Document:

Contract for the Supply of RBD Palm Olein

 Exhibit 10.12 
  

			
	 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT.
THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

  

			
	

	 	

 Contract for the Supply of RBD Palm Olein 
  

					
	Buyer:	  	Imperium Renewables, Inc.
	 	  	1418 Third Avenue
		  	Suite 300
		  	Seattle, WA 98101
		  	USA
		
	Seller:	  	Cargill International Trading Pte Ltd
		  	300 Beach Road #23-01
		  	The Concourse
		  	Singapore 199555
		
	Product:	  	Refined Bleached and Deodorized Palm Olein (RBD Palm Olein)
		
	Quality and: Specifications	  	As per the Palm Oil Refiners Association of Malaysia (PORAM), final at loading:
			
		  	Free Fatty Acids (FFA) as palmitic	  	0.1% max
		  	Moisture & Impurities (M&I)	  	0.1% max
		  	Iodine value (IV) (Wijs method)	  	56 min
		  	Melting point (MP) (AOCS Cc 3-25) (Celsius)	  	24oC max
		  	Color (5 1/4” Lovibond cell)	  	3 Red max
		
		  	All specifications requirements under PORAM terms shall be automatically incorporated, subject to any changes from time to time.
		
	Shipment periods:	  	March 2007 through September 2009

  

			
	 	 	Shipment months shall be limited only to those months where other customers have bought a minimum of
20,000mt per month for delivery at Grays Harbor from the Seller.
		
		 	For those months where the Buyer is the sole buyer of the Seller for delivery at Grays Harbour, Seller shall not be obligated to sell any quantity to the Buyer unless the Buyer purchases a
minimum of 14,000mt per month.
		
		 	Nomination of shipment month by buyer to be provided minimum 45 days in advance of shipment month i.e.: 15th Feb 07 for April 07 shipment
		
		 	Buyer and Seller may mutually agree to extend the contract until 2012, based on such terms and conditions to be mutually agreed.

  

					
	Cargill Confidential May 2006	  	1

 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE
CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
  

  

			
		
	Packaging:	  	in bulk
		
	Quantity:	  	Buyer shall purchase a minimum quantity of [****] for 3 years. Buyer shall have the option to purchase quantities in excess of [****] subject to all the terms and conditions of this Contract
(including price, payment/security and vessel nomination) in relation to the increased portion. 
		
	Price:	  	Pricing to be concluded at later dates to suit buyer basis the following formulas:
		
		  	[****] market closing page: OILS/MY02 (or superceding page) basis ‘slr’ price, for FOB Olein per Poram specs -$[****] + $[****] non freight bogey/MT + $[****]/MT ocean
freight – pricing to be confirmed by 2.30pm Singapore time
		
		  	AND/OR
		
		  	[****] market closing page: OILS/MY02 (or superceding page) basis ‘slr’ price, for FOB Olein per Poram specs -$[****] + $[****] non freight bogey/MT + $[****]/MT ocean
freight – pricing to be confirmed by 9pm Singapore time
		
		  	Any positions quoted on [****] can be priced. Volumes in minimum 500mt lots, maximum 2500mt per day (unless mutually agreed otherwise). For positions unquoted on [****], fob prices and volumes
to be mutually agreed.
		
	 	  	(Where the [****] close is quoted in a ‘run’ i.e.: AMJ, the June price to be average of difference
between AMJ and JAS. E.g.: AMJ $495 JAS $510 therefore June = $500. Likewise
should we be
looking for July, price would be $505).
		
		  	Pricing of shipment to be finalized and contracts averaged into one contract for total volume 15 days prior to shipment month.
		
	Freight Efficiencies:	  	Should either party discover business opportunities to improve freight efficiencies (E.g. shipping biodiesel from Grays Harbor to Asia) such efficiencies and benefits shall be considered by each
party.
		
	Delivery basis:	  	Cost, Insurance, & Freight, (CIF) , as defined in Incoterms 2000, Grays Harbor, WA (USA).
		
	Payment:	  	Upon the final pricing of any individual shipment by Seller and Buyer (“Final Contract Price”), Buyer shall pay 10% prepayment (“Margin Call”) of the Final Contract Price,
within 48 hours after verbal confirmation of the final price between Seller to Buyer.
		
		  	For example on 6/Nov/06 1000mt is priced by buyer at $[****] May 2007 shipment FOB PKPG per [****] close. (CIF value $[****]) Then Buyer to pay $[****] to Cargill’s nominated bank value
date 8/Nov/06

  

					
	Cargill Confidential May 2006	  	2

 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE
CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
  

  

			
		
		  	In the event the market price (as determined by the [****] page) falls to [****] below the Final Contract Price, the Buyer shall immediately pay [****] of the Final CIF Contract Price.
Thereafter, the Buyer shall immediately pay [****] of the Final Contract Price upon each decline of [****] in the market price. In above example this payment would be made should [****] May 2007 Shipment price be quoted at $[****]
		
		  	No less than 7 days prior to shipment date, Buyer shall open irrevocable, unrestricted and freely negotiable At Sight Letter of Credit from a 1st class bank (on terms and such bank to be acceptable to Seller) for 100% of the contract value (“Letter of Credit”). Documents to be submitted
against Letter of Credit shall be invoice, bill of lading, survey certificate, certificate of origin and insurance certificate. The selection of the issuing bank advising bank and negotiating bank - pertaining to the Letter of Credit shall be
subject to Seller’s prior consent.
		
	 	  	Upon Seller’s acknowledgement of the full drawdown on the Letter of Credit, Seller shall return all cash
prepayment made by Buyer. Such reimbursement by Seller shall include shrinkage
costs that were
prepaid by the Buyer, calculated by the difference between the weight at the load and weight at
discharge, as determined by the surveyor’s certificate of weight at discharge.
		
	Contract conditions:	  	This Agreement will be subject to the terms, conditions and rules, including the arbitration clause and
rules in contract form no. 81 of the FOSFA in force at the date of
contract.
		
		  	Buyer agrees that the goods will not be resold to, disposed of, or be transported on a vessel or by other carrier owned, flagged or chartered by any country (including Cuba), person or entity
which would cause Seller to be in violation of or be penalized by US economic sanction laws. Additional information is available.
		
	Title:	  	Title to the Product shall pass to the Buyer upon Seller’s acknowledgement of the full drawdown on the Letter of Credit.
		
		  	This contract shall be governed by Incoterms 2000.
		
	Insurance:	  	Seller will be responsible for obtaining insurance for the Product with a first class Lloyds Underwriter, naming Buyer as an additional insured. The insurance certificate will be provided to
Buyer as part of the delivery documents.
		
		  	All other insurance terms to be as per FOSFA Trade Clauses “A”.
		
	Sampling and	  	Sampling by FOSFA approved labs for load port samples, to be 

  

					
	Cargill Confidential May 2006	  	3

			
		
	Analysis	  	treated as final, except for manifest error or fraud by Buyer or any third party
		
	Quality and weights:	  	Shipped quality final at load (to be determined by Sellers independent surveyor at load). Weights final at discharge (to be determined by independent Surveyor jointly appointed by Buyer and
Seller), except for manifest error or fraud by Buyer or any third party
		
		  	Quantity measurement and analyses as per FOSFA terms and treated as final, except for manifest error or fraud by Buyer or any third party
		
	Quantity tolerance:	  	The parties agree that the average of all contract prices pertaining to the single shipment month shall be considered by the Seller. The Seller shall have the sole option to deliver 5 percent
more or less than the contracted quantity.
		
	Vessel nomination:	  	Buyer shall provide Seller with at least 45 days written notice prior to commencement of desired shipment month. As soon as reasonably practicable, upon Seller fixing vessel on subs, Seller
shall notify Buyer of fixture and expected volume and estimated time of arrival at Grays Harbour.
		
		  	The last 3 cargoes on the vessel shall be clean and unleaded.
		
	Discharge:	  	Buyer undertakes and warrants that it will provide a discharge berth with a 38 ft draft.
		
		  	Buyer undertakes and warrants a discharge rate at Grays Harbour of 500 Metric tons per hour.
		
	Change of Delivery	  	In the event Buyer wishes to ship cargo to another port, Buyer and Seller shall use reasonable endeavours to mutually
		
	Location	  	agree on any variation in costs. In the event the parties fail to reach an agreement on cost variation within one week after they commence discussions, the default port of discharge shall be
Gray’s Harbour.
		
	Laytime and Demurrage:	  	Laytime to commence 6 hours after NOR tendered.
		
		  	Sweeping and squeezing shall be for vessel’s account, but time used for such activity shall not to count as lay time. Pumping shall be for vessel’s account.
		
		  	Demurrage as per Charter Party to be proved by Sellers to Buyers.
		
		  	Demurrage to be fully settled by Buyer within 30 days from presentation of supporting documents.
		
		  	For time charters, owner’s demurrage calculation and invoice shall be replaced by Seller’s demurrage calculation, which shall be treated as final.

  

			
	Cargill Confidential May 2006	  	4

			
		
	Commingling:	  	To the extent practicable: (i) Buyer’s cargo shall be segregated from other cargo on board the vessel (ii) Different grades shall be segregated from each other; (iii) no commingling shall
be allowed between Buyers cargo with different end receivers on the vessel unless mutually agreed between Seller and Buyer.
		
	Heating:	  	Seller will give heating instructions in accordance with the I.A.S.C. heating instructions.
		
	Termination:	  	Seller may terminate this Agreement by giving 30 days’ notice to Buyer if Buyer fails to make any payments properly due within the time provided for payment, following reasonable notice and
15 days’ notice to cure such payment default, or if Buyer commits a material breach of the provisions of this Agreement and, in case of a breach capable of remedy, fails to remedy the same with 30 days after receipt of written notice thereof
requiring the breach to be remedied, provided that for breaches that are not reasonably susceptible to remedy during such period, for such longer period as is necessary so long as Buyer is exercising reasonable efforts to remedy such
breach
		
		  	Buyer may terminate the Agreement if Seller commits any material breach of the provisions of this Agreement and, in case of a breach capable of remedy, fails to remedy the same within 30 days
after receipt of a written notice thereof requiring the breach to be remedied, provided that for breaches that are not reasonably susceptible to remedy during such period, for such longer period as is necessary so long as Seller is exercising
reasonable efforts to remedy such breach.
		
	Liability:	  	Failure by one party to notify the other party of any claim, other than claims arising from demurrage and any claims arising from the default by the Buyer, within ninety (90) calendar days
after B/L-date will constitute waiver by one party of any such claim. Buyer shall not be entitled to exercise any rights of set-off at any time.
		
		  	In no event shall Seller or Buyer be liable for loss of profits, good will or any other special, consequential or punitive damages in the event of any breach, default or claim under this
Agreement.
		
	Law and Arbitration:	  	This Agreement shall be governed and construed in accordance with the laws of the Republic of Singapore. Any dispute arising out of or in connection with this Agreement, including any
question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Singapore in accordance with the Arbitration Rules of Singapore International Arbitration Centre (“SIAC Rules”) for the
time being in force which rules are deemed to be incorporated by reference to this clause. The tribunal shall consist of one arbitrator to be appointed by the Chairman of SIAC. The language of the arbitration shall be English. Any determination made
by the arbitrators shall be final and binding judgment on any award may be entered in any court or competent jurisdiction.

  

			
	Cargill Confidential May 2006	  	5

			
		
	Default:	  	As per FOSFA terms (Contract 81 clause 29).
		
	Buyer’s Security:	  	Buyer agrees to make the Margin Calls described in the foregoing provisions.
		
	Seller’s Security:	  	Seller will provide Buyer with a corporate parent guarantee from Cargill Inc against which Buyer will be protected from non-performance of Seller. This guarantee shall be provided within 7
days of the date of this Agreement.
		
	No Waiver:	  	No waiver by either party of any breach of this agreement by the other party shall be construed as a waiver of any succeeding breach of the same or any other term or condition
hereof.
		
	Assignment:	  	Neither party will assign the whole or any part of its rights and obligations to third party directly or indirectly without the prior written consent of the other party, such consent not to
be unreasonably withheld.
		
	Force Majeure:	  	Force Majeure which includes, but is not limited to acts of God, fire, flood, earthquake, explosions, riots, civil commotions, war and acts of authorities, strikes, lockouts, accident to
machinery, delays en route or any cause of any kind of character reasonable beyond the control of the Party, affecting the Parties, shall for the duration of such contingencies and to the extent resulting there from release the Parties hereto from
their respective obligations pursuant to this Agreement except the obligation to make payment.
		
		  	As soon as there are signs that any of the foregoing contingencies will occur, the Party affected shall be obligated to notify the other Party immediately and shall discuss with the other
Party the effects of such contingencies on the provisions of this Agreement and what measures shall be taken. The Parties shall make every reasonable effort to prevent or limit the detrimental effects of such contingencies. They shall be obligated
to resume fulfilling their obligations under this Agreement as soon as possible.
		  	  
 In case Force Majeure lasts more than an aggregate/consecutive 180 days [in
any calendar year/on more than 3 occasions in a calendar year/] both Parties will be released permanently from their rights and obligations under this Agreement with no right to claim for damages caused by Force Majeure.

		
		  	FOSFA 81 Force Majeure clause shall apply to each individual shipment.
		
	Hardship Buyer:	  	If, at any time, there should be a substantial and unforeseen change in US legislation, customs regulations, actions taken by the authorities or other matters independent of the Parties that
prohibits or restricts the Buyer’s ability to produce biodiesel , or any substantial and unforeseen change in tax relief or any other incentives granted by any country which adversely affects the Buyer’s ability to produce biodiesel out of
Seller’s product sold hereunder, Buyer may immediately request a review of the contract terms. Such request to be made in writing and include supporting written evidence. The Parties shall meet promptly following such request and shall use best
endeavours to agree, in good faith, upon appropriate amendments, if any, to the contract terms. In the event of a claim for

  

					
	Cargill Confidential May 2006	  	6

	
	 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY
FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

			
		
		  	a hardship situation, Buyer shall disclose the relevant figures, which are responsible for the unforeseen change.
		
		  	In the event that no agreement is reached within thirty (30) days of such request for review, the parties shall wash out all existing open non-materialized orders for the remaining period of
the term of the Agreement at the prevailing price for the month in question.
		
		  	 For the wash out:
  
 For the palm olein fob portion, this shall be washed out at [****] OILS/MY02 ‘close’ up to a maximum of 10,000mt per day (unless otherwise mutually agreed by
Seller).

		
		  	For the freight portion of any unpriced contracts and of any CIF sales already priced, this shall be washed out at a price based on the average of quotes from 2 independent brokers (KL
Maritime, Kuala Lumpur and Riverside Shipping, UK) based on voyage rates for vessels with a capacity of 25,000mt from the Straits of Malacca to Grays Harbor, for those portions of contract which are undelivered during the contracted period and
pursuant to similar vessel terms and conditions under this Agreement
		
		  	‘Bogey’ shall be washed out at $4 at all times.
		
		  	“Wash out” means that Buyer sells product back to Seller based on a fair price agreed price as per the above. The wash out period shall commence immediately following the delivery
of the last shipment, which has been nominated and accepted under the provisions of this Agreement .
		
	Hardship Seller:	  	If, at any time, there should be a substantial and unforeseen change in the legislations of the palm oil countries of origin (i.e. a change in the legislations of Malaysia and Indonesia) that
adversely affects (including any restriction or prohibition of) the export of palm olein from any of the aforementioned countries, then Seller may immediately request a review of the contractual terms. Such request to be made in writing and include
supporting written evidence. The Parties shall meet promptly following such request and shall use best endeavours to agree upon appropriate amendments, if any, to the contract terms. In the event of a claim for a hardship situation Seller shall
disclose the relevant figures which are responsible for the unforeseen change,.
		
		  	In the event that no agreement is reached within thirty (30) days of such request for review, the Parties shall wash out all existing open non-materialized Contracts of Sale for the remaining
period of the term of the Agreement per the same procedure as Hardship Buyer clause. The wash out period shall commence immediately following the delivery of the last shipment which has been nominated and accepted under the provisions of the this
Agreement.

  

					
	Cargill Confidential May 2006	  	6

			
		
	 Sustainability:
	  	Seller and Buyer recognise that the sustainability of palm oil production is an important issue in the bio fuels market. Seller is a member of the Roundtable on Sustainable Palm Oil
(“RSPO”) and will be part of the pilot process to test the agreed criteria over the next two years on one of its plantations. Buyer and Seller agree to exchange information about the development of sustainability criteria for palm oil
production during the term of the Agreement. Seller agrees to offer Buyer a range of options for sustainable palm oil supply as they become available. Seller will work in good faith to develop the sustainability of palm oil production according to
the criteria relevant in the target market of the product.
	 Entire Agreement:
	  	Other than FOSFA 81 which is hereby incorporated at all times, this Agreement shall contain the entire agreement between the Parties and supersedes all previous negotiations, representations,
agreements or commitments with regards to its subject matter. In the event of any inconsistency between the terms of this Agreement and the terms of FOSFA 81, the terms herein shall prevail.
	Confidentiality:	  	The parties herein agree that the terms and conditions of this Agreement are to be kept private and confidential.

  

					
	Cargill Confidential May 2006	  	8

  

					
	Contact persons:	  		  	
			
	 Buyer:
	  		  	
			
	 Commercial
	  	 Mr. David Kirkpatrick
 Vice-President of Business
Development
 Imperium Renewables Inc.
	  	
			
		  	 Office: 206 254-0210
 Fax: 206 254-0204
 Mobile: 360 606-3206
 E-mail: david@imperiumrenewables.com
	  	
			
		  	 Mr. Brian Young
 Director of Business
Development
 Imperium Renewables Inc.
 Seattle Biodiesel
LLC
 Office: 206 254-0209
 Fax: 206 254-0204
 Mobile: 206 437-2611
 E-mail: brian@imperiumrenewables.com
	  	
			
	 Seller:
	  		  	
			
	 Commercial
	  	 Mr. Paul Hickman
 Office: 011 65 6393-8507

Fax: 011 65 6393-8898
 Mobile: 011 65 9825-4863
 E-mail: paul_hickman@cargill.com
	  	
			
	 Commercial/
	  	Mr. Gavin Johns	  	
	 Logistics
	  	 Office: 011 65 6393-8506
 Fax: 011 65
6393-8898
 Mobile: 011 65 9018-8759
 E-mail:
gavin_johns@cargill.com
	  	
			
	 Logistics
	  	 Mr. Nals Dixit
 Office: 011 65 6393-8414
 Fax: 011 65 6393-8898
 Mobile:011 65 9666-365
 E-mail: nals_dixit@cargill.com
	  	
			
	 Commercial/
	  	Mr. Edwin van der Hoek	  	
	 Logistics
	  	 Office: 952 742-4039
 Fax: 952 404-6290
 Mobile: 612 802-1543
 E-mail: Edwin_van_der_Hoek@cargill.com
	  	

  

					
	Cargill Confidential May 2006	  	9

 Written and signed, on the 22nd of November 2006, in two original copies, with one copy being retained by each of the
signing Parties. 
  

	
	        Imperium Renewables, Inc.
	
	                 /s/ John
Plaza

	        John Plaza, President
	
	and
	
	                 /s/ Martin
Tobias

	        Martin Tobias, CEO
	
	        Cargill International Trading Pte Ltd
	
	                 /s/ Paul
Hickman

	        Paul Hickman
	        Director
	
	and
	
	                 /s/ Gavin
Johns

	        Gavin Johns
	        Senior Trader

  

					
	Cargill Confidential May 2006	  	10Omnibus Amendment No. 2

 Exhibit 10.1 
 OMNIBUS AMENDMENT NO. 2 
 [AMENDMENT NO. 2 TO AMENDED AND RESTATED RECEIVABLES SALE 

AGREEMENT AND AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT] 
 THIS OMNIBUS AMENDMENT NO. 2 is entered into as
of May 18, 2007 by and among: 
 (a) Yellow Transportation, Inc., an Indiana corporation, Roadway Express, Inc., a
Delaware corporation, USF Reddaway Inc., an Oregon corporation, and USF Holland Inc., a Michigan corporation (each of the foregoing, an “Originator” and collectively, the “Originators”), 
 (b) Yellow Roadway Receivables Funding Corporation, a Delaware corporation (the “Seller”), 
 (c) JPMorgan Chase Bank, N.A., SunTrust Bank, Wachovia Bank, National Association, and ABN AMRO Bank, N.V. (each of the foregoing a
“Committed Purchaser”), 
 (d) Falcon Asset Securitization Company LLC (f/k/a Falcon Asset
Securitization Corporation), Three Pillars Funding LLC, Variable Funding Capital Company LLC (as assignee of Blue Ridge Asset Funding Corporation), and Amsterdam Funding Corporation (each of the foregoing, a “Conduit”),

 (e) YRC Assurance Co. Ltd., an exempted company incorporated with limited liability under the laws of Bermuda formerly
known as USF Assurance Co. Ltd., individually and as agent for itself (in such latter capacity, a “Co-Agent”), 
 (f) Wachovia Bank, National Association, as letter of credit issuer (the “LC Issuer”); 
 (g) SunTrust Capital Markets, Inc., Wachovia Bank, National Association, ABN AMRO Bank, N.A., and JPMorgan Chase Bank, N.A., as “Co-Agents,” and 
 (h) JPMorgan Chase Bank, N.A., as administrative agent for the Groups (together with its successors in such capacity, the
“Administrative Agent” and together with the Co-Agents, the “Agents”), 
 with respect to (i) that
certain Amended and Restated Receivables Sale Agreement, dated as of May 24, 2005, by and among the Originators and the Seller (as heretofore amended, the “Existing RSA”), and (ii) that certain Second Amended and
Restated Receivables Purchase Agreement, dated as of May 24, 2005, among the parties hereto other than the Originators (as heretofore amended, the “Existing RPA” and, together with the Existing RSA, the
“Existing Agreements”). 

 FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows: 
 1. Defined Terms. Capitalized terms used herein and not otherwise defined shall
have their meanings as attributed to such terms in the Existing Agreements. 
 2. Amendments. 
 2.1 All references in the Existing Agreements to “Falcon Asset Securitization Corporation” are hereby replaced with “Falcon Asset
Securitization Company LLC”. 
 2.2 Section 1.11 of the Existing RPA is hereby amended and restated in its entirety to read as
follows: 
 Section 1.11. Grant of Security Interest. 
 (a) The Seller hereby grants to the Administrative Agent for the ratable benefit of the Purchasers and the LC Issuer, a security interest
in all of its right, title and interest, now owned or hereafter acquired, in the Receivables, the Related Security, each Collection Account, the Collections and proceeds thereof to secure payment of the Aggregate Unpaids, including its indemnity
obligations under Article VIII and all other obligations owed hereunder to the Agents and the Purchasers. After a Servicer Default, the Administrative Agent, on behalf of the Purchasers and the LC Issuer, shall have, in addition to the rights and
remedies it may have under this Agreement, all other rights and remedies provided to a secured creditor after default under the UCC and other applicable law, which rights and remedies shall be cumulative. 
 (b) Notwithstanding the foregoing, the Agents, the Purchasers and the LC Issuer hereby consent to the Seller’s declaration and
payment to YRC Worldwide Inc. of dividends of Receivables as to which the Obligor thereof has taken any action, or suffered any event to occur, of the type described in Section 7.1(c) as if references to the Seller therein refer to such
Obligor (each, a “Bankrupt Receivable”) free and clear of any Adverse Claim of the Agents, the Purchasers or the LC Issuer, provided that (i) no Servicer Default or Potential Servicer Default exists and is
continuing as of the date on which such dividend is declared or made or will result from the making of such dividend; (ii) the Seller gives the Agents not less than 3 Business Days’ prior written notice of its intention to declare such a
dividend which identifies the applicable Obligor by name and the then current outstanding balance of the Bankrupt Receivables to be distributed; (iii) prior to accepting any dividend of a Bankrupt Receivable, YRC Worldwide Inc. delivers to the
Agents a written certificate signed by an authorized officer certifying that the Obligor on such Bankrupt Receivable either has been or will be promptly directed to make any payments in respect thereof to an address or account other than a
Collection Account; and (iv) distribution of a Bankrupt Receivable will not alter its status as a Defaulted Receivable or 

  

 2 

 
Delinquent Receivable, as applicable, as of any date prior to or in the month it is distributed pursuant to this Section 1.11(b). 
 2.3 The definitions in the Existing RPA of the following terms are hereby amended and restated in their entirety to read, respectively, as follows:

 “Calculation Period” means, for the purposes of any calculation defined herein which references a
“Calculation Period,” (i) during an Asynchronous Accounting Period, (A) in the case of any amounts used in such calculation derived from or associated with Receivables originated by Yellow Transportation, Inc. and Roadway
Express, Inc., the calendar month designated in the table below and (B) in the case of any amounts used in such calculation derived from or associated with Receivables originated by USF Reddaway Inc. and USF Holland Inc., the accounting period
designated in the table below, it being understood that “Calculation Period” is a collective term referring to both component periods as specified in (A) and (B) above and as indicated in the table below and the phrases
“Calculation Period most recently ended” and “as of the last day of the Calculation Period most recently ended” refer collectively to both respective component periods or the last day of both respective component periods (as the
case may be) as specified in (A) and (B) above and as indicated in the table below, or (ii) at all other times, each calendar month: 
  

							
	 CALCULATION
 PERIOD
	  	 CALENDAR MONTH
	  	 ACCOUNTING
 PERIOD
	  	 CORRESPONDING
DATES

	 5
	  	May 2007	  	4 weeks	  	4/29/07 to 5/26/07
	 6
	  	June 2007	  	5 weeks	  	5/27/07 to 6/30/07
	 7
	  	July 2007	  	4 weeks	  	7/1/07 to 7/28/07
	 8
	  	August 2007	  	4 weeks	  	7/29/07 to 8/25/07
	 9
	  	September 2007	  	5 weeks	  	8/26/07 to 9/29/07
	 10
	  	October 2007	  	4 weeks	  	9/30/07 to 10/27/07
	 11
	  	November 2007	  	4 weeks	  	10/28/07 to 11/26/07
	 12
	  	December 2007	  	5 weeks	  	11/27/07 to 12/29/07
	 1
	  	January 2008	  	4 weeks	  	12/30/07 to 1/26/08
	 2
	  	February 2008	  	4 weeks	  	1/27/08 to 2/23/08
	 3
	  	March 2008	  	5 weeks	  	2/24/08 to 3/29/08
	 4
	  	April 2008	  	4 weeks	  	3/30/08 to 4/26/08
	 5
	  	May 2008	  	4 weeks	  	4/27/08-5/24/08

 “Stated Liquidity Termination Date” means May 16,
2008 (or if such date is not a Business Day, the next preceding Business Day), as the same may be extended from time to time in accordance with the terms of Section 1.16. 
 2.4 Exhibit VIII to the Existing RPA is hereby amended and restated in its entirety to read as set forth in the Annex A hereto. 
 3. Representations and Warranties. In order to induce the other parties to enter into this Amendment, (a) the Seller hereby represents and
warrants to the Agents, the LC Issuer and the Purchasers that after giving effect to the amendments contained in Section 2 above, (i) no Servicer Default or Potential Servicer Default exists and is continuing as of the Effective Date

  

 3 

 
(as defined in Section 4 below), and (ii) each of the Seller’s representations and warranties contained in Section 3.1 of the Existing
RPA is true and correct as of the Effective Date, and (b) each of the Originators hereby represents and warrants to the Seller, the Agents, the LC Issuer and the Purchasers that after giving effect to the amendments contained in Section 2
above, no event has occurred and is continuing that will constitute an Event of Default or Potential Event of Default. 
 4. Effective
Date. This Amendment shall become effective as of the date first above written (the “Effective Date”) when the Administrative Agent has received counterparts of this Amendment, duly executed by each of the parties hereto.

 5. Ratification. Each of the Existing Agreements, as modified hereby, is hereby ratified, approved and confirmed in all respects.

 6. Reference to Agreement. From and after the Effective Date hereof, each reference in either of the Existing Agreements to
“this Agreement”, “hereof”, or “hereunder” or words of like import, and all references to either of the Existing Agreements in any and all agreements, instruments, documents, notes, certificates and other writings of
every kind and nature shall be deemed to mean the Existing RSA or the Existing RPA, as applicable, as modified by this Amendment. 
 7.
Costs and Expenses. The Seller agrees to pay all reasonable costs, fees, and out-of-pocket expenses (including reasonable attorneys’ fees and disbursements) incurred by the Agents in connection with the preparation, execution and
enforcement of this Amendment and any related amendments of their respective Liquidity Agreements. 
 8. CHOICE OF LAW. THIS AMENDMENT
SHALL BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW). 
 9. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. 
 <signature pages follow> 
  

 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and
delivered by their duly authorized officers as of the date hereof. 
  

			
	 YELLOW TRANSPORTATION, INC.

		
	By:	 	 /s/ Sheila Taylor

	Name:	 	Sheila Taylor
	Title:	 	Vice President, Finance

  

			
	 ROADWAY EXPRESS, INC.

		
	By:	 	 /s/ Terry Gerrond

	Name:	 	Terry Gerrond
	Title:	 	Vice President, Tax

  

			
	 USF REDDAWAY INC.

		
	By:	 	 /s/ Fritz Gerding

	Name:	 	Fritz Gerding
	Title:	 	Vice President Finance & CFO

  

			
	USF HOLLAND INC.
		
	By:	 	 /s/ Christopher Reehl

	Name:	 	Christopher Reehl
	Title:	 	Vice President Finance & CFO

  

			
	YELLOW ROADWAY RECEIVABLES FUNDING CORPORATION
		
	By:	 	 /s/ Todd Hacker

	Name:	 	Todd Hacker
	Title:	 	President

  

			
	 YRC ASSURANCE CO. LTD., AS AN UNCOMMITTED PURCHASER
AND AS YRCA AGENT

		
	By:	 	 /s/ Terry Gerrond

	Name:	 	Terry Gerrond
	Title:	 	Vice President, Tax

			
	 WACHOVIA BANK, NATIONAL ASSOCIATION, AS A COMMITTED PURCHASER,
AS LC ISSUER AND AS VFCC AGENT

		
	By:	 	 /s/ Eero H. Maki

	Name:	 	Eero H. Maki
	Title:	 	Director

  

			
	 VARIABLE FUNDING CAPITAL COMPANY LLC

	
	BY: WACHOVIA CAPITAL MARKETS, LLC, ITS
ATTORNEY-IN-FACT
		
	By:	 	 /s/ Douglas R. Wilson, Sr.

	Name:	 	Douglas R. Wilson, Sr.
	Title:	 	Director

  

			
	 SUNTRUST CAPITAL MARKETS, INC., AS THREE PILLARS
AGENT

		
	By:	 	 /s/ Michael G. Maza

	Name:	 	Michael G. Maza
	Title:	 	Managing Director

  

			
	 SUNTRUST BANK, AS A COMMITTED
PURCHASER

		
	By:	 	 /s/ John Giegerich

	Name:	 	John Giegerich
	Title:	 	Managing Director

  

			
	 THREE PILLARS FUNDING LLC

		
	By:	 	 /s/ Doris J. Hearn

	Name:	 	Doris J. Hearn
	Title:	 	Vice President

  

			
	 ABN AMRO BANK N.V., AS A COMMITTED PURCHASER AND
AS AMSTERDAM AGENT

		
	By:	 	 /s/ Thomas Educate

	Name:	 	Thomas Educate
	Title:	 	Senior Vice President

  

 6 

			
	AMSTERDAM FUNDING CORPORATION
		
	By:	 	 /s/ Jill A. Gordon

	Name:	 	Jill A. Gordon
	Title:	 	Vice President

  

			
	JPMORGAN CHASE BANK, N.A., AS A COMMITTED PURCHASER, AS FALCON AGENT
AND AS ADMINISTRATIVE AGENT
		
	By:	 	 /s/ Joseph Esposito

	Name:	 	Joseph Esposito
	Title:	 	Vice President

  

			
	FALCON ASSET SECURITIZATION COMPANY LLC
	
	BY: JPMORGAN CHASE BANK, N.A., ITS
ATTORNEY-IN-FACT
		
	By:	 	 /s/ Joseph Esposito

	Name:	 	Joseph Esposito
	Title:	 	Vice President

  

 7

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