Document:

EX-4.2

 Exhibit 4.2 
  

 
 NETAPP, INC., 

as Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
 FOURTH SUPPLEMENTAL
INDENTURE 
 Dated as of June 22, 2020 

$750,000,000 of 1.875% Senior Notes due 2025 

$550,000,000 of 2.375% Senior Notes due 2027 

and 
 $700,000,000 of 2.700% Senior
Notes due 2030 
  
  

 THIS FOURTH SUPPLEMENTAL INDENTURE (the “Fourth Supplemental Indenture”) is
dated as of June 22, 2020 between NETAPP, INC., a Delaware corporation (the “Company”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Trustee”). 

RECITALS 

A.    The Company and the Trustee executed and delivered an Indenture, dated as of December 12, 2012, (the
“Base Indenture” and, as supplemented by the Fourth Supplemental Indenture, the “Indenture”), to provide for the issuance by the Company from time to time of unsubordinated debt securities evidencing its unsecured
indebtedness. 
 B.    Pursuant to Board Resolution, the Company has authorized the issuance of $750,000,000 aggregate
principal amount of 1.875% Senior Notes due 2025 (the “2025 Notes”), $550,000,000 aggregate principal amount of 2.375% Senior Notes due 2027 (the “2027 Notes”) and $700,000,000 aggregate principal amount of
2.700% Senior Notes due 2030 (the “2030 Notes” and together with the 2025 Notes and the 2027 Notes, the “Notes”). 

C.    The entry into this Fourth Supplemental Indenture by the parties hereto is in all respects authorized by the
provisions of the Base Indenture. 
 D.    The Company desires to enter into this Fourth Supplemental Indenture pursuant
to Section 9.01 of the Base Indenture to establish the terms of the Notes in accordance with Section 2.01 of the Base Indenture and to establish the form of the Notes in accordance with Sections 2.01(a)(10) and 2.02 of the Base Indenture.

 E.    All things necessary to make this Fourth Supplemental Indenture a valid and legally binding agreement according
to its terms have been done. 
 NOW, THEREFORE, for and in consideration of the foregoing premises, the Company and the Trustee mutually
covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Notes as follows: 
 ARTICLE 1

 Section 1.01.    Terms of the Notes. 

The following terms relate to the Notes: 

(a)    The 2025 Notes shall constitute a series of securities having the title of “1.875% Senior Notes due
2025,” the 2027 Notes shall constitute a separate series of securities having the title of “2.375% Senior Notes due 2027” and the 2030 Notes shall constitute a separate series of securities having the title “2.700% Senior Notes
due 2030”. 
 (b)    The aggregate principal amounts of the 2025 Notes (the “Initial 2025 Notes”),
2027 Notes (the “Initial 2027 Notes”) and the 2030 Notes (the “Initial 2030  

 
Notes” and together with the Initial 2025 Notes and the Initial 2027 Notes, the “Initial Notes”) that may be initially authenticated and delivered under the Indenture
shall be $750,000,000, $550,000,000 and $700,000,000, respectively. The Company may from time to time, without the consent of the Holders of the applicable series of Notes, issue additional 2025 Notes (in any such case, “Additional 2025
Notes”), additional 2027 Notes (in any such case, “Additional 2027 Notes”) or additional 2030 Notes (in any such case, “Additional 2030 Notes”) having the same ranking and the same interest rate, maturity
and other terms as the Initial 2025 Notes, the Initial 2027 Notes or the Initial 2030 Notes, as applicable. Any Additional 2025 Notes and the Initial 2025 Notes, any Additional 2027 Notes and the Initial 2027 Notes and any Additional 2030 Notes and
the Initial 2030 Notes, as the case may be, shall each constitute a single series under the Indenture and all references to the 2025 Notes shall include the Initial 2025 Notes and any Additional 2025 Notes, all references to the 2027 Notes shall
include the Initial 2027 Notes and any Additional 2027 Notes and all references to the 2030 Notes shall include the Initial 2030 Notes and any Additional 2030 Notes, unless the context otherwise requires; provided that if such Additional 2025 Notes,
Additional 2027 Notes or Additional 2030 Notes are not fungible with the Initial 2025 Notes, Initial 2027 Notes or Initial 2030 Notes, as applicable, for U.S. federal income tax purposes, the applicable Additional Notes will have a separate CUSIP
number. The aggregate principal amounts of the Additional 2025 Notes, Additional 2027 Notes and Additional 2030 Notes shall be unlimited. 

(c)    The entire Outstanding principal of the 2025 Notes shall be payable on June 22, 2025, the entire Outstanding
principal of the 2027 Notes shall be payable on June 22, 2027, and the entire Outstanding principal of the 2030 Notes shall be payable on June 22, 2030. 

(d)    The rate at which the 2025 Notes shall bear interest shall be 1.875% per year. The date from which interest shall
accrue on the 2025 Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been paid, from June 22, 2020. The Interest Payment Dates for the 2025 Notes shall be June 22
and December 22 of each year, beginning December 22, 2020. Interest shall be payable on each Interest Payment Date to the holders of record at the close of business on the June 7 and December 7 prior to each Interest Payment Date
(with respect to the 2025 Notes, each a “regular record date”). The basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. 
 (e)    The rate at which the 2027 Notes shall bear interest shall be
2.375% per year. The date from which interest shall accrue on the 2027 Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been paid, from June 22, 2020. The Interest
Payment Dates for the 2027 Notes shall be June 22 and December 22 of each year, beginning December 22, 2020. Interest shall be payable on each Interest Payment Date to the holders of record at the close of business on the June 7
and December 7 prior to each Interest Payment Date (with respect to the 2027 Notes, each a “regular record date”). The basis upon which interest shall be calculated shall be that of a
360-day year consisting of twelve 30-day months. 

  
 2 

 (f)    The rate at which the 2030 Notes shall bear interest shall be
2.700% per year. The date from which interest shall accrue on the 2030 Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been paid, from June 22, 2020. The Interest
Payment Dates for the 2030 Notes shall be June 22 and December 22 of each year, beginning December 22, 2020. Interest shall be payable on each Interest Payment Date to the holders of record at the close of business on the June 7
and December 7 prior to each Interest Payment Date (with respect to the 2030 Notes, each a “regular record date”). The basis upon which interest shall be calculated shall be that of a
360-day year consisting of twelve 30-day months. 

(g)    The Notes shall be issuable in whole in the form of one or more registered Global Securities, and the Depositary
for such Global Securities shall be The Depository Trust Company, New York, New York. The Notes shall be substantially in the form attached hereto as Exhibit A (2025 Notes), Exhibit B (2027 Notes) and Exhibit C (2030 Notes), which are herein
incorporated by reference. The Notes shall be issuable in denominations of $2,000 or any integral multiple of $1,000 in excess thereof. 

(h)    Any series of Notes may be redeemed in whole or in part at the option of the Company prior to their respective
maturity dates, as provided in Section 1.03 hereof. 
 (i)    The Notes will not have the benefit of any sinking
fund. 
 (j)    Except as provided herein, the holders of the Notes shall have no special rights in addition to those
provided in the Base Indenture upon the occurrence of any particular events. 
 (k)    The Notes will be general
unsecured and unsubordinated obligations of the Company and will be ranked equally among themselves. 
 (l)    The Notes
are not convertible into shares of common stock or other securities of the Company. 
 (m)     The restrictive covenant
set forth in Section 1.04 hereof shall be applicable to the Notes. 
 (n)    The Designated Currency of the Notes
shall be Dollars. 
 Section 1.02.    Additional Defined Terms. 

As used herein, the following defined terms shall have the following meanings with respect to the Notes only: 

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance
or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken as a whole to any “person” (as that term
is used in Section 13(d)(3) of the Exchange Act) other than to the Company or one or more of its direct or indirect subsidiaries; (2) the adoption of a plan relating to the 

  
 3 

 
Company’s liquidation or dissolution; (3) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
“person” (as defined above), including any group defined as a person for the purpose of Section 13(d)(3) of the Exchange Act, becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of
shares of Voting Stock of the Company; or (4) the Company consolidates with, or merges with or into, any “person” (as defined above), or any “person” (as defined above) consolidates with, or merges with or into, the Company,
in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or the outstanding Voting Stock of such other “person” (as defined above) is converted into or exchanged for cash, securities or other
property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving
“person” (as defined above) or parent entity thereof immediately after giving effect to such transaction. Notwithstanding the foregoing, a transaction shall not be considered to be a Change of Control if (a) the Company becomes a
direct or indirect wholly-owned subsidiary of another person and (b) immediately following that transaction, a majority of the Voting Stock of such person is held by the direct or indirect holders of the Voting Stock of the Company immediately
prior to such transaction and in substantially the same proportion as immediately prior to such transaction. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Ratings Event. 
 “Comparable Treasury
Issue” means the United States Treasury security selected by the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the 2025 Notes, the 2027 Notes or the 2030 Notes to be redeemed,
as applicable, that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the 2025 Notes, the 2027 Notes or
the 2030 Notes to be redeemed, as applicable. 
 “Comparable Treasury Price” means, with respect to any Optional Redemption
Date, (a) the arithmetic average of the Reference Treasury Dealer Quotations for such Optional Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, or (b) if the Company obtains fewer than
four Reference Treasury Dealer Quotations, the arithmetic average of those quotations. 
 “Independent Investment Banker”
means the Reference Treasury Dealer appointed by the Company as Independent Investment Banker (initially, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities, Inc. or Morgan Stanley & Co. LLC). 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor Rating Categories
of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor Rating Categories of S&P); and the equivalent Investment Grade credit rating from any additional Rating Agency
or Rating Agencies selected by the Company. 

  
 4 

 “Moody’s” means Moody’s Investors Service, Inc. 

“Optional Redemption Date” when used with respect to any Note to be redeemed at the Company’s option, means the date
fixed for such redemption by or pursuant to Section 1.03 of this Fourth Supplemental Indenture. 
 “Optional Redemption
Price” when used with respect to any Note to be redeemed at the Company’s option, means the price at which it is to be redeemed pursuant to Section 1.03(b), of this Fourth Supplemental Indenture. 

“Par Call Date” means (i) with respect to the 2025 Notes, May 22, 2025 (1 month prior to the maturity date of the
2025 Notes), (ii) with respect to the 2027 Notes, April 22, 2027 (2 months prior to the maturity date of the 2027 Notes) and (iii) with respect to the 2030 Notes, March 22, 2030 (3 months prior to the maturity date of the 2030 Notes).

 “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P
ceases to rate the Notes or fails to make a rating of the Notes publicly available for any reason, a “nationally recognized statistical rating organization” within the meaning of Rule 3(a)(62) of the Exchange Act, selected by the
Company (as certified by a resolution of the Board of Directors) as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“Rating Category” means (i) with respect to S&P, any of the following categories: BBB, BB, B, CCC, CC, C and D (or
equivalent successor categories); (ii) with respect to Moody’s, any of the following categories: Baa, Ba, B, Caa, Ca, C and D (or equivalent successor categories); and (iii) the equivalent of any such category of S&P or Moody’s
used by another Rating Agency. In determining whether the rating of the Notes has decreased by one or more gradations, gradations within Rating Categories (+ and – for S&P; 1, 2 and 3 for Moody’s; or the equivalent gradations for
another Rating Agency) shall be taken into account (e.g., with respect to S&P, a decline in a rating from BB+ to BB, as well as from BB- to B+, will constitute a decrease of one gradation). 

“Rating Date” means the date of the first public announcement by the Company of the occurrence of a Change of Control (or
pending Change of Control). 
 “Ratings Event” means the occurrence of the events described in (a), (b) or (c) below
during the period commencing on a Rating Date and ending 60 days following the occurrence of such Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade
by any of the Rating Agencies): (a) in the event the applicable Notes are rated by both Rating Agencies on the Rating Date as Investment Grade, the rating of the applicable Notes shall be reduced so that the applicable Notes are rated below
Investment Grade by both Rating Agencies, (b) in the event the applicable Notes (1) are rated Investment Grade by one Rating Agency and below Investment Grade by the other Rating Agency on 

  
 5 

 
the Rating Date, the rating of the applicable Notes by such Rating Agency rating the Notes as Investment Grade shall be decreased by one or more gradations (including gradations within Rating
Categories, as well as between Rating Categories) so that the applicable Notes are then rated below Investment Grade by both Rating Agencies or (2) are rated below Investment Grade by both Rating Agencies on the Rating Date, the rating of the
applicable Notes by either Rating Agency shall be decreased by one or more gradations (including gradations within Rating Categories, as well as between Rating Categories) or (c) fewer than two Rating Agencies provide a rating for the
Applicable Notes. 
 “Reference Treasury Dealer” means each of (i) Goldman Sachs & Co. LLC, J.P. Morgan
Securities LLC, BofA Securities, Inc. and Morgan Stanley & Co. LLC and their respective successors and (ii) two other nationally recognized investment banking firms (or their affiliates) that the Company selects in connection with the
particular redemption, and their respective successors, provided that if at any time any of the above is not a primary U.S. Government securities dealer in the United States, the Company will substitute that entity with another nationally recognized
investment banking firm that the Company selects that is a primary U.S. Government securities dealer. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any Optional Redemption Date, the arithmetic average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case
as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such Optional Redemption Date. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and any
successor to its rating agency business. 
 “Treasury Rate” means, for any Optional Redemption Date, the rate per annum
equal to the semi-annual equivalent yield to maturity or interpolated yield to maturity, computed as the third business day immediately preceding that Optional Redemption Date, of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Optional Redemption Date. 

Section 1.03.    Optional Redemption. 

(a)    The provisions of Article Three of the Base Indenture, as amended by the provisions of this Fourth Supplemental
Indenture, shall apply to the Notes with respect to this Section 1.03. 
 (b)    The Notes shall be redeemable in
whole or in part at any time prior to the maturity date of the applicable series of notes, at the applicable Redemption Price. 

  
 6 

 “Redemption Price” means: 

(1)    In the case of the 2025 Notes, at any time prior to the Par Call Date, the greater of the following
amounts, plus accrued and unpaid interest thereon to, but not including, the redemption date: (A) 100% of the aggregate principal amount of the Notes to be redeemed; and (B) the “make-whole amount,” which means the sum of the present
values of the remaining scheduled payments that would be due if such Notes matured on the Par Call Date (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate (as defined below) plus 25 basis points, provided
that, if the 2025 Notes are redeemed on or after the Par Call Date, the Redemption Price will equal 100% of the principal amount of such Notes and the Redemption Price will not include a make-whole amount for the applicable Notes; 

(2)    In the case of the 2027 Notes, at any time prior to the Par Call Date, the greater of the following
amounts, plus accrued and unpaid interest thereon to, but not including, the redemption date: (A) 100% of the aggregate principal amount of the Notes to be redeemed; and (B) the “make-whole amount,” which means the sum of the present
values of the remaining scheduled payments that would be due if such Notes matured on the Par Call Date (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate (as defined below) plus 30 basis points, provided
that, if the 2027 Notes are redeemed on or after the Par Call Date, the Redemption Price will equal 100% of the principal amount of such Notes and the Redemption Price will not include a make-whole amount for the applicable Notes; and 

(3)    In the case of the 2030 Notes, at any time prior to the Par Call Date, the greater of the following
amounts, plus accrued and unpaid interest thereon to, but not including, the redemption date: (A) 100% of the aggregate principal amount of the Notes to be redeemed; and (B) the “make-whole amount,” which means the sum of the present
values of the remaining scheduled payments that would be due if such Notes matured on the Par Call Date (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate (as defined below) plus 30 basis points, provided
that, if the 2030 Notes are redeemed on or after the Par 

  
 7 

 
Call Date, the Redemption Price will equal 100% of the principal amount of such Notes and the Redemption Price will not include a make-whole amount for the applicable Notes; 

plus, in each case, accrued and unpaid interest thereon to, but excluding, the date of redemption. 

(c)    On and after the Optional Redemption Date for the Notes, interest shall cease to accrue on the applicable series of
Notes or any portion thereof called for redemption, unless the Company defaults in the payment of the Optional Redemption Price and accrued interest, if any. On or before 12:00 p.m., New York City time, on the Optional Redemption Date for the
applicable series of Notes, the Company shall deposit with the Trustee or a paying agent funds sufficient to pay the Optional Redemption Price of the Notes to be redeemed on the Optional Redemption Date, and (except if the date fixed for redemption
shall be an Interest Payment Date) accrued and unpaid interest, if any. If less than all of a series of Notes are to be redeemed, the Notes shall be redeemed in accordance with Section 3.02 of the Base Indenture. 

(d)    Notice of any optional redemption for the applicable series of Notes shall be electronically delivered or mailed at
least 15 days but not more than 60 days before the Optional Redemption Date to each holder of the applicable series of Notes to be redeemed; provided, however, that the Company shall notify the Trustee of the Optional Redemption Date at least 15
days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the Trustee). Such notice shall be provided in accordance with Section 3.02 of the Base Indenture; provided that, in lieu of mailing,
notices may be electronically delivered to Holders of the Notes at their last electronic mailing addresses as they shall appear upon the Security Register. If the Optional Redemption Price cannot be determined at the time such notice is to be given,
the actual Optional Redemption Price, calculated as described above in clause (b), shall be set forth in an Officers’ Certificate of the Company delivered to the Trustee no later than two (2) Business Days prior to the Optional Redemption
Date. Notice of redemption having been given as provided in the Indenture, the Notes called for redemption shall, on the Optional Redemption Date, become due and payable at the Optional Redemption Price, and accrued and unpaid interest, if any, to,
but excluding, the Optional Redemption Date. 
 Section 1.04.    Additional Covenant. 

The following additional covenant shall apply with respect to the Notes so long as any of the Notes remain Outstanding: 

(a)    Change of Control Repurchase Event. 

(i)    If a Change of Control Repurchase Event occurs with respect to the Notes, unless the Company shall
have exercised its option to redeem the Notes in full, as set forth in Section 1.03 of this Fourth Supplemental Indenture, or the Company shall have defeased the Notes or have satisfied and discharged the Notes, as set forth in Article XI of
the Base Indenture, the Company shall make 

  
 8 

 
an offer (the “Change of Control Offer”) to each holder of the Notes to repurchase any and all of such holder’s Notes at a repurchase price in cash equal to 101% of the
aggregate principal amount of Notes to be repurchased (such principal amount to be equal to $2,000 or an integral multiple of $1,000 in excess of $2,000), plus accrued and unpaid interest, if any, on the Notes to be repurchased up to, but excluding,
the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Repurchase Event, or, at the option of the Company, prior to any Change of Control, but after the public announcement of such
Change of Control, the Company shall mail or electronically deliver notice to the Holders of the Notes (with a copy to the Trustee), which shall (A) describe the transaction or transactions that constitute or may constitute the Change of
Control Repurchase Event; (B) offer to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed or electronically delivered (the
“Change of Control Payment Date”); (C) state the instructions, as determined by the Company, that a Holder must follow in order to have its Notes repurchased; and (D) state that the offer to repurchase is conditioned on the
Change of Control Repurchase Event, if mailed or electronically delivered prior to the date of consummation of the Change of Control. Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the Change of
Control Payment Date shall be payable on the applicable Interest Payment Date to the Securityholders of such Notes registered as such at the close of business on the applicable record date pursuant to the Notes and the Indenture. 

(ii)    On the Change of Control Payment Date, the Company shall, to the extent lawful: 

(A)    accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of
Control Offer; 
 (B)    deposit with the paying agent an amount equal to the Change of Control Payment
in respect of all Notes or portions of Notes properly tendered; and 
 (C)    deliver or cause to be
delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate stating (1) the aggregate principal amount of each series of Notes being repurchased, (2) that all conditions precedent contained herein to
make a Change of Control Offer have been complied with and (3) that the Change of Control Offer has been made in compliance with the Indenture. 

(iii)    Notwithstanding the foregoing, the Company will not be required to make an offer to repurchase the
Notes upon a Change of Control Repurchase Event, if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly
tendered and not withdrawn under its offer. 

  
 9 

 (iv)    If Holders of not less than 95% in aggregate
principal amount of the applicable series of Outstanding Notes validly tender and do not withdraw such Notes in an offer to repurchase the Notes upon a Change of Control Repurchase Event and the Company, or any third party making an offer to
purchase the Notes upon a Change of Control Repurchase Event in lieu of the Company pursuant to Section 1.04 purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company shall have the right, upon not less than 30
nor more than 60 days’ prior written notice, given not more than 30 days following the Change of Control Payment Date, to redeem all Notes of that series that remain outstanding following such purchase at a redemption price in cash equal to
101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of redemption. 

(v)    The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a
Change of Control Repurchase Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of this Section 1.04, the Company shall comply with the applicable securities
laws and regulations and shall not be deemed to have breached its obligations under this Section 1.04 by virtue of any such conflict. 

Section 1.05.    Events of Default. 

With respect to the Notes, “Event of Default” means any one or more of the following events that has occurred and is
continuing: 
 (a)    default in the payment of the principal or any premium on any Note of that series when due
(whether at maturity, upon acceleration, redemption or otherwise); 
 (b)    default for 30 days in the payment of
interest on any Note of such series when due; 
 (c)    failure by the Company to observe or perform any term of the
Indenture (other than those referred to in (a) or (b) above and other than a covenant or agreement included in this Fourth Supplemental Indenture not for the benefit of such series) for a period of 60 days after the Company receives a notice of
default stating that the Company is in breach. The notice must be sent by either the Trustee or Holders of not less than 25% of the principal amount of the Notes of the affected series; 

(d)    failure by the Company to repurchase the Notes tendered for repurchase following the occurrence of a Change of
Control Repurchase Event in conformity with Section 1.04 of this Fourth Supplemental Indenture; 

  
 10 

 (e)    the entry by a court having competent jurisdiction of: 

(i)    an order for relief in respect of the Company in an involuntary proceeding under any Bankruptcy Law
and such order shall remain unstayed and in effect for a period of 60 consecutive days; or 
 (ii)    a
final and non-appealable order appointing a Custodian, of the Company, or ordering the winding up or liquidation of the affairs of the Company, and such order shall remain unstayed and in effect for a period
of 60 consecutive days; 
 (f)    the commencement by the Company of a voluntary proceeding under any Bankruptcy Law or
the consent by the Company to the entry of a decree or order for relief in an involuntary proceeding under any Bankruptcy Law or the filing by the Company of a consent to an order for relief in any involuntary proceeding under any Bankruptcy Law or
to the appointment of a Custodian or the making by the Company of an assignment for the benefit of creditors; 

(g)    (i) a failure to make any payment at maturity, including any applicable grace period, of any indebtedness of the
Company (other than indebtedness of the Company owing to any of its direct or indirect Subsidiaries) in an amount in excess of $100,000,000 and continuance of this failure to pay or (ii) a default on any indebtedness of the Company (other than
indebtedness owing to any of its direct or indirect Subsidiaries), which default results in the acceleration of such indebtedness in an amount in excess of $100,000,000 without such indebtedness having been discharged or the acceleration having been
cured, waived, rescinded or annulled, in the case of clause (i) or (ii) above, for a period of 30 days after written notice thereof to the Company by the Trustee or to the Company and the Trustee by the Holders of not less than 25% in principal
amount of Outstanding Notes of such series (including any Additional Notes), provided, however, that if any failure, default or acceleration referred to in clause (i) or (ii) above ceases or is cured, waived, rescinded or annulled, then the
Event of Default will be deemed cured. 
 ARTICLE 2 

MISCELLANEOUS 

Section 2.01.    Definitions. 

Capitalized terms used but not defined in this Fourth Supplemental Indenture shall have the meanings ascribed thereto in the Base Indenture.

 Section 2.02.    Confirmation of Indenture. 

The Base Indenture, as supplemented and amended by this Fourth Supplemental Indenture, is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect, including, without limitation, the legal and covenant defeasance provisions set forth in Section 11.03; provided that

  
 11 

 
references in Section 11.03 of the Base Indenture to “Holders” shall be deemed to be to “beneficial owners.” The Base Indenture, this Fourth Supplemental Indenture and
all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 

Section 2.03.    Concerning the Trustee. 

In carrying out the Trustee’s responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it
possesses under the Indenture. The recitals contained herein and in the Notes, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this Fourth Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. 

Section 2.04.    Governing Law. 

This Fourth Supplemental Indenture and the Notes shall be deemed to be a contract made under the internal laws of the State of New York, and
for all purposes shall be construed in accordance with the laws of said State. 
 Section 2.05.    Separability. 

In case any provision in this Fourth Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 2.06.    Counterparts. 

This Fourth Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts
shall together constitute but one and the same instrument. The exchange of copies of this Fourth Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Fourth
Supplemental Indenture as to the parties hereto and may be used in lieu of the original Fourth Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures
for all purposes. All notices, approvals, consents, requests and any communications hereunder must be in writing (provided that any such communication sent to Trustee hereunder must be in the form of a document that is signed manually or by way of a
digital signature provided by EchoSign or other electronic signature provider that the Company plans to use (or such other digital signature provider as specified in writing to Trustee by the authorized representative), in English. Company agrees to
assume all risks arising out of the use of using digital signatures and electronic methods to submit communications to Trustee, including without limitation the risk of Trustee acting on unauthorized instructions, and the risk of interception and
misuse by third parties. 

  
 12 

 Section 2.07.    No Benefit. 

Nothing in this Fourth Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors
or assigns, and the holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this Fourth Supplemental Indenture or the Base Indenture. 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be
duly executed all as of the day and year first above written. 
  

					
	NETAPP, INC.
		
	By:	 	 /s/ Michael J. Berry

		 	Name:	 	Michael J. Berry
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

  
 [Signature Page to
Fourth Supplemental Indenture] 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be
duly executed all as of the day and year first above written. 
  

					
	U.S. BANK NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	 /s/ Paula Oswald

		 	Name:	 	Paula Oswald
		 	Title:	 	Vice President

  
 [Signature Page to
Fourth Supplemental Indenture] 

 EXHIBIT A 

FORM OF 1.875% SENIOR NOTES DUE 2025 

[Insert the Global Security legend, if applicable] 

NETAPP, INC. 
 1.875%
SENIOR NOTES DUE 2025 
  

			
	No. [    ]	  	$[        ]
	CUSIP No. [    ]	  	
	ISIN No. [    ]	  	

 NetApp, Inc., a Delaware corporation, for value received, promises to pay to
[                    ] or registered assigns, the principal sum of
[                    ] DOLLARS ($[        ]) on June 22, 2025. 

Interest Payment Dates: June 22 and December 22 

Record Dates: June 7 and December 7 

Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the
Indenture described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained
herein and in the Indenture and waives reliance by such holder upon said provisions. 
 This Security shall not be entitled to any benefit
under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Security are continued on the reverse side hereof,
and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with Section 2.04
of the Base Indenture. 
  

	
	NETAPP, INC.
	
	  

	Name:
	Title:
	
	  

	Name:
	Title:

  
 A-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series designated therein referred to in the within-mentioned Indenture. 

Date:
                     
  

			
	U.S. Bank National Association,
	as Trustee
		
	By:	 	     

		 	Authorized Signatory

  
 A-3 

NETAPP, INC. 1.875% SENIOR NOTE DUE 2025 

 (Reverse of Note) 

NetApp, Inc. 
 1.875%
Senior Notes due 2025 
 This security is one of a duly authorized series of debt securities of NetApp, Inc., a Delaware corporation (the
“Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s unsubordinated debt securities, dated as of December 12, 2012 (the “Base Indenture”), duly executed and
delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Fourth Supplemental Indenture, dated as of June 22, 2020 (the “Fourth Supplemental Indenture”), by and between the
Company and the Trustee. The Base Indenture as supplemented and amended by the Fourth Supplemental Indenture is referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable
in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This security is one of the series designated on the face hereof (individually, a “Security,” and
collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the
“Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Fourth Supplemental Indenture, as applicable. 

 

	 	1.	 Interest. The Company promises to pay interest on the principal amount of this Security at an annual
rate of 1.875%. The Company will pay interest semi-annually on June 22 and December 22 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date, Optional Redemption Date or maturity date of this
Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue
for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid,
from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be December 22, 2020. Interest will be calculated on the basis of a
360-day year of twelve 30-day months. 

  

	 	2.	 Method of Payment. The Company will pay interest on the Securities (except defaulted interest), if any,
to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the Securities or a portion thereof are
called for redemption or there is a Change of 

  
 A-4 

	 	
Control Offer, and the Optional Redemption Date or the Change of Control Payment Date, as applicable, is subsequent to a regular record date with respect to any Interest Payment Date and prior to
such Interest Payment Date, interest on such Securities will instead be paid upon presentation and surrender of such Securities as provided in the Indenture. The principal of and the interest on the Securities shall be payable in the coin or
currency of the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in accordance with the Indenture. 

 

	 	3.	 Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee, will act as paying
agent and Security Registrar. The Company may change or appoint any paying agent or Security Registrar without notice to any Securityholder. The Company or any of its direct or indirect wholly-owned subsidiaries may act in any such capacity.

  

	 	4.	 Indenture. The terms of the Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and TIA for a statement
of such terms. The Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “1.875% Senior Notes due 2025”, initially limited to $750,000,000 in aggregate principal amount.
The Company will furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Fourth Supplemental Indenture. Requests may be made to: NetApp, Inc., 1395 Crossman Avenue, Sunnyvale, California 94089,
Attention: General Counsel. 

  

	 	5.	 Redemption. The Securities may be redeemed at the option of the Company prior to the maturity date, as
provided in Section 1.03 of the Fourth Supplemental Indenture. 

 The Company shall not be required to make sinking
fund payments with respect to the Securities. 
  

	 	6.	 Change of Control Repurchase Event. Upon the occurrence of a Change of Control Repurchase Event, unless
the Company has exercised its right to redeem this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security will have the right to require that the Company purchase all or a portion
(such principal amount to be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000) of this Security at a purchase price equal to 101% of the principal amount repurchased plus accrued and unpaid interest, if any, on the amount to be
repurchased to the date of purchase. Within 30 days following any Change of Control Repurchase Event, or, at the option of the Company, prior to any Change of Control but after the public announcement of the Change of Control, the Company shall
send, by first class mail or electronic delivery, a notice to each Holder, in accordance with Section 1.04(a)(i) of the Fourth Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control
Offer. 

  
 A-5 

	 	7.	 Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the
denominations of $2,000 or any integral multiple of $1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. No service charge will be made for any registration of transfer
or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be required to: (i) issue, register the transfer of, or exchange any
Security during a period beginning at the opening of business 30 days before the day of mailing of a notice of redemption of less than all of the outstanding Securities of the same series and ending at the close of business on the day of such
mailing; (ii) register the transfer of or exchange any Security of any series or portions thereof selected for redemption, in whole or in part, except the unredeemed portion of any such Security being redeemed in part; nor (iii) register
the transfer of or exchange of a Security of any series between the applicable record date and the next succeeding Interest Payment Date. 

  

	 	8.	 Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes.

  

	 	9.	 Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the
Trustee, or then held by the Company, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least one year after
the date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall, upon request of the Company, be repaid to the Company, or (if then held by the Company) shall be discharged
from such trust. After return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors. 

 

	 	10.	 Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series
at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security. 

  
 A-6 

	 	11.	 Defaults and Remedies. If an Event of Default with respect to the securities of a series issued pursuant
to the Fourth Supplemental Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities of such series then Outstanding, by notice in writing to the Company (and to the Trustee if
notice is given by such holders), may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be
continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it. Upon
satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding securities of a series issued pursuant to the Fourth Supplemental Indenture will have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the securities of such series. 

 

	 	12.	 Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain
limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security
Registrar. 

  

	 	13.	 No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement of the
Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor
or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it
being expressly understood that the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators,
stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants
or agreements contained in the Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such
rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the
Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 

  
 A-7 

	 	14.	 Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and
defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

  

	 	15.	 Authentication. This Security shall not be valid until the Trustee manually signs the certificate of
authentication attached to the other side of this Security. 

  

	 	16.	 Abbreviations. Customary abbreviations may be used in the name of a Securityholder or an assignee, such
as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	17.	 Governing Law. The Base Indenture, the Fourth Supplemental Indenture and this Security shall be deemed
to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 

  
 A-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 

 

	
	  

	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                                        
                                         
                                        agent
to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

Date:                   
   

	
	Your Signature:
	
	  

	(Sign exactly as your name appears on the face of this Security)

  

	
	Signature
Guarantee:                                       
          

  
 A-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.04(a) of the Fourth Supplemental Indenture,
check the box: 
  

	☐	 Section 1.04(a) Change of Control Repurchase Event 

If you want to elect to have only part of this Security purchased by the Company pursuant to Section 1.04(a) of the Fourth Supplemental
Indenture, state the amount: $        . 
  

							
	Date:                     	 		 		 	Your Signature:
		 		 		 	(Sign exactly as your name appears on the other side of the Security)
				
		 		 		 	Tax I.D. number

  

			
	Signature Guarantee:	 	 

                     
                                         
                           

		 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

  
 A-10 

 EXHIBIT B 

FORM OF 2.375% SENIOR NOTES DUE 2027 

[Insert the Global Security legend, if applicable] 

NETAPP, INC. 
 2.375%
SENIOR NOTES DUE 2027 
  

			
	No. [    ]	  	$[        ]
	CUSIP No. [    ]	  	
	ISIN No. [    ]	  	

 NetApp, Inc., a Delaware corporation, for value received, promises to pay to
[                    ] or registered assigns, the principal sum of
[                    ] DOLLARS ($[        ]) on June 22, 2027. 

Interest Payment Dates: June 22 and December 22 

Record Dates: June 7 and December 7 

Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the
Indenture described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained
herein and in the Indenture and waives reliance by such holder upon said provisions. 
 This Security shall not be entitled to any benefit
under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Security are continued on the reverse side hereof,
and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 B-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with Section 2.04
of the Base Indenture. 
  

	
	NETAPP, INC.
	
	  

	Name:
	Title:
	
	  

	Name:
	Title:

  
 B-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series designated therein referred to in the within-mentioned Indenture. 

Date:                     

 

			
	U.S. Bank National Association,
	as Trustee
		
	By:	 	     

		 	Authorized Signatory

 NETAPP, INC. 2.375% SENIOR NOTE DUE 2027 

  
 B-3 

 (Reverse of Note) 

NetApp, Inc. 
 2.375%
Senior Notes due 2027 
 This security is one of a duly authorized series of debt securities of NetApp, Inc., a Delaware corporation (the
“Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s unsubordinated debt securities, dated as of December 12, 2012 (the “Base Indenture”), duly executed and
delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Fourth Supplemental Indenture, dated as of June 22, 2020 (the “Fourth Supplemental Indenture”), by and between the
Company and the Trustee. The Base Indenture as supplemented and amended by the Fourth Supplemental Indenture is referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable
in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This security is one of the series designated on the face hereof (individually, a “Security,” and
collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the
“Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Fourth Supplemental Indenture, as applicable. 

 

	 	1.	 Interest. The Company promises to pay interest on the principal amount of this Security at an annual
rate of 2.375%. The Company will pay interest semi-annually on June 22 and December 22 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date, Optional Redemption Date or maturity date of this
Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue
for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid,
from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be December 22, 2020. Interest will be calculated on the basis of a
360-day year of twelve 30-day months. 

  

	 	2.	 Method of Payment. The Company will pay interest on the Securities (except defaulted interest), if any,
to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the Securities or a portion thereof are
called for redemption or there is a Change of 

  
 B-4 

	 	
Control Offer, and the Optional Redemption Date or the Change of Control Payment Date, as applicable, is subsequent to a regular record date with respect to any Interest Payment Date and prior to
such Interest Payment Date, interest on such Securities will instead be paid upon presentation and surrender of such Securities as provided in the Indenture. The principal of and the interest on the Securities shall be payable in the coin or
currency of the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in accordance with the Indenture. 

 

	 	3.	 Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee, will act as paying
agent and Security Registrar. The Company may change or appoint any paying agent or Security Registrar without notice to any Securityholder. The Company or any of its direct or indirect wholly-owned subsidiaries may act in any such capacity.

  

	 	4.	 Indenture. The terms of the Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and TIA for a statement
of such terms. The Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “2.375% Senior Notes due 2027”, initially limited to $550,000,000 in aggregate principal amount.
The Company will furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Fourth Supplemental Indenture. Requests may be made to: NetApp, Inc., 1395 Crossman Avenue, Sunnyvale, California 94089,
Attention: General Counsel. 

  

	 	5.	 Redemption. The Securities may be redeemed at the option of the Company prior to the maturity date, as
provided in Section 1.03 of the Fourth Supplemental Indenture. 

 The Company shall not be required to make sinking
fund payments with respect to the Securities. 
  

	 	6.	 Change of Control Repurchase Event. Upon the occurrence of a Change of Control Repurchase Event, unless
the Company has exercised its right to redeem this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security will have the right to require that the Company purchase all or a portion
(such principal amount to be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000) of this Security at a purchase price equal to 101% of the principal amount repurchased plus accrued and unpaid interest, if any, on the amount to be
repurchased to the date of purchase. Within 30 days following any Change of Control Repurchase Event, or, at the option of the Company, prior to any Change of Control but after the public announcement of the Change of Control, the Company shall
send, by first class mail or electronic delivery, a notice to each Holder, in accordance with Section 1.04(a)(i) of the Fourth Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control
Offer. 

  
 B-5 

	 	7.	 Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the
denominations of $2,000 or any integral multiple of $1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. No service charge will be made for any registration of transfer
or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be required to: (i) issue, register the transfer of, or exchange any
Security during a period beginning at the opening of business 30 days before the day of mailing of a notice of redemption of less than all of the outstanding Securities of the same series and ending at the close of business on the day of such
mailing; (ii) register the transfer of or exchange any Security of any series or portions thereof selected for redemption, in whole or in part, except the unredeemed portion of any such Security being redeemed in part; nor (iii) register
the transfer of or exchange of a Security of any series between the applicable record date and the next succeeding Interest Payment Date. 

  

	 	8.	 Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes.

  

	 	9.	 Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the
Trustee, or then held by the Company, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least one year after
the date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall, upon request of the Company, be repaid to the Company, or (if then held by the Company) shall be discharged
from such trust. After return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors. 

 

	 	10.	 Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series
at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security. 

  
 B-6 

	 	11.	 Defaults and Remedies. If an Event of Default with respect to the securities of a series issued pursuant
to the Fourth Supplemental Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities of such series then Outstanding, by notice in writing to the Company (and to the Trustee if
notice is given by such holders), may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be
continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it. Upon
satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding securities of a series issued pursuant to the Fourth Supplemental Indenture will have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the securities of such series. 

 

	 	12.	 Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain
limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security
Registrar. 

  

	 	13.	 No Recourse Against Others. No recourse under or upon any obligation, covenant or
agreement of the Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of
any predecessor or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise; it being expressly understood that the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the
obligations, covenants or agreements contained in the Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of,
and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or
agreements contained in the Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 

  
 B-7 

	 	14.	 Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and
defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

  

	 	15.	 Authentication. This Security shall not be valid until the Trustee manually signs the certificate of
authentication attached to the other side of this Security. 

  

	 	16.	 Abbreviations. Customary abbreviations may be used in the name of a Securityholder or an assignee, such
as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	17.	 Governing Law. The Base Indenture, the Fourth Supplemental Indenture and this Security shall be deemed
to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 

  
 B-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                         
                                         
                                       agent to transfer
this Security on the books of the Company. The agent may substitute another to act for him. 

Date:                      

 

	
	Your Signature:
	  

	(Sign exactly as your name appears on the face of this Security)

 Signature Guarantee:
                                         
                                        

  
 B-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.04(a) of the Fourth Supplemental Indenture,
check the box: 
  

	☐	 Section 1.04(a) Change of Control Repurchase Event 

If you want to elect to have only part of this Security purchased by the Company pursuant to Section 1.04(a) of the Fourth Supplemental
Indenture, state the amount: $        . 
  

							
	Date:                     	 		 		 	Your Signature:
		 		 		 	 (Sign exactly as your name appears on the other side of the Security)

 

		 		 		 	Tax I.D. number

  

			
	Signature Guarantee:	 	  

		 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

  
 B-10 

 EXHIBIT C 

FORM OF 2.700% SENIOR NOTES DUE 2030 

[Insert the Global Security legend, if applicable] 

NETAPP, INC. 
 2.700%
SENIOR NOTES DUE 2030 
  

			
	No. [    ]	  	$[        ]
	CUSIP No. [    ]	  	
	ISIN No. [    ]	  	

 NetApp, Inc., a Delaware corporation, for value received, promises to pay to
[                    ] or registered assigns, the principal sum of
[                    ] DOLLARS ($[        ]) on June 22, 2030. 

Interest Payment Dates: June 22 and December 22 

Record Dates: June 7 and December 7 

Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the
Indenture described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained
herein and in the Indenture and waives reliance by such holder upon said provisions. 
 This Security shall not be entitled to any benefit
under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Security are continued on the reverse side hereof,
and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 C-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with Section 2.04
of the Base Indenture. 
  

			
	NETAPP, INC.
	
	  

	Name:	 	
	Title:	 	
	
	  

	Name:	 	
	Title:	 	

  
 C-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series designated therein referred to in the within-mentioned Indenture. 

 

							
	Date:	 		 	
			
		 		 	U.S. Bank National Association,
		 		 	as Trustee
				
		 		 	By:	 	
                     

		 		 		 	Authorized Signatory

  
 NETAPP, INC. 2.700%
SENIOR NOTE DUE 2030 
 C-3 

 (Reverse of Note) 

NetApp, Inc. 
 2.700%
Senior Notes due 2030 
 This security is one of a duly authorized series of debt securities of NetApp, Inc., a Delaware corporation (the
“Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s unsubordinated debt securities, dated as of December 12, 2012 (the “Base Indenture”), duly executed and
delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Fourth Supplemental Indenture, dated as of June 22, 2020 (the “Fourth Supplemental Indenture”), by and between the
Company and the Trustee. The Base Indenture as supplemented and amended by the Fourth Supplemental Indenture is referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable
in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This security is one of the series designated on the face hereof (individually, a “Security,” and
collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the
“Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Fourth Supplemental Indenture, as applicable. 

 

	 	18.	 Interest. The Company promises to pay interest on the principal amount of this Security at an annual
rate of 2.700%. The Company will pay interest semi-annually on June 22 and December 22 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date, Optional Redemption Date or maturity date of this
Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue
for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid,
from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be December 22, 2020. Interest will be calculated on the basis of a
360-day year of twelve 30-day months. 

  

	 	19.	 Method of Payment. The Company will pay interest on the Securities (except defaulted interest), if any,
to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the Securities or a portion thereof are
called for redemption or there is a Change of 

  
 C-4 

	 	
Control Offer, and the Optional Redemption Date or the Change of Control Payment Date, as applicable, is subsequent to a regular record date with respect to any Interest Payment Date and prior to
such Interest Payment Date, interest on such Securities will instead be paid upon presentation and surrender of such Securities as provided in the Indenture. The principal of and the interest on the Securities shall be payable in the coin or
currency of the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in accordance with the Indenture. 

 

	 	20.	 Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee, will act as paying
agent and Security Registrar. The Company may change or appoint any paying agent or Security Registrar without notice to any Securityholder. The Company or any of its direct or indirect wholly-owned subsidiaries may act in any such capacity.

  

	 	21.	 Indenture. The terms of the Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and TIA for a statement
of such terms. The Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “2.700% Senior Notes due 2030”, initially limited to $700,000,000 in aggregate principal amount.
The Company will furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Fourth Supplemental Indenture. Requests may be made to: NetApp, Inc., 1395 Crossman Avenue, Sunnyvale, California 94089,
Attention: General Counsel. 

  

	 	22.	 Redemption. The Securities may be redeemed at the option of the Company prior to the maturity date, as
provided in Section 1.03 of the Fourth Supplemental Indenture. 

 The Company shall not be required to make sinking
fund payments with respect to the Securities. 
  

	 	23.	 Change of Control Repurchase Event. Upon the occurrence of a Change of Control Repurchase Event, unless
the Company has exercised its right to redeem this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security will have the right to require that the Company purchase all or a portion
(such principal amount to be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000) of this Security at a purchase price equal to 101% of the principal amount repurchased plus accrued and unpaid interest, if any, on the amount to be
repurchased to the date of purchase. Within 30 days following any Change of Control Repurchase Event, or, at the option of the Company, prior to any Change of Control but after the public announcement of the Change of Control, the Company shall
send, by first class mail or electronic delivery, a notice to each Holder, in accordance with Section 1.04(a)(i) of the Fourth Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control
Offer. 

  
 C-5 

	 	24.	 Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the
denominations of $2,000 or any integral multiple of $1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. No service charge will be made for any registration of transfer
or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be required to: (i) issue, register the transfer of, or exchange any
Security during a period beginning at the opening of business 30 days before the day of mailing of a notice of redemption of less than all of the outstanding Securities of the same series and ending at the close of business on the day of such
mailing; (ii) register the transfer of or exchange any Security of any series or portions thereof selected for redemption, in whole or in part, except the unredeemed portion of any such Security being redeemed in part; nor (iii) register
the transfer of or exchange of a Security of any series between the applicable record date and the next succeeding Interest Payment Date. 

  

	 	25.	 Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes.

  

	 	26.	 Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the
Trustee, or then held by the Company, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least one year after
the date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall, upon request of the Company, be repaid to the Company, or (if then held by the Company) shall be discharged
from such trust. After return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors. 

 

	 	27.	 Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series
at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security. 

  
 C-6 

	 	28.	 Defaults and Remedies. If an Event of Default with respect to the securities of a series issued pursuant
to the Fourth Supplemental Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities of such series then Outstanding, by notice in writing to the Company (and to the Trustee if
notice is given by such holders), may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be
continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it. Upon
satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding securities of a series issued pursuant to the Fourth Supplemental Indenture will have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the securities of such series. 

 

	 	29.	 Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain
limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security
Registrar. 

  

	 	30.	 No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement of the
Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor
or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it
being expressly understood that the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators,
stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants
or agreements contained in the Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such
rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the
Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 

  
 C-7 

	 	31.	 Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and
defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

  

	 	32.	 Authentication. This Security shall not be valid until the Trustee manually signs the certificate of
authentication attached to the other side of this Security. 

  

	 	33.	 Abbreviations. Customary abbreviations may be used in the name of a Securityholder or an assignee, such
as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	34.	 Governing Law. The Base Indenture, the Fourth Supplemental Indenture and this Security shall be deemed
to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 

  
 C-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                         
                                         
                                      agent to transfer
this Security on the books of the Company. The agent may substitute another to act for him. 
  

							
	Date:                    	 		 	    	 	
		 		 		 	Your Signature:
		 		 		 	  

		 		 		 	(Sign exactly as your name appears on the face of this Security)

  

			
	Signature Guarantee:	 	
                     
                                         
                   

  
 C-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.04(a) of the Fourth Supplemental Indenture,
check the box: 
  

	☐	 Section 1.04(a) Change of Control Repurchase Event 

If you want to elect to have only part of this Security purchased by the Company pursuant to Section 1.04(a) of the Fourth Supplemental
Indenture, state the amount: $        . 
  

							
	Date:                     	 		 	    	 	Your Signature:
		 		 		 	(Sign exactly as your name appears on the other side of the Security)
				
		 		 		 	Tax I.D. number

  

			
	Signature Guarantee:	 	
                     
                                         
                   

		 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

  
 C-10nick-ex10221_315.htm

Exhibit 10.22.1

BULK RECEIVABLES PURCHASE AND SALE AGREEMENT 
(LIMITED RECOURSE)

This Bulk Receivables Purchase and Sale Agreement (Limited Recourse) is entered into this 11th day of December, 2019 (the "Closing Date"), between Nicholas Financial, Inc., a Florida Corporation ("Buyer"), and Platinum Auto Finance of Tampa Bay, LLC, a Florida limited liability company ("Seller").

WHEREAS, Seller wishes to sell and Buyer wishes to buy all of Seller's rights, title and interest in and to certain retail installment sales contracts secured by liens on motor vehicles and certain promissory notes and security interests in motor vehicles securing such notes (collectively the "Receivables" and each a "Receivable"). 

NOW, THEREFORE, in consideration of these premises and of the mutual covenants and agreements hereinafter contained, the receipt and adequacy of which are hereby acknowledged, the Buyer and Seller hereby agree as follows:

ARTICLE I 
DEFINITIONS

Whenever used herein, the following words and phrases, unless the context otherwise requires, will have the following meanings:

"Accrued Interest":As of any date of determination with respect to a Receivable, the accrued

and unpaid interest of such Receivable.

"Agreement":

"Authorized Officer":

This Receivables Purchase and Sale Agreement, together with all exhibits hereto and all subsequent written amendments and supplements hereto and thereto.

With respect to any Person, any of the Chief Executive Officer, the President, the Treasurer, the Chief Financial Officer, any Vice President or any Assistant Treasurer of such Person, or any other officer of such Person authorized to act on behalf of such Person.

 

"Bill of Sale":The Bill of Sale in the form attached hereto as Exhibit A.

	
"Business Day":
	
Any day other than a Saturday or Sunday, or a day on which banking institutions in Tampa, Florida are authorized or obligated by law or executive order to be closed.
	
 

"Buyer":As defined in the first paragraph of this Agreement.

	
"Certificate of Title":
	
A document issued by a jurisdiction that evidences the owner(s) and lien holder(s), if any, of a motor vehicle registered in such jurisdiction.
	
 

	
"Closing":
	
The simultaneous delivery by Buyer and Seller on the Closing Date of documents and funds as provided for hereunder, as well as the performance by Buyer and Seller of all acts herein provided to be performed on the Closing Date.
	
 

"Closing Date":As defined in the first paragraph of this Agreement.
 
 

 

 

"Collections"

With respect to any Receivable, all cash collections and other cash proceeds of or relating to such Receivable, including, without limitation, (i) Scheduled Payments, (ii) prepayments, (iii) any late fees, (iv) any guaranty amounts, (v) any insurance proceeds (including any GAP benefits or waiver amount), (vi) any rebates, (vii) any liquidation proceeds or recoveries and (viii) all other cash proceeds of Related Security with respect to such Receivable.

 

	
"Contract":
	
With respect to a Receivable, either (i) the motor vehicle retail installment sales contract or (ii) the promissory note evidencing an Obligor's obligation to pay the indebtedness provided for therein and evidencing a security interest in the Financed Vehicle.

	
"Contract Rate":
	
With respect to a Receivable, the annualized rate of interest to be paid by the Obligor as set forth on the related Contract, which may or may not be the same as the federal Truth-in Lending Act / Regulation Z Annual Percentage Rate.

"Conveyed Property":As defined in Section 2.1 of this Agreement.

	
"Current Performing Contract":
	
A Performing Contract where, as of the Cut-Off Date, the Obligor is less than thirty (30) days past due with respect to all payments due thereunder.

"Current Servicer":Platinum Auto Finance

"Cut-Off Date":

"Damages":

Close of business on the date set forth as the "Cut-Off Date" on the Receivables Schedule, which date shall be the last day on which Seller accrues Interest with respect to Receivables on its servicing and accounting system(s).

With respect to a Person and a specified event, the losses, liabilities, reasonable costs and expenses actually incurred and appropriately documented by such Person resulting from such specified event.

 

"Delinquent Performing Contract":A Performing Contract where, as of the Cut-Off Date, payments

due on the Contract are thirty (30) days or more past due.

"Deposit Amount":Such amount retained by Buyer from the Purchase Price as set forth in

Section 3.3.

"Electronic Data File":The information and data provided by Seller to Buyer pursuant to Section

10.2(b) and set forth in Exhibit C.

"Financed Vehicle"A new or used motor vehicle, together with all accessions thereto, securing

an Obligor's indebtedness under the respective Receivable.

"Non-Performing Contract":Any contract that is not a Performing Contract or a Delinquent Performing

Contract.

2
 
 

 

 

"Material Adverse Effect":

means, with respect to Buyer, a material adverse effect on (i) the financial condition, business, operations or properties of such Person, taken as a whole, (ii) the ability of such Person to perform its obligations hereunder, (iii) the legality, validity or enforceability of this Agreement, or (iv) the legality, validity or enforceability of Buyer's interest in the Receivables.

 

"Obligor":The Person or Persons (other than the Seller) who executed a Contract and

is or are liable for all obligations thereunder.

With respect to a Receivable, as of a date of determination, the sum of (i) the Unpaid Principal Balance, plus (ii) all accrued and unpaid interest calculated at the Contract Rate and in accordance with the terms and conditions of the Contract.

A Contract where, as of the Cut-Off Date, (i) the Seller has no evidence that the Obligor intends to discontinue making all required payments under the Contract, (ii) the Seller has no evidence that Buyer will not be able to make contact with the Obligor following the Closing Date or that the Obligor is otherwise a "skip" risk, (iii) the account evidenced by the Contract, or the vehicle which secures the Contract, is not in the process of repossession, repossession hold, insurance claim, litigation or impoundment, (iv) the Contract is secured by a fully operable vehicle, and (v) the Obligor under the Contract has not filed, nor had filed against it a petition in bankruptcy.

Any individual, corporation, partnership, limited liability company, joint venture, association, joint stock company, trust (including any beneficiary thereto), unincorporated organization or government or any agency or political subdivision thereof.

The price paid on the Closing Date by Buyer to Seller for the Receivables purchased by Buyer on the Closing Date as calculated as provided in Section 3.1 hereof .

"Payoff':

"Performing Contract":

"Person":

"Purchase Price":

"Receivables File":The documents described in Section 10.2(d)  of this Agreement.

"Receivables Schedule":

"Recourse Period"

The schedule listing the Receivables to be purchased by Buyer on the Closing Date, substantially in the form of attached Exhibit B and containing the information set forth therein, and delivered in accordance with Section 10.2(a).

With respect to a particular Receivable and the related Contract, that period of time set forth in the Receivables Schedule, in accordance with Section 3.2(c), during which Seller owes to Buyer the recourse obligations set forth in Section 3.2.

 

3
 
 

 

 

"Related Security":With respect to any Receivable:

	
 
	
(i)
	
all of Seller's right, title and interest in and to the Contract and the Financed Vehicle;

	
 
	
(ii)
	
all security interests, liens, real property and/or personal property subject thereto from time to time purporting to secure payment of such Receivable, whether pursuant to the Contract related to the Receivable or otherwise, together with all financing statements or registration applications filed against an Obligor describing any collateral securing such Receivable;

	
 
	
(iii)
	
all letters of credit, insurance, guarantees and other agreements or arrangements of whatever character from time to time supporting or securing payment of the Receivable, whether pursuant to the Contract related to the Receivable or otherwise; and,

	
 
	
(iv)
	
the related Contract, all books, records and other information (including, without limitation, computer programs, tapes, discs, punch cards, data processing software and related property and rights), accounts and all general intangibles relating to such Receivable and the related Obligor.

"Repurchase Price":As defined in Section 5.4(b) of this Agreement.

"Scheduled Payment":

With respect to any Contract, the periodic payments payable under the terms of such Contract, excluding, without limitation, any sales and use tax or similar tax payments, insurance premiums or other charges due under the terms of such Contract and not due and owing to Seller under such Contract.

 

"Seller":As defined in the first paragraph of this Agreement.

	
"Servicing File":
	
With respect to each Receivable, the file delivered by Seller to Buyer, consisting of all documents necessary to service the Receivables.
	
 

"Servicing Transfer Date":The Closing Date.

"Unpaid Principal Balance":

With respect to a Receivable, as of a date of determination, the Obligor's original principal balance minus the cumulative principal portion of each installment received prior to such date from the Obligor and applied to reduce such balance, the application of such installment having been determined in accordance with the terms and conditions of the Contract.

 

4
 
 

 

 

ARTICLE II

PURCHASE AND SALE

Section 2.1.Purchase and Sale. Subject to the terms and conditions set forth in this Agreement, on the Closing Date, Seller hereby agrees to sell, assign, transfer, set over, and convey to Buyer, and Buyer agrees to purchase and accept, subject to the terms of this Agreement, (a) all of Seller's right, title and interest in and to those certain Receivables (together with the Related Security) identified on the Receivables Schedule; (b) all of the rights under any lender's single interest insurance policy relating to a Financed Vehicle for the benefit of the creditor of the related Contract (to the extent that such rights may be assigned or otherwise conveyed); (c) all documents contained in the related Receivables File and the Servicing File; and, (d) all proceeds derived from any of the foregoing, other than the Purchase Price, paid pursuant to this Agreement (collectively, the "Conveyed Property").

Section 2.2.True Sales.

(a)It is the express intention of Buyer and Seller that each transfer of Conveyed Property hereunder constitutes a true sale by Seller to Buyer that is absolute and irrevocable and that provides Buyer with the full benefits of ownership of the Conveyed Property, and not a pledge of such Conveyed Property by Seller to Buyer to secure a debt or other obligation of Seller. Consequently, the sale of each Conveyed Property shall be reflected as a sale on Seller's business records and financial statements. However, in the event that, notwithstanding the intent of the parties, any Conveyed Property is deemed not to have been transferred to Buyer, then (i) this Agreement also shall be deemed to be and hereby is a security agreement within the meaning of the UCC, and (ii) the conveyance by Seller provided for in this Agreement shall be deemed to be a grant by Seller to Buyer of, and Seller hereby grants to Buyer, a security interest in and to all of Seller's right, title and interest in, to and under the Conveyed Property, whether now or hereafter existing or created, to secure (1) the rights of Buyer hereunder, and (2) without limiting the foregoing, the payment and performance of Seller's obligations to Buyer.

(b)Buyer and Seller shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Conveyed Property, such security interest would be deemed to be a perfected security interest of first priority in favor of Buyer under applicable law and will be maintained as such throughout the term of this Agreement. Seller hereby authorizes Buyer or its designee to file one or more UCC financing or continuation statements, and amendments thereto and assignments thereof, relative to all or any of the Conveyed Property of Seller, in each case whether now existing or hereafter generated by Seller. Unless otherwise agreed to by the parties, Seller agrees to pay all reasonable out-of-pocket costs and expenses of Buyer, excluding fees and expenses of counsel, in connection with the perfection as against third parties of Buyer's right, title and interest in and to the Conveyed Property and the enforcement of any obligations of Seller under this Agreement.

Section 2.3.Examination of Receivables Files. Seller shall, prior to the date that is more than two (2) Business Days prior to the Closing Date, at Buyer's option, make the related Receivables Files available to Buyer or its designee(s), as applicable, for examination during normal business hours at Seller's offices or other location as agreed by Buyer and Seller. Buyer shall not be required to conduct, or have conducted on its behalf, any such examination. The fact that Buyer or its designee(s) have conducted or have determined not to conduct any partial or complete examination of the Receivables Files shall not affect (i) Buyer's (or any of its assignees') rights to demand repurchase in accordance with this Agreement, (ii) any of Seller's representations, warranties, covenants, or promises herein, or (iii) any other relief or remedy provided for in this Agreement.

5
 
 

 

 

ARTICLE HI

PURCHASE PRICE

Section 3.1.Purchase Price. The Purchase Price for each Receivable listed on the Receivables Schedule (together with the Related Security) shall be the percentage of par as stated in the Receivables Schedule, multiplied by the Unpaid Principal Balance as of the Cut-Off Date with respect to such Receivable. On the Closing Date, Buyer shall pay to Seller the Purchase Price as set forth in Section 10.3. Buyer shall own and be entitled to receive with respect to each purchased Receivable all Collections (whether or not received or recovered) from and after the Cut-Off Date, including, without limitation, (1) all principal due and owing on the Receivables, (2) all Accrued Interest on the Receivables; and (3) all other charges or payments due and owing and collections on the Receivables, in each case from and after the Cut-Off Date.

Section 3.2.Seller's Recourse Obligations.

(a)Seller understands and agrees that Buyer will not purchase Receivables hereunder unless Seller provides the recourse set forth herein.

(b)As an inducement to Buyer to purchase the Receivables hereunder, Seller hereby irrevocably and unconditionally agrees to repurchase any Receivable which meets or met the conditions for repurchase set forth below during the Recourse Period (as hereinafter defined).

(c)With respect to a particular Receivable and related Contract sold hereunder, the Recourse Period shall begin on the Closing Date and shall end when the Obligor has indefeasibly paid Buyer in full, in the Obligor's own funds, all Scheduled Payment specified for such Contract's Recourse Period set forth on the Receivables Schedule.

(d)Conditions for Repurchase. A Contract and related Receivable shall be subject to repurchase by Seller in the event the Obligor(s) thereunder, during the Recourse Period but not thereafter,

(i)Fail(s) to make a Schedule Payment, directly to Buyer, on or before the date same is due, in Obligor's own funds;

(ii)Fail(s) to maintain full-coverage insurance on the Financed Vehicle;

(iii)Causes or permits, directly or indirectly and for any reason or no reason, the repossession, taking, impoundment, replevin or sequestration of the Financed Vehicle, whether voluntarily or involuntarily, and whether by Seller, Buyer, or any other Person;

(iv)Causes or permits, directly or indirectly and for any reason or no reason, physical damage to the Financed Vehicle such that the related insurance company declares or determines the Financed Vehicle a "total loss" or similar designation, without regard to when such declaration or determination is made; or,

(v)Breaches any term of the Contract in any respect;

(vi)First payment default.

(e)Timing of Repurchase: Notice to Seller. At any time, Seller shall pay to Buyer the Repurchase Price with respect to a particular Receivable, in immediately available funds, within five (5)

6
 
 

 

 

days of Buyer's transmission to Seller of notice that such Receivable meets or met, during the Recourse Period, the conditions for repurchase set forth in Section 3.2(d).

Section 3.3.Deposit Amount / Seller's Right to Set-Off. The Deposit Amount shall be equal to

$n/a, which amount shall be retained by Buyer out of the Purchase Price to ensure that (i) the 
Seller and/or the Current Servicer transmit to Buyer all payments received by either such party after the Cut-Off Date with respect to Conveyed Property as set forth in Section 3.4, and (ii) Seller timely pays Buyer the Repurchase Price for any Receivable required to be repurchased pursuant to Sections 3.2 and 5.4. If Seller or Current Servicer, as applicable, shall fail to promptly remit such payments to Buyer, Buyer shall

be permitted to deduct the full amount of such payments from the Deposit Amount. Onn/a

Buyer shall remit to Seller, via wire transfer to such account as Seller shall direct, the Deposit Amount less amounts deducted in accordance herewith, and shall provide Seller a detailed accounting of the amounts so deducted.

Section 3.4.Payments Received by Seller On or After the Cut-Off Date. Buyer shall provide prompt written notice ("Notice") to Seller and the Current Servicer of any payments that it believes the Seller or the Current Servicer has received and which the Buyer is entitled to under the terms hereof, and Seller and/or Current Servicer agree to give Buyer Notice of any payments, with respect to the Conveyed Property, that it receives on or after the Cut-Off Date. Seller agrees to remit (or cause the Current Servicer to remit), within two Business Days of receipt of any Notice it receives from Buyer, or two days of the date of any such notice it gives to Buyer, any such payments that Seller has received to which Buyer is entitled hereunder. In the event that Seller or Current Servicer disputes that it has ever received a payment that is identified in a Notice, it shall give prompt written notice to Buyer that it has not, in fact, received any such payment. Upon receipt of such notice from Seller or Current Servicer, Buyer shall be obligated to submit written evidence to Seller and Current Servicer, which evidence must be reasonably satisfactory to Seller and Current Servicer, that such payment has, in fact, been received by Seller or Current Servicer. Upon written confirmation of Seller and Current Servicer of their receipt of such evidence (which confirmation will be sent to Buyer), Seller and Current Servicer, as applicable, shall be obligated to remit the full amount of such payment to Buyer.

ARTICLE IV 
TRANSFER

Section 4.1.Transfer Documentation; Notice.

(a)Notifying the Obligors of Buyer's ownership and servicing of the Receivables and related Contracts by the mailing of a letter, in the form attached as Exhibit D hereto, within five (5) Business Days of the Closing Date.

(b)Notifying the Obligors of Buyer's ownership and servicing of the Contracts during any in-person, telephonic, electronic, or other interactions with Obligors.

(c)With respect to a Financed Vehicle, providing to Buyer any documentation necessary to evidence clear chain of title to Seller. Seller has the obligation to transfer or change the lien holder of record on any Certificate of Title with respect to a Financed Vehicle, and any transfer or change of record lien holder shall be made at Seller's expense. Transfer or change of lien holder must take place within 30 days following the recourse period for the Financed Vehicle.

7
 
 

 

 

ARTICLE V

REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER

Section 5.1.General Representations and Warranties. Seller hereby represents and warrants to Buyer, as of the Closing Date, as follows:

(a)Organization and Good Standing. Seller is an entity duly organized, validly existing and in good standing under the laws of its state of organization, and has the corporate power and authority and all government licenses, authorizations, consents and approvals required in each jurisdiction in which its business is now conducted, to own its assets and to transact the business in which it is currently engaged. Seller is duly qualified to do business as a foreign entity where required and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would adversely affect Buyer's enforcement of the Contracts.

(b)Authorization; Binding Obligations. Seller has the power and authority to make, execute, deliver, and perform this Agreement and all of the transactions contemplated under this Agreement and has taken all necessary corporate action to authorize the execution, delivery, and performance of this Agreement. When executed and delivered, this Agreement will constitute the legal, valid and binding obligation of Seller enforceable in accordance with its terms, except as enforcement of such terms may be limited by bankruptcy, insolvency, or similar laws affecting the enforcement of creditors' rights generally and by the availability of equitable remedies.

(c)No Violations. The execution, delivery, and performance of this Agreement by Seller will not violate any provision of its articles of incorporation, bylaws or standing resolutions, any existing law or regulation or any order or decree of any court. or constitute a material breach of any mortgage, indenture, contract, or other agreement to which Seller is a party or by which Seller may be bound.

(d)Litigation. No litigation or administrative proceeding of or before any court, tribunal, or governmental body is currently pending, or to the knowledge of Seller threatened, against Seller or any of its properties or with respect to this Agreement which, if adversely determined, would have a Material Adverse Effect on the transactions contemplated by this Agreement.

(e)Licensing. Seller has obtained and currently holds all government licenses, authorizations, consents and approvals required to (i) sell the Financed Vehicles, (2) originate and purchase the Receivables, and (iii) service and collect the Receivables, in each jurisdiction in which Seller sells Financed Vehicles, originates or purchases Receivables, and services and collects Receivables.

Taxes. Seller has filed or caused to be filed all tax returns and reports required by law to have been filed by it and has paid all taxes, assessments and governmental charges thereby shown to be due on such returns, except any such taxes, assessments or charges (i) that are being diligently contested in good faith by appropriate proceedings and (ii) with respect to which no adverse claim has been imposed upon any Receivables.

(g)Solvency. As of the date of this Agreement, and after giving effect to the transactions contemplated by this Agreement, Seller will not (1) be insolvent (either because its financial condition is such that the sum of its debts is greater than the fair market value of its assets or because the fair saleable value of its assets is less than the amount required to pay its probable liabilities on its existing debts as they mature); (2) have unreasonably small capital with which to engage in its business; or (3) have incurred debts beyond its ability to pay as they become due.

8
 
 

 

 

Section 5.2.Representations and Warranties With Respect to Receivables. For each Receivable sold by Seller and purchased by Buyer hereunder. Seller represents and warrants to Buyer that, as of the Closing Date:

(a)Lawful Assignment. The Receivable has not been originated in and is not subject to the laws of any jurisdiction under which the transfer of such Receivable to Buyer pursuant to this Agreement is unlawful, void, or voidable or renders the related Contract unenforceable. Seller has not entered into any agreement with the related Obligor that prohibits, restricts, or conditions the assignment, pledge, or sale of any portion of such Receivable.

(b)Ownership; Origination. Seller originated or purchased the Receivable for fair value and in accordance with prudent and reasonable origination policies and procedures, and took possession thereof in the ordinary course of its business, and such Receivable was not at the time of Seller's origination or purchase thereof subject to a security interest. Seller has not sold, assigned or pledged the Receivable to any Person and, prior to the transfer of the Receivable by Seller to Buyer, has good and marketable title thereto free and clear of any encumbrance, equity, loan, pledge, charge, claim or security interest (except for any of the foregoing released prior to or in connection with the sale and transfer in accordance herewith) and was the sole owner thereof with full right to transfer the Receivable to Buyer. Seller acknowledges that Buyer has no obligation to any dealer with respect to dealer participations and shall indemnify and hold Buyer and its assigns harmless with respect to same.

(c)Certificate of Title. Seller has obtained a Certificate of Title (or the functional equivalent thereof for jurisdictions that do not deliver a Certificate of Title to secured lenders) for the Financed Vehicle.

(d)No Brand on Certificate of Title. The Certificate of Title for the Financed Vehicle does not bear any brand, notation, or word(s) indicating prior vehicle history, damage, or chronic problem, including without limitation words such as "damaged", "totaled", "salvaged", "rebuilt", "warranty returned", "reconditioned", "junked", or any brand, notation, or word(s) of similar meaning or import.

(e)Marking Records. On or before the Closing Date, the Seller will have caused the portions of its electronic ledger relating to Conveyed Property to be clearly and unambiguously marked to indicate that such Contracts have been sold to Buyer.

(f)Receivables File. With respect to such Receivable, the related Receivables File contains, in all material respects, the documents required to be contained therein pursuant to this Agreement.

(g)No Waivers or Extension. With respect to such Receivable, the terms of the related Contract have not been waived, altered, or modified in any material respect, except by instruments or documents identified in the Receivables File or in the Servicing File.

(h)Contract in Force. With respect to such Receivable, the related Contract has not been satisfied or subordinated in whole or in part or rescinded, and the Financed Vehicle securing the Contract has not been released from the lien of the Contract in whole or in part.

(i)Selection Procedures. No selection procedures believed to be adverse to Buyer have been utilized in selecting the Receivables sold hereunder from among those Receivables that meet the criteria contained herein. Seller has not engaged in any activity or committed any action intended, or the natural consequence of which is, to give any Receivable the appearance of compliance with this Agreement and these representations and warranties which such Receivable, absent such activity or action by Seller, would otherwise not comply with this Agreement or these representations or warranties.

9
 
 

 

 

(j)Compliance with Law. The Contract and the sale of the related motor vehicle complied at the time it was originated and upon the execution of this Agreement, and complies at the time of its sale to Buyer hereunder, in all material respects with all applicable federal, state, and local laws, regulations, and ordinances, including but not limited to the Fair Credit Reporting Act, the Equal Credit Opportunity Act and Regulation B, the Truth-in-Lending Act and Regulation Z, and FTC rules and regulations.

(k)Binding Obligation. Such Receivable represents the genuine, legal, valid, and binding payment obligation of the Obligor, enforceable by the holder thereof in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors' rights in general and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).

(1)No Defenses. No right of rescission, setoff, counterclaim or any other defense (including defenses arising out of violations of usury laws) has been asserted or threatened with respect to such Receivable.

(m)No Default. Except for payment delinquencies continuing for a period of not more than sixty (60) days, no default, breach, violation, or event permitting acceleration under the terms of such Receivable has occurred; and no continuing condition that with notice or the lapse of time would constitute a default, breach, violation, or event permitting acceleration under the terms of such Receivable has arisen. Such Receivable is not a write-off.

(n)Down Payment. The Obligor on such Receivable has fully paid the down payment, with his/her own funds, as set forth in the related Contract.

(o)Collections. Seller does not know of any fact that indicates the uncollectability by Buyer of any Contract, and no condition exists that materially or adversely affects the value of the Receivable or jeopardizes any security therefor.

(p)No Repossession. The Financed Vehicle securing the Receivable shall have not been foreclosed upon or repossessed by Seller or any other party.

(q)The information contained in the Receivables Schedule, as set forth in Section 10.2(a) and Exhibit B, including without limitation the identification of Current Performing Contracts, Delinquent Performing Contracts, Non-Performing Contracts, and Performing Contracts, is true and correct as of the Cut-Off Date.

(r)The information and data contained in the Electronic Data File, as set forth in Section 10.2(b) and Exhibit C, is true and correct as of the Cut-Off Date.

(s)The Receivable represents a consumer obligation of an Obligor, purchased for personal, family, or household use, and not a commercial obligation of an Obligor.

(t)The Obligor of the Receivable had obtained or agreed to obtain full-coverage physical damage and general liability insurance covering the Financed Vehicle.

10
 
 

 

 

Section 5.3.Covenants of the Seller.

(a)Affirmative Covenants. From the Closing Date until the first day following the date on which all Receivables purchased hereunder are indefeasibly paid in full to Buyer, Seller agrees and covenants that it shall:

(i)Maintain all necessary licenses, permits and other approvals, in all jurisdictions where the failure to do so would have a Material Adverse Effect.

(ii)Keep and maintain all of its properties necessary or useful in its business in good condition, repair and working order (normal wear and tear excepted).

(iii)Take all actions necessary to preserve and keep in full force and effect its existence, maintain the continuous operation of its business and comply with each requirement of law in all material respects.

(iv)Use commercially reasonable efforts to maintain systems, personnel and facilities, including back-up and disaster recovery capability, that will enable it to perform its obligations under this Agreement.

(v)File or cause to be filed all federal, state and local tax returns that are required to be filed by it and pay or cause to be paid all taxes shown to be due and payable on taxes or assessments (except only such taxes or assessments the validity of which are being contested in good faith by appropriate proceedings).

(b)Negative Covenants. From the Closing Date until the first day following the date on which all Receivables purchased hereunder have been indefeasibly paid in full to Buyer, Seller agrees that is shall not do any of the following:

(i)Assert any claims or set-off rights against any Scheduled Payments.

(ii)In the fulfillment of Seller's obligations under this Agreement, engage in, or allow or permit any person under its direct control or direction to engage in, any fraudulent activity or other activity which would constitute a violation of a requirement of law in any material respect.

(iii)Solicit, encourage, or otherwise suggest an Obligor in any manner breach any term of the Contract related to a Receivable.

(iv)Sell, lease, or otherwise transfer or deliver to an Obligor any motor vehicle, without regard to the means or method of such transfer or delivery, or purchase or originate any receivable related to the purchase of any motor vehicle by such Obligor; provided, that with respect to a particular Obligor, such covenant shall expire and be of no further force or effect upon the indefeasible payment in full to Buyer of all amounts due and owing from such Obligor.

(v)Except for fees imposed on Obligors with respect to payment, late payment or nonpayment as permitted in the related Contract, accept or receive or agree to accept or receive any rebate, refund, commission, fee, kickback or rakeoff, whether cash or otherwise and whether paid by or originating with an Obligor or any other party (including, but not limited to, brokers and agents), as a result of or in any way related to any Receivable or in connection with the sale, disposition, transfer or servicing of any Receivable.

11
 
 

 

 

Section 5.4.Remedy for Breach of Representation, Warranty, or Covenant; Repurchase.

(a)The representations, warranties, covenants, and promises of Seller set forth herein shall survive the sale of Receivables to Buyer and shall inure to the benefit of Buyer and its successors and assigns, notwithstanding any restrictive or qualified endorsement on any Contract.

(i)In the event of a breach by Seller of any material representation, warranty, covenant, or promise in this Agreement with respect to any Receivable, the party discovering such breach will provide written notice to the other party. Within ten (10) calendar days of notice to Seller of any such breach, Seller shall repurchase such Receivable and the Related Security by paying Buyer the Repurchase Price in good funds.

(ii)In the event Seller is required to repurchase a Receivable, Buyer shall deliver to Seller the related Contract File and shall assign to Seller all of Buyer's right, title, and interest in and to the related Conveyed Property, free and clear of any and all claims, liens, and encumbrances, except for those which existed at the time of Buyer's purchase thereof from Seller. Buyer shall accomplish such delivery and assignment within a reasonable period of time following Buyer's receipt in full of the Repurchase Price from Seller.

(b)The "Repurchase Price" of a Receivable shall be the percentage of par as stated in the Receivables Schedule, multiplied by the Unpaid Principal Balance as of the date the Repurchase Price is paid to Buyer with respect to such Receivable, plus any accrued unpaid interest, plus any accrued unpaid fees.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES OF BUYER

Section 6.1.Buyer Representations and Warranties. Buyer hereby represents and warrants to Seller, as of the Closing Date, as follows:

(a)Organization and Good Standing. Buyer is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and has the corporate power to own its assets and to transact the business in which it is currently engaged. Buyer is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would have a Material Adverse Effect on the Buyer's ability to perform its obligations hereunder.

(b)Authorization: Binding Obligations. Buyer has the power and authority to make, execute, deliver, and perform this Agreement and all of its transactions contemplated under this Agreement and has taken all necessary corporate action to authorize the execution, delivery, and performance of this Agreement. When executed and delivered, this Agreement will constitute the legal, valid and binding obligation of Buyer enforceable in accordance with its terms, except as enforcement of such terms may be limited by bankruptcy, insolvency, or similar laws affecting the enforcement of creditors' rights generally and by the availability of equitable remedies.

(c)No Consent Required. Buyer is not required to obtain the consent of any other party or any consent, license, approval or authorization from, or registration or declaration with, any governmental authority, bureau, or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement.

12
 
 

 

 

(d)No Violations. The execution, delivery, and performance of this Agreement by Buyer will not violate any provision of any existing law or regulation or any order or decree of any court or the Certificate of Incorporation or Bylaws of Buyer, or constitute a material breach of any mortgage, indenture, contract, or other agreement to which Buyer is a party or by which Buyer may be bound.

(e)Litigation. No litigation or administrative proceeding of or before any court, tribunal, or governmental body is currently pending, or to the knowledge of Buyer threatened, against Buyer or any of its properties or with respect to this Agreement which, if adversely determined, would in the opinion of Buyer have a Material Adverse Effect on the transactions contemplated by this Agreement.

(f)Approvals, Licensing, Etc. All actions, approvals, consents, waivers, exemptions, variances, franchises, orders, permits, authorizations, rights, and licenses required to be taken, given or obtained, as the case may be, by or from any federal, state or other governmental authority or agency, that are necessary or advisable in connection with the execution and delivery by Buyer of this Agreement and other documents have been duly taken, given, or obtained, as the case may be, are in full force and effect to be entered into in connection herewith, are not subject to any pending proceedings or appeals (administrative, judicial, or otherwise) and either the time within which any appeal therefrom may be taken or review thereof may be obtained has expired or no review thereof may be obtained or appeal therefrom taken, and are adequate to authorize the consummation of the transactions contemplated by this Agreement and other documents to be entered into in connection herewith on the part of Buyer and the performance by Buyer of its obligations hereunder and thereunder.

ARTICLE VII 
SERVICING

Section 7.1.Transfer and Assignment. Effective as of the Servicing Transfer Date, (a) Seller shall transfer, delegate, and assign all of its rights, duties and obligations regarding the servicing of the Conveyed Property, including all rights to receive payment, to Buyer and (b) Buyer shall assume all of the Seller's such duties and obligations and accept all of Seller's such rights. After the execution of this Agreement and prior to the Servicing Transfer Date, Seller or the Current Servicer shall service the Contracts that will be, after the Closing, Conveyed Property in accordance with its current customary practices. Seller shall forward all payments received with respect to Conveyed Property after the Cutoff Date to the Buyer, within one business day after Buyer's receipt of such payment, via overnight delivery or wire with faxed listing of account(s) for credit.

ARTICLE VIII

FURTHER ASSURANCES

Section 8.1.Further Assurances.

(a)In order to protect and secure Buyer's rights hereunder, Seller, upon the request of and at the expense of the Buyer or its assigns, shall perform or cause to be done and performed, every reasonable act necessary or advisable to put Buyer in position to enforce the payment of the Contracts and to carry out the intent of this Agreement, including the execution of documents such as applications for certificates of title and Uniform Commercial Code financing statements assigning Seller's security interests in the motor vehicles securing the Contracts, and the execution of, and if necessary, the recordation of, additional documents, including separate endorsements and assignments, upon request of Buyer.

(b)In order to protect and secure Buyer's rights hereunder, Seller, within one (1) business day of its receipt of any correspondence, notification, notice, or similar document related to or concerning any Contract purchased by the Buyer hereunder, shall forward same to Buyer.

13
 
 

 

 

Section 8.2.Returned Payments.

(a)Buyer agrees to pay to Seller, within two (2) business days after notice from Seller, amounts equal to any Obligor checks or other payments originally tendered to Seller by Obligor(s) and returned unpaid for insufficient funds or other reasons after the Cut-Off Date, and Seller shall provide to Buyer copies of documents evidencing the returned checks or payments.

(b)In the event Seller repurchases a Receivable pursuant to Section 3.2 or 5.4, Seller agrees to pay to Buyer, within two (2) business days after notice from Buyer, amounts equal to any Obligor checks or other payments tendered to Buyer with respect to such contract prior to such repurchase and returned unpaid for insufficient funds or other reasons, and Buyer shall provide to Seller copies of documents evidencing the returned checks or payments.

ARTICLE IX

BROKERAGE AND OTHER THIRD-PARTY FEES

Section 9.1.Brokers. Buyer and Seller each represent and warrant to the other that it has not dealt with any Person entitled to a brokerage fee or commission in connection with this Agreement.

ARTICLE X

DELIVERABLES; CLOSING

Section 10.1. Closing Location. The Closing hereunder will take place by fax or email transmission with originals forwarded by overnight courier for next business day delivery.

Section 10.2. Seller Deliverables.

(a)Receivables Schedule. Seller shall deliver to Buyer the Receivables Schedule setting forth the Receivables to be sold to Buyer by 12:00 noon (eastern standard time) one (1) Business Day prior to the Closing Date (unless otherwise agreed to by the parties). The Receivables Schedule shall be substantially in the form attached hereto as Exhibit B, shall be signed by an Authorized Officer of Seller, and shall contain such information as set forth therein and below. SELLER, BY ACCEPTING THE PURCHASE PRICE PAID WITH RESPECT TO THE CONVEYED PROPERTY, SHALL BE DEEMED TO HAVE CERTIFIED, REPRESENTED AND WARRANTED TO BUYER, WITH RESPECT TO THE RECEIVABLES AND RELATED SECURITY TO BE SOLD BY IT ON SUCH PURCHASE DATE, THAT ALL INFORMATION AND DATA CONTAINED IN THE RECEIVABLES SCHEDULE IS CURRENT, TRUE AND CORRECT IN ALL MATERIAL RESPECTS ON AND AS OF THE CUT-OFF DATE, WITH THE SAME EFFECT AS THOUGH MADE ON AND AS OF SUCH DAY.

(i)account number for each Contract;

(ii)name of each Obligor party to a Contract;

(iii)year, make, model, and vehicle identification number of each motor vehicle which is security for a Contract;

(iv)Unpaid Principal Balance on each Contract as of the Cut-Off Date;

(v)Purchase Price on each Contract calculated as of the Cut-Off Date;

14
 
 

 

 

(b)Contents of Electronic Data File. Seller shall deliver to Buyer the Electronic Data File, or information and data sufficient for the creation of same, including all information and data set forth in Exhibit C, with respect to the Receivables sold to Buyer by 12:00 noon (eastern standard time) two (2) Business Days prior to the Closing Date (unless otherwise agreed to by the parties). Seller understands and agrees that Buyer intends to and shall rely upon Seller's provision of such information and data, whether created by Seller or not, in loading or boarding the Conveyed Property onto Buyer's account servicing system(s). SELLER, BY ACCEPTING THE PURCHASE PRICE PAID WITH RESPECT TO THE CONVEYED PROPERTY, SHALL BE DEEMED TO HAVE CERTIFIED, REPRESENTED AND WARRANTED TO BUYER, WITH RESPECT TO THE RECEIVABLES AND RELATED SECURITY TO BE SOLD BY IT ON SUCH PURCHASE DATE, THAT ALL INFORMATION AND DATA CONTAINED IN THE ELECTRONIC DATA FILE IS CURRENT, TRUE AND CORRECT IN ALL MATERIAL RESPECTS ON AND AS OF THE CUT-OFF DATE, WITH THE SAME EFFECT AS THOUGH MADE ON AND AS OF SUCH DAY.

(c)Bill of Sale. Seller, in conjunction with the payment of the Purchase Price, shall execute and deliver to Buyer a Bill of Sale with respect to the related Conveyed Property substantially in the form attached hereto as Exhibit A.

(d)Receivables File. Seller, in conjunction with the payment of the Purchase Price, shall forward, by overnight courier for next business-day delivery, or in person, to Buyer the following with respect to each Receivable:

(i)The original Contract. If the original contract is unavailable, Seller must provide the electronic version stamped on each page of the contract "True and Correct Copy of the Original" and signed by an officer verifying such with a notary.

(ii)Obligor credit files including the original application, credit investigation and such other credit information contained therein, or copies of same if the original of such document is not available.

(iii)The title file, which shall include the Certificate of Title (to the extent the state of origin has such Certificate of Title or notice of recorded lien on Seller's name) for the Financed Vehicle.

(iv)The Servicing File, including Obligor payment and collection records.

(v)Obligor insurance files, including without limitation property insurance insuring the Financed Vehicle, gap insurance, warranties, and such other insurance information contained therein, or copies of same if the original of such document is not available.

(vi)The Bill of Sale with respect to the Financed Vehicle.

(vii)Any other documents related to the Financed Vehicle or the Obligor that Buyer may reasonably require.

(viii)REMEDY FOR FAILURE TO DELIVER RECEIVABLES FILE. In the event Seller fails to deliver, with respect to any particular Receivable, the Receivables File to the reasonable satisfaction of Buyer and in accordance with Section 10.2(d), Buyer may at its sole option require Seller to immediately repurchase such Receivable. If Buyer requires Seller to immediately repurchase such Receivable, Seller shall repurchase such Receivable and the Related Security by paying to Buyer the Repurchase Price in good funds within five (5) Business Days

15
 
 

 

 

following Buyer's notice hereunder. In the event Seller is required to repurchase the Contract hereunder, Buyer shall deliver to Seller, upon payment by the Seller of the Repurchase Price, the related Contract File and shall assign to Seller all of Buyer's right, title, and interest in and to the related Conveyed Property, free and clear of any and all claims, liens, and encumbrances, except for those which existed at the time of Buyer's purchase thereof from Seller.

Section 10.3. Payment of Purchase Price. Subject to Seller's complying on the Closing Date in all material respects with the terms and conditions of this Agreement, Buyer shall pay seventy five percent (75%) of the Purchase Price to Seller on the Closing Date, by wire transfer, in immediately available funds, to such account(s) as directed by Seller. Buyer shall place the remaining twenty five percent (25%) in escrow to be held for thirty (30) days which shall be further reduced by the amount due under the repurchase provisions in section 3.2, as applicable.

ARTICLE XI 
NOTICES

Section 11.1. Notices. Any notice, demand or communication which either party desires or is required to give to the other party in connection with the Agreement must be in writing and must be either served personally or sent by fax and a reliable tracking method, addressed to the other party, as follows, or to such other fax number and/or address as either party hereafter specifies in accordance with this Article XI:

IF TO BUYER:

Nicholas Financial, Inc.

2454 McMullen Booth Road, Building C, Clearwater, FL 33759

Fax (727) 914-2411 
Attn: Doug Marohn

Title: President and CEO

IF TO SELLER:

Platinum Auto Finance of Tampa Bay, LLC 
25 N. Main Avenue Clearwater, FL 33765 
Attn: Legal Department

Fax (727) 216-6262

ARTICLE XII

MISCELLANEOUS

Section 12.1. Termination. Either party may terminate this Agreement prior to the delivery by Seller to Buyer of the Receivables Schedule.

Section 12.2. Mandatory Delivery. The sale and delivery of each Contract on the Closing Date is mandatory from and after the date of the delivery of the Receivables Schedule, it being specifically understood and agreed that each Contract is unique and identifiable on the date thereof and that an award of money damages would be insufficient to compensate Buyer for the losses and damages incurred by Buyer (including damages to prospective purchasers of the Contracts) in the event of Seller's failure to deliver each of the related Contracts on the Closing Date. Seller hereby agrees that it holds such Contracts in custody for Buyer subject to Buyer's (a) right to reject any Contract under the terms of this Agreement, and (b) obligation to pay the related Purchase Price. All rights and remedies of Buyer under this Agreement are distinct from, and cumulative with, any other rights or remedies under this Agreement or afforded by

16
 
 

 

 

law or equity and all such rights and remedies may be exercised concurrently, independently or successively.

Section 12.3. Entire Agreement. This Agreement together with all exhibits and schedules hereto constitutes the entire agreement between the parties hereto and supersedes any and all representations, promises and statements, oral and written, made in connection with the subject matter of this Agreement and the negotiation hereof, and no such representation, promise or statement not written herein will be binding on the parties. This Agreement may not be varied or altered or its provisions waived except by an agreement in writing executed by duly authorized agents of both parties hereto. This Agreement will be binding upon and inure to the benefit of the parties hereto and each of their respective successors and assigns.

Section 12.4. Governing Law; Jurisdiction and Venue.

(a)This Agreement will be interpreted, construed, and enforced in accordance with the laws of the State of Florida without reference to that state's laws or rules pertaining to conflict of laws.

(b)EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY AND UNCONDITIONALLY: (i) SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR THE MIDDLE DISTRICT OF FLORIDA, AND APPELLATE COURTS FROM ANY THEREOF, OR THE COURTS OF THE STATE OF FLORIDA, WITHIN THE COUNTY OF PINELLAS, IN THE EVENT THE FEDERAL COURT LACKS OR DECLINES JURISDICTION; (ii) CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME; (iii) AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH IN ARTICLE XI OR AT SUCH OTHER ADDRESS OF WHICH THE OTHER PARTY SHALL HAVE BEEN NOTIFIED; AND (iv) AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION.

Section 12.5. Severability. Any provision of this Agreement, which is prohibited or unenforceable in any jurisdiction, will, as to such jurisdiction, be ineffective to the extent of each prohibition or unenforceability without invalidating the remaining provision hereof, and any such prohibition or unenforceability in any jurisdiction will not invalidate or render unenforceable such provisions in any other jurisdiction.

Section 12.6. Captions. Captions are for convenience of reference only and are not to be considered as defming or limiting in any way the scope of intent of the provision hereof.

Section 12.7. Waivers; Cumulative Remedies. The waiver of any breach, term, provision or condition of this Agreement may not be construed to be a subsequent waiver of any other breach, term, provisions or condition. All remedies afforded by this Agreement for a breach hereof will be cumulative, that are, in addition to all other remedies provided for herein or at law or in equity.

17
 
 

 

 

Section 12.8. Construction. Unless otherwise specifically provided, references in this Agreement to Sections and Exhibits are to Sections and Exhibits of or to this Agreement. All Exhibits hereto are incorporated herein by the references thereto in this Agreement. The designations of the parties to this Agreement and any pronouns referring to any party, wherever used, must be so construed as to include the plural as well as the singular number, and whenever the context permits, any gender includes all other genders and the singular number includes the plural. As used in this Agreement, the words "includes" and "including" are not limiting, and the words "hereof' and "hereunder" and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement.

Section 12.9. Counterparts. This Agreement may be executed in two or more counterparts and by different parties on separate counterparts of duplicate originals, each of which must be deemed an original, but all of which together will constitute but one and the same instrument.

Section 12.10. Assignment. Neither Seller nor Buyer may assign any of its rights or obligations hereunder without the prior written consent of the other party.

Section 12.11. Dispute Resolution.

(a)In the event of any claim, suit, or controversy (collectively, a "claim") involving any matter governed by or related to this Agreement, the parties shall first use their diligent and good faith efforts to resolve the dispute by exchanging relevant information and negotiating in good faith, including not less than one conference call.

(b)Attorneys' Fees; Costs of Collection. In the event of any claim involving or arising from Seller's breach of any material representation, warranty, term, or condition of this Agreement, or from Seller's failure to perform any obligation to Buyer arising hereunder or otherwise, Seller agrees to pay reasonable losses or expenses incurred by Buyer as a result of such breach or failure to perform, including attorneys' fees, and any expenses paid or incurred by Buyer in connection with the collection of any amount due from Seller to Buyer hereunder.

Section 12.12. Confidentiality. Each of Buyer and Seller will keep confidential and will not divulge to any party, without the other party's prior written consent, the terms of this Agreement; provided, that any party may make such disclosure to its affiliates, attorneys, agents and accountants, the rating agencies, investors and potential investors and in any report or as otherwise required by law or by its regulators.

Section 12.13. No Partnership or Joint Venture; No Origination. Nothing contained in this Agreement shall be deemed or construed by the parties hereto or by any third party to create the relationship of principal and agent, partnership, or joint venture. Notwithstanding anything herein to the contrary, in no event shall the parties hereto, or any third party deem or construe Buyer as the originator of the Conveyed Property.

Section 12.14. Indemnification. Seller shall indemnify and hold Buyer, its parents, affiliates, subsidiaries, shareholders, officers, directors, employees, attorneys and agents (each, a "Buyer Indemnified Party") harmless from and against any and all Claims, actions, and proceedings asserted or brought by a third party, and from and against any and all costs, expenses, damages, and liabilities incurred or suffered by any Buyer Indemnified Party (including without limitation attorneys' fees, consultant fees, in-house counsel fees, costs or expenses) resulting from, attributable to, or arising out of (1) the breach or inaccuracy of any representation or warranty of Seller in this Agreement, (2) Seller's breach of any covenant, obligation, promise, agreement or term in this Agreement, or (3) Seller's breach of any requirement of law in the performance of its obligations under this Agreement, including without limitation in the origination and/or servicing of any Receivable; provided, however, that in no event shall

18
 
 

 

 

Seller be obligated for any claims, expenses, losses, or damages resulting from the willful misconduct of Buyer or its employees.

Section 12.15. Inspection. From the Closing Date until the first day following the date on which all Receivables purchased hereunder are indefeasibly paid in full to Buyer, Seller shall permit, on not less than two (2) days prior written notice, any person who is reasonably designated by Buyer to visit and inspect Seller's records relating to Receivables and will cause its personnel to assist in any examination of such records by the Buyer or its authorized agents. The examination referred to in this Section 12.15 will be conducted in a manner which does not unreasonably interfere with the Seller's normal operations or customer or employee relations.

Section 12.16. Timely Payment of Amounts Due. Any payment or money due from Seller to Buyer hereunder which is not paid within the time specified, or if no time is specified, within ten (10) days after demand for payment is made, shall accrued interest at the rate of one and one-half percent (11/2%) per month or the highest rate allowed by applicable law, whichever is higher.

[SIGNATURES FOLLOW]

19
 
 

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

NICHOLAS FINANCIAL, INC. as Buyer

By:  /s/ Doug Marohn

Name:Doug Marohn

Title:       President and CEO

PLATINUM AUTO FINANCE OF TAMPA BAY, LLC as Seller

By:  /s/ Michael Kaplanis

Name:Michael Kaplanis

Title:       CEO

 

 

 

EXHIBIT A 
BILL OF SALE

Platinum Auto Finance of Tampa Bay, LLC, a Florida limited liability company, ("Seller"), pursuant to the Bulk Receivables Purchase and Sale Agreement dated as of even date hereof (the "Agreement"), by and between Seller and Nicholas Financial, Inc.„ a Florida Corporation ("Buyer"), for good and valuable consideration paid by Buyer, the receipt and sufficiency of which are hereby acknowledged, does hereby sell, assign, transfer, set over and convey, subject to the terms of the Agreement, the Conveyed Property, unto Buyer, its successors and assigns, for its and their own use forever.

Capitalized terms used and not defined herein shall have the meanings ascribed to such terms in the Agreement.

This Bill of Sale and the covenants and agreements contained herein shall be binding upon Seller, its successors and assigns, and shall inure to the benefit of Buyer, its successors and assigns.

THIS BILL OF SALE IS MADE WITHOUT ANY WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, EXCEPT AS EXPRESSLY SET FORTH IN THE AGREEMENT.

IN WITNESS WHEREOF, Seller has caused this Bill of Sale to be executed in its name by a duly authorized representative this 11 day of December, 2019.

Platinum Auto Finance of Tampa Bay, LLC as Seller

By:  /s/ Michael Kaplanis

Name:Michael Kaplanis

Title:          CEO

A-1

 

 

 

EXHIBIT B

RECEIVABLES SCHEDULE

Schedule 1: [ ] ([ ]) Page[s] Attached Hereto With List of Contracts

Cut-Off Date:December 9, 2019

Buyer:Nicholas Financial, Inc.

Seller:Platinum Auto Finance of Tampa Bay, LLC

Closing Date:December 11, 2019

Purchase Price Percentage of Par:0.95% Percent

	
Recourse Period:
	
For Contracts with monthly Scheduled Payments: 2 payments For Contracts with semi-monthly Scheduled Payments: 4 payments
	
 

TOTAL PURCHASE PRICE FOR ALL CONTRACTS ON THIS SCHEDULE: $1,047,295.34

THIS SCHEDULE OF CONTRACTS IS ISSUED PURSUANT TO AND IS SUBJECT TO ALL THE TERMS AND CONDITIONS OF THE RECEIVABLES PURCHASE AND SALE AGREEMENT DATED December 11, 2019, BETWEEN BUYER AND SELLER.

SELLER HEREBY CERTIFIES, REPRESENTS AND WARRANTS TO BUYER THAT THE INFORMATION ATTACHED HERETO AS SCHEDULE 1 IS, TO THE BEST OF SELLER'S KNOWLEDGE, CURRENT, TRUE AND CORRECT IN ALL MATERIAL RESPECTS ON AND AS OF THE CUT-OFF DATE. 

Platinum Auto Finance of Tampa Bay, LLC as Seller

By:  /s/ Michael Kaplanis

Name:Michael Kaplanis

Title:          CEO

B-1

 

 

 

Schedule 1 to Exhibit B
 
 

 

 

EXHIBIT C 

CONTENTS OF ELECTRONIC DATA FILE

[Values marked with asterisk * are required]

DESCRIPTION

 

*ACCOUNT NUMBER IN SELLER SERVICING SYSTEM

*OBLIGOR FIRST NAME

*OBLIGOR LAST NAME

*OBLIGOR CURRENT STREET ADDRESS

OBLIGOR EMAIL ADDRESS

*OBLIGOR SOCIAL SECURITY NUMBER

OBLIGOR DATE OF BIRTH IN MM/DD/YYYY FORMAT

*OBLIGOR CURRENT HOME PHONE NUMBER

OBLIGOR CURRENT MOBILE PHONE NUMBER

OBLIGOR CURRENT WORK PHONE NUMBER

OBLIGOR DRIVER'S LICENSE NUMBER

OBLIGOR CURRENT EMPLOYER

*OBLIGOR CURRENT GROSS MONTHLY INCOME

OBLIGOR CURRENT EMPLOYMENT IN YEARS AND MONTHS

OBLIGOR CURRENT RESIDENCE STATUS: OWN, RENT, OTHER

OBLIGOR CURRENT RESIDENCE IN YEARS AND MONTHS

OBLIGOR CURRENT CREDIT SCORE

*CONTRACT INTEREST ACCRUAL METHOD: DAILY SIMPLE INTEREST (SIMPLE) OR PRE COMPUTED (PRECOMP) A.K.A. RULE OF 78'S

*CONTRACT DATE OR ORIGINATION DATE

*AMOUNT FINANCED

*ANNUAL PERCENTAGE RATE (APR)

*FINANCE CHARGE

*NUMBER OF PAYMENTS OR CONTRACT TERM

*REGULAR PAYMENT AMOUNT

INDICATES IF REGULAR PAYMENTS ARE SCHEDULED ONCE A MONTH (MONTHLY)

DATE OF LAST REGULAR MONTHLY PAYMENT OR MATURITY DATE

*DATE OF FIRST REGULAR MONTHLY PAYMENT

*DATE OF THE NEXT REGULAR SCHEDULED PAYMENT

*ACCOUNT PAYOFF AS OF THE INTEREST ACCRUED THROUGH DATE (CUT-OFF DATE)

*PRINCIPAL BALANCE AS OF THE INTEREST ACCRUED THROUGH DATE (CUT-OFF DATE)

 
 
 

 

 

*INTEREST BALANCE AS OF THE PORTFOLIO SALE DATE: THE AMOUNT OF INTEREST THAT HAS ACCRUED FROM THE LAST PAYMENT TO THE INTEREST ACCRUED THROUGH DATE (CUT-OFF DATE)

LATE CHARGES OWED AS OF THE INTEREST ACCRUED THROUGH DATE (CUT-OFF DATE)

*AMOUNT OF LAST PAYMENT

*DATE OF LAST PAYMENT

TOTAL NUMBER OF REGULAR PAYMENTS MADE

*AMOUNT PAID FOR GAP INSURANCE

*AMOUNT PAID FOR VEHICLE WARRANTY

*DOWN PAYMENT

*THE BALANCE OF THE PURCHASE DISCOUNT AS OF THE INTEREST ACCRUED THROUGH DATE (CUTOFF DATE)

*ACCOUNT BALANCE PURCHASED BY BUYER

*PRICE PAID FOR RECEIVABLE (AFTER DISCOUNT)

*VEHICLE IDENTIFICATION NUMBER (VIN)

*VEHICLE MODEL YEAR

*VEHICLE MAKE

*VEHICLE MODEL

*CASH PRICE OF VEHICLE

VEHICLE COLOR

VEHICLE MILEAGE

*VEHICLE VALUE

VALUATION DATE

*TITLE NUMBER

TRACKING DEVICE NUMBER, IF THE VEHICLE IS EQUIPPED WITH A GPS TRACKING DEVICE.

*CO-OBLIGOR FIRST NAME

*CO-OBLIGOR LAST NAME

*CO-OBLIGOR CURRENT STREET ADDRESS

CO-OBLIGOR EMAIL ADDRESS

*CO-OBLIGOR SOCIAL SECURITY NUMBER

CO-OBLIGOR DATE OF BIRTH

CO-OBLIGOR CURRENT HOME PHONE NUMBER

CO-OBLIGOR CURRENT MOBILE PHONE NUMBER

CO-OBLIGOR CURRENT WORK PHONE NUMBER

CO-OBLIGOR DRIVER'S LICENSE NUMBER

CO-OBLIGOR CURRENT EMPLOYER

*DATE PAYMENT DUE

*DATE PAYMENT MADE

*HOW PAYMENT MADE

*AMOUNT OF PAYMENT. NEGATIVE AMOUNTS SHOULD BE EXCLUDED.

*DEALER LEGAL NAME

 
 
 

 

 

PRIMARY CONTACT FIRST NAME

PRIMARY CONTACT LAST NAME

PRIMARY CONTACT TITLE

DEALER CURRENT STREET ADDRESS

PRIMARY CONTACT EMAIL ADDRESS

PRIMARY CONTACT PHONE NUMBER

REFERENCE RELATIONSHIP TO OBLIGOR

REFERENCE FIRST NAME

REFERENCE LAST NAME

REFERENCE CURRENT STREET ADDRESS

REFERENCE CURRENT CITY

REFERENCE CURRENT STATE

REFERENCE CURRENT ZIP CODE

REFERENCE EMAIL ADDRESS

REFERENCE HOME PHONE

REFERENCE MOBILE PHONE

REFERENCE WORK PHONE

*COLLECTION NOTES WITH DATES

 
 
 

 

 

 

EXHIBIT D 

FORM OF NOTICE OF TRANSFER

TO BE SENT TO OBLIGOR

<Date>

CUSTOMER NAME

ADDRESS

CITY STATE ZIP

<ACCOUNT NUMBER>

Dear CUSTOMER

Please be advised that on December 11, 2019 your account with Platinum Auto Finance was sold and assigned to Nicholas Financial, Inc.. Please be assured that this is a normal transaction and in no way affects your payments, payment due dates, the terms of your contract or liability. Any payments received from you after December 9, 2019 will be endorsed and forwarded to Nicholas Financial, Inc.

All future payments and correspondence should be made payable to Nicholas Financial, Inc., and mailed to the following address:

BUYER PAYMENT ADDRESS

You may pay online at www.nicholasfinancial.com 

You may also pay via the phone by calling 800-237-2721.

If you should have any questions concerning this transfer, please contact Nicholas Financial, Inc., at 2454 McMullen Booth Road, Building C, Clearwater, FL 33759.

Sincerely,

Platinum Auto Finance

AUTO FINANCE

 

 

 

EXHIBIT E

RATIFICATION

On December 11, 2019, Platinum Auto Finance of Tampa Bay, LLC, a Florida limited liability company having an address at 25 N. Main Avenue Clearwater, FL 33765 ("SELLER"), assigned and sold all interest in the attached list of vehicles (Schedule 1) to Nicholas Financial, Inc., a Florida Corporation, having an address at 2454 McMullen Booth Road, Building C, Clearwater, FL 33759 ("BUYER") for consideration. This document ratifies that agreement.

PLATINUM AUTO FINANCE OF TAMPA BAY, LLC as Seller

By:  /s/ Michael Kaplanis

Name:Michael Kaplanis

Title:         CEO

NICHOLAS FINANCIAL, INC. as Buyer

By:  /s/ Doug Marohn

Name:Doug Marohn

Title:President and CEO

 

 

 

Schedule 1 to Exhibit E- VIN List of Vehicles

VIN KM8JM12B58U735635 KMHDH4AE6DU787722 1J4GL48K06W190174 1N6BAOED3AN3 12493 1C4RDHDG8CC129849 WDDGF5HB8DA817352 2A8HR54P58R151830 1J4NF2GB4AD502277 5XXGM4A74DG252392 WDDGF54X18F044444 1HGCS22829A009569 3GSCL33P19S520555 1J4FA24108L603170 5NPE24AF7G H365928 JA32U1FU4AU008432 19U UA9F56AA001169 1FTRW12WX7FB88322 19UUA66218A008853 5TEUX42N58Z474292 KMHHN65F66U212354 1ZVFT80N955157349 3VWDX7AJ3CM325589 1YVHP81A695M06671 5FNRL38895B118681 WBAVA33508K053046 1GNDS13S162219150 2HGFA16569H519094 1GNEC13Z93R305730 JH4CU26659C030596 1FMZU74K54UA70989 1FTYR15E43PB63068 5GAER23768J130159 19UUA66286A039790 JTKDE177870167155 4T3ZE11A99U015630 1FAHP3GN9BW129037 2C3KA33V79H632280 1GCEC14X48Z226169
 
 

 

 

2C3LA43R58H115510 1G8ZV57B29F185945 5NMSG3AB9AH385369 KNDJF724377356262 3C4PDCABXDT556751 1G1PC5SH6C7294515 1C4NJCBA2ED725822 1HGCP26898A144378 1GCHC33697F526419 KN DJT2A21B7271991 2GTEK13M181212748 2GTEC13Z661286446 JNRASO8U26X104513 1FMYU94146KB18107 2G1WB58K381369094 1FTPW14546KB62185 WBAVA37558NL57093 JN8DRO9Y64W908802 2CN DL33F586037649 2FMDK38C27BB44830 5GTDN 136268278748 1N6ED26TX4C414394 1D7HU18N15S359730 5TDZK23C67S093875 4T1BE32KX6U138989 2T2HA31U36C105967 1FA6P0H77G5107301 1N4AL21E09N503275 4T1BK36B46U092420 JTEGD21A840091798 4USBT33525LS55192 JTJHA31U150088323 2G1FD1E32F9209593 1C3CDZAB9DN730329 5XYKT3A6XEG487293 1G1PE5SB2D7140889 1G1RA6E47DU128617 1N4AL3AP5EC318667 1G4GA5ED4BF183497 5N1AR1NNXAC603635 1HGCP36868A059925 2C4RDGBG4DR507316 5GADT13S262305493 1G1ZD5EU7CF285102 2CKDL73F576049643
 
 

 

 

3D4GG67V99T523549 1GNKVLED6BJ 196540 1FMEU73E47UB26144 2FMDK38C58BA25106 3GSCL33P59S553963 2FM DK38C89BA54861 1FADP3F27DL239806 2G1WC5E34D1172648 1D7HU18227J546330 1GMDV33L06D229611 1LNHM94R29G606906 1C3CDZABXDN 616923 1ZVBP8EN0A5140963 5NPEB4AC1EH920763 1FM5K7D83DGC50186 JTEDS41A282026170 2C3LA73W16H483347 JNKBY01F58M551225 3FA6P0H93DR308056 5TELU42N85Z005472 3FA6P0H76ER168813 1N4AL3AP5GN371084 1GKKVTED2BJ367894 5XYZT3LB3GG358789 5NPDH4AE4GH685175 3N1AB7APXHL712083 KNADM4A36F6443004 1GNLREED4AS152887 1FTEW1CM1BFC08011 1NXBU4EE8AZ231243 1C3CCCAB4GN152709 1N4AL3AP2FC110733 JN1CV6AR8DM769717 3FA6P0H79DR138767 3C4PDCBG9GT218899 3GCPKSE34BG346719 JN8AZ1MU2CW111538 1G1PG5SB2G7226007 1FADP3F22FL252417 1FMEU7EE9AUA55754 1GNFK13018R188273 JTHBJ46G272008213 3MZBN1U74HM123328 3N1AB7AP6JL624105 3G KEC16Z05G211831
 
 

 

 

4M2CN8B78AKJ25965 1C3CDZAB3CN 165302 2C3KA53G17H893494 1C3LC55D29N516605 YV1612FS7E2270652 1FMPU15L43LC31011 1J4FA49S25P316589 WBA3N7C51EF718186 SAJWA1CB1BLV15277 5N1DR2MM7JC625054 5N1AA0ND9BN608887 4JGBB86E49A479238 1G4PS5SK3F4219570 2G1WB58K981214579 3N1AB7AP6HY350787 1VWAA7A34JCO27671 4T1BE46K58U766610 2FMTK3J87FBC41215 1LNHL9DR6BG605587 3VWDX7AJXBM056604 1G4PR5SKOG4102039 3FA6P0H71GR275304 5NMZT3LB2JH076561 1VWAT7A37HC011534 3N1AB7APXJY336011 1GTR1VE03CZ345937 1N4AL3AP1HC209806

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}]]