ENTERPRISE FUNDING CORPORATION
c/o MERRILL XXXXX MONEY MARKETS INC.
World Financial Center - South Tower
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
November 24, 1997
Xx. Xxxxxxx Xxxxxxxx
Performance Funding Corporation
0000 Xxxxxx Xxxxx Xxxx
Xxxxx 0000-X
Xxxxxx Xxxxxxx, Xxxxxxx 00000
Dear Xxxxxxx:
This letter is to confirm our agreement to amend the Transfer and Administration
Agreement (the "Agreement") between Union Acceptance Corporation (the
"Collection Agent"), Performance Funding Corporation (the "Transferor") and
Enterprise Funding Corporation (the "Company") dated July 24, 1995 and as
amended to date. The Agreement shall be amended as follows and shall be
effective as of today:
o In Section 5.2(j) insert the word "senior" before the phrase "long-term
unsecured debt rating lower than BBB- from Fitch Investors Service,
Inc. or the equivalent by Xxxxx'x or Standard and Poor's".
The Transferor hereby represents and warrants that the representations and
warranties of the Transferor set forth in Section 3.1 of the Transfer and
Administration Agreement are true and correct as of the date hereof (except
those representations and warranties set forth therein which specifically relate
to an earlier date).
All other terms and conditions of the Agreement not amended by this letter
agreement shall remain unchanged and in full force and effect.
If this letter correctly sets forth our agreement, please sign the enclosed
duplicate original and return to Xxxxx X. Xxxx, NationsBank Investment Banking,
NationsBank Xxxxxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 by
November 26, 1997.
Sincerely,
ENTERPRISE FUNDING CORPORATION
By: /s/ Xxxxxxx Xxxxxx
Name: Xxxxxxx Xxxxxx
Title:
-1-
Accepted and Agreed:
UNION ACCEPTANCE CORPORATION PERFORMANCE FUNDING CORPORATION
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxxxxx
------------------------- ---------------------------
Name: Xxxx X. Xxxxx Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President and Title: Vice President
Chief Financial Officer
