EX-10.47 2 h23363exv10w47.txt SECOND AMENDMENT TO FIFTH AMENDED REVOLVING CREDIT AGREEMENT EXHIBIT 10.47 SECOND AMENDMENT TO FIFTH AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT EFFECTIVE AS OF MARCH 8, 2005 AMONG GROUP 1 AUTOMOTIVE, INC., THE SUBSIDIARY BORROWERS LISTED HEREIN, THE LENDERS LISTED HEREIN, JPMORGAN CHASE BANK, N.A. AS ADMINISTRATIVE AGENT, COMERICA BANK, AS FLOOR PLAN AGENT, AND BANK OF AMERICA, N.A., AS DOCUMENTATION AGENT * * * * * J. P. MORGAN SECURITIES INC. LEAD ARRANGER AND SOLE BOOKRUNNER TABLE OF CONTENTS
Page ---- ARTICLE I. DEFINITIONS.......................................................... 1 Section 1.1 Terms Defined Above........................................... 1 Section 1.2 Terms Defined in Credit Agreement............................. 1 Section 1.3 Other Definitional Provisions................................. 1 ARTICLE II. AMENDMENTS TO CREDIT AGREEMENT...................................... 2 Section 2.1 Amendment..................................................... 2 ARTICLE III. LIMITED WAIVER..................................................... 2 Section 3.1 Limited Waiver................................................ 2 ARTICLE IV. CONDITIONS.......................................................... 2 Section 4.1 Loan Documents................................................ 3 Section 4.2 Representations and Warranties................................ 3 Section 4.3 Other Instruments or Documents................................ 3 ARTICLE V. MISCELLANEOUS........................................................ 3 Section 5.1 Adoption, Ratification and Confirmation of Credit Agreement... 3 Section 5.2 Successors and Assigns........................................ 3 Section 5.3 Counterparts.................................................. 3 Section 5.4 Number and Gender............................................. 3 Section 5.5 Invalidity.................................................... 3 Section 5.6 Titles of Articles, Sections and Subsections.................. 4 Section 5.7 Release....................................................... 4 Section 5.8 Governing Law................................................. 4 Section 5.9 Entire Agreement.............................................. 4
i SECOND AMENDMENT TO FIFTH AMENDED CREDIT AGREEMENT THIS SECOND AMENDMENT (THE "SECOND AMENDMENT") TO THE FIFTH AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (AS AMENDED, THE "CREDIT AGREEMENT") dated effective as of March 8, 2005 (the "EFFECTIVE DATE"), is entered into among GROUP 1 AUTOMOTIVE, INC., a Delaware corporation (the "COMPANY"), each of the Subsidiaries of the Company listed on the signature pages hereof and such other Subsidiaries of the Company which hereafter shall become parties the Credit Agreement (the Company and the Subsidiaries are sometimes referred to herein as, individually, a "BORROWER," and collectively, the "BORROWERS"), the lenders listed on the signature pages hereof (the "LENDERS"), JPMORGAN CHASE BANK, N.A. (as successor by merger to The Chase Manhattan Bank and Chase Bank of Texas, N.A.), as Administrative Agent for the Lenders (in such capacity together with any successor, the "AGENT"), COMERICA BANK, as Floor Plan Agent for the Lenders (in such capacity together with any successor, the "FLOOR PLAN AGENT"), and BANK OF AMERICA, N.A. (as successor to Bank One, NA), as Documentation Agent (in such capacity, together with any successor the "Documentation Agent" and together with the Agent and the Floor Plan Agent, the "Agents"). R E C I T A L S: The Company, each of the other Borrowers, the Agents and the Lenders are parties to the Credit Agreement dated June 2, 2003, pursuant to which the Lenders agreed to make loans to and extensions of credit on behalf of the Borrowers; and The Company, the Borrowers, the Agents and the Lenders desire to amend the Credit Agreement in the particulars hereinafter provided; NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: ARTICLE I. DEFINITIONS Section 1.1 Terms Defined Above As used in this Second Amendment, each of the terms defined in the opening paragraph and the Recitals above shall have the meaning assigned to such terms therein. Section 1.2 Terms Defined in Credit Agreement Each term defined in the Credit Agreement and used herein without definition shall have the meaning assigned to such term in the Credit Agreement, unless expressly provided to the contrary. Section 1.3 Other Definitional Provisions (a) The words "hereby", "herein", "hereinafter", "hereof", "hereto" and "hereunder" when used in this Second Amendment shall refer to this Second Amendment as a whole and not to any particular Article, Section, subsection or provision of this Second Amendment. 1 (b) Section, subsection and Exhibit references herein are to such Sections, subsections and Exhibits to this Second Amendment unless otherwise specified. ARTICLE II. AMENDMENTS TO CREDIT AGREEMENT The Company, each of the Borrowers, the Agents and the Lenders agree that the Credit Agreement is hereby amended, effective as of the Effective Date, in the following particulars. Section 2.1 Amendment to Section 10.1(c) Section 10.1(c) of the Credit Agreement is hereby amended to read as follows: "Indebtedness created under leases which, in accordance with GAAP, have been recorded and/or should have been recorded on the books of the applicable Borrower as Capital Leases and Indebtedness which is permitted in connection with the purchase of property, provided that the aggregate amount of all such Indebtedness permitted under this Section 10.1(c) is less than ten percent (10%) of Stockholders' Equity;" Section 2.2 Amendment to Schedule 7.16(g) Schedule 7.16(g) to the Credit Agreement is hereby amended to add the Liens described on the Supplement to Schedule 7.16(g) attached hereto (the "Supplement"). ARTICLE III. LIMITED WAIVER Section 3.1 Limited Waiver Lenders hereby waive (i) compliance with the covenant contained in Section 10.1(c) only to the extent required to avoid any Event of Default that may exist prior to the Effective Date of this Second Amendment, and (ii) any Event of Default that may exist as a result of the representation contained in Section 7.16 being untrue prior to the Effective Date of this Second Amendment as a result of the Liens listed in the Supplement. The waiver contained herein shall apply only until the Effective Date of this Second Amendment, at which time the Borrower shall comply with the covenant contained in Section 10.1(c) as amended hereby. The provisions hereof shall not in any way be construed to waive, nor shall this Amendment in any way serve as a waiver of any other Event of Default now or hereafter existing under the Credit Agreement or other Loan Documents, except as expressly set forth herein. ARTICLE IV. CONDITIONS The effectiveness of this Second Amendment is subject to the satisfaction of the following conditions precedent: 2 Section 4.1 Loan Documents The Agent shall have received counterparts of this Second Amendment executed and delivered by a duly authorized officer of the Company and each of the Borrowers and the Required Lenders. Section 4.2 Representations and Warranties Except as affected by the transactions contemplated in the Credit Agreement and this Second Amendment, each of the representations and warranties made by the Company and the other Borrowers in or pursuant to the Loan Documents shall be true and correct in all material respects as of the Effective Date, as if made on and as of such date, except to the extent that such representations and warranties are limited to an earlier date or period in which case they shall be limited to such earlier date or period. Section 4.3 Other Instruments or Documents The Agent shall receive such other instruments or documents as it may reasonably request. ARTICLE V. MISCELLANEOUS Section 5.1 Adoption, Ratification and Confirmation of Credit Agreement The Company, each of the Borrowers, the Agents and the Lenders do hereby adopt, ratify and confirm the Credit Agreement, as amended hereby, and the Security Documents, and acknowledges and agrees that the Credit Agreement, as amended hereby, and each of the Security Documents, are and remain in full force and effect. Section 5.2 Successors and Assigns This Second Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted pursuant to the Credit Agreement. Section 5.3 Counterparts This Second Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and may be delivered in original or facsimile form, and all of such counterparts taken together shall be deemed to constitute one and the same instrument and shall be enforceable as of the Effective Date upon the execution of one or more counterparts hereof by the Company, the other Borrowers, the Agents and the Lenders. In this regard, each of the parties hereto acknowledges that a counterpart of this Second Amendment containing a set of counterpart execution pages reflecting the execution of each party hereto shall be sufficient to reflect the execution of this Second Amendment by each necessary party hereto and shall constitute one instrument. Section 5.4 Number and Gender Whenever the context requires, reference herein made to the single number shall be understood to include the plural; and likewise, the plural shall be understood to include the singular. Words denoting sex shall be construed to include the masculine, feminine and neuter, when such construction is appropriate; and specific enumeration shall not exclude the general but shall be construed as cumulative. Definitions of terms defined in the singular or plural shall be equally applicable to the plural or singular, as the case may be, unless otherwise indicated. Section 5.5 Invalidity In the event that any one or more of the provisions contained in this Second Amendment shall for any reason be held invalid, illegal or unenforceable in any 3 respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Second Amendment. Section 5.6 Titles of Articles, Sections and Subsections All titles or headings to Articles, Sections, subsections or other divisions of this Second Amendment or the exhibits hereto, if any, are only for the convenience of the parties and shall not be construed to have any effect or meaning with respect to the other content of such Articles, Sections, subsections, other divisions or exhibits, such other content being controlling as the agreement among the parties hereto. Section 5.7 Release The Company and each of the other Borrowers do hereby release the Agents and each Lender and each Affiliate thereof and their respective directors, officers, employees and agents from, any and all losses, liabilities, claims or damages (including reasonable legal fees and expenses) to which any of them may become subject, insofar as such losses, liabilities, claims or damages arise out of or result from the Loan Documents or the transactions contemplated thereby, or the actions or inactions of any Person in regard thereto, including any Person hereby released, and the Company and each of the other Borrowers shall reimburse each Lender and each Affiliate thereof and their respective directors, officers, employees and agents, upon demand, for any expenses (including legal fees) reasonably incurred in connection with any investigation or proceeding involving such matters. Without prejudice to the survival of any other obligations of the Company and the other Borrowers hereunder and under the other Loan Documents, such release shall survive the termination of the Credit Agreement or this Amendment and the other Loan Documents, the payment of the Obligations, or the assignment of the Notes. Section 5.8 Governing Law THIS SECOND AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF TEXAS. Section 5.9 Entire Agreement THE CREDIT AGREEMENT, AS AMENDED BY THIS SECOND AMENDMENT AND THE OTHER LOAN DOCUMENTS, CONSTITUTE THE ENTIRE AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT THEREOF. ALL PRIOR UNDERSTANDINGS, STATEMENTS AND AGREEMENTS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT THEREOF ARE SUPERSEDED BY THE CREDIT AGREEMENT, AS AMENDED BY THIS SECOND AMENDMENT AND THE OTHER LOAN DOCUMENTS. [SIGNATURES BEGIN ON NEXT PAGE] 4 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed and delivered by their proper and duly authorized officers as of the Effective Date. BORROWERS: GROUP 1 AUTOMOTIVE, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Senior Vice President GROUP 1 REALTY, INC., a Delaware corporation; GROUP 1 FL HOLDINGS, INC., a Delaware corporation; GROUP 1 FUNDING, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: President BOB HOWARD AUTOMOTIVE-EAST, INC., an Oklahoma corporation; BOB HOWARD CHEVROLET, INC., an Oklahoma corporation; BOB HOWARD DODGE, INC., an Oklahoma corporation; BOB HOWARD MOTORS, INC., an Oklahoma corporation; BOB HOWARD NISSAN, INC., an Oklahoma corporation; BOHN HOLDINGS-DC, INC., a Delaware corporation; BOHN HOLDINGS-F, INC., a Delaware corporation; BOHN HOLDINGS-GM, INC., a Delaware corporation; BOHN HOLDINGS-S, INC., a Delaware corporation; CASA CHEVROLET, INC., a New Mexico corporation; CASA CHRYSLER PLYMOUTH JEEP, INC., a New Mexico corporation; DANVERS-DCII, INC., a Delaware corporation; DANVERS-DCIII, INC., a Delaware corporation; DANVERS-N, INC., a Delaware corporation; DANVERS-NII, INC., a Delaware corporation; S-1 DANVERS-S, INC., a Delaware corporation; DANVERS-SU, INC., a Delaware corporation; DANVERS-T, INC., a Delaware corporation; DANVERS-TII, INC., a Delaware corporation; DANVERS-TIII, INC., a Delaware corporation; DANVERS-TL, INC., a Delaware corporation; FMM, INC., a California corporation; GPI ATLANTA-F, INC., a Georgia corporation; GPI ATLANTA-FLM, INC., a Delaware corporation; GPI ATLANTA-FLMII, INC., a Delaware corporation; GPI ATLANTA-T, INC., a Delaware corporation; GPI SAC-SK, INC., a Delaware corporation; GPI SAC-T, INC., a Delaware corporation; GPI SD-DC, Inc., a Delaware corporation; GPI SD-IMPORTS, INC., a Delaware corporation GROUP 1 ASSOCIATES, INC., a Delaware corporation; HARVEY-T, INC., a Delaware corporation; HOWARD FORD, INC., a Delaware corporation; HOWARD PONTIAC-GMC, INC., an Oklahoma corporation; HOWARD-DC, INC., a Delaware corporation; HOWARD-DCII, INC., a Delaware corporation; HOWARD-FLMII, INC., a Delaware corporation; HOWARD-GM, INC., a Delaware corporation; HOWARD-GMII, INC., a Delaware corporation; HOWARD-GMIII, INC., a Delaware corporation; HOWARD-H, INC., a Delaware corporation; HOWARD-HA, INC., a Delaware corporation; HOWARD-FLM, INC., a Delaware corporation; HOWARD-SB, INC., a Delaware corporation; HOWARD-SI, INC., a Delaware corporation; JIM TIDWELL FORD, INC., a Delaware corporation; LUBY CHEVROLET CO., a Delaware corporation; MIKE SMITH AUTOMOTIVE-H, INC., a Delaware corporation; MIKE SMITH AUTOMOTIVE-N, INC., a Texas corporation; MIKE SMITH AUTOPLAZA, INC., a Texas corporation; MIKE SMITH AUTOPLEX BUICK, INC., a Texas corporation; MIKE SMITH AUTOPLEX DODGE, INC., a Texas corporation; MIKE SMITH AUTOPLEX, INC., a Texas corporation; MIKE SMITH AUTOPLEX-GERMAN IMPORTS, INC., a Texas corporation; MIKE SMITH GM, INC., a Delaware corporation; S-2 MIKE SMITH IMPORTS, INC., a Texas corporation; MIKE SMITH MOTORS, INC., a Texas corporation; MILLBRO, INC., a California corporation; MILLER AUTOMOTIVE GROUP, INC., a California corporation; MILLER-DM, INC., a Delaware corporation; MILLER FAMILY COMPANY, INC., a California corporation; MILLER IMPORTS, INC., a California corporation; MILLER INFINITI, INC., a California corporation; MILLER NISSAN, INC., a California corporation; MILLER-NII, INC., a Delaware corporation; MILLER-SZ, INC., a Delaware corporation; NJ-DM, INC., a Delaware corporation; NJ-H, INC., a Delaware corporation; NJ-SV, INC., a Delaware corporation; NY-FV, INC., a Delaware corporation; NY-FVII, INC., a Delaware corporation; NY-SB, INC., a Delaware corporation; PERIMETER FORD, INC., a Delaware corporation; SUNSHINE BUICK PONTIAC GMC TRUCK, INC., a New Mexico corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President AMARILLO MOTORS-C, LTD., a Texas limited partnership; AMARILLO MOTORS-F, LTD., a Texas limited partnership; AMARILLO MOTORS-J, LTD., a Texas limited partnership; AMARILLO MOTORS-SM, LTD., a Texas limited partnership; CHAPERRAL DODGE, LTD., a Texas limited partnership; GPI, LTD., a Texas limited partnership ; KUTZ-N, LTD., a Texas limited partnership; LUBBOCK MOTORS, LTD., a Texas limited partnership; LUBBOCK MOTORS-F, LTD., a Texas limited partnership; S-3 LUBBOCK MOTORS-GM, LTD., a Texas limited partnership; LUBBOCK MOTORS-S, LTD., a Texas limited partnership; LUBBOCK MOTORS-SH, LTD., a Texas limited partnership; LUBBOCK MOTORS-T, LTD., a Texas limited partnership; MAXWELL CHRYSLER DODGE JEEP, LTD., a Texas limited partnership; MAXWELL FORD, LTD., a Texas limited partnership; MAXWELL-G, LTD., a Texas limited partnership; MAXWELL-GMII, LTD., a Texas limited partnership; MAXWELL-N, LTD., a Texas limited partnership; MAXWELL-NII, LTD., a Texas limited partnership; MAXWELL-SM, LTD., a Texas limited partnership; MCCALL-H, LTD., a Texas limited partnership; MCCALL-HA, LTD., a Texas limited partnership; MCCALL-N, LTD., a Texas limited partnership; MCCALL-SB, LTD., a Texas limited partnership; MCCALL-T, LTD., a Texas limited partnership; MCCALL-TII, LTD., a Texas limited partnership; MCCALL-TL, LTD., a Texas limited partnership; PRESTIGE CHRYSLER NORTHWEST, LTD., a Texas limited partnership; PRESTIGE CHRYSLER SOUTH, LTD., a Texas limited partnership; ROCKWALL AUTOMOTIVE-DCD, LTD., A Texas limited partnership; ROCKWALL AUTOMOTIVE-F, LTD., a Texas limited partnership; By: GROUP 1 ASSOCIATES, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President GROUP 1 HOLDINGS-DC, L.L.C., a Delaware limited liability company; GROUP 1 HOLDINGS-F, L.L.C., a Delaware limited liability company; S-4 GROUP 1 HOLDINGS-GM, L.L.C., a Delaware limited liability company; GROUP 1 HOLDINGS-H, L.L.C., a Delaware limited liability company; GROUP 1 HOLDINGS-N, L.L.C., a Delaware limited liability company; GROUP 1 HOLDINGS-S, L.L.C., a Delaware limited liability company; GROUP 1 HOLDINGS-T, L.L.C., a Delaware limited \ liability company; By: GROUP 1 AUTOMOTIVE, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Senior Vice President COURTESY FORD, LLC, a Delaware limited liability company; GULF BREEZE FORD, LLC, a Delaware limited liability company; KEY FORD, LLC, a Delaware limited liability company; KOONS FORD, LLC, a Delaware limited liability company By: GROUP 1 FL HOLDINGS, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: President S-5 BOHN-DC, LLC, a Delaware limited liability company By: Bohn Holdings-DC, Inc., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President BOHN-FII, LLC, a Delaware limited liability company; BOHN-FIII, LLC, a Delaware limited liability company; HARVEY FORD, LLC, a Delaware limited liability company; HARVEY-FLM, LLC, a Delaware limited liability company By: BOHN HOLDINGS-F, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ * Name: Robert T. Ray Title: Vice President HARVEY GM, LLC, a Delaware limited liability company By: BOHN HOLDINGS-GM, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President S-6 HARVEY SM, LLC, a Delaware limited liability company By: BOHN HOLDINGS-S, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President S-7 HARVEY OPERATIONS-T, LLC, a Delaware limited liability company By: HARVEY-T, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President IRA AUTOMOTIVE GROUP, LLC, a Delaware limited liability company By: DANVERS-T, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: Vice President HOWARD-DCIII, LLC, a Delaware limited liability company By: GROUP 1 OK HOLDINGS, INC., a Delaware corporation By: /s/ Robert T. Ray ------------------------------------------ Name: Robert T. Ray Title: President S-8 GROUP 1 LP INTERESTS-F, INC., a Delaware corporation; GROUP 1 LP INTERESTS-DC, INC., a Delaware corporation; GROUP 1 LP INTERESTS-T, INC., a Delaware corporation; GROUP 1 LP INTERESTS-GM, INC., a Delaware corporation; GROUP 1 LP INTERESTS-H, INC., a Delaware corporation; GROUP 1 LP INTERESTS-S, INC., a Delaware corporation; GROUP 1 LP INTERESTS-N, INC., a Delaware corporation By: /s/ Mathew J. Baer ------------------------------------------ Name: Mathew J. Baer Title: President DELAWARE ACQUISITION-DC, LLC, a Delaware limited liability company By: GROUP 1 LP INTERESTS-DC, INC., a Delaware corporation By: /s/ Mathew J. Baer ------------------------------------------ Name: Mathew J. Baer Title: President DELAWARE ACQUISITION-F, LLC, a Delaware limited liability company By: GROUP 1 LP INTERESTS-F, INC., a Delaware corporation By: /s/ Mathew J. Baer ------------------------------------------ Name: Mathew J. Baer Title: President S-9 DELAWARE ACQUISITION-GM, LLC, a Delaware limited liability company By: GROUP 1 LP INTERESTS-GM, INC., a Delaware corporation By: /s/ Mathew J. Baer ------------------------------------------ Name: Mathew J. Baer Title: President DELAWARE ACQUISITION-N, LLC, a Delaware limited liability company By: GROUP 1 LP INTERESTS-N, INC., a Delaware corporation By: /s/ Mathew J. Baer ------------------------------------------ Name: Mathew J. Baer Title: President DELAWARE ACQUISITION-T, LLC, a Delaware limited liability company By: GROUP 1 LP INTERESTS-T, INC., a Delaware corporation By: /s/ Mathew J. Baer ------------------------------------------ Name: Mathew J. Baer Title: President S-10 AGENT, ISSUING BANK AND JPMORGAN CHASE BANK, N.A. LENDER: By: /s/ H. David Jones ------------------------------------------ Name: H. David Jones Title: Vice President S-11 FLOOR PLAN AGENT, SWING LINE BANK AND COMERICA BANK LENDER: By: /s/ Steve Waller ---------------------------------- Name: Steve Waller Title: Vice President S-12 DOCUMENTATION AGENT BANK OF AMERICA, N.A. AND LENDER: By: /s/ K. W. Winston, III --------------------------------------------- Name: K. W. Winston, III Title: Senior Vice President Address: 400 North Ashley Drive P.O. Box 31590 Tampa, Florida 33631-3590 Telecopy No.: 800-851-6331 S-13 LENDER: TOYOTA MOTOR CREDIT CORPORATION By: /s/ D. M. Taylor --------------------------------------------- Name: D. M. Taylor Title: Corporate Mgr. - National Accts. Address: 19001 S. Western Ave. EF13 Torrance, CA 90501 Telecopy No.: 310-468-5668 ----------------------------------- S-14 LENDER: U.S. BANK N.A. By: /s/ Jonathon A. Horton ------------------------------------------ Name: Jonathon A. Horton Title: Sr. Vice President Address: 13010 SW 68th Parkway Mail: PD-OR-LEAS Portland, OR 97223 Telecopy No.: 503-872-7562 S-15 LENDER: SOVEREIGN BANK By: /s/ Kyle Bourque ------------------------------------------- Name: Kyle Bourque Title: Vice President Address: 75 State Street Mail Code: MAI-SST-04-11 Boston, MA 02109 Telecopy No.: 617-757-5652 S-16 LENDER: KEY BANK NATIONAL ASSOCIATION By: /s/ Joe Haddon ------------------------------------------- Name: Joe Haddon Title: VP Address: 2390 E. Camelback Rd. #220 Phoenix, AZ 85016 Telecopy No.: 602-778-4098 S-17 LENDER: BNP PARIBAS By: /s/ Craig Pierce --------------------------------------------- Name: Craig Pierce Title: Vice President By: /s/ Aurora L. Abella --------------------------------------------- Name: Aurora Abella Title: Vice President Address: 1200 Smith Street Houston, TX 77002 Telecopy No.: (713) 659-5228 S-18 LENDER: WELLS FARGO BANK, N.A. By: /s/ Randall S. Price ------------------------------------------- Name: Randall S. Price Title: Credit Manager Address: One O'Connor Plaza 4th Floor Victoria, TX 77904 Telecopy No.: 361-574-5854 S-19 LENDER: SOUTHWEST BANK OF TEXAS, N.A. By: /s/ Preston Moore ------------------------------------------- Name: Preston Moore Title: Senior Vice President Address: 4400 Post Oak Parkway Houston, TX 77027 Telecopy No.: 713-571-5413 S-20 LENDER: BANK OF OKLAHOMA, N.A. By: /s/ Mark A. Fish -------------------------------------------- Name: Mark A. Fish Title: Senior Vice President Address: 201 Robert S. Kerr Oklahoma City, OK 73102 Telecopy No.: 405-272-2588 S-21 LENDER: BMW FINANCIAL SERVICES NA, LLC By: /s/ John B. Nore -------------------------------------------- Name: John B. Nore Title: GM, Retailer Finance Address: BMW Financial Services NA, LLC 5515 Parkcenter Circle Dublin, OH 48017 Telecopy No.: S-22 LENDER: AMARILLO NATIONAL BANK By: /s/ Brandon Blaut -------------------------------------------- Name: Brandon Blaut Title: Asst. Vice President Address: P.O. Box 1 Amarillo, TX 79105 Telecopy No.: 806-378-8234 S-23 SUPPLEMENT TO SCHEDULE 7.16(g) EXISTING LIENS Liens in favor of Manufacturer affiliate finance companies relating to the financing of loaner cars at the following dealerships: Bohn Brothers Toyota Ira Lexus Ira Toyota / Ira Automotive Group Lexus of Clear Lake Mike Smith Autoplex Miller Toyota Sterling McCall Lexus