CONFORMED
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the quarterly period ended March 31, 1995
-------------------------
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from __________ to __________
Commission file number 1-5966
--------------------
Chrysler Financial Corporation
(Exact name of registrant as specified in its charter)
State of Michigan 38-0961430
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
27777 Franklin Road, Southfield, Michigan 48034-8286
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (810) 948-3060
--------------------------
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes __x__ No_____
APPLICABLE ONLY TO ISSUERS
INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes _____ No _____
APPLICABLE ONLY TO CORPORATE ISSUERS
The registrant had 250,000 shares of common stock outstanding as of March 31,
1995.
The registrant meets the conditions set forth in General Instruction H(1)(a)
and (b) of Form 10-Q and is therefore filing this Form with the reduced
disclosure format.
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
The interim financial data presented herein are unaudited, but in the opinion
of management reflect all adjustments necessary for a fair presentation of
such information. Results for interim periods should not be considered
indicative of results for a full year. Reference should be made to the
financial statements contained in the registrant's Annual Report on Form 10-K
for the year ended December 31, 1994 (the "10-K Report").
2
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
Consolidated Statement of Net Earnings
(in millions of dollars)
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------------
1995 1994
------ ------
(unaudited)
<S> <C> <C>
Finance Revenue:
Automotive financing:
Retail $ 165 $ 138
Wholesale and other 177 118
Nonautomotive financing 41 76
------ ------
Total finance revenue 383 332
Interest expense 213 185
------ ------
Net margin 170 147
Other revenues:
Servicing fee income 69 61
Insurance premiums earned 37 34
Investment and other income (Note 4) 71 58
------ ------
Net margin and other revenues 347 300
------ ------
Costs and expenses:
Operating expenses 95 118
Provision for credit losses 88 47
Insurance losses and adjustment expenses 28 26
Depreciation and other expenses 27 34
------ ------
Total costs and expenses 238 225
------ ------
Earnings before income taxes 109 75
Provision for income taxes 40 28
------ ------
Net Earnings $ 69 $ 47
====== ======
<CAPTION>
Consolidated Statement of Three Months Ended
Shareholder's Investment March 31,
------------------------
(in millions of dollars) 1995 1994
------ ------
(unaudited)
<S> <C> <C>
Balance at beginning of period $3,273 $3,131
Net earnings 69 47
Common stock dividend (63) -
Net unrealized holding gains
(losses) on securities 7 (2)
------ ------
Balance at end of period $3,286 $3,176
====== ======
<FN>
Prior period reclassified to conform to current classifications.
See Notes to Consolidated Financial Statements.
</TABLE>
3
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
<TABLE>
<CAPTION>
Consolidated Balance Sheet
(in millions of dollars)
March 31, December 31, March 31,
Assets: 1995 1994 1994
------------ ------------ --------
(unaudited) (unaudited)
<S> <C> <C> <C>
Finance receivables - net (Note 1) $12,992 $12,423 $10,631
Retained interests in sold
receivables and other related
amounts - net (Note 1) 2,516 2,251 2,642
------- ------- -------
Total finance receivables and
retained interests - net 15,508 14,674 13,273
Cash and cash equivalents 330 174 200
Marketable securities 723 583 354
Dealership properties leased - net 398 407 415
Equipment and vehicles leased - net 243 234 153
Repossessed collateral 169 162 265
Amounts due from affiliated companies - 66 -
Other assets 331 348 496
------- ------- -------
Total Assets $17,702 $16,648 $15,156
======= ======= =======
Liabilities:
Debt (Note 3) $11,858 $10,671 $ 9,330
Accounts payable, accrued
expenses and other 1,018 1,155 1,089
Amounts due to affiliated companies 4 - 38
Deferred income taxes 1,536 1,549 1,523
------- ------- -------
Total Liabilities 14,416 13,375 11,980
------- ------- -------
Shareholder's Investment 3,286 3,273 3,176
------- ------- -------
Total Liabilities and
Shareholder's Investment $17,702 $16,648 $15,156
======= ======= =======
<FN>
Prior periods reclassified to conform to current classifications.
See Notes to Consolidated Financial Statements.
</TABLE>
4
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
<TABLE>
<CAPTION>
Consolidated Statement of Cash Flows
(in millions of dollars)
Three Months Ended
March 31,
----------------------
1995 1994
------ ------
(unaudited)
<S> <C> <C>
Cash Flows From Operating Activities:
Net earnings $ 69 $ 47
Adjustments to reconcile net earnings to
net cash provided by operating activities:
Net gains from receivable sales (7) (28)
Provision for credit losses 88 47
Depreciation, amortization and
write-off of intangibles 22 21
Change in deferred income taxes and income
taxes payable (17) 9
Changes in amounts due affiliates 70 14
Change in accounts payable, accrued
expenses and other assets (154) (63)
-------- --------
Net cash provided by operating activities 71 47
-------- --------
Cash Flows From Investing Activities:
Acquisitions of finance receivables (18,903) (16,070)
Collections of finance receivables 8,738 6,042
Proceeds from sales of receivables 9,352 9,051
Purchases of equipment and vehicles
leased (51) (29)
Dispositions of equipment and vehicles
leased 32 38
Purchases of marketable securities (469) (412)
Sales and maturities of marketable securities 340 404
Other (78) (32)
-------- --------
Net cash used in investing activities (1,039) (1,008)
-------- --------
Cash Flows From Financing Activities:
Change in short-term notes and affiliated borrowings (206) 307
Proceeds from issuance of term debt 1,470 769
Repayment of term debt (13) (249)
Dividends paid (63) --
Other (64) 69
-------- --------
Net cash provided by financing activities 1,124 896
-------- --------
Change in cash and cash equivalents 156 (65)
Cash and cash equivalents at beginning of period 174 265
-------- --------
Cash and Cash Equivalents at End of Period $ 330 $ 200
======== ========
<FN>
Prior period reclassified to conform to current classifications. See Notes to
Consolidated Financial Statements.
</TABLE>
5
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
Notes to Consolidated Financial Statements
Note 1 - Finance Receivables and Retained Interests
Outstanding balances of "Finance receivables - net" were as follows:
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1995 1994 1994
---------- ----------- ---------
(unaudited) (unaudited)
(in millions of dollars)
<S> <C> <C> <C>
Automotive:
Retail $ 5,918 $ 4,850 $ 3,789
Wholesale and other 3,460 3,113 2,665
Retained senior interests in sold
wholesale receivables* 1,528 2,173 1,673
------- ------- -------
Total automotive 10,906 10,136 8,127
------- ------- -------
Nonautomotive:
Leveraged leases 1,540 1,545 1,553
Commercial 803 955 1,162
------- ------- -------
Total nonautomotive 2,343 2,500 2,715
------- ------- -------
Total finance receivables 13,249 12,636 10,842
Less allowance for credit losses (257) (213) (211)
------- ------- -------
Total finance receivables - net $12,992 $12,423 $10,631
======= ======= =======
<FN>
* Represents receivables held in trust eligible to be securitized or
returned to the Company.
</TABLE>
The Company's retained interests in sold receivables and other related amounts
are generally restricted and subject to limited recourse provisions. The
following is a summary of amounts included in "Retained interests in sold
receivables and other related amounts - net":
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1995 1994 1994
---------- ----------- ---------
(unaudited) (unaudited)
(in millions of dollars)
<S> <C> <C> <C>
Cash and investments $ 682 $ 669 $ 531
Subordinated interests in
receivables 1,747 1,475 1,932
Excess servicing 121 135 195
Other restricted and securitized
assets 258 269 284
Less allowance for credit losses (292) (297) (300)
------- ------- -------
Total retained interests in sold
receivables and other related
amounts - net $ 2,516 $ 2,251 $ 2,642
======= ======= =======
</TABLE>
6
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
Notes to Consolidated Financial Statements
Note 1 - Finance Receivables and Retained Interests - continued
The Company's total allowance for credit losses including receivables sold
subject to limited recourse is as follows:
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1995 1994 1994
---------- ----------- ---------
(unaudited) (unaudited)
(in millions of dollars)
<S> <C> <C> <C>
Allowance for losses deducted from:
Finance receivables $ 257 $ 213 $ 211
Retained interests in sold
receivables and other
related amounts 292 297 300
Equipment and vehicles leased 2 2 -
------ ------- -------
Total $ 551 $ 512 $ 511
====== ======= =======
</TABLE>
Note 2 - Sales of Receivables
The Company sells receivables subject to limited recourse provisions.
Outstanding balances of sold finance receivables, excluding retained senior
interests in sold wholesale receivables, were as follows:
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1995 1994 1994
---------- ----------- ---------
(unaudited) (unaudited)
(in millions of dollars)
<S> <C> <C> <C>
Automotive:
Retail $12,411 $12,464 $12,205
Wholesale and other 6,791 5,416 5,379
Nonautomotive 181 275 398
------- ------- -------
Total $19,383 $18,155 $17,982
======= ======= =======
</TABLE>
Gains or losses from the sales of retail receivables are recognized in the
period in which such sales occur. Provisions for expected credit losses are
generally provided during the period in which such receivables are acquired.
Since the allowance for credit losses is separately provided prior to the
receivable sales, gains from receivable sales are not reduced for expected
credit losses. Included in "Investment and other income" are net gains before
expected credit losses totaling $7 million and $28 million for the three
months ended March 31, 1995 and 1994, respectively. The provision for credit
losses related to such sales amounted to $34 million and $31 million for the
three months ended March 31, 1995 and 1994, respectively.
The Company is committed to sell all wholesale receivables related to certain
dealer accounts.
7
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
Notes to Consolidated Financial Statements
Note 3 - Debt
<TABLE>
<CAPTION>
Weighted Average
Interest Rates at March 31, December 31, March 31,
Maturity March 31, 1995 1995 1994 1994
-------- ----------------- -------- ---------- --------
(unaudited) (unaudited)
(in millions of dollars)
<S> <C> <C> <C> <C>
Short-term notes placed
primarily in the open
market:
United States $ 3,556 $ 3,901 $ 2,598
Canada 553 414 481
------- ------- -------
Total short-term notes
(primarily commercial
paper) 6.6% 4,109 4,315 3,079
------- ------- -------
Senior term debt:
United States, due
1994 - - 615
1995 6.4% 573 574 574
1996 6.9% 1,602 1,602 1,092
1997 7.0% 1,418 653 485
1998 6.7% 1,242 943 735
1999 9.3% 1,316 1,227 1,200
Thereafter 7.3% 1,194 994 969
------- ------- ---------
Total United States 7,345 5,993 5,670
Canada, due 1994-1999 9.1% 183 78 41
Less unamortized discount 2 2 3
------- ------- -------
Total senior term debt 7,526 6,069 5,708
------- ------- -------
Subordinated term debt -
United States
Senior due 1995 8.3% 27 27 27
Mexico borrowings and other 196 260 516
------- ------- -------
Total debt $11,858 $10,671 $ 9,330
======= ======= =======
</TABLE>
Credit Facilities
The Company's credit facilities consist of $4.6 billion of U.S. and $.6
billion of Canadian credit facilities which expire in 1998. The Company's
automotive receivable sale agreements consist of a $1.5 billion U.S. agreement
(of which $.5 billion expires in 1995, and $1.0 billion expires in 1998) and a
$.2 billion Canadian agreement (of which $.1 billion expires in 1995, and $.1
billion expires in 1998). As of March 31, 1995 no amounts were outstanding
under the Company's revolving credit or receivable sale agreements.
The Company has contractual debt maturities of $4.9 billion during the
remainder of 1995 (including $4.1 billion of short-term notes), and $1.6
billion in 1996.
8
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 1. FINANCIAL STATEMENTS - CONTINUED
Notes to Consolidated Financial Statements
Note 4 - Sale of Nonautomotive Assets
During the first quarter of 1995, the Company sold Chrysler Systems Inc. A
gain of $12 million was realized and included in the consolidated statement of
net earnings under the caption "Investment and other income."
Note 5 - Accounting Changes
Impairment of a Loan
Effective January 1, 1995 the Company adopted Statement of Financial
Accounting Standards ("SFAS") No. 114, "Accounting by Creditors for Impairment
of a Loan," and SFAS No. 118, "Accounting by Creditors for Impairment of a
Loan - Income Recognition and Disclosure." These standards require creditors
to evaluate the collectibility of both contractual interest and principal of
receivables when evaluating the need for a loss accrual. A significant portion
of the Company's receivables consist of small-balance homogeneous loans which
are collectively evaluated for impairment. These standards do not apply to
these types of receivables.
The implementation of these standards did not have a material effect on the
Company's results of operations or financial position.
Note 6 - Subsequent Event
On April 12, 1995, Tracinda Corporation ("Tracinda"), which owns approximately
10 percent of the outstanding common stock of Chrysler Corporation
("Chrysler"), sent Chrysler a letter proposing to acquire the remaining 90
percent of Chrysler's common stock at $55 per share. Chrysler's Board of
Directors stated that Chrysler is not for sale and that the letter received
from Tracinda would be reviewed by Chrysler's Board of Directors and with
Chrysler's financial and legal advisors.
9
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Financial Condition
The Company's primary objective is to provide financing support for automotive
dealers and retail customers of Chrysler's products.
The Company's receivables managed and total assets increased from year-end
1994 levels reflecting growth in automotive volume. The Company's portfolio of
receivables managed, which includes receivables owned and receivables serviced
for others, totaled $34.9 billion at March 31, 1995, compared to $32.9 billion
at December 31, 1994, and $29.8 billion at March 31, 1994. The increase in
receivables managed reflects higher volumes of automotive receivables
acquired, partially offset by continued liquidations of nonautomotive finance
receivables.
Receivables serviced for others primarily represent sold receivables which the
Company services for a fee. Receivables serviced for others totaled $21.7
billion at March 31, 1995, compared to $20.1 billion at December 31, 1994, and
$20.6 billion at March 31, 1994.
Total assets at March 31, 1995 were $17.7 billion, compared to $16.6 billion
at December 31, 1994, and $15.2 billion a year ago. Total debt outstanding at
March 31, 1995 was $11.9 billion, compared to $10.7 billion at December 31,
1994 and $9.3 billion a year ago. The Company's debt-to-equity ratio was 3.6
to 1 at March 31, 1995 compared to 3.3 to 1 at December 31, 1994, and 2.9 to 1
at March 31, 1994, reflecting increased use of term debt and commercial paper
to fund the Company's asset growth.
The Company's total allowance for credit losses, including receivables sold
subject to limited recourse provisions, totaled $551 million, $512 million,
and $511 million at March 31, 1995, December 31, 1994, and March 31, 1994,
respectively. The total allowance for credit losses as a percentage of related
finance receivables outstanding was 1.69 percent, 1.66 percent, and 1.77
percent at March 31, 1995, December 31, 1994, and March 31, 1994,
respectively. The increase in credit loss reserve levels from the comparable
period a year ago is a result of higher levels of automotive financing.
Results of Operations
Earnings before taxes were $109 million for the three months ended March 31,
1995, which compares to $75 million for the first quarter of 1994. The
increase in first quarter 1995 earnings before taxes resulted from higher
levels of automotive financing and lower bank costs partially offset by
continuing interest rate pressure on automotive consumer lending margins.
The Company's net earnings were $69 million for the three months ended March
31, 1995 compared to $47 million in the first quarter of 1994.
10
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS - CONTINUED
Results of Operations (continued)
Automotive financing volume totaled $20.5 billion in the first quarter of
1995, compared to $17.1 billion in the first quarter of 1994. Financing
support provided in the United States for new Chrysler vehicle retail
deliveries (including fleet), and wholesale vehicle sales to dealers and the
number of vehicles financed for the three months ended March 31, 1995, and
1994 respectively, were as follows:
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1995 1994
---- ----
<S> <C> <C>
United States Penetration:
Retail 30% 24%
Wholesale 72% 71%
Number of New Chrysler Vehicles Financed
in the United States (in thousands):
Retail 159 137
Wholesale 427 423
</TABLE>
Net margin totaled $170 million for the three months ended March 31, 1995,
compared to $147 million for the first quarter of 1994. Automotive financing
income totaled $342 million for the three months ended March 31, 1995 compared
to $256 million in the first quarter of 1994 reflecting higher levels of
automotive financing.
Interest income from the Company's nonautomotive financing operations declined
to $41 million in the first quarter of 1995 from $76 million in the first
quarter of 1994. These nonautomotive operations had finance receivables
outstanding of $2.3 billion at March 31, 1995 compared with $2.7 billion at
March 31, 1994. The decline in nonautomotive interest income and receivables
outstanding is a result of the continued downsizing of the Company's
nonautomotive portfolios.
Service fee income was $69 million for the three months ended March 31, 1995,
compared to $61 million for the comparable period a year ago. The increase in
service fee income is due to higher levels of sold receivables which the
Company continues to service.
Investment and other income totaled $71 million for the three months ended
March 31, 1995, compared to $58 million for the same period in 1994. The
increase in investment and other income was primarily due to a $12 million
gain on the sale of a nonautomotive entity.
11
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS - CONTINUED
Results of Operations (continued)
A comparison of the borrowing costs is shown in the following table:
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1995 1994
---- ----
(dollars in millions)
<S> <C> <C>
Interest expense $ 213 $ 185
Average borrowings $11,135 $ 8,844
Average effective cost of borrowings 7.9% 8.4%
</TABLE>
The improvement in the average effective borrowing costs from March 31, 1994
to March 31, 1995 reflects lower bank facility costs and higher levels of
commercial paper.
Operating expenses for the three months ended March 31, 1995 totaled $95
million, compared to $118 million for the comparable period of 1994. The
decline in operating expenses from the first quarter of 1995 to the first
quarter of 1994 reflects the downsizing of nonautomotive operations.
Net credit loss experience, including net losses on receivables sold subject
to limited recourse provisions, was $52 million for the three months ended
March 31, 1995 compared with $30 million for the three months ended March 31,
1994. Net credit losses to average receivables outstanding was .60% and .38%
for the three months ended March 31, 1995 and 1994, respectively.
The Company paid $63 million in dividends to Chrysler in the first quarter of
1995. There were no dividends paid to Chrysler in the first quarter of 1994.
The Company's Mexican subsidiary, Chrysler Comercial S.A. de C.V. ("Chrysler
Comercial") had total assets of $289 million and $544 million at March 31,
1995 and 1994, respectively. The economic uncertainty in Mexico following
the devaluation of the peso in 1994 may have a negative impact on Chrysler
Comercial's retail and wholesale lending activities. The Company is unable
to determine the impact, if any, on its results of operations or financial
position at this time.
Liquidity and Capital Resources
At March 31, 1995, the Company's credit facilities consist of $4.6 billion of
U.S. and $.6 billion of Canadian credit facilities which expire in May 1998.
The Company's automotive receivables sale agreements consist of a $1.5 billion
U.S. agreement (of which $.5 billion expires in May 1995, and $1.0 billion
expires in May 1998) and a $.2 billion Canadian agreement (of which $.1
billion expires in May 1995, and $.1 billion expires in May 1998). As of March
31, 1995, no amounts were outstanding under the Company's revolving credit or
receivable sale agreements.
During the first quarter of 1995, the Company began the process of negotiating
new global revolving credit facilities to replace its U.S. and Canadian
revolving credit facilities and receivable sale agreements.
Receivable sales continued to be a significant source of funding in the first
quarter of 1995 as the Company realized $1.1 billion of net proceeds from the
sale of
12
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS - CONTINUED
Liquidity and Capital Resources (continued)
automotive retail receivables, compared to $1.7 billion of net proceeds in the
first quarter of 1994. In addition, revolving wholesale receivable sale
arrangements provided funding which aggregated $5.8 billion and $4.6 billion
at March 31, 1995 and 1994, respectively.
At March 31, 1995, the Company had contractual debt maturities of $4.9 billion
during the remainder of 1995 (including $4.1 billion of short-term notes),
$1.6 billion in 1996.
The Company believes that cash provided by operations, receivable sales,
access to term debt markets, and issuance of commercial paper will provide
sufficient liquidity to meet its funding requirements.
Subsequent Event
On April 12, 1995, Tracinda Corporation ("Tracinda"), which owns approximately
10 percent of the outstanding common stock of Chrysler Corporation
("Chrysler"), sent Chrysler a letter proposing to acquire the remaining 90
percent of Chrysler's common stock at $55 per share. Chrysler's Board of
Directors stated that Chrysler is not for sale and that the letter received
from Tracinda would be reviewed by Chrysler's Board of Directors and with
Chrysler's financial and legal advisors.
New Accounting Standards
Effective January 1, 1995 the Company adopted Statement of Financial
Accounting Standards ("SFAS") No. 114, "Accounting by Creditors for Impairment
of a Loan," and SFAS No. 118, "Accounting by Creditors for Impairment of a
Loan - Income Recognition and Disclosure." The implementation of these
standards did not have a material effect on the Company's results of operations
or financial position.
Review by Independent Public Accountants
Deloitte & Touche LLP, the Company's independent public accountants, performed
a review of the financial statements for the three months ended March 31, 1995
and 1994 in accordance with the standards for such reviews established by the
American Institute of Certified Public Accountants. The review did not
constitute an audit, and accordingly, Deloitte & Touche LLP did not express an
opinion on the aforementioned data.
13
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
PART II. OTHER INFORMATION
ITEM 2. CHANGES IN SECURITIES
(Omitted in accordance with general instruction H)
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
(Omitted in accordance with general instruction H)
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
(Omitted in accordance with general instruction H)
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) The following exhibits are filed as a part of this report.
Exhibit No.
3-A Copy of the Restated Articles of Incorporation of Chrysler
Financial Corporation as adopted and filed with the Corporation
Division of the Michigan Department of Treasury on October 1,
1971. Filed as Exhibit 3-A to Registration No. 2-43097 of Chrysler
Financial Corporation, and incorporated herein by reference.
3-B Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 26, 1975, April 23,
1985 and June 21, 1985, respectively. Filed as Exhibit 3-B to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1985, and incorporated herein by
reference.
3-C Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on August 12, 1987 and August
14, 1987, respectively. Filed as Exhibit 3 to the Quarterly Report
of Chrysler Financial Corporation on Form 10-Q for the quarter
ended September 30, 1987, and incorporated herein by reference.
3-D Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 11, 1987 and January
25, 1988, respectively. Filed as Exhibit 3-D to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1987, and incorporated herein by reference.
3-E Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on June 13, 1989 and June 23,
1989, respectively. Filed as Exhibit 3-E to the Quarterly Report
of Chrysler Financial Corporation on Form 10-Q for the quarter
ended June 30, 1989, and incorporated herein by reference.
14
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
3-F Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on September 13, 1989, January
31, 1990 and March 8, 1990, respectively. Filed as Exhibit 3-E to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1989, and incorporated herein by
reference.
3-G Copy of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on March 29, 1990 and May 10,
1990. Filed as Exhibit 3-G to the Quarterly Report of Chrysler
Financial Corporation on Form 10-Q for the quarter ended March 31,
1990, and incorporated herein by reference.
3-H Copy of the By-Laws of Chrysler Financial Corporation as amended
to March 2, 1987. Filed as Exhibit 3-C to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1986, and incorporated herein by reference.
3-I Copy of the By-Laws of Chrysler Financial Corporation as amended
to August 1, 1990. Filed as Exhibit 3-I to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1990, and incorporated herein by reference.
3-J Copy of By-Laws of Chrysler Financial Corporation as amended to
January 1, 1992, and presently in effect. Filed as Exhibit 3-H to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1991, and incorporated herein by
reference.
4-A Copy of Indenture, dated as of June 15, 1984, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company, as
Trustee, United States Trust Company of New York, as successor
Trustee, related to Senior Debt Securities of Chrysler Financial
Corporation. Filed as Exhibit (1) to the Current Report of
Chrysler Financial Corporation on Form 8-K, dated June 26, 1984,
and incorporated herein by reference.
4-B Copy of Indenture, dated as of September 15, 1986, between
Chrysler Financial Corporation and Manufacturers Hanover Trust
Company, Trustee, United States Trust Company of New York, as
successor Trustee, related to Chrysler Financial Corporation
Senior Debt Securities. Filed as Exhibit 4-E to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended September 30, 1986, and incorporated herein by
reference.
4-C Copy of Amended and Restated Indenture, dated as of September 15,
1986, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-H to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q
for the quarter ended June 30, 1987, and incorporated herein by
reference.
15
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
4-D Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
Trustee, United States Trust Company of New York, as successor
Trustee, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-A to Registration No. 33-23479 of
Chrysler Financial Corporation, and incorporated herein by
reference.
4-E Copy of First Supplemental Indenture, dated as of March 1, 1988,
between Chrysler Financial Corporation and Manufacturers Hanover
Trust Company, Trustee, United States Trust Company of New York,
as successor Trustee, to the Indenture, dated as of February 15,
1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-L to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1987, and incorporated herein by
reference.
4-F Copy of Second Supplemental Indenture, dated as of September 7,
1990, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-M to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q
for the quarter ended September 30, 1990, and incorporated herein
by reference.
4-G Copy of Third Supplemental Indenture, dated as of May 4, 1992,
between Chrysler Financial Corporation and United States Trust
Company of New York, as successor Trustee, to the Indenture, dated
as of February 15, 1988 between such parties, relating to Chrysler
Financial Corporation Senior Debt Securities. Filed as Exhibit 4-N
to the Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended June 30, 1992, and incorporated herein
by reference.
4-H Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and IBJ Schroder Bank & Trust Company,
Trustee, related to Chrysler Financial Corporation Subordinated
Debt Securities. Filed as Exhibit 4-B to Registration No. 33-23479
of Chrysler Financial Corporation, and incorporated herein by
reference.
4-I Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and IBJ Schroder Bank
& Trust Company, Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Subordinated Debt Securities. Filed on September 13,
1989 as Exhibit 4-N to the Current Report of Chrysler Financial
Corporation on Form 8-K dated September 1, 1989, and incorporated
herein by reference.
4-J Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Irving Trust Company, Trustee, related
to Chrysler Financial Corporation Junior Subordinated Debt
Securities. Filed as Exhibit 4-C to Registration No. 33-23479 of
Chrysler Financial Corporation, and incorporated herein by
reference.
16
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
4-K Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and Irving Trust
Company, Trustee, to the Indenture, dated as of February 15, 1988,
between such parties, related to Chrysler Financial Corporation
Junior Subordinated Debt Securities. Filed on September 13, 1989
as Exhibit 4-O to the Current Report of Chrysler Financial
Corporation on Form 8-K dated September 1, 1989, and incorporated
herein by reference.
10-A Copy of Income Maintenance Agreement, made December 20, 1968,
among Chrysler Financial Corporation, Chrysler Corporation and
Chrysler Motors Corporation. Filed as Exhibit 13-D to Registration
Statement No. 2-32037 of Chrysler Financial Corporation, and
incorporated herein by reference.
10-B Copy of Agreement, made April 19, 1971, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
amending the Income Maintenance Agreement among such parties.
Filed as Exhibit 13-B to Registration Statement No. 2-40110 of
Chrysler Financial Corporation and Chrysler Corporation, and
incorporated herein by reference.
10-C Copy of Agreement, made May 29, 1973, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
further amending the Income Maintenance Agreement among such
parties. Filed as Exhibit 5-C to Registration Statement No.
2-49615 of Chrysler Financial Corporation, and incorporated herein
by reference.
10-D Copy of Agreement, made as of July 1, 1975, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler Motors
Corporation, further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit D to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1975, and incorporated herein by reference.
10-E Copy of Agreement, made June 4, 1976, between Chrysler Financial
Corporation and Chrysler Corporation further amending the Income
Maintenance Agreement between such parties. Filed as Exhibit 5-H
to Registration Statement No. 2-56398 of Chrysler Financial
Corporation, and incorporated herein by reference.
10-F Copy of Agreement, made March 27, 1986, between Chrysler Financial
Corporation, Chrysler Holding Corporation (now known as Chrysler
Corporation) and Chrysler Corporation (now known as Chrysler
Motors Corporation) further amending the Income Maintenance
Agreement among such parties. Filed as Exhibit 10-F to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1986, and incorporated herein by reference.
10-G Copy of Revolving Credit Agreement, dated as of May 23, 1994,
among Chrysler Financial Corporation, Chemical Bank, as Agent, the
several commercial banks party thereto as Co-Agents, and Chemical
Securities Inc., as Arranger. Filed as Exhibit 10-A to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
17
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-H Copy of Fourth Amended and Restated Commitment Transfer Agreement,
dated as of May 23, 1994, among Chrysler Financial Corporation,
the several financial institutions parties thereto and Chemical
Bank, as agent. Filed as exhibit 10-B to the Current Report on
Form 8-K of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-I Copy of Guarantee Agreement, dated as of May 23, 1994, made by
Chrysler Financial Corporation to and in favor of Guaranteed
Parties as defined therein. Filed as Exhibit 10-C to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-J Copy of Revolving Credit Agreement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as agent,
Canadian Imperial Bank of Commerce and Bank of Nova Scotia, as
co-agents, and the Lenders parties thereto. Filed as Exhibit 10-D
to the Current Report on Form 8-K of Chrysler Financial
Corporation dated May 23, 1994, and incorporated herein by
reference.
10-K Copy of Short Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, Chemical Bank, as agent, the several
commercial banks parties thereto, and Chemical Bank Agency
Services Corporation, as Administrative Agent. Filed as Exhibit
10-E to the Current Report on Form 8-K of Chrysler Financial
Corporation dated May 23, 1994, and incorporated herein by
reference.
10-L Copy of Short Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed
as Exhibit 10-F to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-M Copy of Short Term Bank Supplement, dated as of May 23, 1994,
among U.S. Auto Receivables Company, Chrysler Credit Corporation
and Manufacturers and Traders Trust Company, as Trustee, to the
Pooling and Servicing Agreement dated as of May 31, 1991 with
Respect to CARCO Auto Loan Master Trust Short Term Bank Series.
Filed as Exhibit 10-G to the Current Report on Form 8-K of
Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-N Copy of Long Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, the several commercial banks parties thereto,
Chemical Bank, as Agent, and Chemical Bank Agency Services
Corporation, as Administrative Agent. Filed as Exhibit 10-H to the
Current Report on Form 8-K of Chrysler Financial Corporation dated
May 23, 1994, and incorporated herein by reference.
18
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-O Copy of Long Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed
as Exhibit 10-I to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-P Copy of Long Term Bank Supplement, dated as of May 23, 1994, among
U.S. Auto Receivables Company, Chrysler Credit Corporation and
Manufacturers and Traders Trust Company, as Trustee, to the
Pooling and Servicing Agreement dated as of May 31, 1991 with
respect to CARCO Auto Loan Master Trust Bank Series. Filed as
Exhibit 10-J to the Current Report on Form 8- K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-Q Copy of Short Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-K to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-R Copy of Short Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-L to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-S Copy of Long Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-M to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-T Copy of Long Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-N to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-U Copy of Bank Series 1994-1 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-O to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
19
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-V Copy of Bank Series 1994-2 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-P to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-W Copy of Amended and Restated Trust Agreement, dated as of April 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-X Copy of Indenture, dated as of April 1, 1993, between Premier Auto
Trust 1993-2 and Bankers Trust Company, as Indenture Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.2 of the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-Y Copy of Amended and Restated Trust Agreement, dated as of June 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-3. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-3 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-Z Copy of Indenture, dated as of June 1, 1993, between Premier Auto
Trust 1993-3 and Bankers Trust Company, as Indenture Trustee.
Filed as Exhibit 4.2 to the Quarterly Report of Premier Auto Trust
1993-3 on Form 10-Q for the quarter ended June 30, 1993, and
incorporated herein by reference.
10-AA Copy of Series 1993-1 Supplement, dated as of February 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust,
Series 1993-1. Filed as Exhibit 3 to the Trust's Registration
Statement on Form 8-A dated March 15, 1993, and incorporated
herein by reference.
10-BB Copy of Receivables Purchase Agreement, made as of April 7, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Association Assets Acquisition Inc., with respect to CARS
1993-1. Filed as Exhibit 10-OOOO to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-CC Copy of Receivables Purchase Agreement, made as of June 29, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Associated Assets Acquisition Inc., with respect to CARS
1993-2. Filed as Exhibit 10-PPPP to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
20
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-DD Copy of Pooling and Servicing Agreement, dated as of August 1,
1993, among Auto Receivables Corporation, Chrysler Credit Canada
Ltd., Montreal Trust Company of Canada and Chrysler Financial
Corporation, with respect to CARCO 1993-1. Filed as Exhibit
10-QQQQ to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-EE Copy of Standard Terms and Conditions of Agreement, dated as of
August 1, 1993, among Auto Receivables Corporation, Chrysler
Credit Canada Ltd. and Chrysler Financial Corporation, with
respect to CARCO 1993-1. Filed as Exhibit 10-RRRR to the Quarterly
Report on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
10-FF Copy of Purchase Agreement, dated as of August 1, 1993, between
Chrysler Credit Canada Ltd., and Auto Receivables Corporation,
with respect to CARCO 1993-1. Filed as Exhibit 10-SSSS to the
Quarterly Report on Form 10-Q of Chrysler Financial Corporation
for the quarter ended September 30, 1993, and incorporated herein
by reference.
10-GG Copy of Asset Purchase Agreement, dated as of July 31, 1993,
between Chrysler Rail Transportation Corporation and General
Electric Railcar Leasing Services Corporation. Filed as Exhibit
10-WWWW to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-HH Copy of Amended and Restated Loan Agreement, dated as of June 1,
1993, between Chrysler Realty Corporation and Chrysler Credit
Corporation. Filed as Exhibit 10-XXXX to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-II Copy of Origination and Servicing Agreement, dated as of June 4,
1993, among Chrysler Leaserve, Inc., General Electric Capital Auto
Lease, Inc., Chrysler Credit Corporation and Chrysler Financial
Corporation. Filed as Exhibit 10-ZZZZ to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-JJ Copy of Amended and Restated Trust Agreement, dated as of
September 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Trustee, with respect to Premier Auto Trust 1993-5. Filed as
Exhibit 4.1 to the Quarterly Report of Premier Auto Trust 1993-5
on Form 10-Q for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-KK Copy of Indenture, dated as of September 1, 1993, between Premier
Auto Trust 1993-5 and Bankers Trust Company, as Indenture Trustee,
with respect to Premier Auto Trust 1993-5. Filed as Exhibit 4.2 to
the Quarterly Report of Premier Auto Trust 1993-5 on Form 10-Q for
the quarter ended September 30, 1993, and incorporated herein by
reference.
21
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-LL Copy of Asset Purchase Agreement, dated as of October 29, 1993,
between Marine Asset Management Corporation and Trico Marine
Assets, Inc.. Filed as Exhibit 10-CCCCC to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-MM Copy of Asset Purchase Agreement, dated as of December 3, 1993,
between Chrysler Rail Transportation Corporation and Allied
Railcar Company. Filed as Exhibit 1O-OOOO to the Annual Report on
Form 10-K of Chrysler Financial Corporation for the year ended
December 31, 1993, and incorporated herein by reference.
10-NN Copy of Secured Loan Purchase Agreement, dated as of December 15,
1993, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-PPPP to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the year
ended December 31, 1993, and incorporated herein by reference.
10-OO Copy of Series 1993-2 Supplement, dated as of November 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust,
Series 1993-2. Filed as Exhibit 3 to the Registration Statement on
Form 8-A of CARCO Auto Loan Master Trust dated December 6, 1993,
and incorporated herein by reference.
10-PP Copy of Amended and Restated Trust Agreement, dated as of November
1, 1993, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1993-6. Filed as
Exhibit 4-A to the Annual Report on Form 10-K of Premier Auto
Trust 1993-6 for the year ended December 31, 1993, and
incorporated herein by reference.
10-QQ Copy of Indenture, dated as of November 1, 1993, between Premier
Auto Trust 1993-6 and The Fuji Bank and Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1993-6.
Filed as Exhibit 4-B to the Annual Report on Form 10-K of Premier
Auto Trust 1993-6 for the year ended December 31, 1993, and
incorporated herein by reference.
10-RR Copy of Secured Loan Purchase Agreement, dated as of March 29,
1994, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-ZZZ to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended March 31, 1994, and incorporated herein by reference.
10-SS Copy of Amended and Restated Trust Agreement, dated as of February
1, 1994, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1994-1. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-1 for the quarter ended March 31, 1994, and
incorporated herein by reference.
22
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-TT Copy of Indenture, dated as of February 1, 1994, between Premier
Auto Trust 1994-1 and The Fuji Bank and Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1994-1.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-1 for the quarter ended March 31, 1994,
and incorporated herein by reference.
10-UU Copy of Secured Loan Purchase Agreement, dated as of July 6, 1994,
among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-BBBB to the Quarterly
Report on Form 10- Q of Chrysler Financial Corporation for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-VV Copy of Amended and Restated Trust Agreement, dated as of May 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1994-2. Filed as Exhibit 4.1 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1994-2 for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-WW Copy of Indenture, dated as of May 1, 1994, between Premier Auto
Trust 1994-2 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-2. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-2 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-XX Copy of Amended and Restated Trust Agreement, dated as of June 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank, Delaware, with respect to Premier
Auto Trust 1994-3. Filed as Exhibit 4.1 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1994-3 for the quarter ended June
30, 1994, and incorporated herein by reference.
10-YY Copy of Indenture, dated as of June 1, 1994, between Premier Auto
Trust 1994-3 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-3. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-3 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-ZZ Copy of Master Receivables Purchase Agreement among Chrysler
Credit Canada Ltd., CORE Trust and Chrysler Financial Corporation,
dated as of November 29, 1994. Filed as Exhibit 10-FFF to the
Annual Report on Form 10-K of Chrysler Financial Corporation for
the year ended December 31, 1994, and incorporated herein by
reference.
10-AAA Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 2,
1994, with respect to the sale of retail automotive receivables to
CORE Trust. Filed as Exhibit 10-GGG to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended December
31, 1994, and incorporated herein by reference.
23
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-BBB Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 22,
1994, with respect to the sale of retail automotive receivables to
CORE Trust. Filed as Exhibit 10-HHH to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended December
31, 1994, and incorporated herein by reference.
10-CCC Copy of Asset Purchase Agreement, dated as of December 14, 1994,
between Chrysler Capital Income Partners, L.P. and First Union
Commercial Corporation. Filed as Exhibit 10-III to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the year
ended December 31, 1994, and incorporated herein by reference.
10-DDD Copy of Receivables Purchase Agreement, dated as of December 15,
1994, among Chrysler Financial Corporation, Premier Auto
Receivables Company and ABN AMRO Bank, N.V. as Agent, with respect
to the sale of retail automotive receivables to Windmill Funding
Corporation. Filed as Exhibit 10-JJJ to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended December
31, 1994, and incorporated herein by reference.
10-EEE Copy of Pooling and Servicing Agreement, dated as of August 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to CARCO DEALRs Wholesale Trust
1990-A. Filed as Exhibit 10-HHH to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1990, and incorporated herein by reference.
10-FFF Copy of Amendment, dated as of September 23, 1991, to the Pooling
and Servicing Agreement, dated August 1, 1990, among Chrysler Auto
Receivables Company, as Seller, Chrysler Credit Corporation, as
Servicer, and The Fuji Bank and Trust Company, as Trustee, with
respect to CARCO DEALRs Wholesale Trust 1990-A. Filed as Exhibit
10-NN to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-GGG Copy of Receivables Purchase Agreement, dated as of August 16,
1990, between Chrysler Auto Receivables Company, as Buyer, and
Chrysler Credit Corporation, as Seller, with respect to CARCO
DEALRs Wholesale Trust 1990- A. Filed as Exhibit 10-III to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1990, and incorporated herein by
reference.
10-HHH Copy of Receivables Sales Agreement, dated as of August 16, 1990,
between Chrysler Financial Corporation and Chrysler Credit
Corporation, with respect to CARCO DEALRs Wholesale Trust 1990-A.
Filed as Exhibit 10-JJJ to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1990, and
incorporated herein by reference.
10-III Copy of Pooling and Servicing Agreement, dated as of October 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, related to Money Market Auto Loan Trust
1990-1. Filed as Exhibit 4-A to the Registration of Certain
Classes of Securities Report of Money Market Auto Loan Trust
1990-1 on Form 8-A, and incorporated herein by reference.
24
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-JJJ Copy of Amendment No. 1 to the Pooling and Servicing Agreement,
dated as of June 29, 1992, among Chrysler Auto Receivables
Company, as Seller, Chrysler Credit Corporation, as Servicer, and
The Fuji Bank and Trust Company, as Trustee, with respect to Money
Market Auto Loan Trust 1990-1. Filed as Exhibit 4-B to the
Quarterly Report of Money Market Auto Loan Trust 1990-1 on Form
10-Q for the quarter ended June 30, 1992, and incorporated herein
by reference.
10-KKK Copy of Pooling and Servicing Agreement, dated as of May 1, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-1. Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q
of Select Auto Receivables Trust 1991-1 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-LLL Copy of Pooling and Servicing Agreement, dated as of May 31, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust. Filed as Exhibit 2 to the CARCO Auto Loan Master Trust
Registration Statement on Form 8-A, and incorporated herein by
reference.
10-MMM Copy of Pooling and Servicing Agreement, dated as of September 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-3. Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q
of Select Auto Receivables Trust 1991-2 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-NNN Copy of Standard Terms and Conditions of Agreement, dated as of
September 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-3. Filed as Exhibit 4-B to
the Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-3 for the quarter ended September 30, 1991, and incorporated
herein by reference.
10-OOO Copy of Purchase Agreement, dated as of September 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-3.
Filed as Exhibit 4-C to the Quarterly Report on Form 10-Q of
Select Auto Receivables Trust 1991-3 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-PPP Copy of Pooling and Servicing Agreement, dated as of November 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-5. Filed as Exhibit 4-A to the Annual Report on Form 10-K of
Select Auto Receivables Trust 1991-5 for the year ended December
31, 1991, and incorporated herein by reference.
25
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-QQQ Copy of Standard Terms and Conditions of Agreement, dated as of
November 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-5. Filed as Exhibit 4-B to
the Annual Report on Form 10-K of Select Auto Receivables Trust
1991-5 for the year ended December 31, 1991, and incorporated
herein by reference.
10-RRR Copy of Purchase Agreement, dated as of November 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-5.
Filed as Exhibit 4-C to the Annual Report on Form 10-K of Select
Auto Receivables Trust 1991-5 for the year ended December 31,
1991, and incorporated herein by reference.
10-SSS Copy of Pooling and Servicing Agreement, dated as of December 1,
1991, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-15 Grantor Trust. Filed as Exhibit
10-PPPP to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-TTT Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-QQQQ to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-UUU Copy of Standard Terms and Conditions of Agreement, dated as of
January 1, 1992, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to CFC-16 Grantor Trust. Filed as Exhibit 10-RRRR to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1991, and incorporated herein by reference.
10-VVV Copy of Purchase Agreement, dated as of January 1, 1992 between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-SSSS to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-WWW Copy of Sale and Servicing Agreement, dated as of January 1, 1992,
among Premier Auto Trust 1992-1, as Issuer, U.S. Auto Receivables
Company, as Seller, and Chrysler Credit Corporation, as Servicer,
with respect to Premier Auto Trust 1992-1. Filed as Exhibit
10-QQQQ to the Registration Statement of Chrysler Financial
Corporation, on Form S-2 (Registration Statement No. 33-51302) on
November 24, 1992, and incorporated herein by reference.
10-XXX Copy of Trust Agreement, dated as of January 1, 1992, between U.S.
Auto Receivables Company and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1992-1. Filed as
Exhibit 10-RRRR to the Registration Statement of Chrysler
Financial Corporation on Form S-2 (Registration Statement No.
33-51302) on November 24, 1992, and incorporated herein by
reference.
26
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-YYY Copy of Purchase Agreement, dated as of January 1, 1992, between
Chrysler Financial Corporation, as Seller, and U.S. Auto
Receivables Company, as Purchaser, with respect to Premier Auto
Trust 1992-1. Filed as Exhibit 10-SSSS to the Registration
Statement of Chrysler Financial Corporation on Form S-2
(Registration Statement No. 33-51302) on November 24, 1992, and
incorporated herein by reference.
10-ZZZ Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Financial Corporation, as Master Servicer,
Chrysler First Business Credit Corporation, as Seller, and
Security Pacific National Bank, as Trustee, with respect to U.S.
Business Equity Loan Trust 1992-1. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of U.S. Business Equity Loan Trust
1992-1 for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-AAAA Copy of First Amendment, dated as of November 8, 1991, to the
Series 1991- 3 Supplement, dated as of June 30, 1991, among
Chrysler Credit Corporation, as Servicer, U.S. Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust Company,
as Trustee, with respect to CARCO Auto Loan Master Trust. Filed as
Exhibit 4-H to the Quarterly Report on Form 10-Q of CARCO Auto
Loan Master Trust for the quarter ended March 31, 1992, and
incorporated herein by reference.
10-BBBB Copy of Indenture, dated as of March 1, 1992, between
Premier Auto Trust 1992-2 and Bankers Trust Company, with respect
to Premier Auto Trust 1992- 2 Asset Backed Notes. Filed as Exhibit
4-A to the Quarterly Report on Form 10-Q of Premier Auto Trust
1992-2 for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-CCCC Copy of a 6-3/8% Asset Backed Note with respect to Premier
Auto Trust 1992-2 Asset Backed Notes. Filed as Exhibit 4-B to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-2 for the
quarter ended March 31, 1992, and incorporated herein by
reference.
10-DDDD Copy of Trust Agreement, dated as of March 1, 1992, between
U.S. Auto Receivables Company and Manufacturers Hanover Bank
(Delaware) with respect to Premier Auto Trust 1992-2 Asset Backed
Certificates. Filed as Exhibit 4-C to the Quarterly Report on Form
10-Q of Premier Auto Trust 1992-2 for the quarter ended March 31,
1992, and incorporated herein by reference.
10-EEEE Copy of Indenture, dated as of May 1, 1992, between Premier
Auto Trust 1992-3 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 3. Filed as Exhibit 4-A to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-3 for the quarter
ended June 30, 1992, and incorporated herein by reference.
10-FFFF Copy of a 5.90% Asset Backed Note with respect to Premier
Auto Trust 1992- 3. Filed as Exhibit 4-B to the Quarterly Report
on Form 10-Q of Premier Auto Trust 1992-3 for the quarter ended
June 30, 1992, and incorporated herein by reference.
27
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-GGGG Copy of Trust Agreement, dated as of April 1, 1992, as
amended and restated as of May 1, 1992, between Premier Auto
Receivables Company and Manufacturers Hanover Bank (Delaware) with
respect to Premier Auto Trust 1992-3. Filed as Exhibit 4-C to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-3 for the
quarter ended June 30, 1992, and incorporated herein by reference.
10-HHHH Copy of Receivables Purchase Agreement, dated as of April 15, 1992,
between Chrysler Credit Canada Ltd., Chrysler Financial
Corporation and Associated Assets Acquisition Inc. with respect to
Canadian Auto Receivables Securitization 1992-1. Filed as Exhibit
10-IIIII to the Registration Statement on Form S-2 of Chrysler
Financial Corporation (Registration Statement No. 33-51302) on
November 24, 1992, and incorporated herein by reference.
10-IIII Copy of Indenture, dated as of July 1, 1992, between Premier
Auto Trust 1992-4 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 4. Filed as Exhibit 4-A to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-4 for the quarter
ended September 30, 1992, and incorporated herein by reference.
10-JJJJ Copy of 5.05% Asset Backed Note with respect to Premier Auto
Trust 1992-4. Filed as Exhibit 4-B to the Quarterly Report on Form
10-Q of Premier Auto Trust 1992-4 for the quarter ended September
30, 1992, and incorporated herein by reference.
10-KKKK Copy of Trust Agreement, dated as of July 1, 1992, between
Premier Auto Receivables Company and Chemical Bank Delaware, with
respect to Premier Auto Trust 1992-4. Filed as Exhibit 4-C to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-4 for the
quarter ended September 30, 1992, and incorporated herein by
reference.
10-LLLL Copy of Receivables Purchase Agreement, dated as of August 18,
1992, between Chrysler Credit Ltd., Chrysler Financial Corporation
and Associated Assets Acquisition Inc. with respect to Canadian
Auto Receivables Securitization 1992-2. Filed as Exhibit 10-OOOOO
to the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-MMMM Copy of Indenture, dated as of September 1, 1992, between
Premier Auto Trust 1992-5 and Bankers Trust Company with respect
to Premier Auto Trust 1992-5. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-5 for the
quarter ended September 30, 1992, and incorporated herein by
reference.
10-NNNN Copy of a 4.55% Asset Backed Note with respect to Premier
Auto Trust 1992- 5. Filed as Exhibit 4-B to the Quarterly Report
on Form 10-Q of Premier Auto Trust 1992-5 for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-OOOO Copy of Trust Agreement, dated as of September 1, 1992,
between Premier Auto Receivables Company and Manufacturers Hanover
Bank (Delaware) with respect to Premier Auto Trust 1992-5. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1992-5 for the quarter ended September 30, 1992, and
incorporated herein by reference.
28
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-PPPP Copy of Series 1992-2 Supplement to the Pooling and
Servicing Agreement, dated as of October 1, 1992, among U.S. Auto
Receivables Company, as Seller, Chrysler Credit Corporation, as
Servicer, and Manufacturers and Traders Trust Company, as Trustee,
with respect to CARCO Auto Loan Master Trust, Series 1992-2. Filed
as Exhibit 3 to Form 8-A of CARCO Auto Loan Master Trust on
October 30, 1992, and incorporated herein by reference.
10-QQQQ Copy of Master Custodial and Servicing Agreement, dated as of
September 1, 1992 between Chrysler Credit Canada Ltd. and The
Royal Trust Company, as Custodian. Filed as Exhibit 10-TTTTT to
the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33- 51302) on November 24,
1992, and incorporated herein by reference.
10-RRRR Copy of Trust Indenture, dated as of September 1, 1992, among
Canadian Dealer Receivables Corporation and Montreal Trust Company
of Canada, as Trustee. Filed as Exhibit 10-UUUUU to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33- 51302) on November 24,
1992, and incorporated herein by reference.
10-SSSS Copy of Servicing Agreement, dated as of October 20, 1992, between
Chrysler Leaserve, Inc. (a subsidiary of General Electric Capital
Auto Lease, Inc.) and Chrysler Credit Corporation, with respect to
the sale of Gold Key Leases. Filed as Exhibit 10-YYYYY to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-TTTT Copy of First Amendment dated as of August 24, 1992 to the Series
1991-1 Supplement dated as of May 31, 1991, among U.S. Auto
Receivables Company ("USA"), as seller (the "Seller"), Chrysler
Credit Corporation, as servicer (the "Servicer") and Manufacturers
and Traders Trust Company, as trustee (the "Trustee"), to the
Pooling and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to USA on August 8,
1991, as amended by the First Amendment dated as of August 6,
1992, among the Seller, the Servicer and the Trustee, with respect
to CARCO Auto Loan Master Trust. Filed as Exhibit 4-M to the
Quarterly Report on Form 10-Q of CARCO Auto Loan Master Trust for
the quarter ended September 30, 1992, and incorporated herein by
reference.
10-UUUU Copy of Second Amendment dated as of August 24, 1992 to the Series
1991-3 Supplement dated as of June 30, 1991, among U.S. Auto
Receivables Company ("USA"), as seller (the "Seller"), Chrysler
Credit Corporation, as servicer (the "Servicer") and Manufacturers
and Traders Trust Company, as trustee (the "Trustee"), to the
Pooling and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to USA on August 8,
1991, as amended by the First Amendment dated as of August 6,
1992, among the Seller, the Servicer and the Trustee, with respect
to CARCO Auto Loan Master Trust. Filed as Exhibit 4-O to the
Quarterly Report on Form 10-Q of CARCO Auto Loan Master Trust for
the quarter ended September 30, 1992, and incorporated herein by
reference.
10-VVVV Copy of Sale and Servicing Agreement, dated as of November
1, 1992, among Premier Auto Receivables Company, as Seller,
Chrysler Credit Corporation, as Servicer, and Premier Auto Trust
1992-6, as Purchaser, with respect to Premier Auto Trust 1992-6.
Filed as Exhibit 10-PPPPPP to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1992, and incorporated herein by reference.
29
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-WWWW Copy of Trust Agreement, dated as of November 1, 1992, among
ML Asset Backed Corporation, Premier Auto Receivables Company and
Chemical Bank Delaware as Owner Trustee, with respect to Premier
Auto Trust 1992-6. Filed as Exhibit 10-QQQQQQ to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1992, and incorporated herein by reference.
10-XXXX Copy of Sale and Servicing Agreement, dated as of January 1,
1993, among Premier Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Premier Auto Trust 1993-1, as
Purchaser, with respect to Premier Auto Trust 1993-1. Filed as
Exhibit 10-RRRRRR to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-YYYY Copy of Trust Agreement, dated as of January 1, 1993, among
ML Asset Backed Corporation, Premier Auto Receivables Company and
Chemical Bank Delaware, as Owner Trustee, with respect to Premier
Auto Trust 1993-1. Filed as Exhibit 10-SSSSSS to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1992, and incorporated herein by reference.
10-ZZZZ Copy of Receivables Purchase Agreement, dated as of November
25, 1992, between Chrysler Credit Canada Ltd., Chrysler Financial
Corporation and Associated Assets Acquisitions Inc. with respect
to Canadian Auto Receivables Securitization 1992-3. Filed as
Exhibit 10-TTTTTT to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-AAAAA Copy of Purchase Agreement, dated as of January 25, 1993,
among Chrysler Credit Canada Ltd., Auto 1 Limited Partnership and
Chrysler Financial Corporation, with respect to Auto 1 Trust.
Filed as Exhibit 10-UUUUUU to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1992, and incorporated herein by reference.
10-BBBBB Copy of Master Lease Agreement, dated as of January 25,
1993, among Chrysler Credit Canada Ltd., Chrysler Canada Ltd. and
Auto 1 Limited Partnership, with respect to Auto 1 Trust. Filed as
Exhibit 10-VVVVVV to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-CCCCC Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1993, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1993-4. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1993-4 for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-DDDDD Copy of Indenture, dated as of August 1, 1993, between
Premier Auto Trust 1993-4 and Bankers Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1993-4. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1993-4 for the quarter ended September 30, 1993, and
incorporated herein by reference.
30
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
10-EEEEE Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1994, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1994-4. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-4 for the quarter ended September 30, 1994, and
incorporated herein by reference.
10-FFFFF Copy of Indenture, dated as of August 1, 1994, between
Premier Auto Trust 1994-4 and Bankers Trust Company, as Indenture
Trustee. Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q
of Premier Auto Trust 1994-4 for the quarter ended September 30,
1994, and incorporated herein by reference.
10-GGGGG Copy of Receivables Purchase Agreement, dated as of February
28, 1995, among Chrysler Financial Corporation, Premier Auto
Receivables Company and ABN AMRO Bank, N.V., with respect to the
sale of retail automotive receivables to Windmill Funding
Corporation.
10-HHHHH Copy of Series 1994-1 Supplement, dated as of September 30,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust, Series 1994-1. Filed as Exhibit 3 to the Registration
Statement on Form 8-A of CARCO Auto Loan Master Trust dated
November 23, 1994, and incorporated herein by reference.
10-IIIII Copy of Series 1994-2 Supplement, dated as of October 31,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust 1994-2. Filed as Exhibit 3 to the Registration Statement on
Form 8-A of CARCO Auto Loan Master Trust dated December 22, 1994,
and incorporated herein by reference.
10-JJJJJ Copy of Series 1994-3 Supplement, dated as of November 30,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust, Series 1994-3. Filed as Exhibit 4-W to the Annual Report on
Form 10-K of CARCO Auto Loan Master Trust for the year ended
December 31, 1994, and incorporated herein by reference.
10-KKKKK Copy of Series 1995-1 Supplement, dated as of December 31,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust, Series 1995-1. Filed as Exhibit 3 to the Registration
Statement on Form 8-A of CARCO Auto Loan Master Trust dated
January 19, 1995, and incorporated herein by reference.
31
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- --------------------------------------------
12-A Chrysler Financial Corporation and Subsidiaries Computations of
Ratios of Earnings to Fixed Charges.
12-B Chrysler Corporation Enterprise as a Whole Computations of Ratios
of Earnings to Fixed Charges and Preferred Stock Dividend
Requirements.
15-A Letter regarding unaudited interim financial information.
15-B Independent Accountants' Letter in lieu of Consent.
27 Financial Data Schedule.
32
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - CONTINUED
- ------- -------------------------------- ------------
Copies of instruments defining the rights of holders of long-term debt of
the registrant and its consolidated subsidiaries, other than the
instruments copies of which are filed with this report as Exhibit 4-A, 4-B,
4-C, 4-D, 4-E, 4-F, 4-G, 4-H, 4-I, 4-J, 4-K, 4-L, 4-M, 4-N, 4-O, and 4-P
thereto, have not been filed as exhibits to this report since the amount of
securities authorized under any one of such instruments does not exceed 10%
of the total assets of the registrant and its subsidiaries on a
consolidated basis. The registration agrees to furnish to the Commission a
copy of each such instrument upon request.
(b) The registrant filed the following reports on Form 8-K during the quarter
ended March 31, 1995.
Date of Report Date Filed Item Reported
January 17, 1995 January 17, 1994 5
January 17, 1995 January 24, 1995 5
Financial Statements Filed
Copy of the audited financial statements for Chrysler Financial Corporation
and subsidiaries for the quarter ended March 31, 1995, and the related
Independent Accountant's Report.
33
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
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 thereunto duly authorized.
Chrysler Financial Corporation
------------------------------
(Registrant)
Date: April 13, 1995 By: /s/ T. P. Dykstra
-----------------------------
T. P. Dykstra
Vice President & Controller
Principal Accounting Officer
34
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
3-A Copy of the Restated Articles of Incorporation of Chrysler
Financial Corporation as adopted and filed with the Corporation
Division of the Michigan Department of Treasury on October 1,
1971. Filed as Exhibit 3-A to Registration No. 2-43097 of Chrysler
Financial Corporation, and incorporated herein by reference.
3-B Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 26, 1975, April 23,
1985 and June 21, 1985, respectively. Filed as Exhibit 3-B to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1985, and incorporated herein by
reference.
3-C Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on August 12, 1987 and August
14, 1987, respectively. Filed as Exhibit 3 to the Quarterly Report
of Chrysler Financial Corporation on Form 10-Q for the quarter
ended September 30, 1987, and incorporated herein by reference.
3-D Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 11, 1987 and January
25, 1988, respectively. Filed as Exhibit 3-D to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1987, and incorporated herein by reference.
3-E Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on June 13, 1989 and June 23,
1989, respectively. Filed as Exhibit 3-E to the Quarterly Report
of Chrysler Financial Corporation on Form 10-Q for the quarter
ended June 30, 1989, and incorporated herein by reference.
3-F Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on September 13, 1989, January
31, 1990 and March 8, 1990, respectively. Filed as Exhibit 3-E to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1989, and incorporated herein by
reference.
3-G Copy of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on March 29, 1990 and May 10,
1990. Filed as Exhibit 3-G to the Quarterly Report of Chrysler
Financial Corporation on Form 10-Q for the quarter ended March 31,
1990, and incorporated herein by reference.
3-H Copy of the By-Laws of Chrysler Financial Corporation as amended
to March 2, 1987. Filed as Exhibit 3-C to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1986, and incorporated herein by reference.
E-1
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
3-I Copy of the By-Laws of Chrysler Financial Corporation as amended
to August 1, 1990. Filed as Exhibit 3-I to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1990, and incorporated herein by reference.
3-J Copy of By-Laws of Chrysler Financial Corporation as amended to
January 1, 1992, and presently in effect. Filed as Exhibit 3-H to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1991, and incorporated herein by
reference.
4-A Copy of Indenture, dated as of June 15, 1984, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company, as
Trustee, United States Trust Company of New York, as successor
Trustee, related to Senior Debt Securities of Chrysler Financial
Corporation. Filed as Exhibit (1) to the Current Report of
Chrysler Financial Corporation on Form 8-K, dated June 26, 1984,
and incorporated herein by reference.
4-B Copy of Indenture, dated as of September 15, 1986, between
Chrysler Financial Corporation and Manufacturers Hanover Trust
Company, Trustee, United States Trust Company of New York, as
successor Trustee, related to Chrysler Financial Corporation
Senior Debt Securities. Filed as Exhibit 4-E to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended September 30, 1986, and incorporated herein by
reference.
4-C Copy of Amended and Restated Indenture, dated as of September 15,
1986, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-H to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q
for the quarter ended June 30, 1987, and incorporated herein by
reference.
4-D Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
Trustee, United States Trust Company of New York, as successor
Trustee, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-A to Registration No. 33-23479 of
Chrysler Financial Corporation, and incorporated herein by
reference.
4-E Copy of First Supplemental Indenture, dated as of March 1, 1988,
between Chrysler Financial Corporation and Manufacturers Hanover
Trust Company, Trustee, United States Trust Company of New York,
as successor Trustee, to the Indenture, dated as of February 15,
1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-L to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1987, and incorporated herein by
reference.
E-2
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
4-F Copy of Second Supplemental Indenture, dated as of September 7,
1990, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-M to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q
for the quarter ended September 30, 1990, and incorporated herein
by reference.
4-G Copy of Third Supplemental Indenture, dated as of May 4, 1992,
between Chrysler Financial Corporation and United States Trust
Company of New York, as successor Trustee, to the Indenture, dated
as of February 15, 1988 between such parties, relating to Chrysler
Financial Corporation Senior Debt Securities. Filed as Exhibit 4-N
to the Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended June 30, 1992, and incorporated herein
by reference.
4-H Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and IBJ Schroder Bank & Trust Company,
Trustee, related to Chrysler Financial Corporation Subordinated
Debt Securities. Filed as Exhibit 4-B to Registration No. 33-23479
of Chrysler Financial Corporation, and incorporated herein by
reference.
4-I Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and IBJ Schroder Bank
& Trust Company, Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Subordinated Debt Securities. Filed on September 13,
1989 as Exhibit 4-N to the Current Report of Chrysler Financial
Corporation on Form 8-K dated September 1, 1989, and incorporated
herein by reference.
4-J Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Irving Trust Company, Trustee, related
to Chrysler Financial Corporation Junior Subordinated Debt
Securities. Filed as Exhibit 4-C to Registration No. 33-23479 of
Chrysler Financial Corporation, and incorporated herein by
reference.
4-K Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and Irving Trust
Company, Trustee, to the Indenture, dated as of February 15, 1988,
between such parties, related to Chrysler Financial Corporation
Junior Subordinated Debt Securities. Filed on September 13, 1989
as Exhibit 4-O to the Current Report of Chrysler Financial
Corporation on Form 8-K dated September 1, 1989, and incorporated
herein by reference.
10-A Copy of Income Maintenance Agreement, made December 20, 1968, among
Chrysler Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation. Filed as Exhibit 13-D to Registration
Statement No. 2-32037 of Chrysler Financial Corporation, and
incorporated herein by reference.
E-3
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-B Copy of Agreement, made April 19, 1971, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
amending the Income Maintenance Agreement among such parties.
Filed as Exhibit 13-B to Registration Statement No. 2-40110 of
Chrysler Financial Corporation and Chrysler Corporation, and
incorporated herein by reference.
10-C Copy of Agreement, made May 29, 1973, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
further amending the Income Maintenance Agreement among such
parties. Filed as Exhibit 5-C to Registration Statement No.
2-49615 of Chrysler Financial Corporation, and incorporated herein
by reference.
10-D Copy of Agreement, made as of July 1, 1975, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler Motors
Corporation, further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit D to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1975, and incorporated herein by reference.
10-E Copy of Agreement, made June 4, 1976, between Chrysler Financial
Corporation and Chrysler Corporation further amending the Income
Maintenance Agreement between such parties. Filed as Exhibit 5-H
to Registration Statement No. 2-56398 of Chrysler Financial
Corporation, and incorporated herein by reference.
10-F Copy of Agreement, made March 27, 1986, between Chrysler Financial
Corporation, Chrysler Holding Corporation (now known as Chrysler
Corporation) and Chrysler Corporation (now known as Chrysler
Motors Corporation) further amending the Income Maintenance
Agreement among such parties. Filed as Exhibit 10-F to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1986, and incorporated herein by reference.
10-G Copy of Revolving Credit Agreement, dated as of May 23, 1994,
among Chrysler Financial Corporation, Chemical Bank, as Agent, the
several commercial banks party thereto as Co-Agents, and Chemical
Securities Inc., as Arranger. Filed as Exhibit 10-A to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-H Copy of Fourth Amended and Restated Commitment Transfer Agreement,
dated as of May 23, 1994, among Chrysler Financial Corporation,
the several financial institutions parties thereto and Chemical
Bank, as agent. Filed as exhibit 10-B to the Current Report on
Form 8-K of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-I Copy of Guarantee Agreement, dated as of May 23, 1994, made by
Chrysler Financial Corporation to and in favor of Guaranteed
Parties as defined therein. Filed as Exhibit 10-C to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
E-4
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-J Copy of Revolving Credit Agreement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as agent,
Canadian Imperial Bank of Commerce and Bank of Nova Scotia, as
co-agents, and the Lenders parties thereto. Filed as Exhibit 10-D
to the Current Report on Form 8-K of Chrysler Financial
Corporation dated May 23, 1994, and incorporated herein by
reference.
10-K Copy of Short Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, Chemical Bank, as agent, the several
commercial banks parties thereto, and Chemical Bank Agency
Services Corporation, as Administrative Agent. Filed as Exhibit
10-E to the Current Report on Form 8-K of Chrysler Financial
Corporation dated May 23, 1994, and incorporated herein by
reference.
10-L Copy of Short Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed
as Exhibit 10-F to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-M Copy of Short Term Bank Supplement, dated as of May 23, 1994,
among U.S. Auto Receivables Company, Chrysler Credit Corporation
and Manufacturers and Traders Trust Company, as Trustee, to the
Pooling and Servicing Agreement dated as of May 31, 1991 with
Respect to CARCO Auto Loan Master Trust Short Term Bank Series.
Filed as Exhibit 10-G to the Current Report on Form 8-K of
Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-N Copy of Long Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, the several commercial banks parties thereto,
Chemical Bank, as Agent, and Chemical Bank Agency Services
Corporation, as Administrative Agent. Filed as Exhibit 10-H to the
Current Report on Form 8-K of Chrysler Financial Corporation dated
May 23, 1994, and incorporated herein by reference.
10-O Copy of Long Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed
as Exhibit 10-I to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
E-5
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-P Copy of Long Term Bank Supplement, dated as of May 23, 1994, among
U.S. Auto Receivables Company, Chrysler Credit Corporation and
Manufacturers and Traders Trust Company, as Trustee, to the
Pooling and Servicing Agreement dated as of May 31, 1991 with
respect to CARCO Auto Loan Master Trust Bank Series. Filed as
Exhibit 10-J to the Current Report on Form 8- K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-Q Copy of Short Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-K to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-R Copy of Short Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-L to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-S Copy of Long Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-M to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-T Copy of Long Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-N to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-U Copy of Bank Series 1994-1 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-O to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-V Copy of Bank Series 1994-2 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-P to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
E-6
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-W Copy of Amended and Restated Trust Agreement, dated as of April 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-X Copy of Indenture, dated as of April 1, 1993, between Premier Auto
Trust 1993-2 and Bankers Trust Company, as Indenture Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.2 of the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-Y Copy of Amended and Restated Trust Agreement, dated as of June 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-3. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-3 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-Z Copy of Indenture, dated as of June 1, 1993, between Premier Auto
Trust 1993-3 and Bankers Trust Company, as Indenture Trustee.
Filed as Exhibit 4.2 to the Quarterly Report of Premier Auto Trust
1993-3 on Form 10-Q for the quarter ended June 30, 1993, and
incorporated herein by reference.
10-AA Copy of Series 1993-1 Supplement, dated as of February 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust,
Series 1993-1. Filed as Exhibit 3 to the Trust's Registration
Statement on Form 8-A dated March 15, 1993, and incorporated
herein by reference.
10-BB Copy of Receivables Purchase Agreement, made as of April 7, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Association Assets Acquisition Inc., with respect to CARS
1993-1. Filed as Exhibit 10-OOOO to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-CC Copy of Receivables Purchase Agreement, made as of June 29, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Associated Assets Acquisition Inc., with respect to CARS
1993-2. Filed as Exhibit 10-PPPP to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-DD Copy of Pooling and Servicing Agreement, dated as of August 1,
1993, among Auto Receivables Corporation, Chrysler Credit Canada
Ltd., Montreal Trust Company of Canada and Chrysler Financial
Corporation, with respect to CARCO 1993-1. Filed as Exhibit
10-QQQQ to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
E-7
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-EE Copy of Standard Terms and Conditions of Agreement, dated as of
August 1, 1993, among Auto Receivables Corporation, Chrysler
Credit Canada Ltd. and Chrysler Financial Corporation, with
respect to CARCO 1993-1. Filed as Exhibit 10-RRRR to the Quarterly
Report on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
10-FF Copy of Purchase Agreement, dated as of August 1, 1993, between
Chrysler Credit Canada Ltd., and Auto Receivables Corporation,
with respect to CARCO 1993-1. Filed as Exhibit 10-SSSS to the
Quarterly Report on Form 10-Q of Chrysler Financial Corporation
for the quarter ended September 30, 1993, and incorporated herein
by reference.
10-GG Copy of Asset Purchase Agreement, dated as of July 31, 1993,
between Chrysler Rail Transportation Corporation and General
Electric Railcar Leasing Services Corporation. Filed as Exhibit
10-WWWW to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-HH Copy of Amended and Restated Loan Agreement, dated as of June 1,
1993, between Chrysler Realty Corporation and Chrysler Credit
Corporation. Filed as Exhibit 10-XXXX to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-II Copy of Origination and Servicing Agreement, dated as of June 4,
1993, among Chrysler Leaserve, Inc., General Electric Capital Auto
Lease, Inc., Chrysler Credit Corporation and Chrysler Financial
Corporation. Filed as Exhibit 10-ZZZZ to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-JJ Copy of Amended and Restated Trust Agreement, dated as of
September 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Trustee, with respect to Premier Auto Trust 1993-5. Filed as
Exhibit 4.1 to the Quarterly Report of Premier Auto Trust 1993-5
on Form 10-Q for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-KK Copy of Indenture, dated as of September 1, 1993, between Premier
Auto Trust 1993-5 and Bankers Trust Company, as Indenture Trustee,
with respect to Premier Auto Trust 1993-5. Filed as Exhibit 4.2 to
the Quarterly Report of Premier Auto Trust 1993-5 on Form 10-Q for
the quarter ended September 30, 1993, and incorporated herein by
reference.
10-LL Copy of Asset Purchase Agreement, dated as of October 29, 1993,
between Marine Asset Management Corporation and Trico Marine
Assets, Inc.. Filed as Exhibit 10-CCCCC to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
E-8
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-MM Copy of Asset Purchase Agreement, dated as of December 3, 1993,
between Chrysler Rail Transportation Corporation and Allied
Railcar Company. Filed as Exhibit 1O-OOOO to the Annual Report on
Form 10-K of Chrysler Financial Corporation for the year ended
December 31, 1993, and incorporated herein by reference.
10-NN Copy of Secured Loan Purchase Agreement, dated as of December 15,
1993, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-PPPP to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the year
ended December 31, 1993, and incorporated herein by reference.
10-OO Copy of Series 1993-2 Supplement, dated as of November 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust,
Series 1993-2. Filed as Exhibit 3 to the Registration Statement on
Form 8-A of CARCO Auto Loan Master Trust dated December 6, 1993,
and incorporated herein by reference.
10-PP Copy of Amended and Restated Trust Agreement, dated as of November
1, 1993, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1993-6. Filed as
Exhibit 4-A to the Annual Report on Form 10-K of Premier Auto
Trust 1993-6 for the year ended December 31, 1993, and
incorporated herein by reference.
10-QQ Copy of Indenture, dated as of November 1, 1993, between Premier
Auto Trust 1993-6 and The Fuji Bank and Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1993-6.
Filed as Exhibit 4-B to the Annual Report on Form 10-K of Premier
Auto Trust 1993-6 for the year ended December 31, 1993, and
incorporated herein by reference.
10-RR Copy of Secured Loan Purchase Agreement, dated as of March 29,
1994, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-ZZZ to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended March 31, 1994, and incorporated herein by reference.
10-SS Copy of Amended and Restated Trust Agreement, dated as of February
1, 1994, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1994-1. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-1 for the quarter ended March 31, 1994, and incorporated
herein by reference.
10-TT Copy of Indenture, dated as of February 1, 1994, between Premier
Auto Trust 1994-1 and The Fuji Bank and Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1994-1.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-1 for the quarter ended March 31, 1994,
and incorporated herein by reference.
E-9
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-UU Copy of Secured Loan Purchase Agreement, dated as of July 6, 1994,
among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-BBBB to the Quarterly
Report on Form 10- Q of Chrysler Financial Corporation for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-VV Copy of Amended and Restated Trust Agreement, dated as of May 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1994-2. Filed as Exhibit 4.1 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1994-2 for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-WW Copy of Indenture, dated as of May 1, 1994, between Premier Auto
Trust 1994-2 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-2. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-2 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-XX Copy of Amended and Restated Trust Agreement, dated as of June 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank, Delaware, with respect to Premier
Auto Trust 1994-3. Filed as Exhibit 4.1 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1994-3 for the quarter ended June
30, 1994, and incorporated herein by reference.
10-YY Copy of Indenture, dated as of June 1, 1994, between Premier Auto
Trust 1994-3 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-3. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-3 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-ZZ Copy of Master Receivables Purchase Agreement among Chrysler
Credit Canada Ltd., CORE Trust and Chrysler Financial Corporation,
dated as of November 29, 1994. Filed as Exhibit 10-FFF to the
Annual Report on Form 10-K of Chrysler Financial Corporation for
the year ended December 31, 1994, and incorporated herein by
reference.
10-AAA Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 2,
1994, with respect to the sale of retail automotive receivables to
CORE Trust. Filed as Exhibit 10-GGG to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended December
31, 1994, and incorporated herein by reference.
10-BBB Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 22,
1994, with respect to the sale of retail automotive receivables to
CORE Trust. Filed as Exhibit 10-HHH to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended December
31, 1994, and incorporated herein by reference.
E-10
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-CCC Copy of Asset Purchase Agreement, dated as of December 14, 1994,
between Chrysler Capital Income Partners, L.P. and First Union
Commercial Corporation. Filed as Exhibit 10-III to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the year
ended December 31, 1994, and incorporated herein by reference.
10-DDD Copy of Receivables Purchase Agreement, dated as of December 15,
1994, among Chrysler Financial Corporation, Premier Auto
Receivables Company and ABN AMRO Bank, N.V. as Agent, with respect
to the sale of retail automotive receivables to Windmill Funding
Corporation. Filed as Exhibit 10-JJJ to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended December
31, 1994, and incorporated herein by reference.
10-EEE Copy of Pooling and Servicing Agreement, dated as of August 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to CARCO DEALRs Wholesale Trust
1990-A. Filed as Exhibit 10-HHH to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1990, and incorporated herein by reference.
10-FFF Copy of Amendment, dated as of September 23, 1991, to the Pooling
and Servicing Agreement, dated August 1, 1990, among Chrysler Auto
Receivables Company, as Seller, Chrysler Credit Corporation, as
Servicer, and The Fuji Bank and Trust Company, as Trustee, with
respect to CARCO DEALRs Wholesale Trust 1990-A. Filed as Exhibit
10-NN to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-GGG Copy of Receivables Purchase Agreement, dated as of August 16,
1990, between Chrysler Auto Receivables Company, as Buyer, and
Chrysler Credit Corporation, as Seller, with respect to CARCO
DEALRs Wholesale Trust 1990- A. Filed as Exhibit 10-III to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1990, and incorporated herein by
reference.
10-HHH Copy of Receivables Sales Agreement, dated as of August 16, 1990,
between Chrysler Financial Corporation and Chrysler Credit
Corporation, with respect to CARCO DEALRs Wholesale Trust 1990-A.
Filed as Exhibit 10-JJJ to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1990, and
incorporated herein by reference.
10-III Copy of Pooling and Servicing Agreement, dated as of October 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, related to Money Market Auto Loan Trust
1990-1. Filed as Exhibit 4-A to the Registration of Certain
Classes of Securities Report of Money Market Auto Loan Trust
1990-1 on Form 8-A, and incorporated herein by reference.
E-11
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-JJJ Copy of Amendment No. 1 to the Pooling and Servicing Agreement,
dated as of June 29, 1992, among Chrysler Auto Receivables
Company, as Seller, Chrysler Credit Corporation, as Servicer, and
The Fuji Bank and Trust Company, as Trustee, with respect to Money
Market Auto Loan Trust 1990-1. Filed as Exhibit 4-B to the
Quarterly Report of Money Market Auto Loan Trust 1990-1 on Form
10-Q for the quarter ended June 30, 1992, and incorporated herein
by reference.
10-KKK Copy of Pooling and Servicing Agreement, dated as of May 1, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-1. Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q
of Select Auto Receivables Trust 1991-1 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-LLL Copy of Pooling and Servicing Agreement, dated as of May 31, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust. Filed as Exhibit 2 to the CARCO Auto Loan Master Trust
Registration Statement on Form 8-A, and incorporated herein by
reference.
10-MMM Copy of Pooling and Servicing Agreement, dated as of September 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-3. Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q
of Select Auto Receivables Trust 1991-2 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-NNN Copy of Standard Terms and Conditions of Agreement, dated as of
September 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-3. Filed as Exhibit 4-B to
the Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-3 for the quarter ended September 30, 1991, and incorporated
herein by reference.
10-OOO Copy of Purchase Agreement, dated as of September 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-3.
Filed as Exhibit 4-C to the Quarterly Report on Form 10-Q of
Select Auto Receivables Trust 1991-3 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-PPP Copy of Pooling and Servicing Agreement, dated as of November 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-5. Filed as Exhibit 4-A to the Annual Report on Form 10-K of
Select Auto Receivables Trust 1991-5 for the year ended December
31, 1991, and incorporated herein by reference.
E-12
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-QQQ Copy of Standard Terms and Conditions of Agreement, dated as of
November 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-5. Filed as Exhibit 4-B to
the Annual Report on Form 10-K of Select Auto Receivables Trust
1991-5 for the year ended December 31, 1991, and incorporated
herein by reference.
10-RRR Copy of Purchase Agreement, dated as of November 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-5.
Filed as Exhibit 4-C to the Annual Report on Form 10-K of Select
Auto Receivables Trust 1991-5 for the year ended December 31,
1991, and incorporated herein by reference.
10-SSS Copy of Pooling and Servicing Agreement, dated as of December 1,
1991, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-15 Grantor Trust. Filed as Exhibit
10-PPPP to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-TTT Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-QQQQ to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-UUU Copy of Standard Terms and Conditions of Agreement, dated as of
January 1, 1992, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to CFC-16 Grantor Trust. Filed as Exhibit 10-RRRR to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1991, and incorporated herein by reference.
10-VVV Copy of Purchase Agreement, dated as of January 1, 1992 between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-SSSS to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-WWW Copy of Sale and Servicing Agreement, dated as of January 1, 1992,
among Premier Auto Trust 1992-1, as Issuer, U.S. Auto Receivables
Company, as Seller, and Chrysler Credit Corporation, as Servicer,
with respect to Premier Auto Trust 1992-1. Filed as Exhibit
10-QQQQ to the Registration Statement of Chrysler Financial
Corporation, on Form S-2 (Registration Statement No. 33-51302) on
November 24, 1992, and incorporated herein by reference.
E-13
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-XXX Copy of Trust Agreement, dated as of January 1, 1992, between U.S.
Auto Receivables Company and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1992-1. Filed as
Exhibit 10-RRRR to the Registration Statement of Chrysler
Financial Corporation on Form S-2 (Registration Statement No.
33-51302) on November 24, 1992, and incorporated herein by
reference.
10-YYY Copy of Purchase Agreement, dated as of January 1, 1992, between
Chrysler Financial Corporation, as Seller, and U.S. Auto
Receivables Company, as Purchaser, with respect to Premier Auto
Trust 1992-1. Filed as Exhibit 10-SSSS to the Registration
Statement of Chrysler Financial Corporation on Form S-2
(Registration Statement No. 33-51302) on November 24, 1992, and
incorporated herein by reference.
10-ZZZ Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Financial Corporation, as Master Servicer,
Chrysler First Business Credit Corporation, as Seller, and
Security Pacific National Bank, as Trustee, with respect to U.S.
Business Equity Loan Trust 1992-1. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of U.S. Business Equity Loan Trust
1992-1 for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-AAAA Copy of First Amendment, dated as of November 8, 1991, to the
Series 1991- 3 Supplement, dated as of June 30, 1991, among
Chrysler Credit Corporation, as Servicer, U.S. Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust Company,
as Trustee, with respect to CARCO Auto Loan Master Trust. Filed as
Exhibit 4-H to the Quarterly Report on Form 10-Q of CARCO Auto
Loan Master Trust for the quarter ended March 31, 1992, and
incorporated herein by reference.
10-BBBB Copy of Indenture, dated as of March 1, 1992, between Premier
Auto Trust 1992-2 and Bankers Trust Company, with respect to
Premier Auto Trust 1992- 2 Asset Backed Notes. Filed as Exhibit
4-A to the Quarterly Report on Form 10-Q of Premier Auto Trust
1992-2 for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-CCCC Copy of a 6-3/8% Asset Backed Note with respect to Premier Auto
Trust 1992-2 Asset Backed Notes. Filed as Exhibit 4-B to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-2 for the
quarter ended March 31, 1992, and incorporated herein by
reference.
10-DDDD Copy of Trust Agreement, dated as of March 1, 1992, between U.S.
Auto Receivables Company and Manufacturers Hanover Bank (Delaware)
with respect to Premier Auto Trust 1992-2 Asset Backed
Certificates. Filed as Exhibit 4-C to the Quarterly Report on Form
10-Q of Premier Auto Trust 1992-2 for the quarter ended March 31,
1992, and incorporated herein by reference.
10-EEEE Copy of Indenture, dated as of May 1, 1992, between Premier Auto
Trust 1992-3 and Bankers Trust Company with respect to Premier
Auto Trust 1992- 3. Filed as Exhibit 4-A to the Quarterly Report
on Form 10-Q of Premier Auto Trust 1992-3 for the quarter ended
June 30, 1992, and incorporated herein by reference.
E-14
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-FFFF Copy of a 5.90% Asset Backed Note with respect to Premier Auto
Trust 1992- 3. Filed as Exhibit 4-B to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1992-3 for the quarter ended June
30, 1992, and incorporated herein by reference.
10-GGGG Copy of Trust Agreement, dated as of April 1, 1992, as amended
and restated as of May 1, 1992, between Premier Auto Receivables
Company and Manufacturers Hanover Bank (Delaware) with respect to
Premier Auto Trust 1992-3. Filed as Exhibit 4-C to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-3 for the quarter
ended June 30, 1992, and incorporated herein by reference.
10-HHHH Copy of Receivables Purchase Agreement, dated as of April 15,
1992, between Chrysler Credit Canada Ltd., Chrysler Financial
Corporation and Associated Assets Acquisition Inc. with respect to
Canadian Auto Receivables Securitization 1992-1. Filed as Exhibit
10-IIIII to the Registration Statement on Form S-2 of Chrysler
Financial Corporation (Registration Statement No. 33-51302) on
November 24, 1992, and incorporated herein by reference.
10-IIII Copy of Indenture, dated as of July 1, 1992, between Premier
Auto Trust 1992-4 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 4. Filed as Exhibit 4-A to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-4 for the quarter
ended September 30, 1992, and incorporated herein by reference.
10-JJJJ Copy of 5.05% Asset Backed Note with respect to Premier Auto
Trust 1992-4. Filed as Exhibit 4-B to the Quarterly Report on Form
10-Q of Premier Auto Trust 1992-4 for the quarter ended September
30, 1992, and incorporated herein by reference.
10-KKKK Copy of Trust Agreement, dated as of July 1, 1992, between
Premier Auto Receivables Company and Chemical Bank Delaware, with
respect to Premier Auto Trust 1992-4. Filed as Exhibit 4-C to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-4 for the
quarter ended September 30, 1992, and incorporated herein by
reference.
10-LLLL Copy of Receivables Purchase Agreement, dated as of August 18,
1992, between Chrysler Credit Ltd., Chrysler Financial Corporation
and Associated Assets Acquisition Inc. with respect to Canadian
Auto Receivables Securitization 1992-2. Filed as Exhibit 10-OOOOO
to the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-MMMM Copy of Indenture, dated as of September 1, 1992, between
Premier Auto Trust 1992-5 and Bankers Trust Company with respect
to Premier Auto Trust 1992-5. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-5 for the
quarter ended September 30, 1992, and incorporated herein by
reference.
E-15
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-NNNN Copy of a 4.55% Asset Backed Note with respect to Premier Auto
Trust 1992- 5. Filed as Exhibit 4-B to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1992-5 for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-OOOO Copy of Trust Agreement, dated as of September 1, 1992, between
Premier Auto Receivables Company and Manufacturers Hanover Bank
(Delaware) with respect to Premier Auto Trust 1992-5. Filed as
Exhibit 4-C to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1992-5 for the quarter ended September 30, 1992, and
incorporated herein by reference.
10-PPPP Copy of Series 1992-2 Supplement to the Pooling and Servicing
Agreement, dated as of October 1, 1992, among U.S. Auto
Receivables Company, as Seller, Chrysler Credit Corporation, as
Servicer, and Manufacturers and Traders Trust Company, as Trustee,
with respect to CARCO Auto Loan Master Trust, Series 1992-2. Filed
as Exhibit 3 to Form 8-A of CARCO Auto Loan Master Trust on
October 30, 1992, and incorporated herein by reference.
10-QQQQ Copy of Master Custodial and Servicing Agreement, dated as of
September 1, 1992 between Chrysler Credit Canada Ltd. and The Royal
Trust Company, as Custodian. Filed as Exhibit 10-TTTTT to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33- 51302) on November 24,
1992, and incorporated herein by reference.
10-RRRR Copy of Trust Indenture, dated as of September 1, 1992, among
Canadian Dealer Receivables Corporation and Montreal Trust Company
of Canada, as Trustee. Filed as Exhibit 10-UUUUU to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33- 51302) on November 24,
1992, and incorporated herein by reference.
10-SSSS Copy of Servicing Agreement, dated as of October 20, 1992, between
Chrysler Leaserve, Inc. (a subsidiary of General Electric Capital
Auto Lease, Inc.) and Chrysler Credit Corporation, with respect to
the sale of Gold Key Leases. Filed as Exhibit 10-YYYYY to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-TTTT Copy of First Amendment dated as of August 24, 1992 to the Series
1991-1 Supplement dated as of May 31, 1991, among U.S. Auto
Receivables Company ("USA"), as seller (the "Seller"), Chrysler
Credit Corporation, as servicer (the "Servicer") and Manufacturers
and Traders Trust Company, as trustee (the "Trustee"), to the
Pooling and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to USA on August 8,
1991, as amended by the First Amendment dated as of August 6, 1992,
among the Seller, the Servicer and the Trustee, with respect to
CARCO Auto Loan Master Trust. Filed as Exhibit 4-M to the Quarterly
Report on Form 10-Q of CARCO Auto Loan Master Trust for the
quarter ended September 30, 1992, and incorporated herein by
reference.
E-16
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-UUUU Copy of Second Amendment dated as of August 24, 1992 to the Series
1991-3 Supplement dated as of June 30, 1991, among U.S. Auto
Receivables Company ("USA"), as seller (the "Seller"), Chrysler
Credit Corporation, as servicer (the "Servicer") and Manufacturers
and Traders Trust Company, as trustee (the "Trustee"), to the
Pooling and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to USA on August 8,
1991, as amended by the First Amendment dated as of August 6,
1992, among the Seller, the Servicer and the Trustee, with respect
to CARCO Auto Loan Master Trust. Filed as Exhibit 4-O to the
Quarterly Report on Form 10-Q of CARCO Auto Loan Master Trust for
the quarter ended September 30, 1992, and incorporated herein by
reference.
10-VVVV Copy of Sale and Servicing Agreement, dated as of November 1,
1992, among Premier Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Premier Auto Trust 1992-6, as
Purchaser, with respect to Premier Auto Trust 1992-6. Filed as
Exhibit 10-PPPPPP to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-WWWW Copy of Trust Agreement, dated as of November 1, 1992, among ML
Asset Backed Corporation, Premier Auto Receivables Company and
Chemical Bank Delaware as Owner Trustee, with respect to Premier
Auto Trust 1992-6. Filed as Exhibit 10-QQQQQQ to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1992, and incorporated herein by reference.
10-XXXX Copy of Sale and Servicing Agreement, dated as of January 1,
1993, among Premier Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Premier Auto Trust 1993-1, as
Purchaser, with respect to Premier Auto Trust 1993-1. Filed as
Exhibit 10-RRRRRR to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-YYYY Copy of Trust Agreement, dated as of January 1, 1993, among ML
Asset Backed Corporation, Premier Auto Receivables Company and
Chemical Bank Delaware, as Owner Trustee, with respect to Premier
Auto Trust 1993-1. Filed as Exhibit 10-SSSSSS to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1992, and incorporated herein by reference.
10-ZZZZ Copy of Receivables Purchase Agreement, dated as of November 25,
1992, between Chrysler Credit Canada Ltd., Chrysler Financial
Corporation and Associated Assets Acquisitions Inc. with respect
to Canadian Auto Receivables Securitization 1992-3. Filed as
Exhibit 10-TTTTTT to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-AAAAA Copy of Purchase Agreement, dated as of January 25, 1993, among
Chrysler Credit Canada Ltd., Auto 1 Limited Partnership and
Chrysler Financial Corporation, with respect to Auto 1 Trust.
Filed as Exhibit 10-UUUUUU to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1992, and incorporated herein by reference.
E-17
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-BBBBB Copy of Master Lease Agreement, dated as of January 25, 1993,
among Chrysler Credit Canada Ltd., Chrysler Canada Ltd. and Auto 1
Limited Partnership, with respect to Auto 1 Trust. Filed as
Exhibit 10-VVVVVV to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-CCCCC Copy of Amended and Restated Trust Agreement, dated as of August
1, 1993, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1993-4. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1993-4 for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-DDDDD Copy of Indenture, dated as of August 1, 1993, between Premier
Auto Trust 1993-4 and Bankers Trust Company, as Indenture Trustee,
with respect to Premier Auto Trust 1993-4. Filed as Exhibit 4.2 to
the Quarterly Report on Form 10-Q of Premier Auto Trust 1993-4 for
the quarter ended September 30, 1993, and incorporated herein by
reference.
10-EEEEE Copy of Amended and Restated Trust Agreement, dated as of August
1, 1994, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1994-4. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-4 for the quarter ended September 30, 1994, and
incorporated herein by reference.
10-FFFFF Copy of Indenture, dated as of August 1, 1994, between Premier
Auto Trust 1994-4 and Bankers Trust Company, as Indenture Trustee.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-4 for the quarter ended September 30,
1994, and incorporated herein by reference.
10-GGGGG Copy of Receivables Purchase Agreement, dated as of February 28,
1995, among Chrysler Financial Corporation, Premier Auto
Receivables Company and ABN AMRO Bank, N.V., with respect to the
sale of retail automotive receivables to Windmill Funding
Corporation.
10-HHHHH Copy of Series 1994-1 Supplement, dated as of September 30,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan Master
Trust, Series 1994-1. Filed as Exhibit 3 to the Registration
Statement on Form 8-A of CARCO Auto Loan Master Trust dated
November 23, 1994, and incorporated herein by reference.
10-IIIII Copy of Series 1994-2 Supplement, dated as of October 31, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust
1994-2. Filed as Exhibit 3 to the Registration Statement on Form
8-A of CARCO Auto Loan Master Trust dated December 22, 1994, and
incorporated herein by reference.
E-18
<PAGE>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT INDEX
Exhibit No.
10-JJJJJ Copy of Series 1994-3 Supplement, dated as of November 30, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust,
Series 1994-3. Filed as Exhibit 4-W to the Annual Report on Form
10-K of CARCO Auto Loan Master Trust for the year ended December
31, 1994, and incorporated herein by reference.
10-KKKKK Copy of Series 1995-1 Supplement, dated as of December 31, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust,
Series 1995-1. Filed as Exhibit 3 to the Registration Statement on
Form 8-A of CARCO Auto Loan Master Trust dated January 19, 1995,
and incorporated herein by reference.
12-A Chrysler Financial Corporation and Subsidiaries Computations of
Ratios of Earnings to Fixed Charges.
12-B Chrysler Corporation Enterprise as a Whole Computations of Ratios
of Earnings to Fixed Charges and Preferred Stock Dividend
Requirements.
15-A Letter regarding unaudited interim financial information.
15-B Independent Accountants' Letter in lieu of Consent.
27 Financial Data Schedule.
E-19
Exhibit 10-GGGGG
=============================================================================
RECEIVABLES PURCHASE AGREEMENT
Series 1995-1
dated as of February 28, 1995
AMONG
PREMIER AUTO RECEIVABLES COMPANY,
AS PREMIER,
CHRYSLER FINANCIAL CORPORATION,
AS THE PERFORMANCE GUARANTOR,
CHRYSLER CREDIT CORPORATION,
INDIVIDUALLY AND AS THE SERVICER,
AND
ABN AMRO BANK N.V.,
AS THE AGENT
=============================================================================
<PAGE>
TABLE OF CONTENTS
PAGE
ARTICLE I DEFINITIONS.................................................... 1
Section 1.1. Defined Terms...................................... 1
ARTICLE II TRANSFER, PAYMENTS AND SETTLEMENTS............................ 9
Section 2.1. Agreement to Purchase and Sell..................... 9
Section 2.2. Selection of Tranche Periods and
Tranche Rates.................................... 9
Section 2.3. Fees and Other Costs and Expenses.................. 9
Section 2.4. Payments........................................... 10
Section 2.5. Optional Repurchase................................ 10
Section 2.6. Reduction of Commitment Amount..................... 10
Section 2.7. Guarantee.......................................... 10
ARTICLE III REPRESENTATIONS AND WARRANTIES............................... 12
Section 3.1. Affiliated Entities' Representations
and Warranties................................... 12
Section 3.2. Receivables Representations and
Warranties....................................... 14
ARTICLE IV CONDITIONS PRECEDENT.......................................... 17
Section 4.1. Conditions to Closing.............................. 17
ARTICLE V COVENANTS...................................................... 18
Section 5.1. Affirmative Covenants of Premier................... 18
Section 5.2. Negative Covenants of Premier...................... 19
Section 5.3. Covenants of Premier, the Performance
Guarantor and the Servicer....................... 20
ARTICLE VI INDEMNIFICATION............................................... 21
Section 6.1. Indemnities........................................ 21
Section 6.2. Tax Indemnification and Characterization........... 23
Section 6.3. Increased Cost and Reduced Return.................. 23
Section 6.4. Other Costs and Expenses........................... 25
Section 6.5. Withholding Taxes.................................. 25
Section 6.6. Allocations........................................ 25
ARTICLE VII MISCELLANEOUS................................................ 26
Section 7.1. Term of Agreement.................................. 26
Section 7.2. Waivers; Amendments................................ 26
Section 7.3. Notices............................................ 26
Section 7.4. Governing Law; Submission to
Jurisdiction..................................... 27
Section 7.5. Further Assurances................................. 27
Section 7.6. Waiver of Confidentiality.......................... 27
Section 7.7. Confidentiality of Agreement....................... 27
Section 7.8. Limitation of Liability............................ 27
Section 7.9. Limitations Regarding Premier...................... 28
Section 7.10. Enforceability of Receivables...................... 28
Section 7.11. Third-Party Beneficiaries.......................... 28
Section 7.12. Agreement to Generic Provisions and
Standard Provisions.............................. 28
EXHIBITS DESCRIPTION
Exhibit A Location of Records
Exhibit B Form of Premier Opinion
Exhibit C Pricing Letter
SCHEDULES DESCRIPTION
Schedule I Generic Provisions
Schedule II Standard Provisions
Schedule III Receivables
<PAGE>
RECEIVABLES PURCHASE AGREEMENT
RECEIVABLES PURCHASE AGREEMENT, dated as of February 28, 1995, among the
Agent, the Performance Guarantor, CCC (individually and as the Servicer), and
Premier.
PRELIMINARY STATEMENTS
WHEREAS, the Agent desires to purchase a portfolio of receivables
arising in connection with automobile retail installment sale contracts
generated by Chrysler Credit Corporation in the ordinary course of business
and sold to Premier;
WHEREAS, Premier is willing to sell such receivables to the Purchasers
through the Agent; and
WHEREAS, the Servicer is willing to service such receivables pursuant to
the Servicing Agreement;
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. Defined Terms. The following terms shall have the meanings
set forth or referred to below:
"ABN AMRO" shall mean ABN AMRO Bank N.V., in its individual capacity and
not in its capacity as the Agent.
"Adverse Claim" shall mean, for any assets or properties of a Person, a
lien, security interest, charge, mortgage, pledge, hypothecation, assignment
or encumbrance, or any other right or claim, in, of or on such assets or
properties, except those in favor of the Agent.
"Affiliated Entities" shall mean CCC, the Performance Guarantor and
Premier.
"Agent" shall mean ABN AMRO Bank N.V., as agent for the Purchasers.
"Agent's Account" shall mean the Agent's account number 651101133950 at
ABN AMRO.
"Aggregate Commitment" shall mean an amount equal to Five Hundred
Million Dollars ($500,000,000), as such amount may be reduced pursuant to
Section 2.6.
"Aggregate Net Investment" shall mean the sum of the Investments for all
Purchasers.
"Aggregate Net Investment (Matured Value)" shall mean the sum of (i) the
sum of the Investments for all Purchasers other than Windmill, plus (ii) the
Matured Value of the Investment of Windmill.
"Aggregate Unpaids" shall mean an amount equal to the sum of (i) the
aggregate accrued and unpaid Discount with respect to all Tranche Periods,
plus (ii) the Aggregate Net Investment, plus (iii) all other amounts owed
(whether due or accrued) under the Transaction Documents by any Affiliated
Entity to any Person.
"Agreement" or "Purchase Agreement" shall mean this Receivables Purchase
Agreement.
"Amount Financed" shall mean, for any Receivable, the amount advanced
under the Receivable toward the purchase price of the Financed Vehicle and any
costs, exclusive of any amount allocable to the premium of force-placed
physical damage insurance covering the Financed Vehicle.
"Annual Percentage Rate" shall mean, for any Receivable, the annual rate
of finance charges stated in the related Contract.
"Assets" shall mean every Receivable and Related Security with respect
thereto, every Collection with respect thereto (after February 16, 1995 for
all simple interest Receivables and after January 31, 1995 for all precomputed
Receivables) and proceeds of any of the foregoing.
"Balloon Payments" shall mean, for any Receivable, the principal
component of any payment (including any balloon payments under the "Gold Key
Plus" program) which is not a level monthly payment (other than payments made
in the first or last month in the life of the Receivable which are minimally
different from the other level payments).
"Bankruptcy Event" shall mean, for any Person, that (i) such Person
shall make a general assignment for the benefit of creditors; or any
proceeding shall be instituted by or against such Person seeking to adjudicate
it bankrupt or insolvent, or seeking liquidation, winding up, reorganization,
arrangement, adjustment, protection, relief or composition of it or its debts
under any law relating to bankruptcy, insolvency or reorganization or relief
of debtors, or seeking the entry of an order for relief or the appointment of
a receiver, trustee or other similar official for it or any substantial part
of its property and, where such proceeding was instituted against such Person,
such proceeding shall not have been dismissed or stayed for a period of thirty
(30) days, or any of the actions sought in such proceeding (including the
entry of an order for relief against, or appointment of a receiver, trustee,
custodian or other similar official for, such Person or any substantial part
of such Person's property) shall occur or (ii) such Person shall take any
corporate action to authorize any of the actions set forth in clause (i) in
this definition.
"Business Day" shall mean any day (other than Saturday, Sunday and any
day on which banking institutions located in New York, New York or Chicago,
Illinois are authorized or required to close and excluding any day which is a
holiday on the Federal Reserve calendar) and, with respect to any matters
relating to eurodollar funding, a day on which dealings in Dollars are carried
on in the London interbank market.
"Cap" shall mean the interest rate cap agreement, dated as of February
28, 1995, by Chrysler Financial Corporation in favor of the Agent executed
under the Master Agreement, dated as of February 28, 1995, between Chrysler
Financial Corporation and the Agent.
"CCC" shall mean Chrysler Credit Corporation, a Delaware corporation.
"Collection" shall mean (i) for any Receivable, all payments made by, or
on behalf of, the related Obligor (including any Finance Charges paid but
excluding Balloon Payments), all Liquidation Proceeds and any amount the
Servicer is deemed to have received, or obligated to remit, pursuant to
Section 2.16 of the Servicing Agreement or otherwise, each with respect to
such Receivable and (ii) for all Receivables, the aggregate amount described
in clause (i) for all Receivables, amounts received under the Cap or any
successor or substitute therefore and interest paid on amounts deposited in,
or credited to, the Agent's Account.
"Contract" shall mean, for any Receivable, all retail installment sales
contracts identified and listed on Schedule III (which Schedule III may be in
the form of microfiche).
"Dealer" shall mean the dealer who sold a Financed Vehicle and who
originated, and then sold to CCC under an existing agreement between such
dealer and CCC, the related Receivable.
"Designated Financial Officer" shall mean, for any Person, any vice
president, controller, assistant controller, treasurer, assistant treasurer or
principal financial officer of such Person.
"Discount" shall mean, for any Tranche Period:
TR x TA x AD
------
Year
Where "TR" is equal to the Tranche Rate applicable to such Tranche Period;
"TA" is equal to the Dollar amount of the Investment allocated to such Tranche
Period; "AD" is equal to the actual number of days elapsed during such Tranche
Period; and "Year" is equal to the number three hundred sixty (360); provided,
however, that if such Tranche Rate is the Prime Rate such number shall be the
actual number of days in the applicable calendar year; and shall also mean the
Early Collection Fee (as defined in the Pricing Letter).
"Distribution Date": Refer to the Servicing Agreement.
"Dollar" and "$" shall mean lawful money of the United States of
America.
"Effective Date": Refer to Section 4.1.
"Federal Bankruptcy Code" shall mean the bankruptcy code of the United
States of America codified in Title 11 of the United States Code.
"Federal Funds Effective Rate" shall mean, for any period, a fluctuating
interest rate per annum equal, for each day during such period, to the
weighted average of the rates on overnight federal funds transactions with
members of the Federal Reserve System arranged by federal funds brokers, as
published for such day (or, if such day is not a Business Day, for the next
preceding Business Day) by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day which is a Business Day, the average of
the quotations at approximately 10:00 a.m. (Chicago time) for such day on
transactions received by ABN AMRO from three (3) federal funds brokers of
recognized standing selected by it.
"Fee Letter" shall mean the letter agreement, dated the date hereof,
among Premier, the Performance Guarantor, ABN AMRO and the other parties
thereto. For purposes of this Agreement and references to this Agreement, the
Fee Letter shall be a supplement to this Agreement.
"Finance Charges" shall mean, for any Contract, any finance, interest or
similar or other charges owing by an Obligor pursuant to such Contract
(excluding, however, all amounts described in the last sentence of Section
2.8(a) of the Servicing Agreement).
"Financed Vehicle" shall mean, for any Receivable, the automobile or
light-duty truck, together with all accessions thereto, securing the Obligor's
indebtedness under such Receivable.
"Funding Agreement" shall mean any agreement or instrument executed by
Windmill and executed by or in favor of any Windmill Funding Source and this
Agreement.
"Governmental Authority" shall mean any Federal, state, municipal or
other governmental department, commission, board, bureau, agency or
instrumentality, or any court or any arbitrator, in each case whether in the
USA or foreign.
"Indebtedness" shall mean, for any Person, such Person's (i) obligations
for borrowed money, (ii) obligations representing the deferred purchase price
of property (other than accounts payable arising in the ordinary course of
such Person's business on terms customary in the trade), (iii) obligations
(including leases), whether or not assumed, secured by a lien on, or payable
out of the proceeds or production from, property now or hereafter owned or
acquired by such Person, (iv) obligations which are evidenced by bonds,
debentures, notes, acceptances or other instruments, (v) capitalized lease
obligations and (vi) obligations pursuant to a guaranty.
"Indemnified Losses": Refer to Section 6.1.
"Investment" shall mean, for each Purchaser, the difference of (a) the
sum of (i) the portion of the Purchase Payment made by, or on behalf of, such
Purchaser, plus (ii) the aggregate amount of any payments or exchanges made
by, or on behalf of, such Purchaser to any other Purchaser (in connection with
such Purchaser's acquisition of an interest in the Assets from another
Purchaser), plus (iii) all accrued and unpaid Discount owed to such Purchaser
which has been paid or deferred by such Purchaser in accordance with Section
2.4(a), less (b) the aggregate amount of Collections and other amounts
(including payments received and amounts received from another Purchaser)
received or exchanged (and not rescinded or returned) and applied by the Agent
or such Purchaser to reduce such Purchaser's Investment.
"Liquidation Proceeds": Refer to the Servicing Agreement.
"Matured Value" shall mean, of any Investment, the sum of (a) such
Investment, plus (b) all unpaid Discount which is then scheduled to become due
(whether or not then due) on such Investment during all Tranche Periods
applicable to all or any part of such Investment, plus (c) all unpaid fees and
other amounts which are then known and scheduled to become due (whether or not
then due) on, or in connection with, such Investment during all Tranche
Periods applicable to all or any part of such Investment.
"Monthly Report": Refer to the Servicing Agreement.
"Net Receivables Balance" shall mean the unpaid principal balance of all
Receivables excluding Balloon Payments, Receivables repurchased by any
Affiliated Entity pursuant to the Transaction Documents for which the Agent
has received the net proceeds therefrom and Receivables liquidated by the
Servicer through the sale of a Financed Vehicle or otherwise (after all then
available anticipated means of recovery thereon have been exhausted) for which
the Agent has received the net proceeds therefrom.
"Obligor" shall mean, for any Receivable, the Person obligated to make
payments on such Receivable or any guarantor of such obligation.
"Performance Guarantor" shall mean Chrysler Financial Corporation, a
Michigan corporation.
"Person" shall mean individuals, partnerships, limited liability
companies, corporations, business trusts, joint stock companies, trusts,
unincorporated associations, joint ventures, Governmental Authorities or any
other entity of whatever nature.
"Portfolio Loss Ratio" shall mean, on each Distribution Date, the
average (expressed as a percentage) of (i) the unpaid principal balance of all
Receivables which are determined to be uncollectible by the Servicer in a
calendar month, less any Liquidation Proceeds received in such month, divided
by (ii) the sum of Collections received during such month on all Receivables,
as determined with respect to each of the four (4) most recently completed
calendar months (or such shorter number of months as have elapsed since the
date hereof).
"Premier" shall mean Premier Auto Receivables Company, a Delaware
corporation.
"Pricing Letter" shall mean the letter agreement, dated the date hereof,
among Premier, the Performance Guarantor, ABN AMRO and the other parties
thereto. For purposes of this Agreement and references to this Agreement, the
Pricing Letter shall be a supplement to this Agreement.
"Prime Rate" shall mean a rate per annum equal to the greater
(redetermined daily) of (i) the floating commercial loan rate of ABN AMRO for
Dollars announced from time to time and (ii) the Federal Funds Effective Rate
plus three fourths of one percent (0.75%).
"Purchase Date" shall mean the Business Day on which the Purchase
Payment is made.
"Purchase Payment" shall mean the payment of Four Hundred Ninety Six
Million Dollars ($496,000,000) by or on behalf of the Purchasers to Premier on
the Purchase Date.
"Purchasers" shall mean Windmill and each other Person which, from time
to time, has purchased, or agreed (on a committed or uncommitted basis) to
purchase, an interest in the Assets.
"Receivable" shall mean each receivable listed on Schedule III,
including any Balloon Payment.
"receivable" shall mean any indebtedness and other obligations owed to
Premier (without giving effect to any transfer or conveyance to the Agent
hereunder) or any right of Premier to payment from or on behalf of an Obligor
whether constituting an account, chattel paper, instrument or general
intangible, arising in connection with the sale of goods or the rendering of
services by a Dealer, including the obligation to pay any Finance Charges with
respect thereto. Indebtedness and other rights and obligations arising from
any one transaction, including indebtedness and other rights and obligations
represented by an individual promissory note or installment purchase
agreement, shall constitute a receivable separate from a receivable consisting
of the indebtedness and other rights and obligations arising from any other
transaction.
"Records" shall mean, for any Receivable, all Contracts and other
documents, books, records and other information relating to such Receivable
and the related Obligor (including the original account receivable, the credit
applications and the certificate of title for the related Financed Vehicle).
"Related Security" shall mean, for any Receivable, (i) all of Premier's
right, title and interest in the Financed Vehicles (including returned
Financed Vehicles, if any) the sale of which by a Dealer gave rise to such
Receivable, and all insurance contracts with respect thereto, (ii) all other
security interests or liens and property subject thereto, if any, purporting
to secure payment of such Receivable, together with all financing statements
signed by an Obligor describing any collateral securing such Receivable, (iii)
all guaranties, letters of credit, insurance and other agreements supporting
or securing payment of such Receivable (including any recourse to Dealers),
(iv) all service contracts and other contracts and agreements related to such
Receivable and (v) all Records related to such Receivable.
"Scheduled Payment" shall mean, for any Receivable, that portion of the
payment required to be made by the Obligor during the respective calendar
month sufficient to amortize the unpaid principal balance under the actuarial
method over the term of the Receivable and to provide interest at the Annual
Percentage Rate.
"Servicer" shall mean CCC in its capacity as Servicer.
"Servicer Fee": Refer to the Servicing Agreement.
"Servicer Termination Event": Refer to the Servicing Agreement.
"Servicing Agreement" shall mean the Servicing Agreement, dated as of
the date hereof, between the Servicer, Premier, the Performance Guarantor and
the Agent.
"Significant Event" shall mean the occurrence of any one or more of the
following:
(a) (i) the Servicer (or any sub-collection agent) shall fail to perform
or observe any term, covenant or agreement under any Transaction Document
(other than as referred to in clause (ii)), and such failure shall remain
unremedied for three (3) Business Days or (ii) any Affiliated Entity shall
fail to make any payment or other transfer of funds to be made by it under any
Transaction Document when due; or
(b) any Affiliated Entity shall fail to observe or perform any covenant
or agreement contained in Section 5.1, 5.2 or 5.3; provided, however, that no
such failure with respect to any receivable shall constitute a Significant
Event if the obligations under Section 2.16 of the Servicing Agreement, with
respect thereto, shall have been satisfied; or
(c) any representation, warranty, certification or statement made by, or
deemed to be made by, any Affiliated Entity in, or pursuant to, any
Transaction Document or any certificate, report, statement or other document
delivered pursuant to any Transaction Document shall prove to have been
incorrect in any material respect when made or deemed made; provided, however,
that no such breach with respect to any receivable shall constitute a
Significant Event if the obligations under Section 2.16 of the Servicing
Agreement, with respect thereto, shall have been satisfied; or
(d) any Affiliated Entity shall default in the performance of any
undertaking under any Transaction Document (other than those covered by clause
(a) or (b)), and such default shall continue for two (2) Business Days; or
(e) failure of any Affiliated Entity to pay any Indebtedness (except for
any such Indebtedness in an aggregate principal amount at any one time
outstanding of up to (i) Fifty Million Dollars ($50,000,000) in the case of
the Performance Guarantor, (ii) Ten Million Dollars ($10,000,000) in the case
of CCC or (iii) One Million Dollars ($1,000,000) in the case of Premier) when
due; or the default by any Affiliated Entity in the performance of any term,
provision or condition contained in any agreement under which any such
Indebtedness was created or is governed, the effect of which is to cause, or
to permit the holders of such Indebtedness to cause, such Indebtedness to
become due prior to its stated maturity; or any such Indebtedness shall be
declared to be due and payable or required to be prepaid (other than by a
regularly scheduled payment) prior to the date of maturity thereof; or there
shall occur a default, termination event or similar event by or with respect
to any Affiliated Entity under any agreement providing for the sale, transfer
or conveyance by any Affiliated Entity of any of its financial assets; or
(f) A Bankruptcy Event shall occur with respect to any
Affiliated Entity or any of their respective subsidiaries; or
(g) any Affiliated Entity shall generally not pay its debts as such
debts become due or shall admit in writing its inability to pay its debts
generally; or
(h) the Portfolio Loss Ratio shall exceed four and one
half percent (4.5%); or
(i) the Net Receivables Balance plus all Principal Collections received
by the Servicer and not yet applied to reduce Aggregate Net Investment at any
time shall be less than one hundred and four percent (104%) of the Aggregate
Net Investment at such time, and such failure shall continue for one (1)
Business Day after any Affiliated Entity has knowledge thereof; or
(j) there shall occur a material adverse change in the creditworthiness,
financial condition, business, operations or prospects of the Performance
Guarantor or in the ability of any Affiliated Entity to perform its
obligations under any Transaction Document to which it is (or is stated to be)
a party, including the collection of the Receivables or in the enforceability
or collectibility of the Receivables; or
(k) any Affiliated Entity shall, directly or indirectly, disaffirm or
contest in any manner the effectiveness, validity, binding nature or
enforceability of any of the Transaction Documents, or any of the Transaction
Documents shall fail to be the binding and enforceable obligation of any
Affiliated Entity that is (or is stated to be) a party thereto; or
(l) [RESERVED]; or
(m) a Servicer Termination Event shall occur; or
(n) this Agreement shall fail to vest and maintain vested in the Agent a
valid first priority perfected ownership interest in the Assets; or
(o) CCC shall breach, or fail to perform under, Section 5.2 of the
Servicing Agreement, and such breach or failure shall remain unremedied for
two (2) Business Days.
"Taxes" shall mean all taxes, charges, fees, levies or other assessments
including income, gross receipts, profits, withholding, excise, property,
sales, use, license, occupation and franchise taxes (including, in each such
case, any interest, penalties or additions attributable to, imposed on or with
respect to any such taxes, charges, fees or other assessments) imposed by any
jurisdiction or taxing authority (whether foreign or domestic).
"Tranche Period": Refer to the Pricing Letter.
"Tranche Rate": Refer to the Pricing Letter.
"Transaction Documents" shall mean this Agreement and all other
financing statements, documents, instruments and agreements executed in
connection herewith and therewith.
"UCC" shall mean, with respect to any state, the Uniform Commercial Code
as from time to time in effect in such state.
"USA" shall mean the United States of America, including all states and
political subdivisions thereof.
"Windmill" shall mean Windmill Funding Corporation, a
Delaware corporation.
"Windmill Funding Source" shall mean any insurance company, bank,
financial institution or other Person providing liquidity, back-up purchase or
credit support for Windmill (including the Purchasers other than Windmill).
<PAGE>
ARTICLE II
TRANSFER, PAYMENTS AND SETTLEMENTS
Section 2.1. Agreement to Purchase and Sell. (a) Premier shall and
hereby does sell the Assets to the Agent and hereby assigns, sells, transfers
and conveys to the Agent, and the Agent hereby acquires from Premier, all of
Premier's right, title and interest in and to the Assets.
(b) As consideration for the sale of the Assets, the Agent hereby agrees
to pay to Premier the Purchase Payment (Five Hundred and Eight Thousand
Dollars ($508,000) of which shall be paid to Chrysler Financial Corporation in
full payment by the Agent for the Cap) plus a deferred payment equal to the
residual interest in the Assets, such residual interest in the Assets being
all Assets remaining once all of the Aggregate Unpaids and Servicer Fees have
been paid, satisfied and discharged in full; provided, however, that Balloon
Payments shall be paid to Premier when received.
(c) Notwithstanding any other provision hereof, all Liquidation Proceeds
and any subsequent recoveries with respect to any Receivable shall be applied
first to the related Receivable (excluding Balloon Payments) and only after
payment in full of the principal balance thereof plus accrued but unpaid
interest thereon shall any such Liquidation Proceeds or recoveries be applied
to, or constitute, a Balloon Payment thereon.
(d) The Agent hereby, without further action hereunder, does sell,
transfer, assign, set over and otherwise convey to Premier, effective as of
the Purchase Date, without recourse, representation or warranty, all the
right, title and interest of the Agent in and to the Balloon Payments, all
monies due and to become due and all amounts received with respect thereto and
all proceeds thereof, subject to Section 2.1(c).
Section 2.2. Selection of Tranche Periods and Tranche Rates. Premier
hereby directs the Agent to make all Tranche Period and type of Tranche Rate
selections on Premier's behalf until Premier otherwise directs the Agent with
five (5) days prior written notice. Notwithstanding the foregoing, all Tranche
Period and type of Tranche Rate selections shall be made in accordance with
the Transaction Documents and the Agent shall have the right to terminate a
Tranche Period in accordance with the Transaction Documents. It is understood
that commercial paper rate funding may not be available, from time to time,
and will not be available during the occurrence and continuation of a
Significant Event.
Section 2.3. Fees and Other Costs and Expenses. (a) General. All per
annum fees shall accrue daily and shall be payable to the Agent monthly in
arrears. All per annum fees hereunder shall be calculated for the actual days
elapsed on the basis of a three hundred sixty (360) day year (unless otherwise
expressly provided herein).
(b) Fees. Premier shall pay to the Agent all amounts contemplated by the
Fee Letter and the Pricing Letter in accordance with the terms thereof.
Section 2.4. Payments. (a) Notwithstanding any provision contained
herein to the contrary, any amounts to be paid or transferred by Premier to,
or for the benefit of, any Person to whom an Aggregate Unpaid is owed shall be
paid or transferred to the Agent for the benefit of such Person. All amounts
to be paid or transferred by Premier or the Servicer under this Agreement
shall be paid or transferred in accordance with the terms hereof no later than
11:00 a.m. (Chicago time) on the day when due in Dollars and in immediately
available funds (and if such funds are received after such time on such day,
they shall be deemed paid on the following Business Day) into the Agent's
Account. All Discount for each Tranche Period is payable upon the termination
of such Tranche Period; provided, however, that, if there are insufficient
funds in the Agent's Account available to pay such Discount, Premier hereby
requests that the relevant Purchasers pay or defer the payment of (by
incurring additional indebtedness, using its assets or any other means
acceptable to such Purchaser) such Discount which payment or deferral shall
give rise to an increase in such Purchasers' Investment. Notwithstanding the
foregoing, Discount shall only be payable out of Assets and the obligation to
pay Discount shall not be the personal obligation of Premier or constitute
indebtedness of Premier. Any amount paid by any Affiliated Entity under any
Transaction Document which is rescinded or returned shall not be considered
paid.
(b) Premier shall, to the extent permitted by law, pay to the Agent upon
demand, for the account of the applicable Person, interest on all amounts not
paid or transferred by Premier or the Servicer when due hereunder, at a rate
equal to the Prime Rate, plus two percent (2%) per annum, calculated from the
date any such amount became due until the date paid in full.
Section 2.5. Optional Repurchase. If at any time the Aggregate Net
Investment as shown on the most recent Monthly Report is less than ten percent
(10%) of the Aggregate Net Investment as of the Effective Date, Premier may,
but shall not be obligated to, at its option exercisable upon five (5)
Business Days prior notice to the Agent, repurchase the Assets from the Agent
(without recourse, representation or warranty except for the representation
and warranty by the Agent that the Assets are being sold free and clear of any
Adverse Claim created or granted by the Agent) at a price equal to the
Aggregate Net Investment (Matured Value) plus all other Aggregate Unpaids.
Section 2.6. Reduction of Commitment Amount. On the second Business Day
following the nineteenth (19th) day of each calendar month, the unused portion
of the Aggregate Commitment shall be reduced in an amount equal to the excess,
if any, of the Aggregate Commitment over one hundred and two percent (102%) of
the Aggregate Net Investment (Matured Value) as provided in the most recent
Monthly Report and subject to verification by the Agent; provided, however,
that each reduction shall be in an amount equal to One Million Dollars
($1,000,000) or an integral multiple thereof and the Aggregate Commitment
shall not be reduced below one hundred and two percent (102%) of the Aggregate
Net Investment (Matured Value).
Section 2.7. Guarantee. (a) The Performance Guarantor hereby
unconditionally and irrevocably covenants and agrees that it will cause CCC
duly and punctually to perform and observe all of the terms, conditions,
covenants, agreements and indemnities of CCC under the Servicing Agreement
strictly in accordance with the terms thereof and that if for any reason
whatsoever CCC shall fail to so perform and observe such terms, conditions,
covenants, agreements and indemnities, the Performance Guarantor will duly and
punctually perform and observe the same. The Performance Guarantor hereby
unconditionally and irrevocably covenants and agrees that it will promptly
deposit into the Agent's Account an amount equal to any Indemnified Loss in
respect of a Receivable due pursuant to Section 6.1(a); provided, however,
that such amount in respect of any Receivable giving rise to an Indemnified
Loss pursuant to Section 6.1(a) shall not exceed the unpaid principal balance
of such Receivable plus accrued interest thereon to the date of such deposit.
Such payment by the Performance Guarantor shall satisfy its obligation to
repurchase such Receivable from Premier.
(b) The liabilities and obligations of the Performance Guarantor under
this Section 2.7 shall be absolute and unconditional under all circumstances
and shall be performed by the Performance Guarantor regardless of (i) whether
the Agent or any other Person shall have taken any steps to collect from
Premier or CCC any of the amounts payable by Premier or CCC to the Agent or
any other Person under Section 6.1(a) or the Servicing Agreement,
respectively, or shall have otherwise exercised any of their rights or
remedies under the Transaction Documents against Premier or CCC, (ii) the
validity, legality or enforceability of any of the Transaction Documents, or
the disaffirmance of any thereof in any insolvency, bankruptcy or
reorganization proceedings relating to Premier or CCC, (iii) any law,
regulation or decree now or hereafter in effect which might in any manner
affect any of the terms or provisions of any Transaction Document or any of
the rights of the Agent or any other Person as against Premier or CCC or which
might cause or permit to be invoked any alteration in the time, amount, manner
or payment or performance of any Transaction Document, (iv) the merger or
consolidation of Premier or CCC into or with any corporation or any sale or
transfer by Premier or CCC of all or any part of its property or (v) any other
circumstances whatsoever (with or without a notice to or knowledge of the
Performance Guarantor) which may or might in any manner or to any extent vary
the risk of the Performance Guarantor, or might otherwise constitute a legal
or equitable discharge of a surety or guarantor; it being the purpose and
intent of the Performance Guarantor that the liabilities and obligations of
the Performance Guarantor under this Section 2.7 shall be absolute and
unconditional under any and all circumstances, and shall not be discharged
except by payment and performance as provided in Section 6.1(a) or the
Servicing Agreement, as applicable.
(c) Without in any way affecting or impairing the liabilities and
obligations of the Performance Guarantor under this Section 2.7 (which shall
be determined by this Section 2.7, Section 6.1(a) and the Servicing Agreement
in their form on the Purchase Date prior to any modification thereof and as
modified with the written consent of the Performance Guarantor), the Agent or
any other Person may at any time and from time to time in their discretion,
without the consent of, or notice to, the Performance Guarantor, (i) extend or
change the time, manner, place or terms of payment of any or all of the
amounts payable by Premier or CCC to the Agent or any other Person under any
of the Transaction Documents or amend, supplement, waive, extend or otherwise
modify any of the terms of any of the Transaction Documents or (ii) settle or
compromise any of the amounts payable by Premier or CCC to the Agent or any
other Person under any of the Transaction Documents or subordinate the same to
the claims of others.
(d) The provisions of this Section 2.7 shall continue to be effective or
be reinstated, as the case may be, if at any time payment of any of the
amounts payable by Premier or CCC to the Agent or any other Person under
Section 6.1(a) or the Servicing Agreement, respectively, is rescinded or must
otherwise be restored or returned by the Agent or any other Person upon the
insolvency, bankruptcy or reorganization of Premier or CCC, or otherwise, all
as though such payment had not been made. The Performance Guarantor hereby
waives (i) notice of the occurrence of any default hereunder or under the
Servicing Agreement, (ii) any requirement of diligence or promptness on the
part of the Agent or any other Person in making demand, commencing suit or
exercising any other right or remedy under any of the Transaction Documents,
or otherwise, and (iii) any right to require the Agent or any other Person to
exercise any right or remedy against Premier or CCC prior to enforcing any of
its rights against the Performance Guarantor under this Section 2.7.
(e) The Performance Guarantor covenants and agrees that so long as any
of the amounts payable by Premier or CCC to the Agent or any other Person
under Section 6.1(a) or the Servicing Agreement, respectively, remain unpaid,
the Performance Guarantor will maintain ownership of not less than eighty
percent (80%) of the issued and outstanding shares of each class of capital
stock of CCC that is entitled to vote generally for the election of directors;
provided, however, that nothing in this Section 2.7 shall prevent the merger
or consolidation of the Performance Guarantor, Premier and CCC in accordance
with Section 5.3.
(f) In addition, and not by way of limitation, to any of the liabilities
and obligations of the Performance Guarantor under this Section 2.7, the
Performance Guarantor covenants and agrees:
(i) to pay or reimburse each Purchaser and the Agent for all its
costs and expenses (other than legal fees and disbursements) incurred in
connection with the enforcement or preservation of any rights under this
Agreement or the Servicing Agreement and for the reasonable fees and
disbursements of one firm of special counsel to the Agent and to the
Purchasers in respect of such enforcement or preservation, and
(ii) to pay, indemnify, and hold each Purchaser and the Agent
harmless from, any and all recording and filing fees and any and all
liabilities with respect to, or resulting from, any delay in paying,
stamp, excise and other taxes (excluding, with respect to any Purchaser,
net income and franchise taxes imposed with respect to net income), if
any, which may be payable or determined to be payable in connection with
the execution and delivery of, or consummation or administration of any
of the transactions contemplated by, or any amendment, supplement or
modification of, or any waiver or consent under or in respect of, this
Agreement or the Servicing Agreement.
(g) The agreements in this Section 2.7 shall survive the termination of
this Agreement and the payment of the Aggregate Unpaids.
ARTICLE III
REPRESENTATIONS AND WARRANTIES
Section 3.1. Affiliated Entities' Representations and Warranties. Each
Affiliated Entity hereby makes the following representations and warranties,
solely to the extent they relate to such Affiliated Entity, on which the Agent
and the Purchasers are deemed to have relied in acquiring the Assets. Such
representations and warranties speak as of the Purchase Date and shall survive
the sale of the Assets to the Agent hereunder.
(a) Organization and Good Standing. Such Affiliated Entity is duly
organized and validly existing as a corporation in good standing under the
laws of its respective state of incorporation, with the corporate power and
authority to own its properties and to conduct its business as such properties
are currently owned and such business is presently conducted, and Premier had
at all relevant times, and has, the corporate power, authority and legal right
to acquire, own and sell the Receivables.
(b) Due Qualification. Such Affiliated Entity is duly qualified to do
business as a foreign corporation in good standing, and has obtained all
necessary licenses and approvals, in all jurisdictions in which the ownership
or lease of property or the conduct of its business requires such
qualifications.
(c) Power and Authority. Such Affiliated Entity has the corporate power
and authority to execute and deliver each Transaction Document to which it is
a party and to carry out the respective terms thereof; Premier has full power,
authority and legal right to sell the Assets to the Agent hereunder, and
Premier has duly authorized such transfer by all necessary corporate action;
and the execution, delivery and performance of each Transaction Document has
been duly authorized by such Affiliated Entity which is a party thereto by all
necessary corporate action.
(d) Binding Obligation. Each Transaction Document constitutes a legal,
valid and binding obligation of such Affiliated Entity which is a party
thereto enforceable in accordance with its terms.
(e) No Violation. The consummation of the transactions contemplated by
each Transaction Document and the fulfillment of the terms thereof do not
conflict with, result in any breach of any of the terms and provisions of, or
constitute (with or without notice or lapse of time) a default under, the
articles or certificate of incorporation or bylaws of such Affiliated Entity,
or any indenture, agreement or other instrument to which such Affiliated
Entity is a party or by which it is bound; or result in the creation or
imposition of any Adverse Claim upon any of its properties pursuant to the
terms of any such indenture, agreement or other instrument; or violate any law
or, to the best of such Affiliated Entity's knowledge after due inquiry, any
order, rule or regulation applicable to such Affiliated Entity of any court or
of any federal or state regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over such Affiliated Entity
or its properties.
(f) No Proceedings. To the best of such Affiliated Entity's knowledge
after due inquiry, there are no proceedings or investigations pending, or
threatened, before any court, regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over such Affiliated Entity
or its properties: (i) asserting the invalidity of any of the Transaction
Documents, (ii) seeking to prevent the consummation of any of the transactions
contemplated by any of the Transaction Documents or (iii) seeking any
determination or ruling that might materially and adversely affect the
performance by such Affiliated Entity of its obligations under, or the
validity or enforceability of, any of the Transaction Documents.
(g) No Insolvent Obligors. No Obligor on a Receivable is shown on any
related Record as the subject of a Bankruptcy Event.
(h) Perfection. Immediately preceding the sale of the Assets to the
Agent hereunder, the Dealers shall have been the original owners and shall
have effectively sold all the Assets to CCC, which, in turn, shall have
effectively sold all the Assets to the Performance Guarantor which, in turn,
shall have effectively sold all the Assets to Premier, in each case, free of
any Adverse Claim, and Premier shall be the owner of all of the receivables
purported to be Receivables hereunder and all other Assets. The Agent has a
valid and perfected first priority ownership interest in each item comprising
the Assets and in each of the Assets free and clear at all such times of any
Adverse Claim.
(i) Coverage Requirement. On the Purchase Date, the Net Receivables
Balance with respect to Receivables for which all of the representations and
warranties set forth in Section 3.2 are true and correct in all material
respects on the Purchase Date equals or exceeds one hundred five and three
quarters percent (105.75%) of the Aggregate Net Investment.
(j) Significant Event. No Significant Event or any event or condition
which but for the lapse of time or the giving of notice, or both, would
constitute a Significant Event has occurred and is continuing.
(k) Schedule of Receivables. The information set forth in Schedule III
is true and correct in all material respects as of the opening of business on
the Effective Date and no selection procedures believed to be adverse to the
Agent were utilized in selecting the Receivables. The computer tape regarding
the Receivables made available to the Agent and its assigns is true and
correct in all respects.
(l) Accuracy of Information. All information heretofore furnished by, or
on behalf of, such Affiliated Entity to the Agent or any other Person is, and
all such information hereafter furnished will be, true and accurate in every
material respect (or based on reasonable estimates, disclosed to be estimates)
and has not omitted and will not omit any information necessary to make the
statements therein not materially misleading.
(m) Authorization. Each certificate or other document delivered by such
Affiliated Entity under any Transaction Document shall be delivered on its
behalf by a Designated Financial Officer.
Section 3.2. Receivables Representations and Warranties. Premier hereby
makes the following representations and warranties on which the Agent and each
Purchaser are deemed to have relied in acquiring the Assets. Such
representations and warranties speak as of the Purchase Date and shall survive
the sale of the Assets to the Agent hereunder.
(a) Characteristics of Receivables. Each Receivable (A) was originated
in the USA by a Dealer for the retail sale of a Financed Vehicle in the
ordinary course of such Dealer's business, was fully and properly executed by
the parties thereto, was purchased by Premier from CCC or the Performance
Guarantor, which, in turn, had purchased such Receivable from such Dealer
under an existing dealer agreement with CCC, and was validly assigned by such
Dealer to CCC in accordance with its terms, (B) has created or shall create a
valid, subsisting and enforceable first priority security interest in favor of
CCC in the Financed Vehicle, which security interest has been assigned to
Premier and is assignable by Premier to the Agent, (C) contains customary and
enforceable provisions such that the rights and remedies of the holder thereof
are adequate for realization against the collateral of the benefits of the
security and (D) provides for level monthly payments (provided, however, that
the payment in the first or last month in the life of the Receivable may be
minimally different from the level payments) that fully amortize the Amount
Financed by maturity and yield interest at the Annual Percentage Rate (other
than the Balloon Payments).
(b) Schedule of Receivables. The information set forth in Schedule III
is true and correct in all material respects and no selection procedures
believed to be adverse to the Agent were utilized in selecting the
Receivables. The computer tape regarding the Receivables made available to the
Agent is true and correct in all respects.
(c) Compliance with Law. Each Receivable and the sale of the related
Financed Vehicle complies in all material respects with all requirements of
applicable federal, state and local laws and regulations thereunder, including
usury laws, the federal Truth-in-Lending Act, the Equal Credit Opportunity
Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act,
the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Federal
Reserve Board's Regulations B and Z, the Texas Consumer Credit Code and State
adaptations of the National Consumer Act and of the Uniform Consumer Credit
Code, and other consumer credit laws and equal credit opportunity and
disclosure laws.
(d) Binding Obligation. Each Receivable represents the genuine, legal,
valid and binding payment obligation in writing of the Obligor, enforceable by
the holder thereof in accordance with its terms.
(e) No Government Obligor. None of the Receivables is due from a
Governmental Authority.
(f) Security Interest in Financed Vehicle. Immediately prior to the
sale, assignment and transfer thereof, each Receivable shall be secured by a
validly perfected first security interest in the Financed Vehicle in favor of
Premier as secured party or all necessary and appropriate actions have been
commenced that would result in the valid perfection of a first security
interest in the Financed Vehicle in favor of Premier as secured party.
(g) Receivables in Force. No Receivable has been satisfied, subordinated
or rescinded, nor has any Financed Vehicle been released from the lien granted
under the related Receivable in whole or in part.
(h) No Waiver. No provision of a Receivable has been waived.
(i) No Amendments. No Receivable has been amended such that the amount
of the Obligor's Scheduled Payments has been increased except for increases
resulting from the inclusion of any premiums for forced-placed physical damage
insurance covering the Financed Vehicle.
(j) No Defenses. No right of rescission, setoff, counterclaim or defense
has been asserted or threatened with respect to any Receivable.
(k) No Liens. No liens or claims have been filed for work, labor or
materials relating to a Financed Vehicle that are liens prior to, or equal or
coordinate with, the security interest in the Financed Vehicle granted under
any Receivable.
(l) No Default. No Receivable has a payment that is more than ninety
(90) days overdue and, except as permitted in this paragraph, no default,
breach, violation or event permitting acceleration under the terms of any
Receivable has occurred; and no continuing condition that with notice or the
lapse of time would constitute a default, breach, violation or event
permitting acceleration under the terms of any Receivable has arisen; and
Premier or Servicer has not waived and shall not waive any of the foregoing.
(m) Insurance. Premier or Servicer, in accordance with its customary
procedures, has determined that the Obligor has obtained physical damage
insurance covering the Financed Vehicle and under the terms of the Receivable
the Obligor is required to maintain such insurance.
(n) Title. No Receivable, or any interest therein, has been sold,
transferred, assigned or pledged by Premier to any Person other than the
Agent. Immediately prior to the sale and assignment herein contemplated,
Premier had good and marketable title to each Receivable free and clear of all
Adverse Claims and, immediately upon the sale thereof, the Agent shall have
good and marketable title to each Receivable, free and clear of all Adverse
Claims; and the sale has been perfected under the UCC.
(o) Lawful Assignment. No Receivable has been originated in, or is
subject to the laws of, any jurisdiction under which the sale, transfer and
assignment of such Receivable is unlawful, void or voidable.
(p) All Filings Made. All filings (including UCC filings) necessary in
any jurisdiction to give the Agent a first priority perfected ownership
interest in the Receivables shall have been made.
(q) One Original. There is only one original executed copy of each
Receivable.
(r) Maturity of Receivables. Each Receivable has a final maturity date
not later than February 28, 2000.
(s) Scheduled Payments. Each Receivable has a first scheduled payment
due on or prior to the end of March, 1995.
(t) Location of Receivable Files. The Records for each Receivable are
kept at one or more of the locations listed in Exhibit A.
(u) Unpaid Principal Balance. Each Receivable (A) has an outstanding
gross balance of at least One Thousand Dollars ($1,000) and (B) is denominated
only in Dollars and payable only in the USA.
(v) No Bankruptcies or First-Time Buyers. No Obligor on any Receivable
was, or is, noted in the related Records as having suffered a Bankruptcy Event
and no such Obligor financed a Financed Vehicle under CCC's "New Finance Buyer
Plan" program.
(w) No Repossessions. No Financed Vehicle securing any Receivable is in
repossession status.
(x) Chattel Paper. Each Receivable constitutes "chattel paper" as
defined in the UCC.
(y) 1933 and 1940 Acts. Each Receivable is an account receivable
representing all or part of the sales price of merchandise, insurance and
services within the meaning of Section 3(c)(5) of the Investment Company Act
of 1940. The purchase of each Receivable with the proceeds of notes would
constitute a "current transaction" within the meaning of Section 3(a)(3) of
the Securities Act of 1933.
ARTICLE IV
CONDITIONS PRECEDENT
Section 4.1. Conditions to Closing. This Agreement shall become
effective on the date (the "Effective Date") on which the Agent shall have
received the following:
(a) Transaction Documents. An executed copy of each Transaction Document
(including any necessary or desirable financing statements).
(b) Corporate Proceedings of the Affiliated Entity. A copy of the
resolutions, in form and substance satisfactory to the Agent, of the Board of
Directors or a committee thereof of each Affiliated Entity authorizing the
execution, delivery and performance of each Transaction Document to which it
is a party, certified by the Secretary or an Assistant Secretary of such
Affiliated Entity, which certificate shall state that the resolutions thereby
certified have not been amended, modified, revoked or rescinded.
(c) Corporate Documents. True and complete copies of each Affiliated
Entity's articles or certificate of incorporation, certified by the
Secretaries of State of the jurisdiction of its incorporation, and by-laws,
certified by its Secretary or Assistant Secretary.
(d) No Violation. A certificate of an appropriate officer of each
Affiliated Entity that the consummation of the transactions contemplated
hereby shall not contravene, violate or conflict with, as to such Affiliated
Entity, any law, rule, regulation or order or the certificate or articles of
incorporation, by-laws or other organizational or governing documents of such
Affiliated Entity.
(e) Consents, Licenses and Approvals. A certificate of an appropriate
officer of each Affiliated Entity (i) attaching copies of all necessary
consents, authorizations and filings, and (ii) stating that such consents,
licenses and filings are in full force and effect.
(f) Legal Opinions. The executed legal opinion of A.L. Ronquillo,
general counsel of the Affiliated Entities, substantially in the form of
Exhibit B.
(g) Good Standing. Good standing certificates for each of the Affiliated
Entities issued by the Secretaries of State of the jurisdiction of its
incorporation.
(h) Certificate. A certificate of the Secretary or any Assistant
Secretary of each of the Affiliated Entities certifying the names and
signatures of the officers authorized on its behalf to execute each
Transaction Document to which it is a party (on which certificate the Agent
may conclusively rely until such time as the Agent shall receive from it a
revised certificate meeting the requirements of this Section 4.1(h)).
(i) [RESERVED].
(j) Receipt. A receipt for payment of any fee payable on or before the
date hereof pursuant to the Fee Letter and the Pricing Letter.
(k) Other. Such other approvals, opinions or documents as the Agent may
reasonably request.
Premier's acceptance of the Purchase Payment shall evidence Premier's
representation and warranty that all of this Section 4.1 has been satisfied.
ARTICLE V
COVENANTS
Section 5.1. Affirmative Covenants of Premier. Premier hereby covenants,
undertakes and agrees that, unless the Agent shall otherwise consent in
writing, Premier will perform the following covenants and agreements:
(a) Notices. Premier will notify the Agent in writing of any of the
following immediately upon learning of the occurrence thereof, describing the
same and, if applicable, the steps being taken by the Person affected with
respect thereto:
(i) Significant Events. The occurrence of any Significant Event,
and such notice shall include a statement of a Designated Financial
Officer of Premier, setting forth the date of such occurrence and the
nature thereof.
(ii) Representations and Warranties. The failure of any
representation or warranty to be true (when made or at any time
thereafter) in any material respect with respect to any Receivable.
(b) Conduct of Business. Premier will, and will cause each other
Affiliated Entity to, do all things necessary for each to remain duly
incorporated, validly existing and in good standing as a domestic corporation
in its jurisdiction of incorporation and maintain all requisite authority to
conduct its business in each jurisdiction in which its business is conducted.
(c) Compliance with Laws. Premier will, and will cause each other
Affiliated Entity to, comply (in all material respects and in all respects
that could have an adverse effect on the enforceability of any Transaction
Document or the enforceability, collectibility or quality of any Receivable)
with all laws, rules, regulations, orders, writs, judgments, injunctions,
decrees or awards to which such Person or the Receivables or any other Asset
may be subject.
(d) Furnishing of Information and Inspection of Records. Premier will
furnish to the Agent and the Servicer from time to time such information with
respect to the Receivables as the Agent or the Servicer, as the case may be,
shall reasonably request, including listings identifying the Obligor and the
unpaid principal balance for each Receivable. Premier will, and will cause
each other Affiliated Entity to, permit, at any time during regular business
hours upon one (1) day prior notice, the Agent, or its agents or
representatives, to: (A) examine and make copies of and abstracts from all
Records and (B) visit the offices and properties of any Affiliated Entity for
the purpose of examining such Records. Premier shall cause all information
heretofore, and all such information hereafter, furnished by, or on behalf of,
any Affiliated Entity to the Agent or the Servicer for purposes of or in
connection with this Agreement or any transaction contemplated hereby to be
materially true and accurate, in each case on the date such information is
stated or certified.
(e) Keeping of Records and Books. Premier will maintain and implement
administrative and operating procedures (including an ability to recreate
records evidencing Receivables in the event of the destruction of the
originals thereof), maintain adequate facilities, personnel and equipment
(including computer software and hardware), and keep and maintain all Records,
documents, books, records and other information reasonably necessary or
advisable for the collection of all Receivables (including records adequate to
permit the immediate identification of all Collections of and adjustments to
each Receivable).
(f) Separate Corporate Existence. Premier will take all actions
necessary to maintain its identity as a separate legal entity from each other
Affiliated Entity.
(g) Performance and Compliance with Receivables and Contracts. Premier
will, and will cause each other Affiliated Entity and each Dealer to, at its
expense, fully perform in a timely fashion and comply in all material respects
with all provisions, covenants and other promises required to be observed by
it, or such Affiliated Entity or such Dealer, under or in connection with each
Asset and will not do anything to impair the rights of the Agent in, or to,
such Assets.
(h) [RESERVED].
(i) Perfection. Premier shall at all times maintain its chief executive
offices within a jurisdiction in the USA (other than in the states of Florida,
Maryland and Tennessee) in which Article 9 of the UCC is in effect. Premier
agrees that from time to time, at its expense, it will promptly execute and
deliver all instruments and documents and take all action that the Agent may
reasonably request in order to perfect or protect the Agent's ownership
interest in the Assets or to enable the Agent to exercise or enforce any of
its rights hereunder. Without limiting the generality of the foregoing,
Premier will, on or prior to the Purchase Date (and promptly upon any changes
or additions hereafter), mark its master data processing records and other
books and records relating to the Assets with a legend describing the Agent's
interest therein. A copy of this Agreement or any financing statement shall be
sufficient as a financing statement.
Section 5.2. Negative Covenants of Premier. Premier hereby covenants,
undertakes and agrees that, unless the Agent shall otherwise consent in
writing, Premier will perform the following covenants and agreements:
(a) Sales and Liens Relating to Receivables. Except as otherwise
provided herein, Premier will not pledge, grant, transfer, convey, sell,
assign (by operation of law or otherwise) or otherwise transfer or dispose of,
or create or suffer to exist any Adverse Claim upon (including the filing of
any financing statement or similar document) or with respect to any Asset or
assign any right to receive the proceeds or income in respect of any of the
foregoing.
(b) Extension or Amendment of Receivables. Except as otherwise permitted
in the Servicing Agreement, Premier will not, and will not permit any other
Affiliated Entity or any Dealer to, extend, amend or otherwise modify the
terms of any Receivable, or amend, modify or waive any term or condition of
any Contract related thereto.
(c) Change in Business or Collection Policies. Premier will not, and
will not permit any other Affiliated Entity or any Dealer to, make any change
in the character of its business or in Premier's or the Servicer's collection
policies, which change would, in either case, materially impair the
enforceability, collectibility or quality of any Receivable.
(d) Accounting of Sales. Premier will not, and will not permit any other
Affiliated Entity or any Dealer to, voluntarily prepare any financial
statements which shall account for, or in any other respect (including for
accounting and tax purposes) account for or treat, the transactions
contemplated hereby in any manner other than as a sale of Receivables or in
any manner inconsistent with the Agent's ownership interest in the Assets.
(e) Contingent Liabilities. Premier will not guarantee, endorse or
otherwise be or become contingently liable (including by agreement to maintain
balance sheet tests but excluding customary indemnifications provided in the
ordinary course of business) in connection with the obligations of any other
Person, except endorsements of negotiable instruments for collection in the
ordinary course of business and reimbursement or indemnification obligations
in favor of the Agent or the Purchasers as provided for under this Agreement.
Section 5.3. Covenants of Premier, the Performance Guarantor and the
Servicer. Premier, the Performance Guarantor and the Servicer hereby jointly
and severally covenant, undertake, and agree that unless the Agent shall
otherwise consent in writing, Premier, the Performance Guarantor and the
Servicer will perform the following covenants and agreements:
(a) Merger, etc. Neither Premier nor the Performance Guarantor nor the
Servicer will merge or consolidate with or into any other Person, or
liquidate, wind up or dissolve itself (or suffer any liquidation or
dissolution) except that:
(i) Premier may merge or consolidate with or into the Performance
Guarantor, provided that immediately after such merger or consolidation,
the representations and warranties set forth in Section 3.1, with
respect to the Performance Guarantor, shall be true and correct as of
such time;
(ii) Premier may merge or consolidate with or into any other
Person, provided that any Person (A) into which Premier may be merged or
consolidated, (B) which may result from any merger or consolidation to
which Premier shall be a party or (C) which may succeed to the
properties and assets of Premier substantially as a whole, which Person
in any of the foregoing cases executes an agreement of assumption to
perform every obligation of Premier under the Transaction Documents,
shall be the successor to Premier thereunder without the execution or
filing of any document or any further act by any of the parties to the
Transaction Documents; provided, however, that (I) immediately after
giving effect to such transaction, no representation or warranty made
pursuant to Section 3.1 shall have been breached and no Servicer
Termination Event or Significant Event and no event that, after notice
or lapse of time, or both, would become a Servicer Termination Event or
Significant Event shall have occurred and be continuing, (II) Premier
shall have delivered to the Agent an officers' certificate and an
opinion of counsel each stating that such consolidation, merger or
succession and such agreement of assumption comply with this Section
5.3(a)(ii) and that all conditions precedent, if any, provided for in
any of the Transaction Documents relating to such transaction have been
complied with, (III) any rating agency condition with respect to the
Transaction Documents shall have been satisfied with respect to such
transaction and (IV) Premier shall have delivered to the Agent an
opinion of counsel either (x) stating that, in the opinion of such
counsel, all financing statements and continuation statements and
amendments thereto have been executed and filed that are necessary fully
to preserve and protect the interest of the Agent in the Assets and
reciting the details of such filings or (y) stating that, in the opinion
of such counsel, no such action shall be necessary to preserve and
protect such interests. Notwithstanding anything therein to the
contrary, the execution of the foregoing agreement of the assumption and
compliance with clauses (I), (II), (III) and (IV) above shall be
conditions to the consummation of the transactions referred to in
clauses (A), (B) or (C) above;
(iii) the Performance Guarantor may merge or consolidate with or
into any other Person, provided that (A) the Performance Guarantor shall
be the continuing or surviving corporation, and (B) immediately after
such merger or consolidation, the representations and warranties set
forth in Section 3.1, with respect to the Performance Guarantor, shall
be true and correct as of such time; and
(iv) The Servicer may merge or consolidate (A) with or into the
Performance Guarantor (provided that the Performance Guarantor shall be
the continuing or surviving corporation), (B) with or into any one or
more of its wholly-owned subsidiaries (provided that a wholly-owned
subsidiary of the Performance Guarantor shall be the continuing or
surviving corporation) and (C) with or into any other Person, if the
Servicer shall be the continuing or surviving corporation and shall
continue to be a subsidiary of the Performance Guarantor and immediately
after such merger or consolidation, the representations and warranties
set forth in Section 3.1, with respect to the Performance Guarantor,
shall be true and correct as of such time.
ARTICLE VI
INDEMNIFICATION
Section 6.1. Indemnities. Without limiting any other rights that the
Agent or any Purchaser may have hereunder or under applicable law, Premier
hereby agrees to indemnify, defend, protect, save and hold harmless the Agent
and each Purchaser and its respective officers, directors, agents and
employees (each an "Indemnified Party") from and against any and all damages,
losses, claims, liabilities, obligations, penalties, actions, judgments,
suits, costs and expenses, including reasonable attorneys' fees (which
attorneys may include employees of the Agent, any Purchaser, or any assignee,
if any), court costs, settlements and disbursements (all of the foregoing
being collectively referred to as "Indemnified Losses") which may at any time
be imposed on, asserted or awarded against or incurred or suffered by any of
them arising out of or as a result of any Transaction Document or the
transactions contemplated thereby or the acquisition, either directly or
indirectly, by the Agent of the Assets or any action taken or omitted by any
of the Indemnified Parties, excluding, however, (i) Indemnified Losses to the
extent a final judgment of a court of competent jurisdiction holds such
Indemnified Losses resulted solely from gross negligence or willful misconduct
on the part of the Indemnified Party seeking indemnification or (ii)
Indemnified Losses to the extent the same include losses in respect of
uncollectible Receivables solely due to the credit risk of the Obligor and
reimbursement therefor would constitute recourse to Premier for the amount of
uncollectible Receivables; provided, however, that nothing contained in this
sentence shall limit the liability of Premier, the Performance Guarantor, CCC
or the Servicer or limit the recourse of the Agent and each Purchaser to
Premier, the Performance Guarantor, CCC or the Servicer, respectively, for any
amounts otherwise specifically provided to be paid by Premier, the Performance
Guarantor, CCC or the Servicer under the terms of this Agreement, including
the terms of the next succeeding sentence. Without limiting the generality of
the foregoing indemnification, Premier agrees to indemnify the Agent and each
Purchaser for Indemnified Losses (including losses in respect of uncollectible
Receivables, regardless of whether reimbursement therefor would constitute
recourse to Premier) relating to or resulting from:
(a) the inclusion in the Net Receivables Balance of (i) any Receivable
other than a Receivable with respect to which all of the representations and
warranties set forth in Section 3.2 are true and correct in all material
respects on the Purchase Date or (ii) any Balloon Payment;
(b) any representation or warranty made by any Affiliated Entity, the
Servicer or any officers of either thereof under or in connection with any of
the Transaction Documents, including any Monthly Report or any other
information or report delivered by any Affiliated Entity or the Servicer or
any officers of any thereof, pursuant hereto or thereto, that shall have been
false, misleading or incorrect in any material respect, or omitted to state a
material fact, when made or deemed made;
(c) any alleged failure by Premier, the Servicer, or any other Person
(acting for, on behalf of, or together with, Premier or the Servicer) to
comply with any applicable law, rule or regulation with respect to any
Receivable, or the collectability thereof, or any Contract related thereto,
imposed by any governmental or regulatory body, including any requirements of
licensing, registration, authorizations, consents and approvals necessary or
desirable for the entering into of any Contract, for the creation of any
Receivable or for the sale of any interest in any Receivable to the Agent
hereunder and including laws, rules and regulations relating to usury,
disclosures, truth in lending, fair credit billing, fair credit reporting,
equal credit opportunity, fair debt collection practices, trade practices,
consumer protection and privacy, or any of the foregoing which may affect the
enforceability of any Receivable, or the nonconformity of any Receivable or
Contract included therein or sale of the Assets to the Agent hereunder with
any such applicable law, rule or regulation;
(d) the failure to vest and maintain vested in the Agent a perfected
ownership interest in the Assets free and clear of any Adverse Claim;
(e) the failure to vest and maintain vested in the Agent a perfected
security interest in the Assets free and clear of any Adverse Claim;
(f) [RESERVED];
(g) the failure by Premier, the Servicer, or any other Person (acting
for, on behalf of, or together with, Premier or the Servicer) to file, or any
delay in filing, financing statements or other similar instruments or
documents under the UCC of any applicable jurisdiction or other applicable
laws with respect to any Assets;
(h) any commingling of Collections or other funds to which the Agent or
any Purchaser is entitled hereunder with any other funds;
(i) any dispute, claim, counterclaim, offset or defense (other than
discharge in bankruptcy of the Obligor) of the Obligor to the payment of any
Receivable included in the Assets (including a defense based on such
Receivable or the Contract relating to such Receivable not being a legal,
valid and binding obligation of such Obligor enforceable against it in
accordance with its terms);
(j) any failure of any Affiliated Entity or the Servicer to perform its
duties or obligations in accordance with the provisions of each of the
Transaction Documents to which such Affiliated Entity or the Servicer is a
party; or
(k) any action taken by the Agent under the Servicing Agreement.
Section 6.2. Tax Indemnification and Characterization. (a) Premier
agrees to pay, and to indemnify, defend, protect, save and hold harmless, on
an after-Tax basis, the Agent and each Purchaser from and against, all (i)
Taxes that may at any time be imposed in connection with the Receivables, any
of the Transaction Documents or the receipt of payment under this Section 6.2,
whether imposed upon the Agent, any Purchaser, any Affiliated Entity, any
other Person, the Assets or otherwise and (ii) damages, losses, claims,
liabilities and related costs and expenses and reasonable counsel fees of the
Agent and each Purchaser in connection with the imposition or assertion of any
Tax described in clause (i) above or defending against the same, and in all
cases, whether arising by reason of the acts to be performed by any Affiliated
Entity under any Transaction Document or otherwise or imposed upon or against
any Purchaser, the Agent, any Affiliated Entity or any other Person or the
property involved or otherwise; provided, however, that this Section 6.2(a)
shall not apply with respect to Taxes on or measured by the overall net income
of the Agent or any Purchaser ("Income Taxes") to the extent that the
computation of such Income Taxes is consistent with the Intended Tax
Characterization (defined below).
(b) [RESERVED].
(c) It is the intention of the parties hereto that, for the purposes of
all Taxes, the transactions contemplated hereby shall be treated as a sale by
Premier to the Agent which is acting as agent for the Purchasers and such
Purchasers will be treated as the owners for tax purposes (the "Intended Tax
Characterization"). The parties hereto agree to report such transactions for
the purposes of all Taxes, and otherwise to act for the purposes of all Taxes,
in a manner consistent with the Intended Tax Characterization.
(d) All payments due pursuant to this Section 6.2 shall be paid no later
than ten (10) Business Days after demand for such payment has been made by the
Agent. Without in any way limiting the Agent's and any Purchaser's remedies,
any such amount not paid when due shall bear interest at a rate equal to the
Prime Rate plus two percent (2%) per annum. Any claim that the Agent or any
Purchaser makes for payment pursuant to this Section 6.2 shall be accompanied
by a statement of the Agent's or such Purchaser's accountants which attests
that the claim has been computed in conformity with the requirements of this
Section 6.2.
Section 6.3. Increased Cost and Reduced Return. (a) If the adoption of
any applicable law, rule or regulation, or any change therein, or any change
in the interpretation or administration thereof by any Governmental Authority,
central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by any Windmill Funding Source, the
Agent or Windmill (collectively, the "Funding Parties") with any request or
directive (whether or not having the force of law) of any such Governmental
Authority, central bank or comparable agency (a "Regulatory Change"): (i)
shall subject any of the Funding Parties to any charge or withholding on or
with respect to the applicable Funding Agreement or the Assets or other
property conveyed hereunder or funds advanced in connection therewith, or such
Funding Party's obligations under any of the Funding Agreements, (ii) shall
impose, modify or deem applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for
the account of, or any credit extended by, any of the Funding Parties or (iii)
shall impose any other condition, and the result of any of the foregoing is to
impose a cost on or increase the cost to any of the Funding Parties (A) of its
commitment under any of the Funding Agreements, or (B) of its purchasing,
maintaining or funding of any of its property interests under any of the
Funding Agreements, or (C) of the Assets or its interest therein, as the case
may be, or to reduce the amount of any sum received or receivable by any of
the Funding Parties under any of the Funding Agreements or to require any
payment calculated by reference to the amount of interests or loans held or
interest or other amounts received by it, then, upon demand by the Agent,
Premier shall pay to the Agent or such Funding Party such additional amounts
as will compensate such Funding Party for such increased cost or reduction.
(b) If any of the Funding Parties shall have determined that any
Regulatory Change (including any such Regulatory Change that results in or
results from or otherwise relates to any transaction in connection with any of
the Funding Agreements or any commitment thereunder or hereunder being
classified as a highly leveraged transaction for regulatory or other purposes)
has or would have the effect of reducing the rate of return on such Funding
Party's capital as a consequence of such Funding Party's obligations or
commitment under any of the Funding Agreements to a level below that which
such Funding Party could have achieved but for such adoption, change or
compliance (taking into consideration such Funding Party's policies with
respect to capital adequacy), then, from time to time upon demand by the
Agent, Premier shall pay to the Agent or such Funding Party such additional
amounts as will compensate such Funding Party for such reduction.
(c) If any Person shall become entitled to claim any additional amounts
pursuant to Section 6.3(a) or 6.3(b), such Person (i) shall promptly notify
Premier, through the Agent, of the event or circumstance by reason of which it
has become so entitled, and (ii) shall deliver to Premier and the Agent one or
more certificates setting forth the amounts due to such Person under Section
6.3(a) or 6.3(b), a description of such event or circumstance by reason of
which it has become entitled to such amount and the manner of computation and
calculation of such amount. Each such certificate shall be conclusive absent
manifest error. Premier shall pay to the Agent, for the account of such
Person, the amount shown as due on any such certificate within ten (10)
Business Days after receipt of the same. No failure on the part of any Person
to demand compensation under this Section 6.3 on any occasion shall constitute
a waiver of its right to demand such compensation on any other occasion. The
protection of this Section 6.3 shall be available to each Person regardless of
any possible contention of the invalidity or inapplicability of any law,
regulation or other conditions which shall give rise to any demand by such
Person for compensation hereunder.
(d) If any liquidity provider of Windmill shall become affected by any
of the changes or events described in Section 6.3(a) or 6.3(b) and the Agent,
on behalf of such liquidity provider, shall petition Premier for any increased
cost or amounts thereunder, then in such case, Premier or the Agent may, upon
at least ten (10) Business Days prior notice to the Agent (with respect to
Premier) and such liquidity provider, designate a replacement liquidity
provider acceptable to the Agent and the Purchasers in accordance with the
terms of the Transaction Documents.
Section 6.4. Other Costs and Expenses. Premier shall pay to the Agent
and the Purchasers on demand all costs and expenses in connection with (a) the
preparation, execution, delivery and administration (including amendments,
supplements, waivers and any other modification of any provision) of the
Transaction Documents, (b) the sale of the Assets to the Agent hereunder, (c)
the perfection as against all third parties whatsoever of the Agent's right,
title and interest in the Assets and (d) the enforcement by the Agent or the
Purchasers of the indebtedness, obligations and liabilities of Premier, the
Performance Guarantor and the Servicer under the Transaction Documents, or any
related document or of any Obligor under any Receivable or other Asset,
including costs and expenses with respect to advising any Funding Party as to
its rights and remedies under any Transaction Document or any related Funding
Agreement and all costs and expenses, if any, including counsel fees and
expenses of any Funding Party in connection with the enforcement of the
Transaction Documents and any such Funding Agreement and in connection with
any restructuring or workout of such Transaction Documents or the
administration of the Transaction Documents following a Significant Event or
enforcement of the indebtedness, obligations and liabilities of any Obligor
under any Receivable or other Asset. Premier shall reimburse the Agent for the
cost of the Agent's auditors (which such auditors may be employees of the
Agent) auditing the books, records and procedures of Premier. Premier shall
reimburse Windmill for any amounts Windmill must pay to any Windmill Funding
Source pursuant to any Funding Agreement on account of any Tax described in,
and made payable by application of, Section 6.2 and applicable to such
Windmill Funding Source. Premier shall reimburse the Agent and the Purchasers
on demand for any and all amounts specified in the Fee Letter and the Pricing
Letter.
Section 6.5. Withholding Taxes. All payments made by Premier or the
Servicer under the Transaction Documents shall be made free and clear of, and
without reduction or withholding for or on account of, any present or future
Taxes, now or hereafter imposed, levied, collected, withheld or assessed by
any Governmental Authority or other taxing authority excluding, in the case of
the Agent and each Purchaser, any net income taxes imposed on the Agent or
such Purchaser (such non-excluded Taxes being hereinafter called "Non-Excluded
Taxes"). If any Non-Excluded Taxes are required to be withheld from any
amounts payable to the Agent or any Purchaser, the amounts so payable to the
Agent or such Purchaser shall be increased to the extent necessary to yield to
the Agent or such Purchaser (after payment of all Taxes) all such amounts
payable hereunder at the rates or in the amounts specified in this Agreement.
Whenever any Non-Excluded Taxes are payable by Premier or the Servicer, as
promptly as possible thereafter, Premier or the Servicer shall send to the
Agent for its own account or for the account of such Purchaser, as the case
may be, a certified copy of an original official receipt received by Premier
or the Servicer showing payment thereof. If Premier or the Servicer fails to
pay any Non-Excluded Taxes when due to the appropriate taxing authority or
fails to remit to the Agent the required documentary evidence, Premier or the
Servicer shall indemnify the Agent and the Purchasers for such Non-Excluded
Taxes and any incremental Taxes that may become payable by the Agent or any
Purchaser as a result of any such failure.
Section 6.6. Allocations. All allocations to be made pursuant to the
foregoing provisions of this Article VI shall be made by the Agent in its
reasonable discretion and shall be binding on Premier. Should the Agent invoke
the indemnity provisions of this Article VI, then the Agent shall provide
Premier with one or more certificates setting forth amounts due, a description
of such event or circumstance by reason of which it has become entitled to
invoke this Article VI, and the basis of any calculations made which, in the
absence of material error, shall be conclusive and binding for all purposes.
Premier shall pay to the Agent the amount shown as due on any such certificate
within ten (10) Business Days after receipt of same. For all purposes of
determining materiality under this Article VI, no Person shall have the right
to receive any information other than its right to receive from the Agent (or
the applicable Funding Party) one or more certificates setting forth amounts
due, a description of such event or circumstance by reason of which it has
become entitled to invoke this Article VI, and the basis of any calculations
made.
ARTICLE VII
MISCELLANEOUS
Section 7.1. Term of Agreement. This Agreement shall terminate when all
the Aggregate Unpaids have been paid in full. Notwithstanding the foregoing,
(i) the rights and remedies of the Agent and each Purchaser with respect to
any representation and warranty made, or deemed to be made, by Premier, the
Performance Guarantor or the Servicer, (ii) the indemnification and payment
provisions hereof (including Sections 6.1, 6.2, 6.3, 6.4 and 6.5), and (iii)
any other provision which by its own terms survives the termination of this
Agreement, shall be continuing and shall survive any termination of this
Agreement.
Section 7.2. Waivers; Amendments. No failure or delay on the part of the
Agent or any Purchaser in exercising any power, right, privilege or remedy
under this Agreement shall operate as a waiver thereof, nor shall any single
or partial exercise of any such power, right, privilege or remedy preclude any
other or further exercise thereof or the exercise of any other power, right,
privilege or remedy. The rights, powers, privileges and remedies herein
provided shall be cumulative and not exclusive of any rights, powers,
privileges or remedies provided by law. Any waiver of this Agreement shall be
effective only in the specific instance and for the specific purpose for which
given. No waiver, amendment, supplement or other modification to this
Agreement shall be effective unless in writing and signed by each of the
parties hereto.
Section 7.3. Notices. Except as provided below, all communications,
demands and notices provided for hereunder shall be in writing (including bank
wire, telecopy or electronic facsimile transmission or similar writing) and
shall be given to each other party at its address or telecopy number set forth
on its signature page of the Purchase Agreement or at such other address or
telecopy number as such party may hereafter specify for the purposes of notice
to such party. Each such notice or other communication shall be effective (i)
if given by telecopy, upon the receipt thereof, (ii) if given by mail, three
(3) Business Days after the time such communication is deposited in the mails
with first-class postage prepaid or (iii) if given by any other means, when
received at the address specified in this Section 7.3; provided, however,
that, in the case of any notice to be given under Article II, such notice
shall not be effective until receipt thereof by the Person to whom such notice
is to be given. Notwithstanding the foregoing, if Premier makes Tranche Period
or Tranche Rate selections, it hereby authorizes the Agent to make such
selections based on telephonic notices made by any Person which the Agent in
good faith believes to be acting on behalf of Premier. Premier agrees to
deliver promptly to the Agent a written confirmation of each telephonic notice
signed by an authorized officer of Premier. Each Affiliated Entity, and the
Servicer, hereby authorizes the Agent, at the Agent's option, to tape record
all or any part of telephonic notices and any other related conversations. The
Agent's records as to all such matters shall be deemed correct. The absence of
any written confirmation shall not affect the validity of the notice. If the
written confirmation differs in any material respect from the action taken by
the Agent, the records of the Agent shall govern absent manifest error.
Section 7.4. Governing Law; Submission to Jurisdiction. THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND
NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK. Each Affiliated Entity,
and the Servicer, hereby submits to the nonexclusive jurisdiction of any
United States District Court for New York and of any New York state court
sitting in New York, New York for purposes of all legal proceedings arising
out of or relating to this Agreement or the transactions contemplated hereby.
Each Affiliated Entity, and the Servicer, hereby irrevocably waives, to the
fullest extent it may effectively do so, any objection which it may now or
hereafter have to the laying of the venue of any such proceeding brought in
such a court and any claim that any such proceeding brought in such a court
has been brought in an inconvenient forum. Nothing in this Section 7.4 shall
affect the right of the Agent or any Purchaser to bring any action or
proceeding against any Affiliated Entity, or the Servicer, or its property in
the courts of other jurisdictions.
Section 7.5. Further Assurances. Each Affiliated Entity, and the
Servicer, agrees, from time to time, to do and perform any and all acts and to
execute any and all further instruments required or reasonably requested by
the Agent to more fully effect the purposes of the Transaction Documents,
including the execution of any financing statements or continuation statements
relating to the Assets for filing under the provisions of the UCC of any
applicable jurisdiction.
Section 7.6. Waiver of Confidentiality. Anything herein to the contrary
notwithstanding, each Affiliated Entity, and the Servicer, hereby consents to
the disclosure of any nonpublic information with respect to it (i) to the
Funding Parties by other Funding Parties, and (ii) by the Funding Parties to
any prospective or actual assignee or participant of any of them (only if such
nonpublic information is accompanied by a statement that such prospective or
actual assignee or participant agrees, by receipt of such information, to
maintain the confidentiality of such information) or any rating agency or
provider of a surety, guaranty or credit or liquidity enhancement to any of
them or any entity organized for the purpose of purchasing, or making loans
secured by, financial assets for which ABN AMRO provides managerial services
or acts as the administrative agent, or the administrator, the management
company, any referral agent, any depositary or issuing agent, any commercial
paper dealer or placement agent of Windmill, or any officers, directors,
employees, outside accountants, auditors, Governmental Authorities having
jurisdiction over them or lawyers of any of the foregoing. In addition, the
Funding Parties may disclose any such nonpublic information pursuant to any
law, rule, regulation, direction, request or order of any judicial,
administrative or regulatory authority or proceedings (whether or not having
the force and effect of law).
Section 7.7. Confidentiality of Agreement. Unless otherwise agreed to in
writing by the Agent, each Affiliated Entity, and the Servicer, hereby agrees
that it will not disclose the contents of the Transaction Documents, or any
other confidential or proprietary information furnished by any Funding Party,
to any other Person except (i) its auditors and attorneys or (ii) as otherwise
required by applicable law or order of a court of competent jurisdiction.
Section 7.8. Limitation of Liability. No claim may be made by Premier,
the Performance Guarantor, the Servicer or any other Person against any
Funding Party or their respective Affiliates, directors, officers, employees,
attorneys or agents for any special, indirect, consequential or punitive
damages in respect of any claim for breach of contract or any other theory of
liability arising out of or related to the transactions contemplated by the
Transaction Documents, or any act, omission or event occurring in connection
therewith; and Premier, the Servicer and the Performance Guarantor for
themselves, and all other Persons claiming by or through them, hereby waive,
release and agree not to sue upon any claim for any such damages, whether or
not accrued and whether or not known or suspected to exist in its favor.
Section 7.9. Limitations Regarding Premier. (a) Agreement Not to
Petition. Each of the parties hereto and each Purchaser hereby covenants and
agrees that such Person shall not at any time institute against Premier any
bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any Federal or state bankruptcy or
similar law.
(b) Limited Recourse. Notwithstanding any other provision of this
Agreement, all obligations and liabilities of Premier hereunder and under the
other Transaction Documents shall constitute Aggregate Unpaids and shall be
limited recourse to Premier, with such recourse being limited to the Assets.
(c) No Affect. Notwithstanding any of the limitations set forth in this
Section 7.9 with respect to Premier, none of the liabilities,
indemnifications, payments or other obligations or duties of the Performance
Guarantor, CCC or the Servicer shall in any way be limited, deferred or
otherwise affected by this Section 7.9 nor shall the application of this
Section 7.9 be interpreted in any manner which is inconsistent with the
Agent's ownership of the Assets or which limits, defers or otherwise affects
the ability of any Person to recover the Aggregate Unpaids from the Assets.
(d) Administration. Each of the parties to this Agreement hereby
acknowledges and agrees that each and every responsibility, function, duty and
agreement of Premier set forth herein will be performed by CCC for, in the
name of and on behalf of Premier, as Premier's administrative agent.
Section 7.10. Enforceability of Receivables. The obligations of each
Affiliated Entity, and the Servicer, under this Agreement shall not be
affected by reason of any invalidity, illegality or irregularity of any
Receivable or the sale of the Assets to the Agent hereunder.
Section 7.11. Third-Party Beneficiaries. The Purchasers are intended to
be third-party beneficiaries of this Agreement.
Section 7.12. Agreement to Generic Provisions and Standard Provisions.
Each of the parties hereto hereby agrees to be bound by, and comply with, all
of the terms, provisions and agreements set forth in Schedules I and II. All
defined terms used therein, and not otherwise defined herein, shall have the
meanings ascribed to such terms in the other Transaction Documents; provided,
however, that the term "this Agreement" as used therein shall refer to this
Agreement. The provisions of Sections SP.2, SP.3, SP.5 and SP.6 shall survive
the termination of this Agreement.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered by their duly authorized officers as of the date
hereof.
PREMIER AUTO RECEIVABLES CHRYSLER CREDIT CORPORATION,
COMPANY, as Premier individually and as the
Servicer
By: /s/ David Olsen By: /s/ David Olsen
---------------------------- ----------------------------
Title: Assistant Treasurer Title: Assistant Treasurer
------------------------- -------------------------
Address: 27777 Franklin Road Address: 27777 Franklin Road
Southfield, Michigan Southfield, Michigan
48034-8286 48034-8286
Attention: Secretary Attention: Secretary
Telecopy: (810) 948-3148 Telecopy: (810) 948-3148
Telephone: (810) 948-3060 Telephone: (810) 948-3060
CHRYSLER FINANCIAL ABN AMRO BANK N.V., as the
CORPORATION, as the Performance Agent
Guarantor
By: /s/ Robert Graff
----------------------------
Title: Vice President
-----------------------
By: /s/ David Olsen By: /s/ Ryan Robinson
---------------------------- ----------------------------
Title: Assistant Treasurer Title: Vice President
------------------------ ------------------------
Address: 27777 Franklin Road Address: Structured Finance, Asset
Southfield, Michigan Securitization
48034-8286 135 South LaSalle Street
Attention: Secretary Chicago, IL 60674-9135
Telecopy: (810) 948-3148 Attention: Purchaser Agent-
Telephone: (810) 948-3060 WINDMILL
Telephone: (312) 904-2737
Telecopy: (312) 904-6376
Exhibit 12-A
<TABLE>
<CAPTION>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
Three Months Ended
March 31,
(Unaudited)
--------------------
1995 1994
------ ------
(dollars in millions)
<S> <C> <C>
Net Earnings before cumulative effect
of changes in accounting principles $ 69 $ 47
Add back:
Taxes on income 40 28
Fixed charges 217 190
---- ----
Earnings available for fixed charges $326 $265
==== ====
Fixed charges:
Interest expense $213 $185
Rent 4 5
---- ----
Total fixed charges $217 $190
==== ====
Ratio of earnings to fixed charges 1.50 1.39
==== ====
</TABLE>
The ratios of earnings to fixed charges have been computed by dividing
earnings before income taxes and fixed charges by fixed charges. Fixed charges
consist of interest, amortization of debt discount and expense, and rentals.
Rentals included in fixed charges are the portion of total rent expense
representative of the interest factor (deemed to be one-third).
Exhibit 12-B
<TABLE>
<CAPTION>
CHRYSLER CORPORATION ENTERPRISE AS A WHOLE
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS
Three Months Ended
March 31,
(Unaudited)
--------------------
1995 1994
------ ------
(dollars in millions)
<S> <C> <C>
Net earnings from continuing operations $ 592 $ 938
Add back:
Taxes on income 378 605
Fixed charges 326 319
Amortization of previously
capitalized interest 24 24
Deduct:
Capitalized interest 45 45
Undistributed earnings from
less than fifty-percent owned
affiliates 2 0
------ ------
Earnings available for fixed charges $1,273 $1,841
Fixed charges:
Interest expense $ 245 $ 233
Interest expense of unconsolidated
subsidiaries 0 0
Capitalized interest 45 45
Credit line commitment fees 2 3
Interest portion of rent expense 34 38
Gross up of preferred stock dividends
of majority-owned subsidiaries (CFC)
to a pre-tax basis 0 0
------ ------
Total fixed charges $ 326 $ 319
====== ======
Ratio of earnings to fixed charges 3.90 5.77
Preferred stock dividend requirements 23 33
Ratio of earnings to fixed charges and
preferred stock dividend requirements 3.65 5.23
Equity taken up in earnings of less than
fifty-percent owned affiliates $ 2 $ 0
Deduct: Dividends paid by affiliates 0 0
------ ------
Undistributed earnings from
less than fifty-percent owned affiliates $ 2 $ 0
====== ======
</TABLE>
For the purpose of computing the ratios of earnings to fixed charges and
preferred stock dividends, earnings are determined by adding back fixed
charges to consolidated earnings from continuing operations (including equity
in net earnings of unconsolidated subsidiaries) before taxes on income and
excluding undistributed earnings from less than fifty-percent owned
affiliates. Fixed charges consist of interest expense, credit line commitment
fees, interest portion of rental expense and the preferred stock dividend
requirements of its majority-owned subsidiaries increased to an amount
representing the pre-tax earnings that would be required to cover such
dividend requirements.
Exhibit 15-A
[Letterhead of DELOITTE & TOUCHE LLP]
DELOITTE &
TOUCHE LLP
____________ _________________________________________
Suite 900 Telephone (313) 396-3000
600 Renaissance Center
Detroit, Michigan 48243-1704
INDEPENDENT ACCOUNTANTS' REPORT
Shareholder and Board of Directors
Chrysler Financial Corporation
Southfield, Michigan
We have reviewed the accompanying consolidated balance sheet of Chrysler
Financial Corporation (a subsidiary of Chrysler Corporation) and
consolidated subsidiaries as of March 31, 1995 and 1994, and the
related consolidated statements of net earnings and cash flows for the
three-months ended March 31, 1995 and 1994. These financial statements
are the responsibility of the Company's management.
We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical
procedures to financial data and making inquiries of persons responsible
for financial and accounting matters. It is substantially less in scope
than an audit conducted in accordance with generally accepted auditing
standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole. Accordingly, we do
not express such an opinion.
Based on our review, we are not aware of any material modifications that
should be made to the consolidated financial statements referred to above
for them to be in conformity with generally accepted accounting
principles.
We have previously audited, in accordance with generally accepted auditing
standards, the consolidated balance sheet of Chrysler Financial
Corporation and consolidated subsidiaries as of December 31, 1994, and
the related consolidated statements of net earnings and cash flows for the
year then ended (not presented herein); and in our report dated January
16, 1995, we expressed an unqualified opinion on those consolidated
financial statements. In our opinion, the information set forth in the
accompanying condensed consolidated balance sheet as of December 31, 1994
is fairly presented, in all material respects, in relation to the
consolidated balance sheet from which it has been derived.
/s/ DELOITTE & TOUCHE LLP
April 13, 1995
_______________
Deloitte Touche
Tohmatsu
International
_______________
Exhibit 15-B
[Letterhead of DELOITTE & TOUCHE LLP]
DELOITTE &
TOUCHE LLP
____________ _________________________________________
Suite 900 Telephone (313) 396-3000
600 Renaissance Center
Detroit, Michigan 48243-1704
April 13, 1995
Chrysler Financial Corporation
27777 Franklin Road
Southfield, Michigan
We have made a review, in accordance with standards established by the
American Institute of Certified Public Accountants, of the unaudited
interim financial information of Chrysler Financial Corporation (a
subsidiary of Chrysler Corporation) and consolidated subsidiaries for
the periods ended March 31, 1995 and 1994, as indicated in our report
dated April 13, 1995; because we did not perform an audit, we expressed
no opinion on that information.
We are aware that our report referred to above, which is included in your
Quarterly Reports on Form 10-Q for the quarter ended March 31, 1995, is
incorporated by reference in Registration Statement Nos. 33-52421 and
33-55787 on Form S-3 and Registration Statement No. 33-55789 on Form S-3.
We also are aware that the aforementioned report, pursuant to Rule 436(c)
under the Securities Act of 1933, is not considered a part of the
Registration Statement prepared or certified by an accountant or a report
prepared or certified by an accountant within the meaning of Sections 7
and 11 of that Act.
/s/ DELOITTE & TOUCHE LLP
_______________
Deloitte Touche
Tohmatsu
International
_______________
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES FOR THE
THREE MONTHS ENDED MARCH 31, 1995 FINANCIAL DATA SCHEDULE
PURSUANT TO ARTICLE 5 OF S-X.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> MAR-31-1995
<PERIOD-TYPE> 3-MOS
<CASH> 330
<SECURITIES> 723
<RECEIVABLES> 16,057
<ALLOWANCES> 551
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 863
<DEPRECIATION> 197
<TOTAL-ASSETS> 17,702
<CURRENT-LIABILITIES> 1,018
<BONDS> 11,858
<COMMON> 25
0
0
<OTHER-SE> 3,286
<TOTAL-LIABILITY-AND-EQUITY> 17,702
<SALES> 0
<TOTAL-REVENUES> 560
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 150
<LOSS-PROVISION> 88
<INTEREST-EXPENSE> 213
<INCOME-PRETAX> 109
<INCOME-TAX> 40
<INCOME-CONTINUING> 69
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 69
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
