Amendment to Credit Agreement between Astec Industries, Inc. and Wachovia Bank, N.A. (December 15, 2009)

Summary

Astec Industries, Inc. and Wachovia Bank, N.A. have agreed to extend the maturity date of their existing credit agreement by one year, moving the new maturity date to May 15, 2012. Astec certifies that there are no current defaults or material adverse changes. Both parties have acknowledged and agreed to this extension in writing.

EX-10.29 2 ex10-29.htm AMENDMENT TO CREDIT AGREEMENT ex10-29.htm

Exhibit 10.29

December 15, 2009

Mike Johnson

Wachovia Bank, N.A.

Commercial Lending Division, TN1008

230 Fourth Avenue North, Eighth Floor

Nashville, Tennessee 37219

Dear Mike:

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/ F. McKamy Hall

By: F. McKamy Hall

V.P., C.F.O. & Treasurer

Acknowledged and agreed:

WACHOVIA BANK, NATIONAL ASSOCIATION

By: /s/Mike Johnson

Title: Senior Vice President