Document:

<PAGE>

                                                                             1

                                                                  Exhibit 10.1
                                  FIRST AMENDMENT

          FIRST AMENDMENT, dated as of May 1, 2000 (this "AMENDMENT"), to (i)
the Credit Agreement, dated as of June 16, 1999 (as amended, supplemented or
otherwise modified from time to time, the "CREDIT AGREEMENT"), among MCII
Holdings, Inc., formerly known as Motor Coach Industries International, Inc.,
a Delaware corporation (the "PARENT"), Motor Coach Industries International
Inc., formerly known as Transportation Manufacturing Operations, Inc. (the
"BORROWER"), the several banks and other financial institutions or entities
from time to time parties thereto (the "LENDERS"), The Bank of Nova Scotia,
as Syndication Agent (in such capacity, the "SYNDICATION AGENT"), General
Electric Capital Corporation, as Documentation Agent (in such capacity, the
"DOCUMENTATION AGENT"), and Canadian Imperial Bank of Commerce ("CIBC"), as
administrative agent and (ii) the Guarantee and Collateral Agreement, dated
as of June 16, 1999 executed pursuant to the Credit Agreement (as amended,
supplemented or otherwise modified from time to time, the "GUARANTEE AND
COLLATERAL AGREEMENT").

                                W I T N E S S E T H:

          WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to
make, and have made, certain loans and other extensions of credit to the
Borrower; and

          WHEREAS, the Borrower has requested, and, upon this Amendment becoming
effective, the Lenders shall have agreed, that certain provisions of the Credit
Agreement be amended in the manner provided for in this Amendment.

          NOW, THEREFORE, for valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and in consideration of the
premises and mutual agreements contained herein, the parties hereto hereby agree
as follows:

          I.   DEFINITIONS.  Unless otherwise defined herein, terms defined in
the Credit Agreement shall be used as so defined.

               1.   AMENDMENTS TO SECTION 1 OF THE CREDIT AGREEMENT: Subsection
1.1 of the Credit Agreement is hereby amended:

               (a) by deleting therefrom the existing definition of "Issuing
Lender" in its entirety and by substituting, in lieu thereof, the following:

          "ISSUING LENDER":  as the case may be, either (a) the Bank of Nova
     Scotia, in its capacity as the issuer of the Securitization L/C or (b)
     CIBC, in its capacity as issuer of any other Letter of Credit.

<PAGE>

                                                                             2

               (b) by deleting therefrom the existing definition of "L/C
Commitment" in its entirety and by substituting, in lieu thereof, the following:

          "L/C COMMITMENT" $85,000,000.

               (c) by adding thereto the following definition:

          "SECURITIZATION L/C":  a Letter of Credit issued by The Bank of Nova
     Scotia on or about April 18, 2000 in connection with a Qualified
     Securitization Transaction, and any renewals or extensions thereof.

          II.  ADDITIONAL AMENDMENTS TO THE CREDIT AGREEMENT.

               1.   AMENDMENT TO SUBSECTION 3.1: Subsection 3.1 of the Credit
Agreement is hereby amended by adding thereto the following subsection:

               (c) The Bank of Nova Scotia shall be the Issuing Lender with
     respect to the Securitization L/C and no other Letter of Credit, and CIBC
     shall be the Issuing Lender with respect to all other Letters of Credit.

               2.  AMENDMENT TO SUBSECTION 6.2(c): Subsection 6.2(c) of the
Credit Agreement is hereby amended by deleting said subsection 6.2(c) in its
entirety and substituting, in lieu thereof, the following:

               (c) as soon as available, and in any event no later than 45 days
     after the end of each fiscal year of the Borrower (or May 15, 2000, in the
     case of the budget for fiscal year 2000), a detailed consolidated budget
     for the following fiscal year (including a projected consolidated balance
     sheet of the Borrower and its Subsidiaries as of the end of the following
     fiscal year, and the related consolidated statements of projected cash
     flow, projected changes in financial position and projected income)
     (collectively, the "PROJECTIONS"), which Projections shall in each case be
     accompanied by a certificate of a Responsible Officer stating that such
     Projections are based on reasonable estimates, information and assumptions;

               3.  AMENDMENT TO SUBSECTION 6.2(d): Subsection 6.2(d) of the
Credit Agreement is hereby amended by deleting said subsection 6.2(d) in its
entirety and substituting in lieu thereof, the following:

               (d) within 45 days after the end of each of the first three
     fiscal quarters of each fiscal year of the Borrower and within 90 days
     after the end of the fourth fiscal quarter of each fiscal year of the
     Borrower, a narrative discussion and analysis of the financial condition
     and results of operations of the Borrower and its Subsidiaries for such
     fiscal quarter and for the period from the beginning of the then current
     fiscal year to the end of such fiscal quarter, as compared to the portion
     of the Projections covering such periods and to the comparable periods of
     the previous year;

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                                                                             3

               4.  AMENDMENT TO SUBSECTION 6.9(a): Subsection 6.9(a) of the
Credit Agreement is hereby amended by deleting said subsection 6.9(a) in its
entirety and substituting in lieu thereof, the following:

               6.9 ADDITIONAL COLLATERAL, ETC.  (a)  With respect to any
     property acquired after the Closing Date by Parent, the Borrower or any of
     its Subsidiaries (other than (w)  interests owned by a Securitization
     Entity in accounts receivable and related assets conveyed to it by the
     Borrower or any of its Subsidiaries, directly or indirectly, in connection
     with any Qualified Securitization Transaction, (x) any property described
     in paragraph (b), (c) or (d) below, (y) any property subject to a Lien
     expressly permitted by Section 7.3(g) and (z) property acquired by any
     Excluded Foreign Subsidiary) as to which the Administrative Agent, for the
     benefit of the Lenders, does not have a perfected Lien, promptly (i)
     execute and deliver to the Administrative Agent such amendments to the
     Guarantee and Collateral Agreement or such other documents as the
     Administrative Agent deems necessary or advisable to grant to the
     Administrative Agent, for the benefit of the Lenders, a security interest
     in such property and (ii) take all actions reasonably necessary or
     advisable to grant to the Administrative Agent, for the benefit of the
     Lenders, a perfected first priority security interest in such property,
     including without limitation, the filing of Uniform Commercial Code
     financing statements in such jurisdictions as may be reasonably required by
     the Guarantee and Collateral Agreement or by law or as may be requested by
     the Administrative Agent.

               5.  AMENDMENT TO SUBSECTION 7.5(f): Subsection 7.5(f) of the
Credit Agreement is hereby amended by deleting said subsection 7.5(f) in its
entirety and substituting, in lieu thereof, the following:

               (f) sales of accounts receivable and related assets (including
     contract rights) of the type specified in the definition of "Qualified
     Securitization Transaction" to a Securitization Entity for the fair market
     value thereof in connection with a Qualified Securitization Transaction,
     and sales of such assets by such Securitization Entity for the fair market
     value thereof in connection with such Qualified Securitization Transaction;

          III. AMENDMENTS TO THE GUARANTEE AND COLLATERAL AGREEMENT.

               1.  AMENDMENT TO SUBSECTION 1.1: Subsection 1.1 of the
Guarantee and Collateral Agreement is hereby amended: by adding thereto the
following definitions in the appropriate alphabetical order:

          "RECEIVABLES DOCUMENTS":  shall mean all documentation relating to any
     Qualified Securitization Transaction.

          "RECEIVABLES FACILITY ASSETS":  shall mean all Receivables (whether
     now existing or arising in the future) of Borrower or any of its
     Subsidiaries which are transferred pursuant to a Qualified Securitization
     Transaction, and any assets related thereto, including without limitation
     (i) all collateral given by the respective account debtor or on

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                                                                             4

     its behalf (but not by Borrower or any of its Subsidiaries) securing
     such Receivables, (ii) all contracts and all guarantees (but not by
     Borrower or any of its Subsidiaries) or other obligations directly
     related to such Receivables, (iii) other related assets, including those
     set forth in the Receivables Documents, and (iv) proceeds of all of the
     foregoing.

               2.  AMENDMENT TO SECTION 3: Section 3 of the Guarantee and
Collateral Agreement is hereby amended by deleting the last paragraph of said
Section 3 in its entirety and substituting, in lieu thereof, the following:

     Notwithstanding the foregoing, no security interest is or will be granted
     in (a) any Equipment that would otherwise be included in the Collateral
     during such time as such Equipment is subject to a Lien permitted by
     Section 7.3(g) of the Credit Agreement or (b) any Receivables or other
     assets of a type described in the definition of "Receivables Facility
     Assets" during such time as such Receivables and other assets constitute
     Receivables Facility Assets.

          IV.  EFFECTIVE DATE.  This First Amendment will become effective as of
the date hereof upon its execution by the Borrower, each Guarantor, and the
Lenders in accordance with the terms of the Credit Agreement.

          V.   GENERAL

          1.   REPRESENTATIONS AND WARRANTIES.  The Borrower represents and
warrants to each Lender that as of the effective date of this First Amendment
(a) this First Amendment constitutes the legal, valid and binding obligation of
the Borrower, enforceable against it in accordance with its terms, except as
such enforcement may be limited by bankruptcy, insolvency, fraudulent
conveyances, reorganization, moratorium or similar laws affecting creditors'
rights generally, by general equitable principles (whether enforcement is sought
by proceedings in equity or at law) and by an implied covenant of good faith and
fair dealing, (b) the representations and warranties made by the Loan Parties in
the Loan Documents are true and correct in all material respects on and as of
the date hereof (except to the extent that such representations and warranties
are expressly stated to relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material
respects on and as of such earlier date) and (c) no Default or Event of Default
shall have occurred and be continuing.

          2.   CONTINUING EFFECT.  Except as expressly waived or amended hereby,
the Credit Agreement shall continue to be and shall remain in full force and
effect in accordance with its terms.

          3.   GOVERNING LAW.  THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

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                                                                             5

          4.   COUNTERPARTS.  This First Amendment may be executed by the
parties hereto in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

          5.   PAYMENT OF EXPENSES.  The Borrower agrees to pay and reimburse
the Agent for all of its out-of-pocket costs and reasonable expenses incurred in
connection with this First Amendment, including, without limitation, the
reasonable fees and disbursements of counsel to the Agent.

          IN WITNESS WHEREOF, the parties hereto have caused this First
Amendment to be duly executed and delivered by their properly and duly
authorized officers as of the day and year first above written.

                                        MCII HOLDINGS, INC.

                                        By: /s/ Horst 0. Sieben
                                            ---------------------------------
                                        Title:  Chief Financial Officer

                                        MOTOR COACH INDUSTRIES
                                        INTERNATIONAL, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Title:  Chief Financial Officer

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                                                                             6

                                        BUS LEASE, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Name:   Horst O. Sieben
                                        Title:  Chief Financial Officer

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                                                                             7

                                        HAUSMAN BUS SALES, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Name:   Horst O. Sieben
                                        Title:  Chief Financial Officer

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                                                                             8

                                        MOTOR COACH INDUSTRIES, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Name:   Horst O. Sieben
                                        Title:  Chief Financial Officer

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                                                                             9

                                        UNIVERSAL COACH PARTS, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Name:   Horst O. Sieben
                                        Title:  Chief Financial Officer

<PAGE>

                                                                            10

                                        TRANSIT BUS INTERNATIONAL, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Name:   Horst O. Sieben
                                        Title:  Chief Financial Officer

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                                                                            11

                                        MCII FINANCIAL SERVICES II, INC.

                                        By: /s/ Horst O. Sieben
                                           ----------------------------------
                                        Name:   Horst O. Sieben
                                        Title:  Chief Financial Officer
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                                                                            12

                                        CANADIAN IMPERIAL BANK OF COMMERCE, as
                                        Administrative Agent and as a Lender

                                        By: /s/ Lindsay Gordon
                                           ----------------------------------
                                        Title:  Excecutive Director

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                                                                            13

                                        THE BANK OF NOVA SCOTIA, as
                                        Syndication Agent and as a Lender

                                        By: /s/ F.C.H. Ashby
                                           -----------------------------------
                                        Title:  Senior Manager Loan Operations

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                                                                            14

                                        VAN KAMPEN CLO I, LIMITED

                                        By: /s/ Howard Tiffen
                                           -----------------------------------
                                        Name:   Howard Tiffen
                                        Title:  Senior Vice President

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                                                                            15

                                        VAN KAMPEN PRIME RATE INCOME TRUST

                                        By: /s/ Howard Tiffen
                                           -----------------------------------
                                        Name:   Howard Tiffen
                                        Title:  Senior Vice President

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                                                                            16

                                        VAN KAMPEN SENIOR FLOATING RATE FUND

                                        By: /s/ Howard Tiffen
                                           -----------------------------------
                                        Name:   Howard Tiffen
                                        Title:  Senior Vice President

<PAGE>

                                                                            17

                                        OPPENHEIMER SENIOR FLOATING RATE FUND

                                        By: /s/ Scott Farrar
                                           -----------------------------------
                                        Name:   Scott Farrar
                                        Title:  Vice President

<PAGE>

                                                                            18

                                        SAWGRASS TRADING LLC

                                        By: /s/ Kelly C. Walker
                                           -----------------------------------
                                        Name:   Kelly C. Walker
                                        Title:  Vice President

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                                                                            19

                                        THE TORONTO-DOMINION BANK

                                        By: /s/ Jorge A. Garcia
                                           -----------------------------------
                                        Name:   Jorge A. Garcia
                                        Title:  Mgr. Cr. Admin

<PAGE>

                                                                            20

                                        ROYAL BANK OF CANADA (NEW YORK)

                                        By: /s/ N.G. Millar
                                           -----------------------------------
                                        Name:   N.G. Millar
                                        Title:  Senior Manager

<PAGE>

                                                                            21

                                        SUMMIT BANK

                                        By: /s/ James E. Cheatham
                                           -----------------------------------
                                        Name:   James E. Cheatham
                                        Title:  VP - Director

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                                                                            22

                                        MERRILL LYNCH PRIME RATE PORTFOLIO
                                        By: Merrill Lynch Asset Management,
                                        L.P., as Investment Advisor

                                        By: /s/ Paul Travers
                                           -----------------------------------
                                        Name:   Paul Travers
                                        Title:  Authorized Signatory

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                                                                            23

                                        MERRILL LYNCH SENIOR FLOATING RATE
                                        FUND II INC.

                                        By: /s/ Paul Travers
                                           -----------------------------------
                                        Name:   Paul Travers
                                        Title:  Authorized Signatory

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                                                                            24

                                        IKB DEUTSCHE INDUSTIEBANK AG
                                        LUXEMBOURG BRANCH

                                        By: /s/ Edwin Brecht
                                           -----------------------------------
                                        Name:   Edwin Brecht
                                        Title:  Executive Director

                                        By: /s/ Manfred Ziwey
                                           -----------------------------------
                                        Name:   Manfred Ziwey
                                        Title:  Director

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                                                                            25

                                        KZH SHOSHONE LLC

                                        By: /s/ Susan Lee
                                           -----------------------------------
                                        Name:   Susan Lee
                                        Title:  Authorized Agent<PAGE>

                                                                             1

                                                                  Exhibit 10.2
                                  SECOND AMENDMENT

          SECOND AMENDMENT, dated as of May 15, 2000 (this "AMENDMENT"), to
the Credit Agreement, dated as of June 16, 1999 (as amended, supplemented or
otherwise modified from time to time, the "CREDIT AGREEMENT"), among MCII
Holdings, Inc., formerly known as Motor Coach Industries International, Inc.,
a Delaware corporation (the "PARENT"), Motor Coach Industries International
Inc., formerly known as Transportation Manufacturing Operations, Inc. (the
"BORROWER"), the several banks and other financial institutions or entities
from time to time parties thereto (the "LENDERS"), The Bank of Nova Scotia,
as Syndication Agent (in such capacity, the "SYNDICATION AGENT"), General
Electric Capital Corporation, as Documentation Agent (in such capacity, the
"DOCUMENTATION AGENT"), and Canadian Imperial Bank of Commerce ("CIBC"), as
administrative agent.

                                W I T N E S S E T H:

          WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed
to make, and have made, certain loans and other extensions of credit to the
Borrower; and

          WHEREAS, the Borrower has requested, and, upon this Amendment
becoming effective, the Lenders shall have agreed, that certain provisions of
the Credit Agreement be amended in the manner provided for in this Amendment.

          NOW, THEREFORE, for valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and in consideration of the
premises and mutual agreements contained herein, the parties hereto hereby
agree as follows:

          I.   DEFINITIONS.  Unless otherwise defined herein, terms defined in
the Credit Agreement shall be used as so defined.

          II.  AMENDMENTS TO THE CREDIT AGREEMENT.

               1.   AMENDMENTS TO SECTION 1.1 OF THE CREDIT AGREEMENT: Section
1.1 of the Credit Agreement is hereby amended by deleting therefrom the existing
definitions of  "Consolidated Interest Expense," and "L/C Commitment" in their
entireties and by substituting, in lieu thereof, the following:

          "CONSOLIDATED INTEREST EXPENSE": for any period, total cash interest
     expense (including that attributable to Capital Lease Obligations) of the
     Borrower and its Subsidiaries for such period with respect to all
     outstanding Indebtedness of the Borrower and its Subsidiaries (including,
     without limitation, all commissions, discounts and other fees and charges
     owed with respect to letters of credit and bankers' acceptance financing
     and net costs under Interest Rate Protection Agreements to the extent such
     net costs are

<PAGE>

                                                                             2

     allocable to such period in accordance with GAAP), minus net payments
     received during such period under Interest Rate Protection Agreements
     and minus interest income, PROVIDED, that, in computing Consolidated
     Interest Expense, the aggregate outstanding principal amount of (a)
     Loans on each day during the period from June 16, 1999 through the date
     upon which the Second Amendment to this Agreement shall become effective
     shall be deemed to have been reduced by $50,000,000 (but in no event to
     an amount less than zero) and (b) Loans on each day during the period
     from June 16, 1999 through the closing date of the transaction pursuant
     to which the Securitization L/C shall be issued shall be deemed to have
     been reduced by an amount equal to the aggregate amount of the Loans
     repaid on such closing date (but in no event to an amount less than
     zero).

          "L/C COMMITMENT": at any time, an amount equal to the lesser of (a)
     $120,000,000 or (b) the aggregate amount of the Revolving Commitments then
     in effect.

               2.   AMENDMENTS TO DEFINITIONS OF CERTAIN RATIOS.  Clause
(a)(i)(y) of the definition of "Consolidated Senior Leverage Ratio" and clause
(a)(ii) of the definition of "Consolidated Total Leverage Ratio" are each
hereby amended by deleting such clauses in their entireties and by substituting,
in lieu thereof, the following:

     The average daily principal amount of the Revolving Extensions of Credit
(other than Letters of Credit backing obligations which do not constitute
Indebtedness) outstanding during the period of four fiscal quarters ending on
such day (or, if shorter, the period ending on such day and beginning on the
date upon which the Second Amendment to this Agreement shall become effective).

               3.   AMENDMENT TO SECTION 6.1: Section 6.1 of the Credit
Agreement is hereby amended adding thereto the following subsection (c):

          "(c)  as soon as available, but in any event not later than 30 days
     after the end of each month of each fiscal year of the Borrower (other than
     the third, sixth, ninth and twelfth such months), the unaudited
     consolidated balance sheet of the Borrower and its consolidated
     Subsidiaries as at the end of month and the related unaudited consolidated
     statements of income and of cash flows for such month and the portion of
     the fiscal year through the end of such month, setting forth in each case
     in comparative form the figures for the previous year, certified by a
     Responsible Officer as being fairly stated in all material respects
     (subject to normal year-end audit adjustments)."

               4.   AMENDMENT TO SECTION 7.1: Section 7.1 of the Credit
Agreement is hereby amended by deleting said Section in its entirety and
substituting, in lieu thereof, the following:

          "7.1  FINANCIAL CONDITION COVENANTS.

               (a)  CONSOLIDATED TOTAL LEVERAGE RATIO.  Permit the Consolidated
     Total Leverage Ratio as at the last day of any period of four consecutive
     fiscal quarters of the

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                                                                             3

     Borrower (or, if less, the number of full fiscal quarters subsequent to
     the Closing Date) ending during any period set forth below to exceed the
     ratio set forth below opposite such period:

<TABLE>
<CAPTION>

                                                    Consolidated Total
                   Period                             Leverage Ratio
                   ------                             --------------
     <S>                                              <C>
     September 30, 1999 through December 31, 1999      5.25 to 1.0
     January 1, 2000 through March 31, 2000            5.60 to 1.0
     April 1, 2000 through June 30, 2000               6.25 to 1.0
     July 1, 2000 through September 30, 2000           5.85 to 1.0
     October 1, 2000 through December 31, 2000         5.25 to 1.0
     March 31, 2001 through September 30, 2001         5.00 to 1.0
     December 31, 2001 through September 30, 2002      4.75 to 1.0
     December 31, 2002 through September 30, 2003      4.50 to 1.0
     December 31, 2003 through June 30, 2004           4.25 to 1.0
     September 30, 2004 and thereafter                 4.00 to 1.0;
</TABLE>

     PROVIDED, that for the purposes of determining the ratio described above,
     for the fiscal quarters of the Borrower ending prior to the Closing Date
     Consolidated EBITDA shall be as set forth on Schedule 1.1C.

               (b)  CONSOLIDATED SENIOR LEVERAGE RATIO.  Permit the Consolidated
     Senior Leverage Ratio as at the last day of any period of four consecutive
     fiscal quarters of the Borrower (or, if less, the number of full fiscal
     quarters subsequent to the Closing Date) ending during any period set forth
     below to exceed the ratio set forth below opposite such period:

<TABLE>
<CAPTION>

                                                   Consolidated Senior
                   Period                             Leverage Ratio
                   ------                             --------------
     <S>                                            <C>
     September 30, 1999 through December 31, 1999      3.50 to 1.0
     January 1, 2000 through March 31, 2000            4.00 to 1.0
     April 1, 2000 through June 30, 2000               4.50 to 1.0
     July 1, 2000 through September 30, 2000           4.00 to 1.0
     October 1, 2000 through December 31, 2000         3.50 to 1.0
     March 31, 2001 through September 30, 2002         3.25 to 1.0
     December 31, 2002 through September 30, 2003      3.00 to 1.0
     December 31, 2003 through September 30, 2004      2.75 to 1.0
     December 31, 2004 and thereafter                  2.50 to 1.0;
</TABLE>

     PROVIDED, that for the purposes of determining the ratio described above,
     for the fiscal quarters of the Borrower ending prior to the Closing Date
     Consolidated EBITDA shall be as set forth on Schedule 1.1C.

<PAGE>

                                                                             4

               (c)  CONSOLIDATED INTEREST COVERAGE RATIO.  Permit the
     Consolidated Interest Coverage Ratio for any period of four consecutive
     fiscal quarters of the Borrower (or, if less, the number of full fiscal
     quarters subsequent to the Closing Date) ending during any period set forth
     below to be less than the ratio set forth below opposite such period:

<TABLE>
<CAPTION>

                                                  Consolidated Interest
                  Period                              Coverage Ratio
                  ------                              --------------
     <S>                                          <C>
     September 30, 1999 through March 31, 2000         1.90 to 1.0
     April 1, 2000 through June 30, 2000               1.50 to 1.0
     July 1, 2000 through September 30, 2000           1.65 to 1.0
     October 1, 2000 through December 31, 2000         1.80 to 1.0
     January 1, 2001 through September 30, 2001        2.15 to 1.0
     December 31, 2001 through September 30, 2002      2.25 to 1.0
     December 31, 2002 through September 30, 2003      2.35 to 1.0
     December 31, 2003 and thereafter                  2.50 to 1.0;
</TABLE>

     PROVIDED, that for the purposes of determining the ratio described above,
     for the fiscal quarters of the Borrower ending prior to the Closing Date
     Consolidated EBITDA and Consolidated Interest Expense shall be as set forth
     on Schedule 1.1C.

               (d)  CONSOLIDATED FIXED CHARGE COVERAGE RATIO.  Permit the
     Consolidated Fixed Charge Coverage Ratio for any period of four consecutive
     fiscal quarters of the Borrower (or, if less, the number of full fiscal
     quarters subsequent to the Closing Date) ending during any period  set
     forth below to be less than the ratio set forth below opposite such period:

<TABLE>
<CAPTION>

                                                    Consolidated Fixed
                    Period                        Charge Coverage Ratio
                    ------                        ---------------------
     <S>                                          <C>
     September 30, 1999 through March 31, 2000         1.10 to 1.0
     April 1, 2000 through December 31, 2000           1.00 to 1.0
     March 31, 2001 through September 30, 2002         1.15 to 1.0
     December 31, 2002 through June 30, 2003           1.30 to 1.0
     September 30, 2003 and thereafter                 1.50 to 1.0;
</TABLE>

     PROVIDED, that for the purposes of determining the ratio described above,
     for the fiscal quarters of the Borrower ending prior to the Closing Date
     Consolidated EBITDA, Consolidated Fixed Charges and Capital Expenditures
     shall be as set forth on Schedule 1.1C."

               5.   AMENDMENT TO SECTION 11.6(c): Section 11.6(c) of the Credit
Agreement is hereby amended by inserting at the end of the fourth line thereof
after the first appearance of the term "Administrative Agent" the following:

<PAGE>

                                                                             5

     "and, in the case of a transfer by any Revolving Lender of all or any part
     of its Revolving Commitment to a Person other than another Lender, an
     affiliate thereof or any Related Fund thereof, CIBC and, so long as the
     Securitization L/C shall be outstanding, The Bank of Nova Scotia"

               6.   AMENDMENT TO SCHEDULE 1.1A.  Schedule 1.1A to the Credit
Agreement is hereby amended to read as set forth on Schedule 1.1A hereto.

               7.   FURTHER INCREASES IN REVOLVING COMMITMENTS.  The Lenders
agree that, to the extent that the aggregate amount by which the Revolving
Commitments are increased pursuant to Section II.6 of this Amendment is less
than $60,000,000, the Revolving Commitments may be increased by one or more of
the Lenders or, with the consent of the Borrower and the Administrative Agent
and, in the case of a new Revolving Commitment, CIBC and, so long as the
Securitization L/C shall be outstanding, The Bank of Nova Scotia (which, in each
case, will not be unreasonably withheld or delayed), by any other Person, on one
or more dates subsequent to the date upon which this Amendment shall become
effective by an aggregate amount not in excess of such difference.  Each such
increase shall be effected pursuant to a supplement to the Credit Agreement
setting forth the amount of such increase that shall be executed and delivered
by the Borrower, the Administrative Agent and the Person and the Commitment of
which shall be so increased.  On the date upon which any such increase in the
Revolving Commitments shall become effective, the Borrower shall prepay all then
outstanding Revolving Loans and reborrow such amount of Revolving Loans as it
shall then require on a PRO RATA basis among the Revolving Lenders based upon
the respective amounts of their Revolving Commitments after giving effect to
this Amendment and all such supplements.

          III. CONDITIONS TO EFFECTIVENESS; REBORROWING OF REVOLVING LOANS.  (a)
This Second Amendment will become effective upon satisfaction of the following
conditions precedent (but in no event later than May 16, 2000):

          (i)  the Administrative Agent shall have received copies of this
     Amendment executed and delivered by the Borrower, each Guarantor, and the
     Required Lenders (including each Lender whose Commitment is increased
     pursuant to Section II.5 of this Amendment);

          (ii)  the Administrative Agent shall have received evidence, in form
     and substance satisfactory to it, that the Borrower shall have received
     subsequent to May 5, 2000 Net Cash Proceeds from the issuance of shares of
     its common stock and/or from the receipt of capital contributions made to
     it in an aggregate amount equal to at least $50,000,000;

          (iii)  the Administrative Agent shall have received, with a copy for
     each Lender, a certificate executed by a duly authorized officer of the
     Borrower attaching thereto a copy of the resolutions of the Board of
     Directors of the Borrower authorizing the execution and delivery of this
     Amendment and the performance of the Credit Agreement as amended hereby;
     and

<PAGE>

                                                                             6

          (iv)  the Administrative Agent shall have received, with a copy for
     each Lender, a legal opinion of Skadden, Arps, Meagher & Flom LLP in form
     and substance satisfactory to the Administrative Agent.

               (b)  On the effective date of this Amendment, the Borrower shall
     prepay all then outstanding Revolving Loans and reborrow such amount of
     Revolving Loans as it shall then require on a PRO RATA basis among the
     Lenders based upon the respective amounts of their Revolving Commitments in
     effect after giving effect to the effectiveness of this Amendment.

          IV.  GENERAL

               1.   REPRESENTATIONS AND WARRANTIES.  The Borrower represents and
warrants to each Lender that as of the effective date of this Second Amendment
(a) this Second Amendment constitutes the legal, valid and binding obligation of
the Borrower, enforceable against it in accordance with its terms, except as
such enforcement may be limited by bankruptcy, insolvency, fraudulent
conveyances, reorganization, moratorium or similar laws affecting creditors'
rights generally, by general equitable principles (whether enforcement is sought
by proceedings in equity or at law) and by an implied covenant of good faith and
fair dealing, (b) the representations and warranties made by the Loan Parties in
the Loan Documents are true and correct in all material respects on and as of
the date hereof (except to the extent that such representations and warranties
are expressly stated to relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material
respects on and as of such earlier date) and (c) no Default or Event of Default
shall have occurred and be continuing.

               2.   CONTINUING EFFECT.  Except as expressly waived or amended
hereby, the Credit Agreement shall continue to be and shall remain in full force
and effect in accordance with its terms.

               3.   GOVERNING LAW.  THIS SECOND AMENDMENT SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK.

               4.   COUNTERPARTS.  This Second Amendment may be executed by the
parties hereto in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

               5.   PAYMENT OF EXPENSES.  The Borrower agrees to pay and
reimburse the Agent for all of its out-of-pocket costs and reasonable expenses
incurred in connection with this Second Amendment, including, without
limitation, the reasonable fees and disbursements of counsel to the Agent.

<PAGE>

                                                                             7

          IN WITNESS WHEREOF, the parties hereto have caused this Second
Amendment to be duly executed and delivered by their properly and duly
authorized officers as of the day and year first above written.

                                        MCII HOLDINGS, INC.

                                        By: /s/ Horst O. Sieben
                                           -------------------------
                                        Title: Chief Financial Officer

                                        MOTOR COACH INDUSTRIES
                                        INTERNATIONAL, INC.

                                        By: /s/ Horst O. Sieben
                                           -------------------------
                                        Title: Chief Financial Officer

<PAGE>

                                                                              8

                                        BUS LEASE, INC.

                                        By:  /s/ Horst O. Sieben
                                            --------------------------
                                            Name:   Horst O. Sieben
                                            Title:  Chief Financial Officer

<PAGE>

                                                                              9

                                        HAUSMAN BUS SALES, INC.

                                        By:  /s/ Horst O. Sieben
                                            --------------------------
                                            Name:   Horst O. Sieben
                                            Title:  Chief Financial Officer

<PAGE>

                                                                             10

                                        MOTOR COACH INDUSTRIES, INC.

                                        By:  /s/ Horst O. Sieben
                                            --------------------------
                                            Name:   Horst O. Sieben
                                            Title:  Chief Financial Officer

<PAGE>

                                                                             11

                                        UNIVERSAL COACH PARTS, INC.

                                        By:  /s/ Horst O. Sieben
                                            --------------------------
                                            Name:   Horst O. Sieben
                                            Title:  Chief Financial Officer

<PAGE>

                                                                             12

                                        TRANSIT BUS INTERNATIONAL, INC.

                                        By:  /s/ Horst O. Sieben
                                            --------------------------
                                            Name:   Horst O. Sieben
                                            Title:  Chief Financial Officer

<PAGE>

                                                                             13

                                        MCII FINANCIAL SERVICES II, INC.

                                        By:  /s/ Horst O. Sieben
                                            --------------------------
                                            Name:   Horst O. Sieben
                                            Title:  Chief Financial Officer

<PAGE>

                                                                            14

                                        CANADIAN IMPERIAL BANK OF COMMERCE,
                                        as Administrative Agent and
                                        as a Lender

                                        By:  /s/ Lindsay Gordon
                                             --------------------------
                                             Name:   Lindsay Gordon
                                             Title:  Executive Director

<PAGE>

                                                                             15

                                        BANK OF NOVA SCOTIA

                                        By:  /s/ F.C.H. Ashby
                                             ----------------------------
                                             Name:   F.C.H. Ashby
                                             Title:  Senior Manager Loan
                                                     Operations

<PAGE>

                                                                             16

                                        GENERAL ELECTRIC CAPITAL CORPORATION

                                        By:  /s/ Woodrow Broadus
                                             ---------------------------------
                                             Name:   Woodrow Broadus
                                             Title:  Duly Authorized Signatory

<PAGE>

                                                                             17

                                        VAN KAMPEN CLO I, LIMITED

                                        By:  /s/ Darvin D. Pierce
                                             ------------------------------
                                             Name:   Darvin D. Pierce
                                             Title:  Vice President

<PAGE>

                                                                             18

                                        VAN KAMPEN PRIME RATE INCOME TRUST

                                        By:  /s/ Darvin D. Pierce
                                             ---------------------------
                                             Name:   Darvin D. Pierce
                                             Title:  Vice President

<PAGE>

                                                                             19

                                        VAN KAMPEN SENIOR FLOATING RATE FUND

                                        By:  /s/ Darvin D. Pierce
                                             ---------------------------
                                             Name:   Darvin D. Pierce
                                             Title:  Vice President

<PAGE>

                                                                             20

                                        VAN KAMPEN CLO II, LIMITED

                                        By:  /s/ Darvin D. Pierce
                                             ----------------------------
                                             Name:   Darvin D. Pierce
                                             Title:  Vice President

<PAGE>

                                                                             21

                                        BANK AUSTRIA CREDITANSTALT CORPORATE
                                        FINANCE

                                        By:  /s/ David M. Harnisch
                                             ------------------------------
                                             Name:   David M. Harnisch
                                             Title:  VP & Team Leader,
                                                     Corporate Finance

<PAGE>

                                                                             22

                                        FIRST UNION NATIONAL BANK

                                        By:  /s/ Gerald P. Hullinger
                                             -----------------------------
                                             Name:   Gerald P. Hullinger
                                             Title:  Vice President

<PAGE>

                                                                             23

                                        KEMPER FLOATING RATE FUND

                                        By:  /s/ Kelly D. Babson
                                             -------------------------
                                             Name:   Kelly D. Babson
                                             Title:  Vice President

<PAGE>

                                                                             24

                                        MASSMUTUAL HIGH YIELD PARTNERS II LLC

                                        By:  /s/ Wallace G. Rodger
                                             --------------------------------
                                             Name:   Wallace G. Rodger
                                             Title:  Assistant Secretary &
                                                     Vice President

<PAGE>

                                                                             25

                                        SAAR HOLDINGS CDO, LIMITED
                                        By:  Massachusetts Mutual Life
                                             Insurance Company

                                        By:  /s/ Steven J. Katz
                                             ----------------------------------
                                             Name:   Steven J. Katz
                                             Title:  Second Vice President &
                                                     Associate General Counsel

<PAGE>

                                                                             26

                                        PERSEUS CDO I, LIMITED
                                        By:  Massachusetts Mutual Life Insurance
                                             Company, as Collateral Manager

                                        By:  /s/ Steven J. Katz
                                             ------------------------------
                                             Name:   Steven J. Katz
                                             Title:  Second Vice President &
                                                     Associate General Counsel

<PAGE>

                                                                             27

                                        SIMSBURY CLO, LIMITED
                                        By:  Massachusetts Mutual Life Insurance
                                             Company, as Collateral Manager

                                        By:  /s/ Steven J. Katz
                                             ------------------------------
                                             Name:   Steven J. Katz
                                             Title:  Second Vice President &
                                                     Associate General Counsel

<PAGE>

                                                                             28

                                        OPPENHEIMER SENIOR FLOATING RATE FUND

                                        By:  /s/ Scott Farrar
                                             ---------------------------
                                             Name:   Scott Farrar
                                             Title:  Vice President

<PAGE>

                                                                             29

                                        SAWGRASS TRADING LLC

                                        By:  /s/ Ashley R. Hamilton
                                             ---------------------------------
                                             Name:   Ashley R. Hamilton
                                             Title:  Assistant Vice President

<PAGE>

                                                                             30

                                        SRF TRADING, INC.

                                        By:  /s/ Ashley R. Hamilton
                                             ---------------------------------
                                             Name:   Ashley R. Hamilton
                                             Title:  Assistant Vice President

<PAGE>

                                                                             31

                                        PPM SPYGLASS FUNDING TRUST

                                        By:  /s/ Ashley R. Hamilton
                                             --------------------------------
                                             Name:   Ashley R. Hamilton
                                             Title:  Assistant Vice President

<PAGE>

                                                                             32

                                        OLYMPIC FUNDING TRUST SERIES 1999-1

                                        By:  /s/ Ashley R. Hamilton
                                             --------------------------------
                                             Name:   Ashley R. Hamilton
                                             Title:  Assistant Vice President

<PAGE>

                                                                             33

                                        THE TORONTO-DOMINION (NEW YORK), INC.

                                        By:  /s/ Jorge A. Garcia
                                             ----------------------------
                                             Name:   Jorge A. Garcia
                                             Title:  Vice President

<PAGE>

                                                                            34

                                        PILGRIM AMERICA HIGH INCOME
                                        INVESTMENTS, LTD.
                                        By: Pilgrim Investments, Inc.,
                                            as its investment manager

                                        By:  /s/ Michel Prince
                                             ----------------------------------
                                             Name:   Michel Prince
                                             Title:  Vice President

<PAGE>

                                                                            35

                                      EATON VANCE INSTITUTIONAL SENIOR LOAN FUND
                                      By:  Eaton Vance Management,
                                           as Investment Advisor

                                      By:  /s/ Payson F. Swaffield
                                           -------------------------------------
                                           Name:   Payson F. Swaffield
                                           Title:  Vice President

<PAGE>

                                                                             36

                                        EATON VANCE SENIOR INCOME TRUST
                                        By:  Eaton Vance Management,
                                             as Investment Advisor

                                        By:  /s/ Payson F. Swaffield
                                             ----------------------------------
                                             Name:   Payson F. Swaffield
                                             Title:  Vice President

<PAGE>

                                                                            37

                                        SENIOR DEBT PORTFOLIO
                                        By:  Boston Management and Research,
                                             as Investment Advisor

                                        By:  /s/ Payson F. Swaffield
                                             ----------------------------------
                                             Name:   Payson F. Swaffield
                                             Title:  Vice President

<PAGE>

                                                                            38

                                        CARAVELLE INVESTMENT FUND LLC

                                        By:  /s/ Dean Criares
                                             ----------------------------------
                                             Name:   Dean Criares
                                             Title:  Managing Director

<PAGE>

                                                                            39

                                        ROYAL BANK OF CANADA

                                        By:  /s/ Sheryl L. Greenberg
                                             ----------------------------------
                                             Name:   Sheryl L. Greenberg
                                             Title:  Senior Manager

<PAGE>

                                                                            40

                                        THE FUJI BANK LIMITED

                                        By:  /s/ James Fayen
                                             ----------------------------------
                                             Name:   James Fayen
                                             Title:  Senior VP & Senior Team
                                                     Leader

<PAGE>

                                                                            41

                                        BAYERISCHE HYPO-UND VEREINSBANK AG

                                        By:  /s/ Timothy L. Harrod
                                             ----------------------------------
                                             Name:   Timothy L. Harrod
                                             Title:  Director

                                        By:  /s/ Steven Simons
                                             ----------------------------------
                                             Name:   Steven Simons
                                             Title:  Associate Director

<PAGE>

                                                                            42

                                        LASALLE BANK NA

                                        By:  /s/ Lisa Hopkins
                                             ----------------------------------
                                             Name:   Lisa Hopkins
                                             Title:  Corporate Banking Officer

<PAGE>

                                                                            43

                                        SUMMIT BANK

                                        By:  /s/ James E. Cheatham
                                             ----------------------------------
                                             Name:   James E. Cheatham
                                             Title:  VP - Director

<PAGE>

                                                                            44

                                        MOUNTAIN CLO TRUST

                                        By:  /s/ Hiroshi Nagamine
                                             ----------------------------------
                                             Name:   Hiroshi Nagamine
                                             Title:  Authorized Signatory

<PAGE>

                                                                            45

                                        STEIN ROE FLOATING RATE LIMITED
                                        LIABILITY COMPANY

                                        By:  /s/ James R. Fellows
                                             ----------------------------------
                                             Name:   James R. Fellows
                                             Title:  Vice President

<PAGE>

                                                                            46

                                       MERRILL LYNCH PRIME RATE PORTFOLIO
                                       By: Merrill Lynch Asset Management, L.P.,
                                           as Investment Advisor

                                       By:  /s/ Joseph P. Matteo
                                             ----------------------------------
                                             Name:   Joseph P. Matteo
                                             Title:  Authorized Signatory

                                       MERRILL LYNCH SENIOR FLOATING RATE
                                       FUND, INC.

                                       By:  /s/ Joseph P. Matteo
                                            ----------------------------------
                                            Name:   Joseph P. Matteo
                                            Title:  Authorized Signatory

<PAGE>

                                                                             47

                                        IKB DEUTSCHE INDUSTIEBANK AG LUXEMBOURG
                                        BRANCH

                                        By:  /s/ Edwin Brecht
                                             ----------------------------------
                                             Name:   Edwin Brecht
                                             Title:  Executive Director

                                        By:  /s/ Ana Maria Bohorquez
                                             ----------------------------------
                                             Name:   Ana Maria Bohorquez
                                             Title:  Manager

<PAGE>

                                                                             48

                                        GALAXY CLO 1999-1, LTD.
                                        By: SAI Investment Advisors, Inc.,
                                            its Collateral Manager

                                        By:  /s/ John G. Lapham
                                             ----------------------------------
                                             Name:   John G. Lapham
                                             Title:  Vice President

<PAGE>

                                                                             49

                                        J.H. WHITNEY MARKET VALUE FUND LP

                                        By:  /s/ Daniel J. O'Brien
                                             ----------------------------------
                                             Name:   Daniel J. O'Brien
                                             Title:  Director

<PAGE>

                                                                             50

                                        PACIFICA PARTNERS I, L.P.
                                        By: Imperial Credit Asset Management
                                        As its Investment Manager

                                        By:  /s/ Tom Colwell
                                             ----------------------------------
                                             Name:   Tom Colwell
                                             Title:  Vice President

<PAGE>

                                                                              51

                                        HARCH CLO I LTD.

                                        By: /s/ Michael E. Lewitt
                                            ------------------------------------
                                            Name:    Michael E. Lewitt
                                            Title:   Authorized Signatory
<PAGE>

                                                                             52

                                        BAVARIA TRR CORPORATION

                                        By:  /s/ Lori Rezza
                                             ----------------------------------
                                             Name:   Lori Rezza
                                             Title:  Vice President

<PAGE>

                                                                             53

                                        GENERAL ELECTRIC CAPITAL CORPORATION,
                                        as Documentation Agent and as a Lender

                                        By:  /s/ Woodrow Broadus J.
                                             ----------------------------------
                                             Name:   Woodrow Broadus J.
                                             Title:  Duly Authorized Signatory

<PAGE>

                                                                             54

                                        KZH SHOSHONE LLC

                                        By:  /s/ Peter Chin
                                             ----------------------------------
                                             Name:   Peter Chin
                                             Title:  Authorized Agent

<PAGE>

                                                                             55

                                        KZH RIVERSIDE LLC

                                        By:  /s/ Peter Chin
                                             ----------------------------------
                                             Name:   Peter Chin
                                             Title:  Authorized Agent

<PAGE>

                                                                             56

                                        SEQUILS - PILGRIM I, LTD.
                                        By: Pilgrim Investments, Inc.
                                            as its investment manager

                                        By:  /s/ Michel Prince
                                             ----------------------------------
                                             Name:   Michel Prince
                                             Title:  Vice President

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