AMENDMENT NO. 4 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT

Exhibit 10.12(b)

EXECUTION COPY

AMENDMENT NO. 4 TO AMENDED AND
RESTATED RECEIVABLES PURCHASE AGREEMENT

This AMENDMENT NO. 4 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of June 29, 2009 (this “Amendment”), is by and among MANITOWOC FUNDING, LLC, as Seller, THE MANITOWOC COMPANY, INC., as Servicer, HANNOVER FUNDING COMPANY LLC, as Purchaser, and NORDDEUTSCHE LANDESBANK GIROZENTRALE, as Agent.

WHEREAS, the parties hereto are parties to that certain Amended and Restated Receivables Purchase Agreement, dated as of December 21, 2006 (as amended, supplemented or otherwise modified from time to time, the “Agreement”); and

WHEREAS, the parties hereto desire to amend the Agreement as set forth herein;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

SECTION 1. Definitions.  Capitalized terms defined in the Agreement and used but not otherwise defined herein shall have the meanings assigned thereto in the Agreement.

SECTION 2. Amendments.  The Agreement is hereby amended as follows:

(a) The definition of “Credit Agreement” set forth in Exhibit I to the Agreement is amended by replacing the date “November 6, 2008” where it appears therein with the date “June 12, 2009”.

(b) The following new defined term is hereby added to Exhibit I to the Agreement in appropriate alphabetical order:

“Consolidated Senior Secured Leverage Ratio” has the meaning set forth in the Credit Agreement, without giving effect to any amendment, amendment and restatement, supplement or other modification to the Credit Agreement (unless such amendment, amendment and restatement, supplement or other modification has been consented to in writing by the Agent).

(c) The following defined term is hereby deleted from Exhibit I to the Agreement:

“Consolidated Senior Leverage Ratio” has the meaning set forth in the Credit Agreement, without giving effect to any amendment, amendment and restatement, supplement or other modification to the Credit Agreement (unless such amendment, amendment and restatement, supplement or other modification has been consented to in writing by the Agent).

(d) Clause (s) of Exhibit IV to the Agreement is replaced in its entirety with the following:

(s) Financial Covenants.

(i) Maximum Consolidated Total Leverage Ratio.  The Servicer will cause the Consolidated Total Leverage Ratio at all times during the fiscal quarters of the Servicer set forth below to be less than the ratio set forth opposite such fiscal quarter below:

Fiscal Quarter Ending		Ratio
June 30, 2009		5.25:1.00
September 30, 2009		6.625:1.00
December 31, 2009		7.125:1.00
March 31, 2010		7.375:1.00
June 30, 2010		7.375:1.00
September 30, 2010		6.75:1.00
December 31, 2010		6.25:1.00
March 31, 2011		6.25:1.00
June 30, 2011		6.00:1.00
September 30, 2011		5.75:1.00
December 31, 2011		5.125:1.00
March 31, 2012		5.00:1.00
June 30, 2012		4.50:1.00
September 30, 2012		4.00:1.00
December 31, 2012, and thereafter		3.50:1.00

(ii) Maximum Consolidated Senior Secured Leverage Ratio. The Servicer will cause the Consolidated Senior Secured Leverage Ratio at all times during the fiscal quarter of the Servicer set forth below to be less than the ratio set forth opposite such fiscal quarter below:

Fiscal Quarter Ending		Ratio
June 30, 2011		5.25:1.00
September 30, 2011		5.25:1.00
December 31, 2011		4.50:1.00
March 31, 2012		4.50:1.00
June 30, 2012		4.00:1.00
September 30, 2012		4.00:1.00
December 31, 2012, and thereafter		3.50:1.00

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(iii) Minimum Consolidated Interest Coverage Ratio.  The Servicer will not permit the Consolidated Interest Coverage Ratio for any fiscal quarter of the Servicer set forth below to be less than or equal to the ratio set forth opposite such fiscal quarter below:

Fiscal Quarter Ending		Ratio
June 30, 2009		2.75:1.00
September 30, 2009		2.25:1.00
December 31, 2009		1.875:1.00
March 31, 2010		1.875:1.00
June 30, 2010		2.00:1.00
September 30, 2010		2.125:1.00
December 31, 2010		2.125:1.00
March 31, 2011		2.125:1.00
June 30, 2011		2.25:1.00
September 30, 2011		2.30:1.00
December 31, 2011		2.40:1.00
March 31, 2012		2.625:1.00
June 30, 2012		2.75:1.00
September 30, 2012, and thereafter		3.00:1.00

SECTION 3. Representations and Warranties.  On the date hereof, each of the Seller and Manitowoc hereby represents and warrants (as to itself) to the Purchaser and the Agent as follows:

(a) after giving effect to this Amendment, no event or condition has occurred and is continuing which constitutes a Termination Event or Unmatured Termination Event;

(b) after giving effect to this Amendment, the representations and warranties of such Person set forth in the Agreement and each other Transaction Document are true and correct as of the date hereof, as though made on and as of such date (except to the extent such representations and warranties relate solely to an earlier date and then as of such earlier date); and

(c) this Amendment constitutes the valid and binding obligation of such Person, enforceable against such Person in accordance with its terms.

In addition to the foregoing, the Servicer represents and warrants to the Seller, the Purchaser and the Agent that that certain Amendment No. 2 to the Credit Agreement has become effective in accordance with Section 4 thereof.

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SECTION 4. Effectiveness.  This Amendment shall be effective, as of the date hereof, upon receipt by the Agent of the following (in each case, in form and substance reasonably satisfactory to the Agent):

(a) counterparts of this Amendment duly executed by each of the parties hereto; and

(b) an executed copy of a letter from JPMorgan Chase Bank, N.A. to Manitowoc confirming that the transactions contemplated by the Agreement constitute a “Permitted Securitization” under the Credit Agreement.

SECTION 5. Miscellaneous.  The Agreement, as amended hereby, remains in full force and effect.  Any reference to the Agreement from and after the date hereof shall be deemed to refer to the Agreement as amended hereby, unless otherwise expressly stated.  This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which then taken together shall constitute one and the same Amendment.  This Amendment may be executed by facsimile or delivery of a “.pdf” copy of an executed counterpart hereof.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York (including Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York, but without regard to any other conflict of laws provisions thereof) and the obligations, rights and remedies of the parties under this Amendment shall be determined in accordance with such laws.

[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, as of the date first above written.

MANITOWOC FUNDING, LLC,

as Seller

By:

Name:

Title:

Amendment No. 4 to Amended and Restated
Receivables Purchase Agreement

S-1

THE MANITOWOC COMPANY, INC.,

as Servicer

By:

Name:

Title:

Amendment No. 4 to Amended and Restated
Receivables Purchase Agreement

S-2

NORDDEUTSCHE LANDESBANK GIROZENTRALE, as Agent

By:

Name:

Title:

By:

Name:

Title:

Amendment No. 4 to Amended and Restated
Receivables Purchase Agreement

S-3

HANNOVER FUNDING COMPANY LLC,

as Purchaser

By:

Name:

Title:

Amendment No. 4 to Amended and Restated
Receivables Purchase Agreement

S-4