Tontine Capital Management LLC Watch

from SC 13D/A 5 pages This Preliminary, Non-Binding Letter of Intent (This “Letter of Intent”) Sets Forth the Mutual Understanding and Intent of Tontine Capital Overseas Master Fund II, LP or Its Affiliates (“Tontine”) and Patrick Industries, Inc. (The “Company”), Concerning the Proposed Acquisition by Tontine of Up to $8.0 Million of Secured Senior Subordinated Notes (The “Secured Senior Subordinated Notes”) From the Company in Connection With the Company’s Refinancing of Its Senior Credit Facility. the Company and Tontine Are Entering Into This Letter of Intent Pursuant to Section 5.13(b) of the Credit Agreement Dated as of May 18, 2007, as Amended, Among the Company, the Lenders Party Thereto and Jpmorgan Chase Bank, N.A., as Administrative Agent