1 Exhibit 10.7(d) EXECUTION COPY AMENDMENT NO. 4 Dated as of December 31, 1997 to SECOND AMENDED AND RESTATED CREDIT AGREEMENT Dated as of August 5, 1997 THIS AMENDMENT NO. 4 ("Amendment") is made as of December 31, 1997 by and among Advanced Accessory Systems, LLC (formerly known as AAS Holdings, LLC), SportRack, LLC (formerly known as Advanced Accessory Systems, LLC), Valley Industries, LLC, Brink International BV and Brink BV (the "Borrowers"), the financial institutions listed on the signature pages hereof (the "Lenders") and NBD Bank, as Administrative Agent and Documentation and Collateral Agent, and The Chase Manhattan Bank, as Co-Administrative Agent and Syndication Agent (the "Agents"), under that certain Second Amended and Restated Credit Agreement dated as of August 5, 1997 by and among the Borrowers, the Lenders and the Agents (as amended, the "Credit Agreement"). Defined terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. WHEREAS, the Borrowers, the Lenders and the Agents have agreed to amend the Credit Agreement on the terms and conditions set forth herein; NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders and the Agents have agreed to the following amendments to the Credit Agreement. 1. Amendments to Credit Agreement. Effective as of December 31, 1997 and subject to the satisfaction of the conditions precedent set forth in Section 2 below, the Credit Agreement is hereby amended as follows: 1.1 Section 6.4(E) of the Credit Agreement is hereby amended to add the following immediately at the end thereof: "and provided further that for the fiscal quarter ending December 31, 1997, the Leverage Ratio shall be calculated including EBITDA for the business acquired by Ellebi S.r.l. from Ellebi S.p.A for the four quarter period ending on such day calculated on a pro forma basis using historical audited and reviewed unaudited financial statements obtained from Ellebi S.p.A." 2. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the conditions precedent that the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrowers, the Required Lenders and the Agents. Upon the satisfaction of the foregoing conditions precedent, this Amendment shall become effective with respect to the amendments set forth in Section 1 above. 3. Representations and Warranties of the Borrowers. Each Borrower hereby represents and warrants as follows: 2 (a) This Amendment and the Credit Agreement as amended hereby constitute legal, valid and binding obligations of the Borrowers and are enforceable against the Borrowers in accordance with their terms. (b) As of December 31, 1997, (i) there exists no Default or Unmatured Default under the Credit Agreement, as amended hereby, and (ii) the representations and warranties contained in Article V of the Credit Agreement, as amended hereby, are true and correct in all material respects, except for representations and warranties made with reference to a specific date which representations and warranties are true and correct in all material respects as of such date. 4. Reference to and Effect on the Credit Agreement and Security Agreements. (a) Upon the effectiveness of Section 1 hereof, each reference in any Loan Document to such Loan Document or any other Loan Document shall mean and be a reference to the applicable Loan Document as amended hereby. (b) Except as specifically amended above, the Credit Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Agents or the Lenders, nor constitute a waiver of any provision of the Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith. 5. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York. 6. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 7. Counterparts. This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. -2- 3 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written. ADVANCED ACCESSORY SYSTEMS, LLC as a Borrower By: /s/ Terence C. Seikel ---------------------------- Name: Terence C. Seikel Title: Vice President SPORTRACK, LLC as a Borrower By: ADVANCED ACCESSORY SYSTEMS, LLC Its Manager By: /s/ Terence C. Seikel ---------------------------- Name: Terence C. Seikel Title: Vice President VALLEY INDUSTRIES, LLC as a Borrower By: ADVANCED ACCESSORY SYSTEMS, LLC Its Manager By: /s/ Terence C. Seikel ---------------------------- Name: Terence C. Seikel Title: Vice President BRINK INTERNATIONAL BV as a Borrower By: /s/ Terence C. Seikel ---------------------------- Name: Terence C. Seikel Title: Vice President BRINK BV as a Borrower By: /s/ Terence C. Seikel ---------------------------- Name: Terence C. Seikel Title: Vice President -3- 4 NBD BANK as the Administrative Agent and the Documentation and Collateral Agent, and as a Lender By: /s/ William J. Maxbauer ----------------------------- Name: William J. Maxbauer Title: Vice President THE CHASE MANHATTAN BANK as the Co-Administrative Agent and the Syndication Agent, and as a Lender By: /s/ Andris G. Kalnins ----------------------------- Name: Andris G. Kalnins Title: Vice President FIRST UNION NATIONAL BANK as a Lender By: /s/ Mark B. Felke ----------------------------- Name: Mark B. Felke Title: Senior Vice President THE BANK OF NOVA SCOTIA as a Lender By: /s/ F.C.H. Ashby ----------------------------- Name: F.C.H. Ashby Title: Senior Manager Loan Operations COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., "RABOBANK NEDERLAND", NEW YORK BRANCH as a Lender By: /s/ W. Jeffrey Vollack ----------------------------- Name: W. Jeffrey Vollack Title: Senior Credit Officer Senior Vice President By: /s/ M. Christina Debler ----------------------------- Name: M. Christina Debler Title: Vice President -4- 5 LASALLE NATIONAL BANK as a Lender By: /s/ Thomas J. Ranville ----------------------------- Name: Thomas J. Ranville Title: Vice President MICHIGAN NATIONAL BANK as a Lender By: ----------------------------- Name: Title: NATIONAL CITY BANK (CLEVELAND) as a Lender By: /s/ Marybeth S. Howe ----------------------------- Name: Marybeth S. Howe Title: Vice President COMERICA BANK as a Lender By: /s/ Mark B. Grover ----------------------------- Name: Mark B. Grover Title: Vice President VAN KAMPEN AMERICA CAPITAL PRIME RATE INCOME TRUST as a Lender By: ----------------------------- Name: Title: DEBT STRATEGIES FUND, INC. as a Lender By: ----------------------------- Name: Title: -5-