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Exhibit
10.1
OMNIBUS AMENDMENT NO.
2
[AMENDMENT NO. 2 TO
AMENDED AND RESTATED RECEIVABLES SALE
AGREEMENT AND AMENDMENT
NO. 2 TO SECOND AMENDED AND RESTATED
RECEIVABLES PURCHASE
AGREEMENT]
THIS OMNIBUS AMENDMENT
NO. 2 is entered into as of May 18, 2007 by and
among:
(a) Yellow Transportation,
Inc., an Indiana corporation, Roadway Express, Inc., a Delaware
corporation, USF Reddaway Inc., an Oregon corporation, and USF
Holland Inc., a Michigan corporation (each of the foregoing, an
“Originator” and collectively, the
“Originators” ),
(b) Yellow Roadway
Receivables Funding Corporation, a Delaware corporation (the
“Seller” ),
(c) JPMorgan Chase Bank,
N.A., SunTrust Bank, Wachovia Bank, National Association, and ABN
AMRO Bank, N.V. (each of the foregoing a “Committed
Purchaser” ),
(d) Falcon Asset
Securitization Company LLC (f/k/a Falcon Asset Securitization
Corporation), Three Pillars Funding LLC, Variable Funding Capital
Company LLC (as assignee of Blue Ridge Asset Funding Corporation),
and Amsterdam Funding Corporation (each of the foregoing, a
“Conduit” ),
(e) YRC Assurance Co. Ltd.,
an exempted company incorporated with limited liability under the
laws of Bermuda formerly known as USF Assurance Co. Ltd.,
individually and as agent for itself (in such latter capacity, a
“Co-Agent” ),
(f) Wachovia Bank, National
Association, as letter of credit issuer (the “LC
Issuer” );
(g) SunTrust Capital Markets,
Inc., Wachovia Bank, National Association, ABN AMRO Bank, N.A., and
JPMorgan Chase Bank, N.A., as
“Co-Agents,” and
(h) JPMorgan Chase Bank,
N.A., as administrative agent for the Groups (together with its
successors in such capacity, the “Administrative
Agent” and together with the Co-Agents, the
“Agents” ),
with respect to (i) that certain
Amended and Restated Receivables Sale Agreement, dated as of
May 24, 2005, by and among the Originators and the Seller (as
heretofore amended, the “Existing RSA” ),
and (ii) that certain Second Amended and Restated Receivables
Purchase Agreement, dated as of May 24, 2005, among the
parties hereto other than the Originators (as heretofore amended,
the “Existing RPA” and, together with the
Existing RSA, the “Existing Agreements”
).
FOR GOOD AND VALUABLE
CONSIDERATION, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as
follows:
1. Defined Terms .
Capitalized terms used herein and not otherwise defined shall have
their meanings as attributed to such terms in the Existing
Agreements.
2. Amendments
.
2.1 All references in the
Existing Agreements to “Falcon Asset Securitization
Corporation” are hereby replaced with “Falcon Asset
Securitization Company LLC”.
2.2 Section 1.11 of the
Existing RPA is hereby amended and restated in its entirety to read
as follows:
Section 1.11. Grant
of Security Interest .
(a) The Seller hereby grants
to the Administrative Agent for the ratable benefit of the
Purchasers and the LC Issuer, a security interest in all of its
right, title and interest, now owned or hereafter acquired, in the
Receivables, the Related Security, each Collection Account, the
Collections and proceeds thereof to secure payment of the Aggregate
Unpaids, including its indemnity obligations under Article VIII and
all other obligations owed hereunder to the Agents and the
Purchasers. After a Servicer Default, the Administrative Agent, on
behalf of the Purchasers and the LC Issuer, shall have, in addition
to the rights and remedies it may have under this Agreement, all
other rights and remedies provided to a secured creditor after
default under the UCC and other applicable law, which rights and
remedies shall be cumulative.
(b) Notwithstanding the
foregoing, the Agents, the Purchasers and the LC Issuer hereby
consent to the Seller’s declaration and payment to YRC
Worldwide Inc. of dividends of Receivables as to which the Obligor
thereof has taken any action, or suffered any event to occur, of
the type described in Section 7.1(c) as if references
to the Seller therein refer to such Obligor (each, a
“Bankrupt Receivable” ) free and clear of
any Adverse Claim of the Agents, the Purchasers or the LC Issuer,
provided that (i) no Servicer Default or
Potential Servicer Default exists and is continuing as of the date
on which such dividend is declared or made or will result from the
making of such dividend; (ii) the Seller gives the Agents not
less than 3 Business Days’ prior written notice of its
intention to declare such a dividend which identifies the
applicable Obligor by name and the then current outstanding balance
of the Bankrupt Receivables to be distributed; (iii) prior to
accepting any dividend of a Bankrupt Receivable, YRC Worldwide Inc.
delivers to the Agents a written certificate signed by an
authorized officer certifying that the Obligor on such Bankrupt
Receivable either has been or will be promptly directed to make any
payments in respect thereof to an address or account other than a
Collection Account; and (iv) distribution of a Bankrupt
Receivable will not alter its status as a Defaulted Receivable
or
2
Delinquent Receivable, as
applicable, as of any date prior to or in the month it is
distributed pursuant to this Section 1.11(b).
2.3 The definitions in the
Existing RPA of the following terms are hereby amended and restated
in their entirety to read, respectively, as follows:
“Calculation
Period” means, for the purposes of any calculation
defined herein which references a “Calculation Period,”
(i) during an Asynchronous Accounting Period, (A) in the
case of any amounts used in such c
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