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| URI > SEC Filings for URI > Form 8-K on 4-Feb-2013 | All Recent SEC Filings |
4-Feb-2013
Entry into a Material Definitive Agreement, Creation of a Direct Financial
Amended Accounts Receivable Facility
Effective February 1, 2013, United Rentals, Inc. (the "Company") and United Rentals Receivables LLC II (the "SPV") entered into an assignment and acceptance and amendment agreement (the "Amendment") with Liberty Street Funding LLC ("Liberty"), Market Street Funding LLC ("Market Street"), Gotham Funding Corporation ("Gotham"), The Bank of Nova Scotia ("Scotia"), PNC Bank National Association ("PNC"), The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch ("BTMU") and Bank of America, N.A. ("BOA") relating to the Third Amended and Restated Receivables Purchase Agreement, dated as of September 24, 2012 (the "Receivables Purchase Agreement"), between the SPV, as Seller, the Company, as Collection Agent, Liberty, Market Street and Gotham, as Purchasers, Scotia, as purchaser agent for Liberty, as administrative agent and as a bank, PNC, as purchaser agent for Market Street and as a bank, and BTMU, as purchaser agent for Gotham and as a bank. Under the terms of the Amendment, Scotia assigned a portion of its rights and obligations under the Receivables Purchase Agreement to BOA, and BOA acceded to the Receivables Purchase Agreement as purchaser agent for itself and as a bank. In addition, the purchase limit of the facility under the Receivables Purchase Agreement was increased and the banks increased their respective aggregate commitments under the facility from $475,000,000 to $550,000,000. Following the amendment, Scotia's total commitment remains at $250,000,000 and BOA's commitment is $75,000,000 under the Receivables Purchase Agreement. The Amendment did not modify the Receivables Purchase Agreement other than as required to reflect the accession of BOA and the increase in facility size. Advances under the amended facility will continue to be reflected as debt on our condensed consolidated balance sheets and receivables in the collateral pool will be reflected as assets on our consolidated balance sheets.
The information set forth in Item 1.01 of this Report is incorporated by reference under this Item.
Exhibits
10.1 Assignment and Acceptance Agreement and Amendment No. 1 to Third Amended and Restated Receivables Purchase Agreement, dated as of February 1, 2013, among United Rentals Receivables LLC II, United Rentals, Inc., Liberty Street Funding LLC, Market Street Funding LLC, Gotham Funding Corporation, The Bank of Nova Scotia, PNC Bank National Association, The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch and Bank of America, N.A.
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