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Exhibit 4.2
FIFTH AMENDMENT TO REVOLVING CREDIT AGREEMENT
THIS FIFTH AMENDMENT TO REVOLVING CREDIT AGREEMENT
("Amendment") is dated effective as of May 16, 2008, by and among
AMERICA’S
CAR MART, INC. , an Arkansas corporation and TEXAS CAR-MART, INC. ,
a Texas corporation (separately and collectively,
“Borrower”) and BANK OF OKLAHOMA, N.A.
(“Bank”).
RECITALS
A. Reference
is made to the Revolving Credit Agreement dated as of June 23,
2005, and amended effective June 23, 2005, August 19, 2005,
September 30, 2005, April 28, 2006, and December 31, 2006 (as
amended, the "ACM Credit Agreement"), by and among Borrowers
and Bank, pursuant to which currently exists a $10,000,000
Revolving Line of Credit and a $10,000,000 Term Loan in favor
or Borrowers.
B. Borrower
and Bank hereby intend to make certain changes to the ACM
Credit Agreement to include provisions related to rate
management transactions. Terms used herein shall
have the meanings given in the ACM Credit Agreement unless
otherwise defined herein.
AGREEMENT
For
valuable consideration received, the parties agree to the
following.
1.
Amendments to
ACM Credit Agreement . The ACM Credit Agreement is
amended as follows.
1.1.
In Section 1.01, the defined term “Obligations” is
hereby deleted and replaced with the following:
“’Obligations’
means, collectively (i) all present and future loans,
advances, liabilities, obligations, covenants, duties, and
debts owing by the Borrower to the Agent and/or any Bank
arising under or pursuant to this Agreement or any of the
other Loan Documents, whether or not evidenced by any note, or
other instrument or document, whether arising from an
extension of credit, opening of a letter of credit,
acceptance, loan, guaranty, indemnification or otherwise,
whether direct or indirect (including, without limitation,
those acquired by assignment from others, and any
participation by the Agent and/or any Bank in the
Borrower’s debts owing to others), absolute or
contingent, due or to become due, primary or secondary, as
principal or guarantor, and including, without limitation, all
principal, interest, charges, expenses, fees, attorney’s
fees, filing fees and any other sums chargeable to the
Borrower hereunder or under any of the other Loan Documents,
and (ii) all Rate Management Obligations owing to the
Bank.”
1.2. The
following new defined terms are hereby added to Section
1.01:
“’Rate
Management Obligations’ of a Person means any and all
obligations of such Person, whether absolute or contingent and
howsoever and whensoever created, arising, evidenced or
acquired (including all renewals, extensions and modifications
thereof and substitutions therefor), under (i) any and all
Rate Management Transactions, and (ii) any and all
cancellations, buy backs, reversals, terminations or
assignments of any Rate Management
Transactions.”
“’Rate
Management Transaction’ means any transaction (including
an agreement with respect thereto) now existing or hereafter
entered by the Borrower
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