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Exhibit
10.3
AMENDMENT NO. 5 TO
REVOLVING CREDIT AGREEMENT
THIS AMENDMENT NO. 5 TO
REVOLVING CREDIT AGREEMENT, dated as of August 8, 2007, amends the
Revolving Credit Agreement dated as of November 8, 2005, as amended
by Amendment No. 1 to Revolving Credit Agreement dated as of March
28, 2006, by Amendment No. 2 to Revolving Credit Agreement dated as
of May 11, 2006, by Amendment No. 3 to Revolving Credit Agreement
dated as of November 7, 2006 and by Amendment No. 4 to Revolving
Credit Agreement dated as of July 31, 2007 (as so amended, the
“Credit Agreement”), between Centennial Bank Holdings,
Inc., a Delaware corporation (the “Borrower”), and U.S.
Bank National Association (the “Lender”).
RECITAL
The Borrower and the Lender
desire to amend the Credit Agreement as provided below.
AGREEMENTS
In consideration of the
promises and agreements contained in the Credit Agreement, as
amended hereby, the Borrower and the Lender agree as
follows:
1. Definitions and
References . Capitalized terms not otherwise defined herein
have the meanings ascribed to them in the Credit Agreement. Upon
the execution and delivery of this Amendment No. 5 to Revolving
Credit Agreement (“Amendment No. 5”)
by the Borrower and the Lender, each
reference to the Credit Agreement contained in the Credit
Agreement, the Note, the Pledge Agreement or any other document
relating thereto means the Credit Agreement as amended by this
Amendment No. 5.
2. Amendment to Credit
Agreement . Subsection 5.4(f) of the Credit Agreement is
amended to read as follows:
(f) Return on Average
Assets . Borrower’s consolidated net income shall be at
least eighty-five hundredths of one
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