---
schema_version: "secwatch.filing_event.v1"
accession: "0000929638-23-002038"
form_type: "8-K"
ticker: null
cik: "0001654238"
company_name: "EFCAR, LLC"
filed_at: "2023-07-18T23:59:59+00:00"
generated_at: "2026-06-13T07:05:09.073826+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Exeter Auto Receivables Trust 2021-1 trust agreement amended: minimum denomination reduced to $1,001

## Summary
- Amendment No. 2 lowers minimum certificate denomination to $1,001 (integral multiples of $1), effective July 13, 2023.
- Updates 99-holder limitation with expanded group look-through per Treasury Reg. 1.385-1(c)(4) and flow-through entity rules.
- EFCAR, LLC (Certificate Owner of $44,760 Book-Entry) and Exeter Flow Intermediary Trust (Certificateholder of $41,080 Definitive) authorized the amendment.
- All conditions precedent satisfied; Wilmington Trust Company remains Owner Trustee.

## SEC filing metadata
- accession: 0000929638-23-002038
- form_type: 8-K
- cik: 0001654238
- company_name: EFCAR, LLC
- filed_at: 2023-07-18T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1654238/000092963823002038/0000929638-23-002038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1654238/000092963823002038/eart2021-1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000929638-23-002038
- JSON: https://secwatch.observer/filing/0000929638-23-002038.json
- Plain text: https://secwatch.observer/filing/0000929638-23-002038.txt

## Key facts
- Governance Changes
  EFCAR, LLC: Amendment to trust agreement to change minimum denomination of certificates and make related amendments (effective 2023-07-13).
  - Effective: 2023-07-13
  source text: On July 13, 2023, EFCAR, LLC and Wilmington Trust Company entered into Amendment No. 2, dated as of July 13, 2023, to that certain Amended and Restated Trust Agreement of Exeter Auto Receivables Trust 2021-1, dated as of December 31, 2020, for the purpose of changing the minimum denomination of the certificates and making certain other related amendments thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1654238/000092963823002038/0000929638-23-002038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.