Document:

Amendement 1 To Purchase Agreement

 Exhibit 10(c) 
  
 AMENDMENT 1 TO AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 
  
 AMENDMENT, dated as of June 21, 2002 to the Amended and Restated Receivables Purchase Agreement, dated as of June 26, 2001 (the “Receivables Agreement”),
among UNITED RENTALS RECEIVABLES LLC II, a Delaware limited liability company (the “Seller”), UNITED RENTALS, INC., a Delaware corporation, ATLANTIC ASSET SECURITIZATION CORP., a Delaware corporation, GRAMERCY CAPITAL CORPORATION, a
Delaware corporation, CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH, a branch of a banking corporation organized and existing under the laws of Switzerland, and CREDIT LYONNAIS NEW YORK BRANCH, a branch of a French banking corporation, as a Bank and
as agent (the “Agent”) for the Investors and the Banks (the “Amendment”). 
  
  
 RECITALS 
  
 WHEREAS, the Seller and the Agent, have agreed subject
to the terms and conditions of this Amendment, to amend the Receivables Agreement as hereinafter set forth. Terms used herein but not defined herein shall have the meaning assigned thereto in the Receivables Agreement. 
  
 NOW, THEREFORE, the parties agree as follows: 
  
 1. Amendment of Receivables Agreement. The Receivables Agreement and all documents entered into in connection therewith are hereby amended as follows: 
  
 (a) Section 1.02(a) is hereby deleted in its entirety. 
  
 (b) The definition of “Issuer Purchase Limit” in Exhibit I is hereby deleted in its entirety and replaced with the following definition:

  
 “Issuer Purchase Limit” means $125,000,000 for Atlantic and $125,000,000 for
Gramercy; provided, however, that if the Purchase Limit is modified in accordance with Sections 1.01(b) or 2.03 of the
 

 
Agreement then each Issuer Purchase Limit shall be proportionately modified, unless all of the Issuers have agreed to a different allocation or an Issuer elects not to increase its Issuer
Purchase Limit pursuant to Section 1.01(b) of the Agreement or elects not to extend the Facility Termination Date pursuant to Section 2.03 of the Agreement. 
  
 (c) The definition of “Related Bank Commitment” in Exhibit I is hereby deleted in its entirety and replaced with the following definition:

  
 “Related Bank Commitment” of any Bank means the amount set forth in Annex I hereto, as
such Annex may be modified from time to time upon notice to the Agent; providedthat the aggregate Related Bank Commitments of Atlantic’s Related Banks shall be $125,000,000 and the aggregate Related Bank Commitments of
Gramercy’s Related Banks shall be $125,000,000 as such amounts may be reduced (or terminated) pursuant to the next sentence. Any reduction (or termination) of an Issuer Purchase Limit pursuant to the terms of the Agreement shall reduce ratably
(or terminate) the Related Bank Commitment of such Issuer’s Related Banks 
  
 (d) Annex I to the
Receivables Agreement is hereby deleted in its entirety and replaced with Exhibit A attached hereto. 
  
 (e) The last sentence in the second paragraph of Section 2.03 is hereby amended by deleting the number “360” and replacing it with the number “364.” 
  
 2. Execution in Counterparts, Etc. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and
all of which when taken together shall constitute one and the same amendment. The delivery of a signed signature page to this Amendment by telecopy transmission shall constitute due execution and delivery of this Amendment for all purposes.

  
 3. Receivables Agreement in Full Force and Effect. Except as amended by this Amendment, all of the
provisions of the Receivables Agreement and all of the provisions of all other documentation required to be delivered with respect thereto are hereby ratified and confirmed and shall remain in full force and effect from and after the date hereof.

 
 2 

  
 4. Representations and Warranties of the Seller. The Seller makes each of
the representations and warranties contained in Exhibit III to the Receivables Agreement (after giving effect to this Amendment) and also represents that no event has occurred and is continuing that constitutes an Event of Termination or an
Incipient Event of Termination. 
  
 5. References to Receivables Agreement. From and after the date hereof,
(a) all references in the Receivables Agreement to “this Agreement,” “hereof,” “herein,” or similar terms and (b) all references to the Receivables Agreement in each agreement, instrument and other document executed or
delivered in connection with the Receivables Agreement, shall mean and refer to the Receivables Agreement, as amended by this Amendment. 
  
 6. Further Assurances. The parties hereto agree to execute and deliver any and all further agreements, certificates and other documents reasonably necessary to implement the provisions of this Amendment. 

 
 7. Governing Law. This Amendment shall be governed by, and construed in accordance with, the law of the State of New
York without giving effect to the conflict of laws principles thereof. 

 
 3 

  
 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their respective officers thereunto duly authorized, as of the date first above written. 
  
  
 
	 UNITED RENTALS RECEIVABLES LLC II,
 
	 as Seller
 
	 
	 By:
 	 	  
	  	 	 Name:
 
	  	 	 Title:
 
	 
	  
 CREDIT LYONNAIS NEW YORK BRANCH,
 
	 as Agent
 
	 
	 By:
 	 	  
	  	 	 Name:
 
	  	 	 Title:
 

 
  
 Acknowledged and agreed 
 as of the date first written above: 
  
  
 
	 ATLANTIC ASSET SECURITIZATION CORP.
 
	 
	 By:
 	 	 CREDIT LYONNAIS NEW YORK
 
	  	 	 BRANCH, as Attorney-in-Fact
 
	 
	 By:
 	 	  
	  	 	 Name:
 
	  	 	 Title:
 

 
  

 
 4 

 
	 GRAMERCY CAPITAL CORPORATION
 
	 
	 By:
 	 	 CREDIT SUISSE FIRST BOSTON,
 
	  	 	 NEW YORK BRANCH, as Attorney-in-Fact
 
	 
	  
 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	  
 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	 
	  	 	 CREDIT LYONNAIS NEW YORK BRANCH
 
	 
	 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	 
	  	 	 CREDIT SUISSE FIRST BOSTON,
 
	  	 	 NEW YORK BRANCH
 
	 
	 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	  
 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 

 
  

  
 EXHIBIT A 
  
 ANNEX I 
  
 Related Bank Commitments 

 
 
	 Credit Lyonnais New York Branch
 	  	 $125,000,000
 
	 Credit Suisse First Boston, New York Branch
 	  	 $125,000,000Amendment 2 to Purchase Agreement

 Exhibit 10(d) 
 AMENDMENT NO. 2 AND
WAIVER TO AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 
  
 Amendment No. 2 and Waiver, dated as of October 29, 2002 (the “Amendment”), to the Amended and Restated Receivables Purchase Agreement, dated as of June 26, 2001, (as amended to date,
the “Receivables Purchase Agreement”), among UNITED RENTALS RECEIVABLES LLC II, a Delaware limited liability company (the “Seller”), UNITED RENTALS, INC., a Delaware corporation (“URI” or the
“Collection Agent”), ATLANTIC ASSET SECURITIZATION CORP., a Delaware corporation (“Atlantic”), GRAMERCY CAPITAL CORPORATION, a Delaware corporation (“Gramercy”), CREDIT SUISSE FIRST BOSTON, NEW YORK
BRANCH, a branch of a banking corporation organized and existing under the laws of Switzerland (“CSFB”), and CREDIT LYONNAIS NEW YORK BRANCH, a branch of a French banking corporation (“Credit Lyonnais”), as a Bank
and as agent (the “Agent”) for the Investors and the Banks. 
  
  
 RECITALS

  
 WHEREAS, the Seller, the Collection Agent, Atlantic, Gramercy, CSFB and Credit Lyonnais have heretofore entered
into the Receivables Purchase Agreement; 
  
 WHEREAS, pursuant to clause (n) of Exhibit V to the Receivables Purchase
Agreement, a breach of the financial covenants set forth in Annex J to the Receivables Purchase Agreement (“Annex J”) will constitute an Event of Termination under the Receivables Purchase Agreement; 
  
 WHEREAS, the Seller would like to request that Credit Lyonnais, Atlantic, Gramercy, and CSFB waive compliance with such clause (n) for the
period from September 30, 2002 to the effective date of the amendments set forth in paragraph 2 of this Amendment, but solely to the extent the Seller would have been in compliance with such clause (n) if such amendments had been effective as of
September 30, 2002; 
  
 WHEREAS, Atlantic, Gramercy, CSFB and Credit Lyonnais are willing, on and subject to the
terms and conditions set forth below, to waive compliance with such clause (n) for the period from September 30, 2002 to the effective date of the amendments set forth in paragraph 2 of this Amendment, but solely to the extent the Seller would have
been in compliance with such clause (n) if such amendments had been effective as of September 30, 2002; and 
  
 WHEREAS, the Seller, the Collection Agent and the Agent have agreed, subject to the terms and conditions of this Amendment, to amend Annex J to the Receivables Purchase Agreement as hereinafter set forth. Capitalized terms used
herein but not defined herein shall have the meaning assigned thereto in the Receivables Purchase Agreement. 

  
 NOW, THEREFORE, in consideration of the premises and mutual agreements herein
contained, the parties hereto agree as follows: 
  
 1. Waiver. Effective as of September 30, 2002, Atlantic,
Gramercy, CSFB, and Credit Lyonnais hereby waive compliance with clause (n) of Exhibit V to the Receivables Purchase Agreement for the period from September 30, 2002 to the effective date of the amendments set forth in paragraph 2 of this Amendment,
but solely to the extent the Seller would have been in compliance with such clause (n) if such amendments had been effective as of September 30, 2002. Immediately upon the effective date of the amendments set forth in paragraph 2 of this Amendment,
and at all times thereafter, the Seller shall be required to be in compliance with such clause (n) (as amended hereby). 
  
 2. Amendment of Receivables Purchase Agreement. Effective as of October 29, 2002, the provisions of the Amended and Restated Credit Agreement, dated as of April 20, 2001, among URI, United Rentals of Canada, Inc., JPMorgan
Chase Bank (f/k/a The Chase Manhattan Bank), The Chase Manhattan Bank of Canada and the various lenders thereto (the “Credit Agreement”), which are included in Annex J, are hereby amended to the extent of any amendments to such
provisions of the Credit Agreement effected by the Second Amendment to the Credit Agreement attached hereto as Exhibit A (the “Credit Agreement Amendment”), and from and after the date hereof Annex J shall be such provisions of the
Credit Agreement as amended by the Credit Agreement Amendment. 
  
 3. Execution in Counterparts. This
Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same amendment. The delivery of a signed signature page to
this Amendment by telecopy transmission shall constitute due execution and delivery of this Amendment for all purposes. 
  
 4. Receivables Purchase Agreement in Full Force and Effect. Except as amended by this Amendment, all of the provisions of the Receivables Purchase Agreement and all of the provisions of all other documentation required to be
delivered with respect thereto shall remain in full force and effect from and after the date hereof. 
  
 5.
References to Receivables Purchase Agreement. From and after the date hereof, (a) all references in the Receivables Purchase Agreement to “this Agreement,” “hereof,” “herein” or similar terms and (b) all
references to the Receivables Purchase Agreement in each agreement, instrument and other document executed or delivered in connection with the Receivables Purchase Agreement, shall mean and refer to the Receivables Purchase Agreement, as amended by
this Amendment. 
  
 6. Further Assurances. The parties hereto agree to execute and deliver any and all further
agreements, certificates and other documents reasonably necessary to implement the provisions of this Amendment. 

 
 2 

  
 7. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF, OTHER THAN SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW WHICH SHALL APPLY HERETO). 
  
 8. Headings. The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or
interpretation of this Amendment or any provisions hereof. 
  

 
 3 

  
 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their respective officers thereunto duly authorized, as of the date first above written. 
  
 
	 UNITED RENTALS RECEIVABLES LLC II, as Seller
 
	 
	  
 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	 
	 UNITED RENTALS, INC., as Collection Agent
 
	 
	  
 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	 
	 CREDIT LYONNAIS NEW YORK BRANCH, as Agent
 
	 
	 By:
 	 	  
 

	  	 	 Name:
 
	  	 	 Title:
 

 
  
  
 Acknowledged and agreed to 

as of the date first above written: 
  
 
	 ATLANTIC ASSET SECURITIZATION CORP.
 
	 
	 By:
 	 	 CREDIT LYONNAIS NEW YORK
 
	  	 	 BRANCH, as Attorney-in-Fact
 
	 
	  
 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 

 
  
  

  
 
	 GRAMERCY CAPITAL CORPORATION
 
	 
	 By:
 	 	 CREDIT SUISSE FIRST BOSTON,
 
	  	 	 NEW YORK BRANCH, as Attorney-in-Fact
 
	 
	  	 	 By:
 

	  	 	         Name:
 	 	  
	  	 	         Title:
 	 	  
	 
	  	 	 By:
 

	  	 	         Name:
 	 	  
	  	 	         Title:
 	 	  
	 
	 CREDIT LYONNAIS NEW YORK BRANCH
 
	 
	  	 	 By:
 

	  	 	         Name:
 	 	  
	  	 	         Title:
 	 	  
	 
	 CREDIT SUISSE FIRST BOSTON,
 
	 NEW YORK BRANCH
 
	 
	  	 	 By:
 

	  	 	         Name:
 	 	  
	  	 	         Title:
 	 	  
	 
	  	 	 By:
 

	  	 	         Name:
 	 	  
	  	 	         Title:
 	 	  

 
  

  
 EXHIBIT A 
  
 CREDIT AGREEMENT AMENDMENT

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