SEC Contract Filing

Filing Date: 2017-08-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex102q22017.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2017 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s1AFADE90E23A5EADA366A42D6B1C4056"></a></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.2</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIXTH AMENDMENT TO</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AMENDED AND RESTATED INVENTORY FINANCING AND SECURITY AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">I. Parties</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Sixth Amendment to Amended and Restated Inventory Financing and Security Agreement (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:10pt;">&#8221;) is effective as of August&#160;4, 2017, and is made by and among the following parties:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">A.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ally Bank </font><font style="font-family:inherit;font-size:10pt;">(Ally Capital in Hawaii, Mississippi, Montana and New Jersey), a Utah chartered state bank (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Bank</font><font style="font-family:inherit;font-size:10pt;">&#8221;), with its principal executive office located at 6985&#160;Union&#160;Park&#160;Center, Midvale, Utah 84047; and</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">B.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ally Financial Inc.</font><font style="font-family:inherit;font-size:10pt;">, a Delaware entity </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">(&#8220;Ally</font><font style="font-family:inherit;font-size:10pt;">&#8221;) with a business office located at 5851&#160;Legacy&#160;Circle, Suite&#160;200, Plano, TX 75024 (together with Bank, the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Ally Parties</font><font style="font-family:inherit;font-size:10pt;">,&#8221; and Bank and Ally each being an &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Ally Party</font><font style="font-family:inherit;font-size:10pt;">&#8221;); and</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">C.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Carvana, LLC</font><font style="font-family:inherit;font-size:10pt;">, an Arizona limited liability company, with its principal executive office located at 1930 W. Rio Salado Parkway, Tempe, AZ 85281 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Dealership</font><font style="font-family:inherit;font-size:10pt;">&#8221;).</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">II. Recitals</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The essential facts relied on by Bank, Ally and the Dealership as true and complete, and giving rise to this Agreement, are as follows:</font></di