Document:

Exhibit

Exhibit 10.1

AMENDMENT NO. 7 TO RECEIVABLES PURCHASE AGREEMENT
THIS AMENDMENT NO. 7 TO RECEIVABLES PURCHASE AGREEMENT, dated as of August 31, 2017 (this “Amendment”), is entered into by and among:
(a)    SUPERIOR COMMERCE LLC, a Delaware limited liability company (the “Seller”), 
(b)    SCP DISTRIBUTORS LLC, a Delaware limited liability company (the “Servicer”), and
(c)    THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as agent for the Victory Group (the “Victory Group Co-Agent”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as agent for the Wells Group (the “Wells Group Co-Agent”, and together with the Victory Group Co-Agent, the “Co-Agents”).
Capitalized terms used and not otherwise defined herein shall have the meanings thereto in that certain Receivables Purchase Agreement, dated as of October 11, 2013 (as amended or otherwise modified from time to time, the “Receivables Purchase Agreement”).
PRELIMINARY STATEMENT
The parties wish to amend the Receivables Purchase Agreement as hereinafter provided.
In consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendments.  On the terms and subject to the conditions set forth in this Amendment, the parties hereto agree as follows:

1.1The definitions of the following terms set forth in Exhibit I to the Receivables Purchase Agreement are hereby amended and restated in their entirety to read, respectively, as set forth below:
“Facility Limit” means, for each month beginning on or after November 1, 2016, (a) the amount specified in the second column of the table below (the “Base Facility Limit”), plus (b) the amount (if any) specified in the third column below (the “Seasonal Facility Limit”); provided, however, that the Facility Limit may be increased up to an amount to be determined by agreement of Seller and the Co-Agents, so long as no Amortization Event or Potential Amortization Event exists and is continuing (it being understood that the Commitments associated with any increase in the Facility Limit may be provided by existing Purchasers and/or new Purchasers):

1

	
				
	

Month
(beginning on or after 
November 1, 2016)*
	

Base 
Facility Limit
	

Seasonal 
Facility Limit
	Facility Limit

	November
	$95,000,000
	n/a
	$95,000,000

	December
	$85,000,000
	n/a
	$85,000,000

	January
	$65,000,000
	n/a
	$65,000,000

	February
	$75,000,000
	n/a
	$75,000,000

	March
	$80,000,000
	$40,000,000
	$120,000,000

	April
	$140,000,000
	$40,000,000
	$180,000,000

	May
	$180,000,000
	$40,000,000
	$220,000,000

	June
	$180,000,000
	$40,000,000
	$220,000,000

	July
	$145,000,000
	$40,000,000
	$185,000,000

	August
	$150,000,000
	n/a
	$150,000,000

	September
	$145,000,000
	n/a
	$145,000,000

	October
	$125,000,000
	n/a
	$125,000,000

*Nothing in this table shall be deemed to imply that any Commitment or the Facility Limit extends beyond the Facility Termination Date.

1.2Schedule A to the Receivables Purchase Agreement is hereby amended and restated in its entirety to read as set forth in Schedule A to this Amendment.

2.Effect of Amendment.  Except as specifically amended hereby, the Receivables Purchase Agreement and all exhibits and schedules attached thereto shall remain unaltered and in full force and effect.

3.Binding Effect.  This Amendment shall be binding upon and inure to the benefit of each of the parties to the Receivables Purchase Agreement, whether or not they are parties hereto, and their successors and permitted assigns.

4.Effectiveness.  Effectiveness of this Amendment is subject to the prior or contemporaneous satisfaction of each of the following conditions precedent:
(a)The Administrative Agent shall have received counterparts hereof, duly executed by each of the parties hereto; and
(b)Each of the representations and warranties contained in Article III of the Receivables Purchase Agreement is true and correct in all material respects on and as of the date hereof as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case each of such representations and warranties is true and correct in all material respects as of such earlier date; provided that the materiality threshold in this clause (b) shall not be applicable to any representation or warranty which itself contains a materiality threshold.

5.Miscellaneous.

5.1CHOICE OF LAW.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW WHICH SHALL APPLY HERETO).

5.2CONSENT TO JURISDICTION.  EACH PARTY TO THIS AMENDMENT HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT SITTING IN THE BOROUGH OF MANHATTAN, NEW YORK, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT, AND EACH OF THE PARTIES HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY 

2

OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM.  NOTHING HEREIN SHALL LIMIT THE RIGHT OF ANY OF THE AGENTS OR THE PURCHASERS TO BRING PROCEEDINGS AGAINST ANY SELLER PARTY IN THE COURTS OF ANY OTHER JURISDICTION.  ANY JUDICIAL PROCEEDING BY ANY SELLER PARTY AGAINST ANY OF THE AGENTS OR THE PURCHASERS OR ANY AFFILIATE THEREOF INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT SHALL BE BROUGHT ONLY IN A COURT IN THE BOROUGH OF MANHATTAN, NEW YORK.

5.3WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT.

5.4Counterparts; Severability.  This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic mail message attaching a “PDF” or other image of a signed signature page shall be effective as delivery of a manually executed counterpart of a signature page to this Amendment.  Any provisions of this Amendment which are 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, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

<Balance of Page Intentionally Left Blank>

3

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their duly authorized officers or attorneys-in-fact as of the date hereof.
SUPERIOR COMMERCE LLC, as Seller
	
		
	By:
	/s/  Steven Cassanova

	Name:
	      Steven Cassanova

	Title
	      Treasurer  

SCP DISTRIBUTORS LLC, as Servicer
	
		
	By:
	/s/  Melanie Housey Hart

	Name:
	      Melanie Housey Hart

	Title
	      Chief Accounting Officer

[Additional Signatures to Follow]

4

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Victory Group Co-Agent

	
		
	By:
	/s/ Christopher Pohl

	Name:
	      Christopher Pohl

	Title
	      Managing Director

5

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Wells Group Co-Agent
	
		
	By:
	/s/  William P. Rutkowski

	Name:
	      William P. Rutkowski

	Title
	      Director

[End of Signatures]

6Exhibit 4.1

 

AMENDMENT NO. 1 TO

SALE AND SERVICING AGREEMENT

 

THIS AMENDMENT NO. 1
TO SALE AND SERVICING AGREEMENT (this “Amendment”) is made as of September 1, 2017, among World Omni Financial
Corp., a Florida corporation (“World Omni”), World Omni Auto Receivables LLC, a Delaware limited liability company
(“WOAR”), and World Omni Auto Receivables Trust 2015-B, a Delaware statutory trust (the “Issuing Entity”).

 

WHEREAS World Omni, as
Servicer, WOAR, as Depositor, and the Issuing Entity are parties to the Sale and Servicing Agreement, dated as of October 14, 2015
(as amended, supplemented and otherwise modified from time to time, the “Sale and Servicing Agreement”). Capitalized
terms used herein but not otherwise defined have the meanings set forth in Appendix A to the Sale and Servicing Agreement;

 

WHEREAS the parties desire
to amend the Sale and Servicing Agreement pursuant to Section 10.01(b) thereof;

 

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:

 

		1.	Amendments to Sale and Servicing Agreement. The
Sale and Servicing Agreement is hereby amended as follows:

 

		(A)	Section 5.06(ii)(I) of the Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

“(I)       (a)
first, to the Reserve Account, the amount necessary to reinstate the balance in the Reserve Account up to the Total Reserve Amount;
and (b) then to the Certificateholders, any remaining amounts, provided the Indenture Trustee has not received written instruction
from the Certificateholders of 100% percentage interest in the Certificates to redeposit all or a portion of such Total Available
Funds due such Certificateholders into the Collection Account.”

 

		(B)	Section 5.07(b) of the Sale and Servicing Agreement is hereby amended by deleting the term “Required Reserve Amount”
therein and replacing it with the term “Total Reserve Amount.”

 

		(C)	The definition of “Available Funds” in Appendix A Part I of the Sale and Servicing Agreement is hereby amended
by deleting the term “Required Reserve Amount” therein and replacing it with the term “Total Reserve Amount.”

     

     

    

 

 

		(D)	The table captioned “Distribution of Available Funds” under the caption “Flow of Funds” in Exhibit
B Form of Servicer’s Certificate of the Sale and Servicing Agreement is hereby deleted in its entirety and replaced with
the following:

 

“Distribution of Available
Funds

 

(1) Monthly Swap Payment Amount
(if any)

 

(2) Class A Interest

 

(3) Noteholders’ First
Priority Principal Distributable Amount

 

(4) Class B Interest

 

(5) Noteholders’ Second
Priority Principal Distributable Amount

 

(6) Required Reserve Amount

 

(7) Noteholders’ Principal
Distributable Amount

 

(8) Subordinate Swap Termination
Payment Amount

 

(9)(a) Supplemental Reserve
Amount

 

(9)(b) Distribution to Certificateholders”

 

		(E)	The following definitions are hereby added to Appendix A Part I of the Sale and Servicing Agreement in the appropriate alphabetical
order:

 

““Supplemental
Reserve Amount” means, with respect to any Payment Date, an amount equal to the lesser of (i) $14,500,000 and (ii) the
excess, if any, of the Outstanding Amount of the Notes over the Required Reserve Amount.”

 

““Total
Reserve Amount” means, with respect to any Payment Date, an amount equal to the sum of the Required Reserve Amount and
the Supplemental Reserve Amount.”

 

		2.	Effectiveness. This Amendment shall become effective
on September 1, 2017.

 

		3.	Limitation of Liability of Owner Trustee and Indenture
Trustee.

 

		(A)	It is expressly understood and agreed by the parties hereto that (i) this Amendment is executed and delivered by U.S. Bank
Trust National Association, not individually or personally but solely as Owner Trustee,
in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations,
undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as personal representations,
undertakings and agreements by U.S. Bank Trust National Association, but is made and intended for the purpose of binding only the
Issuing Entity, (iii) nothing herein contained shall be construed as creating any liability on U.S. Bank Trust National Association,
individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such
liability of U.S. Bank Trust National Association in its individual or personal capacity, if any, being expressly waived by the
parties hereto and by any person claiming by, through or under the parties hereto, (iv) U.S. Bank Trust National Association has
made no investigation into the accuracy or completeness of any representations or warranties made by the Issuing Entity in this
Amendment, and (v) under no circumstances shall U.S. Bank Trust National Association be personally liable for the payment of any
indebtedness or expenses of the Issuing Entity under this Amendment or any other related documents.

 

     

     

    

 

		(B)	Notwithstanding anything contained herein to the contrary, this Amendment has been acknowledged and consented to by MUFG Union
Bank, N.A., not in its individual capacity but solely as Indenture Trustee and in no event shall MUFG Union Bank, N.A. have any
liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity hereunder or in
any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the
assets of the Issuing Entity. For all purposes of this Amendment, the Indenture Trustee shall be entitled to all rights, privileges,
benefits, protections, immunities and indemnities provided to it under the Indenture.

 

4.              Action
by Owner Trustee. The Administrator hereby certifies that this Amendment is authorized or permitted by the Basic
Documents and that all of the conditions precedent in the Basic Documents for the execution and delivery of this Amendment by
the Issuing Entity have been complied with and the Certificateholder directs the Owner Trustee on behalf of the Issuing
Entity, to execute this Amendment.

 

5.              Miscellaneous. This Amendment shall be construed in accordance with the laws of the State of New York, without reference
to the principles of conflict of law thereof or of any other jurisdiction, and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws. This Amendment may be executed in two or more counterparts (and by
different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one
and the same instrument. The provisions of this Amendment shall be deemed to be incorporated in, and made a part of, the Sale and
Servicing Agreement and shall not constitute a novation of the Sale and Servicing Agreement; and the Sale and Servicing Agreement,
as amended by this Amendment, shall be read, taken and construed as one and the same instrument.

 

* * * * *

     

     

    

 

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment No. 1 to Sale and Servicing Agreement to be duly executed by their respective officers
as of the date first written above.

 

	 	WORLD OMNI FINANCIAL CORP.
	 	Servicer and Administrator
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Bryan Romano	 
	 	Name:	Bryan Romano	 
	 	Title:	Assistant Treasurer	 
	 	 	 	 
	 	 	 	 
	 	WORLD OMNI AUTO RECEIVABLES LLC
	 	Depositor
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Bryan Romano	 
	 	Name:	Bryan Romano	 
	 	Title:	Assistant Treasurer	 
	 	 	 	 
	 	 	 	 
	 	WORLD OMNI AUTO RECEIVABLES TRUST 2015-B
	 	 	 	 
	 	By:  U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee on behalf of the Issuing Entity
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Christopher J. Nuxoll	 
	 	Name:	Christopher J. Nuxoll	 
	 	Title:	Vice President	 

 

 

Acknowledged and Consented To:

 

MUFG UNION BANK, N.A.

not in its individual capacity, but solely as Indenture Trustee

 

	By:	/s/ Rafael E. Miranda	 
	Name:	Rafael E. Miranda	 
	Title:	Vice President	 

 

     

     

    

 

The undersigned hereby
consents to this Amendment No. 1 to Sale and Servicing Agreement and the direction in Section 4:

 

	 	 	 	 
	 	 	 	 
	 	WORLD OMNI AUTO RECEIVABLES LLC,
	 	as holder of 100% of the Outstanding Amount of the Certificates
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Bryan Romano	 
	 	Name:	Bryan Romano	 
	 	Title:	Assistant Treasurer

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