Letter Agreement, dated as of May 25, 2006, between the registrant and First Tennessee Bank National Association extending the maturity date of the registrants $20.0 million Master Secured Promissory Note under the Amended and Restated Loan and Security Agreement, dated as of September 10, 1998, as modified by Modification Agreement, dated as of June 18, 2002 and by Letter Agreement, dated May 17, 2005
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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 | ||
