EXHIBIT 10.10
AMENDMENT TO
AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT
This
AMENDMENT TO
AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT is
made and entered into as of May 15, 2008 (as it may be
modified, supplemented or amended from time to time in
accordance with its terms, this “ Amendment
”) by and among CATALOG RECEIVABLES
LLC , a Delaware limited liability company (the “
Seller
”), SPIRIT OF AMERICA,
INC ., a Delaware corporation, as servicer (in such
capacity, the “ Servicer
”), SHEFFIELD RECEIVABLES
CORPORATION , a Delaware corporation (the “
Purchaser
”), and BARCLAYS BANK PLC
, a public limited company organized under the laws of England
and Wales, as administrator for the Purchaser (in such
capacity, the “ Administrator
”).
BACKGROUND
WHEREAS , the Seller, the Servicer, the Purchaser and the
Administrator entered into an Amended and Restated Receivables
Purchase Agreement dated as of June 2, 2005 (as amended, the
“ Existing Purchase
Agreement ”), pursuant to which the Purchaser has
agreed, subject to the terms and conditions contained in the
Existing Purchase Agreement, to purchase an undivided interest in
Pool Receivables from the Seller from time to time during the term
of the Existing Purchase Agreement;
WHEREAS , the parties to the Existing Purchase Agreement
desire to amend the Existing Purchase Agreement;
NOW, THEREFORE , in consideration of the premises and the
mutual agreements herein contained, the parties hereto agree as
follows:
SECTION
1.
Defined Terms . Capitalized terms used in this
Amendment and not otherwise defined herein shall have the meanings
assigned to them in Appendix A to
the Existing Purchase Agreement.
SECTION
2.
Amendments . Appendix A to
the Existing Purchase Agreement shall be amended as
follows:
(a)
The
definition of “Portfolio Excess Spread Amount” shall be
deleted in its entirety and replaced with the following
definition:
“
Portfolio Excess
Spread Amount ” with respect to any Due Period,
shall equal the result of (a) Finance Charge Collections
during such Due Period, plus (b) investment earnings included
in Available Funds for such Settlement Date
pursuant
| 
