Document:

Exhibit 10.21

 

[Graphic]

 

	
   

  	
  February 27,
  2009

  
	
   

  	
   

  
	
  Mr. William
  Ross

  	
   

  
	
  1
  Portofino Drive

  	
   

  
	
  Unit
  907

  	
   

  
	
  Pensacola
  Beach, FL 32561

  	
   

  

 

Dear
Bill:

 

The
purpose of this letter agreement (the “Agreement”) is to set forth the terms of
your separation from BioHorizons, Inc. (the “Company”).  Payment of the Separation Pay described below
is contingent on your agreement to and compliance with the terms of this
Agreement.  Neither this offer to you nor
the Company’s entering into this Agreement shall constitute an admission by the
Company.

 

1.             Separation of Employment.  Your employment with the Company will
terminate on February 28, 2009 (the “Separation Date”).  You acknowledge that from and after the
Separation Date, you shall have no authority to, and shall not, represent
yourself as an employee of the Company.

 

2.             Separation Pay and Benefits.

 

In
exchange for the mutual promises set forth in this Agreement, and provided you
do not revoke this Agreement, which you are entitled to do, and which is
explained in Section 4 below, the Company agrees to provide you with
$106,440 in Separation Pay.  The
Separation Pay will be paid to you in twelve (12) equal bi-monthly installments
of $8,870.00, less all applicable federal, state, local and other
employment-related deductions, in accordance with the Company’s regular
payroll.  Payments shall begin on the
next regular pay date after this Agreement becomes effective, which is seven
days after you sign it.

 

By
law, and regardless of whether you sign this Agreement, you will have the right
to continue your medical insurance pursuant to the provisions of the
Consolidated Omnibus Budge Reconciliation Act of 1985 (COBRA) or applicable
state law.  You will receive your COBRA
notice under separate cover.  Provided
that you make a timely election under COBRA, the Company agrees to make the
first six (6) months premium payments on your behalf. Thereafter, you will
be solely responsible for all future premium payments.  If you do not elect COBRA, your health
insurance will terminate on February 28, 2009.  All other company benefits shall cease on your
Separation Date.

 

You
acknowledge that except for the specific financial consideration set forth in
this Agreement (specifically including the matters set forth in this Section 2
as well as Section 3), your final wages and your accrued but unused
vacation, which shall be paid to you in accordance with the Company’s regular
payroll practices and applicable law, COBRA payments , $50,000 life insurance
premium and flexible spending account contributions which shall continue for
six months after your Separation Date, you are not now and shall not in the
future be entitled to any other compensation from the Company for the period
after the Separation Date including, 

 

 

without
limitation, other wages, commissions, bonuses, vacation pay, holiday pay, paid
time off or any other form of compensation or benefit, it being that both
parties hereby terminate any other agreement or obligation between them.

 

3.             Equity.  Company agrees to vest (i.e., waive its right
to repurchase) the remaining 33,333 shares of the 100,000 shares of common
stock of BioHorizons, Inc. (formerly known as HEALTHPOINTCAPITAL Dental
Holdings, Inc.) (“Parent”) held by you.  You will have full ownership of all 100,000
shares and agree that such shares shall remain subject to the Stockholders’
Agreement dated August 21, 2006 between Parent and its stockholders. You
and the Company acknowledge and agree that in addition to such shares, you own
60,000 shares of common stock of BioHorizons Implant Systems, Inc. (“BHIS”)
which are subject to the terms of BHIS’s 2000 Stock Grant and Option Plan,
Stock Option Agreements between you and BHIS dated June 5, 2000 and March 20,
2002 and the Amendment to Stock Option Agreement(s) dated on or about August 21,
2006.

 

4.             Confidentiality.

 

i.              You expressly
acknowledge and agree that you promptly will return to the Company all Company
documents (and destroy any copies thereof) and property.  Further, you agree that you will abide by an
all common law and/or statutory obligations relating to protection and
non-disclosure of the Company’s trade secrets and/or confidential and
proprietary documents and information;

 

ii.             Both parties
expressly acknowledge and agree that all information relating in any way to
this Agreement, including the terms and amount of financial consideration
provided for this Agreement, shall be held confidential by each of us and shall
not be publicized or disclosed by any person (other than an immediate family
member, officer, director, legal counsel, employees required for processing of
payments listed herein or financial advisor), business entity or government agency
(except as mandated by state or federal law), except that nothing in this
paragraph shall prohibit either of us from participating in an investigation
with a state or federal agency if requested by the agency to do so;

 

iii.            You expressly
acknowledge and agree that you will not make any statements that are
professionally or personally disparaging about, or adverse to, the interests of
the Company (including its officers, directors, employees and consultants)
including but not limited to, any statements that disparage any person,
product, service, finances, financial condition, capability or any other aspect
of the business of the Company, and that you will not engage in any conduct
with could reasonably be expected to harm professionally or personally the
reputation of the Company (including its officers, directors, employees and
consultants).  The Company expressly
acknowledges and agrees its officers and directors will not make disparaging
remarks about or adverse to you or your professional or personal character or
abilities.

 

iv.            That you will
make yourself available to the Company for six months post-Separation Date
either by telephone or, if the Company believes necessary, in person upon
reasonable notice at reasonable normal business hours, to assist the Company in

 

 

connection
with any matter relating to services performed by you on behalf of the Company
prior to the Separation Date;

 

v.             That the
Company, upon request by any third party, will give its highest recommendation
for employment for you; and

 

vi.            That a breach
of this Section shall constitute a material breach of this Agreement.

 

5.             Release of Claims.

 

You
hereby agree and acknowledge that by signing this Agreement and accepting the
Separation Pay, and for other good and valuable consideration, you are waiving
your right to assert any and all forms of legal claims against the Company,(1) whether
known or unknown, arising from the beginning of time through the date you
execute this Agreement (the “Execution Date”). Except as set forth below, your
waiver and release herein is intended to bar any form of legal claim, complaint
or any other form of action (jointly referred to as “Claims”) against the
Company seeking any form of relief including, without limitation, equitable
relief (whether declaratory, injunctive or otherwise), the recovery of any
damages, or any other form of monetary recovery whatsoever (including, without
limitation, back pay, front pay, compensatory damages, emotional distress
damages, punitive damages, attorney fees and any other costs) against the
Company, for any alleged action, inaction or circumstances existing or arising
through the Execution Date.

 

Without
limiting the foregoing general waiver and release, you specifically waive and
release the Company from any Claim arising from or related to your prior
employment relationship with the Company or the termination thereof, including
without limitation.

 

**                                  Claims under
any state or federal discrimination, fair employment practices or other
employment related statute, regulation or executive order (as they may have
been amended through the Execution Date) prohibiting discrimination or
harassment based upon any protected status including, limitation, race,
national origin, age, gender, marital status, disability, veteran status or
sexual orientation. Without limitation, specifically included in this paragraph
are any Claims arising under: the Alabama Age Discrimination Act, the Alabama
Wage Payment Act, Title VII of the Civil Rights Acts of 1964, 42 U.S.C. §2000
et seq.; the Civil Rights Act of 1866, 42 U.S.C. §621 et seq.; the Older
Workers Benefit Protection Act, 29 U.S.C. §626; the Rehabilitation Act of 1973,
as amended, 29 U.S.C. §701 et seq.; the Americans with Disabilities Act, 42,
U.S.C. §12101 et seq.; and applicable state statutes and/or regulations; any other
local ordinances and/or statutes; and Executive Order 11246.

 

(1)   For purposes of this Agreement, the Company
includes the Company and any of its divisions, affiliates (which means all
persons and entities directly or indirectly controlling, controlled by or under
common control with the Company), subsidiaries and all other related entities,
and its and their directors, officers, employees, trustees, agents, successors
and assigns.

 

 

**                                  Claims under
any state or federal employment related statute, regulation or executive order
(as they may have been amended through the Execution Date) relating to other
terms and conditions of employment.  Without
limitation, specifically included in this paragraph are any Claims arising
under the Employee Retirement Income Security Act of 1974, the Consolidated
Omnibus Budge Reconciliation Act of 1985 (“COBRA”) and any similar state
statute.

 

**                                  Claims under
any state or federal common law theory including, without limitation, wrongful
discharge, breach of express or implied contract, promissory estoppel, unjust
enrichment, breach of a covenant of good faith and fair dealing, violation of
public policy, defamation, interference with contractual relations, intentional
or negligent infliction of emotional distress, invasion of privacy,
misrepresentation, deceit, fraud or negligence.

 

**                                  Any other Claim
arising under state or federal law.

 

**                                  Any and all
Claims for additional commissions, expenses, compensation or damages of any
kind other than the Separation Pay provided for by this Agreement; and any and
all Claims for attorney’s fees and costs.

 

The
Company hereby agrees and acknowledges that by signing this Agreement and
paying the Separation Pay, and for other good and valuable consideration, it is
waiving its right to assert any and all forms of legal claims against you,
whether known or unknown, arising from the beginning of time through the
Execution Date.  Except as set forth
below, the Company’s waiver and release herein is intended to bar any form of
legal claim, complaint or any other form of action (jointly referred to as “Claims”)
against you seeking any form of relief including, without limitation equitable
relief (whether declaratory, injunctive or otherwise), the recovery of any
damages any other form of monetary recovery whatsoever (including without
limitation, compensatory damages, punitive damages, attorney fees and any other
costs) against you, for any alleged action, inaction or circumstances existing
or arising through the Execution Date.

 

The
Company agrees to maintain directors & officers liability insurance in
an amount not less than $5,000,000 together with employment practices coverage
in an amount not less than $5,000,000 and fiduciary coverage in an amount not
less than $2,000,000 such coverage with a company licensed by the state of
Alabama to provide such insurance, to name you as a covered person, to provide
you with evidence of same within 5 days after written request of proof of
coverage and to require notice to you of termination not less than 30 days
prior to any termination.  In addition,
in accordance with the terms of our directors & officers policy, the
Company does hereby indemnify and hold you harmless from all damages,
liability, costs and expenses arising from any acts and omissions taken in your
capacity as an officer and employee of the Company, its subsidiaries and
affiliates, and shall defend you from any and all such claims at its expense
allowing you legal counsel mutually agreed upon by you and the Company.

 

Notwithstanding
the foregoing paragraphs, this Section 5 does not release either party
from any obligation expressly set forth in this Agreement.  Both parties further acknowledge and agree
that this Release of Claims does not waive any rights or claims for actions
that may occur 

 

 

after
this Agreement is signed and becomes effective, which is seven days following
your execution of the Agreement.

 

It
is the Company’s desire and intent to make certain that you fully understand
the provisions and effects of this Agreement. To that end, you have been
encouraged and given the opportunity to consult with legal counsel for the
purpose of reviewing the terms of this Agreement.  Also, because you are over the age of 40, and
consistent with the provisions of the Age Discrimination in Employment Act (“ADEA”),
which prohibits discrimination on the basis of age, the Company is providing
you with twenty-one (21) days in which to consider and accept the terms of this
Agreement by signing below and returning it to me at:  BioHorizons, 2300 Riverchase Center,
Birmingham, AL 35244.

 

You
may rescind your assent to this Agreement if, within seven (7) days after
you sign this Agreement, you deliver by hand or send by mail (certified, return
receipt and postmarked within such 7 day period) a notice of rescission to me
at the Company.  The eighth day following
your signing of this Agreement is the Effective Date.

 

Also, consistent with the provisions of the Federal Discrimination
Laws, nothing in this release shall be deemed to prohibit you from challenging
the validity of this release under the discrimination laws (the “Federal Discrimination
Laws”) or from filing a charge or complaint of employment-related
discrimination with the Equal Employment Opportunity Commission (“EEOC”), or
from participating in any investigation or proceeding conducted by the EEOC.  Further, nothing in this release or Agreement
shall be deemed to limit the Company’s right to seek immediate dismissal of
such charge or complaint on the basis that your signing of this Agreement
constitutes a full release of any individual rights under the Federal
Discrimination Laws, or to seek restitution to the extent permitted by law of
the economic benefits provided to you under this Agreement in the event that
you successfully challenge the validity of this release and prevail in any
claim under the Federal Discrimination Laws.

 

6.             Entire
Agreement/Modification/Waiver/Choice of Law/Enforceability.

 

This
Agreement supersedes any and all other prior oral and/or written agreements,
sets forth the entire agreement between you and the Company, and shall be
binding on and inure to the benefit of the parties, their legal
representatives, assigns, parents, subsidiaries, successors and all who succeed
to their rights.  No variations or
modifications hereof shall be deemed valid unless reduced to writing and signed
by the parties hereto.  This Agreement
shall be deemed to have been made in the State of Alabama, and the validity,
interpretation and performance of this Agreement shall be governed by, and
construed in accordance with, the internal law of the State of Alabama without
giving effect to conflict of law principles.  Both parties further agree that any action,
demand, claim or counterclaim shall be brought in a court located in the State
of Alabama, Shelby County.

 

The
terms of this Agreement are severable, and if for any reason any part hereof
shall be found to be unenforceable, the remaining terms and conditions shall be
enforced in full. Notwithstanding the foregoing and without waiving any rights
to appeal, the invalid or 

 

 

unenforceable
provision shall, if possible, be replaced by a valid and enforceable provision
that most closely approximates the intention of the Parties.

 

By executing this Agreement, you are acknowledging that:  (1) you have carefully read and
understand the terms and effects of this Agreement, including Section 4
entitled Release of Claims; (2) you understand that the Release of Claims
in Section 4 is legally binding and by signing this Agreement, you give up
certain rights, including rights and claims under the Age Discrimination in
Employment Act; (3) you have been afforded up to 21 days to understand the
terms and effects of this Agreement; (4) your agreements and obligations
hereunder are made voluntarily, knowingly and without duress; and (5) neither
the Company nor its agents or representatives have made any representations
inconsistent with the provisions of this Agreement.

 

If
the foregoing correctly sets forth our understanding, please sign, date and
return the enclosed copy of this Agreement to me within 21 days.

 

	
   

  	
  Sincerely,

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BioHorizons
  Implant Systems, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Andrea
  G. McCaskey

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  Vice
  President, Human Resources

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature:

  	
  /S/ Andrea G. McCaskey

  
	
   

  	
   

  	
   

  
	
   

  	
  Date
  executed by

  Company:

  	
  02/27/09

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Confirmed,
  Agreed and Acknowledged:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /S/ William Ross

  	
   

  	
   

  	
   

  
	
  WILLIAM
  ROSS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Dated:

  	
  02/27/09exhibit4220.htm

Exhibit 4.220

 

COLLATERAL ASSIGNMENT OF EXCHANGE AGREEMENT

 

This Collateral Assignment of Exchange Agreement (this “Assignment”) is made and entered into as of June 17, 2010 by and among Rental Car Finance Corp., an Oklahoma corporation (“RCFC”), DTG Operations, Inc., an Oklahoma corporation (“DTG Operations”), and Deutsche Bank Trust Company Americas, not in its individual capacity but as agent for the Beneficiaries (in such capacity, the “Master Collateral Agent”).

 

WHEREAS, RCFC, DTG Operations (formerly known as Dollar Rent A Car Systems, Inc.) and Thrifty Rent-A-Car System, Inc., an Oklahoma corporation (“Thrifty”), are each a party to that certain Master Exchange and Trust Agreement, dated as of July 23, 2001 (as amended by Amendment No. 1 to Master Exchange and Trust Agreement, dated as of April 23, 2010, and as the same may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms thereof, the “Exchange Agreement”), by and among RCFC, DTG Operations, Thrifty, Chicago Deferred Exchange Company, LLC (formerly known as Chicago Deferred Exchange Corporation) (“CDEC”), VEXCO, LLC, a Delaware limited liability company wholly owned by CDEC (the “Qualified Intermediary”), and Deutsche Bank Trust Company Americas, a New York banking association (as assignee from Bank of America, N.A. and ultimate successor in interest to The Chicago Trust Company).

 

WHEREAS, RCFC and DTG Operations are each a party to that certain Second Amended and Restated Master Collateral Agency Agreement, dated as of February 14, 2007, as amended by (i) that certain Amendment No. 1 to Second Amended and Restated Master Collateral Agency Agreement, dated as of June 2, 2009, and (ii) that certain Addendum to the Second Amended and Restated Master Collateral Agency Agreement (relating to the Series of Notes known as the Group VI Notes), dated as of the date hereof (the “Group VI Addendum”), and as the same may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms thereof, the “Existing Agreement”), among Dollar Thrifty Automotive Group, Inc., a Delaware corporation (“DTAG”), as master servicer (in such capacity the “Master Servicer”), RCFC, as a grantor, financing source and beneficiary, DTG Operations, as a grantor and servicer, various financing sources parties to the Existing Agreement, various beneficiaries parties to the Existing Agreement and the Master Collateral Agent.

 

WHEREAS, RCFC is a party to that certain Series 2010-2 Supplement to Amended and Restated Base Indenture, dated as of the date hereof (as the same may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms thereof, the “Series 2010-2 Supplement” and, together with any Series Supplement to the Base Indenture with respect to the issuance of any additional Group VI Series of Notes, the “Group VI Supplements”), between RCFC and the Trustee.

 

WHEREAS, the Group VI Addendum and the Series 2010-2 Supplement contemplate that this Assignment be entered into prior to commencing the Exchange Program as to Group VI Collateral.

 

NOW THEREFORE, for good and valid consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

 

  

  

  

Section 1.            Definitions.  Capitalized terms used herein and not otherwise defined herein shall have the meaning set forth therefor in the Group VI Addendum or if not defined therein, elsewhere in the Existing Agreement (including by reference to any Group VI Supplement).

 

“Escrow Account” means a segregated trust account established, consistent with the requirements of the “safe harbor” provisions of Treasury Regulations §§ 1.1031(k)-1(g)(4) and 1.1031(k)-1(g)(6), in accordance with the terms of the Exchange Agreement and into which are deposited the Exchange Proceeds and other funds with which to purchase Group VI Replacement Vehicles.

 

“Exchange Proceeds” means as of any given time the sum of (i) the money or other property from the sale of any Group VI Exchanged Vehicle that is held in an Escrow Account as of such time; (ii) any interest or other amounts earned on the money or other property from the sale of any Group VI Exchanged Vehicles that is held in an Escrow Account as of such time; (iii) any amounts receivable from auctions, dealers or other Persons on account of Group VI Exchanged Vehicles; (iv) the money or other property from the sale of any Group VI Exchanged Vehicle held in the Master Collateral Account for the benefit of the Qualified Intermediary as of such time; and (v) any interest or other amounts earned on the money or other property from the sale of any Group VI Exchanged Vehicle held in the Master Collateral Account for the benefit of the Qualified Intermediary as of such time.

 

“Financed Vehicles” shall have the meaning set forth in Schedule I to the Base Indenture.

 

“Group VI Collateral” shall have the meaning set forth in the Group VI Supplements.

 

“Group VI Exchanged Vehicle” means a Group VI Vehicle that is transferred to the Qualified Intermediary in accordance with the “safe harbor” provisions of Treasury Regulation § 1.1031(k)-1(g)(4) and pursuant to the procedures set forth in the Exchange Agreement and thereby ceases to be a Group VI Vehicle.

 

“Group VI Replacement Vehicle” means a Vehicle designated by the Master Servicer as comprising Group VI Collateral acquired in exchange for a Group VI Exchanged Vehicle in accordance with the terms of the Exchange Agreement and under Section 1031 of the Code and the regulations promulgated thereunder.

 

“Identification Period” shall mean with respect to each Group VI Exchanged Vehicle transferred, the period beginning on the date such Group VI Exchanged Vehicle is transferred and ending at midnight on the 45th day thereafter, irrespective of whether such day is a weekend day or a holiday.

 

“Rapid Amortization Period” shall mean the Series 2010-2 Rapid Amortization Period (as such term is defined in the Series 2010-2 Supplement) and the corresponding period with respect to each additional Group VI Series of Notes.

 

 

  

2

  

“Relinquished Property Agreement” shall mean each agreement relating to the sale or disposition of a Group VI Exchanged Vehicle, including but not limited to agreements with any motor vehicle manufacturer, importer, distributor or other supplier of vehicles.

 

“Replacement Property Agreement” shall mean each agreement relating to the acquisition of a Group VI Replacement Vehicle.

 

“Unused Exchange Proceeds” means the Exchange Proceeds that are not used to acquire Group VI Replacement Vehicles and which are transferred from an Escrow Account to the Master Collateral Account for the benefit of RCFC or DTG Operations in accordance with the terms of the Exchange Agreement.

 

Section 2.              Collateral Assignment.

 

(a)           RCFC hereby assigns, pledges and grants a continuing, first priority security interest in all of RCFC’s right, title and interest in, to and under the Exchange Agreement and all proceeds thereof, including Unused Exchange Proceeds, subject to the limitations on RCFC’s right to receive, pledge, borrow or otherwise obtain the benefits of the Exchange Proceeds contained in the “safe harbor” provisions of Treasury Regulation §§ 1.1031(k)-1(g)(4)(ii) and 1.1031(k)-1(g)(6) and in the Exchange Agreement, to the Master Collateral Agent and the Master Collateral Agent hereby accepts such assignment, pledge and grant, including the limitations, which the Master Collateral Agent hereby acknowledges.  To the extent the foregoing relates to Group VI Exchanged Vehicles, the foregoing collateral shall be for the benefit of the Group VI Series of Notes (as such term is defined in the Group VI Supplements) and shall, together with any and all proceeds, products, offspring, rents or profits of any and all of the foregoing, be included in Group VI Master Collateral (as such term is defined in the Group VI Supplements).

 

(b)           DTG Operations hereby assigns, pledges and grants a continuing, first priority security interest in all of DTG Operations’ right, title and interest in, to and under the Exchange Agreement with respect to Financed Vehicles and all proceeds thereof, including Unused Exchange Proceeds, subject to the limitations on DTG Operations’ right to receive, pledge, borrow or otherwise obtain the benefits of the Exchange Proceeds contained in the “safe harbor” provisions of Treasury Regulation §§ 1.1031(k)-1(g)(4)(ii) and 1.1031(k)-1(g)(6) and in the Exchange Agreement, to the Master Collateral Agent and the Master Collateral Agent hereby accepts such assignment, pledge and grant, including the limitations, which the Master Collateral Agent hereby acknowledges.  To the extent the foregoing relates to Group VI Exchanged Vehicles, the foregoing collateral shall be for the benefit of the Group VI Series of Notes and shall, together with any and all proceeds, products, offspring, rents or profits of any and all of the foregoing, be included in Group VI Master Collateral.

 

Section 3.               Representations and Covenants.

 

(a)           RCFC hereby covenants and agrees that it shall:  (i) comply with the reporting requirements set forth in Section 2.3 of the Exchange Agreement, Section 4.20 of the Series 2010-2 Supplement and any corresponding section in any Series Supplement with respect to each additional Group VI Series of Notes; (ii) report to the Master Collateral Agent the balance of the amount of Exchange Proceeds as of a given date within one (1) Business Day of the receipt by RCFC of a written request for such information; and (iii) promptly deliver to the Qualified Intermediary each notice contemplated to be delivered by it under Section 5.11 of the Exchange Agreement if such notice relates to a Group VI Exchanged Vehicle.

 

 

  

3

  

 

(b)           RCFC hereby covenants and agrees that during any Rapid Amortization Period:  (i) the rights assigned to the Qualified Intermediary under each RCFC Replacement Property Agreement and RCFC Relinquished Property Agreement shall be revoked and no further Group VI Collateral shall be transferred from the Master Collateral Account to an RCFC Escrow Account and (ii) RCFC shall revoke the identification of all Group VI Replacement Vehicles to be acquired in exchange for Group VI Exchanged Vehicles transferred by RCFC in cases where the Identification Period for such Group VI Exchanged Vehicles does not end prior to the first day of any Rapid Amortization Period.  RCFC represents that its performance of the covenants set forth in the first sentence of this Section 3(b) is consistent with RCFC’s rights to the Exchange Proceeds under the Exchange Agreement.

 

(c)           DTG Operations hereby covenants and agrees that during any Rapid Amortization Period:  (i) the rights assigned to the Qualified Intermediary under each Dollar Replacement Property Agreement and Dollar Relinquished Property Agreement shall be revoked and no further Group VI Collateral shall be transferred from the Master Collateral Account to a Dollar Escrow Account and (ii) DTG Operations shall revoke the identification of all Group VI Replacement Vehicles to be acquired in exchange for Group VI Exchanged Vehicles transferred by DTG Operations in cases where the Identification Period for such Group VI Exchanged Vehicles does not end prior to the first day of any Rapid Amortization Period.  DTG Operations represents that its performance of the covenants set forth in the first sentence of this Section 3(c) is consistent with DTG Operations’ rights to the Exchange Proceeds under the Exchange Agreement.

 

Section 4.               Amendment to Exchange Agreement.

 

(a)           RCFC hereby agrees that its rights under the Exchange Agreement will not be modified without the prior written consent of the Master Collateral Agent; provided, however, that the Master Collateral Agent hereby consents to any modifications to the following Exhibits to the Exchange Agreement:  (i) Exhibit 2.2(d) (relating to the revocation of the assignment of certain RCFC Relinquished Property Agreements, DTG Operations Relinquished Property Agreements and Thrifty Relinquished Property Agreements to the Qualified Intermediary); (ii) Exhibit 4.2(d) (relating to the revocation of the assignment of certain RCFC Replacement Property Agreements, DTG Operations Replacement Property Agreements and Thrifty Replacement Property Agreements to the Qualified Intermediary); (iii) Exhibit 5.2 (setting forth the names of each Escrow Account); (iv) Exhibit 5.7 (setting forth contact information in the event of a Shortfall Amount); and (v) Exhibit 8.8 (setting forth notification information).  DTG Operations hereby agrees that its rights under the Exchange Agreement will not be modified without the prior written consent of the Master Collateral Agent if such modification would cause the representation set forth in the last sentence of Section 3(c) to be false.

 

 

  

4

  

(b)           Each of RCFC and DTG Operations hereby severally (and not jointly) agrees that:  (i) it will not agree to modify, amend or supplement the Exchange Agreement in a manner which would adversely affect the interests of the Group VI Noteholders without the prior written consent of the Required Noteholders of all Group VI Notes and (ii) a copy of any amendment, modification or supplement to the Exchange Agreement will be provided to the Group VI Noteholders at least ten (10) days prior to the execution of any amendment, modification or supplement to the Exchange Agreement, other than a modification, amendment or supplement to the following Exhibits to the Exchange Agreement:  (i) Exhibit 2.2(d) (relating to the revocation of the assignment of certain RCFC Relinquished Property Agreements, DTG Operations Relinquished Property Agreements and Thrifty Relinquished Property Agreements to the Qualified Intermediary); (ii) Exhibit 4.2(d) (relating to the revocation of the assignment of certain RCFC Replacement Property Agreements, DTG Operations Replacement Property Agreements and Thrifty Replacement Property Agreements to the Qualified Intermediary); (iii) Exhibit 5.2 (setting forth the names of each Escrow Account); (iv) Exhibit 5.7 (setting forth notification information); and (v) Exhibit 8.8 (setting forth contact information in the event of a Shortfall Amount).

 

Section 5.                      Severability.  Any provision of this Assignment that is prohibited or unenforceable in any jurisdiction shall not invalidate 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 6.                      Counterparts.  This Assignment may be executed in separate counterparts and by the different parties on different counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument.

 

Section 7.                      Binding Effect.  This Assignment shall be binding upon and inure to the benefit of each of the parties hereto, each Financing Source and Beneficiary and their respective successors and assigns.  Nothing herein is intended or shall be construed to give any other Person any right, remedy or claim under, to or in respect of this Assignment or the Group VI Master Collateral.

 

Section 8.                      Governing Law.  This Assignment shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York, without regard to the conflicts of laws principles thereof other than Section 5-1401 of the New York General Obligations Law.

 

 

  

5

  

IN WITNESS WHEREOF, each party hereto has executed this Assignment as of the day and year first above written.

 

RENTAL CAR FINANCE CORP.

 

By:_____________________________

Name:

Title:

 

DTG OPERATIONS, INC.

 

By:_____________________________

Name:

Title:

 

	
  

	
DEUTSCHE BANK TRUST COMPANY 

     AMERICAS, not in its individual capacity but 

     solely as Master Collateral Agent

 

By:______________________________

Name:

Title:

 

By:______________________________

Name:

Title:

[DTAG – Collateral Assignment of Exchange Agreement – Group VI]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]