subject to a minimum increase of 2% per year and a maximum increase of 5% per year. Total expense related to these lease
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we entered into a lease with DriveTime that governs our utilization of office space and parking spaces at retail facilities that we
Carvana entered into a sublease agreement with DriveTime for an inspection and reconditioning center near Cleveland
and will further increase during each extension term over the then-current base rent by an amount equal to the percentage
with a maximum of 15% and a minimum of 10%.
including Ally Bank and Ally Financial (collectively
and the 2017 Master Transfer Agreement’s purchase commitment
DriveTime also administers a portion of our GAP waiver coverage and the limited warranty provided to all customers under
which was amended and restated on April 14
and each party agrees to certain covenants not to sue the other party
which is payable semi-annually in arrears on April 1 and October 1 of each year beginning April 1
purchased notes reflecting $25.0 million of outstanding principal and subsequently sold a portion. As of December 31
and the information is not necessarily indicative of
it is our understanding that the persons and entities named in the table have
including the election of directors. The Class A common stock and Class B common stock vote as a