Execution
Version
AMENDMENT NO. 9 TO
TRANSFER AND ADMINISTRATION AGREEMENT
THIS AMENDMENT NO. 9 TO TRANSFER AND ADMINISTRATION
AGREEMENT
(this “
Amendment
”),
dated as of October 18, 2012, is by and among
Thoroughbred
Funding
,
Inc
.
, a Virginia corporation (the “
SPV
”),
Norfolk
Southern Railway Company
, a Virginia corporation, as
originator (in such capacity, the “
Originator
”), and as servicer (in
such capacity, the “
Servicer
”), the “Conduit Investors” party hereto,
the “Committed Investors” party hereto, the “Managing Agents” party hereto,
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW
YORK BRANCH
, as the Administrative Agent for the Investors,
CRC FUNDING, LLC
(“
CRC Funding
”),
CAFCO, LLC
(“
CAFCO
”),
CHARTA, LLC
(“
CHARTA
”),
CIESCO, LLC
(“
CIESCO
”
and, together with CRC Funding, CAFCO and CHARTA, collectively the “
Citi
Conduits
” and each a “
Citi Conduit
”) and
CITIBANK, N.A.
(“
Citi
”).
Capitalized
terms used herein and not otherwise defined herein shall have the meaning given
to such terms in the Transfer and Administration Agreement (defined below).
WHEREAS, the SPV, the Servicer, NSC, the Conduit
Investors, the Committed Investors, the Managing Agents and the Administrative
Agent are parties to that certain Transfer and Administration Agreement dated
as of November 8, 2007 (as amended, supplemented or otherwise modified as of
the date hereof, the “
Transfer and Administration Agreement
”); and
WHEREAS, the parties to the Transfer and
Administration Agreement have agreed to amend the Transfer and Administration
Agreement on the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises set
forth above, the terms and conditions contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:
Section 1.
Amendment to the Transfer and Administration Agreement
.
Effective as of the date first written above and subject to the execution of
this Amendment by the parties hereto and the satisfaction of the conditions
precedent set forth in
Section 2
below, the Transfer and Administration
Agreement is hereby amended as follows:
1.1.
The definition of “Alternate Rate” set forth in Section 1.1 of the
Transfer and Administration Agreement is hereby amended and restated in its
entirety to read as follows:
“
Alternate
Rate
” means (i) with respect to the Investor Group for which Bank of
America, N.A. is the Managing Agent for each day during any Rate Period for any
Portion of Investment, an interest rate per annum equal to the LIBO Rate for
such day plus the Used Fee Rate (as defined in the Fee Letter);
provided,
that
, notwithstanding the foregoing, on any day during any Rate Period that
any Portion of Investment is funded or maintained by one or more Committed
Investors in any other Investor Group, the “Alternate Rate” under this clause
(i) shall be the interest rate per annum set forth in clause (ii) hereof, and
(ii) with respect to any other Investor Group for any Rate Period for any
Portion of Investment, an interest rate per annum equal to the LIBO Rate plus
2.00%.
1.2.
The definition of “Commitment Termination Date” set forth in Section 1.1
of the Transfer and Administration Agreement is hereby amended and restated in
its entirety to read as follows:
“
Commitment Termination Date
” means
October 17, 2013, or such later date to which the Commitment Termination Date
may be extended by the Committed Investors (in their sole discretion).
1.3.
The definition of “CP Rate” set forth in Section 1.1 of the Transfer and
Administration Agreement is hereby amended and restated in its entirety to read
as follows:
“
CP Rate
” means, for
any Conduit Investor for any Rate Period for any Portion of Investment, the
rate equivalent to the rate (or if more than one rate, the weighted average of
the rates) of interest or discount accruing on all Commercial Paper issued by
such Conduit Investor during such Rate Period
plus
if not
included in the calculation of the foregoing rate or discount, any and all
applicable issuing and paying agent fees and commissions of placement agents
and commercial paper dealers in respect of such Commercial Paper and other
costs associated with funding small or odd-lot amounts;
provided
,
however
,
that if the rate (or rates) as agreed between any such agent or dealer and such
Conduit Investor is a discount rate (or rates), the “CP Rate” for such Conduit
Investor for such Rate Period shall be the rate (or if more than one rate, the
weighted average of the rates) resulting from the related Managing Agent’s
converting such discount rate (or rates) to an interest-bearing equivalent rate
per annum. On the fifth Business Day of each calendar month, each Managing
Agent shall calculate the CP Rate for the most recently ended Rate Period and
shall notify the SPV and the Servicer of such CP Rate.
1.4.
Clause (e) of the definition of “Eligible Receivable” appearing in
Section 1.1 of the Transfer and Administration Agreement is hereby amended to
insert the word “not” immediately before the words “a Drummond Receivable”.
1.5.
The definition of “JPMorgan CP Rate” appearing in Section 1.1 of the
Transfer and Administration Agreement is hereby deleted in its entirety.
1.6.
Clause (d)(iii) of Section 2.1 of the Transfer and Administration
Agreement is hereby amended to delete the word “or” appearing immediately
before clause (B) and insert the word “and” in the place thereof.
1.7.
The first sentence of Section 2.7 of the Transfer and Administration
Agreement is hereby amended and restated in its entirety to read as follows:
All amounts to be paid or deposited by the SPV or the Servicer
hereunder shall be paid or deposited in accordance with the terms hereof no
later than 11:00 a.m. (New York City time) on the day when due in immediately
available funds; if such amounts are payable to the Administrative Agent or any
Managing Agent (whether on behalf of any Investor or otherwise) such amounts
shall be paid or deposited in the account indicated for the Administrative
Agent or such Managing Agent, as applicable, under the heading “Payment
Information” on
Schedule
11.3 hereto
, until otherwise notified by the Administrative Agent
or such Managing Agent, as applicable.
1.8.
The portion of clause (a) of Section 9.2 of the Transfer and
Administration Agreement appearing before clause (i) thereof is hereby amended
and restated in its entirety to read as follows:
(a) If
after the Closing Date, any Regulatory Requirement:
1.9.
Clause (a)(ii) of Section 9.2 of the Transfer and Administration
Agreement is hereby amended to insert the phrase “assessment, fee, insurance
charge,” immediately before the words “special deposit or similar requirement”.
1.10.
The paragraph immediately following clause (iii) of Section 9.2(a) of
the Transfer and Administration Agreement is hereby amended to (1) insert the
phrase “, or to require any payment calculated by reference to the amount of
interest or loans held or interest received by,” immediately after the words
“any sum received or receivable by” and (2) delete the words “as will”
appearing immediately before the words “compensate such Indemnified Party” and
insert the phrase “charged to such Indemnified Party or such amounts to
otherwise” in the place thereof.
1.11.
Clause (b) of Section 9.2 of the Transfer and Administration Agreement
is hereby amended and restated in its entirety to read as follows:
(b) If any Indemnified
Party shall have determined that after the date hereof, any Regulatory
Requirement, has or would have the effect of reducing the rate of return on
capital or assets of such Indemnified Party (or its parent) as a consequence of
such Indemnified Party's obligations hereunder or with respect hereto to a
level below that which such Indemnified Party (or its parent) could have
achieved but for such Regulatory Requirement (taking into consideration its
policies with respect to capital adequacy) by an amount deemed by such
Indemnified Party to be material, then from time to time, within ten (10) days
after demand by such Indemnified Party through the Administrative Agent, the
SPV shall pay to the Administrative Agent, for the benefit of such Indemnified
Party, such additional amount or amounts as will compensate such Indemnified
Party (or its parent) for such reduction.
1.12.
Section 9.2 of the Transfer and Administration Agreement is hereby
amended to add the following new paragraph immediately following clause (c)
thereof:
As used herein, “Regulatory
Requirement” shall mean (i) the adoption after the Closing Date of any
applicable Law (including any Law regarding capital adequacy or liquidity
coverage) or any change therein after the Closing Date or (ii) any change after
the Closing Date in the interpretation or administration of any applicable Law
or compliance with any request or directive (whether or not having the force of
law) of any Official Body charged with the interpretation or administration
thereof, or compliance with any request or directive (whether or not having the
force of law) of any such Official Body;
provided
, that for purposes of
this definition (x) the United States bank regulatory rule titled
Risk-Based
Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance;
Regulatory Capital; Impact of Modification to Generally Accepted Accounting
Principles; Consolidation of Asset-Backed Commercial Paper Programs; and Other
Related Issues
adopted on December 15, 2009, (y) the Dodd-Frank Wall Street
Reform and Consumer Protection Program Act and all requests, rules, guidelines
or directives thereunder, issued in connection therewith or in implementation
thereof, and (z) all requests, rules, guidelines and directives promulgated by
the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or
foreign regulatory authorities, shall in each case be deemed to be a
“Regulatory Requirement”, regardless of the date enacted, adopted, issued or
implemented.
1.13.
Clause (a) of Section 9.4 of the Transfer and Administration Agreement
is hereby amended and restated in its entirety to read as follows:
(a)
The SPV agrees, upon receipt of a written invoice, to pay or cause to be
paid, and to save the Investors and the Agents harmless against liability for
the payment of, all reasonable out-of-pocket expenses (including attorneys’,
accountants’ and other third parties’ fees and expenses, any filing fees and
expenses incurred by officers or employees of any Investor and/or the Agents
and rating agency fees) or intangible, documentary or recording taxes incurred
by or on behalf of any Investor or the Agents (i) in connection with the
preparation, negotiation, execution and delivery of this Agreement, the other
Transaction Documents and any documents or instruments delivered pursuant
hereto and thereto and the transactions contemplated hereby or thereby
(including the perfection or protection of the Asset Interest) and (ii) from
time to time (A) relating to any amendments, waivers or consents under this
Agreement and the other Transaction Documents, (B) arising in connection with
any Investor’s or the Agents’ enforcement or preservation of rights (including
the perfection and protection of the Asset Interest under this Agreement), or
(C) arising in connection with any audit, dispute, disagreement, litigation or
preparation for litigation involving this Agreement or any of the other
Transaction Documents (all of such amounts, collectively, “
Transaction
Costs
”).
1.14.
Section 11.2 of the Transfer and Administration Agreement is hereby
amended to add the following as new clause (d) thereof:
(d) Each
Conduit Investor (or its Managing Agent on its behalf) shall, to the extent
required, under a Liquidity Agreement or otherwise, provide written notice of
any amendment, modification or waiver in respect of this Agreement to Moody’s,
S&P or any other rating agency engaged to rate the commercial paper of such
Conduit Investor.
1.15.
Each instance of the phrase “either Managing Agent” appearing in the
Transfer and Administration Agreement is hereby replaced with the phrase “any
Managing Agent”.
1.16.
Schedule II of the Transfer and Administration Agreement is hereby
amended and restated in its entirety as set forth on
Schedule I
hereto.
1.17.
Schedule IV of the Transfer and Administration Agreement is hereby
amended and restated in its entirety as set forth on
Schedule II
hereto.
1.18.
Schedule 11.3 of the Transfer and Administration Agreement is hereby
amended and restated in its entirety as set forth on
Schedule III
hereto.
Section 2.
Conditions Precedent
. This Amendment shall become effective as
of the date hereof (the “
Effective Date
”) upon:
2.1.
the receipt by the Administrative Agent of this Amendment and the Fee
Letter, dated as of the Effective Date (the “
Fee Letter
”), duly executed
by the parties hereto and thereto;
2.2.
the receipt (i) Chariot by of the amounts to be paid to Chariot by
Victory and CRC Funding pursuant to the last sentence of Section 3.1 and (ii)
by BofA of the amount to be paid by Victory to BofA pursuant to the last
sentence of Section 3.1, in each case, by wire transfer of immediately
available funds to the account specified by the applicable payee;
2.3.
the receipt by JPM, for its own account and for the account of Chariot,
of an amount equal to $84,808.78, constituting all accrued Yield, fees and
other Aggregate Unpaids owing to JPM, as Managing Agent and Committed Investor,
and Chariot, as Conduit Investor, as of the date hereof (collectively, the “
Outstanding
JPM Amounts
”), by wire transfer of immediately available funds to the
account specified by JPM to the SPV;
provided
, that JPM and the SPV
shall perform a reconciliation within thirty (30) days of the date hereof, and
if the Outstanding JPM Amounts do not equal $84,808.78, then either (i) the SPV
shall pay to JPM any amount by which the Outstanding JPM Amounts exceed
$84,808.78 or (ii) JPM shall pay to the SPV any amount by which the Outstanding
JPM Amounts are less than $84,808.78;
2.4.
the receipt by each Managing Agent of the upfront fee required to be
paid pursuant to the Fee Letter to such Managing Agent by wire transfer of
immediately available funds to the account specified in the Fee Letter for such
Managing Agent; and
2.5.
the receipt by the Administrative Agent and each Managing Agent,
including Citi, of each of the other items listed on
Schedule IV
hereto,
each in form and substance satisfactory to the Administrative Agent and each
Managing Agent.
Section 3.
Assignment and Assumption
.
3.1.
Effective as of the Effective Date, in each case, without recourse and
without representation and warranty, (x) each of Chariot Funding LLC (“
Chariot
”)
and Bank of America, N.A. (“
BofA
”) hereby sells and assigns to Victory Receivables
Corporation (“
Victory
”), and Victory hereby purchases and assumes from
each of Chariot and BofA, a 6.6667% portion of all of Chariot’s and BofA’s
respective rights and obligations under the Transfer and Administration
Agreement and the other Transaction Documents (except, in the case of BofA, for
any of its obligations as Committed Investor, including, without limitation,
its Commitment), and (y) Chariot hereby sells and assigns to CRC Funding, and
CRC Funding hereby purchases and assumes from Chariot, a 93.3333% portion of
all of Chariot’s rights and obligations under the Transfer and Administration
Agreement and the other Transaction Documents. In consideration of the
foregoing sales and assignments, (i) Victory shall make a payment of (A) $2,380,952.29
to Chariot and (B) $2,380,952.29 to BofA and (ii) CRC Funding shall make a
payment of $33,333,333.42 to Chariot, each such payment to be made in
immediately available funds to the account of the applicable payee as such
payee shall direct.
3.2.
Effective as of the Effective Date, in each case, without recourse and
without representation and warranty, (x) each of JPMorgan Chase Bank, N.A. (“
JPM
”),
in its capacity as a Committed Investor, and BofA, in its capacity as a
Committed Investor, hereby sells and assigns to BTMU, in its capacity as a
Committed Investor, and BTMU, in its capacity as a Committed Investor, hereby
purchases and assumes from each of JPM and BofA, a 6.6667% portion of all of
JPM’s and BofA’s respective rights and obligations under the Transfer and
Administration Agreement and the other Transaction Documents, in its capacity
as Committed Investor (except, in the case of BofA, for its rights assigned to
Victory pursuant to Section 3.1 hereof), and (y) JPM, in its capacity as a
Committed Investor, hereby sells and assigns to Citi, in its capacity as a
Committed Investor, and Citi, in its capacity as a Committed Investor, hereby
purchases and assumes from JPM, in its capacity as Committed Investor, a
93.3333% portion of all of JPM’s rights and obligations under the Transfer and
Administration Agreement and the other Transaction Documents, in its capacity
as a Committed Investor. After giving effect to the foregoing sales and
assignments, the Commitments of the Committed Investors will be as set forth on
Schedule III
of the Transfer and Administration Agreement as amended
hereby.
3.3.
Each of Chariot, JPM and BofA (i) represents and warrants that it is the
legal and beneficial owner of the interest being assigned by it hereunder and
that such interest is free and clear of any Adverse Claim; (ii) makes no
representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with the
Agreement, any other Transaction Document or any other instrument or document
furnished pursuant thereto or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Agreement or the
Receivables, any other Transaction Document or any other instrument or document
furnished pursuant thereto; and (iii) makes no representation or warranty and
assumes no responsibility with respect to the financial condition of any of the
SPV, the Servicer, NSC or the Originator or the performance or observance by
any of the SPV, the Servicer, NSC or the Originator of any of its obligations
under the Agreement, any other Transaction Document, or any instrument or
document furnished pursuant thereto.
3.4.
Each of the Citi Conduits and Citi (i) confirms that it has received a
copy of the Agreement and the First Tier Agreement together with copies of the
financial statements referred to in Section 6.1(a) of the Agreement, to the
extent delivered through the date hereof, and such other documents and
information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Amendment; (ii) agrees that it will, independently
and without reliance upon the Administrative Agent, any of its Affiliates, any
other Committed Investor or Conduit Investor, or any Managing Agent and based
on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
the Agreement and any other Transaction Document; (iii) (A) appoints and
authorizes the Administrative Agent to take such action as agent on its behalf
and to exercise such powers and discretion under the Agreement and the other
Transaction Documents as are delegated to the Administrative Agent by the terms
thereof, together with such powers and discretion as are reasonably incidental
thereto and (B) appoints and authorizes Citi to act as Managing Agent for the
related Investor Group and to take such action as agent on its behalf and to
exercise such powers and discretion under the Agreement and the other
Transaction Documents as are delegated to a Managing Agent by the terms
thereof, together with such powers and discretion as are reasonably incidental
thereto; and (iv) agrees that it will perform in accordance with their terms
all of the obligations which by the terms of the Agreement are required to be
performed by it as a Conduit Investor or Committed Investor, as applicable.
3.5.
Effective as of the Effective Date, (i) each of CRC Funding, LLC, CAFCO,
LLC, CHARTA, LLC and CIESCO, LLC shall be a party to the Agreement and, to the
extent provided in this Section 3, have the rights and obligations of a Conduit
Investor thereunder, (ii) Citi shall be a party to the Agreement and, to the
extent provided in this Section 3, have the rights and obligations of a
Committed Investor thereunder, (iii) there shall be a new Investor Group
consisting of CRC Funding, LLC, CAFCO, LLC, CHARTA, LLC and CIESCO, LLC as the
Conduit Investors, Citi as the Committed Investor and Citi as Managing Agent,
(iv) Chariot, JPM and BofA shall, to the extent of the foregoing assignments,
relinquish their respective rights and be released from their respective
obligations under the Agreement, and (v) Chariot, as Conduit Investor, and JPM,
as Committed Investor and as Managing Agent shall cease to be party to the
Agreement and shall have no further rights or obligations thereunder;
provided
that the provisions of Article IX and Sections 11.11 and 11.12 of the Transfer
and Administration Agreement shall continue in effect for their benefit in
respect of any actions taken or omitted to be taken by any of them as “Conduit
Investor”, “Committed Investor” or “Managing Agent”, as applicable, under the
Transfer and Administration Agreement and the other Transaction Documents prior
to the Effective Date.
3.6.
From and after the Effective Date, the Administrative Agent shall make
all payments under the Agreement in respect of the interest assigned hereby
(including, without limitation, all payments in respect of such interest in Net
Investment, Yield and fees) to the applicable assignees. The assignors and
assignees shall make all appropriate adjustments in payments under the
Agreement for periods prior to the Effective Date directly between themselves.
Section 4.
Representations and Warranties
.
4.1.
Each of the SPV and the Originator hereby represents and warrants that:
(a)
This Amendment, the Transfer and Administration Agreement, as amended
hereby, and the First Tier Agreement, constitute legal, valid and binding
obligations of such parties and are enforceable against such parties in
accordance with their terms.
(b)
Upon the effectiveness of this Amendment and after giving effect hereto,
the covenants, representations and warranties of each such party, respectively,
set forth in Articles IV and VI of the Transfer and Administration Agreement,
as applicable, and as amended hereby, are true and correct in all material
respects as of the date hereof.
(c)
The SPV hereby represents and warrants that, upon the effectiveness of
this Amendment, no event or circumstance has occurred and is continuing which
constitutes a Termination Event or a Potential Termination Event.
Section 5.
Reference to and Effect on the Transfer and Administration Agreement
.
5.1.
Upon the effectiveness of this Amendment, on and after the date hereof,
each reference in the Transfer and Administration Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean
and be a reference to the Transfer and Administration Agreement and its
amendments, as amended hereby.
5.2.
The Transfer and Administration Agreement, as amended hereby, and all
other amendments, documents, instruments and agreements executed and/or
delivered in connection therewith, shall remain in full force and effect, and
are hereby ratified and confirmed.
5.3.
Except as expressly provided herein, the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of the Conduit Investors, the Committed Investors, the Managing
Agents or the Administrative Agent, nor constitute a waiver of any provision of
the Transfer and Administration Agreement, any Transaction Document or any
other documents, instruments and agreements executed and/or delivered in
connection therewith.
Section 6.
CHOICE OF LAW
. THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT
REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THEREOF OTHER THAN SECTION 5-1401
OF THE NEW YORK GENERAL OBLIGATIONS LAW).
Section 7.
Execution of Counterparts
. This Amendment may be executed in any
number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.
Delivery by facsimile of an executed signature page of this Amendment shall be
effective as delivery of an executed counterpart hereof.
Section 8.
Headings
. Section headings in this Amendment are included herein
for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose.
[Signature pages follow.]
In Witness
Whereof
,
the parties hereto have executed and delivered this
Amendment as of the date first written above.
THOROUGHBRED FUNDING, INC.
,
as SPV
By:
/s/ Marta R. Stewart
Name: Marta R. Stewart
Title: Chairman and President
NORFOLK SOUTHERN RAILWAY COMPANY
,
as Originator and as Servicer
By:
/s/ Marta R. Stewart
Name: Marta R. Stewart
Title: Vice President and Treasurer
NORFOLK SOUTHERN CORPORATION
By:
/s/ Marta R. Stewart
Name: Marta R. Stewart
Title: Vice President and
Treasurer
Signature Page to Amendment No. 9 to
Transfer and Administration Agreement
JPMORGAN CHASE BANK, N.A.
,
as a Managing Agent and a
Committed Investor
By:
/s/ Corina Mills
Name: Corina Mills
Title: Executive Director
CHARIOT FUNDING LLC
,
as a Conduit Investor
By: JPMorgan Chase Bank, N.A.,
its Attorney-in-Fact
By:
/s/ Corina Mills
Name: Corina Mills
Title: Executive Director
Signature Page to Amendment No. 9 to
Transfer and Administration Agreement
BANK OF AMERICA, NATIONAL ASSOCIATION
,
as a Managing Agent and a
Committed Investor
By:
/s/ Christopher Haynes
Name: Christopher Haynes
Title: Vice President
Signature Page to Amendment No. 9 to
Transfer and Administration Agreement
Victory Receivables Corporation
,
as
a Conduit Investor
By:
/s/ David V. DeAngelis
Name: David V. DeAngelis
Title: Vice President
THE
BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
NEW
YORK BRANCH
,
as
Administrative Agent and a Managing Agent
By:
/s/ Christopher Pohl
Name: Christopher Pohl
Title: Managing Director
THE
BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
NEW
YORK BRANCH
,
as
a Committed Investor
By:
/s/ Charles Stewart
Name: Charles Stewart
Title: Director
Signature Page to Amendment No. 9 to
Transfer and Administration Agreement
CRC
FUNDING, LLC
, as a Conduit Investor
By:
Citibank, N.A.,
its attorney-in-fact
By:
/s/
Steffen Lunde
Name: Steffen
Lunde
Title: Vice
President
CAFCO,
LLC
, as a Conduit Investor
By:
Citibank, N.A.,
its attorney-in-fact
By:
/s/
Steffen Lunde
Name: Steffen
Lunde
Title: Vice
President
CHARTA,
LLC
, as a Conduit Investor
By:
Citibank, N.A.,
its attorney-in-fact
By:
/s/
Steffen Lunde
Name: Steffen
Lunde
Title: Vice
President
CIESCO,
LLC
, as a Conduit Investor
By:
Citibank, N.A.,
its attorney-in-fact
By:
/s/
Steffen Lunde
Name: Steffen
Lunde
Title:
Vice President
CITIBANK,
N.A.
,
as
a Managing Agent and a Committed Investor
By:
/s/ Steffen Lunde
Name: Steffen Lunde
Title: Vice
President
Signature Page to Amendment No. 9 to
Transfer and Administration Agreement
Schedule I to Amendment No. 9 to
Transfer and Administration Agreement
SCHEDULE II
Investor Groups
BTMU Investor Group
Conduit Investor: Victory
Receivables Corporation
Committed Investor: The Bank
of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
Commitment of The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch: $116,666,667
Managing Agent: The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch
Bank of America
Investor Group
Conduit Investor: N/A
Committed Investor: Bank of
America, N.A.
Commitment of Bank of
America, N.A.: $116,666,667
Managing Agent: Bank of
America, N.A.
Citi Investor Group
Conduit Investors: CRC
Funding, LLC, CAFCO, LLC, CHARTA, LLC and CIESCO, LLC
Committed Investor:
Citibank, N.A.
Commitment of Citibank,
N.A.: $116,666,666
Managing Agent: Citibank,
N.A.
Schedule II to Amendment No. 9 to
Transfer and Administration Agreement
Schedule IV
Special Concentration
Limits
|
Obligor Name
|
Concentration Limit
|
|
J.B. Hunt Transport Service, Inc.
|
6.00%
|
|
Duke Energy Corporation
|
5.00%
|
|
Archer Daniels Midland Company
|
5.00%
|
Schedule III to Amendment No. 9 to
Transfer and Administration Agreement
SCHEDULE 11.3
Address
and Payment Information
|
|
|
|
If to Bank of America:
214 North Tryon Street
NC1-027-15-04
Charlotte, NC 28202
Attn: Securitization
Finance Group
Fax: (980) 387-2828
Tel: (980) 388-9464
Payment Information:
Bank of America, N.A.
ABA: 026-009-593
Account Name: Bilateral
Clearing Acct.
Ref: Thoroughbred Funding, Inc.
Account Number: 004426457864
If to Victory Receivables
Corporation:
c/o
The Bank of Tokyo-Mitsubishi UFJ, Ltd.,
New
York Branch
1251
Avenue of the Americas
New
York, New York 10020
Attention:
Securitization Group
Fax:
(212) 782-6448
Tel: (212) 782-4911
|
|
If to The Bank of
Tokyo-Mitsubishi UFJ, Ltd.,
New York Branch:
1251
Avenue of the Americas
New
York, New York 10020
Attention:
Securitization Group
Fax:
(212) 782-6448
Tel: (212) 782-4911
Payment Information:
The Bank of Tokyo-Mitsubishi
UFJ, Ltd.
Account Title: VRC
ABA: 026-009-632
Account Number: 310-051-428
Ref: Thoroughbred Funding
Inc.
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|
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If to Citibank, N.A.:
390 Greenwich Street, 1st Floor
New York, New York 10013
Attn: Junette Earl
Fax: (646) 843-3661
Tel: (212) 723-3704
|
|
|
Payment Information:
Citibank NA
ABA: 021000089
Account Name CRC LLC REDEMPTION
A/C
Account Number: 40517805
|
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|
If to CRC Funding, LLC, CAFCO,
LLC, CHARTA, LLC or CIESCO, LLC:
c/o Citibank, N.A.
750 Washington Street
Stamford, CT 06901
Attn: Bob Kohl
Fax: (914) 274-9038
Tel: (203) 975-6383
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|
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If to the SPV:
|
|
|
Thoroughbred Funding, Inc
|
|
|
Three Commercial Place
|
|
|
Norfolk, VA 23510
|
|
|
Telephone:
|
(757) 629-2780
|
|
|
Facsimile:
|
(757) 629-2361
|
|
|
|
|
|
Payment Information:
|
|
|
Wells Fargo Bank, National
Association
|
|
|
ABA: 121000248
|
|
|
Account Number: 2000035260855
|
|
|
Ref: Thoroughbred Funding Inc
Norfolk, VA
|
|
|
|
|
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If to the Originator, NSC or
the Servicer:
|
|
|
|
|
|
Norfolk Southern Railway
Company
|
|
|
Norfolk Southern Corporation
|
|
|
Three Commercial Place
|
|
|
Norfolk, VA 23510
|
|
|
Telephone:
|
(757) 629-2780
|
|
|
Facsimile:
|
(757) 629-2361
|
|
|
|
|
|
If
to the Administrative Agent:
|
|
|
1251 Avenue of the Americas
New York, New York 10020
Attention: Securitization Group
Fax: (212) 782-6448
Tel:
(212) 782-4911
|
|
|
|
|
|
Payment Information:
The Bank of Tokyo-Mitsubishi
UFJ, Ltd.
Account Title: VRC
ABA: 026-009-632
Account Number: 310-051-428
Ref: Thoroughbred Funding
Inc.
|
|
|
Schedule IV to Amendment No. 9 to
Transfer and Administration Agreement
[CLOSING CHECKLIST]