Exhibit 10.12

 

AMENDMENT NO. 1 TO AMENDED AND
RESTATED RECEIVABLES PURCHASE AGREEMENT

 

This Amendment No. 1 to Amended and Restated Receivables Purchase Agreement,
dated as of August 15, 2007 (this “Amendment”), is by and among Manitowoc
Funding, LLC, as Seller, The Manitowoc Company, Inc., as Servicer, Hannover
Funding Company LLC, as Purchaser, and Norddeutsche Landesbank Girozentrale, as
Agent.

 

BACKGROUND

 

1.              The parties hereto are parties to that certain Amended and
Restated Receivables
Purchase Agreement, dated as of December 21, 2006 (the “Agreement”).

 

2.         The parties hereto desire to amend the Agreement.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereby agree as follows:

 

SECTION 1. Definitions. Capitalized terms defined in the Agreement and used but
not otherwise defined herein shall have the meanings assigned thereto in the
Agreement.

 

SECTION 2. Amendment. Clause (i) of the definition of Purchase Limit in
Exhibit I to the Agreement is hereby amended by replacing “ninety million
dollars ($90,000,000)” with “one hundred five million dollars ($105,000,000)”.

 

SECTION 3. Miscellaneous. The Agreement, as amended hereby, remains in full
force and effect. This Amendment will become effective upon the Agent’s receipt
of (a) signature pages to this Amendment, signed by the parties hereto, and
(b) legal opinions from counsel to the Seller and the Servicer, in form and
substance reasonably satisfactory to the Agent, with respect to the
authorization, execution and delivery of this Amendment and the enforceability
of the Agreement as amended by this Amendment. Any reference to the Agreement
from and after the date hereof shall be deemed to refer to the Agreement as
amended hereby, unless otherwise expressly stated. This Amendment may be
executed in any number of counterparts and by the different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which then taken together shall constitute one and the same
Amendment. This Amendment may be executed by facsimile. This Amendment shall be
governed by, and construed in accordance with, the internal laws of the State of
New York (including Sections 5-1401 and 5-1402 of the General Obligations Law of
the State of New York, but without regard to any other conflict of laws
provisions thereof) and the obligations, rights and remedies of the parties
under this Amendment shall be determined in accordance with such laws.

 

[Signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed, as of the date first above written.

 

 

MANITOWOC FUNDING, LLC,

 

as Seller

 

 

 

 

 

By:

/s/ Dean J. Nolden

 

Name:

Dean J. Nolden

 

Title:

VP

 

 

S-1

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THE MANITOWOC COMPANY, INC.,

 

as Servicer

 

 

 

 

 

By:

/s/ Dean J. Nolden

 

Name:

Dean J. Nolden

 

Title:

VP Finance

 

 

S-2

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NORDDEUTSCHE LANDESBANK

 

GIROZENTRALE, as Agent

 

 

 

 

 

By:

/s/ Edward M. Weber

 

Name:

Edward M. Weber

 

Title:

Vice President

 

 

 

 

 

 

 

By:

/s/ Heruy Dawit

 

Name:

Heruy Dawit

 

Title:

Assistant Vice President

 

 

S-3

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HANNOVER FUNDING COMPANY LLC,

 

as Purchaser

 

 

 

 

 

By:

/s/ David DeAngelis

 

Name:

David DeAngelis

 

Title:

Vice President

 

 

S-4

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