Aramark

ARAMARK Receivables, LLC operates as a special purpose entity established to facilitate receivables financing arrangements for ARAMARK Services, Inc., which serves as the master servicer under this Second Amended and Restated Receivables Purchase Agreement dated July 19, 2023. The agreement represents a securitization structure whereby receivables are purchased from originators and held by the seller entity, with funding provided through multiple purchaser groups including committed purchasers and conduit purchasers.

The transaction establishes a $600,000,000 purchase limit with multiple funding sources. The purchaser groups include Coöperatieve Rabobank U.A. (New York Branch), The Toronto-Dominion Bank with GTA Funding LLC as a conduit purchaser, Sumitomo Mitsui Banking Corporation with Manhattan Asset Funding Company LLC as a conduit purchaser, and Wells Fargo Bank, National Association serving as both a purchaser and administrative agent. Wells Fargo Bank, National Association also functions as the administrative agent overseeing the entire facility.

The receivables purchase agreement establishes a comprehensive framework for ongoing purchases, collections, and payments. Funding mechanisms include commercial paper issuance by conduit purchasers, liquidity fundings, and alternate fundings from committed purchasers. The structure incorporates settlement procedures, yield calculations based on term SOFR reference rates with provisions for benchmark replacement, and detailed amortization event triggers that activate mandatory paydown provisions.

The agreement includes extensive representations and warranties regarding the seller's organization, authority, compliance with applicable laws, and the quality of receivables transferred. The master servicer assumes responsibility for collections administration, reporting, and compliance monitoring. The transaction documents establish collection account arrangements, lock-box procedures, and detailed servicing fee structures. The facility includes provisions for optional reductions, required reductions based on investment limits, and a clean-up call allowing the seller to repurchase all outstanding receivable interests once the invested amount falls below ten percent of the original purchase limit.