Document:

Swap Transaction Confirmation

 Exhibit 10.9 — Swap Transaction Confirmation (Class A-4b Notes) 
  

			
	

	  	SWAP TRANSACTION CONFIRMATION

  

			
	Date:	  	July 03, 2008
		
	To:	  	CarMax Auto Owner Trust 2008-2 (the “Trust” or “Counterparty”)
		  	c/o The Bank of New York
		  	101 Barclay Street, 8W
		  	New York, New York 10286
		
	Fax:	  	212-815-3986
		
	Attention:	  	Corporate Trust Division, Asset Back Securities Group
		
	From:	  	Wachovia Bank, National Association (“Wachovia”)
		
	Ref. No.	  	2610861

 Dear Sir or Madam: 
 The purpose of this letter (this “Confirmation”) is to confirm the terms and conditions of the Transaction entered into between us on the Trade Date specified below (the “Transaction”). This Confirmation constitutes a
“Confirmation” as referred to in the ISDA Master Agreement specified below. 
 1. The definitions and provisions contained in (i) the 2006
ISDA Definitions (the “ISDA Definitions”), as published by the International Swaps and Derivatives Association, Inc., and (ii) the Indenture dated as of July 01, 2008 (the “Indenture”) between Counterparty and Wells
Fargo Bank, National Association, as Indenture Trustee relating to the issuance by Counterparty of certain debt obligations, are incorporated into this Confirmation. In the event of any inconsistency between the definitions in the ISDA Definitions
and this Confirmation, this Confirmation will govern. In the event of any inconsistency between the definitions in the ISDA Definitions and the Indenture, the Indenture will govern. References herein to a “Transaction” shall be deemed to
be references to a “Swap Transaction” for purposes of the ISDA Definitions. Capitalized terms used but not defined herein have the meanings ascribed to them in the Indenture. 
 This Confirmation supplements, forms a part of, and is subject to, the 1992 ISDA Master Agreement dated as of July 03, 2008 (including the Schedule thereto) as amended and supplemented from time to time (the
“ISDA Master Agreement”) between you and us. All provisions contained in the ISDA Master Agreement govern this Confirmation except as expressly modified herein. 

 2. The terms of the particular Transaction to which the Confirmation relates are as follows: 
  

			
	Transaction Type:	  	Interest Rate Swap
		
	Currency for Payments:	  	U.S. Dollars
		
	Notional Amount:	  	 For the purpose of the initial Calculation Period, the Notional Amount will be equal to the outstanding principal balance of the Class A-4b Notes as
of the Closing Date. The Notional Amount for each Calculation Period thereafter shall reset on each Period End Date and will at all times be equal to the outstanding principal balance of the Class A-4b Notes.
  
 With respect to any Period End Date, the outstanding balance of the A- 4b Notes will be determined
using the Servicer’s Certificate issued with respect to the corresponding Distribution Date (after giving effect to all distributions made on such Distribution Date).

		
	Term:	  	
		
	 Trade Date:
	  	June 27, 2008
		
	 Effective Date:
	  	July 03, 2008
		
	 Termination Date:
	  	The earlier of (i) the August 15, 2013 Distribution Date and (ii) the date on which the Note Balance of the Class A-4b Notes is reduced to zero.
		
	Fixed Amounts:	  	
		
	 Fixed Rate Payer:
	  	Counterparty
		
	 Period End Dates:
	  	Monthly on the 15th of each month commencing August 15, 2008, through and including the Termination Date; No Adjustment.
		
	 Payment Dates:
	  	Monthly on the 15th of each month commencing August 15, 2008, through and including the Termination Date
		
	 Business Day Convention:
	  	Following
		
	 Business Day:
	  	New York
		
	 Fixed Rate:
	  	3.955%
		
	 Fixed Rate Day Count
 Fraction:
	  	30/360
		
	Floating Amounts:	  	
		
	 Floating Rate Payer:
	  	Wachovia
		
	 Period End Dates:
	  	Monthly on the 15th of each month commencing August 15, 2008, through and including the Termination Date, subject to adjustment in accordance with the Following Business Day
Convention.
		
	 Payment Dates:
	  	Monthly on the 15th of each month commencing August 15, 2008, through and including the Termination Date
		
	 Business Day Convention:
	  	Following
		
	 Floating Rate for initial
 Calculation Period:
	  	2.53206%
		
	 Business Day:
	  	New York
		
	 Floating Rate Option:
	  	USD-LIBOR-BBA
		
	 Designated Maturity:
	  	1 Month

 Wachovia: 2610861 
  

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	 Spread:
	  	None
		
	 Floating Rate Day Count
 Fraction:
	  	Actual/360
		
	 Reset Dates:
	  	The first day of each Calculation Period.
		
	 Compounding:
	  	Inapplicable
	
	3. The additional provisions of this Confirmation are as follows:
		
	Calculation Agent:	  	As defined in the ISDA Master Agreement
		
	Payments to Wachovia:	  	Wachovia Bank, N.A./Charlotte
		  	ABA 053-000-219
		  	Account #: 04659360006116
		  	FAO: Capital Markets Group
		  	Ref: Derivative Desk (Trade No.: 2610861)
		
	Payments to Counterparty:	  	Wells Fargo Bank, N.A.
		  	ABA: 121000248
		  	Acct: 0001038377
		  	Acct Name: Wells Fargo Corporate Trust
		  	For further credit: Acct #22971901 CarMax 08-2 Collection Acct
		  	Attn: Jason Miller 612-667-0549

 4. It is expressly understood and agreed by the parties hereto that (i) this Confirmation is executed and
delivered by the Owner Trustee not individually or personally but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein
made on the part of the Trust is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Trust, (iii) nothing herein contained shall be
construed as creating any liability on the part of the Owner Trustee, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by
any Person claiming by, through or under the parties hereto and (iv) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any
obligation, representation, warranty or covenant made or undertaken by the Trust under this Confirmation. 
 Wachovia: 2610861 
  

 3 / 4 

 Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this
Confirmation and returning it to us. 
  

			
	Very truly yours,
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Robin Rhodes

	Name:	 	Robin Rhodes
	Title:	 	Assistant Vice President

 Accepted and confirmed as of the date first above written: 
  

			
	CARMAX AUTO OWNER TRUST 2008-2
	
	 By: The Bank of New York,
 not in its
individual capacity, but solely as Owner Trustee

		
	By:	 	 /s/ Henry Baez

	Name:	 	Henry Baez
	Title	 	Assistant Treasurer

 Wachovia: 2610861 
  

 4 / 4Amendment No. 3 to Second Amended and Restated Credit Agreement

 Exhibit 10.1 
 AMENDMENT NO. 3 TO SECOND AMENDED AND RESTATED 
 CREDIT AGREEMENT AND AMENDMENT TO
REVOLVING CREDIT NOTE 
 THIS AMENDMENT, dated as of June 30, 2008, by and between Manitex International, Inc., a Michigan
corporation formerly known as Veri-Tek International, Corp., and Manitex Inc., a Texas corporation (the “Companies”, and individually a “Company”), and Comerica Bank, a Texas banking association, of Detroit, Michigan
(“Bank”). 
 WITNESSETH: 
 WHEREAS, Companies and Bank entered into that certain Second Amended and Restated Credit Agreement dated April 11, 2007 (the “Agreement”); and 
 WHEREAS, Companies and Bank wish to amend the Agreement and the Revolving Credit Note issued pursuant to the Agreement; 
 NOW, THEREFORE, Companies and Bank agree as follows: 
 1. The definition of “Revolving Credit Maturity Date” is amended by deleting the date April 1, 2009 where it appears therein and replacing it with the date April 1, 2010. 
 2. The definition of “Revolving Credit Maximum Amount” is amended by deleting the figure Eighteen Million Five Hundred Thousand Dollars
($18,500,000) and replacing it with the figure Twenty Million Five Hundred Thousand Dollars ($20,500,000). 
 3. The definition of
“Overformula Amount” is amended to read as follows: 
 “Overformula Amount” shall mean $1,500,000. On each of July 1,
2008, October 1, 2008 and January 1, 2009, the Overformula Amount shall decrease by $500,000. 
 4. The definition of
“Borrowing Base” is amended to read as follows: 
 “Borrowing Base” shall mean, as of any determination, the sum of
(a) eighty-five percent (85%) of Eligible Accounts, plus (b) eighty-five percent (85%) of Eligible Canadian Accounts, plus (c) the lesser of (i) sixty-five percent (65%) of Eligible Inventory and
(ii) $8,000,000, plus (d) the Overformula Amount. 
 5. The definition of “Tangible Effective Net Worth” is amended to
read as follows: 
 “Tangible Effective Net Worth” shall mean, as of any date of determination, the sum of Consolidated Net Worth
(excluding accounts receivable and accounts payable owing by or to Affiliates and all other amounts owing to Holdings or any Subsidiary by officers, directors, shareholders and other Affiliates and all patents, patent rights, trademarks, 

 
trade names, franchises, copyrights, licenses, goodwill and all other intangible assets of Holdings and its Subsidiaries at such date), plus all Subordinated
Debt as of such date, all as determined in accordance with GAAP; provided, however, that Tangible Effective Net Worth shall be determined without regard to other comprehensive income (loss) in connection with currency transactions.

 6. Section 1 of the Agreement (Definitions) is amended by adding the following definitions in their appropriate alphabetical order:

 “Debt Service Coverage Ratio” shall mean as of the end of any fiscal quarter of Holdings, a ratio, the numerator of which is the
Consolidated net income of Holdings and its Subsidiaries for the four fiscal quarters then ending, plus, to the extent deducted in the computation of such Consolidated net income, depreciation and amortization expense, income tax expense and
interest expense of Holdings and its Subsidiaries for such period, and the denominator of which is the aggregate amount of all payments of principal and interest due and payable during such period with respect to non-subordinated Funded Debt of
Holdings and its Subsidiaries, all as determined in accordance with GAAP. 
 “Funded Debt” shall mean, as of any date of
determination, the sum, without duplication, of (a) all indebtedness of Holdings and its Subsidiaries for borrowed money or for the deferred purchase price of property or services as of such date (other than trade liabilities incurred in the
ordinary course of business and payable in accordance with customary practices) or which is evidenced by a note, bond, debenture or similar instrument, (b) all obligations of Holdings and its Subsidiaries under capitalized leases as of such
date, (c) all obligations of Holdings and its Subsidiaries in respect of letters of credit, acceptances or similar obligations issued or created for the account of Holdings and its Subsidiaries as of such date, (d) all liabilities
(excluding trade liabilities referred to in sub-section (a) of this definition) secured by any lien on any property owned by Holdings and its Subsidiaries as of such date even though neither Holdings nor any Subsidiary has assumed or otherwise
become liable for the payment thereof, and (e) all Guarantee Obligations of Holdings and its Subsidiaries as of such date, in each case determined in accordance with GAAP. 
 “Guarantee Obligation” shall mean as to any person (the “guaranteeing person”) (a) any obligation of the guaranteeing person or
(b) any obligation of another person (including, without limitation, any bank under any letter of credit), the creation of which was induced by a reimbursement, counter indemnity or similar obligation issued by the guaranteeing person, in
either case guaranteeing or in effect guaranteeing any Debt, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any 

  

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manner, whether directly or indirectly, including, without limitation, any obligation of the guaranteeing person, whether or not contingent, (i) to
purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working capital
or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary
obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term
Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount
equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument
embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such
guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Holdings in good faith. 
 7.
Section 8.11 of the Agreement is amended to read in its entirety as follows: 
 8.11 (a) Maintain, as of the last
day of each fiscal quarter ending during the periods specified below, Tangible Effective Net Worth of not less than the following: 
  

			
	 Date(s)
	  	Tangible Effective
Net Worth
	 At 06/30/08
	  	($10,000,000)
	 At 09/30/08
	  	($9,000,000)
	 12/31/08 through 06/29/09
	  	($7,000,000)
	 06/30/09 through 12/30/09
	  	($6,000,000)
	 12/31/09 through 06/29/10
	  	($4,000,000)
	 06/30/10 and at each fiscal quarter-end thereafter
	  	($2,000,000)

 (b) Maintain, as of the last day of each fiscal quarter, commencing June 30,
2008, a Debt Service Coverage Ratio of not less than 1.2 to 1.0. 
 8. The Revolving Credit Note is amended so that the face amount thereof
is $20,500,000. 
  

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 9. Exhibit C to the Agreement (Compliance Report) is deleted and replaced with Exhibit C attached hereto.

 10. This Amendment may be executed in counterparts, of which this is one, all of which shall constitute one and the same instrument.

 11. Except as modified hereby, all of the terms and conditions of the Agreement shall remain in full force and effect. Capitalized terms
used but not defined herein shall have the meanings given them in the Agreement. 
 12. Each Company hereby represents and warrants that,
after giving effect to the amendment contained herein, (a) execution, delivery and performance of this Amendment and any other documents and instruments required under this Amendment or the Agreement are within such Company’s corporate
powers, have been duly authorized, are not in contravention of law or the terms of such Company’s Articles of Incorporation or Bylaws, and do not require the consent or approval of any governmental body, agency, or authority; and this Amendment
and any other documents and instruments required under this Amendment or the Agreement, will be valid and binding in accordance with their terms; (b) the continuing representations and warranties of such Company set forth in Sections 7.1
through 7.15 of the Agreement are true and correct on and as of the date hereof with the same force and effect as if made on and as of the date hereof; (c) no Default or Event of Default has occurred and is continuing as of the date hereof.

 13. This Amendment shall be effective upon execution by Companies and Bank. 
 WITNESS the due execution hereof as of the day and year first above written. 
  

									
	BANK:	 		 	COMPANIES:
			
	COMERICA BANK	 		 	MANITEX INTERNATIONAL, INC.
					
	By:	 	/s/ Michael Bourke	 		 	By:	 	/s/ David H. Gransee
	Its:	 	 	 		 	Its:	 	Vice President & CFO
				
		 		 		 	MANITEX, INC.
					
		 		 		 	By:	 	/s/ David H. Gransee
		 		 		 	Its:	 	Vice President & CFO

  

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 EXHIBIT “C” 
 COMPLIANCE REPORT 
  

	To:	Comerica Bank 

  

	Re:	Manitex International, Inc. and Manitex Inc. Second Amended and Restated Credit Agreement dated as of April 11, 2007 (“Credit Agreement”) 

 This Compliance Report (“Report”) is furnished pursuant to Section 8.10 of the Credit Agreement and sets forth various information as of
______________, 200_ (the “Computation Date”). 
 1. Tangible Effective Net Worth. On the Computation Date, Tangible
Effective Net Worth, which is required to be not less than $                    , was
$            , as computed in the supporting documents attached hereto as Schedule 1. 
 2. Debt Service Coverage Ratio. On the Computation Date, the Debt Service Coverage Ratio, which is required to be not less than 1.2 to 1.0 was _____ to 1.0, as computed in the supporting documents attached
hereto as Schedule 2. 
 The undersigned officer hereby certifies that to the best of his knowledge, after due inquiry: 
 A. All of the information set forth in this Report (and in any Schedule attached hereto) is true and correct in all material respects. 
 B. As of the Computation Date, the Companies have observed and performed all of its covenants and other agreements contained in the Credit Agreement.

 C. I have personally reviewed the Credit Agreement and this Report is based on an examination sufficient to assure that this Report is
accurate. 
 D. Except as stated as Schedule 3 hereto (which shall describe any existing Event of Default or event which with the passage of
time and/or the giving of notice, would constitute an Event of Default and the notice and period of existence thereof and any action taken with respect thereto or contemplated to be taken by Companies), no Event of Default, or event which with the
passage of time and/or the giving of notice would constitute an Event of Default, has occurred and is continuing on the date of this Report. 
 Capitalized terms used in this Report and in the schedules hereto, unless specifically defined to the contrary, have the meanings given to them in the Credit Agreement. 

 IN WITNESS WHEREOF, Holdings has caused this Report to be executed and delivered by its duly authorized
officer this ______ day of ______________, 200_. 
  

			
	MANITEX INTERNATIONAL, INC.
		
	By:	 	 
	Its:	 	 

  

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