Revolving Commitment Increase
Agreement
THIS
AGREEMENT is made and entered into this 12
th day of December, 2005, (this “
Agreement ”) pursuant to that certain Amended and
Restated Credit Agreement, dated as of July 1, 2004, (as
amended, supplemented or otherwise modified, the “ Credit
Agreement ”) among PIKE ELECTRIC CORPORATION, a Delaware
corporation (“ Holdings ”), PIKE ELECTRIC, INC.,
a North Carolina corporation (the “ Borrower ”),
the several banks and other financial institutions from time to
time parties thereto (the “ Lenders ”), J.P.
MORGAN SECURITIES INC., as syndication agent, NATIONAL CITY BANK,
as documentation agent, and BARCLAYS BANK PLC, as administrative
agent for the Lenders thereunder (in such capacity, the “
Administrative Agent ”).
WHEREAS ,
the Borrower, the Administrative Agent and the Lenders have entered
into the Credit Agreement pursuant to which certain of the Lenders
have, among other things, agreed to make revolving loans to the
Borrower in the principal amount of up to $70,000,000 at any one
time outstanding (which may be increased to $90,000,000);
and
WHEREAS ,
the Borrower has exercised its right to increase the Total
Revolving Commitment pursuant to Section 3.4 of the Credit
Agreement, and Bank of America, N.A. (the “ New Lender
”) has agreed to provide the Borrower a Revolving Commitment
of $10,000,000 increase its Revolving Commitment to $10,000,000
(the “ New Lender Commitment ”) thereby
increasing the then applicable Total Revolving Commitment to
$10,000,000;
NOW,
THEREFORE , the Borrower and the New Lender do hereby agree as
follows:
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