Document:

Exhibit 10.21b

 

Portions of this Exhibit 10.21b  have been omitted based upon a request for confidential treatment. This Exhibit 10.21b, including the non-public information, has been filed separately with the Securities and Exchange Commission. “[*]” designates portions of this document that have been redacted pursuant to the request for confidential treatment filed with the Securities and Exchange Commission.

 

 

AMENDING AGREEMENT

 

THIS AGREEMENT made as of the 1st day of August, 2012,

 

B E T W E E N:

 

AUTOMOTIVE FINANCE CANADA INC.,
 a corporation incorporated under the laws of the Province of Ontario,

 

(hereinafter called the “Seller”),

 

- and -

 

KAR AUCTION SERVICES, INC.,
  a corporation incorporated under the laws of Delaware,

 

(hereinafter called the “KAR”),

 

- and -

 

BNY TRUST COMPANY OF CANADA,
  a trust company incorporated under the laws of Canada licensed to carry on business as a trustee in each of the provinces of Canada, in its capacity as trustee of PRECISION TRUST, a trust established pursuant to the laws of the Province of Ontario, without personal liability, as purchaser,

 

(in such capacity, hereinafter called the “Purchaser”).

 

WHEREAS the Seller, KAR and the Purchaser entered into an amended and restated receivables purchase agreement dated as of May 24, 2011 (as amended, the “RPA”);

 

AND WHEREAS, in accordance with the terms of Section 10.4 of the RPA, the Seller, KAR and the Purchaser wish to amend the RPA in the manner set out in this amending agreement (the “Agreement”);

 

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and covenants and agreements of the parties herein contained and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged by each of the parties), the parties hereby covenant and agree as follows:

 

 

1.                                      Interpretation

 

1.1                               All words and expressions defined in the RPA and not otherwise defined in this Agreement (including the recitals hereto) shall have the respective meanings given to them in the RPA.

 

2.                                      Amendments to the RPA

 

2.1                               Schedule G of the RPA is hereby deleted in its entirety and the following is substituted therefore:

 

“SCHEDULE “G”

 

DEPOSIT ACCOUNTS

 

	
Branch
    	
 
    	
Account Number
    
	
[*]
    	
 
    	
[*]
    

 

3.                                      Other Documents

 

3.1                               Any reference to the RPA made in any documents delivered pursuant thereto or in connection therewith shall be deemed to refer to the RPA as amended, extended, modified, renewed or supplemented from time to time, unless the context otherwise requires.

 

4.                                      Miscellaneous

 

4.1                               As amended by this Agreement, the RPA is in all respects ratified and confirmed and continues in full force and effect, and the RPA as amended by this Agreement shall be read, taken and construed as one and the same instrument.

 

4.2                               This Agreement shall enure to the benefit of and be binding upon the parties and their respective successors and permitted assigns.

 

4.3                               This Agreement may be executed in one or more counterparts each of which shall be deemed an original and all of which when, taken together, shall constitute one and the same instrument.

 

4.4                               This Agreement shall be governed by, and construed in accordance with, the laws of the Province of Ontario and the federal laws of Canada applicable therein.

 

2

 

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

 

	
 
    	
AUTOMOTIVE   FINANCE CANADA INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   James E. Money, II
    
	
 
    	
 
    	
Name:
    	
James   E. Money, II 
    
	
 
    	
 
    	
Title:
    	
CFO &   Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
KAR   AUCTION SERVICES, INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Rebecca C. Polak
    
	
 
    	
 
    	
Name:   
    	
Rebecca   C. Polak 
    
	
 
    	
 
    	
Title:   
    	
Executive   VP, General
    
	
 
    	
 
    	
Counsel &   Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:   
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
BNY   TRUST COMPANY OF CANADA, in its capacity as trustee of PRECISION TRUST, without personal liability, by BMO NESBITT BURNS INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Brown
    
	
 
    	
 
    	
Name:
    	
Kevin   Brown 
    
	
 
    	
 
    	
Title:   
    	
Director
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Chris Romano
    
	
 
    	
 
    	
Name:   
    	
Chris   Romano 
    
	
 
    	
 
    	
Title:   
    	
Managing   DirectorCanyon Copper Corp.: Exhibit 10.24 - Filed by newsfilecorp.com

TERMINATION AGREEMENT

THIS TERMINATION AGREEMENT is dated as of the 5th day of
November, 2012 (the “Effective Date”).

	AMONG: 
		ARH MANAGEMENT LTD., a British
      Columbia corporation, having a business address at 3024 Procter Avenue,
      West Vancouver, BC V7V 1G1 
	 	 
	 	(the "Consultant") 
	 	OF THE FIRST PART 
	AND: 
		ANTHONY R. HARVEY of 3024 Procter
      Avenue, West Vancouver, BC V7V 1G1 
	 	 
	 	("Harvey") 
	 	OF THE SECOND PART 
	AND: 
		CANYON COPPER CORP., a Nevada
      corporation, having its head office at Suite 408 – 1199 West Pender
      Street, Vancouver, BC V6E 2R1 
	 	 
	 	(the "Corporation") 
	 	OF THE THIRD PART 
	WHEREAS: 

A.               
The Consultant, Harvey and the Corporation entered into a Consulting Agreement
dated December 1, 2007 (the “Consulting Agreement”) pursuant to which the
Consultant agreed to provide the services of Harvey, as employee of the
Consultant to the Corporation in consideration for a consulting fee equal to the
sum of CAD$5,000 per month (the “Consulting Fee”);

B.                
The Corporation is indebted to the Consultant in the amount of CAD$275,000 for
unpaid consulting fees (the “Unpaid Consulting Fees”);

C.             
   The Corporation is indebted to Harvey in the aggregate principal
amount of CAD$150,000 and USD$50,000 for loans advanced to the Corporation (the
“Loans”) as follows:

	 	(1) 	
      loan of CAD$75,000 bearing interest at a rate of 15% per
      annum and due on May 22, 2014, with accrued interest of CAD$18,062 as at
      June 30, 2012;

	 	 	 
	 	(2) 	
      loan of USD$50,000 bearing interest at a rate of 15% per
      annum and due on April 1, 2014, with accrued interest of USD$12,986 as at
      June 30, 2012; and

	 	 	 
	 	(3) 	
      loan of CAD$75,000 bearing interest at a rate of 15% per
      annum and due on July 1, 2014, with accrued interest of CAD$16,274 as at
      June 30, 2012,

D.                
The Consultant, Harvey and the Corporation have mutually agreed to terminate the
Consulting Agreement effective immediately upon entering into this Termination
Agreement.

NOW THEREFORE THIS TERMINATION AGREEMENT WITNESSES THAT
in consideration of the sum of $1.00 paid by each party to the other (the
receipt of which is hereby acknowledged) the parties hereto mutually covenant
and agree as follows:

1.                
The Consultant, Harvey and the Corporation agree that as of the Effective Date,
the Consulting Agreement shall be terminated and of no further force or
effect.

2.                
Notwithstanding the date of this Termination Agreement, the Consultant waives
the payment of the Consulting Fee from July 1, 2012 to the Effective Date.

3.                
The Corporation shall pay to the Consultant:

	 	(a) 	
      the Unpaid Consulting Fees on the earlier of June 30,
      2013 (the “Initial Due Date”), subject to the Consultant electing to
      extend the Initial Due Date in accordance with section 4 of this
      Termination Agreement, and the Corporation completing financing with
      minimum net proceeds of USD$3,500,000; and

	 	(b) 	
      the Loans on their respective due dates as set forth in
      Recital C of this Termination Agreement.

4.                
The Consultant may extend the Initial Due Date of the Unpaid Consulting Fees by
six months, and thereafter by an additional six months for each six month
extension, by providing written notice of such election to the Corporation.

5.                
Time shall be of the essence in this Termination Agreement.

6.                
This Termination Agreement embodies the entire agreement and understanding
between the parties hereto and supersedes all prior agreements and undertakings,
whether oral or written, pertaining to the subject matter hereof.

7.                
This Termination Agreement shall be governed by and be construed in accordance
with the laws of the Province of British Columbia and the parties hereto agree
to submit to the jurisdiction of the courts of British Columbia with respect to
any legal proceedings arising herefrom.

8.                
This Termination Agreement has been prepared by Northwest Law Group acting
solely on behalf of the Corporation and the Consultant and Harvey acknowledge
that they have been advised to obtain independent legal advice.

9.                
This Termination Agreement may be executed in one or more counterparts, each of
which so executed shall constitute an original and all of which together shall
constitute one and the same agreement.

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

ARH MANAGEMENT LTD. a British Columbia corporation

	Per: 	/s/ Anthony R.
      Harvey                      
       	 
	  	Anthony R. Harvey, President 	 

SIGNED, SEALED AND DELIVERED 
BY ANTHONY R. HARVEY

in the presence of:

/s/ Kurt Bordian
Signature of Witness

	408 – 1199 W. Pender Street, Vancouver, BC 	/s/ Anthony R. Harvey 
	Address of Witness 	ANTHONY R. HARVEY 

Kurt Bordian 

Name of Witness

CANYON COPPER CORP., 
a Nevada corporation

	Per: 	/s/ Benjamin
      Ainsworth                    
      	 
	  	Benjamin Ainsworth, President

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