SEC Contract Filing

Filing Date: 2021-12-20

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d91404dex101.htm
<DESCRIPTION>EX-10.1
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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="center"><B>RECEIVABLES PURCHASE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This RECEIVABLES PURCHASE AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this
&#147;<U>Agreement</U>&#148;), dated as of December&nbsp;15, 2021, is by and between Carvana, LLC, an Arizona limited liability company (&#147;<U>Carvana</U>&#148;), as the seller (the &#147;<U>Seller</U>&#148;), and Carvana Receivables Depositor
LLC, a Delaware limited liability company (the &#147;<U>Depositor</U>&#148;), as the purchaser (the &#147;<U>Purchaser</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AGREEMENTS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the
Purchaser desires to purchase automobile retail installment contracts and related rights owned by the Seller pursuant to this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Seller is willing to sell such contracts and related rights to the Purchaser pursuant to this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Purchaser intends to sell or otherwise transfer such contracts and related rights, or interests therein, to Carvana Auto
Receivables Trust <FONT STYLE="white-space:nowrap">2021-N4</FONT> a Delaware statutory trust (the &#147;<U>Issuing Entity</U>&#148;), pursuant to the Receivables Transfer Agreement, dated as of the date hereof (as amended, restated, supplemented or
otherwise modified from time to time, the &#147;<U>Receivables Transfer Agreement</U>&#148;), between the Issuing Entity and the Depositor; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuing Entity intends to contribute or otherwise transfer such contracts and related rights, or interests therein, to Carvana
Auto Receivables Grantor Trust 2021-N4, a Delaware statutory trust (the &#147;<U>Grantor Trust</U>&#148;), pursuant to the Receivables Contribution Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from
time to time, the &#147;<U>Receivables Contribution Agreement</U>&#148;), between the Issuing Entity and the Grantor Trust, in exchange for the Grantor Trust Certificate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Grantor Trust intends to pledge such contracts and related rights to Wells Fargo Bank, National Association, as indenture trustee
(the &#147;<U>Indenture Trustee</U>&#148;), and the Issuing Entity will issue notes backed by the Grantor Trust Certificate pursuant to the Indenture, dated as of the date hereof (as amended, modified or supplemented from time to time, the
&#147;<U>Indenture</U>&#148;), among the Issuing Entity, the Grantor Trust and the Indenture Trustee; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Bridgecrest Credit
Company, LLC, an Arizona limited liability company (the &#147;<U>Servicer</U>&#148;), is willing to service such contracts in accordance with the terms of the Servicing Agreement, dated as of the date hereof, among the Issuing Entity, the Grantor
Trust, the Backup Servicer and the Servicer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements and subject to the terms and
conditions herein contained, each party agrees as follows for the benefit of the other party: </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;I </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFINITIONS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.1
<U>Definitions; Rules of Construction</U>. Except as otherwise specified herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in <U>Part I</U> of <U>Appendix</U><U></U><U>&nbsp;A</U> to
this Agreement. All references herein to &#147;the Agreement&#148; or &#147;this Agreement&#148; are to this Receivables Purchase Agreement as it may be amended, supplemented or modified from time to time, the exhibits and schedules hereto and the
capitalized terms used herein, which are defined in <U>Part </U>I of such <U>Appendix A</U>, and all references herein to Articles, Sections and Subsections are to Articles, Sections or Subsections of this Agreement unless otherwise specified. The
rules of construction set forth in <U>Part II</U> of such <U>Appendix A</U> shall be applicable to this Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;II </P>
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