AMENDMENT NO. 12 TO LOAN AGREEMENT (CVTI/Covenant Transport)
Exhibit
10.29
AMENDMENT
NO. 12 TO
(CVTI/Covenant
Transport)
THIS
AMENDMENT NO. 12 TO LOAN AGREEMENT, dated as of December 5, 2006 (the
“Amendment”),
is
entered into by and among THREE PILLARS FUNDING LLC (formerly known as THREE
PILLARS FUNDING CORPORATION), (“Three
Pillars”),
SUNTRUST CAPITAL MARKETS, INC. (formerly SunTrust Equitable Securities
Corporation), as administrator (the “Administrator”),
CVTI
RECEIVABLES CORP. (“CVTI”),
and
COVENANT TRANSPORT, INC. (“Covenant”).
Capitalized terms used and not otherwise defined herein are used as defined
in
the Loan Agreement, dated as of December 12, 2000 among Three Pillars, the
Administrator, CVTI and Covenant (as amended to date, the “Loan
Agreement”).
WHEREAS,
the parties hereto desire to further amend the Loan Agreement in certain
respects as provided herein;
NOW
THEREFORE, in consideration of the premises and the other mutual covenants
contained herein, the parties hereto agree as follows:
SECTION
1. Amendment
to the Loan Agreement.
The
definition of “Scheduled Commitment Termination Date” in Section 1.1 of the Loan
Agreement is hereby deleted and replaced with the following:
“Scheduled
Commitment Termination Date:
December 4, 2007.”
SECTION
2. Effect
of
Amendment.
Except
as
modified and expressly amended by this Amendment, the Loan Agreement is in
all
respects ratified and confirmed, and all the terms, provisions and conditions
thereof shall be and remain in full force and effect. This Amendment shall
be
effective as of the date (the “Effective
Date”)
on
which each of the parties hereto delivers to the Administrator a fully executed
original of this Amendment. On and after the Effective Date, all references
in
the Loan Agreement to “this Agreement,” “hereto,” “hereof,” “hereunder” or words
of like import refer to the Loan Agreement as amended by this Amendment.
SECTION
3. Binding
Effect.
This
Amendment shall be binding upon and inure to the benefit of the parties to
the
Loan Agreement and their successors and permitted assigns.
SECTION
4. Governing
Law.
This
Amendment shall be governed by, and construed in accordance with, the laws
of
the State of New York.
SECTION
5. Execution
in Counterparts; Severability.
This
Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original, and all of which taken together shall constitute one and
the
same agreement. Delivery of an executed counterpart of a signature page by
facsimile shall be effective as delivery of a manually executed counterpart
of
this Amendment. In case any provision in or obligation under this Amendment
shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or
of
such provision or obligation in any other jurisdiction, shall not in any way
be
affected or impaired thereby.
[Remainder
of Page Intentionally Left Blank]
IN
WITNESS WHEREOF, the parties have caused this Amendment to be executed by their
respective officers thereunto duty authorized, as of the date first above
written.
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THREE
PILLARS:
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THREE
PILLARS FUNDING LLC
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By:
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/s/
Xxxxx X. Xxxxx
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Title:
Vice President
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THE
BORROWER:
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CVTI
RECEIVABLES CORP.
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By:
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/s/
Xxxx X. Xxxxx
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Title:
CFO
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THE
ADMINISTRATOR:
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SUNTRUST
CAPITAL MARKETS, INC.
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By:
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/s/
Xxxxxxx X. Xxxx
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Title:
Xxxxxxx X. Xxxx
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Managing
Director
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THE
MASTER SERVICER:
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COVENANT
TRANSPORT, INC.,
a
Nevada holding corporation
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By:
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/s/
Xxxx X. Xxxxx
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Title:
CFO
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(Signature
Page to Amendment No. 12 to Loan Agreement (CVTI/Covenant
Transport))
