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CACC > SEC Filings for CACC > Form 8-K on 23-Jul-2014All Recent SEC Filings

Show all filings for CREDIT ACCEPTANCE CORP

Form 8-K for CREDIT ACCEPTANCE CORP


23-Jul-2014

Entry into a Material Definitive Agreement, Creation of a Direct Financial


Item 1.01 Entry into a Material Definitive Agreement.

The information set forth below under Item 2.03 is hereby incorporated by reference into this Item 1.01.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On July 18, 2014, Credit Acceptance Corporation (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") executed the Second Amendment to the Fifth Amended and Restated Loan and Security Agreement ("Warehouse Amendment") dated as of July 18, 2014 among the Company, CAC Warehouse Funding Corporation II, Variable Funding Capital Company LLC, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association. The Warehouse Amendment extends the date on which our $325.0 million revolving secured warehouse facility will cease to revolve from December 27, 2015 to July 18, 2017. There were no material changes to the terms of the facility.

As of July 18, 2014, we had $162.6 million outstanding under the facility.

Item 8.01 Other Events.

On July 18, 2014, we issued a press release announcing the execution of the Warehouse Amendment. The press release is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

4.125        Second Amendment to the Fifth Amended and Restated Loan and Security
             Agreement dated as of July 18, 2014 among the Company, CAC Warehouse
             Funding Corporation II, Variable Funding Capital Company LLC, Wells
             Fargo Securities, LLC, and Wells Fargo Bank, National Association.
4.126        First Amendment to the Amended and Restated Backup Servicing Agreement
             dated as of July 18, 2014 among the Company, CAC Warehouse Funding
             Corporation II, Wells Fargo Securities, LLC, and Wells Fargo Bank,
             National Association.
99.1         Press Release dated July 18, 2014


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