DRIVETIME SALES & FINANCE COMPANY, LLC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 28, 2013 Newswires
Share
Share
Post
Email

DRIVETIME SALES & FINANCE COMPANY, LLC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Edgar Online, Inc.

Item 1.01. Entry into a Material Definitive Agreement.

DriveTime Automotive Group, Inc., a Delaware corporation ("DTAG"), and DT Acceptance Corporation, an Arizona corporation ("DTAC" and together with DTAG, the "Issuers") are co-issuers, jointly and severally of the 12.625% Senior Secured Notes Due 2017 (the "Notes") pursuant to the Indenture, dated as of June 4, 2010 (the "Indenture") among the Issuers, the Guarantors party thereto and Wells Fargo Bank, National Association, as Trustee and Collateral Agent (the "Trustee"). All capitalized terms used and not defined herein have the same meanings herein as set forth in the Indenture. On May 21, 2013, the Issuers, the Trustee and the Guarantors entered into the Fifth Supplemental Indenture (the "Fifth Supplemental Indenture") whereby the Indenture was amended to correct a defect of the Indenture to exclude Unrestricted Subsidiaries from the application of Section 4.10. Section 4.10 of the Indenture requires that if any Issuer or any of its Restricted Subsidiaries acquires or creates another Subsidiary after the Issue Date (other than a Foreign Subsidiary, Insurance Subsidiary or Special Purpose Subsidiary) then, among other requirements, such Issuer or Restricted Subsidiary shall cause such Subsidiary to become a Guarantor of the Notes. Section 11.09 of the Indenture provides that the "Note Guarantee of a Guarantor will terminate upon … the designation in accordance with [the] Indenture of the Guarantor as an Unrestricted Subsidiary". Accordingly, the inconsistency between Section 4.10 and Section 11.09 of the Indenture was a defect because any Issuer or Restricted Subsidiary that designates an acquired or created Subsidiary as an Unrestricted Subsidiary upon or prior to acquisition or creation of such Subsidiary would be required under Section 4.10 of the Indenture to cause such Unrestricted Subsidiary to sign a Note Guarantee which would be immediately and automatically terminated by operation of Section 11.09 of the Indenture. The foregoing description of the Indenture and the Fifth Supplemental Indenture is only a summary, does not purport to be complete and is qualified in its entirety by reference to the Indenture which is filed as Exhibit 4.1.1 to the Amendment No. 1 to the Form S-4 Registration Statement filed on October 19, 2010, and the Fifth Supplemental Indenture, which is filed as Exhibit 4.1 to this Current Report on Form 8-K and are incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

--------------------------------------------------------------------------------

  Exhibit Number     Description    4.1     Fifth Supplemental Indenture, dated May 21, 2013, by and among            DriveTime Automotive Group, Inc., DT Acceptance Corporation, Wells            Fargo Bank, National Association, as Trustee and Collateral Agent and            the Guarantors.      

--------------------------------------------------------------------------------

Wordcount:  424

Newer

DRIVETIME CAR SALES COMPANY, LLC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Advisor News

  • Your client’s $3 million portfolio doesn’t tell you their insurance needs
  • How life insurance can provide liquidity for wealthy families
  • Retirement providers turn to digital engagement to retain assets
  • Looking out for clients with diminished mental capacity
  • House panel advances CLEAR Forms Act backed by IRI
More Advisor News

Annuity News

  • What lower interest rates mean to annuity payouts
  • AM Best downgrades A-Cap insurers amid financial and regulatory troubles
  • Lawsuit claims Delaware Life hid billions in insurer-linked investments
  • AM Best to Deliver Presentation at 2026 ACLI Annual Conference
  • Global Atlantic Announces Launch of ForeLifetime Income, a New Fixed Index Annuity
More Annuity News

Health/Employee Benefits News

  • Idaho lawmakers hope to ensure timely doctor payments, treatment approvals in Medicaid transition
  • Warner calls for low-cost public health coverage Warner calls for low-cost public health coverage
  • Healthcare Budgeting: Health Savings Account or Flexible Spending Account
  • What's changed for Sacramento social services 15 months after Trump's Big Beautiful Bill?
  • CMS REFOCUSES MEDICAID QUALITY ON HEALTH OUTCOMES, LAUNCHES INNOVATIVE PARTNERSHIP WITH 37 STATES
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • Life insurance protects dependent loved ones
  • AM Best Affirms Credit Ratings of Horace Mann Educators Corporation and Its Subsidiaries
  • Abacus Global Management Completes Landmark $400 Million Securitization
  • New Rules: This bill could help cannabis companies finally get insurance coverage
  • Time to revisit your clients’ life insurance coverage
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.