EFCAR, LLC Enters Capital Contribution Agreement for Auto Receivables Trusts

What Happened

• EFCAR, LLC reported on Form 8-K (filed Sept 22, 2026) that on Sept 16, 2026 it entered into a Capital Contribution Agreement (dated Sept 15, 2026) with Exeter Finance LLC and four securitization vehicles: Exeter Automobile Receivables Trust 2022-2, 2022-3, 2022-4 and 2022-5.
• The agreement, acknowledged by Citibank, N.A. as indenture trustee, provides that EFCAR, LLC, as the equity holder of each listed trust, may make certain limited capital contributions to those trusts.

Key Details

• Agreement entered: September 16, 2026 (agreement dated September 15, 2026).
• Parties: Exeter Finance LLC; EFCAR, LLC; Exeter Automobile Receivables Trusts 2022-2, 2022-3, 2022-4, 2022-5; acknowledged by Citibank, N.A. (indenture trustee).
• Subject: EFCAR, LLC may make limited capital contributions to each of the four named trusts.
• Exhibit filed: Capital Contribution Agreement included as Exhibit 4.11 to the 8-K.

Why It Matters

• This is a material definitive agreement (Item 1.01) that documents and limits EFCAR’s ability to provide additional capital to the named receivables trusts.
• For investors, the agreement clarifies the contractual mechanism by which EFCAR, as equity holder, can support those trusts if contributions are required; it may affect the company’s capital commitments and relationships with the trusts and the indenture trustee.