This FOURTH
AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is
dated as of July 13, 2007, is effective as set forth below, and is
by and between STANLEY FURNITURE COMPANY, INC., a Delaware
corporation (the “Borrower”); and WACHOVIA BANK,
NATIONAL ASSOCIATION, a national banking association and successor
to SouthTrust Bank, an Alabama banking corporation (the
“Lender”).
RECITALS
The
Lender has made a certain credit facility (the
“Loan”) available to the Borrower pursuant to the
terms and conditions contained in that certain Credit
Agreement dated as of August 29, 2003 between the Borrower and
the Lender (as amended by that certain First Amendment to
Credit Agreement dated as of April 23, 2004, that certain
Second Amendment to Credit Agreement effective as of August
29, 2005, and that certain Third Amendment to Credit Agreement
effective as of August 28, 2006, the “Credit
Agreement”).
In
accordance with Section 2.12 of the Credit Agreement, the
Borrower has submitted to the Bank, and the Bank has received,
a timely request that the Lender extend the Date of Maturity
(as defined in the Credit Agreement) to August 29,
2009.
The
Lender has agreed to extend the Date of Mat
