Modification Agreement Extending Maturity Date of Credit Facility between First Tennessee Bank and Forward Air Corporation
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Summary
This agreement, dated May 24, 2006, is between First Tennessee Bank and Forward Air Corporation. It extends the maturity date of a $20 million line of credit, originally set in a 1998 Loan and Security Agreement, to April 30, 2008. All other terms of the original loan documents remain unchanged. The agreement is signed by representatives of both parties and serves as a one-time modification to the specified terms.
EX-10.1 2 ex10_1.htm EXHIBIT 10.1 Unassociated Document
Exhibit 10.1
[First Tennessee Logo]
| May 24, 2006 |
Mr. Rodney Bell
Forward Air Corporation
P.O. Box1058
Greeneville, TN 37744
Re: Forward Air Corporation Credit Facility
Dear Rodney:
Concerning the terms of the Loan and Security Agreement date September 10, 1998 ,and the Modification Agreement dated June 18, 2002 First Tennessee Bank (“The Bank”) agrees to the following:
| 1. | | The Bank extends the maturity date on the $20,000,000 Master Secured Promissory Note dated September 10, 1998 (the ”Line of Credit”) to April 30, 2008. |
This agreement constitutes a one time modification to the specific items addressed above. All other terms and agreements of the Loan Documents remain in full effect and force.
Sincerely,
| /s/ | Steve Mears |
| Steve Mears | |
| Senior Vice President | |
Accepted as of the 25th day of May, 2006
| By: | /s/ Rodney L. Bell | |
| Rodney Bell, Chief Accounting Officer | ||
| Forward Air Corporation | ||
