Exhibit 10.1

Execution Copy

[g199071kci001.gif]THIRD AMENDMENT AND CONSENT TO CREDIT AGREEMENT

THIS THIRD AMENDMENT AND CONSENT (this “Amendment”), dated as of September 14,
2006, is entered into by and among TEXAS ROADHOUSE, INC., as Borrower (the
“Borrower”), the lenders from time to time party to the Credit Agreement
referred to below (the “Lenders”) and BANK OF AMERICA, N.A., as Administrative
Agent (the “Administrative Agent”).

Statement of Purpose

Pursuant to that certain Credit Agreement dated as of October 8, 2004 (as
amended, restated, supplemented or otherwise modified, the “Credit Agreement”)
by and among the Borrower, the Lenders and the Administrative Agent, the Lenders
have agreed to make, and have made, certain extensions of credit to the
Borrower.

The Borrower has requested that the Lenders amend, and make certain consents
under, the Credit Agreement as provided herein.  Subject to the terms and
conditions set forth herein, the Lenders are willing to consent to such
amendments and consents.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by the parties hereto, such parties hereby
agree as follows:

Section 1.              Definitions.  All capitalized terms used and not defined
herein shall have the meanings assigned thereto in the Credit Agreement.

Section 2.              Amendment.  Section 7.16 of the Credit Agreement
(“Capital Expenditures”) is hereby amended by deleting such Section in its
entirety and hereby substituting the following new Section in lieu thereof:

“7.16      Capital Expenditures.         Make or become legally obligated to
make, during any period set forth below, any Capital Expenditures (other than
Capital Expenditures in the form of Permitted Acquisitions permitted pursuant to
Section 7.02(g)) in respect of the purchase or other acquisition of any fixed or
Capital Assets (excluding normal replacements and maintenance which are properly
charged to current operations), except for Capital Expenditures in the ordinary
course of business not exceeding in the aggregate for the Borrower and its
Subsidiaries the amounts set forth below opposite such period:

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Fiscal Year Time Periods

 

 

 

Maximum
Amount of Capital
Expenditures

 

December 31, 2003 through December 28, 2004

 

$

55,000,000

 

December 29, 2004 through December 27, 2005

 

$

70,000,000

 

December 28, 2005 through December 26, 2006

 

$

100,000,000

 

December 27, 2006 through December 25, 2007

 

$

100,000,000

 

December 26, 2007 through December 30, 2008

 

$

110,000,000

 

December 31, 2008 through December 29, 2009

 

$

120,000,000

”

 

Section 3.              Consent.  The Administrative Agent and the Required
Lenders hereby consent to the issuance by the L/C Issuer of a Letter of Credit
to Sandy City Corporation, as beneficiary, in the approximate amount of
$80,604.36, in connection with the Texas Roadhouse location in Sandy, Utah, with
an expiry date of three years from the date of issuance.

Section 4.              Effectiveness.  This Amendment shall become effective
when, and only when, the Administrative Agent shall have received satisfactory
evidence that this Amendment has been duly executed and delivered by the
Borrower, the Administrative Agent and the Required Lenders, in form and
substance satisfactory to the Administrative Agent.

Section 5.              Limited Effect.  Except as expressly provided in this
Amendment, the Credit Agreement and each other Loan Document shall continue to
be, and shall remain, in full force and effect and this Amendment shall not be
deemed or otherwise construed (a) to be a waiver of, or consent to or a
modification or amendment of, any other term or condition of the Credit
Agreement or any other Loan Document, (b) to prejudice any other right or
remedies that the Administrative Agent or the Lenders, or any of them, may now
have or may have in the future under or in connection with the Credit Agreement
or the Loan Documents, as such documents may be amended, restated or otherwise
modified from time to time, or (c) to be a commitment or any other undertaking
or expression of any willingness to engage in any further discussion with the
Borrower or any other person, firm or corporation with respect to any waiver,
amendment, modification or any other change to the Credit Agreement or the Loan
Documents or any rights or remedies arising in favor of the Lenders or the
Administrative Agent, or any of them, under or with respect to any such
documents.  References in the Credit Agreement (including references to such
Credit Agreement as amended hereby) to “this Agreement” (and indirect references
such as “hereunder”, “hereby”, “herein”, and “hereof”) and in any Loan Document
to the Credit Agreement shall be deemed to be references to the Credit Agreement
as amended hereby.

Section 6.              Representations and Warranties/No Default.  By its
execution hereof, and after giving effect to this Amendment, the Borrower hereby
certifies that:

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(a)           each of the representations and warranties set forth in the Credit
Agreement and the other Loan Documents is true and correct as of the date hereof
as if fully set forth herein (other than representations and warranties which
speak as of a specific date pursuant to the Credit Agreement, which
representations and warranties shall have been true and correct as of such
specific dates) and that as of the date hereof and after giving effect to this
Amendment, no Default or Event of Default has occurred and is continuing, and

(b)           the execution, delivery and performance of this Amendment have
been authorized by all requisite corporate action on the part of the Borrower.

Section 7.              Expenses.  The Borrower shall pay all reasonable
out-of-pocket costs and expenses of the Administrative Agent in connection with
the preparation, execution and delivery of this Amendment, including, without
limitation, the reasonable fees and disbursements of counsel for the
Administrative Agent (including, without limitation, all fees and expenses of
Kennedy Covington Lobdell & Hickman, L.L.P., as legal counsel to the
Administrative Agent).

Section 8.              Governing Law.  This Amendment shall be governed by and
construed in accordance with the laws of the State of North Carolina.

Section 9.              Counterparts.  This Amendment may be executed in
separate counterparts, each of which when executed and delivered is an original
but all of which taken together constitute one and the same instrument.

Section 10.            Fax Transmission.  A facsimile, telecopy or other
reproduction of this Amendment may be executed by one or more parties hereto,
and an executed copy of this Amendment may be delivered by one or more parties
hereto by facsimile or similar instantaneous electronic transmission device
pursuant to which the signature of or on behalf of such party can be seen, and
such execution and delivery shall be considered valid, binding and effective for
all purposes.  At the request of any party hereto, all parties hereto agree to
execute an original of this Amendment as well as any facsimile, telecopy or
other reproduction hereof.

[Signature Pages Follow]

 

3

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
above written.

TEXAS ROADHOUSE, INC.,

 

as Borrower

 

 

 

 

 

 

 

By:

/s/ Scott M. Colosi

 

Name:

Scott M. Colosi

 

Title:

Chief Financial Officer

 

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BANK OF AMERICA, N.A.,

 

as Administrative Agent

 

 

 

 

 

 

 

By:

/s/ Anne M. Zeschke

 

Name:

Anne M. Zeschke

 

Title:

Assistant Vice President

 

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BANK OF AMERICA, N.A.,

 

as a Lender, L/C Issuer and Swing Line Lender

 

 

 

 

 

 

 

By:

/s/ Angelo Maragos

 

Name:

Angelo Maragos

 

Title:

Vice President

 

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NATIONAL CITY BANK,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Thomas P. Crockett

 

Name:

Thomas P. Crockett

 

Title:

Senior Vice President

 

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JPMORGAN CHASE BANK, N.A.,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Laura Dausman

 

Name:

Laura Dausman

 

Title:

Vice President

 

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U.S. BANK NATIONAL ASSOCIATION,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ David A. Wombwell

 

Name:

David A. Wombwell

 

Title:

Senior Vice President

 

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PNC BANK, N.A.,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Julie S. Springer

 

Name:

Julie S. Springer

 

Title:

Vice President

 

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FIFTH THIRD BANK, KENTUCKY, INC.,

 

as a Lender

 

 

 

 

 

 

 

By:

/s/ Richard G. Whipple

 

Name:

Richard G. Whipple

 

Title:

Vice President

 

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WACHOVIA BANK, NATIONAL
ASSOCIATION, as a Lender

 

 

 

 

 

 

 

By:

/s/ Mark S. Supple

 

Name:

Mark S. Supple

 

Title:

Vice President

 

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ROYAL BANK OF CANADA, as a Lender

 

 

 

 

 

 

 

By:

/s/ Gordan MacArthur

 

Name:

Gordan MacArthur

 

Title:

Authorized Signatory

 

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OLD NATIONAL BANK, as a Lender

 

 

 

 

 

 

 

By:

/s/ William J. Otten

 

Name:

William J. Otten

 

Title:

Sr. Vice President

 

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