Document:

Exhibit 10.11 to June 30, 2005 Form 10-K

    Exhibit
      10.11

    

    AMENDED
      AND RESTATED REVOLVING CREDIT LOAN NOTE*

    

    *amending
      and restating Revolving Credit Loan Note dated September 9, 2004 in the amount
      of $3,000,000.00.

    

    $5,000,000.00

     

    
      
        	
                Due
                  Date: The earlier of Demand

                or
                  September 9, 2006

              	
                Dated:
                  September 9, 2005

              

      

       

    

    FOR
      VALUE RECEIVED, the
      undersigned ("Borrower"), promises to pay to the order of GREENFIELD
      COMMERCIAL CREDIT, L.L.C., a
      Michigan limited liability company (the "Lender"), at its office at
      300 East Long Lake Road, Suite 180, Bloomfield Hills, Michigan 48304,
      or at
      such other place as Lender may designate in writing, the principal sum of Five
      Million and 00/100 Dollars ($5,000,000.00), or such lesser sum as shall have
      been advanced by Lender to Borrower pursuant to that certain Second Amendment
      To
      Loan and Security Agreement dated as of this date, between Borrower and Lender
      (which, together with all amendments and modifications thereof, is hereinafter
      referred to as the "Loan Agreement"), plus interest as hereinafter provided,
      in
      lawful money of the United States of America, in accordance with the terms
      hereof.

    

    The
      unpaid principal balance of this Amended And Restated Revolving Credit Loan
      Note
      ("Note") shall bear interest computed upon the basis of a year of 360 days
      for
      the actual number of days elapsed in a month, at a rate of interest (the
      "Effective Rate") which is equal to four and one-half (4.5) percentage points
      above the prime rate (hereafter defined), as such rate shall vary from time
      to
      time, upwards and downwards, and each such Prime Rate change shall cause an
      identical change in the Effective Rate to occur effective immediately. "Prime
      Rate" means that rate of interest published from day to day in the WALL
      STREET JOURNAL in
      its
Money
      Rates column
      as
      the "Prime Rate." Should such publication not continue to publish the Prime
      Rate
      or a substitute rate, then Lender will select a comparable announced
      rate.

    

    Interest
      on all principal amounts advanced by Lender from time to time and unpaid by
      Borrower shall be paid on the first (1st) day of the month following execution
      of this Note, and on the same day of each month thereafter until the Due Date,
      upon which date the entire unpaid principal balance of this Note, together
      with
      all accrued and unpaid interest, shall be due and payable in full. Borrower
      shall pay to Lender a late charge of five percent (5%) of any monthly payment
      not received by Lender within ten (10) calendar days after said payment is
      due,
      which late charge shall be payable on the next monthly payment date or on
      demand. In addition to the foregoing, Borrower shall pay to Lender on the first
      day of each month with respect to the prior calendar month or portion thereof,
      the amount, if any, necessary to pay the fees as set forth in the Loan
      Agreement.

    

    Advances
      of principal, repayment, and readvances may be made under this Note from time
      to
      time, upon the terms set forth in the Loan Agreement and said Loan Agreement
      is
      incorporated herein by reference. Mandatory repayments of principal before
      the
      Due Date shall be made by Borrower to Lender pursuant to the Loan Agreement.
      If,
      prior to the Due Date, Borrower pays the balance of the Note after Demand or
      terminates the Loan, whether voluntarily or involuntarily, Borrower shall pay
      to
      Lender as liquidated damages and as compensation for the costs of being prepared
      to make funds available under the Loan Agreement a termination fee as set forth
      in the Loan Agreement.

    

    All
      advances made hereunder shall be charged to a loan account in Borrower's name
      on
      Lender's books, and Lender shall debit to such account the amount of each
      advance made to, and credit to such account the amount of each repayment made
      by
      Borrower. Lender shall furnish Borrower with a monthly statement of Borrower's
      loan account, which statement shall be deemed to be correct, accepted by, and
      binding upon Borrower, unless Lender receives a written statement of exceptions
      from Borrower within thirty (30) days after such statement has been furnished.
      Borrower expressly assumes all risks of loss or delay in the delivery of any
      payments made by mail, and no course of conduct or dealing shall affect
      Borrower's assumption of these risks.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Upon
      the
      Due Date, which Borrower acknowledges may be upon demand, Lender, without prior
      notice to Borrower, may declare the entire unpaid principal balance of this
      Note
      and all accrued interest, together with all other indebtedness of Borrower
      to
      Lender, to be immediately due and payable. Upon the occurrence of any Default
      specified on the Loan Agreement or upon demand, the unpaid principal balance
      of
      this Note shall bear interest at a rate which is four percent (4%) greater
      than
      the Effective Rate otherwise applicable. After Default or Demand, Lender may
      apply its own indebtedness or liability to Borrower to any indebtedness due
      under this Note. Borrower agrees to pay all of the Lender's costs incurred
      in
      the collection of this Note as provided in the Loan Agreement.

    

    Acceptance
      by Lender of any payment in an amount less than the amount then due shall be
      deemed an acceptance on account only. Upon any Default, neither the failure
      of
      the Lender promptly to exercise its right to declare the outstanding principal
      and accrued unpaid interest hereunder to be immediately due and payable, nor
      the
      failure of the Lender to demand strict performance of any other obligation
      of
      the Borrower or any other person who may be liable hereunder, shall constitute
      a
      waiver of any such rights, nor a waiver of such rights in connection with any
      future default on the part of the Borrower or any other person who may be liable
      hereunder.

    

    Borrower
      acknowledges that no Default is necessary for Lender to make
      Demand.

    

    Borrower
      and all endorsees, sureties and guarantors hereof hereby jointly and severally
      waive presentment for payment, demand, notice of non-payment, notice of protest
      or protest of this Note, and Lender diligence in collection or bringing suit,
      and do hereby consent to any and all extensions of time, renewals, waivers
      or
      modifications as may be granted by Lender with respect to payment or any other
      provisions of this Note, and to the release of any collateral or any part
      thereof, with or without substitution. The liability of Borrower under this
      Note
      shall be absolute and unconditional, without regard to the liability of any
      other party. This Note and all rights and obligations hereunder shall be
      governed by the laws of the State of Michigan.

    

    In
      no
      event whatsoever shall the interest rate and other charges charged hereunder
      exceed the highest rate permissible under any law which a court of competent
      jurisdiction shall, in the final determination, deem applicable hereto. In
      the
      event that a court determines that Lender has received interest or other charges
      hereunder in excess of the highest rate applicable hereto, Lender shall either,
      in its sole discretion, promptly apply such amounts to the principal due
      hereunder or refund such amount to Borrower and the provisions herein shall
      be
      deemed amended to provide for such permissible rate.

    

    This
      Note
      is issued pursuant to the terms of the Loan Agreement and is secured by the
      Collateral, as defined in the Loan Agreement. All of the terms, covenants and
      conditions of the Loan Agreement are hereby made a part of this Note and are
      hereby incorporated by reference.

    

    "BORROWER"

    AHPC
      HOLDINGS, INC.,

    a
      Maryland corporation

    

    By:______________________________________

          
Alan
      Zeffer

    Its: President

    

    and

    

    AMERICAN
      HEALTH PRODUCTS CORPORATION a
      Texas
      corporation

    

    By:_______________________________________

          
Alan
      Zeffer

    Its: President

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    Pay
      to
      the order of Standard Federal Bank with recourse, representations and
      warranties.

    

    Greenfield
      Commercial Credit, LLC

    a
      Michigan limited liability company

    

    By:
      GCC
      Management, Inc.

    

    By:______________________________

         
Donald
      G.
      Barr, Jr.

    Its: President

     

    
      3Exhibit 10.1d

 

Execution Copy

 

AMENDMENT NO. 4

 

This AMENDMENT No. 4 dated as of October 26,
2004 (“Amendment No. 4”), is entered into by and among H&E
EQUIPMENT SERVICES L.L.C., a Louisiana limited liability company (“H&E”),
GREAT NORTHERN EQUIPMENT, INC., a Montana corporation (“Great Northern”
and together with H&E, individually a “Borrower” and jointly,
severally and collectively, the “Borrowers”), H&E HOLDINGS, L.L.C.,
a Delaware limited liability company, GNE INVESTMENTS, INC., a Washington
corporation and H&E FINANCE CORP., a Delaware corporation, the persons
designated as “Lenders” on the signature pages hereto, and GENERAL
ELECTRIC CAPITAL CORPORATION, a Delaware corporation, as Agent.

 

WHEREAS, Borrowers, the other Credit Parties,
the Lenders (as defined therein) and Agent are party to the Credit Agreement
dated as of June 17, 2002 (including all annexes, exhibits and schedules
thereto, and as amended by Amendment No. 1 dated as of March 31,
2003, Amendment No. 2 dated as of May 14, 2003 and Amendment No. 3
dated as of February 10, 2004, and as further amended, restated,
supplemented or otherwise modified and in effect from time to time, “Original
Credit Agreement”; all capitalized terms defined in the Original Credit
Agreement and not otherwise defined herein have the meanings assigned to them
in the Original Credit Agreement or in Annex A thereto); and

 

WHEREAS, Borrowers and Lenders, subject to Section 3
hereof, wish to amend the Original Credit Agreement in the manner set forth
below.

 

NOW, THEREFORE, in consideration of the
premises and the agreements, provisions and covenants herein contained,
Borrowers, Credit Parties, Lenders and Agent agree as follows:

 

SECTION 1.

AMENDMENTS TO ORIGINAL CREDIT
AGREEMENT

 

Subject to the satisfaction of the conditions
to effectiveness referred to in Section 2 hereof, the Original
Credit Agreement is hereby amended as follows:

 

(a)                                  The Original Credit Agreement is hereby
amended by adding the following new Section l.l(a)(iii) immediately
following Section l.l(a)(ii):

 

“(iii) Notwithstanding the foregoing, without
the prior written consent of Requisite Lenders, Great Northern shall not
request any Revolving Credit Advance or any issuance of a Letter of Credit, and
unless Requisite Lenders shall have given consent in respect of any such
request, no Lender shall be obligated to make any Revolving Credit Advance to
Great Northern or advance any Letter of Credit for the account or at the
request of Great Northern. Nothing contained in this Section l.l(a)(iii) shall
affect or limit Great Northern’s liability in respect of any of its Obligations
or any Obligations of H&E.”

 

(b)                                 Annex F of the Original Credit Agreement is
hereby amended by adding the following new paragraph immediately following
paragraph (h) appearing therein:

 

“Notwithstanding the foregoing, Great Northern shall
have no obligation to deliver the Collateral Reports identified in this Annex F
(other than the Collateral Reports identified in paragraph (e) of this
Annex F) (i) until such time as Agent shall request, or (ii) Requisite
Lenders shall have given their prior written consent to any Revolving Credit
Advance or issuance of any Letter of Credit pursuant to Section l.l(a)(iii).

 

 

SECTION 2.

CONDITIONS
TO EFFECTIVENESS

 

This Amendment No. 4 shall become effective on November 1,
2004 (the “Effective Date”) in the event that on or prior to such date:

 

(a)                                  Agent shall have received one or more
counterparts of this Amendment No. 4 executed and delivered by Borrowers,
the other Credit Parties, Agent and the Lenders; and

 

(b)                                 there shall be no continuing Default or Event
of Default (after giving effect to the amendments contemplated by this
Amendment No. 4 and the representations and warranties of the Borrowers
contained in this Amendment No. 4 shall be true and correct in all
material respects.

 

SECTION 3.

LIMITATION
ON SCOPE

 

Except as expressly amended hereby, all of
the representations, warranties, terms, covenants and conditions of the Loan
Documents shall remain in full force and effect in accordance with their
respective terms. The amendments set forth herein shall be limited precisely as
provided for herein and shall not be deemed to be waivers of, amendments of,
consents to or modifications of any term or provision of the Loan Documents or
any other document or instrument referred to therein or of any transaction or
further or future action on the part of Borrowers or any other Credit Party
requiring the consent of Agent or Lenders except to the extent specifically
provided for herein. Agent and Lenders have not and shall not be deemed to have
waived any of their respective rights and remedies against Borrowers or any
other Credit Party for any existing or future Defaults or Event of Default.

 

SECTION 4.

MISCELLANEOUS

 

(a)                                  Borrowers hereby represent and warrant as
follows:

 

(i)            this
Amendment No. 4 has been duly authorized and executed by Borrowers and
each other Credit Party, and the Original Credit Agreement, as amended by this
Amendment No. 4, is the legal, valid and binding obligation of Borrowers
and each other Credit Party that is a party thereto, enforceable in accordance
with its terms, except as such enforceability may be limited by applicable
bankruptcy, moratorium and similar laws affecting the rights of creditors in
general; and

 

(ii)           Borrowers
repeat and restate the representations and warranties of Borrowers contained in
the Original Credit Agreement as of the date of this Amendment No. 4 and
as of the Effective Date, except to the extent such representations and
warranties relate to a specific date.

 

(b)                                 This Amendment No. 4 is being delivered
in the State of New York.

 

2

 

(c)                                  Borrowers and the other Credit Parties hereby
ratify and confirm the Original Credit Agreement as amended hereby, and agree
that, as amended hereby, the Original Credit Agreement remains in full force
and effect.

 

(d)                                 Borrowers and the other Credit Parties agree
that all Loan Documents to which each such Person is a party remain in full
force and effect notwithstanding the execution and delivery of this Amendment No. 4.

 

(e)                                  This Amendment No. 4 may be executed by
the parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed an original, but all of which counterparts together
shall constitute but one and the same instrument.

 

(f)                                    All references in the Loan Documents to the “Credit
Agreement” and in the Original Credit Agreement as amended hereby to “this
Agreement,” “hereof,” “herein” or the like shall mean and refer to the Original
Credit Agreement as amended by this Amendment No. 4 (as well as by all
subsequent amendments, restatements, modifications and supplements thereto).

 

(g)                                 Each of the following provisions of the
Credit Agreement is hereby incorporated herein by this reference with the same
effect as though set forth in its entirety herein, mutatis mutandis, and as if “this Agreement” in any such
provision read “this Amendment No. 4”: Section 11.6,
(Severability), Section 11.9 (Governing Law), Section 11.10
(Notices), Section 11.11 (Section Titles) Section 11.13
(Waiver of Jury Trial), Section 11.16 (Advice of Counsel) and Section 11.17
(No Strict Construction).

 

[SIGNATURE PAGES FOLLOW]

 

3

 

WITNESS the due execution hereof
by the respective duly authorized officers of the undersigned as of the date
first written above.

 

	
   

  	
  BORROWERS:

  
	
   

  	
   

  
	
   

  	
  H&E EQUIPMENT SERVICES, L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Engquist

  	
   

  
	
   

  	
   

  	
  Name:

  	
   John Engquist

  
	
   

  	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  GREAT NORTHERN EQUIPMENT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Engquist

  	
   

  
	
   

  	
   

  	
  Name:

  	
   John Engquist

  
	
   

  	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CREDIT PARTIES:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  H&E HOLDINGS, L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Engquist

  	
   

  
	
   

  	
   

  	
  Name:

  	
   John Engquist

  
	
   

  	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  GNE INVESTMENTS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Engquist

  	
   

  
	
   

  	
   

  	
  Name:

  	
   John Engquist

  
	
   

  	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  H&E FINANCE CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Engquist

  	
   

  
	
   

  	
   

  	
  Name:

  	
   John Engquist

  
	
   

  	
   

  	
  Title:

  	
  CEO

  
					

 

SIGNATURE PAGE TO
AMENDMENT NO. 4

 

 

	
   

  	
  AGENT AND LENDERS:

  
	
   

  	
   

  
	
   

  	
  GENERAL ELECTRIC CAPITAL

  CORPORATION,

  as Agent and a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.,

  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PNC BANK, NATIONAL ASSOCIATION,

  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LASALLE BUSINESS CREDIT, LLC.

  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  ORIX FINANCIAL SERVICES, INC.,

  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

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