Document:

EX-10.7

 Exhibit 10.7 

FORM OF SIXTH AMENDMENT TO 

AGREEMENT OF LIMITED PARTNERSHIP OF 

AMERICAN HOMES 4 RENT, L.P. 

DESIGNATION OF 5.000% SERIES B PARTICIPATING PREFERRED UNITS 

[—], 2013 

Pursuant to Section 4.2 and Section 14.1.B of the Agreement of Limited Partnership of American Homes 4 Rent, L.P., as amended by the
First Amendment, dated as of December 31, 2012, the Second Amendment, dated as of February 28, 2013, the Third Amendment, dated as of June 10, 2013, the Fourth Amendment, dated as of June 10, 2013, and the Fifth Amendment, dated
as of October 24, 2013 (collectively, the “Partnership Agreement”), the General Partner hereby amends the Partnership Agreement as follows in connection with the issuance to American Homes 4 Rent (“AH4R”) of 5.000% Series B
Participating Preferred Units (as defined below) of American Homes 4 Rent, L.P. (the “Partnership”) in exchange for the contribution by AH4R of the net proceeds from the public offering of 5.000% Series B Participating Preferred Shares of
beneficial interest, par value $0.01 per share, of AH4R (the “5.000% Series B Participating Preferred Shares”): 
 1. Designation and
Number. A series of Preferred Units (as defined below), designated the “5.000% Series B Participating Preferred Units,” is hereby established. The number of 5.000% Series B Participating Preferred Units shall be 4,600,000.
The 5.000% Series B Participating Preferred Units are being issued to AH4R in connection with the issuance by AH4R of 5.000% Series B Participating Preferred Shares. The designations, preferences and other rights of the 5.000% Series B Participating
Preferred Units contained in this Sixth Amendment are intended to be substantially similar to the designations, preferences and other rights (except voting rights) contained in the Articles Supplementary for the 5.000% Series B Participating
Preferred Shares, and AH4R shall interpret this Sixth Amendment in a manner to consistent with such intent. 
 2. Defined Terms. Capitalized terms
used herein and not otherwise defined shall have the meanings given to such terms in the Partnership Agreement. The following defined terms used in this Sixth Amendment to the Partnership Agreement shall have the meanings specified below: 

“Absence of Suitable Indices Event” shall have the meaning provided in the Articles Supplementary (as defined below). 

“Absence of Suitable Indices Redemption Right” shall have the meaning provided in Section 7(e)(i). 

“Adjusted Value” shall have the meaning provided in Section 7(c)(ii). 

“Articles Supplementary” means the Articles Supplementary dated [—], 2013 to the
Articles of Amendment and Restatement of Declaration of Trust of AH4R designating the 5.000% Series B Participating Preferred Shares. 

“Change of Control” shall have the meaning provided in the Articles Supplementary. 

“Change of Control Conversion Date” shall have the meaning provided in the Articles Supplementary. 

“Change of Control Conversion Right” shall have the meaning provided in Section 9(d)(i). 

“Class A Shares” means the Class A Shares of AH4R. 

“Class A Share Price” shall have the meaning provided in the Articles Supplementary. 

“Conversion Date” shall have the meaning provided in Section 9(c)(ii). 

 “Distribution Record Date” shall have the meaning provided in Section 5(a). 

“Final Liquidation Preference” shall have the meaning provided in Section 6(a). 

“HPA Amount” shall have the meaning provided in the Articles Supplementary. 

“Initial Liquidation Preference” means $25.00 per 5.000% Series B Participating Preferred Unit. 

“Junior Preferred Units” shall have the meaning provided in Section 4. 

“NYSE” shall have the meaning provided in the Articles Supplementary. 

“Original Issue Date” means December 30, 2013, the first date of issue of any 5.000% Series B Participating Preferred Units. 

“Parity Preferred Units” shall have the meaning provided in Section 4. 

“Preferred Return” shall have the meaning provided in Section 5(a). 

“Preferred Unit Distribution Payment Date” shall have the meaning provided in Section 5(a). 

“Preferred Units” means all Partnership Interests designated as preferred units by the General Partner from time to time in
accordance with Section 4.2 of the Partnership Agreement. 
 “Redemption Date” shall have the meaning provided in section
7(c)(i). 
 “Regular Redemption Right” shall have the meaning provided in Section 7(c)(i). 

“Senior Preferred Units” shall have the meaning provided in Section 4. 

“Share Cap” shall have the meaning provided in the Articles Supplementary. 

“Special Redemption Price” shall have the meaning provided in Section 7(d)(i). 

“Special Redemption Right” shall have the meaning provided in Section 7(d)(i). 

“VWAP” shall have the meaning provided in the Articles Supplementary. 

3. Maturity. The 5.000% Series B Participating Preferred Units have no stated maturity and will not be subject to any sinking fund or mandatory
redemption except as provided in Sections 7(e) and 9(e). 
 4. Rank. The 5.000% Series B Participating Preferred Units will, with respect to
distribution rights and rights upon liquidation, dissolution or winding up of the Partnership, rank (a) senior to all Class A Units, Class B Units, LTIP Units, and any class or series of Partnership Units expressly designated as ranking
junior to the 5.000% Series B Participating Preferred Units as to distribution rights and rights upon liquidation, dissolution or winding up of the Partnership (collectively, the “Junior Preferred Units”); (b) on a parity with any
class or series of Partnership Units issued by the Partnership expressly designated as ranking on a parity with the 5.000% Series B Participating Preferred Units as to distribution rights and rights upon liquidation, dissolution or winding up of the
Partnership (the “Parity Preferred Units”); and (c) junior to any class or series of Partnership Units issued by the Partnership expressly designated as ranking senior to the 5.000% Series B Participating Preferred Units as to
distribution rights and rights upon liquidation, dissolution or winding up of the Partnership (the “Senior Preferred Units”). The term “Partnership Units” does not include convertible or exchangeable debt securities of the
Partnership, which will rank senior to the 5.000% Series B Participating Preferred Units prior to conversion or exchange. The 5.000% Series B Participating Preferred Units will also rank junior in right of payment to the Partnership’s
existing and future indebtedness. 

  
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 5. Distributions. 

(a) Subject to the preferential rights of holders of any class or series of Senior Preferred Units of the Partnership, the holders of 5.000%
Series B Participating Preferred Units shall be entitled to receive, when, as and if authorized by the General Partner and declared by the Partnership, out of funds of the Partnership legally available for payment of distributions, cumulative cash
distributions at the applicable annual rate (the “Preferred Return”): 
  

							
		  	 Original Issue Date to but excluding Sept-30, 2020

 
	  	On and after Sept-30, 2020	  	
	Distribution Rate:  	  	 5.000% per annum on the Initial

Liquidation Preference
	  	10.000% per annum on the sum of: the Initial Liquidation Preference plus the HPA Amount (as calculated with respect to the period ended Jun-30, 2020) (if the HPA Amount for such
period is a positive number) per 5.000% Series B Participating Preferred Unit	  	

 Distributions on the 5.000% Series B Participating Preferred Units shall accrue and be cumulative from (and including) the
Original Issue Date and shall be payable quarterly, in equal amounts, in arrears, on the last day of each March, June, September and December of each year (each, a “Preferred Unit Distribution Payment Date”); provided, however, if any
Preferred Unit Distribution Payment Date is not a business day, then the distribution which would otherwise have been payable on such Preferred Unit Distribution Payment Date may be paid on the next succeeding business day with the same force and
effect as if paid on such Preferred Unit Distribution Payment Date, and no interest or additional distributions or other sums shall accrue on the amount so payable from such Preferred Unit Distribution Payment Date to such next succeeding business
day. “Business day” shall mean any day other than a Saturday or Sunday that is neither a legal holiday nor a day on which banking institutions in New York, New York are authorized or required to close. A “distribution
period” shall mean the period commencing from, and including, the Preferred Unit Distribution Payment Date to, but excluding, the next succeeding Preferred Unit Distribution Payment Date. The initial distribution period shall be the period
from, and including, the Original Issue Date to, but excluding, March 31, 2014 to holders of record of the 5.000% Series B Participating Preferred Units as of March 15, 2014. The amount of any distribution payable on the 5.000% Series B
Participating Preferred Units for any partial distribution period will be prorated and computed on the basis of twelve 30-day months and a 360-day year. Distributions will be payable in arrears to holders of record of the 5.000% Series B
Participating Preferred Units as they appear on the records of the Partnership at 5:00 P.M., New York time, on the applicable record date, which shall be the March 15, June 15, September 15, or December 15
immediately preceding the Preferred Unit Distribution Payment Date (each, a “Distribution Record Date”). 
 (b) No distributions
on the 5.000% Series B Participating Preferred Units shall be authorized by the General Partner or declared, paid or set apart for payment by the Partnership at such time as the terms and provisions of any agreement of the General Partner or the
Partnership, including any agreement relating to the indebtedness of any of them, prohibits such authorization, declaration, payment or setting apart for payment or provides that such declaration, payment or setting apart for payment would
constitute a breach thereof or a default thereunder, or if such declaration or payment shall be restricted or prohibited by law. 
 (c)
Notwithstanding anything to the contrary contained herein, distributions on the 5.000% Series B Participating Preferred Units will accrue whether or not the restrictions referred to in Section 5(b) exist, whether or not the Partnership has
earnings, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are authorized or declared. For the avoidance of doubt, no distributions on the 5.000% Series B Participating
Preferred Units shall accrue on any HPA Amount prior to September 30, 2020. 

  
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 (d) Except as provided in Section 5(e) below, no distributions shall be declared and paid or
set apart for payment, and no other distribution of cash or other property may be declared and made, directly or indirectly, on or with respect to, any Class A Units, Class B Units, LTIP Units, Parity Preferred Units or Junior Preferred Units
of the Partnership (other than a distribution paid in units of, or options, warrants or rights to subscribe for or purchase units of, Class A Units, Class B Units, LTIP Units or Junior Preferred Units) for any period, nor shall Class A
Units, Class B Units, LTIP Units, Parity Preferred Units or Junior Preferred Units be redeemed, purchased or otherwise acquired for any consideration, nor shall any funds be paid or made available for a sinking fund for the redemption of any such
units by the Partnership, directly or indirectly (except by conversion into or exchange for, or options, warrants or rights to purchase or subscribe for, Class A Units, Class B Units, LTIP Units or Junior Preferred Units, and except for
purchases or exchanges pursuant to a purchase or exchange offer made on the same terms to all holders of 5.000% Series B Participating Preferred Units and all holders of Parity Preferred Units), unless full cumulative distributions on the 5.000%
Series B Participating Preferred Units for all past distribution periods shall have been or contemporaneously are declared and paid or declared and a sum sufficient for the payment thereof is set apart for such payment. 

(e) When distributions are not paid in full (or a sum sufficient for such full payment is not so set apart) on the 5.000% Series B
Participating Preferred Units and any Parity Preferred Units, all distributions declared on the 5.000% Series B Participating Preferred Units and any Parity Preferred Units shall be declared pro rata so that the amount of distributions declared per
5.000% Series B Participating Preferred Unit and such Parity Preferred Units shall in all cases bear to each other the same ratio that accrued distributions per 5.000% Series B Participating Preferred Unit and such Parity Preferred Units (which
shall not include any accrual in respect of unpaid distributions on any Parity Preferred Units for prior distribution periods if such Parity Preferred Units do not have a cumulative distribution) bear to each other. No interest, or sum of money
in lieu of interest, shall be payable in respect of any distribution payment or payments on 5.000% Series B Participating Preferred Units which may be in arrears. 

(f) Holders of 5.000% Series B Participating Preferred Units shall not be entitled to any distribution, whether payable in cash, property or
units of the Partnership, in excess of full cumulative distributions on the 5.000% Series B Participating Preferred Units as provided above. Any distribution made on the 5.000% Series B Participating Preferred Units shall first be credited
against the earliest accrued but unpaid distributions due with respect to such units which remains payable. Accrued but unpaid distributions on 5.000% Series B Participating Preferred Units will accumulate as of the Preferred Unit Distribution
Payment Date on which they first become payable or on the date of redemption, as the case may be. 
 (g) For the avoidance of doubt, in
determining whether a distribution (other than upon voluntary or involuntary liquidation), redemption or other acquisition of the Partnership Units is permitted under Delaware law, no effect shall be given to the amounts that would be needed, if the
Partnership were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of holders of Partnership Units whose preferential rights are superior to those receiving the distribution. 

6. Liquidation Preference. 
 (a) Upon any
voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Partnership, before any distribution or payment shall be made to the holders of any Class A Units, Class B Units, LTIP Units, or Junior Preferred Units, the
holders of the 5.000% Series B Participating Preferred Units then outstanding shall be entitled to be paid, or have the Partnership declare and set apart for payment, out of the assets of the Partnership legally available for distribution to its
Partners after payment or provision for payment of all debts and other liabilities of the Partnership and any liquidation preference owing in respect of any Senior Preferred Units, a liquidation preference in cash or property at fair market value,
as determined by the General Partner, the sum of: (i) the Initial Liquidation Preference, (ii) the HPA Amount (if positive), and (iii) an amount per unit equal to any accrued and unpaid distributions to, but excluding, the date of
payment or the date the amount for payment is set apart for payment (the “Final Liquidation Preference”). 
 (b) If upon any such
voluntary or involuntary liquidation, dissolution or winding up of the Partnership, the available assets of the Partnership are insufficient to pay the full amount of the Final Liquidation Preference on all outstanding 5.000% Series B Participating
Preferred Units and the corresponding amounts payable on all outstanding Parity Preferred Units, then the holders of 5.000% Series B Participating Preferred Units and Parity Preferred Units shall share ratably in any such distribution of assets in
proportion to the full amount of the Final Liquidation Preference to which they would otherwise be respectively entitled. 

  
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 (c) Until September 30, 2020, the HPA Amount payable upon any voluntary or involuntary
liquidation, dissolution or winding up of the affairs of the Partnership, shall be subject to a cap as provided in Section 6(e) of the Articles Supplementary. 

(d) Upon any voluntary or involuntary liquidation, dissolution or winding up of the Partnership, after payment shall have been made in full to
the holders of the 5.000% Series B Participating Preferred Units and any Parity Preferred Units, any other series or class or classes of Junior Preferred Units shall be entitled to receive any and all assets remaining to be paid or distributed, and
the holders of the 5.000% Series B Participating Preferred Units and any Parity Preferred Units shall not be entitled to share therein. 

(e) After payment of the full amount of the Final Liquidation Preference to which they are entitled, holders of 5.000% Series B Participating
Preferred Units will have no right or claim to any of the remaining assets of the Partnership. 
 (f) For the avoidance of doubt, the
consolidation or merger of the Partnership with or into another entity, the merger of another entity with or into the Partnership, a statutory unit exchange by the Partnership or the sale, lease, transfer or conveyance of all or substantially all of
the assets or business of the Partnership shall not be considered a liquidation, dissolution or winding up of the affairs of the Partnership. 

(g) Notice of liquidation, dissolution or winding up of the Partnership shall be consistent with the notice procedures set forth in
Section 5(d) of the Articles Supplementary. 
 7. Redemption. 

(a) The 5.000% Series B Participating Preferred Units are not redeemable except as otherwise provided in this Section 7.

(b) Until September 30, 2020, the HPA Amount payable upon any redemption shall be subject to a cap as provided in Section 6(e) of the
Articles Supplementary. 
 (c) Redemption by the Partnership. 

 

	 	i.	After September 30, 2017 but prior to September 30, 2020, if and when AH4R exercises its option to redeem 5.000% Series B Participating Preferred Shares as provided in Section 7(a)(i) of the Articles Supplementary,
the Partnership will redeem all but not less than all of the 5.000% Series B Participating Preferred Units (no partial redemptions are permitted), for cash, at a redemption price equal to the Final Liquidation Preference to, but excluding, the date
fixed for redemption (such date, the “Redemption Date”) (such right, the “Regular Redemption Right”).

  

	 	ii.	At any time after September 30, 2020, if and when AH4R exercises its option to redeem 5.000% Series B Participating Preferred Shares as provided in Section 7(a)(ii) of the Articles Supplementary, the Partnership,
will redeem all but not less than all of the 5.000% Series B Participating Preferred Units (no partial redemptions are permitted), for cash, at a redemption price equal to the Initial Liquidation Preference, plus the HPA Amount calculated with
respect to the period ended June 30, 2020 (if the HPA Amount for such period is a positive number) (the “Adjusted Value”), plus any accrued and unpaid distributions on the 5.000% Series B Participating Preferred Units to, but
excluding, the Redemption Date. 

  

	 	iii.	 Unless full cumulative distributions on all 5.000% Series B Participating Preferred Units shall have been or contemporaneously are declared and paid
or declared and a sum sufficient for the payment thereof set apart for payment for all past distribution periods, the Partnership shall not purchase or otherwise acquire directly or indirectly for any consideration, nor shall any monies be paid to
or be made available for a sinking fund for 

  
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the redemption of, any 5.000% Series B Participating Preferred Units (except by conversion into or exchange for, or options, warrants or rights to purchase or subscribe for Class A Units, Class B
Units, LTIP Units or Junior Preferred Units of the Partnership); provided, however, that the foregoing shall not prevent the redemption or purchase of 5.000% Series B Participating Preferred Units by the Partnership in order to ensure that
the General Partner remains qualified as a REIT for federal income tax purposes, or the purchase or acquisition of 5.000% Series B Participating Preferred Units pursuant to a purchase or exchange offer made on the same terms to holders of all
outstanding 5.000% Series B Participating Preferred Units. 

  

	 	iv.	Immediately prior to any redemption of 5.000% Series B Participating Preferred Units, the Partnership shall pay, in cash, any accrued and unpaid distributions on the 5.000% Series B Participating Preferred Units to, but
excluding, the Redemption Date, unless a Redemption Date falls after a Distribution Record Date and prior to the corresponding Preferred Unit Distribution Payment Date, in which case each holder of 5.000% Series B Participating Preferred Units at
the close of business on such Distribution Record Date shall be entitled to the distribution payable on such units on the corresponding Preferred Unit Distribution Payment Date (including any accrued and unpaid distributions for prior distribution
periods) notwithstanding the redemption of such units before such Preferred Unit Distribution Payment Date. Except as provided above, the Partnership will make no payment or allowance for unpaid distributions, whether or not in arrears, on
5.000% Series B Participating Preferred Units for which a notice of redemption has been given. 

  

	 	v.	Notice of redemption of the 5.000% Series B Participating Preferred Units shall be consistent with the notice procedures set forth in Section 7(a)(iii)(A) of the Articles Supplementary.

 

	 	vi.	Holders of 5.000% Series B Participating Preferred Units to be redeemed shall surrender such 5.000% Series B Participating Preferred Units at the place or places designated in such notice and, upon surrender of the
units, such 5.000% Series B Participating Preferred Units shall be redeemed by the Partnership at the redemption price plus any accrued and unpaid distributions payable upon such redemption. If notice of redemption of any of the 5.000% Series B
Participating Preferred Units has been given and if the funds necessary for such redemption have been set apart by the Partnership for the benefit of the holders of any 5.000% Series B Participating Preferred Units so called for redemption, then,
from and after the Redemption Date, distributions will cease to accrue on such 5.000% Series B Participating Preferred Units, such 5.000% Series B Participating Preferred Units shall no longer be deemed outstanding and all rights of the holders of
such 5.000% Series B Participating Preferred Units will terminate, except the right to receive the redemption price and any accrued and unpaid distributions to, but excluding, the Redemption Date; provided, however, if the Redemption Date
falls after a Distribution Record Date and prior to the corresponding Preferred Unit Distribution Payment Date, each holder of 5.000% Series B Participating Preferred Units so called for redemption at the close of business on such Distribution
Record Date shall be entitled to the distribution payable on such units on the corresponding Preferred Unit Distribution Payment Date notwithstanding the redemption of such units before such Preferred Unit Distribution Payment Date.

  

	 	vii.	All 5.000% Series B Participating Preferred Units redeemed or otherwise acquired by the Partnership in any manner whatsoever shall be retired and reclassified as authorized but unissued Preferred Units, without
designation as to class or series, and may thereafter be reissued as any class or series of Preferred Units in accordance with the applicable provisions of the Partnership Agreement. 

  
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 (d) Special Redemption Right upon a Change of Control. 

 

	 	i.	Upon the occurrence of a Change of Control, if and when AH4R exercises its option to redeem 5.000% Series B Participating Preferred Shares as provided in Section 7(b)(i) of the Articles Supplementary, the
Partnership will redeem all but not less than all of the 5.000% Series B Participating Preferred Units (no partial redemptions are permitted) at any time within 120 days after the date on which the Change of Control has occurred (the “Special
Redemption Right”), for cash equal to the Final Liquidation Preference, to, but excluding, the Redemption Date (the “Special Redemption Price”). If, prior to the Change of Control Conversion Date, the Partnership exercises its Regular
Redemption Right, Special Redemption Right, or Absence of Suitable Indices Redemption Right in connection with a Change of Control, holders of the 5.000% Series B Participating Preferred Units shall not be permitted to exercise their Change of
Control Conversion Right (as defined in Section 9(d)(i) below). 

  

	 	ii.	Unless full cumulative distributions on all 5.000% Series B Participating Preferred Units shall have been or contemporaneously are declared and paid or declared and a sum sufficient for the payment thereof set apart for
payment for all past distribution periods, the Partnership shall not purchase or otherwise acquire directly or indirectly for any consideration, nor shall any monies be paid to or be made available for a sinking fund for the redemption of, any
5.000% Series B Participating Preferred Units (except by conversion into or exchange for, or options, warrants or rights to purchase or subscribe for Class A Units, Class B Units, LTIP Units or Junior Preferred Units of the Partnership);
provided, however, that the foregoing shall not prevent the redemption or purchase of 5.000% Series B Participating Preferred Units by the Partnership in order to ensure that the General Partner remains qualified as a REIT for federal income
tax purposes, or the purchase or acquisition of 5.000% Series B Participating Preferred Units pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding 5.000% Series B Participating Preferred Units.

  

	 	iii.	Immediately prior to any redemption of 5.000% Series B Participating Preferred Units, the Partnership shall pay, in cash, any accrued and unpaid distributions on the 5.000% Series B Participating Preferred Units to, but
excluding, the Redemption Date, unless a Redemption Date falls after a Distribution Record Date and prior to the corresponding Preferred Unit Distribution Payment Date, in which case each holder of 5.000% Series B Participating Preferred Units at
the close of business on such Distribution Record Date shall be entitled to the distribution payable on such units on the corresponding Preferred Unit Distribution Payment Date (including any accrued and unpaid distributions for prior distribution
periods) notwithstanding the redemption of such units before such Preferred Unit Distribution Payment Date. Except as provided above, the Partnership will make no payment or allowance for unpaid distributions, whether or not in arrears, on
5.000% Series B Participating Preferred Units for which a notice of redemption has been given. 

  

	 	iv.	Notice of redemption of the 5.000% Series B Participating Preferred Units shall be consistent with the notice procedures set forth in Section 7(b)(ii)(A) of the Articles Supplementary. 

 

	 	v.	 Holders of 5.000% Series B Participating Preferred Units to be redeemed shall surrender such 5.000% Series B Participating Preferred Units at the
place or places designated in such notice and, upon surrender of the units, such 5.000% Series B Participating Preferred Units shall be redeemed by the Partnership at the redemption price plus any accrued and unpaid distributions payable upon such
redemption. If notice of redemption of any of the 5.000% Series B Participating Preferred Units has been given and if the funds necessary for such redemption have been set apart by the Partnership for the benefit of the holders of any 5.000%
Series B Participating Preferred Units so called for redemption, then, from and after the Redemption Date, distributions will cease to accrue on such 5.000% Series B Participating Preferred Units, such 5.000% Series B Participating Preferred Units
shall no longer be deemed outstanding and all rights of the 

  
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holders of such 5.000% Series B Participating Preferred Units will terminate, except the right to receive the redemption price and any accrued and unpaid distributions to, but excluding, the
Redemption Date; provided, however, if the Redemption Date falls after a Distribution Record Date and prior to the corresponding Preferred Unit Distribution Payment Date, each holder of 5.000% Series B Participating Preferred Units so called
for redemption at the close of business on such Distribution Record Date shall be entitled to the distribution payable on such units on the corresponding Preferred Unit Distribution Payment Date notwithstanding the redemption of such units before
such Preferred Unit Distribution Payment Date. 

  

	 	vi.	All 5.000% Series B Participating Preferred Units redeemed or otherwise acquired by the Partnership in any manner whatsoever shall be retired and reclassified as authorized but unissued Preferred Units, without
designation as to class or series, and may thereafter be reissued as any class or series of Preferred Units in accordance with the applicable provisions of the Partnership Agreement. 

(e) Redemption upon Absence of Suitable Indices Event 
  

	 	i.	If, following an Absence of Suitable Indices Event, AH4R exercises its option to redeem the 5.000% Series B Participating Preferred Shares as provided in Section 7(c) of the Articles Supplementary, the Partnership
shall redeem all of the 5.000% Series B Participating Preferred Units for cash at a redemption price equal to the Final Liquidation Preference (the “Absence of Suitable Indices Redemption Right”). 

 

	 	ii.	Notice of redemption of the 5.000% Series B Participating Preferred Units shall be consistent with the notice procedures set forth in Section 7(c)(ii)(A) of the Articles Supplementary. 

 

	 	iii.	Upon any redemption of the 5.000% Series B Participating Preferred Units, the Partnership shall pay any accrued and unpaid distributions in arrears for any distribution period ending on or prior to the redemption date.
If a redemption date falls after a Distribution Record Date for a 5.000% Series B Participating Preferred Unit distribution payment and prior to the corresponding Preferred Unit Distribution Payment Date, then each holder of the 5.000% Series B
Participating Preferred Units at the close of business on such Distribution Record Date shall be entitled to the distribution payable on such 5.000% Series B Participating Preferred Units on the corresponding Preferred Unit Distribution Payment Date
notwithstanding the redemption of such 5.000% Series B Participating Preferred Units before such Preferred Unit Distribution Payment Date. Except as provided above, the Partnership shall make no payment or allowance for unpaid distributions, whether
or not in arrears, on any 5.000% Series B Participating Preferred Units called for redemption. 

  

	 	iv.	If full cumulative distributions on the 5.000% Series B Participating Preferred Units and any other series or class or classes of Parity Preferred Units have not been paid or declared and set apart for payment, except
as otherwise permitted under the Partnership Agreement, the Partnership may not purchase, redeem or otherwise acquire 5.000% Series B Participating Preferred Units or any Parity Preferred Units other than in exchange for Parity Preferred Units.

  

	 	v.	 On and after the date fixed for redemption, distributions shall cease to accrue on the 5.000% Series B Participating Preferred Units called for
redemption (except that, in the case of a redemption date after a Distribution Record Date and prior to the related Preferred Unit Distribution Payment Date, holders of 5.000% Series B Participating Preferred Units on the applicable Distribution
Record Date will be entitled on such Preferred Unit Distribution Payment Date to receive the distribution payable on such shares on the corresponding Preferred Unit Distribution Payment Date), such shares shall

  
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no longer be deemed to be outstanding and all rights of the holders of such shares as holders of 5.000% Series B Participating Preferred Units shall cease except the right to receive the cash
payable upon such redemption, without interest from the date of such redemption. 

 8. Voting Rights. Holders of the 5.000% Series B
Participating Preferred Units will not have any voting rights. 
 9. Conversion.

(a) The 5.000% Series B Participating Preferred Units are not convertible or exchangeable for any other property or securities except as
otherwise provided in this Section 9. 
 (b) Until September 30, 2020, the HPA Amount payable upon any conversion shall be subject to a
cap as provided in Section 6(e) of the Articles Supplementary. 
 (c) Conversion by the Partnership. 

 

	 	i.	After September 30, 2017, if and when AH4R exercises its option to convert 5.000% Series B Participating Preferred Shares as provided in Section 11(a) of the Articles Supplementary, the Partnership will convert all
(no partial conversions are permitted) of the 5.000% Series B Participating Preferred Units into Class A Units in the Partnership in accordance with this Section 9. 

 

	 	ii.	If such one-time conversion occurs after September 30, 2017 but before September 30, 2020, the formula for determining the conversion ratio per 5.000% Series B Participating Preferred Unit shall be equal to:
(A) the sum of (1) the Initial Liquidation Preference, (2) the HPA Amount for the relevant period (if positive), and (3) any accrued and unpaid distributions thereon to, but excluding, the 4th business day following the notice of conversion (the “Conversion Date”), divided by (B) the VWAP on the date the notice of conversion is issued. 

 

	 	iii.	If such one-time conversion occurs at any time on or after September 30, 2020, the Partnership will convert all but not less than all (no partial redemptions are permitted) of the 5.000% Series B Participating Preferred
Units using a conversion formula equal to: (A) the Adjusted Value, plus any accrued and unpaid distributions thereon to, but excluding, the Conversion Date, divided by (B) the VWAP on the date the notice of conversion is issued.

  

	 	iv.	The foregoing shall not prevent the conversion of 5.000% Series B Participating Preferred Units by the Partnership in order to ensure that the General Partner remains qualified as a REIT for federal income tax purposes.

  

	 	v.	No fractional Class A Units shall be issued upon conversion of the 5.000% Series B Participating Preferred Units. In lieu of fractional units, holders of the 5.000% Series B Participating Preferred Units shall be
entitled to receive the cash value of such fractional units based on the applicable per share VWAP. 

 (d) Conversion Upon
a Change of Control. 
  

	 	i.	 Upon the occurrence of a Change of Control, each holder of the 5.000% Series B Participating Preferred Units shall have the right (the “Change of
Control Conversion Right”), subject to the Special Redemption Right of the Partnership, to convert some or all of the 5.000% Series B Participating Preferred Units held by such holder on the relevant Change of Control Conversion Date into a
number of Class A Units per 5.000% 

  
 9 

	 	
Series B Participating Preferred Unit equal to the lesser of (A) the quotient obtained by dividing (1) the sum of (x) the Initial Liquidation Preference, plus (y) the HPA
Amount for the relevant period (if positive), plus (z) any accrued and unpaid distributions thereon to, but excluding, the Change of Control Conversion Date, except if such Change of Control Conversion Date is after a Distribution Record Date
for a Preferred Unit Distribution Payment Date for which distributions have been declared and prior to the corresponding Preferred Unit Distribution Payment Date, in which case the amount pursuant to this clause (1)(z) shall equal $0.00 in
respect of such distribution payment date to be made on such Preferred Unit Distribution Payment Date and such declared distribution shall instead be paid, on such distribution payment date, to the holder of record of the 5.000% Series B
Participating Preferred Units to be converted as of 5:00 P.M. New York time, on such record date), by (2) the Class A Share Price, and (B) the Share Cap. 

 

	 	ii.	Notice of occurrence of the Change of Control shall be consistent with the notice procedures set forth in Section 11(b)(ii) of the Articles Supplementary. 

 

	 	iii.	Exercise of the Change of Control Conversion Right shall be consistent with the procedures set forth in Sections 11(b)(iv) and (v) of the Articles Supplementary. 

 

	 	iv.	No fractional Class A Units shall be issued upon conversion of the 5.000% Series B Participating Preferred Units. In lieu of fractional units, holders of the 5.000% Series B Participating Preferred Units shall be
entitled to receive the cash value of such fractional units based on the Class A Unit Price. 

  

	 	v.	The Partnership will deliver all Class A Units (including, without limitation, cash in lieu of fractional Class A Units) and any other property owing upon conversion no later than the 4th business day following the Change of Control Conversion Date. 

 (e)
Conversion upon an Absence of Suitable Indices Event. 
  

	 	i.	If, following an Absence of Suitable Indices Event, AH4R exercises its option to convert the 5.000% Series B Participating Preferred Shares as provided in Section 11(c) of the Articles Supplementary, the
Partnership shall convert all but not less than all of the 5.000% Series B Participating Preferred Units into Class A Units in accordance with this Section (9)(e). 

 

	 	ii.	The formula for determining the conversion ratio per 5.000% Series B Participating Preferred Unit shall be equal to (A) the Adjusted Value, plus any accrued and unpaid distributions to, but not including, the
Conversion Date, divided by (B) the VWAP on the date the notice of conversion is issued. 

  

	 	iii.	 The Partnership will reserve and keep available at all times, free of any preemptive rights arising by operation of law, under the Partnership
Agreement, under any agreement or instrument to which the Partnership or any of its subsidiaries is a party or otherwise, out of its authorized but unissued units a sufficient number of Class A Units issuable upon conversion of the outstanding
5.000% Series B Participating Preferred Units until such time as all of the outstanding 5.000% Series B Participating Preferred Units shall have been converted, repurchased and retired or redeemed and retired. Upon conversion of each 5.000% Series B
Participating Preferred Unit, the Partnership shall take all such actions as are necessary in order to ensure that the Class A Units issuable with respect to such conversion shall be validly issued, fully paid and nonassessable, free and clear
of all taxes, liens, charges and encumbrances with respect to the issuance thereof, other than those imposed by the holder of such 5.000% Series B Participating Preferred Unit. The Partnership shall not close its books against the transfer of 5.000%
Series B Participating Preferred Units or of Class A Units issued or issuable upon conversion of 5.000% Series 

  
 10 

	 	
B Participating Preferred Units in any manner which interferes with the timely conversion of 5.000% Series B Participating Preferred Units. The Partnership shall assist and cooperate with any
holder of 5.000% Series B Participating Preferred Units required to make any governmental filings or obtain any governmental approval prior to or in connection with any conversion of 5.000% Series B Participating Preferred Units hereunder
(including, without limitation, making any filings required to be made by the Partnership). All Class A Units which are so issuable shall, when issued, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and
charges. 

  

	 	iv.	No fractional Class A Units shall be issued upon conversion of the 5.000% Series B Participating Preferred Units. In lieu of fractional units, holders of the 5.000% Series B Participating Preferred Units shall be
entitled to receive the cash value of such fractional units based on the Class A Unit Price. 

 10. Allocation of Profit and Loss.
Allocations of the Partnership’s items of income, gain, loss and deduction shall be allocated among holders of 5.000% Series B Participating Preferred Units in accordance with Article VI of the Partnership Agreement. 

11. Except as modified herein, all terms and conditions of the Partnership Agreement shall remain in full force and effect, which terms and conditions the
General Partner hereby ratifies and confirms. 

  
 11 

 IN WITNESS WHEREOF, the undersigned has executed this Amendment as of the date first set forth
above. 
  

					
	 GENERAL PARTNER:
  

AMERICAN HOMES 4 RENT

		
	By:	 	 
		 	Name:	 	
		 	Title:Exhibit 10.1

 Exhibit 10.1 

SECOND AMENDMENT TO 

REVOLVING CREDIT AND TERM LOAN AGREEMENT 

THIS SECOND AMENDMENT TO REVOLVING CREDIT AND TERM LOAN AGREEMENT (“Second Amendment”) is made as of this 19th day of
December, 2013 by and among Universal Truckload Services, Inc. (the “Borrower”), the Lenders (as defined below) and Comerica Bank, as administrative agent for the Lenders (in such capacity, “Agent”). 

RECITALS 
 A. The Borrower entered into
that certain Revolving Credit and Term Loan Agreement dated as of August 28, 2012 (as amended, restated or otherwise modified from time to time, the “Credit Agreement”) with Agent and the financial institutions from time to time
signatory thereto (each, individually a “Lender,” and any and all such financial institutions collectively the “Lenders”), under which the Lenders extended (or committed to extend) credit to the Borrower, as set forth therein.

 B. The Borrower has requested that Agent and the Lenders make certain amendments to the Credit Agreement, and Agent and the Lenders are
willing to do so, but only on the terms and conditions set forth in this Second Amendment. 
 NOW THEREFORE, in consideration of the
foregoing and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Borrower, Agent and the Lenders agree as follows: 
  

	1.	Amendments. 

 (a) The following terms defined in Section 1.1. of the Credit
Agreement are hereby amended and restated as follows: 
 “Advance(s)” shall mean, as the context may indicate, a borrowing
requested by the Borrower, and made by the Revolving Credit Lenders under Section 2.1 hereof, the Equipment Credit Lenders under Section 2.A.1, the Term Loan Lenders under Section 4.1 hereof, the Term Loan B Lenders under
Section 4.A.1 hereof, or the Swing Line Lenders under Section 2.5 hereof, including without limitation any readvance, refunding or conversion of such borrowing pursuant to Section 2.3, 2.A.3, 2.5, 4.4 or 4.A.4 hereof, and any advance
deemed to have been made in respect of a Letter of Credit under Section 3.6(a) hereof, and shall include, as applicable, a Eurodollar-based Advance, a Base Rate Advance and a Quoted Rate Advance. 

“Applicable Interest Rate” shall mean, (i) with respect to each Revolving Credit Advance, Equipment Credit Advance, Term Loan
Advance and Term Loan B Advance, the Eurodollar-based Rate or the Base Rate, and (ii) with respect to each Swing Line Advance, 

 
the Base Rate or, if made available to the Borrower by the applicable Swing Line Lender at its option, the Quoted Rate, in each case as selected by the Borrower from time to time subject to the
terms and conditions of this Agreement. 
 “Consolidated EBITDA” shall mean, as of any date of determination and for any
period of determination, the sum of the Net Income of Borrower and its Subsidiaries, for the applicable period ending on such date of determination, plus, to the extent deducted in computing such Net Income, (i) income taxes paid or payable for
that period (including Michigan Business Tax and similar taxes), (ii) interest expense for that period, (iii) depreciation and amortization expense for that period, and (iv) non-cash charges during such period, minus the sum of
(i) cash payments made during such period with respect to non-cash charges which have previously been added back in the calculation of Consolidated EBITDA and (ii) to the extent included in the calculation of Net Income, non-cash gains
during such period, in each case determined in accordance with GAAP. Provided that: (A) if Borrower or any of its Subsidiaries has acquired any company or business during such period of determination, Consolidated EBITDA shall be calculated
assuming that such company or business acquired had been under Borrower’s ownership and control for the entire period of determination; and (B) if Borrower or any of its subsidiaries has disposed of any company or business during such
period of determination, Consolidated EBITDA shall be calculated assuming that such company or business had been disposed of for the entire period of determination, in the case of either (A) or (B) such calculation shall be on a basis
reasonably satisfactory to the Agent. 
 “Excess Cash Flow” shall mean, for any Fiscal Year, the sum of (without
duplication) (a) Net Income for such Fiscal Year plus (b) to the extent deducted in determining Net Income for such Fiscal Year, depreciation and amortization and non-cash losses for such Fiscal Year, plus (c) if applicable, any net
decrease in Consolidated Working Capital for such fiscal year, minus (d) the sum of (i) any net increases in Consolidated Working Capital for such Fiscal Year, (ii) Capital Expenditures made during such Fiscal Year excluding any
Capital Expenditures financed with money borrowed (other than with Revolving Credit Advances and Swing Line Advances), (iii) Permitted Acquisitions and other acquisitions approved by the Majority Lenders made during such Fiscal Year excluding
the portion of any such acquisition funded with borrowed money (other than with Revolving Credit Advances and Swing Line Advances) or seller financing, (iv) the amount of any optional prepayment of the Term Loan and/or Term Loan B

  
 2 

 
during such Fiscal Year, (v) the amount of all scheduled payments and mandatory prepayments of principal on Funded Debt made during such Fiscal Year (excluding any payment on the Revolving
Credit or any other revolving loan facility for which there is no corresponding permanent reduction in the applicable revolving credit facility) made during such Fiscal Year and (vi) any non-cash credits or gains included in Net Income for such
Fiscal Year. 
 “Final Maturity Date” shall mean the last to occur of (i) the Revolving Credit Maturity Date,
(ii) the Term Loan Maturity Date, (iii) the Term Loan B Maturity Date, or (iv) the Equipment Credit Maturity Date. 

“Interest Period” shall mean (a) with respect to a Eurodollar-based Advance, a Eurodollar-Interest Period, commencing on the
day a Eurodollar-based Advance is made, or on the effective date of an election of the Eurodollar-based Rate made under Section 2.3, 4.4 or 4.A.4 hereof, and (b) with respect to a Swing Line Advance carried at the Quoted Rate, an interest
period of 30 days (or any lesser number of days agreed to in advance by the Borrower, Agent and the applicable Swing Line Lender); provided, however that (i) any Interest Period which would otherwise end on a day which is not a Business Day
shall end on the next succeeding Business Day, except that as to an Interest Period in respect of a Eurodollar-based Advance, if the next succeeding Business Day falls in another calendar month, such Interest Period shall end on the next preceding
Business Day, (ii) when an Interest Period in respect of a Eurodollar-based Advance begins on a day which has no numerically corresponding day in the calendar month during which such Interest Period is to end, it shall end on the last Business
Day of such calendar month, and (iii) no Interest Period in respect of any Advance shall extend beyond the Revolving Credit Maturity Date, the Term Loan Maturity Date, the Term Loan B Maturity Date or the Equipment Credit Maturity Date, as
applicable. 
 “Lenders” shall have the meaning set forth in the preamble, and shall include the Revolving Credit Lenders,
the Equipment Credit Lenders, the Term Loan Lenders, the Term Loan B Lenders, the Swing Line Lenders and any permitted assignee which becomes a Lender pursuant to Section 13.8 hereof. 

“Majority Lenders” shall mean at any time, Lenders holding more than 50.0% of the sum of (i) the Revolving Credit Aggregate
Commitment (or, if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the aggregate principal amount outstanding under the 

  
 3 

 
Revolving Credit), plus (ii) the Equipment Credit Aggregate Commitment (or, if the Equipment Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise),
the aggregate principal amount outstanding under the Equipment Credit), plus (iii) the aggregate principal amount then outstanding under the Term Loan, plus (iv) the aggregate principal amount then outstanding under Term Loan B; provided
that, for purposes of determining Majority Lenders hereunder, the Letter of Credit Obligations and principal amount outstanding under the Swing Line shall be allocated among the Revolving Credit Lenders based on their respective Revolving Credit
Percentages; provided further that so long as there are fewer than three Lenders, considering any Lender and its Affiliates as a single Lender, “Majority Lenders” shall mean all Lenders. The Commitments of, and portion of the Indebtedness
attributable to, any Defaulting Lender shall be excluded for purposes of making a determination of “Majority Lenders”. 

“Notes” shall mean the Revolving Credit Notes, the Equipment Credit Notes, the Swing Line Notes, the Term Loan Notes, and the Term
Loan B Notes. 
 “Percentage” shall mean, as applicable, the Revolving Credit Percentage, the Term Loan Percentage, the Term
Loan B Percentage, the Equipment Credit Percentage or the Weighted Percentage. 
 “Revolving Credit Aggregate Commitment”
shall mean One Hundred Twenty Million Dollars ($120,000,000), subject to increases pursuant to Section 2.13 hereof by an amount not to exceed the Revolving Credit Optional Increase, subject to reduction or termination under Section 2.11 or
9.2 hereof. 
 “Weighted Percentage” shall mean with respect to any Lender, its weighted percentage calculated by dividing
(i) the sum of (w) its Revolving Credit Commitment Amount, plus (x) its Term Loan Amount, plus (y) its Term Loan B Amount, plus (z) its Equipment Credit Commitment Amount, by (ii) the sum of (w) the Revolving
Credit Aggregate Commitment (or, if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the aggregate principal amount outstanding under the Revolving Credit, including any outstanding
Letter of Credit Obligations and outstanding Swing Line Advances), plus (x) the aggregate principal amount of Indebtedness outstanding under the Term Loan, plus (y) the aggregate principal amount of Indebtedness outstanding under Term Loan
B, plus (z) the Equipment Credit Aggregate 

  
 4 

 
Commitment (or, if the Equipment Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the aggregate principal amount outstanding under the Equipment
Credit. Schedule 1.2 reflects each Lender’s Weighted Percentage and may be revised by the Agent from time to time to reflect changes in the Weighted Percentages of the Lenders. 

(b) Clause (g) of “Permitted Liens” defined in Section 1.1. of the Credit Agreement is hereby amended and restated as
follows: 
 “(g) Liens securing (i) Permitted Westport Debt as identified on Schedule 8.2, and (ii) Debt permitted by
Section 8.1(c), provided that (A) such Liens are created upon fixed or capital assets acquired by the Borrower or the applicable Subsidiary after August 28, 2012 (including without limitation by virtue of a loan or a Capitalized
Lease), (B) any such Lien is created solely for the purpose of securing indebtedness representing or incurred to finance the cost of the acquisition of the item of property subject thereto, (C) the principal amount of the Debt secured by
any such Lien shall at no time exceed 100% of the sum of the purchase price or cost of the applicable property, equipment or improvements and the related costs and charges imposed by the vendors thereof, and (D) the Lien does not cover any
property other than the fixed or capital asset acquired;” 
 (c) The following new definitions are hereby added to Section 1.1
of the Credit Agreement in the appropriate alphabetical order: 
 “Majority Term Loan B Lenders” shall mean at any time with
respect to the Term Loan B, Term Loan B Lenders holding more than 50.0% of the aggregate principal amount then outstanding under Term Loan B; provided however that so long as there are fewer than three Term Loan B Lenders, considering any Term Loan
B Lender and its Affiliates as a single Term Loan B Lender, “Majority Term Loan B Lenders” shall mean all Term Loan B Lenders. The portion of the Indebtedness attributable to, any Defaulting Lender shall be excluded for purposes of making
a determination of “Majority Term Loan B Lenders”. 
 “Permitted Westport Debt” shall mean the Capitalized Leases
and other Debt identified on the supplement to Schedule 8.1 dated as of the Second Amendment Effective Date. 
 “Second Amendment
Effective Date” shall mean December 19, 2013. 

  
 5 

 “Term Loan B” shall mean the term loan to be made to Borrower by the Term Loan B
Lenders pursuant to Section 4.A.1 hereof, in the original aggregate principal amount of Seventy Million Dollars ($70,000,000). 

“Term Loan B Advance” shall mean a borrowing requested by Borrower and made by the Term Loan B Lenders pursuant to
Section 4.A.1(a) hereof, including without limitation any refunding or conversion of such borrowing pursuant to Section 4.A.4 hereof, and may include, subject to the terms hereof, Eurodollar-based Advances and Base Rate Advances. 

“Term Loan B Amount” shall mean with respect to any Term Loan B Lender, the amount equal to its Term Loan B Percentage of the
aggregate principal amount outstanding under Term Loan B. 
 “Term Loan B Lenders” shall mean the financial institutions
from time to time parties hereto as identified on Schedule 1.2 as lenders of Term Loan B (as the same may be amended from time to time). 

“Term Loan B Maturity Date” shall mean August 28, 2017. 

“Term Loan B Notes” shall mean the term notes described in Section 4.A.2(e) hereof, made by Borrower to each of the Term Loan
B Lenders in the form attached hereto as Exhibit K-1, as such notes may be amended or supplemented from time to time, and any other notes issued in substitution, replacement or renewal thereof from time to time. 

“Term Loan B Percentage” shall mean with respect to any Term Loan B Lender, the percentage specified opposite such Term Loan B
Lender’s name in the column entitled “Term Loan B Percentage” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof. 

“Term Loan B Rate Request” shall mean a request for the refunding or conversion of any Advance of a Term Loan B submitted by
Borrower under Section 4.A.4 of this Agreement in the form attached hereto as Exhibit L-1. 
 “Westport Acquisition”
shall mean the transaction by which Borrower acquires Westport USA Holding, LLC, a Delaware limited liability company (“Westport USA”) and Westport USA’s wholly-owned subsidiary, Westport Axle Corp., a Kentucky corporation
(“Westport Axle”) pursuant to the term and conditions of the Westport Purchase Documents. 

  
 6 

 “Westport Purchase Documents” shall mean the Unit Purchase Agreement, dated
November 27, 2013, between Borrower and Hiberis International Corp., SM International Holdings, and SM Brasil Participacoes, S.A. and such other instruments and documents executed and delivered in connection therewith, in each case, as amended,
restated, supplemented or otherwise modified from time to time. 
 (d) Section 2.10(b) of the Credit Agreement is hereby amended
and restated as follows: 
 “(b) Upon the payment in full of the Term Loan, Term Loan B and Equipment Credit Advances, any
prepayments required to be made on the Term Loan, Term Loan B and Equipment Credit Advances pursuant to Sections 4.8(a), (b), (c) and (d) of this Agreement shall instead be applied to prepay any amounts outstanding under the Revolving
Credit, without resulting in a permanent reduction in the Revolving Credit Agreement Commitment. Subject to Section 10.2 hereof, any payments made pursuant to this Section shall be applied first to outstanding Base Rate Advances under the
Revolving Credit, next to Swing Line Advances carried at the Base Rate, next to Eurodollar-based Advances under the Revolving Credit, and then to Swing Line Advances carried at the Quoted Rate. If any amounts remain thereafter, and at the time of
such prepayment Unused Revolving Credit Availability is $0, a portion of such prepayment equivalent to the undrawn amount of any outstanding Letters of Credit shall be held by Lender as cash collateral for the Reimbursement Obligations, with any
additional prepayment monies being applied to any Fees, costs or expenses due and outstanding under this Agreement, and with the remainder of such prepayment thereafter being returned to Borrower.” 

 

	 	(e)	Section 2.12 of the Credit Agreement is hereby amended and restated as follows: 

“2.12 Use of Proceeds of Advances. Advances of the Revolving Credit shall be used to finance working capital and to finance a
portion of the Westport Acquisition.” 
 (f) Section 2.A.11 of the Credit Agreement is hereby amended and restated as follows:

 “2.A.11 Use of Proceeds of Advances. Advances of the Equipment Credit shall be available solely for the purchase of
Eligible Equipment, for the purposes identified in the Sources and Uses and to finance Permitted Acquisitions and a portion of the Westport Acquisition.” 

  
 7 

	 	(g)	Section 4.8 of the Credit Agreement is hereby amended and restated as follows: 

“4.8 Mandatory Prepayment of the Term Loan, Term Loan B and Equipment Credit Advances. 

(a) Subject to clauses (e) and (f) hereof, the Term Loan and Term Loan B shall be subject to required principal reductions in the
amount of Applicable Recapture Percentage of Excess Cash Flow for each Fiscal Year, such prepayments to be payable in respect of each Fiscal Year beginning with the Fiscal Year ending December 31, 2013, and each Fiscal Year thereafter, and to
be due on June 30 of the following Fiscal Year. 
 (b) Subject to clauses (e) and (f) hereof, immediately upon receipt
by any Credit Party of any Net Cash Proceeds from any Asset Sales which are not Reinvested by the Credit Parties as described in the following sentence, Borrower shall prepay the Term Loan, Term Loan B and the Equipment Credit Advances by an amount
equal to one hundred percent (100%) of such Net Cash Proceeds provided, however that Borrower shall not be obligated to prepay the Term Loan, Term Loan B and the Equipment Credit Advances with such Net Cash Proceeds if the following conditions
are satisfied: (i) promptly following the sale, Borrower provides to Agent a certificate executed by a Responsible Officer of the Borrower (“Reinvestment Certificate”) stating (x) that the sale has occurred, (y) that no
Default or Event of Default has occurred and is continuing either as of the date of the sale or as of the date of the Reinvestment Certificate, and (z) a description of the planned Reinvestment of the proceeds thereof, (ii) the
Reinvestment of such Net Cash Proceeds is commenced within the Initial Reinvestment Period and completed within the Reinvestment Period, and (iii) no Default or Event of Default has occurred and is continuing at the time of the sale and at the
time of the application of such proceeds to Reinvestment. If any such proceeds have not been Reinvested at the end of the Reinvestment Period or if for any reason Agent does not have a first priority Lien on the replacement assets, Borrower shall
promptly pay such proceeds to Agent, to be applied to repay the Term Loan, Term Loan B and the Equipment Credit Advances in accordance with clauses (e) and (f) hereof. 

(c) Subject to clauses (e) and (f) hereof, immediately upon receipt by the Borrower or any Subsidiary of Net Cash Proceeds from
the issuance of any Equity Interests of such Person or Net Cash Proceeds from the issuance of any Subordinated Debt after the Effective Date, Borrower shall prepay the Term Loan, Term Loan B and the Equipment Credit Advances by an amount equal to
one hundred percent (100%) of such Net Cash Proceeds in 

  
 8 

 
connection with the issuance of any Subordinated Debt and (y) fifty percent (50%) of the Net Cash Proceeds of any issuance of Equity Interests. 

(d) Subject to clauses (e) and (f) hereof, immediately upon receipt by the Borrower or any Subsidiary of any Insurance Proceeds or
Condemnation Proceeds, Borrower shall be obligated to prepay the Term Loan, Term Loan B and the Equipment Credit Advances by an amount equal to one hundred percent (100%) of such Insurance Proceeds or Condemnation Proceeds, as the case may be;
provided, however, that any Insurance Proceeds or Condemnation Proceeds, as the case may be, may be Reinvested by any of the Credit Parties if the following conditions are satisfied: (i) promptly following the receipt of such Insurance Proceeds
or Condemnation Proceeds, as the case may be, Borrower provides to Agent a Reinvestment Certificate stating (x) that no Default or Event of Default has occurred and is continuing either as of the date of the receipt of such proceeds or as of
the date of the Reinvestment Certificate, (y) that such Insurance Proceeds or Condemnation Proceeds have been received, and (z) a description of the planned Reinvestment of such Insurance Proceeds or Condemnation Proceeds, as the case may
be), (ii) the Reinvestment of such proceeds is commenced within the Initial Reinvestment Period and completed within the Reinvestment Period, and (iii) no Default or Event of Default shall have occurred and be continuing at the time of the
receipt of such proceeds and at the time of the application of such proceeds to Reinvestment. If any such proceeds have not been Reinvested at the end of the Reinvestment Period, Borrower shall promptly pay such proceeds to Agent, to be applied to
repay the Term Loan, Term Loan B and the Equipment Credit Advances in accordance with clauses (e) and (f) hereof. 
 (e)
Subject to clause (f) hereof, each mandatory prepayment under this Section 4.8 or any other mandatory or optional prepayment under this Agreement shall be in addition to any scheduled installments or optional prepayments made prior thereto
and shall be subject to Section 11.1. Each mandatory prepayment shall be applied (x) first, to the Term Loan until the Term Loan is paid in full, (y) second, to Term Loan B until Term Loan B is paid in full, and (z) third, to the
Equipment Credit Advances. All such prepayments shall be applied to principal installments in the inverse order of their maturities. 

(f) To the extent that, on the date any mandatory prepayment of the Term Loan and Term Loan B under this Section 4.8 is due, the
Indebtedness under the Term Loan, Term Loan B or any other Indebtedness to be prepaid is being carried, in whole or in part, at 

  
 9 

 
the Eurodollar-based Rate and no Default or Event of Default has occurred and is continuing, Borrower may deposit the amount of such mandatory prepayment in a cash collateral account to be held
by the Agent, for and on behalf of the Lenders (which shall be an interest-bearing account), on such terms and conditions as are reasonably acceptable to Agent and upon such deposit, the obligation of the Borrower to make such mandatory prepayment
shall be deemed satisfied. Subject to the terms and conditions of said cash collateral account, sums on deposit in said cash collateral account shall be applied (until exhausted) to reduce the principal balance of the Term Loan and Term Loan B on
the last day of each Eurodollar-Interest Period attributable to the Eurodollar-based Advances of the Term Loan and Term Loan B, thereby avoiding breakage costs under Section 11.1. 

 

	 	(h)	The following provision is added as Section 4.A: 

 “4.A.
TERM LOAN B. 
 4.A.1 Term Loan B. Subject to the terms and conditions hereof, each Term Loan B Lender,
severally and for itself alone, agrees to lend to Borrower, in a single disbursement in Dollars on the Second Amendment Effective Date an amount equal to such Lender’s Percentage of Term Loan B. 

4.A.2 Accrual of Interest and Maturity; Evidence of Indebtedness. 

(a) Borrower hereby unconditionally promises to pay to the Agent for the account of each Term Loan B Lender such
Lender’s Percentage of the then unpaid aggregate principal amount of Term Loan B outstanding on the Term Loan B Maturity Date and on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement.
Subject to the terms and conditions hereof, the unpaid principal Indebtedness outstanding under Term Loan B shall, from the Second Amendment Effective Date (until paid), bear interest at the Applicable Interest Rate. There shall be no readvance or
reborrowings of any principal reductions of Term Loan B. 
 (b) Each Term Loan B Lender shall maintain in accordance
with its usual practice an account or accounts evidencing indebtedness of Borrower to the appropriate lending office of such Term Loan B Lender resulting from each Advance of Term Loan B made by such lending office of such Lender from time to time,
including the amounts of principal and interest payable thereon and paid to such Term Loan B Lender from time to time under this Agreement. 

  
 10 

 (c) The Agent shall maintain the Register pursuant to Section 13.8(g),
and a subaccount therein for each Term Loan B Lender, in which Register and subaccounts (taken together) shall be recorded (i) the amount of each Advance of Term Loan B made hereunder, the type thereof and each Eurodollar-Interest Period
applicable to any Eurodollar-based Advance, (ii) the amount of any principal or interest due and payable or to become due and payable from Borrower to each Term Loan B Lender hereunder in respect of the Advances of Term Loan B and
(iii) both the amount of any sum received by the Agent hereunder from Borrower in respect of the Advances of Term Loan B and each Term Loan B Lender’s share thereof. 

(d) The entries made in the Register pursuant to paragraph (c) of this Section 4.A.2 shall, absent demonstrable
error, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of Borrower therein recorded; provided, however, that the failure of any Term Loan B Lender or the Agent to
maintain the Register or any such account, as applicable, or any error therein, shall not in any manner affect the obligation of Borrower to repay the Advances of Term Loan B (and all other amounts owing with respect thereto) made to Borrower by the
Term Loan B Lenders in accordance with the terms of this Agreement. 
 (e) Borrower agrees that, upon written request
to the Agent by any Term Loan B Lender, Borrower will execute and deliver to such Term Loan B Lender, at Borrower’s expense, a Term Loan B Note evidencing the outstanding Advances under Term Loan B owing to such Term Loan B Lender. 

4.A.3 Repayment of Principal. (a) Borrower shall repay Term Loan B on the Term Loan B Maturity Date, when all
remaining outstanding principal plus accrued interest thereon shall be due and payable in full. 
 (b) Whenever any
payment under this Section 4.A.3 shall become due on a day that is not a Business Day, the date for payment thereunder shall be extended to the next Business Day. 

4.A.4 Term Loan B Rate Requests; Refundings and Conversions of Term Loan B. On the Second Amendment Effective Date,
the Applicable Interest Rate for all Term Loan B Advances shall be the Base Rate. Thereafter, Borrower may refund all or any 

  
 11 

 
portion of any Advance of Term Loan B as a Term Loan B Advance with a like Eurodollar-Interest Period or convert each such Advance of such Term Loan B to an Advance with a different
Eurodollar-Interest Period, but only after delivery to Agent of a Term Loan B Rate Request executed in connection with such Term Loan B by an Authorized Signer and subject to the terms hereof and to the following: 

(a) each Term Loan B Rate Request shall set forth the information required on the Term Loan B Rate Request form with respect
to such Term Loan B, including without limitation: 
  

	 	(i)	whether the Term Loan B Advance is a refunding or conversion of an outstanding Term Loan B Advance; 

  

	 	(ii)	in the case of a refunding or conversion of an outstanding Term Loan B Advance, the proposed date of such refunding or conversion, which must be a Business Day; and 

 

	 	(iii)	whether such Term Loan B Advance (or any portion thereof) is to be a Base Rate Advance or a Eurodollar-based Advance, and, in the case of a Eurodollar-based Advance, the Eurodollar-Interest Period(s) applicable
thereto. 

 (b) each such Term Loan B Rate Request shall be delivered to Agent (i) by 1:00 p.m.
(Detroit time) three (3) Business Days prior to the proposed date of the refunding or conversion of a Eurodollar-based Advance or (ii) by 1:00 p.m. on the proposed date of the refunding or conversion of a Base Rate Advance; 

(c) the principal amount of such Advance of Term Loan B plus the amount of any other Advance of Term Loan B to be then
combined therewith having the same Applicable Interest Rate and Eurodollar-Interest Period, if any, shall be (i) in the case of a Base Rate Advance, at least One Million Dollars ($1,000,000), or the remaining principal balance outstanding under
the applicable Term Loan B, whichever is less, and (ii) in the case of a Eurodollar-based Advance, at least One Million Dollars ($1,000,000) or the remaining principal balance outstanding under Term Loan B, whichever is less, or in each case a
larger integral multiple of One Hundred Thousand Dollars ($100,000); 

  
 12 

 (d) no Term Loan B Advance shall have a Eurodollar-Interest Period ending
after the Term Loan B Maturity Date and, notwithstanding any provision hereof to the contrary, Borrower shall select Eurodollar-Interest Periods (or the Base Rate) for sufficient portions of Term Loan B such that Borrower may make the required
principal payments hereunder on a timely basis and otherwise in accordance with Section 4.A.5 below; 
 (e) at no
time shall there be more than three (3) Eurodollar-Interest Periods in effect for Advances of each Term Loan B; and 

(f) a Term Loan B Rate Request, once delivered to Agent, shall not be revocable by Borrower. 

4.A.5 Base Rate Advance in Absence of Election or Upon Default. In the event Borrower shall fail with respect to any
Eurodollar-based Advance of a Term Loan B to timely exercise their option to refund or convert such Advance in accordance with Section 4.A.4 hereof (and such Advance has not been paid in full on the last day of the Eurodollar-Interest Period
applicable thereto according to the terms hereof), or, if on the last day of the applicable Eurodollar-Interest Period, a Default or Event of Default shall exist, then, on the last day of the applicable Eurodollar-Interest Period, the principal
amount of such Advance which has not been prepaid shall be automatically converted to a Base Rate Advance and the Agent shall thereafter promptly notify Borrower thereof. All accrued and unpaid interest on any Advance converted to a Base Rate
Advance under this Section 4.A.5 shall be due and payable in full on the date such Advance is converted. 
 4.A.6
Interest Payments; Default Interest. 
 (a) Interest on the unpaid principal of all Base Rate Advances of Term
Loan B from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Base Rate, and shall be payable in immediately available funds quarterly in arrears commencing on January 1, 2014, and on the first day of
each January, April, July and October thereafter. Whenever any payment under this Section 4.A.6 shall become due on a day that is not a Business Day, the date for payment shall be extended to the next Business Day. Interest accruing at the Base
Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Base Rate on the date of such
change in the Base Rate. 

  
 13 

 (b) Interest on the unpaid principal of each Eurodollar-based Advance of Term
Loan B having a related Eurodollar-Interest Period of three (3) months or less shall accrue at its applicable Eurodollar-based Rate and shall be payable in immediately available funds on the last day of the Eurodollar-Interest Period applicable
thereto. Interest accruing at the Eurodollar-based Rate shall be computed on the basis of a 360-day year and assessed for the actual number of days elapsed from the first day of the Eurodollar-Interest Period applicable thereto to, but not
including, the last day thereof. 
 (c) Notwithstanding anything to the contrary in Section 4.A.6(a) or
(b) hereof, all accrued and unpaid interest on any Term Loan B Advance refunded or converted pursuant to Section 4.A.4 hereof shall be due and payable in full on the date such Term Loan B Advance is refunded or converted. 

(d) In the case of any Event of Default under Section 9.1(i), immediately upon the occurrence thereof, and in the case
of any other Event of Default, upon notice from the Majority Term Loan B Lenders, interest shall be payable on demand on the principal amount of all Advances of Term Loan B from time to time outstanding, as applicable, at a per annum rate equal to
the Applicable Interest Rate in respect of each such Advance, plus, in the case of Eurodollar-based Advances, two percent (2%) for the remainder of the then existing Eurodollar-Interest Period, if any, and at all other such times and for all
Base Rate Advances, at a per annum rate equal to the Base Rate plus two percent (2%). 
 4.A.7 Optional Prepayment
of Term Loan B. 
 (a) Subject to clause (b) hereof, Borrower (at its option), may prepay all or any portion
of the outstanding principal of any Term Loan B Advance bearing interest at the Base Rate at any time, and may prepay all or any portion of the outstanding principal of any Term Loan B bearing interest at the Eurodollar-based Rate upon one
(1) Business Day’s notice to the Agent by wire, telecopy or by telephone (confirmed by wire or telecopy), with accrued interest on the principal being prepaid to the date of such prepayment. Any prepayment of a portion of a Term Loan B as
to which the Applicable Interest Rate is the Base Rate shall be without premium or penalty, and any prepayment of a portion of a Term Loan B as to which the Applicable Interest Rate is the Eurodollar-based Rate shall be without premium or penalty,
except to the extent set forth in Section 11.1 below. 

  
 14 

 (b) Each partial prepayment of Term Loan B shall be applied as follows: first
to that portion of Term Loan B outstanding as a Base Rate Advance, second to that portion of Term Loan B outstanding as Eurodollar-based Advances which have Eurodollar-Interest Periods ending on the date of payment, and last to any remaining
Advances of Term Loan B being carried at the Eurodollar-based Rate. 
 (c) All prepayments of Term Loan B shall be
made to the Agent for distribution ratably to the Term Loan B Lenders in accordance with their respective Term Loan B Percentages. 

4.A.8 Use of Proceeds. Proceeds of Term Loan B shall be used by Borrower to fund the Westport Acquisition. 

 

	 	(i)	Section 7.13(a) of the Credit Agreement is hereby amended to add the following as new clause (iii): 

“(iii) if when such Person becomes a Significant Subsidiary, it has a fee interest in real property, then within ninety (90) days
thereafter, unless such real property is encumbered by a Permitted Lien the terms of which effectively prohibit granting a Lien to the Agent, the Agent or the Required Lenders are entitled to request a Lien on that real property as additional
collateral, and, in such case, within thirty (30) days after such request, such Significant Subsidiary shall execute and deliver a Mortgage (or an amendment to an existing mortgage, where appropriate) covering such real property, together with
such informational title reports as may be reasonably required by the Agent;” 
  

	 	(j)	Section 7.15 of the Credit Agreement is hereby amended and restated as follows: 

“7.15 Use all Advances of the Revolving Credit as set forth in Section 2.12 hereof and the proceeds of the Term Loan and Term Loan
B as set forth in Section 4.9 and Section 4.A.8 hereof, respectively. Borrower shall not use any portion of the proceeds of any such advances for the purpose of purchasing or carrying any “margin stock” (as defined in Regulation
U of the Board of Governors of the Federal Reserve System) in any manner which violates the provisions of Regulation T, U or X of said Board of Governors or for any other purpose in violation of any applicable statute or regulation.” 

  
 15 

	 	(k)	Section 8.1(c) of the Credit Agreement is hereby amended and restated as follows: 

“(c) (i) any Debt of Borrower or any of its Subsidiaries incurred to finance the acquisition of fixed or capital assets, whether
pursuant to a loan or a Capitalized Lease and Debt incurred or assumed in connection with a Permitted Acquisition, provided that both at the time of and immediately after giving effect to the incurrence thereof (Y) no Default or Event of
Default shall have occurred and be continuing, and (Z) the aggregate amount of all such Debt at any one time outstanding (including, without limitation, any Debt of the type described in this clause (c) which is set forth on Schedule 8.1
hereof) shall not exceed $6,000,000, and any renewals or refinancings of such Debt and (ii) the Permitted Westport Debt and any renewals or refinancings thereof;” 

(l) Section 9.1(a) of the Credit Agreement is hereby amended and restated as follows: 

“(a) non-payment when due of (i) the principal or interest on the Indebtedness under the Revolving Credit (including the Swing
Line), the Equipment Credit, the Term Loan or Term Loan B or (ii) any Reimbursement Obligation or (iii) any Fees;” 
  

	 	(m)	Section 9.2 of the Credit Agreement is hereby amended and restated as follows: 

“9.2 Exercise of Remedies. If an Event of Default has occurred and is continuing hereunder: (a) the Agent may, and shall,
upon being directed to do so by the Majority Revolving Credit Lenders, declare the Revolving Credit Aggregate Commitment terminated; (b) the Agent may, and shall, upon being directed to do so by the Majority Equipment Credit Lenders, declare
the Equipment Credit Aggregate Commitment terminated; (c) the Agent may, and shall, upon being directed to do so by the Majority Lenders, declare the entire unpaid principal Indebtedness, including the Notes, immediately due and payable,
without presentment, notice or demand, all of which are hereby expressly waived by the Borrower; (d) upon the occurrence of any Event of Default specified in Section 9.1(i) and notwithstanding the lack of any declaration by Agent under
preceding clauses (a), (b) or (c), the entire unpaid principal Indebtedness shall become automatically and immediately due and payable, and the Revolving Credit Aggregate Commitment and Equipment Credit Aggregate Commitment shall be
automatically and immediately terminated; (e) the Agent shall, upon being directed to do so by the Majority Revolving Credit Lenders, demand immediate delivery of cash 

  
 16 

 
collateral, and the Borrower agrees to deliver such cash collateral upon demand, in an amount equal to 105% of the maximum amount that may be available to be drawn at any time prior to the stated
expiry of all outstanding Letters of Credit, for deposit into an account controlled by the Agent; (f) the Agent may, and shall, upon being directed to do so by the Majority Lenders, notify Borrower or any Credit Party that interest shall be
payable on demand on all Indebtedness (other than Revolving Credit Advances, Equipment Credit Advances, Swing Line Advances, the Term Loan Advances and Term Loan B Advances with respect to which Sections 2.6, 2.A.8, 4.6 and 4.A.6 hereof shall
govern) owing from time to time to the Agent or any Lender, at a per annum rate equal to the then applicable Base Rate plus two percent (2%); and (g) the Agent may, and shall, upon being directed to do so by the Majority Lenders or the Lenders,
as applicable (subject to the terms hereof), exercise any remedy permitted by this Agreement, the other Loan Documents or law.” 

(n) Section 10.1(a) of the Credit Agreement is hereby amended and restated as follows: 

“(a) All payments to be made by Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or
setoff. Except as otherwise provided herein, all payments made by the Borrower of principal, interest or fees hereunder shall be made without setoff or counterclaim on the date specified for payment under this Agreement and must be received by Agent
not later than 1:00 p.m. (Detroit time) on the date such payment is required or intended to be made in Dollars in immediately available funds to Agent at Agent’s office located at 411 W. Lafayette,
7th Floor, MC 3289, Detroit, Michigan 48226-3289, for the ratable benefit of the Revolving Credit Lenders in the case of payments in respect of the Revolving Credit and any Letter of Credit
Obligations, for the ratable benefit of the Equipment Credit Lenders in the case of the Equipment Credit, for the ratable benefit of the Term Loan Lenders in the case of payments in respect of the Term Loan, for the ratable benefit of the Term Loan
B Lenders in the case of payments in respect of Term Loan B and for the ratable benefit of the Swing Line Lenders in the case of the Swing Line; provided, however, that so long as no Default or Event of Default has occurred and is continuing at the
time any such payment is to be made, all payments of principal or interest owing to KeyBank National Association in its capacity as Swing Line Lender (except to the extent such payments are being made pursuant to Section 2.10(a) or (b)) shall
be paid directly to KeyBank National Association for application to Swing Line Advances (and related interest) made by KeyBank National 

  
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Association to Borrower under the Swing Line. Any payment received by the Agent (or to KeyBank National Association, as the case may be) after 1:00 p.m. (Detroit time) shall be deemed received on
the next succeeding Business Day and any applicable interest or fee shall continue to accrue. Upon receipt of each such payment, the Agent shall make prompt payment to each applicable Lender, or, in respect of Eurodollar-based Advances, such
Lender’s Eurodollar Lending Office, in like funds and currencies, of all amounts received by it for the account of such Lender.” 

(o) Section 10.1(b) of the Credit Agreement is hereby amended and restated as follows: 

“(b) Unless the Agent shall have been notified in writing by Borrower at least two (2) Business Days prior to the date on which
any payment to be made by Borrower is due that Borrower does not intend to remit such payment, the Agent may, in its sole discretion and without obligation to do so, assume that Borrower has remitted such payment when so due and the Agent may, in
reliance upon such assumption, make available to each Revolving Credit Lender, Equipment Credit Lender, Term Loan Lender or Term Loan B Lender, as the case may be, on such payment date an amount equal to such Lender’s share of such assumed
payment. If Borrower has not in fact remitted such payment to the Agent, each Lender shall forthwith on demand repay to the Agent the amount of such assumed payment made available or transferred to such Lender, together with the interest thereon, in
respect of each day from and including the date such amount was made available by the Agent to such Lender to the date such amount is repaid to the Agent at a rate per annum equal to the Federal Funds Effective Rate for the first two
(2) Business Days that such amount remains unpaid, and thereafter at a rate of interest then applicable to such Revolving Credit Advances.” 
  

	 	(p)	Section 10.2 of the Credit Agreement is hereby amended and restated as follows: 

“10.2 Application of Proceeds of Collateral. Notwithstanding anything to the contrary in this Agreement, in the case of any
Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default: (a) upon the termination of the Revolving Credit Aggregate Commitment and/or the Equipment Credit Aggregate
Commitment, (b) the acceleration of any Indebtedness arising under this Agreement, (c) at the Agent’s option, or (d) upon the request of the Majority Lenders, the Agent shall apply the proceeds of any Collateral, together with
any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in 

  
 18 

 
respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral
under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), the
Equipment Credit, the Term Loan and Term Loan B, and obligations owing by any Credit Party under any Hedging Agreements and/or Lender Products, on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any
excess, to the Credit Parties, as the case may be.” 
 (q) Section 10.3 of the Credit Agreement is hereby amended and restated
as follows: 
 “10.3 Pro-rata Recovery. If any Lender shall obtain any payment or other recovery (whether voluntary,
involuntary, by application of setoff or otherwise) on account of principal of, or interest on, any of the Advances made by it, or the participations in Letter of Credit Obligations or Swing Line Advances held by it in excess of its pro rata share
of payments then or thereafter obtained by all Lenders upon principal of and interest on all such Indebtedness, such Lender shall purchase from the other Lenders such participations in the Revolving Credit, Equipment Credit, the Term Loan, Term Loan
B and/or the Letter of Credit Obligation held by them as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably in accordance with the applicable Percentages of the Lenders; provided, however, that
if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing holder, the purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest.” 

(r) Section 13.8(d)(i) of the Credit Agreement is hereby amended and restated as follows: 

“(i) each such assignment shall be made on a pro rata basis, and shall be in a minimum amount of the lesser of (x) Five Million
Dollars ($5,000,000) or such lesser amount as the Agent shall agree and (y) the entire remaining amount of assigning Lender’s aggregate interest in the Revolving Credit (and participations in any outstanding Letters of Credit), the
Equipment Credit, the Term Loan and Term Loan B; provided however that, after giving effect to such assignment, in no event shall the entire remaining amount (if any) of assigning Lender’s aggregate interest in the Revolving Credit (and
participations in any outstanding Letters of Credit), the Equipment Credit, the Term Loan and Term Loan B be less than $5,000,000; and” 

  
 19 

 (s) Section 13.10(b)(ii)(C) of the Credit Agreement is hereby amended and restated as
follows: 
 “(C) change any of the provisions of this Section 13.10 or the definitions of “Majority Lenders”,
“Majority Revolving Credit Lenders”, “Majority Equipment Credit Lenders”, “Majority Term Loan Lenders”, “Majority Term Loan B Lenders”, or any other provision of any Loan Document specifying the number or
percentage of Lenders required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender; provided that changes to the definition of “Majority
Lenders” may be made with the consent of only the Majority Lenders to include the Lenders holding any additional credit facilities that are added to this Agreement with the approval of the appropriate Lenders, and” 

(t) Section 13.12(a) of the Credit Agreement is hereby amended and restated as follows: 

“(a) With respect to any Lender (i) whose obligation to make Eurodollar-based Advances has been suspended pursuant to
Section 11.3 or 11.4, (ii) who has not agreed to a request for extension of the Revolving Credit Maturity Date, Equipment Draw Termination Date or Equipment Credit Maturity Date, as to which all other Lenders have consented,
(iii) that has demanded compensation under Sections 3.4(c), 11.5 or 11.6, (iv) that has become a Defaulting Lender or (v) that has failed to consent to a requested amendment, waiver or modification to any Loan Document as to which the
Majority Lenders have already consented (in each case, an “Affected Lender”), then the Agent or the Borrower may, at Borrower’s sole expense, require the Affected Lender to sell and assign all of its interests, rights and obligations
under this Agreement, including, without limitation, its Commitments, to an assignee (which may be one or more of the Lenders) (such assignee shall be referred to herein as the “Purchasing Lender” or “Purchasing Lenders”) within
two (2) Business Days after receiving notice from the Borrower requiring it to do so, for an aggregate price equal to the sum of the portion of all Advances made by it, interest and fees accrued for its account through but excluding the date of
such payment, and all other amounts payable to it hereunder, from the Purchasing Lender(s) (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts, including without limitation,
if demanded by the Affected 

  
 20 

 
Lender, the amount of any compensation that due to the Affected Lender under Sections 3.4(c), 11.1, 11.5 and 11.6 to but excluding said date), payable (in immediately available funds) in cash.
The Affected Lender, as assignor, such Purchasing Lender, as assignee, the Borrower and the Agent, shall enter into an Assignment Agreement pursuant to Section 13.8 hereof, whereupon such Purchasing Lender shall be a Lender party to this
Agreement, shall be deemed to be an assignee hereunder and shall have all the rights and obligations of a Lender with a Revolving Credit Percentage equal to its ratable share of the then applicable Revolving Credit Aggregate Commitment, the
applicable Percentages of the Term Loan of the Affected Lender, and the applicable Percentages of Term Loan B of the Affected Lender, provided, however, that if the Affected Lender does not execute such Assignment Agreement within (2) Business
Days of receipt thereof, the Agent may execute the Assignment Agreement as the Affected Lender’s attorney-in-fact. Each of the Lenders hereby irrevocably constitutes and appoints the Agent and any officer or agent thereof, with full power of
substitution, as its true and lawful attorney-in-fact with full power and authority in the name of such Lender or in its own name to execute and deliver the Assignment Agreement while such Lender is an Affected Lender hereunder (such power of
attorney to be deemed coupled with an interest and irrevocable). In connection with any assignment pursuant to this Section 13.12, the Borrower or the Purchasing Lender shall pay to the Agent the administrative fee for processing such
assignment referred to in Section 13.8.” 
 (u) Section 13.12(c) of the Credit Agreement is hereby amended and restated
as follows: 
 “(c) If any Lender is a Non-Compliant Lender, the Borrower may, notwithstanding Section 10.3 of this Agreement or
any other provisions requiring pro rata payments to the Lenders, elect to repay all amounts owing to such a Non-Compliant Lender in connection with the Term Loan and Term Loan B, so long as (i) no Default or Event of Default exists at the time
of such repayment and (ii) after giving effect to any reduction in the Revolving Credit Aggregate Commitment, payments on the Revolving Credit under clause (b) above and payments on the Term Loan and Term Loan B under this clause (c), the
Borrower shall have availability, on the date of the repayment, to borrow additional Revolving Credit Advances under the Revolving Credit Aggregate Commitment of at least $5,000,000 (after taking into account the sum on such date of the outstanding
principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Obligations).” 

  
 21 

	 	(v)	Section 13.17 of the Credit Agreement is hereby amended and restated as follows: 

“13.17 Complete Agreement; Conflicts. This Agreement, the Notes (if issued), any Requests for Revolving Credit Advance, Requests
for Swing Line Advance, Requests for Equipment Credit Advance, Term Loan Rate Requests, and Term Loan B Rate Requests, and the Loan Documents contain the entire agreement of the parties hereto, superseding all prior agreements, discussions and
understandings relating to the subject matter hereof, and none of the parties shall be bound by anything not expressed in writing. In the event of any conflict between the terms of this Agreement and the other Loan Documents, this Agreement shall
govern; provided that the terms of the Mortgages dealing with use of insurance and condemnation proceeds shall control in the event of any conflict with the corresponding provisions of this Agreement.” 

(w) Schedules 1.1, 1.2, 5.1(c), and 13.6 to the Credit Agreement are amended in their entirety to be in the form of Schedules 1.1, 1.2,
5.1(c), and 13.6 attached to this Second Amendment. 
 (x) Schedules 1.3, 1.4, 1.5, 5.2, 6.3(b), 6.16, 6.17A, 6.19, 6.22, 8.1, 8.2, 8.7, and
8.8 attached to this Second Amendment are supplements to Schedules 1.3, 1.4, 1.5, 5.2, 6.3(b), 6.16, 6.17A, 6.19, 6.22, 8.1, 8.2, 8.7, and 8.8 of the Credit Agreement. 

(y) Exhibit K-1 and Exhibit L-1 to this Second Amendment are added as new Exhibits K-1 and L-1 to the Credit Agreement. 

2. Conditions. This Second Amendment shall become effective (according to the terms hereof) on the date that the following conditions have been fully
satisfied by the Borrower: 
  

	 	(a)	Agent shall have received executed facsimile or email counterparts of this Second Amendment duly executed and delivered by Agent, the Lenders and the Borrower, with originals following promptly thereafter;

  

	 	(b)	Agent shall have received such other agreements and instruments reasonably requested by Agent (including, those items indicated on the Closing Checklist attached hereto as Exhibit A) each duly executed by Borrower,
applicable Guarantor or such other party, as applicable; 

  

	 	(c)	Borrower shall have paid to Agent, for the account of the Lenders, an amendment fee as set forth in the Supplemental Fee Letter (as defined below). 

 

	 	(d)	Borrower shall have paid to Agent any fees due under the terms of the Supplemental Agency Fee Letter dated November 12, 2013 (the “Supplemental Fee Letter”), along with any other fees, costs or expenses
due and outstanding to the Agent or the Lenders under the Supplemental Fee Letter or hereunder as of the Second Amendment Effective Date (including reasonable fees, disbursements and other charges of counsel to Agent); and 

  
 22 

	 	(e)	Agent shall have received satisfactory evidence of (i) all governmental, third party and/or other approvals, permits, registrations and the like, necessary or appropriate in connection with the Westport Acquisition
(as defined below), this Second Amendment or any transaction contemplated thereby, (ii) the concurrent consummation of the Westport Acquisition, and (iii) confirmation that the respective amounts of the sources and uses for the Westport
Acquisition (as defined below) and the $80,000,000 of additional financing contemplated by the Second Amendment (“2013 Additional Financing”) are substantially consistent with the information previously provided to Agent;

  

	 	(f)	Agent shall have received such other documents and Borrower shall have completed such other matters as Agent may reasonably deem necessary or appropriate. 

 

	3.	Consent to Acquisition. The Agent and Majority Lenders hereby consent to the acquisition by Borrower (or an Affiliate of Borrower) of Westport USA Holding, LLC (that acquisition, the “Westport
Acquisition” and that company, the “Target”) subject to the satisfaction by Borrower (and its Subsidiaries and Affiliates, as applicable) on or before the consummation of the Westport Acquisition (the “Closing Date”) of each
of the following conditions: 

  

	 	(a)	Agent’s receipt of satisfactory evidence confirming the completion, prior to or concurrently with the Closing Date, of the Westport Acquisition on terms consistent with the materials provided to Agent by the
Borrower prior to the date hereof, and otherwise satisfactory to Agent, in its reasonable discretion, together with satisfaction of the following: 

  

	 	(i)	On the Closing Date, the Target and any of its subsidiaries that will constitute Significant Subsidiaries will become parties to the Guaranty and the Collateral Documents, and the Borrower will, and will cause the
Target and such Significant Subsidiaries to, comply with the provisions of Section 7.13 of the Credit Agreement; 

  

	 	(ii)	On the Closing Date, the Borrower must submit pro forma borrowing base reports (that may include the Target’s Eligible Accounts (as defined in the Credit Agreement) and other applicable assets) demonstrating that
there will be at least $8,000,000.00 available for borrowing under the Revolving Credit upon completion of the Westport Acquisition; 

  

	 	(iii)	On the Closing Date, the Borrower must submit pro forma financial statements giving effect to the Westport Acquisition and this Second Amendment and demonstrating continued compliance with the terms of the Credit
Agreement; and 

  

	 	(iv)	Consummation of the Westport Acquisition and the 2013 Additional Financing shall not create or result in a Default or an Event of Default (as defined in the Credit Agreement); and 

  
 23 

	 	(v)	There shall have been no material adverse change in the condition (financial or otherwise), properties, business, results or operations (or projected results or operations) of the Target and its subsidiaries (taken as a
whole) or the Borrower and its subsidiaries (taken as a whole) or any Guarantor from the condition shown in the financial information delivered to Agent prior to the date hereof; nor shall any omission, inconsistency, inaccuracy, or any change in
presentation or accounting standards which renders such financial statements (including any projections) materially misleading have been determined by Agent to exist (and the Borrower shall certify the continued validity of any projections
previously delivered to Agent). 

  

	4.	Consent to Regions Bank Account. Notwithstanding the provisions of Section 7.14 of the Credit Agreement, the Agent and Majority Lenders hereby consent to Westport Axle maintaining its deposit accounts
numbered 180524672, 180524664, and 180524656 at Regions Bank (the “Westport Axle Accounts”); provided that, (i) Borrower shall deliver to Agent an Account Control Agreement, in form and content reasonably satisfactory to Agent,
executed by Regions Bank with respect to the Westport Axle Accounts by the date and time specified in the Post Closing Letter of even date herewith between Borrower and Agent (the “Post Closing Letter”), and (ii) Borrower shall cause
Westport Axle to close the Westport Axle Accounts and open replacement deposit accounts with one or more Lenders and deliver to Agent Account Control Agreements, in form and content reasonably satisfactory to Agent, executed by each such Lender as
the depository bank by the date and time specified in the Post Closing Letter. 

  

	5.	Authority. The Borrower hereby certifies that it has taken all necessary actions to authorize this Second Amendment and the Loan Documents delivered herewith, supported by appropriate resolutions, that no
consents or other authorizations of any third parties are required in connection therewith, and that either there have been no changes in the organizational documents previously delivered to Agent or that true and accurate copies of organizational
documents are being provided to Agent with the certificate. 

  

	6.	Representations and Warranties. The Borrower hereby represents and warrants that, after giving effect to any amendments and consents contained herein, execution and delivery of this Second Amendment and the
performance by the Borrower of its obligations under the Credit Agreement as amended hereby (herein, as so amended, the “Amended Credit Agreement”) are within its limited liability company powers, have been duly authorized, are not in
contravention of law or the terms of its articles of organization or operating agreement, and do not require the consent or approval of any governmental body, agency or authority, and the Amended Credit Agreement will constitute the valid and
binding obligations of the Borrower enforceable in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, reorganization, insolvency, moratorium, fraudulent conveyance, ERISA or similar laws affecting the
enforcement of creditors’ rights generally and by general principles of equity (whether enforcement is sought in a proceeding in equity or at law). The Borrower hereby reaffirms, covenants and agrees to be bound by all the terms and conditions
of the Credit Agreement, as amended, and any of the other Loan Documents. 

  
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	7.	No Other Changes. Except as specifically set forth herein, this Second Amendment shall not be deemed to amend or alter in any respect the terms and conditions of the Credit Agreement or any of the other Loan
Documents. The Borrower hereby acknowledges and agrees that this Second Amendment and the amendments contained herein do not constitute any course of dealing or other basis for altering any obligation of the Borrower, or any other Credit Party or
any other party or any rights, privilege or remedy of Agent or the Lenders under the Credit Agreement, any other Loan Document, any other agreement or document, or any contract or instrument except as specifically set forth herein. Furthermore, this
Second Amendment shall not affect in any manner whatsoever any rights or remedies of the Lenders or Agent with respect to any other non-compliance by the Borrower with the Credit Agreement or the other Loan Documents, whether in the nature of a
Default or Event of Default, and whether now in existence or subsequently arising, and shall not apply to any other transaction. 

  

	8.	Ratification. The Borrower hereby reaffirms, confirms, ratifies and agrees to be bound by each of its covenants, agreements and obligations under the Amended Credit Agreement and each other Loan Document
previously executed and delivered by it, or executed and delivered in accordance with this Second Amendment. Each reference in the Credit Agreement to “this Agreement” or “the Credit Agreement” shall be deemed to refer to Credit
Agreement as amended by this Second Amendment and each other amendment made to the Credit Agreement from time to time. 

  

	9.	Defined Terms. Unless otherwise defined to the contrary herein, all capitalized terms used in this Second Amendment shall have the meanings set forth in the Credit Agreement. 

 

	10.	Confirmation of Lien Upon Collateral. Borrower acknowledges and agrees that the Indebtedness is secured by the Collateral and that its obligations under the Security Agreement dated as of August 28, 2012 by
and among Borrower, such other entities which from time to time become parties thereto, and Agent, for and on behalf of the Lenders (the “Security Agreement”) constitute valid, legal, and binding agreements and obligations of Borrower. The
Collateral is and shall remain subject to and encumbered by the lien, charge, and encumbrance of any applicable Loan Document, and nothing herein contained shall affect or be construed to affect the lien or encumbrance created by any applicable Loan
Document respecting the Collateral, or its priority over other liens or encumbrances. 

  

	11.	Successors and Assigns. This Second Amendment shall inure to the benefit of and be binding upon the parties and their respective successors and assigns. 

 

	12.	Other Modification. In executing this Second Amendment, the Borrower is not relying on any promise or commitment of Agent or the Lenders that is not in writing signed by Agent and the Lenders. 

 

	13.	Expenses. Borrower shall promptly pay all out-of-pocket fees, costs, charges, expenses, and disbursements of Agent and the Lenders incurred in connection with the preparation, execution, and delivery of this
Second Amendment, and the other documents contemplated by this Second Amendment, all in accordance with the terms of the Supplemental Fee Letter. 

  
 25 

	14.	Governing Law. This Second Amendment shall be a contract made under and governed by the internal laws of the State of Michigan, and may be executed in counterpart, in accordance with Section 13.9 of the
Credit Agreement. Each of the parties hereto agrees that this Second Amendment and any other Loan Document signed by it and transmitted by facsimile or email or any other method of delivery shall be admissible in evidence as the original itself in
any judicial or administrative proceeding whether or not the original is in existence. 

 [Remainder of Page Intentionally
Blank] 

  
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 IN WITNESS WHEREOF, the Borrower, the Lenders and Agent have each caused this Second
Amendment to be executed by their respective duly authorized officers or agents, as applicable, all as of the date first set forth above. 
  

									
	UNIVERSAL TRUCKLOAD SERVICES, INC.	 		 	COMERICA BANK, as Agent
					
	By:	 	 /s/ H. E. Wolfe
	 		 	By:	 	 /s/ William J. Scarborough

		 	H. E. Wolfe	 		 		 	William J. Scarborough
	Title:	 	Chief Executive Officer	 		 	Title:	 	Vice President
				
		 		 		 	COMERICA BANK, as a Lender, Issuing Lender and a Swing Line Lender
					
		 		 		 	By:	 	 /s/ William J. Scarborough

		 		 		 		 	William J. Scarborough
		 		 		 	Title:	 	Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement 

 
			
	FIFTH THIRD BANK
		
	By:	 	 /s/ Jessica Pfeifer

	Name:	 	 Jessica Pfeifer

	Title:	 	 Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement 

 
			
	CITIBANK N.A.
		
	By:	 	 /s/ John J. McGuire

	Name:	 	 John J. McGuire

	Title:	 	 Senior Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement 

 
			
	U.S. BANK N.A.
		
	By:	 	 /s/ Brian Bur

	Name:	 	 Brian Bur

	Title:	 	 Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement 

 
			
	KEYBANK NATIONAL ASSOCIATION, as a Lender and a Swing Line Lender
		
	By:	 	 /s/ Jason W. Bierlein

	Name:	 	 Jason W. Bierlein

	Title:	 	 Senior Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement 

 
			
	THE HUNTINGTON NATIONAL BANK
		
	By:	 	 /s/ Joseph K. Zayance

	Name:	 	 Joseph K. Zayance

	Title:	 	 Senior Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement 

 
			
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Lawrence J. Fraley

	Name:	 	 Lawrence J. Fraley

	Title:	 	 Senior Vice President

  
 Signature page to Second
Amendment to Revolving Credit and Term Loan Agreement

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