SEC Contract Filing

Filing Date: 2022-12-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>11
<FILENAME>exhibit10-6.htm
<DESCRIPTION>INTERCREDITOR AGREEMENT
<TEXT>
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 <div style="text-align: right;"><font style="font-weight: bold; font-style: normal;">Exhibit 10.6</font><br>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">INTERCREDITOR AGREEMENT</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">This INTERCREDITOR AGREEMENT, dated as of December 9, 2022 (as amended, restated, supplemented or otherwise modified from time to time, this &#8220;Agreement&#8221;), is among (i)
 EXETER FINANCE LLC (&#8220;Exeter&#8221;), as servicer (the &#8220;Servicer&#8221;), (ii) CITIBANK, N.A., as intercreditor agent (in such capacity, the &#8220;Intercreditor Agent&#8221;), and (iii) each Other Party that becomes a party hereto from time to time pursuant to an Accession
 Agreement.</div>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">RECITALS</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">WHEREAS, Exeter is engaged in the business of purchasing, selling and servicing motor vehicle retail installment sale contracts and auto loan agreements (the
 &#8220;Receivables&#8221;);</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">WHEREAS, from time to time, Exeter sells certain Receivables, directly or indirectly, to SPEs, and each SPE finances the purchase of such Receivables through a
 Transaction, and grants to the related Indenture Trustee a security interest in such Receivables and the collections thereon for the benefit of the related secured parties;</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">WHEREAS, Exeter has been engaged by each SPE to act as the Servicer of the Receivables owned by such SPE pursuant to the terms of the related Transaction Documents;</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">WHEREAS, payments made on or in respect of the Receivables owned by the SPEs are deposited into a lockbox account and then distributed to a collection account for the
 related Transaction;</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">WHEREAS, the parties hereto desire to delineate the rights and obligations of the parties hereto with respect to the foregoing Receivable payments, as described in
 this Agreement; and</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">WHEREAS, each Other Party that becomes a party hereto from time to time pursuant to an Accession Agreement will become subject to this Agreement in respect of the
 rights and obligations of the parties hereto with respect to such Receivable payments.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman';">NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
 parties hereto agree as follows:</div>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">ARTICLE ONE<br>
 DEFINITIONS</div>
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 <div style="text-align: justify; text-indent: 72pt;"><font style="font-family: 'Times New Roman';">Section 1.01</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> &#160;</font><font style="font-family: 'Times New Roman';"><u>Definitions</u>.&#160; Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings:</font></div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman';">&#8220;Accession Agreement&#8221; means an Accession Agreement substantially in the form of Exhibit A hereto.</div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman';">&#8220;Accounting Firm&#8221; shall mean a nationally recognized accounting firm mutually acceptable to the disputing parties (as identified in Section&#160;3.14(a)).</div>
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