Document:

exv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED

REVOLVING CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (this
“Amendment”), is made and entered into as of
January 18, 2007, by and among SWIFT TRANSPORTATION
CO., INC., an Arizona corporation (the “Borrower”), the several banks and other financial
institutions from time to time party hereto (collectively, 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 a certain
Second Amended and Restated Revolving Credit Agreement, dated as of December 16, 2005 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized
terms used herein and not otherwise defined shall have the meanings assigned to such terms in the
Credit Agreement), pursuant to which the Lenders have made certain financial accommodations
available to the Borrower;

     WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent amend
certain provisions of the Credit Agreement, and subject to the terms and conditions hereof, the
Lenders are willing to do so;

     NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of
which are acknowledged, the Borrower, the Lenders and the Administrative Agent agree as follows:

     1. Amendments.

     Section 1.1 of the Credit Agreement is hereby amended by replacing the definition of “Change
of Control” in its entirety with the following definition:

     “Change of Control” shall mean the occurrence of one or more of the following
events: (i) any sale, lease, exchange or other transfer (in a single transaction or
a series of related transactions) of all or substantially all of the assets of
Holdings to any Person or “group” (within the meaning of the Securities Exchange
Act of 1934 and the rules of the Securities and Exchange Commission thereunder in
effect on the date hereof), (ii) (A) any Person (other than Jerry Moyes, his lineal
descendents, any trust established by Jerry Moyes and/or any Person who would exceed
the following ownership threshold due to attribution of “beneficial ownership” among
members of a “group” that includes Jerry Moyes, his lineal descendents, any trust
established by Jerry Moyes) acquires ownership, directly or indirectly, beneficially
or of record, of 30% or more of the outstanding shares of the voting stock of
Holdings or (B) any Person owns, directly or indirectly, beneficially or of record,
50% or more of the

 

 

outstanding shares of the voting stock of Holdings, or (iii) occupation of a
majority of the seats (other than vacant seats) on the board of directors of
Holdings by Persons who were neither (x) nominated by the current board of directors
or (y) appointed by directors so nominated.

     2. Conditions to Effectiveness of this Amendment. Notwithstanding any other provision
of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is
understood and agreed that this Amendment shall not become effective, and the Borrower shall have
no rights under this Amendment, until the Administrative Agent shall have received (i) such fees as
the Borrower has previously agreed to pay the Administrative Agent or any of its affiliates in
connection with this Amendment, (ii) reimbursement or payment of its costs and expenses incurred in
connection with this Amendment or the Credit Agreement (including reasonable fees, charges and
disbursements of King & Spalding LLP, counsel to the Administrative Agent), and (iii) executed
counterparts to this Amendment from the Borrower, each of the Guarantors and the Lenders;

     3. Representations and Warranties. To induce the Lenders and the Administrative Agent
to enter into this Amendment, each Loan Party hereby represents and warrants to the Lenders and the
Administrative Agent:

     (a) The Borrower and each of its Subsidiaries (i) is duly organized, validly existing and in
good standing as a corporation, partnership or limited liability company under the laws of the
jurisdiction of its organization, (ii) has all requisite power and authority to carry on its
business as now conducted, and (iii) is duly qualified to do business, and is in good standing, in
each jurisdiction where such qualification is required, except where a failure to be so qualified
would not reasonably be expected to result in a Material Adverse Effect;

     (b) The execution, delivery and performance by each Loan Party of the Loan Documents to
which it is a party are within such Loan Party’s organizational powers and have been duly
authorized by all necessary organizational, and if required, shareholder, partner or member,
action;

     (c) The execution, delivery and performance by the Borrower of this Agreement, and by each
Loan Party of the other Loan Documents to which it is a party (i) do not require any consent or
approval of, registration or filing with, or any action by, any Governmental Authority, except
those as have been obtained or made and are in full force and effect, (ii) will not violate any
Requirements of Law applicable to Borrower or any of its Subsidiaries or any judgment, order or
ruling of any Governmental Authority, and (iii) will not give rise to a right thereunder to require
any payment to be made by the Borrower or any of its Subsidiaries;

     (d) This Amendment has been duly executed and delivered for the benefit of or on behalf of
each Loan Party and constitutes a legal, valid and binding obligation of each Loan Party,
enforceable against such Loan Party in accordance with its terms except as the enforceability
hereof may be limited by bankruptcy, insolvency, reorganization, moratorium and other laws
affecting creditors’ rights and remedies in general; and

 

 

     (e) After giving effect to this Amendment, the representations and warranties contained in the
Credit Agreement and the other Loan Documents are true and correct in all material respects, and no
Default or Event of Default has occurred and is continuing as of the date hereof.

     4. Reaffirmations and Acknowledgments. Each Guarantor consents to the execution and
delivery by the Borrower of this Amendment and jointly and severally ratify and confirm the terms
of the Guaranty Agreement with respect to the indebtedness now or hereafter outstanding under the
Credit Agreement as amended hereby and all promissory notes issued thereunder. Each Guarantor
acknowledges that, notwithstanding anything to the contrary contained herein or in any other
document evidencing any indebtedness of the Borrower to the Lenders or any other obligation of the
Borrower, or any actions now or hereafter taken by the Lenders with respect to any obligation of
the Borrower, the Guaranty Agreement (i) is and shall continue to be a primary obligation of the
Guarantors, (ii) is and shall continue to be an absolute, unconditional, joint and several,
continuing and irrevocable guaranty of payment, and (iii) is and shall continue to be in full force
and effect in accordance with its terms. Nothing contained herein to the contrary shall release,
discharge, modify, change or affect the original liability of the Guarantors under the Guaranty
Agreement.

     5. Effect of Amendment. Except as set forth expressly herein, all terms of the Credit
Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and
effect and shall constitute the legal, valid, binding and enforceable obligations of the Borrower
to the Lenders and the Administrative Agent. The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power
or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of any provision of
the Credit Agreement. This Amendment shall constitute a Loan Document for all purposes of the
Credit Agreement.

     6. Governing Law. This Amendment shall be governed by, and construed in accordance
with, the internal laws of the State of New York and all applicable federal laws of the United
States of America.

     7. No Novation. This Amendment is not intended by the parties to be, and shall not be
construed to be, a novation of the Credit Agreement or an accord and satisfaction in regard
thereto.

     8. Costs and Expenses. The Borrower agrees to pay on demand all 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 out-of-pocket expenses of outside
counsel for the Administrative Agent with respect thereto.

     9. Counterparts. This Amendment may be executed by one or more of the parties hereto
in any number of separate counterparts, each of which shall be deemed an original and all of which,
taken together, shall be deemed to constitute one and the same instrument. Delivery of

 

 

an executed counterpart of this Amendment by facsimile transmission or by electronic mail in
pdf form shall be as effective as delivery of a manually executed counterpart hereof.

     10. Binding Nature. This Amendment shall be binding upon and inure to the benefit of
the parties hereto, their respective successors, successors-in-titles, and assigns.

     11. Entire Understanding. This Amendment sets forth the entire understanding of the
parties with respect to the matters set forth herein, and shall supersede any prior negotiations or
agreements, whether written or oral, with respect thereto.

[Signature Pages To Follow]

 

 

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

	 	 	 	 	 
	 	BORROWER:

SWIFT TRANSPORTATION CO., INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	HOLDINGS:

SWIFT TRANSPORTATION CO., INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[SIGNATURE PAGE TO FIRST AMENDMENT — SWIFT TRANSPORTATION]

 

 

	 	 	 	 	 
	 	LENDERS:

SUNTRUST BANK, individually and as
Administrative Agent

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	LASALLE BANK NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[SIGNATURE PAGE TO FIRST AMENDMENT — SWIFT TRANSPORTATION]

 

 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI, LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	BNP PARIBAS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	BRANCH BANKING AND TRUST COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	THE NORINCHUKIN BANK, NEW YORK BRANCH

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	UMB BANK ARIZONA, N.A.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[SIGNATURE PAGE TO FIRST AMENDMENT — SWIFT TRANSPORTATION]

 

 

	 	 	 	 	 
	 	BANK HAPOALIM B.M.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	CHINATRUST COMMERCIAL BANK, NEW YORK BRANCH

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[SIGNATURE PAGE TO FIRST AMENDMENT — SWIFT TRANSPORTATION]5.02

     

    

    

    

    Financial
      Advisory Agreement

    

    

    Jilin
      Dongsheng Weiye Science and Technology Co., Ltd

    

    and
      

    

    Warner
      Technology and Investment

    

     

    

    
      July
        20,
        2005

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    Party
      A:
      Jilin
      Dongsheng Weiye Science and Technology Co., Ltd.

    

    Party
      B:
      Warner Technology and Investment Corporation.

    

    In
      this
      Agreement, Party A and Party B are termed collectively as the "Parties" and
      each
      individually termed as the "Party".

    

    Whereas,      
      Jilin Dongsheng Weiye Science and Technology Co., Ltd is a private owned company
      registered in People’s Republic of China engaged in the manufacture and
      distribution personal care products.

    

    

    Whereas,      
      Warner Technology and Investment Corporation is a New Jersey registered
      corporation that focuses on financial consulting and provides technical support
      to Chinese privately owned company in going public in the US capital
      markets.

    

    NOW
      THEREFORE, the Parties hereby have reached the following agreement upon friendly
      consultations:

    

    

    Common
      stock distribution:

    

    The
      total
      authorized shares of the public entity will be 100 million shares with an
      initial structure of 15 million shares outstanding upon completion of Party
      B’s
      duties. 

    

    Based
      on
      the initial structure of 15 million shares outstanding, Party A will own
      approximately 80% of the shares outstanding. 

    

    Party
      B
      which includes both original shareholders of Shell Company and third party
      consultants company will own the remaining approximate 20% of the outstanding
      shares. 

    

    All
      parties not included in the shares owned by Party A will account for
      approximately 3% of the total authorized shares of 100 million shares based
      upon
      the 15 millions shares outstanding structure. Notice: as per request by Party
      A
      before signing LOI with the shell company, initial structure was changed to
      30
      millions, Party A still owns 80% of the shares outstanding. Party B and all
      related parties own 20% of the shares outstanding. 

    

    Issuance
      of shares or options to Party A officers, employees and related consultants
      will
      not exceed 10% of total issued shares in fiscal year.

    

    

    Party
      B Best Effort Responsibilities : 

    Where
      date T is defined as when two year fiscal year audits and due diligence is
      completed. 

    

    	1.  	
            T+3
              months: effect signing merger agreement between Party A and OTCBB
              company.

          

    	2.  	
            6
              to 9 months after OTCBB listing: assist Party A in applying for AMEX
              or
              NASDAQ listing contingent upon the meeting of listing requirements.
              

          

    	3.  	
            4
              to 6months after OTCBB listing: assist in private placement of $2 million
              dollars. 

          

    	4.  	
            6
              to 9months after listing on NASDAQ/AMEX: assist in secondary offering
              of
              $40 million dollars. 

          

    

    

    During
      the first phase (“merger phase”), Party B is responsible for:

    •
      introducing PCAOB qualified auditors.

    •
      introducing securities counsel. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    •
      introducing NASD/SPIC member investment banking firms.

    •
      assisting in the preparation of an English business plan based information
      provide by Party A.

    •
      introducing an OTCBB traded company to effect reverse merger
      transaction.

    •
      completing the reverse merger with OTCBB traded company after 3 month from
      the
      completion of the business plan, 2 year fiscal year GAAP audit, and due
      diligence. 

    •
      providing stock certificates to Party A as a result of the reverse merger.
      

    

    

    During
      the second phase (post merger phase), Party B is responsible for:

    •
      introducing Party A to investors.

    •
      assisting Party A in the preparation of private placement memoranda or
      prospectus. 

    •
      introducing Party A to market makers. 

    •
      assisting in the opening of bank accounts in the US.

    •
      assisting with timely filings with the SEC.

    •
      assisting with the obtaining of visas for Party A employees to enter the
      US.

    

    

    During
      the first phase (merger phase), Party A is responsible for:

    •
      certification of accurate and true financial results.

    •
      preparation of information as basis for business plan. 

    •
      obtaining legal documents and business permits.

    •
      preparing all required documents related to merger.

    •
      preparing related documents required by SEC.

    •
      managing company and keep high growth.

    •
pay
      all
      fees on time.

    

    

    During
      the second phase (post merger phase), Party A is responsible for:

    •
filing
      timely disclosures and reports with the SEC.

    •
      investor relations. 

    •
pay
      all
      fees on time.

    

    Fee
      schedule:

    

    Parties
      consent to the fee related to completing reverse merger on the OTCBB:
      $900,000USD (“the public listing fee”).

    

    The
      fee
      is a package fee including fees associated with 2 year fiscal year GAAP audit,
      financial consulting fee, investment banking fees, due diligence fees, and
      costs
      related to the reverse merger. 

    

    $100,000
      is to be paid within 1 week of signing of this agreement.

    

    $400,000
      is to be paid upon signing an engagement letter with a PCAOB approved auditor.
      

    

    $300,000
      is to be paid upon signing a letter of intent with an OTCBB traded company.
      

    

    $100,000
      is to be paid upon completion of Party B’s duties. 

    

    

    Financing

    

    Party
      B
      is to use best efforts to assist in the raising of $2 million upon completion
      of
      OTCBB listing. Party B will assist in the negotiating of commissions on Party
      A’s behalf. Commissions charged by the placement agent in the financing will
      be
      between 7% and 10%. Non allowable expenses will be at maximum 3%. Warrant
      coverage will be at maximum 10% of securities placed. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Party
      B
      is to use best efforts to assist in the raising of $40 million upon completion
      of AMEX/NASDAQ listing. Party B will assist in the negotiating of commissions
      on
      Party A’s behalf. Commissions charged by the placement agent in the financing
      will be between 6% and 8%. Non allowable expenses will be at maximum 3%. Warrant
      coverage will be at maximum 10% of securities placed. 

    

    Contigencies

    

    	·     
             	
            Party
              B guarantees the delivery of a clean shell meaning zero assets and
              zero
              liabilities to Party A.

          

    	·     
             	
            Party
              B should take the full responsibility for the merger. If Party B fails
              to
              fulfill the merger after receiving all related documents from Party
              A on
              time, Party B will return all the fund received from Party
              A.

          

    	·     
             	
            If
              Party A terminates the public listing process, payments to Party B
              will
              not be refunded.

          

    	·     
             	
            For
              a period of 5 years from signing of this agreement, Party B will serve
              as
              the exclusive financial consultant of Party A in the
              US.

          

    

    Completion
      of Duties

    

    Parties
      B’s responsibilities for merger phase will be completed upon delivery of stock
      certificates representing 80% of the total shares outstanding of the initial
      capital structure. Upon completion of the merger phase duties, Party A is
      responsible for complete payment of the public listing fee. 

    

    Legal

    

    Both
      parties are responsible for abiding by the laws of their separate jurisdictions.

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