Document:

EX-10.2

 Exhibit 10.2 

GUARANTY 
 This
GUARANTY, dated as of March 31, 2016 (the “Guaranty”), is made by each Subsidiary of MCGRATH RENTCORP, a California corporation (the “Borrower”), identified as a “Guarantor” on
the signature pages hereto or that becomes a Guarantor hereunder after the date hereof (collectively, the “Guarantors”), in favor of BANK OF AMERICA, N.A., in its capacity as the administrative agent (together with its
successor(s) thereto in such capacity, the “Administrative Agent”) for the holders of the Obligations. 
 W I T N E
S S E T H: 
 WHEREAS, pursuant to the Credit Agreement, dated as of March 31, 2016 (as amended, restated, supplemented or
otherwise modified, the “Credit Agreement”), among the Borrower, the Administrative Agent and the Lenders party thereto, the Lenders have extended Commitments to make Loans to the Borrower and the L/C Issuer has agreed to issue
Letters of Credit for the account of the Borrower or its Subsidiaries; and 
 WHEREAS, as a condition precedent to the making of the Loans
and the issuance of Letters of Credit under the Credit Agreement, each Guarantor is required to execute and deliver this Guaranty. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in order to induce the Lenders to make Loans to the Borrower and the L/C Issuer to issue Letters of Credit for the account of the
Borrower or its Subsidiaries, each Guarantor jointly and severally agrees with the Administrative Agent, for the benefit of each holder of the Obligations, as follows: 

ARTICLE I 
 DEFINITIONS 

SECTION 1.1. Certain Terms. The following terms when used in this Guaranty, including its preamble and recitals, shall have the
following meanings (such definitions to be equally applicable to the singular and plural forms thereof): 
 “Administrative
Agent” is defined in the preamble. 
 “Borrower” is defined in the preamble. 

“Credit Agreement” is defined in the first recital. 

“Guarantors” is defined in the preamble. 

“Guaranty” is defined in the preamble. 

“Termination Date” means the date on which all Obligations have been paid in full in cash, and all Commitments shall have been
terminated. 

 SECTION 1.2. Credit Agreement Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Guaranty, including its preamble and recitals, have the meanings provided in the Credit Agreement. 

SECTION 1.3. Other Interpretive Provisions. Section 1.02 of the Credit Agreement is incorporated hereby by reference. 

ARTICLE II 
 GUARANTY PROVISIONS

 SECTION 2.1. Guaranty. Each Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably: 

(a) guarantees, as primary obligor and not as surety, the full and punctual payment when due, whether at stated maturity, by
required prepayment, declaration, acceleration, demand or otherwise, of all Obligations now or hereafter existing, whether for principal, interest (including interest accruing at the then applicable rate provided in the Credit Agreement after the
occurrence of any Default set forth in Section 8.01(f) or (g) of the Credit Agreement, whether or not a claim for post-filing or post-petition interest is allowed under applicable Law following the institution of a proceeding under
bankruptcy, insolvency or similar Laws), fees, reimbursement obligations with respect to letters of credit or otherwise, expenses or otherwise (including all such amounts which would become due but for the operation of the automatic stay under
section 362(a) of the United States Bankruptcy Code, 11 U.S.C. §362(a), and the operation of sections 502(b) and 506(b) of the United States Bankruptcy Code, 11 U.S.C. §502(b) and §506(b)); provided that each Guarantor shall
only be liable under this Guaranty for the maximum amount of such liability that can be hereby incurred without rendering this Guaranty, as it relates to such Guarantor, voidable under applicable Law relating to fraudulent conveyance or fraudulent
transfer, and not for any greater amount. This Guaranty constitutes a guaranty of payment when due and not of collection, and each Guarantor specifically agrees that it shall not be necessary or required that any holder of the Obligations (or the
Administrative Agent on behalf of the holders of the Obligations) exercise any right, assert any claim or demand or enforce any remedy whatsoever against any Loan Party or any other Person before or as a condition to the obligations of such
Guarantor hereunder; and 
 (b) indemnifies and holds harmless each Lender for any and all costs and expenses (including
reasonable attorneys’ fees and expenses) incurred by such Lender (or the Administrative Agent on behalf of the Lenders) in enforcing any rights under this Guaranty; 

provided that each Guarantor shall be liable under this Guaranty only for the maximum amount of such liability that can be hereby incurred without
rendering such liability subject to avoidance under applicable Debtor Relief Laws. This Guaranty constitutes a guaranty of payment when due and not of collection, and each Guarantor specifically agrees that it shall not be necessary or required that
any Lender (or the Administrative Agent on behalf of the Lenders) exercise any right, assert any claim or demand or enforce any remedy whatsoever against any Loan Party or any other Person before or as a condition to the obligations of such
Guarantor hereunder. 

  
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 SECTION 2.2. Payments Set Aside. To the extent that any payment by or on behalf of any
Guarantor is made to the Administrative Agent or any holder of the Obligations, or the Administrative Agent or any holder of the Obligations exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is
subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be reinstated and continued in full force and effect as if such
payment had not been made or such setoff had not occurred. 
 SECTION 2.3. Guaranty Absolute, etc. This Guaranty shall in all
respects be a continuing, absolute, unconditional and irrevocable guaranty of payment, and shall remain in full force and effect until the Termination Date has occurred. Each Guarantor jointly and severally guarantees that the Obligations will be
paid strictly in accordance with the terms of each Loan Document under which they arise, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of any holder of the
Obligations with respect thereto. The liability of each Guarantor under this Guaranty shall be joint and several, absolute, unconditional and irrevocable irrespective of: 

(a) any lack of validity, legality or enforceability of any Loan Document; 

(b) the failure of any holder of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations)
(i) to assert any claim or demand or to enforce any right or remedy against any Loan Party or any other Person (including any other guarantor) under the provisions of any Loan Document or otherwise, or (ii) to exercise any right or remedy
against any other guarantor (including any Guarantor) of, or collateral securing, any Obligations; 
 (c) any change in the
time, manner or place of payment of, or in any other term of, all or any part of the Obligations, or any other extension, compromise or renewal of any Obligation; 

(d) any reduction, limitation, impairment or termination of any Obligations for any reason, including any claim of waiver,
release, surrender, alteration or compromise, and shall not be subject to (and each Guarantor hereby waives any right to or claim of) any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality,
nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any Obligations or otherwise; 

(e) any amendment to, rescission, waiver, or other modification of, or any consent to or departure from, any of the terms of
any Loan Document; 

  
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 (f) any addition, exchange or release of any collateral or of any Person that is
(or will become) a guarantor (including a Guarantor hereunder) of the Obligations, or any surrender or non-perfection of any collateral, or any amendment to or waiver or release of or addition to, or consent to or departure from, any other guaranty
held by any holder of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations) securing any of the Obligations; or 

(g) any other circumstance which might otherwise constitute a defense available to, or a legal or equitable discharge of, any
Loan Party, any surety or any guarantor. 
 SECTION 2.4. Setoff. If an Event of Default shall have occurred and be continuing, each
Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, after obtaining the prior written consent of the Administrative Agent, to the fullest extent permitted by applicable law, to set
off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate
to or for the credit or the account of any Guarantor against any and all of the obligations of such Guarantor now or hereafter existing under this Guaranty or any other Loan Document to such Lender, the L/C Issuer or any such L/C Issuer or
Lender’s Affiliate, irrespective of whether or not such Lender, the L/C Issuer or Affiliate shall have made any demand under this Guaranty or any other Loan Document and although such obligations of such Guarantor may be contingent or unmatured
or are owed to a branch, office or Affiliate of such Lender different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such
right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.16 of the Credit Agreement and, pending such payment,
shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and (y) the Defaulting Lender shall provide promptly to the Administrative
Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in
addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly
after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application. 

SECTION 2.5. Waiver, etc. Each Guarantor hereby waives promptness, diligence, notice of acceptance and any other notice with respect to
any of the Obligations and this Guaranty and any requirement that any holder of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations) protect, secure, perfect or insure any Lien, or any property subject thereto,
or exhaust any right or take any action against any Loan Party or any other Person (including any other guarantor) or entity or any collateral securing the Obligations, as the case may be. Each Guarantor waives any rights and defenses that are or
may become available to such Guarantor by reason of §§ 2787 to 2855, inclusive, and §§ 2899 and 3433 of the California Civil Code. As provided below, this Guaranty shall be governed by, and

  
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construed in accordance with, the Laws of the State of New York. The foregoing waivers and the provisions hereinafter set forth in this Guaranty which pertain to California Law are included
solely out of an abundance of caution, and shall not be construed to mean that any of the above-referenced provisions of California Law are in any way applicable to this Guaranty or the Obligations. 

SECTION 2.6. Postponement of Subrogation, etc. The Guarantors agree among themselves that, in connection with payments made hereunder,
each Guarantor shall have contribution rights against the other Guarantors as permitted under applicable Law. Each Guarantor agrees that it will not exercise any rights which it may acquire by way of rights of subrogation under this
Guaranty or any other Loan Document to which it is a party, nor shall any Guarantor seek or be entitled to seek any contribution, indemnity or reimbursement from any Loan Party, in respect of any payment made by such Guarantor hereunder, until
following the Termination Date. Any amount paid to any Guarantor on account of any such subrogation, contribution, indemnity or reimbursement rights prior to the Termination Date shall be held in trust for the benefit of the holders of the
Obligations and shall immediately be paid and turned over to the Administrative Agent for the benefit of the holders of the Obligations in the exact form received by such Guarantor (duly endorsed in favor of the Administrative Agent, if required),
to be credited and applied against the Obligations, whether matured or unmatured, in accordance with Section 2.7; provided that if any Guarantor has made payment to the holders of the Obligations (or to the Administrative Agent on
behalf of the holders of the Obligations) of all or any part of the Obligations and the Termination Date has occurred, then at such Guarantor’s request, the Administrative Agent (on behalf of the holders of the Obligations) will, at the expense
of such Guarantor, execute and deliver to such Guarantor appropriate documents (without recourse and without representation or warranty) necessary to evidence the transfer by subrogation to such Guarantor of an interest in the Obligations resulting
from such payment. In furtherance of the foregoing, at all times prior to the Termination Date, each Guarantor shall refrain from taking any action or commencing any proceeding against any Loan Party (or its successors or assigns, whether in
connection with a bankruptcy proceeding or otherwise) to recover any amounts in respect of payments made under this Guaranty to any holder of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations). 

SECTION 2.7. Payments; Application. Each Guarantor hereby agrees with each holder of the Obligations as follows: 

(a) Each Guarantor agrees that all payments made by such Guarantor hereunder will be made in Dollars to the Administrative
Agent, without setoff, counterclaim or other defense and in accordance with Sections 3.01 and 8.03 of the Credit Agreement, free and clear of and without deduction for any Taxes, each Guarantor hereby agreeing to comply with and be bound by the
provisions of Sections 3.01 and 8.03 of the Credit Agreement in respect of all payments made by it hereunder and the provisions of which Sections are hereby incorporated into and made a part of this Guaranty by this reference as if set forth herein;
provided that references to the “Borrower” in such Sections shall be deemed to be references to each Guarantor, and references to “this Agreement” in such Sections shall be deemed to be references to this Guaranty. 

  
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 (b) All payments made hereunder shall be applied upon receipt as set forth in
Section 8.03 of the Credit Agreement 
 SECTION 2.8. Keepwell. Each Loan Party that is, at the time this Guaranty or the grant
of a security interest under each applicable Loan Document becomes effective with respect to any Swap Obligation, a Qualified ECP Guarantor hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such funds or
other support to each other Loan Party that is not at the time this Guaranty or the grant of a security interest under the Loan Documents becomes effective with respect to such Swap Obligation an “eligible contract participant” within the
meaning of the Commodity Exchange Act and the regulations thereunder (a “Non-ECP Loan Party”), with respect to such Swap Obligation as may be needed by such Non-ECP Loan Party from time to time to honor all of its credit support
obligations under this Guaranty and each other Loan Document in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby incurred without rendering such Qualified ECP Guarantor’s
obligations and undertakings in this Section 2.8 voidable under applicable Debtor Relief Laws, and not for any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Section 2.8 shall remain in full
force and effect until the Obligations have been indefeasibly paid and performed in full. Each Loan Party intends this Section 2.8 to constitute, and this Section 2.8 shall be deemed to constitute, a “keepwell, support, or other
agreement” for the benefit of each Non-ECP Loan Party for all purposes of the Commodity Exchange Act. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

SECTION 3.1. Representations. In order to induce the Lenders to enter into the Credit Agreement and make Loans thereunder and the L/C.
Issuer to enter into the Credit Agreement and issue Letters of Credit thereunder, each Guarantor represents and warrants to each Lender as set forth below. 

(a) The representations and warranties contained in Article V of the Credit Agreement, insofar as the representations
and warranties contained therein are applicable to any Guarantor and its properties, are true and correct in all material respects, each such representation and warranty set forth in such Article (insofar as applicable as aforesaid) and all other
terms of the Credit Agreement to which reference is made therein, together with all related definitions and ancillary provisions, being hereby incorporated into this Guaranty by reference as though specifically set forth in this Article. 

(b) Each Guarantor has knowledge of each other Loan Party’s financial condition and affairs and has adequate means to
obtain from each such Loan Party on an ongoing basis information relating thereto and to such Loan Party’s ability to pay and perform the Obligations, and agrees to assume the responsibility for keeping, and to keep, so informed for so long as
this Guaranty is in effect. Each Guarantor acknowledges and agrees that the holders of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations) shall have no obligation to investigate the financial condition or
affairs of any Loan Party for the benefit of such Guarantor nor to advise such Guarantor of any fact respecting, or any change in, the financial condition or affairs of 

  
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any Loan Party that might become known to any holder of the Obligations (or to the Administrative Agent) at any time, whether or not such holder of the Obligations (or the Administrative Agent)
knows or believes or has reason to know or believe that any such fact or change is unknown to such Guarantor, or might (or does) materially increase the risk of such Guarantor as guarantor, or might (or would) affect the willingness of such
Guarantor to continue as a guarantor of the Obligations. 
 (c) It is in the best interests of each Guarantor to execute this
Guaranty inasmuch as such Guarantor will, as a result of being a Subsidiary of the Borrower, derive substantial direct and indirect benefits from the Loans made and the Letters of Credit issued from time to time to the Borrower or its Subsidiaries
by the holders of the Obligations pursuant to the Credit Agreement, and each Guarantor agrees that the Lenders and the L/C Issuer are relying on this representation in agreeing to make Loans to the Borrower and/or issue Letters of Credit for the
account of the Borrower or its Subsidiaries, as applicable. 
 ARTICLE IV 

COVENANTS, ETC. 
 SECTION 4.1.
Covenants. Each Guarantor covenants and agrees that, at all times prior to the Termination Date, it will perform, comply with and be bound by all of the agreements, covenants and obligations contained in the Credit Agreement (including
Article VI and VII and Sections 8.01(f) and (g) of the Credit Agreement) which are applicable to such Guarantor or its properties, each such agreement, covenant and obligation contained in the Credit Agreement and all other terms of the Credit
Agreement to which reference is made in this Article, together with all related definitions and ancillary provisions, being hereby incorporated into this Guaranty by this reference as though specifically set forth in this Article. 

ARTICLE V 
 MISCELLANEOUS
PROVISIONS 
 SECTION 5.1. Loan Document. This Guaranty is a Loan Document executed pursuant to the Credit Agreement and shall
(unless otherwise expressly indicated herein) be construed, administered and applied in accordance with the terms and provisions thereof, including Article X thereof. To the extent of any conflict between the terms contained in this Guaranty
and the terms contained in the Credit Agreement, the terms of the Credit Agreement shall control. 
 SECTION 5.2. Binding on Successors,
Transferees and Assigns; Assignment. This Guaranty shall remain in full force and effect until the Termination Date has occurred, shall be jointly and severally binding upon each Guarantor and its successors, transferees and assigns and shall
inure to the benefit of and be enforceable by the Administrative Agent on behalf of the holders of the Obligations and its successors, transferees and assigns; provided that no Guarantor may (unless otherwise permitted under the terms of the
Credit Agreement) assign any of its obligations hereunder without the prior written consent of all Lenders. 
 SECTION 5.3. Amendments,
etc. No amendment to or waiver of any provision of this Guaranty, nor consent to any departure by any Guarantor from its obligations under this 

  
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Guaranty, shall in any event be effective unless the same shall be in writing and signed by the Administrative Agent (on behalf of the Lenders or the Required Lenders, as the case may be,
pursuant to Section 10.01 of the Credit Agreement) and, in the case of any amendment, the Guarantors, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. 

SECTION 5.4. Notices. All notices and other communications provided for hereunder shall be in writing or by facsimile and addressed,
delivered or transmitted to the appropriate party at the address or facsimile number of such party (in the case of any Guarantor, in care of the Borrower) specified in the Credit Agreement or at such other address or facsimile number as may be
designated by such party in a notice to the other party. Any notice, if mailed and properly addressed with postage prepaid or if properly addressed and sent by pre-paid courier service, shall be deemed given when received; any such notice, if
transmitted by facsimile, shall be deemed given when the confirmation of transmission thereof is received by the transmitter. 
 SECTION
5.5. Additional Guarantors. Upon the execution and delivery by any other Person of a supplement in the form of Annex I hereto, such Person shall become a “Guarantor” hereunder with the same force and effect as if it were
originally a party to this Guaranty and named as a “Guarantor” hereunder. The execution and delivery of such supplement shall not require the consent of any other Guarantor hereunder, and the rights and obligations of each Guarantor
hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor as a party to this Guaranty. 
 SECTION
5.6. Termination of Agreement; Release of Guarantor. Upon the occurrence of the Termination Date, this Guaranty and all obligations of each Guarantor hereunder shall terminate automatically, without delivery of any instrument or performance
of any act by any party. A Guarantor shall automatically be released from its obligations hereunder upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Guarantor ceases to be an Eligible Subsidiary
described in clause (a) of the definition thereof of the Borrower. 
 SECTION 5.7. No Waiver; Remedies. In addition to, and not
in limitation of, Section 2.3 and 2.5, no failure on the part of any holder of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations) to exercise, and no delay in exercising, any right hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of
any remedies provided by law. 
 SECTION 5.8. Section Captions. Section captions used in this Guaranty are for convenience of
reference only, and shall not affect the construction of this Guaranty. 
 SECTION 5.9. Severability. If any provision of this
Guaranty or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Guaranty and the other Loan Documents shall not be affected or impaired
thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic 

  
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effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 5.9, if and to the extent that the enforceability of any provisions in this Guaranty relating to Defaulting Lenders shall
be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, then such provisions shall be deemed to be in effect only to the extent not so limited. 

SECTION 5.10. Governing Law; Jurisdiction; Etc. 

(a) GOVERNING LAW. THIS GUARANTY AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR
OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) SUBMISSION TO JURISDICTION. EACH GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY
ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS
GUARANTY OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK,
AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE
HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. EACH GUARANTOR IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER 

  
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HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH
OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES
IN SECTION 10.02 OF THE CREDIT AGREEMENT. EACH FOREIGN OBLIGOR HEREBY IRREVOCABLY APPOINTS THE COMPANY, AS ITS AUTHORIZED AGENT TO RECEIVE ON ITS BEHALF SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDINGS IN ANY SUCH COURT AND CONSENTS TO THE
SERVICE OF PROCESS OUT OF ANY SUCH COURTS BY MAILING A COPY THEREOF, BY REGISTERED MAIL, POSTAGE PREPAID, TO SUCH AGENT AT SUCH ADDRESS, AND AGREES THAT SUCH SERVICE, TO THE FULLEST EXTENT PERMITTED BY LAW: (I) SHALL BE DEEMED IN EVERY RESPECT
EFFECTIVE SERVICE OF PROCESS UPON IT IN ANY SUCH SUIT, ACTION OR PROCEEDING; AND (II) SHALL BE TAKEN AND HELD TO BE VALID PERSONAL SERVICE UPON AND PERSONAL DELIVERY TO IT. IF ANY AGENT APPOINTED BY ANY PERSON PARTY HERETO REFUSES TO ACCEPT SERVICE,
SUCH PERSON HEREBY AGREES THAT SERVICE UPON IT BY MAIL SHALL UPON RECEIPT CONSTITUTE SUFFICIENT NOTICE. NOTHING HEREIN CONTAINED SHALL AFFECT THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT OF ANY OTHER
PERSON PARTY HERETO TO BRING PROCEEDINGS AGAINST SUCH PARTY IN THE COURTS OF ANY OTHER JURISDICTION. 
 SECTION 5.11. Waiver of Jury
Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS GUARANTY AND THE OTHER
LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 5.12. California Judicial
Reference. If any action or proceeding is filed in a court of the State of California by or against any party hereto in connection with any of the 

  
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transactions contemplated by this Guaranty or any other Loan Document, (a) the court shall, and is hereby directed to, make a general reference pursuant to California Code of Civil Procedure
§ 638 to a referee (who shall be a single active or retired judge) to hear and determine all of the issues in such action or proceeding (whether of fact or of Law) and to report a statement of decision, provided that at the option of any
party to such proceeding, any such issues pertaining to a “provisional remedy” as defined in California Code of Civil Procedure section 1281.8 shall be heard and determined by the court; and (b) without limiting the generality of
Section 10.04 of the Credit Agreement, the Guarantors, jointly and severally, shall be solely responsible to pay all fees and expenses of any referee appointed in such action or proceeding. 

SECTION 5.13. Counterparts. This Guaranty may be executed by the parties hereto in several counterparts, each of which shall be deemed
to be an original and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of a signature page to this Guaranty by facsimile or via other electronic means shall be effective as delivery of a
manually executed counterpart of this Guaranty. 
 SECTION 5.14. ENTIRE AGREEMENT. THIS GUARANTY AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

  
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 IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be duly executed and delivered by
its Responsible Officer as of the date first above written. 
  

			
	 MOBILE MODULAR MANAGEMENT CORPORATION,

a California corporation

	
	By: /s/ Keith E. Pratt
	Name:	 	Keith E. Pratt
	Title:	 	Chief Financial Officer
	
	 ENVIROPLEX, INC.,
 a California
corporation

	
	By: /s/ Keith E. Pratt
	Name:	 	Keith E. Pratt
	Title:	 	Chief Financial Officer
	
	 ADLER TANK RENTALS, LLC,
 a Delaware
limited liability company

	
	By: /s/ Keith E. Pratt
	Name:	 	Keith E. Pratt
	Title:	 	Chief Financial Officer

 ACCEPTED AND AGREED FOR ITSELF 

AND ON BEHALF OF THE LENDERS: 
  

			
	 BANK OF AMERICA, N.A.,
 as
Administrative Agent

	
	By: /s/ Rosanne Parsill
	Name:	 	Rosanne Parsill
	Title:	 	Vice President

  

 ANNEX I 

Form of Additional Guarantors’ Supplement 

GUARANTY SUPPLEMENT 

THIS GUARANTY SUPPLEMENT, dated as of
                             , 20         (this
“Supplement”), is to the Guaranty, dated as of March 31, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”), among the Guarantors (such capitalized term, and other
terms used in this Supplement, to have the meanings set forth in Article I of the Guaranty) from time to time party thereto, in favor of BANK OF AMERICA, N.A., as administrative agent (together with its successor(s) thereto in such
capacity, the “Administrative Agent”) for each of the Lenders. 
 W I T N E S S E T H: 

WHEREAS, pursuant to the provisions of Section 5.5 of the Guaranty, each of the undersigned is becoming a Guarantor under the Guaranty;
and 
 WHEREAS, each of the undersigned desires to become a “Guarantor” under the Guaranty in order to induce the Lenders to
continue to extend Loans and the L/C issuer to continue to issue Letters of Credit under the Credit Agreement; 
 NOW, THEREFORE, in
consideration of the premises, and for other consideration (the receipt and sufficiency of which is hereby acknowledged), each of the undersigned agrees, for the benefit of each Lender, as follows. 

SECTION 1. Party to Guaranty, etc. In accordance with the terms of the Guaranty, by its signature below, each of the undersigned hereby
irrevocably agrees to become a Guarantor under the Guaranty with the same force and effect as if it were an original signatory thereto and each of the undersigned hereby (a) agrees to be bound by and comply with all of the terms and provisions
of the Guaranty applicable to it as a Guarantor and (b) represents and warrants that the representations and warranties made by it as a Guarantor thereunder are true and correct as of the date hereof. In furtherance of the foregoing, each
reference to a “Guarantor” and/or “Guarantors” in the Guaranty shall be deemed to include each of the undersigned. 

SECTION 2. Waiver, Agreements, etc. Each of the undersigned hereby waives promptness, diligence, notice of acceptance and any other
notice with respect to any of the Obligations, this Supplement and the Guaranty and any requirement that any holder of the Obligations (or the Administrative Agent on behalf of the holders of the Obligations) protect, secure, perfect or insure any
Lien, or any property subject thereto, or exhaust any right or take any action against any Loan Party or any other Person (including any other Guarantor) or entity or any Collateral securing the Obligations, as the case may be. Each of the
undersigned waives any rights and defenses that are or may become available to such Person by reason of §§ 2787 to 2855, inclusive, and §§ 2899 and 3433 of the California Civil Code. As provided below, this Supplement shall be
governed by, and construed in accordance with, the Laws of the State of 

  
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New York. The foregoing waivers and the provisions hereinafter set forth in this Supplement and the Guaranty which pertain to California Law are included solely out of an abundance of caution,
and shall not be construed to mean that any of the above-referenced provisions of California Law are in any way applicable to this Supplement, the Guaranty or the Obligations. 

SECTION 3. Representations. Each of the undersigned hereby represents and warrants that this Supplement has been duly authorized,
executed and delivered by it and that this Supplement and the Guaranty constitute the legal, valid and binding obligation of each of the undersigned, enforceable against it in accordance with its terms. 

SECTION 4. Full Force of Guaranty. Except as expressly supplemented hereby, the Guaranty shall remain in full force and effect in
accordance with its terms. 
 SECTION 5. Severability. If any provision of this Supplement or the other Loan Documents is held to be
illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Supplement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in
good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a
provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION 6.
Indemnity; Fees and Expenses, etc. Without limiting the provisions of any other Loan Document, each of the undersigned agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses incurred in connection with this
Supplement, including reasonable attorney’s fees and expenses of the Administrative Agent’s counsel. 
 SECTION 7. Governing
Law, Entire Agreement, etc. THIS SUPPLEMENT WILL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK. 

SECTION 8. California Judicial Reference. If any action or proceeding is filed in a court of the State of California by or against any
party hereto in connection with any of the transactions contemplated by this Supplement, the Guaranty or any other Loan Document, (a) the court shall, and is hereby directed to, make a general reference pursuant to California Code of Civil
Procedure § 638 to a referee (who shall be a single active or retired judge) to hear and determine all of the issues in such action or proceeding (whether of fact or of Law) and to report a statement of decision, provided that at the option of
any party to such proceeding, any such issues pertaining to a “provisional remedy” as defined in California Code of Civil Procedure section 1281.8 shall be heard and determined by the court; and (b) without limiting the generality of
Section 10.04 of the Credit Agreement, the Guarantors (including the undersigned), jointly and severally, shall be solely responsible to pay all fees and expenses of any referee appointed in such action or proceeding. 

SECTION 9. Counterparts. This Supplement may be executed by the parties hereto in several counterparts, each of which shall be deemed
to be an original and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of a signature page to this Guaranty by facsimile or via other electronic means shall be effective as delivery of a
manually executed counterpart of this Guaranty. 

  
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 SECTION 10. ENTIRE AGREEMENT. THIS GUARANTY AND THE OTHER LOAN DOCUMENTS REPRESENT THE
FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

[the remainder of this page is intentionally blank] 

  
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 IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be duly executed and
delivered by its Responsible Officer as of the date first above written. 
  

			
	[NAME OF ADDITIONAL MATERIAL SUBSIDIARY THAT IS A DOMESTIC SUBSIDIARY]
		
	By:	 	 
	Name:	 	
	Title:	 	

 ACCEPTED AND AGREED FOR ITSELF 

AND ON BEHALF OF THE LENDERS: 
  

			
	 BANK OF AMERICA, N.A.,

as Administrative Agent

		
	By:	 	 
	Name:	 	
	Title:	 	

  
 A - 4EX-10.3

 Exhibit 10.3 

FACILITY LETTER - Execution Version 
 March 31, 2016

 Mr. Keith E. Pratt 
 Senior Vice President and

 Chief Financial Officer 
 McGrath RentCorp 

5700 Las Positas Road 
 Livermore, CA 94551 

 

	Re:	$12,000,000.00 Committed Credit Facility 

 Dear Mr. Pratt: 

MUFG Union Bank, N.A. (“Bank”) is pleased to offer McGrath RentCorp, a California corporation (“Borrower”) a committed credit facility
(“Facility”) under which the Bank will make advances to the Borrower from time to time up to and including March 31, 2021, not to exceed at any time the maximum principal amount of Twelve Million Dollars ($12,000,000.00), to be
governed by the terms of the enclosed Credit Line Note (“Credit Line Note”) in favor of Bank, and subject to the conditions and agreements set forth below. 

1. This Facility is made available only in connection with Borrower’s use of the Bank’s sweep service for management of its checking account
balances (“Sweep Service”). Therefore, this Facility shall commence on the date (“Effective Date”) of this letter and this Facility shall terminate, if not earlier terminated, on the date Borrower ceases to continue as a Sweep
Service customer. Upon such termination Bank shall have no further obligation to fund advances under this Facility, and all amounts owing under the Credit Line Note shall become immediately due and payable. 

2. As provided in the Credit Line Note, the occurrence of an Event of Default under the Multibank Agreement shall be a default under this Facility. The
term “Multibank Agreement” as used herein means that certain Credit Agreement dated as of March 31, 2016, by and among Borrower, Bank, Bank of America, N.A., Wells Fargo Bank, N.A., U.S. Bank National Association, Citibank, N.A. and
BB&T, as amended, restated, supplemented or otherwise modified from time to time in accordance with the provisions thereof. Each capitalized term not otherwise defined herein shall have the meaning set forth in the Multibank Agreement. 

3. In the event the Multibank Agreement terminates or expires prior to the termination or expiration of this Facility, the provisions of Articles VI
and VII thereof (excluding Section 6.12) shall nevertheless survive as between Borrower and Bank with respect to this Facility and shall continue in effect (as in effect on the date of such termination or expiration) until this Facility
terminates or expires. 
 4. Borrower acknowledges that any amount outstanding under the Credit Line Note is included within the definition of
“Indebtedness” under the Multibank Agreement. 
 5. Borrower shall pay to Bank a non-refundable commitment fee for this Facility, on the
average unused amount of the Facility during such period, for the period of time during which this Facility is available. Such fee shall be payable in arrears in quarterly installments on the last day of each March, June, September, and December,
and on the last day this Facility is 

 McGrath Rentcorp 

 Page
 2
 
  

 
available, to be computed at the rate per annum equal to (i) 0.30% if the Consolidated Leverage Ratio is greater than 2.25:1.00, (ii) 0.25% if the Consolidated Leverage Ratio is
less than or equal to 2.25:1.00 but greater than 1.75:1.00, (iii) 0.20% if the Consolidated Leverage Ratio is less than or equal to 1.75:1.00 but greater than 1.25:1.00, and (iv) 0.15% if the Consolidated Leverage Ratio is less than or
equal to 1.25:1.00. The commitment fee shall be computed on a basis of a 360-day year and actual days elapsed. 
 6. This Facility letter will be
governed by the laws of the State of California. 
 Enclosed are the original Credit Line Note, a copy of this Facility letter, an Authorization to Obtain
Credit, Grant Security, Guarantee or Subordinate and an Authorization to Disburse, which together with any other contract, instrument or document Bank requires to be executed and delivered in connection with this Facility are the “Loan
Documents” (and each is a “Loan Document”). The Borrower’s execution of the Loan Documents and return of them to Bank together with an appropriate corporate resolution and incumbency certificate acceptable to Bank constitutes its
agreement to the terms and conditions of this Facility. 
 To the extent permitted by law, in connection with any claim, cause of action, proceeding or
other dispute concerning the loan documents (each a “Claim”), the parties to this Facility letter expressly, intentionally, and deliberately waive any right each may otherwise have to trial by jury. In the event that the waiver of jury
trial set forth in the previous sentence is not enforceable under the law applicable to this Facility letter, the parties to this Facility letter agree that any Claim, including any question of law or fact relating thereto, shall, at the written
request of any party, be determined by judicial reference pursuant to the state law applicable to this Facility letter. The parties shall select a single neutral referee, who shall be a retired state or federal judge. In the event that the parties
cannot agree upon a referee, the court shall appoint the referee. The referee shall report a statement of decision to the court. Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose
against collateral or obtain provisional remedies. The parties shall bear the fees and expenses of the referee equally, unless the referee orders otherwise. The referee shall also determine all issues relating to the applicability, interpretation,
and enforceability of this paragraph. The parties acknowledge that if a referee is selected to determine the Claims, then the Claims will not be decided by a jury. 

This offer expires on April 15, 2016 unless the executed Loan Documents and the corporate resolution and incumbency certificate are returned to the Bank
by then. If the Effective Date has not occurred by April 15, 2016 this Facility letter and the Credit Line Note shall terminate and be of no further force and effect on such date. 

We look forward to continuing to serve you. 
  

			
	Yours truly,
	
	MUFG UNION BANK, N. A.
		
	By:	 	/s/ Henry G. Montgomery III
		 	Henry G. Montgomery III
		 	Director

 McGrath Rentcorp 

 Page
 3
 
  

			
	Accepted And Agreed as of March 31, 2016:
	
	MCGRATH RENTCORP, a
	California Corporation
		
	By:	 	/s/ Keith E. Pratt
		 	Keith E. Pratt
		 	Senior Vice President and
		 	Chief Financial Officer

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