Document:

Exhibit 10.9.5

Exhibit 10.9.5

SEVENTH
MODIFICATION AGREEMENT

BY THIS
SEVENTH MODIFICATION AGREEMENT (the "Agreement"), made and entered into as of
the 4th day of
October, 2004, WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent
(the "Administrative Agent") for the Banks listed in the hereinafter defined
Credit Agreement (the "Banks") and as the Issuing Bank and the Swing Line
Lender, and KNIGHT TRANSPORTATION, INC., an Arizona corporation (the "Company")
and all present and future Significant Subsidiaries of the Company (with the
Company, the "Borrower"), in consideration of the mutual covenants herein
contained and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, hereby confirm and agree as
follows:

SECTION
1.     RECITALS;
ACKNOWLEDGEMENTS.

1.1     The
Borrower and the Administrative Agent and the Banks entered into that Credit
Agreement dated April 6, 2001 (as amended from time to time, the "Credit
Agreement") to provide financial accommodations to the Borrower as provided
therein. The Credit Agreement was previously amended by that Modification
Agreement dated as of June 5, 2001, that Second Modification Agreement dated as
of November 19, 2001, that Third Modification Agreement dated as of February 13,
2003, that Fourth Modification Agreement dated as of September 15, 2003, that
Fifth Modification Agreement dated as of December 15, 2003 and that Sixth
Modification Agreement dated as of May 13, 2004.

1.2     Borrower
and the Administrative Agent, with the consent of the Banks, desire to modify
the Credit Agreement as set forth herein.

1.3     All
undefined capitalized terms used herein shall have the meaning given them in the
Credit Agreement.

 

SECTION
2.      CREDIT
AGREEMENT.

2.1     The
following definition in Section 1.1 of the Credit Agreement is hereby amended to
read as follows:

    "RLC Maturity
Date" shall mean September 30, 2006.

2.2     Section
6.2(d) of the Credit Agreement is hereby amended to read as follows:

    [Intentionally left
blank].

2.3     Section
6.7 of the Credit Agreement is hereby amended to read as follows: 

    Section 6.7
[Intentionally left blank].

SECTION
3.     OTHER
MODIFICATIONS, RATIFICATIONS AND AGREEMENTS.

3.1     All
references to the Credit Agreement in the other Loan Documents are hereby
amended to refer to the Credit Agreement as hereby amended.

3.2     Borrower
hereby reaffirms to the Banks each of the representations, warranties, covenants
and agreements of Borrower set forth in the Credit Agreement, with the same
force and effect as if each were separately stated herein and made as of the
date hereof.

3.3     Borrower
hereby ratifies, reaffirms, acknowledges, and agrees that the Notes and the
Credit Agreement represent valid, enforceable and collectible obligations of
Borrower, and that there are no existing claims, defenses, personal or
otherwise, or rights of setoff whatsoever with respect to any of these documents
or instruments. Borrower further acknowledges and represents that no event has
occurred and no condition exists that, after notice or lapse of time, or both,
would constitute a default under this Agreement, the Notes or the Credit
Agreement.

3.4     All
terms, conditions and provisions of the Credit Agreement are continued in full
force and effect and shall remain unaffected and unchanged except as
specifically amended hereby. The Credit Agreement, as amended hereby, is hereby
ratified and reaffirmed by Borrower, and Borrower specifically acknowledges the
validity and enforceability thereof.

 

SECTION
4.     GENERAL.

4.1     This
Agreement in no way acts as a release or relinquishment of those rights securing
payment of the Loans. Such rights are hereby ratified, confirmed, renewed and
extended by Borrower in all respects.

4.2     The
modifications contained herein shall not be binding upon the Banks until the
Administrative Agent shall have received all of the following:

(a)     An
original of this Agreement fully executed by the Borrower.

(b)     Such
resolutions or authorizations and such other documents as the Administrative
Agent may require relating to the existence and good standing of the Borrower
and the authority of any person executing this Agreement or other documents on
behalf of the Borrower.

4.3     Borrower
shall execute and deliver such additional documents and do such other acts as
the Banks may reasonably require to fully implement the intent of this
Agreement.

4.4     Borrower
shall pay all costs and expenses, including, but not limited to, reasonable
attorneys' fees incurred by the Administrative Agent in connection herewith,
whether or not all of the conditions described in Paragraph 4.2 above are
satisfied. Banks, at their option, but without any obligation to do so, may
advance funds to pay any such costs and expenses that are the obligation of the
Borrower, and all such funds advanced shall bear interest at the highest rate
provided in the Notes and shall be due and payable upon demand.

4.5     Notwithstanding
anything to the contrary contained herein or in any other instrument executed by
Borrower, the Administrative Agent or the Banks, or in any other action or
conduct undertaken by Borrower, the Administrative Agent or the Banks on or
before the date hereof, the agreements, covenants and provisions contained
herein shall constitute the only evidence of the Banks' consent to modify the
terms and provisions of the Credit Agreement. Accordingly, no express or implied
consent to any further modifications involving any of the matters set forth in
this Agreement or otherwise shall be inferred or implied by the Banks' consent
to this Agreement.

-2-

Further,
the Banks' consent to this Agreement shall not constitute a waiver (either
express or implied) of the requirement that any further modification of the
Credit Agreement shall require the express written consent of the Banks; no such
consent (either express or implied) has been given as of the date
hereof.

4.6     Time is
hereby declared to be of the essence hereof of the Credit Agreement, and Banks
require, and Borrower agrees to, strict performance of each and every covenant,
condition, provision and agreement hereof, of the Credit Agreement.

4.7     This
Agreement shall be binding upon, and shall inure to the benefit of, the parties
hereto and their heirs, personal representatives, successors and
assigns.

4.8     This
Agreement is made for the sole protection and benefit of the parties hereto, and
no other person or entity shall have any right of action hereon.

4.9     This
Agreement shall be governed by and construed according to the laws of the State
of Arizona.

IN
WITNESS WHEREOF, these presents are executed as of the date indicated
above.

	 	
      WELLS
      FARGO BANK, NATIONAL ASSOCIATION

	 	
       

       

      By:
      
	
       

       

      /s/
      Keri Tignini

	 	
      Name:
	
      Keri
      Tignini

	 	
      Its:
	
      Vice
      President

	 	 
	 	 	
      ADMINISTRATIVE
      AGENT

	 	 
	 	
      KNIGHT
      TRANSPORTATION, INC.

	 	
       

       

      By:
      
	
       

       

      /s/
      Tim Kohl

	 	
      Name:
	
      Tim
      Kohl

	 	
      Its:
	
      President

	 	 
	 	
      QUAD-K
      LEASING, INC., an Arizona corporation

	 	
       

       

      By:
      
	
       

       

      /s/
      Tim Kohl /s/ David A. Jackson

	 	
      Name:
	
      Tim
      Kohl David A. Jackson

	 	
      Its:
	
      Treasurer

	 	 
	 	 	
      BORROWER

	 	 	 
	 	 	 

-3-

CONSENT
OF THE BANKS

Re: Knight
Transportation, Inc.

The
following:

(a)     is a Bank
named in that Credit Agreement dated April 6, 2001 between Knight
Transportation, Inc., an Arizona corporation (the "Company"), all present and
future Significant Subsidiaries of the Company (the "Borrower"), Wells Fargo
Bank, National Association, as administrative agent for the Banks (the
"Administrative Agent"), and the Banks, and

(b)     consents to
that Seventh Modification Agreement dated October 4, 2004 entered into between
the Borrower and the Administrative Agent.

	 	
      WELLS
      FARGO BANK, NATIONAL ASSOCIATION

	 	
       

       

      By:
      
	
       

       

      /s/
      Keri Tignini

	 	
      Name:
	
      Keri
      Tignini

	 	
      Its:
	
      Vice
      President

	 	 
	 	 	
      "Bank"Exhibit 10.14 Amendment No. 7 to Loan Agreement

Exhibit
10.14

AMENDMENT
NO. 7 TO

LOAN
AGREEMENT

(CVTI/Covenant
Transport)

THIS
AMENDMENT NO. 7 TO LOAN AGREEMENT, dated as of November 17, 2004 (the
“Amendment”), is
entered into by and among THREE PILLARS FUNDING LLC (formerly known as THREE
PILLARS FUNDING CORPORATION), (“Three
Pillars”),
SUNTRUST CAPITAL MARKETS, INC. (formerly SunTrust Equitable Securities
Corporation), as administrator (the “Administrator”), CVTI
RECEIVABLES CORP. (“CVTI”), and
COVENANT TRANSPORT, INC. (“Covenant”).
Capitalized terms used and not otherwise defined herein are used as defined in
the Loan Agreement, dated as of December 12, 2000 among Three Pillars, the
Administrator, CVTI and Covenant (as amended to date, the “Loan
Agreement”).

WHEREAS,
the parties hereto desire to further amend the Loan Agreement in certain
respects as provided herein;

NOW
THEREFORE, in consideration of the premises and the other mutual covenants
contained herein, the parties hereto agree as follows: 

SECTION
1.  Amendments to the Loan
Agreement.

(a)     The
following new definition is hereby added to Section 1.1 of the Loan Agreement in
appropriate alphabetical order:

“Detention
Charge Receivable: Any
Receivable that arises from the assessment against the Obligor thereof of fees
in connection with a driver being detained (beyond the period of time allotted
by the Originator for the performance by the driver of his/her duties) at any
pick-up, deliver or transfer site relating to any service rendered to such
Obligor.”

(b)     The
definition of “Concentration Limit” in Section 1.1 of the Loan Agreement is
hereby deleted and replaced with the following definition:

“Concentration
Limit: For any
Obligor (a) whose (i) short term unsecured debt rating is (A) equal to both A1+
by S&P and P1 by Moody’s, 8.0%, (B) equal to both A1 by S&P and P1 by
Moody’s, 6.0%, (C) equal to both A2 by S&P and P2 by Moody’s, 4.0%, (D)
equal to both A3 by S&P and P3 by Moody’s, 3.0%; provided,
however, if such Obligor is rated by both Moody’s and S&P and has a split
rating, the applicable rating will be the lower of the two ratings, or (ii) in
the absence of short term unsecured debt ratings by both Rating Agencies, whose
long term unsecured debt rating is (A) equal to both AAA by S&P and Aaa by
Moody’s, 8.0%, (B) equal to both AA-, AA or AA+ by S&P and Aa3, Aa2 or Aa1
by Moody’s, 6.0%, (C) equal to both A-, A or A+ by S&P and A3, A2 or A1 by
Moody’s, 4.0%, (D) equal to both BBB-, BBB or BBB+ by S&P and Baa3, Baa2 or
Baa1 by Moody’s, 3.0%; provided,
however, if such Obligor is rated by both Moody’s and S&P and has a split
rating, the applicable rating will be the lower of the two ratings or (b) that
has no short term unsecured debt rating or long term unsecured debt rating or is
rated below any of the foregoing rating categories, 3.0%, in each case, of the
Aggregate Unpaid Balance.”

1

(c)     The
definition of “Defaulted Receivable” in Section 1.1 of the Loan Agreement is
hereby amended by adding the parenthetical phrase “(other than a Detention
Charge Receivable)” following the first occurrence of the word “Receivable” in
such definition.

(d)     The
definition of “Delinquent Receivable” in Section 1.1 of the Loan Agreement is
hereby amended by adding the phrase “or a Detention Charge Receivable” following
the word “Receivable” in the parenthetical phrase “(other than a Defaulted
Receivable)” in such definition.

(e)     Clause (d) of
the definition of “Eligible Receivable” in Section 1.1 of the Loan Agreement is
hereby amended by adding the phrase “a Detention Charge Receivable,” before the
words “a Delinquent Receivable” in such definition.

(f)     The
definition of “Special Obligor” in Section 1.1 of the Loan Agreement is hereby
deleted.

(g)     Section
10.2(d) of the Loan Agreement is hereby deleted and replaced with the
following:

          
“(d) Delinquency
Ratio. The
Delinquency Ratio shall be equal to or exceed 2.00% on a rolling three month
average basis.”

(h)     The
definition of “Scheduled Commitment Termination Date” in Section 1.1 of the Loan
Agreement is hereby deleted and replaced with the following:

  
“Scheduled
Commitment Termination Date:
December 6, 2005.”

SECTION
2. Effect
of Amendment. 

Except as
modified and expressly amended by this Amendment, the Loan Agreement is in all
respects ratified and confirmed, and all the terms, provisions and conditions
thereof shall be and remain in full force and effect. This Amendment shall be
effective as of the later of date on which each of the parties hereto delivers
to the Administrator a fully executed original of this Amendment and the date on
which CVTI delivers to the Administrator a fully executed original of the Second
Amended and Restated Fee Letter, dated as of the date hereof (the “Effective
Date”). On
and after the Effective Date, all references in the Loan Agreement to “this
Agreement,” “hereto,” “hereof,” “hereunder” or words of like import refer to the
Loan Agreement as amended by this Amendment. 

SECTION
3. Binding
Effect.

This
Amendment shall be binding upon and inure to the benefit of the parties to the
Loan Agreement and their successors and permitted assigns.

2

SECTION
4. Governing
Law.

This
Amendment shall be governed by, and construed in accordance with, the laws of
the State of New York.

SECTION
5. Execution
in Counterparts; Severability.

This
Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original, and all of which taken together shall constitute one and the
same agreement. Delivery of an executed counterpart of a signature page by
facsimile shall be effective as delivery of a manually executed counterpart of
this Amendment. In case any provision in or obligation under this Amendment
shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of
such provision or obligation in any other jurisdiction, shall not in any way be
affected or impaired thereby.

[Remainder
of Page Intentionally Left Blank]

 

 

 

3

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

	
      THREE
      PILLARS:
	
      THREE
      PILLARS FUNDING LLC

	 	
       

       

      By:
	
       

       

      /s/
      Evelyn Echevarria

	 	 	
      Title:
      Vice President

	 	 	 
	
      THE
      BORROWER:
	
      CVTI
      RECEIVABLES CORP.

	 	
       

       

      By:
      
	
       

       

      /s/
      Joey B. Hogan

	 	 	
      Title:
      Treasurer
      and Chief Financial Officer 

	 	 	 
	
      THE
      ADMINISTRATOR:
	
      SUNTRUST
      CAPITAL MARKETS, INC.

	 	
       

       

      By:
      
	
       

       

      /s/
      James R. Bennison

	 	 	
      Title:
      Managing Director

	 	 	 
	
      THE
      MASTER SERVICER:
	
      COVENANT
      TRANSPORT, INC., 

      a
      Nevada holding corporation

	 	
       

       

      By:
      
	
       

       

      /s/
      Joey B. Hogan

	 	 	
      Title:
      Exec.
      Vice President, Chief Financial,

      and
      Assistant Secretary

	 	 	 
	 	 	 

(Signature
Page to Amendment No. 7 to Loan Agreement (CVTI/Covenant
Transport))

 

 

4

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