Bridge Credit Agreement (2006)Full Document 

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BRIDGE CREDIT AGREEMENT
dated as of
December 21, 2006
among
BROWN-FORMAN CORPORATION,
as the Borrower
THE LENDERS PARTY HERETO,
JPMORGAN CHASE BANK, N.A.,
as Syndication Agent
CITICORP NORTH AMERICA, INC.,
as Documentation Agent
and
BANK OF AMERICA, N.A.,
as Administrative Agent
 
BANC OF AMERICA SECURITIES LLC,
J.P. MORGAN SECURITIES INC.,
and
CITIGROUP GLOBAL MARKETS INC.
as Joint Lead Arrangers and Joint Bookrunners


 

 

TABLE OF CONTENTS
         
    Page
ARTICLE I
       
 
       
Definitions
       
 
       
SECTION 1.01. Defined Terms
    1  
 
       
SECTION 1.02. Classification of Loans and Borrowings
    1  
 
       
SECTION 1.03. Terms Generally
    1  
 
       
SECTION 1.04. Accounting Terms; GAAP
    1  
 
       
ARTICLE II
       
 
       
The Credits
       
 
       
SECTION 2.01. Commitments
    1  
 
       
SECTION 2.02. Loans and Borrowings
    1  
 
       
SECTION 2.03. Requests for Borrowings
    1  
 
       
SECTION 2.04. Funding of Borrowings
    1  
 
       
SECTION 2.05. Interest Elections
    1  
 
       
SECTION 2.06. Termination and Reduction of Commitments
    1  
 
       
SECTION 2.07. Repayment of Loans; Evidence of Debt
    1  
 
       
SECTION 2.08. Prepayment of Loans
    1  
 
       
SECTION 2.09. Fees
    1  
 
       
SECTION 2.10. Interest
    1  
 
       
SECTION 2.11. Alternate Rate of Interest
    1  
 
       
SECTION 2.12. Increased Costs
    1  
 
       
SECTION 2.13. Break Funding Payments
    1  
 
       
SECTION 2.14. Taxes
    1  


 

Contents, p. 2

         
    Page
SECTION 2.15. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
    1  
 
       
SECTION 2.16. Mitigation Obligations; Replacement of Lenders
    1  
 
       
ARTICLE III
       
 
       
Representations and Warranties
       
 
       
SECTION 3.01. Organization; Powers
    1  
 
       
SECTION 3.02. Authorization; Enforceability
    1  
 
       
SECTION 3.03. Governmental Approvals; No Conflicts
    1  
 
       
SECTION 3.04. Financial Condition; No Material Adverse Change
    1  
 
       
SECTION 3.05. Litigation and Environmental Matters
    1  
 
       
SECTION 3.06. Compliance with Laws and Agreements
    1  
 
       
SECTION 3.07. Investment Company Status
    1  
 
       
SECTION 3.08. Taxes
    1  
 
       
SECTION 3.09. ERISA
    1  
 
       
SECTION 3.10. Disclosure
    1  
 
       
ARTICLE IV
       
 
       
Conditions
       
 
       
SECTION 4.01. Effective Date
    1  
 
       
SECTION 4.02. Each Credit Event
    1  
 
       
ARTICLE V
       
 
       
Affirmative Covenants
       
 
       
SECTION 5.01. Financial Statements and Other Information
    1  
 
       
SECTION 5.02. Notices of Material Events
    1  
 
       
SECTION 5.03. Existence; Conduct of Business
    1  
 
       
SECTION 5.04. Payment of Obligations
    1  


 

Contents, p. 3

         
    Page
SECTION 5.05. Maintenance of Properties; Insurance
    1  
 
       
SECTION 5.06. Books and Records; Inspection Rights
    1  
 
       
SECTION 5.07. Compliance with Laws
    1  
 
       
SECTION 5.08. Use of Proceeds
    1  
 
       
SECTION 5.09. Consummation of the Acquisition
    1  
 
       
ARTICLE VI
       
 
       
Negative Covenants
       
 
       
SECTION 6.01. Subsidiary Indebtedness
    1  
 
       
SECTION 6.02. Liens
    1  
 
       
SECTION 6.03. Sale and Leaseback Transactions
    1  
 
       
SECTION 6.04. Fundamental Changes
    1  
 
       
SECTION 6.05. Transactions with Affiliates
    1  
 
       
SECTION 6.06. Ratio of Consolidated Total Debt to Consolidated Net Worth
    1  
 
       
ARTICLE VII
       
 
       
Events of Default
       
 
       
ARTICLE VIII
       
 
       
The Administrative Agent
       
 
       
ARTICLE IX
       
 
       
Miscellaneous
       
 
       
SECTION 9.01. Notices
    1  
 
       
SECTION 9.02. Waivers; Amendments
    1  
 
       
SECTION 9.03. Expenses; Indemnity; Damage Waiver
    1  
 
       
SECTION 9.04. Successors and Assigns
    1  
 
       
SECTION 9.05. Survival
    1  


 

Contents, p. 4

         
    Page
SECTION 9.06. Counterparts; Integration; Effectiveness
    1  
 
       
SECTION 9.07. Severability
    1  
 
       
SECTION 9.08. Right of Setoff
    1  
 
       
SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process
    1  
 
       
SECTION 9.10. WAIVER OF JURY TRIAL
    1  
 
       
SECTION 9.11. Headings
    1  
 
       
SECTION 9.12. Confidentiality
    1  
 
       
SECTION 9.13. Interest Rate Limitation
    1  
 
       
SECTION 9.14. Conversion of Currencies
    1  
 
       
SECTION 9.15. USA Patriot Act
    1  
 
       
Schedules:
       
Schedule 2.01 — Commitments
       
Schedule 3.03 — Governmental Approvals; No Conflicts
       
Schedule 3.04 — Financial Condition; No Material Adverse Change
       
Schedule 3.05 — Disclosed Matters
       
Schedule 3.06 — Compliance with Laws and Agreements

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