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Exhibit 10.24
FIRST AMENDMENT TO LOAN AND
SECURITY AGREEMENT
Reference is made to that certain Loan and
Security Agreement dated as of March 22, 2007 (the “Loan
and Security Agreement”) between the undersigned Primoris
Corporation (the “Borrower”) and LaSalle Bank National
Association (the “Bank”). All capitalized terms used
herein without definition shall have the same meanings herein as
those terms have in the Loan and Security Agreement. The Borrower
and Bank hereby amend the Loan and Security Agreement as set forth
below.
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1.
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The definition
of “Pledge Agreements” in Section 1.1 of the Loan and
Security Agreement is hereby deleted in its entirety.
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2.
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Section 3.2(a)
of the Loan and Security Agreement is hereby deleted in its
entirety.
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3.
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Section 3.2(b)
of the Loan and Security Agreement is hereby deleted in its
entirety.
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4.
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The current
Section 3.2(c) of the Loan and Security Agreement shall be
renumbered as Section 3.2(b) of the Loan and Security
Agreement.
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5.
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The current
Section 3.2(d) of the Loan and Security Agreeme
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