Exhibit 10.1

 
SIXTH AMENDMENT TO REVOLVING CREDIT AND
LETTER OF CREDIT LOAN AGREEMENT

THIS SIXTH AMENDMENT TO REVOLVING CREDIT AND LETTER OF CREDIT LOAN AGREEMENT
(this “Amendment”) is entered into February 13, 2007, by and between, U.S.
XPRESS ENTERPRISES, INC., a Nevada corporation (the “Borrower”), and SUNTRUST
BANK, BANK OF AMERICA, N.A., LASALLE BANK NATIONAL ASSOCIATION, BRANCH BANKING
AND TRUST COMPANY, NATIONAL CITY BANK, REGIONS FINANCIAL CORPORATION
(collectively the “Lenders”), and SUNTRUST BANK, in its capacity as
Administrative Agent for the Lenders (the “Administrative Agent”).

RECITALS:

A. The Borrower, Administrative Agent and the Lenders previously entered into
that certain Revolving Credit and Letter of Credit Loan Agreement dated October
14, 2004 (as previously amended and as it may be amended from time to time, the
“Credit Agreement”).

B. The Borrower, Administrative Agent and the Lenders desire to further amend
the Credit Agreement to clarify that the calculation of Consolidated Net Worth
under Section 6.4 of the Credit Agreement shall be reduced by certain stock
redemptions allowable under Section 7.5 of the Credit Agreement.

C. Capitalized terms not otherwise defined herein shall have the meanings
ascribed to such terms in the Credit Agreement.

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, the
Borrower, Administrative Agent and the Lenders executing this Amendment agree as
follows:

1. Amendment to Section 6.4. Section 6.4 of the Credit Agreement concerning
“Consolidated Tangible Net Worth” is amended by adding the following provision
at the end thereof:

Notwithstanding any provision of this Section to the contrary, the required
Consolidated Tangible Net Worth shall be reduced by the allowable stock
redemptions made under Section 7.5 since February 27, 2006.

2. Conditions. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent:

(a) The Lenders shall have received this Amendment duly executed by the Borrower
and the Guarantors;

(b) The representations and warranties in the Loan Documents, as amended hereby,
shall be true and correct in all material respects as of the date hereof as if
made on the date hereof, except for such representations and warranties limited
by their terms to a specific date; and

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(c) No Default shall exist.

3. Payment of Expenses. The Borrower agrees to pay or reimburse the
Administrative Agent for all its reasonable out-of-pocket costs and expenses
incurred in connection with the preparation and execution of this Amendment.

4. Counterparts. This Amendment may be executed by one or more of the parties
hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.

5. Severability; Headings. Any provision of this Amendment which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability, without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. The section and
subsection headings used in this Amendment are for convenience of reference only
and are not to affect the construction hereof or to be taken into consideration
in the interpretation hereof.

6. Continuing Effect Upon Other Documents. This Amendment shall not constitute
an amendment or waiver of any other provision of the Credit Agreement not
expressly referred to herein and, except to the extent that the Credit Agreement
has been amended hereby, shall not be construed as a waiver or consent to any
further or future action on the part of the Borrower that would require a waiver
or consent of the Lenders or the Administrative Agent. Except as expressly
amended, modified or supplemented hereby, the provisions of the Credit Agreement
are and shall remain in full force and effect.

7. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

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ENTERED INTO as of the date first above written.
 

   
BORROWER:
          U.S. XPRESS ENTERPRISES, INC.      
 
By:
/s/ Ray M. Harlin
        Title:
Assistant Secretary

 
 

   
LENDERS:
     
 
  SUNTRUST BANK     as Administrative Agent, as an Issuing Bank,     as
Swingline Lender and as a Lender      
 
By:
/s/ William H. Crawford
        Title:
Director

[additional signature lines continued on following pages]

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  BANK OF AMERICA, N.A., as Issuing Bank     for Existing Letters of Credit and
as a Lender      
 
By:
/s/ Alan R. Buck
        Title:
Vice President

 

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  LASALLE BANK NATIONAL ASSOCIATION      
 
By:
/s/ Nick T. Weaver
        Title:
Senior Vice President

 

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  BRANCH BANKING AND TRUST COMPANY      
 
By:
/s/ R. Andrew Beam
        Title:
Senior Vice President

 

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  NATIONAL CITY BANK      
 
By:
/s/ John H. Ankerman
        Title:
Senior Vice President

 

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  REGIONS FINANCIAL CORPORATION      
 
By:
/s/ Elaine B. Passman
        Title:
Vice President

 

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Guarantor Consent
Each of the undersigned Guarantors: (i) consent and agree to this Amendment and
(ii) agree that the Loan Documents to which it is a party shall remain in full
force and effect and shall continue to be the legal, valid and binding
obligation of such Guarantor enforceable against it in accordance with their
respective terms.
 
 

 
GUARANTORS:
     
U.S. Xpress, Inc.
 
U.S. Xpress Leasing, Inc.
 
Xpress Air, Inc.
 
Xpress Company Store, Inc.
 
Xpress Global Systems, Inc.
 
Xpress Colorado, Inc.
 
Cargo Movement Corp.
 
Xpress Waiting, Inc.
 
Colton Xpress, LLC
 
Associated Developments, LLC
 
Total Transportation Holdings, Inc.
 
Total Logistics, Inc.
 
Transportation Investments, Inc.
 
Total Transportation of Mississippi LLC,
 
Transportation Assets Leasing, Inc.
 
TAL Real Estate, LLC
 
TAL Power Equipment #1, LLC
 
TAL Van #1, LLC
 
TAL Furniture and Equipment, LLC
 
TAL Marine, Inc.
 
TAL Aviation, LLC
 
TAL Power Equipment #2, LLC
 
ATS Acquisition Holding Co.
 
Arnold Transportation Services, Inc.

 

     
 
By:
/s/ Ray M. Harlin
        Name:  
Ray M. Harlin
    Authorized Officer of above Guarantors

 

 

   
GUARANTOR:
          Xpress Nebraska, Inc.      
 
By:
/s/Al Hingst
        Name:
Al Hingst, Secretary

 

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GUARANTOR:
          Xpress Holdings, Inc.      
 
By:
/s/Jane Killmeyer
        Name:
Jane Killmeyer, Secretary