Floor Plan Financing Agreement 41-1621676 Borrower’s Name Tax I.D. number Featherlite, Inc. Address: 13380 US Hwy 63 & 9, Cresco, IA 52136Featherlite Inc • March 31st, 2006 • Truck trailers • Alabama
In this Agreement, we, us, and our mean Regions Bank. You and your mean the Borrower. This Agreement means the Floor Plan Financing Agreement. Capitalized terms used in this Agreement and not otherwise defined are used with the meanings set forth in Schedule I. Any undefined terms shall have the meaning as set forth in the Alabama Uniform Commercial Code.
US BANK November 17, 2005 Featherlite, Inc. Highways 63 & 9 P O Box 320 Cresco, Iowa 52136 Attentions: Jeffery A. Mason Gentlemen: Reference is hereby made to that certain Amended and Restated Loan Agreement dated as of July 31, 2002, by and between...Featherlite Inc • March 31st, 2006 • Truck trailers
This letter will confirm our understanding that the limitation on Capital Expenditures and Capitalized Leases set forth in Section 5.01(o)(iv) of the Loan Agreement shall be amended as follows: a) during Borrower’s fiscal year 2005, the limit shall be increased to $8,000,000.00 of which up to $5,500,000.00 is related to Borrower’s repurchase of real property located in Sanford, Florida and b) during Borrower’s fiscal year 2006, the limit shall be up to $3,000,000. Indebtedness incurred by Borrower in connection with the repurchase of such property will be permitted by Section 5.02(a)(v) of the Loan Agreement.
FEATHERLITE, INC. Highways 63 and 9 Cresco, Iowa 52136Featherlite Inc • March 31st, 2006 • Truck trailers
As you know, Featherlite, Inc. (the “Company”) is exploring various business combination opportunities. We understand that this news may cause uncertainty and that any uncertainty about one’s employment future is always difficult. The Board of Directors wants you to know how important you are to the Company’s future and it has directed management to provide additional incentive to continue your employment with the Company as we seek business combination opportunities. The Compensation Committee and the Board of Directors have approved the following;
