SEC Contract Filing

Filing Date: 2018-03-13

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d505710dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION COPY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">OMNIBUS
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">AMENDMENT NO.&nbsp;8 TO </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">RECEIVABLES LOAN AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">AMENDMENT NO. 3 TO </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">SALE AND
CONTRIBUTION AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This OMNIBUS AMENDMENT NO. 8 TO RECEIVABLES LOAN AGREEMENT AND AMENDMENT NO. 3 TO SALE AND CONTRIBUTION AGREEMENT,
effective as of March&nbsp;9, 2018 (this &#147;<U>Amendment</U>&#148;), is executed by and among HILTON GRAND VACATIONS TRUST I LLC, a Delaware limited liability company (together with its successors and assigns, the &#147;<U>Borrower</U>&#148;),
HILTON RESORTS CORPORATION, a Delaware corporation (the &#147;<U>Seller</U>&#148;), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Paying Agent and Securities Intermediary, the financial institutions signatory hereto as
Managing Agents, the financial institutions signatory hereto as Conduit Lenders, the financial institutions signatory hereto as Committed Lenders and DEUTSCHE BANK SECURITIES, INC., as Administrative Agent. Capitalized terms used, but not otherwise
defined herein, shall have the meanings ascribed thereto in the &#147;Receivables Loan Agreement&#148; (defined below). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WITNESSETH: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower, the Managing Agents party thereto, the Administrative Agent, Wells Fargo Bank National Association, as Securities
Intermediary and Paying Agent, the Conduit Lenders party thereto, and the Committed Lenders party thereto are parties to that certain Receivables Loan Agreement dated as of May&nbsp;9, 2013 (as amended, restated, supplemented or otherwise modified
from time to time, the &#147;<U>Receivables Loan Agreement</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower and Seller are party to that certain Sale
and Contribution Agreement, dated as of May&nbsp;9, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the &#147;<U>Sale and Contribution Agreement</U>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, as provided herein, the parties hereto have agreed to provide certain waivers under the Receivables Loan Agreement and Sale and
Contribution Agreement and amend certain provisions of the Receivables Loan Agreement and the Sale and Contribution Agreement, each as further described below; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises and the mutual agreements hereinafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waivers to the Receivables Loan Agreement and Sale and Contribution Agreement</U>. Effective as of the date hereof (the &#147;<U>Effective Date</U>&#148;), and subject to the satisfaction of the conditions precedent set
forth in Section&nbsp;4 hereof, the Administrative Agent and the Majority Managing Agents agree to waive the following Defaults and Events of Default: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.1&nbsp;&nbsp;&nbsp;&nbsp;Prior to the date hereof, failure to deliver the audited financial statements, related notes and related compliance
certificate with respect to the Seller and its Subsidiaries on a consolidated basis as at the end of the 2016 fiscal year as required pursuant to Section&nbsp;4.2(a)(ii) and 4.2(b) of the Sale and Contribution Agreement; and </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.2&nbsp;&nbsp;&nbsp;&nbsp;Failure to deliver the unaudited financial statements and related
compliance certificates with respect to the Seller and its Subsidiaries on a consolidated basis for each of the quarterly fiscal periods ending March&nbsp;31, 2017, June&nbsp;30, 2017 and September&nbsp;30, 2017 as required pursuant to
Section&nbsp;4.2(a)(i) and 4.2(b) of the Sale and Contribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing waivers do not and shall not apply to any other
Default or Event of Default that may currently be outstanding, and shall not apply to any future Default or Event of Default. Without limiting the generality of the foregoing, each of the Borrower and S