EXHIBIT 4.10
THIRD AMENDMENT TO
THE FIFTH AMENDED AND RESTATED
REVOLVING CREDIT AND TERM LOAN AGREEMENT
This Third Amendment (the "Amendment"), dated as of December 14, 2001,
is among NATIONSRENT, INC., a Delaware corporation (the "Parent"), and its
Subsidiaries (collectively with the Parent, the "Borrowers"), the lending
institutions listed on the signature pages hereto (collectively, the "Lenders"),
FLEET NATIONAL BANK, as administrative agent for the Lenders (the
"Administrative Agent"), BANKERS TRUST COMPANY, as syndication agent for the
Lenders (the "Syndication Agent"), and THE BANK OF NOVA SCOTIA, as documentation
agent for the Lenders (the "Documentation Agent"). Capitalized terms used herein
unless otherwise defined herein shall have the respective meanings set forth in
the Credit Agreement (as hereinafter defined).
WHEREAS, the Borrowers, the Lenders, the Administrative Agent, the
Syndication Agent and the Documentation Agent are parties to that certain Fifth
Amended and Restated Revolving Credit and Term Loan Agreement, dated as of
August 2, 2000 (as amended by that certain First Amendment to Fifth Amended and
Restated Revolving Credit and Term Loan Agreement, dated as of March 14, 2001
and that certain Second Amendment to Fifth Amended and Restated Revolving Credit
and Term Loan Agreement, dated as of August 10, 2001, the "Credit Agreement");
and
WHEREAS, the Borrowers have requested that certain of the Revolving
Credit Lenders agree to extend a debtor in possession revolving credit facility
(the "DIP Financing") in the event that any Borrower becomes a debtor under the
federal Bankruptcy Code, and the Lenders have agreed, on the terms and subject
to the conditions set forth herein, to make certain changes to the Credit
Agreement in connection with the possible extension of the DIP Financing;
NOW, THEREFORE, in consideration of the premises contained herein, and
for other good and valuable consideration, the receipt and sufficiency of which
are acknowledged, the parties hereto agree as follows:
1. AMENDMENTS TO SS.1.1. Section 1.1 of the Credit Agreement is hereby
amended by (a) adding the following new definition in proper alphabetical order:
DIP FACILITY. A debtor in possession revolving credit facility
entered into or to be entered into by the Borrowers as debtors in
possession under Chapter 11 of the federal Bankruptcy Code, lenders
including certain of the Revolving Credit Lenders, and Fleet National
Bank and/or Bankers Trust Company as agents. The term includes any
facility refinancing the DIP Facility if Fleet National Bank, Bankers
Trust Company or one of their respective affiliates is the agent, and
one or more of the Revolving Credit Lenders are lenders, under that
facility. The term does not include a credit facility to the extent
that the aggregate principal amount of the facility at the time
outstanding exceeds the sum of $75,000,000.
and (b) by deleting both instances of the words "three (3), six (6) or, if
available and allowed by all Lenders making or converting such Loan, twelve (12)
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months" in the definition of "INTEREST PERIOD" and replacing them in both
instances with the words "or three (3) months".
2. AMENDMENT TO SS.13. Section 13 of the Credit Agreement is hereby
amended by inserting in the fifth line of ss.13.4 after the words "such monies
shall," the new words ", subject to the provisions of ss.13.5(e)," and by adding
after ss.13.4 the following new ss.13.5:
SS.13.5. TRUE UP.
(a) If, on the True Up Date, the Base Percentage of any Lender
varies from the True Up Date Risk Percentage of such Lender, the
Lenders, on the True Up Date, will make such acquisitions, dispositions
and other arrangements with one another, whether by way of purchase,
sale, participation, contribution, distribution, PRO TANTO assumption
or assignment of claims, subrogation or otherwise, as shall result in
each Lender's True Up Date Risk Percentage being equal (as nearly as
may be) to such Lender's Base Percentage.
(b) The Administrative Agent shall establish reasonable
procedures to implement such arrangements among the Lenders. Such
procedures may include requiring the Lenders whose True Up Date Risk
Percentages are less than their Base Percentages on the True Up Date to
make payments to the Administrative Agent for distribution to the
Lenders whose True Up Date Risk Percentages are greater than their Base
Percentages on the True Up Date. The Borrowers agree to cooperate with
the Administrative Agent and the Lenders by issuing such promissory
notes and other evidences of indebtedness to confirm the amounts owed
to each Lender after giving effect to such arrangements.
(c) In the event that any Specified Obligations owed to any
Lender on any True Up Date consist of Letter of Credit Participations
and, pursuant to ss.13.5(a), another Lender (an "Assuming Lender")
assumes all or a portion of the liability of such Lender in respect of
such Letter of Credit Participations, the Assuming Lender agrees to
indemnify and hold the other Lender harmless from any against any loss,
cost or expense sustained or incurred by the other Lender as a result
of the failure of the Assuming Lender to satisfy that liability.
(d) No assignment by any Lender made pursuant to ss.18 of any
of the Obligations owed to such Lender shall release such Lender from
its obligations to the other Lenders under this ss.13.5.
(e) From and after the True Up Date, the following provisions
shall apply:
(1) The Administrative Agent will distribute all
payments to be applied to interest on or principal of the
Loans or to pay or cash collateralize Reimbursement
Obligations so that, after giving effect to such payments, the
percentage which the Specified Obligations owed to each Lender
bears to the Specified Obligations owed all of the Lenders
equals (as nearly as may be) such Lender's Base Percentage.
(2) Any expense reimbursement or indemnification
obligations of the Lenders in favor of any of the Agents
pursuant to ss.16 or any other provisions of any of the Loan
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Documents shall be allocated among the Lenders in accordance
with their Base Percentages.
(3) Any sharing of payments among the Lenders
pursuant to ss.ss.14 or 28(b) shall be made in accordance with
the Lenders' Base Percentages.
(4) The provisions of this ss.13.5(e) shall control
over other provisions of this Credit Agreement that would
otherwise require such payments to be made or obligations to
be allocated among the Lenders other than in accordance with
their Base Percentages.
(f) For purposes of this ss.13.5, the following terms shall
have the following meanings:
(i) "Base Percentage" means, with respect to any
Lender, the percentage which the Specified Obligations owed to
such Lender on October 1, 2001, bears to the Specified
Obligations owed to all of the Lenders on October 1, 2001. The
Base Percentage of each Lender is set forth in the table below
opposite the name of such Lender.
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Lender Base Percentage Dollar Amount
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Bank Austria Creditanstalt 1.46352556892% $11,132,170.66
Corporate Finance, Inc.
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Bank of America, N.A. 3.19590825078% $24,309,377.86
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Washington Mutual Bank, FA 1.36967496482% $10,418,304.80
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Bankers Trust Company 2.64435270707% $20,114,022.09
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BayView Financial Corporation 0.91311664274% $6,945,536.53
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GMAC Commercial Credit LLC 3.19590825078% $24,309,377.86
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Citibank N.A. 0.76443081953% $5,814,571.69
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Citicorp Del-Lease, Inc. 2.28279160564% $17,363,841.31
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Citizens Bank of Massachusetts 1.36967496482% $10,418,304.80
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Continental Casualty Company 1.62769863792% $12,380,937.79
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Credit Lyonnais New York Branch 2.28279160564% $17,363,841.31
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Credit Suisse First Boston 0.31959082508% $2,430,937.79
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Dime Commercial Corp. 1.36967496482% $10,418,304.80
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Erste Bank 1.46352556892% $11,132,170.66
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The Fifth Third Bank, Central Ohio 1.36967496482% $10,418,304.80
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First Bank Texas, N.A. 0.91311664274% $6,945,536.53
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Fleet National Bank 6.06132649616% $46,104,914.33
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General Electric Capital Corporation 1.82623328260% $13,891,073.03
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Xxxxxxxx Bank, N.A. 1.36967496482% $10,418,304.80
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Huntington National Bank 2.28279160564% $17,363,841.31
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LaSalle Bank National Association 3.19590825078% $24,309,377.86
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National City Bank 1.48620029037% $11,304,643.81
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Perry Principles, LLC 0.31959082492% $2,430,937.78
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RZB Finance 0.45655832113% $3,472,768.26
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SunTrust Bank 1.36967496482% $10,418,304.80
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The Bank of Nova Scotia 4.00000000000% $31,254,914.33
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Union Bank of California, N.A. 3.58432601220% $27,263,841.31
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Union Planters Bank 1.36967496482% $10,418,304.80
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Allstate Life Insurance Co. 0.22588129626% $1,718,145.00
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Amico CDO Series 2000-A 0.09039156454% $687,555.00
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Ares Leveraged Investment Fund II 0.64686260006% $4,920,300.00
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Ares Leveraged Investment 0.64686260006% $4,920,300.00
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Ares III CLO LTD 0.44902937026% $3,415,500.00
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Ares IV CLO LTD 0.32538360164% $2,475,000.00
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Paribas Capital Funding 1.93277859374% $14,701,500.00
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First Dominion Funding I 1.03081524999% $7,840,800.00
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First Dominion III 1.54622287499% $11,761,200.00
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KZH-Cypress Tree I LLC 0.16171565001% $1,230,075.00
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CypressTree Investment Partners I LTD 0.51801069381% $3,940,200.00
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CypressTree Investment Partners II 0.13015344066% $990,000.00
LTD
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First All America Financial Life 0.06442595312% $490,050.00
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Senior Debt Portfolio 1.60837114290% $12,233,925.00
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Xxxxxxx 0.27332222538% $2,079,000.00
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Fernwood Restructuring/ Intermarket 0.16171565001% $1,230,075.00
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First Source Financial LLP 1.61064882812% $12,251,250.00
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First Union National Bank 1.65288296227% $12,572,500.00
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Flagship CLO 2000-1 0.65076720328% $4,950,000.00
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Franklin Floating Rate Trust 4.19419462513% $31,902,750.00
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Franklin CLO I LTD 0.83948969223% $6,385,500.00
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Franklin Fl Rate Master Series 0.45553704230% $3,465,000.00
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Greenwich International LTD. 0.65076720328% $4,950,000.00
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Xxx Capital Funding LP 1.31468121875% $10,000,000.00
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Indosuez Captial Funding III 0.64425953125% $4,900,500.00
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Indosuez Captial Funding XX XX 1.61390266413% $12,276,000.00
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Indosuez Capital Fund VI LTD 0.58569048295% $4,455,000.00
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Indosuez Capital Fund II 1.29502673453% $9,850,500.00
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Archimedes Funding II, LTD 0.64425953125% $4,900,500.00
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Sequils ING I (HEDGM) LTD 0.64425953125% $4,900,500.00
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Archimedes Funding III, LLC 0.80532441406% $6,125,625.00
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Swiss Life US Rainbow 0.38655571875% $2,940,300.00
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Nemean CLO LTD 0.65076720328% $4,950,000.00
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Archimedes Funding, LLC 0.64425953125% $4,900,500.00
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Archimedes Funding IV 0.65076720328% $4,950,000.00
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The XX Xxxxxx Xxxxx Bank 1.30153440656% $9,900,000.00
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Simsbury CLO, LTD 0.64425953125% $4,900,500.00
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Longhorn CDO (Cayman) LTD 0.64425953125% $4,900,500.00
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Xxxxxxx Xxxxx Senior Floating Rate 0.90196334374% $6,860,700.00
Fund, Inc.
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Master Senior Floating Rate Trust 0.38655571875% $2,940,300.00
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Xxxxxx Xxxxxxx Xxxx Xxxxxx Prime 3.87857253154% $29,502,000.00
Income
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The Prudential Insurance Company of 0.57788127651% $4,395,600.00
America
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Great Point CLO 1999-1 0.38655571875% $2,940,300.00
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Xxxxx Xxxxx XXX 0000-0 LTD 0.38655571875% $2,940,300.00
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Xxxxx Xxx & Xxxxxxx 0.32212976562% $2,450,250.00
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Xxxxx Xxx Floating Rate 0.39440436584% $3,000,000.00
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Liberty Xxxxx Xxx Advisors 0.26293624377% $2,000,000.00
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Sequils I LTD 0.65076720328% $4,950,000.00
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Sequils IV LTD 0.45553704230% $3,465,000.00
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Captiva 2 Finance LTD 0.19523016098% $1,485,000.00
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Toronto-Dominion Bank 0.00000000000% $3,920,400.00
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Xxx Xxxxxx CLO II, LTD 0.30020760617% $2,283,501.14
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Xxx Xxxxxx Senior Income Trust 1.58809823921% $12,079,721.05
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Xxx Xxxxxx Prime Rate Inc. Trust 1.78423387637% $13,571,608.47
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Xxx Xxxxxx CLO I, LTD 0.70048441616% $5,328,169.34
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(ii) "Specified Obligations" means Obligations
consisting of interest on or principal of the Loans and Letter
of Credit Participations.
(iii) "True Up Date" means the earlier to occur of
(A) the last Business Day of the calendar month on which the
financing order under the DIP Facility has been entered at a
final hearing before the bankruptcy court hearing the cases
and such order has become a final order and (B) the last
Business Day of the third full calendar month following the
date on which a bankruptcy case is commenced by or against any
of the Borrowers. The financing order will be considered as a
final order at such time as the order has been entered, has
not been reversed, stayed or vacated, and is not or is no
longer subject to appeal, and all appeal periods have lapsed.
(iv) "True Up Date Risk Percentage" means, with
respect to any Lender, the percentage which the Specified
Obligations owed to such Lender on the True Up Date bears to
the Specified Obligations owed to all of the Lenders on the
True Up Date.
(v) For avoidance of doubt, the terms "Obligations"
and "Specified Obligations" do not include obligations under
the DIP Facility.
3. AMENDMENT TO SS.18.1. Section 18.1 of the Credit Agreement is hereby
amended by deleting ss.18.1 in its entirety and replacing it with the following
new ss.18.1:
SS.18.1. CONDITIONS TO ASSIGNMENT BY LENDERS.
Except as provided herein, each Lender may assign to
one or more Eligible Assignees all or a portion of its
interests, rights and obligations under this Credit Agreement
(including all or a portion of its Commitment Percentage and
Commitment and the same portion of the Revolving Credit Loans
and/or all or a portion of its Term Loan at the time owing to
it, the Revolving Credit Note or Term Note held by it and, if
applicable, its participating interest in the risk relating to
any Letters of Credit or Swing Line Loans); PROVIDED that (i)
unless the assignment is to any Lender, any affiliate of any
Lender or any fund that invests in loans and is managed by any
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Lender or affiliate of any Lender, the Administrative Agent
shall have given its prior written consent to such assignment,
such consent not to be unreasonably withheld, (ii) each such
assignment shall be of a constant, and not a varying,
percentage of all the assigning Lender's rights and
obligations under in respect of such Lender's Revolving Credit
Loans or Term Loan, (iii) unless the assignment is to any
Lender, any affiliate of any Lender or any fund that invests
in loans and is managed by any Lender or affiliate of any
Lender, each assignment shall be in a minimum amount of
$2,500,000 or, if less, the entire Commitment or portion of
the Term Loan of such Lender, and (iv) the parties to such
assignment shall execute and deliver to the Administrative
Agent, for recording in the Register (as hereinafter defined),
an Assignment and Acceptance, substantially in the form of
EXHIBIT E hereto or other forms approved by the Administrative
Agent (an "Assignment and Acceptance"), together with any
Notes subject to such assignment. Upon such execution,
delivery, acceptance and recording, from and after the
effective date specified in each Assignment and Acceptance,
which effective date shall be at least five (5) Business Days
after the execution thereof, (i) the assignee thereunder shall
be a party hereto and, to the extent provided in such
Assignment and Acceptance, have the rights and obligations of
a Lender hereunder, and (ii) the assigning Lender shall, to
the extent provided in such assignment and upon payment to the
Administrative Agent of the registration fee referred to in
ss.18.3 and except as provided in ss.13.5, be released from
its obligations under this Credit Agreement.
4. AMENDMENT TO SS.27. Section 27 of the Credit Agreement is hereby
amended by deleting ss.27(f) in its entirety and replacing it with the following
new ss.27(f):
"(f) amend ss.4.4, ss.5, ss.13.4, ss.13.5, this ss.27, or ss.28;".
5. AMENDMENT TO SS.28. Section 28(a) of the Credit Agreement is hereby
amended by deleting the words "Subject to ss.13.4 and notwithstanding anything
to contrary set forth herein" and by substituting therefor the words "Subject to
ss.ss.13.4 and 13.5:"
6. CONSENTS AND WAIVERS.
(a) Each of the Lenders hereby consents to the subordination of Liens
in favor of the Administrative Agent for the benefit of the Lenders and the
Administrative Agent under the Loan Documents to (i) Liens (the "DIP Liens")
granted for the benefit of the agents and the lenders under the DIP Facility,
and (ii) any "Carve Out" (as defined in the DIP Facility), limited as provided
below, to which the DIP Liens are also subordinated. Each of the Lenders further
consents to the use of cash collateral by the Borrowers so long as there is a
DIP Facility and the obligations of the Borrowers under the DIP Facility have
not been accelerated, or the commitment of the lenders to extend credit under
the DIP Facility has not been terminated, on account of an event of default
under the DIP Facility. Unless otherwise agreed by the Majority Lenders, the
Carve Out shall be limited to fees and expenses of professionals in the Cases
and shall not exceed, following the acceleration of the obligations under the
DIP Facility or the termination of the commitment to extend credit thereunder,
the sum of $3,500,000.
(b) Each Lender's consents contained in ss.6(a) are conditioned upon
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the Administrative Agent and the Lenders being granted by the bankruptcy court
adequate protection for, among other things, such subordination and any
diminution in the value of the Collateral caused by the use, sale or lease of
the Collateral, including the use of cash Collateral by the Borrowers. Unless
otherwise approved by the Majority Lenders, adequate protection shall be in the
form of (i) interest payments on the principal of the Loans, such interest
payments to be calculated at the non-default rate and to be made substantially
as and as when set forth, under the Credit Agreement and (ii) replacement Liens
and superpriority claims, junior to those granted under the DIP Facility and in
otherwise in form and substance satisfactory to the Administrative Agent and the
Syndication Agent.
(c) To the extent that the DIP Facility imposes duties on the agent or
agents thereunder in favor of the Lenders, the Lenders appoint the agent or
agents as their agents to perform such duties and agree to indemnify and to
exculpate the agent or agents in the performance of such duties upon the same
terms as the terms on which indemnification and exculpation are provided to the
Administrative Agent under the Credit Agreement. To the extent that the initial
DIP Facility, as approved by the bankruptcy court hearing the cases, contains an
express representation, warranty, covenant or condition in favor of the Lenders,
such representation, warranty, covenant or condition may not be modified in any
manner adverse to the Lenders in any material respect without the prior written
consent of the Majority Lenders.
(d) Each of the Lenders hereby waives the condition in ss.2.5 of the
Credit Agreement that there be no Default or Event of Default for the Loans to
bear interest by reference to the Eurodollar Rate. Such waiver shall be
suspended while a default or event of default is continuing under the DIP
Facility. Such waiver shall expire, and be of no further force or effect, on
February 28, 2002, if the financing order under the DIP Facility has not been
entered at a final hearing before the bankruptcy court hearing the cases, and
such order has become a final order, by that date. Otherwise such waiver shall
expire, and be of no further force or effect, on December 1, 2002. Any
suspension or the expiration of such waiver shall not require the immediate
conversion of Eurodollar Rate Loans then outstanding. However, during any such
suspension or upon and following the expiration of such waiver, any Eurodollar
Rate Loans then outstanding shall convert to Base Rate Loans at the end of the
Interest Periods applicable to such Eurodollar Rate Loans.
(e) Notwithstanding the existence of one or more Defaults or Events of
Default, each of Lenders consents to the issuance of one or more Letters of
Credit to support, or the Administrative Agent permitting the Collateral to be
charged in order to pay for, obligations of any of the Borrowers owing to its
former employees in connection with severance arrangements, all in the
discretion of, and upon terms and conditions satisfactory to, the Administrative
Agent. The total amount of obligations supported by such Letters of Credit or to
be paid by the charging of the Collateral may not exceed $1,000,000 in the
aggregate.
7. CONDITIONS TO EFFECTIVENESS.
(a) Except as provided in Section 7(b), this Amendment shall
become effective upon the receipt by the Administrative Agent of
counterparts of this Amendment executed by the Borrowers and the
Majority Lenders.
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(b) Section 2 of this Amendment adding new ss.13.5 (and any
amendment contained herein to the extent modifying a cross-reference to
refer to ss.13.5) shall not become effective until the Administrative
Agent has received counterparts of this Amendment executed by the
Borrowers and all of the Lenders.
8. REPRESENTATIONS AND WARRANTIES. Each Borrower hereby represents and
warrants to the Lenders as follows:
8.1 The representations and warranties of such Borrower
contained in the Credit Agreement, as amended hereby, the other Loan
Documents, or in any document or instrument delivered pursuant to or in
connection with the Credit Agreement were true when made and, as
amended hereby, other than with respect to the representations and
warranties contained in ss.ss.6.4(b), 6.5, 6.7, the second sentence of
6.8, 6.11 and the second sentence of 6.21, continue to be true on the
date hereof (except to the extent of changes resulting from
transactions contemplated or permitted by the Credit Agreement, the
other Loan Documents and this Amendment and changes occurring in the
ordinary course of business which singly or in the aggregate are not
materially adverse, or to the extent that such representations and
warranties related solely and expressly to an earlier date);
8.2 The execution, delivery, and performance by each Borrower
of this Amendment and the consummation of the transactions contemplated
hereby: (i) are within the corporate powers of such Borrower; (ii) have
been duly authorized by all necessary corporate proceedings on the part
of such Borrower; (iii) do not require any approval, consent of, or
filing with, any governmental agency or authority, or any other person,
association or entity, which bears on the validity of this Amendment
and which is required by law or the regulation or rule of any agency or
authority, or other person, association or entity; (iv) do not conflict
with or result in any breach or contravention of any provision of law,
statute, rule, or regulation to which any Borrower is subject or any
judgment, order, writ, injunction, license, or permit applicable to
such Borrower; (v) do not conflict with any provision of the corporate
charter or bylaws of such Borrower; and (vi) do not conflict with any
provision of any agreement or other instrument binding upon such
Borrower in a manner which is reasonably likely to have a material
adverse effect on the Borrowers taken as a whole; and
8.3 This Amendment, the Credit Agreement as amended hereby,
and the other Loan Documents constitute the legal, valid, and binding
obligations of each Borrower, enforceable against each Borrower in
accordance with their respective terms, provided that: (i) enforcement
may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, or similar laws of general application affecting the rights
and remedies of creditors, and (ii) enforcement may be subject to
general principles of equity, and the availability of the remedies of
specific performance and injunctive relief may be subject to the
discretion of the court before which any proceeding for such remedies
may be brought.
9. RATIFICATION. Each of the Borrowers hereby adopts again, ratifies
and confirms in all respects, as its own act and deed, each of the Credit
Agreement, as amended hereby, and the other Loan Documents to which such
Borrower is a party; each of the Borrower hereby adopts again, ratifies and
confirms in all respects, as its own act and deed, the grant of a security
interest under the Security Documents in all
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of the existing and after-acquired or arising goods, accounts, chattel paper,
investment property, documents, instruments, commercial tort claims, deposit
accounts, letter-of-credit rights, general intangibles and other personal
property assets in which any of the Borrower has ownership or other rights,
together with any and all Uniform Commercial Code financing statements and other
instruments or documents previously executed or filed in connection therewith to
create, evidence, perfect or preserve the priority of such security interest in
favor of the Administrative Agent for the benefit of the Lenders and the
Administrative Agent. To the extent that it has not already done so, each
Borrower hereby waives all suretyship defenses of whatsoever nature, whether
arising out of either Agent's or any Lender's dealings with any other Borrower
in respect of the Credit Agreement, any other Loan Document or otherwise.
10. RELEASE. In order to induce the Agents and the Lenders to enter
into this Amendment, each of the Borrowers acknowledges and agrees that: (a)
none of the Borrowers has any claim or cause of action against the Agents or any
Lender (or any of its respective directors, officers, employees or agents); (b)
none of the Borrowers has any offset right, counterclaim or defense of any kind
against any of their respective obligations, indebtedness or liabilities to the
Agents or any Lender; and (c) each of the Agents and the Lenders has heretofore
properly performed and satisfied in a timely manner all of its obligations to
the Borrowers. The Borrowers wish to eliminate any possibility that any past
conditions, acts, omissions, events, circumstances or matters would impair or
otherwise adversely affect any of the Agents' and the Lenders' rights,
interests, contracts, collateral security or remedies. Therefore, each of the
Borrowers unconditionally releases, waives and forever discharges (x) any and
all liabilities, obligations, duties, promises or indebtedness of any kind of
any Agent or any Lender to any of the Borrowers, except the obligations to be
performed by any Agent or any Lender on or after the date hereof as expressly
stated in this Amendment, the Credit Agreement and the other Loan Documents, and
(y) all claims, offsets, causes of action, suits or defenses of any kind
whatsoever (if any), whether arising at law or in equity, whether known or
unknown, which the Borrowers might otherwise have against any Agent, any Lender
or any of its directors, officers, employees or agents, in either case (x) or
(y), on account of any past or presently existing condition, act, omission,
event, contract, liability, obligation, indebtedness, claim, cause of action,
defense, circumstance or matter of any kind.
11. EXECUTION IN COUNTERPARTS; DELIVERY BY FACSIMILE. This Amendment
may be executed in any number of counterparts, each of which shall be an
original but all of which together shall constitute one and the same instrument.
This Amendment, to the extent signed and delivered by means of a facsimile
machine, shall be treated in all manner and respects as an original agreement or
instrument and shall be considered to have the same binding legal effect as if
it were the original signed version thereof delivered in person. At the request
of any party hereto or to any such agreement or instrument, each other party
hereto or thereto shall re-execute original forms thereof and deliver them to
all other parties. No party hereto or to any such agreement or instrument shall
raise the use of a facsimile machine to deliver a signature or the fact that any
signature or agreement or instrument was transmitted or communicated through the
use of a facsimile machine as a defense to the formation of a contract and each
party forever waives such defense.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
-10-
IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Amendment as of the date set forth above.
THE BORROWERS:
NATIONSRENT, INC.
NRGP, INC.
NATIONSRENT USA, INC.
NATIONSRENT WEST, INC.
NATIONSRENT TRANSPORTATION SERVICES, INC.
NR DELAWARE, INC.
XXXXX EQUIPMENT CORP.
NR DEALER, INC.
NR FRANCHISE COMPANY
BDK EQUIPMENT COMPANY, INC.
By:
-----------------------------------------------
Name:
---------------------------------------------
Title:
--------------------------------------------
NATIONSRENT OF INDIANA, LP
By: NRGP, Inc., its general partner
By:
----------------------------------------------
Name:
---------------------------------------------
Title:
--------------------------------------------
NATIONSRENT OF TEXAS, LP
By: NRGP, Inc., its general partner
By:
-----------------------------------------------
Name:
---------------------------------------------
Title:
--------------------------------------------
-11-
THE LENDERS:
FLEET NATIONAL BANK,
individually and as Administrative Agent
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BANKERS TRUST COMPANY, individually and as Syndication Agent
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BANK AUSTRIA CREDITANSTALT CORPORATE FINANCE, INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
WASHINGTON MUTUAL BANK, FA (f/k/a Bank United)
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BAY VIEW FINANCIAL CORPORATION
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-12-
CITICORP DEL-LEASE, INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
CREDIT LYONNAIS NEW YORK BRANCH
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
DIME COMMERCIAL CORP.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ERSTE BANK
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
THE FIFTH THIRD BANK, CENTRAL OHIO
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-13-
FIRST BANK TEXAS, N.A.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
GENERAL ELECTRIC CAPITAL CORPORATION
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXXXXXXX BANK, N.A.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
HUNTINGTON NATIONAL BANK
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-00-
XXXXXXX XXXX NATIONAL ASSOCIATION
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BANK ONE, N.A.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
THE BANK OF NOVA SCOTIA
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SUNTRUST BANK
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
UNION BANK OF CALIFORNIA, N.A.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-00-
XXXXX XXXXXXXX XXXX
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
CITIZENS BANK OF MASSACHUSETTS AS SUCCESSOR TO USTRUST
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-16-
FIRST SOURCE FINANCIAL LLP
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
FIRST UNION NATIONAL BANK
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
FIRST DOMINION FUNDING I
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
FRANKLIN FLOATING RATE TRUST
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-17-
ARCHIMEDES FUNDING, L.L.C.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ARCHIMEDES FUNDING II, LTD
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ARCHIMEDES FUNDING III, L.L.C.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXXXXXX XXXXX SENIOR FLOATING RATE FUND II, INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXXXXXX XXXXX SENIOR FLOATING RATE FUND, INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-18-
XXXXXX XXXXXXX XXXX XXXXXX PRIME INCOME TRUST
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
PARIBAS CAPITAL FUNDING LLC
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ALLSTATE LIFE INSURANCE CO.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-00-
XXXXX XXXXX CLO 1999-1 LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ARES LEVERAGED INVESTMENT FUND, L.P.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ARES LEVERAGED INVESTMENT FUND II, L.P.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ARES III CLO LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BANK OF AMERICA, N.A.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-20-
INDOSUEZ CAPITAL FUNDING IIA LIMITED
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
INDOSUEZ CAPITAL FUNDING III LIMITED
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
INDOSUEZ CAPITAL FUNDING IV LP
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
TORONTO DOMINION (NEW YORK) INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXXXX XXXXX XXX 0000-0, LTD.
By: Sankaty Advisors, Inc., As Collateral Manager
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-21-
FIRSTRUST BANK
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SEQUILS - ING I (HBDGM), LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXXXX XXX & XXXXXXX CLO1 LTD.,
BY XXXXX XXX & FARNHAM INCORPORATED, AS
PORTFOLIO MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BNY FACTORING LLC
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SIMSBURY CLO, LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-22-
FIRST DOMINION FUNDING III
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SRF TRADING, INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SWISS LIFE US RAINBOW
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
LONGHORN CDO (CAYMAN) LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-00-
XXX XXXXXX PRIME RATE INCOME TRUST
BY: XXX XXXXXX INVESTMENT ADVISORY CORP.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXX XXXXXX SENIOR INCOME TRUST
BY: XXX XXXXXX INVESTMENT ADVISORY CORP.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXX XXXXXX CLO I, LIMITED
BY: XXX XXXXXX MANAGEMENT INC.
AS COLLATERAL MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXX XXXXXX CLO II, LIMITED
BY: XXX XXXXXX MANAGEMENT INC.
AS COLLATERAL MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
FRANKLIN FLOATING RATE MASTER SERIES
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-24-
FRANKLIN CLO I, LIMITED
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SEQUILS I, LTD
BY: TCW ADVISORS, INC. AS ITS COLLATERAL MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SEQUILS IV, LTD
BY: TCW ADVISORS, INC. AS ITS COLLATERAL MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
CAPTIVA II FINANCE LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-25-
BNP PARIBAS
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
NATIONAL CITY
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
RZB FINANCE LLC
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
KZH CYPRESSTREE-1, LLC
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
CYPRESSTREE INVESTMENT FUND, LLC
BY: CYPRESS INVESTMENT MANAGEMENT COMPANY, INC.
ITS MANAGING MEMBER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-26-
CYPRESSTREE INSTITUTIONAL FUND, LLC
BY: CYPRESS INVESTMENT MANAGEMENT COMPANY, INC.
ITS MANAGING MEMBER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
NORTH AMERICA SENIOR FLOATING RATE FUND
BY: CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC.,
AS PORTFOLIO MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
AMICO CDO SERIES 2000-A
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
NUVEEN SENIOR INCOME FUND
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
FLAGSHIP CLO 2000-1
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-27-
NEMEAN CLO LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
INDOSUEZ CAPITAL FUNDING VI LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
THE XX XXXXXX XXXXX BANK
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
SENIOR DEBT PORTFOLIO
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
BANK MONTREAL
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
XXXXXXX XXXXX SENIOR FLOATING RATE FUND INC.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
-28-
CYPRESSTREE INVESTMENT PARTNERS I, LTD.
BY: CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC.
AS PORTFOLIO MANAGER
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
ARES IV CLO LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
CONTINENTAL CASUALTY COMPANY
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
FERNWOOD RESTRUCTURINGS LTD.
By:
--------------------------------------------
Name:
--------------------------------------------
Title:
--------------------------------------------
