Document:

Exhibit 4.1

Exhibit 4.1

DIGITILITI, INC.

CERTIFICATE OF DESIGNATION

OF THE

RELATIVE RIGHTS, RESTRICTIONS AND PREFERENCES

OF

SERIES A CONVERTIBLE PREFERRED STOCK

Pursuant to Section 151 of the

General Corporation Law of the State of Delaware

The undersigned, as the CEO and President of Digitiliti, Inc., a Delaware corporation (the “Company”), hereby
certifies that on the 29th day of June, 2010, the following resolutions were adopted by the Board of
Directors of the Company for the purpose of establishing and designating a class of the Company’s stock as Series “A”
Convertible Preferred Stock.

RESOLVED, that pursuant to the authority granted to and vested in the Board of Directors by the laws of the
State of Delaware and the Company’s Certificate of Incorporation, as amended, the Board of Directors hereby
establishes that an additional One Million Two Hundred Thousand (1,200,000) shares of the Company’s authorized
but unissued undesignated shares, no par value, shall be designated as Series A Convertible Preferred Stock,
whereby the aggregate number of authorized shares of Series A Convertible Preferred Stock shall be 1,200,000.

RESOLVED FURTHER, that the remaining balance of the Company’s authorized but unissued undesignated shares shall
continue to be undesignated as to class or series.

RESOLVED FURTHER, that the Series A Convertible Preferred Stock shall have the relative rights, restrictions
and preferences set forth in Appendix A attached hereto.

RESOLVED FURTHER, that Six Million (6,000,000) shares of the Company’s authorized and unissued Common Stock are
hereby reserved and set aside for issuance upon the conversion of the Series A Preferred Stock into Common
Stock, such number of shares of Common Stock to be subject to adjustment as provided in the Certificate of
Designation of the Relative Rights, Restrictions and Preferences of Series A Convertible Preferred Stock.

IN WITNESS WHEREOF, this Certificate of Designation has been executed by a duly authorized officer of the Company
on this, the 30th day of June 2010.

Signed: s/Roy A. Bauer

By: Roy A. Bauer

Its: CEO and President

 

5

 

Appendix A

DIGITILITI

Series “A” Convertible Preferred Stock

The total number of shares of capital stock which Digitiliti, Inc. (the “Company”) is authorized to issue is One
Hundred Ten Million (110,000,000) shares, .001 par value per share, consisting of One Hundred Million (100,000,000)
shares of common stock (the “Common Stock”) and Ten Million (10,000,000) shares of undesignated preferred stock. The
Board of Directors is authorized to establish from the undesignated preferred stock one or more classes or series of
preferred shares; to designate each class or series; and to fix the relative powers, qualifications, restrictions,
rights and preferences of each such class or series, including the right to create voting, dividend and liquidation
rights and preferences greater than those of the Common Stock. The Board has established a class of One Million Two
Hundred Thousand (1,200,000) shares designated as Series A Convertible Preferred Stock (“Series A Preferred”) at an
issue price of One Dollar ($1.00) per share (“Issue Price”). The balance of the Company’s authorized but unissued
undesignated preferred stock shall remain as undesignated preferred stock. The rights, privileges, restrictions and
other matters relating to the Series A Preferred are as follows:

1. Voting Rights. Except as may be otherwise provided in this Certificate of Designation or by
law, the Series A Preferred shall vote together with all other classes and series of voting stock of the Company as a
single class on all actions to be taken by the stockholders of the Company (including election of directors). Each
share of Series A Preferred shall entitle the holder thereof to such number of votes per share on each such action as
shall equal the number of shares of Common Stock into which each share of Series A Preferred is then convertible.

2. Dividends.  The holders of the Series A Preferred shall be entitled to receive, out
of funds legally available therefore, when and if declared by the Board of Directors, annual cumulative dividends at
the rate of six percent (6 %) on the Issue Price per share (as adjusted for any stock dividends, combinations, splits,
recapitalizations and the like with respect to such shares). Dividends shall continue to accrue annually, whether or
not declared by the Board of Director, and shall be cumulative.

3. Liquidation Rights.

(a) Upon any liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, before any
distribution or payment shall be made to the holders of the Common Stock, the holders of Series A Preferred shall be
entitled to be paid out of the assets of the Company their “Liquidation Preference”. Liquidation Preference means, with
respect to a share of Series A Preferred, an amount equal to the Issue Price of One Dollar ($ 1.00) (as adjusted for
any stock dividends, combinations, splits, recapitalizations and the like with respect to such shares) plus all accrued
but unpaid dividends thereon (whether or not such dividends are declared). If, upon any such liquidation, dissolution
or winding up, the assets of the Company shall be insufficient to make payment in full to all holders of Series A
Preferred of the Liquidation Preference set forth in this Section 3(a), then such assets shall be distributed among the
holders of Series A Preferred at the time outstanding, ratably in proportion to the full amounts to which they would
otherwise be respectively entitled.

 

6

 

(b) After the payment of the full Liquidation Preference of the Series A Preferred as set forth in Section 3(a)
above, the assets of the Company legally available for distribution, if any, shall be distributed ratably to the
holders of the Common Stock.

(c) The following events shall be considered a liquidation under this Section 3: any consolidation or merger of
the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in
which the stockholders of the Company immediately prior to such consolidation, merger or reorganization own less than
50% of the Company’s voting power immediately after such consolidation or any merger or reorganization, or any
transaction or series of related transactions, to which the Company is a party in which in excess of fifty percent
(50%) of the Company’s voting power is transferred, excluding in either case any consolidation or merger effected
principally to change the domicile of the Company or change of entity form (an “Acquisition”).

4. Conversion Rights.

The holders of the Series A Preferred shall have the following rights with respect to the conversion of the Series
A Preferred into shares of Common Stock (the “Conversion Rights”):

(a) Optional Conversion. Subject to and in compliance with the provisions of this Section 4, any shares of Series
A Preferred may, at the option of the holder, be converted into fully-paid and nonassessable shares of Common Stock.
The number of shares of Common Stock to which a holder of Series A Preferred shall be entitled upon conversion shall
initially be five (5) shares of Common Stock for every share of Series A Preferred being converted, as adjusted
(“Conversion Basis”).

(b) Mandatory Conversion. Subject to and in compliance with the provisions of this Section 4, shares of Series A
Preferred will be automatically converted into fully-paid and nonassessable shares of Common Stock based on the
Conversion Basis upon the occurrence of one of the following events:

(1) If the Common Stock trades at $ .60 per share for more than 10 consecutive days;

(2) If the Company conducts a capital raise of common stock at a price of at least $ .50 per share and
raises at least $5 Million Dollars ($5,000,000) gross; or

(3) If at least two-thirds (2/3) of the authorized shares of Series A Preferred Stock have been converted
to shares of Common Stock

(c) Mechanics of Conversion. Each holder of Series A Preferred who desires to convert the same into shares of
Common Stock pursuant to this Section 4 shall surrender the certificate or certificates therefore, duly endorsed, at
the office of the Company or any transfer agent for the Series A Preferred, and shall give written notice to the
Company at such office that such holder elects to convert the same. Such notice shall state the number of shares of
Series A Preferred being converted. Thereupon, the Company or its transfer agent shall promptly issue and deliver at
such office to such holder a certificate or certificates for the number of shares of Common Stock to which such holder
is entitled and shall promptly pay in cash (at the Common Stock’s fair market value determined by the Board of
Directors as of the date of conversion) the value of any fractional share of Common Stock otherwise issuable to any
holder of Series A Preferred. Such conversion shall be deemed to have been made at the close of business on the date
of such surrender of the certificates representing the shares of Series A Preferred to be converted, and the person
entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the
record holder of such shares of Common Stock on such date. The Company or its transfer agent shall not be obligated to
issue certificates evidencing the shares of Common Stock issuable upon such conversion unless the certificates
evidencing such shares of Series A Preferred are either delivered to the Company or its transfer agent as provided
above, or the holder notifies the Company or its transfer agent that such certificates have been lost, stolen or
destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it
in connection with such certificates.

 

7

 

(d) Adjustment for Stock Splits and Combinations. If the Company shall at any time or from time to time after the
date that the first share of Series A Preferred is issued (the “Original Issue Date”) effect a subdivision of the
outstanding Common Stock without a corresponding subdivision of the Preferred Stock, the Series A Preferred Conversion
Basis in effect immediately before that subdivision shall be proportionately decreased. Conversely, if the Company
shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock
into a smaller number of shares without a corresponding combination of the Preferred Stock, the Series A Preferred
Conversion Basis in effect immediately before the combination shall be proportionately increased. Any adjustment under
this Section 4(d) shall become effective at the close of business on the date the subdivision or combination becomes
effective.

(e) Adjustment for Common Stock Dividends and Distributions. If the Company at any time or from time to time
after the Original Issue Date makes, or fixes a record date for the determination of holders of Common Stock entitled
to receive, a dividend or other distribution payable in additional shares of Common Stock, in each such event the
Series A Preferred Conversion Basis that is then in effect shall be proportionately increased as of the time of such
issuance or, in the event such record date is fixed, as of the close of business on such record date, by multiplying
the Series A Preferred Conversion Basis then in effect by a fraction (i) the numerator of which is the total number of
shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business
on such record date, and (ii) the denominator of which is the total number of shares of Common Stock issued and
outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number
of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, that if such record
date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed
therefore, the Series A Preferred Conversion Price shall be recomputed accordingly as of the close of business on such
record date and thereafter the Series A Preferred Conversion Basis shall be adjusted pursuant to this Section 4(e) to
reflect the actual payment of such dividend or distribution.

(f) Adjustment for Reclassification, Exchange and Substitution. If at any time or from time to time after the
Original Issue Date, the Common Stock issuable upon the conversion of the Series A Preferred is changed into the same
or a different number of shares of any class or classes of stock, whether by recapitalization, reclassification or
otherwise (other than an Acquisition as defined in Section 3(c) or a subdivision or combination of shares or stock
dividend or a reorganization, merger, consolidation or sale of assets provided for elsewhere in this Section 4), each
holder of Series A Preferred shall have the right thereafter to convert such stock into the kind and amount of stock
and other securities and property receivable upon such recapitalization, reclassification or other change by holders of
the maximum number of shares of Common Stock into which such shares of Series A Preferred could have been converted
immediately prior to such recapitalization, reclassification or change, all subject to further adjustment as provided
herein or with respect to such other securities or property by the terms thereof.

(g) Reorganizations, Mergers or Consolidations. If at any time or from time to time after the Original Issue
Date, there is a capital reorganization of the Common Stock or the merger or consolidation of the Company with or into
another corporation or another entity or person (other than an Acquisition as defined in Section 3(c) or a
recapitalization, subdivision, combination, reclassification, exchange or substitution of shares provided for elsewhere
in this Section 4), as a part of such capital reorganization, provision shall be made so that the holders of the Series
A Preferred shall thereafter be entitled to receive upon conversion of the Series A Preferred the number of shares of
stock or other securities or property of the Company to which a holder of the number of shares of Common Stock
deliverable upon conversion would have been entitled on such capital reorganization, subject to adjustment in respect
of such stock or securities by the terms thereof. In any such case, appropriate adjustment shall be made in the
application of the provisions of this Section 4 with respect to the rights of the holders of Series A Preferred after
the capital reorganization to the end that the provisions of this Section 4 (including adjustment of the Series A
Preferred Conversion Basis then in effect and the number of shares issuable upon conversion of the Series A Preferred)
shall be applicable after that event and be as nearly equivalent as practicable.

 

8

 

(h) Certificate of Adjustment. In each case of an adjustment or readjustment of the Series A Preferred Conversion
Basis for the number of shares of Common Stock or other securities issuable upon conversion of the Series A Preferred,
if the Series A Preferred is then convertible pursuant to this Section 4, the Company, at its expense, shall compute
such adjustment or readjustment in accordance with the provisions hereof and prepare a certificate showing such
adjustment or readjustment, and shall mail such certificate, by first class mail, postage prepaid, to each registered
holder of Series A Preferred at the holder’s address as shown in the Company’s books. The certificate shall set forth
such adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based,
including a statement of (i) the consideration received or deemed to be received by the Company for any additional
shares of Common Stock issued or sold or deemed to have been issued or sold, (ii) the Series A Preferred Conversion
Basis at the time in effect, (iii) the number of additional shares of Common Stock and (iv) the type and amount, if
any, of other property which at the time would be received upon conversion of the Series A Preferred.

(i) Notices of Record Date. Upon (i) any taking by the Company of a record of the holders of any class of
securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution, or (ii) any Acquisition (as defined in Section 3(c)) or other capital reorganization of the Company, any
reclassification or recapitalization of the capital stock of the Company, any merger or consolidation of the Company
with or into any other corporation, or any voluntary or involuntary dissolution, liquidation or winding up of the
Company, the Company shall mail to each holder of Series A Preferred at least ten (10) days prior to the record date
specified therein (or such shorter period approved by the holders of at least sixty-seven (67%) of the then outstanding
shares of Series A Preferred) a notice specifying (A) the date on which any such record is to be taken for the purpose
of such dividend or distribution and a description of such dividend or distribution; (B) the date on which any such
Acquisition, reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up
is expected to become effective; and (C) the date, if any, that is to be fixed as to when the holders of record of
Common Stock (or other securities) shall be entitled to exchange their shares of Common Stock (or other securities) for
securities or other property deliverable upon such Acquisition, reorganization, reclassification, transfer,
consolidation, merger, dissolution, liquidation or winding up.

(j) Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of Series A
Preferred. All shares of Common Stock (including fractions thereof) issuable upon conversion of more than one share of
Series A Preferred by a holder thereof shall be aggregated for purposes of determining whether the conversion would
result in the issuance of any fractional share. If, after the aforementioned aggregation, the conversion would result
in the issuance of any fractional share, the Company shall, in lieu of issuing any fractional share, pay cash equal to
the product of such fraction multiplied by the Common Stock’s fair market value (as determined by the Board of
Directors) on the date of conversion.

(k) Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out
of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the shares
of the Series A Preferred, such number of its shares of Common Stock as shall from time to time be sufficient to effect
the conversion of all outstanding shares of the Series A Preferred. If at any time the number of authorized but
unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding shares of the
Series A Preferred, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to
increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such
purpose.

 

9

 

(l) Notices. Any notice required by the provisions of this Section 4 shall be in writing and shall be deemed
effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail
or facsimile if sent during normal business hours of the recipient, and if not, then on the next business day, (iii)
five (5) calendar days after having been sent by registered or certified mail, return receipt requested, postage
prepaid, or (iv) one (1) business day after deposit with a nationally recognized overnight courier, specifying next
business day delivery, with verification of receipt. All notices shall be addressed to each holder of record at the
address of such holder appearing on the books of the Company.

(m) Payment of Taxes. The Company will pay all taxes (other than taxes based upon income) and other governmental
charges that may be imposed with respect to the issue or delivery of shares of Common Stock upon conversion of shares
of Series A Preferred, excluding any tax or other charge imposed in connection with any transfer involved in the issue
and delivery of shares of Common Stock in a name other than that in which the shares of Series A Preferred so converted
were registered.

5. Optional Redemption by Company.

(a) The Company shall have the right, at any time, to redeem all or any of the Series A Preferred at the
“Redemption Price.” Redemption Price means, with respect to a share of Series A Preferred, an amount equal to the
Issue Price of One Dollar ($ 1.00) (as adjusted for any stock dividends, combinations, splits, recapitalizations and
the like with respect to such shares) plus all accrued but unpaid dividends thereon (whether or not such dividends are
declared).

(b) In order to exercise its right to affect an Optional Redemption, the Company must deliver a written notice to
each Holder whose shares of Series A Preferred are to be redeemed. Such redemption notice shall specify the date on
which such Optional Redemption will be consummated (the “Redemption Date”) (which date shall not be less than 10
business days after the date on which the redemption notice is delivered), the number of shares of Series A Preferred
to be redeemed from each holder, and the calculation of the Redemption Price. The Company shall pay the Redemption
Price to the holders whose shares of Series A Preferred are being redeemed on the Redemption Date in cash.

(c) Pro Rata Redemptions. If the Company will not be redeeming all of the outstanding shares of Series A
Preferred, the Company shall effectuate the Optional Redemption with respect to the holders on a pro rata basis in
proportion to the number of shares of Series A Preferred held by each of the holders relative to the aggregate number
of shares of Series A Preferred being redeemed by the Company under such Optional Redemption.

(d) Rights of Holders. Notwithstanding the delivery by the Company of a redemption notice, nothing contained
herein shall be deemed to limit in any way the right of a holder to convert its shares of Series A Preferred prior to
the Redemption Date.

 

10exv10w1

Exhibit 10.1

EXECUTION VERSION

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

dated as of June 30, 2010

among

NMHG HOLDING CO.

NACCO MATERIALS HANDLING GROUP, INC.

NACCO MATERIALS HANDLING LIMITED

NACCO MATERIALS HANDLING B.V.

NMH INTERNATIONAL B.V.

and

N.M.H. HOLDING B.V.

as Borrowers

THE FINANCIAL INSTITUTIONS FROM TIME TO TIME

PARTY HERETO AS LENDERS

THE FINANCIAL INSTITUTION FROM TIME TO TIME

PARTY HERETO AS ISSUING BANKS

U.S. BANK NATIONAL ASSOCIATION,

as Senior Managing Agent

WELLS FARGO CAPITAL FINANCE, INC.,

as Documentation Agent

BANK OF AMERICA, N.A.,

as Syndication Agent

and

CITICORP NORTH AMERICA, INC.,

as Administrative Agent

 

CITIGROUP GLOBAL MARKETS INC.

and

BANC OF AMERICA SECURITIES LLC

as Joint Lead Arrangers and as Joint Bookrunners

 

 

 

Table of Contents

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	ARTICLE I	 	 	 	 
	DEFINITIONS	 	 	2	 
	 
	 	 	 	 	 	 
	1.01.
	 	Certain Defined Terms	 	 	2	 
	1.02.
	 	Computation of Time Periods	 	 	54	 
	1.03.
	 	Accounting Terms	 	 	55	 
	1.04.
	 	Other Definitional Provisions	 	 	55	 
	1.05.
	 	Other Terms	 	 	55	 
	1.06.
	 	Payments by the Borrowers	 	 	55	 
	1.07.
	 	Accounting and Financial Computations	 	 	55	 
	 
	 	 	 	 	 	 
	ARTICLE II	 	 	 	 
	AMOUNTS AND TERMS OF LOANS AND LETTERS OF CREDIT	 	 	55	 
	 
	 	 	 	 	 	 
	2.01.
	 	The Revolving Credit Facility	 	 	55	 
	2.02.
	 	Letters of Credit	 	 	62	 
	2.03.
	 	Expansion Option	 	 	68	 
	2.04.
	 	Evidence of Indebtedness	 	 	69	 
	2.05.
	 	Authorized Officers and Administrative Agents	 	 	70	 
	2.06.
	 	Booking of Loans and Letters of Credit	 	 	70	 
	 
	 	 	 	 	 	 
	ARTICLE III	 	 	 	 
	PAYMENTS AND PREPAYMENTS	 	 	70	 
	 
	 	 	 	 	 	 
	3.01.
	 	Prepayments; Reductions in and Reallocations of Commitments	 	 	70	 
	3.02.
	 	Payments	 	 	74	 
	3.03.
	 	Pro Rata Shares Adjustment	 	 	78	 
	3.04.
	 	Taxes	 	 	79	 
	3.05.
	 	Increased Capital	 	 	81	 
	3.06.
	 	Cash Management and Concentration Accounts	 	 	82	 
	3.07.
	 	Defaulting Lenders	 	 	85	 
	3.08.
	 	UK Tax	 	 	88	 
	 
	 	 	 	 	 	 
	ARTICLE IV	 	 	 	 
	INTEREST AND FEES	 	 	92	 
	 
	 	 	 	 	 	 
	4.01.
	 	Interest on the Loans and Other Obligations	 	 	92	 
	4.02.
	 	Special Provisions Governing Fixed Rate Loans	 	 	95	 
	4.03.
	 	Fees	 	 	97	 
	 
	 	 	 	 	 	 
	ARTICLE V	 	 	 	 
	CONDITIONS TO EFFECTIVENESS;	 	 	 	 
	CONDITIONS TO LOANS AND LETTERS OF CREDIT	 	 	99	 
	 
	 	 	 	 	 	 
	5.01.
	 	Conditions Precedent to Effectiveness	 	 	99	 

 

 

Table of Contents

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	5.02.
	 	Conditions Precedent to Revolving Loans, Swing Loans, Overdraft Loans and Letters of Credit	 	 	101	 
	 
	 	 	 	 	 	 
	ARTICLE VI	 	 	 	 
	REPRESENTATIONS AND WARRANTIES	 	 	102	 
	 
	 	 	 	 	 	 
	6.01.
	 	Representations and Warranties of the Borrowers	 	 	102	 
	 
	 	 	 	 	 	 
	ARTICLE VII	 	 	 	 
	REPORTING COVENANTS	 	 	112	 
	 
	 	 	 	 	 	 
	7.01.
	 	Financial Statements	 	 	113	 
	7.02.
	 	Events of Default	 	 	115	 
	7.03.
	 	Lawsuits	 	 	116	 
	7.04.
	 	Insurance	 	 	116	 
	7.05.
	 	Borrowing Base Certificate	 	 	116	 
	7.06.
	 	ERISA and Analogous Notices	 	 	118	 
	7.07.
	 	Environmental Notices	 	 	120	 
	7.08.
	 	Labor Matters	 	 	121	 
	7.09.
	 	Public Filings and Reports	 	 	121	 
	7.10.
	 	Bank Account Information	 	 	121	 
	7.11.
	 	Permitted Term B Loans; Debt	 	 	121	 
	7.12.
	 	Other Reports	 	 	121	 
	7.13.
	 	Other Information	 	 	121	 
	7.14.
	 	Solvency of Italian Receivables Seller	 	 	122	 
	7.15.
	 	Anti-Terrorism and Anti-Money Laundering Law Notices	 	 	122	 
	 
	 	 	 	 	 	 
	ARTICLE VIII	 	 	 	 
	AFFIRMATIVE COVENANTS	 	 	122	 
	 
	 	 	 	 	 	 
	8.01.
	 	Organizational Existence, Etc.	 	 	122	 
	8.02.
	 	Organizational Powers; Conduct of Business, Etc.	 	 	122	 
	8.03.
	 	Compliance with Laws, Etc.	 	 	123	 
	8.04.
	 	Payment of Taxes and Claims; Tax Consolidation	 	 	123	 
	8.05.
	 	Insurance	 	 	123	 
	8.06.
	 	Inspection of Property; Books and Records; Discussions	 	 	124	 
	8.07.
	 	ERISA Compliance	 	 	125	 
	8.08.
	 	Foreign Employee Benefit Plan Compliance	 	 	125	 
	8.09.
	 	Maintenance of Property	 	 	125	 
	8.10.
	 	Further Assurances; Additional Collateral	 	 	125	 
	8.11.
	 	Landlord and Bailee Waivers	 	 	127	 
	8.12.
	 	Environmental Compliance	 	 	127	 
	8.13.
	 	Insurance and Condemnation Proceeds	 	 	127	 
	8.14.
	 	Compliance with Anti-Money Laundering Laws and Anti-Terrorism Laws	 	 	128	 
	8.15.
	 	Appraisals	 	 	128	 

ii

 

Table of Contents

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	ARTICLE IX	 	 	 	 
	NEGATIVE COVENANTS	 	 	128	 
	 
	 	 	 	 	 	 
	9.01.
	 	Indebtedness	 	 	129	 
	9.02.
	 	Sales of Assets	 	 	131	 
	9.03.
	 	Liens	 	 	132	 
	9.04.
	 	Investments	 	 	133	 
	9.05.
	 	Accommodation Obligations	 	 	135	 
	9.06.
	 	Restricted Payments	 	 	136	 
	9.07.
	 	Conduct of Business; Subsidiaries; Acquisitions	 	 	138	 
	9.08.
	 	Transactions with Shareholders and Affiliates	 	 	139	 
	9.09.
	 	Restriction on Fundamental Changes	 	 	140	 
	9.10.
	 	Sale and Leaseback Transactions; Operating Leases	 	 	141	 
	9.11.
	 	Margin Regulations; Securities Laws	 	 	141	 
	9.12.
	 	ERISA	 	 	141	 
	9.13.
	 	Constituent Documents	 	 	142	 
	9.14.
	 	Fiscal Year	 	 	142	 
	9.15.
	 	Cancellation of Debt; Prepayment of Indebtedness; Certain Amendments	 	 	142	 
	9.16.
	 	Environmental Matters	 	 	143	 
	9.17.
	 	Cash Management	 	 	143	 
	9.18.
	 	No Restrictions on Subsidiary Dividends	 	 	143	 
	9.19.
	 	No Violation of Anti-Terrorism Laws	 	 	143	 
	 
	 	 	 	 	 	 
	ARTICLE X	 	 	 	 
	FINANCIAL COVENANTS	 	 	143	 
	 
	 	 	 	 	 	 
	10.01.
	 	Excess Availability	 	 	143	 
	10.02.
	 	Maximum Leverage Ratio	 	 	143	 
	10.03.
	 	Minimum Fixed Charge Coverage Ratio	 	 	144	 
	10.04.
	 	Other Financial Covenants	 	 	144	 
	 
	 	 	 	 	 	 
	ARTICLE XI	 	 	 	 
	EVENTS OF DEFAULT; RIGHTS AND REMEDIES	 	 	144	 
	 
	 	 	 	 	 	 
	11.01.
	 	Events of Default	 	 	144	 
	11.02.
	 	Rights and Remedies	 	 	147	 
	11.03.
	 	Cash Collateral	 	 	148	 
	11.04.
	 	License for Use of Software and Other Intellectual Property	 	 	149	 
	 
	 	 	 	 	 	 
	ARTICLE XII	 	 	 	 
	THE ADMINISTRATIVE AGENT	 	 	149	 
	 
	 	 	 	 	 	 
	12.01.
	 	Appointment	 	 	149	 
	12.02.
	 	Nature of Duties	 	 	150	 
	12.03.
	 	Rights, Exculpation, Etc.	 	 	150	 
	12.04.
	 	Reliance	 	 	151	 
	12.05.
	 	Indemnification	 	 	152	 

iii

 

Table of Contents

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	12.06.
	 	CNAI Individually	 	 	152	 
	12.07.
	 	Successor Administrative Agents; Resignation of Administrative Agents	 	 	153	 
	12.08.
	 	Relations Among Lenders	 	 	154	 
	12.09.
	 	Concerning the Collateral and the Loan Documents	 	 	155	 
	12.10.
	 	No Reliance on Administrative Agent’s Customer Identification Program	 	 	157	 
	12.11.
	 	USA Patriot Act	 	 	158	 
	12.12.
	 	Delegation of Duties	 	 	158	 
	12.13.
	 	Non-Reliance on Administrative Agent and other Lenders	 	 	158	 
	 
	 	 	 	 	 	 
	ARTICLE XIII	 	 	 	 
	CO-BORROWER PROVISIONS	 	 	159	 
	 
	 	 	 	 	 	 
	13.01.
	 	Domestic Borrowers	 	 	159	 
	13.02.
	 	Multicurrency Borrowers	 	 	159	 
	13.03.
	 	Separate Actions	 	 	160	 
	13.04.
	 	Obligations Absolute and Unconditional	 	 	160	 
	13.05.
	 	Waivers and Acknowledgements	 	 	161	 
	13.06.
	 	Contribution Among Borrowers	 	 	161	 
	13.07.
	 	Subrogation	 	 	163	 
	13.08.
	 	Subordination	 	 	163	 
	 
	 	 	 	 	 	 
	ARTICLE XIV	 	 	 	 
	MISCELLANEOUS	 	 	164	 
	 
	 	 	 	 	 	 
	14.01.
	 	Lender Assignments and Participations	 	 	164	 
	14.02.
	 	Expenses	 	 	167	 
	14.03.
	 	Indemnity	 	 	167	 
	14.04.
	 	Change in Accounting Principles	 	 	168	 
	14.05.
	 	Setoff	 	 	169	 
	14.06.
	 	Ratable Sharing	 	 	169	 
	14.07.
	 	Amendments and Waivers	 	 	170	 
	14.08.
	 	Notices	 	 	172	 
	14.09.
	 	Survival of Warranties and Agreements	 	 	173	 
	14.10.
	 	Failure or Indulgence Not Waiver; Remedies Cumulative	 	 	173	 
	14.11.
	 	Marshaling; Payments Set Aside	 	 	173	 
	14.12.
	 	Severability	 	 	173	 
	14.13.
	 	Headings	 	 	173	 
	14.14.
	 	Governing Law	 	 	174	 
	14.15.
	 	Limitation of Liability	 	 	174	 
	14.16.
	 	Successors and Assigns	 	 	174	 
	14.17.
	 	Certain Consents and Waivers	 	 	174	 
	14.18.
	 	Counterparts; Effectiveness; Inconsistencies	 	 	176	 
	14.19.
	 	Limitation on Agreements	 	 	176	 
	14.20.
	 	Confidentiality	 	 	176	 
	14.21.
	 	Currency Conversions	 	 	176	 
	14.22.
	 	Entire Agreement	 	 	177	 
	14.23.
	 	Advice of Counsel	 	 	177	 

iv

 

Table of Contents

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	14.24.
	 	Documentation Agent, Senior Managing Agent, Syndication Agent, Joint Lead Arrangers and Joint
Bookrunners	 	 	177	 
	14.25.
	 	Termination of the Multicurrency Facility	 	 	178	 
	14.26.
	 	Amendment and Restatement	 	 	178	 
	14.27.
	 	Posting of Communications	 	 	178	 
	 
	 	 	 	 	 	 
	ARTICLE XV	 	 	179	 
	Collection Allocation Mechanism	 	 	179	 
	 
	 	 	 	 	 	 
	15.01.
	 	Implementation of CAM	 	 	179	 
	15.02.
	 	Letters of Credit	 	 	180	 
	15.03.
	 	Conversion	 	 	181	 

v

 

EXHIBITS

	 	 	 	 	 

	Exhibit A

	 	—
	 	Applicable Interest Rate Margins and Fee Rates
	 
	 	 	 	 
	Exhibit B

	 	—
	 	Form of Assignment and Acceptance
	 
	 	 	 	 
	Exhibit C-1

	 	—
	 	Form of Borrowing Base Certificate (Domestic Facility)
	 
	 	 	 	 
	Exhibit C-2

	 	—
	 	Form of Borrowing Base Certificate (Multicurrency Facility)
	 
	 	 	 	 
	Exhibit D-1

	 	—
	 	Form of Collateral Access Agreement (Landlord)
	 
	 	 	 	 
	Exhibit D-2

	 	—
	 	Form of Collateral Access Agreement (Bailee)
	 
	 	 	 	 
	Exhibit E

	 	—
	 	Form of Collection Account Agreement
	 
	 	 	 	 
	Exhibit F

	 	—
	 	Credit and Collection Policies
	 
	 	 	 	 
	Exhibit G-1

	 	—
	 	Form of Domestic Borrower Guaranty
	 
	 	 	 	 
	Exhibit G-2

	 	—
	 	Form of Multicurrency Borrower Guaranty
	 
	 	 	 	 
	Exhibit G-3

	 	—
	 	Form of Foreign Guaranty (Multicurrency Obligations)
	 
	 	 	 	 
	Exhibit H

	 	—
	 	Form of Domestic Security Agreement
	 
	 	 	 	 
	Exhibit I

	 	—
	 	Form of Foreign Working Capital Guaranty
	 
	 	 	 	 
	Exhibit J

	 	—
	 	Initial Projections
	 
	 	 	 	 
	Exhibit K-1

	 	—
	 	Form of Notice of Borrowing (Domestic Facility)
	 
	 	 	 	 
	Exhibit K-2

	 	—
	 	Form of Notice of Borrowing (Multicurrency Facility)
	 
	 	 	 	 
	Exhibit L

	 	—
	 	Form of Notice of Continuation/Conversion
	 
	 	 	 	 
	Exhibit M-1

	 	—
	 	Form of Notice of Letter of Credit Issuance (Domestic Facility)
	 
	 	 	 	 
	Exhibit M-2

	 	—
	 	Form of Notice of Letter of Credit Issuance (Multicurrency Facility)
	 
	 	 	 	 
	Exhibit N

	 	—
	 	Form of Officer’s Certificate
	 
	 	 	 	 
	Exhibit O

	 	—
	 	Form of Pledge Agreement (Domestic)
	 
	 	 	 	 
	Exhibit P

	 	—
	 	Pro Forma
	 
	 	 	 	 
	Exhibit Q-1

	 	—
	 	Form of Domestic Loan Note
	 
	 	 	 	 
	Exhibit Q-2

	 	—
	 	Form of Multicurrency Loan Note

 

 

	 	 	 	 	 

	Exhibit Q-3

	 	—
	 	Form of Swing Loan Note
	 
	 	 	 	 
	Exhibit R

	 	—
	 	Form of Trademark Security Agreement
	 
	 	 	 	 
	Exhibit S

	 	—
	 	List of Closing Documents
	 
	 	 	 	 
	Exhibit T

	 	—
	 	Form of Compliance Certificate
	 
	 	 	 	 
	Exhibit U

	 	—
	 	Form of Increasing Lender Supplement
	 
	 	 	 	 
	Exhibit V

	 	—
	 	Form of Augmenting Lender Supplement
	 
	 	 	 	 
	Exhibit W

	 	—
	 	Mandatory Cost

-2-

 

SCHEDULES

	 	 	 	 	 

	Schedule 1.01.1

	 	—
	 	Commitments
	 
	 	 	 	 
	Schedule 1.01.2

	 	—
	 	Guarantors
	 
	 	 	 	 
	Schedule 1.01.3

	 	—
	 	Foreign Security Agreements
	 
	 	 	 	 
	Schedule 1.01.4

	 	—
	 	Accommodation Obligations; Contingent Obligations
	 
	 	 	 	 
	Schedule 1.01.5

	 	—
	 	Permitted Existing Indebtedness
	 
	 	 	 	 
	Schedule 1.01.6

	 	—
	 	Permitted Existing Investments
	 
	 	 	 	 
	Schedule 1.01.7

	 	—
	 	Permitted Existing Liens
	 
	 	 	 	 
	Schedule 1.01.8

	 	—
	 	Refinanced Indebtedness
	 
	 	 	 	 
	Schedule 1.01.9

	 	—
	 	Permitted Financial Institutions
	 
	 	 	 	 
	Schedule 1.01.10

	 	—
	 	Pledge Agreements
	 
	 	 	 	 
	Schedule 2.02

	 	—
	 	Existing Letters of Credit
	 
	 	 	 	 
	Schedule 6.01-A

	 	—
	 	Constituent Documents
	 
	 	 	 	 
	Schedule 6.01-C

	 	—
	 	Authorized, Issued and Outstanding Capital Stock; Subsidiaries
	 
	 	 	 	 
	Schedule 6.01-I

	 	—
	 	Litigation; Adverse Effects
	 
	 	 	 	 
	Schedule 6.01-O

	 	—
	 	Environmental Matters
	 
	 	 	 	 
	Schedule 6.01-P

	 	—
	 	ERISA Matters
	 
	 	 	 	 
	Schedule 6.01-R

	 	—
	 	Labor Matters
	 
	 	 	 	 
	Schedule 6.01-U

	 	—
	 	Intellectual Property & Permits
	 
	 	 	 	 
	Schedule 6.01-V

	 	—
	 	Assets and Properties
	 
	 	 	 	 
	Schedule 6.01-W

	 	—
	 	Insurance
	 
	 	 	 	 
	Schedule 6.01-Y

	 	—
	 	Transactions with Affiliates
	 
	 	 	 	 
	Schedule 6.01-Z

	 	—
	 	Collection Account Banks; Bank Accounts
	 
	 	 	 	 
	Schedule 6.01-CC

	 	—
	 	Compensation Increases
	 
	 	 	 	 
	Schedule 7.05-A

	 	—
	 	Monthly Domestic Borrowing Base Delivery Dates
	 
	 	 	 	 
	Schedule 7.05-B

	 	—
	 	Monthly Multicurrency Borrowing Base Delivery Dates

-3-

 

	 	 	 	 	 

	Schedule 7.05-C

	 	—
	 	Semi-Monthly Domestic Borrowing Base Delivery Dates
	 
	 	 	 	 
	Schedule 7.05-D

	 	—
	 	Semi-Monthly Multicurrency Borrowing Base Delivery Dates
	 
	 	 	 	 
	Schedule 9.02-B

	 	—
	 	Sale of Assets
	 
	 	 	 	 
	Schedule 9.04

	 	—
	 	Investments in Disbursement Accounts
	 
	 	 	 	 
	Schedule 9.10

	 	—
	 	Sale and Leaseback Transactions

-4-

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

          This Second Amended and Restated Credit Agreement dated as of June 30, 2010 (as the same may
be amended, restated, supplemented or otherwise modified from time to time, the
“Agreement”) is entered into among:

     (i) NMHG Holding Co., a Delaware corporation (together with its permitted successors
and assigns hereunder, “NMHG Holding”);

     (ii) NACCO Materials Handling Group, Inc., a Delaware corporation (“NMHG”);

     (iii) NACCO Materials Handling Limited (company number 02636775), incorporated under
the laws of England and Wales (the “UK Borrower”);

     (iv) NACCO Materials Handling B.V., a private company with limited liability
incorporated under the laws of the Netherlands having its corporate seat in Nijmegen (the
“NACCO BV”);

     (v) NMH International B.V., a private company with limited liability incorporated under
the laws of the Netherlands having its corporate seat in Nijmegen (“NMH
International”);

     (vi) N.M.H. Holding B.V., a private company with limited liability incorporated under
the laws of the Netherlands having its corporate seat in Nijmegen (“Holding BV”; and
together with NACCO BV and NMH International, the “Netherlands Borrowers”);

     (vii) the financial institutions from time to time a party hereto as Lenders, whether
by execution of this Agreement or an Assignment and Acceptance, the financial institutions
from time to time party hereto as Issuing Banks, whether by execution of this Agreement or
an Assignment and Acceptance or otherwise;

     (viii) Citicorp North America, Inc., a Delaware corporation (“CNAI”), in its
capacity as administrative agent for the Lenders and the Issuing Banks hereunder (with its
successors and permitted assigns in such capacity, the “Administrative Agent”);

     (ix) Bank of America, N.A., in its capacity as syndication agent (with its successors
and permitted assigns in such capacity, the “Syndication Agent”); and

     (x) Citibank International PLC (with its successors and permitted assigns in such
capacity, the “Overdraft Line Bank”).

PRELIMINARY STATEMENT

          The Borrowers (other than NMH International and Holding BV), the Overdraft Line Bank, certain
of the Lenders and the Administrative Agent are parties to the Amended and Restated Credit
Agreement dated as December 19, 2005 (as amended or otherwise modified prior to the date hereof,
the “Previous Agreement”).

 

 

          The parties hereto wish to amend and restate the Previous Agreement in its entirety pursuant
to the terms hereof. Upon the effectiveness hereof, and subject to the terms and conditions set
forth herein, the Previous Agreement is hereby so amended and restated.

ARTICLE I

DEFINITIONS

          1.01. Certain Defined Terms. In addition to the terms defined above, the following
terms used in this Agreement shall have the following meanings, applicable both to the singular and
the plural forms of the terms defined:

          “Accommodation Obligation” means any Contractual Obligation, contingent or
otherwise, of one Person with respect to any Indebtedness, obligation or liability of another, if
the primary purpose or intent thereof by the Person incurring the Accommodation Obligation is to
provide assurance to the obligee of such Indebtedness, obligation or liability of another that such
Indebtedness, obligation or liability will be paid or discharged, or that any agreements relating
thereto will be complied with, or that the holders thereof will be protected (in whole or in part)
against loss in respect thereof including, without limitation, direct and indirect guarantees,
endorsements (except for collection or deposit in the ordinary course of business), notes co-made
or discounted, recourse agreements, take-or-pay agreements, keep-well agreements, agreements to
purchase or repurchase such Indebtedness, obligation or liability or any security therefor or to
provide funds for the payment or discharge thereof, agreements to maintain solvency, assets, level
of income, or other financial condition, and agreements to make payment other than for value
received. The amount of any Accommodation Obligation shall be equal to the lesser of (a) the
principal amount payable under such Accommodation Obligation (if quantifiable) and (b) the portion
of the obligation so guaranteed or otherwise supported.

          “Account” is defined in Section 2.01(c)(i).

          “Accounting Changes” means, with respect to any Person, changes in accounting
principles required by the promulgation of any rule, regulation, pronouncement or opinion of the
Financial Accounting Standards Board or the American Institute of Certified Public Accountants (or
any successor thereto or any agency with similar functions).

          “Accounting Firm” means Ernst & Young LLP or such other firm of independent certified
public accountants of recognized national standing acceptable to the Administrative Agent.

          “Acquisition” is defined in Section 9.04(f).

          “Activities” is defined in Section 12.06(b).

          “Additional Assets” means: (a) any property, plant or equipment or other tangible
assets used in or useful in the operation of a Related Business, including materials and labor used
to rebuild or restore Property damaged or lost due to an event of casualty, or to replace Property
taken pursuant to a condemnation proceeding, (b) the Capital Stock of a Person that becomes a
Borrower Subsidiary as a result of the acquisition of such Capital Stock by a Borrower or a
Borrower Subsidiary, or (c) Capital Stock constituting a minority interest in any Person that at
such time is a Borrower Subsidiary; provided, however, that any such Subsidiary described in clause
(b) or (c) above is primarily engaged in a Related Business.

          “Adjusted EBITDA” means, for any period, the sum, without duplication, of (a)
Consolidated EBITDA and (b) equity advances and capital contributions to NMHG Holding or any of the

-2-

 

other Borrowers made during such period or within thirty days following the end of such period
and specifically designated for allocation to such period and not in the period in which made,
provided, that no greater than $25,000,000 of such equity advances and capital contributions may be
included in the determination of Adjusted EBITDA during any four-quarter period.

          “Administrative Agent” is defined in the preamble.

          “Administrative Agent Fee Letter” means the fee letter dated the Closing Date by and
among the Administrative Agent and the Borrowers, as amended, restated, supplemented or otherwise
modified from time to time.

          “Administrative Questionnaire” means an administrative questionnaire in a form
supplied by the Administrative Agent.

          “Affiliate” means, as applied to any specified Person, any other Person that, directly
or indirectly, controls, is controlled by or is under common control with, such specified Person
and includes each officer or director or general partner of such Person. For the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled
by” and “under common control with”) as applied to any specified Person means the possession,
directly or indirectly, of the power to vote five percent (5.0%) or more of the Voting Stock or
otherwise to direct or cause the direction of, the management and policies of such Person, whether
through the ownership of Voting Stock, by contract or otherwise. “Affiliated” has a
correlative meaning to Affiliate.

          “Agent’s Group” is defined in Section 12.06(b).

          “Agreement” is defined in the preamble.

          “Anti-Money Laundering Laws” means the BSA and all applicable Requirements of Law and
government guidance on BSA compliance and on the prevention and detection of money laundering
violations under 18 U.S.C. §§ 1956 and 1957.

          “Anti-Terrorism Laws” means the OFAC Laws and Regulations, the Executive Orders and
the USA Patriot Act.

          “Applicable Fixed Rate Margin”, “Applicable Floating Rate Margin”,
“Applicable Letter of Credit Fee Rate”, “Applicable Overdraft Rate Margin”, and
“Applicable Unused Commitment Fee Rate” mean a per annum rate equal to (a) during the
period from the Closing Date until January 1, 2011, the respective per annum rates in the row
designated “Level 2” on the table set forth on Exhibit A attached hereto with
respect to each of the Applicable Fixed Rate Margin, the Applicable Floating Rate Margin, the
Applicable Overdraft Rate Margin, the Applicable Letter of Credit Fee Rate, and the Applicable
Unused Commitment Fee Rate and (b) from and after such January 1, 2011, if the Average Quarterly
Availability for the applicable period ending on the last day of the then most recent fiscal
quarter (as shown on the Compliance Certificate delivered pursuant to Section 7.01(c)) is
within the applicable range set forth on Exhibit A attached hereto, the Applicable Fixed
Rate Margin, the Applicable Floating Rate Margin, the Applicable Letter of Credit Fee Rate, the
Applicable Overdraft Rate Margin and the Applicable Unused Commitment Fee Rate shall be the
respective per annum rates set forth opposite the applicable range indicated on the table set forth
on Exhibit A attached hereto. Subject to clause (a) of the preceding sentence, in the
event of the delivery of a Compliance Certificate showing an increase or decrease in the Average
Quarterly Availability which requires a change in the Applicable Fixed Rate Margin, the Applicable
Floating Rate Margin, the Applicable Letter of Credit Fee Rate, the Applicable Overdraft Rate
Margin and the Applicable Unused Commitment Fee Rate, such changes shall be effective

-3-

 

from the first day of the calendar month immediately following receipt of such Compliance
Certificate (or January 1, 2011, as applicable) (provided that the Compliance Certificate is
received by the Administrative Agent no later than 12:00 p.m. (New York time) at least one (1)
Business Day prior to the first day of such calendar month) until the next such date on which the
Applicable Fixed Rate Margin, the Applicable Floating Rate Margin, the Applicable Letter of Credit
Fee Rate, the Applicable Overdraft Rate Margin and the Applicable Unused Commitment Fee Rate are
subject to change following the delivery of (or failure to deliver) a Compliance Certificate
showing an increase or decrease in the Average Quarterly Availability which requires such changes
(any such date on which the Applicable Fixed Rate Margin, the Applicable Floating Rate Margin, the
Applicable Letter of Credit Fee Rate, the Applicable Overdraft Rate Margin and the Applicable
Unused Commitment Fee Rate are subject to change being a “Rate Change Date”); provided,
however, that failure to timely deliver such Compliance Certificate following the end of any fiscal
quarter shall, in addition to any other remedy provided for in this Agreement, result in an
increase in the Applicable Fixed Rate Margin, the Applicable Floating Rate Margin, the Applicable
Letter of Credit Fee Rate, the Applicable Overdraft Rate Margin and the Applicable Unused
Commitment Fee Rate to the maximum per annum rates for the applicable period set forth on
Exhibit A until the first day of the first calendar month following the delivery of such
Compliance Certificate demonstrating that such an increase is not required; provided further,
however, the occurrence and continuation of any Event of Default, in addition to any other remedy
provided for in this Agreement, shall result in an increase in the Applicable Fixed Rate Margin,
the Applicable Floating Rate Margin, the Applicable Letter of Credit Fee Rate, the Applicable
Overdraft Rate Margin and the Applicable Unused Commitment Fee Rate to the maximum per annum rates
for the applicable period set forth on Exhibit A until the first day of the first calendar
month following the date on which such Event of Default is cured or waived in accordance with
Section 14.07.

          “Applicable Lending Office” means, with respect to a particular Lender, its Fixed Rate
Lending Office in respect of provisions relating to Fixed Rate Loans, Overdraft Loans and
Multicurrency Loans, and its Domestic Lending Office in respect of provisions relating to Floating
Rate Loans.

          “Approved Fund” means any Fund that (a) is administered or managed by (i) a Lender,
(ii) an Affiliate of a Lender or (iii) an entity or an Affiliate of an entity that administers or
manages a Lender, and, (b) together with all other Affiliated Approved Funds that are Lender
assignees hereunder, have total assets in excess of $200,000,000.

          “Assignment and Acceptance” means an Assignment and Acceptance in substantially the
form of Exhibit B attached hereto delivered to the Administrative Agent in connection with
an assignment of a Lender’s interest under this Agreement in accordance with the provisions of
Section 14.01.

          “Augmenting Lender” is defined in Section 2.03.

          “Australian Credit Facility” means that certain Guaranteed Multi Option Facility,
dated August 15, 2000, among NACCO Materials Handling Group Pty Ltd., Citibank and Citibank
Limited, as amended, restated, supplemented or otherwise modified from time to time or as the same
may be refinanced or replaced; provided that such refinancing or replacement, taken as a whole, is
on terms no less favorable to NACCO Materials Handling Group Pty Ltd. than the terms of the
existing Australian Credit Facility prior to such replacement or refinancing; provided further that
if such refinancing or replacement is in an aggregate principal amount greater than the commitments
under the Australian Credit Facility on May 9, 2002, any excess amounts shall only be permitted as
allowed in accordance with Section 9.01(q).

          “Australian Credit Facility Sublimit” means with respect to an Australian Credit
Facility provided by a CNAI Affiliate and with respect to any calendar month, an amount equal to
the lesser of (i)

-4-

 

the Dollar Equivalent of the aggregate commitment under such Australian Credit Facility and
(ii) that amount equal to (A) the Dollar Equivalent of the amount designated in writing by NACCO
Materials Handling Group Pty Ltd. to such CNAI Affiliate and the Administrative Agent as the
“Australian Credit Facility Sublimit” at least three (3) Business Days prior to the first Business
Day of such calendar month (as such Dollar Equivalent is determined on the day of such notice)
multiplied by (B) one hundred five percent (105%); provided, that such designated amount
may not be less than the outstanding obligations under such Australian Credit Facility; provided,
further that to the extent a notice is not given as herein provided, the Australian Credit Facility
Sublimit shall be the amount most recently designated in such a written notice prior to the first
Business Day of such calendar month.

          “Australian Subsidiaries” means NMHG Australia Holding Pty Ltd., NACCO Materials
Handling Group Pty. Ltd, NMHG Distribution Pty Limited, and any other Foreign Subsidiaries
organized under the laws of Australia from time to time in accordance with Section 9.07 of
this Agreement.

          “Availability” means:

     (a) with respect to any Credit Facility at any particular time, the amount by which the
Maximum Credit Amount for such Credit Facility exceeds the Credit Facility Outstandings
under such Credit Facility at such time; or

     (b) with respect to both Credit Facilities at any particular time, the aggregate
Availability under each Credit Facility.

          “Availability Reserves” means (a) an amount equal to the Australian Credit Facility
Sublimit, (b) an amount equal to the aggregate commitments of all CNAI Affiliates under any other
foreign working capital facility subject to the Foreign Working Capital Guaranty, (c) any other
reserve against the Availability under any Credit Facility established by the Administrative Agent,
(d) such amounts as the Administrative Agent may from time to time establish against Availability
under any Credit Facility in order either (i) to preserve the value of, or the Administrative
Agent’s Lien on, the Collateral or (ii) to reflect future liabilities (including, without
limitation, liabilities in respect of cash management agreements and arrangements) of the Borrowers
to the Administrative Agent and its Affiliates, (e) such amounts as the Administrative Agent may
from time to time establish against Availability under any Credit Facility in order to reflect
risks of statutory and contractual rights of retention on the Inventory of each Multicurrency
Borrower or its Subsidiaries, (f) an amount equal to any premium payments in respect of credit
insurance policies payable by any Borrower or any Borrower Subsidiary, (g) an amount equal to any
deductible payments that could become payable in respect of any credit insurance policies of the
Borrower or any Subsidiary Borrower if any claim were made under such credit insurance policies,
(h) an amount equal to 10% of the face amount of all credit insurance polices of the Borrower and
the Borrower Subsidiaries and (i) such amounts as the Administrative Agent may from time to time
establish against Availability under any Credit Facility in order to reflect risks of Liens arising
because of Termination Events that are continuing.

          “Average Quarterly Availability” means, for any fiscal quarter of any Fiscal Year:

     (a) sum of the total Availability in respect of both Credit Facilities during each day
of such fiscal quarter

     divided by

     (b) the number of days during such fiscal quarter.

-5-

 

          “Bailee” is defined in the Domestic Security Agreement.

          “Bank Accounts” means the Cash Collateral Accounts, the Collection Accounts, the
Disbursement Accounts, the Lockboxes, and the Concentration Accounts.

          “Bankruptcy Code” means Title 11 of the United States Code (11 U.S.C. §§ 101
et seq.), as amended from time to time, and any successor statute.

          “Bankruptcy Event” means (a) any event that constitutes a Default or an Event of
Default under Section 11.01(f) or 11.01(g), and (b) as used in Section
9.06(a)(ii)(E), any event of a type described under Section 11.01(f) or
11.01(g) with respect to the Parent (rather than a Borrower or Borrower Subsidiary as set
forth therein).

          “Benefit Plan” means a defined benefit plan as defined in Section 3(35) of ERISA
(other than a Multiemployer Plan or Foreign Employee Benefit Plan) that is subject to Title IV of
ERISA, and in respect of which any Borrower or any ERISA Affiliate is, or within the immediately
preceding six (6) years was, an “employer” as defined in Section 3(5) of ERISA.

          “Board of Directors” means, with respect to any Person, the board of directors of such
Person or any committee thereof duly authorized to act on behalf of such Board.

          “Borrower Subsidiaries” means the Subsidiaries of each Borrower and “Borrower
Subsidiary” means any Subsidiary of any Borrower.

          “Borrowers” means the Domestic Borrowers and the Multicurrency Borrowers.

          “Borrowing” means a borrowing consisting of Loans under the same Credit Facility of
the same type (i.e., Floating Rate Loans or Fixed Rate Loans) and of the same Optional Currency
made on the same day by the same Borrower.

          “Borrowing Base” shall mean any of the Domestic Borrowing Base or the Multicurrency
Borrowing Base.

          “Borrowing Base Certificate” means a certificate, (a) with respect to the Domestic
Facility, in substantially the form of Exhibit C-1 attached hereto (with such modifications
thereto as shall be agreed to by the Administrative Agent in accordance with the terms of this
Agreement), setting forth the Domestic Borrowers’ calculation of the Domestic Borrowing Base and
(b) with respect to the Multicurrency Facility, in substantially the form of Exhibit C-2
attached hereto (with such modifications thereto as shall be agreed to by the Administrative Agent
in accordance with the terms of this Agreement), setting forth the Multicurrency Borrowers’
calculation of the Multicurrency Borrowing Base.

          “BSA” means the Bank Secrecy Act, 31 U.S.C. §§ 5311 et seq.

          “Business Activity Report” means, to the extent still required in the applicable
jurisdiction to enforce rights in or against Collateral or obligors of Collateral located therein,
(a) a Notice of Business Activities Report from the State of New Jersey Division of Taxation or (b)
a Minnesota Business Activity Report from the Minnesota Department of Revenue.

          “Business Day” means a day, in the applicable local time, (a) which is not a Saturday
or Sunday or a legal holiday, (b) on which banks are not required or permitted by law or other
governmental

-6-

 

action to close (i) in New York, New York, (ii) in the case of Fixed Rate Loans or
Multicurrency Loans, in London, England, or (iii) in the case of Letter of Credit transactions for
a particular Issuing Bank, in the place where its office for issuance or administration of the
pertinent Letter of Credit is located, and (c) in the case of Euro Loans, on which the
Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) system is operating.

          “CAM Exchange” means the exchange of the Lenders’ interests provided for in
Section 15.01.

          “CAM Percentage” means, as to each Lender, a fraction, expressed as a decimal, of
which:

     (a) the numerator shall be the aggregate Credit Facility Outstandings of such Lender
under all Credit Facilities immediately prior to the date on which a CAM Exchange occurs,
and

     (b) the denominator shall be the aggregate Credit Facility Outstandings prior to the
date on which a CAM Exchange occurs.

          For purposes of computing each Lender’s CAM Percentage, all Obligations which shall be
denominated in Specified Foreign Currencies shall be translated into Dollars at the Spot Rate in
effect on the date on which such CAM Exchange occurs.

          “Capital Expenditures” means, for any period, the aggregate of all expenditures
(whether payable in cash or other Property or accrued as a liability (but without duplication))
during such period that, in conformity with GAAP, are required to be classified as capital
expenditures but excluding (a) interest capitalized relating to and during construction of
Property, (b) expenditures made in connection with the replacement or restoration of Property to
the extent reimbursed or financed from insurance or condemnation proceeds not constituting net cash
proceeds of sale of such Property and (c) expenditures made with the proceeds from the sales of
similar Property to the extent such sales and reinvestments are otherwise permitted under this
Agreement.

          “Capital Lease” means, as applied to any Person, any lease of any property (whether
real, personal or mixed) by that Person as lessee which, in conformity with GAAP, is accounted for
as a capital lease on the balance sheet of that Person.

          “Capital Stock” means, with respect to any Person, any shares of common or preferred
stock, any other equity securities, any limited liability company interests, any general or limited
partnership interests or other equivalents of such Person, regardless of class or designation, and
all warrants, options, purchase rights, conversion or exchange rights, voting rights, calls or
claims of any character with respect thereto.

          “Cash Collateral” means immediately available cash or Cash Equivalents in any
Concentration Account or Cash Collateral Account under the “control” (within the meaning of Section
9-104 of the Uniform Commercial Code or in the case of Cash Collateral of the Multicurrency
Borrowers, within the meaning of applicable law) of the Administrative Agent, as security for any
of the Obligations.

          “Cash Collateralize” means, in respect of an obligation, provide and pledge (as a
first priority perfected security interest in favor of the Administrative Agent) cash collateral in
Dollars, at a location and pursuant to documentation in form and substance reasonably satisfactory
to the Administrative Agent (and “Cash Collateralization” has a corresponding meaning).

-7-

 

          “Cash Collateral Accounts” means, collectively, the Domestic Cash Collateral Account
and the Multicurrency Cash Collateral Accounts.

          “Cash Equivalents” means (a) marketable direct obligations issued or unconditionally
guaranteed by the United States government and backed by the full faith and credit of the United
States government; (b) repurchase agreements on obligations of the type specified in clause (a)
above with respect to which, at the time of acquisition, the senior long-term debt of the party
agreeing to repurchase such obligations is rated AAA (or better) by Standard & Poor’s Corporation
(or its successors) or Aaa (or better) by Moody’s Investors Service, Inc. (or its successors); (c)
domestic and Eurodollar certificates of deposit and time deposits, bankers’ acceptances and
floating rate certificates of deposit issued by any commercial bank organized under the laws of the
United States, any state thereof, the District of Columbia, any foreign bank, or its branches or
agencies (fully protected against currency fluctuations), which, at the time of acquisition, are
rated A-1 (or better) by Standard & Poor’s Corporation (or its successors) or P-1 (or better) by
Moody’s Investors Service, Inc. (or its successors); (d) commercial paper of United States and
foreign banks and bank holding companies and their subsidiaries and United States and foreign
finance, commercial industrial or utility companies which, at the time of acquisition, are rated
A-1 (or better) by Standard & Poor’s Corporation (or its successors) or P-1 (or better) by Moody’s
Investors Service, Inc. (or its successors); (e) marketable direct obligations of any state of the
United States of America or any political subdivision of any such state given on the date of such
investment the highest credit rating by Moody’s Investors Service, Inc. (or its successors) and
Standard & Poor’s Corporation (or its successors); or (f) securities of money market funds rated Am
(or better) by Standard & Poor’s Corporation (or its successors) or A (or better) by Moody’s
Investors Service, Inc. (or its successors); provided, that the maturities of any such Cash
Equivalents referred to in clauses (a), (c), (d) and (e)
shall not exceed 270 days.

          “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, 42 U.S.C. §§ 9601 et seq., any amendments thereto, any successor
statutes, and any regulations or legally enforceable guidance promulgated thereunder.

          “CERCLIS” is defined in Section 6.01(o).

          “Change of Control” means any of the following shall occur:

          (a) any Person or group of Persons (within the meaning of Section 13(d) or 14(d) of the
Securities Exchange Act) other than one or more Permitted Holders, is or becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 promulgated by the Commission under said Act), either
directly or indirectly, of twenty-five percent (25%) or more of the total voting power of the
outstanding Voting Stock of any Relevant Person; provided, however, that the Permitted Holders
beneficially own (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act), directly
or indirectly, in the aggregate a lesser percentage of the total voting power of the Voting Stock
of such Relevant Person than such other person and do not have the right or ability by voting
power, contract or otherwise to elect or designate for election a majority of the Board of
Directors of such Relevant Person;

          (b) individuals who on the Closing Date constituted the Board of Directors of any Relevant
Person (together with any new directors whose election by such Board of Directors of such Relevant
Person or whose nomination for election by the stockholders of such Relevant Person was approved by
the Permitted Holders or by a vote of a majority of the directors of such Relevant Person then
still in office who were either directors on the Closing Date or whose election or nomination for
election was previously so approved) cease for any reason to constitute a majority of the Board of
Directors of such Relevant Person then in office;

-8-

 

          (c) the adoption of a plan relating to the liquidation or dissolution of any Credit Party or
Relevant Person (other than to the extent permitted in Section 9.09);

          (d) the merger or consolidation of any Credit Party with or into another Person or the merger
of another Person with or into any Credit Party, or the sale of all or substantially all the assets
of any Credit Party to another Person, other than a transaction permitted by Section 9.02
and 9.09; or

          (e) one hundred percent (100%) of the Capital Stock of any Borrower ceasing to be owned
(directly or indirectly) by NMHG Holding or Hyster-Yale, other than to the extent permitted by
Section 9.02(c) and 9.09, or one hundred percent (100%) of the Capital Stock of any Borrower
ceasing to be pledged to the Administrative Agent pursuant to a Pledge Agreement.

          “CIP Regulations” is defined in Section 12.10.

          “Citibank” means Citibank, N.A., a national banking association.

          “Claim” means any claim or demand, by any Person, of whatsoever kind or nature for any
alleged Liabilities and Costs, whether based in contract, tort, implied or express warranty, strict
liability, criminal or civil statute, Permit, ordinance or regulation, common law or otherwise.

          “Closing Date” means June 30, 2010.

          “Closing List” is defined in Section 5.01(a)(i).

          “CNAI” is defined in the preamble.

          “CNAI Affiliates” means all Affiliates of CNAI.

          “Collateral” means all Property and interests in Property and proceeds thereof
(including, but not limited to, all accounts, Receivables, deposit accounts, Bank Accounts, chattel
paper, instruments, investment property, Inventory, General Intangibles, documents, commercial tort
claims, and proceeds thereof) now owned or hereafter acquired by any Credit Party upon which a Lien
is granted under any of the Loan Documents, provided, that the Collateral shall not include any
Equipment, Real Property, fixtures or improvements thereon.

          “Collateral Access Agreement” means (a) a landlord waiver (with a copy of the relevant
Lease attached) with respect to personal property located at real property leased by any Credit
Party, substantially in the form of Exhibit D-1 attached hereto (with such modifications as
the Administrative Agent may approve in its sole discretion), (b) a bailee waiver with respect to
Property maintained by a Credit Party with a Bailee, substantially in the form of Exhibit
D-2 attached hereto (with such modifications as the Administrative Agent may approve in its
sole discretion), and (c) a waiver with respect to Collateral that is the subject of a bill of
lading executed by the issuer of such bill of lading and the agent for the destination named in
such bill of lading, in form and substance satisfactory to the Administrative Agent.

          “Collection Account Agreement” means:

     (a) with respect to Collection Accounts located in the United States, a collection
account agreement executed by a Collection Account Bank, the applicable Borrower or
Borrowers, and the Administrative Agent substantially in the form of Exhibit E
attached hereto (with such

-9-

 

changes thereto requested by the Collection Account Bank as may be acceptable to the
Administrative Agent and the applicable Borrower or Borrowers, as the case may be), and

     (b) with respect to Collection Accounts located outside of the United States, an
agreement or security agreement between a Multicurrency Borrower, the Administrative Agent
(in its capacity as security holder or otherwise), a Collection Account Bank and such other
parties as may be necessary, which agreement gives the Administrative Agent the control
rights specified therein and security with respect to the Collection Accounts designated
therein, in form and substance satisfactory to the Administrative Agent,

in each case, as the same may be amended, supplemented or otherwise modified from time to time.

          “Collection Account Bank” means each bank which has entered into a Collection Account
Agreement and which is identified as a Collection Account Bank on Schedule 6.01-Z, as such
schedule may be modified from time to time pursuant to Section 3.06.

          “Collection Accounts” means, collectively, the collection accounts in which proceeds
of Collateral are deposited, established at the Collection Account Banks which are subject to a
Collection Account Agreement.

          “Collections” is defined in Section 3.06(b).

          “Commercial Letter of Credit” means any documentary letter of credit Issued by an
Issuing Bank pursuant to Section 2.02 for the account of a Borrower, which is drawable upon
presentation of documents evidencing the sale or shipment of goods purchased by such Borrower in
the ordinary course of its business.

          “Commitment Reallocation Request” is defined in Section 3.01(d).

          “Commitment Reduction Amount” is defined in Section 3.01(d).

          “Commitments” means, collectively, the Domestic Commitments and the Multicurrency
Commitments, as modified from time to time pursuant to the terms hereof. As of the Closing Date,
the aggregate Commitments equal $150,000,000. The aggregate Commitments shall not exceed
$200,000,000 at any time.

          “Commodity Agreement” means any commodity swap, commodity option, forward commodity
contract or other similar agreement or arrangement.

          “Commodity Agreement Exposure” means, with respect to any Borrower at any time and
from time to time, an aggregate amount equal to the then pre-settlement risk of such Borrower
(determined by the applicable counterparty’s customary practices) of each Commodity Agreement
entered into by such Borrower and (x) the Administrative Agent (or an Affiliate of the
Administrative Agent), (y) the Syndication Agent (or an Affiliate of the Syndication Agent) or (z)
any Lender or any Affiliate of a Lender, on or after the Closing Date for the remaining term and
volume of such Commodity Agreement, disregarding (subject to the immediately succeeding sentence)
any Commodity Agreement with respect to which the pre-settlement risk of such Borrower at such time
is positive. If (a) such Borrower is a party to (i) such Commodity Agreement providing for such
Borrower’s purchase of a particular commodity and (ii) a similar Commodity Agreement with the same
counterparty providing for the sale of such commodity and (b) such Borrower and such counterparty
have entered into a netting agreement in form and substance reasonably satisfactory to the
applicable counterparty with respect to

-10-

 

such Commodity Agreements, then the pre-settlement risk of such Borrower and such
counterparties at such time (determined in accordance with the applicable counterparty’s customary
practices) under such Commodity Agreements shall be netted against one another in determining such
Borrower’s aggregate Commodity Agreement Exposure (it being understood and agreed that if any such
netting of Commodity Agreements results in a positive net pre-settlement risk to such Borrower,
such net pre-settlement risk shall be disregarded in the calculation of such Borrower’s aggregate
Commodity Agreement Exposure).

          “Communications” means each notice, demand, communication, information, document and
other material provided for hereunder or under any other Loan Document or otherwise transmitted
between the parties hereto relating this Agreement, the other Loan Documents, any Credit Party or
its Affiliates, or the transactions contemplated by this Agreement or the other Loan Documents.

          “Compliance Certificate” is defined in Section 7.01(e).

          “Concentration Account” means any Domestic Concentration Account or Multicurrency
Concentration Account, and “Concentration Accounts” means, collectively, the Domestic
Concentration Account and the Multicurrency Concentration Accounts.

          “Consolidated EBITDA” means, for any period, (a) Consolidated Net Income for such
period plus (b) to the extent deducted in determining Consolidated Net Income for such
period, but without duplication, the aggregate amount of (i) depreciation and amortization expense,
(ii) Consolidated Interest Expense, (iii) foreign, federal, state and local income taxes, (iv)
extraordinary losses, (v) equity in losses of unconsolidated Subsidiaries and Affiliates, (vi)
accruals for long-term deferred compensation (net of cash payments of deferred compensation accrued
in prior periods), (vii) losses from minority interests in affiliates, (viii) non-recurring
non-cash charges and expenses (including the cumulative effect of any Accounting Changes), (ix)
non-cash expenses relating to the mark to market provision for derivative instruments, (x) cash
receipts related to the termination of any derivative instrument that, as of the end of the prior
period, had a net gain since the inception of such derivative instrument, and (xi) cash dividends
or distributions received from joint ventures in which NACCO Industries, Inc. directly or
indirectly owns a minority interest minus (c) to the extent included in determining
Consolidated Net Income for such period, but without duplication, (i) extraordinary gains, (ii)
equity in earnings of unconsolidated Subsidiaries and Affiliates for such period, (iii) income from
minority interests in affiliates (other than cash dividends or distributions received from joint
ventures in which NMHG Holding directly or indirectly owns a minority interest), (iv) non-recurring
non-cash gains (including the cumulative effect of any Accounting Changes), (v) non-cash income
relating to the mark to market provision for derivative instruments, and (vi) cash payments related
to the termination of any derivative instrument that, as of the end of the prior period, had a net
loss since the inception of such derivative instrument.

          “Consolidated Interest Expense” means, for any period, all as determined in conformity
with GAAP, (a) total interest expense, whether paid or accrued (without duplication) (including the
interest component of Capital Lease obligations), of NMHG Holding and its Subsidiaries on a
consolidated basis, including, without limitation, all recurring bank loan fees and commissions,
discounts and other fees and charges owed with respect to letters of credit, but excluding,
however, amortization of discount, interest paid in property other than cash or any other interest
expense not payable in cash, plus (b) any net payments made during such period under
Interest Rate Contracts minus (c) any net payments received during such period under
Interest Rate Contracts, plus (d) to the extent deducted in determining Consolidated
Interest Expense, any interest income.

-11-

 

          “Consolidated Net Income” means, for any period, the net earnings (or loss) after
taxes of NMHG Holding and its Subsidiaries on a consolidated basis for such period taken as a
single accounting period determined in conformity with GAAP.

          “Constituent Document” means, (a) with respect to any corporation, (i) the
articles/certificate of incorporation (or the equivalent organizational documents) of such entity,
(ii) the bylaws (or the equivalent governing documents) of such entity and (iii) any document
setting forth the designation, amount and/or relative rights, limitations and preferences of any
class or series of such entity’s Capital Stock or any unanimous shareholder agreement pertaining to
any Foreign Subsidiary; (b) with respect to any partnership (whether limited or general), (i) the
certificate of partnership (or equivalent filings), (ii) the partnership agreement (or equivalent
organizational documents) of such partnership and (iii) any document setting forth the designation,
amount and/or rights, limitations and preferences of any of such partnership’s partnership
interests; and (c) with respect to any limited liability company, (i) the articles of organization
(or the equivalent organizational documents) of such entity, (ii) the operating agreement (or the
equivalent governing documents) of such entity and (iii) any document setting forth the
designation, amount and/or rights, limitations and preferences of any of such limited liability
company’s membership interests.

          “Contaminant” means any man-made or naturally occurring waste, pollutant, hazardous
substance, radioactive substance or material, toxic substance, hazardous waste, radioactive waste,
special waste, petroleum or petroleum-derived substance or waste, mold, asbestos in any form or
condition, polychlorinated biphenyls, or any hazardous or toxic constituent thereof and includes,
but is not limited to, these terms as defined in Environmental, Health or Safety Requirements of
Law.

          “Contractual Obligation”, as applied to any Person, means any provision of any
Securities issued by that Person or any indenture, mortgage, deed of trust, security agreement,
pledge agreement, guaranty, contract, undertaking, agreement or instrument to which that Person is
a party or by which it or any of its properties is bound, or to which it or any of its properties
is subject.

          “Converted Domestic Borrowing Base Excess” has the meaning set forth in Section
2.01(a)(ii).

          “Credit and Collection Policies” means the credit and collection policy of each
Borrower and each originator of Receivables owned by a Borrower, each in the respective form and
substance attached as Exhibit F attached hereto and satisfactory to the Administrative
Agent.

          “Credit Facility” means either of the Domestic Facility and the Multicurrency
Facility. “Credit Facilities” means, collectively, the Domestic Facility and the
Multicurrency Facility.

          “Credit Facility Outstandings” means, at any particular time:

     (a) with respect to the Domestic Facility, the sum of (i) the outstanding principal
amount of the Swing Loans at such time, plus (ii) the outstanding principal amount
of the Domestic Loans at such time, plus (iii) the Letter of Credit Obligations
outstanding at such time under the Domestic Facility, plus (iv) the aggregate
principal amount of Protective Advances in respect of the Domestic Facility outstanding at
such time; and

     (b) with respect to the Multicurrency Facility, the sum of (i) the Overdraft Line
Commitment, plus (ii) the outstanding principal amount of the Sterling Loans at such
time, plus (iii) the outstanding principal amount of the Euro Loans at such time,
plus (iv) the Letter of Credit Obligations outstanding at such time under the
Multicurrency Facility, plus (v) the aggregate

-12-

 

principal amount of Protective Advances in respect of the Multicurrency Facility
outstanding at such time.

          For purposes of determining the amount of Credit Facility Outstandings (or any component
thereof) in respect of any Revolving Loan which is denominated in Euros or Sterling, such amount
shall equal the Dollar Equivalent of the amount of such currency at the time of determination
thereof.

          “Credit Party” means any Domestic Credit Party or Foreign Credit Party, and
“Credit Parties” means, collectively, the Domestic Credit Parties and the Foreign Credit
Parties.

          “Credit Party Liquidity Condition” means a condition that will be satisfied at any
time so long as the sum of the following is greater than $75,000,000 at such time:

          (i) the aggregate Availability under each Credit Facility at such time

     plus

          (ii) the total amount of Unrestricted Cash on Hand of the Credit Parties.

          “CTA” means the Corporation Tax Act 2009.

          “Currency Agreement” means any foreign exchange contract, currency swap agreement or
other similar agreement or arrangement.

          “Currency Agreement Exposure” means, with respect to any Borrower at any time and from
time to time, an aggregate amount equal to the then pre-settlement risk of such Borrower
(determined by the applicable counterparty’s customary practices) of each Currency Agreement
entered into by such Borrower and (x) the Administrative Agent (or an Affiliate of the
Administrative Agent), (y) the Syndication Agent (or an Affiliate of the Syndication Agent) or (z)
any Lender or any Affiliate of a Lender on or after the Closing Date for the remaining term and
volume of such Currency Agreement, disregarding (subject to the immediately succeeding sentence)
any Currency Agreement with respect to which the pre-settlement risk of such Borrower at such time
is positive. If (a) such Borrower is a party to (i) such Currency Agreement providing for such
Borrower’s purchase of a particular currency and (ii) a similar Currency Agreement with the same
counterparty providing for the sale of such currency and (b) such Borrower and such counterparty
have entered into a netting agreement in form and substance satisfactory to the applicable
counterparty with respect to such Currency Agreements, then the pre-settlement risk of such
Borrower and such counterparties at such time (determined in accordance with the applicable
counterparty’s customary practices) under such Currency Agreements shall be netted against one
another in determining such Borrower’s aggregate Currency Agreement Exposure (it being understood
and agreed that if any such netting of Currency Agreements results in a positive net pre-settlement
risk to such Borrower, such net pre-settlement risk shall be disregarded in the calculation of such
Borrower’s aggregate Currency Agreement Exposure).

          “Customary Permitted Liens” means

          (a) Liens (other than Environmental Liens and Liens in favor of the PBGC) with respect to the
payment of taxes, assessments or governmental charges in all cases which are not yet due or which
are not required to be paid pursuant to Section 8.04;

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          (b) statutory Liens of landlords and Liens of mechanics, carriers, materialmen, consignors,
warehousemen, or workmen and other Liens imposed by law created in the ordinary course of business
for amounts not yet due or which are being contested in good faith by appropriate proceedings and
with respect to which adequate reserves or other appropriate provisions are being maintained in
accordance with GAAP, provided that the foregoing shall not include statutory or contractual rights
of title retention on Inventory;

          (c) Liens (other than any Lien in favor of the PBGC) incurred or deposits made in the ordinary
course of business in connection with worker’s compensation, unemployment insurance or other types
of social security benefits or to secure the performance of bids, tenders, sales, surety, appeal
and performance bonds, trade, contracts (not constituting Indebtedness), regulatory or statutory
obligations, government contracts or other obligations of a like nature provided in the ordinary
course of business; provided that all such Liens do not in the aggregate detract from the value of
any Borrower’s or any of its Subsidiaries’ assets or Property or impair the use thereof in the
operation of their respective businesses; and

          (d) Liens arising with respect to zoning restrictions, easements, licenses, reservations,
covenants, rights-of-way, utility easements, building restrictions and other similar charges or
encumbrances on the use of Real Property which do not interfere with the ordinary conduct of the
business of any Borrower or its Subsidiaries.

          “DB Allocable Amount” is defined in Section 13.06.

          “DB Payment” is defined in Section 13.06.

          “Default” means an event which, with the giving of notice or the lapse of time, or
both, would constitute an Event of Default.

          “Defaulting Lender” means, at any time, a Lender as to which the Administrative Agent
has notified a Borrower that:

     (a) such Lender has failed for three (3) or more Business Days to comply with its
obligations under this Agreement to make a Loan, make a payment to an Issuing Bank in
respect of a participation interest in a Letter of Credit and/or make a payment to the Swing
Loan Bank in respect of a Swing Loan and/or make a payment to the Overdraft Line Bank in
respect of an Overdraft Loan and/or make any payment required under Article XV
hereof (each a “funding obligation”);

     (b) such Lender has notified the Administrative Agent, or has stated publicly, that it
will not comply with any such funding obligation hereunder, or has defaulted on its funding
obligations under any other loan agreement or credit agreement or other similar/other
financing agreement;

     (c) such Lender has, for three (3) or more Business Days, failed to confirm in writing
to the Administrative Agent, in response to a written request of the Administrative Agent,
that it will comply with its funding obligations hereunder; or

     (d) a Lender Insolvency Event has occurred and is continuing with respect to such
Lender (provided that neither the reallocation of funding obligations provided for
in Section 3.07(a) as a result of a Lender’s being a Defaulting Lender nor the
performance by Non-Defaulting Lenders of

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such reallocated funding obligations will by themselves cause the relevant Defaulting
Lender to become a Non-Defaulting Lender).

Any determination that a Lender is a Defaulting Lender under clauses (a) through (d) above will be
made by the Administrative Agent in its sole discretion acting in good faith. The Administrative
Agent will promptly send to all parties hereto a copy of any notice to the Borrowers provided for
in this definition.

          “Departing Lender” means each lender under the Previous Agreement that executes and
delivers to the Administrative Agent a Departing Lender Signature Page. A Departing Lender is not
a “Lender” under this Agreement.

          “Departing Lender Signature Page” means each signature page to this Agreement on which
it is indicated that the Departing Lender executing the same shall cease to be a party to the
Previous Agreement on the Closing Date.

          “Designated Person” is defined in Section 6.01(ff).

          “Disbursement Accounts” means, collectively, the disbursement account of each Borrower
as set forth on Schedule 6.01-Z.

          “Distribution Subsidiary” means any Subsidiary as of the Closing Date of NMHG
Distribution B.V. or Hyster Singapore Pte Ltd.

          “DOL” means the United States Department of Labor and any Person succeeding to the
functions thereof.

          “Dollar Equivalent” means, with respect to any amount denominated in a Specified
Foreign Currency on the date of determination thereof, the equivalent of such amount in Dollars
determined at the rate of exchange equal to the Spot Rate on such date of determination.

          “Dollars” and “$” mean the lawful money of the United States.

          “Domestic Borrower Guaranty” means (a) the Amended and Restated Domestic Borrower
Guaranty dated as of the Closing Date duly executed and delivered to the Administrative Agent by
each of the Domestic Guarantors with respect to the Domestic Obligations, substantially in the form
and substance of Exhibit G-1 attached hereto, and (b) each Domestic Borrower Guaranty,
substantially in the form and substance of Exhibit G-1 attached hereto, required to be
executed and delivered by a Domestic Subsidiary pursuant to Section 9.07, as each of the
same may be further amended, supplemented or otherwise modified from time to time.

          “Domestic Borrowers” means, collectively, NMHG Holding and NMHG.

          “Domestic Borrowing Base” means, as of any date of determination, with respect to the
Domestic Borrowers, an amount equal to the sum of:

          (a) up to 85.0% (or such other higher percentage as agreed to by all Lenders in their sole
discretion) of the unpaid balance of all Eligible Domestic Receivables plus

          (b) (i) until the date following the Closing Date upon which a new appraisal of the Domestic
Inventory in form and substance reasonably acceptable to the Administrative Agent is delivered to
the Administrative Agent, the lesser of:

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          (A) $50,000,000; and

          (B) 29.0% of the lower of cost or market of Eligible Domestic Inventory; and

          (ii) at all times thereafter, the least of:

          (A) $50,000,000,

          (B) 45.0% of the lower of cost or market of Eligible Domestic Inventory

          (C) the sum of the products of the Inventory Advance Rate multiplied by the Net
Orderly Liquidation Value of each category of Eligible Domestic Inventory set forth on the
Domestic Borrowers’ Borrowing Base Certificate

          minus

          (c) the Specified Availability Block as of such date.

For purposes of this definition, the value or balance, as applicable, of Eligible Domestic
Inventory and Eligible Domestic Receivables shall be determined after deduction of all Eligibility
Reserves then effective with respect to such items.

          “Domestic Cash Collateral Account” means an account designated as such and established
by the Administrative Agent in the name of the Administrative Agent maintained with Citibank in New
York, New York.

          “Domestic Collateral” means all Collateral of the Domestic Credit Parties.

          “Domestic Commitment” means the commitment of each Domestic Lender to make Domestic
Loans (including Domestic Loans required to be made pursuant to Section 2.01(g) and
2.02(e)(ii) to the Domestic Borrowers) and to participate in Letters of Credit Issued for
the account of the Domestic Borrowers in an aggregate principal amount (after giving effect to all
participations purchased by and from such Domestic Lender) outstanding not to exceed, as of the
Closing Date, the amount set forth opposite such Domestic Lender’s name on Schedule 1.01.1
under the caption “Domestic Commitment”, as such amount may be modified pursuant to this Agreement
(including pursuant to any Assignment and Acceptance). As of the Closing Date, the aggregate
Domestic Commitments of all Domestic Lenders shall equal $50,000,000.

          “Domestic Concentration Account” means account number 30508139, in the name of the
Administrative Agent, maintained with Citibank in New York, New York.

          “Domestic Credit Party” means any Domestic Borrower or any Domestic Guarantor, and
“Domestic Credit Parties” means, collectively, the Domestic Borrowers and the Domestic
Guarantors.

          “Domestic Facility” means the facility provided by the Domestic Lenders to make
Domestic Loans to, and to Issue Letters of Credit for the account of, the Domestic Borrowers, and
provided by the Swing Loan Bank to make Swing Loans to the Domestic Borrowers, in each case in
accordance with the terms and conditions contained in this Agreement.

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          “Domestic Guarantor” means each Domestic Subsidiary (other than a Domestic Borrower)
which is (a) designated on Schedule 1.01.2 or (b) required under Section 9.07 to be
a party to a Domestic Borrower Guaranty and/or a Multicurrency Borrower Guaranty.

          “Domestic Lenders” means the Lenders designated as such on Schedule 1.01.1
under the caption “Domestic Commitment” and each other institution which is party hereto as a
Domestic Lender pursuant to an Assignment and Acceptance.

          “Domestic Lending Office” means, with respect to any Lender, such Lender’s office,
located in the United States, specified as the “Domestic Lending Office” under its name on the
signature pages hereof or on the Assignment and Acceptance by which it became a Lender or such
other United States office of such Lender as it may from time to time specify by written notice to
the Borrowers and the Administrative Agent.

          “Domestic LIBO Rate” means, with respect to any Interest Period applicable to a
Borrowing of Fixed Rate Loans under the Domestic Facility denominated in Dollars, the interest rate
per annum obtained by dividing:

     (a) the interest rate per annum equal to (A) the offered quotations for deposits in
Dollars for a period comparable to the relevant Interest Period which appears on Reuters
Screen LIBOR01 Page (or such other page as may replace Reuters Screen LIBOR01 Page or the
service as may be nominated by the British Bankers’ Association as the information vendor
for the purpose of displaying British Bankers’ Association Interest Settlement Rates for
deposits in Dollars) at or about 11:00 a.m. (London time) on the applicable Fixed Rate
Determination Date; or (B) if no such interest rate determined under clause (A) is
available, the arithmetic mean (rounded upward to the nearest one-sixteenth of one percent
(0.0625%)) of the interest rates, as supplied to Citibank at its request, quoted by the
“London Reference Banks” to leading banks in the London interbank market at or about 11:00
a.m. (London time) on the applicable Fixed Rate Determination Date for the offering of
deposits in Dollars for a period comparable to the relevant Interest Period, by

     (b) a percentage equal to (i) 100% minus (ii) the Domestic LIBOR Reserve
Percentage in effect on the relevant Fixed Rate Determination Date. The Domestic LIBO Rate
shall be adjusted automatically on and as of the effective date of any change in the
Domestic LIBOR Reserve Percentage.

For purposes of this definition, “Domestic LIBOR Reserve Percentage” means, for any day,
that percentage which is in effect on such day, as prescribed by the Federal Reserve Board for
determining the maximum reserve requirement (including, without limitation, any emergency,
supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System
in New York, New York with deposits exceeding five billion Dollars in respect of “Eurocurrency
Liabilities” (or in respect of any other category of liabilities which includes deposits by
reference to which the interest rate on Fixed Rate Loans is determined or any category of
extensions of credit or other assets which includes loans by a non-United States office of any bank
to United States residents). The Administrative Agent shall provide to any Borrower, upon the
reasonable request of any Borrower, a explanation of any Domestic LIBOR Reserve Percentage used in
the determination of the Domestic LIBO Rate.

          “Domestic Loan” is defined in Section 2.01(a).

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          “Domestic Loan Notes” means one or more promissory notes payable to the Domestic
Lenders evidencing the Domestic Borrowers’ Obligations to repay the Domestic Loans made to such
Borrowers, substantially in the form and substance of Exhibit Q-1 attached hereto.

          “Domestic Obligations” means the Obligations of the Domestic Borrowers and the
Domestic Guarantors under the Domestic Facility.

          “Domestic Security Agreement” means (a) the Security Agreement dated as of May 9, 2002
by and between the Domestic Credit Parties and the Administrative Agent, substantially in the form
and substance of Exhibit H attached hereto, and (b) each Security Agreement executed and
delivered by a Domestic Subsidiary, substantially in the form and substance of Exhibit H
attached hereto, pursuant to Section 9.07, as each of the same may be further amended,
supplemented or otherwise modified from time to time.

          “Domestic Subsidiary” means any Subsidiary of NMHG Holding organized in the United
States or any state or territory thereof.

          “Dutch Pledges” means any and all Pledge Agreements, Foreign Security Agreements or
other Security Documents creating a right of pledge (pandrechten) under the laws of the
Netherlands.

          “Eligibility Reserves” means such amounts as the Administrative Agent, in the exercise
of its sole discretion in accordance with the Administrative Agent’s customary practices, may from
time to time establish against the gross amounts of Eligible Foreign Receivables, Eligible Domestic
Receivables, Eligible Foreign Inventory and Eligible Domestic Inventory to reflect risks or
contingencies arising after the Closing Date and which have not already been taken into account in
the determination of Eligible Foreign Receivables, Eligible Domestic Receivables, Eligible Foreign
Inventory, and Eligible Domestic Inventory.

          “Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative
Agent, (ii) each Issuing Bank, and (iii) unless an Event of Default has occurred and is continuing,
any Borrower (each such approval not to be unreasonably withheld or delayed); provided, that
notwithstanding the foregoing, “Eligible Assignee” shall not include any Borrower or any Affiliates
of any Borrower or the Borrower Subsidiaries.

          “Eligible Domestic Inventory” means Inventory owned by a Domestic Borrower:

          (a) with respect to which the Administrative Agent has a valid and perfected first priority
Lien (subject only to Customary Permitted Liens),

          (b) with respect to which no representation, warranty or covenant contained in any of the Loan
Documents has been breached,

          (c) which is not in the sole discretion of the Administrative Agent (exercised in accordance
with the Administrative Agent’s customary practices), obsolete, unmerchantable or subject to any
statutory, contractual or other title retention or similar agreement or arrangement,

          (d) (i) located in the United States or (ii) in transit to the United States from a
Multicurrency Borrower and as to which the issuer of the related bill of lading and the agent at
the destination named in such bill of lading have executed a Collateral Access Agreement, and

-18-

 

          (e) which the Administrative Agent deems to be Eligible Domestic Inventory, based on such
credit and collateral considerations as the Administrative Agent deems appropriate.

Except as otherwise agreed to by the Administrative Agent, no Inventory of any Domestic Borrower
shall be Eligible Domestic Inventory if such Inventory is located, stored, used or held at leased
premises or the premises of a Bailee unless (i) the Administrative Agent shall have received a
Collateral Access Agreement from such third party unless, solely with respect to Inventory located
in the United States of America (including its territories and possessions), the Borrowers are not
required to use best efforts to obtain a Collateral Access Agreement at the location thereof
pursuant to Section 8.11 and (ii) appropriate UCC-1 financing statements shall have been
executed or, in the case of Inventory which is located, stored, used or held outside the United
States of America (including its territories and possessions), other appropriate action
satisfactory to the Administrative Agent shall have been taken to make the rights of the
Administrative Agent in such Inventory effective against third parties, with respect to such
location. The Administrative Agent reserves the right to create, from time to time, additional
categories of ineligible Inventory.

          “Eligible Domestic Receivable” means a Receivable owned by a Domestic Borrower:

          (i) (A) The account debtor of which is located in the United States of America
or Canada, is not an Affiliate of any Domestic Borrower (other than a Financing
Affiliate or Hyster New England, Inc., a Delaware corporation), is not a foreign
governmental authority, and is otherwise approved of by the Administrative Agent, (B)
is an Eligible L/C Backed Domestic Receivable, (C) is an Eligible Supported Domestic
Receivable, or (D) the account debtor of which is a Financing Affiliate and the
Financing Agreement specified in clause (b) of the definition thereof is in
full force and effect;

          (ii) To the extent the aggregate amount of all Receivables owing by the account
debtor thereof to the Domestic Borrowers do not exceed a credit limit determined by
the Administrative Agent;

          (iii) With respect to which less than 50% of all Receivables owing by the
account debtor thereof to the Domestic Borrowers are ineligible for any reason other
than a failure to satisfy clause (ii) above;

          (iv) The account debtor of which has not suffered a bankruptcy, insolvency or
similar event and the terms of which have not been re-written, extended or
restructured due to such account debtor’s inability to pay;

          (v) The term of which is not longer than 90 days unless otherwise permitted by
the Administrative Agent in its sole discretion;

          (vi) Which does not remain unpaid for more than 60 days from the due date or 90
days from the invoice date thereof, unless otherwise permitted by the Administrative
Agent in its sole discretion, or which the Administrative Agent does not otherwise
believe the payment thereunder is insecure or may not be paid to the account debtor’s
financial condition;

          (vii) Which, pursuant to the applicable Domestic Borrower’s Credit and
Collection Policy, has not been or should not have been written off as uncollectible;

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          (viii) Which arises out of (A) a sale of goods (or rendering of services) or (B)
a rental by NMHG Distribution as the lessor of goods owned by NMHG Distribution for
periods of time less than or equal to 90 days (but only to the extent of unpaid
invoices for rent in arrears), and, in each case, is made in the ordinary course of
business;

          (ix) Which is in conformity with the representations, warranties and covenants
in the Loan Documents;

          (x) Which does not contravene any laws, rules or regulations applicable thereto
and with respect to which no party to the contract related thereto is in violation of
any such law, rule or regulation (including doing business and local licensing
requirements);

          (xi) (A) Which is not subject to any right of setoff, offset, rescission,
recoupment, counterclaim or defense or any dispute by the account debtor thereof
(provided that only 125.0% of the amount subject to setoff, offset, rescission,
recoupment, counterclaim, defense or dispute shall be deemed ineligible) and (B) if
the account debtor or any of its Affiliates is also such Borrower’s supplier or
creditor and such Receivable is or may become subject to any right of setoff by the
account debtor, such account debtor has entered into an agreement with the Agent with
respect to the waiver of rights of setoff;

          (xii) Which was originated in accordance with all applicable requirements of the
applicable Domestic Borrower’s Credit and Collection Policies;

          (xiii) That represents the genuine, legal, valid and binding obligation of the
account debtor thereunder enforceable in accordance with its terms;

          (xiv) The sale of which is not on a “shipped not billed”, bill-and-hold,
guaranteed sale, sale-and-return, sale on approval, consignment or any other
repurchase or return basis;

          (xv) The goods, the delivery of which has given rise to such Receivable, have
been delivered to and not rejected by the account debtor thereunder, or the services,
the performance of which has given rise to such Receivable, have been performed and
have not been rejected by the account debtor thereunder;

          (xvi) In which the Administrative Agent has a valid and perfected first priority
security interest and which is free and clear of any other Liens (other than the
Customary Permitted Liens specified in clauses (a) and (b) of the definition
thereof), and, if such Receivable constitutes “chattel paper” within the meaning of
the Uniform Commercial Code, such Borrower has complied with Section 8.06(c);

          (xvii) If the account debtor of which is located in the state of New Jersey or
Minnesota, such Borrower has filed and maintained effective a current Business
Activity Report with the appropriate Governmental Authority in such state to the
extent such state requires such filing in order to enforce rights in or against
Collateral or obligors of Collateral located in such state (except in the case such
Borrower is qualified to transact business in such state as a foreign corporation);

          (xviii) Which does not arise out of or in connection with a retainage or similar
arrangement;

-20-

 

          (xix) Which does not arise out of or in connection with a transaction described
in clause (c) of the defined term “Lease Finance Transaction”;

          (xx) Which is not evidenced by an instrument; and

          (xxi) Which is not otherwise deemed ineligible by the Administrative Agent in
accordance with its customary practices.

          “Eligible Foreign Inventory” means Inventory owned by the Operating Multicurrency
Borrowers:

          (a) with respect to which the Administrative Agent has a valid and perfected first priority
Lien, first floating charge or similar non-possessory interest (subject, in each case, only to
Customary Permitted Liens specified in clauses (a) and (b) of the definition
thereof),

          (b) with respect to which no representation, warranty or covenant contained in any of the Loan
Documents has been breached,

          (c) which is not in the sole discretion of the Administrative Agent (exercised in accordance
with the Administrative Agent’s customary practices), obsolete, unmerchantable or subject to any
statutory, contractual or other title retention or similar agreement or arrangement,

          (d) (i) located on the premises of an Operating Multicurrency Borrower in the United Kingdom
or the Netherlands or (ii) in transit from the premises or warehouses of any Domestic Borrower to
the premises of any Operating Multicurrency Borrower or in transit from the premises of any
Operating Multicurrency Borrower to the premises of such or any other Operating Multicurrency
Borrower and as to which the issuer of the related bill of lading (or other applicable document
issued by a transporter under applicable law with respect to Inventory in transit) and the agent at
the destination named in such bill of lading (or other applicable document issued by a transporter
under applicable law with respect to Inventory in transit) have executed a Collateral Access
Agreement, and (iii) as to which the related bill of lading (or other applicable document issued by
a transporter under applicable law with respect to Inventory in transit) is not a negotiable bill
of lading (or negotiable document), and

          (e) which the Administrative Agent deems to be Eligible Foreign Inventory, based on such
credit and collateral considerations as the Administrative Agent deems appropriate.

          Except as otherwise agreed to by the Administrative Agent, no Inventory of any Operating
Multicurrency Borrower shall be Eligible Foreign Inventory if such Inventory is located, stored,
used or held at leased premises or the premises of a third party unless other appropriate action
satisfactory to the Administrative Agent shall have been taken to make the rights of the
Administrative Agent in such Inventory effective against third parties, with respect to such
location. The Administrative Agent reserves the right to create, from time to time, additional
categories of ineligible Inventory.

          “Eligible Foreign Receivable” means any Receivable of the UK Borrower:

          (i) The account debtor of which is not domiciled in a country (A) the national
governmental authority of which is in default of its foreign debts or has prohibited
the sale of foreign exchange or is in debt moratorium, or shall have ceased to be a
member of the International Monetary Fund, or (B) with respect to which the United
States shall have imposed economic sanctions under Title 31 Part 500 et. seq. of the
U.S. Code of Federal Regulations;

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     (ii) (A) The account debtor of which is located in the United Kingdom, the
Netherlands, the United States or any other country that is a member of the
Organization for Economic Cooperation and Development approved from time to time
(unless disapproved from time to time by the Administrative Agent), which shall
initially include Australia, Austria, Belgium, Denmark, Finland, France, Germany,
Iceland, Ireland, Italy, Japan, Luxembourg, New Zealand, Norway, Portugal, Spain,
Sweden, and Switzerland, (B) which is an Eligible L/C Backed Foreign Receivable or (c)
which is an Eligible Supported Foreign Receivable;

     (iii) The account debtor of which is not an Affiliate of any Borrower or a
governmental authority, and is otherwise approved of by the Administrative Agent;

     (iv) (A) With respect to Receivables purchased by the UK Borrower pursuant to
the Receivables Sale Agreements, true sale opinions with respect to such transfers
have been delivered to the satisfaction of the Administrative Agent and the
representations and warranties set forth in Section 6.01(dd) are true and
correct in all respects, and (B) with respect to any Receivables purchased by the UK
Borrower from the Italian Receivables Seller pursuant to a Receivables Sale Agreement,
the UK Borrower provides at least 45 days’ prior written notice to the Administrative
Agent that the UK Borrower seeks to include such Receivables as Eligible Foreign
Receivables (which notice shall include the effective date from which the UK Borrower
seeks to include such Receivables as Eligible Foreign Receivables and a description in
reasonable detail of the procedures by which the UK Borrower and the Italian
Receivables Seller intend to satisfy the requirements of clause (i) or (ii) below, as
applicable) and (i) all the relevant notices to the account debtors (complying with
all requirements of Italian law), together with a written or electronic instrument
bearing a date certain at law, have been delivered to such account debtors (in
compliance with all requirements of Italian law), or (ii) in the event of any change
in Italian law after the Closing Date, the UK Borrower provides evidence in form and
substance reasonably satisfactory to the Administrative Agent that (x) the assignment
of the Receivables originated by the Italian Receivables Seller to the UK Borrower is
valid and enforceable, in accordance with English, Italian and any other applicable
laws, against the Italian Receivables Seller, the UK Borrower, any relevant account
debtor and all relevant third parties (including, without limitation, any receiver in
bankruptcy, liquidator, administrative receiver or other similar official under any
applicable law of the Italian Receivables Seller, the UK Borrower and such account
debtor) and (y) the Administrative Agent has a valid and enforceable security interest
in such Receivables, in accordance with, English, Italian and any other applicable
laws, against the Italian Receivables Seller, the UK Borrower, any relevant account
debtor and all relevant third parties (including, without limitation, any receiver in
bankruptcy, liquidator, administrative receiver or any similar official under any
applicable law of the Italian Receivables Seller, the UK Borrower and such account
debtor);

     (v) To the extent all Receivables owing by the account debtor thereof to the UK
Borrower do not exceed a credit limit determined by the Administrative Agent;

     (vi) With respect to which less than 50% of all Receivables of the UK Borrower
owing by the account debtor thereof are ineligible for any reason other than a failure
to satisfy clause (v) above;

     (vii) The account debtor of which has not suffered a bankruptcy, insolvency or
similar event, or had an administrator or analogous officer appointed, and the terms
of

-22-

 

which have not been re-written, extended or restructured due to such account
debtor’s inability to pay;

     (viii) The term of which is not longer than 90 days unless otherwise permitted
by the Administrative Agent in its sole discretion;

     (ix) Which does not remain unpaid for more than 60 days from the due date or 90
days from the invoice date thereof, unless otherwise permitted by the Administrative
Agent in its sole discretion, or which the Administrative Agent does not otherwise
believe the payment thereunder is insecure or may not be paid due to the account
debtor’s financial condition;

     (x) Which, pursuant to the UK Borrower’s Credit and Collection Policy, has not
been or should not have been written off as uncollectible;

     (xi) Which arises out of a sale of goods (or rendering of services) by a Foreign
Credit Party made in the ordinary course of business;

     (xii) Which is in conformity with the representations, warranties and covenants
in the Loan Documents;

     (xiii) Which does not contravene any laws, rules or regulations applicable
thereto and with respect to which no party to the contract related thereto is in
violation of any such law, rule or regulation (including doing business and local
licensing requirements);

     (xiv) (A) Which is not subject to any right of setoff, offset, rescission,
recoupment, counterclaim or defense or any dispute by the account debtor thereof
(provided that only 125.0% of the amount subject to setoff, offset, rescission,
recoupment, counterclaim, defense or dispute shall be deemed ineligible) and (B) if
the account debtor or any of its Affiliates is also such Borrower’s supplier or
creditor and such Receivable is or may become subject to any right of setoff by the
account debtor, such account debtor has entered into an agreement with the Agent with
respect to the waiver of rights of setoff;

     (xv) Which was originated (or, solely with respect to purchases by the UK
Borrower in accordance with clause (iv) above, originated by a Netherlands
Borrower or by NACCO Materials Handling S.R.L.) in accordance with all applicable
requirements of the UK Borrower’s Credit and Collection Policies;

     (xvi) That represents the lawful, valid and binding obligation of the account
debtor thereunder enforceable in accordance with its terms;

     (xvii) The sale of which is not on a “shipped not billed”, bill-and-hold,
guaranteed sale, sale-and-return, sale on approval, consignment or any other
repurchase or return basis;

     (xviii) The goods, the delivery of which has given rise to such Receivable, have
been delivered to and have not been rejected by the account debtor thereunder, or the
services, the performance of which has given rise to such Receivable, have been
performed and have not been rejected by the account debtor thereunder;

     (xix) In which the Administrative Agent has a valid, legal or equitable Lien in
respect of which notice has been given to the relevant account debtor and which is
free and

-23-

 

clear of any other Liens (other than the Customary Permitted Liens specified
in clauses (a) and (b) of the definition thereof);

     (xx) If the account debtor of which is located in the state of New Jersey or
Minnesota, the UK Borrower (or if such Receivables are originated by a Netherlands
Borrower or NACCO Materials Handling S.R.L., such originator) has filed and maintained
effective a current Business Activity Report with the appropriate Governmental
Authority in such state to the extent such state requires such filing in order to
enforce rights in or against Collateral or obligors of Collateral located in such
state (except in the case such Borrower is qualified to transact business in such
state as a foreign corporation);

     (xxi) Which does not arise out of or in connection with a retainage or similar
arrangement;

     (xxii) Which does not arise out of or in connection with a transaction described
in clause (c) of the defined term “Lease Finance Transaction”;

     (xxiii) Which is not evidenced by an instrument;

     (xxiv) if the sale of Inventory giving rise to such Receivable is through an
agent of the UK Borrower (including, without limitation, an Affiliate acting as agent
for the UK Borrower), the agency agreement applicable thereto (A) shall be in form and
substance reasonably satisfactory to the Administrative Agent, (B) shall be
enforceable and in full force and effect under all applicable laws, and (C) shall have
been collaterally assigned to the Administrative Agent pursuant to documentation in
form and substance reasonably satisfactory to the Administrative Agent (and, as to the
matters described in clauses (B)and (C) above, the Administrative
Agent has received such opinions of counsel as the Administrative Agent may reasonably
request); and

     (xxv) Which is not otherwise deemed ineligible by the Administrative Agent in
accordance with its customary practices.

          “Eligible Inventory” means Eligible Domestic Inventory and Eligible Foreign Inventory.

          “Eligible L/C Backed Domestic Receivable” means Eligible Domestic Receivables of a
Domestic Borrower the account debtor of which does not meet the criteria set forth in clause (i)(A)
of the definition of “Eligible Domestic Receivable”, is not an Affiliate of the Domestic Borrower,
and with respect to which the account debtor’s obligations (or that portion of such obligations
which is acceptable to the Administrative Agent) are secured by a letter of credit, guaranty or
eligible bankers’ acceptance having terms, and from such issuers and confirmation banks, as are
reasonably acceptable to the Administrative Agent (which letter of credit, guaranty or acceptance
is subject to the first priority Lien of the Administrative Agent (other than Customary Permitted
Liens specified in clauses (a) and (b) of the definition thereof) under the
Domestic Security Agreement in a manner reasonably satisfactory to the Administrative Agent).

          “Eligible L/C Backed Foreign Receivables” means Eligible Foreign Receivables of the UK
Borrower which arise with respect to a sale to an account debtor located in any country (other than
an approved country specified or referred to in clause (ii)(A) of the defined term “Eligible
Foreign Receivable”) and with respect to which the account debtor’s obligations (or that portion of
such obligations which is acceptable to the Administrative Agent) are secured by a letter of
credit, guaranty or eligible bankers’ acceptance having terms, and from such issuers and
confirmation banks, as are

-24-

 

reasonably acceptable to the Administrative Agent (which letter of
credit, guaranty or acceptance is subject to the valid legal or equitable Lien in respect of which
notice has been given to the relevant obligor in favor of the Administrative Agent (other than
Customary Permitted Liens specified in clauses (a) and (b)) under the Foreign
Security Agreements in a manner reasonably satisfactory to the Administrative Agent).

          “Eligible Receivables” means the Eligible Domestic Receivables and the Eligible
Foreign Receivables.

          “Eligible Supported Domestic Receivable” means Eligible Domestic Receivables of a
Domestic Borrower the account debtor of which does not meet the criteria set forth in clause (i)(A)
of the definition of “Eligible Domestic Receivable”, and which are fully supported by credit
insurance payable to such Domestic Borrower on terms and conditions and from a financial
institution satisfactory to the Administrative Agent; provided that such credit insurance (x) shall
be in full force and effect and not in dispute and (y) shall have been collaterally assigned to the
Administrative Agent pursuant to documentation in form and substance reasonably satisfactory to the
Administrative Agent.

          “Eligible Supported Foreign Receivables” means Eligible Foreign Receivables of the UK
Borrower which arise with respect to sales to account debtors in any country (other than an
approved country specified or referred to in clause (ii)(A) of the defined term “Eligible Foreign
Receivable”), and which are fully supported by credit insurance payable to such Borrower on terms
and conditions and from a financial institution satisfactory to the Administrative Agent; provided
that such credit insurance (x) shall be in full force and effect and not in dispute and (y) shall
have been collaterally assigned to the Administrative Agent pursuant to documentation in form and
substance reasonably satisfactory to the Administrative Agent.

          “Environmental, Health or Safety Requirements of Law” means all Requirements of Law
derived from or relating to federal, state, local and foreign laws, regulations, orders,
ordinances, rules, permits, licenses or other binding determination of any Governmental Authority
relating to or addressing the indoor or outdoor environment, public or worker health or safety,
including but not limited to CERCLA, any other law, regulation, or order relating to the use,
Release, handling, or disposal of any Contaminant, any law, regulation, or order relating to
Remedial Action and any law, regulation, or order relating to workplace or worker safety and
health, and such Requirements of Law as are promulgated by the specifically authorized agent or
agents responsible for administering such Requirements of Law.

          “Environmental Lien” means a Lien in favor of any Governmental Authority for any (a)
liabilities under any Environmental, Health or Safety Requirements of Law, or (b) damages arising
from, or costs incurred by such Governmental Authority in response to, a Release or threatened
Release of a Contaminant into the environment.

          “Environmental Property Transfer Acts” means any applicable Requirement of Law that
conditions, restricts, prohibits or requires any notification or disclosure triggered by the
closure of any Property or the transfer, sale or lease of any Property or deed or title for any
Property for environmental reasons, including, but not limited to, any so-called “Environmental
Cleanup Responsibility Act”, “Responsible Transfer Act”, or “Industrial Site Recovery Act”.

          “Equipment” means, with respect to any Person, all of such Person’s present and future
equipment (as defined in the Uniform Commercial Code).

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time, and any successor statute.

-25-

 

          “ERISA Affiliate” means any trade or business (whether or not incorporated) under
common control with the Borrower within the meaning of Section 414(b) or (c) of the Internal
Revenue Code (and Sections (n) and (o) of the Internal Revenue Code for purposes of provisions
relating to Section 412 of the Internal Revenue Code).

          “Euro” means the “euro”, the official monetary unit of the member nations of the
European Monetary Union.

          “Euro Cash Collateral Account” means an account designated as such with respect to the
Multicurrency Borrowers and established by the Administrative Agent maintained with Citibank in
London, England, for account funds denominated in Euros.

          “Euro Loans” means Multicurrency Loans denominated in Euros and Protective Advances
denominated in Euros, and, in each case, advanced to a Multicurrency Borrower.

          “Euro Overdraft Accounts” means:

          (i) account number 8753733 maintained with Citibank in London, England, in the name of NACCO
BV (or any account that replaces such account); and

          (ii) account number 8753725 maintained with Citibank in London, England, in the name of the UK
Borrower (or any account that replaces such account).

          “Event of Default” means any of the occurrences set forth in Section 11.01
after the expiration of any applicable grace period and the giving of any applicable notice, in
each case as expressly provided in Section 11.01.

          “Excess Borrowing Base Capacity” means, with respect to the Credit Facilities at any
particular time, an amount equal to (a) the sum of the Domestic Borrowing Base and the
Multicurrency Borrowing Base at such time, minus (b) the aggregate amount of any
Availability Reserves applicable to the Credit Facilities in effect at such time, minus (c)
the aggregate Credit Facility Outstandings at such time plus (d) Unrestricted Cash on Hand.

          “Executive Orders” is defined in Section 6.01(ff).

          “Existing Term Loan Agent” means CNAI, as Administrative Agent under the Existing Term
Loan B Credit Agreement.

          “Existing Term Loan B Credit Agreement” means Credit Agreement, dated as of March 22,
2006, by and among NMHG, as Borrower, the financial institutions from time to time a party thereto
as lenders and the Existing Term Loan Agent, as amended, restated, supplemented or otherwise
modified from time to time.

          “Existing Term Loans” means the “Loans” outstanding as of the date hereof under the
Existing Term Loan B Credit Agreement.

          “Fair Market Value” means, with respect to any asset, the value of the consideration
obtainable in a sale of such asset in the open market, assuming a sale by a willing seller to a
willing purchaser dealing at arm’s length and arranged in an orderly manner over a reasonable
period of time, each having reasonable knowledge of the nature and characteristics of such asset,
neither being under any compulsion to act, and, if in excess of $10,000,000, as determined (a) in
good faith by the Board of

-26-

 

Directors of the applicable Borrower and (b) in an appraisal of such
asset, provided that such appraisal was performed relatively contemporaneously with such sale by an
independent third party appraiser and the basic assumptions underlying such appraisal have not
materially changed since the date thereof.

          “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum
equal for each day during such period to the weighted average of the rates on overnight federal
funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as
published for such day (or, if such day is not a Business Day in New York, New York, for the next
preceding Business Day) in New York, New York by the Federal Reserve Bank of New York, or if such
rate is not so published for any day which is a Business Day in New York, New York, the average of
the quotations for such day on such transactions received by the Administrative Agent from three
federal funds brokers of recognized standing selected by the Administrative Agent.

          “Federal Reserve Board” means the Board of Governors of the Federal Reserve System or
any Governmental Authority succeeding to its functions.

          “Financial Covenant Debt” means, with respect to NMHG Holding and its Subsidiaries, at
any time, without duplication, (a) all indebtedness, obligations or other liabilities of such
Persons (i) for borrowed money or evidenced by debt securities, debentures, acceptances, notes or
other similar instruments, (ii) in respect of obligations to redeem, repurchase or exchange for
cash any Securities of any such Person, (iii) to pay the deferred purchase price of property or
services, except accounts payable and accrued expenses arising in the ordinary course of business,
(iv) in respect of the principal component of Capital Lease Obligations, (v) which are
Accommodation Obligations required by GAAP to be classified as debt, or (vi) under conditional sale
or other title retention agreements relating to property purchased by any such Person; (b) all
indebtedness, obligations or other liabilities of such Persons or others secured by a Lien on any
property of any such Person, whether or not such indebtedness, obligations or liabilities are
assumed by any such Person, all as of such time; (c) all preferred stock subject (upon the
occurrence of any contingency or otherwise) to mandatory redemption; and (d) to the extent required
by GAAP to be classified as debt, all contingent Contractual Obligations.

          “Financial Institution” means (a) any Financing Affiliate, (b) any financial
institution listed on Schedule 1.01.9, (c) solely with respect to Lease Finance
Transactions to which the Australian Subsidiaries are a party, any financial institution and (d) in
all other cases, any financial institution from time to time approved by the Administrative Agent.

          “Financial Officer” means, with respect to (a) any Borrower, the chief executive
officer, chief financial officer, the treasurer, the controller or principal accounting officer of
such Borrower, or any other financial officer identified and reasonably acceptable to the
Administrative Agent, or (b) any Foreign Credit Party, a director.

          “Financial Statements” means (a) statements of income and retained earnings,
statements of cash flow, and balance sheets, (b) such other financial statements as NMHG Holding
and its Subsidiaries shall routinely and regularly prepare and (c) such other financial statements
as the Administrative Agent or the Requisite Lenders may from time to time reasonably specify.

          “Financing Affiliate” means NFS or any other Affiliate of the Borrowers party to a
Financing Agreement pursuant to clause (b) of the definition thereof.

          “Financing Agreements” means (a) the International Operating Agreement, dated April
15, 1998, between NMHG and General Electric Capital Corporation, (b) the Restated and Amended Joint
Venture and Shareholders Agreement, dated April 15, 1998, as amended, restated, supplemented or

-27-

 

otherwise modified from time to time, between NMHG and General Electric Capital Corporation and (c)
any agreement or program entered into with a Financial Institution on substantially the same terms
as the International Operating Agreement referred to in clause (a) above or otherwise as
consented to by the Administrative Agent, such consent not to be unreasonably withheld, as any of
the same may be (x) renewed, amended or restated from time to time on substantially the same terms
or otherwise as consented to by the Administrative Agent, such consent not to be unreasonably
withheld or (y) replaced from time to time as consented to by the Administrative Agent, such
consent not to be unreasonably withheld.

          “First Tier Foreign Subsidiary” means each Foreign Subsidiary with respect to which
any one or more of the Domestic Borrowers and their Domestic Subsidiaries directly owns or controls
more than 50% of such Foreign Subsidiary’s Capital Stock.

          “Fiscal Year” means the fiscal year of NMHG Holding, which shall be the 12-month
period ending on December 31 of each calendar year.

          “Fixed Charge Coverage Ratio” means, with respect to any period, the ratio of:

	 	(i)	 	an amount equal to:

	 	(a)	 	Adjusted EBITDA for such period
	 
	 	 	 	minus
	 
	 	(b)	 	Capital Expenditures for such period
	 
	 	to

	 	(ii)	 	an amount equal to:

	 	(a)	 	Scheduled Principal Payments for such period
	 
	 	 	 	plus
	 
	 	(b)	 	cash Consolidated Interest Expense for such period
	 
	 	 	 	plus
	 
	 	(c)	 	all foreign, federal, state and local income
taxes and all franchise taxes that are calculated based on net income
paid in cash during such period (less any cash tax refunds received
during such period)
	 
	 	 	 	plus
	 
	 	(d)	 	any Restricted Payments made in cash during such period.

          “Fixed Rate” means, with respect to any Interest Period applicable to a Borrowing of
Fixed Rate Loans under the applicable Credit Facility denominated in the applicable currency, an
interest rate per annum equal to (a) the Domestic LIBO Rate with respect to Fixed Rate Loans
denominated in Dollars under the Domestic Facility and (b) the Multicurrency LIBO Rate, with
respect to Fixed Rate

-28-

 

Loans denominated in a Specified Foreign Currency under the Multicurrency
Facility, in each case in effect on the relevant Fixed Rate Determination Date.

          “Fixed Rate Affiliate” means, with respect to each Lender, the Affiliate of such
Lender (if any) set forth below such Lender’s name under the heading “Fixed Rate Affiliate” on the
signature pages hereof or on the Assignment and Acceptance by which it became a Lender or such
Affiliate of a Lender as it may from time to time specify by written notice to the Borrowers and
the Administrative Agent.

          “Fixed Rate Determination Date” means, with respect to a Borrowing of Fixed Rate Loans
(a) that are Domestic Loans, the second Business Day prior to the first day of the Interest Period
for any such Borrowing, (b) that are Multicurrency Loans denominated in Euros, the second Business
Day prior to the first day of the Interest Period for any such Borrowing and (c) that are
Multicurrency Loans denominated in Sterling, the first day of the Interest Period for any such
Borrowing.

          “Fixed Rate Interest Payment Date” means (a) with respect to any Fixed Rate Loan, the
last day of each Interest Period applicable to such Loan and (b) with respect to any Fixed Rate
Loan having an Interest Period in excess of three (3) calendar months, the last day of each three
(3) calendar month interval during such Interest Period.

          “Fixed Rate Lending Office” means, with respect to any Lender, the office or offices
of such Lender (if any) set forth below such Lender’s name under the heading “Fixed Rate Lending
Office” on the signature pages hereof or on the Assignment and Acceptance by which it became a
Lender or such office or offices of such Lender as it may from time to time specify by written
notice to the Borrowers and the Administrative Agent. It is understood and agreed that any Lender
may designate one “Fixed Rate Lending Office” for purposes of funding Loans under the Multicurrency
Facility and a different “Fixed Rate Lending Office” for purposes of funding Loans under the
Domestic Facility.

          “Fixed Rate Loans” means all Loans under the Domestic Facility and the Multicurrency
Facility denominated in Dollars or a Specified Foreign Currency, respectively, outstanding which
bear interest at a rate determined by reference to the Fixed Rate applicable to such currency as
provided in Section 4.01(a).

          “Floating Rate” means, for any period applicable to any Floating Rate Loan, a
fluctuating interest rate per annum as shall be in effect from time to time, which rate per annum
shall at all times be equal to the highest of:

     (a) the rate of interest announced publicly by Citibank in New York, New York from time
to time, as Citibank’s base rate;

     (b) the sum (adjusted to the nearest one quarter of one percent (0.25%) or, if there is
no nearest one quarter of one percent (0.25%), to the next higher one quarter of one percent
(0.25%)) of (i) one half of one percent (0.50%) per annum plus (ii) the rate per
annum obtained by dividing (A) the latest three-week moving average of secondary market
morning offering rates in the United States for three-month certificates of deposit of major
United States money market banks, such three-week moving average being determined weekly on
each Monday (or, if such day is not a Business Day, on the next succeeding Business Day) for
the three-week period ending on the previous Friday (or, if such day is not a Business Day,
on the next preceding Business Day) by Citibank on the basis of such rates reported by
certificate of deposit dealers to, and published by, the Federal Reserve Bank of New York,
or, if such publication shall be suspended or terminated, on the basis of quotations for
such rates received by Citibank from three

-29-

 

(3) New York certificate of deposit dealers of
recognized standing selected by Citibank, by (B) a percentage equal to 100% minus the
average of the daily percentages specified during such three-week period by the Federal
Reserve Board for determining the maximum reserve requirement (including, but not limited
to, any emergency, supplemental or other marginal reserve requirement) for Citibank in
respect of liabilities consisting of or including (among other liabilities) three-month
Dollar nonpersonal time deposits in the United States, plus (iii) the average during
such three-week period of the annual assessment rates estimated by Citibank for determining
the then current annual assessment payable by Citibank to the Federal Deposit Insurance
Corporation (or any successor) for insuring Dollar deposits of Citibank in the United
States; and

     (c) the one-month Domestic LIBO Rate at such time plus 1.00% per annum.

          “Floating Rate Loans” means all Loans denominated in Dollars which bear interest at a
rate determined by reference to the Floating Rate as provided in Section 4.01(a).

          “Foreign Account Debtor” is defined in Section 8.10(b).

          “Foreign Collateral” means all Collateral of the Foreign Credit Parties.

          “Foreign Credit Party” means any Multicurrency Borrower or any Foreign Guarantor, and
“Foreign Credit Parties” means, collectively, the Multicurrency Borrowers and the Foreign
Guarantors.

          “Foreign Employee Benefit Plan” means any employee benefit plan as defined in Section
3(3) of ERISA which is maintained or contributed to for the benefit of the employees or former
employees of the Borrowers or any of their Subsidiaries or any employee benefit plan in relation to
which the Borrowers or any of their Subsidiaries has a liability or potential liability, but which
is not covered by ERISA pursuant to Section 4(b)(4) of ERISA.

          “Foreign Guaranties” means collectively, and “Foreign Guaranty” means
individually, (a) each Foreign Guaranty duly executed and delivered to the Administrative Agent by
a Foreign Guarantor substantially in the form and substance of Exhibit G-3 attached hereto,
and (b) each Foreign Guaranty executed and delivered by a Foreign Subsidiary to the Administrative
Agent pursuant to Section 9.07, as each of the same may be further amended, supplemented or
otherwise modified from time to time.

          “Foreign Guarantor” means each Foreign Subsidiary (other than a Multicurrency
Borrower) (a) which is the direct parent of a Multicurrency Borrower or a Subsidiary of any
Multicurrency Borrower, as designated on Schedule 1.01.2, and (b) required under
Section 9.07 to be a party to a Foreign Guaranty.

          “Foreign Pension Plan” means any Foreign Employee Benefit Plan which is a pension plan
as defined in Section 3(2) of ERISA but which is not covered by ERISA pursuant to Section 4(b)(4)
of ERISA and which under applicable local law is required to be funded through a trust or other
funding vehicle other than a trust or funding vehicle maintained by a foreign Governmental
Authority.

          “Foreign Security Agreements” means, inter alias, (a) the Deed of Pledge of Assets by
and between the Netherlands Borrower and the Administrative Agent, (b) the Deed of Pledge of
Receivables by and between the Netherlands Borrower and the Administrative Agent, (c) each other
security agreement dated as of May 9, 2002 duly executed and delivered to the Administrative Agent
by a Foreign Credit Party, (d) the agreements listed on Schedule 1.01.3, and (e) each other
security agreement

-30-

 

executed and delivered by a Foreign Subsidiary pursuant to Section 9.07,
as each of the same may be amended, supplemented or otherwise modified from time to time.

          “Foreign Subsidiary” means any Subsidiary of NMHG Holding that is not a Domestic
Subsidiary.

          “Foreign Working Capital Guaranty” means the Amended and Restated Guaranty dated as of
the Closing Date duly executed and delivered to Citibank by the Borrowers substantially in the form
of Exhibit I attached hereto, as the same may be amended, supplemented or otherwise
modified from time to time.

          “Fund” means any Person (other than a natural person) that is (or will be) engaged in
making, purchasing, holding or otherwise investing in commercial loans of the type contemplated by
this Agreement and similar extensions of credit in the ordinary course of its business.

          “Funding Account” means each account of the Administrative Agent into which fundings
of Loans shall be made, as notified to the Lenders from time to time.

          “Funding Date” means, with respect to any Loan, the date of the funding of such Loan.

          “GAAP” means generally accepted accounting principles (in the United States except as
otherwise specified in this Agreement) set forth in the opinions and pronouncements of the
Accounting Principles Board, the American Institute of Certified Public Accountants and the
Financial Accounting Standards Board or in such other statements by such other entity as may be in
general use by significant segments of the accounting profession as in effect on the Closing Date
(unless otherwise specified herein as in effect on another date or dates).

          “General Intangibles” means, with respect to any Person, all of such Person’s present
and future general intangibles (as defined in the Uniform Commercial Code or in any similar statute
of England and Wales, Scotland, Northern Ireland, any other relevant jurisdiction, or any political
subdivision thereof).

          “Governmental Authority” means any nation or government, any federal, state, province,
territory, regional, local or other political subdivision thereof and any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to
government.

          “Guarantor” means any Domestic Guarantor or Foreign Guarantor, and
“Guarantors” means the Domestic Guarantors and Foreign Guarantors collectively.

          “Holder” means any Person entitled to enforce any of the Obligations, whether or not
such Person holds any evidence of Indebtedness, including, without limitation, the Administrative
Agent, each Lender and each Issuing Bank.

          “Hyster-Yale” means Hyster-Yale Materials Handling, Inc, a Delaware corporation,
together with its successors and assigns.

          “Increasing Lender” is defined in Section 2.03.

          “Indebtedness” means, as applied to any Person, at any time, without duplication, (a)
all indebtedness, obligations or other liabilities of such Person (i) for borrowed money or
evidenced by debt securities, debentures, acceptances, notes or other similar instruments, and any
past due accrued interest,

-31-

 

fees and charges relating thereto, (ii) in respect of obligations (A) to
redeem, repurchase or exchange for cash any Securities of such Person or (B) to pay cash dividends
(or equivalent cash distributions) in respect of any Capital Stock (but only to the extent such
dividends have been declared), (iii) with respect to letters of credit issued for such Person’s
account, (iv) to pay the deferred purchase price of property or services, except accounts payable
and accrued expenses arising in the ordinary course of business, (v) in respect of Capital Leases,
(vi) which are Accommodation Obligations, (vii) under warranties and indemnities; or (viii) under
conditional sale or other title retention agreements relating to property purchased by such Person;
(b) all indebtedness, obligations or other liabilities of such Person or others secured by a Lien
on any property of such Person, whether or not such indebtedness, obligations or liabilities are
assumed by such Person, all as of such time; (c) the fair market value, as determined in accordance
with GAAP, of all indebtedness, obligations or other liabilities of such Person in respect of
Interest Rate Contracts, Currency Agreements and Commodity Agreements, net of liabilities owed to
such Person by the counterparties thereon; (d) all preferred stock subject (upon the occurrence of
any contingency or otherwise) to mandatory redemption; and (e) all contingent Contractual
Obligations with respect to any of the foregoing.

          “Indemnified Matter” is defined in Section 14.03.

          “Indemnitee” is defined in Section 14.03.

          “Independent Qualified Party” means an investment banking firm, accounting firm or
appraisal firm of national standing; provided, however, that such firm is not an Affiliate of any
Borrower.

          “ING Working Capital Line” means that certain unsecured working capital facility in a
principal amount not to exceed 7,000,000 Euros provided by ING Bank N.V. to NACCO BV pursuant to
that certain letter dated January 14, 2000, between ING Bank N.V. and NACCO BV, as amended by that
certain letter dated November 6, 2000, as amended by that certain release dated on or before the
Closing Date, in form and substance satisfactory to the Administrative Agent, as the same may be
refinanced or replaced, provided that such refinancing or replacement is, taken as a whole, on
terms no less favorable to NACCO BV than the terms of, the ING Working Capital Line prior to such
replacement or refinancing; provided, further that if such refinancing or replacement is in an
aggregate principal amount greater than 7,000,000 Euros, any excess amounts shall only be permitted
as allowed in accordance with Section 9.01(q).

          “Initial Projections” means the financial projections presented to the Administrative
Agent and the Lenders on June 3, 2010, with respect to NMHG Holding and its Subsidiaries delivered
by NMHG Holding to the Administrative Agent on or prior to the Closing Date, attached as
Exhibit J hereto.

          “Inter-Borrower Indebtedness” is defined in Section 13.08.

          “Interbank Rate” means, for any period, (a) in respect of Loans denominated in
Dollars, the Federal Funds Rate, and (b) in respect of Loans denominated in a Specified Foreign
Currency, the Overdraft Rate.

          “Interest Period” is defined in Section 4.02(a).

          “Interest Rate Contract” means any interest rate exchange, swap, collar, future,
protection, cap, floor or similar agreements providing interest rate protection.

          “Interest Rate Contract Exposure” means, with respect to any Borrower at any time and
from time to time, an aggregate amount equal to the then pre-settlement risk of such Borrower

-32-

 

(determined by the applicable counterparty’s customary practices) of each Interest Rate Contract
entered into by such Borrower and (x) the Administrative Agent (or an Affiliate of the
Administrative Agent), (y) the Syndication Agent (or an Affiliate of the Syndication Agent) or (z)
any Lender or any Affiliate of a Lender on or after the Closing Date for the remaining term and
volume of such Interest Rate Contract, disregarding (subject to the immediately succeeding
sentence) any such Interest Rate Contract with respect to which the pre-settlement risk of such
Borrower at such time is positive. If (a) such Borrower is a party to more than one Interest Rate
Contract with the same counterparty and (b) such Borrower and such counterparty have entered into a
netting agreement in form and substance satisfactory to the applicable counterparty with respect to
such Interest Rate Contracts, then the pre-settlement risk of such Borrower and such counterparties
at such time (determined by the applicably counterparty’s customary practices) under such Interest
Rate Contracts shall be netted against one another in determining such Borrower’s aggregate
Interest Rate Contract Exposure (it being understood and agreed that if any such netting of
Interest Rate Contracts results in a positive net pre-settlement risk to such Borrower, such net
pre-settlement risk shall be disregarded in the calculation of such Borrower’s aggregate Interest
Rate Contract Exposure).

          “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended to the
date hereof and from time to time hereafter, any successor statute and any regulations or guidance
promulgated thereunder.

          “Inventory” means, with respect to any Person, all of such Person’s present and future
(a) inventory (as defined in the Uniform Commercial Code or in any similar statute of England and
Wales, Scotland, Northern Ireland or any other relevant jurisdiction, or any political subdivision
thereof) (including unbilled accounts receivable), (b) goods, merchandise and other personal
Property furnished or to be furnished under any contract of service or intended for sale or lease,
and all goods consigned by such Person and all other items which have previously constituted
Equipment but are then currently being held for sale or lease in the ordinary course of such
Person’s business, (c) raw materials, work-in-process and finished goods, (d) materials and
supplies of any kind, nature or description used or consumed in such Person’s business or in
connection with the manufacture, production, packing, shipping, advertising, finishing or sale of
any of the Property described in clauses (a) through (d) above, (e) goods in which
such Person has a joint or other interest to the extent of such Person’s interest therein or right
of any kind (including, without limitation, goods in which such Person has an interest or right as
consignee), and (f) goods which are returned to or repossessed by such Person; in each case whether
in the possession of such Person, a bailee, a consignee, or any other Person for sale, storage,
transit, processing, repair, use or otherwise, and any and all documents for or relating to any of
the foregoing.

          “Inventory Advance Rate” means:

          (a) with respect to the Eligible Domestic Inventory, at no time greater than 85.0%, as each
such rate may be decreased from time to time by the Administrative Agent in its sole discretion,
exercised in accordance with the Administrative Agent’s customary practices, with respect to all or
any portion of any category of Eligible Domestic Inventory (as set forth on the Domestic Borrowing
Base Certificate), with any change in such rates to be effective five (5) Business Days after
written notice thereof from the Administrative Agent to any Borrower; and

          (b) with respect to the Eligible Foreign Inventory, at no time greater than 85.0%, as each
such rate may be decreased from time to time by the Administrative Agent in its sole discretion,
exercised in accordance with the Administrative Agent’s customary practices, with respect to all or
any portion of any category of Eligible Foreign Inventory (as set forth on the Multicurrency
Borrowing Base Certificate), with any change in such rates to be effective five (5) Business Days
after written notice thereof from the Administrative Agent to any Borrower.

-33-

 

          “Investment” is defined in Section 9.04.

          “IRS” means the Internal Revenue Service and any Person succeeding to the functions
thereof.

          “Issue” means, with respect to any Letter of Credit, either to issue, or extend the
expiry of, or renew, or increase the amount of, such Letter of Credit, and the terms
“Issued” or “Issuance” shall have corresponding meanings.

          “Issuing Banks” means each of CNAI, Bank of America, N.A. and any other Lender
consented to in writing as an “Issuing Bank” for purposes of this Agreement by the Borrowers, such
other Lender and the Administrative Agent, provided, that each such Person may, in its
discretion, arrange for one or more Letters of Credit to be issued by an Affiliate thereof, as
applicable, in which case the term “Issuing Bank” shall include any such Affiliate with
respect to Letters of Credit issued by such Affiliate.

          “Italian Pledges” means any and all Pledge Agreements, Foreign Security Agreements or
other Security Documents creating a Lien under the laws of Italy.

          “Italian Receivables Seller” means NACCO Materials Handling S.p.A. (f/k/a NACCO
Materials Handling S.R.L.), a joint stock company incorporated under the laws of Italy, registered
with the Register of Enterprises of Modena under No. 14801.

          “Joint Lead Arrangers” means Citigroup Global Markets Inc. and Banc of America
Securities LLC.

          “Knowledge” (and the related term “Know”) means, with respect to any
Borrower’s knowledge, the knowledge of a Financial Officer of such Borrower.

          “LC Reserve Account” is defined in Section 15.02.

          “Lease Finance Transaction” means a transaction under which: (a) a Borrower or
Borrower Subsidiary sells a lift truck to a Financial Institution, (b) such Financial Institution,
as lessor, enters into an Operating Lease with respect to such lift truck with a Borrower or
Borrower Subsidiary, as lessee, and (c) such Borrower or Borrower Subsidiary, as the case may be,
as lessor, enters into an Operating Lease with respect to such lift truck with a customer, as
lessee.

          “Leases” means those leases, tenancies or occupancies entered into by any Borrower or
any of the Borrowers’ respective Subsidiaries, as tenant, sublessor or sublessee either directly or
as the successor in interest to any Borrower or any Affiliates of Borrower.

          “Lender” means, (a) as of the Closing Date, each institution which is a signatory
hereto as a “Lender”, and (b) at any other given time each other institution which is a party
hereto as a Lender, whether as a signatory hereto or pursuant to an Assignment and Acceptance. For
the avoidance of doubt, the term “Lenders” excludes all Departing Lenders.

          “Lender Insolvency Event” means that (i) a Lender or its Parent Company is insolvent,
or is generally unable to pay its debts as they become due, or admits in writing its inability to
pay its debts as they become due, or makes a general assignment for the benefit of its creditors,
or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency,
reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor
or sequestrator or the like has been appointed

-34-

 

for such Lender or its Parent Company, or such
Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or
acquiescence in any such proceeding or appointment.

          “Lender Party Appointment Period” is defined in Section 12.07(b).

          “Letter of Credit” means any Commercial Letter of Credit or Standby Letter of Credit
Issued for the account of any Borrower pursuant to Section 2.02.

          “Letter of Credit Cash Collateralization Conditions” means, in connection with the
extension of the term of any Letter of Credit beyond the termination date required therefor under
clauses (A) and (B) of Section 2.02(a)(iii), (i) (A) the applicable Borrowers’ remittance
to the Administrative Agent of an amount in immediately available funds, denominated in the same
currency in which the Letter of Credit is denominated (or, if approved by the Administrative Agent,
in a U.S. dollar equivalent thereof) equal to at least (x) 105% of the face amount of such Letter
of Credit if such Letter of Credit is issued under the Domestic Facility or (y) 110% of the face
amount of such Letter of Credit if such Letter of Credit is issued under the Multicurrency
Facility, and (B) the deposit of such amount into a Cash Collateral Account in which the
Administrative Agent has a first priority perfected security interest and which Cash Collateral
Account otherwise complies with the requirements of the Loan Documents with respect such types of
accounts, or (ii) the delivery by the applicable Borrowers of an irrevocable standby letter of
credit issued by an issuing bank reasonably acceptable to the Administrative Agent in a form
reasonably acceptable to the Administrative Agent, including, without limitation, the draw
mechanics set forth therein, in a face amount equal to the amount of cash that would be required to
be deposited by the Borrowers pursuant to clause (i) of this definition.

          “Letter of Credit Fee” is defined in Section 4.03(a).

          “Letter of Credit Obligations” means, at any particular time with respect to any
Borrower, the sum of (a) all outstanding Reimbursement Obligations of such Borrower, plus
(b) the aggregate undrawn face amount of all outstanding Letters of Credit issued for the account
of such Borrower (including, without limitation, any Letter of Credit with respect to which,
notwithstanding the termination thereof pursuant to its terms, the beneficiary thereunder has a
right to make drawings thereunder in accordance with applicable law), plus (c) the
aggregate face amount of all Letters of Credit requested by such Borrower but not yet issued
(unless the request for an unissued Letter of Credit has been denied pursuant to Section
2.02). For purposes of determining the amount of Letter of Credit Obligations (or any
component thereof) in respect of any Letter of Credit which is denominated in a Specified Foreign
Currency, such amount shall equal the Dollar Equivalent of the amount of such currency at the time
of determination thereof.

          “Letter of Credit Reimbursement Agreement” means, with respect to a Letter of Credit,
such form of application therefor and form of reimbursement agreement therefor (whether in a single
or several documents, taken together) as the applicable Issuing Bank from which the Letter of
Credit is requested may employ in the ordinary course of business for its own account, with such
modifications thereto as may be agreed upon by such Issuing Bank and the relevant Borrower and as
are not materially adverse (in the reasonable judgment of the Issuing Bank) to the interests of the
Lenders; provided, however, in the event of any conflict between the terms hereof and of any Letter
of Credit Reimbursement Agreement, the terms hereof shall control.

          “Letter of Credit Sublimit” means, at any particular time (a) with respect to the
Domestic Facility, $25,000,000, and (b) with respect to the Multicurrency Facility, $10,000,000.

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          “Leverage Ratio” means, as of the last day of each fiscal quarter, the ratio of (a) an
amount equal to (i) Financial Covenant Debt at such date, minus (ii) Unrestricted Cash On
Hand at such date to (b) Adjusted EBITDA for the four-fiscal-quarter period then ending.

          “Liabilities and Costs” means all liabilities, obligations, responsibilities, losses,
damages, punitive damages, economic damages, consequential damages, treble damages, costs and
expenses (including, without limitation, attorney, expert and consulting fees and costs and fees
associated with any investigation, feasibility or Remedial Action studies), fines, penalties and
monetary sanctions, interest, direct or indirect, known or unknown, absolute or contingent, past,
present or future, including interest, if any, thereon, including, without limitation, those
arising from personal injury, death, intentional, willful or wanton injury, damage or threat to the
environment, natural resources or public health or welfare.

          “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment,
conditional sale agreement, deposit arrangement, security interest, encumbrance, lien (statutory or
other, and including, without limitation, any Environmental Lien), preference, priority, title
retention or other security agreement or preferential arrangement (including, without limitation,
any negative pledge arrangement and any agreement to provide equal and ratable security) of any
kind or nature whatsoever in respect of any property of a Person intended to assure payment of any
Indebtedness, obligation or other liability, whether granted voluntarily or imposed by law, and
includes the interest of a lessor under a Capital Lease or under any financing lease having
substantially the same economic effect as any of the foregoing and the filing of any financing
statement or similar notice (other than a financing statement filed by a “true” lessor pursuant to
the Uniform Commercial Code or any similar statute of England and Wales, Scotland, Northern
Ireland, the Netherlands or any other relevant jurisdiction, or any political subdivision thereof),
naming the owner of such property as debtor, under the Uniform Commercial Code or other comparable
law of any jurisdiction, but does not include the interest of a lessor under an Operating Lease.

          “Lift Truck Financing Guarantee” means guarantees or repurchase or recourse
obligations of a Credit Party, incurred in the ordinary course of business consistent with past
practice, of Indebtedness incurred by a dealer or customer of a dealer, for the purchase or lease
of lift trucks substantially all of which are manufactured or sold by a Credit Party, the proceeds
of which Indebtedness is used by such dealer or customer primarily to pay the purchase price of
such lift trucks and any related reasonable fees and expenses (including financing fees); provided,
however, that (a)(i) with respect to lift trucks located in the United States, the Indebtedness so
guaranteed is secured by a perfected first priority Lien on such lift trucks in favor of the holder
of Indebtedness or a Credit Party and (ii) with respect to lift trucks located outside of the
United States, the Indebtedness so guaranteed is secured by a Lien or other similar security
interest to the extent commercially practicable in the jurisdiction in which such lift trucks are
located and (b) if any Credit Party is required to make payment with respect to such guaranty, such
Credit Party will have the right to either (i) the title to such lift trucks, (ii) a valid
assignment of a perfected first priority Lien or other similar security interest in the lift trucks
or (iii) the net proceeds of any resale of such lift trucks.

          “Liquidity” means, at any time, the sum of the following:

	 	(i)	 	the aggregate Availability under each Credit Facility at such time
	 
	 	 	 	plus
	 
	 	(ii)	 	the total amount of Unrestricted Cash On Hand of the Borrowers, Borrower Subsidiaries and the Guarantors.

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          “Liquidity Condition” means a condition that will be satisfied at any time so long as
Liquidity is greater than or equal to $100,000,000 at such time.

          “Lists” is defined in Section 6.01(ff).

          “Loan Documents” means this Agreement, the Notes, the Domestic Borrower Guaranty, the
Multicurrency Borrower Guaranty, each Foreign Guaranty, the Security Documents, the Proposal
Letter, the Administrative Agent Fee Letter, the Letter of Credit Reimbursement Agreements, the
Foreign Working Capital Guaranty, the Collection Account Agreements, the Multicurrency
Concentration Accounts Agreements, the collateral assignments of the Receivables Sale Agreements,
the Post-Closing Agreement, the collateral assignments of the agreements described in Section
9.02(e)(i), and the other instruments, agreements and written Contractual Obligations executed
or delivered pursuant to Section 5.01(a) of this Agreement by any Credit Party or Pledged
Entity, any Currency Agreements to which the Administrative Agent, the Syndication Agent or any
Affiliate of the Administrative Agent or the Syndication Agent is a party, any Interest Rate
Contracts to which the Administrative Agent, the Syndication Agent or any Affiliate of the
Administrative Agent or the Syndication Agent is a party, any Currency Agreements to which the
Administrative Agent, the Syndication Agent or any Affiliate of the Administrative Agent or the
Syndication Agent is a party, all other instruments, agreements and written Contractual Obligations
between any Credit Party or Pledged Entity, on the one hand, and any of the Administrative Agent,
the Lenders or the Issuing Banks, on the other hand, in each case delivered to either the
Administrative Agent, such Lender or such Issuing Bank before, on or after the Closing Date
pursuant to or in connection with the transactions (including, without limitation, the cash
management arrangements) contemplated by this Agreement, and all other agreements or instruments
executed and delivered or to be executed and delivered pursuant hereto or thereto or in connection
herewith or therewith or any of the transactions contemplated hereby or thereby, as any of the same
may be amended, supplemented or otherwise modified from time to time.

          “Loans” means the Revolving Loans, the Swing Loans and the Overdraft Loans.

          “Lockboxes” means, collectively, the lockboxes established at the Collection Account
Banks for collection of payments in respect of Receivables or other Collateral.

          “Mandatory Cost” is described in Exhibit W.

          “Margin Stock” means “margin stock” as such term is defined in Regulation U.

          “Material Adverse Effect” means a material adverse effect upon (a) the condition
(financial or otherwise), performance, properties or prospects of any Borrower, or the Borrowers
and their Subsidiaries taken as a whole, (b) the ability of any of the Credit Parties to perform
their respective obligations under the Loan Documents or (c) the ability of the Lenders, the
Issuing Banks or the Administrative Agent to enforce any of the Loan Documents.

          “Material Foreign Account Debtor Jurisdiction” is defined in Section 8.10(b).

          “Maximum Credit Amount” means, at any particular time, an amount equal to:

     (i) with respect to the Domestic Facility, the lesser of (1) the Domestic Commitment
in effect at such time and (2) (A) the Domestic Borrowing Base, minus (B) the
amount of any Availability Reserves applicable to the Domestic Facility in effect at such
time, minus (C) the Converted Domestic Borrowing Base Excess allocated to the
Multicurrency Facility pursuant to Section 2.01(a)(ii); and

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     (ii) with respect to the Multicurrency Facility, the lesser of (1) the Multicurrency
Commitment in effect at such time and (2) (A) the Multicurrency Borrowing Base at such time,
plus (B) the Converted Domestic Borrowing Base Excess then allocated to the
Multicurrency Facility pursuant to Section 2.01(a)(ii) (with the understanding that
the addition of Converted Domestic Borrowing Base Excess at no time shall result in the
Maximum Credit Amount for the Multicurrency Facility exceeding the Multicurrency Commitment
then in effect), minus (C) the amount of any Availability Reserves applicable to the
Multicurrency Facility in effect at such time.

          Notwithstanding the foregoing, from and after the Termination Date, the “Maximum Credit
Amount” under each Facility shall equal $0.

          “Maximum Domestic Commitment” means, in respect of any Domestic Lender, the amount set
forth opposite such Domestic Lender’s name on Schedule 1.01.1 under the caption “Maximum
Domestic Commitment” as such amount may be reduced or modified pursuant to this Agreement
(including pursuant to any Assignment and Acceptance).

          “Maximum Multicurrency Commitment” means, in respect of any Multicurrency Lender, the
amount set forth opposite such Multicurrency Lender’s name on Schedule 1.01.1 under the
caption “Maximum Multicurrency Commitment” as such amount may be reduced or modified pursuant to
this Agreement (including pursuant to any Assignment and Acceptance).

          “Maximum Swing Loan Amount” is defined in Section 2.01(b).

          “MB Allocable Amount” is defined in Section 13.06.

          “MB Payment” is defined in Section 13.06.

          “MIS” means computerized management information system for recording and maintenance
of information regarding purchases, sales, aging, categorization, and locations of Inventory,
creation and aging of Receivables, and accounts payable (including agings thereof).

          “Monthly Borrowing Base Delivery Date” is defined in Section 7.05(a).

          “Moody’s” means Moody’s Investors Service, Inc.

          “Multicurrency Borrower Guaranty” means (a) the Amended and Restated Multicurrency
Borrower Guaranty dated as of the Closing Date duly executed and delivered to the Administrative
Agent by each of the Domestic Credit Parties with respect to the Multicurrency Obligations,
substantially in the form and substance of Exhibit G-2 attached hereto, and (b) each
Multicurrency Borrower Guaranty, substantially in the form and substance of Exhibit G-2
attached hereto, executed and delivered by a Domestic Subsidiary to the Administrative Agent
pursuant to Section 9.07, as each of the same may be further amended, supplemented or
otherwise modified from time to time.

          “Multicurrency Borrowers” means the UK Borrower and the Netherlands Borrowers.

          “Multicurrency Borrowing Base” means, as of any date of determination, with respect to
the Multicurrency Borrowers, an amount equal to the sum of:

          (a) up to 80.0% (or such other higher percentage as agreed to by all Lenders in their sole
discretion) of the unpaid balance all Eligible Foreign Receivables plus

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          (b) (i) until the date following the Closing Date upon which a new appraisal of the Foreign
Inventory in form and substance reasonably acceptable to the Administrative Agent is delivered to
the Administrative Agent, the lesser of:

     (A) $25,000,000; and

     (B) 29.0% of the lower of cost or market of Eligible Foreign Inventory; and

          (ii) at all times thereafter, the least of:

     (A) $25,000,000;

     (B) 45.0% of the lower of cost or market of Eligible Foreign Inventory, and

     (C) the sum of the products of the Inventory Advance Rate multiplied by the Net Orderly
Liquidation Value of each category of Eligible Foreign Inventory set forth on the
Multicurrency Borrowers’ Borrowing Base Certificate.

          For purposes of this definition, the value or balance, as applicable, of Eligible Foreign
Inventory and Eligible Foreign Receivables shall be determined after deduction of all Eligibility
Reserves then effective with respect to such items.

          “Multicurrency Cash Collateral Accounts” means the Euro Cash Collateral Account and
the Sterling Cash Collateral Account.

          “Multicurrency Commitment” means the commitment of each Multicurrency Lender to make
Multicurrency Loans (including Multicurrency Loans required to be made pursuant to Section
2.01(h) and 2.02(e)(ii) to the Multicurrency Borrowers) and to participate in Letters
of Credit Issued for the account of the Multicurrency Borrowers in an aggregate principal amount
outstanding not to exceed the amount set forth opposite such Multicurrency Lender’s name on
Schedule 1.01.1 under the caption “Multicurrency Commitment” as such amount may be reduced
or modified pursuant to this Agreement (including pursuant to any Assignment and Acceptance);
provided, however, that at no time shall the Multicurrency Commitment exceed $100,000,000 less any
permanent reduction made pursuant to Section 3.01. As of the Closing Date, the aggregate
Multicurrency Commitments of all Multicurrency Lenders equals $100,000,000.

          “Multicurrency Concentration Accounts” means:

          (a) with respect to deposits denominated in Dollars, that certain account of the UK Borrower,
number 10124648 maintained with Citibank in London, England (or any account that replaces such
account);

          (b) with respect to deposits denominated in Euros, that certain account of the UK Borrower,
number 10124664 maintained with Citibank in London, England (or any account that replaces such
account); and

          (c) with respect to deposits in Sterling, that certain account of the UK Borrower, number
102456 maintained with Citibank in London, England (or any account that replaces such account),

in each case, operated in accordance with the Multicurrency Concentration Accounts Agreements .

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          “Multicurrency Concentration Accounts Agreements” means (a) that certain Multicurrency
Concentration Accounts Agreement dated as of May 9, 2002 among Citibank in London, England and the
UK Borrower, as amended, restated, supplemented or otherwise modified from time to time, (b) that
certain Multicurrency Concentration Accounts Acknowledgment of Charge and Agreement dated as of May
9, 2002 among Citibank in London, England and the Administrative Agent, as amended, restated,
supplemented or otherwise modified from time to time, (c) that certain Multicurrency Concentration
Accounts Charge dated as of May 9, 2002 among the UK Borrower and the Administrative Agent, as
replaced, amended, restated, supplemented or otherwise modified from time to time.

          “Multicurrency Facility” means the facility provided by (a) the Multicurrency Lenders
to make Multicurrency Loans to the Multicurrency Borrowers, (b) the Overdraft Line Bank to make
Overdraft Loans to the Multicurrency Borrowers and (c) the Issuing Banks to Issue Letters of Credit
for the account of the Multicurrency Borrowers, in each case on and after the Closing Date in
accordance with the terms and conditions contained in this Agreement.

          “Multicurrency Lenders” means the Lenders designated as such on Schedule
1.01.1 under the caption “Multicurrency Commitment” and each other institution which is party
hereto as a Multicurrency Lender pursuant to an Assignment and Acceptance.

          “Multicurrency LIBO Rate” means, with respect to any Interest Period applicable to a
Borrowing of Fixed Rate Loans under the Multicurrency Facility denominated in a Specified Foreign
Currency:

     (i) the interest rate per annum equal to (A) the offered quotations for deposits in
the Specified Foreign Currency of the relevant Borrowing for a period comparable to the
relevant Interest Period which appears on the applicable Reuters screen page (or the service
as may be nominated by the British Bankers’ Association as the information vendor for the
purpose of displaying British Bankers’ Association Interest Settlement Rates for deposits in
the Specified Foreign Currency concerned) at or about 11:00 a.m. (London time) on the
applicable Fixed Rate Determination Date; or (B) if no such interest rate determined under
clause (A) is available, the arithmetic mean (rounded upward to the nearest one-sixteenth of
one percent (0.0625%)) of the interest rates, as supplied to Citibank at its request, quoted
by the “London Reference Banks” to leading banks in the London interbank market at or about
11:00 a.m. (London time) on the applicable Fixed Rate Determination Date for the offering of
deposits in the Specified Foreign Currency of the relevant Borrowing for a period comparable
to the relevant Interest Period; plus

     (ii) in the case of Fixed Rate Loans denominated in Sterling, the amount (expressed as
a percentage) of “associated reserve costs” being imposed by the Bank of England on the
relevant Fixed Rate Determination Date. The Multicurrency LIBO Rate shall be adjusted
automatically on and as of the effective date of any change in the amount of associated
reserve costs so imposed.

          “Multicurrency Loan” is defined in Section 2.01(a).

          “Multicurrency Loan Notes” means one or more promissory notes payable to the
Multicurrency Lenders evidencing the Multicurrency Borrowers’ Obligations to repay the
Multicurrency Loans, substantially in the form and substance of Exhibit Q-2 attached
hereto.

          “Multicurrency Obligations” means the Obligations of the Foreign Credit Parties under
the Multicurrency Facility.

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          “Multicurrency Payment Account” means that account maintained at Citibank in London,
England, in the name of the Administrative Agent, into which payments in respect of Obligations
shall be made, as set forth in the Multicurrency Concentration Accounts Agreements.

          “Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of
ERISA that is subject to Title IV of ERISA, and which is, or within the immediately preceding six
(6) years was, contributed to by any Borrower or any ERISA Affiliate.

          “NACCO Materials Handling S.R.L.” means the Italian Receivables Seller.

          “Net Cash Proceeds of Issuance of Equity Securities or Indebtedness” means (a) net
cash proceeds (including cash, equivalents readily convertible into cash, and such proceeds of any
notes received as consideration or any other non-cash consideration) received by any Credit Party
or any direct Subsidiary of any Borrower at any time after the Closing Date on account of the
issuance of (i) equity Securities of any Borrower or any of its Subsidiaries (other than Capital
Stock of a Subsidiary issued to any Credit Party) or (ii) Indebtedness (other than Indebtedness
permitted under Section 9.01) of any Credit Party, or any direct Subsidiary of any
Borrower, in each case net of all transaction costs and underwriters’ discounts with respect
thereto; and (b) proceeds received by any Borrower at any time after the Closing Date as a
contribution to its capital on account of the issuance of equity Securities of such Borrower;
provided, however, that Net Cash Proceeds of Issuance of Equity Securities or Indebtedness shall
not include net proceeds of up to $25,000,000 in any four fiscal quarter period resulting from (x)
the issuance by NMHG Holding of equity Securities to the Parent or (y) capital contributions made
by the Parent (directly or indirectly) to NMHG Holding or any of the other Borrowers.

          “Net Cash Proceeds of Sale” means, (a) proceeds received by any Credit Party, or any
direct Subsidiary of any Borrower in cash (including cash, equivalents readily convertible into
cash, and such proceeds of any notes received as consideration of any other non-cash consideration)
from the sale, assignment or other disposition of any Property (including any Sale and Leaseback
Transaction but not the lease or license of any Property), other than sales permitted under
clauses (a), (c), (d), (e) and (f) of Section 9.02, net of (i) the costs of
sale, assignment or other disposition, (ii) any income, franchise, transfer or other tax liability
arising from such transaction and (iii) amounts applied to the repayment of Indebtedness (other
than the Obligations) secured by a Lien permitted by Section 9.03 on the asset disposed of,
if such net proceeds arise from any individual sale, assignment or other disposition or from any
group of related sales, assignments or other dispositions; and (b) to the extent provided in
Section 8.13), proceeds of insurance on account of the loss of or damage to any such
Property or Properties, and payments of compensation for any such Property or Properties taken by
condemnation or eminent domain.

          “Net Orderly Liquidation Value Percentage” means the orderly liquidation value on an
as-is-where-is basis (net of cost and expenses incurred in connection with liquidation) of
inventory as a percentage of the cost of such inventory, which percentage shall be determined by
reference to the most recent third-party appraisal of such inventory received by the Administrative
Agent.

          “Netherlands Borrowers” is defined in the preamble.

          “NFS” means NMHG Financial Services, Inc., a Delaware corporation in which NMHG holds
a minority interest.

          “NMHG” is defined in the preamble.

          “NMHG Holding” is defined in the preamble.

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          “NMHG Holding Company Merger” means the merger or consolidation of NMHG Holding with
and into Hyster-Yale or NMHG, in each case in accordance with Section 9.09.

          “NMHG Mauritius Entities” means NMHG Mauritius, Shanghai Hyster Forklift Ltd.,
Shanghai Hyster International Trading Co., Ltd. and Hyster (H.K.) Limited.

          “Non-Collateral Operating Lease” is defined in Section 9.10(b).

          “Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender
or a Potential Defaulting Lender.

          “Non-USD Currency” is defined in Section 14.21(a).

          “Notes” means, collectively, the Domestic Loan Notes, the Multicurrency Loan Notes,
the Swing Loan Note, and all amendments thereto, replacements thereof and substitutions therefor.

          “Notice of Borrowing” means a notice substantially in the form of (a) Exhibit
K-1 attached hereto for Borrowings under the Domestic Facility and (b) Exhibit K-2
attached hereto for Borrowings under the Multicurrency Facility.

          “Notice of Continuation/Conversion” means a notice substantially in the form of
Exhibit L attached hereto.

          “Notice of Letter of Credit Issuance” means a notice substantially in the form of (a)
Exhibit M-1 attached hereto for Letters of Credit Issued under the Domestic Facility and
(b) Exhibit M-2 attached hereto for Letters of Credit Issued under the Multicurrency
Facility.

          “NPL” is defined in Section 6.01(o).

          “Obligations” means, to the extent arising hereunder, under the Notes or under any
other Loan Document, all Loans, all Overdraft Loans, Protective Advances, advances, debts,
liabilities, obligations, covenants and duties owing by any Credit Party to the Administrative
Agent, any Lender, any Issuing Bank, any Affiliate of the Administrative Agent, any Lender or any
Issuing Bank, or any Person entitled to indemnification pursuant to Section 14.03, of any
kind or nature, present or future, whether or not evidenced by any note, guaranty or other
instrument, whether or not for the payment of money, whether arising (a) under or in connection
with (i) a Currency Agreement with the Administrative Agent, the Syndication Agent, any Lender or
any Affiliate of the Administrative Agent, the Syndication Agent or any Lender, (ii) an Interest
Rate Contract with the Administrative Agent, the Syndication Agent, any Lender or any Affiliate of
the Administrative Agent, the Syndication Agent or any Lender, (iii) a Commodity Agreement with the
Administrative Agent, the Syndication Agent, any Lender or any Affiliate of the Administrative
Agent, the Syndication Agent or any Lender or (iv) the Concentration Accounts, the Cash Collateral
Accounts or any cash management services provided by the Administrative Agent or any Affiliate of
the Administrative Agent, including, without limitation, those described in Section
3.06(d), or (b) by reason of (i) an extension of credit, (ii) opening or amendment of a Letter
of Credit or payment of any draft drawn thereunder, (iii) loan, (iv) guaranty or (v)
indemnification or (c) in any other manner, whether direct or indirect (including those acquired by
assignment), absolute or contingent, due or to become due, now existing or hereafter arising and
however acquired. The term includes, without limitation, all interest, charges, foreign exchange
costs, expenses, fees, attorneys’ fees and disbursements and any other sum chargeable to any Credit
Party hereunder or under any other Loan Document and the obligations of the Borrowers to cash
collateralize the Letter of Credit Obligations.

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          “Obligee” and “Obligees” are defined in Section 12.09(e).

          “OFAC” is defined in Section 6.01(ff).

          “OFAC Laws and Regulations” is defined in Section 6.01(ff).

          “Officer’s Certificate” means, as to a corporation, a certificate executed on behalf
of such corporation by an officer or director of such corporation and, with respect to any Credit
Party, substantially in the form of Exhibit N attached hereto.

          “Operating Lease” means, as applied to any Person, any lease of any property (whether
real, personal or mixed) by that Person as lessee which is not a Capital Lease.

          “Operating Multicurrency Borrowers” means NACCO BV and the UK Borrower.

          “Optional Currency” means (a) with respect to the Domestic Borrowers or Domestic
Lenders, Dollars, and (b) with respect to the Multicurrency Borrowers or Multicurrency Lenders, the
Specified Foreign Currency.

          “Original Currency” is defined in Section 14.21(b).

          “Other Currency” is defined in Section 14.21(b).

          “Overdraft Line Bank” means Citibank International PLC, in its individual capacity or,
in the event CNAI is not the Administrative Agent, the Administrative Agent (or any Affiliate of
the Administrative Agent designated by the Administrative Agent and approved by the Multicurrency
Borrowers), in its individual capacity.

          “Overdraft Line Commitment” means $20,000,000.

          “Overdraft Loans” is defined in Section 2.01(c)(i).

          “Overdraft Rate” means, for any period, a fluctuating interest rate per annum as shall
be in effect from time to time, which rate per annum shall at all times be equal to the rate of
interest designated and published in London by (a) with respect to Overdraft Loans provided to the
Sterling Overdraft Accounts, the principal office of Bank of England in London, England as the
“base rate” applicable to Sterling, and (b) with respect to Overdraft Loans provided to the Euro
Overdraft Accounts, the principal office of the European Central Bank in London, England, as the
“base rate” applicable to Euros.

          “Overdraft Settlement Date” is defined in Section 2.01(h).

          “Paid In Full”, “Pay In Full” and “Payment In Full” means, with
respect to the Obligations of any Credit Party:

     (a) with respect to each Letter of Credit issued for the account of such Borrower, (x)
the termination and surrender for cancellation of such Letter of Credit or (y) satisfaction
and compliance with terms of Section 2.02(a)(iii) with respect to such Letter of
Credit;

     (b) with respect to (i) each Currency Agreement with the Administrative Agent, the
Syndication Agent or any Affiliate of the Administrative Agent or the Syndication Agent to

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which such Credit Party is a counterparty, (ii) each Interest Rate Contract with the
Administrative Agent, the Syndication Agent or any Affiliate of the Administrative Agent or
the Syndication Agent to which such Credit Party is a counterparty, and (iii) each Commodity
Agreement with the Administrative Agent, the Syndication Agent or any Affiliate of the
Administrative Agent or the Syndication Agent to which such Credit Party is a counterparty
the delivery of Cash Collateral in such form as requested by the Administrative Agent or the
Syndication Agent, as applicable, (and, in the case of Letters of Credit, the applicable
Issuing Bank) for deposit in the appropriate Cash Collateral Account, together with such
endorsements, and execution and delivery of such documents and instruments as the
Administrative Agent or the Syndication Agent, as applicable, may request in order to
perfect or protect the Administrative Agent’s Lien with respect thereto, in an aggregate
principal amount equal to the then outstanding Currency Agreement Exposure, Interest Rate
Contract Exposure and Commodity Agreement Exposure, respectively, with respect thereto; and

     (c) with respect to all other Obligations (other than, as of any date of payment,
Obligations which are contingent and unliquidated and not then due and owing and which
pursuant to Section 14.09, survive the making and repayment of the Loans, the
issuance and discharge of Letters of Credit hereunder and the termination of the Commitments
hereunder), the indefeasible payment in full in cash of such Obligations.

          “Parent” means NACCO Industries, Inc., a Delaware corporation.

          “Parent Company” means, with respect to a Lender, the bank holding company (as defined
in Federal Reserve Board Regulation Y), if any, of such Lender, and/or any Person owning,
beneficially or of record, directly or indirectly, a majority of the shares of such Lender.

          “Parent Subordinated Indebtedness” means unsecured Indebtedness owing by any Borrower
or Borrower Subsidiary to the Parent and unsecured guaranties thereof by any other Borrower or
Borrower Subsidiary; provided that any such Indebtedness or guaranty issued by a Credit Party shall
be subordinated in right of payment to the Obligations and otherwise on terms and conditions
satisfactory to the Administrative Agent; provided, further, that, in the event that any Borrower
Subsidiary which is not a Credit Party guaranties or becomes jointly and severally liable for any
Parent Subordinated Indebtedness issued by any Credit Party, such Borrower Subsidiary, as a
condition of issuing such guaranty or becoming jointly and severally liable for such Indebtedness,
shall become a Guarantor with respect to (i) if such Credit Party is a Domestic Credit Party, all
Obligations guaranteed by the Domestic Guarantors, (ii) if such Credit Party is a Multicurrency
Borrower, all Obligations of such Multicurrency Borrower or (iii) if such Credit Party is a Foreign
Guarantor, all Obligations guaranteed by such Foreign Guarantor.

          “Participant” is defined in Section 14.01(h).

          “PBGC” means the Pension Benefit Guaranty Corporation and any Person succeeding to the
functions thereof.

          “Permits” means any permit, approval, authorization, license, variance, exemption,
no-action letter or permission required from a Governmental Authority under an applicable
Requirement of Law.

          “Permitted Existing Accommodation Obligations” means those Accommodation Obligations
of the Borrowers and their Subsidiaries identified as such on Schedule 1.01.4.

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          “Permitted Existing Indebtedness” means the Indebtedness of the Borrowers and their
Subsidiaries identified as such on Schedule 1.01.5.

          “Permitted Existing Investments” means those Investments identified as such on
Schedule 1.01.6.

          “Permitted Existing Liens” means the Liens on assets of each Borrower and Borrower
Subsidiary identified as such on Schedule 1.01.7.

          “Permitted Holders” means, collectively, the parties to the Stockholders’ Agreement,
dated as of March 15, 1990, as amended from time to time, by and among National City Bank,
(Cleveland, Ohio), as depository, the Participating Stockholders (as defined therein) and the
Parent; provided, however, that for purposes of this definition only, the definition of
Participating Stockholders contained in the Stockholder’s Agreement shall be such definition in
effect on the Closing Date.

          “Permitted Term B Loan Intercreditor Agreement” means (i) the Intercreditor Agreement
dated as of March 22, 2006 among the Administrative Agent, the Borrowers and the Existing Term Loan
Agent and (ii) any other intercreditor agreement entered into by the Administrative Agent pursuant
to Section 12.02, in each case, as the same may from time to time be amended, restated or
otherwise modified from time to time, so long as such intercreditor agreement is in form and
substance reasonably acceptable to the Administrative Agent.

          “Permitted Term B Loan Documents” means all of the documents, instruments and
agreements documenting or evidencing the Permitted Term B Loans, as any of the foregoing may from
time to time be amended, restated or otherwise modified from time to time.

          “Permitted Term B Loans” means the Existing Term Loans, any other term loans
(including, without limitation, all institutional tranche term loans (such as tranche B or tranche
C term loans) or any high yield offering private placement or other similar offering incurred by
one or more of the Domestic Borrowers so long as the following conditions are satisfied to the
satisfaction of the Administrative Agent prior to or concurrently with the incurrence of the
Indebtedness evidenced by such term loans, private placement, high yield offering or any other
similar offering: (i) such Indebtedness does not exceed an aggregate principal amount equal to
$250,000,000, (ii) the holders of such Indebtedness shall be subject to the Permitted Term B Loan
Intercreditor Agreement and (iii) the Permitted Term B Loan Documents shall be reasonably
acceptable to the Administrative Agent.

          “Person” means any natural person, corporation, limited partnership, limited liability
company, general partnership, joint stock company, joint venture, association, company, trust,
bank, trust company, land trust, business trust or other organization, whether or not a legal
entity, or any Governmental Authority.

          “Plan” means an employee benefit plan defined in Section 3(3) of ERISA in respect of
which any Borrower or any ERISA Affiliate is, or within the immediately preceding six (6) years
was, an “employer” as defined in Section 3(5) of ERISA.

          “Pledge Agreements” means (a) the Pledge Agreement dated as of May 9, 2002 by and
between each Domestic Credit Party and the Administrative Agent, substantially in the form and
substance of Exhibit O attached hereto, (b) the Pledge Agreements dated as of May 9, 2002
by the Foreign Credit Parties specified on the Closing List in favor of the Administrative Agent,
(c) the other pledge agreements described on Schedule 1.01.10 and (d) all other pledge
agreements executed by any

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Borrower or Borrower Subsidiary in accordance with Section 9.07, as each of the same
may be further amended, supplemented or otherwise modified from time to time.

          “Pledged Entity” means any Borrower or Borrower Subsidiary all or a portion of the
Capital Stock of which has been or is required to be pledged pursuant to a Pledge Agreement in
accordance with the terms of this Agreement.

          “Potential Defaulting Lender” means, at any time, a Lender (i) as to which the
Administrative Agent has notified the Borrowers that an event of the kind referred to in the
definition of “Lender Insolvency Event” has occurred and is continuing in respect of any Subsidiary
of such Lender, (ii) as to which the Administrative Agent, any Issuing Bank, the Overdraft Line
Bank or the Swing Loan Bank has in good faith determined and notified the Borrowers and (in the
case of any Issuing Bank, the Swing Loan Bank and Overdraft Line Bank, the Administrative Agent)
that such Lender or its Parent Company or a Subsidiary thereof has notified the Administrative
Agent, or has stated publicly, that it will not comply with its funding obligations under any other
loan agreement or credit agreement or other similar/other financing agreement or (iii) that has, or
whose Parent Company has, a non-investment grade rating from Moody’s or S&P or another nationally
recognized rating agency. Any determination that a Lender is a Potential Defaulting Lender under
any of clauses (i) through (iii) above will be made by the Administrative Agent or, in the case of
clause (ii), any Issuing Bank, the Swing Loan Bank or the Overdraft Line Bank, as the case may be,
in its sole discretion acting in good faith. The Administrative Agent will promptly send to all
parties hereto a copy of any notice to the Borrowers provided for in this definition.

          “Post-Closing Agreement” means that certain letter agreement dated the Closing Date
among the Administrative Agent and the Borrowers, as amended, restated, supplemented or otherwise
modified from time to time.

          “Previous Agreement” has the meaning set forth in the Preliminary Statement of this
Agreement.

          “Pro Forma” means the unaudited pro forma opening balance sheet of NMHG Holding and
its Subsidiaries attached hereto as Exhibit P, prepared in accordance with GAAP, dated as
of the Closing Date, and giving effect to the extensions of credit contemplated hereby.

          “Pro Rata Share” means:

     (a) with respect to any Lender and any Credit Facility, the percentage obtained by
dividing (i) such Lender’s Commitment in respect of such Credit Facility at such time by
(ii) the aggregate amount of all Commitments in respect of such Credit Facility at such
time, and

     (b) with respect to any Lender and the Credit Facilities taken as a whole, the
percentage obtained by dividing (i) such Lender’s Commitment in respect of all Credit
Facilities at such time by (ii) the aggregate amount of all Commitments at such time;

provided, however,

     (i) if all of the Commitments are terminated pursuant to the terms hereof, then
“Pro Rata Share” means the percentage obtained by dividing (x) the aggregate amount
of such Lender’s Credit Facility Outstandings under all Credit Facilities by (y) the
aggregate amount of all Credit Facility Outstandings; and

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          (ii) if the CAM Exchange has occurred, then “Pro Rata Share” means, in respect
of any Lender, a Percentage equal to such Lender’s CAM Percentage.

          “Process Agent” is defined in Section 14.17.

          “Property” means any Real Property or personal property, plant, building, facility,
structure, underground storage tank or unit, Equipment, Inventory, General Intangible, Receivable,
or other asset owned, leased or operated by any Borrower or any of its Subsidiaries, as applicable
(including any surface water thereon or adjacent thereto, and soil and groundwater thereunder).

          “Proposal Letter” means the Proposal Letter dated May 19, 2010 by and among the Joint
Lead Arrangers, CNAI, Bank of America, N.A. and the Borrowers, as amended, restated, supplemented
or otherwise modified from time to time.

          “Protective Advances” is defined in Section 12.09(a).

          “Purchase Money Liens” is defined in Section 9.01(d).

          “Qualifying Lender” means (i) a Lender (other than a Lender within paragraph (ii)
below) which is beneficially entitled to interest payable to that Lender in respect of an advance
under a Loan Document and is: (A) a UK Bank; (B) a UK Lender or (C) a Treaty Lender; or (ii) a
building society (as defined for the purpose of section 880 of the Income Tax Act 2007) making an
advance under a Loan Document.

          “Real Property” means, with respect to any Person, all of such Person’s present and
future right, title and interest (including, without limitation, any leasehold estate) in real
property.

          “Receivables” means, with respect to any Person, all of such Person’s present and
future (a) accounts (as defined in the Uniform Commercial Code or in any similar statute of England
and Wales, Scotland, Northern Ireland, the Netherlands or any other relevant jurisdiction, or any
political subdivision thereof), (b) accounts receivable, (c) rights to payment for goods sold or
leased or for services rendered, whether or not earned by performance (with respect to any Foreign
Credit Party, irrespective of whether such goods were sold by the UK Borrower or by any other
Foreign Credit Party), (d) all chattel paper, (e) all rights in any merchandise or goods which any
of the same may represent, and (f) all rights, title, security, insurance, letters of credit,
guaranties and other supporting obligations with respect to each of the foregoing, including,
without limitation, any right of stoppage in transit.

          “Receivables Sale Agreements” shall mean (a) the agreements between the Netherlands
Borrowers and the UK Borrower providing for the daily sale and assignment of all Receivables
originated by NACCO BV to the UK Borrower and (b) the agreements, if any, between NACCO Materials
Handling S.R.L. (or a successor thereto) and the UK Borrower providing for the daily sale and
assignment of all Receivables originated by NACCO Materials Handling S.R.L. (or such successor) to
the UK Borrower, in each case, in form and substance satisfactory to the Administrative Agent.

          “Receivables Subsidiary” means a wholly-owned Subsidiary of the UK Borrower that is
structured to be “bankruptcy remote” and that engages in no activities other than in connection
with the purchase and financing of Receivables from one or more of the Foreign Credit Parties and
execution, delivery and performance of the Loan Documents and transactions contemplated thereby.

          “Received Amount” is defined in Section 12.09(f).

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          “Refinanced Indebtedness” means the Indebtedness of any Borrower (including
obligations under any receivables factoring or discounting facility) which is to be refinanced,
repaid, retired or defeased out of the proceeds of the Loans made on the Closing Date and
identified as such on Schedule 1.01.8.

          “Register” is defined in Section 14.01(c).

          “Regulation A” means Regulation A of the Federal Reserve Board as in effect from time
to time.

          “Regulation D” means Regulation D of the Federal Reserve Board as in effect from time
to time.

          “Regulation U” means Regulation U of the Federal Reserve Board as in effect from time
to time.

          “Regulation X” means Regulation X of the Federal Reserve Board as in effect from time
to time.

          “Reimbursement Date” is defined in Section 2.02(d)(i)(A).

          “Reimbursement Obligations” means, as to any Borrower, the aggregate non-contingent
reimbursement or repayment obligations of such Borrower with respect to amounts drawn under Letters
of Credit Issued for the account of such Borrower.

          “Related Business” means any business in which any Borrower or any Borrower Subsidiary
was engaged on the Closing Date and any business related, ancillary or complementary to any
business of any Borrower or any Borrower Subsidiary in which any Borrower or any Borrower
Subsidiary was engaged on the Closing Date or a reasonable extension, development or expansion of
the business in which any Borrower or any Borrower Subsidiary was engaged as of the Closing Date.

          “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person
and such Person’s Affiliates.

          “Release” means any active or passive release, spill, emission, leaking, pumping,
injection, deposit, disposal, pouring, dumping, abandonment, discards of barrels, containers or
other receptacles, including the active or passive discharge, dispersal, leaching or migration of
Contaminants into the indoor or outdoor environment or into or out of any Property.

          “Relevant Person” means each of (a) NMHG, UK Borrower and the Netherlands Borrowers,
(b) until an NMHG Holding Company Merger, NMHG Holding, (c) after an NMHG Holding Company Merger
where Hyster-Yale is the surviving entity, Hyster-Yale, and (d) prior to a Restructuring, Parent.

          “Remedial Action” means actions required to (a) clean up, remove, treat or in any
other way address Contaminants in the indoor or outdoor environment; (b) prevent the Release or
threat of Release or minimize the further Release of Contaminants; or (c) investigate and determine
if a remedial or other response is needed and to design such a response and post-remedial
investigation, monitoring, operation and maintenance and care.

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          “Rental Equipment Operating Lease” is defined in Section 9.10(b).

          “Replacement Proceeds” means the amount of (a) proceeds of insurance paid on account
of the loss of or damage to any Property and awards of compensation for Property taken by
condemnation or eminent domain to the extent actually used to replace, rebuild or restore the
Property so lost, damaged or taken, provided that (i) a Borrower shall have delivered written
notice to the Administrative Agent that it or its applicable Subsidiary intends to so replace,
rebuild or restore such Property and (ii) such Borrower or such applicable Subsidiary of such
Borrower replaces or commences the restoration or rebuilding of such Property within 365 days after
the Administrative Agent’s receipt of the proceeds of such insurance payment or condemnation award
and (b) insurance paid on account of a business interruption occurrence to the extent actually used
in the restoration or conduct of the business interrupted.

          “Reportable Event” means any of the events described in Section 4043 of ERISA
excluding those events for which the requirement of notice has been waived by the PBGC.

          “Required Cross-Border Opinions” is defined in Section 8.10(b).

          “Required Evidence of Insurance” is defined in Section 8.05.

          “Requirements of Law” means, as to any Person, the charter and bylaws or other
organizational or governing documents of such Person, and any law, rule or regulation, or
determination of an arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its property or to which such Person or any of its
property is subject including, without limitation, the Internal Revenue Code, the Securities Act,
the Securities Exchange Act, Regulations U and X, ERISA, the Fair Labor Standards Act and any
similar statute of any foreign government or any political subdivision thereof and any certificate
of occupancy, zoning ordinance, building, or land use requirement or Permit or labor or employment
rule or regulation, including Environmental, Health or Safety Requirements of Law.

          “Requisite Lenders” means, at any time, Lenders holding, in the aggregate, greater
than fifty-percent (50%) of the then aggregate amount of the Commitments in effect at such time;
provided, however, that, in the event any of the Lenders is then a Defaulting Lender,
“Requisite Lenders” means the Lenders (excluding Defaulting Lenders (and their Affiliates
who are Lenders)) whose Pro Rata Shares of the Credit Facilities represent greater than
fifty-percent (50%) of the aggregate Pro Rata Shares of such Lenders; provided, however, that, in
the event that the Commitments have been terminated pursuant to the terms hereof, “Requisite
Lenders” means the Lenders (without regard to whether any Lenders are Defaulting Lenders) whose
aggregate ratable shares (stated as a percentage) of the aggregate outstanding principal balance of
all Credit Facility Outstandings are greater than fifty-percent (50%).

          “Restricted Payment” means (a) any dividend or other distribution, direct or indirect,
on account of any shares of, or interests in, any class of Capital Stock of any Borrower or any of
their Subsidiaries now or hereafter outstanding, except a dividend (or equivalent distribution)
payable solely in (i) shares of, or options or warrants (which do not contain put or call rights)
with respect to, that class of stock and/or (ii) shares of any class of stock which is junior to
that class of stock, provided that such shares do not constitute Indebtedness, (b) any redemption,
retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or
indirect, of any shares of, or interests in, any class of Capital Stock of any Borrower or any of
their Subsidiaries now or hereafter outstanding, (c) any payment made to redeem, purchase,
repurchase or retire, or to obtain the surrender of, any outstanding warrants, options or other
rights to acquire shares of, or interests in, any class of Capital Stock of any Borrower or any of
their Subsidiaries now or hereafter outstanding, (d) any payment or prepayment of principal of,

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premium, if any, or interest, fees or other charges on or with respect to, and any redemption,
purchase, retirement, defeasance, sinking fund or similar payment and any claim for rescission with
respect to any Indebtedness which by its terms is subordinated to the Obligations, including,
without limitation, Parent Subordinated Indebtedness, and (e) any payment or prepayment of
principal of, premium, if any, or interest, fees or other charges on or with respect to, and any
redemption, purchase, retirement, defeasance, sinking fund or similar payment and any claim for
rescission with respect to (i) the ING Working Capital Line or (ii) Indebtedness arising from
intercompany loans between any Borrower or Borrower Subsidiary and any other Borrower or Borrower
Subsidiary.

          “Restructuring” means one or more transactions which would not cause a Change of
Control with respect to any Relevant Person other than the Parent, the result of which is that the
Parent no longer owns any Capital Stock issued by NMHG Holding, Hyster-Yale, or any Borrower.

          “Revolving Loan” is defined in Section 2.01(a).

          “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business.

          “Sale and Leaseback Transaction” means, with respect to any Person, any direct or
indirect arrangement pursuant to which Property is sold or transferred by such Person and is
thereafter leased back from the purchaser thereof by such Person.

          “Scheduled Principal Payments” means, for any period, the sum of the amounts for such
period of scheduled payments of principal on the Indebtedness of NMHG Holding and its Subsidiaries
(including the principal component of Capital Lease obligations).

          “Securities” means any stock, shares, voting trust certificates, bonds, debentures,
notes or other evidences of indebtedness, secured or unsecured, convertible, subordinated or
otherwise, or any certificates of interest, shares, or participation in temporary or interim
certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire
any of the foregoing, but shall not include any evidence of the Obligations.

          “Securities Act” means the Securities Act of 1933, as amended from time to time, and
any successor statute.

          “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended from
time to time, and any successor statute.

          “Security Documents” means the Pledge Agreements, the Domestic Security Agreement, the
Trademark Security Agreements, the Collection Account Agreements, the Foreign Security Agreements,
and any other agreement, document or instrument that creates a Lien on Property of a Credit Party
in favor of any Holder, in each case, together with all amendments, restatements, supplements or
modifications thereto.

          “Semi-Monthly Borrowing Base Delivery Date” is defined in Section 7.05(b).

          “Solvent” means, when used with respect to any Person, that at the time of
determination:

     (i) the assets of such Person, at a fair valuation, are in excess of the total amount
of its debts (including, without limitation, contingent liabilities); and

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     (ii) the present fair saleable value of its assets is greater than its probable
liability on its existing debts as such debts become absolute and matured; and

     (iii) it is then able and expects to be able to pay its debts (including, without
limitation, contingent debts and other commitments) as they mature; and

     (iv) it has capital sufficient to carry on its business as conducted and as proposed to
be conducted.

For purposes of determining whether a Person is Solvent, the amount of any contingent liability
shall be computed as the amount that, in light of all the facts and circumstances existing at such
time, represents the amount that can reasonably be expected to become an actual or matured
liability.

          “Specified Availability Block” means, as of any date:

	 	(i)	 	if any scheduled principal payment of $5,000,000 or more in
respect of any Permitted Term B Loan (x) is then due and payable, (y) is due
and payable within 90 days after such date or (z) was due and payable at any
time 90 days before such date

	 	(A)	 	$55,000,000;

	 	 	 	minus

	 	(B)	 	the total amount
of unrestricted and available cash and cash equivalents
of the Domestic Credit Parties at such time that are in
segregated pledged deposit accounts or pledged
securities accounts (but excluding any amounts on
deposit in the Collection Accounts and the Domestic
Concentration Account) subject to the Administrative
Agent’s sole dominion and “control” within the meaning
of Article 8 of the UCC or Article 9 of the UCC, as
applicable; and

          (ii) at all other times, $0.

          “Specified Foreign Currency” means Euros or Sterling.

          “Specified Indebtedness” has the meaning set forth in Section 10.04.

          “Spot Rate” shall mean on any day, with respect to any currency, the rate at which
such currency may be exchanged into Dollars, which shall be the Historical Currency Exchange Rate
on the immediately prior day as determined by OANDA Corporation and made available on its website
at http://oanda.com/convert/fxhistory; provided, that if at the time of any such determination, for
any reason, no such rate is being quoted, the Administrative Agent may use any reasonable method it
deems appropriate to determine such rate, and such determination shall be conclusive absent
manifest error.

          “Standby Letter of Credit” means any Letter of Credit Issued by an Issuing Bank
pursuant to Section 2.02 for the account of a Domestic Borrower which is not a Commercial
Letter of Credit.

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          “Sterling” means the lawful currency of the United Kingdom.

          “Sterling Cash Collateral Account” means an account designated as such with respect to
the Multicurrency Borrowers and established by the Administrative Agent maintained with Citibank in
London, England, for account funds denominated in Sterling.

          “Sterling Loans” means Multicurrency Loans denominated in Sterling and Protective
Advances denominated in Sterling, and, in each case, advanced to a Multicurrency Borrower.

          “Sterling Overdraft Accounts” means:

          (i) account number 48526 maintained with Citibank in London, England, in the name of NACCO BV
(or any account that replaces such account); and

          (ii) account number 8022232 maintained with Citibank in London, England, in the name of the UK
Borrower (or any account that replaces such account).

          “Subsidiary” of a Person means any corporation or other entity of which securities or
other ownership interests having ordinary voting power to elect a majority of the board of
directors or other persons performing similar functions are at the time directly or indirectly
owned or controlled by such Person, one or more of the other subsidiaries of such Person or any
combination thereof.

          “Swing Loan” is defined in Section 2.01(b).

          “Swing Loan Bank” means CNAI, in its individual capacity or, in the event CNAI is not
the Administrative Agent, the Administrative Agent (or any Affiliate of the Administrative Agent
designated by the Administrative Agent), in its individual capacity.

          “Swing Loan Note” means the promissory note payable to the Swing Loan Bank evidencing
the Domestic Borrowers’ Obligations to repay the Swing Loans made to the Domestic Borrowers,
substantially in the form and substance of Exhibit Q-3 attached hereto.

          “Swing Loan Settlement Date” is defined in Section 2.01(g).

          “Syndication Agent” is defined in the preamble.

          “Tax Sharing Agreement” means that certain Amended Tax Sharing Agreement, dated as of
December 22, 2007, among the affiliated group of corporations, within the meaning of Section
1504(a) of the Internal Revenue Code of which the Parent is the common parent, as the same may be
amended, restated, supplemented or otherwise modified from time to time.

          “Taxes” is defined in Section 3.04(a).

          “Termination Date” means the earlier to occur of (x) the date of termination of the
Commitments pursuant to the terms hereof and (y) June 27, 2014.

          “Termination Event” means (a) a Reportable Event with respect to any Benefit Plan; (b)
the withdrawal of any Borrower or any ERISA Affiliate from a Benefit Plan during a plan year in
which such Borrower or such ERISA Affiliate was a “substantial employer” as defined in Section
4001(a)(2) of ERISA; (c) the imposition of an obligation on any Borrower or any ERISA Affiliate
under Section 4041 of ERISA to provide affected parties written notice of intent to terminate a
Benefit Plan in a

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distress termination described in Section 4041(c) of ERISA or, with respect to a Foreign Pension Plan,
written notice to the trustees or fiduciaries of, or members in, such plan, or to a foreign
Governmental Authority of an intent to terminate such Foreign Pension Plan; (d) the institution by
the PBGC or any similar foreign Governmental Authority of proceedings to terminate a Benefit Plan
or a Foreign Pension Plan; (e) any event or condition which would reasonably constitute grounds
under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer,
any Benefit Plan; (f) a foreign Governmental Authority shall appoint or institute proceedings to
appoint a trustee to administer any Foreign Pension Plan; or (g) the partial or complete withdrawal
of any Borrower or any ERISA Affiliate from a Multiemployer Plan or a Foreign Pension Plan.

          “Total Borrowing Base” means, collectively, the Domestic Borrowing Base and the
Multicurrency Borrowing Base.

          “Trademark Security Agreements” means (a) the Trademark Security Agreement dated as of
May 9, 2002 by and between the Domestic Credit Parties and the Administrative Agent substantially
in the form of Exhibit R attached hereto, (b) each Trademark Security Agreement, if any,
dated as of May 9, 2002 by and between a Foreign Credit Party and the Administrative Agent, and (c)
each Trademark Security Agreement required to be delivered by a Borrower Subsidiary pursuant to
Section 9.07, as each of the same may be further amended, supplemented or otherwise
modified from time to time.

          “Treaty Lender” means a Lender which is treated as a resident of a Treaty State for
the purposes of the Treaty and does not carry on a business in the United Kingdom through a
permanent establishment with which that Lender’s participation in the Loan is effectively
connected.

          “Treaty State” means a jurisdiction having a double taxation agreement (a
“Treaty”) with the United Kingdom which makes provision for full exemption from tax imposed
by the United Kingdom on interest.

          “UK Bank” means a Lender (a) which is a bank (as defined for the purpose of Section
879 of the Income Tax Act 2007) making an advance under a Loan Document, or (b) in respect of an
advance made under a Loan Document by a person that was a bank (as defined for the purpose of
Section 879 of the Income Tax Act 2007) at the time that the advance was made, and in each case
which is within the charge to United Kingdom corporation tax as respects any payments of interest
made in respect of that advance.

          “UK Borrower” is defined in the preamble.

          “UK Lender” means a Lender which is:

          (a) a company resident in the United Kingdom for United Kingdom tax purposes; or

          (b) a partnership each member of which is:

     (i) a company so resident in the United Kingdom; or

     (ii) a company not so resident in the United Kingdom which carries on a trade
in the United Kingdom through a permanent establishment and which brings into
account in computing its chargeable profits (within the meaning of section 19 of the
CTA) the whole of any share of interest payable in respect of that advance that
falls to it by reason of Part 17 of the CTA; or

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          (c) a company not so resident in the United Kingdom which carries on a trade in the United
Kingdom through a permanent establishment and which brings into account interest payable in respect
of that advance in computing its chargeable profits (within the meaning of section 19 of the CTA).

          “UK Tax” means any tax, levy, impost, duty or other charge or withholding of a similar
nature (including any penalty or interest payable in connection with any failure to pay or
any delay in paying any of the same) imposed by the government of the United Kingdom or any
political subdivision thereof, whether state or local, and any agency, authority, instrumentality,
regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government of the
United Kingdom.

          “Uniform Commercial Code” means the Uniform Commercial Code as enacted in the State of
New York, as it may be amended from time to time; provided, however, in the event that, by reason
of mandatory provisions of law, any or all of the creation, attachment, perfection, priority or
enforcement of the Administrative Agents’ or Holder’s security interest in any Collateral is
governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New
York, the term “Uniform Commercial Code” shall include the Uniform Commercial Code as in
effect in such other jurisdiction for purposes of the provisions hereof relating to such creation,
attachment, perfection, priority or enforcement and for purposes of definitions related to such
provisions.

          “Unrestricted Cash On Hand” means, as of any date of determination, an amount equal to
(a) the amount of immediately available cash and Cash Equivalents on deposit in Bank Accounts
reported on the most recently delivered monthly Financial Statement, minus (b) all such
cash and Cash Equivalents which is the subject of any Lien or right of setoff, whether directly, as
proceeds of other property subject to a Lien or right of setoff, or otherwise (other than a Lien in
favor of the Administrative Agent or a right of setoff with respect to Bank Accounts with respect
to which the Administrative Agent has control (as defined in the Uniform Commercial Code)),
minus (c) all such cash or Cash Equivalents which is held in any deposit or securities
account which is subject to any Lien in favor of any Person other than the Administrative Agent.

          “Unused Commitment Fee” is defined in Section 4.03(b).

          “USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272
(2001), as amended.

          “Voting Stock” means, with respect to any Person, shares, securities, limited
liability company interests, general or limited partnership interests or other equivalents with
respect to any class or classes of Capital Stock of such Person entitling any holder thereof
(whether at all times or only so long as no senior class of Capital Stock has voting power by
reason of any contingency) (a) in the case of a corporation (or equivalent organization), to vote
in the election of members of the board of directors (or the equivalent thereof) of such Person,
(b) in the case of a limited liability company, to vote in the election of managers of such Person
or to bind or otherwise act as agent for such Person, (c) in the case of a limited partnership, to
vote on the admission of the general partner of such Person or to bind or otherwise act as agent
for such Person or (iv) in the case of a general partnership, to bind or otherwise act as agent for
such Person.

          “Weekly Borrowing Base Delivery Date” is defined in Section 7.05(c).

          1.02. Computation of Time Periods. In this Agreement, in the computation of periods
of time from a specified date to a later specified date, the word “from” means “from and including”
and

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the words “to” and “until” each mean “to but excluding”. Periods of days referred to in this
Agreement shall be counted in calendar days unless Business Days are expressly prescribed. Any
period determined hereunder by reference to a month or months or year or years shall end on the day
in the relevant calendar month in the relevant year, if applicable, immediately preceding the date
numerically corresponding to the first day of such period, provided that if such period commences
on the last day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month during which such period is to end), such period shall, unless otherwise
expressly required by the other provisions of this Agreement, end on the last day of the calendar
month.

          1.03. Accounting Terms. Subject to Section 14.04, for purposes of this
Agreement, all accounting terms not otherwise defined herein shall have the meanings assigned to
them in conformity with GAAP.

          1.04. Other Definitional Provisions. References to the “preamble”, “Articles”,
“Sections”, “subsections”, “Schedules” and “Exhibits” shall be to the preamble, Articles, Sections,
subsections, Schedules and Exhibits, respectively, of and to this Agreement unless otherwise
specifically provided. The words “hereof”, “herein”, and “hereunder” and words of similar import
when used in this Agreement shall refer to this Agreement as a whole and not to any particular
provision of this Agreement.

          1.05. Other Terms. All other terms contained herein shall, unless the context
indicates otherwise, have the meanings assigned to such terms by the Uniform Commercial Code to the
extent the same are defined therein.

          1.06. Payments by the Borrowers. Except as expressly set forth herein to the
contrary, (a) all payments made by the Borrowers in respect of principal and interest on the Loans
made under any Credit Facility shall be made (i) with respect to the Domestic Facility, in Dollars
and (ii) with respect to the Multicurrency Facility, in the Specified Foreign Currency in which
such Loan was made and (b) all payments of Reimbursement Obligations shall be made in Dollars or
the Specified Foreign Currency in which the Letter of Credit under which such Reimbursement
Obligations arise is denominated.

          1.07. Accounting and Financial Computations. Notwithstanding any other provision
contained herein, all terms of an accounting or financial nature used herein shall be construed,
and all computations of amounts and ratios referred to herein shall be made, without giving effect
to any election under Accounting Standards Codification 825-10-25 (previously referred to as
Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or
Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other
liabilities of the Borrowers or any of their Subsidiaries at “fair value”, as defined therein.

ARTICLE II

AMOUNTS AND TERMS OF LOANS AND LETTERS OF CREDIT

          2.01.  The Revolving Credit Facility.

          (a) (i)  Revolving Loans. Subject to the terms and conditions set forth herein,

     (A) pursuant to the Domestic Commitments, each Domestic Lender hereby severally and not
jointly agrees to make revolving loans (each a “Domestic Loan”) to the Domestic
Borrowers from time to time on any Business Day during the period from the Closing Date to
the Termination Date, in an amount not to exceed such Domestic Lender’s Pro Rata Share of
the Availability under the Domestic Facility at such time, provided, however, no such Loan
shall be required to be made if, after giving effect thereto:

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     (1) the aggregate Credit Facility Outstandings owed by the Domestic Borrowers
under the Domestic Facility exceed the Maximum Credit Amount for the Domestic
Facility at such time; or

     (2) the aggregate Credit Facility Outstandings owing to any Domestic Lender
(after giving effect to any obligations of such Domestic Lender under Section
2.01(g) and Section 2.02(e)(ii)) under the Domestic Facility would
exceed the Domestic Commitment of such Domestic Lender, and

     (B) pursuant to the Multicurrency Commitment, each Multicurrency Lender hereby
severally and not jointly agrees to make revolving loans (each a “Multicurrency
Loan” and, together with the Domestic Loans, the “Revolving Loans”) to the
Multicurrency Borrowers from time to time on any Business Day during the period from the
Closing Date to the Termination Date, in an amount (converted to the Dollar Equivalent
thereof) not to exceed such Multicurrency Lender’s Pro Rata Share of the Availability under
the Multicurrency Facility at such time, provided, however, no such Loan shall be required
to be made if, after giving effect thereto:

     (1) the aggregate Credit Facility Outstandings owed by the Multicurrency
Borrowers under the Multicurrency Facility exceed the Maximum Credit Amount for the
Multicurrency Facility at such time; and

     (2) the aggregate Credit Facility Outstandings owing to any Multicurrency
Lender (after giving effect to any obligations of such Multicurrency Lender under
Section 2.01(h) and Section 2.02(e)(ii)) under the Multicurrency
Facility would exceed the Multicurrency Commitment of such Multicurrency Lender.

All Revolving Loans comprising the same Borrowing hereunder shall be made by the Domestic Lenders
or the Multicurrency Lenders, as the case may be, simultaneously and proportionately to their then
respective Pro Rata Shares of the applicable Credit Facility. Subject to the provisions hereof,
any Borrower may repay any outstanding Revolving Loan on any day which is a Business Day and any
amounts so repaid may be reborrowed, up to the amount available under this Section 2.01(a)
at the time of such Borrowing, until the Termination Date. Each Borrowing of Domestic Loans shall
be in Dollars, and each Borrowing of Multicurrency Loans shall be denominated in a single Specified
Foreign Currency. Each Borrowing of Revolving Loans shall be in an aggregate minimum amount of
$1,000,000 for Floating Rate Loans, $7,500,000 for Fixed Rate Loans under the Domestic Facility,
and $5,000,000 for Fixed Rate Loans under the Multicurrency Facility.

          (ii) Application of Converted Domestic Borrowing Base Excess. Upon at least seven
days’ prior written notice to the Administrative Agent, the Multicurrency Borrowers may elect to
apply all or a portion of the excess of the amount of (x) the Domestic Borrowing Base as in effect
based upon the most recently delivered Borrowing Base Certificate over (y) the Credit Facility
Outstandings for the Domestic Facility as of the proposed date of conversion, to support additional
Borrowings under the Multicurrency Facility. Such excess amount shall constitute the
“Converted Domestic Borrowing Base Excess”. The Multicurrency Borrowers shall not be
entitled to make such election if such election would result in the remaining portion of the
Domestic Borrowing Base being less than the Credit Facility Outstandings for the Domestic Facility
or if an Event of Default would result therefrom or is then outstanding. Nothing constituting
Converted Domestic Borrowing Base Excess shall be available to support Credit Facility Outstandings
under the Domestic Facility. Upon at least seven days’ prior written notice to the Administrative
Agent, the Multicurrency Borrowers may return all or a portion of the Converted Domestic Borrowing
Base Excess to the Domestic Borrowing Base in support of Credit

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Facility Outstandings under the Domestic Facility so long as such returned amount is not
required to support Credit Facility Outstandings under the Multicurrency Facility.

          (b) Swing Loans. The Swing Loan Bank may, in its sole discretion, make to the
Domestic Borrowers to whom the Domestic Loans are available loans (each a “Swing Loan”)
from time to time on any Business Day during the period from the Closing Date to the Termination
Date, in an aggregate amount not to exceed at any time the lesser of (i) $25,000,000 (the
“Maximum Swing Loan Amount”) and (ii) the Availability for the Domestic Facility at such
time. All Swing Loans made under the Domestic Facility shall be made as Floating Rate Loans and
shall be available in Dollars. Except as otherwise provided herein, all Swing Loans shall be
subject to all the terms and conditions applicable to Revolving Loans. Swing Loans shall be repaid
pursuant to the terms of Section 2.01(g) or as otherwise provided in this Agreement.

          (c) Overdraft Loans.

     (i) From time to time on any Business Day during the period from the Closing Date
to the Termination Date, upon presentment to the Overdraft Line Bank for payment of an
item drawn by a Multicurrency Borrower on a Euro Overdraft Account or Sterling
Overdraft Account (each an “Account” and collectively the “Accounts”)
with the Overdraft Line Bank in an amount that, when charged against the Account,
creates an overdraft in the Account, the Overdraft Line Bank shall pay such item to
the extent not subject to the limitations set forth in this Section
2.01(c)(i), and such payment shall be deemed an “Overdraft Loan”. Each
Overdraft Loan provided hereunder shall bear interest at the interest rate set forth
in Section 4.01(a)(ii). At no time shall the aggregate amount of Overdraft
Loans exceed the lesser of (A) the Overdraft Line Commitment and (B) the Availability
for the Multicurrency Facility at such time. Overdraft Loans shall be repaid pursuant
to the terms of Section 2.01(h) or as otherwise provided in this Agreement.

     (ii) Notwithstanding the foregoing clause (i), the Overdraft Line Bank
shall not make any Overdraft Loan in the period commencing on the second Business Day
after it receives written notice from any Multicurrency Lender that one or more of the
conditions precedent contained in Section 5.02 shall not on such date be
satisfied, and ending when such conditions are satisfied, and the Overdraft Line Bank
shall not otherwise be required to determine that, or take notice whether, the
conditions precedent set forth in Section 5.02 hereof have been satisfied in
connection with the making of any Overdraft Loan.

          (d) Notice of Borrowing in Respect of Revolving Loans and Swing Loans. When a
Borrower desires to make a Borrowing under clauses (a) and (b) of this Section
2.01, it shall deliver to the Administrative Agent in a manner specified in Section
14.08 a signed Notice of Borrowing no later than (i) (A) 3:00 p.m. (New York time) on the
proposed Funding Date for such Borrowing, in the case of a proposed Borrowing of Swing Loans, (B)
3:00 p.m. (New York time) at least one (1) Business Day in advance of the proposed Funding Date for
such Borrowing, in the case of a proposed Borrowing of Floating Rate Loans that cannot be provided
as Swing Loans and (C) 12:00 p.m. (New York time) at least three (3) Business Days in advance of
the proposed Funding Date for such Borrowing, in the case of a proposed Borrowing of Domestic Loans
consisting of Fixed Rate Loans or (ii) 3:00 p.m. (London time) at least four (4) Business Days in
advance of the proposed Funding Date for such Borrowing, in the case of a proposed Borrowing of
Multicurrency Loans. Any such Notice of Borrowing shall be irrevocable and, with respect to any
Notice of Borrowing under clause (i)(B) above made by any Domestic Borrower, shall first
constitute a request to borrow Swing Loans (other than a request for a Fixed Rate Loan); provided,
however, in the event the Administrative Agent after consultation with the Swing Loan Bank
determines that a Borrowing of Swing Loans is not possible or feasible, such Notice of Borrowing
shall constitute a

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request, as of the time such Notice of Borrowing was originally submitted, by such Borrower to
borrow Revolving Loans under the applicable Credit Facility; provided, further, however, all
Notices of Borrowing with respect to Fixed Rate Loans shall constitute a request by such Borrower
to borrow Revolving Loans under the Domestic Facility or the Multicurrency Facility, as the case
may be. All Domestic Loans made under this Section 2.01 on the Closing Date shall be made
initially as Floating Rate Loans and may thereafter be continued as Floating Rate Loans or
converted into Fixed Rate Loans in the manner provided in Section 4.01(c). All
Multicurrency Loans made under this Section 2.01 on the Closing Date shall be made
initially, at the discretion of the Administrative Agent, as Overdraft Loans or as Fixed Rate Loans
with an Interest Period of five days. In the case of a Notice of Borrowing delivered in connection
with a proposed Borrowing of Multicurrency Loans, the applicable Multicurrency Borrower shall
request, within one-half hour prior to the issuance of such Notice of Borrowing, the advice of the
Administrative Agent as to the Dollar Equivalent of the amount of such Borrowing, and such
Multicurrency Borrower shall specify such amount in such Notice of Borrowing; provided that such
advice shall not be deemed to be a prediction or guaranty of the Dollar Equivalent of such amount
after the Notice of Borrowing is submitted and shall in no way limit the Borrowers’ Obligations
under this Agreement due to fluctuations in the applicable Specified Foreign Currency; provided,
further, that if any Multicurrency Borrower requests such advice from the Administrative Agent
within one-half hour prior to the time that a Notice of Borrowing for Multicurrency Loans is
required to be delivered hereunder and the Administrative Agent does not provide such advice prior
to such time, such required delivery time shall be extended until the Administrative Agent provides
such advice.

          (e) Making of Swing Loans. Promptly after receipt of a Notice of Borrowing pursuant
to Section 2.01(d) with respect to the Borrowing of Floating Rate Loans under the Domestic
Facility, the Swing Loan Bank shall deposit in immediately available funds the amount it intends to
fund, if any, in respect of the Domestic Loans requested in such Notice of Borrowing with the
Administrative Agent at its office in New York, New York not later than 4:00 p.m. (New York time)
on the Funding Date. The Swing Loan Bank shall not make any Swing Loan in the period commencing on
the first Business Day after it receives written notice from any Domestic Lender that one or more
of the conditions precedent contained in Section 5.02 shall not on such date be satisfied,
and ending when such conditions are satisfied, and the Swing Loan Bank shall not otherwise be
required to determine that, or take notice whether, the conditions precedent set forth in
Section 5.02 hereof have been satisfied in connection with the making of any Swing Loan.
Subject to the preceding sentence, the Administrative Agent shall make such proceeds of each
funding of a Swing Loan available to the relevant Domestic Borrower at the Administrative Agent’s
office in New York, New York on the Funding Date of the proposed Borrowing and shall disburse such
proceeds to the Disbursement Account referred to in the applicable Notice of Borrowing. If the
Swing Loan Bank receives a Notice of Borrowing within the applicable time limits set forth in
Section 2.01(d) and does not intend to fund such requested Borrowing as a Swing Loan, the
Swing Loan Bank will promptly notify the Administrative Agent (to the extent the Swing Loan Bank
and the Administrative Agent are not the same Person) of such intention, and no delay by the Swing
Loan Bank shall impair the applicable Domestic Borrower’s right to borrow Revolving Loans under
this Section 2.01.

          (f) Making of Revolving Loans.

     (i) In the event any portion of the Loans requested in any Notice of Borrowing
delivered to the Administrative Agent pursuant Section 2.01(d) will be made as
Revolving Loans, the Administrative Agent shall promptly notify each Lender under the
applicable Credit Facility of the amount of such Borrowing of Revolving Loans. Each
such Lender shall deposit an amount equal to its Pro Rata Share under such Credit
Facility of the amount of such Borrowing with the Administrative Agent in the
applicable Funding

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Account in immediately available funds and in the appropriate currency, not later
than 3:00 p.m. (New York time) with respect to Domestic Loans or 1:30 p.m. (London
time) with respect to Multicurrency Loans on any Funding Date applicable thereto (or,
if the Funding Date is the Closing Date, such earlier time as the Administrative Agent
shall determine). Subject to the fulfillment of the conditions precedent set forth in
Section 5.01 (solely with respect to the making of Revolving Loans on the
Closing Date) and Section 5.02, the Administrative Agent shall make the
proceeds of such amounts received by it available to the applicable Borrower at the
Administrative Agent’s office in New York, New York, with respect to Domestic Loans,
or London, England, with respect to Multicurrency Loans, on such Funding Date and
shall disburse such proceeds to the Disbursement Account referred to in the applicable
Notice of Borrowing on such Funding Date.

     (ii) The failure of any Lender to deposit the amount described in clause
(i) above (or required to be paid pursuant to Section 2.01(g)) with the
Administrative Agent on the applicable Funding Date shall not relieve any other Lender
of its obligations hereunder to make its Revolving Loan on such Funding Date. No
Lender shall be responsible for any failure by any other Lender to perform its
obligation to make a Revolving Loan hereunder nor shall the Domestic Commitment or
Multicurrency Commitment of any Lender be increased or decreased as a result of any
such failure.

     (iii) Unless the Administrative Agent shall have been notified by any Lender
prior to 2:00 p.m. (New York time) with respect to Domestic Loans or 2:00 p.m. (London
time) with respect to Multicurrency Loans, on any applicable Funding Date in respect
of any Borrowing of Revolving Loans that such Lender does not intend to fund its Loan
requested to be made on such Funding Date, the Administrative Agent may assume that
such Lender has funded its Revolving Loan and is depositing the proceeds thereof in
the applicable Funding Account on the Funding Date, and the Administrative Agent in
its sole discretion may, but shall not be obligated to, disburse a corresponding
amount to the applicable Borrower on the Funding Date. If the Revolving Loan proceeds
corresponding to that amount are advanced to such Borrower by the Administrative Agent
but are not in fact deposited with the Administrative Agent by such Lender on or prior
to the applicable Funding Date, such Lender agrees to pay, and in addition such
Borrower agrees to repay, to the Administrative Agent forthwith on demand such
corresponding amount, together with interest thereon, for each day from the date such
amount is disbursed to or for the benefit of such Borrower until the date such amount
is paid or repaid to the Administrative Agent at the interest rate applicable to such
Borrowing. If such Lender shall pay to the Administrative Agent the corresponding
amount, the amount so paid shall constitute such Lender’s Revolving Loan, and if both
such Lender and such Borrower shall pay and repay such corresponding amount, the
Administrative Agent shall promptly pay to such Borrower such corresponding amount
(together with any interest included in such payment). This Section
2.01(f)(iii) does not relieve any Lender of its obligation to make its Revolving
Loan on any Funding Date.

     (iv) Anything hereinabove to the contrary notwithstanding, if any Multicurrency
Lender shall, not later than 2:00 p.m. (London time) one Business Day before the date
of any requested Borrowing of Multicurrency Loans, notify the Administrative Agent
that such Lender is not satisfied that deposits in the relevant Specified Foreign
Currency will be freely available to it in the relevant amount and, if applicable, for
the relevant Interest Period, the right of the Multicurrency Borrowers to request
Multicurrency Loans in such Specified Foreign Currency from such Lender or any
subsequent Borrowing of

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Multicurrency Loans shall be suspended until such Lender shall notify the
Administrative Agent that the circumstances causing such suspension no longer exist,
and, at the option of any Multicurrency Borrower, the Multicurrency Loan to be made by
such Lender (and the Multicurrency Loan to be made by such Lender as part of any
subsequent Borrowing of Multicurrency Loans in respect of which such Specified Foreign
Currency shall have been requested during such period of suspension) shall be
denominated in any other Specified Foreign Currency requested on the same Business Day
which is available, and having an Interest Period coextensive with the Interest Period
in effect in respect of all other Multicurrency Loans comprising a part of such
Borrowing. The Administrative Agent shall, upon becoming aware that the circumstances
causing any such suspension no longer apply, promptly so notify the Multicurrency
Borrowers, provided that the failure of the Administrative Agent to so notify the
Multicurrency Borrowers shall not impair the rights of the Lenders under this
Section 2.01(f)(iv) or expose the Administrative Agent to any liability.

          (g) Settlement of Swing Loans.

     (i) The Administrative Agent shall from time to time, in its sole discretion,
notify each Domestic Lender by 12:00 p.m. (New York time), of the aggregate principal
amount of Swing Loans outstanding as of the close of business on the Business Day
immediately preceding the date of such notice (each such Business Day being a
“Swing Loan Settlement Date”). Upon such notice, each Domestic Lender shall
deposit in the applicable Funding Account in Dollars an amount equal to its Pro Rata
Share under the Domestic Facility of the amount of such principal amount of Swing
Loans outstanding in immediately available funds, not later than 3:00 p.m. (New York
time) on the date of such notice. Upon such payment, each Domestic Lender shall be
deemed to have made a Revolving Loan denominated in Dollars to the applicable Borrower
or Borrowers in such amount (irrespective of the satisfaction of the conditions in
Section 5.02). Each Domestic Lender hereby agrees that its obligations under
this Section 2.01(g) are irrevocable and unconditional (except with respect to
Swing Loans made in contravention of the second sentence of Section 2.01(e))
notwithstanding (A) the nonconformity of the amount of the Loan with the minimum
amounts (and increments thereof) otherwise required hereunder, (B) whether any
conditions specified in Section 5.02 are then satisfied, (C) whether a Default
or Event of Default has occurred and is continuing, (D) the date of such Borrowing,
(E) the amount of the Domestic Borrowing Base, Multicurrency Borrowing Base, Total
Borrowing Base and Commitment at such time. In the event that any such Borrowing
cannot for any reason be made on the date otherwise required above (including, without
limitation, as a result of the commencement of a proceeding under the Bankruptcy Code
in respect of any Borrower), each Domestic Lender (other than the Swing Loan Bank)
hereby agrees that it shall forthwith purchase from the Swing Loan Bank (without
recourse or warranty) such assignment of the outstanding Swing Loans as shall be
necessary to cause the Domestic Lenders to share in such Swing Loans ratably based
upon their respective Pro Rata Shares of the Domestic Facility; provided, that all
interest payable on the Swing Loans shall be for the account of the Swing Loan Bank
until the date the respective assignment is purchased and, to the extent attributable
to the purchased assignment, shall be payable to the Domestic Lender purchasing the
same from and after such date of purchase.

     (ii) If and to the extent any Domestic Lender shall not have made available to
the Administrative Agent on any Swing Loan Settlement Date with respect to the
Domestic Facility any amount payable by such Domestic Lender on such Swing Loan
Settlement

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Date pursuant to this Section 2.01(g) or Section 2.01(h), such
Domestic Lender agrees to pay to the Administrative Agent forthwith on demand such
amount in Dollars together with interest thereon, for each day from such Swing Loan
Settlement Date until the date such amount is paid to the Administrative Agent, at the
interest rate applicable to the Loans denominated in such currency hereunder.

          (h) Settlement of Overdraft Loans.

     (i) The Administrative Agent shall from time to time, in its sole discretion (but
in no event less frequently than every five (5) Business Days), notify each
Multicurrency Lender by 3:00 p.m. (London time), of the aggregate principal amount of
Overdraft Loans outstanding as of the close of business on the Business Day
immediately preceding the date of such notice. Upon such notice, each Multicurrency
Lender shall deposit in its Funding Account in the appropriate Specified Foreign
Currency an amount equal to its Pro Rata Share under the Multicurrency Facility of the
amount of such principal amount of Overdraft Loans outstanding in immediately
available funds, not later than 4:00 p.m. (London time) on the Business Day following
such notice (such Business Day being an “Overdraft Settlement Date”). Upon
such payment, each Multicurrency Lender shall be deemed to have made a Revolving Loan
denominated in the applicable Specified Foreign Currency to the Multicurrency
Borrowers in such amount (irrespective of the satisfaction of the conditions in
Section 5.02). Each Multicurrency Lender hereby agrees that its obligations
under this Section 2.01(h) are irrevocable and unconditional (except with
respect to Overdraft Loans made in contravention of the second sentence of Section
2.01(c)(ii)) notwithstanding (A) the nonconformity of the amount of the Loan with
the minimum amounts (and increments thereof) otherwise required hereunder, (B) whether
any conditions specified in Section 5.02 are then satisfied, (C) whether a
Default or Event of Default has occurred and is continuing, (D) the date of such
Borrowing, (E) the amount of the Domestic Borrowing Base, Multicurrency Borrowing
Base, and Total Borrowing Base or Commitment at such time. In the event that any such
Borrowing cannot for any reason be made on the date otherwise required above
(including, without limitation, as a result of the commencement of a proceeding under
the Bankruptcy Code in respect of any Borrower), each Multicurrency Lender (other than
the Overdraft Line Bank) hereby agrees that upon the request of the Overdraft Line
Bank it shall forthwith purchase from the Overdraft Line Bank (without recourse or
warranty) all of the outstanding Overdraft Loans in accordance with their respective
Pro Rata Shares under the Multicurrency Facility; provided, that all interest payable
on the Overdraft Loans shall be for the account of the Overdraft Line Bank until the
date the respective assignment is purchased and, to the extent attributable to the
purchased assignment, shall be payable to each Multicurrency Lender purchasing the
same from and after such date of purchase.

     (ii) If and to the extent any Multicurrency Lender shall not have made available
to the Administrative Agent on any Overdraft Settlement Date with respect to the
Multicurrency Facility any amount payable by such Multicurrency Lender on such
Overdraft Settlement Date pursuant to this Section 2.01(h), such Multicurrency
Lender agrees to pay to the Administrative Agent forthwith on demand such amount in
the applicable currency together with interest thereon, for each day from such
Overdraft Settlement Date until the date such amount is paid to the Administrative
Agent, at the interest rate applicable to the Loans denominated in such currency
hereunder.

          (i) Use of Proceeds. Proceeds of Domestic Loans and of Swing Loans under the Domestic
Facility shall be used to (i) retire the Domestic Borrowers’ Refinanced Indebtedness;

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(ii) provide for ongoing working capital needs in the ordinary course of the business of Domestic
Borrowers and their Subsidiaries; and (iii) for other lawful general corporate purposes not
prohibited hereunder (including Capital Expenditures permitted hereunder). Proceeds of
Multicurrency Loans and of Overdraft Loans under the Multicurrency Facility shall be used to (x)
retire the Multicurrency Borrowers’ Refinanced Indebtedness; (y) provide for ongoing working
capital needs in the ordinary course of the business of each Multicurrency Borrower and its
Subsidiaries; and (z) for other lawful general corporate purposes not prohibited hereunder
(including Capital Expenditures permitted hereunder). Proceeds of Revolving Loans, Swing Loans and
Overdraft Loans may also be used to pay for transaction expenses incurred in connection herewith.

          (j) Termination Date. The Commitments shall terminate, and all outstanding
Obligations shall be Paid In Full, on the Termination Date.

          2.02. Letters of Credit. Subject to the terms and conditions set forth herein, (x)
each Issuing Bank hereby severally and not jointly agrees to Issue for the account of any Domestic
Borrower one or more Letters of Credit denominated in Dollars, up to an aggregate face amount at
any one time outstanding for all Domestic Borrowers equal to the Letter of Credit Sublimit of the
Domestic Facility and (y) each Issuing Bank hereby severally and not jointly agrees to Issue for
the account of the Multicurrency Borrowers one or more Letters of Credit denominated in a Specified
Foreign Currency, up to an aggregate face amount at any one time outstanding for the Multicurrency
Borrowers equal to the Letter of Credit Sublimit of the Multicurrency Facility, subject, in each
case, to the following provisions:

          (a) Types and Amounts. An Issuing Bank shall not have any obligation to Issue, and
shall not, except as otherwise agreed by the Requisite Lenders and such Issuing Bank (except with
respect to any notification received by an Issuing Bank pursuant to Section 2.02(a)(ii)(A),
which shall require the agreement of all of the Lenders and such Issuing Bank), Issue any Letter of
Credit at any time:

     (i) if the aggregate Letter of Credit Obligations with respect to such Issuing
Bank, after giving effect to the Issuance of the Letter of Credit requested hereunder,
shall exceed any limit imposed by law or regulation upon such Issuing Bank;

     (ii) if such Issuing Bank receives notice (A) from the Administrative Agent at or
before 11:00 a.m. (New York or London time, as applicable, with respect to a Letter of
Credit Issued under the Domestic Facility or the Multicurrency Facility, respectively)
on the date of the proposed Issuance of such Letter of Credit that, immediately after
giving effect to the Issuance of such Letter of Credit, the Credit Facility
Outstandings in respect of the Domestic Facility or the Multicurrency Facility, as
applicable, at such time would exceed the Maximum Credit Amount for such Credit
Facility or (B) from any of the Lenders at or before 11:00 a.m. (New York or London
time, as applicable, with respect to a Letter of Credit Issued under the Domestic
Facility or the Multicurrency Facility, respectively) on the date of the proposed
Issuance of such Letter of Credit that one or more of the conditions precedent
contained in Sections 5.01 (solely with respect to an Issuance of a Letter of
Credit on the Closing Date) and 5.02 would not on such date be satisfied (or
waived pursuant to Section 14.07), unless such conditions are thereafter
satisfied or waived and notice of such satisfaction or waiver is given to such Issuing
Bank by the Administrative Agent (and an Issuing Bank shall not otherwise be required
to determine that, or take notice whether, the conditions precedent set forth in
Sections 5.01 or 5.02, as applicable, have been satisfied or waived);

     (iii) which has an expiration date later than the earlier of (A) the date one (1)
year after the date of Issuance or (B) the Business Day next preceding the Termination
Date;

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provided, that a Letter of Credit may have an expiration date later than
the Business Day next preceding the Termination Date or any date within one year after
the Issuance date therefor so long as, with respect to any Letter of Credit that would
expire after the Termination Date, the Borrowers, at least five Business Days prior to
the Termination Date, satisfy the Letter of Credit Cash Collateralization Conditions
in respect of such Letter of Credit; provided, further, that, with
respect to any Letter of Credit which remains outstanding following the Termination
Date, no such amount posted as collateral in respect of any such Letter of Credit
shall be returned to the Borrowers until such Letter of Credit has expired or been
replaced or all Obligations with respect to such Letter of Credit have been paid in
full or terminated.

     (iv) which is in a currency other than (A) a Dollars with respect to Letters of
Credit requested by the Domestic Borrowers and (B) a Specified Foreign Currency with
respect to Letters of Credit requested by the Multicurrency Borrowers;

     (v) the Issuance and terms of which is governed by the laws of any jurisdiction
other than the United States, England or any other jurisdiction which is approved by
the Administrative Agent and the applicable Issuing Bank; or

     (vi) of which the date of Issuance is less than eleven (11) Business Days before
the Termination Date.

          (b) Conditions. In addition to being subject to the satisfaction of the conditions
precedent contained in Sections 5.01 (solely with respect to an Issuance of a Letter of
Credit on the Closing Date) and 5.02, the obligation of an Issuing Bank to Issue any Letter
of Credit is subject to the satisfaction in full of the following conditions:

     (i) if such Issuing Bank so requests, the applicable Borrower shall have executed
and delivered to such Issuing Bank and the Administrative Agent a Letter of Credit
Reimbursement Agreement and such other documents and materials as may be required
pursuant to the terms thereof; and

     (ii) the terms of the proposed Letter of Credit shall conform to the customary
terms of letters of credit issued by such Issuing Bank.

          (c) Issuance of Letters of Credit.

     (i) A Borrower shall deliver to the applicable Issuing Bank and the
Administrative Agent in a manner specified in Section 14.08 a signed Notice of
Letter of Credit Issuance not later than 11:00 a.m. (New York or London time, as
applicable with respect to a Letter of Credit issued under the Domestic Facility or
the Multicurrency Facility, respectively) on the third Business Day preceding the
requested date for Issuance of a Letter of Credit hereunder, or such shorter notice as
may be acceptable to such Issuing Bank and the Administrative Agent. Such notice
shall be irrevocable. In the case of a Notice of Letter of Credit Issuance requesting
the Issuance of a Letter of Credit denominated in any Specified Foreign Currency, the
relevant Multicurrency Borrower shall request, within one-half hour prior to the
issuance of such Notice of Letter of Credit Issuance, the advice of the Administrative
Agent as to the Dollar Equivalent of the face amount of the requested Letter of
Credit, and such Multicurrency Borrower shall specify such amount in such Notice of
Letter of Credit Issuance; provided that such advice shall not be deemed to be a
prediction or guaranty of the Dollar Equivalent of such amount after the Notice of
Letter of Credit

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Issuance is submitted and shall in no way limit the Borrowers’ Obligations under
this Agreement or, if applicable, any Letter of Credit Reimbursement Agreement due to
fluctuations in the applicable Specified Foreign Currency; provided, further, that if
the relevant Multicurrency Borrower requests such advice from the Administrative Agent
within one-half hour prior to the time that a Notice of Letter of Credit Issuance is
required to be delivered hereunder and the Administrative Agent does not provide such
advice prior to such time, such required delivery time shall be extended until the
Administrative Agent provides such advice.

     (ii) Such Issuing Bank shall give the Administrative Agent written notice, or
telephonic notice confirmed promptly thereafter in writing, of the Issuance of a
Letter of Credit.

          (d) Reimbursement Obligations; Duties of the Issuing Banks.

     (i) Notwithstanding any provision to the contrary in any Letter of Credit
Reimbursement Agreement:

(A) each Borrower for whose account a Letter of Credit has been Issued agrees to
reimburse the applicable Issuing Bank in the applicable currency for amounts drawn
under such Letter of Credit pursuant to subsection (e)(ii) below, no later
than the date (the “Reimbursement Date”) which is one (1) Business Day after
such Borrower receives written notice from any Issuing Bank that payment has been
made under such Letter of Credit by such Issuing Bank;

(B) all Reimbursement Obligations with respect to any Letter of Credit Issued under
the Domestic Facility shall bear interest at the Floating Rate plus the
Applicable Floating Rate Margin, from the date of the relevant drawing under such
Letter of Credit until the Reimbursement Date and thereafter at the rate applicable
in accordance with Section 4.01(d); and

(C) all Reimbursement Obligations with respect to any Letter of Credit Issued under
the Multicurrency Facility shall bear interest at the Overdraft Rate plus
the Overdraft Rate Margin plus the Mandatory Cost, from the date of the
relevant drawing under such Letter of Credit until the Reimbursement Date and
thereafter at the rate applicable in accordance with Section 4.01(d).

     (ii) Each Issuing Bank shall give the Administrative Agent written notice, or
telephonic notice confirmed promptly thereafter in writing, of all drawings under a
Letter of Credit issued by such Issuing Bank and the payment (or the failure to pay
when due) by the Borrowers on account of a Reimbursement Obligation.

     (iii) No action taken or omitted in good faith by an Issuing Bank under or in
connection with any Letter of Credit (except for any such action resulting from the
gross negligence or willful misconduct of such Issuing Bank) shall put such Issuing
Bank under any resulting liability to any Lender, any Borrower or, so long as such
Letter of Credit is not Issued in violation of Section 2.02(a), relieve any
Lender of its obligations hereunder to such Issuing Bank. In determining whether to
pay under any Letter of Credit, the respective Issuing Bank shall have no obligation
to the Lenders or any Borrower other than to confirm that any documents required to be
delivered under a respective Letter of Credit

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appear to have been delivered by the appropriate Person and that they appear on
their face to comply with the requirements of such Letter of Credit.

          (e) Participations.

     (i) Immediately upon Issuance by an Issuing Bank of any Letter of Credit under
the Domestic Facility or the Multicurrency Facility, as applicable, for the account of
any Borrower under such Credit Facility in accordance with the procedures set forth in
this Section 2.02, each Lender holding a Commitment in such Credit Facility
shall be deemed to have irrevocably and unconditionally purchased and received from
that Issuing Bank, without recourse or warranty, an undivided interest and
participation in such Letter of Credit to the extent of such Lender’s Pro Rata Share
under the applicable Credit Facility, including, without limitation, all obligations
of such Borrower with respect thereto (other than amounts owing to the Issuing Banks
under Section 2.02(g)) and any security therefor and guaranty pertaining
thereto.

     (ii) If any Issuing Bank makes any payment under any Letter of Credit for the
account of any Borrower and such Borrower does not repay such amount to such Issuing
Bank on the Reimbursement Date, such Issuing Bank shall promptly notify the
Administrative Agent, which shall notify the Swing Loan Bank (with respect to any
Domestic Borrower) or the Overdraft Line Bank (with respect to the Multicurrency
Borrowers), and if the Swing Loan Bank or Overdraft Line Bank, as applicable, so
elects, a Swing Loan under the Domestic Facility or an Overdraft Loan under the
Multicurrency Facility, as applicable, can be made in such amount, the proceeds of
which shall be paid to the Administrative Agent for the account of such Issuing Bank,
in immediately available funds, and the Administrative Agent shall promptly pay such
proceeds to such Issuing Bank. In the event such Issuing Bank cannot be so paid from
proceeds of a Swing Loan or an Overdraft Loan, as applicable, the Administrative Agent
shall promptly notify each Lender under such Credit Facility, and each such Lender
shall promptly and unconditionally pay to the Administrative Agent for the account of
such Issuing Bank, in immediately available funds, the amount in the relevant Optional
Currency of such Lender’s Pro Rata Share under the applicable Credit Facility of the
payment made by such Issuing Bank, and the Administrative Agent shall promptly pay to
such Issuing Bank such amounts received by it. In the event such payments are made by
such Lenders, such payments shall constitute Revolving Loans made to the applicable
Borrower under the applicable Credit Facility pursuant to Section 2.01
(irrespective of the satisfaction of the conditions in Section 5.02). If a
Lender does not make its Pro Rata Share under the applicable Credit Facility of the
amount of any such payment available to the Administrative Agent, such Lender agrees
to pay to the Administrative Agent for the account of such Issuing Bank, forthwith on
demand, such amount together with interest thereon, at the interest rate then
applicable in accordance with Section 4.01. The failure of any such Lender to
make available to the Administrative Agent for the account of such Issuing Bank its
Pro Rata Share under the applicable Credit Facility of any such payment shall neither
relieve any other Lender of its obligation hereunder to make available to the
Administrative Agent for the account of such Issuing Bank such other Lender’s Pro Rata
Share under the applicable Credit Facility of any payment on the date such payment is
to be made nor increase the obligation of any other Lender to make such payment to the
Administrative Agent. This Section does not relieve any Borrower of its obligation to
pay or repay any Lender funding its Pro Rata Share of such payment pursuant to this
Section

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interest on the amount of such payment from such date such payment is to be made
until the date on which payment is repaid in full.

     (iii) Whenever an Issuing Bank receives a payment on account of a Reimbursement
Obligation, including any interest thereon, as to which the Swing Loan Bank has made a
Swing Loan, the Overdraft Line Bank has made an Overdraft Loan or any Lender has made
a Revolving Loan pursuant to Section 2.02(e)(ii), such Issuing Bank shall
promptly pay to the Administrative Agent such payment in accordance with Section
3.02.

     (iv) Upon the request of any Lender under the applicable Credit Facility, an
Issuing Bank shall furnish such Lender copies of any Letter of Credit or Letter of
Credit Reimbursement Agreement to which such Issuing Bank is party and such other
documentation as reasonably may be requested by such Lender.

     (v) The obligations of any Lender to make payments to the Administrative Agent
for the account of any Issuing Bank with respect to a Letter of Credit shall be
irrevocable, shall not be subject to any qualification or exception whatsoever (except
the Issuance of the Letter of Credit in contravention of this Section 2.02)
and shall be made in accordance with this Agreement (irrespective of the satisfaction
of the conditions described in Sections 5.01 and 5.02) under all
circumstances, including, without limitation, any of the following circumstances:

(A) any lack of validity or enforceability hereof or of any of the other Loan
Documents;

(B) the existence of any claim, setoff, defense or other right which any Borrower
may have at any time against a beneficiary named in a Letter of Credit or any
transferee of a beneficiary named in a Letter of Credit (or any Person for whom any
such transferee may be acting), the Administrative Agent, any Issuing Bank, any
Lender, or any other Person, whether in connection herewith, with any Letter of
Credit, the transactions contemplated herein or any unrelated transactions
(including any underlying transactions between the account party and beneficiary
named in any Letter of Credit);

(C) any draft, certificate or any other document presented under the Letter of
Credit having been determined to be forged, fraudulent, invalid or insufficient in
any respect or any statement therein being untrue or inaccurate in any respect;

(D) the surrender or impairment of any security for the performance or observance of
any of the terms of any of the Loan Documents;

(E) any failure by such Issuing Bank to make any reports required pursuant to
Section 2.02(h) or the inaccuracy of any such report; or

(F) the occurrence of any Event of Default or Default.

(f) Payment of Reimbursement Obligations.

     (i) Each Borrower for whose account a Letter of Credit has been Issued
unconditionally agrees to pay to each Issuing Bank the amount of all Reimbursement
Obligations, interest and other amounts payable to such Issuing Bank under or in
connection with such Letter of Credit when such amounts are due and payable,
irrespective

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of any claim, setoff, defense or other right which such Borrower may have at any
time against such Issuing Bank or any other Person.

     (ii) In the event any payment by a Borrower received by an Issuing Bank with
respect to a Letter of Credit Issued for the account of such Borrower and distributed
by the Administrative Agent to the Lenders under the applicable Credit Facility on
account of their participation is thereafter set aside, avoided or recovered from such
Issuing Bank in connection with any receivership, liquidation or bankruptcy
proceeding, each such Lender which received such distribution shall, upon demand by
such Issuing Bank, contribute such Lender’s Pro Rata Share under such Credit Facility
of the amount set aside, avoided or recovered together with interest at the rate
required to be paid by such Issuing Bank upon the amount required to be repaid by it.

          (g) Issuing Bank Fees and Charges. Each Borrower for whose account a Letter of Credit
has been Issued agrees to pay to each Issuing Bank, solely for its own account, (i) a fronting fee
in an amount equal to one-quarter of one percent (0.25%) on the face amount of such Letter of
Credit, and (ii) the standard charges assessed by such Issuing Bank in connection with the
issuance, administration, amendment and payment or cancellation of such Letter of Credit.

          (h) Issuing Bank Reporting Requirements. Each Issuing Bank shall, on the day it
Issues such a Letter of Credit, provide to the Administrative Agent separate schedules for
Commercial Letters of Credit and Standby Letters of Credit Issued by it, in form and substance
reasonably satisfactory to the Administrative Agent, setting forth the aggregate Letter of Credit
Obligations of each Borrower under the applicable Credit Facility outstanding to it as of such date
and any information requested by the Administrative Agent relating to the date of issue, account
party, amount, expiration date and reference number of each Letter of Credit Issued by it. On each
Overdraft Settlement Date (with respect to the Multicurrency Facility) and on each Swing Loan
Settlement Date (with respect to the Domestic Facility), the Administrative Agent shall provide to
each Lender under the applicable Credit Facility copies of the most recent schedules provided to it
by each Issuing Bank under such Credit Facility.

          (i) Indemnification; Exoneration.

     (i) In addition to all other amounts payable to an Issuing Bank, each Borrower
for whose account such Issuing Bank has Issued a Letter of Credit agrees to defend,
indemnify, and save the Administrative Agent, such Issuing Bank and each Lender under
the applicable Credit Facility harmless from and against any and all claims, demands,
liabilities, penalties, damages, losses (other than loss of profits), costs, charges
and expenses (including reasonable attorneys’ fees but excluding taxes) which the
Administrative Agent, such Issuing Bank or such Lender may incur or be subject to as a
consequence, direct or indirect, of (A) the Issuance of such Letter of Credit other
than as a result of the gross negligence or willful misconduct of such Issuing Bank,
as determined by a court of competent jurisdiction, or (B) the failure of such Issuing
Bank Issuing a Letter of Credit to honor a drawing under such Letter of Credit as a
result of any act or omission, whether rightful or wrongful, of any present or future
de jure or de facto government or Governmental
Authority.

     (ii) As between the Domestic Borrowers on the one hand and the Administrative
Agent, the Domestic Lenders and the Issuing Banks on the other hand, such Borrowers
assume all risks of the acts and omissions of, or misuse of Letters of Credit by, the
respective beneficiaries of the Letters of Credit Issued pursuant to the Domestic
Facility. As between the Multicurrency Borrowers on the one hand and the
Administrative Agent,

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the Multicurrency Lenders and the Issuing Banks on the other hand, such Borrowers
assume all risks of the acts and omissions of, or misuse of Letters of Credit by, the
respective beneficiaries of the Letters of Credit issued pursuant to the Multicurrency
Facility. In furtherance and not in limitation of the foregoing, subject to the
provisions of the Letter of Credit Reimbursement Agreements, the Administrative Agent,
the Issuing Banks and the Lenders shall not be responsible for: (A) the form,
validity, legality, sufficiency, accuracy, genuineness or legal effect of any document
submitted by any party in connection with the application for and Issuance of the
Letters of Credit, even if it should in fact prove to be in any or all respects
invalid, insufficient, inaccurate, fraudulent or forged; (B) the validity, legality or
sufficiency of any instrument transferring or assigning or purporting to transfer or
assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in
whole or in part, which may prove to be invalid or ineffective for any reason; (C)
failure of the beneficiary of a Letter of Credit to comply duly with conditions
required in order to draw upon such Letter of Credit; (D) errors, omissions,
interruptions or delays in transmission or delivery of any messages, by mail, cable,
telegraph, telex or otherwise, whether or not they be in cipher; (E) errors in
interpretation of technical terms; (F) any loss or delay in the transmission or
otherwise of any document required in order to make a drawing under any Letter of
Credit or of the proceeds thereof; (G) the misapplication by the beneficiary of a
Letter of Credit of the proceeds of any drawing under such Letter of Credit; (H) any
litigation, proceeding or charges with respect to such Letter of Credit; and (I) any
consequences arising from causes beyond the control of the Administrative Agent, the
Issuing Banks or the Lenders; except in the cases of clauses (A) (with respect
to form only), (B), (C), (D), (E), (F), (H) and (I) above, for the
gross negligence or willful misconduct of the Issuing Banks, as determined in a
judgment by a court of competent jurisdiction.

          (j) Obligations Several. The obligations of each Issuing Bank and each Domestic
Lender under this Section 2.02 are several and not joint, and no Issuing Bank or Domestic
Lender shall be responsible for the obligation to Issue Letters of Credit or participation
obligation hereunder, respectively, of any other Issuing Bank or Domestic Lender.

          (k) Limitations on Obligations to Issue Letters of Credit. Notwithstanding anything
herein to the contrary, neither Bank of America, N.A. (and its Affiliates) nor Citicorp North
America, Inc. (and its Affiliates) shall have any obligation to issue Letters of Credit in an
aggregate undrawn face amount of greater than 50% of the applicable Letter of Credit Sublimit at
any time. If any Person becomes an Issuing Bank at any time after the Closing Date, such Person
shall not have any obligation to issue Letters of Credit in an aggregate undrawn face amount
greater than the amount specified in the agreement pursuant to which such Person agree to become an
Issuing Bank.

          (l) For all purposes of the Loan Documents, the letters of credit identified on Schedule
2.02 shall be deemed to be “Letters of Credit” issued by the respective Issuing Banks
identified on such Schedule.

          2.03. Expansion Option.

          (a) The Borrowers may from time to time elect to increase the Commitments, in each case in
minimum increments of $10,000,000 so long as, after giving effect thereto, the aggregate amount of
such increases from and after the Closing Date does not exceed $50,000,000. The Borrowers may
arrange for any such increase to be provided by one or more Lenders (each Lender so agreeing to an
increase in its Commitment, an “Increasing Lender”), or by one or more new banks, financial
institutions or other entities (each such new bank, financial institution or other entity, an
“Augmenting Lender”), as

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the case may be; provided that (i) each Augmenting Lender and each increase by each Increasing
Lender shall be subject to the written consent of the Administrative Agent, each Issuing Bank and
the Swing Loan Bank and (ii) (x) in the case of an Increasing Lender, the Borrowers and such
Increasing Lender execute an agreement substantially in the form of Exhibit U hereto, and
(y) in the case of an Augmenting Lender, the Borrowers and such Augmenting Lender execute an
agreement substantially in the form of Exhibit V hereto. If the proceeds of such increase
will be used directly or indirectly to repay obligations under any Permitted Term B Loan, any
increase in the Commitments pursuant to this Section 2.03 shall also be subject to the
consent of the Requisite Lenders, the Administrative Agent and the Syndication Agent. Each
increase in commitments shall be allocated to one or more of the Credit Facilities.
Notwithstanding anything herein to the contrary, the Multicurrency Commitments shall not exceed
$100,000,000 at any time.

          (b) Increases and new Commitments created pursuant to this Section 2.03 shall become effective
on the date agreed by the Borrowers, the Administrative Agent, the Issuing Banks, the Swing Loan
Bank, the Syndication Agent (if applicable) and the relevant Increasing Lenders or Augmenting
Lenders and the Administrative Agent shall notify each Lender thereof. Notwithstanding the
foregoing, no increase in the Commitments shall become effective under this paragraph unless, (i)
on the proposed date of the effectiveness of such increase, the conditions set forth 5.02 shall be
satisfied or waived by the Requisite Lenders, (ii) the Administrative Agent shall have received
documents (including opinions) as to the corporate power and authority of the Borrowers to borrow
hereunder after giving effect to such increase and (iii) the Administrative Agent shall have
received documents (including opinions) reasonably requested by it to evidence the reaffirmation
and continued effectiveness of the Loan Documents.

          (c) On the effective date of any increase in the Commitments being made, (i) each relevant
Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such
amounts in immediately available funds as the Administrative Agent shall determine, for the benefit
of the other Lenders, as being required in order to cause, after giving effect to such increase and
the use of such amounts to make payments to such other Lenders, each Lender’s portion of the
outstanding Credit Facility Outstandings under each applicable Credit Facility to equal its Pro
Rata Share of such Credit Facility Outstandings, and (ii) the Borrowers shall be deemed to have
repaid and reborrowed all outstanding Loans as of the date of any increase in the Commitments. The
deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be
accompanied by payment of all accrued interest on the amount prepaid and, in respect of each Fixed
Rate Loan, shall be subject to indemnification by the Borrowers pursuant to the provisions of
Section 4.02(e) if the deemed payment occurs other than on the last day of the related
Interest Periods.

          (d) In no event shall the fees, interest rates and other compensation offered or paid in
respect of additional or increased Commitments under this Section 2.03 have higher rates, fees or
compensation that amounts paid and payable to the then existing Lenders in respect of their
Commitments and Loans.

          2.04. Evidence of Indebtedness. Each Borrower hereby agrees to pay when due the
principal amount of each Loan which is made to it and other Obligations owing by it (whether or not
evidenced by a Note), and further agrees to pay all unpaid interest accrued thereon, in accordance
with the terms hereof and, to the extent evidenced thereby, of the Notes. On the Closing Date, (a)
the Domestic Borrowers shall execute and deliver to each Domestic Lender that requests a Domestic
Loan Note, a Domestic Loan Note in a principal amount equal to the maximum amount of such Lender’s
Domestic Commitment evidencing the Loans to such Borrowers made under the Domestic Facility, (b)
the Multicurrency Borrowers shall execute and deliver to each Multicurrency Lender that requests a
Multicurrency Loan Note, a Multicurrency Loan Note in a principal amount equal to the maximum

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amount of such Multicurrency Lender’s Multicurrency Commitment evidencing the Loans to such
Borrowers made under the Multicurrency Facility, and (c) the Domestic Borrowers shall execute and
deliver to the Swing Loan Bank a Swing Loan Note in a principal amount equal to the Maximum Swing
Loan Amount. Thereafter each Borrower, as applicable, shall execute and deliver such other
promissory notes substantially as are requested by any Lenders to evidence the Loans owing to the
applicable Lenders, provided that any promissory notes being replaced are returned to such Borrower
or other arrangements satisfactory to such Borrower and the Administrative Agent are made. Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the
Indebtedness of the Borrowers to such Lender under each Credit Facility in which it is a Lender
resulting from each Loan made under such Credit Facility owing to such Lender from time to time,
including the amount of principal and interest payable and paid to such Lender from time to time
hereunder and under each of the Notes.

          2.05. Authorized Officers and Administrative Agents. On the Closing Date and from
time to time thereafter, the Borrowers shall deliver to the Administrative Agent an Officers’
Certificate setting forth the names of the officers, employees and agents authorized to request
Revolving Loans, Swing Loans, Overdraft Loans and Letters of Credit and containing a specimen
signature of each such officer, employee or agent. The officers, employees and agents so
authorized shall also be authorized to act for the Borrowers in respect of all other matters
relating to the Loan Documents. The Administrative Agent shall be entitled to rely conclusively on
such officer’s or employee’s authority to request such Loan or Letter of Credit until the
Administrative Agent receives written notice to the contrary. In addition, the Administrative
Agent shall be entitled to rely conclusively on any written notice sent to it by telecopy. The
Administrative Agent shall have no duty to verify the authenticity of the signature appearing on,
or any telecopy or facsimile of, any written Notice of Borrowing or any other document, and, with
respect to an oral request for such a Loan or Letter of Credit, the Administrative Agent shall have
no duty to verify the identity of any person representing himself or herself as one of the
officers, employees or agents authorized to make such request or otherwise to act on behalf of the
Borrowers. None of the Administrative Agent, any Lender or any Issuing Bank shall incur any
liability to the Borrowers or any other Person in acting upon any telecopy or facsimile or
telephonic notice referred to above which the Administrative Agent reasonably believes to have been
given by a duly authorized officer or other person authorized to act on behalf of the Borrowers.

          2.06. Booking of Loans and Letters of Credit. Any Lender and any Issuing Bank may
make, carry or transfer Loans or Issue Letters of Credit at, to or for the account of its Fixed
Rate Lending Office or Fixed Rate Affiliate or its other offices or Affiliates (without complying
with the requirements of Section 13.01). No Lender shall be entitled, however, to receive
any greater amount under Sections 3.04, 3.05, 3.08, 4.01(f) or
4.02(e) as a result of the transfer of any such Loan or Letter of Credit to any office
(other than such Fixed Rate Lending Office) or any Affiliate (other than such Fixed Rate Affiliate)
than such Lender or such Issuing Bank would have been entitled to receive immediately prior
thereto, unless, such Lender or such Issuing Bank, as the case may be, provides reasonably
satisfactory evidence to the Company that (i) the transfer occurred at a time when circumstances
giving rise to the claim for such greater amount did not exist and (ii) such claim in the relevant
amount would have arisen even if such transfer had not occurred. No Fixed Rate Affiliate or such
other Affiliate of any Lender or any Issuing Bank shall, in its capacity as such, be deemed a party
hereto or have any liability or obligation hereunder.

ARTICLE III

PAYMENTS AND PREPAYMENTS

          3.01. Prepayments; Reductions in and Reallocations of Commitments. All payments in
respect of the Domestic Borrowers’ Obligations shall be made to the Domestic Concentration Account

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and all payments in respect of the Multicurrency Borrowers’ Obligations shall be made to the
Multicurrency Payment Account.

          (a) Voluntary Reductions of Commitments.

     (i) Subject to Section 3.01(e), the Domestic Borrowers, upon at least
three (3) Business Days’ prior written notice to the Administrative Agent, shall have
the right, from time to time, to terminate in whole the Domestic Commitments or
permanently reduce in part the Domestic Commitments, provided that the Domestic
Borrowers shall have made or caused to be made any payment required to be made
pursuant to Section 3.01(b)(i) after giving effect to such reduction. Subject
to Section 3.01(e), the Multicurrency Borrowers, upon at least five (5)
Business Days’ prior written notice to the Administrative Agent, shall have the right,
from time to time, to terminate in whole the Multicurrency Commitment or permanently
reduce in part the Multicurrency Commitment, provided that the Multicurrency Borrowers
shall have made or caused to be made any payment required to be made pursuant to
Section 3.01(b)(i) after giving effect to such reduction.

     (ii) Any partial reduction of a Lender’s Commitment (A) shall be applied to such
Lender’s applicable Commitment, (B) shall be in an aggregate minimum amount of
$5,000,000 and integral multiples of $1,000,000 in excess of that amount, and (C)
shall reduce the aggregate applicable Commitment of such Lender (or, where applicable,
its Affiliate) proportionately in accordance with their aggregate Pro Rata Share of
all Credit Facilities. Any notice of termination or reduction given to the
Administrative Agent under this Section 3.01(a) shall specify the date (which
shall be a Business Day) of such termination or reduction and, with respect to a
partial reduction, the aggregate principal amount thereof. When notice of termination
or reduction of any Commitment is delivered as provided herein, the principal amount
of the Revolving Loans under the Credit Facility so reduced shall become due and
payable on the date specified in such notice to the extent the Credit Facility
Outstandings under such Credit Facility would exceed the Maximum Credit Amount for
such Credit Facility after giving effect to such reduction. The payments in respect
of reductions and terminations described in this Section 3.01(a) may be made
without premium or penalty (except as provided in Section 4.02(e)).

          (b) Mandatory Prepayments of Revolving Loans.

     (i) Immediately, if at any time the Credit Facility Outstandings under any
Credit Facility are greater than the Maximum Credit Amount for such Credit Facility,
the applicable Borrower or Borrowers shall make a mandatory repayment of such Credit
Facility Outstandings in an aggregate amount sufficient to reduce any such excess to
zero, such amounts to be applied to the Obligations of the Borrower or Borrowers
making such payments in accordance with Section 3.02. In addition, if at any
time the Maximum Credit Amount for any Credit Facility is less than the amount of
contingent Letter of Credit Obligations outstanding under such Credit Facility at such
time, the applicable Borrower or Borrowers agree to deposit and maintain Cash
Collateral in the applicable Cash Collateral Account in a Dollar Equivalent amount
equal to the amount by which such Letter of Credit Obligations exceed such Maximum
Credit Amount.

     (ii) Prior to 1:00 p.m. (New York time), with respect to payments under the
Domestic Facility, and 2:00 p.m. (London time), with respect to payments under the
Multicurrency Facility, on each Business Day, from funds on deposit in (A) (x) the
Domestic Concentration Account and (y) if necessary to repay in full all Credit
Facility

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Outstandings under the Domestic Facility, the Domestic Cash Collateral Account,
and (B) (x) the Multicurrency Concentration Accounts and (y) if necessary to repay in
full all Credit Facility Outstandings under the Multicurrency Facility, the
Multicurrency Cash Collateral Accounts, the Administrative Agent shall transfer funds
in accordance with Section 3.06 and thereby cause (1) the Domestic Borrowers
(in the case of clause (A) above) to make a mandatory repayment of the Credit
Facility Outstandings owing by such Domestic Borrowers on such Business Day in an
amount equal to: first, [RESERVED], second, any and all outstanding
Protective Advances made on behalf of such Borrowers, third, any and all
outstanding Swing Loans made to such Borrowers, fourth, any and all
outstanding Revolving Loans made to such Borrowers, and fifth, the repayment
of the Credit Facility Outstandings and other Obligations owing by such Borrowers then
outstanding, in each case in accordance with the applicable provisions of Section
3.02, and (2) the Multicurrency Borrowers (in the case of clause (B)
above) to make a mandatory repayment of the Credit Facility Outstandings owing by such
Multicurrency Borrowers on such Business Day in an amount equal to: first,
[RESERVED], second, any and all outstanding Protective Advances made on behalf
of such Borrowers, third, [RESERVED], fourth, any and all outstanding
Overdraft Loans made to such Multicurrency Borrowers, fifth, any and all
outstanding Revolving Loans made to such Multicurrency Borrowers, and sixth,
the repayment of the Credit Facility Outstandings and other Obligations owing by such
Multicurrency Borrowers then outstanding, in each case in accordance with the
applicable provisions of Section 3.02.

     (iii) Subject to the terms and conditions of the Term B Loan Documents and the
Term B Loan Intercreditor Agreement, immediately (or, in the case of Net Cash Proceeds
of Sale under Section 8.13(b), five (5) Business Days) after any Borrower’s or
any Borrower Subsidiary’s receipt of any Net Cash Proceeds of Sale, each Borrower
receiving, or the Subsidiary of which has received, such Net Cash Proceeds of Sale
agrees to make or cause to be made a mandatory prepayment of its Loans in an amount
equal to one hundred percent (100%) of such Net Cash Proceeds of Sale, such amounts to
be applied to the Obligations of the (A) if such Borrower is a Domestic Borrower, the
Domestic Borrowers and the Multicurrency Borrowers, and (B) if such Borrower is a
Multicurrency Borrower, the Multicurrency Borrowers, in each case, in accordance with
Section 3.02. Each mandatory prepayment required to be paid by any Borrower
by this Section 3.01(b)(iii) shall be allocated and applied first, to
the repayment of the Revolving Loans owed by the applicable Borrowers; second,
to any remaining non-contingent Obligations of the applicable Borrowers; and
then, to the extent any such Obligations are contingent, deposited in the
applicable Cash Collateral Account as Cash Collateral in respect of such contingent
Obligations. Each mandatory prepayment required to be paid by any Borrower by this
Section 3.01(b)(iii) shall be followed by a corresponding permanent reduction
of the Commitments under the Credit Facility applicable to such Borrower in an amount
equal to the related Net Cash Proceeds of Sale which have not been reinvested in
Additional Assets on or before the one-year anniversary of the receipt of such Net
Cash Proceeds of Sale, with such reduction taking effect on the one year anniversary
after such receipt; provided, however, that such reduction shall take effect prior to
such date if the applicable Borrower notifies the Administrative Agent that it does
not intend to reinvest such Net Cash Proceeds of Sale in Additional Assets (all such
reductions shall reduce the aggregate Commitments of each Lender (and where
applicable, its Affiliate) proportionately in accordance with its (or their, where
applicable) aggregate Pro Rata Share of all Credit Facilities).

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     (iv) Subject to the terms and conditions of the Term B Loan Documents and the
Term B Loan Intercreditor Agreement, immediately after any Borrower’s or any of the Borrower Subsidiaries receipt of any Net Cash Proceeds of Issuance of Equity
Securities or Indebtedness, each Borrower receiving, or the Subsidiary of which has
received, such Net Cash Proceeds of Issuance of Equity Securities or Indebtedness
agrees to make or cause to be made a mandatory prepayment of its Loans in an amount
equal to one hundred percent (100%) of such Net Cash Proceeds of Issuance of Equity
Securities or Indebtedness. Each mandatory prepayment required to be paid by any
Borrower by this Section 3.01(b)(iv) shall be allocated and applied
first, to the repayment of the Revolving Loans owed by such Borrower;
second, to any remaining non-contingent Obligations of such Borrower; and
then, to the extent any such Obligations are contingent, deposited in the
applicable Cash Collateral Account as Cash Collateral in respect of such contingent
Obligations, in each case in accordance with the applicable provisions of Section
3.02. Each mandatory prepayment required to be paid by any Borrower by this
Section 3.01(b)(iv) shall be accompanied by a corresponding permanent
reduction of the Commitments under the Credit Facility applicable to such Borrower in
an amount equal to fifty percent (50.0%) of such Net Cash Proceeds of Issuance of
Equity Securities or Indebtedness (all such reductions shall reduce the aggregate
Commitments of each Lender (and where applicable, its Affiliate) proportionately in
accordance with its (or where applicable, their) aggregate Pro Rata Share of all
Credit Facilities.

     (v) Notwithstanding anything herein to the contrary, if, on any Business Day,
(x) aggregate Availability under both Credit Facilities is less than $30,000,000 or
(y) Availability in respect of the Domestic Facility is less than $22,500,000:

(i) all amounts on deposit in the Domestic Concentration Account shall be
applied on such Business Day to reduce (and/or Cash-Collateralize, as
applicable) the Obligations under the Domestic Facility in the order of
priority set forth in Section 3.02(b)(ii);

(ii) all amounts on deposit in the Multicurrency Concentration Account shall
be applied on such Business Day to reduce (and/or Cash-Collateralize, as
applicable) the Obligations under the Multicurrency Facility in the order of
priority set forth in 3.02(b)(ii); and

(iii) if there are no outstanding Obligations under the Domestic Facility
(or all amounts thereunder have been Cash-Collateralized), all amounts on
deposit in the Domestic Concentration Accounts shall be applied to reduce
(and/or Cash-Collateralize, as applicable) the Obligations under the
Multicurrency Facility in the order of priority set forth in
3.02(b)(ii); provided, that the Administrative Agent shall
have no obligation to apply any amounts on deposit in the Domestic
Concentration Accounts to reduce the Obligations under the Multicurrency
Facility and/or Cash Collateralize any Letters of Credit Issued under the
Multicurrency Facility pursuant to this clause (iii) more than once per
calendar week (it being understood that any amounts from time to time on
deposit in any Domestic Concentration Account shall be held by the
Administrative Agent as Cash Collateral for the Obligations).

        (vi) Nothing in this Section 3.01(b) shall be construed to constitute
the Lenders’ consent to any transaction which is not expressly permitted by
Article IX.

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          (c) [RESERVED].

          (d) Reallocations of Commitments. The Domestic Borrowers or the Multicurrency
Borrowers, upon five (5) Business Days’ written notice to the Administrative Agent, may request (a
“Commitment Reallocation Request”), no more than two (2) times in any Fiscal Year, that a
Lender that is both a Domestic Lender and a Multicurrency Lender (or that has an Affiliate which is
a Lender under the other Credit Facility) to reduce its Commitment under one Credit Facility by an
amount equal to not less than $1,000,000 (such amount, the “Commitment Reduction Amount”),
and that the Commitment, if any, of such Lender under the other Credit Facility (or its Affiliate
which is a Lender under such Credit Facility), as selected by such Borrowers in the Commitment
Reallocation Request, be correspondingly increased by the Commitment Reduction Amount; provided
that a Commitment Reallocation Request may not be made if, after giving effect to the proposed
reallocation:

     (i) the aggregate amount of the Multicurrency Commitments would (x) exceed
$100,000,000 or (y) be less than $50,000,000, or

     (ii) the aggregate amount of the Domestic Commitments would exceed the maximum
amount of the aggregate Domestic Commitments in effect at such time (determined in
accordance with the definitions of “Commitments” and “Domestic Commitments”.

     After receiving a Commitment Reallocation Request, the Administrative Agent shall notify each
affected Lender of such Commitment Reallocation Request, and such Commitments shall be adjusted as
contemplated thereby on the date set forth in such Commitment Reallocation Request.
Notwithstanding anything to the contrary in the foregoing, (i) a Commitment Reallocation Request
may not be made with respect to any Lender under any Credit Facility that is not a Lender under
both Credit Facilities or does not have an Affiliate that is a Lender under the other Credit
Facility and (ii) no Lender shall have an obligation to reallocate its commitments if such
reallocation would cause such Lender’s “Multicurrency Commitment” or “Domestic Commitment” to
exceed such Lender’s “Maximum Multicurrency Commitment” or “Maximum Domestic Commitment” set forth
on Schedule 1.01.1 hereof or on any applicable Assignment and Acceptance. For the
avoidance of doubt, any Lender that has a “Maximum Multicurrency Commitment” or a “Maximum Domestic
Commitment” equal to zero shall have no obligation to participate in any commitment reallocation.

          (e) Additional Conditions to Commitment Reallocations and Reductions. In connection
with any reallocation of Commitments under Section 3.01(d) or reduction of Commitments
under Section 3.01(a) or Section 3.01(b), the aggregate Pro Rata Share under all
Credit Facilities of a Lender shall not change. In the case of a reallocation of Commitments under
Section 3.01(d), neither the aggregate Commitment of a Lender and its Affiliated Lenders
nor the amount of the aggregate Commitments of all Lenders, in each case, before and after such
reallocation shall change.

          3.02. Payments.

          (a) Manner and Time of Payment; Payment of Foreign Exchange Costs.

     (i) All payments of principal of and interest on the Loans and Reimbursement
Obligations and other Obligations (including, without limitation, fees and expenses)
which are payable to the Administrative Agent, the Lenders or such Issuing Bank shall
be made without condition or reservation of right, in immediately available funds,
delivered to the Administrative Agent (or, in the case of Reimbursement Obligations,
to the pertinent Issuing Bank) not later than 1:00 p.m. (New York time) to the
Domestic Concentration

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Account (or, in the case of Reimbursement Obligations, such account of the pertinent Issuing Bank as it may designate), with respect to payments
under the Domestic Facility, and 2:00 p.m. (London time) to the Multicurrency Concentration Account for the
relevant Specified Foreign Currency (or, in the case of Reimbursement Obligations,
such account of the pertinent Issuing Bank as it may designate), with respect to
payments under the Multicurrency Facility, on the date due. Thereafter, payments in
respect of any Swing Loans received by the Administrative Agent shall be distributed
to the Swing Loan Bank, payments in respect of any Overdraft Loans received by the
Administrative Agent shall be distributed to the Overdraft Line Bank, and payments in
respect of any Revolving Loan received by the Administrative Agent shall be
distributed to each Lender under the applicable Credit Facility in accordance with its
Pro Rata Share of such Credit Facility (without giving effect to any adjustment of
such Pro Rata Share in connection with a substantially simultaneous reallocation or
reduction of the Commitment under the Domestic Facility, in the case of payments to
the Domestic Lenders) in accordance with the provisions of Section 3.02(b) on
the date received, if received prior to 1:00 p.m. (New York time) with respect to
Domestic Obligations and prior to 2:00 p.m. (London time) with respect to
Multicurrency Obligations, and (except in the case of repayment of Swing Loans and
Overdraft Loans) on the next succeeding Business Day if received thereafter, by the
Administrative Agent.

          (b) Apportionment of Payments.

     (i) Subject to the provisions of Section 3.02(b)(ii) and (iv),
except as otherwise provided herein (A) all payments of principal and interest in
respect of outstanding Revolving Loans under any Credit Facility, and all payments in
respect of Reimbursement Obligations under any Credit Facility, shall be allocated
among such of the Lenders and Issuing Banks as are entitled thereto, in proportion to
their respective Pro Rata Shares of such Credit Facility and (B) all payments of fees
and all other payments in respect of any other Obligation shall be allocated among
such of the Lenders and Issuing Banks as are entitled thereto, in proportion to their
respective Pro Rata Shares of the applicable Credit Facility (if such Obligation
relates to such Credit Facility) or otherwise in proportion to their respective Pro
Rata Shares of all the Credit Facilities.

     (ii) All such payments and any other proceeds of Collateral or other amounts
received by the Administrative Agent from or for the benefit of a Borrower shall be
applied first, to pay principal of and interest on any portion of the Loans
made to such Borrower which the Administrative Agent may have advanced pursuant to the
express provisions of this Agreement on behalf of any Lender other than the Lender
then acting as Administrative Agent, for which the Administrative Agent has not then
been reimbursed by such Lender or such Borrower, second, to pay principal of
and interest on any Protective Advance made to such Borrower for which the
Administrative Agent has not then been paid by such Borrower or reimbursed by the
Lenders, third, to pay Loans of such Borrower as set forth below and to pay
all other Obligations of such Borrower then due and payable and fourth, to
such Borrower’s Concentration Account, or if demand under Section 11.03(b) has
been made, such Borrower’s Cash Collateral Account, in each case, for the currency in
which such payment is denominated, to be held as Cash Collateral in accordance with
this Agreement, or if the Administrative Agent consents in its sole discretion, to a
Disbursement Account designated by the applicable Borrower. Except as set forth in
Sections 3.01(a) and (b) and unless otherwise designated by the Domestic
Borrowers, all principal payments made by any Domestic Borrower in respect of

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outstanding Swing Loans or Revolving Loans of such Domestic Borrower, as the case may
be, shall be applied first, to the outstanding Swing Loans and second,
to the outstanding Revolving Loans of such Domestic Borrower, in each case,
first, to repay outstanding Floating Rate Loans, and then to repay outstanding Fixed Rate Loans with
Interest Periods then expiring. Except as set forth in Sections 3.01(a) and
(b) and unless otherwise designated by the Multicurrency Borrowers, all principal
payments made by any Multicurrency Borrower in respect of outstanding Overdraft Loans
or Revolving Loans of such Multicurrency Borrower, as the case may be, shall be
applied first, to the Revolving Loans with Interest Periods then expiring and
second to the outstanding Overdraft Loans, in each case, denominated in the
Specified Foreign Currency of such payment.

     (iii) After the occurrence and during the continuance of an Event of Default,
the Administrative Agent may, and shall upon the acceleration of the Obligations
pursuant to Section 11.02(a), apply all payments in respect of any Domestic
Obligations to the payment of the Domestic Facility, all payments in respect of any
Multicurrency Obligations to the payment of the Multicurrency Facility, all proceeds
of Foreign Collateral to the payment of Multicurrency Obligations, and all proceeds of
Domestic Collateral to the payment of Domestic Obligations (and, after all Domestic
Obligations are paid in full or Cash Collateralized, to the payment of the
Multicurrency Obligations), in the following order (it being understood that the
Administrative Agent shall have the right to convert, at a rate of exchange equal to
the Spot Rate as of such conversion date and at the Borrowers’ expense, any of such
payments or proceeds of Collateral into the currency in which such Obligations are
denominated):

(A) first, to pay interest on, and the principal of, any portion of the
Revolving Loans which the Administrative Agent may have advanced on behalf of any
Lender for which the Administrative Agent has not then been reimbursed by such
Lender or a Borrower;

(B) second, to pay interest on, and then principal of, first any
outstanding Protective Advance;

(C) third, to pay interest on, and the principal of, any Swing Loan or
Overdraft Loan, to pay to the Lenders any foreign exchange costs arising in
connection with a Lender’s funding of a Multicurrency Loan that is not reimbursed
by the applicable Borrowers as required under Section 3.02(a);

(D) fourth, to pay Obligations in respect of (1) any expense reimbursements
or indemnities then due to the Administrative Agent and (2) fees and expenses in
respect of cash management services provided to Borrowers and their Subsidiaries by
the Administrative Agent or any Affiliates of the Administrative Agent, including,
without limitation, those described in Section 3.06(d);

(E) fifth, to pay Obligations in respect of any fees then due to the
Administrative Agent, the Lenders or the Issuing Banks;

(F) sixth, to pay interest due in respect of the Revolving Loans,
Reimbursement Obligations and in respect of the Obligations arising under the
Foreign Working Capital Guaranty;

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(G) seventh, to pay or prepay (or, to the extent such obligations are
contingent, provide Cash Collateral (pursuant to Section 11.03(b), if
applicable) in respect of) all outstanding Letter of Credit Obligations;

(H) eighth, to pay Obligations in respect of any expense reimbursements or
indemnities then due to the Lenders and the Issuing Banks;

(I) ninth, to pay or prepay principal outstanding on Revolving Loans and
all outstanding Obligations (other than in respect of interest) arising under the
Foreign Working Capital Guaranty;

(J) tenth, to the ratable payment of (or, to the extent such obligations
are contingent, provide Cash Collateral in respect of) (1) Interest Rate Exposure or
other obligations under Interest Rate Contracts, (2) Commodity Agreement Exposure or
other obligations under Commodity Agreement Contracts and (3) Currency Agreement
Exposure or other obligations under Currency Agreement, in each case, solely to the
extent such amounts constitute Obligations;

(K) eleventh, to the ratable payment of all other Obligations; and

(L) twelfth, as the applicable Borrower so designates;

provided, however, if sufficient funds are not available to fund all payments to be made in
respect of any of the Obligations described in any of the foregoing clauses (A)
through (K), the available funds being applied with respect to any such Obligations
referred to in any one of such clauses (unless otherwise specified in such clause) shall be
allocated to the payment of such Obligations ratably, based on the proportion of the
Administrative Agent’s and each Lender’s interest in the aggregate outstanding Obligations
described in such clauses. The order of priority set forth in this Section
3.02(b)(iii) and the related provisions hereof are set forth solely to determine the
rights and priorities of the Administrative Agent, the Lenders, the Issuing Banks and other
Holders as among themselves. The order of priority set forth in clauses (A) through
(K) of this Section 3.02(b)(iii) may at any time and from time to time be
changed by the agreement of all Lenders without necessity of notice to or consent of or
approval by any Borrower, any Holder which is not a Lender or an Issuing Bank, or any other
Person; provided, however, the order of priority set forth in clauses (A) through
(D) of this Section 3.02(b)(iii) may not be changed without the prior
written consent of the Administrative Agent.

     (iv) The Administrative Agent, in its sole discretion subject only to the terms
of this Section 3.02(b)(iv), may pay from the proceeds of Revolving Loans made
under the applicable Credit Facility (which Loans may not have been requested by a
Borrower pursuant to a Notice of Borrowing) made to a Borrower hereunder, whether made
following a request by such Borrower pursuant to Section 2.01 or 2.02
or a deemed request as provided in this Section 3.02(b)(iv), all amounts then
due and payable by any Borrower hereunder, including, without limitation, amounts
payable with respect to payments of principal, interest, Reimbursement Obligations and
fees and all reimbursements for expenses pursuant to Section 14.02. Each
Borrower hereby irrevocably authorizes the Swing Loan Bank (with respect to the
Domestic Borrowers only), the Overdraft Line Bank (with respect to the Multicurrency
Borrowers only) and the Lenders to make Swing Loans, Overdraft Loans or Revolving
Loans in the appropriate Optional Currency, which Loans other than the Overdraft Loans
shall be Floating Rate Loans upon notice from the Administrative Agent as described in
the following sentence for the purpose of paying

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principal, interest, Reimbursement Obligations and fees due from any Borrower, reimbursing expenses pursuant to
Section 14.02 or any other Loan Document and paying any and all other amounts
due and payable by any Borrower hereunder or under the Notes, and agrees that all such
Loans so made shall be deemed to have been requested by it pursuant to Section 2.01 and 2.02 as of the date of the
aforementioned notice. The Administrative Agent shall request Swing Loans, Overdraft
Loans or Revolving Loans on behalf of a Borrower as described in the preceding
sentence by notifying the Lenders under the applicable Credit Facility by telex,
telecopy, telegram or other similar form of transmission (which notice the
Administrative Agent shall thereafter promptly transmit to such Borrower), of the
amount and Funding Date of the proposed Borrowing and that such Borrowing is being
requested on such Borrower’s behalf pursuant to this Section 3.02(b)(iv). On
the proposed Funding Date, the Swing Loan Bank, Overdraft Line Bank or Lenders under
the relevant Credit Facility, as the case may be, shall make the requested Loans in
accordance with the procedures and subject to the conditions specified in Section
2.01 or 2.02 (irrespective of the satisfaction of the conditions described
in Section 5.02 or the requirement to deliver a Notice of Borrowing in
Section 2.01(d), which conditions and requirements, for the purposes of the
payment of Swing Loans, Overdraft Loans and Revolving Loans at the request of the
Administrative Agent as described in the preceding sentence, the Lenders irrevocably
waive). Notwithstanding the foregoing, Overdraft Loans shall also be made at the
direct request of the Multicurrency Borrowers by notice to the Overdraft Line Bank in
accordance with Section 2.01(c)(i).

     (v) Notwithstanding anything herein to the contrary, the Administrative Agent,
the Lenders and the Issuing Banks further agree and acknowledge that (x) in no event
shall proceeds of any Foreign Collateral, more than sixty-five percent (65.0%) of the
Capital Stock of any Foreign Subsidiary or amounts received from any Foreign Credit
Party as described herein be applied on any of the Domestic Obligations, and (y) no
application of Domestic Collateral shall be made to Obligations under the
Multicurrency Facility until such time as the aggregate outstanding Obligations under
the Domestic Facility are reduced to zero.

          (c) Payments on Non-Business Days. Whenever any payment to be made by a Borrower
hereunder or under the Notes is stated to be due on a day which is not a Business Day, the payment
shall instead be due on the next succeeding Business Day (or, as set forth in Section
4.02(a)(iv), the next preceding Business Day), and any such extension of time shall be included
in the computation of the payment of interest and fees hereunder.

          3.03. Pro Rata Shares Adjustment. In the event the Pro Rata Shares of the Lenders
under a Credit Facility are altered after giving effect to any Commitment Reallocation Request,
after giving effect to any partial reduction of the Commitments made pursuant to Section
3.01(a), after giving effect to any mandatory reduction of the Commitments made pursuant to
Section 3.02(b), the Lenders whose Pro Rata Shares have increased as a result shall effect
such purchases of Loans from the other Domestic Lenders or the Multicurrency Lenders, as
applicable, on the next Swing Loan Settlement Date (with respect to the Domestic Lenders) and on
the next Overdraft Loan Settlement Date (with respect to the Multicurrency Lenders) such that after
giving effect to such purchases each Lender is owed Loans in an amount equal to its adjusted Pro
Rata Share of the Credit Facility Outstandings outstanding in respect of the applicable Credit
Facility.

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          3.04. Taxes.

          (a) Payment of Taxes. Any and all payments by the Borrowers hereunder or under any
Note or other document evidencing any Obligations shall be made free and clear of and without
reduction for any and all taxes, levies, imposts, deductions, charges, withholdings, and all stamp
or documentary taxes, excise taxes, ad valorem taxes and other taxes imposed on the value of the
Property, charges or levies which arise from the execution, delivery or registration, or from
payment or performance under, or otherwise with respect to, any of the Loan Documents or the Commitments
and all other liabilities with respect thereto excluding, in the case of each Lender, each Issuing
Bank and the Administrative Agent, taxes imposed on its net income and franchise taxes imposed on
it by (i) the United States, except certain withholding taxes contemplated pursuant to Section
3.04(d)(ii)(C), (ii) the Governmental Authority of any jurisdiction (or any political
subdivision thereof) in which any Applicable Lending Office of such Lender is located, (iii) the
Governmental Authority of the jurisdiction in which such Lender is organized, managed and
controlled or any political subdivision thereof or (iv) any political subdivision of the United
States, unless such taxes are imposed solely as a result of such Lender’s performance of any of the
Loan Documents in such political subdivision and such Lender would not otherwise be subject to tax
by such political subdivision (all such non-excluded taxes, levies, imposts, deductions, charges,
withholdings and liabilities (other than UK Taxes which are governed exclusively by Section
3.08) being hereinafter referred to as “Taxes”); provided, however, that the
withholding taxes contemplated pursuant to Section 3.04(d)(ii)(C) shall not be excluded
from Taxes by reason of the application of clause (ii) or clause (iii) of this
sentence to any Applicable Lending Office of a Lender or to any Lender, respectively. If a
Borrower shall be required by law to withhold or deduct any Taxes from or in respect of any sum
payable hereunder or under any Note or other document evidencing any Obligations to any Lender, any
Issuing Bank or the Administrative Agent, (x) the sum payable to such Lender, such Issuing Bank or
the Administrative Agent shall be increased as may be necessary so that after making all required
withholding or deductions (including withholding or deductions applicable to additional sums
payable under this Section 3.04) such Lender, such Issuing Bank or the Administrative Agent
(as the case may be) receives an amount equal to the sum it would have received had no such
withholding or deductions been made, (y) such Borrower shall make such withholding or deductions,
and (z) such Borrower shall pay the full amount withheld or deducted to the relevant taxation
authority or other authority in accordance with applicable law.

          (b) Indemnification. (i) The Domestic Borrowers jointly and severally agree to
indemnify each Domestic Lender, each Issuing Bank and the Administrative Agent, and (ii) the
Multicurrency Borrowers jointly and severally agree to indemnify the Multicurrency Lenders, each
Issuing Bank and the Administrative Agent, against, and reimburse each on demand for, the full
amount of all Taxes (including, without limitation, any Taxes imposed by any Governmental Authority
on amounts payable under this Section 3.04 and any additional income or franchise taxes
resulting therefrom) incurred or paid by such Lender, such Issuing Bank or the Administrative Agent
(as the case may be but only to the extent relating to the applicable Credit Facility) or any of
their respective Affiliates and any liability (including penalties, interest, and out-of-pocket
expenses paid to third parties) arising therefrom or with respect thereto (other than any liability
that results from the gross negligence or willful misconduct of the Lenders and the Administrative
Agent), and whether or not such Taxes were correctly or legally asserted by the relevant taxing
authority or other Governmental Authority. A certificate as to any additional amount payable to
any Person under this Section 3.04 submitted by it to any Borrower shall, absent manifest
error, be final, conclusive and binding upon all parties hereto. Each Lender, the Administrative
Agent and each Issuing Bank agrees (i) within a reasonable time after receiving a written request
from any Borrower, to provide such Borrower and the Administrative Agent with such certificates as
are reasonably required, and (ii) take such other actions as are reasonably necessary to claim such
exemptions as such Lender, the Administrative Agent or such Issuing Bank or Affiliate may be
entitled to

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claim in respect of all or a portion of any Taxes which are otherwise required to be
paid or deducted or withheld pursuant to this Section 3.04 in respect of any payments under
this Agreement or under the Notes. If any Lender or the Administrative Agent receives a refund in
respect of any Taxes for which such Lender or the Administrative Agent has received payment from a
Borrower hereunder, it shall promptly apply such refund (including any interest received by such
Lender or the Administrative Agent from the taxing authority with respect to the refund with
respect to such Taxes) to the Obligations of such Borrower, net of all out-of-pocket expenses of
such Lender or the Administrative Agent; provided that such Borrower, upon the request of such
Lender or the Administrative Agent, agrees to reimburse such refund (plus penalties, interest or other charges) to such Lender or the Administrative Agent
in the event such Lender or the Administrative Agent is required to repay such refund. Each
Multicurrency Borrower jointly and severally agrees to pay and indemnify each Multicurrency Lender,
each Issuing Bank and the Administrative Agent against any cost, loss or liability that such Person
incurs in relation to all stamp duty, registration and other similar taxes payable in respect of
any Loan Document. Each Domestic Borrower jointly and severally agrees to pay and indemnify each
Domestic Lender, each Issuing Bank and the Administrative Agent against any cost, loss or liability
that such Person incurs in relation to all stamp duty, registration and other similar taxes payable
in respect of any Loan Document. Each Domestic Borrower jointly and severally agrees, and each
Multicurrency Borrower jointly and severally agrees, to pay promptly any stamp duty (and any
interest or penalty in connection therewith) which is payable on any Receivables Sale Agreement (or
any document executed in connection therewith) if it becomes reasonably necessary that the UK
Borrower prove its entitlement to Receivables which are the subject of the relevant Receivables
Sale Agreement and the payment of such stamp duty is reasonably necessary in order to do so.

          (c) Receipts. Within sixty (60) days after the date of any payment of Taxes pursuant
to this Section 3.04 by any Borrower or any of the Borrowers’ Subsidiaries, the Borrowers
will furnish to the Administrative Agent at its request, at its notice address in effect under
Section 14.08, a copy of a receipt, if any, or other documentation reasonably satisfactory
to the Administrative Agent, evidencing payment thereof. The Borrowers shall furnish to the
Administrative Agent, within sixty (60) days after the request of the Administrative Agent from
time to time, a certificate of a Financial Officer stating that all Taxes of which they have
Knowledge are due have been paid.

          (d) Non-Domestic Bank Certifications.

     (i) Each Lender or each Issuing Bank that is not created or organized under the
laws of the United States or a political subdivision thereof shall deliver to the
Borrowers and the Administrative Agent on the date such Lender becomes a Lender or
such Issuing Bank becomes an Issuing Bank, (A) a true and accurate certificate
executed in duplicate by a duly authorized officer of such Lender or such Issuing Bank
to the effect that such Lender or such Issuing Bank is eligible to receive all
payments hereunder and under the Notes without deduction or withholding of United
States federal income tax and (B) a properly completed and executed IRS Form W-8 (or
any successor forms, including IRS Form W-8 BEN, W-8IMY or W-8ECI) claiming a complete
exemption from withholding of United States federal income tax on all payments
hereunder and under the Notes. If a Lender or an Issuing Bank is unable to deliver
the certificate and forms described in, and on the dates required by, the preceding
sentence, then the applicable Borrower shall withhold the applicable tax and shall
have no indemnification obligation with respect to such withholding tax.

     (ii) Each Lender and each Issuing Bank further agrees to promptly deliver to the
Borrowers and the Administrative Agent from time to time, subsequent to delivery of
the certification referred to in Section 3.04(d)(i), a true and accurate
certificate executed in

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duplicate by a duly authorized officer of such Lender or such Issuing Bank before or promptly upon the occurrence of any event requiring a change in
the most recent certificate previously delivered by it to the Borrowers and the
Administrative Agent pursuant to this Section 3.04(d) (including, but not
limited to, a change in such Lender’s or such Issuing Bank’s Applicable Lending
Office). Each certificate required to be delivered pursuant to this Section
3.04(d)(ii) shall certify as to one of the following:

(A) that such Lender or such Issuing Bank can continue to receive payments
hereunder and under the Notes without deduction or withholding of United States
federal income tax;

(B) that such Lender or such Issuing Bank cannot continue to receive payments
hereunder and under the Notes without deduction or withholding of United States
federal income tax as specified therein but does not require additional payments
pursuant to Section 3.04(a) because it is entitled to recover the full
amount of any such deduction or withholding from a source other than the Borrowers;

(C) that such Lender or Issuing Bank is no longer capable of receiving payments
hereunder and under the Notes without deduction or withholding of United States
federal income tax as specified therein solely by reason of a change in law
(including the Internal Revenue Code or applicable tax treaty) after the later of
the Closing Date or the date on which such Lender became a Lender or such Issuing
Bank became an Issuing Bank and that it is not capable of recovering the full amount
of the same from a source other than the Borrowers; or

(D) that such Lender or such Issuing Bank is no longer capable of receiving
payments hereunder without deduction or withholding of United States federal income
tax as specified therein other than by reason of a change in law (including the
Internal Revenue Code or applicable tax treaty) after the later of the Closing Date
or the date on which such Lender became a Lender or such Issuing Bank became an
Issuing Bank.

Each Lender and each Issuing Bank agrees to deliver to the Borrowers under the applicable
Credit Facility and the Administrative Agent further duly completed copies of the
above-mentioned IRS forms on or before the earlier of (x) the date that any such form
expires or becomes obsolete or otherwise is required to be resubmitted as a condition to
obtaining an exemption from withholding from United States federal income tax and (y)
fifteen (15) days after the occurrence of any event requiring a change in the most recent
form previously delivered by such Lender or such Issuing Bank to the Borrowers and the
Administrative Agent, unless any change in treaty, law, regulation or official
interpretation thereof which would render such form inapplicable or which would prevent the
Lender from duly completing and delivering such form has occurred prior to the date on which
any such delivery would otherwise be required and such Lender or the Issuing Bank promptly
advises the Borrowers that it is not capable of receiving payments hereunder or under the
Notes without any deduction or withholding of United States federal income tax.

          (e) This Section 3.04 shall not apply to UK Tax, which shall be governed exclusively
by Section 3.08.

          3.05. Increased Capital. If after the Closing Date any Lender or Issuing Bank
determines that (i) the adoption or implementation of or any change in or in the interpretation or
administration of any law or regulation or any guideline or request from any central bank or other

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Governmental Authority or quasi-governmental authority exercising jurisdiction, power or control
over any Lender, Issuing Bank or banks or financial institutions generally (whether or not having
the force of law), compliance with which affects or would affect the amount of capital required or
expected to be maintained by such Lender or Issuing Bank or any corporation controlling such Lender
or Issuing Bank and (ii) the amount of such capital is increased by or based upon (A) the making or
maintenance by any Lender of its Loans, any Lender’s participation in or obligation to participate
in the Loans, Letters of Credit or other advances made hereunder or the existence of any Lender’s
obligation to make Loans or (B) the issuance or maintenance by any Issuing Bank of, or the existence of such Issuing
Bank’s obligation to Issue, Letters of Credit, then, in any such case, upon written demand by (x)
such Domestic Lender or Issuing Bank (with a copy of such demand to the Administrative Agent), the
Domestic Borrowers, or (y) such Multicurrency Lender or such Issuing Bank (with a copy of such
demand to the Administrative Agent), the Multicurrency Borrowers jointly and severally agree
immediately to pay to the Administrative Agent for the account of such Lender or such Issuing Bank,
from time to time as specified by such Lender or such Issuing Bank, additional amounts sufficient
to compensate such Lender or such Issuing Bank or such corporation therefor; provided that the
Borrowers shall not be required to compensate any Lender or any Issuing Bank pursuant to this
Section 3.05 for any increased capital costs incurred more than 180 days prior to the date
such Issuing Bank or Lender notifies the applicable Borrower of the event giving rise to such
increased capital cost and of such Lender’s or Issuing Bank’s intention to claim compensation
therefor; provided further, however, that such 180-day limitation shall not apply to any cost that
is applicable retroactively so long as the applicable Lender notifies the Borrowers of such cost
within 180 days of a responsible officer of such Lender receiving actual knowledge thereof. Such
demand shall be accompanied by a statement as to the amount of such compensation and include a
summary of the basis for such demand with detailed calculations. Such statement shall be
conclusive and binding for all purposes, in the absence of manifest error.

          3.06. Cash Management and Concentration Accounts.

          (a) Establishment of Accounts. On or before the Closing Date, the Credit Parties
shall have established the Bank Accounts identified on Schedule 6.01-Z. After the Closing
Date, the Borrowers agree to establish, and cause the Credit Parties or such other Subsidiaries who
are agreed to by the Administrative Agent and the Borrowers, to establish, such other Bank Accounts
as the Administrative Agent may reasonably request, and Schedule 6.01-Z shall be updated
accordingly. After any such Bank Account is established, the Borrowers or such Subsidiaries may
change the Bank Accounts or add to the Bank Accounts listed on Schedule 6.01-Z as their
needs may require and agree to notify the Administrative Agent in writing of any such changes (such
schedule being deemed to be amended by any such notice); provided, however, no
Credit Party shall:

     (i) change any Bank Account other than a Disbursement Account (except as
contemplated above) or establish any new Bank Account other than a Disbursement
Account with any bank which is not acceptable to the Administrative Agent and which,
in the case of a Collection Account to be maintained at such bank, has not executed a
Collection Account Agreement with respect to such Collection Account, or

     (ii) establish any other Bank Account other than a Disbursement Account, or
modify any arrangement with respect to any other existing Bank Account other than a
Disbursement Account, without the prior consent of the Administrative Agent, which
consent may be granted or withheld in the reasonable discretion of the Administrative
Agent.

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          (b) Collections. Each Credit Party, (i) has directed, and in the future will direct,
all of its account debtors to remit all monies, checks, notes, drafts or funds received by it,
including, without limitation, all payments in respect of Receivables, all other proceeds of
Collateral, and all Net Cash Proceeds (the “Collections”) directly to a Lockbox or
Collection Account (or in accordance with other arrangements approved by the Administrative Agent),
or (ii) to the extent that the account debtors of such Credit Party, notwithstanding the
instructions described in clause (i) above, remit such Collections directly to such Credit
Party, each Borrower agrees, and agrees to cause each Credit Party to, deposit all such Collections
into a Collection Account promptly upon such Person’s receipt thereof. The Borrowers
agree to cause all Collections now or hereafter received directly or indirectly by any
Borrower or any such Credit Party or any agent thereof or in the possession of any Borrower or any
Credit Party or any agent thereof to be held in trust for, or, in the case of Collections received
by any Foreign Credit Party, on trust for (or as otherwise provided in the relevant Foreign
Security Agreements relating thereto) the Administrative Agent and, promptly upon receipt thereof,
to be deposited into a Collection Account. The contents of each Lockbox shall automatically be
deposited into a Collection Account or be emptied and deposited into a Collection Account by a
representative of the Collection Account Bank at which the applicable Collection Account has been
established. Only the Administrative Agent and the applicable Collection Account Bank, if any,
shall have power of withdrawal from each Lockbox and the related Collection Account.

          (c) Concentration Accounts; Cash Collateral Accounts. All immediately available
funds, or as otherwise provided in any Collection Account Agreement with respect to low volume
Collection Accounts, in any Collection Account (w) of any Domestic Borrower shall be automatically
transferred (either directly or indirectly) into the Domestic Concentration Account, (x) of the
Multicurrency Borrowers shall be transferred (either directly or indirectly) automatically or as
otherwise provided pursuant to the applicable Collection Account Agreement and/or Multicurrency
Concentration Accounts Agreements into (A) with respect to funds denominated in Sterling, the
applicable Sterling Concentration Account, (B) with respect to funds denominated in Euros, the
applicable Euro Concentration Account, and (C) with respect to funds denominated in Dollars, the
applicable Dollars Concentration Account. Funds shall be directed in accordance with the
instructions of the Administrative Agent to the applicable Cash Collateral Account upon a demand
made pursuant to Section 11.03(b). The Domestic Concentration Account and each Domestic
Cash Collateral Account shall be in the name of and owned by the Administrative Agent. The
Multicurrency Concentration Account and each Multicurrency Cash Collateral Account shall be under
the sole dominion and control and subject to the first priority security interest of the
Administrative Agent. The following procedures shall apply to the Domestic Concentration Account,
the Multicurrency Concentration Accounts and the Cash Collateral Accounts:

     (i) Generally. Each Bank Account shall be denominated in a single
currency. The Administrative Agent alone shall have power of withdrawal from the
Concentration Accounts and the Cash Collateral Accounts. Subject to Sections
3.01(b)(ii), 3.01(b)(iii), 3.02(b)(ii), 3.02(b)(iii) and
11.03, (A) the Domestic Borrowers hereby authorize the Administrative Agent to
apply all immediately available funds on deposit in the Domestic Concentration Account
and, if necessary, Domestic Cash Collateral Account to the Domestic Obligations, and
(B) the Multicurrency Borrowers hereby authorize the Administrative Agent to apply all
immediately available funds on deposit in each Multicurrency Concentration Account
and, if necessary, each Multicurrency Cash Collateral Account, to the Multicurrency
Obligations denominated in the Specified Foreign Currency maintained in such
Multicurrency Concentration Account and Multicurrency Cash Collateral Account. Solely
with respect to the Domestic Concentration Account, to the extent any such funds
remain after such application or disbursement to a Domestic Borrower pursuant to
Section 3.02(b) and no Default or Event of Default has occurred and

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is continuing, each Domestic Borrower hereby authorizes the Administrative Agent to
invest such funds in accordance with Section 3.06(c)(ii). Solely with respect
to the Multicurrency Concentration Accounts, to the extent any such funds remain after
such application or disbursement to a Multicurrency Borrower pursuant to Section
3.02(b) and no Default or Event of Default has occurred and is continuing, any
Multicurrency Borrower may, upon notice to the Administrative Agent not later than
10:30 a.m. (London time), convert any funds on deposit in a Multicurrency
Concentration Account into another Optional Currency and transfer such funds (less any
reasonable foreign exchange costs) to another Multicurrency Concentration Account in which such other Optional Currency
is maintained.

     (ii) Investments. Subject to the right of the Administrative Agent to
apply and/or withdraw funds from the Domestic Concentration Account and the Domestic
Cash Collateral Account as provided in this Agreement, the Administrative Agent shall,
so long as no Default or Event of Default shall have occurred and be continuing, from
time to time invest funds (or procure the investment of such funds) on deposit in such
accounts and accrued interest thereon, procure the reinvestment of proceeds of any
such investments which may mature or be sold, and invest interest or other income
received from any such investments, in each case in an overnight investment selected
by the Administrative Agent. None of the Administrative Agent, any Lender or any
Issuing Bank shall be liable to any Borrower for, or with respect to, any decline in
value of amounts on deposit in the Domestic Concentration Account or Domestic Cash
Collateral Account which shall have been invested pursuant to this Section
3.06(c)(ii) pursuant to such overnight investments selected by the Administrative
Agent. All funds on deposit in the Multicurrency Concentration Accounts and
Multicurrency Cash Collateral Accounts shall bear interest in accordance with the
applicable account agreement.

     (iii) Additional Payments. If at any time the Administrative Agent
determines that any funds held in any Concentration Account or Cash Collateral Account
are subject to any interest, right, claim or Lien (other than Liens arising in the
ordinary course of business for amounts which are not yet due and payable) of any
Person other than the Administrative Agent or the applicable Borrower, the Domestic
Borrowers jointly and severally (with respect to funds deposited by the Domestic
Borrowers) and the Multicurrency Borrowers jointly and severally (with respect to
funds deposited by the Multicurrency Borrowers) agree that (i) forthwith upon demand
by the Administrative Agent, to pay to the Administrative Agent, as additional funds
to be deposited and held in the applicable Concentration Account or Cash Collateral
Account, as the case may be, an amount equal to the amount of funds subject to such
interest, right, claim or Lien or (ii) if no such payment is made, the Administrative
Agent shall immediately and without requirement of notice as set forth in the
definitions of Multicurrency Borrowing Base and Domestic Borrowing Base, as
applicable, impose an Eligibility Reserve in the amount of such funds (unless such
interest, right, claim or Lien has then been included in any Eligibility Reserve with
respect to such funds or has been factored into a decreased advance rate with respect
to Cash Collateral).

     (iv) Custody of Cash Collateral. The Administrative Agent shall
exercise reasonable care in the custody and preservation of any funds held in the
Concentration Accounts and the Cash Collateral Accounts and shall be deemed to have
exercised such care if such funds are accorded treatment substantially equivalent to
that which the Administrative Agent accords its own like property, it being understood
that the

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Administrative Agent shall not be required to preserve rights of the Borrowers in such accounts or any amounts on deposit therein or any Investments
subject thereto against third parties but may do so at its option. All expenses
incurred in connection therewith shall be for the joint and several account of the
Multicurrency Borrowers with respect to any funds deposited by the Multicurrency
Borrowers or the joint and several account of the Domestic Borrowers with respect to
any funds deposited by the Domestic Borrowers, and, in each case, shall constitute
Obligations hereunder.

Notwithstanding anything to the contrary contained in this Agreement, except as set forth in this
clause (c), none of the Borrowers or any Person or entity claiming on behalf of or through
a Borrower shall have any right to withdraw any of the funds held in the Domestic Concentration
Account or any Cash Collateral Account. Upon the Payment In Full of the Obligations and
termination of the Commitments, any funds remaining in the Domestic Concentration Account or the
Domestic Cash Collateral Account shall be returned by the Administrative Agent to the relevant
Borrower or paid by the Administrative Agent to whomever may be legally entitled thereto, and in
relation to funds in the Multicurrency Concentration Accounts and the Multicurrency Cash Collateral
Accounts, the Administrative Agent shall release the security over such accounts and terminate any
associated control rights it may have.

          (d) Fees and Expenses. With respect to fees, costs and expenses incurred (i) in
respect of the Domestic Facility, the Domestic Borrowers jointly and severally agree, and (ii) in
respect of the Multicurrency Facility, the Multicurrency Borrowers jointly and severally agree, in
each case, to pay to the Administrative Agent any and all reasonable fees, costs and expenses which
the Administrative Agent incurs in connection with opening and maintaining the Collection Accounts,
Concentration Accounts and Cash Collateral Accounts, lockbox or other similar payment collection
mechanisms for such Borrowers and depositing for collection any check or item of payment received
by and/or delivered to the Collection Account Banks or the Administrative Agent on account of the
Obligations. With respect to the Collection Account Banks (x) for the Domestic Borrowers, the
Domestic Borrowers jointly and severally agree, (y) for the Multicurrency Borrowers, the
Multicurrency Borrowers jointly and severally agree, in each case, to reimburse the Administrative
Agent for any amounts paid to any Collection Account Bank arising out of any required
indemnification by the Administrative Agent of such Collection Account Bank against damages
incurred by the Collection Account Bank in the operation of a Collection Account.

          3.07. Defaulting Lenders.

          (a) If a Lender becomes, and during the period it remains, a Defaulting Lender, the following
provisions shall apply with respect to any outstanding settlement and/or participation obligations
of such Defaulting Lender in respect of Letters of Credit, Swing Loans and Overdraft Loans, as
applicable:

     (i) the Letter of Credit, Swing Loan and Overdraft Loan settlement and/or
participation obligations, as applicable, of such Defaulting Lender will, subject to
the limitation in the first proviso below, automatically be reallocated (effective on
the day such Lender becomes a Defaulting Lender) among the Non-Defaulting Lenders
pro rata in accordance with their respective Commitments under each
Credit Facility; provided that (a) the sum of each Non-Defaulting Lender’s
total Loans and settlement and/or participation obligations in respect of Letters of
Credit, Swing Loans and Overdraft Loans, as applicable, under any Credit Facility may
not in any event exceed the Commitment of such Non-Defaulting Lender as in effect at
the time of such reallocation under any applicable Credit Facility and (b) neither
such reallocation nor any payment by a Non-

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Defaulting Lender pursuant thereto will constitute a waiver or release of any claim any Borrower, the Administrative Agent,
any Issuing Bank, the Swing Loan Bank, Overdraft Line Bank or any other Lender may
have against such Defaulting Lender or cause such Defaulting Lender to be a
Non-Defaulting Lender;

     (ii) to the extent that any portion (the “unreallocated portion”) of
the Defaulting Lender’s settlement and/or participation obligations in respect of
Letters of Credit, Swing Loans and Overdraft Loans cannot be so reallocated, whether by reason of the
first proviso in clause (1) above or otherwise, each applicable Borrower will, not
later than five (5) Business Days after demand by the Administrative Agent (at the
direction of each Issuing Bank, the Swing Loan Bank and/or the Overdraft Line Bank,
as the case may be), (a) Cash Collateralize the obligations of such Borrower to the
Issuing Banks, the Swing Loan Bank and/or the Overdraft Loan Bank, as applicable, in
respect of the all outstanding Letters of Credit, Swing Loans and Overdraft Loans,
as the case may be, in an amount at least equal to the aggregate amount of the
unreallocated portion of such settlement and/or participation obligations in respect
of Letters of Credit, Swing Loans and Overdraft Loans, or (b) in the case of such
Swing Loans or Overdraft Loans, prepay (subject to clause (iii) below) and/or Cash
Collateralize in full the unreallocated portion thereof, or (c) make other
arrangements satisfactory to the Administrative Agent, and to the Issuing Bank, the
Swing Loan Bank and the Overdraft Loan Bank, as the case may be, in their sole
discretion to protect them against the risk of non-payment by such Defaulting
Lender; and

     (iii) any amount paid by any Borrower for the account of a Defaulting Lender
under this Agreement (whether on account of principal, interest, fees, indemnity
payments or other amounts) will not be paid or distributed to such Defaulting
Lender, but will instead be retained by the Administrative Agent in a segregated
non-interest bearing account until (subject to Section 3.07(b)) the
termination of the Commitments and payment in full of all Obligations and will be
applied by the Administrative Agent, to the fullest extent permitted by law, to the
making of payments from time to time in the following order of priority:
first to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent under this Agreement, second to the payment of any
amounts owing by such Defaulting Lender to the Issuing Banks, the Swing Loan Bank
and the Overdraft Loan Bank (pro rata as to the respective amounts
owing to each of them) under this Agreement, third to the payment of
post-default interest and then current interest due and payable to the Lenders
hereunder other than Defaulting Lenders, ratably among them in accordance with the
amounts of such interest then due and payable to them, fourth to the payment
of fees then due and payable to the Non-Defaulting Lenders hereunder, ratably among
them in accordance with the amounts of such fees then due and payable to them,
fifth to pay principal and unreimbursed Reimbursement Obligations then due
and payable to the Non-Defaulting Lenders hereunder ratably in accordance with the
amounts thereof then due and payable to them, sixth to the ratable payment
of other amounts then due and payable to the Non-Defaulting Lenders, and
seventh after the termination of the Commitments and payment in full of all
obligations of the Borrowers hereunder, to pay amounts owing under this Agreement to
such Defaulting Lender or as a court of competent jurisdiction may otherwise direct.

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          (b) If the Borrower, the Administrative Agent, the Issuing Bank and the Swing Loan Bank
agree in writing in their discretion that a Lender that is a Defaulting Lender or a Potential
Defaulting Lender should no longer be deemed to be a Defaulting Lender or Potential Defaulting
Lender, as the case may be, the Administrative Agent will so notify the parties hereto, whereupon
as of the effective date specified in such notice and subject to any conditions set forth therein
(which may include arrangements with respect to any amounts then held in the segregated account
referred to in Section 3.07(a)(iii)), such Lender will, to the extent applicable,
purchase such portion of outstanding Loans of the other Lenders and/or make such other
adjustments as the Administrative Agent may determine to be necessary to cause the Credit
Facility Outstandings (including any settlement and/or participation obligations in respect of Letters of Credit, Swing Loans and/or Overdraft
Loans) of the Lenders in each applicable Credit Facility to be on a pro rata
basis in accordance with their respective Commitments under such Credit Facility, whereupon such
Lender will cease to be a Defaulting Lender or Potential Defaulting Lender and will be a
Non-Defaulting Lender (and such Credit Facility Outstandings (including any settlement and/or
participation obligations in respect of Letters of Credit, Swing Loans and/or Overdraft Loans) of
each Lender will automatically be adjusted on a prospective basis to reflect the foregoing);
provided that no adjustments will be made retroactively with respect to fees accrued or
payments made by or on behalf of the Borrowers while such Lender was a Defaulting Lender; and
provided, further, that except to the extent otherwise expressly agreed by the affected
parties, no change hereunder from Defaulting Lender or Potential Defaulting Lender to
Non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder
arising from such Lender’s having been a Defaulting Lender or Potential Defaulting Lender.

          (c) In furtherance of the foregoing, if any Lender becomes, and during the period it
remains, a Defaulting Lender or a Potential Defaulting Lender, each Issuing Bank and the Swing
Loan Bank is hereby authorized by the Borrowers (which authorization is irrevocable and coupled
with an interest) to give, in its discretion, through the Administrative Agent, Notices of
Borrowing pursuant to Section 2.01 in such amounts and in such times as may be required
to (i) reimburse outstanding Reimbursement Obligations, (ii) repay an outstanding Swing Loan,
and/or (iii) Cash Collateralize the obligations of the Borrowers in respect of outstanding
Letters of Credit or Swing Loans in an amount at least equal to the aggregate amount of the
obligations (contingent or otherwise) of such Defaulting Lender or Potential Defaulting Lender in
respect of such Letter of Credit or Swing Loan.

          (d) If any Lender becomes, and during the period it remains, a Defaulting Lender or a
Potential Defaulting Lender, if any Letter of Credit, Swing Loan or Overdraft Loan is at the time
outstanding, the Issuing Bank, the Swing Loan Bank and the Overdraft Line Bank, as the case may
be, may (except, in the case of a Defaulting Lender, to the extent the Commitments have been
fully reallocated pursuant to Section 3.07(a)(iii)) by notice to each Borrower and such
Defaulting Lender or Potential Defaulting Lender through the Administrative Agent, require the
Borrowers to Cash Collateralize the obligations of such Borrower to each Issuing Bank, the Swing
Loan Bank and the Overdraft Line Bank in respect of such Letter of Credit, Swing Loan and the
Overdraft Line Bank, as applicable, amount at least equal to the aggregate amount of the
unreallocated obligations (contingent or otherwise) of such Defaulting Lender or such Potential
Defaulting Lender in respect thereof, or to make other arrangements satisfactory to the
Administrative Agent, and to the Issuing Bank, Swing Loan Bank and Overdraft Line Bank, as the
case may be, in their sole discretion to protect them against the risk of non-payment by such
Defaulting Lender or Potential Defaulting Lender.

          (e) The Borrowers may terminate the unused amount of the Commitment of a Defaulting Lender
upon not less than five (5) Business Days’ prior notice to the Administrative Agent

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(which will promptly notify the Lenders thereof), and in such event the provisions of
Section 3.07(a)(iii) will apply to all amounts thereafter paid by the Borrowers for the
account of such Defaulting Lender under this Agreement (whether on account of principal,
interest, fees, indemnity or other amounts), provided that such termination will not be
deemed to be a waiver or release of any claim the Borrowers, the Administrative Agent, any
Issuing Bank, the Swing Loan Bank, the Overdraft Loan Bank or any Lender may have against such
Defaulting Lender.

          3.08. UK Tax.

          (a) Definitions:

          “Protected Party” means a Lender which is or will be subject to any liability or
required to make any payment for or on account of UK Tax, in relation to a sum received or
receivable (or any sum deemed for the purposes of UK Tax to be received or receivable) under a Loan
Document.

          “Tax Confirmation” means a confirmation by a Lender that the Person beneficially
entitled to interest payable to that Lender in respect of an advance under a Loan Document is
either:

	 	(i)	 	a company resident in the United Kingdom for United Kingdom tax
purposes; or
	 
	 	(ii)	 	a partnership each member of which is:

	 	(a)	 	a company so resident in the United Kingdom for
United Kingdom tax purposes; or
	 
	 	(b)	 	a company not so resident in the United Kingdom
which carries on a trade in the United Kingdom through a permanent
establishment and which brings into account in computing its chargeable
profits (within the meaning of section 19 of the CTA) the whole of any
share of interest payable in respect of that advance that falls to it
by reason of Part 17 of the CTA; or

	 	(iii)	 	a company not so resident in the United Kingdom which carries
on a trade in the United Kingdom through a permanent establishment and which
brings into account interest payable in respect of that advance in computing
its chargeable profits (within the meaning of section 19 of the CTA).

          “Tax Credit” means a credit against, relief or remission for, or repayment of any UK
Tax.

          “Tax Deduction” means a deduction or withholding for or on account of UK Tax from a
payment under a Loan Document.

          “Tax Payment” means either an increased payment made by a Borrower or Guarantor to a
Lender under Section 3.08(e) or a payment under Section 3.08(l).

          “VAT” means value added tax as provided for in the Value Added Tax Act 1994
and any other tax of a similar nature.

	 	(b)	 	Unless a contrary indication appears, in this Section
3.08 a reference to “determines” or “determined” means a
determination made in the absolute discretion of the person making the
determination.

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	 	(c)	 	Each Borrower and Guarantor shall make all payments to be made
by it without any Tax Deduction, unless a Tax Deduction is required by law.
	 
	 	(d)	 	Each Borrower and Guarantor shall promptly upon becoming aware
that it must make a Tax Deduction (or that there is any change in the rate or
the basis of a Tax Deduction) notify the Administrative Agent accordingly.
Similarly, a Lender shall notify the Administrative Agent on becoming so aware
in respect of a payment payable to that Lender. If the Administrative Agent
receives such notification from a Lender it shall notify that Borrower or
Guarantor.
	 
	 	(e)	 	If a Tax Deduction is required by law to be made by a Borrower
or Guarantor, the amount of the payment due from that Borrower or Guarantor
shall be increased to an amount which (after making any Tax Deduction) leaves
an amount equal to the payment which would have been due if no Tax Deduction
had been required.
	 
	 	(f)	 	A payment shall not be increased under paragraph (e) above by
reason of a Tax Deduction if on the date on which the payment falls due:

	 	(i)	 	the payment could have been made to the
relevant Lender without a Tax Deduction if it was a Qualifying Lender,
but on that date that Lender is not or has ceased to be a Qualifying
Lender other than as a result of any change after the date it became a
Lender under this Agreement in (or in the interpretation,
administration, or application of) any law or any published practice or
concession of any relevant taxing authority; or
	 
	 	(ii)	 	the relevant Lender is a Qualifying Lender
solely by virtue of paragraph (i) B of the definition of Qualifying
Lender; and:

	 	(x)	 	an officer of H.M. Revenue &
Customs has given (and not revoked) a direction (a “Direction”)
under section 931 of the Income Tax Act 2007 which relates to
the payment and that Lender has received from the Borrower or
Guarantor making the payment a certified copy of that Direction;
and
	 
	 	(y)	 	the payment could have been made
to the Lender without any Tax Deduction if that Direction had
not been made; or

	 	(iii)	 	the relevant Lender is a Treaty Lender and the
Borrower or Guarantor making the payment is able to demonstrate that
the payment could have been made to the Lender without the Tax
Deduction had that Lender complied with its obligations under paragraph
(v) below.

	 	(g)	 	If a Borrower or Guarantor is required to make a Tax Deduction,
that Borrower or Guarantor shall make that Tax Deduction and any payment
required in connection with that Tax Deduction within the time allowed and in
the minimum amount required by law.
	 
	 	(h)	 	Within 30 days of making either a Tax Deduction or any payment
required in connection with that Tax Deduction, the Borrower or Guarantor
making that Tax Deduction shall deliver to the Administrative Agent for the
Lender entitled to the

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	 	 	 	payment evidence reasonably satisfactory to the Lender that the Tax Deduction has
been made or (as applicable) any appropriate payment paid to the relevant taxing
authority.

	 	(i)	 	A UK Lender which becomes a party to this Agreement on the day
on which this Agreement is entered into gives a Tax Confirmation to the
Borrowers by entering into this Agreement.
	 
	 	(j)	 	A UK Lender which becomes a party to this Agreement by transfer
or assignment under Section 14.01 after the day on which this Agreement
is entered into is deemed to give a Tax Confirmation to the Borrowers on the
date of that transfer or assignment.
	 
	 	(k)	 	A UK Lender shall promptly notify the Borrower and the
Administrative Agent if there is any change in the position from that set out
in the Tax Confirmation.
	 
	 	(l)	 	Each Borrower or Guarantor shall (within 10 Business Days
following written demand by the Administrative Agent), pay to a Protected Party
an amount equal to the loss, liability or cost which that Protected Party
determines will be or has been (directly or indirectly) suffered for or on
account of UK Tax by that Protected Party in respect of a Loan Document.
	 
	 	(m)	 	Paragraph (l) above shall not apply with respect to any UK Tax
assessed on a Lender:

	 	(A)	 	under the law of the jurisdiction in which that
Lender is incorporated or, if different, the jurisdiction (or
jurisdictions) in which that Lender is treated as resident for tax
purposes; or
	 
	 	(B)	 	under the law of the jurisdiction in which that
Lender’s Applicable Lending Office is located in respect of amounts
received or receivable in that jurisdiction,

	 	 	 	if that UK Tax is imposed on or calculated by reference to the net income
received or receivable (but not any sum deemed to be received or receivable)
by that Lender.
	 
	 	(n)	 	Furthermore, paragraph (l) above shall not apply to the extent
a loss, liability or cost:

	 	(A)	 	is compensated for by an increased payment
under paragraph (e) above; or
	 
	 	(B)	 	would have been compensated for by an increased
payment under paragraph (e) above but was not so compensated solely
because the exclusion in paragraph (f) applied.

	 	(o)	 	A Protected Party making, or intending to make a claim under
paragraph (l) above shall promptly notify the Administrative Agent of the event
which will give, or has given, rise to the claim, following which the
Administrative Agent shall notify the Borrower.

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	 	(p)	 	A Protected Party shall, on receiving a payment from a Borrower
or Guarantor under paragraph (l), notify the Administrative Agent.
	 
	 	(q)	 	If a Borrower or Guarantor makes a Tax Payment and the relevant
Lender determines that:

	 	(A)	 	a Tax Credit is attributable to that Tax
Payment; and
	 
	 	(B)	 	that Lender has obtained, utilized and retained
that Tax Credit,

	 	 	 	the relevant Lender shall pay an amount to such Borrower or Guarantor which
that Lender determines will leave it (after that payment) in the same
after-Tax position as it would have been in had the Tax Payment not been
made by such Borrower or Guarantor.
	 
	 	(r)	 	Each Borrower or Guarantor shall pay and, within 10 Business
Days following written demand (accompanied by reasonable backup documentation
therefor), indemnify each Lender against any cost, loss or liability that
Lender incurs in relation to all stamp duty, registration and other similar UK
Taxes payable in respect of any Loan Document.
	 
	 	(s)	 	All amounts set out, or expressed in a Loan Document to be
payable by any party to a Lender which (in whole or part) constitute the
consideration for a supply or supplies for VAT purposes shall be deemed to be
exclusive of any VAT which is chargeable on such supply or supplies, and
accordingly, subject to paragraph (t) below, if VAT is or becomes chargeable on
any supply made by any Lender to any party under a Loan Document, that party
shall pay to the Lender (in addition to and at the same time as paying the
consideration for such supply) an amount equal to the amount of the VAT (and
such Lender shall promptly provide an appropriate VAT invoice to such party).
	 
	 	(t)	 	Where a Loan Document requires any party to reimburse or
indemnify a Lender for any costs or expenses, that party shall reimburse or
indemnify such Lender for the full amount of such costs or expenses, including
such part thereof as represents VAT, save to the extent that the Lender
reasonably determines that it is entitled to credit or repayment in respect of
such VAT from the relevant tax authority.
	 
	 	(u)	 	The UK Borrower shall take all steps as may be reasonably
requested by the Administrative Agent on behalf of any Lender or any Issuing
Bank to enable the relevant Lender or Issuing Bank to comply with certification
or other procedures requisite to obtaining any available benefits under a
relevant Treaty with respect to any payment hereunder or under any Note or
other document evidencing any Obligations, including (without limitation)
providing information to the UK Borrower’s local tax office and shall take such
steps as soon as reasonably possible (having regard to the consequences of any
delay).
	 
	 	(v)	 	A Treaty Lender and the UK Borrower (when making a payment to
which that Treaty Lender is entitled) shall cooperate in completing any
procedural formalities necessary for the UK Borrower to obtain authorization to make that payment
without a Tax Deduction.

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ARTICLE IV

INTEREST AND FEES

          4.01. Interest on the Loans and Other Obligations.

          (a) Rate of Interest. All Loans and the outstanding principal balance of all other
Obligations shall bear interest on the unpaid principal amount thereof from the date such Loans are
made and such other Obligations are due and payable until paid in full, except as otherwise
provided in Section 4.01(d), as follows:

     (i) If a Floating Rate Loan or such other Obligation, at a rate per annum equal
to the sum of the Floating Rate in effect from time to time as interest accrues,
plus the Applicable Floating Rate Margin in effect from time to time;

     (ii) If an Overdraft Loan, at a rate per annum equal to the sum of the Overdraft
Rate in effect from time to time as interest accrues, plus the Applicable
Overdraft Rate Margin in effect from time to time; and

     (iii) If a Fixed Rate Loan, at a rate per annum equal to the sum of the Fixed
Rate determined for the applicable Interest Period and the applicable currency,
plus the Applicable Fixed Rate Margin in effect from time to time during such
Interest Period, plus, if such Fixed Rate Loan was made under the
Multicurrency Facility, the Mandatory Cost.

The applicable basis for determining the rate of interest on any Loan shall be initially determined
in accordance with Section 2.01(d). The applicable basis for determining the rate of
interest on such Loan shall be selected thereafter by the relevant Borrower at the time a Notice of
Conversion/Continuation is delivered by such Borrower to the Administrative Agent. Notwithstanding
the foregoing, such Borrower may not select the Fixed Rate as the applicable basis for determining
the rate of interest on such a Loan if at the time of such selection an Event of Default or Default
would occur or has occurred and is continuing. If on any day any Loan is outstanding with respect
to which notice has not been timely delivered to the Administrative Agent in accordance with the
terms hereof specifying the basis for determining the rate of interest on that day, then for that
day interest on that Loan shall be determined by reference to the applicable Floating Rate.

          (b) Interest Payments.

     (i) Interest accrued on each Floating Rate Loan shall be payable in arrears in
the currency in which such Loan is denominated (A) on the first Business Day of each
calendar month for the preceding calendar month, commencing on the first such day
following the making of such Floating Rate Loan and (B) if not theretofore paid in
full, at maturity (whether by acceleration or otherwise) of such Floating Rate Loan.

     (ii) Interest accrued on each Fixed Rate Loan shall be payable in arrears in the
currency in which such Loan is denominated on the last day of each Fixed Rate Interest
Payment Date with respect to such Loan and (B) if not theretofore paid in full, at
maturity (whether by acceleration or otherwise) of such Fixed Rate Loan.

     (iii) Interest accrued on the principal balance of all other Obligations shall
be payable in arrears in the currency in which such Obligation is denominated (A) on
the first Business Day of each month, commencing on the first such day following the
incurrence of

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such Obligation and (B) if not theretofore paid in full, at the time such other
Obligation becomes due and payable (whether by acceleration or otherwise).

     (c) Conversion or Continuation.

     (i) Each Domestic Borrower shall have the option (A) to convert at any time all
or any part of its outstanding Floating Rate Loans (other than Swing Loans) to Fixed
Rate Loans or (B) to convert all or any part of its outstanding Fixed Rate Loans
having Interest Periods which expire on the same date to Floating Rate Loans on such
expiration date; and each Borrower shall have the option to continue all or any part
of its outstanding Fixed Rate Loans having Interest Periods which expire on the same
date as Fixed Rate Loans denominated in the same currency, and the succeeding Interest
Period of such continued Loans shall commence on such expiration date; provided,
however, in each case, no such outstanding Loan may be continued as, or be converted
into, a Fixed Rate Loan (i) if the continuation of, or the conversion into, such Fixed
Rate Loan would violate any of the provisions of Section 4.02 or (ii) if an
Event of Default or Default would occur or has occurred and is continuing. Any
conversion into or continuation of Fixed Rate Loans under this Section 4.01(c)
shall be in a minimum amount of the Dollar Equivalent of $7,500,000 for Domestic Loans
and $5,000,000 for Multicurrency Loans and in integral Dollar Equivalent multiples of
$1,000,000 in excess of that amount (or, in the case of continuations of Multicurrency
Loans, in such greater or lesser amounts as are as near to $5,000,000 or a multiple of
$1,000,000, as applicable, as reasonably practicable in light of any change in the
Spot Rate between the date of such continuation and the date of the Borrowing or any
previous continuation thereof, as the case may be). Such minimum levels may be
achieved under the Domestic Facility by combining the Loans of more than one Borrower
being continued as or converted into Fixed Rate Loans with the same Interest Period so
long as the minimum amount of any single Borrowing is the Dollar Equivalent of
$1,000,000; and such minimum levels may be achieved under the Multicurrency Facility
by combining the Loans of the same currency of more than one Borrower being continued
as or converted into Fixed Rate Loans with the same Interest Period so long as the
minimum amount of any single Borrowing is the Dollar Equivalent of $1,000,000.

     (ii) To convert or continue a Loan under Section 4.01(c)(i), the
applicable Borrower shall deliver a Notice of Conversion/Continuation to the
Administrative Agent no later than 12:00 p.m. (New York time) at least three Business
Days in advance of the proposed conversion/continuation date with respect to Domestic
Loans and 3:00 p.m. (London time) at least four Business Days in advance of the
proposed conversion/continuation date with respect to Multicurrency Loans. Promptly
after receipt of a Notice of Conversion/Continuation under this Section
4.01(c)(ii), the Administrative Agent shall notify each Lender under the
applicable Credit Facility by telex or telecopy, or other similar form of
transmission, of the proposed conversion/continuation. Any Notice of
Conversion/Continuation for conversion to, or continuation of, a Loan shall be
irrevocable, and the applicable Borrower shall be bound to convert or continue in
accordance therewith.

     (d) Default Interest. Notwithstanding the rates of interest specified in Section
4.01(a) or elsewhere herein, and to the extent permitted by applicable law, effective
immediately upon the occurrence of any Event of Default and for as long thereafter as such Event of
Default shall be continuing, the principal balance of all Loans and of all other Obligations shall
bear interest at a rate which is two percent (2.0%) per annum in excess of the rate of interest
applicable to such Loans and Obligations from time to time.

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          (e) Computation of Interest. Interest on all Obligations shall be computed on the
basis of the actual number of days elapsed in the period during which interest accrues and (i) with
respect to Obligations for Sterling Loans and Overdraft Loans denominated in Sterling, a year of
365 days, and (ii) with respect to all other Obligations, a year of 360 days. In computing
interest on any Loan, the date of the making of the Loan shall be included and the date of payment
shall be excluded.

          (f) Changes; Legal Restrictions. If after the Closing Date any Lender or any Issuing
Bank determines that the adoption or implementation of or any change in or in the interpretation or
administration of any law or regulation or any guideline or request from any central bank or other
Governmental Authority or quasi-governmental authority exercising jurisdiction, power or control
over any Lender, any Issuing Bank or over banks or financial institutions generally (whether or not
having the force of law), compliance with which, in each case after the Closing Date:

     (i) subject to the provisions of Section 3.04 (which will be conclusive
as to matters covered thereby), does or will subject a Lender or an Issuing Bank (or
its Applicable Lending Office or Fixed Rate Affiliate) to charges (other than Taxes)
of any kind which such Lender or Issuing Bank reasonably determines to be applicable
to the Commitments of the Lenders and/or the Issuing Banks to make Fixed Rate Loans or
Issue and/or participate in Letters of Credit or change the basis of taxation of
payments to that Lender or Issuing Bank of principal, fees, interest, or any other
amount payable hereunder with respect to Fixed Rate Loans or Letters of Credit; or

     (ii) does or will impose, modify, or hold applicable, in the determination of a
Lender or an Issuing Bank, any reserve (other than reserves taken into account in
calculating the Fixed Rate), special deposit, compulsory loan, FDIC insurance or
similar requirement against assets held by, or deposits or other liabilities
(including those pertaining to Letters of Credit) in or for the account of, advances
or loans by, commitments made, or other credit extended by, or any other acquisition
of funds by, a Lender or an Issuing Bank or any Applicable Lending Office or Fixed
Rate Affiliate of that Lender or Issuing Bank;

and the result of any of the foregoing is to increase the cost to that Lender or Issuing Bank of
making, renewing or maintaining any Loans or its Commitments or issuing or participating in the
Letters of Credit or to reduce any amount receivable thereunder; then, in any such case, upon
written demand by such Lender or Issuing Bank (with a copy of such demand to the Administrative
Agent), (x) the Domestic Borrowers jointly and severally agree promptly to pay to the
Administrative Agent for the account of such Domestic Lender or Issuing Bank, from time to time as
specified by such Domestic Lender or Issuing Bank, such amount or amounts as may be necessary to
compensate such Domestic Lender or Issuing Bank or its Fixed Rate Affiliate for any such additional
cost incurred or reduced amount received in connection with the Domestic Facility and (y) the
Multicurrency Borrowers jointly and severally agree promptly to pay to the Administrative Agent for
the account of such Multicurrency Lender or Issuing Bank, from time to time as specified by such
Multicurrency Lender or Issuing Bank, such amount or amounts as may be necessary to compensate such
Multicurrency Lender or Issuing Bank or its Fixed Rate Affiliate for any such additional cost
incurred or reduced amount received in connection with the Multicurrency Facility; provided that
the Borrowers shall not be required to compensate any Lender or Issuing Bank pursuant to this
Section 4.01(f) for any increased costs or reductions incurred more than 180 days prior to
the date such Issuing Bank or Lender notifies the applicable Borrower of the event giving rise to
such increased cost or reduction and of such Lender’s or Issuing Bank’s intention to claim
compensation therefor; provided further, however, that such 180-day limitation shall not apply to
any cost or reduction that is applicable retroactively to periods prior to the effective date of the
applicable event so long as the applicable Lender notifies the Borrowers of such event within 180
days of a responsible

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officer of the Administrative Agent receiving actual knowledge thereof. Such demand shall be
accompanied by a statement as to the amount of such compensation. Such statement shall be
conclusive and binding for all purposes, absent manifest error.

          (g) Confirmation of Fixed Rate. Upon the reasonable request of any Borrower from time
to time, the Administrative Agent shall promptly provide to such Borrower such information with
respect to the applicable Fixed Rate as may be so requested.

          (h) Maximum Lawful Rate. Notwithstanding any other provision of this Agreement, if
and to the extent that the laws of the Netherlands, the United Kingdom or any other jurisdiction in
which a Borrower is organized or from which Loans are made are applicable to interest payable under
this Agreement, no interest on the credit advanced will be payable in excess of that permitted by
such laws.

          4.02. Special Provisions Governing Fixed Rate Loans. With respect to Fixed Rate
Loans:

          (a) Determination of Interest Period. By giving notice as set forth in Section
2.01(d) (with respect to a new Borrowing of Domestic Loans or Multicurrency Loans) or
Section 4.01(c) (with respect to a conversion into or continuation of a Fixed Rate Loan),
the applicable Borrower shall have the option, subject to the other provisions of this Section
4.02, to select an interest period (each, an “Interest Period”) to apply to the Loans
described in such notice, subject to the following provisions:

     (i) (A) Such Domestic Borrower may only select, as to a particular Borrowing of
Fixed Rate Loans, an Interest Period of either one (1), two (2), three (3) or six (6)
months in duration and (B) such Multicurrency Borrower may only select, as to a
particular Borrowing of Fixed Rate Loans, an Interest Period of either seven (7) days,
fourteen (14) days, one (1) month, two (2) months, three (3) months or six (6) months
in duration;

     (ii) In the case of immediately successive Interest Periods applicable to a
Borrowing of Fixed Rate Loans, each successive Interest Period shall commence on the
day on which the next preceding Interest Period expires;

     (iii) If any Interest Period would otherwise expire on a day which is not a
Business Day, such Interest Period shall be extended to expire on the next succeeding
Business Day if the next succeeding Business Day occurs in the same calendar month,
and if there shall be no succeeding Business Day in such calendar month, such Interest
Period shall expire on the immediately preceding Business Day;

     (iv) Such Borrower may not select an Interest Period as to any Loan if such
Interest Period terminates later than the Termination Date; and

     (v) There shall be no more than ten (10) Interest Periods in effect at any one
time.

          (b) Determination of Interest Rate. As soon as practicable on the applicable Fixed
Rate Determination Date, the Administrative Agent shall determine (pursuant to the procedures set
forth in the definition of “Fixed Rate”) the interest rate which shall apply to Fixed Rate
Loans for which an interest rate is then being determined for the applicable Interest Period and
currency and shall promptly give notice thereof (in writing or by telephone confirmed in writing)
to the applicable Borrowers and to each Lender. The Administrative Agent’s determination shall be
presumed to be correct, absent manifest error, and shall be binding upon such Borrowers.

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          (c) Interest Rate Unascertainable, Inadequate or Unfair. In the event that (x) in the
case of Domestic Loans, at least one (1) Business Day before and (y) in the case of Multicurrency
Loans, on the Fixed Rate Determination Date with respect to any Fixed Rate Loan in the relevant
currency:

     (i) the Administrative Agent determines that adequate and fair means do not
exist for ascertaining the applicable interest rates by reference to which the
applicable Fixed Rate for the applicable Optional Currency then being determined is to
be fixed;

     (ii) the Administrative Agent determines that deposits in such currency and in
the principal amounts of the Fixed Rate Loans comprising such Borrowing are not
generally available in the London interbank market for a period equal to such Interest
Period; or

     (iii) the Requisite Lenders in the applicable Credit Facility advise the
Administrative Agent that the applicable Fixed Rate for the applicable Optional
Currency, as determined by the Administrative Agent, after taking into account the
adjustments for reserves and increased costs provided for in Section 4.01(f),
will not adequately and fairly reflect the cost to such Lenders of funding the
relevant Fixed Rate Loans in the currency in which such Loans are denominated;

then the Administrative Agent shall forthwith give notice thereof to the Borrowers under the
applicable Credit Facility, whereupon (until the Administrative Agent notifies such Borrowers that
the circumstances giving rise to such suspension no longer exist) the right of such Borrowers to
elect to have Loans bear interest based upon the Fixed Rate in such currency shall be suspended and
each outstanding Fixed Rate Loan which is denominated in the affected currency shall be converted
into a Floating Rate Loan denominated in such currency on the last day of the then current Interest
Period therefor, and any Notice of Borrowing with respect to Loans denominated in such currency for
which Revolving Loans have not then been made shall be deemed to be a request for Floating Rate
Loans in such currency, notwithstanding any prior election by any such Borrower to the contrary.

          (d) Illegality.

     (i) If at any time any Lender determines (which determination shall, absent
manifest error, be final and conclusive and binding upon all parties) that the making
or continuation of any Fixed Rate Loan in any currency has become unlawful or
impermissible by compliance by that Lender with any law, governmental rule, regulation
or order of any Governmental Authority (whether or not having the force of law and
whether or not failure to comply therewith would be unlawful or would result in costs
or penalties), then, and in any such event, such Lender may give notice of that
determination, in writing, to the Borrowers under the applicable Credit Facility and
the Administrative Agent, and the Administrative Agent shall promptly transmit the
notice to each other Lender.

     (ii) When notice is given by a Lender under Section 4.02(d)(i), (A) such
Borrowers’ right to request from such Lender and such Lender’s obligation, if any, to
make Fixed Rate Loans in such currency shall be immediately suspended, and such Lender
shall make a Floating Rate Loan as part of any requested Borrowing of Fixed Rate Loans
in such currency and (B) if the affected Fixed Rate Loan or Loans are then
outstanding, the applicable Borrower shall, on the last day of the applicable
Interests Period(s), or if such postponement is not permitted by applicable law, then
by no later than the date it is required to do so in accordance with applicable law,
upon at least one (1) Business Day’s
prior written notice to the Administrative Agent and the affected Lender, convert
each such Loan into a Floating Rate Loan.

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     (iii) If at any time after a Lender gives notice under Section
4.02(d)(i) in respect of a Fixed Rate Loan in any currency such Lender determines
that it may lawfully make Fixed Rate Loans in such currency, such Lender shall
promptly give notice of that determination, in writing, to the Borrowers under the
applicable Credit Facility and the Administrative Agent, and the Administrative Agent
shall promptly transmit the notice to each other Lender. Such Borrowers’ right to
request, and such Lender’s obligation, if any, to make Fixed Rate Loans shall
thereupon be restored.

          (e) Compensation. In addition to all amounts required to be paid by the Borrowers
pursuant to Section 4.01, each Domestic Borrower agrees to compensate each Domestic Lender
and each Multicurrency Borrower agrees to compensate each Multicurrency Lender, upon demand, for
all losses, expenses and similar liabilities (including, without limitation, any loss or expense
incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such
Lender to fund or maintain such Lender’s Fixed Rate Loans made to such Borrower but excluding any
loss of the Applicable Fixed Rate Margin on the relevant Loans) which that Lender may sustain (i)
if for any reason a Borrowing of, conversion into or continuation of such Fixed Rate Loans does not
occur on a date specified therefor in a Notice of Borrowing or a Notice of Conversion/Continuation
given by such Borrower or a successive Interest Period does not commence after notice therefor is
given pursuant to Section 4.01(c), including, without limitation, pursuant to Section
4.02(c), (ii) if for any reason any Fixed Rate Loan made to such Borrower is prepaid
(including, without limitation, mandatorily pursuant to Section 3.01) on a date which is
not the last day of the applicable Interest Period (it being understood and agreed that,
notwithstanding anything contained in this Agreement to the contrary, so long as no Default or
Event of Default shall have occurred and be continuing, such Borrower may, in lieu of making a
mandatory prepayment of a Fixed Rate Loan which would otherwise be required to be made under this
Agreement on a date which is not the last day of the applicable Interest Period, deposit an amount
equal to the amount which would otherwise be required to be so prepaid (plus interest accrued
thereon for the appropriate number of days at the rate applicable to such Loan) into the Domestic
Cash Collateral Account (or, in the case of Fixed Rate Loans denominated in an Optional Currency,
an appropriate Cash Collateral Account) as Cash Collateral for application by the Administrative
Agent to such Loan on the last day of such Interest Period), (iii) as a consequence of a required
conversion of such Fixed Rate Loan to a Floating Rate Loan as a result of any of the events
indicated in Section 4.02(c) or (d), (iv) as a consequence of any failure by such
Borrower to repay Fixed Rate Loans when required by the terms hereof or (v) as a consequence of a
reallocation of the Commitments pursuant to Section 3.01 hereof. The Lender making demand
for such compensation shall deliver to the applicable Borrower concurrently with such demand a
written statement as to such losses, expenses and similar liabilities, and such statement shall be
conclusive as to the amount of compensation due to that Lender, absent manifest error.

          4.03. Fees.

          (a) Letter of Credit Fee. In addition to any charges paid pursuant to Section
2.02(g), each Borrower agrees to pay to the Administrative Agent for the account of the Lenders
under the applicable Credit Facility as provided in the following sentence with respect to any
Letter of Credit Issued by any Issuing Bank for the account of such Borrower, a fee per annum (the
“Letter of Credit Fee”) equal to the Applicable Letter of Credit Fee Rate in effect as of
the date of each such payment on the undrawn face amount of such Letter of Credit, payable in
arrears on the first Business Day of each calendar month for the preceding calendar month and on
the date on which such Letter of Credit expires in accordance with its terms; provided, however,
effective immediately upon the occurrence of any Event of Default and for so long thereafter as
such Event of Default shall be continuing, the rate at which the Letter of Credit
Fees shall accrue and be payable shall be equal to two percent (2.0%) per annum in excess of
the Applicable Letter of Credit Fee Rate in effect from time to time. The Administrative Agent
shall pay

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each Letter of Credit Fee to the Lenders in accordance with their respective Pro Rata Shares of the
Credit Facility under which such Letter of Credit has been issued.

          (b) Unused Commitment Fee. The Domestic Borrowers jointly and severally agree to pay
to the Administrative Agent, for the account of the Domestic Lenders, and the Multicurrency
Borrowers jointly and severally agree to pay to the Administrative Agent, for the account of the
Multicurrency Lenders, in accordance with each Lender’s respective Pro Rata Shares of the
applicable Credit Facility, a fee (the “Unused Commitment Fee”), in each case accruing from
the Closing Date at a per annum rate equal to the Applicable Unused Commitment Fee Rate in effect
as of the payment date set forth below, on the average amount by which (i) the Commitment under the
applicable Credit Facility exceeds (ii) an amount equal to the Credit Facility Outstandings under
such Credit Facility less the Letter of Credit Obligations set forth in clause (c) of the
definition thereof to the extent included in the determination of Credit Facility Outstandings, for
the period commencing on the Closing Date and ending on the Termination Date, the accrued portion
of such fee being payable (A) monthly, in arrears, on the first Business Day of the immediately
succeeding calendar month, commencing on the first such day after the Closing Date and (B) on the
Termination Date.

          (c) Amendment and Restatement Fee; Other Fees. The Borrowers jointly and severally
agree to pay to the Administrative Agent, for the ratable benefit of (x) the Domestic Lenders, an
amendment and restatement fee in immediately available funds equal to 0.75% of the Domestic
Commitments in effect as of the Closing Date and (y) the Multicurrency Lenders, an amendment and
restatement fee in immediately available funds equal to 1.00% of the Multicurrency Commitments in
effect as of the Closing Date. Such fee shall be paid on the Closing Date. In addition to the
foregoing, (i) the Borrowers agree to pay to the Joint Lead Arrangers solely for their own accounts
such other fees as are set forth in the “Fee Letter” described in the Proposal Letter and (ii) the
Borrowers agree to pay to the Administrative Agent solely for its own account such other fees as
are set forth in the Administrative Agent Fee Letter.

          (d) Calculation and Payment of Fees. All of the above fees that are based on a per
annum rate shall be calculated on the basis of the actual number of days elapsed in a 360-day year.
All such fees shall be payable in addition to, and not in lieu of, interest, expense
reimbursements, indemnification and other Obligations. Fees shall be payable by the Domestic
Borrowers to the Domestic Concentration Account and by the Multicurrency Borrowers to the
Multicurrency Payment Account in accordance with Section 3.02. All fees payable hereunder
shall be fully earned and, subject only to Section 14.01(c), nonrefundable when paid. All
fees specified or referred to herein due to the Administrative Agent, any Issuing Bank or any
Lender, including, without limitation, those referred to in this Section 4.03, shall bear
interest, if not paid when due, at the interest rate for Loans in accordance with Section
4.01(d), shall constitute Obligations and shall be secured by the Collateral.

          (e) Defaulting Lenders. Anything herein to the contrary notwithstanding, during such
period as a Lender is a Defaulting Lender, such Defaulting Lender will not be entitled to any fees
accruing during such period pursuant to Section 4.02(a) and (b) (without prejudice
to the rights of the Lenders other than Defaulting Lenders in respect of such fees),
provided that (a) to the extent that a portion of the settlement and/or participation
obligations in respect of Letters of Credit, Swing Loans and/or Overdraft Loans of such Defaulting
Lender is reallocated to the Non-Defaulting Lenders pursuant to Section 3.07(a), such fees
that would have accrued for the benefit of such Defaulting Lender will instead accrue for the
benefit of and be payable to such Non-Defaulting Lenders, pro rata in accordance
with their respective Commitments, and (b) to the extent any portion of such settlement and/or
participation obligations in respect of Letters of Credit, Swing Loans and/or Overdraft Loans
cannot be so reallocated, such fees will instead accrue for the benefit of and be payable to the
Issuing Banks, the Swing

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Loan Bank the Overdraft Loan Bank as their interests appear (and the pro rata
payment provisions of this Agreement will automatically be deemed adjusted to reflect the
provisions of this Section).

ARTICLE V

CONDITIONS TO EFFECTIVENESS;

CONDITIONS TO LOANS AND LETTERS OF CREDIT

          5.01. Conditions Precedent to Effectiveness. This Agreement shall become effective on
the date (the “Closing Date”) when all of the following conditions precedent shall have
been satisfied or waived in writing by the Administrative Agent:

          (a) Documents. The Administrative Agent (on behalf of itself and the Lenders) shall
have received on or before the Closing Date all of the following:

     (i) this Agreement, the Notes and all other agreements, documents and
instruments (other than any items designated as “post-closing” items in the
Post-Closing Agreement) relating to the loan and other credit transactions
contemplated by this Agreement and described in the List of Closing Documents attached
hereto and made a part hereof as Exhibit S (the “Closing List”), each
duly executed where appropriate and in form and substance satisfactory to the
Administrative Agent and in sufficient copies for each of the Lenders; without
limiting the foregoing, the Borrowers hereby direct their counsel, (A) Jones Day and
(B) each of its other counsel listed in the Closing List to prepare and deliver to the
Administrative Agent, the Lenders, the Issuing Banks and Sidley Austin LLP, the
opinions referred to in the Closing List with respect to such counsel;

     (ii) the Pro Forma accompanied by the Initial Projections;

     (iii) a solvency certificate for each Borrower, Foreign Credit Party and for the
Borrowers and their Subsidiaries on a combined basis, duly executed by a Financial
Officer of each Borrower, dated the Closing Date and giving effect to the financing
transactions contemplated under this Agreement;

     (iv) a Notice of Borrowing executed by each Borrower which desires to borrow
Loans on the Closing Date, dated the Closing Date, with respect to such Loans;

     (v) a certificate of a Financial Officer of each Borrower executed and delivered
on behalf of such Borrower certifying that (A) no Material Adverse Effect has occurred
since December 31, 2009, (B) all conditions precedent set forth in this Section
5.01 and Section 5.02 have been satisfied and (C) after giving effect to
the financing transactions contemplated under this Agreement, all representations and
warranties in this Agreement and the other Loan Documents are true and correct in all
respects, no Default or Event of Default has occurred and is continuing and no event
that is reasonably likely to have a Material Adverse Effect has occurred and is
continuing;

     (vi) a Borrowing Base Certificate for the Domestic Borrowers and a Borrowing
Base Certificate for the Multicurrency Borrowers, dated on or about the Closing Date
and giving effect to the financing transactions contemplated under this Agreement,
adequately supporting the Loans requested to be made and the Letters of Credit
requested to be Issued and showing aggregate Liquidity equal to or in excess of
$100,000,000 after giving effect to such Loans or Letters of Credit;

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     (vii) evidence reasonably satisfactory to it that the Borrowers have paid all
fees payable on the date hereof pursuant to the Loan Documents;

     (viii) an updated field examination report of Domestic Collateral in form and
scope reasonably satisfactory to the Joint Lead Arrangers;

     (ix) payment of all accrued fees and interest outstanding under the Previous
Agreement; and

     (x) such additional documentation as the Administrative Agent and the Lenders
may reasonably request.

          (b) Collateral Information; Perfection of Liens. The Administrative Agent shall have
received complete and accurate information from each Borrower with respect to the name and the
location of the principal place of business and chief executive office for each Borrower and each
Borrower Subsidiary; all Uniform Commercial Code and other filing and recording fees and taxes
shall have been paid or duly provided for; and the Administrative Agent shall have received
evidence to its satisfaction that all Liens granted to the Administrative Agent with respect to all
Collateral are valid, effective, perfected and of first priority, except as otherwise permitted
under this Agreement, including, without limitation, all affirmations of collateral documents and
guarantees and amendments to federal intellectual property filings requested by the Administrative
Agent. All certificates representing Capital Stock included in the Collateral shall have been
delivered to the Administrative Agent (with duly executed stock powers, as appropriate) and all
instruments included in the Collateral shall have been delivered to the Administrative Agent (duly
endorsed to the Administrative Agent).

          (c) No Legal Impediments. No law, regulation, order, judgment or decree of any
Governmental Authority shall exist, which, in the sole discretion of the Administrative Agent,
imposes adverse conditions on the Borrowers, the Borrower Subsidiaries or the consummation of the
transactions contemplated hereunder; and the Administrative Agent shall not have received any
notice that any action, suit, investigation, litigation or proceeding is pending or threatened in
any court or before any arbitrator or Governmental Authority which is likely to (i) enjoin,
prohibit or restrain the making of Loans and/or the Issuance of Letters of Credit on the Closing
Date, or (ii) have a Material Adverse Effect.

          (d) No Change in Condition. Nothing contained in any disclosure made by NMHG Holding
or any of its Subsidiaries after the date of the Proposal Letter or in any information disclosed to
any Lender by NMHG Holding or any of its Subsidiaries after such date shall constitute, and the
Administrative Agent shall not become aware of any fact or condition not disclosed to it prior to
the date of the Proposal Letter which constitutes, in each case in the Administrative Agent’s
reasonable opinion, a material adverse change in the condition (financial or otherwise), business,
performance, operations, prospects or properties of any Borrower or the Borrowers and the Borrower
Subsidiaries taken as a whole from that disclosed in the information provided to the Administrative
Agent on or before the date of the Proposal Letter.

          (e) No Default. No Event of Default or Default shall have occurred and be continuing
or would result from the making of the Loans requested to be made or the Issuance of the Letters of
Credit requested to be Issued on the Closing Date.

          (f) Representations and Warranties. All of the representations and warranties
contained in this Agreement and in any of the other Loan Documents shall be true and correct on and
as of the Closing Date, both before and immediately after giving effect to the making of the
Loans and the Issuance of any Letters of Credit, if any, on such date.

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          (g) Fees and Expenses Paid. There shall have been paid to the Administrative Agent,
for the account of the Lenders and the Administrative Agent or other Persons entitled thereto, for
their respective individual accounts, all fees (including, without limitation, the reasonable legal
fees of counsel to the Administrative Agent and local and foreign counsel to the Administrative
Agent) due and payable on or before the Closing Date (including, without limitation, all such fees
described in the Proposal Letter (and the “Fee Letter” referenced therein) and the Administrative
Agent Fee Letter), and all expenses (including, without limitation, legal expenses) due and payable
on or before the Closing Date.

          (h) Consents, Etc. Each Borrower and each Borrower Subsidiary shall have received all
consents and authorizations required pursuant to any Contractual Obligation with any other Person
and shall have obtained all Permits of, and effected all notices to and filings with, any
Governmental Authority as may be necessary to allow each Borrower and each Borrower Subsidiary
lawfully (A) to execute, deliver and perform, in all respects, their respective obligations
hereunder, under the other Loan Documents to which each of them is, or shall be, a party and each
other agreement or instrument to be executed and delivered by each of them pursuant thereto or in
connection therewith and (B) to create and perfect the Liens on the Collateral to be owned by each
of them in the manner and for the purpose contemplated by the Loan Documents. No such consent or
authorization shall impose any conditions upon any Borrower or any Borrower Subsidiary that are not
acceptable to the Administrative Agent.

          (i) Cash Management Systems. The Administrative Agent shall have received
satisfactory evidence that on and after the Closing Date it will have control of the Bank Accounts
and deposit accounts (other than any Disbursement Accounts), and securities accounts of the Credit
Parties.

          5.02. Conditions Precedent to Revolving Loans, Swing Loans, Overdraft Loans and Letters of
Credit. The obligation of each Lender to make any Revolving Loan, of the Overdraft Line Bank
to make any Overdraft Loan and of the Swing Loan Bank to make any Swing Loan, requested to be made
by it on any date, and the agreement of each Issuing Bank to Issue any Letter of Credit on any date
is subject to the following conditions precedent as of each such date:

          (a) Representations and Warranties. As of such date, both before and after giving
effect to the Loans to be made or the Letter of Credit to be Issued on such date, all of the
representations and warranties of the Borrowers and the Borrower Subsidiaries in this Agreement and
in any other Loan Document (other than representations and warranties which expressly speak as of a
different date, which representations shall be only made on such date) shall be true and correct in
all material respects.

          (b) No Default. No Event of Default or Default shall have occurred and be continuing
or would result from the making of the requested Loan or the Issuance of the requested Letter of
Credit.

          (c) No Legal Impediments. No law, regulation, order, judgment or decree of any
Governmental Authority shall, and the Administrative Agent shall not have received from the
Requisite Lenders, the Swing Loan Bank, the Overdraft Line Bank or Issuing Banks, as the case may
be, notice that, in the judgment of such Person, any action, suit, investigation, litigation or
proceeding is pending or threatened in any court or before any arbitrator or Governmental Authority
which is likely to enjoin, prohibit or restrain, or impose or result in the imposition of any
material adverse condition upon, (i) such Lender’s making of the requested Loan or participation in
the requested Letter of Credit, (ii) the Swing Loan Bank’s making of the requested Swing Loan,
(iii) the Overdraft Line Bank’s making of the requested Overdraft Loan or (iv) such Issuing Bank’s
issuance of the requested Letter of Credit.

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          (d) Defaulting Lenders. In addition to the other conditions precedent herein set
forth, if any Lender becomes, and during the period it remains, a Defaulting Lender or a Potential
Defaulting Lender, no Issuing Bank will be required to issue any Letter of Credit or to amend any
outstanding Letter of Credit, the Swing Loan Bank will not be required to make any Swing Loan and
the Overdraft Line Bank will not be required to make any Overdraft Loan, unless such Issuing Bank,
the Swing Loan Bank or the Overdraft Loan Bank, as the case may be, is satisfied that any exposure
that would result therefrom is eliminated or fully covered by the Commitments of the Non-Defaulting
Lenders or by Cash Collateralization or a combination thereof satisfactory to the Issuing Bank,
Swing Loan Bank or Overdraft Line Bank.

          Each submission by a Borrower to the Administrative Agent of a Notice of Borrowing with
respect to a Revolving Loan or Swing Loan, each acceptance by a Borrower of the proceeds of each
such Revolving Loan and Swing Loan and any Overdraft Loan, each submission by a Borrower to an
Issuing Bank of a Notice of a Letter of Credit Issuance and the Issuance of such Letter of Credit,
shall constitute a representation and warranty by such Borrower as of the Funding Date in respect
of such Revolving Loan, as of the Swing Loan Funding Date in respect of such Swing Loan, as of the
funding date in respect of any Overdraft Loan and as of the date of issuance of such Letter of
Credit, that all the conditions contained in subsections (a), (b) and (c) of this Section
5.02 have been satisfied or waived in accordance with Section 14.07.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

          6.01. Representations and Warranties of the Borrowers. In order to induce the Lenders
and the Issuing Bank to enter into this Agreement and to make the Loans and the other financial
accommodations to the Borrowers and to Issue the Letters of Credit described herein, each of the
Borrowers (other than the Multicurrency Borrowers, which so represent and warrant in favor of the
Multicurrency Lenders, only with respect to themselves and their unconsolidated liabilities,
assets, business and operations) hereby represents and warrants to each Lender, each Issuing Bank
and the Administrative Agent as of the Closing Date and thereafter on each date as required by
Section 5.02(a) that the following statements are true, correct and complete:

          (a) Organization; Corporate and Limited Liability Company Powers.

     (i) Each of the Borrowers and Borrower Subsidiaries (A) is a corporation or
limited liability company duly organized, validly existing and in good standing under
the laws of the jurisdiction of its organization, (B) is duly qualified to do business
as a foreign corporation or limited liability company and is in good standing under
the laws of each jurisdiction in which failure to be so qualified and in good standing
is reasonably likely to have a Material Adverse Effect, and (C) has all requisite
corporate or limited liability company power and authority to own, operate and
encumber its Property and to conduct its business as presently conducted and as
proposed to be conducted in connection with and following the consummation of the
transactions contemplated by this Agreement. NMHG has filed and maintained effective
(unless exempt from the requirements for filing) a current Business Activity Report
with the appropriate Governmental Authority in the states of New Jersey and Minnesota
to the extent such states require such filings in order to enforce rights in or
against Collateral or obligors of Collateral located in such states.

     (ii) True, correct and complete copies of the Constituent Documents identified
on Schedule 6.01-A attached hereto have been delivered to the Administrative
Agent, each of which is in full force and effect, has not been modified or amended
except to the extent

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indicated therein and, to the best of each Borrower’s knowledge, there are no defaults
under such Constituent Documents and no events which, with the passage of time or
giving of notice or both, would constitute a default under such Constituent Documents.

          (b) Authority; Enforceability.

     (i) Each Borrower and Borrower Subsidiary has the requisite corporate or limited
liability company power and authority to execute, deliver and perform each of the Loan
Documents to which it is a party.

     (ii) The execution, delivery and performance of each of the Loan Documents which
have been executed and to which any Borrower or Borrower Subsidiary is a party and the
consummation of the transactions contemplated thereby, have been duly approved by the
boards of directors (or boards of managers or members, as applicable) and (to the
extent required by law) the shareholders or equityholders of such Borrower or Borrower
Subsidiary, respectively, and such approvals have not been rescinded, revoked or
modified in any respect. No other corporate or limited liability company action or
proceedings on the part of any Borrower or any Borrower Subsidiary are necessary to
consummate such transactions.

     (iii) Each of the Loan Documents to which any Borrower or any Borrower
Subsidiary is a party has been duly executed and delivered on behalf of such Person
and constitutes its legal, valid and binding obligation, enforceable against such
Person in accordance with its terms and is in full force and effect and no material
term or condition thereof has been amended, modified or waived from the terms and
conditions contained therein as delivered to the Administrative Agent pursuant to
Section 5.01(a) without the prior written consent of the Requisite Lenders.

     (iv) Each of the Loan Documents to which any Borrower or any Borrower Subsidiary
is a party, where applicable, creates valid and perfected first priority Liens
(subject only to Customary Permitted Liens specified in clauses (a) and (b) of
the definition thereof) in the Collateral covered thereby securing the payment of all
of the Obligations purported to be secured thereby.

     (v) Each Borrower and Borrower Subsidiary has performed and complied with all
the terms, provisions, agreements and conditions set forth in each Loan Document to
which it is a party and required to be performed or complied with by such parties on
or before the Closing Date, all filings and recordings and other actions which are
necessary or desirable to perfect and protect the Liens granted pursuant to the Loan
Documents and preserve their required priority have been duly taken, and no Default,
Event of Default or breach of any covenant by any such party exists thereunder.

          (c) Subsidiaries; Ownership of Capital Stock. Schedule 6.01-C (i) contains a
diagram indicating the corporate or limited liability company structure of each Borrower, Borrower
Subsidiary and any other Affiliate thereof in which such Person holds a direct or indirect
partnership, joint venture or other equity interest; and (ii) accurately sets forth (A) the correct
legal name, the jurisdiction of organization, the organizational identification number issued by
the state of organization of and the federal employer identification number of (in each case, if
applicable) each Borrower and Borrower Subsidiary, and the jurisdictions in which each Borrower and
Borrower Subsidiary is qualified to transact business as a foreign organization, (B) the
authorized, issued and outstanding shares of each class of Capital Stock of such Person and the
owners of such shares, and (C) a summary of the direct and

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indirect partnership, joint venture, or other equity interests, if any, of each such Person in any
Person that is not a corporation. None of the issued and outstanding Capital Stock of any Borrower
and Borrower Subsidiary is subject to any vesting, redemption, or repurchase agreement, and there
are no warrants or options outstanding with respect to such Capital Stock. The outstanding Capital
Stock of each Borrower and Borrower Subsidiary is duly authorized, validly issued, fully paid and
nonassessable and is not Margin Stock.

          (d) No Conflict. The execution, delivery and performance of each of the Loan
Documents to which any Borrower or Borrower Subsidiary is a party do not and will not (i) conflict
with the Constituent Documents of any Borrower or Borrower Subsidiary, (ii) constitute a tortious
interference with any Contractual Obligation of any Person, (iii) conflict with, result in a breach
of or constitute (with or without notice or lapse of time or both) a default under any Requirement
of Law or other Contractual Obligation of any Borrower or Borrower Subsidiary, or require the
termination of any other Contractual Obligation, (iv) result in or require the creation or
imposition of any Lien whatsoever upon any of the Property or assets of any Borrower or Borrower
Subsidiary, other than Liens contemplated by the Loan Documents, or (v) require any approval of any
Borrower or Borrower Subsidiary shareholders that has not been obtained.

          (e) Governmental Consents, etc. The execution, delivery and performance of each of
the Loan Documents to which each Borrower and Borrower Subsidiary is a party do not and will not
require any registration with, consent or approval of, or notice to, or other action to, with or by
any Governmental Authority, except (i) filings, consents or notices which have been made, obtained
or given, or, in a timely manner, will be made, obtained, or given; and (ii) filings necessary to
create or perfect security interests in the Collateral. None of the Borrowers and Borrower
Subsidiaries is subject to regulation under the Federal Power Act, the Interstate Commerce Act, or
the Investment Company Act of 1940, or any other federal or state statute or regulation which
limits its ability to incur indebtedness or its ability to consummate the transactions contemplated
in the Loan Documents.

          (f) Accommodation Obligations; Contingencies. Except as set forth on Schedule 1.01.4,
no Borrower or any Borrower Subsidiary has any Accommodation Obligation, contingent liability or
liability for any Taxes, UK Taxes long-term lease or commitment, not reflected in its Financial
Statements delivered to the Administrative Agent on or prior to the Closing Date or otherwise
disclosed to the Administrative Agent and the Lenders in the other Schedules hereto.

          (g) Restricted Payments. Since the date of the Proposal Letter, no Borrower or any
Borrower Subsidiary has directly or indirectly declared, ordered, paid or made or set apart any sum
or Property for any Restricted Payment or agreed to do so, except as permitted pursuant to
Section 9.06 hereof.

          (h) Financial Position. The Initial Projections and each of the business plans and
all other financial projections and related materials and documents delivered to the Lenders
pursuant hereto (including, but not limited to, each Borrowing Base Certificate delivered
hereunder) were prepared in good faith and are based upon facts and assumptions that management of
the Borrowers believe to be reasonable in light of the then current and foreseeable business
conditions and prospects of NMHG Holding and its Subsidiaries and represent management’s opinion of
the projected financial performance based on the information available at the time so furnished.
All Financial Statements included in such materials were prepared in all material respects in
conformity with GAAP, except as otherwise noted therein, and fairly present in all material
respects the respective consolidated financial positions, and the consolidated results of
operations and cash flows for each of the periods covered thereby of NMHG Holding and its
Subsidiaries as at the respective dates thereof. The Pro Forma, copies of which have been
furnished to the Lenders, fairly presents on a pro forma basis the financial
condition of NMHG Holding

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and its Subsidiaries as of the Closing Date, and reflects on a pro forma basis
those liabilities reflected in the notes thereto and resulting from consummation of the
transactions contemplated by the Loan Documents, and the payment or accrual of all transaction
costs payable with respect to any of the foregoing. The Borrowers believe that the Initial
Projections and the assumptions expressed in the Pro Forma are reasonable based on the information
available to the Borrowers at the time so furnished.

          (i) Litigation; Adverse Effects. Except as set forth in Schedule 6.01-I,
there is no action, suit, audit, proceeding, claim, allegation of defective pricing, investigation
or arbitration (or series of related actions, suits, proceedings, allegations, investigations or
arbitrations) before or by any Governmental Authority or private arbitrator pending or, to the
Knowledge of any Borrower or any Borrower Subsidiary, threatened against any Borrower or any
Borrower Subsidiary or any Property of any of them (i) challenging the validity or the
enforceability of any of the Loan Documents, (ii) which has or is reasonably likely to have a
Material Adverse Effect, or (iii) under the Racketeering Influenced and Corrupt Organizations Act
or any similar federal or state statute where such Person is a defendant in a criminal indictment
that provides for the forfeiture of assets to any Governmental Authority as a criminal penalty.
There is no material loss contingency within the meaning of GAAP which has not been reflected in
the consolidated Financial Statements of NMHG Holding and its Subsidiaries. No Borrower nor any
Borrower Subsidiary is (A) in violation of any applicable Requirements of Law which violation has
had or is reasonably likely to have a Material Adverse Effect, or (B) subject to or in default with
respect to any final judgment, writ, injunction, restraining order or order of any nature, decree,
rule or regulation of any court or Governmental Authority which has had or is reasonably likely to
have a Material Adverse Effect.

          (j) No Material Adverse Change. Since December 31, 2009, there has occurred no event
which has resulted or is reasonably likely to have a Material Adverse Effect.

          (k) Payment of Taxes and UK Taxes. All tax returns and reports of each Borrower and
Borrower Subsidiary required to be filed have been timely filed, and all taxes, assessments, fees
and other governmental charges thereupon and upon their respective Property, assets, income and
franchises which are shown in such returns or reports to be due and payable have been paid other
than such taxes, assessments, fees and other governmental charges (i) which are being contested in
good faith by a Borrower or Borrower Subsidiary, as the case may be, by appropriate proceedings
diligently instituted and conducted as permitted by the terms of Section 8.04 and (ii)
non-payment of the amounts thereof would not, individually or in the aggregate, result in a
Material Adverse Effect. No Borrower or Borrower Subsidiary has any knowledge of any proposed tax
assessment against any Borrower or Borrower Subsidiary that shall have or is reasonably likely to
have a Material Adverse Effect.

          (l) Performance. None of the Borrowers or Borrower Subsidiaries has received notice
or has actual Knowledge that (i) it is in default in the performance, observance or fulfillment of
any of the obligations, covenants or conditions contained in any Contractual Obligation applicable
to it; (ii) any condition exists which, with the giving of notice or the lapse of time or both,
would constitute a default with respect to any such Contractual Obligation; or (iii) any of its
Property is in violation of any Requirement of Law and which in the case of any of the foregoing
has had or is reasonably likely to have a Material Adverse Effect.

          (m) Disclosure. The representations and warranties of each Borrower and Borrower
Subsidiary contained in the Loan Documents and all certificates and documents delivered to the
Administrative Agent and the Lenders pursuant to the terms hereof and the other Loan Documents, do
not contain any untrue statement of a material fact or omit to state a material fact necessary in
order to make the statements contained herein or therein, in light of the circumstances under which
and the time at which they were made, not misleading. No Borrower nor Borrower Subsidiary has
intentionally withheld

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any fact from the Administrative Agent, any Issuing Bank or any Lender in regard to any matter
which has had or is reasonably likely to have a Material Adverse Effect.

          (n) Requirements of Law. Each of the Borrowers and Borrower Subsidiaries is in
compliance with all Requirements of Law applicable to it and its business, in each case where the
failure to so comply individually or in the aggregate shall have or is reasonably likely to have a
Material Adverse Effect.

          (o) Environmental Matters. Except as set forth in Schedule 6.01-O and except
as is not reasonably likely to have a Material Adverse Effect:

     (i) the operations of the Borrowers and Borrower Subsidiaries comply in all
respects with all applicable Environmental, Health or Safety Requirements of Law;

     (ii) each Borrower and Borrower Subsidiary has obtained all environmental,
health and safety Permits necessary for its respective operations as currently
conducted and Properties as currently used, and all such Permits are in good standing,
and each Borrower and each Borrower Subsidiary is currently in compliance with all
terms and conditions of such Permits;

     (iii) none of the Borrowers and Borrower Subsidiaries nor any of their
respective present or past Property or operations, are subject to or the subject of
any currently effective or ongoing judicial or administrative proceeding, order,
judgment, decree, dispute, negotiations, agreement, or settlement respecting (I) any
violation of or liability under any Environmental, Health or Safety Requirements of
Law, (II) any Remedial Action, or (III) any Claims or Liabilities and Costs arising
from the Release or threatened Release of a Contaminant into the environment;

     (iv) no Borrower nor any Borrower Subsidiary has filed any notice under any
applicable Requirement of Law: (A) reporting to any Person or Governmental Authority a
Release of a Contaminant within the past three years; (B) reporting under Section
103(c) of CERCLA, indicating past or present treatment, storage or disposal of a
hazardous waste, as that term is defined under 40 C.F.R. Part 261 or any state
equivalent; or (C) reporting a violation of any applicable Environmental, Health or
Safety Requirement of Law or condition in any Permit under an Environmental, Health or
Safety Requirement of Law within the past three years;

     (v) none of the present or, to any Borrower’s Knowledge, past Property of any
Borrower or Borrower Subsidiary is listed or proposed for listing on the National
Priorities List (“NPL”) pursuant to CERCLA or on the Comprehensive
Environmental Response Compensation Liability Information System List
(“CERCLIS”) or any similar state list of sites requiring Remedial Action;

     (vi) no Borrower nor any Borrower Subsidiary has, to its Knowledge, sent or
directly arranged for the transport of any product, material or waste, to any current
or proposed NPL site, or any site on any similar state list of sites requiring
Remedial Action;

     (vii) there is not now in connection with or resulting from any Borrower’s or
any of Borrower Subsidiary’s operations, nor, to any Borrower’s knowledge, has there
ever been on or in any of the current or former Property (A) any treatment, recycling,
storage or disposal of any hazardous waste requiring a permit under 40 C.F.R. Parts
264 and 265 or

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any state equivalent, (B) any solid waste landfill, waste pile, petroleum or hazardous
waste, swamp, pit, pond, underground storage tank or surface impoundment, or (C) a
reportable or non-permitted Release to the environment of any Contaminant involving
any polychlorinated biphenyls used in hydraulic oils, electrical transformers or other
Equipment;

     (viii) to each Borrower’s and Borrower Subsidiary’s Knowledge, there have been
no Releases of any Contaminants to the environment from any Property except (A) in
compliance with Environmental, Health or Safety Requirements of Law, or (B) which have
been addressed to the satisfaction of the appropriate Governmental Authorities;

     (ix) no Environmental Lien has attached to any Property;

     (x) within the last year each Borrower and Borrower Subsidiary has inspected its
respective Property and such Property does not contain any asbestos-containing
material or visible evidence of mold growth;

     (xi) none of the Property presently is subject to any Environmental Property
Transfer Act, or the extent such acts are presently applicable to any such Property,
the Borrowers and the Borrower Subsidiaries have fully complied with the requirements
of such acts; and

     (xii) the Borrowers and their Subsidiaries, taken as a whole, are not, and to
their Knowledge will not be, subject to Liabilities and Costs arising out of or
relating to environmental, health or safety matters that have resulted or are
reasonably likely to result in cash expenditures by the Borrowers and their
Subsidiaries in excess of $2,500,000 in the aggregate for any calendar year ending
after the Closing Date.

          (p) ERISA Matters. No Borrower nor any ERISA Affiliate maintains or contributes to
any Benefit Plan, Multiemployer Plan or Foreign Pension Plan other than those listed on
Schedule 6.01-P attached hereto. Each Plan which is intended to be qualified under Section
401(a) of the Internal Revenue Code as currently in effect either (i) has received a favorable
determination letter from the IRS that the Plan is so qualified or (ii) an application for
determination of such tax-qualified status will be made to the IRS prior to the end of the
applicable remedial amendment period under Section 401(b) of the Internal Revenue Code as currently
in effect, and a Borrower or an ERISA Affiliate shall diligently seek to obtain a determination
letter with respect to such application. Except as identified on Schedule 6.01-P, no
Borrower nor any Borrower Subsidiary maintains or contributes to any employee welfare benefit plan
that provides group health or life insurance benefits within the meaning of Section 3(1) of ERISA
which provides benefits to employees after termination of employment other than as required by
Section 601 of ERISA. Except as would reasonably be expected to result in a Material Adverse
Effect, each Borrower and each Borrower Subsidiary is in compliance in all respects with the
responsibilities, obligations and duties imposed on it by ERISA and the Internal Revenue Code with
respect to all Plans. Except as would reasonably be expected to result in a Material Adverse
Effect, (i) no Benefit Plan has failed to satisfy the minimum funding standard (as defined in
Sections 302(a)(2) of ERISA and 412(a)(2) of the Internal Revenue Code) for a plan year without the
need of any funding waiver under Section 412(c) of the Code; (ii) no Borrower or any ERISA
Affiliate nor any fiduciary of any Plan which is not a Multiemployer Plan (a) has engaged in a
nonexempt prohibited transaction described in Sections 406 of ERISA or 4975 of the Internal Revenue
Code or (b) has taken or failed to take any action which would constitute or result in a
Termination Event, other than a merger permitted under Section 9.09(b); (iii) no Borrower
nor any ERISA Affiliate has any potential liability under Sections 4063, 4064, 4069, 4204 or
4212(c) of ERISA; and (iv) no Borrower nor any ERISA Affiliate has incurred any liability to the
PBGC which remains

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outstanding other than the payment of premiums, and there are no premium payments which have become
due which are unpaid. Except as would not reasonably be expected to result in a Material Adverse
Effect, (i) Schedule S to the most recent annual report filed with the IRS with respect to each
Benefit Plan and furnished to the Administrative Agent is complete and accurate; and (ii) except as
identified on Schedule 6.01-P, since the date of each such Schedule S, there has been no
adverse change in the funding status or financial condition of the Benefit Plan relating to such
Schedule S. Except as would not reasonably be expected to result in a Material Adverse Effect, (i)
no Borrower nor any ERISA Affiliate has (a) failed to make a required contribution or payment to a
Multiemployer Plan; (b) made a complete or partial withdrawal under Sections 4203 or 4205 of ERISA
from a Multiemployer Plan or (c) failed to make a required installment or any other required
payment under Section 430 of the Internal Revenue Code on or before the due date for such
installment or other payment; and (ii) no Benefit Plan has failed to satisfy the requirements of
under Section 401(a)(29) of the Internal Revenue Code. Except as would not reasonably be expected
to result in a Material Adverse Effect, except as disclosed on Schedule 6.01-P, no Borrower
nor any Borrower Subsidiary has, by reason of the transactions contemplated hereby, any obligation
to make any payment to any employee pursuant to any Plan or existing contract or arrangement. Each
Borrower has given to the Administrative Agent copies of all of the following: each Benefit Plan
and related trust agreement (including all amendments to such Plan and trust) in existence or
committed to as of the date hereof and in respect of which any Borrower or any ERISA Affiliate is
currently an “employer” as defined in section 3(5) of ERISA, and the most recent actuarial report,
determination letter issued by the IRS and Form 5500 filed in respect of each such Benefit Plan in
existence; a listing of all of the Multiemployer Plans currently contributed to by any Borrower or
any ERISA Affiliate with the aggregate amount of the most recent annual contributions required to
be made by the Borrowers and all ERISA Affiliates to each such Multiemployer Plan, any information
which has been provided to any Borrower or an ERISA Affiliate regarding withdrawal liability under
any Multiemployer Plan and the collective bargaining agreement pursuant to which such contribution
is required to be made; and as to each employee welfare benefit plan within the meaning of Section
3(1) of ERISA which provides benefits to employees of any Borrower or any Borrower Subsidiary after
termination of employment other than as required by Section 601 of ERISA, the plan document (or, if
no plan document is available, a written description of the benefits provided under such plan), the
actuarial report for such plan (if any), the aggregate amount of the most recent annual payments
made to, or on behalf of, terminated employees under each such plan, and any information about
funding to provide for such welfare benefits.

          (q) Foreign Employee Benefit Matters. Each Foreign Employee Benefit Plan is in
compliance in all material respects with all laws, regulations and rules applicable thereto and the
respective requirements of the governing documents for such Plan. Each Foreign Employee Benefit
Plan intended to qualify for the most favorable tax and accounting treatment available in respect
of it is so qualified. With respect to any Foreign Pension Plan with a defined benefit element not
wholly covered by insurance maintained or contributed to by any Borrower or Borrower Subsidiary,
the most recent valuation for such plan has been disclosed. Contributions to such Foreign Pension
Plan are being made at the rate recommended by actuarial advice to eliminate any funding deficits
disclosed in such valuation over no more than a 14 year period. No Borrower or Borrower
Subsidiary, or trustee has taken nor will take any action which would materially increase any such
deficit, unless compelled to do so in compliance with applicable legislation. With respect to any
Foreign Employee Benefit Plan maintained or contributed to by any Borrower or any Borrower
Subsidiary (other than a Foreign Pension Plan), reasonable reserves have been established in
accordance with prudent business practice or where required by best accounting practices in the
jurisdiction in which such Plan is maintained having regard to tax legislation. The aggregate
unfunded liabilities, after giving effect to any reserves for such liabilities, with respect to
such Plans will not result in a material liability. There are no actions, suits or claims (other
than routine claims for benefits) pending or, to the best knowledge of the Borrowers, threatened
against any

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Borrower, any Borrower Subsidiary or any ERISA Affiliate with respect to any Foreign Employee
Benefit Plan.

          (r) Labor Matters.

     (i) Except as set forth in Schedule 6.01-R, there is no collective
bargaining agreement covering any of the employees of any Borrower or Borrower
Subsidiary. To each Borrower’s Knowledge, except as set forth on Schedule
6.01-R, no attempt to organize the employees of any Borrower or Borrower
Subsidiary is pending, threatened or planned.

     (ii) Set forth in Schedule 6.01-R or Schedule 6.01-P, as the
case may be, is a list, of all material consulting agreements, material executive
employment agreements, executive compensation plans, deferred compensation agreements,
employee pension plans or retirement plans, employee profit sharing plans, employee
stock purchase and stock option plans, and severance plans of NMHG Holding and its
Subsidiaries providing for benefits for employees of NMHG Holding and its
Subsidiaries.

          (s) Securities Activities. None of the Borrowers or Borrower Subsidiaries is engaged
in the business of extending credit for the purpose of purchasing or carrying Margin Stock.

          (t) Solvency.

     (i) After giving effect to (A) the issuance of any Indebtedness on any date, (B)
the making of any Restricted Payment or payment on any Permitted Term B Loan on any
date, (C) the sale of assets on any date and (D) the transactions contemplated by the
Loan Documents and the Loans to be made on any date that Loans are requested hereunder
and the disbursement of the proceeds of such Loans pursuant to the applicable
Borrower’s instructions, each Borrower and NMHG Holding together with its Subsidiaries
is Solvent.

     (ii) To the best knowledge of the UK Borrower, on each date on which Receivables
will be assigned by the Italian Receivables Seller to the UK Borrower under the terms
of the Receivables Sale Agreement between the Italian Receivables Seller and the UK
Borrower, the Italian Receivables Seller is generally able to pay its liabilities and
has sufficient assets to continue to carry on its business as conducted or proposed to
be conducted and the Italian Receivables Seller has not been declared bankrupt nor is
the subject of any other insolvency proceedings nor has any application for the
commencement of any such proceedings been filed against it. Notwithstanding
Section 14.14, this Section 6.01(t)(ii) will be construed in
accordance with the laws of the Republic of Italy.

          (u) Patents, Trademarks, Permits, Etc.; Government Approvals.

     (i) Each Borrower and Borrower Subsidiary owns, is licensed or otherwise has the
lawful right to use, or have all permits and other governmental approvals, patents,
trademarks, trade names, industrial designs, copyrights, technology, know-how and
processes used in or necessary for the conduct of its respective business as currently
conducted except where the failure to do so would not have or be reasonably likely to
have a Material Adverse Effect. Except as set forth on Schedule 6.01-U, no
claims are pending or, to the best of each Borrower’s Knowledge following inquiry,
threatened that any Borrower or any Borrower Subsidiary is infringing upon the rights
of any Person with respect to such permits and other governmental approvals, patents,
trademarks, trade

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names, industrial designs, copyrights, technology, know-how and processes, except for
such claims and infringements that do not, in the aggregate, give rise to any
liability on the part of any Borrower or any Borrower Subsidiary which has, or is
reasonably likely to, have a Material Adverse Effect.

     (ii) Except for Liens granted to the Administrative Agent for the benefit of the
Administrative Agent, the Issuing Banks and the Lenders, the transactions contemplated
by the Loan Documents will not impair the ownership of or rights under (or the license
or other right to use, as the case may be) any permits and governmental approvals,
patents, trademarks, trade names, industrial designs, copyrights, technology, know-how
or processes by any Borrower or Borrower Subsidiary in any manner which shall have or
is reasonably likely to have a Material Adverse Effect.

          (v) Assets and Properties. Each Borrower and each Borrower Subsidiary has good and
marketable title to all of the Collateral and all other material assets and Property (tangible and
intangible) owned by it (except insofar as marketability may be limited by any laws or regulations
of any Governmental Authority affecting such assets or by the existence of any Liens permitted
under Section 9.03), and all such assets and Property are free and clear of all Liens
except Liens securing the Obligations and Liens permitted under Section 9.03.
Substantially all of the material assets and Property owned by, leased to, or used by each Borrower
and/or each Borrower Subsidiary is in adequate operating condition and repair, ordinary wear and
tear excepted, is free and clear of any known defects except such defects as do not substantially
interfere with the continued use thereof in the conduct of normal operations, and is able to serve
the function for which they are currently being used, except in each case where the failure of such
asset to meet such requirements has not, or is not reasonably likely to have a Material Adverse
Effect. Neither this Agreement nor any other Loan Document, nor any transaction contemplated under
any such agreement, will affect any right, title or interest of any Borrower or any Borrower
Subsidiary in and to any of such assets in a manner that has, or is reasonably likely to have, a
Material Adverse Effect. Schedule 6.01-V contains a true and complete list of (i) all of
the Real Property owned in fee simple by each Credit Party, (ii) a true and complete list of all
Leases with annual rental payments which exceed $100,000 or with Inventory at any time with a Fair
Market Value of $1,000,000 or more, and (iii) a true and complete list of all bailees at which
there is, or is reasonably expected to be, (A) for a period of 30 days or more during any
twelve-month period, Inventory with a Fair Market Value of $250,000 or more or (B) at any time,
Inventory with a Fair Market Value of $1,000,000 or more.

          (w) Insurance. Schedule 6.01-W attached hereto accurately sets forth all
insurance policies and programs currently in effect with respect to the respective Property and
assets and business of the Borrowers and the Borrower Subsidiaries, specifying for each such policy
and program, (i) the amount thereof, (ii) the risks insured against thereby, (iii) the name of the
insurer and each insured party thereunder, (iv) the policy or other identification number thereof,
(v) the expiration date thereof, (vi) the annual premium with respect thereto, and (vii) a list of
claims in excess of $500,000 made thereunder during the immediately preceding three (3) calendar
years. Each Borrower has delivered to the Administrative Agent copies of all such insurance
policies. Such insurance policies and programs are currently in full force and effect, in
compliance with the requirements of Section 8.05 and are in amounts sufficient to cover the
replacement value of the respective Property and assets of the Borrowers and the Borrower
Subsidiaries.

          (x) Pledge of Collateral. The grant and perfection of the security interests in the
Capital Stock pledged pursuant to any Pledge Agreement, is not made in violation of the
registration provisions of the Securities Act, any applicable provisions of other federal
securities laws, state securities or “Blue Sky” law, foreign securities law, or applicable general
corporation law or in violation of any other Requirement of Law.

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          (y) Transactions with Affiliates. Schedule 6.01-Y lists each and every
existing material agreement (other than the Loan Documents) and arrangement that any Credit Party
has entered into with any of their respective Affiliates which are not Credit Parties.

          (z) Bank Accounts. Schedule 6.01-Z sets forth all of (i) the Collection
Account Banks and other bank accounts of the Credit Parties where proceeds of Collateral are from
time to time deposited by the Credit Parties, including the Lockboxes, the Collection Accounts and
the Disbursement Accounts, their addresses and the relevant account numbers, and (ii) the Cash
Collateral Accounts, and each Borrower has disclosed all additions, subtractions and modifications
to such Schedule to the Administrative Agent and the Lenders as required by Section 3.06.

          (aa) Indebtedness; Refinanced Indebtedness. Schedule 1.01.5 sets forth all
Indebtedness for borrowed money of each Borrower and Borrower Subsidiary, and there are no defaults
in the payment of principal or interest on any such Indebtedness and no payments thereunder have
been deferred or extended beyond their stated maturity (except as disclosed on such Schedule). The
Refinanced Indebtedness and all accrued and unpaid interest thereon has been paid in full or
provision for payment has been made such that, in accordance with the express provisions of the
instruments governing such Indebtedness, the Borrowers and all Borrower Subsidiaries have been or
will be upon payment in full of the Refinanced Indebtedness irrevocably released from all liability
and Contractual Obligations with respect thereto. All Liens, if any, securing the Refinanced
Indebtedness have been released.

          (bb) Tax Examinations. The IRS has examined (or is foreclosed from examining by
applicable statutes) the Parent’s consolidated federal income tax returns for all tax periods prior
to and including the taxable year ending December 31, 2006. All deficiencies which have been
asserted against or with respect to any Borrower or any Borrower Subsidiary as a result of any
federal, state, local or foreign tax examination for each taxable year in respect of which an
examination has been conducted have been fully paid or finally settled or are being contested in
good faith, and no issue has been raised in any such examination which, by application of similar
principles, reasonably can be expected to result in assertion of a material deficiency for any
other year not so examined which has not been reserved for in NMHG Holding’s consolidated Financial
Statements to the extent, if any, required by GAAP. No Borrower nor any Borrower Subsidiary has
taken any reporting positions for which it does not have a reasonable basis and does not anticipate
any further material tax liability with respect to the years which have not been closed pursuant to
applicable law.

          (cc) Compensation. Except (i) as disclosed in documents filed with the Securities and
Exchange Commission, (ii) as set forth on Schedule 6.01-CC attached hereto, and (iii) for
increases in the ordinary course of business and in accordance with past practices, no Borrower nor
any Borrower Subsidiary has increased or agreed to increase the aggregate compensation or benefits
(including severance benefits) payable or accruing to any past or present officer of any of such
Persons or Person having management responsibilities.

          (dd) Receivables Sale Agreements. Each of the Receivables Sale Agreements constitutes
a legal, valid and binding obligation of the parties thereto, enforceable against such parties in
accordance with its terms and is in full force and effect. All Receivables originated by the
Netherlands Borrowers have been sold and assigned to the UK Borrower and will be sold and assigned
to the UK Borrower on a daily basis. Since the effective date of the Receivables Sale Agreement
between the Italian Receivables Seller and the UK Borrower, all Receivables originated by the
Italian Receivables Seller have been sold and assigned to the UK Borrower and will be sold and
assigned to the UK Borrower on a daily basis. With respect to Receivables originated by the
Italian Receivables Seller, at any time that such
Receivables are included as Eligible Foreign Receivables, and, with respect to Receivables
originated by the Netherlands Borrowers, at all times, (A) all steps necessary to ensure that the
UK Borrower can

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exercise all of its rights under the Receivables transferred under the applicable Receivables
Sale Agreement directly against the relevant account debtors have been taken and (B) to the extent
required, the applicable Receivables Sale Agreement enables the UK Borrower and the Administrative
Agent to effect transfers of the bare legal title of any Receivables to the UK Borrower at agreed
times in the future.

          (ee) Certain Borrower Subsidiaries. None of the following Persons have, as of any
date of determination, total assets in excess of $5,000,000: Hyster Canada Limited, Hyster France
S.A.R.L., Hyster Germany GmbH, Hyster Italia S.R.L., Yale Fordertechnik Handelgesellschaft mbH, and
Yale France Manutention S.A.R.L. except to the extent the Capital Stock of such Borrower Subsidiary
has been pledged for the benefit of the Administrative Agent in accordance with Section
9.07(c) and such Borrower Subsidiary has provided the guarantees and security required under
Section 9.07(c).

          (ff) Anti-Terrorism Laws and Anti-Money Laundering Laws. None of the Borrowers and
Borrower Subsidiaries are, and after making due inquiry no Person who owns a controlling interest
in or otherwise controls any Borrower or Borrower Subsidiary is or shall be, (i) listed on the
Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets
Control (“OFAC”), Department of the Treasury, and/or on any other similar list
(collectively, the “Lists”) maintained by the OFAC pursuant to any authorizing statute,
Executive Order or regulation (collectively, “OFAC Laws and Regulations”); or (ii) a Person
(a “Designated Person”) either (A) included within the term “designated national” as
defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (B) designated under
Sections 1(a), 1(b), 1(c) or 1(d) of Executive Order No. 13224, 66 Fed. Reg. 49079 (published
September 25, 2001) or similarly designated under any related enabling legislation or any other
similar Executive Orders (collectively, the “Executive Orders”). None of the Borrowers and
Borrower Subsidiaries (x) is a Person or entity with which any Lender is prohibited from dealing or
otherwise engaging in any transaction by any Anti-Terrorism Law or (y) is a Person or entity that
commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive
Orders or (z) is affiliated or associated with a Person or entity listed in the preceding
clause (x) or clause (y). To the Knowledge of the Borrowers, no Borrower, Borrower
Subsidiary, any of their Affiliates, nor any brokers or other agents acting in any capacity in
connection with the Loans hereunder (I) deals in, or otherwise engages in any transaction relating
to, any property or interests in property blocked pursuant to the Executive Orders or (II) engages
in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading
or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law.

          (gg) No Violation of Anti-Money Laundering Laws. To each Borrower’s Knowledge no
Borrower, Borrower Subsidiary nor any holder of a direct or indirect interest in any Borrower or
Borrower Subsidiary (i) is under investigation by any governmental authority for, or has been
charged with, or convicted of, money laundering under 18 U.S.C. §§ 1956 and 1957, drug trafficking,
terrorist-related activities or other money laundering predicate crimes, or any violation of the
BSA, (ii) has been assessed civil penalties under any Anti-Money Laundering Laws, or (iii) has had
any of its funds seized or forfeited in an action under any Anti-Money Laundering Laws.

ARTICLE VII

REPORTING COVENANTS

          Each Borrower (other than the Multicurrency Borrowers which so covenant in favor of the
Multicurrency Lenders only with respect to themselves and their consolidated liabilities, assets,
business and operations) covenants and agrees that so long as any Commitment is outstanding and
thereafter until Payment In Full of all of the Obligations, unless the Requisite Lenders shall
otherwise give prior written consent thereto:

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          7.01. Financial Statements. Each Borrower shall maintain, and shall cause each
Borrower Subsidiary to maintain, a system of accounting established and administered in accordance
with sound business practices to permit preparation of consolidated and consolidating Financial
Statements in conformity with GAAP, and except with respect to Section 7.01(d), each of the
Financial Statements described below shall be prepared from such system and records. The Borrowers
shall deliver or cause to be delivered to the Administrative Agent and the Lenders:

          (a) Monthly Reports. Within thirty (30) days after the end of each fiscal month in
each Fiscal Year (other than each fiscal month which is the last month of any fiscal quarter or of
the Fiscal Year), the consolidated balance sheets of NMHG Holding and its Subsidiaries as at the
end of such period and the related consolidated statements of income and cash flow of NMHG Holding
and its Subsidiaries for such fiscal month and for the period from the beginning of the then
current Fiscal Year to the end of such fiscal month, and for the corresponding period during the
previous Fiscal Year, and a comparison of the statement of the year to date earnings and cash flow
to the corresponding statement for the corresponding period from the previous Fiscal Year, and the
forecasted consolidated balance sheet and consolidated statement of earnings and cash flow most
recently provided pursuant to Section 7.01(f), and a comparison of the statement of year to
date earnings and cash flow to the annual operating plan, certified by a Financial Officer of NMHG
Holding as fairly presenting in all material respects the consolidated financial position of NMHG
Holding and its Subsidiaries as at the dates indicated and the results of their operations and cash
flow for the periods indicated in accordance with GAAP, subject to normal year end adjustments.

          (b) Quarterly Reports. As soon as practicable, and in any event within forty-five
(45) days after the end of the first three fiscal quarters in each Fiscal Year:

     (i) the consolidated balance sheets of NMHG Holding and its Subsidiaries as at
the end of such period and the related consolidated statements of income, and cash
flow of NMHG Holding and its Subsidiaries for such fiscal quarter and for the period
from the beginning of the then current Fiscal Year to the end of such fiscal quarter,
setting forth in each case in comparative form, on a consolidated basis only, the
corresponding figures for the corresponding periods of the previous Fiscal Year and
the corresponding figures from the consolidated financial forecast for the current
Fiscal Year delivered on the Closing Date or pursuant to Section 7.01(f), as
applicable;

     (ii) the consolidating balance sheets of NMHG Holding, which includes the
wholesale and retail divisions of NMHG Holding and eliminations as at the end of such
period and the related consolidating statements of income and cash flow of NMHG
Holding, which includes the wholesale and retail divisions of NMHG Holding and
eliminations for such fiscal quarter and for the period from the beginning of the then
current Fiscal Year to the end of such fiscal quarter;

     (iii) the consolidated balance sheets of the UK Borrower as at the end of such
period and the related consolidated statements of income and cash flow of the UK
Borrower for such fiscal quarter and for the period from the beginning of the then
current Fiscal Year to the end of such fiscal quarter; and

     (iv) the consolidated balance sheets of each Netherlands Borrower and its
Subsidiaries as at the end of such period and the related consolidated statements of
income and cash flow of such Netherlands Borrower and its Subsidiaries for such fiscal
quarter and for the period from the beginning of the then current Fiscal Year to the
end of such fiscal quarter;

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in each case, certified by a Financial Officer of (x) with respect to clause (i) or
(ii) above, NMHG Holding, (y) with respect to clause (iii) above, NMHG Holding or
the UK Borrower, and (z) with respect to clause (iv) above, NMHG Holding or any Netherlands
Borrower, as fairly presenting the consolidated and consolidating (where applicable) financial
position of the reporting Persons as at the dates indicated and the results of their operations and
cash flow for the periods indicated in accordance with GAAP (with respect to the UK Borrower, any
Netherlands Borrower and/or their Subsidiaries, GAAP in the United Kingdom and the Netherlands,
respectively), subject to normal year end adjustments.

          (c) Annual Reports.

     (i) Within ninety (90) days after the end of each Fiscal Year:

(A) audited consolidated Financial Statements of NMHG Holding and its Subsidiaries
reported on by the Accounting Firm, which report shall be unqualified (or, if
qualified, only as to non-material matters) and shall state that such Financial
Statements fairly present the consolidated financial position of NMHG Holding and
its Subsidiaries as at the dates indicated and the results of their operations and
cash flow for the periods indicated in conformity with GAAP applied on a basis
consistent with prior years (except for changes with which such Accounting Firm
shall concur and which shall have been disclosed in the notes to the Financial
Statements) and that the examination by such Accounting Firm in connection with such
consolidated Financial Statements has been made in accordance with generally
accepted auditing standards, and

(B) the consolidating balance sheets of NMHG Holding, which includes the wholesale
and retail divisions of NMHG Holding and eliminations as at the end of such period
and the related consolidating statements of income and cash flow of NMHG Holding,
which includes the wholesale and retail divisions of NMHG Holding and eliminations
of NMHG Holding for such Fiscal Year;

     (ii) Within one hundred thirty-five (135) days after the end of each Fiscal
Year, the consolidated audited (by an Accounting Firm) balance sheets of the UK
Borrower as at the end of such period and the related audited (by an Accounting Firm)
consolidated statements of income and cash flow of the UK Borrower for such Fiscal
Year, which balance sheets and statements of income constitute the local statutory
reports;

     (iii) Within one hundred eighty (180) days after the end of each Fiscal Year,
the consolidated audited balance sheets of each Netherlands Borrower and its
Subsidiaries as at the end of such period and the related audited (by an Accounting
Firm) consolidated statements of income and cash flow of such Netherlands Borrower and
its Subsidiaries for such Fiscal Year, which balance sheets and statements of income
constitute the local statutory reports;

in each case, certified by a Financial Officer of NMHG Holding as fairly presenting the
consolidated and consolidating (where applicable) financial position of the reporting Persons as at
the dates indicated and the results of their operations and cash flow for the periods indicated in
accordance with GAAP (with respect to the UK Borrower, such Netherlands Borrower and/or their
Subsidiaries, GAAP in the United Kingdom and the Netherlands, respectively).

          (d) Parent Reports. The Parent’s annual report on Form 10-K and annual report to
shareholders (including audited financial statements).

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          (e) Officer’s Certificate. Together with each delivery of any Financial Statement
pursuant to (i) paragraphs (a), (b) and (c) of this Section 7.01,
an Officer’s Certificate of NMHG Holding, stating that the Financial Officer signatory thereto has
reviewed the terms of the Loan Documents, and has made, or caused to be made under his/her
supervision, a review in reasonable detail of the transactions and consolidated and consolidating
financial condition of NMHG Holding and its Subsidiaries during the accounting period covered by
such Financial Statements, that such review has not disclosed the existence during or at the end of
such accounting period, and that such Person does not have knowledge of the existence as at the
date of such Officer’s Certificate, of any condition or event which constitutes an Event of Default
or Default, or, if any such condition or event existed or exists, specifying the nature and period
of existence thereof and what action any Borrower or any Borrower Subsidiary has taken, is taking
and proposes to take with respect thereto; and (ii) paragraphs (b) and (c) of this
Section 7.01, a certificate (the “Compliance Certificate”), which shall be
substantially in the form of Exhibit T attached hereto, signed by a Financial
Officer of NMHG Holding, setting forth calculations (with such specificity as the Administrative
Agent may reasonably request) for the period then ended which demonstrate compliance, when
applicable, with the provisions of Article X and, when applicable, demonstrate (i) whether
the Applicable Fixed Rate Margin, the Applicable Floating Rate Margin, the Applicable Letter of
Credit Fee Rate, the Applicable Overdraft Rate Margin, and the Applicable Unused Commitment Fee
Rate are to be adjusted due to a change in the Average Quarterly Availability, (ii) Liquidity as of
the date of the Financial Statements delivered in connection with such Compliance certificate, (ii)
the Unrestricted Cash on Hand of all Borrowers and all Borrower Subsidiaries as of the date of such
Financial Statement, (iii) the Unrestricted Cash on Hand of all Domestic Credit Parties as of the
date of such Financial Statement and (iv) the Unrestricted Cash on Hand of all Multicurrency Credit
Parties as of the date of such Financial Statement.

          (f) Business Plans; Financial Projections. (i) Not later than March 31st of each
Fiscal Year, and containing substantially the same types of financial information contained in the
Initial Projections, the annual business plan for NMHG Holding and its Subsidiaries for such Fiscal
Year and for each month in such Fiscal Year, and (ii) not later than June 30th of each Fiscal Year,
the annual long-range business forecast of NMHG Holding and its Subsidiaries for each succeeding
Fiscal Year, up to and including the Fiscal Year during which it is anticipated that the
Obligations shall be Paid In Full, containing a consolidated balance sheet, income statement and
statement of cash flow.

          (g) Management Letter. Together with each delivery of the Financial Statements
referred to in Section 7.01(c), a copy of any management letter or any similar report
delivered to any Borrower by the Accountant in connection with such Financial Statements. The
Administrative Agent and each Lender may, with the written consent of any Borrower (which consent
shall not be unreasonably withheld or delayed), communicate directly with such accountants in the
presence of, or with the consent of, a Financial Officer of such Borrower or of NMHG Holding.

          7.02. Events of Default. Promptly upon any Borrower obtaining Knowledge (a) of any
condition or event which constitutes an Event of Default or Default, or becoming aware that any
Lender, any Issuing Bank or the Administrative Agent has given any written notice with respect to a
claimed Event of Default or Default, (b) that any Person has given any notice to any Borrower or
any Borrower Subsidiary or taken any other action with respect to a claimed default or event or
condition of the type referred to in Section 11.01(e), or (c) of any condition or event
which has or is reasonably likely to result in a Material Adverse Effect or affect the value of, or
the Administrative Agent’s interest in, the Collateral in any material respect, such Borrower shall
deliver to the Administrative Agent and the Lenders an Officer’s Certificate specifying (A) the
nature and period of existence of any such claimed default, Event of Default, Default, condition or
event, (B) the notice given or action taken by such Person

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in connection therewith, and (C) the
remedial action any Borrower or Borrower Subsidiary, as the case may be, has taken, is taking and
proposes to take with respect thereto.

          7.03. Lawsuits. Promptly upon (and, in any event, within ten (10) Business Days of)
any Borrower obtaining Knowledge of the institution of, or written threat of, any Claim, action,
suit, proceeding, governmental investigation, any allegation of defective pricing, or any
arbitration against or affecting any Borrower or any Borrower Subsidiary or any Property of any
Borrower or Borrower Subsidiary not previously disclosed pursuant to Section 6.01(i), which
action, suit, proceeding, governmental investigation or arbitration exposes, or in the case of
multiple actions, suits, proceedings, governmental investigations or arbitrations arising out of
the same general allegations or circumstances which expose, in such Borrower’s reasonable judgment,
any Borrower or Borrower Subsidiary (or the Borrowers and the Borrower Subsidiaries as a whole) to
liability which has or is reasonably likely to have a Material Adverse Effect, such Borrower shall
give written notice thereof to the Administrative Agent and the Lenders and provide such other
information as may be reasonably available to enable each Lender and the Administrative Agent and
its counsel to evaluate such matters. On the first Business Day of each fiscal quarter, the
Borrowers shall provide the Administrative Agent with a schedule identifying (a) any written threat
of, any Claim, action, suit, proceeding, governmental investigation, any allegation of defective
pricing, or any arbitration against or affecting any Borrower or any Borrower Subsidiary or any
Property of any Borrower or Borrower Subsidiary not previously disclosed pursuant to Section
6.01(i) or notified to the Administrative Agent in accordance with this Section 7.03,
which action, suit, proceeding, governmental investigation or arbitration exposes, or in the case
of multiple actions, suits, proceedings, governmental investigations or arbitrations arising out of
the same general allegations or circumstances which expose any Borrower or Borrower Subsidiary (or
the Borrowers and the Borrower Subsidiaries as a whole) to a liability in an amount aggregating
$3,000,000 or more (exclusive of claims covered by insurance policies of any Borrower or Borrower
Subsidiary unless the insurers of such claims have disclaimed coverage or reserved the right to
disclaim coverage on such claims) and (b) any commercial tort claim filed by any Domestic Credit
Party stating a claim of $1,000,000 or more, together with an addendum granting a security interest
in such claim as required by the Domestic Security Agreement.

          7.04. Insurance. The Borrowers shall deliver to the Administrative Agent as soon as
practicable and in any event (a) no later than April 1 in each calendar year, a report in the form
of Schedule 6.01-W or otherwise in form and substance reasonably satisfactory to the
Administrative Agent outlining all material insurance coverage (including any self insurance
provided by any Borrower, Parent or Borrower Subsidiary but excluding health, medical, dental and
life insurance (other than key man life insurance)) maintained as of the date of such report by any
Person on their behalf or on behalf of any Borrower Subsidiary and the duration of such coverage,
(b) no later than 10 Business Days after the renewal date of each policy (or the effective date of
any policy not in effect on the Closing Date) for which Required Evidence of Insurance is required
under Section 8.05, evidence satisfactory to the Administrative Agent that such policies
are in effect and showing the insurable interests of the Administrative Agent required by
Section 8.05 and (c) no later than 60 days after the renewal date of each policy for which
Required Evidence of Insurance is required under Section 8.05, the Required Evidence of
Insurance for such policy. The Borrowers shall notify the Administrative Agent of, and shall give
the Administrative Agent and its representatives access to copies of, any new, updated, renewed or
otherwise modified material insurance policies (excluding health, medical, dental and life
insurance (other than key man life insurance)). The Borrowers shall promptly notify the
Administrative Agent of the nonpayment of any premiums of any policy, cancellation of any policy or
alterations of any policy that are adverse to the interests of the Holders, in each case, with
respect to policies of insurance for which Required Evidence of Insurance is required hereunder.

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          7.05. Borrowing Base Certificate.

          (a) Monthly Delivery. At all times that (x) Excess Borrowing Base Capacity is greater
than an amount equal to forty percent (40%) of the Commitments then in effect (as determined by the
Administrative Agent based on the then most recent set of Borrowing Base Certificates delivered by
the Borrowers or, during the period from June 30 to October 31 in any Fiscal Year, based on
the better of the two most recent sets of Borrowing Base Certificates delivered by the Borrowers
and (y) addenda to Schedules 7.05-A and 7.05-B for the then current calendar year
are in effect pursuant to this Section 7.05(a), on each Business Day set forth on
Schedule 7.05-A with respect to the Domestic Borrowers and Schedule 7.05-B with
respect to the Multicurrency Borrowers (each, a “Monthly Borrowing Base Delivery Date”),
the Domestic Borrowers and the Multicurrency Borrowers shall each provide the Administrative Agent
with a Borrowing Base Certificate (which the Administrative Agent shall promptly deliver to each
Domestic Lender and each Multicurrency Lender, respectively), reporting Eligible Receivables and
Eligible Inventory as of the Business Day set forth on Schedule 7.05-A or Schedule
7.05-B, as applicable, for such Collateral and corresponding to the applicable Monthly
Borrowing Base Delivery Date, or, in each case, as of any other date requested by the
Administrative Agent in its sole discretion, together with such supporting documents as the
Administrative Agent requests, all with respect to the Domestic Facility certified as being true,
accurate and complete by a Financial Officer of the Domestic Borrowers, and all with respect to the
Multicurrency Facility certified as being true, accurate and complete by a Financial Officer of the
Multicurrency Borrowers. Not later than December 10 (or if such day is not a Business Day, on the
next succeeding Business Day) in each calendar year, the Borrowers shall deliver to the
Administrative Agent an addendum to each of Schedule 7.05-A and Schedule 7.05-B
showing the Monthly Borrowing Base Delivery Dates and reporting dates as to Eligible Receivables
and Eligible Inventory for the immediately following calendar year which addenda shall become
effective for such following calendar year upon the Administrative Agent’s approval thereof. Upon
approval of any such addenda the Administrative Agent shall promptly deliver such addenda to each
Lender.

          (b) Semi-Monthly Delivery. At all times that (x) Excess Borrowing Base Capacity is
greater than or equal to an amount equal to twenty percent (20%) of the Commitments then in effect
(as determined by the Administrative Agent based on the then most recent set of Borrowing Base
Certificates delivered by the Borrowers or, during the period from June 30 to October 31 in any
Fiscal Year, based on the better of the two most recent sets of Borrowing Base Certificates
delivered by the Borrowers), (y) addenda to Schedules 7.05-C and 7.05-D for the
then current calendar year are in effect pursuant to this Section 7.05(b) and (z) the
conditions for monthly reporting in Section 7.05(a) are not satisfied at such time, on each
Business Day set forth on Schedule 7.05-C with respect to the Domestic Borrowers and
Schedule 7.05-D with respect to the Multicurrency Borrowers (each, a
“Semi-Monthly Borrowing Base Delivery Date”), the Domestic Borrowers and the Multicurrency
Borrowers shall each provide the Administrative Agent with a Borrowing Base Certificate (which the
Administrative Agent shall promptly deliver to each Domestic Lender and each Multicurrency Lender,
respectively), reporting Eligible Receivables and Eligible Inventory as of the Business Day set
forth on Schedule 7.05-C or Schedule 7.05-D, as applicable, for such Collateral and
corresponding to the applicable Semi-Monthly Borrowing Base Delivery Date, or, in each case, as of
any other date requested by the Administrative Agent in its sole discretion, together with such
supporting documents as the Administrative Agent requests, all with respect to the Domestic
Facility certified as being true, accurate and complete by a Financial Officer of the Domestic
Borrowers, and all with respect to the Multicurrency Facility certified as being true, accurate and
complete by a Financial Officer of the Multicurrency Borrowers. Not later than December 10 (or if
such day is not a Business Day, on the next succeeding Business Day) in each calendar year, the
Borrowers shall deliver to the Administrative Agent an addendum to each of Schedule 7.05-C
and Schedule 7.05-D showing the Semi-Monthly Borrowing Base Delivery Dates and reporting
dates as to Eligible Receivables and Eligible Inventory for the immediately following calendar year
which addenda shall become effective for such following calendar year upon the Administrative
Agent’s approval 

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thereof. Upon approval of any such addenda the Administrative Agent shall
promptly deliver such addenda to each Lender.

          (c) Weekly Delivery. At all times that (x) Excess Borrowing Base Capacity is less
than an amount equal to twenty percent (20%) of the Commitments then in effect (as determined by
the Administrative Agent based on the then most recent set of Borrowing Base Certificates delivered
by the Borrowers or, during the period from June 30 to October 31 in any Fiscal Year, based on the
better of the two most recent sets of Borrowing Base Certificates delivered by the Borrowers) or
(y) the conditions for monthly and semi-monthly reporting in Sections 7.05(a) and
7.05(b), respectively, are not satisfied at such time, on each Wednesday (or if such day is
not a Business Day, on the next succeeding Business Day) or more frequently if requested by the
Administrative Agent in its sole discretion (each, a “Weekly Borrowing Base Delivery
Date”), the Domestic Borrowers and the Multicurrency Borrowers shall each provide the
Administrative Agent with a Borrowing Base Certificate (which the Administrative Agent shall
promptly deliver to each Domestic Lender and each Multicurrency Lender, respectively) reporting (i)
Eligible Receivables as of the last Business Day of the immediately preceding calendar week and
(ii) Eligible Inventory as of (A) the last Business Day of the second preceding calendar month on
any Weekly Borrowing Base Delivery Date on or prior to the fifteenth day of the calendar month and
(B) as of the last Business Day of the immediately preceding calendar month on any Weekly Borrowing
Base Delivery Date after the fifteenth day of the calendar month, or, in any case of clauses
(i) or (ii) above, as of any other date requested by the Administrative Agent in its
sole discretion, together with such supporting documents as the Administrative Agent requests, all
with respect to the Domestic Facility certified as being true, accurate and complete by a Financial
Officer of the Domestic Borrowers, and all with respect to the Multicurrency Facility certified as
being true, accurate and complete by a Financial Officer of the Multicurrency Borrowers.

          7.06. ERISA and Analogous Notices. Each Borrower shall deliver or cause to be
delivered to the Administrative Agent and the Lenders, at such Borrower’s expense, the following
information and notices as soon as reasonably possible, and in any event:

          (a) within ten (10) Business Days after any Borrower or any ERISA Affiliate knows or has
reason to know that a Termination Event has occurred, a written statement of a Financial Officer of
such Borrower describing such Termination Event and the action, if any, which such Borrower or any
ERISA Affiliate has taken, is taking or proposes to take with respect thereto, and when known, any
action taken or threatened by the IRS, DOL, PBGC or any analogous foreign Governmental Authority in
relation to Foreign Pension Benefit Plans with respect thereto;

          (b) within ten (10) Business Days after any Borrower or any Borrower Subsidiary knows or has
reason to know that a prohibited transaction defined in Section 406 of ERISA or Section 4975 of the
Internal Revenue Code has occurred with respect to any Plan, a statement of a Financial Officer of
such Borrower describing such transaction and the action which such Borrower or any ERISA Affiliate
has taken, is taking or proposes to take with respect thereto;

          (c) within ten (10) days after the filing of the same with the DOL, IRS or PBGC, copies of
each annual report (form 5500 series), including Schedule B thereto, filed with respect to each
Benefit Plan;

          (d) within ten (10) days after receipt by any Borrower or any ERISA Affiliate of each
actuarial report for any Benefit Plan or Multiemployer Plan and each annual report for any
Multiemployer Plan, copies of each such report;

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          (e) within ten (10) days after the filing of the same with the IRS, a copy of each funding
waiver request filed with respect to any Benefit Plan and all communications received by any
Borrower or any ERISA Affiliate with respect to such request;

          (f) within ten (10) days after the occurrence any material increase in the benefits of any
existing Benefit Plan or the establishment of any new Benefit Plan or the commencement of
contributions to any Benefit Plan to which any Borrower or any ERISA Affiliate was not previously
contributing, notification of such increase, establishment or commencement;

          (g) within ten (10) days after any Borrower or any ERISA Affiliate receives notice of the
PBGC’s intention to terminate a Benefit Plan or to have a trustee appointed to administer a Benefit
Plan, copies of each such notice;

          (h) within ten (10) days after any Borrower or any Borrower Subsidiary receives notice of any
unfavorable determination letter from the IRS regarding the qualification of a Plan under Section
401(a) of the Internal Revenue Code, copies of each such notice and letter;

          (i) within ten (10) days after any Borrower or any ERISA Affiliate receives notice from a
Multiemployer Plan regarding the imposition of withdrawal liability, copies of each such notice;

          (j) within ten (10) days after any Borrower or any ERISA Affiliate fails to make a required
installment or any other required payment under Section 412 or Section 430 of the Internal Revenue
Code on or before the due date for such installment or payment, a notification of such failure or
with respect to a Foreign Pension Plan, within three (3) Business Days after any Borrower or
Borrower Subsidiary fails to make a required installment or other payment in accordance with a
schedule of contributions, the terms of such Foreign Pension Plan or as otherwise required by a
foreign Governmental Authority;

          (k) within ten (10) days after any Borrower or any ERISA Affiliate knows (A) a Multiemployer
Plan has been terminated, (B) the administrator or plan sponsor of a Multiemployer Plan intends to
terminate a Multiemployer Plan, or (C) the PBGC has instituted or will institute proceedings under
Section 4042 of ERISA to terminate a Multiemployer Plan;

          (l) within ten (10) Business Days after any Borrower receives written notice from the
Administrative Agent requesting the same, copies of any Foreign Employee Benefit Plan and related
documents, reports and correspondence specified in such notice;

          (m) within ten (10) Business Days after any Borrower or any Borrower Subsidiary knows or has
reason to know of the adoption of any new employee welfare benefit plan within the meaning of
Section 3(1) of ERISA that provides group health or life insurance benefits, and which provides
benefits to employees after termination of employment other than as required by Section 601 of
ERISA, a copy of such plan and a description of the projected benefit obligations thereunder;

          (n) within ten (10) days Business Days after receipt by any Borrower or Borrower Subsidiary of
any valuation report for any Foreign Pension Plan with a defined benefit element not wholly covered
by insurance maintained or contributed to by any Borrower or Borrower Subsidiary, a copy of such
report;

          (o) within ten (10) days Business Days after the adoption of a new collective bargaining
agreement covering any employees of any Borrower or Borrower Subsidiary, a copy thereof; and

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          (p) within ten (10) days Business Days after any Borrower or any Borrower Subsidiary knows or
has reason to know of the adoption of any new agreement listed in Section 6.01(r)(ii), a
copy thereof and a description of the projected liabilities thereunder.

For purposes of this Section 7.06, each Borrower and any ERISA Affiliate shall be deemed to
know all facts known by the Administrator of any Plan of which any Borrower or any ERISA Affiliate
is the plan sponsor.

          7.07. Environmental Notices.

          (a) Each Borrower shall notify the Administrative Agent and the Lenders in writing, promptly
upon such Borrower’s learning thereof, of any:

     (i) notice or Claim to the effect that any Borrower or any Borrower Subsidiary
is or may be liable to any Person as a result of exposure to or the Release or
threatened Release of any Contaminant, which liability is reasonably likely to result
in an expenditure by any Borrower or Borrower Subsidiary of over $1,000,000 in any
Fiscal Year;

     (ii) notice that any Borrower or any Borrower Subsidiary is subject to
investigation by any Governmental Authority evaluating whether any Remedial Action is
needed to respond to the Release or threatened Release of any Contaminant into the
environment which investigation is reasonably likely to result in an expenditure by
any Borrower or Borrower Subsidiary of over $1,000,000 in any Fiscal Year;

     (iii) notice that any Property is subject to an Environmental Lien;

     (iv) notice to any Borrower or any Borrower Subsidiary of any violation of any
Environmental, Health or Safety Requirement of Law, except for such violations or
Claims as are not reasonably likely to result in a Material Adverse Effect;

     (v) condition, practice or circumstance reasonably likely to result in a
violation of any Environmental, Health or Safety Requirement of Law or a Claim by any
Person under any Environmental, Health or Safety Requirement of Law, except for such
violations as are not reasonably likely to result in a Material Adverse Effect;

     (vi) commencement or threat of any judicial or administrative proceeding
alleging a violation by any Borrower or any Borrower Subsidiary of any Environmental,
Health or Safety Requirement of Law, except for such violations as are not reasonably
likely to result in a Material Adverse Effect;

     (vii) new or proposed changes to any existing Environmental, Health or Safety
Requirement of Law that are reasonably likely to result in a Material Adverse Effect;

     (viii) any proposed acquisition of stock, assets, real estate, or leasing of
property, or any other similar action by any Borrower or any Borrower Subsidiary that
is reasonably likely to subject any Borrower or any Borrower Subsidiary to additional
environmental, health or safety Liabilities and Costs of over $1,000,000 in any Fiscal
Year; or

     (ix) any filing or report made by any Borrower or any Borrower Subsidiary with
any Person or Governmental Authority with respect to any unpermitted Release or

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threatened Release of a Contaminant, which Release or threatened Release is reasonably
likely to result in an expenditure of over $1,000,000 in any Fiscal Year.

          (b) Within forty-five (45) days after the end of each Fiscal Year, each Borrower shall submit
to the Administrative Agent and the Lenders a report summarizing the status of environmental, health or safety compliance, hazard or liability issues identified in notices required
pursuant to Section 7.07(a), disclosed on Schedule 6.01-O or identified in any
notice or report required herein.

          7.08. Labor Matters. A Borrower shall notify the Administrative Agent and the Lenders
in writing, promptly after any Borrower has Knowledge thereof, of (i) any material labor dispute to
which any Borrower or Borrower Subsidiary is or may become a party, including, without limitation,
any strikes, lockouts or other disputes relating to such Persons’ plants and other facilities and
(ii) any liability in excess of $3,000,000 (arising pursuant to the Worker Adjustment and
Retraining Notification Act or otherwise) incurred with respect to the closing of any plant or
other facility of such Persons.

          7.09. Public Filings and Reports. Promptly upon the filing
thereof with the Securities and Exchange Commission, NMHG shall deliver to the Administrative Agent
and the Lenders copies of all filings or reports made in connection with outstanding Indebtedness
and Capital Stock of any Borrower or of the Parent provided that to the extent the items listed
above are published to the website of the Borrower or of the Parent or to the website of the
Securities and Exchange Commission (in any case, free of charge and without any password
protection), such items shall be deemed delivered.

          7.10. Bank Account Information. Promptly upon receipt of a request therefor from the
Administrative Agent, the Credit Parties shall provide to the Administrative Agent and the Lenders
copies of bank statements (covering the period of time requested by the Administrative Agent) with
respect to any bank accounts then maintained by any Borrower or any Borrower Subsidiary.

          7.11. Permitted Term B Loans; Debt. NMHG Holding shall deliver a copy to the
Administrative Agent and the Lenders of (a) any material notice or other material communication
delivered by or on behalf of any Borrower to any Person in connection with any material agreement
or other document relating to the Permitted Term B Loans at the same time and by the same means as
such notice or other communication is delivered to such Person, (b) any notice or other material
communication received by any Borrower from any Person alleging the occurrence in connection with
any Indebtedness described in Section 11.01(e) of an event described in such Section,
promptly after such notice or other communication is received by the Borrower and (c) if the
Existing Term Loans are repaid, a copy of any payoff or termination letter executed in connection
therewith.

          7.12. Other Reports. The Borrowers shall deliver or cause to be delivered to the
Administrative Agent and the Lenders copies of all Financial Statements, material reports and
material notices (such as Form 10-Q’s, Form 10-K’s and other material filings), if any, sent or
made available generally by any Borrower or the Parent to its Securities holders or filed with the
Securities and Exchange Commission and all press releases made available generally by any Borrower,
the Parent or any Borrower Subsidiary to the public concerning material developments in the
business of any Borrower, the Parent or any Borrower Subsidiary, and all notifications received by
any Borrower, the Parent or any Borrower Subsidiary pursuant to the Securities Exchange Act and the
rules promulgated thereunder.

          7.13. Other Information. Promptly upon receipt of a request therefor from the
Administrative Agent, the Borrowers shall prepare and deliver to the Administrative Agent and the
Lenders such other information with respect to any Borrower, the Parent or any Borrower Subsidiary
or the Collateral including, without limitation, schedules identifying and describing the
Collateral and any dispositions thereof and copies of each existing written agreement or
arrangement set forth on Schedule 6.01-Y, as from time to time may be reasonably requested
by the Administrative Agent.

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          7.14. Solvency of Italian Receivables Seller. Each Borrower shall notify the
Administrative Agent and the Lenders in writing promptly upon such Borrower’s learning that any
representation and warranty given by the UK Borrower in Section 6.01(t)(ii) is false
or misleading in any respect.

          7.15. Anti-Terrorism and Anti-Money Laundering Law Notices. Each Borrower shall
immediately notify the Administrative Agent if such Person obtains Knowledge that any holder of a
direct or indirect interest in any Borrower or Borrower Subsidiary, or any director, manager or
officer of any of such holder, (a) has been listed on any of the Lists, (b) has become a Designated
Person, (c) is under investigation by any governmental authority for, or has been charged with or
convicted of, money laundering drug trafficking, terrorist-related activities or other money
laundering predicate crimes, or any violation of the BSA, (d) has been assessed civil penalties
under any Anti-Money Laundering Laws, or (e) has had funds seized or forfeited in an action under
any Anti-Money Laundering Laws.

          7.16. Update of Certain Schedules. If any of the information or disclosures provided
on any of Schedules 6.01-A, 6.01-C, 6.01-P, 6.01-R, 6.01-V, 6.01-W, 6.01-Y, 6.01-Z or
6.01-CC, attached hereto as of the Closing Date become outdated or incorrect in any material
respect, the Borrowers shall deliver to the Administrative Agent and the Lenders as part of the
Compliance Certificate required pursuant to Section 7.01(e)(ii) (or more frequently in the
Borrowers’ reasonable judgment or upon the request of the Administrative Agent) such revision or
updates to such Schedule(s) as may be necessary or appropriate to update or correct such
Schedule(s), which revisions shall be effective from the date accepted in writing by the
Administrative Agent, such acceptance not to be unreasonably withheld; provided, that (i)
no such revisions or updates to any such Schedule(s) shall be deemed to have cured any breach of
warranty or misrepresentation occurring prior to the delivery of such revision or update by reason
of the inaccuracy or incompleteness of any such Schedule(s) at the time such warranty or
representation previously was made or deemed to be made and (ii) such Schedule(s) may only be
updated to the extent that such related actions disclosed are otherwise not prohibited by the
Credit Agreement and other Loan Documents prior to such Schedule being revised or updated (for
example, without limitation, Schedule 6.01-A may only be modified to reflect events not
prohibited by Section 9.13, Schedule 6.01-Z may only be modified as permitted by
Section 3.06).

ARTICLE VIII

AFFIRMATIVE COVENANTS

          Each of the Borrowers (other than the Multicurrency Borrowers which so covenant in favor of
the Multicurrency Lenders only with respect to themselves and their consolidated liabilities,
assets, business and operations) covenants and agrees that so long as any Commitment is outstanding
and thereafter until Payment In Full of all of the Obligations, unless the Requisite Lenders shall
otherwise give prior written consent.

          8.01. Organizational Existence, Etc. Except as permitted under Section 9.09
each Borrower shall, and shall cause each Borrower Subsidiary to, at all times maintain its
respective organizational existence and preserve and keep, or cause to be preserved and kept, in
full force and effect its rights and franchises material to its business except where the failure
to so maintain or preserve would not have or be reasonably be likely to have a Material Adverse
Effect.

          8.02. Organizational Powers; Conduct of Business, Etc. Each Borrower shall, and shall
cause each Borrower Subsidiary to, qualify and remain qualified to do business and maintain its
good standing in each jurisdiction in which the nature of its business and the ownership of its
Property requires it to be so qualified and in good standing except where the failure to qualify or
remain qualified would not have or be reasonably be likely to have a Material Adverse Effect.

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          8.03. Compliance with Laws, Etc. Each Borrower shall and shall cause each Borrower
Subsidiary to, (a) comply with all Requirements of Law and all restrictive covenants affecting such
Person or the business, Property, assets or operations of such Person, and (b) obtain as needed all
Permits necessary for such Person’s operations and maintain such Permits in good standing, except,
in each case, where the failure to do is not reasonably likely to result in a Material Adverse
Effect.

          8.04. Payment of Taxes and Claims; Tax Consolidation. Each Borrower shall, and shall
cause each Borrower Subsidiary to, pay (a) all taxes, assessments and other governmental charges
less than or equal to $2,000,000 imposed upon it or on any of its Property or assets or in respect
of any of its franchises, business, income or Property within five days upon Knowledge that a
penalty or interest has accrued thereon, and (b) all Claims (including, without limitation, claims
for labor, services, materials and supplies) for sums less than or equal to $2,000,000 which have
become due and payable and which by law have or may become a Lien (other than a Lien permitted by
Section 9.03) upon any of any Borrower’s or Borrower Subsidiary’s Property or assets,
within fifteen days upon Knowledge that any penalty or fine has accrued with respect thereto. Each
Borrower shall, and shall cause each Borrower Subsidiary to, pay (a) on the day when due, all
taxes, assessments and other governmental charges greater than $2,000,000 imposed upon it or on any
of its Property or assets or in respect of any of its franchises, business, income or Property, and
(b) all Claims (including, without limitation, claims for labor, services, materials and supplies)
for sums greater than $2,000,000 which have become due and payable and which by law have or may
become a Lien (other than a Lien permitted by Section 9.03) upon any of any Borrower’s or
Borrower Subsidiary’s Property or assets. Notwithstanding the preceding sentences, any Borrower or
Borrower Subsidiary shall have the right to contest in good faith the validity or amount of any
such taxes or claims by proper proceedings timely instituted, and may permit the taxes or claims to
be contested to remain unpaid during the period of such contest if (i) it diligently prosecutes
such contest, (ii) it makes adequate provision in conformity with GAAP with respect to the
contested items, and (iii) during the period of such contest, the enforcement and ability of any
taxing authority to force payment of any contested item or to impose a Lien (other than any
Customary Permitted Lien as defined in clause (a) of the definition thereof) with respect
thereto is effectively stayed.

          8.05. Insurance. Each Borrower shall maintain for itself and its Subsidiaries, or
shall cause each of its Subsidiaries to maintain in full force and effect the insurance policies
and programs listed on Schedule 6.01-W or substantially similar policies and programs or
other policies and programs as are acceptable to the Administrative Agent; provided, that at any
time but no more than once in any Fiscal Year unless an Event of Default has occurred and is
continuing, the Administrative Agent may engage (at the Borrowers’ expense) a third-party insurance
consultant to examine, review and appraise the insurance policies and programs maintained by the
Borrowers and their Subsidiaries, and to the extent deemed reasonably necessary by the
Administrative Agent (taking into account, among other things, the cost of such additional coverage
and the risks insured against by such additional coverage), require the Borrowers to modify the
insurance policies and programs currently in place or, in the event that any insurer is rated less
than A-, VII by A.M. Best (or an equivalent rating by another insurance rating company reasonably
satisfactory to the Administrative Agent), replace the insurance policies and programs provided by
such insurer. Each policy relating to (a) the Collateral and/or business interruption coverage for
any Credit Party shall be properly endorsed to the Administrative Agent, in form and substance
acceptable to the Administrative Agent, showing loss payable to the Administrative Agent, for the
benefit of the Holders and (b) subject to the terms and conditions of the Term B Loan Documents and
the Term B Loan Intercreditor Agreement, coverage for any Credit Party other than the foregoing,
unless otherwise permitted by the Administrative Agent, shall contain an endorsement naming the
Administrative Agent as an additional insured under such policy, in each case in form and substance
acceptable to the Administrative Agent (collectively, the “Required Evidence of Insurance”)
and delivered to the Administrative Agent in accordance with Section 7.04. Such Required
Evidence of

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Insurance furnished to the Administrative Agent shall provide, unless otherwise
permitted by the
Administrative Agent in its sole discretion, that the insurance companies will give the
Administrative Agent at least ten (10) days’ prior written notice of any cancellation due to
nonpayment of premiums thereunder and at least thirty (30) days’ prior written notice before any
such policy or policies of insurance shall be altered adversely to the interests of the Holders or
otherwise cancelled and that no act, whether willful or negligent, or default of any Borrower,
Borrower Subsidiary or other Person shall affect the right of the Administrative Agent to recover
under such policy or policies of insurance in case of loss or damage. In the event any Borrower or
Borrower Subsidiary, at any time or times hereafter shall fail to obtain or maintain any of the
policies or insurance required herein or to pay any premium in whole or in part relating thereto,
then the Administrative Agent, without waiving or releasing any obligations or resulting Event of
Default hereunder, may at any time or times thereafter (but shall be under no obligation to do so)
obtain and maintain such policies of insurance and pay such premiums and take any other action with
respect thereto which the Administrative Agent deems advisable. All sums so disbursed by the
Administrative Agent shall constitute Protective Advances hereunder and be part of the Obligations,
payable as provided in this Agreement.

          8.06. Inspection of Property; Books and Records; Discussions.

          (a) Each Borrower shall, and shall cause each of its Subsidiaries to, permit any authorized
representative(s) designated by the Administrative Agent to visit and inspect, whether by access to
such Borrower’s and its Subsidiaries’ MIS or otherwise, any of the Property, to examine, audit,
check and make copies of its respective financial and accounting records, books, journals, orders,
receipts and any correspondence (other than privileged correspondence with legal counsel) and other
data relating to their respective businesses or the transactions contemplated hereby or referenced
herein (including, without limitation, in connection with environmental compliance, hazard or
liability), and to discuss their affairs, finances and accounts with their officers, management
personnel, and independent certified public accountants (in the presence, or with the consent of, a
Financial Officer of such Borrower or NMHG), all upon reasonable written notice and at such
reasonable times during normal business hours, as often as may be reasonably requested. Each such
visitation and inspection shall be at such Borrower’s expense provided, however, that Collateral
field examinations at the Borrowers’ expense may be conducted no more frequently than (i)
quarterly, if Excess Borrowing Base Capacity is less than an amount equal to twenty percent (20%)
of the Commitments then in effect (as determined by the Administrative Agent based on the then most
recent set of Borrowing Base Certificates delivered by the Borrowers or, during the period from
June 30 to October 31 in any Fiscal Year, based on the better of the two most recent sets of
Borrowing Base Certificates delivered by the Borrowers); (ii) semi-annually, if Excess Borrowing
Base Capacity is greater than or equal to an amount equal to twenty percent (20%), but less than or
equal to forty percent (40%), of the Commitments then in effect (as determined by the
Administrative Agent based on the then most recent set of Borrowing Base Certificates delivered by
the Borrowers or, during the period from June 30 to October 31 in any Fiscal Year, based on the
better of the two most recent sets of Borrowing Base Certificates delivered by the Borrowers);
(iii) annually, if Excess Borrowing Base Capacity is greater than an amount equal to forty percent
(40%) of the Commitments then in effect (as determined by the Administrative Agent based on the
then most recent set of Borrowing Base Certificates delivered by the Borrowers or, during the
period from June 30 to October 31 in any Fiscal Year, based on the better of the two most recent
sets of Borrowing Base Certificates delivered by the Borrowers); or (iv) at any time an Event of
Default has occurred and is continuing.

          (b) Each Borrower shall keep and maintain, and cause each of its Subsidiaries to keep and
maintain, in all material respects on its MIS and otherwise proper books of record and account in
which entries in conformity with GAAP shall be made of all dealings and transactions in relation to
its respective businesses and activities, including, without limitation, transactions and other
dealings with

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respect to the Collateral. If an Event of Default has occurred and is continuing,
each Borrower, upon the Administrative Agent’s request, shall, and shall cause each of its
Subsidiaries to, turn over any such
records to the Administrative Agent or its representatives; provided, however, that each
Borrower may, in its discretion, retain copies of such records.

          (c) Each Borrower will, at all times, mark the original copy of all chattel paper with a
legend describing the Administrative Agent’s security interest therein and shall take all other
actions required by the applicable Security Agreements with respect to chattel paper, and each
Borrower will hold in trust and safely keep such chattel paper so legended at locations which are
either (i) owned by a Borrower or (ii) leased by a Borrower and with respect to which a Collateral
Access Agreement has been executed.

          8.07. ERISA Compliance. Each Borrower shall, and shall cause each of its Subsidiaries
to, and shall use its best efforts to cause its ERISA Affiliates who are not Borrower Subsidiaries
to, establish, maintain and operate all Plans to comply in all material respects with the
provisions of ERISA, the Internal Revenue Code, all other applicable laws, and the regulations and
interpretations thereunder and the respective requirements of the governing documents for such
Plans.

          8.08. Foreign Employee Benefit Plan Compliance. Each Borrower shall, and shall cause
each of its Subsidiaries to, establish, maintain and operate all Foreign Employee Benefit Plans to
comply in all material respects with all laws, regulations and rules applicable thereto and the
respective requirements of the governing documents for such Plans.

          8.09. Maintenance of Property. Each Borrower shall, and shall cause each of its
Subsidiaries to, maintain in all material respects all of its respective owned and leased Property
in good, safe and insurable condition and repair, ordinary wear and tear excepted, and not permit,
commit or suffer any waste or abandonment of any such Property and from time to time shall make or
cause to be made all material repairs, renewal and replacements thereof, including, without
limitation, any capital improvements which may be required; provided, however, that such Property
may be altered or renovated in the ordinary course of such Borrower’s or its Subsidiaries’
business.

          8.10. Further Assurances; Additional Collateral.

          (a) Each Borrower shall execute and deliver, and cause the Borrower Subsidiaries to execute
and deliver, within the time periods set forth with respect to such items on the Closing List, all
agreements, documents and instruments designated as “post-closing items” on the Closing List. In
the event that any such agreement, document or instrument is not delivered within such time
periods, in addition to any other remedies provided hereunder or under the Loan Documents, the
value of Collateral subject to such agreement, document or instrument, if any, shall be deemed to
be zero or, if such Collateral does not otherwise have value for purposes of calculating the
Domestic Borrowing Base or the Multicurrency Borrowing Base, the Administrative Agent shall have
the right to establish appropriate Availability Reserves based on the value of such Collateral,
until such agreements, documents and instruments with respect thereto are executed and delivered.

          (b) In addition to and not in lieu of the rights and obligations of the parties under
clause (a) above, in the event that any jurisdiction where account debtors of the UK
Borrower are located (each, a “Foreign Account Debtor”) becomes a jurisdiction where the
aggregate amount owing by Foreign Account Debtors in such jurisdiction is in excess of $1,000,000
and with respect to which Receivables would be given eligibility pursuant to clauses (i)
and (ii) of the defined term “Eligible Foreign Receivable” (each, a “Material Foreign
Account Debtor Jurisdiction”), the UK Borrower shall cause to be issued, within 45 days after
the date on which a jurisdiction becomes a Material Foreign Account Debtor

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Jurisdiction, an opinion
of counsel, addressed to the Administrative Agent, the Lenders and the Issuing Banks, in form and
substance reasonably satisfactory to the Administrative Agent and, without limiting
the generality of the foregoing, concluding that, under the laws of the Material Foreign
Account Debtor Jurisdiction, (i) the courts of the Material Foreign Account Debtor Jurisdiction
would recognize the stated choice of law governing the Receivables (being Netherlands law, English
law, and, if Receivables governed by Italian law are then included, Italian law) owing from the
Foreign Account Debtors in such Material Foreign Account Debtor Jurisdiction; (ii) a judgment under
or in respect of such Receivables obtained in the courts of the jurisdiction whose law governs the
Receivables would be enforced in the Material Foreign Account Debtor Jurisdiction; (iii) if such
Receivables have been sold to the UK Borrower by the Netherlands Borrowers, and, if applicable, by
NACCO Materials Handling S.R.L. pursuant to a Receivables Sale Agreement, such sale, and the stated
choice of Dutch law under a Receivables Sale Agreement, or, in the case of sales by NACCO Materials
Handling S.R.L., Italian law, would be recognized under the laws of the Material Foreign Account
Debtor Jurisdiction (assuming that the same constituted a valid sale under Dutch, or, as the case
may be, Italian, law and assuming that the notice of the sale required by the Receivables Sale
Agreement had been given to the Foreign Account Debtor); and (iv) if the Administrative Agent so
requires legal opinions of counsel in the relevant Material Foreign Account Debtor Jurisdiction as
enables the Administrative Agent to assess the level of risk of the Liens granted over the
Receivables (under English, Dutch, or as applicable, the Dutch law governed Foreign Security
Agreement granted by the UK Borrower or, if applicable, any Italian law governed Foreign Security
Agreement granted by the UK Borrower): (A) not being recognized or upheld under the laws of the
relevant Material Foreign Account Debtor Jurisdiction; and (B) in consequence thereof being
successfully challenged by a trustee in bankruptcy, liquidator or similar officer of the UK
Borrower under the laws of the relevant Foreign Debtor Jurisdiction, the Administrative Agent has
concluded that the level or risk is acceptable to it (collectively, the “Required Cross-Border
Opinions”). In addition, within 90 days after the date on which a jurisdiction becomes a
Material Foreign Account Debtor Jurisdiction, (x) the UK Borrower shall form a Receivables
Subsidiary, and the Multicurrency Borrowers (and any other Borrower Subsidiary party to a
Receivables Sale Agreement) shall thereafter transfer all Receivables owing from account debtors
located in such Material Foreign Account Debtor Jurisdiction to the Receivables Subsidiary and (y)
the Receivables Subsidiary shall become a Multicurrency Borrower, and the Receivables Subsidiary,
the UK Borrower, the Netherlands Borrowers, the other Credit Parties and such other Borrower
Subsidiary shall enter into amendments to this Agreement and the other Loan Documents, or other
agreements, documents and instruments, in each case as the Administrative Agent may reasonably
request, to permit the transactions among the Receivables Subsidiary, the UK Borrower the
Netherlands Borrowers and such other Borrower Subsidiary, to reflect the Receivables Subsidiary as
a Multicurrency Borrower hereunder and to grant to the Administrative Agent a Lien on all Property
(other than Equipment, fixtures and Real Property) of the Receivables Subsidiary.

          (c) In addition to and not in lieu of the rights and obligations of the parties under
clauses (a) and (b) above, at any time and from time to time, (i) promptly
following the Administrative Agent’s written request and at the expense of the applicable Person,
each Borrower agrees to duly execute and deliver, and to cause its Subsidiaries to duly execute and
deliver, any and all such further instruments and documents and take such further action as the
Administrative Agent may reasonably deem desirable in order to perfect and protect any Lien granted
or purported to be granted pursuant to the Loan Documents or to enable the Administrative Agent, in
accordance with the terms of the applicable Loan Documents, to exercise and enforce its rights and
remedies under the Loan Documents with respect to such Collateral and (ii) promptly upon the
request of the Administrative Agent, assign to the Administrative Agent, pursuant to an assignment
in form and substance satisfactory to the Administrative Agent, the right to receive proceeds (for
application to the Obligations in accordance with this Agreement) of any Interest Rate Contracts,
Currency Agreement or Commodity Agreements to which any Credit Party is a party. Notwithstanding
the foregoing, the granting of such further assurances or security

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interest under this Section
8.10 shall not be required if it would (A) be prohibited by other Contractual Obligations to
which such Borrower or such Subsidiary is a party, (B) be prohibited by applicable law, or (C)
result in material adverse tax consequences to any Borrower.

          (d) In addition to and not in lieu of the rights and obligations of the parties under clauses
(a), (b) and (c) above, promptly, but in any event within 90 days, following the Administrative
Agent’s written request (or such later date as is agreed to in writing by the Administrative
Agent), and at the expense of the applicable Borrower or Subsidiary thereof, each Borrower agrees
to duly execute and deliver, and to cause its Subsidiaries to duly execute and deliver, in form and
substance reasonably satisfactory to the Administrative Agent, any and all such further instruments
and documents, including, without limitation, all amendments, modifications, supplements,
restatements or reaffirmations of any existing instruments or documents, in each case as are
reasonably requested by the Administrative Agent in order to create and/or maintain a valid and
perfected security interest of the Administrative Agent in any Foreign Collateral.

          8.11. Landlord and Bailee Waivers.

          (a) The Borrowers shall provide the Administrative Agent with written supplements to
Schedule 6.01-V as necessary to give a true representation and warranty in Section
6.01(v), and the Borrowers shall obtain and deliver, and cause the Credit Parties to obtain and
deliver, to the Administrative Agent Collateral Access Agreements relating to each location so
listed from time to time on Schedule 6.01-V. With respect to any location not listed on
Schedule 6.01-V in which there is, or is reasonably expected to be, during any period of
thirty days or more, Inventory with a Fair Market Value of $250,000 or more, each Borrower shall
use, and shall cause the Credit Parties to use, its best efforts to obtain and deliver to the
Administrative Agent Collateral Access Agreements.

          (b) Each Borrower shall use, and shall cause the Credit Parties to use, its best efforts to
obtain and deliver to the Administrative Agent Collateral Access Agreements with respect to all
leased Properties in which there is, or is reasonably expect to be, Inventory with a Fair Market
Value of $1,000,000 or more.

          8.12. Environmental Compliance.

          (a) Each Borrower and each Borrower Subsidiary shall comply with all Environmental, Health or
Safety Requirements of Law in all material respects.

          (b) Each Borrower shall obtain as needed all material Permits necessary for their operations,
and shall maintain such Permits in good standing.

          8.13. Insurance and Condemnation Proceeds.

          (a) Direction to Insurers. Subject to terms and conditions of the Term B Loan
Documents and the Term B Loan Intercreditor Agreement, each Borrower hereby directs (and, if
applicable, shall cause its Subsidiaries to direct) all insurers under policies of Property damage,
boiler and machinery and business interruption insurance and payors of any condemnation claim or
award relating to the Property to pay all proceeds payable under such policies or with respect to
such claim or award directly to the Administrative Agent for deposit in the Domestic Concentration
Account or applicable Cash Collateral Account, as appropriate.

          (b) Application of Proceeds. In the event proceeds of insurance received by the
Administrative Agent under property damage, boiler and machinery policies, business interruption

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insurance policies, or with respect to a condemnation claim or award exceed $500,000 and do not
constitute Replacement Proceeds, the Administrative Agent shall, upon receipt of such proceeds,
apply all of the proceeds so received in repayment of the Obligations in the manner set forth in
Section 3.01(b)(iii). Notwithstanding the foregoing, in the event proceeds of insurance
received by the Administrative Agent
under property damage, boiler and machinery policies or business interruption insurance
policies (i) is less than $500,000 or (ii) constitutes Replacement Proceeds, Administrative Agent
shall, upon receipt of such proceeds, remit the amount so received to the applicable Borrower or
Borrower Subsidiary; provided, however, in the case of proceeds of insurance received by the
Administrative Agent under property damage, boiler and machinery policies or business interruption
insurance policies in an amount greater than $500,000, if (i) the Administrative Agent receives
notice from the applicable Borrower that it or its Subsidiary, as applicable, does not intend to
restore, rebuild or replace the Property subject to such insurance payment or condemnation award,
(ii) the applicable Borrower or its applicable Subsidiary fails to replace or commence the
restoration or rebuilding of such Property within one year after the Administrative Agent’s
receipt of the proceeds of such insurance payment or condemnation award, or (iii) upon completion
of the restoration, rebuilding or replacement of such Property, the unused proceeds from such
insurance payment or condemnation award exceed $500,000, then (x) upon the occurrence of either of
the events described in clauses (i) or (ii) above, all such proceeds, and (y) upon
the occurrence of the event described in clauses (iii) above, such excess, shall constitute
Net Cash Proceeds of Sale received by a Borrower or a Subsidiary of a Borrower and shall be applied
to the Obligations pursuant to the terms of Section 3.01(b)(iii).

          8.14. Compliance with Anti-Money Laundering Laws and Anti-Terrorism Laws. Each
Borrower and Borrower Subsidiary has taken, and agrees that it shall continue to take, reasonable
measures (including, without limitation, the adoption of adequate policies, procedures and internal
controls) appropriate to the circumstances (in any event as required by applicable Requirements of
Law), to ensure that such Person is and shall be in compliance with all current and future
Anti-Money Laundering Laws and Anti-Terrorism Laws and applicable Requirements of Law and
governmental guidance for the prevention of terrorism, terrorist financing and drug trafficking.

          8.15. Appraisals. Upon the Administrative Agent’s request from time to time, the
Borrowers shall permit and enable the Administrative Agent to obtain appraisals in form and
substance and from appraisers reasonably satisfactory to Administrative Agent stating the then net
orderly liquidation value, or such other value as determined by the Administrative Agent, of all or
any portion of the Inventory of the Credit Parties; provided, that notwithstanding any
provision herein to the contrary, the Borrowers shall only be obligated to reimburse the
Administrative Agent for the expenses of such appraisals occurring once every twelve months (or
more frequently so long as an Event of Default has occurred and is continuing).

ARTICLE IX

NEGATIVE COVENANTS

          Each of the Borrowers (other than the Multicurrency Borrowers which so covenant in favor of
the Multicurrency Lenders only with respect to themselves and their consolidated liabilities,
assets, business and operations) covenants and agrees that it shall comply with the following
covenants so long as any Commitment is outstanding and thereafter until Payment In Full of all of
the Obligations, unless (except as otherwise provided below) the Requisite Lenders shall otherwise
give prior written consent thereto:

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          9.01. Indebtedness. No Borrower shall, or shall permit any Borrower Subsidiary to,
directly or indirectly create, incur, assume or otherwise become or remain directly or indirectly
liable with respect to any Indebtedness, except:

          (a) the Obligations;

          (b) Indebtedness for trade payables, wages and other accrued expenses incurred in the ordinary
course of business;

          (c) Permitted Existing Indebtedness and any extensions, renewals, refundings or replacements
of such Indebtedness, provided that any such extension, renewal, refunding or replacement is in an
aggregate principal amount not greater than the principal amount of, and, taken as a whole is on
terms no less favorable to such Borrower or such Subsidiary than the terms of, such Permitted
Existing Indebtedness so extended, renewed, refunded or replaced;

          (d) (i) Indebtedness under Capital Leases and Indebtedness secured by purchase money Liens
(including the interest of a lessor under a Capital Lease and Liens to which any Property is
subject at the time of such Borrower’s or Borrower Subsidiary’s purchase thereof) (“Purchase
Money Liens”) securing a principal amount not to exceed, together with the amounts permitted
under clause (ii) below, $35,000,000 in the aggregate at any time or from time to time
outstanding so long as each Purchase Money Lien shall attach only to the Property to be acquired or
constructed and any sale or insurance proceeds thereof (but excluding rental contracts covering
such property or any proceeds thereof), (ii) Capital Leases and purchase money Indebtedness
incurred to finance the acquisition of fixed assets, the outstanding principal amount of which in
the aggregate and when aggregated with the amount of Indebtedness permitted under clause
(i) above does not exceed $35,000,000 at any time, (iii) Indebtedness under Capital Leases
entered into pursuant to a Lease Finance Transaction or with respect to rental equipment, whether
or not reflected on the balance sheet of the applicable Borrower or Borrower Subsidiary as
Inventory, collectively securing an aggregate principal amount not to exceed $45,000,000 at any
time; and (iv) any refinancing of such Indebtedness so long as (A) any Liens granted in connection
with such Indebtedness shall only attach to the same Property formerly subject to the Purchase
Money Lien and any sale or insurance proceeds thereof (but excluding rental contracts covering such
Property or any proceeds thereof), (B) the aggregate principal amount of the Indebtedness so
refinanced shall not be increased, (C) the Indebtedness is incurred for the same purpose as the
Indebtedness so refinanced and (D) the refinancing shall be on terms and conditions no more
restrictive than the terms and conditions of the Indebtedness so refinanced; provided, however, the
aggregate outstanding principal amount of Indebtedness permitted under this clause (d)
shall at no time exceed $70,000,000.

          (e) Indebtedness in respect of taxes, assessments, governmental charges and Claims for labor,
materials or supplies, to the extent that payment thereof is not required pursuant to Section
8.04;

          (f) Indebtedness constituting Investments permitted by Section 9.04 or Accommodation
Obligations permitted by Section 9.05;

          (g) Indebtedness arising from unsecured intercompany loans (i) from any Credit Party to any
other Credit Party, (ii) from any Borrower Subsidiary not a Credit Party to any Credit Party or
Pledged Entity, (iii) among Borrower Subsidiaries that are not Credit Parties or Pledged Entities,
(iv) among Pledged Entities, or (v) from any Credit Party or Pledged Entity to any Borrower
Subsidiary that is not a Credit Party or Pledged Entity not to exceed, with Investments permitted
under Sections 9.04(e)(v) and Accommodation Obligations permitted under Section
9.05(f)(v) but without duplication, $60,500,000 in principal amount outstanding at any time;
provided, that all such loans specified in clauses (i) and (v) (with respect to
loans by a Credit Party only) shall be evidenced by promissory notes and pledged to the

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Administrative Agent pursuant to a Pledge Agreement; provided, further that no additional loans
described in clauses (i) through (v) shall be permitted after the occurrence and during the
continuance of an Event of Default;

          (h) Indebtedness of any Borrower arising pursuant to Interest Rate Contracts entered into in
the ordinary course of business for non-speculative purposes or otherwise reasonably acceptable to
the Administrative Agent;

          (i) Indebtedness of any Borrower arising pursuant to Currency Agreements entered into in the
ordinary course of business for non-speculative purposes or otherwise reasonably acceptable to the
Administrative Agent;

          (j) Indebtedness of any Borrower arising pursuant to Commodity Agreements entered into in the
ordinary course of business for non-speculative purposes or otherwise reasonably acceptable to the
Administrative Agent;

          (k) Indebtedness with respect to customary warranties and indemnities made under (i) any
agreements for asset sales permitted under Section 9.02, (ii) Contractual Obligations of
any Borrower or any Borrower Subsidiary entered into in the ordinary course of its business, or
(iii) the payment of the Refinanced Indebtedness owing to Bank of Scotland;

          (l) (i) Indebtedness with respect to the Australian Credit Facility, and (ii) Indebtedness
with respect to any working capital facility guaranteed pursuant to the Foreign Working Capital
Guaranty;

          (m) [Intentionally Omitted];

          (n) Indebtedness arising from the honoring by a bank or other financial institution of a
check, draft or similar instrument drawn against insufficient funds in the ordinary course of
business; provided, however, that such Indebtedness is extinguished within five Business Days of
its incurrence;

          (o) unsecured Indebtedness in respect of obligations owed to an Affiliate of the Parent (other
than a Borrower or Borrower Subsidiary) approved by the Administrative Agent and created in
connection with the transfer of accrued liabilities of the Borrowers and the Borrower Subsidiaries
in respect of transferred self-insured risk to the extent such self-insurance is permitted under
Section 8.05;

          (p) unsecured Indebtedness pursuant to the ING Working Capital Line;

          (q) Parent Subordinated Indebtedness;

          (r) Indebtedness evidenced by Permitted Term B Loans;

          (s) Indebtedness arising from unsecured Indebtedness arising from unsecured intercompany loans
borrowed for the use in any Credit Party or Borrower Subsidiary’s business and operations in the
People’s Republic of China not to exceed, with Investments permitted under Section 9.04(j),
$12,000,000 in principal amount outstanding at any time; and

          (t) Indebtedness arising under any receivables factoring, discounting facility or receivables
assignment facility by any Foreign Subsidiary that is not a Borrower in an aggregate amount not to
exceed $10,000,000 outstanding at any time; and

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          (u) in addition to the Indebtedness permitted by clauses (a) through (t)
above, other unsecured Indebtedness, in an aggregate principal amount not to exceed $15,000,000 at
any time outstanding;

provided, however, that further incurrences of the Indebtedness described in clauses (d),
(g) and (q) above shall be prohibited if either (A) a Default or an Event of
Default shall have occurred and be continuing at the time of such incurrence or would result
therefrom or (B) such Indebtedness is prohibited under the terms of any Indebtedness of any
Borrower or Borrower Subsidiary.

          9.02. Sales of Assets. No Borrower shall, or shall permit any Borrower Subsidiary to,
sell, assign, transfer, lease, convey or otherwise dispose of any Property, whether now owned or
hereafter acquired, or any income or profits therefrom, or enter into any agreement to do so,
except:

          (a) the sale of Inventory in the ordinary course of business (including sales of such Property
among any of the Borrowers and the Borrower Subsidiaries);

          (b) the sale of Property for consideration not less than the Fair Market Value thereof and (i)
with respect to sales not covered by clauses (ii) through (v) below, having an
aggregate Fair Market Value not in excess of $15,000,000 in any twelve consecutive month period;
(ii) in connection with the closure or relocation of any facilities; (iii) such sale is of the
assets or the Capital Stock of the Australian Subsidiaries or the NMHG Mauritius Entities; (iv)
such sale is of the assets or Capital Stock of any Distribution Subsidiary; or (v) plants and/or
Property described on Schedule 9.02-B; provided, however, that (w) none of
the Property subject to sales permitted by clauses (i), (ii) or (v) above
shall constitute Collateral, (x) any non-cash consideration resulting from such sale (which shall
be limited to not more than twenty-five percent (25.0%) of the total consideration for such sale)
shall, to the extent received by a Credit Party, be pledged or assigned to the Administrative Agent
pursuant to the applicable Security Documents to which it is a party, (y) such Borrower complies
with the mandatory prepayment provisions set forth in Section 3.01(b) and the conditions to
the release of Collateral described in Section 12.09(c) and (z) before and after giving
effect to such sale, no Default or Event of Default shall have occurred and be continuing;

          (c) the transfer of Property from any Borrower Subsidiary to any Credit Party, among any of
the Credit Parties, or among any Borrower Subsidiaries not constituting Credit Parties, in each
case, otherwise in accordance with the Loan Documents;

          (d) the sale of Investments in Cash Equivalents permitted pursuant to Section 9.04(a);

          (e) (i) sales of Inventory by the Italian Receivables Seller to the UK Borrower pursuant to
any agreement in form and substance satisfactory to the Administrative Agent, and sales of
Receivables by the Italian Receivables Seller to the UK Borrower pursuant to the applicable
Receivables Sale Agreement and (ii) sales and assignments of Receivables by the Netherlands
Borrowers to the UK Borrower pursuant to the applicable Receivables Sale Agreement; provided, that,
with respect to Receivables or Inventory originated by the Italian Receivables Seller, at any time
that such Receivables or Inventory, as applicable, are included as Eligible Foreign Receivables or
Eligible Foreign Inventory, as applicable, and, with respect to Receivables originated by the
Netherlands Borrowers, at all times, all actions under all applicable Requirements of Law required
to perfect the UK Borrower’s ownership of such Receivables and Inventory, as applicable, shall have
been taken; and (ii) sales and assignments of Receivables by the Netherlands Borrowers to the UK
Borrower pursuant to the Receivables Sale Agreements, provided, that all actions under the
applicable Requirements of Law required to perfect the UK Borrower’s ownership of such Receivables
and Inventory, if applicable, shall have been taken;

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          (f) the sale of Property permitted pursuant to Section 9.10 or in connection with
transactions permitted in Section 9.09;

          (g) the sale of accounts receivable and related assets under any receivables factoring,
discounting facility or receivables assignment facility by any Foreign Subsidiary that is not a
borrower in an aggregate amount not to exceed $10,000,000 outstanding at any time; and

          (h) additional dispositions of Property other than Inventory and Receivables of the Credit
Parties which may be approved by the Administrative Agent in its sole discretion and which result
in Net Cash Proceeds of Sale of not more than $5,000,000 in the aggregate and $2,000,000 in any
Fiscal Year.

          9.03. Liens. No Borrower shall, or shall permit any Borrower Subsidiary to, directly
or indirectly create, incur, assume or permit to exist any Lien on or with respect to any of their
respective Property or assets (including the Capital Stock of each Borrower Subsidiary) except:

          (a) Liens created by the Loan Documents;

          (b) Permitted Existing Liens;

          (c) Customary Permitted Liens;

          (d) Purchase Money Liens and Liens securing Indebtedness permitted by Section 9.01(d),
provided, that such Purchase Money Liens and other Liens are created within 90 days after the
incurrence of the related Indebtedness;

          (e) extensions, renewals, refundings and replacements of Liens referred to in clauses
(a) and (b) of this Section 9.03; provided that any such extension, renewal,
refunding or replacement of a Lien referred to in clause (b) shall be limited to the
Property covered by the Lien extended, renewed, refunded or replaced and that the obligations
secured by any such extension, renewal, refunding or replacement Lien shall be in an amount not
greater than the amount of the obligations then secured by the Lien extended, renewed, refunded or
replaced;

          (f) certain statutory and contractual rights of retention on the Inventory of the
Multicurrency Borrowers and their Subsidiaries located outside of the United States which are
subordinate to the Administrative Agent’s security interest therein;

          (g) Liens arising from judgments, decrees or attachments under circumstances that do not
otherwise result in an Event of Default;

          (h) Liens arising from precautionary UCC-1 financing statement filings regarding Operating
Leases covering only the Property subject thereto;

          (i) any Lien approved by the Administrative Agent in connection with an Acquisition permitted
under Section 9.04(f) on or affecting any Property (other than Capital Stock) acquired by a
Borrower or a Borrower Subsidiary or Property of any acquired Borrower Subsidiary or Person which
becomes a Borrower Subsidiary after the date of this Agreement; provided, that (i) such
Lien is created prior to the date on which such Person becomes a Borrower Subsidiary, (ii) the Lien
was not created in contemplation of such Acquisition, (iii) such Lien secures Indebtedness
permitted hereunder and the principal amount thereof has not increased in contemplation of or since
such 

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Acquisition and (iv) such Lien is removed or discharged within ninety (90) days of such
Property being acquired or such Person becoming a Borrower Subsidiary, as the case may be;

          (j) Liens upon cash or Cash Equivalents securing obligations owing by a Borrower or a Borrower
Subsidiary to the Administrative Agent, a Lender or an Affiliate thereof that arise as a result of
the termination of an Interest Rate Contract permitted hereunder to which a Borrower or a Borrower
Subsidiary, as applicable, and the Administrative Agent, a Lender, or an Affiliate thereof, as
applicable, were subject; provided, that the Administrative Agent, the Lender or the
Affiliate thereof, as applicable, that is the counterparty under such Interest Rate Contract shall
determine in its reasonable judgment such termination amount; provided, further,
that such Lien shall run solely for the benefit of the Administrative Agent, the Lender or the
Affiliate thereof, as applicable; and

          (k) Liens securing Indebtedness evidenced by Permitted Term B Loans; provided that (i)
the holders of such Permitted Term B Loans shall only be permitted hereunder to have a first
priority Lien on that portion of the Borrower’s and the Borrower’s Subsidiaries’ assets
constituting real estate located in the United States of America, fixtures, improvements thereon,
and equipment and the proceeds of any of the foregoing that do not constitute and are not required
to constitute Collateral under the terms of the Loan Documents, and (ii) the holders of such
Permitted Term B Loans shall only be permitted hereunder to have a second priority Lien on that
portion of the Borrower’s and the Borrower’s Subsidiaries’ assets constituting Collateral or
required to constitute Collateral under the terms of the Loan Documents if such holders and such
Lien are subject to an intercreditor agreement, at the time such Lien is granted, with the
Administrative Agent for the benefit of the Lenders that is in form and substance acceptable to the
Administrative Agent.

          9.04. Investments. No Borrower shall, or shall permit any Borrower Subsidiary to,
purchase, hold or acquire (including pursuant to any merger with any Person that was not a
wholly-owned Borrower Subsidiary prior to such merger) any capital stock, evidences of indebtedness
or other securities (including any option, warrant or other right to acquire any of the foregoing)
of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or
permit to exist any investment or any other interest in, any other Person, or purchase or otherwise
acquire (in one transaction or a series of transactions) any Person or any assets of any other
Person constituting a business unit (any of the foregoing, an “Investment”), except:

          (a) Investments in cash and Cash Equivalents (including, without limitation, Cash Collateral):

     (i) pledged to the Administrative Agent or deposited in the Lockboxes, the
Collection Accounts and the Cash Collateral Accounts in accordance with the provisions
of this Agreement and the other Loan Documents; and

     (ii) on deposit in the Disbursement Accounts or other operating or payroll
accounts of the Borrower; provided, that the aggregate amount in the Disbursement
Accounts identified on Schedule 9.04 on an overnight basis shall not exceed
for any consecutive two Business Days, $20,000,000; provided further, that the
aggregate amount in such other disbursement or other accounts (excluding payroll
accounts and bank errors) on an overnight basis shall not exceed at any time
$25,000,000;

          (b) Permitted Existing Investments;

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          (c) Investments received in connection with the bankruptcy or reorganization of suppliers and
customers and in settlement of delinquent obligations of, and other disputes with, customers and
suppliers arising in the ordinary course of business;

          (d) Investments in the form of advances to employees in the ordinary course of business for
moving, relocation and travel expenses; and other loans to employees for any lawful purpose,
provided that (i) each loan permitted under this clause (d) shall be evidenced by a
promissory note and (ii) the aggregate principal amount of all such advances and loans at any time
outstanding shall not exceed $1,500,000 and (iii) no such advances or loans outstanding at any time
to any one Person shall exceed $500,000;

          (e) (i) Investments by Credit Parties in other Credit Parties, (ii) Investments by Borrower
Subsidiaries that are not Credit Parties in Pledged Entities or Credit Parties, (iii) Investments
by Pledged Entities in other Pledged Entities, (iv) Investments among Borrower Subsidiaries that
are not Credit Parties or Pledged Entities, (v) Investments by Credit Parties and Pledged Entities
in Borrower Subsidiaries that are not Credit Parties or Pledged Entities which, with Indebtedness
permitted pursuant to Section 9.01(g)(v) and Accommodation Obligations permitted pursuant
to Section 9.05(f)(v) but without duplication, does not exceed $60,500,000, (vi)
Investments by Credit Parties or Pledged Entities in Borrower Subsidiaries or Pledged Entities that
are not Credit Parties so long as: (A) each of (x) the Liquidity Condition and (y) the Credit Party
Liquidity Condition is satisfied both immediately before and after giving pro forma effect to such
transaction; or (B) the aggregate amount of such Investments from and after the Closing Date does
not exceed $20,000,000; and (vii) Investments in entities that are not a Borrower or Borrower
Subsidiaries so long as (A) the Liquidity Condition is satisfied both immediately before and after
giving pro forma effect to such transaction; and (B) the aggregate amount of such Investments from
and after the Closing Date does not exceed $30,000,000;

          (f) Investments in connection with the merger with, consolidation with, or acquisition of all
or substantially all of the assets or Capital Stock of, or any other combination with or
acquisition of any other Person (each a “Acquisition”) so long as at the time and after
giving effect to the Acquisition:

     (i) the Administrative Agent has received at least thirty (30) Business Days’
prior written notice of such Acquisition;

     (ii) unless the assets or Person to be acquired (x) is in a similar line of
business to that of any Borrower or (y) is vertically integrated in a line of business
of any Borrower, the Administrative Agent shall have consented to such Acquisition
prior to the consummation thereof;

     (iii) unless the Liquidity Condition is satisfied both immediately before and
after giving pro forma effect to such Acquisition, the purchase price payable in cash
and non-cash consideration does not exceed $5,000,000 in any one Acquisition or
$15,000,000 in the aggregate in any Fiscal Year;

     (iv) unless the Liquidity Condition is satisfied both immediately before and
after giving pro forma effect to such Acquisition, both before and after giving effect
to such Acquisition, aggregate Availability under the Credit Facilities will be in
excess of $35,000,000;

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     (v) no Default or Event of Default has occurred and is continuing or would
result after giving effect to such Acquisition, (v) to the extent applicable, the
requirements of Section 9.07 and Section 9.09 have been satisfied;

     (vi) to the extent any Lien is required pursuant to Section 9.07, the
Administrative Agent has been granted such a first priority secured Lien (subject only
to Customary Permitted Liens and Liens permitted pursuant to Section 9.03(i)) in all
Property (other than Property excluded from the definition of Collateral) acquired in
such Acquisition, and the Borrowers and the target of such Acquisition shall have
executed all documents and taken all actions as may be required by the Administrative
Agent in connection therewith;

     (vii) the board of directors of the target of such Acquisition shall have
approved such Acquisition and such Acquisition shall otherwise be consensual;

     (viii) the Indebtedness acquired in connection with such Acquisition, if any, is
otherwise permitted pursuant to Section 9.01; and

     (ix) the Borrowers shall have delivered all financial reports and other
documents requested by the Administrative Agent in connection with such Acquisition;

provided, that any Inventory or Receivables acquired in connection with such Acquisition
shall not constitute Eligible Inventory or Eligible Receivables until the Administrative
Agent has received an audit (and, if requested by the Administrative Agent in its sole
discretion, an appraisal) reasonably satisfactory to the Administrative Agent and has
otherwise approved such Property for inclusion in Eligible Inventory or Eligible
Receivables, as applicable;

          (g) Investments permitted in connection with Accommodation Obligations permitted under
Section 9.05(e);

          (h) Investments in Securities received as consideration in a sale of Property pursuant to
Section 9.02(b), subject to the limitation on the amount of non-cash consideration that may
be received in connection with such sale as set forth in clause (x) of the proviso to such
Section 9.02(b); and

          (i) [Intentionally Omitted];

          (j) Investments in the business and operations of the Credit Parties and Borrower Subsidiaries
in the People’s Republic of China not to exceed, with Indebtedness permitted under Section
9.01(s), $12,000,000.

          9.05. Accommodation Obligations. No Borrower shall or shall permit any of its
Subsidiaries to directly or indirectly create or become or be liable with respect to any
Accommodation Obligation, except:

          (a) recourse obligations resulting from endorsement of negotiable instruments for collection
in the ordinary course of its business;

          (b) (i) Permitted Existing Accommodation Obligations and any extensions, renewals or
replacements thereof, provided that the aggregate Indebtedness under any such extension, renewal or
replacement is not greater than the Indebtedness under, and shall be on terms no less favorable to
the Borrowers or such Subsidiary than the terms of, the Permitted Existing Accommodation Obligation
so extended, renewed or replaced; and (ii) Accommodation Obligations evidenced by Financing
Agreements 

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of the type described in clause (c)  of the definition thereof, and any renewal,
amendment, restatement or replacement thereof permitted by the definition thereof;

          (c) Accommodation Obligations (i) arising under the Loan Documents, (ii) with respect to the
Indebtedness permitted under Sections 9.01(d) so long as such Accommodation Obligations are
unsecured and the remedies thereunder only arise after a default has occurred or is continuing
under such related Indebtedness or (iii) otherwise in respect of the Indebtedness permitted under
Section 9.01(a), (h), (i) or (q);

          (d) [Intentionally Omitted];

          (e) Accommodation Obligations of the Credit Parties with respect to Lift Truck Financing
Guarantees;

          (f) Accommodation Obligations (i) of Credit Parties with respect to Indebtedness of Credit
Parties; (ii) of Borrower Subsidiaries not constituting Credit Parties with respect to Indebtedness
of Credit Parties or Pledged Entities; (iii) of Pledged Entities with respect to Indebtedness of
Pledged Entities; (iv) of Borrower Subsidiaries not constituting Credit Parties with respect to
Indebtedness of Borrower Subsidiaries not constituting Credit Parties; and (v) of Credit Parties
with respect to Indebtedness of Borrower Subsidiaries not constituting Credit Parties in an
aggregate amount, together with Indebtedness permitted pursuant to Section 9.01(g)(v) and
Investments permitted pursuant to Sections 9.04(e)(v) but without duplication, not to
exceed $60,500,000;

          (g) Parent Subordinated Indebtedness;

          (h) Accommodation Obligations of the Borrower or any Subsidiary thereof in respect of
Permitted Term B Loans; and

          (i) in addition to the Accommodation Obligations permitted by clauses (a) through
(h) above, other unsecured Accommodation Obligations in an aggregate amount not to exceed
$16,500,000 at any time outstanding.

          9.06. Restricted Payments.

          (a) Restriction on Dividends. Neither NMHG Holding, Hyster-Yale nor NMHG may make any
cash dividend or other distribution, direct or indirect, on account of any shares of, or interests
in, any class of Capital Stock of such Person (a “Dividend”), except NMHG Holding,
Hyster-Yale and NMHG may make Dividends in any Fiscal Year in an aggregate amount (without
duplicating Dividends made by NMHG to Hyster-Yale and subsequently made by Hyster-Yale to NMHG
Holding) not to exceed (i) $5,000,000 in respect of any Fiscal Year (other than during the time
period from the Closing Date until the end of the 2010 Fiscal Year in which no additional Dividends
are permitted), so long as after giving effect to such Dividend, aggregate Availability will be in
excess of $50,000,000, and prior to a Restructuring, no Bankruptcy Event with respect to the Parent
has occurred and is continuing plus (ii) fifty percent (50%) of an amount equal to (x)
Consolidated Net Income for the immediately preceding Fiscal Year less (y) $10,000,000, so
long as after giving effect to such Dividend, the outstanding principal amount of Loans is equal to
or less than Unrestricted Cash On Hand; provided, that no Dividend shall be permitted in each case
of clause (i) and (ii), if (A) a Default or Event of Default has occurred or is
continuing, or after giving effect to such Dividend, a Default or Event of Default would occur or
be continuing, or (B) as of the end of the most recent fiscal quarter, the Leverage Ratio is
greater than 3.0 to 1.0.

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          (b) Other Restricted Payments. Except as set forth in Section 9.06(a) above,
no Borrower shall or shall permit any Borrower Subsidiary to otherwise declare or make any
Restricted Payment, except:

     (i) prepayments, redemptions and/or purchases, as applicable, of all or any
portion of the Permitted Term B Loans, so long as after giving effect to any such
prepayment, redemption or purchase, Availability under all Credit Facilities is greater than
or equal to $40,000,000;

     (ii) cash dividends on the Capital Stock of any Borrower to any other Borrower
paid and declared in any Fiscal Year;

     (iii) dividends or distributions to the Parent consistent with past practices
(A) to pay franchise taxes and other amounts allocable to such Borrower or Borrower
Subsidiary required by the Parent to maintain its organizational existence, (B) to pay
for all operating and overhead expenses of the Parent allocable to such Borrower or
Borrower Subsidiary (including, without limitation, salaries and other compensation of
employees, and directors’ fees and expenses) incurred by the Parent in the ordinary
course of its business, (C) to pay the Parent fees for services provided by the Parent
to such Borrower or Borrower Subsidiary that would otherwise have been performed by
third parties and (D) to reimburse the Parent for the payment of amounts relating to
travel and entertainment expenses and legal, consulting, software, accounting and
other similar services provided by third parties on any Borrower or Borrower
Subsidiary’s behalf; provided, however, that such aggregate dividends or other
distributions by all Borrowers and Borrower Subsidiaries pursuant to clause
(B) of this Section 9.06(b)(iii) shall not exceed in any Fiscal Year an
aggregate of $5,000,000;

     (iv) payments or repayments of advances to the Parent pursuant to the Tax
Sharing Agreement to the extent consistent with past practices;

     (v) cash dividends (or other distributions) paid solely to a Borrower or
Borrower Subsidiary by any of such Person’s Subsidiaries;

     (vi) payments of intercompany Indebtedness (A) by any Borrower Subsidiary (other
than a Borrower) to any Credit Party, (B) by any Borrower Subsidiary (other than a
Credit Party) to any other Borrower Subsidiary, and (C) by any Credit Party to any
Borrower Subsidiary, in each case, to the extent such Indebtedness is permitted by
Section 9.01(g) and 9.01(o);

     (vii) payments of Indebtedness permitted by Section 9.01(p); and

     (viii) payments of principal and interest by the Borrowers and Borrower
Subsidiaries with respect to Parent Subordinated Indebtedness so long as after giving
effect to any such payment, Liquidity is greater than or equal to $30,000,000;

provided, however, that the Restricted Payments described in clauses (i)(B),
(iii)(B), (vi)(C), and (vii) above shall not be permitted if either (A) a
Default or an Event of Default shall have occurred and be continuing at the date of declaration or
payment thereof or would result therefrom or (B) such Restricted Payment is prohibited under the
terms of any Indebtedness or Capital Stock of any Borrower or Borrower Subsidiary.

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          9.07. Conduct of Business; Subsidiaries; Acquisitions.

          (a) No Borrower shall, or shall permit any Borrower Subsidiary to, engage in any business
other than the businesses engaged in by it on the date hereof and any business or activities which
are substantially similar, related or incidental thereto.

          (b) No Borrower shall, or shall permit any Borrower Subsidiary to, create, capitalize or
acquire any Subsidiary after the date hereof except with the prior written consent of the
Administrative Agent and so long as:

     (i) with respect to any Domestic Subsidiary created, capitalized or acquired
after the Closing Date, (A) the Capital Stock of such Subsidiary has been pledged to
the Administrative Agent as security for the Obligations pursuant a Pledge Agreement,
(B) such Subsidiary has guaranteed the Obligations pursuant to a Multicurrency
Borrower Guaranty and a Domestic Borrower Guaranty, and (C) such Subsidiary has
granted to the Administrative Agent as security for the Obligations a security
interest in all of its assets pursuant to a Domestic Security Agreement (and a
Trademark Security Agreement, if applicable);

     (ii) with respect to any First Tier Foreign Subsidiary of any Domestic Borrower
created, capitalized or acquired after the Closing Date, (A) sixty-five percent
(65.0%) of the Capital Stock of such Subsidiary has been pledged to the Administrative
Agent as security for the Obligations pursuant to a Pledge Agreement and (B) and if
such Subsidiary owns directly, or indirectly, Capital Stock of a Multicurrency
Borrower, (1) such Subsidiary has granted to the Administrative Agent as security for
the Multicurrency Obligations a security interest in all of its assets pursuant to a
Foreign Security Agreement, (2) such Subsidiary has guaranteed the Multicurrency
Obligations pursuant to a Foreign Guaranty and (3) such Subsidiary has pledged the
Capital Stock of each of its Foreign Subsidiaries as security for the Multicurrency
Obligations pursuant to a Pledge Agreement, except that if, as of any date of
determination, (x) the total assets of such First Tier Foreign Subsidiary do not
exceed $5,000,000 and (y) the total assets of all First Tier Foreign Subsidiaries that
have not been pledged as described above do not exceed $20,000,000, the foregoing
clause (ii) shall not apply with respect to such First Tier Foreign Subsidiary
until such time as (i) such First Tier Foreign Subsidiary’s assets exceed $5,000,000
or (ii) the total assets of all First Tier Foreign Subsidiaries that have not been
pledged as described above are in excess of $20,000,000;

     (iii) with respect to any Subsidiary of any Foreign Credit Party created,
capitalized or acquired after the Closing Date, (A) the Capital Stock of such
Subsidiary has been pledged to the Administrative Agent as security for the
Multicurrency Obligations pursuant to a Pledge Agreement, (B) such Subsidiary has
guaranteed the Multicurrency Obligations pursuant to a Foreign Guaranty, and (C) such
Subsidiary has granted to the Administrative Agent as security for the Multicurrency
Obligations a security interest in all of its assets pursuant to a Foreign Security
Agreement (and a Trademark Security Agreement, if applicable) and (D) such Subsidiary
has pledged the Capital Stock of each of its Foreign Subsidiaries as security for the
Multicurrency Obligations, except that if the total assets of such Subsidiary do not
exceed $5,000,000, the foregoing clause (iii) shall not apply until such time
as such Subsidiary’s total assets are in excess of such amount; and

     (iv) with respect to an Acquisition, such Acquisition is otherwise permitted
pursuant to Section 9.04(f).

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          (c) No Borrower shall permit any Domestic Subsidiary, First Tier Foreign Subsidiary of a
Domestic Borrower, or Subsidiary of a Foreign Credit Party to have total assets in excess of
$5,000,000 unless:

     (i) all of (or if subject to the following paragraph, sixty-five percent (65.0%)
of) the Capital Stock of such Subsidiary has been pledged to the Administrative Agent
as security for the Obligations (or, with respect to a Subsidiary of a Multicurrency
Borrower, for the Multicurrency Obligations only) pursuant to a Pledge Agreement;

     (ii) with respect to any Domestic Subsidiary, such Subsidiary has guaranteed the
Obligations pursuant to a Multicurrency Borrower Guaranty and a Domestic Borrower
Guaranty and has granted to the Administrative Agent as security for the Obligations a
security interest in all of its assets pursuant to a Domestic Security Agreement (and
a Trademark Security Agreement, if applicable);

     (iii) with respect to any Subsidiary of a Foreign Credit Party, such Subsidiary
has guaranteed the Multicurrency Obligations pursuant to a Foreign Guaranty and has
granted to the Administrative Agent as security for the Obligations a security
interest in all of its assets pursuant to a Foreign Security Agreement (and a
Trademark Security Agreement, if applicable);

provided, that the Borrowers shall not be required to deliver (or cause the delivery of)
any such guaranties or pledges if the Administrative Agent determines in its sole discretion that
the cost of obtaining and/or perfecting, as applicable, any such guaranties or pledges is excessive
in light of the value of obtaining and/or perfecting guaranties or pledges; provided,
further, that, notwithstanding any prior determination by the Administrative Agent of the
relative “value” of any pledge or guaranty relative to the cost of such pledge or guaranty, the
Borrowers shall promptly pledge or guaranty (or cause the delivery of any such pledge or guaranty)
at any later date upon the Administrative Agent’s direction to do so.

Notwithstanding anything to the contrary in the foregoing paragraphs (b) and (c), if any Borrower
Subsidiary is a controlled foreign corporation within the meaning of United States Treasury
Regulations Section 1.956-2(c)(1), then no more than 65.0% of the Capital Stock of such Subsidiary
shall be required to be pledged to the Administrative Agent as security for the Domestic
Obligations.

          9.08. Transactions with Shareholders and Affiliates. No Borrower shall, or shall
permit any Borrower Subsidiary to, directly or indirectly enter into or permit to exist any
transaction (including, without limitation, the purchase, sale, lease or exchange of any property
or the rendering of any service) with any holder or holders of more than five percent (5%) of any
class of equity Securities of any Borrower, or with any other Affiliate of any Borrower which is
not its Subsidiary:

          (a) on terms that are less favorable to such Borrower or such Borrower Subsidiary, as
applicable, than those that might be obtained in an arm’s length transaction at the time from
Persons who are not such a holder or Affiliate;

          (b) if such Affiliate transaction involves an amount in excess of $10,000,000, unless the
terms of which are set forth in writing and a majority of the members of such Borrower or Borrower
Subsidiary’s board of directors disinterested with respect to such Affiliate transaction have
determined in good faith that the criteria set forth in clause (a) are satisfied and have
approved the relevant Affiliate transaction as evidenced by a resolution of such board of
directors; provided, that for purposes of this paragraph only, in the event of any Affiliate
transaction involving the Parent, those members of the board

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of directors of the applicable Borrower or Borrower Subsidiary who are not Permitted Holders
and are members of the board of directors of the Parent shall be deemed disinterested; or

          (c) if such Affiliate transaction involves an amount in excess of (i) $10,000,000 in the case
of any Affiliate transaction between the Parent, on the one hand, and any Borrower or any Borrower
Subsidiary, on the other hand, or (ii) $20,000,000 in the case of any other Affiliate transaction,
unless the board of directors of the applicable Borrower or Borrower Subsidiary shall also have
received a written opinion from an Independent Qualified Party to the effect that such Affiliate
transaction is fair, from a financial standpoint, to NMHG Holding and its Subsidiaries and the
applicable Borrower or Borrower Subsidiary or not less favorable to NMHG Holding and its
Subsidiaries and the applicable Borrower or Borrower Subsidiary than could reasonably be expected
to be obtained at the time in an arm’s-length transaction with a Person who was not an Affiliate.

Nothing contained in this Section 9.08 shall prohibit (w) any transaction expressly
permitted by Sections 9.01, 9.02, 9.04, 9.05 and 9.06;
(x) increases in compensation and benefits for officers and employees of any Borrower or any
Borrower Subsidiary which are customary in the industry or consistent with the past business
practice of such Borrower or such Subsidiary, provided that no Event of Default or Default has
occurred and is continuing; (y) payment of customary directors’ fees and indemnities; or (z)
performance of any obligations arising under the Loan Documents.

          9.09. Restriction on Fundamental Changes. No Borrower shall, or shall permit any
Borrower Subsidiary to, enter into any merger or consolidation, or liquidate, wind-up or dissolve
(or suffer any liquidation or dissolution), or convey, lease, sell, transfer or otherwise dispose
of, in one transaction or series of transactions, all or substantially all of such Person’s
business or Property, whether now or hereafter acquired, except:

          (a) in connection with transactions permitted under Section 9.02;

          (b) for a merger of (i) a Domestic Credit Party into a Domestic Borrower or a Foreign Credit
Party into a Multicurrency Borrower, (ii) a Guarantor into another Guarantor, or (iii) any other
Borrower Subsidiary into another Borrower Subsidiary, provided that if the non-surviving entity was
a Pledged Entity, the Capital Stock of such surviving entity shall be pledged to the Administrative
Agent in accordance with Section 9.07 as if such surviving entity is a newly acquired
entity; (it being agreed and understood that after giving effect to any merger, involving NMHG
Holding or Hyster-Yale, all of the Capital Stock of NMHG shall have been pledged to the
Administrative Agent pursuant to the Pledge Agreement); provided further, if the non-surviving
entity had pledged the Capital Stock of a Pledged Entity, the Person owning such Capital Stock of
such Pledged Entity following such merger shall execute and deliver a Pledge Agreement pledging
such Capital Stock of the Pledged Entity to the Administrative Agent; provided that the documents
governing such merger are satisfactory to the Administrative Agent; and

          (c) any of the following:

     (i) any dissolution or liquidation of the assets and liabilities of a Domestic
Credit Party (that is not a Borrower) into another Domestic Credit Party;

     (ii) any dissolution or liquidation of the assets and liabilities of a Foreign
Credit Party (that is not a Borrower) into another Foreign Credit Party;

     (iii) any dissolution or liquidation of the assets and liabilities of a
Foreign Credit Party into a Domestic Credit Party; or

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     (iv) any dissolution or liquidation of the assets and liabilities of any
Borrower Subsidiary that is not a Credit Party into another Borrower Subsidiary or a
Credit Party,

so long as, in any case of clauses (i) through (iv) above:

	 	(x)	 	if the dissolved
or liquidated entity was a Pledged Entity, the Capital
Stock of the entity into which such entity is liquidated
or dissolved shall be pledged to the Administrative
Agent in accordance with Section 9.07 as if such entity
acquiring the assets of such dissolved or liquidated
entity is a newly acquired entity; and
	 
	 	(y)	 	if the liquidated
or dissolved entity had pledged the Capital Stock of a
Pledged Entity, the Person owning such Capital Stock of
such Pledged Entity following such dissolution or
liquidation shall execute and deliver a Pledge Agreement
pledging such Capital Stock of the Pledged Entity to the
Administrative Agent.

          9.10. Sale and Leaseback Transactions; Operating Leases. Except with respect to the
Property identified on Schedule 9.10 attached hereto, no Borrower shall, or shall permit
any Borrower Subsidiary to, become liable, directly, by assumption or by Accommodation Obligation,
with respect to any lease, whether an Operating Lease or a Capital Lease, of any Property (whether
real or personal or mixed) which it or any of its Subsidiaries (i) sold or transferred or is to
sell or transfer to any other Person, or (ii) intends to use for substantially the same purposes as
any other Property which has been or is to be sold or transferred by it or one of its Subsidiaries
to any other Person, in either instance, in connection with such lease, other than liabilities in
respect of such transactions that do not exceed $10,000,000 in the aggregate during any in any
twelve consecutive month period.

          9.11. Margin Regulations; Securities Laws. No Borrower shall, or shall permit any
Borrower Subsidiary to, use all or any portion of the proceeds of any credit extended hereunder to
purchase or carry Margin Stock or to violate the Securities Exchange Act or the Securities Act,
provided, however, that proceeds of any credit extended hereunder that are distributed to Parent in
accordance with Section 9.06 may be used by the Parent to purchase and retire its own
Capital Stock; provided, further, however, that none of the Borrower or any Borrower Subsidiary
shall at any time own any Margin Stock.

          9.12. ERISA. Except as would not reasonably be expected to result in a Material
Adverse Effect, no Borrower shall, or shall permit any Borrower Subsidiary to:(a) engage, or permit
any of its Subsidiaries to engage, in any prohibited transaction described in Sections 406 of ERISA
or 4975 of the Internal Revenue Code for which a statutory or class exemption is not available or a
private exemption has not been previously obtained from the DOL;

          (b) permit any Benefit Plan to fail to satisfy the minimum funding standard (as defined in
Sections 302 of ERISA and 412 of the Internal Revenue Code) for a plan year without the need of any
funding waiver under Section 412(c) of the Code;

          (c) fail, or permit any ERISA Affiliate who is a Borrower or a Borrower Subsidiary to fail, to
pay timely required contributions or annual installments due with respect to any waived funding
deficiency to any Benefit Plan;

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          (d) terminate, or permit any ERISA Affiliate who is a Borrower or Borrower Subsidiary to
terminate, any Benefit Plan which would result in any liability of Borrower or any ERISA Affiliate
under Title IV of ERISA;

          (e) fail to make any contribution or payment to any Multiemployer Plan which Borrower or any
ERISA Affiliate may be required to make under any agreement relating to such Multiemployer Plan, or
any law pertaining thereto;

          (f) fail, or permit any ERISA Affiliate who is a Borrower or Borrower Subsidiary to fail, to
pay any required installment or any other payment required under Section 412 or Section 430 of the
Internal Revenue Code on or before the due date for such installment or other payment;

          (g) permit any Benefit Plan to fail to satisfy the requirements of Section 401(a)(29) of the
Internal Revenue Code;

          (h) permit any further unfunded liabilities with respect to any Foreign Pension Plan which
would trigger a requirement to make a material increase in contributions to fund any such
liabilities; or

          (i) fail, or permit any of its Subsidiaries to fail, to pay any required contributions or
payments to a Foreign Pension Plan on or before the due date for such required installment or
payment.

          9.13. Constituent Documents. Other than in connection with a transaction permitted
pursuant to Section 9.09, no Borrower shall, nor shall permit any Credit Party or Borrower
Subsidiary to, amend, modify or otherwise change any of the terms or provisions in any of their
respective Constituent Documents as in effect on the Closing Date, except to the extent doing so
will not materially and adversely effect the rights of the Lenders, provided, that no Credit Party
may change its name other than in accordance with the applicable Security Agreement.

          9.14. Fiscal Year. No Borrower or Borrower Subsidiary shall change its Fiscal Year
for accounting or tax purposes from a period consisting of the 12-month period ending on December
31 of each calendar year.

          9.15. Cancellation of Debt; Prepayment of Indebtedness; Certain Amendments. No
Borrower shall, or shall permit any Borrower Subsidiary to, (i) cancel any material claim or debt
or amend or modify the terms thereof, except in the ordinary course of its business or pursuant to
the exercise of reasonable business judgment; (ii) prepay, redeem, purchase, repurchase, defease or
retire any Indebtedness or the Permitted Term B Loans except for (1) regularly scheduled payments
as expressly permitted pursuant to the terms of the Loan Documents, (2) regularly scheduled
payments of principal of and interest on the Permitted Term B Loans and any mandatory prepayment
required to be made with respect thereto, in accordance with, and to the extent permitted by, the
Permitted Term B Loan Intercreditor Agreement, (3) the prepayment of the Existing Permitted Term B
Loans with proceeds of Indebtedness that constitutes Permitted Term B Loans and/or cash and (4)
subject to the terms of Section 2.03, the prepayment of the Permitted Term B Loans with
Loans made hereunder after the Commitments hereunder are increased pursuant to Section
2.03; provided, that cash may only be used to repay Permitted Term B Loans if used
together with proceeds of new Permitted Term B Loans, an Event of Default is not outstanding and
would not result therefrom; provided, further, that the Administrative Agent’s Lien
in such cash shall automatically terminate if applied in accordance with the foregoing and in
accordance with the other terms and conditions of the Loan Documents; or (iii) permit the
Constituent Documents of any Borrower Subsidiary which is a limited liability company, or any
document or instrument evidencing a membership interest in such limited liability company, to
provide that membership interests in such

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Subsidiary are securities governed by Article 8 of the Uniform Commercial Code as in effect in
any applicable jurisdiction.

          9.16. Environmental Matters. Neither NMHG Holding, nor NMHG, nor any of NMHG’s
Subsidiaries shall become subject to any Liabilities and Costs which would have a Material Adverse
Effect and which arise out of or relate to (a) exposure to or the Release or threatened Release to,
from or at any location of any Contaminant, or any Remedial Action in response thereto, or (b) any
violation of any Environmental, Health and Safety Requirements of Law.

          9.17. Cash Management. No Borrower shall, or shall permit any Borrower Subsidiary to,
(a) open any deposit or payroll account or securities account except in accordance with Section
3.06 or (b) authorize or direct any Person to take any action with respect to amounts deposited
in the Lockboxes, the Collection Accounts, the Cash Collateral Accounts, or the Domestic
Concentration Account in contravention of the provisions hereof.

          9.18. No Restrictions on Subsidiary Dividends. Except to the extent that any such
agreement may be contained in the Loan Documents or the Permitted Term B Loan Documents, no
Borrower will agree, or permit any Borrower Subsidiary to agree, to create or otherwise permit to
exist any consensual encumbrance or restriction of any kind on the ability of any Borrower
Subsidiary to pay dividends or make any other distribution or transfer of funds or assets or make
loans or advances to or other Investments in, or pay any Indebtedness owing to, any Borrower or any
other Borrower Subsidiary.

          9.19. No Violation of Anti-Terrorism Laws. The Borrowers and Borrower Subsidiaries
shall not: (a) violate any of the prohibitions set forth in the Anti-Terrorism Laws applicable to
any of them or the business that they conduct, or (b) require the Administrative Agent, the Issuing
Banks or the Lenders to take any action that would cause the Administrative Agent or the Lenders to
be in violation of the prohibitions set forth in the Anti-Terrorism Laws, it being understood that
the Administrative Agent, any Issuing Bank or any Lender can refuse to honor any such request or
demand otherwise validly made by any Borrower under this Agreement or any Loan Document. The
Borrowers also shall not, and shall not permit any Borrower Subsidiary to, directly or indirectly,
(a) Knowingly conduct any business or engage in making or receiving any contribution of funds,
goods or services to or for the benefit of any Designated Person or any other Person identified in
any List, (b) Knowingly deal in, or otherwise engage in any transaction relating to, any property
or interests in property blocked pursuant to any Anti-Terrorism Law, (c) repay the Loans with any
funds derived from any unlawful activity with the result that the making of the Loans would be in
violation of law, or (d) Knowingly engage in or conspire to engage in any transaction that evades
or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the
prohibitions set forth in any Anti-Terrorism Law (and the Borrowers shall deliver to the
Administrative Agent any certification or other evidence requested from time to time by the
Administrative Agent in its reasonable discretion, confirming compliance with this Section
9.20).

ARTICLE X

FINANCIAL COVENANTS

          Each of the Borrowers covenants and agrees that so long as any Commitment is outstanding and
thereafter until Payment In Full of all of the Obligations, unless the Requisite Lenders (or, with
respect to Section 10.01, all Lenders) shall otherwise give prior written consent thereto:

          10.01. Excess Availability. The Borrowers shall at all times maintain aggregate
Availability of $10,000,000 under the Credit Facilities.

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          10.02. Maximum Leverage Ratio.

          (a) NMHG Holding and its Subsidiaries shall maintain a Leverage Ratio, as determined as of the
last day of each fiscal quarter of NMHG Holding, of not more than 3.625 to 1.00.

          (b) The Leverage Ratio covenant set forth in Section 10.02(a) will be tested only
while any obligations (other than contingent unliquidated indemnification obligations) remain
outstanding under the Existing Term Loan B Credit Agreement.

          10.03. Minimum Fixed Charge Coverage Ratio.

          (a) NMHG Holding and its Subsidiaries shall maintain a Fixed Charge Coverage Ratio on a
consolidated basis, as of the last day of each fiscal quarter of NMHG Holding for the
four-fiscal-quarter period then ending of at least 1.10 to 1.00.

          (b) The Fixed Charge Coverage Ratio covenant set forth in Section 10.03(a) will be
tested only if (x) aggregate Availability under both Credit Facilities at any point during the
immediately preceding fiscal quarter is less than $30,000,000 or (y) aggregate Availability at any
point during the immediately preceding fiscal quarter in respect of the Domestic Facility is less
than $22,500,000.

          10.04. Other Financial Covenants. If, at any time:

          (a) any Borrower shall (A) add any financial performance maintenance covenants or tests to any
documents in respect of Indebtedness in a principal amount of $50,000,000 or more (“Specified
Indebtedness”) or (B) amend or modify any financial performance maintenance covenants or tests
set forth in any agreement in respect of any Specified Indebtedness in a manner to make any such
financial covenant or financial test more onerous on such Borrower, restrictive on such Borrower or
easily triggered by such Borrower than any comparable provisions set forth herein;

          then

          (b) this Article X shall be deemed to be automatically amended (without action or consent by
any Person) to include such new or more onerous, restrictive or easily triggered, as applicable,
financial performance maintenance covenants or tests in this Article X. If requested by the
Administrative Agent, the Borrowers will deliver written agreements to the Administrative Agent and
the Lenders evidencing any such amendment.

ARTICLE XI

EVENTS OF DEFAULT; RIGHTS AND REMEDIES

          11.01. Events of Default. Each of the following occurrences shall constitute an Event
of Default hereunder:

          (a) Failure to Make Payments When Due. Any Borrower shall fail to pay when due any of
the Obligations. Any Borrower shall fail to make any payment when required under Section
3.07.

          (b) Breach of Certain Covenants. Any Borrower shall fail to perform or observe duly
and punctually any agreement, covenant or obligation binding on such Person under (i) 7.02,
7.03, 7.07, 7.11 (solely with respect to notices of defaults and
nonpayments required pursuant to such section), 8.01, 8.02, 8.03,
8.04, 8.05 (solely with respect to the failure to pay insurance premiums which has
the effect of terminating any insurance policy required to be maintained pursuant to such section),
8.06 or 8.12 or (ii) Article IX or Article X.

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          (c) Breach of Representation or Warranty. Any representation or warranty made or
deemed made by any Borrower or any Borrower Subsidiary to the Administrative Agent, any Lender or
Issuing Bank herein or in any other Loan Document or in any certificate at any time given by any
such Person pursuant to any Loan Document shall be false or misleading in any material respect on
the date made (or deemed made).

          (d) Other Defaults. Other than as covered by paragraphs (a), (b) or
(c) of this Section 11.01, any Borrower or any Borrower Subsidiary (where
applicable) shall fail to perform or observe duly and punctually any agreement, covenant or
obligation binding on such Person under (i) Section 7.05 and such default shall continue
for two (2) Business Days after the occurrence thereof, (ii) Section 7.06, 7.08 or
8.13(b), and such default shall continue for five (5) Business Days after the occurrence
thereof, (iii) Section 7.01, 7.04, 7.09, 7.11, 8.05,
8.07, 8.08, 8.09, 8.10 or 8.13(a), and such default shall
continue for ten (10) Business Days after the occurrence thereof, (iv) Section 7.10,
7.12, 7.13, or the non-monetary provisions of the Proposal Letter, and such
default shall continue for fifteen (15) Business Days after the occurrence thereof, or (v) any
other term contained herein (other than under Section 8.11) or in any other Loan Document,
and such default shall continue for thirty (30) calendar days.

          (e) Default as to Other Indebtedness. Any Borrower or Borrower Subsidiary shall fail
to make any payment when due (whether by scheduled maturity, required prepayment, acceleration,
demand or otherwise) after any grace period applicable thereto with respect to the Permitted Term B
Loans, or any other Indebtedness (other than an Obligation) in excess of $10,000,000 and, if
aggregate Availability under the Credit Facilities is greater than $30,000,000, such default shall
continue for three Business Days; or any breach, default or event of default shall occur, or any
other condition shall exist under any instrument, agreement or indenture pertaining to any such
Indebtedness, if the effect thereof is (or, with the giving of notice or lapse of time or both,
would be) to cause an acceleration, mandatory redemption or other required repurchase of any such
Indebtedness, or permit the holders of any such Indebtedness to accelerate the maturity of such
Indebtedness or require the redemption or other repurchase of such Indebtedness; or any such
Indebtedness shall be otherwise declared to be due and payable (by acceleration or otherwise) or
required to be prepaid, redeemed or otherwise repurchased by any Borrower or any Borrower
Subsidiary (other than by a regularly scheduled required prepayment, mandatory redemption or
required repurchase) prior to the stated maturity thereof.

          (f) Involuntary Bankruptcy; Appointment of Receiver, Etc.

     (i) An involuntary case, proceeding or other action shall be commenced against
any Borrower or any Borrower Subsidiary under any existing or future law of any
jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization
or relief of debtors, seeking to have any order for relief entered with respect to it,
or seeking to adjudicate it as bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, wind-up, liquidation, dissolution, composition or other
relief with respect to it or its debts, or seeking appointment of a receiver,
administrative receiver, trustee, receiver-manager, liquidator, sequestrator,
administrator, custodian or similar official for it or for all or any substantial part
of its assets, which case, proceeding or other action results in entry of an order for
relief or any such adjudication or appointment or remains undismissed, undischarged or
unbonded for period of thirty (30) days; or a court having jurisdiction in the
premises shall enter a decree or order for relief in respect of any Borrower or any
Borrower Subsidiary in an involuntary case, under any applicable bankruptcy,
insolvency or other similar law now or hereinafter in effect; or any other similar
relief shall be granted under any applicable federal, state, local or foreign law.

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     (ii) A decree or order of a court having jurisdiction in the premises for the
appointment of a receiver, receiver-manager, liquidator, administrative receiver,
sequestrator, trustee, custodian or other officer having similar powers over any
Borrower or any Borrower Subsidiary or over all or a substantial part of the Property
of any Borrower or any Borrower Subsidiary shall be entered; or an interim receiver,
trustee or other custodian of any Borrower or any Borrower Subsidiary or of all or a
substantial part of the property of any Borrower or any Borrower Subsidiary shall be
appointed or a warrant of attachment, execution or similar process against any
substantial part of the Property of any Borrower or any Borrower Subsidiary shall be
issued and any such event shall not be stayed, dismissed, bonded or discharged within
thirty (30) days after entry, appointment or issuance or, with respect to any
Netherlands Borrower, such proceeding can no longer be dismissed (in kracht van
gewijsde).

          (g) Voluntary Bankruptcy; Appointment of Receiver, Etc. Any Borrower or any Borrower
Subsidiary shall (i) commence any voluntary case, proceeding or other action (A) under any existing
or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency,
reorganization or relief of debtors, seeking to have any order for relief entered with respect to
it, or seeking to adjudicate it as bankrupt or insolvent, or seeking reorganization, arrangement,
adjustment, wind-up, liquidation, dissolution, composition or other relief with respect to it or
its debts, or (B) seeking appointment of a receiver, trustee, receiver-manager, administrative
receiver, liquidator, sequestrator, administrator, custodian or similar official for it or for all
or any substantial part of its assets or (ii) consent to the entry of an order for relief in an
involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such
law, (iii) consent to the appointment of or taking possession by a receiver, receiver-manager,
liquidator, sequestrator, trustee or other custodian or other officer for all or a substantial part
of its property, (iv) generally not pay its debts as such debts become due, or shall admit in
writing its inability to pay its debts generally, or shall make any general assignment for the
benefit of creditors or shall otherwise become insolvent under any relevant law, (v) take any other
action to authorize any of the actions set forth in this paragraph (g), or (vi) any petition is
presented by any Person for the appointment of an administrator of any Borrower or any Borrower
Subsidiary.

          (h) Judgments and Attachments.

     (i) Any money judgment (other than a money judgment covered by insurance as to
which the insurance company has acknowledged coverage), writ or warrant of attachment,
distress or similar process against any Borrower or any Borrower Subsidiary or any of
their respective assets involving in any case an amount in excess of $2,000,000 is
entered and shall remain undischarged, unvacated, unbonded or unstayed for a period of
thirty (30) days or in any event later than five (5) days prior to the date of any
proposed sale thereunder; provided, however, if any such judgment, writ or warrant of
attachment or similar process is in excess of $5,000,000, the entry thereof shall
immediately constitute an Event of Default hereunder.

     (ii) A federal tax Lien is filed against any Borrower, any Borrower Subsidiary
or any Property of any Borrower or any Borrower Subsidiary which is not discharged of
record, bonded over or otherwise secured to the satisfaction of the Administrative
Agent within forty (40) days after the filing thereof or the date upon which the
Administrative Agent receives actual knowledge of the filing thereof for an amount
which equals or exceeds $2,000,000.

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     (iii) An Environmental Lien is filed against any Property of any Borrower or any
Borrower Subsidiary with respect to Claims in an amount which equals or exceeds
$2,000,000.

          (i) Dissolution. Any order, judgment or decree shall be entered against any Borrower
or any Borrower Subsidiary, decreeing its involuntary dissolution, split up or other similar
proceeding, and such order shall remain undischarged and unstayed for a period in excess of thirty
(30) days; or any Borrower or any Borrower Subsidiary shall otherwise dissolve or cease to exist
except as specifically permitted hereby; or any corporate action or other steps shall be taken to
wind-up, liquidate or dissolve NACCO Materials Handling S.R.L.

          (j) Loan Documents; Failure of Security. At any time, for any reason, (i) any Loan
Document ceases to be in full force and effect (except in accordance with its terms) or any
Borrower or any Borrower Subsidiary party thereto seeks to repudiate its obligations thereunder and
the Liens intended to be created thereby are, or any Borrower or any Borrower Subsidiary seeks to
render such Liens, invalid or unperfected, or (ii) Liens in favor of the Administrative Agent, the
Issuing Banks and/or the Lenders contemplated by the Loan Documents shall, at any time, for any
reason, be invalidated or otherwise cease to be in full force and effect, or such Liens shall be
subordinated or shall not have the priority contemplated hereby or by the other Loan Documents.

          (k) Termination Event. Any Termination Event occurs which would be reasonably likely
to subject any Borrower to a liability in excess of $20,000,000.

          (l) Waiver of Minimum Funding Standard. If the plan administrator of any Plan applies
under Section 412(c) of the Internal Revenue Code for a waiver of the minimum funding standards of
Section 412(a) of the Internal Revenue Code and the Administrative Agent believes that the
substantial business hardship upon which the application for the waiver is based could subject any
Borrower or any ERISA Affiliate to liability in excess of $2,000,000.

          (m) Material Adverse Change. An event shall exist or occur which has a Material
Adverse Effect.

          (n) Change of Control. A Change of Control shall have occurred.

          (o) Australian Credit Facility Sublimit. The outstanding obligations of any Borrower
or Borrower Subsidiary under the Australian Credit Facility shall exceed the Australian Credit
Facility Sublimit for more than three Business Days after the Administrative Agent sends notice
thereof to any Borrower or Borrower Subsidiary or any Borrower or Borrower Subsidiary otherwise has
Knowledge thereof.

An Event of Default shall be deemed “continuing” until cured or waived in accordance with
Section 14.07.

     11.02. Rights and Remedies.

     (a) Acceleration and Termination. Upon the occurrence of any Event of Default
described in Sections 11.01(f) or 11.01(g), the Commitments shall automatically and
immediately terminate and the unpaid principal amount of, and any and all accrued interest on, the
Obligations and all accrued fees shall automatically become immediately due and payable, without
presentment, demand, or protest or other requirements of any kind (including, without limitation,
valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate and of
acceleration), all of which are

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hereby expressly waived by the Borrowers; and upon the occurrence and during the continuance
of any other Event of Default, the Administrative Agent shall at the request, or may with the
consent, of the Requisite Lenders, by written notice to the Borrowers, (i) declare that all or any
portion of the Commitments are terminated, whereupon the Commitments and the obligation of each
Lender to make any Loan hereunder and of each Lender or Issuing Bank to Issue or participate in any
Letter of Credit not then Issued shall immediately terminate, and/or (ii) declare the unpaid
principal amount of and any and all accrued and unpaid interest on the Obligations to be, and the
same shall thereupon be, immediately due and payable, without presentment, demand, or protest or
other requirements of any kind (including, without limitation, valuation and appraisement,
diligence, presentment, notice of intent to demand or accelerate and of acceleration), all of which
are hereby expressly waived by the Borrowers.

          (b) Deposit for Letters of Credit. In addition, after the occurrence and during the
continuance of an Event of Default, (i) with respect to Letter of Credit Obligations under the
Domestic Facility, the Domestic Borrowers jointly and severally agree, and (ii) with respect to
Letter of Credit Obligations under the Multicurrency Facility, the Multicurrency Borrowers jointly
and severally agree, promptly upon demand by the Administrative Agent (given upon the written
instructions of the Requisite Lenders or, in the absence of such instructions, in its sole
discretion), to deliver to the Administrative Agent, Cash Collateral in such form as requested by
the Administrative Agent for deposit in the applicable Cash Collateral Account, together with such
endorsements, and execution and delivery of such documents and instruments as the Administrative
Agent may reasonably request in order to perfect or protect the Administrative Agent’s Lien with
respect thereto, in an aggregate principal amount equal to (x) 105% of the face amount of each
Letter of Credit Issued under the Domestic Facility or (y) 110% of the face amount of each Letter
of Credit Issued under the Multicurrency Facility.

          (c) Rescission. If at any time after termination of the Commitments and/or
acceleration of the maturity of the Loans, the Borrowers shall pay all arrears of interest and all
payments on account of principal of the Loans and Reimbursement Obligations under the applicable
Credit Facility which shall have become due otherwise than by acceleration (with interest on
principal and, to the extent permitted by law, on overdue interest, at the rates specified herein)
and all Events of Default and Defaults (other than nonpayment of principal of and accrued interest
on the Loans due and payable solely by virtue of acceleration) shall be remedied or waived pursuant
to Section 14.07, then upon the written consent of the Requisite Lenders and written notice
to the Borrowers, the termination of the Commitments and/or the acceleration and the consequences
of such termination and/or acceleration may be rescinded and annulled; but such action shall not
affect any subsequent Event of Default or Default or impair any right or remedy consequent thereon.
The provisions of the preceding sentence are intended merely to bind the Lenders and the Issuing
Banks to a decision which may be made at the election of the Requisite Lenders; they are not
intended to benefit the Borrowers and do not give any Borrower the right to require the Lenders to
rescind or annul any termination of the aforesaid obligations of the Lenders or the Issuing Banks
or any termination of the aforesaid obligations of the Lenders or the Issuing Banks or any
acceleration hereunder, even if the conditions set forth herein are met.

          (d) Enforcement. The Borrowers acknowledge that in the event any Borrower or any
Borrower Subsidiary fails to perform, observe or discharge any of its respective obligations or
liabilities hereunder or under any other Loan Document, any remedy of law may prove to be
inadequate relief to the Administrative Agent, the Issuing Banks and the Lenders; therefore, each
Borrower agrees that the Administrative Agent, the Issuing Banks and the Lenders shall be entitled
after the occurrence and during the continuance of an Event of Default to temporary and permanent
injunctive relief in any such case without the necessity of proving actual damages.

          11.03. Cash Collateral. The Administrative Agent may, at any time after an Event of
Default has occurred and is continuing, and otherwise consistent with the Uniform Commercial Code
(or

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any applicable Requirements of Law in any other relevant jurisdiction), sell or cause to be
sold any Cash Equivalents being held by the Administrative Agent as Cash Collateral (in any Cash
Collateral Account, or otherwise) at any broker’s board or at public or private sale, in one or
more sales or lots, at such price as the Administrative Agent may deem best, without assumption of
any credit risk, and the purchaser of any or all such Cash Equivalents so sold shall thereafter own
the same, absolutely free from any claim, encumbrance or right of any kind whatsoever. The
Administrative Agent, any of the Lenders and the Issuing Banks may, in its own name or in the name
of a designee or nominee, buy such Cash Equivalents at any public sale and, if permitted by
applicable law, buy such Cash Equivalents at any private sale. The Administrative Agent shall
apply the proceeds of any such sale, net of any expenses incurred in connection therewith, and any
other funds deposited in (x) the Domestic Cash Collateral Accounts, to the payment of the Domestic
Obligations in accordance with this Agreement and (y) the Multicurrency Cash Collateral Account to
the payment of the Multicurrency Obligations in accordance with this Agreement. Each Borrower
agrees that (a) each sale of Cash Equivalents shall be conducted in conformity with reasonable
commercial practices of banks, commercial finance companies, insurance companies or other financial
institutions disposing of property similar to such Cash Equivalents and shall be deemed to be
commercially reasonable and (b) any requirement of reasonable notice shall be met if such notice is
received by NMHG at its notice address on the signature pages hereto at least ten (10) Business
Days before the time of the sale or disposition. Any other requirement of notice, demand or
advertisement for sale is waived to the extent permitted by law. The Administrative Agent may
adjourn any public or private sale from time to time by announcement at the time and place fixed
therefor, and such sale may, without further notice, be made at the time and place to which it was
so adjourned.

          11.04. License for Use of Software and Other Intellectual Property. Unless expressly
prohibited by the licensor thereof, if any, the Administrative Agent is hereby granted a license to
use, without charge, the computer programs, software, printouts and other computer materials,
technical knowledge or processes, data bases, materials, trademarks, registered trademarks,
trademark applications, service marks, registered service marks, service mark applications,
patents, patent applications, trade names, industrial designs, rights of use of any name, labels,
fictitious names, inventions, designs, trade secrets, goodwill, registrations, copyrights,
copyright applications, Permits, licenses, franchises, customer lists, credit files,
correspondence, and advertising materials or any Property of a similar nature of any Credit Party
or Borrower Subsidiary, in each case, as it pertains to the Collateral owned by such Person, or any
rights to any of the foregoing, in completing production of, advertising for sale, and selling any
of such Collateral, and such Person’s rights under all licenses and franchise agreements shall
inure to the benefit of the Administrative Agent. The Administrative Agent agrees not to use any
such license prior to the occurrence of an Event of Default without giving prior notice to the
applicable Credit Party or Subsidiary thereof.

ARTICLE XII

THE ADMINISTRATIVE AGENT

          12.01. Appointment.

          (a) Each Domestic Lender, each Issuing Bank, and each Multicurrency Lender hereby designates
and appoints CNAI as the Administrative Agent hereunder (and as security trustee or security agent
under each Foreign Security Agreement, in each case on and subject to the terms thereunder), and
each such Person hereby irrevocably authorizes the Administrative Agent to execute such documents
(including, without limitation, the Loan Documents to which the Administrative Agent is a party)
and to take such other action on such Person’s behalf under the provisions hereof and of the other
Loan Documents and to exercise such powers as are set forth herein or therein together with such
other powers as are reasonably incidental thereto. As to any matters not expressly provided for
hereby (including, without limitation, enforcement or collection of the Notes or any amount payable
under any

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provision of Article III when due) or the other Loan Documents, the Administrative
Agent shall not be required to exercise any discretion or take any action. Notwithstanding the
foregoing, the Administrative Agent shall be required to act or refrain from acting (and shall be
fully protected in so acting or refraining from acting) upon the instructions of the Requisite
Lenders (or, where required by the express terms hereof, a different proportion of the Lenders) and
such instructions shall be binding upon all Lenders, Issuing Banks and Holders; provided, however,
the Administrative Agent shall not be required to take any action which (i) the Administrative
Agent reasonably believes shall expose it to personal liability unless the Administrative Agent
receives an indemnification satisfactory to it from the Lenders with respect to such action or (ii)
is contrary hereto, to the other Loan Documents or applicable law. The Administrative Agent agrees
to act as such on the express conditions contained in this Article XII.

          (b) The provisions of this Article XII are solely for the benefit of the
Administrative Agent, the Lenders and Issuing Banks, and no Borrower nor any Affiliate of any
Borrower shall have any rights to rely on or enforce any of the provisions hereof (other than as
expressly set forth in Sections 12.07 and 12.09). In performing its functions and
duties hereunder, the Administrative Agent shall act solely as agent of the Lenders and the Issuing
Banks and does not assume and shall not be deemed to have assumed any obligation or relationship of
agency, trustee or fiduciary with or for any Borrower or any Affiliate of any Borrower. The
Administrative Agent may perform any of its duties hereunder, or under the Loan Documents, by or
through its respective agents or employees.

          12.02. Nature of Duties. The Administrative Agent shall not have any duties or
responsibilities except those expressly set forth herein or in the Loan Documents. The duties of
the Administrative Agent shall be mechanical and administrative in nature. The Administrative
Agent shall not have by reason hereof a fiduciary relationship in respect of any Holder. Nothing
herein or in any of the Loan Documents, expressed or implied, is intended to or shall be construed
to impose upon the Administrative Agent any obligations in respect hereof or any of the Loan
Documents except as expressly set forth herein or therein. Each Lender and each Issuing Bank shall
make its own independent investigation of the financial condition and affairs of the Borrowers and
their Subsidiaries in connection with the making and the continuance of the Loans hereunder and
with the issuance of the Letters of Credit and shall make its own appraisal of the creditworthiness
of the Borrowers and their Subsidiaries initially and on a continuing basis, and the Administrative
Agent shall not have any duty or responsibility, either initially or on a continuing basis, to
provide any Holder with any credit or other information with respect thereto (except for reports
required to be delivered by the Administrative Agent under the terms hereof). If the
Administrative Agent seeks the consent or approval of any of the Lenders to the taking or
refraining from taking of any action hereunder, the Administrative Agent shall send notice thereof
to each Lender. The Administrative Agent shall promptly notify each Lender at any time that the
Lenders so required hereunder have instructed the Administrative Agent to act or refrain from
acting pursuant hereto Each Lender hereby consents to the Administrative Agent’s negotiation of
and entry into an intercreditor agreement on such Lender’s behalf in connection with Permitted Term
B Loans, including, without limitation, any intercreditor agreement governing Permitted Term B
Loans arranged, agented or held by Citibank, CNAI or any CNAI Affiliate. Such intercreditor
agreement shall constitute the intercreditor agreement described in the definition of “Permitted
Term B Loans” and is the intercreditor agreement to which Indebtedness obligations are required to
be subject in order to qualify as Permitted Term B Loans. Each Lender further authorizes the
Administrative Agent to take actions under such intercreditor agreement on its behalf and agrees to
be bound by the terms and conditions of such intercreditor agreement.

          12.03. Rights, Exculpation, Etc.

          (a) Liabilities; Responsibilities. None of the Administrative Agent, any Affiliate of
the Administrative Agent, nor any of their respective officers, directors, employees or agents
shall be

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liable to any Holder for any action taken or omitted by them hereunder or under any of the
Loan Documents, or in connection therewith, except for damages caused by such Person’s gross
negligence or willful misconduct, as determined in a judgment by a court of competent jurisdiction.
The Administrative Agent shall not be liable for any apportionment or distribution of payments
made by it in good faith pursuant to Section 3.02(b), and if any such apportionment or
distribution is subsequently determined to have been made in error the sole recourse of any Holder
to whom payment was due, but not made, shall be to recover from other Holders any payment in excess
of the amount to which they are determined to have been entitled. The Administrative Agent shall
not be responsible to any Holder for any recitals, statements, representations or warranties herein
or for the execution, effectiveness, genuineness, validity, legality, enforceability,
collectibility, or sufficiency hereof or of any of the other Loan Documents or the transactions
contemplated thereby, or for the financial condition of any Borrower or any Borrower’s Affiliates.
The Administrative Agent shall not be required to make any inquiry concerning either the
performance or observance of any of the terms, provisions or conditions hereof or of any of the
Loan Documents or the financial condition of any Borrower or any Affiliate of any Borrower, or the
existence or possible existence of any Default or Event of Default.

          (b) Right to Request Instructions. The Administrative Agent may at any time request
instructions from the applicable Lenders with respect to any actions or approvals which, by the
terms of any of the Loan Documents, the Administrative Agent is permitted or required to take or to
grant, and the Administrative Agent shall be absolutely entitled to refrain from taking any action
or to withhold any approval and shall not be under any liability whatsoever to any Person for
refraining from any action or withholding any approval under any of the Loan Documents until it
shall have received such instructions from those Lenders from whom the Administrative Agent is
required to obtain such instructions for the pertinent matter in accordance with the Loan
Documents. Without limiting the generality of the foregoing, no Holder shall have any right of
action whatsoever against the Administrative Agent as a result of the Administrative Agent acting
or refraining from acting under the Loan Documents in accordance with the instructions of the
Requisite Lenders or, where required by the express terms hereof, a greater proportion of the
Lenders.

          (c) Information. Neither the Administrative Agent nor any member of the Agent’s Group
shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty,
representation or other information made or supplied in or in connection with this Agreement, any
other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith or the adequacy, accuracy and/or
completeness of the information contained therein, (iii) the performance or observance of any of
the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document or the perfection
or priority of any Lien or security interest created or purported to be created by the Loan
Documents or (v) the satisfaction of any condition set forth in Article V or elsewhere
herein, other than (but subject to the foregoing clause (ii)) to confirm receipt of items expressly
required to be delivered to the Administrative Agent.

          12.04. Reliance. The Administrative Agent shall be entitled to rely upon any written
notices, statements, certificates, orders or other documents or any telephone message believed by
it in good faith to be genuine and correct and to have been signed, sent or made by the proper
Person, and with respect to all matters pertaining hereto or to any of the Loan Documents and its
duties hereunder or thereunder, upon advice of legal counsel (including counsel for any Borrower),
independent public accountants and other experts selected by it. The Administrative Agent may
consult with legal counsel (who may be counsel for any Borrower or any other Credit Party),
independent accountants and other

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experts selected by it, and shall not be liable for any action taken or not taken by it in
accordance with the advice of any such counsel, accountants or experts.

          12.05. Indemnification. To the extent that the Administrative Agent is not reimbursed
and indemnified by the Borrowers, the Lenders shall reimburse and indemnify the Administrative
Agent for and against any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be
imposed on, incurred by, or asserted against the Administrative Agent in any way relating to or
arising out of the Loan Documents or any action taken or omitted by the Administrative Agent under
the Loan Documents, in proportion to such Lender’s Pro Rata Share of all Credit Facilities;
provided, however, such Lenders shall have no obligation to the Administrative Agent with respect
to the matters indemnified pursuant to this Section 12.05 resulting from the willful
misconduct or gross negligence of the Administrative Agent, as determined in a judgment by a court
of competent jurisdiction. The obligations of such Lenders under this Section 12.05 shall
survive the Payment In Full of the Loans, the Reimbursement Obligations and all other Obligations
and the termination hereof.

          12.06. CNAI Individually.

          (a) With respect to their respective Pro Rata Shares of the Commitments hereunder, if any, and
the Loans made by it, if any, CNAI shall have and may exercise the same rights and powers hereunder
and are subject to the same obligations and liabilities as and to the extent set forth herein for
any other Lender under the applicable Credit Facility. The terms “Lenders”, “Domestic Lenders” or
“Requisite Lenders” or any similar terms shall, unless the context clearly otherwise indicates,
include CNAI in its individual capacity as a Lender, a Domestic Lender or as one of the Requisite
Lenders. CNAI and its Affiliates may accept deposits from, lend money to, and generally engage in
any kind of banking, trust or other business with NMHG or any of its Subsidiaries as if CNAI were
not acting as Administrative Agent pursuant hereto.

          (b) Each Lender, each Issuing Bank, the Swing Loan Bank and the Overdraft Loan Bank
understands that the Person serving as Administrative Agent, acting in its individual capacity, and
its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial
services and businesses (including investment management, financing, securities trading, corporate
and investment banking and research) (such services and businesses are collectively referred to in
this Section 12.06(b) as “Activities”) and may engage in the Activities with or on
behalf of one or more of the Credit Parties or their respective Affiliates. Furthermore, the
Agent’s Group may, in undertaking the Activities, engage in trading in financial products or
undertake other investment businesses for its own account or on behalf of others (including the
Credit Parties and their Affiliates and including holding, for its own account or on behalf of
others, equity, debt and similar positions in one Borrower, another Credit Parties or their
respective Affiliates), including trading in or holding long, short or derivative positions in
securities, loans or other financial products of one or more of the Credit Parties or their
Affiliates. Each Lender, each Issuing Bank, the Swing Loan Bank and the Overdraft Loan Bank
understands and agrees that in engaging in the Activities, the Agent’s Group may receive or
otherwise obtain information concerning the Credit Parties or their Affiliates (including
information concerning the ability of the Credit Parties to perform their respective Obligations
hereunder and under the other Loan Documents) which information may not be available to any of the
Lenders, the Issuing Banks, the Swing Loan Bank and/or the Overdraft Loan Bank that are not members
of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall
have any duty to disclose to any Lender, any Issuing Bank, the Swing Loan Bank or the Overdraft
Loan Bank or use on behalf of any Lender, any Issuing Bank, the Swing Loan Bank or the Overdraft
Loan Bank, and shall not be liable for the failure to so disclose or use, any information
whatsoever about or derived from the Activities or otherwise (including any information concerning
the business, prospects, operations, property, financial and other condition or creditworthiness

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of any Credit Party or any Affiliate of any Credit Party) or to account for any revenue or
profits obtained in connection with the Activities, except that the Administrative Agent shall
deliver or otherwise make available to each Lender, each Issuing Bank, the Swing Loan Bank and the
Overdraft Loan Bank such documents as are expressly required by any Loan Document to be transmitted
by the Administrative Agent to any Lender, any Issuing Bank, the Swing Loan Bank or the Overdraft
Loan Bank.

          (c) Each Lender, each Issuing Bank, the Swing Loan Bank and the Overdraft Loan Bank further
understands that there may be situations where members of the Agent’s Group or their respective
customers (including the Credit Parties and their Affiliates) either now have or may in the future
have interests or take actions that may conflict with the interests of any one or more of the
Lenders, Issuing Banks, the Swing Loan Bank and the Overdraft Loan Bank (including the interests of
the Lenders hereunder and under the other Loan Documents). Each Lender, each Issuing Bank, the
Swing Loan Bank and the Overdraft Loan Bank agrees that no member of the Agent’s Group is or shall
be required to restrict its activities as a result of the Person serving as Administrative Agent
being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any
Activities without further consultation with or notification to any Lender, any Issuing Bank, the
Swing Loan Bank or the Overdraft Loan Bank. None of (i) this Agreement nor any other Loan
Document, (ii) the receipt by the Agent’s Group of information concerning the Credit Parties or
their Affiliates (including information concerning the ability of the Credit Parties to perform
their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other
matter shall give rise to any fiduciary, equitable or contractual duties (including without
limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the
Agent’s Group to any Lender, any Issuing Bank, the Swing Loan Bank or the Overdraft Loan Bank
including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of
customers (including the Credit Parties or their Affiliates) or for its own account.

          12.07. Successor Administrative Agents; Resignation of Administrative Agents.

          (a) The Administrative Agent may at any time give notice of its resignation to the parties
hereto. Upon receipt of any such notice of resignation, the Requisite Lenders shall have the
right, in consultation with the Borrowers, to appoint a successor, which shall be a bank with an
office in New York, New York, or an Affiliate of any such bank with an office in New York, New
York. If no such successor shall have been so appointed by the Requisite Lenders and shall have
accepted such appointment within 30 days after the retiring Administrative Agent gives notice of
its resignation (such 30-day period, the “Lender Party Appointment Period”), then the
retiring Administrative Agent may on behalf of the Lenders, the Issuing Banks, the Swing Loan Bank
and the Overdraft Loan Bank, appoint a successor Administrative Agent meeting the qualifications
set forth above. In addition and without any obligation on the part of the retiring Administrative
Agent to appoint, on behalf of the Lenders, the Issuing Banks, the Swing Loan Bank and the
Overdraft Loan Bank, a successor Administrative Agent, the retiring Administrative Agent may at any
time upon or after the end of the Lender Party Appointment Period notify the Borrower, the Lenders,
the Issuing Banks, the Swing Loan Bank and the Overdraft Loan Bank that no qualifying Person has
accepted appointment as successor Administrative Agent and the effective date of such retiring
Administrative Agent’s resignation. Upon the resignation effective date established in such notice
and regardless of whether a successor Administrative Agent has been appointed and accepted such
appointment, the retiring Administrative Agent’s resignation shall nonetheless become effective and
(i) the retiring Administrative Agent shall be discharged from its duties and obligations as
Administrative Agent hereunder and under the other Loan Documents and (ii) all payments,
communications and determinations provided to be made by, to or through the Administrative Agent
shall instead be made by or to each Lender, each Issuing Bank, the Swing Loan Bank and the
Overdraft Loan Bank directly, until such time as the Requisite Lenders appoint a successor
Administrative Agent as provided for above in this paragraph. Upon the acceptance of a successor’s
appointment as

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Administrative Agent hereunder, such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties as Administrative Agent of the retiring (or retired)
Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its
duties and obligations as Administrative Agent hereunder or under the other Loan Documents (if not
already discharged therefrom as provided above in this paragraph). The fees payable by the
Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring Administrative
Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article
and Sections 14.02 and 14.03 shall continue in effect for the benefit of such retiring
Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as
Administrative Agent.

          (b) Any resignation pursuant to this Section by a Person acting as Administrative Agent shall,
unless such Person shall notify the other parties hereto otherwise, also act to relieve such Person
and its Affiliates of any obligation to advance or issue new, or extend existing, Swing Loans,
Overdraft Loans or Letters of Credit where such advance, issuance or extension is to occur on or
after the effective date of such resignation. Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, (i) such successor shall succeed to and become vested with all of
the rights, powers, privileges and duties of the retiring Issuing Bank, Overdraft Loan Bank and/or
Swing Loan Bank, (ii) the retiring Issuing Bank, Overdraft Loan Bank and/or Swing Loan Bank shall
be discharged from all of their respective duties and obligations hereunder or under the other Loan
Documents, (iii) the successor Swing Loan Bank shall enter into an Assignment and Acceptance and
acquire from the retiring Swing Loan Bank each outstanding Swing Loan of such retiring Swing Loan
Bank for a purchase price equal to par plus accrued interest and (iv) the successor Overdraft Loan
Bank shall enter into an Assignment and Acceptance and acquire from the retiring Overdraft Loan
Bank each outstanding Overdraft Loan of such retiring Swing Loan Bank for a purchase price equal to
par plus accrued interest.

          (c) In addition to the foregoing, if a Lender becomes, and during the period it remains, a
Defaulting Lender or a Potential Defaulting Lender, each Issuing Bank, the Swing Loan Bank and/or
the Overdraft Loan Bank may, upon prior written notice to the Borrowers and the Administrative
Agent, resign as an Issuing Bank, Swing Loan Bank or Overdraft Loan Bank, respectively, effective
at the close of business New York time on a date specified in such notice (which date may not be
less than ten 10 Business Days after the date of such notice); provided that:

     (i) such resignation by such Issuing Bank will have no effect on the validity or
enforceability of any Letter of Credit then outstanding that was issued by it or on
its behalf or on the obligations of any Borrower or any Lender under this Agreement
with respect to any such outstanding Letter of Credit or otherwise to such Issuing
Bank;

     (ii) such resignation by the Swing Loan Bank will have no effect on its rights
in respect of any outstanding Swing Loans or on the obligations of any Borrower or any
Lender under this Agreement with respect to any such outstanding Swing Loan; and

     (iii) such resignation by the Overdraft Loan Bank will have no effect on its
rights in respect of any outstanding Overdraft Loans or on the obligations of any
Borrower or any Lender under this Agreement with respect to any such outstanding
Overdraft Loan.

          12.08. Relations Among Lenders. Each Lender and each Issuing Bank agrees that it
shall not take any legal action, nor institute any actions or proceedings, against any Borrower or
any other obligor hereunder or with respect to any Collateral without the prior written consent of
the Requisite Lenders. Without limiting the generality of the foregoing, no Lender may accelerate
or otherwise enforce

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its portion of the Obligations, or terminate its Commitments except in accordance with
Section 11.02(a) or a setoff permitted under Section 14.05.

          12.09. Concerning the Collateral and the Loan Documents.

          (a) Protective Advances. The Administrative Agent may from time to time, from and
after the occurrence and during the continuance of a Default or an Event of Default, make such
disbursements and advances to or for the account of any Borrower pursuant to the Loan Documents
which the Administrative Agent in its sole discretion, deems necessary or desirable to preserve or
protect the Collateral under the applicable Credit Facility or any portion thereof or to enhance
the likelihood or maximize the amount of repayment of the Loans and other Obligations up to an
amount not in excess of the lesser of (i) an amount equal to (A) the aggregate Commitments under
all Credit Facilities less (B) the sum of the aggregate Credit Facility Outstandings and
(ii) $5,000,000 in the aggregate for all Credit Facilities with respect to advances made by the
Administrative Agent (“Protective Advances”). The Administrative Agent shall notify the
Borrowers and each Lender in writing of each such Protective Advance, which notice shall include a
description of the purpose of such Protective Advance. The Domestic Borrowers jointly and
severally agree and the Multicurrency Borrowers jointly and severally agree to pay the
Administrative Agent, upon demand, the principal amount of all outstanding Protective Advances
under the applicable Credit Facility, together with interest thereon at the rate from time to time
applicable to Floating Rate Loans under such Credit Facility from the date of such Protective
Advance until the outstanding principal balance thereof is paid in full. If the applicable
Borrower(s) fail to make payment in respect of any Protective Advance within one (1) Business Day
after the date such Borrower receives written demand therefor from the Administrative Agent, the
Administrative Agent shall promptly notify each Lender under the applicable Credit Facility and
such Lender agrees that it shall thereupon make available to the Administrative Agent, in Dollars
in immediately available funds, the amount equal to such Lender’s Pro Rata Share under the
applicable Credit Facility of such Protective Advance. If such funds are not made available to the
Administrative Agent by such Lender within one (1) Business Day after the Administrative Agent’s
demand therefor, the Administrative Agent shall be entitled to recover any such amount from such
Lender together with interest thereon at the interest rate applicable to the Loans for each day
during the period commencing on the date of such demand and ending on the date such amount is
received. The failure of any Lender to make available to the Administrative Agent such Pro Rata
Share of any such Protective Advance shall neither relieve any other Lender of its obligation
hereunder to make available to the Administrative Agent such other Lender’s Pro Rata Share under
the applicable Credit Facility of such Protective Advance on the date such payment is to be made
nor increase the obligation of any other Lender to make such payment to the Administrative Agent.
All outstanding principal of, and interest on, Protective Advances shall constitute Obligations
secured by the Collateral until paid in full by the applicable Borrower(s).

          (b) Authority. Each Lender and each Issuing Bank authorizes and directs the
Administrative Agent to enter into the Loan Documents relating to the Collateral for the benefit of
the Lenders and the Issuing Banks. Each Lender and each Issuing Bank agrees that any action taken
by the Administrative Agent or the Requisite Lenders (or, where required by the express terms
hereof, a different proportion of the Lenders) in accordance with the provisions hereof or of the
other Loan Documents, and the exercise by the Administrative Agent or the Requisite Lenders (or,
where so required, such different proportion) of the powers set forth herein or therein, together
with such other powers as are reasonably incidental thereto, shall be authorized and binding upon
all of the Lenders and Issuing Banks. Without limiting the generality of the foregoing, the
Administrative Agent shall have the sole and exclusive right and authority to (i) act as the
disbursing and collecting agent for the Lenders and the Issuing Banks under the Credit Facilities
with respect to all payments and collections arising in connection herewith and with the Loan
Documents relating to the Collateral; (ii) execute and deliver each

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Loan Document relating to the Collateral and accept delivery of each such agreement delivered by any
Credit Party; (iii) act as collateral agent for the Lenders and the Issuing Banks for purposes
of the perfection of all security interests and Liens created by such agreements and all other
purposes stated therein, provided, however, the Administrative Agent hereby appoints, authorizes
and directs each Lender and each Issuing Bank to act as collateral sub-agent for the Administrative
Agent, the Lenders and the Issuing Banks for purposes of the perfection of all security interests
and Liens with respect to the Property at any time in the possession of such Lender or such Issuing
Bank, including, without limitation, the Credit Parties’ respective deposit accounts maintained
with, and cash and Cash Equivalents held by, such Lender or such Issuing Bank; (iv) manage,
supervise and otherwise deal with the Collateral; (v) take such action as is necessary or desirable
to maintain the perfection and priority of the security interests and Liens created or purported to
be created by the Loan Documents; and (vi) except as may be otherwise specifically restricted by
the terms hereof or of any other Loan Document, exercise all remedies given to the Administrative
Agent, the Lenders or the Issuing Banks with respect to the Collateral under the Loan Documents
relating thereto, applicable law or otherwise.

          (c) Release of Collateral.

     (i) Each of the Lenders and the Issuing Banks hereby directs the Administrative
Agent to release any Lien held by the Administrative Agent for the benefit of the
Administrative Agent, the Lenders, the Issuing Banks and the other Holders:

(A) against all of the Collateral, upon final Payment In Full of the Obligations
and termination of the Commitments and this Agreement;

(B) against any part of the Collateral sold or disposed of by any Borrower or any
Borrower Subsidiary, if such sale or disposition is permitted by Section
3.06, 9.02 or 9.06 and certified to the Administrative Agent by
such Borrower in an officer’s certificate (or permitted pursuant to a waiver or
consent of a transaction otherwise prohibited by such Section) or, if not pursuant
to such sale or disposition, against any part of the Collateral, if such release is
consented to by Lenders whose aggregate Pro Rata Shares under all Credit Facilities,
in the aggregate, are equal to 100%;

(C) against the Foreign Collateral if the Multicurrency Commitment has been
terminated and permanently reduced to zero and the Multicurrency Obligations have
been Paid in Full; and

(D) against Holding BV’s 65% pledge of the Capital Stock of NMH International
securing the Obligations under Domestic Facility at any time that the following
conditions are satisfied:

(i) no Default or Event of Default is continuing at the time of such
release;

(ii) no Capital Stock of NMH International is pledged to secure the
obligations under the Permitted Term B Loans at the time of such release;
and

(iii) NMH International is not a First Tier Foreign Subsidiary at the time
of such release.

     (ii) Each of the Lenders and the Issuing Banks hereby directs the Administrative
Agent to execute and deliver or file such termination and partial release statements
and do

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such other things as are necessary to release Liens to be released pursuant to
this Section 12.09(c) promptly upon the effectiveness of any such release.

          (d) No Obligation. Without limiting the generality of Section 12.03, the
Administrative Agent shall not have any obligation whatsoever to any Lender or to any other Person
to assure that the Collateral exists, is owned by any Credit Party, is cared for, protected or
insured or has been encumbered or that the Liens granted to the Administrative Agent herein or
pursuant to the Loan Documents have been properly or sufficiently or lawfully created, perfected,
protected or enforced or are entitled to any particular priority, or to exercise at all or in any
particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any
of the rights, authorities and powers granted or available to the Administrative Agent in this
Section 12.09 or in any of the Loan Documents, it being understood and agreed that in
respect of the Collateral, or any act, omission or event related thereto, the Administrative Agent
may act in any manner it may deem appropriate, in its sole discretion, given the Administrative
Agent’s own interests in the Collateral as one of the Lenders and that the Administrative Agent
shall not have any duty or liability whatsoever to any Lender, any Issuing Bank or any other
Holder; provided, however, that the Administrative Agent shall not be relieved of any liability
imposed by law for gross negligence or willful misconduct.

          (e) Dutch Pledges. For the purpose of the Dutch Pledges only:

     (i) In connection with the Obligations of each Borrower towards any Lender, any
Issuing Bank or any Holder (each an “Obligee” and collectively the
“Obligees”), each of the parties to this Agreement agrees that CNAI shall, to the
extent CNAI is not a creditor itself in respect of such Obligations, be a “joint and several
co-creditor” with such Obligee in respect of such Obligations. Accordingly, CNAI shall be
entitled to demand as a creditor performance in full of such Obligations by the relevant
Borrower owing the same, whereby satisfaction of such Obligations owed to one creditor
(either CNAI or the relevant Obligee) shall release such Borrower from its obligations to
the other creditor.

     (ii) If and to the extent that, notwithstanding Section 14.14, Dutch law
applies to this Section 12.09(e), this Agreement constitutes a management agreement
(beheersregeling) within the meaning of Section 3:168 of the Dutch Civil Code among CNAI and
the Obligees; CNAI and the Obligees exclude among them to the greatest extent possible, the
applicability of title 7 of book 3 of the Dutch Civil Code with respect to the Obligations.

     (iii) The rights of pledge created or to be created by the Dutch Pledges are granted
by the applicable Credit Parties to CNAI, as Administrative Agent. Such rights of pledge
are therefore not held among the Obligees and CNAI in a community of property (gemeenschap)
within the meaning of Section 3:166 of the Dutch Civil Code.

          (f) Italian Pledges. For the purpose of the Italian Pledges only, in connection with
the Obligations of each Borrower towards any Obligee, each of the parties to this Agreement agrees
that CNAI shall, to the extent CNAI is not a creditor itself in respect of such Obligations, be a
“joint and several co-creditor” with such Obligee in respect of such Obligations. Accordingly,
CNAI shall be entitled to demand as a creditor performance in full of such Obligations by the
relevant Borrower owing the same, whereby satisfaction of such Obligations owed to one creditor
(either CNAI or the relevant Obligee) shall release such Borrower from its obligations to the other
creditor.

          12.10. No Reliance on Administrative Agent’s Customer Identification Program. Each
Lender acknowledges and agrees that neither such Lender, nor any of its Affiliates, participants or
assignees, may rely on the Administrative Agent to carry out such Lender’s, Affiliate’s,
participant’s or

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assignee’s customer identification program, or other obligations required or
imposed under or pursuant to the USA Patriot Act or the regulations thereunder, including the
regulations contained in 31 C.F.R. 103.121 (as hereafter amended or replaced, the “CIP
Regulations”), or any other Anti-Terrorism Law,
including any programs involving any of the following items relating to or in connection with
any of the Borrowers, Borrower Subsidiaries, their Affiliates or their agents, the Loan Documents
or the transactions hereunder or contemplated hereby: (a) any identity verification procedures, (b)
any recordkeeping, (c) comparisons with government lists, (d) customer notices or (e) other
procedures required under the CIP Regulations or such other Anti-Terrorism Laws.

          12.11. USA Patriot Act. On the Closing Date and at such other times as are required
under the USA Patriot Act, each Lender and each of its assignees and participants that is not
incorporated under the laws of the United States of America or a state thereof (and is not excepted
from the certification requirement contained in Section 313 of the USA Patriot Act and the
applicable regulations because it is both (a) an affiliate of a depository institution or foreign
bank that maintains a physical presence in the United States or foreign country, and (b) subject to
supervision by a banking authority regulating such affiliated depository institution or foreign
bank) shall deliver to the Administrative Agent the certification, or, if applicable,
recertification, certifying that such Lender is not a “shell” and certifying to other matters as
required by Section 313 of the USA Patriot Act and the applicable regulations.

          12.12. Delegation of Duties. The Administrative Agent may perform any and all of its
duties and exercise its rights and powers hereunder or under any other Loan Document by or through
any one or more sub agents appointed by the Administrative Agent. The Administrative Agent and any
such sub agent may perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. Each such sub agent and the Related Parties of the
Administrative Agent and each such sub agent shall be entitled to the benefits of all provisions of
this Article XII and Sections 14.02 and 14.03 (as though such sub-agents were the
“Administrative Agent” under the Loan Documents) as if set forth in full herein with respect
thereto.

          12.13. Non-Reliance on Administrative Agent and other Lenders.

          (a) Each Lender, each Issuing Bank, the Overdraft Loan Bank and the Swing Loan Bank confirms
to the Administrative Agent, each Lender, each Issuing Bank, the Swing Loan Bank and the Overdraft
Loan Bank and each of their respective Related Parties that it (i) possesses (individually or
through its Related Parties) such knowledge and experience in financial and business matters that
it is capable, without reliance on the Administrative Agent, any Lender, any Issuing Bank, the
Swing Loan Bank, the Overdraft Loan Bank or any of their respective Related Parties, of evaluating
the merits and risks (including tax, legal, regulatory, credit, accounting and other financial
matters) of (x) entering into this Agreement, (y) making Loans and other extensions of credit
hereunder and under the other Loan Documents and (z) in taking or not taking actions hereunder and
thereunder, (ii) is financially able to bear such risks and (iii) has determined that entering into
this Agreement and making Loans and other extensions of credit hereunder and under the other Loan
Documents is suitable and appropriate for it.

          (b) Each Lender, each Issuing Bank, the Swing Loan Bank and the Overdraft Loan Bank
acknowledges that (i) it is solely responsible for making its own independent appraisal and
investigation of all risks arising under or in connection with this Agreement and the other Loan
Documents, (ii) that it has, independently and without reliance upon the Administrative Agent, any
Lender, any Issuing Bank, the Swing Loan Bank, the Overdraft Loan Bank or any of their respective
Related Parties, made its own appraisal and investigation of all risks associated with, and its own
credit analysis and decision to enter into, this Agreement based on such documents and information,
as it has deemed appropriate and (iii) it will, independently and without reliance upon the
Administrative Agent, any Lender, any Issuing Bank, the Swing Loan Bank, the Overdraft Loan Bank or
any of their respective

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Related Parties, continue to be solely responsible for making its own
appraisal and investigation of all risks arising under or in connection with, and its own credit
analysis and decision to take or not take
action under, this Agreement and the other Loan Documents based on such documents and
information as it shall from time to time deem appropriate, which may include, in each case:

     (i) the financial condition, status and capitalization of the Credit Parties;

     (ii) the legality, validity, effectiveness, adequacy or enforceability of this
Agreement and each other Loan Document and any other agreement, arrangement or document
entered into, made or executed in anticipation of, under or in connection with any Loan
Document;

     (iii) determining compliance or non-compliance with any condition hereunder to the
making of a Loan, or the issuance of a Letter of Credit and the form and substance of all
evidence delivered in connection with establishing the satisfaction of each such condition;

     (iv) the adequacy, accuracy and/or completeness of any information delivered by the
Administrative Agent, any Lender, any Issuing Bank, the Swing Loan Bank, the Overdraft Loan
Bank or by any of their respective Related Parties under or in connection with this
Agreement or any other Loan Document, the transactions contemplated hereby and thereby or
any other agreement, arrangement or document entered into, made or executed in anticipation
of, under or in connection with any Loan Document.

ARTICLE XIII

CO-BORROWER PROVISIONS

               13.01. Domestic Borrowers. Each of the Domestic Borrowers hereby irrevocably
designates, appoints and authorizes each other Domestic Borrower as its agent and attorney-in-fact
to take actions under this Agreement and the other Loan Documents, together with such powers as are
reasonably incidental thereto. The Administrative Agent, the Issuing Banks and the Lenders shall
be entitled to rely, and shall be fully protected in relying, upon any communication from or to any
Domestic Borrower as having been delivered by or to all Domestic Borrowers. Any action taken by
one Domestic Borrower under this Agreement and the other Loan Documents shall be binding upon the
other Domestic Borrowers. Each Domestic Borrower agrees that it is jointly and severally liable to
the Administrative Agent, the Issuing Banks and the Lenders for the payment of the Domestic
Obligations and that such liability is independent of the Obligations of the other Borrowers and
whether such Obligations become unenforceable against any other Borrower.

               13.02. Multicurrency Borrowers. Each of the Multicurrency Borrowers hereby
irrevocably designates, appoints and authorizes each other Multicurrency Borrower as its agent and
attorney-in-fact to take actions under this Agreement and the other Loan Documents, together with
such powers as are reasonably incidental thereto. The Administrative Agent, the Issuing Banks and
the Lenders shall be entitled to rely, and shall be fully protected in relying, upon any
communication from or to any Multicurrency Borrower as having been delivered by or to all
Multicurrency Borrowers. Any action taken by one Multicurrency Borrower under this Agreement and
the other Loan Documents shall be binding on the other Multicurrency Borrowers. Each Multicurrency
Borrower agrees that it is jointly and severally liable to the Administrative Agent, the Issuing
Banks and the Lenders for the payment of the Multicurrency Obligations and that such liability is
independent of the Multicurrency Obligations of the other Multicurrency Borrowers and whether such
Multicurrency Obligations become unenforceable against the other Multicurrency Borrowers.

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          13.03. Separate Actions. A separate action or actions may be brought and prosecuted
against any Borrower whether such action is brought against any other Borrower or whether any other
Borrower is joined in such action or actions. Each Borrower authorizes the Administrative Agent
and the Lenders to release the other Borrowers without in any manner or to any extent affecting the
liability of such Borrower hereunder or under the Loan Documents. Each Borrower waives any
defense arising by reason of any disability or other defense of any other Borrower, or the
cessation for any reason whatsoever of the liability of any other Borrower with respect to any of
the Obligations, or any claim that any Borrower’s liability hereunder exceeds or is more burdensome
than the liability of any other Borrower or Borrowers.

          13.04. Obligations Absolute and Unconditional. Each Borrower hereby agrees that its
Obligations hereunder and under the Loan Documents shall be unconditional, irrespective of:

          (a) the validity, enforceability, avoidance or subordination of any of the Obligations or any
of the Loan Documents as to any other Borrower;

          (b) the absence of any attempt by, or on behalf of, the Administrative Agent, the Issuing
Banks or any of the Lenders to collect, or to take any other action to enforce, all or any part of
the Obligations whether from or against any Borrower or any other Person liable for such
Obligations;

          (c) the election of any remedy available under the Loan Documents or applicable Requirements
of Law by, or on behalf of, the Administrative Agent, the Issuing Banks or any of the Lenders with
respect to all or any part of the Obligations;

          (d) the waiver, consent, extension, forbearance or granting of any indulgence by, or on behalf
of, the Administrative Agent, the Issuing Banks or any of the Lenders with respect to any provision
of any of the Loan Documents;

          (e) the failure of the Administrative Agent, the Issuing Banks or any of the Lenders to take
any steps to perfect and maintain its security interest in, or to preserve its rights to, any
security or collateral for the Obligations;

          (f) the election by, or on behalf of, the Administrative Agent, the Issuing Banks or any of
the Lenders, in any proceeding which constitutes a Bankruptcy Event, involving any other Borrower
of any right which is comparable to the rights set forth in Section 1111(b)(2) of the Bankruptcy
Code;

          (g) any borrowing or grant of a security interest by any other Borrower, or any receiver or
assignee following the occurrence of a Bankruptcy Event, pursuant to any provision of applicable
law comparable to Section 364 of the Bankruptcy Code;

          (h) the disallowance, under any provision of applicable law comparable to Section 502 of the
Bankruptcy Code, of all or any portion of the claims against any Borrower held by any of the
Lenders, the Issuing Banks or the Administrative Agent, for repayment of all or any part of the
Obligations;

          (i) the insolvency of any other Borrower; and

          (j) any other circumstance which might otherwise constitute a legal or equitable discharge or
defense of any Borrower (other than Payment In Full of the Obligations).

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          13.05. Waivers and Acknowledgements.

          (a) Except as otherwise expressly provided under any provision of the Loan Documents or as
required by any mandatory provision of applicable Requirements of Law, each Borrower hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of
receivership, insolvency or bankruptcy of any Borrower or any other Person, protest or notice with
respect to the Obligations, all setoffs and counterclaims and all presentments, demands for
performance, notices of nonperformance, protests, notices of protest, notices of dishonor and
notices of acceptance of this Agreement and the other Loan Documents, the benefits of all statutes
of limitation, and all other demands whatsoever (and shall not require that the same be made on any
other Borrower as a condition precedent to such other Borrower’s Obligations hereunder), and
covenants that this Agreement (and the joint and several liability of each Domestic Borrower under
Section 13.01 and the joint and several liability of each Multicurrency Borrower under
Section 13.02) will not be discharged, except by Payment In Full of the Obligations. Each
Borrower further waives all notices of the existence, creation or incurring of new or additional
Indebtedness, arising either from additional loans extended to any other Borrower or otherwise, and
also waives all notices that the principal amount, or any portion thereof, and/or any interest on
any instrument or document evidencing all or any part of the Obligations is due, notices of any and
all proceedings to collect from the maker, any endorser or any other Guarantor of all or any part
of the Obligations, or from any other Person, and, to the extent permitted by law, notices of
exchange, sale, surrender or other handling of any security or Collateral given to the
Administrative Agent, the Issuing Banks or any of the Lenders to secure payment of all or any part
of the Obligations.

          (b) The Administrative Agent, the Issuing Banks and/or the Lenders are hereby authorized,
without notice or demand and without affecting the liability of the Borrowers hereunder, from time
to time, (i) to accept partial payments on all or any part of the Obligations; (ii) to take and
hold security or Collateral for the payment of all or any part of the Obligations, this Agreement,
or any other guaranties of all or any part of the Obligations or other liabilities of the
Borrowers, and (iii) to settle, release, exchange, enforce, waive, compromise or collect or
otherwise liquidate all or any part of the Obligations, this Agreement, any guaranty of all or any
part of the Obligations, and, subject to the terms of the relevant Security Documents, any security
or Collateral for the Obligations or for any such guaranty, irrespective of the effect on the
contribution or subrogation rights of the Borrowers. Any of the foregoing may be done in any
manner, without affecting or impairing the obligations of each Borrower hereunder.

          13.06. Contribution Among Borrowers.

          (a) To the extent that any Domestic Borrower shall make a payment under this Agreement (a
“DB Payment”) which, taking into account all other DB Payments then previously or
concurrently made by any other Domestic Borrower, exceeds the amount which otherwise would have
been paid by or attributable to such Domestic Borrower if each Domestic Borrower had paid the
aggregate Obligations satisfied by such Domestic Borrower in the same proportion as such Domestic
Borrower’s “DB Allocable Amount” (as defined below) (as determined immediately prior to such DB
Payment) bore to the aggregate DB Allocable Amounts of each of the Domestic Borrowers as determined
immediately prior to the making of such DB Payment, then, following indefeasible payment in
full in cash of the DB Payment and the Obligations, the termination or expiry of all Commitments
and Letters of Credit, such Domestic Borrower shall be entitled to receive contribution and
indemnification payments from, and be reimbursed by, each other Domestic Borrower for the amount of
such excess, pro rata based upon their respective DB Allocable Amounts in effect
immediately prior to such DB Payment.

          (b) To the extent that any Multicurrency Borrower shall make a payment under this Agreement (a
“MB Payment”) which, taking into account all other MB Payments then previously or

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concurrently made by any other Multicurrency Borrower, exceeds the amount which otherwise
would have been paid by or attributable to such Multicurrency Borrower if each Multicurrency
Borrower had paid the aggregate Obligations satisfied by such Multicurrency Borrower in the same
proportion as such Multicurrency Borrower’s “MB Allocable Amount” (as defined below) (as determined
immediately prior to such MB Payment) bore to the aggregate MB Allocable Amounts of each of the
Multicurrency Borrowers as determined immediately prior to the making of such MB Payment,
then, following indefeasible payment in full in cash of the MB Payment and the Obligations,
the termination or expiry of all Commitments and Letters of Credit, such Multicurrency Borrower
shall be entitled to receive contribution and indemnification payments from, and be reimbursed by,
each other Multicurrency Borrower for the amount of such excess, pro rata based
upon their respective MB Allocable Amounts in effect immediately prior to such MB Payment.

          (c) As of any date of determination, the “DB Allocable Amount” of any Domestic
Borrower shall be equal to the excess of the fair saleable value of the property of such Domestic
over the total liabilities of such Domestic Borrower (including the maximum amount reasonably
expected to become due in respect of contingent liabilities, calculated, without duplication,
assuming each other Domestic Borrower that is also liable for such contingent liability pays its
ratable share thereof), giving effect to all payments made by other Domestic Borrowers as of such
date in a manner to maximize the amount of such contributions.

          (d) As of any date of determination, the “MB Allocable Amount” of any Multicurrency
Borrower shall be equal to the excess of the fair saleable value of the property of such
Multicurrency Borrower over the total liabilities of such Multicurrency Borrower (including the
maximum amount reasonably expected to become due in respect of contingent liabilities, calculated,
without duplication, assuming each other Multicurrency Borrower that is also liable for such
contingent liability pays its ratable share thereof), giving effect to all payments made by other
Multicurrency Borrowers as of such date in a manner to maximize the amount of such contributions.

          (e) Notwithstanding any other provision of this Agreement, the amount guaranteed by each
Borrower hereunder shall be limited to the extent, if any, required so that its obligations
hereunder shall not be subject to avoidance under Section 548 of the Bankruptcy Code or under any
applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar
statute or common law. In determining the limitations, if any, on the amount of any Borrower’s
obligations hereunder pursuant to the preceding sentence, it is the intention of the parties hereto
that any rights of subrogation or contribution which such Borrower may have under this Agreement,
any other agreement or applicable law shall be taken into account.

          (f) The parties hereto acknowledge that the rights of contribution and indemnification
hereunder shall constitute assets of the Borrower or Borrowers to which such contribution and
indemnification is owing.

          (g) The rights of the indemnifying Borrowers against other Borrowers under this Section
13.06 shall be exercisable upon the full and indefeasible payment of the Obligations in cash,
the termination or expiry of the Commitments and all Letters of Credit (or in the case of all
Letters of Credit, full collateralization (by cash or letters of credit) on terms reasonably
acceptable to the Administrative Agent) and the termination of this Agreement

          (h) This Section 13.06(c) is intended only to define the relative rights of the
Borrowers, and nothing set forth in this Section 13.06(c) is intended to or shall impair
the obligations of the Borrowers, jointly and severally, to pay any amounts as and when the same
shall become due and payable in accordance with the terms of this Borrowers.

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          13.07. Subrogation. Until the Obligations shall have been Paid In Full, each Borrower
hereby agrees that it (i) shall have no right of subrogation with respect to such Obligations
(under contract, Section 509 of the Bankruptcy Code or any comparable provision of any other
applicable law, or otherwise) or any other right of indemnity, reimbursement or contribution, and
(ii) hereby waives any right to enforce any remedy which the Administrative Agent, any of the
Lenders or the Issuing Banks now have or may hereafter have against the other Borrowers, any
endorser or any other Guarantor of all or any part of the Obligations or any other Person, and each
Borrower hereby waives any benefit of, and any right to participate in, any security or Collateral
given to the Administrative Agent, the Lenders and the Issuing Banks to secure the payment or
performance of all or any part of the Obligations or any other liability of the other Borrowers to
the Administrative Agent, the Lenders and the Issuing Banks.

          13.08. Subordination. Each Borrower agrees that any and all claims of such Borrower
against the other Borrowers, any Guarantors or any endorser or other guarantor of all or any part
of the Obligations, or against any of their respective properties, shall be subordinated to all of
the Obligations. Notwithstanding any right of any Borrower to ask for, demand, sue for, take or
receive any payment from the other Borrowers, all rights and Liens of such Borrower, whether now or
hereafter arising and howsoever existing, in any assets of the other Borrowers (whether
constituting part of the Collateral or otherwise) shall be and hereby are subordinated to the
rights of the Administrative Agent, the Issuing Banks or the Lenders in those assets. Such
Borrower shall have no right to possession of any such asset or to foreclose upon any such asset,
whether by judicial action or otherwise, unless and until all of the Obligations shall have been
Paid In Full and any Commitments of the Lenders and the Issuing Banks under, or in respect of, the
Credit Facilities have terminated. If all or any part of the assets of any Borrower, or the
proceeds thereof, are subject to any distribution, division or application to the creditors of such
Borrower, whether partial or complete, voluntary or involuntary, and whether by reason of
liquidation, bankruptcy, arrangement, receivership, assignment for the benefit of creditors or any
other action or proceeding, or if the business of any Borrower is dissolved or if substantially all
of the assets of any Borrower are sold, then, and in any such event, any payment or distribution of
any kind or character, either in cash, securities or other property, which shall be payable or
deliverable upon or with respect to any Indebtedness of any Borrower to any other Borrower
(“Inter-Borrower Indebtedness”) shall be paid or delivered directly to the Administrative
Agent for application to the applicable Obligations, due or to become due, until such Obligations
shall have first been Paid In Full and all Commitments of the Lenders and the Issuing Banks under,
or in respect of, each Credit Facility, have terminated. Each Borrower irrevocably authorizes and
empowers the Administrative Agent, and each of the Lenders and the Issuing Banks to demand, sue
for, collect and receive every such payment or distribution and give acquittance therefor and to
make and present for and on behalf of such Borrower such proofs of claim and take such other
action, in the Administrative Agent’s, such Lender’s or such Issuing Bank’s own name or in the name
of such Borrower or otherwise, as the Administrative Agent, any Lender or any Issuing Bank may deem
reasonably necessary or reasonably advisable for the enforcement of this Agreement. After the
occurrence and during the continuance of an Event of Default, each Lender and each Issuing Bank may
vote, with respect to the Obligations owed to it, such proofs of claim in any such proceeding,
receive and collect any and all dividends or other payments or disbursements made thereon in
whatever form the same may be paid or issued and apply the same on account of any of the
Obligations. Except as permitted under Section 9.06(b), should any payment, distribution,
security or instrument or proceeds thereof be received by any Borrower upon or with respect to the
Inter-Borrower Indebtedness prior to the Payment In Full of all of the Obligations and the
termination of all Commitments, such Borrower shall receive and hold the same in trust, as trustee,
for the benefit of the Administrative Agent, the Issuing Banks and the Lenders and shall forthwith
deliver the same to the Administrative Agent in precisely the form received (accompanied by the
endorsement or assignment of such Borrower where necessary), for application to the Obligations,
due or not due, and, until so delivered, the same shall be held in trust by such Borrower as the
property of the Administrative Agent, the Issuing Banks and the Multicurrency Lenders. After the

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occurrence and during the continuance of an Event of Default, if any Borrower fails to make any such
endorsement or assignment to the Administrative Agent, the Issuing Banks or the Lenders, the
Administrative Agent, the Issuing Banks or the Lenders (or any of their respective officers or
employees) are hereby irrevocably authorized to make the same. Each Borrower agrees that until
the Obligations have been Paid In Full and all Commitments of the Lenders and the Issuing Banks
under or in respect of each Credit Facility have terminated, such Borrower will not assign or
transfer to any Person any claim such Borrower has or may have against any other Borrower (other
than in favor of the Administrative Agent pursuant to the Loan Documents).

ARTICLE XIV

MISCELLANEOUS

          14.01. Lender Assignments and Participations.

          (a) General. No assignments or participations of any Lender’s rights or obligations
hereunder shall be made except in accordance with this Section 14.01.

          (b) Limitations on Assignments. Each Lender may assign to one or more Eligible
Assignees all or a portion of its rights and obligations hereunder (including all of its rights and
obligations with respect to the Revolving Loans and the Letters of Credit) in accordance with the
provisions of this Section 14.01. Each assignment by a Lender shall be subject to the
following conditions: (i) each assignment (other than to a Lender, an Affiliate of a Lender or an
Approved Fund) shall be approved by the Administrative Agent and the Borrowers, which approval
shall not be unreasonably withheld or delayed; provided that the Borrowers shall be deemed
to have consented to any such assignment unless it shall object thereto by written notice to the
Administrative Agent within 5 Business Days after having received notice thereof; (ii) each such
assignment shall be to an Eligible Assignee (for the sake of clarity, no Person shall be considered
an Eligible Assignee under any Credit Facility solely because of its Affiliation with any other
Person to whom an assignment is concurrently being made with respect to the other Credit Facility)
and in the case of an assignment of a Lender’s Multicurrency Commitment, the Administrative Agent
shall be satisfied with such assignee’s (or its Affiliates’) ability to fund in the Specified
Foreign Currencies; (iii) each assignment of a Lender’s Commitment shall be an assignment of the
assigning Lender’s (and, where applicable, its Affiliates’) Commitments in each Credit Facility in
which such Lender (and, if applicable, its Affiliates) then hold Commitments and shall be allocated
to such Credit Facilities as determined by such Lender (and, if applicable, its Affiliates) and
consented to by the Administrative Agent; (iv) each assignment shall be in an amount such that,
after giving effect to such assignment, the Eligible Assignee (and, if applicable, its Affiliates)
shall hold aggregate Commitments in an amount at least equal to $5,000,000 (provided, that more
than one Lender (and, if applicable, its Affiliates) may be the assigning Lender under any such
assignment) except if the Eligible Assignee is a Lender, an Affiliate of a Lender, or an Approved
Fund or if such assignment shall constitute all the assigning Lender’s interest hereunder; and (iv)
the parties to each such assignment shall execute and deliver to the Administrative Agent an
Assignment and Acceptance, and, if such Eligible Assignee is not then a Lender, an Administrative
Questionnaire, for its acceptance and recording in the Register. Upon such execution, delivery,
acceptance and recording in the Register, from and after the effective date specified in each
Assignment and Acceptance and agreed to by the Administrative Agent and NMHG, (x) the assignee
thereunder shall, in addition to any rights and obligations hereunder held by it immediately prior
to such effective date, if any, have the rights and obligations hereunder that have been assigned
to it pursuant to such Assignment and Acceptance and shall, to the fullest extent permitted by law,
have the same rights and benefits hereunder as if it were an original Lender hereunder and (y) the
assigning Lender shall, to the extent that rights and obligations hereunder have been assigned by
it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its
obligations hereunder (and, in the case of an Assignment and Acceptance covering all or the
remaining portion of such assigning

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Lender’s rights and obligations hereunder, the assigning Lender
shall cease to be a party hereto). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not
comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender
of a participation in such rights and obligations in accordance with paragraph (h) of this
Section 14.01. Any assignment by a Lender hereunder (including any assignment of a
Commitment) shall at least include an assignment or transfer of a part of Loan of a principal
amount outstanding at that time of an amount in Dollars at least equivalent to EUR 50,000, unless
it is made to any person which qualifies as a professional market party (professionele marktpartij)
under the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).

          (c) The Register. The Administrative Agent, acting solely for this purpose as an
agent for the Borrowers, shall maintain at its address in effect pursuant to Section 14.08
a copy of each Assignment and Acceptance delivered to and accepted by it and a register (the
“Register”) for the recordation of the names and addresses of the Lenders and the
Commitments of the Lenders under each Credit Facility, the principal amount of the Loans under each
Credit Facility owing to each Lender from time to time and whether such Lender is an original
Lender or the assignee of another Lender pursuant to an Assignment and Acceptance. The Register
shall include an account for each Lender, in which accounts (taken together) shall be recorded (i)
the date and amount of each Borrowing made hereunder, (ii) the effective date and amount of each
Assignment and Acceptance delivered to and accepted by it and the parties thereto, (iii) the amount
of any principal or interest or fees due and payable or to become due and payable from each
Borrower to each Lender hereunder or under the Notes, and (iv) the amount of any sum received by
the Administrative Agent from NMHG Holding, NMHG or any Guarantor hereunder and each Lender’s share
thereof. The entries in the Register shall be conclusive and binding for all purposes, absent
manifest error, and NMHG and each of its Subsidiaries, the Administrative Agent and the Lenders may
treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes
hereof. The Register shall be available for inspection by NMHG or any Lender at any reasonable
time and from time to time upon reasonable prior notice.

          (d) Fee. Upon its receipt of an Assignment and Acceptance executed by the assigning
Lender and an Eligible Assignee and (unless waived by the Administrative Agent) a processing and
recordation fee of $3,500 (payable by the assigning Lender or the assignee, as shall be agreed
between them), the Administrative Agent shall, if such Assignment and Acceptance has been completed
and is in compliance herewith and in substantially the form of Exhibit B hereto, (i) accept
such Assignment and Acceptance, (ii) record the information contained therein in the Register and
(iii) give prompt notice thereof to NMHG and the other Lenders.

          (e) Information Regarding NMHG. Any Lender may, in connection with any assignment or
proposed assignment pursuant to this Section 14.01, disclose to the assignee or proposed
assignee any information relating to NMHG Holding, NMHG or any of NMHG’s Subsidiaries furnished to
such Lender by the Administrative Agent or by or on behalf of any Borrower; provided that, prior to
any such disclosure, such assignee or proposed assignee shall agree (for the Borrowers’ benefit) to
preserve in accordance with Section 14.20 the confidentiality of any confidential
information described therein.

          (f) Lenders’ Creation of Security Interests. Notwithstanding any other provision set
forth herein, any Lender may at any time create a security interest in all or any portion of its
rights hereunder to secure obligations of such Lender, including without limitation, in favor of
any Federal Reserve bank; provided, however, such creation of a security interest shall not release
such assigning Lender from any of its obligations hereunder or substitute such holder of a security
interest for such Lender as a party hereto.

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          (g) Assignments by an Issuing Banks. If any Issuing Bank (or its Affiliate) ceases to
be a Lender hereunder by virtue of any assignment made pursuant to this Section 14.01 and
another Issuing Bank is obligated to Issue Letters of Credit or will become so obligated after such
assignment becomes effective, then, as of the effective date of such cessation, such Issuing Bank’s
obligations to Issue Letters of Credit pursuant to Section 2.02 shall terminate and such
Issuing Bank shall be an Issuing Bank hereunder only with respect to outstanding Letters of Credit
Issued by it prior to such date.

          (h) Participations. Each Lender may sell participations to one or more other
financial institutions in or to all or a portion of its rights and obligations under and in respect
of any and all facilities hereunder (including, without limitation, all or a portion of any or all
of its Commitments hereunder and the Loans owing to it and its undivided interest in the Letters of
Credit) to any Person (the “Participant”); provided, however, that any assignment or
transfer made to a Participant (including any assignment of a Commitment) shall at least include an
assignment or transfer of a part of Loan of a principal amount outstanding at that time of an
amount in Dollars at least equivalent to EUR 50,000, unless it is made to any person which
qualifies as a professional market party (professionele marktpartij) under the Dutch Financial
Markets Supervision Act (Wet op het financieel toezicht); (i) such Lender’s obligations hereunder
(including, without limitation, its Commitments hereunder) shall remain unchanged, (ii) such Lender
shall remain solely responsible to the other parties hereto for the performance of such
obligations, (iii) NMHG Holding, the Borrowers, the Administrative Agent and the other Lenders
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations hereunder and (iv) such Participant’s rights to agree or to restrict such Lender’s
ability to agree to the modification, waiver or release of any of the terms of the Loan Documents
or to the release of any Collateral covered by the Loan Documents, to consent to any action or
failure to act by any party to any of the Loan Documents or any of their respective Subsidiaries or
Affiliates, or to exercise or refrain from exercising any powers or rights which any Lender may
have under or in respect of the Loan Documents or any Collateral, shall be limited to the right to
consent to (A) reduction of the principal of, or rate or amount of interest on the Loans(s) subject
to such participation (other than by the payment or prepayment thereof), (B) postponement of any
scheduled date for any payment of principal of, or interest on, the Loan(s) subject to such
participation (except with respect to any modifications of the applicable provisions relating to
the prepayments of Loans and other Obligations) and (C) release of any guarantor of the Obligations
or all or any substantial portion of the Collateral except for any such release provided in
Section 12.09(c). No holder of a participation in all or any part of the Loans shall be a
“Lender” or a “Holder” for any purposes hereunder by reason of such participation; provided,
however, that each holder of a participation shall have the rights and obligations of a Lender
(including any right to receive payment) under Sections 3.04, 3.05, Sections
3.08, 4.01(f), 4.02(c), 4.02(e), 12.05, 14.02 and
14.05; provided, however, that all requests for any payments pursuant to such Sections
shall be made by a Participant through the Lender granting such participation. The right of each
holder of a participation to receive payment under Sections 3.04, 3.05,
3.08, 4.01(f), 4.02(c), 4.02(e), 12.05, 14.02 and,
provided such Participant agrees to be subject to Section 14.06 as though it were a Lender,
14.05 shall be limited to the lesser of (i) the amounts actually incurred by such holder
for which payment is provided under said Sections and (ii) the amounts that would have been payable
under said Sections by the Borrowers to the Lender granting the participation in respect of the
participated interest to such holder had such participation not been granted. Each Lender shall
promptly notify the Administrative Agent of the identity of any holder of a participation.

          (i) Payment to Participants. Anything herein to the contrary notwithstanding, in the
case of any participation, all amounts payable by the Borrowers under the Loan Documents shall be
calculated and made in the manner and to the parties required hereby as if no such participation
had been sold.

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          14.02. Expenses.

          (a) Generally. The Borrowers jointly and severally agree upon demand to pay, or
reimburse the Administrative Agent for, all of the Administrative Agent’s reasonable internal and
external audit, legal, appraisal, valuation, filing, document duplication and reproduction and
investigation expenses and for all other reasonable out-of-pocket costs and expenses of every type
and nature (including, without limitation, the reasonable fees, expenses and disbursements of the
Administrative Agent’s counsel, Sidley, Austin LLP, local legal counsel, auditors, accountants,
appraisers, printers, insurance and environmental advisers, and other consultants and agents),
incurred by the Administrative Agent in connection with (i) the Administrative Agent’s audit and
investigation of the Borrowers and their Subsidiaries in connection with the preparation,
negotiation, and execution of the Loan Documents and the Administrative Agent’s periodic audits of
the Borrowers and their Subsidiaries; (ii) the preparation, negotiation, execution and
interpretation hereof (including, without limitation, the satisfaction or attempted satisfaction of
any of the conditions set forth in Article V), the other Loan Documents and any proposal
letter or commitment letter issued in connection therewith and the making of the Loans hereunder;
(iii) the creation, perfection or protection of the Liens under the Loan Documents (including,
without limitation, any reasonable fees and expenses for local counsel in various jurisdictions);
(iv) the ongoing administration hereof and of the Loans, including consultation with attorneys in
connection therewith and with respect to the Administrative Agent’s rights and responsibilities
hereunder and under the other Loan Documents; (v) the protection, collection or enforcement of any
of the Obligations or the enforcement of any of the Loan Documents; (vi) the commencement, defense
or intervention in any court proceeding relating in any way to the Obligations, the Property, any
Borrower or any Borrower’s Subsidiaries, this Agreement or any of the other Loan Documents; (vii)
the response to, and preparation for, any subpoena or request for document production with which
the Administrative Agent is served or deposition or other proceeding in which the Administrative
Agent is called to testify, in each case, relating in any way to the Obligations, the Property, any
Borrower or any Borrower’s Subsidiaries, this Agreement or any of the other Loan Documents; and (H)
any amendments, consents, waivers, assignments, restatements, or supplements to any of the Loan
Documents and the preparation, negotiation, and execution of the same.

          (b) After Default. The Borrowers further jointly and severally agree to pay or
reimburse the Administrative Agent, the Issuing Banks and the Lenders upon demand for all
out-of-pocket costs and expenses, including, without limitation, reasonable attorneys’ fees
(including allocated costs of internal counsel and costs of settlement), incurred by the
Administrative Agent, any Issuing Bank or any Lender (i) in enforcing any Loan Document or
Obligation or any security therefor or exercising or enforcing any other right or remedy available
by reason of any Event of Default; (ii) in connection with any refinancing or restructuring of the
credit arrangements provided hereunder in the nature of a “work-out” or in any insolvency or
bankruptcy proceeding; (iii) in commencing, defending or intervening in any litigation or in filing
a petition, complaint, answer, motion or other pleadings in any legal proceeding relating to the
Obligations, the Property, any Borrower or any Borrower’s Subsidiaries and related to or arising
out of the transactions contemplated hereby or by any of the other Loan Documents; and (iv) in
taking any other action in or with respect to any suit or proceeding (bankruptcy or otherwise)
described in clauses (i) through (iii) above.

          14.03. Indemnity. Each Domestic Borrower further jointly and severally agrees,
and each Multicurrency Borrower further jointly and severally agrees, to defend, protect,
indemnify, and hold harmless the Administrative Agent, each and all of the Domestic Lenders (in the
case of the Domestic Borrowers only), each and all of the Multicurrency Lenders (in the case of the
Multicurrency Borrowers only) and the Issuing Banks and each of their respective Affiliates, and
each of such Administrative Agent’s, Lender’s, Issuing Bank’s or Affiliate’s respective officers,
directors, employees, attorneys,

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advisors, representatives, consultants and agents (including, without limitation, those
retained in connection with the satisfaction or attempted satisfaction of any of the conditions set
forth in Article V) (collectively, the “Indemnitees”), in each case from and
against any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, claims, costs, expenses and disbursements of any kind or nature whatsoever (including,
without limitation, the fees and disbursements of counsel for such Indemnitees)(including in
connection with any investigative, administrative or judicial proceeding, whether or not such
Indemnitees shall be designated a party thereto), imposed on, incurred by, or asserted against such
Indemnitees in any manner relating to or arising out of or in connection with (a) this Agreement,
the Proposal Letter, the other Loan Documents, or any act, event or transaction related or
attendant thereto, whether or not any such Indemnitee is a party thereto and whether or not such
transactions are consummated, the making of the Loans, the issuance of and participation in Letters
of Credit hereunder, the management of such Loans or Letters of Credit, the use or intended use of
the proceeds of the Loans or Letters of Credit hereunder, the execution, delivery and/or
performance of Currency Agreements, Commodity Agreements or Interest Rate Contracts, or any of the
other transactions contemplated by the Loan Documents, or (b) any Liabilities and Costs under
Environmental, Health or Safety Requirements of Law arising from or in connection with this
Agreement, the Proposal Letter, the other Loan Documents, or an act, event or transaction attendant
thereto, the past, present or future operations of any Credit Party or any Borrower Subsidiary or
any of their respective predecessors in interest, or, the past, present or future environmental,
health or safety condition of any respective Property of any Credit Party or any Borrower
Subsidiary, the Release or exposure to or presence or suspected Release, exposure to, or presence
of any Contaminant at, on or from any respective current or former Property of any Credit Party or
any Borrower Subsidiary, or other property of third parties (collectively, the “Indemnified
Matters”); provided, however, the Borrowers shall have no obligation to an Indemnitee hereunder
with respect to Indemnified Matters to the extent resulting from the willful misconduct or gross
negligence of such Indemnitee as determined in a final, non-appealable judgment of a court of
competent jurisdiction. To the extent that the undertaking to indemnify, pay and hold harmless set
forth in the preceding sentence may be unenforceable because it is violative of any law or public
policy, each applicable Borrower shall contribute the maximum portion which it is permitted to pay
and satisfy under applicable law, to the payment and satisfaction of all Indemnified Matters
incurred by the Indemnitees. Each Domestic Borrower jointly and severally agrees, and each
Multicurrency Borrower jointly and severally agrees, not to assert any claim against any Indemnitee
on any theory of liability for special, indirect, consequential or punitive damages arising out of,
or in any way in connection with, the Commitments, the Obligations or any other matters governed by
this Agreement and/or the other Loan Documents.

          14.04. Change in Accounting Principles. If any change in the accounting principles
used in the preparation of the most recent Financial Statements is hereafter required or permitted
by the rules, regulations, pronouncements and opinions of the Financial Accounting Standards Board
or the American Institute of Certified Public Accountants (or successors thereto or agencies with
similar functions) and are adopted by NMHG Holding with the agreement of its independent certified
public accountants and such change results in a change in the method of calculation of any of the
covenants, standards or terms found in Article IX and Article X, the parties hereto
agree to enter into negotiations in order to amend such provisions so as to equitably reflect such
change with the desired result that the criteria for evaluating compliance with such covenants,
standards and terms by NMHG Holding shall be the same after such change as if such change had not
been made; provided, however, no change in GAAP that would affect the method of calculation of any
of the covenants, standards or terms shall be given effect in such calculations until such
provisions are amended, in a manner satisfactory to the Requisite Lenders and NMHG Holding, so to
reflect such change in accounting principles.

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          14.05. Setoff. In addition to any Liens granted under the Loan Documents and any
rights now or hereafter granted under applicable law, upon the occurrence and during the
continuance of any Event of Default, each Lender, each Issuing Bank and any Affiliate of any Lender
or Issuing Bank is hereby authorized by each Borrower at any time or from time to time, without
notice to any Person (any such notice being hereby expressly waived) to combine accounts or to set
off and to appropriate and to apply any and all deposits (general or special, including, but not
limited to, indebtedness evidenced by certificates of deposit, whether matured or unmatured (but
not including trust accounts)) and any other Indebtedness at any time held or owing by such Lender,
Issuing Bank or any of their Affiliates to or for the credit or the account of such Borrower
against and on account of the Obligations of any Borrowers to such Lender, Issuing Bank or any of
their Affiliates, including, but not limited to, all Loans and Letters of Credit and all claims of
any nature or description arising out of or in connection herewith, irrespective of whether or not
(i) such Lender or Issuing Bank shall have made any demand hereunder or (ii) the Administrative
Agent, at the request or with the consent of the Requisite Lenders, shall have declared the
principal of and interest on the Loans and other amounts due hereunder to be due and payable as
permitted by Article XI and even though such Obligations may be contingent or unmatured.
Each Lender shall give the applicable Borrower notice of any action taken pursuant to this
Section 14.05 promptly upon the occurrence thereof provided that any failure to do so shall
not limit any right of a Lender to take such action. Each Lender and each Issuing Bank agrees that
it shall not, without the express consent of the Requisite Lenders, and that it shall, to the
extent it is lawfully entitled to do so, upon the request of the Requisite Lenders, exercise its
setoff rights hereunder against any accounts of any Credit Party or any Borrower Subsidiary now or
hereafter maintained with such Lender, such Issuing Bank or any Affiliate of such Lender or Issuing
Bank.

          14.06. Ratable Sharing. The Lenders and the Issuing Banks agree among themselves
that, except as otherwise expressly provided in any Loan Document,

          (a) with respect to all amounts received by a Domestic Lender, an Issuing Bank or a
Multicurrency Lender, as the case may be, which are applicable to the payment of the Obligations
(excluding (x) the fees described in Sections 2.02(g), 3.04, 3.05,
3.08, 4.01(f) and 4.02 and (y) and amounts so received in respect of
Currency Agreements, Commodity Agreements and/or Interest Rate Contracts) equitable adjustment
shall be made so that, in effect, (i) all such amounts with respect to the Domestic Obligations
shall be shared among the Domestic Lenders and the Issuing Banks ratably in accordance with their
Pro Rata Shares of the Domestic Facility and (ii) all such amounts with respect to the
Multicurrency Obligations shall be shared among the Multicurrency Lenders and the Issuing Banks
ratably in accordance with their Pro Rata Shares of the Multicurrency Facility, whether received by
voluntary payment, by the exercise of the right of setoff or banker’s lien, by counterclaim or
cross-action or by the enforcement of any or all of such Obligations (excluding (x) the fees
described in Sections 2.02(g), 3.04, 3.05, 3.08, 4.01(f)
and 4.02 and (y) and amounts so received in respect of Currency Agreements, Commodity
Agreements and/or Interest Rate Contracts) or the Collateral, and

          (b) if any of them shall by voluntary payment or by the exercise of any right of counterclaim,
setoff, banker’s lien or otherwise, receive payment of a proportion of the aggregate amount of such
Obligations held by it which is greater than the amount which such Lender is entitled to receive
hereunder, the Lender receiving such excess payment shall purchase, without recourse or warranty,
an undivided interest and participation (which it shall be deemed to have done simultaneously upon
the receipt of such payment) in such Obligations owed to the others so that all such recoveries
with respect to such Obligations shall be applied ratably in accordance with their Pro Rata Shares;
provided, however, that if all or part of such excess payment received by the purchasing party is
thereafter recovered from it, those purchases shall be rescinded and the purchase prices paid for
such participation shall be returned to

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such party to the extent necessary to adjust for such
recovery, but without interest except to the extent the purchasing party is required to pay
interest in connection with such recovery.

Each Borrower agrees that any Lender purchasing a participation from another Lender pursuant to
this Section 14.06 may, to the fullest extent permitted by law, exercise all its rights of
payment (including, subject to Section 14.05, the right of setoff) with respect to such
participation as fully as if such Lender were the direct creditor of such Borrower in the amount of
such participation. The Administrative Agent, the Domestic Lenders and the Issuing Banks further
agree and acknowledge that in no event shall proceeds of the Collateral of the Multicurrency
Borrowers, more than sixty-five percent (65.0%) of the Capital Stock of any Multicurrency Borrower
or its Subsidiaries or amounts received from any Multicurrency Borrower as described herein be
shared with any Domestic Lender or any Issuing Bank for application on any of the Domestic
Obligations.

          14.07. Amendments and Waivers.

          (a) General Provisions. Unless otherwise provided for or required in this Agreement,
no amendment or modification of any provision hereof shall be effective without the written
agreement of the Requisite Lenders (which the Requisite Lenders shall have the right to grant or
withhold in their sole discretion) and the Borrowers, and no termination or waiver of any provision
of this Agreement or any of the Loan Documents, or consent to any departure by the Borrowers
therefrom, shall be effective without the written concurrence of the Requisite Lenders, which the
Requisite Lenders shall have the right to grant or withhold in their sole discretion. All
amendments, modifications, waivers and consents not specifically reserved to the Lenders, the
Issuing Banks and the Administrative Agent in Section 14.07(b), Section 14.07(c)
and in any other provisions of this Agreement shall require only the approval of the Requisite
Lenders. Any waiver or consent shall be effective only in the specific instance and for the
specific purpose for which it was given. No notice to or demand on any Borrower in any case shall
entitle such Borrower to any other or further notice or demand in similar or other circumstances.

          (b) Amendments, Consents and Waivers by all affected Lenders. Notwithstanding the
foregoing, any amendment, modification, termination, waiver or consent with respect to any of the
following provisions of this Agreement shall be effective only by a written agreement, signed by
each Lender or each Issuing Bank affected thereby:

     (i) increase in the amount of any of the Commitments of such Lender,

     (ii) reduction of the principal of, rate or amount of interest on the Loans, the
Reimbursement Obligations, or any fees or other amounts payable to such Lender (other
than by the payment or prepayment thereof),

     (iii) except as provided in Section 11.02(c), extension of the
Termination Date or postponement of any date on which any payment of principal of, or
interest on, the Loans, the Reimbursement Obligations, any fees or other amounts
payable to such Lender or Issuing Bank would otherwise be due,

     (iv) change in the definitions of Commitments, Domestic Commitments or
Multicurrency Commitment (other than as set forth in clause (c)(vi) below),

     (v) the orders of priority set forth in Section 3.01, Section
3.02(b)(ii) or Section 3.02(b)(iii), and

     (vi) amendment of Section 3.01(d).

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          (c) Amendments, Consents and Waivers by All Lenders. Any amendment, modification,
termination, waiver or consent with respect to any of the following provisions of this Agreement
shall be effective only by a written agreement, signed by each Lender:

     (i) release of any guarantor of the Obligations or all or any substantial
portion of the Collateral (except as provided in Section 12.09(c)),

     (ii) change in the (A) definition of Requisite Lenders or (B) the aggregate Pro
Rata Share of the Lenders which shall be required for the Lenders or any of them to
take action under this Agreement or the other Loan Documents,

     (iii) amendment of Sections 12.09(c), 14.01, 14.02,
14.06 or this Section 14.07,

     (iv) assignment of any right or interest in or under this Agreement or any of
the other Loan Documents by any Borrower,

     (v) waiver of any Event of Default described in Sections 11.01(a), (f), (g),
(i) and (n),

     (vi) amendment to the definition of Commitments, Domestic Commitments or
Multicurrency Commitment with respect to the maximum aggregate amounts set forth in
such defined terms,

     (vii) increase in any percentage used in any of the advance rates in the
definitions of “Domestic Borrowing Base” and Multicurrency Borrowing Base”; and

     (viii) amendment or waiver of Section 10.01.

          (d) [Intentionally Omitted].

          (e) Administrative Agent Authority. The Administrative Agent may, but shall have no
obligation to, with the written concurrence of any Lender, execute amendments, modifications,
waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in
this Section 14.07, no amendment, modification, waiver or consent shall affect the rights
or duties of the Administrative Agent hereunder or under the other Loan Documents, including this
Article XIII, unless made in writing and signed by the Administrative Agent in addition to
the Lenders required above to take such action; and the order of priority set forth in clauses
first and second and the second clause first of Section 3.02(b)(i)(B)
and clauses (A), (B) and (C) of Section 3.02(b)(ii). Notwithstanding anything
herein to the contrary, in the event that a Borrower shall have requested, in writing, that any
Lender agree to an amendment, modification, waiver or consent with respect to any particular
provision or provisions hereof, and such Lender shall have failed to state, in writing, that it
either agrees or disagrees (in full or in part) with all such requests (it being understood that
any such statement of agreement may be subject to satisfactory documentation and other conditions
specified in such statement) within thirty (30) days of receipt of such request (or such other time
period as may be designated in such amendment, modification, waiver or consent), then such Lender
shall be deemed to have disagreed with such request. Furthermore, in the event that any Lender
fails to agree to any amendment, modification, waiver or consent requiring the unanimous approval
of the Lenders pursuant to Section 14.07(c), at the joint request of any Borrower and the
Administrative Agent, the Lenders who have so agreed shall have the right (but not the obligation)
to, or to cause an Eligible Assignee to, purchase from such Lender (at the face amount thereof) all
Obligations and Commitments held by such Lender. Each Lender agrees the if the Administrative
Agent or any Borrower exercises its option hereunder, it shall promptly execute and

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deliver all
agreements and documentation necessary to effectuate such assignment as set forth in Section
14.01. Any purchase of such Lender’s Commitments and all other Obligations owing to it must
(i) occur within 30 Business Days from the date that such Lender refuses to execute any amendment,
waiver or consent which requires the written consent of all of the Lenders and to which the
Administrative Agent, the other Lenders and the Borrowers have agreed and (ii) include an amount
payable to such Lender which is sufficient to compensate such Lender for any loss, expense or
liability as a result of any such purchase under this Section 14.07(e) which arises out of,
or is in connection with, any funds acquired by such Lender to make, continue or maintain any
portion of the principal amount of any Loan as, or to convert any portion of the principal amount
of any Loan into, a Fixed Rate Loan.

          (f) Defaulting Lenders. Anything herein to the contrary notwithstanding, during such
period as a Lender is a Defaulting Lender, to the fullest extent permitted by applicable law, such
Lender will not be entitled to vote in respect of amendments and waivers hereunder and the
Commitments and the outstanding Loans or other extensions of credit of such Lender hereunder will
not be taken into account in determining whether the Requisite Lenders or all of the Lenders, as
required, have approved any such amendment or waiver (and the definition of “Requisite Lenders”
will automatically be deemed modified accordingly for the duration of such period);
provided, that any such amendment or waiver that would increase or extend the term of the
Commitments of such Defaulting Lender, extend the date fixed for the payment of principal or
interest owing to such Defaulting Lender hereunder, reduce the principal amount of any obligation
owing to such Defaulting Lender, reduce the amount of or the rate or amount of interest on any
amount owing to such Defaulting Lender or of any fee payable to such Defaulting Lender hereunder,
or alter the terms of this proviso, will require the consent of such Defaulting Lender.

          14.08. Notices.

          (a) Unless otherwise specifically provided herein, any notice, consent or other communication
herein required or permitted to be given shall be in writing and may be personally served,
telecopied, sent by e-mail, or sent by courier service or the United States mails (or with respect
to the Multicurrency Borrowers, the mails of their country of residence) and shall be deemed to
have been given (i) four (4) days following deposit in the United States mails (or with respect to
the Multicurrency Borrowers, the mails of its country of residence), with proper postage prepaid,
(ii) upon delivery thereof to a courier service, (iii) when delivered in person or (iv) upon
confirmation of receipt of a telecopy or of an email; provided, that no notices with respect to a
request for a new, or conversion of an existing, Borrowing or other extension of credit or
providing notice of any Default or Event of Default may be delivered by e-mail. Notices to the
Administrative Agent pursuant to Article II, III or IV shall not be
effective until received by the Administrative Agent. For the purposes hereof, the addresses,
telecopy numbers and, if so specified, e-mail addresses of the parties hereto (until notice of a
change thereof is delivered as provided in this Section 14.08) shall be as set forth below
each party’s name on the signature pages hereof or the signature page of any applicable Assignment
and Acceptance, or, as to each party, at such other address as may be designated by such party in a
written notice to all of the other parties to this Agreement. The Administrative Agent may refer
the relevant Persons (by fax, letter, telecopy, or, if so specified, e-mail) to a web site
(including “e-Disclosure”, the Administrative Agent’s delivery system that is part of CGMI Direct,
Global Fixed Income’s primary web portal) and to the location of the relevant information on such
web site in discharge of such notification or delivery obligation provided that such notification
or delivery obligation shall not be discharged by the Administrative Agent referring a Person to a
web site if such Person has previously provided written notice to the Administrative agent that it
does not wish to receive notices via a web site. Each Borrower acknowledges that although such web
sites may be secured with a dual firewall and a user identification/password authorization system,
and secured through a single user per deal authorization method whereby each user may access such
web site only on

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a deal-by-deal basis, distribution of material through an electronic medium is not
necessarily secure and there are confidentiality and other risks associated with such distribution.

          (b) The Domestic Borrowers jointly and severally agree, and the Multicurrency Borrowers
jointly and severally agree, to indemnify and hold harmless each Indemnitee (with respect to the
applicable Credit Facility) from and against any and all claims, damages, liabilities, obligations,
losses, penalties, actions, judgments, suits, costs, disbursements and expenses of any kind or
nature (including, without limitation, reasonable fees and disbursements of counsel to any such
Indemnitee) which may be imposed on, incurred by or asserted against any such Indemnitee in any
manner relating to or arising out of any action taken or omitted by such Indemnitee in good faith
in reliance on any notice or other written communication in the form of a telecopy or facsimile
purporting to be from a Borrower; provided that no Borrower shall have any obligation under this
Section 14.08(b) to an Indemnitee with respect to any indemnified matter caused by or
resulting from the gross negligence or willful misconduct of that Indemnitee as determined by a
court of competent jurisdiction.

          14.09. Survival of Warranties and Agreements. All representations and warranties made
herein and all obligations of the Borrowers in respect of taxes, indemnification and expense
reimbursement shall survive the execution and delivery of this Agreement and of the other Loan
Documents, the making and repayment of the Loans, the issuance and discharge of Letters of Credit
hereunder, the termination of this Agreement and the termination of the Commitments hereunder and
shall not be limited in any way by the passage of time or occurrence of any event and shall
expressly cover time periods when the Administrative Agent, any of the Issuing Banks or any of the
Lenders may have come into possession or control of any of the Borrowers’ or their Subsidiaries’
Property.

          14.10. Failure or Indulgence Not Waiver; Remedies Cumulative. No failure or delay on
the part of the Administrative Agent, any Lender or any Issuing Bank in the exercise of any power,
right or privilege under any of the Loan Documents shall impair such power, right or privilege or
be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial
exercise of any such power, right or privilege preclude other or further exercise thereof or of any
other right, power or privilege. All rights and remedies existing under the Loan Documents are
cumulative to and not exclusive of any rights or remedies otherwise available.

          14.11. Marshaling; Payments Set Aside. None of the Administrative Agent, any Lender
or any Issuing Bank shall be under any obligation to marshal any assets in favor of the Borrowers
or any other party or against or in payment of any or all of the Obligations. To the extent that a
Borrower makes a payment or payments to the Administrative Agent, the Lenders or the Issuing Banks
or any of such Persons receives payment from the proceeds of the Collateral or exercise their
rights of setoff, and such payment or payments or the proceeds of such enforcement or setoff or any
part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or
required to be repaid to a trustee, receiver or any other party, then to the extent of such
recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, right
and remedies therefor, shall be revived and continued in full force and effect as if such payment
had not been made or such enforcement or setoff had not occurred.

          14.12. Severability. In case any provision in or obligation hereunder or under the
other Loan Documents shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or
obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

          14.13. Headings. Section headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement or be given any
substantive effect.

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          14.14. Governing Law. THIS AGREEMENT SHALL BE INTERPRETED, AND THE RIGHTS AND
LIABILITIES OF THE PARTIES HERETO DETERMINED, IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          14.15. Limitation of Liability. No claim may be made by any Borrower, any Lender, any
Issuing Bank, the Administrative Agent or any other Person against the Administrative Agent, any
Issuing Bank or any other Lender or the Affiliates, directors, officers, employees, attorneys or
agents of any of them for any special, consequential or punitive damages in respect of any claim
for breach of contract or any other theory of liability arising out of or related to the
transactions contemplated by this Agreement, or any act, omission or event occurring in connection
therewith; and each Borrower, each Lender, each Issuing Bank and the Administrative Agent hereby
waives, releases and agrees not to sue upon any such claim for any such damages, whether or not
accrued and whether or not known or suspected to exist in its favor.

          14.16. Successors and Assigns. This Agreement and the other Loan Documents shall be
binding upon the parties hereto and their respective successors and permitted assigns and shall
inure to the benefit of the parties hereto and the successors and permitted assigns of the
Administrative Agent, the Lenders and the Issuing Banks. The rights hereunder and the interest
herein of the Borrowers may not be assigned or otherwise transferred without the written consent of
all Lenders. Any attempted assignment without such written consent shall be void. Nothing in this
Agreement, express or implied, shall be construed to confer upon any Person (other than the parties
hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided herein and, to the extent expressly contemplated hereby, the Related Parties of each of
the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement.

          14.17. Certain Consents and Waivers.

          (a) Personal Jurisdiction.

     (i) EACH OF THE ADMINISTRATIVE AGENT, THE LENDERS, THE ISSUING BANKS, AND THE
BORROWERS IRREVOCABLY AND UNCONDITIONALLY SUBMITS, TO THE MAXIMUM EXTENT PERMITTED BY
LAW, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY NEW YORK STATE
COURT OR FEDERAL COURT SITTING IN NEW YORK, NEW YORK, AND ANY COURT HAVING
JURISDICTION OVER APPEALS OF MATTERS HEARD IN SUCH COURTS, IN ANY ACTION OR PROCEEDING
ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT,
WHETHER ARISING IN CONTRACT, TORT, EQUITY OR OTHERWISE, OR FOR RECOGNITION OR
ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY
BE HEARD AND DETERMINED IN SUCH STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN
SUCH FEDERAL COURT. EACH OF THE BORROWERS IRREVOCABLY DESIGNATES AND APPOINTS
CORPORATION SERVICE COMPANY AT 2711 CENTERVILLE ROAD SUITE 400, WILMINGTON, DELWARE
19808, AS ITS PROCESS AGENT (THE “PROCESS AGENT”) FOR SERVICE OF ALL PROCESS
IN ANY SUCH PROCEEDING IN ANY SUCH COURT, SUCH SERVICE BEING HEREBY ACKNOWLEDGED TO BE
EFFECTIVE AND

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BINDING SERVICE IN EVERY RESPECT. EACH OF THE ADMINISTRATIVE AGENT, THE
LENDERS, THE ISSUING BANKS, AND THE BORROWERS AGREES THAT A FINAL NON-APPEALABLE
JUDGMENT IN ANY SUCH ACTION 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.
EACH OF THE BORROWERS WAIVES IN ALL DISPUTES ANY OBJECTION THAT IT MAY HAVE TO THE
LOCATION OF THE COURT CONSIDERING THE DISPUTE.

     (ii) NOTWITHSTANDING THE FIRST SENTENCE OF SECTION 14.17(a)(i), EACH OF THE
BORROWERS AGREES THAT THE ADMINISTRATIVE AGENT SHALL HAVE THE RIGHT TO PROCEED AGAINST
ANY CREDIT PARTY OR ITS PROPERTY IN ANY COURT IN ANY LOCATION TO ENABLE THE
ADMINISTRATIVE AGENT, THE ISSUING BANKS AND THE LENDERS TO REALIZE ON THE COLLATERAL
OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT
ORDER ENTERED IN FAVOR OF THE ADMINISTRATIVE AGENT, THE ISSUING BANKS OR ANY LENDER.
EACH BORROWER AGREES THAT IT WILL NOT ASSERT ANY PERMISSIVE COUNTERCLAIMS IN ANY
PROCEEDING BROUGHT BY THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY ISSUING BANK TO
REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A
JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY
ISSUING BANK. EACH OF THE BORROWERS WAIVES ANY OBJECTION THAT IT MAY HAVE TO THE
LOCATION OF THE COURT IN WHICH THE ADMINISTRATIVE AGENT, ANY ISSUING BANK OR ANY
LENDER MAY COMMENCE A PROCEEDING DESCRIBED IN THIS SECTION.

          (b) Service of Process. EACH OF THE BORROWERS IRREVOCABLY CONSENTS TO THE SERVICE OF
PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF
COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE PROCESS AGENT (IN THE CASE
OF ANY BORROWER) OR THE RELEVANT BORROWER’S NOTICE ADDRESS SPECIFIED PURSUANT TO SECTION 14.08,
SUCH SERVICE TO BECOME EFFECTIVE FIVE (5) DAYS AFTER SUCH MAILING. EACH OF THE BORROWERS
IRREVOCABLY WAIVES ANY OBJECTION (INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF
VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS) WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT IN ANY JURISDICTION SET FORTH ABOVE. NOTHING HEREIN SHALL AFFECT THE RIGHT
TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT OF THE
ADMINISTRATIVE AGENT TO BRING PROCEEDINGS AGAINST ANY BORROWER IN THE COURTS OF ANY OTHER
JURISDICTION.

          (c) Waiver of Jury Trial. EACH OF THE ADMINISTRATIVE AGENT, THE ISSUING BANKS, THE
LENDERS, AND THE BORROWERS IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, AMONG ANY OF THE

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ADMINISTRATIVE
AGENT, THE ISSUING BANKS, OR THE BORROWERS ARISING OUT OF OR RELATED TO THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT. ANY SUCH PERSON MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE
PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

          14.18. Counterparts; Effectiveness; Inconsistencies. This Agreement and any
amendments, waivers, consents, or supplements hereto may be executed in counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together
shall constitute but one and the same instrument. This Agreement shall become effective against
each of the parties hereto on the date hereof. This Agreement and each of the other Loan Documents
shall be construed to the extent reasonable to be consistent one with the other, but to the extent
that the terms and conditions of this Agreement are actually inconsistent with the terms and
conditions of any other Loan Document, this Agreement shall govern.

          14.19. Limitation on Agreements. All agreements between the Borrowers, the
Administrative Agent, each Lender and each Issuing Bank in the Loan Documents are hereby expressly
limited so that in no event shall any of the Loans or other amounts payable by the Borrower under
any of the Loan Documents be directly or indirectly secured (within the meaning of Regulation U) by
Margin Stock.

          14.20. Confidentiality. Subject to Section 14.01(e), the Administrative
Agent, the Lenders and the Issuing Banks shall hold all nonpublic information obtained pursuant to
the requirements hereof and identified as such by any Borrower in accordance with safe and sound
banking practices and in any event may make disclosure (i) reasonably required by a bona fide
offeree, transferee or assignee (or Participant) in connection with the contemplated transfer (or
participation), or as required or requested by any Governmental Authority or representative
thereof, or pursuant to legal process, or to any of the foregoing’s managers, administrators,
trustees, partners, directors, officers, employees, agents, lawyers and other advisors who shall
be informed of the confidential nature of such information, and shall require any such offeree or
assignee (or Participant) to agree (and require any of its offerees, assignees or Participants to
agree) to comply with this Section 14.20, (ii) any rating agency, or (iii) the CUSIP
Service Bureau or any similar organization. In no event shall the Administrative Agent, any Lender
or any Issuing Bank be obligated or required to return any materials furnished by any Borrower or
any Borrower Subsidiary; provided, however, each offeree shall be required to agree that if it does
not become an assignee, transferee (or Participant) it shall return all materials furnished to it
by such Borrower or Subsidiary thereof in connection herewith. In the event the Administrative
Agent or any Lender or any Issuing Bank is requested or required by law to disclose any of such
information, the Administrative Agent or such Lender or Issuing Bank agrees to provide NMHG with
prompt notice thereof; provided, however, the Administrative Agent or such Lender or Issuing Bank
may, without restriction hereunder, including the providing of such notice, provide any and all of
such information to any of the agencies or other governmental entities which regularly regulate its
ability to engage in any of its businesses under state or federal law. Any and all confidentiality
agreements entered into between the Administrative Agent, any Lender or any Issuing Bank and any
Borrower shall survive this Agreement.

          14.21. Currency Conversions.

          (a) Place and Currency of Payment. If any Obligation is payable in a currency other
than Dollars (a “Non-USD Currency”) and/or at a place other than the United States, and
such payment is not made as and when agreed, the applicable Borrowers, jointly and severally, will,
upon the request of the applicable Lender or Issuing Bank, or the Administrative Agent, on behalf
of such Lender or Issuing

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Bank, either (i) make payment in such Non-USD Currency and at the place
where such Obligation is payable, or (ii) pay the Administrative Agent, for the benefit of such
Lender or Issuing Bank, in Dollars at the address of the Administrative Agent pursuant to
Section 14.08 hereof. In the event of a payment pursuant to clause (ii) above, the
applicable Borrowers will pay the Administrative Agent, for the benefit of such Lender or Issuing
Bank, the equivalent of the amount of such Obligation in Dollars calculated at the rate of exchange
at which, in accordance with normal banking procedures, the Administrative Agent or such Lender or
Issuing Bank may buy such Non-USD Currency in New York, New York on the date any applicable
Borrower makes such payment.

          (b) Judgment Currency.

     (i) If for the purposes of obtaining judgment in any court it is necessary to
convert a sum due hereunder or under the Notes in any currency (the “Original
Currency”) to another currency (the “Other Currency”), the parties hereto
agree, to the fullest extent that they may effectively do so, that the rate of
exchange used shall be the Spot Rate on the second Business Day preceding that on
which judgment is given.

     (ii) The obligation of each Borrower in respect of any sum due in the Original
Currency from it to any Lender, any Issuing Bank or the Administrative Agent hereunder
or under any Note held by any Lender, as applicable, shall, notwithstanding any
judgment in any Other Currency, be discharged only to the extent that on the Business
Day following receipt by such Lender, Issuing Bank or the Administrative Agent (as the
case may be) of any sum adjudged to be so due in such Other Currency, such Lender,
Issuing Bank or the Administrative Agent (as the case may be) may in accordance with
normal banking procedures purchase the Original Currency with such Other Currency; if
the amount of the Original Currency so purchased is less than the sum originally due
to such Lender, Issuing Bank or the Administrative Agent (as the case may be) in the
Original Currency, such Borrower agrees, as a separate obligation and notwithstanding
any such judgment, to indemnify such Lender, Issuing Bank or the Administrative Agent
(as the case may be) against any loss resulting from such purchase or from the
inability to effect such purchase, and if the amount of the Original Currency so
purchased exceeds the sum originally due to any Lender, Issuing Bank or the
Administrative Agent (as the case may be) in the Original Currency, such Lender,
Issuing Bank or the Administrative Agent (as the case may be) agrees to remit to such
Borrower such excess.

          14.22. Entire Agreement. This Agreement, taken together with all of the other Loan
Documents embodies the entire agreement and understanding among the parties hereto and supersedes
the Proposal Letter (except for provisions therein specifically referred to herein) and all prior
agreements and understandings, written and oral, relating to the subject matter hereof.

          14.23. Advice of Counsel. The Borrowers and each Lender and each Issuing Bank
understand that the Administrative Agent’s counsel represents only the Administrative Agent’s and
its Affiliates’ interests and that the Borrowers, other Lenders and other Issuing Bank (if any) are
advised to obtain their own counsel. The Borrowers represent and warrant to the Administrative
Agent and the other Holders that it has discussed this Agreement with its counsel.

          14.24. Documentation Agent, Senior Managing Agent, Syndication Agent, Joint Lead Arrangers
and Joint Bookrunners This Loan Agreement places no duties on the Documentation Agent, the
Senior Managing Agent, the Syndication Agent, the Joint Lead Arrangers or the Joint Bookrunners in
their capacities as such.

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          14.25. Termination of the Multicurrency Facility. Upon the Payment in Full of
the Multicurrency Obligations and the permanent reduction to zero and termination of the
Multicurrency Commitment by the Multicurrency Borrowers in accordance with Section 3.01,
(a) all references herein to Multicurrency Borrowers, Multicurrency Commitment, Foreign Guarantors,
Multicurrency Loans, Overdraft Loans, Euro Loans, Sterling Loans and any other defined terms in
which “Multicurrency”, “Euro”, “Overdraft” or “Sterling” is part of such defined term’s name and
all derivations thereof shall have no effect except to the extent specifically referenced to
survive such Payment in Full of the Obligations, (b) the Multicurrency Borrowers shall continue to
constitute “Borrower Subsidiaries” for the purposes of this Agreement and the other Loan Documents
but shall no longer constitute “Foreign Credit Parties”, “Credit Parties”, “Borrowers” or
“Guarantors”, as applicable, (c) the Foreign Collateral shall be released in accordance with
Section 12.02(i)(C), (d) the Multicurrency Borrower Guaranties and Foreign Guaranties shall
be terminated except to the extent specifically referenced to survive such Payment in Full of the
Obligations, and shall no longer constitute “Loan Documents” and the Foreign Guarantors shall no
longer constitute “Guarantors” or “Foreign Credit Parties”, and (e) the Multicurrency Borrower
Guaranty shall remain in effect for any Obligations which survive such Payment in Full.

          14.26. Amendment and Restatement. The parties hereto agree that upon (i) the
execution and delivery of this Agreement by each of the parties hereto and (ii) satisfaction (or
waiver by the aforementioned parties) of the conditions precedent set forth in Section
5.01, the terms and conditions of the Previous Agreement shall be and hereby are amended,
superseded, and restated in their entirety by the terms and provisions of this Agreement. This
Agreement is not intended to and shall not constitute a novation of the Previous Agreement or the
Indebtedness incurred thereunder. With respect to any date or time period occurring and ending
prior to the Closing Date, the rights and obligations of the parties to the Previous Agreement
shall be governed by the Previous Agreement and the Loan Documents (as defined therein), and with
respect to any date or time period occurring and ending on or after the Closing Date, the rights
and obligations of the parties hereto shall be governed by this Agreement and the other Loan
Documents (as defined herein). The Lenders hereby agree that the Administrative Agent shall have
full power and authority to allocate the Domestic Commitments and Multicurrency Commitments of the
Lenders as in effect immediately prior to the Closing Date such that, immediately after giving
effect to such allocations on the Closing Date, each Lender shall hold the “Domestic Commitment”
and the “Multicurrency Commitment” set forth next to its name on Schedule 1.01.1. The
Lenders further agree to make all assignments and/or transfers, and hereby consent to any such
assignments and transfers, which may be necessary (including, without limitation, assignments of
funded obligations) to effect the allocations described in the preceding sentence. Without
limiting the foregoing, each Departing Lender’s “Commitment” under the Previous Agreement shall be
terminated and each Departing Lender shall not be a Lender hereunder.

          14.27. Posting of Communications.

          (a) Each of the parties hereto agrees that the Administrative Agent may, but shall not be
obligated to, make Communications available to the Lenders and the Issuing Banks by posting such
Communications on IntraLinksTM or a substantially similar electronic platform chosen by the
Administrative Agent to be its electronic transmission system (the “Approved Electronic
Platform”).

          (b) Although the Approved Electronic Platform and its primary web portal are secured with
generally-applicable security procedures and policies implemented or modified by the Administrative
Agent from time to time (including, as of the Closing Date, a dual firewall and a User ID/Password
Authorization System) and the Approved Electronic Platform is secured through a
single-user-per-deal authorization method whereby each user may access the Approved Electronic
Platform only on a deal-by-deal basis, each of the parties hereto acknowledges and agrees that the
distribution of material through an electronic medium is not necessarily secure and that there are
confidentiality and

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other risks associated with such distribution. In consideration for the convenience and other
benefits afforded by such distribution and for the other consideration provided hereunder, the
receipt and sufficiency of which is hereby acknowledged, each of the parties hereto hereby approves
distribution of the Communications through the Approved Electronic Platform and understands and
assumes the risks of such distribution.

          (c) THE APPROVED ELECTRONIC PLATFORM AND THE COMMUNICATIONS ARE PROVIDED “AS IS” AND “AS
AVAILABLE”. NONE OF THE ADMINISTRATIVE AGENT NOR ANY AFFILIATE THEREOF WARRANTS THE ACCURACY,
ADEQUACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM AND EACH
EXPRESSLY DISCLAIMS ANY LIABILITY FOR ERRORS OR OMISSIONS IN THE APPROVED ELECTRONIC COMMUNICATIONS
OR THE APPROVED ELECTRONIC PLATFORM. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY
THE AGENT PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE APPROVED ELECTRONIC PLATFORM.

          (d) Each of the parties hereto agrees that the Administrative Agent may, but (except as may be
required by applicable law) shall not be obligated to, store the Communications on the Approved
Electronic Platform in accordance with the Administrative Agent’s generally-applicable document
retention procedures and policies.

ARTICLE XV

Collection Allocation Mechanism

     15.01. Implementation of CAM.

          (a) Upon the acceleration of the Loans and the termination of the Commitments in accordance
with the terms hereof (including, without limitation, as a result of an event under clause (f) or
(g) of Section 11.01):

     (i) the Lenders shall automatically and without further act (and without regard
to the provisions of Section 14.01) be deemed to have exchanged interests in
the Domestic Facility and the Multicurrency Facility such that in lieu of the
interests of each Lender in each Credit Facility in which it participates as of such
date, such Lender shall hold an interest in both Credit Facilities, whether or not
such Lender shall previously have participated therein, equal to such Lender’s CAM
Percentage thereof;

     (ii) the Swing Loan Bank shall be deemed to have declared a Swing Loan
Settlement Date immediately before such acceleration without further act and without
notice to any Person (and the Domestic Lenders shall be required to settle, or
participate in, all outstanding Swing Loans immediately before the consummation of the
CAM Exchange); and

     (iii) the Overdraft Line Bank shall be deemed to have declared an Overdraft
Settlement Date immediately before such acceleration without further act and without
notice to any Person (and the Multicurrency Lenders shall be required to settle, or

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participate in, all outstanding Overdraft Loans immediately before the
consummation of the CAM Exchange).

          (b) Each Lender and each Borrower hereby consents and agrees to the CAM Exchange, and each
Lender agrees that the CAM Exchange shall be binding upon its successors and assigns and any Person
that acquires a participation in its interests in any Credit Facility. Each Borrower agrees from
time to time to execute and deliver to the Administrative Agent all instruments and documents as
the Administrative Agent shall reasonably request to evidence and confirm the respective interests
of the Lenders after giving effect to the CAM Exchange.

          (c) As a result of the CAM Exchange, upon and after the date on which the CAM Exchange occurs,
each payment received by the Administrative Agent pursuant to any Loan Document in respect of the
Obligations, and each distribution made by the Administrative Agent in respect of the Credit
Facilities, shall be distributed to the Lenders pro rata in accordance with their respective CAM
Percentages. Any direct payment received by a Lender upon or after the CAM Exchange, including by
way of setoff, in respect of the Credit Facilities shall be paid over to the Administrative Agent
for distribution to the Lenders in accordance herewith.

     15.02. Letters of Credit.

          (a) In the event that on the date on which a CAM Exchange occurs any Letter of Credit shall be
outstanding and undrawn in whole or in part, or any amount drawn under any such Letter of Credit
shall not have been reimbursed by the applicable Borrower or with the proceeds of a Loan, each
Lender having, on such date and prior to giving effect to the CAM Exchange, participation
obligations with respect to such Letter of Credit shall promptly pay over to the Administrative
Agent, in immediately available funds, in the case of any undrawn amount, and in Dollars, in the
case of any unreimbursed amount, an amount equal to such Lender’s Pro Rata Share (as calculated in
accordance with clause (a) of the definition thereof) of such undrawn face amount or (to the extent
it has not already done so) such unreimbursed drawing, as the case may be, of each outstanding
Letter of Credit Issued under a Credit Facility in which such Lender participated immediately
before giving effect to the CAM Exchange together with interest thereon from the date on which such
CAM Exchange occurs to the date on which such amount shall be paid to the Administrative Agent at
the rate that would be applicable at the time to a Floating Rate Loan in a principal amount equal
to such amount. The Administrative Agent shall establish a separate account or accounts for each
Lender (each, an “LC Reserve Account”) for the amounts received with respect to each such
Letter of Credit pursuant to the preceding sentence. The Administrative Agent shall deposit in
each Lender’s LC Reserve Account such Lender’s CAM Percentage of the amounts received from the
Lenders as provided above. The Administrative Agent shall have sole dominion and control over each
LC Reserve Account, and the amounts deposited in each LC Reserve Account shall be held in such LC
Reserve Account until withdrawn as provided in paragraph (b), (c), (d) or (e) below. The
Administrative Agent shall maintain records enabling it to determine the amounts paid over to it
and deposited in the LC Reserve Accounts in respect of each Letter of Credit and the amounts on
deposit in respect of each Letter of Credit attributable to each Lender’s CAM Percentage. The
amounts held in each Lender’s LC Reserve Account shall be held as a reserve against the outstanding
undrawn face amounts of all Letters of Credit, shall be the property of such Lender, shall not
constitute Loans to or give rise to any claim of or against any Credit Party and shall not give
rise to any obligation on the part of any Borrower to pay interest to such Lender, it being agreed
that the reimbursement obligations in respect of Letters of Credit shall arise only at such times
as drawings are made thereunder, as provided in Section 2.02 hereof.

          (b) In the event that on or after the date on which a CAM Exchange occurs any drawing shall be
made in respect of a Letter of Credit (regardless of whether any such Letter of Credit

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was issued under the Domestic Facility or the Multicurrency Facility), the Administrative
Agent shall, at the request of the applicable Issuing Bank, withdraw from the LC Reserve Account of
each Lender any amounts, up to the amount of such Lender’s CAM Percentage of such drawing,
deposited in respect of such Letter of Credit and remaining on deposit and deliver such amounts to
such Issuing Bank in satisfaction of the reimbursement obligations of the Lenders under Section
2.02(e). In the event any Lender shall default on its obligation to pay over any amount to the
Administrative Agent in respect of any Letter of Credit (in any case, regardless of whether any
such Letter of Credit was issued under the Domestic Facility or the Multicurrency Facility) as
provided in this Section 15.02, the applicable Issuing Bank shall, in the event of a
drawing thereunder, have a claim against such Lender to the same extent as if such Lender had
defaulted on obligations under Section 2.02(e), but shall have no claim against any other
Lender in respect of such defaulted amount, notwithstanding the exchange of interests in the
applicable Borrower’s reimbursement obligations pursuant Section 15.01. Each other Lender
shall have a claim against such defaulting Lender for any damages sustained by it as a result of
such default, including, in the event such Letter of Credit shall expire undrawn, its CAM
Percentage of the defaulted amount.

          (c) In the event that after the date on which a CAM Exchange occurs any Letter of Credit shall
expire undrawn, the Administrative Agent shall withdraw from the LC Reserve Account of each Lender
the amount remaining on deposit therein in respect of such Letter of Credit and distribute such
amount to such Lender.

          (d) With the prior written approval of the Administrative Agent and the applicable Issuing
Bank, any Lender may withdraw the amount held in its LC Reserve Account in respect of the undrawn
amount of any Letter of Credit. Any Lender making such a withdrawal shall be unconditionally
obligated, in the event there shall subsequently be a drawing under such Letter of Credit, to pay
over to the Administrative Agent, for the account of the applicable Issuing Bank, on demand, its
CAM Percentage of such drawing.

          (e) Pending the withdrawal by any Lender of any amounts from its LC Reserve Account as
contemplated by the above paragraphs, the Administrative Agent will, at the direction of such
Lender and subject to such rules as the Administrative Agent may prescribe for the avoidance of
inconvenience, invest such amounts in Permitted Investments. Each Lender which has not withdrawn
its CAM Percentage of amounts in its LC Reserve Account as provided in paragraph (d) above shall
have the right, at intervals reasonably specified by the Administrative Agent, to withdraw the
earnings on investments so made by the Administrative Agent with amounts in its LC Reserve Account
and to retain such earnings for its own account.

     15.03. Conversion. In the event a CAM Exchange shall occur, Obligations owed by the
Borrowers denominated in Specified Foreign Currencies shall, automatically and with no further act
required, be converted to obligations of the same Borrowers denominated in Dollars. Such
conversion shall be effected based upon the Spot Rate in effect with respect to the Specified
Foreign Currencies on the date on which the CAM Exchange occurs. On and after any such conversion,
all amounts accruing and owed to any Lender in respect of its Obligations shall accrue and be
payable in U.S. Dollars at the rates otherwise applicable hereunder (and, in the case of interest
on Loans, at the default rate applicable to ABR Loans hereunder). Notwithstanding the foregoing
provisions of this Section 15.03, any Lender may, by notice to the Borrowers and the Administrative
Agent prior to the date on which a CAM Exchange occurs, elect not to have the provisions of this
Section 15.03 apply with respect to all Obligations owed to such Lender immediately following such
date, and, if such notice is given, all Obligations owed to such Lender immediately following the
date on which such CAM Exchange occurs shall remain designated in their original currencies.

The remainder of this page is intentionally blank.

-181-

 

     IN WITNESS WHEREOF, this Agreement has been duly executed as of the date first above written.

	 	 	 	 	 
	 	NMHG HOLDING CO.

 	 
	 	By:  	/s/ Jeffrey Mattern
 	 
	 	 	Name:  	Jeffrey Mattern 	 
	 	 	Title:  	Treasurer 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Associate General Counsel
	 

	 	Phone: (503) 721-6063
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: ed.rizzuti@nmhg.com
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Treasurer
	 

	 	Phone: (503) 721-6000
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: jeff.mattern@nmhg.com

S-1

 

	 	 	 	 	 
	 	NACCO MATERIALS HANDLING GROUP, INC.

 	 
	 	By:  	/s/  Jeffrey Mattern
 	 
	 	 	Name:  	Jeffrey Mattern 	 
	 	 	Title:  	Treasurer 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Associate General Counsel
	 

	 	Phone: (503) 721-6063
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: ed.rizzuti@nmhg.com
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Treasurer
	 

	 	Phone: (503) 721-6000
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: jeff.mattern@nmhg.com

S-2

 

	 	 	 	 	 
	 	NACCO MATERIALS HANDLING LIMITED

 	 
	 	By:  	/s/ Jeffrey Mattern
 	 
	 	 	Name:  	Jeffrey Mattern 	 
	 	 	Title:  	Director 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Associate General Counsel
	 

	 	Phone: (503) 721-6063
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: ed.rizzuti@nmhg.com
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Treasurer
	 

	 	Phone: (503) 721-6000
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: jeff.mattern@nmhg.com

S-3

 

	 	 	 	 	 
	 	NACCO MATERIALS HANDLING B.V.

 	 
	 	By:  	NACCO MATERIALS HANDLING GROUP, LTD., 
    its Managing Director
 	 
	 	 	 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                         /s/ Jeffrey Mattern
 	 
	 	 	Name:  	Jeffrey Mattern 	 
	 	 	Title:  	Director 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Associate General Counsel
	 

	 	Phone: (503) 721-6063
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: ed.rizzuti@nmhg.com
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Treasurer
	 

	 	Phone: (503) 721-6000
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: jeff.mattern@nmhg.com

S-4

 

	 	 	 	 	 
	 	N.M.H. INTERNATIONAL B.V.

 	 
	 	By:  	NACCO MATERIALS HANDLING GROUP, LTD.,
     its Managing Director
 	 
	 	 	 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                       /s/ Jeffrey Mattern
 	 
	 	 	Name:  	Jeffrey Mattern 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Associate General Counsel
	 

	 	Phone: (503) 721-6063
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: ed.rizzuti@nmhg.com
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Treasurer
	 

	 	Phone: (503) 721-6000
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: jeff.mattern@nmhg.com

S-5

 

	 	 	 	 	 
	 	N.M.H. HOLDING B.V.

 	 
	 	By:  	NACCO MATERIALS HANDLING GROUP, LTD.,
     its Managing Director
 	 
	 	 	 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                         /s/ Jeffrey Mattern
 	 
	 	 	Name:  	Jeffrey Mattern 	 
	 	 	Title:  	Director 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Associate General Counsel
	 

	 	Phone: (503) 721-6063
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: ed.rizzuti@nmhg.com
	 
	 

	 	With a copy to:
	 
	 

	 	c/o NACCO Materials Handling Group, Inc.
	 

	 	650 NE Holladay Street, Suite 1600
	 

	 	Portland, Oregon 97232 USA
	 

	 	Attention: Treasurer
	 

	 	Phone: (503) 721-6000
	 

	 	Telecopier: (503) 721-6059
	 

	 	E-Mail: jeff.mattern@nmhg.com

S-6

 

	 	 	 	 	 
	 	CITICORP NORTH AMERICA, INC., as Administrative 

Agent, as an Issuing Bank, 

as Swing Loan Bank, as a Domestic Lender
 and as a Multicurrency Lender

 	 
	 	By:  	/s/ Miles D. McManus
 	 
	 	 	Name:  	Miles D. McManus 	 
	 	 	Title:  	Director and Vice President 	 
	 

	 	 	 

	 

	 	Notice Address:
	 

	 	388 Greenwich Street, 19th Floor
	 

	 	New York, New York 10013
	 

	 	Attention: Miles D. McManus
	 

	 	Telecopier No.: (212) 723-4485
	 

	 	Confirmation No.: [                    ]
	 

	 	E-Mail: miles.mcmanus@citi.com

	 	 	 	 	 
	 	

CITIBANK INTERNATIONAL PLC, as the Overdraft Line Bank

 	 
	 	By:  	/s/ Miles D. McManus
 	 
	 	 	Name:  	Miles D. McManus 	 
	 	 	Title:  	Authorized Signatory 	 

S-7

 

	 	 	 	 	 

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

 as an Issuing Bank, as a Domestic Lender 

and as a Multicurrency Lender

 	 
	 	By:  	/s/ Susan Cloud
 	 
	 	 	Name:  	Susan Cloud 	 
	 	 	Title:  	Vice President 	 

S-8

 

	 	 	 	 	 

Exhibit A

Applicable Fixed Rate Margin, Applicable Floating Rate Margin, Applicable Letter of Credit Fee

Rate, Applicable Overdraft Rate Margin & Applicable Unused Commitment Fee Rate

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Applicable	 	Applicable	 	Applicable
	 	 	 	 	Applicable	 	Applicable	 	Overdraft	 	Letter of	 	Unused
	 	 	Average Quarterly	 	Fixed Rate	 	Floating Rate	 	Rate	 	Credit Fee	 	Commitment
	Level	 	Availability	 	Margin	 	Margin	 	Margin	 	Rate	 	Fee Rate
	Level 1

	 	Greater than $100,000,000
	 	 	3.00	%	 	 	2.00	%	 	 	3.25	%	 	 	3.00	%	 	 	0.75	%
	Level 2

	 	Equal to or less
than $100,000,000
and greater than or
equal to $50,000,000
	 	 	3.25	%	 	 	2.25	%	 	 	3.50	%	 	 	3.25	%	 	 	0.75	%
	Level 3

	 	Less than $50,000,000
	 	 	3.50	%	 	 	2.50	%	 	 	3.75	%	 	 	3.50	%	 	 	0.75	%

S-9

 

SCHEDULE 1.01(A)

Mandatory Cost Formulae

	1.	 	The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of
compliance with (a) the requirements of the Bank of England and/or the Financial Services
Authority (or, in either case, any other authority which replaces all or any of its functions)
or (b) the requirements of the European Central Bank.

	2.	 	On the first day of each Interest Period (or as soon as possible thereafter) the
Administrative Agent shall calculate, as a percentage rate, a rate (the “Associated Costs
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory
Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’
Associated Costs Rates (weighted in proportion to the percentage participation of each Lender
in the relevant Loan) and will be expressed as a percentage rate per annum.

	3.	 	The Associated Costs Rate for any Lender lending from a Facility Office in a Participating
Member State will be the percentage notified by that Lender to the Administrative Agent. This
percentage will be certified by that Lender in its notice to the Administrative Agent to be
its reasonable determination of the cost (expressed as a percentage of that Lender’s
participation in all Loans made from that Facility Office) of complying with the minimum
reserve requirements of the European Central Bank in respect of loans made from that Facility
Office.

	4.	 	The Associated Costs Rate for any Lender lending from a Facility Office in the United Kingdom
will be calculated by the Administrative Agent as follows:

	 	(a)	 	in relation to a Loan in Sterling:

	 	 	 	 	 

	 

	 	AB+C(B-D)+E × 0.01
 

100-(A+C)
	 	per cent. per annum

	 	(b)	 	in relation to a Loan in any currency other than Sterling:

	 	 	 	 	 

	 

	 	E × 0.01
 

300
	 	per cent. per annum.

	 	 	 	Where:
	 
	 	 	 	A is the percentage of Eligible Liabilities (assuming these to be in excess of any
stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio
requirements.
	 
	 	 	 	B is the percentage rate of interest (excluding the Applicable Rate and the
Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of interest
specified in Section 2.13(c) payable for the relevant Interest Period on the Loan.
	 
	 	 	 	C is the percentage (if any) of Eligible Liabilities which that Lender is required
from time to time to maintain as interest bearing Special Deposits with the Bank of
England.

S-10

 

	 	 	 	D is the percentage rate per annum payable by the Bank of England to the
Administrative Agent on interest bearing Special Deposits.
	 
	 	 	 	E is designed to compensate Lenders for amounts payable under the Fees Rules and is
calculated by the Administrative Agent as being the average of the most recent rates of
charge supplied by the Reference Banks to the Administrative Agent pursuant to paragraph
7 below and expressed in pounds per £1,000,000.

	5.	 	For the purposes of this Schedule:

	 	(a)	 	“Eligible Liabilities” and “Special Deposits” have the meanings
given to them from time to time under or pursuant to the Bank of England Act 1998 or (as
may be appropriate) by the Bank of England.
	 
	 	(b)	 	“Facility Office” means the office or offices notified by a Lender to the
Administrative Agent in writing on or before the date it becomes a Lender (or, following
that date, by not less than five Business Days’ written notice) as the office or offices
through which it will perform its obligations under this Agreement.
	 
	 	(c)	 	“Fees Rules” means the rules on periodic fees contained in the FSA
Supervision Manual or such other law or regulation as may be in force from time to time
in respect of the payment of fees for the acceptance of deposits.
	 
	 	(d)	 	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under the
activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee
required pursuant to the Fees Rules but taking into account any applicable discount
rate).
	 
	 	(e)	 	“Participating Member State” means any member state of the European Union
that adopts or has adopted the euro as its lawful currency in accordance with
legislation of the European Union relating to economic and monetary union.
	 
	 	(f)	 	“Reference Banks” means, in relation to Mandatory Cost, the principal
London offices of JPMorgan Chase Bank, National Association.
	 
	 	(g)	 	“Tariff Base” has the meaning given to it in, and will be calculated in
accordance with, the Fees Rules.
	 
	 	(h)	 	“Unpaid Sum” means any sum due and payable but unpaid by any Borrower
under the Loan Documents.

	6.	 	In application of the above formulae, A, B, C and D will be included in the formulae as
percentages (i.e. 5 per cent. will be included in the formula as 5 and not as 0.05). A
negative result obtained by subtracting D from B shall be taken as zero. The resulting
figures shall be rounded to four decimal places.

	7.	 	If requested by the Administrative Agent, each Reference Bank shall, as soon as practicable
after publication by the Financial Services Authority, supply to the Administrative Agent, the
rate of

S-11

 

	 	 	charge payable by that Reference Bank to the Financial Services Authority pursuant to the
Fees Rules in respect of the relevant financial year of the Financial Services Authority
(calculated for this purpose by that Reference Bank as being the average of the Fee Tariffs
applicable to that Reference Bank for that financial year) and expressed in pounds per
£1,000,000 of the Tariff Base of that Reference Bank.

	8.	 	Each Lender shall supply any information required by the Administrative Agent for the purpose
of calculating its Associated Costs Rate. In particular, but without limitation, each Lender
shall supply the following information on or prior to the date on which it becomes a Lender:

	 	(i)	 	the jurisdiction of its Facility Office; and
	 
	 	(j)	 	any other information that the Administrative Agent may reasonably require for
such purpose.
	 

	 	 	Each Lender shall promptly notify the Administrative Agent of any change to the
information provided by it pursuant to this paragraph.

	9.	 	The percentages of each Lender for the purpose of A and C above and the rates of charge of
each Reference Bank for the purpose of E above shall be determined by the Administrative Agent
based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the
assumption that, unless a Lender notifies the Administrative Agent to the contrary, each
Lender’s obligations in relation to cash ratio deposits and Special Deposits are the same as
those of a typical bank from its jurisdiction of incorporation with a Facility Office in the
same jurisdiction as its Facility Office.

	10.	 	The Administrative Agent shall have no liability to any person if such determination results
in an Associated Costs Rate which over or under compensates any Lender and shall be entitled
to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs
3, 7 and 8 above is true and correct in all respects.

	11.	 	The Administrative Agent shall distribute the additional amounts received as a result of the
Mandatory Cost to the Lenders on the basis of the Associated Costs Rate for each Lender based
on the information provided by each Lender and each Reference Bank pursuant to paragraphs 3, 7
and 8 above.

	12.	 	Any determination by the Administrative Agent pursuant to this Schedule in relation to a
formula, the Mandatory Cost, an Associated Costs Rate or any amount payable to a Lender shall,
in the absence of manifest error, be conclusive and binding on all parties hereto.

	13.	 	The Administrative Agent may from time to time, after consultation with the Company and the
relevant Lenders, determine and notify to all parties hereto any amendments which are required
to be made to this Schedule in order to comply with any change in law, regulation or any
requirements from time to time imposed by the Bank of England, the Financial Services
Authority or the European Central Bank (or, in any case, any other authority which replaces
all or any of its functions) and any such determination shall, in the absence of manifest
error, be conclusive and binding on all parties.

S-12

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