December 15, 2009
Exhibit 10.29
December
15, 2009
Xxxx
Xxxxxxx
Wachovia
Bank, N.A.
Commercial
Lending Division, TN1008
000
Xxxxxx Xxxxxx Xxxxx, Xxxxxx Xxxxx
Xxxxxxxxx,
Xxxxxxxxx 00000
Dear
Xxxx:
Reference
is made to that certain Credit Agreement dated as of April 13, 2007 (the “Credit
Agreement”) by and between Astec Industries, Inc. (“Astec”) and Wachovia Bank,
National Association (the “Bank”). Terms used herein and not defined
herein have their respective defined meanings as set forth in the Credit
Agreement.
Pursuant
to the definition of “Line of Credit Loan Maturity Date” contained in the Credit
Agreement. Astec hereby elects to extend the Line of Credit Loan
Maturity Date for a one-year period to May 15, 2012.
Astec
hereby certifies to the Bank that, as of the date hereof, no Default or Event of
Default or Material Adverse Change has occurred or is continuing.
I would
ask that the Bank kindly acknowledge such extension by signing the counterpart
of this letter at the space provided below.
On behalf
of Astec, we appreciate a very professional and positive relationship that has
developed between our two institutions.
Very
truly yours,
ASTEC
INDUSTRIES, INC.
/s/ X. XxXxxx
Xxxx
By: X.
XxXxxx Xxxx
X.X.,
C.F.O. & Treasurer
Acknowledged
and agreed:
WACHOVIA
BANK, NATIONAL ASSOCIATION
By: /s/Xxxx
Xxxxxxx
Title: Senior Vice
President