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United Rentals


8-K
UNITED RENTALS NORTH AMERICA INC filed this Form 8-K on 12/01/2017
Entire Document
 

 

WHEREAS, pursuant to Section 7.01 of the Purchase Agreement, the parties wish to make certain amendments to the Purchase Agreement as hereinafter set forth.

 

NOW, THEREFORE, the parties agree as follows:

 

Section 1.                                           Increase in Purchase Limit and Bank Commitments; Adjustment of Bank Commitments and Percentages.  As of the Effective Date (as defined below):

 

(a)                                 Pursuant to and in accordance with the Purchase Agreement, the Purchase Limit is hereby increased by $100,000,000 and the definition of “Purchase Limit” contained in Exhibit I to the Purchase Agreement is hereby amended by deleting the dollar figure “$675,000,000” contained therein and replacing it with the dollar figure “$775,000,000”.  In accordance with Section 7.01 of the Purchase Agreement, each of the Seller, the Administrative Agent, the Banks, and the Purchaser Agents consents to such amendment.

 

(b)                                 Pursuant to and in accordance with Section 1.13(b) of the Purchase Agreement, in connection with the increase in the Purchase Limit, the Seller desires to cause (w) Scotia Capital to increase its Bank Commitment by $45,000,000, (x) ST to increase its Bank Commitment by $15,000,000, (y) BMO to increase its Bank Commitment by $15,000,000 and (z) TD to increase its Bank Commitment by $25,000,000, and each of Scotia Capital, ST, BMO and TD agrees to such increase in its respective Bank Commitment.  Liberty, the Liberty Purchaser Agent, Fairway, the Fairway Purchaser Agent, the ST Purchaser Agent, the TD Purchaser Agent, the other Purchaser Agents and the Administrative Agent hereby consent to such increase in the respective Bank Commitment of each of Scotia Capital, ST, BMO and TD.

 

(c)                                  Upon the effectiveness of the Bank Commitment increases in Section 1(b), the Bank Commitment and Percentage of each of the Banks shall be as follows:

 

Bank

 

Bank Commitment

 

Percentage

 

ST

 

$

90,000,000

 

11.61290323

%

BTMU

 

$

100,000,000

 

12.90322581

%

BMO

 

$

90,000,000

 

11.61290323

%

PNC

 

$

100,000,000

 

12.90322581

%

TD

 

$

125,000,000

 

16.12903226

%

Scotia Capital

 

$

270,000,000

 

34.83870968

%

TOTAL

 

$

775,000,000.00

 

 

 

 

(d)                                 In connection with the foregoing adjustments of the Bank Commitments and the Percentages, the applicable Banks (or related Purchasers) whose Percentage has decreased shall transfer a Receivable Interest or Receivable Interests to each of the applicable Banks (or related Purchasers) whose Percentage has increased, as applicable, in exchange for an aggregate cash payment from each such Person in an amount equal to the aggregate Capital of such Receivable Interests so transferred to such Person, so that after giving effect to such transfers of Receivable Interests and such cash payments, each applicable Investor shall hold aggregate outstanding

 

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