Equipment Lease Commitment Letter between First Union Commercial Corporation and USA Truck, Inc.

Summary

First Union Commercial Corporation has proposed to lease equipment to USA Truck, Inc. under terms outlined in an attached exhibit. USA Truck would be responsible for all costs related to the equipment, such as maintenance, taxes, and insurance. The proposal is not a binding commitment until approved by First Union’s Pricing and Credit Committees and will expire if not accepted by November 30, 2002. If accepted, the terms will be formalized in a separate Equipment Lease Agreement.

EX-4.20 3 d03812exv4w20.txt FIRST UNION COMMERCIAL CORP COMMITMENT LETTER EXHIBIT 4.20 FIRST UNION COMMERCIAL CORPORATION USA TRUCK, INC. October 31, 2002 Mr. Cliff Beckham Chief Financial Officer USA Truck, Inc. 3200 Industrial Park Road Van Buren, Arkansas 72956 Dear Mr. Beckham: We are pleased to present our proposal for lease of equipment from First Union Commercial Corporation. The enclosed proposal exhibit contains additional information regarding this proposal and is incorporated herein by reference. If the terms are mutually satisfactory, they will be incorporated in an Equipment Lease agreement which will be executed by the parties. The lease proposal is as follows: 1. LESSEE: USA Truck. 2. LESSOR: First Union Commercial Corporation or its nominee. 3. EQUIPMENT, LEASE TERM AND LEASE PAYMENT: See attached exhibit(s). 4. TYPE OF LEASE: The lease will be a net lease whereby Lessee will be responsible for all expenses related directly or indirectly to the use of the equipment including maintenance, taxes, insurance coverage, etc. Should this proposal be acceptable in principle, please sign and date the enclosed original of this letter and return it to us as an indication of your acceptance, by the expiration date noted below. As is our standard practice, this proposal is subject to final approval by our Pricing and Credit Committees and, as such, should not be deemed to be a commitment on the part of First Union. We appreciate the opportunity to present this proposal and look forward to your favorable acknowledgement of this letter. In the meantime, we would be pleased to receive any questions or comments that you may have. Sincerely, FIRST UNION COMMERCIAL CORPORATION Jody Roberts Director ACCEPTED PROPOSAL EXHIBIT NO. USA TRUCK ----------------------------------- (Seal) By: Cliff Beckham -------------------------------- C.F.O. ----------------------------------- Title Date: November 5, 2002 ------------------------------ THIS PROPOSAL SHALL EXPIRE ON NOVEMBER 30, 2002 UNLESS ACCEPTED BY LESSEE PRIOR TO THAT DATE. 2