0001193125-11-143975.txt : 20110518 0001193125-11-143975.hdr.sgml : 20110518 20110518141535 ACCESSION NUMBER: 0001193125-11-143975 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110513 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20110518 DATE AS OF CHANGE: 20110518 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRIVETIME AUTOMOTIVE GROUP INC CENTRAL INDEX KEY: 0001012704 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 860721358 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14759 FILM NUMBER: 11854477 BUSINESS ADDRESS: STREET 1: 4020 E. INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 E. INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 FORMER COMPANY: FORMER CONFORMED NAME: DRIVETIME AUTOMOTIVE GROUP INC DATE OF NAME CHANGE: 20021106 FORMER COMPANY: FORMER CONFORMED NAME: UGLY DUCKLING CORP DATE OF NAME CHANGE: 19960426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DT Acceptance Corp CENTRAL INDEX KEY: 0001493927 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 820587346 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-169730 FILM NUMBER: 11854483 BUSINESS ADDRESS: STREET 1: 4020 E. INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 E. INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DriveTime Sales & Finance Company, LLC CENTRAL INDEX KEY: 0001503710 IRS NUMBER: 860657074 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-169730-04 FILM NUMBER: 11854479 BUSINESS ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DriveTime Car Sales Company, LLC CENTRAL INDEX KEY: 0001503711 IRS NUMBER: 860683232 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-169730-06 FILM NUMBER: 11854478 BUSINESS ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Approval Services Company, LLC CENTRAL INDEX KEY: 0001503717 IRS NUMBER: 273266484 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-169730-03 FILM NUMBER: 11854481 BUSINESS ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 FORMER COMPANY: FORMER CONFORMED NAME: Approved Services Company, LLC DATE OF NAME CHANGE: 20101018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DT Jet Leasing, LLC CENTRAL INDEX KEY: 0001503718 IRS NUMBER: 271063772 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-169730-02 FILM NUMBER: 11854482 BUSINESS ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DT Credit Company, LLC CENTRAL INDEX KEY: 0001503719 IRS NUMBER: 860677984 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-169730-05 FILM NUMBER: 11854480 BUSINESS ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 BUSINESS PHONE: (602) 852-6600 MAIL ADDRESS: STREET 1: 4020 EAST INDIAN SCHOOL ROAD CITY: PHOENIX STATE: AZ ZIP: 85018 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 8-K

 

 

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 13, 2011

 

 

 

Commission File
Number

   

Registrant, State of Incorporation;

Address; Telephone Number

   

I.R.S. Employer
Identification Number

333-169730   

DRIVETIME AUTOMOTIVE GROUP, INC.

(A Delaware Corporation)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    86-0721358
333-169730   

DT ACCEPTANCE CORPORATION

(An Arizona Corporation)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    82-0587346
333-169730-02   

DT JET LEASING, LLC

(An Arizona Limited Liability Company)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    27-1063772
333-169730-03   

APPROVAL SERVICES COMPANY, LLC

(An Arizona Limited Liability Company)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    27-3266484
333-169730-04   

DRIVETIME SALES AND FINANCE COMPANY, LLC

(An Arizona Limited Liability Company)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    86-0657074
333-169730-05   

DT CREDIT COMPANY, LLC

(An Arizona Limited Liability Company)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    86-0677984
333-169730-06   

DRIVETIME CAR SALES COMPANY, LLC

(An Arizona Limited Liability Company)

4020 East Indian School Road, Phoenix, Arizona 85018

(602) 852-6600

 

    86-0683232

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 1.01. Entry into a Material Definitive Agreement

On May 13, 2011, DriveTime Automotive Group, Inc. (“DTAG”) and DriveTime Acceptance Corporation (“DTAC”), through DTAC’s wholly-owned subsidiaries, DT Warehouse IV, LLC (“DT Warehouse IV”), and DT Credit Company, LLC (“DTCC”), entered into Amendment No. 1 to the Loan and Security Agreement (the “Amendment”), amending the Loan and Servicing Agreement, dated July 23, 2010, by and among DT Warehouse IV, as Borrower, DTCC, as Servicer, Wells Fargo Bank, National Association, as Backup Servicer, Paying Agent and Securities Intermediary, the Commercial Paper Conduits from time to time party thereto, the Financial Institutions from time to time party thereto, and The Royal Bank of Scotland plc (“RBS”), as Program Agent for the Conduit Lenders and Committed Lenders (the “Loan and Servicing Agreement”).

The Amendment extends the maturity of the Loan and Servicing Agreement from July 22, 2011 to May 11, 2012. Additionally, the Amendment increases the warehouse facility size from $50.0 million to $125.0 million, increases the advance rate from 50% to 53% and decreases the interest rate to RBS’ cost of funds plus 1.50% from 2.50%.

The foregoing description of the Amendment and the Loan and Servicing Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the Amendment, which will be filed as an exhibit to DTAG’s and DTAC’s next Quarterly Report on Form 10-Q and the Loan and Servicing Agreement, which is filed as Exhibit 10.11 to Amendment No. 7 to the Form S-4 Registration Statement filed on April 27, 2011 and is incorporated herein by reference.

 

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SIGNATURES

Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereto duly authorized.

 

Date: May 16, 2011     DRIVETIME AUTOMOTIVE GROUP, INC.
    By:  

/s/ Mark G. Sauder

        Mark G. Sauder
        Chief Financial Officer
Date: May 16, 2011     DT ACCEPTANCE CORPORATION
    By:  

/s/ Mark G. Sauder

        Mark G. Sauder
        Chief Financial Officer
Date: May 16, 2011     DT JET LEASING, LLC
    By:  

/s/ Raymond C. Fidel

        Raymond C. Fidel
        President, Chief Executive Officer and Manager
Date: May 16, 2011     APPROVAL SERVICES COMPANY, LLC
    By:  

/s/ Raymond C. Fidel

        Raymond C. Fidel
        Manager
Date: May 16, 2011     DRIVETIME SALES AND FINANCE COMPANY, LLC
    By:  

/s/ Raymond C. Fidel

        Raymond C. Fidel
        President, Chief Executive Officer and Manager
Date: May 16, 2011     DT CREDIT COMPANY, LLC
    By:  

/s/ Raymond C. Fidel

        Raymond C. Fidel
        President, Chief Executive Officer and Manager
Date: May 16, 2011     DRIVETIME CAR SALES COMPANY, LLC
    By:  

/s/ Raymond C. Fidel

        Raymond C. Fidel
        Manager

 

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