SEC Contract Filing

Filing Date: 2023-04-18

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d463629dex102.htm
<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AMENDMENT NO. 12 TO </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AMENDED AND
RESTATED RECEIVABLES PURCHASE AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">This AMENDMENT NO. 12, dated as of April&nbsp;14, 2023 (this
&#147;<U><I>Amendment</I></U>&#148;), (this &#147;<U><I>Amendment</I></U>&#148;), is made with respect to that certain Amended and Restated Receivables Purchase Agreement, dated as of November&nbsp;18, 2011 (as amended, restated, supplemented or
otherwise modified, the &#147;<U><I>Agreement</I></U>&#148;), among LPAC CORP., a Delaware corporation ( the &#147;<U><I>Seller</I></U>&#148;), LENNOX INDUSTRIES INC., a Delaware corporation, as master servicer thereunder (in such capacity, the
&#147;<U><I>Master Servicer</I></U>&#148;), VICTORY RECEIVABLES CORPORATION, a Delaware corporation, as a Purchaser, MUFG BANK, LTD. (formerly known as The Bank of Tokyo-Mitsubishi UFJ, Ltd.), as administrative agent for the Investors (in such
capacity, the &#147;<U><I>Administrative Agent</I></U>&#148;), the purchaser agent for the MUFG Purchaser Group (in such capacity, the &#147;<U><I>MUFG Purchaser Agent</I></U>&#148;) and a MUFG Liquidity Bank, WELLS FARGO BANK, NATIONAL ASSOCIATION
(&#147;<U><I>WFB</I></U>&#148;), as&nbsp;the purchaser agent for the WFB Purchaser Group (in such capacity, the &#147;<U><I>WFB Purchaser Agent</I></U>&#148;) and a WFB Liquidity Bank (the &#147;<U><I>WFB Liquidity Bank</I></U>&#148;), and PNC BANK,
NATIONAL ASSOCIATION (&#147;<U><I>PNC</I></U>&#148;), as&nbsp;the purchaser agent for the PNC Purchaser Group (in such capacity, the &#147;<U><I>PNC Purchaser Agent</I></U>&#148;) and a PNC Liquidity Bank (the &#147;<U><I>PNC Liquidity
Bank</I></U>&#148;). Capitalized terms used and not otherwise defined in this Amendment shall have the meanings given to such terms in the Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><U>Preliminary Statement</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Each of the parties to the Agreement desires to amend the Agreement on the conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the signatories hereto agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Amendment to the Agreement</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Effective as of the date hereof in accordance with Section&nbsp;2 of this Amendment, the Agreement is hereby amended as follows. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><U>Section&nbsp;1.1</U> Section&nbsp;2.6 of the Agreement is deleted in its entirety and replaced as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;2.6 <U>Benchmark Replacement</U></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a)<U> Benchmark Replacement</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) Notwithstanding anything to the contrary herein or in any other Transaction Document, upon the occurrence of a Benchmark Transition Event,
the Administrative Agent and the Seller may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York City
time) on the fifth (5th)&nbsp;Business Day after the date notice of such Benchmark Replacement is provided to the Purchaser Agents and the Seller so long as the Administrative Agent has not received, by such time, written notice of objection to such
amendment from any Purchaser Agent. No replacement of a Benchmark with a Benchmark Replacement pursuant to this Section&nbsp;2.6(a)(i) will occur prior to the applicable Benchmark Transition Start Date. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Benchmark Replacement Conforming Changes</U>. In connection with the use,
administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Transaction
Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Transaction Document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Notices; Standards for Decisions and Determinations</U>. The Administrative Agent will promptly notify the Seller and the Purchaser
Agents of (i)&nbsp;the implementation of any Benchmark Replacement and (ii)&nbsp;the effec