Document:

exv10w1

Exhibit 10.1

AMENDMENT TO SYNDICATION AGREEMENT

     THIS AMENDMENT TO SYNDICATION AGREEMENT (this “Amendment”) is made August 18, 2010 by and
between each of Greenbrier Leasing Company LLC, an Oregon limited liability company (“GLC”) and
WLR-Greenbrier Rail Inc., a Delaware corporation (“WL Ross”).

RECITALS

     A. Reference is made to that certain Syndication Agreement dated as of April 29, 2010 by and
between GLC and WL Ross (the “Syndication Agreement”), providing for, among other things, GLC
acting as exclusive agent to WL Ross in connection with the sale of an interest in the membership
interests in WL Ross-Greenbrier Rail Holdings I LLC (“Holdings”), or the issuance of new membership
interests in Holdings, to one or more entities (collectively, the “Transaction”).

     B. GLC and WLR wish to amend the terms of the Syndication Agreement to remove any obligation
of GLC that would require registration as a broker dealer under the federal and state securities
laws in connection with the Transaction. GLC will continue to provide specialized services which
do not require registration as a broker dealer to WL Ross under the Syndication Agreement that will
be used by WLR in furtherance of the Transaction, for which WL Ross will be compensating GLC upon
the terms set forth in the Syndication Agreement.

     C. WL Ross is willing to permit such amendment in exchange for payment of $130,000 from GLC.

     D. In connection with such amendment, GSF and WL Ross’s wholly-owned subsidiary, Holdings,
will be entering into a separate broker agreement with GSF governing the terms and conditions of
services to be provided by GSF to WL Ross and Holdings (the “Broker Agreement”) and an agreement
with respect to services to be provided in connection therewith by Brian Conn, an employee of GLC
(or its affiliates) (the “Registered Representative Agreement”).

     E. Capitalized terms not otherwise defined herein shall have the meaning assigned to them in
the Syndication Agreement.

     NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual agreement
hereinafter set forth, GLC and WL Ross agree as follows:

AGREEMENT

     1. On and as of the date hereof, the parties agree that the provisions of the Syndication
Agreement that may require GLC to register as a broker dealer under the federal and state
securities laws are hereby deleted, including but not limited to, Sections 2(c), (d), (g), (h) and
(i) of the Syndication Agreement.

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     2. Upon execution of this Agreement, GLC shall pay WL Ross $130,000, plus WL Ross’s reasonable
out-of-pocket fees and expenses incurred in connection with this Amendment.

     3. Pursuant to Section 11 of the Syndication Agreement, WL Ross hereby consents to the
amendment hereunder, releases GLC from the obligations deleted hereunder and agrees that effective
as of the date hereof, Section 7 of the Syndication Agreement no longer applies.

     4. This Amendment shall be governed by and construed in accordance with the laws of the State
of New York, without regard to choice of law or conflict of law rules or principles.

     5. Upon the request of the other party, each party to this Amendment shall at any time and
from time to time execute, acknowledge, and deliver all such further acts, assignments, and
assurances, and take all such further actions, as shall be necessary or desirable to give effect to
the transactions consummated by this Amendment.

     6. GLC has reviewed the Broker Agreement and the Registered Representative Agreement and
agrees to indemnify Holdings to the extent Holdings is required to indemnify GSF in connection with
the Transactions under Section 3 of the Broker Agreement.

IN WITNESS WHEREOF, GLC and WL Ross have caused this Amendment to be signed by its duly authorized
officers as of the date first above written.

					
	 	

GLC:

GREENBRIER LEASING COMPANY LLC

 	 
	 	By:  	/s/ Mark Rittenbaum
 	 
	 	 	Name:  	Mark Rittenbaum 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	WL ROSS:

WLR-GREENBRIER RAIL INC.

 	 
	 	By:  	/s/ Wendy Teramoto
 	 
	 	 	Name:  	Wendy Teramoto 	 
	 	 	Title:  	Vice President 	 

2exv10w2

	 	 	 	 	 

Exhibit 10.2

Guaranty

     This Guaranty (this “Guaranty”) dated as of August 18, 2010, by The Greenbrier
Companies, Inc., an Oregon corporation (the “Guarantor”) is for the benefit of the Beneficiary (as
defined below).

     Whereas, Guarantor’s wholly owned subsidiary, Greenbrier Leasing Company LLC (“GLC”)
is party to a Syndication Agreement dated as of April 29, 2010 by and between GLC and
WLR-Greenbrier Rail Inc. (the “Syndication Agreement”) whereby GLC is acting as an industry expert
to WL Ross-Greenbrier Rail Holdings I LLC (“Holdings”) in connection with a sale of membership
interests (the “Transaction”) in Holdings; and

     Whereas, in connection with the Transaction, Holdings is entering into an engagement
letter dated August 18, 2010 (the “Engagement Letter”) with GSF Capital Markets, LLC
(the “Beneficiary”), under which beneficiary will act as placement agent for Holdings, and the
Beneficiary is simultaneously entering into a Registered Representative Agreement with Brian Conn
in connection therewith (the “Registered Representative Agreement”);

     Whereas, the Guarantor indirectly benefits from Beneficiary’s entry into the
Engagement Letter with Holdings and the Registered Representative Agreement (together the
Engagement Letter and the Registered Representative Agreement are referred to herein as the
“Agreements”); and

     Whereas, the Beneficiary has made it a condition to entering into the Agreements that
the Guarantor provide this Guaranty.

     Now, Therefore, for good and valuable consideration, receipt and sufficiency of which
are hereby acknowledged, the Guarantor agrees with the Beneficiary as follows:

Article I

Defined Terms

     Section 1.01. Definitions. Capitalized terms used herein and not otherwise defined shall have
the respective meanings set forth in the Agreements.

Article II

Representations of the Guarantor

     Section 2.01. Representations and Warranties. The Guarantor represents and warrants that the
Guarantor is an Oregon corporation duly incorporated and validly existing in good standing under
the laws of the State of Oregon. The execution, delivery and performance of this

 

 

Guaranty are within the Guarantor’s powers and, upon approval by Guarantor’s Board of Directors, will have been
duly authorized by all requisite corporate action on Guarantor’s part and
will be enforceable against the Guarantor in accordance with its
terms. Guarantor covenants and agrees to use its best efforts to obtain approval and ratification
of this Guaranty by its Board of Directors by November 15, 2010; provided, however, if such
approval and ratification is not obtained by such time, Beneficiary may, as its sole and exclusive
remedy under this Guaranty and all agreements related thereto, terminate, without further
obligation or liability, the Engagement Letter and the Registered Representative Agreement and be
entitled to its full fixed fee compensation under the Engagement Letter, other than the Success Fee
(as defined therein) unless such Success Fee is otherwise payable prior to termination.

Article III

Guaranty

     Section 3.01. Guaranty of the Obligations. The Guarantor hereby unconditionally and
irrevocably guarantees to the Beneficiary, as primary obligor and not merely as surety, the due and
punctual performance of all of the indebtedness, liabilities and obligations of Holdings to
Beneficiary, whether absolute or contingent, due or to become due, now existing or hereafter
arising, under or pursuant to the Agreements and any other document, instrument or agreement now or
hereafter entered into in connection therewith (the “Obligations”). Without limiting the
generality of the foregoing, the Guarantor’s liability shall extend to performance of all
obligations which constitute part of the Obligations and would be owed by Holdings under the
Agreements but for the fact that they are unenforceable or not allowable due to the existence of a
bankruptcy, insolvency, reorganization or similar proceeding involving Holdings.

     Section 3.02. Guaranty Absolute. The liability of Guarantor hereunder is direct,
unconditional and continuing until terminated in accordance herewith. It is a guaranty of payment
and performance and not of collection only, and may be enforced without requiring Beneficiary to
resort to any other person or entity (including, without limitation, Holdings), right, remedy or
collateral. If for any reason any Obligation shall not be paid promptly when due, Guarantor will
forthwith pay such Obligation to Beneficiary, without regard to any counterclaim, set-off,
deduction or defense of any kind which Holdings or Guarantor may have or assert, and without
abatement, suspension, deferment or reduction on account of any occurrence whatsoever. The
Guarantor guarantees that the Obligations will be performed in accordance with the terms of the
Agreements, regardless of any law, regulation or order now or hereafter in effect affecting any of
such terms or the rights of the Beneficiary, the Guarantor, or Holdings with respect thereto. The
obligations of the Guarantor under this Guaranty are independent of the Obligations, and a separate
action or actions may be brought and prosecuted against the Guarantor to enforce this Guaranty,
irrespective of whether any action is brought against Holdings or whether Holdings is joined in any
such action or actions. The liability of the Guarantor under this Guaranty shall be absolute and
unconditional irrespective of:

     (i) any change in the time, manner or place of performance of all or any of the
Obligations;

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     (ii) any taking, exchange, release or non-perfection of any collateral, or any taking,
release or amendment or waiver of or consent to departure from any other guaranty, for all
or any of the Obligations;

     (iii) any change, restructuring or termination of the corporate structure or existence
of Holdings or the Guarantor, or any bankruptcy, insolvency, reorganization or other
similar proceedings affecting Holdings, or the assets of Holdings;

     (iv) any other circumstance which might otherwise constitute a defense available to,
or a discharge of, Holdings or a guarantor thereof, including the Guarantor;

     (v) any extension, indulgence or renewal with respect to any obligation of Holdings
under the Agreements;

     (vi) any modification of, or amendment or supplement to, any of the Agreements;

     (vii) any furnishing or acceptance of additional security or any release of any
security; or

     (viii) any waiver, compromise, consent or other action or inaction, or any exercise or
non-exercise of any right, remedy or power with respect to Holdings.

     Section 3.03. Indemnity. Guarantor agrees to indemnify and hold harmless Beneficiary
against all obligations, demands and liabilities, by whomever asserted, and against all losses in
any way suffered, incurred or paid by Beneficiary, as a result of or arising out of a default under
any Obligation.

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     Section 3.04. Waiver. To the fullest extent permitted by law, the
Guarantor waives the following: notice of incurring of indebtedness and obligations
by Holdings; acceptance of this Guaranty by Beneficiary; presentment and demand for
payment; protest, notice of protest and notice of dishonor or non-payment of any
instrument evidencing the Obligations and any other notice; any right to require
suit against Holdings or any other party before enforcing this Guaranty; all
defenses which might constitute a legal or equitable discharge of a surety or
guarantor; and all other notices and demands otherwise required by law which the
Guarantor may lawfully waive. The obligation of Guarantor hereunder shall be
effective irrespective of the enforceability of the Obligations or any instrument or
document relating thereto, and irrespective of any present or future law or order of
any government or of any agency thereof purporting to reduce, amend or otherwise
affect any Obligation or vary the terms of payment thereof, and irrespective of any
other circumstance that might affect the liability or constitute a discharge or
defense of a surety or guarantor, all of which are hereby waived to the fullest
extent permitted by law.

The obligations of the Guarantor hereunder are absolute, present and continuing obligations which
are not conditional upon the institution of suit against or the exercise of any remedies against
Holdings, or any attempt to foreclose or realize upon any security for obligations of Holdings or
the taking of any other action with respect to Holdings.

     Section 3.05. No Waiver; Remedies. No failure on the part of the Beneficiary to exercise, and
no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single
or partial exercise of any right hereunder preclude any other or further exercise thereof or the
exercise of any other right. The remedies herein provided are cumulative and not exclusive of any
remedies provided by law.

Article IV

Jurisdiction

     Section 4.01. Consent to Jurisdiction. The Guarantor hereby irrevocably submits to the
jurisdiction of and venue in, federal and/or state courts located in the State of New York for any
action or proceeding arising out of or relating to this Guaranty, and the Guarantor hereby
irrevocably agrees that all claims in respect of such action or proceeding may be heard and
determined in such New York State court or in such Federal court.

Article v

Amendments

     Section 5.01. Amendments, Etc. No amendment or waiver of any provision of this Guaranty, and
no consent to any departure by the Guarantor herefrom, shall in any event be effective unless the
same shall be in writing and signed by the Beneficiary, and then such waiver

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or consent shall be
effective only in the specific instance and for the specific purpose for which given.

Article VI

Notices

     Section 6.01. Addresses for Notices. All notices required or permitted by the terms hereof
shall be in writing. Any written notice shall become effective when actually received or, if
earlier and regardless of whether actually received or not, three days after deposit in the
United States mail, registered or certified mail, postage prepaid, return receipt requested, or by
facsimile, addressed to the party to whom notice is sent. Any written notice to the Beneficiary
shall be directed to the Beneficiary at the address set forth in the Agreements, or to such other
address or facsimile number as the Beneficiary may designate by written notice given to the
Guarantor. Any written notice to the Guarantor shall be directed to the Guarantor at its address
at One Centerpointe Drive, Suite 200, Lake Oswego, Oregon 97035, Attn: General Counsel, or to
such other address or facsimile number as the Guarantor may designate by written notice given to
the Beneficiary.

Article VII

Miscellaneous

          Section 7.01. Miscellaneous. This Guaranty is a continuing guaranty and shall (i) remain
in full force and effect until the earlier of (a) satisfaction in full of the Obligations and (b)
the date upon which there are no longer in force any agreements between them which can give rise to
an Obligation, and (ii) be binding upon the Guarantor, its successors and assigns, and (iii) inure
to the benefit of, and be enforceable by, the Beneficiary and its successors, assignees and
assigns. Without limiting the generality of the foregoing clause (iii), upon the Beneficiary’s
assignment or other transfer of all or any portion of its rights and obligations under the
Agreement in accordance therewith to any other person or entity, such other person or entity shall
thereupon become vested with all the benefits in respect thereof granted to the Beneficiary herein
or otherwise. The Guarantor agrees to pay all costs and expenses (including reasonable legal fees
and expenses) incurred by or on behalf of the Beneficiary in connection with the enforcement of the
Obligations and the Guarantor’s obligations under this Guaranty. To the fullest extent permitted
by law, any provision of this Guaranty that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or
unenforceability without invalidating the remaining provisions and without affecting the validity
or enforceability of such provision in any other jurisdiction. Guarantor hereby further agrees
with Beneficiary, its successors and assigns, as follows: Guarantor will pay any Obligation owed
hereunder without regard to any counterclaim, set-off or deduction of any kind which Guarantor may
have against Beneficiary; and any and all present and future debts and obligations of Holdings to
Guarantor are hereby subordinated to the full payment and performance of all Obligations to
Beneficiary.

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     This Guaranty shall be governed by, and construed in accordance with, the laws of the
State of NEW YORK, without regard to conflict of law principles.

[Remainder of Page Intentionally Left Blank]

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     The undersigned has caused this Guaranty to be executed as of the date first set forth above.

	 	 	 	 	 
	 	The Greenbrier Companies, Inc.

 	 
	 	By:  	/s/ Mark Rittenbaum
 	 
	 	 	Name:  	Mark Rittenbaum 	 
	 	 	Title:  	Executive Vice President 	 
	 

					
	 	
 	 
	 	/s/  Martin R. Baker
 	 
	 	Signature of Witness 	 
	 
	 	 	 
	 	 Martin R. Baker
 	 
	 	Printed name of Witness 	 
	 
	 	 	 
	 	One
Centerpointe Dr., Ste 200

Lake Oswego, OR  97035	 
	 	Address of Witness	 
	 

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