AMENDMENT NO. 3 TO RECEIVABLES
SALE AGREEMENTS AND AMENDMENT NO. 11 TO SECOND
AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT
THIS OMNIBUS AMENDMENT NO. 3, dated as of
April 29, 2009 (this “Amendment”),
is by and among:
(a) Tenneco
Automotive RSA Company, a Delaware corporation
(“Seller”),
(b) The Pullman
Company, a Delaware corporation
(“Pullman”),
(c) Tenneco
Automotive Operating Company Inc., a Delaware corporation, as
initial Servicer (“Tenneco Operating”
and, together with Seller and Pullman, the
“Companies”),
(d) Falcon Asset
Securitization Company LLC, a Delaware limited liability company as
assignee of Jupiter Securitization Company LLC
(“Falcon” or a
“Conduit”), and Liberty Street Funding LLC,
a Delaware limited liability company formerly known as Liberty
Street Funding Corp., a Delaware corporation (“Liberty
Street” or a
“Conduit”),
(e) The Bank of
Nova Scotia, a Canadian chartered bank acting through its New York
Agency, individually (together with Liberty Street, the
“Liberty Street Group”), and in its
capacity as agent for the Liberty Street Group (a
“Co-Agent”), and
(f) JPMorgan
Chase, N.A., individually (the “Falcon Committed
Purchaser” and, together with Falcon, the
“Falcon Group”), in its capacity as agent
for the Falcon Group (a “Co-Agent”), and
in its capacity as administrative agent for the Falcon Group, the
Liberty Street Group and each Co-Agent (in such capacity, together
with its successors and assigns, the “Administrative
Agent” and, together with each of the Co-Agents, the
“Agents”).
WHEREAS, Tenneco Operating and Seller are parties to
that certain Receivables Sale Agreement, dated as of
October 31, 2000, between Tenneco Operating, as seller, and
Seller, as purchaser, and Pullman and Seller are parties to that
certain Receivables Sale Agreement, dated as of December 27, 2000,
between Pullman, as seller, and Seller, as purchaser, as heretofore
amended (collectively, the “Receivables Sale
Agreements”);
WHEREAS, Seller, Tenneco Operating, the Liberty
Street Group, the Falcon Group and the Agents are parties to that
certain Second Amended and Restated Receivables Purchase Agreement
dated as of May 4, 2005, as heretofore amended (the
“Receivables Purchase Agreement” and,
together with the Receivable Sale Agreements, the
“Agreements”);
WHEREAS, pursuant to the Receivables Sale Agreements,
the Originators have sold, assigned, transferred, set-over and
otherwise conveyed to the Seller, and the Seller has acquired from
the Originators, certain Receivables arising in connection with the
sale of goods or the rendering of services by the Originators to,
and the obligation to pay any Finance Charges by, General Motors
Corporation, Chrysler LLC and its/their respective Subsidiaries
(the “Reassignment Receivables”), all
Related Security with respect to such Reassignment Receivables and
all Collections with respect to, and other proceeds of, such
Reassignment Receivables (collectively, the
“Reassignment Assets”);
WHEREAS, pursuant to the Receivables Purchase
Agreement, the Seller has sold, assigned, transferred and conveyed
all of the Seller’s right, title and interest in and to the
Reassignment Assets;
WHEREAS, the Seller has requested that the Purchasers
sell, assign, transfer and reconvey all of their right, title and
interest in such Reassignment Assets;
WHEREAS, each of the Purchasers on the terms and
conditions set forth herein, agrees to sell, assign, transfer and
reconvey all of its right, title and interest in and to all of the
Reassignment Assets;
WHEREAS, the Originators have requested that they be
permitted to purchase the Reassignment Assets, and the Seller
desires to sell, assign, transfer and reconvey to the Originators
such Reassignment Assets; and
WHEREAS, the parties wish to amend the Agreements on
the terms and subject to the conditions hereinafter set
forth.
NOW, THEREFORE, in consideration of the premises
herein contained, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto
hereby 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 Agreements.
2
2.1.
The following definition in the Receivables Purchase Agreement (and
as incorporated by reference in the Receivables Sale Agreements) is
hereby amended and restated in its entirety to read as
follows:
“Receivable” means all indebtedness and
other obligations owed to Seller or an Originator (at the time it
arises, and before giving effect to any transfer or conveyance
under a Receivables Sale Agreement or hereunder) or in which Seller
or an Originator has a security interest or other interest,
including, without limitation, any indebtedness, obligation or
interest constituting an account, chattel paper, instrument or
general intangible, arising in connection with the sale of goods or
the rendering of services by such Originator and the obligation to
pay any Finance Charges with respect thereto; provided,
however, in no event shall the term
“Receivable” include any such
indebtedness or obligations (i) owed by any Subsidiary of
Tenneco Automotive at any time, (ii) owed by Delphi
Corporation or any of its Subsidiaries if originated on or prior to
October 9, 2005; or (iii) owed by General Motors Corporation,
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