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 8, 2017
Nissan Master Owner Trust Receivables
(Exact name of Issuing Entity as specified in its charter)
Central Index Key Number: 0001236424
Nissan Wholesale Receivables Corporation II
(Exact name of Depositor as specified in its charter)
Central Index Key Number: 0001236416
Nissan Motor Acceptance Corporation
(Exact name of Sponsor as specified in its charter)
Central Index Key Number: 0001540639
Delaware | 333-210906-01 | 51-6538952 | ||
(State or Other Jurisdiction of Incorporation of Issuing Entity) |
(Commission File Number of Issuing Entity) |
(IRS Employer Identification No. of Issuing Entity) |
ONE NISSAN WAY ROOM 5-124 FRANKLIN, TENNESSEE |
37067 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (615) 725-1122
None
(Former Name or Former Address, if Changed Since Last Report)
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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01. OTHER EVENTS.
The registrant has filed a prospectus, dated May 8, 2017, setting forth a description of the revolving pool of receivables and the structure of $515,000,000 aggregate principal amount of the Series 2017-A Asset Backed Notes by Nissan Master Owner Trust Receivables.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(a) | Not applicable. |
(b) | Not applicable. |
(c) | Not applicable. |
(d) | Exhibits |
The exhibit number corresponds with Item 601(a) of Regulation S-K.
Exhibit No. |
Description | |
Exhibit 5.1 | Opinion of Mayer Brown LLP, dated as of May 10, 2017, as to legality matters | |
Exhibit 8.1 | Opinion of Mayer Brown LLP, dated as of May 10, 2017, as to certain tax matters |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NISSAN WHOLESALE RECEIVABLES CORPORATION II | ||
By: | /s/ Steven W. Hetrick | |
Name: | Steven W. Hetrick | |
Title: | Treasurer |
Date: May 10, 2017
EXHIBIT INDEX
Item 601(a) of Regulation S-K
Exhibit No. |
Description | |
Exhibit 5.1 | Opinion of Mayer Brown LLP, dated as of May 10, 2017, as to legality matters | |
Exhibit 8.1 | Opinion of Mayer Brown LLP, dated as of May 10, 2017, as to certain tax matters |
Exhibit 5.1
Mayer Brown LLP
71 South Wacker Drive
Chicago, Illinois 60606-4637
Main Tel +1 312 782 0600
Main Fax +1 312 701 7711
www.mayerbrown.com
May 10, 2017
Nissan Wholesale Receivables Corporation II
Nissan Motor Acceptance Corporation
Nissan Master Owner Trust Receivables
One Nissan Way
Franklin, Tennessee 37067
Re: | Nissan Wholesale Receivables Corporation II |
Nissan Motor Acceptance Corporation |
Nissan Master Owner Trust Receivables |
Registration Statement on Form SF-3 |
Registration No. 333-210906 |
Ladies and Gentlemen:
We have acted as special counsel to Nissan Wholesale Receivables Corporation II (the Company), a Delaware corporation and wholly-owned limited purpose subsidiary of Nissan Motor Acceptance Corporation, a California corporation (NMAC), in connection with the above-captioned registration statement (such registration statement, together with the exhibits and any amendments thereto, the Registration Statement) and the offering of the Nissan Master Owner Trust Receivables Series 2017-A Notes (the Notes) described in the prospectus dated May 8, 2017 (the Prospectus), which has been filed by the Company with the Securities and Exchange Commission (the Commission) pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the Act). As described in the Prospectus, the Notes will be issued by Nissan Master Owner Trust Receivables, a Delaware statutory trust (the Issuing Entity) formed by the Company pursuant to the trust agreement, dated as of May 13, 2003, as amended and restated by the Amended and Restated Trust Agreement, dated as of July 24, 2003, and as further amended and restated as of October 15, 2003, by and between the Company and Wilmington Trust Company, a Delaware banking corporation, as Owner Trustee (as amended, Trust Agreement). The Notes will be issued pursuant to the Indenture, dated as of October 15, 2003, between the Issuing Entity and U.S. Bank National Association, as indenture trustee, as amended, and as further supplemented by an indenture supplement (the Indenture Supplement) between the Issuing Entity and the Indenture Trustee (as defined in the Indenture Supplement). Capitalized terms used herein without definition have the respective meanings assigned to such terms in the Prospectus.
Mayer Brown LLP operates in combination with other Mayer Brown entities (the Mayer Brown Practices), which have offices in North America,
Europe and Asia and are associated with Tauil & Chequer Advogados, a Brazilian law partnership.
MAYER BROWN LLP
Nissan Wholesale Receivables Corporation II
Nissan Motor Acceptance Corporation
Nissan Master Owner Trust Receivables
May 10, 2017
Page 2
We have examined originals or copies, certified or otherwise identified to our satisfaction, of the organizational documents of the Depositor, Nissan Motor Acceptance Corporation (NMAC) and the Issuing Entity, the Prospectus, the Indenture, the current drafts of the Underwriting Agreement between the Issuing Entity and the Underwriters and the Indenture Supplement, the form of Notes included as an exhibit to the Indenture Supplement, and such other records, documents and certificates of the Depositor, NMAC, the Issuing Entity and public officials and other instruments as we have deemed necessary for the purpose of this opinion.
Based on and subject to the foregoing, we are of the opinion that, with respect to the Notes, when (a) the Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended, (b) the Notes have been duly executed and issued by the Issuing Entity and authenticated by the Indenture Trustee and sold by the Issuing Entity and (c) payment of the agreed consideration for the Notes shall have been received by the Issuing Entity, all in accordance with the terms and conditions of the Indenture Supplement and the Underwriting Agreement and in the manner described in the Prospectus, such Notes will have been duly authorized by all necessary action of the Issuing Entity and will be legally issued and binding obligations of the Issuing Entity and entitled to the benefits afforded by the Indenture Supplement and the Indenture, except as may be limited by bankruptcy, insolvency, reorganization, arrangement, moratorium or other laws relating to or affecting creditors rights generally (including, without limitation, fraudulent conveyance laws), and by general principles of equity, including without limitation, concepts of specific performance or injunctive relief, regardless of whether such matters are considered in a proceeding in equity or at law.
Our opinions expressed herein are limited to the federal laws of the United States and the laws of the State of New York and the State of Delaware.
MAYER BROWN LLP
Nissan Wholesale Receivables Corporation II
Nissan Motor Acceptance Corporation
Nissan Master Owner Trust Receivables
Page 3
We hereby consent to the filing of this opinion with the Commission as Exhibit 5.1 to a Form 8-K filed in connection with the Prospectus and to the use of our name therein without admitting we are experts within the meaning of the Act or the rules and regulations of the Commission issued thereunder, with respect to any part of the Registration Statement or the Prospectus.
Respectfully submitted, |
/s/ Mayer Brown LLP |
Mayer Brown LLP |
Exhibit 8.1
Mayer Brown LLP 71 South Wacker Drive Chicago, Illinois 60606-4637
| ||
May 10, 2017 | Main Tel +1 312 782 0600 Main Fax +1 312 701 7711 www.mayerbrown.com |
Nissan Wholesale Receivables Corporation II
Nissan Motor Acceptance Corporation
Nissan Master Owner Trust Receivables
One Nissan Way
Franklin, Tennessee 37067
Re: | Nissan Wholesale Receivables Corporation II |
Nissan Motor Acceptance Corporation |
Nissan Master Owner Trust Receivables |
Registration Statement on Form SF-3 |
Registration No. 333-210906 |
Ladies and Gentlemen:
We have acted as special federal tax counsel to Nissan Wholesale Receivables Corporation II (the Company), a Delaware corporation and wholly-owned limited purpose subsidiary of Nissan Motor Acceptance Corporation, a California Corporation (NMAC), in connection with the above-captioned registration statement (such registration statement, together with the exhibits and any amendments thereto, the Registration Statement) and the offering of the Nissan Master Owner Trust Receivables Series 2017-A Notes (the Notes) described in the prospectus dated May 8, 2017 (the Prospectus), filed by the Company with the Securities and Exchange Commission (the Commission) pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the Act). As described in the Prospectus, the Notes will be issued by Nissan Master Owner Trust Receivables, a Delaware statutory trust (the Issuing Entity) formed by the Company pursuant to the Trust Agreement, dated as of May 13, 2003, as amended and restated by the Amended and Restated Trust Agreement, dated as of July 24, 2003, and as further amended and restated as of October 15, 2003, by and between the Company and Wilmington Trust Company, a Delaware banking corporation, as Owner Trustee (Trust Agreement). The Notes will be issued pursuant to the Indenture, dated as of October 15, 2003, between the Issuing Entity and U.S. Bank National Association, as indenture trustee, as supplemented by an indenture supplement (the Indenture Supplement) between the Issuing Entity and the Indenture Trustee (as defined in the related Indenture Supplement). Capitalized terms used herein without definition have the respective meanings assigned to such terms in the Prospectus.
In that regard, we generally are familiar with the proceedings required to be taken in connection with the proposed authorization, issuance and sale of the Notes and have examined copies of such documents, corporate records and other instruments as we have deemed necessary or appropriate for the purpose of this opinion, including the Prospectus and, current drafts of the Underwriting Agreement and Indenture Supplement (including the form of Notes included as an
Mayer Brown LLP operates in combination with other Mayer Brown entities (the Mayer Brown Practices), which have offices in North America,
Europe and Asia and are associated with Tauil & Chequer Advogados, a Brazilian law partnership.
Mayer Brown LLP
Nissan Wholesale Receivables Corporation II
Nissan Motor Acceptance Corporation
Nissan Master Owner Trust Receivables
May 10, 2017
Page 2
exhibit thereto). In addition, we have assumed that the Underwriting Agreement and Indenture Supplement with respect to the Notes is executed and delivered in substantially the form we have examined and that the transactions contemplated to occur under such document in fact occur in accordance with the terms thereof.
Based on the foregoing, we hereby confirm and adopt the opinions set forth in the Prospectus (to the extent they relate to federal income tax consequences) under the captions Summary of TermsTax Status and Material Federal Income Tax Consequences.
The opinion expressed above is subject to the following assumptions, qualifications, limitations and exceptions.
The opinion set forth herein is based upon the applicable provisions of the Internal Revenue Code of 1986, as amended, Treasury regulations promulgated and proposed thereunder, current positions of the Internal Revenue Service (IRS) contained in published Revenue Rulings and Revenue Procedures, current administrative positions of the IRS and existing judicial decisions. No tax rulings will be sought from the IRS with respect to any of the matters discussed herein. The statutory provisions, regulations and interpretations on which our opinions are based are subject to change, which changes could apply retroactively. In addition, there can be no assurance that positions contrary to those stated in our opinion may not be taken by the IRS.
This opinion is expressly limited to the matters set forth above and we render no opinion, whether by implication or otherwise, as to any other matters. We assume no obligation to update or supplement this opinion to reflect any facts or circumstances that arise after the date of this opinion and come to our attention, or any future changes in laws.
Mayer Brown LLP
Nissan Wholesale Receivables Corporation II
Nissan Motor Acceptance Corporation
Nissan Master Owner Trust Receivables
Page 3
We know that we are referred to under the captions referred to above included in the Prospectus, and we hereby consent to the use of our name therein and to the use of this opinion for filing of this opinion with the Commission as Exhibit 8.1 to a Form 8-K filed in connection with the Prospectus, without admitting we are experts within the meaning of the Act or the rules and regulations of the Commission issued thereunder, with respect to any part of the Registration Statement or the Prospectus.
Respectfully submitted, |
/s/ Mayer Brown LLP |
Mayer Brown LLP |