Document:

Exhibit 10.61

 

SIXTH COMMITMENT AMENDMENT TO

LOAN SALE AND SERVICING AGREEMENT

 

THIS SIXTH COMMITMENT
AMENDMENT TO LOAN SALE AND SERVICING AGREEMENT (this “Sixth Amendment”), dated as of July 1, 2015, is entered
into by and among BBCV Receivables-Q 2010 LLC, a Delaware limited liability company, as seller (the “Seller”),
Quorum Federal Credit Union, a federally chartered credit union, as buyer (the “Buyer”), Vacation Trust, Inc.,
a Florida Corporation, as Club Trustee (the “Club Trustee”), U.S. Bank National Association, a national banking
association, as custodian and paying agent (the “Custodian”), Bluegreen Corporation, a Florida corporation,
as servicer (the “Servicer”), and Concord Servicing Corporation, an Arizona corporation, as backup servicer
(the “Backup Servicer”).

 

RECITALS

 

WHEREAS, the Buyer,
the Seller, the Servicer and the Backup Servicer have previously entered into that certain Loan Sale and Servicing Agreement, dated
as of December 22, 2010, as amended by that certain Omnibus Amendment, dated as of May 3, 2011 and that certain Omnibus Amendment
No. 2, dated as of February 7, 2012, and as further amended by that certain First Commitment Amendment, dated as of March 1, 2012,
that certain Second Commitment Amendment, dated as of January 31, 2013, that Third Commitment Amendment dated as of April 1, 2014,
that Fourth Commitment Amendment, dated as of November 1, 2014, that Fifth Commitment Amendment, dated as of December 23, 2014,
that First General Amendment, dated as of April 1, 2014, and that Omnibus Amendment No. 3, dated as of June 30, 2015 (as may be
amended, supplemented or restated from time to time, the “Loan Sale and Servicing Agreement”).

 

WHEREAS, Standard
Definitions are attached to the Loan Sale and Servicing Agreement at Annex A (the “Standard Definitions”).

 

WHEREAS, the parties
hereto desire to modify the Loan Sale and Servicing Agreement as set forth in this Sixth Amendment.

 

WHEREAS, capitalized
terms used herein not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Sale and Servicing Agreement.

 

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

 

1.            Amendment
of Standard Definitions.

 

(a)          The
following definitions shall replace the corresponding definition in the Standard Definitions:

 

    	 	 	1

     

    

  

“Commitment Period”
and “Commitment Purchase Period” shall mean the period commencing on July 1, 2015 and continuing until June
30, 2017.

 

“Minimum Required Amount”
shall mean, during the Commitment Period, fifty million dollars ($50,000,000.00).

 

"Reacquisition Date"
shall mean, with respect to the reacquisition of the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool,
the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool on or after the First Optional Reacquisition
Date, the Second Optional Reacquisition Date, the Third Optional Reacquisition Date, or the Fourth Optional Reacquisition Date
respectively, the date fixed pursuant to Section 11.3 of this Agreement.

 

"Reacquisition Price"
shall mean, with respect to the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate
Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, the sum of the Net Investment Amounts of all Sale Date Loan Pools
comprising the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan
Pool, or the Fourth Aggregate Sale Date Loan Pool, respectively, together with the Program Fee accrued and unpaid thereon at the
applicable Program Fee Rate up to and including the Reacquisition Date.

 

"Third Aggregate Sale Date
Loan Pool" shall mean, on any date of determination, all Timeshare Loans sold to the Buyer on each Sale Date occurring
after April 1, 2014, but prior to July 1, 2015.

 

(b)          The
following definitions shall be added to the Standard Definitions:

 

"Fourth Aggregate Sale Date
Loan Pool" shall mean, on any date of determination, all Timeshare Loans sold to the Buyer on each Sale Date occurring
after June 30, 2015.

 

"Fourth Optional Reacquisition
Date" shall mean the first date on which the then current aggregate Net Investment Amounts in respect of all Timeshare
Loans in the Fourth Aggregate Sale Date Loan Pool is less than or equal to fifteen percent (15%) of all of the original aggregate
Net Investment Amounts in respect of all of the Timeshare Loans sold in each Sale Date Loan Pool corresponding to the Fourth Aggregate
Sale Date Loan Pool on the related Sale Date.

 

2.          Addition
of new Section 2.6. Section 2.6 of the Loan Sale and Servicing Agreement is hereby added as follows:

 

SECTION 2.6. Determining Minimum
Required Amount Availability. The amount of the Minimum Required Amount available on any given date shall be the difference
between the Minimum Required Amount less the sum of the Net Investment Amount outstanding on such given date for (i) BBCV Receivables-Q
2010 LLC and (ii) BRFC-Q 2010 LLC.

 

    	 	 	2

     

    

  

3.          Section
11.1 of the Loan Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

SECTION 11.1. Clean-up Call; Optional
Reacquisition; Election to Reacquire. The initial Servicer shall have the option to reacquire not less than all of the Timeshare
Loans in the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan
Pool, or the Fourth Aggregate Sale Date Loan Pool any date after the First Optional Reacquisition Date, the Second Optional Reacquisition
Date, the Third Optional Reacquisition Date, or the Fourth Optional Reacquisition Date respectively, by payment of an amount equal
to the Reacquisition Price (unless amounts in the Trust Accounts are sufficient to make such payments).

 

4.          Section
11.2 of the Loan Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

SECTION 11.2. Notice to Buyer.
The Servicer shall give written notice of its intention to reacquire the First Aggregate Sale Date Loan Pool, the Second Aggregate
Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, as applicable, to the
Buyer at least fifteen (15) days prior to the Reacquisition Date (unless a shorter period shall be satisfactory to the Buyer).

 

5.          Section
11.3 of the Loan Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

SECTION 11.3. Notice of Reacquisition
by the Servicer. Notices of reacquisition shall be given by electronic transmission and by first class mail, postage prepaid,
mailed not less than fifteen (15) days prior to the Reacquisition Date, to the Buyer. All notices of reacquisition shall state
(a) the Reacquisition Date, (b) the Reacquisition Price, (c) that the First Aggregate Sale Date Loan Pool, the Second Aggregate
Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool is being reacquired,
(d) the Timeshare Loans comprising the First Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third
Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool and (e) that on the Reacquisition Date, the Reacquisition
Price shall become due and payable in respect of the reacquisition of the First Aggregate Sale Date Loan Pool, the Second Aggregate
Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool, as applicable, and that
the Program Fee shall cease to accrue if payment is made on the Reacquisition Date.

 

    	 	 	3

     

    

  

6.          Section
11.5 of the Loan Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

SECTION 11.5. Timeshare Loans
on Reacquisition Date. Notice of reacquisition having been given as provided in Section 11.2 hereof and deposit of the Reacquisition
Price with the Buyer having been made as provided in Section 11.4 hereof, the First Aggregate Sale Date Loan Pool, the Second Aggregate
Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool being reacquired shall
on the Reacquisition Date, become due and payable at the Reacquisition Price, and, on such Reacquisition Date, the First Aggregate
Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate
Sale Date Loan Pool, as applicable, shall cease to accrue the Program Fee. The Buyer shall apply all available funds in the Trust
Accounts and the Buyer shall be paid any remaining portion of the Reacquisition Price by the Servicer upon transfer of the First
Aggregate Sale Date Loan Pool, the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth
Aggregate Sale Date Loan Pool being purchased by the Servicer or its designee. If the Servicer shall have failed to deposit the
Reacquisition Price with the Buyer, the principal and the Program Fee with respect to the First Aggregate Sale Date Loan Pool,
the Second Aggregate Sale Date Loan Pool, the Third Aggregate Sale Date Loan Pool, or the Fourth Aggregate Sale Date Loan Pool,
as applicable, shall, until paid, continue to accrue at the applicable Program Fee Rate. The Servicer's failure to deposit the
Reacquisition Price shall not constitute a Purchase Termination Event hereunder.

 

7.          Choice
of Law and Venue. This Sixth Amendment shall be construed in accordance with the internal laws of the State of New York.

 

8.          Binding
Effect. This Sixth Amendment shall inure to the benefit of and be binding upon the parties to this Sixth Amendment and their
successors and assigns.

 

9.          Counterpart
Execution. This Sixth Amendment may be executed in counterpart, and any number of copies of this Sixth Amendment which in the
aggregate have been executed by all parties to this Sixth Amendment shall constitute one original.

 

10.         Time
is of the Essence. Time is of the essence in the performance of the obligations in this Sixth Amendment.

 

11.         No
Third Party Beneficiary. No third party shall be a beneficiary hereof.

 

[Signatures Appear on Next Page]

 

    	 	 	4

     

    

  

IN WITNESS WHEREOF, the parties hereto
have executed this Sixth Amendment as of the date set forth above.

 

	THE BUYER:	QUORUM FEDERAL CREDIT UNION
	 	By:	/s/ Bruno Sementilli
	 	Bruno Sementilli,
	 	President and CEO
	 	 
	THE SELLER:	BBCV Receivables-Q 2010 LLC
	 	By:	/s/ Allan J. Herz
	 	Allan J. Herz
	 	President and Assistant Treasurer
	 	 
	THE SERVICER: 	BLUEGREEN CORPORATION
	 	By:	/s/ Anthony M. Puleo
	 	Anthony M. Puleo
	 	Senior Vice President, CFO & Treasurer
	 	 
	THE BACKUP SERVICER: 	CONCORD SERVICING CORPORATION
	 	By:	/s/ Sonja Yurkiw
	 	Printed Name: Sonja Yurkiw
	 	Title:   Vice President and General Counsel
	 	 
	THE CUSTODIAN: 	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Custodian and Paying Agent hereunder
	 	By:	/s/ Michelle Moeller
	 	Printed Name:  Michelle Moeller
	 	Title: Vice President
	 	 
	THE CLUB TRUSTEE:	VACATION TRUST, INC.,
	 	as Club Trustee
	 	By:	/s/ Constance G. Dodd
	 	Constance G. Dodd
	 	President, Treasurer and Secretary

 

    	 	 	5Exhibit
10.62

 

SEVENTH
COMMITMENT AMENDMENT TO

LOAN SALE
AND SERVICING AGREEMENT

 

THIS
SEVENTH COMMITMENT AMENDMENT TO LOAN SALE AND SERVICING AGREEMENT (this “Seventh Amendment”), dated as
of September 1, 2016, is entered into by and among BBCV RECEIVABLES-Q 2010 LLC, a Delaware limited liability company, as seller
(the “Seller”), Quorum Federal Credit Union, a federally chartered credit union, as buyer (the “Buyer”),
Vacation Trust, Inc., a Florida Corporation, as Club Trustee (the “Club Trustee”), U.S. Bank National Association,
a national banking association, as custodian and paying agent (the “Custodian”), Bluegreen Corporation, a Florida
corporation, as servicer (the “Servicer”), and Concord Servicing Corporation, an Arizona corporation, as backup
servicer (the “Backup Servicer”).

 

RECITALS

 

WHEREAS,
the Buyer, the Seller, the Servicer and the Backup Servicer have previously entered into that certain Loan Sale and Servicing
Agreement, dated as of December 22, 2010, as amended by that certain Omnibus Amendment, dated as of May 3, 2011, that certain
Omnibus Amendment No. 2, dated as of February 7, 2012, that certain 1st Commitment Amendment, dated as of March 1, 2012, that
certain 2nd Commitment Amendment, dated as of January 31, 2013, that certain 1st General Amendment, dated as of April 1, 2014,
that certain 3rd Commitment Amendment, dated as of April 1, 2014, that certain 4th Commitment Amendment, dated as of November
1, 2014, that certain 5th Commitment Amendment, dated as of December 23, 2014, that certain Omnibus Amendment No. 3, dated as
of June 30, 2015, that certain 6th Commitment Amendment, dated as of July 1, 2015, and that certain Omnibus Amendment No. 4, dated
as of June 30, 2016 (as may be amended, supplemented or restated from time to time, the “Loan Sale and Servicing Agreement”).

 

WHEREAS,
Standard Definitions are attached to the Loan Sale and Servicing Agreement at Annex A (the “Standard Definitions”).

 

WHEREAS,
the parties hereto desire to modify the Loan Sale and Servicing Agreement as set forth in this Seventh Amendment.

 

WHEREAS,
capitalized terms used herein not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Sale and
Servicing Agreement.

 

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

 

		1.	Amendment
                                         of Standard Definitions.

 

(a)          The
following definitions shall replace the corresponding definition in the Standard Definitions:

 

“Commitment
Period” and “Commitment Purchase Period” shall mean the period commencing on July 1, 2015 and continuing
until June 30, 2018.

 

    	 	 	1

     

    

 

2.          Choice
of Law and Venue. This Seventh Amendment shall be construed in accordance with the internal laws of the State of New York.

 

3.          Binding
Effect. This Seventh Amendment shall inure to the benefit of and be binding upon the parties to this Seventh Amendment
and their successors and assigns.

 

4.          Counterpart
Execution. This Seventh Amendment may be executed in counterpart, and any number of copies of this Seventh Amendment which
in the aggregate have been executed by all parties to this Seventh Amendment shall constitute one original.

 

5.          Time
is of the Essence. Time is of the essence in the performance of the obligations in this Seventh Amendment.

 

6.          No
Third Party Beneficiary. No third party shall be a beneficiary hereof.

 

[Signatures
Appear on Next Page]

 

    	 	 	2

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Seventh Amendment as of the date set forth above.

 

	THE BUYER:	QUORUM FEDERAL CREDIT UNION
	 	 	 
	 	By:	/s/
    Bruno Sementilli,
	 	 	Bruno Sementilli,
	 	 	President and CEO

 

	THE SELLER:	BBCV RECEIVABLES-Q 2010 LLC
	 	 	 
	 	By:	/s/
    Allan J. Herz
	 	 	Allan J. Herz
	 	 	President and Assistant Treasurer

 

	THE SERVICER:	BLUEGREEN CORPORATION
	 	 	 
	 	By:	/s/
    Anthony M. Puleo
	 	 	Anthony M. Puleo
	 	 	Senior Vice President, CFO &
    Treasurer

 

	THE BACKUP SERVICER:	CONCORD SERVICING CORPORATION
	 	 	 
	 	By:	/s/
    Sonja M. Yurkiw, Esq.
	 	 	Sonja M. Yurkiw, Esq.
	 	 	Vice President & General
    Counsel

 

	THE CUSTODIAN:	U.S. BANK NATIONAL ASSOCIATION, not in
	 	its individual capacity
    but solely as Custodian and
	 	Paying Agent hereunder
	 	 	 
	 	By:	/s/ Michelle Moeller
	 	 	Michelle Moeller
	 	 	Vice President

 

	THE CLUB TRUSTEE:	VACATION TRUST, INC.,
	 	as Club Trustee
	 	 	 
	 	By:	/s/ Constance
    G. Dodd
	 	 	Constance G. Dodd
	 	 	President, Treasurer and Secretary

 

    	 	 	3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}]]