Amendment No. 5 to Master Revolving Note between Manitex Liftking, ULC and Comerica Bank

Contract Categories: Business Finance › Note Agreements
Summary

This amendment, effective October 29, 2009, updates the Master Revolving Note originally dated December 29, 2006, between Manitex Liftking, ULC (the borrower) and Comerica Bank (the lender). The amendment increases the maximum principal amount of the note from CDN $3,500,000 to CDN $5,500,000. All other terms of the original note remain unchanged and in effect. Manitex, LLC, as guarantor, consents to this amendment and reaffirms its guarantee of the borrower's obligations to the bank.

Read More Arrow
EX-10.1 2 dex101.htm AMENDMENT NO. 5 TO NOTE (MASTER REVOLVING NOTE DATED DECEMBER 29, 2006) Amendment No. 5 to Note (Master Revolving Note dated December 29, 2006)

Exhibit 10.1

Amendment No. 5 to Note

 

 

This Amendment to Note (“Amendment”), made, delivered, and effective as of October 29, 2009, by and between MANITEX LIFTKING, ULC (“Borrower”) and COMERICA BANK (“Bank”).

WHEREAS, Borrower and Bank are parties to that certain Master Revolving Note in the original principal amount of CDN $3,500,000 dated December 29, 2006, as amended (“Note”); and

WHEREAS, Bank and Borrower desire to amend the Note as set forth below;

NOW, THEREFORE, in consideration of the premises and the mutual promises contained in this Amendment, Borrower and Bank agree as follows:

 

1. The face amount of the Note is now CDN $5,500,000.

 

2. The execution of this Amendment shall not be deemed to be a waiver of any Default or Event of Default.

 

3. All the terms used in this Amendment which are defined in the Note shall have the same meaning as used in the Note, unless otherwise defined in this Amendment.

 

4. This Amendment is not an agreement to any further or other amendment of the Note.

 

5. Borrower expressly acknowledges and agrees that except as expressly amended in this Amendment, the Note, as amended, remains in full force and effect and is ratified, confirmed and restated.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment on the date set forth above.

 

MANITEX LIFTKING, ULC     COMERICA BANK
By: David H. Gransee  

 

     By: James Q. Goudie  

 

Its: VP & CFO  

 

     Its: VP & AGM  

 

CONSENT OF GUARANTOR

The undersigned consents to the foregoing amendment as of the date thereof and reaffirms and ratifies all of its obligations to the Bank under its Guaranty of the Indebtedness of the Borrower to the Bank.

 

MANITEX, LLC

By: David H. Gransee

  

 

Its: VP & CFO