Document:

Exhibit 10.39

 

WILLIAMS SCOTSMAN, INC.

$20,000,000 

8 1/2% Senior Notes Due 2015

 

PURCHASE AGREEMENT

 

April 12, 2006

 

Deutsche Bank Securities Inc.

60 Wall Street

New York, New York 10005

 

Ladies and Gentlemen:

 

Williams Scotsman, Inc., a Maryland corporation
(the “Issuer”), hereby confirms its agreement with you (the “Initial
Purchaser”) as set forth below.

 

1.             The
Securities. Subject to the terms and conditions herein contained, the
Issuer proposes to issue and sell to the Initial Purchaser $20,000,000 aggregate
principal amount of its 8 1/2% Senior Notes due 2015 (the “Notes”). The
Notes will be guaranteed (the “Guarantees”) on a senior basis by Williams
Scotsman International, Inc., a Delaware corporation and the owner of all of
the outstanding capital stock of the Issuer (“Williams Scotsman
International”), Evergreen Mobile Company, a Washington corporation and a
wholly-owned subsidiary of the Issuer, Space Master International, Inc., a
Georgia corporation and a wholly-owned subsidiary of the Issuer, Truck &
Trailer Sales, Inc., a Missouri corporation and a wholly-owned subsidiary of
the Issuer and Williams Scotsman of Canada, Inc., a Canadian corporation and a
wholly-owned subsidiary of the Issuer (each a “Guarantor” and collectively,
the “Guarantors”), and will be guaranteed (the “Subordinated
Guarantee”) on a subordinated basis by Willscot Equipment, LLC, a Delaware
limited liability company and a wholly-owned subsidiary of the Issuer (the “Subordinated
Guarantor”). The Notes, the Guarantees and the Subordinated Guarantee are
collectively referred to herein as the “Securities”. The Securities are
to be issued under an indenture (as supplemented from time to time, the “Indenture”)
dated as of September 29, 2005 by and among the Issuer, the Guarantors, the
Subordinated Guarantor and The Bank of New York, as Trustee (the “Trustee”)
pursuant to which $350,000,000 of notes of the same series were previously
issued.

 

 

The Securities will be offered and sold to
the Initial Purchaser without being registered under the Securities Act of
1933, as amended (the “Act”), in reliance on exemptions therefrom.

 

In connection with the sale of the
Securities, the Issuer has prepared a preliminary offering memorandum dated April
12, 2006, including information incorporated therein by reference (the “Preliminary
Memorandum”) and has prepared a Pricing Supplement (the “Pricing
Supplement”) dated April 12, 2006, which is attached hereto as Annex I. The
Issuer will also prepare a final offering memorandum dated April 12, 2006,
including information incorporated therein by reference (the “Final
Memorandum”) setting forth or including a description of the terms of the
Securities, the terms of the offering of the Securities, a description of the Issuer
and any material developments relating to the Issuer occurring after the date
of the most recent historical financial statements included therein. As used
herein, “Offering Memorandum” shall mean, with respect to any date or
time referred to in this Agreement, the Preliminary Memorandum, as supplemented
by the Pricing Supplement, in the most recent form that has been prepared and
delivered by the Issuer to the Initial Purchaser in connection with its
solicitation of offers to purchase Securities prior to the time this Agreement
is executed by the parties hereto (the “Time of Execution”).

 

The Initial Purchaser and its direct and
indirect transferees of the Securities will be entitled to the benefits of the
Registration Rights Agreement to be dated as of the Closing Date (as defined)
(the “Registration Rights Agreement”), pursuant to which the Issuer, the
Guarantors and the Subordinated Guarantor will agree, among other things, to
file with the Securities and Exchange Commission (the “Commission”),
under the circumstances set forth therein, (i) a registration statement
under the Act (the “Exchange Offer Registration Statement”), relating to
the 8 1/2% Senior Notes due 2015 of the Issuer (the “Exchange Notes”) to
be offered in exchange (the “Exchange Offer”) for the Notes, and
(ii) as and to the extent required by the Registration Rights Agreement, a
shelf registration statement pursuant to Rule 415 under the Act (the “Shelf
Registration Statement” and, together with the Exchange Offer Registration
Statement, the “Registration Statements”), relating to the resale by
certain holders of the Notes, and to cause such Registration Statements to be
declared effective in accordance with the Registration Rights Agreement. Concurrently
with the execution of this Agreement, the parties hereto will enter into a purchase
agreement with respect to $80,000,000 aggregate principal amount of Notes to be
issued under the Indenture (the “First Purchase Agreement” and
collectively, with this Purchase Agreement, the “Purchase Agreements”). This
Purchase Agreement (this “Agreement”), the First Purchase Agreement, the
Notes, the Guarantees, the Subordinated Guarantee, the Exchange Notes, the
Indenture and the Registration Rights Agreement are hereinafter referred to
collectively as the “Operative Documents.”

 

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2.             Representations
and Warranties. The Issuer, the Guarantors and the Subordinated Guarantor,
jointly and severally, represent and warrant to and agree with the Initial
Purchaser that:

 

(a)           As of the Time of Execution,
the Offering Memorandum does not, and at all times subsequent thereto up to the
Closing Date (as defined in Section 3 below) will not, contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements therein, in the light of the circumstances under which they were
made, not misleading, except that the representations and warranties set forth
in this Section 2(a) do not apply to statements or omissions made in reliance
upon and in conformity with information relating to the Initial Purchaser
furnished to the Issuer in writing by the Initial Purchaser expressly for use
in the Offering Memorandum.

 

(b)           As of the Closing Date,
Williams Scotsman International will have the issued and outstanding capitalization
set forth in the Offering Memorandum; all of the outstanding capital stock or
membership interests of the Issuer and each of the subsidiaries of the Issuer (each,
a “Subsidiary” and, collectively, the “Subsidiaries”), other than
Williams Scotsman Mexico S. de R.L. de C.V. (“Williams Scotsman Mexico I”),
WS Servicios de Mexico, S. de R.L. de C.V. (“Williams Scotsman Mexico II”),
American Homes International, S.A. de C.V. (“American Homes”) and
Williams Scotsman Europe, S.L. (“Williams Scotsman Europe”), have been,
and as of the Closing Date will be, duly authorized and validly issued, are
fully paid and nonassessable and were not issued in violation of any preemptive
or similar rights; and except as set forth in the Offering Memorandum, all of
the outstanding shares of capital stock of or membership interests in the
Issuer and the Subsidiaries (other than Williams Scotsman Mexico I, Williams
Scotsman Mexico II, American Homes and Williams Scotsman Europe) will be free
and clear of all liens, encumbrances, equities and claims or restrictions on
transferability (other than those imposed by the Act and the securities or “Blue
Sky” laws of certain jurisdictions and other than those created under the
Credit Agreement and the Existing Notes and related security agreements) or
voting; except as disclosed in the Offering Memorandum, there are no
(i) options, warrants or other rights to purchase, (ii) agreements or
other obligations of the Issuer or the Subsidiaries to issue or
(iii) other rights to convert any obligation into, or exchange any
securities for, shares of capital stock of or membership interests in the
Issuer or any of the Subsidiaries outstanding. Except as disclosed in the Offering
Memorandum, none of the Issuer or the Subsidiaries owns, directly or indirectly,
any shares of capital stock or any other equity or long-term debt securities or
have any equity interest in any firm, partnership, joint venture or other
entity.

 

(c)           Each of the Issuer and
the Subsidiaries (other than Williams Scotsman Mexico I, Williams Scotsman
Mexico II, American Homes and Williams Scotsman

 

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Europe) is
duly incorporated (or in the case of the Subordinated Guarantor, organized),
validly existing and in good standing as a corporation or limited liability
company under the laws of its respective jurisdiction of incorporation and has
all requisite corporate power and authority to own its properties and conduct
its business as now conducted and as described in the Offering Memorandum; each
of the Issuer, and the Subsidiaries (other than Williams Scotsman Mexico I, Williams
Scotsman Mexico II, American Homes and Williams Scotsman Europe) is duly
qualified to do business as a foreign corporation in good standing in all other
jurisdictions where the ownership or leasing of its properties or the conduct
of its business requires such qualification, except where the failure to be so
qualified would not, individually or in the aggregate, have a material adverse
effect on the general affairs, business, condition (financial or otherwise) or
results of operations of the Issuer and the Subsidiaries taken as a whole (any
such event, a “Material Adverse Effect”).

 

(d)           Each of the Issuer, the
Guarantors and the Subordinated Guarantor has all requisite corporate or
similar power and authority to execute, deliver and perform its respective obligations
under this Agreement and the other Operative Documents to which it is a party
and to consummate the transactions contemplated hereby and thereby, including,
without limitation, the power and authority to issue, sell and deliver the
Securities and the Exchange Notes (as defined in the Registration Rights Agreement)
as contemplated by this Agreement.

 

(e)           This Agreement has been
duly and validly authorized, executed and delivered by the Issuer, each of the
Guarantors and the Subordinated Guarantor.

 

(f)            Each of the Issuer,
the Guarantors and the Subordinated Guarantor has all requisite corporate or
similar power and authority to execute, deliver and perform its obligations
under the Indenture. The Indenture has been duly and validly authorized by the
Issuer, the Guarantors and the Subordinated Guarantor and constitutes the
legally valid and binding agreement of each of the Issuer, the Guarantors and
the Subordinated Guarantor, enforceable against each of them in accordance with
its terms, except as such enforceability may be limited by (i) bankruptcy,
insolvency, reorganization, moratorium and other similar laws now or
hereinafter in effect relating to or affecting creditors’ rights generally and
(ii) general principles of equity and the discretion of the court before
which any proceeding therefor may be brought.

 

(g)           The Notes have been
duly and validly authorized for issuance and sale to the Initial Purchaser by
the Issuer pursuant to this Agreement and, when issued and authenticated in
accordance with the terms of the Indenture and delivered against payment
therefor in accordance with the terms hereof, the Notes will be the legally
valid and binding obligations of the Issuer, enforceable against the Issuer in
accordance with their terms and entitled to the benefits of the Indenture,
except as

 

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such
enforceability may be limited by (i) bankruptcy, insolvency, reorganization,
moratorium and other similar laws now or hereinafter in effect relating to or
affecting creditors’ rights generally and (ii) general principles of
equity and the discretion of the court before which any proceeding therefor may
be brought.

 

(h)           The Exchange Notes have
been duly and validly authorized for issuance by the Issuer and, when issued
and authenticated in accordance with the terms of the Indenture, the
Registration Rights Agreement and the Exchange Offer, will be the legally valid
and binding obligations of the Issuer, enforceable against the Issuer in
accordance with their terms and entitled to the benefits of the Indenture,
except as such enforceability may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium and other similar laws now or hereinafter in effect
relating to or affecting creditors’ rights generally and (ii) general
principles of equity and the discretion of the court before which any
proceeding therefor may be brought.

 

(i)            The Guarantees and the
Subordinated Guarantee have each been duly and validly authorized for issuance
and sale to the Initial Purchaser by the Guarantors and the Subordinated
Guarantor, as the case may be. The guarantees of the Guarantors and the
subordinated guarantee of the Subordinated Guarantor each to be endorsed on the
Exchange Notes (the “Exchange Guarantees”) have been duly and validly
authorized by the Guarantors and the Subordinated Guarantor, as the case may be.
When the Notes are duly and validly authorized, executed, issued and
authenticated in accordance with the terms of the Indenture and delivered
against payment therefor in accordance with the terms hereof, the Guarantees
and the Subordinated Guarantee will be the legally valid and binding
obligations of the Guarantors and the Subordinated Guarantor, as the case may
be, enforceable against the Guarantors and the Subordinated Guarantor, as the
case may be, in accordance with their terms and entitled to the benefits of the
Indenture, except as such enforceability may be limited by (i) bankruptcy,
insolvency, reorganization, moratorium and other similar laws now or
hereinafter in effect relating to or affecting creditors’ rights generally and
(ii) general principles of equity and the discretion of the court before
which any proceeding therefor may be brought. When the Exchange Notes are duly
executed, issued, authenticated and delivered in accordance with the terms of
the Indenture, the Exchange Guarantees will be the legal, valid and binding
obligations of the Guarantors and the Subordinated Guarantor, as the case may
be, enforceable against the Guarantors and the Subordinated Guarantor, as the
case may be, in accordance with their terms and entitled to the benefits of the
Indenture, except as such enforceability may be limited by (i) bankruptcy,
insolvency, reorganization, moratorium and other similar laws now or
hereinafter in effect relating to or affecting creditors’ rights generally and
(ii) general principles of equity and the discretion of the court before
which any proceeding therefor may be brought.

 

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(j)            Each of the Issuer,
the Guarantors and the Subordinated Guarantor has all requisite corporate or
similar power and authority to execute, deliver and perform its obligations
under the Registration Rights Agreement. The Registration Rights Agreement has
been duly and validly authorized by the Issuer, the Guarantors and the
Subordinated Guarantor and, when duly executed and delivered by each of the
Issuer, the Guarantors and the Subordinated Guarantor, will be the legally
valid and binding obligation of the Issuer, the Guarantors and the Subordinated
Guarantor, enforceable against each of them in accordance with its terms,
except as such enforceability may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium and other similar laws now or hereinafter in effect
relating to or affecting creditors’ rights generally, (ii) general
principles of equity and the discretion of the court before which any
proceeding therefor may be brought and (iii) as to rights of indemnification
and contribution, by principles of public policy or federal and state
securities laws relating thereto.

 

(k)           Except as otherwise
described in the Offering Memorandum, assuming the representations and
warranties of the Initial Purchaser contained in Section 8 hereof are true
and correct and that the representations and warranties of the initial
purchasers contained in Section 8 of the First Purchase Agreement are true and
correct, no consent, waiver, approval, authorization or order of or filing,
registration, qualification, license or permit of or with any court or
governmental agency or body, or third party is required by the Issuer or any of
the Subsidiaries for (i) the issuance and sale by the Issuer of the Notes
to the Initial Purchaser, (ii) the issuance by the Guarantors of the
Guarantees, (iii) the issuance by the Subordinated Guarantor of the
Subordinated Guarantee and (iv) the execution by the Issuer of the
Operative Documents and the consummation by the Issuer, the Guarantors and the
Subordinated Guarantor of each of the transactions contemplated hereby and by
the Operative Documents, except, for the registration of the Securities,
the Exchange Notes and Exchange Guarantees under the Registration Statements
and the filing of any Current Reports on Form 8-K with the Commission
disclosing any aspect of the Operative Documents and the transactions
contemplated thereby, and, in each case, such as have been or, prior to the
Closing Date, will be obtained and such as may be required under applicable
state securities or “Blue Sky” laws in connection with the purchase and resale
of the Securities by the Initial Purchaser. Neither the Issuer nor any of the
Subsidiaries is (A) in violation of its charter or bylaws (or similar
organizational document), (B) in breach or violation of any statute,
judgment, decree, order, rule or regulation applicable to any of them or any of
their respective properties or assets, except for any such breach or violation
which would not, individually or in the aggregate, have a Material Adverse
Effect, or (C) in breach of or default under (nor has any event occurred
which, with notice or passage of time or both, would constitute a default
under) or in violation of any of the terms or provisions of any indenture,
mortgage, deed of trust, loan agreement, note, lease, license, permit,
certificate,

 

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contract or
other agreement or instrument to which any of them is a party or to which any
of them or their respective properties or assets is subject (collectively, “Contracts”),
except for any such breach, default, violation or event which would not,
individually or in the aggregate, have a Material Adverse Effect.

 

(l)            Except as otherwise
described in the Offering Memorandum, the execution, delivery and performance
by the Issuer, the Guarantors and the Subordinated Guarantor of this Agreement
and each of the other Operative Documents (to the extent a party thereto) and
the consummation of the transactions contemplated hereby and thereby
(including, without limitation, the issuance and sale of the Securities to the
Initial Purchaser and the issuance of the Exchange Notes in the Exchange Offer)
will not violate, conflict with or constitute or result in a breach of or a
default under (or constitute an event which with notice or passage of time or
both would constitute a default under) or cause an acceleration of any
obligation under, or result in the imposition or creation of any lien or encumbrance
(a “Lien”) on any properties or assets of the Issuer or any Subsidiary
with respect to (A) the terms or provisions of any Contract, except for
any conflict, breach, violation, default or event which would not, individually
or in the aggregate, have a Material Adverse Effect, (B) the charter or
bylaws (or similar organizational document) of the Issuer or any of the
Subsidiaries, or (C) (assuming compliance with all applicable state
securities or “Blue Sky” laws and assuming the accuracy of the representations
and warranties of the Initial Purchaser in Section 8 hereof are true and
correct and that the representations and warranties of the initial purchasers
contained in the First Purchase Agreement are true and correct) any statute,
judgment, decree, order, rule or regulation applicable to the Issuer or any of
the Subsidiaries or any of their respective properties or assets, except for
any such conflict, breach or violation which would not, individually or in the
aggregate, have a Material Adverse Effect.

 

(m)          Ernst & Young
LLP (the “Independent Accountants”), who is reporting on the audited
consolidated financial statements of Williams Scotsman International in the Offering
Memorandum, is an independent registered public accounting firm within the meaning
of the Act and the rules and regulations promulgated thereunder. The audited
consolidated financial statements of Williams Scotsman International and
related notes thereto incorporated in the Offering Memorandum present fairly in
all material respects the financial position of Williams Scotsman International
as of the dates indicated and the results of its respective operations and the
changes in the financial position for the periods specified, in accordance with
generally accepted accounting principles (“GAAP”) consistently applied
throughout such periods, except as otherwise stated therein. The summary and
selected financial and statistical data included in the Offering Memorandum
present fairly in all material respects the information shown therein and have
been prepared and compiled on a basis consistent with the audited financial
statements included therein, except as stated therein.

 

7

 

(n)           There is not pending
or, to the knowledge of the Issuer, the Guarantors or the Subordinated
Guarantor, threatened any action, suit, proceeding, inquiry or investigation to
which the Issuer or any of the Subsidiaries is a party, or to which the
property or assets of the Issuer or any of the Subsidiaries is subject, before
or brought by any court, arbitrator or governmental agency or body which could
reasonably be expected to, individually or in the aggregate, have a Material
Adverse Effect or which seeks to restrain, enjoin, prevent the consummation of
or otherwise challenge the issuance or sale of the Securities to be sold
hereunder or the consummation of the other transactions contemplated in the
Operative Documents.

 

(o)           Each of the Issuer and
the Subsidiaries possesses all material licenses, permits, certificates,
consents, orders, approvals and other authorizations from, and has made all
declarations and filings with, all federal, provincial, state, local and other
governmental authorities, all self-regulatory organizations and all courts and
other tribunals, presently required or necessary to own or lease, as the case
may be, and to operate its respective properties and to carry on its respective
businesses as now or proposed to be conducted as set forth in the Offering
Memorandum (“Permits”), except where the failure to obtain such Permits
would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect; each of the Issuer and the Subsidiaries has fulfilled
and performed all of its obligations with respect to such Permits and no event
has occurred which allows, or after notice or lapse of time would allow,
revocation or termination thereof or results in any other material impairment
of the rights of the holder of any such Permit, except where the failure to
perform such obligations or the occurrence of such event would not have a
Material Adverse Effect; and none of the Issuer or the Subsidiaries has
received any notice of any proceeding relating to revocation or modification of
any such Permit.

 

(p)           Except
as otherwise described in the Offering Memorandum, since the date of the most
recent financial statements appearing in the Offering Memorandum, except as
described in the Offering Memorandum or as provided in or contemplated by the
Operative Documents, (i) none of the Issuer or any of the Subsidiaries has
incurred any liabilities or obligations, direct or contingent, or entered into
or agreed to enter into any transactions or contracts (written or oral) not in
the ordinary course of business, or which liabilities, obligations, transactions
or contracts would, individually or in the aggregate, be material to the
business, condition (financial or otherwise) or results of operations of the
Issuer and the Subsidiaries, taken as a whole, (ii) none of the Issuer or
any of the Subsidiaries has purchased any of its outstanding capital stock, nor
declared, paid or otherwise made any dividend or distribution of any kind on
its capital stock and (iii) there shall not have been any change in the
capital stock or long-term indebtedness (excluding up to $2,500,000 of
additional capital leases) of the Issuer or Subsidiaries except, in each case,
repayments or additional borrowings under the revolving portion of the Issuer’s
existing credit facility.

 

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(q)           Each of the Issuer and
the Subsidiaries has filed all necessary federal, state and foreign income and
franchise tax returns, except where the failure to so file such returns would
not, individually or in the aggregate, have a Material Adverse Effect, and has
paid all taxes shown as due thereon except as to taxes being contested in good
faith, or where the failure to pay any such taxes would not, individually or in
the aggregate, have a Material Adverse Effect; and other than tax deficiencies
which the Issuer or any of the Subsidiaries is contesting in good faith and for
which the Issuer or such Subsidiary has provided adequate reserves in
accordance with GAAP, there is no tax deficiency that has been asserted against
the Issuer or any Subsidiary that would have, individually or in the aggregate,
a Material Adverse Effect.

 

(r)            The statistical and
market-related data included in the Offering Memorandum are based on or derived
from sources which the Issuer, the Guarantors and the Subordinated Guarantor
believe to be reliable and accurate in all material respects.

 

(s)           None of the Issuer, the
Guarantors or the Subordinated Guarantor or any agent acting on its behalf has
taken or will take any action that might cause this Agreement or the sale of
the Securities to violate Regulation T, U or X of the Board of Governors
of the Federal Reserve System, in each case as in effect, or as the same may
hereafter be in effect, on the Closing Date.

 

(t)            Each of the Issuer and
the Subsidiaries has good and marketable title to all real property and good
title to all personal property described in the Offering Memorandum as being
owned by it and good and marketable title to a leasehold estate in the real and
personal property described in the Offering Memorandum as being leased by it
free and clear of all Liens, except as described in the Offering Memorandum
or to the extent the failure to have such title or the existence of such Liens
would not, individually or in the aggregate, have a Material Adverse Effect or
except such Liens, created pursuant to the Issuer’s existing credit facility or
its outstanding 10% Senior Secured Notes due 2008. All leases, contracts and
agreements to which any of the Issuer or the Subsidiaries is a party or by
which any of them is bound are valid and enforceable against each of the
Issuer, or such Subsidiary, as the case may be, and to the knowledge of each of
the Issuer, the Guarantors and the Subordinated Guarantor, as the case may be,
are valid and enforceable against the other party or parties thereto and are in
full force and effect with only such exceptions as would not, individually or
in the aggregate, have a Material Adverse Effect, except, in each case, as such
enforceability may be limited by (i) bankruptcy, insolvency, reorganization,
moratorium and other similar laws now or hereinafter in effect relating to or
affecting creditors’ rights generally and (ii) general principles of
equity and the discretion of the court before which any proceeding therefor may
be brought. The Issuer and the Subsidiaries own or possess adequate licenses or
other rights to use all

 

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patents,
trademarks, service marks, trade names, copyrights and know-how necessary to
conduct the businesses now or proposed to be operated by them as described in
the Offering Memorandum, except where the failure to own, possess or have the
right to use would not have a Material Adverse Effect, and none of the Issuer
or any of the Subsidiaries has received any notice of infringement of or
conflict with (or knows of any such infringement of or conflict with) asserted
rights of others with respect to any patents, trademarks, service marks, trade
names, copyrights or know-how which, if such assertion of infringement or
conflict were sustained, would have a Material Adverse Effect.

 

(u)           There are no legal or
governmental proceedings involving or affecting any of the Issuer or any
Subsidiary or any of their respective properties or assets which would be
required to be described in a prospectus pursuant to the Act that are not so
described in the Offering Memorandum.

 

(v)           Except as described in
the Offering Memorandum or as would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect, (A) each of the
Issuer and the Subsidiaries is in compliance with and not subject to any known
liability under applicable Environmental Laws (as defined below), (B) each
of the Issuer and the Subsidiaries has made all filings and provided all
notices required under any applicable Environmental Law, and has, and is in
compliance with, all Permits required under any applicable Environmental Laws
and each of them is in full force and effect, (C) there is no civil,
criminal or administrative action, suit, demand, claim, hearing, notice of
violation or, to the knowledge of the Issuer, the Guarantors and the
Subordinated Guarantor, investigation, proceeding, notice or demand letter or
request for information pending or threatened against any of the Issuer or any
of the Subsidiaries under any Environmental Law, (D) no lien, charge,
encumbrance or restriction has been recorded under any Environmental Law with
respect to any assets, facility or property owned, operated, leased or
controlled by any of the Issuer or any Subsidiary, (E) none of the Issuer
or any Subsidiaries has received notice that it has been identified as a
potentially responsible party under the Comprehensive Environmental Response, Compensation
and Liability Act of 1980, as amended (“CERCLA”), or any comparable
state law and (F) no property or facility of any of the Issuer or any
Subsidiary is (i) listed or, to the knowledge of the Issuer, the
Guarantors or the Subordinated Guarantor proposed for listing on the National
Priorities List under CERCLA or (ii) listed in the Comprehensive Environmental
Response, Compensation, Liability Information System List promulgated pursuant
to CERCLA, or on any comparable list maintained by any state or local
governmental authority.

 

For purposes
of this Agreement, “Environmental Laws” means the common law and all
applicable federal, provincial, state and local laws or regulations, codes,

 

10

 

orders,
decrees, judgments or injunctions issued, promulgated, approved or entered
thereunder, relating to pollution or protection of public or employee health
and safety or the environment, including, without limitation, laws relating to
(i) emissions, discharges, releases or threatened releases of hazardous
materials into the environment (including, without limitation, ambient air,
surface water, ground water, land surface or subsurface strata), (ii) the
manufacture, processing, distribution, use, generation, treatment, storage,
disposal, transport or handling of hazardous materials, and (iii) underground
and above ground storage tanks and related piping, and emissions, discharges,
releases or threatened releases therefrom.

 

(w)          There is no strike,
labor dispute, slowdown or work stoppage with the employees of any of the
Issuer or the Subsidiaries which is pending or, to the knowledge of the Issuer,
the Guarantors and the Subordinated Guarantor, as the case may be, threatened
which, in either case, could reasonably be expected to have a Material Adverse
Effect.

 

(x)            None of the Issuer or
any of the Subsidiaries has incurred any liability for any prohibited
transaction or funding deficiency or any complete or partial withdrawal
liability with respect to any pension, profit sharing or other plan which is
subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
to which any of the Issuer or the Subsidiaries makes or ever has made a contribution
and in which any employee of any of the Issuer or any such Subsidiary is or has
ever been a participant, which in the aggregate could have a Material Adverse
Effect. With respect to such plans, each of the Issuer and the Subsidiaries is
in compliance in all respects with all applicable provisions of ERISA, except
where the failure to so comply would not, individually or in the aggregate,
have a Material Adverse Effect.

 

(y)           Each of the Issuer and
the Subsidiaries (i) makes and keeps accurate books and records and
(ii) maintains internal accounting controls which provide reasonable
assurance that (A) transactions are executed in accordance with management’s
general or specific authorizations, (B) transactions are recorded as
necessary to permit preparation of its financial statements and to maintain
accountability for its assets, (C) access to its assets is permitted only
in accordance with management’s general or specific authorizations and
(D) the reported accountability for its assets is compared with existing
assets at reasonable intervals.

 

(z)            None of the Issuer,
the Guarantors or the Subordinated Guarantor is, or immediately after the sale
of the Notes to be sold hereunder and the application of the proceeds from such
sale (as described in the Offering Memorandum under the caption “Use of
Proceeds”), will be required to be, registered as an “investment company” as
such term is defined in the Investment Company Act of 1940, as amended, and the
rules and regulations thereunder.

 

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(aa)         The Notes, the Guarantees,
the Subordinated Guarantee, the Exchange Notes, the Indenture and the Registration
Rights Agreement conform in all material respects to the descriptions thereof
contained in the Offering Memorandum.

 

(bb)         No holder of securities
of the Issuer, the Guarantors or the Subordinated Guarantor will be entitled to
have such securities registered under the registration statements required to
be filed by the Issuer, the Guarantors and the Subordinated Guarantor pursuant
to the Registration Rights Agreement, other than as expressly permitted
thereby.

 

(cc)         None of the Issuer or the
Subsidiaries or any of their respective Affiliates (as defined in Rule 501(b)
of Regulation D under the Act) has directly, or through any agent,
(i) sold, offered for sale, solicited offers to buy or otherwise
negotiated in respect of, any “security” (as defined in the Act) which is or
could be integrated with the sale of the Securities in a manner that would
require the registration under the Act of the Securities or (ii) engaged
in any form of general solicitation or general advertising (as those terms are
used in Regulation D under the Act) in connection with the offering of the
Securities or in any manner involving a public offering within the meaning of
Section 4(2) of the Act.

 

(dd)         When the Securities are
delivered pursuant to this Agreement, none of the Securities will be of the
same class (within the meaning of Rule 144A under the Act) as securities of the
Issuer, the Guarantors or the Subordinated Guarantor that are listed on a
national securities exchange registered under Section 6 of the Exchange Act or
that are quoted in a United States automated inter-dealer quotation system.

 

(ee)         None of the Issuer, the
Subsidiaries, any of their respective Affiliates (as defined in
Rule 501(b) of Regulation D under the Act) or any person acting on
any of their behalf (other than the Initial Purchaser) has engaged in any
directed selling efforts (as that term is defined in Regulation S under
the Act (“Regulation S”)) with respect to the Securities; the
Issuer and its Affiliates and any person acting on any of its behalf (other
than the Initial Purchaser) have complied with the offering restrictions
requirement of Regulation S.

 

(ff)           Assuming that the
representations and warranties of the Initial Purchaser contained in
Section 8 hereof are true and correct and that the representations and
warranties of the initial purchaser contained in Section 8 of the First
Purchase Agreement are true and correct, it is not necessary in connection with
the offer, sale and delivery of the Securities to the Initial Purchaser or the
reoffer and resale by the Initial Purchaser in the manner contemplated by this
Agreement to register the Securities under the Act.

 

12

 

Any certificate signed by any officer of the
Issuer, the Guarantors or the Subordinated Guarantor and delivered to the Initial
Purchaser or to counsel for the Initial Purchaser shall be deemed a
representation and warranty by the Issuer, the Guarantors and the Subordinated
Guarantor, as the case may be, to the Initial Purchaser as to the matters covered
thereby.

 

3.             Purchase,
Sale and Delivery of the Securities. On the basis of the representations,
warranties, agreements and covenants herein contained and subject to the terms
and conditions herein set forth, the Issuer, the Guarantors and the Subordinated
Guarantor agree to issue and sell to the Initial Purchaser, and the Initial
Purchaser, agrees to purchase the Notes (including the related Guarantees and
Subordinated Guarantee) at 99.75% of their principal amount plus accrued
interest from April 1, 2006. One or more certificates in definitive form for
the Notes that the Initial Purchaser has agreed to purchase hereunder, and in
such denomination or denominations and registered in such name or names as the
Initial Purchaser requests upon notice to the Issuer at least 36 hours prior to
the Closing Date, shall be delivered by or on behalf of the Issuer to the
Initial Purchaser, against payment by or on behalf of the Initial Purchaser of
the purchase price therefor by wire transfer (same day funds) to such account
or accounts as the Issuer shall specify prior to the Closing Date, or by such
means as the parties hereto shall agree prior to the Closing Date. Such
delivery of and payment for the Securities shall be made at the offices of Paul,
Weiss, Rifkind, Wharton, & Garrison LLP, 1285 Avenue of the Americas, New
York, New York at 10:00 A.M., New York time, on April 18, 2006, or at such
other place, time or date as the Initial Purchaser, on the one hand, and the
Issuer, on the other hand, may agree upon, such time and date of delivery
against payment being herein referred to as the “Closing Date.”  The Issuer will make such certificate or
certificates for the Securities available for checking and packaging by the
Initial Purchaser at the offices of Deutsche Bank Securities Inc. in New York,
New York, or at such other place as Deutsche Bank Securities Inc. may
designate, at least 24 hours prior to the Closing Date.

 

4.             Offering
by the Initial Purchaser. The Initial Purchaser proposes to make an
offering of the Securities at the price and upon the terms set forth in the Offering
Memorandum, as soon as practicable after this Agreement is entered into and as
in the judgment of the Initial Purchaser is advisable.

 

5.             Covenants
of the Issuer, the Guarantors and the Subordinated Guarantor. The Issuer,
the Guarantors and the Subordinated Guarantor covenant and agree with the Initial
Purchaser that:

 

(a)           Until the later of (i)
the completion of distribution of the Securities by the Initial Purchaser and
(ii) the Closing Date, the Issuer, the Guarantors or the Subordinated Guarantor
will not amend or supplement the Offering Memorandum unless the Initial Purchaser
shall previously have been advised and furnished a copy for a reasonable period
of time prior to the proposed amendment or supplement and as to which the
Initial Purchaser shall have given its consent, which consent shall not

 

13

 

unreasonably
be withheld or delayed. The Issuer, the Guarantors and the Subordinated
Guarantor will promptly, upon the reasonable request of the Initial Purchaser
or counsel for the Initial Purchaser, make any amendments or supplements to the
Offering Memorandum that may be necessary or advisable in connection with the
resale of the Securities by the Initial Purchaser.

 

(b)           The Issuer, the
Guarantors and the Subordinated Guarantor will cooperate with the Initial Purchaser
in arranging for the qualification of the Securities for offering and sale
under the securities or “Blue Sky” laws of such jurisdictions as the Initial Purchaser
may reasonably designate and will continue such qualifications in effect for as
long as may be necessary to complete the resale of the Securities; provided,
however, that in connection therewith, the Issuer, the Guarantors and
the Subordinated Guarantor shall not be required to qualify as a foreign
corporation or to execute a general consent to service of process in any
jurisdiction or subject itself to taxation in any such jurisdiction where it is
not then so subject.

 

(c)           If, at any time prior
to the completion of the distribution by the Initial Purchaser of the
Securities or the Exchange Notes, any event occurs or information becomes known
as a result of which the Offering Memorandum as then amended or supplemented
would include any untrue statement of a material fact, or omit to state a
material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, or if for any other
reason it is necessary at any time to amend or supplement the Offering Memorandum
to comply with applicable law, the Issuer will promptly notify the Initial Purchaser
thereof and will prepare, at the expense of the Issuer, an amendment or
supplement to the Offering Memorandum that corrects such statement or omission
or effects such compliance.

 

(d)           The Issuer will,
without charge, provide to the Initial Purchaser and to counsel for the Initial
Purchaser as many copies of the Offering Memorandum, Final Memorandum or any
amendment or supplement thereto as the Initial Purchaser may reasonably
request.

 

(e)           The Issuer, the
Guarantors and the Subordinated Guarantor will apply the net proceeds from the
sale of the Securities as set forth under “Use of Proceeds” in the Offering Memorandum.

 

(f)            Prior to the Closing
Date, the Issuer, the Guarantors and the Subordinated Guarantor will furnish to
the Initial Purchaser, as soon as they have been prepared in the ordinary
course of business, a copy of any unaudited interim financial statements of Williams
Scotsman International for any period subsequent to the period covered by the
most recent financial statements appearing in the Offering Memorandum.

 

14

 

(g)           None of the Issuer, the
Guarantors, the Subordinated Guarantor or any of their Affiliates will sell,
offer for sale or solicit offers to buy or otherwise negotiate in respect of
any “security” (as defined in the Act) which could be integrated with the sale
of the Securities in a manner which would require the registration under the
Act of the Securities.

 

(h)           None of the Issuer, the
Guarantors or the Subordinated Guarantor will, nor will the Issuer permit any
of the Subsidiaries to, engage in any form of general solicitation or general
advertising (as those terms are used in Regulation D under the Act) in
connection with the offering of the Securities or in any manner involving a
public offering within the meaning of Section 4(2) of the Act.

 

(i)            For so long as any of
the Securities remain outstanding, Williams Scotsman International will make
available at its expense, upon request, to any holder of such Securities and
any prospective purchasers thereof, the information specified in
Rule 144A(d)(4) under the Act, unless Williams Scotsman International is
then subject to Section 13 or 15(d) of the Exchange Act.

 

(j)            The Issuer, the
Guarantors and the Subordinated Guarantor will use their commercially
reasonable efforts to (i) permit the Securities to be designated for
trading in the Private Offerings, Resales and Trading through Automated
Linkages market (the “PORTAL Market”) of the NASD and (ii) permit the
Securities to be eligible for clearance and settlement through The Depository
Trust Company.

 

6.             Expenses.
The Issuer agrees to pay all costs and expenses incident to the performance of
its obligations under this Agreement, whether or not the transactions contemplated
herein are consummated or this Agreement is terminated pursuant to Section 11
hereof, including all costs and expenses incident to (i) the printing of
documents with respect to the transactions contemplated hereby, including the Offering
Memorandum, Final Memorandum and any amendment or supplement thereto, and any “Blue
Sky” memoranda, (ii) all arrangements relating to the delivery to the
Initial Purchaser of copies of the foregoing documents, (iii) the fees and
disbursements of the counsel, the accountants and any other experts or advisors
retained by the Issuer, (iv) preparation (including printing), issuance
and delivery to the Initial Purchaser of the Securities, (v) the
qualification of the Securities under state securities and “Blue Sky” laws,
including filing fees and reasonable fees and disbursements of counsel for the
Initial Purchaser relating thereto, (vi) expenses of the Issuer in
connection with any meetings with the Issuer and prospective investors in the
Securities, (vii) fees and expenses of the Trustee, including reasonable fees
and expenses of its counsel, (viii) all expenses and listing fees incurred
in connection with the application for quotation of the Securities on the PORTAL
Market and (ix) any fees charged by investment rating agencies for the
rating of the Securities. If the sale of the Securities provided for herein is
not consummated because any condition to the obligations of the Initial Purchaser
set forth in Section 7 hereof is not satisfied, because this Agreement is
terminated or because of any failure, refusal or

 

15

 

inability on the part of the Issuer, the Guarantors or the Subordinated
Guarantor to perform all obligations and satisfy all conditions on their part
to be performed or satisfied hereunder (other than solely by reason of a
default by the Initial Purchaser of its obligations hereunder after all
conditions hereunder have been satisfied in accordance herewith), the Issuer
agrees to promptly reimburse the Initial Purchaser upon demand for all
reasonable out-of-pocket expenses (including reasonable fees, disbursements and
charges of Cahill Gordon & Reindel LLP, counsel for the Initial Purchaser)
that shall have been incurred by the Initial Purchaser in connection with the
proposed purchase and sale of the Securities.

 

7.             Conditions
of the Initial Purchaser’s and the Issuer’s Obligations. (A)  The
obligation of the Initial Purchaser to purchase and pay for the Securities
shall, in its sole discretion, be subject to the satisfaction or waiver of the
following conditions on or prior to the Closing Date

 

(a)           On the Closing Date,
the Initial Purchaser shall have received the opinions, dated as of the Closing
Date and addressed to the Initial Purchaser, of (i) Paul, Weiss, Rifkind,
Wharton & Garrison LLP, (ii) Whiteford, Taylor & Preston
L.L.P., (iii) Hillis, Clark, Martin & Peterson P.S., (iv) Blackwell,
Sanders, Peper, Martin LLP, (v) Stites & Harbison PLLC, (vi) Davies Ward Phillips & Vineberg LLP
and (vii) John Ross, the General Counsel of the Issuer, in each case in
form and substance reasonably satisfactory to counsel for the Initial Purchaser.

 

The opinion of
Paul, Weiss, Rifkind, Wharton & Garrison LLP described in this Section
may be limited to matters of New York, Federal and Delaware corporate law and
shall be rendered to the Initial Purchaser at the request of the Issuer, the
Guarantors and the Subordinated Guarantor and shall so state therein. The
opinion of Whiteford, Taylor & Preston L.L.P. described in this Section may
be limited to matters of Maryland corporate law and shall be rendered to the
Initial Purchaser at the request of the Issuer, the Guarantors and the
Subordinated Guarantor and shall so state therein. The opinion of Hillis,
Clark, Martin & Peterson P.S. described in this Section may be limited to
matters of Washington corporate law and shall be rendered to the Initial Purchaser
at the request of the Issuer, the Guarantors and the Subordinated Guarantor and
shall so state therein. The opinion of Blackwell, Sanders, Peper, Martin LLP
described in this Section may be limited to matters of Missouri corporate law
and shall be rendered to the Initial Purchaser at the request of the Issuer,
the Guarantors and the Subordinated Guarantor and shall so state therein. The
opinion of Stites & Harbison PLLC described in this Section may be limited
to matters of Georgia corporate law and shall be rendered to the Initial Purchaser
at the request of the Issuer, the Guarantors and the Subordinated Guarantor and
shall so state therein. The opinion of Davies
Ward Phillips & Vineberg LLP described in this Section may be
limited to matters of Ontario corporate law and federal Canadian corporate law
and shall be rendered

 

16

 

to the Initial
Purchaser at the request of the Issuer, the Guarantors and the Subordinated Guarantor
and shall so state therein.

 

References to
the Offering Memorandum in any legal opinions delivered under this
subsection (a) shall include any amendment or supplement thereto prepared
in accordance with the provisions of this Agreement at the Closing Date. In rendering
such opinions, Paul, Weiss, Rifkind, Wharton & Garrison LLP,
Whiteford, Taylor & Preston L.L.P., Hillis, Clark, Martin & Peterson
P.S., Blackwell, Sanders Peper, Martin LLP, Stites & Harbison PLLC, Davies Ward Phillips & Vineberg LLP
and the General Counsel may rely as to matters of fact to the extent such
counsel deems proper, on certificates of responsible officers of the Issuer,
the Guarantors and the Subordinated Guarantor and public officials which are
furnished to the Initial Purchaser.

 

(b)           On the Closing Date, the
Initial Purchaser shall have received the opinion, in form and substance
reasonably satisfactory to the Initial Purchaser, dated as of the Closing Date
and addressed to the Initial Purchaser, of Cahill Gordon & Reindel LLP,
counsel for the Initial Purchaser, with respect to certain legal matters
relating to this Agreement and such other related matters as the Initial Purchaser
may reasonably require. In rendering such opinion, Cahill Gordon & Reindel LLP
shall have received and may rely upon such certificates and other documents and
information as it may reasonably request to pass upon such matters.

 

(c)           On the date hereof, the
Initial Purchaser shall have received from the Independent Accountants a
comfort letter dated the date hereof, in form and substance reasonably satisfactory
to counsel for the Initial Purchaser with respect to the audited and any
unaudited or pro  forma financial information in the Preliminary
Memorandum. On the Closing Date, the Initial Purchaser shall have received from
the Independent Accountants a comfort letter dated the Closing Date, in form
and substance reasonably satisfactory to counsel for the Initial Purchaser,
which shall extend to the financial information, if any, contained in the Final
Memorandum and not contained in the Preliminary Memorandum.

 

(d)           The representations and
warranties of the Issuer, the Guarantors and the Subordinated Guarantor
contained in this Agreement shall be true and correct in all material respects
on and as of the Time of Execution and on and as of the Closing Date as if made
on and as of the Closing Date; the statements of the Issuer’s, the Guarantors’
and the Subordinated Guarantor’s officers made pursuant to any certificate
delivered in accordance with the provisions hereof shall be true and correct in
all material respects on and as of the date made and on and as of the Closing
Date; the Issuer, the Guarantors and the Subordinated Guarantor shall have
performed in all material respects all covenants and agreements and satisfied
in all material respects all conditions on its part to be performed or
satisfied hereunder at or prior to the Closing Date; and, except as described
in the Offering Memorandum (exclusive of any

 

17

 

amendment or
supplement thereto after the date hereof), subsequent to the date of the most
recent financial statements in such Offering Memorandum, there shall have been
no event or development, and no information shall have become known, that,
individually or in the aggregate, has or would be reasonably likely to have a
Material Adverse Effect.

 

(e)           The sale of the
Securities hereunder shall not be enjoined (temporarily or permanently) on the
Closing Date.

 

(f)            Unless otherwise
described in the Offering Memorandum, subsequent to the date of the most recent
financial statements in the Offering Memorandum (exclusive of any amendment or
supplement thereto after the date hereof), none of the Issuer or any Subsidiary
shall have sustained any loss or interference with respect to its business or
properties from fire, flood, hurricane, accident or other calamity, whether or
not covered by insurance, or from any strike, labor dispute, slow down or work
stoppage or from any legal or governmental proceeding, order or decree, which
loss or interference, individually or in the aggregate, has or would be
reasonably likely to have a Material Adverse Effect.

 

(g)           The Initial Purchaser
shall have received a certificate of the Issuer, dated the Closing Date, signed
on behalf of the Issuer by its Chairman of the Board, President or Chief
Executive Officer and any Vice President or the Chief Financial Officer on
behalf of the Issuer, to the effect that:

 

(i)            The representations
and warranties of the Issuer, the Guarantors and the Subordinated Guarantor contained
in this Agreement are true and correct in all material respects on and as of
the Time of Execution and on and as of the Closing Date, and the Issuer, the
Guarantors and the Subordinated Guarantor have performed in all material
respects all covenants and agreements and satisfied all conditions in all
material respects on their part to be performed or satisfied hereunder at or
prior to the Closing Date;

 

(ii)           At the Closing Date,
since the date hereof or since the date of the most recent financial statements
in the Offering Memorandum (exclusive of any amendment or supplement thereto
after the date hereof), no event or development has occurred, and no
information has become known, that, individually or in the aggregate, has or
would be reasonably likely to have a Material Adverse Effect; and

 

(iii)          The sale of the
Securities hereunder has not been enjoined (temporarily or permanently).

 

18

 

(h)           On the Closing Date,
the Initial Purchaser shall have received the Registration Rights Agreement
executed by the Issuer, the Guarantors and the Subordinated Guarantor and such
Agreement shall be in full force and effect at all times from and after the
Closing Date.

 

(i)            The closing of the
sale by the Issuer of Notes in aggregate principal amount of $80,000,000
pursuant to the First Purchase Agreement dated as of the date hereof among the
Issuer, the Guarantors, the Subordinated Guarantor, the Initial Purchaser and
the other initial purchasers named therein shall have occurred.

 

All such documents, opinions, certificates,
letters, schedules or instruments delivered pursuant to this Agreement will
comply with the provisions hereof only if they are reasonably satisfactory in
all material respects to the Initial Purchaser and counsel for the Initial Purchaser.
The Issuer shall furnish to the Initial Purchaser such conformed copies of such
documents, opinions, certificates, letters, schedules and instruments in such
quantities as the Initial Purchaser shall reasonably request.

 

(B)  The obligation of the Issuer to issue and
sell the Securities shall, in its sole discretion, be subject to the
satisfaction or waiver of the following condition on or prior to the Closing
Date: each of the transactions contemplated to be performed or closed by the
Issuer, the Guarantors or the Subordinated Guarantor pursuant to this Agreement
and each of the other Operative Documents on or prior to the Closing Date shall
have been performed or closed in accordance with the terms thereof without giving
effect to any amendment, modification or supplement thereto or the waiver of
any party rights or remedies with respect thereto (other than any amendment,
modification, supplement or waiver to which the Issuer has agreed or consented).

 

8.             Offering
of Securities; Restrictions on Transfer.

 

(a)           The Initial Purchaser
represents and warrants (as to itself only) that it is a “qualified
institutional buyer” within the meaning of Rule 144A (a “QIB”). The
Initial Purchaser agrees with the Issuer that (i) it and each of its
affiliates has not and will not solicit offers for, or offer or sell, the
Securities by any form of general solicitation or general advertising (as those
terms are used in Regulation D under the Act) or in any manner involving a
public offering within the meaning of Section 4(2) of the Act; and (ii) it
and each of its affiliates has and will solicit offers for the Securities only
from, and will offer the Securities only to (A) in the case of offers
inside the United States, persons whom the Initial Purchaser reasonably
believes to be QIBs or, if any such person is buying for one or more
institutional accounts for which such person is acting as fiduciary or agent,
only when such person has represented to the Initial Purchaser that each such
account is a QIB, to whom notice has been given that such sale or delivery is
being made in reliance on Rule 144A, and, in each case, in transactions
under Rule 144A and (B) in the case of offers outside the United
States, to persons other than U.S. persons (“foreign purchasers,” which
term shall include dealers or other professional fiduciaries in the United
States acting on a discretionary basis

 

19

 

for foreign beneficial owners (other than an estate or trust)); provided,
however, that, in the case of this clause (B), in purchasing such Securities
such persons are deemed to have represented and agreed as provided under the
caption “Transfer Restrictions” contained in the Offering Memorandum.

 

(b)           The Initial Purchaser
represents and warrants with respect to offers and sales of securities by them
outside the United States that (i) it and each of its affiliates has
complied and will comply with all applicable laws and regulations in each
jurisdiction in which it acquires, offers, sells or delivers Securities or has
in its possession or distributes any Offering Memorandum or any such other
material, in all cases at its own expense; (ii) the Securities have not
been and will not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons except in accordance with Regulation S
under the Act or pursuant to an exemption from the registration requirements of
the Act; (iii) it and each of its affiliates has offered the Securities
and will offer and sell the Securities (A) as part of its distribution at
any time and (B) otherwise until 40 days after the later of the
commencement of the offering and the Closing Date, only in accordance with Rule
903 of Regulation S and, accordingly, neither the Initial Purchaser nor any
persons acting on its behalf have engaged or will engage in any directed
selling efforts (within the meaning of Regulation S) with respect to the
Securities, and any such persons have complied and will comply with the
offering restrictions requirement of Regulation S; and (iv) it agrees that, at
or prior to confirmation of sales of the Securities, it will have sent to each
distributor, dealer or person receiving a selling concession, fee or other
remuneration that purchases Securities from it during the restricted period a
confirmation or notice to substantially the following effect:

 

“The Securities covered hereby have not been
registered under the United States Securities Act of 1933 (the “Securities
Act”) and may not be offered and sold within the United States or to, or
for the account or benefit of, U.S. persons (i) as part of the
distribution of the Securities at any time or (ii) otherwise until 40 days
after the later of the commencement of the offering and the closing date of the
offering, except in either case in accordance with Regulation S (or Rule
144A if available) under the Securities Act. Terms used above have the meaning
given to them in Regulation S.”

 

Terms used in
this Section 8(b) and not defined in this Agreement have the meanings
given to them in Regulation S.

 

(c)           The Initial Purchaser
represents and warrants (as to itself only) that the source of funds being used
by it to acquire the Securities does not include the assets of any “employee
benefit plan” (within the meaning of Section 3 of ERISA) or any “plan”
(within the meaning of Section 4975 of the Code).

 

9.             Indemnification
and Contribution. (a)  The Issuer, the Guarantors and the
Subordinated Guarantor agree, jointly and severally, to indemnify and hold harmless
the

 

20

 

Initial Purchaser, its affiliates and each person, if any, who controls
the Initial Purchaser within the meaning of Section 15 of the Act or Section 20
of the Exchange Act, against any losses, claims, damages or liabilities to
which the Initial Purchaser or such controlling person may become subject under
the Act, the Exchange Act or otherwise, insofar as any such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are
based upon:

 

(i)            any
untrue statement or alleged untrue statement of any material fact contained in any
Memorandum or any amendment or supplement thereto or any application or other
document, or any amendment or supplement thereto, executed by the Issuer or
based upon written information furnished by or on behalf of the Issuer, the
Guarantors or the Subordinated Guarantor filed in any jurisdiction in order to
qualify the Securities under the securities or “Blue Sky” laws thereof or filed
with any securities association or securities exchange (each an “Application”);
or

 

(ii)           the
omission or alleged omission to state, in any Memorandum or any amendment or
supplement thereto or any Application, a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading,

 

and will
reimburse, as incurred, the Initial Purchaser, each such affiliate and each
such controlling person for any reasonable legal or other reasonable expenses
incurred by the Initial Purchaser, such affiliate or such controlling person in
connection with investigating, defending against or appearing as a third-party
witness in connection with any such loss, claim, damage, liability or action; provided,
however, that the Issuer, the Guarantors and the Subordinated Guarantor
will not be liable in any such case to the extent that any such loss, claim,
damage, or liability arises out of or is based upon any untrue statement or
alleged untrue statement or omission or alleged omission made in the Offering Memorandum
or any amendment or supplement thereto or any Application in reliance upon and
in conformity with written information concerning the Initial Purchaser
furnished to the Issuer by the Initial Purchaser specifically for use therein;
and provided, further,
that the Issuer, the Guarantors and the Subordinated Guarantor will not be
liable to the Initial Purchaser or any person controlling the Initial Purchaser
with respect to any such untrue statement or alleged untrue statement or omission
or alleged omission made in any Preliminary Memorandum that is corrected in the
Offering Memorandum if the person asserting any such loss, claim, damage or
liability purchased Securities from the Initial Purchaser but was not sent or
given a copy of the Offering Memorandum in any case where such delivery of the
Offering Memorandum was required by the Act, unless such failure to deliver the
Offering Memorandum was a result of noncompliance by the Company with Section 5
hereof. This indemnity agreement will be in addition to any liability that the
Issuer, the Guarantors and the Subordinated Guarantor may otherwise have to the
indemnified parties. The Issuer, the Guarantors and the Subordinated Guarantor
shall not be liable under this Section 9 for any settlement of any claim
or action effected without their prior written consent, which shall not be
unreasonably withheld or delayed.

 

21

 

(b)           The Initial Purchaser
agrees, severally and not jointly, to indemnify and hold harmless the Issuer,
the Guarantors and the Subordinated Guarantor, their respective directors,
officers and each person, if any, who controls the Issuer, the Guarantors and
the Subordinated Guarantor within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act against any losses, claims, damages or
liabilities to which the Issuer, the Guarantors or the Subordinated Guarantor
or any such director, officer or controlling person may become subject under
the Act, the Exchange Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise out of or are based upon
(i) any untrue statement or alleged untrue statement of any material fact
contained in any Offering Memorandum or any amendment or supplement thereto or
any Application, or (ii) the omission or the alleged omission to state
therein a material fact required to be stated in any Offering Memorandum or any
amendment or supplement thereto or any Application, or necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, in each case to the extent, but only to the extent, that
such untrue statement or alleged untrue statement or omission or alleged
omission was made in reliance upon and in conformity with written information
concerning the Initial Purchaser, furnished to the Issuer by the Initial
Purchaser specifically for use therein; and subject to the limitation set forth
immediately preceding this clause, will reimburse, as incurred, any reasonable
legal or other expenses incurred by the Issuer, the Guarantors or the
Subordinated Guarantor or any such director, officer or controlling person in
connection with investigating or defending against or appearing as a third
party witness in connection with any such loss, claim, damage, liability or
action in respect thereof. This indemnity agreement will be in addition to any
liability that the Initial Purchaser may otherwise have to the indemnified
parties. The Initial Purchaser shall not be liable under this Section 9
for any settlement of any claim or action effected without its consent, which
shall not be unreasonably withheld or delayed.

 

The Issuer shall not, without the prior
written consent of the Initial Purchaser (which shall not be reasonably withheld
or delayed), effect any settlement or compromise of any pending or threatened
proceeding in respect of which the Initial Purchaser is or could have been a
party, or indemnity could have been sought hereunder by the Initial Purchaser,
unless such settlement (A) includes an unconditional written release of
the Initial Purchaser, in form and substance reasonably satisfactory to the
Initial Purchaser, from all liability on claims that are the subject matter of
such proceeding and for where indemnity could be sought hereunder and
(B) does not include any statement as to an admission of fault,
culpability or failure to act by or on behalf of the Initial Purchaser.

 

(c)           Promptly after receipt
by an indemnified party under this Section 9 of notice of the commencement
of any action for which such indemnified party is entitled to indemnification
under this Section 9, such indemnified party will, if a claim in respect
thereof is to be made against the indemnifying party under this Section 9,
notify the indemnifying party of the commencement thereof in writing; but the
omission to so notify the indemnifying party (i) will not relieve the
indemnifying party from any liability under paragraph (a) or (b)

 

22

 

above unless and to the extent such failure results in the forfeiture
by the indemnifying party of substantial rights and defenses and (ii) will
not, in any event, relieve the indemnifying party from any obligations to any
indemnified party other than the indemnification obligation provided in
paragraphs (a) and (b) above. In case any such action is brought against
any indemnified party, and it notifies the indemnifying party of the
commencement thereof, the indemnifying party will be entitled to participate
therein and, to the extent that it may wish, jointly with any other
indemnifying party similarly notified, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party; provided, however,
that if (i) the use of counsel chosen by the indemnifying party to
represent the indemnified party would present such counsel with a conflict of
interest, (ii) the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have been
advised by counsel that there may be one or more legal defenses available to it
and/or other indemnified parties that are different from or additional to those
available to the indemnifying party, or (iii) the indemnifying party shall
not have employed counsel reasonably satisfactory to the indemnified party to
represent the indemnified party within a reasonable time after receipt by the
indemnifying party of notice of the institution of such action, then, in each
such case, the indemnifying party shall not have the right to direct the
defense of such action on behalf of such indemnified party or parties and such
indemnified party or parties shall have the right to select separate counsel to
defend such action on behalf of such indemnified party or parties. After notice
from the indemnifying party to such indemnified party of its election so to
assume the defense thereof and approval by such indemnified party of counsel appointed
to defend such action, the indemnifying party will not be liable to such
indemnified party under this Section 9 for any legal or other expenses,
other than reasonable costs of investigation, subsequently incurred by such
indemnified party in connection with the defense thereof, unless (i) the
indemnified party shall have employed separate counsel in accordance with the
proviso to the immediately preceding sentence (it being understood, however,
that in connection with such action the indemnifying party shall not be liable
for the reasonable expenses of more than one separate counsel (in addition to
local counsel) in any one action or separate but substantially similar actions
in the same jurisdiction arising out of the same general allegations or
circumstances, designated by the Initial Purchaser in the case of paragraph (a)
of this Section 9 or the Issuer in the case of paragraph (b) of this
Section 9, representing the indemnified parties under such paragraph (a)
or paragraph (b), as the case may be, who are parties to such action or
actions) or (ii) the indemnifying party has authorized in writing the employment
of counsel for the indemnified party at the expense of the indemnifying party. After
such notice from the indemnifying party to such indemnified party, the
indemnifying party will not be liable for the costs and expenses of any
settlement of such action effected by such indemnified party without the prior
written consent of the indemnifying party (which consent shall not be
unreasonably withheld), unless such indemnified party waived in writing its
rights under this Section 9, in which case the indemnified party may
effect such a settlement without such consent.

 

23

 

(d)           In circumstances in
which the indemnity agreement provided for in the preceding paragraphs of this
Section 9 is unavailable to, or insufficient to hold harmless, an
indemnified party in respect of any losses, claims, damages or liabilities (or
actions in respect thereof), each indemnifying party, in order to provide for
just and equitable contribution, shall contribute to the amount paid or payable
by such indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such proportion as is
appropriate to reflect (i) the relative benefits received by the
indemnifying party or parties on the one hand and the indemnified party on the
other from the offering of the Securities or (ii) if the allocation
provided by the foregoing clause (i) is not permitted by applicable law,
not only such relative benefits but also the relative fault of the indemnifying
party or parties on the one hand and the indemnified party on the other in
connection with the statements or omissions or alleged statements or omissions
that resulted in such losses, claims, damages or liabilities (or actions in
respect thereof). The relative benefits received by the Issuer, the Guarantors
and the Subordinated Guarantor on the one hand and the Initial Purchaser on the
other shall be deemed to be in the same proportion as the total proceeds from
the offering (before deducting expenses) received by the Issuer bear to the
total discounts and commissions received by the Initial Purchaser. The relative
fault of the parties shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Issuer, the Guarantors and the Subordinated Guarantor on the
one hand, or the Initial Purchaser on the other, the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission or alleged statement or omission, and any other equitable
considerations appropriate in the circumstances. The Issuer, the Guarantors,
the Subordinated Guarantor and the Initial Purchaser agrees that it would not
be equitable if the amount of such contribution were determined by pro rata or
per capita allocation or by any other method of allocation that does not take
into account the equitable considerations referred to in the first sentence of
this paragraph (d). Notwithstanding any other provision of this paragraph
(d), the Initial Purchaser shall not be obligated to make contributions hereunder
that in the aggregate exceed the total discounts, commissions and other
compensation received by the Initial Purchaser under this Agreement, less the
aggregate amount of any damages that the Initial Purchaser has otherwise been
required to pay by reason of the untrue or alleged untrue statements or the
omissions or alleged omissions to state a material fact, and no person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. For purposes of this paragraph (d) each
affiliate of the Initial Purchaser and each person, if any, who controls the
Initial Purchaser within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act shall have the same rights to contribution
as the Initial Purchaser, and each director of the Issuer, the Guarantors or
the Subordinated Guarantor, each officer of the Issuer, the Guarantors or the
Subordinated Guarantor and each person, if any, who controls the Issuer, the
Guarantors or the Subordinated Guarantor within the meaning of Section 15
of

 

24

 

the Act or Section 20 of the Exchange Act, shall have the same
rights to contribution as the Issuer, the Guarantors and the Subordinated
Guarantor.

 

10.           Survival
Clause. The representations, warranties, agreements, covenants, indemnities
and other statements of the Issuer, the Guarantors and the Subordinated
Guarantor, their officers and the Initial Purchaser set forth in this Agreement
or made by or on behalf of them pursuant to this Agreement shall remain in full
force and effect, regardless of (i) any investigation made by or on behalf
of the Issuer, the Guarantors and the Subordinated Guarantor, any of their
officers or directors, the Initial Purchaser or any controlling person referred
to in Section 9 hereof and (ii) delivery of and payment for the
Securities. The respective agreements, covenants, indemnities and other
statements set forth in Sections 6, 7, 9 and 15 hereof shall remain in
full force and effect, regardless of any termination or cancellation of this
Agreement.

 

11.           Termination.

 

(a)           This Agreement may be
terminated in the sole discretion of the Initial Purchaser by notice to the
Issuer given prior to the Closing Date in the event that the Issuer, the
Guarantors or the Subordinated Guarantor shall have failed, refused or been
unable to perform all obligations and satisfy all conditions on its part to be
performed or satisfied hereunder at or prior thereto or, if at or prior to the
Closing Date:

 

(i)            either
the Issuer, the Guarantors or the Subordinated Guarantor shall have sustained
any loss or interference with respect to its businesses or properties from
fire, flood, hurricane, accident or other calamity, whether or not covered by
insurance, or from any strike, labor dispute, slow down or work stoppage or any
legal or governmental proceeding, which loss or interference, in the reasonable
judgment of the Initial Purchaser, has had or has a Material Adverse Effect, or
there shall have been, in the sole judgment of the Initial Purchaser, any event
or development that, individually or in the aggregate, has or could be
reasonably likely to have a Material Adverse Effect (including without
limitation a change in control of any of the Issuer or any Subsidiary), except
in each case as described in the Offering Memorandum (exclusive of any
amendment or supplement thereto);

 

(ii)           trading
in securities generally on the New York Stock Exchange, American Stock Exchange
or the NASDAQ National Market shall have been suspended or minimum or maximum
prices shall have been established on any such exchange or market;

 

(iii)          a
banking moratorium shall have been declared by New York or United States
authorities or a material disruption in commercial banking or securities settlement
or clearance services in the United States;

 

25

 

(iv)          there
shall have been (A) an outbreak or escalation of hostilities between the
United States and any foreign power, or (B) an outbreak or escalation of
any other insurrection or armed conflict involving the United States or any
other national or international calamity or emergency, or (C) any material
change in the financial markets of the United States which, in the case of (A),
(B) or (C) above and in the sole judgment of the Initial Purchaser, makes it
impracticable or inadvisable to proceed with the offering or the delivery of
the Securities as contemplated by the Offering Memorandum; or

 

(v)           any
securities of the Issuer shall have been downgraded or placed on any “watch
list” for possible downgrading by any nationally recognized statistical rating
organization.

 

(b)           Termination of this
Agreement pursuant to this Section 11 shall be without liability of any
party to any other party except as provided in Section 10 hereof.

 

12.           Information
Supplied by the Initial Purchaser. The statements set forth in the last
paragraph on the front cover page (as such paragraph is supplemented by the
Pricing Supplement), the third sentence of the third paragraph, the third sentence
of the fifth paragraph and the sixth paragraph under the heading “Private
Placement” in the Offering Memorandum (to the extent such statements relate to
the Initial Purchaser) constitute the only information furnished by the Initial
Purchaser to the Issuer for the purposes of Sections 2(a) and 9 hereof.

 

13.           Notices.
All communications hereunder shall be in writing and, if sent to the Initial Purchaser,
shall be mailed or delivered to Deutsche Bank Securities Inc., 60 Wall Street,
New York, New York 10005, Attention: 
Corporate Finance Department, with a copy to Cahill Gordon & Reindel
LLP, 80 Pine Street, New York, New York 10005, Attention:  William M. Hartnett; if sent to the
Issuer, the Guarantors or the Subordinated Guarantor, shall be mailed or
delivered to the Issuer at 8211 Town Center Drive, Baltimore, Maryland
21236, Attention:  John B. Ross, with a
copy to Paul, Weiss, Rifkind, Wharton & Garrison LLP, 1285 Avenue
of the Americas, New York, New York 10019-6064, Attention:  John C. Kennedy.

 

All such notices and communications shall be
deemed to have been duly given:  when
delivered by hand, if personally delivered; five business days after being
deposited in the mail, postage prepaid, if mailed; and one business day after
being timely delivered to a next-day air courier.

 

14.           Successors.
This Agreement shall inure to the benefit of and be binding upon the Initial Purchaser,
the Issuer, the Guarantors and the Subordinated Guarantor, if any, and their
respective successors and legal representatives, and nothing expressed or
mentioned in this Agreement is intended or shall be construed to give any other
person any legal

 

26

 

or equitable right, remedy or claim under or in respect of this
Agreement, or any provisions herein contained; this Agreement and all conditions
and provisions hereof being intended to be and being for the sole and exclusive
benefit of such persons and for the benefit of no other person except that
(i) the indemnities of the Issuer, the Guarantors and the Subordinated
Guarantor, if any, contained in Section 9 of this Agreement shall also be
for the benefit of any person or persons who control the Initial Purchaser
within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act and (ii) the indemnities of the Initial Purchaser contained in Section 9
of this Agreement shall also be for the benefit of the directors of the Issuer,
the Guarantors and the Subordinated Guarantor, if any, their respective
officers and any person or persons who control the Issuer within the meaning of
Section 15 of the Act or Section 20 of the Exchange Act. No purchaser of
Securities from the Initial Purchaser will be deemed a successor because of
such purchase.

 

15.           APPLICABLE
LAW. THE VALIDITY AND INTERPRETATION OF THIS AGREEMENT, AND THE TERMS AND
CONDITIONS SET FORTH HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE
PERFORMED WHOLLY THEREIN, WITHOUT GIVING EFFECT TO ANY PROVISIONS THEREOF
RELATING TO CONFLICTS OF LAW.

 

16.           No
Advisory or Fiduciary Responsibility. Each of the Issuer, the Guarantors
and the Subordinated Guarantor acknowledges and agrees that (i) the purchase
and sale of the Securities pursuant to this Agreement is an arm’s-length
commercial transaction between the Issuer, the Guarantors and the Subordinated
Guarantor, on the one hand, and the Initial Purchaser, on the other, (ii) in
connection therewith and with the process leading to such transaction the
Initial Purchaser is acting solely as a principal and not the agent or fiduciary
of the Issuer, the Guarantors or the Subordinated Guarantor, (iii) the Initial
Purchaser has not assumed an advisory or fiduciary responsibility in favor of
the Issuer, the Guarantors or the Subordinated Guarantor with respect to the
offering contemplated hereby or the process leading thereto (irrespective of
whether the Initial Purchaser has advised or is currently advising the Issuer,
the Guarantors or the Subordinated Guarantor on other matters) or any other
obligation to the Issuer, the Guarantors or the Subordinated Guarantor except
the obligations expressly set forth in this Agreement and (iv) the Issuer, the
Guarantors and the Subordinated Guarantor have consulted their own legal and
financial advisors to the extent it deemed appropriate. Each of the Issuer, the
Guarantors and the Subordinated Guarantor agrees that it will not claim that the
Initial Purchaser has rendered advisory services of any nature or respect, or
owes a fiduciary or similar duty to the Issuer, the Guarantors or the
Subordinated Guarantors in connection with the purchase and sale of Securities
or the process leading thereto.

 

27

 

17.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the
same instrument.

 

28

 

If the foregoing correctly sets forth our
understanding, please indicate your acceptance thereof in the space provided below
for that purpose, whereupon this letter shall constitute a binding agreement
among the Issuer, the Guarantors and the Subordinated Guarantor and the Initial
Purchaser.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  WILLIAMS SCOTSMAN, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:   John B. Ross

  
	
   

  	
   

  	
  Title:     Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WILLIAMS SCOTSMAN OF CANADA, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:   John B. Ross

  
	
   

  	
   

  	
  Title:     Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WILLIAMS
  SCOTSMAN INTERNATIONAL,

  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:   John B. Ross

  
	
   

  	
   

  	
  Title:     Secretary

  

 

 

	
   

  	
  EVERGREEN MOBILE COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:   John B. Ross

  
	
   

  	
   

  	
  Title:     Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SPACE MASTER INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:   John B. Ross

  
	
   

  	
   

  	
  Title:     Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TRUCK & TRAILER SALES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:   John B. Ross

  
	
   

  	
   

  	
  Title:     Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WILLSCOT EQUIPMENT, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B.
  Ross

  
	
   

  	
   

  	
  Name:    John B. Ross

  
	
   

  	
   

  	
  Title:      Secretary

  

 

 

The foregoing Agreement is hereby confirmed and accepted as of the date
first above written.

 

	
  DEUTSCHE BANK SECURITIES INC.

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Michael
  Hill

  	
   

  
	
   

  	
  Name:
  Michael Hill

  
	
   

  	
  Title:
  Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ John C.
  Cushman

  	
   

  
	
   

  	
  Name: John
  C. Cushman

  
	
   

  	
  Title:
  Managing DirectorExhibit 10.40

 

FIRST AMENDMENT

 

FIRST AMENDMENT (this “Amendment”), dated as of April 12,
2006, among WILLIAMS SCOTSMAN INTERNATIONAL, INC. (formerly known as
Scotsman Holdings, Inc.), a Delaware corporation (“Holdings”),
WILLIAMS SCOTSMAN, INC., a Maryland corporation (the “Borrower”),
the Lenders from time to time party to the Credit Agreement referred to below,
and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, together
with its successors in such capacity, the “Administrative Agent”), and
as Issuing Lender. All capitalized terms used herein and not otherwise defined
herein shall have the respective meanings provided such terms in the Credit
Agreement referred to below.

 

W  I  T  N  E  S
S  E  T  H:

 

WHEREAS, Holdings, the Borrower, the Lenders and the Administrative
Agent are parties to an Amended and Restated Credit Agreement, dated as of June 28,
2005 (the “Credit Agreement”);

 

WHEREAS, the parties hereto wish to amend the Credit Agreement on the
terms and subject to the conditions contained herein;

 

NOW, THEREFORE, it is agreed:

 

I.                                         Amendments
to Credit Agreement. Effective on the First Amendment Effective Date (as
defined in Part III, Section 5 of this Amendment, but subject to the
last sentence of such Section 5), the Credit Agreement is hereby amended
as follows:

 

1.                                       The
definition of “Adjusted Net Book Value Percentage” appearing in Section 1.1
of the Credit Agreement is hereby amended by (i) deleting the percentage “70%”
where used in such definition and substituting therefor the percentage “80%”
and (ii) deleting the percentage “65%” where used in such definition and
substituting therefor the percentage “75%” .

 

2.                                       The
definition of “Applicable Margin” appearing in Section 1.1 of the Credit
Agreement is hereby amended by:

 

(i) adding at the end of the first sentence of such definition
immediately before the period the text “and provided, further,
that the Applicable Margin shall be based on Level 2 pricing (with no reduction
based upon the below Consolidated Leverage Ratio test) during the period from
the First Amendment Effective Date until the adjustment date of the Applicable
Margin based upon Average Excess Availability for the fiscal quarter of the
Borrower ending June 30, 2006”,

 

(ii) deleting the ratio “5.25:1.00” where used in such definition
and substituting therefor the ratio “4.50:1.00”,

 

 

(iii) deleting the ratio “4.50:1.00” where used in such definition
and substituting therefor the ratio “3.25:1.00”,

 

(iv) inserting the text “and provided that notwithstanding the
foregoing in no event shall the Applicable Margin for Base Rate Loans be
reduced to below zero” immediately after the text “(without giving effect to
any reduction based upon clause (i) above” in clause (ii) of the
first sentence of the second paragraph of such definition,

 

(v) adding the following sentences to the end of the second
paragraph of such definition:

 

The foregoing
reductions to the Applicable Margins based upon the Consolidated Leverage Ratio
shall be made without giving effect to any reduction based upon the next
sentence. In the event that (i) the Consolidated Leverage Ratio for the
period of twelve consecutive fiscal months of the Borrower ending May 31,
2006 (taken as one accounting period) is less than 4.50:1.00 (such Consolidated
Leverage Ratio to be determined based on the delivery of a certificate signed
by a Responsible Officer of the Borrower to the Administrative Agent (with a
copy to be sent by the Administrative Agent to each Lender), within 30 days of
the last day of the fiscal month of the Borrower ending May 31, 2006,
which certificate shall set forth the calculation of the Consolidated Leverage
Ratio as at the last day of such twelve consecutive fiscal month period), then
each of the Applicable Margins set forth in the table above will be reduced by
0.25% (without giving effect to any reduction based upon the second preceding
sentence) and (ii) the Consolidated Leverage Ratio for such period of
twelve consecutive fiscal months of the Borrower (taken as one accounting
period) is less than 3.25:1.00, determined as set forth in clause (i) above
of this sentence, then each of the Applicable Margins set forth in the table
above will be reduced by 0.50% (without giving effect to any reduction based
upon clause (i) above of this sentence or any reductions based upon the
second preceding sentence and provided that notwithstanding the foregoing in no
event shall the Applicable Margin for Base Rate Loans be reduced to below
zero), in each case the reduction shall be for the period commencing on the
date five (5) Business Days after the date of delivery of the certificate
of a Responsible Officer of the Borrower referred to in this sentence and
ending on the date five (5) Business Days after the date on which the next
certificate of a Responsible Officer of the Borrower is delivered to the
Administrative Agent pursuant to the second preceding sentence, provided that
if no certificate has been delivered to the Administrative Agent pursuant to
the second preceding sentence within 45 days after the last day of the fiscal
quarter of the Borrower ending June 30, 2006, the Applicable Margins set
forth in the table above (without giving effect to any reduction based upon
this paragraph) shall be applicable.

 

(vi) adding at the end of such definition as a new sentence the
text “For purposes of determining the Applicable Margin only, (i) Average
Excess Availability shall be calculated for each fiscal quarter of the Borrower
commencing on or after April 1, 2006 without giving effect to clauses (x)
and (z) of the definition of Excess Availability and (ii) in the event
that the 

 

2

 

Borrower shall
issue any Indebtedness permitted under Section 8.3(o) during the fiscal
quarter of the Borrower ending on June 30, 2006 or Holdings shall issue
any equity during such fiscal period and, in either instance, the proceeds of
such issuance are used to prepay Revolving Loans, Average Excess Availability
shall be calculated on a pro forma basis as if such issuance and prepayment had
occurred on the first day of the calendar month in which such issuance occurs.”
and

 

(vii) deleting the table contained therein and substituting
therefor the following table:

 

	
  Level

  	
   

  	
  Average Excess Availability

  	
   

  	
  Eurodollar Rate Loans

  	
   

  	
  Base Rate Loans

  	
   

  
	
  Level 1

  	
   

  	
  Greater than $250,000,000

  	
   

  	
  1.75

  	
  %

  	
  0.25

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Level 2

  	
   

  	
  Equal to or less than $250,000,000 but
  greater than $100,000,000

  	
   

  	
  2.00

  	
  %

  	
  0.50

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Level 3

  	
   

  	
  Equal to or less than $100,000,000

  	
   

  	
  2.25

  	
  %

  	
  0.75

  	
  %

  

 

3.                                       The
definition of “Applicable Unused Line Fee Percentage” appearing in Section 1.1
of the Credit Agreement is hereby amended by deleting the table contained
therein and substituting therefor the following table:

 

	
  Level

  	
   

  	
  Average Revolver Usage

  	
   

  	
  Unused Line Fee

  	
   

  
	
  Level 1

  	
   

  	
  Less than 50%

  	
   

  	
  0.30

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Level 2

  	
   

  	
  Equal to or greater than 50%

  	
   

  	
  0.25

  	
  %

  

 

4.                                       The
definition of “Change of Control” appearing in Section 1.1 of the Credit
Agreement is hereby amended by (i) deleting the percentage “25%” in clause
(c) of such definition and substituting therefor the percentage “20%”, (ii) deleting
the percentage “35%” in clause (d) of such definition and substituting
therefor the percentage “25%” and (iii) inserting the text “or Section 8.3(o)”
immediately after the text “Section 8.3(n)” in clause (f) of such
definition.

 

5.                                       Each
of the definitions of “Consolidated EBITDA” and “Consolidated Interest Expense”
appearing in Section 1.1 of the Credit Agreement is hereby amended by
inserting the text “or Section 8.3(o)” immediately after the text “Section 8.3(n)”
where it appears in such definition.

 

6.                                       The
definition of “Excess Availability” appearing in Section 1.1 of the Credit
Agreement is hereby amended by deleting clause (i)(z) thereof and
substituting therefor the text “(z) the least of the maximum amount of Revolving
Outstandings that are permitted to be 

 

3

 

outstanding at
such time pursuant to any of the Senior Secured Notes Indenture, the Senior
Unsecured Notes Indenture, any Refinancing Notes Indenture or any Additional
Unsecured Indebtedness Agreement”.

 

7.                                       The
definition of “Holding Company Requirements” appearing in Section 1.1 of
the Credit Agreement is hereby amended by (i) deleting the word “and” at
the end of clause (1)(vii) thereof and substituting therefor a comma, (ii) renumbering
clause (1)(viii) thereof as clause (1)(ix) and deleting the text in
such clause “clauses (i) through (vii)” and substituting therefor the text
“clauses (i) through (viii)” and (iii)adding the following clause (1)(viii) to
such definition immediately after clause (1)(vii) thereof:

 

(viii) being a
co-indemnitor and party with the Borrower and/or any Domestic Subsidiaries or
Canadian Subsidiaries of the Borrower (other than the Unit Subsidiary) under
performance and surety bond agreements evidencing Indebtedness permitted under Section 8.3(f) and

 

8.                                       The
definition of “Maturity Date” appearing in Section 1.1 of the Credit
Agreement is hereby amended by deleting the text “fifth anniversary of the
Effective Date” and substituting therefor the text “fifth anniversary of the
First Amendment Effective Date”.

 

9.                                       Section 1.1
of the Credit Agreement is hereby further amended by inserting the following
new definitions in the appropriate alphabetical order:

 

Additional Unsecured Indebtedness Documents
shall mean each Additional Unsecured Indebtedness Agreement and all other
agreements, documents and instruments executed and/or delivered in connection
with any Additional Unsecured Indebtedness Agreement, including, without
limitation, any and all notes issued pursuant thereto or in connection
therewith, in each case, as the same may be amended, modified or
supplemented from time to time in accordance with the terms hereof and thereof.

 

Additional Unsecured Indebtedness Agreement
shall mean, with respect to any outstanding Indebtedness permitted under Section 8.3(o),
the indenture or other agreement, document or instrument governing such
Indebtedness, as the same may be amended, modified or supplemented from
time to time in accordance with the terms hereof and thereof.

 

First Amendment Effective Date shall have the
meaning given to such term in the First Amendment, dated as of April 12,
2006, to this Agreement.

 

Refinancing Notes Documents shall mean each
Refinancing Notes Indenture and all other agreements, documents and instruments
executed and/or delivered in connection with any Refinancing Notes Indenture,
including, without limitation, any and all notes issued pursuant thereto or in
connection therewith, in each case, as the same may be amended, modified
or supplemented from time to time in accordance with the terms hereof and
thereof.

 

4

 

Refinancing Notes Indenture shall mean, with
respect to any outstanding Indebtedness permitted under Section 8.3(n),
the indenture or other agreement, document or instrument governing such
Indebtedness, as the same may be amended, modified or supplemented from
time to time in accordance with the terms hereof and thereof.

 

10.                                 Section 2.1(d) of
the Credit Agreement is hereby amended by (i) deleting the text “at least
$5,000,000 and in integral multiples of $1,000,000 in excess thereof” in clause
(iii) thereof and substituting therefor the text “at least $5,000,000 and
in integral multiples of $5,000,000 in excess thereof” and (ii) deleting
the amount “$150,000,000” in clause (iv) thereof and substituting
therefor the amount “$250,000,000”.

 

11.                                 Section 2.1(e) of
the Credit Agreement is hereby amended by inserting the text “, the Refinancing
Notes Documents, the Additional Unsecured Indebtedness Documents” immediately
after the text “the Senior Secured Notes Documents” appearing in clause (iv) of
said section.

 

12.                                 Section 2.2(a) of
the Credit Agreement is hereby amended by deleting clause (iii) thereof
and substituting therefor the text “(iii) the least of the maximum amount
of Revolving Outstandings that are permitted to be outstanding at such time
pursuant to any of the Senior Secured Notes Indenture, the Senior Unsecured
Notes Indenture, any Refinancing Notes Indenture or any Additional Unsecured
Indebtedness Agreement”.

 

13.                                 Section 2.3(c) of
the Credit Agreement is hereby amended by inserting the text “, any Refinancing
Notes Indenture, any Additional Unsecured Indebtedness Agreement” immediately
after the text “the Senior Unsecured Notes Indenture” both times that it
appears in clause (ii) of the second sentence of said section (prior
to and within the parenthetical).

 

14.                                 Section 2.5(d) of
the Credit Agreement is hereby amended by inserting the text “, any Refinancing
Notes Indenture, any Additional Unsecured Indebtedness Agreement” immediately
after the text “the Senior Unsecured Notes Indenture” appearing in clause (i) of
the proviso to said section.

 

15.                                 Section 2.5(i) of
the Credit Agreement is hereby amended by inserting the following text at the
end thereof immediately before the period:

 

; provided, that the Net Debt Proceeds of any incurrence by the
Borrower of Indebtedness permitted under Section 8.3(o) may, at the option
of the Borrower upon written notice to the Administrative Agent received by the
Administrative Agent not less than two Business Day’s prior to the Borrower’s
receipt of such Net Debt Proceeds, be applied to prepay Revolving Loans
(without any reduction to the Total Revolving Credit Commitments) in lieu of
the aforesaid application to outstanding Term Loans

 

16.                                 Section 2.5(k)
of the Credit Agreement is hereby amended by inserting the following text at
the end thereof immediately before the period:

 

5

 

; provided, that the Applicable Equity Recapture Percentage of
the Net Equity Proceeds of any common Public Equity Offering by Holdings or
common Equity Issuance by the Borrower may, at the option of the Borrower upon
written notice to the Administrative Agent received by the Administrative Agent
not less than two Business Day’s prior to Holdings’ or the Borrower’s, as the
case may be, receipt of such Net Equity Proceeds, be applied to prepay
Revolving Loans (without any reduction to the Total Revolving Credit
Commitments) in lieu of the aforesaid application to outstanding Term Loans

 

17.                                 Section 2.6(d) of
the Credit Agreement is hereby amended by (i) inserting the text “but
subject to the next sentence” immediately after the text “to the extent all
amounts referred to in preceding clauses (1) through (3), inclusive,
have been paid in full” in clause fourth thereof, (ii) inserting
the text  “or amounts are held by the
Administrative Agent therefor as provided in the next sentence” immediately after
the text “to the extent all amounts referred to in preceding clauses (1) through
(4), inclusive, have been paid in full” in clause fifth thereof and (iii) inserting
the following sentence to the end of such section:

 

Unless so directed by the Borrower or unless an Event of Default has
occurred and is continuing, the Administrative Agent shall not apply any
amounts which it receives under clause fourth of the preceding sentence
to the payment of Revolving Loans constituting Eurodollar Rate Loans, except on
the last date of the Interest Period applicable to any such Eurodollar Rate
Loan, and until applied to the payment of Obligations such amounts and earnings
thereon shall (i) constitute Collateral for the payment of the Obligations
and (ii) be held in an investment account maintained at BofA and be
invested, at the direction and risk of the Borrower, in marketable direct
obligations issued or unconditionally guaranteed by the United States
Government or issued by any agency thereof and backed by the full faith and
credit of the United States, in each case maturing within thirty (30) days from
the date of acquisition thereof (with all interest earned thereon to constitute
income of the Borrower and not of the Administrative Agent or any Lender).

 

18.                                 Section 3.1(a)(ii) of
the Credit Agreement is hereby amended by deleting clause (C) thereof
and substituting therefor the text “(C) the least of the maximum amount of
Revolving Outstandings that are permitted to be outstanding at such time
pursuant to any of the Senior Secured Notes Indenture, the Senior Unsecured
Notes Indenture, any Refinancing Notes Indenture or any Additional Unsecured
Indebtedness Agreement”.

 

19.                                 Section 6.3
of the Credit Agreement is hereby amended by inserting the text “, any
Refinancing Notes Indenture, any Additional Unsecured Indebtedness Agreement”
immediately after the text “the Senior Unsecured Notes Indenture” appearing in
the last sentence of said section.

 

20.                                 Section 6.24
of the Credit Agreement is hereby amended by inserting the text “or any
Indebtedness permitted to be incurred under Section 8.3(n) or Section 8.3(o)”
immediately after the text “the Senior Secured Notes” appearing in clause (a) of
said section.

 

6

 

21.                                 Section 6.24
of the Credit Agreement is hereby further amended by inserting the text “, each
Refinancing Notes Indenture” immediately after the text “the Senior Unsecured
Notes Indenture” appearing in clause (b) of said section.

 

22.                                 Section 6.24
of the Credit Agreement is hereby further amended by inserting the text “and
each Refinancing Notes Indenture” immediately after the text “the Senior
Unsecured Notes Indenture” appearing in clause (c) of said section.

 

23.                                 Section 6.30
of the Credit Agreement is hereby amended by inserting the following sentence
at the end of said section:

 

None of Holdings, the Borrower, or any of their respective Subsidiaries
have incurred or will incur (i) any Permitted Units Financing (as defined
in the Refinancing Notes Indenture entered into on or about September 29,
2005) under Section 4.09(b)(12) of such Refinancing Notes Indenture or (ii) if
any Refinancing Notes Indenture (other than the Refinancing Notes Indenture
referred to in clause (i) above) shall be in effect, any Permitted Units Financing
(as defined in the Refinancing Notes Indenture referred to in clause (i) above)
or any similar financing if such Permitted Units Financing or similar financing
shall, by the terms of any such Refinancing Notes Indenture, reduce or
otherwise limit or restrict the amount of financial accommodations that may be
outstanding hereunder at any one time or the amount of Obligations that may be
secured by Liens.

 

24.                                 Section 7.14
of the Credit Agreement is hereby amended by (i) inserting the text “or Section 8.3(o)”
immediately after the text “Indebtedness permitted under Section 8.3(n)”
in clause (ii) of the last sentence thereof and (ii) deleting
the text “Sections 8.3(d), (l) and (n)” in clause (ii) of  the last sentence thereof and substituting
therefor the text “Sections 8.3(d), (l), (n) and (o)”.

 

25.                                 Section 7.17(a) of
the Credit Agreement is hereby amended by (i) deleting the word “and”
immediately before subclause (B) of clause (vi) thereof and (ii) inserting
the following text at the end of such subclause (B) immediately before the
semicolon:

 

and (C) in addition to the
amount of proceeds of Revolving Loans permitted under clauses (A) and (B) above,
the Borrower, directly or through any of the Borrower’s Wholly-Owned Domestic
Subsidiaries, may use proceeds of Revolving Loans to pay the purchase
price or any other amounts related to Permitted Acquisitions so  long
as (1) each such Permitted Acquisition is with respect only to the
acquisition of assets located in the United States or of any Person that, as a
result of such acquisition, shall become a Wholly-Owned Domestic Subsidiary of
the Borrower (and each of such Person’s Subsidiaries shall become a
Wholly-Owned Domestic Subsidiary of the Borrower) with no assets or business
outside of the United States, both directly and indirectly through any of its
Subsidiaries (other than de minimus assets and business) and (2) (x) Average Excess Availability for the period of 60 consecutive
days ending on (and including) the day on which such Permitted Acquisition is
consummated, 

 

7

 

on a pro  forma
basis as if such Permitted Acquisition (and any Credit Events to occur in
connection therewith) had occurred on the first day of such 60 day period, is
greater than twenty percent (20%) of the sum of the Total Revolving Credit
Commitments and aggregate Term
Loan Outstandings of all Lenders, in each instance, on the last day of such 60 day period and (y) Excess
Availability is greater than twenty percent (20%) of the sum of the Total
Revolving Credit Commitments and
aggregate Term Loan Outstandings of all Lenders, in each instance, on the date
of consummation of such Permitted Acquisition after giving effect to such
Permitted Acquisition and any Credit Events in connection therewith

 

26.                                 Section 8.2(o)
of the Credit Agreement is hereby amended by deleting the text “granted by
Holdings and/or the Borrower” in such section and substituting therefor
the text “granted by Holdings, the Borrower and/or any of the Borrower’s
Domestic Subsidiaries (other than the Unit Subsidiary) or Canadian Subsidiaries”.

 

27.                                 Section 8.3(f) of
the Credit Agreement is hereby amended by (i) deleting the text “Indebtedness
of the Borrower and/or Holdings” in such section and substituting therefor
the text “Indebtedness of the Borrower, Holdings and/or any of the Borrower’s
Domestic Subsidiaries (other than the Unit Subsidiary) or Canadian Subsidiaries”,
(ii) inserting the text “and including the obligations of Holdings as
co-indemnitor with the Borrower and/or any of the Borrower’s Domestic
Subsidiaries (other than the Unit Subsidiary) with respect thereto” at the end
of the first parenthetical of such section before the close parenthesis
and (iii) deleting the portion of such section commencing with the text
“(i) $100,000,000 at any time outstanding” through but excluding the
semicolon at the end thereof and substituting therefor the text “$200,000,000
at any time outstanding”.

 

28.                                 Section 8.3
of the Credit Agreement is hereby further amended by (i) deleting the word
“and” at the end of clause (m) thereof, (ii) deleting the text “clause (n)
below” in clause (m) thereof and substituting therefor the text “clauses (n)
and (o) below”, (iii) deleting the period at the end of clause (n)
thereof and substituting therefor “; and”, (iv) deleting the text “Initial
Borrowing Date” in clause (n)(ii) thereof and substituting therefor the
text “First Amendment Effective Date” and (v) adding the following
clause (o) thereto:

 

(o)                                 unsecured
Indebtedness of the Borrower having (i) no amortization of principal, (ii) a
scheduled maturity date no earlier than 5 1⁄2 years after the First Amendment
Effective Date, (iii) cash interest not to exceed 12 1⁄2% per annum (in the
case of floating rate Indebtedness, based on the interest rate as of the date
of the original issuance thereof) and (iv) covenants and events of default
customary for public high yield senior unsecured note offerings, the proceeds
of which shall be used for the Borrower’s general corporate purposes permitted
hereunder (including, without limitation, to repay Revolving Loans or to
refinance prior Indebtedness permitted under this clause (o), in each
instance in the case of refinancing prior Indebtedness permitted under this
clause (o), as provided in Section 8.13(i)(D)), and unsecured guarantees
thereof by Holdings and the Subsidiary Guarantors, provided that (i) the
Unit Subsidiary’s guarantee of any 

 

8

 

such Indebtedness is subordinated on terms
substantially similar to the subordination of the Unit Subsidiary’s guarantee
of the Indebtedness of the Borrower under the Refinancing Notes Documents
issued on or about September 29, 2005, (ii) the aggregate principal
amount thereof shall not exceed $150,000,000 (less the amount of principal
repayments thereof other than repayments constituting the refinancing thereof
permitted by Section 8.13(i)(D)) and (iii)  the Borrower may incur
Indebtedness under this clause (o) in addition to the aggregate principal
amount permitted to be incurred under clause (ii) above so long as
(x) the Consolidated Leverage Ratio for the four consecutive fiscal
quarter period of the Borrower (taken as one accounting period) most recently
ended prior to the date of the incurrence of such Indebtedness for which
Financial Statements were required to be delivered pursuant to Section 7.1(a) or
(b), on a pro  forma basis as if such Indebtedness had been
incurred on the first day of such period, is less than 6.50:1.00 and
(y) the aggregate principal amount thereof shall not exceed $150,000,000
(less the amount of principal repayments thereof other than repayments
constituting the refinancing thereof permitted by Section 8.13(i)(D)).

 

29.                                 Section 8.4
of the Credit Agreement is hereby amended by adding to the table contained
therein the fiscal year ending December 31, 2011 and the amount
$185,000,000 to be set forth opposite such fiscal year.

 

30.                                 Section 8.5(t)
of the Credit Agreement is hereby amended by inserting the text “, the
Refinancing Notes Documents, the Additional Unsecured Indebtedness Documents”
immediately after the text “the Senior Unsecured Notes Documents” appearing in
said section.

 

31.                                 Section 8.6(h) of
the Credit Agreement is hereby amended by inserting the text “(other than
clause (a)(vi)(C) thereof)” immediately after the text “shall not exceed
the aggregate amount of proceeds of Revolving Loans permitted under Section 7.17”
in clause (2) thereof.

 

32.                                 Section 8.13
of the Credit Agreement is hereby amended by (i) inserting the text “or Section 8.3(o)”
after the first usage of the text “Section 8.3(n)” in clause (i) of
such section and after each usage of the text “Section 8.3(n)” in
clause (ii) of such section, (ii) deleting the word “and” before
subclause (C) in clause (i) of such section and substituting a
comma therefor and (iii) inserting the following text at the end of clause
(i) of such section immediately before the semicolon:

 

and (D) the Borrower may refinance
any Indebtedness permitted under Section 8.3(o) with other Indebtedness
permitted under Section 8.3(o) or any equity or debt offering by Holdings
not prohibited by this Credit Agreement; provided that  (x) Average
Excess Availability for the period of 60 consecutive days ending on (and
including) the day on which such refinancing is consummated, on a pro forma
basis as if such refinancing (and any Credit Events to occur in connection
therewith) had occurred on the first day of such 60 day period, is greater than
or equal to $75,000,000, (y) Excess Availability is greater than $75,000,000
on the date of such refinancing after giving effect to such refinancing and any
Credit 

 

9

 

Events in connection therewith
and(z) no Default or Event of Default exists at the time of such refinancing or
would result therefrom

 

33.                                 Section 8.15
of the Credit Agreement is hereby amended by deleting the text “and (n)” at the
end of clause (iii) of such section and substituting therefor the
text “, (n) and (o)”.

 

34.                                 Section 8.16
of the Credit Agreement is hereby amended by inserting the text “the investment
account described in the last sentence of Section 2.6(d),” immediately
after the text “ the Disbursement Account,” in clause (A)(i) thereof.

 

35.                                 Section 8.17
of the Credit Agreement is hereby amended by inserting the text “the investment
account described in the last sentence of Section 2.6(d),” immediately
after the text “the Concentration Account,” contained therein.

 

36.                                 Section 8.20
of the Credit Agreement is hereby amended by inserting the text “, any
Refinancing Notes Indenture, any Additional Unsecured Indebtedness Agreement”
immediately after the text “the Senior Unsecured Notes Indenture” appearing in
clauses (iii) and (iv) of said section.

 

37.                                 Section 11.6
of the Credit Agreement is hereby amended by adding the following subsection (f) thereto:

 

(f)                                    Notwithstanding
anything in this Section 11.6 to the contrary, (i) any assignment
intended to replace a Lender as contemplated by Section 11.6(d) may be
reflected by an Assignment and Assumption Agreement or another assignment
agreement in form and substance satisfactory to the Administrative Agent
and shall be effective (x) without the execution of the relevant assignment
agreement by the Replaced Lender (and such Replaced Lender shall nonetheless be
bound thereby as if such Replaced Lender had executed such assignment
agreement) and (y) without the delivery of a written notice in the form of
Exhibit Q-2 hereto, so long as in each instance the assignment
contemplated thereby otherwise complies with the provisions of this Section 11.6,
(ii) any payments to be made by a Replacement Lender to a Replaced Lender
under this Section 11.6(d) shall, at the request of the
Administrative Agent, be made to the Administrative Agent on behalf of the
Replaced Lender (and the Administrative Agent shall promptly remit such amounts
to the Replaced Lender after such assignment becomes effective) and (iii) if
the Borrower shall have issued one or more Notes to the Replaced Lender and the
Replaced Lender shall fail to deliver such Notes to the Borrower or the
Administrative Agent on behalf of the Borrower within five Business Days after
the assignment replacing such Replaced Lender is effective, then (x) such Notes
shall be deemed cancelled (but the obligations evidenced thereby shall continue
to be outstanding) and (y) upon the request of the Replacement Lender, the
Borrower shall issue new Notes to the Replacement Lender to reflect the revised
Commitments and outstanding Loans of the Replacement Lender.

 

10

 

II.                                     Undertakings.

 

1.                                       The
Borrower hereby agrees to execute and deliver, or cause to be executed and
delivered, to the Collateral Agent, within 30 Business Days of the request of
the Collateral Agent, any and all amendments and modifications to the various
Mortgages, in form and substance reasonably satisfactory to the
Administrative Agent and the Collateral Agent, as the Collateral Agent may request
in order to reflect the extension of the Maturity Date and other relevant modifications
to the Credit Agreement contemplated by this Amendment.

 

2.                                       Each
of Holdings and the Borrower shall take, and shall cause each of their
respective Subsidiaries to take, all such further actions and execute all such
further documents and instruments as the Administrative Agent may at any
time reasonably determine to be necessary or desirable to further carry out and
consummate the amendments to the Credit Agreement contemplated by this
Amendment.

 

11

 

III.                                 Miscellaneous.

 

1.                                       In
order to induce the Administrative Agent, the Issuing Lenders and the Lenders
to enter into this Amendment, each Credit Agreement Party hereby represents and
warrants that:

 

(a)                                  no
Default or Event of Default exists as of the First Amendment Effective Date (as
defined below), both immediately before and immediately after giving effect
thereto; and

 

(b)                                 all
of the representations and warranties contained in the Credit Agreement and the
other Credit Documents are true and correct in all material respects on the
First Amendment Effective Date both immediately before and immediately after
giving effect thereto, with the same effect as though such representations and
warranties had been made on and as of the First Amendment Effective Date (it
being understood that any representation or warranty made as of a specific date
shall be true and correct in all material respects as of such specific date).

 

2.                                       This
Amendment is limited as specified and shall not constitute a modification, acceptance
or waiver of any other provision of the Credit Agreement or any other Credit
Document.

 

3.                                       This
Amendment may be executed in any number of counterparts and by the
different parties hereto on separate counterparts, each of which counterparts
when executed and delivered shall be an original, but all of which shall
together constitute one and the same instrument.

 

4.                                       THIS
AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAW OF THE STATE OF
NEW YORK.

 

5.                                       This
Amendment shall become effective on the date (the “First Amendment Effective
Date”) when each of the following conditions have been satisfied:

 

(a)                                  each
Credit Party, the Administrative Agent, the Issuing Lenders and the Lenders
shall have signed a counterpart hereof (whether the same or different
counter parts) and shall have delivered (including by way of facsimile or
electronic transmission) the same to Kaye Scholer LLP, 425 Park Avenue, New
York, NY 10036 Attention:  Cynthia
Patrick (facsimile number: 212-836-6587 and e-mail address:
cpatrick@kayescholer.com); and

 

12

 

(b)                                 the
Administrative Agent shall have received, in form and substance
satisfactory to the Administrative Agent, BofA and DBTCA, a fully executed fee
letter, dated the date hereof, between the Administrative Agent and the
Borrower, and the Administrative Agent shall have received payment of all fees
payable thereunder.

 

Notwithstanding
the above conditions, the amendment to the Credit Agreement contemplated by Part I,
Section 37 of this Amendment shall be effective on the date when the
conditions precedent in clauses (a) and (b) above have been
satisfied, except that instead of a signed counterpart hereof from all the
Lenders, those Lenders that are party to the Credit Agreement immediately prior
to the effectiveness of any assignments contemplated by Section 11.10(b) of
the Credit Agreement with respect to this Amendment, constituting the Required
Lenders at such time, shall have signed a counterpart hereof and delivered
same to Kaye Scholer LLP as aforesaid.

 

6.                                       The
Credit Agreement is hereby ratified and confirmed and, except as herein agreed,
remains in full force and effect in accordance with its terms.

 

7.                                       At
all times on and after the First Amendment Effective Date, all references in
the Credit Agreement and each of the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Credit Agreement after giving
effect to this Amendment. It is agreed that this Amendment shall constitute a
Credit Document for all purposes under the Credit Agreement and the other
Credit Documents.

 

*     *     *

 

13

 

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

 

	
   

  	
  WILLIAMS
  SCOTSMAN INTERNATIONAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
  /s/
  Scott Becker

  
	
   

  	
   

  	
   

  	
  Title:
  Vice President - Finance

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WILLIAMS
  SCOTSMAN, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
  /s/
  Scott Becker

  
	
   

  	
   

  	
   

  	
  Title:
  Vice President - Finance

  

 

By its signature below, each of the undersigned hereby consents to the
foregoing Amendment and ratifies and confirms the Guaranty to which it is a
party.

 

	
  WILLIAMS SCOTSMAN INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Scott Becker

  	
   

  
	
   

  	
  Title: Vice President - Finance

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  WILLSCOT EQUIPMENT, LLC

  
	
   

  	
   

  	
   

  
	
  By:

  	
  WILLIAMS SCOTSMAN, INC.,

  
	
   

  	
  as Member

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John B. Ross

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President,

  	
   

  
	
   

  	
   

  	
   

  	
  Williams Scotsman, Inc.

  	
   

  
	
   

  	
   

  	
   

  	
  Sole Member

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SPACE MASTER INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ John B. Ross

  	
   

  
	
   

  	
  Title: Vice President

  	
   

  

 

 

	
  TRUCK & TRAILER SALES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ John B. Ross

  	
   

  
	
   

  	
  Title: Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EVERGREEN MOBILE COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ John B. Ross

  	
   

  
	
   

  	
  Title: Vice President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  WILLIAMS SCOTSMAN OF CANADA, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ John B. Ross

  	
   

  
	
   

  	
  Title: Secretary

  	
   

  

 

 

	
   

  	
  SIGNATURE
  PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12, 2006, AMONG
  WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC., THE
  LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF AMERICA,
  N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK
  OF AMERICA, N.A., Individually, as Administrative Agent and as an Issuing
  Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Kevin Corcoran

  
	
   

  	
   

  	
  Title:
  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK TRUST COMPANY AMERICAS, Individually and as an Issuing
  Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Marguerite Sutton

  
	
   

  	
   

  	
  Title:  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Carin Keegan

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James O’Connell

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE CIT GROUP/BUSINESS CREDIT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Evelyn Kusold                                                

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GMAC COMMERCIAL FINANCE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Frank DiCeglie

  
	
   

  	
   

  	
  Title:  Director

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John M. Hariaczyi

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GE CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian P. Schwinn

  
	
   

  	
   

  	
  Title:  Duly Authorized
  Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MERRILL LYNCH CAPITAL, a division of Merrill Lynch Business Financial
  Services Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew C. Sepe

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NATIONAL CITY BUSINESS CREDIT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric Huff

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HSBC BUSINESS CREDIT (USA) INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dan Bueno

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WELLS FARGO BANK, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Reginald M. Goldsmith III

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PNC BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig Sheetz

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LASALLE BUSINESS CREDIT, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven Chalmers

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SUNTRUST BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Haynes Gentry

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  UPS CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John P. Holloway

  
	
   

  	
   

  	
  Title:  Director of Portfolio
  Management

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TEXTRON FINANCIAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian O’Fallon

  
	
   

  	
   

  	
  Title: SR Account Executive

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SIEMENS FINANCIAL SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph A. Accardi

  
	
   

  	
   

  	
  Title:  Managing Director

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CITICORP USA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Shane V. Azzara

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WEBSTER BUSINESS CREDIT CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Stamptel

  
	
   

  	
   

  	
  Title: Assistant Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SANDY SPRING BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Roy S. Lewis

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LEHMAN COMMERCIAL PAPER INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Diane Albanese

  
	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CIBC, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gerald Girardi

  
	
   

  	
   

  	
  Title:  Authorized Signatory
  CIBC Inc.

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LOAN FUNDING I LLC, a wholly owned subsidiary of Citibank, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: TCW Advisors, Inc., as portfolio manager of Loan Funding I
  LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Wayne Hosang

  
	
   

  	
   

  	
  Title:  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen Suo

  
	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
  OAK HILL CREDIT PARTNERS I,

  LIMITED

  	
  OAK HILL CREDIT PARTNERS II,

  LIMITED

  
	
   

  	
   

  
	
  By:

  	
  Oak Hill CLO Management I, LLC, 

  as Investment Manager

  	
   

  	
  By:

  	
  Oak Hill CLO Management II, LLC, as

  Investment Manager

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Scott D. Krase

  	
   

  	
  By:

  	
  /s/ Scott D. Krase  

  
	
   

  	
  Title: Authorized Person

  	
   

  	
   

  	
  Name:               Scott
  D. Krase

  
	
   

  	
   

  	
   

  	
  Title:                     Authorized
  Person

  
	
   

  	
   

  	
   

  	
   

  
	
  OAK HILL CREDIT PARTNERS III,

  LIMITED

  	
  OAK HILL CREDIT PARTNERS IV,

  LIMITED

  
	
   

  	
   

  
	
  By:

  	
  Oak Hill CLO Management III, LLC, 

  as Investment Manager

  	
   

  	
  By:

  	
  Oak Hill CLO Management IV, LLC,

  as Investment Manager

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Scott D. Krase

  	
   

  	
  By:

  	
  /s/ Scott D. Krase

  
	
   

  	
  Name: Scott D. Krase

  	
   

  	
   

  	
  Name:               Scott
  D. Krase

  
	
   

  	
  Title: Authorized Person

  	
   

  	
  Title:                     Authorized
  Person

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SMBC MVI SPC

  on behalf of and for the account of Segregated

  Portfolio No. 1

  	
   

  
	
   

  	
   

  
	
  By:

  	
  Oak
  Hill Separate Account

  As Investment Manager

  Management I, LLC

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Scott D. Krase

  	
   

  	
   

  	
   

  
	
   

  	
  Name:
  Scott D. Krase

  	
   

  	
   

  	
   

  
	
   

  	
  Title:
  Authorized Person

  	
   

  	
   

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CLASSIC CAYMAN B.D. LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Janet Wolff

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Conon

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STONE TOWER CDO II LTD.

  By: Stone Tower Debt Advisors LLC, as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STONE TOWER CLO II LTD.

  By: Stone Tower Debt Advisors LLC, as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STONE TOWER CLO IV LTD.

  By: Stone Tower Debt Advisors LLC, as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STONE TOWER CREDIT FUNDING I LTD.

  By: Stone Tower Debt Advisors LLC, as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRANITE VENTURES I LTD.

  By: Stone Tower Debt Advisors LLC, as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRANITE VENTURES III LTD.

  By: Stone Tower Debt Advisors LLC, as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIGHTPOINT CLO III, LTD.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Lightpoint Capital Management LLC as Collateral Manager

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Colin Donlan

  
	
   

  	
   

  	
  Title:
  Director

  
				

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MCDONNELL LOAN OPPORTUNITY LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: McDonnell Investment Management, LLC, as Investment Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kathleen A. Zam

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WIND RIVER CLO II LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: McDonnell Investment Management, LLC, as Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kathleen A. Zam

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF AMERICA,
  N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  POST LONG/SHORT CREDIT MASTER FUND, LP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: Post Advisory Group, LLC, as General Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lawrence A. Post

  
	
   

  	
   

  	
  Title: Chief Investment Officer

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRAND CENTRAL ASSET TRUST, BDC SERIES

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Roy Hykal

  
	
   

  	
   

  	
  Title:  Attorney-In-Fact

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LOAN FUNDING XIII LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard F. Kurth

  
	
   

  	
   

  	
  Title:  Managing Director

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KATONAH VII, CLO LTD.

  
	
   

  	
   

  
	
   

  	
  By:  Katonah Debt Advisors, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Gilligan

  
	
   

  	
   

  	
  Title:

  	
  Authorized Officer

  
	
   

  	
   

  	
   

  	
  Katonah Debt Advisors, L.L.C.

  As Manager

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SENIOR DEBT PORTFOLIO

  
	
   

  	
   

  
	
   

  	
  By: Boston Management and Research as 
       Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EATON VANCE SENIOR INCOME TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as 
  Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EATON VANCE LIMITED DURATION INCOME FUND

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EATON VANCE SENIOR FLOATING-RATE TRUST

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EATON VANCE FLOATING-RATE INCOME TRUST

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EATON VANCE SHORT DURATION DIVERSIFIED INCOME FUND

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRAYSON & CO

  
	
   

  	
   

  
	
   

  	
  By: Boston Management and Research as Investment Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BIG SKY III SENIOR LOAN TRUST

  
	
   

  	
   

  
	
   

  	
  By: Eaton Vance Management as Investment Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE NORINCHUKIN BANK, NEW YORK BRANCH, through State Street Bank and
  Trust Company as Fiduciary Custodian.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:  Eaton Vance Management,
  Attorney-in-fact

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FIRST 2004-II CLO, LTD.

  By: TCW Advisors, Inc., its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Wayne Hosang

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen Suo

  
	
   

  	
   

  	
  Title: Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FIRST 2004-I CLO, LTD.

  By: TCW Advisors, Inc., its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Wayne Hosang

  
	
   

  	
   

  	
  Title:  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen Suo

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  VELOCITY CLO, LTD.

  By: TCW Advisors, Inc., its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Wayne Hosang

  
	
   

  	
   

  	
  Title:  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen Suo

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TCW SENIOR SECURED LOAN FUND

  By: TCW Advisors, Inc., its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Wayne Hosang

  
	
   

  	
   

  	
  Title:  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen Suo

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TCW SELECT LOAN FUND LIMITED

  By: TCW Advisors, Inc., its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Wayne Hosang

  
	
   

  	
   

  	
  Title:  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen Suo

  
	
   

  	
   

  	
  Title:  Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MADISON PARK FUNDING III LTD

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Flannery

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CSAM FUNDING I

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Flannery

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FIRST DOMINION FUNDING II

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Flannery

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FIRST DOMINION FUNDING III

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Flannery

  
	
   

  	
   

  	
  Title:  Authorized Signatory

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FLAGSHIP CLO-2001-1

  Deutsche Asset Management, Inc., 

  as Subadviser

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric S. Meyer

  
	
   

  	
   

  	
  By:                Eric
  S. Meyer

  Title:       Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William Weiss  

  
	
   

  	
   

  	
  By:                William
  Weiss

  
	
   

  	
   

  	
  Title:       Vice
  President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FLAGSHIP CLO II

  
	
   

  	
   

  	
  Deutsche Asset Management, Inc.,

  as Subadviser

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric S. Meyer

  
	
   

  	
   

  	
  By:                Eric
  S. Meyer

  Title:       Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William Weiss  

  
	
   

  	
   

  	
  By:                William
  Weiss

  Title:       Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KATONAH II, LTD.

  
	
   

  	
   

  
	
   

  	
  By: Sankaty Advisors, LLC as Sub-Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KATONAH III, LTD.

  
	
   

  	
   

  
	
   

  	
  By: Sankaty Advisors, LLC as Sub-Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KATONAH IV, LTD.

  
	
   

  	
   

  
	
   

  	
  By: Sankaty Advisors, LLC as Sub-Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LOAN FUNDING XI LLC

  
	
   

  	
   

  
	
   

  	
  By: Sankaty Advisors, LLC as Collateral Manager

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RACE POINT CLO, LIMITED

  By: Sankaty Advisors, LLC as Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RACE POINT II CLO, LIMITED

  By: Sankaty Advisors, LLC as Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CASTLE HILL I - INGOTS, LTD.

  By: Sankaty Advisors, LLC as Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffrey Hawkins

  
	
   

  	
   

  	
  Title:  Senior Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HARBOUR TOWN FUNDING LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anna M. Tallent

  
	
   

  	
   

  	
  Title:  Assistant Vice
  President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LONG LANE MASTER TRUST IV

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anna M. Tallent

  
	
   

  	
   

  	
  Name:   Anna M. Tallent

  Title:     Authorized Agent

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFIELD VANTAGE CLO, LTD.

  
	
   

  	
   

  
	
   

  	
  By: Stanfield Capital Partners LLC as its Asset Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christopher E. Jansen

  
	
   

  	
   

  	
  Title:  Managing Partner

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TRS CALLISTO LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Deirdre Whorton

  
	
   

  	
   

  	
  Title:  Assistant Vice President

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NUVEEN FLOATING RATE INCOME FUND

  
	
   

  	
   

  
	
   

  	
  By: Symphony Asset Management, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lenny Mason

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NUVEEN SENIOR INCOME FUND

  
	
   

  	
   

  
	
   

  	
  By: Symphony Asset Management, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lenny Mason

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MAGNETITE IV CLO, LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Colwell

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MAGNETITE ASSET INVESTORS LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Colwell

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BLACKROCK LIMITED DURATION INCOME TRUST

  
	
   

  	
   

  
	
   

  	
  By: BlackRock Financial Management, Inc., its Sub-Advisor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Thomas Colwell

  
	
   

  	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  SIGNATURE PAGE TO THE FIRST AMENDMENT, DATED AS OF APRIL 12,
  2006, AMONG WILLIAMS SCOTSMAN INTERNATIONAL, INC., WILLIAMS SCOTSMAN, INC.,
  THE LENDERS FROM TIME TO TIME PARTY TO THE CREDIT AGREEMENT AND BANK OF
  AMERICA, N.A., AS ADMINISTRATIVE AGENT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BLACKROCK SENIOR INCOME SERIES II

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Colwell

  
	
   

  	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]