EXHIBIT 10.13

AMENDMENT NO. 1

TO

REVOLVING CREDIT AGREEMENT

dated as of December 1, 2005

among

WATSCO, INC.,

as Borrower,

THE LENDERS FROM TIME TO TIME PARTY HERETO,

SUNTRUST BANK,

as Administrative Agent,

BANK OF AMERICA, N.A.,

as Syndication Agent,

and

MIZUHO CORPORATE BANK, LTD.,

as Documentation Agent

SUNTRUST ROBINSON HUMPHREY CAPITAL MARKETS,

A DIVISION OF SUNTRUST CAPITAL MARKETS, INC.

as Lead Arranger and Book Manager

--------------------------------------------------------------------------------

AMENDMENT NO. 1

TO

REVOLVING CREDIT AGREEMENT

THIS AMENDMENT NO. 1 TO REVOLVING CREDIT AGREEMENT (this “Amendment”) is made
and entered into as of December 1, 2005, by and among WATSCO, INC., a Florida
corporation (the “Borrower”), the several banks and other financial institutions
from time to time party hereto (the “Lenders”), and SUNTRUST BANK, in its
capacity as Administrative Agent for the Lenders (the “Administrative Agent”).

W I T N E S S E T H:

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to
that certain Revolving Credit Agreement, dated as of December 10, 2004 (the
“Existing Credit Agreement”), pursuant to which the Lenders have agreed to
establish a $100,000,000 senior revolving credit facility with a $15,000,000
swingline and a $10,000,000 letter of credit sub-facility thereunder for the
Borrower, all upon the terms and subject to the conditions specified in the
Existing Credit Agreement; and

WHEREAS, upon request of the Borrower, the Lenders and the Administrative Agent
have agreed to increase the letter of credit sub-facility to $25,000,000 and, in
connection therewith, to modify and amend the Existing Credit Agreement as set
forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements herein contained, the Borrower, the Lenders and the Administrative
Agent agree as follows:

ARTICLE I

DEFINITIONS

Section 1.1 Certain Definitions. Unless otherwise defined herein or the context
otherwise requires, the following terms as used in this Amendment, including the
preamble and recitals, have the meanings set forth below:

“Amended Credit Agreement” shall mean the Existing Credit Agreement, as amended
hereby.

“Amendment No. 1 Effective Date” shall have the meaning assigned to such term in
Article III.

Section 1.2 Other Definitions. Unless otherwise defined herein, capitalized
terms used herein and not defined herein shall have the meanings assigned to
such terms in the Existing Credit Agreement.

--------------------------------------------------------------------------------

ARTICLE II

AMENDMENTS TO EXISTING AGREEMENT

Effective as of the Amendment No. 1 Effective Date, the Existing Credit
Agreement is hereby amended in accordance with this Article II as follows:

Section 2.1 Amendment to Section 1.1. Section 1.1 – Definitions under “ARTICLE I
– DEFINITIONS; CONSTRUCTION” of the Existing Credit Agreement is hereby amended
by deleting the definition of “LC Commitment” in its entirety and inserting in
lieu thereof the following new definition:

“LC Commitment” shall mean that portion of the Aggregate Revolving Commitments
that may be used by the Borrower for the issuance of Letters of Credit in an
aggregate face amount not to exceed $25,000,000.

Section 2.2 Addition of Subsidiary. Borrower, in accordance with Section 5.10 of
the Existing Credit Agreement, has notified the Administrative Agent of the
formation of a new Subsidiary, Tradewinds Flight Services LLC, a Delaware
limited liability company (“New Subsidiary”) and, as required by such Section,
New Subsidiary has become a Subsidiary Loan Party by executing and delivering to
Administrative Agent agreements in the form of Annex I to Exhibit D and Annex I
to Exhibit E of the Existing Credit Agreement, and in addition to executing this
Amendment, New Subsidiary has delivered, or will deliver, to Administrative
Agent such similar documents applicable to such New Subsidiary required under
Section 3.1(b)(iv), (v), (vi), (viii), (x) and (xi) as may be requested by the
Administrative Agent.

ARTICLE III

CONDITIONS TO EFFECTIVENESS

This Amendment shall be and become effective as of the date hereof (the
“Amendment No. 1 Effective Date”) when all of the conditions set forth in this
Article IV shall have been satisfied, as reasonably determined by the
Administrative Agent, and thereafter, this Amendment shall be known, and may be
referred to, as “Amendment No. 1”:

Section 3.1 Approval by Required Lenders. The Required Lenders shall have
approved the modifications and amendments set forth in this Amendment, such
approval to be evidenced by such Required Lenders’ execution of counterparts of
this Amendment as set forth in Section 3.2.

Section 3.2 Execution of Counterparts. The Administrative Agent shall have
received (including by telecopy) counterparts of this Amendment that shall have
been duly executed on behalf of the Borrower, the Administrative Agent and the
Required Lenders.

Section 3.3 Legal Details, Etc. All documents executed or submitted pursuant
hereto shall be reasonably satisfactory in form and substance to the
Administrative Agent and its counsel prior to or by the time of closing. Prior
to or by the time of closing, the Administrative Agent and its counsel shall
have received all information, legal opinions and other documents, and such
counterpart originals or such certified or other copies of such originals as the
Administrative Agent or its counsel may reasonably request, and all legal
matters incident to the transactions contemplated by this Amendment shall be
reasonably satisfactory to the Administrative Agent and its counsel.

Section 3.4 Payment of Other Fees and Expenses. The Borrower shall have paid all
out-of-pocket costs and expenses of the Administrative Agent, including the
reasonable fees, charges and disbursements of counsel for the Administrative
Agent, in connection with the preparation, execution and delivery of this
Amendment.

ARTICLE IV

MISCELLANEOUS

Section 4.1 Representations and Warranties. The Borrower hereby represents and
warrants to the Administrative Agent and the Lenders that, after giving effect
to this Amendment, (a) no Default or Event of Default exists under the Existing
Credit Agreement or any of the other Loan Documents, (b) all representations and
warranties of each Loan Party set forth in the Loan Documents are true and
correct in all material respects on and as of the date hereof (except for those
which expressly relate to an earlier date), (c) since the date of the most
recent financial statements of the Borrower described in Section 5.1(a) or
(b) of the Existing Credit Agreement, there has been no change which has had or
could reasonably be expected to have a Material Adverse Effect, and (d) the Loan
Documents are legal, valid and binding obligations of the respective Loan
Parties and are enforceable by the Administrative Agent and the Lenders, as
applicable, against such Loan Parties in accordance with their respective terms.

--------------------------------------------------------------------------------

Section 4.2 Cross References. References in this Amendment to any Section are,
unless otherwise specified, to such Section of this Amendment.

Section 4.3 Instrument Pursuant to Existing Credit Agreement. This Amendment is
a document executed pursuant to the Existing Credit Agreement and shall (unless
otherwise expressly indicated therein) be construed, administered and applied in
accordance with the terms and provisions of the Existing Credit Agreement.

Section 4.4 Loan Documents. The Borrower hereby confirms and agrees that the
Loan Documents are, and shall continue to be, in full force and effect and
hereby ratifies and approves in all respects its obligations thereunder, except
that, upon the effectiveness of, and on and after the date of this Amendment,
all references in each Loan Document to the “Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Existing Credit Agreement
shall mean the Amended Credit Agreement.

Section 4.5 Counterparts, Effectiveness, Etc. This Amendment may be executed by
the parties hereto in several counterparts, each of which shall be deemed to be
an original and all of which shall constitute together but one and the same
agreement. The parties may execute facsimile copies of this Amendment and the
facsimile signature of any such party shall be deemed an original and fully
binding on said party; provided, any party executing this Amendment by facsimile
signature agrees to promptly provide ten (10) original executed copies of this
Amendment to Administrative Agent.

Section 4.6 Governing Law; Etc. This Amendment shall be governed by and
construed in accordance with the applicable terms and provisions of Section 10.5
- Governing Law; Jurisdiction; Consent to Service of Process of “ARTICLE X –
MISCELLANEOUS” of the Existing Credit Agreement, which terms and provisions are
incorporated herein by reference.

Section 4.7 No Other Modifications. Except as hereby amended, no other term,
condition or provision of the Existing Credit Agreement shall be deemed modified
or amended, and this Amendment shall not be considered a novation.

Section 4.8 Successors and Assigns. This Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.

[Balance of page intentionally left blank]

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
(under seal in the case of the Borrower) by their respective duly authorized
officers as of the day and year first above written.

 

WATSCO, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President and Chief Financial Officer
[SEAL] SUNTRUST BANK, as Administrative Agent, as Issuing Bank, as Swingline
Lender and as a Lender By:  

/s/ Ellyn S. Rivkees

Name:   Ellyn S. Rivkees Title:   Managing Director Revolving Commitment:
$22,500,000 Swingline Commitment: $15,000,000

--------------------------------------------------------------------------------

BANK OF AMERICA, N.A., as a Lender By:  

/s/ Brian K. Keeney

Name:   Brian K. Keeney Title:   Senior Vice President Revolving Commitment:
$17,500,000

--------------------------------------------------------------------------------

MIZUHO CORPORATE BANK, LTD.,

as a Lender

By:  

/s/ Robert Gallagher

Name:   Robert Gallagher Title:   Senior Vice President Revolving Commitment:
$17,500,000

--------------------------------------------------------------------------------

WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender By:  

/s/ J. Andrew Phelps

Name:   J. Andrew Phelps Title:   Vice President Revolving Commitment:
$12,500,000

--------------------------------------------------------------------------------

COMERICA BANK, as a Lender By:  

/s/ Gerald R. Finney, Jr.

Name:   Gerald R. Finney, Jr. Title:   Vice President Revolving Commitment:
$10,000,000

--------------------------------------------------------------------------------

THE NORTHERN TRUST COMPANY,

as a Lender

By:  

/s/ David Sullivan

Name:   David Sullivan Title:   Vice President Revolving Commitment: $10,000,000

--------------------------------------------------------------------------------

REGIONS BANK, as a Lender By:  

/s/ Anthony D. Nigro

Name:   Anthony D. Nigro Title:   Senior Vice President Revolving Commitment:
$10,000,000

--------------------------------------------------------------------------------

JOINDER OF SUBSIDIARY GUARANTORS

The undersigned, each being a Guarantor under that certain Subsidiary Guarantee
Agreement, dated as of December 10, 2004 (the “Guarantee”), in favor of the
Administrative Agent, on behalf of the Lenders, hereby acknowledge and consent
to, and agree to be bound by, the foregoing modifications and amendments to the
Existing Credit Agreement as set forth in this Amendment and to each of the
other terms and conditions thereof, and agree that the Guarantee shall continue
in full force and effect and binding upon and enforceable against the
undersigned in accordance with its terms from and after the date hereof. The
undersigned hereby further acknowledge and agree that their obligations under
the Guarantee are not subject to any off-set, defense or counterclaim whatsoever
and hereby waive any and all defenses of any nature whatsoever, legal, equitable
or otherwise, which the undersigned may now have with respect to their
obligations under said Guarantee.

Dated as of the 1st day of December, 2005.

 

ACDOCTOR.COM, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President AIR SUPPLY DISTRIBUTING LLC By:
 

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President AIR SYSTEMS DISTRIBUTORS LLC By:
 

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President ATLANTIC SERVICE & SUPPLY LLC
By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President

--------------------------------------------------------------------------------

BAKER DISTRIBUTING COMPANY LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President COASTLINE DISTRIBUTION LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President COOL HOLDINGS LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Treasurer COMFORT SUPPLY, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President COMFORT PRODUCTS DISTRIBUTING
LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President GEMAIRE DISTRIBUTORS LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President

--------------------------------------------------------------------------------

HBA DISTRIBUTORS LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President HEAT INCORPORATED LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President HEATING & COOLING SUPPLY LLC By:
 

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President HOMANS ASSOCIATES LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President THREE STATES SUPPLY COMPANY LLC
By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President WSO DISTRIBUTORS, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President

--------------------------------------------------------------------------------

DUNHILL STAFFING SYSTEMS, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Treasurer DUNHILL PERSONNEL SYSTEM OF NEW
JERSEY, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Treasurer DUNHILL TEMPORARY SYSTEMS, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Treasurer WATSCO HOLDINGS, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President GEMAIRE CARIBE, INC. By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President THE FLORIDA AD COMPANY By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President

--------------------------------------------------------------------------------

ATLANTIC JET CHARTER, LLC By: Watsco Holdings, Inc., its sole member By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President TCS DISTRIBUTORS LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President TRADEWINDS DISTRIBUTING COMPANY,
LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President WATSCO INVESTMENTS LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President EAST COAST METAL DISTRIBUTORS
LLC By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President TRADEWINDS FLIGHT SERVICES LLC
By: Watsco Holdings, Inc., its sole member By:  

/s/ Ana M. Menendez

Name:   Ana M. Menendez Title:   Vice President