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Exhibit 10.25

 
AMENDMENT NO. 2 TO AMENDED AND RESTATED
CREDIT AGREEMENT

This Amendment No. 2 to Amended and Restated Credit Agreement (this "Agreement")
dated as of March 3, 2006 is made by and among COVENANT ASSET MANAGEMENT, INC.,
a Nevada corporation (the "Borrower"), COVENANT TRANSPORT, INC., a Nevada
corporation and the owner of 100% of the issued and outstanding common stock of
the Borrower (the "Parent"), BANK OF AMERICA, N.A., a national banking
association organized and existing under the laws of the United States ("Bank of
America"), in its capacity as administrative agent for the Lenders (as defined
in the Credit Agreement (as defined below)) (in such capacity, the "Agent"),
each of the Lenders signatory hereto and each of the Guarantors (as defined in
the Credit Agreement) signatory hereto.

W I T N E S S E T H:

WHEREAS, the Borrower, the Parent, the Agent and the Lenders have entered into
that certain Amended and Restated Credit Agreement dated as of December 16,
2004, as amended by Amendment No. 1 to Amended and Restated Credit Agreement
dated as of July 18, 2005 (as hereby amended and as from time to time hereafter
further amended, modified, supplemented, restated, or amended and restated, the
"Credit Agreement"; the capitalized terms used in this Agreement not otherwise
defined herein shall have the respective meanings given thereto in the Credit
Agreement), pursuant to which the Lenders have made available to the Borrower
various revolving credit facilities, including a letter of credit facility and a
swing line facility; and

WHEREAS, each of the Parent and the Guarantors has entered into a Facility
Guaranty pursuant to which it has guaranteed certain or all of the obligations
of the Borrower under the Credit Agreement and the other Loan Documents, and the
Parent, the Borrower and the Guarantors have entered into various of the
Security Instruments to secure their respective obligations and liabilities in
respect the Loans and the Loan Documents; and

WHEREAS, the Parent and the Borrower have advised the Agent and the Lenders that
they desire to amend certain provisions of the Credit Agreement as set forth
below, and the Agent and the Lenders signatory hereto are willing so to effect
such amendments contained herein on the terms and conditions contained in this
Agreement;

NOW, THEREFORE, in consideration of the premises and further valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

1. Amendment to Credit Agreement. Subject to the terms and conditions set forth
herein, the Credit Agreement is hereby amended by deleting the definition of
"Total Letter of Credit Commitment" in its entirety and inserting the following
in its place:

"Total Letter of Credit Commitment" means an amount not to exceed $85,000,000.

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2. Conditions Precedent. This Agreement and the amendments to the Credit
Agreement provided in Paragraph 1 shall be effective upon the satisfaction of
the following conditions precedent:

(a) The Agent shall have received each of the following documents or instruments
in form and substance reasonably acceptable to the Agent:

(i) ten (10) original counterparts of this Agreement, duly executed by the
Parent, the Borrower, the Agent, each Guarantor, and each Lender; and

(ii) such other documents, instruments, opinions, certifications, undertakings,
further assurances and other matters as the Agent shall reasonably request.

(b) all fees and expenses payable to the Agent and the Lenders (including the
fees and expenses of counsel to the Agent) accrued to date shall have been paid
in full to the extent invoiced prior to or on the effective date of this
Agreement, but without prejudice to the later payment of accrued fees and
expenses not so invoiced.

3. Consent of the Parent and the Guarantors. Each of the Parent and the
Guarantors has joined in the execution of this Agreement for the purposes of
consenting hereto and for the further purpose of confirming its guaranty of the
Obligations of the Borrower pursuant to the Facility Guaranty to which the
Parent or such Guarantor is party and its obligations under each other Loan
Documents to which it is a party. The Parent and each Guarantor hereby consents,
acknowledges and agrees to the amendments of the Credit Agreement set forth
herein and hereby confirms and ratifies in all respects the Facility Guaranty
and each other Loan Document to which the Parent or such Guarantor is a party
and the enforceability of such Facility Guaranty and each such other Loan
Document against the Parent and such Guarantor in accordance with its terms.

4. Representations and Warranties. In order to induce the Agent and the Lenders
party hereto to enter into this Agreement, each of the Parent and the Borrower
represent and warrant to the Agent and such Lenders as follows:

(a) The representations and warranties made by the Parent and the Borrower in
Article VIII of the Credit Agreement (after giving effect to this Agreement) and
by each Loan Party in each of the other Loan Documents to which it is a party
are true and correct in all material respects on and as of the date hereof,
except to the extent that such representations and warran-ties expressly relate
to an earlier date;

(b) Since the date of the most recent financial reports of the Parent delivered
pursuant to Section 9.1 of the Credit Agreement, no act, event, condition or
circumstance has occurred or arisen which, singly or in the aggregate with one
or more other acts, events, occurrences or conditions (whenever occurring or
arising), has had or could reasonably be expected to have a Material Adverse
Effect;

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(c) The Persons appearing as Guarantors on the signature pages to this Agreement
constitute all Persons who are required to be Guarantors pursuant to the terms
of the Credit Agreement and the other Loan Documents, including without
limitation all Persons who became Subsidiaries or were otherwise required to
become Guarantors after the Closing Date as a result of any merger, acquisition
or other reorganization, and each such Person has executed and delivered a
Facility Guaranty;

(d) This Agreement has been duly authorized, executed and delivered by the
Parent, the Borrower and the Guarantors party hereto and constitutes a legal,
valid and binding obligation of such parties, except as may be limited by
general principles of equity or by the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar law affecting creditors'
rights generally; and

(e) No Default or Event of Default has occurred and is continuing either
immediately prior to or immediately after the effectiveness of this Agreement.

5. Entire Agreement. This Agreement, together with all the Loan Documents
(collectively, the "Relevant Documents"), sets forth the entire understanding
and agreement of the parties hereto in relation to the subject matter hereof and
supersedes any prior negotiations and agreements among the parties relative to
such subject matter. No promise, condition, representation or warranty, express
or implied, not herein set forth shall bind any party hereto, and not one of
them has relied on any such promise, condition, representation or warranty. Each
of the parties hereto acknowledges that, except as otherwise expressly stated in
the Relevant Documents, no representations, warranties or commitments, express
or implied, have been made by any party to the other. None of the terms or
conditions of this Agreement may be changed, modified, waived or canceled orally
or otherwise, except as permitted pursuant to Section 13.6 of the Credit
Agreement.

6. Full Force and Effect of Agreement. Except as hereby specifically amended,
modified or supplemented, the Credit Agreement and all other Loan Documents are
hereby confirmed and ratified in all respects by each party hereto and shall be
and remain in full force and effect according to their respective terms.

7. Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which shall together constitute one and the same
instrument.

8. Governing Law. This Agreement shall in all respects be governed by, and
construed in accordance with, the laws of the state of Tennessee.

9. Enforceability. Should any one or more of the provisions of this Agreement be
determined to be illegal or unenforceable as to one or more of the parties
hereto, all other provisions nevertheless shall remain effective and binding on
the parties hereto.

10. References. All references in any of the Loan Documents to the "Credit
Agreement" shall mean the Credit Agreement, as amended hereby.

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11. Successors and Assigns. This Agreement shall be binding upon and inure to
the benefit of the Parent, the Borrower, the Agent and each of the Guarantors
and Lenders, and their respective successors, assigns and legal representatives;
provided, however, that neither the Parent, the Borrower nor any Guarantor,
without the prior consent of the Required Lenders, may assign any rights,
powers, duties or obligations hereunder.

12. Expenses. The Parent and the Borrower agree to pay to the Agent all
reasonable out-of-pocket expenses of the Agent (including the fees and expenses
of counsel to the Agent) incurred or arising in connection with the negotiation
and preparation of this Agreement.

[Signature pages follow.]

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IN WITNESS WHEREOF, the parties hereto have caused this instrument to be made,
executed and delivered by their duly authorized officers as of the day and year
first above written.

 
BORROWER:
       
COVENANT ASSET MANAGEMENT, INC., a
Nevada corporation
             
By:
/s/ Joey Hogan  
Name:
Joey Hogan  
Title:
EVP/CFO              
PARENT:
       
COVENANT TRANSPORT, INC., a Nevada corporation
             
By:
/s/ Joey Hogan  
Name:
Joey Hogan  
Title:
EVP/CFO

Signature Page

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GUARANTORS:
       
COVENANT TRANSPORT, INC., 
a Tennessee corporation
             
By:
/s/ Joey Hogan  
Name:
Joey Hogan   
Title:
EVP/CFO               
HAROLD IVES TRUCKING CO.,
an Arkansas corporation
             
By:
/s/ Joey Hogan   
Name:
Joey Hogan   
Title:
EVP/CFO         
SOUTHERN REFRIGERATED TRANSPORT,
INC.,
an Arkansas corporation
             
By:
/s/ Joey Hogan   
Name:
Joey Hogan   
Title:
EVP/CFO             
COVENANT.COM, INC.,
a Nevada corporation
             
By:
/s/ Joey Hogan  
Name:
Joey Hogan   
Title:
EVP/CFO             
CIP, INC.,
a Nevada corporation
             
By:
/s/ Joey Hogan   
Name:
Joey Hogan   
Title:
EVP/CFO 

Signature Page

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AGENT:
       
BANK OF AMERICA, N.A., as Agent
             
By:
/s/ Ronaldo Naval   
Name:
Ronaldo Naval  
Title:
Vice President

Signature Page

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LENDERS: 
       
BANK OF AMERICA, N.A.
             
By:
/s/ Andrew Bunton  
Name:
Andrew Bunton  
Title:
Vice President

Signature Page

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NATIONAL CITY BANK OF KENTUCKY
             
By:
/s/ Kevin L. Anderson  
Name:
Kevin L. Anderson  
Title:
Senior Vice President

Signature Page

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BRANCH BANKING AND TRUST COMPANY
             
By:
/s/ Jim Valvilides  
Name:
Jim Valvilides   
Title:
 

Signature Page

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FIRST TENNESSEE BANK NATIONAL
ASSOCIATION
             
By:
/s/ Robert T. Lusk  
Name:
Robert T. Lusk  
Title:
Vice President

Signature Page

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AMSOUTH BANK
             
By:
/s/ Walter Robinson  
Name:
Walter Robinson  
Title:
VP

Signature Page

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BNP PARIBAS
             
By:
/s/ Mike Shryock   
Name:
Mike Shryock   
Title:
Managing Director        
By:
/s/ Aurora L. Abella   
Name:
Aurora L. Abella   
Title:
Vice President

Signature Page

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SUNTRUST BANK
             
By:
/s/ William H. Crawford  
Name:
William H. Crawford  
Title:
Director

 
 
Signature Page

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