Document:

exv10w2

Exhibit 10.2

FIRST AMENDMENT TO CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of December 1,
2006, is by and among NEW CENTURY TRANSPORTATION, INC., a New Jersey corporation (the
“Borrower”), the Material Domestic Subsidiaries of the Borrower party hereto (each a
“Guarantor” and collectively, the “Guarantors”), and WACHOVIA BANK, NATIONAL
ASSOCIATION, as administrative agent on behalf of the Lenders (as hereinafter defined) under the
Credit Agreement (as hereinafter defined) (in such capacity, the “Administrative Agent”).
Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed
thereto in the Credit Agreement.

W I T N E S S E T H

     WHEREAS, the Borrower, the Guarantors, certain banks and financial institutions from time to
time party thereto (the “Lenders”) and the Administrative Agent are parties to that certain
Credit Agreement dated as of August 14, 2006 (as amended, modified, extended, restated, replaced,
or supplemented from time to time, the “Credit Agreement”);

     WHEREAS, the Credit Parties have requested the Required Lenders amend certain provisions of
the Credit Agreement; and

     WHEREAS, the Required Lenders are willing to make such amendments to the Credit Agreement,
subject to the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

ARTICLE I

AMENDMENTS TO CREDIT AGREEMENT

     1.1 New Definitions. The following definitions are hereby added to Section 1.1 of the
Credit Agreement in the appropriate alphabetical order:

     “First Amendment Effective Date” shall mean December 1, 2006.

     “Initial Term Loan” shall have the meaning set forth in Section 2.2(a).

     “Initial Term Loan Committed Amount” shall have the meaning set forth in Section
2.2(a).

     “Incremental Term Loan “ shall have the meaning set forth in Section 2.2(a).

     “Incremental Term Loan Committed Amount” shall have the meaning set forth in Section
2.2(a).

 

 

     1.2 Amendment to Revolving Committed Amount. Section 2.1 (a) of the Credit Agreement
is hereby amended by deleting the words “TWENTY MILLION DOLLARS ($20,000,000)” and replacing them
with the words “TWENTY-FIVE MILLION DOLLARS ($25,000,000).”

     1.3 Amendment to Section 2.2. Section 2.2(a) and Section 2.2(b) of the Credit
Agreement are hereby amended and restated in their entireties to read as follows:

     (a) Term Loan. Subject to the terms and conditions hereof and in reliance upon
the representations and warranties set forth herein, each Term Loan Lender severally, but
not jointly, agrees to make available to the Borrower (through the Administrative Agent) on
(a) the Closing Date such Term Loan Lender’s Term Loan Commitment Percentage of a term loan
in Dollars (the “Initial Term Loan”) in the aggregate principal amount of ONE
HUNDRED MILLION DOLLARS ($100,000,000) (the “Initial Term Loan Committed Amount”)
and (b) the First Amendment Effective Date such Term Loan Lender’s Term Loan Commitment
Percentage of a term loan in Dollars (the “Incremental Term Loan”; and together with
the “Initial Term Loan”, the “Term Loan”) in the aggregate principal amount of
FIFTEEN MILLION DOLLARS ($15,000,000) (the “Incremental Term Loan Committed Amount”;
together with the Initial Term Loan Committed Amount, the “Term Loan Committed
Amount”), in each case for the purposes hereinafter set forth. Upon receipt by the
Administrative Agent of the proceeds of the Term Loan, such proceeds will then be made
available to the Borrower by the Administrative Agent by crediting the account of the
Borrower on the books of the office of the Administrative Agent specified in Section 9.2, or
at such other office as the Administrative Agent may designate in writing, with the
aggregate of such proceeds made available to the Administrative Agent by the Term Loan
Lenders and in like funds as received by the Administrative Agent (or by crediting such
other account(s) as directed by the Borrower). The Term Loan may consist of Alternate Base
Rate Loans or LIBOR Rate Loans, or a combination thereof, as the Borrower may request;
provided, however, that the Term Loan made on the Closing Date and/or the
First Amendment Effective Date may only consist of Alternate Base Rate Loans unless the
Borrower delivers a funding indemnity letter, substantially in the form of Exhibit
2.1 (a), reasonably acceptable to the Administrative Agent not less than three (3)
Business Days prior to the Closing Date and/or the First Amendment Effective Date, as
applicable. LIBOR Rate Loans shall be made by each Term Loan Lender at its LIBOR Lending
Office and Alternate Base Rate Loans at its Domestic Lending Office. Amounts repaid or
prepaid on the Term Loan may not be reborrowed.

     (b) Repayment of Term Loan. The principal amount of the Term Loan shall be
repaid in twenty-four (24) consecutive quarterly installments as follows, unless accelerated
sooner pursuant to Section 7.2:

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	Principal Amortization Payment	 	Term Loan Principal Amortization
	Dates	 	Payment
	December 31, 2006
	 	$287,500
	March 31, 2007
	 	$287,500
	June 30, 2007
	 	$287,500
	September 30, 2007
	 	$287,500
	December 31, 2007
	 	$287,500
	March 31, 2008
	 	$287,500
	June 30, 2008
	 	$287,500
	September 30, 2008
	 	$287,500
	December 31, 2008
	 	$287,500
	March 31, 2009
	 	$287,500
	June 30, 2009
	 	$287,500
	September 30, 2009
	 	$287,500
	December 31, 2009
	 	$287,500
	March 31, 2010
	 	$287,500
	June 30, 2010
	 	$287,500
	September 30, 2010
	 	$287,500
	December 31, 2010
	 	$287,500
	March 31, 2011
	 	$287,500
	June 30, 2011
	 	$287,500
	September 30, 2011
	 	$287,500
	December 31, 2011
	 	$287,500
	March 31, 2012
	 	$287,500
	June 30, 2012
	 	$287,500
	Term Loan Maturity Date
	 	$108,387,500 or the remaining
	 
	 	outstanding principal amount of
	 
	 	the Term Loan

     1.4 Amendment to Section 2.2(e). Section 2.2(e) of the Credit Agreement is hereby
amended by deleting the words “FIFTY MILLION DOLLARS ($50,000,000)” and replacing them with the
words “THIRTY-FIVE MILLION DOLLARS ($35,000,000).”

     1.5 Amendment to Section 5.13. Section 5.13 of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

     Section 5.13 Hedging Agreements.

     Within 90 days following the First Amendment Effective Date, cause at least 50% of the
aggregate Term Loan then outstanding, and projected to be outstanding, to be hedged pursuant to
Hedging Agreements for a term of at least three (3) years with a counterparty and on terms
reasonably acceptable to the Administrative Agent.

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     1.6 Amendment to Section 6.10. Clause (c) of Section 6.10 of the Credit Agreement is
hereby amended and restated in its entirety to read as follows:

     (a) so long as no Default or Event of Default exists before and after giving effect
thereto, to make (i) payments with respect to earn out obligations and (ii) interest
payments with respect to Subordinated Debt permitted by Section 6.1(h), in each case
incurred as part of the consideration for a Permitted Acquisition,

ARTICLE II

CONDITIONS TO EFFECTIVENESS

     2.1 Closing Conditions. This Amendment shall become effective as of the day and year
set forth above (the “First Amendment Effective Date”) upon satisfaction of the following
conditions (in form and substance reasonably acceptable to the Administrative Agent):

     (a) Executed Amendment. The Administrative Agent shall have received a copy of
this Amendment duly executed by each of the Credit Parties and the Administrative Agent, on
behalf of the Required Lenders.

     (b) Executed Consents. The Administrative Agent shall have received executed
consents, in substantially the form of Exhibit A attached hereto, from the Required
Lenders authorizing the Administrative Agent to enter into this Amendment on their behalf.
The delivery by the Administrative Agent of its signature page to this Amendment shall
constitute conclusive evidence that the consents from the Required Lenders have been
obtained.

     (c) Notes. The Administrative Agent shall have received (i) for the account of
any Revolving Lender requesting a promissory note, a Revolving Note, and (ii) for the
account of any Term Loan Lender requesting a promissory note, a Term Loan Note.

     (d) Authority Documents. The Administrative Agent shall have received a (i)
certificate for each Credit Party (including the Acquired Company and its Subsidiaries),
certified by an officer of such Credit Party as of the First Amendment Effective Date,
certifying that the (A) articles of incorporation, partnership agreement or other charter
documents of such Credit Party, and (B) the bylaws or other operating agreement of such
Credit Party, which were delivered to the Administrative Agent in connection with the
closing of the Credit Agreement, have not been rescinded or modified, have been in full
force and effect since the Closing Date of the Credit Agreement and are in full force and
effect as of the First Amendment Effective Date, (ii) resolutions of the board of directors
or other comparable governing body of such Credit Party approving and adopting this
Amendment, the transactions contemplated herein and authorizing the execution and delivery
hereof, (iii) copies of certificates of good standing, existence or its equivalent with
respect to each Credit Party certified as of a recent date by the appropriate Governmental
Authorities of the state of incorporation and each other state in which the failure to so
qualify and be in good standing could reasonably be expected to have a

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Material Adverse Effect and (iv) an incumbency certificate of each Credit Party
certified by a secretary or assistant secretary (pursuant to a secretary’s certificate in
substantially the form of Exhibit 4.1(b) to the Credit Agreement) to be true and
correct as of the First Amendment Effective Date.

     (e) Legal Opinion of Counsel. The Administrative Agent shall have received an
opinion or opinions (including, if requested by the Administrative Agent, local counsel
opinions) of counsel for the Credit Parties, dated the First Amendment Effective Date and
addressed to the Administrative Agent and the Lenders, in form and substance acceptable to
the Administrative Agent (which shall include, without limitation, opinions with respect to
the due organization and valid existence of each Credit Party and opinions as to the
non-contravention of the Credit Parties’ organizational documents).

     (f) Solvency Certificate. The Administrative Agent shall have received an
officer’s certificate prepared by the chief financial officer of the Borrower as to the
financial condition, solvency and related matters of the Credit Parties and their
Subsidiaries, after giving effect to the initial borrowings under this Amendment, in
substantially the form of Exhibit 4.1(g) to the Credit Agreement.

     (g) Consents. The Administrative Agent shall have received evidence that all
boards of directors, governmental, shareholder and material third party consents and
approvals (if any) necessary in connection with the transactions contemplated hereby,
including, without limitation, the acquisition (the “Acquisition”) of Western
Freightways, Inc. (the “Acquired Company”) (collectively, the
“Transactions”) have been obtained and all applicable waiting periods have expired
without any action being taken by any authority that could restrain, prevent or impose any
material adverse conditions on such transactions or that could seek or threaten any of the
foregoing.

     (h) Compliance with Laws. The financings and other Transactions shall be in
compliance with all applicable laws and regulations (including all applicable securities and
banking laws, rules and regulations).

     (i) Bankruptcy. There shall be no bankruptcy or insolvency proceedings pending
with respect to any Credit Party or any Subsidiary thereof.

     (j) Financial Condition Certificate. The Administrative Agent shall have
received a certificate or certificates executed by a Responsible Officer of the Borrower as
of the First Amendment Effective Date, substantially in the form of Exhibit 4.1(o)
to the Credit Agreement stating that (i) there does not exist any pending or ongoing,
action, suit, investigation, litigation or proceeding in any court or before any other
Governmental Authority (A) affecting this Amendment or the other Credit Documents, that has
not been settled, dismissed, vacated, discharged or terminated prior to the First Amendment
Effective Date or (B) that purports to affect any Credit Party or any of its Subsidiaries,
or any transaction contemplated by the Credit Documents, which action, suit, investigation,
litigation or proceeding could reasonably be expected to have a Material Adverse Effect,

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that has not been settled, dismissed, vacated, discharged or terminated prior to the
First Amendment Effective Date, (ii) immediately after giving effect to this Amendment, the
other Credit Documents, and all the Transactions contemplated to occur on such date, (A) no
Default or Event of Default exists, (B) all representations and warranties contained herein
and in the other Credit Documents are true and correct, (C) the Credit Parties are in pro
forma compliance with each of the financial covenants set forth in Section 5.9 (as evidenced
through detailed calculations of such financial covenants on a schedule to such certificate)
as of the last day of the month ending at least twenty (20) days preceding the First
Amendment Effective Date and (D) the Consolidated Leverage Ratio shall be less than 4.25 to
1.0 (as evidenced through detailed calculations of such financial covenant on a schedule to
such certificate), (iii) the conditions to Extensions of Credit in Section 4.2 of the Credit
Agreement shall have been satisfied, (iv) each of the other conditions precedent in Article
II have been satisfied, except to the extent the satisfaction of any such condition is
subject to the judgment or discretion of the Administrative Agent or any Lender.

     (k) Acquisition Documents.

     (i) The Administrative Agent, on behalf of the Secured Parties, shall have
received (or shall receive in connection with the closing of the Acquisition) a
first priority perfected security interest in all property (including, without
limitation, Capital Stock) acquired with respect to the Acquired Company in
accordance with the terms of Sections 5.10 and 5.12 of the Credit Agreement.

     (ii) The Administrative Agent shall have received a fully executed Joinder
Agreement in accordance with the terms of Section 5.10 of the Credit Agreement.

     (iii) The Administrative Agent and the Lenders shall have received (A) a
description of the material terms of the Acquisition, (B) audited financial
statements (or, if unavailable, management-prepared financial statements) of the
Acquired Company for its two most recent fiscal years and for any fiscal quarters
ended within the fiscal year to date, (C) Consolidated projected income statements
of the Borrower and its Consolidated Subsidiaries (giving effect to the
Acquisition), and (D) a certificate substantially in the form of Exhibit
1.1(g) to the Credit Agreement, executed by a Responsible Officer of the
Borrower certifying that the Acquisition complies with the requirements of the
Credit Agreement, all in form and substance reasonably satisfactory to the
Administrative Agent.

     (l) Financial Projections. The Administrative Agent shall have received
updated financial projections reasonably satisfactory in form and substance to the
Administrative Agent.

     (m) Fees and Expenses. The Borrower shall have paid in full all reasonable
out-of-pocket fees and expenses of the Administrative Agent in connection with the

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preparation, execution and delivery of this Amendment, including without limitation,
the reasonable fees and expenses of Moore & Van Allen PLLC.

     (n) Miscellaneous. All other documents and legal matters in connection with
the transactions contemplated by this Amendment shall be reasonably satisfactory in form and
substance to the Administrative Agent and its counsel.

ARTICLE III

MISCELLANEOUS

     3.1 Amended Terms. On and after the First Amendment Effective Date, all references to
the Credit Agreement in each of the Credit Documents shall hereafter mean the Credit Agreement as
amended by this Amendment. Except as specifically amended hereby or otherwise agreed, the Credit
Agreement is hereby ratified and confirmed and shall remain in full force and effect according to
its terms.

     3.2 Representations and Warranties of Credit Parties. Each of the Credit Parties
represents and warrants as follows:

     (a) It has taken all necessary action to authorize the execution, delivery and
performance of this Amendment.

     (b) This Amendment has been duly executed and delivered by such Person and constitutes
such Person’s legal, valid and binding obligations, enforceable in accordance with its
terms, except as such enforceability may be subject to (i) bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and (ii) general principles of equity (regardless of whether
such enforceability is considered in a proceeding at law or in equity).

     (c) No consent, approval, authorization or order of, or filing, registration or
qualification with, any court or governmental authority or third party is required in
connection with the execution, delivery or performance by such Person of this Amendment.

     (d) The representations and warranties set forth in Article HI of the Credit Agreement
are true and correct as of the date hereof (except for those which expressly relate to an
earlier date).

     (e) After giving effect to this Amendment, no event has occurred and is continuing
which constitutes a Default or an Event of Default.

     (f) The Security Documents continue to create a valid security interest in, and Lien
upon, the Collateral, in favor of the Administrative Agent, for the benefit of the Lenders,
which security interests and Liens are perfected in accordance with the terms of the
Security Documents and prior to all Liens other than Permitted Liens.

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     (g) Except as specifically provided in this Amendment, the Credit Party Obligations are
not reduced or modified by this Amendment and are not subject to any offsets, defenses or
counterclaims.

     3.3 Reaffirmation of Credit Party Obligations. Each Credit Party hereby ratifies the
Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit
Agreement applicable to it and (b) that it is responsible for the observance and full performance
of its respective Credit Party Obligations.

     3.4 Credit Document. This Amendment shall constitute a Credit Document under the
terms of the Credit Agreement.

     3.5 Further Assurances. The Credit Parties agree to promptly take such action, upon
the request of the Administrative Agent, as is necessary to carry out the intent of this Amendment.

     3.6 Entirety. This Amendment and the other Credit Documents embody the entire
agreement among the parties hereto and supersede all prior agreements and understandings, oral or
written, if any, relating to the subject matter hereof.

     3.7 Counterparts; Telecopy. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original, but all of which
shall constitute one and the same instrument. Delivery of an executed counterpart to this
Amendment by telecopy or other electronic means shall be effective as an original and shall
constitute a representation that an original will be delivered.

     3.8 No Actions, Claims, Etc. As of the date hereof, each of the Credit Parties hereby
acknowledges and confirms that it has no knowledge of any actions, causes of action, claims,
demands, damages and liabilities of whatever kind or nature, in law or in equity, against the
Administrative Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective
officers, employees, representatives, agents, counsel or directors arising from any action by such
Persons, or failure of such Persons to act under this Credit Agreement on or prior to the date
hereof.

     3.9 GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402
OF THE NEW YORK GENERAL OBLIGATIONS LAW).

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

     3.11 General Release. In consideration of the Administrative Agent, on behalf of the
Lenders, entering into this Amendment, each Credit Party hereby releases the Administrative Agent,
the Lenders, and the Administrative Agent’s and the Lenders’ respective officers,

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employees, representatives, agents, counsel and directors from any and all actions, causes of
action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity,
now known or unknown, suspected or unsuspected to the extent that any of the foregoing arises from
any action or failure to act under the Credit Agreement on or prior to the date hereof, except,
with respect to any such person being released hereby, any actions, causes of action, claims,
demands, damages and liabilities arising out of such person’s gross negligence, bad faith or
willful misconduct.

     3.12 Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The
jurisdiction, services of process and waiver of jury trial provisions set forth in Sections 9.14
and 9.17 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.

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     IN WITNESS WHEREOF the Credit Parties and the Administrative Agent (on behalf of the Required
Lenders) have caused this Amendment to be duly executed on the date first above written.

	 	 	 	 	 
	BORROWER: 	
 NEW CENTURY TRANSPORTATION, INC.,

a New Jersey corporation

 	 
	 	By:  	/s/ Brian Fitzpatrick
 	 
	 	 	Name:  	Brian Fitzpatrick 	 
	 	 	Title:  	CFO 	 
	 
	GUARANTORS: 	 EAST PARK ACQUISITION, LLC,

a New Jersey limited liability company

 	 
	 	By:  	/s/ Brian Fitzpatrick
 	 
	 	 	Name:  	Brian Fitzpatrick 	 
	 	 	Title:  	EVP, CFO 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	ADMINISTRATIVE AGENT: 	 WACHOVIA BANK, NATIONAL ASSOCIATION, as

Administrative Agent on behalf of the Required
Lenders

 	 
	 	By:  	/s/ Douglas T. Davis
 	 
	 	 	Name:  	Douglas T. Davis 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

EXHIBIT A

[FORM OF]

CONSENT TO FIRST AMENDMENT

TO CREDIT AGREEMENT

     This Consent is given pursuant to the Credit Agreement, dated as of August 14, 2006 (as
previously amended and modified, the “Credit Agreement”: and as further amended by the
Amendment (as hereinafter defined), the “Amended Credit Agreement”), by and among NEW
CENTURY TRANSPORTATION, INC., a New Jersey corporation (the “Borrower”), those Material
Domestic Subsidiaries of the Borrower party hereto (each a “Guarantor” and collectively,
the “Guarantors”), the lenders and other financial institutions from time to time party
thereto (the “Lenders”) and WACHOVIA BANK, NATIONAL ASSOCIATION, as administrative agent on
behalf of the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms
used herein shall have the meanings ascribed thereto in the Credit Agreement unless otherwise
defined herein.

     The undersigned hereby approves the amendment of the Credit Agreement effected by the First
Amendment to Credit Agreement (the “Amendment”), dated as of December 1, 2006, by and among
the Borrower, the Guarantors party thereto, and the Administrative Agent and hereby authorizes the
Administrative Agent to execute and deliver the Amendment on its behalf and, by its execution
below, the undersigned agrees to be bound by the terms and conditions of the Amendment and the
Amended Credit Agreement.

     Delivery of this Consent by telecopy shall be effective as an original.

     A
duly authorized officer of the undersigned has executed this Consent as of the ___ day of
                    , 2006.

	 	 	 	 	 
	 	 	 	 	, 
	 	
as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w3

Exhibit 10.3

SECOND AMENDMENT TO CREDIT AGREEMENT

     THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of June 29,
2007, is by and among NEW CENTURY TRANSPORTATION, INC., a New Jersey corporation (the
“Borrower”), the Material Domestic Subsidiaries of the Borrower party hereto (each a
“Guarantor” and collectively, the “Guarantors”), and WACHOVIA BANK, NATIONAL ASSOCIATION,
as administrative agent on behalf of the Lenders (as hereinafter defined) under the Credit
Agreement (as hereinafter defined) (in such capacity, the “Administrative Agent”).
Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed
thereto in the Credit Agreement.

WITNESSETH

     WHEREAS, the Borrower, the Guarantors, certain banks and financial institutions from time to
time party thereto (the “Lenders”) and the Administrative Agent are parties to that certain
Credit Agreement dated as of August 14, 2006, as amended by that certain First Amendment to Credit
Agreement dated as of December 1, 2006 (as amended, modified, extended, restated, replaced, or
supplemented from time to time, the “Credit Agreement”);

     WHEREAS, the Credit Parties have requested the Required Lenders amend certain provisions of
the Credit Agreement; and

     WHEREAS, the Required Lenders are willing to make such amendments to the Credit Agreement,
subject to the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

ARTICLE I

AMENDMENTS TO CREDIT AGREEMENT

     1.1 New Definitions. The following definitions are hereby added to Section 1.1 of the
Credit Agreement in the appropriate alphabetical order:

     “Add-On Term Loan” shall have the meaning set forth in Section 2.2(a).

     “Add-On Term Loan Committed Amount” shall have the meaning set forth in Section
2.2(a).

     “LIBOR Market Index Rate” means, for any day, the 30-day rate of interest per annum
appearing on Reuters Screen LIBOR01 Page (or any successor page) as the London interbank offered
rate for deposits in Dollars at approximately 11:00 A.M. (London time) on such day, or if such day
is not a London business day, then the immediately preceding London business day (or if not so
reported, then as determined by

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the Agent from another recognized source or interbank quotation), or another rate as agreed to
by the Agent and the Borrower.

     “LIBOR Market Index Rate Loan” means a Loan bearing interest at the LIBOR Market Index
Rate.

     “Second Amendment Effective Date” shall mean June 29, 2007.

     1.2 Amended Definitions. The following definition found in Section 1.1 of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

     “Interest Payment Date” shall mean (a) as to any Alternate Base Rate Loan, the last
Business Day of each March, June, September and December and on the applicable Maturity Date, (b)
as to any LIBOR Rate Loan having an Interest Period of three months or less, the last day of such
Interest Period, (c) as to any LIBOR Rate Loan having an Interest Period longer than three months,
(i) each three (3) month anniversary following the first day of such Interest Period and (ii) the
last day of such Interest Period, (d) as to LIBOR Market Index Rate Loans, the last Business Day of
each March, June, September and December, the maturity date for such LIBOR Market Index Rate Loan
and the Revolver Maturity Date and (e) as to any Loan which is the subject of a mandatory
prepayment required pursuant to Section 2.7(b), the date on which such mandatory prepayment is due.

     1.3 Amendment to Section 2.2. Section 2.2(a) and Section 2.2(b) of the Credit
Agreement are hereby amended and restated in their entireties to read as follows:

     (a) Term Loan. Subject to the terms and conditions hereof and in reliance
upon the representations and warranties set forth herein, each Term Loan Lender severally,
but not jointly, agrees to make available to the Borrower (through the Administrative
Agent) on (a) the Closing Date such Term Loan Lender’s Term Loan Commitment Percentage of a
term loan in Dollars (the “Initial Term Loan”) in the aggregate principal amount of
ONE HUNDRED MILLION DOLLARS ($100,000,000) (the “Initial Term Loan Committed
Amount”), (b) the First Amendment Effective Date such Term Loan Lender’s Term Loan
Commitment Percentage of a term loan in Dollars (the “Incremental Term Loan”) in
the aggregate principal amount of FIFTEEN MILLION DOLLARS ($15,000,000) (the
“Incremental Term Loan Committed Amount”) and (c) the Second Amendment Effective
Date such Term Loan Lender’s Term Loan Commitment Percentage of a term loan in Dollars (the
“Add-On Term Loan”; and together with the Initial Term Loan and the Incremental
Term Loan, the “Term Loan”) in the aggregate principal amount of TWENTY-SEVEN
MILLION DOLLARS ($27,000,000) (the “Add-On Term Loan Committed Amount”; together
with the Initial Term Loan Committed Amount and the Incremental Term Loan Committed Amount,
the “Term Loan Committed Amount”), in each case for the purposes hereinafter set
forth. Upon receipt by the Administrative Agent of the proceeds of the Term Loan, such
proceeds will then be made available to the Borrower by the Administrative Agent by
crediting the

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account of the Borrower on the books of the office of the Administrative Agent specified in
Section 9.2, or at such other office as the Administrative Agent may designate in writing,
with the aggregate of such proceeds made available to the Administrative Agent by the Term
Loan Lenders and in like funds as received by the Administrative Agent (or by crediting
such other account(s) as directed by the Borrower). The Term Loan may consist of Alternate
Base Rate Loans or LIBOR Rate Loans, or a combination thereof, as the Borrower may request;
provided, however, that the Term Loan made on the Closing Date, the First
Amendment Effective Date and/or the Second Amendment Effective Date may only consist of
Alternate Base Rate Loans unless the Borrower delivers a funding indemnity letter,
substantially in the form of Exhibit 2.1(a), reasonably acceptable to the
Administrative Agent not less than three (3) Business Days prior to the Closing Date, the
First Amendment Effective Date and/or Second Amendment Effective Date, as applicable.
LIBOR Rate Loans shall be made by each Term Loan Lender at its LIBOR Lending Office and
Alternate Base Rate Loans at its Domestic Lending Office. Amounts repaid or prepaid on the
Term Loan may not be reborrowed.

     (b) Repayment of Term Loan. The principal amount of the Term Loan shall be
repaid in twenty-two (22) consecutive quarterly installments as follows, unless accelerated
sooner pursuant to Section 7.2:

	 	 	 	 	 
	Principal Amortization Payment	 	Term Loan Principal Amortization
	Dates	 	Payment
	June 30, 2007

	 	$	355,000	 
	September 30, 2007

	 	$	355,000	 
	December 31, 2007

	 	$	355,000	 
	March 31, 2008

	 	$	355,000	 
	June 30, 2008

	 	$	355,000	 
	September 30, 2008

	 	$	355,000	 
	December 31, 2008

	 	$	355,000	 
	March 31, 2009

	 	$	355,000	 
	June 30, 2009

	 	$	355,000	 
	September 30, 2009

	 	$	355,000	 
	December 31, 2009

	 	$	355,000	 
	March 31, 2010

	 	$	355,000	 
	June 30, 2010

	 	$	355,000	 
	September 30, 2010

	 	$	355,000	 
	December 31, 2010

	 	$	355,000	 
	March 31, 2011

	 	$	355,000	 
	June 30, 2011

	 	$	355,000	 
	September 30, 2011

	 	$	355,000	 
	December 31, 2011

	 	$	355,000	 
	March 31, 2012

	 	$	355,000	 
	June 30, 2012

	 	$	355,000	 
	Term Loan Maturity Date

	 	Remaining outstanding principal amount of
the Term Loan

3

 

     1.4 Amendment to Section 2.4. Section 2.4(c) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

     (c) Interest on Swingline Loans. Subject to the provisions of Section 2.8,
Swingline Loans shall bear interest at a per annum rate equal to (i) the Alternate Base
Rate plus the Applicable Percentage for Revolving Loans that are Alternate Base
Rate Loans or (ii) at the request of the Borrower and with the consent of the Swingline
Lender, the LIBOR Market Index Rate plus the Applicable Percentage for Revolving
Loans that are LIBOR Rate Loans. Interest on Swingline Loans shall be payable in arrears on
each Interest Payment Date.

     1.5 Amendment to Section 2.7. Section 2.7(b)(vii)(A) of the Credit Agreement is
hereby amended and restated in its entirety to read as follows:

     (A) with respect to all amounts prepaid pursuant to Section 2.7(b)(i), (1)
first to the outstanding Swingline Loans (first to LIBOR Market Index Rate Loans in
the direct order such Loans were incurred and then to Alternate Base Rate Loans) and (2)
second to the outstanding Revolving Loans;

     1.6 Amendment to Section 5.9. Section 5.9(a) and 5.9(b) of the Credit Agreement are hereby
amended and restated in their entireties to read as follows:

     Section 5.9 Financial Covenants.

     Comply with the following financial covenants:

     (a) Consolidated Leverage Ratio. The Consolidated Leverage Ratio, for the
twelve month period ending as of each fiscal quarter end shall be less than or equal to the
levels set forth in the grid below for the periods corresponding thereto:

	 	 	 
	Period	 	Maximum Ratio
	Closing Date through September 30, 2007
	 	4.75 to 1.00
	October 1, 2007 through March 31, 2008
	 	4.50 to 1.00
	April 1, 2008 through September 30, 2008
	 	4.25 to 1.00
	October 1, 2008 through March 31, 2009
	 	3.75 to 1.00
	April 1, 2009 through June 30, 2009
	 	3.50 to 1.00
	July 1, 2009 through September 30, 2009
	 	3.25 to 1.00
	October 1, 2009 through December 31, 2009
	 	3.00 to 1.00
	January 1, 2010 and thereafter
	 	2.50 to 1.00

4

 

     (b) Minimum Interest Coverage Ratio. Interest Coverage Ratio, for the twelve
month period ending as of each fiscal quarter end shall be greater than or equal to the
levels set forth in the grid below for the periods corresponding thereto:

	 	 	 	 	 
	Period	 	Minimum Ratio	 
	Closing Date through March 31, 2007
	 	 	2.25 to 1.00	 
	April 1, 2007 through March 31, 2008
	 	 	2.50 to 1.00	 
	April 1, 2008 through September 30, 2008
	 	 	2.75 to 1.00	 
	October 1, 2008 through March 31, 2009
	 	 	3.00 to 1.00	 
	April 1, 2009 through September 30, 2009
	 	 	3.25 to 1.00	 
	October 1, 2009 through December 31, 2009
	 	 	3.50 to 1.00	 
	January 1, 2010 and thereafter
	 	 	3.75 to 1.00	 

     1.7 Amendment to Section 5.13. Section 5.13 of the Credit Agreement is hereby amended
and restated in its entirety to read as follows:

     Section 5.13 Hedging Agreements.

     Within 90 days following the Second Amendment Effective Date, cause at least 50% of
the aggregate Term Loan then outstanding, and projected to be outstanding, to be hedged
pursuant to Hedging Agreements for a term of at least three (3) years with a counterparty
and on terms reasonably acceptable to the Administrative Agent.

     1.8 Amendment to Exhibits. Exhibit 1.1(e) of the Credit Agreement is hereby amended
and restated in its entirety to read as set forth on Exhibit A hereto.

ARTICLE II

CONDITIONS TO EFFECTIVENESS

     2.1 Closing Conditions. This Amendment shall become effective as of the Second
Amendment Effective Date upon satisfaction of the following conditions (in form and substance
reasonably acceptable to the Administrative Agent):

     (a) Executed Amendment. The Administrative Agent shall have received a copy of this
Amendment duly executed by each of the Credit Parties and the Administrative Agent, on behalf of
the Required Lenders.

     (b) Executed Consents. The Administrative Agent shall have received executed
consents, in substantially the form of Exhibit B attached hereto, from the Required Lenders
authorizing the Administrative Agent to enter into this Amendment on their behalf. The delivery by
the Administrative Agent of its signature page to this Amendment shall constitute conclusive
evidence that the consents from the Required Lenders have been obtained.

5

 

     (c) Notes. The Administrative Agent shall have received for the account of any Term
Loan Lender requesting a promissory note, a Term Loan Note.

     (d) Authority Documents. The Administrative Agent shall have received a (i)
certificate for each Credit Party, certified by an officer of such Credit Party as of the Second
Amendment Effective Date, certifying that the (A) articles of incorporation, partnership agreement
or other charter documents of such Credit Party, and (B) the bylaws or other operating agreement of
such Credit Party, which were delivered to the Administrative Agent in connection with the closing
of the Credit Agreement, have not been rescinded or modified, have been in full force and effect
since the Closing Date of the Credit Agreement and are in full force and effect as of the Second
Amendment Effective Date, (ii) resolutions of the board of directors or other comparable governing
body of such Credit Party approving and adopting this Amendment, the transactions contemplated
herein and authorizing the execution and delivery hereof, (iii) copies of certificates of good
standing, existence or its equivalent with respect to each Credit Party certified as of a recent
date by the appropriate Governmental Authorities of the state of incorporation and each other state
in which the failure to so qualify and be in good standing could reasonably be expected to have a
Material Adverse Effect and (iv) an incumbency certificate of each Credit Party certified by a
secretary or assistant secretary (pursuant to a secretary’s certificate in substantially the form
of Exhibit 4.1(b) to the Credit Agreement) to be true and correct as of the Second
Amendment Effective Date.

     (e) Legal Opinion of Counsel. The Administrative Agent shall have received an opinion
or opinions (including, if requested by the Administrative Agent, local counsel opinions) of
counsel for the Credit Parties, dated the Second Amendment Effective Date and addressed to the
Administrative Agent and the Lenders, in form and substance acceptable to the Administrative Agent
(which shall include, without limitation, opinions with respect to the due organization and valid
existence of each Credit Party and opinions as to the non-contravention of the Credit Parties’
organizational documents).

     (f) Solvency Certificate. The Administrative Agent shall have received an officer’s
certificate prepared by the chief financial officer of the Borrower as to the financial condition,
solvency and related matters of the Credit Parties and their Subsidiaries, after giving effect to
the initial borrowings under this Amendment, in substantially the form of Exhibit 4.1(g) to
the Credit Agreement.

     (g) Consents. The Administrative Agent shall have received evidence that all boards
of directors, governmental, shareholder and material third party consents and approvals (if any)
necessary in connection with the transactions contemplated hereby, including, without limitation,
the acquisition (the “Acquisition”) of P&P Transport, Inc. and Evergreen Equipment Leasing
Co., Inc. (collectively, the “Acquired Company”) (collectively, the “Transactions”)
have been obtained and all applicable waiting periods have expired without any action being taken
by any authority that could restrain, prevent or impose any material adverse conditions on such
transactions or that could seek or threaten any of the foregoing.

6

 

     (h) Compliance with Laws. The financings and other Transactions shall be in
compliance with all applicable laws and regulations (including all applicable securities and
banking laws, rules and regulations).

     (i) Bankruptcy. There shall be no bankruptcy or insolvency proceedings pending with
respect to any Credit Party or any Subsidiary thereof.

     (j) Financial Condition Certificate. The Administrative Agent shall have received a
certificate or certificates executed by a Responsible Officer of the Borrower as of the Second
Amendment Effective Date, substantially in the form of Exhibit 4.1(o) to the Credit
Agreement stating that (i) there does not exist any pending or ongoing, action, suit,
investigation, litigation or proceeding in any court or before any other Governmental Authority (A)
affecting this Amendment or the other Credit Documents, that has not been settled, dismissed,
vacated, discharged or terminated prior to the Second Amendment Effective Date or (B) that purports
to affect any Credit Party or any of its Subsidiaries, or any transaction contemplated by the
Credit Documents, which action, suit, investigation, litigation or proceeding could reasonably be
expected to have a Material Adverse Effect, that has not been settled, dismissed, vacated,
discharged or terminated prior to the Second Amendment Effective Date, (ii) immediately after
giving effect to this Amendment, the other Credit Documents, and all the Transactions contemplated
to occur on such date, (A) no Default or Event of Default exists, (B) all representations and
warranties contained herein and in the other Credit Documents are true and correct, (C) the Credit
Parties are in pro forma compliance with each of the financial covenants set forth in Section 5.9
(as evidenced through detailed calculations of such financial covenants on a schedule to such
certificate) as of the last day of the month ending at least twenty (20) days preceding the Second
Amendment Effective Date and (D) the Consolidated Leverage Ratio shall be less than 4.25 to 1.0 (as
evidenced through detailed calculations of such financial covenant on a schedule to such
certificate), (iii) the conditions to Extensions of Credit in Section 4.2 of the Credit Agreement
shall have been satisfied, (iv) each of the other conditions precedent in Article II have been
satisfied, except to the extent the satisfaction of any such condition is subject to the judgment
or discretion of the Administrative Agent or any Lender.

     (k) Acquisition Documents.

     (i) The Administrative Agent, on behalf of the Secured Parties, shall have received
(or shall receive in connection with the closing of the Acquisition) a first priority
perfected security interest in all property (including, without limitation, Capital Stock)
acquired with respect to the Acquired Company in accordance with the terms of Sections 5.10
and 5.12 of the Credit Agreement.

     (ii) The Administrative Agent shall have received a fully executed Joinder Agreement
in accordance with the terms of Section 5.10 of the Credit Agreement.

     (iii) The Administrative Agent and the Lenders shall have received (A) a description
of the material terms of the Acquisition, (B) audited financial

7

 

statements (or, if unavailable, management-prepared financial statements) of the Acquired
Company for its two most recent fiscal years and for any fiscal quarters ended within the
fiscal year to date, (C) Consolidated projected income statements of the Borrower and its
Consolidated Subsidiaries (giving effect to the Acquisition), and (D) a certificate
substantially in the form of Exhibit 1.1(g) to the Credit Agreement, executed by a
Responsible Officer of the Borrower certifying that the Acquisition complies with the
requirements of the Credit Agreement, all in form and substance reasonably satisfactory to
the Administrative Agent.

     (1) Financial Projections. The Administrative Agent shall have received updated
financial projections reasonably satisfactory in form and substance to the Administrative Agent.

     (m) Fees and Expenses. The Borrower shall have paid in full (i) for the account of
each Lender approving this Amendment, an amendment fee equal to 25 basis points on such Lender’s
Commitment or if such Lender’s Commitment has terminated, such Lender’s outstanding Loans and (ii)
all reasonable out-of-pocket fees and expenses of the Administrative Agent in connection with the
preparation, execution and delivery of this Amendment, including without limitation, the reasonable
fees and expenses of Moore & Van Allen PLLC.

     (n) Miscellaneous. All other documents and legal matters in connection with the
transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance
to the Administrative Agent and its counsel.

ARTICLE III

MISCELLANEOUS

     3.1 Amended Terms. On and after the Second Amendment Effective Date, all references
to the Credit Agreement in each of the Credit Documents shall hereafter mean the Credit Agreement
as amended by this Amendment. Except as specifically amended hereby or otherwise agreed, the
Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect
according to its terms.

     3.2 Representations and Warranties of Credit Parties. Each of the Credit Parties
represents and warrants as follows:

     (a) It has taken all necessary action to authorize the execution, delivery and
performance of this Amendment.

     (b) This Amendment has been duly executed and delivered by such Person and constitutes
such Person’s legal, valid and binding obligations, enforceable in accordance with its
terms, except as such enforceability may be subject to (i) bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and (ii) general principles of equity (regardless of whether
such enforceability is considered in a proceeding at law or in equity).

8

 

     (c) No consent, approval, authorization or order of, or filing, registration or
qualification with, any court or governmental authority or third party is required in
connection with the execution, delivery or performance by such Person of this Amendment.

     (d) The representations and warranties set forth in Article III of the Credit
Agreement are true and correct as of the date hereof (except for those which expressly
relate to an earlier date).

     (e) After giving effect to this Amendment, no event has occurred and is continuing
which constitutes a Default or an Event of Default.

     (f) The Security Documents continue to create a valid security interest in, and Lien
upon, the Collateral, in favor of the Administrative Agent, for the benefit of the Lenders,
which security interests and Liens are perfected in accordance with the terms of the
Security Documents and prior to all Liens other than Permitted Liens.

     (g) Except as specifically provided in this Amendment, the Credit Party Obligations
are not reduced or modified by this Amendment and are not subject to any offsets, defenses
or counterclaims.

     3.3 Reaffirmation of Credit Party Obligations. Each Credit Party hereby ratifies the
Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit
Agreement applicable to it and (b) that it is responsible for the observance and full performance
of its respective Credit Party Obligations.

     3.4 Credit Document. This Amendment shall constitute a Credit Document under the
terms of the Credit Agreement.

     3.5 Further Assurances. The Credit Parties agree to promptly take such action, upon
the request of the Administrative Agent, as is necessary to carry out the intent of this Amendment.

     3.6 Entirety. This Amendment and the other Credit Documents embody the entire
agreement among the parties hereto and supersede all prior agreements and understandings, oral or
written, if any, relating to the subject matter hereof.

     3.7 Counterparts; Telecopy. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original, but all of which
shall constitute one and the same instrument. Delivery of an executed counterpart to this
Amendment by telecopy or other electronic means shall be effective as an original and shall
constitute a representation that an original will be delivered.

     3.8 No Actions, Claims, Etc. As of the date hereof, each of the Credit Parties hereby
acknowledges and confirms that it has no knowledge of any actions, causes of action, claims,
demands, damages and liabilities of whatever kind or nature, in law or in

9

 

equity, against the Administrative Agent, the Lenders, or the Administrative Agent’s or the
Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from
any action by such Persons, or failure of such Persons to act under this Credit Agreement on or
prior to the date hereof.

     3.9 GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402
OF THE NEW YORK GENERAL OBLIGATIONS LAW).

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

     3.11 General Release. In consideration of the Administrative Agent, on behalf of the
Lenders, entering into this Amendment, each Credit Party hereby releases the Administrative Agent,
the Lenders, and the Administrative Agent’s and the Lenders’ respective officers, employees,
representatives, agents, counsel and directors from any and all actions, causes of action, claims,
demands, damages and liabilities of whatever kind or nature, in law or in equity, now known or
unknown, suspected or unsuspected to the extent that any of the foregoing arises from any action or
failure to act under the Credit Agreement on or prior to the date hereof, except, with respect to
any such person being released hereby, any actions, causes of action, claims, demands, damages and
liabilities arising out of such person’s gross negligence, bad faith or willful misconduct.

     3.12 Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The
jurisdiction, services of process and waiver of jury trial provisions set forth in Sections 9.14
and 9.17 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.

     IN WITNESS WHEREOF the Credit Parties and the Administrative Agent (on behalf of the Required
Lenders) have caused this Amendment to be duly executed on the date first above written.

	 	 	 	 	 
	BORROWER: 	NEW CENTURY TRANSPORTATION, INC.,

a New Jersey corporation

 	 
	 	By:  	/s/ Brian J. Fitzpatrick
 	 
	 	 	Name:  	Brian J. Fitzpatrick 	 
	 	 	Title:  	EVP & CFO 	 
	 
	GUARANTORS: 	EAST PARK ACQUISITION, LLC,

a New Jersey limited liability company

 	 
	 	By:  	/s/ Brian J. Fitzpatrick
 	 
	 	 	Name:  	Brian J. Fitzpatrick 	 
	 	 	Title:  	 	 

10

 

	 	 	 	 	 

	 	 	 	 	 
	 	WESTERN FREIGHTWAYS, INC.,

a Colorado corporation

 	 
	 	By:  	/s/ Brian J. Fitzpatrick
 	 
	 	 	Name:  	Brian J. Fitzpatrick 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	ADMINISTRATIVE AGENT: 	WACHOVIA BANK, NATIONAL ASSOCIATION,

as a Lender and as Administrative Agent on behalf 

of the Required Lenders

 	 
	 	By:  	/s/ James Travagline
 	 
	 	 	Name:  	James Travagline 	 
	 	 	Title:  	Vice President 	 

11

 

EXHIBIT A

EXHIBIT 1.1(e)

[FORM OF]

NOTICE OF BORROWING

	TO: 	 	Wachovia Bank, National Association, as Administrative Agent
	 
	RE: 	 	Credit Agreement, dated as of August 14, 2006, by and among New
Century Transportation, Inc., a New Jersey corporation (the
“Borrower”), the Material Domestic Subsidiaries of the Borrower from
time to time party thereto (the “Guarantors”), the lenders from time
to time party thereto (the “Lenders”), and Wachovia Bank, National
Association, as Administrative Agent for Lenders (as amended,
modified, extended, restated, replaced, or supplemented from time to
time, the “Credit Agreement”; capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Credit
Agreement)
	 
	DATE : 	 	     [Date]

 

     Pursuant to Section(s) 2.1(b)(i), 2.2, and/or 2.4(b)(i) of the Credit Agreement, the Borrower
hereby requests the following (the “Proposed Borrowing”):

Term Loan be made as follows:1

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Interest
	 	 	 	 	 	 	 	 	Interest	 	Period
	 	 	 	 	 	 	 	 	Rate	 	(one, two, three or six
	 	 	 	 	 	 	 	 	(Alternate Base Rate/	 	months
	Date	 	Amount	 	LIBOR Rate) 2	 	– for LIBOR Rate only)2
	 

Revolving Loans be made as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Interest
	 	 	 	 	 	 	 	 	Interest	 	Period
	 	 	 	 	 	 	 	 	Rate	 	(one, two, three or six
	 	 	 	 	 	 	 	 	(Alternate Base Rate/	 	months
	Date	 	Amount	 	LIBOR Rate)	 	– for LIBOR Rate only)
	 

 

			
	1	 	Only to be used on the Closing Date.
	 
	2	 	LIBOR Rate is only available if the Borrower
delivers a Funding Indemnity Letter in accordance with the Credit Agreement

12

 

	 	 	 

	NOTE:

	 	REVOLVING LOAN BORROWINGS THAT ARE (A) ALTERNATE
BASE RATE LOANS MUST BE IN A MINIMUM AGGREGATE
AMOUNT OF $1,000,000 AND IN INTEGRAL MULTIPLES OF
$1,000,000 IN EXCESS THEREOF AND (B) LIBOR RATE
LOANS MUST BE IN A MINIMUM AGGREGATE AMOUNT OF
$1,000,000 AND IN INTEGRAL MULTIPLES OF
$1,000,000 IN EXCESS THEREOF.

Swingline Loans to be made on [date] as follows:

	 	 	 

	NOTE:

	 	SWINGLINE LOAN BORROWINGS MUST BE IN MINIMUM
AMOUNTS OF $100,000 AND IN INTEGRAL AMOUNTS OF
$100,000 IN EXCESS THEREOF.

     The undersigned hereby certifies that the following statements are true on the date hereof and
will be true on the date of the Proposed Borrowing:

     (a) The representations and warranties made by the Credit Parties in the Credit
Agreement and in the other Credit Documents shall (i) with respect to representations and
warranties that contain a materiality qualification, be true and correct and (ii) with
respect to representations and warranties that do not contain a materiality qualification,
be true and correct in all material respects, in each case on and as of the date of such
Extension of Credit as if made on and as of such date (except for any representation and
warranty made as of an earlier date, which representation and warranty shall remain true
and correct as of such earlier date).

     (b) No Default or Event of Default shall have occurred and be continuing on the date
of the Proposed Borrowing or after giving effect to the Proposed Borrowing unless such
Default or Event of Default shall have been waived in accordance with the Credit Agreement.

     (c) Immediately after giving effect to the making of the Proposed Borrowing (and the
application of the proceeds thereof), (i) the sum of the aggregate principal amount of
outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC
Obligations shall not exceed the Revolving Committed Amount then in effect (ii) the
outstanding LOC Obligations shall not exceed the LOC Committed Amount, and (iii) the
outstanding Swingline Loans shall not exceed the Swingline Committed Amount.

     (d) If a Revolving Loan is requested, all conditions set forth in Section 2.1 shall
have been satisfied.

     (e) If a Swingline Loan is requested, all conditions set forth in Section 2.4 shall
have been satisfied.

13

 

     This Notice of Borrowing may, upon execution, be delivered by facsimile or electronic mail,
which shall be deemed for all purposes to be an original signature.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

14

 

	 	 	 	 	 
	 	NEW CENTURY TRANSPORTATION, INC.,

a New Jersey corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

15

 

	 	 	 	 	 

EXHIBIT B

[FORM OF]

CONSENT TO SECOND AMENDMENT

TO CREDIT AGREEMENT

     This Consent is given pursuant to the Credit Agreement, dated as of August 14, 2006 (as
previously amended and modified, the “Credit Agreement”; and as further amended by the
Amendment (as hereinafter defined), the “Amended Credit Agreement”), by and among NEW
CENTURY TRANSPORTATION, INC., a New Jersey corporation (the “Borrower”), those Material
Domestic Subsidiaries of the Borrower party hereto (each a “Guarantor” and collectively,
the “Guarantors”), the lenders and other financial institutions from time to time party
thereto (the “Lenders”) and WACHOVIA BANK, NATIONAL ASSOCIATION, as administrative agent on
behalf of the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms
used herein shall have the meanings ascribed thereto in the Credit Agreement unless otherwise
defined herein.

     The undersigned hereby approves the amendment of the Credit Agreement effected by the Second
Amendment to Credit Agreement (the “Amendment”) by and among the Borrower, the Guarantors
party thereto, and the Administrative Agent and hereby authorizes the Administrative Agent to
execute and deliver the Amendment on its behalf and, by its execution below, the undersigned agrees
to be bound by the terms and conditions of the Amendment and the Amended Credit Agreement.

     Delivery of this Consent by telecopy or other electronic means shall be effective as an
original.

     A duly authorized officer of the undersigned has executed this Consent as of the                      day of
June, 2007.

	 	 	 	 	 
	 	as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

16

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