EXHIBIT 4.11
[EXECUTION COPY]
FOURTH AMENDMENT TO
THE FIFTH AMENDED AND RESTATED
REVOLVING CREDIT AND TERM LOAN AGREEMENT
This Fourth Amendment (this "AMENDMENT"), dated as of December 5, 2002,
is among NATIONSRENT, INC., a Delaware corporation and a debtor and a debtor in
possession (the "PARENT"), and its SUBSIDIARIES, each a debtor and a debtor in
possession (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 (i) that certain First Amendment to Fifth Amended
and Restated Revolving Credit and Term Loan Agreement, dated as of ▇▇▇▇▇ ▇▇,
▇▇▇▇, (▇▇) that certain Second Amendment to Fifth Amended and Restated Revolving
Credit and Term Loan Agreement, dated as of August 10, 2001, and (iii) that
certain Third Amendment to Fifth Amended and Restated Revolving Credit and Term
Loan Agreement, dated as of December 14, 2001 (the "THIRD AMENDMENT" and, as so
amended by such amendments, the "CREDIT AGREEMENT");
WHEREAS, the existing DIP Facility of the Borrowers is scheduled to
expire on December 31, 2002, and the Borrowers contemplate that the existing DIP
Facility will be extended, or replaced with a new debtor in possession credit
facility, with General Electric Capital Corporation acting as agent thereunder;
and
WHEREAS, the Borrowers have requested that the Lenders agree to amend
the definition of the term "DIP Facility" in the Credit Agreement to include a
debtor in possession credit facility for which General Electric Capital
Corporation is the agent;
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. AMENDMENT TO SECTION 1.1. Section 1.1 of the Credit Agreement
is hereby amended by inserting the words "General Electric Capital Corporation,"
before the words "Fleet National Bank" in the first sentence of the definition
of the term "DIP Facility".
2. REAFFIRMATION OF LIEN SUBORDINATION. Each of the Lenders
hereby reaffirms its consent 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 agent or agents and the lenders under the DIP Facility, and (ii) any
"Carve Out" to which the DIP Liens are also subordinated, all as set forth, and
subject to the
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conditions contained, in Section 6 of the Third Amendment as modified by the
Limited Waiver dated September 27, 2002. For purposes of this reaffirmation and
henceforth for purposes of Section 6 of the Third Amendment as so modified, the
term "DIP Facility" has the meaning set forth in the Credit Agreement as amended
by this Amendment.
3. CONDITION TO EFFECTIVENESS. 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.
4. 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]
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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.
▇▇▇▇▇ EQUIPMENT CORP.
NR DEALER, INC.
NR FRANCHISE COMPANY
BDK EQUIPMENT COMPANY, INC.
By: /s/ ▇▇▇▇▇ House
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Name: ▇▇▇▇▇ HOUSE
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Title: CONTROLLER
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NATIONSRENT OF INDIANA, LP
By: NRGP, Inc., its general partner
By: /s/ ▇▇▇▇▇ House
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Name: ▇▇▇▇▇ HOUSE
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Title: CONTROLLER
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NATIONSRENT OF TEXAS, LP
By: NRGP, Inc., its general partner
By: /s/ ▇▇▇▇▇ House
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Name: ▇▇▇▇▇ HOUSE
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Title: CONTROLLER
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LENDERS:
The Bank of Nova Scotia
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Name of Lender
By: /s/ ▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇ ▇▇▇▇▇▇
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Title: DIRECTOR
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LENDERS:
Baupost Group Securities, L.L.C.
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Name of Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇▇ ▇▇▇▇▇▇
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Title: Managing Director
Chief Financial & Administrative Officer
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LENDERS:
BAY VIEW FINANCIAL CORPORATION
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Name of Lender
By: /s/ ▇▇▇▇ ▇. Spring
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Name: ▇▇▇▇ ▇. SPRING
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Title: SENIOR VICE PRESIDENT
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LENDERS:
BT HOLDINGS (NEW YORK), INC.
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Title: Attorney-in-Fact
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ADMINISTRATIVE AGENT:
FLEET NATIONAL BANK, AS ADMINISTRATIVE AGENT
By:
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Name:
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Title:
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LENDERS:
CITIBANK, N.A.
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Name of Lender
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Title: MANAGING DIRECTOR
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LENDERS:
?? BANK OF MASSACHUSETTS
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Name of Lender
By: /s/
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Name: ▇▇▇▇▇▇ ▇. ???
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Title: VICE PRESIDENT
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CREDIT LYONNAIS NEW YORK BRANCH
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Name of Lender
By: /s/▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: SENIOR VICE PRESIDENT
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Deutsche Bank Trust Company America
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Name of Lender
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: VICE PRESIDENT
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▇▇▇▇▇ ▇▇▇▇▇ INSTITUTIONAL SENIOR LOAN FUND
BY: ▇▇▇▇▇ ▇▇▇▇▇ MANAGEMENT
LENDERS: AS INVESTMENT ADVISOR
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Name of Lender
By: /s/ Payson ▇. ▇▇▇▇▇▇▇▇▇
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Name: PAYSON ▇. ▇▇▇▇▇▇▇▇▇
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Title: VICE PRESIDENT
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▇▇▇▇▇ ▇▇▇▇▇ SENIOR INCOME FUND
BY: ▇▇▇▇▇ ▇▇▇▇▇ MANAGEMENT
LENDERS: AS INVESTMENT ADVISOR
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Name of Lender
By: /s/ Payson ▇. ▇▇▇▇▇▇▇▇▇
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Name: PAYSON ▇. ▇▇▇▇▇▇▇▇▇
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Title: VICE PRESIDENT
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LENDERS:
Erste Bank
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Name of Lender
By: /s/ ▇▇▇▇▇▇ Suehnbolz By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
------------------------------------ ----------------------------
Name: ▇▇▇▇▇▇ Suehnbolz ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
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Title: First Vice President Vice President
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LENDERS:
General Electric Capital Corporation
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Name of Lender
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: Risk Manager
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LENDERS:
▇▇▇▇▇▇▇ Sachs Credit Partners L.P.
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Name of Lender
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Title: Authorized Signatory
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▇▇▇▇▇▇▇ & CO.
BY: BOSTON MANAGEMENT AND RESEARCH
LENDERS: AS INVESTMENT ADVISOR
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Name of Lender
By: /s/ Payson ▇. ▇▇▇▇▇▇▇▇▇
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Name: PAYSON ▇. ▇▇▇▇▇▇▇▇▇
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Title: VICE PRESIDENT
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LENDERS:
HUNTINGTON NATIONAL BANK
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Name of Lender
By: /s/
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Name: ▇▇▇▇▇ ▇. ??
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Title: SVP
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INDOSUEZ CAPITAL FUNDING IIA, LIMITED
By: Indosuez Capital as Portfolio Advisor
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Title: Principal and Portfolio Manager
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INDOSUEZ CAPITAL FUNDING III, LIMITED
By: Indosuez Capital as Portfolio Advisor
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Title: Principal and Portfolio Manager
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▇.▇. ▇▇▇▇▇▇ Securities Inc.
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Name of Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇
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Name: ▇▇▇▇ ▇▇▇▇▇
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Title: Managing Director
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LENDERS:
OCM ADMINISTRATIVE SERVICES II,
L.L.C.
By: Oaktree Capital Management, LLC, its Manager
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Name of Lender
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Title: Managing Director
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By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇
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Name: ▇▇▇▇ ▇▇▇▇▇▇▇
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Title: Vice President, Legal
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LENDERS:
PPM America Special Investment Fund, Ltd.
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Name of Lender
By: PPM America, its Attorney-in-fact
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Name: /S/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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Title: VICE PRESIDENT
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LENDERS:
REGIMENT CAPITAL II, L.P.
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Name of Lender
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: GENERAL PARTNER
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LENDERS:
RLB Finance LLC
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Name of Lender
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
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Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
------------------------------------ VICE PRESIDENT
Title: Group Vice President
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LENDERS: SENIOR DEBT PORTFOLIO
By: Boston Management and Research
as Investment Advisor
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Name of Lender
By: /s/ Payson ▇. ▇▇▇▇▇▇▇▇▇
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Name: PAYSON ▇. ▇▇▇▇▇▇▇▇▇
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Title: VICE PRESIDENT
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▇▇▇▇▇ ▇▇▇ FLOATING RATE
LENDERS: LIMITED LIABILITY COMPANY
By: ▇▇▇▇▇ ▇▇▇ & ▇▇▇▇▇▇▇
INCORPORATED AS ADVISOR
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Name of Lender
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Title: SENIOR VICE PRESIDENT
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▇▇▇▇▇ ▇▇▇ & FARNHAM CLO I LTD,
LENDERS:
By: ▇▇▇▇▇ ▇▇▇ & ▇▇▇▇▇▇▇
INCORPORATED AS PORTFOLIO
MANAGER
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Name of Lender
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Title: SENIOR VICE PRESIDENT
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