable, duly organized under the laws of the State of its formation or incorporation, validly existing and in good standing under the laws of such State, and has full power, authority and the legal right to own its properties and conduct its business as now conducted, and to execute, deliver and perform its obligations under this Agreement;
(ii)    Due Qualification.  Each Seller (A) is duly qualified to do business and is in good standing as a foreign limited liability company in each jurisdiction where such qualification is necessary in order to perform its duties hereunder, (B) has obtained all licenses and approvals as required under federal and state law that are necessary to perform its duties hereunder and (C) is in compliance with its organizational documents;
(iii)    Due Authorization; Enforceability.  Each Seller has the full power and authority to execute and deliver this Agreement and to perform all its obligations hereunder, including, without limitation, selling and transferring the Purchased Receivables hereunder.  The execution, delivery and performance of this Agreement by each Seller including, without limitation, the sale and transfer of the Purchased Receivables hereunder, have been duly authorized by all necessary limited liability company action on its part and do not and will not contravene any provision of its organizational documents.  This Agreement has been duly executed and delivered by each Seller and constitutes the legal, valid and binding obligation of each Seller, enforceable against each Seller in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and/or other similar laws and general equitable principles;
(iv)    No Conflict.  The execution, delivery and performance by any Seller of this Agreement and the transactions contemplated hereby do not violate, conflict with or result in a breach or default under the organizational documents of any Seller, any federal, state or local law, rule or regulation applicable to any Seller or any agreement or other document to which any Seller is a party or by which it or any of its property is bound;
(v)    No Proceeding.  There is no litigation, administrative proceeding or investigation before any court, tribunal or governmental body presently pending or threatened against any Seller which would have a Material Adverse Effect on the transactions contemplated by, or any Seller’s ability to perform its obligations under this Agreement;

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(vi)    Receivables.  The transfer of the Purchased Receivables in accordance with the terms hereof, shall be valid and free from all Taxes, Liens and charges with respect to the transfer thereof.  Upon receipt of the Purchased Receivables hereunder, Purchaser will be vested with good and marketable title thereto, free and clear of all Taxes, Liens and charges with respect to the transfer thereof and shall be able to enforce the Purchased Receivables in accordance with their terms;
(vii)    No Consents.  Each Seller is not required to obtain any consent, authorization, approval, order, license, franchise, permit, certificate or accreditation of, or make any filing or registration with, any court, governmental agency or any regulatory or self-regulatory agency or authority or any other Person in order for it to execute, deliver or perform any of its obligations under or contemplated by this Agreement;
(viii)    Contracts.  Each Seller (A) is not a party to any contract, agreement or instrument, the violation of which, or default under which, by the other party(ies) to such contract, agreement or instrument could reasonably be expected to result in a Material Adverse Effect or (B) is not in violation of any term of or in default under any Material Contract that could reasonably be expected to result in, either individually or in the aggregate, a Material Adverse Effect;
(ix)    Absence of Litigation.  There is no Proceeding pending or, to the knowledge of each Seller, threatened in writing against or affecting any Seller which (A) could reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect, (B) if adversely determined, could reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect or (C) questions the validity of this Agreement or any of the transactions contemplated hereby or thereby or any action taken or to be taken pursuant hereto or thereto;
(x)    No Undisclosed Events, Liabilities, Developments or Circumstances.  No event, liability, development or circumstance has occurred or exists, or is contemplated to occur with respect to any Seller or its business, properties, prospects, operations or financial condition, that would reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect; 
(xi)    Conduct of Business; Regulatory Permits.  No Seller is in violation of any term of or in default under its certificate of formation or operating agreement or other governing documents.  No Seller is in violation of any judgment, decree or order or any statute, ordinance, rule or regulation applicable to such Seller (A) purporting to enjoin or restrain the execution, delivery or performance of this Agreement, or directing that the transactions provided for herein not be consummated as herein provided, or (B) to the extent any such violation would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.  Each Seller possesses all material consents, authorizations, approvals, orders, licenses, franchises, permits, certificates, accreditations and permits and all other appropriate regulatory authorities necessary to conduct its business, and no Seller has received any notice of proceedings relating to the revocation or modification of any such consents, authorizations, approvals, orders, licenses, franchises, permits, certificates, accreditations or permits.  Each Seller is in compliance with all laws, rules, regulations and ordinances of all applicable Governmental Authorities, including, without limitation, all applicable state regulatory and similar laws, rules, regulations and orders, except to the extent any 

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such non-compliance would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; and
(xii)    Eligibility.  As of the date of the related Purchase, each Purchased Receivable sold by such Seller to Purchaser on such date is (or, in the case of Participation Interests, the related Bank Partner Receivable is) an Eligible Receivable.
(b)    Seller Repurchase Obligations.  
(i)    If any of the representations or warranties of a Seller contained in Section 5(a) are not true with respect to any Purchased Receivable on the applicable Sale Date (any such Purchased Receivable, an “Ineligible Receivable”), then on the date that is ten (10) Business Days (or such later date as may be agreed to in writing by both Purchaser and the Agent) after the earlier of (i) such Seller’s actual knowledge of such breach and (ii) receipt by such Seller of written notice thereof given by Purchaser or the Agent, such Seller shall repurchase such Ineligible Receivable from Purchaser (each such date on which such a repurchase occurs, a “Reassignment Date”) on such Reassignment Date for an amount equal to the outstanding Receivable Balance of such Ineligible Receivable (the “Reassignment Amount”).  Such Reassignment Amount shall be paid (i) if such Reassignment Date is also a Sale Date, by reducing the Purchase Price payable by Purchaser to such Seller on such Sale Date, and (ii) if such Reassignment Date is not also a Sale Date or to the extent such Reassignment Amount exceeds the Purchase Price payable on such Sale Date, by such Seller making a wire transfer to the Collateral Account in an amount equal to such excess. 
(ii)    Purchaser and each Seller agree that after payment of the Reassignment Amount for an Ineligible Receivable as provided above, Purchaser hereby automatically and without further action reconveys such Ineligible Receivable and all proceeds thereof to such Seller, without representation or warranty, other than the absence of Liens arising through or under Purchaser.
(c)    Purchaser Representations.  The representations and warranties made by Purchaser shall not merge into any document associated herewith and shall survive and continue until the termination of this Agreement and shall be enforceable at law or in equity against Purchaser, its successors and assigns, by any Seller and their successors and assigns.  Purchaser hereby makes the following representations and warranties to each Seller as of the date hereof and, with respect to each Purchased Receivable, as of the related Sale Date:
(i)    Organization and Good Standing.  Purchaser is a limited liability company duly formed under the laws of the State of Delaware, validly existing and in good standing under Delaware law and has full power, authority and the legal right to own its properties and conduct its business as now conducted, and to execute, deliver and perform its obligations under this Agreement.
(ii)    Due Qualification.  Purchaser is (A) duly qualified to do business and is in good standing as a foreign limited liability company in each jurisdiction where such qualification is necessary in order to perform its duties hereunder, (B) has obtained all licenses and approvals as required under federal and state law that are necessary to perform its duties hereunder and (C) is in compliance with its organizational documents;

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(iii)    Due Authorization; Enforceability.  Purchaser has the full power and authority to execute and deliver this Agreement and to perform all its obligations hereunder.  The execution, delivery and performance of this Agreement by Purchaser have been duly authorized by all necessary trust action on its part and do not and will not contravene any provision of its organizational documents.  This Agreement has been duly executed and delivered by Purchaser and constitutes the legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and/or other similar laws and general equitable principles;
(iv)    No Conflict.  The execution, delivery and performance by Purchaser of this Agreement and the transactions contemplated hereby do not violate, conflict with or result in a breach or default under the organizational documents of Purchaser, any federal, state or local law, rule or regulation applicable to Purchaser or any agreement or other document to which Purchaser is a party or by which it or any of its property is bound;
(v)    No Proceeding.  There is no litigation, administrative proceeding or investigation before any court, tribunal or governmental body presently pending or threatened against Purchaser which would have a material adverse effect on the transactions contemplated by, or Purchaser’s ability to perform its obligations under this Agreement;
(vi)    Purchaser Accepts “As-Is” Condition.  EXECUTION OF THIS AGREEMENT SHALL CONSTITUTE AN ACKNOWLEDGEMENT BY PURCHASER THAT THE PURCHASE OF EACH PURCHASED RECEIVABLE WAS ACCEPTED WITHOUT REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OR OTHERWISE (OTHER THAN THE REPRESENTATIONS AND WARRANTIES OF EACH ORIGINATOR CONTAINED IN THIS AGREEMENT) IN AN “AS-IS”, “WITH ALL FAULTS” CONDITION BASED SOLELY ON PURCHASER’S OWN INSPECTION.  Purchaser acknowledges and agrees that no Seller has nor does represent, warrant or covenant the nature, accuracy, completeness, enforceability or validity of any of the Receivables or Portfolio Documents.  All documentation, information, analysis and/or correspondence, if any, which is or may be sold, transferred, assigned and conveyed to Purchaser with respect to any and all Purchased Receivables or the Portfolio Documents are done so on an “as is” basis, with all faults; and
(vii)    Investment Representation.  Purchaser hereby represents and warrants to each Seller that (A) the purchase of Purchased Receivables is a legal investment for Purchaser under applicable laws, (B) Purchaser has acquired and is acquiring the Purchased Receivables for its own account and not with a view to the sale, transfer or other distribution thereof other than in accordance with the exercise of any contractual rights of redemption it may have, (C) Purchaser realizes that the Purchased Receivables are not registered under any securities laws, (D) Purchaser understands that its purchase of Purchased Receivables involves a high degree of risk, (E) Purchaser has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risk of the purchase of Purchased Receivables hereunder, (F) Purchaser can afford a complete loss of the sums advanced and to be advanced hereunder, (G) Purchaser acknowledges that it has been offered an opportunity to ask questions of and receive answers from officers of each Seller concerning all material aspects of this Agreement and the Purchased Receivables, and that 

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any request for such information has been fully complied with to the extent any Seller possesses such information or can acquire it without unreasonable effort or expense and (H) Purchaser recognizes that no governmental agency has passed upon the Purchased Receivables or this Agreement or made any finding or determination as to their fairness.
6.    Covenants of Purchaser.  The following covenants shall be binding upon Purchaser and any subsequent purchasers or assignees of any of all of the Purchased Receivables:
(a)    Compliance with Law.  In the performance of its collection efforts with respect to the Purchased Receivables, Purchaser agrees that it will comply with all requirements of the Gramm‐Leach‐Bliley Act and all applicable federal Laws including but not limited to the federal Fair Debt Collections Practices Act.  
(b)    Use of Names.  Purchaser or any subsequent purchaser or assignee shall use only Purchaser’s own name or the name of any subsequent purchaser or assignee when taking action in respect of any Purchased Receivable; provided that the Servicer may use its own name on behalf of the Purchaser when the Servicer is servicing any Purchased Receivable.
(c)    Information Sharing.  With respect to the sharing of any Customer Information relating to any Account Obligor with any affiliated or non-affiliated company, Purchaser and each subsequent purchaser or assignee shall comply with the requirements of all applicable federal, state and local laws, rules and regulations, including, without limitation, the requirements of Regulation P as set forth in 15 U.S.C. §6801, et seq.  Additionally, Purchaser and each subsequent purchaser or assignee shall not sell, transfer or otherwise convey Customer Information to any other Person other than in connection with a subsequent sale of the Purchased Receivables or to the Servicer or any subsequent servicer that is servicing the Purchased Receivables on behalf of the Purchaser.
(d)    Encryption System.  The Purchaser and each subsequent purchaser or assignee agrees to use an encryption system for any receipt and/or transmittal of data relating to the Purchased Receivables.
(e)    Compliance.  In the performance of its collection efforts, if any, and in the course of owning the Purchased Receivables, Purchaser and each subsequent purchaser or assignee agrees at all times to conform and comply, and shall require anyone acting for or on its behalf to conform and comply, with all Applicable Law applicable to the conduct of such activities and to the ownership, transfer or sale of the Purchased Receivables including, without limitation, the requirements of the Fair Debt Collection Practices Act (15 U.S.C. §1692 et seq.), the Fair Credit Reporting Act (“FCRA”), the U.S. Bankruptcy Code, and all usury laws.  For any Purchased Receivable for which the applicable statute of limitations has run, Purchaser and each subsequent purchaser or assignee will not falsely represent that a lawsuit will be filed if the Account Obligor does not pay.  Purchaser represents and warrants that it (or any entity it engages to collect debts) and each subsequent purchaser or assignee (or any entity such subsequent purchaser or assignees uses to collect debts) shall be licensed to collect any amounts due in the jurisdiction in which the Account Obligor lives or, if appropriate, maintains a domicile, if so required by such jurisdiction’s laws or regulations.  If Purchaser and a subsequent purchaser or assignee reports to a major credit reporting agency such as Experian, Equifax and TransUnion, Purchaser and each subsequent purchaser or assignee will 

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report in its name alone or as such reporting agencies or the FCRA or other applicable law requires Purchaser to report.
(f)    Information Security.  The Purchaser and each subsequent purchaser or assignee shall implement and maintain administrative, technical and physical safeguards designed to ensure the security of Customer Information pursuant to the Federal Financial Institutions Examination Council’s  Interagency Guidelines and the Applicable Law (“Interagency Guidelines”), including but not limited to the following:  (1) access controls on information systems, including controls to authenticate and permit access only to authorized individuals and controls to prevent its representatives from providing Customer Information to unauthorized individuals who may seek to obtain this information through fraudulent means; (2) access restrictions at physical locations containing Customer Information, such as buildings, computer facilities, and records storage facilities to permit access only to authorized individuals; (3) encryption of electronic Customer Information, including while in transit or in storage on networks or systems to which unauthorized individuals may have access; (4) procedures designed to ensure that information system modifications are consistent with the information security measures; (5) dual control procedures, segregation of duties, and employee background checks for representatives with responsibilities for or access to Customer Information; (6) monitoring systems and procedures to detect actual and attempted attacks on or intrusions into information systems; (7) response programs that specify actions to be taken when Purchaser detects unauthorized access to information systems, including immediate reports to the other parties; (8) measures to protect against destruction, loss or damage of Customer Information due to potential environmental hazards, such as fire and water damage or technological failures; (9) training staff to implement the information security measures; (10) regular testing of key controls, systems and procedures of the information security measures by independent third parties or staff independent of those that develop or maintain the security measures; and (11) appropriate measures to completely and permanently destroy “consumer information” (as defined in the Interagency Guidelines) by shredding, permanently erasing, or otherwise permanently rendering consumer information inaccessible and illegible.  The Purchaser and each subsequent purchaser or assignee shall respond promptly and thoroughly to any requests for information concerning the respective information security measures implemented by such party.
(g)    Furnishing Information to Major Credit Bureaus.  Purchaser and each subsequent purchaser or assignee has the right to report an Account Obligor’s delinquency on a Receivable to a consumer reporting agency, including the three major credit bureaus (i.e., Experian, TransUnion, Equifax).
(h)    Notification of Account Obligors and Third Parties.  If required by Applicable Law, Purchaser and each subsequent purchaser or assignee shall notify an Account Obligor in writing that a Purchased Receivable has been sold to Purchaser or such subsequent purchaser or assignee.
7.    Right of Transfer.  Purchaser may assign the Purchased Receivables and/or its rights under this Agreement to any other entity subject to such assignee and each successor assignee agreeing to be bound by the terms set forth in this Agreement including Section 6.
8.    Termination.  This Agreement shall terminate upon the final payment or other liquidation of the last outstanding Purchased Receivable.

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9.    Effect of Agreement and Relationship of Parties; Integration.  This Agreement is not intended to constitute, and shall not be construed to establish, a partnership or joint venture among any of the Parties.  The Parties will have no obligations or responsibilities to each other except as specifically stated herein.
10.    Intention of the Parties.
(a)    The relationship between each Seller and Purchaser hereunder is not intended to be that of debtor and creditor.
(b)    It is the intention of the Parties that the sale of the Purchased Receivables pursuant to this Agreement shall be an absolute sale, without recourse, of the Purchased Receivables (and the Parties agree to treat the transfer of the Purchased Receivables as an absolute sale rather than a secured financing).
11.    Miscellaneous.
(a)    Notices.  Except as otherwise expressly provided herein, all notices required or agreed to be given pursuant hereto shall be in writing and shall be deemed to have been properly given, served and received (i) if delivered by messenger, when delivered, (ii) if mailed, on the third (3rd) Business Day after deposit in the United States of America mail certified, postage prepaid, return receipt requested, (iii) if by facsimile or e-mail, upon sender’s transmission, or (iv) if delivered by reputable overnight express courier, freight prepaid, the next Business Day after delivery to such courier.  Notices shall be addressed to the Parties as set forth below:
If to Purchaser:
CURO Receivables Holdings II, LLC
c/o CURO Management LLC
3527 North Ridge Road
Wichita, KS 67205
Attn:  Don Gayhardt
E-Mail:  don.gayhardt@curo.com
With a copy to:
CURO Financial Technologies Corp.
3527 North Ridge Road
Wichita, KS 67205
Attn:  Vin Thomas
E-Mail:  vinthomas@curo.com

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If to any Seller:
c/o CURO Management LLC
3527 North Ridge Road
Wichita, KS 67205
Attn:  Don Gayhardt
E-Mail:  don.gayhardt@curo.com
With a copy to:
CURO Financial Technologies Corp.
3527 North Ridge Road
Wichita, KS 67205
Attn:  Vin Thomas
E-Mail:  vinthomas@curo.com
The Parties may change their addresses for notice by serving written notice upon all other Parties.
(b)    Execution in Counterparts.  This Agreement and any waiver or amendment hereto may be executed in counterparts and by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.  This Agreement and each of the other Loan Documents may be executed and delivered by facsimile, portable document format (.pdf), or other Electronic Transmission all with the same force and effect as if the same was a fully executed and delivered original manual counterpart.  Delivery of an executed electronic signature page of this Agreement and each of the other Loan Documents by facsimile, portable document format (.pdf), or Electronic Transmission shall be as effective as delivery of a manually executed counterpart hereof and each party to this Agreement and each of the other Loan Documents agrees that it will be bound by its own signature and that it accepts the facsimile, portable document format (.pdf), or other electronic signature of each other party to this Agreement and each of the other Loan Documents.  For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent of a manually signed paper Agreement or any Loan Document which has been converted into electronic form (such as scanned portable format (.pdf)), or an electronically signed Agreement or any Loan Document converted into another format, for transmission, delivery and/or retention. The Administrative Agent may, at its option, create one or more copies of such Agreement in an electronic form (“Electronic Copy”), which shall be deemed created in the ordinary course of the Administrative Agent’s business, and destroy the original paper document.  Administrative Agent may also require that any such documents and signatures be confirmed by a manually signed original thereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile, portable document format (.pdf), or other Electronic Transmission document or signature.  The words “execution,” “executed,” “signed,” “signature,” and words of like import in this paragraph shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic 

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Ex 10.4

Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.
“Electronic Transmission” means each document, instruction, authorization, file, information and any other communication transmitted, posted or otherwise made or communicated by electronic mail (“e-mail”) or E-Fax, or otherwise to or from an electronic system or other equivalent service.
(c)    Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of law provisions thereof.
(d)    Severability of Provisions.  Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.
(e)    Complete Agreement; Successors and Assigns.  This Agreement constitutes the complete agreement between the Parties with respect to the subject matter hereof and supersedes all existing agreements and all oral, written, or other communications between the Parties concerning its subject matter.  The Parties make no representations or warranties to each other, except as specifically set forth in or specified by this Agreement.  All prior representations and statements made by any Party or its representatives, whether verbally or in writing, are deemed to have been merged into this Agreement.  This Agreement shall be binding upon the Parties and their respective successors and permitted assigns in particular the covenants set forth in Section 6 of this Agreement which shall apply to each subsequent purchaser or assignee of any or all of the Purchased Receivables provided however, that no Seller may assign any of its rights or obligations hereunder.
(f)    Waivers and Amendments.  No delay on the part of a Party in the exercise of any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise by such Party of any right, power or remedy preclude other or further exercise thereof, or the exercise of any other right, power or remedy.  No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by each of the Parties.
(g)    References to Sections and Agreement; Captions.  Unless otherwise indicated either expressly or by context, any reference in this Agreement to a “Section” shall be deemed to refer to a Section to this Agreement.  All references herein to this Agreement shall, as of any time after the date hereof, be deemed to include all amendments hereto which have been made prior to such time in accordance with Section 11(f).  Section captions, headings and titles used in this Agreement are for convenience only, and shall not affect the construction of this Agreement.
(h)    Jurisdiction, Venue and Service of Process.  The Parties hereby consent to the exercise of jurisdiction over its person and its property by any court of competent jurisdiction situated in New York, New York (whether it be a court of the State of New York or a court of the United States of America situated in New York, New York) for the enforcement of this Agreement or in any other controversy, dispute or question arising hereunder, and each Party hereby waives any and all personal or other rights to object to such jurisdiction for such purposes.  Each Party, for itself and its successors 

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Ex 10.4

and assigns, hereby waives any objection which it may have to the laying of venue of any such action or suit at any time, each Party agrees that service of process may be made, and personal jurisdiction over such Party obtained, by service of a copy of the summons, complaint and other pleadings required to commence such litigation by personal delivery or by United States of America certified or registered mail, return receipt requested, addressed to such Party at its address for notices as provided in this Agreement.  Each Party waives all claims of lack of effectiveness or error by reasons of any such service.
(i)    Confidentiality.  All oral and written information about each of the Parties, their respective businesses and customers, and this Agreement (collectively, the “Records”), are valuable and proprietary assets.  Each of the Parties (and each of their respective employees and agents) shall treat the Records as strictly confidential and, except as expressly authorized hereunder, will not disclose such Records to any Person (other than its Affiliates and, in the case of Purchaser, to the Servicer, proposed transferees of the Purchased Receivables, the Agent and the Lenders) or use such Records other than in accordance therewith.  Each Party will use its best efforts to ensure that its employees and agents maintain such confidentiality.  Each Party will notify the other Parties immediately upon receiving a subpoena or other legal process about any other Party’s Records and will cooperate with the other Parties to comply with or oppose the subpoena or legal process.  This Section 11(i) will not apply to information, documents, and material that are in or enter the public domain other than through a wrongful act or omission of a Party.
(j)    Jury Waiver.  THE PARTIES HEREBY EACH WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS.  THE PARTIES EACH REPRESENT TO EACH OTHER THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.  IN THE EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL WITHOUT A JURY.
(k)    Compliance with Law and Regulation.  The performance of each of the Parties under this Agreement is subject to all applicable Applicable Law and any Governmental Authority and each Party covenants to comply with all applicable Applicable Law and the lawful and reasonable actions or requests of duly authorized Governmental Authorities in connection with the matters contemplated by this Agreement.  If any Party becomes aware of any change in any Applicable Law affecting the performance of obligations by any Party under this Agreement, it shall promptly thereafter provide written notice of the same to the other Parties, provided that the failure to provide such notice shall not relieve any Party of its obligation to comply with all applicable Applicable Law as may change from time to time.  Nothing in this Agreement shall be construed as compelling any Party to act in violation of any applicable Applicable Law.
(l)    Limitations on Liability/Waiver of Claims.  Each Seller and Purchaser knowingly, voluntarily and intentionally waive any right to claim for punitive damages in connection with any 

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Ex 10.4

claim or dispute, action or proceeding against any other Party arising under or in connection with this Agreement, in tort, at law or in equity, or by virtue of any statute or otherwise.
(m)    Provision of Information. Until this Agreement shall have terminated, each Seller shall, to the extent not prohibited by any applicable Requirement of Law, in addition to the foregoing, furnish to Purchaser upon reasonable advance request such additional reports or information, including, without limitation, updated financial data or credit reports or information required by any applicable Applicable Law, and copies of such documents as may be contained in the loan file for each Purchased Receivable. All such reports, documents or information shall be provided by and in accordance with all reasonable written instructions and directions that Purchaser may give.  Any Seller may require that Purchaser pay or advance to such Seller all reasonable costs and expenses of such Seller incurred in connection with such Seller’s performance under, or compliance with any request of Purchaser under this Section 11(m).
(n)    Survival.  Except as otherwise expressly provided herein, all the representations, warranties, terms and covenants of the Parties including, but not limited to indemnifications, shall survive any Purchase and the termination of this Agreement.
(o)    Cooperation.  Each Party shall cooperate in good faith regarding the implementation of the transactions contemplated by this Agreement.
12.    Indemnification Provisions.
(a)    Indemnity.
(i)    By each Seller.  Each Seller (an “Seller Indemnifying Party”) shall, jointly and severally, indemnify and hold harmless Purchaser, its respective Affiliates and their respective members, managers, officers, directors, trustees, agents and employees (collectively, “Purchaser Indemnified Parties”), from and against any claims, loss, cost, liability, damage or expense (including, without limitation, reasonable and documented attorney’s fees and expenses) (“Indemnified Amounts”) that arise out of or relate to (A) any breach by any Seller Indemnifying Party of its express representations, warranties, covenants or other responsibilities set forth in this Agreement or (B) any willful misconduct or gross negligence by any Seller Indemnifying Party or any of its officers, directors, agents, employees, representatives or assignees with respect to the Purchased Receivables; provided that that a Seller shall not be liable pursuant to this indemnity for any Indemnified Amounts (A) arising due to the deterioration in the credit quality or market value of the Purchased Receivables to the extent that such credit quality or market value was not misrepresented in any material respect by such Seller or any of its Affiliates, (B) arising from the failure of any Account Obligor to pay amounts due and owing under any Purchased Receivables unless such failure resulted from the material breach of any covenant of or a misrepresentation by such Seller hereunder or from such Seller’s or its Affiliates’ fraud, gross negligence or willful misconduct, or (C) to the extent that a court having competent jurisdiction shall have determined by a final judgment (not subject to further appeal) that such Indemnified Amount resulted from (i) the fraud, gross negligence or willful misconduct of such Purchaser Indemnified Party or (ii) a material breach of any Loan Document by such Purchaser Indemnified Party.

15

Ex 10.4

(ii)    By Purchaser.  Purchaser (the “Purchaser Indemnifying Party” and, together with each Seller Indemnifying Party, the “Indemnifying Parties” and each, individually, an “Indemnifying Party”) shall indemnify and hold harmless any Seller, its Affiliates and its members, managers, officers, directors, agents and employees (collectively, “Seller Indemnified Parties” and, together with the Purchaser Indemnified Parties, the “Indemnified Parties” and each, individually, an “Indemnified Party”), from and against any claims, loss, cost, liability, damage or expense (including, without limitation, reasonable attorney’s fees and costs of suits) that arise out of or relate to (A) any breach by such Purchaser Indemnifying Party of its express representations, warranties, covenants or other responsibilities set forth in this Agreement or (B) any willful misconduct or gross negligence by any Purchaser Indemnifying Party or any of its respective officers, directors, agents, employees, representatives or assignees with respect to the Purchased Receivables.  Purchaser Indemnifying Parties shall not be liable to any Seller Indemnified Party for the foregoing to the extent the Losses arise from any such Seller Indemnified Party’s gross negligence or willful misconduct, as determined by final non-appealable order of a court of competent jurisdiction.
(iii)    Limitations on an Seller’s Indemnification Obligations.  Purchaser acknowledges that it has purchased the Purchased Receivables “AS IS,” without reliance on any representations or warranties of any Seller except as expressly provided herein, and that the Purchase Price of each Purchase reflects such fact.  A Seller shall not be obligated to pay any Indemnified Amounts for any breach of the representation set forth in Section 5(a)(xii) if such Seller has paid the related Reassignment Amount.
(b)    Indemnification Procedure.  Whenever any claim of the type which would occasion indemnification under this Section 12 is asserted or threatened by any Indemnified Party against any Indemnifying Party, the Indemnified Party shall promptly notify such Indemnifying Party of such claim.  The notice shall include, if known, the facts constituting the basis for such claim, including, if known, the amount or an estimate of the amount of the liability arising therefrom.  In the event of any claim for indemnification hereunder resulting from or in connection with the claim or legal proceedings of a claimant not a Party to this Agreement, the Indemnifying Party shall have the right, at its option, at its expense and with its own counsel which counsel shall be reasonably satisfactory to the Indemnified Party to assume the defense of any such claim or any litigation resulting from such claim or to participate with its own counsel which counsel shall be reasonably satisfactory to the Indemnified Party in the compromise or defense thereof.  If the Indemnifying Party undertakes to assume the defense of any such claim or litigation or participate in the compromise thereof, it shall promptly notify the Indemnified Party of its intention to do so, and, as a condition to the Indemnifying Party’s indemnification obligation, the Indemnified Party shall cooperate reasonably with the Indemnifying Party and its counsel (but at the sole expense of the Indemnifying Party) in the defense against or compromise of any such claim or litigation.  Anything in this Section 12(b) to the contrary notwithstanding, no Indemnified Party shall compromise or settle any such claim or litigation without the prior written consent of the applicable Indemnifying Party, which consent will not be unreasonably withheld; provided, however, that if the Indemnified Party shall have any potential liability with respect to, or may be adversely affected by, such claim or litigation, the Indemnifying Party shall not settle or compromise such claim or litigation without the prior written consent of the Indemnified Party.

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Ex 10.4

(c)    Losses.  For the purposes of this Agreement, the term “Losses” shall mean all out‐of‐pocket costs, damages, losses, fines, penalties, judgments, settlements, and expenses whatsoever, including, without limitation, (i) outside attorneys’ fees and disbursements and court costs reasonably incurred by the Indemnified Party; and (ii) costs (including reasonable expenses and reasonable value of time spent) attributable to the necessity that any officer or employee (other than in-house attorneys) of any Indemnified Party spend more than twenty-five percent (25%) of his or her normal business hours, over a period of two (2) months, in connection with any judicial, administrative, legislative, or other proceeding.
(d)    Survival.  The provisions of this Section 12 shall survive the termination of this Agreement.
[Signature Page Follows]

IN WITNESS WHEREOF, the Parties, each intending to be legally bound hereby, have caused this Agreement to be executed by its duly authorized officer as of the date first above written.
ADVANCE GROUP, INC.
AVIO CREDIT, INC.
CASH COLORADO, LLC
CONCORD FINANCE, INC.
FMMR INVESTMENTS, INC.
GALT VENTURES, LLC
PRINCIPAL INVESTMENTS, INC.
SCIL, INC.
SPEEDY CASH ILLINOIS, INC.

By:  /s/Don Gayhardt    
Name: Donald F. Gayhardt Jr.
Title: President & Chief Executive Officer

CURO RECEIVABLES HOLDINGS II, LLC

By:  /s/Don Gayhardt    
Name: Donald F. Gayhardt Jr.
Title: President & Chief Executive Office

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Ex 10.4

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