TO LOAN AND SECURITY AGREEMENT
THIS NINTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this Amendment) entered into as of this 22 day of December, 2020 is by and among MANITEX INTERNATIONAL, INC., a Michigan corporation (Manitex International), MANITEX, INC., a Texas corporation (Manitex), MANITEX SABRE, INC., a Michigan corporation (Sabre), BADGER EQUIPMENT COMPANY, a Minnesota corporation (Badger), CRANE AND MACHINERY, INC., an Illinois corporation (Crane and Machinery), CRANE AND MACHINERY LEASING, INC., an Illinois corporation (Crane and Machinery Leasing), and MANITEX, LLC, a Delaware limited liability company (Manitex LLC; together with Manitex International, Manitex, Sabre, Badger, Crane and Machinery, and Crane and Machinery Leasing, collectively, the Borrowers), CIBC BANK, USA, formerly known as The PrivateBank and Trust Company (in its individual capacity, CIBC Bank), as administrative agent and sole lead arranger (in such capacity, Administrative Agent), and the lenders party thereto (the Lenders).
W I T N E S S E T H:
WHEREAS, Administrative Agent, Lenders, and Borrowers are party to that certain Loan and Security Agreement dated as of July 20, 2016, as amended by that certain First Amendment to Loan and Security Agreement dated as of August 4, 2016, that certain Consent and Second Amendment to Loan and Security Agreement dated as of September 30, 2016, that certain Third Amendment to Loan and Security Agreement dated as of November 8, 2016, that certain Fourth Amendment to Loan and Security Agreement dated as of February 10, 2017, that certain Fifth Amendment to Loan and Security Agreement dated as of April 26, 2017, that certain Sixth Amendment to Loan and Security Agreement dated as of March 9, 2018, that certain Seventh Amendment to Loan and Security Agreement dated as of July 23, 2018 and that certain Eighth Amendment to Loan and Security Agreement dated as of September 30, 2019 (as amended hereby and as the same may be from time to time further amended, supplemented or otherwise modified, the Agreement); and
WHEREAS, Administrative Agent, Lenders and Borrowers desire to enter into this Amendment to, among other items, (i) add a minimum LIBOR Rate, (ii) modify certain financial covenants, and (iii) otherwise amend the Agreement in accordance with the terms herein.
NOW, THEREFORE, for and in consideration of the premises and mutual agreements herein contained and for the purposes of setting forth the terms and conditions of this Amendment, the parties, intending to be bound, hereby agree as follows:
Section 1 Incorporation of the Agreement. All capitalized terms which are not defined hereunder shall have the same meanings as set forth in the Agreement, and the Agreement, to the extent not inconsistent with this Amendment, is incorporated herein by this reference as though the same were set forth in its entirety. To the extent any terms and provisions of the Agreement are inconsistent with the amendments set forth in Section 2 below, such terms and provisions shall be deemed superseded hereby. Except as specifically set forth herein, the Agreement shall remain in full force and effect and its provisions shall be binding on the parties hereto.