Amendment to Lease Agreement (Open End)
Exhibit 10.4
Daimler
Truck
Financial
Amendment to Lease Agreement
(Open End)
This Amendment to
Lease Agreement (Open End) ("Amendment") is by and between Daimler Trust, a
Delaware statutory trust ("Creditor") and Covenant Transport, Inc., a Tennessee
corporation, CTG Leasing Company, a Nevada corporation, Southern Refrigerated
Transport, Inc., an Arkansas corporation, Star Transportation, Inc., a Tennessee
corporation (individually and collectively, "Borrower") and amends all Lease
Agreements (Open End) (Form Number TFFF1322) by and between Creditor and
Borrower ("Agreement"). The Agreement shall be amended as
follows:
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1.
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Agreement: Defined
Terms. All capitalized terms used herein and not otherwise
defined herein shall have the meanings set forth in the
Agreement. Except as expressly modified hereby, all of the
terms of the Agreement shall remain in full force and
effect.
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2.
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Paragraph
5 shall be modified as follows:
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a.
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Clause
(a) of the second sentence after "consent," shall be modified to
add: "provided, however, Lessee may sublease Equipment in the
ordinary course of its leasing business without Lessor's consent, provided
Lessee gives Lessor prior written notice of such sublease;"
and
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b.
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The
following sentence shall be added after the last
sentence: "Tri-Pak units and Qualcomm units are deemed readily
removable."
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3.
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Paragraph
7 shall be modified as follows:
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a.
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Clause
(3) shall be deleted in its entirety and replaced with the following
language: "the Stipulated Loss Amount established by Lessor and specified
in the Stipulated Loss Schedule".
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4.
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In
Paragraph 8, the following sentence shall be added after the last
sentence: "Lessee agrees to give Lessor prior written notice in
the event Lessee changes its business name or form, or merges into any
other entity.
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5.
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Paragraph
11 shall be modified as follows:
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a.
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Clause
(e) shall be deleted in its
entirety;
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b.
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Clause
(h), after "guarantor of Lessee," shall be modified to add "in favor of
Lessor;" and
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c.
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The
following language shall be added at the end of the
sentence: ", provided Lessor first gives written notice to
Lessee, and Lessee fails to cure within thirty (30) days of receipt of
notice."
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6.
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Paragraph
12 shall be modified as follows:
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a.
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Clause
(3) shall be deleted in its entirety and replaced with the following
language: "the Stipulated Loss Amount established by Lessor and
specified in the Stipulated Loss
Schedule".
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Daimler
Truck
Financial
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7.
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Paragraph
14 shall be modified as follows:
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a.
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Clause
(3) shall be deleted in its entirety and replaced with the following
language: "the Stipulated Loss Amount established by Lessor and
specified in the Stipulated Loss
Schedule".
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b.
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In
the third sentence, all language after "Lease Term" shall be replaced with
"will be equal to the stated residual
value."
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8.
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In
Paragraph 18, the following language shall be deleted from clause (c);
"including insurance proceeds and refunds of insurance
premiums"
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9.
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Except
as modified herein, the terms of the Agreement shall remain in full force
and effect.
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Dated
this 30 day of June, 2008
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Covenant Transport,
Inc., a Tennessee corporation
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CTG Leasing Company, a
Nevada corporation
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By:
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/s/
M. Xxxxx Xxxxxx
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By:
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/s/
M. Xxxxx Xxxxxx
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Its:
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Senior
Vice President
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Its:
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Senior
Vice President
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Southern Refrigerated
Transport, Inc., an Arkansas
corporation
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Star Transportation,
Inc., a Tennessee corporation
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By:
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/s/
M. Xxxxx Xxxxxx
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By:
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/s/
M. Xxxxx Xxxxxx
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Its:
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Senior
Vice President
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Its:
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Senior
Vice President
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Daimler Trust, a
Delaware statutory trust
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By:
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/s/ Xxxxxxx X. Fate | ||
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Its:
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Regional Credit Manager | ||
